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    Armando RodriguezSignum Research

    Armando Rodriguez's questions to Vesta Real Estate Corporation SAB de CV (VTMX) leadership

    Armando Rodriguez's questions to Vesta Real Estate Corporation SAB de CV (VTMX) leadership • Q2 2025

    Question

    Armando Rodriguez of Signum Research asked for clarification on how much of the year-over-year change in net income could be attributed to the exchange rate.

    Answer

    CFO Juan Felipe Sottil Achutegui explained that the main driver for the decrease in net income was not the exchange rate, but rather a non-cash loss on the revaluation of investment properties. He advised focusing on pretax FFO, which excludes such volatile, non-cash items and offers a clearer view of the company's core operational performance.

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    Armando Rodriguez's questions to Vesta Real Estate Corporation SAB de CV (VTMX) leadership • Q1 2025

    Question

    Armando Rodriguez from Signum Research inquired about the purpose of the recent $100 million drawdown from Vesta's credit line, asking if it was for land reserves, acquisitions, or general financial management.

    Answer

    CEO Lorenzo Dominique Berho Carranza explained that the credit line will be used as cash is needed for various corporate purposes, including land acquisitions, share buybacks, or general working capital. He reiterated the goal of keeping leverage low and drawing down funds only when necessary.

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    Armando Rodriguez's questions to Vesta Real Estate Corporation SAB de CV (VTMX) leadership • Q4 2024

    Question

    Armando Rodriguez of Signum Research asked about the automotive sector, referencing news about automakers potentially moving production to the U.S. to avoid tariffs and questioning if key clients like Nissan were considering such a move.

    Answer

    CEO Lorenzo Dominique Berho Carranza addressed the concerns by noting that Nissan recently reaffirmed its commitment to Mexico and Aguascalientes. He believes it's too early to determine the impact of potential tariffs, as most companies in Mexico are highly profitable and integrated into the North American supply chain. He stated that near-shoring has been a long-term trend since NAFTA and expects companies with major, profitable investments to maintain and even expand their operations in Mexico once trade rules are clarified.

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