One Liberty Properties, Inc. · NYSE:OLP

One Liberty Properties — Investor Presentation (March 2015)

36 slides from One Liberty Properties's investor presentation, Mar 18, 2015

  1. Slide 1: One Liberty Properties, March 2015

    ONE LIBERTY PROPERTIES, INC. One Liberty Properties March 2015 onelibertyproperties.com

  2. Slide 2: Safe Harbor Statement

    / GE URERTY PROPERTES, NC. Safe Harbor Statement - Certain information contained in this presentation, together with other statements and information publicly disseminated by One Liberty Properties, Inc. (the “Company’), constitute forward-looking statements within the meaning of Section 27A of the

  3. Slide 3: OLP Investment Highlights

    eo OLP INVESTMENT HIGHLIGHTS ~~ e Stockholder return & dividend e Disciplined track record through economic cycles eFocus on real estate fundamentals e Active portfolio management e Experienced management team

  4. Slide 4: Experienced Management Team

    UREHTY PROPERTES, NC. Experienced Management Team «: ~ Chief Executive Officer since 2008, President since 2008, Director since 2002 Senior Vice President of First Washington Realty Inc. from 2004 to 2005. A joint venture with Patrick J. Callan, Jr. CalPERS that controlled 100 shopping centers (13 m

  5. Slide 5: Stockholder Return: 5-Year Annualized Total Return

    GRE UEGRTY PROFERTES, NC. Stockholder Return 5-Year Annualized Total Return 31.2% 16.9% 15.5% vo | OLP NAREIT Equity Index S&P 500

  6. Slide 6: Stockholder Return: 10-Year Annualized Total Return

    10% 7 8% 6% 4% 2% 4 0% Stockholder Return 10-Year Annualized Total Return 9.2% 8.3% 4 11% I OLP NAREIT Equity Index S&P 500 GRE UEGRTY PROFERTES, NC.

  7. Slide 7: Growth in Operations

    $1.80 $1.70 $1.60 $1.50 Growth in Operations Historical FFO Per Share (1) $1.61 $1.59 $1.66 $1.75 “ 2012 2013 2014 $1.90 $1.80 $1.70 $1.60 $1.50 *URERTY PROPERTES, NC, Historical AFFO Per Share (1) $1.84 $1.75 $1.65 $1.56 2011 2012 2013 2014 ‘A reconaiiaton ofnet income perlite share, as determined

  8. Slide 8: Dividend Growth

    Dividend Growth $1.50 $1.50 1.45 : $1.42 $1.40 $1.34 $1.35 e583 $1.30 82.0% FFO 84.9% FFO 85.5% FFO 85.7% FFO 84.6% AFFO. 81.2% AFFO 81.1% AFFO. 81.5% AFFO Payout Payout | Payout Payout $1.25 2011 2012 2013 2014

  9. Slide 9: Financial & Portfolio Summary

    / SO .ERTY PPOPERTES, NC Financial & Portfolio Summary Number of Properties (1): 114 Square Footage 1: 6.7 million Current Occupancy: 98% + Total Enterprise Value «: $676 million Shares Outstanding at 12/31/14: 16.2 million Current Annualized Dividend: $1.56 Dividend Yield «: 6.4% (1) Asof228/18 and

  10. Slide 10: Steady Revenue Growth

    *URERTY PROPERTES, NC, se Steady Revenue Growth Total Revenue $65 $60.5 (2) $60 $55 1.0 $43.8 $40.9 $36.7 $35.2 2) $35 $30 $25 $20 2009 2010 2011 2012 2013 2014 (1) Total revenues all tenant related revenue, including straightine rent accruals and amortization of intangibles 4 (2) nchides a lease te

  11. Slide 11: Stable Occupancy

    Stable Occupancy, —~ 100.0% om ae ped 98.8% 98.6% 98.0% 98.1% 90.0% 2007 2008 2009 2010 2014 2012 2013 2014 (1) AsstDocenber 31 and ncudes our unconsoated ont ventures u

  12. Slide 12: Highest State Concentration by 2015 Contractual Rental Income

    115 properties in 30 states... °°" Highest State Concentration by 2015 Contractual Rental Income Number of 2015 Contractual % of 2015 Contractual Properties Rental Income Rental Income ‘Texas 12 $ 6,228,419 11.4% New York 9 $ 5,619,775 10.2% Georgia 14 $ 4,607,686 8.4% Pennsylvania 10 $ 4,573,231 8.

