GENERATION INCOME PROPERTIES, INC.

Geographic Diversification Table

The following tables show a list of properties grouped by the state where each of our investments are located.

State · # of Properties · Square Feet · % of Total Square Feet · 2025 Annual Base Rent · % of Total Annual Base Rent

Illinois · 2 · 26,235 · 6% · 609,512 · 8%

Ohio · 3 · 27,078 · 6% · 246,280 · 3%

Iowa · 1 · 30,259 · 6% · 452,372 · 6%

Maine · 2 · 18,126 · 4% · 205,400 · 3%

Pennsylvania · 1 · 9,100 · 2% · 85,998 · 1%

DC · 1 · 3,000 · 1% · 120,000 · 2%

Florida · 3 · 10,250 · 2% · 518,804 · 7%

North Carolina · 2 · 26,640 · 6% · 418,832 · 5%

Virginia · 2 · 106,996 · 23% · 1,876,220 · 25%

Texas · 2 · 59,026 · 13% · 1,010,041 · 13%

Georgia · 1 · 10,906 · 2% · 109,060 · 1%

Tennessee · 1 · 10,640 · 2% · 119,727 · 2%

Arizona · 1 · 88,408 · 18% · 864,630 · 11%

California · 3 · 44,331 · 9% · 987,125 · 13%

25 · 470,995 · 100.0% · 7,624,001 · 100%

Tenants as of December 31, 2025

Tenant · # of Leases · Square Feet · % of Total Square Feet · 2025 Annual Base Rent · % of Total Annual Base Rent

7-Eleven Corporation · 1 · 3,000 · 1% · 120,000 · 2%

Best Buy Co., Inc. · 1 · 30,259 · 6% · 452,372 · 6%

Fresenius Medical Care Holdings, Inc. · 1 · 10,947 · 2% · 242,912 · 3%

General Services Administration of the USA · 3 · 68,459 · 15% · 998,474 · 13%

Kohl's Corporation · 1 · 88,408 · 18% · 864,630 · 11%

La-Z-Boy Inc. · 1 · 15,288 · 3% · 366,600 · 5%

PRA Group, Inc. · 1 · 34,847 · 7% · 823,909 · 11%

Sherwin Williams Company · 1 · 3,500 · 1% · 126,788 · 2%

Starbucks Corporation · 1 · 2,642 · 1% · 148,216 · 2%

San Antonio Early Childhood Education Municipal Development Corporation · 1 · 50,000 · 11% · 924,000 · 12%

Dolgen California, LLC · 1 · 18,827 · 4% · 361,075 · 5%

Dolgencorp of Texas, Inc · 1 · 9,026 · 2% · 86,041 · 1%

Dolgen Midwest, LLC · 4 · 36,178 · 8% · 358,719 · 5%

Dolgencorp, LLC. · 1 · 9,100 · 2% · 85,998 · 1%

Dollar Tree Stores, Inc. · 1 · 10,906 · 2% · 109,060 · 1%

DG Retail, LLC · 1 · 9,026 · 2% · 92,960 · 1%

Walgreens Co. · 1 · 14,490 · 3% · 369,000 · 5%

Armed Services YMCA of the U.S.A. · 1 · 22,247 · 5% · 411,570 · 5%

Zaxby's · 1 · 4,108 · 1% · 243,800 · 3%

Dollar General · 1 · 10,640 · 2% · 119,727 · 2%

Tractor Supply · 1 · 19,097 · 4% · 318,150 · 4%

Grand Total · 26 · 470,995 · 100% · 7,624,001 · 100%

Physical Occupancy Table for Last 2 Years

Properties were 100% and 99% occupied as of December 31, 2025 and 2024, respectively.

SF Occupied as of December 31, · SF Occupied as of December 31,

Property Type · Location · Rentable Square Feet · Tenant · 2025 · 2024

Retail · Washington, DC · 3,000 · 7-Eleven Corporation · 3,000 · 3,000

Office · Norfolk, VA · 49,902 · General Services Administration-Navy (1) · 49,902 · 49,902

Office · Norfolk, VA · 22,247 · Armed Services YMCA of the U.S.A.(1) · 22,247 · 22,247

Office · Norfolk, VA · 34,847 · PRA Holdings, Inc. · 34,847 · 34,847

Retail · Tampa, FL · 3,500 · Sherwin Williams Company · 3,500 · 3,500

Office · Manteo, NC · 7,543 · General Services Administration-FBI · 7,543 · 7,543

Medical-Retail · Chicago, IL · 10,947 · Fresenius Medical Care Holdings, Inc. · 10,947 · 10,947

