W. P. Carey (NYSE: WPC) raises 2026 AFFO guidance after Q2 2026 earnings

Q: What were W. P. Carey (WPC)'s key financial results for Q2 2026?

W. P. Carey reported Q2 2026 revenues of $461.1 million , net income attributable of $185.4 million and diluted EPS of $0.82 . AFFO was $305.4 million , or $1.34 per diluted share , based on 227,215,203 diluted weighted‑average shares.

Q: How did WPC's Q2 2026 results compare with Q2 2025?

Revenues rose 7.0% to $461.1 million from $430.8 million. Net income attributable increased 262.1% to $185.4 million from $51.2 million, and AFFO per diluted share grew 4.7% to $1.34 from $1.28, reflecting accretive net investment activity and other items.

Q: What dividend did WPC declare for Q2 2026 and what is the payout ratio?

W. P. Carey declared a Q2 2026 cash dividend of $0.940 per share , equivalent to an annualized rate of $3.76 . The dividend payout ratio for the six months ended June 30, 2026 was 70.6% of AFFO per diluted share, with an annualized dividend yield of 5.3% at $71.50.

Q: What were WPC's investment and disposition volumes in the first half of 2026?

Year‑to‑date investment volume totaled $1.3 billion , including $706.5 million completed in Q2 2026. Gross disposition proceeds were $246.2 million for the first half, including $83.7 million during the second quarter, alongside capital investments and commitments of $132.7 million scheduled for completion in 2026.

Q: How strong is W. P. Carey (WPC)'s balance sheet and leverage profile?

At June 30, 2026, equity market capitalization was $16.29 billion , net debt was $8.79 billion , and enterprise value was $25.08 billion . Net debt to adjusted EBITDA was 5.5x (or 5.1x including unsettled forward equity), with liquidity of $2.74 billion and investment‑grade issuer ratings of Baa1/BBB+.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

W. P. Carey Inc. reported second quarter 2026 revenues of $461.1 million, net income attributable of $185.4 million and diluted EPS of $0.82. Adjusted funds from operations (AFFO) were $305.4 million, or $1.34 per diluted share, up 4.7% from $1.28 a year earlier.

The company raised and narrowed its 2026 AFFO guidance to $5.19–$5.27 per diluted share, implying 5.2% year-over-year growth at the midpoint, and increased its full‑year investment volume assumption to between $1.7 billion and $2.1 billion. Year‑to‑date investment volume reached $1.3 billion, including $706.5 million in the quarter, while dispositions totaled $246.2 million for the first half.

The quarterly cash dividend was $0.940 per share, or $3.76 annualized, representing a 70.6% dividend payout ratio for the six months ended June 30, 2026 and a 5.3% yield at a $71.50 share price. Occupancy on the net‑lease portfolio was 98.5% with a 12.2‑year weighted‑average lease term and contractual same‑store rent growth of 2.6%. Net debt was $8.8 billion, net debt to adjusted EBITDA was 5.5x (5.1x including unsettled forward equity), and total ABR was $1.64 billion.

Positive

Raised 2026 AFFO guidance to $5.19–$5.27 per diluted share.

Negative

None.

Filing Explained

The disclosed common-share sale can dilute existing holders, while the $350 million bond refinancing changes maturity without stated principal reduction.

A Form 8-K reports specified material events, and this filing reports capital-markets actions that were partly completed and partly scheduled. The company sold 5.3 million shares under forward sale agreements, while a $350 million debt refinancing was issued after quarter-end and was scheduled to replace notes due in October 2026 with notes due in 2036.

The common-share sale adds an ownership-dilution mechanism for existing holders: issuing additional shares increases the total share count and reduces an existing holder’s percentage ownership absent offsetting changes. The filing also reports $690.7 million of expected net proceeds and approximately $691 million of equity remaining available for settlement, which is capacity tied to future settlement rather than proceeds already received.

Of that unsettled forward equity, 8,964,031 shares are described as at-the-market forward equity, an arrangement for gradual open-market sales at prevailing prices. The company also reports $132.7 million of active capital investments and commitments scheduled for completion during the second half of 2026; the filing labels this a maximum commitment, not a stated cash outlay.

The next specified milestone is the scheduled July 29, 2026 prepayment of the $350 million of 4.250% notes due October 1, 2026, with no associated prepayment costs disclosed.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

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

Item 7.01 Regulation FD Disclosure Disclosure

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

Item 9.01 Financial Statements and Exhibits Exhibits

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

Key Figures

Revenue Q2 2026: $461.1 million Net income attributable Q2 2026: $185.4 million AFFO per diluted share Q2 2026: $1.34 +5 more

8 metrics

Revenue Q2 2026 $461.1 million Revenues, including reimbursable costs, for the 2026 second quarter; up 7.0% from $430.8 million in Q2 2025

Net income attributable Q2 2026 $185.4 million Net income attributable to W. P. Carey for the 2026 second quarter; up 262.1% from $51.2 million in Q2 2025

AFFO per diluted share Q2 2026 $1.34 AFFO per diluted share for the 2026 second quarter; up 4.7% from $1.28 in Q2 2025

2026 AFFO guidance $5.19–$5.27 per diluted share Raised and narrowed full‑year 2026 AFFO guidance range; midpoint implies 5.2% year‑over‑year growth

Quarterly dividend Q2 2026 $0.940 per share Second quarter cash dividend; annualized dividend rate $3.760 per share and 70.6% payout ratio for six months ended June 30, 2026

Investment volume Q2 2026 $706.5 million Investment volume completed during the second quarter; year‑to‑date investment volume $1.3 billion

Net debt to adjusted EBITDA 5.5x Net debt to adjusted EBITDA (annualized) as of June 30, 2026; 5.1x inclusive of unsettled forward equity

Total portfolio ABR $1,642,915 ($000s) Total portfolio annualized base rent (ABR) on a pro rata basis as of June 30, 2026

Key Terms

Adjusted funds from operations (AFFO), normalized pro rata cash NOI, forward sale agreements, senior unsecured notes, +2 more

6 terms

Adjusted funds from operations (AFFO) financial

"AFFO for the 2026 second quarter was $1.34 per diluted share, up 4.7%"

Adjusted funds from operations (AFFO) is a cash-based measure used mainly for real estate companies that starts with net income and removes accounting items plus recurring maintenance costs to show the cash a property business actually generates for owners. Think of it like a household budget: after counting your income, AFFO subtracts routine upkeep and tenant turnover bills so investors can see the money likely available for dividends or reinvestment. It matters because it gives a clearer picture of sustainable cash flow than raw accounting profit.

normalized pro rata cash NOI financial

"Normalized pro rata cash NOI ($000s) (a) (b) ... 404,064"

forward sale agreements financial

"Sold 5.3 million shares of common stock subject to forward sale agreements"

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.

senior unsecured notes financial

"issued $350 million of 5.200% Senior Unsecured Notes due 2036"

Senior unsecured notes are a type of loan a company borrows from investors, promising to pay back with interest. They are called "unsecured" because they aren’t backed by specific assets like buildings or equipment, but "senior" because they are paid back before other debts if the company gets into trouble. Investors see them as a relatively safer way for companies to raise money.

contractual same-store growth financial

"Contractual same-store growth (k) ... total increase of 2.6%"

net lease real estate investment trust financial

"a net lease real estate investment trust, today reported its financial results"

A net lease real estate investment trust (REIT) is a company that owns and manages properties, such as retail stores, office buildings, or warehouses, which are leased out to tenants under agreements where the tenants pay most or all of the property's expenses, like taxes and maintenance. For investors, it offers a way to earn regular income from real estate investments with less direct involvement, as the lease structure reduces the REIT’s ongoing management costs and risks.

Earnings Snapshot

Revenue: $461.1 million · Guidance included

quarter ended June 30, 2026

Revenue $461.1 million up 7.0% from $430.8 million in the 2025 second quarter

Net income attributable to W. P. Carey $185.4 million up 262.1% from $51.2 million in the 2025 second quarter

AFFO per diluted share $1.34 up 4.7% from $1.28 per diluted share in the 2025 second quarter

Diluted earnings per share $0.82 compared with $0.23 per diluted share in the 2025 second quarter

Guidance

For full-year 2026, W. P. Carey raised and narrowed its AFFO guidance range to $5.19–$5.27 per diluted share, implying 5.2% year-over-year growth at the midpoint, and increased its full-year investment volume assumption to between $1.7 billion and $2.1 billion.

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Understanding 8-K Material Events →

Available on EDGAR 07/28/2026 - 04:09 PM Accepted by SEC EDGAR 07/28/2026 - 04:08 PM

FAQ

What were W. P. Carey (WPC)'s key financial results for Q2 2026?

W. P. Carey reported Q2 2026 revenues of $461.1 million, net income attributable of $185.4 million and diluted EPS of $0.82. AFFO was $305.4 million, or $1.34 per diluted share, based on 227,215,203 diluted weighted‑average shares.

How did WPC's Q2 2026 results compare with Q2 2025?

Revenues rose 7.0% to $461.1 million from $430.8 million. Net income attributable increased 262.1% to $185.4 million from $51.2 million, and AFFO per diluted share grew 4.7% to $1.34 from $1.28, reflecting accretive net investment activity and other items.

What 2026 AFFO guidance did W. P. Carey (WPC) provide?

The company raised and narrowed 2026 AFFO guidance to between $5.19 and $5.27 per diluted share, which implies 5.2% year‑over‑year growth at the midpoint. It also increased its full‑year investment volume assumption to between $1.7 billion and $2.1 billion.

What dividend did WPC declare for Q2 2026 and what is the payout ratio?

W. P. Carey declared a Q2 2026 cash dividend of $0.940 per share, equivalent to an annualized rate of $3.76. The dividend payout ratio for the six months ended June 30, 2026 was 70.6% of AFFO per diluted share, with an annualized dividend yield of 5.3% at $71.50.

What were WPC's investment and disposition volumes in the first half of 2026?

Year‑to‑date investment volume totaled $1.3 billion, including $706.5 million completed in Q2 2026. Gross disposition proceeds were $246.2 million for the first half, including $83.7 million during the second quarter, alongside capital investments and commitments of $132.7 million scheduled for completion in 2026.

How strong is W. P. Carey (WPC)'s balance sheet and leverage profile?

At June 30, 2026, equity market capitalization was $16.29 billion, net debt was $8.79 billion, and enterprise value was $25.08 billion. Net debt to adjusted EBITDA was 5.5x (or 5.1x including unsettled forward equity), with liquidity of $2.74 billion and investment‑grade issuer ratings of Baa1/BBB+.

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): July 28, 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 July 28, 2026, W. P. Carey Inc. (the “Company”) issued an earnings release announcing its financial results for the quarter ended June 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 July 28, 2026, the Company made available certain unaudited supplemental financial information at June 30, 2026. A copy of this supplemental information is attached as Exhibit 99.2.

On July 28, 2026, the Company posted its second 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 June 30, 2026.

99.2						Supplemental financial information of the Company at June 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:	July 28, 2026	By:	/s/ ToniAnn Sanzone
			ToniAnn Sanzone
			Chief Financial Officer

Exhibit 99.1

W. P. Carey Announces Second Quarter 2026 Financial Results

New York, NY – July 28, 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 second quarter ended June 30, 2026.

Financial Highlights


			2026 Second Quarter
Net income attributable to W. P. Carey (millions)			$185.4
Diluted earnings per share			$0.82

AFFO (millions)			$305.4
AFFO per diluted share			$1.34

•Raising and narrowing 2026 AFFO guidance range to between $5.19 and $5.27 per diluted share, implying 5.2% year-over-year growth at the midpoint

•Full-year investment volume assumption raised to between $1.7 billion and $2.1 billion

•Second quarter cash dividend of $0.940 per share, equivalent to an annualized dividend rate of $3.76 per share

Real Estate Portfolio

•Investment volume of $1.3 billion completed year to date, including $706.5 million during the second quarter

•Active capital investments and commitments of $132.7 million scheduled to be completed during the second half of 2026

•Gross disposition proceeds of $246.2 million during the first half of 2026, including $83.7 million during the second quarter

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

Balance Sheet and Capitalization

•Equity –

◦Sold 5.3 million shares of common stock subject to forward sale agreements during the second quarter, representing total gross proceeds of approximately $392 million

◦Settled a portion of outstanding forward sale agreements during the second quarter for net proceeds totaling approximately $345 million

◦At the end of the second quarter approximately $691 million of equity subject to forward sale agreements remained available for settlement

•Debt –

◦Subsequent to quarter end, issued $350 million of 5.200% Senior Unsecured Notes due 2036, with proceeds scheduled to be used to prepay $350 million of 4.250% Senior Unsecured Notes due October 2026

W. P. Carey Inc. 6/30/2026 Earnings Release 8-K – 1

MANAGEMENT COMMENTARY

“The momentum we established last year continued through the first half of 2026, with a strong pace of investment activity and successful capital markets execution,” said Jason Fox, Chief Executive Officer. “We continue to see compelling acquisition opportunities at attractive spreads and with our anticipated investment activity pre-funded well into 2027, we have ample capacity to continue investing.

“Our outlook for potential rent loss has also improved and we expect to increasingly benefit from inflationary tailwinds flowing through our CPI-linked leases. Reflecting our performance to date and outlook for the remainder of the year, I'm pleased to say we're again raising our expectations for both full-year investment volume and AFFO per share, with AFFO growth now above 5% at the midpoint.”

