Portfolio Highlights - LXP Industrial Trust's stabilized industrial portfolio is 993% leased[7] - The weighted-average lease term for the warehouse/distribution portfolio is 67 years[15] - Investment-grade tenancy accounts for 593% of the Annual Base Rent (ABR) for consolidated properties[15] - The average age of the warehouse/distribution portfolio is 89 years[15] - The top 25 markets represent 768% of the portfolio[15] - Net Operating Income (NOI) for the warehouse/distribution portfolio is $1096 million for the six-month period[15] - Same-store NOI growth is 55% year-to-date[15] Financial Performance and Strategy - The company acquired a warehouse/distribution facility for approximately $59 million, bringing year-to-date purchases to $131 million[5] - The company disposed of approximately $55 million of non-core assets at a weighted-average capitalization rate of 62%[6] - Leverage is at 68x net debt to Adjusted EBITDA[8] - The company repurchased approximately 79 million common shares year-to-date at an average price of $1127 per share[9]

Portfolio Transformation and Strategy - LXP Industrial Trust has successfully transformed its portfolio to focus on warehouse/distribution assets, representing 98% of the portfolio in Q1 2022, compared to 48% in 2015[14] - The company's strategy focuses on single-tenant, well-located, Class A warehouse/distribution assets in the Sunbelt and lower Midwest regions[18] - LXP aims to grow cash flow through investment activity, contractual annual rental escalations, and market rent growth, targeting an attractive dividend yield relative to fixed-income alternatives[18] Investment and Disposition Activities - LXP acquired approximately $72 million of warehouse/distribution assets with a weighted-average GAAP capitalization rate of 4.9% and a cash capitalization rate of 4.5%[5] - The company invested around $69 million in five ongoing development projects during the quarter[5] - Subsequent to the quarter's end, LXP disposed of approximately $55 million in non-core assets, with the majority of remaining office assets being marketed for sale[6] Portfolio Performance and Balance Sheet - The stabilized portfolio was 99.4% leased[7] - LXP achieved a 27.7% increase in industrial Base rents and an 18.1% increase in Cash Base rents on new/extended leases during the quarter, with an average annual rental escalator of 3.3%[7] - The company's leverage stood at 6.3x net debt to Adjusted EBITDA, with a target range of 6-7x as the development portfolio stabilizes[8] - LXP's debt has a weighted-average interest rate of 2.85% and a weighted-average term of 7.3 years[8] ESG and Corporate Responsibility - LXP's ESG+R program is aligned with established frameworks like INREV, GRESB, GRI, and UNPRI[4, 96, 105] - The company achieved the first-place ranking for industrial listed companies in the U S in the first GRESB Assessment[96] - LXP has set environmental targets, including a 25% reduction in GHG emissions and energy consumption over 10 years, and a 15% reduction in water consumption over 10 years[101]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2022. or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _________________ to ________________ Commission File Number 1-12386 LXP INDUSTRIAL TRUST (Exact name of registrant as specified in its charter) (State or ot ...

LXP Industrial Trust (NYSE:LXP) Q1 2022 Earnings Conference Call May 5, 2022 8:30 AM ET Company Participants Heather Gentry - Senior Vice President, Investor Relations Will Eglin - Chairman & Chief Executive Officer Brendan Mullinix - Chief Investment Officer James Dudley - Executive Vice President Beth Boulerice - Chief Financial Officer Conference Call Participants Sheila McGrath - Evercore Jamie Feldman - Bank of America Jon Petersen - Jefferies Operator Good day, and thank you for standing by. Welcome ...

I N V E S T O R P R E S E N T A T I O N FO URTH QUART ER 202 1 LXP INDUSTRIAL TRUST Disclosure This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve known and unknown risks, uncertainties or other factors not under LXP Industrial Trust's ("LXP") control which may cause actual results, performance or achievements of LXP to be materially differe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to ________________ Commission File Number 1-12386 LXP INDUSTRIAL TRUST (Exact name of registrant as specified in its charter) (State or other ju ...

