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Investor Presentaiton

PROVEN INVESTMENT APPROACH Long-Standing Diversified Strategy Provides Acquisition Flexibility from Year to Year Without Dramatically Influencing Overall Portfolio Concentration Volume ($mm) $1,032 448 SHOP Industrial Guidance $500 Range: $500 $907 $645 $655 $318 $550 $179 $519 $65 $69 $684 $206 $147 $607 $183 $859 لباس $142 Healthcare Restaurant Retail Office $207 $136 $174 $60 $300 Other $22 $80 $90 $27 $1 $112 $128 $100 $6 $3 $233 $175 $35 $64 $166 $77 $125 $71 $92 $65 $20 $13 $5 $15 2015 2016 2017 2018 2019 2020 2021 2022 2023E % of GAV1 Acquisitions Cap Rate² 60.9% 35.8% 35.3% 23.5% 32.8% 2.5% 16.2% 19.8% 7.4%³ 6.9% 6.8% 7.2% 6.9% 6.6% 6.9% 6.3% 6.4% TBD As of March 31, 2023 1% of previous year end, Gross asset value "GAV" means undepreciated book value, which represents the fair value of the assets as of the date acquired, less any subsequent write-downs due to impairment charges 2 Represents the estimated first year cash yield, calculated as specified cash base rent for the first full year after investment divided by property purchase price 3 Represents midpoint of investment guidance as a % of the 2023E midpoint of GAV. 2023E based on guidance of $300mm - $500mm of investments. BROADSTONE NET LEASE, INC. 15 INVESTOR PRESENTATION | MAY 2023
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