QUARTERLY FINANCIAL RESULTS

Revenues

•Revenues, including reimbursable costs, for the 2026 second quarter totaled $461.1 million, up 7.0% from $430.8 million for the 2025 second quarter.

◦Lease revenues increased due primarily to net investment activity.

◦Income from finance leases and loans receivable increased primarily as a result of 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 second quarter was $185.4 million, up 262.1% from $51.2 million for the 2025 second quarter, due primarily to a mark-to-market gain of $41.6 million recognized on the Company’s shares of Lineage during the current-year period (as compared to a loss of $69.0 million recognized during the prior-year period), higher gains from remeasurement of foreign debt, the Company’s $49.9 million proportionate share of a gain on sale recognized by a jointly-owned investment during the current-year period, and the accretive impact of net investment activity, partly offset by higher impairment charges and lower gain on sale of real estate.

Adjusted Funds from Operations (AFFO)

•AFFO for the 2026 second quarter was $1.34 per diluted share, up 4.7% from $1.28 per diluted share for the 2025 second quarter, primarily reflecting accretive net investment activity, partly offset by the impact of higher interest rates from debt refinancings on interest expense and 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 June 11, 2026, the Company reported that its Board of Directors increased its quarterly cash dividend to $0.940 per share, equivalent to an annualized dividend rate of $3.76 per share, representing a 4.4% increase compared to the 2025 second quarter. The dividend was paid on July 15, 2026 to shareholders of record as of June 30, 2026.

W. P. Carey Inc. 6/30/2026 Earnings Release 8-K – 2

AFFO GUIDANCE

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


	Prior 2026 Guidance	Updated 2026 Guidance
AFFO per diluted share	$5.16 – $5.26	$5.19 – $5.27
Investment volume	$1.5 – $2.0 billion	$1.7 – $2.1 billion
Disposition volume	$250 – $750 million	$350 – $550 million
General and administrative expenses	$103 – $106 million	$103 – $106 million
Property expenses, excluding reimbursable tenant costs	$56 – $60 million	$54 – $58 million
Tax expense (on an AFFO basis)	$45 – $49 million	$43 – $47 million

•The Company has raised and narrowed its AFFO per diluted share guidance range for the 2026 full year, primarily reflecting higher expected lease revenues (including the impacts of higher anticipated investment volume and a more favorable outlook for potential rent loss), together with certain lower projected expenses, partly offset by the impact of settling forward equity.

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 $1.3 billion, including $706.5 million during the 2026 second quarter.

•The Company currently has five capital investments and commitments totaling $132.7 million scheduled to be completed during the second half of 2026. In addition, the Company has five capital investments and commitments totaling $165.9 million scheduled to be completed over the course of 2027.

Dispositions

•During the first half of 2026, the Company disposed of 28 properties for gross proceeds totaling $246.2 million, including nine properties during the 2026 second quarter for gross proceeds totaling $83.7 million.

Contractual Same-Store Rent Growth

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

Composition

•As of June 30, 2026, the Company’s net lease portfolio consisted of 1,748 properties, comprising 188 million square feet leased to 384 tenants, with a weighted-average lease term of 12.2 years and an occupancy rate of 98.5%.

W. P. Carey Inc. 6/30/2026 Earnings Release 8-K – 3

BALANCE SHEET AND CAPITALIZATION

Liquidity

•As of June 30, 2026, the Company had total liquidity of $2.7 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 second quarter, the Company sold 5,271,817 shares of common stock under its ATM program pursuant to forward sale agreements at a weighted-average gross price of $74.32 per share, representing total gross proceeds of approximately $392 million.

•During the 2026 second quarter, the Company settled a portion of its outstanding forward sale agreements, issuing 5,066,282 shares of common stock for net proceeds of approximately $345 million.

•As of June 30, 2026, the Company had a total of 9,914,031 shares available for settlement under forward sale agreements, representing anticipated net proceeds totaling approximately $691 million.

Senior Unsecured Notes – Subsequent to Quarter End

•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 is scheduled to use 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 second 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 July 28, 2026, and made available on the Company’s website at ir.wpcarey.com/investor-relations.

* * * * *

Live Conference Call and Audio Webcast Scheduled for Wednesday, July 29, 2026 at 11:00 a.m. Eastern Time

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

Date/Time: Wednesday, July 29, 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. 6/30/2026 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 1,748 net lease properties covering approximately 188 million square feet as of June 30, 2026. With offices in New York, London, Amsterdam and Dallas, 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 future acquisition opportunities, outlook for potential rent loss, anticipated benefits from CPI-linked rent escalations and expectations for both full-year 2026 investment volume and AFFO per share. 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:

Amanda Woodward

1 (212) 492-1171

awoodward@wpcarey.com

* * * * *

W. P. Carey Inc. 6/30/2026 Earnings Release 8-K – 5

W. P. CAREY INC.

Consolidated Balance Sheets (Unaudited)

(in thousands, except share and per share amounts)



	June 30, 2026		December 31, 2025
Assets
Investments in real estate:
Land, buildings and improvements — net lease and other	$	15,222,867	$	14,451,306
Land, buildings and improvements — operating properties	181,694		286,079
Net investments in finance leases and loans receivable	1,174,274		1,171,886
In-place lease intangible assets and other	2,581,342		2,466,199
Above-market rent intangible assets	653,281		668,707
Investments in real estate	19,813,458		19,044,177
Accumulated depreciation and amortization (a)	(3,656,944)		(3,578,330)
Assets held for sale, net	10,441		3,327
Net investments in real estate	16,166,955		15,469,174
Equity method investments	279,503		310,178
Cash and cash equivalents	163,538		155,329
Other assets, net	1,042,026		1,068,480
Goodwill	982,611		987,071
Total assets	$	18,634,633	$	17,990,232

Liabilities and Equity
Debt:
Senior unsecured notes, net	$	7,376,851	$	6,950,261
Unsecured term loans, net	1,164,524		1,196,366
Unsecured revolving credit facility	116,230		435,417
Non-recourse mortgages, net	194,246		140,646
Debt, net	8,851,851		8,722,690
Accounts payable, accrued expenses and other liabilities	621,068		670,038
Below-market rent and other intangible liabilities, net	97,192		104,055
Deferred income taxes	157,117		151,820
Dividends payable	218,789		207,487
Total liabilities	9,946,017		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; 227,807,251 and 219,145,876 shares, respectively, issued and outstanding	228		219
Additional paid-in capital	12,418,948		11,830,737
Distributions in excess of accumulated earnings	(3,605,214)		(3,539,592)
Deferred compensation obligation	100,172		80,239
Accumulated other comprehensive loss	(241,737)		(253,346)
Total stockholders’ equity	8,672,397		8,118,257
Noncontrolling interests	16,219		15,885
Total equity	8,688,616		8,134,142
Total liabilities and equity	$	18,634,633	$	17,990,232

________

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

W. P. Carey Inc. 6/30/2026 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
	June 30, 2026		March 31, 2026		June 30, 2025
Revenues
Real Estate:
Lease revenues	$	409,661	$	402,831	$	364,195
Income from finance leases and loans receivable	27,162		27,686		20,276
Operating property revenues	11,638		12,050		34,287
Other lease-related income	11,209		10,452		9,643
	459,670		453,019		428,401
Investment Management:
Other advisory income and reimbursements	1,000		1,000		1,072
Asset management revenue	394		490		1,304
	1,394		1,490		2,376
	461,064		454,509		430,777
Operating Expenses
Depreciation and amortization	134,378		136,183		120,595
Impairment charges — real estate	79,421		40,008		4,349
General and administrative	25,934		27,348		24,150
Reimbursable tenant costs	19,472		19,692		17,718
Property expenses, excluding reimbursable tenant costs	15,206		14,552		13,623
Stock-based compensation expense	13,909		7,441		10,943
Operating property expenses	8,603		8,694		16,721
Merger and other expenses	613		1,180		192
	297,536		255,098		208,291
Other Income and Expenses
Interest expense	(78,979)		(78,460)		(71,795)
Earnings from equity method investments (a)	55,579		4,543		6,161
Other gains and (losses) (b)	48,558		6,791		(148,768)
Gain on sale of real estate, net	5,819		54,141		52,824
Non-operating income (c)	4,245		4,704		3,495
	35,222		(8,281)		(158,083)
Income before income taxes	198,750		191,130		64,403
Provision for income taxes	(13,091)		(14,634)		(13,091)
Net Income	185,659		176,496		51,312
Net income attributable to noncontrolling interests	(270)		(194)		(92)
Net Income Attributable to W. P. Carey	$	185,389	$	176,302	$	51,220

Basic Earnings Per Share	$	0.82	$	0.80	$	0.23
Diluted Earnings Per Share	$	0.82	$	0.80	$	0.23
Weighted-Average Shares Outstanding
Basic	225,971,719		220,620,496		220,569,259
Diluted	227,215,203		221,618,296		220,874,935

Dividends Declared Per Share	$	0.940	$	0.930	$	0.900

__________

(a)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.

(b)Amount for the three months ended June 30, 2026 primarily comprises a mark-to-market unrealized gain for our investment in shares of Lineage of $41.6 million, net gains on foreign currency exchange rate movements of $10.8 million and a non-cash allowance for credit losses of $6.4 million.

(c)Amount for the three months ended June 30, 2026 comprises a dividend of $2.9 million from our investment in shares of Lineage, interest income on deposits of $0.8 million and realized gains on foreign currency exchange derivatives of $0.5 million.

W. P. Carey Inc. 6/30/2026 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)


	Six Months Ended June 30,
	2026		2025
Revenues
Real Estate:
Lease revenues	$	812,492	$	717,963
Income from finance leases and loans receivable	54,848		37,734
Operating property revenues	23,688		67,381
Other lease-related income	21,661		12,764
	912,689		835,842
Investment Management:
Other advisory income and reimbursements	2,000		2,139
Asset management and other revenue	884		2,654
	2,884		4,793
	915,573		840,635
Operating Expenses
Depreciation and amortization	270,561		250,202
Impairment charges — real estate	119,429		11,203
General and administrative	53,282		51,117
Reimbursable tenant costs	39,164		34,810
Property expenses, excluding reimbursable tenant costs	29,758		25,329
Stock-based compensation expense	21,350		20,091
Operating property expenses	17,297		33,265
Merger and other expenses	1,793		748
	552,634		426,765
Other Income and Expenses
Interest expense	(157,439)		(140,599)
Earnings from equity method investments	60,122		11,539
Gain on sale of real estate, net	59,960		96,601
Other gains and (losses)	55,349		(190,965)
Non-operating income	8,949		11,405
	26,941		(212,019)
Income before income taxes	389,880		201,851
Provision for income taxes	(27,725)		(24,723)
Net Income	362,155		177,128
Net income attributable to noncontrolling interests	(464)		(84)
Net Income Attributable to W. P. Carey	$	361,691	$	177,044

Basic Earnings Per Share	$	1.62	$	0.80
Diluted Earnings Per Share	$	1.61	$	0.80
Weighted-Average Shares Outstanding
Basic	223,310,890		220,485,859
Diluted	224,609,380		220,913,225

Dividends Declared Per Share	$	1.870	$	1.790

W. P. Carey Inc. 6/30/2026 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
	June 30, 2026		March 31, 2026		June 30, 2025
Net income attributable to W. P. Carey	$	185,389	$	176,302	$	51,220
Adjustments:
Depreciation and amortization of real property	133,663		135,480		119,930
Impairment charges — real estate	79,421		40,008		4,349
Gain on sale of real estate, net	(5,819)		(54,141)		(52,824)
Proportionate share of adjustments to earnings from equity method investments (a) (b)	(50,133)		2,263		2,231
Proportionate share of adjustments for noncontrolling interests (c)	(26)		(25)		(82)
Total adjustments	157,106		123,585		73,604
FFO (as defined by NAREIT) Attributable to W. P. Carey (d)	342,495		299,887		124,824
Adjustments:
Other (gains) and losses (e)	(48,558)		(6,791)		148,768
Straight-line and other leasing and financing adjustments	(15,459)		(24,178)		(15,374)
Stock-based compensation	13,909		7,441		10,943
Amortization of deferred financing costs	5,292		5,139		4,628
Above- and below-market rent intangible lease amortization, net	3,706		2,498		5,061
Tax expense – deferred and other	2,617		2,727		2,820
Merger and other expenses	613		1,180		192
Other amortization and non-cash items	548		593		579
Proportionate share of adjustments to earnings from equity method investments (a)	303		213		309
Proportionate share of adjustments for noncontrolling interests (b)	(22)		(52)		(80)
Total adjustments	(37,051)		(11,230)		157,846
AFFO Attributable to W. P. Carey (d)	$	305,444	$	288,657	$	282,670

Summary
FFO (as defined by NAREIT) attributable to W. P. Carey (d)	$	342,495	$	299,887	$	124,824
FFO (as defined by NAREIT) attributable to W. P. Carey per diluted share (d)	$	1.51	$	1.35	$	0.57
AFFO attributable to W. P. Carey (d)	$	305,444	$	288,657	$	282,670
AFFO attributable to W. P. Carey per diluted share (d)	$	1.34	$	1.30	$	1.28
Diluted weighted-average shares outstanding	227,215,203		221,618,296		220,874,935

W. P. Carey Inc. 6/30/2026 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)


	Six Months Ended June 30,
	2026		2025
Net income attributable to W. P. Carey	$	361,691	$	177,044
Adjustments:
Depreciation and amortization of real property	269,143		248,867
Impairment charges — real estate	119,429		11,203
Gain on sale of real estate, net	(59,960)		(96,601)
Proportionate share of adjustments to earnings from equity method investments (a)	(47,870)		3,874
Proportionate share of adjustments for noncontrolling interests (c)	(51)		(160)
Total adjustments	280,691		167,183
FFO (as defined by NAREIT) Attributable to W. P. Carey (d)	642,382		344,227
Adjustments:
Other (gains) and losses	(55,349)		190,965
Straight-line and other leasing and financing adjustments	(39,637)		(34,407)
Stock-based compensation	21,350		20,091
Amortization of deferred financing costs	10,431		9,410
Above- and below-market rent intangible lease amortization, net	6,204		6,184
Tax expense – deferred and other	5,344		2,038
Merger and other expenses	1,793		748
Other amortization and non-cash items	1,141		1,139
Proportionate share of adjustments to earnings from equity method investments (a)	516		223
Proportionate share of adjustments for noncontrolling interests (b)	(74)		(128)
Total adjustments	(48,281)		196,263
AFFO Attributable to W. P. Carey (d)	$	594,101	$	540,490

Summary
FFO (as defined by NAREIT) attributable to W. P. Carey (d)	$	642,382	$	344,227
FFO (as defined by NAREIT) attributable to W. P. Carey per diluted share (d)	$	2.86	$	1.56
AFFO attributable to W. P. Carey (d)	$	594,101	$	540,490
AFFO attributable to W. P. Carey per diluted share (d)	$	2.65	$	2.45
Diluted weighted-average shares outstanding	224,609,380		220,913,225

__________

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

(e)Amount for the three months ended June 30, 2026 primarily comprises a mark-to-market unrealized gain for our investment in shares of Lineage of $41.6 million, net gains on foreign currency exchange rate movements of $10.8 million and a non-cash allowance for credit losses of $6.4 million.

