Fibra Macquarie Mexico · BIVA:FIBRAMQ/12
Fibra Macquarie Mexico — Q4 2024 Earnings Presentation
33 slides from Fibra Macquarie Mexico's earnings presentation, Jun 8, 2025
Slide 1: FIBRA Macquarie México Investor Presentation Fourth Quarter 2024
FIBRA Macquarie México Investor Presentation Fourth Quarter 2024 1
Slide 2: Important information
Important information This document has been prepared by Macquarie Asset Management No risk control mitigant is failsafe. Notwithstanding the mitigants The growth opportunities described herein are not necessarily México, S.A. de C.V. (“MAM Mexico”), as manager, acting in the name described herein,
Slide 3: Overview
Overview High quality industrial-focused portfolio in prime markets1 Tijuana Mexicali 25/6.0% 13/3.0% Nogales 2/2.8% Cd. Juárez 36.4m sqft US$3.4bn 36/13.4% Hermosillo Gross leasable Total assets 11 / 5.3% area2 Chihuahua 12/3.4% Nuevo Laredo Reynosa 9/3.1% 20/8.1% Los Mochis Matamoros 1 / 0.6% Mont
Slide 4: Leveraging a well-positioned platform to create value
Leveraging a well-positioned platform to create value Strong Portfolio High quality industrial focused portfolio Pro pe r ty M 1 a na ge Vertically integrated Property Administration Platform m 2 en t elopment Program 3 Propietary Development Program with attractive pipeline Dev Robust financial and
Slide 5: Foundation of FIBRA Macquarie’s growth strategy
Foundation of FIBRA Macquarie’s growth strategy Internal Real Estate Value External Growth Maximazation Growth Delivering strong Same Store Enhance and create value from Growth through opportunistic NOI growth existing real estate asset base and disciplined development and acquisitions All while mai
Slide 6: FIBRAMQ has a demonstrated track record of long-term value creation
FIBRAMQ has a demonstrated track record of long-term value creation Growth of Real Estate Players in Mexico (Base = 1.00 as of January 1, 2021) NAV/CBFI (US$, Indexed) FIBRAMQ Peer 1 Peer 2 Peer 3 62.9% 60.0% 44.6% 40.0% 41.0% 20.0% 8.5% 0.0% (20.0%) 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 1Q'22 2Q'22 3Q'22 4
Slide 7: Sound operating and financial metrics
Sound operating and financial metrics Industrial Negotiated Renewal Lease Spreads Industrial Same Store NOI1 Weighted average rental rate increase (EOP) (US$, YoY% variance) 8.2% 22.0% 6.6% 6.7% 18.6% 16.9% 5.0% 16.5% 13.0% 4.0% 11.8% 4Q23 1Q24 2Q24 3Q24 4Q24 4Q23 1Q24 2Q24 3Q24 4Q24 Negotiated Rene
Slide 8: Internal, vertically-integrated property administration platform
Internal, vertically-integrated property administration platform ▪ MPA, a subsidiary of FIBRAMQ, is an integral service platform with a high-quality team shaped by On-the-ground presence in 10 markets across Mexico allows MPA to ~90 professionals address customer needs 24/7 – MPA is an employer of c
Slide 9: Robust long-term market dynamics
01 Robust long-term market dynamics 9
Slide 10: Market fundamentals driving growth
Market fundamentals driving growth Mexico remains a resilient trade partner in North America's integrated supply chain, anchored by strategic advantages such as nearshoring, EV transition and Ecommerce, even as markets navigate uncertainty Real estate Supply chain Nearshoring market dynamics Demogra
Slide 11: Perspective on recent market events
Perspective on recent market events Despite current geopolitical uncertainties, Mexico remains a crucial player in global supply chains and is a competitive place to do business with its North American partners Mexican government’s policy initiatives FIBRAMQ positioning Maintaining Mutually Benefici
Slide 12: Mexico is continuing to play an important role in the global supply chain
Mexico is continuing to play an important role in the global supply chain Avg. manufacturing wages (US$/hr)1 U.S. imports – US$bn2 Strategic position in global trade Mexico China Mexico China ● Competitive labor costs and 6.7 skilled workforce support manufacturing competitiveness 5.6 506 439 2.0 36
Slide 13: Industries supporting Mexico’s real estate sector
Industries supporting Mexico’s real estate sector Ecommerce sales growth (US$bn)1 Auto parts sector at record levels (US$bn)2 Domestic Market Exports % Change YoY 20.1% 13.2% 13.4% CAGR 76% 1.5% 6.8% 0.7% 2.3% 2.4% -19.4% Ecommerce sales growth (2019 – 2023): 115 122 124 128 MXN: 35% | USD: 38% 107
Slide 14: Growth pipeline
FIBRA Macquarie MACQUARIE México 02 Growth pipeline
Slide 15: Proven development platform
Proven development platform Prudently expanding portfolio through high quality industrial developments in core industrial markets Expanding portfolio Industrial completed/In progress developments 38 US$257.0m ● Target markets: Tijuana, Ciudad Juarez, Monterrey, Reynosa, MCMA, and Guadalajara ● Over
Slide 16: Growth capex projects
