<SEC-DOCUMENT>0001144204-19-025019.txt : 20190510
<SEC-HEADER>0001144204-19-025019.hdr.sgml : 20190510
<ACCEPTANCE-DATETIME>20190509195128
ACCESSION NUMBER:		0001144204-19-025019
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190509
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190510
DATE AS OF CHANGE:		20190509

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Global Net Lease, Inc.
		CENTRAL INDEX KEY:			0001526113
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				452771978
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37390
		FILM NUMBER:		19812445

	BUSINESS ADDRESS:	
		STREET 1:		405 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-415-6500

	MAIL ADDRESS:	
		STREET 1:		405 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	American Realty Capital Global Trust, Inc.
		DATE OF NAME CHANGE:	20120810

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	American Realty Capital Global Daily Net Asset Value Trust, Inc.
		DATE OF NAME CHANGE:	20111014

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	American Realty Capital Global Trust, Inc.
		DATE OF NAME CHANGE:	20110719
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tv521052_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
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     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WASHINGTON, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PURSUANT TO SECTION 13 OR 15(d) OF THE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
<B>&nbsp;May 9, 2019</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 16pt"><B>Global
Net Lease, Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Maryland</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 36%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>001-37390</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 30%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>45-2771978</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4pt 0pt 0; text-align: center">(State or other jurisdiction</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4pt 0pt 0; text-align: center">of incorporation)</P></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4pt 0pt 0; text-align: center">(I.R.S. Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4pt 0pt 0; text-align: center">Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 100%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>405 Park Avenue, 3<SUP>rd</SUP> Floor</B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>New York, New York 10022</B></FONT></TD></TR>
<TR>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4pt 0pt 0; text-align: center">(Address, including zip code, of
        Principal Executive Offices)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4pt 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4pt 0pt 0; text-align: center"><B>Registrant&rsquo;s telephone
        number, including area code: (212) 415-6500</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 0.8pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 95%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.9pt 0pt 0; color: #231F20">Indicate by check mark whether the
registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or
Rule 12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><FONT STYLE="font-family: Times New Roman, Times, Serif">Emerging
growth company </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 32.3pt 0pt 0; color: #231F20">If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 32.3pt 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD COLSPAN="5"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities registered pursuant to section 12(b) of the Act:</FONT></TD></TR>
<TR>
    <TD COLSPAN="5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 28%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title of each class</FONT></TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 37%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trading Symbols</FONT></TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 29%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name of each exchange on which registered</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common Stock, $0.01 par value</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">GNL</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York Stock Exchange</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.25% Series A Cumulative Redeemable Preferred Stock, $0.01 par value</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">GNL PR A</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York Stock Exchange</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 32.3pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 32.3pt 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 32.3pt 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 32.3pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 7.01. Regulation FD Disclosure.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Earnings Call Script</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 9, 2019, Global Net Lease, Inc.
(the &ldquo;Company&rdquo;) hosted a conference call to discuss its financial and operating results for the first quarter ended
March 31, 2019. A transcript of the pre-recorded portion of the conference call is furnished as Exhibit&nbsp;99.1 to this Current
Report on Form 8-K. As previously disclosed, a replay of the entire conference call is available through August 9, 2019 by telephone
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Domestic Dial-In (Toll Free): 1-877-344-7529</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">International Dial-In: 1-412-317-0088</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Canada Dial-In (Toll Free): 1-855-669-9658</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Conference Number: 10130772</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information set forth in Item 7.01
of this Current Report on Form 8-K and in the attached Exhibit 99.1 is deemed to be &ldquo;furnished&rdquo; and shall not be deemed
to be &ldquo;filed&rdquo; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;),
or otherwise subject to the liabilities of that Section. The information set forth in Item 7.01 of this Current Report on Form
8-K, including Exhibit 99.1, shall not be deemed incorporated by reference into any filing under the Exchange Act or the Securities
Act of 1933, as amended, regardless of any general incorporation language in such filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The statements in this Current Report on
Form 8-K include statements regarding the intent, belief or current expectations of the Company and members of its management team,
as well as the assumptions on which such statements are based, and generally are identified by the use of words such as &ldquo;may,&rdquo;
&ldquo;will,&rdquo; &ldquo;seeks,&rdquo; &ldquo;strives,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;believes,&rdquo; &ldquo;estimates,&rdquo;
&ldquo;expects,&rdquo; &ldquo;plans,&rdquo; &ldquo;intends,&rdquo; &ldquo;should&rdquo; or similar expressions. Actual results
may differ materially from those contemplated by such forward-looking statements, including as a result of those factors set forth
in the Risk Factors section of the Company&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2018 filed on February
28, 2019 and all other filings with the Securities and Exchange Commission after that date. Forward-looking statements speak only
as of the date they are made, and the Company undertakes no obligation to update or revise forward-looking statements to reflect
changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, or revise forward-looking
unless required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 9.01. Financial Statements and
Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>(d) Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 13%; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit No</B></FONT></TD>
    <TD STYLE="width: 1%; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="width: 86%; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 2pt; padding-left: 3pt"><A HREF="tv521052_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify"><A HREF="tv521052_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transcript</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 0.8pt; font-size: 10pt"><B>Global
Net Lease, Inc.</B></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: May 9, 2019</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:&nbsp;&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 1.8pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ James L. Nelson&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 7%; padding-right: 0.8pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 27%; padding-right: 0.8pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James L. Nelson</FONT></TD>
    <TD STYLE="width: 14%; padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD></TR>
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    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Chief Executive Officer and President</I></FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD></TR>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><B>Global Net Lease, Inc. (NYSE: GNL) Q1 2019 Earnings Conference Call</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Executives</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">James Nelson &ndash; CEO &amp; President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chris Masterson &ndash; CFO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Louisa Quarto &ndash; Executive Vice President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Operator</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Good morning and welcome to the Global Net Lease First Quarter
Earnings Call. [Operator Instructions]. I would now like to turn the conference over to Louisa Quarto, Executive Vice President.