W. P. Carey Inc. 6/30/2026 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. 6/30/2026 Earnings Release 8-K – 11

Exhibit 99.2

W. P. Carey Inc.

Supplemental Information

Second 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 – Second 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 – Second Quarter 2026


Summary Metrics

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


Financial Results
Revenues, including reimbursable costs – consolidated ($000s)	$	461,064
Net income attributable to W. P. Carey ($000s)	185,389
Net income attributable to W. P. Carey per diluted share	0.82
Normalized pro rata cash NOI ($000s) (a) (b)	404,064
Adjusted EBITDA ($000s) (a) (b)	397,544
AFFO attributable to W. P. Carey ($000s) (a) (b)	305,444
AFFO attributable to W. P. Carey per diluted share (a) (b)	1.34

Dividends declared per share – current quarter	0.940
Dividends declared per share – current quarter annualized	3.760
Dividend yield – annualized, based on quarter end share price of $71.50	5.3		%
Dividend payout ratio – for the six months ended June 30, 2026 (c)	70.6		%

Balance Sheet and Capitalization
Equity market capitalization – based on quarter end share price of $71.50 ($000s)	$	16,288,218
Net debt ($000s) (d)	8,791,374
Enterprise value ($000s)	25,079,592

Total consolidated debt ($000s)	8,851,851
Gross assets ($000s) (e)	20,785,367
Liquidity ($000s) (f)	2,735,877

Net debt to enterprise value (b)	35.1		%
Net debt to adjusted EBITDA (annualized) (a) (b)	5.5x
Net debt to adjusted EBITDA (annualized) – inclusive of unsettled forward equity (a) (b) (g)	5.1x
Total consolidated debt to gross assets	42.6		%
Total consolidated secured debt to gross assets	0.9		%


Weighted-average interest rate – for the three months ended June 30, 2026 (b)	3.2		%
Weighted-average interest rate – as of June 30, 2026 (b)	3.2		%
Weighted-average debt maturity (years) (b)	4.5

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)	$	1,642,915

Number of net-leased properties	1,748
Number of operating properties (i)	5
Number of tenants – net-leased properties	384

ABR from top ten tenants as a % of total ABR – net-leased properties	18.1		%
ABR from investment grade tenants as a % of total ABR – net-leased properties (j)	22.7		%
Contractual same-store growth (k)	2.6		%

Net-leased properties – square footage (millions)	188.5

Occupancy – net-leased properties	98.5		%
Weighted-average lease term (years)	12.2

Investment volume – current quarter ($000s)	$	706,463
Dispositions – current quarter ($000s)	83,651

Maximum commitment for capital investments and commitments expected to be completed during 2026 ($000s)	132,694

________


						Investing for the Long Run® \| 1

W. P. Carey Inc.

Overview – Second 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 $500.5 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 9,914,031 remaining shares and total expected net proceeds of $690.7 million as of June 30, 2026, which will be updated at each quarter end).

(g)Reflects the impact of 9,914,031 shares of unsettled forward equity, as if they had been settled for cash, for total expected net proceeds of $690.7 million as of June 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 June 30, 2026. Includes tenants or guarantors with investment grade ratings (16.3%) and subsidiaries of non-guarantor parent companies with investment grade ratings (6.4%). 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 – Second Quarter 2026


Components of Net Asset Value

In thousands.


Normalized Pro Rata Cash NOI (a) (b)	Three Months Ended Jun. 30, 2026
Net lease properties	$	401,029
Operating properties (c)	3,035
Total normalized pro rata cash NOI (a) (b)	$	404,064

Balance Sheet – Selected Information (Consolidated Unless Otherwise Stated)	As of Jun. 30, 2026
Assets
Book value of real estate excluded from normalized pro rata cash NOI (d)	$	154,075
Cash and cash equivalents	163,538
Las Vegas retail complex construction loan (e)	245,884
Other secured loans receivable, net	38,922
Other assets, net:
Straight-line rent adjustments	$	501,172
Investment in shares of Lineage (a cold storage REIT) (f)	198,800
Deferred charges	73,400
Non-rent tenant and other receivables	62,546
Office lease right-of-use assets, net	45,845
Taxes receivable	39,345
Restricted cash, including escrow	32,334
Deferred income taxes	26,599
Prepaid expenses	24,547
Leasehold improvements, furniture and fixtures	10,217
Securities and derivatives	8,375
Rent receivables	7,376
Due from affiliates	679
Other	10,791
Total other assets, net	$	1,042,026

Liabilities
Total pro rata debt outstanding (b) (g)	$	8,954,912
Dividends payable	218,789
Deferred income taxes	157,117
Accounts payable, accrued expenses and other liabilities:
Accounts payable and accrued expenses	$	198,419
Prepaid and deferred rents	156,149
Operating lease liabilities	132,692
Tenant security deposits	46,171
Accrued taxes payable	41,456
Securities and derivatives	5,681
Other	40,500
Total accounts payable, accrued expenses and other liabilities	$	621,068

________

(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 $46.6 million and unamortized deferred financing costs totaling $35.1 million as of June 30, 2026.


						Investing for the Long Run® \| 3

W. P. Carey Inc.

Financial Results

Second Quarter 2026


						Investing for the Long Run® \| 4

W. P. Carey Inc.

Financial Results – Second Quarter 2026


Consolidated Statements of Income – Last Five Quarters

In thousands, except share and per share amounts.


	Three Months Ended
	Jun. 30, 2026		Mar. 31, 2026		Dec. 31, 2025		Sep. 30, 2025		Jun. 30, 2025
Revenues
Real Estate:
Lease revenues	$	409,661	$	402,831	$	389,154	$	372,087	$	364,195
Income from finance leases and loans receivable	27,162		27,686		26,716		26,498		20,276
Operating property revenues	11,638		12,050		18,379		26,771		34,287
Other lease-related income	11,209		10,452		8,137		3,660		9,643
	459,670		453,019		442,386		429,016		428,401
Investment Management:
Other advisory income and reimbursements	1,000		1,000		1,076		1,069		1,072
Asset management revenue	394		490		1,085		1,218		1,304
	1,394		1,490		2,161		2,287		2,376
	461,064		454,509		444,547		431,303		430,777
Operating Expenses
Depreciation and amortization	134,378		136,183		145,339		125,586		120,595
Impairment charges — real estate	79,421		40,008		39,690		19,474		4,349
General and administrative	25,934		27,348		25,899		23,656		24,150
Reimbursable tenant costs	19,472		19,692		19,371		14,562		17,718
Property expenses, excluding reimbursable tenant costs	15,206		14,552		13,859		14,637		13,623
Stock-based compensation expense	13,909		7,441		8,650		11,153		10,943
Operating property expenses	8,603		8,694		11,863		15,049		16,721
Merger and other expenses	613		1,180		478		1,021		192
	297,536		255,098		265,149		225,138		208,291
Other Income and Expenses
Interest expense	(78,979)		(78,460)		(75,431)		(75,226)		(71,795)
Earnings from equity method investments (a)	55,579		4,543		4,109		2,361		6,161
Other gains and (losses) (b)	48,558		6,791		(10,131)		(31,011)		(148,768)
Gain on sale of real estate, net	5,819		54,141		52,791		44,401		52,824
Non-operating income (c)	4,245		4,704		2,516		3,030		3,495
	35,222		(8,281)		(26,146)		(56,445)		(158,083)
Income before income taxes	198,750		191,130		153,252		149,720		64,403
(Provision for) benefit from income taxes	(13,091)		(14,634)		1,310		(8,495)		(13,091)
Net Income	185,659		176,496		154,562		141,225		51,312
Net income attributable to noncontrolling interests (d)	(270)		(194)		(6,243)		(229)		(92)
Net Income Attributable to W. P. Carey	$	185,389	$	176,302	$	148,319	$	140,996	$	51,220

Basic Earnings Per Share	$	0.82	$	0.80	$	0.67	$	0.64	$	0.23
Diluted Earnings Per Share	$	0.82	$	0.80	$	0.67	$	0.64	$	0.23
Weighted-Average Shares Outstanding
Basic	225,971,719		220,620,496		220,469,827		220,562,909		220,569,259
Diluted	227,215,203		221,618,296		221,169,776		221,087,833		220,874,935

Dividends Declared Per Share	$	0.940	$	0.930	$	0.920	$	0.910	$	0.900

________

(a)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 – Second Quarter 2026


FFO and AFFO, Consolidated – Last Five Quarters

In thousands, except share and per share amounts.


	Three Months Ended
	Jun. 30, 2026		Mar. 31, 2026		Dec. 31, 2025		Sep. 30, 2025		Jun. 30, 2025
Net income attributable to W. P. Carey	$	185,389	$	176,302	$	148,319	$	140,996	$	51,220
Adjustments:
Depreciation and amortization of real property	133,663		135,480		144,641		124,906		119,930
Impairment charges — real estate	79,421		40,008		39,690		19,474		4,349
Gain on sale of real estate, net	(5,819)		(54,141)		(52,791)		(44,401)		(52,824)
Proportionate share of adjustments to earnings from equity method investments (a) (b)	(50,133)		2,263		2,255		2,271		2,231
Proportionate share of adjustments for noncontrolling interests (c) (d)	(26)		(25)		5,958		(82)		(82)
Total adjustments	157,106		123,585		139,753		102,168		73,604
FFO (as defined by NAREIT) Attributable to W. P. Carey (e)	342,495		299,887		288,072		243,164		124,824
Adjustments:
Other (gains) and losses (f)	(48,558)		(6,791)		10,131		31,011		148,768
Straight-line and other leasing and financing adjustments	(15,459)		(24,178)		(20,758)		(20,424)		(15,374)
Stock-based compensation	13,909		7,441		8,650		11,153		10,943
Amortization of deferred financing costs	5,292		5,139		4,888		4,874		4,628
Above- and below-market rent intangible lease amortization, net	3,706		2,498		941		4,363		5,061
Tax expense (benefit) — deferred and other	2,617		2,727		(11,708)		(1,215)		2,820
Merger and other expenses	613		1,180		478		1,021		192
Other amortization and non-cash items	548		593		589		587		579
Proportionate share of adjustments to earnings from equity method investments (a)	303		213		(43)		2,194		309
Proportionate share of adjustments for noncontrolling interests (c)	(22)		(52)		(116)		(99)		(80)
Total adjustments	(37,051)		(11,230)		(6,948)		33,465		157,846
AFFO Attributable to W. P. Carey (e)	$	305,444	$	288,657	$	281,124	$	276,629	$	282,670

Summary
FFO (as defined by NAREIT) attributable to W. P. Carey (e)	$	342,495	$	299,887	$	288,072	$	243,164	$	124,824
FFO (as defined by NAREIT) attributable to W. P. Carey per diluted share (e)	$	1.51	$	1.35	$	1.30	$	1.10	$	0.57
AFFO attributable to W. P. Carey (e)	$	305,444	$	288,657	$	281,124	$	276,629	$	282,670
AFFO attributable to W. P. Carey per diluted share (e)	$	1.34	$	1.30	$	1.27	$	1.25	$	1.28
Diluted weighted-average shares outstanding	227,215,203		221,618,296		221,169,776		221,087,833		220,874,935

________

(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 June 30, 2026 primarily comprises a mark-to-market unrealized gain for our investment in shares of Lineage of $41.6 million, net gains on foreign currency exchange rate movements of $10.8 million and a non-cash allowance for credit losses of $6.4 million.


