National Retail Properties Inc.

Craig Macnab joined National Retail Properties as Chief Executive Officer in February 2004, sharpening the company's investment focus on net-leased retail properties. He guided the company's 2005 acquisition of National Properties Corporation, a publicly traded company with a portfolio of high quality single-tenant properties. In 2008, he was appointed to the additional post of Chairman of the Board of Directors. Prior to joining NNN, Mr. Macnab was Chief Executive Officer of JDN Realty from April 2000 to 2003, where he initiated and led the restructuring of the company including successfully refinancing its credit facilities, settling its class action litigation, and altering its business strategy to include becoming a grocery-anchored developer. JDN was acquired by Developers Diversified Realty. Previously, Mr. Macnab was President of Tandem Capital, a private investment company that he founded in January 1997. Tandem Capital provided growth capital, primarily mezzanine debt, to small public companies and was acquired by Finova Capital in 1999. Mr. Macnab's prior experience includes having been an investment banker for seven years at Lazard Freres and Company in New York and six years at JC Bradford where he was co-head of the merger and acquisition department. Mr. Macnab serves on the Board of Directors of Per-Se Technologies, the leader in connective healthcare, and Developers Diversified Realty, the nation's leading owner of market-dominant community centers. He has a B.Com from the University of Witwatersrand and an MBA from Drexel University.

Julian E. (Jay) Whitehurst, President and Chief Operating Officer, oversees the day-to-day operation of the company including NNN’s acquisitions, dispositions, development, property management, underwriting, structured finance, portfolio development, corporate communications, human resources, and legal departments. He joined the company as Executive Vice President and General Counsel in February 2003, was appointed Chief Operating Officer in June 2004 and President in May 2006. Mr. Whitehurst is a graduate of The Ohio University (B.A., summa cum laude, 1979, Phi Beta Kappa) and Duke University School of Law (J.D., 1982). He is a member of the International Council of Shopping Centers (ICSC) and the National Association of Real Estate Investment Trusts (NAREIT). He is an active member of the First United Methodist Church of Orlando and a member of the Long-Range Planning Committee for Lake Highland Preparatory School.

Executive Vice President, Chief Financial Officer and Treasurer Kevin B. Habicht, executive vice president, chief financial officer and treasurer, oversees all capital, financial reporting and corporate communication matters. Mr. Habicht joined National Retail Properties, Inc., as vice president in July 1992. He was appointed executive vice president, chief financial officer and assistant secretary in December 1993. Mr. Habicht was named secretary and treasurer in 1996. He was elected to the Board of Directors in 2000. Previously, Mr. Habicht worked at the accounting firm of Coopers and Lybrand. He is a graduate of the University of Denver (BSA, magna cum laude, 1981). Mr. Habicht is a Certified Public Accountant (CPA) and a Chartered Financial Analyst (CFA). He is a member of the International Council of Shopping Centers (ICSC), the National Association of Real Estate Investment Trusts (NAREIT), the Association for Investment Management and Research (AIMR), the American Institute of Certified Public Accountants (AICPA) and the Florida Institute of Certified Public Accountants (FICPA).

Christopher P. Tessitore, Executive Vice President and General Counsel, oversees all legal matters involving NNN and its subsidiaries. He joined the company as Senior Vice President and Assistant General Counsel in March 2005 and was appointed General Counsel in February 2006 and Executive Vice President in January 2007. Previously, Mr. Tessitore had been the company’s lead outside counsel as a partner at the law firm of Lowndes, Drosdick, Doster, Kantor & Reed, P.A., where he specialized in commercial real estate acquisition and development. Mr. Tessitore is a graduate of the University of Notre Dame, and received his J.D., cum laude, Order of the Coif, from the University of Florida College of Law. Mr. Tessitore is av-rated by Martindale-Hubbell. He is a member of the International Council of Shopping Centers (ICSC) and the National Association of Real Estate Investment Trusts (NAREIT). He is active in the Orlando community serving on the Board of Directors and Executive Committee of BETA Center, Inc. and previously served on the Board of the Notre Dame Club of Orlando.

