When did VTMX pay its Q3 2026 dividend, and how much was it per share?

VTMX paid the Q3 2026 cash dividend on October 15, 2026, equivalent to MXN$0.3669 per ordinary share. The aggregate cash dividend was US$18.7 million.

Vesta raises 2026 revenue growth outlook to 11.5%–12.5%

Q: What revenue growth does VTMX expect for 2026?

VTMX expects 2026 revenue growth of 11.5% to 12.5%. This replaces prior guidance of 10% to 11% and reflects higher-than-expected rental income from new properties leased during the year.

Q: How much leasing activity did VTMX report in Q3 2026?

VTMX reported leasing activity covering 2.3 million square feet. This included 1.6 million square feet of new leases and 0.7 million square feet of renewals, with a weighted average lease term of approximately five years.

Q: What yield does VTMX expect on projects under construction?

VTMX reported an expected yield on cost of 10.2% for projects under construction. Those projects were currently unleased.

Vesta raised its 2026 revenue-growth range to 11.5%–12.5% and reported record quarterly leasing activity.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

6-K

Rhea-AI Filing Summary

Vesta Real Estate Corporation, S.A.B. de C.V. (VTMX) reported third-quarter 2026 results and revised its full-year outlook. Total revenues rose 9.9% to US$79.6 million; rental revenue excluding energy was US$77.5 million, up 10.8%. Adjusted NOI increased 10.4% to US$72.9 million and adjusted EBITDA increased 9.2% to US$65.2 million, while Vesta FFO was US$47.1 million, down 0.7%. After-tax Vesta FFO fell 19.0% to US$33.6 million. Profit was US$110.6 million versus US$25.0 million, including a US$60.2 million gain on revaluation of investment properties and a US$6.7 million income tax benefit.

2026 revenue growth is now expected at 11.5%–12.5%, versus prior guidance of 10%–11%; Adjusted NOI and EBITDA margins are expected at 94.0% and 84.0%. Leasing reached 2.3 million square feet and occupancy was 93.9%. Projects under construction totaled 3.3 million square feet, with estimated investment of US$282.5 million. S&P and Fitch upgraded the long-term issuer credit rating to BBB with stable outlook. Vesta announced a US$105 million principal prepayment under two private financing agreements and paid a US$18.7 million cash dividend on October 15, 2026.

3 points · 1 major

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance works How Sentiment works

0 major · 2 points

Hollow bars mark forward-looking points. How the balance works

Positive

Major point. Forward-looking: it has not happened yet and may not happen.2026 revenue-growth guidance rose to 11.5%–12.5%.
Moderate pointThird-quarter total revenues increased 9.9% to US$79.6 million.
Moderate pointS&P and Fitch upgraded the long-term issuer credit rating to BBB, stable outlook.

Negative

Moderate pointAfter-tax Vesta FFO declined 19.0% to US$33.6 million.
Moderate pointQuarterly interest expense rose 47.4% to US$18.1 million.

Filing Explained

The completed offering increased Vesta’s share count, reducing existing holders’ ownership percentages absent offsets; net proceeds were intended for land, property and development investment.

This Form 6-K furnishes Vesta’s third-quarter interim report and details a completed global offering: additional shares were issued, increasing the share count and reducing existing holders’ ownership percentages absent offsetting changes.

The offering closed on May 18, 2026 with 1,199,285 ADSs, each representing 10 common shares, and 58,054,784 Mexican-offering common shares; on June 4, 2026, underwriters exercised the greenshoe for 7,749,200 additional common shares.

The offering, including the greenshoe, generated approximately US$269,024,352 in gross proceeds; Vesta said net proceeds are intended for land or property acquisitions, infrastructure and industrial-building development.

At September 30, 2026, cash and cash equivalents were US$240.0 million, compared with US$336.9 million at December 31, 2025, and outstanding debt was US$1,072.1 million, all classified as long-term debt.

Key Figures

Total revenues: US$79.6 million Profit for the period: US$110.6 million Vesta FFO after tax: US$33.6 million +5 more

8 metrics

Total revenues US$79.6 million Q3 2026, up 9.9% year over year

Profit for the period US$110.6 million Q3 2026, compared with US$25.0 million in Q3 2025

Vesta FFO after tax US$33.6 million Q3 2026, down 19.0% from US$41.5 million in Q3 2025

Expected revenue growth 11.5% to 12.5% Full-year 2026 guidance, revised from 10% to 11%

Leasing activity 2.3 million square feet Q3 2026, including 1.6 million square feet of new leases

Portfolio occupancy 93.9% At September 30, 2026; increased 220 basis points sequentially

Outstanding debt US$1,072.1 million As of September 30, 2026; all long-term debt

Estimated investment in projects under construction Approximately US$282.5 million Projects totaled 3.3 million square feet

Key Terms

Adjusted NOI, Vesta FFO, yield on cost, straight-line rent adjustment, +1 more

5 terms

Adjusted NOI financial

"Adjusted Net Operating Income (Adjusted NOI)"

Adjusted NOI (Adjusted Net Operating Income) is a property’s rental income minus routine operating costs, with one-time, unusual, or non-recurring items added back or removed to show the property’s typical cash-earning power. Think of it like looking at a household budget after excluding a large, one-off repair to see usual monthly spending; investors use adjusted NOI to compare properties, value assets, and estimate steady cash flow more reliably.

Vesta FFO financial

"Vesta Funds from Operations (Vesta FFO)"

yield on cost financial

"expected yield on cost of 10.2%"

straight-line rent adjustment financial

"increase related to IFRS straight-line rent adjustment"

Build to Suit (BTS) technical

"Build to Suit (BTS): a building which is custom-made"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What revenue growth does VTMX expect for 2026?

VTMX expects 2026 revenue growth of 11.5% to 12.5%. This replaces prior guidance of 10% to 11% and reflects higher-than-expected rental income from new properties leased during the year.

How much leasing activity did VTMX report in Q3 2026?

VTMX reported leasing activity covering 2.3 million square feet. This included 1.6 million square feet of new leases and 0.7 million square feet of renewals, with a weighted average lease term of approximately five years.

What yield does VTMX expect on projects under construction?

VTMX reported an expected yield on cost of 10.2% for projects under construction. Those projects were currently unleased.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/22/2026 - 04:00 PM EDT Accepted by SEC EDGAR 10/22/2026 - 04:00 PM EDT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2026

Commission File Number: 001-41730

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

(Exact name of registrant as specified in its charter)

Paseo de los Tamarindos No. 90,

Torre II, Piso 28, Col. Bosques de las

Lomas

Cuajimalpa, C.P. 05120

Mexico City

United Mexican States

+52 (55) 5950-0070

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F

Form 40-F

TABLE OF CONTENTS


EXHIBIT
99.1			Press release dated October 22 ,2026 – Vesta Q3 2026 Earnings Results
99.2			Unaudited Condensed Consolidated Interim Financial Statements as of September 30, 2026 and for the nine-month period ended September 30, 2026 and 2025

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


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


By:	/s/ Juan Felipe Sottil Achutegui
	Name:	Juan Felipe Sottil Achutegui
	Title:	Chief Financial Officer

Date: October 22, 2026

Exhibit 99.1

2026

EARNINGS RESULTS

Conference Call

Friday, October 23, 2026

9:00 a.m. (Mexico City Time)

11:00 a.m. (Eastern Time)

To participate in the conference call please connect via webcast or by dialing:

International Toll-Free: +1 (833) 461-5787

International Toll: +1 (585) 542-9983

International Numbers: https://help.events.q4inc.com/eahc/international-dial-in-numbers

Participant Code: 260 989 460

Webcast: https://events.q4inc.com/attendee/260989460

The replay will be available two hours after the call has ended and can be accessed from Vesta's IR website.

Juan Sottil

CFO

+52 55 5950-0070 ext. 133

jsottil@vesta.com.mx

Fernanda Bettinger

IRO

+52 55 5950-0070 ext. 163

mfbettinger@vesta.com.mx

investor.relations@vesta.com.mx

Barbara Cano

InspIR Group

+1 (646) 452-2334

barbara@inspirgroup.com

Mexico City, October 22, 2026 – Corporación Inmobiliaria Vesta S.A.B. de C.V., (“Vesta”, or the “Company”) (BMV: VESTA; NYSE: VTMX), a leading industrial real estate company in Mexico, today announced results for the third quarter ended September 30, 2026. All figures included herein were prepared in accordance with International Financial Reporting Standards (IFRS), which differ in certain significant respects from U.S. GAAP. This information should be read in conjunction with, and is qualified in its entirety by reference to, Vesta's consolidated financial statements, including the notes thereto. Vesta’s financial results are stated in US dollars unless otherwise noted.

Q3 2026 Highlights

•Vesta has revised its full-year 2026 guidance: Revenue is expected to increase by between 11.5% and 12.5%, an increase from the previously projected 10% to 11% increase, reflecting higher-than-expected rental income from new properties leased during the year. Adjusted NOI and Adjusted EBITDA margins are expected to reach 94.0% and 84.0%, respectively, an increase from prior guidance of 93.5% and 83.0%, reflecting the Company's continued focus on expense discipline.

•Vesta delivered strong financial results for the third quarter of 2026. Total rental revenue increased to US$ 79.6 million, while rental revenue excluding energy reached US$ 77.5 million, a 10.8% year over year increase. Adjusted Net Operating Income (Adjusted NOI1) margin was 94.1% for the third quarter 2026, while Adjusted EBITDA2 margin was 84.1%. Vesta Funds from Operations (Vesta FFO), totaled US$ 47.1 million for the third quarter 2026, a 0.7% decrease compared to US$ 47.4 million for the third quarter of 2025.

•Third quarter 2026 leasing activity reached 2.3 million square feet (sf), including a record 1.6 million sf of new leases signed with leading companies across the electronics, e-commerce, logistics, automotive and consumer goods sectors, reflecting strong leasing momentum across multiple regions of Mexico. Lease renewals accounted for 0.7 million sf, with a weighted average lease term of approximately five years. Total portfolio occupancy improved by 220 basis points sequentially, reaching 93.9% at quarter end, while stabilized and same-store occupancy reached 93.9% and 95.5%, respectively.

•Renewals and re-leasing activity for the third quarter totaled 1.3 million sf, with a trailing 12-month weighted average leasing spread of 10.0%. Same-store NOI for the third quarter 2026 increased by 4.4% year over year.

•As leasing momentum continues to build, Vesta began construction of five new inventory buildings: one in Ciudad Juárez, three in Monterrey and one in Guanajuato, in markets where our occupancy has increased significantly over the past year and where demand continues to strengthen. During the quarter, Vesta delivered two buildings: one in Guadalajara, ahead of its originally scheduled fourth-quarter delivery, and one building in Querétaro, both of which were fully occupied upon delivery. Following these construction starts and deliveries, construction in progress totaled 3.3 million sf at the end of the third quarter 2026, representing an estimated investment of approximately US$ 282.5 million. The projects under construction are currently unleased and have an expected yield on cost of 10.2%.

•During the third quarter, S&P Global Ratings and Fitch Ratings upgraded Vesta's long-term issuer credit rating to BBB with stable outlook from BBB- with positive outlook. These actions reflect both agencies' recognition of the strength and quality of Vesta's portfolio and reinforce the Company's financial flexibility, liquidity and strong balance sheet.

•On September 9, 2026, the Company announced the prepayment of US$ 105 million in outstanding principal under two private financing agreements, retiring both obligations ahead of their scheduled maturities. These prepayments enhance Vesta's financial flexibility and leave the Company with no significant debt maturities in the coming years.

•Subsequent to quarter's end, on October 1, 2026, the Company acquired a land parcel in Mexico with 688,000 square feet of buildable area. This acquisition represents Vesta's continued progress in fulfilling the land requirements aligned with the Vesta Route 2030 strategy.

•Also subsequent to quarter's end, on October 15, 2026, Vesta paid a cash dividend of US$ 18.7 million for the third quarter of 2026, equivalent to MXN$ 0.3669 per ordinary share.

1 Adjusted NOI and Adjusted NOI Margin calculations have been modified, please refer to Notes and Disclaimers.

2 Adjusted EBITDA and Adjusted EBITDA Margin calculations have been modified, please refer to Notes and Disclaimers.


						2


				9 months
Financial Indicators (million)	Q3 2026	Q3 2025	Chg. %	2026	2025	Chg. %
Total Rental Income	79.6	72.4	9.9	234.8	206.8	13.6
Total Revenues (-) Energy	77.5	69.9	10.8	227.6	200.3	13.6
Adjusted NOI	72.9	66.1	10.4	214.8	190.0	13.1
Adjusted NOI Margin %	94.1%	94.4%		94.4%	94.9%
Adjusted EBITDA	65.2	59.7	9.2	190.9	170.0	12.3
Adjusted EBITDA Margin %	84.1%	85.3%		83.9%	84.9%
EBITDA Per Share	0.0694	0.0696	-0.2	0.2123	0.1973	7.6
Total Comprehensive Income	112.6	27.6	307.9	317.9	71.3	345.7
Vesta FFO	47.1	47.4	-0.7	136.3	135.5	0.6
Vesta FFO Per Share	0.0501	0.0552	-9.2	0.1516	0.1573	-3.6
Vesta FFO (-) Tax Expense	33.6	41.5	-19.0	101.8	115.3	-11.7
Vesta FFO (-) Tax Expense Per Share	0.0358	0.0484	-26.0	0.1132	0.1339	-15.4
Diluted EPS	0.1199	0.0322	272.8	0.3536	0.0828	327.0
Shares (average)	939.0	858.3	9.4	899.2	861.4	4.4

•Third quarter 2026 total rental revenues were US$ 79.6 million; a 9.9% year over year increase from US$ 72.4 million in the third quarter 2025. Total revenues excluding energy increased to US$ 77.5 million; a 10.8% year over year increase from US$ 69.9 million in 2025, driven by US$ 8.3 million in revenue from new contracts and a favorable inflationary impact of US$ 2.6 million.

•Third quarter 2026 Adjusted NOI increased 10.4% to US$ 72.9 million, compared to US$ 66.1 million in the third quarter of 2025. Adjusted NOI margin for the third quarter was 94.1%; a 33 basis point year over year decrease, primarily driven by an increased proportion of costs relative to rental income.

•Adjusted EBITDA for the quarter increased 9.2% to US$ 65.2 million, compared with US$ 59.7 million in the third quarter 2025. Adjusted EBITDA margin for the quarter was 84.1%, a 123 basis point decrease primarily due to higher costs and increased administrative expenses compared with the prior-year period.

•Third quarter 2026 Vesta FFO excluding current tax was US$ 47.1 million, compared to US$ 47.4 million in the third quarter of 2025. The decrease was primarily due to higher interest expense for the period.

•Third quarter 2026 Vesta funds from operations after tax (Vesta FFO less tax expense) decreased to US$ 33.6 million, compared to US$ 41.5 million in the prior-year period. Vesta FFO after tax per share was US$ 0.0358 for the third quarter of 2026, compared with US$ 0.0484 for the same period in 2025, representing a 26.0% decrease. This decrease primarily reflected higher current tax expense during the quarter and a higher number of shares outstanding following the equity offering earlier this year.

•Third quarter 2026 total comprehensive income was US$ 112.6 million, compared with US$ 27.6 million in the third quarter of 2025, primarily due to a higher gain from the revaluation of investment properties and a favorable tax impact during the quarter.

