Lxp Industrial Trust · NYSE:LXP
Lxp Industrial Trust — Q1 2026 Earnings Presentation
26 slides from Lxp Industrial Trust's earnings presentation, Apr 29, 2026
Slide 1: Investor Presentation First Quarter 2026
INVESTOR PRESENTATION FIRST QUARTER 2026
Slide 2: Forward-Looking Statements and Other Disclosure
LXP INDUSTRIAL TRUST Forward-Looking Statements and Other 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. Forward-looking statemen
Slide 3: LXP Industrial Trust Overview
LXP INDUSTRIAL TRUST LXP Industrial Trust Overview LXP Columbus Market 108 52.7M NYSE Properties Square Feet >30 Yrs 100% 47% Industrial Investment Grade Publicly Traded Real Estate Tenancy $4.7B 87% 93% Gross Assets 12 Target Markets1 Class A Properties2 Ratings4 5.5% Baa2 BBB BBB- Dividend Yield3
Slide 4: First Quarter Highlights
LXP INDUSTRIAL TRUST First Quarter Highlights Investment Activity and Leasing Subsequent Events − Commenced ~1.2M SF speculative development project in Phoenix − Completed ~1.4M SF of new second-generation leases and extensions, increasing Cash Base Rents − Extended lease at ~1.1M SF facility in Gre
Slide 5: Business Plan Focused on Delivering Value
LXP INDUSTRIAL TRUST Business Plan Focused on Delivering Value Pure-play industrial REIT 93% of portfolio concentrated in new, Class A bulk distribution real estate with an average age of ~10 years1 Investment strategy focused on 12 markets in the Sunbelt and lower Midwest with population and job gr
Slide 6: Warehouse/Distribution Pure-Play Portfolio
LXP INDUSTRIAL TRUST Warehouse/Distribution Pure-Play Portfolio High-quality, Class A bulk logistics portfolio with modern specs and strong internal growth profile Portfolio Metrics Internal Growth Profile − 108 Properties − 2.0% 1Q Same-Store NOI Growth 7% − 52.7M SF − ~16% Current Mark-to-Market (
Slide 7: High Credit Quality Tenants Across Diverse Range of Industries
LXP INDUSTRIAL TRUST High Credit Quality Tenants Across Diverse Range of Industries Top 10 Tenants Tenants1 % of SF2 % of ABR Amazon 6.7% 6.5% Nissan 5.8% 4.9% Black and Decker 4.5% 3.6% Walmart 4.6% 3.3% GXO Logistics 3.0% 2.7% Watco 0.3% 2.4% FedEx 0.6% 2.3% Olam 2.4% 2.2% DHL 2.1% 2.2% Owens Corn
Slide 8: Focused on 12 Markets in Sunbelt and Lower Midwest
LXPINDUSTRIAL LXP INDUSTRIALTRUST TRUST Focused on 12 Markets in Sunbelt and Lower Midwest LXP Target Market Characteristics − Business friendly government policies − Strong population and job growth − Direct access to rail, port and airport infrastructure − Attracting advanced manufacturing onshori
Slide 9: Attractive Market Fundamentals in LXP's Target Markets
LXP INDUSTRIAL TRUST Attractive Market Fundamentals in LXP’s Target Markets LXP’s 12 Target Markets include ten of the top 15 markets by net absorption, with the under-construction pipeline 66% below the 2022 peak Quarterly Net Absorption in LXP’s 12 Target Markets (SF) Net Absorption as a % of Top
Slide 10: Favorable Demographics in LXP's Target Markets
LXPINDUSTRIAL LXP INDUSTRIALTRUST TRUST Favorable Demographics in LXP’s Target Markets − Population and employment growth in LXP’s 12 target markets has been 2.3x and 1.6x higher than the national average, respectively, reflecting1: o Business friendly policies attracting investment and creating job
Slide 11: LXP is Well-Positioned for Reshoring of Manufacturing
LXPINDUSTRIAL LXP INDUSTRIALTRUST TRUST LXP is Well-Positioned for Reshoring of Manufacturing “The ongoing trend of companies shifting locations of their manufacturing operations is emerging as the second great industrial market disruptor of the 21st century, following the rise of e-commerce” - Newm
Slide 12: Reshoring Investment Focused in LXP's 12 Target Markets
LXPINDUSTRIAL LXP INDUSTRIALTRUST TRUST Reshoring Investment Focused in LXP’s 12 Target Markets LXP market selection criteria aligned with attributes attracting major manufacturing investment $300B planned investment in LXP’s 12 target markets in the Sunbelt and Midwest1 Key Criteria for Site Select
Slide 13: Case Study: Phoenix TSMC Investment
