Investor Presentation

August 2020

Presentation OverviewSection 1Section 2Section 3Section 4Section 5

Appendix 1Appendix 2Appendix 3

Our Company & StrategyBusiness UpdateInvestment HighlightsPortfolio OverviewFinancial Highlights

Environmental, Social and GovernanceEuropean StrategyMarket Fundamentals

Our Company & Strategy

Company Snapshot

Dream Industrial REIT (DIR) owns and operates a diversified portfolio of logistics, warehousing and urban

light industrial properties across Canada, U.S. and Europe, supported by a platform with a proven track

record of long-term value creation

Canada

U.S.

Europe

4.1 yrsWALT

262Properties

96%Committed Occupancy

28% Net debt-to-assets

26M SFGLA

$1.2BUnencumbered

Assets2

10%1

1 – As a % of Investment Properties (“IP”) Value at June 30, 2020 2 – Following the repayment of a $17M mortgage in July 2020

69%1

21%1

Our Strategy

5

Global Acquisition Platform

Local on the ground teams with a strong track record

of sourcing attractive industrial opportunities

across Canada, the United States, and Europe

Value Enhancing Growth

Selective Capital Recycling

Selective recycling program and redeployment of

capital into higher quality properties that are less

management and capital intensive

Improve Portfolio Quality

Asset Management

Drive organic NOI and NAV growth by executing

creative asset management strategies, initiating and

executing on developments

Maximizing Property Value

Conservative Financial

Policy

Maintain conservative leverage, build up high

quality unencumbered assets pool, while reducing interest

expense and preserving liquidity

Strong Balance Sheet & Liquidity Position

Local Platforms + Strategic Relationships

6

Dream provides expertise on acquisitions, strategic transactions,

capital and portfolio allocation, capital markets as well as access to its

Canadian development platform.

Dream provides a dedicated local acquisition and asset management

team along with long-standing relationships with the European real

estate brokerage network.

Canada Europe

PAULS Corp. provides DIR a local U.S. operating and capital management platform to obtain unique access to

acquisition and development pipelines in the U.S.

United States

Over the past three years, the population in markets we invest in has grown from 37 million to ~ 900 million1. We have a local on-the-ground track record, experience and relationships to help deliver above average returns for unitholders

1 – Source: United Nations, Department of Economic and Social Affairs

Portfolio TransformationAdding scale and increasing presence in target markets

7

We have completed over $1 billion in acquisitions over the past three years that have added over 12 million square feet of well-located properties in strong industrial markets

$1.6M$1.7M

$2.1M

$2.4M

$2.9M

1.0

1.5

2.0

2.5

3.0

2016 2017 2018 2019 H1-2020

Bill

ion

s C

AD

DIR announces expansion into U.S. and the appointment of Brian Pauls as CEO

DIR adds scale in the U.S. and target Canadian markets with $243M of

acquisitions

DIR upgrades quality of portfolio through $371M of acquisitions and

$273M of dispositions

DIR announces European expansion, completes $425M of acquisitions across Canada and Europe, with an additional

$136M of assets across Canada and Europe in exclusivity/under contract

72%

16%

20%

-20%

0%

20%

40%

60%

80%

100%

120%

Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20

DIR S&P/TSX REIT Index S&P/TSX Composite Index

Significant Value Creation for UnitholdersTotal return since execution of strategic initiatives

8

Since year-end 2016, DIR has significantly outperformed the broader equity market as well as the REIT index

COVID-19

Business Update

Q2 2020 Business Update

10

Operations update

• As of August 4, 2020 collected approximately 98% of recurring contractual gross rents due for Q2 2020 after adjusting for agreed-upon deferrals and Canada Emergency Commercial Rent Assistance (“CECRA”)

• The Trust has agreed to rent deferral arrangements with 55 tenants, representing approximately 3.5% of recurring contractual gross rent for Q2 2020, of which 25% has since been repaid

• As of August 4, collections for July amount to 96% adjusted for CECRA

Strong liquidity position• Cash and undrawn credit facility total ~$378 million*• Net debt-to-assets currently at 28%, below target average leverage in the mid 30% range• Unencumbered assets total $1.2 billion*, or 40% of investment properties value

