Investor Presentaiton

Alignment of Interests: Related Party Transactions Green Street Advisors ADVISORY & CONSULTING GROUP In the past, companies have executed related party transactions that were viewed by investors to be disadvantageous to the REIT shareholders. In these cases, investors have punished the REIT shares and expressed distrust toward management. $3.50 Logistics Focused Industrial REIT Share Price Performance $3.30 $3.10 $2.90 $2.70 $2.50 $2.30 $2.10 $1.90 REIT was outperforming its peers until executing a related party transaction that was perceived to be detrimental to the REIT shareholder мм سد $1.70 $1.50 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15 Jan-16 Case Study Total Return Performance vs. Global Industrial vs. Asia Real Estate *Period of comparison begins 11/30/12 *Global industrial: Prologis & Goodman Group *Asia Real Estate: FTSE EPRA/NAREIT Asia Pacific This is not a Research report. +55% -32% +6% -26% +2%* -31% Relative Returns 14 www.GreenStreetAdvisors.com ©2019, Green Street Advisors, LLC Use of this report is subject to the Terms of Use listed at the end of the report

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