ANNUAL UNITHOLDERS MEETING May 14, 2015 1 Scott Frederiksen - - PowerPoint PPT Presentation

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ANNUAL UNITHOLDERS MEETING May 14, 2015 1 Scott Frederiksen Chairman & CEO 7515 Hartman Industrial Way Atlanta, Georgia 2 GLA: 113,700 sq. ft. Ceiling height: 28 feet Forward-Looking Statements Certain statements in this

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ANNUAL UNITHOLDERS’ MEETING

May 14, 2015

SLIDE 2

Scott Frederiksen

Chairman & CEO

7515 Hartman Industrial Way Atlanta, Georgia

GLA: 113,700 sq. ft. Ceiling height: 28 feet

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Certain statements in this presentation may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of WPT Industrial Real Estate Investment Trust (“ WPT REIT”

r the “

REIT"), or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this presentation, such statements use such words as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate" and other similar terminology. These statements reflect the REIT's current expectations regarding future events and

perating performance including the REIT’

s future growth potential, results of operations, future prospects and opportunities, demographic and industry trends and future legislative and regulatory approaches with respect to matters affecting the REIT and speak only as of the date of this presentation. Forward-looking statements involve significant risks and uncertainties, which include, but are not limited to the factors discussed under “ Forward-Looking Statements” and "Risk Factors" in the REIT’ s annual information form for the year ended December 31, 2014, the “ AIF” and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. Forward looking statements are necessarily broad on a number of estimates and assumptions that, while considered reasonable by management of the REIT as of the date of this presentation, are inherently subject to significant business, economic and competitive uncertainties and contingencies; therefore, the REIT cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this presentation and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the REIT assumes no obligation to update or revise them to reflect new events or circumstances. This presentation does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any securities nor shall it or any part of it form the basis of or be relied on in connection with, or act as any inducement to enter into, any contract or commitment whatsoever. The information contained in this presentation concerning the REIT and its affiliates does not purport to be all-inclusive or to contain all the information that a prospective purchaser or investor may desire to have in evaluating whether or not to make an investment in the REIT. The information is qualified entirely by reference to the AIF. This presentation includes certain financial measures such as funds from operations (“ FFO” ), adjusted funds from operations (“ AFFO” ) and net operating income (“ NOI” ) that are not measures recognized under International Financial Reporting Standards (“ IFRS” ) and do not have standardized meanings prescribed by IFRS. FFO, AFFO and NOI are supplemental measures of a Canadian real estate investment trust’ s performance and the REIT believes they are relevant measures of the ability of the REIT to earn and distribute cash returns to investors in the Units and to evaluate the REIT’ s performance. The IFRS measurement most directly comparable to FFO, AFFO and NOI is net income. Tables reconciling such non- IFRS financial measures are available in this presentation and in the AIF.

Forward-Looking Statements

All currency in U.S. dollars

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2014 – A Year of Strong Growth

ONLY Canadian REIT focused exclusively on U.S. industrial real estate

Specific concentration on US distribution market Strong growth and performance since April 2013 IPO Managed by Welsh Property Trust

Over 35 years of experience
Fully aligned with 47.3%
wnership interest

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Consistent Growth Since IPO

Property acquisitions make significant contribution

(US$,000 except per Unit amounts)

Q1 2015 Q4 2014 Q3 2014 Q2 2014 Q1 2014 Investment properties revenue 16,386 15,431 15,227 13,846 12,847 NOI 12,452 11,796 11,610 10,480 9,432 FFO 7,990 7,623 7,431 6,541 5,928 AFFO 6,697 6,363 6,234 5,155 4,816 AFFO per Unit $0.207 $0.216 $0.212 $0.188 $0.202 AFFO Payout Ratio 88.1% 80.9% 82.6% 95.0% 86.4% 85.7%

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Strong Balance Sheet & Liquidity Position

As of March 31: 2015 2014 Total Debt to GBV 50.8% 52.4% Weighted Average Effective Interest Rate 3.8% 4.0% Weighted Average Mortgage Term-to-Maturity 5.7 yrs 6.5 yrs Interest Coverage Ratio 3.3x 3.2x Fixed Charge Coverage Ratio 2.9x 2.7x

$46.5 million equity offering in Q1 2015

Location: Southeastern submarket of Memphis, TN Six Institutional Quality, Class A distribution properties 24-32 foot clear ceiling heights Ample parking and large, flexible truck courts 2,327,018 square foot portfolio, 100% leased to 11 tenants Portfolio includes excess land that allows for building expansion or new development opportunities.

