H&r Real Estate Investment Trust · TSX:HR.UN
H&r Real Estate Investment Trust — Investor Presentation (August 2026)
34 slides from H&r Real Estate Investment Trust's investor presentation, August 2026
Slide 1: Repositioned for Growth
REPOSITIONED FOR GROWTH INVESTOR PRESENTATION August 2026 1
Slide 2: Caution Regarding Forward-Looking Statements
CAUTION FORWARD-LOOKING STATEMENTS Certain statements made in this presentation will contain forward‐looking information within the meaning of applicable securities laws (also known as forward‐looking statements) including, among others, statements made or implied relating to H&R Real Estate Investm
Slide 3: Table of Contents
Transformational Strategic TABLE OF Repositioning Plan 4 CONTENTS Independent Board of Trustees and Senior Leadership Team 9 Portfolio Overview 12 Strong and Flexible Balance Sheet 18 Investment Proposition 21 Developments 23 Environmental • Social • Governance 31 3
Slide 4: Transformational Strategic Repositioning Plan
TRANSFORMATIONAL STRATEGIC REPOSITIONING PLAN 4
Slide 5: Significant Progress Since June 30, 2021
SIGNIFICANT PROGRESS SINCE JUNE 30, 2021 1 SIMPLIFIED BUSINESS. STRENGTHENED BALANCE SHEET. MOVING H&R TOWARDS HIGHER GROWTH OVER $2.6 BILLION OF PRIMARIS REIT $3.6 BILLION OF DEBT3 GROWTH IN NON-STRATEGIC SPINOUT WITH H&R $1.5 BILLION OF REPAID, RESIDENTIAL AND OFFICE & RETAIL CONTRIBUTING 27 RETAI
Slide 6: Repositioning Underway
REPOSITIONING UNDERWAY WITH ASSET ALLOCATION SHIFTING TOWARDS HIGHER GROWTH ASSET CLASSES REAL ESTATE ASSETS (Fair Value) 1 June 30, 20212 June 30, 20263 Retail Office 4% 10% Retail Residential 29% 25% Industrial 20% Industrial 9% Residential 66% Office 37% 1. At the REIT’s proportionate share, excl
Slide 7: Streamlining the Portfolio
STREAMLINING THE PORTFOLIO AND ALIGNING FOR BETTER RESULTS AND HIGHER GROWTH F IN A NCIA L H IGHLIGH TS O P E R A TIONA L H IG H LIG HTS • $2.3 billion in assets sold and under contract to be sold for the six months • 91.2% occupancy ended June 30, 2026, at the REIT’s proportionate share • $106.9 mi
Slide 8: Enhanced Balance Sheet Supporting Growth
ENHANCED BALANCE SHEET SUPPORTING GROWTH CREATE FLEXIBILITY AND MAINTAIN INVESTMENT–GRADE CREDIT RATING Key Metrics June 30, 2021 June 30, 2026 Positive Impact Reduce Leverage – Debt to Total Assets at the REIT’s proportionate share1,2 50.0% 41.8% Debt to Adjusted EBITDA at the REIT’s proportionate
Slide 9: Independent Board of Trustees and Senior Leadership Team
INDEPENDENT BOARD OF TRUSTEES AND SENIOR LEADERSHIP TEAM 9
Slide 10: Board Renewal and Refreshment
BOARD RENEWAL AND REFRESHMENT STRONG AND SKILLFUL BOARD WITH UNITHOLDER ALIGNMENT Committees Trustee Board Member & Experience Independent Since Compensation, Audit Investment ESG & Nominating Lindsay Brand • Chief Investment Officer of Concert Properties • Former Chief Investment Officer of Dream U
Slide 11: Experienced and Tenured Executive Team
