Realty Income Prices $1.0 Billion Offering of Dual-Tranche Senior Unsecured Notes

Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced the pricing of a public offering of $400 million of 4.70% senior unsecured notes due December 15, 2028 (the “2028 Notes”) and $600 million of 4.90% senior unsecured notes due July 15, 2033 (the “2033 notes”). The public offering price for the 2028 Notes was 98.949% of the principal amount for an effective semi-annual yield to maturity of 4.912% and the public offering price for the 2033 Notes was 98.020% of the principal amount for an effective semi-annual yield to maturity of 5.148%. Combined, the notes have a weighted average tenor of approximately 8.0 years and a weighted average semi-annual yield to maturity of 5.054%.

The net proceeds from this offering will be used for general corporate purposes, including but not limited to, the repayment or repurchase of Realty Income’s indebtedness (including borrowings under Realty Income’s $4.25 billion multi-currency revolving credit facility or Realty Income’s multi-currency commercial paper programs), foreign currency or interest rate swaps or other hedging instruments, the development and acquisition of additional properties and other acquisition or business combination transactions, and the expansion and improvement of certain properties in Realty Income’s portfolio.

This offering is expected to close on April 14, 2023, subject to the satisfaction of customary closing conditions.

The active joint book-running managers for the offering are Wells Fargo Securities, Barclays, BNP PARIBAS, Goldman Sachs & Co. LLC and TD Securities.

A copy of the prospectus supplement and prospectus, when available, related to this offering may be obtained by contacting: Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, Email: wfscustomerservice@wellsfargo.com, by telephone (toll free) at 1-800-645-3751; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone: (888) 603-5847 or email: barclaysprospectus@broadridge.com; BNP Paribas Securities Corp., 787 Seventh Avenue, New York, New York 10019, Attn: Syndicate Desk, Email: DL.US.Syndicate.Support@us.bnpparibas.com, by telephone (toll free) at 1-800-854-5674; Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282-2198, by telephone (collect) at 1-866-471-2526 or TD Securities (USA) LLC, 1 Vanderbilt Avenue, 11th Floor, New York, New York 10017, Attn: Transaction Advisory, by telephone (toll free) at (855) 495-9846.

These securities are offered pursuant to a Registration Statement that has become effective under the Securities Act of 1933, as amended. These securities are only offered by means of the prospectus included in the Registration Statement and the prospectus supplement related to the offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer or sale of these securities in any state or other jurisdiction where, or to any person to whom, the offer, solicitation, or sale of these securities would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.