Net Lease Office Properties Common Shares of Beneficial Interest

Net Lease Office Properties (NYSE: NLOP) is a publicly traded real estate investment trust with a portfolio of high-quality office properties located in the United States, totaling approximately 1.9 million leasable square feet leased to corporate tenants on a single-tenant net lease basis. The company was formed in October 2022 as a spin-off from W. P. Carey Inc. (WPC), which contributed 59 office properties previously owned by WPC to the new entity. NLOP is externally managed and advised by wholly owned affiliates of W. P. Carey, leveraging WPC's more than 50-year history of expertise in single-tenant office real estate. The portfolio serves 11 corporate tenants operating across a variety of industries, generating approximately $26 million in annualized base rent. NLOP's business plan is to realize value for shareholders primarily through strategic asset management and disposition of its property portfolio over time.