DDR Completes Retail Value Spin-Off

BEACHWOOD, Ohio — July 2, 2018, DDR Corp. (NYSE:DDR) today announced that it has completed the
previously announced spin-off of Retail Value Inc. (“RVI”), which is now an independent, publicly traded
company that will begin regular-way trading today on the New York Stock Exchange (“NYSE”) under the
ticker symbol “RVI.” RVI has a portfolio of 48 assets that includes 36 continental U.S. assets and all 12 of
DDR’s previously owned Puerto Rico assets.

DDR shareholders received one RVI common share for every ten common shares of DDR held at the close
of business on the record date of June 26, 2018. Fractional shares of RVI were not distributed, and instead
DDR common shareholders will receive cash in lieu of any fractional shares that they would otherwise have
been entitled to receive in the distribution.

“I am extremely excited by the completion of the spin-off of RVI, which should allow our shareholders to
benefit from value realization through operations and dispositions at RVI and redevelopment, same store
NOI growth, and opportunistic investing at New DDR.” said David R. Lukes, president and chief executive
officer of DDR. “This transaction represents a decisive, strategic transformation that aims to generate both
short and long-term benefits for all our stakeholders.”

About DDR
DDR is an owner and manager of open-air shopping centers that provide a compelling shopping experience
and merchandise mix for retail partners and consumers. The Company is a self-administered and selfmanaged
REIT operating as a fully integrated real estate company, and is publicly traded on the New York
Stock Exchange under the ticker symbol DDR. Additional information about the Company is available at
www.ddr.com. To be included in the Company’s e-mail distributions for press releases and other investor
news, please click here.


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