EX-99.1 2 v452097_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

LEXINGTON REALTY TRUST

SUPPLEMENTAL REPORTING PACKAGE

September 30, 2016

Table of Contents

Section		Page

Third Quarter 2016 Earnings Press Release		3

Portfolio Data
2016 Third Quarter Investment/Capital Recycling Summary		15
Build-To-Suit Projects		16
2016 Third Quarter Financing Summary		17
2016 Third Quarter Leasing Summary		18
Other Revenue Data		20
Portfolio Detail by Asset Class		22
Portfolio Composition		23
Components of Net Asset Value		24
Top Markets		25
Single-Tenant Office Markets		26
Tenant Industry Diversification		27
Top 10 Tenants or Guarantors		28
Lease Rollover Schedules – GAAP Basis		29
Property Leases and Vacancies – Consolidated Portfolio		31
Select Credit Metrics Summary		38
Financial Covenants		39
Mortgages and Notes Payable		40
Debt Maturity Schedule		43
Mortgage Loans Receivable		44
Selected Balance Sheet and Income Statement Account Data		45
Non-GAAP Measures – Definitions		46
Reconciliation of Non-GAAP Measures		48
Investor Information		52

This Quarterly Earnings Release and Supplemental Reporting Package contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the control of Lexington Realty Trust “Lexington”, which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in Lexington’s periodic reports filed with the Securities and Exchange Commission, including risks related to: (1) the authorization of Lexington’s Board of Trustees of future dividend declarations, (2) Lexington’s ability to achieve its estimates of net income attributable to common shareholders and Adjusted Company FFO available to all equityholders and unitholders – diluted for the year ending December 31, 2016, (3) the successful consummation of any lease, acquisition, build-to-suit, disposition, financing or other transaction, (4) the failure to continue to qualify as a real estate investment trust, (5) changes in general business and economic conditions, including the impact of any new legislation, (6) competition, (7) increases in real estate construction costs, (8) changes in interest rates, (9) changes in accessibility of debt and equity capital markets, and (10) future impairment charges. Copies of the periodic reports Lexington files with the Securities and Exchange Commission are available on Lexington’s web site at www.lxp.com. Forward-looking statements, which are based on certain assumptions and describe Lexington’s future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects,” may,” “plans,” “predicts,” “will,” “will likely result,” “is optimistic,” “goal,” “objective” or similar expressions. Except as required by law, Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington’s expectations will be realized.

LEXINGTON REALTY TRUST

TRADED: NYSE: LXP

ONE PENN PLAZA, SUITE 4015

NEW YORK, NY 10119-4015

FOR IMMEDIATE RELEASE

LEXINGTON REALTY TRUST REPORTS THIRD QUARTER 2016 RESULTS

New York, NY - Thursday, November 3, 2016 - Lexington Realty Trust (“Lexington”) (NYSE:LXP), a real estate investment trust focused on single-tenant real estate investments, today announced results for the third quarter ended September 30, 2016.

Third Quarter 2016 Highlights

•

Generated Net Loss attributable to common shareholders of $26.7 million, or $0.11 per diluted common share.

•

Generated Adjusted Company Funds From Operations available to all equityholders and unitholders - diluted (“Adjusted Company FFO”) of $67.5 million, or $0.28 per diluted common share.

•

Disposed of 10 properties, including the three remaining land investments in New York City, for $409.1 million.

•

Acquired an industrial property for $43.1 million.

•

Invested $27.6 million in on-going build-to-suit projects and completed a build-to-suit property with a total cost of $80.0 million.

•

Executed 1.0 million square feet of new leases and lease extensions with overall portfolio 95.3% leased at quarter end.

•

Obtained $197.2 million 20-year non-recourse financing, which bears interest at a 4.04% fixed rate and is secured by the build-to-suit project in Lake Jackson, Texas.

•

Converted the remaining $11.9 million original principal amount of 6.00% Convertible Guaranteed Notes for 1.9 million common shares.

•

Retired $271.9 million of secured debt and all $123.0 million borrowings outstanding on the $400.0 million revolving credit facility.

•

Increased the quarterly common share/unit dividend/distribution to $0.175 per common share/unit from $0.17 per common share/unit.

Subsequent Events

•

Disposed of two properties for aggregate gross proceeds of $40.3 million.

Adjusted Company FFO is a non-GAAP financial measure. It and certain other non-GAAP financial measures are defined and reconciled later in this press release.

T. Wilson Eglin, Chief Executive Officer and President of Lexington Realty Trust, commented, “We substantially completed our $600-$700 million sales program during the quarter and subsequently sold two properties, bringing our total consolidated sales for the year to $616.2 million at average cash and GAAP cap rates of 5.1% and 10.6%, respectively. The $338 million sale of our New York City land investments, which were purchased in late 2013 for $302 million, turned out to be a great success for our investors. These properties generated strong cash flow and capital appreciation and the sale allowed us to reduce leverage considerably while providing cash to retire debt and fund investments.”

“Furthermore, as a result of our accomplishments this year, we increased our annualized dividend from $0.68 to $0.70 per common share, we substantially reduced leverage to 5.3x net debt to Adjusted EBITDA compared with 6.2x at June 30, 2016, our cash position is strong, and our credit line is fully available. Given the overall execution of our business plan and better visibility on activity for the remainder of the year, we are increasing our 2016 Adjusted Company FFO guidance to a new range of $1.09-$1.11 from $1.07-$1.10.”

FINANCIAL RESULTS

Revenues

For the quarter ended September 30, 2016, total gross revenues were $106.3 million, a 0.9% increase compared with total gross revenues of $105.4 million for the quarter ended September 30, 2015. The increase was primarily attributable to revenue generated from property acquisitions and new leases signed, partially offset by 2015 and 2016 property sales and lease expirations.

Net Loss Attributable to Common Shareholders

For the quarter ended September 30, 2016, net loss attributable to common shareholders was $26.7 million, or $0.11 per diluted share, compared with net loss attributable to common shareholders for the quarter ended September 30, 2015 of $7.6 million, or $0.03 per diluted share. The Company recognized impairment charges of $72.9 million for the quarter ended September 30, 2016, primarily due to the write-off of the deferred rent receivable relating to the sale of the three remaining New York, New York land investments. The Company, which purchased these three land investments in 2013 for $302.0 million, sold them in the third quarter of 2016 for an aggregate gross sales price of $338.2 million.

Adjusted Company FFO

For the quarter ended September 30, 2016, Lexington generated Adjusted Company FFO of $67.5 million, or $0.28 per diluted share, compared to Adjusted Company FFO for the quarter ended September 30, 2015 of $66.9 million, or $0.27 per diluted share.

Dividends/Distributions

Lexington declared a regular quarterly common share/unit dividend/distribution for the quarter ended September 30, 2016 of $0.175 per common share/unit, which represented an increase of approximately 3% over the prior regular quarterly common share/unit dividend/distribution. This equates to an increase of $0.02 per common share/unit to an annual dividend/distribution of $0.70 per common share/unit. The common share/unit dividend/distribution was paid on October 17, 2016 to common shareholders/unitholders of record as of September 30, 2016. Lexington also declared a dividend of $0.8125 per share on its Series C Cumulative Convertible Preferred Stock (“Series C Preferred Shares”), which is payable on February 15, 2017 to Series C Preferred Shareholders of record as of January 31, 2017.

