Rexford Industrial Realty : Investor Presentation January 2023

Rexford

Industrial

Realty

NYSE: REXR

www.rexfordindustrial.com

Investor Presentation

January 2023

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REXFORD

INDUSTRIAL

INVESTOR PRESENTATION

Forward Looking Statements

This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We caution investors that any forward-looking statements presented herein are based on management's beliefs and assumptions and information currently available to management. Such statements are subject to risks, uncertainties and assumptions and may be affected by known and unknown risks, trends, uncertainties and factors that are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. These risks and uncertainties include, without limitation: general risks affecting the real estate industry (including, without limitation, the market value of our properties, the inability to enter into or renew leases at favorable rates, portfolio occupancy varying from our expectations, dependence on tenants' financial condition, and competition from other developers, owners and operators of real estate); risks associated with the disruption of credit markets or a global economic slowdown; risks associated with the potential loss of key personnel (most importantly, members of senior management); risks associated with our failure to maintain our status as a REIT under the Internal Revenue Code

of 1986, as amended; possible adverse changes in tax and environmental laws; and potential liability for uninsured losses and environmental contamination. 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. The risks described above are not exhaustive and additional factors could adversely affect our business and financial performance, including those discussed in our annual report on Form 10-K, for the year ended December 31, 2021, and subsequent filings with the Securities and Exchange Commission. We expressly disclaim any responsibility to update forward-looking statements, whether as a result of new information, future events or otherwise.

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INDUSTRIAL

INVESTOR PRESENTATION

4Q and Full Year 2022 Supplemental Update

Rexford 4Q & 2022 Update

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REXFORD

INDUSTRIAL

INVESTOR

PRESENTATION

OPERATIONAL, INVESTMENT AND CAPITAL MARKETS UPDATE

Operational Highlights

Leasing Activity

4Q 2022 Leasing Activity

			# of Leases				Leasing Spreads
			Executed		SF		GAAP		Cash
	New Leases	41	609,320	103.0%	62.9%
	Renewal Leases	77	736,124	65.0%	47.8%
	Total Leases		118		1,345,444		76.8%		52.5%

Full Year 2022 Leasing Activity

			# of Leases				Leasing Spreads
			Executed		SF		GAAP		Cash
	New Leases	165	2,275,868	88.1%	61.2%
	Renewal Leases	278	3,029,737	77.9%	57.7%
	Total Leases		443		5,305,605		80.8%		58.7%

Occupancy

Same Property		Same Property
Average Occupancy	Ending Occupancy
4Q 2022	FY 2022	12/31/2022
98.0%		98.7%	98.1%

Leasing Spreads

			81%
			59%
		43%
35%	32%	29%
22%	20%
2019	2020	2021	2022
	GAAP	Cash

Average Rent Steps in

Executed Leases

2022 Average - 4.3%

4.2% 4.3% 4.4% 4.4%

1Q22

2Q22

3Q22

4Q22

Note: Unless stated otherwise, all information as of 12/31/2022

Rexford 4Q & 2022 Update

OPERATIONAL, INVESTMENT AND CAPITAL MARKETS UPDATE

Investment Highlights

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REXFORD

INDUSTRIAL

INVESTOR PRESENTATION

Acquisitions

• $2.4B full year acquisitions
• • 90% acquired through off-market or lightly marketed transactions
  • ~$100M projected 2023 GAAP NOI contribution
  • $358M 4Q acquisitions at an aggregate initial unlevered yield of 4.2% and projected stabilized yield on total investment of 5.4%
• $40M acquisition closed 1/6/23 at projected stabilized yield on total investment of 5.7%
• Over $400M total pipeline under contract or

Astute Capital Allocation

Drives Substantial Value Creation

Investment	Stabilized	Spread Above
($M)1	Yield	Market Yields

4Q Closed Acquisitions &

Current Pipeline Under

Contract / Accepted Offer2

accepted offer	Core Plus / Value-Add	$300	5.8%	~125 bps
Repositioning/Redevelopment
Core	$550	5.1%	~50 bps
• $140M full year stabilized redevelopment and	Repositioning / Redevelopment
repositioning projects
- 8.9% unlevered stabilized yield	In-Process /	$1,100	6.4%	~200 bps
- $67.5M 4Q stabilizations at 8.9%	Near-Term Pipeline

unlevered stabilized yield

• $1.1B in-process or near-term pipeline

- $460M of incremental spend on projected redevelopment and repositioning

Note: Unless stated otherwise, all information as of 12/31/2022

1. Reflects total acquisition costs and additional capital to achieve projected stabilized yields
2. Acquisition pipeline includes a $365M prospective core acquisition projecting an estimated 5.0% unlevered initial and stabilized yield. The aggregate estimated unlevered stabilized yield on the remaining pipeline opportunities is 6.2%. Properties under contract or accepted offer are subject to customary diligence and closing conditions