Exhibit 99.2
W. P. Carey Inc.
Supplemental Information
Second Quarter 2026

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

REIT | Real estate investment trust
U.S. | United States
ABR | Contractual minimum annualized base rent
ASC | Accounting Standards Codification
NAREIT | National Association of Real Estate Investment Trusts (an industry trade group)
CPI | Consumer price index
EUR | Euro
EURIBOR | Euro Interbank Offered Rate
CORRA | Canadian Overnight Repo Rate Average
SOFR | Secured Overnight Financing Rate

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

W. P. Carey Inc.
Supplemental Information – Second Quarter 2026

Table of Contents

Overview |
Summary Metrics | 1
Components of Net Asset Value | 3
Financial Results |
Consolidated Statements of Income – Last Five Quarters | 5
FFO and AFFO, Consolidated – Last Five Quarters | 6
Elements of Pro Rata Statement of Income and AFFO Adjustments | 7
Capital Expenditures | 8
Balance Sheets and Capitalization |
Consolidated Balance Sheets | 10
Capitalization | 11
Debt Overview | 12
Debt Maturity | 13
Senior Unsecured Notes | 14
Real Estate |
Investment Activity |
Investment Volume | 16
Capital Investments and Commitments | 18
Dispositions | 19
Joint Ventures | 20
Top 25 Tenants | 21
Diversification by Property Type | 22
Diversification by Tenant Industry | 23
Diversification by Geography | 24
Contractual Rent Increases | 25
Same-Store Analysis | 26
Leasing Activity | 29
Lease Expirations | 30
Appendix |
Normalized Pro Rata Cash NOI | 32
Adjusted EBITDA – Last Five Quarters | 34
Reconciliation of Net Debt to Adjusted EBITDA | 35
Disclosures Regarding Non-GAAP and Other Metrics | 36

W. P. Carey Inc.
Overview – Second Quarter 2026

Summary Metrics

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

Financial Results |  |  |  |  |  |  |  |  |
Revenues, including reimbursable costs – consolidated ($000s) |  |  |  |  |  | $ | 461,064 |
Net income attributable to W. P. Carey ($000s) |  |  |  |  |  | 185,389 |
Net income attributable to W. P. Carey per diluted share |  |  |  |  |  | 0.82 |
Normalized pro rata cash NOI ($000s) (a) (b) |  |  |  |  |  | 404,064 |
Adjusted EBITDA ($000s) (a) (b) |  |  |  |  |  | 397,544 |
AFFO attributable to W. P. Carey ($000s) (a) (b) |  |  |  |  |  | 305,444 |
AFFO attributable to W. P. Carey per diluted share (a) (b) |  |  |  |  |  | 1.34 |
Dividends declared per share – current quarter |  |  |  |  |  | 0.940 |
Dividends declared per share – current quarter annualized |  |  |  |  |  | 3.760 |
Dividend yield – annualized, based on quarter end share price of $71.50 |  |  |  |  |  | 5.3 | %
Dividend payout ratio – for the six months ended June 30, 2026 (c) |  |  |  |  |  | 70.6 | %
Balance Sheet and Capitalization |  |  |  |  |  |  |  |  |
Equity market capitalization – based on quarter end share price of $71.50 ($000s) |  |  |  |  |  | $ | 16,288,218 |
Net debt ($000s) (d) |  |  |  |  |  |  |  |  | 8,791,374 |
Enterprise value ($000s) |  |  |  |  |  |  |  |  | 25,079,592 |
Total consolidated debt ($000s) |  |  |  |  |  |  |  |  | 8,851,851 |
Gross assets ($000s) (e) |  |  |  |  |  |  |  |  | 20,785,367 |
Liquidity ($000s) (f) |  |  |  |  |  |  |  |  | 2,735,877 |
Net debt to enterprise value (b) |  |  |  |  |  |  |  |  | 35.1 | %
Net debt to adjusted EBITDA (annualized) (a) (b) |  |  |  |  |  | 5.5x
Net debt to adjusted EBITDA (annualized) – inclusive of unsettled forward equity (a) (b) (g) |  |  |  |  |  | 5.1x
Total consolidated debt to gross assets |  |  |  |  |  |  |  |  | 42.6 | %
Total consolidated secured debt to gross assets |  |  |  |  |  |  |  |  | 0.9 | %
Weighted-average interest rate – for the three months ended June 30, 2026 (b) |  |  |  |  |  |  |  | 3.2 | %
Weighted-average interest rate – as of June 30, 2026 (b) |  |  |  |  |  |  |  |  | 3.2 | %
Weighted-average debt maturity (years) (b) |  |  |  |  |  |  |  |  | 4.5 |
Moody's Investors Service – issuer rating |  |  |  |  |  |  |  |  | Baa1 (stable)
Standard & Poor's Ratings Services – issuer rating |  |  |  |  |  |  |  |  | BBB+ (stable)
Real Estate Portfolio (Pro Rata) |  |  |  |  |  |  |  |  |
ABR – total portfolio ($000s) (h) |  |  |  |  |  |  |  |  | $ | 1,642,915 |
Number of net-leased properties |  |  |  |  |  |  |  |  | 1,748 |
Number of operating properties (i) |  |  |  |  |  |  |  |  | 5 |
Number of tenants – net-leased properties |  |  |  |  |  |  |  |  | 384 |
ABR from top ten tenants as a % of total ABR – net-leased properties |  |  |  |  |  | 18.1 | %
ABR from investment grade tenants as a % of total ABR – net-leased properties (j) |  |  |  |  |  | 22.7 | %
Contractual same-store growth (k) |  |  |  |  |  |  |  |  | 2.6 | %
Net-leased properties – square footage (millions) |  |  |  |  |  |  |  |  | 188.5 |
Occupancy – net-leased properties |  |  |  |  |  |  |  |  | 98.5 | %
Weighted-average lease term (years) |  |  |  |  |  |  |  |  | 12.2 |
Investment volume – current quarter ($000s) |  |  |  | $ | 706,463 |
Dispositions – current quarter ($000s) |  |  |  |  |  |  |  |  | 83,651 |
Maximum commitment for capital investments and commitments expected to be completed during 2026 ($000s) |  |  |  | 132,694 |

________

|  | Investing for the Long Run® | 1

W. P. Carey Inc.
Overview – Second Quarter 2026
(a)Normalized pro rata cash NOI, adjusted EBITDA and AFFO are non-GAAP measures. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of our non-GAAP measures and for details on how certain non-GAAP measures are calculated.
(b)Presented on a pro rata basis. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.
(c)Represents dividends declared per share divided by AFFO per diluted share on a year-to-date basis.
(d)Represents total pro rata debt outstanding less consolidated cash and cash equivalents. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.
(e)Gross assets represent consolidated total assets before accumulated depreciation on buildings and improvements. Gross assets are net of accumulated amortization on in-place lease intangible assets of $1.0 billion and above-market rent intangible assets of $500.5 million.
(f)Represents (i) availability under our Senior Unsecured Credit Facility (net of amounts reserved for standby letters of credit), (ii) consolidated cash and cash equivalents, and (iii) available proceeds under our forward equity agreements (based on 9,914,031 remaining shares and total expected net proceeds of $690.7 million as of June 30, 2026, which will be updated at each quarter end).
(g)Reflects the impact of 9,914,031 shares of unsettled forward equity, as if they had been settled for cash, for total expected net proceeds of $690.7 million as of June 30, 2026.
(h)See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of ABR.
(i)Comprises four hotels and one student housing property.
(j)Percentage of portfolio is based on ABR, as of June 30, 2026. Includes tenants or guarantors with investment grade ratings (16.3%) and subsidiaries of non-guarantor parent companies with investment grade ratings (6.4%). Investment grade refers to an entity with a rating of BBB- or higher from Standard & Poor’s Ratings Services or Baa3 or higher from Moody’s Investors Service. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of ABR.
(k)See the Same-Store Analysis section for a description of contractual same-store growth.

|  | Investing for the Long Run® | 2

W. P. Carey Inc.
Overview – Second Quarter 2026

Components of Net Asset Value

In thousands.

Normalized Pro Rata Cash NOI (a) (b) |  |  |  |  | Three Months Ended Jun. 30, 2026
Net lease properties |  |  |  |  | $ | 401,029 |
Operating properties (c) |  |  |  | 3,035 |
Total normalized pro rata cash NOI (a) (b) |  |  |  |  | $ | 404,064 |
Balance Sheet – Selected Information (Consolidated Unless Otherwise Stated) |  | As of Jun. 30, 2026
Assets |  |  |  |  |
Book value of real estate excluded from normalized pro rata cash NOI (d) |  |  |  | $ | 154,075 |
Cash and cash equivalents |  |  |  |  | 163,538 |
Las Vegas retail complex construction loan (e) |  |  |  |  | 245,884 |
Other secured loans receivable, net |  |  |  |  | 38,922 |
Other assets, net: |  |  |  |  |
Straight-line rent adjustments |  |  |  |  | $ | 501,172 |
Investment in shares of Lineage (a cold storage REIT) (f) |  |  |  |  | 198,800 |
Deferred charges |  |  |  |  | 73,400 |
Non-rent tenant and other receivables |  |  |  |  | 62,546 |
Office lease right-of-use assets, net |  |  |  |  | 45,845 |
Taxes receivable |  |  |  |  | 39,345 |
Restricted cash, including escrow |  | 32,334 |
Deferred income taxes |  |  |  |  | 26,599 |
Prepaid expenses |  |  |  |  | 24,547 |
Leasehold improvements, furniture and fixtures |  |  |  | 10,217 |
Securities and derivatives |  |  |  |  | 8,375 |
Rent receivables |  |  |  |  | 7,376 |
Due from affiliates |  |  |  | 679 |
Other |  |  |  |  | 10,791 |
Total other assets, net |  | $ | 1,042,026 |
Liabilities |  |  |  |  |
Total pro rata debt outstanding (b) (g) |  |  |  |  | $ | 8,954,912 |
Dividends payable |  |  |  |  | 218,789 |
Deferred income taxes |  |  |  |  | 157,117 |
Accounts payable, accrued expenses and other liabilities: |  |  |  |  |
Accounts payable and accrued expenses |  |  |  |  | $ | 198,419 |
Prepaid and deferred rents |  |  |  |  | 156,149 |
Operating lease liabilities |  |  |  |  | 132,692 |
Tenant security deposits |  |  |  |  | 46,171 |
Accrued taxes payable |  |  |  |  | 41,456 |
Securities and derivatives |  |  |  |  | 5,681 |
Other |  |  |  |  | 40,500 |
Total accounts payable, accrued expenses and other liabilities |  |  |  |  | $ | 621,068 |

________
(a)Normalized pro rata cash NOI is a non-GAAP measure. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of our non-GAAP measures and for details on how they are calculated.
(b)Presented on a pro rata basis. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.
(c)Operating properties include four hotels and one student housing property.
(d)Represents the value of real estate not included in normalized pro rata cash NOI, such as vacant assets, in-progress build-to-suit properties, real estate under construction for certain expansion projects at existing properties and a common equity interest in the Harmon Retail Corner in Las Vegas.
(e)Represents a construction loan for a retail complex in Las Vegas, Nevada, which is included in Equity method investments (as an equity method investment in real estate) on our consolidated balance sheets. See the Investment Activity – Investment Volume section for additional information about this investment.
(f)Our investment in 5,546,547 shares of Lineage is valued on the balance sheet using the closing share price at the end of each quarter, net of an estimated sponsor promote.
(g)Excludes unamortized discount, net totaling $46.6 million and unamortized deferred financing costs totaling $35.1 million as of June 30, 2026.

|  | Investing for the Long Run® | 3

W. P. Carey Inc.
Financial Results
Second Quarter 2026

|  | Investing for the Long Run® | 4

W. P. Carey Inc.
Financial Results – Second Quarter 2026

Consolidated Statements of Income – Last Five Quarters

In thousands, except share and per share amounts.

