Global Net Lease (NYSE: GNL) raises 2026 AFFO view and details Modiv deal

Rhea-AI Filing Summary

Global Net Lease, Inc. reported Q2 2026 results, combining lower revenue with improved profitability metrics and a stronger balance sheet. Revenue from tenants was $112.5 million versus $124.9 million a year earlier, reflecting prior asset sales, while net loss attributable to common stockholders narrowed to $7.5 million, or $0.04 per share, from $35.1 million, or $0.16 per share. NAREIT FFO was $13.9 million, and AFFO was $45.7 million, or $0.22 per diluted share, compared with $0.24 in Q2 2025, supporting a $0.19 quarterly dividend.

The company highlighted deleveraging and liquidity, having reduced net debt by $629.8 million since Q2 2025 to $2.3 billion and improving Net Debt to Adjusted EBITDA to 6.6x from 7.2x in Q1 2026. Liquidity reached $919.0 million, including $153.6 million of cash and $765.4 million of revolver availability, with 92% of debt at fixed rates and a 4.1% weighted-average interest rate. Portfolio occupancy remained high at 97%, office occupancy rose to 99%, and over 357,000 square feet was leased at a 5.6% renewal spread and 8.4-year weighted-average term, while capital expenditures for the first half fell to $3.4 million from $19.6 million a year earlier.

Strategically, GNL continued reducing office exposure, with year-to-date closed plus pipeline dispositions of $263 million, 78% from office assets, and repurchased 20.9 million common shares for $169.7 million since February 2025. Management raised full-year 2026 AFFO per share guidance from $0.80–$0.84 to $0.82–$0.85 and lifted expected gross transaction volume to $700–$800 million. The pending acquisition of Modiv Industrial is expected to close after an August 10, 2026 shareholder vote and, upon closing, to be immediately 4% accretive to AFFO per share, leverage-neutral within a 6.5x–6.9x Net Debt to Adjusted EBITDA range, and increase industrial assets to 50% of portfolio straight-line rent.

Positive

• Net debt reduced by $629.8 million since Q2 2025, bringing Net Debt to Adjusted EBITDA to 6.6x, alongside liquidity of $919.0 million and 92% of debt at fixed rates, strengthening the balance sheet.
• 2026 AFFO per share guidance raised from $0.80–$0.84 to $0.82–$0.85, and gross transaction volume outlook increased to $700–$800 million, reflecting confidence in executing acquisitions and dispositions.
• Modiv Industrial acquisition is expected to be immediately 4% accretive to AFFO per share, leverage-neutral within a 6.5x–6.9x Net Debt to Adjusted EBITDA range, and increase industrial exposure to 50% of portfolio straight-line rent, upon closing.

Negative

• Revenue declined to $112.5 million in Q2 2026 from $124.9 million a year earlier, and AFFO per diluted share eased to $0.22 from $0.24, highlighting earnings pressure from prior asset dispositions.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q2 2026 revenue: $112.5 million Q2 2025 revenue: $124.9 million Q2 2026 net loss attributable to common stockholders: $7.5 million +5 more

8 metrics

Q2 2026 revenue $112.5 million Revenue from tenants for the quarter ended June 30, 2026

Q2 2025 revenue $124.9 million Revenue from tenants for the quarter ended June 30, 2025

Q2 2026 net loss attributable to common stockholders $7.5 million Net loss attributable to common stockholders in Q2 2026, improved from $35.1 million in Q2 2025

AFFO per diluted common share Q2 2026 $0.22 AFFO per diluted common share for the quarter ended June 30, 2026, versus $0.24 in Q2 2025

Net debt as of June 30, 2026 $2.3 billion Net debt after a $629.8 million reduction since the second quarter of 2025

Liquidity as of June 30, 2026 $919.0 million Includes $765.4 million of revolving credit facility availability and $153.6 million of cash and cash equivalents

Net Debt to Adjusted EBITDA 6.6x Leverage ratio as of June 30, 2026, improved from 7.2x in Q1 2026

Portfolio occupancy 97% Percentage of leased space across 798 properties totaling 39.7 million square feet as of June 30, 2026

Key Terms

Adjusted Funds from Operations, Net Debt to Adjusted EBITDA, cash cap rate, straight-line rent, +1 more

5 terms

Adjusted Funds from Operations financial

"Adjusted Funds from Operations (“AFFO”)1 was $45.7 million, or $0.22 per share"

Adjusted funds from operations is a financial measure that shows how much cash a real estate company generates from its property operations, excluding certain non-recurring items and accounting adjustments. It helps investors understand the company’s true cash flow ability to pay dividends or fund growth. This figure offers a clearer picture of ongoing financial performance by removing irregular or one-time factors that can distort regular income.

Net Debt to Adjusted EBITDA financial

"reduced net debt by $629.8 million since second quarter 2025 while maintaining Net Debt to Adjusted EBITDA at 6.6x"

Net debt to adjusted EBITDA is a leverage ratio that compares a company’s net debt (total interest-bearing debt minus cash) to its recurring operating earnings after removing one-off items. Think of it like how many years of steady take-home pay the business would need to pay off its outstanding debt; investors use it to gauge debt burden, financial risk and relative creditworthiness, with lower ratios generally indicating a safer balance sheet.

cash cap rate financial

"occupied assets were sold at a 7.6% cash cap rate3, with the remaining dispositions"

Cash cap rate is the annual cash income an asset produces divided by its purchase price or current market value, expressed as a percentage. It shows the immediate cash yield an investor gets (excluding non‑cash accounting items like depreciation), so it helps compare how much cash return one investment gives versus another — similar to comparing the rent you’d collect against the price you paid.

straight-line rent financial

"resulting in more than $5.1 million of new straight-line rent"

An accounting method that spreads the total rent cost or rental income evenly across the full lease period, so each reporting period shows the same amount even if actual cash payments vary (for example, due to free months or stepped increases). For investors, straight-line rent matters because it smooths earnings and can hide timing differences between cash flow and reported profit, affecting measures like operating income and the apparent stability of a landlord’s or tenant’s finances—think of turning a lumpy payment schedule into a steady monthly subscription on the books.

NAREIT defined FFO financial

"NAREIT defined FFO attributable to common stockholders was $13,934"

Nareit-defined FFO (Funds From Operations) is a standardized way of measuring the cash-generating performance of real estate investment trusts by starting with net income and adding back property depreciation and removing gains or losses from property sales. It matters to investors because it gives a clearer picture of the recurring cash a property company produces—like comparing operating cash flow instead of a single-year profit figure—making it easier to assess dividend sustainability and compare different REITs.

Earnings Snapshot

Revenue from tenants: $112.5 million · Guidance included

quarter ended June 30, 2026

Revenue from tenants $112.5 million Down from $124.9 million in the second quarter of 2025.

Net loss attributable to common stockholders $7.5 million Improved from a net loss of $35.1 million in the second quarter of 2025.

AFFO per diluted common share $0.22 Compared with $0.24 in the second quarter of 2025.

Guidance

Revised 2026 AFFO per share guidance to $0.82–$0.85 and maintained Net Debt to Adjusted EBITDA target at 6.5x–6.9x, incorporating expected Modiv Industrial contribution.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Understanding 8-K Material Events →

Available on EDGAR 08/05/2026 - 04:18 PM Accepted by SEC EDGAR 08/05/2026 - 04:17 PM Learn about SEC filing dates

FAQ

What were Global Net Lease (GNL) key financial results for Q2 2026?

GNL reported Q2 2026 revenue of $112.5 million and a net loss attributable to common stockholders of $7.5 million, or $0.04 per share. AFFO was $45.7 million, or $0.22 per diluted share, compared with $0.24 a year earlier.

How did Global Net Lease (GNL) change its 2026 AFFO guidance?

GNL raised full-year 2026 AFFO per share guidance to $0.82–$0.85 from an initial range of $0.80–$0.84. Management also increased expected 2026 gross transaction volume to $700–$800 million, incorporating anticipated contributions from the Modiv Industrial acquisition.

What is Global Net Lease (GNL)’s leverage and liquidity position as of June 30, 2026?

As of June 30, 2026, GNL had net debt of $2.3 billion and Net Debt to Adjusted EBITDA of 6.6x. Liquidity totaled $919.0 million, including $153.6 million of cash and $765.4 million of availability under the revolving credit facility.

What is the expected impact of the Modiv Industrial acquisition on GNL?

The Modiv Industrial acquisition is expected to close after an August 10, 2026 shareholder vote. Upon closing, it is expected to be 4% accretive to AFFO per share, leverage-neutral within 6.5x–6.9x, and raise industrial assets to 50% of straight-line rent.

How is Global Net Lease (GNL)’s portfolio performing operationally?

GNL’s portfolio was 97% leased at June 30, 2026, with office occupancy at 99% and a 5.7-year weighted-average lease term. In Q2 2026 it leased over 357,000 square feet at a 5.6% renewal spread and an 8.4-year average renewal term.

What dividends did Global Net Lease (GNL) pay relative to Q2 2026 AFFO?

For Q2 2026, GNL declared a common dividend of $0.19 per share. AFFO per diluted share was $0.22 in the quarter, indicating that the dividend was covered by the company’s adjusted funds from operations.

0001526113FALSE00015261132026-08-052026-08-050001526113us-gaap:CommonStockMember2026-08-052026-08-050001526113us-gaap:SeriesAPreferredStockMember2026-08-052026-08-050001526113us-gaap:SeriesBPreferredStockMember2026-08-052026-08-050001526113us-gaap:SeriesDPreferredStockMember2026-08-052026-08-050001526113us-gaap:SeriesEPreferredStockMember2026-08-052026-08-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):  August 5, 2026

Global Net Lease, Inc.

(Exact Name of Registrant as Specified in its Charter) 

Maryland

001-37390

45-2771978

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

  650 Fifth Avenue, 30th Floor

New York, New York 10019

____________________________________________________________________________________________________________ __________________________________________________________________________________________________

(Address of Principal Executive Offices)                              (Zip Code)

Registrant’s telephone number, including area code: (332) 265-2020

Former name or former address, if changed since last report: Not Applicable

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: 

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to section 12(b) of the Act:

Title of each class

Trading Symbols

Name of each exchange on which registered

Common Stock, $0.01 par value per share

GNL

New York Stock Exchange

7.25% Series A Cumulative Redeemable Preferred Stock, $0.01 par value per share

GNL PR A

New York Stock Exchange

6.875% Series B Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share

GNL PR B

New York Stock Exchange

7.50% Series D Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share

GNL PR D

New York Stock Exchange

7.375% Series E Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share

GNL PR E

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 

                                         Emerging growth company ☐  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐

Item 2.02. Results of Operations and Financial Condition.

On August 5, 2026, Global Net Lease, Inc. (the “Company”) issued a press release announcing its results of operations for the quarter ended June 30, 2026, and supplemental financial information for the quarter ended June 30, 2026, attached hereto as Exhibits 99.1 and 99.2, respectively.

Item 7.01. Regulation FD Disclosure.

Press Release and Supplemental Information 

As disclosed in Item 2.02 above, on August 5, 2026, the Company issued a press release announcing its results of operations for the quarter ended June 30, 2026, and supplemental financial information for the quarter ended June 30, 2026, attached hereto as Exhibits 99.1 and 99.2, respectively. The information set forth in Item 7.01 of this Current Report on Form 8-K and in the attached Exhibits 99.1 and 99.2 is deemed to be “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information set forth in Items 2.02 and 7.01 of this Current Report on Form 8-K, including Exhibits 99.1 and 99.2, shall not be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing. 

The statements in this Current Report on Form 8-K that are not historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. The words such as “may,” “will,” “seeks,” “anticipates,” “believes,” “expects,” “estimates,” “projects,” “potential,” “predicts,” “plans,” “intends,” “would,” “could,” “should” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the risks that any potential future acquisition, including the Modiv transaction, or disposition by the Company is subject to market conditions, capital availability and timing considerations and may not be identified or completed on favorable terms, or at all. Some of the risks and uncertainties, although not all risks and uncertainties, that could cause the Company’s actual results to differ materially from those presented in its forward-looking statements are set forth in the “Risk Factors” and “Quantitative and Qualitative Disclosures About Market Risk” sections in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and all of its other filings with the U.S. Securities and Exchange Commission, as such risks, uncertainties and other important factors may be updated from time to time in the Company’s subsequent reports. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

 Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.						Description
99.1						Press release dated August 5, 2026
99.2						Quarterly supplemental information for the quarter ended June 30, 2026
104						Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL Document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

                             Global Net Lease, Inc.

