Dream Unlimited Corp. Class A · TSX:DRM
Dream Unlimited Corp. Class A — Dream Office REIT — Investor Presentation (May 2021)
31 slides from Dream Unlimited Corp. Class A's investor presentation, May 2021
Slide 1: = LL ~ ® £ O E Ms Q May 2021
= LL ~ ® 2 £ O E 5 Ms Q May 2021
Slide 2: Note 1 – Excluding properties under development and joint ventures that are equity accounted
) Note 1 – Excluding properties under development and joint ventures that are equity accounted as at March 31 , 2021 .
Slide 3: Why Toronto?
Why Toronto? Top 10 Home to ~40% 2"4 Largest Global Financial of Canada’s Business Innovation cluster in Centre Headquarters North America Life & Health Science attracts $1+ billion in research
Slide 4: Toronto - Macro Environmental Trends
a () Toronto - Macro Environmental Trends Cumulative Forecasted Employment Growth Cumulative Forecasted Population Growth 113.2% | rd Of Canada In 2019, ~30% of all international immigrants to Canada came to Toronto Strong forecasted employment and population growth are expected to continue to contr
Slide 5: Come Invest with Dream - Alignment & Expertise
Come Invest with Dream - Alignment & Expertise ~33% investment in Dream Office REIT by Dream and Insiders In addition, Dream Unlimited manages Dream Office’s developments and Dream Office manages Dream Unlimited’s properties, enabling each to focus on their core expertise.
Slide 6: In-place and committed occupancy in Toronto Downtown
in-place and committed occupancy in Toronto Downtown
Slide 7: High Concentration in Toronto's Financial District
Dream Office REIT High Concentration in Ti Adelaide Place taal leah hel 212 King St. W. oe E nto’s Financial District Toronto - 1 Hour Walking Tour 74 Victoria St. PRR 6 ea 6 Adelaide St. E.
Slide 8: Sustainability - Our Approach
Dream Office REIT Sustainability - Our Approach Sustainability is an integral part of how we strategically approach and manage our business Highlights of Dream Group of Companies’ 2019 report (link) Recipient of the GEM Donated to Charitable Of Dream Office “Women Lead Here” and Community board memb
Slide 9: Sustainability - Select Scoreboard
a Dream Office REIT Sustainability - Select Scoreboard Energy Consumption 2019 Progress 0.7% year-over-year energy consumption reduction from 2018-2019 2025 Targets 10% total reduction of energy consumption by 2025 versus 2019 baseline Greenhouse Gas Emissions (GHGs) Workforce Statistics 2.9% year-o
Slide 10: Using Technology to Rethink Real Estate
By = Dream Office REIT Using Technology to Rethink Real Estate Alate Partners Dream Office REIT, along with Dream Unlimited, entered into a strategic partnership with Relay Ventures to create Alate Partners to invest in technology companies that are rethinking how real estate is designed, built, and
Slide 11: Using Technology to Rethink Real Estate - Lane
Dream Office REIT Using Technology to Rethink Real Estate - Lane Enhanced Tenant Experience with Lane Headquartered in Toronto, Lane helps leading property owners and managers unlock the full value of their assets and deliver a superior experience for everyone at their properties. The platform allow
Slide 12: COVID-19 Response - Unique Features of our Downtown Toronto Assets
Dream Office REIT COVID-19 Response - Unique Features of our Downtown Toronto Assets 1. Smaller Floor Plate Tenants can easily lease the entire floor and do not have to share space or bathrooms with others Lower Rise Buildings Our lower-rise office buildings have a smaller number of people and provi
Slide 13: COVID-19 Response
+ COVID-19 Response Return to Operations Plans Since the Spring of 2020, Dream has demonstrated its commitment to the health and safety of our stakeholders in the face of an unprecedented global pandemic. Our teams have been quick to develop and implement comprehensive plans and procedures to reduce
Slide 14: COVID-19 Response - Initiatives
a Dream Office REIT COVID-19 Response - Initiatives Post Promise - Dream is participating in The POST Promise. This is a private sector-led initiative, in collaboration with various levels of government, designed to help Canadians confidently and safely take the first steps back into public spaces a
Slide 15: COVID-19 Response - WELL Health-and-Safety Certification
By = Dream Office REIT @) COVID-19 Response - WELL Health-and-Safety Certification We have been recognized as Canada’s office portfolio to be WELL Health-and-Safety rated by IWBI with 24 properties (80% of our portfolio) being certified. The WELL Health-Safety Certification is an evidence-based thir
Slide 16: COVID-19 Response - Other Health Initiatives
a Dream Office REIT COVID-19 Response - Other Health Initiatives 1. HVAC Operating Plans Creating building specific HVAC operating plans based on recommendations from Health Canada and CDC 2. UV Robots Made-in-Canada robot that uses UV light to kill surface and airborne virus, bacteria, mold and flu
Slide 17: Future Development Potential
ma (a7) Future Development Potential 250 Dundas St. West 212-220 King St. West 2200 Eglinton Ave. East Current: 121,000 sf office building Current: 84,000 sf office buildings Current: +'+2,000 sf office building Future: 503,000 sf! mixed-use building Future: 1.1 million sf mixed-use building Future:
Slide 18: Cash Rent Collection During COVID-19
a Dream Office REIT Cash Rent Collection During COVID-19 100.0% - of, | 99.0% 98.5% 98.56% 98.6% 98.4% 98.0% 197.6% 97.74 278% 97.7% 97.2% 97.3% 97.4% 97.0% + 96.0% + 95.0% + 94.0% Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 As of May 6, 2021 Our Continued Sup
Slide 19: cautionary statements under the heading “Non-GAAP Measures” in this presentation.
