Company: NLY-PF
Filing Date: 2025-08-01
Form Type: 424B5
Source: 0001193125-25-171665
Chunk: 79

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-08-01
Form: 424B5
Chunk 79
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 have occurred and be continuing; and |

| • |     | the trustee shall have received the officers’ certificate and opinion of counsel called for by the 
 indenture.                                                                                         |

In the case of any such consolidation, sale, lease, conveyance or merger in which we are not the continuing entity and upon execution and delivery by the successor person of the supplemental indenture described above, such successor person shall succeed to, and be substituted for, us and may exercise every right and power of ours under the indenture with the same effect as if such successor person had been named as us therein, and we shall be automatically released and discharged from all obligations and covenants under the indenture and the debt securities issued under that indenture. 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