Form 8-K

8-K — W. P. Carey Inc.

Accession: 0001025378-26-000129

Filed: 2026-10-27

Period: 2026-10-27

CIK: 0001025378

SIC: 6798 (REAL ESTATE INVESTMENT TRUSTS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — wpc-20261027.htm (Primary)

EX-99.1 (wpc2026q38-kerexh991.htm)

EX-99.2 (wpc2026q3supplementalexh992.htm)

EX-99.3 (investorpresentation3q26.htm)

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8-K

8-K (Primary)

Filename: wpc-20261027.htm · Sequence: 1

wpc-20261027

0001025378false00010253782026-10-272026-10-27

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): October 27, 2026

W. P. Carey Inc.

(Exact name of registrant as specified in its charter)

Maryland 001-13779 45-4549771

(State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

One Manhattan West, 395 9th Avenue, 58th Floor

New York, New York 10001

(Address of principal executive offices) (Zip Code)

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

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

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

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, $0.001 Par Value WPC New York Stock Exchange

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

Emerging growth company ☐

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

Item 2.02 Results of Operations and Financial Condition.

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

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

Item 7.01 Regulation FD Disclosure.

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

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

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

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description

99.1

Earnings release of the Company for the quarter ended September 30, 2026.

99.2

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

99.3

Investor presentation by the Company.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

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

W. P. Carey Inc.

Date: October 27, 2026 By: /s/ ToniAnn Sanzone

ToniAnn Sanzone

Chief Financial Officer

EX-99.1

EX-99.1

Filename: wpc2026q38-kerexh991.htm · Sequence: 2

Document

Exhibit 99.1

W. P. Carey Announces Third Quarter 2026 Financial Results

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

Financial Highlights

2026 Third Quarter

Net income attributable to W. P. Carey (millions) $141.0

Diluted earnings per share $0.61

AFFO (millions) $308.2

AFFO per diluted share $1.33

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

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

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

Real Estate Portfolio

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

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

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

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

Balance Sheet and Capitalization

•Equity –

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

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

•Debt –

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

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

MANAGEMENT COMMENTARY

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

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

QUARTERLY FINANCIAL RESULTS

Revenues

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

◦Lease revenues increased due primarily to net investment activity.

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

Net Income Attributable to W. P. Carey

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

Adjusted Funds from Operations (AFFO)

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

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

Dividend

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

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

AFFO GUIDANCE

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

Updated

2026 Guidance Prior

2026 Guidance

AFFO per diluted share

$5.23 – $5.29

$5.19 – $5.27

Investment volume

$1.8 – $2.1 billion

$1.7 – $2.1 billion

Disposition volume $350 – $450 million $350 – $550 million

General and administrative expenses $104 – $106 million $103 – $106 million

Property expenses, excluding reimbursable tenant costs

$54 – $57 million

$54 – $58 million

Tax expense (on an AFFO basis) $40 – $43 million $43 – $47 million

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

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

REAL ESTATE

Investments

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

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

Dispositions

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

Contractual Same-Store Rent Growth

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

Composition

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

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

BALANCE SHEET AND CAPITALIZATION

Liquidity

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

Forward Equity

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

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

Senior Unsecured Notes

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

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

* * * * *

Supplemental Information

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

* * * * *

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

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

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

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

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

* * * * *

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

W. P. Carey Inc.

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

www.wpcarey.com

* * * * *

Cautionary Statement Concerning Forward-Looking Statements

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

Institutional Investors:

Peter Sands

1 (212) 492-1110

institutionalir@wpcarey.com

Individual Investors:

W. P. Carey Inc.

1 (212) 492-8920

ir@wpcarey.com

Press Contact:

Anna McGrath

1 (212) 492-1166

amcgrath@wpcarey.com

* * * * *

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

W. P. CAREY INC.

Consolidated Balance Sheets (Unaudited)

(in thousands, except share and per share amounts)

September 30, 2026 December 31, 2025

Assets

Investments in real estate:

Land, buildings and improvements — net lease and other $ 15,356,587  $ 14,451,306

Land, buildings and improvements — operating properties 182,180  286,079

Net investments in finance leases and loans receivable 1,176,873  1,171,886

In-place lease intangible assets and other

2,607,076  2,466,199

Above-market rent intangible assets

652,631  668,707

Investments in real estate 19,975,347  19,044,177

Accumulated depreciation and amortization (a)

(3,772,799) (3,578,330)

Assets held for sale, net 8,173  3,327

Net investments in real estate 16,210,721  15,469,174

Equity method investments 279,024  310,178

Cash and cash equivalents 143,390  155,329

Other assets, net 1,048,175  1,068,480

Goodwill 982,118  987,071

Total assets $ 18,663,428  $ 17,990,232

Liabilities and Equity

Debt:

Senior unsecured notes, net $ 7,357,845  $ 6,950,261

Unsecured term loans, net 1,165,910  1,196,366

Unsecured revolving credit facility 67,388  435,417

Non-recourse mortgages, net 192,374  140,646

Debt, net 8,783,517  8,722,690

Accounts payable, accrued expenses and other liabilities 622,084  670,038

Below-market rent and other intangible liabilities, net

94,182  104,055

Deferred income taxes 158,816  151,820

Dividends payable 223,889  207,487

Total liabilities 9,882,488  9,856,090

Preferred stock, $0.001 par value, 50,000,000 shares authorized; none issued

—  —

Common stock, $0.001 par value, 450,000,000 shares authorized; 230,118,492 and 219,145,876 shares, respectively, issued and outstanding

230  219

Additional paid-in capital 12,578,438  11,830,737

Distributions in excess of accumulated earnings (3,684,960) (3,539,592)

Deferred compensation obligation 100,948  80,239

Accumulated other comprehensive loss (230,077) (253,346)

Total stockholders’ equity 8,764,579  8,118,257

Noncontrolling interests 16,361  15,885

Total equity 8,780,940  8,134,142

Total liabilities and equity $ 18,663,428  $ 17,990,232

________

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

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

W. P. CAREY INC.

Quarterly Consolidated Statements of Income (Unaudited)

(in thousands, except share and per share amounts)

Three Months Ended

September 30, 2026 June 30, 2026 September 30, 2025

Revenues

Real Estate:

Lease revenues $ 422,499  $ 409,661  $ 372,087

Income from finance leases and loans receivable 26,954  27,162  26,498

Operating property revenues 12,247  11,638  26,771

Other lease-related income 5,726  11,209  3,660

467,426  459,670  429,016

Investment Management:

Other advisory income and reimbursements 500  1,000  1,069

Asset management revenue 375  394  1,218

875  1,394  2,287

468,301  461,064  431,303

Operating Expenses

Depreciation and amortization 129,137  134,378  125,586

General and administrative 25,317  25,934  23,656

Reimbursable tenant costs 17,665  19,472  14,562

Property expenses, excluding reimbursable tenant costs 12,002  15,206  14,637

Stock-based compensation expense 9,968  13,909  11,153

Operating property expenses 9,216  8,603  15,049

Impairment charges — real estate 6,127  79,421  19,474

Merger and other expenses 540  613  1,021

209,972  297,536  225,138

Other Income and Expenses

Interest expense (80,388) (78,979) (75,226)

Other gains and (losses) (a)

(41,566) 48,558  (31,011)

Gain on sale of real estate, net 6,960  5,819  44,401

Non-operating income (b)

4,724  4,245  3,030

Earnings from equity method investments 3,587  55,579  2,361

(106,683) 35,222  (56,445)

Income before income taxes 151,646  198,750  149,720

Provision for income taxes (10,516) (13,091) (8,495)

Net Income 141,130  185,659  141,225

Net income attributable to noncontrolling interests (180) (270) (229)

Net Income Attributable to W. P. Carey $ 140,950  $ 185,389  $ 140,996

Basic Earnings Per Share $ 0.61  $ 0.82  $ 0.64

Diluted Earnings Per Share $ 0.61  $ 0.82  $ 0.64

Weighted-Average Shares Outstanding

Basic 230,835,841  225,971,719  220,562,909

Diluted 231,701,927  227,215,203  221,087,833

Dividends Declared Per Share $ 0.950  $ 0.940  $ 0.910

__________

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

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

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

W. P. CAREY INC.

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

(in thousands, except share and per share amounts)

Nine Months Ended September 30,

2026 2025

Revenues

Real Estate:

Lease revenues $ 1,234,991  $ 1,090,050

Income from finance leases and loans receivable 81,802  64,232

Operating property revenues 35,935  94,152

Other lease-related income 27,387  16,424

1,380,115  1,264,858

Investment Management:

Other advisory income and reimbursements 2,500  3,208

Asset management and other revenue 1,259  3,872

3,759  7,080

1,383,874  1,271,938

Operating Expenses

Depreciation and amortization 399,698  375,788

Impairment charges — real estate 125,556  30,677

General and administrative 78,599  74,773

Reimbursable tenant costs 56,829  49,372

Property expenses, excluding reimbursable tenant costs 41,760  39,966

Stock-based compensation expense 31,318  31,244

Operating property expenses 26,513  48,314

Merger and other expenses 2,333  1,769

762,606  651,903

Other Income and Expenses

Interest expense (237,827) (215,825)

Gain on sale of real estate, net 66,920  141,002

Earnings from equity method investments 63,709  13,900

Other gains and (losses) 13,783  (221,976)

Non-operating income 13,673  14,435

(79,742) (268,464)

