Capital Investment Case Studies

Balance Sheet Overview W. P. CAREY Capitalization ($MM) (1) Total Equity (2) Pro Rata Net Debt Senior Unsecured Notes USD 6/30/23 Capitalization (%) $14,451 5% 7% 2,900 Equity (2) Senior Unsecured Notes EUR 3,124 Senior Unsecured Notes Mortgage Debt, pro rata USD 661 62% Unsecured Revolving Credit Facility / Mortgage Debt, pro rata (EUR $345/ Other $85) 430 Term Loans 26% Unsecured Revolving Credit Facility USD 110 Mortgage Debt (pro rata) Unsecured Revolving Credit Facility (EUR $402 / Other $17) 419 Unsecured Term Loans (EUR $777 / GBP $342) 1,119 Total Pro Rata Debt $8,763 Balance Sheet Highlights Less: Cash and Cash Equivalents (204) Total Pro Rata Net Debt Enterprise Value $8,559 $23,010 $23,214 Size: Large, well-capitalized balance sheet with $23.0B in total enterprise value Liquidity: Ample liquidity of $1.9B at quarter end, including $384MM of forward equity Credit Rating: Upgraded to Baa1 (stable) by Moody's and BBB+ (stable) by S&P in September 2022 and January 2023, respectively Total Capitalization Leverage Metrics Pro Rata Net Debt / Adjusted EBITDA (3)(4) Pro Rata Net Debt / Enterprise Value (2)(3) Total Consolidated Debt / Gross Assets (5) Weighted Average Interest Rate (pro rata) Weighted Average Debt Maturity (pro rata) 1. Amounts may not sum to totals due to rounding. 5.7x 37.2% 41.3% 3.3% Leverage: Maintain conservative leverage targets (mid-to-high 5s Net Debt to EBITDA) Capital Markets: Demonstrated strong access to capital markets - Term Loan: €500MM term loan swapped to 4.34% due April 2026 in April 2023 - ATM: $104MM of forward equity issued year-to-date Private Placement: €150MM of 3.41% Senior Unsecured Notes due 2029 and €200MM of 3.70% Senior Unsecured Notes due 2032 issued in September 2022 3.9 years Green Bonds: $350MM, 2.45% Notes due 2032 issued in 2021 2. Based on a closing stock price of $67.56 on June 30, 2023 and 213,901,170 common shares outstanding as of June 30, 2023. 3. Pro rata net debt to enterprise value and pro rata net debt to Adjusted EBITDA are based on pro rata debt less consolidated cash and cash equivalents. 4. Adjusted EBITDA represents 2Q23 annualized Adjusted EBITDA, as reported in the Form 8-K filed with the SEC on July 28, 2023. 5. Gross assets represent consolidated total assets before accumulated depreciation on real estate. Gross assets are net of accumulated amortization on in-place lease and above-market rent intangible assets. 19

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