4Q17 Quarterly Results Update Fideicomiso F/2157...

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February, 2018

4Q17 Quarterly Results UpdateFideicomiso F/2157 – FMTY14

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Consistent Performance1

Year Guidance(per share) (1)

Dividend(per share) (1)

Dividend Yield (2)

PortfolioValue (3) Properties States

Equity (3)

IssuancesLTV (4)

2015 0.75-0.80 0.8171 6.81% 4,537 22 5 - 15.43%

2016 0.90-0.95 0.9611 8.01% 7,995 35 82,261

23.17%

2017 1.00-1.03 1.0333 8.61% 9,607 43 9 1,489 24.15%

2018 1.04 - 1.058.67%8.75%

(1) Figures in Pesos per share

(2) On an IPO Price per share of PS. 12.00

(3) Figures in millions of Pesos

(4) As defined on Exhibit AA: (Loans + Interest Payable)/Total Assets

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Total Return Perfomance since IPO1

Mexbol: The S&P/BMV IPC seeks to measure the performance of the largest and most liquid stocks listed on the Bolsa Mexicana de Valores. The constituents are weighted by modified market cap.

UDITRAC: seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the inflation indexed sector of the Mexican government bods market, known as "Udibonos" market, as defined by the S&P/BMV Mexico Government 1+year UDIBONOS Index

CETETRC: seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the short term Mexico Treasury market, known as "CETES" market, as defined by the S&P/BMV Mexico Government CETES Index

M10TRAC: seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the intermediate term sector of the fixed rate Mexican government bonds market, also known as "BONOS M" market, as defined by the S&P/BMV Mexico Government 5-10 year MBONOS Index

FRMEX: The S&P/BMV Fibras Index is designed to measure the largest and most liquid real estate investment trusts (REITs) listed on the Bolsa Mexicana de Valores. The constituents are weighted by their value traded subject to a 25% stock capping.

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• Multi tenant, Class A, LEED certified office

building located in Guadalajara.

• A total of 8,050 m2 of GLA.

• Building is 64.7% leased with single net, peso-

denominated leases and a weighted average

term of 5.1 years in terms of income.

• Purchase price will be between Ps. 308.0 and

Ps. 332.0 million to be paid as the building

continues to be leased-up.

• In process of corporate restructuring or seller; first

installment will be of Ps. 214.4 million,

to be paid in 1H18.

• Occupied space is expected to generate NOI of Ps. 18.8 million pesos.

• Remaining space will be acquired at a 9.65% annual cap rate.

Recently Announced Acquisitions – Patria Building Highlights2

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• Zinc is a new industrial facility (build-to-suit) for the

relocation of an existing tenant of Fibra Mty.

• The total GLA is of 18,000 m2, to be built on a

41,345 m2 site in the Santa Catarina corridor,

in Monterrey.

• Total investment will be US $9.5 million, and it is

expected to generate annual NOI of US $0.8 million

• Lease will be triple net (NNN), with an initial

term of 10 years after substantial completion

• The property that is currently occupied by this

tenant, part of the initial portfolio,

will be contributed or sold for commercial and/or corporate use.

• We expect that the repositioning of this land will allow us to increase its value in at

least 25% in respect to its original acquisition cost.

Recently Announced Acquisitions – Zinc Building Highlights2

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Project Zinc – Repositioning Highlights2

