The following table sets forth the reconciliation of the Company’s earnings and the weighted-average number of shares used in the calculation of basic and diluted earnings per share (amounts presented in thousands, except per share data):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
Computation of Basic and Diluted Earnings Per Share:
Net income available to the Company's common shareholders	$	272,465		$	130,239		$	575,585		$	410,803
Earnings attributable to participating securities		(1,401	)		(640	)		(2,165	)		(1,867	)
Net income available to the Company’s common shareholders for basic earnings per share		271,064			129,599			573,420			408,936
Distributions on convertible units		10			-			2,771			27
Distributions on convertible preferred shares		674			-			-			-
Net income available to the Company’s common shareholders for diluted earnings per share	$	271,748		$	129,599		$	576,191		$	408,963

Weighted average common shares outstanding – basic		666,460			674,639			669,814			675,433
Effect of dilutive securities (1):
Equity awards		878			732			859			762
Assumed conversion of convertible units		88			52			3,316			91
Assumed conversion of convertible preferred shares		1,767			-			-			-
Weighted average common shares outstanding – diluted		669,193			675,423			673,989			676,286

Net income available to the Company's common shareholders:
Basic earnings per share	$	0.41		$	0.19		$	0.86		$	0.61
Diluted earnings per share	$	0.41		$	0.19		$	0.85		$	0.60

(1)

The effect of the assumed conversion of certain convertible units and preferred shares had an anti-dilutive effect upon the calculation of Net income available to the Company’s common shareholders per share. Accordingly, the impact of such conversions has not been included in the determination of diluted earnings per share calculations. Additionally, there were potentially issuable shares related to the Exchangeable Senior Notes that were not dilutive as of September 30, 2026.

The following table sets forth the reconciliation of Kimco OP’s earnings and the weighted-average number of units used in the calculation of basic and diluted earnings per unit (amounts presented in thousands, except per unit data):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
Computation of Basic and Diluted Earnings Per Unit:
Net income available to Kimco OP’s common unitholders	$	273,193		$	130,533		$	577,142		$	411,655
Earnings attributable to participating securities		(1,454	)		(751	)		(2,612	)		(2,089	)
Net income available to Kimco OP’s common unitholders for basic earnings per unit		271,739			129,782			574,530			409,566
Distributions on convertible units		875			-			1,857			27
Distributions on convertible preferred units		674			-			-			-
Net income available to Kimco OP’s common unitholders for diluted earnings per unit	$	273,288		$	129,782		$	576,387		$	409,593

Weighted average common units outstanding – basic		667,542			675,641			670,885			676,421
Effect of dilutive securities (1):
Unit awards		878			732			859			762
Assumed conversion of convertible units		2,218			52			2,245			91
Assumed conversion of convertible preferred units		1,767			-			-			-
Weighted average common units outstanding – diluted		672,405			676,425			673,989			677,274

Net income available to Kimco OP’s common unitholders:
Basic earnings per unit	$	0.41		$	0.19		$	0.86		$	0.61
Diluted earnings per unit	$	0.41		$	0.19		$	0.86		$	0.60

(1)

The effect of the assumed conversion of certain convertible units and preferred units had an anti-dilutive effect upon the calculation of Net income available to Kimco OP’s common unitholders per unit. Accordingly, the impact of such conversions has not been included in the determination of diluted earnings per unit calculations. Additionally, there were potentially issuable units related to the Exchangeable Senior Notes that were not dilutive as of September 30, 2026.

The Company’s unvested restricted share/unit awards contain non-forfeitable rights to distributions or distribution equivalents. The impact of the unvested restricted share/unit awards on earnings per share/unit has been calculated using the two-class method whereby earnings are allocated to the unvested restricted share/unit awards based on dividends declared and the unvested restricted shares/units’ participation rights in undistributed earnings.