SITE Centers Announces Pricing of Common Shares Offering

SITE Centers Corp. (NYSE: SITC) (“SITE Centers” or the “Company”) today announced the pricing of its public offering of 11,500,000 common shares at a price to public of $14.90 per share, for expected gross proceeds of approximately $171.4 million. SITE Centers also granted the underwriters a 30-day option to purchase up to an additional 1,725,000 common shares. The offering is expected to close on October 24, 2019, subject to customary conditions.

Goldman Sachs & Co. LLC and Morgan Stanley are serving as joint book-running managers for the offering.

SITE Centers intends to use the net proceeds of the offering to redeem a portion of the depositary shares representing its outstanding 6.50% Class J Cumulative Redeemable Preferred Shares, without par value (the “Class J Preferred Shares”), which have an aggregate liquidation preference of $200.0 million. Any remaining proceeds will be used for general corporate purposes. This release does not constitute a notice of redemption of the depositary shares representing the Class J Preferred Shares. Pending such use, SITE Centers may invest the net proceeds in short-term securities or repay short-term indebtedness.

Copies of the prospectus and related prospectus supplement associated with this offering, when available, may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: [phone], facsimile: 212-902-9316 or by emailing [e-mail]; or Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

This release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective.

About SITE Centers Corp.

SITE Centers is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol SITC.