Automotive Properties Real Estate Investment Trust (APR-UN) Investor presentation summary

Investment highlights

• Portfolio consists of 95 prime urban properties valued at $1.43 billion, with 3.5 million sq. ft. of GLA and 100% occupancy as of May 2026.

• Properties are leased to diversified, high-quality automotive and OEM tenants under long-term, triple-net/net leases with fixed or CPI-linked rent escalators, ensuring stable and growing cash flows.

• Achieved a 2.2% distribution increase in August 2025, providing a 6.8% yield, with no history of distribution cuts.

• Deployed ~$278 million on 17 property acquisitions in 2025-2026, driving significant AFFO per unit growth.

• Trading below historical AFFO/unit multiples and at a notable discount to NAV.

Financial and operational performance

• AFFO per unit (diluted) increased 13.9% since IPO, reaching $1.014 LTM as of May 2026.

• AFFO payout ratio improved to 80.6% LTM, down from 90.3% at IPO.

• Record quarterly AFFO per unit of $0.262 in Q1 2026, with a payout ratio of 80.1%.

• Total return since IPO (July 2015 to May 2026) is 162%, including reinvested dividends.

• Debt to GBV reduced to 47.8% as of May 2026, with 77% of debt at fixed rates and minimal spread risk on rollover.

Portfolio growth and strategy

• Acquired 72 properties and expanded four since IPO, adding ~2.5 million sq. ft. of GLA and increasing diversification.

• Entered select U.S. markets, currently owning properties in California, Florida, and Ohio.

• Capital recycling strategy demonstrated by the sale of Kennedy Lands at a 79% premium to IFRS value, reducing leverage and increasing acquisition capacity.

• Focused on consolidating a highly fragmented industry, with top 10 dealership groups holding only 14.1% of the Canadian market.