...A. Rexford Industrial is the largest US-focused industrial REIT. B. We are exclusively focused on creating value within infill Southern California, with 425 properties comprising 51 million square feet of the highest quality and most functional product in the market. C. Over the past five years alone, Rexford has delivered 16% average annual FFO per share growth. D. That's approximately 60% higher than our peers. E. This further differentiates our portfolio within infill Southern California, where over 1 billion square feet of industrial space was built before 1980. F. By way of example, in 2024, we executed 8 million square feet of leasing at rates nearly 20% above the market average. G. Number two, we are positioned to deliver projected embedded NOI growth of 40% or $280 million of incremental NOI driven by our value creation strategies. H. This is comprised of annual embedded rent steps averaging 3.7% for the total portfolio, our lease mark-to-market opportunity of 25% on a net effective...
