Q2 2026 Earnings

Real Estate Acquisition Investment Volume

$3.38B

3.Investments in Real Estate A.Acquisitions of Real Estate Below is a summary of our acquisitions for the six months ended June 30, 2026 (unaudited): Number of Properties Investment ($ in millions) Weighted Average Lease Term (Years) Acquisitions U.S. real estate 198 $2,137.9 11.0 Europe real estate 48 1,245.8 8.0 Total real estate acquisitions 246 $3,383.7 9.9

Real Estate Acquisition Property Count

246

3.Investments in Real Estate A.Acquisitions of Real Estate Below is a summary of our acquisitions for the six months ended June 30, 2026 (unaudited): Number of Properties Investment ($ in millions) Weighted Average Lease Term (Years) Acquisitions U.S. real estate 198 $2,137.9 11.0 Europe real estate 48 1,245.8 8.0 Total real estate acquisitions 246 $3,383.7 9.9

Leases to Top 20 Clients

5.7K

Client Diversification The following table sets forth the 20 largest clients in our property portfolio, expressed as a percentage of total portfolio annualized base rent, which does not give effect to deferred rent or interest earned on loans and preferred equity investments, as of June 30, 2026: Client Number of Leases Percentage of Total Portfolio Annualized Base Rent (1) Dollar General 1,855 3.3% 7-Eleven 802 3.1 Walgreens 391 3.0 Family Dollar 1,253 2.6 Life Time Group 43 2.1 (B&Q) Kingfisher 72 2.0 Wynn Resorts 1 2.0 EG Group 414 2.0 Asda 41 1.6 Sainsbury's 42 1.6 Tesco 30 1.5 BJ's Wholesale Club 45 1.5 Tractor Supply 258 1.4 FedEx 60 1.3 MGM (Bellagio) 1 1.1 CVS Pharmacy 206 1.1 Carrefour 43 1.0 Home Depot 41 0.9 Walmart / Sam's Club 62 0.9 Decathlon 85 0.9 Total 5,745 34.8% (1)Amounts for each client are calculated independently; therefore, the individual percentages may not sum to the total.

Top 20 Client Annualized Base Rent Concentration

34.8%

As of June 30, 2026, approximately 34.3% of our total portfolio annualized base rent comes from properties leased to our investment grade clients, their subsidiaries or affiliated companies. As of June 30, 2026, our top 20 clients (based on percentage of total portfolio annualized base rent) represented approximately 34.8% of our annualized base rent and 13 of these clients have investment grade credit ratings or are subsidiaries or affiliates of investment grade companies. Approximately 91% of our annualized retail base rent as of June 30, 2026, is derived from our clients with a service, non-discretionary, and/or low price point component to their business.

Investment-Grade Clients Among Top 20

13

As of June 30, 2026, approximately 34.3% of our total portfolio annualized base rent comes from properties leased to our investment grade clients, their subsidiaries or affiliated companies. As of June 30, 2026, our top 20 clients (based on percentage of total portfolio annualized base rent) represented approximately 34.8% of our annualized base rent and 13 of these clients have investment grade credit ratings or are subsidiaries or affiliates of investment grade companies. Approximately 91% of our annualized retail base rent as of June 30, 2026, is derived from our clients with a service, non-discretionary, and/or low price point component to their business.

Portfolio Client Count

1.8K

As of June 30, 2026, we owned or held interests in 15,588 properties, with approximately 353.2 million square feet of leasable space leased to 1,798 clients doing business in 92 separate industries. Of the 15,588 properties in our portfolio as of June 30, 2026, 15,218, or 97.6%, were single-tenant properties, and the remaining were multi–client

Loan Principal Fundings

$628.7M

The following table summarizes the activity within loans receivable, net for the three and six months ended June 30, 2026 (in millions): Loans receivable, net as of March 31, 2026 $2,672.2 Principal fundings 628.7 Interest drawn on loans 4.6 Accretion of original issue cost 0.5 Change in allowance for credit losses (8.0) Foreign currency remeasurement (0.4) Loans receivable, net as of June 30, 2026 $3,297.6

