Item 1. Financial Statements

REGENCY CENTERS CORPORATION

Consolidated Balance Sheets

June 30, 2026 and December 31, 2025

(in thousands, except per share data)

		2026				2025
Assets		(unaudited)
Net real estate investments:
Real estate assets, at cost		$	14,767,372				14,561,924
Less: accumulated depreciation			3,442,113				3,267,728
Real estate assets, net			11,325,259				11,294,196
Investments in sales-type leases, net			16,848				16,727
Investments in real estate partnerships			362,810				349,856
Net real estate investments			11,704,917				11,660,779
Cash, cash equivalents, and restricted cash, including $5,643 and $16,004 of restricted cash at June 30, 2026 and December 31, 2025, respectively			191,614				120,661
Tenant and other receivables, net			291,660				273,862
Deferred leasing costs, less accumulated amortization of $142,917 and $138,391 at June 30, 2026 and December 31, 2025, respectively			101,673				97,253
Acquired lease intangible assets, less accumulated amortization of $440,278 and $421,433 at June 30, 2026 and December 31, 2025, respectively			233,561				254,201
Right of use assets, net			311,846				315,804
Other assets			287,671				278,723
Total assets		$	13,122,942				13,001,283
Liabilities and Equity
Liabilities:
Notes payable, net		$	4,873,182				4,619,301
Unsecured credit facility			30,000				120,000
Accounts payable and other liabilities			399,523				391,847
Acquired lease intangible liabilities, less accumulated amortization of $256,559 and $243,040 at June 30, 2026 and December 31, 2025, respectively			345,570				356,454
Lease liabilities			240,325				242,368
Tenants' security, escrow deposits and prepaid rent			87,154				89,707
Total liabilities			5,975,754				5,819,677
Commitments and contingencies			—				—
Equity:
Shareholders' equity:
Preferred stock $0.01 par value per share, 30,000,000 shares authorized; 9,000,000 shares issued and outstanding, in the aggregate, in Series A and Series B at June 30, 2026 and December 31, 2025			225,000				225,000
Common stock $0.01 par value per share, 220,000,000 shares authorized; 183,117,863 and 182,902,234 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively			1,831				1,829
Treasury stock at cost, 411,590 and 494,307 shares held at June 30, 2026 and December 31, 2025, respectively			(33,085	)			(31,075	)
Additional paid-in-capital			8,709,547				8,704,138
Accumulated other comprehensive loss			(574	)			(4,220	)
Distributions in excess of net income			(2,027,768	)			(1,988,782	)
Total shareholders' equity			6,874,951				6,906,890
Noncontrolling interests:
Exchangeable operating partnership units, aggregate redemption value of $306,057 and $264,950 at June 30, 2026 and December 31, 2025, respectively			144,222				144,940
Limited partners' interests in consolidated partnerships			128,015				129,776
Total noncontrolling interests			272,237				274,716
Total equity			7,147,188				7,181,606
Total liabilities and equity		$	13,122,942				13,001,283

The accompanying notes are an integral part of the consolidated financial statements.

REGENCY CENTERS CORPORATION

Consolidated Statements of Operations

For the periods ended June 30, 2026, and 2025

(in thousands, except per share data)

(unaudited)

		Three months ended June 30,								Six months ended June 30,
		2026				2025				2026				2025
Revenues:
Lease income		$	402,798				369,105			$	805,411				740,184
Other property income			3,520				4,499				6,427				7,520
Management, transaction, and other fees			7,192				7,244				14,125				14,056
Total revenues			413,510				380,848				825,963				761,760
Operating expenses:
Depreciation and amortization			108,803				99,535				215,225				196,309
Property operating expense			70,946				60,759				144,246				129,218
Real estate taxes			49,985				47,500				101,395				93,860
General and administrative			27,567				25,480				53,173				47,080
Other operating expenses			2,037				1,944				3,038				3,632
Total operating expenses			259,338				235,218				517,077				470,099
Other expense, net:
Interest expense, net			53,582				50,272				105,767				98,285
Provision for impairment of real estate			—				1,262				—				1,262
(Gain) Loss on sale of real estate, net of tax			(268	)			294				(7,462	)			193
Net investment income			(2,721	)			(788	)			(3,416	)			(27	)
Total other expense, net			50,593				51,040				94,889				99,713
Income before equity in income of investments in real estate partnerships			103,579				94,590				213,997				191,948
Equity in income of investments in real estate partnerships			16,160				13,759				38,540				28,254
Net income			119,739				108,349				252,537				220,202
Noncontrolling interests:
Exchangeable operating partnership units			(2,360	)			(586	)			(4,977	)			(1,228	)
Limited partners' interests in consolidated partnerships			(1,615	)			(1,742	)			(3,247	)			(3,366	)
Net income attributable to noncontrolling interests			(3,975	)			(2,328	)			(8,224	)			(4,594	)
Net income attributable to the Company			115,764				106,021				244,313				215,608
Preferred stock dividends			(3,413	)			(3,413	)			(6,826	)			(6,826	)
Net income attributable to common shareholders		$	112,351				102,608			$	237,487				208,782
Net income attributable to common shareholders:
Per common share - basic		$	0.61				0.57			$	1.30				1.15
Per common share - diluted		$	0.61				0.56			$	1.30				1.15

The accompanying notes are an integral part of the consolidated financial statements.

REGENCY CENTERS CORPORATION

Consolidated Statements of Comprehensive Income

For the periods ended June 30, 2026, and 2025

(in thousands)

(unaudited)

		Three months ended June 30,								Six months ended June 30,
		2026				2025				2026				2025
Net income		$	119,739				108,349			$	252,537				220,202
Other comprehensive income (loss):
Effective portion of change in fair value of derivative instruments:
Effective portion of change in fair value of derivative instruments			2,557				(1,295	)			4,735				(3,943	)
Reclassification adjustment of derivative instruments included in net income			(377	)			(1,015	)			(842	)			(2,760	)
Unrealized (loss) gain on available-for-sale debt securities			22				94				(55	)			288
Other comprehensive income (loss)			2,202				(2,216	)			3,838				(6,415	)
Comprehensive income			121,941				106,133				256,375				213,787
Less: comprehensive income attributable to noncontrolling interests:
Net income attributable to noncontrolling interests			3,975				2,328				8,224				4,594
Other comprehensive income (loss) attributable to noncontrolling interests			89				(143	)			192				(401	)
Comprehensive income attributable to noncontrolling interests			4,064				2,185				8,416				4,193
Comprehensive income attributable to the Company		$	117,877				103,948			$	247,959				209,594

The accompanying notes are an integral part of the consolidated financial statements.

REGENCY CENTERS CORPORATION

Consolidated Statements of Equity

For the three months ended June 30, 2026 and 2025

(in thousands, except per share data)

(unaudited)

																														Noncontrolling Interests
		Preferred Stock				Common Stock				Treasury Stock				Additional Paid In Capital				Accumulated Other Comprehensive Income (Loss)				Distributions in Excess of Net Income				Total Shareholders' Equity				Exchangeable Operating Partnership Units				Limited Partners' Interest in Consolidated Partnerships				Total Noncontrolling Interests				Total Equity
Balance at March 31, 2025		$	225,000				1,815				(29,133	)			8,505,489				(1,715	)			(2,001,878	)			6,699,578				40,584				136,278				176,862				6,876,440
Net income			—				—				—				—				—				106,021				106,021				586				1,742				2,328				108,349
Other comprehensive loss
Other comprehensive loss before reclassification			—				—				—				—				(1,146	)			—				(1,146	)			(7	)			(48	)			(55	)			(1,201	)
Amounts reclassified from accumulated other comprehensive loss			—				—				—				—				(927	)			—				(927	)			(6	)			(82	)			(88	)			(1,015	)
Deferred compensation plan, net			—				—				(1,077	)			1,077				—				—				—				—				—				—				—
Amortization of equity awards			—				1				—				5,569				—				—				5,570				—				—				—				5,570
Tax withholding on stock-based compensation			—				—				—				(23	)			—				—				(23	)			—				—				—				(23	)
Repurchase of exchangeable operating partnership units			—				—				—				—				—				—				—				(2,046	)			—				(2,046	)			(2,046	)
Common stock issued under dividend reinvestment plan			—				—				—				196				—				—				196				—				—				—				196
Contributions from partners			—				—				—				—				—				—				—				—				5,439				5,439				5,439
Distributions to partners			—				—				—				—				—				—				—				—				(2,620	)			(2,620	)			(2,620	)
Dividends declared:
Preferred stock			—				—				—				—				—				(3,413	)			(3,413	)			—				—				—				(3,413	)
Common stock/unit			—				—				—				—				—				(127,984	)			(127,984	)			(752	)			—				(752	)			(128,736	)
Balance at June 30, 2025		$	225,000				1,816				(30,210	)			8,512,308				(3,788	)			(2,027,254	)			6,677,872				38,359				140,709				179,068				6,856,940
Balance at March 31, 2026		$	225,000				1,831				(32,207	)			8,702,768				(2,687	)			(2,001,870	)			6,892,835				144,705				127,367				272,072				7,164,907
Net income			—				—				—				—				—				115,764				115,764				2,360				1,615				3,975				119,739
Other comprehensive income
Other comprehensive income before reclassification			—				—				—				—				2,451				—				2,451				51				77				128				2,579
Amounts reclassified from accumulated other comprehensive income			—				—				—				—				(338	)			—				(338	)			4				(43	)			(39	)			(377	)
Deferred compensation plan, net			—				—				(878	)			829				—				—				(49	)			—				—				—				(49	)
Amortization of equity awards			—				—				—				6,204				—				—				6,204				—				—				—				6,204
Tax withholding on stock-based compensation			—				—				—				(436	)			—				—				(436	)			—				—				—				(436	)
Common stock issued under dividend reinvestment plan			—				—				—				182				—				—				182				—				—				—				182
Contributions from partners			—				—				—				—				—				—				—				—				2,074				2,074				2,074
Distributions to partners			—				—				—				—				—				—				—				—				(3,075	)			(3,075	)			(3,075	)
Dividends declared:
Preferred stock			—				—				—				—				—				(3,413	)			(3,413	)			—				—				—				(3,413	)
Common stock/unit			—				—				—				—				—				(138,249	)			(138,249	)			(2,898	)			—				(2,898	)			(141,147	)
Balance at June 30, 2026		$	225,000				1,831				(33,085	)			8,709,547				(574	)			(2,027,768	)			6,874,951				144,222				128,015				272,237				7,147,188

