1. Appraisal Institute 2013 Forecast January 25, 2013 1

2. North America’s Largest Owner & Operator of Neighborhood & Community Shopping Centers. 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 (3/31/12) Shopping Center Properties946 properties; 138.1M / 89.5M sq. ft. (gross/pro-rata) Geographic Footprint44 states, Puerto Rico, Canada, Mexico and South America Occupancy (pro-rata)5-year average: 93.9% | High: 96.3% (12/31/07) / Low: 92.3% (6/30/09) Enterprise Value$13.2B (3/31/12) Credit RatingInvestment Grade  BBB+ | BBB+ | Baa1 (S&P | Fitch | Moody’s) Who is Kimco?

3. 2012 Politics, the Consumer and you.

4. 4 Trends in 2012 Jr. Anchor Movement Continued New Market Penetration Inter-market Repositioning Continued Downsizing and Contraction Lease Rate Stabilization

5. 2012 retailer expansion Anchor Jr. Anchor Shops

6. 2013 Politics, the Consumer and you.

8. 8 Outlook 2013 Anchor Expansion—New Market Penetration Minimal Continued Store Closing Continued Inter-market Repositioning Improvement of Lease Terms—Higher Rents Limited, Cautious, Careful Development

9. 9 Outlook 2013 Quick Service, Fast Food, Casual Dining Expansion of Quasi-Retail

11. 2012 retailer expansion Anchor Jr. Anchor Shops

12. Retailer Growth Fastest Growing Restaurant Chains: --Subway --Little Caesar’s --Jimmy John’s --Five Guys Burgers and Fries --Chipotle source: QSR Top 50

13. Retailer Growth Top Restaurant Franchises: --McDonald’s --KFC --Subway --Burger King --Pizza Hut source: 2012 Franchise Times

14. Retailer Growth Expanding Boxes 80,000 SF +: --Wal Mart --Burlington Coat Factory --Kohl’s --Costco --Home Depot source: 2012 Franchise Times

15. Retailer Growth Expanding MID Boxes 40,000 SF +: --TJ Maxx --Gold’s Gym --LA Fitness --Dick’s Sporting Goods --Bed Bath Beyond source: 2012 Franchise Times

16. Kimco Entrepreneurs Year Start (KEYS) is a business incubator program for qualified startup entrepreneurs. Approved applicants receive: Resources and services One year of free rent (must pay NNN expenses only) This incentive accelerates the growth of their new businesses in shopping centers owned by Kimco and its joint venture partners. Kimco Entrepreneurs What is KEYS? Year Start Westlake Shopping Center - Daly City, CA

17. “There are three ‘I’s in every cycle. The innovator, that’s the first ‘I’. After the innovator comes the imitator. And after imitator in the cycle comes the idiot.” Warren Buffet