Blackwells Capital Activist Presentation Deck

TENANT OVERVIEW Monmouth Has a High-Quality Roster of Tenants Zulily LLC 6% International Paper Company 6% MWI Veterinary Keystone Supply Automotive (1) Company 5% 5% Amazon.com 7% Unilever Home & Personal Care 8% Annual Rent by Tenant Continental Tire the Americas, LLC 8% General Mills Operations, LLC 8% BW BLACKWELLS CAPITAL Source: WPT Industrial REIT Q3 2020 Investor Presentation, Company Filings. FedEx Ground Package System, Inc. 37% IKEA Distribution Services, Inc. 10% Strictly Confidential & Trade Secret Keystone Automotive (1) 7% Zulily LLC 7% International Paper Company 7% Square Footage by Tenant Amazon.com 9% MWI Veterinary Supply Company 6% Unilever Home & Personal Care 13% FedEx Ground Package System, Inc. 19% Continental Tire the Americas, LLC 7% IKEA Distribution Services, Inc. 10% General Mills Operations, LLC 15% 32

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