PORTFOLIO INVESTOR RELATIONS CORPORATE RESPONSIBILITY ABOUT US CONTACT US OUR STORY OUR VISION Funding the heart of American business Meet our leadership team. MANAGEMENT OPERATING COMMITTEE VIEW MORE BOARD OF DIRECTORS VIEW MORE OUR BUSINESS AND GROWTH STRATEGIES At Spirit, we partner with businesses to provide them the capital they need to expand and evolve, creating economic growth that benefits communities across the country while utilizing our propriety underwriting tools and analytics to provide returns for our shareholders. We are a self-administered and self-managed REIT with in-house capabilities including acquisition, credit research, asset management, portfolio management, real estate research, legal, finance, and accounting functions. We primarily invest in single-tenant real estate assets throughout the United States, which are subsequently leased on a long-term, triple-net basis to high-quality tenants. Our objective is to maximize stockholder value by providing a growing stream of earnings and dividends generated by high-quality, diversified commercial real estate. We seek to accomplish this objective by utilizing our proprietary tools and underwriting expertise to invest in and manage a high-quality portfolio of single-tenant, operationally essential real estate throughout the United States, which generally consists of free-standing, commercial real estate facilities where our tenants conduct activities essential to the generation of their sales and profits. FORTRESS BALANCE SHEET Our long-term financing strategy is to maintain a leverage profile that creates operational flexibility and generates superior risk-adjusted returns for our stockholders. We finance our operations and investments using a variety of methods, including available unrestricted cash balances, property operating revenue, proceeds from property dispositions, available borrowings under our credit facilities, common and preferred stock issuances, and debt securities issuances, including mortgage indebtedness and senior unsecured debt. We determine the amount of equity and debt financing to be used when acquiring an asset by evaluating our cost of equity capital, terms available in the credit markets (such as interest rate, repayment provisions and maturity), and our assessment of the particular asset’s risk. STRONG OPERATING SYSTEMS Spirit utilizes integrated tools that streamline key processes for acquisitions, tenant monitoring and managing our capital structure, forecasts and records. We believe the effective use of our technology platforms to inform portfolio management decisions provides efficiency, depth and scalability to our processes, allowing us to seamlessly execute our objectives. OUTSTANDING PEOPLE We have implemented sound social, human capital management and environmental practices and policies throughout the operation of our business, demonstrating our solid commitment to be responsible and conscientious in everything that we do as we strive to both drive long-term stakeholder value and make the communities in which we operate a better place to live and work. We have documented these commitments in our Social Responsibility and Environmental Sustainability Policy and our Code of Business Conduct and Ethics, each of which can be accessed on the Investor Relations page of our website at www.spiritrealty.com. One of these key pillars is human capital management. We believe attracting, developing and retaining a team of highly talented and motivated employees is critical to reflecting our “all one team” motto and delivering strong financial results. DEFINED AND DISCIPLINED INVESTMENT STRATEGY We believe a multi-channel approach drives acquisition volume and are focused on building and growing partnerships with a diverse base of tenants and brokers. Over time, our target is a balanced mix of opportunities sourced from direct relationships with existing tenants, direct relationships with new tenants and broker relationships. Each acquisition opportunity is evaluated against our acquisition criteria, which includes, but is not limited to: accretive capitalization rate, long-term lease structure containing rent escalations, favorable tenant industries based on the Spirit Heat Map, favorable Spirit property ranking, attractive tenant credit characteristics and overall portfolio diversification impact. As part of our acquisition strategy, we target tenants that are publicly listed, as we believe those tenants possess certain attractive characteristics, including continual access to capital, generally lower leverage, audited financial statements and governance scrutiny. We believe extensive credit underwriting is important to minimizing tenant financial risk and protecting stockholder value. Our credit department, which is independent from our acquisitions department, underwrites all acquisition, disposition and capital investment opportunities and monitors the financial health of our existing portfolio. We use our underwriting capabilities to identify tenants with attractive credit characteristics and stable operating histories and to dispose of tenants with weakening characteristics. HIGH-QUALITY PORTFOLIO We believe that portfolio diversification and leases with structures aligned with our business and growth strategies are the cornerstones to managing the inherent risk associated with investing in real estate. The following portfolio qualities help maintain the stability of our rental revenue and maximize our long-term return on our investments: diverse and granular portfolio, leases for operationally essential real estate, leases with contractual rental growth, leases with relatively long terms, and leases with a master lease portfolio. ABOUT SPIRIT REALTY Spirit is a triple net-lease real estate investment trust (REIT) headquartered in Dallas, Texas. Over the past decade, Spirit has become an industry leader and owner of income-producing, operationally essential retail, industrial, and office properties. LEARN MORE PORTFOLIO Portfolio Overview Acquisitions INVESTOR RELATIONS Corporate Information Stock Info SEC Filings Presentations Earnings Results News & Events Investor Resources CORPORATE RESPONSIBILITY Overview Environmental Sustainability Social Responsibility Corporate Governance ABOUT US Our Story Our Values Team Bios Careers CONTACT US CONNECT WITH US 2727 North Harwood St., Suite 300 • Dallas, TX 75201 • (866) 557-7474 Copyright 2021 Spirit Realty Capital. All rights reserved. Site by Insite.