Nexus Industrial Reit · TSX:NXR.UN
Nexus Industrial Reit — Q1 2026 Earnings Presentation
11 slides from Nexus Industrial Reit's earnings presentation, May 12, 2026
Slide 1: Nexus Industrial REIT Announces First Quarter 2026 Financial Results
Nexus Industrial REIT Announces First Quarter 2026 Financial Results Net Income of $32.2 million; NOI(1) growth of 5.4% to $33.8 million; Normalized AFFO payout ratio(1) of 96.6% Toronto, Ontario, May 11, 2026 – Nexus Industrial REIT (the “REIT”) (TSX: NXR.UN) announced today its results for the fir
Slide 2: Summary of Results
Summary of Results (In thousands of Canadian dollars, except per unit amounts) Three months ended March 31, 2026 2025 $ $ FINANCIAL INFORMATION Operating Results Property revenues 46,019 44,754 NOI (1) 33,807 32,090 Net income and comprehensive income 32,176 33,151 Adjusted EBITDA (LTM) (1) 121,276
Slide 3: Portfolio Information
March 31, December 31, 2026 2025 (In thousands of Canadian dollars, unless stated otherwise) $ $ PORTFOLIO INFORMATION Total Portfolio Number of investment properties (2) 88 89 Investment properties fair value (excludes assets held for sale) 2,520,712 2,506,423 Gross leasable area (“GLA”) (in millio
Slide 4: Net Income
ceased during the three months ended March 31, 2026 as a result of change in application of accounting methodology, partially offset by a lower NOI of $0.6 million relating to straight-line rent adjustments attributed to changes in current lease arrangements, and $0.6 million relating to disposition
Slide 5: Annual Meeting Voting Results
Annual Meeting Voting Results Each of the matters set out in the REIT’s management information circular dated March 30, 2026 (the “Circular”) for the annual meeting of unitholders held on May 11, 2026 (the “Meeting”) was approved by the requisite majority of unitholders, and each of the trustee nomi
Slide 6: Forward Looking Statements
Forward Looking Statements Certain statements contained in this news release constitute forward-looking statements which reflect the REIT’s current expectations and projections about future results, including statements under the heading "Outlook" and regarding the REIT's expectations relating to gr
Slide 7: APPENDIX A – NON-IFRS FINANCIAL MEASURES
APPENDIX A – NON-IFRS FINANCIAL MEASURES (In thousands of Canadian dollars, except per unit amounts) Three months ended March 31, 2026 2025 Change FFO(6) $ $ $ Net income and comprehensive income 32,176 33,151 (975) Adjustments: Loss on disposal of investment properties 309 85 224 Fair value adjustm
Slide 8: AFFO
(In thousands of Canadian dollars, except per unit amounts) Three months ended March 31, 2026 2025 Change AFFO(6) $ $ $ FFO(6) 17,325 17,043 282 Adjustments: Straight-line adjustments, ground lease and rent (423) (1,046) 623 Capital reserve (2) (1,600) (1,600) — Adjusted funds from operations (AFFO)
Slide 9: Same Property Results and Adjusted EBITDA
SAME PROPERTY RESULTS (In thousands of Canadian dollars) Three months ended March 31, 2026 2025 Change $ $ $ Property revenues 46,019 44,754 1,265 Property expenses (12,212) (12,664) 452 NOI(1) 33,807 32,090 1,717 Add/(Deduct): Amortization of tenant improvements and leasing costs — 360 (360) Straig
Slide 10: NAV per unit and Total Indebtedness Ratio
NAV per unit (In thousands of Canadian dollars, except per unit amounts) March 31, December 31, 2026 2025 NAV per unit (1) $ $ Total assets 2,687,057 2,650,360 Less: Total liabilities (1,582,573) (1,567,071) Total unitholders equity 1,104,484 1,083,289 Add: Class B LP Units 186,243 199,636 NAV (1) 1
Slide 11: Adjusted Net Debt
ADJUSTED NET DEBT (In thousands of Canadian dollars) March 31, December 31, 2026 2025 $ $ Current and non-current: Mortgages payable 544,227 563,231 Credit facilities 772,569 731,019 Lease liabilities 10,586 10,613 Liabilities associated with assets held for sale 19,385 8,367 Total indebtedness(1) 1
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