Prologis Property Mexico, S.a. De C.v. · BMV:FIBRAPL/14
Prologis Property Mexico, S.a. De C.v — Fibra Prologis Reit Ctfs — Q1 2025 Earnings Presentation
31 slides from Prologis Property Mexico, S.a. De C.v's earnings presentation, Apr 30, 2025
Slide 1: Investor Presentation
Investor Presentation February 2025 Tres Rios, Mexico City
Slide 2: Forward-looking statements / Non-Solicitation
INVESTOR PRESENTATION Forward-looking statements / Non-Solicitation This presentation includes certain terms and non-IFRS financial measures that are not that our expectations will be attained and therefore, actual outcomes and results may specifically defined herein. These terms and financial measu
Slide 3: Harnessing Mexico's logistics real estate potential
Harnessing Mexico's logistics real estate potential
Slide 4: E-commerce demand growth
INVESTOR PRESENTATION E-commerce demand growth E-commerce requires 3x the logistics space of brick and mortar retail Mexico e-commerce sales Mexico e-commerce sales & share of retail sales US$mn, annual US$mn, 2023 FX, annual 100,000 100,000 20% 90,000 90,000 18% 80,000 80,000 16% 25% growth 70,000
Slide 5: Mexico's consumer growth outpaces the U.S.
INVESTOR PRESENTATION Mexico’s Consumer households, 2024 y/y no. of (in millions) consumer growth outpaces the U.S U.S. Tijuana Reynosa Monterrey Mexico City Juarez Guadalajara 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% Prologis Internal Data, December 2024 5
Slide 6: Manufacturing demand growth
INVESTOR PRESENTATION Manufacturing demand growth Mexico capital formation - machinery and equipment U.S. import volumes1, 2019 vs. current volume index; base 100:2018 $B 130 1000 120 800 110 100 600 90 400 80 200 70 60 0 China Asia x China Europe Canada Mexico 2011 2012 2013 2014 2015 2016 2017 201
Slide 7: Long-term rental and value growth
INVESTOR PRESENTATION Long-term rental and value growth Market rent FIBRAPL capital value growth $/SF/year, effective rent $/SF 10.00 140 9.00 120 8.00 100 7.00 80 6.00 60 5.00 40 4.00 20 3.00 0 2013 14 15 16 17 18 19 20 21 22 23 24 17 18 19 20 21 22 23 24 7 Source: Prologis Research, Fibra Prologis
Slide 8: Shaping the future of logistics real estate: FIBRA Prologis
Shaping the future of logistics real estate: FIBRA Prologis
Slide 9: FIBRA Prologis: The market leader in Mexican industrial real estate
INVESTOR PRESENTATION Assets under US$9.0B management1 FIBRA Prologis: The market leader +280% Total return since IPO in Mexican industrial real estate 2024 annual net US$384M operating income Financial BBB+/BBB+/BBB strength and stability 345 buildings2 And 357 customers Backed by global expertise
Slide 10: A focused investment strategy
INVESTOR PRESENTATION A focused investment Focused on the top consumption and manufacturing markets strategy 6 Markets Ciudad Juarez 12.5 MSF FIBRA Prologis 94.4% Occupancy 98.3% Period End Occupancy1 Terrafina Reynosa 98.1% Average Occupancy1 5.6 MSF 97.7% Occupancy Tijuana 65.5 Million Square Feet
Slide 11: A diversified customer base
INVESTOR PRESENTATION Customers by industry % NER basis Multicustomer 3PL 21.1% A diversified customer Electronics Retailer 10.4% 16.9% base Auto Parts Goods 9.4% 14.5% Industrial 7.6% Healthcare 6.9% 357 519 Packaging Paper 6.6% Home Goods 4.8% Apparel 1.8% Customers1 Leases Customer mix 22.4% 71.2
Slide 12: An industry-leading balance sheet
INVESTOR PRESENTATION An industry-leading balance sheet Loan to Value Debt / Adjusted-EBITDA Fixed Charge Coverage Ratio 23.3% 5.3x 3.9x Weighted Average Liquidity1 Weighted Average Interest Rate Remaining Maturity 4.9% US $785M 3.8Yrs Data as of December 31, 2024. Note: Terrafina and Fibra Prologis
Slide 13: World class corporate governance
INVESTOR PRESENTATION World class corporate Prologis owns 35% of FIBRA Prologis, demonstrating alignment with certificate holders governance Diverse and experienced technical committee1 Gender Tenure Prologis member, 45% Independent, 55% Deborah Carter Joseph Armando Edward S. 4 yrs Women Briones An
Slide 14: A sponsor future-focused for investors
INVESTOR PRESENTATION A sponsor future-focused for investors Investor Platform presentation Public REITs Asset management New frontiers Largest global owner of Largest by market Leading global logistics- logistics real estate cap in the world focused asset manager > Sustainable energy Solar, storage
Slide 15: Ambitious net zero goals
INVESTOR PRESENTATION Ambitious net zero goals Committed to Deploy 1 GW of net zero and launched onsite solar key partnerships supported by storage Submitted target to Science Based Targets Carbon neutral Net zero for Net zero for initiative for validation for construction operations value chain and
