Plymouth Industrial REIT The change in timing of our disclosures to yesterday afternoon was in response to previous feedback we received to allow more time to digest the earnings results and supplemental. We also thought it might be even more beneficial for you to read through our prepared commentary ahead of time. Our supplemental deck includes our full-year 2024 guidance assumptions, detailed information on our operations, portfolio and balance sheet, and definitions of non-GAAP measures and reconciliatio ...

Financial Data and Key Metrics Changes - The company reported a strong balance sheet with leverage reduced to 6.5x, marking seven consecutive quarters of improvement [5] - The company anticipates a 3% increase in FFO per share at the midpoint for 2024, driven by improved portfolio operations and same-store NOI growth [10] - A dividend increase of 6.7% was announced, effective in the first quarter, while maintaining an FFO payout ratio of 50% to 51% based on 2024 guidance [11] Business Line Data and Key Metrics Changes - The company is focused on accretive growth in 2024, primarily through improved portfolio operations and leasing [10] - The guidance for 2024 includes assumptions about vacancy rates and credit loss, with specific properties in St. Louis and Chicago being highlighted for their leasing potential [13][34] Market Data and Key Metrics Changes - The company is optimistic about the Golden Triangle region benefiting from onshoring and near-shoring trends, which could enhance demand for their properties [30] - There is a noted increase in interest from foreign companies in light manufacturing, particularly in Atlanta, indicating a potential growth area for leasing [40] Company Strategy and Development Direction - The company plans to be more active in the transaction market as opportunities arise, focusing on small one-off deals and potential joint ventures [31][36] - The strategy includes funding growth through asset sales, credit facilities, and possibly tapping into the investment-grade unsecured notes market [31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the leasing strategy and the potential for accelerated lease-up in key properties, particularly in Chicago and St. Louis [13][34] - The company is monitoring the transaction market closely, with expectations of increased activity and favorable cap rates for acquisitions [64] Other Important Information - The company has identified Texas as a future market of interest but remains focused on current operations within the Golden Triangle [37] - There is an ongoing assessment of the tenant watch list, with minimal changes noted, indicating stability in tenant performance [24] Q&A Session Summary Question: What factors are embedded in the guidance range around development leasing? - The guidance includes assumptions about vacancy and credit loss, with confidence in leasing up properties in the second half of the year [13] Question: What is the company's preference between traditional acquisitions and potential JV solutions? - The company is agnostic and will pursue opportunities based on the asset's needs and potential for value addition [16] Question: How is the onshoring trend impacting demand in the leasing pipeline? - While results have been limited, there has been significant activity in Atlanta related to new buildings that are now fully leased [57] Question: What is the expected cadence of same-store growth in 2024? - The company anticipates a similar quarterly cadence to 2023, with Q1 being muted due to weather impacts, ramping up in the second half [62] Question: What is the probability of transacting in the current market? - The company is tracking smaller one-off deals and is interested in properties that may need refinancing or have expiring leases [64]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-K (Mark One) ☑ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38106 PLYMOUTH INDUSTRIAL REIT, INC. (Exact name of registrant in its charter) Maryland 27-5466153 (State or other jurisdiction of incorp ...

