DREAM Unlimited Corp. Class A · TSX:DRM
DREAM Unlimited Corp. Class A — Dream Office REIT — Investor Presentation (August 2023)
31 slides from DREAM Unlimited Corp. Class A's investor presentation, Aug 1, 2023
Slide 1: Presentation
Presentation 1] l Wit \ 4 . | yan ut en Wom. Yr he \ A :- Q ha a f \ lL 5A |
Slide 2: Dream Office REIT
Dream Office REIT D.UN Dream Office REIT (the “Trust” or “Dream Office”) is a premier office landlord in downtown Toronto with over 3.5 million square feet owned and managed. We have carefully curated an investment portfolio of high-quality assets in irreplaceable locations in one of the finest offi
Slide 3: Why Toronto?
Dream Office REIT Why Toronto? 2™4 largest Financial Services Centre in North America - HQ of Canada’s Largest Stock Exchange - Home to Five of Canada’s Six Largest Banks of Canada’s Business Headquarters call Toronto home % of new immigrants in Canada settle in Toronto 3rd Largest tech-sector in No
Slide 4: Portfolio is Primarily Comprised of Assets in Downtown Toronto
Portfolio is Primarily Comprised of Assets in Downtown Toronto GLA by Region Fair Value by Region Other Markets Other Markets (SO.4B), 18% (1.9MM sf), 37% Toronto Downtown (3.2MM sf), 63% Toronto Downtown ($1.9B), 82% Note 1 ~ Excluding properties under development and joint ventures that are equity
Slide 5: A Carefully Curated Investment Portfolio of High-Quality Assets
Dream Office REIT 5 A Carefully Curated Investment Portfolio of High-Quality Assets © High concentration of well connected assets in Downtown Toronto 250 Dundas St. W i : : . 4.8 years $1 9B as 67 Richmond St. weighted average lease assets in term in Toronto Toronto Downtown (1) Downtown(') 6 Adelai
Slide 6: Returning Capital and Value to Unit Holders
Returning Capital and Value to Unit Holders @ 8 Bip delivers significant cash return . to unitholders Units repurchased Premium to trading price prior to SIB announcement Returned to unitholders NAV/unit* post-SIB * NAV (also known as net asset value) per unit is a non-GAAP ratio. NAV per unit is ca
Slide 7: Returning Capital and Value to Unitholders
Dream Office REIT Returning Capital and Value to Unitholders 90,000,000 $40 80,000,000 $35 70,000,000 $30 60,000,000 $25 50,000,000 $20 40,000,000 $15 30,000,000 20,000,000 $10 10,000,000 $5 (0) $o o @ Cumulative units repurchased under NCIB Units repurchased under SIB Cumulative weighted average pu
Slide 8: Strong Management Alignment Through Significant Insider Ownership
| Dream Office REIT tT Strong Management Alignment Through Significant Insider Ownership eel | is elt ~32.9%* investment ai ee | a in Dream Office REIT il wel th cL ania a by Dream Unlimited Wi " TH aa BPP: || | SUT ey Corp. and Insiders “FROMMER ll \| iil MI {htt ee | MTA c lp Ns : Welt coe In addi
Slide 9: Well-Capitalized Balance Sheet and Staggered Debt Maturities
Dream Office REIT (@) Mi Well-Capitalized Balance Sheet and Staggered Debt Maturities 48.3% Level of Debt* @ Mortgages Credit Facilities Refinanced mortgage* *Post Q2, Dream Office REIT executed a credit $204M agreement to refinance a mortgage with on outstanding balance of $116MM, maturing in the A
Slide 10: Strong Leasing Momentum with Elevated Rents
Strong Leasing Momentum with Elevated Rents We have made meaningful progress in leasing: * In Q2 2023, we executed leases totaling approximately 56,000 sf across our portfolio. 53,000 square feet of leases in DT Toronto were executed at rents 19% higher than the weighted average prior net Leases exe
Slide 11: Dream Industrial REIT
Dream Office REIT a Dream Office REIT & Dream Industrial REIT ©) Dream Office REIT has a +.9% interest in Dream Industrial REIT ($191M" investment) Dream Industrial REIT owns and operates a diversified portfolio of high-quality industrial space in growing logistics markets primarily in Canada and Eu
Slide 12: Estimated Annualized Gross Rental Revenue by Tenant Industry
Dream Office REIT 5 Estimated Annualized Gross Rental Revenue by Tenant Industry 3.8% 6.1% 6.3% . . = Professional Services and Management 35.1% = Finance and Insurance 6.9% Government and Government Agencies = Health Care and Social Assistance = Real Estate and Construction Retail, Food Services an
Slide 13: Top Tenants
Dream Office REIT 5 Top 10 Tenants Rank | Tenant % of Rent* Investment 1 | ed | Secomnent Government of Canada 9.4% Vv 2 5 ontario Government of Ontario 6.6% Vv 3 7) Isrerxarioxat Frvuvcis International Financial Data Services 3.5% - 4 back International Language Academy of Canada 2.8% - 5 (Sbank. U
Slide 14: Future Development Potential
©) Future Development Potential MACACA 250 Dundas St. West 212-220 King St. West he Aa WE AMD fi a9 ant Ba) ee it Current: office building Current: office buildings Current: office building Future: mixed-use building Future: mixed-use building, Future: Targeting over including 0.8 million sf of resi
Slide 15: Partnership on 2200 Eglinton with CentreCourt
Dream Office REIT 5 Partnership on 2200 Eglinton with CentreCourt © 50/50 partnership to pursue the development of Block 2, the first phase of the 2.7MM sf Masterplan Community, with construction targeted to start in late 2024, subject to the satisfaction of certain conditions. am: (ie ae ow Current
Slide 16: Properties Under Development Highlight - Bay St.