Mr. Bayer, who joined NNN in March of 1999, oversees the leasing, asset management, due diligence and underwriting groups. He was promoted to Executive Vice President in January 2007. Mr. Bayer has a broad real estate background including prior positions with Trammell Crow Company, Combined Properties and J. Donegan Company. He graduated from Dartmouth College and was awarded a leadership fellowship by Rutgers University Graduate School of Management. He is a member of the International Council of Shopping Centers (ICSC) and earned the designation of Certified Leasing Specialist from the ICSC.

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Mr. Gershenson is President and Chief Executive Officer and serves as Chairman of the Board of Trustees for Ramco-Gershenson Properties Trust. Mr. Gershenson has held the position of President and CEO since May 1996. Prior to that he served as Vice President - Finance and Treasurer of Ramco-Gershenson, Inc. from 1976 to 1996. Mr. Gershenson currently serves on the Board of Directors of Hospice of Michigan, the Cranbrook Academy of Arts, the Metropolitan Affairs Coalition and Oakland Family Services. He is also an active member of the International Council of Shopping Centers (ICSC) and the National Association of Real Estate Investment Trusts (NAREIT).

Mr. DeFosset has served on the Board of Directors for National Retail Properties since December 2008. Mr. DeFosset also currently serves on the boards of Regions Financial Corporation, a financial holding company; EnPro Industries, Inc., a producer of industrial products; and Terex Corporation, a manufacturing firm. Mr. DeFosset retired in September 2005 as Chairman, President and Chief Executive Officer of Walter Industries, Inc., a diversified company with principal operating businesses in homebuilding and home financing, water transmission products and energy services. Mr. DeFosset is a graduate of Purdue University, where he earned a Bachelor’s degree in Industrial Engineering. He received his MBA from Harvard Business School in 1974.

Former Governer Martinez has served as a director of the Company since 2002. Gov. Martinez is a Senior Policy Advisor with Holland & Knight's Securities and Public Companies practice. From 1999 to 2007, he served as managing director for Carlton Fields Government Consulting. From 1997 to 2001, Gov. Martinez also served as director of PRINEX Technologies, a manufacturer of ordinances and aerospace products for the United Stated Department of Defense and commercial enterprises. Career highlights include serving in the following positions: Cabinet-level office as the nation's second Drug Czar under President George H.W. Bush from 1991-1993, Governor of Florida from 1987-1991 and Mayor of the City of Tampa from 1979-1986. Gov. Martinez is Trustee Emeritus of the University of Tampa, Director of the Hillsborough Education Foundation, Honorary Member of the Florida Council of 100, Honorary Director of the Florida Council on Economic Education, Director and Executive Committee Member of the Tampa's Lowry Park Zoological Society, Director and Chairman of the Development Committee of the Tampa Bay History Center, Director of the Harmony Institute, Director Emeritus of The Collins Center, member of the Rotary Club of Tampa, Director of the Greater Tampa Chamber of Commerce and member of The Moffitt Cancer Center & Research Institute Board of Advisors. Gov. Martinez is a native of Tampa and earned his B.S. in Education in 1957 from the University of Tampa. He received his master's degree in labor and industrial relations in 1964 from the University of Illinois.

Mr. Lanier has served as a director of the Company since 1988. Mr. Lanier was the Chief Executive Officer of the Triangle Bank and Trust Company, Raleigh, North Carolina (“Triangle”), from January 1988 until March 1991. Mr. Lanier also was the Chairman of Triangle from January 1989 until March 1991 and its President from January 1988 until January 1989. Since his retirement in 1991 as Chairman and Chief Executive Officer of Triangle, Mr. Lanier has managed his personal investments and managed investment accounts for various individuals and trusts.