Four Corners Property Trust, Inc. · NYSE:FCPT
Four Corners Property Trust — Q3 2026 Earnings Presentation
21 slides from Four Corners Property Trust's earnings presentation, Oct 28, 2026
Slide 1: Q3 2026 Supplemental Financial & Operating Information
Q3 2026 SUPPLEMENTAL FINANCIAL & OPERATING INFORMATION Four Corners Property Trust NYSE: FCPT
Slide 2: Cautionary note regarding forward-looking statements
Cautionary note regarding forward-looking statements: This presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding FCPT’s intent, belief or exp
Slide 3: Contents
Q3 2026 CONTENTS 1 FINANCIAL SUMMARY PG 3 2 REAL ESTATE PORTFOLIO SUMMARY PG 13 3 EXHIBITS PG 17
Slide 4: Consolidating Balance Sheet
Q3 2026 CONSOLIDATING BALANCE SHEET
Slide 5: Consolidated Income Statement
Q3 2026 CONSOLIDATED INCOME STATEMENT
Slide 6: FFO & AFFO Reconciliation
Q3 2026 FFO & AFFO RECONCILIATION
Slide 7: Net Asset Value Components
Q3 2026 NET ASSET VALUE COMPONENTS
Slide 8: Capitalization & Key Credit Metrics
Q3 2026 CAPITALIZATION & KEY CREDIT METRICS
Slide 9: Debt Summary
Q3 2026 DEBT SUMMARY Fully drawn Term Loan is $400 million. $40 million is undrawn as of September 30, 2026
Slide 10: Credit Facility and Hedging Summary
Q3 2026 CREDIT FACILITY AND HEDGING SUMMARY Fully drawn Term Loan is $400 million. $40 million is undrawn as of September 30, 2026
Slide 11: Fully Extended Debt Maturity Schedule
Q3 2026 3.8-year W.A. term for notes/term loans 85% Fixed rate debt 4.21% W.A. hedged cash interest rate $350 million Available on revolver 1 FULLY EXTENDED DEBT MATURITY SCHEDULE As of 9/30/2026 2
Slide 12: Debt Covenants
DEBT COVENANTS As of September 30, 2026 The following is a summary of the key financial covenants for our unsecured credit facility. These calculations are not based on U.S. GAAP measurements and are presented to demonstrate compliance with current credit covenants Covenants Requirement Q3 2026 Limi
Slide 13: Contents: Real Estate Portfolio Summary
Q3 2026 1 FINANCIAL SUMMARY PG 3 3 EXHIBITS PG 17 CONTENTS 3 EXHIBITS PG 1 2 REAL ESTATE PORTFOLIO SUMMARY PG 13
Slide 14: Portfolio Overview and Brand Diversification
Q3 2026 1,476 Leases / 185 Brands Annual Base Rent of $292.8 million1 100% retail 48% Investment Grade2 1.6% Average Annual Rent Escalator3 BRAND DIVERSIFICATION Other casual dining restaurants Auto service Other medical retail Other retail 4 Quick service restaurants Medical Retail 16%
Slide 15: Geographic Diversification
Q3 2026 WA OR CA MT ID NV AZ UT WY CO NM TX OK KS NE SD ND MN IA MO AR LA MS AL GA FL SC TN NC IL WI MI OH IN KY WV VA PA NY ME VT NH NJ DE MD MA CT RI GEOGRAPHIC DIVERSIFICATION 15 5.0%–10.0% 3.0%–5.0% 2.0%–3.0% Annualized Base Rent1 (%) 1.0 %–2.0% <1.0% No Properties (WY/ HI) Note: Portfolio inclu
Slide 16: Lease Maturity Schedule
Q3 2026 %ANNUALIZED BASE RENT1 99.5% occupied2 as of 9/30/2026 6.7 years weighted average lease term FCPT’s Darden leases average 6.0x rent coverage3 100% renewal for 2027 Olive Garden and LongHorn tranche LEASE MATURITY SCHEDULE AS OF 9/30/2026
Slide 17: Contents: Exhibits
Q3 2026 2 REAL ESTATE PORTFOLIO SUMMARY PG 13 3 EXHIBITS PG 17 1 FINANCIAL SUMMARY PG 3 CONTENTS
Slide 18: Non-GAAP Financial Measures Definitions
This document includes certain non-GAAP financial measures that management believes are helpful in understanding our business, as further described below. Our definition and calculation of non-GAAP financial measures may differ from those of other REITs and therefore may not be comparable. The non-G
Slide 19: Reconciliation Schedules
Q3 2026 RECONCILIATION SCHEDULES RECONCILIATION OF NET INCOME TO ADJUSTED EBITDARE RENTAL REVENUE AND PROPERTY EXPENSE DETAIL
Slide 20: FFO & AFFO Reconciliation and Debt Summary Notes
Q3 2026 PAGE 6 FFO & AFFO RECONCILIATION Non-cash gain recognized for GAAP purposes on the exchange of nonfinancial assets related to real estate property Amount represents non-cash deferred income tax (benefit) expense recognized at the Kerrow Restaurant Business Assumes the issuance of common shar
Slide 21: Supplemental Financial & Operating Information
Q3 2026 SUPPLEMENTAL FINANCIAL & OPERATING INFORMATION
Four Corners Property Trust — Q3 2026 Earnings Presentation on 6ix