Investor Presentation

Timonium Square Timonium, MD

The statements in this presentation, including targets and assumptions, state the Company’s and management’s hopes, intentions, beliefs, expectations or projections of the future and are forward-looking statements. It is important to note that the Company’s actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from current expectations include the key assumptions contained with this presentation, general economic conditions, local real estate conditions, increases in interest rates, foreign currency exchange rates, increases in operating costs and real estate taxes. Additional information concerning factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the Company’s SEC filings, including but not limited to the Company’s report on Form 10-K. Copies of each filing may be obtained from the Company or the SEC.

Safe Harbor

Mesa Riverview Mesa, AZ

North America’s Largest Owner & Operator of

Neighborhood & Community Shopping Centers.

Redhawk Towne Center Temecula, CA

History Started in 1958 | IPO that initiated modern REIT era; NYSE-listed for ~20 years | S&P 500 Index (2006)

Dividend $0.76 annually, ~3.9% yield (03/31/12)

Shopping Center Properties 930 properties; 136.2M / 88.6M sq. ft. (gross/pro-rata)

Geographic Footprint 44 states, Puerto Rico, Canada, Mexico and South America

Occupancy (pro-rata) 5-year average: 93.7% | High: 96.3% (12/31/07) / Low: 92.3% (6/30/09)

Enterprise Value $13.2B (03/31/12)

Credit Rating Investment Grade BBB+ | BBB+ | Baa1 (S&P | Fitch | Moody’s)

4

Capitalize on 50 Year History, Size/Scale and Strength of Retailer Relationships

5

Continue to strengthen balance sheet

Lease-up of Latin America portfolio

Sell non-retail assets

Value creation through redevelopment

Opportunistic Retail Investments

Active Asset Recycling Program

Vision: The Premier Owner and Operator of Shopping Centers

• Virtually no ground up development supply being absorbed

• Return of growth-focus poised to increase store count in power centers vs. regional malls in 20121

6

1 ISI Group, “Real Estate Research: More Confident in Power Center Demand Following ICR XChange 2012” January 2012. 2 RBC Capital Markets, “Retail REITs: May National Retailer Demand Monthly (NRDM)” May 2012.

3CoStar Group. “The State of Commercial Real Estate Industry: Year-End 2011 Retail Review & Outlook” 2012.

• Strong balance sheets

• Right-sizing of store size & relocating low-performing stores

• 71,539 store openings scheduled over the next two years2

Retail Real Estate

Decrease in Retail Development3 Supply Growth by Center Type3

The Case for Retail Real Estate: Today’s Market

Healthier Retailers

The Case for Retail Real Estate: Historical Perspective

7

Source: NCREIF

Neighborhood shopping centers occupancy rate was at five year low in 1Q11 at 89.8% and a high in 1Q07 at 94.0%

Kimco U.S. Historical Occupancy

Industry Benchmark Occupancy

84.0%

86.0%

88.0%

90.0%

92.0%

94.0%

96.0%

98.0%

1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12

Lowest Occupancy

91.8%

Highest Occupancy

96.2% Average

Occupancy 93.5%

84.0%

86.0%

88.0%

90.0%

92.0%

94.0%

96.0%

98.0%

1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12

Lowest Occupancy

89.8%

Highest Occupancy

94.0% Average

Occupancy 91.5%

8

• 65 centers • 12.2M / 6.7M sq. ft.

(gross / pro-rata) • $15.58 per sq. ft. • 96.4% occupancy • Top tenants:

TJ Maxx Canadian Tire Target

Note: USD$ per sq. ft. and occupancy as of 03/31/12 are shown at pro-rata interest. Centers and square footage include properties not in occupancy.

• 795 centers • 111.4M / 73.0M sq. ft.

(gross / pro-rata) • $11.96 per sq. ft. • 92.8% occupancy • Top tenants:

Home Depot TJ Maxx Wal-Mart

Geographic Footprint of Quality Assets

Canada United States Mexico

• 55 centers • 11.8M / 8.2M sq. ft.

(gross / pro-rata) • $10.44 per sq. ft. • 89.8% occupancy • Top tenants:

Wal-Mart Cinepolis HEB

Faubourg Boisbriand Boisbriand, Quebec, Canada

Long Gate S.C. Ellicott City, MD

Magnocentro 26 Huixquilucan, EM

9

Why Kimco?

