Financial Data and Key Metrics Changes - In 2025, consolidated revenue increased by 14.3% to $50.1 million, driven primarily by growth in Peru and Colombia, which saw increases of 31% and 14.8% respectively [19] - Operating GLA increased by 13.3% to 5.8 million sq ft across 34 properties, while leased GLA rose by 6.3% to nearly 6 million sq ft [20] - Cash NOI increased by 12.4% to $40.3 million, reflecting higher occupancy and rental rates during the year [24] Business Line Data and Key Metrics Changes - Net operating income (NOI) grew by 29.8% in Q4 and 11.9% for the full year, indicating strong operational performance [5] - Average rent per sq ft increased by 11% to $8.65, benefiting from lease renewals and market rate adjustments [19] Market Data and Key Metrics Changes - In Mexico, the real estate market showed encouraging signs with gradual rent increases and improved net absorption, despite limited new supply [10] - In Peru, PepsiCo's occupancy of a new facility significantly contributed to growth, with construction of additional buildings on track for future revenue increases [11] Company Strategy and Development Direction - The company is focusing on expanding its presence in Mexico through a strategic partnership with Fortem Capital, representing a $200 million investment [7] - The partnership is expected to increase GLA by 36% compared to year-end 2025, allowing for a more substantial growth pipeline [9] - The company aims to leverage its established tenant relationships and expand into key logistics submarkets in Mexico [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the Mexican market, noting that recent M&A activity could lead to market segmentation that benefits the company [29] - The company anticipates significant rental growth in 2026 as leases roll over to market rates and new buildings become operational [35] Other Important Information - The company has launched a renewed brand identity and website to reflect its evolution and enhance visibility in the market [17] - Book value per share stood at $8.12 as of year-end 2025, indicating a potential value opportunity for investors [16] Q&A Session Summary Question: Insights on the Mexico market and M&A activity - Management indicated that M&A activity in Mexico bolsters confidence in the market and may lead to segmentation, allowing the company to focus on mid-market opportunities [29][30]

Financial Data and Key Metrics Changes - In 2025, consolidated revenue increased by 14.3% to $50.1 million, driven primarily by growth in Peru and Colombia, which saw increases of 31% and 14.8% respectively [19] - Operating GLA increased by 13.3% to 5.8 million sq ft across 34 properties, while leased GLA rose by 6.3% to nearly 6 million sq ft [20] - Cash NOI increased by 12.4% to $40.3 million, reflecting higher occupancy and rental rates during the year [24] Business Line Data and Key Metrics Changes - Net operating income (NOI) grew by 29.8% in Q4 and 11.9% for the full year, indicating strong operational performance [5] - Average rent per sq ft increased by 11% to $8.65, benefiting from lease renewals and stabilization of buildings [19] Market Data and Key Metrics Changes - In Mexico, the real estate market showed encouraging signs with gradual rent increases and improved net absorption, despite limited new supply [10] - In Peru, PepsiCo's occupancy of a new facility significantly contributed to growth, with the park's construction on schedule for additional revenue in 2026 [11] Company Strategy and Development Direction - The company is focusing on expanding its presence in Mexico through a strategic partnership with Fortem Capital, representing a $200 million investment [7] - The partnership is expected to increase GLA by 36% compared to year-end 2025, enhancing the company's growth pipeline [9] - The company aims to leverage its established tenant relationships and explore new opportunities in the mid-market segment of the Mexican logistics space [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of the Mexican market, highlighting the importance of domestic consumption over trade [10] - The company anticipates significant rental growth in 2026 as leases roll over to market rates and new buildings become operational [35] - Management emphasized the need to improve market visibility and investor awareness regarding the company's growth potential and share value [16] Other Important Information - The company reported a decrease in investment property valuation gain by 36.2% to $20.6 million, primarily due to stabilization of a major building [22] - The company has maintained a healthy debt profile with net debt to investment properties improving to 40.2% [23] - A rebranding initiative was launched to enhance the company's digital presence and reflect its evolution over the past decade [17] Q&A Session Summary Question: Insights on the Mexico market and M&A activity - Management noted that the M&A activity in Mexico bolsters confidence in the market and may lead to segmentation, allowing the company to focus on mid-market opportunities [29] - The company plans to capitalize on potential portfolio pruning following consolidation moves in the market [30]

