Plazacorp Shareholder Returns

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2 Plazacorp Shareholder Returns Plazacorp shareholder returns earned since going public (July 1999 to May 23/08): Annualized Rate of Return % (compounded annually) Notes: Annualized rate of return includes capital appreciation and dividend income (1) Capital appreciation based on a share price of $3.80 ($ $0.75 = $3.05). (2) Dividend Income ( $0.02, $0.08, $0.09, $0.105, , (thus far) - $0.0875)

3 Plazacorp Stock Price Comparison From May 2007 to May 2008 One Year Return (6.98)% Annual rate of return includes capital appreciation and dividend income (1) Capital appreciation based on a share price of $3.80 ($ $4.26 = ($0.46)). (2) Dividend Income (August , November , February , May )

4 Liquidity $ Value of Shares Traded 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 YTD April Year

5 Kimco Realty Ownership Kimco Realty owns 10.68% (4,976,532 common shares)of Plazacorp Kimco Realty Corporation, is a leading REIT specializing in acquisitions, development and management of neighborhood and community shopping centers throughout North America. As at December 31, 2007, the company owned 1,973 properties comprising of 183 million square feet in 45 States, Puerto Rico, Canada, Mexico and Chile.

6 Pricing of the Financial Markets May Year Canada Bonds 5.95% 5.72% 4.73% 4.85% 4.04% 4.41% 4.23% 3.56% Mortgage Interest Rate Spreads 2.35% 2.30% 1.55% 1.40% 1.30% 1.18% 1.05% 2.35% Mortgage Rate 8.30% 8.02% 6.28% 6.25% 5.34% 5.59% 5.28% 5.91% Typical Amortization Periods Mortgage Constant 9.39% 9.17% 7.88% 7.86% 6.65% 6.83% 6.61% 7.61%

7 Pricing of the Financial Markets Conclusion: Real Estate is a cyclical business. Good buying opportunities for more redevelopments. Increased equity requirements.

8 Agenda Election of Directors Re-appointment of Auditors Approval of Stock Option Plan 2007 in Review 2008 Development Activity

9 Agenda Election of Directors

10 Agenda Re-appointment of Auditors

11 Agenda Approval of Stock Option Plan

12 Plazacorp Overview PLZ is one of Eastern Canada s leading retail property owners and developers PLZ currently owns a diversified portfolio of 91 high quality retail properties with 4.1 million square feet. PLZ has strong value added leasing, developing and operating capabilities and has built a competitive advantage in its market niche of Atlantic Canada, Quebec and Ontario PLZ has increased its annual dividend for 2008 to 17.5 cents per share an increase of 17%. This represents the 5 th consecutive annual increase in dividends for Plazacorp s shareholders.

13 2007 in Review

14 Property Growth Oct Oct Oct Oct Oct Oct Dec Dec-07 Year Ending # of Properties

15 Book Value of Assets Oct 31/99 Oct 31/00 Oct 31/01 Oct 31/02 Oct 31/03 $ Millions Oct 31/04 Oct 31/05 Oct 31/06 Dec 31/07 Year Ending

16 Revenue Growth $ Millions Year Ending

17 Funds From Operations Oct 31/00 Oct 31/01 Oct 31/02 Oct 31/03 Oct 31/04 $ Millions Oct 31/05 Oct 31/06 Dec 31/07 Year Ending

18 Plazacorp Dividend History $ per Share Year Ending

19 2007 Leasing Activity Square footage of new and renewed leasing deals 742 thousand at December 31, 2007 (December 31, thousand). Number of new and renewed leasing deals is 163 at December 31, 2007 (December 31, ). Occupancy rate 96.9% at December 31, 2007 (December 31, %). At December 31, % of revenues are derived from national and major regional retail tenants (December 31, %). Average lease term to maturity 7.66 years at December 31, 2007 (December 31, years)

