Dream Unlimited Corp. Class A · TSX:DRM
Dream Unlimited Corp. Class A — Dream Office REIT — Q3 2024 Earnings Presentation
29 slides from Dream Unlimited Corp. Class A's earnings presentation, November 2024
Slide 1: Dream Office REIT
dream i: office REIT
Slide 2: Portfolio key figures
84.5% 5.1 million $2.6 billion 82% FV in Toronto Downtown(1 )
Slide 3: Market position highlights
3rd 96.5 3rd ~20% 2nd largest ~40%
Slide 4: Key portfolio metrics
5.2 years $1.9 billion 88.0% 82% exposure by fair value(1 )
Slide 5: Active properties and owned sf
166 Active properties 23 million Owned sf
Slide 6: Income producing properties
26 Income producing properties 5.1 million Owned sf
Slide 7: Assets sold, debt repaid and returned to unitholders
$4 Billion + ~$2 Billion ~$2 Billion Assets sold Debt Repaid and Transferred Returned to Unitholders through Share Buybacks and Distributions
Slide 8: Strong Management Alignment Through Significant Insider Ownership
Dream Office REIT 8| Me Strong Management Alignment Through Significant Insider Ownership ~33.8%* Investment in Dream Office REIT by Dream Unlimited Corp. and insiders In addition, Dream Unlimited Corp. manages Dream Office REIT’s developments and Dream Office REIT manages Dream Unlimited Corp.’s pr
Slide 9: Debt level, liquidity and interest rate
51.9% $169 million 4.73% W.A. Face Rate Level of debt* Available liquidity* of Interest
Slide 10: Strong Leasing Momentum with Higher Rents
Dream Office REIT Strong Leasing Momentum with Higher Rents * On GLA. Q3 YTD Leases Transacted 2022-2024 (thousands sf) 479 2022 399 2023 514 2024 185,000 sf Leases executed in Q3 ~6.7% Rent spread on Toronto Downtown leases executed in Q3 10] Me
Slide 11: Ownership in Dream Industrial REIT
Dream Office REIT 11| Me Ownership in Dream Industrial REIT Dream Office REIT has a 4.7% interest in Dream Industrial REIT. Dream Industrial REIT owns and operates a diversified portfolio of high-quality industrial space in growing logistics markets primarily in Canada and Europe, supported by a man
Slide 12: Estimated Annualized Gross Rental Revenue by Tenant Industry
Dream Office REIT Estimated Annualized Gross Rental Revenue by Tenant Industry Dream Office REIT has a diversified tenant mix across industries including Finance, Insurance, As at Q3 2024. Government, Professional Services, Healthcare, Real Estate and Retail. 16.8% 3.9% 26.2% @ Professional Services
Slide 13: Top Tenants
Dream Office REIT Top 10 Tenants Top 10 tenants make up approximately 37% of total annualized gross rent and 50% of our top tenants have credit ratings of A- or higher 13 | Me Rank Tenant % of Rent* Investment 1 Heh Senne Government of Canada 9.7% Vv 2 BP ontario Government of Ontario 6.1% Vv 3 nie
Slide 14: 250 Dundas St. West and 212-220 King St. West
250 Dundas St. West Toronto, ON 212-220 King St. West Toronto, ON
Slide 15: Future Development Potential: 2200 Eglinton Ave. East
Dream Office REIT 15 | dM Future Development Potential 2200 Eglinton Ave. East Toronto, ON A 50/50 partnership to pursue the development of Block 2, the first phase of the 2.7MM sf Masterplan Community, with construction targeted to start in 2025 (subject to market conditions). Tree ned We are curre
Slide 16: Newly Renovated Office and Retail GLA
Toronto, ON Newly Renovated Retail GLA Office GLA
Slide 17: Prioritizing Efficient and Livable Buildings
Dream Office REIT 17| Me Prioritizing Efficient and Livable Buildings o, Pad my . or >) SUSTAINALYTICS MSCI BBB nt =O usc. ISS ESGD GRESB 5.9 ee (Top 1% of 1,000+ RE 90/100 Companies) BBB rating Prime rating . Received Platinum-level recognition for the second consecutive year from Green Lease Leade
Slide 18: Canada Infrastructure Bank retrofit financing
Dream Office REIT CANADA * INFRASTRUCTURE BANK Supporting Dream Office REIT’s target to achieve Scope 1 and Scope 2 net zero greenhouse gas (GHG) emissions* by 2035 or sooner, the Canada Infrastructure Bank (CIB) is committing up to $112.9 million under its Commercial Building Retrofits Initiative.
Slide 19: Social and Governance
Dream Office REIT Social and Governance The Dream Group of Companies” goal is to be an inclusive employer that fosters a workplace where diversity is recognized as our strength and all employees enjoy equal opportunities to unlock their potential and grow their careers. We are committed to sound and
Slide 20: Management Team and Board of Trustees
Dream Office REIT 20| Me Management Team and Board of Trustees Managemen Michael J. Cooper Chairman & CEO Service: 27 Years fd Experience: 36 Years . v Amar Bhalla Donald Charter Michael J. Cooper Independent Independent Jay Jiang a CFO Service: 9 Years Experience: 16 Years Jane Gavan Qi Tang Karine
Slide 21: Bay Street Collection: Revitalizing our Core Downtown Assets
Bay Street Collection: Revitalizing our Core Downtown Assets Bay_Street Collection= Interiors 80 Richmond St.
Slide 22: Bay Street Collection: Revitalizing our Core Downtown Assets
Bay Street Collection: Revitalizing our Core Downtown Assets Bay Street Collection - Interiors 350 Bay St.
Slide 23: Bay Street Collection: Revitalizing our Core Downtown Assets
Dream Office REIT Bay Street Collection: Revitalizing our Core Downtown Assets Cu | POT errr Nl iW TOPPER TTR | 56Temperance
Slide 24: Bay Street Collection: Revitalizing our Core Downtown Assets
Dream Office REIT Bay Street Collection: Revitalizing our Core Downtown Assets 360 Bay St.
Slide 25: Bay Street Collection: Revitalizing our Core Downtown Assets
Bay Street Collection: Revitalizing our Core Downtown Assets Bay Street Collection - Before and After 80 Richmond St.
Slide 26: Bay Street Collection: Revitalizing our Core Downtown Assets
Bay Street Collection: Revitalizing our Core Downtown Assets | Dream Office REIT 261 aM
Slide 27: Curating a destination in Downtown Toronto with Premium Restaurants
Curating a destination in Downtown Toronto with Premium Restaurants ™ es iat ee! _§: 67 Richmiond | Opened dune 2023, INK-Restaurant - Daphne i Ye 150 York | Opened May*?023 Alo. Bar Downtown
Slide 28: Michael J. Cooper | Chairman & CEO
Michael J. Cooper | Chairman & CEO (416) 365-5145 mcooper@dream.ca Jay Jiang | CFO (416) 365-6638 jjiang@dream.ca Gordon Wadley | COO (416) 365-6564 gwadley@dream.ca
Slide 29: Forward looking information
Forward looking information This investor presentation may contain forward-looking information within the meaning of applicable securities legislation, including but not limited to statements regarding our objectives and strategies to achieve those objectives; the quality and competitive advantages