LXP Industrial Trust (LXP) Proxy filing summary

Executive summary

• Supplement details a reverse split of common shares effective November 10, 2025, reducing outstanding shares to approximately 59.2 million.

• The reverse split aimed to improve earnings per share granularity, lower listing and transaction costs.

• Board unanimously approved the reverse split and related amendments to the declaration of trust.

Voting matters and shareholder proposals

• Shareholders will be asked at the 2027 Annual Meeting to approve an amendment reducing authorized common shares to 120,000,000.

• No issuance of common shares above the adjusted authorized amount will occur without shareholder approval.

Board of directors and corporate governance

• Board acted within Maryland law and trust declaration, which did not permit a pro rata reduction of authorized shares without shareholder approval.

• Board approved the reverse split and par value adjustment without requiring shareholder approval.