LXP Industrial Trust (NYSE:LXP) Q4 2021 Earnings Conference Call February 24, 2022 8:30 AM ET Company Participants Heather Gentry – Senior Vice President, Investor Relations Will Eglin – Chairman and Chief Executive Officer Brendan Mullinix – Chief Investment Officer Beth Boulerice – Chief Financial Officer Conference Call Participants Craig Mailman – KeyBanc Capital Markets John Massocca – Landenburg Thalmann Jon Petersen – Jefferies Heather Gentry Thank you, operator. Welcome to LXP Industrial Trust’s Fou ...

Leasing and Property Management - In Q3 2021, Lexington Realty Trust entered into new leases and lease extensions covering 2.6 million square feet, with average fixed rent increasing from $4.78 to $5.07 per square foot[130]. - The company disposed of three consolidated properties for a total gross disposition price of $35.4 million and ten properties for an aggregate gross disposition price of $218.8 million during the nine months ended September 30, 2021[131][136]. - Lexington Realty Trust acquired five industrial properties for a total cost of $134.8 million and invested $57.1 million in six consolidated development projects[134]. - As of September 30, 2021, the company had six consolidated development projects in process with an estimated total cost of $484.0 million, with remaining funding obligations of approximately $291.5 million[136]. - Same-store net operating income (NOI) for the nine months ended September 30, 2021, was $165.9 million, a 0.7% increase from $164.8 million in the same period of 2020[171]. - The company’s same-store square footage leased was 98.7% as of September 30, 2021, down from 99.8% in the same period of 2020, indicating a slight decrease in occupancy[171]. Financial Performance - Cash flows from operations increased to $167.4 million for the nine months ended September 30, 2021, compared to $152.5 million for the same period in 2020[140]. - Total gross revenues increased by $10.4 million for the nine months ended September 30, 2021, primarily due to a $13.4 million increase in termination income, offset by a $2.3 million decrease in rental revenue[162]. - The company reported a net income attributable to common shareholders of $122.3 million for the nine months ended September 30, 2021, compared to $81.2 million for the same period in 2020, indicating a significant increase of 50.8%[174]. - Net income attributable to common shareholders for Q3 2021 was $5.028 million, a decrease of 87.5% from $40.285 million in Q3 2020[178]. - Funds from Operations (FFO) available to common shareholders and unitholders for Q3 2021 was $38.668 million, down 44.5% from $69.741 million in Q3 2020[178]. - Adjusted Company FFO available to all equityholders and unitholders for Q3 2021 was $53.564 million, compared to $53.839 million in Q3 2020, reflecting a slight decrease of 0.5%[178]. Debt and Financing - The company issued $400.0 million of 2.375% Senior Notes due 2031 and repurchased $188.8 million of 4.25% Senior Notes due 2023[134]. - The company incurred a debt satisfaction loss of $12.9 million related to the redemption of the 2023 Senior Notes during the three months ended September 30, 2021[153]. - The company reported a weighted-average interest rate of 1.4% for variable-rate indebtedness in Q3 2021, down from 2.0% in Q3 2020[183]. - Total fixed-rate debt as of September 30, 2021, was $1.4 billion, representing 91.6% of the aggregate principal consolidated indebtedness[183]. - The company had $129.1 million in variable-rate indebtedness not subject to interest rate swaps, accounting for 8.4% of total indebtedness as of September 30, 2021[183]. - The company guaranteed obligations for certain non-consolidated entities with respect to $395.2 million of non-recourse debt, with a low likelihood of payment[180]. - The fair value of fixed-rate indebtedness was estimated at $1.4 billion as of September 30, 2021, reflecting the interest rate environment at that time[184]. - The company had four interest rate swap agreements in place as of September 30, 2021, to manage interest rate risk[185]. Cash and Dividends - At September 30, 2021, cash on hand was $150.1 million, and the company had a borrowing capacity of $600.0 million under its unsecured revolving credit facility[139]. - The company generated net proceeds of $13.9 million from the issuance of 1.1 million common shares under its At-the-Market offering program[134]. - Dividends paid to common and preferred shareholders were $95.9 million for the nine months ended September 30, 2021, compared to $88.0 million for the same period in 2020, reflecting an increase of approximately 2.1%[148]. - The company declared a quarterly dividend of $0.1075 per common share for the three months ended September 30, 2021, up from $0.105 per common share in the same period of 2020, representing a 1.9% increase[149].

