Investment and Portfolio Overview - The company invested $210.0 million in 27 properties during the three months ended March 31, 2022, at a weighted average initial cash capitalization rate of 5.7%[79] - As of March 31, 2022, the portfolio comprised 752 properties, with an annualized base rent (ABR) of $347.7 million[81] - The portfolio was approximately 99.8% leased with an ABR weighted average remaining lease term of approximately 10.5 years[79] - Approximately 97.3% of leases have contractual rent escalations, with an ABR weighted average minimum increase of 2.0%[79] - The company’s properties are diversified across 56 different industries, with no single tenant accounting for more than 2.1% of the ABR[79] - The industrial property type represents 46% of the total portfolio ABR, with manufacturing and distribution & warehouse making up 14.6% and 14.1% respectively[82] - Healthcare properties account for 19.1% of the total portfolio ABR, with clinical and healthcare services comprising 7.4% and 3.6% respectively[84] - Restaurant properties make up 15.0% of the total portfolio ABR, with casual dining and quick service restaurants at 7.8% and 7.2% respectively[84] - The portfolio includes properties located in 43 U.S. states and four Canadian provinces, with no single geographic concentration exceeding 10.5% of the ABR[79] Tenant and Revenue Information - Total top 10 tenants contributed $59,529,000 in annual base rent (ABR), representing 17.1% of the total portfolio[86] - The top 20 tenants accounted for $104,215,000 in ABR, which is 30.0% of the total portfolio[86] - The largest tenant, Jack's Family Restaurants LP, has 43 properties with an ABR of $7,166,000, making up 2.1% of the total portfolio[86] - Dollar General Corporation operates 55 properties with an ABR of $5,391,000, representing 1.6% of the total portfolio[86] - The total square footage for the top 10 tenants is 4,215,000 square feet, which is 12.9% of the total portfolio[86] - The top 20 brands have a total ABR of $103,446,000, accounting for 29.8% of the total portfolio[86] - Krispy Kreme Doughnut Corporation has 27 properties with an ABR of $5,034,000, representing 1.4% of the total portfolio[86] - The largest property type by ABR is Quick Service Restaurants, contributing $12,200,000 across multiple tenants[86] - The total number of properties for the top 20 tenants is 327, with a total square footage of 7,815,000 square feet[86] - The ABR for the top 10 brands is $58,545,000, which is 16.8% of the total portfolio[86] Financial Performance - Total lease revenues for the three months ended March 31, 2022, were $93,841,000, an increase of 1.3% compared to $92,642,000 for the three months ended December 31, 2021[99] - The company recognized a gain of $1,196,000 on the sale of real estate during the three months ended March 31, 2022, compared to $3,732,000 for the three months ended December 31, 2021, representing a decrease of 68.0%[104] - Net income for the three months ended March 31, 2022, was $28,441,000, a decrease of 11.7% from $32,226,000 for the three months ended December 31, 2021[106] - The company reported a net earnings per diluted share of $0.16 for the three months ended March 31, 2022, down 15.8% from $0.19 for the three months ended December 31, 2021[106] - Operating expenses for the three months ended March 31, 2022, totaled $48,162,000, an increase of 3.2% from $46,649,000 for the three months ended December 31, 2021[101] - Depreciation and amortization expenses increased to $34,290,000 for the three months ended March 31, 2022, up 2.4% from $33,476,000 for the three months ended December 31, 2021[101] - The company experienced a $1,126,000 increase in other expenses primarily due to a $1,100,000 unrealized foreign exchange loss on CAD borrowings[105] - The company anticipates significant lease expirations in 2030, with 100 properties and an ABR of $53,209,000, accounting for 15.3% of the total portfolio[97] - The company reported a decrease in variable rental amounts earned, totaling $(1,326,000) for the three months ended March 31, 2022, a 100% decline compared to the previous period[99] - Lease revenues increased to $93.841 million for the three months ended March 31, 2022, up 13.5% from $82.698 million in the same period of 2021[108] - The net write-offs of accrued rental income increased by over 100%, from $(442,000) in 2021 to $(1.326 million) in 2022[108] - Net income rose to $28.441 million, an 18.7% increase from $23.960 million in the prior year[118] - The company reported a decrease in general and administrative expenses by 17.0%, from $10.633 million in 2021 to $8.828 million in 2022[108] Debt and Liquidity - Total debt outstanding as of March 31, 2022, was $1.8 billion, with a Net Debt to Annualized Adjusted EBITDAre ratio of 5.14x[121] - The company has a total of 745 properties in the U.S., which accounts for 97.6% of the total portfolio[91] - The company has a remaining capacity of $733.9 million on its Revolving Credit Facility as of March 31, 2022[128] - The company aims to maintain a Net Debt to Annualized Adjusted EBITDAre ratio below 6.0x on a sustained basis through the use of follow-on equity offerings and the ATM Program[126] - Cash and cash equivalents totaled $65.5 million as of March 31, 2022, an increase from $18.4 million at the same time in 2021[137] - The company had approximately $51.9 million of expected obligations due throughout the remainder of 2022, primarily consisting of $48.4 million of interest expense[123] - The company has contractual obligations totaling approximately $2,187.2 million as of March 31, 2022, including interest expenses and tenant improvement allowances[132] - Borrowings under the Revolving Credit Facility and other variable-rate debt totaled $863.6 million as of March 31, 2022, with $720.1 million swapped to a fixed rate[152] Cash Flow and Operations - Net cash provided by operating activities for the three months ended March 31, 2022, was $59,104, compared to $51,780 for the same period in 2021, representing a 14.5% increase[139] - Net cash used in investing activities was $(207,678) for the three months ended March 31, 2022, compared to $(67,661) for the same period in 2021, indicating a significant increase in investment outflows[139] - Net cash provided by financing activities was $186,352 for the three months ended March 31, 2022, compared to $(76,497) for the same period in 2021, showing a substantial improvement in financing cash flows[139] - Funds from Operations (FFO) for the three months ended March 31, 2022, was $61,504, compared to $51,929 for the same period in 2021, reflecting a 18.4% increase[141] - Adjusted EBITDAre for the three months ended March 31, 2022, was $84,440, compared to $81,453 for the same period in 2021, indicating a 3.6% growth[144] - Annualized Adjusted EBITDAre for March 31, 2022, was $337,759, compared to $325,812 for December 31, 2021, showing a 3.7% increase[144] Interest Rate and Currency Risk - The company has fixed-rate debt with a carrying value of approximately $1.7 billion and a fair value of $1.6 billion as of March 31, 2022[150] - A 1% increase in market interest rates would result in a decrease in the fair value of the company's fixed-rate debt by approximately $90.7 million[150] - The company expects a 1% increase or decrease in interest rates to correspond to a $1.4 million increase or decrease in annual interest expense[152] - The company is exposed to foreign currency exchange rate risk due to investments in Canada, funded partially through Canadian dollar borrowings[153] - Unrealized foreign currency gains and losses from Canadian dollar borrowings do not impact cash flows from operations until settled[153] - The company has not engaged in transactions in derivative financial instruments or derivative commodity instruments, except for interest rate swaps[152] - The company believes the foreign currency exchange rate risk on remaining cash flows is immaterial[153] - The company manages interest rate risk by entering into long-term fixed-rate debt and interest rate swaps[150] Accounting Policies and Estimates - There have been no significant changes to critical accounting policies and estimates during the three months ended March 31, 2022[148]

