Broadstone Net Lease updates on $375.6M YTD investments; Red Lobster leases assumed

Broadstone Net Lease, Inc.

Invested $375.6M YTD: $234.3M acquisitions, $86.1M development fundings, $52.2M transitional capital, $3.0M capex.
Committed $453.7M to fund developments; sold 2.0M ATM shares forward for ~$36.5M gross proceeds, unsettled.
UNFI build-to-suit rent commenced; UNFI to become #2 tenant by ABR with ~$25.1M closeout expenses expected Q4 2024.
Red Lobster bankruptcy resolved; all 18 locations (1.6% of ABR) assumed under master lease, operations continue.
CEO cites positive momentum; development pipeline provides accretive growth through 2025 and 2026.

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