						Investing for the Long Run® \| 6

W. P. Carey Inc.

Financial Results – Second Quarter 2026


Elements of Pro Rata Statement of Income and AFFO Adjustments

In thousands. For the three months ended June 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	$	4,885	$	(86)	$	(10,725)	(c)
Income from finance leases and loans receivable	96		(105)		(1,032)
Operating property revenues	—				—
Other lease-related income	31		—		—

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

Operating Expenses
Depreciation and amortization	1,108		(25)		(134,848)		(d)
Impairment charges — real estate	—		—		(79,421)		(e)
General and administrative	—		—		—
Reimbursable tenant costs	849		(31)		—
Property expenses, excluding reimbursable tenant costs	398		1		(454)		(e)
Stock-based compensation expense	—		—		(13,909)		(e)
Operating property expenses	—		—		—		(e)
Merger and other expenses	—		—		(613)

Other Income and Expenses
Interest expense	(422)		—		5,295		(f)
Gain on sale of real estate, net	49,909		—		(55,728)		(g)
Other gains and (losses)	(76)		24		(48,506)		(h)
Non-operating income	96		—		—
Earnings from equity method investments	(52,061)		—		(1,216)		(g) (i)

Provision for income taxes	(103)		(1)		2,722		(j)
Net income attributable to noncontrolling interests	—		113		—

________

(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 $14.4 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)Adjustments reflect our $49.9 million proportionate share of a gain recognized on the sale of a portfolio by a jointly owned investment.

(h)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.

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

(j)Primarily represents the elimination of deferred taxes.


						Investing for the Long Run® \| 7

W. P. Carey Inc.

Financial Results – Second Quarter 2026


Capital Expenditures

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


Turnover Costs (a)
Tenant improvements	$	1,160
Leasing costs	959
Total Tenant Improvements and Leasing Costs	2,119
Property improvements — net-lease properties	253
Property improvements — operating properties	174
Total Turnover Costs	$	2,546

Maintenance Capital Expenditures
Net-lease properties	$	8,188
Operating properties	296
Total Maintenance Capital Expenditures	$	8,484

________

(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

Second Quarter 2026


						Investing for the Long Run® \| 9

W. P. Carey Inc.

Balance Sheets and Capitalization – Second Quarter 2026


Consolidated Balance Sheets

In thousands, except share and per share amounts.



	June 30, 2026		December 31, 2025
Assets
Investments in real estate:
Land, buildings and improvements — net lease and other	$	15,222,867	$	14,451,306
Land, buildings and improvements — operating properties	181,694		286,079
Net investments in finance leases and loans receivable	1,174,274		1,171,886
In-place lease intangible assets and other	2,581,342		2,466,199
Above-market rent intangible assets	653,281		668,707
Investments in real estate	19,813,458		19,044,177
Accumulated depreciation and amortization (a)	(3,656,944)		(3,578,330)
Assets held for sale, net	10,441		3,327
Net investments in real estate	16,166,955		15,469,174
Equity method investments	279,503		310,178
Cash and cash equivalents	163,538		155,329
Other assets, net	1,042,026		1,068,480
Goodwill	982,611		987,071
Total assets	$	18,634,633	$	17,990,232

Liabilities and Equity
Debt:
Senior unsecured notes, net	$	7,376,851	$	6,950,261
Unsecured term loans, net	1,164,524		1,196,366
Unsecured revolving credit facility	116,230		435,417
Non-recourse mortgages, net	194,246		140,646
Debt, net	8,851,851		8,722,690
Accounts payable, accrued expenses and other liabilities	621,068		670,038
Below-market rent and other intangible liabilities, net	97,192		104,055
Deferred income taxes	157,117		151,820
Dividends payable	218,789		207,487
Total liabilities	9,946,017		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; 227,807,251 and 219,145,876 shares, respectively, issued and outstanding	228		219
Additional paid-in capital	12,418,948		11,830,737
Distributions in excess of accumulated earnings	(3,605,214)		(3,539,592)
Deferred compensation obligation	100,172		80,239
Accumulated other comprehensive loss	(241,737)		(253,346)
Total stockholders' equity	8,672,397		8,118,257
Noncontrolling interests	16,219		15,885
Total equity	8,688,616		8,134,142
Total liabilities and equity	$	18,634,633	$	17,990,232

________


						Investing for the Long Run® \| 10

W. P. Carey Inc.

Balance Sheets and Capitalization – Second Quarter 2026


Capitalization

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


Description	Shares	Share Price		Market Value
Equity
Common equity	227,807,251	$	71.50	$	16,288,218
Preferred equity				—
Total Equity Market Capitalization				16,288,218

				Outstanding Balance (a)
Pro Rata Debt
Non-recourse mortgages				217,988
Unsecured term loans (due February 14, 2028)				600,969
Unsecured term loan (due April 24, 2029)				569,700
Unsecured revolving credit facility (due February 14, 2029)				116,230
Senior unsecured notes: (b)
Due October 1, 2026 (USD) (c)				350,000
Due April 15, 2027 (EUR)				569,700
Due April 15, 2028 (EUR)				569,700
Due July 15, 2029 (USD)				325,000
Due September 28, 2029 (EUR)				170,910
Due June 1, 2030 (EUR)				598,185
Due July 15, 2030 (USD)				400,000
Due February 1, 2031 (USD)				500,000
Due October 2, 2031 (EUR)				569,700
Due February 1, 2032 (USD)				350,000
Due July 23, 2032 (EUR)				740,610
Due September 28, 2032 (EUR)				227,880
Due April 1, 2033 (USD)				425,000
Due June 30, 2034 (USD)				400,000
Due November 19, 2034 (EUR)				683,640
Due May 10, 2035 (EUR)				569,700
Total Pro Rata Debt				8,954,912

Total Capitalization				$	25,243,130

________

(a)Excludes unamortized discount, net totaling $46.6 million and unamortized deferred financing costs totaling $35.1 million as of June 30, 2026.

(b)Excludes $350 million of senior unsecured notes due September 15, 2036 that were issued on July 2, 2026.

(c)We are scheduled to prepay our $350 million of 4.250% senior unsecured notes due October 1, 2026 on July 29, 2026, with no associated prepayment costs.


						Investing for the Long Run® \| 11

W. P. Carey Inc.

Balance Sheets and Capitalization – Second Quarter 2026


Debt Overview

Dollars in thousands. Pro rata. As of June 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)	$	69,901	4.5	%	$	32,909	5.5	%	$	19,729	4.6	%	$	122,539	1.3	%	4.8	%	2.1
Floating	—		—	%	95,449		4.3	%	—		—	%	95,449		1.1	%	4.3	%	4.8
Total Pro Rata Non-Recourse Debt	69,901		4.5	%	128,358		4.6	%	19,729		4.6	%	217,988		2.4	%	4.5	%	3.3

Recourse Debt (b) (c)
Fixed – Senior unsecured notes: (e)
Due October 1, 2026 (f)	350,000		4.3	%	—		—	%	—		—	%	350,000		3.9	%	4.3	%	0.3
Due April 15, 2027	—		—	%	569,700		2.1	%	—		—	%	569,700		6.4	%	2.1	%	0.8
Due April 15, 2028	—		—	%	569,700		1.4	%	—		—	%	569,700		6.4	%	1.4	%	1.8
Due July 15, 2029	325,000		3.9	%	—		—	%	—		—	%	325,000		3.6	%	3.9	%	3.0
Due September 28, 2029	—		—	%	170,910		3.4	%	—		—	%	170,910		1.9	%	3.4	%	3.2
Due June 1, 2030	—		—	%	598,185		1.0	%	—		—	%	598,185		6.7	%	1.0	%	3.9
Due July 15, 2030	400,000		4.7	%	—		—	%	—		—	%	400,000		4.5	%	4.7	%	4.0
Due February 1, 2031	500,000		2.4	%	—		—	%	—		—	%	500,000		5.6	%	2.4	%	4.6
Due October 2, 2031	—		—	%	569,700		3.3	%	—		—	%	569,700		6.4	%	3.3	%	5.3
Due February 1, 2032	350,000		2.5	%	—		—	%	—		—	%	350,000		3.9	%	2.5	%	5.6
Due July 23, 2032	—		—	%	740,610		4.3	%	—		—	%	740,610		8.3	%	4.3	%	6.1
Due September 28, 2032	—		—	%	227,880		3.7	%	—		—	%	227,880		2.4	%	3.7	%	6.3
Due April 1, 2033	425,000		2.3	%	—		—	%	—		—	%	425,000		4.7	%	2.3	%	6.8
Due June 30, 2034	400,000		5.4	%	—		—	%	—		—	%	400,000		4.5	%	5.4	%	8.0
Due November 19, 2034	—		—	%	683,640		3.7	%	—		—	%	683,640		7.6	%	3.7	%	8.4
Due May 10, 2035	—		—	%	569,700		3.8	%	—		—	%	569,700		6.4	%	3.8	%	8.9
Total Senior Unsecured Notes	2,750,000		3.6	%	4,700,025		2.9	%	—		—	%	7,450,025		83.2	%	3.1	%	5.0
Swapped to Fixed:
Unsecured term loan (due April 24, 2029) (g)	—		—	%	569,700		2.8	%	—		—	%	569,700		6.4	%	2.8	%	2.8
Unsecured term loan (due February 14, 2028) (g)	—		—	%	—		—	%	356,980		4.7	%	356,980		4.0	%	4.7	%	1.6
Floating:
Unsecured revolving credit facility (due February 14, 2029) (h)	98,000		4.3	%	18,230		2.8	%	—		—	%	116,230		1.3	%	4.1	%	2.6
Unsecured term loan (due February 14, 2028) (i)	—		—	%	—		—	%	243,989		3.1	%	243,989		2.7	%	3.1	%	1.6
Total Recourse Debt	2,848,000		3.6	%	5,287,955		2.9	%	600,969		4.0	%	8,736,924		97.6	%	3.2	%	4.6

Total Pro Rata Debt Outstanding	$	2,917,901	3.6	%	$	5,416,313	2.9	%	$	620,698	4.1	%	$	8,954,912	100.0	%	3.2	%	4.5

________

(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 June 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 $46.6 million and unamortized deferred financing costs totaling $35.1 million as of June 30, 2026.

(d)Includes $32.9 million of non-recourse mortgage debt which is swapped to fixed-rate through mortgage maturity.

(e)Excludes $350 million of senior unsecured notes due September 15, 2036 that were issued on July 2, 2026.

(f)We are scheduled to prepay our $350 million of 4.250% senior unsecured notes due October 1, 2026 on July 29, 2026, with no associated prepayment costs.

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

(h)We incurred interest on our Unsecured revolving credit facility at SOFR or EURIBOR, plus 0.685% for all base rates as of June 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 June 30, 2026.

(i)We incurred interest at CORRA, plus 0.80% on this Unsecured term loan as of June 30, 2026.


						Investing for the Long Run® \| 12

W. P. Carey Inc.

Balance Sheets and Capitalization – Second Quarter 2026


Debt Maturity

Dollars in thousands. Pro rata. As of June 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	%	$	28,264	$	28,453	0.3	%
2028	5	14,100		5.0	%	72,441		77,260		0.9	%
2029	3	1,464		4.0	%	10,911		11,659		0.1	%
2031	20	19,921		4.3	%	77,192		97,381		1.1	%
2033	1	1,504		5.6	%	1,648		3,235		—	%
Total Pro Rata Non-Recourse Debt	32	$	38,287	4.5	%	$	190,456	217,988		2.4	%

Recourse Debt
Fixed – Senior unsecured notes: (d)
Due October 1, 2026 (USD) (e)				4.3	%			350,000		3.9	%
Due April 15, 2027 (EUR)				2.1	%			569,700		6.4	%
Due April 15, 2028 (EUR)				1.4	%			569,700		6.4	%
Due July 15, 2029 (USD)				3.9	%			325,000		3.6	%
Due September 28, 2029 (EUR)				3.4	%			170,910		1.9	%
Due June 1, 2030 (EUR)				1.0	%			598,185		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	%			569,700		6.4	%
Due February 1, 2032 (USD)				2.5	%			350,000		3.9	%
Due July 23, 2032 (EUR)				4.3	%			740,610		8.2	%
Due September 28, 2032 (EUR)				3.7	%			227,880		2.5	%
Due April 1, 2033 (USD)				2.3	%			425,000		4.7	%
Due June 30, 2034 (USD)				5.4	%			400,000		4.5	%
Due November 19, 2034 (EUR)				3.7	%			683,640		7.6	%
Due May 10, 2035 (EUR)				3.8	%			569,700		6.4	%
Total Senior Unsecured Notes				3.1	%			7,450,025		83.2	%
Swapped to Fixed:
Unsecured term loan (due April 24, 2029) (f)				2.8	%			569,700		6.4	%
Unsecured term loan (due February 14, 2028) (f)				4.7	%			356,980		4.0	%
Floating:
Unsecured revolving credit facility (due February 14, 2029) (g)				4.1	%			116,230		1.3	%
Unsecured term loan (due February 14, 2028) (h)				3.1	%			243,989		2.7	%
Total Recourse Debt				3.2	%			8,736,924		97.6	%

Total Pro Rata Debt Outstanding				3.2	%			$	8,954,912	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 June 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 $46.6 million and unamortized deferred financing costs totaling $35.1 million as of June 30, 2026.

(d)Excludes $350 million of senior unsecured notes due September 15, 2036 that were issued on July 2, 2026.

(e)We are scheduled to prepay our $350 million of 4.250% senior unsecured notes due October 1, 2026 on July 29, 2026, with no associated prepayment costs.

