Investor Presentaiton
ADDED SIZE AND SCALE POSITIONS VICI AS ONE OF THE LARGEST REITS
VICI WAS ADDED TO THE S&P 500 INDEX ON JUNE 8, 2022
One of the Top 10 "Four-Wall" REITS
by LTM Q1'22 Adj. EBITDA ($mm) (1)
One of the Largest Triple Net Lease REITS
by LTM Q1'22 Adj. EBITDA ($mm) (1)
Among the Premier "Four-Wall" REITS
by Enterprise Value ($Bn) (4)
PLD
$115
SPG
PLD
EQIX
$3,171
0 (2)
$2,905
PSA
$2,739
VICI (3)
$2,572
GLPI
DLR
$2,399
STOR
$730
WELL
$1,957
VTR
$1,734
BXP
$1,651
SRC
MPW
$1,544
$592
ARE
$1,602
EPR
$452
EQR
$1,505
AVB
$1,435
BNL
$319
INVH
$1,208
EPRT
$226
WPC
$1,186
GLPI
$1,123
FCPT
$157
PEAK
$1,092
ESS
$1,090
$5,619
0(2)
$2,905
EQIX
$77
$4,750
PSA
$70
VICI (3)
$2,572
SPG
$64
О
$58
WPC
$1,186
DLR
$57
WELL
$57
VICI
$45
$1,123
ARE
$41
EQR
$39
AVB
$37
VTR
$36
NNN
$662
BXP
$33
INVH
$31
EXR
$31
SUI
$27
MAA
$26
ESS
$25
DRE
$24
PEAK
$23
WPC
$23
UDR
$22
KIM
$22
MPW
$21
HST
$20
GLPI
NTST
$46
$19
S&P 500 Constituent
VICI
Sources: Public filings and Capital IQ. We have not independently verified this data (other than data in respect of VICI) and are presenting it in accordance with each company's respective public disclosure. For additional
information, refer to the financial information included in the respective company's public filings with the SEC or the sources identified in the respective footnote. "Four-Wall" REITS excludes tower and timber REITs.
(1) Other companies may calculate Adj. EBITDA differently from VICI and each other and, accordingly, VICI's Adj. EBITDA may not be comparable to Adj. EBITDA reported by such other companies. See "Reconciliation from GAAP to
Non-GAAP Measures" in the appendix for additional information, including the definition and reconciliation to the most comparable GAAP financial measures. (2) Q1'22 Annualized Adjusted EBITDAre as publicly disclosed by Realty
Income to reflect the November 2021 acquisition of VEREIT. (3) LTM Q1 2022 Adj. EBITDA pro forma for the rent attributable to the acquisition of the Venetian Resort from April 1, 2021 - February 23, 2022, the closing date of such
acquisition, and the impact of the MGP acquisition, which closed subsequent to quarter end on April 29, 2022, including $1,009mm of LTM Q1 2022 Adj. EBITDA attributable to MGP (adjusted to include rent attributable to MGP's
acquisition of MGM Springfield from April 1, 2021 - October 29, 2021, the date of such acquisition) and $12mm of expected G&A synergies. (4) As of May 27, 2022.
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