X0609 4 2026-08-12 true 0001645873 MODIV INDUSTRIAL, INC. MDV 0002062006 GRISHAM SARA R false 1500 NORTH GRANT STREET, #5609 DENVER CO 80203 true Chief Accounting Officer false Class X Units 2026-08-12 4 M 0 40000 0 D COMMON STOCK, CLASS C 40000 0 D Class C Units 2026-08-12 4 M 0 40000 0 A COMMON STOCK, CLASS C 40000 40000 D Class C Units 2026-08-12 4 D 0 40000 0 D COMMON STOCK, CLASS C 40000 0 D Pursuant to the terms of an Agreement and Plan of Merger, dated as of May 3, 2026 (the "Merger Agreement"), by and among Modiv Industrial, Inc. ("Modiv"), Modiv Operating Partnership, LP (the "Modiv Operating Partnership"), Global Net Lease, Inc. ("GNL"), GNL Motion Merger Sub, LLC ("REIT Merger Sub"), Global Net Lease Operating Partnership, L.P. (the "GNL Operating Partnership") and GNL Motion OpCo Merger Sub, LLC ("OpCo Merger Sub"), Modiv merged with and into REIT Merger Sub, with REIT Merger Sub continuing as the surviving entity and a wholly owned subsidiary of GNL (the "REIT Merger"), and OpCo Merger Sub merged with and into the Modiv Operating Partnership, with the Modiv Operating Partnership continuing as the surviving entity and a wholly owned subsidiary of GNL Operating Partnership (the "OpCo Merger"). Immediately prior to the effective time of the OpCo Merger (the "OpCo Merger Effective Time"), each outstanding unit of Class X limited partnership interest (the "Class X Units") in the Modiv Operating Partnership immediately vested in full and converted into one unit of Class C limited partnership interest (the "Class C Units") in the Modiv Operating Partnership. At the OpCo Merger Effective Time, each outstanding Class C Unit converted into the right to receive 1.975 units of limited partnership interest in the GNL Operating Partnership designated as OP Units (as defined in the agreement of limited partnership of GNL Operating Partnership, "GNL OP Units"), plus the right to receive cash in lieu of any fractional GNL OP Units, if any, without interest. /s/ John Raney, by Power of Attorney for Sara R. Grisham 2026-08-12