Date: August 5, 2026			By:			/s/ Edward M. Weil, Jr.
						Name:			Edward M. Weil, Jr.
						Title:			Chief Executive Officer and President

EXHIBIT 99.1

GLOBAL NET LEASE REPORTS SECOND QUARTER 2026 RESULTS

–Reports Q2’26 AFFO Per Share of $0.22; Raises Full-Year AFFO Per Share Guidance to $0.82 – $0.85

and Increases Gross Transaction Volume to $700 Million – $800 Million

–Closed Plus Disposition Pipeline Totals $263 Million, with Office Sales Representing 78%, Further Advancing Strategic Reduction in Office Exposure

–Net Debt to Adjusted EBITDA Improved to 6.6x From 7.2x in Q1’26

–Increased Liquidity to $919 Million and Revolving Credit Facility Capacity to $1.3 Billion

–Acquisition of Modiv Industrial Expected to Close Following Shareholder Vote Scheduled for August 10, 2026

New York, August 5, 2026 - Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”), a publicly traded real estate investment trust that focuses on acquiring and managing a global portfolio of income producing net lease assets across the United States, and Western and Northern Europe, announced today its financial and operating results for the quarter ended June 30, 2026.

Second Quarter 2026 Highlights

•Revenue was $112.5 million, compared to $124.9 million in second quarter 2025, primarily reflecting prior asset dispositions, including the $1.8 billion multi-tenant retail portfolio sale completed in 2025

•Net loss attributable to common stockholders was $7.5 million, compared to a net loss of $35.1 million in second quarter 2025

•Adjusted Funds from Operations (“AFFO”)1 was $45.7 million, or $0.22 per share, compared to $53.1 million in second quarter 2025, or $0.24 per share

•Continued to deploy net proceeds from non-core asset sales to reduce leverage and strengthen the balance sheet; reduced net debt by $629.8 million since second quarter 2025 while maintaining Net Debt to Adjusted EBITDA at 6.6x

•Reduced weighted average interest rate to 4.1% in second quarter 2026, down from 4.3% in second quarter 2025

•Increased liquidity to $919.0 million and Revolving Credit Facility capacity to $1.3 billion in second quarter 2026, compared to $790.0 million and $1.2 billion in second quarter 2025

•Closed plus disposition pipeline totaling $263 million2 year-to-date, of which 78% consists of office sales, further advancing the Company’s strategic reduction in office exposure; occupied assets were sold at a 7.6% cash cap rate3, with the remaining dispositions primarily consisting of vacant assets that the Company expects to eliminate over $1 million of annualized NOI drag

•Repurchased 20.9 million shares of outstanding common stock under the Share Repurchase Program announced in February 2025, at a weighted average price of $8.11, for a total of $169.7 million as of July 31, 2026; this includes 1.2 million shares for a total of $11.1 million repurchased in second quarter 2026

•Portfolio occupancy remained at 97%, with office occupancy increasing to 99% in second quarter 2026 compared to 95% in second quarter 2025

•Leased more than 357,000 square feet, achieving a 5.6% renewal leasing spread and a weighted average renewal term of 8.4 years, resulting in more than $5.1 million of new straight-line rent

•Weighted average annual rent increase of 1.4% provides embedded organic rental growth, excluding 20.3% of the portfolio with CPI-linked leases that have historically experienced significantly higher rent increases

•Reduced capital expenditures to $3.4 million for the six months ended June 30, 2026 from $19.6 million for the six months ended June 30, 2025, reflecting a more streamlined portfolio and generating more than $16 million of savings

•Strengthened sector-leading tenant quality with 63% of annualized straight-line rent derived from investment-grade or implied investment-grade tenants4, up from 60% in second quarter 2025

GlobalNetLease.com (332) 265-2020 | 650 Fifth Avenue, 30th Floor, New York, NY 10019

Acquisition of Modiv Industrial, Inc.

•Transaction is expected to close in mid-August 2026, subject to customary closing conditions, including approval of Modiv’s shareholders on August 10, 2026

•Upon closing, the transaction is expected to be immediately 4% accretive to AFFO per share, while being leverage-neutral within GNL’s stated guidance range of 6.5x – 6.9x, preserving balance sheet strength and financial flexibility

•Upon closing, the transaction is expected to expand GNL’s exposure to high-quality industrial assets to 50% of portfolio straight-line rent, supported by a 15.0 year weighted average lease term5, 2.4% average annual rent escalations6, and a well-recognized tenant base of leading global brands, with 45% of annual base rent derived from investment-grade tenants7

“As we approach the third anniversary of our internalization, GNL is a fundamentally stronger company than when we began this transformation,” said Michael Weil, Chief Executive Officer of GNL. “Through disciplined execution, we have simplified and enhanced the quality of our portfolio, materially reduced leverage, strengthened liquidity, achieved an investment-grade balance sheet, significantly increased our exposure to investment-grade tenants and made meaningful progress reducing our office exposure through value-maximizing dispositions. The anticipated acquisition of Modiv represents a natural next step in that strategy, further improving the quality and durability of our portfolio while remaining consistent with our disciplined approach to capital allocation and balance sheet management. Our increased full-year guidance reflects the momentum we've built and our confidence in the strength of our business and the opportunities ahead. Following my recently announced exit from Bellevue Capital, my personal ownership in GNL will significantly increase, demonstrating my conviction in the strategy we are executing, the platform we have built and the significant long-term value we can create for our shareholders.”

GlobalNetLease.com (332) 265-2020 | 650 Fifth Avenue, 30th Floor, New York, NY 10019

Full Year 2026 Guidance8

The revised full year 2026 guidance presented below reflects the anticipated acquisition of Modiv, based on GNL’s confidence that the transaction will close later this month. It is important to note that this revised guidance includes only approximately one and a half quarters of expected contribution from the accretive Modiv acquisition during 2026.

						Full Year 2026 Guidance
Financial Metric						Initial			Revised
AFFO Per Share						$0.80 – $0.84			$0.82 – $0.85
Net Debt to Adjusted EBITDA						6.5x – 6.9x			6.5x – 6.9x
Gross Transaction Volume						$250M – $350M			$700M – $800M

Gross transaction volume includes both dispositions and acquisitions.

Summary of Results

						Three Months Ended June 30,
(In thousands, except per share data)						2026						2025
Revenue from tenants						$	112,475					$	124,905
Net loss attributable to common stockholders						$	(7,450)					$	(35,079)
Net loss per diluted common share						$	(0.04)					$	(0.16)
NAREIT defined FFO attributable to common stockholders						$	13,934					$	(14,400)
NAREIT defined FFO per diluted common share						$	0.07					$	(0.06)
AFFO attributable to common stockholders						$	45,702					$	53,108
AFFO per diluted common share						$	0.22					$	0.24

Property Portfolio

As of June 30, 2026, GNL’s portfolio of 798 net lease properties is comprised of approximately 40 million rentable square feet located in ten countries and territories. The Company operates in three reportable segments: (1) Industrial & Distribution, (2) Retail and (3) Office. Portfolio metrics include:

•97% leased with a remaining weighted-average lease term of 5.7 years9

•87% of the portfolio contains contractual rent increases based on annualized straight-line rent

•63% of portfolio’s annualized straight-line rent is derived from investment grade and implied investment grade rated tenants

•74% U.S. and Canada, 26% Europe (based on annualized straight-line rent)

•47% Industrial & Distribution, 28% Retail and 25% Office (based on an annualized straight-line rent)

Capital Structure and Liquidity Resources10

As of June 30, 2026, the Company had liquidity of $919.0 million, and $1.3 billion11 of capacity under its Revolving Credit Facility, compared to $790.0 million and $1.2 billion, respectively, as of the end of second quarter 2025. The Company had net debt of $2.3 billion12, including $1.0 billion of gross mortgage debt as of June 30, 2026 and Net Debt to Adjusted EBITDA was 6.6x.

As of June 30, 2026, the percentage of debt that is fixed rate (including variable rate debt fixed with swaps) was 92%. The Company’s total combined debt had a weighted average interest rate of 4.1%, resulting in an interest coverage ratio of 3.2 times13. Weighted-average debt maturity was 2.7 years as of June 30, 202614.

GlobalNetLease.com (332) 265-2020 | 650 Fifth Avenue, 30th Floor, New York, NY 10019

Footnotes/Definitions

1.While we consider AFFO a useful indicator of our performance, we do not consider AFFO as an alternative to net income (loss) or as a measure of liquidity. Furthermore, other REITs may define AFFO differently than we do. Projected AFFO per share data included in this release is for informational purposes only and should not be relied upon as indicative of future dividends or as a measure of future liquidity.

2.Year-to-date disposition pipeline totaling $263 million as of July 31, 2026. Closed plus active disposition pipeline includes $145 million of closed sales approximately $40 million under signed purchase and sale agreements (“PSA”), and approximately $77 million under letters of intent (“LOI”). There can be no assurances that the transactions under such PSA or LOI will be consummated on the above terms, if at all.

3.Excludes dark properties.

4.As used herein, “Investment Grade Rating” includes both actual investment grade ratings of the tenant or guarantor, if available, or implied investment grade. Implied Investment Grade may include actual ratings of tenant parent, guarantor parent (regardless of whether or not the parent has guaranteed the tenant’s obligation under the lease) or by using a proprietary Moody’s analytical tool, which generates an implied rating by measuring a company’s probability of default. The term “parent” for these purposes includes any entity, including any governmental entity, owning more than 50% of the voting stock in a tenant or a guarantor. Ratings information is as of June 30, 2026. Comprised of 38.0% leased to tenants with an actual investment grade rating and 25.3% leased to tenants with an Implied Investment Grade rating based on annualized straight-line rent as of June 30, 2026.

5.Metric based on square feet as of December 31, 2025, adjusted for Modiv’s previously disclosed disposition of Northrop Grumman and Kalera.

6.Metric based on annual base rent as of December 31, 2025, adjusted for Modiv’s previously disclosed disposition of Northrop Grumman and Kalera.

7.Investment Grade includes both actual investment grade ratings of the tenant or guarantor, if available, or implied investment grade. Implied investment grade may include actual ratings of tenant parent, guarantor parent (regardless of whether or not the parent has guaranteed the tenant's obligation under the lease) or by using a proprietary Moody's analytical tool, which generates an implied rating by measuring a company's probability of default. The term "parent" for these purposes includes any entity, including any governmental entity, owning more than 50% of the voting stock in a tenant or a guarantor. Based on Annual Base Rent and as of December 31, 2025, Modiv’s portfolio was 23% actual investment grade rated and 22% implied investment grade rated.

8.We do not provide guidance on net income. We only provide guidance on AFFO per share and our Net Debt to Adjusted EBITDA ratio and do not provide reconciliations of this forward-looking non-GAAP guidance to net income per share or our debt to net income due to the inherent difficulty in quantifying certain items necessary to provide such reconciliations as a result of their unknown effect, timing and potential significance. Examples of such items include impairment of assets, gains and losses from sales of assets, and depreciation and amortization from new acquisitions and other non-recurring expenses.

9.Weighted-average remaining lease term in years is based on square feet as of June 30, 2026.

10.During the three months ended June 30, 2026, the Company did not sell any shares of Common Stock through its Common Stock “at-the-market” program. However, as of July 31, 2026, the Company had repurchased 20.9 million shares of outstanding common stock under its Share Repurchase Program announced in February 2025 for a total of $169.7 million; this includes 1.2 million shares for a total of $11.1 million repurchased in second quarter 2026.

11.Liquidity represents the aggregate amount of cash and cash equivalents and borrowing availability under our Revolving Credit Facility, utilizing the value of our applicable assets as of June 30, 2026 for the borrowing base calculation under such facility, and capacity represents the total undrawn commitments under our Revolving Credit Facility. Liquidity includes $765.4 million of availability under the Revolving Credit Facility and $153.6 million of cash and cash equivalents as of June 30, 2026.

