Company: NLY-PF
Filing Date: 2025-12-22
Form Type: 424B5
Source: 0001193125-25-328718
Chunk: 33

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-12-22
Form: 424B5
Chunk 33
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 Events of Default Unless otherwise specified in the applicable prospectus supplement, an Event of Default with respect to the debt securities of any series is defined in the indenture as being:

| (1) | default in payment of any interest, if any, on, or any Additional Amounts, if any, payable in respect of any                       
 interest, if any, on, any of the debt securities of that series when due, and continuance of such default for a period of 30 days; |

| (2) | default in payment of any principal of or premium, if any, on, or any Additional Amounts, if any, payable in                                                                                                                                             
 respect of any principal of or premium, if any, on, any of the debt securities of that series when due ( whether at maturity, upon redemption, upon repayment or repurchase at the option of the holder or otherwise and whether payable in cash, shares 
 of our common stock or other securities or property);                                                                                                                                                                                                    |

| (3) | default in the deposit of any sinking fund payment or payment under any analogous provision when due with 
 respect to any of the debt securities of that series;                                                     |

| (4) | default in the delivery when due of any securities, cash or other property (including, without limitation, any                                                                                                                                   
 shares of our common stock) when required to be delivered upon conversion of any convertible debt security of that series or upon the exchange of any debt security of that series which is exchangeable for shares of our common stock or other 
 securities or property (other than an exchange of debt securities of that series for other debt securities of the same series);                                                                                                                  |

| (5) | default in the performance, or breach, of any other covenant or warranty applicable to us in the indenture or                                                                                                                                           
 in any debt security of that series other than a covenant or warranty included in the indenture solely for the benefit of a series of debt securities other than that series, and continuance of that default or breach (without that default or breach 
 having been cured or waived in accordance with the indenture) for a period of 90 days after notice to us by the trustee or the holders of notless than 25% in aggregate principal amount of the debt securities of that series then outstanding;        |

| (6) | default after the expiration of any applicable grace period in the payment of principal when due, or resulting                                                                                                                                            
 in acceleration of, other indebtedness (other than Non-recourse Debt, as defined below)of us