Investor Presentaiton

QUALITY AND FLEXIBILITY Top diversified client base, with low concentration both per client and per industry segment Top Diversified Client Base per Size Large multinational companies Large national and multinational companies Large local and FIAT DIAGEO Mondelēz Johnson & Johnson JSL Entender para Atender DHL International LUXOTTICA MARTINS SISTEMA INTEGRADO MARTINS magazineluiza FEMSA Nviavarejo logistic transportation companies As of Dec/18 itambé PATRUS Transportes Urgentes SUPERMERCADOS BH Correios 3corações • Few opportunities to grow Low demand Geographic concentration • Low return • Many opportunities to grow • High demand • Geographic diversification Log commercial properties e Average leased GLA of 4,200 sq.m by tenant Largest client accounts for 5.1% of total revenues • Low delinquency rates (0.65% over the last twelve months) High profitability (2018 Adjusted EBITDA margin of 82.6%) • Low vacancy rates (5.9% as of Dec/18) Average of 2.0 months for relocation of warehouses with distracted in 2018. High return • 22% in contracts indexed to IPCA and 78% to IGPM There is no other company with national presence that could serve each group of the pyramid, providing quality products and high return 23

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