Net Lease Office Properties · NYSE:NLOP
Net Lease Office Properties — Investor Presentation (November 2025)
8 slides from Net Lease Office Properties's investor presentation, November 2025
Slide 1: NLOP Investor Presentation
NLOP Investor Presentation November 2025
Slide 2: NLOP Overview
NLOP Overview • Net Lease Office Properties (NYSE: NLOP) is a publicly-traded real estate investment trust (REIT) focused on realizing value through the strategic asset management and disposition of its portfolio over time • NLOP is externally managed by W. P. Carey, an advisor with significant expe
Slide 3: Continued Execution of Stated Plan
Continued Execution of Stated Plan Aug. 2025 Special cash distribution totaling $3.10 per share ($46 million) announced. Apr. 2025 176.1% Aug. 2024 Jan. 2025 Repayment in full Sale of one Repayment in full of J.P. Morgan property for of J.P. Morgan mezzanine loan $72 million senior secured and sales
Slide 4: Business Plan Progression
NLOP Business Plan Progression At Spin Today (1) # of Properties 59 31 Total Square Footage 9 MM 5 MM Number of Tenants 62 35 Portfolio ABR ($MM) $145 $69 CORALVILLE, IA WALT (2) 5.7 years 4.0 years Geography (US / Europe) (2) 89% / 11% 100% / -- % JPM Senior Loan $335 MM $ -- Balance Sheet JPM Mezz
Slide 5: Leasing Activity
Leasing Activity Lease Renewals and Extensions Dollars in thousands. Pro rata. As of September 30, 2025. Tenant / Lease Guarantor Property Location Square Footage Prior ABR New ABR (1) Rent Recapture Expected TIs LCs Incremental Term BCBSM (2 properties) Eagan, MN 347,472 $5,041 $4,663 92.5% $1,624
Slide 6: Asset Sale Summary
Asset Sale Summary Dollars in thousands. Pro rata. As of November 20, 2025. Gross Sales Square Tenant / Lease Guarantor Primary Tenant Industry Property Location ABR (1) Closing Date Proceeds Footage 1 Raytheon Aerospace & Defense Tucson, AZ $1,978 $24,575 143,650 Dec-23 23 2 Carhartt Apparel, Acces
Slide 7: Remaining Portfolio
Remaining Portfolio Dollars in thousands. Pro rata. As of September 30, 2025. Houston, TX Office Property Square Tenant / Lease Guarantor Primary Tenant Industry ABR Location Footage (1) 1 KBR (2)(3) Construction & Engineering Houston, TX $21,288 1,064,788 2 JPMorgan Diversified Banks Fort Worth, TX
Slide 8: Remaining Portfolio (continued)
Remaining Portfolio (continued) Dollars in thousands. Pro rata. As of September 30, 2025. Property Square Tenant / Lease Guarantor Primary Tenant Industry ABR Location Footage 17 Securitas Electronic (1)(2) Electronic Equipment & Instruments Plymouth, MN 1,218 182,250 18 Radiate Cable & Satellite Sa
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