Netstreit Investor Presentation Deck
Conservative Balance Sheet with Improved Liquidity
Balance Sheet Positioned for Growth Given Strong Liquidity Profile and Low Leverage Position
Abundant Liquidity to Support Growth:
$564.6 million in total PF liquidity ¹
Access to Debt:
Secured new 5.5-year $250 million term loan²
Well-Staggered Debt Maturity Profile:
No term loan maturities expected until 20272,3
Unsecured Balance Sheet:
Asset base is over 99% unencumbered
Low Leverage:
Net Debt4 / Annualized Adjusted EBITDAre of 4.2x
$600
$500
$400
$300
$200
$100
NETSTREIT
$0
4.0x
Debt Maturity Schedule - Pro Forma ²,3
Getty Realty
2023
2
■2024 Unsecured Term Loan 3
2029 Unsecured Term Loan
LRevolving Credit Facility Capacity
Net Debt + Pref. / EBITDA5
4.1x
2024
AGREE REALTY
4.2x
2025
NETSTREIT
2026
4.2x
5.1x
$8
ESSENTIAL PROPERTIES REALEY INCOME
I $400
$175
2027
5.4x
2028 Unsecured Term Loan
Mortgage Note
I
1
(WP CAREY
5.5x
$200
SPIRIT
2028
5.5x
NN RETAIL
$250
2029
5.8x
FCPT
Source: Company data as September 30, 2023, unless otherwise noted.
1. Pro forma (PF) adjustment reflects the 5,983,711 shares of unsettled forward equity shares under the ATM program at the September 30, 2023 available net settlement price of $16.49, and includes the $100.0 million remaining available principal to
draw from the $250.0 million senior unsecured term loan that closed on July 3, 2023.
2. The three-year $250 million senior unsecured delayed draw term loan includes two one-year extension options and one six-month to extend maturity to January 2029, at Company's discretion, totaling 5.5 year of available term.
3. Company extended the existing $175 million term loan maturity to January 2026 from December 2024, with a one-year extension option to further extend maturity to January 2027.
4. Pro forma (PF) adjustment reflects 5,983,711 shares of unsettled common stock issued through the ATM during the third quarter were settled for cash on September 30, 2023.
5. Net Debt plus Preferred is adjusted for unsettled forward equity. As of June 30, 2023, except for NTST.
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