• Geographically diversified • Redevelopment program • Asset recycling

Resilient Portfolio

Solid Tenant Mix

• Credit quality • Low single tenant exposure

Necessity vs. Specialty

• Well-balanced between grocery vs. big box

Stability Growth

More than 15,000 leases with 8,500 tenants

10

Portfolio has Remained Resilient Over the Great Recession

Same-Property NOI

3.0%

1.2%

-2.7%

1.5% 1.1%

2.7%

1.1%

-3.2%

0.7% 0.4%

-5.0%

-4.0%

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

2007 2008 2009 2010 2011

Kimco Realty U.S. Strip Center REIT Average

Occupancy

96.0% 95.2%

92.0% 92.4% 92.7%

95.2% 94.3%

92.1% 92.2% 92.3%

80.0%

82.0%

84.0%

86.0%

88.0%

90.0%

92.0%

94.0%

96.0%

98.0%

2007 2008 2009 2010 2011

Kimco Realty U.S. Strip Center REIT Average

Source: GreenStreet Advisors Report

* Each

Top Tenant Overview by Annualized Base Rent

11

• Top 30 MSAs & Puerto Rico account for more than 70% of

U.S. ABR.

• Top 5 MSAs include:

NY-Northern NJ-Long Island

L.A.-Long Beach-Santa Ana

Chicago-Joilet-Naperville

Dallas-Fort Worth-Arlington

Houston-Sugar Land- Baytown

• International portfolio accounts for approx. 17% of ABR.

Stability Driven by Diversified Tenant Exposure Across Many Regions

Metropolitan Statistical Area (MSA) Exposure by Annualized Base Rent (ABR)

Only 14 tenants with exposure > 1.0%

MSA 1-5 19.5%

MSA 6-10 12.5%

MSA 11-30 & Puerto Rico 26.8%

All Other 24.4%

Latin America 6.5% Canada 10.3%

3.1% 3.0% 2.5%

2.1% 1.6%* 1.5% 1.3%* 1.2%* 1.1%

12

U.S. Shopping Center Portfolio

Westlake Shopping Center Daly City, CA

13

U.S. Shopping Center Portfolio Profile by ABR

42% Junior Anchor (10K – 60K sq. ft.)

13% National Small Shops (< 5K sq. ft.)

Major Anchor 20% (Over 60K sq. ft.)

Local Small Shops 14% (<5K sq. ft.)

62% of ABR Generated from Major and Junior Anchors – High Quality, Good Credit Tenants

Tenant Type % by Leased GLA Major Anchor 34%

Junior Anchor 45%

Mid Shops 8%

National Small Shops 7%

Local Small Shops 7%

Mid Tier Stores 11% (5K – 10K sq. ft.)

• Franchisors pre-approve Kimco locations • Kimco then markets to prospective franchisees • Utilize website (www.fasttrackfranchise.com), signage,

blog posting, & franchise industry events as marketing tools

• 21 chains are currently signed up

14

Small Shop Space Lease-Up Initiatives

• Business incubator program for qualified startup entrepreneurs initiated in April 2012 in California

• Participant benefits:

One year of free rent, Affordable property charges (NNN) to minimize

initial overhead, Access to personal Kimco retail business

counselors A flexible four-year lease option after the first year Access to shop space in established retail centers

• Prospecting candidates through colleges, Small Business Administration (SBA) programs, and local chambers of commerce

• 300 units less than 2,500 square-feet are available

Fast Track Franchise Program KEYS Program

Since first quarter of 2011, small shop occupancy has increased by 120 basis points

U.S. Shopping Center Categorization By ABR

Other 5.4%

Neighborhood & Community Center

(with food component) 4.2%

Neighborhood & Community Center (grocery anchored)

39.1%

Power Center (with food component)

12.5%

Power Center 5.4%

Grocery Anchored: 40% Centers with food component: 17%

Total: 57%

15

Neighborhood & Community Center

33.4%

Food Component Includes:

U.S. Strategic Assets – Demographic & Financial Profile

Demographic Profile Within a 3-Mile Radius

Note: Demographics do not include Puerto Rico sites.