Financial Data and Key Metrics Changes - In 2025, consolidated revenue increased by 14.3% to $50.1 million, driven primarily by growth in Peru and Colombia, which saw increases of 31% and 14.8% respectively [19] - Operating GLA increased by 13.3% to 5.8 million sq ft across 34 properties, with leased GLA rising by 6.3% to nearly 6 million sq ft [20] - Cash NOI increased by 12.4% to $40.3 million, reflecting higher occupancy and rental rates [23] Business Line Data and Key Metrics Changes - Net operating income (NOI) grew by 29.8% in Q4 2025 and 11.9% for the full year, indicating strong operational performance [5] - Average rent per sq ft increased by 11% to $8.65, benefiting from stabilization of buildings and lease renewals [19] Market Data and Key Metrics Changes - In Mexico, the real estate market showed encouraging signs with gradual rent increases and improved net absorption, despite limited new supply [11] - In Peru, PepsiCo's occupancy of a new facility significantly contributed to growth, with construction of additional buildings on track for revenue growth in 2026 [12] Company Strategy and Development Direction - The company is focusing on expanding its presence in Mexico through a strategic partnership with Fortem Capital, representing a $200 million investment [7] - Plans to increase GLA by 36% through acquisitions and development projects, while maintaining a focus on capital efficiency and long-term value creation [10][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the Mexican market, anticipating opportunities for growth amid ongoing M&A activity [28] - The company expects significant rental growth in 2026 as leases roll over to market rates and new buildings become operational [33] Other Important Information - The company launched a renewed brand identity and website to reflect its evolution and strengthen its digital presence [17] - Book value per share stood at $8.12 as of year-end 2025, highlighting the perceived dislocation between market valuation and business fundamentals [16] Q&A Session Summary Question: Insights on the Mexico market and M&A activity - Management indicated that M&A activity in Mexico boosts confidence and may lead to market segmentation, allowing the company to focus on mid-market opportunities [28][29]

Logistic Properties of the Americas Fourth Quarter 2025 Investor Presentation Disclaimer This presentation (the "Presentation") is provided for informational purposes only and has been prepared to provide interested parties with certain information about Logistic Properties of the Americas and its subsidiaries (collectively, "LPA") and for no other purpose. This Presentation is not a prospectus, product disclosure statement or any other offering or disclosure document under any other law. The information co ...

Logistic Properties of the Americas Announces Full-Year 2025 Earnings Results Mar 18, 2026 4:33 PM Eastern Daylight Time Logistic Properties of the Americas Announces Full- Year 2025 Earnings Results Share Company Accelerates Growth, Reflected in Revenue Increase of 23.3% in 4Q25 and 14.3% in 2025 NOI Increases 29.8% in 4Q25 and 11.9% for the Year SAN JOSÉ, Costa Rica--(BUSINESS WIRE)--Logistic Properties of the Americas (NYSE American: LPA) (together with its subsidiaries, "LPA†or "the Company†), announc ...

Mar 18, 2026 4:29 PM Eastern Daylight Time Logistic Properties of the Americas Announces Filing of Its Form 20-F for Fiscal Year 2025 Logistic Properties of the Americas Announces Filing of Its Form 20-F for Fiscal Year 2025 Share SAN JOSE, Costa Rica--(BUSINESS WIRE)--Logistic Properties of the Americas (NYSE American: LPA) ("LPA†or the "Company†) today announced that it has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2025 with the Securities and Exchange Commission (the " ...

