Northview Residential REIT · TSX:NRR.UN
Northview Residential REIT — Q2 2026 Earnings Presentation
26 slides from Northview Residential REIT's earnings presentation, Aug 25, 2026
Slide 1: Investor Presentation Q2 2026
Investor Presentation Q2 2026 Date of release – August 25, 2026
Slide 2: Disclaimer
Disclaimer Certain information contained in this presentation constitutes forward-looking information within the meaning of applicable securities laws. Statements that reflect Northview Residential REIT’s (“Northview” or the “REIT”) objectives, plans, goals, and strategies are subject to risks, unce
Slide 3: Northview Residential REIT
TSX: NRR.UN Northview Residential REIT Northview is one of Canada's largest publicly traded multi-residential REITs with nearly $2.6 billion in assets uniquely positioned in secondary markets across Canada Our Portfolio NOI% by Region2 12,785 Multi-Residential Suites 37% Northern Canada 36% 18% West
Slide 4: Q2 2026 Highlights
TSX: NRR.UN Q2 2026 Highlights +3.9% +0.2% +240 bps Same Door Same Door Increase in Average Monthly Multi-residential Commercial Rent Growth1 NOI growth1 Occupany1 $0.52 64.7% 10.8x FFO per Unit2 AFFO Payout Debt to Adjusted Ratio2 EBITDA3 1. Q2 2026 compared to Q2 2025 2. FFO per Unit (basic) and A
Slide 5: Q2 2026 At a Glance
TSX: NRR.UN Q2 2026 At a Glance Three Months ended Three Months ended June 30, 2026 June 30, 2025 Operational Performance Multi-residential Same Door Occupancy1 94.9% 96.1% Multi-residential Same Door AMR1 $1,542 $1,484 Financial Performance FFO per Unit (basic) 2 $0.52 $0.53 AFFO Payout Ratio (basi
Slide 6: Investment Thesis
TSX: NRR.UN Investment Thesis Northview’s diversified portfolio and strong operational performance position it to generate earnings growth and Unitholder value Solid Multi- Sustained 1 family 2 Performance Fundamentals Compelling Sustainable Active Debt 3 Valuation 4 Distributions 5 Management Inves
Slide 7: Solid Multi-Residential Fundamentals Amid Economic Uncertainty
Solid Multi-Residential Fundamentals Amid Economic Uncertainty HOUSING GAP PERSISTS AMID HIGHER SUPPLY AND SLOWER IMMIGRATION • Canada needs between 430,000 and 480,000 new homes per year, through 2035, to restore to 2019 affordability levels 1. • 2025 housing completions up 6% to 259,000 units2 hig
Slide 8: Steady Performance in Multi-residential
1 2 3 4 5 Steady Performance in Multi-residential Sustained Performance Northview’s multi-residential portfolio continues with stable NOI supported by steady growth in AMR $1,542 Same Door multi-residential NOI remained steady with a modest 0.2% increase 2, driven by stable revenue growth offset by
Slide 9: Positive Momentum in Commercial Portfolio
1 2 3 4 5 Positive Momentum in Commercial Portfolio Sustained Performance Occupancy continues to improve with positive net absorption within the Atlantic and Central Canada commercial portfolios • Total occupancy improved 250 bps to 86.3% in Q2, 2026 from Q2, 2025 driven by increased leasing activit
Slide 10: Compelling Valuation
1 2 3 4 5 Compelling Valuation Compelling Valuation Northview has a compelling valuation proposition with a trading discount to NAV and lower AFFO Multiple, offering significant upside potential Discount to Consensus NAV 1 AFFO Multiple 1 • Uncertainty in the macro environment has created capital ma
Slide 11: Sustainable Distributions at Attractive Yields
1 2 3 4 5 Sustainable Distributions at Attractive Yields Sustainable Distributions Delivering Stable Distributions Backed by Solid Earnings Growth AFFO Payout Ratio 1 Distribution Yield 2 1 3 2 • Stabilized AFFO payout ratio, supported by steady FFO from consistent Same Door NOI and interest savings
Slide 12: Mortgage Summary
1 2 3 4 5 Mortgage Summary Active Debt Management Staggered mortgage maturities reduce interest rate exposure on refinancing • Management anticipates further credit facility interest savings will more than offset the impact of higher interest rates from 2026 mortgage renewals • In addition to solid