12.Comprised of the principal amount of GNL's outstanding debt totaling $2.5 billion less cash and cash equivalents totaling $153.6 million, as of June 30, 2026.

13.The interest coverage ratio is calculated by dividing Adjusted EBITDA for the applicable quarter by cash paid for interest (calculated based on interest expense less non-cash portion of interest expense). Management believes that Interest Coverage Ratio is a useful supplemental measure of our ability to service our debt obligations. Adjusted EBITDA and Cash Paid for Interest are Non-GAAP metrics and are reconciled below.

14.Assumes we exercise both 6-month extension options on our Revolving Credit Facility.

GlobalNetLease.com (332) 265-2020 | 650 Fifth Avenue, 30th Floor, New York, NY 10019

Conference Call 

GNL will host a webcast and conference call on August 6, 2026 at 11:00 a.m. ET to discuss its financial and operating results. To listen to the live call, please go to GNL’s “Investor Relations” section of the website at least 15 minutes prior to the start of the call to register and download any necessary audio software.

Dial-in instructions for the conference call and the replay are outlined below.

Conference Call Details

Live Call

Dial-In (Toll Free): 1-877-407-0792

International Dial-In: 1-201-689-8263

Conference Replay*

For those who are not able to listen to the live broadcast, a replay will be available shortly after the call on the GNL website at www.globalnetlease.com.

Or dial in below:

Domestic Dial-In (Toll Free): 1-844-512-2921

International Dial-In: 1-412-317-6671

Conference Number: 13761120

*Available from 2:00 p.m. ET on August 6, 2026 through November 6, 2026.

Supplemental Schedules 

The Company will furnish supplemental information packages with the Securities and Exchange Commission (the “SEC”) to provide additional disclosure and financial information. Once posted, the supplemental package can be found under the “Presentations” tab in the Investor Relations section of GNL’s website at www.globalnetlease.com and on the SEC website at www.sec.gov. 

About Global Net Lease, Inc. 

Global Net Lease, Inc. (NYSE: GNL) is a publicly traded real estate investment trust that focuses on acquiring and managing a global portfolio of income producing net lease assets across the United States, and Western and Northern Europe. Additional information about GNL can be found on its website at www.globalnetlease.com.

Forward-Looking Statements

The statements in this press release that are not historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of risks and uncertainties that could cause the outcome to be materially different. The words such as “may,” “will,” “seeks,” “anticipates,” “believes,” “estimates,” “projects,” “potential,” “predicts,” “expects,” “plans,” “intends,” “would,” “could,” “should” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the risks that any potential future acquisition, including the Modiv transaction, or disposition by the Company is subject to market conditions, capital availability and timing considerations and may not be identified or completed on favorable terms, or at all. Some of the risks and uncertainties, although not all risks and uncertainties, that could cause the Company’s actual results to differ materially from those presented in its forward-looking statements are set forth in the “Risk Factors” and “Quantitative and Qualitative Disclosures about Market Risk” sections in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and all of its other filings with the U.S. Securities and Exchange Commission, as such risks, uncertainties and other important factors may be updated from time to time in the Company’s subsequent reports. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

Contacts: 

Investors and Media:

Email: investorrelations@globalnetlease.com

Phone: (332) 265-2020

GlobalNetLease.com (332) 265-2020 | 650 Fifth Avenue, 30th Floor, New York, NY 10019

Global Net Lease, Inc.

Consolidated Balance Sheets (Unaudited)

(Amounts in thousands)

						June 30, 2026						December 31, 2025
ASSETS
Real estate investments, at cost:
Land						$	636,934					$	659,086
Buildings, fixtures and improvements						3,468,728						3,592,121
Construction in progress						406						2,993
Acquired intangible lease assets						492,330						523,406
Total real estate investments, at cost						4,598,398						4,777,606
Less accumulated depreciation and amortization						(989,221)						(966,982)
Total real estate investments, net						3,609,177						3,810,624
Real estate assets held for sale						33,834						49,654
Assets related to discontinued operations						—						348
Cash and cash equivalents						153,640						180,114
Restricted cash						14,352						13,949
Derivative assets, at fair value						978						7
Unbilled straight-line rent						71,952						72,919
Operating lease right-of-use asset						60,958						63,362
Prepaid expenses and other assets						53,636						60,415
Multi-tenant disposition receivable, net						2,475						27,934
Deferred tax assets						5,105						5,167
Goodwill						45,516						45,898
Deferred financing costs, net						14,465						16,812
Total Assets						$	4,066,088					$	4,347,203
LIABILITIES AND EQUITY
Mortgage notes payable, net						$	986,880					$	1,264,604
Revolving credit facility						472,946						324,165
Senior notes, net						940,019						928,169
Acquired intangible lease liabilities, net						15,781						17,501
Derivative liabilities, at fair value						1,797						5,298
Accounts payable and accrued expenses						42,771						43,821
Operating lease liability						40,043						41,429
Prepaid rent						26,962						28,254
Deferred tax liability						17,403						17,796
Dividends payable						11,623						11,718
Real estate liabilities held for sale						164						60
Liabilities related to discontinued operations						596						890
Total Liabilities						2,556,985						2,683,705
Commitments and contingencies						—						—
Stockholders' Equity:
7.25% Series A cumulative redeemable preferred stock						68						68
6.875% Series B cumulative redeemable perpetual preferred stock						47						47
7.50% Series D cumulative redeemable perpetual preferred stock						79						79
7.375% Series E cumulative redeemable perpetual preferred stock						46						46
Common stock						3,440						3,490
Additional paid-in capital						4,205,625						4,249,018
Accumulated other comprehensive income						16,480						22,169
Accumulated deficit						(2,716,682)						(2,611,419)
Total Stockholders’ Equity						1,509,103						1,663,498
Total Liabilities and Equity						$	4,066,088					$	4,347,203

GlobalNetLease.com (332) 265-2020 | 650 Fifth Avenue, 30th Floor, New York, NY 10019

Global Net Lease, Inc.

Consolidated Statements of Operations (Unaudited)

(Amounts in thousands, except per share data)

						Three Months Ended June 30,
						2026						2025
Revenue from tenants						$	112,475					$	124,905
Expenses:
Property operating						13,400						12,018
Impairment charges						3,695						9,812
Merger, transaction and other costs						6,561						2,002
General and administrative						11,884						11,339
Equity-based compensation						3,942						3,338
Depreciation and amortization						41,512						45,636
Total expenses						80,994						84,145
Operating income before gain on dispositions of real estate investments						31,481						40,760
Gain on dispositions of real estate investments						23,250						1,537
Operating income						54,731						42,297
Other income (expense):
Interest expense						(38,820)						(53,348)
Loss on extinguishment and modification of debt						(11,911)						(4,348)
Loss on derivative instruments						(302)						(8,823)
Unrealized gains (losses) on undesignated foreign currency advances and other hedge ineffectiveness						1,816						(6,324)
Other income						276						1,683
Total other expense, net						(48,941)						(71,160)
Net income (loss) before income tax						5,790						(28,863)
Income tax provision						(4,775)						(2,995)
Income (loss) from continuing operations						1,015						(31,858)
Income from discontinued operations						2,471						7,715
Net income (loss)						3,486						(24,143)
Preferred stock dividends						(10,936)						(10,936)
Net loss attributable to common stockholders						$	(7,450)					$	(35,079)
Basic and Diluted Loss Per Share:
Net loss per share from continuing operations						$	(0.05)					$	(0.19)
Net income per share from discontinued operations						0.01						0.03
Net loss per share attributable to common stockholders — Basic and Diluted						$	(0.04)					$	(0.16)
Weighted average shares outstanding — Basic and Diluted						211,339						222,960

GlobalNetLease.com (332) 265-2020 | 650 Fifth Avenue, 30th Floor, New York, NY 10019

Global Net Lease, Inc.

Quarterly Reconciliation of Non-GAAP Measures (Unaudited)

(Amounts in thousands)

						Three Months Ended June 30,
						2026						2025
EBITDA and Adjusted EBITDA:
Net income (loss)						$	3,486					$	(24,143)
Depreciation and amortization						41,512						45,636
Interest expense						38,820						53,348
Income tax expense						4,775						2,995
Discontinued operations adjustments						—						6,375
EBITDA						88,593						84,211
Impairment charges						3,695						9,812
Equity-based compensation						3,942						3,338
Merger, transaction and other costs						6,561						2,002
Gain on dispositions of real estate investments						(23,250)						(1,537)
Loss on derivative instruments						302						8,823
Unrealized (gains) losses on undesignated foreign currency advances and other hedge ineffectiveness						(1,816)						6,324
Loss on extinguishment and modification of debt						11,911						4,348
Other income						(275)						(1,683)
Write offs of straight-line rent						773						68
Discontinued operations adjustments						(1,621)						(2,279)
Adjusted EBITDA						88,815						113,427
Net operating income (NOI) and Cash NOI:
General and administrative						11,884						11,339
Write offs of straight-line rent						(773)						(68)
Discontinued operations adjustments						(850)						1,395
NOI						99,076						126,093
Amortization related to above- and below- market lease intangibles and right-of-use assets, net						1,088						1,232
Straight-line rent						378						(2,959)
Cash NOI						$	100,542					$	124,366
Cash Paid for Interest:
Interest Expense - continuing operations						$	38,820					$	53,348
Interest Expense - discontinued operations						—						6,374
Non-cash portion of interest expense						(2,271)						(2,499)
Amortization of discounts on mortgages and senior notes						(8,685)						(14,609)
Total cash paid for interest						$	27,864					$	42,614

GlobalNetLease.com (332) 265-2020 | 650 Fifth Avenue, 30th Floor, New York, NY 10019

Global Net Lease, Inc.

Quarterly Reconciliation of Non-GAAP Measures (Unaudited)

(Amounts in thousands, except per share data)

						Three Months Ended June 30,
						2026						2025
Net loss attributable to stockholders (in accordance with GAAP)						$	(7,450)					$	(35,079)
Impairment charges						3,695						9,812
Depreciation and amortization						41,512						45,636
Gain on dispositions of real estate investments						(23,250)						(1,537)
Discontinued operations FFO adjustments						(573)						(33,232)
FFO (defined by NAREIT)						13,934						(14,400)
Merger, transaction and other costs						6,561						2,002
Loss on extinguishment and modification of debt						11,911						4,348
Discontinued operations Core FFO adjustments						—						15,172
Core FFO attributable to common stockholders						32,406						7,122
Non-cash equity-based compensation						3,942						3,338
Non-cash portion of interest expense						2,271						2,499
Amortization related to above- and below-market lease intangibles and right-of-use assets, net						1,088						1,232
Straight-line rent						378						(2,959)
Unrealized (gains) losses on undesignated foreign currency advances and other hedge ineffectiveness						(1,816)						6,324
Eliminate unrealized (gains) losses on foreign currency transactions [1]						(59)						7,177
Amortization of discounts on mortgages and senior notes						8,685						14,609
Eliminate (gains) losses related to multi-tenant disposition receivable [2]						(1,039)						13,766
Forfeited disposition deposit [3]						(154)						—
Adjusted funds from operations (AFFO) attributable to common stockholders						$	45,702					$	53,108
Net loss per share attributable to common stockholders						$	(0.04)					$	(0.16)
FFO per diluted common share						$	0.07					$	(0.06)
Core FFO per diluted common share						$	0.15					$	0.03
AFFO per diluted common share						$	0.22					$	0.24
Dividends declared to common stockholders						$	40,640					$	43,429

__________

[1] For AFFO purposes, we adjust for unrealized gains and losses. For the three months ended June 30, 2026, loss on derivative instruments was $0.3 million, which consisted of unrealized gains of $0.1 million and realized losses of $0.4 million. For the three months ended June 30, 2025, the loss on derivative instruments was $8.8 million, which consisted of unrealized losses of $7.2 million and realized losses of $1.6 million.

[2] Represents adjustments to the fair value of the embedded derivative feature of the multi-tenant disposition receivable. We do not consider these adjustments to be indicative of our normal operating performance and have, accordingly, increased or (decreased) AFFO for this amount.

