Realty Income — May 6, 2026 release

During the quarter, we invested approximately $2.8 billion, $2.6 billion of which was our share, and our pipeline remains very active. As a result, we are increasing our full‑year investment guidance to $9.5 billion from $8 billion. Given the strong momentum across the business, we are increasing our 2026 AFFO per share guidance range to $4.41 to $4.44, reflecting projected annual per share growth of 3.0% to 3.7%. Our outlook is a testament to the unmatched scale, track record and operating capabilities of our global net lease enterprise.” Select Financial Results The following summarizes our select financial results (dollars in millions, except per share data): Three months ended March 31, 2026 2025 Total revenue $ 1,548.7 $ 1,380.5 Net income available to common stockholders (1) $ 311.8 $ 249.8 Net income per share $ 0.33 $ 0.28 Funds from operations available to common stockholders (FFO) (2) $ 993.6 $ 937.7 FFO per share $ 1.06 $ 1.05 Normalized funds from operations available to common stockholders (Normalized FFO) (2) $ 1,004.4 $ 937.9 Normalized FFO per share $ 1.07 $ 1.05 Adjusted funds from operations available to common stockholders (AFFO) (2) $ 1,057.6 $ 949.7 AFFO per share $ 1.13 $ 1.06 (1) The calculation to determine net income available to common stockholders includes provisions for impairment, gain on sales of real estate, and foreign currency gain and loss. These items can vary from quarter to quarter and can significantly impact net income available to common stockholders and period to period comparisons. (2) F