EFTA01388615.pdf

I6 October 2016 REITs US REIT 3O16 Earnings Preview [Figure 84: QTS's 3Q16 results preview *TS 1016 MN. 1016 3814 Maw Sawa (5 Cai‘ 4,:oas now A- A- Advil Die Ca a XISia Ia XICha OM Ca 68.49 Revenue 504690 596.601 5104.481 5102,115 mid.terns 5405.992 5401.346 CsAADNOI 554501 564,021 $65.841 $260609 IK8 margin 666% 649% 630% 64 PE r‘dwued MID& 539.111 545,613 546102 545.402 5179.000. 5187.070 5184.225 5180217 %Dusted [CODA manta 444% 462% 441% 44 5% 454% 450% oceratw FFO/sh $0 61 $063 5062 5065 52.55 • 53,65 52.62 51.60 C9alerneeletrlesmeOls 6444 nw rem: Dad ASA Me Pm SOO/a PoolMoil. Ca Ca l MAR at penal end 526.214 528,872 511.033 Churn rate 08% 13% 50% - 4 C4 of Incremental ancient's:1cent. net downgrade. 59583 513.310 Bcolwanot-0lled lannuabied rowel 561100 549.100 C2K 3 renewal spread 'seed, -0 7% 1.0% Total in p•Oitfint<0111:1 VOAD.p.diti• 572[00 5103.000 Annualut0 ROIC 157% 151% nolo rut.-ramp wine..ww o. Inomm, toni.Hthea nal 14141.4 • Update on leasing activity at the Chicago acility. Phase 1 with 48krsf was opened in July Update on NJ facility acquired from DFT • Management expects a reduction to ROIC as Chicago and NJ are leased up • Interest in wholesale leases at recently developed facilities • Expectations for churn as QTS continues the migration from leased to owned facilities • Tenant conversations regarding C2 and C3 demand and impact from the public cloud Development capex spending expectations for the remainder of 2016 Sourer Danes en, colywny me, Mormon Page 46 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0092266 CONFIDENTIAL SDNY_GM_00238450 EFTA01388615