Crystallizing Value Creation & Market Overview

Superior Stability vs S&P 500 REITs: Favorable Occupancy, Dividend Growth, Credit Rating and Total Return PORTFOLIO OCCUPANCY DIVIDEND GROWTH(1) 98.4% 96.6% 94.0% Historical Median 91.3% 0% 10% 4.3% (2) 2.9% % of Years w/ Negative Growth Dividend CAGR Lowest Year-End REALTY INCOME AVG. CREDIT RATING (S&P/MOODY'S) A/A2 A-/ A3 BBB+ / Baa1 BBB / Baa2 BBB-/Baa3 Source: SNL, Bloomberg | Excludes specialty REITS (i.e., infrastructure, timber, information services). (1) Since 1995. Excludes REITs with fewer years of history than Realty Income. (2) As of October 2021 dividend declaration. S&P 500 REIT Median 9 8 7 6 5 4 3 2 1 0 # OF YEARS WITH TSR < -10% (1) REALTY INCOME 16

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