• Prologis, but exclusively focused on high-demand Southern California industrial properties.
• American Tower, but for industrial warehouses in Southern California.

• Leasing of Industrial Properties: Provides modern industrial real estate, such as warehouses, distribution centers, and manufacturing facilities, for businesses to lease.

Rexford Industrial Realty (REXR) is a Real Estate Investment Trust (REIT) that owns and operates industrial properties, primarily in Southern California. As such, its customers are other companies that lease industrial space for their business operations, rather than individuals.

Rexford maintains a highly diversified tenant base, serving approximately 2,400 customers. According to its public filings (e.g., 2023 10-K and investor presentations), no single customer accounts for more than 0.9% of its total portfolio revenues. Furthermore, its top 25 customers collectively represent only 15.6% of its total portfolio revenues.

Due to this extensive diversification and lack of significant revenue concentration from any single entity, Rexford Industrial Realty does not have "major customers" in the traditional sense. Therefore, specific names of major customer companies are not publicly disclosed by Rexford, as none meet a threshold to be individually identified as "major" to the company's financial performance.

Its customer base consists of businesses across a wide range of industries that require industrial space for purposes such as:

• Logistics and distribution
• E-commerce fulfillment
• Light manufacturing and production
• Research and development (R&D)
• Last-mile delivery operations
• Creative and entertainment uses

Howard Schwimmer, Co-Chief Executive Officer and Director
Mr. Schwimmer co-founded Rexford's predecessor business in 2001 and has served as Co-Chief Executive Officer and a Director of Rexford Industrial Realty since its formation in January 2013. He brings over 40 years of specialized experience in Southern California infill industrial real estate, with deep expertise across acquisition, repositioning, leasing, operations, and strategic planning. Prior to co-founding Rexford, he served in senior executive roles at DAUM Commercial Real Estate, one of California's oldest industrial brokerage firms. He has extensive experience in the formation and governance of both private and public real estate investment entities.

Michael S. Frankel, Co-Chief Executive Officer and Director
Mr. Frankel has served as Co-Chief Executive Officer and a Director of Rexford Industrial Realty since July 2013, having joined Rexford's predecessor business in May 2005 as Chief Financial Officer. His career spans real estate investment, private equity investments, and senior management operating roles. He was previously responsible for investments at the private equity firm 'C3,' a subsidiary of Comcast Corporation. Mr. Frankel also served with L.E.K. Consulting, providing strategic advisory services, and began his career as Vice President at Melchers & Co., overseeing U.S.-Asia operations.

Michael Fitzmaurice, Chief Financial Officer
Mr. Fitzmaurice was appointed Chief Financial Officer of Rexford Industrial Realty, effective November 18, 2024, bringing 25 years of experience in the public REIT sector. He most recently served as Executive Vice President, CFO of RPT Realty, where he joined in 2018 and played a key role in its successful merger with Kimco Realty in January 2024. Prior to RPT Realty, Mr. Fitzmaurice was Vice President and then Senior Vice President of Finance for Retail Properties of America, Inc. from 2012 to 2018. Earlier in his career, he held positions of increasing responsibility at General Growth Properties and Equity Office Properties.

Laura Clark, Chief Operating Officer
Ms. Clark serves as Rexford Industrial's Chief Operating Officer, a role she assumed in November 2024, after previously holding the position of Chief Financial Officer from August 2020 to November 2024. She has 22 years of finance, accounting, real estate, and operations experience. From 2017 until July 2020, Ms. Clark was Senior Vice President, Capital Markets at Regency Centers, a publicly traded retail REIT, where she also previously served as Vice President, Financial Services since 2012. Her prior experience includes roles in institutional sales and equity research at Green Street Advisors, and serving as Vice President at Iron Tree Capital and Inland Capital Markets Group.

