NECESSITY RETAIL REIT DIRECTORS EXPRESS CONFIDENCE IN RTL WITH SHARE PURCHASES

Rhea-AI Summary

The Necessity Retail REIT (Nasdaq: RTL) announced that its independent directors purchased a total of 158,470 shares of RTL common stock, reflecting confidence in the company's long-term value. Lead Independent Director Lisa Kabnick emphasized the importance of real estate leased to necessity-based retail tenants and cited the agreement to acquire 79 shopping centers, of which 54 are already closed. The total shares owned by directors now stands at 402,848. This move signals a strong belief in RTL's future amidst ongoing market challenges.

Positive

• Independent directors purchased 158,470 shares of RTL stock, indicating strong confidence in the company's prospects.
• Agreement to acquire 79 shopping centers, showing strategic growth.

Negative

• Market conditions and capital availability may hinder future property acquisitions.
• Ongoing global COVID-19 pandemic poses risks to RTL's operations and tenant performance.

NEW YORK, March 2, 2022 /PRNewswire/ -- The Necessity Retail REIT, Inc. (Nasdaq: RTL) ("RTL" or the "Company") announced today that certain of the Company's independent directors recently personally purchased an aggregate of 158,470 shares of RTL Common stock. 

"My fellow independent board members and I are strong believers in the long-term value of real estate leased to necessity-based retail tenants," said Lisa Kabnick, Lead Independent Director. "We believe the recently announced agreement to acquire 79 open-air shopping centers, 54 of which have already closed, and our completed corporate rebranding, illustrate our commitment to this sector. Our stock purchases demonstrate the depth of our confidence in the Company's future."

The table below details the shares acquired by each independent board member.

Independent Board Member	Shares Purchased	Total Shares Owned
Lisa Kabnick	143,470	323,648
Stanley Perla	15,000	79,200
Total	158,470	402,848

About The Necessity Retail REIT Where America Shops
The Necessity Retail REIT (Nasdaq: RTL) is a publicly traded real estate investment trust listed on Nasdaq focused on acquiring and managing a diversified portfolio of primarily service-oriented and traditional retail and distribution related commercial real estate properties in the U.S. Additional information about RTL can be found on its website at www.necessityretailreit.com.

Important Notice
The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results or events to be materially different. The words "anticipates," "believes," "expects," "estimates," "projects," "plans," "intends," "may," "will," "seek," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company's control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the potential adverse effects of the ongoing global COVID-19 pandemic, including actions taken to contain or treat COVID-19, on the Company, the Company's tenants, the assets under contract to be acquired including their respective tenants and the global economy and financial markets and that any potential future acquisition of property is subject to market conditions and capital availability and may not be identified or completed on favorable terms, or at all, as well as those risks and uncertainties set forth in the Risk Factors section of the Company's Annual Report on Form 10-K for the year ended December 31, 2021 filed on February 24, 2022 and all other filings with the SEC after that date as such risks, uncertainties and other important factors may be updated from time to time in the Company's subsequent reports including in particular the Company's Current Report on Form 8-K dated December 20, 2021 and describing additional facts and risk factors relating to the transaction described in this release. In particular, the transactions described in this release are subject to closing conditions, including conditions that are outside of the Company's control, and the transactions described in this release may not be completed on the contemplated terms, or at all, or they may be delayed. The Company may not be able to obtain financing to acquire the remaining properties. Forward looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results, unless required to do so by law. 

Contacts:
Investor Relations
ir@rtlreit.com
(866) 902-0063 

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SOURCE The Necessity Retail REIT, Inc.

FAQ

What is the significance of the recent share purchases by RTL independent directors?

The share purchases, totaling 158,470 shares, demonstrate the independent directors' confidence in the long-term value of RTL.

How many shopping centers has RTL agreed to acquire?

RTL has agreed to acquire 79 open-air shopping centers, of which 54 have already closed.

What are the potential risks mentioned in RTL's press release?

The press release highlights risks related to market conditions, capital availability for future acquisitions, and the ongoing effects of the COVID-19 pandemic.

What is the current total number of shares owned by RTL's independent directors?

After the recent purchases, the total shares owned by RTL's independent directors is 402,848.

When was the RTL press release issued?

The press release was issued on March 2, 2022.