NNN REIT, INC. PRICES OFFERING OF $500 MILLION OF 4.600% SENIOR UNSECURED NOTES DUE 2031

ORLANDO, Fla., June 24, 2025 /PRNewswire/ -- NNN REIT, Inc. (NYSE: NNN) (the "Company" or "NNN"), a real estate investment trust, today announced that it has priced its public offering of $500,000,000 of 4.600% senior unsecured notes due 2031 (the "notes"). The notes were offered at 99.182% of the principal amount with a yield to maturity of 4.766%. Interest on the notes will be payable semi-annually on February 15 and August 15 of each year, commencing on February 15, 2026. The notes mature on February 15, 2031. The offering is expected to close on or about July 1, 2025, subject to customary closing conditions. BofA Securities, Inc., Wells Fargo Securities, LLC, PNC Capital Markets LLC, RBC Capital Markets, LLC, TD Securities (USA) LLC, U.S. Bancorp Investments, Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, SMBC Nikko Securities America, Inc., and Truist Securities, Inc. are acting as joint book-running managers and Raymond James & Associates, Inc. and Stifel, Nicolaus & Company, Incorporated are acting as co-managers for the offering. The Company intends to use the net proceeds from the offering of the notes to repay all of the outstanding indebtedness under its credit facility, to fund future property acquisitions and for general corporate purposes, or a combination of the foregoing. Pending application of the net proceeds from the offering of the notes, the Company may invest the net proceeds in short-term, income-producing investments.

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