Growth capex projects ► ~0.6m sqft of growth GLA under development or stabilization Monterrey ► LTD US$257m of expansions and development completed or committed at ~11.0% yield, totaling 3.7m sqft of GLA ► Acquisition of 9.6Ha in Guadalajara for a development project of two Class A industrial buildi
Slide 17: Quality portfolio
FIBRA Macquarie MACQUARIE México O03 Quality portfolio
Slide 18: Ideally positioned to support Mexico’s manufacturing and logistics industries
Ideally positioned to support Mexico’s manufacturing and logistics industries Industrial highlights ● Strongest presence in 76.2% 3.4 25.1% Northern states of Mexico, a ABR1 from the Northern Weighted average lease ABR1 contribution of high industrial demand region, and Border states term remaining
Slide 19: Defensive, high quality retail portfolio
Defensive, high quality retail portfolio Retail highlights ● Defensive portfolio primarily 82.1% 3.6 42.0% in Mexico City Metropolitan located in top three retail Weighted average lease ABR2 contribution of Area (MCMA), Mexico’s top markets of Mexico1 term remaining in years Top 10 customers retail
Slide 20: Prudent capital management
04 Prudent capital management 20
Slide 21: Well-positioned balance sheet
Well-positioned balance sheet1 5.6% 97.3% US$319m of debt denominated in Undrawn committed Average cost of debt US$ revolver 99.4% 32.6%2 3.8 years Average debt tenor Fixed rate debt Real Estate Net LTV remaining 5.1x 63.0% 72.7% Green financing and Net debt/EBITDA ratio3 Assets unencumbered4 sustai
Slide 22: Reliable financial performance
05 Reliable financial performance 22
Slide 23: Solid performance and prudent distribution payout ratio
Solid performance and prudent distribution payout ratio Net operating income (NOI)1 (US$ per CBFI) 0.22 0.23 0.23 0.23 0.24 0.28 0.29 0.35 (US$m) 226 211 0.30 177 175 186 200 172 172 0.25 0.20 100 0.15 0.10 0.05 - 0.00 2018 2019 2020 2021 2022 2023 2024 NOI Margin (%) 87.5% 87.8% 87.4% 87.7% 87.4% 8
Slide 24: Solid performance and prudent distribution payout ratio
Solid performance and prudent distribution payout ratio Net operating income (NOI)1 (Ps. per CBFI) 6,000 6 4.84 5.23 (Ps. m) 4.43 4.65 4.93 4.91 4.22 4,131 5 3,693 3,542 3,753 3,739 4,000 3,307 3,403 4 3 2,000 2 1 - 0 2018 2019 2020 2021 2022 2023 2024 NOI Margin (%) 87.5% 87.8% 87.4% 87.7% 87.4% 86
Slide 25: Sustainability focus
FIBRA Macquarie MACQUARIE México O06 Sustainability focus
Slide 26: Sustainability at the core of our business
Sustainability at the core of our business 2040 Net Zero Plan KPIs, Goals and Certifications Green Building Certification program ● FIBRA Macquarie commits to support a goal of net zero greenhouse gas emissions by 2040, in line with global efforts to limit warming to Green building certification 1.5
Slide 27: Alignment with investors and value creation
Alignment with investors and value creation Corporate governance and fee construct are aligned with investors interest and value creation 1 Fees 2 Governing bodies ● Base management fee of 1% per annum of market capitalization Technical Committee paid every six months ● FIBRAMQ has 7 out of 8 Indepe
Slide 28: Appendix
FIBRA Macquarie MACQUARIE México Appendix
Slide 29: 4Q24 highlights and FY24 highlights
4Q24 highlights and FY24 highlights Financial / balance sheet Operational Strategic initiatives AFFO Rental Rates Growth capex 4Q24 Ps. 0.7315/CBFI1 (+10.6% QoQ / +2.0% YoY) Industrial 6.22 US$/sqm/m (+1.3% QoQ / +5.8% YoY) • ~0.6 million sqft of industrial GLA in development FY24 Ps. 2.6330/CBFI1 (
Slide 30: Key operating and financial metrics
Key operating and financial metrics 4Q24 Key Metrics FY24 Key Metrics US$6.22 Industrial rental rates NOI per CBFI1 NOI1 Ps. 1.3951 Ps. 4,115.9m (Ps: +9.5% YoY) sqm/m (+1.3% QoQ; +5.8% YoY) (Ps:+3.6% QoQ; +16.9% YoY) Industrial occupancy EOP NOI per CBFI1 AFFO per CBFI 95.8% (-134 bps QoQ; -229 bps
Slide 31: Industrial development and expansions
Industrial development and expansions # of Incremental GLA Investment Completion / Expected NOI Contribution Initial Lease Project City NOI Yield1 Projects ('000 sqft) (eUS$m) Completion Date term (years) Expansions (inception to date) Total 27 1,054 51.2 11.7% Actual 8.5 Developments delivered to o
Slide 32: Development case studies
Development case studies Mexico City - Cuautitlan Monterrey - Apodaca Ciudad Juarez – Sur/Sureste ● 15ha site in Mexico City ● 21ha development and a 25ha site acquired in 2Q24, ● 51ha site in Ciudad Juarez both in Monterrey’s most prominent industrial ● Completed first Class A building with capacit
Slide 33: Development case studies (cont’d)
Development case studies (cont’d) Tijuana – Libramiento Reynosa - Poniente ● 25ha site in Tijuana ● 8ha site in Reynosa – Building 1 385k sqft to be delivered during 1H25 ● Completed 2 class A industrial building of 288k sqft GLA out of 3 buildings ● Developing 3 Class A industrial buildings ● 107k
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