Slide 16: Capturing today's unique growth opportunity
Capturing today's unique growth opportunity
Slide 17: Strong embedded growth potential
INVESTOR PRESENTATION Lease expiry profile by GLA & average in-place rent Strong embedded growth potential 48.8% Market rent spread to in-place2 12.00 30% $10.93 $11.31 $10.56 Portfolio statistics $10.20 $9.76 $9.86 10.00 25% Avg in Place Rent per Sq Ft $6.56 Avg Market Rent per Sq Ft $9.76 8.00 20%
Slide 18: FIBRA to grow 36+% in 4 years
INVESTOR PRESENTATION FIBRA to grow 36+% in 4 years External growth via Prologis development pipeline MSF1 89.0 Prologis and FIBRAPL 70.1 18.9 development pipeline Terrafina3 Prologis4 Land Bank & GLA (MSF) % Leased New Land Dev Expansion FIBRA Prologis Portfolio Terrafina Hold Portfolio 3 Devs Rese
Slide 19: Dislocated valuation
INVESTOR PRESENTATION Dislocated valuation Historical Premium/ Discount to Consensus NAV Total return of CBFIS % Mexican Pesos, June 4, 2014 — December 31, 2024 40% 30% 20% 10% 0% 280% -10% -20% 96% -30% 2018 2019 2020 2021 2022 2023 2024 FIBRAPL FIBRA Index 19 1. Source: FactSet as of December 31,
Slide 20: Appendix
Appendix
Slide 21: Mexico logistics real estate fundamentals
INVESTOR PRESENTATION Mexico logistics real estate Market vacancy2 of 3.6% as of 4Q24, up 130bps vs. 1Q but well below the 5.3% fundamentals1 10-year average. The increase in vacancy has been mostly Demand (T12M) vs supply pipeline Demand vs supply Vacancy2 felt in the border markets as manufacturin
Slide 22: FIBRA Prologis strong financial position (excluding Terrafina)
INVESTOR PRESENTATION FIBRA Prologis strong financial position (excluding Terrafina) BBB+/BBB+/BBB rated by S&P/HR Ratings/Fitch1 Debt metrics 4Q2024 Debt maturity schedule Total debt $1,161M USD$ in millions Wtd avg rate 4.4% 95 Secured Debt Unsecured Debt LOC USD denominated 100% $10 Wtd avg term
Slide 23: Terrafina's financial position
INVESTOR PRESENTATION Terrafina's financial position BBB/BBB/Baa3 rated by S&P/Fitch / Moodys1 Debt metrics 4Q2024 Debt maturity schedule Total debt $1,098M USD$ in millions Secured Debt Unsecured Debt LOC Wtd avg rate 5.6% $1 USD denominated 100% Wtd avg term 2.8 yrs Available liquidity USD2 $328M
Slide 24: 2025 Guidance
INVESTOR PRESENTATION 2025 Guidance US Dollars in thousands except per CBFI amounts FX = Ps$20.5 per US$1.00 Financial performance Low High Full year FFO, as modified by FIBRA Prologis, per CBFI (excludes incentive fees) $0.2000 $0.220 Operations Year-end occupancy 96.5% 98.5% Same store cash NOI ch
Slide 25: Creating value for certificate holders
INVESTOR PRESENTATION Creating value for certificate holders FIBRAPL distributions per CBFI & AFFO payout ratio USD$, % $0.25 0.2229 $0.20 0.0856 0.1500 $0.15 0.1410 0.1182 0.1240 0.1240 0.1200 0.1100 0.1075 0.1373 0.1000 0.0990 $0.10 0.07562 $0.05 101% 91% 94% 94% 95% 97% 81% 80% 85% 147% 94% $0.00
Slide 26: Historical growth
INVESTOR PRESENTATION Historical growth NOI growth Adjusted EBITDA growth USD, M USD, M 420 360 360 300 300 240 240 180 180 120 120 60 60 0 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2015 2016 2017 2018 2019 2020 2020 2022 2023 2024 FFO growth AFFO growth USD, M USD, M 300 300 250 200 200 1
Slide 27: Portfolio growth since IPO
INVESTOR PRESENTATION Portfolio growth since IPO Gross leasable area1 SF (in Thousands), June 4, 2014 — December 31, 2024 73,000 65,000 57,000 49,000 41,000 33,000 25,000 IPO 4Q 2014 4Q 2015 4Q 2016 4Q 2017 4Q 2018 4Q 2019 4Q 2020 4Q 2021 4Q 2022 4Q 2023 4Q 2024 Real estate portfolio 2,3,4 USD (in T
Slide 28: Fee structure
INVESTOR PRESENTATION Fee structure Transparent and aligned Fee Type Calculation Payment Frequency Operating Fees Property Management 3% x collected revenues Monthly Leasing Commission New leases: 5% x lease value for <6 yrs; 2.5% x lease value for 6-10 yrs; 1.25% x ½ at closing lease value for > 10
Slide 29: Fee structure
INVESTOR PRESENTATION Fee structure Aligned with the market G&A and administration fees annualized paid YTD FIBRAPL + Terra (new structure) FIBRA MQ FUNO FIBRA Mty Vesta Administration / Management Fees1 56 15 57 - - Prof Fees + Other G&A 9 7 124 12 34 Payroll - - - 9 - Total G&A (US$ M) 65 21 181 2
Slide 30: Strategic acquisition of Prologis completed April 2020
INVESTOR PRESENTATION Strategic acquisition of Prologis completed April 2020 B-6 B-7 B-5 B-4 Prologis Park Grande B-8 Location: Mexico City B-3 Land size: 212.3 acres, 9.3 MSF GLA: 3.9 MSF B-2 100% leased 1.0 MSF B-1 1.0 MSF Unique competitive advantage – State of the art logistics park focused on e
Slide 31: FIBRA
FIBRA €*; PROLOGIS
Fibra Prologis Reit Ctfs — Q1 2025 Earnings Presentation on 6ix