POWER OF ATTORNEY
Know all by these presents, that the undersigned hereby constitutes and appoints each of John Raney,
Sandra Sciutto and Reginald Salanga, the undersigned's true and lawful attorney-in-fact to:
(1) prepare, execute in the undersigned's name and on the undersigned's behalf, and submit to
the U.S. Securities and Exchange Commission (the "SEC") a Form ID, including
amendments thereto, and any other documents necessary or appropriate to obtain codes and
passwords enabling the undersigned to make electronic filings with the SEC of reports
required by Section 16(a) of the Securities and Exchange Act of 1934 or any rule or
regulations of the SEC;
(2) execute for and on behalf of the undersigned, in the undersigned's capacity as an officer
and/or director of Modiv Inc. (the "Company"), Forms 3, 4, and 5, and amendments thereto,
in accordance with Section 16(a) of the Securities Exchange Act of 1934 and the rules
thereunder, and any other forms or reports the undersigned may be required to file in
connection with the undersigned's ownership, acquisition, or disposition of securities of the
(3) do and perform any and all acts for and on behalf of the undersigned which may be necessary
or desirable to complete and execute any such Form ID and Form 3, 4, or 5, or other form or
report, or amendment thereto, and timely file such form with the SEC and any stock
exchange, self-regulatory association or similar authority; and
(4) take any other action of any type whatsoever in connection with the foregoing which, in the
opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally
required by, the undersigned, it being understood that the documents executed by such
attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in
such form and shall contain such terms and conditions as such attorney-in-fact may approve
in such attorney-in-fact's discretion.
The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform
any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of
the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or
could do if personally present, with full power of substitution or revocation, hereby ratifying and
confirming all that such attorney-in-fact, or such attorney-in-fact's substitute or substitutes, shall lawfully
do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The
undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request
of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned's
responsibilities to comply with Section 16 of the Securities Exchange Act of 1934.
The validity of this Power of Attorney shall not be affected in any manner by reason of the execution, at
any time, of other powers of attorney by the undersigned in favor of persons other than those named
This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to
file Forms 3, 4, and 5 with respect to the undersigned's holdings of and transactions in securities issued
by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing
attorneys-in-fact. This Power of Attorney may be filed with the SEC as a confirming statement of the
authority granted herein.
IN WITNESS WHEREOF, I have hereunto set my hand this 13th day of April, 2022.
/s/ THOMAS H. NOLAN JR.
Name: THOMAS H. NOLAN JR.