OPERATING ACTIVITIES

During the quarter, Lexington acquired/completed the following properties:

ACQUISITIONS
Tenant	Location	Property Type	Initial Basis ($000)		Initial Estimated Annualized GAAP Rent ($000)		Initial Estimated Annualized Cash Rent ($000)		Initial Estimated GAAP Yield			Initial Estimated Cash Yield			Approximate Lease Term (Yrs)
Consolidated:
Pacific Foods of Oregon, Inc.	Wilsonville, OR	Industrial	$	43,100	$	3,120	$	2,567		7.2	%		6.0	%	16
Nonconsolidated:
British Schools of America, LLC⁽¹⁾	Houston, TX	Private School	$	79,964	$	6,248	$	6,248		7.8	%		7.8	%	20

(1)

Lexington had a 25% equity interest as of September 30, 2016. Lexington is providing construction financing up to $56.7 million to the joint venture, of which $43.1 million had been funded as of September 30, 2016. The related lease provides for annual CPI increases.

During the quarter, Lexington funded $27.6 million of the projected costs of the following projects:

ON-GOING BUILD-TO-SUIT PROJECTS

Location	Sq. Ft.		Property Type	Lease Term (Years)	Maximum Commitment/ Estimated Completion Cost ($000)		GAAP Investment Balance as of 9/30/2016 ($000)		Estimated Acquisition/ Completion Date	Estimated Initial GAAP Yield			Estimated Initial Cash Yield
Lake Jackson, TX		664,000	Office	20	$	166,164	$	101,203	4Q 16/1Q 17		8.9	%		7.3	%
Charlotte, NC		201,000	Office	15		62,445		32,613	1Q 17		9.5	%		8.3	%
Opelika, AL		165,000	Industrial	25		37,000		3,760	2Q 17		9.0	%		7.1	%
		1,030,000			$	265,609	$	137,576

During the quarter, Lexington sold the following properties:

PROPERTY DISPOSITIONS

Primary Tenant	Location	Property Type	Gross Disposition Price ($000)		Annualized Net Income⁽¹⁾⁽²⁾ ($000)			Annualized NOI⁽¹⁾ ($000)			Month of Disposition
Multi-Tenant	Foxboro, MA	Office	$	4,100	$	(268	)	$	(267	)	July
Vacant	Franklin, OH	Retail		338		(76	)		(65	)	July
Vacant	Bremerton, WA	Office		6,100		(428	)		1,198		August
American Golf Corporation	Oklahoma City, OK	Specialty		1,995		179			467		September
Vacant⁽³⁾	Bridgewater, NJ	Office		14,118		(2,203	)		(416	)	September
Addenbrooke Classical Academy	Lakewood, CO	Office		11,500		(227	)		314		September
Siemens Corporation	Milford, OH	Office		32,750		2,130			2,466		September
SM Ascott LLC, Tribeca Ascott LLC & AL-Stone Ground Tenant LLC	New York, NY	Land		338,200		34,773			15,484		September
			$	409,101	$	33,880		$	19,181

(1)

Quarterly period prior to sale annualized.

(2)

Excludes impairment charges recognized.

(3)

Conveyed to lender in a foreclosure sale. Lender has made a claim under a related non-recourse carveout guaranty. See periodic filings with the Securities and Exchange Commission for more information.

LEASING

At September 30, 2016, Lexington's overall portfolio was 95.3% leased compared with 96.2% leased at June 30, 2016, excluding properties subject to secured mortgage loans currently in default. The decrease relates primarily to a reduction in occupancy at the Temperance, Michigan property.

During the third quarter of 2016, Lexington executed the following new and extended leases:

LEASE EXTENSIONS

Location

Primary Tenant⁽¹⁾

Prior
Term

Lease
Expiration Date

Sq. Ft.

Office/Multi-Tenant

1-3

Honolulu

N/A

2016

2017

5,323

Total office lease extensions

5,323

Industrial

Hebron

Owens Corning Insulating Systems, LLC

05/2017

12/2019

250,410

Hebron

Owens Corning Insulating Systems, LLC

05/2017

12/2019

400,522

Total industrial lease extensions

650,932

Total lease extensions

656,255

	NEW LEASES
	Location			Lease Expiration Date	Sq. Ft.
	Office/Multi-Tenant
1	Indianapolis	IN	N/A	02/2018		3,764
2-4	Honolulu	HI	N/A	2016-2017		4,679
1	Total office lease extensions					8,443

	Industrial
1	Temperance	MI	Hollingsworth Logistics Group LLC	11/2021		290,000
1	Total new industrial leases					290,000
5	Total extended leases					298,443
10	TOTAL NEW AND EXTENDED LEASES					954,698

(1)

Leases greater than 10,000 square feet.

BALANCE SHEET/CAPITAL MARKETS

During the third quarter of 2016, Lexington satisfied $271.9 million of secured debt with a weighted-average interest rate of 4.9%.

In July 2016, the remaining $11.9 million original principal amount of Lexington's 6.00% Convertible Guaranteed Notes due 2030 were converted for 1,892,269 common shares.

In July 2016, Lexington obtained a $197.2 million 20-year non-recourse financing on its build-to-suit project in Lake Jackson, Texas. The loan bears interest at a fixed rate of 4.04% and matures in October 2036.

2016 EARNINGS GUIDANCE

Lexington now estimates that its net income attributable to common shareholders per diluted common share for the year ended December 31, 2016 will be within an expected range of $0.40 to $0.44. Lexington is increasing its Adjusted Company FFO guidance for the year ended December 31, 2016 to an expected range of $1.09 to $1.11 per diluted common share from a range of $1.07 to $1.10 per diluted common share. This guidance is forward looking, excludes the impact of certain items and is based on current expectations.

THIRD QUARTER 2016 CONFERENCE CALL

Lexington will host a conference call today, Thursday, November 3, 2016, at 8:30 a.m. Eastern Time, to discuss its results for the quarter ended September 30, 2016. Interested parties may participate in this conference call by dialing 1-844-825-9783 (U.S.), 1-412-317-5163 (International) or 1-855-669-9657 (Canada). A replay of the call will be available through February 3, 2017, at 1-877-344-7529 (U.S.), 1-412-317-0088 (International) or 1-855-669-9658 (Canada), pin code for all replay numbers is 10094638. A live webcast of the conference call will be available at www.lxp.com within the Investors section.

ABOUT LEXINGTON REALTY TRUST

Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) that owns a diversified portfolio of real estate assets consisting primarily of equity and debt investments in single-tenant net-leased commercial properties across the United States. Lexington seeks to expand its portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions. For more information, including Lexington's Quarterly Earnings and Supplemental Operating and Financial Data information package, or to follow Lexington on social media, visit www.lxp.com.

