Curating Best-in-Class Portfolio

REALTY Italy: Investment of Metro Wholesale Club Portfolio Marks Entry to 4th International Country INCOME Metro Wholesale Club Attractive portfolio in new geography. Realty Income purchased a portfolio of seven wholesale clubs operated by Metro Group for $166.6 million, located across Italy in major cities like Rome and Florence. Metro began operations at these locations between 1972 and 2005, indicating Metro's durable long-term tenancy and successful operations. • Strong and resilient operator. Metro Group (ETR: B4B) is an international leader in the wholesale club format that operates nearly 700 stores across Europe and in 34 countries globally. Metro commands a 26% market share in the Italian wholesale club industry and is investment grade rated. During the COVID-19 pandemic sales dropped only ~5%. Benefits of size and scale. Metro represents 3.6% of rent from the international portfolio and approximately 0.5% of Realty Income's overall portfolio. New avenue for growth. Italy is the third largest country in the European Union, and Realty Income sees additional opportunities to expand there in alignment with our investment criteria. 1833 METRO METRO METRO METH 40 40

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