Modiv Industrial completes merger with Global Net Lease; shares converted at 1.975 GNL per share

MODIV INDUSTRIAL, INC.

Modiv common stock converted at 1.975 GNL shares per share; preferred stock converted to $25 cash plus accrued dividends.
Modiv common and preferred stock suspended from NYSE on Aug 12, 2026; Form 25 and Form 15 filings planned for deregistration.
Modiv ceased separate existence; REIT Merger Sub (GNL subsidiary) is surviving entity; change of control to GNL.
All Modiv directors resigned; officers Halfacre, Raney, Pacini left; REIT Merger Sub officers assumed roles.
Modiv OP credit facility with KeyBank repaid in full and terminated as of closing.

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