Monmouth Real Estate Investment Corporation

A Public REIT Since 1968

Nareit REITweek - NYCJune 5-7, 2018

NYSE: MNR

This presentation may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, asamended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995.Forward-looking statements provide Monmouth Real Estate Investment Corporation’s current expectations or forecasts of futureevents. Forward-looking statements include statements about Monmouth’s expectations, beliefs, intentions, plans, objectives,goals, strategies, future events, performance and underlying assumptions and other statements that are not historical facts. Youcan identify forward-looking statements by their use of forward-looking words, such as “may,” “will,” “anticipate,” “expect,”“believe,” “intend,” “plan,” “should,” “seek,” or comparable terms, or the negative use of those words, but the absence of thesewords does not necessarily mean that a statement is not forward-looking. The forward-looking statements are based onMonmouth’s beliefs, assumptions and expectations of its future performance, taking into account all information currently availableto it. Forward-looking statements are not predictions of future events. These beliefs, assumptions and expectations can change as aresult of many possible events or factors, not all of which are known to Monmouth. Some of these factors are described under theheadings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” as includedin Monmouth’s Annual Report on Form 10-K for the fiscal year ended September 30, 2017 and its other periodic reports filed with theSecurities and Exchange Commission, which are accessible on SEC’s Electronic Data Gathering, Analysis and Retrieval website, or“EDGAR” at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with othercautionary statements that are included in this presentation and in Monmouth’s SEC filings. These and other risks, uncertainties andfactors could cause Monmouth’s actual results to differ materially from those included in any forward-looking statements it makes.Any forward-looking statement speaks only as of the date on which it is made. New risks and uncertainties arise over time, and it isnot possible for Monmouth to predict those events or how they may affect it. Except as required by law, Monmouth is not obligatedto, and does not intend to, update or revise any forward-looking statements, whether as a result of new information, future eventsor otherwise. You should not place undue reliance on these forward-looking statements, as events described or implied in suchstatements may not occur.

This presentation may include references to “FFO”, “Core FFO” and “AFFO”, which are non-GAAP financial measures. Areconciliation of “FFO”, “Core FFO” and “AFFO” to the most comparable GAAP financial measures is included in our most recentAnnual Report on Form 10-Q and/or our Supplemental Information package as of March 31, 2018, furnished to shareholders on Form8-K, and is available on our website at www.mreic.reit.

2

Select Properties

Kansas City MSA

Pittsburgh MSA

Lexington MSA

Phoenix MSA

3

Indianapolis MSA Oklahoma City MSA

Company Overview

Memphis MSA

Memphis MSA

Indianapolis MSA

Single tenant, net-leased Industrial REIT specializing in well-located, modern properties subject to long-term leases primarily to investment grade tenants or their subsidiaries

Property portfolio contains 20.3 million square feet, consisting of 110 properties with 99.2% occupancy

Geographically diversified portfolio across 30 states with a focus on major seaports, major intermodal ports, and major airports

Quality roster of investment grade tenants 85% of rental revenue from investment grade tenants or their

subsidiaries, including Amazon, Anheuser Busch, Beam Suntory, Coca-Cola, FedEx, General Electric, International Paper, National Oilwell, Shaw, Sherwin-Williams, Siemens, United Technologies and other high-quality companies

Strong recent growth MNR successfully grew GLA by approximately 120% during

the past five years In fiscal 2017, closed on ten properties totaling 2.8 million

square feet for $287 million Thus far in fiscal 2018, closed on four properties with

approximately 1.7 million square feet for $140.4 million Current acquisition pipeline includes two properties totaling

624,000 square feet with a total purchase price of $80.9 million

Conservative capital structure 34.4% Net Debt to Total Market Capitalization 6.7x Net Debt/Adjusted EBITDA 2.4x Fixed Charge Coverage 11.5 years Weighted Average Debt Maturity

Source: MNR 10-Q and subsequent press releases 4

Portfolio Overview 110 properties geographically diversified across 30 states, totaling

approximately 20.3 million square feet of GLA Highest occupancy rate in the Industrial REIT sector at 99.2% Currently in our third consecutive year of above 99% occupancy Youngest weighted average building age in the Industrial REIT

sector at 9.0 years Average building size is approximately 185,000 square feet Weighted average lease maturity is 7.7 years Weighted average rent per square foot is $5.90 Simple business model

