Key Points

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• Modiv Industrial stockholders approved the proposed merger with GNL Motion Merger Sub, along with related transactions involving Global Net Lease and affiliated entities.

• Stockholders also approved the advisory executive-compensation proposal; the adjournment proposal passed but was not needed because the merger received approval.

• The results are preliminary, with final vote totals to be filed in the meeting minutes and disclosed in a Form 8-K submitted to the SEC.

Stockholders of Modiv Industrial (NYSE:MDV) approved the company's proposed merger with GNL Motion Merger Sub, LLC, along with related merger compensation and adjournment proposals, at a special meeting of stockholders.

Chief Executive Officer and President Aaron Halfacre chaired the virtual meeting, while Chief Financial Officer, General Counsel and Secretary John Raney served as secretary.

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The primary proposal sought stockholder approval for Modiv Industrial's merger with and into GNL Motion Merger Sub, LLC, under an agreement and plan of merger dated May 3, 2026. Parties to the merger agreement include Modiv Industrial, Modiv Operating Partnership, LP, Global Net Lease, Inc., Global Net Lease Operating Partnership, L.P., GNL Motion Merger Sub, LLC and GNL Motion OpCo Merger Sub, LLC.

Three Proposals Presented

Raney outlined three matters for stockholder consideration:

• Approval of the merger and related transactions contemplated by the merger agreement.

• A non-binding advisory vote on compensation that may be paid or become payable to Modiv Industrial's named executive officers in connection with the proposed mergers.

• Approval to adjourn the special meeting, if necessary or appropriate, to allow for additional solicitation of votes supporting the merger proposal.

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Modiv Industrial's board of directors recommended that stockholders vote in favor of each proposal. The merger proposal required approval by a majority of the company's outstanding common shares entitled to vote. The merger compensation and adjournment proposals each required approval by a majority of votes cast on the respective item.

Quorum Confirmed

Halfacre said the inspector of election, Jim Rate of American Election Services, LLC, reported that a quorum was present. Broadridge Financial Solutions, Inc. tabulated proxies and ballots for the meeting.

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