GNL's 3-year return of +9.4% trails the peer group median by only 20.3 percentage points, well below the 35-point threshold required to trigger a vote against under the low-positive TSR band; no overboarding, attendance, independence, or familial relationship concerns apply.

The TSR underperformance trigger does not fire (gap of -20.3pp vs. the 35pp threshold), director has served since 2020 with full tenure overlap, no overboarding or attendance issues identified.

Director joined in September 2023, giving her roughly 2.5 years of tenure — the TSR trigger does not fire given the -20.3pp gap is below the 35pp threshold, and no other policy flags apply.

Director joined in March 2024, which is within approximately 24 months of the meeting date, making him exempt from the TSR trigger under the new-director exemption; no other policy flags apply.

Director joined in February 2024, which is within approximately 24 months of the meeting date, making him exempt from the TSR trigger under the new-director exemption; no other policy flags apply.

Director joined in September 2023 with roughly 2.5 years of tenure; the TSR trigger does not fire because the -20.3pp gap is below the 35pp threshold, and Mr. Perla is a licensed CPA with extensive real estate audit expertise appropriate for his role as audit committee chair.

Director joined in September 2023 with roughly 2.5 years of tenure; the TSR trigger does not fire given the -20.3pp gap is below the 35pp threshold, and no other policy flags apply.

Director joined in March 2025, well within the 24-month new-director exemption window, so the TSR trigger does not apply; no other policy flags identified.