| Three Months Ended
| Jun. 30, 2026 |  | Mar. 31, 2026 |  | Dec. 31, 2025 |  | Sep. 30, 2025 |  | Jun. 30, 2025
Revenues |  |  |  |  |  |  |  |  |
Real Estate: |  |  |  |  |  |  |  |  |
Lease revenues | $ | 409,661 |  |  | $ | 402,831 |  |  | $ | 389,154 |  |  | $ | 372,087 |  |  | $ | 364,195 |
Income from finance leases and loans receivable | 27,162 |  |  | 27,686 |  |  | 26,716 |  |  | 26,498 |  |  | 20,276 |
Operating property revenues | 11,638 |  |  | 12,050 |  |  | 18,379 |  |  | 26,771 |  |  | 34,287 |
Other lease-related income | 11,209 |  |  | 10,452 |  |  | 8,137 |  |  | 3,660 |  |  | 9,643 |
| 459,670 |  |  | 453,019 |  |  | 442,386 |  |  | 429,016 |  |  | 428,401 |
Investment Management: |  |  |  |  |  |  |  |  |
Other advisory income and reimbursements | 1,000 |  |  | 1,000 |  |  | 1,076 |  |  | 1,069 |  |  | 1,072 |
Asset management revenue | 394 |  |  | 490 |  |  | 1,085 |  |  | 1,218 |  |  | 1,304 |
| 1,394 |  |  | 1,490 |  |  | 2,161 |  |  | 2,287 |  |  | 2,376 |
| 461,064 |  |  | 454,509 |  |  | 444,547 |  |  | 431,303 |  |  | 430,777 |
Operating Expenses |  |  |  |  |  |  |  |  |
Depreciation and amortization | 134,378 |  |  | 136,183 |  |  | 145,339 |  |  | 125,586 |  |  | 120,595 |
Impairment charges — real estate | 79,421 |  |  | 40,008 |  |  | 39,690 |  |  | 19,474 |  |  | 4,349 |
General and administrative | 25,934 |  |  | 27,348 |  |  | 25,899 |  |  | 23,656 |  |  | 24,150 |
Reimbursable tenant costs | 19,472 |  |  | 19,692 |  |  | 19,371 |  |  | 14,562 |  |  | 17,718 |
Property expenses, excluding reimbursable tenant costs | 15,206 |  |  | 14,552 |  |  | 13,859 |  |  | 14,637 |  |  | 13,623 |
Stock-based compensation expense | 13,909 |  |  | 7,441 |  |  | 8,650 |  |  | 11,153 |  |  | 10,943 |
Operating property expenses | 8,603 |  |  | 8,694 |  |  | 11,863 |  |  | 15,049 |  |  | 16,721 |
Merger and other expenses | 613 |  |  | 1,180 |  |  | 478 |  |  | 1,021 |  |  | 192 |
| 297,536 |  |  | 255,098 |  |  | 265,149 |  |  | 225,138 |  |  | 208,291 |
Other Income and Expenses |  |  |  |  |  |  |  |  |
Interest expense | (78,979) |  |  | (78,460) |  |  | (75,431) |  |  | (75,226) |  |  | (71,795) |
Earnings from equity method investments (a) | 55,579 |  |  | 4,543 |  |  | 4,109 |  |  | 2,361 |  |  | 6,161 |
Other gains and (losses) (b) | 48,558 |  |  | 6,791 |  |  | (10,131) |  |  | (31,011) |  |  | (148,768) |
Gain on sale of real estate, net | 5,819 |  |  | 54,141 |  |  | 52,791 |  |  | 44,401 |  |  | 52,824 |
Non-operating income (c) | 4,245 |  |  | 4,704 |  |  | 2,516 |  |  | 3,030 |  |  | 3,495 |
| 35,222 |  |  | (8,281) |  |  | (26,146) |  |  | (56,445) |  |  | (158,083) |
Income before income taxes | 198,750 |  |  | 191,130 |  |  | 153,252 |  |  | 149,720 |  |  | 64,403 |
(Provision for) benefit from income taxes | (13,091) |  |  | (14,634) |  |  | 1,310 |  |  | (8,495) |  |  | (13,091) |
Net Income | 185,659 |  |  | 176,496 |  |  | 154,562 |  |  | 141,225 |  |  | 51,312 |
Net income attributable to noncontrolling interests (d) | (270) |  |  | (194) |  |  | (6,243) |  |  | (229) |  |  | (92) |
Net Income Attributable to W. P. Carey | $ | 185,389 |  |  | $ | 176,302 |  |  | $ | 148,319 |  |  | $ | 140,996 |  |  | $ | 51,220 |
Basic Earnings Per Share | $ | 0.82 |  |  | $ | 0.80 |  |  | $ | 0.67 |  |  | $ | 0.64 |  |  | $ | 0.23 |
Diluted Earnings Per Share | $ | 0.82 |  |  | $ | 0.80 |  |  | $ | 0.67 |  |  | $ | 0.64 |  |  | $ | 0.23 |
Weighted-Average Shares Outstanding |  |  |  |  |  |  |  |  |
Basic | 225,971,719 |  |  | 220,620,496 |  |  | 220,469,827 |  |  | 220,562,909 |  |  | 220,569,259 |
Diluted | 227,215,203 |  |  | 221,618,296 |  |  | 221,169,776 |  |  | 221,087,833 |  |  | 220,874,935 |
Dividends Declared Per Share | $ | 0.940 |  |  | $ | 0.930 |  |  | $ | 0.920 |  |  | $ | 0.910 |  |  | $ | 0.900 |

________
(a)Amount for the three months ended June 30, 2026 includes our $49.9 million proportionate share of a gain recognized on the sale of a portfolio by a jointly owned investment.
(b)Amount for the three months ended June 30, 2026 primarily comprises a mark-to-market unrealized gain for our investment in shares of Lineage of $41.6 million, net gains on foreign currency exchange rate movements of $10.8 million and a non-cash allowance for credit losses of $6.4 million.
(c)Amount for the three months ended June 30, 2026 comprises a dividend of $2.9 million from our investment in shares of Lineage, interest income on deposits of $0.8 million and realized gains on foreign currency exchange derivatives of $0.5 million.
(d)Amount for the three months ended December 31, 2025 includes a noncontrolling interest’s $6.0 million share of a gain on sale of real estate.

|  | Investing for the Long Run® | 5

W. P. Carey Inc.
Financial Results – Second Quarter 2026

FFO and AFFO, Consolidated – Last Five Quarters

In thousands, except share and per share amounts.

| Three Months Ended
| Jun. 30, 2026 |  | Mar. 31, 2026 |  | Dec. 31, 2025 |  | Sep. 30, 2025 |  | Jun. 30, 2025
Net income attributable to W. P. Carey | $ | 185,389 |  |  | $ | 176,302 |  |  | $ | 148,319 |  |  | $ | 140,996 |  |  | $ | 51,220 |
Adjustments: |  |  |  |  |  |  |  |  |
Depreciation and amortization of real property | 133,663 |  |  | 135,480 |  |  | 144,641 |  |  | 124,906 |  |  | 119,930 |
Impairment charges — real estate | 79,421 |  |  | 40,008 |  |  | 39,690 |  |  | 19,474 |  |  | 4,349 |
Gain on sale of real estate, net | (5,819) |  |  | (54,141) |  |  | (52,791) |  |  | (44,401) |  |  | (52,824) |
Proportionate share of adjustments to earnings from equity method investments (a) (b) | (50,133) |  |  | 2,263 |  |  | 2,255 |  |  | 2,271 |  |  | 2,231 |
Proportionate share of adjustments for noncontrolling interests (c) (d) | (26) |  |  | (25) |  |  | 5,958 |  |  | (82) |  |  | (82) |
Total adjustments | 157,106 |  |  | 123,585 |  |  | 139,753 |  |  | 102,168 |  |  | 73,604 |
FFO (as defined by NAREIT) Attributable to W. P. Carey (e) | 342,495 |  |  | 299,887 |  |  | 288,072 |  |  | 243,164 |  |  | 124,824 |
Adjustments: |  |  |  |  |  |  |  |  |
Other (gains) and losses (f) | (48,558) |  |  | (6,791) |  |  | 10,131 |  |  | 31,011 |  |  | 148,768 |
Straight-line and other leasing and financing adjustments | (15,459) |  |  | (24,178) |  |  | (20,758) |  |  | (20,424) |  |  | (15,374) |
Stock-based compensation | 13,909 |  |  | 7,441 |  |  | 8,650 |  |  | 11,153 |  |  | 10,943 |
Amortization of deferred financing costs | 5,292 |  |  | 5,139 |  |  | 4,888 |  |  | 4,874 |  |  | 4,628 |
Above- and below-market rent intangible lease amortization, net | 3,706 |  |  | 2,498 |  |  | 941 |  |  | 4,363 |  |  | 5,061 |
Tax expense (benefit) — deferred and other | 2,617 |  |  | 2,727 |  |  | (11,708) |  |  | (1,215) |  |  | 2,820 |
Merger and other expenses | 613 |  |  | 1,180 |  |  | 478 |  |  | 1,021 |  |  | 192 |
Other amortization and non-cash items | 548 |  |  | 593 |  |  | 589 |  |  | 587 |  |  | 579 |
Proportionate share of adjustments to earnings from equity method investments (a) | 303 |  |  | 213 |  |  | (43) |  |  | 2,194 |  |  | 309 |
Proportionate share of adjustments for noncontrolling interests (c) | (22) |  |  | (52) |  |  | (116) |  |  | (99) |  |  | (80) |
Total adjustments | (37,051) |  |  | (11,230) |  |  | (6,948) |  |  | 33,465 |  |  | 157,846 |
AFFO Attributable to W. P. Carey (e) | $ | 305,444 |  |  | $ | 288,657 |  |  | $ | 281,124 |  |  | $ | 276,629 |  |  | $ | 282,670 |
Summary |  |  |  |  |  |  |  |  |
FFO (as defined by NAREIT) attributable to W. P. Carey (e) | $ | 342,495 |  |  | $ | 299,887 |  |  | $ | 288,072 |  |  | $ | 243,164 |  |  | $ | 124,824 |
FFO (as defined by NAREIT) attributable to W. P. Carey per diluted share (e) | $ | 1.51 |  |  | $ | 1.35 |  |  | $ | 1.30 |  |  | $ | 1.10 |  |  | $ | 0.57 |
AFFO attributable to W. P. Carey (e) | $ | 305,444 |  |  | $ | 288,657 |  |  | $ | 281,124 |  |  | $ | 276,629 |  |  | $ | 282,670 |
AFFO attributable to W. P. Carey per diluted share (e) | $ | 1.34 |  |  | $ | 1.30 |  |  | $ | 1.27 |  |  | $ | 1.25 |  |  | $ | 1.28 |
Diluted weighted-average shares outstanding | 227,215,203 |  |  | 221,618,296 |  |  | 221,169,776 |  |  | 221,087,833 |  |  | 220,874,935 |

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

|  | Investing for the Long Run® | 6

W. P. Carey Inc.
Financial Results – Second Quarter 2026

Elements of Pro Rata Statement of Income and AFFO Adjustments

In thousands. For the three months ended June 30, 2026.
We believe that the table below is useful for investors to help them better understand our business by illustrating the impact of each of our AFFO adjustments on our GAAP statement of income line items. This presentation is not an alternative to the GAAP statement of income, nor is AFFO an alternative to net income as determined by GAAP.

| Equity Method Investments (a) |  | Noncontrolling Interests (b) |  | AFFO Adjustments |
Revenues |  |  |  |  |  |
Real Estate: |  |  |  |  |  |
Lease revenues | $ | 4,885 |  |  | $ | (86) |  |  | $ | (10,725) |  | (c)
Income from finance leases and loans receivable | 96 |  |  | (105) |  |  | (1,032) |  |
Operating property revenues | — |  |  |  |  | — |  |
Other lease-related income | 31 |  |  | — |  |  | — |  |
Investment Management: |  |  |  |  |  |
Other advisory income and reimbursements | — |  |  | — |  |  | — |  |
Asset management revenue | — |  |  | — |  |  | — |  |
Operating Expenses |  |  |  |  |  |
Depreciation and amortization | 1,108 |  |  | (25) |  |  | (134,848) |  | (d)
Impairment charges — real estate | — |  |  | — |  |  | (79,421) |  | (e)
General and administrative | — |  |  | — |  |  | — |  |
Reimbursable tenant costs | 849 |  |  | (31) |  |  | — |  |
Property expenses, excluding reimbursable tenant costs | 398 |  |  | 1 |  |  | (454) |  | (e)
Stock-based compensation expense | — |  |  | — |  |  | (13,909) |  | (e)
Operating property expenses | — |  |  | — |  |  | — |  | (e)
Merger and other expenses | — |  |  | — |  |  | (613) |  |
Other Income and Expenses |  |  |  |  |  |
Interest expense | (422) |  |  | — |  |  | 5,295 |  | (f)
Gain on sale of real estate, net | 49,909 |  |  | — |  |  | (55,728) |  | (g)
Other gains and (losses) | (76) |  |  | 24 |  |  | (48,506) |  | (h)
Non-operating income | 96 |  |  | — |  |  | — |  |
Earnings from equity method investments | (52,061) |  |  | — |  |  | (1,216) |  | (g) (i)
Provision for income taxes | (103) |  |  | (1) |  |  | 2,722 |  | (j)
Net income attributable to noncontrolling interests | — |  |  | 113 |  |  | — |  |

