☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 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: 001-41812 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Net Lease Office Properties (Exact name of registrant as specified in its charter) Maryland 92-0887849 (State or oth ...

NLOP Investor Presentation February 2026 1 2 3 4 5 6 7 8 11 12 13 14 15 16 NLOP Brand Colors & Order R:101 G:28 B:50 | Hex: #651C32 R:0 G:119 B:73 | Hex: #007749 9 10 R:29 G:66 B:137 | Hex: #1D4289 R:172 G:20 B:90 | Hex: #AC145A R:124 G:125 B:142 | Hex: #7C878E R:51 G:63 B:72 | Hex: #333F48 R:244 G:54 B:76 | Hex: #F4364C R:200 G:16 B:46 | Hex: #C8102E R:0 G:93 B:212 | Hex: #00C1D4 R:67 G:176 B:42 | Hex: #43B02A R:255 G:209 B:0 | Hex: #FFD100 R:242 G:169 B:0 | Hex: #F2A900 R:0 G:193 B:169 | Hex: #0097A9 R:58 ...

Core Viewpoint - Net Lease Office Properties (NYSE: NLOP) has announced the income tax treatment of distributions for the year 2025, advising shareholders to consult their tax advisors for specific guidance on the tax implications of these distributions [1]. Group 1: Distribution Details - The company reported distributions per share for two payment dates: $3.10 on August 18, 2025, and $4.10 on December 4, 2025 [2]. - The distributions include ordinary dividends, capital gain distributions, and nondividend distributions, with the ordinary dividends amounting to $0.00 for both payment dates [2]. - Qualified dividends are included in the taxable ordinary dividends amount, while unrecaptured Section 1250 gain and Section 897 capital gain are included in the taxable capital gain distributions [3]. Group 2: Company Overview - Net Lease Office Properties is a publicly traded real estate investment trust (REIT) that owns a portfolio of high-quality, primarily single-tenant office properties located in the U.S. [5]. - The properties are net leased to corporate tenants operating across various industries, indicating a diversified tenant base [5].

Core Viewpoint - The total return of Net Lease Office Properties (NLOP) has performed well since its spin-off from W.P. Carey (WPC) in November 2023, indicating a positive market reception and potential for continued growth [1]. Group 1 - NLOP has been covered three times since its spin-off, suggesting ongoing interest and analysis in the company's performance [1]. - The article reflects a beneficial long position in NLOP shares, indicating confidence in the company's future performance [1].

Core Viewpoint - Net Lease Office Properties (NYSE: NLOP) announced the sale of three office properties for approximately $130.6 million and declared a special cash distribution of $6.75 per common share, totaling around $100 million, payable on February 17, 2026 [1][2]. Group 1: Financial Highlights - The special cash distribution of $6.75 per share is intended for shareholders of record as of January 30, 2026 [1]. - The total gross proceeds from the sale of the properties amounted to approximately $130.6 million [2]. - The properties sold include KBR, Inc. in Houston, TX for $66 million, Google, LLC in Venice, CA for $39.6 million, and Northrop Grumman Systems Corporation in Plymouth, MN for $25 million [3]. Group 2: Property Details - The total square footage of the sold properties is approximately 1,323,805 square feet [3]. - KBR, Inc. had an annual base rent (ABR) of $21,288,000 at the time of sale [3]. - Google, LLC had an ABR of $3,018,000, while Northrop Grumman Systems Corporation had an ABR of $2,679,000 [3]. Group 3: Company Overview - Net Lease Office Properties is a publicly traded real estate investment trust (REIT) that focuses on high-quality, single-tenant office properties leased to corporate tenants across various industries in the U.S. [4].

Group 1 - Kingdom Capital Advisors achieved a 17.45% return net of fees in 2025, despite facing significant challenges including a bankruptcy and a cyberattack [1] - The composite return for the fourth quarter was 8.88% net of fees, outperforming the Russell 2000 TR (2.19%), S&P 500 TR (2.68%), and NASDAQ 100 TR (2.47%) [1] - The firm focuses on investing in overlooked microcap companies to yield exceptional returns [1] Group 2 - Net Lease Office Properties (NYSE:NLOP) experienced a one-month return of -22.73% and a 52-week loss of 30.75% [2] - As of January 8, 2026, NLOP's stock closed at $20.29 per share, with a market capitalization of $300.578 million [2] - NLOP has declared $12.30 in dividends per share in 2025 and is expected to return another $10 per share in early 2026 [3] Group 3 - NLOP is not among the 30 most popular stocks among hedge funds, although its holdings increased from 11 to 14 hedge fund portfolios [4] - The potential of NLOP as an investment is acknowledged, but certain AI stocks are believed to offer greater upside potential with less downside risk [4]

Core Viewpoint - U.S. stock futures are showing positive movement, particularly with Nasdaq 100 futures increasing by approximately 1% on Friday, while Outlook Therapeutics Inc faces significant stock decline due to FDA's response on its biologics license application [1]. Company Specifics - Outlook Therapeutics Inc (NASDAQ:OTLK) experienced a sharp decline of 60.9%, dropping to $0.62 in pre-market trading after the FDA issued a complete response letter regarding its ONS-5010/LYTENAVA application for treating wet age-related macular degeneration, indicating that the application cannot be approved in its current form [2][1]. - Intelligent Bio Solutions Inc (NASDAQ:INBS) saw a decrease of 19.2%, falling to $7.70 in pre-market trading following the announcement of a $10 million private placement priced at-the-market under Nasdaq rules [3]. - Net Lease Office Properties (NYSE:NLOP) shares dipped by 8.9% to $23.50 in pre-market trading [3]. - Progressive Corp (NYSE:PGR) tumbled by 5.8% to $214.60 in pre-market trading [3]. - Old Republic International Corp (NYSE:ORI) slipped by 4.8% to $43.42 in pre-market trading [3]. - Cango Inc – ADR (NYSE:CANG) fell by 4% to $1.44 in pre-market trading [3]. - Xeris Biopharma Holdings Inc (NASDAQ:XERS) decreased by 3.6% to $7.57 in pre-market trading after a previous gain of over 7% on Wednesday [3]. - Biohaven Ltd (NYSE:BHVN) fell by 2.6% to $11.00 in pre-market trading [3]. - RealReal Inc (NASDAQ:REAL) slipped by 2.3% to $15.41 in pre-market trading [3].