Income before income taxes 541,526  351,571

Provision for income taxes (38,241) (33,218)

Net Income 503,285  318,353

Net income attributable to noncontrolling interests (644) (313)

Net Income Attributable to W. P. Carey $ 502,641  $ 318,040

Basic Earnings Per Share $ 2.23  $ 1.44

Diluted Earnings Per Share $ 2.21  $ 1.44

Weighted-Average Shares Outstanding

Basic 225,846,771  220,511,825

Diluted 227,059,734  221,033,628

Dividends Declared Per Share $ 2.820  $ 2.700

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

W. P. CAREY INC.

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

(in thousands, except share and per share amounts)

Three Months Ended

September 30, 2026 June 30, 2026 September 30, 2025

Net income attributable to W. P. Carey $ 140,950  $ 185,389  $ 140,996

Adjustments:

Depreciation and amortization of real property 128,394  133,663  124,906

Gain on sale of real estate, net (6,960) (5,819) (44,401)

Impairment charges — real estate 6,127  79,421  19,474

Proportionate share of adjustments to earnings from equity method investments (a)

644  (50,133) 2,271

Proportionate share of adjustments for noncontrolling interests (b)

(23) (26) (82)

Total adjustments 128,182  157,106  102,168

FFO (as defined by NAREIT) Attributable to W. P. Carey (c)

269,132  342,495  243,164

Adjustments:

Other (gains) and losses (d)

41,566  (48,558) 31,011

Straight-line and other leasing and financing adjustments (23,239) (15,459) (20,424)

Stock-based compensation 9,968  13,909  11,153

Amortization of deferred financing costs 5,317  5,292  4,874

Above- and below-market rent intangible lease amortization, net 3,738  3,706  4,363

Tax expense (benefit) – deferred and other 606  2,617  (1,215)

Other amortization and non-cash items 573  548  587

Merger and other expenses 540  613  1,021

Proportionate share of adjustments to earnings from equity method investments (a)

39  303  2,194

Proportionate share of adjustments for noncontrolling interests (b)

(5) (22) (99)

Total adjustments 39,103  (37,051) 33,465

AFFO Attributable to W. P. Carey (c)

$ 308,235  $ 305,444  $ 276,629

Summary

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

$ 269,132  $ 342,495  $ 243,164

FFO (as defined by NAREIT) attributable to W. P. Carey per diluted share (c)

$ 1.16  $ 1.51  $ 1.10

AFFO attributable to W. P. Carey (c)

$ 308,235  $ 305,444  $ 276,629

AFFO attributable to W. P. Carey per diluted share (c)

$ 1.33  $ 1.34  $ 1.25

Diluted weighted-average shares outstanding 231,701,927  227,215,203  221,087,833

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

W. P. CAREY INC.

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

(in thousands, except share and per share amounts)

Nine Months Ended September 30,

2026 2025

Net income attributable to W. P. Carey $ 502,641  $ 318,040

Adjustments:

Depreciation and amortization of real property 397,537  373,773

Impairment charges — real estate 125,556  30,677

Gain on sale of real estate, net (66,920) (141,002)

Proportionate share of adjustments to earnings from equity method investments (a)

(47,226) 6,145

Proportionate share of adjustments for noncontrolling interests (b)

(74) (242)

Total adjustments 408,873  269,351

FFO (as defined by NAREIT) Attributable to W. P. Carey (c)

911,514  587,391

Adjustments:

Straight-line and other leasing and financing adjustments (62,876) (54,831)

Stock-based compensation 31,318  31,244

Amortization of deferred financing costs 15,748  14,284

Other (gains) and losses (13,783) 221,976

Above- and below-market rent intangible lease amortization, net 9,942  10,547

Tax expense – deferred and other 5,950  823

Merger and other expenses 2,333  1,769

Other amortization and non-cash items 1,714  1,726

Proportionate share of adjustments to earnings from equity method investments (a)

555  2,417

Proportionate share of adjustments for noncontrolling interests (b)

(79) (227)

Total adjustments (9,178) 229,728

AFFO Attributable to W. P. Carey (c)

$ 902,336  $ 817,119

Summary

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

$ 911,514  $ 587,391

FFO (as defined by NAREIT) attributable to W. P. Carey per diluted share (c)

$ 4.01  $ 2.66

AFFO attributable to W. P. Carey (c)

$ 902,336  $ 817,119

AFFO attributable to W. P. Carey per diluted share (c)

$ 3.97  $ 3.70

Diluted weighted-average shares outstanding 227,059,734  221,033,628

__________

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

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

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

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

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

Non-GAAP Financial Disclosure

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

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

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

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

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

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

EX-99.2

EX-99.2

Filename: wpc2026q3supplementalexh992.htm · Sequence: 3

Document

Exhibit 99.2

W. P. Carey Inc.

Supplemental Information

Third Quarter 2026

Terms and Definitions

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

REIT Real estate investment trust

U.S. United States

ABR Contractual minimum annualized base rent

ASC Accounting Standards Codification

NAREIT National Association of Real Estate Investment Trusts (an industry trade group)

CPI Consumer price index

EUR Euro

EURIBOR Euro Interbank Offered Rate

CORRA Canadian Overnight Repo Rate Average

SOFR Secured Overnight Financing Rate

Important Note Regarding Non-GAAP Financial Measures

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

Amounts may not sum to totals due to rounding.

W. P. Carey Inc.

Supplemental Information – Third Quarter 2026

Table of Contents

Overview

Summary Metrics

1

Components of Net Asset Value

3

Financial Results

Consolidated Statements of Income – Last Five Quarters

5

FFO and AFFO, Consolidated – Last Five Quarters

6

Elements of Pro Rata Statement of Income and AFFO Adjustments

7

Capital Expenditures

8

Balance Sheets and Capitalization

Consolidated Balance Sheets

10

Capitalization

11

Debt Overview

12

Debt Maturity

13

Senior Unsecured Notes

14

Real Estate

Investment Activity

Investment Volume

16

Capital Investments and Commitments

18

Dispositions

19

Joint Ventures

20

Top 25 Tenants

21

Diversification by Property Type

22

Diversification by Tenant Industry

23

Diversification by Geography

24

Contractual Rent Increases

25

Same-Store Analysis

26

Leasing Activity

29

Lease Expirations

30

Appendix

Normalized Pro Rata Cash NOI

32

Adjusted EBITDA – Last Five Quarters

34

Reconciliation of Net Debt to Adjusted EBITDA

35

Disclosures Regarding Non-GAAP and Other Metrics

36

W. P. Carey Inc.

Overview – Third Quarter 2026

Summary Metrics

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

Financial Results

Revenues, including reimbursable costs – consolidated ($000s) $ 468,301

Net income attributable to W. P. Carey ($000s) 140,950

Net income attributable to W. P. Carey per diluted share 0.61

Normalized pro rata cash NOI ($000s) (a) (b)

408,233

Adjusted EBITDA ($000s) (a) (b)

396,027

AFFO attributable to W. P. Carey ($000s) (a) (b)

308,235

AFFO attributable to W. P. Carey per diluted share (a) (b)

1.33

Dividends declared per share – current quarter 0.950

Dividends declared per share – current quarter annualized 3.800

Dividend yield – annualized, based on quarter end share price of $64.63 5.9  %

Dividend payout ratio – for the nine months ended September 30, 2026 (c)

71.0  %

Balance Sheet and Capitalization

Equity market capitalization – based on quarter end share price of $64.63 ($000s) $ 14,872,558

Net debt ($000s) (d)

8,745,152

Enterprise value ($000s) 23,617,710

Total consolidated debt ($000s) 8,783,517

Gross assets ($000s) (e)

20,892,054

Liquidity ($000s) (f)

2,610,774

Net debt to enterprise value (b)

37.0  %

Net debt to adjusted EBITDA (annualized) (a) (b)

5.5x

Net debt to adjusted EBITDA (annualized) – inclusive of unsettled forward equity (a) (b) (g)

5.2x

Total consolidated debt to gross assets 42.0  %

Total consolidated secured debt to gross assets 0.9  %

Weighted-average interest rate – for the three months ended September 30, 2026 (b)

3.3  %

Weighted-average interest rate – as of September 30, 2026 (b)

3.3  %

Weighted-average debt maturity (years) (b)

4.7

Moody's Investors Service – issuer rating Baa1 (stable)

Standard & Poor's Ratings Services – issuer rating BBB+ (stable)

Real Estate Portfolio (Pro Rata)

ABR – total portfolio ($000s) (h)

$ 1,657,989

Number of net-leased properties 1,755

Number of operating properties (i)

5

Number of tenants – net-leased properties

383

ABR from top ten tenants as a % of total ABR – net-leased properties 18.3  %

ABR from investment grade tenants as a % of total ABR – net-leased properties (j)

22.5  %

Contractual same-store growth (k)

2.6  %

Net-leased properties – square footage (millions) 188.7

Occupancy – net-leased properties 98.6  %

Weighted-average lease term (years) 12.0

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

Dispositions – current quarter ($000s) 26,982

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

________

Investing for the Long Run® | 1

W. P. Carey Inc.

Overview – Third Quarter 2026

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

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

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

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

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

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

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

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

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

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

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

Investing for the Long Run® | 2

W. P. Carey Inc.

Overview – Third Quarter 2026

Components of Net Asset Value

In thousands.

