VICI · Vici Properties Inc. · Debt

WHEREAS, the Issuer intends by this Fifth Supplemental Indenture to (A) create (i) a series of the Securities, in an initial aggregate principal amount equal to $900,000,000, entitled 5.400% Senior Notes due 2031 (the “**2031 Notes**”) and (ii) a series of the Securities, in an initial aggregate principal amount equal to $850,000,000, entitled 5.750% Senior Notes due 2036 (the “**2036 Notes**” and, together with the 2031 Notes, the “**Notes**”) and (B) establish the form and the terms and provisions of the Notes.

Issuer evidence: FIFTH SUPPLEMENTAL INDENTURE, dated as of August 14, 2026 (this “**Fifth Supplemental Indenture**”), between VICI PROPERTIES L.P., a Delaware limited partnership (the “**Issuer**”), having its principal executive office located at 535 Madison Avenue, New York, New York 10022, and UMB BANK, NATIONAL ASSOCIATION, as trustee, registrar, paying agent and transfer agent (the “**Trustee**,” “**Registrar**,” “**Paying Agent**” and **“Transfer Agent**,” respectively), which supplements that certain Indenture, dated as of April 29, 2022, by and between the Issuer and the Trustee (the “**Base Indenture**”).

Supporting evidence: WHEREAS, the Issuer intends by this Fifth Supplemental Indenture to (A) create (i) a series of the Securities, in an initial aggregate principal amount equal to $900,000,000, entitled 5.400% Senior Notes due 2031 (the “**2031 Notes**”) and (ii) a series of the Securities, in an initial aggregate principal amount equal to $850,000,000, entitled 5.750% Senior Notes due 2036 (the “**2036 Notes**” and, together with the 2031 Notes, the “**Notes**”) and (B) establish the form and the terms and provisions of the Notes.

Supporting evidence: WHEREAS, the Issuer intends by this Fifth Supplemental Indenture to (A) create (i) a series of the Securities, in an initial aggregate principal amount equal to $900,000,000, entitled 5.400% Senior Notes due 2031 (the “**2031 Notes**”) and (ii) a series of the Securities, in an initial aggregate principal amount equal to $850,000,000, entitled 5.750% Senior Notes due 2036 (the “**2036 Notes**” and, together with the 2031 Notes, the “**Notes**”) and (B) establish the form and the terms and provisions of the Notes.

On August 5, 2026, VICI Properties Inc., a Maryland corporation (the “Company”), and VICI Properties L.P., a Delaware limited partnership (“VICI LP”), entered into an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, Barclays Capital Inc., Mizuho Securities USA LLC and Truist Securities, Inc., as representatives of the several underwriters listed on Schedule I thereto (collectively, the “Underwriters”), pursuant to which VICI LP agreed to issue and sell $900 million aggregate principal amount of 5.400% Senior Notes due 2031 (the “2031 Notes”) and $850 million aggregate principal amount of 5.750% Senior Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Notes”).

Issuer evidence: On August 5, 2026, VICI Properties Inc., a Maryland corporation (the “Company”), and VICI Properties L.P., a Delaware limited partnership (“VICI LP”), entered into an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, Barclays Capital Inc., Mizuho Securities USA LLC and Truist Securities, Inc., as representatives of the several underwriters listed on Schedule I thereto (collectively, the “Underwriters”), pursuant to which VICI LP agreed to issue and sell $900 million aggregate principal amount of 5.400% Senior Notes due 2031 (the “2031 Notes”) and $850 million aggregate principal amount of 5.750% Senior Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Notes”).

Supporting evidence: On August 5, 2026, VICI Properties Inc., a Maryland corporation (the “Company”), and VICI Properties L.P., a Delaware limited partnership (“VICI LP”), entered into an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, Barclays Capital Inc., Mizuho Securities USA LLC and Truist Securities, Inc., as representatives of the several underwriters listed on Schedule I thereto (collectively, the “Underwriters”), pursuant to which VICI LP agreed to issue and sell $900 million aggregate principal amount of 5.400% Senior Notes due 2031 (the “2031 Notes”) and $850 million aggregate principal amount of 5.750% Senior Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Notes”).

Supporting evidence: On August 5, 2026, VICI Properties Inc., a Maryland corporation (the “Company”), and VICI Properties L.P., a Delaware limited partnership (“VICI LP”), entered into an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, Barclays Capital Inc., Mizuho Securities USA LLC and Truist Securities, Inc., as representatives of the several underwriters listed on Schedule I thereto (collectively, the “Underwriters”), pursuant to which VICI LP agreed to issue and sell $900 million aggregate principal amount of 5.400% Senior Notes due 2031 (the “2031 Notes”) and $850 million aggregate principal amount of 5.750% Senior Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Notes”).

