INVESTOR PRESENTATION MAY 2013 1 Forward-Looking Statements - PowerPoint PPT Presentation

INVESTOR PRESENTATION MAY 2013 1

Forward-Looking Statements 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” or 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 operating 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 prospectus of the REIT dated April 18, 2013, the “Prospectus” 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 Prospectus. 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 Prospectus. All currency in U.S. dollars 2

Management Team Scott Frederiksen, CEO  CEO, Welsh Property Trust LLC  25 years with the Welsh organization Dennis Heieie, CFO  CFO, Welsh Property Trust LLC  15 years with the Welsh organization Matt Cimino, General Counsel  General Counsel, Welsh Property Trust LLC  6 years with the Welsh organization 40 Logistics Blvd. Cincinnati, Ohio  External counsel to Welsh prior to joining the company GLA: 543,500 sq. ft. Ceiling height: 32 feet 3

37 institutional-quality properties totalling 8.6M sq. ft. of GLA ONLY Canadian REIT Stable and diversified tenant base focused exclusively on U.S. industrial real estate Simple, tax-efficient structure Targeting Disciplined but Aggressive Growth 4

Investment Highlights 1 Focused on warehouse and distribution sub-segment of U.S. industrial real estate market 2 High-quality, stabilized and geographically diverse portfolio in major distribution markets 3 Aligned and experienced management and majority-independent board of trustees 4 Platform for accretive growth in a fragmented market 5 Attractive and stable yield 3003 Reeves Road Indianapolis, Indiana 6 GLA: 741,100 sq. ft. 90% AFFO Payout Ratio Ceiling height: 36 feet 5 5

The Opportunity 600 Hartman Industrial Crt. Atlanta, Georgia 6 GLA: 525,600 sq. ft. Ceiling height: 32 feet

Deep, Liquid Market with Attractive Relative Valuations Stock of Industrial Real Estate (Sq. Ft.) Industrial Sales Volumes ($B) Industrial Property Relative Valuations (%) $32 $31 120 100 110 $22 100 $17 90 82 Canada U.S. 80 12.9B 1.5B $9 70 $4 $3 $2 $2 60 $1 50 2008 2009 2010 2011 2012 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 United States Canada U.S. Canada Source: Cushman & Wakefield Source: Real Capital Analytics Source: International Property Databank Only 3% of U.S. industrial assets owned by REITs 1 1. Source: Grubb & Elllis Superior Growth Opportunities 7

Compelling Warehouse & Distribution Fundamentals  Triple-net leases  Less volatile demand  Low re-tenanting costs  High tenant retention  Significant growth opportunities Predictable and Stable Cash Flow 8

Distribution Trends Driving Growth  Substantial e-commerce growth  Increased outsourcing of distribution to third-party logistics providers  Increasing pressure to deliver goods quickly and cost effectively 2440-2450 Midpoint Dr. Kansas City, Kansas GLA: 225,000 sq. ft. Ceiling height: 30 feet Increasing Demand for Warehouse and Distribution Space 9

Portfolio Overview 7515 Hartman Industrial Way Atlanta, Georgia 10 GLA: 113,700 sq. ft. Ceiling height: 28 feet

Current Properties 37 Properties 8 .6M sq. ft. of GLA MAJOR RAIL INFRASTRUCTURE MAJOR INTERSTATE HIGHWAYS INITIAL PROPERTIES OTHER DISTRIBUTION MARKETS Strategically Located in Key Distribution Markets 11

1 Institutional-Quality Portfolio 31 feet Average Clear Ceiling Heights 12 Years Average Asset Age 10 6,0 0 0 Sq. Ft. Average Tenant Size 1. Industrial assets only State-of-the-Art Warehouse and Distribution Properties 12

Highly Diversified Portfolio Portfolio NOI by State 1 Tenant Sector by Base Rent Public KY Administration NC Transportation 6% MN 6% SC 2% & Logistics 17% 5% 17% IL 2% Services 22% Assembly and OEM OH Distribution 11% % 9% % IN FL 16% Finance, 2% Insurance & Real Estate 6% Wholesale GA Trade KS 16% 25% 12% Retail Trade WI MI 15% 7% 4% No State >17% of Forecast NOI 1 No Sector >25% of Base Rent 2 1. Projected for the 12-month period ending March 31, 2014 2. As at February 1, 2013 Risk Mitigation Through Diversification 13

High-Quality Tenant Base Top 10 Industrial Tenants GLA % of Remaining Occupied % of Annualized Lease Term Base Rent 2 Tenant (000 sq. ft.) GLA (years) Sector OSP Group / Redcats USA 741 8.6% 5.6% 3.6 Online Retailer 1 Zulily 738 8.6% 5.5% 4.3 Online Retailer GSI Commerce Solutions 1 544 6.3% 5.4% 4.3 Online Retailer KGP Logistics 311 3.6% 4.6% 5.9 Third Party Logistics Honeywell International 594 6.9% 4.0% 5.9 Consumer/Commercial Products Boise Building Solutions Distribution 155 1.8% 3.3% 9.6 Building Materials Keystone Automotive Distributors 351 4.1% 3.3% 4.3 Automotive Equipment Life Science Logistics 394 4.6% 3.2% 7.4 Third Party Logistics The StayWell Company 72 0.8% 2.5% 5.3 Health & Wellness Formica Corporation 289 3.4% 2.4% 1.5 Building Materials Totals / Average 4,188 48.7% 39.8% 4.8 1. GSI Commerce is a wholly owned subsidiary of ebay 2. As at February 1, 2013 Stable and Diversified Tenant Mix 14

Historic & Projected Occupancy 96.3% 96.3% 95.8% 96.1% 96.0% 95.2% 94.7% 94.7% 93.2% Weighted Average Occupancy 96.3 % 1 Mar Jun Sept Dec Mar Jun Sept Dec Mar 2012 2013F 2014F 1. As of February 1, 2013 1. As of February 1, 2013 Fully Stabilized Portfolio 15

Staggered Lease Maturity Profile 39.2% Weighted Average Remaining Lease Term 25.3% 5.0 years 20.5% 8.3% 4.0% 2.7% 2013 2014 2015 2016 2017 Thereafter Limited Near-Term Tenant Turnover 16

Case Study Indianapolis, IN 1105 E. Northfield Dr. Indianapolis, Indiana 17 GLA: 526,200 sq. ft. Ceiling height: 32 feet

C A S E S T U D Y Indianapolis, IN  One of the top distribution markets in U.S.  1 day drive to 45% of U.S. population  Convergence of 4 interstate highways  World’s 2 nd largest FedEx Hub 18

C A S E S T U D Y Indianapolis, IN 3003 Reeves Road, Plainfield, IN 1105 East Northfield Drive, Brownsburg, IN GLA: 741,100 sq. ft. GLA: 526,200 sq. ft. 6579 West 350 North, Greenfield, IN 1.9 M sq. ft. GLA: 629,200 sq. ft. Building Critical Mass in Select Distribution Markets 19