[3] Amount is recorded in other income in our consolidated statement of operations. We do not consider this income to be part of our normal operating performance and have, accordingly, decreased AFFO for this amount.

GlobalNetLease.com (332) 265-2020 | 650 Fifth Avenue, 30th Floor, New York, NY 10019

The following table provides operating financial information for the Company’s reportable segments:

						Three Months Ended June 30,
(In thousands)						2026						2025
Industrial & Distribution:
Revenue from tenants						$	51,692					$	54,997
Property operating expense						5,644						4,235
Net Operating Income						$	46,048					$	50,762
Retail:
Revenue from tenants						$	29,995					$	35,357
Property operating expense						3,828						3,002
Net Operating Income						$	26,167					$	32,355
Office:
Revenue from tenants						$	30,788					$	34,551
Property operating expense						3,928						4,781
Net Operating Income						$	26,860					$	29,770

GlobalNetLease.com (332) 265-2020 | 650 Fifth Avenue, 30th Floor, New York, NY 10019

Caution on Use of Non-GAAP Measures

Funds from Operations (“FFO”), Core Funds from Operations (“Core FFO”), Adjusted Funds from Operations (“AFFO”), Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”), Net Operating Income (“NOI”) and Cash Net Operating Income (“Cash NOI”) and Cash Paid for Interest should not be construed to be more relevant or accurate than the current GAAP methodology in calculating net income or in its applicability in evaluating our operating performance. The method utilized to evaluate the value and performance of real estate under GAAP should be construed as a more relevant measure of operational performance and considered more prominently than the non-GAAP measures.

Other REITs may not define FFO in accordance with the current National Association of Real Estate Investment Trusts (“NAREIT”) definition (as we do), or may interpret the current NAREIT definition differently than we do, or may calculate Core FFO or AFFO differently than we do. Consequently, our presentation of FFO, Core FFO and AFFO may not be comparable to other similarly-titled measures presented by other REITs in our peer group.

We consider FFO, Core FFO and AFFO useful indicators of our performance. Because FFO, Core FFO and AFFO calculations exclude such factors as depreciation and amortization of real estate assets and gain or loss from sales of operating real estate assets (which can vary among owners of identical assets in similar conditions based on historical cost accounting and useful-life estimates), FFO, Core FFO and AFFO presentations facilitate comparisons of operating performance between periods and between other REITs in our peer group.

As a result, we believe that the use of FFO, Core FFO and AFFO, together with the required GAAP presentations, provide a more complete understanding of our operating performance including relative to our peers and a more informed and appropriate basis on which to make decisions involving operating, financing, and investing activities. However, FFO, Core FFO and AFFO are not indicative of cash available to fund ongoing cash needs, including the ability to make cash distributions. Investors are cautioned that FFO, Core FFO and AFFO should only be used to assess the sustainability of our operating performance excluding these activities, as they exclude certain costs that have a negative effect on our operating performance during the periods in which these costs are incurred.

Funds from Operations, Core Funds from Operations and Adjusted Funds from Operations

Funds From Operations

Due to certain unique operating characteristics of real estate companies, as discussed below, NAREIT, an industry trade group, has promulgated a measure known as FFO, which we believe to be an appropriate supplemental measure to reflect the operating performance of a REIT. FFO is not equivalent to net income or loss as determined under GAAP.

We calculate FFO, a non-GAAP measure, consistent with the standards established over time by the Board of Governors of NAREIT, as restated in a White Paper approved by the Board of Governors of NAREIT effective in December 2018 (the "White Paper"). The White Paper defines FFO as net income or loss computed in accordance with GAAP, excluding depreciation and amortization related to real estate, gain and loss from the sale of certain real estate assets, gain and loss from change in control and impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity. Adjustments for unconsolidated partnerships and joint ventures are calculated to exclude the proportionate share of the non-controlling interest to arrive at FFO, Core FFO, AFFO and NOI attributable to stockholders, as applicable. Our FFO calculation complies with NAREIT's definition.

FFO includes adjustments related to the treatment of the sale of the Multi-Tenant Retail Portfolio as a discontinued operation, which includes adjustments for depreciation and amortization and loss (gain) on dispositions of real estate investments.

The historical accounting convention used for real estate assets requires straight-line depreciation of buildings and improvements, and straight-line amortization of intangibles, which implies that the value of a real estate asset diminishes predictably over time. We believe that, because real estate values historically rise and fall with market conditions, including inflation, interest rates, unemployment and consumer spending, presentations of operating results for a REIT using historical accounting for depreciation and certain other items may be less informative. Historical accounting for real estate involves the use of GAAP. Any other method of accounting for real estate such as the fair value method cannot be construed to be any more accurate or relevant than the comparable methodologies of real estate valuation found in GAAP. Nevertheless, we believe that the use of FFO, which excludes the impact of real estate related depreciation and amortization, among other things, provides a more complete understanding of our performance to investors and to management, and when compared year over year, reflects the impact on our operations from trends in occupancy rates, rental rates, operating costs, general and administrative expenses, and interest costs, which may not be immediately apparent from net income.

GlobalNetLease.com (332) 265-2020 | 650 Fifth Avenue, 30th Floor, New York, NY 10019

Core Funds From Operations

In calculating Core FFO, we start with FFO, then we exclude certain non-core items such as merger, transaction and other costs, as well as certain other costs that are considered to be non-core, such as debt extinguishment or modification costs. The purchase of properties, and the corresponding expenses associated with that process, is a key operational feature of our core business plan to generate operational income and cash flows in order to make dividend payments to stockholders. In evaluating investments in real estate, we differentiate the costs to acquire the investment from the subsequent operations of the investment. We also add back non-cash write-offs of deferred financing costs, prepayment penalties and certain other costs incurred with the early extinguishment or modification of debt which are included in net income but are considered financing cash flows when paid in the statement of cash flows. We consider these write-offs and prepayment penalties to be capital transactions and not indicative of operations. By excluding expensed merger, transaction and other costs as well as non-core costs, we believe Core FFO provides useful supplemental information that is comparable for each type of real estate investment and is consistent with management's analysis of the investing and operating performance of our properties.

Core FFO includes adjustments related to the treatment of the sale of the Multi-Tenant Retail Portfolio as a discontinued operation, which includes adjustments for merger and transaction costs and loss on extinguishment of debt.

Adjusted Funds From Operations

In calculating AFFO, we start with Core FFO, then we exclude certain income or expense items from AFFO that we consider more reflective of investing activities, other non-cash income and expense items and the income and expense effects of other activities or items, including items that were paid in cash that are not a fundamental attribute of our business plan or were one time or non-recurring items. These items include, for example, early extinguishment or modification of debt and other items excluded in Core FFO as well as unrealized gain and loss, which may not ultimately be realized, such as gain or loss on derivative instruments, gain or loss on foreign currency transactions, and gain or loss on investments. In addition, by excluding non-cash income and expense items such as amortization of above-market and below-market leases intangibles, amortization of deferred financing costs, straight-line rent and equity-based compensation from AFFO, we believe we provide useful information regarding income and expense items which have a direct impact on our ongoing operating performance. We also exclude revenue attributable to the reimbursement by third parties of financing costs that we originally incurred because these revenues are not, in our view, related to operating performance. We also include the realized gain or loss on foreign currency exchange contracts for AFFO as such items are part of our ongoing operations and affect our current operating performance.

In calculating AFFO, we also exclude certain expenses which under GAAP are treated as operating expenses in determining operating net income. All paid and accrued merger, transaction and other costs (including prepayment penalties for debt extinguishments or modifications) and certain other expenses negatively impact our operating performance during the period in which expenses are incurred or properties are acquired and will also have negative effects on returns to investors, but are excluded by us as we believe they are not reflective of our on-going performance. Further, under GAAP, certain contemplated non-cash fair value and other non-cash adjustments are considered operating non-cash adjustments to net income. In addition, as discussed above, we view gain and loss from fair value adjustments as items which are unrealized and may not ultimately be realized and not reflective of ongoing operations and are therefore typically adjusted for when assessing operating performance. Excluding income and expense items detailed above from our calculation of AFFO provides information consistent with management's analysis of our operating performance. Additionally, fair value adjustments, which are based on the impact of current market fluctuations and underlying assessments of general market conditions, but can also result from operational factors such as rental and occupancy rates, may not be directly related or attributable to our current operating performance. By excluding such changes that may reflect anticipated and unrealized gain or loss, we believe AFFO provides useful supplemental information. By providing AFFO, we believe we are presenting useful information that can be used to, among other things, assess our performance without the impact of transactions or other items that are not related to our portfolio of properties. AFFO presented by us may not be comparable to AFFO reported by other REITs that define AFFO differently. Furthermore, we believe that in order to facilitate a clear understanding of our operating results, AFFO should be examined in conjunction with net income (loss) calculated in accordance with GAAP and presented in our consolidated financial statements. AFFO should not be considered as an alternative to net income (loss) as an indication of our performance or to cash flows as a measure of our liquidity or ability to make distributions.

GlobalNetLease.com (332) 265-2020 | 650 Fifth Avenue, 30th Floor, New York, NY 10019

Adjusted Earnings before Interest, Taxes, Depreciation and Amortization, Net Operating Income, Cash Net Operating Income and Cash Paid for Interest

We believe that Adjusted EBITDA, which is defined as earnings before interest, taxes, depreciation and amortization adjusted for merger, transaction and other costs, other non-cash items and including our pro-rata share from unconsolidated joint ventures, is an appropriate measure of our ability to incur and service debt. We also exclude revenue attributable to the reimbursement by third parties of financing costs that we originally incurred because these revenues are not, in our view, related to operating performance. All paid and accrued merger, transaction and other costs (including prepayment penalties for debt extinguishments or modifications) and certain other expenses negatively impact our operating performance during the period in which expenses are incurred or properties are acquired and will also have negative effects on returns to investors, but are not reflective of on-going performance. Adjusted EBITDA should not be considered as an alternative to cash flows from operating activities, as a measure of our liquidity or as an alternative to net income (loss) as calculated in accordance with GAAP as an indicator of our operating activities. Other REITs may calculate Adjusted EBITDA differently and our calculation should not be compared to that of other REITs.

EBITDA includes adjustments related to the treatment of the sale of the Multi-Tenant Retail Portfolio as a discontinued operation, which includes adjustments for depreciation and amortization and interest expense. Adjusted EBITDA includes adjustments related to the treatment of the sale of the Multi-Tenant Retail Portfolio as a discontinued operation, which includes adjustments for merger, transaction and other costs, (loss) gain on dispositions of real estate investments, loss (gain) on derivative instruments, loss on extinguishment of debt and other income (expense).

NOI is a non-GAAP financial measure equal to net income (loss), the most directly comparable GAAP financial measure, less discontinued operations, interest, other income and income from preferred equity investments and investment securities, plus corporate general and administrative expense, merger, transaction and other costs, depreciation and amortization, other non-cash expenses and interest expense. We use NOI internally as a performance measure and believe NOI provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Therefore, we believe NOI is a useful measure for evaluating the operating performance of our real estate assets and to make decisions about resource allocations. Further, we believe NOI is useful to investors as a performance measure because, when compared across periods, NOI reflects the impact on operations from trends in occupancy rates, rental rates, operating costs and acquisition activity on an unlevered basis, providing perspective not immediately apparent from net income. NOI excludes certain components from net income in order to provide results that are more closely related to a property's results of operations. For example, interest expense is not necessarily linked to the operating performance of a real estate asset and is often incurred at the corporate level as opposed to the property level. In addition, depreciation and amortization, because of historical cost accounting and useful life estimates, may distort operating performance at the property level. NOI presented by us may not be comparable to NOI reported by other REITs that define NOI differently. We believe that in order to facilitate a clear understanding of our operating results, NOI should be examined in conjunction with net income (loss) as presented in our consolidated financial statements. NOI should not be considered as an alternative to net income (loss) as an indication of our performance or to cash flows as a measure of our liquidity.

