Digital Core REIT (DCRU) Investor Presentation summary

Business and operational highlights

• Achieved 20% year-over-year AUM growth to $1.6 billion, driven by robust leasing and market rent increases across a global portfolio of 10 data centers in key metros in the US, Canada, Germany, and Japan.

• Strengthened balance sheet with $280 million from asset sales and equity fundraising, doubling weighted-average debt maturity to 4.8 years and maintaining 97% occupancy.

• Invested over $250 million to increase stakes in Frankfurt and Osaka, enhancing scale, diversification, and portfolio quality.

• Repurchased 27 million units at an average price of $0.576, resulting in 1.8% DPU accretion.

• Aggregate leverage at 34% with $540 million debt headroom, supporting future growth initiatives.

Market and portfolio update

• FY2024 saw 5,421 leasing activity and $74 million in annualized rent from new and renewal leases, with a 4.3% cash rental reversion.

• Record low vacancies across core global markets, with Northern Virginia under 1% vacancy and 5.4 GW of capacity.

• AI and digital transformation are accelerating data center demand, with AI hyperscale workloads expected to grow 3.5x from 2023 to 2030.

• Portfolio comprises 97% occupancy, 4.8-year WALE, and is diversified across metros and property types, with 85% of annualized rent from freehold assets.

• Top 10 customers account for 81% of annualized rent, with high credit quality and strategic importance.

Financial overview

• FY2024 revenue was $102.3 million, with net property income of $61.8 million and distributable income to unitholders of $46.0 million, up 10.9% year-over-year.

• Distribution per unit for FY2024 was 3.60 US cents, with a closing unit price of $0.580 and a distribution yield of 6.21%.

• Net asset value per unit increased 14.5% to $0.79, with total assets up 33.5% to $2.01 billion.

• Aggregate leverage at 34%, average cost of debt at 3.9%, and interest coverage ratio at 3.6x, with 86% of debt fixed and weighted average maturity of 4.7 years.

• Significant debt capacity and flexibility to support future growth, with $552 million total debt outstanding.