NETSTREIT (NTST) Investor presentation summary

Portfolio highlights and strategy

• Maintains a 100% occupied, geographically diverse net lease portfolio with 56.5% investment grade or investment grade profile tenants across 46 states.

• Weighted average lease term is 10 years, with a focus on necessity, discount, and service-oriented tenants making up 89.1% of ABR.

• Portfolio construction emphasizes defensive, e-commerce-resistant retail industries and granular assets with an average asset size of $3.8 million.

• Diversification limits: <15% industry, <35% top 10 tenants, <20% state exposure.

• Four consecutive quarters of $200M+ in gross investments, with a trailing four-quarter average net investment of ~$195M.

Credit quality and risk management

• Historical annualized credit loss is only 3bps since inception, outperforming peers with higher loss rates.

• 93% of ABR has unit-level rent coverage above 1.5x, with a portfolio average of 3.8x.

• Stringent three-part underwriting process: tenant credit, real estate valuation, and unit-level profitability.

• Focus on tenants with >$1B in annual revenue; over 78% of tenants meet this threshold.

• Active asset management and strategic recycling have led to the disposition of 239 properties totaling $600M, improving portfolio metrics.

Financial performance and capital structure

• Reported Q2 2026 revenues of $61.3M and net income attributable to common stockholders of $6.3M.

• Q2 2026 AFFO per diluted share was $0.35, with a dividend payout ratio of 63%.

• Maintains low leverage: pro forma adjusted net debt/annualized adjusted EBITDAre of 3.1x.

• $1.1B in total pro forma liquidity, with no term loan maturities until 2028 and over 99% of assets unencumbered.

• Weighted average debt maturity is 3.6 years, with 86% of debt fixed rate.