STAG Industrial (STAG) Investor Presentation summary

Operating portfolio and leasing activity

• Addressed 96.0% of expected 2025 new and renewal leasing, totaling 13.5 million square feet, with a Cash Rent Change of 24.2% as of September 5, 2025.

• Q3 2025 year-to-date leasing activity reached 11.3 million square feet, with a 26.3% Cash Rent Change and 41.4% Straight-Line Rent Change.

• Weighted average lease term for Q3 2025 YTD is 5.0 years, with a retention rate of 78% and 83% when adjusted for immediate backfills.

• A full-building lease for 244,000 square feet in Greer, South Carolina, commenced on September 1, 2025.

• 2025 Same Store Cash NOI growth guidance is set at 3.75% to 4.00%.

Balance sheet and liquidity

• Estimated liquidity as of September 5, 2025, is approximately $1.1 billion, including $51.5 million in cash, $996.8 million undrawn revolver, and $47.3 million unfunded forward equity.

• Debt maturity ladder is balanced, with a total weighted average interest rate of 4.24% and weighted average maturity of 4.6 years.

• Credit ratings are BBB/Stable from Fitch and Baa2/Stable from Moody's.

Forward-looking statements and definitions

• Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially.

• Preliminary Q3 2025 data is unaudited and subject to revision after financial closing and review procedures.

• Non-GAAP financial measures are used, with definitions and reconciliations available in the supplemental information package.