Contact:

Investor or Media Inquiries for Lexington Realty Trust:

Heather Gentry, Senior Vice President of Investor Relations

Lexington Realty Trust

Phone: (212) 692-7200 E-mail: hgentry@lxp.com

This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under Lexington's control which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the headings “Management's Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in Lexington's periodic reports filed with the Securities and Exchange Commission, including risks related to: (1) the authorization by Lexington's Board of Trustees of future dividend declarations, (2) Lexington's ability to achieve its estimates of net income attributable to common shareholders and Adjusted Company FFO for the year ending December 31, 2016, (3) the successful consummation of any lease, acquisition, build-to-suit, disposition, financing or other transaction, (4) the failure to continue to qualify as a real estate investment trust, (5) changes in general business and economic conditions, including the impact of any legislation, (6) competition, (7) increases in real estate construction costs, (8) changes in interest rates, (9) changes in accessibility of debt and equity capital markets, and (10) future impairment charges. Copies of the periodic reports Lexington files with the Securities and Exchange Commission are available on Lexington's web site at www.lxp.com. Forward-looking statements, which are based on certain assumptions and describe Lexington's future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects”, “may,” “plans,” “predicts,” “will,” “will likely result,” “is optimistic,” “goal,” “objective” or similar expressions. Except as required by law, Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington's expectations will be realized.

References to Lexington refer to Lexington Realty Trust and its consolidated subsidiaries. All interests in properties and loans are held through special purpose entities, which are separate and distinct legal entities, some of which are consolidated for financial statement purposes and/or disregarded for income tax purposes. The assets and credit of each special purpose entity with a property subject to a mortgage loan (a “property owner subsidiary”) are not available to creditors to satisfy the debt and other obligations of any other person, including any other special purpose entity or affiliate. Consolidated entities that are not property owner subsidiaries do not directly own any of the assets of a property owner subsidiary (or the general partner, member of managing member of such property owner subsidiary, but merely hold partnership, membership or beneficial interests therein which interests are subordinate to the claims of the property owner subsidiary's general partner's, member's or managing member's creditors).

Non-GAAP Financial Measures - Definitions

Lexington has used non-GAAP financial measures as defined by the Securities and Exchange Commission Regulation G in this Quarterly Earnings Release and in other public disclosures.

Lexington believes that the measures defined below are helpful to investors in measuring our performance or that of an individual investment. Since these measures exclude certain items which are included in their respective most comparable measures under generally accepted accounting principles (“GAAP”), reliance on the measures has limitations; management compensates for these limitations by using the measures simply as supplemental measures that are weighed in balance with other GAAP measures. These measures are not necessarily indications of our cash flow available to fund cash needs. Additionally, they should not be used as an alternative to the respective most comparable GAAP measures when evaluating Lexington's financial performance or cash flow from operating, investing or financing activities or liquidity.

Cash Rent: Cash Rent is calculated by making adjustments to GAAP rent to remove the impact of GAAP required adjustments to rental income such as adjustments for straight-line rents relating to free rent periods and contractual rent increases. Cash Rent excludes lease termination income. Lexington believes Cash Rent provides a meaningful indication of an investment's ability to fund cash needs.

Company Funds Available for Distribution (“FAD”): FAD is calculated by making adjustments to Adjusted Company FFO (see below) for (1) straight-line adjustments, (2) lease incentive amortization, (3) amortization of above/below market leases, (4) lease termination payments, net, (5) non-cash interest, net, (6) non-cash charges, net, (7) cash paid for tenant improvements, and (8) cash paid for lease costs. Although FAD may not be comparable to that of other real estate investment trusts (“REITs”), Lexington believes it provides a meaningful indication of its ability to fund cash needs. FAD is a non-GAAP financial measure and should not be viewed as an alternative measurement of operating performance to net income, as an alternative to net cash flows from operating activities or as a measure of liquidity.

Funds from Operations (“FFO”) and Adjusted Company FFO: Lexington believes that Funds from Operations, or FFO, which is a non-GAAP measure, is a widely recognized and appropriate measure of the performance of an equity REIT. Lexington believes FFO is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO when reporting their results. FFO is intended to exclude GAAP historical cost depreciation and amortization of real estate and related assets, which assumes that the value of real estate diminishes ratably over time. Historically, however, real estate values have risen or fallen with market conditions. As a result, FFO provides a performance measure that, when compared year over year, reflects the impact to operations from trends in occupancy rates, rental rates, operating costs, development activities, interest costs and other matters without the inclusion of depreciation and amortization, providing perspective that may not necessarily be apparent from net income.

The National Association of Real Estate Investment Trusts, or NAREIT, defines FFO as “net income (or loss) computed in accordance with GAAP, excluding gains (or losses) from sales of property, plus real estate depreciation and amortization and after adjustments for non-consolidated partnerships and joint ventures.” NAREIT clarified its computation of FFO to exclude impairment charges on depreciable real estate owned directly or indirectly. FFO does not represent cash generated from operating activities in accordance with GAAP and is not indicative of cash available to fund cash needs.

Lexington presents FFO available to common shareholders and unitholders - basic and also presents FFO available to all equityholders and unitholders - diluted on a company-wide basis as if all securities that are convertible, at the holder's option, into Lexington’s common shares, are converted at the beginning of the period. Lexington also presents Adjusted Company FFO available to all equityholders and unitholders - diluted which adjusts FFO available to all equityholders and unitholders - diluted for certain items which we believe are not indicative of the operating results of Lexington's real estate portfolio. Lexington believes this is an appropriate presentation as it is frequently requested by security analysts, investors and other interested parties. Since others do not calculate these measures in a similar fashion, these measures may not be comparable to similarly titled measures as reported by others. These measures should not be considered as an alternative to net income as an indicator of Lexington’s operating performance or as an alternative to cash flow as a measure of liquidity.

GAAP and Cash Yield or Capitalization Rate: GAAP and cash yields or capitalization rates are measures of operating performance used to evaluate the individual performance of an investment. These measures are not presented or intended to be viewed as a liquidity or performance measure that present a numerical measure of Lexington's historical or future financial performance, financial position or cash flows. The yield or capitalization rate is calculated by dividing the annualized NOI (as defined below, except GAAP rent adjustments are added back to rental income to calculate GAAP yield or capitalization rate) the investment is expected to generate (or has generated) divided by the acquisition/completion cost (or sale) price.

Net Operating Income (“NOI”): NOI is a measure of operating performance used to evaluate the individual performance of an investment. This measure is not presented or intended to be viewed as a liquidity or performance measure that presents a numerical measure of Lexington's historical or future financial performance, financial position or cash flows. Lexington defines NOI as operating revenues (rental income (less GAAP rent adjustments and lease termination income), tenant reimbursements and other property income) less property operating expenses. Other REITs may use different methodologies for calculating NOI, and accordingly, Lexington's NOI may not be comparable to other companies. Because NOI excludes general and administrative expenses, interest expense, depreciation and amortization, acquisition-related expenses, other nonproperty income and losses, and gains and losses from property dispositions, it provides a performance measure that, when compared year over year, reflects the revenues and expenses directly associated with owning and operating commercial real estate and the impact to operations from trends in occupancy rates, rental rates, and operating costs, providing a perspective on operations not immediately apparent from net income. Lexington believes that net income is the most directly comparable GAAP measure to NOI.