H&R REIT AND LANTOWER RESIDENTIAL EXPERIENCED AND TENURED EXECUTIVE TEAM TOM HOFSTEDTER LARRY FROOM ROBYN KESTENBERG CHERYL FRIED BLAIR KUNDELL Executive Chairman & CEO CFO EVP, Office & Industrial EVP, Finance EVP, Operations H&R REIT H&R REIT H&R REIT H&R REIT H&R REIT EMILY WATSON COLLEEN GRAHN H
Slide 12: Portfolio Overview
PORTFOLIO OVERVIEW 12
Slide 13: Portfolio Overview
PORTFOLIO OVERVIEW WELL LOCATED PROPERTIES IN STRONG MARKETS LEASED TO INVESTMENT-GRADE TENANTS WITH LONG WEIGHTED AVERAGE LEASE TERMS $6.9B1 Fair Value of Real Estate Assets Retail $0.3B Office $0.7B Industrial $1.4B Residential $4.5B 205 SPEIRS GIFFEN AVE. JACKSON PARK RIVER LANDING CALEDON, ON LO
Slide 14: Residential
26 LANTOWER RESIDENTIAL 1 Number of Properties PRIME INCOME-PRODUCING RESIDENTIAL PROPERTIES WITH ATTRACTIVE GROWTH CHARACTERISTICS $3.8B Fair Value2 R E S I D E N T I A L F A I R V A L U E 1,2 S A M E - P R O P E R T Y N O I ( C A S H B A S I S ) 1,2,3 4.73% Weighted Average by Geography by Geograp
Slide 15: Residential
LANTOWER RESIDENTIAL 1 PRIME INCOME-PRODUCING RESIDENTIAL PROPERTIES WITH ATTRACTIVE GROWTH CHARACTERISTICS June 30, 2026 June 30, 2025 Number of Weighted average Number of Weighted average Number of residential monthly rent per Number of residential monthly rent per Region properties rental units o
Slide 16: Industrial
68 HIGH-QUALITY DISTRIBUTION FACILITIES Number of Properties LOCATED IN KEY INDUSTRIAL MARKETS 1 8.5M Square feet 58% % of Industrial Number of REIT Owned Avg Lease Portfolio Square Feet Tenant Rentals Locations sq.ft. (in 000s) TTM (Years) located in the GTA 1 Canadian Tire Corporation 19.6% 2 2,10
Slide 17: Office
12 HIGH-QUALITY OFFICE PORTFOLIO 1 Number of Properties 3.4M Square feet OFFICE FAIR V A L U E 1,2 • High-quality office properties located in Properties by Geographic Region strong major centres $0.9B Fair Value2 • 80.5% of revenue from investment-grade Other Gateway U.S. Canada rated tenants 9.07%
Slide 18: Strong and Flexible Balance Sheet
STRONG AND FLEXIBLE BALANCE SHEET 18
Slide 19: Maintain a Strong and Flexible Balance Sheet with Investment-Grade Rating
BBB MAINTAIN A STRONG AND FLEXIBLE BALANCE SHEET by DBRS WITH AN INVESTMENT-GRADE CREDIT RATING $3.3B Unencumbered Assets Debt to Total Assets 7.1x Debt to Adjusted Mortgages at the REIT’s Proportionate Share1,2 EBITDA at the REIT’s 18% proportionate share1,2,3 Senior $703.2M Unitholders’ $6.9B Unse
Slide 20: Debt Maturity Schedule
DEBT MATURITY SCHEDULE $1,600 $1,400 $1,200 Unsecured Debt3 41% $1,000 In millions $ $800 Secured Debt2 $600 59% $400 $200 $0 1 2026 2027 2028 2029 2030 Mortgages Unsecured Debentures Unsecured Term Loans Lines of Credit 1. For the balance of the year. 2. Secured debt includes mortgages payable and
Slide 21: Investment Proposition
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Slide 22: Management Committed to Surfacing Value for Unitholders
MANAGEMENT COMMITTED TO SURFACING VALUE FOR UNITHOLDERS ACCELERATING SAME-PROPERTY NET OPERATING INCOME (CASH BASIS)¹ GROWTH $16.23 INCREASING EXPOSURE $10.98 TO HIGH GROWTH RESIDENTIAL VALUE CREATION THROUGH REZONING STRONG BOARD AND Unit Price² NAV per Unit¹ MANAGEMENT ALIGNMENT 1. This is a non-G
