Summit Industrial Income REIT (SMU) 2021年年度报告「TSX」.pdf

1、PROVEN.2021 REPORT TO UNITHOLDERSSummit generated another record year in 2021,achieving many strategic goals during exceptional market conditions.Looking ahead,we will continue to execute our proven growth strategy to deliver long-term value for our Unitholders.Summit Industrial Income REIT(“Summit”

2、or the“REIT”)is an unincorporated open-end trust focused on growing and managing a portfolio of light industrial properties across Canada.3720 AVE.DES GRANDES TOURELLES BOISBRIAND,QC TABLE OF CONTENTS 1 2021 Financial Highlights 1 2021 Operating Highlights 2 Message to Unitholders 6 Summit Overview

3、10 Proven,Experienced Leadership Team 11 Track Record of Growth and PerformanceYear Ended December 31($,000 Except Per Unit Amounts)2021 2020Revenue from Investment Properties$216,971$190,906Net Rental Income 161,427 140,110Net Income 1,131,994 206,502Funds from Operations(“FFO”)*(1)100,040 94,389FF

4、O per Unit*(1)$0.587$0.651FFO Payout Ratio without DRIP Benefit*(1)94.7%83.0%FFO Payout Ratio with DRIP Benefit*(1)73.8%67.6%Weighted Average Units Outstanding 170,390 145,089As at December 31 2021 2020Total Assets($,000)$4,542,994$3,172,213Total Unencumbered Assets($,000)2,996,333 1,054,481Weighted

5、 Average Effective Interest Rate(%)2.51%2.99%Weighted Average Term to Maturity(years)4.7 4.5Leverage(%)*28.5%37.4%Interest Coverage*4.1x 3.2xDebt Service Coverage*2.9x 2.1xDebt-to-Adjusted EBITDA*8.5x 8.8x(1)FFO includes strategic non-recurring mortgage prepayment costs of$20.0 million($0.118 per Un

6、it)for 2021.Excluding the prepayment costs,FFO per Unit was$0.705 for 2021.FFO payout ratio without DRIP benefit excluding the prepayment costs was 78.9%(61.5%including DRIP benefit)for 2021.2021 FINANCIAL HIGHLIGHTS2021 OPERATING HIGHLIGHTSSummit II REIT 2021 Report to Unitholders 1Revenue up 13.7%