Dream Industrial Real Estate Investment Trust · TSX:DIR.UN
Dream Industrial Real Estate Investment Trust — Investor Presentation (August 2026)
31 slides from Dream Industrial Real Estate Investment Trust's investor presentation, August 2026
Slide 1: Investor Presentation
Investor Presentation August 2026
Slide 2: Overview
Dream Industrial REIT 2 Overview 03 Our Company & Strategy 09 Business Overview 22 Financial Performance 1100 Courtneypark Drive East, Mississauga, ON, Canada Cover image: 220 Water Street, Whitby, Ontario
Slide 3: Our Company & Strategy
Exportweg 2–20, Waddinxveen, Netherlands Dream Industrial REIT Our Company & Strategy
Slide 4: Our Global Logistics Platform
Dream Industrial REIT 4 Our Global Logistics Platform $7B Dream Industrial + $10B Strategic = $17B Industrial Platform Key Highlights Investment Properties Private Ventures 75.7M SF 95.0% Owned and In-Place and Canada Continental Europe managed GLA 1 C ommitted $12.2B GAV $2.9B GAV Occupancy 2 48.7M
Slide 5: Q2 2026 Highlights
Dream Industrial REIT 5 Q2 2026 Highlights Diluted FFO per unit 1 was $0.28 in Q2 2026 representing a year -over-year increase of 7.8% , driven by strong organic 1 growth, capital deployment activities, and lease -up at our completed development projects. Announcement of a 2.5% distribution increase
Slide 6: Acquisition of Chancerygate Assets
Dream Industrial REIT 6 Acquisition of Chancerygate Assets Dream Industrial REIT announced the acquisition of Chancerygate’s wholly -owned development assets and co -investment interests, marking its entry into the U.K. multi -let industrial (“MLI”) market while accelerating the growth of its Europe
Slide 7: Expanded European Platform
Dream Industrial REIT 7 Expanded European Platform ~C$5B 27M sf GLA Chancerygate transaction adds Co -Owned and Managed, or ~$C2.2B or 8M sf of co -owned Owned & Managed GAV* and managed GAV and GLA Under Development* European Offices United Kingdom Netherlands Germany Ireland Czechia & Slovakia Fra
Slide 8: Our Strategic Pillars
Dream Industrial REIT 8 Our Strategic Pillars Resilient Urban Portfolio Development & Intensification Owner and operator of a high -quality Delivering modern and functional urban mid -bay industrial portfolio across industrial assets at attractive returns. supply -constrained markets. Strategic Priv
Slide 9: Business Overview
1602 Tricont Ave, Whitby, ON, Canada Dream Industrial REIT Business Overview
Slide 10: Urban Portfolio Overview
Resilient Urban Portfolio 10 Urban Portfolio Overview Urban infill locations near Suitable for warehousing, light Steady demand from a highly major population centres and assembly, industrial outside storage diverse occupier base highway networks and last -mile logistics Redevelopment optionality Li
Slide 11: Well-diversified Occupier Base
Resilient Urban Portfolio 11 Well -diversified Occupier Base Tenant Use of Space 1,2 Tenant Industry Exposure 1,2 Other Cold Storage 4% 2 Office 3% Other 22% Logistics 18% 4% Technology 5% Consumer Goods 15% Light Industrial Paper, Printing and 20% Packaging 5% Construction 6% Food and Distribution
Slide 12: Demonstrated Portfolio Resilience Across Multiple Market Cycles
Resilient Urban Portfolio 12 Demonstrated Portfolio Resilience Across Multiple Market Cycles High and Stable Occupancy 1 Strong Retention 100% 100% 97% 97% 98% 99% 95% 96% 96% 96% 96% 96% 95% 80% 80% 80% 78% 80% 74% 76% 74% 74% 74% 71% 72% 60% 60% 69% 40% 40% 20% 20% 2016 2017 2018 2019 2020 2021 20
Slide 13: Well-positioned for Organic Earnings Growth
Resilient Urban Portfolio 13 Well -positioned for Organic Earnings Growth In -place base rent growth (indexed to 2021) 1 Comparative properties NOI growth CAN in-place base rent EU in-place base rent YoY CP NOI growth Average 5-year growth 14.0% 100% 160 90% 150 12.0% 11.3% 10.5% 10.3% 80% 140 10.0%
Slide 14: Embedded Upside in Near-term Lease Maturities
Resilient Urban Portfolio 14 Embedded Upside in Near -term Lease Maturities Ontario Qu ébec $15.60 $18.00 2,400 $13.46 $18.00 2,400 Estimated Regional Estimated Regional Market Rent $15.00 2,100 Market Rent $12.36 $15.00 2,000 $11.33 1,800 $12.00 $10.73 1,600 $9.71 $12.00 1,500 $9.00 1,200 $9.00 1,2
Slide 15: Delivering High Quality and Modern Assets
Development & Intensification 15 Delivering High Quality and Modern Assets Greenfield Intensification Redevelopment of Development of Excess Land Existing Properties Delivered / Substantially completed in 2026 125K $25M 7.0% $1.7M+ GLA Total estimated cost Estimated unlevered yield Run -rate annual
Slide 16: Meaningful Medium to Long-Term Pipeline
Development & Intensification 16 Meaningful Medium to Long -Term Pipeline Underway $9M+ Run -rate annual 178K $23M 8.5% NOI contribution GLA Total estimated cost Estimated unlevered yield Projects in Planning 877K $110 - 120M 6% - 7% ~30% GLA Total estimated cost Estimated unlevered yield of current