The accompanying notes are an integral part of the consolidated financial statements.

REGENCY CENTERS CORPORATION

Consolidated Statements of Equity

For the six months ended June 30, 2026 and 2025

(in thousands, except per share data)

(unaudited)

																														Noncontrolling Interests
		Preferred Stock				Common Stock				Treasury Stock				Additional Paid In Capital				Accumulated Other Comprehensive Income (Loss)				Distributions in Excess of Net Income				Total Shareholders' Equity				Exchangeable Operating Partnership Units				Limited Partners' Interest in Consolidated Partnerships				Total Noncontrolling Interests				Total Equity
Balance at December 31, 2024		$	225,000				1,814				(28,045	)			8,503,227				2,226				(1,980,076	)			6,724,146				40,744				135,417				176,161				6,900,307
Net income			—				—				—				—				—				215,608				215,608				1,228				3,366				4,594				220,202
Other comprehensive loss
Other comprehensive loss before reclassification			—				—				—				—				(3,435	)			—				(3,435	)			(27	)			(193	)			(220	)			(3,655	)
Amounts reclassified from accumulated other comprehensive loss			—				—				—				—				(2,579	)			—				(2,579	)			(14	)			(167	)			(181	)			(2,760	)
Adjustment for noncontrolling interests			—				—				—				2,210				—				—				2,210				(2,210	)			—				(2,210	)			—
Deferred compensation plan, net			—				—				(2,165	)			2,165				—				—				—				—				—				—				—
Amortization of equity awards			—				2				—				11,116				—				—				11,118				—				—				—				11,118
Tax withholding on stock-based compensation			—				—				—				(6,783	)			—				—				(6,783	)			—				—				—				(6,783	)
Repurchase of exchangeable operating partnership units			—				—				—				—				—				—				—				(2,046	)			—				(2,046	)			(2,046	)
Common stock issued under dividend reinvestment plan			—				—				—				373				—				—				373				—				—				—				373
Contributions from partners			—				—				—				—				—				—				—				2,210				8,416				10,626				10,626
Distributions to partners			—				—				—				—				—				—				—				—				(6,130	)			(6,130	)			(6,130	)
Dividends declared:
Preferred stock			—				—				—				—				—				(6,826	)			(6,826	)			—				—				—				(6,826	)
Common stock/unit			—				—				—				—				—				(255,960	)			(255,960	)			(1,526	)			—				(1,526	)			(257,486	)
Balance at June 30, 2025		$	225,000				1,816				(30,210	)			8,512,308				(3,788	)			(2,027,254	)			6,677,872				38,359				140,709				179,068				6,856,940
Balance at December 31, 2025		$	225,000				1,829				(31,075	)			8,704,138				(4,220	)			(1,988,782	)			6,906,890				144,940				129,776				274,716				7,181,606
Net income			—				—				—				—				—				244,313				244,313				4,977				3,247				8,224				252,537
Other comprehensive income
Other comprehensive income before reclassification			—				—				—				—				4,406				—				4,406				94				180				274				4,680
Amounts reclassified from accumulated other comprehensive income			—				—				—				—				(760	)			—				(760	)			6				(88	)			(82	)			(842	)
Deferred compensation plan, net			—				—				(2,010	)			1,958				—				—				(52	)			—				—				—				(52	)
Amortization of equity awards			—				2				—				12,184				—				—				12,186				—				—				—				12,186
Tax withholding on stock-based compensation			—				—				—				(9,108	)			—				—				(9,108	)			—				—				—				(9,108	)
Common stock issued under dividend reinvestment plan			—				—				—				375				—				—				375				—				—				—				375
Contributions from partners			—				—				—				—				—				—				—				—				2,311				2,311				2,311
Distributions to partners			—				—				—				—				—				—				—				—				(7,411	)			(7,411	)			(7,411	)
Dividends declared:
Preferred stock			—				—				—				—				—				(6,826	)			(6,826	)			—				—				—				(6,826	)
Common stock/unit			—				—				—				—				—				(276,473	)			(276,473	)			(5,795	)			—				(5,795	)			(282,268	)
Balance at June 30, 2026		$	225,000				1,831				(33,085	)			8,709,547				(574	)			(2,027,768	)			6,874,951				144,222				128,015				272,237				7,147,188

The accompanying notes are an integral part of the consolidated financial statements.

REGENCY CENTERS CORPORATION

Consolidated Statements of Cash Flows

For the periods ended June 30, 2026, and 2025

(in thousands)

(unaudited)

		Six months ended June 30,
		2026				2025
Cash flows from operating activities:
Net income		$	252,537				220,202
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			215,225				196,309
Amortization of deferred financing costs and debt premiums			8,033				6,922
Amortization of above and below market lease intangibles, net			(9,964	)			(11,414	)
Stock-based compensation, net of capitalization			10,620				9,864
Equity in income of investments in real estate partnerships			(38,540	)			(28,254	)
(Gain) loss on sale of real estate, net of tax			(7,462	)			193
Provision for impairment of real estate, net of tax			—				1,262
Distribution of earnings from investments in real estate partnerships			34,870				34,502
Deferred compensation expense (income)			2,670				(253	)
Realized and unrealized gain on investments			(3,323	)			(87	)
Changes in assets and liabilities:
Tenant and other receivables			(17,258	)			(1,670	)
Deferred leasing costs			(10,178	)			(8,802	)
Other assets			(14,434	)			(15,123	)
Accounts payable and other liabilities			13,994				464
Tenants' security, escrow deposits and prepaid rent			(2,760	)			964
Net cash provided by operating activities			434,030				405,079
Cash flows from investing activities:
Acquisition of operating real estate, net of cash acquired of $787 in 2025			(32,766	)			(83,261	)
Real estate development and capital improvements			(212,003	)			(204,657	)
Proceeds from sale of real estate			13,882				7,165
Proceeds from property insurance casualty claims			3,301				—
Issuance of notes receivable			(1,500	)			—
Collection of notes receivable			1,069				180
Investments in real estate partnerships			(35,142	)			(6,217	)
Return of capital from investments in real estate partnerships			40,914				—
Dividends on investment securities			1,646				1,081
Purchase of investment securities			(6,109	)			(96,226	)
Proceeds from sale of investment securities			7,551				9,242
Net cash used in investing activities			(219,157	)			(372,693	)

		Six months ended June 30,
		2026				2025
Cash flows from financing activities:
Tax withholding on stock-based compensation			(9,108	)			(6,783	)
Redemption of exchangeable operating partnership units			—				(2,046	)
Proceeds from sale of treasury stock			123				462
Contributions from noncontrolling interests			2,311				8,416
Distributions to and redemptions of noncontrolling interests			(7,411	)			(6,130	)
Distributions to exchangeable operating partnership unit holders			(5,796	)			(1,546	)
Dividends paid to common shareholders			(275,936	)			(255,455	)
Dividends paid to preferred shareholders			(6,826	)			(6,826	)
Repayment of fixed rate unsecured notes			(100,000	)			—
Proceeds from issuance of fixed rate unsecured notes, net of debt discount			447,192				397,116
Proceeds from unsecured credit facilities			285,000				395,000
Repayment of unsecured credit facilities			(375,000	)			(430,000	)
Proceeds from notes payable			—				10,000
Repayment of notes payable			(88,000	)			(32,787	)
Scheduled principal payments			(6,412	)			(5,060	)
Payment of financing costs			(4,057	)			(3,812	)
Net cash (used in) provided by financing activities			(143,920	)			60,549
Net increase in cash and cash equivalents and restricted cash			70,953				92,935
Cash and cash equivalents and restricted cash at beginning of the period			120,661				61,884
Cash and cash equivalents and restricted cash at end of the period		$	191,614				154,819
Supplemental disclosure of cash flow information:
Cash paid for interest (net of capitalized interest of $5,061 and $4,534 in 2026 and 2025, respectively)		$	99,024				90,174
Supplemental disclosure of non-cash transactions:
Common and Preferred stock, and exchangeable operating partnership dividends declared but not paid		$	143,423				131,017
Acquisition of operating real estate:
Acquired lease intangible assets		$	3,214				9,725
Notes payable assumed in acquisition, at fair value		$	—				40,060
Intangible liabilities, Accounts payable and other liabilities		$	3,126				18,945
Acquisition of previously unconsolidated real estate investments:
Acquired lease intangible assets		$	1,329				4,308
Notes payable assumed in acquisition, at fair value		$	—				16,749
Change in accrued capital expenditures		$	8,553				15,244
Contributions to investments in real estate partnerships		$	14,318				518

The accompanying notes are an integral part of the consolidated financial statements.

