NETSTREIT (NTST) Investor presentation summary

Portfolio quality and diversification

• Portfolio consists of 859 investments across 46 states, with 100% occupancy and a 10-year weighted average lease term as of June 30, 2026.

• 56.5% of annual base rent (ABR) comes from investment grade or investment grade profile tenants, with top tenants including Ahold Delhaize, Dollar General, CVS, and Home Depot.

• Portfolio is highly diversified by industry, tenant, and geography, with no industry exceeding 16.5% of ABR and no state over 19%.

• 89.1% of ABR is derived from necessity, discount, and service-oriented tenants, emphasizing defensive retail sectors.

• Weighted average unit-level rent coverage is 3.8x, with 93% of ABR having coverage above 1.5x.

Investment strategy and performance

• Focus on acquiring granular, necessity-based, and e-commerce-resistant retail assets with long lease terms and strong tenant credit.

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

• Annualized credit loss since inception is only 3bps, significantly outperforming peers.

• Investments consistently sourced at above-market yields, with a weighted average cash yield of 7.1% since 3Q'20.

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

Financial position and liquidity

• Total pro forma liquidity of $1.1 billion as of June 30, 2026, including $719 million of unsettled forward equity.

• Low leverage with pro forma adjusted net debt/annualized adjusted EBITDAre of 3.1x.

• No term loan maturities until 2028; asset base is over 99% unencumbered.

• Debt maturity is well-staggered, with a weighted average maturity of 3.6 years.

• All key debt covenants are comfortably met, with a consolidated total leverage ratio of 33.9%.