SITE Centers (SITC) Announces Spin-Off Record and Distribution Dates

SITE Centers Corp. (NYSE: SITC) today announced that its Board of Directors has set record and distribution dates for the spin-off of its portfolio of convenience retail properties into a separate publicly traded company, which will be effected through the distribution of 100 percent of the shares of common stock of Curbline Properties Corp. (“Curbline”) to holders of SITE Centers common shares.

The distribution of the shares of Curbline common stock is expected to be completed at 12:01 a.m. Eastern Time on October 1, 2024 (the “Distribution Date”). Following such distribution, Curbline will be an independent, publicly traded company. Curbline expects to receive approval prior to the Distribution Date to list its common stock on the New York Stock Exchange (the “NYSE”) under the ticker symbol “CURB.”

SITE Centers shareholders will receive two shares of Curbline common stock for every one common share of SITE Centers held at the close of business on the record date of September 23, 2024. SITE Centers shareholders entitled to receive the October 1 distribution will receive a book-entry account statement or a credit to their brokerage account reflecting their new ownership of shares of Curbline common stock.

SITE Centers expects “when-issued” public trading for Curbline common stock will commence on the NYSE on September 26, 2024, under the ticker symbol “CURB WI,” and will continue until the Distribution Date. SITE Centers also anticipates that "regular way" trading of Curbline common stock will begin on the Distribution Date.

The completion of the spin-off is subject to certain conditions including, without limitation, the Securities and Exchange Commission declaring Curbline’s Registration Statement on Form 10 effective.

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