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W. P. Carey Inc.Investor Presentation1Q21Investing for the long run

Investing for the long run Table of Contents1. Overview2. Real Estate Portfolio3. Balance Sheet4. Investment Management5. COVID-19 UpdateUnless otherwise noted, all data in this presentation is as of March 31, 2021. Amounts may not sum to totals due to rounding.

1. Overview

Company HighlightsW. P. Carey (NYSE: WPC) is a REIT that specializes in investing in net lease commercial real estate,primarily in the U.S. and Northern and Western EuropeOne of the largest owners of net lease assetsand among the top 25 REITs in the MSCI US REIT IndexHighly diversified portfolio by geography, tenant, property typeand tenant industrySuccessful track record of investing and operating throughmultiple economic cycles since 1973 led by an experiencedmanagement teamOrgill Warehouse Inwood, WVU.S. and Europe-based asset management teamsInvestment grade balance sheet with access to multipleforms of capitalExecuted on our strategy to become a pure-play net lease REIT,advanced through our 2018 merger with CPA:17 and 2020internalization of the CWI REITs, with earnings currently generatedalmost entirely from higher-quality real estate revenuesInvesting for the Long Run 4Turkey Hill Industrial Conestoga, PA

Business Model and Structure (1)W. P. Carey is the largest diversified net lease REITPublic REIT (NYSE: WPC) 19 billion of Enterprise Value (2)Real Estate Portfolio (3)1,261 net lease properties / 146 million sq. ft. / 10.6 year WALT / 1.2 billionof ABR Primarily industrial, warehouse, office, retail and self-storage(net lease)Advisor to 2.9 billion of AUMCorporate Property Associates 18 –Global (CPA:18) – Diversified / Net lease 351 tenants; top 10 tenants represent 21.5% of ABR Properties located primarily in U.S. and Europe 98.3% occupancy 99% of leases have contractual rent increases, including 61%linked to CPI(1)(2)(3)Carey European Student Housing Fund(CESH) Student HousingData as of or for the quarter ended March 31, 2021 unless otherwise noted.Enterprise value represents equity market capitalization based on a stock price of 70.76 as of March 31, 2021, plus pro rata debt outstanding, less consolidated cash and cash equivalents.Portfolio information reflects pro rata ownership of real estate assets, excluding operating properties. “WALT” represents we ighted average lease term and “ABR” represents pro rata contractualminimum annualized base rent (see definitions in Disclosures).Investing for the Long Run 5

Investment Strategy Generate attractive risk-adjusted returns byidentifying and investing in net-lease commercialreal estate, primarily in the U.S. and Northern &Western Europe Protect downside by combining credit and realestate underwriting with sophisticated structuringand direct originationTransactions Evaluated on Four Key Factors Industry drivers and trendsCreditworthinessof Tenant Company history Financial wherewithal Key distribution facility or profitablemanufacturing plant Acquire “mission-critical” assets essential to atenant’s operations Create upside through lease escalations, creditimprovements and real estate appreciation Competitor analysisCriticality of Asset Critical R&D or data-center Top performing retail stores Corporate headquarters Capitalize on existing tenant relationshipsthrough accretive expansions, renovations andfollow-on deals Hallmarks of our approach:– Diversification by tenant, industry, property typeand geography Local market analysisFundamental Valueof the UnderlyingReal Estate– Disciplined– Opportunistic– Proactive asset management– Conservative capital structureInvesting for the Long Run 6TransactionStructureand Pricing Property condition 3rd party valuation /replacement cost Downside analysis / costto re-lease Lease terms – rent growth andmaturity Financial covenants Security deposits / lettersof credit

Proactive Asset ManagementDomestic and international asset management capabilities to address lease expirations, changingtenant credit profiles and asset repositioning or dispositions Asset management offices in New York and Amsterdam W. P. Carey has proven experience repositioning assets through re-leasing, restructuring and strategic disposition Generates value creation opportunities within our existing portfolio Five-point internal rating scale used to assess and monitor tenant credit and the quality, location and criticality of each assetAsset Management ExpertiseTransactionOperational Leasing Lease compliance Dispositions InsuranceAsset Management Risk AnalysisTenantBankruptcyWatch ListObsoleteResidual RiskStableImplied IGCreditInvestmentGradeAsset Lease modifications Property inspections Credit and real estaterisk analysis Non-triple net leaseadministration Building expansionsand redevelopment Real estatetax Tenant distress andrestructuring Projections andportfolio valuationInvesting for the Long Run 7QualityAssetLocationAssetCriticalityNo TenantDemandNot CriticalLimited TenantDemand antDemandPossibleRenewalClass BGoodLocation /ActiveMarketCriticalRenewalLikelyClass APrime Location/ High TenantDemandHighlyCritical

2. Real Estate Portfolio

Large Diversified Portfolio (1)Number of PropertiesNumber of Tenants1,261351Square Footage146 millionABR 1.2 billionUS / Europe / Other (% of ABR)62% / 36% / 2%Contractual Rent Escalation: CPI-linked / Fixed / Other61% / 35% / 4%WALT10.6 yearsOccupancy98.3%Investment Grade Tenants (% of ABR)29.7%Top 10 Tenant Concentration (% of ABR)21.5%(1)Portfolio information reflects pro rata ownership of real estate assets (excluding operating properties) as of March 31, 2021 .Investing for the Long Run 9

