NETSTREIT Corp. 10-K

Item 9A. Controls and Procedures Evaluation of Disclosure Controls and Procedures. At the end of the period covered by this report, the Company conducted an evaluation, under the supervision and with the participation of its principal executive officer and principal financial officer, of its disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act). Based on this evaluation, the Company’s principal executive officer and principal financial officer concluded that its disclosure controls and procedures were effective as of December 31, 2025 to ensure that information required to be disclosed by us in reports that the Company files or submits under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in SEC rules and forms. 88 Table of Contents Management’s Annual Report on Internal Control Over Financial Reporting. The management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. Internal control over financial reporting is a process to provide reasonable assurance regarding the reliability of the Company’s financial reporting and the preparation of financial statements for external purposes in accordance with U.S. GAAP. Because of its inherent limitations, internal control over financial reporting is not intended to provide absolute assurance that a misstatement of our financial statements would be prevented or detected. Under the supervision and with the participation of management, including the principal executive officer and principal financial officer, the Company conducted an evaluation of the effectiveness of internal control over financial reporting based on the framework in Internal Control — Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on this evaluation, management has concluded that the Company’s internal control over financial reporting was effective as of December 31, 2025. The effectiveness of the Company’s internal control over financial reporting as of December 31, 2025 has been audited by KPMG LLP, an independent registered public accounting firm, as stated in its report, which is included under Item 8 of this Annual Report on Form 10-K. Changes in Internal Control over Financial Reporting. During the period covered by this report, there were no changes to the Company’s internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) identified in connection with the evaluation described above that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting. Item 9B. Other Information Rule 10b5-1 Trading Arrangements None of our directors or executive officers (as defined in Rule 16a1(f) under the Exchange Act) adopted or t erminated a Rule 10b5-1 trading arrangement or adopted or terminated a non-Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation S-K) during the quarter ended December 31, 2025. Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections Not applicable. PART III Item 10. Directors, Executive Officers and Corporate Governance The information required by this item will be included in the sections entitled “Directors and Management,” “Corporate Governance” and, if required, “Delinquent Section 16(a) Reports” of our definitive Proxy Statement for the 2026 Annual Meeting of Stockholders, to be filed pursuant to Regulation 14A, and is incorporated herein by reference. Our written code of business conduct and ethics, the Code of Business Conduct and Ethics, applies to all of our employees, officers and directors, including our principal executive officer, principal financial officer, principal accounting officer, or controller, or persons performing similar functions. The Code of Business Conduct and Ethics is available on our corporate website at https://www.netstreit.com/ in the Investor Relations section under “Governance – Corporate Policies and Governance Documents.” We intend to promptly disclose on our website or in a Current Report on Form 8-K in the future (i) the date and nature of any amendment (other than technical, administrative or other non-substantive amendments) to the Code of Business Conduct and Ethics that applies to our principal executive officer, principal financial officer, principal accounting officer, or controller, or persons performing similar functions and relates to any element of the code of ethics definition enumerated in Item 406(b) of Regulation S-K and (ii) the nature of any waiver, including an implicit waiver, from a provision of the Code of Business Conduct and Ethics that is granted to one of these specified individuals that relates to one or more of the elements of the code of ethics definition enumerated in Item 406(b) of Regulation S-K, the name of such person who is granted the waiver and the date of the waiver. 89 Table of Contents Item 11. Executive Compensation The information required by this item will be included in the sections entitled “Compensation Discussion and Analysis,” “Executive Compensation,” “Pay Ratio,” “Corporate Governance - Director Compensation,” “Corporate Governance - Other Board Information - Compensation Committee Interlocks and Insider Participation”, and “Compensation Committee Report” of our definitive Proxy Statement for the 2026 Annual Meeting of Stockholders, to be filed pursuant to Regulation 14A, and is incorporated herein by reference. Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters Except as set forth herein, the information required by this item will be included in the section entitled “Corporate Governance - Security Ownership of Certain Beneficial Owners, Directors and Management” of our definitive Proxy Statement for the 2026 Annual Meeting of Stockholders, to be filed pursuant to Regulation 14A, and is incorporated herein by reference. Equity Compensation Plan Information The following table summarizes the equity compensation plan under which our common stock may be issued as of December 31, 2025: Plan Category Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights (a) (2) Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights (b) Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (excluding securities reflected in column (a)) (c) Equity compensation plans approved by security holders (1) 844,776 $ — 2,545,105 Equity compensation plans not approved by security holders — — — Total 844,776 $ — 2,545,105 (1) Relates to restricted stock unit awards (“RSUs”) available for issuance under our Amended and Restated 2019 Omnibus Incentive Plan (the “Omnibus Incentive Plan”). (2) Includes 844,776 shares that employees and non-employee directors have the right to acquire upon the vesting of the equivalent RSUs that they have been awarded under our Omnibus Incentive Plan. Item 13. Certain Relationships and Related Transactions, and Director Independence The information required by this item will be included in the sections entitled “Certain Relationships and Related Party Transactions” and “Corporate Governance - Independence of Directors” of our definitive Proxy Statement for the 2026 Annual Meeting of Stockholders, to be filed pursuant to Regulation 14A, and is incorporated herein by reference. Item 14. Principal Accountant Fees and Services Our independent registered public accounting firm is KPMG LLP , Chicago, Illinois Auditor Firm ID: 185 . The information required by this item will be included in the section entitled “Fees of Independent Accountants” of our definitive Proxy Statement for the 2026 Annual Meeting of Stockholders, to be filed pursuant to Regulation 14A, and is incorporated herein by reference. 