Company: FR
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118941
Chunk: 105

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-05-13
Form: 424B5
Chunk 105
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 the acquisition, ownership and disposition of our capital stock or the Operating Partnership’s debt securities. This summary is for general information only and is not tax advice. This discussion is based on the Code, Treasury regulations, rulings and other administrative and judicial interpretations and practices of the IRS, and judicial decisions, all as in effect as of the date hereof, and all of which are subject to differing interpretations or to change, possibly with retroactive effect. We cannot assure you that the IRS would not assert, or that a court would not sustain, a position contrary to any of the tax considerations described below. Moreover, we cannot assure you that new laws, interpretations of law, or court decisions, any of which may take effect retroactively, will not cause any statement in this section to be inaccurate. This discussion does not purport to deal with all aspects of U.S. federal income taxation that may be relevant to holders subject to special treatment under the U.S. federal income tax laws, such as dealers in securities or currencies, traders in securities that elect to use a mark-to-marketmethod of accounting for such traders’ securities holdings, persons holding our stock as part of a hedge, straddle or other risk reduction, constructive sale or conversion transaction, insurance companies, tax-exemptentities (except to the limited extent discussed below under “Tax-ExemptU.S. Holders”), persons who receive their stock as compensation for services, persons holding our stock on behalf of other persons as nominees, non-U.S.individuals and foreign corporations (except to the limited extent discussed below under “Non-U.S.Holders”), regulated investment companies, individuals subject to the alternative minimum tax, financial institutions and partnerships or other pass-through entities and trusts. This section applies only to holders of securities who hold such securities as capital assets within the meaning of Section 1221 of the Code (generally, property held for investment). This summary does not discuss any U.S. state or local or non-U.S.tax consequences associated with the ownership, sale or other disposition of the securities or our election to be taxed as a REIT. You are urged to consult your tax advisors regarding the specific tax consequences to you of:

| • |     | the acquisition, ownership and/or sale or other disposition of the common stock, preferred stock or the                 
 Operating Partnership’s debt securities, including the U.S. federal, state, local, non-U.S. and other tax consequences; |

| • |     | our election to be taxed as a REIT for U.S. federal income