What were WPC’s net income and AFFO per share in Q3 2026?

Net income attributable to W. P. Carey was $141.0 million, unchanged year over year, and AFFO per diluted share was $1.33, up 6.4% from $1.25. The company attributed the AFFO-per-share increase primarily to net investment activity and rent escalations, partly offset by the settlement of forward equity.

W. P. Carey Q3 revenue rises 8.6% to $468M

Q: How much revenue did WPC report in Q3 2026?

WPC reported $468.3 million in third-quarter 2026 revenue, up 8.6% from $431.3 million in the third quarter of 2025. Lease revenue increased primarily due to net investment activity; operating property revenue decreased primarily following the sale of the self-storage operating portfolio.

Q: How much forward equity did WPC have available for settlement at September 30, 2026?

Approximately $538 million of equity subject to forward sale agreements remained available for settlement at the end of the third quarter. The supplemental information reported expected net proceeds of $537.5 million as of September 30, 2026, associated with 7,612,418 remaining shares.

WPC raised and narrowed its 2026 AFFO-per-share guidance to between $5.23 and $5.29, with 5.8% growth implied at the midpoint.

Filing Impact

(High)

Filing Sentiment

(Negative)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

8-K

Rhea-AI Filing Summary

W. P. Carey Inc. reported third-quarter 2026 revenue of $468.3 million, up 8.6% from $431.3 million a year earlier. Net income attributable to W. P. Carey was $141.0 million, unchanged year over year, while AFFO per diluted share rose 6.4% to $1.33 from $1.25. The company raised and narrowed 2026 AFFO-per-share guidance to between $5.23 and $5.29, implying 5.8% year-over-year growth at the midpoint.

Completed year-to-date investment volume was $1.6 billion, including $181.9 million in the quarter and $143.2 million after quarter-end. WPC raised the low end of its full-year investment-volume assumption by $100 million, narrowing the range to $1.8 billion-$2.1 billion. Contractual same-store rent growth was 2.6% year over year, and the company declared a $0.950-per-share quarterly dividend, an annualized $3.80 per share.

WPC also issued $350 million of 5.200% senior unsecured notes due 2036, using the proceeds to prepay $350 million of 4.250% senior unsecured notes due October 2026.

3 points · 1 major

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance works How Sentiment works

0 major · 0 points

Hollow bars mark forward-looking points. How the balance works

Positive

Major point. Forward-looking: it has not happened yet and may not happen.2026 AFFO-per-share guidance was raised and narrowed to $5.23–$5.29, with 5.8% midpoint growth implied.
Moderate pointQuarterly revenue increased 8.6% year over year to $468.3 million.
Moderate pointAFFO per diluted share rose 6.4% year over year to $1.33.

Negative

None.

Filing Explained

As of September thirtieth, twenty twenty-six, WPC’s five-point-two-times leverage measure assumes settlement of forward equity; common shares outstanding had increased since year-end.

This Form 8-K reports third-quarter results and supplemental information; common shares outstanding were 230,118,492 on September 30, 2026, versus 219,145,876 on December 31, 2025. Absent offsetting changes, the higher share count reduces existing holders’ percentage ownership.

WPC reports net debt to annualized adjusted EBITDA of 5.5x; including 7,612,418 unsettled forward-equity shares as if settled for $537.5 million in cash gives a ratio of 5.2x.

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, or exhibit attachments filed with this report.

Key Figures

Revenue: $468.3 million Net income attributable to W. P. Carey: $141.0 million Diluted earnings per share: $0.61 +4 more

7 metrics

Revenue $468.3 million Third quarter 2026; up 8.6% from $431.3 million in the third quarter of 2025

Net income attributable to W. P. Carey $141.0 million Third quarter 2026; unchanged from the third quarter of 2025

Diluted earnings per share $0.61 Third quarter 2026

AFFO per diluted share $1.33 Third quarter 2026; up 6.4% from $1.25 in the third quarter of 2025

2026 AFFO-per-share guidance $5.23 to $5.29 per diluted share Raised and narrowed; 5.8% year-over-year growth implied at the midpoint

Quarterly dividend declared $0.950 per share Third quarter 2026; annualized rate of $3.80 per share

Contractual same-store rent growth 2.6% Year over year as of September 30, 2026

Key Terms

AFFO, FFO, ABR, pro rata, +1 more

5 terms

AFFO financial

"AFFO attributable to W. P. Carey per diluted share"

AFFO (Adjusted Funds from Operations) is a measure of how much cash a real estate company or investment trust generates from its core operations after subtracting routine upkeep, leasing costs and other recurring expenses. Investors use it as a rough proxy for the cash available to pay dividends or reinvest, like checking how much money remains in your household budget after paying regular bills to see what you can spend or save.

FFO financial

"FFO (as defined by NAREIT) attributable to W. P. Carey"

Funds from operations (FFO) is a performance metric used mainly for real estate companies that measures the cash generated by their core rental and property-management activities, while removing accounting items such as building depreciation and one-time gains or losses from property sales. Investors rely on FFO to assess a real estate firm's ability to pay and sustain dividends and fund growth—similar to checking how much actual rent a landlord collects each month rather than paper profits.

ABR financial

"Contractual minimum annualized base rent"

pro rata financial

"Presented on a pro rata basis"

Pro rata means dividing or distributing something proportionally based on a specific factor, such as ownership or contribution. For example, if an investor owns 10% of a company, they would receive 10% of any dividends or benefits allocated. This approach ensures everyone gets their fair share relative to their stake or input, helping investors understand how benefits, costs, or responsibilities are fairly shared.

forward sale agreements financial

"Equity subject to forward sale agreements remained available for settlement"

A forward sale agreement is a deal where two parties agree today to sell and buy an asset at a set price on a future date. It’s like promising to sell your car to a friend next month at today's price, regardless of how the car's value changes. These agreements help businesses lock in prices and reduce uncertainty about future costs or income.

Earnings Snapshot

Revenue: $468.3 million · Guidance included

Third quarter 2026

Revenue $468.3 million +8.6% year over year (from $431.3 million)

Net income attributable to W. P. Carey $141.0 million Unchanged year over year (from $141.0 million)

AFFO per diluted share $1.33 +6.4% year over year (from $1.25)

Guidance

Raised and narrowed 2026 AFFO guidance to between $5.23 and $5.29 per diluted share, implying 5.8% year-over-year growth at the midpoint.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much revenue did WPC report in Q3 2026?

WPC reported $468.3 million in third-quarter 2026 revenue, up 8.6% from $431.3 million in the third quarter of 2025. Lease revenue increased primarily due to net investment activity; operating property revenue decreased primarily following the sale of the self-storage operating portfolio.

How much forward equity did WPC have available for settlement at September 30, 2026?

Approximately $538 million of equity subject to forward sale agreements remained available for settlement at the end of the third quarter. The supplemental information reported expected net proceeds of $537.5 million as of September 30, 2026, associated with 7,612,418 remaining shares.

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

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Available on EDGAR 10/27/2026 - 04:13 PM EDT Accepted by SEC EDGAR 10/27/2026 - 04:13 PM EDT

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): October 27, 2026

W. P. Carey Inc.

(Exact name of registrant as specified in its charter)


Maryland		001-13779	45-4549771
(State or other jurisdiction of incorporation)		(Commission File Number)	(IRS Employer Identification No.)

One Manhattan West, 395 9th Avenue, 58th Floor
New York,	New York		10001
(Address of principal executive offices)			(Zip Code)

Registrant’s telephone number, including area code: (212) 492-1100

(Former name or former address, if changed since last report.)

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 Symbol(s)

Name of each exchange on which registered

Common Stock, $0.001 Par Value

WPC

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 October 27, 2026, W. P. Carey Inc. (the “Company”) issued an earnings release announcing its financial results for the quarter ended September 30, 2026. A copy of the earnings release is attached as Exhibit 99.1.

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act.

Item 7.01 Regulation FD Disclosure.

On October 27, 2026, the Company made available certain unaudited supplemental financial information at September 30, 2026. A copy of this supplemental information is attached as Exhibit 99.2.

On October 27, 2026, the Company posted its third quarter investor presentation on its website at http://www.wpcarey.com. A copy of the investor presentation is also attached as Exhibit 99.3.

The information furnished pursuant to this Item 7.01, including Exhibits 99.2 and 99.3, shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that Section, and shall not be incorporated by reference into any filing under the Securities Act or the Exchange Act.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits


Exhibit No.						Description
99.1						Earnings release of the Company for the quarter ended September 30, 2026.

99.2						Supplemental financial information of the Company at September 30, 2026.

99.3						Investor presentation by the Company.

104						Cover Page Interactive Data File (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, thereunto duly authorized.


			W. P. Carey Inc.

Date:	October 27, 2026	By:	/s/ ToniAnn Sanzone
			ToniAnn Sanzone
			Chief Financial Officer

Exhibit 99.1

W. P. Carey Announces Third Quarter 2026 Financial Results

New York, NY – October 27, 2026 – W. P. Carey Inc. (NYSE: WPC) (W. P. Carey or the Company), a net lease real estate investment trust, today reported its financial results for the third quarter ended September 30, 2026.

Financial Highlights


			2026 Third Quarter
Net income attributable to W. P. Carey (millions)			$141.0
Diluted earnings per share			$0.61

AFFO (millions)			$308.2
AFFO per diluted share			$1.33

•Raising and narrowing 2026 AFFO guidance range to between $5.23 and $5.29 per diluted share, implying 5.8% year-over-year growth at the midpoint

•Raising the low end of the range for the full-year investment volume assumption by $100 million, narrowing it to between $1.8 billion and $2.1 billion

•Third quarter cash dividend of $0.950 per share, equivalent to an annualized dividend rate of $3.80 per share

Real Estate Portfolio

•Investment volume of $1.6 billion completed year to date, including $181.9 million during the third quarter and $143.2 million subsequent to quarter end

•Active capital investments and commitments of $95.2 million scheduled to be completed in the 2026 fourth quarter

•Gross disposition proceeds of $273.2 million during the first nine months of 2026, including $27.0 million during the third quarter

•Contractual same-store rent growth of 2.6% year over year

Balance Sheet and Capitalization

•Equity –

◦Settled a portion of outstanding forward sale agreements during the third quarter for net proceeds totaling approximately $150 million

◦At the end of the third quarter approximately $538 million of equity subject to forward sale agreements remained available for settlement

•Debt –

◦Issued $350 million of 5.200% Senior Unsecured Notes due 2036, with proceeds used to prepay $350 million of 4.250% Senior Unsecured Notes due October 2026

W. P. Carey Inc. 9/30/2026 Earnings Release 8-K – 1

MANAGEMENT COMMENTARY

“We’ve executed at a high level over the first nine months, with investment activity near record levels, strong portfolio performance and best-in-class rent growth all supporting our expectation that AFFO per share growth will approach 6% this year,” said Jason Fox, Chief Executive Officer. “Even though sharply higher interest rates have added some uncertainty to the transaction market, we’re confident full-year investment volume will remain well within our guidance range. We’re raising the bottom end of that range and continue to see a path to the top half.

“As we look ahead to next year, we’re encouraged by the repricing we’re starting to see. If that trend continues, we would expect to see increasingly attractive opportunities to put the substantial capital we’ve raised to work. Combined with the strength of our internal growth and current dividend yield, we believe we’re well positioned to continue delivering attractive total returns to our shareholders.”

QUARTERLY FINANCIAL RESULTS

Revenues

•Revenues, including reimbursable costs, for the 2026 third quarter totaled $468.3 million, up 8.6% from $431.3 million for the 2025 third quarter.

◦Lease revenues increased due primarily to net investment activity.

◦Operating property revenues decreased due primarily to the sale of the Company’s self-storage operating portfolio, comprising the sale of 63 properties in 2025 and 11 during the 2026 first quarter.

Net Income Attributable to W. P. Carey

•Net income attributable to W. P. Carey for the 2026 third quarter was $141.0 million, unchanged from the 2025 third quarter. A lower gain on sale of real estate was substantially offset by the accretive impact of net investment activity and lower impairment charges.

Adjusted Funds from Operations (AFFO)

•AFFO for the 2026 third quarter was $1.33 per diluted share, up 6.4% from $1.25 per diluted share for the 2025 third quarter, primarily reflecting accretive net investment activity and rent escalations, partly offset by the settlement of forward equity.

Note: Further information concerning AFFO, which is a non-GAAP supplemental performance metric, is presented in the accompanying tables and related notes.

Dividend

•On September 18, 2026, the Company reported that its Board of Directors increased its quarterly cash dividend to $0.950 per share, equivalent to an annualized dividend rate of $3.80 per share, representing a 4.4% increase compared to the 2025 third quarter. The dividend was paid on October 15, 2026 to shareholders of record as of September 30, 2026.

W. P. Carey Inc. 9/30/2026 Earnings Release 8-K – 2

AFFO GUIDANCE

•The Company’s AFFO per diluted share guidance and key underlying assumptions have been updated as follows:


	Updated 2026 Guidance	Prior 2026 Guidance
AFFO per diluted share	$5.23 – $5.29	$5.19 – $5.27
Investment volume	$1.8 – $2.1 billion	$1.7 – $2.1 billion
Disposition volume	$350 – $450 million	$350 – $550 million
General and administrative expenses	$104 – $106 million	$103 – $106 million
Property expenses, excluding reimbursable tenant costs	$54 – $57 million	$54 – $58 million
Tax expense (on an AFFO basis)	$40 – $43 million	$43 – $47 million

•The Company has raised and narrowed its AFFO per diluted share guidance range for the 2026 full year, primarily reflecting a more favorable outlook for potential rent loss, together with lower projected tax expense, partly offset by one-time rent abatements expected mainly in the fourth quarter associated with releasing activity.

Note: The Company does not provide guidance on net income. The Company only provides guidance on AFFO and does not provide a reconciliation of this forward-looking non-GAAP guidance to net income due to the inherent difficulty in quantifying certain items necessary to provide such reconciliation as a result of their unknown effect, timing and potential significance. Examples of such items include impairments of assets, gains and losses from sales of assets, and depreciation and amortization from new acquisitions.

REAL ESTATE

Investments

•Year to date, the Company completed investments totaling $1.6 billion, including $181.9 million during the 2026 third quarter and $143.2 million subsequent to quarter end.

•The Company currently has three capital investments and commitments totaling $95.2 million scheduled to be completed during the 2026 fourth quarter. In addition, the Company has seven capital investments and commitments totaling $204.8 million scheduled to be completed over the course of 2027 and one capital investment and commitment of $25.2 million scheduled to be completed in 2028.

Dispositions

•During the first nine months of 2026, the Company disposed of 33 properties for gross proceeds totaling $273.2 million, including five properties during the 2026 third quarter for gross proceeds totaling $27.0 million.

Contractual Same-Store Rent Growth

•As of September 30, 2026, contractual same-store rent growth was 2.6% year over year on a constant currency basis.

Composition

•As of September 30, 2026, the Company’s net lease portfolio consisted of 1,755 properties, comprising 189 million square feet leased to 383 tenants, with a weighted-average lease term of 12.0 years and an occupancy rate of 98.6%.

W. P. Carey Inc. 9/30/2026 Earnings Release 8-K – 3

BALANCE SHEET AND CAPITALIZATION

Liquidity

•As of September 30, 2026, the Company had total liquidity of $2.6 billion, primarily comprising $1.9 billion of available capacity under its Senior Unsecured Credit Facility (net of amounts reserved for standby letters of credit), in addition to cash and cash equivalents and available net proceeds under unsettled forward equity sale agreements.

Forward Equity

•During the 2026 third quarter, the Company settled a portion of its outstanding forward sale agreements, issuing 2,301,613 shares of common stock for net proceeds totaling approximately $150 million.

•As of September 30, 2026, the Company had a total of 7,612,418 shares available for settlement under forward sale agreements, representing anticipated net proceeds totaling approximately $538 million.

Senior Unsecured Notes

•As previously announced, on July 2, 2026, the Company completed an underwritten public offering of $350 million aggregate principal amount of 5.200% Senior Notes due September 15, 2036.

•The Company used the offering proceeds on July 29, 2026 to prepay the $350 million of 4.250% Senior Unsecured Notes due October 2026, with no associated prepayment costs.

* * * * *

Supplemental Information

The Company has provided supplemental unaudited financial and operating information regarding the 2026 third quarter and certain prior quarters, including a description of non-GAAP financial measures and reconciliations to GAAP measures, in a Current Report on Form 8-K filed with the Securities and Exchange Commission (SEC) on October 27, 2026, and made available on the Company’s website at ir.wpcarey.com/investor-relations.

* * * * *

Live Conference Call and Audio Webcast Scheduled for Wednesday, October 28, 2026 at 11:00 a.m. Eastern Time

Please dial in at least 10 minutes prior to the start time.

Date/Time: Wednesday, October 28, 2026 at 11:00 a.m. Eastern Time

Call-in Number: 1 (877) 465-1289 (U.S.) or +1 (201) 689-8762 (international)

Live Audio Webcast and Replay: www.wpcarey.com/earnings

* * * * *

W. P. Carey Inc. 9/30/2026 Earnings Release 8-K – 4

W. P. Carey Inc.

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,755 net lease properties covering approximately 189 million square feet as of September 30, 2026. With offices in New York, Dallas, London, Amsterdam and Krakow, the company remains focused on investing primarily in single-tenant industrial, warehouse and retail properties located in the U.S. and Europe, under long-term net leases with built-in rent escalations.

www.wpcarey.com

* * * * *

Cautionary Statement Concerning Forward-Looking Statements

Certain of the matters discussed in this communication constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. The forward-looking statements include, among other things, statements regarding the intent, belief or expectations of W. P. Carey and can be identified by the use of words such as “may,” “will,” “should,” “would,” “will be,” “goals,” “believe,” “project,” “expect,” “anticipate,” “intend,” “estimate,” “opportunities,” “possibility,” “strategy,” “maintain” or the negative version of these words and other comparable terms. These forward-looking statements include, but are not limited to, statements made by Mr. Jason Fox regarding expectations for 2026 AFFO per share growth, full-year investment volume and future total returns. These statements are based on the current expectations of our management, and it is important to note that our actual results could be materially different from those projected in such forward-looking statements. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Other unknown or unpredictable risks or uncertainties, like the risks related to fluctuating interest rates, the impact of inflation and tariffs on our tenants and us, the effects of pandemics and global outbreaks of contagious diseases, and domestic or geopolitical crises (such as terrorism, military conflict, war or the perception that hostilities may be imminent), political instability or civil unrest, or other conflict, and those additional risk factors discussed in reports that we have filed with the SEC, could also have material adverse effects on our future results, performance or achievements. Discussions of some of these other important factors and assumptions are contained in W. P. Carey’s filings with the SEC and are available at the SEC’s website at http://www.sec.gov, including Part I, Item 1A. Risk Factors in W. P. Carey’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this communication, unless noted otherwise. Except as required under the federal securities laws and the rules and regulations of the SEC, W. P. Carey does not undertake any obligation to release publicly any revisions to the forward-looking statements to reflect events or circumstances after the date of this communication or to reflect the occurrence of unanticipated events.

Institutional Investors:

Peter Sands

1 (212) 492-1110

institutionalir@wpcarey.com

Individual Investors:

W. P. Carey Inc.

1 (212) 492-8920

ir@wpcarey.com

Press Contact:

Anna McGrath

1 (212) 492-1166

amcgrath@wpcarey.com

* * * * *

W. P. Carey Inc. 9/30/2026 Earnings Release 8-K – 5

W. P. CAREY INC.

Consolidated Balance Sheets (Unaudited)

(in thousands, except share and per share amounts)



	September 30, 2026		December 31, 2025
Assets
Investments in real estate:
Land, buildings and improvements — net lease and other	$	15,356,587	$	14,451,306
Land, buildings and improvements — operating properties	182,180		286,079
Net investments in finance leases and loans receivable	1,176,873		1,171,886
In-place lease intangible assets and other	2,607,076		2,466,199
Above-market rent intangible assets	652,631		668,707
Investments in real estate	19,975,347		19,044,177
Accumulated depreciation and amortization (a)	(3,772,799)		(3,578,330)
Assets held for sale, net	8,173		3,327
Net investments in real estate	16,210,721		15,469,174
Equity method investments	279,024		310,178
Cash and cash equivalents	143,390		155,329
Other assets, net	1,048,175		1,068,480
Goodwill	982,118		987,071
Total assets	$	18,663,428	$	17,990,232

Liabilities and Equity
Debt:
Senior unsecured notes, net	$	7,357,845	$	6,950,261
Unsecured term loans, net	1,165,910		1,196,366
Unsecured revolving credit facility	67,388		435,417
Non-recourse mortgages, net	192,374		140,646
Debt, net	8,783,517		8,722,690
Accounts payable, accrued expenses and other liabilities	622,084		670,038
Below-market rent and other intangible liabilities, net	94,182		104,055
Deferred income taxes	158,816		151,820
Dividends payable	223,889		207,487
Total liabilities	9,882,488		9,856,090

Preferred stock, $0.001 par value, 50,000,000 shares authorized; none issued	—		—
Common stock, $0.001 par value, 450,000,000 shares authorized; 230,118,492 and 219,145,876 shares, respectively, issued and outstanding	230		219
Additional paid-in capital	12,578,438		11,830,737
Distributions in excess of accumulated earnings	(3,684,960)		(3,539,592)
Deferred compensation obligation	100,948		80,239
Accumulated other comprehensive loss	(230,077)		(253,346)
Total stockholders’ equity	8,764,579		8,118,257
Noncontrolling interests	16,361		15,885
Total equity	8,780,940		8,134,142
Total liabilities and equity	$	18,663,428	$	17,990,232

________

(a)Includes $2.2 billion and $2.1 billion of accumulated depreciation on buildings and improvements as of September 30, 2026 and December 31, 2025, respectively, and $1.5 billion of accumulated amortization on lease intangibles as of both September 30, 2026 and December 31, 2025.

