Bsr Real Estate Investment Trust · TSX:BSRT.UN
Bsr Real Estate Investment Trust — Shareholder Meeting (May 2026)
15 slides from Bsr Real Estate Investment Trust's shareholder meeting presentation, May 14, 2026
Slide 1: Annual General Meeting of Unitholders
Annual General Meeting of Unitholders May 14, 2026 Toronto, Ontario Aura 36Hundred | Austin, TX
Slide 2: General Meeting Agenda
General Meeting Agenda Chair’s Opening Remarks Appointment of Secretary and Scrutineer Constitution of Meeting Financial Statements and Auditor’s Report Election of Trustees Appointment of Auditor Termination of Meeting Management Presentation Unitholder Q&A 2
Slide 3: Management Presentation
Management Presentation The Ownsby | Dallas, TX
Slide 4: Legal Disclaimers
Legal Disclaimers Non-Reliance This presentation is for informational purposes only and does not purport to be comprehensive or to contain all the information that a recipient may need in order to evaluate an investment in BSR Real Estate Investment Trust (“BSR” or the “REIT”). No representation or
Slide 5: Why BSR? Key Investment Highlights
Why BSR? Key Investment Highlights Premier Transient Internal Real Estate Market Stewards of Platform Robust Portfolio in Trends Capital to Positioned Governance Top Favor BSR’s Highest and to Achieve Standards Multifamily Market Best Use Growth & Protocols Markets Position Objectives Today 01 02 03
Slide 6: Premier Real Estate Portfolio
01 Premier Real Estate Portfolio 26 Class A Multifamily Communities Located in High Growth MSAs 26 7,170 $1,429 5.1% Avg. SC Avg. Cap Properties Units Rents Rate Total NOI by MSA(1) OKC 7% LIT 3% DFW 32% AUS 18% HOU 40% All data as of 3/31/26. Note: See “Non-GAAP Measures and Real Estate Industry Me
Slide 7: Market Dynamics Moving in BSR's Favor: Supply
02 Market Dynamics Moving in BSR’s Favor: Supply Supply Falling, Absorption Remains Resilient, Barriers to Entry Rising Supply Levels in Texas Triangle Have Slowed Materially Houston YoY Change in New Supply Dallas YoY Change in New Supply Austin YoY Change in New Supply 2025 2026E 2027E 2025 2026E
Slide 8: Market Dynamics Moving in BSR's Favor: Demand
02 Market Dynamics Moving in BSR’s Favor: Demand Wide Range of Demand Drivers Point to Sustained Growth Ahead Economic Diversity Top 10 2025 U-Haul Growth Metros Industrial Diversity Index – Top 10 U.S. Metros #1 Dallas Atlanta 0.82 #2 Houston Chicago 0.80 San Antonio 0.80 #3 Austin Dallas 0.74 #4 C
Slide 9: 2025 in Review: Finding Ways to Deliver Unitholder Value
03 2025 in Review: Finding Ways to Deliver Unitholder Value 2025 Provides a Case Study of BSR’s Investment Stewardship ---- 1 ---- ---- 2 ---- ---- 3 ---- Positioned the REIT for Crystalized Value for Streamlined and Aligned Significant Go Forward Unitholders the REIT’s Capital Structure Growth $507
Slide 10: BSR's Capital Allocation Framework
03 BSR’s Capital Allocation Framework Capital is Finite – We Strive to Allocate to its Highest and Best Use Deep Pools of Available Capital Intended Capital Allocation Framework WACC Illustrative Current All capital allocation decisions are benchmarked against AFFO the REIT’s weighted average cost o
Slide 11: Driving Earnings Growth …
04 Driving Earnings Growth … BSR Has Numerous Drivers of Long-Term Earnings Growth Earnings Driver Targeted Impact to BSR FFO per Unit by YE 2028 $0.06 - $0.10 Lease-Up 2025 Acquisitions Class Incremental 2026-2028 FFO per Unit Bulk Internet & Valet Trash $0.04 - $0.08 Operational Initiatives Increm
Slide 12: … Should Sustain Total Unitholder Returns
04 … Should Sustain Total Unitholder Returns BSR Has Led Peer Total Returns to Unitholders Since 2025 Total Returns Since December 31, 2024 15.0% 10.0% 5.0% 0.0% (5.0%) (10.0%) (15.0%) (20.0%) HOM.U U.S. MF Gateway Peers U.S. Non-Gateway Peers Source: TSX Infosuite. U.S. MF Gateway peers include: AV
Slide 13: 2026 Strategic Themes
04 2026 Strategic Themes Taking BSR to its Next Phase Execute on Internal Prudent & Growth Transparent Initiatives at Strategic Financial Hand Operational Capital Management Excellence Allocation 13
Slide 14: Corporate Governance: Robust Commitment to Best-in-Class Leadership
05 Corporate Governance: Robust Commitment to Best-in-Class Leadership Independent Trustees with Decades of Experience Robust & Diverse Corporate Governance Strategy S. Jane Marshall – Chair • 30+ years of real estate management • 4 years on BSR board, 2 years as chair • Trustee on PLZ.UN and REI.UN
Slide 15: Investor Relations Contact
Investor Relations Contact: Spencer Andrews spencer.andrews@bsrreit.com (501) 371-6321 15
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