New director as of January 1, 2026 — exempt from TSR trigger under the 24-month new-director exemption; brings over 20 years of direct company operating experience as the newly appointed CEO.

BRX's 3-year price return of +61.5% outpaces the ^FNER (FTSE NAREIT All Equity REITs Index) by +46.9 percentage points, well below the 65pp threshold required to trigger a vote against for strong-positive-TSR companies; independent chair with deep real estate investment expertise and CPA credentials.

TSR trigger does not apply given BRX's strong outperformance of ^FNER (+46.9pp gap vs. 65pp threshold); serves on one other public board (within the four-board limit) and brings former CFO financial expertise to the Audit Committee.

TSR trigger does not apply; serves on one other public board; relevant consumer, digital commerce, and marketing expertise well-suited to BRX's open-air retail strategy.

TSR trigger does not apply; no current outside public board seats; grocery/retail operating background directly relevant to BRX's tenant mix and leasing strategy.

TSR trigger does not apply; no current outside public board seats; extensive REIT CEO and shopping center experience highly relevant to BRX's business.

TSR trigger does not apply; serves on three other public boards — within the stated four-board limit disclosed in the proxy's corporate governance guidelines; former CFO with strong financial expertise qualifies her as Audit Committee chair.

TSR trigger does not apply; no current outside public board seats; presiding independent director with real estate private equity background and long institutional knowledge of the company.

TSR trigger does not apply; serves on one other public board; joined in 2023 so has meaningful but limited tenure overlap with the strong-performance period; retail and real estate expertise from Walmart leadership is directly relevant.