# # #

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited and in thousands, except share and per share data)

	Three months ended September 30,						Nine months ended September 30,
	2016			2015			2016			2015
Gross revenues:
Rental	$	98,952		$	98,095		$	304,158		$	300,551
Tenant reimbursements		7,379			7,343			23,366			23,662
Total gross revenues		106,331			105,438			327,524			324,213
Expense applicable to revenues:
Depreciation and amortization		(40,288	)		(39,712	)		(124,687	)		(121,795	)
Property operating		(11,472	)		(13,484	)		(34,843	)		(45,600	)
General and administrative		(7,510	)		(6,734	)		(23,032	)		(22,526	)
Non-operating income		3,080			2,515			9,500			8,213
Interest and amortization expense		(23,001	)		(21,931	)		(68,573	)		(68,273	)
Debt satisfaction gains (charges), net		2,538			(398	)		(818	)		13,753
Impairment charges		(72,890	)		(32,818	)		(75,904	)		(34,070	)
Gains on sales of properties		16,072			1,733			58,413			23,307
Income (loss) before provision for income taxes, equity in earnings of non-consolidated entities and discontinued operations		(27,140	)		(5,391	)		67,580			77,222
Provision for income taxes		(462	)		(75	)		(1,099	)		(464	)
Equity in earnings of non-consolidated entities		340			266			6,394			938
Income (loss) from continuing operations		(27,262	)		(5,200	)		72,875			77,696
Discontinued operations:
Income from discontinued operations		—			—			—			109
Provision for income taxes		—			—			—			(4	)
Gain on sale of property		—			—			—			1,577
Total discontinued operations		—			—			—			1,682
Net income (loss)		(27,262	)		(5,200	)		72,875			79,378
Less net (income) loss attributable to noncontrolling interests		2,232			(784	)		340			(2,525	)
Net income (loss) attributable to Lexington Realty Trust shareholders		(25,030	)		(5,984	)		73,215			76,853
Dividends attributable to preferred shares – Series C		(1,573	)		(1,573	)		(4,718	)		(4,718	)
Allocation to participating securities		(50	)		(72	)		(187	)		(264	)
Net income (loss) attributable to common shareholders	$	(26,653	)	$	(7,629	)	$	68,310		$	71,871
Income (loss) per common share – basic:
Income (loss) from continuing operations	$	(0.11	)	$	(0.03	)	$	0.29		$	0.30
Income from discontinued operations		—			—			—			0.01
Net income (loss) attributable to common shareholders	$	(0.11	)	$	(0.03	)	$	0.29		$	0.31
Weighted-average common shares outstanding – basic		234,207,396			234,018,062			233,151,600			233,457,400
Income (loss) per common share – diluted:
Income (loss) from continuing operations	$	(0.11	)	$	(0.03	)	$	0.28		$	0.30
Income from discontinued operations		—			—			—			0.01
Net income (loss) attributable to common shareholders	$	(0.11	)	$	(0.03	)	$	0.28		$	0.31
Weighted-average common shares outstanding – diluted		234,207,396			234,018,062			237,215,883			233,776,838
Amounts attributable to common shareholders:
Income (loss) from continuing operations	$	(26,653	)	$	(7,629	)	$	68,310		$	70,189
Income from discontinued operations		—			—			—			1,682
Net income (loss) attributable to common shareholders	$	(26,653	)	$	(7,629	)	$	68,310		$	71,871

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited and in thousands, except share and per share data)

	September 30, 2016			December 31, 2015
Assets:
Real estate, at cost	$	3,459,784		$	3,789,711
Real estate - intangible assets		598,359			692,778
Investments in real estate under construction		137,576			95,402
		4,195,719			4,577,891
Less: accumulated depreciation and amortization		1,201,043			1,179,969
Real estate, net		2,994,676			3,397,922
Assets held for sale		29,819			24,425
Cash and cash equivalents		117,791			93,249
Restricted cash		42,387			10,637
Investment in and advances to non-consolidated entities		63,963			31,054
Deferred expenses, net		34,697			42,000
Loans receivable, net		95,808			95,871
Rent receivable – current		8,875			7,193
Rent receivable – deferred		22,843			87,547
Other assets		39,092			18,505
Total assets	$	3,449,951		$	3,808,403

Liabilities and Equity:
Liabilities:
Mortgages and notes payable, net	$	757,718		$	872,643
Revolving credit facility borrowings		—			177,000
Term loans payable, net		500,839			500,076
Senior notes payable, net		494,153			493,526
Convertible guaranteed notes payable, net		—			12,126
Trust preferred securities, net		127,071			126,996
Dividends payable		47,944			45,440
Liabilities held for sale		2,220			8,405
Accounts payable and other liabilities		30,796			41,479
Accrued interest payable		11,632			8,851
Deferred revenue - including below market leases, net		43,904			42,524
Prepaid rent		17,432			16,806
Total liabilities		2,033,709			2,345,872

Commitments and contingencies
Equity:
Preferred shares, par value $0.0001 per share; authorized 100,000,000 shares:
Series C Cumulative Convertible Preferred, liquidation preference $96,770; 1,935,400 shares issued and outstanding		94,016			94,016
Common shares, par value $0.0001 per share; authorized 400,000,000 shares, 237,083,452 and 234,575,225 shares issued and outstanding in 2016 and 2015, respectively		24			23
Additional paid-in-capital		2,788,966			2,776,837
Accumulated distributions in excess of net income		(1,481,484	)		(1,428,908	)
Accumulated other comprehensive loss		(4,883	)		(1,939	)
Total shareholders’ equity		1,396,639			1,440,029
Noncontrolling interests		19,603			22,502
Total equity		1,416,242			1,462,531
Total liabilities and equity	$	3,449,951		$	3,808,403

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

EARNINGS PER SHARE

(Unaudited and in thousands, except share and per share data)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
EARNINGS PER SHARE:

Basic:
Income (loss) from continuing operations attributable to common shareholders	$	(26,653	)	$	(7,629	)	$	68,310		$	70,189
Income from discontinued operations attributable to common shareholders		—			—			—			1,682
Net income (loss) attributable to common shareholders	$	(26,653	)	$	(7,629	)	$	68,310		$	71,871

Weighted-average number of common shares outstanding - basic		234,207,396			234,018,062			233,151,600			233,457,400

Income (loss) per common share:
Income (loss) from continuing operations	$	(0.11	)	$	(0.03	)	$	0.29		$	0.30
Income from discontinued operations		—			—			—			0.01
Net income (loss) attributable to common shareholders	$	(0.11	)	$	(0.03	)	$	0.29		$	0.31