LXP INDUSTRIAL TRUST Case Study: Phoenix TSMC Investment “The largest foreign direct investment in a greenfield project in American history” Taiwan Semiconductor Manufacturing Co. (TSMC) is the world’s largest chip manufacturer 45 semiconductor suppliers to TSMC, totaling ~5.5M SF, have entered Phoe
Slide 14: Identifiable Earnings Growth Drivers
LXP INDUSTRIAL TRUST Identifiable Earnings Growth Drivers Looking Ahead Mark-to-Market Opportunity Leases expiring through 2030 estimated Estimated to increase initial annual cash rent by to have a ~16% current mark-to-market $27M, or $0.46 per share (~14% of FFO)1,2 Contractual Rental Escalations 2
Slide 15: Same-Store NOI Growth
LXP INDUSTRIAL TRUST Same-Store NOI Growth Lease Rollover Schedule1 Attractive mark-to-market opportunity ~59% of Portfolio Expiring Through 2030 – 16% Current Mark-to-Market2 and rent escalations contributing to 17.8% $50 same-store NOI growth 14.7% 14.0% $40 ($ in millions) $30 8.0% Same-Store NOI
Slide 16: Development Program Highlights
LXP INDUSTRIAL TRUST Development Program Highlights1 LXP’s development program includes 16 facilities totaling 10.3M square feet since 2019, with 98% leased or sold. ▪ 9.1M SF of development completed (15 facilities) – 98% leased or sold o 6.8M SF of first-generation leasing • 7.1% weighted-average
Slide 17: Value Creation at Phoenix Development Site
LXPINDUSTRIAL LXP INDUSTRIALTRUST TRUST Value Creation at Phoenix Development Site Future opportunity to develop remaining ~240-acre land site in Phoenix, where LXP recently broke ground on ~1.2M SF development project 4Q 2021 Initial Investment Phoenix Development Site New Spec Project Acquired ~41
Slide 18: 1Q 2026 Phoenix Development Start - Building D
LXP INDUSTRIAL TRUST 1Q 2026 Phoenix Development Start - Building D No existing 1M SF facilities currently LXP broke ground on ~1.2M SF development project on available to lease in the West Valley Phoenix land site in February 2026 ▪ Total budget: ~$122 million (including LXP’s land basis of $24 mil
Slide 19: Strong Balance Sheet with Attractive Debt Maturity Profile
LXP INDUSTRIAL TRUST Strong Balance Sheet with Attractive Debt Maturity Profile1 Proforma Consolidated Debt Maturity Profile ($mm)2 Attractive weighted-average interest rate of 3.57% with a $450 $400 2.70% 2.38% weighted-average term to maturity of 4.7 years; $350 approximately 99% at fixed rates fo
Slide 20: Corporate Responsibility Strategy
LXP INDUSTRIAL TRUST Corporate Responsibility Strategy Our Approach Corporate Responsibility − Strategy led by our ESG+R Taskforce that − Oversight provided by the Nominating and Corporate Priorities establishes our priorities and actions Responsibility Committee of our Board of Trustees − Transpare
Slide 21: Corporate Responsibility Highlights and Progress
LXP INDUSTRIAL TRUST Corporate Responsibility Highlights and Progress1 Environmental Resilience • ~40% green building certified across portfolio2 • Assessed Carbon Risk Real Estate Monitor • Completed third GHG inventory (CRREM) decarbonization pathways across our • 9M SF of portfolio received ENERG
Slide 22: Non-GAAP Measures - Definitions
LXP INDUSTRIAL TRUST Non-GAAP Measures - Definitions LXP has used non-GAAP financial measures as defined by Regulation G promulgated by the Securities and Exchange Commission in this presentation. LXP believes that the measures defined below are helpful to investors in measuring LXP’s performance or
Slide 23: Non-GAAP Measures - Definitions, cont.
LXP INDUSTRIAL TRUST Non-GAAP Measures - Definitions, cont. Net Operating Income (NOI): NOI is a measure of operating performance used to evaluate the individual performance of an investment. This measure is not presented or intended to be viewed as a liquidity or performance measure that presents a
Slide 24: Appendix
LXP INDUSTRIAL TRUST Appendix 24
Slide 25: Development Program Summary
LXP INDUSTRIAL TRUST Development Program Summary FIRST GENERATION LEASING1 UNDER CONSTRUCTION Lease Est. Completion Project (% Owned) Market SF Project (% Owned) Market SF Commencement Date Reems & Olive Building D (95.5%) Phoenix 1,185,000 1Q 2027 Smith Farms Building 3 (90%) Greenville/Spartanburg
Slide 26: LXP Industrial Trust
LXP INDUSTRIAL TRUST ■ 515 N. FLAGLER DRIVE ■ SUITE 408 ■ WEST PALM BEACH, FL 33401 ■ WWW.LXP.COM