Crombie Real Estate Investment Trust · TSX:CRR.UN

Crombie Real Estate Investment Trust — Q4 2025 Earnings Presentation

16 slides from Crombie Real Estate Investment Trust's earnings presentation, Feb 11, 2026

  1. Slide 1: The Essential REIT

    The Essential REIT Q4 2025 Conference Call | February 11, 2026

  2. Slide 2: Cautionary Statements

    Cautionary Statements Forward-looking Information Non-GAAP Measures This presentation contains forward-looking statements that reflect the current expectations of Certain terms used in this presentation, such as AFFO, FFO, SANOI, debt to trailing 12 months adjusted management of Crombie about Crombi

  3. Slide 3: Solid Results Across Key Operating and Financial Metrics

    Solid Results Across Key Operating and Financial Metrics COMMITTED OCCUPANCY RENEWAL SPREADS FY 2025 FY 2025 97.7% 10.4% FY 2024: 96.8% +0.9% FY 2024: 9.8% +0.6% COMMERCIAL SAME-ASSET PROPERTY PROPERTY REVENUE CASH NOI1 FY 2025 FY 2025 $488,711 $329,872 FY 2024: $471,025 +3.8% FY 2024: $318,173 +3.7

  4. Slide 4: Building Together

    Building Together Enriching communities by building spaces and value today that leave a positive impact on tomorrow VALUE CREATION Own & Operate Optimize Partner SOLID FOUNDATION Financial Strength ESG People & Culture COPYRIGHT © CROMBIE REIT OR ITS LICENSORS. ALL RIGHTS RESERVED 2025 4

  5. Slide 5: Grocery-Anchored Retail Portfolio with Strategic Complementary Assets

    Grocery-Anchored Retail Portfolio with Strategic Complementary Assets Three of the Most Desirable Asset Types in Canadian Real Estate1 Retail Retail-Related Industrial Mixed-Use Residential $4.8B 15.0M $0.6B 2.5M $0.5B 0.6M FAIR VALUE SQ. FT. FAIR VALUE SQ. FT. FAIR VALUE SQ. FT. SCALE 308 $6.2B 18.

  6. Slide 6: Portfolio Activity – Allocating Capital Toward Necessity-based Retail

    Portfolio Activity – Allocating Capital Toward Necessity-based Retail 2025 ACQUISITIONS • 100% interest in five grocery anchored retail properties, totalling 197,000 sq. ft. for $49.7M excluding closing and transaction costs o Springdale, NL o Glace Bay, NS o Barrington Passage, NS o Campbellton, NB

  7. Slide 7: Retail Support Centre Industrial Property Acquisition – Whitby, ON

    Retail Support Centre Industrial Property Acquisition – Whitby, ON 100% interest in grocery-related industrial asset 1 ABOUT THE PROPERTY Located in an established industrial node in Port Whitby and features 37-ft. clear height suitable for high-bay racking, 90 loading docks, a 240,000 sq. ft. refri

  8. Slide 8: Four Key Levers for Flexibility in Both Non-Major and Major Developments

    Four Key Levers for Flexibility in Both Non-Major and Major Developments NON-MAJOR MAJOR Projects less than $50M Projects greater than $50M MODERNIZE INTENSIFY ENTITLE DEVELOP • Capital investments in existing • Adding GLA and/or repurposing • Advancing key sites through • Large-scale, transformativ

  9. Slide 9: Strategic Alignment with Empire

    Strategic Alignment with Empire EMPIRE REPRESENTS 1 1 11.5M 60.6% 9.9 years1 90.5% sq. ft. of occupied of AMR generated weighted average remaining Empire of retail properties portfolio GLA by Empire lease term anchored by Empire CAPITALIZING ON STRATEGIC ALIGNMENT ACQUISITIONS LAND-USE INTENSIFICATI

  10. Slide 10: Partnering for Responsible Growth

    Partnering for Responsible Growth PROPERTIES– HALIFAX STRATEGIC BENEFITS MONTEZ CORPORATION Halifax, N.S. THE MARLSTONE • Entitlement-driven value Completion expected Q2 2026 creation BARRINGTON STREET Entitlement • Reduced capital BRUNSWICK PLACE requirements and Entitlement enhanced flexibility •

  11. Slide 11: Delivering Consistent and Steady Cash Flow Growth

    Delivering Consistent and Steady Cash Flow Growth Q4 2025 Q4 2024 Q4 2023 Property Revenue $122,118 $121,595 $116,986 Operating Income attributable to Unitholders $25,235 $76,143 $26,295 1 FFO per Unit $0.33 $0.32 $0.30 1 AFFO per Unit $0.29 $0.28 $0.26 1 FFO Payout Ratio 69.2% 70.3% 73.7% 1 AFFO Pa

  12. Slide 12: Persistent Pursuit of Delivering Operational Excellence

    Persistent Pursuit of Delivering Operational Excellence RENEWALS1 Q4 2025 TOTAL GLA Committed Occupancy 239,000 sq. ft. 18.3m sq. ft1 VECTOM - 99.2% Q4 2024: 171,000 sq. ft. +39.8% 97.7% Major Markets - 96.8% committed occupancy Regional Markets - 97.1% RENEWAL SPREADS1 Q4 2025 10.0% AVERAGE ANNUAL

  13. Slide 13: Q4'25 Financial Highlights

    Q4’25 Financial Highlights OPERATING INCOME ATTRIBUTABLE Property Revenue Growth TO UNITHOLDERS PER UNIT Q4'25 0.4% Revenue from Q4 2025 management & $0.14 Q3'25 4.9% development services: Q4 2024: $0.41 -65.9% Q2'25 6.4% Q1'25 3.5% FFO1 PER UNIT Q4'24 3.9% $2.5M Q4 2025 Q4 2025 Commercial Same-Asse

  14. Slide 14: Well-Positioned Defensive Portfolio with Long–Term Earnings and Cash Flow Stability

    Well-Positioned Defensive Portfolio with Long–Term Earnings and Cash Flow Stability CAPITAL STRUCTURE AS AT DECEMBER 31, 2025 3 $3.9B3 Fair Value of Unencumbered Assets 43.5% 19.0% $669M3 52.1% Available Liquidity 50.7% 48.9% 2 45.3% 45.2% 45.7% 45.5% 3.39X 44.6% Interest Coverage 43.6% 43.0% 41.8%

  15. Slide 15: People & Culture

    People & Culture Empowering Talent, Building Together, & Delivering Impact Mentorship opportunities Leadership training Continuing education Prioritize diversity, equity, and inclusion Flexible work policies Emphasis on well-being A workplace where collaboration, innovation, and accountability thriv

  16. Slide 16: The Essential REIT Building Together

    THE ESSENTIAL REIT Building Together COPYRIGHT © CROMBIE REIT OR ITS LICENSORS. ALL RIGHTS RESERVED 2025

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