Normalized Pro Rata Cash NOI (a) (b)

Three Months Ended Sep. 30, 2026

Net lease properties $ 405,202

Operating properties (c)

3,031

Total normalized pro rata cash NOI (a) (b)

$ 408,233

Balance Sheet – Selected Information (Consolidated Unless Otherwise Stated) As of Sep. 30, 2026

Assets

Book value of real estate excluded from normalized pro rata cash NOI (d)

$ 185,560

Cash and cash equivalents 143,390

Las Vegas retail complex construction loan (e)

245,884

Other secured loans receivable, net 39,388

Other assets, net:

Straight-line rent adjustments $ 523,758

Investment in shares of Lineage (a cold storage REIT) (f)

162,957

Deferred charges 70,992

Non-rent tenant and other receivables 59,483

Taxes receivable 48,919

Office lease right-of-use assets, net 44,887

Restricted cash, including escrow 42,023

Deferred income taxes 27,913

Prepaid expenses 19,612

Securities and derivatives 15,939

Leasehold improvements, furniture and fixtures 9,942

Rent receivables 5,979

Due from affiliates 464

Other 15,307

Total other assets, net $ 1,048,175

Liabilities

Total pro rata debt outstanding (b) (g)

$ 8,888,542

Dividends payable 223,889

Deferred income taxes 158,816

Accounts payable, accrued expenses and other liabilities:

Accounts payable and accrued expenses $ 189,301

Prepaid and deferred rents 158,098

Operating lease liabilities 139,159

Tenant security deposits 46,337

Accrued taxes payable 41,315

Securities and derivatives 2,913

Other 44,961

Total accounts payable, accrued expenses and other liabilities $ 622,084

________

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

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

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

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

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

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

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

Investing for the Long Run® | 3

W. P. Carey Inc.

Financial Results

Third Quarter 2026

Investing for the Long Run® | 4

W. P. Carey Inc.

Financial Results – Third Quarter 2026

Consolidated Statements of Income – Last Five Quarters

In thousands, except share and per share amounts.

Three Months Ended

Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025

Revenues

Real Estate:

Lease revenues $ 422,499  $ 409,661  $ 402,831  $ 389,154  $ 372,087

Income from finance leases and loans receivable 26,954  27,162  27,686  26,716  26,498

Operating property revenues 12,247  11,638  12,050  18,379  26,771

Other lease-related income 5,726  11,209  10,452  8,137  3,660

467,426  459,670  453,019  442,386  429,016

Investment Management:

Other advisory income and reimbursements 500  1,000  1,000  1,076  1,069

Asset management revenue 375  394  490  1,085  1,218

875  1,394  1,490  2,161  2,287

468,301  461,064  454,509  444,547  431,303

Operating Expenses

Depreciation and amortization 129,137  134,378  136,183  145,339  125,586

General and administrative 25,317  25,934  27,348  25,899  23,656

Reimbursable tenant costs 17,665  19,472  19,692  19,371  14,562

Property expenses, excluding reimbursable tenant costs 12,002  15,206  14,552  13,859  14,637

Stock-based compensation expense 9,968  13,909  7,441  8,650  11,153

Operating property expenses 9,216  8,603  8,694  11,863  15,049

Impairment charges — real estate 6,127  79,421  40,008  39,690  19,474

Merger and other expenses 540  613  1,180  478  1,021

209,972  297,536  255,098  265,149  225,138

Other Income and Expenses

Interest expense (80,388) (78,979) (78,460) (75,431) (75,226)

Other gains and (losses) (a)

(41,566) 48,558  6,791  (10,131) (31,011)

Gain on sale of real estate, net 6,960  5,819  54,141  52,791  44,401

Non-operating income (b)

4,724  4,245  4,704  2,516  3,030

Earnings from equity method investments (c)

3,587  55,579  4,543  4,109  2,361

(106,683) 35,222  (8,281) (26,146) (56,445)

Income before income taxes 151,646  198,750  191,130  153,252  149,720

(Provision for) benefit from income taxes (10,516) (13,091) (14,634) 1,310  (8,495)

Net Income 141,130  185,659  176,496  154,562  141,225

Net income attributable to noncontrolling interests (d)

(180) (270) (194) (6,243) (229)

Net Income Attributable to W. P. Carey $ 140,950  $ 185,389  $ 176,302  $ 148,319  $ 140,996

Basic Earnings Per Share $ 0.61  $ 0.82  $ 0.80  $ 0.67  $ 0.64

Diluted Earnings Per Share $ 0.61  $ 0.82  $ 0.80  $ 0.67  $ 0.64

Weighted-Average Shares Outstanding

Basic 230,835,841  225,971,719  220,620,496  220,469,827  220,562,909

Diluted 231,701,927  227,215,203  221,618,296  221,169,776  221,087,833

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

________

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

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

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

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

Investing for the Long Run® | 5

W. P. Carey Inc.

Financial Results – Third Quarter 2026

FFO and AFFO, Consolidated – Last Five Quarters

In thousands, except share and per share amounts.

Three Months Ended

Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025

Net income attributable to W. P. Carey $ 140,950  $ 185,389  $ 176,302  $ 148,319  $ 140,996

Adjustments:

Depreciation and amortization of real property 128,394  133,663  135,480  144,641  124,906

Gain on sale of real estate, net (6,960) (5,819) (54,141) (52,791) (44,401)

Impairment charges — real estate 6,127  79,421  40,008  39,690  19,474

Proportionate share of adjustments to earnings from equity method investments (a) (b)

644  (50,133) 2,263  2,255  2,271

Proportionate share of adjustments for noncontrolling interests (c) (d)

(23) (26) (25) 5,958  (82)

Total adjustments 128,182  157,106  123,585  139,753  102,168

FFO (as defined by NAREIT) Attributable to W. P. Carey (e)

269,132  342,495  299,887  288,072  243,164

Adjustments:

Other (gains) and losses (f)

41,566  (48,558) (6,791) 10,131  31,011

Straight-line and other leasing and financing adjustments (23,239) (15,459) (24,178) (20,758) (20,424)

Stock-based compensation 9,968  13,909  7,441  8,650  11,153

Amortization of deferred financing costs 5,317  5,292  5,139  4,888  4,874

Above- and below-market rent intangible lease amortization, net

3,738  3,706  2,498  941  4,363

Tax expense (benefit) — deferred and other 606  2,617  2,727  (11,708) (1,215)

Other amortization and non-cash items 573  548  593  589  587

Merger and other expenses 540  613  1,180  478  1,021

Proportionate share of adjustments to earnings from equity method investments (a)

39  303  213  (43) 2,194

Proportionate share of adjustments for noncontrolling interests (c)

(5) (22) (52) (116) (99)

Total adjustments 39,103  (37,051) (11,230) (6,948) 33,465

AFFO Attributable to W. P. Carey (e)

$ 308,235  $ 305,444  $ 288,657  $ 281,124  $ 276,629

Summary

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

$ 269,132  $ 342,495  $ 299,887  $ 288,072  $ 243,164

FFO (as defined by NAREIT) attributable to W. P. Carey per diluted share (e)

$ 1.16  $ 1.51  $ 1.35  $ 1.30  $ 1.10

AFFO attributable to W. P. Carey (e)

$ 308,235  $ 305,444  $ 288,657  $ 281,124  $ 276,629

AFFO attributable to W. P. Carey per diluted share (e)

$ 1.33  $ 1.34  $ 1.30  $ 1.27  $ 1.25

Diluted weighted-average shares outstanding 231,701,927  227,215,203  221,618,296  221,169,776  221,087,833

________

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

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

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

Investing for the Long Run® | 6

W. P. Carey Inc.

Financial Results – Third Quarter 2026

Elements of Pro Rata Statement of Income and AFFO Adjustments

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

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

Equity Method Investments (a)

Noncontrolling Interests (b)

AFFO Adjustments

Revenues

Real Estate:

Lease revenues

$ 2,817  $ (44) $ (18,465)

(c)

Income from finance leases and loans receivable 96  (140) (1,011)

Operating property revenues —  —

Other lease-related income 48  —  —

Investment Management:

Other advisory income and reimbursements —  —  —

Asset management revenue —  —  —

Operating Expenses

Depreciation and amortization 645  (23) (129,116)

(d)

General and administrative —  —  —

Reimbursable tenant costs 340  (7) —

Property expenses, excluding reimbursable tenant costs

732  (22) (471)

(e)

Stock-based compensation expense

—  —  (9,968)

(e)

Operating property expenses —  —  —

Impairment charges — real estate —  —  (6,127)

(e)

Merger and other expenses —  14  (554)

Other Income and Expenses

Interest expense —  —  5,317

(f)

Other gains and (losses) —  24  41,542

(g)

Gain on sale of real estate, net 205  —  (7,165)

Non-operating income 82  —  —

Earnings from equity method investments (1,531) —  224

(h)

Provision for income taxes —  —  607

(i)

Net income attributable to noncontrolling interests —  122  —

________

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

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

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

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

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

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

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

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

(i)Primarily represents the elimination of deferred taxes.

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W. P. Carey Inc.

Financial Results – Third Quarter 2026

Capital Expenditures

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

Turnover Costs (a)

Tenant improvements $ 13,083

Leasing costs 250

Total Tenant Improvements and Leasing Costs 13,333

Property improvements — net-lease properties 2,391

Property improvements — operating properties —

Total Turnover Costs $ 15,724

Maintenance Capital Expenditures

Net-lease properties $ 2,465

Operating properties 194

Total Maintenance Capital Expenditures $ 2,659

________

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

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W. P. Carey Inc.

