Inventrust Properties Corp. · NYSE:IVT
Inventrust Properties — Investor Presentation (November 2018)
21 slides from Inventrust Properties's investor presentation, Nov 8, 2018
Slide 1: InvenTrust Investor Presentation November 2018
@*y Inventrust INVESTOR PRESENTATION November 2018 Xa Properties
Slide 2: Forward-Looking Statements
ig Statements fard-Looking Statements in this presentation, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements are statements that are not historical, including statements regarding ma
Slide 3: Discuss IVT's Recent Announcements
1. Discuss IVT’s Recent Announcements 2. Evaluation of Superior Balance Sheet 3. Review Current Portfolio of Assets 4. Strategy Moving Forward & InvenTrust Properties 3
Slide 4: Dutch Tender Offer
he Dutch tender was announced on August 15‘. The Offer expired on September 13" at 5pm. Total funds allocated to the tender = $97.5 million, purchasing 46.4 million shares (or about 6% of shares outstanding). Shares were purchased at $2.10. 38% of shares tendered were purchased and over 6,570 accoun
Slide 5: Annualized Distribution Rate
Annualized Distribution Rate $0.0725 $0.0716 $0.0700 $0,0695 $0.0675 $0.0650 7 - 2016 2017 2018 Distribution Rate increased in April 2018 The increase in the distribution rate the last two years underscores the confidence that the Board has in our portfolio and business plan
Slide 6: Share Value
Share Value $3.30 $3.29 $3.20 $3.14 $3.14 $3.10 $3.00 May-16 May-17 May-18 6 & InvenTrust Properties
Slide 7: Portfolio was not Immune to Retail Market Adjustments
rtfolio was not Immune to Retail Market Adjustments Market Adjustments to Retail Asset Value Change from Jan. 2017 to May 2018 _ Lal -10% 10% 15% 14% -20% -25% -30% -27% Neighborhood Centers Community Centers Power Centers AMalls B-Malis (Malls Change in Estimated Share Value from May 2017 to May 20
Slide 8: Balance Sheet Funded Recent Activities & Will Support Future Growth
ince Sheet Funded Recent Activities & Will Support Future Growth Available Unsecured Debt $300 million Leverage Ratio (Debt / Gross Asset Value) 27% Weighted Average Interest Rate 3.83% Distribution Rate on NAV 2.3% 2018F Dividend AFFO Payout Ratio 71% InvenTrust Capital Structure Variable Rate Debt
Slide 9: Unique Retail Platform
° ° nique Retail Platform he Right Properties in the Right Markets with Multiple Growth Drivers Focused Portfolio In Sun Belt Markets $3.5 Billion Retail REIT ! Concentrating Portfolio into ~15 Core Markets with Superior Demographics (down from over 40 markets in 2013) Fewer Markets with Additional
Slide 10: Sun Belt Focused Portfolio
- Sun Belt Focused Portfolio i 78 Open-Air Centers in Current Portfolio — rs 92% of IVT’s Income 13.9 M Square Feet Comes from Our of Gross Leasable Target Markets Southern California’ 10.5% Denver’ H 5.2%e Miami/Ft Lauderdale/ West Palm Beach St. Petersburg? Dallas/Ft Worth/Arlington | Target Marke
Slide 11: Portfolio Located in High Growth Markets
~— Portfolio Located in High Growth Markets ' By strategically targeting Sun Belt markets expecting significant near-term population and job Growth, InvenTrust expects to have a sizeable advantage to capture future demographic shifts. 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% Estimated Portfolio
Slide 12: Portfolio Evolution to Grocery Anchored Assets
Portfolio Evolution to Grocery Anchored Assets 12/31/2015 a22018 Grocery Anchored 42% Grocery Anchored 27% 83% ae. a ‘Anchored? ASTER) Sy Inventrust ae Properties
Slide 13: Invest in Our Grocery-Anchored Retail Centers
tt in Our Grocery-Anchored Retail Centers Retail is Evolving, but Brick & Mortar Stores are Core to Building a Brand and Sales Retail occupancy rates are strong in the range of 93% to 95% + IVT occupancy rate is at 93% as of 06/30/18 + Strip center occupancy rates increased year-over-year in 2017 +
Slide 14: Capital Recycling Impact
ital Recycling Impact nTrust has significantly improved the quality of its portfolio and operations with $2.5 billion of transaction volume since embarking on our capital recycling efforts in 2015. Acquisitions Dispositions completed completed since 2015 since 2015 # Properties 2a ae Gross Leasable
Slide 15: Recent Acquisitions - Upgrading the Portfolio
~— Recent Acquisitions —- Upgrading the Portfolio PGA Plaza Palm Beach Gardens, FL Average Base Rent per SF - $32.88 Trader Joe's anchored 94% occupied 3-mile Avg. HH Income - $101,200 3-mile Population - 63,400 Grocer Sales per SF - $2,619 The Plaza Midtown Atlanta, Georgia Average Base Rent per SF
Slide 16: Metrics Show the Improvements to IVT's Platform
ce Metrics Show the Improvements to IVT's Platform $105,000 45% erage Base Rent per SF 3-Mile Average Household Income Leverage Ratio $101,000, 40% 100,000 $18 ‘ 35% 35% $17 eal 30% 27% $16.44 ; 25% $16 $90,000 $88,000 20% $15 $85,000 15% 2016 22018 2016 22018 2016 22018 16 & InvenTrust Properties
Slide 17: Board of Directors
‘oard of Directors Paula J. Saban - (2004) Chairperson 25+ years of banking & financial services, including Bank of America Thomas Glavin (2007) CPA with over 30 years of accounting & 20 years of real estate experience Tom McGuinness (2015) President & CEO since 2014 Julian Whitehurst (2016) CEO of
Slide 18: Strategy Moving Forward
° — Strategy Moving F Focus and drive value as a pure-play retail platform. Concentrate investment capital in high job & population growth ma Opportunistically sell assets in low growth markets & where value has bee maximized. Evaluate various liquidity options for our stockholders when market condi
Slide 19: Disruption for Traded Peers
-GreenStreet Platforms with fewer markets, lower leverage and more grocery warrant a higher valuation. Disruption for Traded Peers Pricing data as of ' @ 10/31/2018 12.5% WEINGARTEN REALTY 21.3% =KIMCO 25.6% RPA! -30.1% -30.1% BRIXMOR’ ua dr -35.2% SITE "REALTY GROUP. Centers 19 & InvenTrust Propert
Slide 20: Appendix
Inventrust erties appendix 20
Slide 21: Footnotes
er share value reflects to the extent applicable, property-level debt. “same Property’ refers to assets included in both the May 1, 2017 estimate of per share value and the May 1, 2018 estimate of per share value and excludes any dispositions and acquisitions between May 1, 2017 and May 1, 2018 “Tot
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