Future Loan Funding Commitments

$375.4M

Construction Loans 127.3 128.4 136.8 1.52 8.2 Mortgage Loans 341.6 342.1 24.3 4.18 7.4 Unsecured and Mezzanine Loans (6) 1,261.0 1,243.5 23.4 3.22 9.1 Total $3,359.5 $3,297.6 $375.4 3.69 8.6% December 31, 2025 Loan Type Principal Balance Total Carrying Value (1) Future Funding Commitments (2) Weighted Average Term (Years) (3) Weighted Average Interest Rate (4) Secured Loans $1,250.4 $1,214.1 $— 4.6 8.8% Mortgage Loans 256.2 256.2 34.0 5.1 7.6 Unsecured and Mezzanine Loans 214.7 211.8 — 2.9 10.3 Total $1,721.3 $1,682.1 $34.0 4.5 8.8% (1)Total carrying value includes unamortized loan origination costs and allowances for credit losses. Total carrying amount excludes interest receivable of $38.8 million and $27.8 million as of June 30, 2026 and December 31, 2025, respectively, which is presented in 'Other assets, net' on our consolidated balance sheets. (2)Our future funding commitments are subject to our borrowers’ compliance with the financial covenants and other applicable provisions of each respective loan agreement.

Investment-Grade Client Share of Annualized Base Rent

34.3%

As of June 30, 2026, approximately 34.3% of our total portfolio annualized base rent comes from properties leased to our investment grade clients, their subsidiaries or affiliated companies. As of June 30, 2026, our top 20 clients (based on percentage of total portfolio annualized base rent) represented approximately 34.8% of our annualized base rent and 13 of these clients have investment grade credit ratings or are subsidiaries or affiliates of investment grade companies. Approximately 91% of our annualized retail base rent as of June 30, 2026, is derived from our clients with a service, non-discretionary, and/or low price point component to their business.

Investment in Properties Under Development

$193.8M

Real estate properties under development U.S. real estate 45 $75.8 16.9 Europe real estate 37 118.0 10.0 Total real estate properties under development 82 $193.8 12.7

Properties Under Development

82

Real estate properties under development U.S. real estate 45 $75.8 16.9 Europe real estate 37 118.0 10.0 Total real estate properties under development 82 $193.8 12.7

Development Construction Contract Commitments

$729.4M

As of June 30, 2026, we had $729.4 million of commitments under construction contracts related to development projects, which have estimated rental revenue commencement dates between July 2026 and December 2028. In addition, we had commitments of $81.1 million for tenant improvements, recurring capital expenditures, and building improvements, and had accrued $11.5 million in contingent consideration obligations related to leasing activities at four U.K. retail park properties acquired in 2026, representing the remaining amounts deemed probable and estimable as of June 30, 2026.

Development Weighted Average Lease Term

12.7

Real estate properties under development U.S. real estate 45 $75.8 16.9 Europe real estate 37 118.0 10.0 Total real estate properties under development 82 $193.8 12.7

Properties Sold

80

Dispositions During the three months ended June 30, 2026, we sold 80 properties with total net proceeds received of $160.7 million. During the six months ended June 30, 2026, we sold 177 properties with total net proceeds received of $348.6 million.

Property Disposition Net Proceeds

$160.7M

Dispositions During the three months ended June 30, 2026, we sold 80 properties with total net proceeds received of $160.7 million. During the six months ended June 30, 2026, we sold 177 properties with total net proceeds received of $348.6 million.

Largest Industry Annualized Base Rent Share

11.1%

Top 20 Industry Concentrations We are engaged in a single business activity, which is the leasing of property to clients, generally on a net lease basis. That business activity spans various geographic boundaries and includes property types and clients engaged in various industries. Even though we have a single segment, we believe our investors continue to view diversification as a key component of our investment philosophy and so we believe it remains important to present certain information regarding our property portfolio classified according to the business of the respective clients, expressed as a percentage of our total portfolio annualized base rent: Percentage of Total Portfolio Annualized Base Rent by Industry As of June 30, 2026 December 31, 2025 (1) Grocery 11.1% 11.1%

Gross Investment Volume

$2.60B

Investments During the three months ended June 30, 2026, we invested $2.6 billion; our pro-rata share was $2.1 billion at an initial weighted average cash yield of 7.3%, including investments in 144 properties, properties under development or expansion, unconsolidated entities, and loans. During the six months ended June 30, 2026, we invested $5.3 billion; our pro-rata share was $4.7 billion at an initial weighted average cash yield of 7.2%, including investments in 338 properties, properties under development or expansion, unconsolidated entities, and loans.

