Company: NNN
Filing Date: 2025-06-24
Form Type: 424B5
Source: 0001193125-25-145374
Chunk: 63

Company: NNN REIT, INC.
Filing Date: 2025-06-24
Form: 424B5
Chunk 63
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 the time, method and place of conducting any proceeding for any remedy available to the trustee, or of exercising any trust or power conferred upon the trustee. However, the trustee may refuse to follow any direction which is in conflict with any law or the Indenture, which may involve such trustee in personal liability or which may be unduly prejudicial to the holders of debt securities of such series not involved. Within 120 days after the close of each fiscal year, we are required to deliver to each trustee under the Indenture a certificate, signed by one of several specified officers, stating whether such officer has knowledge of any default under the Indenture and, if so, specifying the nature and status of each such default. Modification of the Indenture Modifications and amendments of the Indenture may be made only with the consent of the holders of a majority in principal amount of all of our outstanding debt securities issued which are affected by such modification or amendment. The following modifications or amendments will not be effective against a holder without its consent:

| • |     | a change in the stated maturity of the principal of, installment of interest or premium (if any) on the debt 
 security;                                                                                                    |

| • |     | a reduction in the principal amount of, or the rate of amount of interest on, or any premium payable upon 
 redemption of, the debt security;                                                                         |

| • |     | a reduction in the principal amount of an original issue discount security that would be due and payable upon                                                               
 declaration of acceleration of the maturity thereof or would be provable in bankruptcy, or adversely affect any right of repayment of the holder of any such debt security; |

| • |     | a change in the place of payment, or the currency or currencies, for payment of principal of, or premium (if any) 
 or interest on any such debt security;                                                                            |

| • |     | an impairment of the right to institute suit for the enforcement of any payment on or with respect to any such 
 debt security;                                                                                                 |

| • |     | a reduction in the percentage of outstanding debt securities of any series necessary to modify or amend the                                                                         
 Indenture, to waive compliance with certain provisions of or certain defaults and consequences under, or to reduce the quorum or voting requirements set forth in the Indenture; or |

| • |     | a modification of any of the foregoing provisions or any of the provisions relating to the waiver of certain past                                                                                                                  
 defaults or certain covenants, except to