Global Net Lease GNL-PD

Global Net Lease, Inc. is an internally managed real estate investment trust focused on acquiring and managing a global portfolio of income-producing net lease assets across the United States, Canada, and Western and Northern Europe. As of December 31, 2025, the company owned 820 properties totaling 40.7 million rentable square feet, with a portfolio occupancy rate of 97% and a weighted-average remaining lease term of 6.1 years. The company’s operations are structured around long-term net lease agreements designed to generate stable and consistent cash flows.

Global Net Lease, Inc. generates revenue primarily through rental income derived from its portfolio of net leased properties. The company leases industrial, retail, and office properties to tenants under long-term agreements that often include contractual rent escalations or inflation adjustments. Revenue is derived from straight-line rent calculations, which include amounts for tenant concessions, and is reported in U. S. dollars after conversion from local currencies. The company’s revenue model emphasizes creditworthy tenants with strong financial visibility and corporate-level profitability to ensure reliable income streams.

The company operates through the following segments: Industrial & Distribution, Retail, and Office.

• The Industrial & Distribution segment comprises properties used for logistics, warehousing, and distribution activities, representing 46% of the portfolio’s annualized straight-line rental income as of December 31, 2025. These assets are strategically located to support supply chain operations and are leased to tenants with operational needs in transportation and inventory management.

• The Retail segment includes single-tenant and multi-tenant retail properties, accounting for 27% of annualized straight-line rental income as of December 31, 2025. This segment encompasses properties leased to businesses providing goods and services to consumers, with a focus on necessity-based retail in well-established markets.

• The Office segment consists of properties designed for professional and administrative use, also representing 27% of annualized straight-line rental income as of December 31, 2025. These assets are leased to tenants across various industries seeking functional office spaces in accessible locations with supportive infrastructure.

Global Net Lease, Inc. operates in a highly competitive commercial real estate market, competing with other REITs, specialty finance companies, banks, insurance companies, and sovereign wealth funds for both tenants and acquisitions. The company differentiates itself through its focus on investment-grade tenants, long lease terms with rent escalations, and a disciplined underwriting process that prioritizes credit quality and income-producing capacity. Its internal management structure and global net lease expertise support its ability to identify and integrate high-quality assets across diverse geographic regions.

Global Net Lease, Inc. leases space to 231 different tenants operating across 71 distinct industries as of December 31, 2025. No single industry accounted for more than 10% of the portfolio’s rental income on a straight-line basis, reflecting a well-diversified tenant base. The company’s tenants include investment-grade rated entities, with 66% of rental income derived from such tenants—comprising 34% with actual investment-grade ratings and 32% with implied investment-grade ratings as determined by internal analytics.