90 Table of Contents PART IV Item 15. Exhibit and Financial Statement Schedules 15(a)(1) The following documents are filed as a part of this Annual Report on Form 10-K: Reports of Independent Registered Public Accounting Firm Consolidated Balance Sheets as of December 31, 202 5 and 202 4 Consolidated Statements of Operations and Comprehensive Loss for the Years Ended December 31, 202 5 , 202 4 , and 202 3 Consolidated Statements of Changes in Equity for the Years Ended December 31, 202 5 , 202 4 , and 202 3 Consolidated Statements of Cash Flows for the Years Ended December 31, 202 5 , 202 4 , and 202 3 Notes to the Consolidated Financial Statements 15(a)(2) The following is a list of the financial statement schedules required by Item 8: Schedule III - Real Estate and Accumulated Depreciation Schedule IV - Mortgage Loans on Real Estate 15(a)(3) Exhibits Exhibit No. Description 3.1 Conformed Articles of Amendment and Restatement of NETSTREIT Corp. (incorporated by reference to Exhibit 3.1 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2022). 3.2 Amended and Restated Bylaws of NETSTREIT Corp. (incorporated by reference to Exhibit 3.2 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2022). 4.1 Description of NETSTREIT Corp.’s Securities. (incorporated by reference to Exhibit 4.1 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2020). 4.2 Form of Common Stock Certificate (incorporated by reference to Exhibit 4.1 to the Registrant’s Registration Statement on Form S-11 (File No. 333-23991) filed with the SEC on July 17, 2020. 10.1 Amended and Restated Agreement of Limited Partnership of NETSTREIT, L.P. (incorporated by reference to Exhibit 10.1 to the Registrant’s Registration Statement on Form S-11 (File No. 333-239911) filed on July 17, 2020). 10.2† Form of Indemnification Agreement between NETSTREIT Corp. and each of its directors and executive officers (incorporated by reference to Exhibit 10.4 to the Registrant’s Registration Statement on Form S-11 (File No. 333-239911) filed with the SEC on July 17, 2020). 10.3† Amended and Restated Employment Agreement, dated February 22, 2022, between NETSTREIT Management, LLC and Mark Manheimer (incorporated by reference to Exhibit 10.6 the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2021). 10.4† Employment Agreement, dated March 24, 2023, between NETSTREIT Management, LLC and Daniel P. Donlan (incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed with the SEC on April 3, 2023). 10.5† Amended and Restated NETSTREIT Corp. 2019 Omnibus Incentive Compensation Plan (incorporated by reference to Exhibit 10. 1 to the Registrant’s Q uarterly Report fo r the quarter ended June 30, 2025). 10.6† Form of NETSTREIT Corp. 2019 Omnibus Incentive Compensation Plan Non-Employee Director Restricted Stock Unit Grant Agreement (incorporated by reference to Exhibit 10.10 to Amendment No. 1 to the Registrant’s Registration Statement on Form S-11 (File No. 333-239911) filed with the SEC on August 5, 2020). 10.7† Form of NETSTREIT Corp. 2019 Omnibus Incentive Compensation Plan Employee Restricted Stock Unit Grant Agreement (incorporated by reference to Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022). 10.8† Form of Performance Stock Unit Agreement under the NETSTREIT Corp. 2019 Omnibus Incentive Plan (incorporated by reference to Exhibit 10.21 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2021). 10.9† NETSTREIT Corp. Alignment of Interest Program under the 2019 Omnibus Incentive Compensation Plan (incorporated by reference to Exhibit 10.15 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2020). 