InterRent Real Estate Investment Trust (IIP-UN) Investor Presentation summary

Investment highlights

• High-quality portfolio in urban, high-growth Canadian markets with over 13,000 suites and 20,000+ residents across four core regions.

• Consistent top-line growth, industry-leading NAV/unit growth, and a strong track record of distribution increases with a conservative payout ratio.

• Financial flexibility supported by a strong balance sheet, low variable rate exposure, and significant available liquidity.

• Clear sustainability goals, including 100% building certification and a 21% year-over-year improvement in GRESB score.

• Strategic focus on organic growth, property repositioning, and disciplined capital recycling.

Portfolio and market positioning

• Properties concentrated in Greater Toronto & Hamilton, Greater Montreal, Ottawa, and Greater Vancouver, with the majority of NOI from Ontario and Quebec.

• Portfolio features high walk and transit scores, with 90% of assets repositioned and modernized as of January 2025.

• Resident base is young, educated, and diverse, with a median age of 31 and 85% holding a post-secondary degree.

• Strategic locations near tech hubs, hospitals, and universities drive demand and support premium rents.

Operational performance and differentiation

• Achieved industry-leading NOI margins (66.6% TTM as of September 2024) and FFO per unit CAGR of 36.5% since inception.

• Strong gain-on-lease and above-average turnover drive superior rent growth compared to peers.

• Consistent annual distribution growth for 13 consecutive years, with an 8% CAGR since 2009.

• Investment in technology and people enhances operational efficiency, resident experience, and team performance.