Safehold (SAFE) Corporate presentation summary

Executive summary and recent activity

• Closed 7 multifamily ground leases totaling approximately $150 million, including $81 million in forward commitments for new originations in Q2'26.

• Formed a $348 million joint venture with Brookfield, selling a 49% minority interest to repay revolver borrowings.

• Issued $225 million in 30-year privately placed structured unsecured notes, with proceeds used to repay revolver borrowings.

• Achieved A-/A3/A- ratings upgrades from S&P, Moody's, and Fitch, all with stable outlooks.

Portfolio and asset diversification

• Portfolio consists of $7.3 billion aggregate GBV across 172 ground leases, with a 92-year weighted average lease term.

• Unencumbered asset base of $4.7 billion, diversified across top U.S. markets and property types, with 144 assets and 91 unique sponsors.

• Rent coverage averages 3.6x and ground lease-to-value (GLTV) is 47%.

• Top markets include Boston, New York, Washington D.C., Los Angeles, and San Francisco.

Capital structure and credit profile

• Total debt stands at $5.0 billion with an 18-year weighted average maturity and 3.9% cash interest rate.

• 89% of permanent debt is fixed rate, locked in for decades at a 4.3% effective interest rate.

• No significant maturities until 2029; $1.4 billion in liquidity as of Q2'26.

• Credit profile transformed with 73% unsecured debt, internalized management, and single-A ratings from all major agencies.