Retail · Tampa, FL · 2,642 · Starbucks Corporation · 2,642 · 2,642

Retail · Tucson, AZ · 88,408 · Kohl's Corporation · 88,408 · 88,408

Retail · San Antonio, TX · 50,000 · City of San Antonio (PreK) · 50,000 · 50,000

Retail · Bakersfield, CA · 18,827 · Dollar General Market · 18,827 · 18,827

Retail · Big Spring, TX · 9,026 · Dollar General · 9,026 · 9,026

Retail · Castalia, OH · 9,026 · Dollar General · 9,026 · 9,026

Retail · East Wilton, ME · 9,100 · Dollar General · 9,100 · 9,100

Retail · Lakeside, OH · 9,026 · Dollar General · 9,026 · 9,026

Retail · Litchfield, ME · 9,026 · Dollar General · 9,026 · 9,026

Retail · Mount Gilead, OH · 9,026 · Dollar General · 9,026 · 9,026

Retail · Thompsontown, PA · 9,100 · Dollar General · 9,100 · 9,100

Retail · Morrow, GA · 10,906 · Dollar Tree Stores, Inc. · 10,906 · 10,906

Office · Vacaville, CA · 11,014 · General Services Administration · 11,014 · 11,014

Retail · Santa Maria, CA · 14,490 · Walgreens · 14,490 · 14,490

Retail · Rockford, IL · 15,288 · La-Z-Boy Inc. · 15,288 · 15,288

Retail · Ames, IA · 30,259 · Best Buy Co., Inc. · 30,259 · 30,259

Retail · Sanford, FL · 4,108 · Zaxby's · 4,108 · 0

Retail · Cleveland, TN · 10,640 · Dollar General · 10,640 · 0

Retail · Kernersville, NC · 19,097 · Tractor Supply · 19,097 · 0

Tenants - All Properties · 470,995 · 470,995 · 437,150

Two tenants occupy this single property.

• GIPTX 1235 Old Highway 90 West, LLC Delaware³
• GIPTX 6919 North Service Road, LLC Delaware³
• GIPVA 130 CORPORATE BLVD, LLC Delaware³
• GIPVA 2510 WALMER AVE, LLC Delaware³
• GIPVB SPE, LLC Delaware³
• Generation Income Properties, LP Delaware³