Property and Industry Diversification(1)By Property Type (% of ABR)47%Industrial / Warehouse8%5%By Tenant Industry (% of fice22%Self-storage (Net tail7%4%18%5%8%5%5%Retail Stores (2)Consumer ServicesAutomotiveGroceryCargo TransportationBeverage and FoodHealthcare and PharmaceuticalsBusiness ServicesConstruction and BuildingCapital EquipmentSovereign and Public FinanceHotel and LeisureContainers, Packaging, and GlassDurable Consumer GoodsHigh Tech IndustriesOther (4)22%8%7%6%5%5%5%5%4%4%4%3%3%3%3%13%Portfolio information reflects pro rata ownership of real estate assets (excluding operating properties) as of March 31, 2021 .Includes automotive dealerships.Includes education facilities, hotel (net lease), laboratory, fitness facility, theater, student housing (net lease), restaurant and land.Includes tenants in the following industries: insurance, banking, telecommunications, aerospace and defense, chemicals, plastics and rubber, media: advertising, printing and publishing, media:broadcasting and subscription, wholesale, non-durable consumer goods, oil and gas, metals and mining, environmental industries, electricity, consumer transportation, forest products andpaper, real estate and finance.Investing for the Long Run 10

Top Ten Tenants (1)One of the lowest Top 10 concentrations among net lease peer groupTenantNumber ofPropertiesABR( millions)WALT(years)% ofTotal78 393.13.3%423515.92.9%Government office properties in Spain703113.72.6%Business-to-business wholesale stores in Italy & Germany20286.02.4%Automotive dealerships in the United Kingdom69249.22.0%Net lease self-storage properties in the U.S.272123.11.7%Distribution facilities in the U.S.302011.81.7%Net lease hotel properties in the U.S.18202.61.7%K-12 private schools in the U.S.31922.51.6%Industrial properties in the U.S. and Canada271922.21.6%384 25512.1 yrs21.5%DescriptionNet lease self-storage properties in the U.S.Do-it-yourself retail properties in Germany(2)State of AndaluciaTop 10(1)(2)Portfolio information reflects pro rata ownership of real estate assets (excluding operating properties) as of March 31, 2021 .In April 2021, we sold seven properties leased to this tenant with total ABR of 5.6 million as of March 31, 2021.Investing for the Long Run 11

Geographic Diversification (1)W. P. Carey has been investing internationally for 22 years, primarily in Northern and Western EuropeOther (2), 2%, 24MMEurope, 36%, 422 MMUnited States,62%, 739 MM(1)(2)Portfolio information reflects pro rata ownership of real estate assets (excluding operating properties) as of March 31, 2021 .Includes Canada (1.1%), Mexico (0.7%) and Japan (0.2%).Investing for the Long Run 12

Internal Growth from Contractual Rent Increases(1)Over 99% of leases have contractual rent increases, including 61% linked to CPINone, 0.5%(2)Other, 4%UncappedCPI, 38%Fixed, 35%61% CPI-linkedCPI-based,23%(1)(2)Portfolio information reflects pro rata ownership of real estate assets (excluding operating properties) as of March 31, 2021 .Represents leases with percentage rent (i.e., participation in the gross revenues of the tenant above a stated level) and other increases.Investing for the Long Run 13

Same-Store ABR GrowthContractual same store growth of 1.6%Contractual Same Store Q21Contractual same store portfolio includes leases that were continuously in place during the period from March 31, 2020 to March 31, 2021. Excludes leases for properties that were acquired, soldor vacated, or were subject to lease renewals, extensions or modifications at any time that affected ABR during that period. For purposes of comparability, ABR is presented on a constant currencybasis using exchange rates as of March 31, 2021.Investing for the Long Run 14

Lease Expirations and Average Lease Term (1)Weighted average lease term of 10.6 yearsLease Expirations (% ABR) 1(1)(2)202220232024Portfolio information reflects pro rata ownership of real estate assets (excluding operating properties) as of March 31, 2021 .Assumes tenants do not exercise any renewal or purchase options.Investing for the Long Run 15Thereafter

Historical Occupancy(1)Stable occupancy maintained during the aftermath of the global financial crisis and the COVID-19 pandemicOccupancy (% Square Feet) es W. P. Carey and the following CPA REITs: Corporate Property Associates 12 Incorporated, Corporate Property Associate s 14 Incorporated, Corporate Property Associates 15 Incorporated,Corporate Property Associates 16 – Global Incorporated, Corporate Property Associates 17 – Global Incorporated (CPA:17) and CPA:18, as applicable. Portfolio information excludes operatingproperties.Represents occupancy for each completed year at December 31, otherwise occupancy shown is for the most recent quarter.Investing for the Long Run 16

Recent Acquisitions – Case StudiesCompleted investments totaling 3.0 billion since the beginning of 2018 Comprised of acquisitions totaling 2.5 billion and 550 million of completed capital investmentsRecent AcquisitionsPrima WawonaFebruary 2021Nexeo PlasticsFebruary 2021Casino Guichard-Perrachon S.A.April 2021Purchase Price: 75 millionPurchase Price: 19 millionPurchase Price: 119 millionFacility Type: Warehouse / LandFacility Type: WarehouseFacility Type: RetailLocation: Central Valley, CALocation: Ohio / South CarolinaLocation: Southern and Central FranceSize: 1,031,600 square feetSize: 269,286 square feetSize: 424,797 square feetLease Term: 25-year leaseLease Term: 20-year leaseLease Term: 20-year leaseRent Escalation: FixedRent Escalation: FixedRent Escalation: French CPIInvesting for the Long Run 17