No off-balance sheet joint ventures No in-house development division No significant non-income producing land

95.2%96.0% 95.9%

97.7%

99.6% 99.3% 99.2%

90.0%

91.0%

92.0%

93.0%

94.0%

95.0%

96.0%

97.0%

98.0%

99.0%

100.0%

FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 Current

Occupancy

100.0% 100.0%

86.0%93.0%

53.0%

100.0% 100.0%92.0%

0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%90.0%

100.0%

FY 2010 FY 2011 FY 2012 FY 2013FY 2014*FY 2015 FY 2016 FY 2017

Tenant Retention

5

Charlotte MSA

Consistent Results

* Only 438,000 square feet, representing 4% of total GLA, came due in fiscal 2014. 60,400sf of the 208,400 sf that did not renew was re-leased to a new tenant.Source: MNR 10-Q and subsequent press releases

Portfolio Growth

6

8.5 9.6

11.2

13.9

16.0

18.8

20.8

6.0

8.0

10.0

12.0

14.0

16.0

18.0

20.0

22.0

FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018E

Tota

l Squ

are

Feet

(In

Mill

ions

)

Total GLA

Total Real Estate Assets

$0.546$0.628

$0.744

$0.941

$1.171

$1.453

$1.653

$0.4

$0.6

$0.8

$1.0

$1.2

$1.4

$1.6

$1.8

FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018E

Tota

l R

eal E

stat

e A

sset

s (in

Bill

ions

)

Source: MNR 10-Q and subsequent press releases

Capital Structure

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 Q2'2018

Debt Preferred Equity Common Equity

Tota

l Mar

ket C

apita

lizat

ion

($ in

Bill

ions

)

7Source: MNR 10-Q and subsequent press releases

Financial Highlights

Source: MNR 10-Q and subsequent press releases

Gross Revenue

Adjusted Funds from Operations per Share

$10

$30

$50

$70

$90

$110

$130

2014 2015 2016 2017 6MOS'2017 6MOS'2018

+ 23%

+ 17%

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

$0.80

2014 2015 2016 2017 6MOS'2017 6MOS'2018

+ 23%

8

$ in

Mill

ions

+ 20%

+ 9%

+ 10%

+ 19%

+ 26%

Ecommerce Trends and MNR’s Portfolio

Source: U.S. Census Bureau

The entire retail industry has been shifting its focus from traditional brick and mortar stores to ecommerce platforms which hasled to significant demand for large, modern industrial distribution centers

U.S. ecommerce sales are expected to increase to over $500 billion in 2018 Excluding food, fuel, and auto ecommerce represents approximately 16% of total U.S. retail sales

ECommerce Sales

$-

$100

$200

$300

$400

$500

$600

2011 2012 2013 2014 2015 2016 2017 2018E

CAGR: 15.2%

9

Global Retail Sales

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

0

5

10

15

20

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

E

Online Sales (LHS)

In-Store Sales (LHS)

% Online (RHS)

$ in

trill

ions

Source: Goldman Sachs

Global consumer habits continue to change resulting in ever greater market share taking place online Global ecommerce sales are expected to rise to $2.4 trillion in 2018

10

Source: K.C. Conway, Director of Research, Chief Economist, Alabama Center for Real Estate11

Q. What is it about the “Golden Triangle” that makes it tops in GDP, Logistics & Supply-Chain?

A. Best “Freightways!”

MREIC’s Portfolio:84 of 110 properties

are located within the“Golden Triangle”

The Golden Mfg & Logistics Triangle:SE (#1 @ 22%) + SW + Great lakes

47% US GDP

The “Golden Triangle” – It’s “All about Logistics!”Remaking the Supply-Chain – A GREAT story for Mid-Central & SE U.S

The GDP Golden Triangle

Portfolio Markets & Panama Canal Expansion

Source: MNR 10-Q, subsequent press releases, Parsons Brinckerhoff Panama Canal Expansion Study, June 2012; Panama Canal Authority, Canal Expansion Programs – Components Report April 2012, Washington Post: “Modernization of the Panama Canal”; January 2013

