# EDGAR Filing Document

**Accession Number:** 0001571283
**File Stem:** 0001571283-25-000057
**Filing Date:** 2025-11
**Character Count:** 145248
**Document Hash:** 5cb1026c41fe2dbc54ed6a629845b093
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001571283-25-000057.hdr.sgml**: 20251118

**ACCESSION NUMBER**: 0001571283-25-000057

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 19

**CONFORMED PERIOD OF REPORT**: 20251117

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251118

**DATE AS OF CHANGE**: 20251118

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Rexford Industrial Realty, Inc.
- **CENTRAL INDEX KEY:** 0001571283
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 462024407
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36008
- **FILM NUMBER:** 251495054

**BUSINESS ADDRESS:**
- **STREET 1:** 11620 WILSHIRE BOULEVARD, SUITE 1000
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90025
- **BUSINESS PHONE:** 310-966-1680

**MAIL ADDRESS:**
- **STREET 1:** 11620 WILSHIRE BOULEVARD, SUITE 1000
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90025

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Rexford Industrial, Inc.
- **DATE OF NAME CHANGE:** 20130305

?xml version='1.0' encoding='ASCII'? rexr-20251117

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of** 

**The Securities Exchange Act of 1934** 

**Date of Report (Date of earliest event reported): November 17, 2025** 

**REXFORD INDUSTRIAL REALTY, INC.** 

**(Exact name of registrant as specified in its charter)** 

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| | | |
|:---|:---|:---|
| **Maryland** | **001-36008** | **46-2024407** |
| **(State or other jurisdiction of<br>incorporation)** | **(Commission File Number)** | **(IRS Employer Identification No.)** |

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| | |
|:---|:---|
| **11620 Wilshire Boulevard, Suite 1000** | |
| **Los Angeles** | |
| **California** | **90025** |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

**Registrant's telephone number, including area code: (310) 966-1680** 

**N/A**

 **(Former name or former address, if changed since last report.)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading symbols | Name of each exchange on which registered |
| Common Stock, $0.01 par value | REXR | New York Stock Exchange |
| 5.875% Series B Cumulative Redeemable Preferred Stock | REXR-PB | New York Stock Exchange |
| 5.625% Series C Cumulative Redeemable Preferred Stock | REXR-PC | New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

On November 17, 2025, the Board of Directors (the "Board") of Rexford Industrial Realty, Inc., a Maryland corporation (the "Company"), approved the appointment of Laura Clark, who currently serves as Chief Operating Officer of the Company, as the Company's Chief Executive Officer, effective as of April 1, 2026, and elected Ms. Clark as a member of the Board, effective immediately, increasing the number of directors to eight. Ms. Clark will succeed Michael S. Frankel and Howard Schwimmer, who will depart as co-Chief Executive Officers effective on March 31, 2025 (the "Transition Date").

Ms. Clark, 45, joined the Company as Chief Financial Officer in 2020 and was appointed Chief Operating Officer in 2024. Prior to joining the Company, Ms. Clark held various leadership positions at Regency Centers Corporation, a publicly traded retail real estate investment trust, including Senior Vice President of Capital Markets from 2017 to 2020. Ms. Clark is party to an employment agreement, as most recently amended on November 18, 2024, with the Company. The Company anticipates entering into arrangements with Ms. Clark with respect to her role as Chief Executive Officer prior to the effectiveness of her appointment, the terms of which will be disclosed separately.

There are no arrangements or understandings between Ms. Clark and any other persons pursuant to which she was selected as a director, and there are no family relationships between Ms. Clark and any director or executive officer of the Company. Ms. Clark has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Ms. Clark will not serve on any committees of the Board or receive any directors' fees.

In connection with their upcoming departure, Messrs. Frankel and Schwimmer have each entered into a transition and separation agreement (together, the "Transition and Separation Agreements") with the Company, pursuant to which, and subject to their execution and non-revocation of a release of claims (the "Release") and continued compliance with certain restrictive covenants, Messrs. Frankel and Schwimmer will each be entitled to receive the following payments and benefits: (i) a lump sum cash payment equal to a pro rata portion (to reflect their service though their separation date) of their target bonus for 2026; (ii) continued health insurance coverage at active employee rates for up to 18 months; (iii) the accelerated vesting of outstanding time-based equity awards; and (iv) treatment of their termination of employment on the Transition Date as a "Qualified Termination" (as defined in the applicable award agreements) for purposes of outstanding performance-based equity awards, such that those performance-based awards will remain eligible to vest in accordance with their terms. Additionally, Messrs. Frankel and Schwimmer will each be entitled to a cash payment of $62,500 for their continued service as non-employee members of the Board following the Transition Date through the next annual meeting of the Company's stockholders. The Board decreased the number of directors of the Company by two, effective at the next annual meeting of the Company's stockholders, eliminating any vacancies on the Board resulting from the completion of Messrs. Frankel and Schwimmer's service as directors. In addition, to support the transition of their responsibilities through the Transition Date and in lieu of certain severance payments that Messrs. Frankel and Schwimmer would have been eligible to receive in the event of a termination without cause, Messrs. Frankel and Schwimmer will each be granted an award of restricted stock with a fair market value of $22,590,000 within five business days of their execution of the Transition and Separation Agreements (the "Restricted Stock Award"). The Restricted Stock Award will vest on the date on which the Release becomes effective, subject to Messrs. Frankel and Schwimmer's (x) continued service with the Company through March 31, 2026 (or, if earlier, through the date the Company terminates their employment without cause), (y) compliance with the terms of the Transition and Separation Agreement and (z) execution and non-revocation of the Release.

**Item 7.01 Regulation FD.**

On November 18, 2025, the Company issued a press release in connection with the Chief Executive Officer transition as reported under Item 5.02 above and issued a press release regarding the Company's strategic priorities and intent to appoint a new independent director. Copies of these press releases are furnished as Exhibits 99.1 and 99.2, respectively, to this current report on Form 8-K and incorporated herein by reference.

Exhibits 99.1 and 99.2 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Registrant under the Securities Act of 1933 or the Exchange Act.

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**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits.

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| | |
|:---|:---|
| **Exhibit<br>Number** | **Description** |
| 10.1 | <u>[Transition and Separation Agreement, dated as of November 17, 2025, by and between Michael S. Frankel, on the one hand, and Rexford Industrial Realty, Inc. and Rexford Industrial Realty, L.P., on the other hand](ex101-rexrxfrankelxtransit.htm)</u> |
| 10.2 | <u>[Transition and Separation Agreement, dated as of November 17, 2025, by and between Howard Schwimmer, on the one hand, and Rexford Industrial Realty, Inc. and Rexford Industrial Realty, L.P., on the other hand](ex102-rexrxschwimmerxtrans.htm)</u> |
| 99.1 | <u>[Press Release, dated November 18, 2025](ex991-251118_rexfordindust.htm)</u> |
| 99.2 | <u>[Press Release, dated November 18, 2025](ex992-251118_rexfordindust.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| | **Rexford Industrial Realty, Inc.** | **Rexford Industrial Realty, Inc.** |
| Date: November 18, 2025 | By: | <br>/s/ David E. Lanzer |
|  |  | David E. Lanzer<br>General Counsel & Secretary |

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## Exhibit 10.1

**Exhibit 10.1**

**TRANSITION AND SEPARATION AGREEMENT**

This TRANSITION AND SEPARATION AGREEMENT (this "<u>Agreement</u>") is entered into between Michael S. Frankel (the "<u>Executive</u>"), on the one hand, and Rexford Industrial Realty, Inc. ("<u>Rexford Industrial</u>," or the "<u>Company</u>") and Rexford Industrial Realty, L.P. (the "Rexford Partnership"), on the other, and is effective as of November 17, 2025. Company and Executive shall each be referred to in this Agreement as a "<u>Party,</u>" and collectively as the "<u>Parties.</u>"

WHEREAS, Executive has been employed by the Company and the Rexford Partnership as Co-Chief Executive Officer ("<u>Co-CEO</u>") pursuant to that certain Employment Agreement dated July 24, 2013, as thereafter amended (the "<u>Employment Agreement</u>"), and any capitalized but undefined terms used herein shall have the meanings ascribed to them in the Employment Agreement;

WHEREAS, Executive and the Board of Directors of the Company (the "<u>Board</u>") have mutually agreed that Executive and the other Co-CEO will separate from the Company and the Rexford Partnership following a transition period;

WHEREAS, Executive and the Company wish to resolve all matters related to Executive's employment with the Company and the cessation thereof, on the terms and conditions expressed in this Agreement.

NOW THEREFORE, in consideration of the mutual promises contained herein, the Parties, intending to be legally bound, agree as follows:

**1.**&nbsp;&nbsp;&nbsp;&nbsp;**Transition and Separation Date**. Executive and the Company agree that Executive shall continue in his employment with the title of Co-CEO until March 31, 2026 (the "<u>Separation Date</u>"), unless earlier terminated by the Company for Cause (as defined in the Employment Agreement) in which case, the effective date of such termination shall become the Separation Date. Effective on the Separation Date, Executive's employment shall terminate and Executive shall be deemed to have resigned from and relinquished any and all titles, offices, directorships, and authority related to his employment with the Company and the Rexford Partnership. Notwithstanding the foregoing or anything in the Employment Agreement to the contrary, the Parties agree that nothing in this Agreement shall constitute Executive's resignation from Rexford Industrial's board of directors (the "<u>Board</u>"), and that Executive shall continue to serve as a director of the Board for the remainder of his current term (or until his earlier resignation or removal in accordance with Rexford Corporation's Articles of Amendment and Restated or Fifth Amended and Restated Bylaws, in each case, as may be amended from time to time). Further, and for the avoidance of doubt, at all times prior to the Separation Date, Executive's duties, authority and responsibilities as Co-CEO shall remain subject to revision, delegation, or limitation by the Board, in accordance with the Company's bylaws.

**2.**&nbsp;&nbsp;&nbsp;&nbsp;**Compensation During Transition; Unconditional Obligations.** Executive's compensation in connection with his services through the Separation Date shall consist solely of: (a) continued eligibility to receive the Base Salary through the Separation Date (paid in accordance with the Company's normal payroll practices); (b) continued eligibility to participate in the health, welfare and retirement benefit plans available to senior executive officers from time to time; and

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(c) continued eligibility for his Annual Bonus for 2025, in accordance with the 2025 short term incentive program approved by the Company's Compensation Committee of the Board of Directors pursuant to the Unanimous Written Consent dated March 31, 2025. Additionally, during the period of time following the Separation Date through the end of the current term of Executive's service on the Board, Executive shall be entitled to compensation for such Board service as a non-employee Director consisting of a cash payment of $62,500 paid in arrears. For the avoidance of doubt, Executive acknowledges and agrees that, notwithstanding anything in the Employment Agreement to the contrary, he shall not be entitled to receive any further compensation or equity award not otherwise specified in this Agreement. Rexford Industrial and Executive acknowledge that Executive shall be paid his salary through the Separation Date and he shall be entitled to reimbursement of business expenses through the Separation Date, if any, that shall be submitted and paid in accordance with Company business expense reimbursement policies, in each case without any other condition. Executive further acknowledges that, following the Separation Date, he shall receive notice under separate cover concerning his right to continue his insurance coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("<u>COBRA</u>") and that he is solely responsible for electing or declining such coverage and paying the applicable premiums to secure such coverage, except as set forth in <u>Section 4(c)</u>.

**3.**&nbsp;&nbsp;&nbsp;&nbsp;**Transition Equity Award.** Provided that Executive accepts and executes this Agreement, the Company shall, within five (5) business days of Executive's execution of this Agreement, grant an award of Restricted Stock (as defined in the Plan) with respect to the number of shares of the Company's common stock equal to the quotient obtained by dividing (a) $22,590,000.00 by (b) the Fair Market Value of a Share on the date of this Agreement (the "<u>Transition Restricted Stock Award</u>"). Subject to (i) Executive's continued service with the Company through March 31, 2026 (or, if earlier, through the date the Company terminates the Executive's employment without Cause), (ii) Executive's compliance with the terms of this Agreement, (iii) Executive's execution and non-revocation of the Supplemental Release attached hereto as <u>Exhibit A</u> (the "<u>Supplemental Release</u>") within forty-five (45) days of the Separation Date (or, if earlier, the date the Company terminates the Executive's employment without Cause), the Transition Restricted Stock Award (including, for the avoidance of doubt, any dividends paid with respect thereto) shall vest and become nonforfeitable on the "Effective Date" (as such term is defined in the Supplemental Release). The terms and conditions of the Transition Restricted Stock Award shall be set forth in a separate award agreement in a form prescribed by the Company (the "<u>Restricted Stock Award Agreement</u>"), to be entered into by the Company and Executive, which shall evidence the grant of the Transition Restricted Stock Award.

