On January 22, 2023, Realty Income Corporation entered into an Amended and Restated Term Loan Agreement, among the Company, as Borrower, the lenders party thereto, Wells Fargo Bank, National Association, as Administrative Agent, and the other parties named therein and an Amended and Restated Term Loan Agreement (the ?$500 Million Term Loan Agreement? and, together with the $800 Million Term Loan Agreement, the ?Term Loan Agreements?), among the Company, as Borrower, the lenders party thereto, Wells Fargo Bank, National Association, as Administrative Agent, and the other parties named therein. The Term Loan Agreements became effective on January 23, 2023 concurrently with the consummation of the Merger.T he $800 Million Term Loan Agreement provides for the assumption by the Company of Spirit OP?s existing $300 million Dollar denominated term loan due August 22, 2025 (the ?Tranche A Term Loan?) and Spirit OPs, existing $500 million Dollar denominated term loan due August 20, 2027 (the ?Tranche B Term Loan?), and the amendment of certain of the terms of the Tranche A Term Loans and Tranche B Term Loans.

The Tranche A Term Loan and the Tranche B Term Loan were originally incurred by Spirit OP pursuant to a Term Loan Agreement, dated as of August 22, 2022, by and among, Spirit OP (the ?Spirit $800 Million Term Loan Agreement?), as borrower, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent. Upon the effectiveness of the $800 Million Term Loan Agreement, Spirit OP and Spirit were released from all of their obligations under the Spirit $800 Million Term Loan Agreement and the Tranche A Term Loan and Tranche B Term Loan. The $500 Million Term Loan Agreement provides for the assumption by the Company of Spirit OP?s existing $500 million Dollar denominated term loan due June 16, 2025 (the ?Tranche C Term Loan?

and, together with the Tranche A Term Loan and the Tranche B Term Loan, the ?Assumed Term Loans?), and the amendment of certain of the terms of the Tranche C Term Loans. The Tranche C Term Loan was originally incurred by Spirit OP pursuant to a Term Loan Agreement, dated as of November 17, 2022, by and among, Spirit OP (the ?Spirit $500 Million Term Loan Agreement?), as borrower, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent. Upon the effectiveness of the $500 Million Term Loan Agreement, Spirit OP and Spirit were released from all of their obligations under the Spirit $500 Million Term Loan Agreement and the Tranche C Term Loan.

After giving effect to the assumption and amendment of the Assumed Term Loans by the Company pursuant to the Term Loan Agreements, the Tranche A Term Loan will mature on August 22, 2025, the Tranche B Term Loan will mature on August 20, 2027 and the Tranche C Term Loan will mature on June 16, 2025. The Assumed Term Loans bear interest at a benchmark rate based on SOFR (the secured overnight financing rate as administered by the Federal Reserve Bank of New York), as defined and subject to certain adjustments specified in the Term Loan Agreements, plus an Applicable Margin, as defined in the Term Loan Agreements, based on the Company?s credit ratings. The current Applicable Margin for the Assumed Term Loans equals 0.800% per annum.