REXFORD INDUSTRIAL ANNOUNCES APPOINTMENT OF ANGELA KLEIMAN TO BOARD OF DIRECTORS

LOS ANGELES, Dec. 27, 2021 /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 in Southern California infill markets, today announced that Angela Kleiman has been appointed as an independent director to the Company's Board of Directors effective December 31, 2021. 

Ms. Kleiman is currently Senior Executive Vice President and Chief Operating Officer of Essex Property Trust (NYSE:ESS), a fully integrated real estate investment trust (REIT) and an S&P 500 company.  Essex acquires, develops, redevelops and manages multifamily residential properties in select West Coast markets. Ms. Kleiman leads operations, which includes asset and property management, technology and data analytics, research and redevelopment. Ms. Kleiman previously served as the Essex Executive Vice President and Chief Financial Officer from 2015 to 2020 and managed the Essex Private Equity platform from 2009 to 2015. Prior to joining Essex, Ms. Kleiman held roles in institutional investment management and investment banking including Senior Equity Analyst and Vice President of Investor Relations at Security Capital and Vice President within J.P. Morgan's Real Estate & Lodging Investment Banking Group. Ms. Kleiman began her career in real estate development management in 1991. She holds a Bachelor of Science from Northwestern University and a Master of Business Administration from Northwestern's Kellogg School of Management. She is a member of NAREIT and the National Multifamily Housing Council.

"We are excited to add Angela to Rexford Industrial's Board of Directors," stated Diana Ingram, Director and Chairperson of the Company's Nominating and Corporate Governance Committee. "Angela brings a wide breadth of real estate industry knowledge and valuable experience in the areas of operations, finance and real estate investments.  We look forward to benefiting from her engagement and guidance as we continue to grow our platform and create value for our shareholders by investing in the infill Southern California industrial market."

In connection with Rexford Industrial's ongoing pursuit of enhanced board diversity and refreshment, Peter Schwab will be retiring from the Board at the end of his current term and will not stand for re-election.  Mr. Schwab's decision was not due to any disagreement with the Company on any matter relating to its operations, policies or practices.

"We are thankful for Peter's many years of service to the Company, having served on the board since 2014. At the same time, we look forward to Angela joining the Board as we continue to add new perspectives and expertise," said Richard S. Ziman, Chairman of Rexford Industrial.  Rexford Industrial's Co-CEOs, Michael Frankel and Howard Schwimmer, added "We thank Peter for his contributions and on-going support of the Company.  We welcome Angela to the Board and look forward to benefiting from her extensive experience as we capitalize upon significant growth opportunities ahead."

Ms. Kleiman will serve on the Company's Audit Committee.

About Rexford Industrial

Rexford Industrial, a real estate investment trust focused on creating value by investing in and operating industrial properties throughout Southern California infill markets, owns 288 properties with approximately 36.1 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

For additional information, 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, 2020, and the Current Report on Form 8-K filed with the SEC on or about the date of this press release. 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 Realty, Inc.