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## YEAR GLYPH<hyphen.lin> END FINANCIAL HIGHLIGHTS 

To consistently deliver best-in-class shareholder returns in all market environ- ments, STAG aims to provide a fully covered dividend, combined with significant accretive growth. 

In 2014, STAG generated cash net operating income of $142.4 million, compared to $115.1 million for the year ended 2013, constituting an increase of 24%. Additionally, STAG generated core funds from operations (“Core FFO”) of $84.2 million, compared to $67.9 million for the year ended 2013, constituting an increase of 24%. This represents $1.45 of Core FFO per diluted share for the year ended 2014, compared to $1.37 of Core FFO per share for the year ended 2013 — an increase of 6%. 

STAG also priced and modified 100% of its unsecured debt, resulting in an increase in maturity of 4.5 years and an improvement and conformity of all its unsecured debt covenants. 

Through a combination of “at the market” programs and a follow-on offering, STAG raised $317 million of common equity at an average price of $21.98 per share. 

STAG also increased its monthly per share common stock dividend twice, for a total increase of 10% in 2014. 

Please refer to our earnings release for the year ended December 31, 2014 (available at our website) for the definitions, historical amounts and reconciliations of non-GAAP measurements we use in this report. 

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