Investor Presentaiton

MISSION CRITICALITY OF REAL ESTATE VICI'S ASSETS HAVE HIGH BARRIERS-TO-ENTRY & HIGH TRANSPARENCY COMPARED TO TRADITIONAL NET LEASE REITS VICI Select Triple Net Lease REITs (1) Occupant Business Model Experiential/Operational / Revenue Diversity Generally Conventional Goods and Services Underlying Asset Transparency High - Gaming regulators require gross gaming revenue reporting from assets Low Barrier-to-Entry Average Rent Per Asset Type of Real Estate Lease Term 2020 Rent Collection CASINO High ~$60,000,000 Low ~$400,000 Differentiated, Non-Commoditized Highly Commoditized 43 years 100% 9-13 years 70-99% Cash Flow Volatility JACK C Long-Term CPI Protected Rent Roll Low (None to Date) 96%(2) Low ~16-85% Same Store Rent Growth VICI Source: Respective company filings, Green Street Advisors 1.8%(3) 0.4%(4) (1) Based on Net Lease REIT universe covered by Green Street Advisors (NNN, O, SRC, STOR, and WPC). (2) Represents % of contractual rent subject to CPI-linked escalators over the long-term. (3) Reflects minimum annual contractual rent escalation as of May 2022. (4) Reflects same-property NOI growth per Green Street Advisors report as of December 11, 2021. 7

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