Realty Income Provides Business Update And Announces Third Quarter 2020 Earnings Release Date

10.02.2020

	For the Quarter Ended June 30, 2020	For the Month Ended July 31, 2020	For the Month Ended August 31, 2020	For the Month Ended September 30, 2020
Through October 1, 2020:
Contractual rent collected⁽¹⁾across total portfolio	88.3%	92.5%	93.6%	93.8%
Contractual rent collected⁽¹⁾from top 20 tenants⁽²⁾	82.9%	90.9%	91.7%	91.9%
Contractual rent collected⁽¹⁾from investment grade tenants⁽³⁾	99.4%	100.0%	99.9%	100.0%


⁽¹⁾	Collection rates are calculated as the aggregate cash rent collected divided by the contractual cash rent charged for the applicable period. Cash rent collected is defined as amounts received including amounts in transit, where the tenant has confirmed payment is in process. Rent collection percentages are calculated based on a denominator that reflects pre-COVID-19 contractual base rents (excluding percentage rents and tenant reimbursements). Charged amounts have not been adjusted for any rent relief granted and include contractual base rents from any tenants in bankruptcy.

⁽²⁾	We define top 20 tenants for any period as our 20 largest tenants based on percentage of total portfolio annualized rental revenue as of the last day of such period.

⁽³⁾	We define investment grade tenants as tenants with a credit rating, and tenants that are subsidiaries or affiliates of companies with a credit rating, of Baa3/BBB- or higher from one of the three major rating agencies (Moody's/S&P/Fitch).