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NNN REIT, INC.

For the period ended Jun 30, 2026. Filed Aug 5, 2026.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2026 · Filed Aug 5, 2026

NNN$41.76+0.2%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Condensed Consolidated Statements of Cash Flows

(dollars in thousands)

Six Months Ended June 30,
20262025
Cash flows from operating activities:
Net earnings$191,875$196,987
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization141,822132,966
Impairment losses – real estate, net of recoveries18,7476,047
Amortization of notes payable discount1,9431,593
Amortization of debt costs3,5282,944
Amortization of interest rate hedges154929
Settlement of forward starting swaps—(409)
Gain on disposition of real estate(21,290)(20,011)
Performance incentive plan expense8,2528,692
Performance incentive plan payment(487)(1,702)
Change in operating assets and liabilities, net of assets acquired and liabilities assumed:
Decrease in receivables596476
Increase in accrued rental income(2,129)(84)
Increase in other assets(1,259)(1,560)
Increase (decrease) in accrued interest payable(2,568)986
Decrease in other liabilities(10,298)(5,247)
Other(307)95
Net cash provided by operating activities328,579322,702
Cash flows from investing activities:
Proceeds from the disposition of real estate73,83667,198
Additions to real estate(429,330)(453,909)
Principal payments received on mortgages and notes receivable—460
Other(1,214)(718)
Net cash used in investing activities(356,708)(386,969)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS – CONTINUED

(dollars in thousands)

Six Months Ended June 30,
20262025
Cash flows from financing activities:
Proceeds from line of credit payable$592,000$618,000
Repayment of line of credit payable(911,600)(350,300)
Proceeds from term loan payable500,000—
Payment of debt issuance costs(1,364)(187)
Proceeds from issuance of common stock75,95411,593
Stock issuance costs(1,338)(252)
Payment of common stock dividends(227,122)(216,901)
Net cash provided by financing activities26,53061,953
Net decrease in cash, cash equivalents and restricted cash(1)(1,599)(2,314)
Cash, cash equivalents and restricted cash at beginning of period(1)5,8229,062
Cash, cash equivalents and restricted cash at end of period(1)$4,223$6,748
Supplemental disclosure of cash flow information:
Interest paid, net of amount capitalized$104,290$92,016
Supplemental disclosure of noncash investing and financing activities:
Change in other comprehensive income$5,650$520
Change in work in progress accrual$7,073$11,020
(1)Cash, cash equivalents and restricted cash is the aggregate of cash and cash equivalents and restricted cash and cash held in escrow from the Condensed Consolidated Balance Sheets. As of June 30, 2026, NNN had no restricted cash. As of December 31, 2025 and June 30, 2025, NNN had restricted cash of $776 and $775, respectively.
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.