AGREE REALTY ANNOUNCES

EXPANDED $1.25 BILLION CREDIT FACILITY

Reduces Borrowing Cost by Five Basis Points and Extends Maturity to 2029

Royal Oak, MI

August 8, 2024

Agree Realty Corporation (NYSE: ADC) (the “Company”) today announced it has entered into a Fourth Amended and Restated Revolving Credit Agreement which increases its senior unsecured revolving credit facility (the “Credit Facility”) to $1.25 billion. The Credit Facility includes an accordion option that allows the Company to request additional lender commitments up to a total of $2.0 billion.

CFO Comments:

"This expanded Credit Facility bolsters our fortress balance sheet and provides us with significant capacity as we continue to expand our pipeline,” said Peter Coughenour, Chief Financial Officer. “We greatly appreciate the strong support of our bank group. We now enjoy approximately $1.7 billion of total liquidity which excludes the Credit Facility’s $750 million accordion option.”

About Agree Realty Corporation

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of June 30, 2024, the Company owned and operated a portfolio of 2,202 properties, located in 49 states and containing approximately 45.8 million square feet of gross leasable area. The Company’s common stock is listed on the New York Stock Exchange under the symbol “ADC”. For additional information on the Company and RETHINKING RETAIL, please visit www.agreerealty.com.