**4.&nbsp;&nbsp;&nbsp;&nbsp;Severance Benefits.** Provided that Executive accepts and executes this Agreement, complies with its terms, is not terminated for Cause, and executes and does not revoke the Supplemental Release within forty-five (45) days of the Separation Date (or, if earlier, the date the Company terminates the Executive's employment without Cause), the Company will provide Executive with the following payments and benefits:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a)&nbsp;&nbsp;&nbsp;&nbsp;a lump sum payment in a total gross amount calculated as a pro rata portion of Executive's Target Bonus for 2026 through the Separation Date, paid (subject to Section 20) on the sixtieth (60th) day after the Separation Date (or, if earlier, the date the Company terminates the Executive's employment without Cause);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b)&nbsp;&nbsp;&nbsp;&nbsp;the Company shall cause each outstanding award under the Plan that vests based solely on continued service to the Company and that is held by Executive on the Separation Date (or, if earlier, the date the Company terminates the Executive's employment without Cause) to become fully vested upon the Effective Date of the Supplemental Release, whereas Executive's outstanding equity awards that vest based upon Company performance will not be treated as fully vested and/or accelerated, but instead will be treated as though Executive's termination of employment on the Separation Date (or, if earlier, the date the Company terminates the Executive's employment without Cause) constitutes a "Qualifying Termination" (as defined in the applicable award agreements), such that those performance-based awards shall remain eligible to vest in accordance with their terms; for the avoidance of doubt, except as expressly set forth herein, Executive's outstanding equity awards otherwise remain subject to the terms and conditions of the Plan and the relevant award agreements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c)&nbsp;&nbsp;&nbsp;&nbsp;if Executive timely elects to receive continued coverage under the Company's group health care plan pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("<u>COBRA</u>"), Executive shall be responsible for paying the full costs of the applicable COBRA premium for COBRA coverage under such plan (as in effect or amended from time to time), and the Company will then reimburse Executive on a monthly basis, within ten (10) days after its receipt of sufficient documentation of payment by Executive of the applicable monthly premium (which documentation Executive shall submit to the Company within ten (10) days after such payment by Executive), for a portion (the "<u>COBRA Subsidy</u>") of such applicable COBRA premium payment(s) paid by Executive for the period from the Separation Date (or, if earlier, the date the Company terminates the Executive's employment without Cause) until (i) eighteen (18) months following the Separation Date (or, if earlier, the date the Company terminates the Executive's employment without Cause) (such period referred to as the "<u>COBRA Subsidy Period</u>"). The COBRA Subsidy for a given month shall be an amount equal to the employer share of the premium that the Company otherwise would pay for such group health care plan coverage if Executive were an active employee as of such month. Executive shall be responsible for paying the full unsubsidized costs (without any COBRA Subsidy) of the applicable COBRA premium for any and all COBRA coverage after the COBRA Subsidy Period.

Executive acknowledges that (i) all payments to him pursuant to this Agreement (and the Restricted Stock Award Agreement) shall be subject to all applicable taxes and withholdings and reported on a Form W-2 and (ii) except as otherwise set forth in Section 3 and Section 4 of this Agreement, Executive has no other rights to any payments or benefits in connection with Executive's separation from the Company.

**5.**&nbsp;&nbsp;&nbsp;&nbsp;**Affirmation by Executive**. Executive affirms that as of the date of this Agreement, he has been paid and/or has received all leave (paid or unpaid); compensation, wages, bonuses, and/or commissions, including for all hours of work, including any and all overtime hours worked; and/or benefits to which he may be entitled, and that no other leave (paid or unpaid), compensation, wages, bonuses, commissions and/or benefits are due to Executive, except as provided in this Agreement. Executive further affirms that he has no known workplace injuries or occupational

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diseases and has been provided and/or has not been denied any leave to which Executive was entitled under the Family and Medical Leave Act or related state or local laws. Executive further affirms that he has not been retaliated against for reporting any allegations of wrongdoing by the Company or its officers, including any allegations of corporate fraud. Executive further affirms that he has not raised any claim the factual foundation for which involves discrimination.

**6.**&nbsp;&nbsp;&nbsp;&nbsp;**No Initiated Claims.** Executive represents that he has not filed any claims or charges against Rexford Industrial with any court or with the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, or any other federal, state or local governmental agency or commission ("<u>Government Agencies</u>"); it being understood that nothing herein requires Executive to disclose any prior reporting of suspected violations of law to the Securities and Exchange Commission. Executive further represents he has not assigned to any third party the right to bring a claim or charge against Rexford Industrial with any Governmental Agencies or court. Executive waives any right to recover damages from any claims or litigation asserted by any third party as consideration for the pay and other benefits provided in this Agreement. Nothing in this Agreement shall be construed to prohibit Executive from filing a charge with or participating in any investigation or proceeding conducted by any Government Agencies, including providing documents or other information without notice to Rexford Industrial. This Agreement does not limit Executive's right to receive an award for information provided to any Government Agencies.

**7.**&nbsp;&nbsp;&nbsp;&nbsp;**Release of Claims.** Executive waives any legal rights and releases and forever discharges Rexford Industrial, Rexford Partnership, and all affiliated and/or related entities of either of them, including, but not limited to, each of their shareholders, partners, directors, officers, agents, trustees, employees, attorneys, successors, and assigns (the "<u>Releasees</u>"), from any and all liability, demands, claims, suits, actions, charges, damages, judgments, levies or executions, damages, whether known or unknown, liquidated, fixed, contingent, direct or indirect, which have been, could have been or could be raised or brought by Executive that related to any matter whatsoever at any time before, and including, the execution of this Agreement ("<u>Claims</u>"). This release includes, but is not limited to, any and all Claims arising out of or related to Executive's employment with, or separation of employment from, Rexford Industrial; all contractual rights and obligations, including, without limitation, any Claims under any employment agreement or severance plan; all Claims arising under any state or federal law, including, without limitation, any Claims pertaining to discrimination in employment, wage and hour, Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Equal Pay Act of 1963, as amended; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act; the Employee Retirement Income Security Act of 1974; any applicable Executive Order Programs; the Fair Labor Standards Act; the California Fair Employment and Housing Act; the California Labor Code; the California Private Attorneys General Act; the California Business and Professions Code; all California Wage Orders; the California Family Rights Act; the California Civil Code; the California Government Code; any Claim arising under any tort or other common law theories, including Claims alleging wrongful discharge, breach of contract, infliction of emotional distress, negligence, or defamation; and any claim for costs, fees, or other expenses, including attorneys' fees incurred in such matters. Notwithstanding anything in this Agreement to the contrary, Executive does not waive any rights Executive may have (i) under COBRA; (ii) to Executive's own vested accrued employee benefits

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under the Company's health, welfare, or retirement benefit plans as of the last date of employment; (iii) to benefits and/or the right to seek benefits under applicable workers' compensation and/or unemployment compensation statutes; (iv) to pursue claims which by law cannot be waived, such as any claim to indemnity pursuant to section 2802 of the California Labor Code; (v) to his rights, if any, to indemnification or advancement from the Company as an officer and/or director, whether pursuant to any agreement or by operation of law; and/or (vi) to enforce this Agreement. In signing this Agreement, Executive acknowledges and intends that it shall be effective as a bar to each and every one of the Claims hereinabove mentioned or implied. Executive expressly consents that this Agreement shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected claims (notwithstanding any state or local statute that expressly limits the effectiveness of a release of unknown, unsuspected and unanticipated claims), if any, as well as those relating to any other claims hereinabove mentioned or implied. Executive acknowledges that, by this Agreement, he is waiving claims pursuant to California Civil Code Section 1542. California Civil Code Section 1542 provides as quoted below:

"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY."

Executive acknowledges that he may hereafter discover claims or facts in addition to or different than those which he now knows or believes to exist with respect to the subject matter of the release set forth above and which, if known or suspected at the time of entering into this Agreement, may have materially affected this Agreement and his decision to enter into it. Executive acknowledges and agrees that this waiver is an essential and material term of this Agreement and that without such waiver the Company would not have agreed to the terms of this Agreement.

**8.**&nbsp;&nbsp;&nbsp;&nbsp;**Clawback; Recovery**. All payments and benefits provided herein will be subject to recoupment in accordance with any clawback policy that the Company is required to adopt (and has adopted) pursuant to the listing standards of any national securities exchange or association on which the Company's securities are listed or as is otherwise required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or other applicable law.

**9.**&nbsp;&nbsp;&nbsp;&nbsp;**No Admissions; Representation by the Company.** This Agreement shall not be construed as an admission by Rexford Industrial, any Releasees, or Executive that they acted wrongfully or engaged in any misconduct or impropriety. It simply reflects the Parties' desire to end their employment relationship in a business-like fashion. The Company and the Rexford Partnership represent and warrant to Executive that, as of the execution of this Agreement, neither the Company nor the Rexford Partnership nor, to their knowledge, any Releasee, has filed, and, there are no facts or circumstances known to the Company's Board that would reasonably be expected to give rise to, any claim, action, or proceeding by the Company or any other Releasee against Executive. The Company further represents that its Board is not aware of any basis for

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asserting that Executive has engaged in conduct that would constitute Cause or that would otherwise give rise to any liability of Executive to the Company or any other Releasee.

**10.**&nbsp;&nbsp;&nbsp;&nbsp;**Company Property.** Executive agrees that, no later than the Separation Date, he shall return all property of the Company, Rexford Partnership or their affiliates in his possession, including, without limitation, electronically-stored information or data, reports, customer lists, files, memoranda, records, credit cards, keys, passwords, software, telecommunication equipment, and other physical or personal property that Executive received, prepared, or helped prepare in connection with Executive's employment ("<u>Company Property</u>"); <u>provided, however</u>, that Executive shall be permitted to keep any phones, computers, laptops, tablets, Starlink receivers, and accessories to any of the foregoing previously issued to Executive from the Company, <u>provided, further</u>, that the Company and Executive shall reasonably cooperate regarding the removal of any Company Property on all devices retained by Executive hereunder and, once the same has been removed, the Company shall be deemed hereby to assign, convey, and transfer all right, title, and interest in such devices. Executive further agrees to reasonably cooperate, as requested by the Company from time to time, to transfer to the Company's name (without condition or payment) any accounts, licenses, permits, subscriptions and similar rights that were established, maintained, or used in connection with the business of the Company (including, without limitation, any online accounts, club memberships, periodical subscriptions, entertainment and sporting seat licenses and similar matters) that may be held in the Executive's name. Executive agrees that, in the event that Executive subsequently discovers any Company Property in Executive's possession, Executive will promptly return the same to the Company. Executive agrees to execute a written certification confirming his compliance with his obligations hereunder upon request by the Company. The Company and Executive agree that Executive shall not be required to return any Company-branded personal items primarily used for marketing purposes ("swag") and, further, that upon Executive's request (once per year during the ten years following the Separation Date), the Company shall supply him with a reasonable selection of then-current additional swag at no cost to Executive.

**11.**&nbsp;&nbsp;&nbsp;&nbsp;**Cooperation.** Executive agrees to make himself reasonably available to, and to fully cooperate with the Company in, any internal investigation or administrative, regulatory, or judicial inquiry, investigation, proceeding or arbitration, and the Company shall make reasonable efforts to schedule such cooperation in a manner that minimizes any interference with Executive's professional and personal commitments. Notwithstanding the foregoing, Executive shall not be required to devote more than twenty (20) hours in any calendar year to such cooperation without receiving reasonable compensation from the Company for additional time spent, at a reasonable hourly rate mutually agreed upon by the Parties (which rate shall take into account Executive's then-current professional and personal commitments). Executive understands and agrees that his cooperation includes, but is not limited to, making himself available to the Company upon reasonable notice for interviews and factual investigations; appearing at the Company's request to give testimony without requiring service of a subpoena or other legal process; volunteering to the Company pertinent information; and turning over all relevant documents which are or may come into his possession. The term "cooperation" does not mean that Executive must provide information that is favorable to the Company; it means only that Executive will provide truthful information within his knowledge and possession upon request of the Company. Executive understands that, if the Company asks for his cooperation in accordance with this provision, or he

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is required to participate in an administrative or legal proceeding or arbitration related to matters within the scope of his employment at the Company, the Company will reimburse him for reasonable travel and similar expenses provided that Executive submits to the Company appropriate documentation of such expenses within thirty (30) calendar days after such expenses are incurred (provided that such proceeding was not initiated by Executive and does not otherwise concern any claims by Executive against the Company or any Releasees).

**12.&nbsp;&nbsp;&nbsp;&nbsp;Continuing Obligations; D&O Insurance.** Executive reaffirms his obligations of confidentiality and non-solicitation set forth in the Employment Agreement, represents and warrants that he has not breached the same, and understands that such obligations continue after termination of employment and execution of this Agreement; <u>provided, however</u>, that the parties acknowledge that Executive's confidentiality obligations are subject to the exceptions set forth in Section 16 herein. The Parties incorporate such obligations into this Agreement as if fully set forth herein and acknowledge that Executive's breach of those obligations shall constitute a breach of this Agreement. Further, the Parties agree that nothing herein shall limit Executive's rights or the Company's obligations under that certain Tax Matters Agreement dated as of July 24, 2013 (the "Tax Matters Agreement"), by and among Rexford Corporation, Rexford Partnership, and each "Protected Partner" and "Guaranty Partner" signatory thereto, which the Parties agree shall continue in full force and effect pursuant to and in accordance with its terms. The Company agrees to maintain Directors and Officers insurance covering Executive for a period of at least six (6) years following the Separation Date, on terms no less favorable, in the aggregate, to the terms of such coverage that the Company provides to its current directors and officers during such time, for any and all claims that have arisen or may arise out of Executive's employment or service as an officer or director of the Company or the Rexford Partnership.