Limited leasing risk• Portfolio occupancy is 96% as at June 30, 2020• Secured lease commitments representing ~90% of 2020 expiries• Only 3% of portfolio GLA set to expire over the remainder of the year, with expiring rents below market rents

Significant acquisition capacity

• $136M of acquisitions currently under contract or in exclusive negotiations• Capacity to complete ~$300 million of acquisitions before leverage exceeds 35%• Acquisition pipeline remains strong with more than $500 million of high-quality assets

* Following the repayment of a $17M mortgage in July 2020

Continuing to High-Grade the Portfolio

11

Waived all conditions on two assets in Germany

Pro forma the closing of acquisitions that are exclusive/under contract, DIR will have completed over $550 million in acquisitions in 2020

• DIR is also in exclusive negotiations on four assets acrossthe Netherlands, Greater Toronto Area, and the GreaterMontreal Area

• Combined purchase price totals ~$78 million, representinga going-in cap rate of 5.5%

• Acquisition pipeline remains strong with more than $500million in assets currently

0.6M sf

GLA

6.1%Avg. Cap

Rate

30 ft.Avg. Clear

Height

$58MPurchase

price

20%Market vs.

In-place Rent

Investment Highlights

Investment Highlights

13

Secure cash flows underpinned by high quality portfolio and strong balance sheet

Multiple drivers of cash flow and NAV growth

Attractive distribution yield of 6.2%1, ~150 bps higher than peer average2

High quality, well-diversified portfolio

Conservative leverage, ample liquidityIn-place rents ~9% below market; annual rental escalators

average ~2% for the entire portfolio

Ability to lower average cost of debt by at least 20% in 12-24 months by accessing European debt

Increase FFO per unit by over $0.03 by leasing ~0.6M sf of vacancy in the GTA and the U.S.

Capacity to complete ~$300 million of acquisitions before leverage exceeds 35%

1Distribution yield is a non-GAAP measure and is calculated as annual distributions per unit divided by unit price as at August 20, 20202Peer group reflects Canadian listed pure-play industrial REITs

Robust fundamentals for industrial real estate

DIR is well-positioned to continue to create long-term value for its unitholders

14

Well-Diversified Portfolio by Asset Type

Distribution43% of total IP Value

Urban Logistics39% of total IP Value

Light Industrial18% of total IP Value

Portfolio comprises functional, well-located properties that are well-positioned to benefit from rising e-commerce penetration

*As at June 30, 2020

Canada,$569M,

46%

U.S.,$528M,

42%

Europe, $146M,

12%

Canada, $949M,

84%

U.S., $75M, 7%

Europe, $105M, 9%

Canada, $490M,

93%

Europe, $36M, 7%

15*Tenants in the Diversified industries segment produce, assemble or distribute goods to various industriesAs at June 30, 2020

Tenant Base Highly Diversified Across Multiple Industries

No one industry accounts for more than 12% of annualized base rent with the Energy sector accounting for only 1% of annualized base rent

Diversified Industries, 15%

Residential, 12%

Apparel and Consumer, 10%

Auto, 11%

Food and Beverage, 11%

Logistics, 9%

Paper, Printing, and Packaging, 7%

Technical Services, 7%

Other Services, 5%

Construction (non-residential), 5%

Miscellaneous, 3%

Healthcare, 2%

Recreational Services, 2% Agriculture, 1%Energy, 1%

16

Attractive Mix of Large and Small Tenants

✓ Diversified tenant base with approximately 1,150 tenants

✓ Top ten tenants represent approximately 15% of Gross Rental Revenue and include high-quality investment-grade covenants

✓ Predictable income with WALT of 4.4 years from top 10 tenants and 4.1 for the entire portfolio

Tenants occupying <10K sf

4K sfAvg.

tenant size

15%of annual base rent

714 Number of

tenants

Tenants occupying >100K sf

22K sfAvg.

tenant size

42%of annual base rent

52 Number of

tenants

As at June 30, 2020

Healthy Outlook for Internal Growth

17

+8.9%Market vs.

