Gaming Property Investment Overview

Talented, Best In Class Management Team Peter Carlino - Chief Executive Officer and Chairman of the Board - 2018 Inducted into the Gaming Hall of Fame in 2018, Carlino was honored for his 30-year record as an industry visionary and for his accomplishments in driving racetrack and casino owner Penn National Gaming's consistent growth from a single racetrack to what is today the nation's largest regional gaming operator and subsequently creating and leading the nation's first gaming REIT 2016 - Gaming & Leisure Properties acquired the real estate of Pinnacle Entertainment in a complex transaction 2013 Oversaw the creation of the first gaming REIT, named CEO & Chairman of GLPI 2011 - Penn National acquired M Resort Las Vegas 2010 - Fulfilled nearly 30-year quest for passage of gaming in Pennsylvania 2009 2007 2005 2004 2003 1997 - - Penn National played a leading role in amending the Ohio State Constitution, resulting in two new casino properties and eventually two racinos Penn National was honored for appearing a record six consecutive years on Fortune Magazine's list of "100 Fastest Growing Companies" Acquired Argosy Gaming Company, again nearly doubling the size of the Company Named "Best Performing CEO" by HVS Executive Search based on prior year performance relative to his peers for corporate financial growth and decision-making methodology Acquired Hollywood Casino Corporation, which doubled the size of the Company at the time Led the charge for the successful passage of slot machine gaming at Charles Town Races in West Virginia after two unsuccessful attempts by previous owners 1972-1974, 1974-1994 Served first as President of Mountainview Thoroughbred Racing Association, predecessor to Penn National Gaming Matthew Demchyk, CFA - SVP, Chief Investment Officer 2021 2019 - Current Serves as GLPI's SVP, Chief Investment Officer 2020 Served as GLPI's SVP, Investments 2009 2019 Served as Portfolio Manager of Real Estate Securities at Millennium Partners with oversight and capital allocation responsibilities for a market neutral portfolio of REIT securities 2008 2009 Served as the REIT Sector Analyst at Carlson Capital 2004 - 2008 Served as Assistant Portfolio Manager at CenterSquare Investment Management, an institutional real estate management platform with a long only REIT dedicated securities platform Education: BS, Finance, Summa Cum Laude, Villanova University 2003 21

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