REGENCY CENTERS, L.P.

Consolidated Balance Sheets

June 30, 2026 and December 31, 2025

(in thousands, except unit data)

		2026				2025
Assets		(unaudited)
Net real estate investments:
Real estate assets, at cost		$	14,767,372				14,561,924
Less: accumulated depreciation			3,442,113				3,267,728
Real estate assets, net			11,325,259				11,294,196
Investments in sales-type leases, net			16,848				16,727
Investments in real estate partnerships			362,810				349,856
Net real estate investments			11,704,917				11,660,779
Cash, cash equivalents, and restricted cash, including $5,643 and $16,004 of restricted cash at June 30, 2026 and December 31, 2025, respectively			191,614				120,661
Tenant and other receivables, net			291,660				273,862
Deferred leasing costs, less accumulated amortization of $142,917 and $138,391 at June 30, 2026 and December 31, 2025, respectively			101,673				97,253
Acquired lease intangible assets, less accumulated amortization of $440,278 and $421,433 at June 30, 2026 and December 31, 2025, respectively			233,561				254,201
Right of use assets, net			311,846				315,804
Other assets			287,671				278,723
Total assets		$	13,122,942				13,001,283
Liabilities and Capital
Liabilities:
Notes payable, net		$	4,873,182				4,619,301
Unsecured credit facility			30,000				120,000
Accounts payable and other liabilities			399,523				391,847
Acquired lease intangible liabilities, less accumulated amortization of $256,559 and $243,040 at June 30, 2026 and December 31, 2025, respectively			345,570				356,454
Lease liabilities			240,325				242,368
Tenants' security, escrow deposits and prepaid rent			87,154				89,707
Total liabilities			5,975,754				5,819,677
Commitments and contingencies			—				—
Capital:
Partners' capital:
Preferred units $0.01 par value per unit, 30,000,000 units authorized; 9,000,000 units issued and outstanding, in the aggregate, in Series A and Series B at June 30, 2026 and December 31, 2025			225,000				225,000
General partner's common units, 183,117,863 and 182,902,234 units issued and outstanding at June 30, 2026 and December 31, 2025, respectively			6,650,525				6,686,110
Limited partners' common units, 3,838,188 and 3,838,188 units issued and outstanding at June 30, 2026 and December 31, 2025 respectively			144,222				144,940
Accumulated other comprehensive loss			(574	)			(4,220	)
Total partners' capital			7,019,173				7,051,830
Noncontrolling interest: Limited partners' interests in consolidated partnerships			128,015				129,776
Total capital			7,147,188				7,181,606
Total liabilities and capital		$	13,122,942				13,001,283

The accompanying notes are an integral part of the consolidated financial statements.

REGENCY CENTERS, L.P.

Consolidated Statements of Operations

For the periods ended June 30, 2026, and 2025

(in thousands, except per unit data)

(unaudited)

		Three months ended June 30,								Six months ended June 30,
		2026				2025				2026				2025
Revenues:
Lease income		$	402,798				369,105			$	805,411				740,184
Other property income			3,520				4,499				6,427				7,520
Management, transaction, and other fees			7,192				7,244				14,125				14,056
Total revenues			413,510				380,848				825,963				761,760
Operating expenses:
Depreciation and amortization			108,803				99,535				215,225				196,309
Property operating expense			70,946				60,759				144,246				129,218
Real estate taxes			49,985				47,500				101,395				93,860
General and administrative			27,567				25,480				53,173				47,080
Other operating expenses			2,037				1,944				3,038				3,632
Total operating expenses			259,338				235,218				517,077				470,099
Other expense, net:
Interest expense, net			53,582				50,272				105,767				98,285
Provision for impairment of real estate			—				1,262				—				1,262
(Gain) Loss on sale of real estate, net of tax			(268	)			294				(7,462	)			193
Net investment income			(2,721	)			(788	)			(3,416	)			(27	)
Total other expense, net			50,593				51,040				94,889				99,713
Income before equity in income of investments in real estate partnerships			103,579				94,590				213,997				191,948
Equity in income of investments in real estate partnerships			16,160				13,759				38,540				28,254
Net income			119,739				108,349				252,537				220,202
Limited partners' interests in consolidated partnerships			(1,615	)			(1,742	)			(3,247	)			(3,366	)
Net income attributable to the Partnership			118,124				106,607				249,290				216,836
Preferred unit distributions			(3,413	)			(3,413	)			(6,826	)			(6,826	)
Net income attributable to common unit holders		$	114,711				103,194			$	242,464				210,010
Net income attributable to common unit holders:
Per common unit - basic		$	0.61				0.57			$	1.30				1.15
Per common unit - diluted		$	0.61				0.56			$	1.30				1.15

The accompanying notes are an integral part of the consolidated financial statements.

REGENCY CENTERS, L.P.

Consolidated Statements of Comprehensive Income

For the periods ended June 30, 2026, and 2025

(in thousands)

(unaudited)

		Three months ended June 30,								Six months ended June 30,
		2026				2025				2026				2025
Net income		$	119,739				108,349			$	252,537				220,202
Other comprehensive income (loss):
Effective portion of change in fair value of derivative instruments:
Effective portion of change in fair value of derivative instruments			2,557				(1,295	)			4,735				(3,943	)
Reclassification adjustment of derivative instruments included in net income			(377	)			(1,015	)			(842	)			(2,760	)
Unrealized (loss) gain on available-for-sale debt securities			22				94				(55	)			288
Other comprehensive income (loss)			2,202				(2,216	)			3,838				(6,415	)
Comprehensive income			121,941				106,133				256,375				213,787
Less: comprehensive income attributable to noncontrolling interests:
Net income attributable to noncontrolling interests			1,615				1,742				3,247				3,366
Other comprehensive income (loss) attributable to noncontrolling interests			34				(130	)			92				(360	)
Comprehensive income attributable to noncontrolling interests			1,649				1,612				3,339				3,006
Comprehensive income attributable to the Partnership		$	120,292				104,521			$	253,036				210,781

The accompanying notes are an integral part of the consolidated financial statements.

REGENCY CENTERS, L.P.

Consolidated Statements of Capital

For the three months ended June 30, 2026 and 2025

(in thousands)

(unaudited)

		General Partner Preferred and Common Units				Limited Partners				Accumulated Other Comprehensive Income (Loss)				Total Partners’ Capital				Noncontrolling Interests in Limited Partners’ Interest in Consolidated Partnerships				Total Capital
Balance at March 31, 2025		$	6,701,293				40,584				(1,715	)			6,740,162				136,278				6,876,440
Net income			106,021				586				—				106,607				1,742				108,349
Other comprehensive loss
Other comprehensive loss before reclassification			—				(7	)			(1,146	)			(1,153	)			(48	)			(1,201	)
Amounts reclassified from accumulated other comprehensive loss			—				(6	)			(927	)			(933	)			(82	)			(1,015	)
Contributions from partners			—				—				—				—				5,439				5,439
Distributions to partners			(127,984	)			(752	)			—				(128,736	)			(2,620	)			(131,356	)
Preferred unit distributions			(3,413	)			—				—				(3,413	)			—				(3,413	)
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization			5,570				—				—				5,570				—				5,570
Repurchase of exchangeable operating partnership units			—				(2,046	)			—				(2,046	)			—				(2,046	)
Common units repurchased as a result of common stock repurchased by Parent Company, net of issuances			173				—				—				173				—				173
Balance at June 30, 2025		$	6,681,660				38,359				(3,788	)			6,716,231				140,709				6,856,940
Balance at March 31, 2026		$	6,895,522				144,705				(2,687	)			7,037,540				127,367				7,164,907
Net income			115,764				2,360				—				118,124				1,615				119,739
Other comprehensive income
Other comprehensive income before reclassification			—				51				2,451				2,502				77				2,579
Amounts reclassified from accumulated other comprehensive income			—				4				(338	)			(334	)			(43	)			(377	)
Deferred compensation plan, net			(49	)			—				—				(49	)			—				(49	)
Contributions from partners			—				—				—				—				2,074				2,074
Distributions to partners			(138,249	)			(2,898	)			—				(141,147	)			(3,075	)			(144,222	)
Preferred unit distributions			(3,413	)			—				—				(3,413	)			—				(3,413	)
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization			6,204				—				—				6,204				—				6,204
Common units repurchased as a result of common stock repurchased by Parent Company, net of issuances			(254	)			—				—				(254	)			—				(254	)
Balance at June 30, 2026		$	6,875,525				144,222				(574	)			7,019,173				128,015				7,147,188

The accompanying notes are an integral part of the consolidated financial statements.

