FRP HOLDINGS, INC.

2023 Investor Day

October 11, 2023

Safe Harbor Disclosures

Investors are cautioned that any statements in this press release which relate to the future are, by their nature, subject to risks and uncertainties that could cause actual results and events to differ materially from those indicated in such forward-looking statements. These include, but are not limited to: the possibility that we may be unable to find appropriate investment opportunities; levels of construction activity in the markets served by our mining properties; demand for flexible warehouse/office facilities in the Baltimore-Washington-Northern Virginia area; demand for apartments in Washington D.C. and Greenville, South Carolina; our ability to obtain zoning and entitlements necessary for property development; the impact of lending and capital market conditions on our liquidity, development costs and project timelines; our ability to finance projects or repay our debt; general real estate investment and development risks; vacancies in our properties; risks associated with developing and managing properties in partnership with others; competition; our ability to renew leases or re-lease spaces as leases expire; illiquidity of real estate investments; bankruptcy or defaults of tenants; the impact of restrictions imposed by our credit facility; the level and volatility of interest rates; environmental liabilities; inflation risks; cybersecurity risks; as well as other risks listed from time to time in our SEC filings; including but not limited to; our annual and quarterly reports. We have no obligation to revise or update any forward-looking statements, other than as imposed by law, as a result of future events or new information. Readers are cautioned not to place undue reliance on such forward-looking statements.

To supplement the financial results presented in accordance with GAAP, FRP presents a non-GAAP financial measure within the meaning of Regulation G promulgated by the Securities and Exchange Commission. The non-GAAP financial measure included in this Presentation is net operating income (NOI). FRP uses this non-GAAP financial measure to analyze its continuing operations and to monitor, assess, and identify meaningful trends in its operating and financial performance. This measure is not, and should not be viewed as, a substitute for GAAP financial measures.

FRP Holdings, Inc.

2

Today's Agenda

FRP Holdings, Inc.

2023 Investor Day

Welcome

Who We Are

What We Do

Where We Are Going

CEO Wrap Up

Conclude Presentations

Q&A

FRP Holdings, Inc.

3

Building Success Over Time

Spin-Off from

Rezoned Anacostia

FRP & Trucking

Greenville, S.C. JV

Florida Rock

Site for Residential

Entity Split into

Formed

Industries

/ Commercial Use

Two Public Entities

1986

1988

1993

2014

2015

2018

2019

Present

Arundel Purchase;

Begin Construction

Sold Warehouse

Portfolio to

FRP Development

of Dock 79/1st JV

Blackstone Group

Founded

with MRP

($347M)

FRP Holdings, Inc.

4

Cash Reinvestment - Per Year & Cumulative

$ in 000's

$66,451

$305,000

$44,699

$255,000

$22,668

$205,000

$28,099

$71,754

$155,000

$105,000

$81,935

$55,000

$5,000

2018

2019

2020

2021

2022

2023

Capex Spent in the Year

5

FRP Holdings, Inc.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

FRP Holdings Inc. published this content on 11 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 October 2023 14:24:07 UTC.