91 Table of Contents 10.10† Form of NETSTREIT Corp. 2019 Omnibus Incentive Compensation Plan (Alignment of Interest Program) Restricted Stock Unit Grant Agreement (incorporated by reference to Exhibit 10.2 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022). 10.11 Tax Protection Agreement, dated December 23, 2019, by and among NETSTREIT Corp., NETSTREIT, L.P., Hillview Way, LLC and Mayfield Road Group, LLC (incorporated by reference to Exhibit 10.12 to Amendment No. 1 to the Registrant’s Registration Statement on Form S-11 (File No. 333-239911) filed with the SEC on August 5, 2020). 10.12# Amended and Restated Credit Agreement, dated January 15, 2025, by and among NETSTREIT, L.P., NETSTREIT Corp., the several institutions party thereto, as lenders, and PNC Bank, National Association, as Administrative Agent (incorporated by reference to Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed with the SEC on January 17, 2025). 10.13# First Amendment to Amended and Restated Credit Agreement, dated as of September 25, 2025 , by a nd among NETSTREIT, L.P., NETSTREIT Corp., the several institutions party thereto, as lenders, and PNC Bank, National Associat ion, as Ad ministrative Agent (incorporated by reference to Exhibit 10.3 to the Registrant ’ s Current Report on Form 8-K filed with t he SEC on September 29, 2025). 10.14# Second Amended and Restated Credit Agreement, dated January 15, 2025 , by and among NETSTREIT, L.P., NETSTREIT Corp., the several institutions party thereto, as lenders, and Wells Fargo Bank, National Association, as Administrative Agent (incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K with the SEC on January 17, 2025). 10.15# First Amendment to Second Amended and Restated Credit Agreement, dated as of September 25, 2025, by and among NETSTREIT, L.P., NETSTREIT Corp., the several institutions party thereto, as lenders, and Wells Fargo Bank, National Association, as Administrative Agent (incorporated by reference to Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2025). 10.16# As-Amended Term Loan Agreement, dated June 3, 2023, by and among NETSTREIT, L.P., NETSTREIT Corp., the several institutions party thereto, as lenders, and Truist Bank, as Administrative Agent (reflecting the amendments set forth in the First Amendment to the Term Loan Agreement, dated January 15, 2025) (incorporated by reference to Exhibit 10.3 to the Registrant’s Current Report on Form 8-K with the SEC on January 17, 2025). 19 Insider Trading Policy (incorporated by reference to Exhibit 19 to the Registrant ’ s An n ual Report on Form 10-K for the year ended December 31, 202 4) . 21.1 List of Subsidiaries of NETSTREIT Corp. (incorporated by reference to Exhibit 21.1 to the Registrant’s Registration Statement on Form S-11 (File No. 333-239911) filed with the SEC on July 17, 2020). 23.1* Consent of KPMG LLP. 24.1* Power of Attorney (included on Signature Page). 31.1*** Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 31.2*** Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 32.1*, *** Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 32.2*, *** Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 97† Incentive Compensation Recoupment Policy (incorporated by reference to Exhibit 97 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2023). 101.INS** XBRL Instance Document. 101.SCH** XBRL Taxonomy Extension Schema Document. 101.CAL** XBRL Taxonomy Extension Calculation Linkbase Document. 101.LAB** XBRL Taxonomy Extension Label Linkbase Document. 101.PRE** XBRL Taxonomy Extension Presentation Linkbase Document. 101.DEF** XBRL Taxonomy Extension Definition Linkbase Document. 