Corporación Inmobiliaria Vesta, S.A.B. de C.V. (NYSE:VTMX) Q1 2025 Earnings Conference Call April 24, 2025 11:00 AM ET Company Participants Fernanda Bettinger – Investor Relations Officer Lorenzo Dominique Berho – Chief Executive Officer Juan Sottil – Chief Financial Officer Conference Call Participants Pablo Ricalde – Itaú Rodolfo Ramos – Bradesco Alejandra Obregon – Morgan Stanley Adrian Huerta – JPMorgan Jorel Guilloty – Goldman Sachs Gordon Lee – BTG Andres Aguirre – GBM Francisco Suárez – Scotiabank Al ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________. OR o SHELL COMPANY ...

Financial Data and Key Metrics Changes - Total revenue for 2024 reached $252 million, a 17.7% year-over-year increase, surpassing revised guidance of 17% [15][23] - Adjusted NOI margin and EBITDA margin for 2024 were 94.6% and 83.5%, respectively [16][23] - FFO for 2024 was $160.1 million, a 25.2% increase compared to $127.9 million in 2023 [16][24] Business Line Data and Key Metrics Changes - Leasing activity for the full year reached 7.7 million square feet, with 3.5 million square feet from new leases [14] - Fourth quarter leasing activity was 1.6 million square feet, with 739,000 square feet in new contracts [17] - Renewals during the year totaled $4.2 million, with an 8.4% increase in rent spreads [14] Market Data and Key Metrics Changes - Total portfolio occupancy at the end of Q4 2024 was 93.4%, with stabilized and same-store occupancy at 95.5% and 97.6%, respectively [17] - The Bajio region showed continued absorption strength, while Tijuana and Ciudad Juarez experienced a slowdown in demand [45][56] Company Strategy and Development Direction - The company unveiled its Route 2030 strategic plan, focusing on balanced investment, growth, profitability, and ambitious Net Zero and ESG objectives [8] - Strategic investments will prioritize land acquisition and development that provide a clear competitive advantage [14] - The company aims to maintain a strong financial position and be selective in tenant leasing [21] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the challenges expected in 2025, but remains confident in the opportunities in Mexico [9][10] - The economic interdependence between Mexico and the U.S. is emphasized, with near-shoring strategies expected to drive growth [11][12] - Management noted that while there are uncertainties, the company is well-positioned to navigate these challenges [63] Other Important Information - The company secured a $545 million global syndicated sustainability-linked credit facility [16][29] - A share repurchase program reached $42.3 million by year-end, representing 2% of total outstanding shares [22][32] Q&A Session Summary Question: Insights on leasing activity in Monterrey - Management confirmed that Monterrey remains a key market with full leasing and confidence in upcoming projects [36][38] Question: Stabilized portfolio occupancy decrease in the North region - Management noted that while Monterrey is stable, Tijuana and Ciudad Juarez have shown a slowdown in demand [45][46] Question: Developments in the Bajio region - Management highlighted positive signs in Guadalajara and Queretaro, with low vacancy rates and strong demand [54][55] Question: Impact of northern market weakness on Bajio - Management indicated that different markets have unique dynamics, and they remain confident in the Bajio region's health [68][72] Question: CapEx deployment and guidance - Management did not provide specific guidance but indicated an active capital deployment strategy for the year [88][90] Question: Risks affecting the development pipeline - Management expressed confidence in material supply and development processes, with no major risks anticipated [115][116] Question: Automotive sector concerns - Management noted that major automakers reaffirmed commitments to Mexico, despite tariff concerns [124][126]

Corporación Inmobiliaria Vesta (NYSE: VTMX ) is a Mexican industrial REIT managing a portfolio of logistic centers and manufacturing properties. Vesta is a direct beneficiary of the near-shoring trend, providing logistics and manufacturing space for the companies that relocate fromI focus on investment ideas about companies that pay a (healthy) dividend while you wait for capital appreciation. I like to find good businesses which reward shareholders. The shares of the company should be for a temporary reaso ...

Corporación Inmobiliaria Vesta, S.A.B. de C.V. (NYSE:VTMX) Q3 2024 Earnings Conference Call October 25, 2024 11:00 AM ET Company Participants Fernanda Bettinger - IRO Lorenzo Berho - CEO Juan Sottil - CFO Conference Call Participants Alejandra Obregon - Morgan Stanley Jorel Guilloty - Goldman Sachs Felipe Barragan - BTG Pactual Isabela Salazar - GBM Armando Rodriguez - Signum Research Operator Greetings, ladies and gentlemen, welcome to the Vesta Third Quarter 2024 Earnings Conference Call. At this time, al ...

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| --- | |------------------------------------| | | | Company Participants | | Mariana Dominguez - IRO | | Lorenzo Berho - CEO | | Juan Sottil - CFO | | Conference Call Participants | | Pablo Ricalde - Santander | | Gordon Lee - BTG | | Alejandra Obregon - Morgan Stanley | | Rodolfo Ramos - Bradesco BBI | | Jorel Guilloty - Goldman Sachs | | Isabela Salazar - GBM | | Andre Mazini - Citigroup | | Andres Aguirre - GBM | | Natalia Leo - JPMorgan | | | It is now my pleasure to introduce your host, Mariana Doming ...

| --- | --- | --- | |-------------------------------------------------------------------------------------------|---------------------|-------------------------| | All numbers express in US$ \nASSETS | | | | | As of June 30, 2024 | As of December 31, 2023 | | Current assets: | | | | Cash and cash equivalents 376,941,475 501,166,136 Financial assets held for trading - - | | | | | | | | Recoverable Taxes 35,793,676 33,864,821 Operating lease receivables 11,900,512 10,100,832 | | | | Prepaid expenses 26,494,23 ...

Corporación Inmobiliaria Vesta, S.A.B. de C.V. (NYSE:VTMX) Q1 2024 Earnings Conference Call April 26, 2024 11:00 AM ET Company Participants Fernanda Bettinger - IR Officer Lorenzo Dominique Berho - CEO Juan Sottil - CFO Conference Call Participants Pablo Ricalde - Santander Rodolfo Ramos - Bradesco BBI Jorel Guilloty - Goldman Sachs Alan Macias - Bank of America Gordon Lee - BTG Francisco Suarez - Scotiabank Felipe Lenza - Citi Alejandra Obregon - Morgan Stanley Isabela Salazar - GBM Jeronimo Delgado - Sant ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of April 2024 Commission File Number: 001-41730 Corporación Inmobiliaria Vesta, S.A.B. de C.V. Paseo de los Tamarindos No. 90, Torre II, Piso 28, Col. Bosques de las Lomas Cuajimalpa, C.P. 05120 Mexico City United Mexican States +52 (55) 5950-0070 (Address of principal executive office) Indicate by check ma ...