EFTA Document EFTA01388602

18 October 2016 REITs US REIT 3016 Earnings Preview Figure 58: DDR 3016 results preview DOR Eger. FFO,sh Oprateg 5F0iSh Opfer. Mega local Isasnq slums 11 00%1 New leasing volume loampenoncornp. 1C0941 Renewal lemeng wham* 1100%h Occupancy Ipm-rata. commenced. 051 Ch WY eh 8lenled rent spread Ipeo-rma. ugned. cash New lease Spread 1pro-rata. maned. cash/ Renewal Spread dpianta. apnea cad SS NOI growth vilf Iwo-Nita cash, Note. consensus estimates are based on Thomson crumpled data as of 10/14/16 • Updated commentary from CEO, Tom August in terms of operations, structure and policies, and strategic MN 2016 MOS Areal 50 31 $0 33 SO 31 SO 33 Met ACS 2.877 2 349 693 430 2.164 1 919 9420% 9440% .20bp 200p .7Ctsp 20bp 79% 91% 123% 277% 71% 70% 32% 31% 3Q16 Actual Dge $0 31 $0 31 Coro SO 31 Dee Ansel 94 10% -3000 •10119 100% commaxed Cora 2018 Ms 30 Guide SI 23-SI 26 SI 23 - Si 26 Pm 30 guider Peel 38 GSM Deo SI 25 $1 25 $1 26 Poet 30 Guide Dee 94 60% sobp 10 0% commenced 2 5% 3 5% vision. Timing and update on CFO search • Update on re/development opportunities with commentary in 2Q of potentially more available in the portfolio Update on additional sales from unwinding JVs and potential opportunities to purchase select assets Cap rate on the recently closed 16 property portfolio largely in Upstate NY for $390M Proforma the Upstate NY sale and 1H dispositions, DDR will have disposed of close to $700M YTD (FY guidance S600.800M). • Update on Sports Authority with 9 locations likely still to deal with post 20 end. • Update on strategy and conditions on the ground in Puerto Rico Swop/ Dear.le arm. convoy Met TheeWn Deutsche Bank Securities Inc. Page 29 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0092249 CONFIDENTIAL SDNY_GM_00238433 EFTA01388602