Land & Buildings Sends Letter to First Industrial Realty Trust Shareholders Detailing Why Investors Should Withhold Votes for Entrenched Directors

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STAMFORD, Conn.--(BUSINESS WIRE)--Mar 20, 2026--

Today, Land & Buildings Investment Management, LLC (together with its affiliates, “Land & Buildings,” “L&B,” “us” or “we”), a shareholder of First Industrial Realty Trust (NYSE: FR) (“First Industrial,” “FR” or the “Company”), issued a letter to shareholders detailing why urgent change is needed at the Company to maximize shareholder value. The letter also highlights why shareholders should send a clear message at the Company's upcoming 2026 annual meeting (the "Annual Meeting") that the status quo will no longer be tolerated by voting against the election of Chairman Matt Dominski and Director H. Patrick Hackett, Jr. – the longest-tenured directors on the Board of Directors (the “Board”). Finally, the letter discloses that, based on the lack of interest from the FR Board in engaging constructively with Land & Buildings on meaningful governance improvements, Land & Buildings has determined it can be more effective from outside the boardroom. As a result, it has withdrawn the nomination of CIO and Founder Jonathan Litt as a director candidate at the upcoming Annual Meeting.

The full text of the letter can be viewed here.

THIS COMMUNICATION IS NOT A SOLICITATION OF AUTHORITY TO VOTE YOUR PROXY AND DOES NOT REQUEST OR SEEK THE POWER TO ACT AS A PROXY FOR ANY SHAREHOLDER. DO NOT SEND US YOUR PROXY CARD. LAND & BUILDINGS IS NOT ASKING FOR YOUR PROXY CARD AND WILL NOT ACCEPT PROXY CARDS IF SENT. LAND & BUILDINGS IS NOT ABLE TO VOTE YOUR PROXY, NOR DOES THIS COMMUNICATION CONTEMPLATE SUCH AN EVENT.

View source version on businesswire.com:https://www.businesswire.com/news/home/20260320862651/en/

CONTACT: Media

Longacre Square Partners

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA CONNECTICUT

INDUSTRY KEYWORD: CONSULTING ASSET MANAGEMENT PROFESSIONAL SERVICES FINANCE

SOURCE: Land & Buildings Investment Management, LLC

Copyright Business Wire 2026.

PUB: 03/20/2026 07:00 AM/DISC: 03/20/2026 07:00 AM

http://www.businesswire.com/news/home/20260320862651/en