Financial Data and Key Metrics Changes - The company reported a core FFO of $0.46 per share for Q3 2023, driven by improved leasing spreads and contributions from developments [43] - Net debt to adjusted EBITDA was 6.7 times, marking the sixth consecutive quarter of deleveraging [44] - The total weighted average cost of debt was 4.01%, with 58% of total debt on an unsecured basis [44] Business Line Data and Key Metrics Changes - The company experienced a 24.1% increase in rents on a cash basis for Q3 2023, with new leases seeing a 25.9% increase and renewal leases a 23.6% increase [19] - Same-store cash NOI growth was 5.4% for the quarter and 6.8% year-to-date [46] Market Data and Key Metrics Changes - Total portfolio occupancy was 97.6%, with same-store occupancy at 98.6%, slightly down from Q2 but rebounding to 98% in October [23] - The company has addressed over 93.5% of the total square footage scheduled to expire in 2023, with an aggregate increase of 20.1% on a cash basis for leases commencing in 2023 [22] Company Strategy and Development Direction - The company is focused on leasing remaining spaces in its development program and evaluating proceeds from dispositions for debt repayment and acquisitions [17] - The company plans to avoid speculative development and will focus on build-to-suit projects moving forward [49] Management's Comments on Operating Environment and Future Outlook - Management noted that tenants are taking longer to make decisions on new spaces, but they remain optimistic about leasing activity and market demand [86] - The company anticipates strong market rent growth for 2024, similar to 2023, with a focus on maintaining a leverage target between 5 to 7 times [51] Other Important Information - The company eliminated its Series A preferred stock and executed an ATM program to improve its capital structure [13] - A significant debt maturity was addressed with the payoff of the AIG loan, which represented approximately 12% of total debt outstanding [45] Q&A Session Summary Question: Can you provide more detail on tenant demand and leasing timelines? - Management indicated they are close to finalizing leases in Cincinnati and Georgia, with expectations for movement in the coming weeks [48] Question: What are the return requirements for build-to-suit projects? - The company aims for high-single-digit returns, around 8% to 9%, for build-to-suit developments [104] Question: Are you seeing any slowdown in construction activity due to higher interest rates? - Management acknowledged a slowdown in construction activity, particularly in larger buildings, due to the current economic environment [63] Question: What is the strategy for future acquisitions? - The company will not increase leverage for acquisitions and is focused on capital recycling rather than dilutive equity issuance [64] Question: How is the company managing its debt and interest rate exposure? - The company plans to execute interest rate swaps to mitigate exposure and maintain flexibility in its debt structure [92]

OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From _______to ________ Commission File Number: 001-38106 PLYMOUTH INDUSTRIAL REIT, INC. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarter Ended September 30, 2023 Maryland 27-5466153 (Sta ...

Plymouth Industrial REIT, Inc. (NYSE:PLYM) Q2 2023 Earnings Conference Call August 3, 2023 9:00 AM ET Company Participants Tripp Sullivan - Investor Relations Jeff Witherell - Chairman & Chief Executive Officer Jim Connolly - Executive Vice President, Asset Management Anthony Saladino - Executive Vice President & Chief Financial Officer Conference Call Participants Todd Thomas - KeyBanc Capital Markets John Kim - BMO Capital Markets Nick Thillman - Baird Nikita Bely - JPMorgan Anthony Hau - SunTrust Mitch G ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From _______to ________ Commission File Number: 001-38106 PLYMOUTH INDUSTRIAL REIT, INC. (Exact name of registrant as specified in its charter) Maryland 27-5466153 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 20 Custom House Street, 11th Floor, Bos ...

Plymouth Industrial REIT, Inc. (NYSE:PLYM) Q1 2023 Earnings Conference Call May 4, 2023 9:00 AM ET Company Participants Tripp Sullivan - Investor Relations, SCR Partners Jeff Witherell - Chairman & Chief Executive Officer Jim Connolly - Executive Vice President, Asset Management Anthony Saladino - Executive Vice President & Chief Financial Officer Pen White - President & Chief Investment Officer Conference Call Participants Nick Thillman - Robert W. Baird Bryan Maher - B. Riley Mike Mueller - JPMorgan Mi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarter Ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From _______to ________ Commission File Number: 001-38106 PLYMOUTH INDUSTRIAL REIT, INC. (Exact name of registrant as specified in its charter) Maryland 27-5466153 (State o ...

Plymouth Industrial REIT, Inc. (NYSE:PLYM) Q4 2022 Earnings Conference Call February 23, 2023 9:00 AM ET Company Participants Trip Sullivan - Investor Relations, SCR Partners Jeff Witherell - Chairman & Chief Executive Officer Pen White - President & Chief Investment Officer Jim Connolly - Executive Vice President, Asset Management Anthony Saladino - Executive Vice President & Chief Financial Officer Conference Call Participants John Kim - BMO Capital Markets Dave Rodgers - Baird Todd Thomas - KeyBanc Capit ...