**13.**&nbsp;&nbsp;&nbsp;&nbsp;**Intellectual Property**. Executive acknowledges that the Company owns the sole and exclusive right, title and interest in and to any and all Works (as defined below), including, without limitation, any and all source code or other intellectual property and further including, without limitation, all copyrights, trademarks, service marks, trade names, slogans, patents, ideas, designs, concepts, design rights, database rights, utility models, track records, inventions, drawings, rights in computer programs (including both object code and source code), computer programs (including both object code and source code), and whether registered or unregistered, applications for registration of any of the foregoing and the right to apply for them in any part of the world, and other proprietary rights. As used herein, "<u>Works</u>" means (i) any inventions, developments, improvements, trade secrets, ideas or original works of authorship that Executive conceived, created, developed, discovered, made, acquired or reduced to practice in whole or in part, either solely or jointly with another or others, during or pursuant to the course of Executive's employment by the Company and that relate to the Company or its businesses, or to the Company's actual or demonstrably anticipated research or development, (ii) any inventions, developments, improvements, trade secrets, ideas or original works of authorship that Executive conceived, created, developed, discovered, made, acquired or reduced to practice in whole or in part, either solely or jointly with another or others, during or pursuant to the course of Executive's employment by the Company and that were made through the use of any of the Company's equipment, facilities, supplies, trade secrets or time, or that resulted from any work performed for the Company, and (iii) any part or aspect of any of the foregoing. Rexford Industrial's right, title and interest in and to the Works includes without limitation the sole and exclusive right to secure and own copyrights

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and maintain renewals throughout the world, and the right to modify and create derivative works of or from the Works without any payment of any kind to Executive. Executive agrees to cooperate with the Company to execute documents or otherwise provide any reasonable assistance requested by the Company to perfect his assignment of any intellectual property rights in favor of the Company. Executive acknowledges that he has been notified and understands that the provisions of this Section 13 do not apply to any Works that qualify fully under the provisions of Section 2870 of the California Labor Code, which states as follows:

ANY PROVISION IN AN EMPLOYMENT AGREEMENT WHICH PROVIDES THAT AN EMPLOYEE SHALL ASSIGN, OR OFFER TO ASSIGN, ANY OF HIS OR HER RIGHTS IN AN INVENTION TO HIS OR HER EMPLOYER SHALL NOT APPLY TO AN INVENTION THAT THE EMPLOYEE DEVELOPED ENTIRELY ON HIS OR HER OWN TIME WITHOUT USING THE EMPLOYER'S EQUIPMENT, SUPPLIES, FACILITIES, OR TRADE SECRET INFORMATION EXCEPT FOR THOSE INVENTIONS THAT EITHER: (1) RELATE AT THE TIME OF CONCEPTION OR REDUCTION TO PRACTICE OF THE INVENTION TO THE EMPLOYER'S BUSINESS, OR ACTUAL OR DEMONSTRABLY ANTICIPATED RESEARCH OR DEVELOPMENT OF THE EMPLOYER; OR (2) RESULT FROM ANY WORK PERFORMED BY THE EMPLOYEE FOR THE EMPLOYER. TO THE EXTENT A PROVISION IN AN EMPLOYMENT AGREEMENT PURPORTS TO REQUIRE AN EMPLOYEE TO ASSIGN AN INVENTION OTHERWISE EXCLUDED FROM BEING REQUIRED TO BE ASSIGNED UNDER CALIFORNIA LABOR CODE SECTION 2870(a), THE PROVISION IS AGAINST THE PUBLIC POLICY OF THIS STATE AND IS UNENFORCEABLE.

**14.**&nbsp;&nbsp;&nbsp;&nbsp;**Non-Disparagement.** Subject to the exceptions set forth in Section 16 of this Agreement, Executive agrees that he will not make any statement to any third party that is intended to or is reasonably likely to disparage, slander or otherwise damage the business reputation of the Company or any of the other Releasees; <u>provided, however</u>, that the preceding language shall not limit Executive's ability to (i) make truthful statements or disclosures that are required by applicable law, regulation or legal process; (ii) request or receive confidential legal advice; (iii) make truthful statements that are reasonably necessary in connection with the enforcement of this Agreement or any other agreement between Executive and the Company. Each of the Company and the Rexford Partnership agrees that it shall instruct its directors and officers (as applicable) not to make any statements concerning Executive that are intended to or are reasonably likely to disparage, slander or otherwise damage the business reputation of Executive, other than truthful statements to any Government Agencies.

**15.**&nbsp;&nbsp;&nbsp;&nbsp;**No Assistance to Litigants.** Executive agrees that Executive will not aid, advise or otherwise assist any competitor of the Company, stockholder of the Company, litigant or potential

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litigant against the Company (each, a "<u>Potential Adverse Party,</u>" and, for the avoidance of doubt, this defined term excludes any governmental or regulatory authority) in asserting, prosecuting, or defending any claim, or making any other demands, against the Company, and, further, Executive shall promptly notify the Company if, at any time within the two (2)-year period following the end of Executive's service on the Board, Executive is approached by any Potential Adverse Party to provide assistance concerning any such matters; <u>provided, however</u>, that the preceding language shall not limit Executive's ability to (i) make truthful statements or disclosures that are required by applicable law, regulation or legal process; (ii) request or receive confidential legal advice; (iii) cooperate, participate, or file charges with any federal, state or local government agency; (iv) report suspected violations of law; or (v) enforce this Agreement or any other agreement between Executive and the Company.

**16.**&nbsp;&nbsp;&nbsp;&nbsp;**Exceptions**. Notwithstanding anything herein that could be construed to the contrary, Executive acknowledges and agrees that nothing in this Agreement or in any agreement between him and the Company or the Rexford Partnership prohibits or limits him (or his attorney) from initiating communications directly with, responding to any inquiry from, volunteering information to, or providing testimony before the Securities and Exchange Commission (SEC), the Department of Justice, any regulatory or self-regulatory organization, or any other governmental, law enforcement, or regulatory authority, regarding this Agreement and its underlying facts and circumstances, or any reporting of, investigation into, or proceeding regarding suspected violations of law, and that he is not required to advise or seek permission from the Company before or after engaging in any such activity. Executive further acknowledges that, in connection with any such activity, he must inform such authority of the confidential nature of any confidential information that he provides, and that he is not permitted to disclose any information that is protected by the attorney-client privilege or any other privilege belonging to the Company, as the Company does not waive and intends to preserve such privileges. Executive is hereby notified that, pursuant to federal law (the Defend Trade Secrets Act), an individual, shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is (i) made in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney solely for the purpose of reporting or investigating a suspected violation of law; or (ii) made in a complaint or other document filed in a lawsuit or other proceeding if such filing is made under seal. Further, nothing in this Agreement prohibits Executive from testifying in an administrative, legislative or judicial proceeding regarding alleged criminal conduct or sexual harassment, when Executive has been required or requested to attend a proceeding pursuant to court order, subpoena, or written request from an administrative agency or the legislature. Moreover, nothing in this Agreement prevents the disclosure of factual information relating to claims of sexual assault, sexual harassment, harassment, discrimination, failure to prevent harassment or discrimination, or retaliation against a person for reporting an act of harassment or discrimination, as those claims are defined under the California Fair Employment and Housing Act, to the extent the claims are filed in a civil or administrative action, and to the extent such disclosures are protected by law. In addition, nothing in this Agreement prevents Executive from discussing or disclosing information about unlawful acts in the workplace, such as harassment or discrimination or any other conduct that he has reason to believe is unlawful, and Executive represents and warrants that he is not aware of any such harassment or discrimination involving the Company or the Releasees.

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**17.**&nbsp;&nbsp;&nbsp;&nbsp;**Voluntary Agreement; Authority.** Executive acknowledges that Executive is signing voluntarily after having read all the contents of this Agreement and has had the opportunity to consult with and be represented by Executive's attorney. Executive further acknowledges that Executive understands the terms and conditions of this Agreement. Executive represents and warrants that he has all necessary authority to enter into this Agreement (including, on behalf of his marital community or registered domestic partnership, if any) and that Executive has not transferred any interest in any claims to his spouse, registered domestic partner, or any third party.

**18.**&nbsp;&nbsp;&nbsp;&nbsp;**Governing Law**. This Agreement is governed in all respects by the internal, substantive laws of the State of California, without regard to choice of law principles.

**19.**&nbsp;&nbsp;&nbsp;&nbsp;**Arbitration/Waiver of Jury Trial**. Rexford Industrial and Executive agree that any disputes arising out of or relating to this Agreement shall be resolved solely and exclusively by final, binding and confidential arbitration in Los Angeles, California, before a single arbitrator pursuant to the rules of the American Arbitration Association and that such claims shall not be brought in court. Notwithstanding the foregoing, the following claims shall not be subject to this arbitration agreement: claims for workers' compensation benefits, claims for unemployment insurance benefits, claims for temporary injunctive relief, and any claims that are not arbitrable pursuant to any statute, rule or regulation forbidding pre-dispute arbitration agreements with respect to such claims. The costs of arbitration shall be borne equally by each party to the dispute and each party shall be responsible for their own legal and professional fees and expenses incurred during such dispute, except that the Company shall pay any costs of the arbitration in excess of the fees that Executive would be required to pay to initiate the claims in a court of law. To the extent applicable, each party hereby consents to the jurisdiction of the state courts of, and the federal courts encompassing, Los Angeles, California, and each party waives the right to a trial by jury for any action, suit or proceeding brought to enforce this agreement or an arbitration award rendered pursuant to this arbitration clause.

**20.**&nbsp;&nbsp;&nbsp;&nbsp;**Section 409A**. Rexford Industrial makes no representations or warranties to Executive with respect to any tax, economic or legal consequences of this Agreement or any payments or other benefits provided hereunder, including without limitation under Code Section 409A, and no provision of the Agreement shall be interpreted or construed to transfer any liability for failure to comply with Code Section 409A from Executive or any other individual to Rexford Industrial or any of its affiliates. Executive, by executing this Agreement, shall be deemed to have waived any claim against Rexford Industrial and its affiliates with respect to any such tax, economic or legal consequences. However, the parties intend that this Agreement and the payments and other benefits provided hereunder be exempt from the requirements of Code Section 409A to the maximum extent possible, whether pursuant to the short-term deferral exception described in Treasury Regulation Section 1.409A-1(b)(4), the involuntary separation pay plan exception described in Treasury Regulation Section 1.409A-1(b)(9)(iii), or otherwise. To the extent Code Section 409A is applicable to this Agreement (and such payments and benefits), the parties intend that this Agreement (and such payments and benefits) comply with the deferral, payout and other limitations and restrictions imposed under Code Section 409A. Notwithstanding any provision of this Agreement to the contrary, this Agreement shall be interpreted, operated and administered in a manner consistent with such intentions. Any right to a series of installment payments pursuant to this Agreement is to be treated as a right to a series of separate payments. Without limiting the

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generality of the foregoing, and notwithstanding any provision of this Agreement to the contrary, (a) with respect to any payments and benefits under this Agreement to which Code Section 409A applies, all references in this Agreement to the termination of Executive's employment are intended to mean Executive's "separation from service," within the meaning of Code Section 409A(a)(2)(A)(i); and (b) to the extent that any payments or benefits are conditioned on Executive's execution of the Supplemental Release and the period for consideration and revocation of the Supplemental Release spans two tax years, then such payments or benefits shall be paid or commence in the second such year to the extent required for exemption from or compliance with Code Section 409A. In addition, if Executive is a "specified employee," within the meaning of Code Section 409A(a)(2)(B)(i), at the time of his "separation from service," within the meaning of Code Section 409A(a)(2)(A)(i), then to the extent necessary to avoid subjecting Executive to the imposition of any additional tax under Code Section 409A, amounts that would otherwise be payable under this Agreement during the six-month period immediately following Executive's "separation from service," shall not be paid to Executive during such period, but shall instead be accumulated and paid to Executive (or, in the event of Executive's death, Executive's estate) in a lump sum on the first business day following the date that is six months after Executive's separation from service. To the extent that any reimbursements under this Agreement are subject to Code Section 409A, any such reimbursements payable to Executive shall be paid to Executive no later than December 31 of the year following the year in which the expense was incurred; provided that Executive submits Executive's reimbursement request promptly following the date the expense is incurred, the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year, other than medical expenses referred to in Section 105(b) of the Code, and Executive's right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. Moreover, the parties intend that this Agreement be deemed to be amended to the extent necessary to comply with the requirements of Code Section 409A and to avoid or mitigate the imposition of additional taxes under Code Section 409A, while preserving to the maximum extent possible the essential economics of Executive's rights under the Agreement.

**21.**&nbsp;&nbsp;&nbsp;&nbsp;**Severability.** If any portion of this Agreement is held to be invalid or unenforceable for any reason, the remaining covenants shall remain in full force and effect to the maximum extent permitted by law.