Timonium Square Timonium, MD

16

Mesa Riverview Mesa, AZ

Number of Sites Occupancy

ABR PSF

Total Population

Median House Hold Income

(MHHI)

Market Data at MSA Level

MHHI

KIM Above MSA

MHHI Strategic 673 93.9% $12.24 110,053 $69,466 $60,700 14.4% Non-Strategic 120 83.8% $9.43 74,835 $57,542 $57,340 0.4% Total Assets 793 92.8% $11.96 107,205 $68,502 $60,428 13.4%

Strategic Assets account for 92% of Annual Base Rent (ABR)

U.S. Growth Profile: Quality Over Quantity

Invest $$$$

• Located in secondary/tertiary markets • Limited growth potential • Stubborn Vacancy • Sold 53 shopping centers for approx. $290M

since Sept. 2010 Kimco Investor Day

Disposition of Non Strategic Assets

17

Active Asset Recycling Program

• Grocery or national big box anchored centers

• Emphasis on strong tenancy and rollover

• Largest MSAs: Higher CAGR, Barriers-to-entry, Value creation through redevelopment, strong demographics & growth estimates

• Acquired 37 shopping centers for approx. $768M since Sept. 2010 Kimco Investor Day

Acquisition Focus Targets

Garden State Pavilions, NJ Acquired in June 2011

Disposed Sites

Acquired Sites

Number of properties 53 37 GLA (000’s) 3,499 3,942 Occupancy % 82.3% 94.3% ABR per square foot $9.14 $12.44 Estimated Population 77,313 82,296 Household Density 1,066 1,125 Median Household Income 55,143 66,992 Average Household Income 66,475 81,214

Improving Tenant Profile Through Active Recycling

18

Top Ten Tenants Acquisitions

(Sept. 2010- Current)

Tenant Name

# Occupied

GLA (000’s) ABR

(000’s) Credit Ratings (S&P/Moody’s)

Publix Supermarkets 2 116 $1,287 NR

Michaels 6 112 1,267 B / B2

Ross Stores 5 125 1,146 BBB+ / NR

Shoprite 3 84 1,143 NR

Academy Sports 2 133 1,093 NR

Royal Ahold 2 73 1,081 BBB / Baa3

Kohl’s 3 201 945 BBB+ / Baa1

Kroger Company 3 131 880 BBB / Baa2

TJX Companies 4 92 812 A / A3

Wal-Mart 1 111 750 AA / Aa2

Top Ten Tenants 31 1,178 $10,404

Tenant Name

# Occupied

GLA (000’s) ABR

(000’s) Credit Ratings (S&P/Moody’s)

Jo-Ann Stores 2 89 $779 B / B2

Hannaford Bros. 1 39 658 NR

Hobby Lobby 2 88 597 NR

General Motors 2 31 594 BB+ / Ba1

Global Fitness 2 43 554 NR

TJX Companies 2 64 507 A / A3

Super United Furn. 1 100 494 NR

Sears Holdings 1 80 459 CCC+ / B3

Raley’s 1 60 458 NR

Lamb’s Thriftway 1 38 437 NR

Top Ten Tenants 15 632 $5,537

Top Ten Tenants Dispositions

(Sept. 2010 – Current)

* Occupied GLA & ABR are shown at pro-rata interest.

U.S. Recent Acquisition Profile

GLA: 257, 378 square feet

Metropolitan Statistical Area (MSA): Philadelphia-Camden-Wilmington

Anchor Tenants: Petco, Ross Dress for Less, ShopRite, Staples

Demographics: Total Population 145,993 Avg. HH Income $79,016 Med. HH Income $66,576

Garden State Pavilions in Cherry Hill, New Jersey

19

Centre Court in Pikesville, Maryland

GLA: 105,530 square feet Metropolitan Statistical Area (MSA): Baltimore- Towson

Anchor Tenant: Giant Food

Demographics: Total Population 106,065 Avg. HH Income $82,359 Med. HH Income $64,820

U.S. Recent Acquisition Profile

GLA: 62,285 square feet

Metropolitan Statistical Area (MSA): Phoenix-Mesa-Scottsdale

Anchor Tenant: Whole Foods Market

Demographics: Total Population 135,858 Avg. HH Income $68,887 Med. HH Income $56,545

College Park in Tempe, Arizona

20

Independence Plaza in Selden, New York

GLA: 245,457 square feet Metropolitan Statistical Area (MSA): New York-Northern New Jersey- Long Island

Anchor Tenant: Home Depot, King Kullen

Demographics: Total Population 101,807 Avg. HH Income $102,469 Med. HH Income $88,295