•The total value of Vesta’s investment property portfolio was US$ 4.5 billion as of September 30, 2026, representing an 8.5% increase from US$ 4.1 billion as of December 31, 2025.


						3

Letter from the CEO

Strong results driven by an initial turning point in the Mexican industrial real estate market

Global industry continued to evolve in the third quarter amid geopolitical uncertainty, shifting trade policies and rapid technological change. The reconfiguration of global supply chains is creating new opportunities for countries with competitive manufacturing capabilities and strong regional trade relationships. At the same time, accelerating investment in artificial intelligence is driving demand across electronics, advanced manufacturing and related infrastructure, reshaping industrial investment priorities.

Against this backdrop, Mexico continues to strengthen its position as a strategic manufacturing and logistics partner to the United States. Following a period of slower investment, we are seeing encouraging signs of recovery in machinery and equipment investment, alongside growing electronics exports and continued supply-chain regionalization. While trade negotiations and geopolitical uncertainty remain important considerations for investment decisions, Mexico's deep integration with North American markets and competitive position in emerging industries provide reasons for measured optimism.

At Vesta, we are seeing these opportunities translate into tangible results. Following some years of softer industrial market conditions, we are at an initial turning point where there are encouraging early signs of improvement in market fundamentals, supported by renewed customer confidence and concrete investment commitments across key sectors and geographies. Demand is driven by strong activity in electronics and AI-related industries, continued resilience in the automotive sector, and sustained growth in e-commerce. Our third-quarter performance reflects these trends, with record leasing activity, higher occupancy, strong financial results and increased development activity. Importantly, our results demonstrate Vesta's ability to capture demand across our markets and industries, even as the broader industrial market continues to adjust.

Third quarter total leasing activity reached 2.3 million square feet, representing a record high. Of this total, 1.6 million square feet represented new leasing activity across our operating regions, with new and existing customers across logistics, electronics, automotive, food and beverage and sustained growth in AI-related industries and e-commerce demand. Notable leasing activity included BMW, DSV Logistics and Mercado Libre, underscoring the strength of our customer relationships and the diversification of our tenant base. Additionally, 0.7 million square feet consisted of lease renewals, with a weighted average lease term of five years. Total portfolio occupancy therefore improved by 220 basis points sequentially, reaching 93.9% at the end of the third quarter, while stabilized and same-store occupancy reached 93.9% and 95.5%, respectively.

Our results reflect the advantages of Vesta's local presence, experienced commercial team and disciplined approach to site selection. We have focused on developing high-quality industrial facilities in strategic submarkets with access to labor, energy and essential logistics infrastructure. These attributes, combined with our long-standing customer relationships, position us to respond effectively to evolving customer requirements and convert demand into leases.

Strong leasing performance, together with our strategic land acquisitions, has enabled us to initiate 1.9 million square feet of new construction, marking another important milestone in the execution of our Route 2030 strategy. Vesta began construction of five new inventory buildings: one in Ciudad Juárez, three in Monterrey and one in Guanajuato, reflecting our disciplined approach to deploying capital in markets with demonstrated demand. In Monterrey, the successful leasing of our existing Apodaca portfolio has enabled us to advance development at our new Vesta Park Monterrey. During the quarter, Vesta delivered two buildings: one ahead of schedule in Guadalajara and another in Querétaro, both fully occupied upon delivery. Following these construction starts and deliveries, construction in progress totaled 3.3 million square feet at the end of the third quarter 2026, representing an estimated investment of approximately US$ 282.5 million.

We continue to prioritize investment in high-potential markets, particularly Monterrey, Mexico City and Guadalajara, where we see attractive long-term fundamentals. Following quarter-end, we acquired land in Mexico, comprising 688,921 square feet, further strengthening our development capacity in this strategic market.

Vesta also delivered strong financial results for the third quarter, with rental revenue increasing 10.8% year over year to US$77.5 million. Adjusted NOI increased 10.4% year over year to US$72.9 million, with a margin of 94.1%. Adjusted EBITDA increased 9.2% year over year to US$65.2 million with an 84.1% margin. Vesta FFO for the quarter, excluding current income tax, totaled US$47.1 million, a 0.7% decrease compared with the third quarter of 2025.


						4

Reflecting our strong operating performance and the earlier-than-anticipated commencement of rental income from newly leased properties, we are raising our full-year 2026 guidance. We now expect revenue growth of 11.5% to 12.5%, compared with our previous guidance of 10% to 11%. We are also increasing our Adjusted NOI and Adjusted EBITDA margin guidance to 94.0% and 84.0%, respectively, from 93.5% and 83.0%, reflecting continued operating efficiency and expense discipline.

Financial strength remains central to our growth strategy. During the quarter, S&P Global Ratings and Fitch Ratings upgraded Vesta’s long-term issuer credit rating to BBB with stable outlook, from BBB- with a positive outlook. These upgrades recognize the strength and quality of Vesta’s portfolio and financial profile, reinforcing our ability to pursue growth opportunities while maintaining a disciplined balance sheet.

On September 9, 2026, Vesta announced the prepayment of US$ 105 million in outstanding principal under two private financing arrangements, retiring both obligations ahead of their scheduled maturities. This transaction further strengthens our financial flexibility and reduces our near-term refinancing requirements.

Looking ahead, we remain confident in Vesta's strategy and in Mexico's long-term role within North American manufacturing and logistics supply chains. At the same time, we recognize that the pace of market recovery may vary, and we remain disciplined in assessing new investment opportunities. Our priority is to sustain strong operating performance while expanding our portfolio in response to demonstrated customer demand.

I am particularly proud of our team's execution this quarter. Their local market expertise, customer focus and commitment to delivering high-quality industrial facilities are central to Vesta's success. As we advance Route 2030, we remain focused on creating sustainable, long-term value for our shareholders.

Thank you for your continued support,

Lorenzo D. Berho,

CEO


						5

Third Quarter Financial Summary

Consolidated Statutory Accounts

The accompanying condensed consolidated interim financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS), which differ in certain significant respects from U.S. GAAP. This information should be read in conjunction with, and is qualified in its entirety by, reference to the Company's consolidated financial statements, including the notes thereto, and the financial information is stated in U.S. dollars unless otherwise noted.

All consolidated financial statements have been prepared on a historical cost basis, excluding investment properties and financial instruments at the end of each reporting period. Historical cost is largely based on the fair value of the consideration given in exchange for assets. Third quarter 2026 results are presented in comparison to the same period of the prior year and on an adjusted basis based on the same accounting rules.

Revenues


				9 months
Consolidated Interim and Annual Statements of Profit and Other Comprehensive Income (million)	Q3 2026	Q3 2025	Chg. %	2026	2025	Chg. %
Revenues
Rental income	74.0	66.0	12.1	214.7	188.9	13.7
Reimbursable building services	3.5	3.9	(10.4)	12.9	11.4	13.6
Energy Income	2.1	2.5	(17.1)	7.2	6.5	11.0
Management Fees	0.0	0.0	(100.0)	0.0	0.0	(100.0)
Total Revenues	79.6	72.4	9.9	234.8	206.8	13.6
Total Operating Property Costs	(8.5)	(8.2)	2.7	(24.6)	(20.0)	23.3
Related to properties that generate rental income	(7.1)	(7.2)	(1.8)	(20.7)	(17.3)	20.1
Costs related to properties	(4.6)	(3.9)	17.3	(12.8)	(10.3)	24.4
Costs related to energy	(2.5)	(3.3)	(24.1)	(8.0)	(7.0)	13.9
Related to properties that did not generate rental income	(1.4)	(1.0)	35.0	(3.9)	(2.7)	43.6
Adjusted Net Operating Income	72.9	66.1	10.4	214.8	190.0	13.1

Vesta’s third quarter 2026 total revenues increased 9.9% to US$ 79.6 million, from US$ 72.4 million in the third quarter 2025. The US$ 7.1 million increase in rental revenue was primarily attributable to: [i] a US$ 8.32 million, or 11.5%, increase in rental income from space occupied in the third quarter of 2026 which had been vacant during the prior year period; [ii] a US$ 2.56 million, or 3.5%, increase from inflation-linked rent adjustments on leased properties in the third quarter of 2026; [iii] a US$ 0.8 million, or 1.1%, increase related to IFRS straight-line rent adjustment; and [iv] a US$ 0.59 million, or 0.8%, increase in rental income resulting from the translation of peso-denominated rents into U.S. dollars.

These increases were partially offset by: [i] a US$ 4.02 million, or 5.6%, decrease in rental revenue from leases that expired and were not renewed during the third quarter 2026; [ii] a US$ 0.41 million decrease in reimbursements of expenses paid by Vesta on behalf of tenants; [iii] a US$ 0.42 million decrease in energy income; [iv] a US$ 0.26 million decrease resulting from the renewal of certain leases at lower rental rates in exchange for longer lease terms, and [v] a US$ 0.01 million decrease attributable to a tenant improvement fee received in the third quarter 2025 that did not recur in 2026.

89.4% of Vesta’s third-quarter 2026 rental revenue was U.S. dollar denominated and indexed to the U.S. Consumer Price Index (CPI), unchanged from 89.4% in the third quarter of 2025. Peso-denominated contracts are adjusted annually based on the Mexican Consumer Price Index (Índice Nacional de Precios al Consumidor, or INPC).


						6

Property Operating Costs

Vesta’s third quarter 2026 total operating costs were US$ 8.5 million, compared to US$ 8.2 million in the third quarter 2025; a US$ 0.2 million, or 2.7%, increase primarily driven by higher costs associated with non-revenue-generating properties.

During the third quarter 2026, costs related to investment properties generating rental revenue amounted to US$ 7.1 million, compared to US$ 7.2 million for the same period in 2025. This decrease was primarily attributable to a 24.1% reduction in energy-related costs, to US$ 2.5 million from US$ 3.3 million during the third quarter of 2025.

Costs associated with investment properties that did not generate rental revenue during the third quarter of 2026 increased by US$ 0.4 million, to US$ 1.4 million. This was primarily due to higher property taxes, insurance costs and other property-related expenses associated with new Vesta Parks.

Adjusted Net Operating Income (Adjusted NOI) 3

Third quarter Adjusted Net Operating Income increased 10.4% year over year to US$ 72.9 million, while Adjusted NOI margin decreased 33 basis-points to 94.1%. The margin decrease was primarily attributable to higher property operating costs.

General and Administrative Expenses


				9 months
Consolidated Interim and Annual Statements of Profit and Other Comprehensive Income (million)	Q3 2026	Q3 2025	Chg. %	2026	2025	Chg. %
General and Administrative Expenses	(8.8)	(7.8)	12.3	(26.9)	(24.4)	10.2
Stock- based Compensation Expenses	2.4	2.5	(2.9)	6.9	7.1	(3.1)
Depreciation	(0.5)	(0.5)	4.5	(1.5)	(1.2)	17.2
Adjusted EBITDA	65.2	59.7	9.2	190.9	170.0	12.3

Third quarter 2026 general and administrative expenses totaled US$ 8.8 million, compared with US$ 7.8 million in the third quarter of 2025, representing a 12.3% increase. The increase was primarily attributable to higher employee salaries and short-term benefits, as well as higher audit, legal and consulting fees.

Expenses related to the share-based payment of Vesta’s compensation plan amounted to US$ 2.4 million for the third quarter of 2026. For detailed information on Vesta's expenses, please refer to Note 19 within the Company’s financial statements.

Depreciation

Third quarter 2026 depreciation increased to US$ 0.52 million, from US$ 0.49 million in the third quarter of 2025. This amount reflects the depreciation of office space and equipment, as well as the amortization of Vesta's operating systems.

Adjusted EBITDA 4

Third quarter 2026 Adjusted EBITDA increased 9.2% to US$ 65.2 million, from US$ 59.7 million in the third quarter of 2025. Adjusted EBITDA margin decreased by 123-basis-points to 84.1%, from 85.3% in the prior-year period. The margin decrease was primarily attributable to higher property operating costs and administrative expenses during the third quarter 2026.

_________________________________

1.NOI and NOI Margin calculations have been modified, please refer to Notes and Disclaimers.


						7

2.EBITDA and EBITDA margin calculations have been updated; please refer to the Notes and Disclaimers section.

Other Income and Expense


				9 months
Consolidated Interim and Annual Statements of Profit and Other Comprehensive Income (million)	Q3 2026	Q3 2025	Chg. %	2026	2025	Chg. %
Other Income and Expenses
Interest income	2.8	0.7	334.6	7.2	2.0	253.65
Other income	1.4	1.2	13.0	7.4	3.7	103.64
Other expense	(1.7)	(0.6)	176.9	(5.2)	(2.1)	153.39
Transaction cost on debt issuance	0.0	0.0	na	0.0	0.0	na
Interest expense	(18.1)	(12.3)	47.4	(54.6)	(34.5)	58.46
Exchange gain (loss)	(2.3)	2.4	(193.3)	0.9	8.7	(89.95)
Share of results of associates	(0.1)	0.0	562.6	0.1	0.0	1007.5
Gain from properties sold	0.0	0.4	(100.0)	0.0	0.0	100.00
Gain on revaluation of investment properties	60.2	4.8	1,155.5	163.2	(3.4)	4,855.02
Total other income (expenses)	42.2	(3.5)	1,322.0	118.9	(25.6)	564.27

Total other income for the third quarter of 2026 was US$ 42.2 million, compared with other loss of US$ 3.5 million in the third quarter of 2025, primarily reflecting an a higher gain from the revaluation of investment properties and higher interest income and other income, partially offset by higher interest expense and other expenses and a foreign exchange loss.

Third quarter 2026 interest income increased to US$ 2.8 million, from US$ 0.7 million in the third quarter of 2025, reflecting higher interest-bearing cash balances during the third quarter of 2026 as compared with the prior year period.

Third quarter 2026 other income totaled US$ 1.4 million, reflecting the net effect of the Company’s other income items.

Third quarter 2026 other expenses totaled US$ 1.7 million expense, reflecting the net effect of the Company’s other expense items.

Third quarter 2026 interest expense increased to US$ 18.1 million, from US$ 12.3 million for the same quarter of 2025, reflecting a higher debt balance year over year.

Vesta’s third quarter 2026 foreign exchange loss was US$ 2.3 million, compared with a US$ 2.4 million gain in the third quarter of 2025. This loss primarily relates to sequential currency movements in Vesta’s U.S. dollar-denominated debt balance during the third quarter of 2026 within WTN, the Company’s only subsidiary with the Mexican peso as its functional currency.

The revaluation of investment properties in the third quarter of 2026 resulted in a US$ 60.2 million gain, compared with a US$ 4.8 million gain in the third quarter of 2025. This year over year increase was primarily driven by the commencement of buildings under construction and new leasing activity during the third quarter 2026.


						8

Profit Before Income Taxes


				9 months
Consolidated Interim and Annual Statements of Profit and Other Comprehensive Income (million)	Q3 2026	Q3 2025	Chg. %	2026	2025	Chg. %
Profit Before Income Taxes	104.0	52.4	98.4	300.7	135.5	121.9
Income Tax Expense	6.7	(27.4)	124.3	12.8	(67.9)	118.8
Current Tax	(13.4)	(5.9)	128.1	(34.5)	(20.2)	70.9
Deferred Tax	20.1	(21.6)	193.3	47.2	(47.7)	199.0
Profit for the Period	110.6	25.0	343.1	313.5	67.6	363.5
Remeasurements of defined benefit plans	(0.4)	0.0	na	(0.4)	0.0	na
Valuation of derivative financial instruments	0.0	0.0	na	0.0	0.0	na
Exchange differences on translating other functional currency operations	2.4	2.6	(8.4)	4.9	3.7	32.6
Total Comprehensive Income for the period	112.6	27.6	307.9	317.9	71.3	345.7

Due to the above factors, third quarter 2026 profit before income taxes reached US$ 104.0 million, compared with US$ 52.4 million in the same quarter of last year.

