Slide 1: Investor Presentation 1st Quarter 2025
INVESTOR PRESENTATION 1st Quarter 2025
Slide 2: Legal Disclaimer
Legal Disclaimer FORWARD-LOOKING STATEMENTS THIS PRESENTATION INCLUDES FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. ALL STATEMENTS, OTHER THAN STATEMENTS OF PRESENT OR HISTORICAL FACT, THAT ADDRESS THE FUTURE FINANCIAL PERFORMANCE OF MOBILE I
Slide 3: Mobile Infrastructure Investment Thesis
Mobile Infrastructure Investment Thesis Mobile Infrastructure owns a diversified portfolio of parking assets primarily located in the Midwest 1 and Southwest. New management came on board in 2021 with 40+ years experience in the parking industry and a proven track record We believe conversion from l
Slide 4: Mobile Infrastructure at a Glance
Mobile Infrastructure at a Glance 40 22 / 18 PARKING FACILITIES LOTS / GARAGES 20 ~15,100 MARKETS PARKING SPACES 3 4 4 3.0M 5.2M SQUARE FEET OF 2 AVG. MSA POPULATION 3 5 3 PARKING SPACE Mobile Infrastructure is a large-scale, institutional-quality, mobility-focused parking owner 5 Over 40 years of c
Slide 5: Overview of Top Ten Assets
Overview of Top Ten Assets Demand Drivers Name Location % of Total Spaces % of Revenue Multifamily Commerce Events Hospitality Govt. River East Garage Chicago, IL 7.6% 17.3% ✓ ✓ ✓ ✓ ✓ RenCen Garage Detroit, MI 8.4% 10.7% ✓ ✓ ✓ ✓ Mabley Place Garage Cincinnati, OH 5.1% 6.7% ✓ ✓ ✓ ✓ Taylor St Garage F
Slide 6: Our Strategic Plan: Driving NOI Growth
Our Strategic Plan: Driving NOI Growth Assets in Top 50 MSA downtown cores with 1 ASSET multiple demand drivers that have embedded PROFILE upside potential PIVOT TO Conversion to management contracts provides 2 MANAGEMENT cost savings opportunities CONTRACTS ASSET Onboard assets onto proprietary tec
Slide 7: Secular Tailwinds Driving Industry Growth
Secular Tailwinds Driving Industry Growth Transient revenue drivers are at a steady state Leisure, travel, and dining have rebounded from 2020 Evolving preferences in working habits Hybrid work presents opportunities for new flexible membership products (e.g., 2, 3, 5-day passes) that free up additi
Slide 8: RevPAS and Parking Lease Maturities
RevPAS(1) and Parking Lease Maturities 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 Same Location RevPAS $207.01 $222.89 $187.73 $195.40 $222.21 $224.00 $198.64 $192.31 $216.63 $227.60 $200.44 $184.24 Same Location TTM RevPAS - - $196.93 $203.26 $207.06 $207.34 $210.06 $209.29 $207.90
Slide 9: Asset Overview
Asset Overview Size / Buildings, Gross Book Name Property Address City State Sq. Ft. Asset Type Land Equipment Value Date Acquired Lafayette Square Garage 300-314 Fairfield Avenue Bridgeport Connecticut 232,964 Garage $498,421 $7,606,347 $8,104,768 16-Mar River East Garage 322 East Illinois St Chica
Slide 10: The Future Today
TODAY THE FUTURE MIX OF MANAGEMENT CONTRACTS AND MAJORITY MANAGEMENT CONTRACTS WITH LEASES STRATEGIC NNN LEASES LIMITED USE OF TECHNOLOGY TECHNOLOGY WILL ENHANCE DATA USAGE LARGER SALESFORCE & MORE CORPORATE BUILDING INITIAL SALESEFORCE ACCOUNTS DEMAND BASED ON WORKFORCE & CENTRAL BUSINESS DISTRICT
Slide 11: Future Company & Portfolio Repositioning
Future Company & Portfolio Repositioning As of March 31, 2025, 29 of our 40 assets have been converted to management contracts, allowing direct control over those property-level budgets We expect that the conversion will lead to accelerated revenue growth and cost savings that could drive incrementa
Slide 12: Advantages of Management Contracts
Advantages of Management Contracts 1 Ability to leverage Mobile’s experienced management team to accelerate growth 2 Better control and management of expenses 3 Ability to ramp-up marketing as appropriate 4 Improved data visibility of parking usage and demand metrics 12
Slide 13: The U.S. Parking Industry is Massive
The U.S. Parking Industry is Massive Industry comparison ~$131 billion annual parking revenue 1 (annual revenue) 2 ~$57B Auto maintenance industry ~$23B Amusement park industry ~1 billion parking spaces in the U.S. 1 ~$9B Car wash industry ~1% of U.S. GDP 1 Notes: 1. Source: EY”s Economic Contributi
