Investor Presentation February 2014 Table of Contents 1. Company - PowerPoint PPT Presentation

Investor Presentation February 2014

Table of Contents 1. Company Overview 2. Portfolio 3. Strategic Investments 4. Financial Position 5. Conclusion Deerfield T owne Center, Mason, OH 2

Company Overview  Description  A Superior Track Record 2013 Activity   Core Business Drivers 3 Troy Marketplace, Troy, MI

Company Overview – Description  Ramco- Gershenson Properties Trust (“RPT”, “Ramco - Gershenson”, or the “Company”) owns and manages interests in approximately $2.0 billion of shopping centers in 13 states.  The Company’s portfolio consists of 80 high-quality, primarily multi- anchored shopping centers in major metropolitan markets. At December 31, 2013, the core portfolio was 96.0% leased.  The Company’s top 10 tenant line-up features best-in-class national 2013 Completed Redevelopment: New Whole Foods and regional retailers including, TJ Maxx/Marshalls, LA Fitness, Bed Market, The Shops on Lane Avenue, Columbus, Ohio Bath & Beyond, The Home Depot, Publix Supermarkets, and Whole Foods Market.  Over 60% of RPT’s total annualized base rent comes from shopping centers with a grocery component. Grocery tenants in RPT’s portfolio generate annual sales averaging $482 per square foot.  The Company maintains a strong balance sheet, with ample liquidity and access to capital to support its growth initiatives highlighted by a net debt to EBITDA ratio of 6.3x. 2013 Completed Reanchoring: New TJ Maxx, The Shoppes of Lakeland, Lakeland, Florida 4

Company Overview – 2013 Financial and Operating Accomplishments  Acquired $567 million of high-quality shopping centers in targeted Midwest markets including Chicago, Milwaukee, St. Louis, and Cincinnati.  Sold $35 million of non-core property as part of the Company’s capital recycling program.  Completed the $18 million Parkway Shops development (100% leased) and commenced the $48 2013 Completed Development: Parkway Shops adjacent million Lakeland Park development (96% pre-leased). to River City Marketplace in Jacksonville, Florida Generated same-center NOI growth of 3.0% and  achieved comparable leasing spreads of 8.2%. Improved core portfolio leased occupancy by 140 basis  points to 96.0% and total portfolio leased occupancy to 94.6%. Completed an inaugural private placement of $110  In addition to Marshalls, Parkway Shops is also anchored million in senior notes rated NAIC-2. by Dick’s Sporting Goods 5

Company Overview – A Superior 5-Year Track Record  The Company has generated an exceptional track record of performance over the last five years, exceeding the peer group compared to any look-back period.  RPT has been rewarded for its strategic business model focused on maximizing operating performance, high-quality acquisitions, and a strong balance sheet.  The Company’s discounted FFO multiple relative to its peer group provides a runway for additional outperformance. Peer Group Peer Group T otal Period T otal Return Ranking Return One Year #2 23.8% 6.6% T wo Years #1 76.6% 35.6% Three Years #3 48.2% 27.9% Four Years #1 105.0% 67.7% Five Years #2 251.1% 64.7% 6 Source: KeyBanc Capital Markets – The Leaderboard, December 31, 2013.

Company Overview – Core Business Drivers The Company has a strategic business plan focused on three interconnected key areas. HIGH-QUALITY • Maintain investment grade ACQUISITIONS AND profile. (RE)DEVELOPMENT • Manage interest rate • Lease space to best-in- exposure. class national retailers. • Grow unencumbered • Respond to changing retail asset base. • Elevate portfolio quality environment by adding • Preserve liquidity and through strategic new, exciting retailers to flexibility to support long- acquisitions. our shopping centers. term growth plans. • Broaden presence in • Generate predictable, target markets. sustainable high same- • Capitalize on releasing, center growth. (re)development, and expansion opportunities . • Complete in-place developments. BALANCE SHEET CORE PORTFOLIO 7

Portfolio  Metropolitan Market Focus  Multi-Anchored Community Center Strategy  Twelve Largest Centers by Rent  Top 10 Tenant Line-Up  Attractive Retail Components  Superior Core Operating Performance  High-Quality Wholly Owned Portfolio  Leading Quality Markers 8 The Shops on Lane Avenue, Upper Arlington, OH

Portfolio – Metropolitan Market Focus RPT’s T op T en Metropolitan Markets Market % ABR Southeast Michigan 28% South Florida 13% St. Louis 7% Jacksonville 7% Milwaukee 6% Cincinnati 5% Tampa/Lakeland 5% Chicago 5% T oledo 4% Atlanta 4%  Over 84% of RPT’s base rent comes from metro markets ranked in the nation’s top 50 MSAs. 9

Portfolio – Multi-Anchor Community Center Strategy The Company’s strategy is to own dominant, multi -anchored community shopping centers located in strong trade areas, which are part of major metropolitan markets. The Company’s centers are leased primarily to creditworthy national and regional retailers who consistently generate strong sales.  DOMINANT: Average center size of 258,000 sf, of which 198,000 sf is company owned.  MULTI-ANCHORED: Average center has over 3 anchors. 1  COMMUNITY CENTERS: 80% of base rent comes from community centers. Power centers account for 12% and grocery-anchored neighborhood centers account for 8%. 2  STRONG TRADE AREAS: Average 3-mile population: 67,000 Average 3-mile household income: $76,000 Average 3-mile population growth: > 2%  CREDITWORTHY: 86% of the portfolio leased to national/regional chains.  STRONG RENT GROWTH: Comparable lease spreads of 8.2% in 2013. 1 Anchor space is greater than or equal to 19,000 sf. 10 2 Community Centers are typically defined as centers with 125,000 – 400,000 square feet, contain two or more anchors, and have a 3 – 6 mile trade area . Power centers are defined as centers where less than 20% of the GLA is shop space.

