PAUL BAYER

Mr. Bayer served as Executive Vice President of National Retail Properties (NYSE: NNN) from January 2007 to June 2010 and as Chief Investment Officer from June 2010 to December 2020. He also previously served as Senior Vice President of NNN from September 2005 to December 2006. From September 1999 through September 2005, he served as Vice President of Leasing at NNN. Prior to September 1999, Mr. Bayer was a leasing agent at J. Donegan Company from 1994 through 1999. Mr. Bayer also previously served as a leasing agent for Combined Properties from 1992 until 1993 and as a marketing principal at Trammell Crow Company from 1988 until 1991. He is a member of ICSC.