W. P. Carey Inc. 9/30/2026 Earnings Release 8-K – 6

W. P. CAREY INC.

Quarterly Consolidated Statements of Income (Unaudited)

(in thousands, except share and per share amounts)


	Three Months Ended
	September 30, 2026		June 30, 2026		September 30, 2025
Revenues
Real Estate:
Lease revenues	$	422,499	$	409,661	$	372,087
Income from finance leases and loans receivable	26,954		27,162		26,498
Operating property revenues	12,247		11,638		26,771
Other lease-related income	5,726		11,209		3,660
	467,426		459,670		429,016
Investment Management:
Other advisory income and reimbursements	500		1,000		1,069
Asset management revenue	375		394		1,218
	875		1,394		2,287
	468,301		461,064		431,303
Operating Expenses
Depreciation and amortization	129,137		134,378		125,586
General and administrative	25,317		25,934		23,656
Reimbursable tenant costs	17,665		19,472		14,562
Property expenses, excluding reimbursable tenant costs	12,002		15,206		14,637
Stock-based compensation expense	9,968		13,909		11,153
Operating property expenses	9,216		8,603		15,049
Impairment charges — real estate	6,127		79,421		19,474
Merger and other expenses	540		613		1,021
	209,972		297,536		225,138
Other Income and Expenses
Interest expense	(80,388)		(78,979)		(75,226)
Other gains and (losses) (a)	(41,566)		48,558		(31,011)
Gain on sale of real estate, net	6,960		5,819		44,401
Non-operating income (b)	4,724		4,245		3,030
Earnings from equity method investments	3,587		55,579		2,361
	(106,683)		35,222		(56,445)
Income before income taxes	151,646		198,750		149,720
Provision for income taxes	(10,516)		(13,091)		(8,495)
Net Income	141,130		185,659		141,225
Net income attributable to noncontrolling interests	(180)		(270)		(229)
Net Income Attributable to W. P. Carey	$	140,950	$	185,389	$	140,996

Basic Earnings Per Share	$	0.61	$	0.82	$	0.64
Diluted Earnings Per Share	$	0.61	$	0.82	$	0.64
Weighted-Average Shares Outstanding
Basic	230,835,841		225,971,719		220,562,909
Diluted	231,701,927		227,215,203		221,087,833

Dividends Declared Per Share	$	0.950	$	0.940	$	0.910

__________

(a)Amount for the three months ended September 30, 2026 primarily comprises a mark-to-market unrealized loss for our investment in shares of Lineage of $35.8 million, a non-cash allowance for credit losses of $7.5 million and net gains on foreign currency exchange rate movements of $2.4 million.

(b)Amount for the three months ended September 30, 2026 comprises a dividend of $2.8 million from our investment in shares of Lineage, interest income on deposits of $1.2 million and realized gains on foreign currency exchange derivatives of $0.7 million.

W. P. Carey Inc. 9/30/2026 Earnings Release 8-K – 7

W. P. CAREY INC.

Year-to-Date Consolidated Statements of Income (Unaudited)

(in thousands, except share and per share amounts)


	Nine Months Ended September 30,
	2026		2025
Revenues
Real Estate:
Lease revenues	$	1,234,991	$	1,090,050
Income from finance leases and loans receivable	81,802		64,232
Operating property revenues	35,935		94,152
Other lease-related income	27,387		16,424
	1,380,115		1,264,858
Investment Management:
Other advisory income and reimbursements	2,500		3,208
Asset management and other revenue	1,259		3,872
	3,759		7,080
	1,383,874		1,271,938
Operating Expenses
Depreciation and amortization	399,698		375,788
Impairment charges — real estate	125,556		30,677
General and administrative	78,599		74,773
Reimbursable tenant costs	56,829		49,372
Property expenses, excluding reimbursable tenant costs	41,760		39,966
Stock-based compensation expense	31,318		31,244
Operating property expenses	26,513		48,314
Merger and other expenses	2,333		1,769
	762,606		651,903
Other Income and Expenses
Interest expense	(237,827)		(215,825)
Gain on sale of real estate, net	66,920		141,002
Earnings from equity method investments	63,709		13,900
Other gains and (losses)	13,783		(221,976)
Non-operating income	13,673		14,435
	(79,742)		(268,464)
Income before income taxes	541,526		351,571
Provision for income taxes	(38,241)		(33,218)
Net Income	503,285		318,353
Net income attributable to noncontrolling interests	(644)		(313)
Net Income Attributable to W. P. Carey	$	502,641	$	318,040

Basic Earnings Per Share	$	2.23	$	1.44
Diluted Earnings Per Share	$	2.21	$	1.44
Weighted-Average Shares Outstanding
Basic	225,846,771		220,511,825
Diluted	227,059,734		221,033,628

Dividends Declared Per Share	$	2.820	$	2.700

W. P. Carey Inc. 9/30/2026 Earnings Release 8-K – 8

W. P. CAREY INC.

Quarterly Reconciliation of Net Income to Adjusted Funds from Operations (AFFO) (Unaudited)

(in thousands, except share and per share amounts)


	Three Months Ended
	September 30, 2026		June 30, 2026		September 30, 2025
Net income attributable to W. P. Carey	$	140,950	$	185,389	$	140,996
Adjustments:
Depreciation and amortization of real property	128,394		133,663		124,906
Gain on sale of real estate, net	(6,960)		(5,819)		(44,401)
Impairment charges — real estate	6,127		79,421		19,474
Proportionate share of adjustments to earnings from equity method investments (a)	644		(50,133)		2,271
Proportionate share of adjustments for noncontrolling interests (b)	(23)		(26)		(82)
Total adjustments	128,182		157,106		102,168
FFO (as defined by NAREIT) Attributable to W. P. Carey (c)	269,132		342,495		243,164
Adjustments:
Other (gains) and losses (d)	41,566		(48,558)		31,011
Straight-line and other leasing and financing adjustments	(23,239)		(15,459)		(20,424)
Stock-based compensation	9,968		13,909		11,153
Amortization of deferred financing costs	5,317		5,292		4,874
Above- and below-market rent intangible lease amortization, net	3,738		3,706		4,363
Tax expense (benefit) – deferred and other	606		2,617		(1,215)
Other amortization and non-cash items	573		548		587
Merger and other expenses	540		613		1,021
Proportionate share of adjustments to earnings from equity method investments (a)	39		303		2,194
Proportionate share of adjustments for noncontrolling interests (b)	(5)		(22)		(99)
Total adjustments	39,103		(37,051)		33,465
AFFO Attributable to W. P. Carey (c)	$	308,235	$	305,444	$	276,629

Summary
FFO (as defined by NAREIT) attributable to W. P. Carey (c)	$	269,132	$	342,495	$	243,164
FFO (as defined by NAREIT) attributable to W. P. Carey per diluted share (c)	$	1.16	$	1.51	$	1.10
AFFO attributable to W. P. Carey (c)	$	308,235	$	305,444	$	276,629
AFFO attributable to W. P. Carey per diluted share (c)	$	1.33	$	1.34	$	1.25
Diluted weighted-average shares outstanding	231,701,927		227,215,203		221,087,833

W. P. Carey Inc. 9/30/2026 Earnings Release 8-K – 9

W. P. CAREY INC.

Year-to-Date Reconciliation of Net Income to Adjusted Funds from Operations (AFFO) (Unaudited)

(in thousands, except share and per share amounts)


	Nine Months Ended September 30,
	2026		2025
Net income attributable to W. P. Carey	$	502,641	$	318,040
Adjustments:
Depreciation and amortization of real property	397,537		373,773
Impairment charges — real estate	125,556		30,677
Gain on sale of real estate, net	(66,920)		(141,002)
Proportionate share of adjustments to earnings from equity method investments (a)	(47,226)		6,145
Proportionate share of adjustments for noncontrolling interests (b)	(74)		(242)
Total adjustments	408,873		269,351
FFO (as defined by NAREIT) Attributable to W. P. Carey (c)	911,514		587,391
Adjustments:
Straight-line and other leasing and financing adjustments	(62,876)		(54,831)
Stock-based compensation	31,318		31,244
Amortization of deferred financing costs	15,748		14,284
Other (gains) and losses	(13,783)		221,976
Above- and below-market rent intangible lease amortization, net	9,942		10,547
Tax expense – deferred and other	5,950		823
Merger and other expenses	2,333		1,769
Other amortization and non-cash items	1,714		1,726
Proportionate share of adjustments to earnings from equity method investments (a)	555		2,417
Proportionate share of adjustments for noncontrolling interests (b)	(79)		(227)
Total adjustments	(9,178)		229,728
AFFO Attributable to W. P. Carey (c)	$	902,336	$	817,119

Summary
FFO (as defined by NAREIT) attributable to W. P. Carey (c)	$	911,514	$	587,391
FFO (as defined by NAREIT) attributable to W. P. Carey per diluted share (c)	$	4.01	$	2.66
AFFO attributable to W. P. Carey (c)	$	902,336	$	817,119
AFFO attributable to W. P. Carey per diluted share (c)	$	3.97	$	3.70
Diluted weighted-average shares outstanding	227,059,734		221,033,628

__________

(a)Equity income, including amounts that are not typically recognized for FFO and AFFO, is recognized within Earnings from equity method investments on the consolidated statements of income. This represents adjustments to equity income to reflect FFO and AFFO on a pro rata basis.

(b)Adjustments disclosed elsewhere in this reconciliation are on a consolidated basis. This adjustment reflects our FFO or AFFO on a pro rata basis.

(c)FFO and AFFO are non-GAAP measures. See below for a description of FFO and AFFO.

(d)Amount for the three months ended September 30, 2026 primarily comprises a mark-to-market unrealized loss for our investment in shares of Lineage of $35.8 million, a non-cash allowance for credit losses of $7.5 million and net gains on foreign currency exchange rate movements of $2.4 million.

W. P. Carey Inc. 9/30/2026 Earnings Release 8-K – 10

Non-GAAP Financial Disclosure

Funds from Operations (FFO) and Adjusted Funds from Operations (AFFO)

Due to certain unique operating characteristics of real estate companies, as discussed below, the National Association of Real Estate Investment Trusts (NAREIT), an industry trade group, has promulgated a non-GAAP measure known as FFO, which we believe to be an appropriate supplemental measure, when used in addition to and in conjunction with results presented in accordance with GAAP, to reflect the operating performance of a REIT. The use of FFO is recommended by the REIT industry as a supplemental non-GAAP measure. FFO is not equivalent to, nor a substitute for, net income or loss as determined under GAAP.

We define FFO, a non-GAAP measure, consistent with the standards established by the White Paper on FFO approved by the Board of Governors of NAREIT, as restated in December 2018. The White Paper defines FFO as net income or loss computed in accordance with GAAP, excluding gains or losses from the sale of certain real estate, impairment charges on real estate or other assets incidental to the company’s main business, gains or losses on changes in control of interests in real estate and depreciation and amortization from real estate assets; and after adjustments for unconsolidated partnerships and jointly owned investments. Adjustments for unconsolidated partnerships and jointly owned investments are calculated to reflect FFO on the same basis.

We also modify the NAREIT computation of FFO to adjust GAAP net income for certain non-cash charges, such as amortization of real estate-related intangibles, deferred income tax benefits and expenses, straight-line rent and related reserves, other non-cash rent adjustments, non-cash allowance for credit losses on loans receivable and finance leases, stock-based compensation, non-cash environmental accretion expense, amortization of discounts and premiums on debt and amortization of deferred financing costs. Our assessment of our operations is focused on long-term sustainability and not on such non-cash items, which may cause short-term fluctuations in net income but have no impact on cash flows. Additionally, we exclude non-core income and expenses, such as gains or losses from extinguishment of debt, gains or losses on the mark-to-market fair value of equity securities, merger and acquisition expenses, spin-off expenses, and income and expenses associated with our captive insurance company. We also exclude realized and unrealized gains/losses on foreign currency exchange rate movements (other than those realized on the settlement of foreign currency derivatives), which are not considered fundamental attributes of our business plan and do not affect our overall long-term operating performance. We refer to our modified definition of FFO as AFFO. We exclude these items from GAAP net income to arrive at AFFO because they are not the primary drivers in our decision-making process and excluding these items provides investors with a view of our portfolio performance over time and makes it more comparable to other REITs. AFFO also reflects adjustments for unconsolidated partnerships and jointly owned investments. We use AFFO as one measure of our operating performance when we formulate corporate goals, evaluate the effectiveness of our strategies and determine executive compensation.

We believe that AFFO is a useful supplemental measure for investors to consider because we believe it will help them better assess the sustainability of our operating performance without the potentially distorting impact of these short-term fluctuations. However, there are limits on the usefulness of AFFO to investors. For example, impairment charges and unrealized foreign currency exchange rate losses that we exclude may become actual realized losses upon the ultimate disposition of the properties in the form of lower cash proceeds or other considerations. We use our FFO and AFFO measures as supplemental financial measures of operating performance. We do not use our FFO and AFFO measures as, nor should they be considered to be, alternatives to net income computed under GAAP, alternatives to net cash provided by operating activities computed under GAAP, or indicators of our ability to fund our cash needs.

W. P. Carey Inc. 9/30/2026 Earnings Release 8-K – 11

Exhibit 99.2

W. P. Carey Inc.

Supplemental Information

Third Quarter 2026

Terms and Definitions

As used in this supplemental package, the terms “W. P. Carey,” “WPC,” “we,” “us” and “our” include W. P. Carey Inc., its consolidated subsidiaries and its predecessors, unless otherwise indicated. Other terms and definitions are as follows:


REIT			Real estate investment trust
U.S.			United States
ABR			Contractual minimum annualized base rent
ASC			Accounting Standards Codification
NAREIT			National Association of Real Estate Investment Trusts (an industry trade group)
CPI			Consumer price index
EUR			Euro
EURIBOR			Euro Interbank Offered Rate
CORRA			Canadian Overnight Repo Rate Average
SOFR			Secured Overnight Financing Rate

Important Note Regarding Non-GAAP Financial Measures

This supplemental package includes certain “non-GAAP” supplemental measures that are not defined by generally accepted accounting principles (“GAAP”), including funds from operations (“FFO”); adjusted funds from operations (“AFFO”); earnings before interest, taxes, depreciation and amortization (“EBITDA”); adjusted EBITDA; pro rata cash net operating income (“pro rata cash NOI”); normalized pro rata cash NOI; and same-store pro rata rental income. FFO is a non-GAAP measure defined by NAREIT. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP measures are provided within this supplemental package. In addition, refer to the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of these non-GAAP financial measures and other metrics.

Amounts may not sum to totals due to rounding.

W. P. Carey Inc.

Supplemental Information – Third Quarter 2026


Table of Contents


Overview
Summary Metrics			1
Components of Net Asset Value			3

Financial Results
Consolidated Statements of Income – Last Five Quarters			5
FFO and AFFO, Consolidated – Last Five Quarters			6
Elements of Pro Rata Statement of Income and AFFO Adjustments			7
Capital Expenditures			8

Balance Sheets and Capitalization
Consolidated Balance Sheets			10
Capitalization			11
Debt Overview			12
Debt Maturity			13
Senior Unsecured Notes			14

Real Estate
Investment Activity
Investment Volume			16
Capital Investments and Commitments			18
Dispositions			19
Joint Ventures			20
Top 25 Tenants			21
Diversification by Property Type			22
Diversification by Tenant Industry			23
Diversification by Geography			24
Contractual Rent Increases			25
Same-Store Analysis			26
Leasing Activity			29
Lease Expirations			30

Appendix
Normalized Pro Rata Cash NOI			32
Adjusted EBITDA – Last Five Quarters			34
Reconciliation of Net Debt to Adjusted EBITDA			35
Disclosures Regarding Non-GAAP and Other Metrics			36

W. P. Carey Inc.

Overview – Third Quarter 2026


Summary Metrics

As of or for the three months ended September 30, 2026.


Financial Results
Revenues, including reimbursable costs – consolidated ($000s)	$	468,301
Net income attributable to W. P. Carey ($000s)	140,950
Net income attributable to W. P. Carey per diluted share	0.61
Normalized pro rata cash NOI ($000s) (a) (b)	408,233
Adjusted EBITDA ($000s) (a) (b)	396,027
AFFO attributable to W. P. Carey ($000s) (a) (b)	308,235
AFFO attributable to W. P. Carey per diluted share (a) (b)	1.33

Dividends declared per share – current quarter	0.950
Dividends declared per share – current quarter annualized	3.800
Dividend yield – annualized, based on quarter end share price of $64.63	5.9		%
Dividend payout ratio – for the nine months ended September 30, 2026 (c)	71.0		%

Balance Sheet and Capitalization
Equity market capitalization – based on quarter end share price of $64.63 ($000s)	$	14,872,558
Net debt ($000s) (d)	8,745,152
Enterprise value ($000s)	23,617,710

Total consolidated debt ($000s)	8,783,517
Gross assets ($000s) (e)	20,892,054
Liquidity ($000s) (f)	2,610,774

Net debt to enterprise value (b)	37.0		%
Net debt to adjusted EBITDA (annualized) (a) (b)	5.5x
Net debt to adjusted EBITDA (annualized) – inclusive of unsettled forward equity (a) (b) (g)	5.2x
Total consolidated debt to gross assets	42.0		%
Total consolidated secured debt to gross assets	0.9		%


Weighted-average interest rate – for the three months ended September 30, 2026 (b)	3.3		%
Weighted-average interest rate – as of September 30, 2026 (b)	3.3		%
Weighted-average debt maturity (years) (b)	4.7

Moody's Investors Service – issuer rating	Baa1 (stable)
Standard & Poor's Ratings Services – issuer rating	BBB+ (stable)

Real Estate Portfolio (Pro Rata)
ABR – total portfolio ($000s) (h)	$	1,657,989

Number of net-leased properties	1,755
Number of operating properties (i)	5
Number of tenants – net-leased properties	383

ABR from top ten tenants as a % of total ABR – net-leased properties	18.3		%
ABR from investment grade tenants as a % of total ABR – net-leased properties (j)	22.5		%
Contractual same-store growth (k)	2.6		%

Net-leased properties – square footage (millions)	188.7

Occupancy – net-leased properties	98.6		%
Weighted-average lease term (years)	12.0

Investment volume – current quarter ($000s)	$	181,860
Dispositions – current quarter ($000s)	26,982

Maximum commitment for capital investments and commitments expected to be completed during 2026 ($000s)	95,235

________


						Investing for the Long Run® \| 1

W. P. Carey Inc.

Overview – Third Quarter 2026

(a)Normalized pro rata cash NOI, adjusted EBITDA and AFFO are non-GAAP measures. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of our non-GAAP measures and for details on how certain non-GAAP measures are calculated.

(b)Presented on a pro rata basis. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.

(c)Represents dividends declared per share divided by AFFO per diluted share on a year-to-date basis.

(d)Represents total pro rata debt outstanding less consolidated cash and cash equivalents. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.

(e)Gross assets represent consolidated total assets before accumulated depreciation on buildings and improvements. Gross assets are net of accumulated amortization on in-place lease intangible assets of $1.0 billion and above-market rent intangible assets of $507.0 million.

(f)Represents (i) availability under our Senior Unsecured Credit Facility (net of amounts reserved for standby letters of credit), (ii) consolidated cash and cash equivalents, and (iii) available proceeds under our forward equity agreements (based on 7,612,418 remaining shares and total expected net proceeds of $537.5 million as of September 30, 2026, which will be updated at each quarter end).

(g)Reflects the impact of 7,612,418 shares of unsettled forward equity, as if they had been settled for cash, for total expected net proceeds of $537.5 million as of September 30, 2026.

(h)See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of ABR.

(i)Comprises four hotels and one student housing property.

(j)Percentage of portfolio is based on ABR, as of September 30, 2026. Includes tenants or guarantors with investment grade ratings (16.2%) and subsidiaries of non-guarantor parent companies with investment grade ratings (6.3%). Investment grade refers to an entity with a rating of BBB- or higher from Standard & Poor’s Ratings Services or Baa3 or higher from Moody’s Investors Service. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of ABR.

(k)See the Same-Store Analysis section for a description of contractual same-store growth.


						Investing for the Long Run® \| 2

W. P. Carey Inc.

Overview – Third Quarter 2026


Components of Net Asset Value

In thousands.


Normalized Pro Rata Cash NOI (a) (b)	Three Months Ended Sep. 30, 2026
Net lease properties	$	405,202
Operating properties (c)	3,031
Total normalized pro rata cash NOI (a) (b)	$	408,233

Balance Sheet – Selected Information (Consolidated Unless Otherwise Stated)	As of Sep. 30, 2026
Assets
Book value of real estate excluded from normalized pro rata cash NOI (d)	$	185,560
Cash and cash equivalents	143,390
Las Vegas retail complex construction loan (e)	245,884
Other secured loans receivable, net	39,388
Other assets, net:
Straight-line rent adjustments	$	523,758
Investment in shares of Lineage (a cold storage REIT) (f)	162,957
Deferred charges	70,992
Non-rent tenant and other receivables	59,483
Taxes receivable	48,919
Office lease right-of-use assets, net	44,887
Restricted cash, including escrow	42,023
Deferred income taxes	27,913
Prepaid expenses	19,612
Securities and derivatives	15,939
Leasehold improvements, furniture and fixtures	9,942
Rent receivables	5,979
Due from affiliates	464
Other	15,307
Total other assets, net	$	1,048,175

Liabilities
Total pro rata debt outstanding (b) (g)	$	8,888,542
Dividends payable	223,889
Deferred income taxes	158,816
Accounts payable, accrued expenses and other liabilities:
Accounts payable and accrued expenses	$	189,301
Prepaid and deferred rents	158,098
Operating lease liabilities	139,159
Tenant security deposits	46,337
Accrued taxes payable	41,315
Securities and derivatives	2,913
Other	44,961
Total accounts payable, accrued expenses and other liabilities	$	622,084

________

(a)Normalized pro rata cash NOI is a non-GAAP measure. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of our non-GAAP measures and for details on how they are calculated.

(b)Presented on a pro rata basis. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.

(c)Operating properties include four hotels and one student housing property.

(d)Represents the value of real estate not included in normalized pro rata cash NOI, such as vacant assets, in-progress build-to-suit properties, real estate under construction for certain expansion projects at existing properties and a common equity interest in the Harmon Retail Corner in Las Vegas.

(e)Represents a construction loan for a retail complex in Las Vegas, Nevada, which is included in Equity method investments (as an equity method investment in real estate) on our consolidated balance sheets. See the Investment Activity – Investment Volume section for additional information about this investment.