Portfolio – Twelve Largest Centers by Rent 1. RIVER CITY MARKETPLACE / FL 2. DEERFIELD TOWNE CENTER / OH 3 . TEL-TWELVE / MI ABR: $9.3 million ABR: $8.4 million ABR: $5.8 million TOTAL GLA: 899,588 (Owned: 557,087) TOTAL GLA: 460,675 TOTAL GLA: 523,411 MAJOR TENANTS: Lowes, Wal-Mart, Bed, MAJOR TENANTS: Whole Foods, Bed, Bath & MAJOR TENANTS: Meijer, Lowes, DSW, Bath & Beyond, Michaels, Ross Dress for Less Beyond, buy buy Baby, Dick’s Sporting Goods PetSmart, Michaels, Best Buy, Pier 1 4. HUNTER’S SQUARE / MI 5. MISSION BAY PLAZA / FL 6. WEST OAKS I AND II / MI ABR: $5.7 million ABR: $5.8 million ABR: $5.3 million TOTAL GLA: 263,714 TOTAL GLA: 633,041 (Owned: 411,941) TOTAL GLA: 354,323 MAJOR TENANTS: The Fresh Market, MAJOR TENANTS: Marshalls, Kohl’s, JoAnn, MAJOR TENANTS: TJ Maxx, Marshalls, Bed Golfsmith, LA Fitness, Toys R Us Michaels, DSW, Old Navy Bath & Beyond, buy buy Baby, GAP 11 Ranking based upon pro-rata share of rent.

Portfolio – Twelve Largest Centers by Rent 7. HARVEST JUNCTION / CO 8. JACKSON CROSSING / MI 9. TROY MARKETPLACE / MI ABR: $5.0 million ABR: $4.0 million ABR: $3.6 million TOTAL GLA: 471,357 (Owned: 336,357) TOTAL GLA: 656,568 (Owned: 402,326) TOTAL GLA: 238,354 (Owned: 217,754) MAJOR TENANTS: Dick’s, Ross, Marshalls, MAJOR TENANTS: Target, TJ Maxx, Sears, MAJOR TENANTS: Nordstrom Rack, LA Michaels, Bed Bath & Beyond, ULTA Beauty Bed Bath & Beyond, Toys R Us, Best Buy Fitness, Golfsmith, REI, PetSmart 10. HERITAGE PLACE / MO 11. TOWN & COUNTRY CROSSING / MO 12. HOOVER ELEVEN / MI ABR: $3.3 million ABR: $3.3 million ABR: $3.1 million TOTAL GLA: 269,105 TOTAL GLA: 285,467 (Owned: 148,630) TOTAL GLA: 280,719 MAJOR TENANTS: Marshalls, TJ Maxx, MAJOR TENANTS: Whole Foods, Target, MAJOR TENANTS: Kroger, Marshalls, Office Depot, Dierberg’s Market Cotton Babies, FedEx, Qdoba OfficeMax, Dunham’s Sports 12 Ranking based upon pro-rata share of rent.

Portfolio – Strong Top Ten Tenant Line-up As a result of the Company’s  Credit Rating % of Tenant Name leasing to best-in-class retailers, S&P/Moody's ABR RPT has realigned its top tenant line-up increasing the A+/A3 5.0% concentration of creditworthy retailers while reducing its BBB+/NR 2.3% exposure to at risk tenancies. B-/B2 2.1% Only TJX Companies represents  more than 2.3% of the Trust’s NR/NR 2.0% ABR. A-/A2 1.7%  Whole Foods Market now rounds out the Company’s top NR/NR 1.6% 10 tenant line-up demonstrating the Company’s commitment to NR/NR 1.5% quality. BB/Baa2 1.5% B/Caa1 1.5% BBB-/NR 1.5% Note: As of December 31, 2013. 13

Portfolio – Attractive Retail Components The Company’s retail Retail Composition Credit Quality  composition is weighted Grocery- Local Anchored heavily towards community 14% 8% Power centers and its dominant line- Centers 12% up of national and regional Regional 12% tenants provides stability in any economy. Community  RPT maintains a well-balanced Centers National 80% lease expiration schedule with 74% an average term of 5.3 years Lease Expirations and a maximum exposure in any year of less than 15%. 30.0% 25.0% In 2013, the Company’s lease  renewal rate was 20.0% approximately 80% and 15.0% comparable rents increased 10.0% 8.2% for new and renewal 5.0% leases. 0.0% MTM 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024+ Anchor Shop Note: As of December 31, 2013. 14