Company: NLY-PF
Filing Date: 2025-08-01
Form Type: 424B5
Source: 0001193125-25-171665
Chunk: 65

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-08-01
Form: 424B5
Chunk 65
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 preferred stock; |

| • |     | the voting rights of the preferred stock, if applicable; |

| • |     | the preemptive rights of the preferred stock, if applicable; |

| • |     | the restrictions on alienability of the preferred stock, if applicable; |

| • |     | the number of shares offered, the liquidation preference per share and the offering price of the shares; |

| • |     | liability to further calls or assessment of the preferred stock, if applicable; |

| • |     | the dividend rate(s), period(s) and payment date(s) or method(s) of calculation applicable to the preferred stock 
 (including fixed and floating rates, as applicable);                                                              |

| • |     | the date from which dividends on the preferred stock will accumulate, if applicable; |

| • |     | the procedures for any auction and remarketing for the preferred stock; |

| • |     | the provision for a sinking fund, if any, for the preferred stock; |

| • |     | the provision for and any restriction on redemption, if applicable, of the preferred stock; |

| • |     | the provision for and any restriction on repurchase, if applicable, of the preferred stock; |

| • |     | any listing of the preferred stock on any securities exchange; |

| • |     | the terms and provisions, if any, upon which the preferred stock will be convertible into common stock or any 
 other security, including the conversion price (or manner of calculation) and conversion period;              |

7

| • |     | the terms under which the rights of the preferred stock may be modified, if applicable; |

| • |     | any other specific terms, preferences, rights, limitations or restrictions of the preferred stock; |

| • |     | a discussion of material U.S. federal income tax considerations applicable to the preferred stock; |

| • |     | the relative ranking and preferences of the preferred stock as to dividend rights and rights upon the 
 liquidation, dissolution or winding-up of our affairs;                                                |

| • |     | any limitation on issuance of any class or series of preferred stock ranking senior to or on parity with the                            
 class or series of preferred stock as to dividend rights and rights upon the liquidation, dissolution or winding-up of our affairs; and |

| • |     | any limitations on direct or beneficial ownership and restrictions on transfer of the preferred stock, in each 
 case as may be appropriate to preserve our qualification as a