STAG Industrial : Investor Presentation – Fall 2025

Fall 2025 I nvestor Presentation

STAG OVERVIEW

2011

IPO

STAG

NYSE

Only pure-play industrial REIT active across all CBRE Tier 1 industrial real estate markets1

Platform designed to provide growth through sophisticated industrial operation and attractive opportunity set

Member of the S&P Mid-Cap 400 index

CBRE Tier 1

Market Focus 1

S&P MidCap 400

Member

601

Buildings 2

119.2 Million SF

Owned 2

$9.8 Billion

Enterprise Value 2

51.7%

Total Shareholder Return

Since December 31, 2020

(As of November 7, 2025)

1. CBRE-EA Tier 1 industrial markets are those markets with a sufficient sample of building-by-building rent observations at the market and submarket level over the trailing 10 years. The Tier 1 list includes 75 of the 131 markets covered by CBRE-EA and is highly correlated with larger populations and/or more established industrial markets.

2. Reflects data as of Q3 2025.

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© 2025 STAG Industrial, Inc.

PORTFOLIO METRICS Portfolio Growth Portfolio

& Quality

As of Q3 '25

Number of States 41

Weighted Average Lease Term (Years) 4.3

Multi-Tenant Industrial % NRA1 2 27.2%

Equity Market Capitalization (millions) $6,727 Free Cash Flow (annual) after Dividends 3 $100 mm + CAD Payout Ratio 4 70%

Internal Growth Optimization

Balance

& Sheet Fortification

2025 5

WA Portfolio Escalators ~ 2.9%

Cash Rent Change 23.0% - 25.0%

Same Store Cash NOI % Growth 4.00% - 4.25%

Net Debt to Annualized Run Rate Adjusted EBITDAre 5.00x - 5.50x

% secured debt < 0.1%

1. Excludes flex/office assets.

2. NRA is defined as Net Rentable Area.

3. Calculated as year-to-date annualized Q3 2025 Cash Available for Distribution of approximately $410 million less year-to-date annualized Q3 2025 cash dividends paid of approximately $285 million

4. Calculated as year-to-date Q3 2025 cash dividends paid of approximately $285 million divided by year-to-date Q3 2025 Cash Available for Distribution of approximately $410 million

5. Management's forecasts. Actual results may vary. 4

© 2025 STAG Industrial, Inc.

SUPPLY DYNAMICS

~57% of US construction pipeline is greater than 300k SF

STAG's average lease size less than 150k SF and median lease size approximately 110k SF

42% of the US construction pipeline is isolated within the top 10 most active construction markets

Only 18% of the US construction pipeline is in STAG's top 10 markets

TOTAL PRODUCT UNDER CONSTRUCTION BY SIZE RANGE

800

700

600

500

Millions

400

300

200

100

0

Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025

0- 250- >500KSF

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© 2025 STAG Industrial, Inc.

DEMAND DYNAMICS: ECOMMERCE ACTIVITY AND SUPPLY CHAIN CONFIGURATION

~31% of STAG's portfolio handles e-commerce activity 1

E-commerce and supply chain reconfiguration are secular

demand drivers

US has meaningful incremental e-commerce runway based on historical UK rate

E-Commerce Retail Sales (%) of Total Sales (UK)2 vs. E-Commerce Retail Sales (%) of Total Sales (US)3

35%

30%

25%

20%

15%

10%

16.3%

9.1%

15.1%

30.7%

Potential Upside

26.3%

16.3%

5%

2017 2018 2019 2020 2021 2022 2023 2024 1H 2025

E-Commerce Retail Sales (%) of Total Sales (UK) E-Commerce Retail Sales (%) of Total Sales (US)

1. 2022 tenant survey - % reflected associated with survey responses received.

2. Source: Statista.

3. Source: St. Louis FRED.

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© 2025 STAG Industrial, Inc.

Approximately one-third of STAG's portfolio is located within 60-mile radius of Megasite Projects 1

Accelerating re-shoring and near-shoring trends continue to drive domestic warehouse space demand

STAG SF (in Millions)

0.0-0.5

0.5-1.0

1.0-2.1

2.1-5.3

5.3-11.6

Megasite projects

1. Megasite Projects are defined as sites listed on the White House "Investing in America" initiative that documents areas where public policy and private investment have combined to inject more than $464 billion in private investment across Electric Vehicles, Batteries, Semiconductors, and Electronics since 2021. A 60-mile radius is approximately a one-hour drive.

