Crystallizing Value Creation & Market Overview
REALTY INCOME
Stable and Predictable Cash Flows Supported by High-Quality Real Estate Portfolio
0
Industry-Leading Occupancy Levels,
Consistent During Various Economic Cycles
S&P 500 REIT
O Median
---S&P 500 REIT Median (1)
CONSISTENCY BY DESIGN:
99.5%
98.4%
98.2%
97.7%
97.7%
98.1% 97.9%
98.5% 98.7%
97.9%
98.2% 98.4% 98.4% 98.3% 98.4% 98.6% 98.6% 97.9%
98.8%
*97.0% 96.8%
96.6%
96.7% 97.2%
98.2%
Careful underwriting at acquisition
Long initial lease term
93.8%
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q3
2021
MAXIMIZING REAL ESTATE VALUE:
Strategic management of rollovers
Proactively addressing portfolio "watch list"
Resolved over 3,800 lease expirations since 1996
Weighted average lease
term of 8.8 years
Strong underlying real estate quality
Strategy of owning "mission critical" locations
Diversified client industries with strong fundamentals
Prudent disposition activity
Manageable Lease Expiration Schedule
Provides High Visibility into Future Cash Flows
6.3%
7.0%
8.0%
3.5%
5.1%
5.5%
5.7%
7.4%
5.0%
0.6%
2021
(1) Includes 22 S&P 500 constituents, excluding non-property REITs, such as AMT, CCI, EQIX, IRM, SBAC, WY.
Occupancy calculated by number of properties. Lease expiration schedule represents percentage of total portfolio annualized contractual rent.
45.9%
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031-2046
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