Mreit, Inc. · PSE:MREIT
Mreit — Q1 2026 Earnings Presentation
12 slides from Mreit's earnings presentation, Apr 30, 2026
Slide 1: 1Q2026 Analysts' Briefing
1Q2026 ANALYSTS’BRIEFING APRIL30,2026
Slide 2: Market Update
MARKET UPDATE MARKET DEMAND 178,300 sqm • CBRE reported that the overall office #1 MARKET demand in the Philippines reached SHARE 178,300 sqm in 1Q2026, a 19% increase 18% (MEG) from 156,000 sqm in 1Q2025. 38% • The vacancy rate in Metro Manila (Boutique) improved to 19.5% in 1Q2026 from 20.3% in 4Q
Slide 3: Operating Highlights
OPERATING HIGHLIGHTS TENANT MIX HYBRID GCCs VOICE 34% 30% 21% 14% 6% TENANT 5% TRADITIONAL RETAIL HOTEL BREAKDOWN 5% 11% 3% 1% 56% (by GLA) 3% 90% 3% 2% OCCUPANCY RATE 2% 3.08 Years 2% 2% WALE 39,000 TOP 10 TENANTS (44%) TOTAL TRANSACTIONS
Slide 4: Financial Performance
FINANCIAL PERFORMANCE In PHP millions 1Q2026 1Q2025 YoY% Revenues 1,723 1,341 29% Direct Operating Costs (284) (252) 13% RENTAL INCOME VS. Gen. & Admin. Expense (33) (12) 177% DISTRIBUTABLE INCOME Net Operating Income 1,405 1,076 31% Interest & Other Income 5 19 -73% 1,279 1,252 Interest Expenses (1
Slide 5: Dividend Declaration
DIVIDEND DECLARATION DIVIDEND PER SHARE DIVIDEND YIELD PHP 0.2630 7.6% WAVE 4 CONTRIBUTION +5% 0.2630 0.2505 0.25047 0.25048 0.25048 0.25048 0.2476 0.2476 0.2474 0.2489 0.2468 0.2444 0.2460 0.2460 0.2460 0.2430 0.2428 0.2400 0.2399 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q2
Slide 6: Strong Track Record of Expansion
STRONG TRACK RECORD OF EXPANSION ASSET UNDER MANAGEMENT AUM INCREASE SINCE IPO Following SEC approval of the McKinley Hill asset infusion, MREIT’s total GLA PHP 93 BILLION 88% increased by 34% to 647,000 sqm. 647k 482k 34% 325k 281k 48% 224k 16% 25% 1Q22 Wave 1 Wave 2 Wave 3 Wave 4
Slide 7: Our Target: One Million SQM GLA
OUR TARGET 750k ONE 482k 647k SQM GLA MILLION 224k SQM GLA SQM GLA SQM GLA SQM GLA IPO 2024 1H26 2H26 2027 with several mall assets MREIT has reached 647,000 sqm of GLA following its 1H2026 asset infusion, with a target of at least 750,000 sqm by 2H2026—accelerating its growth by three years and on
Slide 8: Large Pipeline for Growth
LARGE PIPELINE FOR GROWTH OFFICE GLA RETAIL GLA HOTEL (‘000 sqm) (‘000 sqm) (room keys) 89 157 914 3,672 490 615 26.6 149 MEG & Affiliates MREIT Portfolio MEG Pipeline Portfolio
Slide 9: MREIT Highlights
MREIT HIGHLIGHTS MREIT Inc. partners with e27 to establish a dynamic startup hub within McKinley Hill, creating a collaborative space for founders, investors, and innovators. The initiative marks a strategic step toward building an integrated innovation ecosystem within Megaworld townships, supporti
Slide 10: 2026 Annual Stockholders' Meeting
2026 ANNUAL STOCKHOLDERS’ MEETING ASM SCHEDULE Date: Friday, 29 May 2026 Time: 2:00 p.m. KEY RESOLUTION FOR INVESTORS Agenda Item 5: Issuance of up to 1.8B primary common shares for property-for-share swaps • Wave 5 target is at least 750k sqm — but the company is actively looking to do more, subjec
Slide 11: Our Takeaway
OUR TAKEAWAY • First-quarter distributable income rose a record 34% YoY to P1.25 billion, while revenues grew 29% to P1.7 billion, driven by the immediate accretion delivered by the Wave 4 acquisition. • MREIT declared a record P0.2630 dividend per share, up 5% quarter-on-quarter, the first time an
Slide 12: 1Q2026 Analysts' Briefing
1Q2026 ANALYSTS’BRIEFING APRIL30,2026