# EDGAR Filing Document

**Accession Number:** 0001988494
**File Stem:** 0001193125-26-208927
**Filing Date:** 2026-5
**Character Count:** 79683
**Document Hash:** 23fa4ddbcec4e6b7ebe834612f073b2b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-208927.hdr.sgml**: 20260506

**ACCESSION NUMBER**: 0001193125-26-208927

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 37

**CONFORMED PERIOD OF REPORT**: 20260506

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260506

**DATE AS OF CHANGE**: 20260506

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FrontView REIT, Inc.
- **CENTRAL INDEX KEY:** 0001988494
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 932133671
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42301
- **FILM NUMBER:** 26948266

**BUSINESS ADDRESS:**
- **STREET 1:** 3131 MCKINNEY AVENUE
- **STREET 2:** SUITE L10
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75204
- **BUSINESS PHONE:** (469) 906-7300

**MAIL ADDRESS:**
- **STREET 1:** 3131 MCKINNEY AVENUE
- **STREET 2:** SUITE L10
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75204

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

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## FORM 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** May 06, 2026<br>

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FrontView REIT, Inc.

**(Exact name of Registrant as Specified in Its Charter)**

------

---

| | | |
|:---|:---|:---|
| Maryland | 001-42301 | 93-2133671 |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 3131 McKinney Avenue<br>Suite L10 |  |  |
| Dallas**,** Texas |  | 75204 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code:** 214 796-2445<br>

**(Former Name or Former Address, if Changed Since Last Report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

---

| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| Common stock $0.01 par value per share | FVR | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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## Item 2.02 Results of Operations and Financial Condition.
On May 6, 2026, FrontView REIT, Inc. (the "Company") issued a press release announcing its financial results for the quarter ended March 31, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The press release is also available on the Company's website.

## Item 7.01 Regulation FD Disclosure.
On May 6, 2026, the Company made available on its website an updated presentation containing quarterly supplemental information pertaining to its operations and financial results for the quarter ended March 31, 2026. A copy of the quarterly supplemental information is attached hereto as Exhibit 99.2 and is incorporated herein by reference.

The information contained in Item 2.02 and 7.01 hereof, including the information contained in the press release attached as Exhibit 99.1 and the quarterly supplemental information attached as Exhibit 99.2, are being "furnished" and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. References to the Company's website in this Current Report on Form 8-K and in the attached Exhibit 99.1 and Exhibit 99.2 do not incorporate by reference the information on such website into this Current Report on Form 8-K and the Company disclaims any such incorporation by reference.

## Item 9.01 Financial Statements and Exhibits.
(d) Exhibits

**INDEX TO EXHIBITS**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [<u>Press Release Dated May 6, 2026</u>](fvr-ex99_1.htm) |
| 99.2 | [<u>Quarterly Supplemental Information for the Quarter Ended March 31, 2026</u>](fvr-ex99_2.htm) |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  |  |  | FrontView REIT, Inc. |
| Date: | May 6, 2026 | By:  | /s/ Pierre Revol |
|  |  |  | Pierre Revol<br>Chief Financial Officer, Treasurer, and Secretary |

---

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## Exhibit 99.1

**EXHIBIT 99.1**

**For Immediate Release**

**May 6, 2026**

![img107716227_0.jpg](img107716227_0.jpg)<br>

**FrontView REIT Announces First Quarter 2026 Results and Updated Full Year 2026 Guidance**

**Dallas, TX** – FrontView REIT, Inc. (NYSE: FVR) (the "Company", "FrontView", "we", "our", or "us"), today announced its operating results for the quarter ended March 31, 2026.

# MANAGEMENT COMMENTARY
"The strength of our results was driven by solid property-level performance, continued benefits from active portfolio management and enhanced operating efficiencies across the platform. We are raising our AFFO per share guidance and believe FrontView is well-positioned to capitalize on a compelling pipeline of attractive frontage-based opportunities that can further accelerate growth and create long-term shareholder value," said Stephen Preston, Chief Executive Officer of FrontView REIT.

# FIRST QUARTER 2026 HIGHLIGHTS
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Generated net income of $0.4 million, or $0.00 per share with funds from operations ("FFO") of $7.7 million, or $0.27 per share and adjusted funds from operations ("AFFO") of $9.5 million, or $0.34 per share

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Acquired 10 properties for $33.9 million at an average capitalization of 7.49% and a weighted average lease term of 9.4 years

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Sold 5 properties, including 2 occupied properties, for $9.7 million in gross proceeds with an average capitalization rate of 6.89% on the occupied properties and a weighted average lease term of 8.0 years

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Lowered leverage with Net Debt to Annualized Adjusted EBITDAre falling to 5.3x, Adjusted Net Debt to Annualized Adjusted EBITDAre of 4.4x, and LTV of 32.6%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Increased AFFO per share guidance from $1.27 to $1.32 to $1.29 to $1.33, implying 5% growth at the midpoint and 7% at high-end

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Paid a quarterly dividend per common share of $0.215 representing a AFFO per share payout ratio of 63.2%

# SUMMARIZED FINANCIAL RESULTS

# The following table summarizes the Company's select financial results for the three months ended March 31, 2026, and 2025:

---

| | | |
|:---|:---|:---|
|  | **For the three months ended March 31,** | **For the three months ended March 31,** |
| *(unaudited, in thousands, except per share amounts)* | **2026** | **2025** |
| Revenues | $18185 | $16243 |
| Net income (loss), including non-controlling interest | $400 | $(1337) |
| Earnings per share | $0.00 | $(0.06) |
| FFO | $7682 | $6438 |
| FFO per share | $0.27 | $0.23 |
| AFFO | $9490 | $8238 |
| AFFO per share | $0.34 | $0.30 |
| Common Stock dividend | $0.215 | $0.215 |
| AFFO payout ratio | 63.2% | 71.7% |
| Weighted average common shares outstanding, diluted | 28064086 | 27822826 |

---

------

# NET INVESTMENT ACTIVITY
The following table summarizes the Company's investments and dispositions for the three months ended March 31, 2026:

---

| | | | |
|:---|:---|:---|:---|
|  | **For the three months ended<br>March 31, 2026** | **For the three months ended<br>March 31, 2026** | **For the three months ended<br>March 31, 2026** |
| *(unaudited, in thousands, except # of properties and percentages)* | **# of Properties** | **Amount** | **Amount** |
| Investments | 10 | $| 33857 |
| Less: dispositions | 5 |  | 9660 |
| Investment activity | 5 | $| 24197 |
| **Investment activity** |  |  |  |
| Cash yield <sup>(1)</sup> |  | 7.49% | 7.49% |
| Economic yield |  | 7.80% | 7.80% |
| Investment grade |  | 17.2% | 17.2% |
| Average annual escalators |  | 1.5% | 1.5% |
| Weighted average lease term (years) |  |  | 9.4 |
| **Disposition activity** |  |  |  |
| Cash yield <sup>(1)</sup> |  | 6.89% | 6.89% |
| Weighted average lease term (years) |  |  | 8.0 |

---

*(1) Includes near-term lease extensions as the underwritten capitalization rate.*

# PORTFOLIO UPDATE
The following table summarizes the Company's real estate portfolio as of March 31, 2026:

---

| | |
|:---|:---|
|  | **March 31, 2026** |
| Number of properties | 309 |
| Annualized base rent (000s) | $64218 |
| Gross real estate investment (000s) | $935036 |
| Average rent per square foot | $23.39 |
| Rentable square feet (000s) | 2770 |
| Number of concepts | 156 |
| Number of industries | 16 |
| Occupancy | 98.7% |
| Weighted average lease term (years) | 7.3 |
| Investment grade % | 33.8% |

---

# BALANCE SHEET AND LIQUIDITY
The following tables summarize the Company's leverage, fixed charge coverage and liquidity as of March 31, 2026:

---

| | |
|:---|:---|
| **Leverage and Fixed Charge** | **March 31, 2026** |
| Net Debt to Annualized Adjusted EBITDAre | 5.3x |
| Adjusted Net Debt to Annualized Adjusted EBITDAre | 4.4x |
| Fixed Charge Coverage Ratio | 3.5x |

---

---

| | |
|:---|:---|
| **Liquidity** | **March 31, 2026** |
| Undrawn Series A Convertible Preferred Stock | $50000 |
| Undrawn revolver capacity | 136000 |
| Cash and cash equivalents | 9294 |
| Total liquidity | $195294 |

---

------

# DISTRIBUTIONS
On May 5, 2026, our board of directors authorized a quarterly dividend of $0.215 per common share and a quarterly distribution of $0.215 per OP unit, each payable in cash on July 15, 2026, to holders of record as of June 30, 2026.

# 2026 UPDATED GUIDANCE
The Company is revising full year 2026 AFFO per share guidance and maintaining net investment guidance.

---

| | | |
|:---|:---|:---|
|  | **Prior Guidance** | **Current Guidance** |
| AFFO per share | $1.27 to $1.32 | $1.29 to $1.33 |
| Net investment activity | Approximately $100.0 million | Approximately $100.0 million |

---

The Company's 2026 guidance is based on a number of assumptions that are subject to change and many of which are outside the Company's control. If actual results vary from these assumptions, the Company's expectations may change. There can be no assurance that the Company will achieve these results.

We do not provide guidance for the most comparable GAAP financial measure, net income, or a reconciliation of the forward-looking non-GAAP financial measure of AFFO per share to earnings per share attributable to common stockholders computed in accordance with GAAP, because we are unable to reasonably predict, without unreasonable efforts, certain items that would be contained in the GAAP measure, including items that are not indicative of our ongoing operations, including, without limitation, potential impairments of real estate assets, net gain/loss on dispositions of real estate assets, changes in allowance for credit losses, and stock-based compensation expense. These items are uncertain, depend on various factors, and could have a material impact on our GAAP results for the guidance periods.