Slide 13: Active Debt Management
1 2 3 4 5 Active Debt Management Active Debt Management Northview remains committed to strengthening its balance sheet, simplifying its debt structure and enhancing financing flexibility Credit Facility Amendments Strengthening the Balance Sheet Effective July 14, 2026, Northview amended its Syndica
Slide 14: Investment Thesis
TSX: NRR.UN Investment Thesis Northview’s diversified portfolio and strong operational performance position it to generate earnings growth and Unitholder value Strong Multi-family Sustained 1 Fundamentals 2 Performance Housing Completions Required by 20301 Same Door NOI Growth2 3.2 million 0.2% Fede
Slide 15: Environmental, Social, and Governance (ESG)
Environmental, Social, and Governance (ESG) Northview’s inaugural Sustainability Highlights Report highlights progress across key ESG priorities At a Glance: Environment Social Governance Committed to responsible Committed to advancing employee Committed to acting with honesty, environmental steward
Slide 16: Corporate Overview
Corporate Overview ae Northview
Slide 17: Aligned Sponsors and Institutional Relationships
Aligned Sponsors and Institutional Relationships Northview benefits from a strong Board of Trustees and Institutional support Board of Trustees Daniel Drimmer1, Chairman Daniel is the Founder and Chief Executive Officer of Starlight Investments and has 5% led significant amounts of real estate trans
Slide 18: Northview's Experienced Management Team
Northview’s Experienced Management Team Northview has a highly experienced internal management team, who have a proven track record of value creation for investors Todd Cook Sarah Walker Linay Freda Karl Bomhof President & Chief Executive Officer Chief Financial Officer Vice President, Operations Vi
Slide 19: Contact Information
Contact Information Todd Cook President & Chief Executive Officer tcook@nvreit.ca Sarah Walker Chief Financial Officer swalker@nvreit.ca General Investor Inquiries investorrelations@nvreit.ca (403) 531-0720 Investor Presentation | 19
Slide 20: Appendix – Our Core Regions
Appendix — Our Core Regions Northview
Slide 21: Northern Canada
Northern Canada Arctic Bay, NU • Northview is the largest private sector landlord and owner of income producing properties in these territories. Pond Inlet, NU Inuvik, NT • The real estate market in the territories is characterized by high rental rates and low vacancy rates. Permafrost, a short Camb
Slide 22: Western Canada
Western Canada British Columbia (6.7% of NOI1; AMR2 - $1,230; Occupancy2 – 96.8%) Taylor, BC • Northern BC’s economy has a predominant focus on the energy Fort St. John, BC and natural resource sector, which includes large hydroelectric dams, biomass facilities and wind farms. Slake Lake, AB Fort Mc
Slide 23: Atlantic Canada
Atlantic Canada New Brunswick (4.8% of NOI1; AMR2 - $1,161; Occupancy2 – 95.6%) • The economy in New Brunswick is closely tied to its exports and primary industries of agriculture, aquaculture, forestry, mining and manufacturing. Labrador City, NL • The economy and real estate market has been buoyed
Slide 24: Central Canada
Central Canada Manitoba (5.5% of NOI1; AMR2 - $1,218; Occupancy2 – 96.6%) • Winnipeg is home to many of Canada’s leading international agribusiness companies and has the largest center for transportation manufacturing in North America. Other major industries include Aerospace, Finance, Hospitality,
Slide 25: Commercial and Execusuite Portfolio
Commercial and Execusuite Portfolio • Commercial portfolio consists of 69% office, 18% warehouse and storage, and 13% retail, along with 200 execusuites Inuvik, NT • Commercial and Execusuites portfolio represents Iqaluit, NU approximately 15% of consolidated Northview NOI Yellowknife, NT • Total co
Slide 26: Northview
Northview
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