Investor Presentaiton

Core Competency Focus: Single Tenant Retail Properties Net Lease Strategy Generates Reliable Income Stream w/Low Volatility Tenants pay taxes, maintenance and insurance THE NNN REIT” Why Selective Non-Investment Grade Tenants (vs. investment grade focus) ☐ ☐ Better pricing higher cap rate, lower investment - Better rent growth over lease term Durability of tenant credit can be fleeting Opportunity for tenant credit improvement (through operator M&A) Long-Term Approach ☐ Initial lease terms are 15-20 years (renewal options) Don't overreact to short-term market fluctuations ☐ Multi-year perspective to running our portfolio 11

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