VICI Investor Presentation

LAS VEGAS LAND PROVIDES OPPORTUNITY FOR FURTHER GROWTH Pro forma for the Las Vegas Land Acquisition, VICI will control and have full use of ~50 acres adjacent to the Las Vegas Strip Treasure Island Caesars Palace Bellagio ARIA UNRIVALED OPPORTUNITY TO DEEPEN THE STRIP AT ITS CENTER VICI The Mirage The Cosmopolitan The Shops at Crystals The Palazzo The Venetian Harrah's The LINQ HOOFSTOTE Flamingo Bally's Paris Planet Hollywood Denotes VICI's ROFR properties. (2) Denotes VICI's total Las Vegas Strip land holdings pro forma for the Las Vegas Land Acquisition. MSG Sphere Las Vegas Land Acquisition (~23 acres) (¹) VICI-owned 27 acres of land that is currently under the Regional Master Lease strategically located adjacent to The LINQ and behind Planet Hollywood VICI has a Put/Call Option on the Caesars Forum Convention Center land (~28 acres)(2) VICI-owned 7 acres of Strip frontage property at Caesars Palace; part of the Las Vegas Master Lease and available for redevelopment MSG Sphere: $1.7 billion development project Las Vegas Monorail, a key thoroughfare for Las Vegas visitors, connects Caesars Forum to the Las Vegas Convention Center and also serves the entire west flank of the VICI land parcel Note: Map is illustrative and may not be shown exactly to scale. (1) The Las Vegas Land Acquisition, announced on June 15, 2020, remains cross-conditioned on the consummation of the Caesars Forum Mortgage Loan and subject to, among other things, the completion of due diligence and negotiation of definitive documentation. (2) Please refer to page 26 for a summary of terms and conditions of VICI's existing put/call and ROFR agreements. 14

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