In-place rent - %

Ann. contractual rent growth

+9.4% +4.5%

2.0% 2.5% 1.5%

With contractual rent escalators that average ~2% for the overall portfolio and in-place rents well below current market rents, DIR is well-positioned to generate healthy internal growth over the long-term.

As at June 30, 2020

$7.38

US$3.95

€ 5.16

$8.04

US$4.32

€ 5.39

$0.00

$2.50

$5.00

$7.50

$10.00

Canada U.S. Europe

In-place and committed base rent (psf) Estimated market rent (psf)

Strong Balance Sheet Provides Stability and Opportunity to Pursue Value-Enhancing Growth

18

~20% leverage reduction since year-end 2017; capacity to complete $300M of acquisitions before leverage exceeds 35%

53.8%52.5%

47.9%

43.5%

23.7%

28.2% 28.1%

8.4x 8.4x

7.8x

7.2x

4.3x

5.3x 5.4x

Ne

t D

ebt

To A

dju

sted

EB

ITD

AFV

Ne

t D

ebt

To A

sset

s

Net Debt To Assets Net Debt To Adjusted EBITDAFV

52%

48% ~2%Weighted Avg. Interest

Rate

3.6%Weighted Avg. Interest

Rate

3.8%Weighted Avg. Interest

Rate

Transitioning Towards Optimal Capital Structure

19

European platform will allow us transform our debt composition and reduce our overall cost of debt which we expect will improve our ROE by ~15%1.

Q2 2017 Conceptual Debt Mix1

North American Debt`

European Debt Equity

25%

8%

67%

Q2 2020

1 – For illustrative purposes only, actual results may differ. ROE is calculated as free cash flow divided by book value of equity

28%

72%

Our Portfolio & PlatformPortfolio Overview

21

Canada United States Europe

$2.0 Billion $602 million $287 million

4.0 years 4.0 years 5.4 years

96.4% 94.0% 95.6%

Geographically Diverse Portfolio*

$2.9 Billion

4.1 years

95.6%

Total

IP Value

WALT

Committed Occupancy

198 29 35# Properties 262

* As at June 30, 2020

Investment Strategy to Increase the Overall Quality of Our Portfolio

22

High Quality

1

Assets that are well-located, with easy access to transportation networks, population centres and key business nodes

Functional

2Industrial properties that are attractive to a wide variety of tenants with various business uses. We are targeting good quality logistics facilities that house mission-critical, distribution related business functions

Attractive Economics

4

Focus on going-in, 5 and 10-year cap rates, in-place vs. market rent, free cash flow yield and unlevered total returns to ensure our investments exceed our return hurdles

Well Located

3

Focused on allocating capital towards investments that improve the overall quality of our portfolio

Asset ManagementDisciplined investment strategy to grow free cash flow and net asset value

23

Experienced Platforms

1

Combined over 50 years of experience acquiring and managing industrial real estate between Dream and PAULS Corp

IRR Model

3

Evaluate and benchmark each individual asset in our portfolio, assessing historical and future performance as well as value

Disciplined Capital Allocation

4

Prudently invest capital in properties with potential for free cash flow and value growth over the long term

Asset Recycling

2

Identify select opportunities to recycle assets within our portfolio and reinvest the proceeds into higher quality assets that will provide superior long-term value

24

We recycled over ~$280 million of assets in the past 30 months with proceeds being deployed in over $1 billion of higher quality assets with stronger free cash flow yields

12K sfAvg. tenant

size

21.6 ft.Avg. clear

height

YE 2016

22K sfAvg. tenant

size

24.5 ft.Avg. clear

height

Q2 2020

6.7%IFRS Cap rate

5.9%IFRS Cap rate

67%Net rental

income margin

71%Net rental

income margin**

NOI margin reflects data from the 12 month period ended 2019*** NOI margin is a non-GAAP measure defined as net rental income as a percentage of investment property revenue

Portfolio TransformationImproving asset quality

16M sfGLA

24%ABR* from

tenants >100K sf

26M sfGLA

42%ABR* from

tenants >100K sf

Portfolio Transformation - Quality

25

9601 156th Avenue, Grand Prairie 131 Ilsley Avenue, Halifax

439 Sovereign Road, London 40 Thornhill Drive, Halifax 8860 Smith’s Mill Road, Columbus

1602 Tricont Avenue, Whitby

Dutch Portfolio, Netherlands

1250-1280 Humber Place, Ottawa

We recycled over ~$280 million of assets in the past 30 months with proceeds being deployed in over $1 billion of higher quality assets with stronger free cash flow yields