**22.**&nbsp;&nbsp;&nbsp;&nbsp;**Complete Agreement.** This Agreement represents and contains the entire understanding between the Parties in connection with its subject matter. Executive acknowledges that in signing this Agreement, Executive has not relied upon any representation or statement not set forth in this Agreement made by Rexford Industrial or any of its representatives. Rexford Industrial makes no representations regarding its relationship with or obligations to Executive, or as to the tax consequences of Employee's entering into this Agreement, and none it may have made in the past survive, except as expressly set forth in this Agreement. Employee expressly agrees that the Company shall have no liability to him for any tax or penalty imposed on him as a result of this Agreement. This Agreement supersedes any prior written or oral agreements or understandings, except that Executive's obligations under the Employment Agreement survive and are incorporated herein, as described in Section 12 of this Agreement.

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**23.**&nbsp;&nbsp;&nbsp;&nbsp;**Modification.** This Agreement may not be modified or discharged, in whole or in part, and no provision hereof may be waived, except in writing. No waiver of any provision on a particular occasion will affect the enforceability of such provision on subsequent occasions, and no waiver of any particular provision will affect the enforceability of any other provision.

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**IN WITNESS WHEREOF**, the parties have executed this Transition and Separation Agreement on this 17th day of November, 2025.

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| | |
|:---|:---|
| **REXFORD INDUSTRIAL REALTY, INC.** | **REXFORD INDUSTRIAL REALTY, INC.** |
|  | /s/ David Lanzer |
| By: | David Lanzer |
| Title: | General Counsel and Secretary |
| **REXFORD INDUSTRIAL REALTY, L.P.** | **REXFORD INDUSTRIAL REALTY, L.P.** |
|  | /s/ David Lanzer |
| By: | David Lanzer |
| Title: | General Counsel and Secretary |
|  | **MICHAEL S. FRANKEL** |
|  | /s/ Michael S. Frankel |

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**EXHIBIT A**

**SUPPLEMENTAL RELEASE**

By his signature below, Michael S. Frankel ("Executive") hereby releases and forever discharges as of the date hereof Rexford Industrial Realty, Inc. and the Releasees as set forth herein. Capitalized undefined terms used in this Supplemental Release shall have the meaning ascribed to them in the Transition and Separation Agreement between Executive and the Company (the "Agreement"). The Releasees are intended to be third-party beneficiaries of this Supplemental Release, and this Supplemental Release may be enforced by each of them in accordance with the terms hereof in respect of the rights granted to such Releasees hereunder. Executive agrees as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;Executive understands that the payments or benefits to be paid or granted to him under the Agreement represent, in part, consideration for signing this Supplemental Release, and are not salary, wages or benefits to which he was already entitled. ***Executive understands and agrees that he will not (a) be eligible to vest in the equity award described in Section 3 of the Agreement or (b) receive any benefits or payments specified in Section 4 of the Agreement unless he executes this Supplemental Release <u>after</u> the Separation Date (or, if earlier, the date the Company terminates the Executive's employment without Cause) and within forty-five (45) days thereof, and does not revoke this Supplemental Release (as described herein)***.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;By his signature below, Executive waives any legal rights and releases and forever discharges Rexford Industrial and the Releasees, from any and all liability, demands, claims, suits, actions, charges, damages, judgments, levies or executions, damages, whether known or unknown, liquidated, fixed, contingent, direct or indirect, which have been, could have been or could be raised or brought by Executive that related to any matter whatsoever at any time before, and including, the execution of this Supplemental Release ("Claims"). This release includes, but is not limited to, any and all Claims arising out of or related to Executive's employment with, or separation of employment from, Rexford Industrial; all contractual rights and obligations, including, without limitation, any Claims under the Employment Agreement; all Claims arising under any state or federal law, including, without limitation, any Claims pertaining to discrimination in employment, wage and hour, the Age Discrimination in Employment Act of 1967; Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Equal Pay Act of 1963, as amended; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act; the Employee Retirement Income Security Act of 1974; any applicable Executive Order Programs; the Fair Labor Standards Act; the California Fair Employment and Housing Act; the California Labor Code; the California Private Attorney General Act; the California Business and Professions Code; all California Wage Orders; the California Family Rights Act; the California Civil Code; the California Government Code; any Claim arising under any tort or other common law theories, including Claims alleging wrongful discharge, breach of contract, infliction of emotional distress, negligence, or defamation; and any claim for costs, fees, or other expenses, including attorneys' fees incurred in such matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in this Supplemental Release to the contrary, Executive does not waive any rights Executive may have (i) under COBRA; (ii) to Executive's own vested

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accrued employee benefits under the Company's health, welfare, or retirement benefit plans as of the last date of employment, including without limitation; (iii) to benefits and/or the right to seek benefits under applicable workers' compensation and/or unemployment compensation statutes; (iv) to pursue claims which by law cannot be waived, such as any claim to indemnity pursuant to section 2802 of the California Labor Code, and/or which may arise after the execution of this Supplemental Release; (v) to his rights, if any, to indemnification or advancement from the Company as an officer and/or director, whether pursuant to any agreement or by operation of law; (vi) to enforce this Agreement; and/or (vii) to challenge the validity of this Supplemental Release.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;In accordance with the Age Discrimination in Employment Act of 1967 (the "ADEA"), as amended by the Older Worker's Benefit Protection Act, Executive acknowledges and agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Agreement and this Supplemental Release is written in a manner that is understandable to him and that he has carefully read and fully understands the provisions and terms of the Agreement and this Supplemental Release and agrees to such provisions and terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Executive has been advised and hereby is advised in writing that Executive should consult with an attorney prior to executing this Supplemental Release, and Executive has obtained independent legal advice from an attorney of his own choice with respect to this Supplemental Release, or Executive has knowingly and voluntarily chosen not to do so;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Executive is not waiving rights or claims that may arise after the date that this Supplemental Release is executed by Executive;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Executive knowingly and voluntarily waives any and all rights and claims, including, but not limited to rights under the ADEA and those laws listed in Paragraph 2 above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;in consideration for executing this Supplemental Release, Executive will receive compensation of value to which Executive would not otherwise be entitled;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;in accordance with the Older Workers Benefits Protection Act, Executive has received and reviewed Schedule A appended to this Supplemental Release, which contains a list of the job titles and ages of all employees within the relevant decisional unit who have been selected for termination and are being offered severance packages in exchange for executing a release agreement, as well as those employees within such unit who are not eligible or selected and therefore have not received such an offer from the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;no promise or inducement has been offered to Executive, except as expressly set forth in the Agreement, and Executive is not relying upon any such promise or inducement in entering into this Supplemental Release.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;In signing this Supplemental Release, Executive acknowledges and intends that it shall be effective as a bar to each and every one of the Claims hereinabove mentioned or implied. Executive expressly consents that this Agreement shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and

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unsuspected claims (notwithstanding any state or local statute that expressly limits the effectiveness of a release of unknown, unsuspected and unanticipated claims), if any, as well as those relating to any other claims hereinabove mentioned or implied. Executive acknowledges that, by this Supplemental Release, he is waiving claims pursuant to California Civil Code Section 1542. California Civil Code Section 1542 provides as quoted below:

"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY."

Executive acknowledges that he may hereafter discover claims or facts in addition to or different than those which he now knows or believes to exist with respect to the subject matter of the release set forth above and which, if known or suspected at the time of entering into this Supplemental Release, may have materially affected this Supplemental Release and his decision to enter into it. Executive acknowledges and agrees that this waiver is an essential and material term of the Agreement and that without such waiver the Company would not have agreed to the terms of the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;Executive acknowledges that this Supplemental Release, together with the Agreement, represents the settlement of any and all claims and potential claims that Executive may have against the Releasees through the date Executive signs this Supplemental Release. Executive accepts the Agreement and this Supplemental Release as being in full and complete accord, satisfaction, compromise, and settlement of any and all such claims or potential claims and expressly agrees that he is not entitled to and shall not receive any further payment or recovery of any kind from the Company, and that the Company shall have no further monetary or other obligation of any kind to Executive, including any further obligation for any costs, expenses, and attorneys' fees, except as provided in the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;**Revocation Right**. After Executive executes this Supplemental Release, Executive shall have a period of seven (7) days from the date immediately following the date of execution of this Supplemental Release in which Executive may revoke this Supplemental Release at Executive's sole election by notifying Rexford Industrial in writing. The written revocation must be either personally delivered or postmarked within seven (7) calendar days of Executive's execution of this Agreement to the Company ATTN: David Lanzer, General Counsel, Rexford Industrial Realty, Inc., 11620 Wilshire Boulevard, 10th Floor, Los Angeles, CA 90025, with a copy to dlanzer@rexfordindustrial.com. In the event Executive does not exercise his right to revoke this Supplemental Release, this Supplemental Release shall become effective on the date immediately following the seven-day revocation period described above (the "Effective Date").

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BY SIGNING THIS SUPPLEMENTAL RELEASE, I REPRESENT AND AGREE THAT:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I HAVE READ IT CAREFULLY;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS, INCLUDING BUT NOT LIMITED TO, RIGHTS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, AS AMENDED, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AS AMENDED; THE EQUAL PAY ACT OF 1963, THE AMERICANS WITH DISABILITIES ACT OF 1990; AND THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I VOLUNTARILY CONSENT TO EVERYTHING IN IT;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT AND I HAVE DONE SO OR, AFTER CAREFUL READING AND CONSIDERATION, I HAVE CHOSEN NOT TO DO SO OF MY OWN VOLITION;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I HAVE HAD AT LEAST 45 DAYS FROM THE DATE OF MY RECEIPT OF THIS SUPPLEMENTAL RELEASE TO CONSIDER IT;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I UNDERSTAND THAT I HAVE SEVEN (7) DAYS AFTER THE EXECUTION OF THIS SUPPLEMENTAL RELEASE TO REVOKE IT AND THAT THIS SUPPLEMENTAL RELEASE SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I HAVE RECEIVED AND REVIEWED SCHEDULE A APPENDED TO THIS SUPPLEMENTAL RELEASE;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I HAVE SIGNED THIS SUPPLEMENTAL RELEASE KNOWINGLY AND VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO ADVISE ME WITH RESPECT TO IT; AND

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I AGREE THAT THE PROVISIONS OF THIS SUPPLEMENTAL RELEASE MAY NOT BE AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY AN INSTRUMENT IN WRITING SIGNED BY AN AUTHORIZED REPRESENTATIVE OF THE COMPANY AND BY ME.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| SIGNED: | | DATE: |
| | Michael S. Frankel | |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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**SCHEDULE A TO SUPPLEMENTAL RELEASE**

[OWBPA disclosure to be provided upon the Separation Date]

## Exhibit 10.2

**Exhibit 10.2**

**TRANSITION AND SEPARATION AGREEMENT**

This TRANSITION AND SEPARATION AGREEMENT (this "<u>Agreement</u>") is entered into between Howard Schwimmer (the "<u>Executive</u>"), on the one hand, and Rexford Industrial Realty, Inc. ("<u>Rexford Industrial</u>," or the "<u>Company</u>") and Rexford Industrial Realty, L.P. (the "Rexford Partnership"), on the other, and is effective as of November 17, 2025. Company and Executive shall each be referred to in this Agreement as a "<u>Party,</u>" and collectively as the "<u>Parties.</u>"

WHEREAS, Executive has been employed by the Company and the Rexford Partnership as Co-Chief Executive Officer ("<u>Co-CEO</u>") pursuant to that certain Employment Agreement dated July 24, 2013, as thereafter amended (the "<u>Employment Agreement</u>"), and any capitalized but undefined terms used herein shall have the meanings ascribed to them in the Employment Agreement;

WHEREAS, Executive and the Board of Directors of the Company (the "<u>Board</u>") have mutually agreed that Executive and the other Co-CEO will separate from the Company and the Rexford Partnership following a transition period;

WHEREAS, Executive and the Company wish to resolve all matters related to Executive's employment with the Company and the cessation thereof, on the terms and conditions expressed in this Agreement.

NOW THEREFORE, in consideration of the mutual promises contained herein, the Parties, intending to be legally bound, agree as follows:

**1.**&nbsp;&nbsp;&nbsp;&nbsp;**Transition and Separation Date**. Executive and the Company agree that Executive shall continue in his employment with the title of Co-CEO until March 31, 2026 (the "<u>Separation Date</u>"), unless earlier terminated by the Company for Cause (as defined in the Employment Agreement) in which case, the effective date of such termination shall become the Separation Date. Effective on the Separation Date, Executive's employment shall terminate and Executive shall be deemed to have resigned from and relinquished any and all titles, offices, directorships, and authority related to his employment with the Company and the Rexford Partnership. Notwithstanding the foregoing or anything in the Employment Agreement to the contrary, the Parties agree that nothing in this Agreement shall constitute Executive's resignation from Rexford Industrial's board of directors (the "<u>Board</u>"), and that Executive shall continue to serve as a director of the Board for the remainder of his current term (or until his earlier resignation or removal in accordance with Rexford Corporation's Articles of Amendment and Restated or Fifth Amended and Restated Bylaws, in each case, as may be amended from time to time). Further, and for the avoidance of doubt, at all times prior to the Separation Date, Executive's duties, authority and responsibilities as Co-CEO shall remain subject to revision, delegation, or limitation by the Board, in accordance with the Company's bylaws.

