SUPPLEMENTAL OPERATING & FINANCIAL DATA Q2 2021 An S&P 500 company S&P 500 Dividend Aristocrats® index member Exhibit 99.2

Q2 2021 Supplemental Operating & Financial Data 2 Table of Contents Corporate Overview 3 Rent Collections Update 4 Rental Revenue Reserves 5 Financial Summary Consolidated Statements of Income 6 Funds From Operations (FFO) and Normalized Funds From Operations (Normalized FFO) 7 Adjusted Funds From Operations (AFFO) 8 Consolidated Balance Sheets 9 Debt Summary 10 Debt Maturities 11 Capitalization & Financial Ratios 12 Adjusted EBITDAre & Coverage Ratios 13 Debt Covenants 14 Transaction Summary Investment Summary 15 Disposition Summary 16 Development Pipeline 17 Real Estate Portfolio Summary Client Diversification 18 Top 10 Industries 19 Industry Diversification 20 Geographic Diversification 22 Property Type Composition 24 Same Store Rental Revenue 25 Leasing Data Occupancy 27 Leasing Activity 28 Lease Expirations 29 2021 Earnings Guidance 30 Analyst Coverage 31 Glossary 32 This Supplemental Operating & Financial Data should be read in connection with the company's earnings press release for the three and six months ended June 30, 2021 (included as Exhibit 99.1 of the company's Current Report on Form 8-K, filed on August 2, 2021) as certain disclosures, definitions, and reconciliations in such announcement have not been included in this Supplemental Operating & Financial Data.

Q2 2021 Supplemental Operating & Financial Data 3 One Team Senior Management Neil M. Abraham, EVP, Chief Strategy Officer Michelle Bushore, EVP, Chief Legal Officer, General Counsel and Secretary Mark E. Hagan, EVP, Chief Investment Officer Christie B. Kelly, EVP, Chief Financial Officer and Treasurer Sumit Roy, President & Chief Executive Officer Credit Ratings Senior Unsecured Outlook Commercial Paper Moody’s A3 Stable P-2 Standard & Poor’s A- Stable A-2 Dividend Information as of July 2021 ▪ Current annualized dividend of $2.826 per share ▪ Compound average annual dividend growth rate of approximately 4.4% ▪ 613 consecutive monthly dividends declared ▪ 95 consecutive quarterly dividend increases Corporate Headquarters 11995 El Camino Real San Diego, California 92130 Phone: +1 (858) 284-5000 London Office 42 Brook St. London, United Kingdom W1K 5DB Phone: +44 (0)20 3931 6856 Website: www.realtyincome.com Corporate Overview June 30, 2021 Closing price $ 66.74 Shares and units outstanding 380,637,161 Market value of common equity $ 25,403,724,000 Total market capitalization $ 34,601,418,000 Transfer Agent Computershare Phone: (877) 218-2434 Website: www.computershare.com (1) Total portfolio annualized contractual rent is a supplemental operating measure. Please see the Glossary for our definition and an explanation of how we utilize this metric. (2) Total portfolio annualized contractual rent includes 3.6% of rent from all of our clients, inclusive of 1.9% from our theater clients that, as of June 30, 2021, did not meet our threshold for probability of collection. Corporate Profile Realty Income, The Monthly Dividend Company®, is an S&P 500 company and member of the S&P 500 Dividend Aristocrats® index. We invest in people and places to deliver dependable monthly dividends that increase over time. For over 52 years, we have been acquiring and managing freestanding commercial real estate that generates rental revenue under long-term net-lease agreements and supports our monthly dividend. Portfolio Overview At June 30, 2021, we owned a diversified portfolio of 6,761 properties located in all 50 U.S. states, Puerto Rico and the United Kingdom (U.K.), with approximately 118.3 million square feet of leasable space. Our properties are leased to approximately 630 different clients doing business in 58 separate industries. Approximately 84% of our total portfolio annualized contractual rent(1) was generated from retail properties, 12% from industrial properties, and the remaining 4% from other property types. Our physical occupancy as of June 30, 2021 was 98.5%, with a weighted average remaining lease term of approximately 8.8 years. Total portfolio annualized contractual rent on our leases as of June 30, 2021 was $1.79 billion(2). Common Stock Our common stock is traded on the New York Stock Exchange under the symbol "O“.

Q2 2021 Supplemental Operating & Financial Data 4 Rent Collections Update Percentages of Contractual Rent Collected as of June 30, 2021 (1) Collection rates are calculated as the aggregate contractual rent collected for the applicable period from the beginning of that applicable period through June 30, 2021, divided by the contractual rent charged for the applicable period. Rent collection percentages are calculated based on contractual rents (excluding percentage rents and contractually obligated reimbursements by our clients). Charged amounts have not been adjusted for any COVID-19 related rent relief granted and include contractual rents from any clients in bankruptcy. Due to differences in applicable foreign currency conversion rates and rent conventions, the percentages above may differ from percentages calculated utilizing our total portfolio annualized contractual rent. (2) We define our top 20 clients as our 20 largest clients based on percentage of total portfolio annualized contractual rent as of June 30, 2021 for all periods. (3) Please see the Glossary for our definition of investment grade clients. Month Ended April 30, 2021 Month Ended May 31, 2021 Month Ended June 30, 2021 Quarter Ended June 30, 2021 Contractual rent collected(1) across total portfolio 95.5% 95.5% 96.7% 95.9% Contractual rent collected(1) from our top 20 clients (2) 92.7% 92.7% 94.8% 93.4% Contractual rent collected(1) from our investment grade clients (3) 100.0% 100.0% 100.0% 100.0% Contractual rent collected from our theater clients 32.3% 31.5% 51.0% 38.3% Contractual rent collected from our health and fitness clients 94.8% 94.5% 93.9% 94.4% Unpaid Contractual Base Rent Summary(1) (in millions) January 1, 2020 - Percentage of June 30, 2021 Total Unpaid rent and rent deferred included in AFFO $ 101.7 65.8 % Reserves on contractual base rent (2) 51.5 33.3 Reduction of rental revenue from COVID-19 lease modifications and abatements (2) 1.4 0.9 Total unpaid rent $ 154.6 100 % (1) Contractual rents exclude percentage rents and contractually obligated reimbursements by our clients. (2) Reflects cumulative amounts for the year ended December 31, 2020 and the six months ended June 30, 2021.

Q2 2021 Supplemental Operating & Financial Data 5 Rental Revenue Reserves (1) Theater Industry Update As of June 30, 2021, the theater industry represented 5.4% of annualized contractual rental revenue. As of June 30, 2021, we were fully reserved for the outstanding receivable balances for 37 theater properties. At June 30, 2021, the receivables outstanding for our 79 theater properties totaled $77.9 million, net of $40.0 million of reserves, and includes $9.1 million of straight-line rent receivables, net of $2.0 million of reserves. At June 30, 2021, the receivables outstanding across the portfolio totaled $327.9 million, net of $60.0 million of reserves, and includes $195.9 million of straight-line rent receivable, net of $8.6 million of reserves. The following table summarizes reserves recorded as a reduction of rental revenue across the entire portfolio (dollars in millions): Three Months Ended Six Months Ended June 30, 2021 June 30, 2021 Rental revenue reserves Theater industry $ 6.5 $ 13.8 Other 1.0 2.0 Total rental revenue reserves $ 7.5 $ 15.8 Straight-line rent reserves Theater industry $ 0.1 $ 0.2 Other 0.6 1.0 Total straight-line rent reserves $ 0.7 $ 1.2 Total reserves Theater industry $ 6.6 $ 14.0 Other 1.6 3.0 Total reserves $ 8.2 $ 17.0 (1) Unless otherwise specified, references to reserves recorded as a reduction of rental revenue include amounts reserved for in the current period, as well as unrecognized contractual rental revenue and unrecognized straight-line rental revenue for leases accounted for on a cash basis.