________
(a)Represents the break-out by line item of amounts recorded in Earnings from equity method investments.
(b)Represents the break-out by line item of amounts recorded in Net income attributable to noncontrolling interests.
(c)Represents the reversal of amortization of above- or below-market lease intangibles of $3.7 million and the elimination of non-cash amounts related to straight-line rent and other of $14.4 million.
(d)Adjustment is a non-cash adjustment excluding corporate depreciation and amortization.
(e)Adjustment to exclude a non-cash item.
(f)Represents the elimination of non-cash components of interest expense, such as deferred financing costs, debt premiums and discounts.
(g)Adjustments reflect our $49.9 million proportionate share of a gain recognized on the sale of a portfolio by a jointly owned investment.
(h)Primarily represents eliminations of gains (losses) on the mark-to-market fair value of equity securities, foreign currency exchange rate movements, changes in the non-cash allowance for credit losses on loans receivable and finance leases, and extinguishment of debt.
(i)Adjustments to include our pro rata share of AFFO adjustments from equity method investments.
(j)Primarily represents the elimination of deferred taxes.

|  | Investing for the Long Run® | 7

W. P. Carey Inc.
Financial Results – Second Quarter 2026

Capital Expenditures

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

Turnover Costs (a) |
Tenant improvements | $ | 1,160 |
Leasing costs | 959 |
Total Tenant Improvements and Leasing Costs | 2,119 |
Property improvements — net-lease properties | 253 |
Property improvements — operating properties | 174 |
Total Turnover Costs | $ | 2,546 |
Maintenance Capital Expenditures |
Net-lease properties | $ | 8,188 |
Operating properties | 296 |
Total Maintenance Capital Expenditures | $ | 8,484 |

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

|  | Investing for the Long Run® | 8

W. P. Carey Inc.
Balance Sheets and Capitalization
Second Quarter 2026

|  | Investing for the Long Run® | 9

W. P. Carey Inc.
Balance Sheets and Capitalization – Second Quarter 2026

Consolidated Balance Sheets

In thousands, except share and per share amounts.

| June 30, 2026 |  | December 31, 2025
Assets |  |  |
Investments in real estate: |  |  |
Land, buildings and improvements — net lease and other | $ | 15,222,867 |  |  | $ | 14,451,306 |
Land, buildings and improvements — operating properties | 181,694 |  |  | 286,079 |
Net investments in finance leases and loans receivable | 1,174,274 |  |  | 1,171,886 |
In-place lease intangible assets and other | 2,581,342 |  |  | 2,466,199 |
Above-market rent intangible assets | 653,281 |  |  | 668,707 |
Investments in real estate | 19,813,458 |  |  | 19,044,177 |
Accumulated depreciation and amortization (a) | (3,656,944) |  |  | (3,578,330) |
Assets held for sale, net | 10,441 |  |  | 3,327 |
Net investments in real estate | 16,166,955 |  |  | 15,469,174 |
Equity method investments | 279,503 |  |  | 310,178 |
Cash and cash equivalents | 163,538 |  |  | 155,329 |
Other assets, net | 1,042,026 |  |  | 1,068,480 |
Goodwill | 982,611 |  |  | 987,071 |
Total assets | $ | 18,634,633 |  |  | $ | 17,990,232 |
Liabilities and Equity |  |  |
Debt: |  |  |
Senior unsecured notes, net | $ | 7,376,851 |  |  | $ | 6,950,261 |
Unsecured term loans, net | 1,164,524 |  |  | 1,196,366 |
Unsecured revolving credit facility | 116,230 |  |  | 435,417 |
Non-recourse mortgages, net | 194,246 |  |  | 140,646 |
Debt, net | 8,851,851 |  |  | 8,722,690 |
Accounts payable, accrued expenses and other liabilities | 621,068 |  |  | 670,038 |
Below-market rent and other intangible liabilities, net | 97,192 |  |  | 104,055 |
Deferred income taxes | 157,117 |  |  | 151,820 |
Dividends payable | 218,789 |  |  | 207,487 |
Total liabilities | 9,946,017 |  |  | 9,856,090 |
Preferred stock, $0.001 par value, 50,000,000 shares authorized; none issued | — |  |  | — |
Common stock, $0.001 par value, 450,000,000 shares authorized; 227,807,251 and 219,145,876 shares, respectively, issued and outstanding | 228 |  |  | 219 |
Additional paid-in capital | 12,418,948 |  |  | 11,830,737 |
Distributions in excess of accumulated earnings | (3,605,214) |  |  | (3,539,592) |
Deferred compensation obligation | 100,172 |  |  | 80,239 |
Accumulated other comprehensive loss | (241,737) |  |  | (253,346) |
Total stockholders' equity | 8,672,397 |  |  | 8,118,257 |
Noncontrolling interests | 16,219 |  |  | 15,885 |
Total equity | 8,688,616 |  |  | 8,134,142 |
Total liabilities and equity | $ | 18,634,633 |  |  | $ | 17,990,232 |

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

|  | Investing for the Long Run® | 10

W. P. Carey Inc.
Balance Sheets and Capitalization – Second Quarter 2026

Capitalization

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

Description |  | Shares |  | Share Price |  | Market Value
Equity |  |  |  |  |  |  |
Common equity |  |  |  | 227,807,251 |  |  | $ | 71.50 |  |  | $ | 16,288,218 |
Preferred equity |  |  |  |  |  |  |  | — |
Total Equity Market Capitalization |  |  |  |  |  | 16,288,218 |
|  |  |  |  |  |  |  | Outstanding Balance (a)
Pro Rata Debt |  |  |  |  |  |  |
Non-recourse mortgages |  |  |  |  |  |  |  | 217,988 |
Unsecured term loans (due February 14, 2028) |  |  |  |  |  | 600,969 |
Unsecured term loan (due April 24, 2029) |  |  |  |  |  | 569,700 |
Unsecured revolving credit facility (due February 14, 2029) |  |  |  |  |  |  | 116,230 |
Senior unsecured notes: (b) |  |  |  |  |  |  |
Due October 1, 2026 (USD) (c) |  |  |  |  |  |  |  | 350,000 |
Due April 15, 2027 (EUR) |  |  |  |  |  |  |  | 569,700 |
Due April 15, 2028 (EUR) |  |  |  |  |  |  |  | 569,700 |
Due July 15, 2029 (USD) |  |  |  |  |  |  |  | 325,000 |
Due September 28, 2029 (EUR) |  |  |  |  |  |  |  | 170,910 |
Due June 1, 2030 (EUR) |  |  |  |  |  |  |  | 598,185 |
Due July 15, 2030 (USD) |  |  |  |  |  |  |  | 400,000 |
Due February 1, 2031 (USD) |  |  |  |  |  |  |  | 500,000 |
Due October 2, 2031 (EUR) |  |  |  |  |  |  |  | 569,700 |
Due February 1, 2032 (USD) |  |  |  |  |  |  |  | 350,000 |
Due July 23, 2032 (EUR) |  |  |  |  |  |  |  | 740,610 |
Due September 28, 2032 (EUR) |  |  |  |  |  |  |  | 227,880 |
Due April 1, 2033 (USD) |  |  |  |  |  |  |  | 425,000 |
Due June 30, 2034 (USD) |  |  |  |  |  |  |  | 400,000 |
Due November 19, 2034 (EUR) |  |  |  |  |  |  |  | 683,640 |
Due May 10, 2035 (EUR) |  |  |  |  |  |  |  | 569,700 |
Total Pro Rata Debt |  |  |  |  |  | 8,954,912 |
Total Capitalization |  |  |  |  |  | $ | 25,243,130 |

________
(a)Excludes unamortized discount, net totaling $46.6 million and unamortized deferred financing costs totaling $35.1 million as of June 30, 2026.
(b)Excludes $350 million of senior unsecured notes due September 15, 2036 that were issued on July 2, 2026.
(c)We are scheduled to prepay our $350 million of 4.250% senior unsecured notes due October 1, 2026 on July 29, 2026, with no associated prepayment costs.