(f)Our investment in 5,546,547 shares of Lineage is valued on the balance sheet using the closing share price at the end of each quarter, net of an estimated sponsor promote.

(g)Excludes unamortized discount, net totaling $47.2 million and unamortized deferred financing costs totaling $36.4 million as of September 30, 2026.


						Investing for the Long Run® \| 3

W. P. Carey Inc.

Financial Results

Third Quarter 2026


						Investing for the Long Run® \| 4

W. P. Carey Inc.

Financial Results – Third Quarter 2026


Consolidated Statements of Income – Last Five Quarters

In thousands, except share and per share amounts.


	Three Months Ended
	Sep. 30, 2026		Jun. 30, 2026		Mar. 31, 2026		Dec. 31, 2025		Sep. 30, 2025
Revenues
Real Estate:
Lease revenues	$	422,499	$	409,661	$	402,831	$	389,154	$	372,087
Income from finance leases and loans receivable	26,954		27,162		27,686		26,716		26,498
Operating property revenues	12,247		11,638		12,050		18,379		26,771
Other lease-related income	5,726		11,209		10,452		8,137		3,660
	467,426		459,670		453,019		442,386		429,016
Investment Management:
Other advisory income and reimbursements	500		1,000		1,000		1,076		1,069
Asset management revenue	375		394		490		1,085		1,218
	875		1,394		1,490		2,161		2,287
	468,301		461,064		454,509		444,547		431,303
Operating Expenses
Depreciation and amortization	129,137		134,378		136,183		145,339		125,586
General and administrative	25,317		25,934		27,348		25,899		23,656
Reimbursable tenant costs	17,665		19,472		19,692		19,371		14,562
Property expenses, excluding reimbursable tenant costs	12,002		15,206		14,552		13,859		14,637
Stock-based compensation expense	9,968		13,909		7,441		8,650		11,153
Operating property expenses	9,216		8,603		8,694		11,863		15,049
Impairment charges — real estate	6,127		79,421		40,008		39,690		19,474
Merger and other expenses	540		613		1,180		478		1,021
	209,972		297,536		255,098		265,149		225,138
Other Income and Expenses
Interest expense	(80,388)		(78,979)		(78,460)		(75,431)		(75,226)
Other gains and (losses) (a)	(41,566)		48,558		6,791		(10,131)		(31,011)
Gain on sale of real estate, net	6,960		5,819		54,141		52,791		44,401
Non-operating income (b)	4,724		4,245		4,704		2,516		3,030
Earnings from equity method investments (c)	3,587		55,579		4,543		4,109		2,361
	(106,683)		35,222		(8,281)		(26,146)		(56,445)
Income before income taxes	151,646		198,750		191,130		153,252		149,720
(Provision for) benefit from income taxes	(10,516)		(13,091)		(14,634)		1,310		(8,495)
Net Income	141,130		185,659		176,496		154,562		141,225
Net income attributable to noncontrolling interests (d)	(180)		(270)		(194)		(6,243)		(229)
Net Income Attributable to W. P. Carey	$	140,950	$	185,389	$	176,302	$	148,319	$	140,996

Basic Earnings Per Share	$	0.61	$	0.82	$	0.80	$	0.67	$	0.64
Diluted Earnings Per Share	$	0.61	$	0.82	$	0.80	$	0.67	$	0.64
Weighted-Average Shares Outstanding
Basic	230,835,841		225,971,719		220,620,496		220,469,827		220,562,909
Diluted	231,701,927		227,215,203		221,618,296		221,169,776		221,087,833

Dividends Declared Per Share	$	0.950	$	0.940	$	0.930	$	0.920	$	0.910

________

(c)Amount for the three months ended June 30, 2026 includes our $49.9 million proportionate share of a gain recognized on the sale of a portfolio by a jointly owned investment.

(d)Amount for the three months ended December 31, 2025 includes a noncontrolling interest’s $6.0 million share of a gain on sale of real estate.


						Investing for the Long Run® \| 5

W. P. Carey Inc.

Financial Results – Third Quarter 2026


FFO and AFFO, Consolidated – Last Five Quarters

In thousands, except share and per share amounts.


	Three Months Ended
	Sep. 30, 2026		Jun. 30, 2026		Mar. 31, 2026		Dec. 31, 2025		Sep. 30, 2025
Net income attributable to W. P. Carey	$	140,950	$	185,389	$	176,302	$	148,319	$	140,996
Adjustments:
Depreciation and amortization of real property	128,394		133,663		135,480		144,641		124,906
Gain on sale of real estate, net	(6,960)		(5,819)		(54,141)		(52,791)		(44,401)
Impairment charges — real estate	6,127		79,421		40,008		39,690		19,474
Proportionate share of adjustments to earnings from equity method investments (a) (b)	644		(50,133)		2,263		2,255		2,271
Proportionate share of adjustments for noncontrolling interests (c) (d)	(23)		(26)		(25)		5,958		(82)
Total adjustments	128,182		157,106		123,585		139,753		102,168
FFO (as defined by NAREIT) Attributable to W. P. Carey (e)	269,132		342,495		299,887		288,072		243,164
Adjustments:
Other (gains) and losses (f)	41,566		(48,558)		(6,791)		10,131		31,011
Straight-line and other leasing and financing adjustments	(23,239)		(15,459)		(24,178)		(20,758)		(20,424)
Stock-based compensation	9,968		13,909		7,441		8,650		11,153
Amortization of deferred financing costs	5,317		5,292		5,139		4,888		4,874
Above- and below-market rent intangible lease amortization, net	3,738		3,706		2,498		941		4,363
Tax expense (benefit) — deferred and other	606		2,617		2,727		(11,708)		(1,215)
Other amortization and non-cash items	573		548		593		589		587
Merger and other expenses	540		613		1,180		478		1,021
Proportionate share of adjustments to earnings from equity method investments (a)	39		303		213		(43)		2,194
Proportionate share of adjustments for noncontrolling interests (c)	(5)		(22)		(52)		(116)		(99)
Total adjustments	39,103		(37,051)		(11,230)		(6,948)		33,465
AFFO Attributable to W. P. Carey (e)	$	308,235	$	305,444	$	288,657	$	281,124	$	276,629

Summary
FFO (as defined by NAREIT) attributable to W. P. Carey (e)	$	269,132	$	342,495	$	299,887	$	288,072	$	243,164
FFO (as defined by NAREIT) attributable to W. P. Carey per diluted share (e)	$	1.16	$	1.51	$	1.35	$	1.30	$	1.10
AFFO attributable to W. P. Carey (e)	$	308,235	$	305,444	$	288,657	$	281,124	$	276,629
AFFO attributable to W. P. Carey per diluted share (e)	$	1.33	$	1.34	$	1.30	$	1.27	$	1.25
Diluted weighted-average shares outstanding	231,701,927		227,215,203		221,618,296		221,169,776		221,087,833

________

(b)Amount for the three months ended June 30, 2026 includes our $49.9 million proportionate share of a gain recognized on the sale of a portfolio by a jointly owned investment.

(c)Adjustments disclosed elsewhere in this reconciliation are on a consolidated basis. This adjustment reflects our FFO or AFFO on a pro rata basis.

(d)Amount for the three months ended December 31, 2025 includes a noncontrolling interest’s $6.0 million share of a gain on sale of real estate.

(e)FFO and AFFO are non-GAAP measures. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of our non-GAAP measures.

(f)Amount for the three months ended September 30, 2026 primarily comprises a mark-to-market unrealized loss for our investment in shares of Lineage of $35.8 million, a non-cash allowance for credit losses of $7.5 million and net gains on foreign currency exchange rate movements of $2.4 million.


						Investing for the Long Run® \| 6

W. P. Carey Inc.

Financial Results – Third Quarter 2026


Elements of Pro Rata Statement of Income and AFFO Adjustments

In thousands. For the three months ended September 30, 2026.

We believe that the table below is useful for investors to help them better understand our business by illustrating the impact of each of our AFFO adjustments on our GAAP statement of income line items. This presentation is not an alternative to the GAAP statement of income, nor is AFFO an alternative to net income as determined by GAAP.


	Equity Method Investments (a)		Noncontrolling Interests (b)		AFFO Adjustments
Revenues
Real Estate:
Lease revenues	$	2,817	$	(44)	$	(18,465)	(c)
Income from finance leases and loans receivable	96		(140)		(1,011)
Operating property revenues	—				—
Other lease-related income	48		—		—

Investment Management:
Other advisory income and reimbursements	—		—		—
Asset management revenue	—		—		—

Operating Expenses
Depreciation and amortization	645		(23)		(129,116)		(d)
General and administrative	—		—		—
Reimbursable tenant costs	340		(7)		—
Property expenses, excluding reimbursable tenant costs	732		(22)		(471)		(e)
Stock-based compensation expense	—		—		(9,968)		(e)
Operating property expenses	—		—		—
Impairment charges — real estate	—		—		(6,127)		(e)
Merger and other expenses	—		14		(554)

Other Income and Expenses
Interest expense	—		—		5,317		(f)
Other gains and (losses)	—		24		41,542		(g)
Gain on sale of real estate, net	205		—		(7,165)
Non-operating income	82		—		—
Earnings from equity method investments	(1,531)		—		224		(h)

Provision for income taxes	—		—		607		(i)
Net income attributable to noncontrolling interests	—		122		—

________

(a)Represents the break-out by line item of amounts recorded in Earnings from equity method investments.

(b)Represents the break-out by line item of amounts recorded in Net income attributable to noncontrolling interests.

(c)Represents the reversal of amortization of above- or below-market lease intangibles of $3.7 million and the elimination of non-cash amounts related to straight-line rent and other of $22.2 million.

(d)Adjustment is a non-cash adjustment excluding corporate depreciation and amortization.

(e)Adjustment to exclude a non-cash item.

(f)Represents the elimination of non-cash components of interest expense, such as deferred financing costs, debt premiums and discounts.

(g)Primarily represents eliminations of gains (losses) on the mark-to-market fair value of equity securities, foreign currency exchange rate movements, changes in the non-cash allowance for credit losses on loans receivable and finance leases, and extinguishment of debt.

(h)Adjustments to include our pro rata share of AFFO adjustments from equity method investments.

(i)Primarily represents the elimination of deferred taxes.


						Investing for the Long Run® \| 7

W. P. Carey Inc.

Financial Results – Third Quarter 2026


Capital Expenditures

In thousands. For the three months ended September 30, 2026.


Turnover Costs (a)
Tenant improvements	$	13,083
Leasing costs	250
Total Tenant Improvements and Leasing Costs	13,333
Property improvements — net-lease properties	2,391
Property improvements — operating properties	—
Total Turnover Costs	$	15,724

Maintenance Capital Expenditures
Net-lease properties	$	2,465
Operating properties	194
Total Maintenance Capital Expenditures	$	2,659

________

(a)Turnover costs include the estimated landlord obligations in connection with the signing of a lease and exclude costs related to a first generation lease (for example, redevelopments and other capital commitments), which are included in the Investment Activity – Capital Investments and Commitments section.


						Investing for the Long Run® \| 8

W. P. Carey Inc.

Balance Sheets and Capitalization

Third Quarter 2026


						Investing for the Long Run® \| 9

W. P. Carey Inc.

Balance Sheets and Capitalization – Third Quarter 2026


Consolidated Balance Sheets

In thousands, except share and per share amounts.



	September 30, 2026		December 31, 2025
Assets
Investments in real estate:
Land, buildings and improvements — net lease and other	$	15,356,587	$	14,451,306
Land, buildings and improvements — operating properties	182,180		286,079
Net investments in finance leases and loans receivable	1,176,873		1,171,886
In-place lease intangible assets and other	2,607,076		2,466,199
Above-market rent intangible assets	652,631		668,707
Investments in real estate	19,975,347		19,044,177
Accumulated depreciation and amortization (a)	(3,772,799)		(3,578,330)
Assets held for sale, net	8,173		3,327
Net investments in real estate	16,210,721		15,469,174
Equity method investments	279,024		310,178
Cash and cash equivalents	143,390		155,329
Other assets, net	1,048,175		1,068,480
Goodwill	982,118		987,071
Total assets	$	18,663,428	$	17,990,232

Liabilities and Equity
Debt:
Senior unsecured notes, net	$	7,357,845	$	6,950,261
Unsecured term loans, net	1,165,910		1,196,366
Unsecured revolving credit facility	67,388		435,417
Non-recourse mortgages, net	192,374		140,646
Debt, net	8,783,517		8,722,690
Accounts payable, accrued expenses and other liabilities	622,084		670,038
Below-market rent and other intangible liabilities, net	94,182		104,055
Deferred income taxes	158,816		151,820
Dividends payable	223,889		207,487
Total liabilities	9,882,488		9,856,090

Preferred stock, $0.001 par value, 50,000,000 shares authorized; none issued	—		—
Common stock, $0.001 par value, 450,000,000 shares authorized; 230,118,492 and 219,145,876 shares, respectively, issued and outstanding	230		219
Additional paid-in capital	12,578,438		11,830,737
Distributions in excess of accumulated earnings	(3,684,960)		(3,539,592)
Deferred compensation obligation	100,948		80,239
Accumulated other comprehensive loss	(230,077)		(253,346)
Total stockholders' equity	8,764,579		8,118,257
Noncontrolling interests	16,361		15,885
Total equity	8,780,940		8,134,142
Total liabilities and equity	$	18,663,428	$	17,990,232

________


						Investing for the Long Run® \| 10

W. P. Carey Inc.

Balance Sheets and Capitalization – Third Quarter 2026


Capitalization

In thousands, except share and per share amounts. As of September 30, 2026.


Description	Shares	Share Price		Market Value
Equity
Common equity	230,118,492	$	64.63	$	14,872,558
Preferred equity				—
Total Equity Market Capitalization				14,872,558

				Outstanding Balance (a)
Pro Rata Debt
Non-recourse mortgages				215,841
Unsecured term loans (due February 14, 2028)				603,625
Unsecured term loan (due April 24, 2029)				567,750
Unsecured revolving credit facility (due February 14, 2029)				67,388
Senior unsecured notes:
Due April 15, 2027 (EUR)				567,750
Due April 15, 2028 (EUR)				567,750
Due July 15, 2029 (USD)				325,000
Due September 28, 2029 (EUR)				170,325
Due June 1, 2030 (EUR)				596,138
Due July 15, 2030 (USD)				400,000
Due February 1, 2031 (USD)				500,000
Due October 2, 2031 (EUR)				567,750
Due February 1, 2032 (USD)				350,000
Due July 23, 2032 (EUR)				738,075
Due September 28, 2032 (EUR)				227,100
Due April 1, 2033 (USD)				425,000
Due June 30, 2034 (USD)				400,000
Due November 19, 2034 (EUR)				681,300
Due May 10, 2035 (EUR)				567,750
Due September 15, 2036 (USD)				350,000
Total Pro Rata Debt				8,888,542

Total Capitalization				$	23,761,100

________

(a)Excludes unamortized discount, net totaling $47.2 million and unamortized deferred financing costs totaling $36.4 million as of September 30, 2026.


						Investing for the Long Run® \| 11

W. P. Carey Inc.

Balance Sheets and Capitalization – Third Quarter 2026


Debt Overview

Dollars in thousands. Pro rata. As of September 30, 2026.


	USD-Denominated				EUR-Denominated				Other Currencies (a)				Total
													Outstanding Balance
	Out-standing Balance (in USD)		Weigh-ted Avg. Interest Rate		Out-standing Balance (in USD)		Weigh-ted Avg. Interest Rate		Out-standing Balance (in USD)		Weigh-ted Avg. Interest Rate		Amount (in USD)		% of Total		Weigh-ted Avg. Interest Rate		Weigh-ted Avg. Maturity (Years)
Non-Recourse Debt (b) (c)
Fixed (d)	$	69,577	4.5	%	$	32,428	5.5	%	$	19,672	4.6	%	$	121,677	1.3	%	4.8	%	1.8
Floating	—		—	%	94,164		4.4	%	—		—	%	94,164		1.1	%	4.4	%	4.6
Total Pro Rata Non-Recourse Debt	69,577		4.5	%	126,592		4.7	%	19,672		4.6	%	215,841		2.4	%	4.6	%	3.0

Recourse Debt (b) (c)
Fixed – Senior unsecured notes:
Due April 15, 2027	—		—	%	567,750		2.1	%	—		—	%	567,750		6.4	%	2.1	%	0.5
Due April 15, 2028	—		—	%	567,750		1.4	%	—		—	%	567,750		6.4	%	1.4	%	1.5
Due July 15, 2029	325,000		3.9	%	—		—	%	—		—	%	325,000		3.7	%	3.9	%	2.8
Due September 28, 2029	—		—	%	170,325		3.4	%	—		—	%	170,325		1.9	%	3.4	%	3.0
Due June 1, 2030	—		—	%	596,138		1.0	%	—		—	%	596,138		6.7	%	1.0	%	3.7
Due July 15, 2030	400,000		4.7	%	—		—	%	—		—	%	400,000		4.5	%	4.7	%	3.8
Due February 1, 2031	500,000		2.4	%	—		—	%	—		—	%	500,000		5.6	%	2.4	%	4.3
Due October 2, 2031	—		—	%	567,750		3.3	%	—		—	%	567,750		6.4	%	3.3	%	5.0
Due February 1, 2032	350,000		2.5	%	—		—	%	—		—	%	350,000		3.9	%	2.5	%	5.3
Due July 23, 2032	—		—	%	738,075		4.3	%	—		—	%	738,075		8.3	%	4.3	%	5.8
Due September 28, 2032	—		—	%	227,100		3.7	%	—		—	%	227,100		2.5	%	3.7	%	6.0
Due April 1, 2033	425,000		2.3	%	—		—	%	—		—	%	425,000		4.8	%	2.3	%	6.5
Due June 30, 2034	400,000		5.4	%	—		—	%	—		—	%	400,000		4.5	%	5.4	%	7.8
Due November 19, 2034	—		—	%	681,300		3.7	%	—		—	%	681,300		7.7	%	3.7	%	8.1
Due May 10, 2035	—		—	%	567,750		3.8	%	—		—	%	567,750		6.4	%	3.8	%	8.6
Due September 15, 2036	350,000		5.2	%	—		—	%	—		—	%	350,000		3.9	%	5.2	%	10.0
Total Senior Unsecured Notes	2,750,000		3.7	%	4,683,938		2.9	%	—		—	%	7,433,938		83.6	%	3.2	%	5.2
Swapped to Fixed:
Unsecured term loan (due April 24, 2029) (e)	—		—	%	567,750		2.7	%	—		—	%	567,750		6.4	%	2.7	%	2.6
Unsecured term loan (due February 14, 2028) (e)	—		—	%	—		—	%	358,734		4.7	%	358,734		4.0	%	4.7	%	1.4
Floating:
Unsecured revolving credit facility (due February 14, 2029) (f)	39,000		4.5	%	28,388		3.1	%	—		—	%	67,388		0.8	%	3.9	%	2.4
Unsecured term loan (due February 14, 2028) (g)	—		—	%	—		—	%	244,891		3.0	%	244,891		2.8	%	3.0	%	1.4
Total Recourse Debt	2,789,000		3.7	%	5,280,076		2.9	%	603,625		4.0	%	8,672,701		97.6	%	3.2	%	4.7

Total Pro Rata Debt Outstanding	$	2,858,577	3.7	%	$	5,406,668	2.9	%	$	623,297	4.0	%	$	8,888,542	100.0	%	3.3	%	4.7

________

(a)Other currencies include debt denominated in British pound sterling and Canadian dollar.

(b)Debt data is presented on a pro rata basis as of September 30, 2026. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.

(c)Excludes unamortized discount, net totaling $47.2 million and unamortized deferred financing costs totaling $36.4 million as of September 30, 2026.

(d)Includes $32.4 million of non-recourse mortgage debt which is swapped to fixed-rate through mortgage maturity.

(e)Interest rate swap expiration date is December 31, 2027.

(f)We incurred interest on our Unsecured revolving credit facility at SOFR or EURIBOR, plus 0.635% for all base rates as of September 30, 2026. Each has a floor of 0.00% under the terms of our credit agreement. Availability under our Unsecured revolving credit facility (net of amounts reserved for standby letters of credit) was approximately $1.9 billion as of September 30, 2026.

(g)We incurred interest at CORRA, plus 0.75% on this Unsecured term loan as of September 30, 2026.


						Investing for the Long Run® \| 12

W. P. Carey Inc.

Balance Sheets and Capitalization – Third Quarter 2026


Debt Maturity

Dollars in thousands. Pro rata. As of September 30, 2026.


	Real Estate			Debt
	Number of Properties (a)			Weighted-Average Interest Rate				Total Outstanding Balance (b) (c)		% of Total Outstanding Balance
Year of Maturity		ABR (a)				Balloon
Non-Recourse Debt
2027	3	$	1,298	4.2	%	$	28,289	$	28,428	0.3	%
2028	5	14,082		5.0	%	72,384		76,604		0.9	%
2029	3	1,493		4.0	%	10,911		11,606		0.1	%
2031	20	18,702		4.4	%	76,928		96,017		1.1	%
2033	1	1,504		5.6	%	1,648		3,186		—	%
Total Pro Rata Non-Recourse Debt	32	$	37,079	4.6	%	$	190,160	215,841		2.4	%

Recourse Debt
Fixed – Senior unsecured notes:
Due April 15, 2027 (EUR)				2.1	%			567,750		6.4	%
Due April 15, 2028 (EUR)				1.4	%			567,750		6.4	%
Due July 15, 2029 (USD)				3.9	%			325,000		3.7	%
Due September 28, 2029 (EUR)				3.4	%			170,325		1.9	%
Due June 1, 2030 (EUR)				1.0	%			596,138		6.7	%
Due July 15, 2030 (USD)				4.7	%			400,000		4.5	%
Due February 1, 2031 (USD)				2.4	%			500,000		5.6	%
Due October 2, 2031 (EUR)				3.3	%			567,750		6.4	%
Due February 1, 2032 (USD)				2.5	%			350,000		3.9	%
Due July 23, 2032 (EUR)				4.3	%			738,075		8.3	%
Due September 28, 2032 (EUR)				3.7	%			227,100		2.5	%
Due April 1, 2033 (USD)				2.3	%			425,000		4.8	%
Due June 30, 2034 (USD)				5.4	%			400,000		4.5	%
Due November 19, 2034 (EUR)				3.7	%			681,300		7.7	%
Due May 10, 2035 (EUR)				3.8	%			567,750		6.4	%
Due September 15, 2036 (USD)				5.2	%			350,000		3.9	%
Total Senior Unsecured Notes				3.2	%			7,433,938		83.6	%
Swapped to Fixed:
Unsecured term loan (due April 24, 2029) (d)				2.7	%			567,750		6.4	%
Unsecured term loan (due February 14, 2028) (d)				4.7	%			358,734		4.0	%
Floating:
Unsecured revolving credit facility (due February 14, 2029) (e)				3.9	%			67,388		0.8	%
Unsecured term loan (due February 14, 2028) (f)				3.0	%			244,891		2.8	%
Total Recourse Debt				3.2	%			8,672,701		97.6	%

Total Pro Rata Debt Outstanding				3.3	%			$	8,888,542	100.0	%

________

(a)Represents the number of properties and ABR associated with the debt that is maturing in each respective year.