Pro-Rata Investment Volume

$2.10B

Investments During the three months ended June 30, 2026, we invested $2.6 billion; our pro-rata share was $2.1 billion at an initial weighted average cash yield of 7.3%, including investments in 144 properties, properties under development or expansion, unconsolidated entities, and loans. During the six months ended June 30, 2026, we invested $5.3 billion; our pro-rata share was $4.7 billion at an initial weighted average cash yield of 7.2%, including investments in 338 properties, properties under development or expansion, unconsolidated entities, and loans.

Properties Included in Investment Activity

144

Investments During the three months ended June 30, 2026, we invested $2.6 billion; our pro-rata share was $2.1 billion at an initial weighted average cash yield of 7.3%, including investments in 144 properties, properties under development or expansion, unconsolidated entities, and loans. During the six months ended June 30, 2026, we invested $5.3 billion; our pro-rata share was $4.7 billion at an initial weighted average cash yield of 7.2%, including investments in 338 properties, properties under development or expansion, unconsolidated entities, and loans.

Initial Weighted Average Cash Yield on Investments

7.3%

Investments During the three months ended June 30, 2026, we invested $2.6 billion; our pro-rata share was $2.1 billion at an initial weighted average cash yield of 7.3%, including investments in 144 properties, properties under development or expansion, unconsolidated entities, and loans. During the six months ended June 30, 2026, we invested $5.3 billion; our pro-rata share was $4.7 billion at an initial weighted average cash yield of 7.2%, including investments in 338 properties, properties under development or expansion, unconsolidated entities, and loans.

Leases with Contractual Rent Increases

13.9K

Of the 17,440 in-place leases in the portfolio, 13,918, or 79.8%, were under leases that provide for increases in rents through: base rent increases tied to inflation (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.

Share of Leases with Contractual Rent Increases

79.8%

Of the 17,440 in-place leases in the portfolio, 13,918, or 79.8%, were under leases that provide for increases in rents through: base rent increases tied to inflation (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.

In-Place Leases

17.4K

Of the 17,440 in-place leases in the portfolio, 13,918, or 79.8%, were under leases that provide for increases in rents through: base rent increases tied to inflation (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.

Portfolio Weighted Average Remaining Lease Term

8.6

As of June 30, 2026, we owned or held interests in 15,588 properties, with approximately 353.2 million square feet of leasable space leased to 1,798 clients doing business in 92 separate industries. Of the 15,588 properties in our portfolio as of June 30, 2026, 15,218, or 97.6%, were single-tenant properties, and the remaining were multi–client properties. Our total portfolio of properties as of June 30, 2026 had a weighted average remaining lease term (excluding rights to extend a lease at the option of the client) of approximately 8.6 years. Total portfolio annualized base rent (defined as our pro-rata share of contractual monthly base rent for all leases in place and exchange rates as of the balance sheet date, multiplied by 12) on our leases as of June 30, 2026 was $5.28 billion.

Lease Expirations Resolved in Period

480

our portfolio activity for the periods indicated below: Three months ended June 30, 2026 Properties available for lease as of March 31, 2026 172 Lease expirations (1) 480 Re-leases to same client (385) Re-leases to new client (34) Vacant dispositions (45) Properties available for lease as of June 30, 2026 188 Six months ended June 30, 2026 Properties available for lease as of December 31, 2025 173 Lease expirations (1) 800 Re-leases to same client (605) Re-leases to new client (57) Vacant dispositions (123) Properties available for lease as of June 30, 2026 188 (1)Includes scheduled and unscheduled expirations (including leases rejected in bankruptcy), as well as future expirations resolved in the periods indicated above.

Re-Leases to New Client

34

our portfolio activity for the periods indicated below: Three months ended June 30, 2026 Properties available for lease as of March 31, 2026 172 Lease expirations (1) 480 Re-leases to same client (385) Re-leases to new client (34) Vacant dispositions (45) Properties available for lease as of June 30, 2026 188 Six months ended June 30, 2026 Properties available for lease as of December 31, 2025 173 Lease expirations (1) 800 Re-leases to same client (605) Re-leases to new client (57) Vacant dispositions (123) Properties available for lease as of June 30, 2026 188 (1)Includes scheduled and unscheduled expirations (including leases rejected in bankruptcy), as well as future expirations resolved in the periods indicated above.