Cash NOI is a non-GAAP financial measure that is intended to reflect the performance of our properties. We define Cash NOI as net operating income (which is separately defined herein) excluding amortization of above/below market lease intangibles and straight-line rent adjustments that are included in GAAP lease revenues. We believe that Cash NOI is a helpful measure that both investors and management can use to evaluate the current financial performance of our properties and it allows for comparison of our operating performance between periods and to other REITs. Cash NOI should not be considered as an alternative to net income, as an indication of our financial performance, or to cash flows as a measure of liquidity or our ability to fund all needs. The method by which we calculate and present Cash NOI may not be directly comparable to the way other REITs calculate and present Cash NOI.

Cash NOI includes all of the adjustments described above for Adjusted EBITDA related to the treatment of the sale of the Multi-Tenant Retail Portfolio as a discontinued operation, as well as adjustments for general and administrative expenses.

Cash Paid for Interest is calculated based on the interest expense less non-cash portion of interest expense and amortization of mortgage (discount) premium, net. Management believes that Cash Paid for Interest provides useful information to investors to assess our overall solvency and financial flexibility. Cash Paid for Interest should not be considered as an alternative to interest expense as determined in accordance with GAAP or any other GAAP financial measures and should only be considered together with and as a supplement to our financial information prepared in accordance with GAAP.

GlobalNetLease.com (332) 265-2020 | 650 Fifth Avenue, 30th Floor, New York, NY 10019

EXHIBIT 99.2

Global Net Lease, Inc.

Supplemental Information

Quarter ended June 30, 2026 (unaudited)

Global Net Lease, Inc.

Supplemental Information

Quarter ended June 30, 2026 (Unaudited)

Table of Contents
Item			Page
Non-GAAP Definitions			3
Key Metrics			6
Consolidated Balance Sheets			7
Consolidated Statements of Operations			8
Non-GAAP Measures			9
Debt Overview			11
Future Minimum Lease Rents			12
Diversification by Property Type			13
Diversification by Tenant Industry			14
Top Twenty Tenants			15
Diversification by Geography			16
Lease Expirations			17
Please note that totals may not add due to rounding.

Forward-looking Statements:

The statements in this supplemental package of Global Net Lease, Inc. (the “Company”) that are not historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. The words such as “may,” “will,” “seeks,” “anticipates,” “believes,” “expects,” “estimates,” “projects,” “potential,” “predicts,” “plans,” “intends,” “would,” “could,” “should” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company's control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the risks that any potential future acquisition, including the Modiv transaction, or disposition by the Company is subject to market conditions, capital availability and timing considerations and may not be identified or completed on favorable terms, or at all. Some of the risks and uncertainties, although not all risks and uncertainties, that could cause the Company’s actual results to differ materially from those presented in its forward-looking statements are set forth in the “Risk Factors” and “Quantitative and Qualitative Disclosures about Market Risk” sections in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and all of its other filings with the U.S. Securities and Exchange Commission, as such risks, uncertainties and other important factors may be updated from time to time in the Company’s subsequent reports. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

Supplemental Information 2 Global Net Lease, Inc.

Global Net Lease, Inc.

Supplemental Information

Quarter ended June 30, 2026 (Unaudited)

Non-GAAP Financial Measures

This section discusses non-GAAP financial measures we use to evaluate our performance, including Funds from Operations (“FFO”), Core Funds from Operations (“Core FFO”), Adjusted Funds from Operations (“AFFO”), Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”), Net Operating Income (“NOI”), Cash Net Operating Income (“Cash NOI”) and Cash Paid for Interest. While NOI is a property-level measure, AFFO is based on total Company performance and therefore reflects the impact of other items not specifically associated with NOI such as, interest expense, general and administrative expenses and operating fees to related parties. Additionally, NOI as defined herein, does not reflect an adjustment for straight-line rent but AFFO does include this adjustment. A description of these non-GAAP measures and reconciliations to the most directly comparable GAAP measure, which is net income, is provided below.

Caution on Use of Non-GAAP Measures

FFO, Core FFO, AFFO, Adjusted EBITDA, NOI, Cash NOI and Cash Paid For Interest should not be construed to be more relevant or accurate than the current GAAP methodology in calculating net income or in its applicability in evaluating our operating performance. The method utilized to evaluate the value and performance of real estate under GAAP should be construed as a more relevant measure of operational performance and considered more prominently than the non-GAAP measures.

Other REITs may not define FFO in accordance with the current National Association of Real Estate Investment Trusts (“NAREIT”) definition (as we do), or may interpret the current NAREIT definition differently than we do, or may calculate Core FFO or AFFO differently than we do. Consequently, our presentation of FFO, Core FFO and AFFO may not be comparable to other similarly-titled measures presented by other REITs.

We consider FFO, Core FFO and AFFO useful indicators of our performance. Because FFO, Core FFO and AFFO calculations exclude such factors as depreciation and amortization of real estate assets and gain or loss from sales of operating real estate assets (which can vary among owners of identical assets in similar conditions based on historical cost accounting and useful-life estimates), FFO, Core FFO and AFFO presentations facilitate comparisons of operating performance between periods and between other REITs in our peer group.

As a result, we believe that the use of FFO, Core FFO and AFFO, together with the required GAAP presentations, provide a more complete understanding of our operating performance including relative to our peers and a more informed and appropriate basis on which to make decisions involving operating, financing, and investing activities. However, FFO, Core FFO and AFFO are not indicative of cash available to fund ongoing cash needs, including the ability to make cash distributions. Investors are cautioned that FFO, Core FFO and AFFO should only be used to assess the sustainability of our operating performance excluding these activities, as they exclude certain costs that have a negative effect on our operating performance during the periods in which these costs are incurred.

Funds from Operations, Core Funds from Operations and Adjusted Funds from Operations

Funds From Operations

Due to certain unique operating characteristics of real estate companies, as discussed below, NAREIT, an industry trade group, has promulgated a measure known as FFO, which we believe to be an appropriate supplemental measure to reflect the operating performance of a REIT. FFO is not equivalent to net income or loss as determined under GAAP.

We calculate FFO, a non-GAAP measure, consistent with the standards established over time by the Board of Governors of NAREIT, as restated in a White Paper approved by the Board of Governors of NAREIT effective in December 2018 (the “White Paper”). The White Paper defines FFO as net income or loss computed in accordance with GAAP, excluding depreciation and amortization related to real estate, gain and loss from the sale of certain real estate assets, gain and loss from change in control and impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity. Adjustments for unconsolidated partnerships and joint ventures are calculated to exclude the proportionate share of the non-controlling interest to arrive at FFO, Core FFO, AFFO and NOI attributable to stockholders, as applicable. Our FFO calculation complies with NAREIT’s definition.

FFO includes adjustments related to the treatment of the sale of the Multi-Tenant Retail Portfolio as a discontinued operation, which includes adjustments for depreciation and amortization and loss (gain) on dispositions of real estate investments.

The historical accounting convention used for real estate assets requires straight-line depreciation of buildings and improvements, and straight-line amortization of intangibles, which implies that the value of a real estate asset diminishes predictably over time. We believe that, because real estate values historically rise and fall with market conditions, including inflation, interest rates, unemployment and consumer spending, presentations of operating results for a REIT using historical accounting for depreciation and certain other items may be less informative. Historical accounting for real estate involves the use of GAAP. Any other method of accounting for real estate such as the fair value method cannot be construed to be any more accurate or relevant than the comparable methodologies of real estate valuation found in GAAP. Nevertheless, we believe that the use of FFO, which excludes the impact of real estate related depreciation and amortization, among other things, provides a more complete understanding of our performance to investors and to

Supplemental Information 3 Global Net Lease, Inc.

Global Net Lease, Inc.

Supplemental Information

Quarter ended June 30, 2026 (Unaudited)

management, and, when compared year over year, reflects the impact on our operations from trends in occupancy rates, rental rates, operating costs, general and administrative expenses, and interest costs, which may not be immediately apparent from net income.

Core Funds From Operations

In calculating Core FFO, we start with FFO, then we exclude certain non-core items such as merger, transaction and other costs, as well as certain other costs that are considered to be non-core, such as debt extinguishment or modification costs. The purchase of properties, and the corresponding expenses associated with that process, is a key operational feature of our core business plan to generate operational income and cash flows in order to make dividend payments to stockholders. In evaluating investments in real estate, we differentiate the costs to acquire the investment from the subsequent operations of the investment. We also add back non-cash write-offs of deferred financing costs, prepayment penalties and certain other costs incurred with the early extinguishment or modification of debt which are included in net income but are considered financing cash flows when paid in the statement of cash flows. We consider these write-offs and prepayment penalties to be capital transactions and not indicative of operations. By excluding expensed merger, transaction and other costs as well as non-core costs, we believe Core FFO provides useful supplemental information that is comparable for each type of real estate investment and is consistent with management’s analysis of the investing and operating performance of our properties.

Core FFO includes adjustments related to the treatment of the sale of the Multi-Tenant Retail Portfolio as a discontinued operation, which includes adjustments for merger and transaction costs and loss on extinguishment of debt.

Adjusted Funds From Operations

In calculating AFFO, we start with Core FFO, then we exclude certain income or expense items from AFFO that we consider more reflective of investing activities, other non-cash income and expense items and the income and expense effects of other activities or items, including items that were paid in cash that are not a fundamental attribute of our business plan or were one time or non-recurring items. These items include, for example, early extinguishment or modification of debt and other items excluded in Core FFO as well as unrealized gain and loss, which may not ultimately be realized, such as gain or loss on derivative instruments, gain or loss on foreign currency transactions, and gain or loss on investments. In addition, by excluding non-cash income and expense items such as amortization of above-market and below-market leases intangibles, amortization of deferred financing costs, straight-line rent and equity-based compensation from AFFO, we believe we provide useful information regarding income and expense items which have a direct impact on our ongoing operating performance. We also exclude revenue attributable to the reimbursement by third parties of financing costs that we originally incurred because these revenues are not, in our view, related to operating performance. We also include the realized gain or loss on foreign currency exchange contracts for AFFO as such items are part of our ongoing operations and affect our current operating performance.

In calculating AFFO, we also exclude certain expenses which under GAAP are treated as operating expenses in determining operating net income. All paid and accrued merger, transaction and other costs (including prepayment penalties for debt extinguishments or modifications) and certain other expenses negatively impact our operating performance during the period in which expenses are incurred or properties are acquired and will also have negative effects on returns to investors, but are excluded by us as we believe they are not reflective of our on-going performance. Further, under GAAP, certain contemplated non-cash fair value and other non-cash adjustments are considered operating non-cash adjustments to net income. In addition, as discussed above, we view gain and loss from fair value adjustments as items which are unrealized and may not ultimately be realized and not reflective of ongoing operations and are therefore typically adjusted for when assessing operating performance. Excluding income and expense items detailed above from our calculation of AFFO provides information consistent with management’s analysis of our operating performance. Additionally, fair value adjustments, which are based on the impact of current market fluctuations and underlying assessments of general market conditions, but can also result from operational factors such as rental and occupancy rates, may not be directly related or attributable to our current operating performance. By excluding such changes that may reflect anticipated and unrealized gain or loss, we believe AFFO provides useful supplemental information. By providing AFFO, we believe we are presenting useful information that can be used to, among other things, assess our performance without the impact of transactions or other items that are not related to our portfolio of properties. AFFO presented by us may not be comparable to AFFO reported by other REITs that define AFFO differently. Furthermore, we believe that in order to facilitate a clear understanding of our operating results, AFFO should be examined in conjunction with net income (loss) calculated in accordance with GAAP and presented in our consolidated financial statements. AFFO should not be considered as an alternative to net income (loss) as an indication of our performance or to cash flows as a measure of our liquidity or ability to make distributions.

Adjusted Earnings before Interest, Taxes, Depreciation and Amortization, Net Operating Income, Cash Net Operating Income and Cash Paid For Interest

We believe that Adjusted EBITDA, which is defined as earnings before interest, taxes, depreciation and amortization adjusted for merger, transaction and other costs, other non-cash items and including our pro-rata share from unconsolidated joint ventures, is an appropriate measure of our ability to incur and service debt. We also exclude revenue attributable to the reimbursement by third parties of financing costs that we originally incurred because these revenues are not, in our view, related to operating performance. All paid and accrued merger, transaction and other costs (including

Supplemental Information 4 Global Net Lease, Inc.