(b)Debt maturity data is presented on a pro rata basis as of September 30, 2026. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata. Total outstanding balance includes balloon payments and scheduled amortization for our non-recourse debt.

(c)Excludes unamortized discount, net totaling $47.2 million and unamortized deferred financing costs totaling $36.4 million as of September 30, 2026.

(d)Interest rate swap expiration date is December 31, 2027.

(e)We incurred interest on our Unsecured revolving credit facility at SOFR or EURIBOR, plus 0.635% for all base rates as of September 30, 2026. Each has a floor of 0.00% under the terms of our credit agreement. Availability under our Unsecured revolving credit facility (net of amounts reserved for standby letters of credit) was approximately $1.9 billion as of September 30, 2026.

(f)We incurred interest at CORRA, plus 0.75% on this Unsecured term loan as of September 30, 2026.


						Investing for the Long Run® \| 13

W. P. Carey Inc.

Balance Sheets and Capitalization – Third Quarter 2026


Senior Unsecured Notes

As of September 30, 2026.

Ratings

Issuer

Senior Unsecured Notes

Ratings Agency

Rating

Outlook

Rating

Moody's

Baa1

Stable

Baa1

Standard & Poor’s

BBB+

Stable

BBB+

Senior Unsecured Note Covenants

The following is a summary of the key financial covenants for the Senior Unsecured Notes, along with our estimated calculations of our compliance with those covenants at the end of the period presented. These ratios are not measures of our liquidity or performance and serve only to demonstrate our ability to incur additional debt, as permitted by the covenants for the Senior Unsecured Notes.

Covenant

Metric

Required

As of
Sep. 30, 2026

Limitation on the incurrence of debt

"Total Debt" /
"Total Assets"

≤ 60%

39.3%

Limitation on the incurrence of secured debt

"Secured Debt" /
"Total Assets"

≤ 40%

0.9%

Limitation on the incurrence of debt based on consolidated EBITDA to annual debt service charge

"Consolidated EBITDA" /
"Annual Debt Service Charge"

≥ 1.5x

5.1x

Maintenance of unencumbered asset value

"Unencumbered Assets" / "Total Unsecured Debt"

≥ 150%

249.8%


						Investing for the Long Run® \| 14

W. P. Carey Inc.

Real Estate

Third Quarter 2026


						Investing for the Long Run® \| 15

W. P. Carey Inc.

Real Estate – Third Quarter 2026


Investment Activity – Investment Volume

Dollars in thousands. Pro rata. For the nine months ended September 30, 2026.

Property Type(s)

Closing Date / Asset Completion Date

Gross Investment Amount

Investment Type

Lease Term (Years) (a)

Gross Square Footage

Tenant

Property Location(s)

1Q26

Hedin Mobility Group (b)

Amsterdam, the Netherlands

Retail

Jan-26

17,636

Build-to-Suit

62,810

Dollar General

Las Vegas, NM

Retail

Jan-26

2,195

Acquisition

10,542

IMS Companies

Arlington Heights, IL

Industrial

Jan-26

9,432

Acquisition

126,948

Raben Group (8 properties) (b)

Various, Poland

Warehouse

Jan-26; Feb-26

201,789

Sale-leaseback

1,857,837

EOS Fitness

Surprise, AZ

Retail

Jan-26

11,646

Build-to-Suit

40,057

HB Chemical

Solon, OH

Warehouse

Jan-26

43,387

Acquisition

412,171

Janus International

Surprise, AZ

Industrial

Feb-26

20,732

Build-to-Suit

131,753

W.C. Bradley Co. (3 properties) (c)

Peebles, OH (2 properties) and Hope, AR (1 property)

Industrial

Feb-26

22,345

Sale-leaseback

422,802

Go Auto (14 properties) (b)

Various, Canada

Retail

Mar-26

211,883

Sale-leaseback

596,176

Barnes Molding Solutions (b)

Bahlingen am Kaiserstuhl, Germany

Industrial

Mar-26

23,621

Sale-leaseback

217,011

Scania (b)

Oskarshamn, Sweden

Warehouse

Mar-26

18,188

Build-to-Suit

204,645

1Q26 Total

582,854

4,082,752

2Q26

TSEA Energy

Eden, NC

Industrial

Apr-26

12,729

Acquisition

167,555

Jumbo (b)

Breda, the Netherlands

Warehouse

Apr-26

4,678

Renovation

N/A

Summa Health

Akron, OH

Specialty (Healthcare)

Apr-26

27,165

Acquisition

71,088

Montanhydraulik (4 properties) (b)

Various, Germany

Industrial

Apr-26

51,842

Sale-leaseback

668,618

GardenCore (43 properties)

Various, US

Industrial

May-26

400,188

Sale-leaseback

1,982,032

Kesko Senukai (19 properties) (b) (d)

Various, Lithuania (12 properties), Latvia (4 properties), and Estonia (3 properties)

Retail; Warehouse

May-26

61,977

Acquisition

587,804

Ontime (2 properties) (b)

Murcia, Spain

Warehouse

May-26

33,926

Sale-leaseback

426,725

Rocky Vista University

Billings, MT

Education (Medical School)

Jun-26

25,000

Build-to-Suit

57,995

Dollar General (2 properties)

Bloomfield, NM

Retail

Jun-26

3,766

Acquisition

21,206

NewEra Nobis

Overland Park, KS

Specialty (Healthcare)

Jun-26

9,840

Expansion

7,398

Whirlpool

Tulsa, OK

Warehouse

Jun-26

74,710

Sale-leaseback

799,431

2Q26 Total

705,821

4,789,852

3Q26

Purmo Group (2 properties) (b)

Rybnik and Wałcz, Poland

Industrial

Aug-26

59,636

Sale-leaseback

898,421

Dollar General

Yah-Ta-Hey, NM

Retail

Aug-26

2,424

Acquisition

10,566

TI Automotive (b)

Brampton, Canada

Industrial

Sep-26

17,652

Build-to-Suit

120,222

Sunoco (7 properties)

Russellville (6 properties) and Dover (1 property), AR

Retail

Sep-26

25,607

Acquisition

15,869

Nord Anglia

Chicago, IL

Education (K-12 Private School)

Sep-26

70,657

Acquisition

102,000

Solar Projects (b)

Various, United States and the Netherlands

Various

Sep-26

5,419

Solar Projects

N/A

3Q26 Total

181,395

1,147,078

Year-to-Date Total

1,470,070

10,019,682


						Investing for the Long Run® \| 16

W. P. Carey Inc.

Real Estate – Third Quarter 2026


Investment Activity – Investment Volume (continued)

Dollars in thousands. Pro rata. For the nine months ended September 30, 2026.


		Property Type	Loan Origination	Loan Maturity Date	Funding				Outstanding		Maximum Commitment
Description	Property Location				Current Quarter		Year to Date
Construction Loan (e)
SW Corner of Las Vegas & Harmon (f)	Las Vegas, NV	Retail	Jun-21	2027	$	—	$	—	$	245,884	$	256,887
SE Corner of Las Vegas & Harmon (g)	Las Vegas, NV	Retail	Nov-24	2026	—		2,359		20,726		23,449
SE Corner of Las Vegas & Elvis Presley (g)	Las Vegas, NV	Retail	Nov-24	2026	465		1,245		18,662		25,000
Total					465		3,604		285,272		305,336

Year-to-Date Total Investment Volume							$	1,473,674

________

(a)Total lease terms are based on weighted-average ABR for the investments as of the respective period ends.

(b)Amount reflects the applicable exchange rate on the date of the transaction.

(c)This investment is accounted for as a loan receivable within Net investments in finance leases and loans receivable on our consolidated balance sheets, in accordance with ASC 310, Receivables and ASC 842, Leases.

(d)We acquired these properties from a jointly owned investment in which we owned a 70% interest and accounted for as an equity method investment.

(e)The borrowers for these construction loans retain certain loan maturity extension options.

(f)This construction loan is accounted for as an equity method investment on our consolidated balance sheets, in accordance with U.S. GAAP. Interest income is recognized within Earnings from equity method investments on our consolidated statements of income.

(g)These construction loans are accounted for as secured loans receivable within Net investments in finance leases and loans receivable on our consolidated balance sheets, in accordance with U.S. GAAP. Interest income is recognized within Income from finance leases and loans receivable on our consolidated statements of income.


						Investing for the Long Run® \| 17

W. P. Carey Inc.

Real Estate – Third Quarter 2026


Investment Activity – Capital Investments and Commitments (a)

Dollars in thousands. Pro rata.


		Primary Transaction Type	Property Type	Expected Completion / Closing Date	Additional Gross Square Footage	Lease Term (Years) (b)	Funded During Three Months Ended Sep. 30, 2026 (c)		Total Funded Through Sep. 30, 2026		Maximum Commitment / Gross Investment Amount
Tenant	Location										Remaining		Total
AEG Presents (d)	Austin, TX	Build-to-Suit	Specialty (Entertainment)	Q4 2026	56,403	30	$	9,492	$	34,159	$	13,397	$	47,556
Novus Foods (e)	Delphos, OH	Build-to-Suit	Industrial	Q4 2026	136,250	25	7,107		19,465		16,064		36,000
Untenanted	Atlanta, GA	Redevelopment	Warehouse	Q4 2026	99,000	N/A	1,746		2,416		9,263		11,679
Expected Completion Date 2026 Total					291,653	28	18,345		56,040		38,724		95,235

AEG Presents (d)	Portland, OR	Build-to-Suit	Specialty (Entertainment)	Q1 2027	57,825	30	7,346		34,898		25,815		60,713
Nord Anglia (e)	Houston, TX	Expansion	Education (K-12 Private School)	Q1 2027	13,150	20	3,584		4,453		3,858		8,500
Untenanted	Atlanta, GA	Redevelopment	Warehouse	Q2 2027	615,300	N/A	783		2,536		53,941		56,477
Untenanted	San Leandro, CA	Redevelopment	Warehouse	Q2 2027	67,440	N/A	3,221		5,900		9,318		15,218
Nord Anglia (e)	Coconut Creek, FL	Expansion	Education (K-12 Private School)	Q3 2027	7,685	25	—		—		11,466		11,466
Ontime (f)	Noblejas, Spain	Purchase Commitment	Industrial	Q4 2027	81,784	19	—		—		37,390		37,390
Various	Various, US	Solar Projects	Various	Various	N/A	N/A	738		1,157		13,919		15,076
Expected Completion Date 2027 Total					843,184	25	15,672		48,944		155,707		204,840

Nord Anglia (e)	Coconut Creek, FL	Expansion	Education (K-12 Private School)	Q3 2028	34,500	25	—		—		25,205		25,205
Expected Completion Date 2028 Total					34,500	25	—		—		25,205		25,205

Capital Investments and Commitments Total					1,169,337	26	$	34,017	$	104,984	$	219,636	$	325,280

________

(a)This schedule includes future estimates for which we can give no assurance as to timing or amounts. Completed capital investments and commitments are included in the Investment Activity – Investment Volume section. Funding amounts exclude capitalized construction interest.

(b)Total lease terms are based on weighted-average ABR for the investments expected upon completion.

(c)Total funding during the three months ended September 30, 2026 excludes $0.5 million spent on pre-development work for potential projects in various phases.

(d)We own a 90% interest in these joint venture projects and amounts in this table represent our pro rata share.

(e)We earn interest from this tenant, which is accrued through the construction period and deducted from the remaining commitment.

(f)Commitment amounts are based on the applicable exchange rate at period end.


						Investing for the Long Run® \| 18

W. P. Carey Inc.

Real Estate – Third Quarter 2026


Investment Activity – Dispositions

Dollars in thousands. Pro rata. For the nine months ended September 30, 2026.

Tenant

Property Location(s)

Gross Sale Price

Closing Date

Property Type(s)

Gross Square Footage

1Q26

Vacant (formerly Hellweg) (a)

Chemnitz, Germany

3,278

Jan-26

Retail

82,699

Hellweg (2 properties) (a)

Dortmund-Kley and Bonn-Beuel, Germany

6,488

Jan-26; Mar-26

Retail

140,330

AutoZone

St. Louis, MO

391

Jan-26

Retail

5,400

Vacant

Opelika, AL

52,697

Feb-26

Warehouse

702,623

TI Automotive

Gallatin, TN

7,500

Feb-26

Industrial

95,920

Self-Storage Operating Properties (11 properties)

Various, United States

75,160

Mar-26

Self-Storage (Operating)

738,942

Vacant

Oceanside, CA

11,452

Mar-26

Warehouse

58,977

Vacant (formerly Hellweg) (a)

Duisburg, Germany

5,600

Mar-26

Retail

85,993

1Q26 Total

162,566

1,910,884

2Q26

Wanbishi (a)

Saitama Prefecture, Japan

28,892

Apr-26

Industrial

156,842

TI Automotive (a)

Windsor, Canada

2,544

May-26

Industrial

98,000

Vacant

Plover, WI

9,100

May-26

Warehouse

210,000

Vacant (formerly Hellweg) (a)

Oberhausen, Germany

5,822

May-26

Retail

83,420

PPT Industrial Machines

Mt. Carmel, IL

2,238

May-26

Industrial

128,636

Vacant (a)

Guelph, Canada

11,086

Jun-26

Warehouse

109,968

Vacant

Toppenish, WA

4,800

Jun-26

Warehouse

274,750

Vacant (a)

Herceghalom, Hungary

15,569

Jun-26

Warehouse

508,797

ECI

Fargo, ND

3,600

Jun-26

Industrial

43,700

2Q26 Total

83,651

1,614,113

3Q26

Vacant (a)

Aurillac, France

2,410

Jul-26

Retail

131,589

Vacant (formerly Hellweg) (a)

Bonn-Duisdorf, Germany

6,891

Aug-26

Retail

80,234

Vacant

Muskogee, OK

3,250

Aug-26

Warehouse

84,283

Vacant

Albany, GA

9,116

Aug-26

Warehouse

653,082

Pendragon (a)

Reading, United Kingdom

5,315

Sep-26

Retail

11,311

3Q26 Total

26,982

960,499

Year-to-Date Total Dispositions

273,199

4,485,496

________

(a)Amount reflects the applicable exchange rate on the date of the transaction.


						Investing for the Long Run® \| 19

W. P. Carey Inc.

Real Estate – Third Quarter 2026


Joint Ventures

Dollars in thousands. As of September 30, 2026.


Joint Venture or JV (Principal Tenant)	JV Partnership		Consolidated				Pro Rata (a)
	Asset Type	WPC %	Debt Outstanding		ABR		Debt Outstanding		ABR
Unconsolidated Joint Ventures (Equity Method Investments) (b)
Las Vegas Retail Complex (c)	Net lease	47.50%	$	245,884	$	23,063	$	116,795	$	10,955
Harmon Retail Corner	Common equity interest	15.00%	143,000		—		21,450		—
Total Unconsolidated Joint Ventures			388,884		23,063		138,245		10,955

Consolidated Joint Ventures (d)
Fentonir (e)	Net lease	94.90%	—		2,849		—		2,704

Iowa Board of Regents	Net lease	90.00%	—		707		—		636
Total Consolidated Joint Ventures			—		3,556		—		3,340
Total Unconsolidated and Consolidated Joint Ventures			$	388,884	$	26,619	$	138,245	$	14,295

________

(a)See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.

(b)Excludes an unconsolidated joint venture (Kesko Senukai) in which we have a 70% interest that is in the process of liquidation as a result of the sale of its real estate assets to us. See the Investment Activity – Investment Volume section for additional information.

(c)Debt outstanding for this investment comprises a construction loan, which is excluded from our pro rata debt outstanding disclosed in the Debt Overview and Debt Maturity sections. See the Investment Activity – Investment Volume section for additional information about this investment. The asset is currently in lease-up and ABR reflects the current in-place leases. It does not reflect certain non-reimbursed expenses associated with the property, revenue generated from signage or interest income from our construction loan to the Las Vegas Retail Complex.

(d)Excludes two consolidated joint venture build-to-suit projects with the same tenant in which we own a 90% interest. Also excludes a vacant consolidated joint venture net lease property in which we own a 90% interest. These investments have no debt or ABR as of September 30, 2026.

(e)Amounts are based on the applicable exchange rate at the end of the period.


						Investing for the Long Run® \| 20

W. P. Carey Inc.

Real Estate – Third Quarter 2026


Top 25 Tenants

Dollars in thousands. Pro rata. As of September 30, 2026.


Tenant	Description	Number of Properties	ABR		ABR %		Weighted-Average Lease Term (Years)
Extra Space Storage	Net lease self-storage properties in the U.S. leased to publicly traded self-storage REIT	43	$	42,578	2.6	%	22.9
Apotex (a)	Pharmaceutical R&D and manufacturing properties in the Greater Toronto Area leased to generic drug manufacturer	11	34,451		2.1	%	16.5
Life Time Fitness	Health and fitness facilities in the U.S. leased to premium athletic club operator	12	32,450		2.0	%	7.1
Nord Anglia	K-12 private schools in Orlando, Miami, Houston and Chicago leased to international day and boarding school operator	4	29,415		1.8	%	22.7
GardenCore	Manufacturing, packaging and industrial outdoor storage (IOS) facilities in the U.S. leased to producer and supplier of mulch and other lawn and garden products	43	29,120		1.7	%	19.7
Metro Italia (b)	Business-to-business retail stores in Italy leased to cash and carry wholesaler	18	28,562		1.7	%	4.6
Fortenova (b)	Grocery stores and one warehouse in Croatia leased to European food retailer	19	28,266		1.7	%	7.6
OBI (b)	Retail properties in Poland leased to German DIY retailer	26	26,959		1.6	%	7.4
TI Automotive (a) (c)	Automotive parts manufacturing properties in the U.S., Canada and Mexico leased to OEM supplier	20	26,161		1.6	%	18.3
Fedrigoni (b)	Industrial and warehouse facilities in Germany, Italy and Spain leased to global manufacturer of premium packaging and labels	16	24,659		1.5	%	17.2
Top 10 Total		212	302,621		18.3	%	14.8
Kesko Senukai (b)	Distribution facilities and retail properties in Lithuania, Estonia and Latvia leased to European DIY retailer	19	24,143		1.4	%	5.4
Eroski (b)	Grocery stores and warehouses in Spain leased to Spanish food retailer	63	24,027		1.4	%	9.5
Berry Global	Manufacturing facilities in the U.S. leased to international producer and supplier of packaging solutions	8	21,301		1.3	%	12.0
Quikrete (b)	Industrial facilities in the U.S. and Canada leased to concrete and building products manufacturer	27	21,038		1.3	%	16.7
Advance Auto Parts	Distribution facilities in the U.S. leased to automotive aftermarket parts provider	28	19,929		1.2	%	6.3
Pendragon (b)	Dealerships in the United Kingdom leased to automotive retailer	45	18,522		1.1	%	12.2
Maker’s Pride	Production, packaging and distribution facilities in the U.S. leased to North American contract food manufacturer	18	18,077		1.1	%	15.8
Dollar General	Retail properties in the U.S. leased to discount retailer	130	17,823		1.1	%	12.8
Jumbo (b)	Logistics and cold storage warehouse facilities in the Netherlands leased to European supermarket chain	4	15,119		0.9	%	6.9
Danske Fragtmaend (b)	Distribution facilities in Denmark leased to Danish freight company	15	14,905		0.9	%	10.4
Top 20 Total		569	497,505		30.0	%	13.2
Intergamma (b)	Retail properties in the Netherlands leased to European DIY retailer	36	14,841		0.9	%	6.8
Go Auto (b)	Dealerships in Canada leased to automotive retailer	14	13,860		0.8	%	24.5
Rocky Vista University	Private medical schools in Colorado, Montana and Utah leased to for-profit medical school operator	5	13,326		0.8	%	24.6
Premium Brands	Food processing facility in Tennessee leased to global specialty food manufacturer	1	12,931		0.8	%	23.8
Raben Group (b)	Distribution facilities in Poland leased to European logistics company	8	12,750		0.8	%	14.4
Top 25 Total (d)		633	$	565,213	34.1	%	13.8

________

(a)ABR from these properties is denominated in U.S. dollars.

(b)ABR amounts are subject to fluctuations in foreign currency exchange rates.

(c)Of the 20 properties leased to TI Automotive, nine are located in Canada, six are located in Mexico, and five are located in the United States.

(d)See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.


						Investing for the Long Run® \| 21

W. P. Carey Inc.

Real Estate – Third Quarter 2026


Diversification by Property Type

In thousands, except percentages. Pro rata. As of September 30, 2026.


