Company: NNN
Filing Date: 2025-06-25
Form Type: 424B5
Source: 0001193125-25-146859
Chunk: 45

Company: NNN REIT, INC.
Filing Date: 2025-06-25
Form: 424B5
Chunk 45
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 contract or other document referred to in, or incorporated by reference in, this prospectus and any accompanying prospectus supplement are not necessarily complete and, where that contract is an exhibit to the registration statement, each statement is qualified in all respects by the exhibit to which the reference relates. This registration statement is also available to you on the SEC’s website. The SEC allows us to “incorporate by reference” the information we file with the SEC, which means that we can disclose important information to you by referring to those documents. The information incorporated by reference is an important part of this prospectus. Any statement contained in a document which is incorporated by reference in this prospectus is automatically updated and superseded if information contained in this prospectus, or information that we later file with the SEC, modifies or replaces this information. We incorporate by reference the following documents we filed with the SEC:

We are also incorporating by reference additional documents that we file with the SEC pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, between the date of this prospectus and the termination of the offering of the securities described in this prospectus. We are not, however, incorporating by reference any documents or portions thereof, whether specifically listed above or filed in the future, that are not deemed “filed” with the SEC, including any information furnished pursuant to Items 2.02 or 7.01 of Form 8-K orcertain exhibits furnished pursuant to Item 9.01 of Form 8-K. NNN REIT, Inc. 450 South Orange Avenue, Suite 900 Orlando, Florida 32801 Attention: Vincent H. Chao (telephone numbers 1-800-NNN-REIT (1-800-666-7348)or 1-407-265-7348) S-30

Prospectus NNN REIT, Inc. Debt Securities, Preferred Stock, Depositary Shares, Common Stock, Stock Purchase Contracts, Rights, Warrants and Units We may from time to time offer, in one or more series, separately or together, the following:

| • |     | our debt securities, which may be either senior debt securities or subordinated debt securities; |

| • |     | shares of our preferred stock; |

| • |     | shares of our preferred stock represented by depositary shares; |

| • |     | shares of our common stock; |

| • |     | stock purchase contracts to purchase