  13. Slide 13: Property Type Diversification

    % of 2015 Number of 2015 Contractual Contractual Type of Property Properties Rental Income 1) Rental Income Retail — General 45 $ 15,429,355 28.1% — Furniture 14 $ 5,808,162 10.6% — Restaurant 19 $ 3,691,503 6.7% — Office Supply 8 $ 3,100,631 5.7% — Supermarket 3 $ 2,818,230 5.1% Industrial 15 $ 11,

  14. Slide 14: Diversified Tenant Base

    Diversified Tenant Base ~~ Tenant Haverty Furniture Companies, Inc. (NYSE: HVT) Office Depot, Inc. (NYSE: ODP) LA Fitness International, LLC Northern Tool & Equipment Ferguson Enterprises, Inc. 2015 % of 2015 Number of Contractual Contractual Pre Rental income __Rental Income $ 4,568,723 8.3% 8 $ 3,

  15. Slide 15: Lease Expirations

    % of 2015 Contractual 2015 Contractual Rental Income Approximate Square % of Square Feet Year Ending Number of Rental Income Under Represented by Feet Subject To Represented by December 31, _ Leases Expiring Leases Expiring Leases Expiring Leases Expiring Leases Exp 2015 8 $ 1,713,238 3.1% 439,385 6

  16. Slide 16: Acquisition Track Record

    Acquisition Track Record.” © Acquired $56.8 million of properties in 2014 and $107.5 million of properties in 2013 © Current pipeline of diverse opportunities in excess of $250 million e Transactions sourced through relationships, developers, partners and brokers Acquisitions Per Year $120 $107.5 $1

  17. Slide 17: Recent Acquisitions

    02/25/2015 01/21/2014 01/23/2014 08/07/2014 05/21/2014 06/04/2014 06/26/2014 10/02/2014 40/21/2014 11/21/2014 ‘Shopping Center Club USA, Chase, Tile Shop, etc. Retail Total Wine & More Restaurant Chuck E. Cheese Retail ‘Savers Thrift Superstore Retail Hobby Lobby Other River Crossing Apartments Indu

  18. Slide 18: Recent Mortgages

    Recent Mortgages Mortgage Mortgage _ Interest Tenant (or d/b/a) i State Amount Maturit Rate 02/25/2015 — Shopping Center Club USA, Chase, The Tile Shop, etc. Lakewood CO $ 11,852,750 02/26/2025 4.12% 02/10/2015 Industrial Progressive Converting New Hope MN $ 4,450,000 03/01/2025 4.20% 02/06/2016 (1)

  19. Slide 19: Acquisition Case Study — Ground Lease

    GRE UEGRTY PROFERTES, NC. Acquisition Case Study — Ground Lease In June 2014, acquired 14.35 acres of land eee 5 4 Purchase P 6,510,000 located in Sandy Springs, GA which was urenase rice $6,510) simultaneously ground leased to an Year 1 Ground Rent to OLP $ 585,913 experienced multi-family operator

  20. Slide 20: Acquisition Case Study — Retail (Hobby Lobby)

    In May 2014, acquired a retail property in Woodbury, MN leased to Hobby Lobby, Inc. + The property is located 18 miles east + Hobby Lobby had $3.3 billion in revenue and operates over 600 stores. This is their first store in the Minneapolis-S' Paul area * Building is 49,406 SF on 5.54 acres o land (

  21. Slide 21: Acquisition Case Study — Industrial

    Acquisition Case Study — Industrial « Acquired a distribution facility in New Hope (Minneapolis), MN in November 2014, net leased to Progressive Converting, Inc. Progressive Converting, Inc. is the largest paper converter by market share in the United States 7 miles northwest of downtown Minneapolis

  22. Slide 22: Acquisition Case Study — Disposition

    Acquisition Case Study — Disposition Acquired, through a JV, a vacant Home Depot in Cherry Hill, NJ in October 2011 6 miles east of downtown Philadelphia The building is 114,000 SF on 12.4 acres of land Simultaneously with closing we entered into a long term lease with Burlington Coat Factory for ro

  23. Slide 23: Balance Sheet Information

    Balance Sheet Information ~ Gross Assets «:): $667.0 million Total Debt/Gross Assets .): 47.1% Fixed Rate Debt.) 95.8% Debt Service Coverage Ratio.) PAL Fixed Charge Coverage Ratio «: 32 FFO Payout «): 85.7% Liquidity available to acquire in excess of $200 million of properties as of March 12, 2015

  24. Slide 24: Laddered Mortgage Debt Maturities

    Laddered Mortgage Debt Maturities. © Weighted average interest rate of 5.02% on fixed rate debt © There is approximately $7.1 million ($0.44 per share) of scheduled amortization of mortgages for the 12 months ending December 31, 2015 Balloon Payments Due For the Twelve Months Ending December 31, $12