On August 5, 2026, VICI Properties Inc., a Maryland corporation (the “Company”), and VICI Properties L.P., a Delaware limited partnership (“VICI LP”), entered into an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, Barclays Capital Inc., Mizuho Securities USA LLC and Truist Securities, Inc., as representatives of the several underwriters listed on Schedule I thereto (collectively, the “Underwriters”), pursuant to which VICI LP agreed to issue and sell $900 million aggregate principal amount of 5.400% Senior Notes due 2031 (the “2031 Notes”) and $850 million aggregate principal amount of 5.750% Senior Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Notes”).

Issuer evidence: On August 5, 2026, VICI Properties Inc., a Maryland corporation (the “Company”), and VICI Properties L.P., a Delaware limited partnership (“VICI LP”), entered into an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, Barclays Capital Inc., Mizuho Securities USA LLC and Truist Securities, Inc., as representatives of the several underwriters listed on Schedule I thereto (collectively, the “Underwriters”), pursuant to which VICI LP agreed to issue and sell $900 million aggregate principal amount of 5.400% Senior Notes due 2031 (the “2031 Notes”) and $850 million aggregate principal amount of 5.750% Senior Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Notes”).

Supporting evidence: On August 5, 2026, VICI Properties Inc., a Maryland corporation (the “Company”), and VICI Properties L.P., a Delaware limited partnership (“VICI LP”), entered into an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, Barclays Capital Inc., Mizuho Securities USA LLC and Truist Securities, Inc., as representatives of the several underwriters listed on Schedule I thereto (collectively, the “Underwriters”), pursuant to which VICI LP agreed to issue and sell $900 million aggregate principal amount of 5.400% Senior Notes due 2031 (the “2031 Notes”) and $850 million aggregate principal amount of 5.750% Senior Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Notes”).

Supporting evidence: On August 5, 2026, VICI Properties Inc., a Maryland corporation (the “Company”), and VICI Properties L.P., a Delaware limited partnership (“VICI LP”), entered into an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, Barclays Capital Inc., Mizuho Securities USA LLC and Truist Securities, Inc., as representatives of the several underwriters listed on Schedule I thereto (collectively, the “Underwriters”), pursuant to which VICI LP agreed to issue and sell $900 million aggregate principal amount of 5.400% Senior Notes due 2031 (the “2031 Notes”) and $850 million aggregate principal amount of 5.750% Senior Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Notes”).

WHEREAS, the Issuer intends by this Fifth Supplemental Indenture to (A) create (i) a series of the Securities, in an initial aggregate principal amount equal to $900,000,000, entitled 5.400% Senior Notes due 2031 (the “**2031 Notes**”) and (ii) a series of the Securities, in an initial aggregate principal amount equal to $850,000,000, entitled 5.750% Senior Notes due 2036 (the “**2036 Notes**” and, together with the 2031 Notes, the “**Notes**”) and (B) establish the form and the terms and provisions of the Notes.

Issuer evidence: FIFTH SUPPLEMENTAL INDENTURE, dated as of August 14, 2026 (this “**Fifth Supplemental Indenture**”), between VICI PROPERTIES L.P., a Delaware limited partnership (the “**Issuer**”), having its principal executive office located at 535 Madison Avenue, New York, New York 10022, and UMB BANK, NATIONAL ASSOCIATION, as trustee, registrar, paying agent and transfer agent (the “**Trustee**,” “**Registrar**,” “**Paying Agent**” and **“Transfer Agent**,” respectively), which supplements that certain Indenture, dated as of April 29, 2022, by and between the Issuer and the Trustee (the “**Base Indenture**”).

Supporting evidence: WHEREAS, the Issuer intends by this Fifth Supplemental Indenture to (A) create (i) a series of the Securities, in an initial aggregate principal amount equal to $900,000,000, entitled 5.400% Senior Notes due 2031 (the “**2031 Notes**”) and (ii) a series of the Securities, in an initial aggregate principal amount equal to $850,000,000, entitled 5.750% Senior Notes due 2036 (the “**2036 Notes**” and, together with the 2031 Notes, the “**Notes**”) and (B) establish the form and the terms and provisions of the Notes.

Supporting evidence: WHEREAS, the Issuer intends by this Fifth Supplemental Indenture to (A) create (i) a series of the Securities, in an initial aggregate principal amount equal to $900,000,000, entitled 5.400% Senior Notes due 2031 (the “**2031 Notes**”) and (ii) a series of the Securities, in an initial aggregate principal amount equal to $850,000,000, entitled 5.750% Senior Notes due 2036 (the “**2036 Notes**” and, together with the 2031 Notes, the “**Notes**”) and (B) establish the form and the terms and provisions of the Notes.