Q2 2021 Supplemental Operating & Financial Data 6 (unaudited) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 REVENUE Rental (including reimbursable) (1) $ 460,256 $ 410,201 $ 899,621 $ 822,358 Other 4,026 4,435 7,465 6,619 Total revenue 464,282 414,636 907,086 828,977 EXPENSES Depreciation and amortization 187,789 168,328 365,774 332,913 Interest 73,674 77,841 146,749 153,766 Property (including reimbursable) 31,734 26,452 60,233 52,058 General and administrative 21,849 19,063 42,645 40,027 Provisions for impairment 17,246 13,869 19,966 18,347 Merger-related costs 13,298 — 13,298 — Total expenses 345,590 305,553 648,665 597,111 Gain on sales of real estate 14,901 1,323 23,302 39,829 Foreign currency and derivative gains (losses), net 400 502 1,204 (1,062) Loss on extinguishment of debt — — (46,473) (9,819) Income before income taxes 133,993 110,908 236,454 260,814 Income taxes (2) (9,225) (2,838) (15,450) (5,601) Net income 124,768 108,070 221,004 255,213 Net income attributable to noncontrolling interests (289) (246) (585) (562) Net income available to common stockholders $ 124,479 $ 107,824 $ 220,419 $ 254,651 Net income available to common stockholders per common share: Basic and diluted $ 0.33 $ 0.31 $ 0.59 $ 0.75 (1) Includes rental revenue (reimbursable) of $23,521 and $20,964 for the three months ended June 30, 2021 and June 30, 2020, respectively, and $45,199 and $41,330 for the six months ended June 30, 2021 and June 30, 2020, respectively. Unless otherwise specified, references to rental revenue in this document are exclusive of reimbursements from clients for recoverable real estate taxes and operating expenses. (2) For the three months ended June 30, 2021, we began presenting 'Income taxes,' which was previously presented in 'Expenses,' below a newly captioned subtotal for 'Income before income taxes' within our consolidated statements of income. Prior year amounts have been reclassified to conform to the current year presentation. Consolidated Statements of Income (dollars in thousands, except per share amounts)

Q2 2021 Supplemental Operating & Financial Data 7 FFO and Normalized FFO (1) (dollars in thousands, except per share amounts) The following is a reconciliation of net income available to common stockholders (which we believe is the most comparable GAAP measure) to FFO and Normalized FFO. Also presented is information regarding distributions paid to common stockholders and the weighted average number of common shares used for the basic and diluted FFO and Normalized FFO per share computations. Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net income available to common stockholders $ 124,479 $ 107,824 $ 220,419 $ 254,651 Depreciation and amortization 187,789 168,328 365,774 332,913 Depreciation of furniture, fixtures and equipment (73) (152) (444) (278) Provisions for impairment 17,246 13,869 19,966 18,347 Gain on sales of real estate (14,901) (1,323) (23,302) (39,829) FFO adjustments allocable to noncontrolling interests (165) (208) (331) (363) FFO available to common stockholders $ 314,375 $ 288,338 $ 582,082 $ 565,441 FFO allocable to dilutive noncontrolling interests 348 348 705 717 Diluted FFO $ 314,723 $ 288,686 $ 582,787 $ 566,158 FFO available to common stockholders $ 314,375 $ 288,338 $ 582,082 $ 565,441 Merger-related costs 13,298 — 13,298 — Normalized FFO available to common stockholders $ 327,673 $ 288,338 $ 595,380 $ 565,441 Normalized FFO allocable to dilutive noncontrolling interests 348 348 705 717 Diluted Normalized FFO $ 328,021 $ 288,686 $ 596,085 $ 566,158 FFO per common share, basic and diluted $ 0.84 $ 0.84 $ 1.56 $ 1.66 Normalized FFO per common share, basic and diluted $ 0.88 $ 0.84 $ 1.60 $ 1.66 Distributions paid to common stockholders $ 263,358 $ 240,470 $ 524,056 $ 474,294 FFO available to common stockholders in excess of distributions paid to common stockholders $ 51,017 $ 47,868 $ 58,026 $ 91,147 Normalized FFO available to common stockholders in excess of distributions paid to common stockholders $ 64,315 $ 47,868 $ 71,324 $ 91,147 Weighted average number of common shares used for FFO and Normalized FFO: Basic 374,236,424 343,515,406 372,879,165 340,061,487 Diluted 374,804,142 344,148,378 373,434,863 340,744,384 (1) FFO and Normalized FFO are non-GAAP financial measures. Please see the Glossary for our definitions of these terms and an explanation of how we utilize these metrics.

Q2 2021 Supplemental Operating & Financial Data 8 The following is a reconciliation of net income available to common stockholders (which we believe is the most comparable GAAP measure) to Normalized FFO and AFFO. Also presented is information regarding distributions paid to common stockholders and the weighted average number of common shares used for the basic and diluted AFFO per share computations. Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net income available to common stockholders (2) $ 124,479 $ 107,824 $ 220,419 $ 254,651 Cumulative adjustments to calculate Normalized FFO (3) 203,194 180,514 374,961 310,790 Normalized FFO available to common stockholders 327,673 288,338 595,380 565,441 Executive severance charge — — — 3,463 Loss on extinguishment of debt — — 46,473 9,819 Amortization of share-based compensation 4,472 4,882 8,169 8,624 Amortization of deferred financing costs 1,710 1,476 3,375 2,836 Amortization of net mortgage premiums (205) (356) (485) (710) Loss on interest rate swaps 724 1,306 1,446 1,992 Straight-line payments from cross-currency swaps 584 623 1,202 1,346 Leasing costs and commissions (121) (973) (827) (1,111) Recurring capital expenditures (27) (21) (50) (21) Straight-line rent (11,004) (6,242) (21,467) (14,024) Amortization of above and below-market leases, net 3,934 6,087 13,234 12,517 Other adjustments (93) 121 (581) 2,291 AFFO available to common stockholders $ 327,647 $ 295,241 $ 645,869 $ 592,463 AFFO allocable to dilutive noncontrolling interests 344 356 695 732 Diluted AFFO $ 327,991 $ 295,597 $ 646,564 $ 593,195 AFFO per common share, basic and diluted $ 0.88 $ 0.86 $ 1.73 $ 1.74 Distributions paid to common stockholders $ 263,358 $ 240,470 $ 524,056 $ 474,294 AFFO available to common stockholders in excess of distributions paid to common stockholders $ 64,289 $ 54,771 $ 121,813 $ 118,169 Weighted average number of common shares used for AFFO: Basic 374,236,424 343,515,406 372,879,165 340,061,487 Diluted 374,804,142 344,148,378 373,434,863 340,744,384 (1) AFFO is a non-GAAP financial measure. Please see the Glossary for our definition and an explanation of how we utilize this metric. (2) As of June 30, 2021, there was $40.5 million of uncollected rent deferred as a result of lease concessions we granted in response to the COVID-19 pandemic and recognized under the practical expedient provided by the Financial Accounting Standards Board (FASB) and $61.2 million of uncollected rent for which we have not granted a lease concession. (3) See reconciling items for Normalized FFO presented under "FFO and Normalized FFO." AFFO (1) (dollars in thousands, except per share amounts)

Q2 2021 Supplemental Operating & Financial Data 9 Consolidated Balance Sheets (dollars in thousands, except per share and share count data) (unaudited) June 30, 2021 December 31, 2020 ASSETS Real estate held for investment, at cost: Land $ 6,975,008 $ 6,318,926 Buildings and improvements 15,700,846 14,696,712 Total real estate held for investment, at cost 22,675,854 21,015,638 Less accumulated depreciation and amortization (3,775,540) (3,549,486) Real estate held for investment, net 18,900,314 17,466,152 Real estate and lease intangibles held for sale, net 39,540 19,004 Cash and cash equivalents 231,164 824,476 Accounts receivable, net 327,920 285,701 Lease intangible assets, net 1,969,793 1,710,655 Other assets, net 516,210 434,297 Total assets $ 21,984,941 $ 20,740,285 LIABILITIES AND EQUITY Distributions payable $ 90,455 $ 85,691 Accounts payable and accrued expenses 259,805 241,336 Lease intangible liabilities, net 319,495 321,198 Other liabilities 276,120 256,863 Line of credit payable and commercial paper 1,285,306 — Term loan, net 249,457 249,358 Mortgages payable, net 300,574 300,360 Notes payable, net 7,330,050 8,267,749 Total liabilities 10,111,262 9,722,555 Stockholders’ equity: Common stock and paid in capital, par value $0.01 per share, 740,200,000 shares authorized, 380,174,042 and 361,303,445 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively 15,827,231 14,700,050 Distributions in excess of net income (3,968,333) (3,659,933) Accumulated other comprehensive loss (19,366) (54,634) Total stockholders’ equity 11,839,532 10,985,483 Noncontrolling interests 34,147 32,247 Total equity 11,873,679 11,017,730 Total liabilities and equity $ 21,984,941 $ 20,740,285