Increasing Portfolio Value Through Redevelopment

21

Property Name City State Opportunity Investment Incremental

($M) NOI ($M) Projects estimated completion in 2012

Springfield S.C. Springfield PA Demolished Value City & built new Giant Food; in process of adding outparcel $12.4 $1.3

Metro Crossing Council Bluffs IA Construction of TJX & Ulta; Multi-tenant building w/ Panera Bread 10.5 1.1

West Farm S.C Farmington CT Redevelopment of vacant Linens box for Nordstrom Rack 4.2 0.4

Oakwood Plaza North Hollywood FL Demolish Barnes & Noble and replace with Sports Authority; Expand BJ’s Wholesale 5.8 0.6

Center at Baybrook Webster TX Ground up Buybuy Baby project 4.2 0.3

Wexford Plaza Pittsburgh PA Convert six small shop spaces into Whole Foods 6.6 0.8

Cypress Towne Center Houston TX Proposed anchor project and small shop space 3.5 0.5

Mesa Riverview Mesa AZ Redevelopment / rebranding of existing movie theater district 4.8 0.8

Subtotal for 2012 $52.0 $5.8

Projects estimated completion in 2013 and thereafter

Elsmere Square Elsmere DE Demolish existing Value City and build new BJs Wholesale & Fuel Island 4.2 0.6

Richmond S.C. Staten Island NY Redevelop existing Kmart for new Target 3.9 2.5

Forest Avenue S.C. Staten Island NY Demolish former National Wholesale Liquidators & construct a new Stop & Shop. 7.6 0.8

Miller Road Miami FL Demolish & rebuild of existing Publix & in-line Walgreens 2.6 0.3

Pompano Beach Pompano Beach FL Demolish anchor space to build new specialty grocer & national sporting goods retailer 11.7 1.1

Wilde Lake Columbia MD Residential & retail redevelopment including vacant anchor 16.9 1.4

Subtotal for 2013 & thereafter $46.9 $6.7

Grand Total $98.9 $12.5

Owings Mills Mall

Camden Square

Promenade at Christiana

Tri-City Plaza

Palm Beach Gardens

Renaissance Centre

North Brunswick Plaza

Airport Plaza

Manhasset Center

Owings Mill

Dover

New Castle

Largo

West Palm Beach

Orlando

North Brunswick

Farmingdale

Manhasset

MD

DE

DE

FL

FL

FL

NJ

NY

NY

22

Increasing Portfolio Value Through Redevelopment

Future Redevelopment Projects

Center Name City State

Estimated spending of approximately $200M

Additional outlot opportunities: $11.2M investment resulting in $4.2M incremental NOI

Westlake S.C. Daly City, CA

23

31.7

14.5 11.4 11.1

8.5 8.1 7.4 3.9 2.2 1.1

32.6

10.7 13.3

6.2

16.2

10.8

5.9 1.7 2.0 0.5

0

5

10

15

20

25

30

35

40

45ABR

GLAApproximately 92% of portfolio with limited

Internet exposure

Category Exposure by Gross ABR % & Gross GLA % %

Hardlines Service Related

Supermarkets QSR & Casual Dining

Major Discounters

Offprice/ Dollar Stores

Apparel & Footwear

Financial Services

Pharmacies & Drug Stores

Telecom

Hardline Subcategories Exposure by Gross ABR % & Gross GLA % %

U.S. Category Exposure

23

Hobby, Toys

& Game Stores

2.7 2.6

1.8 1.3

2.4 2.8 2.4

1.1

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0 ABR

GLA

Home Furnishings

Home Improvement

Office Supplies

Computers & Electronic Appliances

Books & Video Stores

Sporting Goods Stores

Pet & Pet Supply

Stores

Auto/Auto Parts

Gift/Novelty/ Souvenir Stores

Cosmetics/ Fragrances

Sewing/ Needlework/ Piece Goods

Optical Goods Stores

Flower/ Cards

Jewelry Stores

Other

Limited internet exposure

24

• Own Quality Real Estate: continue to build portfolio that includes centers that have sustainable retail use or has

potential to be reconstituted into more valuable uses.

