Rexford Industrial Realty, Inc. ($REXR)

Good morning, ladies and gentlemen. I'm Tyler Rose, Chairman of the Board of Directors of Rexford Industrial Realty, Inc. It is my pleasure to welcome you to the company's 2026 Annual Meeting of Stockholders, which is being held as a virtual-only meeting via live audio webcast. Please note that this meeting is being recorded. Stockholders can submit appropriate questions during the annual meeting by clicking the questions box to the right of your screen, typing the question in the text box and then clicking the submit button. Appropriate questions will then be answered by the company in accordance with the meeting rules of conduct within the time allotted during the meeting. Additionally, all questions submitted in accordance with the meeting rules of conduct will be posted on the company's website with answers following the meeting, including any not addressed directly during the meeting. In accordance with our bylaws, I will act as Chairman of this meeting, and David Lanzer will act as Secretary. The Inspector of Election today is Craig Colosso, a representative of a Equiniti Trust Company. The inspector of election will tabulate all votes and were applicable abstentions. If there are any disruptions on my end, David Lanzer, as the Corporate Secretary, is authorized to proceed with the meeting. The Secretary of the annual meeting has delivered an affidavit of mailing from Equiniti Trust Company, establishing that notice of the annual meeting was duly mailed commencing April 8, 2026, to all stockholders of record of Rexford Industrial Realty, Inc. as of the close of business on March 27, 2026, the record date for this annual meeting. A copy of the notice of the meeting and the affidavit of mailing will be incorporated into the minutes of the annual meeting. I've been advised by the inspector of election that based upon a preliminary tabulation stockholders entitled to cast the majority of all the votes entitled to be cast at this annual meeting are present in person, virtually or by proxy. I, therefore, declare that a quorum is present and that the meeting is lawfully convened for the purpose of transacting such business as may properly come before it. As you entered the meeting this morning, virtually for the live audio webcast, a copy of the conduct of meeting guidelines was made available. To conduct an orderly annual meeting, we asked the participants to abide by these guidelines. Should you desire to vote electronically or ask a question during the annual meeting, please follow the instructions previously provided in our proxy statement as implemented on the virtual annual meeting website, you are now on. We will have the opportunity to address properly submitted stockholder questions at an appropriate time or during the question-and-answer period, which is scheduled to occur at the end of the annual meeting. After being recognized with confirmed identity and status of the stockholder or as a representative of a stockholder with a valid proxy, we will review your submitted questions and respond as appropriate. Thank you for your cooperation. Before we begin the formalities of the annual meeting, I would like to introduce the other members of the company's Board of Directors who are here with us today. The company's Chief Executive Officer and Director, Laura Clark, and Chief Financial Officer, Michael Fitzmaurice; and Independent Directors, Diana Ingram, Angela Kleiman, Debra Morris and Dave Stockert. We will now turn to the business of the annual meeting and vote on the items presented in this proxy statement. First, we will consider the 4 matters to be voted on at this meeting by stockholders of our common stock, which are described in our proxy statement. We will vote after all items have been presented. You are entitled to vote if you are a holder of record of our common stock as of the close of business on March 27, 2026, which was a record date for a proxy holder for the stockholder of record as of the record date. First item to be considered is the election of directors. Each meeting nominee is nominated for a term expiring at the 2027 Annual Meeting and until his or her successor is duly elected and qualifies. In order to be elected as a director, a nominee must receive the affirmative vote of a majority of the votes cast, meaning that a nominee will be elected as a director if the number of votes cast for this nominee exceeds the number of votes against this nominee. The proxy statement made available to our common stockholders, contains the names of the following 7 director nominees who are standing for election today. Robert Antin, Laura Clark, Diana Ingram, Angela Kleiman, Debra Morris, Tyler Rose, and Dave Stockert. The second item to be voted on by holders of our common stock is the ratification of the Board's appointment of KPMG LLP as the company's independent registered public accounting firm for the fiscal year ended December 31, 2026. KPMG has acted as our independent registered public accounting firm since their appointment on February 14, 2024, and is presented today virtually by Mr. Todd Refnes. The affirmative vote of a majority of the votes cast is required for the ratification of the selection of KPMG LLP as our independent registered public accounting firm, meaning the number of shares voted for proposal 2 must exceed the number of shares voted against such proposal. The third item to build on by the holders of our common stock is the advisory resolution to approve the company's executive compensation for the fiscal year ended December 31, 2025, and as more fully described in the proxy statement. The affirmative vote of a majority of the votes cast is required for the ratification of the passage of the advisory opinion to approve the company's executive compensation for the fiscal year ended December 31, and 2025, meaning that the number of shares voted for proposal 3 has to exceed the number of shares voted against such proposal. The fourth and final item to be voted on by holders of our common stock is whether to approve the fourth amended and restated Rexford Industrial Realty, Inc. and Rexford Industrial Realty LP 2013 Incentive Award Plan as more fully described in the proxy statement here and after referred to as the amended and restated incentive award plan. The affirmative vote of a majority of the votes cast is required. Meaning the number of shares voted for proposal 4 must exceed the number of shares voted against such proposal. The polls are now open, and we will proceed with a vote. Stockholders who have voted by mail, proxy, telephone or the Internet do not need to vote again unless they wish to change their vote. If you've not -- if you have not already voted or you wish to change your vote, you may do so by clicking the Vote My Shares tab at the top right side of your screen. When you have completed your online ballot, please submit it through the Equiniti system, so the inspector of election can receive it. [Voting]

Equiniti, please confirm that everyone had an opportunity to cast his or her ballot.

All those wishing to vote have had the opportunity to cast their ballots.

The polls are now closed. I have been asked from the sector election -- sorry, I have been advised that the inspector of election has completed the preliminary vote count. Inspector of election has informed me of the following. Each nominee for director has received the majority of the votes cast for the proposal to ratify the selection of KPMG as the company's independent registered public accounting firm has received the affirmative vote with a majority of the cast for. The advisory resolution to approve the company's executive compensation for the fiscal year ended December 31, 2025, has received the affirmative vote with the majority of the casts, for. And the proposal to approve the amended and restated incentive award plan has received the affirmative vote of a majority of the votes cast. Based on these results, I hereby declare that each director nominee has been duly elected; the selection of KPMG has been ratified; the compensation of the company's named executive officers for the fiscal year 2025 has been approved by the stockholders on an advisory basis and the amended and restated incentive award plan is adopted and now effective. This concludes the formal portion of the 2026 Annual Meeting, which is now adjourned. We will now turn to any questions that have been properly submitted in accordance with the proxy statement. The Board and meeting Secretary, David Lanzer, shall identify any such questions.

I have reviewed the virtual meeting site for stockholder questions and no questions have been submitted.

That concludes the question-and-answer session. I want to thank all of you for attending today's meeting and for your kind interest in Rexford Industrial Realty, Inc.