Company: NNN
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000950170-25-042337
Chunk: 28

Company: NNN REIT, INC.
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 28
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 with our pay for performance philosophy, 70% of the target long-term incentive award opportunity for our NEOs in 2024 was provided in the form of performance-contingent restricted stock grants.

2024 Business Results. The following are some of the highlights of our business results in 2024:

Generated Core FFO (excluding impairments and executive retirement costs) of $3.32 per share and Adjusted FFO (which is Core FFO adjusted for certain non-cash items) of $3.35 per share representing year over year growth of 1.8% and 2.8%, respectively;

Dividends increased 2.7% to $2.29 per share marking the 35 th consecutive year of annual dividend increases;

Invested $565.4 million in 75 properties at a projected 7.7% initial cash yield on assets;

Sold 41 properties for $148.7 million, producing $42.3 million of gains on sales; and

Balance sheet leverage, debt maturity profile and portfolio property occupancy remained at industry leading levels.

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The common stock of NNN is currently traded on the NYSE under the symbol "NNN." Set forth below is a line graph comparing the cumulative total stockholder return on NNN's common stock, based on the market price of the common stock and assuming reinvestment of dividends, with the FTSE National Association of Real Estate Investment Trusts Equity Index ("FNER") and the S&P 500 Index ("S&P 500") for the five-year period commencing December 31, 2019 and ending December 31, 2024. The graph assumes an investment of $100 on December 31, 2019.

<div align='center'>Comparison to Five-Year Cumulative Total Return

29</div>

The common stock of NNN is currently traded on the NYSE under the symbol "NNN." Set forth below is a line graph comparing the cumulative total stockholder return on NNN's common stock, based on the market price of the common stock and assuming reinvestment of dividends, with FNER and the S&P 500 for the twenty-five year period commencing December 31, 1999 and ending December 31, 2024. The graph assumes an investment of $100 on December 31, 1999.

<div align='center'>Comparison to Twenty-five-Year Cumulative Total Return</div>

2024Compensation Highlights. The following are some of