Net Lease Portfolio Highlights Significant Activity During the Quarter: * Portfolio grew to **$2.7B** * Acquired **16** properties (**10** tenants) for **$179M** at a **7.4%** cap rate and a **16.2-year** weighted average lease term * Entered into a new revolving warehouse credit facility totalling **$1.0B** (**$500M** committed) with a **5-year** term, at **S+1.55%** and an advance rate of up to **70%** * After quarter end, amended an existing **$600M** credit facility reducing spread by **60 bps** to **S+1.90%** and eliminating SOFR floor

Portfolio Highlights		Geographic Diversification
Portfolio Carrying Value	$2.7B	Top 10 States (% of ABR)
Owned Properties	527	State	%	# of Properties
Square Footage	16.9M	Illinois	9.3%	29
States	44	Ohio	8.7%	68
Weighted Avg. Remaining Lease Term (Years) Annualized Cash Base Rent ("ABR") Industries Tenants Avg. Annual Rent Increases^(a) Master Leases (% of ABR) Top 10 Tenant (% of ABR)	16.8 $187M 72 123 2.31% 57.2% 27.9% 88.0%	Wisconsin	7.7%	27
		Pennsylvania	7.6%	27
		Virginia	6.9%	9
		Texas	6.2%	33
		Kansas	4.1%	21
		Washington	3.9%	3
		Arizona	3.7%	8
		Florida	3.3%	23
Top 10 Major Industries (% of ABR)		Total	61%	248

(a) Assumes CPI increase of 2.0% or greater STARWOOD PROPERTY TRUST 24