Income Tax Expense

Vesta reported a US$ 6.7 million income tax benefit in the third quarter of 2026, compared with a US$ 27.4 million income tax expense in the third quarter 2025.

To calculate income tax expense for each quarter of the year, the Company estimated its 2026 effective tax rate, taking into account balance stability, the statutory tax rate, the expected effects of exchange rate movements on tax balances, and anticipated inflationary effects.

Third Quarter 2026 Profit

Due to the above, the Company’s third quarter 2026 profit was US$ 110.6 million, compared with a profit of US$ 25.0 million for the third quarter 2025.

Total Comprehensive Income (Loss) for the Period

Vesta reported US$ 112.6 million in total comprehensive income for the third quarter 2026, compared with US$ 27.6 million in the third quarter of 2025, reflecting the factors described above. Total comprehensive income was partially increased by a US$ 2.4 million gain from exchange differences related to the translation of other functional currency operations.


						9

Funds from Operations (FFO)


				9 months
FFO Reconciliation (million)	Q3 2026	Q3 2025	Chg. %	2026	2025	Chg. %
Profit for the year	110.6	25.0	343.1	313.5	67.6	363.5
Gain on revaluation of investment properties	(60.2)	(4.8)	1,155.5	(163.2)	3.4	(4,855.0)
Gain in properties sold	0.0	(0.4)	na	0.0	0.0	na
FFO	50.5	19.8	155.2	150.3	71.1	111.5
Stock- based Compensation Expenses	2.4	2.5	(2.9)	6.9	7.1	(3.1)
Exchange Gain (Loss)	2.3	(2.4)	193.3	(0.9)	(8.7)	(90.0)
Depreciation	0.5	0.5	4.5	1.5	1.2	17.2
Other income	(1.4)	(1.2)	13.0	(7.4)	(3.7)	103.6
Other income energy	1.7	0.6	176.9	5.2	2.1	153.4
Energy	0.5	0.9	(44.4)	0.8	0.5	51.2
Share of results of associates	0.1	0.0	562.6	(0.1)	0.0	-1007.5
Interest income	(2.8)	(0.7)	334.6	(7.2)	(2.0)	253.7
Income Tax Expense	(6.7)	27.4	(124.3)	(12.8)	67.9	na
Vesta FFO	47.1	47.4	(0.7)	136.3	135.5	0.6
Vesta FFO per share	0.0501	0.0552	(9.2)	0.1516	0.1573	(3.6)
Current Tax	(13.4)	(5.9)	128.1	(34.5)	(20.2)	na
Vesta FFO (-) Tax Expense	33.6	41.5	(19.0)	101.8	115.3	(11.7)
Vesta FFO (-) Tax Expense per share	0.0358	0.0484	(26.0)	0.1132	0.1339	(15.4)

Vesta FFO for the third quarter 2026 decreased 0.7% to US$ 47.1 million, compared with US$ 47.4 million in the third quarter of 2025. Vesta FFO per share decreased to US$ 0.0501 per share for the third quarter of 2026, a 9.2% decrease compared to the third quarter of 2025.

Third quarter 2026 Vesta FFO less tax expense was US$ 33.6 million, or US$ 0.0358 per share, compared with US$ 41.5 million, or US$ 0.0484 per share, in the third quarter 2025.

Capex

Investing activities during the third quarter of 2026 were primarily related to construction expenditures for new buildings under development in Mexico's Northern, Bajío and Central regions, as well as related infrastructure investments, resulting in total cash outflows from investing activities of US$ 71.1 million.

Debt

As of September 30, 2026, Vesta's total outstanding debt was US$ 1,072.1 million, all of which consisted of long-term debt. At quarter end, the Company had no secured debt; 100% of its debt was denominated in U.S. dollars and 86.0% of its debt carried fixed interest rates.

Stabilized Portfolio

Vesta reports stabilized portfolio occupancy and same-store occupancy, as management believes these metrics provide useful measures of the performance of the Company’s operating portfolio. These metrics are intended to align with industry reporting practices and facilitate comparisons between Vesta and its publicly traded industrial real estate peers.

The operating portfolio includes properties which have reached 80% occupancy or have been completed for more than one year, whichever occurs first.


						10


	Q3 2025			Q3 2026
Region	Stabilized Portfolio		Growth SF	Stabilized Portfolio
	SF	%	SF	SF	%
Central Mexico	8,277,642	20.3%	294,882	8,572,524	19.6%
Bajio	19,401,467	47.5%	1,469,661	20,871,128	47.7%
North	13,140,669	32.2%	1,136,124	14,276,793	32.7%
Total	40,819,778	100%	2,900,666	43,720,444	100%


	Q3 2025		Q3 2026
	Occupancy SF	% Total	Occupancy SF	% Total
Central Mexico	8,277,642	100.0%	8,572,524	100.0%
Bajio	18,175,489	93.7%	19,399,383	92.9%
North	12,059,502	91.8%	13,076,406	91.6%
Total	38,512,633	94.3%	41,048,312	93.9%

Same-Store Portfolio

The same-store portfolio includes only properties that have been stabilized throughout both the current and comparative reporting periods. This definition aligns with industry reporting practices and facilitates the comparisons between Vesta and its publicly traded industrial real estate peers. Vesta has provided a reconciliation of the current and previous definitions below.


	Q3 2025			Q3 2026
Region	Same Store Portfolio		Growth SF	Same Store Portfolio
	SF	%	SF	SF	%
Central Mexico	7,256,308	19.1%	1,021,423	8,277,731	20.3%
Bajio	18,303,810	48.2%	1,097,670	19,401,480	47.5%
North	12,432,776	32.7%	708,078	13,140,854	32.2%
Total	37,992,894	100%	2,827,170	40,820,064	100%


	Q3 2025		Q3 2026
	Occupancy SF	% Total	Occupancy SF	% Total
Central Mexico	7,256,308	100.0%	8,277,731	100.0%
Bajio	17,390,761	95.0%	18,622,157	96.0%
North	11,351,609	91.3%	12,100,059	92.1%
Total	35,998,678	94.8%	38,999,946	95.5%

Total Portfolio

As of September 30, 2026, the Company’s portfolio comprised 233 high-quality industrial assets with a total gross leasable area (GLA) of 43.7 million square feet (4.1 million square meters [m2]) with 89.4% of the Company’s rental revenue denominated in U.S. dollars. The majority of Vesta’s properties are located in Mexico's principal growth markets, including the Northern, Central and Bajío regions. Vesta’s tenants are predominantly multinational companies, and the Company maintains diversified exposure across industries including electronics, e-commerce and online retail, food and beverage, automotive, aerospace and logistics, among others.


						11


	Q2 2026		Q3 2026
Region	Total Portfolio		Growth SF	Total Portfolio
	SF	%	SF	SF	%
Central Mexico	8,572,523	19.8%	1	8,572,524	19.6%
Bajio	20,475,284	47.3%	395,844	20,871,128	47.7%
North	14,277,794	33.0%	(1,001)	14,276,793	32.7%
Total	43,325,600	100%	394,844	43,720,444	100%

Total Vacancy

Vesta’s property portfolio had a 6.1% vacancy rate as of September 30, 2026.


	Q2 2026		Q3 2026
	Vacant SF	% Total	Vacant SF	% Total
Central Mexico	0	—%	0	0.0%
Bajio	2,107,508	10.3%	1,471,745	7.1%
North	1,474,192	10.3%	1,200,387	8.4%
Total	3,581,700	8.3%	2,672,132	6.1%

Projects Under Construction

Vesta is currently developing 3,270,255 sf (303,817 m2) in inventory buildings.

Projects under Construction

Project

GLA (SF)

GLA (m2)

Investment (1) (thousand USD)

Type

Expected Termination Date

City

Region

Megaregion 7

375,625

34,897

32,379

Inventory

Apr-27

Tijuana

North

Paso del Norte 2

152,019

14,123

12,943

Inventory

Feb-27

Ciudad Juárez

North

Paso del Norte 5

270,798

25,158

23,989

Inventory

May-27

Ciudad Juárez

North

Monterrey 1

305,383

28,371

26,106

Inventory

Aug-27

Monterrey

North

Monterrey 2

251,380

23,354

21,657

Inventory

Aug-27

Monterrey

North

Monterrey 3

811,502

75,391

62,791

Inventory

Oct-27

Monterrey

North

Guadalajara II 1

454,444

42,219

35,526

Inventory

Jun-27

Guadalajara

Bajio

Puerto Interior 4

248,646

23,100

15,373

Inventory

Jun-27

Silao

Bajio

Santa Barbara 1

223,965

20,807

28,778

Inventory

Jan-27

Valle de México

Central

Santa Barbara 2

176,493

16,397

22,957

Inventory

Jan-27

Valle de México

Central

Total

3,270,255

303,817

282.5

(1)Investment figures include the proportional cost of land and related infrastructure.

*Adjusted based on final leasing terms.


						12

Land Reserves

The Company had 47.9 million sf in land reserves as of September 30, 2026.


	June 30, 2026	September 30, 2026
Region	Gross Land Area (SF)	Gross Land Area (SF)	% Chg.
Tijuana	3,313,939	3,313,939	—%
Monterrey	15,256,736	12,805,395	-16.1%
Juárez	3,961,693	3,686,395	-6.9%
San Luis Potosí	2,555,692	2,555,692	—%
Querétaro	3,561,966	3,561,966	—%
Guanajuato	3,404,979	2,996,005	-12.0%
Aguascalientes	10,281,833	10,281,833	—%
SMA	3,597,220	3,597,220	—%
Guadalajara	5,099,809	5,099,809	—%
Puebla	0	0	na
Mexico City	0	0	na
Total	51,033,865	47,898,252	-6.1%


						13

Summary of 9-Month 2026 Results


				9 months
Consolidated Interim and Annual Statements of Profit and Other Comprehensive Income (million)	Q3 2026	Q3 2025	Chg. %	2026	2025	Chg. %
Revenues
Rental income	74.0	66.0	12.1	214.7	188.9	13.7
Reimbursable building services	3.5	3.9	(10.4)	12.9	11.4	13.6
Energy Income	2.1	2.5	(17.1)	7.2	6.5	11.0
Management Fees	0.0	0.0	(100.0)	0.0	0.0	(100.0)
Total Revenues	79.6	72.4	9.9	234.8	206.8	13.6
Total Operating Property Costs	(8.5)	(8.2)	2.7	(24.6)	(20.0)	23.3
Related to properties that generate rental income	(7.1)	(7.2)	(1.8)	(20.7)	(17.3)	20.1
Costs related to properties	(4.6)	(3.9)	17.3	(12.8)	(10.3)	24.4
Costs related to energy	(2.5)	(3.3)	(24.1)	(8.0)	(7.0)	13.9
Related to properties that did not generate rental income	(1.36)	(1.01)	35.0	(3.9)	(2.7)	43.6
Adjusted Net Operating Income	72.9	66.1	10.4	214.8	190.0	13.1
General and Administrative Expenses	(8.8)	(7.8)	12.3	(26.9)	(24.4)	10.2
Stock- based Compensation Expenses	2.4	2.5	(2.9)	6.9	7.1	(3.1)
Depreciation	(0.5)	(0.5)	4.5	(1.5)	(1.2)	17.2
Adjusted EBITDA	65.2	59.7	9.2	190.9	170.0	12.3
Other Income and Expenses
Interest income	2.8	0.7	334.6	7.2	2.0	253.7
Other income	1.4	1.2	13.0	7.4	3.7	103.6
Other expense	(1.7)	(0.6)	176.9	(5.2)	(2.1)	153.4
Transaction cost on debt issuance	0.0	0.0	na	0.0	0.0	na
Interest expense	(18.1)	(12.3)	47.4	(54.6)	(34.5)	58.5
Exchange gain (loss)	(2.3)	2.4	(193.3)	0.9	8.7	(90.0)
Share of results of associates	(0.1)	0.0	562.6	0.1	0.0	1007.5
Gain from properties sold	0.0	0.4	(100.0)	0.0	0.0	100.0
Gain on revaluation of investment properties	60.2	4.8	1,155.5	163.2	(3.4)	4,855.0
Total other income (expenses)	42.2	(3.5)	1,322.0	118.9	(25.6)	564.3
Profit Before Income Taxes	104.0	52.4	98.4	300.7	135.5	121.9
Income Tax Expense	6.7	(27.4)	124.3	12.8	(67.9)	118.8
Current Tax	(13.4)	(5.9)	128.1	(34.5)	(20.2)	70.9
Deferred Tax	20.1	(21.6)	193.3	47.2	(47.7)	199.0
Profit for the Period	110.6	25.0	343.1	313.5	67.6	363.5
Remeasurements of defined benefit plans	(0.4)	0.0	na	(0.4)	0.0	na
Valuation of derivative financial instruments	0.0	0.0	na	0.0	0.0	na
Exchange differences on translating other functional currency operations	2.4	2.6	(8.4)	4.9	3.7	32.6
Total Comprehensive Income for the period	112.6	27.6	307.9	317.9	71.3	345.7
Shares (average)	939.0	858.3	9.4	899.2	861.4	4.4
Diluted EPS	0.1199	0.0322		0.3536	0.0828

Revenues increased 13.6% to US$ 234.8 million for the first nine months of 2026, compared with US$ 206.8 million for the same period in 2025. Operating costs increased 23.3% to US$ 24.6 million, compared with US$


						14

20.0 million in 2025, primarily due to higher costs associated with both income-generating properties and properties that did not generate rental income.

Adjusted Net Operating Income for the first nine months of 2026 was US$ 214.8 million, representing a 13.1% increase from US$ 190.0 million in the same period of 2025. The Adjusted NOI margin for the nine months of 2026 was 94.4%, compared with 94.9% in the same period in 2025.

General and administrative expenses for the first nine months of 2026 increased 10.2% to US$ 26.9 million, compared to US$ 24.4 million for the same period in 2025. The increase was primarily due to higher employee salaries and short-term benefits, as well as higher audit, legal, consulting, marketing and other expenses.

Adjusted EBITDA for the first nine months of 2026 was US$ 190.9 million, representing a 12.3% increase from US$ 170.0 million in the same period of 2025. The Adjusted EBITDA margin for the first nine months of 2026 was 83.9% compared with 84.9% for the same period of 2025.

Total other income for the first nine months of 2026 was US$ 118.9 million, compared with total other expense of US$ 25.6 million in the prior year period. The improvement primarily reflected a gain on the revaluation of investment properties and higher interest income and other income, partially offset by higher interest expense and other expenses.

The Company’s profit before income taxes was US$ 300.7 million for the first nine months of 2026.

The Company reported an income tax benefit of US$ 12.8 million for the nine months ended September 30, 2026, compared with an income tax expense of US$ 67.9 million for the nine months ended September 30, 2025. This year over year improvement was primarily due to a deferred tax benefit of US$ 47.2 million, compared with a deferred tax expense of US$ 47.7 million in the prior year period.

