MODIV INDUSTRIAL, INC.

Modiv Industrial, Inc. announced the declaration of a quarterly cash dividend for its 7.375% Series A Cumulative Redeemable Perpetual Preferred Stock and monthly cash distributions for its Class C Common Stock. The preferred stock dividend is $0.4609375 per share for the second quarter of 2026, payable on July 15, 2026. The common stock distributions are $0.10 per share for July and August 2026, both payable on or about August 10, 2026, representing an annualized rate of $1.20 per share.

MODIV INDUSTRIAL, INC. reported a net loss attributable to common stockholders of $(862) thousand, or $(0.11) per share, for the first quarter of 2026, compared to a net income of $2 thousand, or $(0.01) per share, in Q1 2025. Total revenue for the quarter was $11.703 million. The company acquired the remaining 27.3% interest in the Santa Clara property for $9.6 million and sold a vacant industrial property for $4.1 million. Additionally, the Credit Facility was amended, extending its maturity to July 2028, and new interest rate swap agreements were executed.

Global Net Lease, Inc. (GNL) announced a definitive merger agreement to acquire Modiv Industrial, Inc. (MDV) in an all-stock transaction valued at an enterprise value of approximately $535 million. Modiv stockholders will receive 1.975 newly-issued shares of GNL common stock or OP units for each Modiv share or OP unit, representing a 17% premium. The transaction is expected to be immediately 4% accretive to GNL's AFFO per share and leverage-neutral, while Modiv stockholders are projected to see a 25% increase in annual dividends. The merger, approved by both boards, is anticipated to close in the third quarter of 2026.

Modiv Industrial, Inc. (MDV) filed an amendment to its 2025 Form 10-K to include Part III information, as it does not expect to file its definitive proxy statement within 120 days. The amendment details executive compensation, including significant Class X OP Unit grants to its named executive officers. John C. Raney was appointed CFO and Secretary in March 2026, succeeding Raymond J. Pacini, who remains Executive Vice President. The company also provided details on director compensation and auditor fees.