Flagship Communities Real Estate Investment Trust · TSX:MHC.U
Flagship Communities Real Estate Investment Trust — Q2 2025 Earnings Presentation
15 slides from Flagship Communities Real Estate Investment Trust's earnings presentation, Aug 7, 2025
Slide 1: Investor Presentation August 2025
2029 2 = INVESTOR) PRESENTATION August y) 2025 Byvuship Communities ~ = : = _ = pa=3 —— ‘Anderson Pointe in Jacksonville, Arkansas
Slide 2: Disclaimers
Disclaimers Forward-Looking Information Market and Industry Data This meeting and presentation, including responses to any questions, may contain This presentation includes market and industry data that were obtained from third‐party statements that include forward-looking information (within the me
Slide 3: Executive Leadership
Executive Leadership Eddie Carlisle Kurt Keeney Nathan Smith Chief Financial Officer Chief Executive Officer Chief Investment Officer 3
Slide 4: Q2 2025 Highlights
Q2 2025 Highlights REVENUE FFO ADJUSTED PER UNIT (DILUTED)1 $25.1 M 18.1% 13.7% $21.2 M $0.314 $0.357 Q2 2024 Q2 2025 Q2 2024 Q2 2025 NET OPERATING INCOME (NOI) AFFO ADJUSTED PER UNIT (DILUTED)1 $16.7 M 18.7% 18.1% $14.1 M $0.326 $0.276 Q2 2024 Q2 2025 Q2 2024 Q2 2025 1See “Non-IFRS Financial Measur
Slide 5: Q2 2025 Same Community Metrics Growth
Q2 2025 Same Community Metrics Growth SAME COMMUNITY REVENUE1 $22.7M SAME COMMUNITY NOI1 SAME COMMUNITY NOI MARGIN1 12.2% 14.2% 1.2% $15.0M $13.1M 66.0% $20.2M 64.8% Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 1See “Non-IFRS Financial Measures and Real Estate Industry Metrics” for more informati
Slide 6: Optimizing Organic Opportunities
Optimizing Organic Opportunities Significant Opportunities to Increase Growth of Organic Portfolio: ▪ Maintaining Stable Occupancy Rates ▪ Customer Satisfaction ▪ Ancillary Revenue and Cost Containment Initiatives ▪ Lot Expansion NEW DOG PARK ADDED TO MISSOURI MHC 6
Slide 7: Positive Outlook for MHC Industry
Positive Outlook for MHC Industry Same-Property NOI Growth: Manufactured Housing vs. Other U.S. Real Estate Sectors Manufactured Housing Other U.S. Real Estate Sub-Sector Average Manufactured Housing 12% sector remained Manufactured resilient during the Housing NOI COVID-19 pandemic 10% growth remai
Slide 8: Proven Operator
Proven Operator MHC Industry Market Share Source: Manufactured Housing Institute ▪ Industry primarily comprised of local owner-operators ▪ Top 50 investors estimated to control ~17% of manufactured housing lots for rent ▪ ~5,300 communities within Flagship’s current target markets New Supply Constra
Slide 9: Integration and Improvements to New Communities
Integration and Improvements to New Communities West Virigina: ▪ Steadily increased occupancy levels BECKLEY, WEST VIRGINIA Tennessee: ▪ New home sales advancing ▪ Amenities package added MURFREESBORO, TENNESSEE 9
Slide 10: KMHI Community of the Year
KMHI Community of the Year DERBY HILLS POINTE WINS KMHI COMMUNITY OF THE YEAR 10
Slide 11: Q2 2025 Financial Summary
Q2 2025 Financial Summary ($000s except per unit amounts) For the three For the three For the six For the six months ended months ended Variance months ended months ended Variance Jun. 30, 2025 Jun. 30, 2024 Jun. 30, 2025 Jun. 30, 2024 Rental revenue and related income 25,067 21,232 18.1% 49,848 41,
Slide 12: MHC Portfolio
MHC Portfolio ($000s except per unit and Weighted Average Lot Rent amounts) As at Jun. 30, 2025 As at Dec. 31, 2024 Total communities (#) 82 82 Total lots (#) 15,140 15,137 Weighted Average Lot Rent1 (US$) 484 448 Total portfolio Occupancy1 (%) 85.1 83.5 Same Community1 Occupancy1 (%) 85.5 84.3 NAV1
Slide 13: Stable and Consistent Occupancy
Stable and Consistent Occupancy Lot Rent Occupancy Consistent Same Stable and Growing Same Community Lot Rent Growth Community Occupancy 13
Slide 14: Flagship Communities REIT
Flagship Communities REIT Page14 14
Slide 15: Investor Presentation
2029 2 = INVESTOR) PRESENTATION August y) 2025 Byvuship Communities ~ = : = _ = pa=3 —— ‘Anderson Pointe in Jacksonville, Arkansas
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