Following nine years of construction costing $5.4 billion, the Panama Canal expansion project opened on June 26, 2016 North American ports have been spending billions of dollars in order to prepare for these larger ships

These ships have more than twice the cargo capacity of current ships The expanded Panama Canal allows larger vessels an approximate 29 day shorter transit time from the Atlantic to the Pacific oceans Container traffic has been shifting to the East Coast ports Over 70% of the U.S. population lives east of the Mississippi River

12

Eastern Coastal

East Coast Inland

Gulf coast & Mississippi valley

Non-impacted marketsExisting Properties

Acquisitions Under Contract

Source: K.C. Conway, Director of Research, Chief Economist, Alabama Center for Real Estate13

https://www.logisticsmgmt.com/article/u.s._ports_update_part_1_expanded_panama_canal_changes_the_balance

According to its latest throughput figures, the Panama Canal transited a total of 13,548 vessels during its fiscal year 2017, representing a 3.3% increase compared to totals the year before. Thanks to the larger Neopanamax vessels now able to transit the expanded Canal, the growth in traffic translated into a 22.2% increase in total annual tonnage from 2016, and helped the Panama Canal surpass the already ambitious cargo projection of reaching 399 million tons.“These record figures reflect not only the industry’s confidence in the expanded Canal, but also illustrate our continued ability to transform the global economy and revitalize the maritime industry,” says Jorge Quijano, Panama Canal administrator.

Following the close of its September 30, 2017 fiscal year, Panama canal authorities announced that the entrepot welcomed a record 403.8 million tons – the largest amount of annual volume ever transited in its 103-year history. Industry analysts say the impact on U.S. ocean cargo gateways will soon become evident.

The Panama Canal currently serves 29 major liner services, including 15 Neopanamax liner services, primarily on the U.S. East Coast to Asia trade route. Chris Rogers, an analyst with the global trade consultancy Panjiva, notes that the diversion of Asian-inbound traffic from U.S. West Coast ports to those on the East Coast “took a step forward” with Panama Canal expansion.Data shows shipments to Southeast ports increased by 26.9 % over FY 2016, while those to California increased by a more modest 7.7 %(Source: Chris Rogers with Panjiva).

Expanded Panama Canal Changes the Balance

Source: K.C. Conway, Director of Research, Chief Economist, Alabama Center for Real Estate14

SE – MidAtlantic Ports growing 3X-4X

West coast Ports

SE & VA TEU Growth is UnmatchedSC had 45% TEU Container Growth 2011-2016

High Quality Tenant Base

85% of rental revenue is from investment grade tenants or subsidiaries Higher investment grade tenant base than any other REIT

Rental roster includes Amazon, Anheuser Busch, Coca-Cola, Dr Pepper Snapple Group, FedEx, General Electric, International Paper, Jim Beam, Milwaukee Tool, National Oilwell, Shaw, Sherwin Williams, Siemens, Snap-on, ULTA, United Technologies and other high quality companies

MNR began investing in properties leased to FedEx in 1994 Recent acquisitions include one property consisting of an additional 121,683 square feet leased to FedEx Fourteen FedEx expansion projects completed since Fiscal 2014, increasing the rent and lease terms of these