Portfolio Transformation – Geography

26

We have significant scope and reach to execute on the best industrial opportunities in markets experiencing strong fundamentals with high potential for NAV growth

For illustrative purposes only, actual results may differ

% of total IP Value Q2 2017 Q2 2020 Target Portfolio Mix1

Ontario/GTA 28% 33% 30%-40%

Quebec 18% 15% 10%-15%

U.S. - 21% 15%-25%

Europe - 10% 20%-30%

Western Canada 39% 21% ~10%

Eastern Canada 15% - -

Initiating Developments

27

Experienced PartnersDream and PAULS Corp have an extensive track record in commercial development, with PAULS Corp having developed over 16 million square feet of real estate across Canada and the U.S. (including Las Vegas), DIR will not be required to pay a promote to the development managers

Portfolio “High-grading”

Opportunity to add high-quality Class A industrial product at attractive economics to the REIT. We are targeting development yields in the high 5s and low 6s, which is ~100 bps higher than estimated cap rates on comparable stabilized properties

Attractive Markets

Initial Development24.5-acre site well-located in North Las Vegas. The site should support a ~450,000 sf building and DIR has an 80% ownership interest with an expected development yield of ~6%.

Pursue development opportunities in the REIT’s target markets in Canada as well as strong U.S. markets where PAULS Corp. has significant experience in building industrial product

1

2

3

4

Financial Highlights

Consistently High Occupancy

29

Well-diversified portfolio with a strong leasing team has resulted in healthy retention and consistently high occupancy

96% 96% 96% 95% 95% 97% 97% 96% 96%96% 97% 98% 98% 96% 95% 95% 94% 95%

73%70%

67%

63%

71%

80%78%

74%

81%

20%

40%

60%

80%

100%

20%

40%

60%

80%

100%

2012 2013 2014 2015 2016 2017 2018 2019 H2 2020

Ret

enti

on

Rat

io

Co

mm

itte

d O

ccu

pan

cy

Committed Occupancy Committed Occupancy - Western Canada Retention Ratio

Limited Near-Term Lease Maturities*

30

WALT of 4.1 years and with staggered lease expiries provides cash flow stability; ~13% of GLA expiring in the next 18 months at below market rents

*As at June 30, 2020

Expiries - U.S., 0.4% Expiries - U.S.1.1%

Expiries - Europe, 0.1% Expiries - Europe, 0.6%

2.5%

8.0%

97.0%90.3%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

Remainder of 2020 2021

% o

f G

LA

Expiries - U.S. Expiries - Europe Expiries - Canada Committed GLA

Strong Unencumbered Asset Pool Increases Balance Sheet Flexibility

31

Unencumbered assets total $1.2 billion, representing 40% of investment properties value,

positioning us well to achieve an investment grade credit rating

$0.1B

$1.2B

$0.4B

$0.3B

$0.3B $0.1B

$0.0B

$0.5B

$1.0B

$1.5B

YE 2019 2020 Acquisitions (Q2-2020 IFRSValue)

Prepaying mortgage debt Converting credit facility tounsecured

Repayment of mortgage debt Unencumberedasset pool

$112$44

$98

$473

$11M

$21M

$19M

$16M

$66M

$0

$250

$500

$750

Remainder of 2020 2021 2022 2023 2024+

Mill

ion

s C

AD

Balance due at maturity Principal repayments

Ample liquidity available to address upcoming debt maturities and contractual cash obligations

Well-Staggered Debt Maturity Profile

32

5.6 years

WATM1

3.6%WAIR2

$38MCash-on-hand3

US$250MCredit facility availability

1- WATM : Weighted average remaining term to maturity as at June 30, 20202- WAIR : Weighted average interest rate as at June 30, 20203 - Following repayment of a $17M mortgage on July 2, 2020

3

Opportunity to Reduce Cost of Capital and Further Improve Balance Sheet Quality

Conservative Leverage Targeting average net debt-to-assets in the mid-30% range over the long term

