NETSTREIT (NTST) Investor presentation summary

Portfolio quality and diversification

• Portfolio consists of 804 investments across 46 states, with 99.9% occupancy and a weighted average lease term of 10.2 years.

• 58.3% of annual base rent (ABR) comes from investment grade or investment grade profile tenants.

• Portfolio is highly diversified, with top 10 tenants accounting for 32.7% of ABR and no industry exceeding 15.1%.

• 88.1% of ABR is from necessity, discount, and service-oriented tenants, emphasizing defensive retail sectors.

Investment strategy and performance

• Focus on acquiring granular, necessity-based, and e-commerce-resistant retail assets with long lease terms and contractual rent growth.

• Three-part underwriting process emphasizes tenant credit, real estate fundamentals, and unit-level profitability, targeting rent coverage above 2.0x.

• Maintains a disciplined approach to sourcing investments at above-market yields, with a trailing four-quarter average net investment of $150 million and a weighted average cash yield of 7.5%.

• Annualized credit loss over six years is only 3bps, significantly outperforming peers.

Financial strength and liquidity

• Low leverage with pro forma adjusted net debt to annualized adjusted EBITDAre of 2.9x and total pro forma liquidity of $1.2 billion.

• No intermediate-term debt maturities until 2028; over 99% of the asset base is unencumbered.

• Strong balance sheet supports growth, with $372 million of gross forward equity sold year-to-date and $606 million unsettled forward equity at Q1 2026 end.