Orion Properties Inc. · NYSE:ONL
Orion Properties — Q2 2026 Earnings Presentation
16 slides from Orion Properties's earnings presentation, Aug 7, 2026
Slide 1: Investor Presentation
Genesee Towers - Buffalo, NY Investor Presentation August 2026
Slide 2: Legal Disclaimer
Legal Disclaimer This Investor Presentation includes “forward-looking statements” which reflect Orion Properties Inc.’s (the “Company”, “Orion”, “we”, or “us”) expectations and projections regarding future events and plans, future financial condition, results of operations, liquidity and business, i
Slide 3: The Orion Properties Story
The Orion Properties Story ▪ Spun off from Realty Income in 2021 following the merger of VEREIT with Realty Income ▪ Orion portfolio comprised of substantially all the office properties of both companies ▪ High-quality core portfolio including headquarters and solid operating properties on long Hist
Slide 4: Proven Leadership
Proven Leadership Seasoned leadership team with significant net lease and public REIT experience Paul McDowell Gavin Brandon Chris Day Paul Hughes CHIEF EXECUTIVE OFFICER, DIRECTOR EVP, CHIEF FINANCIAL OFFICER EVP, CHIEF OPERATING OFFICER GENERAL COUNSEL AND SECRETARY • Executive Vice President and
Slide 5: Board of Directors
Board of Directors In addition to Paul McDowell, Orion’s Board is comprised of four independent directors, each possessing diverse backgrounds with significant experience Reginald H. Kathleen R. Allen, Richard J. Gregory J. Paul Gilyard Ph.D. Lieb Whyte McDowell CHAIRMAN OF THE BOARD INDEPENDENT DIR
Slide 6: Strong Corporate Governance
Strong Corporate Governance We are committed to strong corporate governance practices that promote accountability of our Board of Directors and management and the long-term interest of our stockholders. The list below highlights our alignment with strong corporate governance policies. Board Structur
Slide 7: Investment Highlights
1 Ample Liquidity And Fully Developed Platform To Support Business Plan 2 Experienced Team With Successful Track Record Of Acquiring, Managing And Selling Properties In Target Sectors Differentiated Opportunity To Selectively Invest In Properties Investment 3 In Target Sectors At Attractive Risk-Adj
Slide 8: Shifting Opportunity
Shifting Opportunity Orion Properties Inc. All rights reserved. Orion is shifting its focus to properties that include a substantial specialized use component where tenant operations require high workday building headcount, on-site operation is of high value to the tenant and continuing investment b
Slide 9: Accomplishments Since Our Spin
Accomplishments Since Our Spin Delivering Results as an Independent Public Company Since November 2021 Genesee Towers - Buffalo, NY ▪ Leased 4.4 million square feet through a combination of new and renewed leases ▪ Increased WALT to 6.2 years as of Q2 2026 from 4.1 years as of Q4 2021 ▪ Sold 39 prop
Slide 10: Business Plan Progress
Business Plan Progress Accelerating portfolio transformation to establish a high-quality right-sized property base ▪ We continuously evaluate portfolio assets, with particular focus on obsolete buildings and those assets requiring substantial capital investment ▪ We have sold four properties and the
Slide 11: Balance Sheet Strategy
Balance Sheet Strategy Balance sheet provides liquidity for potential growth Leverage management focused on rate stability and Debt Capital Structure (1) disciplined maturities ▪ Opportunities for growth without an overreliance on the Wtd. Avg. Wtd. Avg. Maturity Interest Balance equity markets (Yea
Slide 12: Portfolio Highlights
Portfolio Highlights Focused on building and maintaining a sustainable investment-grade tenant base 57 6,352 78.1% 6.2 years Rentable Square Feet Operating Properties Occupancy % (1) WALT (1) (2) (3) (000s) (1) $107,993 $17.00 69.1% 38.7% Orion Properties Inc. All rights reserved. ABR per Rentable S
Slide 13: Robust Industry and Tenant Diversification
Robust Industry and Tenant Diversification Portfolio well-diversified across economically resilient industries and primarily investment-grade tenants Top 10 Tenant Industries (% of ABR) Top 10 Tenants (% of ABR) Credit Rating Government & Public 20.6% # Tenant (1) % of ABR Services Health Care Equip
Slide 14: National Portfolio Well-Diversified by Geography
National Portfolio Well- Diversified by Geography National portfolio with concentrations in strong suburban office markets Top 10 States (% of ABR) Geographic Footprint (% of ABR) Texas 21.7% New Jersey 15.5% Kentucky 9.5% Colorado 6.2% New York 6.1% California 5.5% Color Orion Properties Inc. All r
Slide 15: Case Study: Leasing
Case Study: Leasing Portfolio Value Creation through Dynamic Leasing Strategy ▪ Single-tenant, 172,089 square foot office building located in Irving, Texas (Dallas-Fort Worth MSA) and constructed in 1997, which became fully vacant when the prior tenant's lease expired in 2024. ▪ Background The build
Slide 16: Key Value Creation Drivers to Spur Growth
Key Value Creation Drivers to Spur Growth Seek to generate growth via active asset management, portfolio optimization through capital recycling and pursuit of accretive acquisitions ▪ In-house asset management allows control over entire leasing process ▪ Develop favorable relationships with tenants