REGENCY CENTERS, L.P.

Consolidated Statements of Capital

For the six months ended June 30, 2026 and 2025

(in thousands)

(unaudited)

		General Partner Preferred and Common Units				Limited Partners				Accumulated Other Comprehensive Income (Loss)				Total Partners' Capital				Noncontrolling Interests in Limited Partners' Interest in Consolidated Partnerships				Total Capital
Balance at December 31, 2024		$	6,721,920				40,744				2,226				6,764,890				135,417				6,900,307
Net income			215,608				1,228				—				216,836				3,366				220,202
Other comprehensive loss
Other comprehensive loss before reclassification			—				(27	)			(3,435	)			(3,462	)			(193	)			(3,655	)
Amounts reclassified from accumulated other comprehensive loss			—				(14	)			(2,579	)			(2,593	)			(167	)			(2,760	)
Adjustment for noncontrolling interests in the Operating Partnership			2,210				(2,210	)			—				—				—				—
Contributions from partners			—				2,210				—				2,210				8,416				10,626
Distributions to partners			(255,960	)			(1,526	)			—				(257,486	)			(6,130	)			(263,616	)
Preferred unit distributions			(6,826	)			—				—				(6,826	)			—				(6,826	)
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization			11,118				—				—				11,118				—				11,118
Repurchase of exchangeable operating partnership units			—				(2,046	)			—				(2,046	)			—				(2,046	)
Common units repurchased as a result of common stock repurchased by Parent Company, net of issuances			(6,410	)			—				—				(6,410	)			—				(6,410	)
Balance at June 30, 2025		$	6,681,660				38,359				(3,788	)			6,716,231				140,709				6,856,940
Balance at December 31, 2025		$	6,911,110				144,940				(4,220	)			7,051,830				129,776				7,181,606
Net income			244,313				4,977				—				249,290				3,247				252,537
Other comprehensive income
Other comprehensive income before reclassification			—				94				4,406				4,500				180				4,680
Amounts reclassified from accumulated other comprehensive income			—				6				(760	)			(754	)			(88	)			(842	)
Deferred compensation plan, net			(52	)			—				—				(52	)			—				(52	)
Contributions from partners			—				—				—				—				2,311				2,311
Distributions to partners			(276,473	)			(5,795	)			—				(282,268	)			(7,411	)			(289,679	)
Preferred unit distributions			(6,826	)			—				—				(6,826	)			—				(6,826	)
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization			12,186				—				—				12,186				—				12,186
Common units repurchased as a result of common stock repurchased by Parent Company, net of issuances			(8,733	)			—				—				(8,733	)			—				(8,733	)
Balance at June 30, 2026		$	6,875,525				144,222				(574	)			7,019,173				128,015				7,147,188

The accompanying notes are an integral part of the consolidated financial statements.

REGENCY CENTERS, L.P.

Consolidated Statem****ents of Cash Flows

For the periods ended June 30, 2026, and 2025

(in thousands)

(unaudited)

		Six months ended June 30,
		2026				2025
Cash flows from operating activities:
Net income		$	252,537				220,202
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			215,225				196,309
Amortization of deferred financing costs and debt premiums			8,033				6,922
Amortization of above and below market lease intangibles, net			(9,964	)			(11,414	)
Stock-based compensation, net of capitalization			10,620				9,864
Equity in income of investments in real estate partnerships			(38,540	)			(28,254	)
(Gain) loss on sale of real estate, net of tax			(7,462	)			193
Provision for impairment of real estate, net of tax			—				1,262
Distribution of earnings from investments in real estate partnerships			34,870				34,502
Deferred compensation expense (income)			2,670				(253	)
Realized and unrealized gain on investments			(3,323	)			(87	)
Changes in assets and liabilities:
Tenant and other receivables			(17,258	)			(1,670	)
Deferred leasing costs			(10,178	)			(8,802	)
Other assets			(14,434	)			(15,123	)
Accounts payable and other liabilities			13,994				464
Tenants' security, escrow deposits and prepaid rent			(2,760	)			964
Net cash provided by operating activities			434,030				405,079
Cash flows from investing activities:
Acquisition of operating real estate, net of cash acquired of $787 in 2025			(32,766	)			(83,261	)
Real estate development and capital improvements			(212,003	)			(204,657	)
Proceeds from sale of real estate			13,882				7,165
Proceeds from property insurance casualty claims			3,301				—
Issuance of notes receivable			(1,500	)			—
Collection of notes receivable			1,069				180
Investments in real estate partnerships			(35,142	)			(6,217	)
Return of capital from investments in real estate partnerships			40,914				—
Dividends on investment securities			1,646				1,081
Purchase of investment securities			(6,109	)			(96,226	)
Proceeds from sale of investment securities			7,551				9,242
Net cash used in investing activities			(219,157	)			(372,693	)

		Six months ended June 30,
		2026				2025
Cash flows from financing activities:
Tax withholding on stock-based compensation			(9,108	)			(6,783	)
Redemption of exchangeable operating partnership units			—				(2,046	)
Proceeds from sale of treasury stock			123				462
Contributions from noncontrolling interests			2,311				8,416
Distributions to and redemptions of noncontrolling interests			(7,411	)			(6,130	)
Distributions to partners			(281,732	)			(257,001	)
Dividends paid to preferred unit holders			(6,826	)			(6,826	)
Repayment of fixed rate unsecured notes			(100,000	)			—
Proceeds from issuance of fixed rate unsecured notes, net of debt discount			447,192				397,116
Proceeds from unsecured credit facilities			285,000				395,000
Repayment of unsecured credit facilities			(375,000	)			(430,000	)
Proceeds from notes payable			—				10,000
Repayment of notes payable			(88,000	)			(32,787	)
Scheduled principal payments			(6,412	)			(5,060	)
Payment of financing costs			(4,057	)			(3,812	)
Net cash (used in) provided by financing activities			(143,920	)			60,549
Net increase in cash and cash equivalents and restricted cash			70,953				92,935
Cash and cash equivalents and restricted cash at beginning of the period			120,661				61,884
Cash and cash equivalents and restricted cash at end of the period		$	191,614				154,819
Supplemental disclosure of cash flow information:
Cash paid for interest (net of capitalized interest of $5,061 and $4,534 in 2026 and 2025, respectively)		$	99,024				90,174
Supplemental disclosure of non-cash transactions:
Common and Preferred units, and exchangeable operating partnership units distributions declared but not paid		$	143,423				131,017
Acquisition of operating real estate:
Acquired lease intangible assets		$	3,214				9,725
Notes payable assumed in acquisition, at fair value		$	—				40,060
Intangible liabilities, Accounts payable and other liabilities		$	3,126				18,945
Acquisition of previously unconsolidated real estate investments:
Acquired lease intangible assets		$	1,329				4,308
Notes payable assumed in acquisition, at fair value		$	—				16,749
Change in accrued capital expenditures		$	8,553				15,244
Contributions to investments in real estate partnerships		$	14,318				518

The accompanying notes are an integral part of the consolidated financial statements.

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.

Notes to Unaudited Consolidated Financial Statements

June 30, 2026

1.	Organization and Significant Accounting Policies

General

Regency Centers Corporation (the "Parent Company") began its operations as a REIT in 1993 and is the general partner of Regency Centers, L.P. (the "Operating Partnership"). The Parent Company primarily engages in the ownership, management, leasing, acquisition, development, and redevelopment of shopping centers through the Operating Partnership and has no other assets other than through its investment in the Operating Partnership. Its only indebtedness consists of $100 million of unsecured private placement notes, which are guaranteed by the Operating Partnership, which the Company plans to payoff at maturity in 2026. The Parent Company guarantees all of the unsecured debt of the Operating Partnership.

As of June 30, 2026, the Parent Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis (the "Company" or "Regency") owned 392 properties and held partial interests in an additional 90 properties through unconsolidated Investments in real estate partnerships (also referred to as "joint ventures" or "investment partnerships").

Basis of Presentation

The information included in this Report should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2025 (the “Annual Report on Form 10-K”), as certain disclosures in this Report that would duplicate those included in such Annual Report on Form 10-K are not included in these consolidated financial statements. The consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary to fairly state the results for the interim periods presented. These adjustments are considered to be of a normal recurring nature.

Estimates, Risks and Uncertainties

The preparation of the Consolidated Financial Statements in conformity with Generally Accepted Accounting Principles ("GAAP") requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of commitments and contingent assets and liabilities, as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates in the Company's financial statements relate to the net carrying values of its real estate investments, collectibility of lease income, and acquired lease intangible assets and liabilities. It is possible that the estimates and assumptions that have been utilized in the preparation of the Consolidated Financial Statements could change significantly if economic conditions were to change.

