Material Event (Form 8-K)

Item 8.01 Other Events

On June 11, 2025, Realty Income Corporation (the "Company," "Realty Income," "our," "us" or "we," which terms include, unless otherwise expressly stated or the context otherwise requires, its consolidated subsidiaries) provided certain updates with respect to its capital raising, liquidity matters and certain revolving credit facility recast matters, as set forth below.

Unless as otherwise indicated or the context otherwise requires, for purposes of the following disclosures, (a) references to our "$4.0 billion revolving credit facility," our "revolving credit facilities," and similar references mean our $4.0 billion unsecured revolving credit facility (excluding an additional $1.0 billion expansion option, which is subject to obtaining lender commitments and other customary conditions), (b) references to our "$5.38 billion credit facilities" and similar references mean, collectively, our revolving credit facilities and our $1.38 billion fund credit facility, (c) references to our "$3.0 billion commercial paper programs," our "commercial paper programs" and similar references mean, collectively, our U.S. Dollar-denominated and Euro-denominated unsecured commercial paper programs; (d) references to our "clients" mean our tenants, (e) references to "GBP," "Sterling" and "£" are to the lawful currency of the United Kingdom; and (f) references to "Euro" and "€" are to the lawful currency of the European Union. For purposes of determining the U.S. dollar equivalent of our borrowings or other indebtedness denominated in pounds Sterling, Euro or other non U.S. currencies, the amount of such borrowings and other indebtedness is translated into U.S. dollars using, unless otherwise indicated or the context otherwise requires, applicable currency exchange rates as in effect from time to time.

Liquidity and Capital Markets

Liquidity

As of June 6, 2025, we had $4.6 billion of liquidity, which consists of cash and cash equivalents of approximately $687.4 million, unsettled ATM forward equity of $748.1 million, and $3.2 billion of availability under our $5.38 billion credit facilities, net of $1.9 billion of borrowings on our revolving credit facilities, including £647.0 million denominated in Sterling and €936.0 million in Euro, and after deducting $268.9 million in borrowings under our commercial paper programs, including €235.0 million denominated in Euro.