X0508 4 2024-02-20 1 0001645873 Modiv Industrial, Inc. MDV 0001931399 Group of Trophy, LLC 21140 S. AVALON BLVD CARSON CA 90745 0 0 1 0 0 Units of Class C Limited Partnership Interest 2024-02-20 4 J 0 1312382 D Class C Common Stock 1312382 0 D Units of Class C Limited Partnership Interest ("Class C OP Units") of Modiv Operating Partnership, LP are redeemable for cash or, at the issuer's option, exchangeable for shares of the issuer's Class C Common Stock on a 1:1 basis, and have no expiration. On February 20, 2024, in connection with estate-related matters, the reporting person transferred and assigned all of the reporting person's Class C OP Units to First City Investment Group, LLC, a Delaware limited liability company for which the managing member of the reporting person serves as the sole member. The fair market value per Class C OP Unit is $14.46 based on the closing price of the issuer's Class C Common Stock on February 16, 2024, the last trading date prior to the transfer and assignment of the Class C OP Units. Following the transfer and assignment, the reporting person is no longer a beneficial owner of Class C OP Units or any other securities of the issuer. /s/ Nasser Watar, Manager 2024-02-21