Diluted:
Income (loss) from continuing operations attributable to common shareholders - basic	$	(26,653	)	$	(7,629	)	$	68,310		$	70,189
Impact of assumed conversions		—			—			(1,083	)		—
Income (loss) from continuing operations attributable to common shareholders		(26,653	)		(7,629	)		67,227			70,189
Income from discontinued operations attributable to common shareholders - basic		—			—			—			1,682
Impact of assumed conversions		—			—			—			—
Income from discontinued operations attributable to common shareholders		—			—			—			1,682
Net income (loss) attributable to common shareholders	$	(26,653	)	$	(7,629	)	$	67,227		$	71,871

Weighted-average common shares outstanding - basic		234,207,396			234,018,062			233,151,600			233,457,400
Effect of dilutive securities:
Share options		—			—			246,166			319,438
Operating Partnership Units		—			—			3,818,117			—
Weighted-average common shares outstanding - diluted		234,207,396			234,018,062			237,215,883			233,776,838

Income (loss) per common share:
Income (loss) from continuing operations	$	(0.11	)	$	(0.03	)	$	0.28		$	0.30
Income from discontinued operations		—			—			—			0.01
Net income (loss) attributable to common shareholders	$	(0.11	)	$	(0.03	)	$	0.28		$	0.31

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

ADJUSTED COMPANY FUNDS FROM OPERATIONS & COMPANY FUNDS AVAILABLE FOR DISTRIBUTION

(Unaudited and in thousands, except share and per share data)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
FUNDS FROM OPERATIONS:
Basic and Diluted:
Net income (loss) attributable to common shareholders	$	(26,653	)	$	(7,629	)	$	68,310		$	71,871
Adjustments:
Depreciation and amortization		38,642			38,547			119,523			117,936
Impairment charges - real estate		72,890			32,818			75,904			34,070
Noncontrolling interests - OP units		(2,478	)		452			(1,083	)		1,542
Amortization of leasing commissions		1,646			1,166			5,164			3,859
Joint venture and noncontrolling interest adjustment		284			577			742			1,335
Gains on sales of properties, including non-consolidated entities		(16,072	)		(1,733	)		(63,791	)		(24,884	)
Tax on sales of properties		—			—			50			—
FFO available to common shareholders and unitholders - basic		68,259			64,198			204,819			205,729
Preferred dividends		1,573			1,573			4,718			4,718
Interest and amortization on 6.00% Convertible Guaranteed Notes		47			252			532			795
Amount allocated to participating securities		50			72			187			264
FFO available to all equityholders and unitholders - diluted		69,929			66,095			210,256			211,506
Debt satisfaction (gains) charges, net, including non-consolidated entities		(2,538	)		398			818			(13,689	)
Transaction costs/other		115			405			329			579
Adjusted Company FFO available to all equityholders and unitholders - diluted		67,506			66,898			211,403			198,396

FUNDS AVAILABLE FOR DISTRIBUTION:
Adjustments:
Straight-line adjustments		(11,317	)		(12,899	)		(35,697	)		(35,242	)
Lease incentives		414			212			1,256			1,157
Amortization of above/below market leases		572			287			1,527			(157	)
Lease termination payments, net		(2,190	)		2,067			244			666
Non-cash interest, net		(512	)		(598	)		(1,526	)		520
Non-cash charges, net		2,296			2,205			6,906			6,608
Tenant improvements		(1,173	)		(10,562	)		(1,292	)		(13,184	)
Lease costs		(1,458	)		(1,066	)		(6,165	)		(4,242	)
Company Funds Available for Distribution	$	54,138		$	46,544		$	176,656		$	154,522

Per Common Share and Unit Amounts
Basic:
FFO	$	0.29		$	0.27		$	0.86		$	0.87

Diluted:
FFO	$	0.29		$	0.27		$	0.86		$	0.87
Adjusted Company FFO	$	0.28		$	0.27		$	0.87		$	0.81

Basic:
Weighted-average common shares outstanding - basic EPS		234,207,396			234,018,062			233,151,600			233,457,400
Operating partnership units⁽¹⁾		3,815,386			3,852,974			3,818,117			3,852,974
Weighted-average common shares outstanding - basic FFO		238,022,782			237,871,036			236,969,717			237,310,374

Diluted:
Weighted-average common shares outstanding - diluted EPS		234,207,396			234,018,062			237,215,883			233,776,838
Unvested share-based payment awards		570,260			—			478,329			5,130
6.00% Convertible Guaranteed Notes		508,912			1,931,950			1,439,456			2,086,706
Operating partnership units⁽¹⁾		3,815,386			3,852,974			—			3,852,974
Share Options		238,395			200,993			—			—
Preferred shares - Series C		4,710,570			4,710,570			4,710,570			4,710,570
Weighted-average common shares outstanding - diluted FFO		244,050,919			244,714,549			243,844,238			244,432,218

(1) Includes OP units other than OP units held by Lexington.

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

RECONCILIATION OF NON-GAAP MEASURES

2016 EARNINGS GUIDANCE
	Twelve Months Ended December 31, 2016
	Range
Estimated:
Net income attributable to common shareholders per diluted common share⁽¹⁾	$	0.40	$	0.44
Depreciation and amortization		0.68		0.68
Impact of capital transactions		0.01		(0.01	)
Estimated Adjusted Company FFO per diluted common share	$	1.09	$	1.11

(1)

Assumes all convertible securities are dilutive.

LEXINGTON REALTY TRUST

2016 Third Quarter Investment / Capital Recycling Summary

PROPERTY INVESTMENTS

Primary Tenant	Location		Property Type	Initial Basis ($000)		Initial Estimated Annualized GAAP Rent ($000)		Initial Estimated Annualized Cash Rent ($000) ⁽¹⁾		Initial Estimated GAAP Yield ⁽¹⁾			Initial Estimated Cash Yield ⁽¹⁾			Month Closed	Primary Lease Expiration
Consolidated
Pacific Foods of Oregon, Inc.	Wilsonville	OR	Industrial	$	43,100	$	3,120	$	2,567		7.2	%		6.0	%	Sept	10/2032
Nonconsolidated
British Schools of America, LLC ⁽³⁾	Katy	TX	Private School	$	79,964	$	6,248	$	6,248		7.8	%		7.8	%	Sept	08/2036

CAPITAL RECYCLING

PROPERTY DISPOSITIONS

	Primary Tenant	Location		Property Type	Gross Sale Price ($000)		Annualized Net Income ($000)⁽²⁾			Annualized NOI ($000)⁽¹⁾⁽²⁾			Month of Disposition	% Leased			Gross Sale Price PSF
1	Multi-Tenant	Foxborough	MA	Office	$	4,100	$	(268	)	$	(267	)	July		11	%	$	53.75
2	Vacant	Franklin	OH	Retail		338		(76	)		(65	)	July		0	%		11.59
3	Vacant	Bremerton	WA	Office		6,100		(428	)		1,198		August		0	%		101.33
4	Vacant ⁽⁴⁾	Bridgewater	NJ	Office		14,118		(2,203	)		(416	)	September		0	%		122.17
5	Siemens Corporation	Milford	OH	Office		32,750		2,130			2,466		September		100	%		148.05
6	American Golf Corporation	Oklahoma City	OK	Specialty		1,995		179			467		September		100	%		N/A
7	Addenbrooke Classical Academy	Lakewood	CO	Office		11,500		(227	)		314		September		100	%		168.71
8-10	SM Ascott LLC, Tribeca Ascott LLC, and AL-Stone Ground Tenant LLC	New York	NY	Land		338,200		34,773			15,484		September		100	%		N/A

10	TOTAL PROPERTY DISPOSITIONS				$	409,101	$	33,880		$	19,181

Footnotes

(1)

See definitions of non-GAAP measures and reconciliations to applicable GAAP measures in this document.

