Weingarten Realty Investors Comments on ISS Recommendation

HOUSTON–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/FOR?src=hash” target=”_blank”gt;#FORlt;/agt;–Weingarten Realty Investors (NYSE:WRI) issued the following statement in
response to Institution Shareholder Services Inc.’s (“ISS”)
recommendation against Proposal Three: Advisory Proposal to Approve
Executive Compensation to be voted on at the 2019 Annual Meeting.

“ISS has raised two issues. First, they indicate that existing Change In
Control (CIC) agreements provide for automatic accelerated vesting upon
a change-in-control event. This is an error as the agreements have
always been ‛dual trigger’,” said Drew Alexander, Chairman, President
and Chief Executive Officer.

“Furthermore, the ‛excise tax gross up’ provision in question has been a
part of the Change In Control (CIC) agreements for Steve Richter
(Executive Vice President and Chief Financial Officer) and Johnny
Hendrix (Executive Vice President and Chief Operating Officer) for over
20 years. This provision is no longer supported by ISS; however,
existing agreements were grandfathered. The agreements were recently
amended to extend the defined service period beyond the age of 65. No
other part of the agreement was modified.”

“We encourage shareholders to vote FOR Proposal Three: Advisory Proposal
to Approve Executive Compensation.”

About Weingarten Realty Investors

Weingarten Realty Investors (NYSE: WRI) is a shopping center owner,
manager and developer. At December 31, 2018, the Company owned or
operated under long-term leases, either directly or through its interest
in real estate joint ventures or partnerships, a total of 178 properties
which are located in 17 states spanning the country from coast to coast.
These properties represent approximately 35.1 million square feet of
which our interests in these properties aggregated approximately 22.9
million square feet of leasable area. To learn more about the Company’s
operations and growth strategies, please visit www.weingarten.com.

Forward-Looking Statements

Statements included herein that state the Company’s or Management’s
intentions, hopes, beliefs, expectations or predictions of the future
are “forward-looking” statements within the meaning of the Private
Securities Litigation Reform Act of 1995 which by their nature, involve
known and unknown risks and uncertainties. The Company’s actual results,
performance or achievements could differ materially from those expressed
or implied by such statements. Reference is made to the Company’s
regulatory filings with the Securities and Exchange Commission for
information or factors that may impact the Company’s performance.

Projections involve numerous assumptions such as rental income
(including assumptions on percentage rent), interest rates, tenant
defaults, occupancy rates, volume and pricing of properties held for
disposition, volume and pricing of acquisitions, expenses (including
salaries and employee costs), insurance costs and numerous other
factors. Not all of these factors are determinable at this time and
actual results may vary from the projected results, and may be above or
below the ranges indicated. The above ranges represents management’s
estimate of results based upon these assumptions as of the date of this
press release. Accordingly, there is no assurance that our projections
will be realized.

Contacts

Michelle Wiggs, Vice President of Investor Relations, Phone: (713)
866-6050