W. P. Carey Announces Record and Distribution Dates for Spin-Off of Net Lease Office Properties

W. P. Carey common stock is expected to trade "regular way" on the NYSE under the symbol "WPC" from October 18, 2023 through November 1, 2023. Any holders who sell W. P. Carey common stock "regular way" on or before November 1, 2023 will also be selling their right to receive NLOP common shares.

On October 27, 2023, an "ex-distribution" market for W. P. Carey common stock is expected to begin on the NYSE under the symbol "WPC WI" and continue through November 1, 2023. Holders of W. P. Carey common stock who sell in the "ex-distribution" market under the symbol "WPC WI" on or before November 1, 2023 will only be selling shares of W. P. Carey common stock and will be retaining the right to receive NLOP common shares in the distribution.

W. P. Carey stockholders who hold common stock on the record date and decide to sell any of their W. P. Carey common stock before the distribution date should consult with their stockbroker, bank or other nominee to understand whether the shares of W. P. Carey common stock will be sold with or without the entitlement to NLOP common shares pursuant to the Spin-Off.

W. P. Carey Inc.

Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,416 net lease properties covering approximately 171 million square feet and a portfolio of 85 self-storage operating properties, pro forma for the Spin-Off of NLOP, as of June 30, 2023. With offices in New York, London, Amsterdam and Dallas, the company remains focused on investing primarily in single-tenant, industrial, warehouse and retail properties located in the U.S. and Northern and Western Europe, under long-term net leases with built-in rent escalations.

www.wpcarey.com

Cautionary Statement Concerning Forward-Looking Statements

Certain of the matters discussed in this communication constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. The forward-looking statements include, among other things, statements regarding the intent, belief or expectations of W. P. Carey and can be identified by the use of words such as "may," "will," "should," "would," "will be," "goals," "believe," "project," "expect," "anticipate," "intend," "estimate" "opportunities," "possibility," "strategy," "maintain" or the negative version of these words and other comparable terms. These forward-looking statements include, but are not limited to, statements regarding the contemplated spin-off with NLOP, including the expected timing and outcome of the spin-off. These statements are based on the current expectations of our management, and it is important to note that our actual results could be materially different from those projected in such forward-looking statements. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Other unknown or unpredictable risks or uncertainties, like the risks related to inflation and increased interest rates, the effects of pandemics and global outbreaks of contagious diseases (such as the COVID-19 pandemic) and domestic or geopolitical crises, such as terrorism, military conflict (including the ongoing conflict between Russia and Ukraine and the global response to it), war or the perception that hostilities may be imminent, political instability or civil unrest, or other conflict, and those additional risk factors discussed in reports that we have filed with the SEC, could also have material adverse effects on our future results, performance or achievements. Discussions of some of these other important factors and assumptions are contained in W. P. Carey's filings with the SEC and are available at the SEC's website at http://www.sec.gov, including Part I, Item 1A. Risk Factors in W. P. Carey's Annual Report on Form 10-K for the fiscal year ended December 31, 2022. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this communication, unless noted otherwise. Except as required under the federal securities laws and the rules and regulations of the SEC, W. P. Carey does not undertake any obligation to release publicly any revisions to the forward-looking statements to reflect events or circumstances after the date of this communication or to reflect the occurrence of unanticipated events.

Institutional Investors:
Peter Sands
1 (212) 492-1110
institutionalir@wpcarey.com

Individual Investors:
W. P. Carey Inc.
1 (212) 492-8920
ir@wpcarey.com

Press Contact:
Anna McGrath
1 (212) 492-1166
amcgrath@wpcarey.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/w-p-carey-announces-record-and-distribution-dates-for-spin-off-of-net-lease-office-properties-301949932.html

SOURCE W. P. Carey Inc.