NETSTREIT (NTST) investor relations material

Executive summary

• Portfolio expanded to 864 properties across 46 states, 100% occupied (excluding developments), with a 10-year weighted average lease term and a focus on necessity-based retail tenants.

• Annualized base rent reached $231.4 million, with 41% from investment grade tenants and 16% from investment grade profile tenants; 56.5% of ABR from investment grade or investment grade profile tenants.

• Significant acquisition activity: 135 properties acquired for $486.7 million in H1 2026, with $298.9 million in gross investments closed in Q2 at a 7.4% blended cash yield.

• Four consecutive quarters of $200M+ in gross investments, with a trailing four-quarter average net investment of $195.8M.

• Five property developments under construction, with one completed and rent commenced in Q2 2026.

Financial highlights

• Total revenues for Q2 2026 were $61.3 million, up from $48.3 million in Q2 2025; six-month revenues reached $118.3 million, up from $94.2 million year-over-year.

• Net income for Q2 2026 was $6.3 million, or $0.06 per diluted share, up from $3.3 million in Q2 2025.

• AFFO for Q2 2026 was $35.5 million ($0.35/share), up from $27.5 million in Q2 2025, a 6.1% year-over-year increase.

• Adjusted EBITDAre for Q2 2026 was $53.0 million, annualized to $212.0 million.

• Declared a quarterly dividend of $0.225 per share, payable September 15, 2026.

Outlook and guidance

• Raised 2026 AFFO per share guidance to $1.37–$1.39, including $0.05–$0.08 per share of estimated dilution from forward equity.

• Increased full-year 2026 net investment activity guidance to $700–$800 million.

• AFFO per share growth CAGR (2021–2025) is 8.7%, with 2026E and 2027E AFFO per share growth projected at 6.1% and 5.3%, respectively.

• Cash G&A expected between $16.5 million and $17 million for 2026.

• Sufficient liquidity anticipated from cash flows, unsettled forward equity, and available credit to fund operations and capital needs for at least the next 12 months.