Tenant Composition and Market Dynamics - The tenant base in terms of Gross Leasable Area (GLA) is primarily composed of companies in Consumer Goods Distribution (37.4%), Retail (23.7%), and Third-Party Logistics (31.3%) as of December 31, 2025[88]. - The performance of the real estate markets is cyclical and tied to the U.S. economy and the economies of Costa Rica, Colombia, Peru, and Mexico[76]. - The company’s financial performance is significantly influenced by macroeconomic conditions and specific market dynamics within the industrial and logistics real estate sector[75]. - The revenues from operations in Colombia accounted for approximately 19.4% of total revenues for the year ended December 31, 2025[172]. - The company may experience reduced demand for properties due to adverse economic conditions, including inflation and currency devaluation in the countries of operation[194]. Financial Risks and Debt Management - 26.1% of the company's outstanding indebtedness bore fixed interest rates as of December 31, 2025, compared to 63.2% in 2024[84]. - The company is exposed to fluctuations in interest rates, which can increase borrowing costs and affect project profitability[82]. - As of December 31, 2025, the company's total outstanding debt was $295.3 million, which may impact cash flows and expose properties to foreclosure risks[102]. - The current interest rate environment poses risks for covenant breaches, potentially impacting future financing and overall business prospects[109]. - The company may incur additional indebtedness for strategic acquisitions, which could significantly increase financial obligations and affect debt servicing capabilities[103]. Operational and Market Challenges - Increased vacancy rates and inability to lease properties on favorable terms could negatively impact revenue streams[79]. - The company faces risks from economic downturns in specific sectors, which could adversely affect its operations and financial condition[88]. - Competition from larger investors and developers in the industrial real estate sector may lead to lower occupancy rates and rental income[95]. - The company faces increased competition in the rental market, which may lead to higher vacancy rates and downward pressure on rental rates, adversely affecting financial performance[98]. - The company’s ability to respond to economic downturns is limited due to fixed costs that do not decrease in unfavorable market conditions[77]. Construction and Development Risks - The average construction costs for warehouse projects in Colombia increased by 4.09% in 2025 and 4.28% in 2024, impacting project budgets and profitability[124]. - The engineering, design, and construction phases of new projects typically require nine to twelve months, while improvements to existing properties require one to three months[125]. - The company faces risks related to supply chain issues, which can lead to increased lead times and back-ordered products, affecting construction timelines[126]. - The company may experience material delays or expenses due to the inability to obtain necessary governmental approvals, licenses, and permits, which could adversely affect operations[127]. - The company may incur additional costs due to construction defects or delays, which could materially affect financial results[125]. Legal and Regulatory Risks - The company is subject to legal risks concerning the maintenance and acquisition of necessary governmental approvals, which can disrupt business activities[131]. - The company may face unexpected legal fees or loss of properties due to eminent domain actions by governments in the countries where it operates[138]. - The company is exposed to risks related to labor, health, and safety regulations, which could lead to penalties if violations occur[259]. - The company anticipates increased regulatory scrutiny regarding environmental laws in the countries it operates, which could materially affect its financial performance[261]. - LPA may face liabilities for environmental remediation costs, particularly in Colombia, Peru, and Mexico, where it could be jointly liable with tenants for soil pollution[263]. Competition and Market Position - The company may face significant competition for properties that meet its investment criteria, impacting acquisition activities and financing[144]. - The company is focused on premium assets (Class A Real Estate), which may narrow its target market and affect growth if demand decreases[149]. - The company may need to divest properties at below market terms to increase liquidity, which could adversely impact financial condition and growth prospects[152]. - Complications in relationships with local communities can adversely affect business continuity, reputation, liquidity, and results of operations[163]. - The company may strategically dispose of properties to redeploy capital into more advantageous real estate investment opportunities, affected by market conditions[151]. Corporate Governance and Shareholder Concerns - LPA's directors and officers collectively own or control 83.5% of the total voting power of the outstanding Ordinary Shares, giving them substantial influence over corporate actions[227]. - LPA incurs significant additional costs as a public company, including legal, accounting, and compliance expenses, which are expected to continue increasing[231]. - The company may require additional capital and may sell more Ordinary Shares or incur debt, leading to further dilution for shareholders[226]. - LPA's management team has limited experience operating a U.S. public company, which may affect compliance with regulatory obligations[233]. - LPA's current corporate governance practices allow it to operate with a board that does not require a majority of independent directors, which may afford less protection to shareholders[248]. Economic and Geopolitical Factors - The ongoing war between Russia and Ukraine and other geopolitical conflicts may lead to significant market disruptions and increased fuel costs[182]. - Political instability in Venezuela may contribute to regional uncertainty affecting assets in Latin America, including Costa Rica, Colombia, Peru, and Mexico[183]. - Increases in prices of energy, raw materials, and wages due to inflation could materially impact development and operating costs[186]. - The company faces risks from foreign exchange fluctuations, particularly with currencies like the Colombian peso, which could affect profitability when measured in U.S. dollars[172]. - Economic developments in the U.S. could adversely affect the economies of Costa Rica, Colombia, Peru, and Mexico, impacting the company's financial condition and market price of shares[205]. Tax and Compliance Risks - The company is subject to evolving tax regulations in Costa Rica, Colombia, Peru, and Mexico, which could lead to increased tax liabilities and adversely affect cash flow[203]. - The Cayman Islands' Economic Substance Act may impose compliance obligations on LPA, with potential financial penalties for non-compliance[235]. - LPA's reliance on exemptions from certain SEC reporting requirements may make its Ordinary Shares less attractive to investors, potentially affecting market activity and share price volatility[251]. - If LPA loses its status as a "foreign private issuer," it will incur substantial costs to comply with U.S. regulatory requirements, including filing periodic reports and financial statements[247]. - LPA is subject to various international laws and regulations, including anti-corruption and anti-money laundering laws, which could result in substantial fines or operational restrictions if violated[253].