The success of the Company's tenants in operating their businesses and their corresponding ability to pay rent may be influenced by evolving political, economic, trade, tax and immigration policies and macroeconomic uncertainty, and the success of the Company's tenants, in the aggregate, is important to the operating and financial success of the Company. These include, without limitation, changes in trade and tariff policies (as well as potential trade disputes and retaliatory actions by other countries), entry into and termination of treaties and trade agreements, and economic sanctions, as well as global economic conflicts. Additionally, geopolitical and macroeconomic challenges, including the war involving Russia and Ukraine, and conflicts in the Middle East involving the U.S. and its allies, Iran and its allies, and Israel, could adversely impact aspects of the U.S. economy and, therefore, consumer confidence and spending.

The policies implemented by the U.S. government to address these and related issues, including changes by the Board of Governors of the Federal Reserve System of its benchmark federal funds rate, increases or decreases in federal government spending, and economic sanctions and tariffs, could result in adverse impacts on the U.S. economy, including inflation, reduction in consumer confidence and spending, a slowing of growth, and potentially a recession, thereby adversely impacting the costs to our tenants of operating their businesses, demand for their products and services, and their ability to pay rent, and/or decreasing future demand for space in shopping centers, which could adversely impact occupancy rates and rents. The potential impact of current macroeconomic and geopolitical challenges on the Company's financial condition, results of operations, and cash flows is subject to change and continues to depend on the extent and duration of these risks and uncertainties. See Item 1A of Part I of the Company's Annual Report on Form 10-K, as supplemented by the discussion in Item 1A of Part II of this Quarterly Report on Form 10-Q, for a more detailed discussion of the Risk Factors potentially impacting the Company's business and results of operations.

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.

Notes to Unaudited Consolidated Financial Statements

June 30, 2026

Investment Risk Concentrations

As of June 30, 2026, no single tenant comprised 10% or more of our aggregate annualized base rent ("ABR"). As of June 30, 2026, the Company had three geographic concentrations that individually accounted for at least 10% of its aggregate ABR. Real estate properties located in California, Florida and the New York-Newark-Jersey City core-based statistical area accounted for 24.7%, 19.9% and 12.8% of ABR, respectively. As a result, this geographic concentration of our portfolio makes it potentially more susceptible to adverse weather, natural disasters or economic events that may impact these locations. None of Regency's shopping centers are located outside the United States.

Consolidation

The Company consolidates properties that are wholly-owned and properties where it owns less than 100% but holds a controlling financial interest in the entity. Controlling financial interest is determined using an evaluation based on accounting standards related to the consolidation of Variable Interest Entities ("VIEs") and voting interest entities.

Ownership of the Parent Company

The Parent Company currently has a single class of common stock and two series of preferred stock outstanding.

Ownership of the Operating Partnership

The Operating Partnership's capital includes Common Units and Preferred Units. As of June 30, 2026, the Parent Company owned approximately 97.9% of the outstanding Common Units, with the remaining limited partners' Common Units held by third parties ("Exchangeable operating partnership units" or "EOP units"). The Parent Company currently owns all of the Preferred Units.

Real Estate Partnerships

As of June 30, 2026, the Company held partial ownership interests in 107 properties through various real estate partnerships, of which 17 are consolidated partnerships. These partnerships were formed for the purpose of owning and operating real estate properties. The Company's partners in these arrangements include institutional investors, real estate developers or operators, and passive investors (collectively, the "Partners" or "Limited Partners"). The Company’s involvement in these partnerships is through its ownership of its equity interests and its role in property-level management.

The assets of these partnerships are restricted to use by the respective partnerships and cannot be directly reached by general creditors of the Company. Similarly, the obligations of the partnerships are backed by, and can only be settled through the assets of these partnerships or by additional capital contributions by the partners, except to the extent that the Company has provided contractual payment guarantees.

Some of these entities have been determined to be variable interest entities ("VIEs") under applicable accounting guidelines. This determination is primarily based on the assessment that the Limited Partners lack substantive kick-out rights (i.e., the ability to remove the general or managing partner with a simple majority vote or less) and do not possess substantive participating rights.

For those VIE partnerships in which the Company is deemed to be the primary beneficiary in accordance with GAAP, the Company consolidates the entity in its financial statements and the Limited Partners’ ownership interests in such entities are reported as noncontrolling interests.

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.

Notes to Unaudited Consolidated Financial Statements

June 30, 2026

The carrying amounts of VIEs' assets and liabilities included in the Company's consolidated financial statements, exclusive of the Operating Partnership, are as follows:

(in thousands)		June 30, 2026				December 31, 2025
Assets
Real estate assets, net		$	258,021				332,759
Cash, cash equivalents and restricted cash			17,091				21,890
Tenant and other receivables, net			7,273				7,614
Deferred costs, net			4,068				6,715
Acquired lease intangible assets, net			3,828				4,328
Right of use assets, net			—				17,656
Other assets			826				775
Total Assets		$	291,107				391,737
Liabilities
Notes payable		$	23,613				23,771
Accounts payable and other liabilities			7,506				12,758
Acquired lease intangible liabilities, net			9,941				10,119
Tenants' security, escrow deposits and prepaid rent			959				960
Lease liabilities			—				19,559
Total Liabilities		$	42,019				67,167

For partnerships in which the Company is not the primary beneficiary and does not hold a controlling financial interest but is able to exercise significant influence, the Company accounts for its investments using the equity method of accounting.

Revenues, and Tenant and other Receivables

Income within Management, transaction, and other fees is primarily derived from contracts with the Company's investments in real estate partnerships. The primary components of these revenue streams, the timing of satisfying the performance obligations, and amounts are as follows:

				Three months ended June 30,								Six months ended June 30,
(in thousands)		Timing of satisfaction of performance obligations		2026				2025				2026				2025
Management, transaction, and other fees:
Property management services		Over time		$	4,061				4,151			$	8,143				8,261
Asset management services		Over time			1,760				1,746				3,535				3,463
Leasing services		Point in time			1,054				1,003				1,883				1,875
Other transaction fees		Point in time			317				344				564				457
Total management, transaction, and other fees				$	7,192				7,244			$	14,125				14,056

The accounts receivable for total management, transactions, and other fees, which are included within Tenant and other receivables, net in the accompanying Consolidated Balance Sheets, are $18.0 million and $17.8 million, as of June 30, 2026 and December 31, 2025, respectively.

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.

Notes to Unaudited Consolidated Financial Statements

June 30, 2026

Recent Accounting Pronouncements

The following table provides a brief description of recent accounting pronouncements and the expected impact on our financial statements:

Standard		Description		Effective date		Effect on the financial statements or other significant matters
Recently issued:

ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ASU 2025-01, Income Statement - Reporting Comprehensive, Income -Expense Disaggregation Disclosures (Subtopic 220-40), Clarifying the Effective Date		ASU 2024-03 requires public business entities to provide additional disclosures that disaggregate certain income statement expense captions into specified categories. The ASU does not impact the presentation of expenses on the face of the income statement but requires additional footnote disclosures to provide users of the financial statements with greater insight into the nature and composition of reported expenses.		Fiscal years beginning January 1, 2027, and interim periods for fiscal years beginning January 1, 2028; Early adoption permitted.		The Company is assessing the impact this ASU will have on the Company’s financial statement disclosures. While the adoption of this standard is not expected to have a material impact on the financial position or results of operations, it will require enhanced footnote disclosures related to the disaggregation of income statement expenses.

ASU 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity		ASU 2025-03 clarifies the guidance in determining the accounting acquirer in a business combination effected primarily by exchanging equity interests when the acquiree is a VIE that meets the definition of a business.		January 1, 2027; Early adoption is permitted.		The Company is currently evaluating the impact of this ASU, but the adoption will not have a material effect on the Company's financial position or results of operations.

ASU 2025-06, Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software		ASU 2025-06 amends certain aspects of the accounting for and disclosure of software costs and makes targeted improvements for accounting for internally developed software to be sold or marketed externally.		January 1, 2028; Early adoption is permitted.		The Company is currently evaluating the impact of this ASU, but the adoption will not have a material effect on the Company’s financial position or results of operations.

ASU 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818)		ASU 2026-02 establishes a comprehensive accounting framework for environmental credits and related environmental compliance obligations. The ASU provides guidance on the recognition, measurement, presentation, derecognition, and disclosure of environmental credits, including renewable energy certificates, carbon offsets, emissions allowances, and similar instruments.		January 1, 2028; Early adoption is permitted.		The Company is currently evaluating the impact of this ASU, but the adoption will not have a material effect on the Company’s financial position or results of operations.

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.

