Investor Presentaiton
Dream | Impact Trust
Attractive Valuation Relative to Net Asset Value
BUILDING BETTER COMMUNITIES 18
Asset Class
Cash and Lending Portfolio
Expected Total Carrying Value
Return
Book Value Per
%
($000's)
Unit¹
$58,853
$0.91
11%
Development and Investment Holdings²
15-20%
$292,455
$4.50
57%
Income Properties³ (Net of Mortgages Payable)
10-13%
$211,784
$3.26
41%
Other Assets and Liabilities
($47,466)
($0.73)
-9%
IFRS Book Value
$515,626
$7.94
100%
Add: FV Adj. on Assets Held at Cost
$67,244
$1.05
Published NAV as at Dec 31, 2020
$582,870
$8.99
Market Capitalization
$427,301
$6.58
Discount to IFRS Book Value
-17%
Discount to NAV
-27%
Note 1 - Total Unitholders' Equity Per Unit, unit count as at September 30th, 2021
Note 2 - Inclusive Development and Investment Holdings classified as Equity Accounted Investments
Note 3 - Inclusive of Income Properties classified as Equity Accounted Investments
Note 4 Source: Bloomberg; Pricing Date: November 9th, 2021View entire presentation