Balance Sheets and Capitalization

Third Quarter 2026

Investing for the Long Run® | 9

W. P. Carey Inc.

Balance Sheets and Capitalization – Third Quarter 2026

Consolidated Balance Sheets

In thousands, except share and per share amounts.

September 30, 2026 December 31, 2025

Assets

Investments in real estate:

Land, buildings and improvements — net lease and other $ 15,356,587  $ 14,451,306

Land, buildings and improvements — operating properties 182,180  286,079

Net investments in finance leases and loans receivable 1,176,873  1,171,886

In-place lease intangible assets and other

2,607,076  2,466,199

Above-market rent intangible assets

652,631  668,707

Investments in real estate 19,975,347  19,044,177

Accumulated depreciation and amortization (a)

(3,772,799) (3,578,330)

Assets held for sale, net 8,173  3,327

Net investments in real estate 16,210,721  15,469,174

Equity method investments 279,024  310,178

Cash and cash equivalents 143,390  155,329

Other assets, net 1,048,175  1,068,480

Goodwill 982,118  987,071

Total assets $ 18,663,428  $ 17,990,232

Liabilities and Equity

Debt:

Senior unsecured notes, net $ 7,357,845  $ 6,950,261

Unsecured term loans, net 1,165,910  1,196,366

Unsecured revolving credit facility 67,388  435,417

Non-recourse mortgages, net 192,374  140,646

Debt, net 8,783,517  8,722,690

Accounts payable, accrued expenses and other liabilities 622,084  670,038

Below-market rent and other intangible liabilities, net

94,182  104,055

Deferred income taxes 158,816  151,820

Dividends payable 223,889  207,487

Total liabilities 9,882,488  9,856,090

Preferred stock, $0.001 par value, 50,000,000 shares authorized; none issued

—  —

Common stock, $0.001 par value, 450,000,000 shares authorized; 230,118,492 and 219,145,876 shares, respectively, issued and outstanding

230  219

Additional paid-in capital 12,578,438  11,830,737

Distributions in excess of accumulated earnings (3,684,960) (3,539,592)

Deferred compensation obligation 100,948  80,239

Accumulated other comprehensive loss (230,077) (253,346)

Total stockholders' equity 8,764,579  8,118,257

Noncontrolling interests 16,361  15,885

Total equity 8,780,940  8,134,142

Total liabilities and equity $ 18,663,428  $ 17,990,232

________

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

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W. P. Carey Inc.

Balance Sheets and Capitalization – Third Quarter 2026

Capitalization

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

Description Shares Share Price Market Value

Equity

Common equity 230,118,492  $ 64.63  $ 14,872,558

Preferred equity —

Total Equity Market Capitalization 14,872,558

Outstanding Balance (a)

Pro Rata Debt

Non-recourse mortgages 215,841

Unsecured term loans (due February 14, 2028) 603,625

Unsecured term loan (due April 24, 2029) 567,750

Unsecured revolving credit facility (due February 14, 2029) 67,388

Senior unsecured notes:

Due April 15, 2027 (EUR) 567,750

Due April 15, 2028 (EUR) 567,750

Due July 15, 2029 (USD) 325,000

Due September 28, 2029 (EUR) 170,325

Due June 1, 2030 (EUR) 596,138

Due July 15, 2030 (USD) 400,000

Due February 1, 2031 (USD) 500,000

Due October 2, 2031 (EUR) 567,750

Due February 1, 2032 (USD) 350,000

Due July 23, 2032 (EUR) 738,075

Due September 28, 2032 (EUR) 227,100

Due April 1, 2033 (USD) 425,000

Due June 30, 2034 (USD) 400,000

Due November 19, 2034 (EUR) 681,300

Due May 10, 2035 (EUR) 567,750

Due September 15, 2036 (USD) 350,000

Total Pro Rata Debt 8,888,542

Total Capitalization $ 23,761,100

________

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

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W. P. Carey Inc.

Balance Sheets and Capitalization – Third Quarter 2026

Debt Overview

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

USD-Denominated EUR-Denominated

Other Currencies (a)

Total

Outstanding Balance

Out-standing Balance

(in USD) Weigh-ted

Avg. Interest

Rate Out-standing Balance

(in USD) Weigh-ted

Avg. Interest

Rate Out-standing Balance

(in USD) Weigh-ted

Avg. Interest

Rate Amount

(in USD) % of Total Weigh-ted

Avg. Interest

Rate Weigh-ted

Avg. Maturity (Years)

Non-Recourse Debt (b) (c)

Fixed (d)

$ 69,577  4.5  % $ 32,428  5.5  % $ 19,672  4.6  % $ 121,677  1.3  % 4.8  % 1.8

Floating —  —  % 94,164  4.4  % —  —  % 94,164  1.1  % 4.4  % 4.6

Total Pro Rata Non-Recourse Debt

69,577  4.5  % 126,592  4.7  % 19,672  4.6  % 215,841  2.4  % 4.6  % 3.0

Recourse Debt (b) (c)

Fixed – Senior unsecured notes:

Due April 15, 2027 —  —  % 567,750  2.1  % —  —  % 567,750  6.4  % 2.1  % 0.5

Due April 15, 2028 —  —  % 567,750  1.4  % —  —  % 567,750  6.4  % 1.4  % 1.5

Due July 15, 2029 325,000  3.9  % —  —  % —  —  % 325,000  3.7  % 3.9  % 2.8

Due September 28, 2029 —  —  % 170,325  3.4  % —  —  % 170,325  1.9  % 3.4  % 3.0

Due June 1, 2030 —  —  % 596,138  1.0  % —  —  % 596,138  6.7  % 1.0  % 3.7

Due July 15, 2030 400,000  4.7  % —  —  % —  —  % 400,000  4.5  % 4.7  % 3.8

Due February 1, 2031 500,000  2.4  % —  —  % —  —  % 500,000  5.6  % 2.4  % 4.3

Due October 2, 2031 —  —  % 567,750  3.3  % —  —  % 567,750  6.4  % 3.3  % 5.0

Due February 1, 2032 350,000  2.5  % —  —  % —  —  % 350,000  3.9  % 2.5  % 5.3

Due July 23, 2032 —  —  % 738,075  4.3  % —  —  % 738,075  8.3  % 4.3  % 5.8

Due September 28, 2032 —  —  % 227,100  3.7  % —  —  % 227,100  2.5  % 3.7  % 6.0

Due April 1, 2033 425,000  2.3  % —  —  % —  —  % 425,000  4.8  % 2.3  % 6.5

Due June 30, 2034 400,000  5.4  % —  —  % —  —  % 400,000  4.5  % 5.4  % 7.8

Due November 19, 2034 —  —  % 681,300  3.7  % —  —  % 681,300  7.7  % 3.7  % 8.1

Due May 10, 2035 —  —  % 567,750  3.8  % —  —  % 567,750  6.4  % 3.8  % 8.6

Due September 15, 2036 350,000  5.2  % —  —  % —  —  % 350,000  3.9  % 5.2  % 10.0

Total Senior Unsecured Notes 2,750,000  3.7  % 4,683,938  2.9  % —  —  % 7,433,938  83.6  % 3.2  % 5.2

Swapped to Fixed:

Unsecured term loan (due April 24, 2029) (e)

—  —  % 567,750  2.7  % —  —  % 567,750  6.4  % 2.7  % 2.6

Unsecured term loan (due February 14, 2028) (e)

—  —  % —  —  % 358,734  4.7  % 358,734  4.0  % 4.7  % 1.4

Floating:

Unsecured revolving credit facility (due February 14, 2029) (f)

39,000  4.5  % 28,388  3.1  % —  —  % 67,388  0.8  % 3.9  % 2.4

Unsecured term loan (due February 14, 2028) (g)

—  —  % —  —  % 244,891  3.0  % 244,891  2.8  % 3.0  % 1.4

Total Recourse Debt 2,789,000  3.7  % 5,280,076  2.9  % 603,625  4.0  % 8,672,701  97.6  % 3.2  % 4.7

Total Pro Rata Debt Outstanding

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

________

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

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

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

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

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

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

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

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W. P. Carey Inc.

