Apollo-Managed Funds And Affiliates Intend To Provide $1B Investment To Realty Income To Acquire 49% Interest In New JV Entity That Is Expected To Own Diversified Portfolio Of Single-Tenant Retail Properties Subject To Long-Term Net Leases

- Funding Arrangement Will Advance Realty Income's Private Capital Initiative with Leading Asset Manager

- Initial Apollo Investment of $1.0 Billion for 49% Equity Interest in Portfolio of Existing U.S. Realty Income Retail Assets

- Cost-Efficient Long-Term Equity with 100% Permanent Equity Treatment by Rating Agencies

SAN DIEGO and NEW YORK, March 19, 2026 /PRNewswire/ -- Realty Income Corporation ((Realty Income, NYSE:O), The Monthly Dividend Company®, and Apollo (NYSE:APO) today announced that Apollo-managed funds and affiliates intend to provide a $1.0 billion investment to Realty Income to acquire a 49% interest in a new joint venture entity that is expected to own a diversified portfolio of single-tenant retail properties subject to long-term net leases. Realty Income will continue to manage the portfolio, which includes approximately 500 retail assets that benefit from stable, contractual cash flows and are supported by Realty Income's operating platform and long-standing asset management expertise.