First Industrial Realty Trust — Feb 5, 2025 release

“Our team is focused on driving future cash flow growth from lease-up and realizing rental rate growth within our core portfolio while executing on all aspects of our development program.” Low End of High End of Guidance for 2025 Guidance for 2025 (Per share/unit) (Per share/unit) Net Income Available to Common Stockholders and Unitholders $ 1.57  $ 1.67  Add: Depreciation and Other Amortization of Real Estate (1) 1.35  1.35  Less: Gain on Sale of Real Estate Through February 5, 2025 (1) (0.05) (0.05) NAREIT Funds From Operations $ 2.87  $ 2.97  (1) Amounts include our share from a joint venture and are net of any associated income tax provision or benefit. The following assumptions were used for guidance: • Average quarter-end in service occupancy of 95.0% to 96.0%. • SS NOI growth on a cash basis before termination fees of 6.0% to 7.0%. This range assumes 2025 bad debt expense of $1.0 million and excludes $4.5 million of income related to the 3Q24 accelerated recognition of a tenant improvement reimbursement. • Includes the incremental costs expected in 2025 related to the Company’s completed and under construction developments as of December 31, 2024. In total, the Company expects to capitalize $0.09 per share of interest in 2025. • General and administrative expense ("G&A") of $40.5 million to $41.5 million. • Guidance does not include the impact of any future investments, property sales, debt repurchases prior to maturity, debt issuances, or equity issuances post the date of this press release. Conference Call First Industrial will host its fourth quarter and full year 2024 conference call on Thursday, February 6, 2025 at 10:00 a.m. CST (11:00 a.m. EST). The conference call may be accessed by dialing (877) 870-4263, passcode “First Industrial”. The conference call will also be webcast live on the Investors page of the Company’s website at www.firstindustrial.com. The replay will also be available on the website. The Company’s fourth quar