Corporación Inmobiliaria Vesta B de C : Supplemental Package Q2 2023

SUPPLEMENTAL INFORMATION

Q2 2023

USA: VTMX

MEX: VESTA

www.vesta.com.mx

Cautionary Statements

Q2 2023

This presentation is strictly confidential, It has not been independently verified and is being furnished to you solely for your information. It may not be reproduced or redistributed to any other person, and it may not be published, in whole or in part, for any purpose. By receiving this presentation, you become bound by the above referred confidentiality obligation. Failure to comply with such confidentiality obligation may result in civil, administrative or criminal liabilities. The distribution of this presentation in other jurisdictions may also be restricted by law and persons who obtain this presentation should inform themselves about and observe any such restrictions.

This presentation does not constitute or form part of any offer for sale or solicitation of any offer to buy any securities in the United States or elsewhere nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment to purchase shares nor does it constitute the basis, in whole or in part, for the execution of any agreement or commitment of any kind. Specifically, this presentation does not constitute a placement prospectus or equivalent document, and the information contained herein is in general nature, and is distributed for information purposes only. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the "Act"). Corporación Inmobiliaria Vesta, S.A.B. de C.V. (the "Company") has not and does not intend to register any securities under the Act or offer any securities to the public in the United States. Any decision to purchase shares in any offering should be made solely on the basis of the information to be contained in the Mexican prospectus to be registered with the Mexican Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) or any offering circular to be published in due course in relation to any such offering. No reliance may be placed for any purposes whatsoever on the information contained in this document or on its completeness. No representation or warranty, express or implied, is given or will be given by or on behalf of the Company, the Global Coordinator, the Mexican lead arrangers, bookrunners, any other Manager or any of their respective affiliates or agents, or any of such persons' directors, officers, employees or advisors or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this document and any reliance you place on them will be at your sole risk. In addition, no responsibility, obligation or liability (whether direct or indirect, in contract, tort or otherwise) is or will be accepted by the Company, the Global Coordinator, the Mexican lead arrangers, bookrunners, or any other person in relation to such information or opinions or any other matter in connection with this document or its contents or otherwise arising in connection therewith.

This presentation includes forward-looking statements. All statements other than statements of historical fact included in this presentation, including, without limitation, those regarding our prospective resources, contingent resources, financial position, business strategy, management plans and objectives or future operations are forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual resources, reserves, results, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. These forward-looking statements are based on numerous assumptions regarding our present and future business operations and strategies and the environment in which we expect to operate in the future. Forward looking statements speak only as of the date of this presentation and we expressly disclaim any obligation or undertaking to release any update of or revisions to any forward looking statements in this presentation, any change in our expectations or any change in events, conditions or circumstances on which these forward-looking statements are based.

By attending this presentation or by accepting to view any of the materials presented, you agree to be bound by the foregoing limitations. Neither the Mexican Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) nor any other authority has approved or disapproved the contents of this presentation, or the adequacy or truthfulness of the information contained herein.

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Table of Contents

Cautionary Statements

Table of Contents

Highlights

Financial Summary

Balance Sheet

Consolidated Statement of Operations

Reconciliation of FFO

New portfolio metrics definitions

Historical portfolio metrics

Stabilized portfolio

Portfolio Operating Metrics Land Bank

Development Portfolio Top Tenants Analyst coverage Definitions

Q2 2023

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www.vesta.com.mx

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Company Profile

Q2 2023

Vesta is a leading Mexican provider of modern Industrial Real Estate.

Our US$ 2.92 billion property portfolio encompasses 34.6 million square feet of manufacturing and logistics facilities across Northern, Bajio and Central Mexico.

	North Region		Bajio Region		Central Region		Total
Number of operating buildings	79	89	36	204
Number of buildings under development	7	4	0	11
Total Buildings	86		93		36		215
Operating portfolio (sf)	10,657,963	16,769,047	7,179,701	34,606,711
Development portfolio (sf)	1,728,660	1,520,283	0	3,248,942
Total GLA (sf)	12,386,622		18,289,330		7,179,701		37,855,654
	32.7%		48.3%		19.0%		100%
Development portfolio TEI* (In thousands)	$112,376	$93,237	$0	$205,613
Land (acres)	141.24	660.06	62.47	863.78
Land book value	$45,420	$110,410	$50,750	$206,580

* Total Expected Investment

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Financial Summary

All numbers express in US$

Company Profile

Market capitalization (Ps.)

Float @ June 30

Share price (Ps.)

Earnings Profile

Revenues

Property operating costs that generated revenues Adjusted NOI

Adjusted NOI Margin

Adjusted EBITDA

Adjusted EBITDA Margin

Vesta FFO

Per Share

Adjusted NOI per share

Adjusted EBITDA per share

Vesta FFO per share

Portfolio (sf)

Same store portfolio

Portfolio Occupancy

Stabilized portfolio

Portfolio Occupancy

Total portfolio

Portfolio Occupancy

Total Portfolio Average rent per sf

Debt Summary

Total debt outstanding

Leverage ratio (debt to total asset)

Weighted Average Number of Shares *

						Q2 2023
	Q2 2023	Q2 2022			6M23	6M22
	$37,974,697,378	$25,423,039,110			$37,974,697,378	$25,423,039,110
	683,859,128	679,760,404			683,859,128	679,760,404
	$55.53	$37.40			$55.53	$37.40
	$51,924,432	$43,097,222	$102,128,616	$85,093,309
	(3,390,747)	(2,444,505)	(5,880,847)	(4,046,932)
	48,533,685	40,652,716	96,247,769	81,046,377
	93.5%	94.3%	94.2%	95.2%
	42,818,574	36,429,529	84,878,250	71,844,569
	82.5%	84.5%	83.1%	84.4%
	31,046,921	24,502,059	61,475,424	49,509,450
	$0.070	$0.059	$0.138	$0.116
	$0.062	$0.053	$0.122	$0.103
	$0.045	$0.036	$0.088	$0.071
	31,910,575	29,939,714	31,910,575	29,939,714
	96.7%	95.7%	96.7%	95.7%
	33,715,097	31,881,231	33,715,097	31,881,231
	96.9%	95.9%	96.9%	95.9%
	34,606,711	32,088,050	34,606,711	32,088,050
	94.7%	95.8%	94.7%	95.8%
	$0.248	$0.224	$0.243	$0.220
	$928,895,621	$930,499,586	$928,895,621	$930,499,586
	30.4%	31.5%	30.4%	31.5%
	695,269,400	688,220,783	695,269,400	696,673,439

(*) Under IFRS, management compensation shares that have been transfered to the trust constitued by Vesta for such effect, are considered Treasury shares, as long as such shares remain within the trust.

4	www.vesta.com.mx