Please go ahead.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Louisa Quarto</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Thank you, operator. Good morning everyone
and thank you for joining us for GNL's first quarter 2019 Earnings Call. This call is being webcast in the Investor Relations section
of GNL's website at www.globalnetlease.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Joining me today on the call to discuss
the quarter&rsquo;s results are Jim Nelson, Chief Executive Officer and Chris Masterson, Chief Financial Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following information contains forward-looking
statements, which are subject to risks and uncertainties. Should one or more of these risks or uncertainties materialize, actual
results may differ materially from those expressed or implied by the forward-looking statements. We refer all of you to our SEC
filings including the Annual Report on Form 10-K for the year ended December 31, 2018 filed on February 28, 2019 and all other
filings with the SEC after that date for a more detailed discussion of the risk factors that could cause these differences.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any forward-looking statements or portfolio
information provided during this conference call are only made as of the date of this call. As stated in our SEC filings, GNL disclaims
any intent or obligation to update or revise these forward-looking statements or portfolio information except as required by law.
During today's call, we will discuss non-GAAP financial measures, which we believe can be useful in evaluating the company's financial
performance. These measures should not be considered in isolation or as a substitute for our financial results prepared in accordance
with GAAP. A reconciliation of GAAP net income to the non-GAAP measures can be found in our earnings release, supplement and Form
10-Q, all of which are posted to our website at www.globalnetlease.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I will now turn the call over to our CEO,
Jim Nelson.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>James Nelson</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Thanks, Louisa, and good morning everyone.
Thank you all for joining us on today's call.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are pleased to report a great start
to 2019 as we delivered strong results across key performance metrics including increases in rental revenue and adjusted EBITDA.
The portfolio continues to grow with $185.3 million of closed and pipeline acquisitions this year with ample capacity to complete
additional transactions as attractive opportunities are identified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the quarter we strengthened GNL's
high quality net lease U.S. and Western European portfolio through acquisitions, capital market initiatives and the refinancing
of certain European properties at attractive rates. The quarter's results also reflect the full benefit of the $212 million in
acquisitions GNL closed late in the fourth quarter of 2018. Total rental income for the first quarter was $70.1 million, up 9.9%
from $63.8 million in the first quarter of 2018. AFFO also increased in the first quarter to $39.5 million, up 12.6% from the $35.1
million first quarter 2018 figure. AFFO per share decreased to $0.48 per common diluted share from $0.52 per share in the first
quarter 2018, primarily due to the increase in share count from the $153 million of gross common equity issuances we completed
in the first quarter. The real estate acquisitions we have closed so far in the 2nd quarter 2019 and those in our current acquisition
pipeline will be funded primarily from the equity proceeds we raised and will resolve the natural timing difference we saw this
quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Overall, our 343 global, net lease property
portfolio is 99.5% leased, up from 327 properties at the same time in 2018. 274 of these properties are in the U.S. and 69 are
in the U.K. and Western Europe, representing 55.8% and 44.2% of annualized rental revenue, respectively. Our investment grade or
implied investment grade tenants make up 75.7% of the portfolio. Please refer to our earnings release for more information about
what we consider to be implied investment grade tenants. Our property mix is currently 53% office, 39% industrial and distribution
and 8% retail and the portfolio has a weighted average remaining lease term of 8.1 years with no near-term expirations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">GNL is uniquely positioned to take advantage
of market conditions in the U.S. and Europe. With offices in the U.S., London and Luxemburg, our access to deal flow from long-standing
partnerships with developers and tenants allows us to evaluate and close transactions in an efficient and accretive manner. Our
ability to complete transactions is strengthened by our long-standing relationships with a broad set of banks and lenders in both
the U.S. and Europe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have a healthy balance of U.S. and Western
Europe assets and for the past couple of years have found the best opportunities to be primarily in the U.S. While that view has
not changed, we are also beginning to see some investing opportunities in Europe as well. Our strategy for investing in European
assets has been intentionally focused on acquiring office and industrial properties leased to strong corporate tenants and only
in those countries with the highest sovereign debt ratings Over our history, GNL has leveraged this deliberate focus to take advantage
of the opportunities we&rsquo;ve seen in the six European countries where we own assets. In fact, we see other U.S. REITs now expanding
to invest in the U.K. as further validation of the value European real estate can bring to a portfolio. We are continuing to monitor