(2)

2Q 2016 annualized.

(3)

Lexington had a 25% equity interest as of September 30, 2016. Lexington is providing construction financing up to $56.7 million to the joint venture of which $43.1 million has been funded as of September 30, 2016. Lease contains annual CPI increases.

(4)

LEXINGTON REALTY TRUST

2016 Third Quarter Build-to-Suit Projects

BUILD-TO-SUIT PROJECTED CONSTRUCTION FUNDING SCHEDULE ⁽¹⁾

	Location		Sq. Ft		Asset Type	Lease Term (Years)		Maximum Commitment/ Estimated Completion Cost ($000)		Investment balance as of 9/30/16 ($000)		Estimated Cash Investment Next 12 Months ($000)								Estimated Completion/ Acquisition Date	Estimated Initial GAAP Yield ⁽⁴⁾			Estimated Initial Cash Yield ⁽⁴⁾
												Q4 2016		Q1 2017		Q2 2017		Q3 2017
1	Lake Jackson ⁽²⁾	TX		664,000	Office		20	$	166,164	$	101,203	$	-	$	-	$	-	$	-	4Q 16 / 1Q 17		8.9	%		7.3	%
2	Charlotte	NC		201,000	Office		15		62,445		32,613		12,563		12,563		4,188		-	1Q 17		9.5	%		8.3	%
3	Opelika	AL		165,000	Industrial		25		37,000		3,760		12,327		12,327		8,218		-	2Q 17		9.0	%		7.1	%

3	TOTAL BUILD-TO-SUIT PROJECTS⁽³⁾							$	265,609	$	137,576	$	24,890	$	24,890	$	12,406	$	-

Footnotes

(1)

Lexington can give no assurance that any of the build-to-suit projects or other potential investments that are under commitment or contract or in process will be completed or, if completed, will perform to Lexington's expectations.

(2)

In July 2016, Lexington obtained $197.2 million of non-recourse financing. The loan bears interest at a fixed rate of 4.04%.

The estimated remaining costs to fund the project of $71.6 million were escrowed at closing, approximately $16.4 million of which were used during 3Q 2016 to fund project costs.

(3)

Investment balance in accordance with GAAP included in investment in real estate under construction.

Aggregate equity invested is $142.4 million.

(4)

See definitions of non-GAAP measures and reconciliations to applicable GAAP measures in this document.

LEXINGTON REALTY TRUST

2016 Third Quarter Financing Summary

DEBT RETIRED

Location	Primary Tenant	Property Type	Face / Satisfaction ($000)		Fixed Rate			Maturity Date

Consolidated Mortgage Debt:
Plymouth, IN	Bay Valley Foods, LLC	Industrial	$	5,723		6.315	%		09/2016
Glenwillow, OH	Royal Appliance Mfg. Co.	Industrial		15,132		6.130	%		09/2016
Bridgewater, NJ ⁽¹⁾	Vacant	Office		14,118		5.732	%		N/A
Farmers Branch, TX	International Business Machines Corporation	Office		18,363		5.939	%		07/2016
Bremerton, WA ⁽²⁾	Vacant	Office		5,479		6.090	%		N/A
New York, NY ⁽³⁾	SM Ascott LLC, Tribeca Ascott LLC and AL-Stone Ground Tenant LLC	Land		213,075		4.660	%		01/2027
			$	271,890

CORPORATE LEVEL DEBT

		Quarterly Activity, Net ($000)
Revolving Credit Facility		$123,000 satisfaction
6.00% Convertible Guaranteed Notes		$11,900 satisfaction (converted for 1,892,269 common shares)

NEW PROPERTY-LEVEL FINANCING

Location

Tenant

Property Type

Face
($000)

Fixed Rate

Maturity Date

Lake Jackson, TX ⁽⁴⁾

The Dow Chemical Company

BTS - Office

197,150

4.040

10/2036

Footnotes:

(1) Conveyed to lender in a foreclosure sale. Lender has made a claim under a related non-recourse carveout guaranty. See periodic filings with the Securities and Exchange Commission for more information.

(2) Mortgage in default prior to the sale of the property.

(3) Assumed by the buyer in connection with the sale of the properties.

(4) The estimated costs to complete the project were escrowed at closing.

LEXINGTON REALTY TRUST

2016 Third Quarter Leasing Summary

LEASE EXTENSIONS

	Tenant	Location		Prior Term		Lease Expiration Date	Sq. Ft.		New GAAP Rent Per Annum ($000)⁽¹⁾		Prior GAAP Rent Per Annum ($000)		New Cash Rent Per Annum ($000)⁽¹⁾⁽³⁾		Prior Cash Rent Per Annum ($000)⁽³⁾

	Office / Multi-Tenant Office
1-3	Various	Honolulu	HI	2016		2017		5,323	$	141	$	133	$	141	$	133

3	Total office lease extensions							5,323	$	141	$	133	$	141	$	133

	Industrial / Multi-Tenant Industrial
1	Owens Corning Insulating Systems, LLC	Hebron	OH	05/2017		12/2019		250,410	$	567	$	561	$	567	$	561
2	Owens Corning Insulating Systems, LLC	Hebron	OH	05/2017		12/2019		400,522		907		898		907		898

2	Total industrial lease extensions							650,932	$	1,474	$	1,459	$	1,474	$	1,459
					`
5	TOTAL EXTENDED LEASES							656,255	$	1,615	$	1,592	$	1,615	$	1,592

NEW LEASES

	Tenant	Location		Lease Expiration Date	Sq. Ft.		New GAAP Rent Per Annum ($000)⁽¹⁾		New Cash Rent Per Annum ($000)⁽¹⁾⁽³⁾
	Office/Multi-Tenant Office
1	DMC Insurance Inc.	Indianapolis	IN	02/2018		3,764		70		70
2-4	Various	Honolulu	HI	2016-2017		4,679		61		61

4	Total office new leases					8,443	$	131	$	131

	Industrial/Multi-Tenant Industrial
1	Hollingsworth Logistics Group, LLC	Temperance	MI	11/2021		290,000	$	928	$	870

1	Total industrial new lease					290,000	$	928	$	870

5	TOTAL NEW LEASES					298,443	$	1,059	$	1,001

10	TOTAL NEW AND EXTENDED LEASES					954,698	$	2,674	$	2,616

LEXINGTON REALTY TRUST

2016 Third Quarter Leasing Summary (Continued)

LEASE NON-RENEWALS ⁽²⁾

	Tenant	Location			Lease Expiration Date		Sq. Ft.		YTD 6/30/2016 GAAP Rent ($000)		YTD 6/30/2016 Cash Rent ($000)⁽³⁾
	Office
1	Hagemeyer North America, Inc.		Charleston	SC		07/2016		29,652	$	592	$	258
2	Michelin North America, Inc.		Temperance	MI		07/2016		744,570		1,143		1,143

2	TOTAL LEASE NON-RENEWALS							774,222	$	1,735	$	1,401

Footnotes

(1)

Assumes twelve months rent from the later of 10/1/16 or lease commencement/extension, excluding free rent periods as applicable.