Q2 2021 Supplemental Operating & Financial Data 10 Debt Summary (dollars in thousands) Maturity Date as of June 30, 2021 Principal Balance as of June 30, 2021 % of Debt Interest Rate as of June 30, 2021 Weighted Average Years Until Maturity Credit Facility and Commercial Paper (1) Credit Facility March 24, 2023 $ 635,306 6.9 % 0.84 % Commercial Paper July 8, 2021 650,000 7.1 % 0.25 % Carrying value 1,285,306 14.0 % 0.54 % (6) 0.9 years Unsecured Term Loan Term Loan (2) March 24, 2024 250,000 2.7 % 3.89 % 2.7 years Deferred financing costs (543) Carrying value 249,457 Senior Unsecured Notes and Bonds 4.650% Notes due 2023 August 1, 2023 750,000 8.2 % 4.65 % 3.875% Notes due 2024 July 15, 2024 350,000 3.8 % 3.88 % 3.875% Notes due 2025 April 15, 2025 500,000 5.4 % 3.88 % 0.750% Notes due 2026 March 15, 2026 325,000 3.5 % 0.75 % 4.125% Notes due 2026 October 15, 2026 650,000 7.1 % 4.13 % 3.000% Notes due 2027 January 15, 2027 600,000 6.5 % 3.00 % 3.650% Notes due 2028 January 15, 2028 550,000 6.0 % 3.65 % 3.250% Notes due 2029 June 15, 2029 500,000 5.4 % 3.25 % 1.625% Notes due 2030 December 15, 2030 552,440 (3) 6.0 % 1.63 % 3.250% Notes due 2031 January 15, 2031 950,000 10.4 % 3.25 % 1.800% Notes due 2033 March 15, 2033 400,000 4.3 % 1.80 % 2.730% Notes due 2034 May 20, 2034 435,047 (3) 4.7 % 2.73 % 5.875% Bonds due 2035 March 15, 2035 250,000 2.7 % 5.88 % 4.650% Notes due 2047 March 15, 2047 550,000 6.0 % 4.65 % Principal amount 7,362,487 80.0 % 3.40 % (6) 8.5 years Unamortized net premiums and deferred financing costs (32,437) Carrying value 7,330,050 Mortgages Payable 14 mortgages on 62 properties June 2022 - June 2032 299,901 (4) 3.3 % 4.49 % (6) 2.9 years Unamortized net premiums and deferred financing costs 673 Carrying value 300,574 Total Debt $ 9,197,694 (5) 100.0 % 3.05 % (6) 7.1 years Fixed Rate $ 7,912,388 86.0 % Variable Rate $ 1,285,306 14.0 % (1) We have a $3.0 billion unsecured revolving credit facility bearing interest at LIBOR, plus 0.775%, with an initial term that expires in March 2023, excluding a $1.0 billion accordion feature, which is subject to obtaining lender commitments. As of June 30, 2021, the balance of borrowings outstanding under our revolving credit facility consisted entirely of Sterling-denominated borrowings of £460.0 million. We also have an unsecured commercial paper program up to a maximum aggregate amount outstanding of $1.0 billion. (2) Borrowings under the term loan have been swapped to fixed and bear interest at an effective rate of 3.89%. (3) Represents the principal balance (in U.S. dollars) of the Sterling-denominated note offering and Sterling-denominated private placement of £400.0 million and £315.0 million, respectively, converted at the applicable exchange rate on June 30, 2021. In July 2021, we issued £400.0 million of 1.125% senior unsecured notes due July 2027 and £350.0 million of 1.750% senior unsecured notes due July 2033 in our debut green bond offering. (4) Includes the principal balance (in U.S. dollars) of one Sterling-denominated mortgage payable of £31.0 million converted at the applicable exchange rate on June 30, 2021. (5) Excludes non-cash unamortized net original issuance premiums recorded on the senior unsecured notes and bonds, non-cash unamortized net premiums recorded on the mortgages payable, and deferred financing costs on the term loan, notes and bonds, and mortgages payable. (6) The totals are calculated as the weighted average interest rate as of June 30, 2021 for each respective category. The credit facility consists entirely of Sterling-denominated borrowings of £460.0 million with a weighted average interest rate of 0.84% at June 30, 2021.

Q2 2021 Supplemental Operating & Financial Data 11 Debt Maturities as of June 30, 2021 (dollars in millions) Debt Maturities Year of Maturity Credit Facility and Commercial Paper (1) Term Loan Mortgages Payable Senior Unsecured Notes and Bonds (2) Total Weighted Average Expiring Interest Rate (3) 2021 $ 650.0 $ — $ 1.9 $ — $ 651.9 4.91% 2022 — — 112.1 — 112.1 4.97% 2023 635.3 — 20.9 750.0 1,406.2 4.64% 2024 — 250.0 112.5 350.0 712.5 3.97% 2025 — — 42.4 500.0 542.4 3.81% Thereafter — — 10.1 5,762.5 5,772.6 3.18% Totals $ 1,285.3 $ 250.0 $ 299.9 $ 7,362.5 $ 9,197.7 (1) Borrowings of $650.0 million under the commercial paper program were due in July 2021, while borrowings under the credit facility are assumed to be repaid at the expiration in March 2023. (2) Excludes our July 2021 debut green bond issuances of £400.0 million of 1.125% senior unsecured notes due July 2027 and £350.0 million of 1.750% senior unsecured notes due July 2033. (3) Weighted average interest rate for 2021 excludes commercial paper and for 2023 excludes the credit facility. Mortgages Payable Maturities by Quarter Year of Maturity First Quarter Second Quarter Third Quarter Fourth Quarter Total Weighted Average Interest Rate 2021 $ — $ — $ 1.0 $ 0.9 $ 1.9 4.91% 2022 1.0 10.5 62.3 38.3 112.1 4.97% 2023 1.0 6.5 12.5 0.9 20.9 4.41% 2024 0.9 0.9 0.9 109.8 112.5 4.46% 2025 41.9 0.1 0.2 0.2 42.4 3.05% Thereafter — — — 10.1 10.1 5.63% Totals $ 44.8 $ 18.0 $ 76.9 $ 160.2 $ 299.9

Q2 2021 Supplemental Operating & Financial Data 12 Capitalization & Financial Ratios (dollars in thousands, except per share amounts) Cash on Hand $ 231,164 Availability under Credit Facility 2,364,694 Less: Commercial Paper Borrowings (650,000) $ 1,945,858 (4) Liquidity calculation excludes borrowings under the $1.0 billion commercial paper program. We use our unsecured revolving credit facility as a liquidity backstop for the repayment of the notes issued under this program. Principal Debt Balance Credit Facility and Commercial Paper $ 1,285,306 Unsecured Term Loan 250,000 Senior Unsecured Notes and Bonds (1) 7,362,487 Mortgages Payable 299,901 Total Debt $ 9,197,694 Equity Shares/Units Stock Price Market Value Common Stock (NYSE: "O") (2) 380,174,042 $ 66.74 $ 25,372,816 Common Units 463,119 $ 66.74 $ 30,908 Total Equity $ 25,403,724 Total Market Capitalization (3) $ 34,601,418 Debt/Total Market Capitalization (3) 26.6 % (1) In July 2021, we issued £400.0 million of 1.125% senior unsecured notes due July 2027 and £350.0 million of 1.750% senior unsecured notes due July 2033 in our debut green bond offering. (2) In July 2021, we raised $594.1 million in net proceeds from a common stock public offering of 9,200,000 shares, inclusive of 1,200,000 shares purchased by the underwriters upon the exercise of their option to purchase additional shares. (3) Our enterprise value was $34,370,254 (total market capitalization less cash on hand). The percentage for debt to enterprise value is materially consistent with that presented for total market capitalization. Dividend Data YTD 2021 YTD 2020 Year-over-Year Growth Rate Common Dividend Paid per Share $ 1.409 $ 1.392 1.2 % AFFO per Share (diluted) $ 1.73 $ 1.74 (0.6) % AFFO Payout Ratio 81.4 % 80.0 % Liquidity as of June 30, 2021 (4) Capitalization as of June 30, 2021 Capital Structure as of June 30, 2021

