Slide 1: Q2 2025 Quarterly Supplemental Information
Q2 2025 Quarterly Supplemental Information EX-99.2
Slide 2: Table of Contents
Table of Contents Section Page Company Overview 3 Quarterly Highlights 4 Income Statement 5 GAAP Reconciliation to FFO and AFFO 6 GAAP Reconciliation to Adjusted EBITDAre and Cash NOI 7 Balance Sheet 8 Net Debt Metrics, Fixed Charge Coverage and Covenants 9 Net Asset Value Components 10 Capital Stru
Slide 3: Company Overview
FrontView REIT, Inc. (NYSE:FVR) (the “Company”, “FrontView”, “FVR”, “us”, “our”, and “we”) is an internally-managed net-lease REIT that acquires, owns and manages primarily properties with frontage that are net leased to a diversified group of tenants. 3 Company Overview COMPANY CONTACT INFORMATION
Slide 4: Quarterly Highlights
Quarterly Highlights (unaudited, dollars in thousands, except share, per share data) Financial results June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Net income (loss) $ (4,530) $ (1,337) $ (21,488) $ (3,339) $ (3,012) Net income (loss) per common share, diluted $ (0
Slide 5: Income Statement
Income Statement (unaudited, in thousands except share and per share data) (unaudited, in thousands except share and per share data) Successor 2025 Predecessor 2024 Successor 2025 Predecessor 2024 Revenues Rental revenues(1,2) $ 17,467 $ 14,474 $ 33,612 $ 29,627 Other revenues 87 136 185 242 Total r
Slide 6: GAAP Reconciliations to FFO and AFFO
GAAP Reconciliations to FFO and AFFO (unaudited, in thousands except share and per share data) Successor 2025 Predecessor 2024 Successor 2025 Predecessor 2024 Net loss $ (4,530) $ (3,012) $ (5,867) $ (6,381) Depreciation on real property and amortization of real estate intangibles 9,466 6,971 17,271
Slide 7: GAAP Reconciliation to Adjusted EBITDAre and Cash NOI
GAAP Reconciliation to Adjusted EBITDAre and Cash NOI (1) Reflects an adjustment to give effect to all investments during the quarter as if they had been acquired as of the beginning of the quarter. (2) Reflects an adjustment to give effect to all dispositions during the quarter as if they had been
Slide 8: Balance Sheet
Balance Sheet (unaudited, in thousands) Assets June 30, 2025 December 31, 2024 Assets Real estate held for investment, at cost Land $ 330,193 $ 332,944 Buildings and improvements 401,954 386,462 Total real estate held for investment, at cost 732,147 719,406 Less accumulated depreciation (43,935) (40
Slide 9: Net Debt Metrics, Fixed Charge Coverage and Covenants
Net Debt Metrics, Fixed Charge Coverage and Covenants (unaudited, in thousands) Maturity Date Interest Rate June 30, 2025 Debt Term Loan 3-Oct-27 (1) Adjusted SOFR + 1.20% (2, 3) $ 200,000 Revolving Credit Facility 3-Oct-27 (1) Adjusted SOFR + 1.20% (2) 118,500 Gross Debt $ 318,500 Cash and Cash Equ
Slide 10: Net Asset Value Components
Net Asset Value Components June 30, 2025 Real estate portfolio Number of properties 319 Rentable square feet 2,594 Rent per square foot $ 24.01 WALT 7.3 Years Annualized base rent (ABR)(1) $ 62,293 Annualized adjusted cash NOI(1) $ 63,635 Tangible assets Cash and cash equivalents 8,363 Mortgage rece
Slide 11: Capital Structure and Liquidity
Capital Structure and Liquidity (unaudited, in thousands) June 30, 2025 Equity Shares of Common Stock 20,430 OP Units 7,405 Common Stock & OP Units 27,835 Price Per Share/Unit as of June 30, 2025 $ 12.00 Implied Equity Market Capitalization $ 334,020 % of Total Capitalization 51.2 % Debt Term Loan $
Slide 12: Capital Deployment
Capital Deployment Investment activity and dispositions since IPO
Slide 13: Capital Deployment Activity
