Corporación Inmobiliaria Vesta B de C : Presentation 4Q23

CORPORATE PRESENTATION

Q4 2023

Safe Harbor

This presentation has been prepared by Corporación Inmobiliaria Vesta, S.A.B. de C.V. ("Vesta" or the "Company") solely for use at this presentation.

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Table of

Contents

1	Company overview

2	Market Fundamentals

3	Differentiated Portfolio & Strong
Track Record

4 ESG at the core of our business

5 Appendix

Company Overview

Fully-integrated industrial real estate owner, operator and developer

Optimally positioned to leverage opportunities in Mexico, one of the world´s most attractive

manufacturing and distribution hubs.

Internally managed, with strict focus on shareholder returns.

Industry benchmark offering innovative and customized solutions.

Disciplined development approach captures specific supply chain segments, resulting in consistently higher returns.

Multiple value drivers: continually balance portfolio investments, asset recycling, share buybacks and dividends.

Note: Figures as of December 31, 2023.

(1) In terms of occupied GLA. (2) Based on number of contracts.

214

Class A industrial properties located in Mexico's key trade corridors and manufacturing centers

37.3 Million sf total GLA

93.4% Total occupancy rate

96.7% Stabilized occupancy rate

97.0% Same store occupancy rate

30.8

Million sf of land reserves

with potential to develop over 13.9 million sf of incremental GLA

187

Tenants

1. yrs average contract life¹
   92% USD² denominated contracts
   87% USD denominated rental income

1. yrs weighted average building age

Best-in-Class assets

Inventory buildings

Buildings conform to standard industry specifications designed to be adapted for two or more tenants.

Built-to-Suit ("BTS")

Buildings designed and built to meet the specific needs of clients.

Vesta Parks

1. sustainable gated industrial park with state-of-the-art class A buildings designed for advanced light manufacturing and logistics operations of world-class multinational companies' advanced light manufacturing and logistics operations

Extensive Track Record of Consistent Growth

25 Year History Building a Foundation, Substantiated by Relevant Milestones

Initial Strategy		Pre IPO		Post IPO		20/20 Vision(2)
(1998 - 2006)		(2006 - 2012)

GLA (mm sf)(1)

Level 3 Strategy (3)

2023

Anchor Investments

2012

IPO ADS

$446 mm

Ned

Spieker

3.5

0.61.2

IPO
2015
$286 mm
Follow-on II
	$230 mm

2013

Follow-on I

$220 mm

20.1

14.4

12.0

11.3

9.9

2021

Follow-on III

$230mm +

inaugural

bond for

$350 mm

31.1

2023

Follow-on

$148.8 mm

38.0

~50.0

'98

'99

'00

'01

'02

'03

'04

'05

'06

'07

'08

'09

'10

'11

'12

'14

'13

'14

'15

'16

'17

'18

'19

'20

'21

'22

'23

'24

'25

All currency denominated in US$, unless otherwise indicated. (1) Excludes GLA under construction. (2) Vesta's strategic growth plan that took place from 2014-2019. (3) Vesta's 2020- 2024 expansion and growth strategy.

Level 3 Strategy: 5-year strategic plan drives shareholder returns

Strategy based on five key pillars, supported by a strengthened organizational structure

Becoming a World-Class Fully Integrated Industrial Real Estate Company

I

Manage, maintain and deepen current portfolio

II

Invest and/or divest for ongoing value creation

III

Strengthen balance sheet and expand funding sources

IV

Strengthen

organization to

successfully execute

strategy

V

Become a category leader in

ESG, embedding our

sustainable and resilient

practices throughout Vesta´s

business model

2024 Performance Targets

Pre-tax FFO per Share

+US$0.20

NAV per Share

+US$3.0

Vesta's Accelerated Growth Plan: ~48.5 mm sf by 2025

Vesta Accelerated Growth Plan (2023-2025)

(2023- 2025 mm sf of GLA)

Current		(+) Under		(+) Growth
Portfolio		Construction		Plan(1)		2025

3.1 8.4

	37.3	48.7

Vesta's Growth Share by Region

Northwest

7.4%Northeast

Current

(+) Under

(+) Growth

Portfolio

Construction

Plan(1)

2025

+1.1 mm sf

32.1%

+3.6 mm sf

Bajio South

	0.6	1.6
10.7		12.9

Bajio North	Central
21.2%
19.4%
+2.2 mm sf	+2.2 mm sf

Northeast		0.7	2.9
	5.5		9.1

Bajio North	0.6	1.6
7.3		9.5

Bajio South

19.9%

+2.2 mm sf

+11.3 mm sf GLA by 2025

Central

1.21.0

7.3

9.5

0.0

1.1

6.6

7.7

Source: Vesta. Note: (1) Does not include US$102 mm of Capex from current projects. (2) 2023 Capex includes US$102 mm of Capex from current projects.

Solid pipeline of well-defined projects to invest ~US$829 mm

Pipeline

Region	Vesta Park	Number of	GLA	Capex	Yield on
buildings	mm SF	US$ mm	Cost

Estimated Value Creation

(US$ mm)

Value Creation

	Apodaca (Monterrey)	4	1.6	75	10.5%
Northeast
Juarez Oriente	3	0.8	44	10.7%

316

Ratio

	Guadalajara Phase 2	1	0.7	12	10.3%
Bajio North	San Luis Potosi	4	0.8	35	9.9%
	Aguascalientes	1	0.2	10	10.7%
	Queretaro	5	1.5	54	10.5%
Bajio South	San Miguel de Allende	4	0.5	23	10.5%
	Puerto Interior (Silao)	1	0.2	9	10.5%
Central	Mexico City Parks	5	2.0	164	9.4%
Other projects		14	3.6	285	9.3%
Total Growth Program	42	11.8	711(1)	10.1%

1.4x

(2)

886

Total Capex Value Creation

Incremental stabilized NOI: US$83 mm

Source: Vesta. Note: (1) Does not include US$102 mm of Capex from current projects. (2) Includes already deployed Capex.