Corporacion Inmobiliaria Vesta S.a.b. De C.v. · BMV:VESTA
Corporacion Inmobiliaria Vesta S.a.b. De C.v — Vesta — Q3 2026 Earnings Presentation
19 slides from Corporacion Inmobiliaria Vesta S.a.b. De C.v's earnings presentation, October 2026
Slide 1: Supplemental Information Q3 2026
p p p p 1302628 SUPPLEMENTAL INFORMATION Q3 2026 USA: VTMX MEX: VESTA www.vesta.com.mx
Slide 2: Cautionary Statements
Cautionary Statements Q3 2026 This presentation is strictly confidential, It has not been independently verified and is being furnished to you solely for your information. It may not be reproduced or redistributed to any other person, and it may not be published, in whole or in part, for any purpose
Slide 3: Table of Contents
Table of Contents Q3 2026 Cautionary Statements 1 Table of Contents 2 Highlights 3 Financial Summary 4 Balance Sheet 5 Consolidated Statement of Operations 6 Reconciliation of FFO 7 New portfolio metrics definitions 8 Historical portfolio metrics 9 Stabilized portfolio 10 Portfolio Operating Metrics
Slide 4: Company Profile
Company Profile Q3 2026 Vesta is a leading Mexican provider of modern Industrial Real Estate. Our US$ 4.48 billion property portfolio encompasses 47.0 million square feet of manufacturing and logistics facilities across Northern, Bajio and Central Mexico. North Region Bajio Region Central Region Tot
Slide 5: Financial Summary
Financial Summary Q3 2026 All numbers express in US$ Company Profile Q3 2026 Q3 2025 9M 2026 9M 2025 Market capitalization (Ps.) $53,937,773,882 $43,857,569,595 $53,937,773,882 $43,857,569,595 Float @ Sep 30 928,201,237 846,017,932 928,201,237 846,017,932 Share price (Ps.) $58.11 $51.84 $58.11 $51.8
Slide 6: Balance Sheet
Balance Sheet Q3 2026 All numbers express in US$ ASSETS As of September 30, 2026 As of December 31, 2025 Current assets: Cash and cash equivalents 239,997,031 336,901,283 Financial assets held for trading - - Recoverable Taxes 51,724,261 47,539,115 Operating lease receivables 9,324,912 8,769,879 Pre
Slide 7: Consolidated Statement of Operations
Consolidated Statement of Operations Q3 2026 All numbers express in US$ Q3 2026 Q3 2025 %Change 9M 2026 9M 2025 %Change Revenues: Rental income 74,015,008 66,043,923 214,658,737 188,870,307 Reimbursable building services 3,492,976 3,898,828 12,903,029 11,356,730 Energy Income 2,055,450 2,478,174 7,2
Slide 8: Reconciliation Of Profit For The Period To FFO
Reconciliation Of Profit For The Period To FFO Q3 2026 All numbers express in US$ Q3 2026 Q3 2025 %Change 9M 2026 9M 2025 %Change Reconciliation of profit for the period to FFO Profit for the period $110,639,296 $24,967,041 $313,453,647 $67,621,867 Gain /Loss on Revaluation of Operations (60,166,371
Slide 9: Portfolio metrics definitions
Portfolio metrics definitions Q3 2026 A Better Gauge: U.S. REITs report occupancy using three primary methods, 1. total portfolio occupancy, 2. operating (stabilized) portfolio occupancy, and 3. same store portfolio occupancy. Most U.S. REITs emphasize stabilized and same store portfolio metrics and
Slide 10: Historical portfolio metrics
Historical portfolio metrics Q3 2026 All numbers shown in SF 19 20 21 22 24 26 Total Portfolio Total Portfolio % Occupancy Period Initial GLA Additions Final GLA % Occupancy Vacancy 1302628 ## Q4 2024 39,078,082 1,221,882 40,299,964 93.4% 2,658,933 93.4% 92.8% 93.9% 95. 00% 92.3% 91.7% ## Q1 2025 40
Slide 11: Stabilized Portfolio
Stabilized Portfolio Q3 2026 According to new stabilized portfolio metric, Lease Up properties are those not stabilized. A property is considered stabilized once it has reached a 80% occupancy or has been delivered for more than one year. Lease up Properties No Buildings Market Square Feet % of leas
Slide 12: Portfolio Operating Metrics
Portfolio Operating Metrics Q3 2026 Same Stores Portfolio Stabilized Portfolio Total Portfolio Region Square Footage Occupancy Square Footage Occupancy Square Footage Occupancy Total Rental Revenue US$ Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3
Slide 13: Land Bank
Land Bank Q3 2026 Gross Land Area (Acres) Buildable Area (thousand SF) Market Value (thousands USD) Market Value USD/SF Q2 2026 Q3 2026 % Change Q2 2026 Q3 2026 % Change Q2 2026 Q3 2026 % Change Q2 2026 Q3 2026 % Change 3 North Tijuana 76.1 76.1 0.0% 1,491.3 1,491.3 0.0% 19,103 19,103 0.0% $5.76 $5.
Slide 14: Development Portfolio
Development Portfolio Q3 2026 Proforma Est. Return Total Expected Investment Invested To Date Project GLA (SF) % Leased Completion Date Revenue on Cost Type (Thousand USD) (Thousand USD) (1) (2) (Thousand USD) Land+Infra Shell Total Land+Infra Shell Total North Region Tijuana Megaregión 7 375,625 $1
Slide 15: Top Tenants
Top Tenants Q3 2026 Top Tenants Rank Name % of GLA Square Feet %Annual Rent Industry Lease Expiration 1 Mercado Libre 5.9% 2,588,941 8.7% E-commerce 2 Nestle 4.1% 1,795,956 4.3% Food and Beverage 3 Foxconn 3.8% 1,679,181 3.5% Electronics 4 Safran 3.4% 1,504,144 3.6% Aerospace 5 DSV 2.8% 1,220,171 1.
Slide 16: Net Asset Value vs Market Value Analysis
Net Asset Value vs Market Value Analysis Q3 2026 NAV per share vs Market Price per share 3.99 3.88 3.53 3.68 2.83 2.41 2.56 3.21 3.26 2.33 3.07 1.99 2.01 2.12 1.47 1.75 1.83 1.81 2.63 2.40 1.94 2.00 1.68 1.74 1.80 1.81 1.53 1.21 1.23 1.36 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2
Slide 17: Leasing Activity
Leasing Activity Q3 2026 Leasing Activity Q4 2025 Q1 2026 Q2 2026 Q3 2026 (Thousand SF) Leasing 592 788 866 1,030 Releasing 179 178 - 606 Renewal 1,161 597 1,513 692 Total Leasing Activity 1,933 1,563 2,379 2,328 Renewal Releasing Total Spread TTM (Thousand SF) Q4 2025 1,161 179 1,340 10.8% Q1 2026
Slide 18: Analyst Coverage
Analyst Coverage Analyst Q4 2023 Q3 2026 Bank Analyst Date Price Opinion Actinver Antonio Hernandez 22/07/2026 $74.00 Buy Barclays Stephen Trent BBVA Francisco Chavez 23/07/2026 $70.00 Buy BOFA Carlos Peyrelongue 22/07/2026 $68.00 Buy Bradesco Rodolfo Ramos 22/07/2026 $65.00 Buy BTG Pactual Gordon L
Slide 19: Definitions
Definitions Q3 2026 "Inventory buildings" are buildings that are built in accordance with standard industry specifications, for the purpose of having sufficient space available for clients that do not have the time or interest to build a BTS Building. “Same-Store Properties” means properties that we