Leading Proxy Advisory Firms Support Blackwells’ Case for Board Change at Global Net Lease, Inc. and The Necessity Retail REIT, Inc.

NEW YORK–(BUSINESS WIRE)–Blackwells Capital LLC (together with its affiliates, “Blackwells” or “we”) today announced that Glass, Lewis & Co LLC (“Glass Lewis”), a leading independent proxy advisory firm, has endorsed its case for boardroom change at Global Net Lease, Inc. (NYSE: GNL) (“GNL” or “the Company”) and The Necessity Retail REIT, Inc. (NYSE: RTL) (“RTL” or “the Company”).

In supporting Blackwells’ case for change, Glass Lewis has recommended that stockholders vote on the WHITE universal proxy card to elect both of its highly qualified and independent candidates – Jim Lozier and Richard O’Toole – to GNL and RTL’s Board of Directors (the “Boards”).

Glass Lewis’ recommendation follows Institutional Shareholder Services, Inc. (“ISS”) recommendation to withhold support from GNL and RTL’s incumbent director candidates. In its report, ISS highlighted that the unilateral bylaw amendment contrived by the directors of GNL and RTL to disenfranchise shareholders and deny them the opportunity to vote for Blackwells’ nominees was contrived and nothing more than an entrenchment tactic among highlighting other numerous governance deficiencies.