Vici Investor Presentation

MISSION CRITICALITY OF REAL ESTATE VICI'S ASSETS HAVE HIGH BARRIERS-TO-ENTRY & HIGH TRANSPARENCY COMPARED TO TRADITIONAL NET LEASE REITS VICI Occupant Business Model Underlying Asset Transparency Barrier-to-Entry Average Rent Per Asset The late Type of Real Estate Lease Term EKE 2020 Rent Collection CASINO Cash Flow Volatility JACK CASING Long-Term CPI Protected Rent Roll Same Store Rent Growth VICI Experiential / Operational / Revenue Diversity High - Gaming regulators require gross gaming revenue reporting from assets High ~$60,000,000 Differentiated, Non-Commoditized 43 years 100% Low (None to Date) 96% (2) 1.8% (³) Select Triple Net Lease REITs (¹) Generally Conventional Goods and Services Low Low ~$400,000 Highly Commoditized 9-13 years 70 - 99% Low ~16-85% 0.4% (4) Source: Respective company filings, Green Street Advisors (1) Based on Net Lease REIT universe covered by Green Street Advisors (NNN, O, SRC, STOR, and WPC). (2) Represents % of contractual rent subject to CPI-linked escalators over the long-term. (3) Reflects minimum annual contractual rent escalation as of August 2022. (4) Reflects same-property NOI growth per Green Street Advisors report as of December 11, 2021. 7

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