Q2 2021 Supplemental Operating & Financial Data 13 Adjusted EBITDAre & Coverage Ratios (dollars in thousands) Reconciliation of Net Income to Adjusted EBITDAre (1) and Pro Forma Adjusted EBITDAre Three Months Ended June 30, 2021 Net income (2) $ 124,768 Interest 73,674 Income taxes 9,225 Depreciation and amortization 187,789 Provisions for impairment 17,246 Merger-related costs 13,298 Gain on sales of real estate (14,901) Foreign currency and derivative gains, net (3) (400) Quarterly Adjusted EBITDAre (3) $ 410,699 Annualized Adjusted EBITDAre $ 1,642,796 Annualized Pro Forma Adjustments (4) 42,118 Annualized Pro Forma Adjusted EBITDAre (5) $ 1,684,914 Net Debt $ 8,934,223 Net Debt/Annualized Adjusted EBITDAre (6) 5.4 Net Debt/Annualized Pro forma Adjusted EBITDAre (6) 5.3 (1) Adjusted EBITDAre and Annualized Adjusted EBITDAre are non-GAAP financial measures. Please see the Glossary for our definitions of these terms and an explanation of how we utilize these metrics. (2) Net income for the three months ended June 30, 2021 was negatively impacted by $8.2 million of rent reserves recorded as reductions of rental revenue, of which $723,000 relates to straight-line rent. (3) Includes foreign currency gains and losses as a result of intercompany debt and certain remeasurement transactions. (4) The Annualized Pro Forma Adjustments consists of $42.1 million from properties we acquired or stabilized during the quarter and removes $2,000 of operating income from properties we disposed of during the quarter, assuming all transactions occurred at the beginning of the quarter. (5) Annualized Pro Forma Adjusted EBITDAre is a non-GAAP financial measure. Please see the Glossary for our definition and an explanation of how we utilize this metric. (6) Net Debt/Annualized Adjusted EBITDAre and Net Debt/Annualized Pro Forma Adjusted EBITDAre are supplemental operating measures. Please see the Glossary for our definitions of these metrics. Debt Service & Fixed Charge Coverage

Q2 2021 Supplemental Operating & Financial Data 14 Debt Covenants The following is a summary of the key financial covenants for our senior unsecured notes and bonds, as defined and calculated per their terms. These calculations, which are not based on U.S. GAAP measurements, are presented to investors to show our ability to incur additional debt under the terms of our senior unsecured notes and bonds as well as to disclose our current compliance with such covenants, and are not measures of our liquidity or performance. Required Actuals Limitation on incurrence of total debt ≤ 60% of adjusted undepreciated assets 39.1 % Limitation on incurrence of secured debt ≤ 40% of adjusted undepreciated assets 1.3 % Debt service and fixed charge coverage (trailing 12 months) (1) ≥ 1.5x 6.0 Maintenance of total unencumbered assets ≥ 150% of unsecured debt 259.6 % (1) Our debt service coverage ratio is calculated on a pro forma basis for the preceding four-quarter period on the assumptions that: (i) the incurrence of any Debt (as defined in the covenants) incurred by us since the first day of such four-quarter period and the application of the proceeds therefrom (including to refinance other Debt since the first day of such four-quarter period), (ii) the repayment or retirement of any of our Debt since the first day of such four-quarter period, and (iii) any acquisition or disposition by us of any asset or group since the first day of such four quarters had in each case occurred on July 1, 2020, and subject to certain additional adjustments. Such pro forma ratio has been prepared on the basis required by that debt service covenant, reflects various estimates and assumptions and is subject to other uncertainties, and therefore does not purport to reflect what our actual debt service coverage ratio would have been had transactions referred to in clauses (i), (ii) and (iii) of the preceding sentence occurred as of July 1, 2020, nor does it purport to reflect our debt service coverage ratio for any future period. As of June 30, 2021

Q2 2021 Supplemental Operating & Financial Data 15 Investment Summary (dollars in thousands) Number of Properties Investment Cash Rents Leasable Square Feet Initial Average Cash Lease Yield (1) Weighted Average Lease Term (Years) Q1 2021 Acquisitions - U.S. 77 $ 566,909 $ 31,887 2,298,606 5.6% 13.5 Acquisitions - U.K. 12 402,962 19,775 932,967 4.9% 10.6 Total acquisitions 89 $ 969,871 $ 51,662 3,231,573 5.3% 12.4 Properties under development - U.S (2) 21 57,931 3,241 1,597,165 5.6% 15.5 Total real estate investments 110 $ 1,027,802 $ 54,903 4,828,738 5.3% 12.6 Approximately 39% of the annualized revenue generated by these investments is from our investment grade clients (3) Q2 2021 Acquisitions - U.S. 96 $ 485,424 $ 25,608 2,186,109 5.3% 13.9 Acquisitions - U.K. 29 591,821 35,083 2,200,493 6.1% 9.3 Total acquisitions 125 $ 1,077,245 $ 60,691 4,386,602 5.7% 11.2 Properties under development - U.S (2) 31 56,867 3,332 1,898,893 5.9% 15.6 Total real estate investments 156 $ 1,134,112 $ 64,023 6,285,495 5.7% 11.5 Approximately 54% of the annualized revenue generated by these investments is from our investment grade clients (3) YTD 2021 Acquisitions - U.S. 173 $ 1,052,333 $ 57,495 4,484,715 5.5% 13.7 Acquisitions - U.K. 41 994,783 54,858 3,133,460 5.6% 9.8 Total acquisitions 214 $ 2,047,116 $ 112,353 7,618,175 5.5% 11.8 Properties under development - U.S (2) 40 114,798 6,573 2,015,992 5.7% 15.6 Total real estate investments 254 $ 2,161,914 $ 118,926 9,634,167 5.5% 12.0 Approximately 47% of the annualized revenue generated by these investments is from our investment grade clients (3) (1) Initial average cash lease yield is a supplemental operating measure. Please see the Glossary for our definition of this metric. Contractual net operating income used in the calculation of initial average cash yield for the three and six months ended June 30, 2021 includes approximately $850,000 received as settlement credits for four properties acquired as reimbursement of free rent periods. (2) Includes investments during the period in new development and development of existing properties. Cash rents noted reflect total cash rents to be received on this investment amount upon completion of the properties under development. (3) Please see the Glossary for our definition of investment grade clients.

Q2 2021 Supplemental Operating & Financial Data 16 Disposition Summary (dollars in thousands) Number of Properties Initial Investment Net Book Value Net Sales Proceeds Net Cash Capitalization Rate (1) Q1 2021 Occupied 4 $ 10,735 $ 9,954 $ 12,592 7.2% Vacant 23 33,166 16,265 22,113 — Total real estate dispositions 27 $ 43,901 $ 26,219 $ 34,705 The unlevered internal rate of return on properties sold during the first quarter was 11.1% Q2 2021 Occupied 4 $ 24,019 $ 18,517 $ 26,887 6.3% Vacant 38 57,611 23,278 30,024 — Total real estate dispositions 42 $ 81,630 $ 41,795 $ 56,911 The unlevered internal rate of return on properties sold during the second quarter was 6.2% YTD 2021 Occupied 8 $ 34,754 $ 28,471 $ 39,479 6.6% Vacant 61 90,777 39,543 52,137 — Total real estate dispositions 69 $ 125,531 $ 68,014 $ 91,616 The unlevered internal rate of return on properties sold during the first six months was 8.1% (1) Net cash capitalization rate is a supplemental operating measure. Please see the Glossary for our definition of this metric.

Q2 2021 Supplemental Operating & Financial Data 17 Development Pipeline (dollars in thousands) Retail Number of Properties Investment to Date Estimated Remaining Investment Total Commitment Percent Funded Percent Leased (3) New development (1) 58 $ 26,951 $ 159,339 $ 186,290 (2) 14 % 100 % Development of existing properties 8 8,836 5,882 14,718 60 % 97 % 66 $ 35,787 $ 165,221 $ 201,008 18 % Non-Retail Number of Properties Investment to Date Estimated Remaining Investment Total Commitment Percent Funded Percent Leased (3) New development (1) 3 $ 112,597 $ 53,399 $ 165,996 68 % 100 % Development of existing properties — — — — — % — % 3 $ 112,597 $ 53,399 $ 165,996 68 % Total Number of Properties Investment to Date Estimated Remaining Investment Total Commitment Percent Funded Percent Leased (3) New development (1) 61 $ 139,548 $ 212,738 $ 352,286 (2) 40 % 100 % Development of existing properties 8 8,836 5,882 14,718 60 % 97 % 69 $ 148,384 $ 218,620 $ 367,004 40 % (1) Includes build-to-suit developments and forward take-out commitments on development properties with leases in place. (2) Includes a forward take-out commitment for a U.K. development property for £4.5 million. (3) Estimated rental revenue commencement dates on properties under development are between July 2021 and May 2022. As of June 30, 2021

