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Matt Williams
SVP, Portfolio Management & Analysis

Pete Gill
Director of Leasing

5.6%

Total Shareholder Return Comparison

	5 Years	10 Years	15 Years	20 Years	25 Years	30 Years
NNN REIT	7.3%	6.7%	10.3%	11.5%	10.6%	11.1%
Indices
* NAREIT Equity REIT Index (FNERTR)	6.2%	6.5%	6.7%	9.5%	8.3%	9.1%
* Morgan Stanley REIT Index (RMS G)	6.0%	5.9%	6.2%	9.1%	8.0%	N/A
S&P 500 Index (SPX)	11.2%	12.2%	10.0%	10.4%	7.4%	9.7%
* S&P 400 Index (MID)	7.6%	9.8%	9.8%	11.1%	9.5%	11.1%

For Periods Ending March 31, 2023. Total Return comprised of stock price appreciation plus dividends paid.

* NNN is a member of this index. Source: Bloomberg