Vici Investor Presentation

INDUSTRY-LEADING CPI PROTECTION STRENGTHENS OVER TIME ESTIMATED CPI PROTECTION AS % OF VICI'S RENT ROLL OVER TIME (¹) ✓ Reflects new leases for which CPI-linked escalation commences in each given year 47% Caesars Regional Master Lease • Caesars Las Vegas Master Lease 2022E VICI 53% ✓ Venetian Resort Lease (3% cap) Century Casinos Master Lease ✓Hard Rock Cincinnati Lease • Caesars Regional Master Lease • Caesars Las Vegas Master Lease 2023E ✓ ● 56% • Venetian Resort Lease (3% cap) Century Casinos Master Lease Hard Rock Cincinnati Lease • Caesars Regional Master Lease • Caesars Las Vegas Master Lease ● JACK Master Lease (2.5% cap) Caesars Southern Indiana Lease 2026E 90% MGM Resorts Master Lease (3% cap) • JACK Master Lease (2.5% cap) Caesars Southern Indiana Lease • Venetian Resort Lease (3% cap) Century Casinos Master Lease • Hard Rock Cincinnati Lease • Caesars Regional Master Lease Caesars Las Vegas Master Lease 2032E 96% MGM Grand / Mandalay Bay BREIT JV Lease (3% cap) • MGM Resorts Master Lease (3% cap) JACK Master Lease (2.5% cap) Caesars Southern Indiana Lease • Venetian Resort Lease (3% cap) Century Casinos Master Lease Hard Rock Cincinnati Lease • Caesars Regional Master Lease • Caesars Las Vegas Master Lease ● 2035E 47% VICI's rent roll with CPI-linked escalation for 2022E 96% VICI's rent roll with CPI-linked escalation by 2035E ~2% VICI's G&A as a % of Revenue on a Q2'22 LTM Basis Lowest Exposure to G&A Costs Among Select Triple Net Lease REITS (²) Source: Respective company filings (1) Percentage of rent roll reflects rent inclusive of minimum contractual rent escalation pursuant to current lease agreements. (2) Based on FY 2021 and Q2'22 company filings for ADC, EPR, FCPT, GLPI, NNN, O, SRC, STOR, and WPC. 8

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