Broadstone Net Lease, Inc. (NYSE:BNL) Q4 2021 Earnings Conference Call February 23, 2022 1:00 PM ET Company Participants Mike Caruso - Senior Vice President of Corporate Finance and Investor Relations Chris Czarnecki - Chief Executive Officer Ryan Albano - Chief Financial Officer John Moragne - Chief Operating Officer Conference Call Participants Caitlin Burrows - Goldman Sachs Ki Bin Kim - Truist Ronald Kamdem - Morgan Stanley Operator Hello, and welcome to the Broadstone Net Lease Fourth Quarter 2021 Earn ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39529 BROADSTONE NET LEASE, INC. (Exact name of registrant as specified in its charter) Maryland 26-1516177 (State ...

Broadstone Net Lease, Inc. (NYSE:BNL) Q3 2021 Earnings Conference Call November 2, 2021 10:00 AM ET Company Participants Chris Czarnecki - Chief Executive Officer Ryan Albano - Chief Financial Officer John Moragne - Chief Operating Officer Mike Caruso - Senior Vice President of Corporate Finance and Investor Relations Conference Call Participants Caitlin Burrows - Goldman Sachs Michael Gorman - BTIG Rosemary Rivera - Morgan Stanley Operator Hello, and welcome to Broadstone Net Lease's Third Quarter 2021 Ear ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.00025 par value BNL The New York Stock Exchange Large accelerated filer ☐ Accelerated filer ☐ FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2021, or ☐ Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 Comm ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.00025 par value BNL The New York Stock Exchange Large accelerated filer ☐ Accelerated filer ☐ FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2021, or ☐ Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 Commissio ...

Broadstone Net Lease, Inc. (NYSE:BNL) Q1 2021 Earnings Conference Call May 5, 2021 1:30 PM ET Company Representatives Chris Czarnecki - Chief Executive Officer Ryan Albano - Chief Financial Officer Mike Caruso - Senior Vice President of Corporate Finance and Investor Relations Conference Call Participants John Kim - BMO Capital Markets Anthony Paolone - J.P. Morgan Caitlin Burrows - Goldman Sachs Chris Lucas - Capital One Michael Gorman - BTIG Ronald Kamdem - Morgan Stanley Operator Hello! And welcome to ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.00025 par value BNL New York Stock Exchange FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2021, or ☐ Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 001-39529 BROADSTONE NET LEASE, INC ...

Broadstone Net Lease, Inc (NYSE:BNL) Q4 2020 Earnings Conference Call February 25, 2021 1:00 PM ET Company Participants Kevin Fennell - Senior Vice President, Capital Markets Chris Czarnecki - Chief Executive Officer Ryan Albano - Chief Financial Officer Conference Call Participants Caitlin Burrows - Goldman Sachs Anthony Paolone - JPMorgan John Kim - BMO Capital Markets Vikram Malhotra - Morgan Stanley Michael Gorman - BTIG Ki Bin Kim - Truist Operator Hello and welcome to Broadstone Net Lease’s Fourth Qua ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 001-39529 BROADSTONE NET LEASE, INC. (Exact name of registrant as specified in its charter) Maryland 26-1516177 (State or ...