Growing International Portfolio

Delivery of Care is Increasingly Moving Towards Outpatient Visits REALTY INCOME US HOSPITAL ADMISSIONS vs. OUTPATIENT VISITS Healthcare delivery is shifting toward an outpatient model in the United States % Change vs. 2002 (1) 40% 35% 30% Inpatient - - Outpatient 39% 25% 20% Cumulative growth in Outpatient visits compared to US hospital admissions since 2002 15% 10% 5% 0% ANNUAL REVENUE GROWTH BY SITE OF CARE -5% 2002 04 06 08 10 10 12 22 2019 2022(1) -3% 8% Consumer-Centric Medical SNF LTAC Hospital MD Office ASC 2022 Outpatient Retail BH Clinics revenue $B: 120 9 1,212 543 37 31 1 (1) McKinsey & Co. (2) Center for Medicare and Medicaid Services. 7.2% Expected annual growth in Medicare spending from 2021-2030(2) 14 16 2018 44

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