Retail Opportunity Investments Corp.                 TRADED: NASDAQ: ROIC
11250 El Camino Real, Suite 200
San Diego, CA 92130        

FOR IMMEDIATE RELEASE
Tuesday, February 23, 2021

Retail Opportunity Investments Corp. Reports 2020 Results

San Diego, CA, February 23, 2021 – Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today financial and operating results for the year and three months ended December 31, 2020.

YEAR 2020 HIGHLIGHTS
$32.0mm of net income attributable to common stockholders ($0.27 per diluted share)
$132.5 million in Funds From Operations (FFO)(1) ($1.05 per diluted share)
90.6% of total billed base rent during pandemic has been paid to date (2Q‘20 - 4Q‘20)
96.8% portfolio lease rate at year-end (8th consecutive year above 96%)
1.2mm sq. ft. of leases executed (10th consecutive year of leasing ~ 2x original expirations)
12.5% increase in same-space cash rents on new leases (7.9% increase on renewals)
4.6% decrease in same-center cash net operating income (2020 vs. 2019)
96.5% of total debt effectively fixed-rate at year-end (no debt maturing in 2021)
Awarded investment grade rating and stable outlook from Fitch Ratings, Inc.

4TH QUARTER 2020 HIGHLIGHTS
$8.9mm of net income attributable to common stockholders ($0.08 per diluted share)
$34.3 million in FFO(1) ($0.27 per diluted share)
91.8% of total 4Q‘20 billed base rent has been paid to date
9.1% increase in same-space cash rents on new leases (3.3% increase on renewals)
8.8% decrease in same-center cash net operating income (4Q‘20 vs. 4Q‘19)
$55.5 million reduction in credit line balance (4Q‘20 vs. 3Q‘20)
3.4 times interest coverage (equal to 4Q‘19)

2021 YEAR-TO-DATE HIGHLIGHTS
95.4% of total tenants are currently open, based on annualized base rent
87.8% of January billed base rent has been paid to date
$25.8 million property disposition currently under contract
$0.11 per share cash dividend declared
________________________________________
(1) A reconciliation of GAAP net income to Funds From Operations (FFO) is provided at the end of this press release.

Stuart A. Tanz, President and Chief Executive Officer of Retail Opportunity Investments Corp. stated, “During 2020, in the face of extraordinary circumstances, our portfolio of grocery-anchored shopping centers proved to be resilient and we continued to post solid operating results. For the eighth consecutive year we maintained a year-end portfolio lease rate


The following information was filed by Retail Opportunity Investments Partnership, Lp on Tuesday, February 23, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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