#1VICI Chelsea Piers New York Transaction Overview December 19, 2023 INVEST IN THE EXPERIENCE EN FAISA நீருண்ஜமுப் 529 Shad AL 100 252789#2DISCLAIMERS Forward Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words "assumes," "believes," "estimates," "expects," "guidance," "intends," "plans," "projects," and similar expressions that do not relate to historical matters. All statements other than statements of historical fact are forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors which are, in some cases, beyond the control of VICI Properties Inc. and its subsidiaries (collectively, the "Company" or "VICI") and could materially affect actual results, performance, or achievements. Among those risks, uncertainties and other factors are the risks that the Company may not achieve the benefits contemplated by our pending and recently completed transactions and acquisitions of real estate assets, including the transactions described herein; risks that not all potential risks and liabilities have been, or will be, identified in the Company's due diligence for our pending and recently completed transactions, including the transactions described herein; the historical financial and operating results of Chelsea Piers may not be a reliable indicator of their future results; and the effects of our recently completed and pending transactions and the pending transactions, including the transactions described herein, on us, including the future impact on our financial condition, financial and operating results, cash flows, strategy and plans. Additional important factors that may affect the Company's business, results of operations and financial position are described from time to time in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, Quarterly Reports on Form 10-Q and the Company's other filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required by applicable law. Chelsea Piers Information The Company makes no representation as to the accuracy or completeness of the information regarding Chelsea Piers included in this presentation. While we believe this information to be reliable, we have not independently investigated or verified such data. Market and Industry Data and Trademark Information This presentation contains estimates and information concerning the Company's or Chelsea Piers' industry, including market position and other information regarding the properties, that are based on industry publications, reports and peer company public filings. This information involves a number of assumptions and limitations, and you are cautioned not to rely on or give undue weight to this information. The Company has not independently verified the accuracy or completeness of the data contained in these industry publications, reports or filings. The industry in which the Company operates is subject to a high degree of uncertainty and risk due to variety of factors, including those described in the "Risk Factors" section of the Company's public filings with the SEC. The brands operated at our properties are trademarks of their respective owners. None of these owners nor any of their respective officers, directors, agents or employees have approved any disclosure contained in this presentation or are responsible or liable for the content of this presentation. Published on December 19, 2023. OVICI. All rights reserved. No part of this publication may be reproduced, distributed or transmitted in any form or by any means, including without limitation photocopying, recording or any other electronic or mechanical methods, without the express written permission of VICI. VICI 2#3TRANSACTION OVERVIEW VICI acquired the leasehold interest of Chelsea Piers in New York City ("Chelsea Piers") and subleased Chelsea Piers back to affiliates of the Chelsea Piers operating company pursuant to a triple-net master lease (the "Chelsea Piers Transaction") Summary Terms Term Contractual Rent Escalation Guarantors Capex Requirements Initial lease term of 32 years with the intent to extend the prime lease term for an additional 10-years provided all conditions to such extension have been met VICI 1.25% in lease year 3; 1.50% thereafter Chelsea Piers Management Inc., Silver Screen LLC, North River Property LLC and Waterfront Services LLC 2.0% of total revenues on a 5-year rolling average In connection with this transaction, VICI's $71.5mm outstanding loan facility secured by Chelsea Piers was repaid and terminated in full Pier 61 www. Pier 60 Headhouse Pier 59 3#4STRATEGIC RATIONALE One-of-a-Kind Sports & Entertainment Complex in New