LXP Industrial Trust (LXP) investor relations material

Executive summary

• Portfolio consists of 108 properties totaling 52.7 million sq ft, 96.6% leased, with a focus on high-growth Sunbelt and Midwest markets and strong tenant base including Amazon, Nissan, and Walmart.

• Achieved 3.2 million sq ft of new leases and renewals year to date, including a 1.1 million sq ft extension in Greenville/Spartanburg and 1.8 million sq ft of new/extended leases in Q1 2026.

• Commenced 1.2 million sq ft speculative development in Phoenix, with all other million sq ft buildings in West Valley now leased.

• Extended maturities and reduced pricing on $600 million revolving credit facility and $250 million term loan.

• Repurchased and retired approximately 325,000 common shares at an average price of $48.70 per share.

Financial highlights

• Adjusted Company FFO for Q1 2026 was $47–$47.3 million, or $0.80 per diluted share, up 2.6% year-over-year.

• Same-store NOI growth was 2.0% year-over-year, reaching $67.4 million.

• Total gross revenues for Q1 2026 were $85.9 million, down from $88.9 million in Q1 2025.

• Net loss attributable to common shareholders was $(1.9) million, or $(0.03) per share, compared to net income of $17.3 million, or $0.30 per share, in Q1 2025.

• Quarterly dividend increased to $0.70 per common share.

Outlook and guidance

• Maintaining 2026 adjusted company FFO guidance of $3.22–$3.37 per share and same-store NOI growth of 1.5%–2.5%.

• Mark-to-market opportunity on leases expiring through 2030 estimated at ~16%, potentially increasing annual cash rent by $27 million.

• Q2 same-store NOI growth expected to be lower due to move-outs and lease timing, with improvement anticipated in the second half.

• Management expects cash flows from operations, cash on hand, and available credit to fund operating needs and dividends.

• Active leasing pipeline with over seven million sq ft under discussion.