Company: NNN
Filing Date: 2025-06-25
Form Type: 424B5
Source: 0001193125-25-146859
Chunk: 32

Company: NNN REIT, INC.
Filing Date: 2025-06-25
Form: 424B5
Chunk 32
---
 Any amount attributable to accrued but unpaid interest on the notes will generally be treated in the same manner as payments of interest made to such Non-U.S.Holder, as described above under “—Interest on the Notes.” Non-U.S.Holders should consult their tax advisors on the treatment of any accrued but unpaid interest on the notes. Information Reporting and Backup Withholding. Payments to a Non-U.S.Holder of interest on a note generally will be reported to the IRS and to the Non-U.S.Holder. Copies of applicable IRS information returns may be made available, under the provisions of a specific tax treaty or agreement, to the tax authorities of the country in which the Non-U.S.Holder resides. Additional information reporting and backup withholding generally will not apply to payments of interest with respect to which either the requisite certification that the Non-U.S.Holder is not a United States person for U.S. federal income tax purposes, as described under the heading “—Interest on the Notes” above, has been received or an exemption has otherwise been established provided that neither we nor our paying agent have actual knowledge or reason to know that the Non-U.S.Holder is a United States person or that the conditions of any other exemption are not, in fact, satisfied. S-20

As a general matter, backup withholding and information reporting will not apply to a payment of the proceeds of a sale of a note effected at a foreign office of a foreign broker. Information reporting (but not backup withholding) will apply, however, to a payment of the proceeds of a sale of a note by a foreign office of a broker that:

| • |     | is a United States person; |

| • |     | is a “controlled foreign corporation” (a foreign corporation more than 50% owned (by vote or value) by certain 
 U.S. shareholders) for U.S. federal income tax purposes;                                                       |

| • |     | is a foreign partnership, if at any time during its tax year more than 50% of its income or capital interest are held by 
 United States persons or if it is engaged in the conduct of a trade or business in the United States; or                 |

| • |     | is a U.S. branch of a foreign bank or insurance company that is treated as a United States person; |

unless the broker has documentary evidence in its records that the holder or beneficial owner is a Non-U.S.Holder and certain other conditions are met, or the holder otherwise establishes an exemption. Payment of the proceeds of a