Dream Industrial Real Estate Investment Trust (DIR-UN) Investor presentation summary

Company and strategy

• Operates a $16B industrial platform with $7B in investment properties and $9B in private partnerships, spanning Canada and Europe.

• Focuses on modern, urban, and resilient industrial assets with built-in organic growth and strong mark-to-market rent potential.

• Maintains a diversified tenant base across logistics, light industrial, and distribution sectors, with top tenants including global logistics and retail leaders.

• Strategic growth pillars include development, intensification, private capital partnerships, and ancillary revenue streams such as solar and EV charging.

• Led by an experienced management team with regional and functional expertise.

Financial and operational performance

• Achieved 4.3% YoY FFO per unit growth and 6.4% YoY CP NOI growth in Q3 2025.

• Distribution yield stands at 5.9%, with a BBB High credit rating and 95.4% in-place and committed occupancy.

• Net total debt-to-total assets at 38.7%, with $6.2B in unencumbered investment properties and $828M in available liquidity.

• Completed over $107M in acquisitions and $25M in dispositions YTD 2025, with $150M more in the pipeline.

• Strong leasing momentum: 2.0M sf leased at a 28.2% average spread, with 1.7M sf of new lease negotiations underway.

Portfolio and growth drivers

• Owns and manages 73.2M sf of GLA, with a focus on urban logistics and light industrial assets in Canada and Europe.

• Urban portfolio offers a 12.4% mark-to-market rent spread; market rents exceed in-place rents by 19.9% in Canada and 3.9% in Europe.

• Lease maturities in Ontario and Québec present significant near-term organic growth opportunities due to large rent spreads.

• Maintains stable occupancy across all regions, with total portfolio occupancy at 95.4%.

• Case studies highlight successful value-add, redevelopment, and leasing strategies in key urban markets.