Global Net Lease, Inc. · NYSE:GNL
Global Net Lease — Corporate Update (July 2016)
12 slides from Global Net Lease's corporate update, Jul 1, 2016
Slide 1: July 2016 Brexit Impact Presentation
July 2016 Brexit Impact Presentation 1
Slide 2: Non-GAAP Definitions
Non - GAAP Definitions Net operating income ("NOI") is a non - GAAP financial measure equal to net income (loss), the most directly comparable GAAP financial measure, less discontinued operations, interest, other income and income from preferred equity investments and investment securities, plus c
Slide 3: Overview
Overview While the decision of the UK to exit the European Union has had an impact on global financial markets and implications for the UK economy, GNL is well positioned to limit exposure from the impact of Brexit on any of its owned properties in the UK GNL’s management team actively manages c
Slide 4: Actively Managed Hedging Program
Actively Managed Hedging Program UK Asset Values are Fully Hedged GNL employs an asset / liability matching program to provide a natural hedge for asset values This program matches asset values to debt levels in local currency This program allows debt and asset values in local currency to mo
Slide 5: Brexit Impact on GNL Net Cash Flow
Brexit Impact on GNL Net Cash Flow % Change in Exchange Rate (1) : GBP / USD Corresponding Spot Rate: GBP / USD % Change Impact to GNL Net Cash Flow 5% 1.368 0.24% 10% 1.296 0.47% 20% 1.152 0.95% (1) Exchange rate as of March 31, 2016 5 As a result of the implemented hedging program and management’s
Slide 6: Well Diversified Portfolio: Global Portfolio Overview
0% 0% 0% 0% 2% 2% 8% 10% 21% 57% Well D iversified Portfolio Global Portfolio Overview Source: All portfolio and financial information derived from unaudited company internal records as of March 31, 2016. Informa tio n shown based on USD equivalent amounts using exchange rates as of March 31, 2016.
Slide 7: UK Portfolio
UK Portfolio # of Properties 40 Total Square Feet (mm) 2.7 Number of Tenants 22 Number of Industries 12 Countries 1 Occupancy 100% Weighted Average Remaining Lease Term (3) 11.3 years % of NOI from Investment Grade Tenants (1)(2) 87.0% % of Portfolio NOI from Leases with Contractual Rent Increases (
Slide 8: Eurozone Portfolio
Eurozone Portfolio # of Properties 17 Total Square Feet (mm) 3.8 Number of Tenants 11 Number of Industries 10 Countries 3 Occupancy 100% Weighted Average Remaining Lease Term (3) 10.6 years % of NOI from Investment Grade Tenants (1)(2) 81% % of Portfolio NOI from Leases with Contractual Rent Increas
Slide 9: Conclusions
Conclusions 9 Disciplined investment strategy has GNL well positioned in countries within Europe that will limit the potential impact of political instability by focusing on Western European countries such as Germany, Finland and the Netherlands GNL’s management continues to monitor economic dev
Slide 10: Appendix
APPENDIX 10
Slide 11: Non-GAAP Measures Reconciliation
Non - GAAP Measures Reconciliation Amounts in thousands (unaudited) Mar 31, 2016 EBITDA: Net income (loss) $ 6,558 Depreciation and amortization 23,756 Interest expense 10,569 Income tax expense 550 EBITDA $ 41,433 Adjusted EBITDA: Equity based compensation $ 1,044 Acquisition and transaction relate
Slide 12: Diversification by Geography
Diversification by Geography Total Portfolio Region NOI (1 ) NOI Percent Square Footage Sq. ft. Percent United States $ 117,971 58.2% 12,085 64.5% United Kingdom 38,368 18.9% 2,708 14.5% Germany 19,373 9.6% 1,870 10.0% Finland 14,747 7.3% 1,457 7.8% The Netherlands 8,968 4.4% 554 3.0% US Province 3,