|  | Investing for the Long Run® | 11

W. P. Carey Inc.
Balance Sheets and Capitalization – Second Quarter 2026

Debt Overview

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

| USD-Denominated |  |  | EUR-Denominated |  |  | Other Currencies (a) |  |  | Total
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Outstanding Balance |  |  |  |
| Out-standing Balance (in USD) |  | Weigh-ted Avg. Interest Rate |  |  | Out-standing Balance (in USD) |  | Weigh-ted Avg. Interest Rate |  |  | Out-standing Balance (in USD) |  | Weigh-ted Avg. Interest Rate |  |  | Amount (in USD) |  | % of Total |  | Weigh-ted Avg. Interest Rate |  | Weigh-ted Avg. Maturity (Years)
Non-Recourse Debt (b) (c) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed (d) | $ | 69,901 |  |  | 4.5 | % |  |  | $ | 32,909 |  |  | 5.5 | % |  |  | $ | 19,729 |  |  | 4.6 | % |  |  | $ | 122,539 |  |  | 1.3 | % |  | 4.8 | % |  | 2.1 |
Floating | — |  |  | — | % |  |  | 95,449 |  |  | 4.3 | % |  |  | — |  |  | — | % |  |  | 95,449 |  |  | 1.1 | % |  | 4.3 | % |  | 4.8 |
Total Pro Rata Non-Recourse Debt | 69,901 |  |  | 4.5 | % |  |  | 128,358 |  |  | 4.6 | % |  |  | 19,729 |  |  | 4.6 | % |  |  | 217,988 |  |  | 2.4 | % |  | 4.5 | % |  | 3.3 |
Recourse Debt (b) (c) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed – Senior unsecured notes: (e) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Due October 1, 2026 (f) | 350,000 |  |  | 4.3 | % |  |  | — |  |  | — | % |  |  | — |  |  | — | % |  |  | 350,000 |  |  | 3.9 | % |  | 4.3 | % |  | 0.3 |
Due April 15, 2027 | — |  |  | — | % |  |  | 569,700 |  |  | 2.1 | % |  |  | — |  |  | — | % |  |  | 569,700 |  |  | 6.4 | % |  | 2.1 | % |  | 0.8 |
Due April 15, 2028 | — |  |  | — | % |  |  | 569,700 |  |  | 1.4 | % |  |  | — |  |  | — | % |  |  | 569,700 |  |  | 6.4 | % |  | 1.4 | % |  | 1.8 |
Due July 15, 2029 | 325,000 |  |  | 3.9 | % |  |  | — |  |  | — | % |  |  | — |  |  | — | % |  |  | 325,000 |  |  | 3.6 | % |  | 3.9 | % |  | 3.0 |
Due September 28, 2029 | — |  |  | — | % |  |  | 170,910 |  |  | 3.4 | % |  |  | — |  |  | — | % |  |  | 170,910 |  |  | 1.9 | % |  | 3.4 | % |  | 3.2 |
Due June 1, 2030 | — |  |  | — | % |  |  | 598,185 |  |  | 1.0 | % |  |  | — |  |  | — | % |  |  | 598,185 |  |  | 6.7 | % |  | 1.0 | % |  | 3.9 |
Due July 15, 2030 | 400,000 |  |  | 4.7 | % |  |  | — |  |  | — | % |  |  | — |  |  | — | % |  |  | 400,000 |  |  | 4.5 | % |  | 4.7 | % |  | 4.0 |
Due February 1, 2031 | 500,000 |  |  | 2.4 | % |  |  | — |  |  | — | % |  |  | — |  |  | — | % |  |  | 500,000 |  |  | 5.6 | % |  | 2.4 | % |  | 4.6 |
Due October 2, 2031 | — |  |  | — | % |  |  | 569,700 |  |  | 3.3 | % |  |  | — |  |  | — | % |  |  | 569,700 |  |  | 6.4 | % |  | 3.3 | % |  | 5.3 |
Due February 1, 2032 | 350,000 |  |  | 2.5 | % |  |  | — |  |  | — | % |  |  | — |  |  | — | % |  |  | 350,000 |  |  | 3.9 | % |  | 2.5 | % |  | 5.6 |
Due July 23, 2032 | — |  |  | — | % |  |  | 740,610 |  |  | 4.3 | % |  |  | — |  |  | — | % |  |  | 740,610 |  |  | 8.3 | % |  | 4.3 | % |  | 6.1 |
Due September 28, 2032 | — |  |  | — | % |  |  | 227,880 |  |  | 3.7 | % |  |  | — |  |  | — | % |  |  | 227,880 |  |  | 2.4 | % |  | 3.7 | % |  | 6.3 |
Due April 1, 2033 | 425,000 |  |  | 2.3 | % |  |  | — |  |  | — | % |  |  | — |  |  | — | % |  |  | 425,000 |  |  | 4.7 | % |  | 2.3 | % |  | 6.8 |
Due June 30, 2034 | 400,000 |  |  | 5.4 | % |  |  | — |  |  | — | % |  |  | — |  |  | — | % |  |  | 400,000 |  |  | 4.5 | % |  | 5.4 | % |  | 8.0 |
Due November 19, 2034 | — |  |  | — | % |  |  | 683,640 |  |  | 3.7 | % |  |  | — |  |  | — | % |  |  | 683,640 |  |  | 7.6 | % |  | 3.7 | % |  | 8.4 |
Due May 10, 2035 | — |  |  | — | % |  |  | 569,700 |  |  | 3.8 | % |  |  | — |  |  | — | % |  |  | 569,700 |  |  | 6.4 | % |  | 3.8 | % |  | 8.9 |
Total Senior Unsecured Notes | 2,750,000 |  |  | 3.6 | % |  |  | 4,700,025 |  |  | 2.9 | % |  |  | — |  |  | — | % |  |  | 7,450,025 |  |  | 83.2 | % |  | 3.1 | % |  | 5.0 |
Swapped to Fixed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured term loan (due April 24, 2029) (g) | — |  |  | — | % |  |  | 569,700 |  |  | 2.8 | % |  |  | — |  |  | — | % |  |  | 569,700 |  |  | 6.4 | % |  | 2.8 | % |  | 2.8 |
Unsecured term loan (due February 14, 2028) (g) | — |  |  | — | % |  |  | — |  |  | — | % |  |  | 356,980 |  |  | 4.7 | % |  |  | 356,980 |  |  | 4.0 | % |  | 4.7 | % |  | 1.6 |
Floating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured revolving credit facility (due February 14, 2029) (h) | 98,000 |  |  | 4.3 | % |  |  | 18,230 |  |  | 2.8 | % |  |  | — |  |  | — | % |  |  | 116,230 |  |  | 1.3 | % |  | 4.1 | % |  | 2.6 |
Unsecured term loan (due February 14, 2028) (i) | — |  |  | — | % |  |  | — |  |  | — | % |  |  | 243,989 |  |  | 3.1 | % |  |  | 243,989 |  |  | 2.7 | % |  | 3.1 | % |  | 1.6 |
Total Recourse Debt | 2,848,000 |  |  | 3.6 | % |  |  | 5,287,955 |  |  | 2.9 | % |  |  | 600,969 |  |  | 4.0 | % |  |  | 8,736,924 |  |  | 97.6 | % |  | 3.2 | % |  | 4.6 |
Total Pro Rata Debt Outstanding | $ | 2,917,901 |  |  | 3.6 | % |  |  | $ | 5,416,313 |  |  | 2.9 | % |  |  | $ | 620,698 |  |  | 4.1 | % |  |  | $ | 8,954,912 |  |  | 100.0 | % |  | 3.2 | % |  | 4.5 |

________
(a)Other currencies include debt denominated in British pound sterling and Canadian dollar.
(b)Debt data is presented on a pro rata basis as of June 30, 2026. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.
(c)Excludes unamortized discount, net totaling $46.6 million and unamortized deferred financing costs totaling $35.1 million as of June 30, 2026.
(d)Includes $32.9 million of non-recourse mortgage debt which is swapped to fixed-rate through mortgage maturity.
(e)Excludes $350 million of senior unsecured notes due September 15, 2036 that were issued on July 2, 2026.
(f)We are scheduled to prepay our $350 million of 4.250% senior unsecured notes due October 1, 2026 on July 29, 2026, with no associated prepayment costs.
(g)Interest rate swap expiration date is December 31, 2027.
(h)We incurred interest on our Unsecured revolving credit facility at SOFR or EURIBOR, plus 0.685% for all base rates as of June 30, 2026. Each has a floor of 0.00% under the terms of our credit agreement. Availability under our Unsecured revolving credit facility (net of amounts reserved for standby letters of credit) was approximately $1.9 billion as of June 30, 2026.
(i)We incurred interest at CORRA, plus 0.80% on this Unsecured term loan as of June 30, 2026.

|  | Investing for the Long Run® | 12

W. P. Carey Inc.
Balance Sheets and Capitalization – Second Quarter 2026

Debt Maturity

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

|  | Real Estate |  | Debt
|  | Number of Properties (a) |  |  |  | Weighted-Average Interest Rate |  |  |  | Total Outstanding Balance (b) (c) |  | % of Total Outstanding Balance
Year of Maturity |  |  | ABR (a) |  |  | Balloon |  |
Non-Recourse Debt |  |  |  |  |  |  |  |  |  |  |  |
2027 |  | 3 |  |  | $ | 1,298 |  |  | 4.2 | % |  | $ | 28,264 |  |  | $ | 28,453 |  |  | 0.3 | %
2028 |  | 5 |  |  | 14,100 |  |  | 5.0 | % |  | 72,441 |  |  | 77,260 |  |  | 0.9 | %
2029 |  | 3 |  |  | 1,464 |  |  | 4.0 | % |  | 10,911 |  |  | 11,659 |  |  | 0.1 | %
2031 |  | 20 |  |  | 19,921 |  |  | 4.3 | % |  | 77,192 |  |  | 97,381 |  |  | 1.1 | %
2033 |  | 1 |  |  | 1,504 |  |  | 5.6 | % |  | 1,648 |  |  | 3,235 |  |  | — | %
Total Pro Rata Non-Recourse Debt |  | 32 |  |  | $ | 38,287 |  |  | 4.5 | % |  | $ | 190,456 |  |  | 217,988 |  |  | 2.4 | %
Recourse Debt |  |  |  |  |  |  |  |  |  |  |  |
Fixed – Senior unsecured notes: (d) |  |  |  |  |  |  |  |  |  |  |  |
Due October 1, 2026 (USD) (e) |  | 4.3 | % |  |  |  | 350,000 |  |  | 3.9 | %
Due April 15, 2027 (EUR) |  | 2.1 | % |  |  |  | 569,700 |  |  | 6.4 | %
Due April 15, 2028 (EUR) |  | 1.4 | % |  |  |  | 569,700 |  |  | 6.4 | %
Due July 15, 2029 (USD) |  | 3.9 | % |  |  |  | 325,000 |  |  | 3.6 | %
Due September 28, 2029 (EUR) |  |  |  |  |  | 3.4 | % |  |  |  | 170,910 |  |  | 1.9 | %
Due June 1, 2030 (EUR) |  | 1.0 | % |  |  |  | 598,185 |  |  | 6.7 | %
Due July 15, 2030 (USD) |  |  |  |  |  | 4.7 | % |  |  |  | 400,000 |  |  | 4.5 | %
Due February 1, 2031 (USD) |  | 2.4 | % |  |  |  | 500,000 |  |  | 5.6 | %
Due October 2, 2031 (EUR) |  |  |  |  |  | 3.3 | % |  |  |  | 569,700 |  |  | 6.4 | %
Due February 1, 2032 (USD) |  | 2.5 | % |  |  |  | 350,000 |  |  | 3.9 | %
Due July 23, 2032 (EUR) |  |  |  |  |  | 4.3 | % |  |  |  | 740,610 |  |  | 8.2 | %
Due September 28, 2032 (EUR) |  |  |  |  |  | 3.7 | % |  |  |  | 227,880 |  |  | 2.5 | %
Due April 1, 2033 (USD) |  | 2.3 | % |  |  |  | 425,000 |  |  | 4.7 | %
Due June 30, 2034 (USD) |  | 5.4 | % |  |  |  | 400,000 |  |  | 4.5 | %
Due November 19, 2034 (EUR) |  | 3.7 | % |  |  |  | 683,640 |  |  | 7.6 | %
Due May 10, 2035 (EUR) |  | 3.8 | % |  |  |  | 569,700 |  |  | 6.4 | %
Total Senior Unsecured Notes |  | 3.1 | % |  |  |  | 7,450,025 |  |  | 83.2 | %
Swapped to Fixed: |  |  |  |  |  |  |  |  |  |  |  |
Unsecured term loan (due April 24, 2029) (f) |  | 2.8 | % |  |  |  | 569,700 |  |  | 6.4 | %
Unsecured term loan (due February 14, 2028) (f) |  | 4.7 | % |  |  |  | 356,980 |  |  | 4.0 | %
Floating: |  |  |  |  |  |  |  |  |  |  |  |
Unsecured revolving credit facility (due February 14, 2029) (g) |  | 4.1 | % |  |  |  | 116,230 |  |  | 1.3 | %
Unsecured term loan (due February 14, 2028) (h) |  | 3.1 | % |  |  |  | 243,989 |  |  | 2.7 | %
Total Recourse Debt |  | 3.2 | % |  |  |  | 8,736,924 |  |  | 97.6 | %
Total Pro Rata Debt Outstanding |  | 3.2 | % |  |  |  | $ | 8,954,912 |  |  | 100.0 | %

________
(a)Represents the number of properties and ABR associated with the debt that is maturing in each respective year.
(b)Debt maturity data is presented on a pro rata basis as of June 30, 2026. See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata. Total outstanding balance includes balloon payments and scheduled amortization for our non-recourse debt.
(c)Excludes unamortized discount, net totaling $46.6 million and unamortized deferred financing costs totaling $35.1 million as of June 30, 2026.
(d)Excludes $350 million of senior unsecured notes due September 15, 2036 that were issued on July 2, 2026.
(e)We are scheduled to prepay our $350 million of 4.250% senior unsecured notes due October 1, 2026 on July 29, 2026, with no associated prepayment costs.
(f)Interest rate swap expiration date is December 31, 2027.
(g)We incurred interest on our Unsecured revolving credit facility at SOFR or EURIBOR, plus 0.685% for all base rates as of June 30, 2026. Each has a floor of 0.00% under the terms of our credit agreement. Availability under our Unsecured revolving credit facility (net of amounts reserved for standby letters of credit) was approximately $1.9 billion as of June 30, 2026.
(h)We incurred interest at CORRA, plus 0.80% on this Unsecured term loan as of June 30, 2026.

|  | Investing for the Long Run® | 13

W. P. Carey Inc.
Balance Sheets and Capitalization – Second Quarter 2026

Senior Unsecured Notes

As of June 30, 2026.
Ratings

|  | Issuer |  | Senior Unsecured Notes
Ratings Agency |  | Rating |  | Outlook |  | Rating
Moody's |  | Baa1 |  | Stable |  | Baa1
Standard & Poor’s |  | BBB+ |  | Stable |  | BBB+

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

Covenant |  | Metric |  | Required |  | As of Jun. 30, 2026
Limitation on the incurrence of debt |  | "Total Debt" / "Total Assets" |  | ≤ 60% |  | 40.0%
Limitation on the incurrence of secured debt |  | "Secured Debt" / "Total Assets" |  | ≤ 40% |  | 0.9%
Limitation on the incurrence of debt based on consolidated EBITDA to annual debt service charge |  | "Consolidated EBITDA" / "Annual Debt Service Charge" |  | ≥ 1.5x |  | 5.0x
Maintenance of unencumbered asset value |  | "Unencumbered Assets" / "Total Unsecured Debt" |  | ≥ 150% |  | 245.1%

|  | Investing for the Long Run® | 14

W. P. Carey Inc.
Real Estate
Second Quarter 2026

|  | Investing for the Long Run® | 15

W. P. Carey Inc.
Real Estate – Second Quarter 2026

Investment Activity – Investment Volume

Dollars in thousands. Pro rata. For the six months ended June 30, 2026.

