First Industrial Realty Trust — Feb 5, 2025 release

UST REPORTS FOURTH QUARTER AND FULL YEAR 2024 RESULTS • 2025 NAREIT FFO Guidance Initiated at a Range of $2.87 to $2.97 Per Share/Unit, Approximately 10% Growth at the Midpoint • Increased First Quarter 2025 Dividend to $0.445 Per Share, a 20.3% Increase • Signed 4.7 Million Square Feet of Development Leases in 2024 Inclusive of Joint Venture, Second Highest Annual Total Since 2012; 1.4 Million Square Feet Signed in the Fourth Quarter • Cash Rental Rates Up 50.8%, Second Consecutive Annual Increase Greater Than 50% • 33% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 2025; 42% Increase Excluding 1.3 Million Square-Foot Fixed-Rate Renewal • Cash Same Store NOI Growth of 9.3% in the Fourth Quarter, 8.1% for Full Year 2024 • Started Two Developments in the Fourth Quarter Totaling 679,000 Square Feet in Nashville and Lehigh Valley, Estimated Investment of $96 Million • Sold Five Buildings for $25 Million in the Fourth Quarter; $163 Million Sold in 2024 CHICAGO, February 5, 2025 – First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced results for the fourth quarter and full year 2024. First Industrial's diluted net income available to common stockholders per share (EPS) was $0.52 in the fourth quarter, compared to $0.67 a year ago. Full year 2024 EPS was $2.17, compared to $2.07 in 2023. First Industrial's fou