Company Developments - Baidu Inc announced a proposed spinoff and separate listing of the H shares of Kunlunxin (Beijing) Technology Co., Ltd on the Main Board of the Hong Kong Stock Exchange, leading to a 12.3% increase in Baidu's shares to $146.69 in pre-market trading [1] Stock Movements - Eason Technology Ltd surged 47.8% to $2.66 in pre-market trading after a previous decline of 10% [5] - Aimei Health Technology Co Ltd gained 32.8% to $85.01 after falling 22% on Wednesday [5] - Biofrontera Inc rose 28.5% to $0.73 following a dip of over 20% on Wednesday, after announcing the completion of FDA approvals for its products [5] - ChowChow Cloud International HLDG Ltd reported a revenue increase of 81.3% year-over-year to $22.8 million and net income growth of 80% to $1.6 million, resulting in a 26.8% rise in shares to $0.77 [5] - Rubico Inc increased 24.7% to $1.33 after announcing a purchase agreement for a vessel-owning company [5] - Sable Offshore Corp gained 21.4% to $10.96 after a 3% increase on Wednesday [5] - Diginex Ltd rose 17.8% to $4.91 after an 8% decline on Wednesday [5] - Sellas Life Sciences Group Inc gained 8.2% to $4.08 after a 14% increase on Wednesday [5] - X T L Biopharmaceuticals Ltd rose 8.1% to $0.63 after a decline of over 16% on Wednesday [5] Declines - Outlook Therapeutics Inc fell 60.9% to $0.62 after the FDA issued a complete response letter regarding its biologics license application [5] - Moolec Science SA declined 21.5% to $0.20 after receiving a determination letter from Nasdaq regarding stockholders' equity requirements [5] - Intelligent Bio Solutions Inc fell 19.2% to $7.70 following a $10 million private placement announcement [5] - Nocera Inc declined 9.7% to $0.77 in pre-market trading [5] - Nuvve Holding Corp dipped 9.3% to $2.30 after announcing the closing of a private placement [5] - Net Lease Office Properties shares dipped 8.9% to $23.50 [5] - Adlai Nortye Ltd fell 7.6% to $1.31 after a previous decline of around 5% [5] - Semilux International Ltd dipped 7.4% to $0.75 after a 14% increase on Wednesday [5] - Progressive Corp tumbled 5.8% to $214.60 [5] - Huachen AI Parking Mgmt Tech Hldg Co Ltd fell 5.3% to $0.33 after an 8% increase on Wednesday [5]

Core Viewpoint - Net Lease Office Properties (NLOP) announced the sale of six office properties for approximately $75.8 million and declared a special cash distribution of $5.10 per common share, totaling around $75.6 million, payable on January 20, 2026 [1][2]. Group 1: Property Sales - NLOP sold six office properties for gross proceeds of approximately $75.8 million [1]. - The properties sold include: - Securitas Electronic Security, Inc. in Plymouth, MN for $5.654 million, with an annual base rent (ABR) of $1.218 million and a size of 182,250 square feet [2]. - JPMorgan Chase Bank, N.A. in Tampa, FL for $13.650 million, with an ABR of $1.934 million and a size of 135,733 square feet [2]. - A vacant property in Oak Creek, WI for $2.576 million, previously occupied by Master Lock Company, LLC [2]. - Cohesity Inc. in Roseville, MN for $14.625 million, with an ABR of $2.255 million and a size of 136,125 square feet [2]. - Pioneer Credit Recovery, Inc. in Moorestown, NJ for $6.250 million, with an ABR of $0.931 million and a size of 65,567 square feet [2]. - Another JPMorgan Chase Bank, N.A. property in Fort Worth, TX for $33.000 million, with an ABR of $4.850 million and a size of 386,154 square feet [2]. - The total ABR for all properties sold is $11.188 million, with a combined size of 1,026,712 square feet [2]. Group 2: Company Overview - Net Lease Office Properties is a publicly traded real estate investment trust (REIT) that focuses on owning high-quality, primarily single-tenant office properties in the U.S. [3]. - The properties are net leased to corporate tenants across various industries [3].

Core Insights - The article discusses the author's journey from a political career to value investing, emphasizing the importance of risk management and long-term wealth growth [1] Group 1: Career Transition - The author initially pursued a career in politics but shifted to finance after facing challenges in 2019, leading to a focus on making money work for them [1] - From 2020 to 2022, the author worked in a sales role at a law firm, where they became the top-grossing salesman and contributed to sales strategy [1] - The experience gained during this period helped in assessing company prospects based on sales strategies [1] Group 2: Investment Advisory Experience - From 2022 to 2023, the author served as an investment advisory representative with Fidelity, focusing on 401K planning [1] - The author excelled in this role, passing Series exams ahead of schedule, but felt constrained by Fidelity's reliance on modern portfolio theory [1] - After a year, the author decided to leave Fidelity due to the inability to align their value investing approach with the company's strategies [1] Group 3: Current Endeavors - In November 2023, the author began writing for Seeking Alpha, sharing investment opportunities discovered through personal research [1] - The articles serve as a platform for the author to communicate investment strategies and insights to readers [1]