VESTA ANNOUNCES US$ 107.8 MILLION INVESTMENT IN TIJUANA

MEXICO CITY, April 19, 2022 /PRNewswire/ -- Corporación Inmobiliaria Vesta, S.A.B. de C.V. ("Vesta") (BMV: VESTA), one of the leading pure play industrial real estate developers in Mexico, today announced a new strategic investment in Tijuana, Baja California, to begin construction of the Vesta Park Mega Region. The total investment for this development will be up to US$ 101 million dollars. Construction began in 2021 with expected completion in 2023.

The announcement was made in the presence of the Governor of Baja California, Lic. Marina del Pilar Ávila Olmeda, and the State Secretary for Economic Development, Kurt Honold.

Vesta Park Mega Region will consist of 1.0 million square feet, with six world-class buildings which will be constructed with the flexibility to meet tenants' needs, also with LEED certification aligned with the highest global standards for sustainability as well as a full suite of services including energy, water and drainage.

The park is located 25 kilometers from the Mexico-US border, enabling optimal e-commerce and distribution, as well as access to specialized labor.

Lorenzo D. Berho, Vesta´s CEO, stated: "This park is directly aligned with Vesta's Level 3 strategy, as well as our national focus on continuing to expand in the most important development regions in the country. Baja California is one of our Company's five target growth regions and our second highest growth area in Mexico, where we are focused on allocating resources towards our aggressive growth."

About Vesta
Vesta is a best-in-class, fully integrated real estate company that owns, manages, acquires, sells and develops industrial properties in Mexico. As of December 31, 2021, Vesta owned 189 properties located in modern industrial parks in 15 states of Mexico totaling a GLA of 31.1 million ft² (2.9 million m²). The Company has multinational clients, focused on industries such as consumer retail, aerospace, automotive, food and beverage, logistics, medical devices and plastics, among others. For more information visit: www.vesta.com.mx 

Forward-looking statements
This communication may include statements about future events or other types of estimates in accordance with the legislation of the stock market. Statements about future events include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements and may contain words such as "believe", "anticipate", "expect", "anticipate", " will result", "plan", "continue "or any other similar word or phrase. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Vesta's control, which may result in material differences from what is stated or implied in the information so declared. Some of the factors that may affect results may include, but are not limited to: general and local economic and business conditions; employment levels; interest rates and regulations; uncertainties associated with the timing and amount of future financing; risks related to the outbreak and spread of COVID-19 and the measures that governments, agencies, police forces and / or health authorities take to attend to them; the financial conditions of the tenants; leasing risks, including those associated with the ability to rent vacant space; rental rates in future leases and fluctuations in exchange rates. The Company's forward-looking statements and objectives are based on certain assumptions, including that the general economy and interest rates remain stable, real estate market conditions remain consistent, competition for acquisitions remains consistent with the current climate, and that capital markets continue to provide access to capital and / or debt. All forward-looking statements in this release refer to the date when made. The Company assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or for any other reason, except as required by law. Additional information about these assumptions, risks and uncertainties is contained in the Company's statements to the National Banking and Securities Commission and in the latest reports to the Mexican Stock Exchange. These reports are also available on the company's website: www.vesta.com.mx

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SOURCE Corporación Inmobiliaria Vesta, S.A.B. de C.V.