NNN: Leadership change · Company disclosure

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 13, 2026, the Board of Directors (the "Board") of NNN REIT, Inc. (the "Company") appointed, pursuant to the recommendation of the Governance and Nominating Committee, Christina Chiu and Charles “Chaz” D. Mueller, Jr. to the Board, effective October 1, 2026. Also on August 13, 2026, Betsy D. Holden formally notified the Board of her intention to retire from the Board effective February 19, 2027. The strategic additions of Ms. Chiu and Mr. Mueller are part of the Company’s staged Board succession planning in preparation for Ms. Holden’s planned retirement. Ms. Chiu is currently the President of Empire State Realty Trust, a publicly traded real estate investment trust (“REIT”) focused on premier office, retail, and multifamily properties in the New York metropolitan area. Prior to her appointment as President, Ms. Chiu served as Executive Vice President and both Chief Operating Officer and Chief Financial Officer. Before joining Empire State Realty Trust in 2020, Ms. Chiu spent nearly 18 years at Morgan Stanley, where she most recently served as Managing Director and Chief Operating Officer of the Global Listed Real Assets Investing business, leading capital raising, investor relations, strategic planning, and real estate investment oversight. She began her career as a real estate investment banking analyst on both principal investing and strategic advisory transactions. Ms. Chiu earned a Bachelor of Science in Finance and Accounting, summa cum laude, from NYU Stern School of Business. Mr. Mueller currently serves as a member of the Board of Trustees of Vivmark Residential, the combined company formed in 202