LXP LXP Industrial Trust

LXP Industrial Trust (NYSE: LXP) (“LXP”), a real estate investment trust (“REIT”) focused on single-tenant warehouse/distribution real estate investments, today announced that it has priced an underwritten public offering of $300 million aggregate principal amount of 6.750% senior unsecured notes due November 15, 2028 at a price equal to 99.423% of the principal amount, to yield 6.888%. Interest on the notes will be payable semi-annually commencing on May 15, 2024.

The offering is subject to the satisfaction of customary closing conditions and is expected to close on November 13, 2023.

LXP intends to use the net proceeds from the offering to pay down all amounts outstanding under its revolving credit facility and any remaining proceeds for general corporate purposes, including, but not limited to, the repayment of outstanding indebtedness at or in advance of maturity and funding LXP’s development pipeline.

Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC, KeyBanc Capital Markets Inc., Regions Securities LLC, BofA Securities, Inc. and TD Securities (USA) LLC are acting as joint book-running managers of the offering and Citizens JMP Securities, LLC and Samuel A. Ramirez & Company, Inc. are acting as co-managers of the offering.

This offering is being conducted pursuant to LXP’s currently effective shelf registration statement, which was previously filed with the Securities and Exchange Commission (“SEC”). When available, copies of the preliminary prospectus supplement and final prospectus supplement may be obtained from (i) Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attention: WFS Customer Service or by calling toll free at 1-800-645-3751 or by emailing: wfscustomerservice@wellsfargo.com, (ii) J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk or by calling at 1-212-834-4533, (iii) Mizuho Securities USA LLC, 1271 Avenue of the Americas, New York, New York 10020 or by calling 1-866-271-7403 or (iv) the SEC’s public website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

ABOUT LXP INDUSTRIAL TRUST

LXP Industrial Trust (NYSE: LXP) is a publicly traded REIT focused on single-tenant warehouse/distribution real estate investments across the United States. LXP seeks to expand its industrial portfolio through acquisitions, build-to-suit transactions, sale-leaseback transactions, development projects and other transactions.

This release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this press release are forward-looking statements, including, but not limited to, statements regarding the expected closing date of the offering and the anticipated use of the net proceeds therefrom. Such forward-looking statements involve known and unknown risks, uncertainties and other factors not under LXP's control which may cause actual results, performance or achievements of LXP to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those factors and risks detailed in LXP's periodic filings with the SEC. Except as required by law, LXP undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events.

Contact: Investor or Media Inquiries for LXP Industrial Trust: Heather Gentry, Senior Vice President, Investor Relations LXP Industrial Trust          Phone: (212) 692-7200 E-mail: hgentry@lxp.com