Company: NNN
Filing Date: 2025-06-25
Form Type: 424B5
Source: 0001193125-25-146859
Chunk: 60

Company: NNN REIT, INC.
Filing Date: 2025-06-25
Form: 424B5
Chunk 60
---
 • |     | failure to deposit any sinking fund payment when due on debt securities of that series; |

| • |     | failure to perform any of our other covenants in the Indenture (unless the covenant applies to a different series         
 of debt securities issued under the Indenture), for 60 days after we receive written notice as provided in the Indenture; |

| • |     | default under any evidence of our indebtedness or any mortgage, indenture or other instrument under which such                                                                                                                                        
 indebtedness is issued or by which such indebtedness is secured which results in the acceleration of indebtedness in an aggregate principal amount exceeding $10,000,000, but only if such indebtedness is not discharged or such acceleration is not 
 rescinded or annulled as provided in the Indenture;                                                                                                                                                                                                   |

| • |     | any case, proceeding or other action under bankruptcy, insolvency, reorganization or relief of debtors laws is                                                                         
 initiated by or against us (or any of our Significant Subsidiaries) in which the entity initiating the case, proceeding or other action seeks to have an order for relief entered with |

12

| respect to it, or seeks to adjudicate us (or any of our Significant Subsidiaries) bankrupt or insolvent, or seeks reorganization, arrangement, adjustment, 
 winding-up, liquidation, dissolution, composition or other relief with respect to our (or any of our Significant Subsidiaries’) debts;                     |

| • |     | a court grants relief in connection with any of the cases, proceedings or other actions described above; |

| • |     | we (or any of our Significant Subsidiaries) seek appointment of a receiver, trustee, custodian, conservator or                                                                                                                                      
 other similar official for us (or any of our Significant Subsidiaries) or for all or any substantial part of our (or any of our Significant Subsidiaries’) assets, or we (or any of our Significant Subsidiaries) make a general assignment for the 
 benefit of our (or any of our Significant Subsidiaries’) creditors; and                                                                                                                                                                             |

| • |     | any other event of default provided with respect to that series of debt securities. |

The term “Significant Subsidiary” means each of our significant subsidiaries (as defined in Regulation S-Xpromulgated under the Securities Act of 1933, as amended) that, in general, meets any of the following