	Total Net-Lease Portfolio
Property Type	ABR		ABR %		Square Footage (a)	Square Footage %
U.S.
Industrial	$	434,882	26.2	%	59,923	31.8	%
Warehouse	236,678		14.3	%	41,349	21.9	%
Retail (b)	140,743		8.5	%	6,513	3.5	%
Other (c)	199,412		12.0	%	9,704	5.1	%
U.S. Total	1,011,715		61.0	%	117,489	62.3	%

International
Industrial	211,836		12.8	%	27,489	14.5	%
Warehouse	175,488		10.6	%	24,964	13.2	%
Retail (b)	223,722		13.5	%	16,969	9.0	%
Other (c)	35,228		2.1	%	1,812	1.0	%
International Total	646,274		39.0	%	71,234	37.7	%

Total
Industrial	646,718		39.0	%	87,412	46.3	%
Warehouse	412,166		24.9	%	66,313	35.1	%
Retail (b)	364,465		22.0	%	23,482	12.5	%
Other (c)	234,640		14.1	%	11,516	6.1	%
Total (d)	$	1,657,989	100.0	%	188,723	100.0	%

________

(a)Includes square footage for vacant properties.

(b)Includes automotive dealerships.

(c)Includes ABR from tenants with the following property types: education facility, specialty, self-storage (net lease), laboratory, research and development, hotel (net lease), office and land.

(d)See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.


						Investing for the Long Run® \| 22

W. P. Carey Inc.

Real Estate – Third Quarter 2026


Diversification by Tenant Industry

In thousands, except percentages. Pro rata. As of September 30, 2026.


	Total Net-Lease Portfolio
Industry Type (a)	ABR		ABR %		Square Footage	Square Footage %
Packaged Foods & Meats	$	148,714	9.0	%	18,140	9.6	%
Food Retail	138,580		8.4	%	10,147	5.4	%
Home Improvement Retail	98,336		5.9	%	11,996	6.4	%
Automotive Retail	94,364		5.7	%	7,712	4.1	%
Auto Parts & Equipment	82,996		5.0	%	12,074	6.4	%
Education Services	68,937		4.2	%	2,921	1.5	%
Air Freight & Logistics	66,843		4.0	%	10,006	5.3	%
Pharmaceuticals	49,621		3.0	%	3,076	1.6	%
Industrial Machinery	49,295		3.0	%	6,856	3.6	%
Leisure Facilities	45,527		2.7	%	2,020	1.1	%
Self-Storage REITs	42,578		2.6	%	3,171	1.7	%
Metal, Glass & Plastic Containers	39,944		2.4	%	5,318	2.8	%
Trading Companies & Distributors	38,941		2.3	%	8,504	4.5	%
Building Products	38,756		2.3	%	7,748	4.1	%
Environmental & Facilities Services	33,480		2.0	%	2,321	1.2	%
Paper Products	30,625		1.8	%	5,540	2.9	%
Other Specialty Retail	27,806		1.7	%	3,127	1.7	%
Specialty Chemicals	27,637		1.7	%	4,874	2.6	%
Construction Materials	24,024		1.5	%	3,781	2.0	%
Diversified Support Services	22,222		1.3	%	1,835	1.0	%
Food Distributors	21,066		1.3	%	1,552	0.8	%
Construction Machinery	20,848		1.3	%	2,733	1.5	%
Consumer Staples Merchandise Retail	20,007		1.2	%	1,667	0.9	%
Commodity Chemicals	17,230		1.0	%	2,517	1.3	%
Diversified Metals	16,726		1.0	%	3,389	1.8	%
Other (61 industries, each <1% ABR) (b)	392,886		23.7	%	45,698	24.2	%
Total (c)	$	1,657,989	100.0	%	188,723	100.0	%

________

(a)Industry classification is based on the Global Industry Classification Standard (GICS) framework.

(b)Includes square footage for vacant properties.

(c)See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.


						Investing for the Long Run® \| 23

W. P. Carey Inc.

Real Estate – Third Quarter 2026


Diversification by Geography

In thousands, except percentages. Pro rata. As of September 30, 2026.


	Total Net-Lease Portfolio
Region	ABR		ABR %		Square Footage (a)	Square Footage %
U.S.
South
Texas	$	103,427	6.2	%	12,044	6.4	%
Florida	46,326		2.8	%	3,798	2.0	%
Tennessee	39,424		2.4	%	4,476	2.4	%
Georgia	27,708		1.7	%	2,982	1.6	%
Alabama	24,412		1.5	%	2,905	1.5	%
Other (b)	43,222		2.6	%	4,498	2.4	%
Total South	284,519		17.2	%	30,703	16.3	%
Midwest
Illinois	75,448		4.5	%	9,639	5.1	%
Ohio	52,815		3.2	%	8,837	4.7	%
Indiana	44,028		2.7	%	6,251	3.3	%
Michigan	28,844		1.7	%	4,613	2.4	%
Wisconsin	20,852		1.3	%	3,200	1.7	%
Other (b)	61,527		3.7	%	7,170	3.8	%
Total Midwest	283,514		17.1	%	39,710	21.0	%
East
North Carolina	44,367		2.7	%	9,103	4.8	%
Kentucky	30,466		1.8	%	4,485	2.4	%
Massachusetts	29,917		1.8	%	1,436	0.8	%
Pennsylvania	29,783		1.8	%	3,416	1.8	%
New Jersey	26,600		1.6	%	1,139	0.6	%
New York	24,757		1.5	%	2,382	1.3	%
South Carolina	20,598		1.2	%	4,515	2.4	%
Other (b)	42,952		2.6	%	5,643	3.0	%
Total East	249,440		15.0	%	32,119	17.1	%
West
California	79,347		4.8	%	5,316	2.8	%
Arizona	25,331		1.5	%	2,544	1.3	%
Nevada	18,084		1.1	%	485	0.3	%
Other (b)	71,480		4.3	%	6,612	3.5	%
Total West	194,242		11.7	%	14,957	7.9	%
U.S. Total	1,011,715		61.0	%	117,489	62.3	%
International
Poland	82,937		5.0	%	11,204	5.9	%
Canada (c)	75,543		4.6	%	6,245	3.3	%
Italy	74,654		4.5	%	9,914	5.2	%
The Netherlands	68,831		4.2	%	6,847	3.6	%
United Kingdom	65,134		3.9	%	4,837	2.6	%
Germany	52,048		3.1	%	5,705	3.0	%
Spain	45,096		2.7	%	4,677	2.5	%
Croatia	29,179		1.8	%	2,063	1.1	%
Mexico (d)	28,147		1.7	%	4,328	2.3	%
Denmark	27,261		1.6	%	3,002	1.6	%
France	25,512		1.5	%	2,017	1.1	%
Lithuania	17,891		1.1	%	2,014	1.1	%
Other (e)	54,041		3.3	%	8,381	4.4	%
International Total	646,274		39.0	%	71,234	37.7	%
Total (f)	$	1,657,989	100.0	%	188,723	100.0	%

________

(a)Includes square footage for vacant properties.

(b)Other properties within South include assets in Arkansas, Louisiana, Oklahoma and Mississippi. Other properties within Midwest include assets in Kansas, Minnesota, Iowa, Missouri, Nebraska, South Dakota and North Dakota. Other properties within East include assets in Virginia, Maryland, West Virginia, Connecticut, New Hampshire and Maine. Other properties within West include assets in Utah, Oregon, Colorado, Montana, Idaho, Hawaii, Washington, Wyoming and New Mexico.

(c)$52.6 million (70%) of ABR from properties in Canada is denominated in U.S. dollars, with the balance denominated in Canadian dollars.

(d)All ABR from properties in Mexico is denominated in U.S. dollars.

(e)Includes assets in Slovakia, Belgium, the Czech Republic, Mauritius, Portugal, Latvia, Sweden, Austria, Estonia, Finland and Hungary.

(f)See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.


						Investing for the Long Run® \| 24

W. P. Carey Inc.

Real Estate – Third Quarter 2026


Contractual Rent Increases

In thousands, except percentages. Pro rata. As of September 30, 2026.


	Total Net-Lease Portfolio
Rent Adjustment Measure	ABR		ABR %		Square Footage	Square Footage %
Uncapped CPI	$	485,219	29.3	%	46,358	24.5	%
Capped CPI	305,754		18.4	%	41,338	21.9	%
CPI-linked	790,973		47.7	%	87,696	46.4	%
Fixed	811,558		49.0	%	94,766	50.2	%
Other (a)	47,225		2.8	%	3,359	1.8	%
None	8,233		0.5	%	313	0.2	%
Vacant	—		—	%	2,589	1.4	%
Total (b)	$	1,657,989	100.0	%	188,723	100.0	%

________

(a)Represents leases which include a percentage rent component. Includes $42.6 million (2.6%) of ABR from a tenant (Extra Space Storage), which has both a percentage rent component and annual fixed rent increases in its lease.

(b)See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.


						Investing for the Long Run® \| 25

W. P. Carey Inc.

Real Estate – Third Quarter 2026


Same-Store Analysis

Dollars in thousands. Pro rata.

Contractual Same-Store Growth

Same-store portfolio includes leases on our net leased properties that were continuously in place during the period from September 30, 2025 to September 30, 2026. Excludes leases for properties that were acquired, sold or vacated, or were subject to lease renewals, extensions or modifications at any time that affected ABR during that period. For purposes of comparability, ABR is presented on a constant currency basis using exchange rates as of September 30, 2026.


	ABR
	As of
	Sep. 30, 2026		Sep. 30, 2025		Increase		% Increase
Property Type
Industrial	$	539,577	$	525,667	$	13,910	2.6	%
Warehouse	346,334		335,207		11,127		3.3	%
Retail (a)	287,691		282,154		5,537		2.0	%
Other (b)	188,223		183,778		4,445		2.4	%
Total	$	1,361,825	$	1,326,806	$	35,019	2.6	%

Rent Adjustment Measure
Uncapped CPI	$	389,993	$	380,855	$	9,138	2.4	%
Capped CPI	262,518		254,777		7,741		3.0	%
CPI-linked	652,511		635,632		16,879		2.7	%
Fixed	656,975		640,081		16,894		2.6	%
Other (c)	46,900		45,654		1,246		2.7	%
None	5,439		5,439		—		—	%
Total	$	1,361,825	$	1,326,806	$	35,019	2.6	%

Geography
U.S.	$	835,740	$	815,365	$	20,375	2.5	%
Europe	443,193		430,781		12,412		2.9	%
Other International (d)	82,892		80,660		2,232		2.8	%
Total	$	1,361,825	$	1,326,806	$	35,019	2.6	%

Same-Store Portfolio Summary
Number of properties	1,433
Square footage (in thousands)	157,580


						Investing for the Long Run® \| 26

W. P. Carey Inc.

Real Estate – Third Quarter 2026

Comprehensive Same-Store Growth

Same-store portfolio includes net leased properties that were continuously owned and in place during the quarter ended September 30, 2025 through September 30, 2026 (including properties that were subject to lease renewals, extensions or modifications at any time during that period). Excludes properties that were acquired, sold or listed as capital investments and commitments (see Investment Activity – Capital Investments and Commitments section) during that period. For purposes of comparability, same-store pro rata rental income is presented on a constant currency basis using average exchange rates for the three months ended September 30, 2026. Same-store pro rata rental income is a non-GAAP measure. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of same-store pro rata rental income and for details on how it is calculated.


	Same-Store Pro Rata Rental Income
	Three Months Ended
	Sep. 30, 2026		Sep. 30, 2025		Increase		% Increase
Property Type
Industrial	$	132,688	$	128,543	$	4,145	3.2	%
Warehouse	90,853		88,724		2,129		2.4	%
Retail (a)	77,037		74,593		2,444		3.3	%
Other (b)	48,853		50,123		(1,270)		(2.5)	%
Total	$	349,431	$	341,983	$	7,448	2.2	%

Rent Adjustment Measure
Uncapped CPI	$	105,261	$	104,261	$	1,000	1.0	%
Capped CPI	62,836		61,259		1,577		2.6	%
CPI-linked	168,097		165,520		2,577		1.6	%
Fixed	168,627		164,102		4,525		2.8	%
Other (c)	11,551		11,300		251		2.2	%
None	1,156		1,061		95		9.0	%
Total	$	349,431	$	341,983	$	7,448	2.2	%

Geography
U.S.	$	214,874	$	210,739	$	4,135	2.0	%
Europe	112,798		110,260		2,538		2.3	%
Other International (d)	21,759		20,984		775		3.7	%
Total	$	349,431	$	341,983	$	7,448	2.2	%

Same-Store Portfolio Summary
Number of properties	1,503
Square footage (in thousands)	164,223


						Investing for the Long Run® \| 27

W. P. Carey Inc.

Real Estate – Third Quarter 2026

The following table presents a reconciliation from lease revenues to same-store pro rata rental income:


	Three Months Ended
	Sep. 30, 2026		Sep. 30, 2025
Consolidated Lease Revenues
Total lease revenues – as reported	$	422,499	$	372,087
Income from finance leases and loans receivable	26,954		26,498
Less: Reimbursable tenant costs – as reported	(17,665)		(14,562)
Less: Income from secured loans receivable	(744)		(669)
	431,044		383,354

Adjustments for Pro Rata Ownership of Real Estate Joint Ventures:
Add: Pro rata share of adjustments from equity method investments	2,477		3,625
Less: Pro rata share of adjustments for noncontrolling interests	(178)		(272)
	2,299		3,353

Adjustments for Pro Rata Non-Cash Items:
Less: Straight-line and other leasing and financing adjustments	(23,239)		(20,424)
Add: Above- and below-market rent intangible lease amortization	3,738		4,363
Less: Adjustments for pro rata ownership	17		1,780
	(19,484)		(14,281)

Adjustment to normalize for (i) properties not continuously owned since July 1, 2025 and (ii) constant currency presentation for prior year quarter (e)	(64,428)		(30,443)

Same-Store Pro Rata Rental Income	$	349,431	$	341,983

________

(a)Includes automotive dealerships.

(b)Includes ABR or same-store pro rata rental income from tenants with the following property types: education facility, specialty, self-storage (net lease), laboratory, research and development, hotel (net lease), office and land.

(c)Represents leases attributable to percentage rent.

(d)Includes assets in Canada, Mexico and Mauritius.

(e)This adjustment excludes amounts attributable to properties that were acquired, sold or listed as capital investments and commitments (see Investment Activity – Capital Investments and Commitments section) that were not continuously owned and in place during the quarter ended September 30, 2025 through September 30, 2026. In addition, for the three months ended September 30, 2025, an adjustment is made to reflect average exchange rates for the three months ended September 30, 2026 for purposes of comparability, since same-store pro rata rental income is presented on a constant currency basis.


						Investing for the Long Run® \| 28

W. P. Carey Inc.

Real Estate – Third Quarter 2026


Leasing Activity

Dollars in thousands. For the three months ended September 30, 2026, except ABR. Pro rata.


Lease Renewals and Extensions (a)										Property and Tenant Improvements (c)		Leasing Commissions
			ABR
Property Type	Square Feet	Number of Leases	Prior Lease			New Lease (b)		Rent Recapture						Incremental Lease Term
Industrial	238,681	1	$	1,417		$	1,842	130.0	%	$	1,659	$	634	10.0 years
Warehouse	316,991	2	2,492			2,554		102.5	%	—		—		5.6 years
Retail	—	—	—			—		—	%	—		—		N/A
Other	394,070	1	10,989			11,304		102.9	%	—		—		9.8 years
Total / Weighted Average	949,742	4	$	14,898		$	15,700	105.4	%	$	1,659	$	634	8.8 years

Q3 Summary
Prior Lease ABR (% of Total Portfolio)			0.9		%


New Leases					Property and Tenant Improvements (c)		Leasing Commissions
			ABR
Property Type	Square Feet	Number of Leases	New Lease (b)						New Lease Term
Industrial	35,000	1	$	270	$	243	$	93	10.0 years
Warehouse	—	—	—		—		—		N/A
Retail	510,154	6	6,879		8,842		155		13.3 years
Other	—	—	—		—		—		N/A
Total / Weighted Average (d)	545,154	7	$	7,149	$	9,085	$	248	13.2 years

_______

(a)Excludes lease extensions for a period of one year or less.

(b)New lease amounts are based on in-place rents at time of lease commencement and exclude any free rent periods.

(c)Property and tenant improvements include the estimated landlord obligations in connection with the signing of the lease.

(d)Weighted average refers to the new lease term.


						Investing for the Long Run® \| 29

W. P. Carey Inc.

Real Estate – Third Quarter 2026


Lease Expirations

Dollars and square footage in thousands. Pro rata. As of September 30, 2026.


Year of Lease Expiration (a)	Number of Leases Expiring	Number of Tenants with Leases Expiring	ABR		ABR %		Square Footage	Square Footage %
Remaining 2026	8	7	$	27,845	1.7	%	2,681	1.4	%
2027	32	22	45,904		2.8	%	4,029	2.1	%
2028	45	27	68,828		4.1	%	7,565	4.0	%
2029	53	39	66,234		4.0	%	7,446	3.9	%
2030	33	28	40,372		2.4	%	3,880	2.1	%
2031	48	30	80,967		4.9	%	9,693	5.1	%
2032	47	25	65,668		4.0	%	8,905	4.7	%
2033	35	26	89,242		5.4	%	12,001	6.4	%
2034	73	28	110,902		6.7	%	10,887	5.8	%
2035	24	20	78,842		4.8	%	8,805	4.7	%
2036	49	24	74,007		4.5	%	8,586	4.5	%
2037	49	26	71,959		4.3	%	9,591	5.1	%
2038	49	16	31,848		1.9	%	3,045	1.6	%
2039	100	27	76,677		4.6	%	11,329	6.0	%
Thereafter (>2039)	332	130	728,694		43.9	%	77,691	41.2	%
Vacant	—	—	—		—	%	2,589	1.4	%
Total (b)	977		$	1,657,989	100.0	%	188,723	100.0	%

________

(a)Assumes tenants do not exercise any renewal options or purchase options.

(b)See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.


						Investing for the Long Run® \| 30

W. P. Carey Inc.

Appendix

Third Quarter 2026


						Investing for the Long Run® \| 31

W. P. Carey Inc.

Appendix – Third Quarter 2026


Normalized Pro Rata Cash NOI

In thousands.


	Three Months Ended Sep. 30, 2026
Consolidated Lease Revenues
Total lease revenues – as reported	$	422,499
Income from finance leases and loans receivable – as reported	26,954
Less: Income from secured loans receivable	(744)

Less: Consolidated Reimbursable and Non-Reimbursable Property Expenses
Reimbursable property expenses – as reported	17,665
Non-reimbursable property expenses – as reported	12,002
	419,042

Plus: NOI from Operating Properties
Hotel revenues	11,307
Hotel expenses	(8,387)
	2,920

Student housing and other revenues	940
Student housing and other expenses	(829)
	111

	422,073

Adjustments for Pro Rata Ownership of Real Estate Joint Ventures:
Add: Pro rata share of NOI from equity method investments	1,765
Less: Pro rata share of NOI attributable to noncontrolling interests	(18)
	1,747

	423,820

Adjustments for Pro Rata Non-Cash Items:
Less: Straight-line and other leasing and financing adjustments	(23,239)
Add: Above- and below-market rent intangible lease amortization	3,738
Add: Other non-cash items	475
	(19,026)

Pro Rata Cash NOI (a)	404,794

Adjustment to normalize for net lease investments and dispositions (b)	3,439

Normalized Pro Rata Cash NOI (a)	$	408,233


						Investing for the Long Run® \| 32

W. P. Carey Inc.

Appendix – Third Quarter 2026

The following table presents a reconciliation from Net income attributable to W. P. Carey to Normalized pro rata cash NOI:


	Three Months Ended Sep. 30, 2026
Net Income Attributable to W. P. Carey
Net income attributable to W. P. Carey – as reported	$	140,950
Adjustments for Consolidated Operating Expenses
Add: Operating expenses – as reported	209,972
Less: Property expenses, excluding reimbursable tenant costs – as reported	(12,002)
Less: Operating property expenses – as reported	(9,216)
	188,754

Adjustments for Other Consolidated Revenues and Expenses:
Add: Other income and (expenses) – as reported	106,683
Less: Reimbursable property expenses – as reported	(17,665)
Add: Provision for income taxes – as reported	10,516
Less: Other lease-related income – as reported	(5,726)
Less: Other advisory income and reimbursements – as reported	(500)
Less: Asset management fees revenue – as reported	(375)
	92,933

Other Adjustments:
Less: Straight-line and other leasing and financing adjustments	(23,239)
Add: Above- and below-market rent intangible lease amortization	3,738
Adjustment to normalize for net lease investments and dispositions (b)	3,439
Add: Adjustments for pro rata ownership	1,927
Less: Income from secured loans receivable	(744)
Add: Property expenses, excluding reimbursable tenant costs, non-cash	475
	(14,404)

Normalized Pro Rata Cash NOI (a)	$	408,233

________

(a)Pro rata cash NOI and normalized pro rata cash NOI are non-GAAP measures. See the Disclosures Regarding Non-GAAP and Other Metrics section that follows for a description of our non-GAAP measures and for details on how pro rata cash NOI and normalized pro rata cash NOI are calculated.

(b)For properties acquired and capital investments and commitments completed during the three months ended September 30, 2026, the adjustment modifies our pro rata share of cash NOI for the partial period with an amount estimated to be equivalent to the additional pro rata share of cash NOI necessary to reflect ownership for the full quarter. For properties disposed of during the three months ended September 30, 2026, the adjustment eliminates our pro rata share of cash NOI for the period. If there is a rent abatement, we annualize the first monthly contractual base rent following the free rent period.


						Investing for the Long Run® \| 33

W. P. Carey Inc.

Appendix – Third Quarter 2026


Adjusted EBITDA – Last Five Quarters

In thousands.


