Rexford Industrial Realty, Inc. · NYSE:REXR
Rexford Industrial Realty — Investor Presentation (March 2026)
21 slides from Rexford Industrial Realty's investor presentation, March 2026
Slide 1: Rexford Industrial Realty March 2026 Investor Presentation
NYSE: REXR Rexford Industrial Realty March 2026 Investor Presentation 14434-14527 San Pedro Street, South Bay 58K SF Repositioning 2390-2442 North American|Way, 100% Leased North inCounty Orange 4Q25
Slide 2: Forward Looking Statements
22 Forward Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. We caution investors that any forward-looking statements presented herein are based on management’s beliefs & assumptions & information cu
Slide 3: REXR at a glance
33 REXR NYSE 100% 51M Prime Infill Square Feet Southern California 419 Industrial Properties $13B Entity Value1 4.4x Net Debt/Adjusted EBITDAre 2 BBB+ S&P3 BBB+ Fitch3 Baa2 Moody’s3 12118 Bloomfield Avenue, Mid-Counties 107K SF Development | 100% Leased in 4Q25
Slide 4: Key Messages
4 Key Messages Reformed Capital Allocation Strategy New leadership established rigorous framework ensuring capital deployed to highest risk- adjusted returns Accretive Capital Recycling Executing strategic dispositions to fund opportunistic share repurchases at significant discount to intrinsic valu
Slide 5: Strategic Realignment of Leadership Team & Board
5 Strategic Realignment of Leadership Team & Board Laura Clark, Incoming CEO • 25 years of real estate & public REIT experience • Current COO & prior CFO at Rexford Board of Directors Transitions • Laura Clark appointed to Board, effective November 2025 • David Stockert appointed to Board as indepen
Slide 6: Immediate Strategic Priorities
6 Immediate Strategic Priorities Execute a disciplined, return-driven strategy focused on portfolio optimization & operational rigor Dispositions Capital Recycling Operations — Capture premium valuation — Recycle into superior risk- — Reduce G&A as a % of revenue — Reduce development adjusted return
Slide 7: Advancing Strategic Priorities
7 Advancing Strategic Priorities 2026 Goals Progress YTD $41M closed YTD; $185M under contract or $400M – $500M Dispositions dispositions accepted offer1, including $120M of projects that were in the near-term development pipeline $400M – $500M $100M of shares repurchased at a weighted Capital Recyc
Slide 8: Improving Operating Efficiency
8 Improving Operating Efficiency Projected 2026 G&A In Line With Peer Average1 Enhanced Executive Compensation to Align With 11.1% 10.8% Shareholders 10.2% 9.4% Long-term incentive metrics 8.8% REXR G&A as a % of Revenue — 100% based on relative total 7.9% shareholder return 6.0% — Removed FFO/sh gr
Slide 9: Market Fundamentals Indicate Bottom Forming
9 Market Fundamentals Indicate Bottom Forming 1 Market net absorption remains negative while However, infill SoCal market rent decline is tapering & market vacancy has continued to rise new supply under construction is near historic lows Market Net Absorption as a % of Total Stock Infill SoCal Vacan
Slide 10: Compelling Entry Point for Rexford
10 Compelling Entry Point for Rexford REXR Multiple +92% Correlated With Market Rent Change1 Indexed from 1Q23-4Q25 Why Buy REXR Now? REXR FFO Multiple % Change Infill SoCal Market Rent % Change 0% 0% — Infill SoCal market rent decline slowing sequentially, suggesting early signs bottom of cycle is
Slide 11: Low Leverage & Substantial Liquidity
11 Low Leverage & Substantial Liquidity Maturity Ladder $1.4B 100% ($ millions) Total Liquidity1 Fixed Rate Debt $1,019 4.4x 97% $800 Net Debt/Adjusted Unsecured Debt $600 EBITDAre2 $401 $314 BBB+ S&P 3 3.3 years $67 $75 BBB+ Fitch $0 $0 $3 Weighted Average 3 Debt Duration 2026 2027 2028 2029 2030 2
Slide 12: 2026 Guidance Outlook
a = 5.aNE NV ANVANV ANTS, S eee oa, 2026 Guidance Outlook
Slide 13: 2026 Guidance Expectations
13 2026 Guidance Expectations 1 Low High Earnings Company share of Core FFO per diluted share $2.35 $2.40 Same Property Portfolio 2 Same Property Portfolio NOI Growth - Net Effective (2.5%) (1.5%) Same Property Portfolio NOI Growth - Cash (2.0%) (1.0%) Average Same Property Portfolio Occupancy (Full
Slide 14: 2026 Guidance Rollforward
14 2026 Guidance Rollforward 1 Earnings Components Range Notes ($ per share) 2025 Core FFO per Diluted Share $2.40 2025 Actual Same Property Guidance range of (2.5%) – (1.5%) driven by: • Net effective releasing spreads 5% – 10% • Bad debt as a percentage of revenue 75 bps Same Property Portfolio NO
Slide 15: 1Q26 Strategic Lease Renewal — Tireco
15 1Q26 Strategic Lease Renewal — Tireco — Strategic early renewal of largest tenant (1.1M SF) with 1/2027 expiration, representing ~$20 million of annual revenue — Prioritized occupancy to preserve cash flow, avoiding downtime & capital spend — 3-year renewal (1/2029 expiration); gross lease; 2.75%
Slide 16: Appendix
16 Appendix Endnotes Non-GAAP Reconciliations Definitions
Slide 17: Endnotes
17 Endnotes SLIDE 3 1. Calculated as the market value of fully diluted common shares (including common shares outstanding, SLIDE 11 Operating Partnership units, unvested shares of restricted stock, vested & unvested LTIP units & 1. Total liquidity reflects ending cash balance of approximately $166 m
Slide 18: Non-GAAP Reconciliations
18 Non-GAAP Reconciliations Net Operating Income ($ in ‘000s) Quarter Ended 12/31/2025 Quarter Ended 12/31/2024 Net (Loss) Income $(67,735) $64,910 General & administrative 19,199 21,940 Depreciation & amortization 76,819 71,832 Other expenses 65,910 34 Interest expense 25,451 28,173 Management and
Slide 19: Funds from Operations and EBITDAre
19 Funds from Operations ($ in ‘000s, except per share data) Quarter Ended Quarter Ended 12/31/2025 12/31/2024 Net (Loss) Income $(67,735) $64,910 Depreciation & amortization 76,819 71,832 Impairment of real estate 89,097 — EBITDAre and Adjusted EBITDAre ($ in ‘000s) Gains on sale of real estate (19
Slide 20: Definitions
20 Definitions Cash NOI: Cash NOI is a non-GAAP measure, which we calculate by adding or subtracting from NOI (i) fair value lease revenue supplemental measure of our operating performance as a real estate company because it is a direct measure of the actual and (ii) straight-line rent adjustment. W
Slide 21: www.rexfordindustrial.com
www.rexfordindustrial.com
Rexford Industrial Realty — Investor Presentation (March 2026) on 6ix