**2.**&nbsp;&nbsp;&nbsp;&nbsp;**Compensation During Transition; Unconditional Obligations.** Executive's compensation in connection with his services through the Separation Date shall consist solely of: (a) continued eligibility to receive the Base Salary through the Separation Date (paid in accordance with the Company's normal payroll practices); (b) continued eligibility to participate in the health, welfare and retirement benefit plans available to senior executive officers from time to time; and

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(c) continued eligibility for his Annual Bonus for 2025, in accordance with the 2025 short term incentive program approved by the Company's Compensation Committee of the Board of Directors pursuant to the Unanimous Written Consent dated March 31, 2025. Additionally, during the period of time following the Separation Date through the end of the current term of Executive's service on the Board, Executive shall be entitled to compensation for such Board service as a non-employee Director consisting of a cash payment of $62,500 paid in arrears. For the avoidance of doubt, Executive acknowledges and agrees that, notwithstanding anything in the Employment Agreement to the contrary, he shall not be entitled to receive any further compensation or equity award not otherwise specified in this Agreement. Rexford Industrial and Executive acknowledge that Executive shall be paid his salary through the Separation Date and he shall be entitled to reimbursement of business expenses through the Separation Date, if any, that shall be submitted and paid in accordance with Company business expense reimbursement policies, in each case without any other condition. Executive further acknowledges that, following the Separation Date, he shall receive notice under separate cover concerning his right to continue his insurance coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("<u>COBRA</u>") and that he is solely responsible for electing or declining such coverage and paying the applicable premiums to secure such coverage, except as set forth in <u>Section 4(c)</u>.

**3.**&nbsp;&nbsp;&nbsp;&nbsp;**Transition Equity Award.** Provided that Executive accepts and executes this Agreement, the Company shall, within five (5) business days of Executive's execution of this Agreement, grant an award of Restricted Stock (as defined in the Plan) with respect to the number of shares of the Company's common stock equal to the quotient obtained by dividing (a) $22,590,000.00 by (b) the Fair Market Value of a Share on the date of this Agreement (the "<u>Transition Restricted Stock Award</u>"). Subject to (i) Executive's continued service with the Company through March 31, 2026 (or, if earlier, through the date the Company terminates the Executive's employment without Cause), (ii) Executive's compliance with the terms of this Agreement, (iii) Executive's execution and non-revocation of the Supplemental Release attached hereto as <u>Exhibit A</u> (the "<u>Supplemental Release</u>") within forty-five (45) days of the Separation Date (or, if earlier, the date the Company terminates the Executive's employment without Cause), the Transition Restricted Stock Award (including, for the avoidance of doubt, any dividends paid with respect thereto) shall vest and become nonforfeitable on the "Effective Date" (as such term is defined in the Supplemental Release). The terms and conditions of the Transition Restricted Stock Award shall be set forth in a separate award agreement in a form prescribed by the Company (the "<u>Restricted Stock Award Agreement</u>"), to be entered into by the Company and Executive, which shall evidence the grant of the Transition Restricted Stock Award.

**4.&nbsp;&nbsp;&nbsp;&nbsp;Severance Benefits.** Provided that Executive accepts and executes this Agreement, complies with its terms, is not terminated for Cause, and executes and does not revoke the Supplemental Release within forty-five (45) days of the Separation Date (or, if earlier, the date the Company terminates the Executive's employment without Cause), the Company will provide Executive with the following payments and benefits:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a)&nbsp;&nbsp;&nbsp;&nbsp;a lump sum payment in a total gross amount calculated as a pro rata portion of Executive's Target Bonus for 2026 through the Separation Date, paid (subject to Section 20) on the sixtieth (60th) day after the Separation Date (or, if earlier, the date the Company terminates the Executive's employment without Cause);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b)&nbsp;&nbsp;&nbsp;&nbsp;the Company shall cause each outstanding award under the Plan that vests based solely on continued service to the Company and that is held by Executive on the Separation Date (or, if earlier, the date the Company terminates the Executive's employment without Cause) to become fully vested upon the Effective Date of the Supplemental Release, whereas Executive's outstanding equity awards that vest based upon Company performance will not be treated as fully vested and/or accelerated, but instead will be treated as though Executive's termination of employment on the Separation Date (or, if earlier, the date the Company terminates the Executive's employment without Cause) constitutes a "Qualifying Termination" (as defined in the applicable award agreements), such that those performance-based awards shall remain eligible to vest in accordance with their terms; for the avoidance of doubt, except as expressly set forth herein, Executive's outstanding equity awards otherwise remain subject to the terms and conditions of the Plan and the relevant award agreements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c)&nbsp;&nbsp;&nbsp;&nbsp;if Executive timely elects to receive continued coverage under the Company's group health care plan pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("<u>COBRA</u>"), Executive shall be responsible for paying the full costs of the applicable COBRA premium for COBRA coverage under such plan (as in effect or amended from time to time), and the Company will then reimburse Executive on a monthly basis, within ten (10) days after its receipt of sufficient documentation of payment by Executive of the applicable monthly premium (which documentation Executive shall submit to the Company within ten (10) days after such payment by Executive), for a portion (the "<u>COBRA Subsidy</u>") of such applicable COBRA premium payment(s) paid by Executive for the period from the Separation Date (or, if earlier, the date the Company terminates the Executive's employment without Cause) until (i) eighteen (18) months following the Separation Date (or, if earlier, the date the Company terminates the Executive's employment without Cause) (such period referred to as the "<u>COBRA Subsidy Period</u>"). The COBRA Subsidy for a given month shall be an amount equal to the employer share of the premium that the Company otherwise would pay for such group health care plan coverage if Executive were an active employee as of such month. Executive shall be responsible for paying the full unsubsidized costs (without any COBRA Subsidy) of the applicable COBRA premium for any and all COBRA coverage after the COBRA Subsidy Period.

Executive acknowledges that (i) all payments to him pursuant to this Agreement (and the Restricted Stock Award Agreement) shall be subject to all applicable taxes and withholdings and reported on a Form W-2 and (ii) except as otherwise set forth in Section 3 and Section 4 of this Agreement, Executive has no other rights to any payments or benefits in connection with Executive's separation from the Company.

**5.**&nbsp;&nbsp;&nbsp;&nbsp;**Affirmation by Executive**. Executive affirms that as of the date of this Agreement, he has been paid and/or has received all leave (paid or unpaid); compensation, wages, bonuses, and/or commissions, including for all hours of work, including any and all overtime hours worked; and/or benefits to which he may be entitled, and that no other leave (paid or unpaid), compensation, wages, bonuses, commissions and/or benefits are due to Executive, except as provided in this Agreement. Executive further affirms that he has no known workplace injuries or occupational

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diseases and has been provided and/or has not been denied any leave to which Executive was entitled under the Family and Medical Leave Act or related state or local laws. Executive further affirms that he has not been retaliated against for reporting any allegations of wrongdoing by the Company or its officers, including any allegations of corporate fraud. Executive further affirms that he has not raised any claim the factual foundation for which involves discrimination.

**6.**&nbsp;&nbsp;&nbsp;&nbsp;**No Initiated Claims.** Executive represents that he has not filed any claims or charges against Rexford Industrial with any court or with the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, or any other federal, state or local governmental agency or commission ("<u>Government Agencies</u>"); it being understood that nothing herein requires Executive to disclose any prior reporting of suspected violations of law to the Securities and Exchange Commission. Executive further represents he has not assigned to any third party the right to bring a claim or charge against Rexford Industrial with any Governmental Agencies or court. Executive waives any right to recover damages from any claims or litigation asserted by any third party as consideration for the pay and other benefits provided in this Agreement. Nothing in this Agreement shall be construed to prohibit Executive from filing a charge with or participating in any investigation or proceeding conducted by any Government Agencies, including providing documents or other information without notice to Rexford Industrial. This Agreement does not limit Executive's right to receive an award for information provided to any Government Agencies.

**7.**&nbsp;&nbsp;&nbsp;&nbsp;**Release of Claims.** Executive waives any legal rights and releases and forever discharges Rexford Industrial, Rexford Partnership, and all affiliated and/or related entities of either of them, including, but not limited to, each of their shareholders, partners, directors, officers, agents, trustees, employees, attorneys, successors, and assigns (the "<u>Releasees</u>"), from any and all liability, demands, claims, suits, actions, charges, damages, judgments, levies or executions, damages, whether known or unknown, liquidated, fixed, contingent, direct or indirect, which have been, could have been or could be raised or brought by Executive that related to any matter whatsoever at any time before, and including, the execution of this Agreement ("<u>Claims</u>"). This release includes, but is not limited to, any and all Claims arising out of or related to Executive's employment with, or separation of employment from, Rexford Industrial; all contractual rights and obligations, including, without limitation, any Claims under any employment agreement or severance plan; all Claims arising under any state or federal law, including, without limitation, any Claims pertaining to discrimination in employment, wage and hour, Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Equal Pay Act of 1963, as amended; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act; the Employee Retirement Income Security Act of 1974; any applicable Executive Order Programs; the Fair Labor Standards Act; the California Fair Employment and Housing Act; the California Labor Code; the California Private Attorneys General Act; the California Business and Professions Code; all California Wage Orders; the California Family Rights Act; the California Civil Code; the California Government Code; any Claim arising under any tort or other common law theories, including Claims alleging wrongful discharge, breach of contract, infliction of emotional distress, negligence, or defamation; and any claim for costs, fees, or other expenses, including attorneys' fees incurred in such matters. Notwithstanding anything in this Agreement to the contrary, Executive does not waive any rights Executive may have (i) under COBRA; (ii) to Executive's own vested accrued employee benefits

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under the Company's health, welfare, or retirement benefit plans as of the last date of employment; (iii) to benefits and/or the right to seek benefits under applicable workers' compensation and/or unemployment compensation statutes; (iv) to pursue claims which by law cannot be waived, such as any claim to indemnity pursuant to section 2802 of the California Labor Code; (v) to his rights, if any, to indemnification or advancement from the Company as an officer and/or director, whether pursuant to any agreement or by operation of law; and/or (vi) to enforce this Agreement. In signing this Agreement, Executive acknowledges and intends that it shall be effective as a bar to each and every one of the Claims hereinabove mentioned or implied. Executive expressly consents that this Agreement shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected claims (notwithstanding any state or local statute that expressly limits the effectiveness of a release of unknown, unsuspected and unanticipated claims), if any, as well as those relating to any other claims hereinabove mentioned or implied. Executive acknowledges that, by this Agreement, he is waiving claims pursuant to California Civil Code Section 1542. California Civil Code Section 1542 provides as quoted below:

"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY."

Executive acknowledges that he may hereafter discover claims or facts in addition to or different than those which he now knows or believes to exist with respect to the subject matter of the release set forth above and which, if known or suspected at the time of entering into this Agreement, may have materially affected this Agreement and his decision to enter into it. Executive acknowledges and agrees that this waiver is an essential and material term of this Agreement and that without such waiver the Company would not have agreed to the terms of this Agreement.

**8.**&nbsp;&nbsp;&nbsp;&nbsp;**Clawback; Recovery**. All payments and benefits provided herein will be subject to recoupment in accordance with any clawback policy that the Company is required to adopt (and has adopted) pursuant to the listing standards of any national securities exchange or association on which the Company's securities are listed or as is otherwise required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or other applicable law.

**9.**&nbsp;&nbsp;&nbsp;&nbsp;**No Admissions; Representation by the Company.** This Agreement shall not be construed as an admission by Rexford Industrial, any Releasees, or Executive that they acted wrongfully or engaged in any misconduct or impropriety. It simply reflects the Parties' desire to end their employment relationship in a business-like fashion. The Company and the Rexford Partnership represent and warrant to Executive that, as of the execution of this Agreement, neither the Company nor the Rexford Partnership nor, to their knowledge, any Releasee, has filed, and, there are no facts or circumstances known to the Company's Board that would reasonably be expected to give rise to, any claim, action, or proceeding by the Company or any other Releasee against Executive. The Company further represents that its Board is not aware of any basis for

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asserting that Executive has engaged in conduct that would constitute Cause or that would otherwise give rise to any liability of Executive to the Company or any other Releasee.

