Phillips Edison & Company, Inc.

Net Debt Level information, organized by date
Empty Heading	December 31, 2025
Empty Heading	2025	2024	2023	2022	2021
Revolving credit facility Term loans Senior unsecured notes due 2031 Senior unsecured notes due 2032 Senior unsecured notes due 2034 Senior unsecured notes due 2035 Secured loan facilities Mortgages and other	$92,000 484,750 350,000 350,000 350,000 350,000 395,000 29,915	$40,000 584,750 350,000 --- 350,000 350,000 395,000 67,555	$181,000 964,750 350,000 --- --- --- 395,000 95,677	$79,000 955,000 350,000 --- --- --- 395,000 133,199	$--- 955,000 350,000 --- --- --- 395,000 213,316
Total Principal Debt Add: Corporate assets - lease liability - financing	2,401,665 480	2,137,305 31	1,986,427 308	1,912,199 585	1,913,316 766
Total debt - gross Less: Cash and cash equivalents	2,402,145 3,544	2,137,336 4,881	1,986,735 4,872	1,912,784 5,478	1,914,082 92,585
Total net debt - consolidated Add: Prorated share from unconsolidated joint ventures	2,398,601 53,208	2,132,455 28,401	1,981,863 24,156	1,907,306 24,096	1,821,497 26,898
Total net debt	$ 2,451,809	$ 2,160,856	$ 2,006,019	$ 1,931,402	$ 1,848,395

*Unaudited, dollars in thousands

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