Nexus Industrial REIT (NXR-UN) investor relations material

Executive summary

• Achieved sequential and year-over-year growth in revenue, NOI, normalized FFO, and last 12 months Adjusted EBITDA, with industrial occupancy rising to 97% from 95% sequentially and 96% year-end, reflecting strong leasing and renewals with average rent lifts of 6%.

• Advanced strategic initiatives including attaining investment-grade credit rating, completing a $500 million bond issuance, capital recycling through asset sales, and launching a data infrastructure development sub-strategy.

• Sold 80% interest in Hamilton development land for CAD 14.1 million and an industrial property for $8.5 million, enhancing liquidity and reducing debt.

Financial highlights

• Net operating income grew 6.2% year-over-year to CAD 34.1 million, with Q2 2026 property revenues rising to $46.6 million from $42.0 million.

• Normalized FFO increased to CAD 17.9 million; last 12 months Adjusted EBITDA reached CAD 121.8 million.

• Normalized AFFO per unit was CAD 0.154, with a year-to-date payout ratio of 99.3%.

• Net loss for the quarter was CAD 12.8 million, mainly due to fair value adjustments and higher interest expense.

• NAV per unit at June 30th was CAD 13.23.

Outlook and guidance

• Expects mid-single-digit Same Property NOI growth in 2026, driven by lease-up of vacant space, completed developments, embedded rent steps, and positive rent spreads.

• Normalized AFFO payout ratio expected to average well below 100% for the full year, supporting distribution sustainability.

• Benefits anticipated from recent expansions and projects in St. Thomas, Calgary, Montreal, Longueuil, and British Columbia.