Company: NLY-PF
Filing Date: 2025-08-01
Form Type: 424B5
Source: 0001193125-25-171665
Chunk: 73

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-08-01
Form: 424B5
Chunk 73
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 bearer securities may be made at the corporate trust office of the relevant trustee or at any office or agency designated by us in the United States if, but only if, payment of the full amount due on the bearer debt securities for principal, premium, if any, or interest, if any, at all offices outside of the United States maintained for that purpose by us is illegal or effectively precluded by exchange controls or similar restrictions. Unless otherwise indicated in the applicable prospectus supplement, we will not be required to:

| • |     | issue, register the transfer of or exchange debt securities of any series during a period beginning at the                                                                                  
 opening of business 15 days before any selection of debt securities of that series of like tenor and terms to be redeemed and ending at the close of business on the day of that selection; |

| • |     | register the transfer of or exchange any registered debt security, or portion of any registered debt security, 
 selected for redemption, except the unredeemed portion of any registered debt security being redeemed in part; |

| • |     | exchange any bearer debt security selected for redemption, except to exchange a bearer debt security for a            
 registered debt security of that series of like tenor and terms that is simultaneously surrendered for redemption; or |

| • |     | issue, register the transfer of or exchange a debt security that has been surrendered for repayment at the option 
 of the holder, except the portion, if any, of the debt security not to be repaid.                                 |

Book-Entry Debt Securities The securities depositary will be The Depository Trust Company, New York, NY, known as DTC, unless otherwise identified in the prospectus supplement relating to the securities. If DTC is the depositary for an issuance of securities, the issuance will be issued as fully-registered securities registered in the name of Cede & Co. (DTC’s partnership nominee) or such other name as may be requested by an authorized representative of DTC. One fully registered security certificate will be issued for each issue of securities, each in the aggregate principal amount of such issue, and will be deposited with DTC. If, however, the aggregate amount of any issue exceeds $500 million, one certificate will be issued with respect to each $500 million of issue and an additional certificate will be issued with respect to any remaining amount of such issue. DTC has advised us that it is a limited-purpose trust company organized under the New York Banking Law, a “banking organization” within the meaning of