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**CONFERENCE CALL AND WEBCAST**

# The Company will host its first quarter earnings conference call and audio webcast on Thursday, May 7, 2026, at 10:00 a.m. Central Time.
To access the live webcast, which will be available in listen-only mode, please visit: https://events.q4inc.com/attendee/496091096. If you prefer to listen via phone, U.S. participants may dial: 1-833-461-5787 (toll free) or 1-585-542-9983 (local), conference ID 496091096.

A replay of the conference call webcast will be available approximately one hour after the conclusion of the live broadcast. To listen to a replay of the call via the web, which will be available for one year, please visit: investor.frontviewreit.com.

# About FrontView REIT, Inc.

# FrontView is an internally managed net-lease real estate investment trust ("REIT") focused on acquiring, owning, and managing properties with frontage that are leased to a diversified tenant base. Our real estate-first investment strategy is centered around highly visible properties in prominent retail corridors with strong underlying real estate fundamentals. We target properties along high-traffic roads that offer strong consumer visibility and adaptable building formats capable of supporting various businesses over time.

# As of March 31, 2026, FrontView owned a diversified portfolio of 309 direct frontage properties across 36 U.S. states, leased primarily to service and necessity based tenants across 16 industries, including medical and dental providers, quick-service and casual dining restaurants, financial institutions, cellular retailers, automotive related, fitness, and general retail along with several other diversified industries.

## Forward-Looking Statements
This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies, and prospects, both business and financial. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "outlook," "potential," "may," "will," "should," "could," "seeks," "approximately," "projects," "predicts," "expect," "intends," "anticipates," "estimates," "plans," "would be," "believes," "continues," or the negative version of these words or other comparable words. Forward-looking statements, including 2026 guidance, our ability to issue additional shares of Series A Convertible Preferred Stock pursuant to the investment agreement, to execute our business and acquisition strategies, or to realize accretion to AFFO, involve known and unknown risks and uncertainties, which may cause FVR's actual future results to differ materially from expected results, including, without limitation, risks and uncertainties related to general economic conditions, including but not limited to fluctuations in the rate of inflation and/or interest rates, local real estate conditions, tenant financial health, property investments and acquisitions, and the timing and uncertainty of completing these property investments and acquisitions, and uncertainties regarding future distributions to our stockholders. These and other risks, assumptions, and uncertainties are described in Item 1A. "Risk Factors" of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, which the Company filed with the SEC on February 25, 2026, which you are encouraged to read, and is available on the SEC's website at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The Company assumes no obligation to, and does not currently intend to, update any forward-looking statements after the date of this press release, whether as a result of new information, future events, changes in assumptions, or otherwise.

## Notice Regarding Non-GAAP Financial Measures
In addition to our reported results and net earnings per diluted share, which are financial measures presented in accordance with GAAP, this press release contains and may refer to certain non-GAAP financial measures, including Funds from Operations ("FFO"), Adjusted Funds from Operations ("AFFO"), EBITDA, EBITDAre, Adjusted EBITDAre, Annualized Adjusted EBITDAre, Adjusted Net Operating Income ("NOI"), Annualized Adjusted NOI, Adjusted Cash NOI, Annualized Adjusted Cash NOI, Net Debt, Adjusted Net Debt and Fixed Charge Coverage Ratio.

These non-GAAP financial measures should not be considered alternatives to net income as a performance measure or to cash flows from operations as a liquidity measure, and should be considered in addition to, and not in lieu of, GAAP financial measures. Reconciliations of our non-GAAP measures to the most directly comparable GAAP financial measure and statements of why management believes these measures are useful to investors are included below.

**Company Contact** 

investorrelations@frontviewreit.com

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**FRONTVIEW REIT, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(Unaudited)**

*(in thousands, except share and per share amounts)*

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| | | |
|:---|:---|:---|
|  | **March 31,<br>2026** | **December 31,<br>2025** |
| **ASSETS** |  |  |
| &nbsp;&nbsp;&nbsp;Real estate held for investment, at cost |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Land | $**337130** | $329478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Buildings and improvements | **430646** | 417393 |
| &nbsp;&nbsp;&nbsp;Total real estate held for investment, at cost | **767776** | 746871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: accumulated depreciation | **(50846)** | (48204) |
| &nbsp;&nbsp;&nbsp;Real estate held for investment, net | **716930** | 698667 |
| &nbsp;&nbsp;&nbsp;Assets held for sale | **14065** | 12493 |
| &nbsp;&nbsp;&nbsp;Mortgage loans receivable | **10320** | 10324 |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | **9294** | 13518 |
| &nbsp;&nbsp;&nbsp;Intangible lease assets, net | **97352** | 99489 |
| &nbsp;&nbsp;&nbsp;Other assets | **21807** | 19952 |
| **Total assets** | $**869768** | $854443 |
| **LIABILITIES AND EQUITY** |  |  |
| **Liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;Debt, net | $**312926** | $314251 |
| &nbsp;&nbsp;&nbsp;Intangible lease liabilities, net | **14173** | 14474 |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities | **28510** | 32494 |
| **Total liabilities** | **355609** | 361219 |
| **Equity** |  |  |
| &nbsp;&nbsp;&nbsp;FrontView REIT, Inc. equity |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A Convertible Preferred Stock, $0.01 par value 750,000 shares authorized, 250,000 shares issued and outstanding as of March 31, 2026 (liquidation preference $25,000) | **3** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stock, $0.01 par value 450,000,000 shares authorized, 22,456,734 and 22,111,165 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively | **224** | 221 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | **450037** | 420024 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | **(32886)** | (28149) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income (loss) | **703** | (901) |
| &nbsp;&nbsp;&nbsp;Total FrontView REIT, Inc. equity | **418081** | 391195 |
| &nbsp;&nbsp;&nbsp;Non-controlling interests | **96078** | 102029 |
| **Total equity** | **514159** | 493224 |
| **Total liabilities and equity** | $**869768** | $854443 |

---

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**FRONTVIEW REIT, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(Unaudited)**

*(in thousands, except share and per share amounts)*

---

| | | |
|:---|:---|:---|
|  | **For the three months ended March 31,** | **For the three months ended March 31,** |
|  | **2026** | **2025** |
| **Revenues** |  |  |
| &nbsp;&nbsp;Rental revenues | $**17976** | $16243 |
| &nbsp;&nbsp;Interest income on mortgage loans | **209** | **—** |
| &nbsp;&nbsp;Total revenues | **18185** | 16243 |
| **Operating expenses** |  |  |
| &nbsp;&nbsp;Depreciation and amortization | **7672** | 7814 |
| &nbsp;&nbsp;Property operating expenses | **2330** | 2376 |
| &nbsp;&nbsp;General and administrative expenses | **3651** | 2830 |
| &nbsp;&nbsp;Total operating expenses | **13653** | 13020 |
| **Other expenses (income)** |  |  |
| &nbsp;&nbsp;Interest expense | **4213** | 4497 |
| &nbsp;&nbsp;Gain on sale of real estate | **(963)** | (467) |
| &nbsp;&nbsp;Impairment loss | **812** | 428 |
| &nbsp;&nbsp;Income taxes | **70** | 102 |
| &nbsp;&nbsp;Total other expenses | **4132** | 4560 |
| **Net income (loss)** | **400** | (1337) |
| Net income (loss) attributable to non-controlling interests | **80** | (504) |
| Net income (loss) attributable to FrontView REIT, Inc. | **320** | (833) |
| Series A Convertible Preferred Stock dividends | **(239)** |  |
| Net income (loss) attributable to common stockholders | $**81** | $(833) |
| **Weighted average number of common shares outstanding** |  |  |
| &nbsp;&nbsp;Basic and diluted | **22279016** | 17319742 |
| **Earnings per share attributable to common stockholders** |  |  |
| &nbsp;&nbsp;Basic and diluted | $**0.00** | $(0.06) |

---

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# Reconciliation of Non-GAAP Measures
The following is a reconciliation of net income (loss) (which is the most comparable GAAP measure) to FFO and AFFO:

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| | | |
|:---|:---|:---|
|  | **For the three months ended March 31,** | **For the three months ended March 31,** |
| *(unaudited, in thousands, except share, per share amounts and percentages)* | **2026** | **2025** |
| **Net income (loss)** | $400 | $(1337) |
| &nbsp;&nbsp;Less: Series A Convertible Preferred Stock dividends | (239) |  |
| Net income (loss) attributable to OP common unitholders | 161 | (1337) |
| &nbsp;&nbsp;Depreciation and amortization <sup>(1)</sup> | 7672 | 7814 |
| &nbsp;&nbsp;Gain on sale of real estate | (963) | (467) |
| &nbsp;&nbsp;Impairment loss | 812 | 428 |
| **Funds from Operations ("FFO")** | $7682 | $6438 |
| &nbsp;&nbsp;Straight-line rent adjustments | (434) | (122) |
| &nbsp;&nbsp;Amortization of financing transaction and discount costs | 395 | 395 |
| &nbsp;&nbsp;Amortization of above/below market lease intangibles | 621 | 711 |
| &nbsp;&nbsp;Stock-based compensation | 1061 | 615 |
| &nbsp;&nbsp;Adjustment for structuring and public company readiness costs |  | 201 |
| &nbsp;&nbsp;Other non-recurring expenses <sup>(2)</sup> | 165 |  |
| **Adjusted Funds from Operations ("AFFO")** | $9490 | $8238 |
| **FFO per share** | $**0.27** | $**0.23** |
| **AFFO per share** | $**0.34** | $**0.30** |
| Dividends per share | $0.215 | $0.215 |
| Dividends per share as a percentage of AFFO | 63.2% | 71.7% |
| Weighted average common shares outstanding, basic | 22279016 | 17319742 |
| &nbsp;&nbsp;Weighted average operating partnership units outstanding | 5599015 | 10503084 |
| &nbsp;&nbsp;Unvested restricted stock units and LTIP units <sup>(3)</sup> | 186055 |  |
| Weighted average common shares outstanding, diluted <sup>(4)</sup> | 28064086 | 27822826 |

