Material Agreement, Financial Obligation (Form 8-K)

Item 1.01 Entry into a Material Definitive Agreement.

On October 7, 2026, FNLR OP LP, as borrower (the "Operating Partnership") exercised its second extension option (the "Extension") under its Credit Agreement, dated as of August 13, 2024 (the "Credit Agreement"), by and among the Operating Partnership, certain subsidiaries of the Operating Partnership party thereto, Fortress Net Lease REIT (the "Parent"), certain subsidiaries of the Parent party thereto, the lenders from time to time party thereto, the L/C issuers from time to time party thereto, and Bank of America, N.A., as administrative agent. Pursuant to the Extension, the maturity date of the term loan facility and revolving credit facility under the Credit Agreement was extended from October 16, 2026 to October 15, 2027.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference herein.