FEDERAL REALTY INVESTMENT TRUST

Federal Realty Investment Trust is an equity real estate investment trust (REIT) specializing in the ownership, management, and redevelopment of high-quality retail and mixed-use properties. The company conducts its operations and owns its assets primarily through Federal Realty OP LP, its operating partnership. These properties are located mainly in major coastal markets and select underserved markets. As of December 31, 2025, Federal Realty owned or held a majority interest in 104 predominantly retail real estate projects, which include community and neighborhood shopping centers and mixed-use properties, totaling approximately 28.8 million commercial square feet. At the same date, these projects were 96.1% leased and 94.1% occupied. The company's revenue is primarily generated from lease agreements with tenants. Federal Realty was founded in 1962 as a REIT under the laws of the District of Columbia and re-formed as a REIT in Maryland in 1999. It has paid quarterly dividends to shareholders continuously since its founding in 1962 and has increased its dividends per common share for 58 consecutive years. In January 2022, the company completed an UPREIT reorganization. Federal Realty operates in a manner intended to qualify as a REIT for tax purposes.