Slide 1: Modiv Investor Presentation November 2022
MODIV. INVESTOR PRESENTATION November 2022
Slide 2: Disclosure
DISCLOSURE MODIV't' Certain statements contained in this p ion and the accompanying oral p: 1, other than historical facts, may be considered forward-looking statements within the meaning of the Securities Act of 1933, as amended, Section 21E of the Securities and Exchange Act of 1934, as amended, a
Slide 3: Introduction to Today's Speakers
INTRODUCTION TO TODAY'S SPEAKERS MODIViI Seasoned Real Estate cutives at the Helm Aaron Halfacre, CFA, CAIA President & Chief Executive Officer 25+ years of real estate experience Previously in leadership roles at Campus Crest Communities, VEREIT, Cole Real Estate Investments, BlackRock and Green St
Slide 4: Who We Are
WHO WE ARE MODIV'!' Modiv is a single tenant net-lease REIT built for growth and income Driven by innovation and an investor-first focus, Modiv is committed to providing investors with Monthly Dividends We focus on strategically important and mission-critical assets with a high percentage of investm
Slide 5: Modiv's History of Execution
MODIV'S HISTORY OF EXECUTION MODIV't' Leadership Team Transformed the Company and Doubled the Portfolio Transformation commences * * H $255M $545M 2015 I 2018 2019 2020 2021 Today | | | | | | Li. Ly T t t t Ly Ly RW NNN REIT | Aaron Halfacre RW NNN Modiv begins a RW NNNis Public listing launches; na
Slide 6: Investment Highlights
INVESTMENT HIGHLIGHTS MODIViI Modiv is a Net Lease REIT Built for Intelligent Growth Proactive Investment Strategy Focused Primarily on Industrial Manufacturing Diversified and Reliable Real Estate Portfolio Supports Our Monthly Dividend Balance Sheet Strength and Flexibility Allows us to Fund Futur
Slide 7: Our Strategy
OUR STRATEGY MODIV1t' Generate strong risk-adjusted returns by growing a well-diversified portfolio of net-lease properties through acquisitions of high-quality assets Long-term strategic priorities: « Reduce exposure to non-core properties and reinvest primarily in industrial manufacturing * Increa
Slide 8: Industrial Manufacturing as an Opportunity
INDUSTRIAL MANUFACTURING AS AN OPPORTUNITY MODIVi!|' Our industrial manufacturing focus: + Mission critical properties where value is being created on site 1.6 million jobs reshored since 2010 + Products where demand is consistent and relatively defensive in nature + Property location vital to the C
Slide 9: Customer Focus
CUSTOMER FOCUS MODIV I We seek tenants that are producing meaningful products to the US economy, with a particular focus on infrastructure and core demand goods that are less susceptible to retail consumer volatility We ensure that the particular property is key to that t tenant's business and unlik
Slide 10: Modiv's Differentiated Positioning
MODIV'S DIFFERENTIATED POSITIONING MODIV'I' ° Large pipeline of potential opportunities Focus on ecideee ; Industrial * Focus on infrastructure and property-level dynamics ive Hehe) core-demand goods results in thorough due Manufacturing ili ‘ocus diligence process e Mission-critical, stable . busin
Slide 11: Diversified and Stable Portfolio
DIVERSIFIED AND STABLE PORTFOLIO MODIV1t' 47 $34.8 Properties Million of Annualized Base Rent” Weighted Average Lease Term® Geographic Diversification Contractual Rental Increases” 1.3 74% 2% Average Annual Portfolio Rental Bumps” Tl Retail 19% Office 27% Indust nical Property Diversification Indust
Slide 12: Strong and Flexible Balance Sheet to Fund Growth
STRONG AND FLEXIBLE BALANCE SHEET TO FUND GROWTH MODIVI! ¢545mM $103mM 38% Gross Real Estate Value Purchasing Power From Revolver and Cash Leverage Ratio Capitalization Table Maturity Schedule Mortgage Debt + 97% of Debt Maturities have a Fixed Weighted Average Rate @ 4% Revolver + 3% of Debt Maturi