• • • • • *Net total debt-to-net total assets, available liquidity, and unencumbered assets are non-GAAP measures used by management in evaluating operating and financial performance. Please refer to the cautionary statements under the heading “Non-GAAP Measures” in this presentation.
Slide 20: * As at March 31, 2021 ** DIR Unit Price as at April 30,
* As at March 31, 2021 ** DIR Unit Price as at April 30, 2021
Slide 21: *Since appointment of new CEO and announcement of US expansion
*Since appointment of new CEO and announcement of US expansion
Slide 22: Forward looking information
Forward looking information This investor presentation may contain forward-looking information within the meaning of applicable securities legislation, including statements regarding our objectives and strategies to achieve those objectives, the future composition and quality of our portfolio, futur
Slide 23: Feel free to contact us should you have any questions
Slide 24: Appendix I: Management Team
a Dream Office REIT @) Appendix |: Management Team Michael J. Cooper Chairman & CEO Service: 25 Years Industry Experience: 33 Years Founded Dream Asset Management, Dream Office REIT, Dream Industrial REIT, Dream Global REIT, Dream Impact Trust Jay Jiang CFO Service: 7 Years Industry Experience: 14 Y
Slide 25: Appendix II: Diverse and Independent Board
ah Dream Office REIT Appendix Il: Diverse and Independent Board oe EQ Detlef Bierbaum Donald Charter Michael J. Cooper Jane Gavan Independent Independent Robert Goodall The Hon. Dr. Kellie Leitch Karine Maclndoe Independent Independent Independent
Slide 26: * Sale of 2/3 of portfolio to GE and distributions to unitholders ** Total
* Sale of 2/3 of portfolio to GE and distributions to unitholders ** Total return calculation includes distributions and the latest reported IFRS NAV
Slide 27: heading “Non-GAAP Measures” in this presentation.
As at Q1 2021 *Leverage (also known as net total debt-to-net total assets) and available liquidity are non-GAAP measures used by management in evaluating financial performance. Please refer to the cautionary statements under the heading “Non-GAAP Measures” in this presentation.
Slide 28: * % of Annualized Gross Rental Revenue as at Q1 2021
- - * % of Annualized Gross Rental Revenue as at Q1 2021
Slide 29: Appendix VI: Revenue by Tenant Industry
a (29) Appendix VI: Revenue by Tenant Industry ; Estimated Annualized Gross Rental Revenue by Tenant Industr' 4.9% 3.9% 5.0% 6.1% 34.3% Professional Services and Management = Finance and Insurance Government and Government Agencies = Health Care and Social Assistance = Real Estate and Construction =
Slide 30: Appendix VII: DT Toronto Office Market Fundamentals
Ba Dream Office REIT Appendix VII: DT Toronto Office Market Fundamentals") Historical Vacancy and Absorption* 14.0% 9 8,000,000 @ Vacancy Rate @ Absorption 6,000,000 12.0% + 4,000,000 > & Sz 10.0% + = = 2,000,000 5 5 c 8.0% | 5 % |) 7.3% amr 7.2% | 0 é 5 = ‘i 61% 5.9% -2,000,000 6.0% + 5.2% 5.0% 5.1
Slide 31: Appendix VII: DT Toronto Office Market Fundamentals
Vacancy (%) Dream Office REIT Appendix VII: DT Toronto Office Market Fundamentals") 15.0% 12.5% 10.0% 75% 5.0% 2.5% 0.0% Historical Class A Vacancy & Rent Growth* @ Vacancy - Class A @ Avg. Class A Net Rent 0203040 10203040 10203040 10203040 190203040 10203040 190203040 10203040 102038040 10203040 1