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Highlights

Southeast Submarket

Memphis, TN

GLA: 2,327,018 sq. ft. Ceiling height: 24-32 feet

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Strategically Located in Key Distribution Markets Properties

15.1M

sq. ft. of GLA

48

Current Portfolio

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State-of-the-Art Warehouse and Distribution Properties

Institutional-Quality Portfolio

1. As of March 31, 2015 2. Industrial assets only

Average Clear Ceiling Heights

Average Asset Age Average Tenant Size

31 feet 13 Years 195,000 Sq. Ft.

Average Building Size

321,000 Sq. Ft.

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Staggered Lease Maturity Profile*

Opportunities starting in 2016 to roll rents to market Weighted Average Remaining Lease Term

4.2 years

*As of March 31, 2015

Leases expiring 5 19 14 16 10 11 6 3 7

2.2% 16.3% 20.3% 17.2% 6.7% 17.8% 3.5% 2.4% 13.6% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 2015 2016 2017 2018 2019 2020 2021 2022 2023 +

Lease Expiration (% of GLA) by Year

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Stable and Diversified Tenant Mix

High-Quality Tenant Base

Top 10 Industrial Tenants*

*As of March 31, 2015

Tenant GLA Occupied (%) of Total Portfolio GLA Remaining Lease Term (Years) Sector General Mills 1,512,552 10.02% 5.17 Consumer Products Unilever 1,262,648 8.36% 8.25 Consumer Products Honeywell 754,000 4.99% 3.76 Consumer Products OSP Group 741,092 4.91% 1.42 Online Retailer Zulily 737,471 4.88% 2.17 Online Retailer United Stationers 654,080 4.33% 2.34 Consumer Products CEVA Logistics 648,750 4.30% 1.17 Logistics Amazon.com 572,000 3.79% 4.34 Online Retailer Ebay 543,512 3.60% 2.08 Online Retailer Life Science Logistics 394,200 2.61% 5.25 Healthcare 7,820,305 51.80% 4.05

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US Distribution Market Update

7515 Hartman Industrial Way Atlanta, Georgia

GLA: 113,700 sq. ft. Ceiling height: 28 feet

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Increasing Demand for Warehouse and Distribution Space

Strong Market Fundamentals

Substantial E-commerce supply chain growth is driving significant demand for state-of-the-art distribution buildings Non-discretionary household goods drives demand and provides stability Sector is benefitting from US economic recovery Build-to-suit & speculative development activity is occurring Significant tenant investment in properties

1 2 3 4 5

100 West Thomas P Echols Drive

Louisville, KY

GLA: 936,000 sq. ft. Ceiling height: 32 feet

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Demand for Bigger Buildings

Significant Opportunity to Build Unitholder Value

Distribution sector continues to grow in size and scale
The average footprint of distribution buildings has been

steadily increasing.

As of Q1 2015, Cushman & Wakefield expect demand

for class A logistics product to remain strong and will continue to fuel the rapid increase of “ big-box” development in key distribution markets.

Both build-to-suit and speculative development of

buildings over 1 million square feet are on the rise. New state-of-the-art distribution facilities are in demand evidenced by significant development activity in Indianapolis, Atlanta, Dallas, Chicago and the Inland Empire.

E-commerce demand accounts for 33% of leases for

spaces greater than 200,000 square feet.

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Proven Growth Strategies

Dynamic Management Team Delivering Growth & Results

Internal Growth:

Contractual rent increases
Rolling rents to market upon renewals
Increased occupancies
Effective asset & property management
Strategic debt placement & refinancing

External Growth:

Strong established acquisition team
Extensive institutional relationships
Proven track record of sourcing,

completing and integrating acquisitions

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Cash distributions in $US with enhanced yields as $US strengthens

Relative Performance since April 2013 IPO

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ANNUAL UNITHOLDERS’ MEETING

May 14, 2015