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

(g)We incurred interest on our Unsecured revolving credit facility at SOFR or EURIBOR, plus 0.685% for all base rates as of June 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 June 30, 2026.

(h)We incurred interest at CORRA, plus 0.80% on this Unsecured term loan as of June 30, 2026.


						Investing for the Long Run® \| 13

W. P. Carey Inc.

Balance Sheets and Capitalization – Second Quarter 2026


Senior Unsecured Notes

As of June 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
Jun. 30, 2026

Limitation on the incurrence of debt

"Total Debt" /
"Total Assets"

≤ 60%

40.0%

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

5.0x

Maintenance of unencumbered asset value

"Unencumbered Assets" / "Total Unsecured Debt"

≥ 150%

245.1%


						Investing for the Long Run® \| 14

W. P. Carey Inc.

Real Estate

Second Quarter 2026


						Investing for the Long Run® \| 15

W. P. Carey Inc.

Real Estate – Second Quarter 2026


Investment Activity – Investment Volume

Dollars in thousands. Pro rata. For the six months ended June 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, 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

Year-to-Date Total

1,288,675

8,872,604


						Investing for the Long Run® \| 16

W. P. Carey Inc.

Real Estate – Second Quarter 2026


Investment Activity – Investment Volume (continued)

Dollars in thousands. Pro rata. For the six months ended June 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	103		2,359		20,726		23,449
SE Corner of Las Vegas & Elvis Presley (g)	Las Vegas, NV	Retail	Nov-24	2026	539		779		18,196		25,000
Total					642		3,138		284,806		305,336

Year-to-Date Total Investment Volume							$	1,291,813

________

(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 – Second 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 Jun. 30, 2026 (c)		Total Funded Through Jun. 30, 2026		Maximum Commitment / Gross Investment Amount
Tenant	Location										Remaining		Total
TI Automotive (d) (e)	Brampton, Canada	Build-to-Suit	Industrial	Q3 2026	120,222	20	$	3,232	$	10,682	$	7,133	$	18,126
Nord Anglia (d)	Houston, TX	Expansion	Education	Q3 2026	13,150	20	—		869		7,601		8,500
AEG Presents (f)	Austin, TX	Build-to-Suit	Specialty (Entertainment)	Q4 2026	56,403	30	11,306		24,667		22,889		47,556
Novus Foods (d)	Delphos, OH	Build-to-Suit & Expansion	Industrial	Q4 2026	139,250	25	9,033		12,358		25,471		38,000
Various	Various, US	Solar Projects	Various	Various	N/A	N/A	321		5,429		15,083		20,512
Expected Completion Date 2026 Total					329,025	26	23,892		54,005		78,177		132,694
AEG Presents (f)	Portland, OR	Build-to-Suit	Specialty (Entertainment)	Q1 2027	57,825	30	9,171		27,552		33,161		60,713
Untenanted	San Leandro, CA	Redevelopment	Warehouse	Q1 2027	67,440	N/A	1,373		2,679		12,539		15,218
Untenanted	Atlanta, GA	Redevelopment	Warehouse	Q1 2027	99,000	N/A	357		670		11,009		11,679
Untenanted	Atlanta, GA	Redevelopment	Warehouse	Q2 2027	432,800	N/A	500		1,753		39,019		40,772
Ontime (e)	Noblejas, Spain	Purchase Commitment	Industrial	Q4 2027	81,784	19	—		—		37,518		37,518
Expected Completion Date 2027 Total					738,849	25	11,401		32,654		133,246		165,900

Capital Investments and Commitments Total					1,067,874	25	$	35,293	$	86,659	$	211,423	$	298,594

________

(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 June 30, 2026 excludes $0.5 million spent on pre-development work for potential projects in various phases.

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

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

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


						Investing for the Long Run® \| 18

W. P. Carey Inc.

Real Estate – Second Quarter 2026


Investment Activity – Dispositions

Dollars in thousands. Pro rata. For the six months ended June 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

Warehouse

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

Year-to-Date Total Dispositions

246,217

3,524,997

________

(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 – Second Quarter 2026


Joint Ventures

Dollars in thousands. As of June 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	$	22,991	$	116,795	$	10,921
Harmon Retail Corner	Common equity interest	15.00%	143,000		—		21,450		—
Total Unconsolidated Joint Ventures			388,884		22,991		138,245		10,921

Consolidated Joint Ventures (d)
Fentonir (e)	Net lease	94.90%	—		2,859		—		2,713
McCoy Rockford	Net lease	90.00%	—		991		—		892
Iowa Board of Regents	Net lease	90.00%	—		707		—		636
Total Consolidated Joint Ventures			—		4,557		—		4,241
Total Unconsolidated and Consolidated Joint Ventures			$	388,884	$	27,548	$	138,245	$	15,162

________

(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% ownership interest. These investments have no debt or ABR as of June 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 – Second Quarter 2026


Top 25 Tenants

Dollars in thousands. Pro rata. As of June 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	%	23.2
Apotex (a)	Pharmaceutical R&D and manufacturing properties in the Greater Toronto Area leased to generic drug manufacturer	11	34,451		2.1	%	16.8
Life Time Fitness	Health and fitness facilities in the U.S. leased to premium athletic club operator	12	32,450		2.0	%	7.4
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		1.8	%	19.9
Metro Italia (b)	Business-to-business retail stores in Italy leased to cash and carry wholesaler	18	28,572		1.7	%	4.8
Fortenova (b)	Grocery stores and one warehouse in Croatia leased to European food retailer	19	28,363		1.7	%	7.8
OBI (b)	Retail properties in Poland leased to German DIY retailer	26	27,052		1.6	%	7.7
Kesko Senukai (b)	Distribution facilities and retail properties in Lithuania, Estonia and Latvia leased to European DIY retailer	20	25,501		1.6	%	5.7
Fedrigoni (b)	Industrial and warehouse facilities in Germany, Italy and Spain leased to global manufacturer of premium packaging and labels	16	24,744		1.5	%	17.4
TI Automotive (a) (c)	Automotive parts manufacturing properties in the U.S., Canada and Mexico leased to OEM supplier	19	24,524		1.5	%	18.6
Top 10 Total		227	297,355		18.1	%	13.4
Nord Anglia	K-12 private schools in Orlando, Miami and Houston leased to international day and boarding school operator	3	24,228		1.5	%	18.2
Eroski (b)	Grocery stores and warehouses in Spain leased to Spanish food retailer	63	23,827		1.4	%	9.7
Berry Global	Manufacturing facilities in the U.S. leased to international producer and supplier of packaging solutions	8	21,301		1.3	%	12.3
Quikrete (b)	Industrial facilities in the U.S. and Canada leased to concrete and building products manufacturer	27	21,035		1.3	%	17.0
Advance Auto Parts	Distribution facilities in the U.S. leased to automotive aftermarket parts provider	28	19,929		1.2	%	6.6
Pendragon (b)	Dealerships in the United Kingdom leased to automotive retailer	46	18,690		1.1	%	12.3
Dollar General	Retail properties in the U.S. leased to discount retailer	129	17,644		1.1	%	13.0
Maker’s Pride	Production, packaging and distribution facilities in the U.S. leased to North American contract food manufacturer	18	17,636		1.1	%	16.1
Jumbo (b)	Logistics and cold storage warehouse facilities in the Netherlands leased to European supermarket chain	4	15,171		0.9	%	7.2
Danske Fragtmaend (b)	Distribution facilities in Denmark leased to Danish freight company	15	14,958		0.9	%	10.6
Top 20 Total		568	491,774		29.9	%	13.1
Hellweg (b)	Retail properties in Germany leased to German DIY retailer	16	14,940		0.9	%	14.7
Intergamma (b)	Retail properties in the Netherlands leased to European DIY retailer	36	14,502		0.9	%	7.1
Go Auto (b)	Dealerships in Canada leased to automotive retailer	14	13,809		0.8	%	24.8
Rocky Vista University	Private medical schools in Colorado, Montana and Utah leased to for-profit medical school operator	5	13,028		0.8	%	24.9
Raben Group (b)	Distribution facilities in Poland leased to European logistics company	8	12,794		0.8	%	14.6
Top 25 Total (d)		647	$	560,847	34.1	%	13.5

________

(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 19 properties leased to TI Automotive, eight 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 – Second Quarter 2026


Diversification by Property Type

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


	Total Net-Lease Portfolio
Property Type	ABR		ABR %		Square Footage (a)	Square Footage %
U.S.
Industrial	$	431,714	26.2	%	59,923	31.8	%
Warehouse	236,090		14.4	%	42,086	22.3	%
Retail (b)	137,318		8.4	%	6,449	3.4	%
Other (c)	192,709		11.7	%	9,587	5.1	%
U.S. Total	997,831		60.7	%	118,045	62.6	%

International
Industrial	204,832		12.5	%	26,498	14.0	%
Warehouse	176,694		10.7	%	24,964	13.3	%
Retail (b)	228,255		13.9	%	17,179	9.1	%
Other (c)	35,303		2.2	%	1,812	1.0	%
International Total	645,084		39.3	%	70,453	37.4	%

Total
Industrial	636,546		38.7	%	86,421	45.8	%
Warehouse	412,784		25.1	%	67,050	35.6	%
Retail (b)	365,573		22.3	%	23,628	12.5	%
Other (c)	228,012		13.9	%	11,399	6.1	%
Total (d)	$	1,642,915	100.0	%	188,498	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, office, hotel (net lease) 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 – Second Quarter 2026


Diversification by Tenant Industry

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


	Total Net-Lease Portfolio
Industry Type (a)	ABR		ABR %		Square Footage	Square Footage %
Packaged Foods & Meats	$	147,416	9.0	%	18,140	9.6	%
Food Retail	140,462		8.5	%	10,279	5.5	%
Home Improvement Retail	101,967		6.2	%	12,370	6.6	%
Automotive Retail	94,544		5.8	%	7,723	4.1	%
Auto Parts & Equipment	81,043		4.9	%	11,954	6.3	%
Air Freight & Logistics	66,947		4.1	%	10,006	5.3	%
Education Services	63,298		3.8	%	2,804	1.5	%
Pharmaceuticals	49,307		3.0	%	3,076	1.6	%
Industrial Machinery	48,979		3.0	%	6,856	3.6	%
Leisure Facilities	44,209		2.7	%	1,982	1.1	%
Self-Storage REITs	42,578		2.6	%	3,171	1.7	%
Metal, Glass & Plastic Containers	39,947		2.4	%	5,318	2.8	%
Trading Companies & Distributors	38,387		2.3	%	8,504	4.5	%
Building Products	33,741		2.0	%	6,850	3.6	%
Environmental & Facilities Services	33,480		2.0	%	2,321	1.2	%
Paper Products	30,671		1.9	%	5,540	2.9	%
Other Specialty Retail	27,772		1.7	%	3,127	1.7	%
Specialty Chemicals	27,631		1.7	%	4,874	2.6	%
Construction Materials	24,021		1.5	%	3,781	2.0	%
Diversified Support Services	22,243		1.4	%	1,835	1.0	%
Construction Machinery	20,921		1.3	%	2,733	1.4	%
Food Distributors	20,712		1.3	%	1,552	0.8	%
Consumer Staples Merchandise Retail	19,833		1.2	%	1,656	0.9	%
Commodity Chemicals	17,165		1.0	%	2,517	1.3	%
Diversified Metals	16,788		1.0	%	3,417	1.8	%
Other (62 industries, each <1% ABR) (b)	388,853		23.7	%	46,112	24.6	%
Total (c)	$	1,642,915	100.0	%	188,498	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 – Second Quarter 2026


Diversification by Geography

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


	Total Net-Lease Portfolio
Region	ABR		ABR %		Square Footage (a)	Square Footage %
U.S.
South
Texas	$	103,599	6.3	%	12,031	6.4	%
Florida	46,326		2.8	%	3,798	2.0	%
Tennessee	39,025		2.4	%	4,476	2.4	%
Georgia	27,605		1.7	%	3,635	1.9	%
Alabama	24,176		1.5	%	2,905	1.5	%
Other (b)	41,621		2.5	%	4,567	2.4	%
Total South	282,352		17.2	%	31,412	16.6	%
Midwest
Illinois	69,136		4.2	%	9,499	5.0	%
Ohio	52,567		3.2	%	8,837	4.7	%
Indiana	43,966		2.7	%	6,251	3.3	%
Michigan	28,674		1.7	%	4,613	2.5	%
Wisconsin	20,784		1.3	%	3,200	1.7	%
Other (b)	61,377		3.7	%	7,170	3.8	%
Total Midwest	276,504		16.8	%	39,570	21.0	%
East
North Carolina	44,269		2.7	%	9,103	4.8	%
Kentucky	30,061		1.8	%	4,485	2.4	%
Pennsylvania	29,631		1.8	%	3,416	1.8	%
Massachusetts	29,383		1.8	%	1,436	0.8	%
New Jersey	26,502		1.6	%	1,139	0.6	%
New York	24,070		1.5	%	2,382	1.3	%
South Carolina	20,530		1.2	%	4,515	2.4	%
Other (b)	42,768		2.6	%	5,643	3.0	%
Total East	247,214		15.0	%	32,119	17.1	%
West
California	77,884		4.7	%	5,316	2.8	%
Arizona	25,331		1.6	%	2,544	1.3	%
Nevada	18,050		1.1	%	485	0.3	%
Other (b)	70,496		4.3	%	6,599	3.5	%
Total West	191,761		11.7	%	14,944	7.9	%
U.S. Total	997,831		60.7	%	118,045	62.6	%
International
Poland	78,056		4.7	%	10,306	5.5	%
Italy	74,749		4.5	%	9,941	5.3	%
Canada (c)	73,764		4.5	%	6,125	3.2	%
The Netherlands	68,502		4.2	%	6,847	3.6	%
United Kingdom	64,981		4.0	%	4,848	2.6	%
Germany	54,792		3.3	%	5,772	3.1	%
Spain	44,919		2.7	%	4,677	2.5	%
Croatia	29,279		1.8	%	2,063	1.1	%
Mexico (d)	28,004		1.7	%	4,328	2.3	%
France	27,659		1.7	%	2,149	1.1	%
Denmark	27,358		1.7	%	3,002	1.6	%
Lithuania	19,156		1.2	%	2,014	1.1	%
Other (e)	53,865		3.3	%	8,381	4.4	%
International Total	645,084		39.3	%	70,453	37.4	%
Total (f)	$	1,642,915	100.0	%	188,498	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, Hawaii, Idaho, Washington, Wyoming and New Mexico.