|  |  |  | Property Type(s) |  | Closing Date / Asset Completion Date |  | Gross Investment Amount |  | Investment Type |  | Lease Term (Years) (a) |  | Gross Square Footage
Tenant |  | Property Location(s) |  |  |  |  |  |
1Q26 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedin Mobility Group (b) |  | Amsterdam, The Netherlands |  | Retail |  | Jan-26 |  | $ | 17,636 |  |  | Build-to-Suit |  | 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, 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 |
Year-to-Date Total |  |  |  |  |  |  |  | 1,288,675 |  |  |  |  | 18 |  |  | 8,872,604 |

|  | Investing for the Long Run® | 16

W. P. Carey Inc.
Real Estate – Second Quarter 2026

Investment Activity – Investment Volume (continued)

Dollars in thousands. Pro rata. For the six months ended June 30, 2026.

|  |  |  | Property Type |  | Loan Origination |  | Loan Maturity Date |  | Funding |  | Outstanding |  | Maximum Commitment
Description |  | Property Location |  |  |  |  | Current Quarter |  | Year to Date |  |
Construction Loan (e)
SW Corner of Las Vegas & Harmon (f) |  | Las Vegas, NV |  | Retail |  | Jun-21 |  | 2027 |  | $ | — |  |  | $ | — |  |  | $ | 245,884 |  |  | $ | 256,887 |
SE Corner of Las Vegas & Harmon (g) |  | Las Vegas, NV |  | Retail |  | Nov-24 |  | 2026 |  | 103 |  |  | 2,359 |  |  | 20,726 |  |  | 23,449 |
SE Corner of Las Vegas & Elvis Presley (g) |  | Las Vegas, NV |  | Retail |  | Nov-24 |  | 2026 |  | 539 |  |  | 779 |  |  | 18,196 |  |  | 25,000 |
Total |  |  |  |  |  |  |  |  |  | 642 |  |  | 3,138 |  |  | 284,806 |  |  | 305,336 |
Year-to-Date Total Investment Volume |  |  |  |  |  | $ | 1,291,813 |  |  |  |  |

________
(a)Total lease terms are based on weighted-average ABR for the investments as of the respective period ends.
(b)Amount reflects the applicable exchange rate on the date of the transaction.
(c)This investment is accounted for as a loan receivable within Net investments in finance leases and loans receivable on our consolidated balance sheets, in accordance with ASC 310, Receivables and ASC 842, Leases.
(d)We acquired these properties from a jointly owned investment in which we owned a 70% interest and accounted for as an equity method investment.
(e)The borrowers for these construction loans retain certain loan maturity extension options.
(f)This construction loan is accounted for as an equity method investment on our consolidated balance sheets, in accordance with U.S. GAAP. Interest income is recognized within Earnings from equity method investments on our consolidated statements of income.
(g)These construction loans are accounted for as secured loans receivable within Net investments in finance leases and loans receivable on our consolidated balance sheets, in accordance with U.S. GAAP. Interest income is recognized within Income from finance leases and loans receivable on our consolidated statements of income.

|  | Investing for the Long Run® | 17

W. P. Carey Inc.
Real Estate – Second Quarter 2026

Investment Activity – Capital Investments and Commitments (a)

Dollars in thousands. Pro rata.

|  |  |  | Primary Transaction Type |  | Property Type |  | Expected Completion / Closing Date |  | Additional Gross Square Footage |  | Lease Term (Years) (b) |  | Funded During Three Months Ended Jun. 30, 2026 (c) |  | Total Funded Through Jun. 30, 2026 |  | Maximum Commitment / Gross Investment Amount
Tenant |  | Location |  |  |  |  |  |  |  |  | Remaining |  | Total
TI Automotive (d) (e) |  | Brampton, Canada |  | Build-to-Suit |  | Industrial |  | Q3 2026 |  | 120,222 |  |  | 20 |  |  | $ | 3,232 |  |  | $ | 10,682 |  |  | $ | 7,133 |  |  | $ | 18,126 |
Nord Anglia (d) |  | Houston, TX |  | Expansion |  | Education |  | Q3 2026 |  | 13,150 |  |  | 20 |  |  | — |  |  | 869 |  |  | 7,601 |  |  | 8,500 |
AEG Presents (f) |  | Austin, TX |  | Build-to-Suit |  | Specialty (Entertainment) |  | Q4 2026 |  | 56,403 |  |  | 30 |  |  | 11,306 |  |  | 24,667 |  |  | 22,889 |  |  | 47,556 |
Novus Foods (d) |  | Delphos, OH |  | Build-to-Suit & Expansion |  | Industrial |  | Q4 2026 |  | 139,250 |  |  | 25 |  |  | 9,033 |  |  | 12,358 |  |  | 25,471 |  |  | 38,000 |
Various |  | Various, US |  | Solar Projects |  | Various |  | Various |  | N/A |  | N/A |  | 321 |  |  | 5,429 |  |  | 15,083 |  |  | 20,512 |
Expected Completion Date 2026 Total |  |  |  |  |  | 329,025 |  |  | 26 |  |  | 23,892 |  |  | 54,005 |  |  | 78,177 |  |  | 132,694 |
AEG Presents (f) |  | Portland, OR |  | Build-to-Suit |  | Specialty (Entertainment) |  | Q1 2027 |  | 57,825 |  |  | 30 |  |  | 9,171 |  |  | 27,552 |  |  | 33,161 |  |  | 60,713 |
Untenanted |  | San Leandro, CA |  | Redevelopment |  | Warehouse |  | Q1 2027 |  | 67,440 |  |  | N/A |  | 1,373 |  |  | 2,679 |  |  | 12,539 |  |  | 15,218 |
Untenanted |  | Atlanta, GA |  | Redevelopment |  | Warehouse |  | Q1 2027 |  | 99,000 |  |  | N/A |  | 357 |  |  | 670 |  |  | 11,009 |  |  | 11,679 |
Untenanted |  | Atlanta, GA |  | Redevelopment |  | Warehouse |  | Q2 2027 |  | 432,800 |  |  | N/A |  | 500 |  |  | 1,753 |  |  | 39,019 |  |  | 40,772 |
Ontime (e) |  | Noblejas, Spain |  | Purchase Commitment |  | Industrial |  | Q4 2027 |  | 81,784 |  |  | 19 |  |  | — |  |  | — |  |  | 37,518 |  |  | 37,518 |
Expected Completion Date 2027 Total |  |  |  |  |  | 738,849 |  |  | 25 |  |  | 11,401 |  |  | 32,654 |  |  | 133,246 |  |  | 165,900 |
Capital Investments and Commitments Total |  |  |  |  |  | 1,067,874 |  |  | 25 |  |  | $ | 35,293 |  |  | $ | 86,659 |  |  | $ | 211,423 |  |  | $ | 298,594 |

________
(a)This schedule includes future estimates for which we can give no assurance as to timing or amounts. Completed capital investments and commitments are included in the Investment Activity – Investment Volume section. Funding amounts exclude capitalized construction interest.
(b)Total lease terms are based on weighted-average ABR for the investments expected upon completion.
(c)Total funding during the three months ended June 30, 2026 excludes $0.5 million spent on pre-development work for potential projects in various phases.
(d)We earn interest from this tenant, which is accrued through the construction period and deducted from the remaining commitment.
(e)Commitment amounts are based on the applicable exchange rate at period end.
(f)We own a 90% interest in these joint venture projects and amounts in this table represent our pro rata share.

|  | Investing for the Long Run® | 18

W. P. Carey Inc.
Real Estate – Second Quarter 2026

Investment Activity – Dispositions

Dollars in thousands. Pro rata. For the six months ended June 30, 2026.

Tenant |  | Property Location(s) |  | Gross Sale Price |  | Closing Date |  | Property Type(s) |  | Gross Square Footage
1Q26 |  |  |  |  |  |  |  |  |  |
Vacant (formerly Hellweg) (a) |  | Chemnitz, Germany |  | $ | 3,278 |  |  | Jan-26 |  | Retail |  | 82,699 |
Hellweg (2 properties) (a) |  | Dortmund-Kley and Bonn-Beuel, Germany |  | 6,488 |  |  | Jan-26; Mar-26 |  | Retail |  | 140,330 |
AutoZone |  | St. Louis, MO |  | 391 |  |  | Jan-26 |  | Retail |  | 5,400 |
Vacant |  | Opelika, AL |  | 52,697 |  |  | Feb-26 |  | Warehouse |  | 702,623 |
TI Automotive |  | Gallatin, TN |  | 7,500 |  |  | Feb-26 |  | Industrial |  | 95,920 |
Self-Storage Operating Properties (11 properties) |  | Various, United States |  | 75,160 |  |  | Mar-26 |  | Self-Storage (Operating) |  | 738,942 |
Vacant |  | Oceanside, CA |  | 11,452 |  |  | Mar-26 |  | Warehouse |  | 58,977 |
Vacant (formerly Hellweg) (a) |  | Duisburg, Germany |  | 5,600 |  |  | Mar-26 |  | Retail |  | 85,993 |
1Q26 Total |  |  |  | 162,566 |  |  |  |  |  |  | 1,910,884 |
2Q26 |  |  |  |  |  |  |  |  |  |
Wanbishi (a) |  | Saitama Prefecture, Japan |  | 28,892 |  |  | Apr-26 |  | Warehouse |  | 156,842 |
TI Automotive (a) |  | Windsor, Canada |  | 2,544 |  |  | May-26 |  | Industrial |  | 98,000 |
Vacant |  | Plover, WI |  | 9,100 |  |  | May-26 |  | Warehouse |  | 210,000 |
Vacant (formerly Hellweg) (a) |  | Oberhausen, Germany |  | 5,822 |  |  | May-26 |  | Retail |  | 83,420 |
PPT Industrial Machines |  | Mt. Carmel, IL |  | 2,238 |  |  | May-26 |  | Industrial |  | 128,636 |
Vacant (a) |  | Guelph, Canada |  | 11,086 |  |  | Jun-26 |  | Warehouse |  | 109,968 |
Vacant |  | Toppenish, WA |  | 4,800 |  |  | Jun-26 |  | Warehouse |  | 274,750 |
Vacant (a) |  | Herceghalom, Hungary |  | 15,569 |  |  | Jun-26 |  | Warehouse |  | 508,797 |
ECI |  | Fargo, ND |  | 3,600 |  |  | Jun-26 |  | Industrial |  | 43,700 |
2Q26 Total |  |  |  | 83,651 |  |  |  |  |  |  | 1,614,113 |
Year-to-Date Total Dispositions |  | $ | 246,217 |  |  |  |  |  |  | 3,524,997 |

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

|  | Investing for the Long Run® | 19

W. P. Carey Inc.
Real Estate – Second Quarter 2026

Joint Ventures

Dollars in thousands. As of June 30, 2026.