Balance Sheets and Capitalization – Third Quarter 2026

Debt Maturity

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

Real Estate Debt

Number of Properties (a)

Weighted-Average Interest Rate

Total Outstanding Balance (b) (c)

% of Total Outstanding Balance

Year of Maturity

ABR (a)

Balloon

Non-Recourse Debt

2027 3  $ 1,298  4.2  % $ 28,289  $ 28,428  0.3  %

2028 5  14,082  5.0  % 72,384  76,604  0.9  %

2029 3  1,493  4.0  % 10,911  11,606  0.1  %

2031 20  18,702  4.4  % 76,928  96,017  1.1  %

2033 1  1,504  5.6  % 1,648  3,186  —  %

Total Pro Rata Non-Recourse Debt

32  $ 37,079  4.6  % $ 190,160  215,841  2.4  %

Recourse Debt

Fixed – Senior unsecured notes:

Due April 15, 2027 (EUR) 2.1  % 567,750  6.4  %

Due April 15, 2028 (EUR) 1.4  % 567,750  6.4  %

Due July 15, 2029 (USD) 3.9  % 325,000  3.7  %

Due September 28, 2029 (EUR) 3.4  % 170,325  1.9  %

Due June 1, 2030 (EUR) 1.0  % 596,138  6.7  %

Due July 15, 2030 (USD) 4.7  % 400,000  4.5  %

Due February 1, 2031 (USD) 2.4  % 500,000  5.6  %

Due October 2, 2031 (EUR) 3.3  % 567,750  6.4  %

Due February 1, 2032 (USD) 2.5  % 350,000  3.9  %

Due July 23, 2032 (EUR) 4.3  % 738,075  8.3  %

Due September 28, 2032 (EUR) 3.7  % 227,100  2.5  %

Due April 1, 2033 (USD) 2.3  % 425,000  4.8  %

Due June 30, 2034 (USD) 5.4  % 400,000  4.5  %

Due November 19, 2034 (EUR) 3.7  % 681,300  7.7  %

Due May 10, 2035 (EUR) 3.8  % 567,750  6.4  %

Due September 15, 2036 (USD) 5.2  % 350,000  3.9  %

Total Senior Unsecured Notes 3.2  % 7,433,938  83.6  %

Swapped to Fixed:

Unsecured term loan (due April 24, 2029) (d)

2.7  % 567,750  6.4  %

Unsecured term loan (due February 14, 2028) (d)

4.7  % 358,734  4.0  %

Floating:

Unsecured revolving credit facility (due February 14, 2029) (e)

3.9  % 67,388  0.8  %

Unsecured term loan (due February 14, 2028) (f)

3.0  % 244,891  2.8  %

Total Recourse Debt 3.2  % 8,672,701  97.6  %

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

________

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

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

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

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

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

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

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W. P. Carey Inc.

Balance Sheets and Capitalization – Third Quarter 2026

Senior Unsecured Notes

As of September 30, 2026.

Ratings

Issuer Senior Unsecured Notes

Ratings Agency Rating Outlook Rating

Moody's Baa1 Stable Baa1

Standard & Poor’s BBB+ Stable BBB+

Senior Unsecured Note Covenants

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

Covenant Metric Required As of

Sep. 30, 2026

Limitation on the incurrence of debt "Total Debt" /

"Total Assets" ≤ 60% 39.3%

Limitation on the incurrence of secured debt "Secured Debt" /

"Total Assets" ≤ 40% 0.9%

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

"Consolidated EBITDA" /

"Annual Debt Service Charge" ≥ 1.5x 5.1x

Maintenance of unencumbered asset value "Unencumbered Assets" / "Total Unsecured Debt" ≥ 150% 249.8%

Investing for the Long Run® | 14

W. P. Carey Inc.

Real Estate

Third Quarter 2026

Investing for the Long Run® | 15

W. P. Carey Inc.

Real Estate – Third Quarter 2026

Investment Activity – Investment Volume

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

Property Type(s) Closing Date / Asset Completion Date Gross Investment Amount Investment Type

Lease Term (Years) (a)

Gross Square Footage

Tenant Property Location(s)

1Q26

Hedin Mobility Group (b)

Amsterdam, the Netherlands Retail Jan-26 $ 17,636  Build-to-Suit 22  62,810

Dollar General Las Vegas, NM Retail Jan-26 2,195  Acquisition 15  10,542

IMS Companies Arlington Heights, IL Industrial Jan-26 9,432  Acquisition 4  126,948

Raben Group (8 properties) (b)

Various, Poland Warehouse Jan-26; Feb-26 201,789  Sale-leaseback 15  1,857,837

EOS Fitness Surprise, AZ Retail Jan-26 11,646  Build-to-Suit 20  40,057

HB Chemical Solon, OH Warehouse Jan-26 43,387  Acquisition 11  412,171

Janus International Surprise, AZ Industrial Feb-26 20,732  Build-to-Suit 20  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 15  422,802

Go Auto (14 properties) (b)

Various, Canada Retail Mar-26 211,883  Sale-leaseback 25  596,176

Barnes Molding Solutions (b)

Bahlingen am Kaiserstuhl, Germany Industrial Mar-26 23,621  Sale-leaseback 20  217,011

Scania (b)

Oskarshamn, Sweden Warehouse Mar-26 18,188  Build-to-Suit 15  204,645

1Q26 Total 582,854  19  4,082,752

2Q26

TSEA Energy Eden, NC Industrial Apr-26 12,729  Acquisition 12  167,555

Jumbo (b)

Breda, the Netherlands Warehouse Apr-26 4,678  Renovation 10  N/A

Summa Health Akron, OH Specialty (Healthcare) Apr-26 27,165  Acquisition 11  71,088

Montanhydraulik (4 properties) (b)

Various, Germany Industrial Apr-26 51,842  Sale-leaseback 25  668,618

GardenCore (43 properties) Various, US Industrial May-26 400,188  Sale-leaseback 20  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 6  587,804

Ontime (2 properties) (b)

Murcia, Spain Warehouse May-26 33,926  Sale-leaseback 20  426,725

Rocky Vista University Billings, MT Education (Medical School) Jun-26 25,000  Build-to-Suit 25  57,995

Dollar General (2 properties) Bloomfield, NM Retail Jun-26 3,766  Acquisition 15  21,206

NewEra Nobis Overland Park, KS Specialty (Healthcare) Jun-26 9,840  Expansion 20  7,398

Whirlpool Tulsa, OK Warehouse Jun-26 74,710  Sale-leaseback 15  799,431

2Q26 Total 705,821  18  4,789,852

3Q26

Purmo Group (2 properties) (b)

Rybnik and Wałcz, Poland Industrial Aug-26 59,636  Sale-leaseback 20  898,421

Dollar General Yah-Ta-Hey, NM Retail Aug-26 2,424  Acquisition 15  10,566

TI Automotive (b)

Brampton, Canada Industrial Sep-26 17,652  Build-to-Suit 20  120,222

Sunoco (7 properties) Russellville (6 properties) and Dover (1 property), AR Retail Sep-26 25,607  Acquisition 20  15,869

Nord Anglia Chicago, IL Education (K-12 Private School) Sep-26 70,657  Acquisition 24  102,000

Solar Projects (b)

Various, United States and the Netherlands Various Sep-26 5,419  Solar Projects N/A N/A

3Q26 Total 181,395  21  1,147,078

Year-to-Date Total 1,470,070  19  10,019,682

Investing for the Long Run® | 16

W. P. Carey Inc.

Real Estate – Third Quarter 2026

Investment Activity – Investment Volume (continued)

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

Property Type Loan Origination Loan Maturity Date Funding Outstanding Maximum Commitment

Description Property Location Current Quarter Year to Date

Construction Loan (e)

SW Corner of Las Vegas & Harmon (f)

Las Vegas, NV Retail Jun-21 2027 $ —  $ —  $ 245,884  $ 256,887

SE Corner of Las Vegas & Harmon (g)

Las Vegas, NV Retail Nov-24 2026 —  2,359  20,726  23,449

SE Corner of Las Vegas & Elvis Presley (g)

Las Vegas, NV Retail Nov-24 2026 465  1,245  18,662  25,000

Total 465  3,604  285,272  305,336

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

________

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

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

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

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

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

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

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

Investing for the Long Run® | 17

W. P. Carey Inc.

Real Estate – Third Quarter 2026

Investment Activity – Capital Investments and Commitments (a)

Dollars in thousands. Pro rata.

Primary Transaction Type Property Type Expected Completion / Closing Date Additional Gross Square Footage

Lease Term (Years) (b)

Funded During Three Months Ended Sep. 30, 2026 (c)

Total Funded Through Sep. 30, 2026 Maximum Commitment / Gross Investment Amount

Tenant Location Remaining Total

AEG Presents (d)

Austin, TX Build-to-Suit Specialty (Entertainment) Q4 2026 56,403  30  $ 9,492  $ 34,159  $ 13,397  $ 47,556

Novus Foods (e)

Delphos, OH Build-to-Suit Industrial Q4 2026 136,250  25  7,107  19,465  16,064  36,000

Untenanted Atlanta, GA Redevelopment Warehouse Q4 2026 99,000  N/A 1,746  2,416  9,263  11,679

Expected Completion Date 2026 Total 291,653  28  18,345  56,040  38,724  95,235

AEG Presents (d)

Portland, OR Build-to-Suit Specialty (Entertainment) Q1 2027 57,825  30  7,346  34,898  25,815  60,713

Nord Anglia (e)

Houston, TX Expansion Education (K-12 Private School) Q1 2027 13,150  20  3,584  4,453  3,858  8,500

Untenanted Atlanta, GA Redevelopment Warehouse Q2 2027 615,300  N/A 783  2,536  53,941  56,477

Untenanted San Leandro, CA Redevelopment Warehouse Q2 2027 67,440  N/A 3,221  5,900  9,318  15,218

Nord Anglia (e)

Coconut Creek, FL Expansion Education (K-12 Private School) Q3 2027 7,685  25  —  —  11,466  11,466

Ontime (f)

Noblejas, Spain Purchase Commitment Industrial Q4 2027 81,784  19  —  —  37,390  37,390

Various Various, US Solar Projects Various Various N/A N/A 738  1,157  13,919  15,076

Expected Completion Date 2027 Total 843,184  25  15,672  48,944  155,707  204,840

Nord Anglia (e)

Coconut Creek, FL Expansion Education (K-12 Private School) Q3 2028 34,500  25  —  —  25,205  25,205

Expected Completion Date 2028 Total 34,500  25  —  —  25,205  25,205

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

________

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

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

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

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

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

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

Investing for the Long Run® | 18

W. P. Carey Inc.

Real Estate – Third Quarter 2026

Investment Activity – Dispositions

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

Tenant Property Location(s) Gross Sale Price Closing Date Property Type(s) Gross Square Footage

