Crystallizing Value Creation & Market Overview
REALTY INCOME
Latest Developments
November 1st, 2021: Closed merger with VEREITⓇ
>$50
bn
Combined enterprise value allowing for enhanced size, scale, and diversification
Office portfolio spin-off (Orion Office REIT) is expected to be completed on November 12th, 2021
November 1st, 2021: Introduced preliminary 2022 guidance, inclusive of VEREIT merger (assuming Orion has been spun)
~9%
~4%
>$5
bn
2022 AFFO/sh growth at the midpoint of guidance range
Accretion to 2022 AFFO/sh from the VEREIT merger on a leverage-neutral basis, after excluding
AFFO attributed to Orion (~10% system-wide accretion on a leverage-neutral basis)
2022 acquisition volume guidance
September - October 2021: Commenced expansion into Continental Europe
€157
mm
of real estate leased to Carrefour, one of Europe's largest food retailers
10
Properties, across two transactions, leased under long-term net lease agreements with annual
rent escalators
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