VESTA ANNOUNCES BOARD OF DIRECTORS CHANGE

MEXICO CITY, Dec. 20, 2021 /PRNewswire/ -- Corporación Inmobiliaria Vesta, S.A.B. de C.V. ("Vesta") (BMV: VESTA), one of Mexico's leading pure play industrial real estate developers, today announced the departure of Elizabeth Bell from its board of directors.

Since Jaguar now owns less than their initial 5% of the Company, Jaguar determined it is appropriate for Ms. Bell to resign from the Board of Directors effective December 31, 2021.

"On behalf of Vesta's shareholders and board, I would like to thank Liz for her important service and contributions to Vesta over the past year," said Lorenzo Dominique Berho, CEO of Vesta. "We wish her the very best in her future endeavors."

"I am extremely proud of Vesta's achievements and have truly enjoyed my brief time with this board and management team," said Bell. "Although, I feel now is the right time for me to transition off the board and focus on my other responsibilities. I'm excited to watch Vesta's continued future success."

Subsequent to her departure, Ms. Bell will be replaced by her appointed alternate board member, Ms. Daniela Berho Carranza, who has served on Vesta's board since 2014, also on the Company's Social and Environmental Responsibility Committee.  

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 September 30, 2021, Vesta owned 189 properties located in modern industrial parks in 15 states of Mexico totaling a GLA of 31.6 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.