Alexander Goldfarb

Craig Mailman

Floris Gerbrand van Dijkum

Haendel St. Juste

Jeffrey Spector

Vince Tibone

Linda Yu Tsai

Caitlin Burrows

Linda Tsai

Michael Mueller

Ronald Kamdem

Samir Khanal

Steve Sakwa

Floris van Dijkum

Greg McGinniss

Ki Bin Kim

Michael Griffin

Omotayo Okusanya

- Macerich reported strong operational performance in Q3 2025, with portfolio sales reaching **$867 per sq ft** (up almost **4%** from Q3 2024) and go-forward portfolio occupancy at **94.3%** (up **150 basis points** from last quarter).  **[0000912242_2233444_3]**  The company achieved significant leasing momentum, signing **1.5 million sq ft** of new and renewal leases in Q3 2025, an **87% increase** from Q3 2024, and grew its SNO pipeline to **$99 million**, on pace to exceed its **$100 million** year-end target.  **[0000912242_2233444_1]** 
- For Q3 2025, adjusted FFO was approximately **$93.35 per share**, and Go-Forward Portfolio Centers NOI, excluding lease termination income, **increased 1.7%** compared to Q3 2024.  **[0000912242_2233444_5]** 
- The company made substantial progress on its balance sheet, paying down almost **$1 billion** of 2026 debt maturities and reducing net debt to EBITDA to **7.76 times**.  **[0000912242_2233444_5]**  Total mall dispositions reached almost **$1.2 billion** to date, with the company on track to complete its **$2 billion** disposition program by the end of 2026.  **[0000912242_2233444_5]** **[0000912242_2233444_15]**  Additionally, Macerich sold **2.8 million shares** for approximately **$50 million** in net proceeds via its ATM program during the quarter.  **[0000912242_2233444_5]**

Macerich Reports Strong Q3 2025 Operational Performance and Balance Sheet Progress

- Macerich reported a **net loss attributable to the Company of $(87.4) million** and **diluted EPS of $(0.34)** for Q3 2025. Funds From Operations (FFO) per share was **$0.33**.  **[912242_0000912242-25-000074_a2025q3-exhibit9911.htm:4]** 
- As of September 30, 2025, portfolio occupancy stood at **93.4%**, and the company achieved a **5.9% increase** in base rent re-leasing spreads for the trailing twelve months.  **[912242_0000912242-25-000074_a2025q3-exhibit9911.htm:1]**  Leases were signed for **1.5 million square feet** in Q3 2025, an **81% increase** compared to Q3 2024.  **[912242_0000912242-25-000074_a2025q3-exhibit9911.htm:1]** 
- During Q3 2025, Macerich completed significant capital transactions, including the sale of Atlas Park for **$72 million**, Lakewood Center for **$332 million**, and Valley Mall for **$22 million**.  **[912242_0000912242-25-000074_a2025q3-exhibit9911.htm:1]**  The company also secured a **$160 million** term loan for Crabtree Mall and raised approximately **$50 million** through its at-the-market (ATM) program.  **[912242_0000912242-25-000074_a2025q3-exhibit9911.htm:1]** 
- Macerich reported approximately **$1 billion of liquidity** as of September 30, 2025, which included **$650 million** of available capacity on its revolving line of credit.  **[912242_0000912242-25-000074_a2025q3-exhibit9911.htm:1]**  The company also announced a quarterly cash dividend of **$0.17 per share** on October 30, 2025.  **[912242_0000912242-25-000074_a2025q3-exhibit9911.htm:1]**

Macerich Reports Q3 2025 Results and Capital Activity

MACERICH (MAC)