Realty Income Pitch Deck

Drug Stores (6.2% of ABR) Bundled service partnerships and vertical integration among incumbents insulates industry from outside threats. Both Walgreens and CVS are investing in improved customer experience(2). Walgreens plans to open 1,000 full-service doctor offices by the end of 2027(2). CVS currently operates over 1,000 Health HUB locations (1) Source: (1) CVS filings. (2) Company Documents. (3) Company Filings as reported by IQVIA. (4) Company Filings | Latest reported quarter. Walgreens PHOTO 80% Of the scope of a typical primary care physician treatable at an on-site clinic(1). 85% Of the US population lives within 3 miles of a Walgreens or CVS(2). ~50% 3013 ετόν Combined retail prescription market share of Walgreens and CVS (3). 9.7% 9.3% REALTY INCOME Walgreens: 37 of 38 Quarters of Positive Same-Store Pharmacy Sales Growth (4). 7.4% 7.2% 6.0% 6.0% 5.8% 5.8% 5.6% 2.0% 2.8% 1014 2014 3014 4Q14 1015 2015 3.7% 3015 4Q15 1016 2016 3016 4Q16 1017 2017 3Q17 4Q17 1018 2.0% 0.0% 2018 3Q18 4Q18 στοτ 8.9% 8.4% 7.3% 6.8% 5.0% 3.5% 4.5% 3.2% 2.5% 2.0% 1.9% 2019 3019 4019 1020 2Q20 3020 4Q20 1021 2021 3Q21 4Q21 1Q22 2022 3022 -0.1% 4q22 56

View entire presentation