Net Lease Office Properties (NLOP) Proxy Filing summary

Executive summary

• Annual Meeting scheduled for June 16, 2025, will be held virtually, with shareholders able to vote online, by phone, mail, or QR code.

• Shareholders will vote on electing two Class I Trustees for a two-year term and ratifying PricewaterhouseCoopers LLP as the independent auditor for 2025.

• The company, spun off from W. P. Carey Inc. in November 2023, is externally managed and focuses on strategic asset management and property dispositions.

• As an emerging growth company, it provides scaled disclosures and reduced reporting requirements.

Voting matters and shareholder proposals

• Board recommends voting FOR both Class I Trustee nominees and FOR ratification of PricewaterhouseCoopers LLP as auditor.

• Shareholder proposals for the 2026 meeting must be received between November 18 and December 18, 2025, and comply with bylaw requirements.

• Proxy access allows groups of up to 20 shareholders with 3%+ ownership for 3 years to nominate directors.

Board of directors and corporate governance

• Board is divided into three classes, with declassification set for 2027; current nominees are Axel K.A. Hansing and Jean Hoysradt.

• All standing committees (Audit, Compensation, Nominating and Corporate Governance) are composed entirely of independent trustees.

• Trustees attended at least 75% of meetings in 2024; independence is reviewed annually.

• Board refreshment and annual self-evaluations are overseen by the Nominating and Corporate Governance Committee.

• Shareholders can amend bylaws and there is no shareholder rights plan.