Q2 2021 Supplemental Operating & Financial Data 18 Our Top 20 Clients Our 20 largest clients based on percentage of total portfolio annualized contractual rent, which does not give effect to deferred rent at June 30, 2021 include the following: Our Investment Grade Clients (3) Number of Leases 3,675 Percentage of Total Portfolio Annualized Contractual Rent 49.9% Weighted Average EBITDAR/Rent Ratio on Retail Properties 2.7x (2) Median EBITDAR/Rent Ratio on Retail Properties 2.5x (2) (1) Amounts for each client are calculated independently; therefore, the individual percentages may not sum to the total. (2) Based on an analysis of the most recently provided information from all retail clients that provide such information. The majority of our clients report pre-pandemic financial information. As a result, the current calculations only partially reflect the impact of COVID-19. We do not independently verify the information we receive from our retail clients. Client Diversification Ranking Client Number of Leases Percentage of Total Portfolio Annualized Contractual Rent (1) Investment Grade Ratings (S&P/Moody's/Fitch) 1 7-Eleven 592 6.0% A/Baa2/- 2 Walgreens 245 5.2% BBB/Baa2/BBB- 3 Dollar General 831 4.3% BBB/Baa2/- 4 FedEx 41 3.5% BBB/Baa2/- 5 Sainsbury's 23 3.4% — 6 Dollar Tree / Family Dollar 552 3.1% BBB/Baa2/- 7 LA Fitness 56 2.9% — 8 AMC Theaters 34 2.7% — 9 Regal Cinemas (Cineworld) 41 2.5% — 10 Walmart / Sam's Club 57 2.5% AA/Aa2/AA 11 Life Time Fitness 16 2.3% — 12 B&Q (Kingfisher) 15 1.8% BBB/Baa2/BBB 13 BJ's Wholesale Clubs 17 1.8% — 14 Tesco 12 1.8% BBB-/Baa3/BBB- 15 Circle K (Couche-Tard) 237 1.5% BBB/Baa2/- 16 Treasury Wine Estates 17 1.5% — 17 CVS Pharmacy 88 1.5% BBB/Baa2/- 18 Home Depot 23 1.4% A/A2/A 19 Kroger 22 1.4% BBB/Baa1/- 20 Fas Mart (GPM Investments) 199 1.2% — Total 3,118 52.1% (3) Please see the Glossary for our definition of investment grade clients.

Q2 2021 Supplemental Operating & Financial Data 19 (1)Top 10 Industries Percentage of Total Portfolio Annualized Contractual Rent As of Jun 30, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, 2021 2020 2019 2018 2017 2016 Convenience stores 11.6% 11.9% 12.3% 12.6% 9.3% 10.0% Grocery stores 10.5 9.8 7.9 5.0 5.3 3.5 Drug stores 7.6 8.2 8.8 9.4 10.2 10.8 Dollar stores 7.4 7.6 7.9 7.3 7.5 8.0 Health and fitness 6.2 6.7 7.0 7.1 7.7 7.6 Theaters 5.4 5.6 6.1 5.3 5.7 4.6 Restaurants - quick service (2) 5.4 5.3 5.8 6.3 5.2 4.8 Home improvement 5.2 4.3 2.9 2.8 2.9 2.5 General merchandise (2) 3.8 3.4 2.5 2.1 2.3 1.9 Transportation services 3.8 3.9 4.3 5.0 5.4 5.7 (1) The presentation of Top 10 Industries combines total portfolio annualized contractual rent from U.S. and U.K. properties. (2) 'U.K. restaurants - quick service' and 'U.K. - general merchandise' are included within the 'U.K. - other' classification in the Industry Diversification table.

Q2 2021 Supplemental Operating & Financial Data 20 Percentage of Total Portfolio Annualized Contractual Rent As of Jun 30, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, 2021 2020 2019 2018 2017 2016 U.S. Aerospace 0.6% 0.6% 0.8% 0.9% 1.0% 1.1% Apparel stores 1.2 1.3 1.1 1.2 1.4 1.7 Automotive collision services 1.1 1.1 1.0 0.9 1.0 1.0 Automotive parts 1.5 1.6 1.6 1.7 1.5 1.3 Automotive service 2.8 2.7 2.6 2.3 2.5 2.0 Automotive tire services 1.9 2.0 2.1 2.3 2.5 2.6 Beverages 2.1 2.1 2.0 2.4 2.6 2.8 Child care 2.0 2.1 2.1 2.2 1.7 1.7 Consumer electronics 0.3 0.3 0.3 0.3 0.3 0.3 Consumer goods 0.5 0.6 0.6 0.7 0.7 0.9 Convenience stores 11.6 11.9 12.3 12.6 9.3 10.0 Crafts and novelties 0.9 0.9 0.6 0.6 0.6 0.5 Diversified industrial 0.8 0.8 0.7 0.8 0.8 0.9 Dollar stores 7.4 7.6 7.9 7.3 7.5 8.0 Drug stores 7.6 8.2 8.8 9.4 10.2 10.8 Education 0.2 0.2 0.2 0.3 0.3 0.3 Electric utilities * 0.1 0.1 0.1 0.1 0.1 Entertainment 0.3 0.3 0.3 0.3 0.4 0.4 Equipment services 0.2 0.3 0.4 0.4 0.4 0.5 Financial services 1.7 1.8 2.0 2.4 2.3 2.6 Food processing 0.6 0.7 0.7 0.5 0.6 1.0 General merchandise 3.7 3.4 2.5 2.1 2.3 1.9 Government services 0.5 0.6 0.7 0.9 0.9 1.0 Grocery stores 4.6 4.9 5.2 5.0 5.3 3.5 Health and beauty 0.2 0.2 0.2 0.2 * * Health and fitness 6.2 6.7 7.0 7.1 7.7 7.6 * Less than 0.1% Industry Diversification

Q2 2021 Supplemental Operating & Financial Data 21 Industry Diversification (Cont'd) Percentage of Total Portfolio Annualized Contractual Rent As of Jun 30, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, 2021 2020 2019 2018 2017 2016 Health care 1.5% 1.5% 1.6% 1.6% 1.4% 1.5% Home furnishings 0.7 0.7 0.8 0.8 0.9 0.9 Home improvement 3.1 3.1 2.9 2.8 2.9 2.5 Machinery 0.1 0.1 0.1 0.1 0.1 0.1 Motor vehicle dealerships 1.6 1.6 1.6 1.8 2.0 2.0 Office supplies 0.1 0.1 0.2 0.2 0.2 0.3 Other manufacturing 0.4 0.4 0.6 0.7 0.8 0.8 Packaging 0.8 0.9 0.8 1.0 1.1 0.9 Paper 0.1 0.1 0.1 0.1 0.1 0.1 Pet supplies and services 0.7 0.7 0.7 0.5 0.6 0.6 Restaurants - casual dining 2.5 2.8 3.2 3.3 3.6 3.7 Restaurants - quick service 5.3 5.3 5.8 6.3 5.2 4.8 Shoe stores 0.2 0.2 0.2 0.5 0.6 0.6 Sporting goods 0.7 0.7 0.8 0.9 1.0 1.5 Telecommunications 0.4 0.5 0.5 0.6 0.6 0.7 Theaters 5.4 5.6 6.1 5.3 5.7 4.6 Transportation services 3.8 3.9 4.3 5.0 5.4 5.7 Wholesale clubs 2.5 2.4 2.5 2.9 3.1 3.4 Other 0.7 0.2 0.7 0.7 0.8 0.8 Total U.S. 91.1% 93.8% 97.3% 100% 100% 100% U.K. Grocery stores 5.9 4.9 2.7 — — — Health care 0.1 0.1 — — — — Home improvement 2.1 1.2 — — — — Warehousing and storage 0.3 — — — — — Other 0.5 * * — — — Total U.K. 8.9% 6.2% 2.7% —% —% —% Totals 100% 100% 100% 100% 100% 100% * Less than 0.1%

