Modiv Industrial, Inc. · NYSE:MDV
Modiv Industrial — Merger or Acquisition (May 2026)
6 slides from Modiv Industrial's merger presentation, May 12, 2026
Slide 1: Acquisition of Modiv Industrial
Acquisition of Modiv Industrial
Slide 2: Transaction Rationale & Strategic Benefits
Transaction Rationale & Strategic Benefits Q1'26 Investor Presentation 4 Acquisition of Modiv Industrial 1. Metric based on square feet as of December 31, 2025, adjusted for Modiv’s previously disclosed disposition of Northrop Grumman and Kalera. 2. Metric based on Annual Base Rent as of December 31
Slide 3: Transaction Structure and Overview
Transaction Structure • Global Net Lease, Inc. (“GNL”) to acquire Modiv Industrial Inc. (“MDV”) in all-stock transaction • Transaction valued at enterprise value of approximately $535 million • GNL intends to fully repay all of Modiv’s existing balance sheet debt and pay off Modiv’s preferred stock
Slide 4: Top Ten Portfolio Tenants; Modiv Portfolio Summary
Top Ten Portfolio Tenants Tenant Property Type Industry Credit Ratings WALT (Years) % of Total ABR Industrial Infrastructure Implied Ba1 21.0 14.3% Retail Automotive Dealership Implied Baa2 20.8 10.8% Government Government Aa2 8.7 7.0% Industrial Technology A2(3) 9.9 6.7% Industrial Aerospace Implie
Slide 5: Long-Dated, Well Laddered Lease Maturities
0.0% 3.0% 2.0% 4.0% 2.0% 91.0% 2026 2027 2028 2029 2030 2031+ Modiv’s attractive lease maturity schedule will extend GNL’s pro forma WALT to 6.7 years(2), an increase from 5.9 years in Q1’26 Long-Dated, Well Laddered Lease Maturities Q1'26 Investor Presentation 7 Acquisition of Modiv Industrial MDV'
Slide 6: Enhanced Portfolio Composition
Pro forma GNL enhanced through the acquisition of MDV’s pure-play, single-tenant industrial portfolio Enhanced Portfolio Composition Q1'26 Investor Presentation 8 Acquisition of Modiv Industrial Note: Portfolio metrics as of December 31, 2025, adjusted for Modiv’s previously disclosed disposition of