MEXICO CITY--(BUSINESS WIRE)--Corporación Inmobiliaria Vesta S.A.B. de C.V., (“Vesta”, or the “Company”) (BMV: VESTA; NYSE: VTMX), a leading industrial real estate company in Mexico, today announced results for the second quarter ended June 30, 2026. All figures included herein were prepared in accordance with International Financial Reporting Standards (IFRS), which differs in certain significant respects from U.S. GAAP. This information should be read in conjunction with, and is qualified in its entirety by reference to, Vesta's consolidated financial statements, including the notes thereto. Vesta’s financial results are stated in US dollars unless otherwise noted.

Q2 2026 Highlights

• Vesta delivered solid financial results for the second quarter 2026. Total rental revenue increased to US$ 78.5 million, while rental revenue excluding energy reached US$ 76.0 million, a 16.2% year over year increase. Adjusted Net Operating Income (Adjusted NOI¹) margin was 94.0% for the second quarter 2026, while Adjusted EBITDA² margin was 83.7%. Vesta Funds From Operations (Vesta FFO), totaled US$ 46.1 million for the second quarter 2026, a 6.8% increase compared to US$ 43.1 million for the second quarter of 2025.

• Second quarter 2026 leasing activity reached 2.4 million square feet (sf), including 0.9 million sf of new leases, all with new tenants across the data center infrastructure, electronics, automotive and logistics sectors, reflecting solid market dynamics. Lease renewals accounted for 1.5 million sf, with a weighted average lease term of approximately seven years. Total portfolio occupancy improved by 200 basis points sequentially, reaching 91.7% at quarter end, while stabilized and same-store occupancy reached 93.7% and 95.0%, respectively.

• Renewals and re-leasing activity for the second quarter reached 1.5 million sf, with a trailing 12-month weighted average spread of 10.3%. Same-store NOI for the second quarter 2026 increased by 5.9% year over year.

• As leasing activity for the Company continued to strengthen, Vesta began construction on two new inventory buildings: one in Ciudad Juárez and one in Guadalajara, reflecting continued execution of the Company's Route 2030 strategy. During the quarter, Vesta delivered one building in Guadalajara which was fully occupied upon delivery. Following these construction starts and delivery, construction in progress totaled 1.8 million sf at the end of the second quarter 2026, representing an estimated investment of approximately US$ 162.4 million. The development pipeline was 22.3% pre-leased, with an expected yield on cost of 10.1%.

• During the second quarter, on May 18, the Company announced the closing of its global offering of 1,199,285 American Depositary Shares (ADSs) at a price of US$ 34.62 per ADS in the United States and 58,054,784 common shares at a price of Ps. $59.50 per common share in Mexico. Gross proceeds from the offering totaled approximately US$ 242.5 million, which Vesta intends to use to fund its growth strategy. Subsequently, on June 4, the Company announced that the international underwriters had exercised their option to purchase an additional 774,920 ADSs at a price of US$ 34.62 per ADS, generating approximately US$26.8 million in gross proceeds. These transactions enhance Vesta's overall financial flexibility and support continued execution of its Route 2030 plan.

• During the quarter, Vesta paid a cash dividend of US$ 18.7 million for the first quarter of 2026, equivalent to MXN$ 0.3819 per ordinary share, on May 5, 2026. Subsequent to quarter's end, on July 15, 2026, Vesta paid a cash dividend of US$ 18.7 million for the second quarter of 2026, equivalent to MXN$ 0.3499 per ordinary share.

• Second quarter 2026 total rental revenues were US$ 78.5 million; a 16.7% year over year increase from US$ 67.3 million in the second quarter 2025. Total revenues excluding energy increased to US$ 76.0 million; a 16.2% year over year increase from US$ 65.4 million in 2025 driven by US$ 9.1 million of revenue from new contracts and a favorable inflationary impact of US$ 2.1 million.

• Second quarter 2026 Adjusted NOI increased 15.6% to US$ 71.5 million, compared to US$ 61.8 million in the second quarter of 2025. Adjusted NOI margin for the second quarter was 94.0%; a 51 basis point year over year decrease, primarily driven by an increased proportion of costs relative to rental income.

• Adjusted EBITDA for the quarter increased 15.7% to US$ 63.6 million, compared with US$ 55.0 million in the second quarter 2025. Adjusted EBITDA margin for the quarter was 83.7%, a 41 basis point decrease primarily due to higher costs and increased administrative expenses compared with the prior-year period.

• Second quarter 2026 Vesta FFO excluding current tax was US$ 46.1 million, compared to US$ 43.1 million in the second quarter of 2025. This increase was primarily due to higher EBITDA, partially offset by higher interest expense.

• Second quarter 2026 Vesta funds from operations after tax (Vesta FFO less tax expense) decreased to US$ 30.3 million, compared to US$ 37.7 million in the prior-year period. Vesta FFO after tax per share was US$ 0.0324 for the second quarter of 2026, compared with US$ 0.0439 for the same period in 2025, representing a 26.2% decrease. This decrease primarily reflected an impact from current tax expense during the quarter.

• Second quarter 2026 total comprehensive income was US$ 97.7 million, compared with US$ 31.4 million in the second quarter of 2025, primarily due to a higher gain from the revaluation of investment properties and a favorable tax impact during the quarter.

• The total value of Vesta’s investment property portfolio was US$ 4.3 billion as of June 30, 2026 representing a 5.3% increase from US$ 4.1 billion at the end of December 31, 2025.

For a full version of Corporación Inmobiliaria Vesta Second Quarter 2026 Earnings Release, please visit: https://ir.vesta.com.mx/financial-results

CONFERENCE CALL INFORMATION

About Vesta

Vesta is a leading real estate owner, developer and asset manager of industrial buildings and distribution centers in Mexico. As of June 30, 2026, Vesta owned 232 properties located in modern industrial parks across 16 states in Mexico, totaling 43.3 million sf (4.0 million m2) of gross leasable area (GLA). Vesta serves a diversified base of world-class clients across a range of industries, including automotive, aerospace, retail, high-tech, pharmaceuticals, electronics, food and beverage and packaging. For additional information, please visit: www.vesta.com.mx.

Note on Forward-Looking Statements

This report may contain certain forward-looking statements and information relating to the Company and its expected future performance that reflects the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like “believe,” “anticipate,” “expect,” “envisages,” “will likely result,” or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, regional and local economic and political climates; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties; (v) tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain; (vii) environmental uncertainties, including risks of natural disasters; (viii) risks related to any potential health crisis and the measures that governments, agencies, law enforcement and/or health authorities implement to address such crisis; and (ix) those additional factors discussed in reports filed with the Bolsa Mexicana de Valores and in the U.S. Securities and Exchange Commission. We caution you that these important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation and in oral statements made by authorized officers of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. The Company undertakes no obligation to update or revise any forward-looking statements, including any financial guidance, whether as a result of new information, future events or otherwise except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260722662356/en/

Juan Sottil
CFO
+52 55 5950-0070 ext. 133
jsottil@vesta.com.mx
investor.relations@vesta.com.mx

Fernanda Bettinger
IRO
+52 55 5950-0070 ext. 163
mfbettinger@vesta.com.mx

Barbara Cano
InspIR Group
+1 (646) 452-2334
barbara@inspirgroup.com

Source: Corporación Inmobiliaria Vesta S.A.B. de C.V.