Company: NNN
Filing Date: 2025-06-24
Form Type: 424B5
Source: 0001193125-25-145374
Chunk: 136

Company: NNN REIT, INC.
Filing Date: 2025-06-24
Form: 424B5
Chunk 136
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 of these laws could adversely affect
our ability to qualify and be taxed as a REIT, as well as the tax or other consequences of an investment in our common or preferred stock.

59

PLAN OF DISTRIBUTION

We may sell the securities being offered by this prospectus in one or more of the following ways from time to time: (1) through
underwriters, brokers or dealers; (2) through agents; (3) in “at the market offerings,” including sales made to or through a market maker, or into an existing trading market or securities exchange or otherwise, in block
transactions or by any other method permitted by law, including privately negotiated transactions; (4) directly to purchasers; (5) through a combination of any of these methods of sale; or (6) through any other method permitted by
applicable law. Any such underwriter or agent involved in the offer and sale of the offered securities will be named in the applicable prospectus supplement.

Underwriters may offer and sell our securities at a fixed price or prices, which may be changed, at market prices prevailing at the time of
sale, at prices related to the prevailing market prices or at negotiated prices. We also may, from time to time, authorize underwriters acting as our agents to offer and sell our securities upon the terms and conditions set forth in an applicable
prospectus supplement. In connection with the sale of our securities, underwriters may be deemed to have received compensation from us in the form of underwriting discounts or commissions, and may also receive commissions from purchasers of our
securities for whom they may act as agent. Underwriters may sell our securities to or through dealers, and such dealers may receive compensation in the form of discounts, concessions from the underwriters or commissions from the purchasers for whom
they may act as agent.

Any underwriting compensation we pay to underwriters or agents in connection with the offering of our securities
and any discounts, concessions or commissions allowed by underwriters to participating dealers will be set forth in the applicable prospectus supplement. Underwriters, dealers and agents participating in the distribution of the offered securities
may be deemed to be underwriters, and any discounts and commissions received by them and any profit realized by them on resale of the our securities may be deemed to be underwriting discounts and commissions under the Securities Act of 1933.
Underwriters, dealers and agents may be entitled, under agreements entered into with us, to indemnification against and contribution toward certain civil liabilities, including liabilities under the Securities