Peakstone Realty Trust · NYSE:PKST

Peakstone Realty Trust — Griffin Realty Trust — Corporate Update (August 2022)

20 slides from Peakstone Realty Trust's corporate update, Aug 5, 2022

  1. Slide 1: GRT Strategic Update August 5, 2022

    GRT Strategic Update August 5, 2022

  2. Slide 2: Disclosures: Forward-Looking Statements

    Disclosures 2 Forward-Looking Statements This presentation contains forw ard-looking statements w ithin the meaning of the Private Securities Litigation Reform Act of 1995 based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes a

  3. Slide 3: Disclosures (continued)

    Disclosures (continued) 2 Our stockholders are cautioned not to place undue reliance on any forw ard-looking statement in this presentation. All forw ard-looking statements are made as of the date of this presentation, and the risk that actual results will differ materially from the expectations exp

  4. Slide 4: Participants

    Participants Michael Escalante Chief Executive Officer, President and Director Javier Bitar Chief Financial Officer and Treasurer 2

  5. Slide 5: Agenda

    Agenda 2 GRT Overview Real Estate and Capital Markets NAV SRP Strategic Monetization Process

  6. Slide 6: GRT Overview

    GRIFFIN REALTY a ee Se Gt GRT Overview

  7. Slide 7: GRT Overview

    GRT Overview Internally managed, publicly registered, non-traded REIT GRT Portfolio Composition* Office 84% of portfolio 98 assets GRT Key Metrics* 88% leased Enterprise Value $5.1 billion Number of Properties 121 Number of States 26 % Occupancy 92.7% WALT 6.1 66.2% Investment Grade** 66.2% Industri

  8. Slide 8: Real Estate and Capital Markets

    Real Estate and Capital Markets 10

  9. Slide 9: Real Estate Market

    Real Estate Market Strengths Strong fundamentals; demand exceeds supply Benefits from rising e-commerce and on- shoring trends Rental rates / values rising Strong investor interest Pressures Higher construction costs due to inflation High prices / low cap rates for acquisitions Strengths Recent posi

  10. Slide 10: Capital Markets

    Capital Markets 10 Commercial real estate transactions and debt & equity capital markets continue to face challenges due to economic uncertainty, rising concern about inflation and higher interest rates and reluctance to transact Public market REIT pricing reflects more pronounced reductions in COVI

  11. Slide 11: NAV Update

    NAV Update 10

  12. Slide 12: NAV Update

    NAV Update The decrease in GRT’s NAV was primarily driven by changes in fair value of office assets1 Office property values were negatively impacted by, among other things, pandemic-related work-from-home trends Industrial property values generally improved due to, among other things, increased dema

  13. Slide 13: SRP Update

    SRP Update 20

  14. Slide 14: SRP Update

    SRP Update 20 Effective August 5, 2022, GRT adopted a Second Amended and Restated Share Redemption Plan (“SRP”) Redemptions under the SRP will be limited to those in connection with stockholder death, qualifying disability or determination of incompetence or incapacitation (DD&I) Commencing this qua

  15. Slide 15: Strategic Monetization Process

    Strategic Monetization Process 20

  16. Slide 16: IndustrialCo Separation

    IndustrialCo Spin off new public company, “IndustrialCo,” which will own a curated portfolio of primarily industrial assets, as well as certain office assets IndustrialCo's common shares to be listed (via direct listing with or without capital raise) Stockholders to receive liquidity through receipt

  17. Slide 17: Why the Separation?

    Why the Separation? 20 GRT’s Management, Board, and its financial advisors believe that placing a curated selection of primarily industrial assets, as well as certain office assets (which are generally valued favorably by the public market relative to its other assets) into a publicly traded vehicle

  18. Slide 18: Why the Conversion?

    Why the Conversion? 20 GRT seeks stockholder approval to convert from a Maryland corporation to a Maryland real estate investment trust (the “Conversion”) The Conversion is important because it: Enables GRT’s Board to pursue the Separation in a manner that does not result in substantial adverse tax

  19. Slide 19: Timing / Next Steps

    August 5: File Preliminary Proxy/NAV Update/Second Amended and Restated SRP August-Mid Oct: Proxy Solicitation Period GRT operates Company consistent with strategic monetization process, including: Intended sale of targeted assets General preparation for Separation Mid October: GRT Annual Stockholde

  20. Slide 20: Additional Resources

    Ad ditional Resources Griffin Realty Trust Website grtreit.com Either click the button labeled “GRT Strategic Update” or click INVESTORS button in upper right corner to access numerous documents, including: Presentation from GRT’s Management Publicly filed documents including GRT’s Form 8-K SRP-rela

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