Profit for the first nine months of 2026 was US$ 313.5 million, compared with US$ 67.6 million in the same period of 2025, driven by the factors described above.

Vesta reported US$ 317.9 million in total comprehensive income for the nine-months ended September 30, 2026, compared with US$ 71.3 million for the same period in 2025, reflecting the factors previously described. This gain was partially increased by a US$ 4.9 million gain from foreign currency translation.

Capital expenditures for the first nine months of 2026 totaled US$ 161.9 million, primarily related to investment property development and infrastructure investments.


						15

Subsequent Events

Dividends:

Vesta shareholders approved a US$ 74.8 million dividend distribution at the Company's Annual General Shareholders' Meeting held on April 22, 2026, payable in quarterly installments using the closing exchange rate on the day preceding each payment. The quarterly dividend per share will be determined based on the number of shares outstanding on the distribution date.

Vesta paid a cash dividend for the third quarter of 2026 on October, 15 2026, equivalent to 0.3669 Mexican Pesos per ordinary share. The dividend was paid through the S.D. Indeval S.A. de C.V. Institución para el Depósito de Valores (INDEVAL) and was recognized as dividends payable in the Company’s financial statements as of September 30, 2026.


Dividends per share
Q1 2026			0.3819
Q2 2026			0.3499
Q3 2026			0.3669


						16

Appendix: Financial Tables


				9 months
Consolidated Interim and Annual Statements of Profit and Other Comprehensive Income (million)	Q3 2026	Q3 2025	Chg. %	2026	2025	Chg. %
Revenues
Rental income	74.0	66.0	12.1	214.7	188.9	13.7
Reimbursable building services	3.5	3.9	(10.4)	12.9	11.4	13.6
Energy Income	2.1	2.5	(17.1)	7.2	6.5	11.0
Management Fees	0.0	0.0	(100.0)	0.0	0.0	(100.0)
Total Revenues	79.6	72.4	9.9	234.8	206.8	13.6
Total Operating Property Costs	(8.5)	(8.2)	2.7	(24.6)	(20.0)	23.3
Related to properties that generate rental income	(7.1)	(7.2)	(1.8)	(20.7)	(17.3)	20.1
Costs related to properties	(4.6)	(3.9)	17.3	(12.8)	(10.3)	24.4
Costs related to energy	(2.5)	(3.3)	(24.1)	(8.0)	(7.0)	13.9
Related to properties that did not generate rental income	(1.36)	(1.01)	35.0	(3.9)	(2.7)	43.6
Adjusted Net Operating Income	72.9	66.1	10.4	214.8	190.0	13.1
General and Administrative Expenses	(8.8)	(7.8)	12.3	(26.9)	(24.4)	10.2
Stock- based Compensation Expenses	2.4	2.5	(2.9)	6.9	7.1	(3.1)
Depreciation	(0.5)	(0.5)	4.5	(1.5)	(1.2)	17.2
Adjusted EBITDA	65.2	59.7	9.2	190.9	170.0	12.3
Other Income and Expenses
Interest income	2.8	0.7	334.6	7.2	2.0	253.7
Other income	1.4	1.2	13.0	7.4	3.7	103.6
Other expense	(1.7)	(0.6)	176.9	(5.2)	(2.1)	153.4
Transaction cost on debt issuance	0.0	0.0	na	0.0	0.0	na
Interest expense	(18.1)	(12.3)	47.4	(54.6)	(34.5)	58.5
Exchange gain (loss)	(2.3)	2.4	(193.3)	0.9	8.7	(90.0)
Share of results of associates	(0.1)	0.0	562.6	0.1	0.0	1007.5
Gain from properties sold	0.0	0.4	(100.0)	0.0	0.0	100.0
Gain on revaluation of investment properties	60.2	4.8	1,155.5	163.2	(3.4)	4,855.0
Total other income (expenses)	42.2	(3.5)	1,322.0	118.9	(25.6)	564.3
Profit Before Income Taxes	104.0	52.4	98.4	300.7	135.5	121.9
Income Tax Expense	6.7	(27.4)	124.3	12.8	(67.9)	118.8
Current Tax	(13.4)	(5.9)	128.1	(34.5)	(20.2)	70.9
Deferred Tax	20.1	(21.6)	193.3	47.2	(47.7)	199.0
Profit for the Period	110.6	25.0	343.1	313.5	67.6	363.5
Remeasurements of defined benefit plans	(0.4)	0.0	na	(0.4)	0.0	na
Valuation of derivative financial instruments	0.0	0.0	na	0.0	0.0	na
Exchange differences on translating other functional currency operations	2.4	2.6	(8.4)	4.9	3.7	32.6
Total Comprehensive Income for the period	112.6	27.6	307.9	317.9	71.3	345.7
Shares (average)	939.0	858.3	9.4	899.2	861.4	4.4
Diluted EPS	0.1199	0.0322		0.3536	0.0828


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Consolidated Statements of Financial Position (million)	September 30, 2026	December 31, 2025
ASSETS
CURRENT
Cash and cash equivalents	240.0	336.9
Financial assets held for trading	0.0	0.0
Recoverable taxes	51.7	47.5
Operating lease receivable	9.3	8.8
Due from related parties	0.0	0.0
Prepaid expenses	7.7	4.1
Guarantee deposits made	0.0	0.0
Total current assets	308.7	397.4
NON-CURRENT
Investment properties	4,481.2	4,129.4
Right-of-use assets-net of depreciation	1.1	1.4
Office equipment - net	2.4	2.3
Derivative financial instruments	0.0	0.0
Investment in associates	5.8	3.5
Guarantee Deposits made	7.6	8.5
Total non-current assets	4,498.1	4,145.1

TOTAL ASSETS	4,806.8	4,542.5

LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Current portion of long-term debt	0.0	1.8
Financial leases payable-short term	0.6	0.6
Accrued interest	13.1	10.0
Accounts payable	31.2	30.8
Income tax payable	0.5	14.2
Dividends payable	37.4	17.4
Accrued expenses	6.4	7.3
Total current liabilities	89.3	82.1
NON-CURRENT
Long-term debt	1,072.1	1,273.4
Financial leases payable-long term	0.5	0.8
Derivative financial instruments	0.0	0.0
Guarantee deposits received	34.1	30.0
Long-term accounts payable	11.7	23.4
Employees benefits	4.1	3.7
Deferred income taxes	334.0	381.3
Total non-current liabilities	1,456.6	1,712.6

TOTAL LIABILITIES	1,545.9	1,794.7

STOCKHOLDERS' EQUITY
Capital stock	627.6	580.0
Additional paid-in capital	1,111.5	884.2
Retained earnings	1,559.5	1,320.8
Share-base payments reserve	2.3	7.3
Remeasurements of defined benefit plans	(0.4)	0.0
Foreign currency translation	(39.5)	(44.4)
Valuation of derivative financial instruments	0.0	0.0
Total shareholders' equity	3,261.0	2,747.8

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	4,806.8	4,542.5


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Consolidated Statements of Cash Flows (million)	September 30, 2026	September 30, 2025
Cash flow from operating activities:
Profit before income taxes	300.7	135.5
Adjustments:
Depreciation	0.9	0.7
Depreciation of right of use assets	0.5	0.6
Gain on revaluation of investment properties	(163.2)	3.4
Straight-line rent adjustment	(2.8)	0.0
Effect of foreign exchange rates	4.1	(4.9)
Interest income	(7.2)	(2.0)
Interest expense	52.0	33.4
Amortization debt issuance-related expenses	2.6	1.1
Gain share of results of associates	(0.1)	0.0
Expense recognized related to share-based payments	7.6	10.4
Employee Benefits	0.8	1.1
Gain in sale of investment property	0.0	0.0
Working capital adjustments
(Increase) decrease in:
Operating leases receivables- net	(0.6)	(4.3)
Recoverable taxes	(4.2)	(7.3)
Guarantee Deposits made	0.2	(0.2)
Prepaid expenses	(3.5)	(6.0)
(Increase) decrease in:
Accounts payable	(22.6)	0.3
Accrued expenses	(0.9)	(0.2)
Guarantee Deposits received	4.1	3.1
Interest received	7.2	2.0
Pension Fund	(0.9)	0.0
Income Tax Paid	(48.1)	(20.3)
Net cash generated by operating activities	126.79	146.2

Cash flow from investing activities
Purchases of investment property	(161.9)	(226.5)
Sale of investment property	0.0	5.5
Acquisition of office furniture	(1.1)	(0.5)
Investment in associates	(2.3)	(3.4)
Net cash used in investing activities	(165.3)	(224.9)

Cash flow from financing activities
Interest paid	(48.9)	(27.6)
Loans obtained	0.0	650.0
Loans Paid	(205.6)	(48.6)
Cost of debt issuance	0.0	(4.3)
Dividends paid	(54.8)	(50.9)
Equity issuance proceeds	269.0	0.0
Equity issuance costs paid	(6.6)	0.0
Repurchase of treasury shares	0.0	(36.4)
Payment of lease liabilities	(0.6)	(0.6)
Net cash (used in) generated by financing activities	(47.5)	481.5

Effects of exchange rates changes on cash	(11.7)	0.1
Net Increase in cash and cash equivalents	(97.6)	402.9
Cash, restricted cash and cash equivalents at the beginning of period	337.6	184.9
Cash, restricted cash and cash equivalents at the end of period	240.0	587.8


						19


Consolidated Statements of Changes in Stockholders’ Equity (million)	Capital Stock	Additional Paid-in Capital	Retained Earnings	Share-based payment reserve	Remeasurements of Defined Benefit Plans	Foreign Currency Translation	Total Stockholders´ Equity

Balances as of January 1, 2025	585.5	905.7	1,148.4	3.9	0.0	(46.2)	2,597.3
Dividends declared	0.0	0.0	(69.5)	0.0	0.0	0.0	(69.5)
Share-based payments	0.1	0.3	0.0	10.0	0.0	0.0	10.4
Repurchase of shares	(7.6)	(28.8)	0.0	0.0	0.0	0.0	(36.4)
Vested shares	2.0	7.0	0.0	(9.0)	0.0	0.0	0.0
Comprehensive income (loss)	0.0	0.0	67.6	0.0	0.0	3.7	71.3
Balances as of September 30, 2025	580.0	884.2	1146.5	4.9	0.0	(42.5)	2573.0
Balances as of January 1, 2026	580.0	884.2	1,320.8	7.3	0.0	(44.4)	2,747.8
Equity Issuance	45.2	217.2	0.0	0.0	0.0	0.0	262.4
Vested shares	2.4	10.2	0.0	(12.6)	0.0	0.0	0.0
Share-based payments	0.0	0.0	0.0	7.7	0.0	0.0	7.6
Dividends declared	0.0	0.0	(74.8)	0.0	(0.4)	0.0	(74.8)
Comprehensive income (loss)	0.0	0.0	313.5	0.0	(0.4)	4.9	317.9
Balances as of September 30, 2026	627.6	1,111.5	1,559.5	2.3	(0.4)	(39.5)	3,261.0


						20

Notes and Disclaimers

Interim Consolidated Condensed Financial Statements: The financial information included in this release for the three-month periods ended September 30, 2026 and 2025 has not been audited.

Exchange Rate: The exchange rates used for figures expressed in US dollars (US$) were as follows:


Date			Exchange Rate
Balance Sheet
September 30, 2025			18.383
September 30, 2026			17.841
Income Statement
Q3 2025 (average)			18.647
Q3 2026 (average)			17.251
9M 2025 (average)			19.531
9M 2026 (average)			17.407

“Adjusted EBITDA” as the sum of profit for the year adjusted by (a) total income tax expense (b) interest income, (c) other income, (d) other expense (e) finance costs, (f) exchange gain (loss) – net, (g) gain on sale of investment property, (h) gain on revaluation of investment property, (i) depreciation, (j) stock-based compensation expense (k) energy income and (l) energy costs during the relevant period.

“Adjusted EBITDA margin” means Adjusted EBITDA divided by total revenues minus energy income.

“NOI” means the sum of Adjusted EBITDA plus general and administrative expenses, reversing the discrete depreciation expense impact in Adjusted EBITDA minus stock-based compensation expense during the relevant period.

“Adjusted NOI” means the sum of NOI plus property operating costs related to properties that did not generate rental income during the relevant period minus energy costs.

“Adjusted NOI margin” means Adjusted NOI divided by total revenues minus energy income.

“FFO” means profit for the period, excluding: (i) gain on sale of investment property and (ii) gain on revaluation of investment property.

“Vesta FFO” means the sum of FFO, as adjusted for the impact of exchange gain (loss) - net, other income – net, other energy income net, interest income, total income tax expense, depreciation and stock-based compensation expense and equity plus.

Prior period: Unless otherwise stated, the comparison of operating and financial figures compares the same prior year period.

Percentages may not sum to total due to rounding.

Build to Suit (BTS): a building which is custom-made in design and construction in order to meet client-specific needs.

Inventory buildings: buildings constructed in accordance with standard industry specifications, for those clients that do not require a BTS building.


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Analyst Coverage

In compliance with the internal regulation of the BMV, article 4.033.01 Frac. VIII, Vesta is covered by analysts at the following brokerages:

•Actinver Casa de Bolsa, S.A. de C.V. Grupo Financiero Actinver

•Barclays Bank Mexico, S.A.

•Bank of America

•BBVA Bancomer S.A.

•Bradesco BBI Research

•BTG Pactual US Capital LLC

•Casa de Bolsa Santander S.A. de C.V.

•Citigroup Global Markets Inc.

•GBM Grupo Bursátil Mexicano S.A. de C.V.

•Grupo Signum, S.A. de C.V.

•Goldman Sachs

•Itaú Corretora de Valores S.A

•J.P. Morgan Casa de Bolsa, S.A. de C.V.

•Morgan Stanley

•Scotia Inverlat Casa de Bolsa S.A. de C.V.

•UBS Global Research


About Vesta

Vesta is a leading real estate owner, developer and asset manager of industrial buildings and distribution centers in Mexico. As of September 30, 2026, Vesta owned 233 properties located in modern industrial parks across 16 states in Mexico, totaling 43.7 million sf (4.1 million m2) of gross leasable area (GLA). Vesta serves a diversified base of world-class clients across a range of industries, including automotive, aerospace, retail, high-tech, pharmaceuticals, electronics, food and beverage and packaging. For additional information, please visit: www.vesta.com.mx.

Note on Forward-Looking Statements

This report may contain certain forward-looking statements and information relating to the Company and its expected future performance that reflects the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like “believe,” “anticipate,” “expect,” “envisages,” “will likely result,” or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, regional and local economic and political climates; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties; (v) tax structuring and changes in income tax laws and rates; (vi) availability of financing and


						22

capital, the levels of debt that we maintain; (vii) environmental uncertainties, including risks of natural disasters; (viii) risks related to any potential health crisis and the measures that governments, agencies, law enforcement and/or health authorities implement to address such crisis; and (ix) those additional factors discussed in reports filed with the Bolsa Mexicana de Valores and in the U.S. Securities and Exchange Commission. We caution you that these important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation and in oral statements made by authorized officers of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. The Company undertakes no obligation to update or revise any forward-looking statements, including any financial guidance, whether as a result of new information, future events or otherwise except as may be required by law.