York City Aligning with VICI's Investment Thesis Comprised of over 780,000 square feet on 28 acres between 17th and 23rd streets alongside Manhattan's Hudson River, Chelsea Piers is a one-of-a- kind experiential asset in one of the world's most dynamic cities. Its size, scale, complexity and highly diverse programming represent a singular source of supply for meeting New Yorkers' demand for recreational and leisure experiences Resilient Business Model with Successful Historical Track Record Opened in 1995, Chelsea Piers' resilient business model has a track record of recovering quickly from financial (e.g., 2008 financial crisis), civil (e.g., 9/11), natural (e.g., Hurricane Sandy) and health (e.g., COVID-19 pandemic) crises while maintaining a consistent margin profile Multifaceted Business with Diverse Revenue Drivers Chelsea Piers features dedicated space for 20+ sports and activities, three flexible and expansive event spaces, a marina and approximately 300,000 sq. ft. of high value, commercial space that is primarily utilized for highly coveted production studios Demonstrates Ability to Convert a Financing Partnership into Long-Term Real Estate Ownership The Chelsea Piers transaction represents the first conversion of an existing loan into real estate ownership for VICI, demonstrating the strategic nature of VICI's loan commitments VICI 4#5CHELSEA PIERS MEETS EACH OF VICI'S INVESTMENT CRITERIA X (1) Per IBIS World.. VICI ooo Low Cyclicality Favorable Supply / Demand Balance CHELSEA PIERS NEW YORK EST. NY 1995 Low Secular Threat Experiential Durability & Longevity 10 ini 610 Low Cyclicality • The recreational sports industry has demonstrated long-term durability driven by wide appeal to adults and children across demographic groups • Chelsea Piers' leasing business has experienced an average vacancy rate of nearly 0% over the past 25 years During recessionary periods, the recreational sports industry benefits from resilient demand as consumers, specifically parents, look to cut costs in other areas of spending before trimming back spending on their children Low Secular Threat • The core Chelsea Piers experience is a combination of socialization and sports / active recreation, which cannot be digitized or disrupted ● · Despite the expansion of technology in daily lives since the dot-com boom, total sports participation has steadily increased from 16.4% in 2000 to 20.1% in 2022(1) Experiential Durability & Longevity • Durable business model with a track record of recovering quickly from financial (e.g., 2008 financial crisis), civil (e.g., 9/11), natural (e.g., Hurricane Sandy) and health (e.g., COVID-19 pandemic) crises while achieving consistent EBITDA margins Subscription and membership pricing model provides a large, stable source of recurring revenue resulting from a loyal customer base Favorable Supply / Demand Balance • There are significant barriers to entry in the recreational sports sector in New York City, especially at the size and scale of Chelsea Piers • Chelsea Piers has the only recreational ice hockey rinks in New York City and has indoor sport, pool and film production facilities in an otherwise supply- constrained market LO 5#6CHELSEA PIERS SPORTS & RECREATION 4+ million annual visitors to Chelsea Piers Instructional programs and sports leagues for all ages across 20+ sports including the largest adult indoor soccer and basketball leagues in Manhattan Over 17 million golf balls hit annually across 52 stalls at The Golf Club at Chelsea Piers Largest gymnastics facilities in Manhattan The only year-round indoor hockey and figure skating rinks in Manhattan Manhattan's only indoor sand volleyball court 180+ weekly fitness classes for Chelsea Piers Fitness members VICI HII w 212 245000 Lenor till 建 6#7CHELSEA PIERS LEASING & HOSPITALITY Four banquet halls with waterfront views and capacity of up to 2,000 guests Over 600 annual events hosted at Chelsea Piers 1.2 miles of waterfront marina space Largest commercial and private boat marina in New York City with 80 boat slips and 2,000 linear feet of cruise ship docking space Near 0% vacancy rate among Chelsea Piers' leasing business Bowlero-operated bowling entertainment center, which is one of the most profitable within Bowlero's portfolio LMOR WON One of few facilities to offer full-service production studios and facilities in Manhattan BOWLMOR AMMON VICI BOWLMOR -LANES- BOWLHOR BOVINOS ROMER BOWLMOR LANES XOX хо Eter USD backackal 7#8102 IM 7 UNEORI refresh Call your game Capital Bank PROTECT THIS HOUSE HIWILL Non-Stop Daily HAWAIIAN RIRLINES