---

*(1) Includes write-offs of intangibles $0.3 million for three months ended March 31, 2026.*

*(2) Other non-recurring expenses include one-time legal expenses, deal pursuit costs and other non-recurring items.*

*(3) Excludes unvested performance based LTIP awards that are contingently issuable.*

*(4) Represents weighted average common shares outstanding, diluted, excluding any shares issuable upon conversion of the Company's Series A Convertible Preferred Stock.*

We compute FFO in accordance with the standards established by the Board of Governors of the National Association of Real Estate Investment Trusts ("Nareit"). Nareit defines FFO as GAAP net income or loss adjusted to exclude net gains (losses) from sales of certain depreciated real estate assets, depreciation and amortization expense from real estate assets, gains and losses from change in control, and impairment charges related to certain previously depreciated real estate assets. Our leases typically include cash rents that increase through lease escalations over the term of the lease. Our leases do not typically include significant front-loading or back-loading of payments, or significant rent-free periods. Therefore, we find it useful to evaluate rent on a contractual basis as it allows for comparison of existing rental rates to market rental rates. To derive AFFO, we modify the Nareit computation of FFO to include other adjustments to GAAP net income related to certain non-cash or non-recurring revenues and expenses, including, as applicable, straight-line rents, cost of debt extinguishments, amortization of lease intangibles, amortization of debt issuance costs, amortization of net mortgage premiums, (gain) loss on interest rate swaps and other non-cash interest expense, realized gains or losses on foreign currency transactions, Internalization expenses, structuring and public company readiness costs, Series A Convertible Preferred Stock dividends, extraordinary items, and other specified non-cash items. We believe that such items are not indicative of operating performance and thus we believe excluding such items assists management and investors in distinguishing whether changes in our operations are due to growth or decline of operations at our properties or from other factors.

------

Neither the SEC nor any other regulatory body has passed judgment on the acceptability of the adjustments to FFO that we use to calculate AFFO. In the future, the SEC, Nareit or another regulatory body may decide to standardize the allowable adjustments across the REIT industry and in response to such standardization we may have to adjust our calculation and characterization of AFFO accordingly.

The following is a reconciliation of net income (which is the most comparable GAAP measure) to EBITDA, EBITDAre, Adjusted EBITDAre, Adjusted NOI and Adjusted Cash NOI:

---

| | |
|:---|:---|
|  | **Three months ended March 31,** |
| *(unaudited, in thousands)* | **2026** |
| **Net income** | 400 |
| &nbsp;&nbsp;Depreciation and amortization <sup>(1)</sup> | 8023 |
| &nbsp;&nbsp;Interest expense | 4213 |
| &nbsp;&nbsp;Income taxes | 70 |
| **EBITDA** | 12706 |
| &nbsp;&nbsp;Gain on sale of real estate | (963) |
| &nbsp;&nbsp;Impairment loss | 812 |
| **EBITDAre** | 12555 |
| &nbsp;&nbsp;Adjustments: |  |
| &nbsp;&nbsp;&nbsp;Current period investment activity <sup>(2)</sup> | 362 |
| &nbsp;&nbsp;&nbsp;Current period disposition activity <sup>(2)</sup> | (20) |
| &nbsp;&nbsp;&nbsp;Non-cash compensation expense | 1061 |
| &nbsp;&nbsp;&nbsp;Exclude non-recurring expenses <sup>(3)</sup> | 165 |
| &nbsp;&nbsp;&nbsp;Exclude write-offs of amortization of intangibles | 270 |
| **Adjusted EBITDAre** | 14393 |
| &nbsp;&nbsp;General and administrative, net of non-recurring | 2425 |
| **Adjusted Net Operating Income ("NOI")** | 16818 |
| &nbsp;&nbsp;Straight-line rental revenue, net | (429) |
| **Adjusted Cash NOI** | 16389 |
| **Annualized Adjusted EBITDAre** | 57572 |
| **Annualized Adjusted NOI** | 67272 |
| **Annualized Adjusted Cash NOI** | 65556 |

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*(1) Includes amortization of above/below market lease intangibles of $0.6 million and excludes write-offs of intangibles of $0.3 million.*

*(2) Reflects an adjustment to give effect to all investments and dispositions during the quarter as if they had been acquired or disposed as of the beginning of the period.*

*(3) Reflects an adjustment to exclude non-recurring expenses including one-time legal expenses, deal pursuit costs and other non-recurring items.*

We compute EBITDA as earnings before interest, income taxes and depreciation and amortization. EBITDA is a measure commonly used in our industry. We believe that EBITDA provides investors and analysts with a measure of our performance that includes our operating results unaffected by the differences in capital structures, capital investment cycles and useful life of related assets compared to other companies in our industry. In 2017, Nareit issued a white paper recommending that companies that report EBITDA also report EBITDAre in financial reports. We compute EBITDAre in accordance with the definition adopted by Nareit. Nareit defines EBITDAre as EBITDA (as defined above) excluding gains (loss) from the sales of depreciable property and provisions for impairment on investment in real estate. We believe EBITDA and EBITDAre are useful to investors and analysts because they provide important supplemental information about our operating performance exclusive of certain non-cash and other costs.

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EBITDA and EBITDAre are not measures of financial performance under GAAP, and our EBITDA and EBITDAre may not be comparable to similarly titled measures of other companies. You should not consider our EBITDA and EBITDAre as alternatives to net income or cash flows from operating activities determined in accordance with GAAP.

We compute Adjusted EBITDAre as EBITDAre for the applicable quarter, as adjusted to (i) reflect all investment and disposition activity that took place during the applicable quarter as if each transaction had been completed on the first day of the quarter, (ii) exclude certain GAAP income and expense amounts that we believe are infrequent and unusual in nature because they relate to unique circumstances or transactions that had not previously occurred and which we do not anticipate occurring in the future, (iii) eliminate the impact of lease termination fees from certain of our tenants, and (iv) exclude non-cash stock-based compensation expense. Annualized Adjusted EBITDAre is calculated by multiplying Adjusted EBITDAre for the applicable quarter by four, which we believe provides a meaningful estimate of our current run rate for all of our investments as of the end of the most recently completed quarter given the contractual nature of our long-term net leases. You should not unduly rely on this measure as it is based on assumptions and estimates that may prove to be inaccurate. Our actual Adjusted EBITDAre for future periods may be significantly different from our Annualized Adjusted EBITDAre.

Adjusted EBITDAre and Annualized Adjusted EBITDAre are not measurements of performance under GAAP, and our Adjusted EBITDAre and Annualized Adjusted EBITDAre may not be comparable to similarly titled measures of other companies. You should not consider our Adjusted EBITDAre and Annualized Adjusted EBITDAre as alternatives to net income or cash flows from operating activities determined in accordance with GAAP.

Adjusted Net Operating Income ("NOI") and Adjusted Cash NOI are non-GAAP financial measures which we use to assess our operating results. We compute Adjusted NOI as Adjusted EBITDAre excluding general and administration expenses. We further adjust Adjusted NOI for non-cash revenue components of straight-line rent and other amortization expense to derive Adjusted Cash NOI. We believe Adjusted NOI and Adjusted Cash NOI provide useful and relevant information because they reflect only those income and expense items that are incurred at the property level.

Adjusted NOI and Adjusted Cash NOI are not measurements of financial performance under GAAP and may not be comparable to similarly titled measures of other companies. You should not consider Adjusted NOI and Adjusted Cash NOI as alternatives to net income or cash flows from operating activities determined in accordance with GAAP.

Annualized Adjusted NOI is calculated by multiplying Adjusted NOI for the applicable quarter by four and Annualized Adjusted Cash NOI is calculated by multiplying Adjusted Cash NOI for the applicable quarter by four. We believe these annualized figures provide a meaningful estimate of our current run rate for all of our investments as of the end of the most recently completed quarter given the contractual nature of our long-term net leases. You should not unduly rely on these measures as they are based on assumptions and estimates that may prove to be inaccurate. Our actual Adjusted NOI and Adjusted Cash NOI for future periods may be significantly different from our Annualized Adjusted NOI and Annualized Adjusted Cash NOI.

The following table reconciles total debt (which is the most comparable GAAP measure) to Net Debt and Adjusted Net Debt, and presents the ratios of Net Debt to Annualized Adjusted EBITDAre and Adjusted Net Debt to Annualized Adjusted EBITDAre:

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| | |
|:---|:---|
|  | **As of March 31,** |
| *(unaudited, in thousands)* | **2026** |
| Debt |  |
| &nbsp;&nbsp;Term Loan | $200000 |
| &nbsp;&nbsp;Revolving Credit Facility | 114000 |
| **Gross Debt** | 314000 |
| &nbsp;&nbsp;Cash and cash equivalents | (9294) |
| **Net Debt** | $304706 |
| &nbsp;&nbsp;Net value of undrawn Series A Convertible Preferred Stock | (50000) |
| **Adjusted Net Debt** | $254706 |

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| | |
|:---|:---|
| **Leverage** |  |
| Net Debt to Annualized Adjusted EBITDAre | 5.3x |
| Adjusted Net Debt to Annualized Adjusted EBITDAre | 4.4x |

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Net Debt is a non-GAAP financial measure. We define Net Debt as our Gross Debt less cash and cash equivalents. We then adjust Net Debt by the undrawn Series A Convertible Preferred Stock to derive Adjusted Net Debt. The ratios of Net Debt to Annualized Adjusted EBITDAre and Adjusted Net Debt to Annualized Adjusted EBITDAre represent Net Debt and Adjusted Net Debt as of the end of the applicable period divided by Annualized Adjusted EBITDAre for the period, respectively. We believe that these ratios are useful to investors and analysts because they provide information about Gross Debt less cash and cash equivalents as well as Gross Debt less cash and cash equivalents and undrawn Series A Convertible Preferred Stock, which could be useful to repay debt.

