Cto Realty Growth, Inc. · NYSE:CTO
Cto Realty Growth — Consolidated Tomoka Land — Investor Presentation (September 2012)
20 slides from Cto Realty Growth's investor presentation, Sep 4, 2012
Slide 1: Consolidated-Tomoka Land Co. Investor Presentation
Consolidated-Tomoka Land Co. INVESTOR PRESENTATION Over a century in business and we’re just getting started
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology such as 'will,' 'believes,' ‘expects’ or similar expression
Slide 3: Consolidated-Tomoka Land Co.
Consolidated-Tomoka Land Co. Incorporated in 1910 As of June 30, 2012 Ticker NYSE MKT: CTO Shares 5.7 million Share Price as of 8/30/2012 $29.15 Annual Dividend $0.04 52-Week Range $24-65 - $33.19 Equity Market Capitalization $166.9 million Cash $6.6 million Restricted! Cash $4.3 million Total Debt
Slide 4: Current Status and Strategy for Growth
CURRENT STATUS STRATEGY FOR GROWTH LAND > Approximately 11,000+ acres > Maximize Value from Land Portfolio o Within 5 miles of I-95 and 9 miles of the I-4 interchange > Expand Income Properties Portfolio o Within 8.5 miles of the Daytona o Geographic Diversification: Investments in major MSA’s Beach
Slide 5: Strategic Location
Strategic Location DAYTONA BEACH > 68,000 residents > MSA: 495,000 > 7 million visitors in 2009 > Major Traffic Generators o "World's Most Famous Beach” ° 23 miles of beach * over 50 area hotels o. Daytona International Speedway > Approximate mileage from Daytona Beach: o 53 miles to Orlando (MSA po
Slide 6: Granada / Land Highlights
oN i 40) ? eS Granada Bridge Hand Ave, [e 1) fs 3 fs ce S 4 g 2 y Bisoot ew: € onl Ti TPGA Blvd, 8 f a Ay os Ba] & LPGA Inernainaat {sé Mason Ave. Bridge 7 { f CofCancs is J z- g 122) Intl’ Speed Blvd Bridge y g PS Pa ntl’ Speedway Blvd. igi : iV oie) es vs a 92 rs {aso} Beville Rd. rand? | cTLC Lan
Slide 7: Future Thoroughfare Roads Secured
Future Thoroughfare Roads Secured eG ee In 2007, the Company entered into a long- term “thoroughfare road agreement” with Volusia County to ensure major roads can be built through our lands to accommodate traffic flow. 1530 Cornerstone Boulevard | Daytona Beach, Florida 32117 | 386.274.2202 | info@c
Slide 8: Infill Opportunities
Infill Opportunities Worn encore eee Sr coca MA Maa fEWAY BUSINESS c; HASET [0 Aci i$ / 146,00 1530 Cornerstone Boulevard | Daytona Beach, Florida 32117 | 386.274.2202 | info@ctlc.com
Slide 9: Memorial Medical / Florida Hospital
MEMORIAL MEDICAL GEN) @ FLORIDA HOSPITAL | 60 acres 1530 Cornerstone Boulevard | Daytona Beach, Florida 32117 | 386.274.2202 | info@ctic.com
Slide 10: Income Properties Highlights
Income Properties Highlights Summary, ‘ | > 24 single-tenant properties o Average lease duration 10 years > 2self-developed properties o 86% weighted average occupancy > 2011 operating income: $6,535,289 Recent Activities > Acquired a Walgreens in Boulder, Colorado, April 2012 for $7.4 million > Rec
Slide 11: Income Properties
Income Properties Physical tm Economic Rank Tenant GLA (SF) % of Total No. of Properties Vy 1 cys 114,938 23.3% 9 100% TO0% 100% o 95% j 2 Lowe's 114,734 23.3% 1 3 Walgreens 101,080 20.5% 7 90% 4 Dick's Sporting Goods 46,315 9.4% 1 porting , ° 80% 5 Harris Teeter Supermarket 45,089 9.2% 1 6 Best Buy
Slide 12: Target Investment Markets
Target Investment Markets (@ Seattle Portland : Home LGA 3 Washington DC ® san Fransisco" ; G > ee nal Se 134 7 Los Angeles San Diego \ Plioenix Dallas/FW Austin @ Houston@ 1530 Cornerstone Boulevard | Daytona Beach, Florida 32117 | 386.274.2202 | info@ctlc.com 12
Slide 13: Golf Highlights
Golf Highlights Summary > LPGA International: Home of the Ladies Professional Golf Association © Two 18-hole championship courses with 3-hole practice facility and clubhouse > Semi-private club > CTO operates LPGA International and leases it from the City under a 10-year lease with renewal options R
Slide 14: Additional Segments
Additional Segments Agriculture ee ene ee ’ —))} ~—«~Oil & Subsurface ; > 490,000 acres of subsurface > Timber, hay and hunting leases Fights managed by American Forest ad Managements of Q1 2012 aa . i > 8-year 136,000 acre subsurface 4) mineral lease in Lee and Hendry > Substantially all equipments
Slide 15: Unique Value Proposition
Unique Value Proposition LOW BOOK VALUE CTO’s book value of $114 million, or approximately $20 per share reflects a land basis of $3,900 per acre and factors in approximately $6 per share in deferred-tax liabilities from 1031 exchanges. Historical Land Sales (by acres) WResidential =! Commerical Acr
Slide 16: Equity Market Capitalization and Implied Land Value
Equity Market Capitalization $166.9 Debt $20.9 Tax Deferred Liability $32.2 Other Liabilities $9.1 less: Cash & Restricted Cash ($11.0) Less: BV of Income Properties & Golf ($121.0) Implied Land Value $97.1 Total Acres (Approximate) 11,000 Implied! Market Value/Acre (Approximate) $8,828 All data as
Slide 17: Relative Value
Relative Value! “The Scream” sold at Sotheby’s for a record $120 Million CTO’s Shareholder Book Equity is only $114 Million! 1530 Cornerstone Boulevard | Daytona Beach, Florida 32117 | 386.274.2202 | info@ctlc.com
Slide 18: Financial Statement Highlights
Financial Statement Highlights MeoMNaOOOS YTD June 30, 2012 June 30, 2012 $10,984 Real Estate Income $1,371 eine se es eel $42,978 Income Properties Income $3,466 $118,455 $4,147 $176,564 Golf Operations Income ($401) Other Interest & Other Income $304 Total Asse General & Administrative} ($2,973) l
Slide 19: Shareholder Overview
Shareholder Overview a) SHAREHOLDER SHARES % WINT ne REEN Wintergreen Advisers LLC 1,543,075 26.46 Third Avenue Management LLC 516,855 8.86 CARLSON &. Carlson Capital LP 355,500 6.10 BlackRock Institutional 184,189 3.16 Vanguard Vanguard Group, Ine. 159,057 2.73 Dimensional Fund Advisors, Inc. 155,7
Slide 20: Board of Directors
Board of Directors John P. Albright President and Chief Executive Officer of the Company John J. Allen President of Allen Land Group, Inc. William H. Davison Retired President and Chief Executive Officer of SunTrust Bank, East Central Florida Jeffry B. Fuqua Chairman of the Board of the Company and
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