Superior Stability and Dividend Growth

REALTY INCOME Investing in Realty Income = Diversified Credit Exposure to Best-in-Class Operators Realty Income dividend yield is superior to 10-year bond yields of its underlying clients Investing in Realty Income vs investing in individual bonds of top clients (1) GROCERY STORES CONVENIENCE STORES DOLLAR STORES RESTAURANTS - QUICK SERVICE - Yum! PREMIUM YIELD WITH BOND-LIKE SAFETY GUARANTEED BY INVESTMENT GRADE CREDITS Walgreens 7-ELEVEN. DOLLAR GENERAL Kroger Kroger Walmart TESCO --- 7-ELEVEN. CIRCLE K TM DIVERSIFICATION INCOME GROWTH POTENTIAL 25+ YEAR HISTORY OF INCREASING INCOME YIELD PRODUCING 4.3% (2) ✓ ✓ × × DOLLAR TREE DOLLAR GENERAL × TM 3.5%(3) 4.1% (3) 3.6% (3) 3.8% (3) (1) The sample size represents Realty Income's clients from top four industries that have 10-year public unsecured debt outstanding. (2) Represents dividend yield as of 3/31/2022. (3) Weighted average (by rent) ~10-year unsecured bond yields for each industry. As of 3/31/2022. 41

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