Global Net Lease, Inc.

Supplemental Information

Quarter ended June 30, 2026 (Unaudited)

prepayment penalties for debt extinguishments or modifications) and certain other expenses negatively impact our operating performance during the period in which expenses are incurred or properties are acquired and will also have negative effects on returns to investors, but are not reflective of on-going performance. Adjusted EBITDA should not be considered as an alternative to cash flows from operating activities, as a measure of our liquidity or as an alternative to net income (loss) as calculated in accordance with GAAP as an indicator of our operating activities. Other REITs may calculate Adjusted EBITDA differently and our calculation should not be compared to that of other REITs.

EBITDA includes adjustments related to the treatment of the sale of the Multi-Tenant Retail Portfolio as a discontinued operation, which includes adjustments for depreciation and amortization and interest expense. Adjusted EBITDA includes adjustments related to the treatment of the sale of the Multi-Tenant Retail Portfolio as a discontinued operation, which includes adjustments for merger, transaction and other costs, (loss) gain on dispositions of real estate investments, loss (gain) on derivative instruments, loss on extinguishment of debt and other income (expense).

NOI is a non-GAAP financial measure equal to net income (loss), the most directly comparable GAAP financial measure, less discontinued operations, interest, other income and income from preferred equity investments and investment securities, plus corporate general and administrative expense, merger, transaction and other costs, depreciation and amortization, other non-cash expenses and interest expense. We use NOI internally as a performance measure and believe NOI provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Therefore, we believe NOI is a useful measure for evaluating the operating performance of our real estate assets and to make decisions about resource allocations. Further, we believe NOI is useful to investors as a performance measure because, when compared across periods, NOI reflects the impact on operations from trends in occupancy rates, rental rates, operating costs and acquisition activity on an unlevered basis, providing perspective not immediately apparent from net income. NOI excludes certain components from net income in order to provide results that are more closely related to a property’s results of operations. For example, interest expense is not necessarily linked to the operating performance of a real estate asset and is often incurred at the corporate level as opposed to the property level. In addition, depreciation and amortization, because of historical cost accounting and useful life estimates, may distort operating performance at the property level. NOI presented by us may not be comparable to NOI reported by other REITs that define NOI differently. We believe that in order to facilitate a clear understanding of our operating results, NOI should be examined in conjunction with net income (loss) as presented in our consolidated financial statements. NOI should not be considered as an alternative to net income (loss) as an indication of our performance or to cash flows as a measure of our liquidity.

Cash NOI is a non-GAAP financial measure that is intended to reflect the performance of our properties. We define Cash NOI as net operating income (which is separately defined herein) excluding amortization of above/below market lease intangibles and straight-line rent adjustments that are included in GAAP lease revenues. We believe that Cash NOI is a helpful measure that both investors and management can use to evaluate the current financial performance of our properties and it allows for comparison of our operating performance between periods and to other REITs. Cash NOI should not be considered as an alternative to net income, as an indication of our financial performance, or to cash flows as a measure of liquidity or our ability to fund all needs. The method by which we calculate and present Cash NOI may not be directly comparable to the way other REITs calculate and present Cash NOI.

Cash NOI includes all of the adjustments described above for Adjusted EBITDA related to the treatment of the sale of the Multi-Tenant Retail Portfolio as a discontinued operation, as well as adjustments for general and administrative expenses.

Cash Paid for Interest is calculated based on the interest expense less non-cash portion of interest expense and amortization of mortgage (discount) premium, net. Management believes that Cash Paid for Interest provides useful information to investors to assess our overall solvency and financial flexibility. Cash Paid for Interest should not be considered as an alternative to interest expense as determined in accordance with GAAP or any other GAAP financial measures and should only be considered together with and as a supplement to our financial information prepared in accordance with GAAP.

Supplemental Information 5 Global Net Lease, Inc.

Global Net Lease, Inc.

Supplemental Information

Quarter ended June 30, 2026 (Unaudited)

Key Metrics

As of and for the three months ended June 30, 2026

(Amounts in thousands, except per share data, ratios and percentages)

Financial Results
Revenue from tenants						$	112,475
Net loss attributable to common stockholders						$	(7,450)
Basic and diluted net loss per share attributable to common stockholders [1]						$	(0.04)
Cash NOI [2]						$	100,542
Adjusted EBITDA [2]						$	88,815
AFFO attributable to common stockholders [2]						$	45,702
Dividends per share - second quarter [3]						$	0.19
Dividend yield - annualized, based on quarter end share price						8.5		%
Balance Sheet and Capitalization
Gross asset value [4]						$5,055,309
Net debt [5] [6]						$2,343,509
Total consolidated debt [6]						$2,497,149
Total assets						$4,066,088
Liquidity [7]						$919,023
Common shares outstanding as of June 30, 2026						210,951
Net debt to gross asset value						46.4		%
Net debt to annualized adjusted EBITDA [8]						6.6		x
Weighted-average interest rate cost [9]						4.1		%
Weighted-average debt maturity (years) [10]						2.7
Interest Coverage Ratio [11]						3.2		x
Real Estate Portfolio
Number of properties						798
Square footage (millions)						39.7
Leased						97		%
Weighted-average remaining lease term (years) [12]						5.7

_________

[1]Adjusted for net income attributable to common stockholders for common share equivalents.

[2]This Non-GAAP metric is reconciled below.

[3]Represents quarterly dividend per share rate based off the annualized dividend rate of $0.76.

[4]Defined as total assets plus accumulated depreciation and amortization as of June 30, 2026.

[5]Represents total debt outstanding of $2.5 billion, less cash and cash equivalents of $153.6 million as of June 30, 2026.

[6]Excludes the effect of discounts and deferred financing costs, net.

[7]Liquidity includes $765.4 million of availability under the credit facility and $153.6 million of cash and cash equivalents as of June 30, 2026.

[8]Annualized adjusted EBITDA annualized based on Adjusted EBITDA for the quarter ended June 30, 2026 multiplied by four.

[9]The weighted average interest rate cost is based on the outstanding principal balance of the debt.

[10]The weighted average debt maturity is based on the outstanding principal balance of the debt.

[11]The interest coverage ratio is calculated by dividing adjusted EBITDA for the applicable quarter by cash paid for interest (calculated based on interest expense less the non-cash portion of interest expense). Adjusted EBITDA and cash paid for interest are Non-GAAP metrics and are reconciled below.

[12]The weighted-average remaining lease term (years) is based on square feet.

Supplemental Information 6 Global Net Lease, Inc.

Global Net Lease, Inc.

Supplemental Information

Quarter ended June 30, 2026 (Unaudited)

Consolidated Balance Sheets

(Amounts in thousands)

						June 30, 2026						December 31, 2025
ASSETS
Real estate investments, at cost:
Land						$	636,934					$	659,086
Buildings, fixtures and improvements						3,468,728						3,592,121
Construction in progress						406						2,993
Acquired intangible lease assets						492,330						523,406
Total real estate investments, at cost						4,598,398						4,777,606
Less accumulated depreciation and amortization						(989,221)						(966,982)
Total real estate investments, net						3,609,177						3,810,624
Real estate assets held for sale						33,834						49,654
Assets related to discontinued operations						—						348
Cash and cash equivalents						153,640						180,114
Restricted cash						14,352						13,949
Derivative assets, at fair value						978						7
Unbilled straight-line rent						71,952						72,919
Operating lease right-of-use asset						60,958						63,362
Prepaid expenses and other assets						53,636						60,415
Multi-tenant disposition receivable, net						2,475						27,934
Deferred tax assets						5,105						5,167
Goodwill						45,516						45,898
Deferred financing costs, net						14,465						16,812
Total Assets						$	4,066,088					$	4,347,203
LIABILITIES AND EQUITY
Mortgage notes payable, net						$	986,880					$	1,264,604
Revolving credit facility						472,946						324,165
Senior notes, net						940,019						928,169
Acquired intangible lease liabilities, net						15,781						17,501
Derivative liabilities, at fair value						1,797						5,298
Accounts payable and accrued expenses						42,771						43,821
Operating lease liability						40,043						41,429
Prepaid rent						26,962						28,254
Deferred tax liability						17,403						17,796
Dividends payable						11,623						11,718
Real estate liabilities held for sale						164						60
Liabilities related to discontinued operations						596						890
Total Liabilities						2,556,985						2,683,705
Commitments and contingencies						—						—
Stockholders’ Equity:
7.25% Series A cumulative redeemable preferred stock						68						68
6.875% Series B cumulative redeemable perpetual preferred stock						47						47
7.50% Series D cumulative redeemable perpetual preferred stock						79						79
7.375% Series E cumulative redeemable perpetual preferred stock						46						46
Common stock						3,440						3,490
Additional paid-in capital						4,205,625						4,249,018
Accumulated other comprehensive income						16,480						22,169
Accumulated deficit						(2,716,682)						(2,611,419)
Total Stockholders’ Equity						1,509,103						1,663,498
Total Liabilities and Equity						$	4,066,088					$	4,347,203

Supplemental Information 7 Global Net Lease, Inc.

Global Net Lease, Inc.

Supplemental Information

Quarter ended June 30, 2026 (Unaudited)

Consolidated Statements of Operations

(Amounts in thousands, except per share data)

						Three Months Ended
						June 30, 2026						March 31, 2026						December 31, 2025						September 30, 2025
Revenue from tenants						$	112,475					$	109,286					$	116,953					$	121,013
Expenses:
Property operating						13,400						12,925						12,566						12,669
Impairment charges						3,695						11,115						31,972						55,433
Merger, transaction and other costs						6,561						4,387						1,458						1,623
General and administrative						11,884						12,144						13,377						11,834
Equity-based compensation						3,942						4,042						3,024						3,059
Depreciation and amortization						41,512						41,612						44,439						44,780
Total expenses						80,994						86,225						106,836						129,398
Operating income (loss) before gain (loss) on dispositions of real estate investments						31,481						23,061						10,117						(8,385)
Gain (loss) on dispositions of real estate investments						23,250						7,879						100,625						(5,797)
Operating income (loss)						54,731						30,940						110,742						(14,182)
Other income (expense):
Interest expense						(38,820)						(39,191)						(42,626)						(45,307)
Loss on extinguishment and modification of debt						(11,911)						(1,707)						(2,335)						(4,121)
(Loss) gain on derivative instruments						(302)						3,065						(268)						2,271
Unrealized gains on undesignated foreign currency advances and other hedge ineffectiveness						1,816						—						—						31
Other income						276						174						780						1,820
Total other expense, net						(48,941)						(37,659)						(44,449)						(45,306)
Net income (loss) before income tax						5,790						(6,719)						66,293						(59,488)
Income tax expense						(4,775)						(1,642)						(12,434)						(3,092)
Income (loss) from continuing operations						1,015						(8,361)						53,859						(62,580)
Income (loss) from discontinued operations						2,471						3,283						(5,678)						2,464
Net income (loss)						3,486						(5,078)						48,181						(60,116)
Preferred stock dividends						(10,936)						(10,936)						(10,936)						(10,935)
Net (loss) income attributable to common stockholders						$	(7,450)					$	(16,014)					$	37,245					$	(71,051)
Basic and Diluted Loss Per Share:
Net (loss) income per share from continuing operations						$	(0.05)					$	(0.09)					$	0.19					$	(0.33)
Net income (loss) per share from discontinued operations						0.01						0.01						(0.03)						0.01
Net (loss) income per share attributable to common stockholders — Basic and Diluted						$	(0.04)					$	(0.08)					$	0.16					$	(0.32)
Weighted average shares outstanding — Basic and Diluted						211,339						214,040						219,056						220,891

Supplemental Information 8 Global Net Lease, Inc.

Global Net Lease, Inc.

