Investor Presentaiton

NNN's Strategy Results in Higher Occupancy and Less Volatility From 2003 THE NNN REIT" Q1 2022, NNN's occupancy never fell below 96.4% while the REIT industry average never rose above 93.7%. 100% 95% 90% 85% 97.0% 92.1% 98.3% 98.2% 98.3% 97.4% NNN ■REIT Industry (Excludes Hotels & Health Care) 99.1% 99.0% 99.1% 99.2 % 99.0% 99.0 % 98.6% 98.5 % 98.2% 98.2% 97.9% -97.4% 96.9% 96.7% 96.4% 93.5% 93.5% 93.0% 92.8% 92.0% 90.8% 90.5% 90.7% 90.1% 93.5% 93.7% 93.6% 93.3% 92.7% 92.5% 92.0% 87.1% *90.4% 90.1% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Source: SNL Financial 98.1% NNN Avg. Q1 2022 *REIT Industry Average as of Q4 2021 15

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