Definitions / Discussion of Non-GAAP Financial Measures:

Change in the Calculation Methodology for Adjusted EBITDA, NOI, Adjusted NOI and Vesta FFO

During the year ended December 31, 2023, the Company began to experience various effects associated with its tenants expanding their operations in Mexico, including that among other impacts resulted in increased energy consumption which Vesta recognizes as energy income and energy cost during the period. Management determined that this income and these costs represent a business activity that are not actively managed by the Company and are not related directly to its core operations or strategy. Accordingly, the Company updated its calculation methodology for Adjusted EBITDA, NOI, Adjusted NOI and Vesta FFO to exclude energy income and energy costs.

Vesta has applied the change in calculation methodology retroactively. This change had an impact on Adjusted EBITDA, NOI, Adjusted NOI and Vesta FFO of US $0.3 million, (US $0.4 million) and US $0.0 million as of December 31, 2023, 2022 and 2021.

Reconciliation of Adjusted EBITDA, NOI and Adjusted NOI

The table below sets forth a reconciliation of Adjusted EBITDA, NOI and Adjusted NOI to profit for the year, the most directly comparable IFRS financial measure, for each of the periods indicated, as reported in the Company’s financial statements. Vesta calculates Adjusted EBITDA as the sum of profit for the year adjusted by (a) total income tax expense (b) interest income, (c) other income, (d) other expense (e) finance costs, (f) exchange gain (loss) – net, (g) gain on sale of investment property, (h) gain on revaluation of investment property, (i) depreciation, (j) stock-based compensation expense (k) energy income and (l) energy costs during the relevant period. The Company calculates NOI as the sum of Adjusted EBITDA plus general and administrative expenses, reversing the discrete depreciation expense impact in Adjusted EBITDA minus and stock-based compensation expense during the relevant period. Adjusted NOI is calculated as the sum of NOI plus property operating costs related to properties that did not generate rental income during the relevant period.

Adjusted EBITDA is not a financial measure recognized under IFRS and does not purport to be an alternative to profit or total comprehensive income for the period as a measure of operating performance or to cash flows from operating activities as a measure of liquidity. Additionally, Adjusted EBITDA is not intended to be a measure of free cash flow available for management’s discretionary use, as it does not consider certain cash requirements such as interest payments and tax payments. The Company's presentation of Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of Vesta's results as reported under IFRS. Management uses Adjusted EBITDA to measure and evaluate the operating performance of our principal business (which consists of developing, leasing and managing industrial properties) before the Company's cost of capital and income tax expense. Adjusted EBITDA is a measure commonly used in the industry, and Vesta presents Adjusted EBITDA to supplement investor understanding of operating performance. Vesta's management believes that Adjusted EBITDA provides investors and analysts with a measure of operating results unaffected by differences in tenant’s operation, capital structures, capital investment cycles and fair value adjustments of related assets among otherwise comparable companies.

NOI or Adjusted NOI are not financial measures recognized under IFRS and do not purport to be alternatives to profit for the period or total comprehensive income as measures of operating performance. NOI and Adjusted NOI are supplemental industry reporting measures used to evaluate the performance of our investments in real estate assets and our operating results. In addition, Adjusted NOI is a leading indicator of


						23

the trends related to NOI as Vesta typically has a strong development portfolio of “speculative buildings.” Under IAS 40, Vesta has adopted the fair value model to value its investment property and, for that reason, financial statements do not reflect depreciation nor amortization of our investment properties, and therefore such items are not part of the calculations of NOI or Adjusted NOI. The Company believes NOI is useful to investors as a performance measure and that it provides useful information regarding results of operations and financial condition because, when compared across periods, it reflects the impact on operations from trends in occupancy rates, rental rates, operating costs and acquisition and development activity on an unleveraged basis, providing perspective not immediately apparent from profit for the year. For example, interest expense is not necessarily linked to the operating performance of a real estate asset and is often incurred at the corporate level as opposed to the property level. Similarly, interest expense may be incurred at the property level even though the financing proceeds may be used at the corporate level (e.g., used for other investment activity). As so defined, NOI and Adjusted NOI may not be comparable to net operating income or similar measures reported by other real estate companies that define NOI or Adjusted NOI differently.

Adjusted EBITDA margin, NOI margin and Adjusted NOI margin

The table below also includes a reconciliation of Adjusted EBITDA margin, NOI margin and Adjusted NOI margin to profit for the year, the most directly comparable IFRS financial measure, for each of the periods indicated, as reported in the Company’s financial statements. The Company presents margin ratios to rental income plus management fees minus electricity income to compliment the understanding of operating performance; measuring the Company's profitability compared to the revenues directly related to our business activities.


	For the Three-Month		9 months
	Period Ended September 30,		Cumulative
	2026	2025	2026	2025

	(millions of US$)
Profit for the period	110.6	25.0	313.5	67.6
(+) Total income tax expense	(6.7)	27.4	(12.8)	67.9
(-) Interest income	(2.8)	(0.7)	(7.2)	(2.0)
(-) Other income (1)	(1.4)	(1.2)	(7.4)	(3.7)
(-) Other expense	1.7	0.6	5.2	2.1
(+) Finance costs	18.1	12.3	54.6	34.5
(-) Exchange gain (loss) - net	2.3	(2.4)	(0.9)	(8.7)
(-) Share of results of associates	0.1	0.0	(0.1)	0.0
(-) Gain on sale of investment property	0.0	(0.4)	0.0	0.0
(-) Gain on revaluation of investment property	(60.2)	(4.8)	(163.2)	3.4
(+) Depreciation	0.5	0.5	1.5	1.2
(+) Share-based compensation	2.4	2.5	6.9	7.1
(-) Energy income	(2.1)	(2.5)	(7.2)	(6.5)
(+) Energy Expense	2.5	3.3	8.0	7.0
Adjusted EBITDA	65.2	59.7	190.9	170.0
(+) General and administrative expenses	8.8	7.8	26.9	24.4
(-) Share -based compensation expense	(2.4)	(2.5)	(6.9)	(7.1)
NOI	71.6	65.1	210.9	187.3
(+) Property operating costs related to properties that did not generate rental income	1.4	1.0	3.9	2.7
Adjusted NOI	72.9	66.1	214.8	190.0

(1)Includes other income and expenses unrelated to our operations, such as reimbursements from insurance proceeds, and sales of office equipment. For more information, see note 14 to the audited consolidated financial statements.


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Reconciliation of FFO and Vesta FFO

The table below sets forth a reconciliation of FFO and Vesta FFO to profit for the period, the most directly comparable IFRS financial measure, for each of the periods indicated, as reported in the Company’s financial statements. FFO is calculated as profit for the period, excluding: (i) gain on sale of investment property and (ii) gain on revaluation of investment property. Vesta FFO is calculated as the sum of FFO, as adjusted for the impact of exchange gain (loss) - net, other income – net, interest income, total income tax expense, depreciation and long-term incentive plan and equity plus.

The Company believes that Vesta FFO is useful to investors as a supplemental performance measure because it excludes the effects of certain items which can create significant earnings volatility, but which do not directly relate to business operations. Vesta FFO can facilitate comparisons of operating performance between periods, while also providing a more meaningful predictor of future earnings potential. Additionally, since Vesta FFO does not capture the level of capital expenditures per maintenance and improvements to maintain the operating performance of properties, which has a material economic impact on operating results, management believes Vesta FFO’s usefulness as a measure of performance may be limited.

The Company's calculation of FFO and Vesta FFO may not be comparable to FFO measures reported by other REITs or real estate companies that define or interpret the FFO definition differently. FFO and Vesta FFO should not be considered as a substitute for net profit for the period attributable to our common shareholders.


	For the Three-Month		9 months
	Period Ended September 30,		Cumulative
	2026	2025	2026	2025

	(millions of US$)
Profit for the period	110.6	25.0	313.5	67.6
(-) Gain on sale of investment property	0.0	(0.4)	0.0	0.0
(-) Gain on revaluation of investment property	(60.2)	(4.8)	(163.2)	3.4
FFO	50.5	19.8	150.3	71.1
(-) Exchange gain (loss) – net	2.3	(2.4)	(0.9)	(8.7)
(-) Other income(1)	(1.4)	(1.2)	(7.4)	(3.7)
(-) Other expense	1.7	0.6	5.2	2.1
(-) Share of results of associates	0.1	0.0	(0.1)	0.0
(-) Interest income	(2.8)	(0.7)	(7.2)	(2.0)
(+) Total income tax expense	(6.7)	27.4	(12.8)	67.9
(+) Depreciation	0.5	0.5	1.5	1.2
(-) Share -based compensation expense	2.4	2.5	6.9	7.1
(-) Energy income	(2.1)	(2.5)	(7.2)	(6.5)
(+) Energy Expense	2.5	3.3	8.0	7.0
Vesta FFO	47.1	47.4	136.3	135.5

(1)Includes other income and expenses unrelated to Vesta's operations, such as reimbursements from insurance proceeds, and sales of office equipment. For more information, see note 14 to Vesta’s consolidated financial statements.


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Corporación Inmobiliaria Vesta, S. A. B. de C. V. and Subsidiaries Unaudited Condensed Consolidated Interim Financial Statements for the nine and three-month periods ended September 30, 2026 and 2025

Corporación Inmobiliaria Vesta, S. A. B. de C. V. and Subsidiaries Unaudited Condensed Consolidated Interim Financial Statements for nine and three- month periods ended September 30, 2026 and 2025 Table of contents Page Unaudited Condensed Consolidated Interim Statements of Financial Position 1 Unaudited Condensed Consolidated Interim Statements of Profit and Other Comprehensive Income 3 Unaudited Condensed Consolidated Interim Statements of Changes in Stockholders’ Equity 4 Unaudited Condensed Consolidated Interim Statements of Cash Flows 5 Notes to Unaudited Condensed Consolidated Interim Financial Statements 7

2 Corporación Inmobiliaria Vesta, S. A. B. de C. V. and Subsidiaries Unaudited Condensed Consolidated Interim Statements of Financial Position As of September 30, 2026 and December 31, 2025 (In US dollars) Assets Notes September 30, 2026 (Unaudited) December 31, 2025 Current assets: Cash, cash equivalents and restricted cash 5 $ 239,997,031 $ 336,901,283 Recoverable taxes 6 51,724,261 47,539,115 Operating lease receivables 7 9,324,912 8,769,879 Prepaid expenses and other current assets 7.vi 7,650,617 4,141,257 Total current assets 308,696,821 397,351,534 Non-current assets: Investment properties 8 4,481,233,376 4,129,443,925 Office furniture – Net 2,397,824 2,256,393 Right-of-use assets - Net of depreciation 9 1,099,764 1,419,215 Investment in associates 5,849,239 3,533,419 Security deposits made, restricted cash and others 7,553,728 8,455,208 Total non-current assets 4,498,133,931 4,145,108,160 Total assets $ 4,806,830,752 $ 4,542,459,694 Liabilities and stockholders’ equity Current liabilities: Current portion of long-term debt 10 $ - $ 1,782,124 Lease liabilities – short-term 9.3 640,509 641,300 Accrued interest 13,143,415 10,038,053 Accounts payable 3 d 31,217,128 30,798,915 Income taxes payable 496,027 14,154,365 Accrued expenses and taxes 6,390,232 7,280,266 Dividends payable 11.4 37,376,661 17,384,493 Total current liabilities 89,263,972 82,079,516 Non-current liabilities: Long-term debt 10 1,072,137,916 1,273,419,269 Lease liabilities - long-term 9.3 503,008 814,746 Security deposits received 34,107,475 30,028,335 Long-term payable 3 d 11,706,886 23,413,771 Employee benefits 4,110,090 3,662,878 Deferred income taxes 17 334,038,292 381,284,437 Total non-current liabilities 1,456,603,667 1,712,623,436 Total liabilities 1,545,867,639 1,794,702,952

3 Notes September 30, 2026 (Unaudited) December 31, 2025 Stockholders’ equity: Capital stock 11.1 627,569,288 579,978,180 Additional paid-in capital 11.3 1,111,541,034 884,174,713 Retained earnings 1,559,460,753 1,320,760,427 Share-based payments reserve 19 2,323,096 7,257,867 Remeasurements of defined benefit plans (449,864) - Foreign currency translation (39,481,194) (44,414,445) Total stockholders’ equity 3,260,963,113 2,747,756,742 Total liabilities and stockholders’ equity 4,806,830,752 4,542,459,694 See accompanying notes to unaudited condensed consolidated interim financial statements.

4 Corporación Inmobiliaria Vesta, S. A. B. de C. V. and Subsidiaries Unaudited Condensed Consolidated Interim Statements of Profit or Loss and Other Comprehensive Income For the nine and three-month periods ended September 30, 2026 and 2025 (In US dollars) For the nine-month periods ended For the three-month periods ended Notes September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) Revenues: Rental income 12 $ 234,801,484 $ 206,748,294 $ 79,563,434 $ 72,420,925 Management fees - 31,437 - 6,789 234,801,484 206,779,731 79,563,434 72,427,714 Property operating costs related to properties that generated rental income 13.1 (20,748,530) (17,274,621) (7,097,292) (7,226,843) Property operating costs related to properties that did not generate rental income 13.1 (3,861,266) (2,688,623) (1,361,873) (1,008,863) General and administrative expenses 13.2 (28,395,106) (25,691,559) (9,313,167) (8,326,405) Interest income 7,182,833 2,031,051 2,832,758 651,746 Other income 14 7,443,678 3,655,308 1,352,047 1,196,412 Other expenses 15 (5,202,174) (2,053,007) (1,726,244) (623,458) Finance cost 16 (54,610,000) (34,462,020) (18,112,636) (12,289,994) Exchange gain – Net 870,557 8,665,619 (2,267,111) 2,429,486 Share of results of associates 52,556 (5,791) (57,719) (8,711) Loss on sale and disposal of investment properties - net - (9,946) - 400,000 Gain (loss) on revaluation of investment properties 8 163,162,734 (3,431,376) 60,166,371 4,792,273 Profit before income taxes 300,696,766 135,514,766 103,978,568 52,413,357 Income tax benefit (expense) 17 12,756,881 (67,892,899) 6,660,728 (27,446,316) Profit for the period 313,453,647 67,621,867 110,639,296 24,967,041 Other comprehensive gain - Net of tax: Items that may be reclassified subsequently to profit and loss: Remeasurements of defined benefit plans (449,864) - (449,864) - Exchange differences on translating other functional currency operations 4,933,251 3,719,935 2,416,702 2,637,034 Total other comprehensive income 4,483,387 3,719,935 1,966,838 2,637,034 Total comprehensive income for the period $ 317,937,034 $ 71,341,802 $ 112,606,134 $ 27,604,075 Basic earnings per share 11.5 $ 0.3528 $ 0.0796 $ 0.1192 $ 0.0295 Diluted earnings per share 11.5 $ 0.3486 $ 0.0785 $ 0.1178 $ 0.0291 See accompanying notes to unaudited condensed consolidated interim financial statements.

