Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 1

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 1
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.8% after 
 another solid year of securing average annual escalators of 3.6% for leases signed in 2024.                                    |

| ● | Investments: In addition to the sale of our two remaining consolidated office assets, we                                                 
 opportunistically sold approximately $252 million of assets outside of our target markets, including our ground leased land investment   
 in Phoenix. We were able to redeploy the capital into four Class A industrial assets and a build-to-suit project in our target markets.  
 In our development portfolio, we invested approximately $109 million in development projects and leased our 250,000 square foot facility 
 in the Columbus market.                                                                                                                  |

| ● | Balance Sheet: We capitalized on a favorable market window and swapped the interest rate                                                 
 on $250 million of our $300 million term loan and approximately $83 million of our Trust Preferred Securities. These transactions, along 
 with the repayment of the remaining $50 million term loan after year-end, successfully locked in fixed rates on 97% of our debt through  
 year-end 2026. Net debt to adjusted EBITDA was 5.9x at year-end. There is a clear path to reducing leverage over time as we grow EBITDA  
 through the lease-up of vacant assets, marking rents to market and increasing rents with annual escalators.                              |

<div align='center'>Highly Skilled and Engaged Board of Trustees Our Board of Trustees brings focused expertise in real estate, supply chain and logistics, information technology and cybersecurity, investor relations and business development, among many other areas. They engage frequently with executives and senior management outside of scheduled meetings, allowing for further insight into the Company’s initiatives and progress.</div>

<div align='center'>Corporate Responsibility Corporate governance and transparency have been the cornerstone of our corporate responsibility program. We focus on best practices, disclosure enhancement, program oversight, employee development, and portfolio resiliency. This year we focused our environmental targets to better align with the Company’s strategy. In addition, we installed our first LXP-led solar array, which helped lead to tenant retention at the property. Our program continues to be focused on enhancing shareholder value. Continuous and Valuable Shareholder Engagement We continue to prioritize regular shareholder engagement, which we believe is critical to helping inform our business strategy. This engagement provides valuable insight so that we may better align with our shareholders’ interests. We connected with nearly 75% of our outstanding shareholder base and held 115 meetings with potential and existing shareholders representing 61% of