Postal Realty Trust (PSTL) Investor presentation summary

Portfolio overview

• Owns 1,943 USPS-leased properties across last mile, flex, and industrial asset classes in 49 states and Puerto Rico, totaling 7.1 million interior sq. ft. and over 40 million site sq. ft.

• Portfolio is 99.8% occupied with a weighted average lease term of approximately 4 years.

• Asset base has grown by ~1,095% since IPO, with annual acquisitions averaging $120 million.

• Diversified geographically and by lease maturity, with 61% of ABR maturing in 2030 or later.

• Weighted average lease retention rate of 99.5% over the past decade, reflecting tenant stability.

Financial performance and growth

• AFFO per share CAGR of 5.8% from 2020 to 2026E, with 2026E AFFO per share guidance at $1.41.

• Same-store cash NOI growth averaged 6.3% from 2023-2025, with 8.9% growth in 2025.

• Dividend yield of 5.2% based on Q4'25 dividend and share price as of February 2026.

• Total shareholder return guidance for 2026 is approximately 11%, combining AFFO growth and dividend yield.

• G&A as a percentage of revenue and AFFO payout ratio have declined as scale increased.

Growth strategy and opportunities

• Internal growth driven by marking rents to market, annual rent escalations (3% in new leases), and operating efficiencies.

• Lease expirations provide opportunity to re-lease at higher rents; 39% of ABR to be marked to market between 2026-2029.

• External growth through consolidation of a fragmented market; currently holds ~8% share of USPS-leased market.

• Acquired over $700 million in real estate over seven years at or below replacement cost, with a 7.7% cap rate on 2025 acquisitions.

• Internal growth outpaces peers, with a 3-year average same-store NOI growth of 6.4% vs. peer average of 2.7%.