5 Corporación Inmobiliaria Vesta, S. A. B. de C. V. and Subsidiaries Unaudited Condensed Consolidated Interim Statements of Changes in Stockholders’ Equity For the nine-month periods ended September 30, 2026 and 2025 (In US dollars) Capital stock Additional paid-in capital Retained earnings Share-based payments reserve Remeasurements of defined benefit plans Foreign currency translation Total stockholders’ equity Balances as of January 1, 2025 $ 585,487,257 $ 905,722,252 $ 1,148,396,077 $ 3,884,108 $ - $ (46,205,511) $ 2,597,284,183 Dividends declared - - (69,537,973) - - - (69,537,973) Vested shares 2,045,268 6,964,825 - (9,010,093) - - - Share-based payments 65,627 283,509 - 10,002,727 - - 10,351,863 Repurchase of shares (7,619,972) (28,795,873) - - - - (36,415,845) Comprehensive income - - 67,621,867 - - 3,719,935 71,341,802 Balances as of September 30, 2025 (Unaudited) 579,978,180 884,174,713 1,146,479,971 4,876,742 - (42,485,576) 2,573,024,030 Balances as of January 1, 2026 579,978,180 884,174,713 1,320,760,427 7,257,867 - (44,414,445) 2,747,756,742 Equity issuance 45,175,342 217,216,191 - - - - 262,391,533 Dividends declared - - (74,753,321) - - - (74,753,321) Vested shares 2,419,978 10,168,327 - (12,588,305) - - - Share-based payments (4,212) (18,197) - 7,653,534 - - 7,631,125 Comprehensive income - - 313,453,647 - (449,864) 4,933,251 317,937,034 Balances as of September 30, 2026 (Unaudited) $ 627,569,288 $ 1,111,541,034 $ 1,559,460,753 $ 2,323,096 $ (449,864) $ (39,481,194) $ 3,260,963,113 See accompanying notes to unaudited condensed consolidated interim financial statements.

6 Corporación Inmobiliaria Vesta, S. A. B. de C. V. and Subsidiaries Unaudited Condensed Consolidated Interim Statements of Cash Flows For the nine-month periods ended September 30, 2026, and 2025 (In US dollars) September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) Cash flows from operating activities: Profit before income taxes $ 300,696,766 $ 135,514,766 Adjustments: Depreciation 919,594 693,191 Right-of-use assets depreciation 538,115 550,848 (Gain) loss on revaluation of investment properties (163,162,734) 3,431,376 Straight-line rent adjustment (2,807,777) - Unrealized effect of foreign exchange rates 4,062,694 (4,945,684) Interest income (7,182,833) (2,031,051) Interest expense 52,038,636 33,354,325 Amortization of debt issuance costs 2,571,364 1,107,695 Share of results of associates (52,556) 5,711 Expense recognized in respect of share-based payments 7,631,125 10,351,863 Employee benefits and pension costs 832,224 1,062,160 Loss on sale of investment properties - 9,946 Working capital adjustments: (Increase) decrease in: Operating lease receivables – Net (555,033) (4,310,805) Recoverable taxes (4,185,146) (7,310,117) Guarantee deposits paid 166,168 (208,507) Prepaid expenses and other receivables (3,509,360) (6,021,138) Increase (decrease) in: Accounts payable and client advances (22,577,819) 330,524 Accrued expenses and taxes (890,034) (177,477) Guarantee deposits collected 4,079,140 3,113,420 Interest received 7,182,833 2,031,051 Pension fund (861,817) - Income taxes paid (48,147,602) (20,308,588) Net cash generated by operating activities 126,785,948 146,243,509 Cash flows from investing activities: Purchases of investment properties (161,943,702) (226,508,180) Sale of investment property - 5,500,000 Purchases of office furniture and vehicles (1,061,025) (473,938) Investment in associates (2,264,170) (3,442,268) Net cash used in investing activities (165,268,897) (224,924,386)

7 September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) Cash flows from financing activities: Interest paid (48,866,084) (27,584,857) Loans obtained - 650,000,000 Loans paid (205,634,841) (48,636,514) Costs of debt issuance - (4,291,445) Dividends paid (54,761,153) (50,940,609) Equity issuance proceeds 269,024,352 - Equity issuance costs paid (6,632,819) - Repurchase of treasury shares - (36,415,845) Payment of lease liabilities (598,383) (628,206) Net cash (used in) generated by financing activities (47,468,928) 481,502,524 Effects of exchange rates changes on cash (11,687,687) 105,828 Net (decrease) increase in cash, cash equivalents and restricted cash (97,639,564) 402,927,475 Cash, cash equivalents and restricted cash at the beginning of year 337,636,595 184,856,206 Cash, cash equivalents and restricted cash at the end of the period - Note 5 $ 239,997,031 $ 587,783,681 See accompanying notes to unaudited condensed consolidated interim financial statements.

8 Corporación Inmobiliaria Vesta, S. A. B. de C. V. and Subsidiaries Unaudited Notes to Condensed Consolidated Interim Financial Statements As of September 30, 2026 and December 31, 2025 and for the nine-month periods ended September 30, 2026 and 2025 (In US dollars) 1 General information Corporación Inmobiliaria Vesta, S. A. B. de C. V. (“Vesta”) is a corporation incorporated in Mexico. The address of its registered office and principal place of business is Paseo de los Tamarindos 90, 28th floor, Mexico City. Vesta and subsidiaries (collectively, the “Entity”) are engaged in the development, acquisition and operation of industrial buildings and distribution facilities that are rented to corporations in eleven states throughout Mexico. 1.1 Significant event On May 18, 2026, Vesta announced the closing of its global offering of 1,199,285 American Depositary Shares, or ADS, at a price of US$34.62 per ADS in the United States (the “International Offering”) and 58,054,784 common shares at a price of Ps.$59.50 per common share in Mexico (the “Mexican Offering”, and together with the International Offering, the “Global Offering”). Each ADS represents 10 common shares of Vesta. The underlying common shares are registered in the Mexican National Securities Registry (Registro Nacional de Valores; the “RNV”), which is maintained by the Mexican National Banking and Securities Commission (Comision Nacional Bancaria y de Valores; the “CNBV”). Barclays, J.P. Morgan and Morgan Stanley acted as joint global coordinators of the Global Offering. BofA Securities, BTG Pactual and Santander acted as joint book-runners. On June 4, 2026, the international underwriters exercised the Greenshoe Option to purchase an additional 7,749,200 common shares, at a price of US$34.62 per ADS in the United States. The closing of the Global Offering, including proceeds from the Greenshoe Option, generated gross proceeds of approximately $269,024,352. Issuance expenses were approximately $9,475,455. Vesta intends to use the net proceeds from the Offering to fund growth strategy including the acquisition of land or properties and related infrastructure investments, and for the development of industrial buildings. 2 Application of new and revised International Financial Reporting Standards (IFRS) New and amended IFRS Accounting Standards that are effective for the current period There are no accounting pronouncements which have become effective from January 1, 2026, that have a significant impact on the Group’s interim condensed consolidated financial statements. 3 Material accounting policies a. Basis of preparation The unaudited condensed consolidated interim financial statements have been prepared on the historical cost basis except for investment properties and financial instruments that are measured at fair value at the end of each reporting period, as explained in the accounting policies below.

9 i. Historical cost Historical cost is generally based on the fair value of the consideration given in exchange for goods and services. ii. Fair value Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. In estimating the fair value of an asset or a liability, the Entity takes into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date. Fair value for measurement and/or disclosure purposes in these unaudited condensed consolidated interim financial statements is determined on such a basis, except for share-based payment transactions that are within the scope of IFRS 2, Share-based Payments. In addition, for financial reporting purposes, fair value measurements are categorized into Level 1, 2 or 3 based on the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to the fair value measurement in its entirety, which are described as follows: • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date; • Level 2 inputs are inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and • Level 3 inputs are unobservable inputs for the asset or liability. iii. Going concern The unaudited condensed consolidated interim financial statements have been prepared by Management assuming that the Entity will continue to operate as a going concern. b. Interim financial condensed statements The accompanying unaudited condensed consolidated interim financial statements as of September 30, 2026 have been prepared in accordance with International Accounting Standard (“IAS”) 34, Interim Financial Reporting, and have not been audited. In the opinion of Entity management, all adjustments (consisting mainly of ordinary, recurring adjustments) necessary for a fair presentation of the accompanying condensed consolidated interim financial statements are included. The results of the periods are not necessarily indicative of the results for the full year. These unaudited condensed consolidated interim financial statements should be read in conjunction with the audited annual consolidated financial statements of the Entity and their respective notes for the year ended December 31, 2025. The accounting policies and methods of computation are consistent with the audited consolidated financial statements for the year ended December 31, 2025. c. Segment The Entity’s primary business is the acquisition, development, and management of industrial and distribution center real estate. Vesta manages its operations on an aggregated, single segment basis for purposes of assessing performance and making operating decisions and, accordingly, has only one reporting and operating segment. As of September 30, 2026 and December 31, 2025, all of our assets and operations are derived from assets located within Mexico.

10 d. Financial liabilities All financial liabilities are measured subsequently at amortized cost using the effective interest method. Financial liabilities measured subsequently at amortized cost Financial liabilities (including borrowings) that are not (i) contingent consideration of an acquirer in a business combination, (ii) held-for-trading, or (iii) designated as at FVTPL, are measured subsequently at amortized cost using the effective interest method. The effective interest method is a method of calculating the amortized cost of financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and expenses paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter period, to the amortized cost of a financial liability. For financial liabilities that are denominated in a foreign currency and are measured at amortized cost at the end of each reporting period, the foreign exchange gains and losses are determined based on the amortized cost of the instruments. These foreign exchange gains and losses are recognized in the ‘exchange (loss) gain - net’ line item in profit or loss for financial liabilities. Modification of contractual cash flows When the contractual cash flows of a financial instrument are modified and does not result in derecognition, differences between the recalculated gross carrying amount and the carrying amount before modification is recognized in profit or loss as modification gain or loss, at the date of modification. Financial liabilities linked to a sustainability factor For sustainability-linked bonds or credit facilities, where compliance with a sustainability factor results in a decrease in the contractual interest rate, the Entity assesses whether the contractual linkage of the interest amount to such sustainability factor meets the definition of an embedded derivative that needs to be bifurcated from the host contract and accounted for separately. To make this assessment, the Entity analyzes whether the sustainability factor is a financial or non-financial variable, which is determined by the impact of such variable on the Entity’s own credit risk. For instruments where the sustainability factor is a financial variable, the Entity has determined that the definition of an embedded derivative is met. However, the economic characteristics and risks of the embedded derivative are deemed to be closely related to the host contract, and therefore, it is not bifurcated. When there are changes in cash flows resulting from changes in interest rates caused by the sustainability factor, the Entity revises the future cash flows and adjusts the effective interest rate accordingly, having no impact on profit or loss. For instruments where the sustainability factor is a non-financial variable, the Entity has determined that the definition of an embedded derivative is not met. When there are changes in cash flows resulting from changes in interest rates caused by the sustainability factor, the Entity revises the future cash flows and discounts them using the original effective interest rate. The difference between the carrying amount before the change and the remeasured carrying amount is recognized immediately in profit or loss. Derecognition of financial liabilities The Entity derecognizes financial liabilities when, and only when, the Entity’s obligations are discharged, cancelled or have expired. The difference between the carrying amount of the financial liability derecognized and the consideration paid and payable is recognized in profit or loss.

11 When the Entity exchanges with the existing lender a debt instrument in another with substantially different terms, that exchange is accounted for as an extinction of the original financial liability and the recognition of a new financial liability. Similarly, the Entity considers the substantial modification of the terms of an existing liability or part of it as an extinction of the original financial liability and the recognition of a new liability. The terms are assumed to be substantially different if the discounted present value of the cash flows under the new terms, including any fees paid net of any fees received and discounted using the original effective rate, is at least 10% different from the current discounted rate. Value of the remaining cash flows of the original financial liability. If the modification is not material, the difference between: (1) the carrying amount of the liability before the modification; and (2) the present value of the cash flows after the modification should be recognized in profit or loss as the gain or loss from the modification within other gains and losses. The balance as of September 30, 2026, and December 2025 of short-term accounts payables was: September 30, 2026 (Unaudited) December 31, 2025 Construction in-progress (1) $ 625,809 $ 5,062,001 Land (2) 24,924,201 23,937,534 Existing properties 4,083,855 1,149,283 Others accounts payables 1,583,263 650,097 $ 31,217,128 $ 30,798,915 (1) At the end of fiscal year 2025, the Entity began the construction of three investment properties. The amount represents the advances according to the construction contract, which will be paid during the first quarter of the following year. As of September 30, 2026, the Entity began the construction of four investment properties. (2) During the fourth quarter of 2025, the Entity acquired a land reserve for a total of $97,020,817, of which the Entity paid $46,827,543 up front. The outstanding balance of $47,351,305 is to be paid in semiannual installments starting in April 2026 with a final payment due in October 2027. The first semiannual installment, due in April 2026, was paid as scheduled. As of September 30, 2026, the current portion of the related obligation amounted to $24,924,201 while the long-term portion totaled $11,706,886. The outstanding balance bears interest at an annual rate of 5.75%. 4. Critical accounting judgments and key sources of estimation uncertainty In preparing these interim financial statements, management has made judgements and estimates that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates. The significant judgements made by management in applying the Entity’s accounting policies and the key sources of estimation uncertainty were the same as those described in the last annual consolidated financial statements.

12 5. Cash, cash equivalents and restricted cash For purposes of the condensed consolidated interim statement of cash flows, cash and cash equivalents include cash on hand and in banks, including restricted cash. Cash and cash equivalents at the end of the reporting period as shown in the condensed consolidated interim statement of cash flows can be reconciled to the related items in the condensed consolidated interim statements of financial position as follows: September 30, 2026 (Unaudited) December 31, 2025 Cash and cash equivalents $ 239,976,595 $ 336,881,470 Restricted cash 20,436 19,813 239,997,031 336,901,283 Non-current restricted cash - 735,312 Total $ 239,997,031 $ 337,636,595 As of December 31, 2025, restricted cash represents balances held by the Entity that are only available for use under certain conditions pursuant to the loan agreements entered into by the Entity. Such conditions include payment of monthly debt service fee and compliance with certain covenants set forth in the loan agreement. These restrictions are classified according to their restriction period: less than 12 months and over one year, considering the period of time in which such restrictions are fulfilled. Non-current restricted cash was classified within guaranteed deposits made, restricted cash and others in the accompanying condensed consolidated interim statements of financial position. As of September 30, 2026, the debt that gave rise to these restricted cash requirements was prepaid and settled in advance, and the related restrictions were released. Non‑cash transactions Changes in liabilities arising from financing activities not requiring cash relate to a decrease for the amortization of debt issuance costs for $2,571,364 and $4,728,688 in the nine-month periods ended September 30, 2026, and 2025, respectively. Unpaid dividends are included in Note 11.4. Other non-cash investing activities related to investment properties are included in Note 8. 6. Recoverable taxes September 30, 2026 (Unaudited) December 31, 2025 Recoverable value-added tax (“VAT”) $ 47,248,737 $ 41,444,744 Recoverable income taxes 4,418,610 6,000,168 Other recoverable taxes 56,914 94,203 $ 51,724,261 $ 47,539,115 7. Operating lease receivables, prepaid expenses and other current assets i. The aging profile of operating lease receivables as of the dates indicated below are as follows: September 30, 2026 (Unaudited) December 31, 2025 0-30 days $ 8,590,270 $ 8,091,816 30-60 days 244,242 19,157 60-90 days 167,623 46,649 Over 90 days 322,777 612,257 Total $ 9,324,912 $ 8,769,879

13 Pursuant to the lease agreements, rental payments should be received within 30 days following their due date; thereafter the payment is considered past due. As shown in the table above, 92% and 92% of all operating lease receivables are current as of September 30, 2026, and December 31, 2025, respectively. All rental payments past due are monitored by the Entity; for receivables outstanding from 30 to 90 days, efforts are made to collect payment from the respective client. Operating lease receivables outstanding for more than 30 days but less than 60 days represent 2.6% and 0.2% of all operating lease receivables as of September 30, 2026, and December 31, 2025, respectively. Operating lease receivables outstanding for more than 60 and less than 90 days represent 1.8% and 1% of all operating lease receivable as of September 30, 2026, and December 31, 2025, respectively. Operating lease receivables outstanding greater than 90 days represent 3.6% and 7% of all operating lease receivable as of September 30, 2026, and December 31, 2025, respectively. ii. Movement in the allowance for doubtful accounts receivable Lifetime ECL represents the expected credit losses that will result from all possible default events over the expected life of the operating lease receivable. The following table shows the movement in expected credit losses that has been recognized for the lease receivable: Amounts Balance as of January 1, 2025 $ 2,042,188 Increase in loss allowance recognized in the period 1,036,029 Decrease in loss allowance from derecognition of financial assets in the period (2,032,746) Balance as of September 30, 2025 (Unaudited) $ 1,045,471 Amounts Balance as of January 1, 2026 $ 1,030,385 Increase in loss allowance recognized in the period 379,637 Decrease in loss allowance from derecognition of financial assets in the period (151,138) Balance as of September 30, 2026 (Unaudited) $ 1,258,884 iii. Client concentration risk As of September 30, 2026, and December 31, 2025, one of the Entity’s client accounts represents 39% or $3,662,696 (Unaudited) and 51% or $4,515,994 respectively, of the operating lease receivables balance. The same client accounted for 4% (Unaudited) and 4% (Unaudited) of the total rental income of Entity for the nine-month periods ended September 30, 2026, and 2025, respectively. No other client accounted for more than 10% of the total rental income of the Entity for the nine-month periods ended September 30, 2026, and 2025. iv. Leasing agreements Operating leases relate to non-cancellable lease agreements over the investment properties owned by the Entity, which generally have terms ranging between 5 to 15 years, with options to extend the term up to a total term of 20 years. Rents are customarily payable on a monthly basis and are adjusted annually according to applicable inflation indices (US and Mexican inflation indices). Security deposits are typically equal to one or two months’ rent. Obtaining property insurance (third party liability) and operating maintenance are obligations of the tenants.