Notes to Unaudited Consolidated Financial Statements

June 30, 2026

2.	Real Estate Investments

The following tables detail the properties acquired for the periods set forth below:

(in thousands)		Six months ended June 30, 2026
Date Purchased	Property Name	City/State	Property Type	Regency's Ownership	Purchase Price (1)				Debt Assumed, Net of Discounts (Premium) (1)				Intangible Assets (1)				Intangible Liabilities (1)
Consolidated
1/1/2026	Haddon Commons (2)	Westmont, NJ	Operating	100%	$	10,500				—				1,329				1,217
1/28/2026	Crystal Brook Corner	Brookhaven, NY	Redevelopment	100%		30,000				—				2,245				2,068
4/24/2026	Pablo Plaza	Jacksonville Beach, FL	Outparcel	100%		2,300				—				179				—
5/6/2026	Berkshire Commons	Naples, FL	Outparcel	100%		9,000				—				790				748
6/25/2026	The Berkeley at Durbin Park	St Johns, FL	Development	100%		7,000				—				—				—
Total consolidated					$	58,800				—				4,543				4,033
Unconsolidated
6/11/2026	Shops at Highland Walk	Denver, CO	Operating	20%		37,100				—				3,201				728
Total unconsolidated					$	37,100				—				3,201				728
Total property acquisitions					$	95,900				—				7,744				4,761

(1)

Amounts for purchase price and allocation are reflected at 100%.

(2)

This property was held within an unconsolidated real estate partnership, in which the Company held a 40% interest. Effective January 1, 2026, the Company purchased its partner's remaining 60% ownership interest in this property. Upon acquisition, this property was consolidated into Regency's financial statements.

(in thousands)		Six months ended June 30, 2025
Date Purchased	Property Name	City/State	Property Type	Regency's Ownership	Purchase Price (1)				Debt Assumed, Net of Discounts (Premium) (1)				Intangible Assets (1)				Intangible Liabilities (1)
Consolidated
1/1/2025	Putnam Plaza (2)	Carmel Hamlet, NY	Operating	100%	$	31,000				16,749				4,308				460
1/10/2025	Orange Meadows	Orange, CT	Outparcel	100%		4,200				—				354				299
3/14/2025	Brentwood Place	Nashville, TN	Operating	100%		118,500				40,060				9,371				18,295
Total consolidated					$	153,700				56,809				14,033				19,054
Unconsolidated
5/12/2025	Armonk Square	Armonk, NY	Operating	20%		26,250				11,884				2,405				5,498
Total unconsolidated					$	26,250				11,884				2,405				5,498
Total property acquisitions					$	179,950				68,693				16,438				24,552

(1)

Amounts for purchase price and allocation are reflected at 100%.

(2)

This property was held within a single property unconsolidated real estate partnership, in which the Company held a 66.7% ownership interest. Effective January 1, 2025, the Company purchased its partner's 33.3% ownership interest. Upon acquisition, this property was consolidated into Regency's financial statements.

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.

Notes to Unaudited Consolidated Financial Statements

June 30, 2026

3.	Property Dispositions

The following table provides a summary of consolidated operating properties and land parcels sold during the current period:

		Three months ended June 30,								Six months ended June 30,
(in thousands, except number sold data)		2026				2025				2026				2025
Net proceeds from sale of real estate investments		$	2,052				7,165			$	13,882				7,165
Gain (Loss) on sale of real estate, net of tax			268				(294	)			7,462				(193	)
Provision for impairment of real estate sold (1)			—				554				—				554
Number of operating properties sold			1				1				1				1
Number of land parcels sold			1				—				3				—
Percent interest sold		100%				100%				100%				100%

(1)

The Company recognized a total Provision for impairment of $1.3 million during the three and six months ended June 30, 2025 which includes a $0.7 million impairment charge related to the operating property held for sale as of June 30, 2025 and subsequently sold in July 2025.

4.	Other Assets

The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets as of the periods set forth below:

(in thousands)		June 30, 2026				December 31, 2025
Goodwill		$	166,739				166,739
Investments			51,528				51,373
Prepaid and other			37,497				34,575
Derivative assets			7,304				6,778
Furniture, fixtures, and equipment, net ("FF&E")			19,578				12,728
Deferred financing costs, net			5,025				6,530
Total other assets		$	287,671				278,723

5.	Notes Payable and Unsecured Credit Facilities

The Company's outstanding debt, net of unamortized debt premium (discount) and debt issuance costs, consisted of the following as of the dates set forth below:

(in thousands)		Scheduled Maturity Date		Weighted Average Contractual Rate		Weighted Average Effective Rate		June 30, 2026				December 31, 2025
Notes payable:
Fixed rate mortgage loans		1/1/2027 - 10/1/2038		4.0%		4.9%		$	386,028				475,948
Variable rate mortgage loans (1)		10/1/2026 - 2/20/2032		4.4%		4.6%			268,098				270,489
Fixed rate unsecured debt		8/11/2026 - 3/15/2049		4.2%		4.4%			4,219,056				3,872,864
Total notes payable, net									4,873,182				4,619,301
Unsecured credit facility:
$1.5 Billion line of credit (the "Line") (1)(2)		3/23/2028		4.4%		4.7%			30,000				120,000
Total unsecured credit facility									30,000				120,000
Total debt outstanding								$	4,903,182				4,739,301

(1)

As of June 30, 2026, 99.5% of the variable rate debt are fixed through interest rate swaps.

(2)

The Company has the option to extend the maturity date by two additional six-month periods beyond the Scheduled Maturity Date set forth in the table above. Weighted average effective rate for the Line is calculated based on a fully drawn Line balance using the period end variable rate.

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.

Notes to Unaudited Consolidated Financial Statements

June 30, 2026

Significant financing activity during 2026 includes:

On February 2, 2026, $88.0 million of a fixed rate mortgage loan was repaid at maturity.

On February 18, 2026, the Company issued $450.0 million aggregate principal amount of senior unsecured notes due 2033 (the “2026 Notes”). The 2026 Notes were issued at 99.376% of par and bear interest at a rate of 4.50% per annum.

On May 11, 2026, the Company repaid $100.0 million aggregate principal amount of unsecured private placement notes at maturity. The repayment was funded with available liquidity, including proceeds from the Company's February 2026 senior unsecured notes offering.

Scheduled principal payments and maturities on notes payable and the unsecured credit facility were as follows:

(in thousands)		June 30, 2026
Scheduled Principal Payments and Maturities by Year:		Scheduled Principal Payments				Mortgage Loan Maturities				Unsecured Maturities (1)				Total
2026 (2)		$	6,417				59,851				100,000				166,268
2027			10,051				222,558				525,000				757,609
2028			8,365				51,939				330,000				390,304
2029			5,619				97,120				425,000				527,739
2030			5,445				2,163				600,000				607,608
Beyond 5 Years			24,209				190,681				2,300,000				2,514,890
Unamortized debt premium/(discount) and issuance costs			—				(30,292	)			(30,944	)			(61,236	)
Total		$	60,106				594,020				4,249,056				4,903,182

(1)

Includes unsecured public and private debt and unsecured credit facilities.

(2)

Reflects scheduled principal payments and maturities for the remainder of the year.

The Company was in compliance as of June 30, 2026, with all debt covenants.

6.	Derivative Instruments

The Company may use derivative financial instruments, including interest rate swaps, caps, options, floors, and other interest rate derivative contracts, to hedge all or a portion of the interest rate risk associated with its borrowings. The Company does not intend to utilize derivative instruments for speculative transactions or purposes other than mitigation of interest rate risk. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements are not able to perform under the agreements. To mitigate this risk, the Company only enters into derivative financial instruments with counterparties that meet the Company's stringent standards for creditworthiness. The Company does not anticipate that any of the counterparties will fail to meet their obligations.

Detail on the Company's interest rate derivatives outstanding is as follows:

(in thousands, except number of instruments data)
Interest Rate Swaps		June 30, 2026				December 31, 2025
Notional amount		$	296,806				299,375
Number of instruments			15				15

Detail on the fair value of the Company's interest rate derivatives is as follows:

(in thousands)
Interest rate swaps classified as:		June 30, 2026				December 31, 2025
Derivative assets		$	7,304				6,778
Derivative liabilities			(459	)			(1,606	)

Derivatives in an asset position are included within Other assets in the accompanying Consolidated Balance Sheets, while those in a liability position are included within Accounts payable and other liabilities.

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.

Notes to Unaudited Consolidated Financial Statements

June 30, 2026

These derivative financial instruments are all interest rate swaps, which are designated and qualify as cash flow hedges. The Company does not enter into derivative instruments for trading or speculative purposes. As of June 30, 2026, all of the Company's derivatives are designated as cash flow hedges.

The changes in the fair value of derivatives designated and qualifying as cash flow hedges are recorded in Accumulated other comprehensive income ("AOCI") and subsequently reclassified into earnings in the period that the hedged interest payments affect earnings.