(2)

Excludes multi-tenant properties.

(3)

See definitions of non-GAAP measures and reconciliations to applicable GAAP measures in this document.

LEXINGTON REALTY TRUST

Other Revenue Data

9/30/2016

($000)

Other Revenue Data

	GAAP Rent
Asset Class	Nine months ended
	9/30/16 ⁽¹⁾		9/30/16 Percentage			9/30/15 Percentage ⁽⁵⁾
Office	$	144,055		55.1	%		50.2	%
Industrial		98,073		37.5	%		29.6	%
Multi-tenant		10,125		3.9	%		3.3	%
Other		9,074		3.5	%		16.9	%
	$	261,327		100.0	%		100.0	%

	GAAP Rent
Credit Ratings ⁽²⁾	Nine months ended
	9/30/16 ⁽¹⁾		9/30/16 Percentage			9/30/15 Percentage
Investment Grade	$	100,636		38.5	%		35.0	%
Non-Investment Grade		44,346		17.0	%		15.0	%
Unrated		116,345		44.5	%		50.0	%
	$	261,327		100.0	%		100.0	%

Weighted-Average Lease Term - Cash Basis		As of 9/30/16				As of 9/30/15
			8.6 years				8.7 years	⁽³⁾

Rent Estimates for Current Assets

Year	GAAP ⁽⁴⁾		Cash ⁽⁴⁾		Projected Straight-line / GAAP Rent Adjustments
2016 - remaining	$	86,854	$	81,716	$	(5,138	)
2017	$	333,773	$	320,600	$	(13,173	)

Footnotes

(1)

Nine months ended 9/30/2016 GAAP rent recognized for consolidated properties owned as of 9/30/2016.

(2)

Credit ratings are based upon either tenant, guarantor or parent. Generally, multi-tenant assets are included in unrated.

(3)

Adjusted to reflect NY land leases to first purchase option date.

(4)

Amounts assume (1) lease terms for non-cancellable periods only, (2) no new or renegotiated leases are entered into after 9/30/2016, and (3) no properties are sold or acquired after 9/30/2016.

(5)

Houston, TX (Industrial Terminals Management L.L.C. and Missouri City, TX (Vulcan Construction Materials, LP) reclassed to industrial.

LEXINGTON REALTY TRUST

Other Revenue Data (Continued)

9/30/2016

($000)

Same-Store NOI ⁽¹⁾

	Nine months ended September 30,
		2016			2015
Total Cash Rent	$	211,336		$	214,884
Tenant Reimbursements		19,282			19,976
Property Operating Expenses		(29,295	)		(32,263	)
Same-Store NOI	$	201,323		$	202,597

Change in Same-Store NOI		(0.6	)%

Same-Store Percent Leased⁽²⁾		As of 9/30/16			As of 9/30/15
		95.0	%		96.8	%

Lease Escalation Data ⁽³⁾

Footnotes

(1)

NOI is on a consolidated cash basis for all consolidated properties except properties acquired/expanded and sold in 2016 and 2015 and properties subject to secured mortgage loans in default at September 30, 2016. See definitions of non-GAAP measures and reconciliations to applicable GAAP measures in this document.

(2)

Excludes properties acquired or sold in 2016 and 2015 and properties subject to secured mortgage loans in default as of 9/30/2016.

(3)

Based on nine months consolidated cash rents for single-tenant leases (properties greater than 70% leased) owned as of September 30, 2016. Excludes parking operations and rents from prior tenants.

LEXINGTON REALTY TRUST
Portfolio Detail By Asset Class
9/30/2016
($000, except square footage)

Asset Class	YE 2013			YE 2014			YE 2015			3Q 2016

Office
% of ABR⁽¹⁾		61.3	%		51.4	%		50.1	%		55.1	%
LTL ⁽⁵⁾		26.8	%		31.8	%		23.4	%		27.9	%
STL ⁽⁶⁾		73.2	%		68.2	%		76.6	%		72.1	%
Leased		99.0	%		98.6	%		99.6	%		99.6	%
Wtd. Avg. Lease Term ⁽²⁾		7.2			7.4			7.2			7.0
Mortgage Debt	$	692,460		$	426,635		$	329,696		$	308,125
% Investment Grade ⁽¹⁾		57.2	%		53.7	%		48.7	%		48.8	%
Square Feet		15,316,875			13,264,134			12,847,877			11,621,528

Industrial ⁽⁷⁾
% of ABR ⁽¹⁾		25.2	%		25.2	%		30.2	%		37.5	%
LTL ⁽⁵⁾		40.3	%		47.9	%		47.4	%		53.6	%
STL ⁽⁶⁾		59.7	%		52.1	%		52.6	%		46.4	%
Leased		99.8	%		99.7	%		99.6	%		99.9	%
Wtd. Avg. Lease Term ⁽²⁾		8.4			8.8			10.1			10.6
Mortgage Debt	$	206,209		$	177,951		$	292,293		$	242,343
% Investment Grade ⁽¹⁾		31.4	%		26.6	%		27.9	%		27.8	%
Square Feet		21,606,443			22,745,140			25,693,585			26,518,987

Multi-Tenant
% of ABR ⁽¹⁾		7.9	%		8.7	%		3.0	%		3.9	%
Leased		66.4	%		53.9	%		44.1	%		40.4	%
Wtd. Avg. Lease Term ⁽²⁾		7.0			6.9			3.4			3.2
Mortgage Debt	$	71,754		$	116,763		$	14,118		$	14,578
% Investment Grade⁽¹⁾		34.5	%		19.3	%		36.9	%		14.0	%
Square Feet		2,259,189			2,414,889			2,301,864			3,302,936

Other
% of ABR ⁽¹⁾		5.6	%		14.7	%		16.7	%		3.5	%
LTL ⁽⁵⁾		61.2	%		86.8	%		88.0	%		42.7	%
STL ⁽⁶⁾		38.8	%		13.2	%		12.0	%		57.3	%
Leased		98.5	%		94.3	%		98.0	%		100.0	%
Wtd. Avg. Lease Term ⁽²⁾⁽³⁾		18.2			18.2			18.5			14.8
Mortgage Debt	$	227,066		$	226,645		$	255,218		$	2,849
% Investment Grade ⁽¹⁾		9.4	%		4.5	%		3.3	%		17.8	%
Square Feet		1,489,267			1,447,724			1,426,697			1,306,578

Loans Receivable	$	99,443		$	105,635		$	95,871		$	95,808
Construction in progress ⁽⁴⁾	$	78,656		$	121,184		$	103,954		$	138,365

Footnotes

(1) Percentage of GAAP rent.