14 All lease agreements include a rescission clause that entitles the Entity to collect all unpaid rents during the remaining term of the lease agreement in the event that the client defaults in its rental payments, vacates the properties, terminates the lease agreement or enters into bankruptcy or insolvency proceedings. All lease agreements are classified as operating leases and do not include purchase options. v. Non-cancellable operating lease receivables Future minimum lease payments receivable under non-cancellable operating lease agreements are as follows: September 30, 2026 (Unaudited) December 31, 2025 Not later than 1 year $ 283,391,820 $ 262,387,963 Later than 1 year and not later than 2 years 257,242,157 232,726,281 Later than 2 years and not later than 3 years 224,749,025 205,507,984 Later than 3 years and not later than 4 years 187,320,369 174,301,343 Later than 4 years and not later than 5 years 141,456,962 142,297,376 Later than 5 years 329,574,023 332,774,369 $ 1,423,734,356 $ 1,349,995,316 vi. Prepaid expenses, advance payments and other receivables September 30, 2026 (Unaudited) December 31, 2025 Property expenses $ 5,448,496 $ 1,486,890 Prepaid expenses 2,150,262 1,010,115 Other accounts receivables (1) 51,859 1,644,252 $ 7,650,617 $ 4,141,257 (1) This amount relates to non-tenant improvements carried out by Vesta in Toluca, Lagos and Querétaro Industrial Park and other tenants that remain pending to be collected as of September 30, 2026, and December 31,2025, respectively. 8. Investment properties The Entity uses external appraisers to determine the fair value of its investment properties. The external appraisers hold recognized and relevant professional qualifications and have vast experience in the types of investment properties owned by the Entity. The external appraisers use valuation techniques such as the discounted cash flows approach, replacement cost approach and income cap rate approach. The techniques used to estimate the fair value of the Entity’s investment properties include assumptions, many of which are not directly observable in the market. These assumptions include discount rates, exit cap rates, long-term NOI, inflation rates, absorption periods, and market rents. The values, determined by the external appraisers at each reporting date, are recognized as the fair value of the Entity’s investment properties at such date. The appraisers use a discounted cash flow approach to determine the fair value of land and buildings (using the expected net operating income (“NOI”) of the investment property) and a market approach to determine the fair value of land reserves. Gains or losses arising from changes in the fair values are included in the consolidated statements of profit or loss and other comprehensive (loss) income in the period in which they arise.

15 The Entity’s investment properties are located in Mexico, and they are classified as Level 3 in the IFRS fair value hierarchy. The following table provides information about how the fair values of the investment properties are determined (in particular, the valuation technique and inputs used). Property Fair value hierarchy Valuation techniques Significant unobservable inputs Value/range (Unaudited) Relationship of unobservable inputs to fair value Buildings and land Level 3 Discounte d cash flows Discount rate Q3 2026: 8.25% to 12.28% 2025: 8.00% to 12.14% The higher the discount rate, the lower the fair value. Exit cap rate Q3 2026: 6.75% to 9.75% 2025: 6.50% to 9.25% The higher the exit cap rate, the lower the fair value Long-term NOI Based on contractual rent and then on market related rents The higher the NOI, the higher the fair value. Inflation rates Mexico: Q3 2026: 3.70% to 4.0% 2025: 3.64% to 4.00% U.S.: Q3 2026: 2.20% to 3.0% 2025: 2.20% to 3.00% The higher the inflation rate, the higher the fair value. Absorption period 12 months on average The shorter the absorption period, the higher the fair value. Market Related rents Depending on the park/state The higher the market rent, the higher the fair value Land reserves Level 3 Market value Price per acre Weighted average price per acre is $241,270 in Q3 2026, $256,565 in 2025 The higher the price, the higher the fair value. The table below sets forth the aggregate values of the Entity’s investment properties for the years indicated: September 30, 2026 (Unaudited) December 31, 2025 Buildings and land $ 4,341,010,000 $ 3,854,280,000 Land improvements 769,567 769,567 Land reserves 265,298,507 315,650,000 4,607,078,074 4,170,699,567 Less: Cost to conclude construction in-progress (125,844,698) (41,255,642) Balance at end of period $ 4,481,233,376 $ 4,129,443,925

16 The reconciliation of investment property is as follows: September 30, 2026 (Unaudited) December 31, 2025 Balance at beginning of year $ 4,129,443,925 $ 3,696,768,269 Additions 173,233,751 377,740,002 Foreign currency translation effect 12,585,189 8,370,535 Disposal of investment properties - (5,100,000) Write-offs from casualties - (409,945) Gain on revaluation of investment properties 163,162,734 52,075,064 Straight-line rent adjustment 2,807,777 - Balance at end of period $ 4,481,233,376 $ 4,129,443,925 A total of $41,340,751 and $4,933,642 additions to investment properties related to land reserves, existing properties and new buildings acquired from third parties that were not paid as of September 30, 2026, and 2025, respectively, and were therefore excluded from the condensed consolidated statements of cash flows for those periods. On August 5, 2025, the Entity sold investment property located in Chihuahua totaling 135,310 square feet for $5,500,000, the cost associated with the sale was $5,100,000, generating a gain in sale of investment property of $400,000. On April 7, 2025, the Entity recognized a loss related to the investment properties in Baja California, the cost associated with the sinister was $409,945. 9. The Entity as lessee 1. Right-of-use: Right-of-use January 1, 2026 Additions Disposals September 30, 2026 (Unaudited) Office space $ 3,828,962 $ 133,197 $ - $ 3,962,159 Vehicles and office equipment 1,520,314 85,467 - 1,605,781 Cost of right-of-use $ 5,349,276 $ 218,664 - $ 5,567,940 Depreciation of right-of-use Office space $ (2,836,188) (354,430) - (3,190,618) Vehicles and office equipment (1,093,873) (183,685) - (1,277,558) Accumulated depreciation (3,930,061) (538,115) - (4,468,176) Total $ 1,419,215 $ (319,451) $ - $ 1,099,764 Rights of use January 1, 2025 Additions Disposals September 30, 2025 (Unaudited) Office space $ 2,552,121 $ 1,276,841 $ - $ 3,828,962 Vehicles and office equipment 1,154,358 237,206 - 1,391,564 Cost of rights-of-use $ 3,706,479 $ 1,514,047 $ - $ 5,220,526

17 Depreciation of rights-of-use January 1,2025 Additions Disposals September 30, 2025 (Unaudited) Office space $ (2,395,065) $ (323,520) $ - $ (2,718,585) Vehicles and office equipment (777,622) (227,328) - (1,004,950) Accumulated depreciation (3,172,687) (550,848) - (3,723,535) Total $ 533,792 $ 963,199 $ - $ 1,496,991 2. Lease obligations: January 1, 2026, Additions Disposals Interests accrued Repayments September 30, 2026 (Unaudited) Lease liabilities $ 1,456,046 218,664 - 67,190 (598,383) $ 1,143,517 January 1, 2025 Additions Disposals Interests accrued Repayments September 30, 2025 (Unaudited) Lease liabilities $ 558,116 1,514,047 - 63,043 (628,206) $ 1,507,000 3. Analysis of maturity of lease liabilities: Lease liabilities September 30, 2026 (Unaudited) December 31,2025 Not later than 1 year $ 695,953 $ 717,288 Later than 1 year and not later than 5 years 532,723 864,080 1,228,676 1,581,368 Less: future finance cost (85,159) (125,322) Total lease liability $ 1,143,517 $ 1,456,046 Lease liability – short-term $ 640,509 $ 641,300 Lease liability – long-term 503,008 814,746 Total lease liability $ 1,143,517 $ 1,456,046 10. Long-term debt On September 24, 2025, the Entity issued Senior Notes for a principal amount of $500,000,000 and maturity on January 30, 2033. The Notes were issued pursuant to an indenture entered into among the Entity, and The Bank of New York Mellon, which acted as trustee, register, paying agent, and transfer agent. The Notes were guaranteed on a senior unsecured basis. The notes bear semiannual interest at a rate of 5.500%. As of December 31, 2025, the cost of such debt issuance was $5,350,706.

18 On December 18, 2024, Vesta closed the previously announced $545,000,000 Global Syndicated Sustainable Credit Facility (the "Facility") comprised of a $345,000,000 term loan available through two tranches, for three and five years, with an 18-month availability period and a $200,000,000 Revolving Credit Facility, substituting the Entity prior $200,000,000 in-place un-drawn Revolving Credit Facility. The International Finance Corporation (IFC), BBVA, Citigroup, and Santander acted as Joint Lead Arrangers of the transaction. Tranche I - Three-year $172,500,000 Term Loan, at the equivalent coupon of SOFR plus a 130 basis points applicable margin. Tranche II - Five-year $172,500,000 Term Loan at the equivalent coupon of SOFR plus a 150 basis points applicable margin. Revolving Credit Facility - Four-year $200,000,000 facility at the equivalent coupon of SOFR plus a 150 basis points applicable margin. The three tranches of the Credit Facility are subject to a sustainability pricing adjustment to the applicable margins, equivalent to a reduction of five basis points, which is subject to the Entity compliance of its annual KPI target related to the total certified gross leasable area of the Entity sustainability certified buildings. The Entity paid debt issuance costs in an amount of $5,563,162. On September 1, 2022, the Entity obtained a three-year unsecured sustainability-linked revolving credit facility for $200,000,000. This loan bears interest at a rate of SOFR plus 160 basis points. As a part of such revolving credit, Vesta paid debt issuance costs in an amount of $1,339,606. As of December 31, 2024, this revolving credit facility was replaced by Global Syndicated Sustainable Credit Facility mentioned in the preceding paragraph. On May 13, 2021, the Entity offered $350,000,000 of Senior Notes (“Vesta ESG Global bond 35/8 05/31”) with maturity on May 13, 2031. The notes bear interest at a rate of 3.625%. The cost of such debt issuance was $7,746,222. On June 25, 2019, the Entity entered into a 10-year Senior Note series RC and 12-year Senior Note series RD with various financial institutions, for aggregate amounts of $70,000,000 and $15,000,000, respectively. Each Series RC notes and Series RD notes bear interest on the unpaid balance at the rates of 5.18% and 5.28%, respectively. On May 31, 2018, the Entity entered into an agreement for the issuance and sale of Series A Senior Note of $45,000,000 due on May 31, 2025, and Series B Senior Note of $45,000,000 due on May 31, 2028. Each Series A Note and Series B Note bear interest on the unpaid balance at the rates of 5.50% and 5.85%, respectively. In March 2025, the Entity paid the principal of Serie A Senior Notes. Subsequently,on September 9, 2026, the Entity prepaid in full the principal of the Series B Senior Notes of $45,000,000 ahead of maturity, together with accrued interest and the applicable make-whole amount, and the agreement was terminated. On November 1, 2017, the Entity entered into a loan agreement with Metropolitan Life Insurance Company for $118,000,000 due on December 1, 2027. This loan bears interest at a rate of 4.75%. On February 17, 2026, the Entity prepaid in full the MetLife debt ahead of its contractual maturity, together with accrued interest and any applicable fees, and the agreement was terminated. On September 22, 2017, the Entity entered into an agreement for an issuance and sale Series A Senior Note of $65,000,000 due on September 22, 2024, and Series B Senior Note of $60,000,000 due on September 22, 2027. Each Series A Note and Series B Note bears interest on the unpaid balance of such Series A Note and Series B Note at the rates of 5.03% and 5.31%, respectively, payable semiannually on September 22 and March 22 of each year. In August 2024, the Entity paid the principal of Serie A Senior Notes according to the agreement. On September 9, 2026, the Entity prepaid in full the principal of the Series B Senior Notes of $60,000,000 ahead of maturity, together with accrued interest and the applicable make-whole amount, and the agreement was terminated. On July 27, 2016, the Entity entered into a 10-year loan agreement with Metropolitan Life Insurance Company (“MetLife”) for a total amount of $150,000,000 due in August 2026. In March 2021, under this credit facility, an additional loan was contracted for $26,600,000. On October 9, 2025, the Entity repaid both loans in full ahead of their scheduled maturity.

