Plymouth Industrial REIT (PLYM) Investor presentation summary

Portfolio overview and market positioning

• Owns 158 properties with 223 buildings totaling nearly 35 million square feet and 94.2% occupancy as of September 30, 2024.

• Portfolio is diversified by tenant, geography, asset type, and industry, with top ten tenants accounting for 14.8% of annualized base rent.

• Focuses on Tier I and Tier II markets within the Golden Triangle, benefiting from infrastructure investment, population growth, and logistics advantages.

• 81.2% of annualized base rent comes from triple net leases, and average lease term remaining is 3.3 years.

• Portfolio is concentrated in markets with strong rent growth and limited new supply for small to mid-size industrial properties.

Growth strategy and investment activity

• Emphasizes accretive acquisitions, value-add opportunities, and disciplined capital allocation to drive returns and competitive lease rates.

• Completed a $100.5M acquisition of a 1.6M SF Memphis portfolio at an 8% yield and delivered new developments in Jacksonville with projected stabilized yields of 7-9%.

• Owns 117 acres of developable land in key markets, with potential for 1.8M SF of new space.

• Recent leasing activity includes a Savannah direct lease with a 124% rent increase and a stabilized yield of 12%.

• Proforma stabilized cash NOI yields on development projects range from 7.0% to 9.0%.

Financial performance and capital structure

• Achieved seven consecutive quarters of net debt to Adjusted EBITDA reduction, reaching 6.5x at year-end 2023 and 6.6x in Q3 2024.

• Entered a $600M amended unsecured credit facility in November 2024, enhancing liquidity and borrowing capacity.

• Fixed 89% of debt as of September 30, 2024, with only $96.4M floating.

• Completed a strategic partnership with Sixth Street, raising $253M in capital and forming a Chicago JV for 34 properties, with proceeds used for new investments.

• Maintains a leverage-neutral position with overall leverage expected to decline after the JV closing.