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The following table summarizes our fixed charges, and presents Annualized Fixed Charges to Annualized Adjusted EBITDAre:

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| | |
|:---|:---|
|  | **As of March 31,** |
| *(unaudited, in thousands)* | **2026** |
| Interest expense | $4213 |
| Non-cash interest | (395) |
| Preferred dividends | 239 |
| Fixed charges | 4057 |
| Annualized fixed charges | 16228 |
| Fixed Charge Coverage Ratio | 3.5x |

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The Fixed Charge Ratio is the ratio of Annualized Adjusted EBITDAre to Annualized Fixed Charges. Fixed charges are computed for the applicable quarter on a consolidated basis as interest expense (excluding amortization of fees paid in cash and discounts and premiums on debt), plus regularly scheduled principal repayments of debt (excluding any balloon or similar payments), plus any preferred dividends payable in cash.

The Annualized Fixed Charges is calculated by multiplying fixed charges for the applicable quarter by four. We believe this ratio is useful to investors and analysts as it is used to evaluate our liquidity and ability to obtain financing.

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## Exhibit 99.2

![Slide 1](fvr-ex99_2s1.jpg)

Q1 2026 Quarterly Supplemental Information FrontView is an internally managed net-lease real estate investment trust ("REIT") focused on acquiring, owning, and managing properties with frontage that are leased to a diversified tenant base. Our real estate-first investment strategy is centered around highly visible properties in prominent retail corridors with strong underlying real estate fundamentals. We target properties along high-traffic roads that offer strong consumer visibility and adaptable building formats capable of supporting various businesses over time. investor.frontviewreit.com EX-99.2

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![Slide 2](fvr-ex99_2s2.jpg)

**Table of Contents** Section Page Company Overview 3 Quarterly Highlights 4 Balance Sheet 5 Income Statement 6-7 FFO and AFFO Reconciliations 8 Adjusted EBITDAre and Adjusted Cash NOI Reconciliations 9 Net Asset Value Components 10 Capital Structure Overview 11 Investment Activity 13 Disposition Activity 14 Diversification: Tenant Concepts 15-17 Diversification: Tenant Industry 18 Diversification: Property Map and Geography 19 Lease Expirations, Occupancy and Escalations 20 Non-GAAP Definitions and Explanations 22 Other Definitions and Explanations 23-24 Forward-Looking and Cautionary Statements 25 2

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![Slide 3](fvr-ex99_2s3.jpg)

Company Contact Information Pierre Revol EVP & Chief Financial Officer prevol@frontviewreit.com Company Overview FrontView is an internally managed net-lease real estate investment trust ("REIT") focused on acquiring, owning, and managing properties with frontage that are leased to a diversified tenant base. Our real estate-first investment strategy is centered around highly visible properties in prominent retail corridors with strong underlying real estate fundamentals. We target properties along high-traffic roads that offer strong consumer visibility and adaptable building formats capable of supporting various businesses over time. As of March 31, 2026, the Company owned a well-diversified portfolio of 309 properties with direct frontage across 36 U.S. states. The Company's tenants include service-oriented businesses, such as: Medical and Dental Providers Quick Service Restaurants Casual Dining Financial Institutions Other – Service Cellular Stores Fitness Operators Automotive Stores Discount Retail Automotive Dealers Convenience Stores and Gas Stations Car Washes Home Improvement Stores Pharmacies Other – Necessity Professional Services Executive Team Pierre Revol EVP and Chief Financial Officer Daniel Swanstrom Independent Director Elizabeth Frank Independent Director Drew Ireland Chief Operating Officer Charles Fitzgerald Independent Director Ernesto Perez Independent Director Sean Fukumura Chief Accounting Officer Robert Green Director Stephen Preston President and Chief Executive Officer and Chairman of the Board Noelle LeVeaux Independent Director Stephen Preston Chairman of the Board Board of Directors

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![Slide 4](fvr-ex99_2s4.jpg)

Quarterly Highlights (unaudited, dollars in thousands, except share, per share data) Note: Tenant concentration and reporting coverage are based on ABR as of March 31, 2026. A major franchisee has over 50 units. Investment grade represents tenant or guarantor rating weighted by ABR. Financial Results March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Net income (loss) $400 $(5,243) $5,547 $(4,530) $(1,337) Net earnings per common share, diluted $0.00 $(0.19) $0.19 $(0.16) $(0.06) Funds from operations (FFO) $7,682 $6,058 $6,866 $6,720 $6,438 FFO per share, diluted $0.27 $0.22 $0.25 $0.24 $0.23 Adjusted funds from operations (AFFO) $9,490 $8,636 $8,829 $9,028 $8,238 AFFO per share, diluted $0.34 $0.31 $0.32 $0.32 $0.30 Dividends declared per share $0.215 $0.215 $0.215 $0.215 $0.215 Weighted average common shares outstanding, diluted 28,064,086 27,874,696 27,834,670 27,827,037 27,822,826 Key Portfolio Metrics March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Number of properties 309 303 307 319 323 Annualized base rent (ABR) $64,218 $62,852 $61,289 $62,293 $62,057 Gross real estate investment $935,036 $912,385 $890,943 $900,305 $929,856 Average rent per square foot $23.39 $23.74 $24.22 $24.01 $24.24 Rentable square footage 2,770 2,687 2,575 2,594 2,560 Weighted average lease term (WALT) 7.3 years 7.4 years 7.2 years 7.3 years 7.4 years Number of states 36 37 37 37 37 Top 10 tenant concentration 23.0% 23.7% 24.3% 22.7% 22.6% Occupancy 98.7% 98.7% 98.0% 97.8% 96.3% Ground leases 10.7% 11.5% 12.1% 11.5% 11.5% Number of concepts 156 155 152 157 150 Number of leases 327 321 323 334 329 Number of industries 16 16 16 16 15 Corporate / large franchisee (1) 95.6% 95.8% 95.3% 95.6% 95.5% Investment grade (tenant/guarantor) (2) 33.8% 34.8% 33.7% 33.1% 33.2%

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![Slide 5](fvr-ex99_2s5.jpg)

Balance Sheet (unaudited, in thousands, except share and per share amounts) March 31, 2026 December 31, 2025 Assets Real estate held for investment, at cost Land $337,130 $329,478 Buildings and improvements 430,646 417,393 Total real estate held for investment, at cost 767,776 746,871 Less: accumulated depreciation (50,846) (48,204) Real estate held for investment, net 716,930 698,667 Assets held for sale 14,065 12,493 Mortgage loans receivable 10,320 10,324 Cash and cash equivalents 9,294 13,518 Intangible lease assets, net 97,352 99,489 Other assets 21,807 19,952 Total assets $869,768 $854,443 Liabilities and equity Liabilities Debt, net $312,926 $314,251 Intangible lease liabilities, net 14,173 14,474 Accounts payable and accrued liabilities 28,510 32,494 Total liabilities 355,609 361,219 Equity FrontView REIT, Inc. equity Series A Convertible Preferred Stock, $0.01 par value 750,000 shares authorized, 250,000 shares issued and outstanding as of March 31, 2026 (liquidation preference $25,000) 3 — Common Stock, $0.01 par value 450,000,000 shares authorized, 22,456,734 and 22,111,165 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 224 221 Additional paid-in capital 450,037 420,024 Accumulated deficit (32,886) (28,149) Accumulated other comprehensive income (loss) 703 (901) Total FrontView REIT, Inc. equity 418,081 391,195 Non-controlling interests 96,078 102,029 Total equity 514,159 493,224 Total liabilities and equity $869,768 $854,443

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![Slide 6](fvr-ex99_2s6.jpg)

Income Statement For the three months ended March 31, 2026 2025 Revenues Rental revenues $17,976 $16,243 Interest income on mortgage loans 209 — Total revenues 18,185 16,243 Operating expenses Depreciation and amortization 7,672 7,814 Property operating expenses 2,330 2,376 General and administrative expenses 3,651 2,830 Total operating expenses 13,653 13,020 Other expenses (income) Interest expense 4,213 4,497 Gain on sale of real estate (963) (467) Impairment loss 812 428 Income taxes 70 102 Total other expenses 4,132 4,560 Net income (loss) 400 (1,337) Net income (loss) attributable to non-controlling interest 80 (504) Net income (loss) attributable to FrontView REIT, Inc. 320 (833) Series A Convertible Preferred Stock dividends (239) — Net income (loss) attributable to common stockholders $81 $(833) Weighted average number of common shares outstanding Basic and diluted 22,279,016 17,319,742 Earnings per share attributable to common stockholders Basic and diluted $0.00 $(0.06) (unaudited, in thousands, except share and per share amounts)

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![Slide 7](fvr-ex99_2s7.jpg)