Dispose marginal assets

Quality includes A properties in A markets, and B+/B markets that maintain competitive advantages in local

trade area

Acquire centers with no at-risk retailers or concepts

• Quality Retailers: focus on properties with tenants best suited to withstand or benefit from e-commerce impact

Bias for dominant players who will be the winners in capitalizing on omni-channel strategies

Essential use, food, personal service, unique/boutique tenancies

• Use Social Media: deliver tools and technology to benefit tenants

Use facebook, twitter, and other media tools to enhance shopping experience

Align programs with national retailers

Support small tenants

Kimco social media sites: blog.kimcorealty.com www.facebook.com/KimcoRealty www.twitter.com/kimcorealty

Steps to Address Internet Exposure

25 25

Corporate RESPONSIBILITY Initiative

Focused on Reducing Our Environmental Footprint

R E T H I N K • R E N E W • R E S T O R E

Enhance Kimco’s environmental & economic performance by: • Reducing operating expenses

• Proactively addressing regulatory & other risks

• Improving tenant satisfaction & loyalty

• Developing additional sources of income & enhancing

the value of our portfolio

• Enhancing our reputation as an industry leader in sustainability

• Utility Management • Building Controls (EMS) • Lighting Efficiency • Smart Irrigation • Integrated Waste Management • Solar Energy Production

Program Objectives

Key Initiatives

Westlake Shopping Center Daly City, CA

North Brunswick Plaza North Brunswick, NJ

Faubourg Boisbriand Boisbriand, Quebec, Canada

International Portfolio Overview

• 135 shopping centers totaling 24.8M /15.5M sq. ft. (gross/pro-rata) Canada, Mexico, Chile, Brazil and Peru

• High quality portfolio of assets resulting in solid tenant line-up, good mix

• Canada remains key element of international portfolio

• Mexico and Latin America Long-term investment

opportunity

U.S.-based retailers, such as Wal-Mart and Home Depot, extending their reach

Leveraging established local relationships to add value

…First Mover Status Has Positioned Kimco as a Strong International Player

Key Differentiator: International Exposure

27

28

Canada Market Overview

New entrants continuing to explore Canada strategy include:

Retailer Trends

2012 Economic Outlook

GDP Projected growth of 2.0% in 2012

Inflation Forecast inflation rate of 2.2%

Interest Rates Bank of Canada overnight lending rate forecast to remain at 1.0%

Unemployment Forecast average unemployment rate of 7.2%

Exchange Rate Forecast to range between $0.99 CAD/USD and $0.98 CAD/USD for 2012

Target has acquired 220 Zeller leases . 83 Target stores are confirmed to open in March/early April 2013, additional stores will be announced in next several months. Wal-Mart will take 39 of the additional locations.

*Kimco has 15 Zellers with 9 being converted to Target and one Super Wal-Mart

4.9% 4.4%

3.1% 2.7% 2.6% 2.6% 2.4% 2.4% 2.3% 2.1%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

Canada Portfolio Overview

Canada Remains Key Element of International Portfolio

Portfolio Snapshot

Approximately 30% of Canadian Annual Base Rent is Diversified Across Top 10 Tenants High Quality Domestic and International Retailer Relationships

Tenant Exposure

29

• Entered Canadian market via JV partnership with RioCan in 2001

• Stable portfolio of 65 shopping centers 12.2M / 6.7M sq. ft. (gross/pro-rata) ABR per sq. ft. of $15.58 (pro-rata)

• Other portfolio metrics 96.4% Occupancy (pro-rata) 4.6% SS NOI for 1Q12 Total leasing spread trailing 12 months 22.0%; new leases 10.9% and renewals/ options 24.1%

Retailer Trends

2012 Economic Outlook

• Looking to become an active brand in Mexico:

Mexico Market Overview

• Existing retailers look to strengthen their position:

GDP Forecast to grow at 3.4% in 2012; moderate growth but exceeding other advanced economies

Inflation Forecast to be 4.0% in 2012; continues to be one of the most stable rates in Latin America

Interest Rates Benchmark lending rate forecast to remain at 4.5%

Unemployment Forecast to average 5% in 2012; 600K new jobs predicted

Exchange Rate Forecast to average $13.00 for 2012

• Retailers actively expanding around the country:

30

Mexico Investment Drivers

31

Favorable Demographics • 12th largest global economy; projected to be 5th largest by 2050 • 106M people expected to grow 1.2% annually; median age of 26 • Expanding middle class

Strong Demand • Rapidly growing consumer market driven by demographics, stable economy, access to consumer credit • Major retailers continue aggressive expansion plans Wal-Mart: 300 units in 2011

Limited Supply • Mexico under retailed ~3.9 sq. ft. per capita vs. U.S. 23.0 sq. ft. • ~800 shopping centers; heavily concentrated in large urban areas (vs. 110k in U.S.)