Slide 14: Mobile Infrastructure Is Well-Positioned
Constrained Supply and a Highly Fragmented Market Create a Favorable Backdrop for Consolidation MOBILE Land scarcity, rising development costs, and zoning INFRASTRUCTURE IS 1 restrictions will inevitability limit growth of new supply WELL-POSITIONED TO PURSUE Opportunity to make accretive acquisitio
Slide 15: Acquisition Approach
Acquisition Approach Origination Asset Selection Underwriting Execution Institutional Embedded upside Pre-identified 200 basis Professional operating relationships point premium to cost partner Located in top-50 MSA; of capital Boutique brokers existing MIC market or Foster relationships with large
Slide 16: Case study – Improving NOI: Residence Inn Garage
Case study – Improving NOI: Residence Inn Garage (Denver, CO) AT ACQUISITION ASSET MANAGEMENT WHERE ARE WE NOW? 450 spaces ~$400k in total improvement $1.1M NOI* today2 capex including high-speed overhead doors to secure the $16.1M acquisition price (Nov. 2021) garage, and new Flash POS 6.8% current
Slide 17: Case study – Improving NOI: River East Garage
Case study – Improving NOI: River East Garage (Chicago, IL) AT ACQUISITION ASSET MANAGEMENT WHERE ARE WE NOW? 1,154 spaces $186k in total improvement capex $3.3M NOI* today3 including LPR camera system and other enforcement mechanisms $31.4M acquisition price (Feb. 2020)1 to minimize revenue slippag
Slide 18: Portfolio Optimization Strategy
Portfolio Optimization Strategy 1 Strong Core Foundation: Approximately 50% of our portfolio consists of core assets that generate ~80% of revenue and >80% of net operating income (NOI), providing a solid base for growth(1) 2 Disciplined Portfolio Review: A detailed evaluation of non-core assets – f
Slide 19: Mobile Infrastructure's Extensive Acquisition Pipeline
Mobile Infrastructure’s Extensive Acquisition Pipeline Supports Long-Term Growth Curated pipeline of $300 million of potential acquisitions, located in diversified geographies with similar characteristics to existing portfolio $100 million of potential acquisitions could be completed over near to me
Slide 20: Summary
Summary 1 Mobile Infrastructure's diversified asset portfolio offers considerable NOI* upside 2 NAV of $7.25 underscores attractive valuation 3 Significant management ownership fully aligned with shareholder interests Management’s track record + a robust acquisition pipeline provide runway for subst
Slide 21: Appendix
INFRASTRUCTURE APPENDIX
Slide 22: NOI
APPENDIX NOI *NOI is a non-GAAP financial measure. Please see “Non-GAAP Disclosures” page for further detail. 22
Slide 23: EBITDA
APPENDIX EBITDA * EBITDA and Adjusted EBITDA are non-GAAP financial measures. Please see “Non-GAAP Disclosures” page for further detail. 23
Slide 24: Balance Sheet
APPENDIX Balance Sheet Consolidated Balance Sheet as of March 31, 2025, $ in thousands LIABILITIES AND EQUITY Liabilities Notes payable, net Revolving Credit Facility, net Preferred Line of Credit Accounts payable and accrued liabilities Accrued preferred distributions and redemptions lity Security
Slide 25: NAV
APPENDIX NAV The following table provides a breakdown of the major components of our total Net Asset Value attributable to our common stock as of June 30, 2024: Net Asset Value Estimated ($$ in thousands) Value Investments in real estate (a,b) $ 546,130 Cash and restricted cash 13,314 Other assets
Slide 26: Non-GAAP Disclosures
APPENDIX Non-GAAP Disclosures Adjusted Earnings Before Interest Expense, Taxes, Depreciation and Amortization (“Adjusted EBITDA”). Adjusted EBITDA reflects net income (loss) excluding the impact of the following items: interest expense, depreciation and amortization, and the provision for income tax
Slide 27: Non-GAAP Disclosures
APPENDIX Non-GAAP Disclosures RevPAS, Parking Revenue, and Same Location RevPAS Revenue Per Available Stall (“RevPAS”) is used to evaluate parking operations and performance. RevPAS is defined as average monthly Parking Revenue (Parking Revenue less related Sales Tax/CC Fees) divided by the parking