Q2 2021 Supplemental Operating & Financial Data 22 Geographic Diversification (dollars in thousands) Total Portfolio Percentage of Approximate Annualized Contractual Total Portfolio Number of Percent Leasable Rent as of Annualized Location Properties Leased Square Feet June 30, 2021 Contractual Rent Alabama 226 96 % 2,149,000 $ 31,260 1.7 % Alaska 3 100 274,600 2,148 0.1 Arizona 149 97 2,067,900 30,293 1.7 Arkansas 98 99 1,171,200 14,500 0.8 California 241 98 7,853,800 151,722 8.6 Colorado 96 97 1,554,100 23,951 1.3 Connecticut 18 89 1,274,100 12,338 0.7 Delaware 19 100 101,400 3,136 0.2 Florida 431 98 5,062,100 90,077 5.0 Georgia 300 99 4,547,800 59,856 3.3 Hawaii 22 100 47,800 6,926 0.4 Idaho 14 93 103,200 1,713 0.1 Illinois 308 96 7,650,200 99,425 5.6 Indiana 207 100 2,621,400 41,197 2.3 Iowa 45 93 2,525,700 18,236 1.0 Kansas 116 100 2,200,600 24,955 1.4 Kentucky 96 99 1,848,400 22,715 1.3 Louisiana 137 97 1,951,900 25,673 1.4 Maine 27 100 277,800 5,721 0.3 Maryland 37 100 1,459,400 24,636 1.4 Massachusetts 60 97 1,000,200 18,852 1.1 Michigan 247 100 2,790,900 43,311 2.4 Minnesota 176 99 2,357,400 47,074 2.6 Mississippi 195 98 2,114,300 24,351 1.4 Missouri 186 96 3,023,900 40,095 2.2

Q2 2021 Supplemental Operating & Financial Data 23 Geographic Diversification (Cont'd) (dollars in thousands) Total Portfolio Percentage of Approximate Annualized Contractual Total Portfolio Number of Percent Leasable Rent as of Annualized Location Properties Leased Square Feet June 30, 2021 Contractual Rent Montana 12 100 % 89,100 $ 2,240 0.1 % Nebraska 59 100 835,300 8,769 0.5 Nevada 26 100 1,701,500 16,310 0.9 New Hampshire 15 100 329,000 6,274 0.4 New Jersey 81 98 1,382,300 31,098 1.7 New Mexico 58 100 495,500 8,709 0.5 New York 154 100 3,388,600 72,922 4.1 North Carolina 215 99 3,980,800 54,020 3.0 North Dakota 8 75 126,900 1,327 0.1 Ohio 373 99 6,863,900 73,591 4.1 Oklahoma 192 100 2,553,600 33,815 1.9 Oregon 31 100 665,100 11,977 0.7 Pennsylvania 214 99 2,386,600 46,033 2.6 Rhode Island 3 100 158,000 2,584 0.1 South Carolina 180 99 1,816,300 36,172 2.0 South Dakota 19 89 249,900 2,587 0.1 Tennessee 263 98 3,900,300 50,663 2.8 Texas 842 100 13,373,600 186,765 10.5 Utah 23 100 949,700 10,068 0.6 Vermont 2 100 84,600 1,467 0.1 Virginia 219 100 3,425,000 45,317 2.5 Washington 52 98 1,075,500 18,163 1.0 West Virginia 41 98 571,300 7,554 0.4 Wisconsin 129 100 2,955,000 35,255 2.0 Wyoming 9 100 63,900 1,534 0.1 Puerto Rico 4 100 28,300 859 * U.K. 83 100 6,825,400 160,669 8.9 Totals/average 6,761 98 % 118,304,100 $ 1,790,903 100 % * Less than 0.1%

Q2 2021 Supplemental Operating & Financial Data 24 Property Type Composition (dollars in thousands) Property Type Number of Properties Approximate Leasable Square Feet (1) Total Portfolio Annualized Contractual Rent as of June 30, 2021 Percentage of Total Portfolio Annualized Contractual Rent as of June 30, 2021 Percentage of Annualized Contractual Rent from Our Investment Grade Clients (2) Retail 6,579 82,932,000 $ 1,506,930 84.1 % 45.9 % Industrial 124 32,039,800 206,077 11.5 77.1 Office 42 3,141,100 49,627 2.8 85.9 Agriculture 16 191,200 28,269 1.6 — Totals 6,761 118,304,100 $ 1,790,903 100 % 49.9 % (1) Includes leasable building square footage. Excludes 3,600 acres of leased land categorized as agriculture at June 30, 2021. (2) Please see the Glossary for our definition of investment grade clients.

Q2 2021 Supplemental Operating & Financial Data 25 Q2 2021 Same Store Rental Revenue Number of properties 6,114 Square footage 96,554,182 Q2 2021 $ 373,783 Q2 2020 $ 371,768 Increase (in dollars) $ 2,015 Increase (percent) 0.5 % Same Store Rental Revenue (1) (dollars in thousands) Top 3 Industries Contributing to the Change (2) Three Months Ended Three Months Ended Net % Change Industry June 30, 2021 June 30, 2020 Change by Industry Theaters - U.S. $ 18,175 $ 22,851 $ (4,676) (20.5) % Restaurants - Quick Service U.S. 22,306 18,993 3,313 17.4 % Convenience Stores - U.S. 48,116 47,170 946 2.0 % For purposes of comparability, same store rental revenue is presented on a constant currency basis using the exchange rate as of June 30, 2021 of 1.38 GBP/USD. Our calculation of same store rental revenue includes rent deferred for future payment as a result of lease concessions we granted in response to the COVID-19 pandemic and recognized under the practical expedient provided by the Financial Accounting Standards Board (FASB). Same store rental income was negatively impacted by reserves recorded as reductions of rental revenue of $5.7 million for the three months ended June 30, 2021 compared to $3.7 million for the three months ended June 30, 2020, and $13.0 million for the six months ended June 30, 2021 compared to $3.8 million for the six months ended June 30, 2020. Our calculation of same store rental revenue also includes uncollected rent for which we have not granted a lease concession. If these applicable amounts of rent deferrals and uncollected rent were excluded from our calculation of same store rental revenue, the increases for the three and six months ended June 30, 2021 relative to the comparable periods for 2020 would have been 16.3% and 4.9%, respectively. (2) Top 3 industry contributors are based on absolute value of net change year over year. (1) Please see the Glossary for our definitions of the Same Store Pool and Same Store Rental Revenue. Year-to-Date 2021 Same Store Rental Revenue Number of properties 6,114 Square footage 96,554,182 YTD 2021 $ 747,698 YTD 2020 $ 747,045 Increase (in dollars) $ 653 Increase (percent) 0.1 % Top 3 Industries Contributing to the Change (2) Six Months Ended Six Months Ended Net % Change Industry June 30, 2021 June 30, 2020 Change by Industry Theaters - U.S. $ 36,260 $ 45,783 $ (9,523) (20.8) % Restaurants - Quick Service U.S. 44,588 40,271 4,317 10.7 % Convenience Stores - U.S. 96,263 94,193 2,070 2.2 %

Q2 2021 Supplemental Operating & Financial Data 26 Same Store Rental Revenue (1) (Cont'd) (dollars in thousands) Q2 2021 Three Months Ended Three Months Ended Net % Change by Property Type June 30, 2021 June 30, 2020 Change Property Type Retail $ 315,993 $ 313,969 $ 2,024 0.6 % Industrial 39,832 39,990 (158) (0.4) % Office 12,167 12,091 76 0.6 % Agriculture 5,791 5,718 73 1.3 % Total $ 373,783 $ 371,768 $ 2,015 0.5 % Same Store Rental Revenue by Property Type Three Months Ended Six Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Same store rental revenue $ 373,783 $ 371,768 $ 747,698 $ 747,045 Constant currency adjustment (2) 429 (1,397) 385 (2,245) Straight-line rent and other non-cash adjustments 4,298 (1,518) 2,883 (1,782) Contractually obligated reimbursements by our clients 23,513 20,977 45,193 41,343 Revenue from excluded properties (3) 58,233 20,371 103,462 37,997 Rental revenue (including reimbursable) $ 460,256 $ 410,201 $ 899,621 $ 822,358 (1) Please see the Glossary to see our definitions of the Same Store Pool and Same Store Rental Revenue. (2) For purposes of comparability, same store rental revenue is presented on a constant currency basis using the exchange rate as of June 30, 2021 of 1.38 GBP/USD. (3) Please see the Glossary for our definition of Same Store Pool. Reconciliation of Same Store Rental Revenue to Rental Revenue (including reimbursable) Year-to-Date 2021 Six Months Ended Six Months Ended Net % Change by Property Type June 30, 2021 June 30, 2020 Change Property Type Retail $ 632,187 $ 631,542 $ 645 0.1 % Industrial 79,558 79,882 (324) (0.4) % Office 24,371 24,185 186 0.8 % Agriculture 11,582 11,436 146 1.3 % Total $ 747,698 $ 747,045 $ 653 0.1 %