Re-Leases to Same Client

385

our portfolio activity for the periods indicated below: Three months ended June 30, 2026 Properties available for lease as of March 31, 2026 172 Lease expirations (1) 480 Re-leases to same client (385) Re-leases to new client (34) Vacant dispositions (45) Properties available for lease as of June 30, 2026 188 Six months ended June 30, 2026 Properties available for lease as of December 31, 2025 173 Lease expirations (1) 800 Re-leases to same client (605) Re-leases to new client (57) Vacant dispositions (123) Properties available for lease as of June 30, 2026 188 (1)Includes scheduled and unscheduled expirations (including leases rejected in bankruptcy), as well as future expirations resolved in the periods indicated above.

Vacant Property Dispositions

45

our portfolio activity for the periods indicated below: Three months ended June 30, 2026 Properties available for lease as of March 31, 2026 172 Lease expirations (1) 480 Re-leases to same client (385) Re-leases to new client (34) Vacant dispositions (45) Properties available for lease as of June 30, 2026 188 Six months ended June 30, 2026 Properties available for lease as of December 31, 2025 173 Lease expirations (1) 800 Re-leases to same client (605) Re-leases to new client (57) Vacant dispositions (123) Properties available for lease as of June 30, 2026 188 (1)Includes scheduled and unscheduled expirations (including leases rejected in bankruptcy), as well as future expirations resolved in the periods indicated above.

Portfolio Occupancy Rate

98.8%

Portfolio Discussion Leasing Results As of June 30, 2026, we had 188 properties available for lease or sale out of 15,588 properties in our portfolio, which represents a 98.8% occupancy rate based on the number of properties in our portfolio. Our property-level occupancy rates exclude properties with ancillary leases only, such as cell towers and billboards, and properties with possession pending, and include properties owned by unconsolidated joint ventures. Below is a summary of our portfolio activity for the periods indicated below:

Properties Available for Lease or Sale

188

Portfolio Discussion Leasing Results As of June 30, 2026, we had 188 properties available for lease or sale out of 15,588 properties in our portfolio, which represents a 98.8% occupancy rate based on the number of properties in our portfolio. Our property-level occupancy rates exclude properties with ancillary leases only, such as cell towers and billboards, and properties with possession pending, and include properties owned by unconsolidated joint ventures. Below is a summary of our portfolio activity for the periods indicated below:

Single-Tenant Properties

15.2K

12.Lessor Operating Leases As of June 30, 2026, we owned or held interests in 15,588 properties. Of the 15,588 properties, 15,218, or 97.6%, are single-tenant properties, and the remainder are multi-tenant properties. As of June 30, 2026, 188 properties were available for lease or sale. The majority of our leases are accounted for as operating leases.

Single-Tenant Property Share

97.6%

12.Lessor Operating Leases As of June 30, 2026, we owned or held interests in 15,588 properties. Of the 15,588 properties, 15,218, or 97.6%, are single-tenant properties, and the remainder are multi-tenant properties. As of June 30, 2026, 188 properties were available for lease or sale. The majority of our leases are accounted for as operating leases.

Portfolio Industry Count

92

As of June 30, 2026, we owned or held interests in 15,588 properties, with approximately 353.2 million square feet of leasable space leased to 1,798 clients doing business in 92 separate industries. Of the 15,588 properties in our portfolio as of June 30, 2026, 15,218, or 97.6%, were single-tenant properties, and the remaining were multi–client

Service, Non-Discretionary, or Low-Price Retail ABR Share

91.0%

As of June 30, 2026, approximately 34.3% of our total portfolio annualized base rent comes from properties leased to our investment grade clients, their subsidiaries or affiliated companies. As of June 30, 2026, our top 20 clients (based on percentage of total portfolio annualized base rent) represented approximately 34.8% of our annualized base rent and 13 of these clients have investment grade credit ratings or are subsidiaries or affiliates of investment grade companies. Approximately 91% of our annualized retail base rent as of June 30, 2026, is derived from our clients with a service, non-discretionary, and/or low price point component to their business.

Portfolio Leasable Square Feet

353.2M

Property Type Composition The following table sets forth certain property type information regarding our property portfolio as of June 30, 2026 (dollars and square footage in thousands): Property Type Number of Properties Leasable Square Feet (1) Annualized Base Rent Percentage of Annualized Base Rent Retail 14,913 216,919 $4,132,195 78.3% Industrial 604 127,032 856,311 16.2 Gaming 2 5,053 165,629 3.1 Other (2) 69 4,216 126,265 2.4 Total 15,588 353,220 $5,280,400 100.0% (1)Represents leasable building square footage, which includes our portfolio of unconsolidated joint ventures based on ownership percentage and deducts noncontrolling interests. Excludes 2,962 acres of leased land categorized as agriculture as of June 30, 2026.