(c)$50.9 million (69%) 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 – Second Quarter 2026


Contractual Rent Increases

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


	Total Net-Lease Portfolio
Rent Adjustment Measure	ABR		ABR %		Square Footage	Square Footage %
Uncapped CPI	$	489,666	29.8	%	46,935	24.9	%
Capped CPI	295,704		18.0	%	40,377	21.4	%
CPI-linked	785,370		47.8	%	87,312	46.3	%
Fixed	802,088		48.8	%	94,653	50.2	%
Other (a)	47,224		2.9	%	3,358	1.8	%
None	8,233		0.5	%	313	0.2	%
Vacant	—		—	%	2,862	1.5	%
Total (b)	$	1,642,915	100.0	%	188,498	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 – Second 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 June 30, 2025 to June 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 June 30, 2026.


	ABR
	As of
	Jun. 30, 2026		Jun. 30, 2025		Increase		% Increase
Property Type
Industrial	$	510,045	$	497,927	$	12,118	2.4	%
Warehouse	329,211		318,846		10,365		3.3	%
Retail (a)	284,603		278,838		5,765		2.1	%
Other (b)	186,943		182,301		4,642		2.5	%
Total	$	1,310,802	$	1,277,912	$	32,890	2.6	%

Rent Adjustment Measure
Uncapped CPI	$	391,935	$	383,024	$	8,911	2.3	%
Capped CPI	243,598		236,086		7,512		3.2	%
CPI-linked	635,533		619,110		16,423		2.7	%
Fixed	624,150		608,903		15,247		2.5	%
Other (c)	45,679		44,459		1,220		2.7	%
None	5,440		5,440		—		—	%
Total	$	1,310,802	$	1,277,912	$	32,890	2.6	%

Geography
U.S.	$	804,370	$	785,718	$	18,652	2.4	%
Europe	420,948		409,086		11,862		2.9	%
Other International (d)	85,484		83,108		2,376		2.9	%
Total	$	1,310,802	$	1,277,912	$	32,890	2.6	%

Same-Store Portfolio Summary
Number of properties	1,377
Square footage (in thousands)	153,893


						Investing for the Long Run® \| 26

W. P. Carey Inc.

Real Estate – Second Quarter 2026

Comprehensive Same-Store Growth

Same-store portfolio includes net leased properties that were continuously owned and in place during the quarter ended June 30, 2025 through June 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 June 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
	Jun. 30, 2026		Jun. 30, 2025		Increase		% Increase
Property Type
Industrial	$	123,859	$	121,208	$	2,651	2.2	%
Warehouse	87,011		87,905		(894)		(1.0)	%
Retail (a)	74,932		77,504		(2,572)		(3.3)	%
Other (b)	50,172		48,778		1,394		2.9	%
Total	$	335,974	$	335,395	$	579	0.2	%

Rent Adjustment Measure
Uncapped CPI	$	103,164	$	106,124	$	(2,960)	(2.8)	%
Capped CPI	63,251		62,664		587		0.9	%
CPI-linked	166,415		168,788		(2,373)		(1.4)	%
Fixed	157,081		154,311		2,770		1.8	%
Other (c)	11,433		11,185		248		2.2	%
None	1,045		1,111		(66)		(5.9)	%
Total	$	335,974	$	335,395	$	579	0.2	%

Geography
U.S.	$	203,642	$	200,907	$	2,735	1.4	%
Europe	110,672		113,621		(2,949)		(2.6)	%
Other International (d)	21,660		20,867		793		3.8	%
Total	$	335,974	$	335,395	$	579	0.2	%

Same-Store Portfolio Summary
Number of properties	1,487
Square footage (in thousands)	161,733


						Investing for the Long Run® \| 27

W. P. Carey Inc.

Real Estate – Second Quarter 2026

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


	Three Months Ended
	Jun. 30, 2026		Jun. 30, 2025
Consolidated Lease Revenues
Total lease revenues – as reported	$	409,661	$	364,195
Income from finance leases and loans receivable	27,162		20,276
Less: Reimbursable tenant costs – as reported	(19,472)		(17,718)
Less: Income from secured loans receivable	(727)		(641)
	416,624		366,112

Adjustments for Pro Rata Ownership of Real Estate Joint Ventures:
Add: Pro rata share of adjustments from equity method investments	4,036		7,059
Less: Pro rata share of adjustments for noncontrolling interests	(160)		(237)
	3,876		6,822

Adjustments for Pro Rata Non-Cash Items:
Less: Straight-line and other leasing and financing adjustments	(15,459)		(15,374)
Add: Above- and below-market rent intangible lease amortization	3,706		5,061
Less: Adjustments for pro rata ownership	(9)		(77)
	(11,762)		(10,390)

Adjustment to normalize for (i) properties not continuously owned since April 1, 2025 and (ii) constant currency presentation for prior year quarter (e)	(72,764)		(27,149)

Same-Store Pro Rata Rental Income	$	335,974	$	335,395

________

(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, office, hotel (net lease) 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 June 30, 2025 through June 30, 2026. In addition, for the three months ended June 30, 2025, an adjustment is made to reflect average exchange rates for the three months ended June 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 – Second Quarter 2026


Leasing Activity

Dollars in thousands. For the three months ended June 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	784,133	3	$	4,398		$	4,066	92.5	%	$	2,165	$	—	6.7 years
Warehouse	75,000	1	229			319		139.3	%	—		—		3.0 years
Retail	112,518	2	2,582			2,897		112.2	%	2,000		400		10.0 years
Other	—	—	—			—		—	%	—		—		N/A
Total / Weighted Average	971,651	6	$	7,209		$	7,282	101.0	%	$	4,165	$	400	7.8 years

Q2 Summary
Prior Lease ABR (% of Total Portfolio)			0.4		%


New Leases					Property and Tenant Improvements (c)		Leasing Commissions
			ABR
Property Type	Square Feet	Number of Leases	New Lease (b)						New Lease Term
Industrial	963,788	2	$	4,318	$	—	$	—	16.7 years
Warehouse	239,850	1	993		475		—		10.3 years
Retail	—	—	—		—		—		N/A
Other	—	—	—		—		—		N/A
Total / Weighted Average (d)	1,203,638	3	$	5,311	$	475	$	—	15.5 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 – Second Quarter 2026


Lease Expirations

Dollars and square footage in thousands. Pro rata. As of June 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	12	12	$	24,532	1.5	%	2,512	1.3	%
2027	34	23	40,603		2.5	%	4,247	2.3	%
2028	46	28	69,816		4.2	%	7,657	4.1	%
2029	53	39	65,790		4.0	%	7,446	3.9	%
2030	33	28	40,371		2.5	%	3,880	2.1	%
2031	48	30	79,773		4.8	%	9,612	5.1	%
2032	48	25	66,637		4.1	%	9,135	4.8	%
2033	35	26	88,999		5.4	%	12,001	6.4	%
2034	73	28	110,124		6.7	%	10,887	5.8	%
2035	24	20	78,307		4.8	%	8,805	4.7	%
2036	47	22	70,896		4.3	%	8,323	4.4	%
2037	47	24	75,944		4.6	%	9,300	4.9	%
2038	49	16	31,783		1.9	%	3,045	1.6	%
2039	100	27	75,445		4.6	%	11,329	6.0	%
Thereafter (>2039)	326	125	723,895		44.1	%	77,457	41.1	%
Vacant	—	—	—		—	%	2,862	1.5	%
Total (b)	975		$	1,642,915	100.0	%	188,498	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

Second Quarter 2026


						Investing for the Long Run® \| 31

W. P. Carey Inc.

Appendix – Second Quarter 2026


Normalized Pro Rata Cash NOI

In thousands.


	Three Months Ended Jun. 30, 2026
Consolidated Lease Revenues
Total lease revenues – as reported	$	409,661
Income from finance leases and loans receivable – as reported	27,162
Less: Income from secured loans receivable	(727)

Less: Consolidated Reimbursable and Non-Reimbursable Property Expenses
Reimbursable property expenses – as reported	19,472
Non-reimbursable property expenses – as reported	15,206
	401,418

Plus: NOI from Operating Properties
Hotel revenues	10,189
Hotel expenses	(7,969)
	2,220

Student housing and other revenues	1,449
Student housing and other expenses	(634)
	815

	404,453

Adjustments for Pro Rata Ownership of Real Estate Joint Ventures:
Add: Pro rata share of NOI from equity method investments	3,634
Less: Pro rata share of NOI attributable to noncontrolling interests	(61)
	3,573

	408,026

Adjustments for Pro Rata Non-Cash Items:
Less: Straight-line and other leasing and financing adjustments	(15,459)
Add: Above- and below-market rent intangible lease amortization	3,706
Add: Other non-cash items	454
	(11,299)

Pro Rata Cash NOI (a)	396,727

Adjustment to normalize for net lease investments and dispositions (b)	7,337

Normalized Pro Rata Cash NOI (a)	$	404,064


						Investing for the Long Run® \| 32

W. P. Carey Inc.

Appendix – Second 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 Jun. 30, 2026
Net Income Attributable to W. P. Carey
Net income attributable to W. P. Carey – as reported	$	185,389
Adjustments for Consolidated Operating Expenses
Add: Operating expenses – as reported	297,536
Less: Property expenses, excluding reimbursable tenant costs – as reported	(15,206)
Less: Operating property expenses – as reported	(8,603)
	273,727

Adjustments for Other Consolidated Revenues and Expenses:
Less: Reimbursable property expenses – as reported	(19,472)
Add: Provision for income taxes – as reported	13,091
Less: Other lease-related income – as reported	(11,209)
Add: Other income and (expenses) – as reported	(35,222)
Less: Other advisory income and reimbursements – as reported	(1,000)
Less: Asset management fees revenue – as reported	(394)
	(54,206)

Other Adjustments:
Less: Straight-line and other leasing and financing adjustments	(15,459)
Adjustment to normalize for net lease investments and dispositions (b)	7,337
Add: Adjustments for pro rata ownership	3,852
Add: Above- and below-market rent intangible lease amortization	3,706
Less: Income from secured loans receivable	(727)
Add: Property expenses, excluding reimbursable tenant costs, non-cash	445
	(846)

Normalized Pro Rata Cash NOI (a)	$	404,064

________

(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 June 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 June 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 – Second Quarter 2026


Adjusted EBITDA – Last Five Quarters

In thousands.


	Three Months Ended
	Jun. 30, 2026		Mar. 31, 2026		Dec. 31, 2025		Sep. 30, 2025		Jun. 30, 2025
Net income	$	185,659	$	176,496	$	154,562	$	141,225	$	51,312

Adjustments to Derive Adjusted EBITDA (a)
Depreciation and amortization	134,378		136,183		145,339		125,586		120,595
Impairment charges — real estate	79,421		40,008		39,690		19,474		4,349
Interest expense	78,979		78,460		75,431		75,226		71,795
Other (gains) and losses (b)	(48,558)		(6,791)		10,131		31,011		148,768
Straight-line and other leasing and financing adjustments (c)	(15,459)		(24,178)		(20,758)		(20,424)		(15,374)
Stock-based compensation expense	13,909		7,441		8,650		11,153		10,943
Provision for (benefit from) income taxes	13,091		14,634		(1,310)		8,495		13,091
Gain on sale of real estate, net	(5,819)		(54,141)		(52,791)		(44,401)		(52,824)
Above- and below-market rent intangible lease amortization	3,706		2,498		941		4,363		5,061
Merger and other expenses	613		1,180		478		1,021		192
Other amortization and non-cash charges	446		489		467		465		458
	254,707		195,783		206,268		211,969		307,054

Adjustments for Pro Rata Ownership
Real Estate Joint Ventures:
Add: Pro rata share of adjustments for equity method investments (d)	(49,421)		3,206		2,961		5,220		3,312
Less: Pro rata share of adjustments for amounts attributable to noncontrolling interests	(324)		(280)		(429)		(430)		(308)
	(49,745)		2,926		2,532		4,790		3,004

Adjustment to normalize for intra-period acquisitions and dispositions (e)	6,923		4,363		3,312		2,545		3,222

Adjusted EBITDA (f)	$	397,544	$	379,568	$	366,674	$	360,529	$	364,592

________

(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 – Second Quarter 2026


Reconciliation of Net Debt to Adjusted EBITDA

In thousands.


