Global Net Lease, Inc.

Footnotes/Definitions

1. While we consider AFFO a useful indicator of our performance, we do not consider AFFO as an alternative to net income (loss) or as a measure of liquidity. Furthermore, other REITs may define AFFO differently than we do. Projected AFFO per share data included in this release is for informational purposes only and should not be relied upon as indicative of future dividends or as a measure of future liquidity.

2. Closed plus disposition pipeline totaling $391 million as of October 30, 2026. Closed plus disposition pipeline includes $167 million of closed sales, approximately $58 million under signed purchase and sale agreements (“PSA”), and approximately $166 million under letters of intent (“LOI”). There can be no assurances that the transactions under such PSA or LOI will be consummated on the above terms, if at all.

3. As used herein, “Investment-Grade Rating” includes both actual investment-grade ratings of the tenant or guarantor, if available, or implied investment-grade. Implied Investment-Grade may include actual ratings of tenant parent, guarantor parent (regardless of whether or not the parent has guaranteed the tenant’s obligation under the lease) or by using a proprietary Moody’s analytical tool, which generates an implied rating by measuring a company’s probability of default. The term “parent” for these purposes includes any entity, including any governmental entity, owning more than 50% of the voting stock in a tenant or a guarantor. Ratings information is as of September 30, 2026. Comprised of 35.8% leased to tenants with an actual investment-grade rating and 27.1% leased to tenants with an Implied Investment Grade rating based on annualized straight-line rent as of September 30, 2026.

4. We do not provide guidance on net income. We only provide guidance on AFFO per share, our Net Debt to Adjusted EBITDA ratio and expected Gross Transaction Volume and do not provide reconciliations of this forward-looking non-GAAP guidance to net income per share or our debt to net income due to the inherent difficulty in quantifying certain items necessary to provide such reconciliations as a result of their unknown effect, timing and potential significance. Examples of such items include impairment of assets, gains and losses from sales of assets, and depreciation and amortization from new acquisitions and other non-recurring expenses.

5. Weighted-average remaining lease term in years is based on square feet as of September 30, 2026.

6. During the three months ended September 30, 2026, the Company did not sell any shares of common stock through its “at-the-market” equity offering program. As of October 30, 2026, the Company had repurchased 29.7 million shares of its outstanding common stock for a total of $245.8 million under its Share Repurchase Program announced in February 2025, including 6.6 million shares repurchased for a total of $58.5 million in third quarter 2026.

7. Liquidity represents the aggregate amount of cash and cash equivalents and borrowing availability under our Revolving Credit Facility, utilizing the value of our applicable assets as of September 30, 2026 for the borrowing base calculation under such facility, and capacity represents the total undrawn commitments under our Revolving Credit Facility. Liquidity includes $712.6 million of availability under the Revolving Credit Facility and $150.7 million of cash and cash equivalents as of September 30, 2026.

8. Comprised of the principal amount of GNL's outstanding debt totaling $2.9 billion less cash and cash equivalents totaling $150.7 million, as of September 30, 2026.

9. The interest coverage ratio is calculated by dividing Adjusted EBITDA for the applicable quarter by Cash Paid for Interest (calculated as interest expense less the non-cash portion of interest expense and amortization of discounts on mortgages and senior notes). Management believes that the interest coverage ratio is a useful supplemental measure of our ability to service our debt obligations. Adjusted EBITDA and Cash Paid for Interest are non-GAAP measures and are reconciled below.

10. Assumes we exercise both 6-month extension options on our Revolving Credit Facility.