Q2 2021 Supplemental Operating & Financial Data 27 By Property Occupied properties 6,658 Total properties 6,761 Occupancy 98.5 % By Square Footage Occupied square footage 116,529,556 Total square footage 118,304,147 Occupancy 98.5 % By Rental Revenue (Economic Occupancy) Quarterly cash rental revenue (1) $ 433,392,692 Quarterly cash vacant rental revenue (2) $ 5,362,273 Occupancy 98.8% Change in Occupancy Vacant properties at 3/31/2021   131 Lease expirations (3) + 66 Leasing activity (4) - 56 Vacant dispositions (5) - 38 Vacant properties at 6/30/2021   103 (1) This amount does not incorporate reserves recorded as reductions to rental revenue. (2) Based on contractual monthly rents received immediately preceding the date of vacancy. (3) Includes scheduled and unscheduled expirations (including leases rejected in bankruptcy), as well as future expirations resolved in the current quarter. (4) Excludes two minority unit leases with no property-level vacancy impact. See page 28 for additional detail on re-leasing activity. (5) Includes 36 properties vacant at the beginning of the quarter. Occupancy as of June 30, 2021 Occupancy by Number of Properties

Q2 2021 Supplemental Operating & Financial Data 28 Allocation Based on Number of Leases Leasing Activity Q2 2021 Re-leased to New Client Re-leased to Without After a Period Re-leasing Same Client Vacancy of Vacancy Totals Prior cash rents $ 9,607,887 $ 89,292 $ 273,447 $ 9,970,626 New cash rents* $ 10,039,419 $ 150,000 $ 247,090 $ 10,436,509 Recapture rate 104.5 % 168.0 % 90.4 % 104.7 % Number of leases 55 1 2 58 Average months vacant — — 26.3 0.9 Lease incentives (1) $ — $ — $ — $ — *Percentage of Total Portfolio Annualized Portfolio Rental Revenue: 0.6 % (1) Lease incentives are defined as capital outlays made on behalf of a client that are specific to the client's use and benefit, and are not capitalized as improvements to the property. Year-to-Date 2021 Re-leased to New Client Re-leased to Without After a Period Re-leasing Same Client Vacancy of Vacancy Totals Prior cash rents $ 16,312,794 $ 261,314 $ 4,545,635 $ 21,119,743 New cash rents* $ 17,034,167 $ 302,684 $ 4,636,123 $ 21,972,974 Recapture rate 104.4 % 115.8 % 102.0 % 104.0 % Number of leases 92 3 17 112 Average months vacant — — 8.4 1.3 Lease incentives (1) $ — $ — $ — $ — *Percentage of Total Portfolio Annualized Portfolio Rental Revenue: 1.2 %

Q2 2021 Supplemental Operating & Financial Data 29 (1) This table sets forth the timing of remaining lease terms expirations in our portfolio (excluding rights to extend a lease at the option of the client) and their contributions to annualized contractual rent as of June 30, 2021. Leases on our multi-client properties are counted separately in the table above. This table excludes 127 vacant units. (2) Of the 6,779 in-place leases in the portfolio, which excludes 127 vacant units, 5,773 or 85.2% were under leases that provide for increases in rents through: base rent increases tied to a consumer price index (typically subject to ceilings), percentage rent based on a percentage of the clients’ gross sales, fixed increases, or a combination of two or more of the aforementioned rent provisions. Our leases have a weighted average remaining lease term of approximately 8.8 years Lease Expirations (dollars in thousands) Total Portfolio (1)(2) Total Portfolio Percentage of Approx. Annualized Contractual Total Portfolio Expiring Leases Leasable Rent as of Annualized Year Retail Non-Retail Sq. Feet June 30, 2021 Contractual Rent 2021 89 7 780,000 $ 15,481 1.0 % 2022 350 22 8,143,800 75,173 4.2 2023 545 23 9,711,700 120,666 6.7 2024 420 18 7,553,100 97,351 5.4 2025 513 22 8,750,300 131,491 7.3 2026 428 9 7,266,300 98,533 5.5 2027 460 4 7,065,500 99,230 5.5 2028 596 14 12,191,200 147,576 8.2 2029 548 6 9,612,200 137,698 7.7 2030 256 12 7,406,900 85,892 4.8 2031 279 21 9,134,600 136,770 7.6 2032 320 12 5,367,200 111,492 6.2 2033 297 5 4,054,700 72,892 4.1 2034 320 3 5,561,900 131,730 7.5 2035 272 1 2,695,200 68,525 3.8 2036 - 2047 897 10 11,235,000 260,403 14.5 Totals 6,590 189 116,529,600 $ 1,790,903 100.0 %

Q2 2021 Supplemental Operating & Financial Data 30 2021 Earnings Guidance We estimate Normalized FFO per share for 2021 of $3.37 to $3.46. We estimate AFFO per share for 2021 of $3.53 to $3.59, an increase of 4.1% to 5.9% over 2020 AFFO per share of $3.39. Normalized FFO per share and AFFO per share exclude the merger-related costs associated with the proposed VEREIT merger. Summarized below are approximate estimates of the key components of our 2021 earnings guidance, which do not give effect to the announced merger between us and VEREIT, Inc. other than merger-related costs incurred to date: Prior 2021 Guidance Revised 2021 Guidance Net income per share (1) $1.19 to $1.27 $1.32 to $1.41 Real estate depreciation and impairments per share $2.13 $2.11 Gains on sales of properties per share $(0.06) $(0.09) Merger-related costs (actual) (1) $— $0.03 Normalized FFO per share $3.26 to $3.34 $3.37 to $3.46 AFFO per share $3.44 to $3.49 $3.53 to $3.59 Same store rent growth (2) 0.5% - 1.0% 1.5% - 2.0% Occupancy ~ 98% Over 98% Cash G&A expenses (% of revenues) (3)(4) ~ 4.5% ~ 4.5% Property expenses (non-reimbursable) (% of revenues) (3) 1.5% - 2.0% 1.5% - 1.8% Income tax expenses ~ $20 million ~ $25 million Acquisition volume Over $3.25 billion ~ $4.5 billion (1) Does not include any estimated merger-related costs for the remainder of 2021. (2) Includes rent deferred for future payment as a result of lease concessions we granted in response to the COVID-19 pandemic. (3) Revenue excludes contractually obligated reimbursements by our clients. Cash G&A excludes stock-based compensation expense. (4) G&A inclusive of stock-based compensation expense as a percentage of rental revenue, excluding reimbursements, is expected to be approximately 5% in 2021. Forward-looking statements involve known and unknown risks, which may cause our actual future results to differ materially from expected results. These risks include, among others, general economic conditions, domestic and foreign real estate conditions, client financial health, the availability of capital to finance planned growth, volatility and uncertainty in the credit markets and broader financial markets, changes in foreign currency exchange rates, property acquisitions and the timing of these acquisitions, the structure, timing and completion of the announced mergers between us and VEREIT, Inc. and any effects of the announcement, pendency or completion of the announced mergers, including the anticipated benefits therefrom, charges for property impairments, the effects of the COVID-19 pandemic and the measures taken to limit its impact, the effects of pandemics or global outbreaks of contagious diseases or fear of such outbreaks, our clients' ability to adequately manage their properties and fulfill their respective lease obligations to us, and the outcome of any legal proceedings to which we are a party, as described in our filings with the Securities and Exchange Commission. Consequently, forward-looking statements should be regarded solely as reflections of our current operating plans and estimates. Actual operating results may differ materially from what is expressed or forecast in this presentation. We undertake no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.