Income Statement Detail (unaudited, in thousands, except percentages) Adjusted Cash Revenue is equal to Total revenues less reimbursable income, above/below market lease amortization,and straight-line rent. Includes termination fees, late fees, and other miscellaneous income. Revenue detail and Adjusted Cash Revenue (1) For the three months ended March 31, 2026 2025 Contractual rental amounts billed $15,770 $15,020 Reimbursable income 2,067 1,659 Percentage rent 34 34 Other operating income (2) 292 119 Adjustment to recognize contractual rental amounts on astraight-line basis 434 122 Above/below market lease amortization, net (621) (711) Total rental revenues $17,976 $16,243 Interest income on mortgage loans 209 — Total revenues 18,185 16,243 Adjusted Cash Revenue (1) $16,305 $15,173 Non-reimbursable property operating costs and Adjusted Cash G&A For the three months ended March 31, 2026 2025 Real estate taxes $1,663 $1,491 Other property operating expenses 667 885 Property operating expenses 2,330 2,376 Reimbursable income (2,067) (1,659) Less: non-recurring items — (189) Non-reimbursable property operating expenses $263 $528 Non-reimbursable property operating expenses as a % of Adjusted Cash Revenue 1.6% 3.5% General & administrative expense $3,651 $2,830 Less: non-cash compensation (1,061) (615) Less: non-recurring items (165) (12) Adjusted Cash G&A $2,425 $2,203 Adjusted Cash G&A as a % of Adjusted Cash Revenue 14.9% 14.5%

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![Slide 8](fvr-ex99_2s8.jpg)

Includes write-offs of intangibles of $0.3 million for the three months ended March 31, 2026. Other non-recurring expenses include one-time legal expenses, deal pursuit costs and other non-recurring items. Excludes unvested performance based LTIP awards that are contingently issuable. Represents weighted average common shares outstanding, diluted, excluding any shares issuable upon conversion of the Company's Series A Convertible Preferred Stock. FFO and AFFO Reconciliations (unaudited, in thousands except share and per share data) For the three months ended March 31, 2026 2025 Net income (loss) $400 $(1,337) Less: Series A Convertible Preferred Stock dividends (239) — Net income (loss) attributable to OP common unitholders 161 (1,337) Depreciation and amortization (1) 7,672 7,814 Gain on sale of real estate (963) (467) Impairment loss 812 428 Funds from operations (FFO) $7,682 $6,438 Straight-line rent adjustments (434) (122) Amortization of financing transaction and discount costs 395 395 Amortization of above/below market lease intangibles 621 711 Stock-based compensation 1,061 615 Adjustment for structuring and public company readiness costs — 201 Other non-recurring expenses (2) 165 — Adjusted funds from operations (AFFO) $9,490 $8,238 Weighted average common shares outstanding, basic 22,279,016 17,319,742 Weighted average operating partnership units outstanding 5,599,015 10,503,084 Unvested restricted stock units and LTIP units (3) 186,055 — Weighted average common shares outstanding, diluted (4) 28,064,086 27,822,826 Net earnings per diluted share $0.00 $(0.06) FFO per diluted share $0.27 $0.23 AFFO per diluted share $0.34 $0.30

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![Slide 9](fvr-ex99_2s9.jpg)

Adjusted EBITDAre and Adjusted Cash NOI Reconciliations (unaudited, in thousands) For the three months ended March 31, 2026 Net income $400 Depreciation and amortization (1) 8,023 Interest expense 4,213 Income taxes 70 EBITDA $12,706 Gain on sale of real estate (963) Impairment loss 812 EBITDAre $12,555 Adjustments: Current period investment activity (2) 362 Current period disposition activity (2) (20) Non-cash compensation expense 1,061 Exclude non-recurring expenses (3) 165 Exclude write-offs of amortization of intangibles 270 Adjusted EBITDAre $14,393 General and administrative, net of non-recurring 2,425 Adjusted NOI $16,818 Straight-line rental revenue, net (429) Adjusted Cash NOI $16,389 Annualized Adjusted EBITDAre $57,572 Annualized Adjusted NOI $67,272 Annualized Adjusted Cash NOI $65,556 Includes amortization of above/below market lease intangibles of $0.6 million and excludes write-offs of intangibles of $0.3 million. Reflects an adjustment to give effect to all investments and dispositions during the quarter as if they had been acquired or disposed of as of the beginning of the quarter. Reflects an adjustment to exclude non-recurring expenses, including one-time legal expenses, deal pursuit costs and other non-recurring items.

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![Slide 10](fvr-ex99_2s10.jpg)

Net Asset Value Components (unaudited, in thousands, except share data and # of properties) Includes interest income on mortgage loans and other operating income of $0.8 million and $1.2 million. Includes components of accounts receivable (net) and deferred rent receivables (net) that are realizable assets, and $8.4 million in net book value of vacant assets. Includes accounts payable and accrued liabilities. Current liquidation value of the Series A Convertible Preferred Stock is $25.0 million. Gross RealEstate Investment # ofProperties RentableSquare Feet AnnualizedBase Rent Ann. Adjusted Cash NOI (1) Real estate portfolio $935,036 309 2,770 $64,218 $65,556 Tangible assets Cash and cash equivalents 9,294 Mortgage receivable principal outstanding 10,320 Other tangible assets (2) 21,847 Total tangible assets $41,461 Debt Term loan 200,000 Revolving credit facility 114,000 Total debt $314,000 Tangible liabilities Dividends payable 6,402 Other tangible liabilities (3) 22,109 Total tangible liabilities $28,511 Shares outstanding Common Shares outstanding, at the end of the period 22,456,734 Operating Partnership units, at the end of the period 5,469,910 If converted Series A Convertible Preferred Stock, at the end of the period (4) 1,470,588 Shares outstanding, assuming full conversion of Series A Convertible Preferred Stock 29,397,232

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![Slide 11](fvr-ex99_2s11.jpg)

Q1 2026 Capital Structure Overview Note: Metrics as of March 31, 2026. The revolving credit facility has four hedges for a notional amount of $100.0 million that expires on March 31, 2028. Maturity date assumes both 12-month extension options are exercised. Initial maturity is October 3, 2027. Equity value as of March 31, 2026, was $15.47. Fixed Charge Coverage Ratio represents Adjusted Annualized EBITDAre divided by Annualized Fixed Charges. Net debt and adjusted net debt to annualized adjusted EBITDAre Interest rate Fixed rate SOFR swap Max maturity March 31, 2026 (000s) Term loan 4.81% 3.66% 10/3/2029 (2) $200,000 Revolving credit facility SOFR + 1.15% 2.92% - 3.28% (1) 10/3/2029 (2) 114,000 Gross debt $314,000 Cash and cash equivalents (9,294) Net debt $304,706 Less: Net value of undrawn Series A convertible preferred stock (50,000) Adjusted net debt $254,706 Annualized adjusted EBITDAre $57,572 Net debt to annualized adjusted EBITDAre 5.3x Adjusted net debt to annualized adjusted EBITDAre 4.4x Fixed charge coverage ratio (000s) Interest expense $4,213 Non-cash interest (395) Preferred dividends 239 Fixed charges 4,057 Annualized Fixed Charges $16,228 Fixed Charge Coverage Ratio (4) 3.5x Liquidity (000s) Net value of undrawn Series A convertible preferred stock $50,000 Undrawn revolving credit facility capacity 136,000 Cash and cash equivalents 9,294 Total liquidity $195,294 Term Loan and Credit Facility Covenants Total leverage ratio ≤ 60% 32.6% Adjusted EBITDA to fixed charges ratio ≥ 1.50 to 1.00 3.5x Secured leverage ratio ≤ 40% 0.0% Unencumbered NOI to unsecured interest expense ratio ≥ 1.75 to 1.00 4.1x Unsecured leverage ratio ≤ 60% 32.9% Tangible net worth ≥ $380,032 $640,587 Capital Structure Total Capitalization $771M CommonStock (3) 45.1% OP Units (3) 11.0% Series A convertible preferred stock 3.2% Sub-35% Leverage Ratio With Ample Liquidity Through Preferred Equity and Bank Debt Capacity

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![Slide 12](fvr-ex99_2s12.jpg)

Capital Deployment YTD Investment Activity and Dispositions

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![Slide 13](fvr-ex99_2s13.jpg)

Trailing Twelve MonthsInvestment Activity Note: Weightings are based on purchase price. (1) Includes near-term lease amendments as the underwritten capitalization rate. Acquisitions ($ in thousands) Q1 2026 Q4 2025 Q3 2025 Q2 2025 TTM Number of properties 10 7 3 5 25 Average annual escalators 1.5% 1.2% 0.4% 2.4% 1.4% Investment grade % 17.2% 55.3% 31.0% 17.9% 33.8% Weighted average lease term (WALT) 9.4 13.1 10.7 11.0 11.3 Purchase price $33,856 $41,300 $15,771 $17,799 $108,726 Cash capitalization rate (1) 7.49% 7.46% 7.48% 8.17% 7.59% Economic yield 7.80% 7.83% 7.56% 9.35% 8.03% Representative Tenant Concepts $33,856 $41,300 $15,771 $17,799 $108,726

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![Slide 14](fvr-ex99_2s14.jpg)

Trailing Twelve MonthsDisposition Activity Note: Weightings are based on gross proceeds. Dispositions ($ in thousands) Q1 2026 Q4 2025 Q3 2025 Q2 2025 TTM Number of vacant properties 3 4 2 4 13 Number of leased properties 2 7 13 5 27 Gross proceeds on vacant properties $5,725 $2,645 $2,800 $11,055 $22,225 Gross proceeds on leased properties $3,935 $17,795 $30,097 $11,606 $63,433 Weighted average lease term (WALT) 8.0 6.9 8.0 8.0 7.7 Total gross proceeds $9,660 $20,440 $32,897 $22,661 $85,658 Disposition capitalization rate on leased properties 6.89% 6.82% 6.78% 6.75% 6.79% Representative Tenant Concepts $9,660 $20,440 $32,897 $22,661 $85,658

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![Slide 15](fvr-ex99_2s15.jpg)