and explore potential European acquisitions and believe the current market may provide attractive opportunities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the quarter we acquired two net
leased assets totaling approximately 117,000 square feet for a contract sales price of approximately $23.5 million and funded $11.4
million of capital expenditures to expand and remodel four properties that are leased to a single tenant, in exchange for increased
annual rent at the respective properties. These assets are leased at a weighted average capitalization rate of 7.7%, with a weighted
average remaining lease term of 9.3 years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The industrial property we acquired during
the quarter is a 36,720 square foot facility located in Gillette, WY leased to Cummins, Inc. a fortune 500 company that specializes
in the design and manufacture of automobile engines and related equipment and has an investment grade credit rating of &quot;A+&quot;
and &quot;A2&quot; from S&amp;P and Moody's respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The office property we acquired during
the quarter is an 80,000 square foot headquarters office property located in Fishers, IN which is leased to Stanley Convergent
Security Solutions, a division and wholly owned subsidiary of Stanley Black &amp; Decker, which designs, supplies and installs
commercial electronic security systems and provides electronic security services. Stanley Black &amp; Decker, the parent of the
tenant but not guarantor, has an investment grade credit rating of &ldquo;A&rdquo; and &ldquo;Baa1&rdquo; from S&amp;P and Moody&rsquo;s,
respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">GNL funded the transactions with cash on
hand, which includes proceeds raised in January from our at-the market program. Consistent with our overall strategy, these assets
serve a critical function for the underlying tenants, are under long-term leases with embedded contractual rent growth and are
property types that we like in our portfolio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We also sold one property during the quarter
for gross proceeds of $9.5 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subsequent to quarter end, we closed on
three properties for a contract sales price of $41.9 million at a weighted average capitalization rate of 7.5% with a weighted
average remaining lease term of 9.9 years. Including our $108.6 million pipeline, GNL has closed or identified $185.3 million of
investment opportunities year-to-date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our $108.6 million pipeline reflects the
anticipated acquisition of eight net lease industrial and distribution properties to be acquired for an aggregate purchase price
of $96.1 million at a weighted-average cap rate of 8.5%, and a weighted-average remaining lease term of 11.7 years plus our scheduled
funding of $12.5 million in capital expenditures to expand an industrial property located in Houston, TX in exchange for increased
annual rent. The properties in the pipeline also contain embedded contractual rent growth with average annual rent increases of
1.7% per year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">While Chris will provide more detail, I'll
provide a quick update on our continuing ability to refinance GNL's European debt at attractive rates. During the quarter, we refinanced
the five properties we own in Finland for an aggregate &euro;74.0 million with Nordea Bank ABP at a 1.7% interest rate, lowering
our borrowing cost on these assets by 60 basis points. &euro;57.4 million of the loan proceeds were used to repay all outstanding
indebtedness on the properties and the balance after costs was available for general corporate purposes, including additional real
estate acquisitions. Earlier this month we entered into a definitive agreement pursuant to which we shortly expect to complete
a &euro;51.5 million refinancing of all of our German assets with the exception of the Innogy Tower in Essen with Helaba Bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are working to complete the balance
of our European refinancings with The Netherlands, Luxembourg, and French properties remaining.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">With that, I'll turn the call over to Chris
to walk through the operating results in more detail and then I will follow up with some closing remarks. Chris?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Chris Masterson</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Thanks, Jim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This morning we announced first quarter
revenue of $75.5 million, up 10.8% over the first quarter 2018 figure, FFO of $36.2 million, up 13.6%, core FFO of $36.5 million,
up 10.2% and AFFO of $39.5 million, up 12.6%. During the quarter, we paid common stock dividends of $43.3 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As Jim mentioned our strong first quarter
results reflect the effect of a full quarter of results from the $212 million in acquisitions we closed towards the end of the
fourth quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On our balance sheet, we ended the first
quarter with net debt, which is debt less cash and cash equivalents, of $1.6 billion at a weighted-average interest rate of 3.0%
per annum. Our weighted-average debt maturity has lengthened to 4.2 years at the end of the first quarter, an improvement from
3.6 years at the close of the 2018 first quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The components of GNL&rsquo;s debt include
$260.4 million on the multi-currency revolving credit facility, $273.4 million on the term loan and $1.1 billion of outstanding
gross mortgage debt. This debt was approximately 83.7% fixed rate, which is inclusive of floating rate debt with in-place interest
