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2014 EXECUTIVE
COMPENSATION PEER GROUP 12 The New Peer Group is comprised of shopping center
REITs and select regional malls who are of similar size, with total
enterprise values of no less than half and no more than 3x that of Kite. (1)
Represents values as of 12/31/2014. Source: SNL Financial LC. Comparable
Group Rationale Implied Market Enterprise Total Capitalization Value Assets
Retail Comparable Implied Market Enterprise Total Company ($000s) ($000s)
($mm) REIT Product Assets Capitalization Value Assets Acadia Realty Trust
2,298.9 3,498.2 2,732.6 . . . . . DDR Corp. 6,631.0 12,196.4 9,541.9 . .
Equity One, Inc. 3,176.6 4,689.4 3,262.2 . . . . . Federal Realty Investment
Trust 9,278.5 11,769.3 4,546.9 . . . Glimcher Realty Trust 1,608.2 3,770.3
3,528.0 . . . . Inland Real Estate Corporation 1,096.7 2,107.8 1,573.0 . . .
Pennslyvania Real Estate Investment Trust 1,663.9 3,355.6 2,540.0 . . . .
Ramco-Gershenson Properties Trust 1,495.8 2,506.7 1,948.4 . . . . . Regency
Centers Corporation 6,012.0 8,265.3 4,197.2 . . . . Retail Opportunity
Investments Corp. 1,627.2 2,359.8 1,851.7 . . . . Retail Properties of
America, Inc. 3,948.9 6,310.9 4,803.9 . . . . . Rouse Properties, Inc.
1,069.4 2,689.9 2,270.4 . . . Tanger Factory Outlet Centers, Inc. 3,717.7
5,144.7 2,097.7 . . . . . Weingarten Realty Investors 4,329.4 6,548.1 3,814.1
. . . . . Kite Realty Group Trust 2,446.6 4,204.5 3,874.2 Peer Median (Excluding
KRG) 2,737.8 4,229.8 2,997.4
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