LXP Industrial Trust (LXP) Investor presentation summary

Portfolio overview and market positioning

• Owns 108 industrial properties totaling 52.7M square feet, all Class A or modern bulk logistics assets, with 97.1% leased and 47% investment grade tenancy.

• Portfolio concentrated in 12 Sunbelt and Midwest markets with strong population and job growth, representing 87% of holdings.

• Top tenants include Amazon, Nissan, Walmart, and FedEx, with the top 10 tenants accounting for 32% of annual base rent.

• Average building age is 9.9 years, with an average size of 492,308 SF and clear height of 33.5 feet.

• Portfolio benefits from high tenant demand for modern space and low obsolescence risk.

Financial and operational highlights

• Achieved 2.9% same-store NOI growth in 2025 and increased stabilized portfolio occupancy to 97.1%.

• Completed 3.8M SF of new leases/extensions, increasing base rents by ~30%.

• Sold 11 facilities for $389.1M at a 5.7% cap rate and acquired one property for $30M at a 6.5% cap rate.

• Reduced leverage to 4.9x net debt to Adjusted EBITDA and repaid $218M of debt.

• Generated Adjusted Company FFO of $3.15 per share.

Growth drivers and development activity

• ~62% of portfolio leases expire through 2030, with a 16% mark-to-market rent opportunity.

• Average annual rent escalations of 2.8%, with new leases in 2025 averaging 3.2%.

• 1.5M SF of space available for lease and ~1M SF speculative development project to start in 1Q 2026.

• Development program since 2019 totals 9.1M SF, 98% leased or sold, with a 7.1% stabilized cash yield.

• Major Phoenix development site offers future opportunity for 4M SF of industrial or data center space.