Cross Currency Hedging Over the medium-term, increase Euro denominated debt while reducing debt in Canada to reduce our borrowing cost and currency risk

Capitalizing on Yield Spreads 5-year Euro debt ~150 bps lower on a comparative basis than North American rates; could reduce overall cost of debt by over 20% in 12-24 months

Unencumbered Asset Pool+ Credit Rating

Recently increased unencumbered asset pool to 40% of IP Value, positioning us well for an investment grade credit rating

3

1

4

2

Implementation of our debt and hedging strategies on our initial European portfolio is expected to generate ~$0.02 - $0.03 of accretion per unit to our results on an annualized basis without increasing leverage

Appendices

Environmental, Social and Governance

Sustainability Highlights

36

75% 25%

National sponsor 449 gifts

~$302,000

~1,300+ shoeboxes ~$11,000 ~$700,000

7 239 MW Energy efficiency

*Social highlights are based on all Dream entities combined

Employee Development

Community Engagement

Tenant Focused – Peer Recognition

Energy efficiency Tenant Engagement

Employee Well Being

Experienced Management Team and Strong Operating Platform

37

~80 employees dedicated to acquisitions, portfolio management, accounting, and finance

On-the-ground resources dedicated to sourcing acquisition opportunities, portfolio management, and leasing

U.S. platform provides on-the-ground resources dedicated to asset management and sourcing unique investment opportunities in our target markets

23 yearsExperience

20 yearsExperience

15 yearsExperience

Brian Pauls Lenis Quan Alexander Sannikov

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

38

European strategyoverview

Relative Logistics Market Size – Europe Versus North America

39

Population Density (People Per km2)1 Comparison – Europe Versus U.S.

Europe

3.4 Billion Square Feet

4.3 sf Per Capita

European logistics square feet per capita is significantly lower than the United States

Higher population density in Germany + Netherlands is a driver of increased demand for last-mile logistics solutions

United States

9.8 Billion Square Feet

30 sf Per Capita

4

36

237

511

Canada United States Germany Netherlands

Why Invest in Europe?

Low Supply

1

Large + Attractive Economy

3The European Union represents 22% of World GDP1 with a population size of over 500 million2. Industrial fundamentals are benefiting from economic growth, low unemployment and increasing demand from distribution as well as logistics users

Rent Indexation

4

Most leases are inflation indexed, providing embedded rental rate increases to drive cash flow growth

Low supply of quality light industrial and logistics product as well as increasing user demands are expected to support healthy rental rate growth

E-Commerce

2

Lower levels of e-commerce penetration compared to U.S. and Canada are expected to result in strong relative demand for logistics and distribution space

401 – Source: Eurostat, Gross Domestic Product2 – Source: United Nations, Department of Economic and Social Affairs

Our Unique Advantages in Europe

41

Dream has been active in Europe since 1998

In 2011, Dream Global REIT was created and quickly amassed a high quality portfolio of European office + industrial assets

The sale of Dream Global REIT in December 2019 for $6.2 billion was a successful outcome for unitholders, delivering total annualized returns of 15% since its IPO

Dream Global REIT’s key team members have joined DIR to execute on its European expansion strategy

Leveraging expertise, deep local

relationships with tenants, lenders and brokers to support DIR’s growth and success in Europe

3

1

4

2

Market Fundamentals

E-commerce Demand Continuing to Accelerate

43

Population growth in our target markets…

30%

11%

8%

16%

0%

10%

20%

30%

40%

2010 2015 2020 2025 2030 2035

Canada US Germany Netherlands

… supporting increased e-commerce penetration

8.9%

14.7%

7.5%

14.1%

7.8%

12.1%

4.0%

8.0%

12.0%

16.0%

2017 2018 2019 2020 2021 2022

United States Canada Europe

Sources – www.OECD.org, E-Marketer e-commerce report, CBRE

44

5.5%

2.9%

9.4%

7.2%

8.3%

4.3%

0%

2%

4%

6%

8%

10%

2014 2015 2016 2017 2018 2019

Canada US Europe

Declining availability…

33.8%

27.6%

10.6%

0%

10%

20%

30%

40%

2014 2015 2016 2017 2018 2019

Canada US Europe

…leading to higher rental rates

Driven by increasing demand from e-commerce users, availability rates have continued to decline with a corresponding rise in rental rates