Richard Ziman, Co-Founder and Chairman
Mr. Ziman is a Co-Founder and Chairman of Rexford Industrial Realty. He has over 40 years of experience in the Southern California industrial real estate market. Mr. Ziman was also the co-founder, Chairman, and CEO of Arden Realty Inc., which was the largest owner of office space in Southern California until its $5 billion merger with General Electric. His background also includes serving with the law firm Loeb & Loeb, and being the founder and managing general partner of Pacific Financial Group Inc. and founding chairman of AVP Advisors.

• In Los Angeles County, the industrial market spans over 902.1 million square feet.
• The Inland Empire industrial market totals 742.9 million square feet.

Rexford Industrial Realty (REXR) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

• Strong Leasing Activity and Rental Rate Growth: The company has consistently demonstrated its ability to achieve significant increases in rental rates on new and renewal leases. For example, comparable rental rates increased by 23.8% on a net effective basis in Q1 2025 and 26.1% in Q3 2025, indicating strong pricing power and demand for its industrial properties in Southern California infill markets.
• Value-Add Repositioning and Redevelopment Projects: Rexford Industrial actively enhances its asset value through strategic repositioning and redevelopment initiatives. In 2024, the company stabilized ten repositioning and redevelopment projects, demonstrating its capability to deliver substantial unlevered stabilized yields. These projects are anticipated to contribute to higher growth in 2025 and 2026.
• Strategic Acquisitions in Infill Southern California Markets: Rexford's core strategy involves acquiring industrial properties within the supply-constrained Southern California infill markets, which are characterized by high demand and limited new supply. This focused acquisition approach allows the company to capitalize on favorable market conditions and expand its high-quality portfolio.
• High Occupancy Rates and Tenant Retention: The company maintains consistently high same-property occupancy rates, reaching 96.8% in Q3 2025, coupled with healthy tenant retention levels. This strong occupancy and stable tenant base ensure a consistent and growing stream of rental income.
• Sustainability Initiatives and Technology Integration: Rexford is focused on integrating smart building solutions and digital marketing strategies, alongside a strong commitment to sustainability. The company plans to increase its installed or committed solar capacity to over 60 MW by 2028 from 29 MW in 2024. These efforts enhance operational efficiency, tenant satisfaction, and can attract tenants prioritizing environmentally responsible properties, thereby supporting revenue growth.

Share Repurchases

• Rexford Industrial Realty authorized a new share repurchase program of up to $500 million in October 2025, valid through September 2027.
• In the third quarter of 2025, the company repurchased $150.0 million of common stock, including $100.01 million (2,697,100 shares) between July and August, and an additional $50 million (1,186,745 shares) in September.
• These share repurchases were funded by proceeds from dispositions.

Share Issuance

• In November 2020, Rexford Industrial Realty issued Operating Partnership (OP) Units as part of the funding for a $339.2 million acquisition of industrial properties. These OP Units are redeemable for shares of the company's common stock.
• Over the past decade, Rexford has significantly increased its outstanding shares, with a compound annual growth rate of approximately 19.3%.

Inbound Investments

• As of November 2025, Elliott Investment Management acquired a substantial stake in Rexford Industrial Realty, making it one of the company's top five investors.

Outbound Investments

• In November 2020, Rexford Industrial acquired a four-building industrial complex and a three-tenant industrial property for $339.2 million, demonstrating its focus on strategic property acquisitions in Southern California infill markets.
• The company's core strategy involves investing in, operating, and redeveloping industrial properties throughout infill Southern California to create value.

Capital Expenditures

• Rexford Industrial focuses capital expenditures on repositioning and redevelopment projects within its infill Southern California portfolio.
• In the third quarter of 2025, the company stabilized seven repositioning and redevelopment projects totaling 586,435 square feet, representing a total investment of $270.6 million.
• Year-to-date in 2025, repositioning and redevelopment leasing activity encompassed 1.5 million square feet across 20 leases, with projected annualized net operating income (NOI) from such projects reaching $65 million as of Q3 2025.