Core Insights - Logistic Properties of the Americas (LPA) has entered into a forward purchase agreement for a portfolio of Class A industrial properties in Tepeji del Río, Mexico, representing an investment of approximately US$200 million [1] - The acquisition is part of a strategic partnership with Fortem Capital, aimed at expanding LPA's presence in Mexico and benefiting from ongoing demand in logistics and nearshoring activities [1] - Central Park 57, the industrial park involved in the transaction, is designed to be a modern logistics hub with approximately 2.1 million square feet of gross leasable area, strategically located along a key logistics corridor [1] Company Overview - LPA is a leading developer, owner, and manager of institutional quality industrial and logistics real estate in Latin America, focusing on high-growth markets [1] - As of September 30, 2025, LPA's portfolio includes 35 logistics facilities across Costa Rica, Colombia, Peru, and Mexico, totaling approximately 560,000 square meters (or about 6.0 million square feet) of gross leasable area [1] Strategic Partnership - The partnership with Fortem Capital is characterized by a disciplined, partner-centric growth strategy, aimed at systematically increasing LPA's market presence while mitigating risks [1] - Fortem Capital emphasizes a disciplined approach to developing institutional-quality real estate platforms in strategic corridors, aligning with long-term demand drivers [1] Market Context - The location of Central Park 57 offers efficient connectivity to major regions, including Mexico City and Querétaro, positioning it to capitalize on the growth of e-commerce and third-party logistics [1] - The park is expected to provide a cost-effective alternative within the greater Mexico City industrial real estate market, catering to high-grade global and regional tenants [1]

Core Viewpoint - Logistic Properties of the Americas has executed a long-term lease with a major regional packaging company, establishing it as an anchor tenant for Building 400 at Parque Logístico Callao in Peru [1] Group 1: Company Developments - The construction of Building 400 has commenced, which will feature approximately 215,600 square feet of gross leasable area [1]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 reached approximately $13 million, reflecting a 14.3% increase year-over-year, driven by higher leasing rates and robust occupancy [9][10] - Net Operating Income (NOI) increased by 8.7% to $10.4 million compared to Q3 2024 [9] - For the first nine months of 2025, revenue and NOI grew 11.2% and 6.2%, reaching $36.4 million and $29.4 million, respectively [10][15] Business Line Data and Key Metrics Changes - Colombia and Peru were the primary drivers of revenue growth, with rental revenue increasing by 17.6% and 16.9%, respectively, while Costa Rica's rental revenue decreased by 1.5% [13] - The operating Gross Leasable Area (GLA) increased by 8.4% year-over-year to 5.6 million sq ft, with leased GLA increasing by 4.2% [14] - Average rent per sq ft of leased GLA was $8.14, representing a 2.8% increase [15] Market Data and Key Metrics Changes - Mexico contributed approximately $222,000 in rental revenue in Q3 2025, marking its first reporting segment contribution [13] - Vacancy levels in key northern markets in Mexico, such as Juárez, have begun to decrease, indicating a recovery in the market [6] - The company is focusing on submarkets driven by domestic consumption in Mexico, which aligns with its growth strategy [6] Company Strategy and Development Direction - The company plans to expand in Mexico through strategic partnerships and acquisitions, with a focus on high-quality logistics facilities [5][28] - Development projects are being prioritized in foundational markets, with no speculative builds planned at this time [28] - The company aims to leverage its brand strength and local partnerships to enhance capital efficiency and risk management [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's trajectory despite market headwinds, including interest rate fluctuations and political uncertainties [11] - The company anticipates sustained double-digit revenue growth moving into 2026, supported by completed lease renewals and a solid operational foundation [10][11] - Management highlighted the importance of maintaining strong communication with the market to showcase operational progress and profitability [11] Other Important Information - The company reported a valuation gain of $7.1 million, down from $8.2 million in Q3 2024, primarily due to stabilization in rent appreciation [16] - Financing costs were 15% lower than the previous year, contributing to a healthy debt profile with net debt to investment properties improving to 41% [16] Q&A Session Summary Question: Future strategy in Mexico regarding JVs or acquisitions - Management indicated a focus on growing through partnerships like the one with ALAS and prioritizing acquisitions in the market [19] Question: Clarification on a new investment deal - Management explained that the new investment arrangement is a customary strategy to preserve optionality and flexibility for future acquisitions [22] Question: Expansion into the Chilean logistics market - Management acknowledged Chile as an interesting market but emphasized prioritizing expansion in Mexico at this time [24]