Source: CBRE, Cushman and Wakefield; JLL

Industrial Fundamentals Poised to Strengthen Further

Forward Looking InformationThis investor presentation may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information generally can be identified by the use of forward-looking terminology such as“outlook”, “objective”, “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, or “continue”, or similar expressions suggesting future outcomes or events. Some of the specific forward-lookinginformation in this investor presentation may include, among other things, our ability to execute our strategy, our ability to deliver above average returns; our ability to benefit from rising e-commerce demand; strategies and plans toincrease the overall quality of our portfolio and grow our free cash flow and net asset value; our ability to access and execute on industrial opportunities in markets with potential for NAV growth; our expectations on the Europeanindustrial market, including expected rental growth and demand for industrial and distribution space; the effect of our European expansion strategy and hedging and debt strategies on our results and financial position; our hedgingand debt strategies, including our ability to hedge our entire Euro capital exposure by borrowing 100% of the Euro value of the Trust’s portfolio and the estimated interest rates relating to such financing over a five-year term;expectations regarding accretion to FFO; and our ability to obtain an investment grade credit rating. Forward looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many ofwhich are beyond Dream Industrial REIT’s control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are notlimited to, global and local economic and business conditions; mortgage and interest rates and regulations; the uncertainty around the timing and amount of future financings; uncertainties surrounding the COVID-19 impact on theeconomic, financial, and real estate market; the risk that the actual accretion to FFO as described may differ from what is estimated; the financial condition of tenants; leasing risks, including those associated with the ability to leasevacant space; our ability to refinance or repay maturing debt; our ability to execute our strategic plans and meet financial obligations; risks associated with our anticipated real estate operations and investment holdings in general,including environmental risks, market risks, and risks associated with inflation; interest and currency rate fluctuations and other financial exposures. Our objectives and forward-looking statements are based on certain assumptions,including that the general economy remains stable; there are no unforeseen changes in the legislative and operating framework for our business will occur, including unforeseen changes to tax laws or governmental regulations inCanada, the U.S. or Europe; interest rates remain stable (including that interest rates in Europe remain below North American rates); conditions within the real estate market (including cap rates) remain consistent; our future level ofindebtedness and our future growth potential will remain consistent with our current expectations; the capital markets continue to provide ready access to equity and/or debt; and our hedging and debt strategies achieve theirintended goals. All forward-looking information in this investor presentation speaks as of the date of this investor presentation. Dream Industrial REIT does not undertake to update any such forward-looking information whether as aresult of new information, future events or otherwise except as required by law. Additional information about these assumptions and risks and uncertainties is contained in Dream Industrial REIT’s filings with securities regulators,including its latest annual information form andMD&A. These filings are also available at Dream Industrial REIT’swebsite at www.dreamindustrialreit.ca.

Non-GAAP MeasuresThe Trust’s condensed consolidated financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”). In this investor presentation, as a complement to results provided in accordance withIFRS, the Trust discloses and discusses certain non-GAAP financial measures, including leverage or level of debt (also known as net debt-to-assets ratio), net debt to adjusted EBITDAFV and unencumbered assets, as well as othermeasures discussed elsewhere in this investor presentation. These non-GAAP measures are not defined by IFRS, do not have a standardized meaning and may not be comparable with similar measures presented by other incometrusts. The Trust has presented such non-GAAP measures as Management believes they are relevant measures of the Trust’s underlying operating and financial performance. Non-GAAP measures should not be considered asalternatives to net income, net rental income, cash flows generated from (utilized in) operating activities, cash and cash equivalents, total assets, non-current debt, total equity, or comparable metrics determined in accordance withIFRS as indicators of the Trust’s performance, liquidity, cash flow, and profitability. For a full description of these measures and, where applicable, a reconciliation to the most directly comparable measure calculated in accordancewith IFRS, please refer to the “Non-GAAP Measures and Other Disclosures” in Dream Industrial REIT’s MD&A for the quarter ended June 30th, 2020 and within this investor presentation.