The following table represents the effect of the derivative financial instruments on the accompanying Consolidated Financial Statements:

Location and Amount of (Loss) Gain Recognized in OCI on Derivative										Location and Amount of Gain Reclassified from AOCI into Net Income										Total amounts presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded
		Three months ended June 30,										Three months ended June 30,										Three months ended June 30,
(in thousands)		2026				2025						2026				2025						2026				2025
Interest rate swaps		$	2,557				(1,295	)		Interest expense, net		$	(377	)			(1,015	)		Interest expense, net		$	53,582				50,272
		Six months ended June 30,										Six months ended June 30,										Six months ended June 30,
(in thousands)		2026				2025						2026				2025						2026				2025
Interest rate swaps		$	4,735				(3,943	)		Interest expense, net		$	(842	)			(2,760	)		Interest expense, net		$	105,767				98,285

As of June 30, 2026, the Company expects approximately $1.6 million of accumulated comprehensive income on derivative instruments, including the Company's share from its Investments in real estate partnerships, to be reclassified into earnings during the next 12 months.

7.	Leases

Substantially all of the Company's leases are classified as operating leases. The Company's Lease income is comprised of both fixed and variable income. Fixed and in-substance fixed lease income includes stated amounts per lease contracts, which are primarily related to base rent, and in some cases stated amounts for common area maintenance, real estate taxes and insurance (collectively, "Recoverable Costs"). Income for these amounts is recognized on a straight-line basis.

Variable lease income includes the following two main items in the lease contracts:

Recoveries from tenants represent the tenants' contractual obligations to reimburse the Company for their portion of Recoverable Costs incurred. Generally, the Company's leases provide for the tenants to reimburse the Company based on the tenants' share of the actual costs incurred in proportion to the tenants' share of leased space in the property.

Percentage rent represents amounts billable to tenants based on the tenants' actual sales volume in excess of levels specified in the lease contract.

The following table provides a disaggregation of lease income recognized as either fixed or variable lease income based on the criteria specified in Topic 842:

		Three months ended June 30,								Six months ended June 30,
(in thousands)		2026				2025				2026				2025
Operating lease income
Fixed and in-substance fixed lease income		$	294,095				271,608			$	583,443				538,344
Variable lease income			105,930				93,762				217,133				192,141
Other lease related income, net:
Above/below market rent and tenant rent inducement amortization, net			5,449				5,731				11,037				12,481
Uncollectible straight-line rent (1)			(894	)			(423	)			(2,921	)			(823	)
Uncollectible amounts billable in lease income			(1,782	)			(1,573	)			(3,281	)			(1,959	)
Total lease income		$	402,798				369,105			$	805,411				740,184

(1)

The amounts include straight-line rent adjustments associated with converting between cash basis and accrual basis of accounting for certain leases.

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.

Notes to Unaudited Consolidated Financial Statements

June 30, 2026

The following table represents the components of Tenant and other receivables, net of amounts considered uncollectible, in the accompanying Consolidated Balance Sheets:

(in thousands)		June 30, 2026				December 31, 2025
Tenant receivables		$	31,797				29,578
Straight-line rent receivables			190,757				180,871
Other receivables (1)			69,106				63,413
Total tenant and other receivables		$	291,660				273,862

(1)

Other receivables include notes receivable, construction receivables, insurance receivables, and amounts due from real estate partnerships for Management, transaction, and other fee income.

8.	Fair Value Measurements

(a) Disclosure of Fair Value of Financial Instruments

All financial instruments of the Company are reflected in the accompanying Consolidated Balance Sheets at amounts which, in management's estimation, reasonably approximate their fair values, except those instruments listed below:

		June 30, 2026								December 31, 2025
(in thousands)		Carrying Amount				Fair Value				Carrying Amount				Fair Value
Financial assets:
Notes receivable		$	32,421				32,435			$	31,987				32,173
Financial liabilities:
Notes payable, net		$	4,873,182				4,751,276			$	4,619,301				4,554,628
Unsecured credit facilities (1)		$	30,000				30,000			$	120,000				120,000

(1)

The carrying amount approximates its fair value due to the variable nature of the terms.

The above fair values represent management's estimate of the amounts that would be received from selling those assets or that would be paid to transfer those liabilities in an orderly transaction between market participants as of June 30, 2026, and December 31, 2025, respectively. These fair value measurements maximize the use of observable inputs which are classified within Level 2 of the fair value hierarchy. However, in situations where there is little, if any, market activity for the asset or liability at the measurement date, the fair value measurement reflects the Company's own judgments about the assumptions that market participants would use in pricing the asset or liability.

The Company develops its judgments based on the best information available at the measurement date, including expected cash flows, appropriate risk-adjusted discount rates, and available observable and unobservable inputs. Service providers involved in fair value measurements are evaluated for competency and qualifications on an ongoing basis. As considerable judgment is often necessary to estimate the fair value of these financial instruments, the fair values presented above are not necessarily indicative of amounts that will be realized upon disposition of the financial instruments.

(b) Fair Value Measurements

The following financial instruments are measured at fair value on a recurring basis:

Securities

The Company has investments in marketable securities that are included within Other assets on the accompanying Consolidated Balance Sheets. The marketable securities, which include mutual funds and exchange-traded funds, are measured at fair value using quoted prices in active markets and are classified as Level 1 inputs of the fair value hierarchy.

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.

Notes to Unaudited Consolidated Financial Statements

June 30, 2026

Changes in the value of securities are recorded within Net investment income in the accompanying Consolidated Statements of Operations, and include the following:

		Three months ended June 30,								Six months ended June 30,
(in thousands)		2026				2025				2026				2025
Unrealized Gain (Loss)			2,566				62				1,071				(2,385	)

Available-for-Sale Debt Securities

Available-for-sale debt securities consist of investments in corporate bonds and agency mortgage-backed securities. These securities are recorded at fair value, which is determined using either recent trade prices for the identical debt instrument or comparable instruments by issuers of similar industry sector, issuer credit rating, duration and security type. The fair value measurements for these are considered Level 2 inputs of the fair value hierarchy. Unrealized gains and losses on these available-for-sale debt securities are recognized through Other comprehensive income.

Interest Rate Derivatives

The fair value of the Company's interest rate derivatives is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty's nonperformance risk in the fair value measurements.

Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its interest rate swaps. As a result, the Company determined that its interest rate swaps valuation in its entirety is classified in Level 2 of the fair value hierarchy.

The following tables present the placement in the fair value hierarchy of assets and liabilities measured at fair value on a recurring basis:

	Fair Value Measurements as of June 30, 2026
					Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
(in thousands)	Balance				(Level 1)				(Level 2)				(Level 3)
Assets:
Securities	$	40,346				40,346				—				—
Available-for-sale debt securities		11,182				—				11,182				—
Interest rate derivatives		7,304				—				7,304				—
Total	$	58,832				40,346				18,486				—
Liabilities:
Interest rate derivatives	$	(459	)			—				(459	)			—

	Fair Value Measurements as of December 31, 2025
					Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
(in thousands)	Balance				(Level 1)				(Level 2)				(Level 3)
Assets:
Securities	$	39,887				39,887				—				—
Available-for-sale debt securities		11,486				—				11,486				—
Interest rate derivatives		6,778				—				6,778				—
Total	$	58,151				39,887				18,264				—
Liabilities:
Interest rate derivatives	$	(1,606	)			—				(1,606	)			—

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.

Notes to Unaudited Consolidated Financial Statements

June 30, 2026

9.	Equity and Capital

Preferred Stock of the Parent Company

Terms and conditions of the preferred stock outstanding are summarized as follows:

	Preferred Stock Outstanding as of June 30, 2026 and December 31, 2025
	Date of Issuance (1)		Shares Issued and Outstanding				Liquidation Preference				Distribution Rate		Callable By Company
Series A	8/18/2023			4,600,000			$	115,000,000			6.250%		On demand
Series B	8/18/2023			4,400,000				110,000,000			5.875%		On demand
				9,000,000			$	225,000,000

(1)

Issued in connection with the August 18, 2023 merger at terms consistent with their original issuance.

Except under certain limited conditions, each series of Preferred Stock is non-voting, has no stated maturity and is redeemable for cash at $25.00 per share at the Company's option. The holders of the Preferred Stock have general preference rights over common stockholders with respect to liquidation and quarterly distributions. In the event of a cumulative arrearage equal to six quarterly dividends, holders of the Preferred Stock (voting as a single class without regard to series) will have the right to elect two additional members to serve on the Company's Board of Directors until the arrearage has been cured. Upon the occurrence of a Change of Control, as defined in the Company's Articles of Incorporation, the holders of the Preferred Stock will have the right to convert all or part of the shares of the Preferred Stock held by such holders on the applicable conversion date into a number of shares of common stock.

Common Stock of the Parent Company

At the Market ("ATM") Program

Under the Parent Company's ATM Program, as reauthorized by the Board in February 2026, the Parent Company may sell up to $500 million of common stock at prices determined by the market at the time of sale. The timing of sales, if any, will be dependent on market conditions and other factors.

As of June 30, 2026, $500 million of common stock remained available for issuance under this ATM Program.

Stock Repurchase Program

On February 4, 2026, the Board authorized a common stock repurchase program under which the Company may purchase up to $500 million of its outstanding common stock (the "Repurchase Program"). Under the Repurchase Program, the Company may repurchase shares through open market transactions in accordance with applicable federal securities laws, including Rule 10b-18 of the Exchange Act. The Repurchase Program expires on February 28, 2029, unless modified, extended or earlier terminated by the Board in its discretion. Any common stock repurchased, if not retired, will be treated as treasury stock.