	Three Months Ended
	Jun. 30, 2026
Adjusted EBITDA (a)	$	397,544

Adjusted EBITDA (Annualized)	$	1,590,176

	As of
	Jun. 30, 2026
Total Pro Rata Debt Outstanding (b)	$	8,954,912
Less: Cash and cash equivalents	(163,538)

Net Debt	$	8,791,374
Less: Expected proceeds from unsettled forward equity (c)	(690,710)
Net Debt – Inclusive of Unsettled Forward Equity	$	8,100,664

Net Debt to Adjusted EBITDA (Annualized)	5.5x
Net Debt to Adjusted EBITDA (Annualized) – Inclusive of Unsettled Forward Equity	5.1x

________

(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 $46.6 million and unamortized deferred financing costs totaling $35.1 million as of June 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 $70.31 per share and (ii) 8,964,031 shares of unsettled “at-the-market” forward equity as of June 30, 2026, as if they had been settled for cash at a weighted-average net settlement price of $69.60 per share.


						Investing for the Long Run® \| 35

W. P. Carey Inc.

Appendix – Second 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 – Second 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 June 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

4 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 Size One of the largest owners of net lease real estate and among the top 20 REITs in the MSCI US REIT Index Diversification Highly diversified portfolio by tenant, industry, property type and geography Track Record Successful track record of investing and operating through multiple economic cycles since 1973 led by an experienced management team Proactive Asset Management U.S. and Europe-based asset management teams Balance Sheet Investment grade balance sheet with access to multiple forms of capital Real Estate Earnings Stable cash flows derived from long-term leases that contain strong contractual rent bumps W. P. Carey (NYSE: WPC) is a REIT that specializes in investing in single-tenant net lease commercial real estate, primarily in the U.S. and Europe Company Highlights Orgill | Warehouse | Inwood, WV Apotex | Industrial | Ontario, Canada

5 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 • Generate attractive risk-adjusted returns by investing in net lease commercial real estate, primarily in the U.S. and Europe • Protect downside by combining credit and real estate underwriting with sophisticated structuring and direct origination • Acquire “mission-critical” assets essential to a tenant’s operations • Create upside through rent escalations, credit improvements and real estate appreciation • Capitalize on existing tenant relationships through accretive expansions, renovations and follow-on deals • Hallmarks of our approach: • Diversification by tenant, industry, property type and geography • Disciplined • Opportunistic • Proactive asset management • Conservative capital structure Investment Strategy Transactions Evaluated on Four Key Factors Creditworthiness of Tenant • Industry drivers and trends • Competitor analysis • Company history • Financial wherewithal Criticality of Asset • Key distribution facility or profitable manufacturing plant • Critical R&D or data-center • Top performing retail stores Fundamental Value of the Underlying Real Estate • Local market analysis • Property condition • 3rd party valuation / replacement cost • Downside analysis / cost to re-lease Transaction Structure and Pricing • Lease terms – rent growth and maturity • Financial covenants • Security deposits / letters of credit

6 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 • Asset management offices in New York and Amsterdam • W. P. Carey has proven experience repositioning assets through re-leasing, restructuring and strategic disposition • Generate value-creation opportunities within our existing portfolio — focused on build-to-suits, redevelopments, and energy solutions — leveraging our Carey Tenant Solutions platform • Five-point internal rating scale used to assess and monitor tenant credit and the quality, location and criticality of each asset Domestic and international asset management capabilities to address lease expirations, changing tenant credit profiles and asset repositioning or dispositions Proactive Asset Management Asset Management Risk AnalysisAsset Management Expertise Bankruptcy Watch List Implied IG Investment Grade StableTenant Credit Obsolete Residual Risk Stable Class B Class AAsset Quality Not Critical Non- Renewal Possible Renewal Critical- Renewal Likely Highly Critical Asset Criticality Asset Location No Tenant Demand Limited Tenant Demand / Challenging Location Alternative Tenant Demand Good Location / Active Market Prime Location / High Tenant Demand Operational • Lease compliance • Insurance • Property inspections • Non-triple net lease administration • Real estate tax • Projections and portfolio valuation • Carbon emissions tracking and reporting Transaction • Leasing • Dispositions • Lease modifications • Credit and real estate risk analysis • Building expansions and redevelopment • Tenant distress and restructuring • Green Building Certifications (LEED, BREEAM) • Sustainability Solutions (solar, LED lighting, HVAC upgrades) Risk Management Scale

8 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 1. Portfolio information reflects pro rata ownership of real estate assets (excluding operating properties) as of June 30, 2026. 2. Other includes leases attributable to percentage rent (i.e., participation in the gross revenues of the tenant above a stated level), as well as leases with no escalations. 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. Large Diversified Portfolio (1) N e t- L e a s e P o rt fo li o Number of Properties 1,748 Number of Tenants 384 Square Footage 188.5 million ABR $1.64 billion North America / Europe / Other (% of ABR) 67% / 33% / <1% Contractual Rent Escalation: CPI-linked / Fixed / Other (2) 48% / 49% / 3% WALT 12.2 years Occupancy 98.5% Investment Grade Tenants (% of ABR) 22.7% Top 10 Tenant Concentration (% of ABR) 18.1%

9 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 Tenant Description Number of Properties ABR ($ millions) WALT (years) % of Total 1 Net lease self-storage properties in the U.S. leased to publicly traded self-storage REIT 43 43 23.2 2.6% 2 Pharmaceutical R&D and manufacturing properties in the Greater Toronto Area leased to generic drug manufacturer (2) 11 34 16.8 2.1% 3 Health and fitness facilities in the U.S. leased to premium athletic club operator 12 32 7.4 2.0% 4 Manufacturing and industrial outdoor storage (IOS) facilities in the U.S. leased to producer and supplier of mulch and garden products 43 29 19.9 1.8% 5 Business-to-business retail stores in Italy leased to cash and carry wholesaler 18 29 4.8 1.7% 6 Grocery stores and one warehouse in Croatia leased to European food retailer 19 28 7.8 1.7% 7 Retail properties in Poland leased to German DIY retailer 26 27 7.7 1.6% 8 Distribution facilities and retail properties in Lithuania, Estonia and Latvia leased to European DIY retailer 20 26 5.7 1.6% 9 Industrial and warehouse facilities in Germany, Italy and Spain leased to global manufacturer of premium packaging and labels 16 25 17.4 1.5% 10 Automotive parts manufacturing properties in the U.S., Canada and Mexico leased to OEM supplier (formerly ABC Technologies) (2)(3) 19 25 18.6 1.5% Top 10 Total 227 $297 13.4 yrs 18.1% One of the lowest Top 10 and 20 concentrations among the net lease peer group Top 25 Net Lease Tenants (1) 1. Portfolio information reflects pro rata ownership of real estate assets (excluding operating properties) as of June 30, 2026. 2. ABR from these properties is denominated in U.S. dollars. 3. Of the 19 properties leased to the tenant, eight are located in Canada, six are located in Mexico and five are located in the United States.

10 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 Tenant Description Number of Properties ABR ($ millions) WALT (years) % of Total 11 K-12 private schools in Orlando, Miami and Houston leased to international day and boarding school operator 3 24 18.2 1.5% 12 Grocery stores and warehouses in Spain leased to Spanish food retailer 63 24 9.7 1.4% 13 Manufacturing facilities in the U.S. leased to international producer and supplier of packaging solutions 8 21 12.3 1.3% 14 Industrial facilities in the U.S. and Canada leased to concrete and building products manufacturer 27 21 17.0 1.3% 15 Distribution facilities in the U.S. leased to automotive retailer 28 20 6.6 1.2% 16 Auto dealerships in the United Kingdom leased to automotive retailer 46 19 12.3 1.1% 17 Retail properties in the U.S. leased to discount retailer 129 18 13.0 1.1% 18 Production, packaging and distribution facilities in the U.S. leased to North American contract food manufacturer (formerly Hearthside) 18 18 16.1 1.1% 19 Logistics and cold storage warehouse facilities in the Netherlands leased to European supermarket chain 4 15 7.2 0.9% 20 Distribution facilities in Denmark leased to Danish freight company 15 15 10.6 0.9% Top 20 Total 568 $492 13.1 yrs 29.9% 21 Retail properties in Germany leased to German DIY retailer 16 15 14.7 0.9% 22 Retail properties in the Netherlands leased to European DIY retailer 36 15 7.1 0.9% 23 Auto dealerships primarily in Vancouver with additional locations in Calgary and Edmonton leased to automotive retailer 14 14 24.8 0.8% 24 Private medical schools in Colorado, Montana and Utah leased to for-profit medical school operator 5 13 24.9 0.8% 25 Distribution facilities in Poland leased to European logistics company 8 13 14.6 0.8% Top 25 Total 647 $561 13.5 yrs 34.1% Top 25 Net Lease Tenants (continued) (1) 1. Portfolio information reflects pro rata ownership of real estate assets (excluding operating properties) as of June 30, 2026.

11 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 39% 25% 22% 14% Property Type Diversification (1) Property Type % of Total United States Europe Mexico & Canada Other (2) Industrial 38.7% 26.2% 7.6% 4.9% – Warehouse 25.1% 14.4% 10.4% 0.3% – Retail (3) 22.3% 8.4% 13.1% 0.8% – Other (4) 13.9% 11.7% 1.7% 0.1% 0.4% Total 100.0% 60.7% 32.7% 6.2% 0.4% 64% Industrial / Warehouse 1. Portfolio information reflects pro rata ownership of real estate assets (excluding operating properties) as of June 30, 2026. 2. Represents Mauritius. 3. Includes automotive dealerships. 4. Includes education facility, specialty, self-storage (net lease), laboratory, research and development, office, hotel (net lease) and land. Property Type by Region% of Total Portfolio ABR

12 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 Industry Type (2) % of Total United States Europe Mexico & Canada Other (3) Packaged Foods & Meats 9.0% 6.7% 2.2% – – Food Retail 8.5% 0.4% 8.2% – – Home Improvement Retail 6.2% 0.7% 5.5% – – Automotive Retail 5.8% 2.4% 2.5% 0.8% – Auto Parts & Equipment 4.9% 2.5% 1.2% 1.3% – Air Freight & Logistics 4.1% 0.2% 3.9% – – Education Services 3.8% 3.8% – – – Pharmaceuticals 3.0% 0.8% – 2.2% – Industrial Machinery 3.0% 1.7% 1.0% 0.3% – Leisure Facilities 2.7% 2.7% – – – Self-Storage REITs 2.6% 2.6% – – – Metal, Glass & Plastic Containers 2.4% 2.0% 0.3% 0.2% – Trading Companies & Distributors 2.3% 2.2% 0.2% – – Building Products 2.0% 1.9% 0.1% 0.1% – Environmental & Facilities Services 2.0% 2.0% – – – Paper Products 1.9% 0.4% 1.5% – – Other Specialty Retail 1.7% 1.7% – – – Specialty Chemicals 1.7% 1.3% – 0.4% – Construction Materials 1.5% 1.4% – 0.1% – Diversified Support Services 1.4% 1.0% 0.4% – – Construction Machinery 1.3% 0.3% 0.5% 0.5% – Food Distributors 1.3% 1.3% – – – Consumer Staples Merchandise Retail 1.2% 1.1% 0.1% – – Commodity Chemicals 1.0% 1.0% – 0.0% – Diversified Metals 1.0% 0.4% 0.6% – – Other (62 industries, each <1% ABR) 23.7% 18.3% 4.6% 0.4% 0.4% Total 100.0% 60.7% 32.7% 6.2% 0.4% Tenant Industry Diversification (1) 1. Portfolio information reflects pro rata ownership of real estate assets (excluding operating properties) as of June 30, 2026. 2. Industry classification is based on the Global Industry Classification Standard (GICS) framework. 3. Includes Mauritius. 9% 9% 6% 6% 5% 4% 4% 3% 3%3%3% 2% 2% 2% 2% 2% 2% 2% 1% 1% 1% 1% 1% 1% 1% 24% 62 industries, each <1% of ABR % of Total Portfolio ABR Industry Type by Region

13 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 North America, 67% $1.1B United States, 61% $998MM Canada (4), 4% $74MM Mexico (3), 2% $28MM Europe, 33% $537MM Other (2), <1% $6MM 1. Portfolio information reflects pro rata ownership of real estate assets (excluding operating properties) as of June 30, 2026. 2. Represents Mauritius (0.4%). 3. All ABR from Mexico-based properties denominated in USD. 4. $50.9MM (69%) of ABR from Canada-based properties denominated in USD with the balance in CAD. W. P. Carey has been investing internationally for over 25 years, primarily in Europe Geographic Diversification (1) Through our financing and hedging strategies, we’ve significantly mitigated currency risk through a combination of over- weighting our debt in foreign currencies and utilizing contractual cash flow hedges.