19 The long-term debt is comprised by the following notes: Loan Amount Annual interest rate Monthly amortization Maturity September 30, 2026 (Unaudited) December 31, 2025 Series B Senior Note 60,000,000 5.31% (2) September 2027 $ - $ 60,000,000 Series B Senior Note 45,000,000 5.85% (2) May 2028 - 45,000,000 MetLife 10-year 118,000,000 4.75% (1) December 2027 - 100,634,841 Series RC Senior Note 70,000,000 5.18% (3) June 2029 70,000,000 70,000,000 Series RD Senior Note 15,000,000 5.28% (4) June 2031 15,000,000 15,000,000 Vesta ESG Global bond 35/8 05/31 350,000,000 3.63% (5) May 2031 350,000,000 350,000,000 Facility – Tranche I 75,000,000 SOFR + 130 bp (6) December 2027 75,000,000 75,000,000 Facility – Tranche II 75,000,000 SOFR + 150 bp (6) December 2029 75,000,000 75,000,000 Senior Notes 2033 500,000,000 5.50% (7) January 2033 500,000,000 500,000,000 1,085,000,000 1,290,634,841 Less: Current portion - (1,782,124) Less: Direct issuance cost (12,862,084) (15,433,448) Total Long-term debt $ 1,072,137,916 $ 1,273,419,269 (1) n November 1, 2017, the Entity entered into a 10-year loan agreement with MetLife, interest on this loan is paid on a monthly basis. The loan bears monthly interest only for 60 months and thereafter monthly amortizations of principal and interest until it matures on December 1, 2027. This loan is secured by 20 of the Entity’s investment properties under a Guarantee Trust. On November 28, 2023, the Entity prepaid $12,194,600 associated with the sale of one investment property under the Guarantee trust. The remaining balance was fully repaid ahead of maturity by March 31, 2026. (2) Series A Senior Notes and Series B Senior Notes are not secured by investment properties of the Entity. The interest on these notes is paid on a monthly basis. The first tranche of Series A Senior Notes, in the amount of $65,000,000, was settled in August 2024. The second tranche, amounting to $45,000,000 and originally maturing in May 2025, was settled early in March 2025. Series B Senior Notes, which were scheduled to mature in 2027, were fully prepaid on September 9, 2026.. (3) On June 25, 2019, the Entity entered into a 10-year senior notes series RC to various financial institutions, interest on these loans is paid on a semiannual basis beginning on December 14, 2019. The note payable matures on June 14, 2029. Five of its subsidiaries are jointly and severally liable to repay these notes. (4) On June 25, 2019, the Entity entered into a 12-year note payable to various financial institutions, interest on these loans is paid on a semiannual basis beginning December 14, 2019. The note payable matures on June 14, 2031. Five of its Entity’s subsidiaries are jointly and severally liable to repay these notes. (5) On May 13, 2021, the Entity offered $350,000,000 Senior Notes, Vesta ESG Global bond 35/8 05/31 with maturity on May 13, 2031. Interest is paid on a semiannual basis at an annual interest rate of 3.625%. The cost incurred for this issuance was $7,746,222. (6) On April 8, 2025, the Entity executed a drawdown of $100,000,000 from the Facility loan, apportioned into two tranches of $50,000,000 each, with maturities of three and five years, respectively. On July 30 and 31, 2025, the Entity executed a drawdown of $50,000,000 from the Facility loan, apportioned into two tranches of $25,000,000 each, with maturities of three and five years, respectively. (7) On September 24, 2025, the Entity offered $500,000,000 Senior Notes with maturity on Jan 30, 2033. Interest is paid on a semiannual basis. The transaction costs related with this issuance amount to $5,350,706.

20 These credit agreements require the Entity to maintain certain financial and to comply with certain affirmative and negative covenants. The Entity is in compliance with such covenants as of September 30, 2026. 11. Capital stock 1. Capital stock as of September 30, 2026, and December 31, 2025, is as follows: September 30, 2026 (Unaudited) December 31, 2025 Number of shares Amount Number of shares Amount Fixed capital Series A 5,000 $ 3,696 5,000 $ 3,696 Variable capital Series B 928,196,237 627,565,592 846,012,932 579,974,484 Total 928,201,237 $ 627,569,288 846,017,932 $ 579,978,180 2. Treasury shares As of September 30, 2026, and December 31, 2025, total shares holding in treasury are as follows: September 30, 2026 (Unaudited) December 31, 2025 Treasury shares (1) 27,489,137 29,870,992 Shares in long term incentive plan trust (2) 6,592,896 8,605,614 Total share in treasury 34,082,033 38,476,606 (1) Treasury shares are not included in the Total Capital Stock of the Entity, they represent the total stock outstanding under the repurchase program approved by the resolution of the general ordinary stockholders meeting on May 22, 2026. (2) Shares in long-term incentive plan trust are not included in the Total Capital Stock of the Entity. The trust was established in 2018 in accordance with the resolution of the general ordinary stockholders meeting on January 6, 2015, as the 20-20 Long Term Incentive Plan, this compensation plan was extended for the period 2021 to 2025, “Long Term Incentive Plan” by a resolution of the general ordinary stockholders meeting on March 13, 2020. . By resolution adopted by the general ordinary shareholders meeting of March 21, 2024, the Long Term Incentive Plan for the executives of the Company for the period 2024-2028 was approved, as well as to compensate the board members through a payment in cash and delivery of shares of the Entity. Such trust was created by the Entity as a vehicle to distribute shares to employees under the mentioned incentive plan (see Note 19) and is consolidated by the Entity. The shares granted to the eligible executives and deposited in the trust accrue dividends for the employee any time the ordinary shareholders receive dividends and those dividends do not need to be returned to the Entity if the executive forfeits the granted shares.

21 3. Fully paid ordinary shares Number of shares Capital stock Additional paid-in capital Balance as of January 1, 2025 857,134,276 $ 585,487,257 $ 905,722,252 Vested shares 4,227,426 2,045,268 6,964,825 Share-based payments 126,226 65,627 283,509 Repurchase of shares (15,469,996) (7,619,972) (28,795,873) Balance as of December 31, 2025 846,017,932 579,978,180 884,174,713 Equity inssuance 77,796,834 $ 45,175,342 $ 217,216,191 Vested shares 4,394,573 2,419,978 10,168,327 Share-based payments (8,102) (4,212) (18,197) Balance as of September 30, 2026 (Unaudited) 928,201,237 $ 627,569,288 $ 1,111,541,034 4. Dividend payments Pursuant to a resolution of the General Ordinary Stockholders Meeting on April 22, 2026, the Entity declared dividends totaling $74,753,321, to be paid in four equal installments of $18,688,330 each. The first and second installments ware paid on May 6 and July 15, 2026. As of September 30, 2026, the remaining unpaid dividend, amounting to $37,376,661, will be paid in two installments on October 15, 2026 and January 19, 2027. Pursuant to a resolution of the General Ordinary Stockholders Meeting on March 19, 2025, the Entity declared dividends totaling $69,537,973, approximately $0.081 per share, to be paid in four equal installments of $17,384,493 each. The four installments were paid on April 15, 2025, July 15, 2025, October 15, 2025 and January 19, 2026. 5. Earnings per share For the nine-month periods ended September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) Basic earnings per share: Earnings attributable to ordinary share to outstanding $ 313,453,647 $ 67,621,867 Weighted average number of ordinary shares outstanding 888,583,060 849,627,605 Basic earnings per share $ 0.3528 $ 0.0796 Diluted earnings per share: Earnings attributable to ordinary shares outstanding and shares in Incentive Plan Trust $ 313,453,647 $ 67,621,867 Weighted average number of ordinary shares plus shares in Incentive Plan trust 899,158,979 861,431,526 Diluted earnings per share $ 0.3486 $ 0.0785

22 12. Rental income For the nine-month periods ended For the three-month periods ended September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) Rents $ 214,658,737 $ 188,870,307 $ 74,015,008 $ 66,043,923 Reimbursable building services 12,903,029 11,356,730 3,492,976 3,898,828 Energy income 7,239,718 6,521,257 2,055,450 2,478,174 Total rental income $ 234,801,484 $ 206,748,294 $ 79,563,434 $ 72,420,925 As of September 30, 2026, rental income includes rental revenues, reimbursable charges, energy income, and straight-line rent adjustments recognized over the term of the lease agreements. 13. Property operating costs and administration expenses 1. Property operating costs consist of the following: a. Direct property operating costs from investment properties that generate rental income during the period: For the nine-month periods ended For the three-month periods ended September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) Real estate tax $ 4,275,752 $ 2,760,699 $ 1,625,998 $ 990,932 Insurance 1,376,113 1,177,830 462,016 422,423 Maintenance 1,759,957 1,540,594 611,549 651,847 Other property related expenses 5,343,023 4,775,625 1,865,022 1,825,019 Energy costs 7,993,685 7,019,873 2,532,707 3,336,622 $ 20,748,530 $ 17,274,621 $ 7,097,292 $ 7,226,843 b. Direct property operating costs from investment property that do not generate rental income during the period: For the nine-month periods ended For the three-month periods ended September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) Real estate tax $ 1,180,124 $ 424,409 $ 386,806 $ 150,209 Insurance 101,753 67,820 27,755 23,038 Maintenance 391,302 412,386 152,932 152,934 Other property related expenses 2,188,087 1,784,008 794,380 682,682 3,861,266 2,688,623 1,361,873 1,008,863 Total property operating costs $ 24,609,796 $ 19,963,244 $ 8,459,165 $ 8,235,706

23 2. General and administrative expenses consist of the following: For the nine-month periods ended For the three-month periods ended September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) Employee annual salary plus short-terms benefits $ 13,737,106 $ 11,583,306 $ 4,421,164 $ 3,873,473 Other administrative expenses 3,423,505 3,182,751 1,148,989 826,277 Auditing, legal and consulting expenses 1,679,771 1,524,915 421,206 353,855 Property appraisal and other fees 455,961 445,514 152,356 150,843 Marketing expenses 608,395 564,497 193,978 180,221 Other 144,017 40,950 54,555 (29,870) 20,048,755 17,341,933 6,392,248 5,354,799 Depreciation 1,457,709 1,244,039 517,127 494,869 Share-based compensation expense - Note 19.4 6,888,642 7,105,587 2,403,792 2,476,737 Total general and administrative expenses $ 28,395,106 $ 25,691,559 $ 9,313,167 $ 8,326,405 14. Other income For the nine-month periods ended For the three-month periods ended September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) Non-tenant electricity income $ 3,349,015 $ 2,446,521 $ 1,169,774 $ 974,254 Insurance 721,923 969,032 6,666 - Inflationary effect on tax recovery 2,299,808 53,313 175,338 53,123 Others 1,072,932 186,442 269 169,035 Total $ 7,443,678 $ 3,655,308 $ 1,352,047 $ 1,196,412 15. Other expenses For the nine-month periods ended For the three-month periods ended September 30, 2026 (Unaudited September 30, 2025 (Unaudited September 30, 2026 (Unaudited September 30, 2025 (Unaudited Non-tenant electricity expense $ 3,827,333 $ 1,828,215 $ 1,196,606 $ 525,908 Commissions paid 237,159 115,483 30,958 28,734 Others 1,137,682 109,309 498,680 68,816 Total $ 5,202,174 $ 2,053,007 $ 1,726,244 $ 623,458

24 16. Finance cost For the nine-month periods ended September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) Interest on loans and others $ 52,038,636 $ 32,519,853 Loan prepayment fees 2,571,364 1,942,167 Total 54,610,000 34,462,020 17. Income taxes The Entity is subject to Current Income Tax (“ISR”). The rate of ISR was 30%. Income tax expense is recognized at an amount determined by multiplying the profit before tax for the interim reporting period by management’s best estimate of the weighted-average annual income tax rate expected for the full financial year, adjusted for the tax effect of certain items recognized in full in the interim period. As such, the effective tax rate in the interim financial statements may differ from management’s estimate of the effective tax rate for the annual financial statements. The Entity’s consolidated effective tax rate for the nine-month periods ended September 30, 2026, y 2025 (Unaudited) was (4%) and 48.7%, respectively. The effective ISR rates for fiscal period ended September 30, 2026, and December 2025 differ from the statutory rate as follows: September 30, 2026 (Unaudited) 31 diciembre 2025 Statutory rate 30% 30% Effects of exchange rates on tax balances (39)% (38%) Effects of inflation 5% 5% Effective rate (4)% (3%) 18. Transactions and balances with related parties Compensation of key management personnel and board members The remuneration of Entity’s management and key executives is determined by the remuneration committee taking in to account the individual performance of the officer and market trends. The performance bonus elected for share-based compensation includes a 20% premium (Equity plus).

25 The following table details the general and administrative expense of the annual salary plus short-term benefits as well as the Long-term incentive plan and Equity plus that are reflected in the general and administrative expense of the Entity: For the nine-month periods ended For the three-month periods ended September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) Employee annual salary plus employee benefits $ 5,771,495 $ 5,206,845 $ 1,795,918 $ 1,760,899 Share-based compensation expense 6,442,356 6,691,671 2,254,900 2,336,235 $ 12,213,851 $ 11,898,516 $ 4,050,818 $ 4,097,134 Number of key executives 22 28 22 28 The following table details the general and administrative expense of the board members compensation in shares, that are reflected in the general and administrative expense of the Entity: For the nine-month periods ended For the three-month periods ended September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) Share-based compensation expense board members 446,286 413,916 148,892 140,502 $ 446,286 $ 413,916 $ 148,892 $ 140,502 Number of board members 16 16 16 16 Transactions and balances with associates Transactions with associates carried out in the ordinary course of business as of September 30, 2026, were as follows: expense of $1,078,957 and income of $1,257,030. Furthermore, there were no accounts receivable from or accounts payable to related parties as of that date. 19. Share-based payments 19.1 Share units granted during the period Vesta Long Term Incentive Plan – a total of 1,752,389 and 3,978,481 shares were granted during the nine-months periods ended September 30, 2026, and 2025, respectively (unaudited). 19.2 Share units vested during the period A total of 4,394,573 and 4,353,652 shares vested during the nine-month periods ended September 30, 2026, and 2025, respectively under the Vesta Long Term Incentive Plan, the short-term incentive plan and the shares to its board members (unaudited).

26 19.3 Share awards outstanding at the end of the period As of September 30, 2026, and December 31, 2025, there are 6,592,896 (unaudited) and 8,597,512 shares outstanding with a weighted average remaining contractual life of 24 months. 19.4 Compensation expense recognized The long-term incentive expense for the key executives for the nine months ended September 30, 2026, and 2025 was as follows: For the nine-month periods ended For the three-month periods ended September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) Vesta 20-20 Incentive Plan $ 6,442,356 $ 6,691,671 $ 2,254,900 $ 2,336,235 Compensation expense related to these plans will continue to be accrued through the end of the service period. The Share-based compensation expense for the board members for the nine months ended September 30, 2026, and 2025 was as follows: For the nine-month periods ended For the three-month periods ended September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) September 30, 2026 (Unaudited) September 30, 2025 (Unaudited) Share-based compensation expense $ 446,286 $ 413,916 $ 148,892 $ 140,502 20. Interest rate risk management The Entity minimizes its exposure to interest rate risk by borrowing funds at fixed rates. This minimizes interest rate risk together with the fact that properties owned by the Entity generate a fixed income in the form of rental income which is indexed to inflation. 21. Litigation and commitments Litigation In the ordinary course of business, the Entity is party to various legal proceedings. The Entity is not involved in any litigation or arbitration proceeding for which the Entity believes it is not adequately insured or indemnified, or which, if determined adversely, would have a material adverse effect on the Entity or its financial position, results of operations or cash flows. Commitments All rights to construction, improvements and infrastructure built by the Entity in the Queretaro Aerospace Park and in the DSP Park automatically revert back to the government of the State of Queretaro and to Nissan at the end of the concessions, which is approximately in 40 and 33 years, respectively.

27 22. Events after the reporting period On October 1, 2026, the Entity acquired a land reserve of approximately 115,695.51 square meters. The land is located in the State of Mexico. The Entity paid $30,000,000 for the acquisition. The third installment of the 2026 declared dividends was paid on October 15, 2026, by approximately $0.01999 per share, for a total dividend of $18,688,330. 23. Condensed consolidated interim financial statements issuance authorization The accompanying condensed consolidated interim financial statements were approved by the Board of Directors on October 22, 2026. * * * * * *

Source: View Original Filing on SEC EDGAR

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