104** Cover Page Interactive Data File (embedded within the Inline XBRL document) 92 Table of Contents * Filed herewith. ** Submitted electronically with the report. *** Furnished herewith. † Management contract or compensatory plan or arrangement. # Certain of the exhibits and schedules to this exhibit have been omitted in accordance with Regulation S-K Item 601(a)(5). The Registrant agrees to furnish a copy of all omitted exhibits and schedules to the SEC upon its request. The agreements and other documents filed as exhibits to this Annual Report on Form 10-K are not intended to provide factual information or other disclosure other than with respect to the terms of the agreements or other documents themselves, and you should not rely on them for that purpose. In particular, any representations and warranties made by us in these agreements or other documents were made solely within the specific context of the relevant agreement or document and may not describe the actual state of affairs as of the date they were made or at any other time. Item 16. Form 10-K Summary None. SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. NETSTREIT Corp. Signature and Title Date /s/ MARK MANHEIMER Date: February 10, 2026 Mark Manheimer President, Chief Executive Officer, Secretary and Director (Principal Executive Officer) 93 Table of Contents POWER OF ATTORNEY Each person whose signature appears below constitutes and appoints each of Mark Manheimer and Daniel Donlan, acting alone or together with another attorney-in-fact, as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for such person and in his or her name, place and stead, in any and all capacities, to sign any or all amendments to this Annual Report on Form 10-K, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof. Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. /s/ MARK MANHEIMER Date: February 10, 2026 Mark Manheimer President, Chief Executive Officer, Secretary and Director (Principal Executive Officer) /s/ DANIEL DONLAN Date: February 10, 2026 Daniel Donlan Chief Financial Officer and Treasurer (Principal Financial Officer) /s/ SOFIA CHERNYLO Date: February 10, 2026 Sofia Chernylo Senior Vice President and Chief Accounting Officer (Principal Accounting Officer) /s/ LORI WITTMAN Date: February 10, 2026 Lori Wittman Chair of the Board of Directors /s/ MATTHEW TROXELL Date: February 10, 2026 Matthew Troxell Director /s/ TODD MINNIS Date: February 10, 2026 Todd Minnis Director /s/ ROBIN ZEIGLER Date: February 10, 2026 Robin Zeigler Director /s/ HEIDI EVERETT Date: February 10, 2026 Heidi Everett Director /s/ MICHAEL CHRISTODOLOU Date: February 10, 2026 Michael Christodolou Director 94 Table of Contents NETSTREIT Corp. Schedule III - Real Estate and Accumulated Depreciation December 31, 2025 (Dollars in thousands) Initial Cost to Company Cost Capitalized Subsequent to Acquisition (1) Gross Amount as of December 31, 2025 (2), (3) State Number of Properties Encumbrances Land Building and Improvements Land Building and Improvements Land Building and Improvements Total Accumulated Depreciation (3), (4) Year of Construction Year Acquired (5) Life on Which Depreciation in Statements of Operations and Comprehensive Income is Computed Alabama 48 $ — $ 31,045 $ 70,271 $ ( 115 ) $ ( 603 ) $ 30,930 $ 69,668 $ 100,598 $ ( 8,121 ) 1968 – 2025 2019 – 2025 2 to 35 Years Alaska 1 — 1,376 1,584 — — 1,376 1,584 2,960 ( 57 ) 1996 – 1996 2025 – 2025 5 to 34 Years Arizona 7 — 14,245 24,410 — 94 14,245 24,504 38,749 ( 1,959 ) 1979 – 2023 2021 – 2025 5 to 35 Years Arkansas 11 — 7,304 17,079 — 2,417 7,304 19,496 26,800 ( 2,278 ) 1962 – 2024 2019 – 2025 5 to 35 Years California 8 — 17,720 36,550 — 276 17,720 36,826 54,546 ( 5,282 ) 1968 – 2009 2020 – 2025 3 to 35 Years Colorado 5 — 8,423 5,502 — 225 8,423 5,727 14,150 ( 757 ) 1978 – 2024 2019 – 2025 8 to 35 Years Connecticut 4 — 9,577 13,188 — — 9,577 13,188 22,765 ( 981 ) 1972 – 2012 2021 – 2025 4 to 