Slide 13: Disciplined Underwriting and Ability to Source Acquisitions
DISCIPLINED UNDERWRITING AND ABILITY TO SOURCE ACQUISITIONS MODIVI! Robust Pipeline (LTM) Extensive Due Diligence ~ ~ Volume of Investment Volume of Investment r— Opportunities That Modiv Opportunities That Modiv BA Reviewed Performed a Deep Dive Property - level * Location + Local market trends and
Slide 14: Compelling Valuation; Significant Upside Potential
COMPELLING VALUATION; SIGNIFICANT UPSIDE POTENTIAL | MODIV tl MDV trades at a discount to the peer group average; upside potential ~50% $1.26 - $1.36 0 2022 AFFO per Discount to Consensus share Guidance Target Price P/AFFO 2022 24.0x 21.0x 18.4 18.0x 15.9x 16.5x 16.8x 15.0x 14.2x 14.6x 12.3x 12.5x 1
Slide 15: Strong Banking Support
STRONG BANKING SUPPORT MODIViI Modiv has Developed a Cadre of Strategic Banking Relationships August-November 2022 Research Coverage ATM B|RILEY $22.00 Fi cial . (bryan Maher) Target Price BMO (1) Capital Markets’ Pang $18.00 Securities oon in TRUIST BH (Barry Oxford) Financial B|RILEY “Hutton $21.0
Slide 16: Scalable Platform Led by Experienced Management Team
SCALABLE PLATFORM LED BY EXPERIENCED MANAGEMENT TEAM MODIV:t" Best-in-class Manageme Aaron Halfacre | president & Chief Executive Officer Ray Pacini | chief Financial officer Chief Executive Officer of Modiv Inc. since 2019 Former President and Chief investment Officer of Campus Crest Communities, I
Slide 17: Independent Board of Directors
INDEPENDENT BOARD OF DIRECTORS MODIViI easoned Board of Directors with Deep and Diverse Experience * Specifically Nominated to Help Guide Modiv's Transformation * Invaluable Industry and Company Experience » Vast Working Knowledge and Networks » Focused on Ethics and Integrity * Detailed, Discipline
Slide 18: Corporate Responsibility
CORPORATE RESPONSIBILITY MODIV1t' We are committed to leadership underpinned by environmental, social and governance (ESG) practices and aim to grow sustainably to ensure we are meeting our obligations to our investors, employees, communities and all other stakeholders Environment alstaibability Rec
Slide 19: Modivated
MODIVATED || I www.modiv.com | 888.686.6348 M O D) | V | 120 Newport Center Drive | Newport Beach, CA 92660
Slide 20: Case Study: Dana Incorporated Disposition
CASE STUDY: DANA INCORPORATED DISPOSITION MODIV:t" Proactive Engagement with Te Ss Drives Superior Results » Industrial asset located within the Austin, TX MSA that was purchased in December 2016 for $9.1M by the legacy management team Building was leased to Dana Incorporated (“Dana”), a leading sup
Slide 21: Case Study: Off-Market Acquisitions
CASE STUDY: OFF-MARKET ACQUISITIONS We Have a Proven Ability to Source True Off-Market Opportunities Kia of Carson Kalera MODIV't' dealerships in the country unit transaction KIA of Cason is highly profitable and one of top 3 Kia Prominent frontage along Interstate 405 Sale and leaseback in conjunct
Slide 22: Case Study: 3M Lease Renewal
CASE STUDY: 3M LEASE RENEWAL MODIV I and Execution * Originally developed in 2007 as a build-to-suit industrial property for 3M in DeKalb, IL, this Class A distribution center features approximately 396,000 square feet of warehouse space and 14,000 square feet of office space Located on the western
Slide 23: Case Study: Relationship Driven Acquisitions
CASE STUDY: RELATIONSHIP DRIVEN ACQUISITIONS Arrow Tru-Line Established garage door hardware components manufacturing company Company has been operating since 1970, and this property is adjacent to its corporate offices Sale and leaseback in conjunction with acquisition of the company by a private e