NNN REIT (NNN) Investor presentation summary

Durable growth and dividend performance

• Achieved 36 consecutive years of annual dividend increases, one of only three REITs with this record.

• Delivered an 11.5% annualized total return over the past 25 years.

• Paid over $5 billion in dividends, with annual dividend per share rising steadily.

Portfolio and investment strategy

• Owns 3,711 properties totaling 39.6 million square feet, diversified across 400+ tenants and 37 lines of trade.

• Focuses on acquiring high-quality, long-term, single-tenant net lease properties nationwide.

• Maintains a granular, relationship-driven acquisition model, averaging $14.7M per deal and $3.6M per property.

• Sells fully valued assets to manage risk and fund new acquisitions.

Financial strength and risk management

• Holds investment-grade credit ratings (BBB+/Baa1) and maintains a conservative balance sheet.

• 100% of assets are unencumbered, with $1.2 billion in available liquidity.

• Net debt to EBITDAre at 5.7x, with a well-laddered average debt duration of 10.5 years.

• Limits floating rate and secured debt exposure to under 10%.