35 Years Florida 16 — 22,766 58,307 — 43 22,766 58,350 81,116 ( 4,734 ) 1948 – 2024 2019 – 2025 4 to 35 Years Georgia 35 — 36,715 95,315 — ( 68 ) 36,715 95,247 131,962 ( 12,789 ) 1968 – 2025 2019 – 2025 0 to 35 Years Idaho 2 — 647 2,915 — — 647 2,915 3,562 ( 269 ) 2007 – 2016 2019 – 2025 7 to 31 Years Illinois 43 — 71,109 134,363 ( 169 ) 191 70,940 134,554 205,494 ( 16,933 ) 1944 – 2024 2020 – 2025 0 to 35 Years Indiana 26 — 28,366 62,562 ( 465 ) ( 642 ) 27,901 61,920 89,821 ( 8,815 ) 1961 – 2025 2019 – 2025 0 to 35 Years Iowa 12 — 6,410 18,340 — 558 6,410 18,898 25,308 ( 3,068 ) 1975 – 2024 2019 – 2025 3 to 35 Years Kansas 6 — 2,413 12,732 — 54 2,413 12,786 15,199 ( 1,648 ) 1973 – 2024 2019 – 2025 3 to 35 Years Kentucky 5 — 12,014 9,542 ( 358 ) ( 1,102 ) 11,656 8,440 20,096 ( 867 ) 1985 – 2024 2020 – 2024 0 to 35 Years Louisiana 17 ( 8,042 ) 21,078 55,695 ( 42 ) ( 202 ) 21,036 55,493 76,529 ( 6,762 ) 1986 – 2024 2020 – 2025 5 to 35 Years Maryland 4 — 3,012 8,504 ( 317 ) ( 935 ) 2,695 7,569 10,264 ( 1,032 ) 1945 – 2016 2020 – 2021 5 to 35 Years Massachusetts 3 — 8,136 970 ( 396 ) ( 364 ) 7,740 606 8,346 ( 28 ) 2002 – 2012 2020 – 2023 0 to 35 Years Michigan 15 — 11,545 41,763 ( 30 ) 77 11,515 41,840 53,355 ( 6,027 ) 1956 – 2024 2019 – 2024 4 to 35 Years Minnesota 9 — 3,784 16,506 — 98 3,784 16,604 20,388 ( 1,778 ) 1981 – 2024 2019 – 2025 4 to 35 Years Mississippi 17 — 14,390 40,554 — 465 14,390 41,019 55,409 ( 8,096 ) 1962 – 2023 2019 – 2025 6 to 35 Years Missouri 13 — 16,130 15,479 — 26 16,130 15,505 31,635 ( 944 ) 1930 – 2025 2019 – 2025 4 to 35 Years Montana 2 — 3,056 14,112 — 244 3,056 14,356 17,412 ( 1,023 ) 2007 – 2024 2023 – 2023 5 to 35 Years Nebraska 4 — 5,303 16,686 — 260 5,303 16,946 22,249 ( 1,546 ) 1990 – 2015 2021 – 2025 5 to 35 Years Nevada 5 — 5,286 11,798 — 55 5,286 11,853 17,139 ( 2,209 ) 1980 – 2014 2022 – 2022 5 to 35 Years New Hampshire 3 — 493 1,289 — 52 493 1,341 1,834 ( 484 ) 1970 – 1984 2020 – 2020 6 to 21 Years New Jersey 6 — 10,048 16,760 ( 376 ) ( 1,290 ) 9,672 15,470 25,142 ( 828 ) 1920 – 2024 2019 – 2025 0 to 35 Years New Mexico 11 — 7,780 14,061 — 442 7,780 14,503 22,283 ( 1,224 ) 1980 – 2024 2021 – 2025 4 to 35 Years New York 38 — 53,260 122,178 ( 506 ) ( 549 ) 52,754 121,629 174,383 ( 14,734 ) 1896 – 2025 2020 – 2025 3 to 35 Years North Carolina 20 — 15,499 31,936 ( 716 ) ( 1,066 ) 14,783 30,870 45,653 ( 5,623 ) 1956 – 2024 2019 – 2025 0 to 35 Years North Dakota 5 — 3,309 9,181 — — 3,309 9,181 12,490 ( 972 ) 2009 – 2024 2020 – 2024 8 to 35 Years Ohio 36 — 20,957 76,901 ( 29 ) 710 20,928 77,611 98,539 ( 11,124 ) 1922 – 2025 2019 – 2025 3 to 35 Years Oklahoma 13 — 7,566 23,703 — 171 7,566 23,874 31,440 ( 1,483 ) 1979 – 2024 2019 – 2025 0 to 35 Years Oregon 2 — 3,991 — — — 3,991 — 3,991 — 2000 – 2003 2023 – 2023 0 to 0 Years Pennsylvania 29 — 23,273 60,715 ( 598 ) ( 102 ) 22,675 60,613 83,288 ( 7,883 ) 1916 – 2025 2019 – 2025 0 to 35 Years South Carolina 15 — 7,879 30,675 — 364 7,879 31,039 38,918 ( 3,248 ) 1967 – 2023 2019 – 2025 2 to 35 Years South Dakota 1 — 848 4,083 — — 848 4,083 4,931 ( 572 ) 2022 – 2022 2021 – 2021 12 to 35 Years Tennessee 7 — 7,682 12,822 ( 90 ) ( 474 ) 7,592 12,348 19,940 ( 1,999 ) 1963 – 2025 2019 – 2025 7 to 35 Years Texas 95 — 185,194 223,856 ( 587 ) ( 810 ) 184,607 223,046 407,653 ( 15,055 ) 1962 – 2025 2019 – 2025 4 to 35 Years Utah 1 — 519 2,609 — 9 519 2,618 3,137 ( 592 ) 2015 – 2015 2019 – 2019 10 to 32 Years Vermont 10 — 1,473 6,181 ( 84 ) 416 1,389 6,597 7,986 ( 1,442 ) 1890 – 1999 2020 – 2022 4 to 31 Years Virginia 15 — 32,265 51,130 — 704 32,265 51,834 84,099 ( 6,845 ) 1978 – 2025 2019 – 2025 3 to 35 Years Washington 3 — 5,659 12,321 — 33 5,659 12,354 18,013 ( 2,790 ) 1978 – 1997 2020 – 2021 6 to 30 Years West