During the six months ended June 30, 2026, the Company made no repurchases under the Repurchase Program and $500 million remained available under the Repurchase Program.

Preferred Units of the Operating Partnership

The number of Series A Preferred Units and Series B Preferred Units, respectively, issued by the Operating Partnership is equal to the number of Series A Preferred Stock and Series B Preferred Stock, respectively, issued by the Parent Company.

Common Units of the Operating Partnership

Common Units are issued, redeemed, or retired on a one-for-one basis with shares of the Parent Company’s common stock, as described above.

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.

Notes to Unaudited Consolidated Financial Statements

June 30, 2026

Dividends Declared

The following table provides a summary of dividends declared per share for the periods presented:

		Three months ended June 30,								Six months ended June 30,
		2026				2025				2026				2025
Common Stock		$	0.755000			$	0.705000			$	1.510000			$	1.410000
Series A Preferred Stock		$	0.390625			$	0.390625			$	0.781250			$	0.781250
Series B Preferred Stock		$	0.367200			$	0.367200			$	0.734400			$	0.734400

10.	Stock-Based Compensation

The Company granted 335,836 shares of restricted stock with a weighted-average grant-date fair value of $80.89 per share and 321,704 shares of restricted stock with a weighted-average grant-date fair value of $77.32 per share during the six months ended June 30, 2026 and June 30, 2025, respectively. The Company records stock-based compensation expense within General and administrative expenses in the accompanying Consolidated Statements of Operations, and recognizes forfeitures as they occur.

		Three months ended June 30,								Six months ended June 30,
(in thousands)		2026				2025				2026				2025
Restricted stock		$	6,061				5,455			$	11,929				10,898
Directors' fees paid in common stock and other employee stock grants			143				115				257				220
Capitalized stock-based compensation			(863	)			(671	)			(1,566	)			(1,254	)
Stock-based compensation, net of capitalization		$	5,341				4,899			$	10,620				9,864

11.	Earnings per Share and Unit

Parent Company Earnings per Share

The following summarizes the calculation of basic and diluted earnings per share:

		Three months ended June 30,								Six months ended June 30,
(in thousands, except per share data)		2026				2025				2026				2025
Numerator:
Net income attributable to common shareholders - basic		$	112,351				102,608			$	237,487				208,782
Net income attributable to common shareholders - diluted		$	112,351				102,608			$	237,487				208,782
Denominator:
Weighted average common shares outstanding for basic EPS			183,108				181,543				183,053				181,497
Weighted average common shares outstanding for diluted EPS (1)			183,351				181,955				183,309				181,877
Net income per common share – basic		$	0.61				0.57			$	1.30				1.15
Net income per common share – diluted		$	0.61				0.56			$	1.30				1.15

(1)

Includes the dilutive impact of unvested restricted stock.

The effect of the assumed exchange of the EOP units and certain other exchangeable units had an anti-dilutive effect upon the calculation of net income attributable to the common shareholders per share. Accordingly, the impact of such assumed exchanges has not been included in the determination of diluted net income per share calculations. Weighted average EOP units outstanding were 3,838,188 and 1,067,844 for the three months ended June 30, 2026 and 2025, respectively, and 3,838,188 and 1,088,815 for the six months ended June 30, 2026 and 2025, respectively.

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.

Notes to Unaudited Consolidated Financial Statements

June 30, 2026

Operating Partnership Earnings per Unit

The following summarizes the calculation of basic and diluted earnings per unit ("EPU"):

		Three months ended June 30,								Six months ended June 30,
(in thousands, except per unit data)		2026				2025				2026				2025
Numerator:
Net income attributable to common unit holders - basic		$	114,711				103,194			$	242,464				210,010
Net income attributable to common unit holders - diluted		$	114,711				103,194			$	242,464				210,010
Denominator:
Weighted average common units outstanding for basic EPU			186,946				182,611				186,891				182,586
Weighted average common units outstanding for diluted EPU (1)			187,190				183,023				187,147				182,966
Net income per common unit – basic		$	0.61				0.57			$	1.30				1.15
Net income per common unit – diluted		$	0.61				0.56			$	1.30				1.15

(1)

Includes the dilutive impact of unvested restricted stock.

The effect of the assumed exchange of certain other exchangeable units had an anti-dilutive effect upon the calculation of net income attributable to the common unit holders per unit. Accordingly, the impact of such assumed exchanges has not been included in the determination of diluted net income per unit calculations.

12.	Segment Information

The Company's portfolio is located throughout the United States. Management does not distinguish or group its operations on a geographical basis for purposes of allocating resources or capital. The Company’s chief operating decision maker ("CODM") evaluates operating and financial performance for each property on an individual property level; therefore, the Company defines an operating segment as its individual properties. The individual properties have been aggregated into one reportable segment based upon their similarities with regard to both the nature and economics of the centers, tenants and operational processes, as well as long-term average financial performance.

The following tables provide information about the Company's reportable segment's revenues, significant expenses, net operating income ("NOI") and the reconciliation of NOI to the Company’s consolidated Net income:

	Three months ended June 30,								Six months ended June 30,
(in thousands)	2026				2025				2026				2025
Lease income	$	438,463				405,915			$	875,558				814,003
Other property income		4,000				4,613				7,718				7,992
Less:
Straight-line rent on lease income		(5,816	)			(6,332	)			(10,524	)			(12,783	)
Above/below market rent amortization, net		(5,594	)			(5,919	)			(11,389	)			(12,924	)
Total real estate revenues		431,053				398,277				861,363				796,288
Operating expenses (1)		(76,316	)			(65,664	)			(154,464	)			(139,128	)
Real estate taxes		(54,631	)			(51,680	)			(110,399	)			(102,689	)
NOI	$	300,106				280,933			$	596,500				554,471

(1)

Operating expenses include Operating and maintenance, Ground rent and Termination expense

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.

Notes to Unaudited Consolidated Financial Statements

June 30, 2026

	Three months ended June 30,								Six months ended June 30,
(in thousands)	2026				2025				2026				2025
Reconciliation of NOI to Net income:
NOI	$	300,106				280,933			$	596,500				554,471
Consolidated:
Straight-line rent on lease income		5,469				5,787				10,025				11,394
Above/below market rent amortization, net		5,449				5,731				11,037				12,481
Management, transaction, and other fees		7,192				7,244				14,125				14,056
Straight-line rent on ground rent		(499	)			(336	)			(880	)			(673	)
Above/below market ground rent amortization		(536	)			(532	)			(1,072	)			(1,067	)
Depreciation and amortization		(108,803	)			(99,535	)			(215,225	)			(196,309	)
General and administrative		(27,567	)			(25,480	)			(53,173	)			(47,080	)
Other operating expenses		(2,037	)			(1,944	)			(3,038	)			(3,632	)
Other expense, net		(50,593	)			(51,040	)			(94,889	)			(99,713	)
Add: Share of noncontrolling interests excluded from NOI		2,298				2,200				4,467				4,404
Less: Equity in income of investments in real estate excluded from NOI		(10,740	)			(14,679	)			(15,340	)			(28,130	)
Net income	$	119,739				108,349			$	252,537				220,202

13.	Commitments and Contingencies

Litigation

The Company is a party to litigation and other disputes that arise in the ordinary course of business. While the outcome of any particular lawsuit or dispute cannot be predicted with certainty, in the opinion of management, the Company's currently pending litigation and disputes are not expected to have a material adverse effect on the Company's consolidated financial position, results of operations, or liquidity. Legal fees are expensed as incurred.

Environmental

The Company is subject to numerous environmental laws and regulations. With respect to applicability to the Company, these pertain primarily to chemicals historically used by certain current and former dry cleaning tenants, the existence of asbestos in older shopping centers, underground petroleum storage tanks and other historic land uses. The Company believes that the ultimate disposition of currently known environmental matters will not have a material effect on its financial position, liquidity, or operations. The Company can give no assurance that existing environmental studies with respect to its shopping centers have revealed all potential environmental contamination; that its estimate of liabilities will not change as more information becomes available; that any previous owner, occupant or tenant did not create any material environmental condition not known to the Company; that the current environmental condition of the shopping centers will not be affected by tenants and occupants, by the condition of nearby properties, or by unrelated third parties; and that changes in applicable environmental laws and regulations or their interpretation will not result in additional environmental liability to the Company.

The Company had accrued liabilities of $16.4 million and $19.2 million for environmental assessment and remediation, which are included in Accounts payable, and other liabilities on the Company’s Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025, respectively.

Letters of Credit

The Company has the right to issue letters of credit under the Line up to an aggregate amount not to exceed $50.0 million, which reduce the credit availability under the Line. These letters of credit are primarily issued as collateral on behalf of its captive insurance subsidiary and to facilitate the construction of development projects. The Company had $12.5 million and $12.9 million in letters of credit outstanding as of June 30, 2026 and December 31, 2025, respectively.