Whitestone REIT Investor Presentation
APPENDIX
FORWARD-LOOKING STATEMENTS
This presentation contains forward looking statements within the meaning of Section 27 A of the Securities Act of 1933 as amended, and Section 21 E of the Securities Exchange Act of
1934 as amended Forward looking statements provide our current expectations or forecasts of future events and are not statements of historical fact These forward looking statements
include information about possible or assumed future events, including, among other things, discussion and analysis of acquisitions and the impact of such acquisitions on Whitestone
REIT, or the Company, including expected financing developments, capitalization rates and internal rates of return, the financial condition and results of operations of the Company,
anticipated capital expenditures required to complete projects, amounts of anticipated cash distributions to the Company's shareholders in the future and other matters These forward
looking statements are not historical facts but are the intent, belief or current expectations of the Company's management based on its knowledge and understanding of the Company's
business and industry Forward looking statements are typically identified by the use of terms such as "may,"" will,"" should,"" potential,"" predicts,"" anticipates,"" expects,"" intends,""
plans,"" believes,""" or the negative of such terms and variations of these words and similar expressions, although not all forward looking statements include these words These
statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the Company's control, are difficult to predict
and could cause actual results to differ materially from those expressed or forecasted in the forward looking statements.
Forward-looking statements that were true at the time made may ultimately prove to be incorrect or false You are cautioned not to place undue reliance on forward looking statements
The Company undertakes no obligation to update or revise forward looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future
operating results Factors that could cause actual results to differ materially from any forward looking statements made in this presentation include the Company's ability to meet its long
term goals, its assumptions regarding its earnings guidance, including its ability to execute effectively its acquisition and disposition strategy, to continue to execute its development
pipeline on schedule and at the expected costs, and its ability to grow its NOI as expected, which could be impacted by a number of factors, including, among other things, its ability to
continue to renew leases or re let space on attractive terms and to otherwise address its leasing rollover its ability to successfully identify, finance and consummate suitable acquisitions,
and the impact of such acquisitions, including financing developments, capitalization rates and internal rate of return the Company's ability to reduce or otherwise effectively manage its
general and administrative expenses, including in connection with the recent proposed nomination of trustees by a shareholder of the Company the Company's ability to fund from cash
flows or otherwise distributions to its shareholders at current rates or at all current adverse market and economic conditions lease terminations or lease defaults the impact of
competition on the Company's efforts to renew existing leases changes in the economies and other conditions of the specific markets in which the Company operates economic,
legislative and regulatory changes, including the impact of the Tax Cuts and Jobs Act of 2017 the success of the Company's real estate strategies and investment objectives and the
Company's ability to continue to qualify as a REIT under the Internal Revenue Code of 1986 as amended The forward-looking statements should be read in light of these factors and the
factors identified in the "Risk Factors" included in the Company's most recent Annual Report on Form 10 K, Quarterly Reports on Form 10 Q and other reports and information that it
files with the Securities and Exchange Commission, or the SEC
This presentation is not an offer to sell, nor a solicitation of an offer to buy securities, nor shall there be any sale of securities in any state or jurisdiction in which the offer, solicitation or
sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
The Company obtained the industry, market and competitive position data used in this presentation from (i) its own internal estimates and research of third party company websites and
other sources,sources, (ii) industry and general publications and research or (iii) studies and surveys conducted by third parties Such sources generally do not guarantee the accuracy or
completeness of included information While the Company believes that the information included in this presentation from such publications, research, studies, surveys and websites is
reliable, it has not independently verified data from these third party sources While the Company believes its internal estimates and research are reliable, neither such estimates and
research nor such definitions have been verified by any independent source
This presentation contains supplemental financial measures that are not calculated pursuant to US generally accepted accounting principles, or GAAP, including EBITDA, FFO, FFO
Core, and NOI These non GAAP measures are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP A reconciliation
of non GAAP measures to GAAP measures is contained in the Appendix to this presentation.
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WHITESTONE REIT INVESTOR PRESENTATION FIRST QUARTER 2021
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