CUPRUMUS $220 per m2

CEN|333US $350 - $450 per m2

New Cuprum Facility

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State of the Portfolio3

CUAUHTEMOC, CHIH 1,440

19. Monza #4 1,440

LOS MOCHIS, SIN 7,985

13. Casona #5 7,985

PARRAL, CHIH 5,888

14. Casona #4 5,888

CHIHUAHUA, CHIH 27,010

12. Casona #3 12,131

16. Monza #1 8,478

17. Monza #2 1,790

21. Monza #5 4,611

DELICIAS, CHIH 1,971

18. Monza #3 1,971

IRAPUATO, GTO 12,680

10. Casona #1 5,951

11. Casona #2 6,729

SALTILLO, COAH. 82,622

24. Providencia #1 13,717








HUIXQUILUCAN, MEX 15,137

32. Fortaleza 15,137

CIUDAD JUAREZ, CHIH 4,520

8. Cuadrante 4,520

GUADALAJARA, JAL 19,655

34. Redwood 11,605

QUERETARO, QRO 21,897

20. Santiago 16,497

35. Catacha #2 5,400

MONTERREY, NL 239,828

1. OEP Torre 1 13,578

2. OEP Torre 2 18,007

3. OEP Plaza Central 13,295

4. CEN|333 Neoris 20,283

5. CEN|333 Axtel 12,937

6. CEN|333 Atento 3,532

7. Danfoss 30,580

9. Cuprum 17,261

15. Catacha 5,431

22. Prometeo 8,135

23. Nico 1 43,272

33. Ciénega 25,223

43. Cuauhtémoc 10,294

SAN LUIS POTOSI, SLP. 89,951

36. Huasteco #1 38,503

37. Huasteco #2 15,728

38. Huasteco #3 11,532

39. Huasteco #4 5,750

40. Huasteco #5 1,059

41. Huasteco #6 3,380

42. Huasteco #7 13,999

504,534 m2 of GLA 530,584 m2 of GLA*

* Includes undergoing acquisitions of Patria (44) and Zinc (45)

44. Patria 8,050

Executed

Undergoing

45. Zinc 18,000

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State of the Portfolio – Quarterly Size Evolution3

132,698

172,365

207,541220,287 220,287

348,899364,036

406,264 404,289

494,240504,534 504,534

0

5

10

15

20

25

30

35

40

45

50

Nu

mb

er o

f P

rop

erti

es

Size of the Portfolio (square meters of GLA)

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17

* Does not include undergoing acquisitions of Patria (44) and Zinc (45)

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State of the Portfolio – Key Performance Indicators (as % of income)3

54.0%42.2%

3.8%

Asset Class

Office Industrial Retail

4.8% 5.9%

20.8%16.0%

10.4%8.0% 6.6%

0.1%

11.7%

4.7% 3.1%0.0%

3.4%0.6%

3.9%

4.8%10.7%

31.5%

47.5%57.9%

65.9%72.5% 72.6%

84.3% 89.0% 92.1% 92.1% 95.5% 96.1% 100.0%

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032

Lease Expiration Profile

Expiration Accumulated

Weighted average remaining term of 5.5 years. More than 47% or income starts expiring in 2022 *

55.1%

12.3%

10.2%

7.2%

6.2%

9.0%

Location

NL SLP Coah Jal Chih Other

93.8%

6.2%

Occupancy

Leased Available

66.1%

33.9%

Currency

USD MXN

* Percentage of income could increase to approximately 60% once certain renewals under negotiation are executed.

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State of the Portfolio (major tenants and economic activity, as % of income)3

3.6%

3.6%

3.7%

3.8%

4.0%

4.7%

4.8%

4.8%

4.9%

5.7%

Accenture

Epicor

Danfoss

PWC

Famsa

Cemex

Axtel

Central Star Logistics

Oracle

Crisa

Major Tenants (43.6% of income)

3.1%

4.2%

4.8%

5.2%

6.8%

7.5%

11.9%

16.3%

17.6%

22.6%

Logistics

Electronics

Communications

Financial Services

Other

Consumer Products

Services

Automotive

Technology

Industrial

Economic Sectors

11* Source: CBRE Marketview Monterrey Office, 3Q 2017

-

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

4Q2013

1Q2014

2Q2014

3Q2014

4Q2014

1Q2015

2Q2015

3Q2015

4Q2015

1Q2016

2Q2016

3Q2016

4Q2016

1Q2017

2Q2017

3Q2017

Net Absorption Trends of Major Office Markets in Mexico (last twelve months in square meters, linear trend)

Monterrey Mexico City Guadalajara

The office markets – net absorption trends4

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Thousands of Pesos 4Q 2017 3Q 2017 Δ% / bps

Number of Properties (1) 41 41 --

Gross Leasable Area (GLA) sqm 488,840 488,840 --

Occupancy Rate (GLA) 96.5% 96.5% --

Same-Property Income 213,318 205,797 3.7%

Same-Property Operating Expenses (25,781) (28,163) (8.5%)

Same-Property Net Operating Income (NOI) 187,537 177,634 5.6%

Same-Property NOI Margin 87.9% 86.3% 160 bps

Income from acquisitions/construction 9,495 4,413 115.2%

Operating Expenses from acquisitions/construction (97) (63) 54.0%

NOI from acquisitions/construction 9,398 4,350 116.0%

NOI Margin from acquisitions/construction 99.0% 98.6% 40 bps

Total Fibra Mty Income 222,813 210,210 6.0%

Total Operating Expenses (25,878) (28,226) (8.3%)

Total NOI 196,935 181,984 8.2%

Total NOI Margin 88.4% 86.6% 180 bps

Portfolio Performance – Same-Property5

(1) Same-Property comparison excludes Catacha 2 and Cuauhtémoc properties.