Growing Consumption • Consumer credit, healthy banking sector will continue to grow purchasing power • Consumer spending per capita expected to increase by 48% by 2014 • 7th largest American Express user in the world

Opportunistic Returns • Attractive returns compared to U.S; Targeting 12–14% stabilized NOI yield on cost in Mexico • All leases include annual cost of living adjustments • Percentage rent clauses in many leases provide additional upside

Tijuana

Monterrey

Guadalajara

Mexico City

Cancun

Kimco Shopping Centers

• 55 Shopping Centers Totaling 11.8M sq. ft.

• Portfolio Occupancy: 85.0% (pro-rata) Operating & Stabilized: 89.8% (pro-rata) Pending Stabilization: 74.0% (pro-rata) Completed Pending Lease-Up: 77.0% (pro-rata)

• $780M invested to date $680M 55 shopping centers $ 12M Mexico Land Fund $ 88M American Industries

Portfolio Snapshot

• All leases have cost of living increases

• Percentage rent clauses in many leases provide additional upside

• Solid partnerships with 6 leading local developers

• Over 96% of retail GLA is located in centers with grocery anchor

Mexico Portfolio Overview

32

Tenant Exposure

21 leases; 2.3M sq. ft. (7.8% ABR)

14 leases; 0.7M sq. ft.

(4.6%) 12 leases; 0.5M sq. ft.

(2.6%)

8 leases; 0.7M sq. ft.

(4.3%) 6 leases;

0.6M sq. ft. (1.6%)

4 leases; 0.4M sq. ft.

(1.3%)

3 leases; 0.3M sq. ft.

(1.0%)

33

Mexico Growth Profile

Stabilized Yield (2014) 11% - 12%

Centro Sur Guadalajara, JA

Sunset Valley Marketfair Austin, TX

Investment Management Platform

35

Strategy and Overview

• Building on 50 years retail real estate

experience, formed Investment Management business in 1999

• 281 properties totaling 43.0M sq. ft.

• $10.4B in assets under management Kimco ranked #19 among largest

real estate investment managers*

• Provides access to a low cost of capital

• Allows us to remain competitive in

acquiring high-quality retail properties

• Enhances ROE through long-term, recurring asset and property management fees

• Leveraging experience to build

and expand upon mutually advantageous relationships with large, sophisticated & high-quality domestic & foreign partners

• 14 different co-investment programs

• 24 institutional partners

Investment Management Business Leverages Core Competencies to Create Long-Term Shareholder Value

Favorable Trends Emerging

• Institutional investors confidence in all investment classes has improved on a global basis • According to recent a survey of foreign institutional investors, the U.S. real estate market offers a stronger investment opportunity for

investors’ money then it has in the last 10 years (Source: AFIRE; Jan 2011) • Improved investor confidence amid improved results has led to investors seeking partnership with Kimco

Expertise Creativity Strong Relationships

* Source: Pensions & Investments, 2011

36

Sources of Capital

Cons

• Expensive to raise

• Limited practical use priority in capital structure and bondholder protections

• “Less expensive” than common equity but results in shared ownership

Pros

• Flexible source of capital

• Cheap source of capital

• Attractive source of capital Willingness on behalf of investors to pay for management expertise

Common Equity

Debt (Bonds & Mortgages)

Equity From Limited Partners

Income Fee Structures

*ROIC – Return on Invested Capital * Varies based on Promoted IRR

Acquisition 50 – 100 bps

Disposition 25 – 50 bps

Construction Mgmt. 2.5% – 5.0%

Non-Recurring Recurring

Asset (50 – 100 bps)

Finance Sourcing (25 – 50 bps)

Property Mgmt. 4% – 5%

Lease Commission Var. ~ $3/sq. ft.