	Three Months Ended
	Sep. 30, 2026		Jun. 30, 2026		Mar. 31, 2026		Dec. 31, 2025		Sep. 30, 2025
Net income	$	141,130	$	185,659	$	176,496	$	154,562	$	141,225

Adjustments to Derive Adjusted EBITDA (a)
Depreciation and amortization	129,137		134,378		136,183		145,339		125,586
Interest expense	80,388		78,979		78,460		75,431		75,226
Other (gains) and losses (b)	41,566		(48,558)		(6,791)		10,131		31,011
Straight-line and other leasing and financing adjustments (c)	(23,239)		(15,459)		(24,178)		(20,758)		(20,424)
Provision for (benefit from) income taxes	10,516		13,091		14,634		(1,310)		8,495
Stock-based compensation expense	9,968		13,909		7,441		8,650		11,153
Gain on sale of real estate, net	(6,960)		(5,819)		(54,141)		(52,791)		(44,401)
Impairment charges — real estate	6,127		79,421		40,008		39,690		19,474
Above- and below-market rent intangible lease amortization	3,738		3,706		2,498		941		4,363
Merger and other expenses	540		613		1,180		478		1,021
Other amortization and non-cash charges	472		446		489		467		465
	252,253		254,707		195,783		206,268		211,969

Adjustments for Pro Rata Ownership
Real Estate Joint Ventures:
Add: Pro rata share of adjustments for equity method investments (d)	684		(49,421)		3,206		2,961		5,220
Less: Pro rata share of adjustments for amounts attributable to noncontrolling interests	(217)		(324)		(280)		(429)		(430)
	467		(49,745)		2,926		2,532		4,790

Adjustment to normalize for intra-period acquisitions and dispositions (e)	2,177		6,923		4,363		3,312		2,545

Adjusted EBITDA (f)	$	396,027	$	397,544	$	379,568	$	366,674	$	360,529

________

(a)Comprises items that we do not consider to be part of our core operating business plan or representative of our overall long-term operating performance, based on a number of factors, including the nature of the item and/or the frequency with which it occurs. We believe that these adjustments provide a more representative view of EBITDA from our core operating business and allow for more meaningful comparisons.

(b)Primarily comprises gains and losses on the mark-to-market fair value of equity securities, foreign currency exchange rate movements, changes in the non-cash allowance for credit losses on loans receivable and finance leases, and extinguishment of debt. Amounts from period to period will not be comparable due to unpredictable fluctuations in these gains and losses.

(c)Straight-line rent adjustments relate to our net-leased properties subject to operating leases.

(d)Amount for the three months ended June 30, 2026 includes our $49.9 million proportionate share of a gain recognized on the sale of a portfolio by a jointly owned investment.

(e)Reflects pro forma adjustments for recurring revenues and expenses related to properties acquired or disposed of, and capital investments and commitments completed, during the applicable period, assuming all activity occurred at the beginning of the applicable period.

(f)Adjusted EBITDA is a non-GAAP measure. See the Disclosures Regarding Non-GAAP and Other Metrics section that follows for a description of our non-GAAP measures.


						Investing for the Long Run® \| 34

W. P. Carey Inc.

Appendix – Third Quarter 2026


Reconciliation of Net Debt to Adjusted EBITDA

In thousands.


	Three Months Ended
	Sep. 30, 2026
Adjusted EBITDA (a)	$	396,027

Adjusted EBITDA (Annualized)	$	1,584,108

	As of
	Sep. 30, 2026
Total Pro Rata Debt Outstanding (b)	$	8,888,542
Less: Cash and cash equivalents	(143,390)

Net Debt	$	8,745,152
Less: Expected proceeds from unsettled forward equity (c)	(537,534)
Net Debt – Inclusive of Unsettled Forward Equity	$	8,207,618

Net Debt to Adjusted EBITDA (Annualized)	5.5x
Net Debt to Adjusted EBITDA (Annualized) – Inclusive of Unsettled Forward Equity	5.2x

________

(a)Adjusted EBITDA is a non-GAAP measure. See the Disclosures Regarding Non-GAAP and Other Metrics section that follows for a description of our non-GAAP measures.

(b)Excludes unamortized discount, net totaling $47.2 million and unamortized deferred financing costs totaling $36.4 million as of September 30, 2026.

(c)Reflects the impact of (i) 950,000 shares of unsettled forward equity, as if they had been settled for cash at a net offering price of $69.93 per share and (ii) 6,662,418 shares of unsettled “at-the-market” forward equity as of September 30, 2026, as if they had been settled for cash at a weighted-average net settlement price of $70.71 per share.


						Investing for the Long Run® \| 35

W. P. Carey Inc.

Appendix – Third Quarter 2026


Disclosures Regarding Non-GAAP and Other Metrics

Non-GAAP Financial Disclosures

FFO and AFFO

Due to certain unique operating characteristics of real estate companies, as discussed below, NAREIT, an industry trade group, has promulgated a non-GAAP measure known as FFO, which we believe to be an appropriate supplemental measure, when used in addition to and in conjunction with results presented in accordance with GAAP, to reflect the operating performance of a REIT. The use of FFO is recommended by the REIT industry as a supplemental non-GAAP measure. FFO is not equivalent to, nor a substitute for, net income or loss as determined under GAAP.

Same-Store Pro Rata Rental Income

Same-store pro rata rental income is a non-GAAP financial measure that is intended to reflect the performance of our net leased properties. We define this as contractual rents from our leased properties. Same-store rental income excludes reimbursable tenant costs, amortization of intangibles and straight-line rent adjustments that are included in GAAP lease revenues. We present same-store rental income on a pro rata basis to account for our share of income related to unconsolidated joint ventures and noncontrolling interests. We believe that same-store pro rata rental income is a helpful measure that both investors and management can use to evaluate the financial performance of our leased properties. Same-store pro rata rental income should not be considered as an alternative to lease revenues 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 same-store rental income and/or same-store pro rata rental income may not be directly comparable to the way other REITs present such metrics.

Pro Rata Cash NOI

Cash net operating income (“cash NOI”) is a non-GAAP financial measure that is intended to reflect the performance of our net leased and operating properties. We define cash NOI as cash rents from our leased and operating properties less non-reimbursable property expenses. Cash NOI excludes amortization of intangibles and straight-line rent adjustments that are included in GAAP lease revenues. We present cash NOI on a pro rata basis (“pro rata cash NOI”) to account for our share of income related to unconsolidated joint ventures and noncontrolling interests. We believe that pro rata cash NOI is a helpful measure that both investors and management can use to evaluate the financial performance of our leased and operating properties and it allows for comparison of our operating performance between periods and to other REITs. Pro rata 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 and/or pro rata cash NOI may not be directly comparable to the way other REITs present such metrics.


						Investing for the Long Run® \| 36

W. P. Carey Inc.

Appendix – Third Quarter 2026

Normalized Pro Rata Cash NOI

Normalized pro rata cash NOI is pro rata cash NOI as defined above adjusted primarily to exclude our pro rata share of cash NOI from properties disposed of during the most recent quarter and to include a full quarter of pro rata cash NOI related to properties acquired or capital investments and commitments completed during the period, as applicable. If there is a rent abatement, we annualize the first monthly contractual base rent following the free rent period. We believe this measure provides a helpful representation of our net operating income from our in-place leased and operating properties.

Adjusted EBITDA

We believe that EBITDA is a useful supplemental measure to investors and analysts for assessing the performance of our business because (i) it removes the impact of our capital structure from our operating results and (ii) it is helpful when comparing our operating performance to that of companies in our industry without regard to such items, which can vary substantially from company to company. Adjusted EBITDA as disclosed represents EBITDA modified to include other adjustments to GAAP net income for certain non-cash charges, such as impairments, non-cash rent adjustments and unrealized gains and losses from our hedging activity. Additionally, we exclude gains and losses on sale of real estate, which are not considered fundamental attributes of our business plans and do not affect our overall long-term operating performance. We exclude these items from adjusted EBITDA because they are not the primary drivers in our decision-making process. Adjusted EBITDA reflects adjustments for unconsolidated partnerships and jointly owned investments. Adjusted EBITDA is also modified to reflect the pro forma impact of our investment and disposition activity, assuming all activity occurred at the beginning of the applicable period. This includes adjustments to recurring revenue and expenses related to properties acquired or disposed of, and capital investments and commitments completed, during the applicable period. Our assessment of our operations is focused on long-term sustainability and not on such non-cash and non-core items, which may cause short-term fluctuations in net income but have no impact on cash flows. We believe that adjusted EBITDA is a useful supplemental measure and representation of the performance of our business to investors and analysts, although it does not represent net income that is computed in accordance with GAAP. Accordingly, adjusted EBITDA should not be considered an alternative to net income or an indicator of our financial performance. EBITDA and adjusted EBITDA as calculated by us may not be comparable to similarly titled measures of other companies.

Other Metrics

Pro Rata Metrics

This supplemental package contains certain metrics prepared on a pro rata basis. We refer to these metrics as pro rata metrics. We have certain investments in which our economic ownership is less than 100%. On a full consolidation basis, we report 100% of the assets, liabilities, revenues and expenses of those investments that are deemed to be under our control or for which we are deemed to be the primary beneficiary, even if our ownership is less than 100%. Also, for all other jointly owned investments, which we do not control, we report our net investment and our net income or loss from that investment. On a pro rata basis, we generally present our proportionate share, based on our economic ownership of these jointly owned investments, of the assets, liabilities, revenues and expenses of those investments. Multiplying each of our jointly owned investments’ financial statement line items by our percentage ownership and adding or subtracting those amounts from our totals, as applicable, may not accurately depict the legal and economic implications of holding an ownership interest of less than 100% in our jointly owned investments.

ABR

ABR represents contractual minimum annualized base rent for our net-leased properties and reflects exchange rates as of September 30, 2026. If there is a rent abatement, we annualize the first monthly contractual base rent following the free rent period. ABR is not applicable to operating properties and is presented on a pro rata basis.


						Investing for the Long Run® \| 37

1 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 W. P. Carey Inc. | NYSE: WPC Third Quarter 2026 50+ YEARS OF INVESTING FOR THE LONG RUN® Investor Presentation Exhibit 99.3

2 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Cautionary Statement Concerning Forward-Looking Statements All data presented herein is as of September 30, 2026 unless otherwise noted. Amounts may not sum to totals due to rounding. Past performance does not guarantee future results. This presentation includes non-GAAP financial measures and other metrics, disclosures of which are included in the Appendix. This presentation references the net lease “sector”, which includes a representative list of net lease REITs: ADC, BNL, EPRT, FCPT, GTY, NNN, NTST, O. Certain of the matters discussed in this communication constitute forward-looking statements within the meaning of the Securities Act of 1933 (as amended, the “Securities Act”) and the Securities Exchange Act of 1934 (as amended, the “Exchange Act”), both as amended by the Private Securities Litigation Reform Act of 1995. The forward-looking statements include, among other things, statements regarding the intent, belief or expectations of the Company and can be identified by the use of words such as “may,” “will,” “should,” “would,” “will be,” “will continue,” “will likely result,” “believe,” “project,” “expect,” “anticipate,” “intend,” “estimate,” “opportunities,” “possibility,” “strategy,” “maintain” or the negative version of these words and other comparable terms. These forward-looking statements include, but are not limited to, statements that are not historical facts. These statements are based on the current expectations of our management, and it is important to note that our actual results could be materially different from those projected in such forward-looking statements. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Other unknown or unpredictable risks or uncertainties, like the risks related to fluctuating interest rates, the impact of inflation and tariffs on our tenants and us, the effects of pandemics and global outbreaks of contagious diseases and domestic or geopolitical crises (such as terrorism, military conflict, war or the perception that hostilities may be imminent), political instability or civil unrest, or other conflict, and those additional risk factors discussed in reports that we have filed with the SEC, could also have material adverse effects on our future results, performance or achievements. Discussions of some of these other important factors and assumptions are contained in W. P. Carey’s filings with the SEC and are available at the SEC’s website at http://www.sec.gov, including Part I, Item 1A. Risk Factors in W. P. Carey’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this communication, unless noted otherwise. Except as required under the federal securities laws and the rules and regulations of the SEC, W. P. Carey does not undertake any obligation to release publicly any revisions to the forward-looking statements to reflect events or circumstances after the date of this communication or to reflect the occurrence of unanticipated events.

3 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 4 12 23 33 39 45 Key Highlights Platform Overview Portfolio Balance Sheet Case Studies Corporate Responsibility Table of Contents

4 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 (1) AFFO is a non-GAAP measure. Refer to the Disclosures section of the Appendix for definition of this non-GAAP measure. (2) 2026E AFFO per share growth based on midpoint of third quarter guidance. (3) 2025 represents full year 2025 AFFO per share growth plus last quarter annualized (“LQA”) dividend yield as of December 31, 2025. 2026E represents full year 2026E AFFO per share growth at the midpoint plus LQA dividend yield as of September 30, 2026. Key Investor Takeaways Diversified approach to investing The most diversified REIT in the net lease sector, creating a wider investment funnel while reducing downside risk Sector-leading contractual same-store rent growth Visible, repeatable and lower-risk growth with a blend of above-average fixed rate rent bumps and CPI-linked escalators unique to WPC Repeatable annual deal volume at scale Multiple avenues of external growth support differentiated deal flow, including cross-border and development capabilities Compelling investment spreads and average yields Sector-leading average yields generated by attractive cap rates, long lease terms and above-average rent escalators Fortress balance sheet BBB+ / Baa1 rated balance sheet with ample liquidity and access to low-cost euro-denominated debt remains a key competitive advantage Targeted annual double-digit total returns Comprised of mid-single-digit annual AFFO per share growth and an attractive and well-covered, growing dividend Portfolio built to perform across cycles 50+ year track record of portfolio performance across cycles, recently enhanced by strategic initiative to simplify and strengthen the portfolio $4.4Bn investment volume closed over last 24 months > 5.0% AFFO per share growth in 2025 and 2026E (1) (2) > 11.0% AFFO growth-based total return in 2025 and 2026E (2) (3) Recent Highlights

5 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 1,617 $1,725 $1,419 $1,324 $1,582 $2,105 $2,100 2021 2022 2023 2024 2025 2026E 1.6% 3.1% 4.2% 2.9% 2.4% 2.6% 2021 2022 2023 2024 2025 3Q26 Internal Growth External Growth (1) Refer to the Disclosures section of the Appendix for definition of this metric. (2) Represents total investment volume completed year-to-date (“YTD”) through October 23, 2026, including $143MM of investment activity completed subsequent to quarter end. Excludes $95MM of remaining capital investments and commitments expected to be delivered in the 2026 fourth quarter. Powerful Combination of Internal and External Growth Drivers Repeatable deal volume underpinned by multiple avenues of external growth and diversified approach to net lease investing Longstanding track record of consistently generating sector-leading contractual same-store rent growth through fixed rent bumps and CPI-linked escalators $1.8 - $2.1 billion guidance range Annual Investment Volume ($MM)Contractual Same-Store Rent Growth (1) closed YTD (2) Record annual deal volume (following completion of WPC's office exit) Additional $2.6Bn of assets added with CPA:18 merger

6 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 (1) Going-in cap rate represents year 1 cash base rent divided by gross investment amount including transaction costs. (2) Weighted average metrics based on total investment volume completed YTD through October 23, 2026, including $143MM of investment activity completed subsequent to quarter end. Excludes $95MM of remaining capital investments and commitments expected to be delivered in the 2026 fourth quarter. (3) Represents weighted average escalation on investments with fixed rent increases. Investments with CPI-linked rent increases assumed to escalate in line with long-term inflation rates over the life of the lease. One of the highest average yields in the net lease sector, averaging over 9% on new investments Sector-Leading Average Investment Yields +190 bps+160 bps +9 years +50 bps 7.5% 2.6% 19 years 9.2%with over equals YTD (2) overwith equals7.0% 1.0% 10 years 7.3% Example Net Lease Transaction Going-in Cap Rate (1) Annual Rent Bumps Lease Term Average Yield Illustrative W. P. Carey Premium (3)

7 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Note: WPC data as of September 30, 2026. Other net lease REIT data based on company filings as of June 30, 2026. (1) After the payment of dividends and capital expenditures. Liquidity and Cost of Capital Advantage 3.3% 3.8% 4.0% 4.1% 4.1% 4.2% 4.3% 4.4% 4.6% O ADC FCPT BNL NNN NTST EPRT GTY $2.6Bn total liquidity to support investment activity ~100 - 150 bps average cost of debt benefit in Europe vs the U.S. $250 - $300MM retained cash flow expected to be generated annually (1) Net lease REIT average (ex-WPC): 4.2% $538MM unsettled forward equity available to deploy accretively Access to cheaper EUR-denominated debt reduces overall cost of debt relative to other net lease REITs✓ Weighted Average Cost of Debt

8 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 ✓ 2012 REIT Conversion Through Year End 2025 Select Metrics (2012 vs. Today) (1) (1) All 2012 metrics as of December 31, 2012, except % unencumbered ABR which is as of December 31, 2013 when W. P. Carey first reported on its unencumbered portfolio. Today’s metrics as of September 30, 2026. Deliberate Path to a Stronger Business Exited non-traded REIT advisory business Simplified business to focus exclusively on investing for the balance sheet Meaningfully increased size and scale Top-20 REIT in the RMZ with over 4x growth in equity market cap since 2012 Exited operating self-storage and residual risk office Improved portfolio and cash flow quality and composition Two-notch increase to Baa1 / BBB+ since initial credit rating Up-tiered and strengthened credit profile and liquidity Accessed new forms of low-cost growth capital Regular issuer of euro-denominated debt has been a key differentiator Enhanced dividend coverage and retained cash flow Generate meaningful re-investible cash flow each year to support capital needs 28% 0% 38% 64% $3.6Bn $14.9Bn 23% 98% Equity Market Capitalization % Unencumbered ABR % Industrial / Warehouse Management Fees % of Revenue ✓ ✓ ✓ ✓ ✓

9 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 2025 Delivered 2026 Projected Note: Market data (share price / dividend yield) per FactSet as of September 30, 2026. WPC data as of December 31, 2025 and September 30, 2026. Other net lease REIT data based on company filings as of December 31, 2025 and June 30, 2026. (1) Represents full year 2025 AFFO per share growth plus LQA dividend yield as of December 31, 2025. (2) Represents full year 2026E AFFO per share growth plus LQA dividend yield. 2026E AFFO per share based on midpoint of most recent company reported guidance or FactSet consensus estimates if not available. Enhanced Total Return Profile One of the highest AFFO growth-based total returns in the net lease sector 12.8% 11.4% 10.9% 10.9% 9.3% 9.0% 8.9% 8.8% 7.8% EPRT BNL GTY FCPT ADC NTST NNN O AFFO Growth-Based Total Return (1) 11.4% AFFO growth-based total return (1) AFFO per share growth 5.7% Dividend yield 5.7% 11.7% AFFO growth-based total return (2) AFFO per share growth 5.8% Dividend yield 5.9% 12.4% 11.7% 11.0% 11.0% 10.6% 10.6% 10.4% 9.9% 9.8% EPRT GTY BNL ADC FCPT NTST O NNN AFFO Growth-Based Total Return (2)

10 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 2026 Investment Guidance Midpoint ($MM) (2) LQA Dividend Yield Note: Market data (share price / dividend yield) per FactSet as of September 30, 2026. WPC data as of September 30, 2026. Other net lease REIT data based on company filings as of June 30, 2026. (1) 2026E AFFO per share based on midpoint of most recent company reported guidance or FactSet consensus estimates if not available. (2) FCPT and GTY do not provide investment guidance. NTST guidance represents net investment volume. Net Lease Benchmarking 2026E AFFO Multiple (1) 2026 AFFO Per Share Growth Guidance Midpoint (1) Compelling value proposition given strong AFFO growth, attractive dividend yield and accretive investment activity 7.4% 5.8% 5.8% 5.3% 4.7% 4.1% 3.9% 3.9% 3.8% EPRT ADC NTST BNL GTY FCPT O NNN $1,950 $1,700 $1,350 $750 $750 $700 na na O ADC EPRT NNN NTST BNL FCPT GTY $10,000 6.9% 6.7% 6.3% 6.0% 6.0% 5.9% 5.1% 5.0% 4.8% GTY FCPT BNL NNN O NTST EPRT ADC 14.6x 12.8x 12.7x 12.3x 12.2x 11.9x 11.8x 11.5x 11.2x ADC NTST EPRT O BNL FCPT NNN GTY

11 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 AFFO per diluted share $5.23 - $5.29 Investment volume $1.8 - $2.1 billion Disposition volume $350 - $450 million G&A expenses $104 - $106 million Property expenses $54 - $57 million AFFO tax expense $40 - $43 million AFFO $1.33 per diluted share for the third quarter Investments $1.6 billion year-to-date at 7.5% going-in cap rate / over 9% average yield $182 million during the third quarter and $143 million subsequent to quarter end Capital Projects $95 million of capital projects scheduled to be completed in the fourth quarter Same-Store Rent Growth 2.6% contractual same-store rent growth year-over-year Dispositions $273 million of assets sold through third quarter end across 33 properties $27 million during the third quarter Capital Markets $350 million of 5.20% notes due 2036 issued on July 2, 2026 $889 million of forward equity raised year-to-date Balance Sheet $2.6 billion of liquidity 5.2x net debt to adjusted EBITDA, inclusive of unsettled forward equity (1) Financial Results 2026 Guidance Update (1) Adjusted EBITDA is a non-GAAP measure. Refer to the Disclosures section of the Appendix for definition of this non-GAAP measure. Recent Financial Highlights

12 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Property: Nippon Platform Overview

13 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 50+ years investing in net lease ~$24 billion enterprise value (1) 1,755 / 383 properties / tenants 12.0 years WALT 64% / 22% / 14% industrial + warehouse / retail / other 67% / 33% North America / Europe (2) Baa1 / BBB+ Moody’s / S&P credit ratings 2.6% contractual same-store rent growth (3) 49% / 48% / 3% fixed escalations / CPI-linked / other (4) Note: Portfolio information reflects pro rata ownership of net lease real estate assets as of September 30, 2026. Percentage metrics are based on total annualized base rent (“ABR”), unless otherwise noted. (1) As of September 30, 2026. (2) Includes 0.4% of ABR from Mauritius, which is outside of Europe. (3) Year-over-year for the 2026 third quarter. (4) Represents leases with increases attributable to percentage rent (i.e., participation in the gross revenues of the tenant above a stated level), the majority of which is ABR from Extra Space Storage leases, which have both a percentage rent component and annual fixed rent increases. W. P. Carey leverages its sector-leading scale, diversification, access to capital and expertise built over multiple decades to accretively invest in mission-critical, single-tenant properties in both North America and Europe occupied by a highly diverse tenant base under long-term, triple net leases Recognized Leader in Net Lease Top-20 REIT by size in the RMZ 2nd longest WALTMost diversified Sector-leading same-store rent growth One of the safest balance sheets Proven track record across cycles Long-tenured investor in Europe 2nd lowest top tenant concentration Portfolio-wide rent growth Canadian Solar | Industrial Facility | Mesquite, TX Nemera | Solar Roof Installation | Buffalo Grove, IL Coop | Retail Store | Langa, Denmark