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NOI Margins – Benchmarks 5

81.5%

94.9%

81.2%83.6%

95.4%

90.8%88.4%

75%

80%

85%

90%

95%

100%

Office (1) Industrial (2) Retail (3) Overall (4)

NOI Margins

Sector Fibra Mty

1. NOI margin of the office component of diversified FIBRAS

2. Average NOI margin of industrial specialized FIBRAS and industrial component of diversified FIBRAS

3. There is no benchmark comparable to the retail component of Fibra Mty (mostly single-tenant,

triple net properties)

4. Average NOI margin of all diversified FIBRAs

N/A

* Source: Companies quarter reports for 3Q17 and 4Q17

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7 Selected Financial Information

Thousands of Pesos MXN(except figures per CBFI)

4Q17 3Q17 2Q17 1Q17 4Q16Δ%

4Q17 vs 3Q17Δ%

4Q17 vs 4Q16

Gross Income 222,813 210,210 196,168 200,792 188,283 6.0% 18.3%

Properties Expenses(net from Capex as Opex)

(25,878) (28,226) (26,355) (24,386) (23,111) (8.3%) 12.0%

Net Operating Income(NOI)

196,93588.4%

181,98486.6%

169,81386.6%

176,40687.9%

165,17287.7%

8.2% 19.2%

G&A Expenses (19,748) (18,506) (18,262) (18,783) (17,221) 6.7% 14.7%

EBITDA177,187

79.5%163,478

77.8%151,551

77.3%157,623

78.5%147,951

78.6%8.4% 19.8%

FFO FFO per CBFI (1)

173,1630.271

147,0530.247

129,8200.263

139,9110.289

125,9820.261

17.8%9.7%

37.5%3.8%

AFFO

AFFO per CBFI (1)

165,7570.260

144,5640.244

126,5280.256

132,4110.274

124,4850.258

14.7%6.6%

33.2%0.8%

(1) Financial indicators for 3Q17 consider 515,130,292 CBFIs in July and 635,500,587 CBFIs in august and september.

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* Organic Growth:

⁻ Income: Increase in Occupancy = ↑ 2% same buildings (+17,000 m2 of GLA)

⁻ Opex: Efficency and Economies of Scale = ↓ 2% same buildings (- Ps 1.6 mill)

* Acquisitions:

⁻ To continue achieving 20/20 vision

⁻ To pursue benefits of a potential buyers market

⁻ Take advantage of equity market windows

* Exchange Rate:

⁻ Weighted average range 18.75 – 19.25

* Approved Distribution Range:

⁻ 1.04 – 1.05 per CBFI

2018 Guidance7

0.60

0.70

0.80

0.90

1.00

1.10

4Q1

4

1Q1

5

2Q1

5

3Q1

5

4Q1

5

1Q1

6

2Q1

6

3Q1

6

4Q1

6

1Q1

7

2Q1

7

3Q1

7

4Q1

7

1Q1

8

2Q1

8

3Q1

8

4Q1

8

Historical Distribution and Guidance

Quarterly Distribution Annualized

Guidance

Year Distribution

1.05

1.04

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Leverage8

* Balance Sheet Strategy:

⁻ Loan to Value: 25% - 30% (↓ 35%)

⁻ Cash: to support operation, reducing negative carry

* Market Conditions:

⁻ Interest Rates in USD ↑

⁻ Short term interest rates in Pesos similar to cash on cash of buildings

⁻ Positive carry of leverage due to USD denominated rents in FibraMty

* Strategy:

⁻ Today’s Loan to Value

(estimated after distributions and some expenses): 25%

⁻ LTV with additional leverage and announced acquisitions: 27%

⁻ Stretch Loans Durations

4Q17 Quarterly Results Update Fideicomiso F/2157...

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