**10.**&nbsp;&nbsp;&nbsp;&nbsp;**Company Property.** Executive agrees that, no later than the Separation Date, he shall return all property of the Company, Rexford Partnership or their affiliates in his possession, including, without limitation, electronically-stored information or data, reports, customer lists, files, memoranda, records, credit cards, keys, passwords, software, telecommunication equipment, and other physical or personal property that Executive received, prepared, or helped prepare in connection with Executive's employment ("<u>Company Property</u>"); <u>provided, however</u>, that Executive shall be permitted to keep any phones, computers, laptops, tablets, Starlink receivers, and accessories to any of the foregoing previously issued to Executive from the Company, <u>provided, further</u>, that the Company and Executive shall reasonably cooperate regarding the removal of any Company Property on all devices retained by Executive hereunder and, once the same has been removed, the Company shall be deemed hereby to assign, convey, and transfer all right, title, and interest in such devices. Executive further agrees to reasonably cooperate, as requested by the Company from time to time, to transfer to the Company's name (without condition or payment) any accounts, licenses, permits, subscriptions and similar rights that were established, maintained, or used in connection with the business of the Company (including, without limitation, any online accounts, club memberships, periodical subscriptions, entertainment and sporting seat licenses and similar matters) that may be held in the Executive's name. Executive agrees that, in the event that Executive subsequently discovers any Company Property in Executive's possession, Executive will promptly return the same to the Company. Executive agrees to execute a written certification confirming his compliance with his obligations hereunder upon request by the Company. The Company and Executive agree that Executive shall not be required to return any Company-branded personal items primarily used for marketing purposes ("swag") and, further, that upon Executive's request (once per year during the ten years following the Separation Date), the Company shall supply him with a reasonable selection of then-current additional swag at no cost to Executive.

**11.**&nbsp;&nbsp;&nbsp;&nbsp;**Cooperation.** Executive agrees to make himself reasonably available to, and to fully cooperate with the Company in, any internal investigation or administrative, regulatory, or judicial inquiry, investigation, proceeding or arbitration, and the Company shall make reasonable efforts to schedule such cooperation in a manner that minimizes any interference with Executive's professional and personal commitments. Notwithstanding the foregoing, Executive shall not be required to devote more than twenty (20) hours in any calendar year to such cooperation without receiving reasonable compensation from the Company for additional time spent, at a reasonable hourly rate mutually agreed upon by the Parties (which rate shall take into account Executive's then-current professional and personal commitments). Executive understands and agrees that his cooperation includes, but is not limited to, making himself available to the Company upon reasonable notice for interviews and factual investigations; appearing at the Company's request to give testimony without requiring service of a subpoena or other legal process; volunteering to the Company pertinent information; and turning over all relevant documents which are or may come into his possession. The term "cooperation" does not mean that Executive must provide information that is favorable to the Company; it means only that Executive will provide truthful information within his knowledge and possession upon request of the Company. Executive understands that, if the Company asks for his cooperation in accordance with this provision, or he

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is required to participate in an administrative or legal proceeding or arbitration related to matters within the scope of his employment at the Company, the Company will reimburse him for reasonable travel and similar expenses provided that Executive submits to the Company appropriate documentation of such expenses within thirty (30) calendar days after such expenses are incurred (provided that such proceeding was not initiated by Executive and does not otherwise concern any claims by Executive against the Company or any Releasees).

**12.&nbsp;&nbsp;&nbsp;&nbsp;Continuing Obligations; D&O Insurance.** Executive reaffirms his obligations of confidentiality and non-solicitation set forth in the Employment Agreement, represents and warrants that he has not breached the same, and understands that such obligations continue after termination of employment and execution of this Agreement; <u>provided, however</u>, that the parties acknowledge that Executive's confidentiality obligations are subject to the exceptions set forth in Section 16 herein. The Parties incorporate such obligations into this Agreement as if fully set forth herein and acknowledge that Executive's breach of those obligations shall constitute a breach of this Agreement. Further, the Parties agree that nothing herein shall limit Executive's rights or the Company's obligations under that certain Tax Matters Agreement dated as of July 24, 2013 (the "Tax Matters Agreement"), by and among Rexford Corporation, Rexford Partnership, and each "Protected Partner" and "Guaranty Partner" signatory thereto, which the Parties agree shall continue in full force and effect pursuant to and in accordance with its terms. The Company agrees to maintain Directors and Officers insurance covering Executive for a period of at least six (6) years following the Separation Date, on terms no less favorable, in the aggregate, to the terms of such coverage that the Company provides to its current directors and officers during such time, for any and all claims that have arisen or may arise out of Executive's employment or service as an officer or director of the Company or the Rexford Partnership.

**13.**&nbsp;&nbsp;&nbsp;&nbsp;**Intellectual Property**. Executive acknowledges that the Company owns the sole and exclusive right, title and interest in and to any and all Works (as defined below), including, without limitation, any and all source code or other intellectual property and further including, without limitation, all copyrights, trademarks, service marks, trade names, slogans, patents, ideas, designs, concepts, design rights, database rights, utility models, track records, inventions, drawings, rights in computer programs (including both object code and source code), computer programs (including both object code and source code), and whether registered or unregistered, applications for registration of any of the foregoing and the right to apply for them in any part of the world, and other proprietary rights. As used herein, "<u>Works</u>" means (i) any inventions, developments, improvements, trade secrets, ideas or original works of authorship that Executive conceived, created, developed, discovered, made, acquired or reduced to practice in whole or in part, either solely or jointly with another or others, during or pursuant to the course of Executive's employment by the Company and that relate to the Company or its businesses, or to the Company's actual or demonstrably anticipated research or development, (ii) any inventions, developments, improvements, trade secrets, ideas or original works of authorship that Executive conceived, created, developed, discovered, made, acquired or reduced to practice in whole or in part, either solely or jointly with another or others, during or pursuant to the course of Executive's employment by the Company and that were made through the use of any of the Company's equipment, facilities, supplies, trade secrets or time, or that resulted from any work performed for the Company, and (iii) any part or aspect of any of the foregoing. Rexford Industrial's right, title and interest in and to the Works includes without limitation the sole and exclusive right to secure and own copyrights

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and maintain renewals throughout the world, and the right to modify and create derivative works of or from the Works without any payment of any kind to Executive. Executive agrees to cooperate with the Company to execute documents or otherwise provide any reasonable assistance requested by the Company to perfect his assignment of any intellectual property rights in favor of the Company. Executive acknowledges that he has been notified and understands that the provisions of this Section 13 do not apply to any Works that qualify fully under the provisions of Section 2870 of the California Labor Code, which states as follows:

ANY PROVISION IN AN EMPLOYMENT AGREEMENT WHICH PROVIDES THAT AN EMPLOYEE SHALL ASSIGN, OR OFFER TO ASSIGN, ANY OF HIS OR HER RIGHTS IN AN INVENTION TO HIS OR HER EMPLOYER SHALL NOT APPLY TO AN INVENTION THAT THE EMPLOYEE DEVELOPED ENTIRELY ON HIS OR HER OWN TIME WITHOUT USING THE EMPLOYER'S EQUIPMENT, SUPPLIES, FACILITIES, OR TRADE SECRET INFORMATION EXCEPT FOR THOSE INVENTIONS THAT EITHER: (1) RELATE AT THE TIME OF CONCEPTION OR REDUCTION TO PRACTICE OF THE INVENTION TO THE EMPLOYER'S BUSINESS, OR ACTUAL OR DEMONSTRABLY ANTICIPATED RESEARCH OR DEVELOPMENT OF THE EMPLOYER; OR (2) RESULT FROM ANY WORK PERFORMED BY THE EMPLOYEE FOR THE EMPLOYER. TO THE EXTENT A PROVISION IN AN EMPLOYMENT AGREEMENT PURPORTS TO REQUIRE AN EMPLOYEE TO ASSIGN AN INVENTION OTHERWISE EXCLUDED FROM BEING REQUIRED TO BE ASSIGNED UNDER CALIFORNIA LABOR CODE SECTION 2870(a), THE PROVISION IS AGAINST THE PUBLIC POLICY OF THIS STATE AND IS UNENFORCEABLE.

**14.**&nbsp;&nbsp;&nbsp;&nbsp;**Non-Disparagement.** Subject to the exceptions set forth in Section 16 of this Agreement, Executive agrees that he will not make any statement to any third party that is intended to or is reasonably likely to disparage, slander or otherwise damage the business reputation of the Company or any of the other Releasees; <u>provided, however</u>, that the preceding language shall not limit Executive's ability to (i) make truthful statements or disclosures that are required by applicable law, regulation or legal process; (ii) request or receive confidential legal advice; (iii) make truthful statements that are reasonably necessary in connection with the enforcement of this Agreement or any other agreement between Executive and the Company. Each of the Company and the Rexford Partnership agrees that it shall instruct its directors and officers (as applicable) not to make any statements concerning Executive that are intended to or are reasonably likely to disparage, slander or otherwise damage the business reputation of Executive, other than truthful statements to any Government Agencies.

**15.**&nbsp;&nbsp;&nbsp;&nbsp;**No Assistance to Litigants.** Executive agrees that Executive will not aid, advise or otherwise assist any competitor of the Company, stockholder of the Company, litigant or potential

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litigant against the Company (each, a "<u>Potential Adverse Party,</u>" and, for the avoidance of doubt, this defined term excludes any governmental or regulatory authority) in asserting, prosecuting, or defending any claim, or making any other demands, against the Company, and, further, Executive shall promptly notify the Company if, at any time within the two (2)-year period following the end of Executive's service on the Board, Executive is approached by any Potential Adverse Party to provide assistance concerning any such matters; <u>provided, however</u>, that the preceding language shall not limit Executive's ability to (i) make truthful statements or disclosures that are required by applicable law, regulation or legal process; (ii) request or receive confidential legal advice; (iii) cooperate, participate, or file charges with any federal, state or local government agency; (iv) report suspected violations of law; or (v) enforce this Agreement or any other agreement between Executive and the Company.

**16.**&nbsp;&nbsp;&nbsp;&nbsp;**Exceptions**. Notwithstanding anything herein that could be construed to the contrary, Executive acknowledges and agrees that nothing in this Agreement or in any agreement between him and the Company or the Rexford Partnership prohibits or limits him (or his attorney) from initiating communications directly with, responding to any inquiry from, volunteering information to, or providing testimony before the Securities and Exchange Commission (SEC), the Department of Justice, any regulatory or self-regulatory organization, or any other governmental, law enforcement, or regulatory authority, regarding this Agreement and its underlying facts and circumstances, or any reporting of, investigation into, or proceeding regarding suspected violations of law, and that he is not required to advise or seek permission from the Company before or after engaging in any such activity. Executive further acknowledges that, in connection with any such activity, he must inform such authority of the confidential nature of any confidential information that he provides, and that he is not permitted to disclose any information that is protected by the attorney-client privilege or any other privilege belonging to the Company, as the Company does not waive and intends to preserve such privileges. Executive is hereby notified that, pursuant to federal law (the Defend Trade Secrets Act), an individual, shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is (i) made in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney solely for the purpose of reporting or investigating a suspected violation of law; or (ii) made in a complaint or other document filed in a lawsuit or other proceeding if such filing is made under seal. Further, nothing in this Agreement prohibits Executive from testifying in an administrative, legislative or judicial proceeding regarding alleged criminal conduct or sexual harassment, when Executive has been required or requested to attend a proceeding pursuant to court order, subpoena, or written request from an administrative agency or the legislature. Moreover, nothing in this Agreement prevents the disclosure of factual information relating to claims of sexual assault, sexual harassment, harassment, discrimination, failure to prevent harassment or discrimination, or retaliation against a person for reporting an act of harassment or discrimination, as those claims are defined under the California Fair Employment and Housing Act, to the extent the claims are filed in a civil or administrative action, and to the extent such disclosures are protected by law. In addition, nothing in this Agreement prevents Executive from discussing or disclosing information about unlawful acts in the workplace, such as harassment or discrimination or any other conduct that he has reason to believe is unlawful, and Executive represents and warrants that he is not aware of any such harassment or discrimination involving the Company or the Releasees.

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**17.**&nbsp;&nbsp;&nbsp;&nbsp;**Voluntary Agreement; Authority.** Executive acknowledges that Executive is signing voluntarily after having read all the contents of this Agreement and has had the opportunity to consult with and be represented by Executive's attorney. Executive further acknowledges that Executive understands the terms and conditions of this Agreement. Executive represents and warrants that he has all necessary authority to enter into this Agreement (including, on behalf of his marital community or registered domestic partnership, if any) and that Executive has not transferred any interest in any claims to his spouse, registered domestic partner, or any third party.

**18.**&nbsp;&nbsp;&nbsp;&nbsp;**Governing Law**. This Agreement is governed in all respects by the internal, substantive laws of the State of California, without regard to choice of law principles.

**19.**&nbsp;&nbsp;&nbsp;&nbsp;**Arbitration/Waiver of Jury Trial**. Rexford Industrial and Executive agree that any disputes arising out of or relating to this Agreement shall be resolved solely and exclusively by final, binding and confidential arbitration in Los Angeles, California, before a single arbitrator pursuant to the rules of the American Arbitration Association and that such claims shall not be brought in court. Notwithstanding the foregoing, the following claims shall not be subject to this arbitration agreement: claims for workers' compensation benefits, claims for unemployment insurance benefits, claims for temporary injunctive relief, and any claims that are not arbitrable pursuant to any statute, rule or regulation forbidding pre-dispute arbitration agreements with respect to such claims. The costs of arbitration shall be borne equally by each party to the dispute and each party shall be responsible for their own legal and professional fees and expenses incurred during such dispute, except that the Company shall pay any costs of the arbitration in excess of the fees that Executive would be required to pay to initiate the claims in a court of law. To the extent applicable, each party hereby consents to the jurisdiction of the state courts of, and the federal courts encompassing, Los Angeles, California, and each party waives the right to a trial by jury for any action, suit or proceeding brought to enforce this agreement or an arbitration award rendered pursuant to this arbitration clause.