Capital Deployment Activity Moderating capital deployment volumes to optimize deal selections and maintain conservative leverage Acquisitions ($ in thousands) December 31, 2024 March 31, 2025 June 30, 2025 Number of properties 29 17 5 Average annual escalators 1.7 % 1.6 % 2.4 % Investment grade % 27
Slide 14: Disposition Activity
Disposition Activity Non-core dispositions, improving portfolio metrics, and funding acquisitions Dispositions mix ($ 000’s) $ 2,050 $ 22,661 Dispositions ($ in thousands) December 31, 2024 March 31, 2025 June 30, 2025 Number of vacant properties — — 4 Number of leased properties — 1 5 Gross proceed
Slide 15: Portfolio Detail
Portfolio Detail Top 60 tenants, industry and geographic mix
Slide 16: Diversification: Top Tenants
Diversification: Top 60 Tenants # Tenant Brand # of Properties(1) % of ABR Investment Grade Rated Credit Rating (S&P / Moody’s / Fitch) 1 Dollar Tree 13 3.3 % ✓ BBB / Baa2 2 Fast Pace Urgent Care 8 2.7 % — N/A 3 Verizon 8.5 2.6 % ✓ BBB+ / Baa1 / A- 4 Adams Auto Group 3 2.3 % — N/A 5 Oak Street Healt
Slide 17: Diversification: Tenant Industry
Diversification: Tenant Industry (1) Includes two-tenant properties. Industry Defensive Mix # of Properties(1) ABR (000s) % of ABR Square Feet (000s) Rent / SQFT Medical and Dental Providers Necessity 43 $ 9,198 14.7 % 284 $ 32.39 Quick Service Restaurants Service 61.5 $ 8,662 13.9 % 199 $ 43.53 Cas
Slide 18: Diversification: Property Map
Diversification: Property Map 18 MA MN ID AZ CO NV UT AR KS MO OK SD LA TX CT RI AL FL GA MS SC IL IN KY NC OH TN VA WI MD NJ NY PA ME MI 319 Properties 37 States 1 1 2 6 2 1 NE 2 6 9 23 4 2 1 10 36 7 2 15 17 8 11 25 11 13 17 15 1 22 8 MI 8 8 7 10 3 1 1 3
Slide 19: Diversification: Geography
Diversification: Geography State # of Properties(1) Square Feet (000s) ABR (000s) % of ABR Rent / SQFT IL 36 376 $ 8,684 13.9 % $ 23.10 GA 25 170 $ 5,039 8.1 % $ 29.64 TX 23 133 $ 4,745 7.7 % $ 35.68 NC 17 94 $ 3,353 5.4 % $ 35.67 TN 17 113 $ 3,335 5.4 % $ 29.51 OH 22 130 $ 3,157 5.1 % $ 24.28 IN 15
Slide 20: Lease Expirations, Occupancy and Escalations
Occupancy Rates Note: Data as of June 30, 2023. 1Vacant square feet includes unoccupied square footage on multi-tenant properties. 2Based on ABR. Year Number of Properties Square Feet (000s) ABR (000s) % of ABR Remainder of 2025 2 13 $ 441 0.7 % 2026 19.5 118 $ 3,532 5.7 % 2027 31.5 385 $ 7,012 11.2
Slide 21: Non-GAAP Definitions and Explanations
Non-GAAP Definitions and Explanations EBITDA, EBITDAre, Adjusted EBITDAre, and Annualized Adjusted EBITDAre: EBITDA, EBITDAre, Adjusted EBITDAre, and Annualized Adjusted EBITDAre are non-GAAP financial measures. We compute EBITDA as earnings before interest, income taxes and depreciation and amortiz
Slide 22: Other Definitions and Explanations
Other Definitions and Explanations Cash Capitalization Rate: Cash Capitalization Rate is calculated by measuring the annualized contractual cash rent at the time of closing, divided by the purchase price of the related property. Brand: Represent the brand or trade name the tenant operates. Dispositi
Slide 23: Other Definitions and Explanations (Continued)
Other Definitions and Explanations (Continued) WALT: WALT represents the remaining average lease term of our leases, weighted by rent, and excluding lease renewal options and investments in mortgage loans. Purchase Price: Purchase Price is represented by the contractual acquisition price of the rela
Slide 24: Forward-Looking and Cautionary Statements
Forward-Looking and Cautionary Statements IP Disclaimer This data and other information described herein are as of and for the three months ended June 30, 2025, unless otherwise indicated. Future performance may not be consistent with past performance and is subject to change and inherent risks and