Properties Under Development Highlight - 366 Bay St. Reclassification Start: 1/21 Planned Completion: 2023 Est. Capital Spend: Exterior Conceptual rendering
Slide 17: Bay Street Collection: Revitalizing our Core Downtown Assets
Bay Street Collection: Revitalizing our Core Downtown Assets 80 Richmond St.
Slide 18: Bay Street Collection: Revitalizing our Core Downtown Assets
Bay Street Collection: Revitalizing our Core Downtown Assets Bay Street Gollection=Interiors 350 Bay St.
Slide 19: Bay Street Collection: Revitalizing our Core Downtown Assets
Dream Office REIT Bay Street Collection: Revitalizing our Core Downtown Assets Co | Saleehek nee Wahl iit TTT 56 Temperance dlp) Tay yl! i eee ance 56 emperance
Slide 20: Bay Street Collection: Revitalizing our Core Downtown Assets
Dream Office REIT Mi Bay Street Collection: Revitalizing our Core Downtown Assets 360 Bay St.
Slide 21: Bay Street Collection - Before and After
fe go ore Do O Asse Bay Street Collection - Before and After 80 Richmond
Slide 22: Bay Street Collection: Revitalizing our Core Downtown Assets
Dream Office REIT 5 Bay Street Collection: Revitalizing our Core Downtown Assets
Slide 23: Curating a destination in DT Toronto with Premium Restaurants
Curating a destination in DT Toronto with Premium Restaurants 150 York | Opened May*?023 Coming mid-2024 Alo Bar Downtown Milos Restau E
Slide 24: Prioritizing Efficient and Livable Buildings
y Dream Office REIT @) af Prioritizing Efficient and Livable Buildings Wy v 7h , SUSTAINALYTICS Principles for NET ZERO ASSET GRESB a PR| Responsible MANAGERS 5.9 LL Investment INITIATIVE 92/100 (top 1% of 1,000+ Five-star rating RE Companies) \wl\ whl ek WA EXON NCACN Rg
Slide 25: Canada Infrastructure Bank and Sustainability-Linked Loans
Dream Office REIT Canada Infrastructure Bank and Sustainability-Linked Loans CANADA INFRASTRUCTURE BANK Supporting Dream Office REIT’s target to achieve Scope 1 and Scope 2 net zero greenhouse gas (GHG) emissions* by 2035 or sooner, the Canada Infrastructure Bank (CIB) is committing up to $112.9 mil
Slide 26: Social & Governance
Social & Governance * D.UN’s strength as an organization comes from our strong and diverse workforce. * 57% of D.UN Trustees are women. * 45% of managers are women. * D.UN is committed to ensuring a diverse workforce at executive and board levels D.UN’s strength as an organization comes from our str
Slide 27: Investment in Alate - Using Technology to Rethink Real Estate
Dream Office REIT 5 Investment in Alate - Using Technology to Rethink Real Estate Alate Partners Dream Office REIT, along with Dream Unlimited Corp., entered into a strategic partnership with Relay Ventures to create Alate Partners to invest in technology companies that are rethinking how real estat
Slide 28: Appendix I: Management Team
Dream Office REIT 5 Appendix |: Management Team Michael J. Cooper Chairman & CEO Service: 27 Years Industry Experience: 36 Years Jay Jiang CFO Service: 9 Years Industry Experience: 15 Years Gordon Wadley COO Service: 12 Years Industry Experience: 18 Years
Slide 29: Appendix II: Diverse and Independent Board
Dream Office REIT 5 Appendix Il: Diverse and Independent Board 09308 Amar Bhalla Donald Charter Michael J. Cooper Jane Gavan Independent Independent wy The Hon. Dr. Kellie Leitch = Karine Maclndoe Qi Tang Independent Independent Independent
Slide 30: Dream Office REIT
dream 1. office REIT Feel free to contact us should you have any questions Michael J. Cooper Jay Jiang Chairman & CEO CFO (416) 365-5145 (416) 365-6638 mcooper@dream.ca jjiang@dream.ca
Slide 31: Forward looking information
Forward looking information This investor presentation may contain forward-looking information within the meaning of applicable securities legislation, including but not limited to statements regarding our objectives and strategies to achieve those objectives; the quality and competitive advantages
Dream Office REIT — Investor Presentation (August 2023) on 6ix