1Q26

Vacant (formerly Hellweg) (a)

Chemnitz, Germany $ 3,278  Jan-26 Retail 82,699

Hellweg (2 properties) (a)

Dortmund-Kley and Bonn-Beuel, Germany 6,488  Jan-26; Mar-26 Retail 140,330

AutoZone St. Louis, MO 391  Jan-26 Retail 5,400

Vacant Opelika, AL 52,697  Feb-26 Warehouse 702,623

TI Automotive Gallatin, TN 7,500  Feb-26 Industrial 95,920

Self-Storage Operating Properties (11 properties) Various, United States 75,160  Mar-26 Self-Storage (Operating) 738,942

Vacant Oceanside, CA 11,452  Mar-26 Warehouse 58,977

Vacant (formerly Hellweg) (a)

Duisburg, Germany 5,600  Mar-26 Retail 85,993

1Q26 Total 162,566  1,910,884

2Q26

Wanbishi (a)

Saitama Prefecture, Japan 28,892  Apr-26 Industrial 156,842

TI Automotive (a)

Windsor, Canada 2,544  May-26 Industrial 98,000

Vacant Plover, WI 9,100  May-26 Warehouse 210,000

Vacant (formerly Hellweg) (a)

Oberhausen, Germany 5,822  May-26 Retail 83,420

PPT Industrial Machines Mt. Carmel, IL 2,238  May-26 Industrial 128,636

Vacant (a)

Guelph, Canada 11,086  Jun-26 Warehouse 109,968

Vacant Toppenish, WA 4,800  Jun-26 Warehouse 274,750

Vacant (a)

Herceghalom, Hungary 15,569  Jun-26 Warehouse 508,797

ECI Fargo, ND 3,600  Jun-26 Industrial 43,700

2Q26 Total 83,651  1,614,113

3Q26

Vacant (a)

Aurillac, France 2,410  Jul-26 Retail 131,589

Vacant (formerly Hellweg) (a)

Bonn-Duisdorf, Germany 6,891  Aug-26 Retail 80,234

Vacant Muskogee, OK 3,250  Aug-26 Warehouse 84,283

Vacant Albany, GA 9,116  Aug-26 Warehouse 653,082

Pendragon (a)

Reading, United Kingdom 5,315  Sep-26 Retail 11,311

3Q26 Total 26,982  960,499

Year-to-Date Total Dispositions $ 273,199  4,485,496

________

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

Investing for the Long Run® | 19

W. P. Carey Inc.

Real Estate – Third Quarter 2026

Joint Ventures

Dollars in thousands. As of September 30, 2026.

Joint Venture or JV (Principal Tenant) JV Partnership Consolidated

Pro Rata (a)

Asset Type WPC % Debt Outstanding ABR Debt Outstanding ABR

Unconsolidated Joint Ventures (Equity Method Investments) (b)

Las Vegas Retail Complex (c)

Net lease 47.50% $ 245,884  $ 23,063  $ 116,795  $ 10,955

Harmon Retail Corner Common equity interest 15.00% 143,000  —  21,450  —

Total Unconsolidated Joint Ventures 388,884  23,063  138,245  10,955

Consolidated Joint Ventures (d)

Fentonir (e)

Net lease 94.90% —  2,849  —  2,704

Iowa Board of Regents Net lease 90.00% —  707  —  636

Total Consolidated Joint Ventures —  3,556  —  3,340

Total Unconsolidated and Consolidated Joint Ventures

$ 388,884  $ 26,619  $ 138,245  $ 14,295

________

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

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

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

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

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

Investing for the Long Run® | 20

W. P. Carey Inc.

Real Estate – Third Quarter 2026

Top 25 Tenants

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

Tenant Description Number of Properties ABR ABR % Weighted-Average Lease Term (Years)

Extra Space Storage Net lease self-storage properties in the U.S. leased to publicly traded self-storage REIT 43  $ 42,578  2.6  % 22.9

Apotex (a)

Pharmaceutical R&D and manufacturing properties in the Greater Toronto Area leased to generic drug manufacturer 11  34,451  2.1  % 16.5

Life Time Fitness Health and fitness facilities in the U.S. leased to premium athletic club operator 12  32,450  2.0  % 7.1

Nord Anglia K-12 private schools in Orlando, Miami, Houston and Chicago leased to international day and boarding school operator 4  29,415  1.8  % 22.7

GardenCore Manufacturing, packaging and industrial outdoor storage (IOS) facilities in the U.S. leased to producer and supplier of mulch and other lawn and garden products 43  29,120  1.7  % 19.7

Metro Italia (b)

Business-to-business retail stores in Italy leased to cash and carry wholesaler 18  28,562  1.7  % 4.6

Fortenova (b)

Grocery stores and one warehouse in Croatia leased to European food retailer 19  28,266  1.7  % 7.6

OBI (b)

Retail properties in Poland leased to German DIY retailer 26  26,959  1.6  % 7.4

TI Automotive (a) (c)

Automotive parts manufacturing properties in the U.S., Canada and Mexico leased to OEM supplier 20  26,161  1.6  % 18.3

Fedrigoni (b)

Industrial and warehouse facilities in Germany, Italy and Spain leased to global manufacturer of premium packaging and labels 16  24,659  1.5  % 17.2

Top 10 Total 212  302,621  18.3  % 14.8

Kesko Senukai (b)

Distribution facilities and retail properties in Lithuania, Estonia and Latvia leased to European DIY retailer 19  24,143  1.4  % 5.4

Eroski (b)

Grocery stores and warehouses in Spain leased to Spanish food retailer 63  24,027  1.4  % 9.5

Berry Global Manufacturing facilities in the U.S. leased to international producer and supplier of packaging solutions 8  21,301  1.3  % 12.0

Quikrete (b)

Industrial facilities in the U.S. and Canada leased to concrete and building products manufacturer 27  21,038  1.3  % 16.7

Advance Auto Parts Distribution facilities in the U.S. leased to automotive aftermarket parts provider 28  19,929  1.2  % 6.3

Pendragon (b)

Dealerships in the United Kingdom leased to automotive retailer 45  18,522  1.1  % 12.2

Maker’s Pride Production, packaging and distribution facilities in the U.S. leased to North American contract food manufacturer 18  18,077  1.1  % 15.8

Dollar General Retail properties in the U.S. leased to discount retailer 130  17,823  1.1  % 12.8

Jumbo (b)

Logistics and cold storage warehouse facilities in the Netherlands leased to European supermarket chain 4  15,119  0.9  % 6.9

Danske Fragtmaend (b)

Distribution facilities in Denmark leased to Danish freight company 15  14,905  0.9  % 10.4

Top 20 Total 569  497,505  30.0  % 13.2

Intergamma (b)

Retail properties in the Netherlands leased to European DIY retailer 36  14,841  0.9  % 6.8

Go Auto (b)

Dealerships in Canada leased to automotive retailer 14  13,860  0.8  % 24.5

Rocky Vista University Private medical schools in Colorado, Montana and Utah leased to for-profit medical school operator 5  13,326  0.8  % 24.6

Premium Brands Food processing facility in Tennessee leased to global specialty food manufacturer 1  12,931  0.8  % 23.8

Raben Group (b)

Distribution facilities in Poland leased to European logistics company 8  12,750  0.8  % 14.4

Top 25 Total (d)

633  $ 565,213  34.1  % 13.8

________

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

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

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

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

Investing for the Long Run® | 21

W. P. Carey Inc.

Real Estate – Third Quarter 2026

Diversification by Property Type

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

Total Net-Lease Portfolio

Property Type ABR ABR %

Square Footage (a)

Square Footage %

U.S.

Industrial $ 434,882  26.2  % 59,923  31.8  %

Warehouse 236,678  14.3  % 41,349  21.9  %

Retail (b)

140,743  8.5  % 6,513  3.5  %

Other (c)

199,412  12.0  % 9,704  5.1  %

U.S. Total 1,011,715  61.0  % 117,489  62.3  %

International

Industrial 211,836  12.8  % 27,489  14.5  %

Warehouse 175,488  10.6  % 24,964  13.2  %

Retail (b)

223,722  13.5  % 16,969  9.0  %

Other (c)

35,228  2.1  % 1,812  1.0  %

International Total 646,274  39.0  % 71,234  37.7  %

Total

Industrial 646,718  39.0  % 87,412  46.3  %

Warehouse 412,166  24.9  % 66,313  35.1  %

Retail (b)

364,465  22.0  % 23,482  12.5  %

Other (c)

234,640  14.1  % 11,516  6.1  %

Total (d)

$ 1,657,989  100.0  % 188,723  100.0  %

________

(a)Includes square footage for vacant properties.

(b)Includes automotive dealerships.

