Blackwells Capital Activist Presentation Deck

MANAGEMENT OVERVIEW Scott T. Frederiksen CHIEF EXECUTIVE OFFICER Matthew J. Cimino Judd K. Gilats CHIEF OPERATING OFFICER & GENERAL COUNSEL CHIEF FINANCIAL OFFICER WPT's Management Team Biographies Mr. Frederiksen is the Chief Executive Officer of the REIT and a member of the board of managers of Welsh and the Chief Executive Officer and a member of the board of managers of WPT Capital. Mr. Frederiksen has served in many distinguished roles during his 30- year tenure with the Welsh organization. BW BLACKWELLS CAPITAL Starting as an industrial broker in 1987, he was named Senior Vice President in 1996 and became a Principal of Welsh Companies, LLC in 2006. Mr. Frederiksen also served as President of WelshInvest, LLC from January 2008 until his appointment as Chief Executive Officer of Welsh in 2010. In his current role as Chief Executive Officer of the REIT, Mr. Frederiksen is responsible for strategic oversight of the asset-based growth of the company, leading a team of dedicated professionals in the areas of financial analysis, acquisitions, due diligence, legal, investor relations, financing, asset management and dispositions. He serves as a frequent speaker and panelist for regional and national industry organizations in the U.S. and Canada. Mr. Frederiksen holds a Bachelor of Science degree from St. Cloud State University, where he graduated summa cum laude. He is a Certified Commercial Investment Member, a member of the National Association of Real Estate Investment Trusts and the Society of Industrial and Office Realtors, and holds a Real Estate Broker's License in the State of Minnesota. Mr. Frederiksen also holds his Series 24, 7 and 63 securities licenses. Mr. Cimino is Chief Operating Officer & General Counsel of WPT Industrial REIT. Mr. Cimino oversees day-to-day operations of the firm and strategic initiatives. Mr. Cimino also oversees all legal operations for the REIT, including securities matters, corporate governance, compliance, insurance, litigation and the structuring and negotiation of all joint ventures, private placements, acquisitions, dispositions, development, financing and leasing. Mr. Cimino also serves as the company's corporate secretary. Prior to his appointment as Chief Operating Officer & General Counsel, Mr. Cimino served as General Counsel & Secretary, with primary responsibility for all legal operations of the firm. Before joining the Welsh organization in 2007, Mr. Cimino worked in private practice, serving as external counsel to Welsh and its subsidiary companies. While in private practice, Mr. Cimino focused in the areas of real estate, finance, corporate and environmental law. He is a frequent speaker on real estate legal matters such as the structuring and negotiation of joint ventures and commercial lease transactions and was also a recipient of the First Chair Award for "Top General Counsel" in 2012 and 2013. Mr. Cimino is admitted to practice law in Missouri and Minnesota and is a member of the Real Property Law Section of the Minnesota State Bar Association, The Association of Corporate Counsel and The Society of Corporate Secretaries and Governance Professionals. Mr. Cimino is also the Chairman of the NAIOP National Forum for Real Estate Law and Transactions. He received a Juris Doctor degree from Creighton University School of Law and a Bachelor of Science degree from Montana State University. Mr. Gilats is Chief Financial Officer of WPT Industrial REIT. Mr. Gilats oversees the firm's accounting, financial analysis and other financial operations. Prior to joining WPT, Mr. Gilats was Chief Financial Officer for U.S. Assets and Dislocated Industries at Castlelake, L.P., a global investment firm based in Minneapolis, MN. Before Castlelake, Mr. Gilats held various corporate finance and capital markets roles with Ares Management, Wrightwood Capital, Chiron Corporation and Deloitte & Touche LLP, where he earned his CPA designation. Mr. Gilats received his BBA in accounting from the University of Wisconsin-Madison and his MBA from the Hass School of Business at the University of California - Berkeley. Source: WPT Industrial Company Filings, Company Reports, FactSet. Strictly Confidential & Trade Secret 72

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