Net Lease Office Properties (NLOP) Proxy filing summary

Executive summary

• Shareholders are being asked to approve the Termination Authority Proposal, allowing the company to terminate after selling all or substantially all of its properties.

• The proposal is prompted by successful property sales and significant debt repayment, with expectations for further sales.

• Approval would enable the board to act quickly and avoid the costs of calling a special meeting in the future.

• If not approved, the company would continue to incur public company expenses, reducing shareholder distributions.

Voting matters and shareholder proposals

• The main item up for vote is the Termination Authority Proposal, requiring a two-thirds majority of eligible shares.

• The board unanimously recommends voting in favor of the proposal.

• Failure to vote or submit a proxy will count as a vote against the proposal.

• Multiple voting methods are available: phone, online, QR code, and mail.

Board of directors and corporate governance

• The board has determined that obtaining approval for the Termination Authority Proposal is advisable at this time to maximize efficiency and cost savings.