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Cautionary Note Regarding Forward-Looking Statements Certain statements in the below referenced discussion may constitute “forward-looking” statements as defined in Section 27A of the Securities Act of 1933 (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), and/or the Private Securities Litigation Reform Act of 1995 (the “PSLRA”), as may be amended from time to time. Statements contained in such discussion that are not historical facts, including statements regarding future dividend rates and dates, are forward-looking statements within the meaning of the PSLRA that involve a number of risks and uncertainties. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “will,” “should” and their variations identify forwardlooking statements. Statements that refer to or are based on projections, uncertain events or assumptions also identify forward-looking statements. Many factors could affect the Company’s actual results, and variances from the Company’s current expectations regarding such factors could cause actual results to differ materially from those expressed in these forward-looking statements, including, among others, our ability to consummate any of future acquisitions; risks of regulatory approvals, if any required; competitive responses to future acquisitions; uncertainty of our expected financial performance following completion of any of future acquisitions; unexpected costs, charges or expenses resulting from any of future acquisitions; litigation relating to any of future acquisitions; any changes in general economic and/or industry specific conditions. The Company undertakes no obligation to publicly update any forwardlooking statements, whether as a result of new information, future events or otherwise. These cautionary statements are being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefits of the “safe harbor” provisions of such laws. The Company cautions investors that any forward-looking statements are not guarantees or indicative of future performance. A detailed discussion of these and other factors that could affect the Company’s results is included in the Company’s SEC filings. GTJ Financing Summary Flow of Funds from Financing Initiative Loan Proceeds Loan Reserve & Escrow Requirements Returns of Deposits and Reserves Closing Costs Net Proceeds Before Payoffs Mortgage Payoffs Excess Proceeds $ $ $ $ $ $ $ 233,100,000 (2,203,000) 3,297,000 (6,214,000) 227,980,000 (199,867,000) 28,113,000 Debt Service on Loans Paid Off Debt Service on Line of Credit Paid Off Total Debt Service on Loans and Line of Credit Paid Off Current Debt Service Interest Only ($233.1 mm proceeds at 4.05%) Approximate Cash Flow Savings $ $ $ $ $ 8,570,000 1,500,000 10,070,000 9,441,000 629,000 GTJ Additional Potential Acquisitions Potential Acquisition Price (Average 2014 Cap Rate 6.70%) Potential Closing Costs (3%) Total Potential Required Funds Potential Mortgage Proceeds (60% LTV) Potential Required Equity (from Additional Refinance Proceeds) Potential Net Operating Income Potential Debt Service (on new debt of $35,563,000 @ 4.0%) Potential Net Cash Flow (10.1% Return on Equity) $ $ $ $ $ $ $ $ 58,000,000 1,740,000 59,740,000 (35,563,000) 24,177,000 3,875,000 (1,423,000) 2,452,000 Potential GTJ Finance Ratios Current Portfolio Market Value Debt $ 623,600,000 $ 251,188,000 LTV 40.3% DSCR 1.84 Current Portfolio - After Refinancing Additional Potential Acquisitions Portfolio After Refinancing & Potential Acquisitions $ 623,600,000 $ 304,097,000 $ 58,000,000 $ 35,563,000 $ 681,600,000 $ 339,660,000 48.8% 61.3% 49.8% 1.92 2.72 2.00 DSCR = Net Operating Income Divided by Debt Service Potential Net Operating Income Potential Debt Service $ $ 28,861,000 = 2.00 14,419,000