Tenant Concepts 1-52 # Tenant Concept # of Leases % of ABR Investment Grade Rated Credit Rating (S&P / Moody's / Fitch) 1 Dollar Tree 13 3.10% ✓ BBB- / Baa2 2 Fast Pace Urgent Care 8 2.74% — N/A 3 Verizon 9 2.64% ✓ BBB+ / Baa1 / A- 4 Raising Canes 6 2.34% — BB- 5 LA Fitness 3 2.21% — B / B2 6 Dick's 1 2.16% ✓ BBB / Baa3 7 Oak Street Health 6 2.09% — N/A 8 IHOP 7 1.92% — N/A 9 Mammoth Car Wash 6 1.90% — N/A 10 Bank of America 5 1.86% ✓ A- / A1/ AA- 11 Range USA 3 1.84% — N/A 12 LA-Z-Boy 3 1.79% — N/A 13 Adams Auto Group 2 1.70% — N/A 14 AT&T 6 1.66% ✓ BBB / Baa2 / BBB+ 15 T-Mobile 9 1.64% ✓ BBB / Baa1 / BBB+ 16 Chili's 3 1.54% — BB+ / Ba2 17 PNC Bank 5 1.52% ✓ A+ / Aa3 / A+ 18 Wells Fargo 3 1.36% ✓ A+ / Aa2 / A+ 19 St. Joseph Hospice 2 1.34% — N/A 20 Heartland Dental 5 1.28% — N/A 21 Advance Auto Parts 7 1.28% — BB+ / Ba3 22 Aspen Dental 6 1.28% — N/A 23 Lowe's Home Improvement 1 1.17% ✓ BBB+ / Baa1 24 Academy Sports 1 1.11% — BB+ / Ba2 25 Charles Schwab 1 1.11% ✓ A- / A2 / A 26 VASA Fitness 1 1.10% — N/A # Tenant Concept # of Leases % of ABR Investment Grade Rated Credit Rating (S&P / Moody's / Fitch) 1 Dollar Tree 13 3.10% ✓ BBB- / Baa2 2 Fast Pace Urgent Care 8 2.74% — N/A 3 Verizon 9 2.64% ✓ BBB+ / Baa1 / A- 4 Raising Canes 6 2.34% — BB- 5 LA Fitness 3 2.21% — B / B2 6 Dick's 1 2.16% ✓ BBB / Baa3 7 Oak Street Health 6 2.09% — N/A 8 IHOP 7 1.92% — N/A 9 Mammoth Car Wash 6 1.90% — N/A 10 Bank of America 5 1.86% ✓ A- / A1/ AA- 11 Range USA 3 1.84% — N/A 12 LA-Z-Boy 3 1.79% — N/A 13 Adams Auto Group 2 1.70% — N/A 14 AT&T 6 1.66% ✓ BBB / Baa2 / BBB+ 15 T-Mobile 9 1.64% ✓ BBB / Baa1 / BBB+ 16 Chili's 3 1.54% — BB+ / Ba2 17 PNC Bank 5 1.52% ✓ A+ / Aa3 / A+ 18 Wells Fargo 3 1.36% ✓ A+ / Aa2 / A+ 19 St. Joseph Hospice 2 1.34% — N/A 20 Heartland Dental 5 1.28% — N/A 21 Advance Auto Parts 7 1.28% — BB+ / Ba3 22 Aspen Dental 6 1.28% — N/A 23 Lowe's Home Improvement 1 1.17% ✓ BBB+ / Baa1 24 Academy Sports 1 1.11% — BB+ / Ba2 25 Charles Schwab 1 1.11% ✓ A- / A2 / A 26 VASA Fitness 1 1.10% — N/A 27 Parachute Plasma 2 1.03% — N/A 28 WSS 2 1.01% ✓ BBB / Baa3 29 Wendy's 5 1.00% — B+ / B2 30 Wellnow 4 0.99% — N/A 31 Walmart 1 0.98% ✓ AA / Aa2 / AA 32 Best Buy 1 0.95% ✓ BBB+ / A3 33 Andy's Frozen Custard 4 0.95% — N/A 34 Burger King 4 0.94% — BB / BB+ 35 Edge Fitness 1 0.94% — N/A 36 Chase Bank 3 0.94% ✓ A+ / Aa2 / AA- 37 Floor & Decor 1 0.93% — BB 38 Applebee's 3 0.90% — N/A 39 Walgreens 2 0.89% — N/A 40 Stop & Shop Gas 3 0.88% ✓ BBB+ / Baa1 41 CVS 2 0.87% ✓ BBB 42 Dollar General 4 0.86% ✓ BBB 43 Starbucks 5 0.79% ✓ BBB+ / Baa1 44 Sleep Number 3 0.78% — N/A 45 Action Behavior Centers 2 0.77% — N/A 46 Avis 1 0.75% — BB- 47 Chuy's Mexican 2 0.73% ✓ BBB 48 Texas Roadhouse 2 0.73% — N/A 49 Take 5 Oil Change 5 0.72% — N/A 50 Exxon 2 0.71% — N/A 51 Chipotle 4 0.71% — N/A 52 AutoSavvy 1 0.69% — N/A

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Tenant Concepts 53-104 # Tenant Concept # of Leases % of ABR Investment Grade Rated Credit Rating (S&P / Moody's / Fitch) 1 Dollar Tree 13 3.10% ✓ BBB- / Baa2 2 Fast Pace Urgent Care 8 2.74% — N/A 3 Verizon 9 2.64% ✓ BBB+ / Baa1 / A- 4 Raising Canes 6 2.34% — BB- 5 LA Fitness 3 2.21% — B / B2 6 Dick's 1 2.16% ✓ BBB / Baa3 7 Oak Street Health 6 2.09% — N/A 8 IHOP 7 1.92% — N/A 9 Mammoth Car Wash 6 1.90% — N/A 10 Bank of America 5 1.86% ✓ A- / A1/ AA- 11 Range USA 3 1.84% — N/A 12 LA-Z-Boy 3 1.79% — N/A 13 Adams Auto Group 2 1.70% — N/A 14 AT&T 6 1.66% ✓ BBB / Baa2 / BBB+ 15 T-Mobile 9 1.64% ✓ BBB / Baa1 / BBB+ 16 Chili's 3 1.54% — BB+ / Ba2 17 PNC Bank 5 1.52% ✓ A+ / Aa3 / A+ 18 Wells Fargo 3 1.36% ✓ A+ / Aa2 / A+ 19 St. Joseph Hospice 2 1.34% — N/A 20 Heartland Dental 5 1.28% — N/A 21 Advance Auto Parts 7 1.28% — BB+ / Ba3 22 Aspen Dental 6 1.28% — N/A 23 Lowe's Home Improvement 1 1.17% ✓ BBB+ / Baa1 24 Academy Sports 1 1.11% — BB+ / Ba2 25 Charles Schwab 1 1.11% ✓ A- / A2 / A 26 VASA Fitness 1 1.10% — N/A # Tenant Concept # of Leases % of ABR Investment Grade Rated Credit Rating (S&P / Moody's / Fitch) 53 Physicians Immediate Care 2 0.66% — N/A 54 Jiffy Lube 3 0.64% — N/A 55 O'Reilly Auto Parts 4 0.63% ✓ BBB / Baa1 56 Harbor Freight 2 0.62% — BB- 57 AutoZone 3 0.61% ✓ BBB / Baa1 58 WellMed 1 0.60% ✓ A+ / A2 / A 59 Planet Fitness 1 0.60% — N/A 60 7 Brew 3 0.57% — N/A 61 Circle K 2 0.54% ✓ BBB+ 62 Fulton Bank 1 0.53% ✓ Baa2 / BBB+ 63 Longhorn Steakhouse 2 0.51% ✓ BBB 64 FitzMark 1 0.51% — N/A 65 KEDPlasma 1 0.51% — N/A 66 Stanton Optical 2 0.50% — N/A 67 Panera Bread 2 0.50% ✓ BBB / Baa1 68 Miller's Ale House 1 0.49% — N/A 69 Trinity Medical Center 1 0.48% — N/A 70 Ted's Café Escondido 1 0.48% — N/A 71 Taco Bell 2 0.46% — N/A 72 Xfinity 2 0.46% ✓ A- / A3 / A- 73 Grifols 1 0.46% — B+ / B2 / B+ 74 Hooters 2 0.45% — N/A 75 Buffalo Wild Wings 1 0.45% — N/A 76 Sonic 3 0.45% — N/A 77 Jared 2 0.44% ✓ BBB- 78 Saltgrass Steakhouse 1 0.44% — N/A 79 McAlister's Deli 2 0.42% — N/A 80 7-Eleven 2 0.41% ✓ A- / A3 81 Byrider 1 0.41% — N/A 82 Mattress Firm 2 0.41% — N/A 83 Staples 1 0.40% — N/A 84 Diamonds Direct 1 0.40% ✓ BBB- 85 Arby's 2 0.40% — N/A 86 Quick Clean Carwash 1 0.39% — N/A 87 Caliber Collision 1 0.39% — N/A 88 Caliber Car Wash 1 0.39% — N/A 89 Delta Community Credit Union 1 0.39% — N/A 90 Southern Immediate Urgent Care 1 0.37% — N/A 91 Rise 1 0.37% — N/A 92 BP 1 0.37% — N/A 93 Big Blue Swim School 1 0.36% — N/A 94 Meineke 2 0.36% — N/A 95 Chuck E Cheese 1 0.34% — N/A 96 Pizza Hut 2 0.34% — N/A 97 UTMB Health 1 0.34% ✓ AAA 98 Skechers 1 0.33% — N/A 99 Friendly's 1 0.33% — N/A 100 Slim Chickens 1 0.33% — N/A 101 Sherwin Williams 2 0.32% ✓ BBB+ 102 Valvoline 2 0.31% — BB 103 Hook & Reel 1 0.30% — N/A 104 Olive Garden 1 0.29% ✓ BBB