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

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

Investing for the Long Run® | 22

W. P. Carey Inc.

Real Estate – Third Quarter 2026

Diversification by Tenant Industry

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

Total Net-Lease Portfolio

Industry Type (a)

ABR ABR % Square Footage Square Footage %

Packaged Foods & Meats $ 148,714  9.0  % 18,140  9.6  %

Food Retail 138,580  8.4  % 10,147  5.4  %

Home Improvement Retail 98,336  5.9  % 11,996  6.4  %

Automotive Retail 94,364  5.7  % 7,712  4.1  %

Auto Parts & Equipment 82,996  5.0  % 12,074  6.4  %

Education Services 68,937  4.2  % 2,921  1.5  %

Air Freight & Logistics 66,843  4.0  % 10,006  5.3  %

Pharmaceuticals 49,621  3.0  % 3,076  1.6  %

Industrial Machinery 49,295  3.0  % 6,856  3.6  %

Leisure Facilities 45,527  2.7  % 2,020  1.1  %

Self-Storage REITs 42,578  2.6  % 3,171  1.7  %

Metal, Glass & Plastic Containers 39,944  2.4  % 5,318  2.8  %

Trading Companies & Distributors 38,941  2.3  % 8,504  4.5  %

Building Products 38,756  2.3  % 7,748  4.1  %

Environmental & Facilities Services 33,480  2.0  % 2,321  1.2  %

Paper Products 30,625  1.8  % 5,540  2.9  %

Other Specialty Retail 27,806  1.7  % 3,127  1.7  %

Specialty Chemicals 27,637  1.7  % 4,874  2.6  %

Construction Materials 24,024  1.5  % 3,781  2.0  %

Diversified Support Services 22,222  1.3  % 1,835  1.0  %

Food Distributors 21,066  1.3  % 1,552  0.8  %

Construction Machinery 20,848  1.3  % 2,733  1.5  %

Consumer Staples Merchandise Retail 20,007  1.2  % 1,667  0.9  %

Commodity Chemicals 17,230  1.0  % 2,517  1.3  %

Diversified Metals 16,726  1.0  % 3,389  1.8  %

Other (61 industries, each <1% ABR) (b)

392,886  23.7  % 45,698  24.2  %

Total (c)

$ 1,657,989  100.0  % 188,723  100.0  %

________

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

(b)Includes square footage for vacant properties.

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

Investing for the Long Run® | 23

W. P. Carey Inc.

Real Estate – Third Quarter 2026

Diversification by Geography

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

Total Net-Lease Portfolio

Region ABR ABR %

Square Footage (a)

Square Footage %

U.S.

South

Texas $ 103,427  6.2  % 12,044  6.4  %

Florida 46,326  2.8  % 3,798  2.0  %

Tennessee 39,424  2.4  % 4,476  2.4  %

Georgia 27,708  1.7  % 2,982  1.6  %

Alabama 24,412  1.5  % 2,905  1.5  %

Other (b)

43,222  2.6  % 4,498  2.4  %

Total South 284,519  17.2  % 30,703  16.3  %

Midwest

Illinois 75,448  4.5  % 9,639  5.1  %

Ohio 52,815  3.2  % 8,837  4.7  %

Indiana 44,028  2.7  % 6,251  3.3  %

Michigan 28,844  1.7  % 4,613  2.4  %

Wisconsin 20,852  1.3  % 3,200  1.7  %

Other (b)

61,527  3.7  % 7,170  3.8  %

Total Midwest 283,514  17.1  % 39,710  21.0  %

East

North Carolina 44,367  2.7  % 9,103  4.8  %

Kentucky 30,466  1.8  % 4,485  2.4  %

Massachusetts 29,917  1.8  % 1,436  0.8  %

Pennsylvania 29,783  1.8  % 3,416  1.8  %

New Jersey 26,600  1.6  % 1,139  0.6  %

New York 24,757  1.5  % 2,382  1.3  %

South Carolina 20,598  1.2  % 4,515  2.4  %

Other (b)

42,952  2.6  % 5,643  3.0  %

Total East 249,440  15.0  % 32,119  17.1  %

West

California 79,347  4.8  % 5,316  2.8  %

Arizona 25,331  1.5  % 2,544  1.3  %

Nevada 18,084  1.1  % 485  0.3  %

Other (b)

71,480  4.3  % 6,612  3.5  %

Total West 194,242  11.7  % 14,957  7.9  %

U.S. Total 1,011,715  61.0  % 117,489  62.3  %

International

Poland 82,937  5.0  % 11,204  5.9  %

Canada (c)

75,543  4.6  % 6,245  3.3  %

Italy 74,654  4.5  % 9,914  5.2  %

The Netherlands 68,831  4.2  % 6,847  3.6  %

United Kingdom 65,134  3.9  % 4,837  2.6  %

Germany 52,048  3.1  % 5,705  3.0  %

Spain 45,096  2.7  % 4,677  2.5  %

Croatia 29,179  1.8  % 2,063  1.1  %

Mexico (d)

28,147  1.7  % 4,328  2.3  %

Denmark 27,261  1.6  % 3,002  1.6  %

France 25,512  1.5  % 2,017  1.1  %

Lithuania 17,891  1.1  % 2,014  1.1  %

Other (e)

54,041  3.3  % 8,381  4.4  %

International Total 646,274  39.0  % 71,234  37.7  %

Total (f)

$ 1,657,989  100.0  % 188,723  100.0  %

________

(a)Includes square footage for vacant properties.

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

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

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

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

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

Investing for the Long Run® | 24

W. P. Carey Inc.

Real Estate – Third Quarter 2026

Contractual Rent Increases

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

Total Net-Lease Portfolio

Rent Adjustment Measure ABR ABR % Square Footage Square Footage %

Uncapped CPI $ 485,219  29.3  % 46,358  24.5  %

Capped CPI 305,754  18.4  % 41,338  21.9  %

CPI-linked 790,973  47.7  % 87,696  46.4  %

Fixed 811,558  49.0  % 94,766  50.2  %

Other (a)

47,225  2.8  % 3,359  1.8  %

None 8,233  0.5  % 313  0.2  %

Vacant —  —  % 2,589  1.4  %

Total (b)

$ 1,657,989  100.0  % 188,723  100.0  %

________

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

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

Investing for the Long Run® | 25

W. P. Carey Inc.

Real Estate – Third Quarter 2026

Same-Store Analysis

Dollars in thousands. Pro rata.

Contractual Same-Store Growth

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

ABR

As of

Sep. 30, 2026 Sep. 30, 2025 Increase % Increase

Property Type

Industrial $ 539,577  $ 525,667  $ 13,910  2.6  %

Warehouse 346,334  335,207  11,127  3.3  %

Retail (a)

287,691  282,154  5,537  2.0  %

Other (b)

188,223  183,778  4,445  2.4  %

Total $ 1,361,825  $ 1,326,806  $ 35,019  2.6  %

Rent Adjustment Measure

Uncapped CPI $ 389,993  $ 380,855  $ 9,138  2.4  %

Capped CPI 262,518  254,777  7,741  3.0  %

CPI-linked 652,511  635,632  16,879  2.7  %

Fixed 656,975  640,081  16,894  2.6  %

Other (c)

46,900  45,654  1,246  2.7  %

None 5,439  5,439  —  —  %

Total $ 1,361,825  $ 1,326,806  $ 35,019  2.6  %

Geography

U.S. $ 835,740  $ 815,365  $ 20,375  2.5  %

Europe 443,193  430,781  12,412  2.9  %

Other International (d)

82,892  80,660  2,232  2.8  %

Total $ 1,361,825  $ 1,326,806  $ 35,019  2.6  %

Same-Store Portfolio Summary

Number of properties 1,433

Square footage (in thousands) 157,580

Investing for the Long Run® | 26

W. P. Carey Inc.

Real Estate – Third Quarter 2026

Comprehensive Same-Store Growth

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

Same-Store Pro Rata Rental Income

Three Months Ended

Sep. 30, 2026 Sep. 30, 2025 Increase % Increase

Property Type

Industrial $ 132,688  $ 128,543  $ 4,145  3.2  %

Warehouse 90,853  88,724  2,129  2.4  %

Retail (a)

77,037  74,593  2,444  3.3  %

Other (b)

48,853  50,123  (1,270) (2.5) %

Total $ 349,431  $ 341,983  $ 7,448  2.2  %

Rent Adjustment Measure

Uncapped CPI $ 105,261  $ 104,261  $ 1,000  1.0  %

Capped CPI 62,836  61,259  1,577  2.6  %

CPI-linked 168,097  165,520  2,577  1.6  %

Fixed 168,627  164,102  4,525  2.8  %

Other (c)

11,551  11,300  251  2.2  %

None 1,156  1,061  95  9.0  %

Total $ 349,431  $ 341,983  $ 7,448  2.2  %

Geography

U.S. $ 214,874  $ 210,739  $ 4,135  2.0  %

Europe 112,798  110,260  2,538  2.3  %

Other International (d)

21,759  20,984  775  3.7  %

Total $ 349,431  $ 341,983  $ 7,448  2.2  %

Same-Store Portfolio Summary

Number of properties 1,503

Square footage (in thousands) 164,223

Investing for the Long Run® | 27

W. P. Carey Inc.

Real Estate – Third Quarter 2026

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

Three Months Ended

Sep. 30, 2026 Sep. 30, 2025

Consolidated Lease Revenues

Total lease revenues – as reported $ 422,499  $ 372,087

Income from finance leases and loans receivable 26,954  26,498

Less: Reimbursable tenant costs – as reported (17,665) (14,562)

Less: Income from secured loans receivable (744) (669)

431,044  383,354

Adjustments for Pro Rata Ownership of Real Estate Joint Ventures:

Add: Pro rata share of adjustments from equity method investments 2,477  3,625

Less: Pro rata share of adjustments for noncontrolling interests (178) (272)

2,299  3,353

Adjustments for Pro Rata Non-Cash Items:

Less: Straight-line and other leasing and financing adjustments (23,239) (20,424)

Add: Above- and below-market rent intangible lease amortization 3,738  4,363

Less: Adjustments for pro rata ownership 17  1,780

(19,484) (14,281)

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

(64,428) (30,443)

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

________

(a)Includes automotive dealerships.

