Company: NLY-PF
Filing Date: 2025-12-22
Form Type: 424B5
Source: 0001193125-25-328718
Chunk: 15

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-12-22
Form: 424B5
Chunk 15
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| Annaly Residential Credit Group        |     | Invests primarily in non-Agency residential whole loans and securitized products within the residential and commercial markets.                                                                                      |
| Annaly Mortgage Servicing Rights Group |     | Invests in MSR, which provide the right to service residential mortgage loans in exchange for a portion of the interest payments made on the loans.                                                                  |

To ensure we continue to qualify as a REIT for U.S. federal income tax purposes, no person may own more than 9.8%, in number of shares or value, of the outstanding shares of any class of our common stock or our preferred stock, unless our Board waives or modifies this limitation. Stock Listing The New York Stock Exchange lists our common stock under the symbol “NLY”, our 6.95% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock under the symbol “NLY.F”, our 6.50% Series G Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock under the symbol “NLY.G” and our 6.75% Series I Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock under the symbol “NLY.I”. Principal Executive Offices and Telephone Number Our principal executive offices are located at 1211 Avenue of the Americas, New York, New York 10036. Our telephone number is (212) 696-0100. Our website is http://www.annaly.com.The contents of our website are not a part of, and are not incorporated by reference into, this prospectus or any accompanying prospectus supplement. 3

RISK FACTORS

Investing in our securities involves risks. You should carefully consider the risks described under “Risk Factors” in our most
recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, as well as any other information contained or incorporated by reference into this prospectus or in any prospectus supplement hereto before making a decision to
invest in our securities. See “Where You Can Find More Information About Us,” below.

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USE OF PROCEEDS

We intend to use the net proceeds of this offering for general corporate purposes.

Pending these uses, we intend to maintain the net proceeds of this offering in interest-bearing, short- term, marketable investment grade
securities or (interest or non-interest bearing) checking (or escrow) accounts or money market accounts that are consistent with our intention to maintain our qualification as a REIT. These investments may include