20 2007 Financing Activity Mortgage financing, which includes short-term and long- term financing for December 31, 2007 is $71.3 million (December 31, $73.1 million). Included in the $71.3 million funded during the year was $37 million of fixed rate mortgage debt which carry an average rate of 5.46%, a term of 11 years, and an average amortization of 29 years. The overall weighted average cost of fixed rate mortgages is 6.55% at December 31, 2007 (December 31, %) The average term to maturity of long term mortgages is 7.0 years as at December 31, 2007 (December 31, years). The remaining average amortization or repayment period on longterm mortgages is 23.9 years at December 31, 2007 (December 31, years)

21 2007 Financing Activity Issued $3.0 million of 7.5% mortgage bonds maturing on dates ranging from April 2012 to May Subsequent to year end, the Company issued $3.5 million 8% short term subordinated notes with maturity dates of September 13, 2008 and September 18, 2008

22 Development Activity

23 2007 Acquisition & Development Activity Square Footage Plaza Jean XXIII, Trois Riviere, QC 16,721 Plaza BBRF, Sherbrooke, QC 21, Blvd Tache Ouest, Montmagny, QC - Main and Victoria, Shediac, NB 10, Main Street, Sussex, NB 16,915 Bedford Commons, Bedford, NS 70,000 Commercial Street Plaza Phase 2, New Minas, NS - Joseph Howe Drive Plaza, Halifax, NS 25,519 North Sydney Plaza, North Sydney NS 20,807 Robie Street Plaza, Truro, NS 21,890 Airport Blvd, Gander, NL 18,084 St Josephs Boulevard, Orleans, ON 16,799 Civic Centre Road, Petwawa, ON 17,036 Port Hope Plaza, Port Hope, ON 22, King Street, Ganonoque, ON 17,000 Note: The above properties were either acquired or land was assembled during Development on the above properties carried out in 2007 and 2008.

24 2007 Dispositions Square Footage Lansdowne Place, Saint John,NB 204,344 Staples Plaza (Woodlawn), Dartmouth, NS 153,061

25 Plaza Jean XXIII Trois-Rivieres, QC

26 Plaza BDP Deux Montagnes, QC

27 CPRDL Riviere-du-Loup, QC

28 Main and Victoria Shediac, NB

29 201 Main Street Sussex, NB

30 Main and Western Street Sussex, NB

31 KGH Plaza Miramichi, NB

32 Boulevard Hebert Plaza Edmundston, NB

33 Victoria Street Plaza Edmundston, NB

34 North Sydney Plaza North Sydney, NS

35 Joseph Howe Drive Plaza Halifax, NS

36 Robie Street Plaza Truro, NS

37 St Josephs Boulevard Orleans, ON

38 Village Shopping Centre St John s, NL

39 Scott Street Plaza St Catherine s, ON

40 Civic Centre Road Petawawa, ON

41 Q Financial Results

42 Q1 Result Comparison March 31, 2008 March 31, 2007 % Increase (decrease) Revenue $11.4 million $9.73 million 17.1% Basic Funds From Operations $2.74 million $2.77 million (1.1%) Basic Funds From Operations Per Share $0.059 $0.065 (9.2%) EBITDA $6.38 million $5.709 million 11.7% Book Value of Assets $283 million $233 million 21%

43 Development Activity to Date

44 Gateway Mall Sussex, NB

45 Fairville Boulevard Saint John, NB

46 Fairville Boulevard Saint John, NB

47 Main and Sackville Shediac, NB

48 Airport Blvd Gander, NL

49 Stars Road Plaza Yarmouth, NS

50 Bedford Commons Bedford, NS

51 Bedford Commons Bedford, NS

52 Granite Drive New Minas, NS

53 Granite Drive New Minas, NS

54 Plaza BBRF Sherbrooke, QC

55 Les Promenades du Cuivre (Staples) Rouyn Noranda, QC

56 Port Hope Plaza Port Hope, ON

57 641 King Street Gananoque, ON

58 Going Forward Continue to grow our portfolio of properties through new developments and re-developments across our geography. Navigate through the volatile long term financing environment that will create new opportunities for strong real estate operators such as Plazacorp. Maintain our focus and continue to exploit our competitive advantage in order to develop high quality new retail developments. Continue to grow our cash flow and work to increase our dividend.

59 Questions

60 Thank you