Q2 2021 Supplemental Operating & Financial Data 31 Analyst Coverage Equity Research Baird Wes Golladay wgolladay@rwbaird.com (216) 737-7510 Bank of America Securities Joshua Dennerlein joshua.dennerlein@bofa.com (646) 855-1681 Berenberg Nate Crossett nate.crossett@berenberg-us.com (646) 949-9030 BTIG Michael Gorman mgorman@btig.com (212) 738-6138 Capital One Chris Lucas christopher.lucas@capitalone.com (571) 633-8151 Citigroup Michael Bilerman michael.bilerman@citi.com (212) 816-1383 Edward Jones James Shanahan jim.shanahan@edwardjones.com (314) 515-5292 Goldman Sachs Caitlin Burrows caitlin.burrows@gs.com (212) 902-4736 Green Street Spenser Allaway sallaway@greenstreetadvisors.com (949) 640-8780 Janney Montgomery Scott Robert Stevenson robstevenson@janney.com (646) 840-3217 Jefferies Linda Tsai ltsai@jefferies.com (212) 778-8011 J.P. Morgan Anthony Paolone anthony.paolone@jpmorgan.com (212) 622-6682 Ladenburg Thalmann John Massocca jmassocca@ladenburg.com (212) 409-2543 Mizuho Haendel St. Juste haendel.st.juste@us.mizuho-sc.com (212) 205-7860 Morgan Stanley Ronald Kamdem ronald.kamdem@morganstanley.com (212) 269-8319 Raymond James RJ Milligan rjmilligan@raymondjames.com (727) 567-2585 Scotiabank Greg McGinniss greg.mcginniss@scotiabank.com (212) 225-6906 Stifel Simon Yarmak yarmaks@stifel.com (443) 224-1345 UBS Brent Dilts brent.dilts@ubs.com (212) 713-1841 Wells Fargo Todd Stender todd.stender@wellsfargo.com (562) 637-1371 Wolfe Research Andrew Rosivach arosivach@wolferesearch.com (646) 582-9250 Realty Income is covered by the analysts at the firms listed above. This list may not be complete and is subject to change. Please note that any opinions, estimates or forecasts regarding Realty Income's performance made by these analysts are theirs alone and do not represent opinions, estimates or forecasts of Realty Income or its management. Realty Income does not by its reference above or distribution imply, and expressly disclaims, any endorsement of or concurrence with any information, estimates, forecasts, opinions, conclusions or recommendations provided by analysts.

Q2 2021 Supplemental Operating & Financial Data 32 Glossary T Adjusted EBITDAre. The National Association of Real Estate Investment Trusts (Nareit) came to the conclusion that a Nareit-defined EBITDA metric for real estate companies (i.e., EBITDA for real estate, or EBITDAre) would provide investors with a consistent measure to help make investment decisions among certain REITs. Our definition of “Adjusted EBITDAre” is generally consistent with the Nareit definition, other than our adjustment to remove foreign currency and derivative gains and losses (which is consistent with our previous calculations of "Adjusted EBITDAre"). We define Adjusted EBITDAre, a non-GAAP financial measure, for the most recent quarter as earnings (net income) before (i) interest expense, including non- cash loss (gain) on swaps, (ii) income and franchise taxes, (iii) loss on extinguishment of debt, (iv) real estate depreciation and amortization, (v) provisions for impairment, (vi) merger-related costs, (vii) gain on sales of real estate, and (viii) foreign currency and derivative gains and losses, net. Our Adjusted EBITDAre may not be comparable to Adjusted EBITDAre reported by other companies or as defined by Nareit, and other companies may interpret or define Adjusted EBITDAre differently than we do. Management believes Adjusted EBITDAre to be a meaningful measure of a REIT’s performance because it is widely followed by industry analysts, lenders and investors. Management also believes the use of an annualized quarterly Adjusted EBITDAre metric is meaningful because it represents our current earnings run rate for the period presented. The ratio of our total debt to our annualized quarterly Adjusted EBITDAre is also used to determine vesting of performance share awards granted to our executive officers. Adjusted EBITDAre should be considered along with, but not as an alternative to, net income as a measure of our operating performance. Adjusted Funds From Operations (AFFO), a non-GAAP financial measure, is defined as FFO adjusted for unique revenue and expense items, which we believe are not as pertinent to the measurement of our ongoing operating performance. Most companies in our industry use a similar measurement to AFFO, but they may use the term "CAD" (for Cash Available for Distribution) or "FAD" (for Funds Available for Distribution). We believe AFFO provides useful information to investors because it is a widely accepted industry measure of the operating performance of real estate companies that is used by industry analysts and investors who look at and compare those companies. In particular, AFFO provides an additional measure to compare the operating performance of different REITs without having to account for differing depreciation assumptions and other unique revenue and expense items which are not pertinent to measuring a particular company’s ongoing operating performance. Therefore, we believe that AFFO is an appropriate supplemental performance metric, and that the most appropriate GAAP performance metric to which AFFO should be reconciled is net income available to common stockholders. Annualized Pro Forma Adjusted EBITDAre, a non-GAAP financial measure, is defined as Adjusted EBITDAre including adjustments to incorporate operating income from properties we acquired or stabilized during the applicable quarter and to remove operating income from properties we disposed of during the applicable quarter, giving pro forma effect to all transactions as if they occurred at the beginning of the applicable quarter. The pro forma adjustments are consistent with the debt service coverage ratio calculated under financial covenants for our senior unsecured notes and bonds. See page 14 for further information regarding our debt covenants. Funds From Operations (FFO), a non-GAAP financial measure, consistent with the Nareit’s definition, is net income available to common stockholders, plus depreciation and amortization of real estate assets, plus provisions for impairments of depreciable real estate assets, and reduced by gains on property sales. Presentation of the information regarding FFO and AFFO (described on pages 7 and 8) is intended to assist the reader in comparing the operating performance of different REITs, although it should be noted that not all REITs calculate FFO and AFFO in the same way, so comparisons with other REITs may not be meaningful. FFO and AFFO should not be considered as alternatives to reviewing our cash flows from operating, investing, and financing activities. In addition, FFO and AFFO should not be considered as measures of liquidity, of our ability to make cash distributions, or of our ability to pay interest payments. We consider FFO to be an appropriate supplemental measure of a REIT’s operating performance as it is based on a net income analysis of property portfolio performance that adds back items such as depreciation and impairments for FFO. The historical accounting convention used for real estate assets requires straight-line depreciation of buildings and improvements, which implies that the value of real estate assets diminishes predictably over time. Since real estate values historically rise and fall with market conditions, presentations of operating results for a REIT using historical accounting for depreciation could be less informative. The use of FFO is recommended by the REIT industry as a supplemental performance measure. In addition, FFO is used as a measure of our compliance with the financial covenants of our credit facility.

Q2 2021 Supplemental Operating & Financial Data 33 Glossary (Cont'd) Initial Average Cash Lease Yield (acquisitions) is computed as contractual cash net operating income for the first twelve months following the acquisition date, divided by the total cost of the property (including all expenses borne by us). Investment Grade Clients are our clients with a credit rating, and our clients that are subsidiaries or affiliates of companies with a credit rating, as of the balance sheet date, of Baa3/BBB- or higher from one of the three major rating agencies (Moody’s/S&P/Fitch). Net Cash Capitalization Rates (dispositions) are computed as annualized current month contractual cash net operating income, divided by the net proceeds received upon sale of the property (including all expenses borne by us). Net Debt/Annualized Adjusted EBITDAre, a ratio used by management as a measure of leverage, is calculated as net debt (which we define as total debt per the consolidated balance sheet, less cash and cash equivalents), divided by annualized quarterly Adjusted EBITDAre. Net Debt/Annualized Pro Forma Adjusted EBITDAre, a ratio used by management as a measure of leverage, is calculated as net debt (which we define as total debt per the consolidated balance sheet, less cash and cash equivalents), divided by annualized Pro Forma Adjusted EBITDAre. Normalized Funds from Operations Available to Common Stockholders (Normalized FFO), a non-GAAP financial measure, is FFO excluding merger-related costs related to our proposed merger with VEREIT. Same Store Pool, for purposes of determining the properties used to calculate our same store rental revenue, includes all properties that we owned for the entire year-to-date period, for both the current and prior year except for properties during the current or prior year that were: (i) vacant at any time, (ii) under development or redevelopment, or (iii) involved in eminent domain and rent was reduced. Same Store Rental Revenue excludes straight-line rent, the amortization of above and below-market leases, and reimbursements from clients for recoverable real estate taxes and operating expenses. For purposes of comparability, same store rental revenue is presented on a constant currency basis by applying the exchange rate as of the balance sheet date to base currency rental revenue. Total Portfolio Annualized Contractual Rent is the monthly aggregate cash amount charged to clients, inclusive of monthly base rent receivables, as of the balance sheet date, multiplied by 12, excluding percentage rent. We believe total portfolio annualized contractual rent is a useful supplemental operating measure, as it excludes properties that were no longer owned at the balance sheet date and includes the annualized rent from properties acquired during the quarter. Total portfolio annualized contractual rent has not been reduced to reflect reserves recorded as reductions to GAAP rental revenue in the periods presented.