14 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 One Platform, Multiple Growth Levers Contractual Rent Growth North American Investments European Investments Fully integrated European platform with a unique and widely respected brand built on 25+ years of cross-border investing and structuring expertise, led by a team of local professionals with deep market relationships Asset Management Strategic Transactions Proven track record of underwriting and executing complex, large-portfolio and corporate-level transactions benefitting from size and scale 50+ years of domestic investment experience and relationship building ensures visibility into virtually every net lease opportunity in the market with a reach that has thoughtfully expanded into neighboring Canada and Mexico, with the large majority of rents paid in USD Virtually 100% of leases escalate contractually before any new capital is deployed, with fixed bumps setting an attractive floor and CPI-linked leases providing upside In-house team of experienced professionals with domestic and international development capabilities pursuing build-to-suit, redevelopment / repositioning and energy solutions for new and existing tenants Internal Growth External Growth > 99% of ABR from leases with rent escalations 50+ years investing in North America 25+ years investing in Europe ~$325MM committed Carey Tenant Solutions projects $12Bn+ completed corporate M&A since REIT conversion

15 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Illustrative Growth Comparison Historical Contractual Same-Store Rent Growth (1) Based on 2026E AFFO per share midpoint of $5.26 per third quarter guidance. Sector-Leading Same-Store Rent Growth 2.6% 2.4% 2.3% 2.4% 2.4% 2.4% 2.6% 2.6% 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 2.6% contractual same- store rent growth $2Bn+ annual deal volume at assumed 100+ bps investment spread (1) = entirely driven by existing portfolio provides an annual earnings contribution comparable to that of meaningful new investments Comparable External GrowthInternal Growth Contractual Same-Store Rent Growth

16 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 30% 18% 49% 3% Note: Portfolio information reflects pro rata ownership of net lease real estate assets as of September 30, 2026. Percentage metrics are based on total ABR, unless otherwise noted. Numbers in breakout pie charts do not sum to 100% as they represent percentage of WPC’s total ABR. (1) Represents leases with increases attributable to percentage rent (i.e., participation in the gross revenues of the tenant above a stated level), the majority of which is ABR from Extra Space Storage leases, which have both a percentage rent component and annual fixed rent increases. (2) Assumes all escalations occur on an annual basis and / or annualizes any periodic or irregular rent increases. (3) Certain CPI-linked leases include a multiplier in which rent escalates at a factor other than 1.0x. Over 99% of ABR derived from leases with contractual rent escalations, with approximately half tied to CPI Compelling Fixed and CPI-Linked Rent Escalators 3% Other (1) < 1% None Uncapped > 4.0% cap 4.0-3.0% cap < 3.0% cap % of total WPC ABR (2)(3) 30% 11% 3% 4% 85% uncapped or caps > 4.0% > 3.0% escalation 3.0-2.0% escalation 2.0-1.0% escalation < 1.0% escalation % of total WPC ABR (2) 84% fixed escalations > 2.0% 14% 27% 7% 1% 49% Fixed 30% Uncapped CPI 18% Capped CPI 48% Sector-leading CPI-linked leases

17 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Differentiated Investment Strategy Property Types Diversified with emphasis on single-tenant industrial / warehouse and essential retail increases portfolio criticality and fungibility, and reduces residual risk Tenant Industries Targeting resilient industries reduces sector-specific and cyclicality risks while strengthening cash-flow stability Tenant Base Large, industry-leading sub-IG (or unrated) tenants with access to liquidity support superior risk- adjusted returns Lease Term Long-term (15 to 25 years) leases with staggered maturities minimize annual lease rollover and improve cash flow consistency Criticality Owning tenants’ most critical and highest performing assets increases probability of renewal and tenant investment in property Sale-Leasebacks Focus on originating investments through sale-leasebacks drives better terms, criticality and deal protections Diversification is a hallmark of W. P. Carey’s approach, maximizing investment opportunities while reducing downside risk and supporting long-term performance across economic cycles Geographies Geographic focus on North America and Europe expands scope of external value-creation opportunities, increases capital sources and creates a cost of financing advantage Rent Escalators Elevated rent escalators through fixed or CPI- linked increases enhance growth profile

18 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 25+ years 20 countries 35% total volume Key Benefits Platform Overview (1) Represents annual investment volume from 2013 through September 30, 2026. Established European Platform Building deep, necessary, local market expertise and a strong deal sourcing network and establishing brand recognition Invested in across Europe gaining valuable insight into local markets and tax and regulatory regimes, which can create barriers to entry Total proportion of investment volume closed annually, on average, in Europe since REIT conversion (1) Fully integrated platform with offices in London, Amsterdam and Krakow dedicated to providing all core REIT functions including investments, asset management, tax, accounting and legal = local offices 50+ European employees Enhanced diversification Expanded scope of industries, tenants, geographies and asset types reduces downside risk Alternative, low-cost financing Meaningfully lower cost of euro debt reduces cost of capital and improves spreads Fragmented competitive landscape Less-developed net lease sector results in more limited set of competitors relative to the U.S. Higher embedded rent growth potential Leases with CPI escalators are more prevalent and provide greater upside for internal growth Large addressable market Expansive market of potential sale-leaseback opportunities increases investment universe Effective mitigation of FX risk Over-weighting of local-currency debt mitigates risk from adverse currency movements ✓ ✓ ✓ ✓ ✓ ✓

19 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Four key underwriting pillars evaluated with continuous feedback from senior management on each throughout the entire investment process Time-Tested Investment Process and Underwriting Methodology Investment decisions are based on underwriting of four key pillars in aggregate and informed by 50+ years of experience investing across virtually all asset types and market environmentsCriticality Develop a deep understanding of the property's use and operational importance Real Estate Determine market fundamentals and real estate value under various scenarios Tenant Credit Assess tenant financial health, business model and long-term operational viability Deal Structure Pursue terms that maximize upside potential and limit downside through safeguards Select key tenant credit factors: • Business and operational history • Industry drivers / trends and competitive dynamics • Financial wherewithal under stress tests • Capital structure Select key real estate factors: Replacement costs and “go-dark” values • Cost basis in the asset • Market rent vs. in-place rent • Asset quality, age, condition, reusability • Select key deal structure factors: Long lease durations often with extension options • Favorable rent bumps, either fixed or CPI-linked • Financial covenants including ongoing reporting • Master leases, guarantees, credit enhancements • Select key criticality factors: • Functionality and utilization • Profitability and coverage • Percent of tenant’s real estate footprint • Tenant-funded investment in asset

20 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 (1) Based on total investment volume completed year-to-date (“YTD”) through October 23, 2026, including $143MM of investment activity completed subsequent to quarter end. Excludes $95MM of remaining capital investments and commitments expected to be delivered in the 2026 fourth quarter. Recent Investment Activity $841 $275 $549 $656 $625 $585 $706 $182 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 YTD Metrics (1) 76% originated by sale-leaseback 71% / 29% North American / European split 19 years weighted average lease term 70% industrial + warehouse property types ~$2.1 billion of investment volume during last 12 months ~$1.6 billion completed YTD (1)7.5% going-in cap rate Quarterly Investment Volume ($MM)

21 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 (1) Excludes assets spun-off into NLOP in 2023. (2) Represents lost cash flow after recoveries on annual defaulted ABR since 2007. (3) 4Q24-4Q25 excludes a credit-related lease restructuring with former top tenant, Hellweg, in 1Q24. Proactive approach to asset management results in higher occupancy and more favorable disposition and leasing outcomes Comprehensive Approach to Asset Management 100.8% 101.5% 101.2% 102.6% 102.7% 102.7% 102.1% 102.2% 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Rent recaptures in excess of 100% typically with minimal capex while extending lease term✓ Monitor all aspects of the portfolio on an ongoing basis across asset criticality, asset quality and tenant credit, and manage all value-add / development projects 98.6% 3Q26 occupancy rate $4.2Bn+ dispositions since start of COVID (1) 25 to 50 bps average annual credit loss (2) 102.2% trailing 8 quarter rent recapture rate Allocate capex to meet tenant needs and enhance asset value including build- to-suits, redevelopments, expansions and sustainable initiatives while ensuring tenant capex obligations are fulfilled Value-Add Proactively address repositionings and end- of-lease outcomes including renewals, restructurings, new leases, blend and extends well in advance of maturities Leasing Assess all potential outcomes for a property as part of a comprehensive approach to determining whether an opportunistic or end-of-investment disposition is optimal Dispositions Trailing 8 Quarter Rent Recapture Rates (3)

22 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Build-to-Suits • Financing: funding provider through construction financing or take-out at completion • Turnkey: finance and manage the construction process from start to finish Redevelopments / Repositionings • Expansions of existing buildings to support tenant growth • Ground-up development on existing land in core markets • Large-scale retrofits and redevelopments of obsolete buildings (1) Includes build-to-suits, renovations, redevelopments, expansions, loan fundings and solar projects. Provide capital solutions to support tenant needs and augment deal volume with dedicated construction and development teams in the U.S. and Europe Carey Tenant Solutions® ~$1.1Bn completed projects since start of 2020 (1) ~$325MM committed projects through YE 2028 30 megawatts active CareySolar® signed pipeline 50 to 100 bps yield premium ✓ $20Bn+ existing portfolio with close to 400 tenants provides meaningful opportunity set ✓ Strengthens position as a full-service real estate partner for tenants and other clients ✓ Source of proprietary deal flow from existing tenant base at above-market yields ✓ Minimizes risk through deal / structural protections and pre-leasing ✓ Often can improve terms on current leases with existing tenants ✓ Ability to scale development with in-house team of experienced professionals ✓ ✓ ✓ ✓ ✓ ✓ Distinctive Advantage Energy Solutions • On-site renewables (CareySolar®) • Efficiency retrofits (e.g., LED lighting upgrades) • Smart building technologies (e.g., IoT metering) • Green infrastructure (e.g., EV charging stations, battery storage) • Carbon-neutral construction

23 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Shutterstock Stock Image Portfolio

24 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 $1.7 billion of ABR 67% / 33% North America / Europe (1) 1,755 properties 98.6% occupancy (% of SF) 98% leases with financial reporting (2) 383 tenants 48% / 52% CPI-linked / fixed rent escalations (3) Note: Portfolio information reflects pro rata ownership of net lease real estate assets as of September 30, 2026. Percentage metrics are based on total ABR, unless otherwise noted. (1) Includes 0.4% of ABR from Mauritius, which is outside of Europe. (2) Based on ABR from tenants that are required to provide ongoing financial reporting per the lease and tenants who report financials publicly. (3) Includes leases with fixed rent escalations and leases with increases attributable to percentage rent (i.e., participation in the gross revenues of the tenant above a stated level), the majority of which is ABR from Extra Space Storage leases, which have both a percentage rent component and annual fixed rent increases. Diversification across geographies, asset types, tenants and industries minimizes individual exposures and downside risk Large, Diversified Portfolio 12.0 years WALT > 99% contractual rent escalations 18.3% top 10 tenant concentration 189 million square feet 22.5% investment grade tenancy H&M | Warehouse | Gadki, Poland Go Auto | Retail | Metro Vancouver, Canada

25 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Manufacturing Logistics Food Production Cold Storage Warehouse Other 39% 25% 22% 14% Note: Portfolio information reflects pro rata ownership of net lease real estate assets as of September 30, 2026. Percentage metrics are based on total ABR, unless otherwise noted. Numbers in breakout pie charts do not sum to 100% as they represent percentage of WPC’s total ABR. Mission-critical assets with sector-leading concentration in industrial / warehouse and exposure to e-commerce resistant retail Highly Diversified by Property Type 39% Industrial 14% Other 25% Warehouse 64% Industrial + Warehouse • Industrial represents combination of highly critical manufacturing, light manufacturing (packaging and assembly) and food production where tenants often have made meaningful capital investments in facilities • Warehouse represents primarily logistics and distribution facilities critical to supply chains • Mostly concentrated in e-commerce resistant retail such as grocery, DIY and discount retail 22% Retail DIY Grocery Car Dealership Fitness Facility Cash & Carry Other Education Laboratory and R&D Self-Storage (net lease) Hotel (net lease) Healthcare Other • Diversity of property types representing smaller individual exposures % of total WPC ABR % of total WPC ABR % of total WPC ABR 4% 3% 3% 1% 1% 3% 5% 4% 3% 3% 2% 6% 28% 16% 7% 4% 4% 5%

26 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Note: Portfolio information reflects pro rata ownership of net lease real estate assets as of September 30, 2026. Percentage metrics are based on total ABR, unless otherwise noted. (1) Includes 0.4% of ABR from Mauritius (“other” property type), which is outside of Europe. (2) Includes Croatia, Denmark, France, Lithuania, Slovakia, Belgium, Czech Republic, Mauritius, Portugal, Latvia, Sweden, Austria, Estonia, Finland and Hungary. Geographic diversification reduces outsized exposure to any single region while providing a wider investment opportunity set Geographic Footprint Spanning North America and Europe State, province or country with exposure Top exposures (more than 3% of ABR) 67% North America Property Type % of Total U.S. Europe (1) Canada Mexico Industrial 39.0% 26.2% 7.8% 3.3% 1.7% Warehouse 24.9% 14.3% 10.2% 0.3% – Retail 22.0% 8.5% 12.7% 0.8% – Other 14.1% 12.0% 2.0% 0.1% <0.1% Total 100.0% 61.0% 32.7% 4.6% 1.7% 61% 5% 2% 5% 5% 4% 4% 3% 3% 9%United States Canada Mexico Poland Italy The Netherlands United Kingdom Germany Spain Other (2) North America 33% Europe (1) Top Country Exposures Property Type by Geography

27 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Note: Portfolio information reflects pro rata ownership of net lease real estate assets as of September 30, 2026. Percentage metrics are based on European portfolio ABR, unless otherwise noted. Numbers in breakout pie charts do not sum to 100% as they represent percentage of total European ABR. (1) Includes laboratory and R&D, government, hotel (net lease), education, office and land. Complementary European Portfolio 24% 32% 39% 5% 24% Industrial 32% Warehouse 56% Industrial + Warehouse Logistics Manufacturing Cold Storage Food Production Service Other % of European ABR 20% 16% 7% 4% 4% 5% DIY Grocery Car Dealership Cash & Carry Other % of European ABR 39% Retail 5% Other (1) 14% 12% 7% 6% 1% $536 million of ABR 710 properties > 99% contractual rent escalators 10.8 years WALT 98.0% occupancy (% of SF) 96 tenants Key Metrics Property Type Diversification exhibits many of the same desirable characteristics that underpin the North American portfolio European portfolio

28 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Note: Portfolio information reflects pro rata ownership of net lease real estate assets as of September 30, 2026. Percentage metrics are based on total ABR, unless otherwise noted. (1) Rent denominated in U.S. dollars. Diverse Group of Top Tenants Tenant Description Location WALT Properties % of ABR 1. Net lease self-storage properties leased to publicly traded self-storage REIT United States 22.9 43 2.6% 2. Pharmaceutical R&D and manufacturing properties leased to generic drug manufacturer Greater Toronto Area, Canada (1) 16.5 11 2.1% 3. Health and fitness facilities leased to premium athletic club operator United States 7.1 12 2.0% 4. K-12 private schools leased to international school operator Orlando / Miami (FL), Houston (TX), Chicago (IL) 22.7 4 1.8% 5. Manufacturing, packaging and IOS facilities leased to producer and supplier of mulch, lawn and garden products United States 19.7 43 1.7% 6. Business-to-business retail stores leased to cash and carry wholesaler Italy 4.6 18 1.7% 7. Grocery stores and one warehouse leased to European food retailer Croatia 7.6 19 1.7% 8. Retail properties leased to German DIY retailer Poland 7.4 26 1.6% 9. Automotive parts manufacturing properties leased to OEM supplier United States, Canada, Mexico (1) 18.3 20 1.6% 10. Industrial and warehouse facilities leased to global manufacturer of premium packaging and labels Germany, Italy, Spain 17.2 16 1.5% Top 10 Total 14.8 212 18.3% 11. Distribution facilities and retail properties leased to European DIY retailer Lithuania, Estonia, Latvia 5.4 19 1.4% 12. Grocery stores and warehouses leased to Spanish food retailer Spain 9.5 63 1.4% 13. Manufacturing facilities leased to international producer and supplier of packaging solutions United States 12.0 8 1.3% 14. Industrial facilities leased to concrete and building products manufacturer United States, Canada 16.7 27 1.3% 15. Distribution facilities leased to automotive aftermarket parts provider United States 6.3 28 1.2% 16. Dealerships leased to automotive retailer United Kingdom 12.2 45 1.1% 17. Production, packaging and distribution facilities leased to North American contract food manufacturer United States 15.8 18 1.1% 18. Retail properties leased to discount retailer United States 12.8 130 1.1% 19. Logistics and cold storage warehouse facilities leased to European supermarket chain The Netherlands 6.9 4 0.9% 20. Distribution facilities leased to Danish freight company Denmark 10.4 15 0.9% 21. Retail properties leased to European DIY retailer The Netherlands 6.8 36 0.9% 22. Dealerships leased to automotive retailer Canada 24.5 14 0.8% 23. Private medical schools leased to for-profit medical school operator Colorado, Montana, Utah 24.6 5 0.8% 24. Food processing facility leased to global specialty food manufacturer Chattanooga (TN) 23.8 1 0.8% 25. Distribution facilities leased to European logistics company Poland 14.4 8 0.8% Top 25 Total 13.8 633 34.1% Top 25 Tenants

29 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Note: Portfolio information reflects pro rata ownership of net lease real estate assets as of September 30, 2026. Percentage metrics are based on total ABR, unless otherwise noted. (1) Based on ABR from tenants that are required to provide ongoing financial reporting per the lease and tenants who report financials publicly. (2) Primarily includes family-owned businesses and independent companies. (3) Represents tenant size for tenants or guarantors or parent companies for which a tenant is a subsidiary based on most recently available LTM financial data (primarily as of FY25 or FY26). (4) Includes tenants without reporting. Focus on Large Tenants with Access to Liquidity Primarily large, non-IG or non-rated tenants with stronger capital access, critical industry roles and proven performance across cycles 40% 30% 29% 1% 24% 46% 12% 10% 1%2% 4% 2% 71% non-PE owned Public Private Non-PE (2) Private Equity (PE) Government > $10Bn $1-$10Bn $500MM-$1Bn $100-$500MM Government $50-$100MM < $50MM Other (4) 92% ABR from tenants with $100MM+ revenue or government > 98% rent collections during COVID 22.5% investment grade tenancy 98% corporate-level financial reporting (1) 82% ABR from tenants with $500MM+ revenue Tenant Ownership Type Tenant Size (Total Revenue) (3)

30 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Tenant Industry (1) % of Total U.S. Europe (2) Canada Mexico 1. Packaged Foods & Meats 9.0% 6.7% 2.2% – – 2. Food Retail 8.4% 0.4% 8.0% – – 3. Home Improvement Retail 5.9% 0.7% 5.3% – – 4. Automotive Retail 5.7% 2.4% 2.5% 0.8% – 5. Auto Parts & Equipment 5.0% 2.5% 1.2% 0.9% 0.5% 6. Education Services 4.2% 4.2% – – – 7. Air Freight & Logistics 4.0% 0.2% 3.8% – – 8. Pharmaceuticals 3.0% 0.8% – 2.2% – 9. Industrial Machinery 3.0% 1.7% 1.0% – 0.3% 10. Leisure Facilities 2.7% 2.7% – – – 11. Self-Storage REITs 2.6% 2.6% – – – 12. Metal, Glass & Plastic Containers 2.4% 2.0% 0.3% 0.2% – 13. Trading Companies & Distributors 2.3% 2.2% 0.2% – – 14. Building Products 2.3% 1.9% 0.4% 0.1% – 15. Environmental & Facilities Services 2.0% 2.0% – – – 16. Paper Products 1.8% 0.4% 1.5% – – 17. Other Specialty Retail 1.7% 1.7% – – – 18. Specialty Chemicals 1.7% 1.3% – 0.1% 0.2% 19. Construction Materials 1.5% 1.4% – 0.1% – 20. Diversified Support Services 1.3% 1.0% 0.4% – – 21. Food Distributors 1.3% 1.3% – – – 22. Construction Machinery 1.3% 0.3% 0.5% – 0.5% 23. Consumer Staples Merchandise Retail 1.2% 1.1% 0.1% – – 24. Commodity Chemicals 1.0% 1.0% – 0.0% – 25. Diversified Metals 1.0% 0.4% 0.6% – – Other (61 industries, each < 1% of ABR) 23.7% 18.4% 5.0% 0.2% 0.2% Total 100.0% 61.0% 32.7% 4.6% 1.7% Top 5 Industries Note: Portfolio information reflects pro rata ownership of net lease real estate assets as of September 30, 2026. Percentage metrics are based on total ABR. (1) Industry classification is based on the Global Industry Classification Standard (GICS) framework. (2) Includes 0.4% of ABR from Mauritius (“other”), which is outside of Europe. Broad Mix of Tenant Industries Industry diversification, cross-diversified by geography and tenant, reduces sector-specific risk and strengthens cash flow stability Auto Parts and Equipment Mostly large, tier 1 OEM names with critical facilities primarily located in North America with top exposures to TI Automotive (1.6%), Gestamp (0.4%) and Autokiniton (0.3%) 5% Packaged Foods & Meats Diverse mix of food producers in highly critical facilities primarily located in the U.S. with top exposures to Maker’s Pride (1.1%), Premium Brands (0.8%) and Greenyard (0.7%) 9% Food Retail Primarily cash & carry and grocery formats located in Europe and with top exposures to Metro (1.7%), Fortenova (1.7%) and Eroski (1.4%) 8% Home Improvement Retail Mostly retail DIY stores with some distribution centers primarily located in Europe with top exposures to OBI (1.6%), Senukai (1.4%) and Intergamma (0.9%) 6% Automotive Retail Primarily dealerships mostly located in Europe or Canada and parts retail stores in the U.S. with top exposures to Advance Auto (1.2%), Pendragon (1.1%) and Go Auto (0.8%) 6%