**20.**&nbsp;&nbsp;&nbsp;&nbsp;**Section 409A**. Rexford Industrial makes no representations or warranties to Executive with respect to any tax, economic or legal consequences of this Agreement or any payments or other benefits provided hereunder, including without limitation under Code Section 409A, and no provision of the Agreement shall be interpreted or construed to transfer any liability for failure to comply with Code Section 409A from Executive or any other individual to Rexford Industrial or any of its affiliates. Executive, by executing this Agreement, shall be deemed to have waived any claim against Rexford Industrial and its affiliates with respect to any such tax, economic or legal consequences. However, the parties intend that this Agreement and the payments and other benefits provided hereunder be exempt from the requirements of Code Section 409A to the maximum extent possible, whether pursuant to the short-term deferral exception described in Treasury Regulation Section 1.409A-1(b)(4), the involuntary separation pay plan exception described in Treasury Regulation Section 1.409A-1(b)(9)(iii), or otherwise. To the extent Code Section 409A is applicable to this Agreement (and such payments and benefits), the parties intend that this Agreement (and such payments and benefits) comply with the deferral, payout and other limitations and restrictions imposed under Code Section 409A. Notwithstanding any provision of this Agreement to the contrary, this Agreement shall be interpreted, operated and administered in a manner consistent with such intentions. Any right to a series of installment payments pursuant to this Agreement is to be treated as a right to a series of separate payments. Without limiting the

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generality of the foregoing, and notwithstanding any provision of this Agreement to the contrary, (a) with respect to any payments and benefits under this Agreement to which Code Section 409A applies, all references in this Agreement to the termination of Executive's employment are intended to mean Executive's "separation from service," within the meaning of Code Section 409A(a)(2)(A)(i); and (b) to the extent that any payments or benefits are conditioned on Executive's execution of the Supplemental Release and the period for consideration and revocation of the Supplemental Release spans two tax years, then such payments or benefits shall be paid or commence in the second such year to the extent required for exemption from or compliance with Code Section 409A. In addition, if Executive is a "specified employee," within the meaning of Code Section 409A(a)(2)(B)(i), at the time of his "separation from service," within the meaning of Code Section 409A(a)(2)(A)(i), then to the extent necessary to avoid subjecting Executive to the imposition of any additional tax under Code Section 409A, amounts that would otherwise be payable under this Agreement during the six-month period immediately following Executive's "separation from service," shall not be paid to Executive during such period, but shall instead be accumulated and paid to Executive (or, in the event of Executive's death, Executive's estate) in a lump sum on the first business day following the date that is six months after Executive's separation from service. To the extent that any reimbursements under this Agreement are subject to Code Section 409A, any such reimbursements payable to Executive shall be paid to Executive no later than December 31 of the year following the year in which the expense was incurred; provided that Executive submits Executive's reimbursement request promptly following the date the expense is incurred, the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year, other than medical expenses referred to in Section 105(b) of the Code, and Executive's right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. Moreover, the parties intend that this Agreement be deemed to be amended to the extent necessary to comply with the requirements of Code Section 409A and to avoid or mitigate the imposition of additional taxes under Code Section 409A, while preserving to the maximum extent possible the essential economics of Executive's rights under the Agreement.

**21.**&nbsp;&nbsp;&nbsp;&nbsp;**Severability.** If any portion of this Agreement is held to be invalid or unenforceable for any reason, the remaining covenants shall remain in full force and effect to the maximum extent permitted by law.

**22.**&nbsp;&nbsp;&nbsp;&nbsp;**Complete Agreement.** This Agreement represents and contains the entire understanding between the Parties in connection with its subject matter. Executive acknowledges that in signing this Agreement, Executive has not relied upon any representation or statement not set forth in this Agreement made by Rexford Industrial or any of its representatives. Rexford Industrial makes no representations regarding its relationship with or obligations to Executive, or as to the tax consequences of Employee's entering into this Agreement, and none it may have made in the past survive, except as expressly set forth in this Agreement. Employee expressly agrees that the Company shall have no liability to him for any tax or penalty imposed on him as a result of this Agreement. This Agreement supersedes any prior written or oral agreements or understandings, except that Executive's obligations under the Employment Agreement survive and are incorporated herein, as described in Section 12 of this Agreement.

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**23.**&nbsp;&nbsp;&nbsp;&nbsp;**Modification.** This Agreement may not be modified or discharged, in whole or in part, and no provision hereof may be waived, except in writing. No waiver of any provision on a particular occasion will affect the enforceability of such provision on subsequent occasions, and no waiver of any particular provision will affect the enforceability of any other provision.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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**IN WITNESS WHEREOF**, the parties have executed this Transition and Separation Agreement on this 17th day of November, 2025.

---

| | |
|:---|:---|
| **REXFORD INDUSTRIAL REALTY, INC.** | **REXFORD INDUSTRIAL REALTY, INC.** |
|  | /s/ David Lanzer |
| By: | David Lanzer |
| Title: | General Counsel and Secretary |
| **REXFORD INDUSTRIAL REALTY, L.P.** | **REXFORD INDUSTRIAL REALTY, L.P.** |
|  | /s/ David Lanzer |
| By: | David Lanzer |
| Title: | General Counsel and Secretary |
|  | **HOWARD SCHWIMMER** |
|  | /s/ Howard Schwimmer |

---

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**EXHIBIT A**

**SUPPLEMENTAL RELEASE**

By his signature below, Howard Schwimmer ("Executive") hereby releases and forever discharges as of the date hereof Rexford Industrial Realty, Inc. and the Releasees as set forth herein. Capitalized undefined terms used in this Supplemental Release shall have the meaning ascribed to them in the Transition and Separation Agreement between Executive and the Company (the "Agreement"). The Releasees are intended to be third-party beneficiaries of this Supplemental Release, and this Supplemental Release may be enforced by each of them in accordance with the terms hereof in respect of the rights granted to such Releasees hereunder. Executive agrees as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;Executive understands that the payments or benefits to be paid or granted to him under the Agreement represent, in part, consideration for signing this Supplemental Release, and are not salary, wages or benefits to which he was already entitled. ***Executive understands and agrees that he will not (a) be eligible to vest in the equity award described in Section 3 of the Agreement or (b) receive any benefits or payments specified in Section 4 of the Agreement unless he executes this Supplemental Release <u>after</u> the Separation Date (or, if earlier, the date the Company terminates the Executive's employment without Cause) and within forty-five (45) days thereof, and does not revoke this Supplemental Release (as described herein)***.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;By his signature below, Executive waives any legal rights and releases and forever discharges Rexford Industrial and the Releasees, from any and all liability, demands, claims, suits, actions, charges, damages, judgments, levies or executions, damages, whether known or unknown, liquidated, fixed, contingent, direct or indirect, which have been, could have been or could be raised or brought by Executive that related to any matter whatsoever at any time before, and including, the execution of this Supplemental Release ("Claims"). This release includes, but is not limited to, any and all Claims arising out of or related to Executive's employment with, or separation of employment from, Rexford Industrial; all contractual rights and obligations, including, without limitation, any Claims under the Employment Agreement; all Claims arising under any state or federal law, including, without limitation, any Claims pertaining to discrimination in employment, wage and hour, the Age Discrimination in Employment Act of 1967; Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Equal Pay Act of 1963, as amended; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act; the Employee Retirement Income Security Act of 1974; any applicable Executive Order Programs; the Fair Labor Standards Act; the California Fair Employment and Housing Act; the California Labor Code; the California Private Attorney General Act; the California Business and Professions Code; all California Wage Orders; the California Family Rights Act; the California Civil Code; the California Government Code; any Claim arising under any tort or other common law theories, including Claims alleging wrongful discharge, breach of contract, infliction of emotional distress, negligence, or defamation; and any claim for costs, fees, or other expenses, including attorneys' fees incurred in such matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in this Supplemental Release to the contrary, Executive does not waive any rights Executive may have (i) under COBRA; (ii) to Executive's own vested

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accrued employee benefits under the Company's health, welfare, or retirement benefit plans as of the last date of employment, including without limitation; (iii) to benefits and/or the right to seek benefits under applicable workers' compensation and/or unemployment compensation statutes; (iv) to pursue claims which by law cannot be waived, such as any claim to indemnity pursuant to section 2802 of the California Labor Code, and/or which may arise after the execution of this Supplemental Release; (v) to his rights, if any, to indemnification or advancement from the Company as an officer and/or director, whether pursuant to any agreement or by operation of law; (vi) to enforce this Agreement; and/or (vii) to challenge the validity of this Supplemental Release.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;In accordance with the Age Discrimination in Employment Act of 1967 (the "ADEA"), as amended by the Older Worker's Benefit Protection Act, Executive acknowledges and agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Agreement and this Supplemental Release is written in a manner that is understandable to him and that he has carefully read and fully understands the provisions and terms of the Agreement and this Supplemental Release and agrees to such provisions and terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Executive has been advised and hereby is advised in writing that Executive should consult with an attorney prior to executing this Supplemental Release, and Executive has obtained independent legal advice from an attorney of his own choice with respect to this Supplemental Release, or Executive has knowingly and voluntarily chosen not to do so;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Executive is not waiving rights or claims that may arise after the date that this Supplemental Release is executed by Executive;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Executive knowingly and voluntarily waives any and all rights and claims, including, but not limited to rights under the ADEA and those laws listed in Paragraph 2 above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;in consideration for executing this Supplemental Release, Executive will receive compensation of value to which Executive would not otherwise be entitled;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;in accordance with the Older Workers Benefits Protection Act, Executive has received and reviewed Schedule A appended to this Supplemental Release, which contains a list of the job titles and ages of all employees within the relevant decisional unit who have been selected for termination and are being offered severance packages in exchange for executing a release agreement, as well as those employees within such unit who are not eligible or selected and therefore have not received such an offer from the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;no promise or inducement has been offered to Executive, except as expressly set forth in the Agreement, and Executive is not relying upon any such promise or inducement in entering into this Supplemental Release.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;In signing this Supplemental Release, Executive acknowledges and intends that it shall be effective as a bar to each and every one of the Claims hereinabove mentioned or implied. Executive expressly consents that this Agreement shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and

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unsuspected claims (notwithstanding any state or local statute that expressly limits the effectiveness of a release of unknown, unsuspected and unanticipated claims), if any, as well as those relating to any other claims hereinabove mentioned or implied. Executive acknowledges that, by this Supplemental Release, he is waiving claims pursuant to California Civil Code Section 1542. California Civil Code Section 1542 provides as quoted below:

"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY."

Executive acknowledges that he may hereafter discover claims or facts in addition to or different than those which he now knows or believes to exist with respect to the subject matter of the release set forth above and which, if known or suspected at the time of entering into this Supplemental Release, may have materially affected this Supplemental Release and his decision to enter into it. Executive acknowledges and agrees that this waiver is an essential and material term of the Agreement and that without such waiver the Company would not have agreed to the terms of the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;Executive acknowledges that this Supplemental Release, together with the Agreement, represents the settlement of any and all claims and potential claims that Executive may have against the Releasees through the date Executive signs this Supplemental Release. Executive accepts the Agreement and this Supplemental Release as being in full and complete accord, satisfaction, compromise, and settlement of any and all such claims or potential claims and expressly agrees that he is not entitled to and shall not receive any further payment or recovery of any kind from the Company, and that the Company shall have no further monetary or other obligation of any kind to Executive, including any further obligation for any costs, expenses, and attorneys' fees, except as provided in the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;**Revocation Right**. After Executive executes this Supplemental Release, Executive shall have a period of seven (7) days from the date immediately following the date of execution of this Supplemental Release in which Executive may revoke this Supplemental Release at Executive's sole election by notifying Rexford Industrial in writing. The written revocation must be either personally delivered or postmarked within seven (7) calendar days of Executive's execution of this Agreement to the Company ATTN: David Lanzer, General Counsel, Rexford Industrial Realty, Inc., 11620 Wilshire Boulevard, 10th Floor, Los Angeles, CA 90025, with a copy to dlanzer@rexfordindustrial.com. In the event Executive does not exercise his right to revoke this Supplemental Release, this Supplemental Release shall become effective on the date immediately following the seven-day revocation period described above (the "Effective Date").

