Blackwells Capital Activist Presentation Deck

YEARS OF SHARE PRICE UNDERPERFORMANCE Despite Strong Fundamentals for Industrial REITS, WPT Shares Have Materially Underperformed WPT Industrial has suffered prolonged and substantial share price underperformance on a relative basis Over the last three years, the end of the longest bull run in history, WPT's U.S. listed industrial real estate peers outperformed the S&P 500 with an average return of 71% Over the last five years WPT's peers have returned on average 182% versus WPT's returns of 63% an overperformance of 118%. WPT's peers have also outperformed the S&P 500 over the same time Source: Capital IQ. Note: Calculated through 12/31/2020. BW BLACKWELLS CAPITAL Industrial REIT and S&P 500 Performance Over the Last 5 Years REXR SMU-U TRNO EGP US Average Canadian Average PLD GRT-U DIR-U DRE FR WPT 0.0% 50.0% 63.2% 100.0% Strictly Confidential & Trade Secret 125.9% 118.2% 150.0% 181.6% 192.4% 187.4% 178.2% 168.6% 165.2% 161.5% 208.0% 200.0% 233.8% 250.0% 59

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