Slide 23: Developments
DEVELOPMENTS 23
Slide 24: Recently Completed Developments
RECENTLY COMPLETED DEVELOPMENTS INDUSTRIAL 600 Slate Dr. 560 Slate Dr. 6900 Maritz Dr. MISSISSAUGA, ON MISSISSAUGA, ON MISSISSAUGA, ON COMPLETED: Q2 2026 COMPLETED: Q2 2026 COMPLETED: Q2 2025 312,218 square feet of industrial space (100% level) 162,395 square feet of industrial space (100% level) 12
Slide 25: Lantower Residential Development Pipeline
LANTOWER RESIDENTIAL DEVELOPMENT PIPELINE – U.S. SUN BELT STATES 1 SITE NAME MARKET STATUS START DATE # OF ACRES # OF SUITES Bayside2 Tampa, FL Under Const./Lease-Up Q2 2024 2.4 79 Sunrise Phase I2 Orlando, FL Under Const./Lease-Up Q2 2024 5.0 96 CityLine Phase I Dallas, TX Shovel Ready TBD 3.7 295
Slide 26: Lantower Sunrise
Location LANTOWER RESIDENTIAL 4865 Big Pine Loop Kissimmee, FL LANTOWER SUNRISE1 H&R Ownership 4865 Big Pine Loop, Kissimmee, FL Interest 29.1% Stage PROGRESS UPDATES Under Construction/ Lease-Up All Temporary Certificates of Occupancy (“TCO”) have been received # of Suites 330 All units (Buildings
Slide 27: Project Photos – Lantower Sunrise
PROJECT PHOTOS LANTOWER SUNRISE RESIDENTIAL 27
Slide 28: Lantower Bayside
Location LANTOWER RESIDENTIAL 16485 Hwy. 19 N. Largo, FL LANTOWER BAYSIDE 1 H&R Ownership 16485 Hwy. 19 N., Largo, FL Interest 29.1% Stage PROGRESS UPDATES Under Construction/ Lease-Up All Temporary Certificates of Occupancy (“TCO”) have been received # of Suites 271 All units have been accepted # o
Slide 29: Project Photos – Lantower Bayside
PROJECT PHOTOS LANTOWER BAYSIDE RESIDENTIAL 29
Slide 30: Lantower Residential Current Developments – Elio
Location LANTOWER RESIDENTIAL 4th St. & Cabrillo Park Dr. Santa Ana, CA CURRENT DEVELOPMENTS H&R Ownership Elio 1 Interest 50% PROGRESS UPDATES Stage Construction commenced in September 2025 Under Construction Residential foundation pad poured in August with pool vault pour # of Suites scheduled for
Slide 31: Environmental • Social • Governance
ENVIRONMENTAL • SOCIAL • GOVERNANCE 31
Slide 32: Our Approach to Sustainability
OUR APPROACH TO SUSTAINABILITY STRATEGIC PLANNING DEVELOPMENT & REZONING In line with our strategic planning Sustainability goals are established for our assets processes, H&R REIT’s Executive team that are selected for renovation or identifies and assesses material redevelopment. Green building cer
Slide 33: Sustainability Highlights
SUSTAINABILITY HIGHLIGHTS 1 +2.6% H&R REIT’s like-for-like energy use increased by CLIMATE AND DIVERSITY AND GOVERNANCE 2.6% in 2024 compared to 2023. RESOURCE INCLUSION PRACTICES EFFICIENCY • 43% of the Board of • Tenure for all new Trustees • Utility consumption and Trustees are female is limited
Slide 34: HR.UN - TSX
HR.UN - TSX Ticker For further information contact: Tom Hofstedter, Chief Executive Officer 1-416-635-7520 Cheryl Fried, Interim Chief Financial Officer 1-416-635-7520 info@hr-reit.com Additional information regarding H&R REIT is available at www.hr-reit.com and on www.sedar.com. 34 34
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