STAG Industrial, Inc. (NYSE:STAG) Q1 2021 Earnings Conference Call May 5, 2021 10:00 AM ET Company Participants Matts Pinard - SVP, Capital Markets & IR Benjamin Butcher - Chairman, CEO & President William Crooker - CFO, Executive VP & Treasurer Conference Call Participants Sheila McGrath - Evercore ISI Emmanuel Korchman - Citigroup Elvis Rodriguez - Bank of America Merrill Lynch David Rodgers - Robert W. Baird & Co. Michael Carroll - RBC Capital Markets John Massocca - Ladenburg Thalmann & Co. Michael Muel ...

2021 – WINTER FORWARD-LOOKING STATEMENTS & DEFINITIONS Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. STAG Industrial, Inc. (STAG) intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes ...

Financial Data and Key Metrics Changes - Core FFO was $0.49 for Q4 2020 and $1.89 for the year, an increase of 2.7% compared to 2019, aligning with pre-COVID guidance [24] - The company collected 99.6% of rental billings for 2020 and 97.3% for January 2021, consistent with 2020 performance [28][19] - Retention rates were 63.9% for the quarter and 78.4% for the year, exceeding the original pre-COVID guidance of 75% [27] Business Line Data and Key Metrics Changes - Acquisition volume for Q4 totaled $579.9 million, with full-year acquisition volume reaching $775.8 million [25] - Disposition volume for Q4 was $155.5 million, with full-year dispositions totaling $279.4 million at a cap rate of 5.4% [26] - Cash same-store NOI grew 1.7% during 2020, at the high end of the revised guidance range [27] Market Data and Key Metrics Changes - The company noted that e-commerce continues to drive strong tenant demand, with a shift in supply and demand dynamics in the industrial real estate sector [13] - The company observed that excess supply is concentrated in larger markets, which is not expected to significantly dampen rent growth prospects [14] Company Strategy and Development Direction - The company plans to continue its acquisition strategy with guidance of $800 million to $1.2 billion for 2021, supported by a $2.1 billion acquisition pipeline [17] - The company emphasized the importance of market-specific evaluations in its underwriting process to identify opportunities [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2021, citing strong tenant demand and a resilient portfolio despite the challenges faced in 2020 [12][38] - The company acknowledged the ongoing uncertainty in the economy but indicated a return to more normal conditions reflected in their guidance [35] Other Important Information - The company completed a forward equity offering in Q4, resulting in net proceeds of $276.2 million, which were used to fund acquisitions [29] - The company refinanced a $300 million term loan, extending its maturity to February 2026 and reducing the credit spread [31] Q&A Session Summary Question: Can you discuss the mix of acquisitions in the quarter and the competitiveness of those markets? - Management confirmed that the fourth quarter included a mix of assets, with successful entries into previously unvisited markets like South Florida, which contributed to slightly lower acquisition cap rates [41][42] Question: What are your funding sources and potential need for equity? - Management highlighted their ability to access various capital sources and indicated a return to a more normalized leverage range in 2021 [50][52] Question: How is tenant demand trending between larger and smaller tenants? - Management noted strong demand for larger tenants, particularly driven by e-commerce, while smaller suite sizes also maintained demand [53][54] Question: Are you expecting further cap rate compression this year? - Management indicated that cap rates have compressed in larger markets, but they focus on cash flow rather than just cap rates [59][60] Question: Can you elaborate on your exposure to Amazon and tenant diversification? - Management expressed comfort with their exposure to Amazon, which increased to 3.8%, and emphasized their focus on diversification across various tenants [69][71] Question: What is the outlook for shorter-term leases and reverse logistics? - Management acknowledged an increase in short-term leasing inquiries and noted that reverse logistics demand continues to grow due to the pandemic's impact on online shopping [85][86] Question: How do you expect G&A expenses to trend moving forward? - Management indicated that G&A expenses are expected to grow due to investments in the platform, but they aim to drive the G&A number down as a percentage of NOI [106][109]

STAG Industrial Inc. (NYSE:STAG) Q3 2020 Earnings Conference Call November 6, 2020 10:00 AM ET Company Participants Matts Pinard - Senior Vice President, Investor Relations Ben Butcher - Chief Executive Officer Bill Crooker - Chief Financial Officer Dave King - Director, Real Estate Operations Conference Call Participants Manny Korchman - Citi Sheila McGrath - Evercore Elvis Rodriguez - Bank of America Brendan Finn - Wells Fargo John Massocca - Ladenburg Thalmann Operator Good morning and thank you for stan ...

2020 – SEPTEMBER CONFERENCE UPDATE FORWARD-LOOKING STATEMENTS & DEFINITIONS Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. STAG Industrial, Inc. (STAG) intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act ...

