Company: FR
Filing Date: 2025-05-08
Form Type: S-3ASR
Source: 0001193125-25-115162
Chunk: 46

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-05-08
Form: S-3ASR
Chunk 46
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 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 tax purposes; and |

| • |     | potential changes in the applicable tax laws. |

Taxation of the Company as a REIT For purposes of this discussion, references to “us,” “our” or “we,” and any similar terms, refer to First Industrial Realty Trust, Inc. This section is a summary of the material U.S. federal income tax matters of general application pertaining to REITs under the Code. This discussion is based upon current law, which is subject to change, possibly on a retroactive basis. The provisions of the Code pertaining to REITs are highly technical and complex and sometimes involve mixed questions of fact and law. In the opinion of Barack Ferrazzano Kirschbaum & Nagelberg LLP:

| • |     | our current and proposed method of operation (as represented by us to Barack Ferrazzano Kirschbaum &                                                 
 Nagelberg LLP in a written certificate) will enable us to continue to meet the requirements for qualification and taxation as a REIT under the Code. |

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Barack Ferrazzano Kirschbaum & Nagelberg LLP’s opinion is based on various
assumptions and is conditioned upon certain representations made by us as to factual matters with respect to us and certain partnerships, limited liability companies and corporations through which we