Broadstone Net Lease, Inc. Announces $150 Million Stock Repurchase Authorization

Broadstone Net Lease, Inc. (NYSE: BNL) (“BNL” or the “Company”) announced today that its Board of Directors has authorized the repurchase of up to $150 million of its outstanding common stock under a stock repurchase program (the “Program”). The authorization will expire on March 14, 2024.

The stock may be repurchased from time to time in the open market (including trading plans that may be adopted in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended), block purchases, privately negotiated transactions, or other means in accordance with federal securities laws and other legal requirements. Whether such purchases under the Program are made will depend on the Company’s evaluation of economic and market conditions, the Company’s stock price, applicable legal requirements, and other factors. The Program may be suspended or discontinued at any time at the Company’s sole discretion.

About Broadstone Net Lease, Inc.

BNL is a real estate investment trust that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. The Company utilizes an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting. As of December 31, 2022, BNL’s diversified portfolio consisted of 804 individual net leased commercial properties with 797 properties located in 44 U.S. states and seven properties located in four Canadian provinces across the industrial, healthcare, restaurant, retail, and office property types.

Regulation FD Disclosures

We use any of the following to comply with our disclosure obligations under Regulation FD: SEC filings, press releases, public conference calls, or our website. We routinely post important information on our website at www.broadstone.com, including information that may be deemed material. We encourage our stockholders and others interested in our company to monitor these distribution channels for material disclosures.

Cautionary Statements Concerning Forward-Looking Statements

This press release contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding the Company’s expectations with respect to repurchases of common stock, including the timing and manner of any purchases under the Company’s Stock Repurchase Program. Such forward-looking statements can generally be identified by the Company’s use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “intend,” “anticipate,” “estimate,” “would be,” “believe,” “continue,” or other similar words. Forward-looking statements, including the Company’s objectives, expectations, and intentions with respect to the Stock Repurchase Program, involve known and unknown risks and uncertainties, which may cause BNL’s actual future plans and results to differ materially from those expressed or implied in forward-looking statements, including, without limitation, risks and uncertainties related to changes in the market price of the common stock, general market conditions, access to credit or debt capital markets, applicable securities laws, and alternative uses of capital. These and other risks, assumptions, and uncertainties are described in Item 1A “Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the SEC on February 23, 2023, which you are encouraged to read and is available on the SEC’s website at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The Company assumes no obligation to, and does not currently intend to, update any forward-looking statements after the date of this press release, whether as a result of new information, future events, changes in assumptions, or otherwise.

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