Competitive Advantage:

In-house

Operating Platform

Potential Upside* 15% - 25%

KIM’s ROIC * Hurdles 9% - 20%

37

Management fee income of $35M in 2011 is expected to increase by approximately 30% in next three years

38

Governance Structure

Partnership Structure

• Partners share in major decisions

Buying, selling and financing

Approving annual business plans/deviations and major leases

• Capital calls are funded by partners on a pro rata basis

Exit Mechanisms

• Buy / sell provision allows either partner to initiate an offer

• Mutual agreement to sell

• Some fund vehicles may have stated life third party or negotiated sale at end of life

Risk Management

• No puts to Kimco

• No Kimco guarantees of debt for joint ventures

• No preferred returns to partners

• Non-recourse, non-cross collateralized property-specific debt

• Debt service coverage of 1.5x or better

Alamosa Plaza Las Vegas, NV

Direct to Retail Investment Opportunities

• Remain focused on working directly with retailers on:

Sale leasebacks Bankruptcy transactions Property dispositions

• Current economic environment coupled with strong

retail relationships should continue to yield profitable investment opportunities

• Decades of retail property experience and financial acumen resulting in solid track record of unlocking value

40

…Has Led to Long History of Value Creation

Key Differentiator: Strong Retailer Relationships

Ability to Act Opportunistically with Retailer-Controlled Real Estate…

Hamden Mart Hamden, CT

Financial Highlights & Strategy

Mgmt. Fee Income 4%

Where We Were 2008 Where We Are 2012

Retail Shopping Center Flows Grow from 83% in 2008 to a Projected 99% in 2014

42

EBITDA Composition

Latin America 4%

Canada 6%

U.S. Centers 68%

Mgmt. Fee Income 5% Non-retail Inv. 17%

Canada 7%

U.S. Centers 79%

Non-retail Inv. 3% Non-retail Inv. 1%

Latin America 9%

Canada 7%

U.S. Centers 79%

Mgmt. Fee Income 4%

83% 97% 99% Latin America 7%

Where We Are Going 2014

43

• Consistently growing recurring retail earnings – 2011 grew by 6.9%

• Over 95% of recurring earnings contribution in 2012 will be from retail

• Recurring retail earnings have a CAGR of over 8% from 2005 to 2011

Recurring Retail Earnings Growth

* Forecasted

Monetize ~$485M of remaining assets by the following:

• Urban portfolio assets being marketed for sale

New York, Philadelphia & Chicago

• Working on sale of InTown Suites

Second round of bidding

Three qualified bidders

Sale anticipated by end of 2012

• Continued sales of non-retail preferred equities

• Evaluating positions in marketable securities for disposal

• Anticipating repayment of Mortgage Financing Receivables

Repayment expected on healthcare facility in 2012

Non-retail Plan

44

Non-Retail Assets

Book Value of Non-retail Assets

As of 03/31/12

$194M

$89M

$74M

$35M

$57M

Monetized over $500M since 2008

*As of 03/31/12

1.05

0.88

0.80

0.51

0.07

0.00

0.20

0.40

0.60

0.80

1.00

1.20

2008 2009 2010 2011 2014E$

Billi

ons

(% o

f gro

ss a

sset

s)

