FrontView REIT (FVR) Corporate presentation summary

Portfolio strategy and investment activity

• Focuses on acquiring and managing net-lease properties in high-visibility retail corridors with adaptable formats and strong real estate fundamentals.

• Year-to-date 2026 acquisitions totaled 36 properties for $119.3M at a 7.40% cash cap rate, with $34M in acquisitions under signed PSA.

• Disposed of 19 properties for $46.8M at a 6.83% cap rate, optimizing the portfolio by removing tertiary locations and weaker concepts.

• Portfolio as of Q2 2026: 316 properties, 2.9M sq ft, 99.4% occupancy, $66.9M ABR, and 33.6% investment grade tenants.

Financial performance and growth

• AFFO per share grew 20% year-over-year, outpacing peer average, driven by portfolio performance and not just acquisition volume.

• 2026 Q2 AFFO per diluted share was $0.33, up from $0.32 in 2025; six-month AFFO per diluted share was $0.67, up from $0.62.

• Net income for Q2 2026 was $891K, with FFO per diluted share at $0.26 and a payout ratio supporting retained free cash flow for reinvestment.

• Internal growth from free cash flow is driving approximately 3% per share growth, with incremental AFFO supported by disciplined capital allocation.

Capital structure and valuation

• Maintains sub-35% leverage with $208M in liquidity, net debt to annualized adjusted EBITDAre at 4.0x, and fixed charge coverage ratio of 3.6x.

• Implied cap rate as of June 30, 2026, is 7.58%, with significant upside potential to NAV and a valuation discount relative to portfolio quality and peer multiples.

• Total capitalization is $939M, with $330M in debt and $528.6M in equity as of June 30, 2026.