Pennsylvania Real Estate Investment Trust : Quarterly Supplemental Disclosure (June 30, 2023)

Exhibit 99.1

Supplemental Financial and Operating Information

June 30, 2023

www.preit.com

OTCQB: PRET

OTCQB: PRETL, PRETM, PRETN

Pennsylvania Real Estate Investment Trust

Supplemental Financial and Operating Information

June 30, 2023

Table of Contents

Introduction
Company Information	1
Earnings Release	2
Changes in Funds from Operations (FFO) for the Three and Six Months Ended June 30, 2023	5
Market Capitalization and Capital Resources	6
Operating Results
Statements of Operations - Three and Six Months Ended June 30, 2023 and 2022	7
Computation of Earnings Per Share - Three Months and Six Months Ended June 30, 2023 and 2022	8
Reconciliation of Net Operating Income (NOI) and EBITDAre (Non-GAAP Measures) - Three Months and Six Months Ended
June 30, 2023 and 2022	9
Reconciliation of Net Loss (GAAP Measure) to Net Operating Income (NOI) from Consolidated Properties (Non-GAAP Measure) -
Three Months Ended June 30, 2023 and 2022	10
Reconciliation of Equity in (Loss) Income of Partnerships (GAAP Measure) to Net Operating Income (NOI) from Equity Method
Investments, at Ownership Share (Non-GAAP Measure) - Three Months Ended June 30, 2023 and 2022	11
Reconciliation of Net Loss (GAAP Measure) to Net Operating Income (NOI) from Consolidated Properties (Non-GAAP Measure) -
Six Months Ended June 30, 2023 and 2022	12
Reconciliation of Equity in (Loss) Income of Partnerships (GAAP Measure) to Net Operating Income (NOI) from Equity Method
Investments, at Ownership Share (Non-GAAP Measure) - Six Months Ended June 30, 2023 and 2022	13
Reconciliation of Net Loss (GAAP Measure) to Funds From Operations (FFO) and Funds Available for Distribution (FAD) (Non-
GAAP Measures) - Six Months Ended June 30, 2023 and 2022	14
Condensed Consolidated Balance Sheets	15
Assets and Liabilities - Equity Method Investments, at Ownership Share (Non-GAAP Measure)	16
Operating Statistics
Leasing Activity Summary - Three and Six Months Ended June 30, 2023	17
Summarized Sales and Rent Per Square Foot and Occupancy Percentages	20
Mall Occupancy Percentage and Sales Per Square Foot	21
Top Twenty Tenants as of June 30, 2023	22
Lease Expirations as of June 30, 2023	23
Property Information as of June 30, 2023	24
Balance Sheet
Investment in Real Estate - Consolidated Properties	27
Investment in Real Estate - Equity Method Investments at Ownership Share	28
Capital Expenditures - Three and Six Months Ended June 30, 2023	29
Debt Analysis as of June 30, 2023	30
Debt Schedule as of June 30, 2023	32
Selected Debt Ratios	33
Forward Looking Statements	34
Definitions	35

Pennsylvania Real Estate Investment Trust

Company Information

Background

PREIT (OTCQB:PRET) is a publicly traded real estate investment trust (REIT) that owns and manages innovative properties developed to be thoughtful, community-centric hubs. PREIT's robust portfolio of carefully curated, ever-evolving properties generates success for its tenants and meaningful impact for the communities it serves by keenly focusing on five core areas of established and emerging opportunity: multi- family & hotel, health & tech, retail, essentials & grocery and experiential. Located primarily in densely-populated regions, PREIT is a top operator of high quality, purposeful places that serve as one-stop destinations for customers to shop, dine, play and stay. The portfolio consists of 23 properties, 22 of which are operating properties and one is a development property. The 22 operating retail properties have a total of 18.3 million square feet and include 19 shopping malls and three other retail properties.

If you would like to learn more about PREIT or participate in our quarterly earnings conference call, please visit preit.com or contact:

Mario Ventresca

EVP & CFO

One Commerce Square

2005 Market Street, Suite 1000

Philadelphia, PA 19103

Telephone: [phone]

Heather Crowell [e-mail]

Press release announcements are available on the Company's website at www.preit.com.