Joint Venture or JV (Principal Tenant) |  | JV Partnership |  | Consolidated |  | Pro Rata (a)
| Asset Type |  | WPC % |  | Debt Outstanding |  | ABR |  | Debt Outstanding |  | ABR
Unconsolidated Joint Ventures (Equity Method Investments) (b) |  |  |  |  |  |  |  |
Las Vegas Retail Complex (c) |  | Net lease |  | 47.50% |  | $ | 245,884 |  |  | $ | 22,991 |  |  | $ | 116,795 |  |  | $ | 10,921 |
Harmon Retail Corner |  | Common equity interest |  | 15.00% |  | 143,000 |  |  | — |  |  | 21,450 |  |  | — |
Total Unconsolidated Joint Ventures |  |  |  | 388,884 |  |  | 22,991 |  |  | 138,245 |  |  | 10,921 |
Consolidated Joint Ventures (d) |  |  |  |  |  |  |  |  |  |  |
Fentonir (e) |  | Net lease |  | 94.90% |  | — |  |  | 2,859 |  |  | — |  |  | 2,713 |
McCoy Rockford |  | Net lease |  | 90.00% |  | — |  |  | 991 |  |  | — |  |  | 892 |
Iowa Board of Regents |  | Net lease |  | 90.00% |  | — |  |  | 707 |  |  | — |  |  | 636 |
Total Consolidated Joint Ventures |  |  |  | — |  |  | 4,557 |  |  | — |  |  | 4,241 |
Total Unconsolidated and Consolidated Joint Ventures |  | $ | 388,884 |  |  | $ | 27,548 |  |  | $ | 138,245 |  |  | $ | 15,162 |

________
(a)See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.
(b)Excludes an unconsolidated joint venture (Kesko Senukai) in which we have a 70% interest that is in the process of liquidation as a result of the sale of its real estate assets to us. See the Investment Activity – Investment Volume section for additional information.
(c)Debt outstanding for this investment comprises a construction loan, which is excluded from our pro rata debt outstanding disclosed in the Debt Overview and Debt Maturity sections. See the Investment Activity – Investment Volume section for additional information about this investment. The asset is currently in lease-up and ABR reflects the current in-place leases. It does not reflect certain non-reimbursed expenses associated with the property, revenue generated from signage or interest income from our construction loan to the Las Vegas Retail Complex.
(d)Excludes two consolidated joint venture build-to-suit projects with the same tenant in which we own a 90% ownership interest. These investments have no debt or ABR as of June 30, 2026.
(e)Amounts are based on the applicable exchange rate at the end of the period.

|  | Investing for the Long Run® | 20

W. P. Carey Inc.
Real Estate – Second Quarter 2026

Top 25 Tenants

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

Tenant |  | Description |  | Number of Properties |  | ABR |  | ABR % |  | Weighted-Average Lease Term (Years)
Extra Space Storage |  | Net lease self-storage properties in the U.S. leased to publicly traded self-storage REIT |  | 43 |  |  | $ | 42,578 |  |  | 2.6 | % |  | 23.2 |
Apotex (a) |  | Pharmaceutical R&D and manufacturing properties in the Greater Toronto Area leased to generic drug manufacturer |  | 11 |  |  | 34,451 |  |  | 2.1 | % |  | 16.8 |
Life Time Fitness |  | Health and fitness facilities in the U.S. leased to premium athletic club operator |  | 12 |  |  | 32,450 |  |  | 2.0 | % |  | 7.4 |
GardenCore |  | Manufacturing, packaging and industrial outdoor storage (IOS) facilities in the U.S. leased to producer and supplier of mulch and other lawn and garden products |  | 43 |  |  | 29,120 |  |  | 1.8 | % |  | 19.9 |
Metro Italia (b) |  | Business-to-business retail stores in Italy leased to cash and carry wholesaler |  | 18 |  |  | 28,572 |  |  | 1.7 | % |  | 4.8 |
Fortenova (b) |  | Grocery stores and one warehouse in Croatia leased to European food retailer |  | 19 |  |  | 28,363 |  |  | 1.7 | % |  | 7.8 |
OBI (b) |  | Retail properties in Poland leased to German DIY retailer |  | 26 |  |  | 27,052 |  |  | 1.6 | % |  | 7.7 |
Kesko Senukai (b) |  | Distribution facilities and retail properties in Lithuania, Estonia and Latvia leased to European DIY retailer |  | 20 |  |  | 25,501 |  |  | 1.6 | % |  | 5.7 |
Fedrigoni (b) |  | Industrial and warehouse facilities in Germany, Italy and Spain leased to global manufacturer of premium packaging and labels |  | 16 |  |  | 24,744 |  |  | 1.5 | % |  | 17.4 |
TI Automotive (a) (c) |  | Automotive parts manufacturing properties in the U.S., Canada and Mexico leased to OEM supplier |  | 19 |  |  | 24,524 |  |  | 1.5 | % |  | 18.6 |
Top 10 Total |  |  |  | 227 |  |  | 297,355 |  |  | 18.1 | % |  | 13.4 |
Nord Anglia |  | K-12 private schools in Orlando, Miami and Houston leased to international day and boarding school operator |  | 3 |  |  | 24,228 |  |  | 1.5 | % |  | 18.2 |
Eroski (b) |  | Grocery stores and warehouses in Spain leased to Spanish food retailer |  | 63 |  |  | 23,827 |  |  | 1.4 | % |  | 9.7 |
Berry Global |  | Manufacturing facilities in the U.S. leased to international producer and supplier of packaging solutions |  | 8 |  |  | 21,301 |  |  | 1.3 | % |  | 12.3 |
Quikrete (b) |  | Industrial facilities in the U.S. and Canada leased to concrete and building products manufacturer |  | 27 |  |  | 21,035 |  |  | 1.3 | % |  | 17.0 |
Advance Auto Parts |  | Distribution facilities in the U.S. leased to automotive aftermarket parts provider |  | 28 |  |  | 19,929 |  |  | 1.2 | % |  | 6.6 |
Pendragon (b) |  | Dealerships in the United Kingdom leased to automotive retailer |  | 46 |  |  | 18,690 |  |  | 1.1 | % |  | 12.3 |
Dollar General |  | Retail properties in the U.S. leased to discount retailer |  | 129 |  |  | 17,644 |  |  | 1.1 | % |  | 13.0 |
Maker’s Pride |  | Production, packaging and distribution facilities in the U.S. leased to North American contract food manufacturer |  | 18 |  |  | 17,636 |  |  | 1.1 | % |  | 16.1 |
Jumbo (b) |  | Logistics and cold storage warehouse facilities in the Netherlands leased to European supermarket chain |  | 4 |  |  | 15,171 |  |  | 0.9 | % |  | 7.2 |
Danske Fragtmaend (b) |  | Distribution facilities in Denmark leased to Danish freight company |  | 15 |  |  | 14,958 |  |  | 0.9 | % |  | 10.6 |
Top 20 Total |  |  |  | 568 |  |  | 491,774 |  |  | 29.9 | % |  | 13.1 |
Hellweg (b) |  | Retail properties in Germany leased to German DIY retailer |  | 16 |  |  | 14,940 |  |  | 0.9 | % |  | 14.7 |
Intergamma (b) |  | Retail properties in the Netherlands leased to European DIY retailer |  | 36 |  |  | 14,502 |  |  | 0.9 | % |  | 7.1 |
Go Auto (b) |  | Dealerships in Canada leased to automotive retailer |  | 14 |  |  | 13,809 |  |  | 0.8 | % |  | 24.8 |
Rocky Vista University |  | Private medical schools in Colorado, Montana and Utah leased to for-profit medical school operator |  | 5 |  |  | 13,028 |  |  | 0.8 | % |  | 24.9 |
Raben Group (b) |  | Distribution facilities in Poland leased to European logistics company |  | 8 |  |  | 12,794 |  |  | 0.8 | % |  | 14.6 |
Top 25 Total (d) |  |  |  | 647 |  |  | $ | 560,847 |  |  | 34.1 | % |  | 13.5 |

________
(a)ABR from these properties is denominated in U.S. dollars.
(b)ABR amounts are subject to fluctuations in foreign currency exchange rates.
(c)Of the 19 properties leased to TI Automotive, eight are located in Canada, six are located in Mexico, and five are located in the United States.
(d)See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.

|  | Investing for the Long Run® | 21

W. P. Carey Inc.
Real Estate – Second Quarter 2026

Diversification by Property Type

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

|  | Total Net-Lease Portfolio
Property Type |  | ABR |  | ABR % |  | Square Footage (a) |  | Square Footage %
U.S. |  |  |  |  |  |  |  |
Industrial |  | $ | 431,714 |  |  | 26.2 | % |  | 59,923 |  |  | 31.8 | %
Warehouse |  | 236,090 |  |  | 14.4 | % |  | 42,086 |  |  | 22.3 | %
Retail (b) |  | 137,318 |  |  | 8.4 | % |  | 6,449 |  |  | 3.4 | %
Other (c) |  | 192,709 |  |  | 11.7 | % |  | 9,587 |  |  | 5.1 | %
U.S. Total |  | 997,831 |  |  | 60.7 | % |  | 118,045 |  |  | 62.6 | %
International |  |  |  |  |  |  |  |
Industrial |  | 204,832 |  |  | 12.5 | % |  | 26,498 |  |  | 14.0 | %
Warehouse |  | 176,694 |  |  | 10.7 | % |  | 24,964 |  |  | 13.3 | %
Retail (b) |  | 228,255 |  |  | 13.9 | % |  | 17,179 |  |  | 9.1 | %
Other (c) |  | 35,303 |  |  | 2.2 | % |  | 1,812 |  |  | 1.0 | %
International Total |  | 645,084 |  |  | 39.3 | % |  | 70,453 |  |  | 37.4 | %
Total |  |  |  |  |  |  |  |
Industrial |  | 636,546 |  |  | 38.7 | % |  | 86,421 |  |  | 45.8 | %
Warehouse |  | 412,784 |  |  | 25.1 | % |  | 67,050 |  |  | 35.6 | %
Retail (b) |  | 365,573 |  |  | 22.3 | % |  | 23,628 |  |  | 12.5 | %
Other (c) |  | 228,012 |  |  | 13.9 | % |  | 11,399 |  |  | 6.1 | %
Total (d) |  | $ | 1,642,915 |  |  | 100.0 | % |  | 188,498 |  |  | 100.0 | %

________
(a)Includes square footage for vacant properties.
(b)Includes automotive dealerships.
(c)Includes ABR from tenants with the following property types: education facility, specialty, self-storage (net lease), laboratory, research and development, office, hotel (net lease) and land.
(d)See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.

|  | Investing for the Long Run® | 22

W. P. Carey Inc.
Real Estate – Second Quarter 2026

Diversification by Tenant Industry

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

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

________
(a)Industry classification is based on the Global Industry Classification Standard (GICS) framework.
(b)Includes square footage for vacant properties.
(c)See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.

|  | Investing for the Long Run® | 23

W. P. Carey Inc.
Real Estate – Second Quarter 2026

Diversification by Geography

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

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

________
(a)Includes square footage for vacant properties.
(b)Other properties within South include assets in Arkansas, Louisiana, Oklahoma and Mississippi. Other properties within Midwest include assets in Kansas, Minnesota, Iowa, Missouri, Nebraska, South Dakota and North Dakota. Other properties within East include assets in Virginia, Maryland, West Virginia, Connecticut, New Hampshire and Maine. Other properties within West include assets in Utah, Oregon, Colorado, Montana, Hawaii, Idaho, Washington, Wyoming and New Mexico.
(c)$50.9 million (69%) of ABR from properties in Canada is denominated in U.S. dollars, with the balance denominated in Canadian dollars.
(d)All ABR from properties in Mexico is denominated in U.S. dollars.
(e)Includes assets in Slovakia, Belgium, the Czech Republic, Mauritius, Portugal, Latvia, Sweden, Austria, Estonia, Finland and Hungary.
(f)See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.

|  | Investing for the Long Run® | 24

W. P. Carey Inc.
Real Estate – Second Quarter 2026

Contractual Rent Increases

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

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

________
(a)Represents leases which include a percentage rent component. Includes $42.6 million (2.6%) of ABR from a tenant (Extra Space Storage), which has both a percentage rent component and annual fixed rent increases in its lease.
(b)See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.