Supplemental Information

Quarter ended June 30, 2026 (Unaudited)

Non-GAAP Measures

(Amounts in thousands)

						Three Months Ended
						June 30, 2026						March 31, 2026						December 31, 2025						September 30, 2025
EBITDA and Adjusted EBITDA:
Net income (loss)						$	3,486					$	(5,078)					$	48,181					$	(60,116)
Depreciation and amortization						41,512						41,612						44,439						44,780
Interest expense						38,820						39,191						42,626						45,307
Income tax expense						4,775						1,642						12,434						3,092
EBITDA						88,593						77,367						147,680						33,063
Impairment charges						3,695						11,115						31,972						55,433
Equity-based compensation						3,942						4,042						3,024						3,059
Merger, transaction and other costs						6,561						4,387						1,458						1,623
(Gain) loss on dispositions of real estate investments						(23,250)						(7,879)						(100,625)						5,797
Loss (gain) on derivative instruments						302						(3,065)						268						(2,271)
Unrealized gains on undesignated foreign currency advances and other hedge ineffectiveness						(1,816)						—						—						(31)
Loss on extinguishment and modification of debt						11,911						1,707						2,335						4,121
Other income						(275)						(174)						(780)						(1,820)
Write offs of straight-line rent						773						2						384						3,216
Discontinued operations adjustments						(1,621)						(3,283)						5,637						(3,056)
Adjusted EBITDA						88,815						84,219						91,353						99,134
Net operating income (NOI) and Cash NOI:
General and administrative						11,884						12,144						13,377						11,834
Write offs of straight-line rent						(773)						(2)						(384)						(3,216)
Discontinued operations adjustments						(850)						—						13						101
NOI						99,076						96,361						104,359						107,853
Amortization related to above- and below-market lease intangibles and right-of-use assets, net						1,088						1,106						1,088						1,147
Straight-line rent						378						(680)						(777)						3,433
Cash NOI						$	100,542					$	96,787					$	104,670					$	112,433
Cash Paid for Interest:
Interest Expense - continuing operations						$	38,820					$	39,191					$	42,626					$	45,307
Non-cash portion of interest expense						(2,271)						(2,260)						(1,961)						(2,681)
Amortization of discounts on mortgages and senior notes						(8,685)						(9,041)						(8,833)						(8,640)
Total cash paid for interest						$	27,864					$	27,890					$	31,832					$	33,986

Supplemental Information 9 Global Net Lease, Inc.

Global Net Lease, Inc.

Supplemental Information

Quarter ended June 30, 2026 (Unaudited)

Non-GAAP Measures

(Amounts in thousands, except per share data)

						Three Months Ended
						June 30, 2026						March 31, 2026						December 31, 2025						September 30, 2025
Net (loss) income attributable to common stockholders (in accordance with GAAP)						$	(7,450)					$	(16,014)					$	37,245					$	(71,051)
Impairment charges						3,695						11,115						31,972						55,433
Depreciation and amortization						41,512						41,612						44,439						44,780
(Gain) loss on dispositions of real estate investments						(23,250)						(7,879)						(100,625)						5,797
Discontinued operations FFO adjustments						(573)						(748)						71						(1,214)
FFO (as defined by NAREIT) attributable to common stockholders						13,934						28,086						13,102						33,745
Merger, transaction and other costs						6,561						4,387						1,458						1,623
Loss on extinguishment and modification of debt						11,911						1,707						2,335						4,121
Discontinued operations Core FFO adjustments						—						—						2						—
Core FFO attributable to common stockholders						32,406						34,180						16,897						39,489
Non-cash equity-based compensation						3,942						4,042						3,024						3,059
Non-cash portion of interest expense						2,271						2,260						1,961						2,681
Amortization related to above and below-market lease intangibles and right-of-use assets, net						1,088						1,106						1,088						1,147
Straight-line rent						378						(680)						(777)						3,433
Unrealized (gains) losses on undesignated foreign currency advances and other hedge ineffectiveness						(1,816)						—						—						(31)
Eliminate unrealized gains on foreign currency transactions [1]						(59)						(3,517)						(792)						(3,421)
Amortization of discounts on mortgages and senior notes						8,685						9,041						8,833						8,640
Eliminate deferred tax expense related to the disposition of the McLaren Campus [2]						—						—						12,741						—
Eliminate (gains) losses related to multi-tenant disposition receivable [3]						(1,039)						(2,536)						5,541						(1,834)
Forfeited disposition deposit [4]						(154)						—						—						—
Adjusted funds from operations (AFFO) attributable to common stockholders						$	45,702					$	43,896					$	48,516					$	53,163
Weighted average common shares outstanding — Basic and Diluted						211,339						214,040						219,056						220,891
Net (loss) income per share attributable to common stockholders						$	(0.04)					$	(0.08)					$	0.16					$	(0.32)
FFO per diluted common share						$	0.07					$	0.13					$	0.06					$	0.15
Core FFO per diluted common share						$	0.15					$	0.16					$	0.08					$	0.18
AFFO per diluted common share						$	0.22					$	0.21					$	0.22					$	0.24
Dividends declared to common stockholders						$	40,640					$	41,159					$	42,055					$	42,366

_________

[1]For AFFO purposes, we adjust for unrealized gains and losses. For the three months ended June 30, 2026, the loss on derivative instruments was $0.3 million, which consisted of unrealized gains of $0.1 million and realized losses of $0.4 million. For the three months ended March 31, 2026, the gain on derivative instruments was $3.1 million, which consisted of unrealized gains of $3.5 million and realized losses of $0.4 million. For the three months ended December 31, 2025, the loss on derivative instruments was $0.3 million, which consisted of unrealized gains of $0.8 million and realized losses of $1.1 million. For the three months ended September 30, 2025, the gain on derivative instruments was $2.3 million, which consisted of unrealized gains of $3.4 million and realized losses of $1.1 million.

[2]Represents deferred tax expense specifically related to the capital gain recorded upon the disposition of the McLaren Campus. This amount is recorded in the income tax expense line item in our consolidated statements of operations. We do not consider this expense to be part of our normal operating performance and have, accordingly, increased AFFO for this amount.

[3]Represents adjustments to the fair value of the embedded derivative feature of the multi-tenant disposition receivable. We do not consider these adjustments to be indicative of our normal operating performance and have, accordingly, increased or (decreased) AFFO for these amounts.

[4]Amount is recorded in other income in our consolidated statement of operations. We do not consider this income to be part of our normal operating performance and have, accordingly, decreased AFFO for this amount.

Supplemental Information 10 Global Net Lease, Inc.

Global Net Lease, Inc.

Supplemental Information

Quarter ended June 30, 2026 (Unaudited)

Debt Overview

As of June 30, 2026

Year of Maturity						Number of Encumbered Properties [1]						Weighted-Average Debt Maturity (Years)						Weighted-Average Interest Rate [2]						Total Outstanding Balance [3] (In thousands)						Percent
Non-Recourse Debt
2026 (remainder)						—						—						—		%				$	—
2027						6						1.4						4.4		%				94,132
2028						94						2.0						4.0		%				269,798
2029						49						2.9						4.9		%				527,996
2030						—						—						—		%				—
Thereafter						113						4.9						3.2		%				132,277
Total Non-Recourse Debt						262						2.8						4.4		%				1,024,203						41		%
Recourse Debt
2027 - 3.75% Senior Notes												1.5						3.8		%				500,000
2028 - 4.50% Senior Notes												2.3						4.5		%				500,000
2030 [4] - Revolving Credit Facility												4.1			[4]			3.4		%				472,946
Total Recourse Debt												2.6			[4]			3.9		%				1,472,946						59		%
Total Debt												2.7			[4]			4.1		%				$	2,497,149					100		%
Total Debt by Currency																								Percent
USD																								78		%
EUR																								22		%
GBP																								—		%
CAD																								—		%
Total																								100		%

_________

[1]For non-recourse debt, amounts are shown within the year that the loan fully matures.

[2]As of June 30, 2026, the Company’s total combined debt was 92% fixed rate or swapped to a fixed rate and 8% floating rate.

[3]Excludes the effect of mortgage discounts and deferred financing costs, net. Current balances as of June 30, 2026 are shown in the year the debt matures.

[4] Assumes the Company exercises its two 6-month extension options.

Supplemental Information 11 Global Net Lease, Inc.

Global Net Lease, Inc.

Supplemental Information

Quarter ended June 30, 2026 (Unaudited)

Future Minimum Lease Rents

As of June 30, 2026

(Amounts in thousands)

						Future Minimum Base Rent Payments [1]
2026 (remainder)						$	188,867
2027						356,235
2028						326,855
2029						276,809
2030						216,113
2031						185,423
Thereafter						665,805
Total						$	2,216,107

_________

[1]Base rent assumes exchange rates of £1.00 to $1.32 for GBP, €1.00 to $1.14 for EUR and C$1.00 to $0.70 for CAD as of June 30, 2026 for illustrative purposes, as applicable.

Supplemental Information 12 Global Net Lease, Inc.

Global Net Lease, Inc.

Supplemental Information

Quarter ended June 30, 2026 (Unaudited)

Diversification by Property Type/Segment

As of June 30, 2026

(Amounts in thousands, except percentages)

Based on Annualized Straight-Line Rent:

						Total Portfolio																											Unencumbered Portfolio [2]
Property Type/Segment						Annualized SL Rent [1]						SL Rent Percent						Square Feet						Sq. ft. Percent									Annualized SL Rent [1]						SL Rent Percent						Square Feet						Sq. ft. Percent
Industrial & Distribution						$	182,345					47		%				28,039						71		%							$	97,183					38		%				16,370						65		%
Retail						109,088						28		%				6,503						16		%							79,956						31		%				4,839						19		%
Office						99,407						25		%				5,115						13		%							78,371						31		%				3,955						16		%
Total						$	390,840					100		%				39,657						100		%							$	255,510					100		%				25,164						100		%

_________

[1]SL Rent (Straight-line rent) is on an annualized basis and assumes exchange rates of £1.00 to $1.32 for GBP, €1.00 to $1.14 for EUR and C$1.00 to $0.70 for CAD as of June 30, 2026 for illustrative purposes, as applicable.

[2] Includes properties on the credit facility borrowing base.

Based on Annualized Base Rent:

						Total Portfolio																											Unencumbered Portfolio [2]
Property Type/Segment						Annualized Base Rent [1]						Base Rent Percent						Square Feet						Sq. ft. Percent									Annualized Base Rent [1]						Base Rent Percent						Square Feet						Sq. ft. Percent
Industrial & Distribution						$	181,671					47		%				28,039						71		%							$	95,711					38		%				16,370						65		%
Retail						106,971						27		%				6,503						16		%							78,703						31		%				4,839						19		%
Office						101,442						26		%				5,115						13		%							78,054						31		%				3,955						16		%
Total						$	390,084					100		%				39,657						100		%							$	252,468					100		%				25,164						100		%

_________

[1]Annualized Base Rent is on an annualized basis and assumes exchange rates of £1.00 to $1.32 for GBP, €1.00 to $1.14 for EUR and C$1.00 to $0.70 as of June 30, 2026 for illustrative purposes, as applicable.

[2] Includes properties on the credit facility borrowing base.

Supplemental Information 13 Global Net Lease, Inc.

Global Net Lease, Inc.

Supplemental Information

Quarter ended June 30, 2026 (Unaudited)

Diversification by Tenant Industry

As of June 30, 2026

(Amounts in thousands, except percentages)

						Total Portfolio																											Unencumbered Portfolio [3]
Industry Type						Annualized SL Rent [1]						SL Rent Percent						Leased Square Feet						Sq. ft. Percent									Annualized SL Rent [1]						SL Rent Percent						Leased Square Feet						Sq. ft. Percent
Financial Services						$	37,130					10		%				2,173						6		%							$	36,406					14		%				2,076						9		%
Freight & Logistics						29,199						7		%				3,641						9		%							18,499						7		%				2,557						11		%
Healthcare						25,166						6		%				1,117						3		%							17,278						7		%				802						3		%
Auto Manufacturing						22,284						6		%				3,193						8		%							4,878						2		%				691						3		%
Consumer Goods						22,169						6		%				4,705						12		%							20,584						8		%				4,036						17		%
Distribution						16,472						4		%				1,595						4		%							6,645						3		%				769						3		%
Discount Retail						16,144						4		%				1,880						5		%							5,314						2		%				573						2		%
Pharmacy						13,481						3		%				549						1		%							13,239						5		%				539						2		%
Technology						13,440						3		%				690						2		%							9,471						4		%				546						2		%
Aerospace						12,295						3		%				1,036						3		%							2,575						1		%				151						1		%
Government						12,175						3		%				455						1		%							12,175						5		%				455						2		%
Retail Banking						11,541						3		%				386						1		%							6,528						3		%				218						1		%
Home Improvement						11,404						3		%				1,987						5		%							9,499						4		%				1,721						7		%
Auto Services						10,579						3		%				225						1		%							7,385						3		%				148						1		%
Other [2]						137,361						36		%				14,716						39		%							85,034						32		%				8,614						36		%
Total						$	390,840					100		%				38,348						100		%							$	255,510					100		%				23,896						100		%

_________

[1]SL Rent (Straight-line rent) is on an annualized basis and assumes exchange rates of £1.00 to $1.32 for GBP, €1.00 to $1.14 for EUR and C$1.00 to $0.70 for CAD as of June 30, 2026 for illustrative purposes, as applicable.

