Americold Realty Trust (COLD) Investor presentation summary

Strategic positioning and growth drivers

• Operates a global network of 238 cold storage warehouses with 1.4B cubic feet capacity and 5.5M pallet positions, serving all major supply chain nodes.

• Holds 18% of the North American and 6% of the global cold storage market, with significant room for expansion in a fragmented industry.

• Growth strategy leverages scalable infrastructure, automation, and exclusive partnerships with industry leaders like DP World and CPKC.

• Focused on operational excellence, customer-centric solutions, and continuous innovation to capture rising demand from e-commerce and food sector trends.

• Strategic capital allocation supports organic growth, accretive acquisitions, and disciplined reinvestment.

Financial performance and outlook

• Achieved 34% Core EBITDA growth and 40% AFFO growth over the past three years, with LTM Q1 2025 Core EBITDA at $847M and AFFO at $411M.

• Same-store warehouse revenue grew 60% and NOI 69% since 2021, with fixed storage contracts now representing 60% of rent and storage revenues.

• Maintains strong EBITDA margins (23.8% LTM Q1 2025) through efficiency initiatives, technology investments, and workforce productivity.

• 2025 guidance projects stable same-store revenue, NOI growth, and AFFO per share between $1.42 and $1.52.

• Investment grade credit ratings and $651M in available liquidity provide financial flexibility for continued expansion.

Customer relationships and operational excellence

• Top 25 customers account for 52% of warehouse revenues, with an average tenure of 37 years and 96% on committed contracts.

• Delivers comprehensive value-added services, high food safety standards, and broad geographic reach, supporting customer retention and growth.

• Proprietary Americold Operating System (AOS) and advanced technology platforms drive process standardization, labor optimization, and service quality.

• Ongoing automation and digital transformation initiatives, including Project Orion and over 415 identified AI use cases, enhance efficiency and analytics.

• Industry-leading safety performance, with a 48% lower TRIR than the industry average.