Spirit Realty Capital, Inc. Announces “At-The-Market” Offering

Spirit Realty Capital, Inc. (“Spirit Realty”) (NYSE:SRC), a real estate investment trust that invests in single-tenant, operationally essential real estate, announced today that it has filed with the Securities and Exchange Commission a prospectus supplement under which it may sell shares of its common stock having an aggregate gross sales price of up to $350 million through an “at-the-market” equity offering program.

The proceeds of the offering will be used for general corporate purposes, which may include repaying amounts outstanding from time to time under Spirit Realty’s revolving credit facility, working capital and capital expenditures, and potential future acquisitions.

The offering will occur pursuant to an equity distribution agreement entered into by Spirit Realty and Spirit Realty, L.P. with Morgan Stanley, BofA Merrill Lynch, Deutsche Bank Securities, RBC Capital Markets and SunTrust Robinson Humphrey, as sales agents.

Sales, if any, may be made in transactions that are deemed to be “at the market offerings,” including sales made by means of ordinary brokers’ transactions on the New York Stock Exchange or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or negotiated prices.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This offering is being made pursuant to a prospectus supplement to Spirit Realty’s prospectus, dated November 8, 2013, filed as part of Spirit Realty’s effective shelf registration statement relating to these securities. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any security nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Copies of the prospectus supplement and accompanying prospectus for this offering may be obtained by contacting Morgan Stanley, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department, BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attention: Prospectus Department, or by emailing dg.prospectus_requests@baml.com, Deutsche Bank Securities Inc., c/o Prospectus Group, 60 Wall Street, New York, NY 10005, or by emailing prospectus.CPDG@db.com or by telephone at 800-503-4611, RBC Capital Markets, LLC, Attention: Equity Syndicate, 3 World Financial Center, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, or by telephone at 877-822-4089 or SunTrust Robinson Humphrey, Inc., STRH Prospectus Department, 3333 Peachtree Rd., NE, Atlanta, GA 30326, or by e-mailing STRH.Prospectus@SunTrust.com or by telephone at 404-926-5744 .

Forward-Looking and Cautionary Statements

Statements contained in this press release that are not historical facts are forward-looking statements. These forward-looking statements can be identified by the use of words such as “expects,” “plans,” “estimates,” “projects,” “intends,” “believes,” “guidance,” and similar expressions that do not relate to historical matters. These forward-looking statements are subject to known and unknown risks and uncertainties that can cause actual results to differ materially from those currently anticipated, due to a number of factors which include, but are not limited to, our continued ability to source new investments, risks associated with using debt to fund Spirit Realty’s business activities (including refinancing and interest rate risks, changes in interest rates and/or credit spreads, changes in the real estate markets), risks related to the recent significant merger we completed, our ability to integrate the portfolios, disruption from the merger making it more difficult to maintain business and operational relationships, unknown liabilities acquired in connection with the acquired properties of the merger counterparty, portfolios of properties, or interests in real-estate related entities, and those discussed in Spirit Realty’s filings with the Securities and Exchange Commission from time to time. Spirit Realty expressly disclaims any responsibility to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.