Financial Data and Key Metrics Changes - The company reported adjusted company FFO of approximately $54 million or $0.19 per diluted common share for Q3 2021, with an increase in the guidance range for adjusted company FFO to $0.75 to $0.78 per diluted common share [34] - Revenues for the quarter were approximately $83 million, with property operating expenses just over $11 million, and G&A expenses of $8.4 million [35] - The company's balance sheet remains solid, with net debt to adjusted EBITDA of 5.4 times at quarter-end and unencumbered NOI at 91.5% [37] Business Line Data and Key Metrics Changes - The company has transformed its portfolio to 95% industrial assets, significantly increasing its focus on single-tenant industrial REITs [9] - The stabilized lease portfolio increased by 110 basis points to 98.9%, with base and cash base industrial rents on extensions and new leases increasing by 6.5% and 4.7%, respectively [12] - Average rent per square foot in the warehouse distribution portfolio is $3.97, which is viewed as 6% to 8% below market [13] Market Data and Key Metrics Changes - The industrial sector is experiencing strong leasing demand and rental growth, with vacancy rates at an all-time low and rental rates continuing to rise [11] - Rents in target markets have grown on average approximately 8% over the last year, indicating a robust market environment [13] Company Strategy and Development Direction - The company is focused on speculative development and the purchase of non-stabilized properties as a principal investment strategy [18] - The Board announced an 11.6% increase in the quarterly common share dividend, reflecting confidence in market rent growth and future rent increases [21] - The company aims to fully exit its office portfolio by 2022, with ongoing sales of non-industrial properties [82] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the transformation of the company into a predominantly single-tenant industrial REIT, which has created a stronger portfolio and enhanced shareholder value [23] - The company anticipates continued strong rent growth in its markets, with a significant window of lease rollover expected between 2024 and 2027 [58] Other Important Information - The company earned first place ranking for U.S. industrial listed companies in the 2021 GRESB assessment, highlighting its commitment to ESG initiatives [22] - The company has a sizeable pipeline under review for acquisitions, with $135 million of Class A warehouse distribution product acquired during the quarter [19] Q&A Session Summary Question: Update on shareholder letter from Land and Buildings - Management indicated that discussions with shareholders were fruitful and highlighted the value created through the company's transformation [44] Question: Cash same-store NOI for the industrial portfolio - Management clarified that the reported same-store NOI is on a cash basis, with a 1.2% increase attributed to a vacant property affecting the overall figure [49] Question: Financial advisor engagement - Management stated they are well-advised in various aspects of the business but did not provide further commentary on hiring a financial advisor [55] Question: Market monitoring for excess supply - Management noted that while there are high supply markets, demand continues to absorb new construction, indicating a balanced supply-demand dynamic [67] Question: Yield benefits from development structure - Management indicated that the spread between stabilized post-promote development yields and purchases is in the 100 to 150 basis point range, providing a good opportunity for value capture [68] Question: Update on office portfolio and 1701 Market Street - Management expects to launch a full marketing effort for 1701 Market Street in early 2022, aiming for a successful outcome as the market improves [82]

00C 1 | 日 LEXIN REALTY TRUST Investor Presentation First Quarter 2021 Disclosure This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve known and unknown risks, uncertainties or other factors not under Lexington Realty Trust's ("Lexington" or "LXP") control which may cause actual results, performance or achievements of Lexington to be materiall ...