31 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 1.7% 2.8% 4.2% 4.0% 2.4% 4.9% 4.0% 5.4% 6.7% 4.8% 4.5% 54.8% 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Thereafter Lease Expiration Schedule by Property Type (1) Note: Portfolio information reflects pro rata ownership of net lease real estate assets as of September 30, 2026. Percentage metrics are based on total ABR, unless otherwise noted. (1) Assumes tenants do not exercise any renewal or purchase options. Staggered Lease Expirations and Long WALT Long initial lease terms and proactive asset management minimize the ABR rolling in any one year Industrial + Warehouse Retail Other 12 years WALT < 13% leases (by ABR) expiring through 2029

32 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Top 10 Tenant Concentration Weighted Average Lease Term (Years) Note: WPC data as of September 30, 2026. Other net lease REIT data based on company filings as of June 30, 2026. Percentage metrics are based on total ABR, unless otherwise noted. Portfolio Benchmarking Property Type International Exposure Differentiated and attractive portfolio across a number of important characteristics 39% 21% 2% 0% 0% 0% 0% 0% 0% O BNL ADC EPRT GTY FCPT NNN NTST 15% 18% 21% 23% 29% 31% 35% 58% 61% EPRT BNL O NNN NTST ADC GTY FCPT 14.3 12.0 10.3 10.1 10.0 9.3 8.6 7.7 6.6 EPRT GTY NNN NTST BNL O ADC FCPT 64% 63% 16% 6% 22% 29% 78% 79% 100% 100% 100% 100% 100% 14% 8% 6% 15% BNL O EPRT ADC FCPT GTY NNN NTST Industrial & Warehouse Retail Other Most diversified by property type and largest industrial exposure✓ U.S. exposure only Most geographically diversified✓ Second highest WALT✓Second lowest top tenant concentration✓

33 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Property: Fedrigoni Balance Sheet

34 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Select Net Lease REITs by Size – Equity Market Cap ($Bn) Largest REITs in the RMZ Note: Market data (share price) per S&P Capital IQ as of September 30, 2026. WPC capitalization data as of September 30, 2026. Other REIT capitalization data based on company filings as of June 30, 2026. Size and Scale W. P. Carey’s scale promotes greater operational efficiency, access to capital and ability to invest in larger deals without concentration issues as one of the largest REITs in the net lease sector and RMZ index # Company Equity Mkt Cap ($Bn) RMZ Weighting 1 WELL Welltower $165.9 12.8% 2 PLD Prologis 123.4 9.5% 3 EQIX Equinix 99.8 7.7% 4 DLR Digital Realty Trust 65.1 5.0% 5 SPG Simon Property Group 65.0 5.0% 6 PSA Public Storage 52.8 4.1% 7 O Realty Income 51.2 3.9% 8 VMRK Vivmark Residential 47.0 3.6% 9 VTR Ventas 43.6 3.4% 10 IRM Iron Mountain 33.0 2.5% 11 EXR Extra Space Storage 27.8 2.1% 12 VICI VICI Properties 25.3 1.9% 13 ESS Essex Property Trust 17.3 1.3% 14 INVH Invitation Homes 15.6 1.2% 15 HST Host Hotels & Resorts 15.3 1.2% 16 KIM Kimco Realty 14.9 1.1% 17 WPC 14.9 1.1% 18 OHI Omega Healthcare Investors Inc 14.0 1.1% 19 DOC Healthpeak Properties 13.8 1.1% 20 MAA Mid-America Apartment Communities 13.7 1.1% $14.9 $8.3 $7.9 $5.6 $3.6 $2.4 $1.8 $1.7 $25.3 $11.0 O ADC NNN EPRT BNL FCPT NTST GTY VICI GLPI Gaming REITsNet Lease REITs $51.2

35 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Baa1 (stable) Balance Sheet Highlights Liquidity – September 30, 2026 ($MM) Note: Balance sheet data as of September 30, 2026. (1) Inclusive of unsettled forward equity. Fortress, Investment Grade Balance Sheet Conservative, investment grade credit profile with low leverage and high coverage Significant liquidity, capital access and retained cash flow support investment volume Sector-leading cost of debt provides cost of capital advantage to fund growth Frequent issuer across the capital markets diversifies and broadens funding sources Well-staggered debt maturities with diverse types of debt due each year Unencumbered balance sheet with minimal floating rate debt ✓ BBB+ (stable) Corporate Credit Ratings 1,930 143 538 $2,611 Forward equity Cash Revolving credit facility availability ✓ ✓ ✓ ✓ ✓ Key Metrics $23.6 billion enterprise value 37.0% net debt to enterprise value 3.3% weighted average interest rate $14.9 billion equity market capitalization 5.5x / 5.2x net debt to adjusted EBITDA 4.7 years weighted average debt maturity Ample liquidity with over $2.6 billion to fund growth✓ (1)

36 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 28 72 11 77 2 170 227 568 568 596 568 738 681 568 325 400 500 350 425 400 350 604 568 67 $0 $596 $1,244 $1,141 $996 $1,145 $1,315 $427 $1,081 $568 $350 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Principal Debt Due at Maturity ($MM) Note: Balance sheet data as of September 30, 2026. Reflects amount due at maturity, excluding unamortized discount and unamortized deferred financing costs. Mortgages reflect pro rata balloon payments due at maturity. Revolver includes amounts drawn under the credit facility as of September 30, 2026. (1) Includes debt which is swapped to a fixed rate. Well-Laddered Debt Maturities Revolving Credit Facility Term Loans USD Bonds EUR Bonds EUR Private Placement Mortgages 95% fixed rate debt (1) 98% unencumbered ABR

37 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 ~$5Bn total capital markets activity since beginning of 2024 Note: Foreign-denominated issuance converted to USD as of the time of issuance. Active Issuer of Capital $889MM forward equity raised year-to-date $1.5Bn USD-equivalent in bonds issued year-to-date 3.9% weighted average interest rate on bonds issued year-to-date Recent Capital Markets Activity Demonstrated access to capital with over $2.4 billion raised year-to-date✓ Public USD Bonds • $350 million of 10-year notes issued July 2026 • $400 million of 5-year notes issued July 2025 Public EUR Bonds • €500 million of long 5-year notes issued February 2026 • €500 million of 9-year notes issued February 2026 ATM Sales • $392 million of forward equity raised via ATM year-to-date • $423 million of forward equity raised via ATM during second half of 2025 Forward Equity Offering • $497 million of forward equity raised via offering in February 2026 CAD Term Loan • Replaced existing €215 million term loan (due 2028) with a ~C$347 million term loan with options to extend to 2029, currently priced at an all-in rate of 3.0%

38 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 LQA Dividend Yield YTD Payout Ratio (1) Quarterly Dividends Declared Per Share (Annualized) Note: Market data (share price / dividend yield) per FactSet as of September 30, 2026. Net lease REIT data based on company filings as of June 30, 2026. WPC data as of September 30, 2026. (1) Represents dividends declared per share divided by AFFO per share on a year-to-date basis. (2) After the payment of dividends and capital expenditures. Well-Supported Dividend 6.9% 6.7% 6.3% 6.0% 6.0% 5.9% 5.1% 5.0% 4.8% GTY FCPT BNL NNN O NTST EPRT ADC 81% 78% 76% 73% 71% 70% 68% 64% 63% FCPT GTY BNL O ADC NNN NTST EPRT $3.20 $3.30 $3.40 $3.50 $3.60 $3.70 $3.80 $3.90 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 $250 - $300MM retained cash flow expected annually (2) 4.4% YoY growth $3.80 current quarter, annualized

39 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Property: Intergamma Case Studies

40 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Tenant Credit • Leading manufacturer of bagged mulch and other lawn / garden products Real Estate • Vertically integrated facilities with strategic proximity to inputs and customers Criticality • Represents all of tenant’s existing owned real estate, generating majority of revenue Structure • 20-year initial term on master lease with renewal options and annual fixed rent bumps Recent North American Transactions Closed: May 2026 Transaction: $400 million sale-leaseback Properties: 43 mulch manufacturing facilities Location: 24 states across the U.S. Gross Square Footage: 1,982,032 Lease Structure: 20-year NNN; fixed annual bumps Closed: February 2026 Transaction: $22 million sale-leaseback Properties: Three pellet manufacturing facilities Location: Peebles, OH and Hope, AR Gross Square Footage: 422,802 Lease Structure: 15-year NNN; fixed annual bumps Tenant Credit • Leading manufacturer and distributor of outdoor cooking products Real Estate • Highly functional wood mills valuable to users in adjacent industries • Strategically located sites close to suppliers Criticality • Represents 100% of tenant’s sales and production capacity for BBQ pellet business Structure • 15-year initial term on master lease with renewal options and annual fixed rent bumps

41 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Tenant Credit • Global leader in manufacturing and after-market servicing of hydraulic cylinders Real Estate • Production facilities in infill locations acquired at low basis Criticality • Portfolio accounts for large portion of tenant’s business and is difficult to replicate Structure • 25-year initial term on master lease with renewal options and CPI-linked rent bumps Recent European Transactions Closed: April 2026 Transaction: $52 million sale-leaseback Properties: Four industrial production facilities Location: Germany Gross Square Footage: 668,618 Lease Structure: 25-year NNN; CPI-linked bumps Closed: January – February 2026 Transaction: $202 million sale-leaseback Properties: Eight logistics and warehouse facilities Location: Poland Gross Square Footage: 1,857,837 Lease Structure: 15-year NNN; CPI-linked bumps Tenant Credit • Leading European third-party logistics operator with top market share in Poland Real Estate • Large logistics hub within major industrial area with strategically located satellite sites • Extensive cross-docking capabilities highly useful for 3PL operators Criticality • Self-developed by tenant – equipped with state-of-the-art technology and infrastructure • Portfolio includes tenant’s central distribution center in Poland Structure • 15-year initial term on master lease with renewal options and CPI-linked rent bumps

42 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Opportunity • Negative sentiment around dollar stores creating an attractive entry point • Identified Dollar General’s credit and business model as being superior to its peer Tenant Credit • Public, IG-rated leading discount retailer, with stable and recession-resilient business model Real Estate • Strong diversity within portfolio and highly liquid and fungible assets • Limited site-level competition from other retailers in locations with favorable demographics Criticality • Tenant with historically low store turnover • Aligns strongly with preferred site selection criteria, supporting a high probability of renewal Structure • 14-year remaining term with several baked-in renewal options and periodic fixed increases • All leases guaranteed by the publicly-traded Dollar General corporate entity Share Price Performance Note: Market data (share price performance) per S&P Capital IQ as of September 30, 2026. Investment Case Study: Dollar General Stock has increased more than 50% since WPC’s initial investment Initial investment Original Acquisition / Follow-Ons Closed: November 2024 - March 2025 / follow-ons in late 2025 and 2026 Transaction: $210 million acquisition / additional $41 million since Properties: 110 discount retail stores / total portfolio of 130 stores today Location: 22 states across the U.S. / 23 states today Gross Square Footage: ~1.2 million (11,000 SF per store on avg.) / ~1.4 million today Lease Structure: 14-year NNN leases; periodic fixed increases

43 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Build-to-Suit Case Study: AEG Presents Estimated Project Completion: Q4 2026 / Q1 2027 Maximum Total Commitment: $108 million Properties: Two concert venues Location: Austin, TX and Portland, OR Gross Square Footage: 114,228 Lease Structure: 30-year NNN; fixed annual bumps Opportunity • Partner with experienced developer to complete large-scale build-to-suits for leading entertainment operator Tenant Credit • Second largest live music promoter and operator of live entertainment venues globally Real Estate • State-of-the-art venues that will be the newest and most advanced in their respective markets in infill locations Criticality • AEG investing significant capital in the fit-out of each facility to address a need for modern, mid-sized venues Structure • 30-year initial term at completion with renewal options and annual fixed rent increases • Joint venture structure - WPC owns a 90% interest and development partner owns 10% Outcome • Construction timeline of 18-22 months – Austin facility expected to complete by YE 2026 • WPC has been recognizing rent during construction on its contributed capital • Completed facilities will serve as anchors for large, mixed-use master plan communities

44 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Asset Management Case Study: Warehouse Repositioning New Lease Signed: March 2024 New Investment: $26 million of make-ready work and turnover costs Property: Suburban distribution facility Location: University Park, IL Gross Square Footage: ~1.6 million Lease Structure: 10.5-year NNN; fixed annual bumps Opportunity • Distribution center acquired in 2014 expected to become vacant • Proactively completed significant make-ready work to market the asset Tenant Credit • ~$10Bn+ public company providing third-party logistics and IT services globally Real Estate • Long-lived improvements including roof replacement and LED lighting • Chicago industrial market experiencing strong growth and warehouse demand Criticality • Capital-intensive buildout of dock positions and parking to meet tenant’s distribution needs Structure • 10.5-year lease signed meaningfully above prior in-place rent with annual fixed rent bumps Outcome • Largest market lease in 5+ years – successfully leased the largest warehouse building available in the Chicago market at the time • Minimized downtime – speculatively completed make-ready work including roof replacement, lighting upgrades and dock repair to minimize downtime between leases • Sustainable development – LED retrofits and upgrades help reduce both electricity usage and carbon footprint at the facility

45 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Property: Sonae Corporate Responsibility

46 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 (1) For a building to be considered “green-certified” under our investment criteria, it must at a minimum be certified by LEED, BREEAM or a similarly recognized organization or certification process. LEED —an acronym for Leadership in Energy and Environmental Design —and its related logo are trademarks owned by the U.S. Green Building Council and are used with permission. Learn more at www.usgbc.org/LEED. BREEAM is a registered trademark of BRE (the Building Research Establishment Ltd. Community Trade Mark E5778551). The BREEAM marks, logos and symbols are the Copyright of BRE and are reproduced by permission. (2) Portfolio information reflects pro rata ownership of net lease real estate assets as of September 30, 2026. (3) As a percentage of square footage. A continued commitment to Doing Good While Doing Well® as detailed in our 2025 Corporate Responsibility Report Corporate Responsibility Recent highlights include: Environmental Social Governance 6.4MM square feet of green-certified buildings (1)(2) 42% of portfolio under a green lease (2)(3) • Earned 2026 Great Place to Work Certification in the U.S. (5th year), the Netherlands (3rd year) and the U.K. (1st year) • Named one of Fortune's Best Workplaces in Real Estate and in New York for the 3rd consecutive year, in addition to being named one of the UK's Best Workplaces in Construction, Engineering & Property • Continued to encourage our employees to participate in philanthropic and charitable activities through our CareyForward employee volunteer program • Rated the highest QualityScore rating of “1” from Institutional Shareholder Services (ISS) in Governance • 89% of Board members are independent, with an average tenure of 7 years, and women represent 44% of the Board • Continued our commitment to managing risk, providing transparent disclosure and being accountable to our stakeholders • Advanced energy initiatives across our portfolio, including renewable energy projects, energy efficiency efforts and continued emissions tracking to support long-term reduction goals • Expanded tenant engagement efforts through Carey Tenant Solutions®, our platform for working directly with tenants on build-to-suits, redevelopments and energy solutions Our portfolio:

47 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 The following non-GAAP financial measures are used in this presentation Disclosures Non-GAAP Financial Disclosures In the real estate industry, analysts and investors employ certain non-GAAP supplemental financial measures in order to facilitate meaningful comparisons between periods and among peer companies. Additionally, in the formulation of our goals and evaluation of the effectiveness of our strategies, we use certain non-GAAP measures defined by our management. We have included definitions of certain of these measures below. Our supplemental financial information and our Form 10-K for the year ended December 31, 2025, that we furnished and filed with the SEC on February 10, 2026, and February 11, 2026, respectively, provide additional information on our non-GAAP measures, including reconciliations to the most directly comparable GAAP measures. These materials are not incorporated by reference herein. AFFO Due to certain unique operating characteristics of real estate companies, as discussed below, NAREIT, an industry trade group, has promulgated a non-GAAP measure known as FFO, which we believe to be an appropriate supplemental measure, when used in addition to and in conjunction with results presented in accordance with GAAP, to reflect the operating performance of a REIT. The use of FFO is recommended by the REIT industry as a supplemental non-GAAP measure. FFO is not equivalent to, nor a substitute for, net income or loss as determined under GAAP. We modify the NAREIT computation of FFO to adjust GAAP net income for certain non-cash charges, such as amortization of real estate-related intangibles, deferred income tax benefits and expenses, straight-line rent and related reserves, other non- cash rent adjustments, non-cash allowance for credit losses on loans receivable and finance leases, stock-based compensation, non-cash environmental accretion expense, amortization of discounts and premiums on debt and amortization of deferred financing costs. Our assessment of our operations is focused on long-term sustainability and not on such non-cash items, which may cause short-term fluctuations in net income but have no impact on cash flows. Additionally, we exclude non-core income and expenses, such as gains or losses from extinguishment of debt, gains or losses on the mark-to-market fair value of equity securities, merger and acquisition expenses, spin-off expenses, and income and expenses associated with our captive insurance company. We also exclude realized and unrealized gains/losses on foreign currency exchange rate movements (other than those realized on the settlement of foreign currency derivatives), which are not considered fundamental attributes of our business plan and do not affect our overall long-term operating performance. We refer to our modified definition of FFO as AFFO. We exclude these items from GAAP net income to arrive at AFFO because they are not the primary drivers in our decision-making process and excluding these items provides investors with a view of our portfolio performance over time and makes it more comparable to other REITs. AFFO also reflects adjustments for unconsolidated partnerships and jointly owned investments. We use AFFO as one measure of our operating performance when we formulate corporate goals, evaluate the effectiveness of our strategies and determine executive compensation. We believe that AFFO is a useful supplemental measure for investors to consider because we believe it will help them better assess the sustainability of our operating performance without the potentially distorting impact of these short-term fluctuations. However, there are limits on the usefulness of AFFO to investors. For example, impairment charges and unrealized foreign currency exchange rate losses that we exclude may become actual realized losses upon the ultimate disposition of the properties in the form of lower cash proceeds or other considerations. We use our FFO and AFFO measures as supplemental financial measures of operating performance. We do not use our FFO and AFFO measures as, nor should they be considered to be, alternatives to net income computed under GAAP, alternatives to net cash provided by operating activities computed under GAAP, or indicators of our ability to fund our cash needs. Adjusted EBITDA We believe that EBITDA is a useful supplemental measure to investors and analysts for assessing the performance of our business because (i) it removes the impact of our capital structure from our operating results and (ii) it is helpful when comparing our operating performance to that of companies in our industry without regard to such items, which can vary substantially from company to company. Adjusted EBITDA as disclosed represents EBITDA modified to include other adjustments to GAAP net income for certain non-cash charges, such as impairments, non-cash rent adjustments and unrealized gains and losses from our hedging activity. Additionally, we exclude gains and losses on sale of real estate, which are not considered fundamental attributes of our business plans and do not affect our overall long-term operating performance. We exclude these items from adjusted EBITDA because they are not the primary drivers in our decision-making process. Adjusted EBITDA reflects adjustments for unconsolidated partnerships and jointly owned investments. Adjusted EBITDA is also modified to reflect the pro forma impact of our investment and disposition activity, assuming all activity occurred at the beginning of the applicable period. This includes adjustments to recurring revenue and expenses related to properties acquired or disposed of, and capital investments and commitments completed, during the applicable period. Our assessment of our operations is focused on long- term sustainability and not on such non-cash and non-core items, which may cause short-term fluctuations in net income but have no impact on cash flows. We believe that adjusted EBITDA is a useful supplemental measure and representation of the performance of our business to investors and analysts, although it does not represent net income that is computed in accordance with GAAP. Accordingly, adjusted EBITDA should not be considered an alternative to net income or an indicator of our financial performance. EBITDA and adjusted EBITDA as calculated by us may not be comparable to similarly titled measures of other companies.

48 Hex #003666 Hex #007CBA Hex #80BEDD Hex #809BB3 Hex #CCD7E1 Hex #E7E6E6 Hex #F4F7FA Hex #BFBFBF Hex #7F7F7F Hex #55565A Hex #3F3F3F Hex #CCE5F1 Hex #D2D0E6 Hex #7773B5 1 2 3 7 8 4 9 10 5 6 11 13 14 12 Other Metrics Pro Rata Metrics This presentation contains certain metrics prepared on a pro rata basis. We refer to these metrics as pro rata metrics. We have certain investments in which our economic ownership is less than 100%. On a full consolidation basis, we report 100% of the assets, liabilities, revenues and expenses of those investments that are deemed to be under our control or for which we are deemed to be the primary beneficiary, even if our ownership is less than 100%. Also, for all other jointly owned investments, which we do not control, we report our net investment and our net income or loss from that investment. On a pro rata basis, we generally present our proportionate share, based on our economic ownership of these jointly owned investments, of the assets, liabilities, revenues and expenses of those investments. Multiplying each of our jointly owned investments’ financial statement line items by our percentage ownership and adding or subtracting those amounts from our totals, as applicable, may not accurately depict the legal and economic implications of holding an ownership interest of less than 100% in our jointly owned investments. ABR ABR represents contractual minimum annualized base rent for our net-leased properties and reflects exchange rates as of September 30, 2026. If there is a rent abatement, we annualize the first monthly contractual base rent following the free rent period. ABR is not applicable to operating properties and is presented on a pro rata basis. Contractual Same-Store Rent Growth Same-store portfolio includes leases on our net leased properties that were continuously in place during a twelve-month period (from September 30, 2025 to September 30, 2026 for the current quarter). Excludes leases for properties that were acquired, sold or vacated, or were subject to lease renewals, extensions or modifications at any time that affected ABR during that period. For purposes of comparability, ABR is presented on a constant currency basis using exchange rates as of the last day of the period (September 30, 2026 for the current quarter). Net Debt / Net Debt – Inclusive of Unsettled Forward Equity Represents total pro rata debt outstanding (excluding unamortized discount and unamortized deferred financing costs) less consolidated cash and cash equivalents. Net debt – inclusive of unsettled forward equity reflects the impact of (i) shares of unsettled forward equity, as if they had been settled for cash and (ii) shares of unsettled “at-the-market” forward equity as of September 30, 2026, as if they had been settled for cash. Disclosures (cont’d)

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