Americold Key Investment Highlights & ESG Initiatives slide image

Americold Key Investment Highlights & ESG Initiatives

Historic Same Store Seasonality Trend Prior to COVID-19, same store metrics show consistent seasonal trends (1) Quarterly Same Store Revenue (% of Annual) Key Quarterly Drivers First/Second Quarter ■ Surge in 1Q 2020 due to COVID Timing of Easter moves between Q1 and Q2 ■ On average Q1 and Q2 are relatively consistent Third Quarter The harvest ramp coupled with holiday season inventory build often drives Q3 revenue growth Q3 (mid/late summer) is the hottest weather quarter which negatively impacts NOI due to increased power expense Fourth Quarter ■ Peak holiday season drives higher volumes ■ Power expense moderates back to average levels (1) 2020, 2021 and 2022 seasonality impacted by COVID-19 and has varied from historic norms 25% 25% 25% 25% 25% 26% 26% 26% 26% 26% 26% 24% 24% 24% 24% 24% 24% 24% 25% 24% Q1 Q2 Q3 2018 Revenue 2019 Revenue 2020 Revenue 2021 Revenue Q4 2022 Revenue Quarterly Same Store NOI (% of Annual) 27% 28% 27% 27% 26% 26% 25% 25% 24% 25% 25% 24% 23% 23% 23% 24% 24% 24% 25% 25% Q1 Q2 Q3 Q4 2018 NOI 2019 NOI 2020 NOI ■2021 NOI 2022 NOI 15 americOLD®
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