Curating Best-in-Class Portfolio

REALTY INCOME Earnings Growth Remains Strong As Size of Portfolio Continues to Increase AFFO/SH GROWTH: HISTORICAL 5% MEDIAN(3) • Stronger historical growth rate vs. REITS (4.2%) (1) Positive earnings growth in 26 of 27 years Modest annual downside volatility of 2.7% (2) CAGR 5% SINCE 1995 20% 15% 10% 5% ANNUAL AFFO/sh(3) Growth سلسل: 0% 6% 5% 4% 3% 2% 1% 0% 17.0%(4) Large portfolio transactions create upside "lumpiness"... 9.2% (4) 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 ...which supports outsized blended growth over time AFFO/sh CAGR Benchmarked to 1995 5.1% 5.2% 5.3% 5.3% 5.3% 5.3% 5.2% 5.1% 5.1% 5.3% 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 . Proven track record of maintaining 5%+ earnings CAGR since listing regardless of size $45,000 • In 2012, portfolio GREAV was < $6B and earnings CAGR was 4.5% $30,000 . Earnings growth has accelerated as portfolio real estate value crossed $10B: $15,000 $565 GROSS RE BOOK VALUE Cost at year end(4)(5) $42,657 • 6.6% AFFO/sh CAGR since 2012 $0 r 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 (1) Median FFO | Represents all REITs currently included in MSCI REIT Index with earnings history since 2000 | Source: SNL. (2) Volatility of earnings growth, where positive year-over-year growth is replaced with "O". (3) Excludes positive earnings from Crest Net Lease, a subsidiary of Realty Income, as earnings do not reflect recurring business operations. (4) $3.2 billion ARCT acquisition was completed in January 2013. Merger transaction with VEREIT was completed in November 2021. (5) Gross real estate book value reflects historical year end real estate held for investment, at cost (in millions) 20 20

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