Exhibit 99.2

W. P. Carey Inc.

Supplemental Information

Second Quarter 2026

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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.

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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

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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

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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.

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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

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(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.

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W. P. Carey Inc.

Financial Results

Second Quarter 2026

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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

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(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.

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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.

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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.

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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.

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W. P. Carey Inc.

Balance Sheets and Capitalization

Second Quarter 2026

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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

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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

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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

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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

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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

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W. P. Carey Inc.

Real Estate

Second Quarter 2026

						Investing for the Long Run® | 15

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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

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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

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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.

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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.

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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.

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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.

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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.

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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

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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

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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.

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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

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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

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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.

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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

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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.

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