facilities

Higher Investment Grade Tenant Base Than Any Other REIT

15Source: MNR 10-Q and subsequent press releases

FedEx Ground, 39.2%

FedEx Express, 7.6%

Milwaukee Tool, 4.2%Shaw Industries,

4.1%ULTA, 3.3%

Jim Beam Brands, 3.0%

International Paper, 2.8%

TreeHouse, 2.7%

B. Braun Medical, 2.0%

Remaining Tenants, 31.1%

FedEx Ground, 50.0%

FedEx Express,

6.7%

Shaw Industries, 3.0%

Milwaukee Tool, 2.5%

ULTA, 2.3%

International Paper, 2.2%

United Technologies, 1.9%

TreeHouse, 1.9%

B. Braun Medical, 1.8%

Jim Beam Brands, 1.7%

Remaining Tenants, 26.0%

High Quality Tenants

Square Footage by TenantAnnual Rent by Tenant

16Source: MNR 10-Q and subsequent press releases

FDX and its subsidiaries represent 56.7% of Annual Rent

FDX and its subsidiaries represent 46.8% of Square Footage

Florida, 11.3%

Texas, 8.8%

Ohio, 7.6%

Kentucky, 6.4%

Mississippi, 5.7%

Georgia, 5.6%

South Carolina, 5.0%

Indiana, 4.9%Illinois, 4.7%

North Carolina, 4.6%

Remaining States, 35.4%

Florida, 13.2%

Texas, 11.9%

Ohio, 7.5%

South Carolina,

5.5%

Illinois, 5.1%

North Carolina, 4.8%

Michigan, 4.7%Kentucky, 4.3%

Georgia, 4.2%

Kansas, 3.9%

Remaining States, 34.9%

Geographic Focus

Annual Rent by State Square Footage by State

17

Our 20.3 million square foot portfolio is well diversified over 30 states

Source: MNR 10-Q and subsequent press releases

Summary Portfolio Metrics

Source: SNL Financial1. Occupancy for MNR and peers based on SEC reports available as of 5/25/18.2. On a per square foot weighted average basis, MNR’s portfolio is 9.0 years old. This chart uses simple average instead of weighted average for comparative purposes because its peers do not publish weighted average. 18

Current Occupancy (1)

Rate

Average Building Age (in Years) (2)

Rent Roll (% next 3 years by base revenues)

99.2%

97.2% 97.1% 97.0% 97.0% 97.0%

94.7%94.1% 94.0%

90.0%

92.0%

94.0%

96.0%

98.0%

100.0%

MNR DRE FR TRNO EGP PLD STAG DCT PSB

11.8%

31.0%

38.9%44.4% 44.4% 45.1%

49.3% 51.7% 54.5%

0.0%10.0%20.0%30.0%40.0%50.0%60.0%

MNR DRE TRNO DCT PLD FR STAG EGP PSB

13 15 19 19

23

31 31 32

-

10

20

30

40

MNR DRE EGP PLD DCT FR STAG TRNO

Highest occupancy rate in the sector

Youngest portfolio among peers

Limited near term rent roll

Fiscal 2018 Acquisitions In fiscal 2017, Monmouth acquired ten industrial properties, of which 77% are leased to investment grade tenants or their

subsidiaries for $287 million, containing approximately 2.8 million square feet Thus far in fiscal 2018, Monmouth acquired four industrial properties, of which 76% are net leased to investment grade

tenants or their subsidiaries for approximately $140.4 million, containing approximately 1.7 million square feet Monmouth’s acquisition pipeline currently contains approximately 624,000 square feet of new build-to-suit properties of

which all are leased to investment grade tenants or their subsidiaries with an aggregate purchase price of $80.9 million

Fiscal 2018 AcquisitionsCharleston,

SCOklahoma City,

OKSavannah,

GADaytona Beach,

FL

Tenant:

Credit Rating:(S&P/Moody’s) BBB/Baa2 AA-/Baa1 AA/Aa2 NR

Year Built: 2017 2017 2018 2018

Size (sf): 121,683 300,000 831,764 399,440

Acres: 16.2 123.0 62.4 27.5

Purchase Price: $21,872,170 $30,250,000 $57,483,636 $30,750,540

Price/SF: $179.75 $100.83 $69.11 $76.98

Lease Maturity: 8/31/2032 10/31/2027 9/30/2027 4/1/2028

Annualized Rental Revenue: $1,315,000 $1,884,000 $3,551,000 $2,128,000

19Source: MNR 10-Q and subsequent press releases

Select Recent Acquisitions

FedEx Ground – Orlando, FL MSA – 310,922 sf

20Source: MNR 10-Q and subsequent press releases

Walmart has recently constructed two large ecommerce fulfillment centers (one on each side of our FedEx facility) totaling 2.35 million square feet

The Changing of The Guard

Before

21Source: MNR

The Big Town Mall was for many years the largest mall in Texas, and today…

The Changing of The Guard

After

22Source: MNR

This large 65 acre parcel situated six miles east of downtown Dallas is now the site of Monmouth’s new 352,000 sf FedEx facility.

