Plymouth Industrial REIT (PLYM) Investor presentation summary

Portfolio overview and market positioning

• Owns 129 properties with 199 buildings totaling 29.3 million square feet and 92.3% occupancy as of December 31, 2024.

• Portfolio is diversified by tenant, geography, asset type, and industry, with top ten tenants accounting for 16.2% of annualized base rent.

• Focuses on Tier I and Tier II markets within the Golden Triangle, benefiting from infrastructure investment and proximity to major logistics hubs.

• 90% of annualized base rent is from leases under 250,000 square feet, targeting small to mid-size tenants.

• Average remaining lease term is 3.2 years, with 83.6% of rent from triple net leases.

Investment activity and value creation

• Acquired 258,082 square feet in Cincinnati for $20.1 million at a 6.8% yield; additional acquisitions in Atlanta and Cincinnati in Q1 2025.

• Completed $70 million in development projects with initial cash NOI yields of 7.5%; all completed buildings are fully leased.

• Achieved significant rent increases on lease renewals, such as a 124% rental rate increase in Savannah, GA, and stabilized yields up to 12%.

• Ongoing development includes a 41,958-square-foot building in Jacksonville, FL, with a $5.7 million investment and targeted completion by year-end 2025.

• Partnered with the Green Building Initiative, achieving multiple Green Globe certifications for sustainability.

Strategic partnerships and capital structure

• Entered a $253 million strategic partnership with Sixth Street, including a Chicago joint venture and $140 million in preferred equity.

• Chicago JV involved contributing 34 properties (~5.9 million SF) at a 6.2% cap rate, with PLYM retaining a 35% interest.

• Sixth Street receives a 7% return on preferred equity and 13.5% IRR on JV distributions; PLYM can redeem preferred equity at any time.

• Strengthened balance sheet with a $600 million amended unsecured credit facility, 97% of debt fixed as of year-end 2024.

• Leverage expected to decline sequentially after JV closing, remaining in line with stated targets.