Slide 17: Private Ventures at a Glance
Strategic Private Ventures 17 Private Ventures at a Glance Develop -to-Hold U.S. Industrial Fund DSI JV Joint Venture JV between Dream Industrial REIT and GIC The fund’s strategy is to invest in high -quality Dream Industrial partnered with a global which acquired Summit Industrial Income REIT core,
Slide 18: Private Capital as a Strategic Growth Engine
Strategic Private Ventures 18 Private Capital as a Strategic Growth Engine 39M+ SF $10B $21M+ Property management and leasing GLA Gross Asset Value fee revenue generated in 2025 Increasing Platform Scale Growing Management Revenue (Gross Asset Value) $12 $30 $25.8 $10 $9.4 $9.6 $25 $21.4 $8.2 $20.0
Slide 19: Securing Power Capacity for Data Centre Use
Power Procurement Program 19 Securing Power Capacity for Data Centre Use 13 600 MW+ 260 MW+ Sites currently under due Total potential critical load In advanced stages of securing diligence across Canada across Canada commitments of power in the GTA Existing Data Centres DIR Assets Under Feasibility
Slide 20: Capital Investments in Solar
Power Procurement Program 20 Capital Investments in Solar Delivered / Substantially Completed $34M 28 MW $2.3M Estimated cost of projects System capacity Solar NOI generated in 2025 Underway and Pipeline $160M 100 MW+ 8%+ Potential in investment volume Potential in investment pipeline targeted yield
Slide 21: Vertically Integrated Industrial Platform
Dream Industrial REIT 21 Vertically Integrated Industrial Platform Alex Sannikov Lenis Quan Bruce Traversy Gord Wadley President & CEO CFO CIO COO Richard Bains Shane Henke Andrew Cunningham Matthew Virgini Sjoerd Barmentloo Nilanjan Roy Managing Director VP, Head of Leasing VP, Leasing & Asset VP,
Slide 22: Financial Performance
Cross Iron Distribution Centre (Balzac 50 -acre), Calgary, AB, Canada Dream Industrial REIT Financial Performance
Slide 23: Track Record of Strong Total Returns
Financial Performance 23 Track Record of Strong Total Returns 250% Strong track record of delivering solid returns to unitholders through disciplined strategy execution 206% 200% 150% 100% 65% 50% 20% 12% 5% 8% 7% 8% 0% TSX Capped REIT DIR TSX Capped REIT DIR TSX Capped REIT DIR TSX Capped REIT DIR
Slide 24: Track Record of Robust Organic Growth
Financial Performance 24 Track Record of Robust Organic Growth Our high -quality portfolio has produced consistent and growing NOI over the past 5 years averaging mid -7% in CP NOI growth 1 Comparative properties NOI growth 1 1 YoY CP NOI growth Average 5-year growth 12% 11.3% 10.5% 10.3% 10% 8% 5.4
Slide 25: Delivering Consistent Earnings Growth Amid a Higher Refinancing Backdrop
Financial Performance 25 Delivering Consistent Earnings Growth Amid a Higher Refinancing Backdrop Executing on our strategic initiatives has driven over 8% FFO 1 per unit CAGR 2 since 2020 , despite absorbing a 200+ bps increase in our weighted average cost of debt alongside continued deleveraging 1
Slide 26: Conservative Balance Sheet with Ample Liquidity
Financial Performance 26 Conservative Balance Sheet with Ample Liquidity Robust balance sheet with superior tenant and portfolio diversification supports BBB (high) Investment Grade credit rating with Stable trends Strong and Flexible Balance Sheet Capital Structure 33% Net Total Debt -to-Total Asse
Slide 27: Enhancing Financial Flexibility
Financial Performance 27 Enhancing Financial Flexibility Net Total Debt -to-Normalized Adjusted EBITDAFV ratio (years) 1 has trended steadily downward alongside a ~4x increase in the unencumbered investment properties 1 pool since 2020; secured debt 1 is now 5.5% of total assets Focused de -leveragi
Slide 28: Staggered Debt Maturity Profile
Financial Performance 28 Staggered Debt Maturity Profile Well -staggered debt maturities and strong liquidity position provide financial flexibility $1,200M $1,000M $991M $841M $800M $747M Current available liquidity 1 $600M $250M Additional accordion $400M $419M option under the $400M credit facili
Slide 29: Thank You
Stevinlaan 4 Ede, Netherlands Thank You
Slide 30: Disclaimer
Dream Industrial REIT 30 Disclaimer Forward Looking Information This investor presentation may contain forward -looking information within the meaning of applicable securities legislation, including but not limited to statements relating to: the Trust’s objectives and strategies to achieve those obj
Slide 31: Disclaimer
Dream Industrial REIT 31 Disclaimer Non -GAAP Financial Measures, Ratios and Supplementary Financial Measures The Trust’s condensed consolidated financial statements are prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (“IFRS”) . In this
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