Total Portfolio Annualized Base Rent

$5.28B

We define total portfolio annualized base rent as our pro-rata share of contractual monthly base rent for all leases in place and exchange rates as of the balance sheet date, multiplied by 12, and excluding percentage rent and income on loans and preferred equity investments. If there is a rent abatement, we annualize the first monthly contractual base rent following the free rent period. Total annualized base rent has not been reduced to reflect reserves recorded as reductions to GAAP rental revenue in the periods presented. We believe total annualized base 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. Property Type Composition The following table sets forth certain property type information regarding our property portfolio as of June 30, 2026 (dollars and square footage in thousands): Property Type Number of Properties Leasable Square Feet (1) Annualized Base Rent Percentage of Annualized Base Rent Retail 14,913 216,919 $4,132,195 78.3% Industrial 604 127,032 856,311 16.2 Gaming 2 5,053 165,629 3.1 Other (2) 69 4,216 126,265 2.4 Total 15,588 353,220 $5,280,400 100.0%

Total Portfolio Properties

15.6K

As of June 30, 2026, we owned or held interests in 15,588 properties, with approximately 353.2 million square feet of leasable space leased to 1,798 clients doing business in 92 separate industries. Of the 15,588 properties in our portfolio as of June 30, 2026, 15,218, or 97.6%, were single-tenant properties, and the remaining were multi–client

Gaming Annualized Base Rent Share

3.1%

Property Type Composition The following table sets forth certain property type information regarding our property portfolio as of June 30, 2026 (dollars and square footage in thousands): Property Type Number of Properties Leasable Square Feet (1) Annualized Base Rent Percentage of Annualized Base Rent Retail 14,913 216,919 $4,132,195 78.3% Industrial 604 127,032 856,311 16.2 Gaming 2 5,053 165,629 3.1 Other (2) 69 4,216 126,265 2.4 Total 15,588 353,220 $5,280,400 100.0%

Industrial Annualized Base Rent Share

16.2%

Property Type Composition The following table sets forth certain property type information regarding our property portfolio as of June 30, 2026 (dollars and square footage in thousands): Property Type Number of Properties Leasable Square Feet (1) Annualized Base Rent Percentage of Annualized Base Rent Retail 14,913 216,919 $4,132,195 78.3% Industrial 604 127,032 856,311 16.2 Gaming 2 5,053 165,629 3.1 Other (2) 69 4,216 126,265 2.4 Total 15,588 353,220 $5,280,400 100.0%

Other Property-Type Annualized Base Rent Share

2.4%

Property Type Composition The following table sets forth certain property type information regarding our property portfolio as of June 30, 2026 (dollars and square footage in thousands): Property Type Number of Properties Leasable Square Feet (1) Annualized Base Rent Percentage of Annualized Base Rent Retail 14,913 216,919 $4,132,195 78.3% Industrial 604 127,032 856,311 16.2 Gaming 2 5,053 165,629 3.1 Other (2) 69 4,216 126,265 2.4 Total 15,588 353,220 $5,280,400 100.0%

Retail Annualized Base Rent Share

78.3%

Property Type Composition The following table sets forth certain property type information regarding our property portfolio as of June 30, 2026 (dollars and square footage in thousands): Property Type Number of Properties Leasable Square Feet (1) Annualized Base Rent Percentage of Annualized Base Rent Retail 14,913 216,919 $4,132,195 78.3% Industrial 604 127,032 856,311 16.2 Gaming 2 5,053 165,629 3.1 Other (2) 69 4,216 126,265 2.4 Total 15,588 353,220 $5,280,400 100.0%

New Annualized Base Rent on Re-Leased Units

$110.3M

During the three months ended June 30, 2026, the new annualized base rent on re-leased units was $110.3 million, as compared to the previous annual rent of $107.4 million on the same units, representing a rent recapture rate of 102.7% on the re-leased units. During the six months ended June 30, 2026, the new annualized base rent on re-leased units was $183.5 million, as compared to the previous annual rent of $178.2 million on the same units, representing a rent recapture rate of 103.0% on the re-leased units.

Previous Annual Rent on Re-Leased Units

$107.4M

During the three months ended June 30, 2026, the new annualized base rent on re-leased units was $110.3 million, as compared to the previous annual rent of $107.4 million on the same units, representing a rent recapture rate of 102.7% on the re-leased units. During the six months ended June 30, 2026, the new annualized base rent on re-leased units was $183.5 million, as compared to the previous annual rent of $178.2 million on the same units, representing a rent recapture rate of 103.0% on the re-leased units.