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Tenant Concepts 105-156 # Tenant Concept # of Leases % of ABR Investment Grade Rated Credit Rating (S&P / Moody's / Fitch) 105 Mavis Discount Tire 1 0.29% — N/A 106 Hops N Drops 1 0.29% — N/A 107 Trophy Fuel & Wash 1 0.29% — N/A 108 City Barbeque 1 0.29% — N/A 109 Citizens Bank 1 0.28% ✓ BBB+ / Baa1 / BBB+ 110 AMERA Gas Station 1 0.28% — N/A 111 Roots Oil 1 0.27% — N/A 112 H&R Block 1 0.27% ✓ BBB 113 National Tire & Battery 1 0.26% — N/A 114 pOpshelf 1 0.26% ✓ BBB 115 HTeaO 2 0.26% — N/A 116 Express Oil 1 0.24% — N/A 117 Wing Daddy's 1 0.24% — N/A 118 Consumers Credit Union 1 0.24% — N/A 119 American Family Care 1 0.24% — N/A 120 Strickland Brothers 1 0.22% — N/A 121 Banner Health 1 0.22% ✓ AA- 122 Aaron's 1 0.21% — N/A 123 BMO 1 0.21% ✓ A+ / Aa2 / AA- 124 MedExpress Urgent Care 1 0.21% ✓ A+ / A2 / A 125 Republic Bank 1 0.21% — N/A 126 Sage Dental 1 0.20% — N/A 127 McDonalds 1 0.18% ✓ BBB+ / Baa1 128 Long John Silvers 1 0.18% — N/A 129 Tumbleweed, Inc. 1 0.18% — N/A 130 Panda Express (1) 2 0.18% — N/A 131 Urgent Team 1 0.17% — N/A 132 America's Best 1 0.17% — N/A 133 Chicken Salad Chick 1 0.17% — N/A 134 MOD Pizza 1 0.17% — N/A 135 Elias Diamonds 1 0.16% — N/A 136 Zip Car Wash 1 0.15% — N/A 137 Go Health 1 0.15% — N/A 138 Popeyes 1 0.15% — N/A 139 Bojangles 1 0.14% — N/A 140 Granny's 1 0.14% — N/A 141 Valero 1 0.12% — N/A 142 Nothing Bundt Cakes 1 0.12% — N/A 143 Jimmy John's 1 0.11% — N/A 144 Dunkin Donuts 1 0.11% — N/A 145 Church's Chicken 1 0.11% — N/A 146 Falafel King 1 0.10% — N/A 147 Tropical Smoothie 1 0.10% — N/A 148 Firehouse Subs 1 0.09% — N/A 149 Auto Glass Now 1 0.06% — N/A 150 Miracle Ear 1 0.06% — N/A 151 Marquette Bank 1 0.05% — N/A 152 Regions Banks ATM 1 0.02% ✓ BBB+ / A- 153 By Gollys (2) 2 0.00% — N/A 154 PATH USA (2) 1 0.00% — N/A 155 Jaggers (2) 1 0.00% — N/A 156 Hair Palace (2) 1 0.00% — N/A Total Portfolio 327 100.00% Panda Express leases one property that is currently paying rent; the other Panda Express is under a new lease, and isexcluded from ABR. Represents new leases where rent has not yet commenced and is excluded from ABR.

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Diversification: Tenant Industry (in thousands, except for # of leases, percentages and rent per square foot) Industry Defensive Mix # of Leases ABR % of ABR Leased Square Feet (000s) Rent per Square Foot Medical and Dental Providers Necessity 53 $10,819 16.8% 329 $32.88 Quick Service Restaurants Service 62 $8,052 12.5% 174 $46.28 Other - Service Service 25 $7,870 12.3% 441 $17.85 Casual Dining Service 35 $6,699 10.4% 206 $32.52 Financial Institutions Necessity 25 $5,588 8.7% 134 $41.70 Cellular Stores Service 26 $4,112 6.4% 95 $43.28 Automotive Stores Necessity 32 $3,856 6.0% 194 $19.88 Fitness Operators Service 7 $3,340 5.2% 215 $15.53 Discount Retail Discount 18 $2,704 4.2% 196 $13.80 Convenience Stores and Gas Stations Necessity 14 $2,485 3.9% 37 $67.16 Automotive Dealers Service 5 $2,281 3.6% 77 $29.62 Car Washes Service 9 $1,824 2.8% 33 $55.27 Home Improvement Stores Necessity 5 $1,689 2.6% 263 $6.42 Other - Necessity Necessity 6 $1,597 2.5% 295 $5.41 Pharmacies Necessity 4 $1,129 1.8% 52 $21.71 Professional Services Service 1 $173 0.3% 4 $43.25 Total 327 $64,218 100.0% 2,745 $23.39 Industry Mix / Defensive Mix Convenience Stores and Gas Stations Discount Retail Medical and Dental Providers Financial Institutions Automotive Stores Home Improvement Stores Other - Necessity Pharmacies Casual Dining Quick Service Restaurants Other - Service Cellular Stores Fitness Operators Automotive Dealers Car Washes Professional Services

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Diversification: Property Map and Geography Placer.ai ranks locations from 1 to 100, with 1 being the best, based on retail subcategories determined by visitations. A score of 50 indicates an average location. MA MN ID AZ CO NV UT AR KS MO OK LA TX CT RI AL FL GA MS SC IL IN KY NC OH TN VA WI MD NJ NY PA ME MI NE 8.6% MI 2.2% 0.7% 2.1% 0.4% 0.5% 0.3% 2.7% 1.8% 0.5% 2.3% 0.3% 14.1% 2.5% 0.3% 2.1% 1.8% 2.3% 5.4% 7.1% 2.8% 5.8% 4.1% 1.7% 4.4% 0.2% 0.5% 2.9% 4.2% 4.6% 3.9% 3.3% 1.7% 1.4% 0.2% 0.3% % based on ABR State # of Properties Square Feet (000s) % of ABR IL 36 358 14.1 % TX 25 160 8.6 % GA 22 157 7.1 % NC 16 191 5.8 % FL 15 149 5.4 % OH 22 127 4.6 % VA 15 90 4.4 % IN 16 81 4.2 % TN 12 95 4.1 % PA 8 145 3.9 % NY 8 242 3.3 % MI 10 68 2.9 % SC 10 87 2.8 % OK 11 60 2.7 % MO 8 49 2.5 % AL 9 40 2.3 % MN 7 72 2.3 % MD 6 43 2.2 % LA 5 52 2.1 % State # of Properties Square Feet (000s) % of ABR AZ 6 40 2.1 % KS 6 37 1.8 % MS 3 77 1.8 % KY 8 40 1.7 % ME 3 186 1.7 % NJ 7 40 1.4 % CT 2 5 0.7 % UT 2 22 0.5 % CO 2 10 0.5 % NE 2 20 0.5 % NV 1 4 0.4 % AR 1 3 0.3 % WI 1 10 0.3 % ID 1 6 0.3 % RI 1 1 0.3 % MA 1 2 0.2 % WV 1 1 0.2 % Total 309 2,770 100.0% Portfolio 309 Properties 36 States 28.6 Score Median Placer.ai Ranking (1)

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Occupancy Lease Expirations, Occupancyand Escalations Includes contractual rent increases on tenant renewal options to the extent a lease is at the end of its initial term.Approximately 22% escalate annually, 2.5% have no escalations, and the remainder have larger escalators every three to five years. Year Number ofLeases Leased Square Feet (000s) ABR (000s) % of ABR 2026 10 39 $1,313 2.0% 2027 33 379 $6,889 10.7% 2028 26 135 $3,765 5.9% 2029 30 187 $5,690 8.9% 2030 30 179 $5,895 9.2% 2031 34 188 $5,554 8.6% 2032 23 410 $5,539 8.6% 2033 23 164 $4,410 6.9% 2034 20 175 $3,947 6.2% Thereafter 98 889 $21,216 33.0% Total 327 2,745 $64,218 100.0% Vacant Assets 7 12 7 6 4 4 Escalation Types (1) 1.7% Weighted AverageRent Growth

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Appendix Definitions and Forward-Looking Statements

