Company: NLY-PF
Filing Date: 2025-05-06
Form Type: DEFA14A
Source: 0001104659-25-045048
Chunk: 4

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-05-06
Form: DEFA14A
Chunk 4
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 disruption,
as different stockholder groups would be able to solicit multiple written consents simultaneously. The Board believes that the Company’s
current governance framework, including the special meeting right, provides our stockholders with many options to meaningfully engage
with the Company and management year-round.

Based on these considerations,
stockholder feedback and market practice, and after careful consideration, the Board recommends that you vote against this proposal.

Virtual Shareholder Meeting

Annaly will hold our 2025 Annual
Meeting of Stockholders via an online (virtual) format on May 14, 2024 at 9:00 am EST. The Company has successfully conducted virtual
stockholder meetings since 2018 and we design our meetings to provide the same rights to participate as you would have at in-person meeting,
including providing opportunities to vote and ask questions.

Annaly’s Board of Directors unanimously recommends that you vote FOR each of the Director nominees (Proposal 1), FOR the advisory approval of the Company’s executive compensation (Proposal 2), FOR the ratification of the appointment of Ernst & Young LLP as the Company’s independent auditors (Proposal 3) and AGAINST the advisory stockholder proposal to adopt the right to act by written consent (Proposal 4).

The Company is pleased that the proxy advisory firms ISS and Glass Lewis have recommended that Annaly stockholders vote FOR all Company proposals (including the Say-on-Pay vote).

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This definitive additional proxy
materials contain or incorporate by reference certain forward-looking statements which are based on various assumptions (some of which
are beyond our control) and may be identified by reference to a future period or periods or by the use of forward-looking terminology,
such as "may," "will," "believe," "expect," "anticipate," "continue," or similar
terms or variations on those terms or the negative of those terms. Actual results could differ materially from those set forth in forward-looking
statements due to a variety of factors, including, but not limited to, changes in interest rates; changes in the yield curve; changes
in prepayment rates; the availability of mortgage-backed securities and other securities for purchase; the availability of financing and,
if available, the terms of any financing; changes in the market value of the Company’s assets; changes in business conditions and
the general economy; the Company’s ability to grow our residential credit business; the Company’s ability to grow our mortgage
servicing rights business; credit risks related