|  | Investing for the Long Run® | 25

W. P. Carey Inc.
Real Estate – Second Quarter 2026

Same-Store Analysis

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

| ABR
| As of |  |  |  |
| Jun. 30, 2026 |  | Jun. 30, 2025 |  | Increase |  | % Increase
Property Type |  |  |  |  |  |  |
Industrial | $ | 510,045 |  |  | $ | 497,927 |  |  | $ | 12,118 |  |  | 2.4 | %
Warehouse | 329,211 |  |  | 318,846 |  |  | 10,365 |  |  | 3.3 | %
Retail (a) | 284,603 |  |  | 278,838 |  |  | 5,765 |  |  | 2.1 | %
Other (b) | 186,943 |  |  | 182,301 |  |  | 4,642 |  |  | 2.5 | %
Total | $ | 1,310,802 |  |  | $ | 1,277,912 |  |  | $ | 32,890 |  |  | 2.6 | %
Rent Adjustment Measure |  |  |  |  |  |  |
Uncapped CPI | $ | 391,935 |  |  | $ | 383,024 |  |  | $ | 8,911 |  |  | 2.3 | %
Capped CPI | 243,598 |  |  | 236,086 |  |  | 7,512 |  |  | 3.2 | %
CPI-linked | 635,533 |  |  | 619,110 |  |  | 16,423 |  |  | 2.7 | %
Fixed | 624,150 |  |  | 608,903 |  |  | 15,247 |  |  | 2.5 | %
Other (c) | 45,679 |  |  | 44,459 |  |  | 1,220 |  |  | 2.7 | %
None | 5,440 |  |  | 5,440 |  |  | — |  |  | — | %
Total | $ | 1,310,802 |  |  | $ | 1,277,912 |  |  | $ | 32,890 |  |  | 2.6 | %
Geography |  |  |  |  |  |  |
U.S. | $ | 804,370 |  |  | $ | 785,718 |  |  | $ | 18,652 |  |  | 2.4 | %
Europe | 420,948 |  |  | 409,086 |  |  | 11,862 |  |  | 2.9 | %
Other International (d) | 85,484 |  |  | 83,108 |  |  | 2,376 |  |  | 2.9 | %
Total | $ | 1,310,802 |  |  | $ | 1,277,912 |  |  | $ | 32,890 |  |  | 2.6 | %
Same-Store Portfolio Summary |  |  |  |  |  |  |
Number of properties | 1,377 |  |  |  |  |  |  |
Square footage (in thousands) | 153,893 |  |  |  |  |  |  |

|  | Investing for the Long Run® | 26

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

| Same-Store Pro Rata Rental Income
| Three Months Ended |  |  |  |
| Jun. 30, 2026 |  | Jun. 30, 2025 |  | Increase |  | % Increase
Property Type |  |  |  |  |  |  |
Industrial | $ | 123,859 |  |  | $ | 121,208 |  |  | $ | 2,651 |  |  | 2.2 | %
Warehouse | 87,011 |  |  | 87,905 |  |  | (894) |  |  | (1.0) | %
Retail (a) | 74,932 |  |  | 77,504 |  |  | (2,572) |  |  | (3.3) | %
Other (b) | 50,172 |  |  | 48,778 |  |  | 1,394 |  |  | 2.9 | %
Total | $ | 335,974 |  |  | $ | 335,395 |  |  | $ | 579 |  |  | 0.2 | %
Rent Adjustment Measure |  |  |  |  |  |  |
Uncapped CPI | $ | 103,164 |  |  | $ | 106,124 |  |  | $ | (2,960) |  |  | (2.8) | %
Capped CPI | 63,251 |  |  | 62,664 |  |  | 587 |  |  | 0.9 | %
CPI-linked | 166,415 |  |  | 168,788 |  |  | (2,373) |  |  | (1.4) | %
Fixed | 157,081 |  |  | 154,311 |  |  | 2,770 |  |  | 1.8 | %
Other (c) | 11,433 |  |  | 11,185 |  |  | 248 |  |  | 2.2 | %
None | 1,045 |  |  | 1,111 |  |  | (66) |  |  | (5.9) | %
Total | $ | 335,974 |  |  | $ | 335,395 |  |  | $ | 579 |  |  | 0.2 | %
Geography |  |  |  |  |  |  |
U.S. | $ | 203,642 |  |  | $ | 200,907 |  |  | $ | 2,735 |  |  | 1.4 | %
Europe | 110,672 |  |  | 113,621 |  |  | (2,949) |  |  | (2.6) | %
Other International (d) | 21,660 |  |  | 20,867 |  |  | 793 |  |  | 3.8 | %
Total | $ | 335,974 |  |  | $ | 335,395 |  |  | $ | 579 |  |  | 0.2 | %
Same-Store Portfolio Summary |  |  |  |  |  |  |
Number of properties | 1,487 |  |  |  |  |  |  |
Square footage (in thousands) | 161,733 |  |  |  |  |  |  |

|  | Investing for the Long Run® | 27

W. P. Carey Inc.
Real Estate – Second Quarter 2026
The following table presents a reconciliation from lease revenues to same-store pro rata rental income:

| Three Months Ended
| Jun. 30, 2026 |  | Jun. 30, 2025
Consolidated Lease Revenues |  |  |
Total lease revenues – as reported | $ | 409,661 |  |  | $ | 364,195 |
Income from finance leases and loans receivable | 27,162 |  |  | 20,276 |
Less: Reimbursable tenant costs – as reported | (19,472) |  |  | (17,718) |
Less: Income from secured loans receivable | (727) |  |  | (641) |
| 416,624 |  |  | 366,112 |
Adjustments for Pro Rata Ownership of Real Estate Joint Ventures: |  |  |
Add: Pro rata share of adjustments from equity method investments | 4,036 |  |  | 7,059 |
Less: Pro rata share of adjustments for noncontrolling interests | (160) |  |  | (237) |
| 3,876 |  |  | 6,822 |
Adjustments for Pro Rata Non-Cash Items: |  |  |
Less: Straight-line and other leasing and financing adjustments | (15,459) |  |  | (15,374) |
Add: Above- and below-market rent intangible lease amortization | 3,706 |  |  | 5,061 |
Less: Adjustments for pro rata ownership | (9) |  |  | (77) |
| (11,762) |  |  | (10,390) |
Adjustment to normalize for (i) properties not continuously owned since April 1, 2025 and (ii) constant currency presentation for prior year quarter (e) | (72,764) |  |  | (27,149) |
Same-Store Pro Rata Rental Income | $ | 335,974 |  |  | $ | 335,395 |

________
(a)Includes automotive dealerships.
(b)Includes ABR or same-store pro rata rental income from tenants with the following property types: education facility, specialty, self-storage (net lease), laboratory, research and development, office, hotel (net lease) and land.
(c)Represents leases attributable to percentage rent.
(d)Includes assets in Canada, Mexico and Mauritius.
(e)This adjustment excludes amounts attributable to properties that were acquired, sold or listed as capital investments and commitments (see Investment Activity – Capital Investments and Commitments section) that were not continuously owned and in place during the quarter ended June 30, 2025 through June 30, 2026. In addition, for the three months ended June 30, 2025, an adjustment is made to reflect average exchange rates for the three months ended June 30, 2026 for purposes of comparability, since same-store pro rata rental income is presented on a constant currency basis.

|  | Investing for the Long Run® | 28

W. P. Carey Inc.
Real Estate – Second Quarter 2026

Leasing Activity

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

Lease Renewals and Extensions (a) |  |  |  |  |  |  |  | Property and Tenant Improvements (c) |  | Leasing Commissions |  |
|  |  |  |  |  | ABR |  |  |  |
Property Type |  | Square Feet |  | Number of Leases |  | Prior Lease |  | New Lease (b) |  | Rent Recapture |  |  |  | Incremental Lease Term
Industrial |  | 784,133 |  |  | 3 |  |  | $ | 4,398 |  |  | $ | 4,066 |  |  | 92.5 | % |  | $ | 2,165 |  |  | $ | — |  |  | 6.7 years
Warehouse |  | 75,000 |  |  | 1 |  |  | 229 |  |  | 319 |  |  | 139.3 | % |  | — |  |  | — |  |  | 3.0 years
Retail |  | 112,518 |  |  | 2 |  |  | 2,582 |  |  | 2,897 |  |  | 112.2 | % |  | 2,000 |  |  | 400 |  |  | 10.0 years
Other |  | — |  |  | — |  |  | — |  |  | — |  |  | — | % |  | — |  |  | — |  |  | N/A
Total / Weighted Average |  | 971,651 |  |  | 6 |  |  | $ | 7,209 |  |  | $ | 7,282 |  |  | 101.0 | % |  | $ | 4,165 |  |  | $ | 400 |  |  | 7.8 years
Q2 Summary |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior Lease ABR (% of Total Portfolio) |  | 0.4 | % |  |  |  |  |  |  |  |  |  |

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

_______
(a)Excludes lease extensions for a period of one year or less.
(b)New lease amounts are based on in-place rents at time of lease commencement and exclude any free rent periods.
(c)Property and tenant improvements include the estimated landlord obligations in connection with the signing of the lease.
(d)Weighted average refers to the new lease term.

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W. P. Carey Inc.
Real Estate – Second Quarter 2026

Lease Expirations

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

Year of Lease Expiration (a) |  | Number of Leases Expiring |  | Number of Tenants with Leases Expiring |  | ABR |  | ABR % |  | Square Footage |  | Square Footage %
Remaining 2026 |  | 12 |  |  | 12 |  |  | $ | 24,532 |  |  | 1.5 | % |  | 2,512 |  |  | 1.3 | %
2027 |  | 34 |  |  | 23 |  |  | 40,603 |  |  | 2.5 | % |  | 4,247 |  |  | 2.3 | %
2028 |  | 46 |  |  | 28 |  |  | 69,816 |  |  | 4.2 | % |  | 7,657 |  |  | 4.1 | %
2029 |  | 53 |  |  | 39 |  |  | 65,790 |  |  | 4.0 | % |  | 7,446 |  |  | 3.9 | %
2030 |  | 33 |  |  | 28 |  |  | 40,371 |  |  | 2.5 | % |  | 3,880 |  |  | 2.1 | %
2031 |  | 48 |  |  | 30 |  |  | 79,773 |  |  | 4.8 | % |  | 9,612 |  |  | 5.1 | %
2032 |  | 48 |  |  | 25 |  |  | 66,637 |  |  | 4.1 | % |  | 9,135 |  |  | 4.8 | %
2033 |  | 35 |  |  | 26 |  |  | 88,999 |  |  | 5.4 | % |  | 12,001 |  |  | 6.4 | %
2034 |  | 73 |  |  | 28 |  |  | 110,124 |  |  | 6.7 | % |  | 10,887 |  |  | 5.8 | %
2035 |  | 24 |  |  | 20 |  |  | 78,307 |  |  | 4.8 | % |  | 8,805 |  |  | 4.7 | %
2036 |  | 47 |  |  | 22 |  |  | 70,896 |  |  | 4.3 | % |  | 8,323 |  |  | 4.4 | %
2037 |  | 47 |  |  | 24 |  |  | 75,944 |  |  | 4.6 | % |  | 9,300 |  |  | 4.9 | %
2038 |  | 49 |  |  | 16 |  |  | 31,783 |  |  | 1.9 | % |  | 3,045 |  |  | 1.6 | %
2039 |  | 100 |  |  | 27 |  |  | 75,445 |  |  | 4.6 | % |  | 11,329 |  |  | 6.0 | %
Thereafter (>2039) |  | 326 |  |  | 125 |  |  | 723,895 |  |  | 44.1 | % |  | 77,457 |  |  | 41.1 | %
Vacant |  | — |  |  | — |  |  | — |  |  | — | % |  | 2,862 |  |  | 1.5 | %
Total (b) |  | 975 |  |  |  |  | $ | 1,642,915 |  |  | 100.0 | % |  | 188,498 |  |  | 100.0 | %

________
(a)Assumes tenants do not exercise any renewal options or purchase options.
(b)See the Disclosures Regarding Non-GAAP and Other Metrics section in the Appendix for a description of pro rata.