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© 2025 STAG Industrial, Inc.

DEMAND DYNAMICS: NEARSHORING & ONSHORING



Market Rent Growth1

28.8%

STAG's portfolio rent growth exceeded market rent growth by 10.9 percentage points 2

39.7%

STAG Markets	2021	2022	2023	2024	2025	2026	2027 - 2029
STAG's CBRE Tier 1 market forecast 1	7.1%	10.3%	7.1%	~4%	1-2%	Low-Single Digits	Mid-Single Digits

2020 2021 2022 2023 2024 Q3 2025

STAG Market

1. CBRE-EA Tier 1 industrial markets are those markets with a sufficient sample of building-by-building rent observations at the market and submarket level over the trailing 10 years. The Tier 1 list includes 75 of the 131 markets covered by CBRE-EA and is highly correlated with larger populations and/or more established industrial markets.

2. CBRE-EA Tier 1 industrial markets only. Excludes buildings purchased after 12/31/2020.

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© 2025 STAG Industrial, Inc.

PORTFOLIO EVOLUTION

Market Research

Acquisitions

OPERATIONS PLATFORM

Accounting & Finance

Operations

Platform

Asset

Ma

nagement

Property M nt

anageme

Finance

Development

Construction

Legal

Credit

Capital

Markets

98.7% of expected 2025 new and renewal leasing has been addressed, consisting of 14.0 million square feet, achieving Cash Rent Change of 23.9% as of October 28, 2025

52.0% of expected 2026 new and renewal leasing has been addressed, consisting of 9.5 million square feet, achieving Cash Rent Change of 21.8% as of October 28, 2025

2025 Same Store Cash NOI growth guidance range of 4.00% - 4.25%

1. CBRE-EA Tier 1 industrial markets are those markets with a sufficient sample of building-by-building rent observations at the market and submarket level over the trailing 10 years. The Tier 1 list includes 75 of the

131 markets covered by CBRE-EA and is highly correlated with larger populations and/or more established industrial markets.

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© 2025 STAG Industrial, Inc.

PORTFOLIO OPTIMIZATION & ORGANIZATIONAL STRUCTURE

20+ value-add leasing projects identified and executed through STAG's leasing & operating platform

~ 20 building expansion projects identified & completed by STAG's Asset Management & Capital Projects teams

Leveraging local market expertise and relationships to take advantage of opportunities

REPOSITIONING & SALE NASHUA, NH

Acquired 337K SF facility in Q1 2014 for $11.7 million, representing an 8.2% cash cap rate

In early 2024, the asset was identified for repositioning, investing approximately $4.8 million into various building and site improvements to position the asset for logistics use. In addition, access to heavy power at the site was identified.

Building improvements were completed before the prior tenant vacated in November 2024. We immediately identified a complex user sale to an Asian entity that will use the building for a bottled water production facility.

In January 2025, we completed the sale for $67.0 million, representing a 4.9% cash cap rate and a 20.8% unlevered rate of return over our hold period.

© 2025 STAG Industrial, Inc.

BUILDING REPOSITIONING SPARTANBURG, SC

Acquired a 40-acre site in Q4 2016, which featured two single-tenant warehouses totaling 572K SF and a connecting office space.

In 2024, with a pending vacancy in 286K SF, the asset was identified for repositioning, investing approximately $4.3 million into various site and building improvements to create two standalone, functional buildings and improve marketability.

During construction, we executed a full building lease for the vacancy with minimal downtime. Simultaneously, we addressed an upcoming expiration for the remaining 286K SF by executing an early seven-year extension through 2033 with 3.75% annual increases.

The improvements will be completed in Q4 2025, on time despite working around tenant-specific changes. The site will feature improved access with full truck court circulation along with refreshed office spaces.

BUILDING EXPANSION GREENVILLE, SC

Acquired 264K SF Class A manufacturing facility in Q4 2017. The building was fully leased to a global automotive parts manufacturer through 2028.

Executed a 10-year lease for a proposed 53K SF expansion in conjunction with a 6-year extension of the existing premises in Q2 2024.

Completed the 53K SF building expansion along with an additional trailer parking yard in January 2025.

Achieved a return on investment of approximately 8.5% for the expansion premises.

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VALUE-ADD & BUILDING EXPANSION ACTIVITY

STAG has completed more Value-Add projects since 2020 than IPO to 2019