Plymouth Industrial REIT (PLYM) Investor presentation summary

Portfolio overview and market positioning

• Owns 133 properties with 204 buildings totaling 30 million square feet and 94.3% occupancy as of March 31, 2025.

• Portfolio is diversified by tenant, geography, asset type, and industry, with top ten tenants accounting for 16.3% of annualized base rent.

• Over 85% of annualized base rent is from leases under 250,000 square feet, with an average tenant size of ~55,000 square feet.

• Focused on Tier I and Tier II markets within the Golden Triangle, benefiting from infrastructure, port access, and population growth.

• More than half of buildings are under 100,000 square feet, with national vacancy rates for this segment at 3.9%.

Investment activity and capital management

• Acquired over 900,000 square feet YTD 2025, with 1.95 million square feet under contract and $193 million in Ohio markets pending.

• Completed $600 million unsecured credit facility, expanding borrowing capacity and extending maturities.

• Sixth Street strategic investment: $253 million total, including $113 million for a 65% JV interest and $140 million in preferred equity at 7% return.

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

• Balance sheet improved with 88% fixed-rate debt and only $84.5 million floating as of March 31, 2025.

Leasing, rent growth, and value creation

• Collected over 99.6% of rent in Q1 2025; same-store occupancy at 94.7%.

• New and renewal leases in Q1 2025 were 9.6% higher than expiring rates (16.2% excluding a large St. Louis lease).

• Portfolio-wide mark-to-market expected at 18–20% on a cash basis.

• Recent Cincinnati acquisition: 240,658 SF at $17.9 million, 7% yield, fully leased.

• Columbus renewal: 314,736 SF, 64.5% rent increase, stabilized yield now 14.6%.