Granite Real Estate Investment Trust · TSX:GRT.UN
Granite Real Estate Investment Trust — Shareholder Meeting (June 2025)
16 slides from Granite Real Estate Investment Trust's shareholder meeting presentation, Jun 5, 2025
Slide 1: Annual General Meeting of Granite Real Estate Investment Trust
Annual General Meeting of Granite Real Estate Investment Trust June 5, 2025
Slide 2: Presentation of Certain Information
PRESENTATION OF CERTAIN INFORMATION • Unless otherwise indicated in this presentation, all information is presented as of December 31, 2024 and all financial information that is identified as current refers to the period ending December 31, 2024. For definitions of certain non-GAAP performance measu
Slide 3: Granite Highlights
GRANITE HIGHLIGHTS (as at December 31, 2024) ORGANIZATIONAL PRINCIPLES PORTFOLIO OVERVIEW FINANCIAL PERFORMANCE • Long-term total return • 138 income-producing • 68% LTM AFFO POR1 focused properties + 5 • 32% net leverage ratio1 development properties • Conservative and flexible • 5.9% constant curr
Slide 4: Granite's Evolution
GRANITE’S EVOLUTION Investment Property Summary Then - December 31, 2012 Now – December 31, 2024 0.6M SF Flex/Office2 48.8M SF 16.2M SF 11.8M SF $159M Distribution/E- Special Purpose Multi-Purpose2 commerce3 $970M $690M 5.0M SF $6,797M Industrial/Warehouse2 $1.7B $1,131M $9.4B Value 8.9M SF Value Sp
Slide 5: Globally Diversified Portfolio
GLOBALLY DIVERSIFIED PORTFOLIO 5 countries – 143 properties – 63.3 million square feet GERMANY 14 properties 4.7M SF CANADA 38 properties 6.9M SF NETHERLANDS 1 16 properties 2 5.4M SF 4 UNITED STATES 66 properties Special Purpose 38.8M SF 7 AUSTRIA Properties 9 properties 7.5M SF Global footprint wi
Slide 6: Highlights for 2024
HIGHLIGHTS FOR 2024 Financial and Operational Performance 6.00 CAGR FFO1 and AFFO1 per unit of $5.44 and $4.86, respectively FFOPU: +8.5% 5.44 5.50 1 representing a year-over-year increase of 9.5% and 8.0%, AFFOPU: +6.7% respectively 4.97 5.00 4.86 FFO and AFFO payout ratios1 improved to 61% and 68%
Slide 7: Highlights for 2024
HIGHLIGHTS FOR 2024 Strategic Allocation of Capital 3 expansion & development projects completed for 1 $107M (0.5MSF of GLA) at an average yield on cost of 6.8% $800M of Debentures issued in Granite’s largest dual tranche bond offering to refinance near-term Ajax, Ontario unsecured loan maturities,
Slide 8: Highlights for 2024
HIGHLIGHTS FOR 2024 ESG + R Performance Ranked 1st out of 10 in the United States of America | 1 Industrial GRESB peer group for the 2024 GRESB Public Disclosure Level, achieving an A score Ranked 1st out of 7 in the North American Industrial | Listed | Tenant Controlled peer group in 2024. While Gr
Slide 9: Case Study: Brantford, Ontario
CASE STUDY: BRANTFORD, ONTARIO Strategically located, the property has immediate access to Hwy 403 offering connectivity to the GTA, Kitchener-Waterloo and US border The property was developed as a build-to-suit production/distribution facility for Barry Callebaut, a leading global manufacturer
Slide 10: Highlights for 2024
HIGHLIGHTS FOR 2024 Unitholder Return and Increased Distribution Cumulative Total Return2 % -4.3% total return for 20242 vs -1.9% for the S&P/TSX 350% 1 Capped REIT Index and 21.7% for the S&P/TSX Composite 325% Index 300% 275% 3.03% year-over-year increase in the annual amount 250% 2 distributed to
Slide 11: 2025 Priorities
2025 PRIORITIES PRIORITY PROGRESS TO DATE Driving FFO1 and NAV per unit growth while maintaining FFOPU1 outlook of $5.70 - $5.85 for 2025 (+5% to +8% YoY) 1 conservative capital ratios Q1 2025 Net Debt1-to-EBITDA 6.8x and Net Leverage1 32% Actively managing its income-producing portfolio and R
Slide 12: Leadership Team
LEADERSHIP TEAM Kevan Gorrie Teresa Neto Lorne Kumer Michael A. Ramparas President and Chief Executive Officer Chief Financial Officer Executive Vice President, Executive Vice President, Global Head of Global Real Estate Real Estate & Head of Investments Witsard Schaper Lawrence Clarfield Jon Sorg S
Slide 13: Investor Relations Contact
INVESTOR RELATIONS CONTACT Andrea Sanelli Senior Director, Legal & Investor Services T: 647.925.7504 E: ir@granitereit.com 13
Slide 14: Appendix
APPENDIX The following non-GAAP performance measures and non-GAAP ratios are important measures used by management in evaluating the Trust’s underlying operating performance and debt management. These non-GAAP performance measures and non-GAAP ratios are not defined by IFRS® Accounting Standards a
Slide 15: Appendix
APPENDIX Same property net operating income - cash basis Same property NOI - cash basis refers to the NOI - cash basis for those properties owned by Granite throughout the entire current and prior year periods under comparison. Same property NOI - cash basis excludes properties that were acquired, d
Slide 16: Appendix
APPENDIX B) NON-GAAP RATIOS FFO and AFFO payout ratios The FFO and AFFO payout ratios are calculated as monthly distributions, which exclude special distributions, declared to unitholders divided by FFO and AFFO (non-GAAP performance measures), respectively, in a period. FFO payout ratio and AFFO pa
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