Select Recent Acquisitions (continued)

Indianapolis, IN MSA –671,354 sf

23Source: MNR 10-Q and subsequent press releases

Pittsburgh, PA MSA –125,860 sf

Acquisition Pipeline Strong acquisition pipeline comprising approximately 624,000 square

feet with a purchase price of $81 million Leases commence throughout fiscal 2018 The two acquisitions included in the pipeline have a weighted

average lease maturity of 12.3 years Monmouth actively looks for new built-to-suit opportunities near

already owned FedEx facilities Five FedEx expansion projects completed within the last two years

with a total cost of $10.6 million as well as a 250,000 sf expansion for Milwaukee Tool at a total cost of $9.8 million

These expansions result in increased rents and extended lease terms Monmouth maintains excellent relationships with top merchant

builders

24

Built-to-Suit

Built-to-SuitBuilt-to-Suit Infrastructure Installation

Source: MNR 10-Q and subsequent press releases

Lease Expirations Are Well Dispersed Minimal rent roll down risk observed on lease renewals Weighted average lease maturity currently at 7.7 years Weighted average rent per occupied square foot of $5.90 National average rent psf for industrial real estate

currently is $5.99 and trending higher

Monmouth historically averages over 90% annual tenant retention: 100% renewed in Fiscal 2015 and 2016, and 92% renewed in Fiscal 2017

0 sq. ft.

500 sq. ft.

1,000 sq. ft.

1,500 sq. ft.

2,000 sq. ft.

2,500 sq. ft.

3,000 sq. ft.

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034

$8.27

$5.35

$5.55

$4.52$5.64

$5.68$6.42

$5.10

$3.95

$8.02

$4.79

$7.61

GLA 1.5% 7.2% 1.9% 5.9% 5.6% 8.2% 7.5% 12.2% 4.8% 11.3% 10.6% 1.3% 5.1% 4.7% 8.5% 0.0% 2.7%

ABR 2.1% 6.6% 1.8% 4.6% 5.4% 8.0% 8.2% 10.3% 6.6% 10.6% 8.7% 1.3% 6.2% 6.0% 11.0% 0.0% 1.9%

Expi

ring

Squa

re F

oota

ge (0

00’s

)

25

Expiring square footage (‘000’s)Average rent per occupied square foot of expiring square footage above each bar

Source: MNR 10-Q and subsequent press releases, GLA: Gross Leasable Area, ABR: Annual Base Rent

$5.78

$5.48

$7.39$7.09

Favorable US Industrial Fundamentals

Source: CBRE Research & Green Street

Current economic indicators are very favorable for the US industrial real estate sector due to: Rising GDP Rampant growth in ecommerce Limited new construction over the past 8 years Manufacturing growth due to increased domestic energy production Continued benefits from the recently completed Panama Canal expansion Resurgent Housing Sector

US Industrial Construction (000’s) US Industrial Occupancy

0

100,000

200,000

300,000

400,000

2004 2006 2008 2010 2012 2014 2016 201885%

90%

95%

100%

2003 2005 2007 2009 2011 2013 2015 2017

95.5%251,000

26

US Cap Rates

4%

6%

8%

10%

2004 2006 2008 2010 2012 2014 2016 2018

5.0%

Conservative Balance Sheet Conservative capital structure

34.4% Net debt to total market capitalization 6.7x Net Debt/Adjusted EBITDA 2.4x fixed charge coverage 81% fixed rate debt, weighted average interest rate of 4.1%

Limited debt maturities each year through 2022 81% of debt consists of modest LTV asset level mortgage financing Weighted average mortgage maturity of 11.5 years, representing

one of the longest debt maturity schedules in the REIT sector $347.1 million in potential liquidity

$144.6 million in REIT marketable securities $90.0 million available on our $200 million unsecured

revolving line of credit, plus an additional $100 million potentially available on an accordion feature

$12.5 million in cash

Source: MNR 10-Q and subsequent press releases (1): All dollar amounts except stock price are in millions

Debt Maturities

Total Market Capitalization (1)

