Press Release | September 16, 2020

Broadstone Net Lease, Inc. Announces Pricing of Initial Public Offering

ROCHESTER, N.Y. – Broadstone Net Lease, Inc., an internally-managed real estate investment trust (“BNL”), announced today the pricing of its initial public offering of 33,500,000 shares of its Class A Common Stock at a price to the public of $17.00 per share. The underwriters also have been granted a 30-day option to purchase up to an additional 5,025,000 shares of Class A Common Stock from BNL at the initial public offering price, less underwriting discounts and commissions. The shares of Class A Common Stock are expected to begin trading on September 17, 2020 on the New York Stock Exchange under the ticker symbol “BNL” and the closing of the offering is expected to occur on September 21, 2020, subject to satisfaction of customary closing conditions.

BNL intends to use the net proceeds from its initial public offering to repay borrowings under its unsecured term loan and revolving credit facility, and for general business and working capital purposes, including potential future acquisitions.

J.P. Morgan, Goldman Sachs & Co. LLC, BMO Capital Markets, Morgan Stanley, Capital One Securities and Truist Securities are acting as joint book-running managers for the offering. Regions Securities LLC, BTIG, KeyBanc Capital Markets and Ramirez & Co., Inc. are acting as co-managers for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on September 16, 2020. The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from any of the following sources: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at [email protected]; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at [email protected]; BMO Capital Markets Corp., Attention: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036, or by telephone at (800) 414-3627, or by email at [email protected]; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor New York, NY 10014.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Broadstone Net Lease, Inc.

BNL is an internally-managed REIT 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. BNL utilizes an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting. As of June 30, 2020, BNL’s diversified portfolio consisted of 632 properties in 41 U.S. states and one property in Canada across the industrial, healthcare, restaurant, office, and retail property types, with an aggregate gross asset value of approximately $4.0 billion.

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