Lineage (LINE) Investor presentation summary

Key investment highlights

• Cold storage is essential infrastructure for the global food supply chain, operating in a large, growing, and recession-resistant market.

• Holds global leadership in a fragmented industry, with scale and network benefits diversified across geographies, customers, and commodities.

• Operates high-quality assets in strategic locations worldwide, with a strong focus on technology and operational excellence.

• Pursues significant global growth through greenfields, expansions, and acquisitions, supported by an experienced management team.

• Recognized for its mission-driven approach and award-winning culture.

Business overview and scale

• Largest temperature-controlled warehouse REIT globally, with 3.1bn cubic feet and 488 warehouses across 19 countries.

• Serves over 13,000 customers, with $1.3bn in 2024 adjusted EBITDA and 44% of revenue from contracts with minimum storage guarantees.

• Operates 82 automated warehouses and has 146MW of installed on-site solar generation.

Growth and strategic milestones

• Achieved ~44% adjusted EBITDA CAGR from 2008 to 2024, expanding globally through acquisitions and greenfield projects.

• Completed the largest REIT IPO of all time and entered multiple international markets.

• Integrated advanced technology and data science, earning industry recognition.