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W. P. Carey Inc.
Appendix
Second Quarter 2026

|  | Investing for the Long Run® | 31

W. P. Carey Inc.
Appendix – Second Quarter 2026

Normalized Pro Rata Cash NOI

In thousands.

| Three Months Ended Jun. 30, 2026
Consolidated Lease Revenues |
Total lease revenues – as reported | $ | 409,661 |
Income from finance leases and loans receivable – as reported | 27,162 |
Less: Income from secured loans receivable | (727) |
Less: Consolidated Reimbursable and Non-Reimbursable Property Expenses |
Reimbursable property expenses – as reported | 19,472 |
Non-reimbursable property expenses – as reported | 15,206 |
| 401,418 |
Plus: NOI from Operating Properties |
Hotel revenues | 10,189 |
Hotel expenses | (7,969) |
| 2,220 |
Student housing and other revenues | 1,449 |
Student housing and other expenses | (634) |
| 815 |
| 404,453 |
Adjustments for Pro Rata Ownership of Real Estate Joint Ventures: |
Add: Pro rata share of NOI from equity method investments | 3,634 |
Less: Pro rata share of NOI attributable to noncontrolling interests | (61) |
| 3,573 |
| 408,026 |
Adjustments for Pro Rata Non-Cash Items: |
Less: Straight-line and other leasing and financing adjustments | (15,459) |
Add: Above- and below-market rent intangible lease amortization | 3,706 |
Add: Other non-cash items | 454 |
| (11,299) |
Pro Rata Cash NOI (a) | 396,727 |
Adjustment to normalize for net lease investments and dispositions (b) | 7,337 |
Normalized Pro Rata Cash NOI (a) | $ | 404,064 |

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W. P. Carey Inc.
Appendix – Second Quarter 2026
The following table presents a reconciliation from Net income attributable to W. P. Carey to Normalized pro rata cash NOI:

| Three Months Ended Jun. 30, 2026
Net Income Attributable to W. P. Carey |
Net income attributable to W. P. Carey – as reported | $ | 185,389 |
Adjustments for Consolidated Operating Expenses |
Add: Operating expenses – as reported | 297,536 |
Less: Property expenses, excluding reimbursable tenant costs – as reported | (15,206) |
Less: Operating property expenses – as reported | (8,603) |
| 273,727 |
Adjustments for Other Consolidated Revenues and Expenses: |
Less: Reimbursable property expenses – as reported | (19,472) |
Add: Provision for income taxes – as reported | 13,091 |
Less: Other lease-related income – as reported | (11,209) |
Add: Other income and (expenses) – as reported | (35,222) |
Less: Other advisory income and reimbursements – as reported | (1,000) |
Less: Asset management fees revenue – as reported | (394) |
| (54,206) |
Other Adjustments: |
Less: Straight-line and other leasing and financing adjustments | (15,459) |
Adjustment to normalize for net lease investments and dispositions (b) | 7,337 |
Add: Adjustments for pro rata ownership | 3,852 |
Add: Above- and below-market rent intangible lease amortization | 3,706 |
Less: Income from secured loans receivable | (727) |
Add: Property expenses, excluding reimbursable tenant costs, non-cash | 445 |
| (846) |
Normalized Pro Rata Cash NOI (a) | $ | 404,064 |

________
(a)Pro rata cash NOI and normalized pro rata cash NOI are non-GAAP measures. See the Disclosures Regarding Non-GAAP and Other Metrics section that follows for a description of our non-GAAP measures and for details on how pro rata cash NOI and normalized pro rata cash NOI are calculated.
(b)For properties acquired and capital investments and commitments completed during the three months ended June 30, 2026, the adjustment modifies our pro rata share of cash NOI for the partial period with an amount estimated to be equivalent to the additional pro rata share of cash NOI necessary to reflect ownership for the full quarter. For properties disposed of during the three months ended June 30, 2026, the adjustment eliminates our pro rata share of cash NOI for the period. If there is a rent abatement, we annualize the first monthly contractual base rent following the free rent period.

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W. P. Carey Inc.
Appendix – Second Quarter 2026

Adjusted EBITDA – Last Five Quarters

In thousands.

| Three Months Ended
| Jun. 30, 2026 |  | Mar. 31, 2026 |  | Dec. 31, 2025 |  | Sep. 30, 2025 |  | Jun. 30, 2025
Net income | $ | 185,659 |  |  | $ | 176,496 |  |  | $ | 154,562 |  |  | $ | 141,225 |  |  | $ | 51,312 |
Adjustments to Derive Adjusted EBITDA (a) |  |  |  |  |  |  |  |  |
Depreciation and amortization | 134,378 |  |  | 136,183 |  |  | 145,339 |  |  | 125,586 |  |  | 120,595 |
Impairment charges — real estate | 79,421 |  |  | 40,008 |  |  | 39,690 |  |  | 19,474 |  |  | 4,349 |
Interest expense | 78,979 |  |  | 78,460 |  |  | 75,431 |  |  | 75,226 |  |  | 71,795 |
Other (gains) and losses (b) | (48,558) |  |  | (6,791) |  |  | 10,131 |  |  | 31,011 |  |  | 148,768 |
Straight-line and other leasing and financing adjustments (c) | (15,459) |  |  | (24,178) |  |  | (20,758) |  |  | (20,424) |  |  | (15,374) |
Stock-based compensation expense | 13,909 |  |  | 7,441 |  |  | 8,650 |  |  | 11,153 |  |  | 10,943 |
Provision for (benefit from) income taxes | 13,091 |  |  | 14,634 |  |  | (1,310) |  |  | 8,495 |  |  | 13,091 |
Gain on sale of real estate, net | (5,819) |  |  | (54,141) |  |  | (52,791) |  |  | (44,401) |  |  | (52,824) |
Above- and below-market rent intangible lease amortization | 3,706 |  |  | 2,498 |  |  | 941 |  |  | 4,363 |  |  | 5,061 |
Merger and other expenses | 613 |  |  | 1,180 |  |  | 478 |  |  | 1,021 |  |  | 192 |
Other amortization and non-cash charges | 446 |  |  | 489 |  |  | 467 |  |  | 465 |  |  | 458 |
| 254,707 |  |  | 195,783 |  |  | 206,268 |  |  | 211,969 |  |  | 307,054 |
Adjustments for Pro Rata Ownership |  |  |  |  |  |  |  |  |
Real Estate Joint Ventures: |  |  |  |  |  |  |  |  |
Add: Pro rata share of adjustments for equity method investments (d) | (49,421) |  |  | 3,206 |  |  | 2,961 |  |  | 5,220 |  |  | 3,312 |
Less: Pro rata share of adjustments for amounts attributable to noncontrolling interests | (324) |  |  | (280) |  |  | (429) |  |  | (430) |  |  | (308) |
| (49,745) |  |  | 2,926 |  |  | 2,532 |  |  | 4,790 |  |  | 3,004 |
Adjustment to normalize for intra-period acquisitions and dispositions (e) | 6,923 |  |  | 4,363 |  |  | 3,312 |  |  | 2,545 |  |  | 3,222 |
Adjusted EBITDA (f) | $ | 397,544 |  |  | $ | 379,568 |  |  | $ | 366,674 |  |  | $ | 360,529 |  |  | $ | 364,592 |

________
(a)Comprises items that we do not consider to be part of our core operating business plan or representative of our overall long-term operating performance, based on a number of factors, including the nature of the item and/or the frequency with which it occurs. We believe that these adjustments provide a more representative view of EBITDA from our core operating business and allow for more meaningful comparisons.
(b)Primarily comprises gains and losses on the mark-to-market fair value of equity securities, foreign currency exchange rate movements, changes in the non-cash allowance for credit losses on loans receivable and finance leases, and extinguishment of debt. Amounts from period to period will not be comparable due to unpredictable fluctuations in these gains and losses.
(c)Straight-line rent adjustments relate to our net-leased properties subject to operating leases.
(d)Amount for the three months ended June 30, 2026 includes our $49.9 million proportionate share of a gain recognized on the sale of a portfolio by a jointly owned investment.
(e)Reflects pro forma adjustments for recurring revenues and expenses related to properties acquired or disposed of, and capital investments and commitments completed, during the applicable period, assuming all activity occurred at the beginning of the applicable period.
(f)Adjusted EBITDA is a non-GAAP measure. See the Disclosures Regarding Non-GAAP and Other Metrics section that follows for a description of our non-GAAP measures.

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W. P. Carey Inc.
Appendix – Second Quarter 2026

Reconciliation of Net Debt to Adjusted EBITDA

In thousands.

| Three Months Ended
| Jun. 30, 2026
Adjusted EBITDA (a) | $ | 397,544 |
Adjusted EBITDA (Annualized) | $ | 1,590,176 |
| As of
| Jun. 30, 2026
Total Pro Rata Debt Outstanding (b) | $ | 8,954,912 |
Less: Cash and cash equivalents | (163,538) |
Net Debt | $ | 8,791,374 |
Less: Expected proceeds from unsettled forward equity (c) | (690,710) |
Net Debt – Inclusive of Unsettled Forward Equity | $ | 8,100,664 |
Net Debt to Adjusted EBITDA (Annualized) | 5.5x
Net Debt to Adjusted EBITDA (Annualized) – Inclusive of Unsettled Forward Equity | 5.1x

________
(a)Adjusted EBITDA is a non-GAAP measure. See the Disclosures Regarding Non-GAAP and Other Metrics section that follows for a description of our non-GAAP measures.
(b)Excludes unamortized discount, net totaling $46.6 million and unamortized deferred financing costs totaling $35.1 million as of June 30, 2026.
(c)Reflects the impact of (i) 950,000 shares of unsettled forward equity, as if they had been settled for cash at a net offering price of $70.31 per share and (ii) 8,964,031 shares of unsettled “at-the-market” forward equity as of June 30, 2026, as if they had been settled for cash at a weighted-average net settlement price of $69.60 per share.

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W. P. Carey Inc.
Appendix – Second Quarter 2026

Disclosures Regarding Non-GAAP and Other Metrics

Non-GAAP Financial Disclosures
FFO and AFFO
Due to certain unique operating characteristics of real estate companies, as discussed below, NAREIT, an industry trade group, has promulgated a non-GAAP measure known as FFO, which we believe to be an appropriate supplemental measure, when used in addition to and in conjunction with results presented in accordance with GAAP, to reflect the operating performance of a REIT. The use of FFO is recommended by the REIT industry as a supplemental non-GAAP measure. FFO is not equivalent to, nor a substitute for, net income or loss as determined under GAAP.
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 – Second Quarter 2026
Normalized Pro Rata Cash NOI
Normalized pro rata cash NOI is pro rata cash NOI as defined above adjusted primarily to exclude our pro rata share of cash NOI from properties disposed of during the most recent quarter and to include a full quarter of pro rata cash NOI related to properties acquired or capital investments and commitments completed during the period, as applicable. If there is a rent abatement, we annualize the first monthly contractual base rent following the free rent period. We believe this measure provides a helpful representation of our net operating income from our in-place leased and operating properties.
Adjusted EBITDA
We believe that EBITDA is a useful supplemental measure to investors and analysts for assessing the performance of our business because (i) it removes the impact of our capital structure from our operating results and (ii) it is helpful when comparing our operating performance to that of companies in our industry without regard to such items, which can vary substantially from company to company. Adjusted EBITDA as disclosed represents EBITDA modified to include other adjustments to GAAP net income for certain non-cash charges, such as impairments, non-cash rent adjustments and unrealized gains and losses from our hedging activity. Additionally, we exclude gains and losses on sale of real estate, which are not considered fundamental attributes of our business plans and do not affect our overall long-term operating performance. We exclude these items from adjusted EBITDA because they are not the primary drivers in our decision-making process. Adjusted EBITDA reflects adjustments for unconsolidated partnerships and jointly owned investments. Adjusted EBITDA is also modified to reflect the pro forma impact of our investment and disposition activity, assuming all activity occurred at the beginning of the applicable period. This includes adjustments to recurring revenue and expenses related to properties acquired or disposed of, and capital investments and commitments completed, during the applicable period. Our assessment of our operations is focused on long-term sustainability and not on such non-cash and non-core items, which may cause short-term fluctuations in net income but have no impact on cash flows. We believe that adjusted EBITDA is a useful supplemental measure and representation of the performance of our business to investors and analysts, although it does not represent net income that is computed in accordance with GAAP. Accordingly, adjusted EBITDA should not be considered an alternative to net income or an indicator of our financial performance. EBITDA and adjusted EBITDA as calculated by us may not be comparable to similarly titled measures of other companies.
Other Metrics
Pro Rata Metrics
This supplemental package contains certain metrics prepared on a pro rata basis. We refer to these metrics as pro rata metrics. We have certain investments in which our economic ownership is less than 100%. On a full consolidation basis, we report 100% of the assets, liabilities, revenues and expenses of those investments that are deemed to be under our control or for which we are deemed to be the primary beneficiary, even if our ownership is less than 100%. Also, for all other jointly owned investments, which we do not control, we report our net investment and our net income or loss from that investment. On a pro rata basis, we generally present our proportionate share, based on our economic ownership of these jointly owned investments, of the assets, liabilities, revenues and expenses of those investments. Multiplying each of our jointly owned investments’ financial statement line items by our percentage ownership and adding or subtracting those amounts from our totals, as applicable, may not accurately depict the legal and economic implications of holding an ownership interest of less than 100% in our jointly owned investments.
ABR
ABR represents contractual minimum annualized base rent for our net-leased properties and reflects exchange rates as of June 30, 2026. If there is a rent abatement, we annualize the first monthly contractual base rent following the free rent period. ABR is not applicable to operating properties and is presented on a pro rata basis.

|  | Investing for the Long Run® | 37