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

(c)Represents leases attributable to percentage rent.

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

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

Investing for the Long Run® | 28

W. P. Carey Inc.

Real Estate – Third Quarter 2026

Leasing Activity

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

Lease Renewals and Extensions (a)

Property and Tenant Improvements (c)

Leasing Commissions

ABR

Property Type Square Feet Number of Leases Prior Lease

New Lease (b)

Rent Recapture Incremental Lease Term

Industrial 238,681  1  $ 1,417  $ 1,842  130.0  % $ 1,659  $ 634  10.0 years

Warehouse 316,991  2  2,492  2,554  102.5  % —  —  5.6 years

Retail —  —  —  —  —  % —  —  N/A

Other 394,070  1  10,989  11,304  102.9  % —  —  9.8 years

Total / Weighted Average 949,742  4  $ 14,898  $ 15,700  105.4  % $ 1,659  $ 634  8.8 years

Q3 Summary

Prior Lease ABR (% of Total Portfolio)

0.9  %

New Leases

Property and Tenant Improvements (c)

Leasing Commissions

ABR

Property Type Square Feet Number of Leases

New Lease (b)

New Lease Term

Industrial 35,000  1  $ 270  $ 243  $ 93  10.0 years

Warehouse —  —  —  —  —  N/A

Retail 510,154  6  6,879  8,842  155  13.3 years

Other —  —  —  —  —  N/A

Total / Weighted Average (d)

545,154  7  $ 7,149  $ 9,085  $ 248  13.2 years

_______

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

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

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

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

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W. P. Carey Inc.

Real Estate – Third Quarter 2026

Lease Expirations

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

Year of Lease Expiration (a)

Number of Leases Expiring Number of Tenants with Leases Expiring ABR ABR % Square Footage Square Footage %

Remaining 2026 8  7  $ 27,845  1.7  % 2,681  1.4  %

2027 32  22  45,904  2.8  % 4,029  2.1  %

2028 45  27  68,828  4.1  % 7,565  4.0  %

2029 53  39  66,234  4.0  % 7,446  3.9  %

2030 33  28  40,372  2.4  % 3,880  2.1  %

2031 48  30  80,967  4.9  % 9,693  5.1  %

2032 47  25  65,668  4.0  % 8,905  4.7  %

2033 35  26  89,242  5.4  % 12,001  6.4  %

2034 73  28  110,902  6.7  % 10,887  5.8  %

2035 24  20  78,842  4.8  % 8,805  4.7  %

2036 49  24  74,007  4.5  % 8,586  4.5  %

2037 49  26  71,959  4.3  % 9,591  5.1  %

2038 49  16  31,848  1.9  % 3,045  1.6  %

2039 100  27  76,677  4.6  % 11,329  6.0  %

Thereafter (>2039) 332  130  728,694  43.9  % 77,691  41.2  %

Vacant —  —  —  —  % 2,589  1.4  %

Total (b)

977  $ 1,657,989  100.0  % 188,723  100.0  %

________

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

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

Investing for the Long Run® | 30

W. P. Carey Inc.

Appendix

Third Quarter 2026

Investing for the Long Run® | 31

W. P. Carey Inc.

Appendix – Third Quarter 2026

Normalized Pro Rata Cash NOI

In thousands.

Three Months Ended Sep. 30, 2026

Consolidated Lease Revenues

Total lease revenues – as reported $ 422,499

Income from finance leases and loans receivable – as reported 26,954

Less: Income from secured loans receivable (744)

Less: Consolidated Reimbursable and Non-Reimbursable Property Expenses

Reimbursable property expenses – as reported 17,665

Non-reimbursable property expenses – as reported 12,002

419,042

Plus: NOI from Operating Properties

Hotel revenues 11,307

Hotel expenses (8,387)

2,920

Student housing and other revenues 940

Student housing and other expenses (829)

111

422,073

Adjustments for Pro Rata Ownership of Real Estate Joint Ventures:

Add: Pro rata share of NOI from equity method investments 1,765

Less: Pro rata share of NOI attributable to noncontrolling interests (18)

1,747

423,820

Adjustments for Pro Rata Non-Cash Items:

Less: Straight-line and other leasing and financing adjustments (23,239)

Add: Above- and below-market rent intangible lease amortization 3,738

Add: Other non-cash items 475

(19,026)

Pro Rata Cash NOI (a)

404,794

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

3,439

Normalized Pro Rata Cash NOI (a)

$ 408,233

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W. P. Carey Inc.

Appendix – Third Quarter 2026

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

Three Months Ended Sep. 30, 2026

Net Income Attributable to W. P. Carey

Net income attributable to W. P. Carey – as reported $ 140,950

Adjustments for Consolidated Operating Expenses

Add: Operating expenses – as reported 209,972

Less: Property expenses, excluding reimbursable tenant costs – as reported (12,002)

Less: Operating property expenses – as reported (9,216)

188,754

Adjustments for Other Consolidated Revenues and Expenses:

Add: Other income and (expenses) – as reported 106,683

Less: Reimbursable property expenses – as reported (17,665)

Add: Provision for income taxes – as reported 10,516

Less: Other lease-related income – as reported (5,726)

Less: Other advisory income and reimbursements – as reported (500)

Less: Asset management fees revenue – as reported (375)

92,933

Other Adjustments:

Less: Straight-line and other leasing and financing adjustments (23,239)

Add: Above- and below-market rent intangible lease amortization 3,738

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

3,439

Add: Adjustments for pro rata ownership 1,927

Less: Income from secured loans receivable (744)

Add: Property expenses, excluding reimbursable tenant costs, non-cash 475

(14,404)

Normalized Pro Rata Cash NOI (a)

$ 408,233

________

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

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

Investing for the Long Run® | 33

W. P. Carey Inc.

Appendix – Third Quarter 2026

Adjusted EBITDA – Last Five Quarters

In thousands.

Three Months Ended

Sep. 30, 2026 Jun. 30, 2026 Mar. 31, 2026 Dec. 31, 2025 Sep. 30, 2025

Net income $ 141,130  $ 185,659  $ 176,496  $ 154,562  $ 141,225

Adjustments to Derive Adjusted EBITDA (a)

Depreciation and amortization 129,137  134,378  136,183  145,339  125,586

Interest expense 80,388  78,979  78,460  75,431  75,226

Other (gains) and losses (b)

41,566  (48,558) (6,791) 10,131  31,011

Straight-line and other leasing and financing adjustments (c)

(23,239) (15,459) (24,178) (20,758) (20,424)

Provision for (benefit from) income taxes 10,516  13,091  14,634  (1,310) 8,495

Stock-based compensation expense 9,968  13,909  7,441  8,650  11,153

Gain on sale of real estate, net (6,960) (5,819) (54,141) (52,791) (44,401)

Impairment charges — real estate 6,127  79,421  40,008  39,690  19,474

Above- and below-market rent intangible lease amortization 3,738  3,706  2,498  941  4,363

Merger and other expenses 540  613  1,180  478  1,021

Other amortization and non-cash charges 472  446  489  467  465

252,253  254,707  195,783  206,268  211,969

Adjustments for Pro Rata Ownership

Real Estate Joint Ventures:

Add: Pro rata share of adjustments for equity method investments (d)

684  (49,421) 3,206  2,961  5,220

Less: Pro rata share of adjustments for amounts attributable to noncontrolling interests (217) (324) (280) (429) (430)

467  (49,745) 2,926  2,532  4,790

Adjustment to normalize for intra-period acquisitions and dispositions (e)

2,177  6,923  4,363  3,312  2,545

Adjusted EBITDA (f)

$ 396,027  $ 397,544  $ 379,568  $ 366,674  $ 360,529

________

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

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

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

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

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

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

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W. P. Carey Inc.

Appendix – Third Quarter 2026

Reconciliation of Net Debt to Adjusted EBITDA

In thousands.

Three Months Ended

Sep. 30, 2026

Adjusted EBITDA (a)

$ 396,027

Adjusted EBITDA (Annualized) $ 1,584,108

As of

Sep. 30, 2026

Total Pro Rata Debt Outstanding (b)

$ 8,888,542

Less: Cash and cash equivalents (143,390)

Net Debt $ 8,745,152

Less: Expected proceeds from unsettled forward equity (c)

(537,534)

Net Debt – Inclusive of Unsettled Forward Equity $ 8,207,618

Net Debt to Adjusted EBITDA (Annualized) 5.5x

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

________

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

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

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

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W. P. Carey Inc.

Appendix – Third Quarter 2026

Disclosures Regarding Non-GAAP and Other Metrics

Non-GAAP Financial Disclosures

FFO and AFFO

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

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.

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.

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W. P. Carey Inc.

Appendix – Third Quarter 2026

Normalized Pro Rata Cash NOI

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

Adjusted EBITDA

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

Other Metrics

Pro Rata Metrics

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

ABR

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

Investing for the Long Run® | 37

EX-99.3

EX-99.3

Filename: investorpresentation3q26.htm · Sequence: 4

investorpresentation3q26

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

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dei_SecurityExchangeName

Namespace Prefix:

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Data Type:

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Balance Type:

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Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

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Period Type:

duration

X

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

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Period Type:

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X

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

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Namespace Prefix:

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