Blackwells Capital Activist Presentation Deck

LEASE EXPIRATIONS 2020 2021 2022 Source: BaML Global Research. COLD 28.1% 16.9% 20.6% 15.2% 8.6% 0.6% 10.1% 2023 2024 2025 Thereafter Source: Company filings; BofA Global Research; Note: Data as of 4019 BW BLACKWELLS CAPITAL DRE 5.3% 8.9% 12.2% 10.0% 11.7% 9.7% 42.2% Industrial Lease Expirations ILPT 0.7% 6.0% 8.5% EGP 14.6% 19.6% 17.5% 11.9% 14.6% 7.40% 14.4% Strictly Confidential & Trade Secret 6.6% 17.5% 3.9% 56.8% PLD 11.7% 14.8% 15.2% 13.2% 13.0% n.a. 32.1% REXR 15.3% 19.1% 14.9% 12.8% 13.6% 5.7% 18.8% STAG 8.6% 13.3% 10.4% 11.7% 12.4% 8.1% 35.5% Average 12.0% 14.1% 14.2% 11.6% 13.1% 5.9% 30.0% 100

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