0.49*

Improving Balance Sheet Strength

45

Investment Grade Ratings: • S&P: BBB+ • Moody’s: Baa1 • Fitch: BBB+

Solid Improvement since 2008

57% Market Equity Shares 25% Unsecured Debt

9% Mortgage Debt

7% Preferred Stock

2% Non-controlling Ownership Interests

12/31/08 12/31/11 03/31/12

Gross Assets $10.6B $11.3B $11.5B

Unencumbered Assets (416 properties*) $8.7B $9.2B $9.6B

Debt / Gross Assets 43.2% 36.4% 33.9%

Debt/ Total Market Cap (Book) 0.53 : 1 0.46 : 1 0.43:1

Debt / Equity (Book) 1.12 : 1 0.84 : 1 0.74:1

Net Debt /EBITDA, as adjusted 8.3x 6.2x 5.4x

Debt Service Coverage 3.1x 3.4x 3.3x

Fixed Charge Coverage 2.6x 2.7x 2.6x

FFO Payout Ratio 77.7% 56.7% 61.3%

Consolidated Market Cap: $13.2B*

Strong balance sheet ensures ready access to capital markets

*As of 03/31/12

46

Kimco Share Joint Venture Debt

Note: Percentages represent what is maturing as a % of the total debt stack

Well Staggered Debt Maturity Profile

Consolidated Debt

0

100

200

300

400

500

600

700

800

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Thereafter

Deb

t in

Mill

ions

Secured Unsecured

Weighted Avg. Fixed Rate: 5.80%

Weighted Avg. Floating Rate: 3.53%

8.0%

13.0%

17.1%

11.7%

15.1%

12.0%

8.3%

12.1%

0.6% 2.2%

0

100

200

300

400

500

600

700

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Thereafter

Deb

t in

Mill

ions

Secured Unsecured

Weighted Avg. Fixed Rate: 5.71%

Weighted Avg. Floating Rate: 2.97%

13.2%

10.1% 8.1%

17.9%

13.8%

20.1%

2.2% 1.9% 1.4%

5.1% 6.3%

0.0%

47

• Growing free cash flow (after common dividends) for investment and debt reduction

• Continue to improve balance sheet metrics

Net Debt/Recurring EBITDA targeted at 6.0x by 2012

Stable fixed charge coverage

• Maintain a strong liquidity position – $1.75B available of unsecured line of credit

• Large unencumbered asset pool – Repay existing secured debt of $525M through 2015

• Maintain investment grade ratings • Monetize Non-retail and Non-strategic Assets

Capital and Balance Sheet Strategy

Timonium Square Timonium, MD

2012 Guidance

48

FFO ($ in millions)

FFO $/ Diluted Share

2011 2012F 2011 2012F Recurring:

Retail $ 860 $ 900 — $ 925 $ 2.10 $ 2.19 — $ 2.25 Non-Retail 41 27 — 35 0.10 0.07 — 0.09 Financing Costs (285) (300) — (306) (0.69) (0.73) — ( 0.75) G&A (119) (120) — (124) (0.29) (0.29) — ( 0.30) Other (7) (9) — (13) (0.02) (0.02) — ( 0.03) Total FFO, as Adjusted $ 490 $ 498 — $ 517 $ 1.20 $ 1.22 — $ 1.26

Transactional Income, Net * 33 - — - 0.08 - — - $ 523 $ 498 — $ 517 $ 1.28 $ 1.22 — $ 1.26 Debt Extinguishment - - — - - - — -

FFO Before Impairments $ 523 $ 498 — $ 517 $ 1.28 $ 1.22 — $ 1.26 Impairments (5) - — - (0.01) - — -

FFO (1) $ 518 $ 498 — $ 517 $ 1.27 $ 1.22 — $ 1.26

($ in millions, except per share data) 2011 2012F 2011** 2012F** FFO $ 518 $ 498 — $ 517 $ 1.27 $ 1.22 — $ 1.26

Depreciation & amortization (247) (246) — (254) (0.61) (0.60) — (0.62)

Depreciation & amortization real estate joint ventures (2) (139) (136) — (144) (0.34) (0.33) — (0.35)

Gain on disposition of operating properties 19 12 — 20 0.05 0.03 — 0.05

Gain on disposition of joint venture operating properties (2) 4 16 — 20 0.01 0.04 — 0.05

Remeasurement of derivative instrument (4) - - (0.01) - — -

Impairments of operating properties, net of tax (2) (41) (10) — (10) (0.10) (0.03) — (0.03)

Net income available to common shareholders $ 110 $ 134 — $ 149 $ 0.27 $ 0.33 — $ 0.36

(1) Reflects the potential impact if certain units were converted to common stock at the beginning of the period * Includes normal course of business events such as outparcel sales, acquisition fees and other transactional events

(2) Net of noncontrolling interests ** Reflects diluted per share basis

Certain reclassifications of prior year amounts have been made to conform with the current year presentation

Reconciliation of FFO to Net Income Available to Common Shareholders:

Retail operating partner of choice for

large, blue chip domestic and

international pension funds and

insurance companies

The Kimco Difference

Proven opportunistic investor in

retail real estate owned by U.S.

retailers through structured sales

leaseback and purchase transactions

International platform with

incremental earnings from strong

Canadian market and lease-up of

Mexico development portfolio

49

Largest owner/operator/investment

manager of U.S. shopping centers with

50 years of history, retailer

relationships, leasing expertise and

redevelopment experience

U.S. shopping center portfolio growth

from occupancy increases,

recapture/re-tenanting of below

market leases, and redevelopment

programs

Strong balance sheet and related

credit ratings with excellent liquidity,

access to capital and banking

relationships