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EBITDA, EBITDAre, Adjusted EBITDAre, and Annualized Adjusted EBITDAre: EBITDA, EBITDAre, Adjusted EBITDAre, and Annualized Adjusted EBITDAre are non-GAAP financial measures. We compute EBITDA as earnings before interest, income taxes and depreciation and amortization. EBITDA is a measure commonly used in our industry. We believe that EBITDA provides investors and analysts with a measure of our performance that includes our operating results unaffected by the differences in capital structures, capital investment cycles and useful life of related assets compared to other companies in our industry. In 2017, Nareit issued a white paper recommending that companies that report EBITDA also report EBITDAre in financial reports. We compute EBITDAre in accordance with the definition adopted by Nareit. Nareit defines EBITDAre as EBITDA (as defined above) excluding gains (loss) from the sales of depreciable property and provisions for impairment on investment in real estate. We believe EBITDA and EBITDAre are useful to investors and analysts because they provide important supplemental information about our operating performance exclusive of certain non-cash and other costs. EBITDA and EBITDAre are not measures of financial performance under GAAP, and our EBITDA and EBITDAre may not be comparable to similarly titled measures of other companies. You should not consider our EBITDA and EBITDAre as alternatives to net income or cash flows from operating activities determined in accordance with GAAP. We compute Adjusted EBITDAre as EBITDAre for the applicable quarter, as adjusted to (i) reflect all investment and disposition activity that took place during the applicable quarter as if each transaction had been completed on the first day of the quarter, (ii) exclude certain GAAP income and expense amounts that we believe are infrequent and unusual in nature because they relate to unique circumstances or transactions that had not previously occurred and which we do not anticipate occurring in the future, (iii) eliminate the impact of lease termination fees from certain of our tenants, and (iv) exclude non-cash stock-based compensation expense. Annualized Adjusted EBITDAre is calculated by multiplying Adjusted EBITDAre for the applicable quarter by four, which we believe provides a meaningful estimate of our current run rate for all of our investments as of the end of the most recently completed quarter given the contractual nature of our long-term net leases. You should not unduly rely on this measure as it is based on assumptions and estimates that may prove to be inaccurate. Our actual EBITDAre for future periods may be significantly different from our Annualized Adjusted EBITDAre. Adjusted EBITDAre and Annualized Adjusted EBITDAre are not measurements of performance under GAAP, and our Adjusted EBITDAre and Annualized Adjusted EBITDAre may not be comparable to similarly titled measures of other companies. You should not consider our Adjusted EBITDAre and Annualized Adjusted EBITDAre as alternatives to net income or cash flows from operating activities determined in accordance with GAAP. Funds From Operations (FFO) and Adjusted Funds From Operations (AFFO): FFO and AFFO are non-GAAP measures. We compute FFO in accordance with the standards established by the Board of Governors of the National Association of Real Estate Investment Trusts ("Nareit"). Nareit defines FFO as GAAP net income or loss adjusted to exclude net gains (losses) from sales of certain depreciated real estate assets, depreciation and amortization expense from real estate assets, gains and losses from change in control, and impairment charges related to certain previously depreciated real estate assets. Our leases typically include cash rents that increase through lease escalations over the term of the lease. Our leases do not typically include significant front-loading or back-loading of payments, or significant rent-free periods. Therefore, we find it useful to evaluate rent on a contractual basis as it allows for comparison of existing rental rates to market rental rates. To derive AFFO, we modify the Nareit computation of FFO to include other adjustments to GAAP net income related to certain non-cash or non-recurring revenues and expenses, including, as applicable, straight-line rents, cost of debt extinguishments, amortization of lease intangibles, amortization of debt issuance costs, amortization of net mortgage premiums, (gain) loss on interest rate swaps and other non-cash interest expense, realized gains or losses on foreign currency transactions, Internalization expenses, structuring and public company readiness costs, extraordinary items, and other specified non-cash items. We believe that such items are not indicative of operating performance and thus we believe excluding such items assists management and investors in distinguishing whether changes in our operations are due to growth or decline of operations at our properties or from other factors. We believe the use of FFO and AFFO are useful to investors because they are widely accepted industry measures used by analysts and investors to compare the operating performance of REITs. FFO and AFFO should not be considered alternatives to net income as a performance measure or to cash flows from operations, as reported on our statement of cash flows, or as a liquidity measure and should be considered in addition to, and not in lieu of, GAAP financial measures. Adjusted NOI, Annualized Adjusted NOI, and Cash NOI: Adjusted NOI, Annualized Adjusted NOI, Cash NOI, and Adjusted Cash NOI are non-GAAP financial measures which we use to assess our operating results. We compute Adjusted NOI as Adjusted EBITDAre excluding general and administration expenses. We further adjust Adjusted NOI for non-cash revenue components of straight-line rent and other amortization expense to derive Adjusted Cash NOI. We believe Adjusted NOI and Adjusted Cash NOI provide useful and relevant information because they reflect only those income and expense items that are incurred at the property level. Adjusted NOI and Adjusted Cash NOI are not measurements of financial performance under GAAP and may not be comparable to similarly titled measures of other companies. You should not consider Adjusted NOI and Adjusted Cash NOI as alternatives to net income or cash flows from operating activities determined in accordance with GAAP. Annualized Adjusted NOI is calculated by multiplying Adjusted NOI for the applicable quarter by four and Annualized Adjusted Cash NOI is calculated by multiplying Adjusted Cash NOI for the applicable quarter by four. We believe these annualized figures provide a meaningful estimate of our current run rate for all of our investments as of the end of the most recently completed quarter given the contractual nature of our long-term net leases. You should not unduly rely on these measures as they are based on assumptions and estimates that may prove to be inaccurate. Our actual Adjusted NOI and Adjusted Cash NOI for future periods may be significantly different from our Annualized Adjusted NOI and Annualized Adjusted Cash NOI. Fixed Charge Coverage Ratio (FCCR): The fixed charge coverage ratio is the ratio of Annualized Adjusted EBITDAre to annualized fixed charges. Fixed charges are computed on a consolidated basis as interest expense (excluding amortization of fees paid in cash and discounts and premiums on debt), plus regularly scheduled principal repayments of debt (excluding any balloon or similar payments), plus any preferred dividends payable in cash. The annualized fixed charges is calculated by multiplying fixed charges for the applicable quarter by four. Our actual fixed charges for future periods may be significantly different from our annualized fixed charges. We believe this ratio is useful to investors and analysts as it is used to evaluate our liquidity and ability to obtain financing. Non-GAAP Definitionsand Explanations

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Other Definitions andExplanations Cash Capitalization Rate: Cash Capitalization Rate is calculated by measuring the annualized contractual cash rent at the time of closing, divided by the purchase price of the related property. Concept: Represents the brand or trade name the tenant operates. Disposition Capitalization Rate: Disposition Capitalization Rate is calculated by the ABR on the date of the related disposition divided by the gross sale price. Defensive Mix: Defensive Mix is a term used by us to categorize tenants determined by their area of focus: (1) Necessity, which represents tenants providing essential services or selling essential goods to consumers and includes Medical and Dental Providers, Financial Institutions, Automotive Stores, Convenience & Gas Stores, Pharmacies, and Home Improvement Stores, (2) Service, which represents tenants who provide specific services to consumers and includes Quick Service Restaurants, Casual Diners, Automotive Dealers, Fitness Operators, Car Washes, and Professional Service, and (3) Discount, which represents tenants that sell merchandise and goods a significant discount compared to traditional retailers. Annualized Base Rent (ABR): We define ABR as the annualized contractual cash rent due for the last month of the reporting period and adjusted to remove rent from properties sold during the month and to include a full month of contractual cash rent for properties acquired during the last month of the reporting period. . Adjusted Net Debt: Adjusted Net Debt is a non-GAAP financial measure. We define Adjusted Net Debt as Net Debt less undrawn Series A convertible preferred stock. Adjusted Cash Revenue: Adjusted Cash Revenue is a non-GAAP financial measure. We define Adjusted Cash Revenue as Total Revenues, less reimbursable income, adjustments to recognize contractual rental amounts on a straight-line basis, and above/below market lease amortization. We believe this ratio is useful to investors and analysts to understand the cash revenue, excluding reimbursement income. Adjusted Cash G&A: We define Adjusted Cash G&A as total G&A less non-cash compensation and non-recurring items. We believe this ratio is useful to understand the normalized cash G&A.

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Other Definitions andExplanations (Continued) WALT: WALT represents the remaining average lease term of our leases, weighted by rent, and excluding lease renewal options and investments in mortgage loans. Purchase Price: Purchase Price is represented by the contractual acquisition price of the related property, excluding any transaction costs or other capital expenditures. Tenant: Tenant represents the legal entity responsible for fulfilling obligations under the lease agreement. Gross Debt: We define Gross Debt as total debt, net plus debt issuance costs and original issuance discount. Net Debt: Net Debt is a non-GAAP financial measure. We define Net Debt as our Debt less cash and cash equivalents. Occupancy: Occupancy or a specified percentage of our portfolio that is "occupied" or "leased" means as of a specified date (i) the number of properties that are subject to a signed lease divided by (ii) the total number of properties in our portfolio. Secured Overnight Financing Rate (SOFR): We define SOFR as the current one-month term SOFR. GAAP: GAAP is the Generally Accepted Accounting Principles in the United States. Economic Yield: Economic Yield is defined as the sum of contractual fixed annual rents computed on a straight-line basis over the primary lease terms, divided by the purchase price.

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Forward-Looking andCautionary Statements IP Disclaimer This document contains references to copyrights, trademarks, trade names, and service marks that belong to other companies. FrontView REIT, Inc. is not affiliated or associated with, and is not endorsed by and does not endorse, such companies or their products or services. This presentation contains forward-looking statements, which reflect our current views regarding our business, financial performance, growth prospects and strategies, market opportunities, and market trends. Forward-looking statements include all statements that are not historical facts.In some cases, you can identify these forward-looking statements by the use of words such as "outlook, " "believes, " "expects, " "potential, " "continues, " "may, " "will, " "should, " "could, " "would be, " "seeks, " "approximately, " "projects, " "predicts, " "intends, " "plans, " "estimates, " "anticipates, " or the negative version of these words or other comparable words. All of the forward-looking statements herein are subject to various risks and uncertainties. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions, and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, our actual results, performance, and achievements could differ materially from those expressed in or by the forward-looking statements and may be affected by a variety of risks and other factors. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from such forward-looking statements. These factors include, but are not limited to, risks and uncertainties related to general economic conditions, including but not limited to increases in the rate of inflation and/or interest rates, local real estate conditions, tenant financial health, and property acquisitions and the timing of these investments and acquisitions. These and other risks, assumptions, and uncertainties are described in our filings with the SEC, which are available on the SEC's website at www.sec.gov. You are cautioned not to place undue reliance on any forward-looking statements included herein. All forward-looking statements are made as of the date of this document and the risk that actual results, performance, and achievements will differ materially from the expectations expressed or referenced herein will increase with the passage of time. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law. Forward Looking Statements This data and other information described herein are as of and for the three months ended March 31, 2026, unless otherwise indicated. Future performance may not be consistent with past performance and is subject to change, involving inherent risks and uncertainties. This information should be read in conjunction with FrontView's Annual Report on Form 10-K as of and for the year ended December 31, 2025 and Form 10-Q for the period ended March 31, 2026, including the financial statements and the management's discussion and analysis of financial condition and results of operations sections. About the Data