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BY SIGNING THIS SUPPLEMENTAL RELEASE, I REPRESENT AND AGREE THAT:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I HAVE READ IT CAREFULLY;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS, INCLUDING BUT NOT LIMITED TO, RIGHTS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, AS AMENDED, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AS AMENDED; THE EQUAL PAY ACT OF 1963, THE AMERICANS WITH DISABILITIES ACT OF 1990; AND THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I VOLUNTARILY CONSENT TO EVERYTHING IN IT;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT AND I HAVE DONE SO OR, AFTER CAREFUL READING AND CONSIDERATION, I HAVE CHOSEN NOT TO DO SO OF MY OWN VOLITION;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I HAVE HAD AT LEAST 45 DAYS FROM THE DATE OF MY RECEIPT OF THIS SUPPLEMENTAL RELEASE TO CONSIDER IT;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I UNDERSTAND THAT I HAVE SEVEN (7) DAYS AFTER THE EXECUTION OF THIS SUPPLEMENTAL RELEASE TO REVOKE IT AND THAT THIS SUPPLEMENTAL RELEASE SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I HAVE RECEIVED AND REVIEWED SCHEDULE A APPENDED TO THIS SUPPLEMENTAL RELEASE;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I HAVE SIGNED THIS SUPPLEMENTAL RELEASE KNOWINGLY AND VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO ADVISE ME WITH RESPECT TO IT; AND

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• I AGREE THAT THE PROVISIONS OF THIS SUPPLEMENTAL RELEASE MAY NOT BE AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY AN INSTRUMENT IN WRITING SIGNED BY AN AUTHORIZED REPRESENTATIVE OF THE COMPANY AND BY ME.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| SIGNED: | | DATE: |
| | Howard Schwimmer | |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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**SCHEDULE A TO SUPPLEMENTAL RELEASE**

[OWBPA disclosure to be provided upon the Separation Date]

## Exhibit 99.1

**Exhibit 99.1**

![image_0a.jpg](image_0a.jpg)

**Rexford Industrial Implements CEO Succession Plan**

*Chief Operating Officer Laura Clark to Succeed Howard Schwimmer and Michael Frankel <br>as Chief Executive Officer Effective April 1, 2026*

**Los Angeles, California** — **November 18, 2025** — Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust ("REIT") focused on creating value by investing in and operating industrial properties throughout infill Southern California, today announced that the Rexford Industrial Board of Directors has implemented its leadership succession plan.

Laura Clark, Rexford Industrial's Chief Operating Officer, will serve as Chief Executive Officer effective April 1, 2026, and was appointed as a member of the Company's Board of Directors effective November 17, 2025. Ms. Clark will succeed Michael Frankel and Howard Schwimmer, both of whom will depart from their roles as Co-CEOs effective March 31, 2026. Mr. Schwimmer and Mr. Frankel will continue to serve as directors on the Board until their terms expire at the Company's 2026 Annual Meeting of Shareholders.

Ms. Clark is a recognized real estate executive with more than two decades of finance and operational experience in the industry. She joined Rexford Industrial as Chief Financial Officer in 2020 and was appointed Chief Operating Officer in 2024. Prior to joining Rexford Industrial, Ms. Clark held various leadership positions at Regency Centers, a publicly-traded retail REIT. Additionally, she held leadership roles across various institutions in real estate capital markets, equity research and investment management.

Tyler Rose, Chairman of the Board of Directors, said, "This transition is the culmination of the Board's multi-year succession planning process that will ensure a seamless handoff of leadership responsibilities. The Board is confident that Laura is the right executive to lead the Company through the execution of its go-forward strategy. She has demonstrated exceptional strategic vision and a passionate commitment to operational excellence, financial discipline and team building. Given her significant qualifications and intimate knowledge of the Company and its assets, we are confident Laura is uniquely suited to serve as Rexford Industrial's next CEO."

"On behalf of everyone at Rexford Industrial, I want to extend our deep gratitude to Michael and Howard for their invaluable contributions and leadership as Co-CEOs," Mr. Rose continued. "As co-founders, Howard and Michael drove Rexford's growth from 5.5 million square feet of industrial property, with an equity market capitalization of $406 million at the time of our 2013 IPO, into an irreplaceable, best-in-class, 51-million-square-foot industrial property portfolio with a nearly $10 billion equity market capitalization today. Over the same period, the Rexford team grew annual revenue to nearly $1 billion. Thanks to the creative, hard work of Michael, Howard and the exceptional Rexford team, the Company is well-positioned for future success."

"It has been a privilege to establish and lead Rexford Industrial," said Co-CEOs Michael Frankel and Howard Schwimmer. "We're proud of the Rexford team that has enabled the Company's entrepreneurial approach to creating value, and we're excited about Rexford's ongoing opportunity to create significant value for shareholders."

"I am honored to lead Rexford Industrial into the future," said Laura Clark. "I am energized by the opportunities ahead as we advance our differentiated value creation strategy through a refreshed lens, including implementing new actions to reform our capital allocation approach and driving operational efficiency across the organization to enhance value for shareholders. I want to thank Michael and Howard for their leadership and look forward to this next chapter for Rexford Industrial."

**Actions to Further Enhance Shareholder Value**

In a separate press release issued today, the Company announced its strategic and financial priorities to enhance shareholder value as well as updates to the Board of Directors.

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**About Laura Clark** 

Ms. Clark joined Rexford Industrial as Chief Financial Officer in 2020 before being appointed Chief Operating Officer in 2024. Prior to Rexford Industrial, she served as Senior Vice President, Capital Markets at Regency Centers, a publicly-traded retail REIT and S&P 500 Index member. Prior to that, Ms. Clark was the Vice President, Financial Services at Regency Centers overseeing all operational analysis, budgeting and reporting for the company's West region. Earlier in her career, she held roles in institutional sales and equity research at Green Street Advisors, served as Vice President, Capital Markets at Iron Tree Capital and as Vice President at Inland Capital Markets Group. Ms. Clark is a Chartered Financial Analyst (CFA), holds a Bachelor of Science degree in finance from DePaul University in Chicago and earned her Master of Business Administration degree from Ball State University.

**About Rexford Industrial**

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation over the long term. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities. As of September 30, 2025, Rexford Industrial's high-quality, irreplaceable portfolio comprised 420 properties with approximately 50.9 million rentable square feet occupied by a stable and diverse tenant base. Structured as a real estate investment trust (REIT) listed on the New York Stock Exchange under the ticker "REXR," Rexford Industrial is an S&P MidCap 400 Index member. For more information, please visit <u>rexfordindustrial.com.</u>

**Forward Looking Statements**

This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. In addition, projections, assumptions and estimates of our future performance and the future performance of the industry in which we operate are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described above. These and other factors could cause results to differ materially from those expressed in our estimates and beliefs and in the estimates prepared by independent parties. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and other filings with the Securities and Exchange Commission. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.

**Contacts**

Michael Fitzmaurice

Chief Financial Officer

(714) 735-7554

mfitzmaurice@rexfordindustrial.com

Mikayla Lynch

Director, Investor Relations and Capital Markets

(424) 276-3454

mlynch@rexfordindustrial.com

## Exhibit 99.2

**Exhibit 99.2**

![image_01.jpg](image_01.jpg)

**Rexford Industrial Highlights Strategic and Financial Priorities to Enhance Shareholder Value** 

*Reformed Capital Allocation Framework* 

*Commitment to Operating Company at a Reduced G&A Level that Drives Efficiency and Results*

*Adding New Independent Director by End of 2025* 

*Announcements Follow Constructive Engagement with Elliott Investment Management*

*Company Separately Announced COO Laura Clark to Become CEO* 

*as Part of Leadership Succession Plan*

**Los Angeles, California** — **November 18, 2025** — Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties throughout infill Southern California, today outlined the Company's strategic and financial priorities and actions underway to drive long-term value for shareholders.

"I am committed to a reformed capital allocation strategy that aligns with market conditions and our cost of capital, with a clear focus on maximizing risk-adjusted returns and our per-share NAV," said Laura Clark, Chief Operating Officer and incoming Chief Executive Officer of Rexford Industrial. "Our near-term priority is maximizing returns through a programmatic disposition strategy that strengthens the quality of our future cash flows and recycles capital into high-yielding repositioning projects and share repurchases. Furthermore, future repositioning and development projects, and acquisitions are being reevaluated through revamped, rigorous underwriting criteria to ensure these opportunities align with our current cost of capital and market dynamics. I am also committed to improving our operating margins through reduced G&A and additional operating efficiencies across the organization. I am confident that this reformed approach will strengthen Rexford Industrial's cash flows and drive shareholder value."

"We commend Rexford Industrial for taking today's decisive actions, including the announced CEO transition and other tangible steps to improve operational efficiency, refocus capital allocation and enhance governance and oversight," said Marc Steinberg, Partner at Elliott. "As one of the Company's largest investors, we believe these bold actions position Rexford Industrial well for this next stage in its evolution. We appreciate the collaborative discussions we've had with management and the Board, and we believe the Company is on a trajectory to deliver significant long-term value for shareholders."

Rexford Industrial is committed to optimizing shareholder returns by prioritizing strong risk-adjusted returns, while maintaining a flexible, investment-grade-rated balance sheet, which will drive FFO per share and net asset value per share growth.

• **Selectively reposition assets and reduce exposure to ground-up development:** The Company will continue to implement its value creation strategy of selectively repositioning assets to generate strong incremental returns and steady cash flows. The development pipeline is being reevaluated to focus on the highest-return opportunities that meet rigorous return thresholds, thereby reducing exposure and mitigating risks associated with market conditions, downtime of cash flow and future capital requirements. Current options under review include selling the asset, postponing construction or proceeding with the development.

• **Accretive capital recycling:** Through a programmatic disposition program, the Company will evaluate the sale of underperforming or fully-valued assets and reinvest proceeds into opportunities with higher risk-adjusted returns. In addition to select repositioning and development opportunities, potential capital uses include share repurchases and debt repayment.

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• **Benchmarking investment opportunities:** Future investment opportunities — both repositioning and development projects, and acquisitions — will be benchmarked against the risk-adjusted returns from share repurchases. The Company will thoroughly evaluate opportunities to increase per-share NAV through accretive repurchases when its shares trade at a meaningful discount to the underlying value of its assets.

• **Disciplined balance sheet management:** Rexford Industrial continues to target a leverage ratio of 4.0x to 4.5x on a Net Debt to EBITDA basis, which is expected to allow the Company to maintain its investment-grade rating, secure favorable borrowing terms and retain access to multiple sources of capital.

• **Enhanced cost framework to drive significant G&A savings:** Rexford Industrial is committed to operating at a G&A level that drives optimal efficiency and positions the business for long-term growth. In 2025, the Company implemented several cost-reduction initiatives. These included a reduction in force, an organizational restructuring and other cost-cutting initiatives resulting in significant G&A savings. Looking forward to 2026, the Company expects to realize an additional $20 million to $25 million of net G&A savings following the CEO leadership transition at the end of the first quarter. Full year 2026 G&A is projected to be in the range of $57 million to $62 million. These savings are expected to reduce G&A as a percentage of revenues to below the Industrial REIT peer average of 6.2%. The Company will continue to evaluate opportunities to lower costs and enhance operational efficiency, further reducing G&A as a percentage of revenues over time.

**Board of Directors Updates**

Rexford Industrial also announced that it will add a new independent director to its Board of Directors by the end of 2025, following constructive engagement with Elliott Investment Management. With this appointment, the upcoming retirements of Howard Schwimmer and Michael Frankel and the addition of incoming CEO Laura Clark to the Board, which was announced in a separate press release issued today and is described further below, the Rexford Industrial Board will be composed of seven directors following the Company's upcoming 2026 Annual Meeting of Shareholders (the "2026 Annual Meeting").

**Leadership Transition**

In a separate press release issued today, the Company announced that the Rexford Industrial Board of Directors has initiated its leadership succession plan under which Laura Clark, Rexford Industrial's COO, will serve as CEO effective April 1, 2026. Ms. Clark was appointed as a member of the Company's Board effective November 17, 2025. Ms. Clark will succeed Mr. Schwimmer and Mr. Frankel, both of whom will depart from their roles as Co-CEOs effective March 31, 2026. Mr. Schwimmer and Mr. Frankel will continue to serve as directors on the Board until their terms expire at the Company's 2026 Annual Meeting.

**Advisors**

JP Morgan and BofA Securities are serving as financial advisors to Rexford Industrial, and Sidley Austin LLP is serving as its legal advisor. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to the Company.

**About Rexford Industrial**

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation over the long term. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities. As of September 30, 2025, Rexford Industrial's high-quality, irreplaceable portfolio comprised 420 properties with approximately 50.9 million rentable square feet occupied by a stable and diverse tenant base. Structured as a real estate investment trust (REIT) listed on the New York Stock Exchange under the ticker "REXR," Rexford Industrial is an S&P MidCap 400 Index member. For more information, please visit <u>rexfordindustrial.com.</u>

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**Forward Looking Statements**

This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "redicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. In addition, projections, assumptions and estimates of our future performance and the future performance of the industry in which we operate are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described above. These and other factors could cause results to differ materially from those expressed in our estimates and beliefs and in the estimates prepared by independent parties. A number of factors could impact the Company's ability to deliver results in line with expectations for G&A and G&A as a percentage of revenue for 2026, including, but not limited to, the potential impacts related to interest rates, inflation, the economy, changes in occupancy levels and rental rates, the supply and demand of industrial real estate, the availability and terms of financing to the Company or to potential acquirers of real estate, and the timing and yields for divestment and investment. There can be no assurance that the Company can achieve such results. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and other filings with the Securities and Exchange Commission. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.

**Contacts**

Michael Fitzmaurice

Chief Financial Officer

(714) 735-7554

mfitzmaurice@rexfordindustrial.com

Mikayla Lynch

Director, Investor Relations and Capital Markets

(424) 276-3454

mlynch@rexfordindustrial.com

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