Financial Data and Key Metrics Changes - Core FFO for Q2 2020 was $0.47, an increase of 4.4% compared to Q2 2019 [18] - Net debt to runway adjusted EBITDA was 4.3 times, and 3.9 times when factoring in equity proceeds from a January offering [18] - Same-store cash NOI grew by 2.1% for the quarter and 2.3% year-to-date, driven by a retention rate of 95% [20][27] Business Line Data and Key Metrics Changes - Acquisition volume for Q2 totaled $11.9 million, with year-to-date acquisitions at $131.3 million [18] - 2.7 million square feet of operating leasing activity commenced with cash and straight-line reducing spreads of 1.6% and 9.6%, respectively [18] - Retention rate was 100% for the quarter and 95% for the year [20] Market Data and Key Metrics Changes - Amazon accounted for 2.5% of annualized base revenue, highlighting the importance of e-commerce in industrial real estate [11] - The company has seen a healthy amount of leasing activity in its properties, particularly in e-commerce supply chain demand [12][16] Company Strategy and Development Direction - The company plans to increase acquisition activity in the second half of the year, maintaining an expected acquisition volume of $300 million to $600 million [25][26] - The strategy includes focusing on stabilized assets with expected cash cap rates between 6.25% and 6.75% [26] - The company is also evaluating development opportunities on adjacent land parcels to enhance value [63] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in operations despite uncertainties related to COVID-19 and the upcoming presidential election [9] - The company anticipates that changes in consumer behavior due to the pandemic may lead to permanent shifts in demand for e-commerce and industrial space [10] - Management is optimistic about the leasing velocity and expects to outperform initial leasing estimates for certain properties [12][16] Other Important Information - The company has received rent relief requests totaling 5.3% of ABR, with $2.1 million granted [22] - A total of $1.5 million in credit loss was incurred related to six tenants, impacting the company's credit loss guidance for 2020 [23] Q&A Session Summary Question: Can you walk us through the downside scenario factored into your unchanged guidance range? - Management indicated that retention numbers are expected to decline due to specific properties, but they remain confident in operations [37] Question: Can you discuss the percentage of leases signed on a short-term basis this quarter? - Management noted an increase in short-term leases due to COVID-related delays in tenant moves [39] Question: Any insights on the yield on cost for value-add projects? - Management reported that the yield on cost for development projects was significantly higher than expectations, near double digits [41] Question: How is the acquisition pipeline shaping up? - Management expects an increase in acquisitions in Q3 and Q4, with a current pipeline of $1.8 billion [44] Question: Can you provide more color on larger blocks of available space? - Management expressed confidence in securing leases for larger spaces, including the Solo Cup and GSA properties, sooner than expected [58][60] Question: What is the outlook for e-commerce demand? - Management noted that while initial demand surged, it is stabilizing, but they expect continued strong demand as e-commerce grows [53][54] Question: How are rent negotiations and market rates evolving? - Management indicated that while there was a pause initially, rent levels have remained stable without significant declines [71] Question: What is the company's appetite for riskier assets? - Management is open to acquiring riskier assets if compensated adequately for the risks involved [77]

STAG Industrial Inc. (NYSE:STAG) Q1 2020 Earnings Conference Call May 1, 2020 10:00 AM ET Company Participants Matts Pinard - Senior Vice President of Investor Relations Ben Butcher - Chief Executive Officer Bill Crooker - Chief Financial Officer Dave King - Director of Real Estate Operations Conference Call Participants Katy McConnell - Citi Sheila McGrath - Evercore ISI Michael Carroll - RBC Capital Markets Mike Muller - JPMorgan Rick Schiller - Robert W. Baird Bill Crow - Raymond James Chris Lucas - Capi ...

ISCH INDUSTRIAL SUPPLEMENTAL INFORMATION UNAUDITED FIRST QUARTER 2020 Golden, CO Londonderry, NH Preparer Sync/Link Approver NA Jeff M. 10/20/2017 Peter F. 10/23/2017 1 1 1 1 Forward-Looking Statements This supplemental information package contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. STAG Industrial, Inc. (STAG) intends such forward-looking statements to be covered ...

STAG Industrial, Inc. (NYSE:STAG) Q4 2019 Results Earnings Conference Call February 13, 2020 10:00 AM ET Company Participants Matts Pinard - Senior Vice President of Investor Relations Ben Butcher - Chief Executive Officer Bill Crooker - Chief Financial Officer. Steve Mecke - Chief Operating Officer Dave King - Director of Real Estate Operations Conference Call Participants Sheila McGrath - Evercore Brendan Finn - Wells Fargo Dave Rodgers - Baird. Bill Crow - Raymond James Michael Carroll - RBC Capital Mark ...

C IST INDUSTRIAL SUPPLEMENTAL INFORMATION UNAUDITED FOURTH QUARTER 2019 Golden, CO Londonderry, NH Preparer Sync/Link Approver NA Jeff M. 10/20/2017 Peter F. 10/23/2017 1 1 1 1 Forward-Looking Statements This supplemental information package contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. STAG Industrial, Inc. (STAG) intends such forward-looking statements to be covere ...