  25. Slide 25: Top Tenants Profiles

    TOP TENANTS PROFILES ©

  26. Slide 26: Havertys Furniture — Tenant Profile

    Havertys Furniture — Tenant: Haverty Furniture Companies, Inc. (NYSE:HVT) Represents 8.3% of 2015 contractual rental income Full service home furnishings retailer founded in 1885 Public company since 1929 120 showrooms in 16 states in the Southern and Midwestern regions Havertys has weathered many e

  27. Slide 27: Representative Havertys — Cedar Park (Austin), TX

    ° Representative Havertys — Cedar Park (Austin), TX “.““""""""" Building: 50,810 SF on 5.27 acres. Built in 2001. Havertys has operated at this location for more than 44 years 3 Mile Demographics (source:stes usa, 2015) — Population: 84,938 — Average HH Income: $87,654 Location: 11091 Pecan Park Blv

  28. Slide 28: Representative Havertys — Richmond, VA

    GRE UEGRTY PROFERTES, NC. Representative Havertys — Richmond, VA <"— Building: 38,788 SF on 2.16 acres. Built in 1979 and renovated and expanded in 2001. Havertys has operated at this location for more than 14 years. 3 Mile Demographics isource:stes usa, 2015) — Population: 55,421 — Average HH Incom

  29. Slide 29: Office Depot — Tenant Profile

    GRE UEGRTY PROFERTES, NC. Office Depot — Tenant Profile Tenant: Office Depot, Inc. (NYSE: ODP) * 8 properties representing 206,483 SF Represents 5.7% of 2015 contractual rental income % of 2015 Contractual Rental Income Chicago, IL: 1.1% Kennesaw (Atlanta), GA*: 1.0% Cary (Raleigh-Durham), NC: 0.9%

  30. Slide 30: Representative Office Depot — Chicago, IL

    GRE UEGRTY PROFERTES, NC. Representative Office Depot — Chicago, IL * Building: 23,939 SF on 2.62 acres. Built in 1994. Office Depot has operated at this location for more than 21 years. © 3Mile Demographics (source:stes usa, 2015) — Population: 545,577 — Average HH Income: $95,515 * Location: 2928

  31. Slide 31: Representative Office Depot — Cary, NC

    GRE UEGRTY PROFERTES, NC. Representative Office Depot — Cary, NC Building: 33,490 SF on 2.68 acres. Built in 1995. Office Depot has operated at this location for more than 20 years 3 Mile Demographics (source:stes usa, 2015) — Population: 66,487 — Average HH Income: $77,322 Location: 2011 Walnut Str

  32. Slide 32: LA Fitness — Tenant Profile

    (CRE LEERY PROPERTIES, NC. LA Fitness — Tenant Profile Representative LA Fitness — Secaucus, NJ Building: 44,863 SF on 1.229 acres ° Tenant: LA Fitness International LLC . Represents 5.6% of 2015 contractual rental income 3 Mile Demographics (source:stes usa 2015) LAFitness currently operates over 5

  33. Slide 33: Northern Tool & Equipment — Tenant Profile

    Northern Tool & Equipment — Tenant Profile .~*“""""" * Tenant: Norther Tool & Equipment * Represents 4.9% of 2015 contractual rental income * Alarge United States distributor of industrial grade and personal use power tools and equipment * Acquired The Sportsman's Guide and The Golf Warehouse to sel

  34. Slide 34: Ferguson Enterprises — Tenant Profile

    Ferguson Enterprises — Tenant Profile * Tenant: Ferguson Enterprises, Inc. * Represents 4.5% of 2015 contractual rental income * One of the largest United States distributors of plumbing supplies, pipes, valves and fittings * Ferguson is a large and profitable United States operating subsidiary of W

  35. Slide 35: GAAP Reconciliation

    GAAP Reconciliation The following table provides a reconciliation of net income per common share (on a diluted basis) in accordance with GAAP to FFO and AFFO: Net income ‘Add: depreciation of properties Add: our share of depreciation in unconsolidated joint ventures Add: impairment loss/charges Add:

  36. Slide 36: OLP Investment Highlights

    (Ghe veery PROFERTES. NC. OLP INVESTMENT HIGHLIGHTS e Stockholder return & dividend e Disciplined track record through economic cycles eFocus on real estate fundamentals e Active portfolio management e Experienced management team

One Liberty Properties — Investor Presentation (March 2015) on 6ix