# EDGAR Filing Document

**Accession Number:** 0001476204
**File Stem:** 0001628280-26-011133
**Filing Date:** 2026-2
**Character Count:** 6746
**Document Hash:** 4987d32addabb1fea90c0c16a0db0547
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-26-011133.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0001628280-26-011133

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260224

**DATE AS OF CHANGE**: 20260224

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Phillips Edison Grocery Center Operating Partnership I, L.P.
- **CENTRAL INDEX KEY:** 0001882413

**ORGANIZATION NAME:**
- **EIN:** 271449019
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-284765-01
- **FILM NUMBER:** 26672079

**BUSINESS ADDRESS:**
- **STREET 1:** 11501 NORTHLAKE DRIVE
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45249
- **BUSINESS PHONE:** (513) 554-1110

**MAIL ADDRESS:**
- **STREET 1:** 11501 NORTHLAKE DRIVE
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45249
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Phillips Edison & Company, Inc.
- **CENTRAL INDEX KEY:** 0001476204
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 271106076
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** 11501 NORTHLAKE DRIVE
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45249
- **BUSINESS PHONE:** 513-554-1110

**MAIL ADDRESS:**
- **STREET 1:** 11501 NORTHLAKE DRIVE
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45249

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PHILLIPS EDISON GROCERY CENTER REIT I, INC.
- **DATE OF NAME CHANGE:** 20141205

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Phillips Edison Grocery Center REIT I, Inc.
- **DATE OF NAME CHANGE:** 20141205

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Phillips Edison - ARC Shopping Center REIT Inc.
- **DATE OF NAME CHANGE:** 20091105

**Issuer Free Writing Prospectus**

**Filed Pursuant to Rule 433**

**Registration File Nos. 333-284765 and 333-284765-01**

**Relating to Preliminary Prospectus Supplement dated February 24, 2026**

**to Prospectus dated February 7, 2025**

**Pricing Term Sheet** 

**Phillips Edison Grocery Center Operating Partnership I, L.P.** 

**$350,000,000 4.750% Senior Notes due 2033** 

**February 24, 2026**

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| | |
|:---|:---|
| **Issuer:** | Phillips Edison Grocery Center Operating Partnership I, L.P. |
| **State of Formation:** | Delaware |
| **Guarantor:** | Phillips Edison & Company, Inc. |
| **Expected Ratings\* (Moody's/S&P):** | Baa2 / BBB |
| **Security:** | 4.750% Senior Notes due 2033 |
| **Aggregate Principal Amount:** | $350000000 |
| **Maturity Date:** | March 15, 2033 |
| **Interest Rate:** | 4.750% per annum |
| **Interest Payment Dates:** | March 15 and September 15, commencing September 15, 2026 |
| **Price to Public:** | 99.920% of the aggregate principal amount |
| **Yield to Maturity:** | 4.763% |
| **Benchmark Treasury:** | 4.000% due January 31, 2033 |
| **Spread to Benchmark Treasury:** | +97 basis points |
| **Benchmark Treasury Price / Yield:** | 101-08 / 3.793% |
| **Optional Redemption:** | Prior to January 15, 2033 (two months prior to the Maturity Date of the Notes), "make-whole" redemption at the Treasury Rate (as defined) plus 15 basis points, plus accrued and unpaid interest thereon to the redemption date. On and after January 15, 2033, (two months prior to the Maturity Date of the Notes), at a redemption price equal to 100% of the principal amount, plus accrued and unpaid interest thereon to the redemption date. See the preliminary prospectus supplement for the definition of "Treasury Rate" and for further terms and provisions applicable to optional redemption and the calculation of the redemption price. |
| **Trade Date:** | February 24, 2026 |
| **Settlement Date:** | February 26, 2026 (T+2); under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes prior to the date that is one business day preceding the settlement date will be required, by virtue of the fact that the Notes initially settle in T+2 to specify an alternate settlement arrangement at the time of any such trade to prevent a failed settlement. Purchasers of the Notes who wish to trade the Notes during such period should consult their advisors. |

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| | |
|:---|:---|
| **CUSIP/ISIN:** | 71845J AE8 / US71845JAE82 |
| **Minimum Denomination:** | $2,000 and integral multiples of $1,000 in excess thereof |
| **Joint Book-Running Managers:** | Wells Fargo Securities, LLC<br>BMO Capital Markets Corp.<br>BofA Securities, Inc.<br>Mizuho Securities USA LLC<br>PNC Capital Markets LLC<br>Capital One Securities, Inc.<br>Fifth Third Securities, Inc.<br>J.P. Morgan Securities LLC<br>KeyBanc Capital Markets Inc.<br>Morgan Stanley & Co. LLC<br>Regions Securities LLC<br>U.S. Bancorp Investments, Inc. |
| **Co-Managers:** | Samuel A. Ramirez & Company, Inc. |

---

**\*&nbsp;&nbsp;&nbsp;&nbsp;A securities rating is not a recommendation to buy, sell or hold securities and may be revised or withdrawn at any time. Each of the ratings above should be evaluated independently of any other security rating.** 

**The issuer and guarantor have filed a registration statement (including a prospectus) and a preliminary prospectus supplement with the U.S. Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and the preliminary prospectus supplement and other documents the issuer and guarantor have filed with the SEC for more complete information about the issuer and guarantor and this offering. You may get these documents for free by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, the issuer, the guarantor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by contacting: Wells Fargo Securities, LLC, at 1-800-645-3751; BMO Capital Markets Corp., by telephone at +1 (888) 200-0266; BofA Securities, Inc., by telephone at 1-800-294-1322; Mizuho Securities USA LLC, Toll free: 1-866-271-7403; or PNC Capital Markets LLC toll free at 855-881-0697.** 

Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result of this communication being sent by Bloomberg or another email system.

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