14 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 Uncapped CPI 30% Fixed 49% Capped CPI 18% Other (2) 3% CPI-linked 48% None <1% 1. Portfolio information reflects pro rata ownership of real estate assets (excluding operating properties) as of June 30, 2026. 2. Represents leases attributable to percentage rent (i.e., participation in the gross revenues of the tenant above a stated level). 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. Over 99% of ABR comes from leases with contractual rent increases, including 48% linked to CPI Internal Growth from Contractual Rent Increases (1)

15 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 4.2% 4.1% 3.1% 2.9% 2.8% 2.6% 2.4% 2.3% 2.4% 2.4% 2.4% 2.6% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 1. Contractual same store portfolio includes leases that were continuously in place during the period from June 30, 2025 to June 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 June 30, 2026. Contractual same store growth of 2.6% (1) Same Store ABR Growth

16 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 1.5% 2.5% 4.2% 4.0% 2.5% 4.8% 4.1% 5.4% 6.7% 4.8% 4.3% 4.6% 1.9% 4.6% 44.1% 0% 10% 20% 30% 40% 50% 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 Thereafter 1. Portfolio information reflects pro rata ownership of real estate assets (excluding operating properties) as of June 30, 2026. 2. Assumes tenants do not exercise any renewal or purchase options. Weighted-average lease term of 12.2 years Lease Expirations and Average Lease Term (1) Lease Expirations (% ABR) (2)

17 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 Historical Occupancy (1) 1. Net lease properties only. Historical data through 2021 includes properties owned by W. P. Carey or non-traded REIT funds managed (and subsequently acquired) by W. P. Carey. 2. Represents occupancy for each completed year at December 31. Otherwise, occupancy is shown for the most recent quarter. Stable occupancy maintained during the aftermath of the global financial crisis and throughout the COVID-19 pandemic 97.3% 98.4% 98.8% 99.0% 99.2% 99.3% 99.8% 98.3% 98.9% 98.5% 98.5% 98.8% 98.1% 98.6% 98.0% 98.5% 0% 20% 40% 60% 80% 100% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2Q26 Occupancy (% Square Feet) (2)

18 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 Recent investment activity has been focused primarily on mission critical industrial and warehouse properties and essential retail Recent Acquisitions Purchase Price: $202 million Transaction Type: Sale-leaseback Property Type: Warehouse Location: Various, Poland Gross Square Footage: 1,857,837 Lease Term: 15-year lease Rent Escalation: Eurozone CPI Raben Group January / February 2026 (8 properties) Dollar General * January / June 2026 (3 properties) Purchase Price: $6 million Transaction Type: Acquisition Property Type: Retail Location: Las Vegas and Bloomfield, NM Gross Square Footage: 31,748 Lease Term: 15-year lease Rent Escalation: Fixed Recent Acquisitions – Case Studies GardenCore May 2026 (43 properties) Purchase Price: $400 million Transaction Type: Sale-leaseback Property Type: Industrial Location: Various, US Gross Square Footage: 1,982,032 Lease Term: 20-year lease Rent Escalation: Fixed * Follow-on to $241 million of Dollar General acquisitions in 2024-2025

19 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 Capital investments have become a more meaningful part of our investment activity and allow us to pursue follow-on opportunities with existing tenants Recent Capital Investments Investment: $21 million build-to-suit Property Type: Industrial Location: Surprise, AZ Gross Square Footage: 131,753 Lease Term: 20-year lease Rent Escalation: Fixed Janus International Completed February 2026 Investment: $18 million build-to-suit Property Type: Warehouse Location: Oskarshamn, Sweden Gross Square Footage: 204,645 Lease Term: 15-year lease Rent Escalation: Swedish CPI Scania Completed March 2026 Capital Investments – Case Studies Investment: $10 million expansion Property Type: Specialty (Inpatient Rehab Facility) Location: Overland Park, KS Gross Square Footage: 7,398 Lease Term: 20-year lease Rent Escalation: Fixed NewEra Nobis Completed June 2026

21 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 Capitalization ($MM) 6/30/26 Total Equity (2) $16,288 Pro Rata Net Debt Senior Unsecured Notes USD (3) 2,750 Senior Unsecured Notes EUR 4,700 Mortgage Debt, pro rata USD 70 Mortgage Debt, pro rata (EUR $128 / Other $20) 148 Unsecured Revolving Credit Facility USD 98 Unsecured Revolving Credit Facility (EUR $18 / Other $0) 18 Unsecured Term Loans (CAD $244 / EUR $570 / GBP $357) 1,171 Total Pro Rata Debt $8,955 Less: Cash and Cash Equivalents (164) Total Net Debt $8,791 Enterprise Value $25,080 Total Capitalization $25,243 Leverage and Debt Metrics Net Debt / Adjusted EBITDA (annualized) (4)(5) 5.5x Net Debt / Adjusted EBITDA (annualized) – inclusive of unsettled forward equity (4)(5)(6) 5.1x Net Debt / Enterprise Value (2)(4) 35.1% Total Consolidated Debt / Gross Assets (7) 42.6% Weighted Average Interest Rate (three months ended Jun 30, 2026) 3.2% Weighted Average Debt Maturity 4.5 years Capitalization (%) • Size: Large, well-capitalized balance sheet with ~$25B in total enterprise value • Credit Rating: Investment grade rated Baa1 by Moody’s and BBB+ by S&P • Liquidity: $2.7B at quarter end including revolver availability, unsettled forward equity and cash on hand • Leverage: Maintain conservative leverage, targeting mid-to-high 5s Net Debt to EBITDA • Capital Markets: Demonstrated strong access to capital markets – Forward Equity: Raised $392MM via ATM during the second quarter at a gross price of $74.32 per share, with approximately $691MM of forward equity available for settlement at quarter end – U.S. Bond Issuances: $350MM of 5.200% Senior Unsecured Notes due September 2036 issued July 2026 and $400MM of 4.650% Senior Unsecured Notes due July 2030 issued July 2025 – Eurobond Issuances: €500MM of 3.250% Senior Unsecured Notes due October 2031 and €500MM of 3.750% Senior Unsecured Notes due May 2035 both issued in February 2026 – CAD Term Loan: Replaced existing €215MM Term Loan due 2028 with a ~C$347MM Term Loan due 2028 with options to extend to 2029 at an all-in rate of 3.1%, inclusive of credit spread – EUR Term Loan: Recast €500MM term loan in 2025 extending maturity to 2029, with options to extend to 2030 and swapped to a fixed rate of 2.8%, inclusive of credit spread Balance Sheet Highlights 65% 30% 5% 1% Equity (2) Senior Unsecured Notes (3) Unsecured Revolving Credit Facility / Term Loans Mortgage Debt (pro rata) Balance Sheet Overview (1) 1. Amounts may not sum to totals due to rounding. 2. Based on a closing stock price of $71.50 on June 30, 2026 and 227,807,251 common shares outstanding as of June 30, 2026. 3. In July 2026, we issued $350 million 5.20% senior notes due 2036 and subsequently redeemed the $350 million 4.25% senior notes due 2026. Metrics are not pro forma for these transactions. 4. Net debt to Adjusted EBITDA and net debt to enterprise value are based on pro rata debt less consolidated cash and cash equivalents. 5. Adjusted EBITDA represents 2Q26 Adjusted EBITDA (annualized), as reported in the Second Quarter 2026 Supplemental Information included in the Form 8-K filed with the SEC on July 28, 2026. 6. Additionally, reflects the impact of 9,914,031 shares of unsettled forward equity, as if they had been settled for cash, for total expected net proceeds of approximately $690.7 million as of June 30, 2026. 7. Gross assets represent consolidated total assets before accumulated depreciation on real estate. Gross assets are net of accumulated amortization on in-place lease and above-market rent intangible assets.

22 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 % of Total (5) 3.9% 6.7% 13.9% 13.3% 11.1% 13.0% 14.7% 4.8% 12.1% 6.4% -- Interest Rate (5) 4.3% 2.2% 2.9% 3.3% 2.4% 3.0% 3.7% 2.3% 4.3% 3.8% -- $ M M 1. Reflects amount due at maturity, excluding unamortized discount and unamortized deferred financing costs. 2. Reflects pro rata balloon payments due at maturity. W. P. Carey has one fully amortizing mortgage due in 2031 ($1.9MM). 3. Includes amounts drawn under the credit facility as of June 30, 2026. 4. Based on total pro rata debt outstanding as of June 30, 2026. Includes debt which is swapped to fixed-rate. 5. Reflects the weighted average percentage of debt outstanding and the weighted average interest rate for each year based on the total outstanding balance as of June 30, 2026 (not pro forma for July 2026 bond issuance of 2036 notes or redemption of 2026 notes). 28 72 11 77 2 570 570 171 598 570 968 684 570 350 325 400 500 350 425 400 350 601 570 116 $350 $598 $1,243 $1,193 $998 $1,147 $1,318 $427 $1,084 $570 $350 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Mortgage Debt Unsecured Bonds (EUR) Unsecured Bonds (USD) Unsecured Term Loans Unsecured Revolving Credit Facility(2) (3) Debt Maturity Schedule Principal at Maturity (1) 95% Fixed Rate Debt (4) Note: Fully amortizing mortgages is Spear Group $350 million 4.25% senior notes due October 2026 redeemed July 2026 In July 2026 we issued $350 million 5.20% senior notes due 2036

23 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 Metric Covenant June 30, 2026 Total Leverage Total Debt / Total Assets ≤ 60% 40.0% Secured Debt Leverage Secured Debt / Total Assets ≤ 40% 0.9% Fixed Charge Coverage Consolidated EBITDA / Annual Debt Service Charge ≥ 1.5x 5.0x Maintenance of Unencumbered Asset Value Unencumbered Assets / Total Unsecured Debt ≥ 150% 245.1% 1. This is a summary of the key financial covenants for our Senior Unsecured Notes, along with 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 governing the Senior Unsecured Notes. 2. As of June 30, 2026, our Senior Unsecured Notes consisted of the following note issuances: (i) $350 million 4.25% senior unsecured notes due 2026, (ii) €500 million 2.125% senior unsecured notes due 2027, (iii) €500 million 1.35% senior unsecured notes due 2028, (iv) $325 million 3.85% senior unsecured notes due 2029, (v) €525 million 0.95% senior unsecured notes due 2030, (vi) $400 million 4.65% senior unsecured notes due 2030, (vii) $500 million 2.40% senior unsecured notes due 2031, (viii) €500 million 3.25% senior unsecured notes due 2031, (ix) $350 million 2.45% senior unsecured notes due 2032, (x) €650 million 4.250% senior unsecured notes due 2032, (xi) $425 million 2.25% senior unsecured notes due 2033, (xii) $400 million 5.375% senior unsecured notes due 2034, (xiii) €600 million 3.70% senior unsecured notes due 2034 and (xiv) €500 million 3.75% senior unsecured notes due 2035. Excludes the €150 million 3.41% senior unsecured notes due 2029 and €200 million 3.70% senior unsecured notes due 2032 issued in the September 2022 private placement offering. 3. In July 2026, we issued $350 million 5.20% senior notes due 2036 and subsequently redeemed the $350 million 4.25% senior notes due 2026. Metrics are not pro forma for these transactions. Investment grade balance sheet rated Baa1 (stable) by Moody’s and BBB+ (stable) by S&P Senior Unsecured Notes (2)(3) Unsecured Bond Covenants (1)

25 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 A continued commitment to Doing Good While Doing Well® as detailed in our 2025 Corporate Responsibility Report Corporate Responsibility Recent highlights include: 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 real estate assets (excluding operating properties) as of June 30, 2026. 3. As a percentage of square footage. Environmental Social Governance Environmental6.4M sq. ft. of green-certified buildings (1)(2) 42% of portfolio under a green lease (2)(3) Our Portfolio: ▪ 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 New York for the 3rd consecutive year ▪ 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 ▪ 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

26 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 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. All data presented herein is as of June 30, 2026 unless otherwise noted. Amounts may not sum to totals due to rounding. Past performance does not guarantee future results. Cautionary Statement Concerning Forward-Looking Statements

27 WPC Brand Colors and Order R:0 G:124 B:186 | Hex# 007CBA R:0 G:54 B:102 | Hex# 003666 R:0 G:135 B:85 | Hex# 008755 R:128 G:237 B:221 | Hex# 80BEDD R:128 G:155 B:179 | Hex# 809BB3 R:255 G:204 B:0 | Hex# FFCC00 R:85 G:86 B:90 | Hex# 55565A R:51 G:150 B:200 | Hex# 3396C8 R:179 G:216 B:234 | Hex# B3D8EA R:204 G:229 B:241 | Hex# CCE5F1 R:51 G:94 B:133 | Hex# 335E85 R:179 G:195 B:209 | Hex# B3C3D1 R:204 G:215 B:224 | Hex# CCD7E0 R:51 G:159 B:119 | Hex# 339F77 R:128 G:195 B:170 | Hex# 80C3AA R:179 G:219 B:204 | Hex# B3DBCC R:204 G:231 B:221 | Hex# CCE7DD R:119 G:120 B:123 | Hex# 77787B R:170 G:171 B:173 | Hex# AAABAD R:204 G:204 B:206 | Hex# CCCCCE R:221 G:221 B:222 | Hex# DDDDDE R:208 G:145 B:41 | Hex# D09129 R:255 G:153 B:0 | Hex# FF9900 R:218 G:96 B:39 | Hex# DA6027 R:255 G:51 B:51 | Hex# FF3333 R:172 G:30 B:45 | Hex# AC1E2D R:188 G:153 B:93 | Hex# BC995D R:142 G:85 B:47 | Hex# 8E552F R:119 G:115 B:181 | Hex# 7773B5 R:90 G:44 B:163 | Hex# 5A2C3F R:187 G:65 B:151 | Hex# BB4197 R:130 G:27 B:95 | Hex# 821B5F 1 2 3 7 8 4 9 10 11 5 12 13 14 15 16 17 18 19 20 21 6 22 23 24 27 28 29 30 31 32 25 26 Non-GAAP Financial Disclosures 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 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 June 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. Disclosures The following non-GAAP financial measures are used in this presentation

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W. P. Carey (NYSE: WPC) raises 2026 AFFO guidance after Q2 2026 earnings

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