Equity, 53%Debt, 35%

Preferred, 12%

Total Shares Outstanding 78,846,177

Stock Price (3/31/18) $15.04

Equity Market Capitalization $1,185.8

Mortgage Notes Payable 632.1

Loans Payable 154.3

Total Debt $786.4

Total Preferred 277.4

Total Market Capitalization $2,249.6

27

$0

$50

$100

$150

$200

$250

$300

$350

$400

$450

2018 2019 2020 2021 2022 Thereafter

5.6%

19.3%

7.4%

50.9%

8.5% 8.3%

Tota

l Deb

t (in

Mill

ions

)

Dallas MSA

Loans Payable

Mortgages

% of Total Debt Outstanding

Long Term Cash Dividend

Source: SNL Financial

Monmouth has maintained or increased its dividend for 26 consecutive years On October 2, 2017, Monmouth increased its dividend by 6.25% to $0.68 per year, marking our second dividend

increase in 3 years. These 2 dividend increases total 13% Current AFFO dividend payout ratio is a conservative 77% Monmouth was one of the only REITs that maintained its dividend throughout the Great Recession 100% cash dividends since inception

$0.53 $0.57

$0.58 $0.58 $0.58 $0.58 $0.58 $0.58 $0.60 $0.60 $0.60 $0.60 $0.60 $0.60 $0.60 $0.60 $0.60 $0.60 $0.64 $0.64

$0.68

$-

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

$0.80

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

E

Dividends Per Share

28

Peer Analysis

Source: SNL Financial as of 5/25/18NOTE: MNR peers include DCT, DRE, EGP, FR, PLD, PSB, STAG and TRNO.

Dividend Yield

2018E FFO Multiple 2018E FFO Payout Ratio

Total Debt/Total Market Capitalization

29

29.4x

25.2x

21.6x 21.5x20.1x 20.0x 18.9x

17.3x14.8x

0.0x

5.0x

10.0x

15.0x

20.0x

25.0x

30.0x

35.0x

TRNO DCT PLD DRE EGP FR PSB MNR STAG

32.6%

28.8%26.5%

25.0%22.9%

19.8% 19.8% 19.2%

2.4%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

MNR STAG EGP FR DCT DRE PLD TRNO PSB

5.4%

4.4%

3.0% 2.9% 2.8% 2.8% 2.7%2.3% 2.2%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

STAG MNR PLD DRE PSB EGP FR TRNO DCT

79.1% 75.9%

68.3%64.2% 61.5%

56.2% 55.8% 54.2% 53.7%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

STAG MNR TRNO PLD DRE EGP DCT FR PSB

Total Return Performance

Source: SNL Financial as of 5/25/18

10 Year

-100-50

050

100150200250300350400

5/25

/200

8

9/25

/200

8

1/25

/200

9

5/25

/200

9

9/25

/200

9

1/25

/201

0

5/25

/201

0

9/25

/201

0

1/25

/201

1

5/25

/201

1

9/25

/201

1

1/25

/201

2

5/25

/201

2

9/25

/201

2

1/25

/201

3

5/25

/201

3

9/25

/201

3

1/25

/201

4

5/25

/201

4

9/25

/201

4

1/25

/201

5

5/25

/201

5

9/25

/201

5

1/25

/201

6

5/25

/201

6

9/25

/201

6

1/25

/201

7

5/25

/201

7

9/25

/201

7

1/25

/201

8

5/25

/201

8

30

Dividend Yield5.4%

4.4%

3.0% 2.9% 2.8% 2.8% 2.7%2.3% 2.2%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

STAG MNR PLD DRE PSB EGP FR TRNO DCT

MNR Peer Group RMS

320.32%

88.67%79.24%

Monmouth is one of the top 10 performing REITs over a 2, 10 and 20 year period

Key Investment Highlights

Best-in-Class Single Tenant Net-Lease Industrial Portfolio

31

Geographically Diversified with a High Quality Tenant Base

Demonstrated Portfolio Growth and Well Positioned for Future Growth

Conservative Balance Sheet

Experienced & Aligned Management Team with 8% Ownership

Monmouth Real Estate Investment Corporationwww.MREIC.reit