REXFORD INDUSTRIAL RECEIVES CREDIT RATING UPGRADES FROM MOODY'S AND S&P

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Rexford Industrial Realty, Inc. (NYSE: REXR) has received credit rating upgrades from Moody's and S&P Global Ratings. Moody's upgraded its issuer rating to Baa2 from Baa3, while S&P raised it to BBB+ from BBB, both maintaining a stable outlook. The upgrades reflect Rexford's strong business model and its focus on the high-demand industrial market of Southern California. The company's portfolio includes 336 properties and approximately 41.0 million rentable square feet. CFO Laura Clark stated that the upgrades position Rexford for continued growth and value creation for shareholders.

Positive

• Credit ratings upgraded to BBB+ (S&P) and Baa2 (Moody's), indicating improved financial stability.
• Stable outlook from both ratings agencies suggests confidence in future performance.
• Strong business model focused on high-demand industrial properties in Southern California, enhancing growth potential.
• Diverse tenant base occupying approximately 41.0 million rentable square feet across 336 properties.

Negative

• None.

Credit Ratings Upgrade to BBB+ (S&P) and Baa2 (Moody's)

LOS ANGELES, Aug. 18, 2022 /PRNewswire/ -- 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 located throughout infill Southern California, announced that Moody's Investors Service ("Moody's") and S&P Global Ratings ("S&P") upgraded Rexford Industrial's investment grade issuer and senior unsecured ratings.  Moody's upgraded the Company's ratings to Baa2 from Baa3 with a stable outlook.  S&P upgraded the Company's ratings to BBB+ from BBB with a stable outlook.

"These rating upgrades by both Moody's and S&P reflect the strength of our differentiated business model driven by our irreplaceable portfolio and value creation expertise within infill Southern California, the nation's highest demand and lowest vacancy industrial market. Our commitment to maintaining a low-leverage, fortress-like balance sheet positions Rexford Industrial to continue to execute on accretive internal and external growth initiatives, driving significant long-term value creation for our shareholders," stated Laura Clark, Chief Financial Officer of 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, lowest supply market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities. Rexford Industrial's high-quality, irreplaceable portfolio comprises 336 properties with approximately 41.0 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 www.rexfordindustrial.com.

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. 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, 2021, and the Company's most recent Form 10-Q. 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.

Contact:

Investor Relations:

Stephen Swett

424 256 2153 ext. 401

investorrelations@rexfordindustrial.com

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SOURCE Rexford Industrial

FAQ

What are the new credit ratings for Rexford Industrial (REXR)?

Rexford Industrial's credit ratings have been upgraded to BBB+ by S&P and Baa2 by Moody's.

When did Rexford Industrial receive the credit rating upgrades?

The credit rating upgrades were announced on August 18, 2022.

What does the stable outlook from Moody's and S&P indicate for REXR?

The stable outlook indicates confidence in Rexford Industrial's financial performance and stability.

How many properties does Rexford Industrial manage?

Rexford Industrial operates 336 properties with approximately 41.0 million rentable square feet.

What market does Rexford Industrial primarily operate in?

Rexford Industrial focuses on the industrial properties market in Southern California.