Company: NNN
Filing Date: 2025-06-25
Form Type: 424B5
Source: 0001193125-25-146859
Chunk: 70

Company: NNN REIT, INC.
Filing Date: 2025-06-25
Form: 424B5
Chunk 70
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 which date or dates, and the relative rights of priority, if any, of payment of dividends on shares of the series; |

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

| • |     | the redemption rights, including conditions and the price(s), if any, for shares of the series; |

| • |     | the terms and amounts of any sinking fund for the purchase or redemption of shares of the series; |

| • |     | the rights of the shares of the series in the event of any voluntary or involuntary liquidation, dissolution or 
 winding up of our affairs, and the relative rights of priority, if any, of payment of shares of the series;     |

| • |     | whether the shares of the series will be convertible into shares of any other class or series, or any of our                                                                                                                                             
 other securities, or securities of any other corporation or other entity, and, if so, the specification of the other class or series of the other security, the conversion price(s) or dates on which the shares will be convertible and all other terms 
 and conditions upon which the conversion may be made;                                                                                                                                                                                                    |

| • |     | restrictions on the issuance of shares of the same series or of any other class or series; |

| • |     | the voting rights, if any, of the holders of shares of the series; and |

| • |     | any other relative rights, preferences and limitations on that series |

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Rank Unless otherwise specified in the prospectus supplement, our preferred stock, of a particular series, being issued will, with respect to dividend rights and rights upon our liquidation, dissolution or winding up, rank:

| • |     | senior to all classes or series of our common stock, and to all equity securities ranking junior to preferred 
 stock we have issued;                                                                                         |

| • |     | on a parity with all equity securities we have issued, the terms of which specifically provide that such equity 
 securities rank on a parity with the preferred stock; and                                                       |

| • |     | junior to all preferred stock of a different series that we have issued, the terms of which specifically provide 
 that such equity securities rank senior to preferred stock of another series.                                    |

The term “equity securities” does not include convertible debt securities. Dividends Holders of preferred stock of each series will be entitled to receive, when, as and if declared by our Board of Directors, out of our assets