• The market for real estate investments is highly competitive.
• We are required to make a number of judgments in applying accounting policies, and different estimates and assumptions in the application of these policies could result in changes to our reporting of financial condition and results of operations.
• Because of our holding company structure, we depend on our Operating Partnership subsidiary and its subsidiaries for cash flow and we will be structurally subordinated in right of payment to the obligations of such Operating Partnership subsidiary and its subsidiaries.
• We may incur losses as a result of ineffective risk management processes and strategies.
• You will not have the opportunity to evaluate our investments before we make them.
• The loss of any of our executive officers could adversely affect our ability to continue operations.
• Our President, Chief Executive Officer, and Chairman of the Board has guaranteed certain of our indebtedness, which could constitute a conflict of interest.
• We rely on information technology networks and systems in conducting our business, and any material failure, inadequacy, interruption or security failure of that technology could harm our business.
• We have paid distributions from offering proceeds to the extent our cash flow from operations or earnings are not sufficient to fund declared distributions. If we resume making dividends, rates of distribution to you will not necessarily be indicative of our operating results. If we make distributions from sources other than our cash flows from operations or earnings, we will have fewer funds available for the acquisition of properties and your overall return may be reduced.
• Our structure may result in potential conflicts of interest with limited partners in our Operating Partnership whose interests may not be aligned with those of our stockholders.
• Pandemics or other health crises, such as the COVID-19 pandemic, may adversely affect our tenants' financial condition, the profitability of our properties, and our access to the capital markets and could have a material adverse effect on our business, results of operations, cash flows and financial condition.
• Government budgetary pressures and priorities, and trends in government employment and office leasing may adversely impact our business.
• General Risks Related to Investments in Real Estate
• The third-party valuations of real estate investments we seek to purchase often times includes the value of a commercial lease and the loss of such a lease could result in the value of the real property declining.
• Our operating results will be affected by economic and regulatory changes that have an adverse impact on the real estate market in general, and we cannot assure you that we will be profitable or that we will realize growth in the value of our real estate properties.
• If a major tenant declares bankruptcy, we may be unable to collect balances due under its leases, which would have a harmful effect on our financial condition and ability to pay distributions to you.
• A high concentration of our properties in a particular geographic area, or with tenants in a similar industry, magnify the effects of downturns in that geographic area or industry.
• We own twenty-five of our properties through preferred equity partnerships, which may lead to disagreements with our partners and adversely affect our interest in the partnerships.
• If a sale-leaseback transaction is re-characterized in a tenant’s bankruptcy proceeding, our financial condition could be adversely affected.
• We may obtain only limited warranties when we purchase a property and would have only limited recourse in the event our due diligence did not identify any issues that lower the value of our property.
• Our real estate investments may include special use single-tenant properties that may be difficult to sell or re-lease upon lease terminations.
• We may be unable to secure funds for future tenant improvements, build outs or capital needs, which could adversely impact our ability to pay cash distributions to our stockholders.
• Our inability to sell a property when we desire to do so could adversely impact our liquidity and adversely affect our ability to resume the payment of cash distributions to you.
• We may not be able to sell our properties at a price equal to, or greater than, the price for which we purchased such property, which may lead to a decrease in the value of our assets.
• We may acquire or finance properties with lock-out provisions, which may prohibit us from selling a property, or may require us to maintain specified debt levels for a period of years on some properties.
• Rising expenses could reduce cash flow and funds available for future acquisitions.
• Adverse economic conditions may negatively affect our returns and profitability.
• Increased vacancy rates could have an adverse impact on our ability to make distributions and the value of an investment in our shares.
• Global market and economic conditions, including as a result of health crises may materially and adversely affect us and our tenants.
• We may be adversely affected by unfavorable economic changes in the specific geographic areas where our investments are concentrated.
• We may recognize substantial impairment charges on our properties.
• If we suffer losses that are not covered by insurance or that are in excess of insurance coverage, we could lose invested capital and anticipated profits.
• Real estate related taxes may increase and if these increases are not passed on to tenants, our income will be reduced.
• We could be exposed to environmental liabilities with respect to investments to which we take title.
• Properties may contain mold or asbestos or other hazardous conditions.
• CC&Rs may restrict our ability to operate a property.
• Our operating results may be negatively affected by potential development and construction delays and resultant increased costs and risks.
• Competition with third parties in acquiring properties and other investments may reduce our profitability and the return on your investment.
• Our properties may face competition that could reduce the amount of rent paid to us, which would reduce the cash available for future distributions and the amount of distributions.
• Costs of complying with governmental laws and regulations, including those relating to environmental matters, may adversely affect our income and the cash available for any future distributions.
• Inflation and changes in interest rates may materially and adversely affect us and our tenants.
• Our costs associated with complying with the Americans with Disabilities Act may affect cash available for future distributions.
• We may not be able to re-lease or renew leases at our properties on terms favorable to us or at all.
• Lease defaults, terminations or landlord-tenant disputes may adversely reduce our income from our property portfolio.
• Net leases may not result in fair market lease rates over time, which could negatively impact our income and reduce the amount of funds available to make future distributions to our stockholders.
• Your investment return may be reduced if we are required to register as an investment company under the U.S. Investment Company Act of 1940 (and similar legislation in other jurisdictions).
• Risks Associated with Debt Financing
• We have used and may continue to use mortgage and other debt financing to acquire properties or interests in properties and otherwise incur other indebtedness, which increases our expenses and could subject us to the risk of losing properties in foreclosure if our cash flow is insufficient to make loan payments.
• We utilize, and intend to continue to utilize, leverage, which may limit our financial flexibility in the future.
• High levels of debt or increases in interest rates could increase the amount of our loan payments, which could reduce the cash available for distribution to stockholders.
• High mortgage rates may make it difficult for us to finance or refinance properties, which could reduce the number of properties we can acquire, our cash flow from operations and the amount of cash distributions we can make.
• Lenders may require us to enter into restrictive covenants relating to our operations, which could limit our ability to make distributions to you.
• Some of our mortgage loans may have “due on sale” provisions, which may impact the manner in which we acquire, sell and/or finance our properties.
• Lenders may be able to recover against our other properties under our mortgage loans.
• If we are required to make payments under any “bad boy” carve-out guaranties that we may provide in connection with certain mortgages and related loans, our business and financial results could be materially adversely affected.
• Interest-only indebtedness may increase our risk of default and ultimately may reduce our funds available for distribution to our stockholders.
• We may enter into derivative or hedging contracts that could expose us to contingent liabilities and certain risks and costs in the future.
• Complying with REIT requirements may limit our ability to hedge risk effectively.
• Interest rates may continue to increase.
• We may use floating rate, interest-only or short-term loans to acquire assets.
• We may use leverage to make investments.
• Leveraging an asset allows a lender to foreclose on that asset.
• Availability of financing and market conditions will affect the success of the Company.
• We continue to have significant debt obligations and our independent registered public accounting firm’s report contains an explanatory paragraph that expresses substantial doubt about our ability to continue as a “going concern”.
• Federal Income Tax Risks
• The Company's failure to qualify as a REIT would adversely affect our operations and our ability to make distributions.
• We may have difficulty satisfying the requirement that we not be closely held.
• Re-characterization of sale-leaseback transactions may cause us to lose our REIT status.