Realty Income — Feb 24, 2025 release

COMPANY HIGHLIGHTS : For the three months ended December 31, 2024: • Net income available to common stockholders was $199.6 million, or $0.23 per share • Adjusted Funds from Operations ("AFFO") per share increased 4.0% to $1.05 per share, compared to the three months ended December 31, 2023 • Invested $1.7 billion at an initial weighted average cash yield of 7.1% • Net Debt to Annualized Pro Forma Adjusted EBITDA re was 5.4x • Raised $947.8 million from the sale of common stock, primarily through our At-The-Market (ATM) program, at a weighted average price of $58.12 • Achieved a rent recapture rate of 107.4% on properties re-leased For the year ended December 31, 2024: • Net income available to common stockholder was $847.9 million, or $0.98 per share • AFFO increased 4.8% to $4.19 per share, compared to the year ended December 31, 2023 • Invested $3.9 billion at an initial weighted average cash yield of 7.4% • Raised $1.8 billion from the sale of common stock, primarily through our At-The-Market (ATM) program, at a weighted average price of $58.33 • Achieved a rent recapture rate of 105.6% on properties re-leased Events subsequent to December 31, 2024: • In February 2025, our Board of Directors authorized a share repurchase program for up to $2.0 billion in shares CEO Comments “I am pleased with our performance in 2024 as we delivered a 4.8% increase in AFFO per share, representing our 14 th consecutive year of annual AFFO per share growth,” said Sumit Roy, Realty Income's President and Chief Executive Officer. “Throughout the year, we remained disciplined in our capital deployment strategy, culminating in a successful fourth quarter of high-quality investment activity that was prefunded at attractive investment spreads. Our deep access to capital, global reach for proprietary acquisition opportunities, and track record utilizing predictive analytics tools to enhance portfolio management capabilities represent inherent advantages of our unique business model. Looking forward, we have positioned our platform for continued growth and dependable, long-term returns for our shareholders.” Select Financial Results The following summarizes our select financial results (dollars in millions, except per share data): Three months ended December 31, Years ended  December 31, 2024 2023 2024 2023 Total revenue $ 1,340.3 $ 1,076.3 $ 5,271.1 $ 4,079.0 Net income available to common stockholders (1) (2) $ 199.6 $ 218.4 $ 847.9 $ 872.3 Net income per share $