Growing International Portfolio

Curating Best-in-Class Portfolio Through Thoughtful Investment Process Supported by Proprietary Data From Over 13,100 Properties $31.2 BILLION YTD 2023 SOURCED OPPORTUNITIES REALTY INCOME RESEARCH AND STRATEGY REVIEW OF REAL ESTATE FUNDAMENTALS ANALYSIS OF CLIENT FINANCIAL STRENGTH INVESTMENT COMMITTEE DISCUSSION AND DECISION SELECTIVITY: ~ 15% Strategic Objectives: Identify "Mega Trends" • Research Geographies, Industries and Prospective Clients "Big Data" Analysis of New and Existing Industries • Construct Optimal Portfolio Considerations Include: • Market & Location Surrounding Demographics • Traffic Counts, Access & Signage · • Rent Relative to Market Price vs Replacement Cost Lease Term & Rent Escalators Alternative Use and Fungibility IRR Scenario Analysis Key Insights: • • • Long-Term Industry Trends Competitive Landscape Corporate Financial Profile ⚫ Client's Long-Term Growth Strategy • Store-Level Performance ESG Metrics Discussion Points: . • Fit in Portfolio and Company Strategy Consideration of Overall Opportunity Pricing and Other Deal Terms Investment Spreads and Long-Term IRR vs Long- Term WACC $4.8 BILLION YTD 2023 ACQUISITIONS VOLUME 35

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