Rent Recapture Rate

102.7%

During the three months ended June 30, 2026, the new annualized base rent on re-leased units was $110.3 million, as compared to the previous annual rent of $107.4 million on the same units, representing a rent recapture rate of 102.7% on the re-leased units. During the six months ended June 30, 2026, the new annualized base rent on re-leased units was $183.5 million, as compared to the previous annual rent of $178.2 million on the same units, representing a rent recapture rate of 103.0% on the re-leased units.

Same-Store Property Count

14.6K

The table below summarizes the increase in rental revenue (excluding reimbursements) in the three and six months ended June 30, 2026 and 2025 (dollars in thousands): Three months ended June 30, Number of Properties 2026 2025 Change Properties acquired during 2026 & 2025 565 $113,168 $23,639 $89,529 Same store rental revenue 14,619 1,194,013 1,179,819 14,194 (1)For purposes of comparability, same store rental revenue is presented on a constant currency basis using the exchange rate as of June 30, 2026. (2)Relates to the aggregate of (i) rental revenue from 301 properties that were available for lease during part of 2026 or 2025 for the three and six months ended June 30, 2026, respectively and (ii) rental revenue for 103 properties under development or completed developments that do not meet our same store pool definition for the three and six months ended June 30, 2026, respectively. (3)"Other excluded revenue" primarily consists of reimbursements related to lease termination fees and other settlement income. -45- Table of Contents For purposes of determining the same store rent property pool, we include all properties that were 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: (i) were vacant at any time, (ii) were under development or redevelopment, or (iii) were involved in eminent domain and rent was reduced. Each of the exclusions from the same store pool are separately addressed within the applicable sentences above, explaining the changes in rental revenue for the period.

Same-Store Rental Revenue

$1.19B

The table below summarizes the increase in rental revenue (excluding reimbursements) in the three and six months ended June 30, 2026 and 2025 (dollars in thousands): Three months ended June 30, Number of Properties 2026 2025 Change Properties acquired during 2026 & 2025 565 $113,168 $23,639 $89,529 Same store rental revenue 14,619 1,194,013 1,179,819 14,194 (1)For purposes of comparability, same store rental revenue is presented on a constant currency basis using the exchange rate as of June 30, 2026. (2)Relates to the aggregate of (i) rental revenue from 301 properties that were available for lease during part of 2026 or 2025 for the three and six months ended June 30, 2026, respectively and (ii) rental revenue for 103 properties under development or completed developments that do not meet our same store pool definition for the three and six months ended June 30, 2026, respectively. (3)"Other excluded revenue" primarily consists of reimbursements related to lease termination fees and other settlement income. -45- Table of Contents For purposes of determining the same store rent property pool, we include all properties that were 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: (i) were vacant at any time, (ii) were under development or redevelopment, or (iii) were involved in eminent domain and rent was reduced. Each of the exclusions from the same store pool are separately addressed within the applicable sentences above, explaining the changes in rental revenue for the period.

Same-Store Rental Revenue Growth

1.2%

The table below summarizes the increase in rental revenue (excluding reimbursements) in the three and six months ended June 30, 2026 and 2025 (dollars in thousands): Three months ended June 30, Number of Properties 2026 2025 Change Properties acquired during 2026 & 2025 565 $113,168 $23,639 $89,529 Same store rental revenue 14,619 1,194,013 1,179,819 14,194 (1)For purposes of comparability, same store rental revenue is presented on a constant currency basis using the exchange rate as of June 30, 2026. (2)Relates to the aggregate of (i) rental revenue from 301 properties that were available for lease during part of 2026 or 2025 for the three and six months ended June 30, 2026, respectively and (ii) rental revenue for 103 properties under development or completed developments that do not meet our same store pool definition for the three and six months ended June 30, 2026, respectively. (3)"Other excluded revenue" primarily consists of reimbursements related to lease termination fees and other settlement income. -45- Table of Contents For purposes of determining the same store rent property pool, we include all properties that were 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: (i) were vacant at any time, (ii) were under development or redevelopment, or (iii) were involved in eminent domain and rent was reduced. Each of the exclusions from the same store pool are separately addressed within the applicable sentences above, explaining the changes in rental revenue for the period.