Choice Properties Real Estate Investment Trust · TSX:CHP.UN
Choice Properties Real Estate Investment Trust — Q1 2026 Earnings Presentation
18 slides from Choice Properties Real Estate Investment Trust's earnings presentation, Apr 30, 2026
Slide 1: Q1 2026 Conference Call
Q1 2026 Conference Call April 30, 2026 9:00 AM ET 1 301 Moore Ave., Toronto, ON
Slide 2: Forward-Looking Statements
Forward -Looking Statement s Certain statements contained in this document constitute forward -looking information within the meaning of securities laws. Forw ard -looking information may relate to Choice Properties REIT’s (“Choice Properties” or the “Trust”) future outlook and anticipated events or
Slide 3: Business & Operations Update
Business & Operations Update Rael Diamond President & Chief Executive Officer 3 650 Portland St., Dartmouth, NS
Slide 4: Acquisition Portfolio Overview
Acquisition Portfolio Overview The Acquisition Portfolio comprises FCR’s best -in-class assets, solidifying Choice Properties’ position as Canada’s leading REIT Portfolio includes some of the Financial & Portfolio Metrics highest -quality urban neighbourhood centres in core ~$5.0B ~$235M Canadian ma
Slide 5: Quarterly Highlights
Quarterly Highlights Delivering a solid start to the year with healthy operating and financial results Occupancy Leasing Spreads SA -NOI Growth 98.1% (-10 bps QoQ) 21.8% 3.0% Supported by active leasing activity in our Strong leasing renewals in our Atlantic Healthy cash flow and same -asset NOI Ont
Slide 6: Portfolio Statistics
Portfolio Statistics Choice Properties delivered a strong quarter of leasing activity with robust spreads in Q1 Average Renewal Spread Occupancy 21.8% 98.1% Supported by strong lease Supported by renewal & new renewals in our Atlantic and leasing in our Ontario and Alberta portfolios Alberta portfol
Slide 7: Retail Portfolio
Retail Portfolio Necessity -based, grocery anchored assets 44.5M SF 563 PROPERTIES Renewal Spreads Occupancy 17.2% 97.9% Renewals New Leasing 364K SF 97K SF Retention Ratio 75.8% 7 2925 Rue Rachel E., Montreal , QC
Slide 8: Industrial Portfolio
Industrial Portfolio Flexible high -quality and well -located primarily distribution assets 22.2M SF 124 PROPERTIES Renewal Spreads Occupancy 46.2% 98.6% Renewals New Leasing 103K SF 24K SF Retention Ratio 56.6% 8 Choice Eastway Industrial Centre, East Gwillimbury, ON
Slide 9: Mixed Use and Residential Portfolio
Mixed Use and Residential Portfolio Transit -oriented mixed -use and residential assets 1.8MSF (1) 923 Units 93.8% Occupancy (2) Liberty House, 39 East Liberty Street, Toronto, ON (1) 1.8M SF of GLA includes 0.7M SF associated with Choice Properties’ 923 residential units (2) Occupancy represents re
Slide 10: Investment Activity & Update
Investment Activity & Update Continually improving the quality of our portfolio through capital recycling 2026 Acquisitions Q1 Acquisitions $28M During the quarter we acquired our partners 50% interest in a grocery -anchored site in Edmonton anchored by a Shoppers Drug Mart / No Frills and a propert
Slide 11: Financial & Capital Update
Financial & Capital Update Erin Johnston Chief Financial Officer 11 1048 Midland Ave., Kingston, ON
Slide 12: Growing Cash Flows
Growing Cash Flows Portfolio continues to deliver stable and growing cash flows $196M $0.271 2.7% Total FFO FFO / Unit FFO / Unit YoY Maple Ridge Square, 22441 Dewdney Trunk, Maple Ridge, BC Q1 2026 (1) SA -NOI YoY % Retail $195M +3.2% Industrial $52M +6.2% Mixed Use & Residential $8M (15.4%) (2) To
Slide 13: NAV Appreciation
NAV Appreciation Consistent NAV growth over time $14.53 $67M 0.7% Per Unit QoQ QoQ 2.5% $14.53 $14.53 YoY $14.43 $14.38 $14.17 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 13 Creekside Shopping Centre, Calgary, AB
Slide 14: Industry Leading Balance Sheet
Industry Leading Balance Sheet Began the year in a solid financial position with healthy debt metrics and ample liquidity 7.0x Adjusted Debt / EBITDA FV 40.9% Debt to Total Assets $1.6B Unused Portion of Revolving Credit Facility & Cash $14.0B Unencumbered Assets BBB (High) / BBB+ Trend: Positive 14
Slide 15: Development Update
Development Update 22K SF of GLA at share was delivered and transferred to IPP in Q1 at an 8.9% average yield Retail Intensifications 22K SF delivered 2 Deliveries ~8.9% average yield Tenants added: 680 O’Brien Rd., Renfrew, ON Industrial Progress continues at Choice Caledon Business Park 2 Active P
Slide 16: 2026 Guidance
2026 Guidance Target Outlook (1) Occupancy Stable SA -NOI growth +2% - 3% FFO / unit $1.08 - $1.10 Adjusted Debt / < 7.5x EBITDA FV (1) Excluding the impact of the First Capital REIT portfolio acquisition 16 100 Country Village Road NE, Calgary, AB
Slide 17: Q&A Session
Q&A Session 17 2332 -160th St., Surrey, BC
Slide 18: Thank You!
Thank You! 18 16900 Rte Trans -Canada, Kirkland, QC
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