Lineage (LINE) Investor presentation summary

Market leadership and scale

• Operates 501 warehouses across 19 countries, totaling 3.1bn cubic feet and 88mm square feet, making it the largest temperature-controlled warehouse REIT globally.

• Holds #1 market position in the U.S., Canada, UK, Continental Europe, Australia, New Zealand, and Vietnam, with 12% global market share and 34% in North America.

• Portfolio concentrated in strategic, hard-to-replicate locations, with 95% of revenue from #1 positions and 75% of NOI from distribution centers.

• 83 of 501 warehouses are automated, supporting operational efficiency and scalability.

• Completed 126 acquisitions since 2008, with 85 since 2020, leveraging a proprietary integration playbook.

Integrated solutions and customer relationships

• Offers a comprehensive suite of value-added services, including warehousing, transportation, and end-to-end logistics.

• 97% of integrated solutions NOI comes from customers who also use warehousing services, deepening customer relationships and increasing stickiness.

• Top 25 customers account for 33% of revenue, with an average relationship length of over 30 years and 94% investment-grade status.

• Diversified revenue across commodities, customers, and geographies, with North America representing 74% of revenue.

Technology, automation, and operational excellence

• Proprietary LinOS platform orchestrates both human and robotic workflows, driving labor savings and revenue uplift.

• LinOS projected to deliver $110M annualized EBITDA within 3-5 years, with 10% labor savings and 1% revenue uplift at in-scope sites.

• 222MW of on-site solar generation and 169 patents issued, supporting sustainability and innovation.

• Operational excellence initiatives have led to 860bps outperformance in labor cost per throughput pallet versus industry inflation.