[2]Other includes 54 industry types as of June 30, 2026.

[3]Includes properties on the credit facility borrowing base.

Supplemental Information 14 Global Net Lease, Inc.

Global Net Lease, Inc.

Supplemental Information

Quarter ended June 30, 2026 (Unaudited)

Top Twenty Tenants

As of June 30, 2026

(Amounts in thousands, except percentages)

Tenant / Lease Guarantor						Property Type/Segment						Tenant Industry						Annualized SL Rent [1]						SL Rent Percent
FedEx						Industrial & Distribution						Freight & Logistics						$	23,168					5.9		%
Whirlpool						Industrial & Distribution						Consumer Goods						14,688						3.8		%
ING Bank						Office						Financial Services						11,438						2.9		%
General Services Administration (GSA)						Office						Government						10,317						2.6		%
FCA USA						Industrial & Distribution						Auto Manufacturing						10,147						2.6		%
Dollar General						Retail						Discount Retail						9,854						2.5		%
Broadridge Financial Solutions						Industrial & Distribution						Financial Services						9,332						2.4		%
Truist Bank						Retail						Retail Banking						8,851						2.3		%
Boots UK Limited						Retail						Pharmacy						8,536						2.2		%
The Kroger Co. of Michigan						Industrial & Distribution						Distribution						8,498						2.2		%
Finnair						Industrial & Distribution						Aerospace						8,208						2.1		%
Fresenius						Retail						Healthcare						7,961						2.0		%
Home Depot						Industrial & Distribution						Home Improvement						6,748						1.7		%
Deutsche Bank						Office						Financial Services						6,088						1.6		%
Tokmanni						Industrial & Distribution						Discount Retail						5,876						1.5		%
Crown Crest						Industrial & Distribution						Retail Food Distribution						5,773						1.5		%
Tidal Wave Auto Spa						Retail						Auto Services						5,548						1.4		%
Walgreens						Industrial & Distribution						Pharmaceuticals						5,299						1.4		%
Encompass Health						Office						Healthcare						5,286						1.4		%
Lowes						Retail						Home Improvement						4,656						1.2		%
Subtotal																		176,272						45.2		%
Remaining portfolio																		214,568						54.8		%
Total Portfolio																		$	390,840					100		%

_________

[1]SL Rent (Straight-line rent) is on an annualized basis and assumes exchange rates of £1.00 to $1.32 for GBP, €1.00 to $1.14 for EUR and C$1.00 to $0.70 for CAD as of June 30, 2026 for illustrative purposes, as applicable.

Supplemental Information 15 Global Net Lease, Inc.

Global Net Lease, Inc.

Supplemental Information

Quarter ended June 30, 2026 (Unaudited)

Diversification by Geography — As of June 30, 2026 (Amounts in thousands, except percentages)

						Total Portfolio																											Unencumbered Portfolio [2]
Region						Annualized SL Rent [1]						SL Rent Percent						Square Feet						Sq. ft. Percent									Annualized SL Rent [1]						SL Rent Percent						Square Feet						Sq. ft. Percent
United States						$	284,905					73.0		%				29,718						75		%							$	163,663					63.8		%				16,684						66.3		%
Michigan						47,187						12.1		%				4,306						10.9		%							17,719						6.9		%				1,393						5.5		%
Ohio						22,854						5.8		%				4,342						11.0		%							17,232						6.7		%				3,216						12.8		%
Texas						21,917						5.6		%				1,658						4.2		%							10,488						4.1		%				814						3.2		%
Georgia						15,666						4.0		%				1,656						4.2		%							10,187						4.0		%				1,035						4.1		%
Illinois						13,115						3.4		%				1,395						3.5		%							8,669						3.4		%				748						3.0		%
Alabama						12,072						3.1		%				1,053						2.7		%							5,259						2.1		%				777						3.1		%
South Carolina						11,338						2.9		%				1,471						3.7		%							6,757						2.6		%				838						3.3		%
Tennessee						10,116						2.6		%				1,127						2.8		%							7,224						2.8		%				601						2.4		%
North Carolina						9,692						2.5		%				1,517						3.8		%							6,716						2.6		%				1,212						4.8		%
Missouri						9,254						2.4		%				876						2.2		%							4,148						1.6		%				415						1.7		%
Florida						9,221						2.4		%				428						1.1		%							4,361						1.7		%				167						0.7		%
New York						8,351						2.1		%				1,049						2.6		%							3,247						1.3		%				294						1.2		%
California						7,699						2.0		%				838						2.1		%							6,410						2.5		%				731						2.9		%
Massachusetts						6,710						1.7		%				673						1.7		%							6,710						2.6		%				673						2.7		%
Kentucky						6,338						1.6		%				630						1.6		%							3,836						1.5		%				400						1.6		%
Pennsylvania						6,051						1.5		%				413						1.0		%							3,133						1.2		%				94						0.4		%
Indiana						5,766						1.5		%				1,221						3.1		%							3,507						1.4		%				445						1.8		%
Mississippi						4,843						1.2		%				479						1.2		%							2,028						0.8		%				157						0.6		%
New Jersey						4,719						1.2		%				271						0.7		%							1,070						0.4		%				68						0.3		%
Connecticut						4,598						1.2		%				402						1.0		%							3,236						1.3		%				337						1.3		%
Kansas						3,743						1.0		%				316						0.8		%							1,548						0.6		%				23						0.1		%
Arkansas						3,571						0.9		%				137						0.3		%							3,329						1.3		%				126						0.5		%
West Virginia						3,108						0.8		%				334						0.8		%							1,343						0.5		%				155						0.6		%
Colorado						3,047						0.8		%				115						0.3		%							3,047						1.2		%				115						0.5		%
Louisiana						2,870						0.7		%				244						0.6		%							1,506						0.6		%				129						0.5		%
New Hampshire						2,779						0.7		%				339						0.9		%							2,380						0.9		%				256						1.0		%
Iowa						2,570						0.7		%				369						0.9		%							2,356						0.9		%				358						1.4		%
Wisconsin						2,403						0.6		%				214						0.5		%							2,403						0.9		%				214						0.8		%
Maine						2,021						0.5		%				64						0.2		%							2,021						0.8		%				64						0.3		%
North Dakota						1,923						0.5		%				193						0.5		%							1,745						0.7		%				168						0.7		%
Oklahoma						1,911						0.5		%				144						0.4		%							986						0.4		%				46						0.2		%
Minnesota						1,895						0.5		%				297						0.8		%							1,339						0.5		%				220						0.9		%
Virginia						1,697						0.4		%				94						0.2		%							1,299						0.5		%				73						0.3		%
South Dakota						1,489						0.4		%				101						0.3		%							1,368						0.5		%				76						0.3		%
Nebraska						1,482						0.4		%				106						0.3		%							237						0.1		%				5						—		%
Rhode Island						1,436						0.4		%				86						0.2		%							1,436						0.6		%				86						0.3		%
Vermont						1,319						0.3		%				235						0.6		%							84						—		%				22						0.1		%
Maryland						1,288						0.3		%				135						0.3		%							153						0.1		%				8						—		%
Utah						1,249						0.3		%				47						0.1		%							329						0.1		%				12						—		%
New Mexico						1,178						0.3		%				93						0.2		%							667						0.3		%				44						0.2		%
Wyoming						1,152						0.3		%				84						0.2		%							361						0.1		%				18						0.1		%
Idaho						744						0.2		%				35						0.1		%							291						0.1		%				13						0.1		%
Nevada						596						0.2		%				24						0.1		%							417						0.2		%				12						—		%
Montana						553						0.1		%				62						0.2		%							73						—		%				3						—		%
Alaska						418						0.1		%				9						—		%							418						0.2		%				9						—		%
Arizona						366						0.1		%				22						0.1		%							—						—		%				—						—		%
Delaware						341						0.1		%				10						—		%							341						0.1		%				10						—		%
Washington, DC						249						0.1		%				4						—		%							249						0.1		%				4						—		%
United Kingdom						39,180						10.0		%				3,767						9.5		%							39,178						15.3		%				3,765						15.0		%
Netherlands						18,369						4.7		%				1,007						2.5		%							18,369						7.2		%				1,007						4.0		%
Finland						14,086						3.6		%				1,457						3.7		%							—						—		%				—						—		%
Germany						11,211						2.9		%				1,561						3.9		%							11,211						4.4		%				1,561						6.2		%
Luxembourg						6,088						1.6		%				156						0.4		%							6,088						2.4		%				156						0.6		%
Channel Islands						5,931						1.5		%				114						0.3		%							5,931						2.3		%				114						0.5		%
France						5,890						1.5		%				1,309						3.3		%							5,890						2.3		%				1,309						5.2		%
Canada						2,940						0.8		%				372						0.9		%							2,940						1.2		%				372						1.5		%
Italy						2,240						0.6		%				196						0.5		%							2,240						0.9		%				196						0.7		%
Total						$	390,840					100		%				39,657						100		%							$	255,510					100		%				25,164						100		%

_________

[1]SL Rent (Straight-line rent) is on an annualized basis and assumes exchange rates of £1.00 to $1.32 for GBP, €1.00 to $1.14 for EUR and C$1.00 to $0.70 for CAD as of June 30, 2026 for illustrative purposes, as applicable.

[2]Includes properties on the credit facility borrowing base.

Supplemental Information 16 Global Net Lease, Inc.

Global Net Lease, Inc.

Supplemental Information

Quarter ended June 30, 2026 (Unaudited)

Lease Expirations

As of June 30, 2026

(Amounts in thousands, except number of leases and percentages)

Year of Expiration						Number of Leases Expiring						Annualized SL Rent [1]						Annualized SL Rent Percent						Leased Square Feet						Percent of Leased Square Feet Expiring
2026 (Remainder)						20						$	20,123					5.1		%				1,435						3.7		%
2027						92						33,216						8.5		%				2,677						7.0		%
2028						124						44,114						11.3		%				4,169						10.9		%
2029						125						58,235						14.9		%				6,015						15.7		%
2030						106						46,887						12.0		%				3,851						10.0		%
2031						73						36,631						9.4		%				5,709						14.9		%
2032						58						35,401						9.1		%				3,706						9.7		%
2033						35						28,571						7.3		%				2,465						6.4		%
2034						28						17,868						4.6		%				1,220						3.2		%
2035						9						6,385						1.6		%				847						2.2		%
2036						42						9,505						2.4		%				895						2.3		%
2037						25						3,360						0.9		%				88						0.2		%
2038						38						11,604						3.0		%				1,452						3.8		%
2039						24						13,671						3.5		%				1,669						4.4		%
2040						15						4,157						1.1		%				136						0.4		%
2041						30						13,312						3.4		%				1,156						3.0		%
Thereafter (>2041)						16						7,800						2.0		%				858						2.2		%
Total						860						$	390,840					100		%				38,348						100		%

_________

[1]Annualized rental income converted from local currency into USD as of June 30, 2026 for the in-place lease in the property on a straight-line basis, which includes tenant concessions such as free rent, as applicable.

Supplemental Information 17 Global Net Lease, Inc.

Filing Exhibits & Attachments

6 documents

Press Releases

• EX-99.1 EX-99.1 EARNINGS RELEASE 6.30.26 294.0 KB
• EX-99.2 EX-99.2 SUPPLEMENTAL 6.30.26 890.1 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 2.2 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT 16.7 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 29.7 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 17.5 KB