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CONTACT: AT THE COMPANY

Mario Ventresca

EVP & CFO [phone]

INVESTOR RELATIONS

Heather Crowell [e-mail]

PREIT Reports Second Quarter 2023 Results

Core Mall Total Occupancy Grew to 94.2%, Portfolio 95.0% Leased

Core Mall Sales Per Square Foot Were $592 in June

Average Renewal Spreads Were 4.7% for the Quarter Ended June 30, 2023

Philadelphia, August 3, 2023 - PREIT (OTCQB:PRET) today reported results for the three and six months ended June 30, 2023. A description of each non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is provided in the tables accompanying this release.

(per share amounts)		Three Months Ended June 30,		Six Months Ended June 30,
	2023			2022			2023			2022
Net loss - basic and diluted	$	(9.73)		$	(3.32)		$	(19.48)		$	(10.72)
FFO	$	(3.15)	$	1.72		$	(6.20)	$	1.51
FFO, as adjusted	$	(3.15)	$	1.71		$	(6.20)	$	0.83

"Our quarterly results demonstrate that our portfolio continues to be attractive to tenants and customers with core mall non- anchor occupancy improving 120 basis points and total leasing activity nearly 60% ahead of last year," said Joseph F. Coradino, Chairman and CEO of PREIT. "Improvements in occupancy and renewal spreads are clear indicators of compelling nature of our portfolio to tenants."

• Same Store NOI, excluding lease termination revenue, decreased 3.4% and decreased 2.2% when excluding Whole Foods at Plymouth Meeting for the three months ended June 30, 2023 compared to the three months ended June 30, 2022.
• Robust leasing activity is driving increased occupancy with Core Mall Total Occupancy increasing by 40 basis points to 94.2% compared to the second quarter 2022. Core Mall non-anchor Occupancy improved 70 basis points to 91.2% compared to the second quarter 2022.
• Core Mall total leased space, at 95.0%, exceeds occupied space by 80 basis points, and Core Mall non-anchor leased space, at 92.4%, is higher than occupied space by 120 basis points when including executed new leases slated for future occupancy, demonstrating the rapid pace of leasing activity.

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• For the rolling 12 month period ended June 30, 2023, Core Mall comparable sales were $592 per square foot, compared to $539 for the year ended December 31, 2019.
• Average renewal spreads for the three and six months ended June 30, 2023 were 4.7% and 5.1%, respectively.
• Since the beginning of 2023, the Company sold assets generating just over $30 million in gross proceeds.

Leasing and Redevelopment

• 216,000 square feet of leases are signed for future openings, which is expected to contribute annualized gross rent of approximately $6.15 million.
• Construction is underway on the new self-storage facility in previously unused, below grade space at Mall at Prince George's with an anticipated opening in the third quarter of 2023.
• Tilted 10 opened Phase II of its planned two-level indoor family entertainment center at Willow Grove Park in July 2023, adding family entertainment to this locally-loved destination shopping experience.
• At Moorestown Mall, construction is underway for the new state-of-the-art Cooper University Healthcare facility, expected to open its initial phase in fall 2023, and the 375-unit Pearl apartment development, following completion of the sale of land in the second quarter of 2022.
• At Springfield Town Center, tenant construction is underway for a new prototype, 32,000 square foot, LEGO® Discovery Center with an announced grand opening of August 9, 2023. Construction on the new 30,000 square foot Burlington location is also underway for an anticipated opening later this year. Municipal approvals were obtained for the development of 460 apartments and a 165-room hotel, setting the stage for sale of these parcels in the second half of 2023.

Primary Factors Affecting Financial Results for the Three Months Ended June 30, 2023 and 2022

• Net loss attributable to PREIT common shareholders was $51.8 million (which takes into consideration the accrual of preferred dividends that accumulated during the quarter but have not been paid), or $(9.73) per basic and diluted share for the three months ended June 30, 2023, compared to net loss attributable to PREIT common shareholders of $17.6 million, or $(3.32) per basic and diluted share for the three months ended June 30, 2022.
• Funds from Operations decreased in the three months ended June 30, 2023 compared to the prior year period primarily due to higher interest expense and a decrease in gain on sale of equity method investment.
• FFO for the three months ended June 30, 2023 was $(3.15) per diluted share and OP Unit compared to $1.72 per diluted share and OP Unit for the three months ended June 30, 2022.

All NOI and FFO amounts referenced as primary factors affecting financial results above include our share of unconsolidated properties' revenues and expenses. Additional information regarding changes in operating results for the three and six months ended June 30, 2023 and 2022 is included on page 15.

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