Virginia 4 — 1,384 4,402 — 177 1,384 4,579 5,963 ( 996 ) 1996 – 2017 2019 – 2022 4 to 26 Years Wisconsin 23 — 27,139 101,935 ( 773 ) ( 705 ) 26,366 101,230 127,596 ( 12,961 ) 1970 – 2025 2019 – 2025 0 to 35 Years 655 $ ( 8,042 ) $ 778,068 $ 1,591,465 $ ( 5,651 ) $ ( 751 ) $ 772,417 $ 1,590,714 $ 2,363,131 $ ( 188,858 ) (1) Amounts shown as reductions to cost capitalized subsequent to acquisition represent provisions recorded for impairment of real estate. (2) The aggregate cost for federal income tax purposes is $ 2.7 billion (unaudited). (3) Properties with no building value represent a property for which the Company owns only the land, therefore depreciation and estimated life for depreciation are not applicable. (4) Depreciation is calculated using the straight-line method over the estimated useful life of the asset, which is up to 35 years for buildings and up to 15 years for building improvements. (5) The acquisition dates for properties acquired prior to December 23, 2019 are stated at the Company’s Private Offering and formation transactions date of December 23, 2019. 95 Table of Contents The following is a reconciliation of carrying value for land and building and improvements for the periods presented (in thousands): Year Ended December 31, 2025 2024 2023 Balance, beginning of year $ 1,971,665 $ 1,610,705 $ 1,308,230 Additions Acquisitions 556,991 443,481 306,564 Improvements 1,803 4,565 4,098 Property under development completed and placed in service 6,371 50,541 64,711 Reclasses to held for investment 15,425 23,980 — Deductions Reclasses to held for sale ( 169,185 ) ( 133,088 ) ( 66,762 ) Provisions for impairment ( 19,876 ) ( 26,797 ) ( 3,509 ) Involuntary conversion of assets and other adjustments ( 63 ) ( 1,722 ) — Dispositions — — ( 2,627 ) Balance, end of year $ 2,363,131 $ 1,971,665 $ 1,610,705 The following is a reconciliation of accumulated depreciation for the periods presented (in thousands): Year Ended December 31, 2025 2024 2023 Balance, beginning of year $ 143,422 $ 101,210 $ 62,526 Additions Depreciation expense 62,774 54,739 44,104 Deductions Reclasses to held for sale ( 10,491 ) ( 7,011 ) ( 5,154 ) Provisions for impairment ( 6,847 ) ( 5,323 ) ( 63 ) Involuntary conversion of assets and other adjustments — ( 193 ) — Dispositions — — ( 203 ) Balance, end of year $ 188,858 $ 143,422 $ 101,210 See report of independent registered public accounting firm. 96 Table of Contents NETSTREIT Corp. Schedule IV - Mortgage Loans on Real Estate As of December 31, 2025 (Dollars in thousands) Description and Industry Number of Secured Properties State Interest Rate Final Maturity Date Periodic Payment Terms (1) Final Payment Terms Prior Liens Outstanding Face Amount of Mortgages Carrying Amount of Mortgages Principal amount of loans subject to delinquent principal or interest Fully collateralized mortgage loans: Home Improvement 1 Oregon 6.00 % 8/31/2027 I/O Balloon of $ 38.2 million None $ 38,162 $ 38,162 None Convenience Stores 46 North Carolina 9.55 % 3/10/2026 I/O Balloon of $ 41.9 million None 41,940 41,940 None Convenience Stores 3 North Carolina 6.89 % 4/10/2026 I/O Balloon of $ 4.1 million None 4,132 4,117 None Dollar Stores 2 Mississippi 10.09 % 6/10/2026 I/O Balloon of $ 2.2 million None 2,230 2,154 None Discount Retail 1 Wisconsin 7.00 % 1/31/2026 None (2) Interest + Balloon of $ 0.8 million None 825 825 None Dollar Stores 5 Florida 10.25 % 6/5/2026 I/O Balloon of $ 9.4 million None 9,356 9,356 None Automotive Service 1 Tennessee 10.25 % 2/27/2026 I/O Balloon of $ 1.7 million None 1,703 1,703 None Dollar Stores 1 Pennsylvania 7.25 % 9/19/2027 P+I Balloon of $ 1.4 million None 1,411 1,411 None Drug Stores & Pharmacies 1 Texas 7.00 % 9/30/2029 I/O Balloon of $ 0.6 million None 636 636 None Convenience Stores 1 California 6.50 % 12/23/2029 I/O Balloon of $ 3.3 million None 3,284 3,284 None Convenience Stores 1 California 6.50 % 12/23/2029 I/O Balloon of $ 4.1 million None 4,105 4,105 None Quick Service Restaurants 1 Kentucky 10.25 % 1/24/2026 I/O Balloon of $ 2.0 million None 1,964 1,964 None Quick Service Restaurants 1 Tennessee 10.25 % 2/7/2026 I/O Balloon of $ 2.2 million None 2,216 2,216 None Quick Service Restaurants 1 Indiana 9.75 % 3/12/2026 I/O Balloon of $ 1.8 million None 1,829 1,829 None Quick Service Restaurants 1 Indiana 9.75 % 3/28/2026 None (2) Interest + Balloon of $ 1.7 million None 1,718 1,718 None Quick Service Restaurants 1 Ohio 9.75 % 4/8/2026 None (2) Interest + Balloon of $ 1.8 million None 1,820 1,820 None Quick Service Restaurants 1 Kentucky 9.75 % 4/16/2026 None (2) Interest + Balloon of $ 1.6 million None 1,647 1,647 None Quick Service Restaurants 1 Florida 9.75 % 8/19/2026 None (2) Interest + Balloon of $ 2.0 million None 1,984 1,984 None Quick Service Restaurants 1 Florida 9.75 % 8/27/2026 None (2) Interest + Balloon of $ 2.1 million None 2,088 2,088 None Quick Service Restaurants 1 Kentucky 9.75 % 9/9/2026 None (2) Interest + Balloon of $ 1.7 million None 1,724 1,724 None Drug Stores & Pharmacies 1 Virginia 7.25 % 5/18/2027 I/O Balloon of $ 6.1 million None 6,050 6,050 None Quick Service Restaurants 1 Kentucky 9.75 % 10/16/2026 None (2) Interest + Balloon of $ 2.1 million None 2,095 2,095 None Quick Service Restaurants 1 Indiana 9.75 % 10/22/2026 None (2) Interest + Balloon of $ 1.4 million None 1,427 1,427 None Quick Service Restaurants 1 Indiana 9.75 % 10/24/2026 None (2) Interest + Balloon of $ 1.6 million None 1,551 1,551 None Quick Service Restaurants 1 Alabama 9.75 % 10/30/2026 None (2) Interest + Balloon of $ 1.5 million None 1,474 1,474 None Quick Service Restaurants 1 Georgia 9.75 % 1/1/2027 None (2) Interest + Balloon of $ 1.9 million None 1,872 1,872 None Quick Service Restaurants 1 Kentucky 9.75 % 1/8/2027 None (2) Interest + Balloon of $ 1.0 million None 1,020 1,020 None Quick Service Restaurants 1 Tennessee 9.75 % 1/30/2027 None (2) Interest + Balloon of $ 1.2 million None 1,224 1,224 None Quick Service Restaurants 1 South Carolina 9.75 % 12/5/2026 I/O Balloon of $ 1.1 million None 1,068 1,068 None $ 142,555 $ 142,464 (1) I/O: Interest Only; P+I: Principal and Interest. (2) Payments of both interest and principal are due at maturity. 97 Table of Contents The following table shows changes in carrying amounts of mortgage loans receivable, net for the periods presented (in thousands): Year Ended December 31, 2025 2024 2023 Balance, beginning of year $ 139,409 $ 114,472 $ 46,378 Additions: New mortgage loans receivable 37,597 29,722 72,399 Other: Increase in mortgage loans receivable in exchange for disposition of real estate 8,450 20,101 1,970 Other: Increase in existing mortgage loans receivable in exchange for settlement of existing mortgage loan — — 1,327 Capitalized loan origination costs and fees 168 ( 45 ) 145 Discount on new mortgage loans receivable ( 340 ) ( 334 ) ( 155 ) Amortization of discount 193 302 39 Deductions: Collections of principal ( 31,251 ) ( 24,870 ) ( 1,482 ) Other: Reclassification to held for sale ( 10,480 ) — — Other: Mortgage loans receivable settled in exchange for acquisition of real estate — — ( 4,673 ) Other: Mortgage loans receivable settled in refinancing of existing mortgage loans receivable — — ( 1,327 ) Other: Provisions for impairment on mortgage loans receivable ( 1,122 ) — — Amortization of loan origination costs and fees ( 160 ) 61 ( 149 ) Balance, end of year $ 142,464 $ 139,409 $ 114,472 See report of independent registered public accounting firm. 98