rate swaps, an improvement over the quarter ended December 31, 2018 where 79.9% was fixed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our net debt to annualized adjusted EBITDA
improved to 6.9x, with a strong interest coverage ratio of 4.3x.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2019, liquidity was approximately
$244.4 million which comprises $95.3 million of cash on hand and $149.2 million of availability under the credit facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">GNL's net debt to enterprise value was
47.8%, with an enterprise value of $3.3 billion based on the March 29, 2019 closing share price of $18.90 for common shares and
$25.67 for Series A preferred shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the quarter we sold 7,759,322 shares
of Common Stock through our ATM Program for gross proceeds of $152.8 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Following these sales, which represented
the final amounts available for sale under the initial distribution agreement for our Common Stock ATM Program, we entered into
a new equity distribution agreement to continue the ATM Program to raise additional aggregate sales proceeds of up to $250.0 million.
We did not sell any shares during the quarter under the new agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Let me now turn to the European side of
our capital structure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In February GNL entered into a syndicated
investment facility loan agreement with Nordea Bank ABP and borrowed an aggregate &euro;74.0 million. The loan is secured by all
five Finnish properties owned by GNL. The maturity date of the loan is February 1, 2024, and it bears interest at a rate of 3-month
Euribor plus 1.4% with the interest rate for &euro;59.2 million, or eighty percent of the principal amount of the loan, fixed at
1.8% by an interest rate swap agreement. This loan is interest only with principal due at maturity. This refinancing significantly
lowered the borrowing cost from 2.3% to 1.7% per annum. At the closing of the loan, &euro;57.4 million was used to repay all outstanding
indebtedness encumbering the properties, with the remaining proceeds, after costs and fees related to the loan, available for working
capital and general corporate purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Later in May we also expect to complete
a &euro;51.5 million refinancing of all of our German assets with the exception of the Innogy Tower in Essen with Helaba Bank.
The loan proceeds will be used to repay all outstanding indebtedness on the properties and the balance after costs will be available
for general corporate purposes, including additional real estate acquisitions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a quick update to GNL&rsquo;s hedging
program, we have continued to use our hedging strategy as a way to offset some movements in interest rates and local currencies
for our European portfolio. In regards to currency hedging, the company employs a disciplined strategy of layering hedges against
the two currencies over upcoming quarters to manage some exposure to both currencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Finally, with respect to GNL&rsquo;s dividend,
we paid dividends equating to $0.5325 per common share in the quarter. Subsequent to quarter-end, on April 8<SUP>th</SUP>, we announced
that we will be aligning our dividend policy more closely with our peers and start paying a quarterly dividend at the end of the
second quarter. This change in no way affected the annualized dividend rate on the common stock of $2.13 per share or the previously
announced dividend declaration with respect to the month of March.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">With that, I'll turn the call back to Jim
for some closing remarks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>James Nelson</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Thanks, Chris.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">GNL continues to perform well on all fronts.
This quarter we delivered strong results across important metrics such as revenue, adjusted EBITDA, FFO, Core FFO and AFFO. The
portfolio and the rental income it provides continue to grow. We are well positioned with available capital to close on our already
identified $108.6 million of upcoming acquisitions and have ample dry powder to complete additional transactions as opportunities
are identified. We continue to demonstrate a proven ability to source investment opportunities by leveraging direct relationships
with landlords and developers to identify off-market transactions, allowing us to achieve what we believe are better-than-market
capitalization rates at more favorable terms than are generally available, generating improved results for the Company and our
shareholders. Finally, as Chris just discussed, during the first quarter, GNL&rsquo;s ability to negotiate favorable financing
in local markets contributes meaningfully to the bottom line.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are pleased with the quarterly results
and will remain proactive and disciplined in our acquisition strategy to identify compelling opportunities to acquire net lease
assets, with a continued near-term focus on U.S. industrial and distribution facilities. We will also remain opportunistic when
it comes to selectively adding to our international footprint.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We will continue our efforts to deliver
steady growth and enhance long-term value for our shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">With that, operator, we can open the line
for questions.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Question-and-Answer Session</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



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