Granite Real Estate Investment Trust · TSX:GRT.UN
Granite Real Estate Investment Trust — Shareholder Meeting (June 2022)
16 slides from Granite Real Estate Investment Trust's shareholder meeting presentation, Jun 9, 2022
Slide 1: Joint Annual General and Special Meetings, June 9, 2022
Joint Annual General and Special Meetings of Granite Real Estate Investment Trust and Granite REIT Inc. | June 9, 2022
Slide 2: Presentation of Certain Information
PRESENTATION OF CERTAIN INFORMATION • Unless otherwise indicated in this presentation, all information is presented as of December 31, 2021 and all financial information that is identified as current refers to the period ending December 31, 2021. For definitions of certain non-IFRS performance measu
Slide 3: Granite Highlights
GRANITE HIGHLIGHTS (as at December 31, 2021)2 ORGANIZATIONAL PRINCIPLES PORTFOLIO OVERVIEW FINANCIAL PERFORMANCE 122 income-producing properties + 80% LTM AFFO POR3 Long-term total return focused 12 development properties/land GRT.UN Conservative and flexible capital 55.9M square feet with 40% Total
Slide 4: 2021 Corporate Objectives Recap
2021 CORPORATE OBJECTIVES RECAP1 Pursue development Drive NAV, FFO2 & Preserve Safe return-to-work Increase scale in Enhanced ESG and expansion AFFO2 growth conservative capital protocol & expanded target markets program opportunities structure global platform 7.7M SF acquired for $463M/4.6M SF unde
Slide 5: 2021 Major Milestones
2021 MAJOR MILESTONES1 Strategic Allocation of Capital $390M of $1.1B of acquisitions $303M in net $500M in unsecured Net leverage ratio2 development across core markets proceeds from an debt from second $73M generated of 26% providing commitments (5M in Canada, USA and equity offering, plus Green B
Slide 6: ESG Commitment
ESG COMMITMENT ENVIRONMENTAL SOCIAL GOVERNANCE 10%+ of maintenance capex Over $100K & 316 volunteer hours 100% independent Board allocated to eligible green projects contributed to charities excluding CEO 33.7M SF with LED lighting Emotional and Family Support: Robust governance policies Employee an
Slide 7: Commitment to Green Investments
COMMITMENT TO GREEN INVESTMENTS Development in progress of a Green Building in Acquisition of LEED Silver certified Green Building in Altbach Germany Antioch, Illinois, USA Development in progress of two Green Expansion in progress of a Green Building in Development in progress of a Green Building i
Slide 8: GRT 2021 Performance
GRT 2021 PERFORMANCE Total Return vs TSX Composite & TSX Capped REIT Indices 50.0% 40% Total Return in 2021 40.0% 30.0% 20.0% 10.0% 0.0% -10.0% Granite REIT TSX Capped REIT Index TSX Composite Index Granite’s total return exceeded the Index returns once again in 2021 June 2022 8 • Total return data
Slide 9: GRT Historical Performance
GRT HISTORICAL PERFORMANCE Total Return vs TSX Composite & TSX Capped REIT Indices Cumulative Total Return % Annualized Total Return % 450% COVID-19 200% 425% 400% 180% 375% 350% 160% 325% 300% 140% 275% 250% 120% 225% 200% 100% 175% 150% 80% 125% 60% 100% 75% 40% 50% 25% 20% 0% 0% 1Yr 2Yr 3Yr 5Yr G
Slide 10: 2022 Corporate Objectives & Q1 Update
2022 CORPORATE OBJECTIVES & Q1 UPDATE1 Acquisitions Organic Growth $334M in announced acquisitions YTD Q1 2022 Constant currency SPNOI2 y-o-y growth of 4.6% Development & Expansion Preserve Conservative Capital $640M in construction commitments Structure across 10 projects, adding 5.5M SF Clayton, I
Slide 11: Leadership Team
LEADERSHIP TEAM Kevan Gorrie Teresa Neto Lorne Kumer Michael Ramparas President and Chief Executive Officer Chief Financial Officer Executive Vice President, Executive Vice President, Global Head of Global Real Estate Real Estate & Head of Investments Witsard Schaper Lawrence Clarfield Jon Sorg Seni
Slide 12: Thank You
THANK YOU INVESTOR RELATIONS CONTACT Andrea Sanelli Associate Director, Legal & Investor Services T: 647.925.7504 E: ir@granitereit.com June 2022 12
Slide 13: Appendix: Non-IFRS Performance Measures
APPENDIX The following non-IFRS performance measures and non-IFRS ratios are important measures used by management in evaluating the Trust’s underlying operating performance and debt management. These non-IFRS performance measures and non-IFRS ratios are not defined by IFRS and do not have standar
Slide 14: B) Non-IFRS Ratios
Same property net operating income - cash basis Same property NOI - cash basis refers to the NOI - cash basis for those properties owned by Granite throughout the entire current and prior year periods under comparison. Same property NOI - cash basis excludes properties that were acquired, disposed o
Slide 15: C) Subsequent Events Applicable to Dec 31, 2021
Interest coverage ratio The interest coverage ratio is calculated on a 12-month trailing basis using Adjusted EBITDA (a non-IFRS performance measure) divided by net interest expense. Granite believes the interest coverage ratio is useful in evaluating the Trust’s ability to meet its interest expense
Slide 16: D) Subsequent Events Applicable to March 31, 2022
D) SUBSEQUENT EVENTS APPLICABLE TO MARCH 31, 2022 On April 14, 2022, Granite acquired two newly constructed modern distribution facilities, comprising of approximately 1.4 million square feet in the southwest submarket of Indianapolis, Indiana for $179.1 million (US$141.8 million). The properties
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