GETTY REALTY CORP MD

Certain statements in this Annual Report on Form 10-K may constitute “forward-looking statements” within the meaning of the federal securities laws that are subject to the safe harbor created under the Private Securities Litigation Reform Act of 1995 and other safe harbors under the Securities Act of 1933, as amended (the “Securities Act”) and the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Statements preceded by, followed by, or that otherwise include the words “believes,” “expects,” “seeks,” “plans,” “projects,” “estimates,” “anticipates,” “predicts” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and are not historical facts. All capitalized and undefined terms used in this section shall have the same meanings hereafter defined in this Annual Report on Form 10-K.

Examples of forward-looking statements included in this Annual Report on Form 10-K include, but are not limited to, our statements regarding:

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our network of convenience stores, express tunnel car washes, automotive service centers, and certain other freestanding retail properties, including drive-thru quick service restaurants and automotive parts retailers;

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our investment strategy and its impact on our financial performance;

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changes in market conditions affecting our tenants and their financial stability and creditworthiness, which would impact their compliance with lease obligations;

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concentration of certain tenants in similar industries or concentration of our owned and leased properties in certain geographic locations;

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the amount of revenue we expect to realize from our properties, including renewal of existing leases, sale, acquisition or redevelopment opportunities;

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our belief that our real estate assets are not carried at amounts in excess of their estimated net realizable fair value amounts;

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compliance of our properties with federal, state, and local provisions enacted or adopted pertaining to environmental matters;

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our ability to maintain our federal tax status as a REIT, effects of U.S. federal tax reform and other legislative, regulatory, and administrative developments;

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our competitive position in our industry, including the impact of existing legislation and regulations;

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the cost and potential outcomes of current and future environmental and litigation matters, including those resulting from preexisting unknown environmental contamination and matters related to our former Newark, New Jersey Terminal and the Lower Passaic River, our MTBE multi-district litigation cases in the states of Pennsylvania and Maryland, and related accruals, estimates, and assumptions regarding our liabilities, remediation costs and expected recoveries;

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impact of global political and economic uncertainties, including public health crises, geopolitical conflicts and inflation;

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our ability to adequately secure our information technology systems and the regulated data stored therein, as required by law;

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the adequacy of our insurance coverage and that of our tenants on our owned and leased properties;

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our ability to attract and retain key management personnel;

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our workplace demographics, recruiting efforts, and employee compensation program;

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our use of FFO and AFFO as measures that represent our core operating performance and its utility in comparing our core operating performance between periods;

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the reasonableness of our estimates, judgments, projections, and assumptions used regarding our accounting policies and methods;

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our ability to maintain an effective system of internal control over financial reporting;

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our indemnification obligations and the indemnification obligations of others;

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the adequacy of our current and anticipated cash flows from operations, borrowings under our Credit Facility, and available cash and cash equivalents to fund our future operating expenses and capital expenditure requirements;

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our continued compliance with the covenants in our credit and notes agreements;

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our ability to pay dividends and changes to our dividend policy; and

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our dependence on external sources of capital, timing of and need for additional financing and dilution as a result of future issuances of equity securities.

These forward-looking statements are based on our current beliefs and assumptions and information currently available to us, and are subject to known and unknown risks, uncertainties and other factors including, but not limited to, the risks described in “Item 1A. Risk Factors” and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Annual Report on Form 10-K, as such risk factors may be updated from time to time in our public filings. Such risks and uncertainties were derived based on numerous important assumptions, which may not be realized, and may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Most of these factors are difficult to predict accurately and are generally beyond our control. New risk factors and uncertainties may also emerge from time to time, and there can be no assurance that we have identified all risks and uncertainties that may affect it.

As a result of these and other factors, we may experience material fluctuations in future operating results on a quarterly or annual basis, which could materially and adversely affect our business, financial condition, operating results, our growth or reinvestment strategies, our ability to pay dividends or stock price. An investment in our stock involves various risks, including those mentioned above and elsewhere in this Annual Report on Form 10-K and those that are described from time to time in our other filings with the SEC.

You should not place undue reliance on forward-looking statements, which reflect our view only as of the date hereof. Except for our ongoing obligations to disclose material information under the federal securities laws, we undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events, unless required by law.