(2) Cash basis.

(3) Cash basis adjusted to reflect NY land leases to the first purchase option date.

(4) Includes development classified as real estate under construction on a consolidated basis.

(5) Long-term leases ("LTL") are defined as leases having a remaining term of ten years or longer.

(6) Short-term leases ("STL") are defined as leases having a remaining term of less than ten years.

(7) Houston, TX (Industrial Terminals Management, L.L.C.) and Missouri City, TX (Vulcan Construction Materials, LP) reclassed to industrial.

LEXINGTON REALTY TRUST

Portfolio Composition

9/30/2016

Footnotes

(1) Based on gross book value of real estate assets, real estate under construction, and loans receivable as of 9/30/2016.

(2) Based on nine months GAAP rent as of 9/30/2016.

LEXINGTON REALTY TRUST

Components of Net Asset Value

9/30/2016

($000)

The purpose of providing the following information is to enable readers to derive their own estimates of net asset value. This information is not intended to be an asset-by-asset or enterprise valuation.

Consolidated properties nine month net operating income (NOI)⁽¹⁾
Office	$	128,583
Industrial		89,561
Multi-Tenant		2,413
Other		6,538
Total Net Operating Income	$	227,095

Lexington's share of non-consolidated nine month NOI ⁽¹⁾
Office	$	800
Other		896
	$	1,696
Other income
Advisory fees	$	630

In service assets not fairly valued by capitalized NOI method ⁽¹⁾
Wholly-owned assets less than 70% leased	$	99,025
Wholly-owned assets acquired in 2016	$	132,315
Non-consolidated asset completed in 2016	$	50,825

Add other assets:
Assets held for sale	$	29,819
Loans receivable		95,808
Development investment at cost incurred		143,143
Cash and cash equivalents		117,791
Restricted cash		42,387
Accounts receivable, net		8,875
Other assets		39,092
Total other assets	$	476,915

Liabilities:
Corporate level debt (face amount)	$	1,134,120
Mortgages and notes payable (face amount)		765,045
Liabilities held for sale		2,220
Dividends payable		47,944
Accounts payable, accrued expenses and other liabilities		59,860
Preferred stock, at liquidation value		96,770
Lexington's share of non-consolidated mortgages		8,502
Total deductions	$	2,114,461

Common shares & OP units at 9/30/2016		240,897,554

Footnotes

(1)

NOI for the existing property portfolio at September 30, 2016, excludes NOI related to assets undervalued by a capitalized NOI method and assets held for sale. Assets undervalued by a capitalized NOI method are identified generally by occupancies under 70% and assets acquired in 2016. For assets in this category an NOI capitalization approach is not appropriate, and accordingly, the Company's net book value has been used. See definitions of non-GAAP measures and reconciliations to applicable GAAP measures in this document.

LEXINGTON REALTY TRUST

Top Markets

9/30/2016

	Core Based Statistical Area ⁽²⁾	Percent of GAAP Rent as of 9/30/16 ⁽¹⁾
1	Houston-Sugar Land-Baytown, TX		8.0	%
2	Dallas-Fort Worth-Arlington, TX		7.0	%
3	Memphis, TN-MS-AR		4.8	%
4	Kansas City, MO-KS		4.3	%
5	Phoenix-Mesa-Scottsdale, AZ		4.3	%
6	New York-Northern New Jersey-Long Island, NY-NJ-PA		3.9	%
7	Kennewick-Pasco-Richland, WA		3.8	%
8	Richmond, VA		3.4	%
9	Detroit-Warren-Livonia, MI		3.1	%
10	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD		2.5	%
11	Denver-Aurora, CO		2.4	%
12	Indianapolis-Carmel, IN		2.4	%
13	Columbus, OH		2.1	%
14	Las Vegas-Paradise, NV		2.0	%
15	San Jose-Sunnyvale-Santa Clara, CA		1.9	%
16	Charlotte-Gastonia-Rock Hill, NC-SC		1.9	%
17	Jackson, MS		1.8	%
18	Chicago-Naperville-Joliet, IL-IN-WI		1.8	%
19	Orlando-Kissimmee, FL		1.6	%
20	Atlanta-Sandy Springs-Marietta, GA		1.6	%
	Total Top Markets ⁽³⁾		64.3	%

Footnotes

(1)

Nine months ended 9/30/2016 GAAP rent recognized for consolidated properties owned as of 9/30/2016.

(2)

A Core Based Statistical Area is the official term for a functional region based around an urban center of at least 10,000 people, based on standards published by the Office of Management and Budget (OMB) in 2000. These standards are used to replace the definitions of metropolitan areas that were defined in 1990.

(3)

Total shown may differ from detailed amounts due to rounding.

LEXINGTON REALTY TRUST

Single-Tenant Office Markets ⁽¹⁾⁽²⁾

9/30/2016

Footnotes

(1)

Nine months ended 9/30/2016 GAAP rent recognized for consolidated single-tenant office properties owned as of 9/30/2016.

(2)

LEXINGTON REALTY TRUST

Tenant Industry Diversification ⁽¹⁾

9/30/2016

Footnotes

(1)

Nine months ended 9/30/2016 GAAP rent recognized for consolidated properties owned as of 9/30/2016.

LEXINGTON REALTY TRUST

Top 10 Tenants or Guarantors

9/30/2016

Top 10 Tenants or Guarantors - GAAP Basis

Tenants or Guarantors	Number of Leases		Sq. Ft. Leased		Sq. Ft. Leased as a Percent of Consolidated Portfolio ⁽²⁾			GAAP Rent as of 9/30/2016 ($000) ⁽¹⁾		Percent of GAAP Rent as of 9/30/2016 ($000) ^{(1) (2)}
Preferred Freezer Services of Richland, LLC (Preferred Freezer Services, LLC & Preferred Freezer Services Operating, LLC)		1		456,412		1.1	%	$	9,850		3.8	%
FedEx Corporation / Federal Express Corporation		2		661,616		1.5	%		9,111		3.5	%
United States of America		3		398,214		0.9	%		8,210		3.1	%
Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)		7		2,053,359		4.8	%		7,456		2.9	%
Nissan North America, Inc.		2		1,691,049		4.0	%		7,219		2.8	%
Swiss Re America Holding Corporation / Westport Insurance Corporation / Swiss Re Management (US) Corporation		2		476,123		1.1	%		5,748		2.2	%
McGuireWoods LLP		1		224,537		0.5	%		5,388		2.1	%
Morgan, Lewis & Bockius LLP		1		289,432		0.7	%		5,283		2.0	%
Industrial Terminals Management, L.L.C. (Maritime Holdings (Delaware) LLC)		1		132,449		0.3	%		5,080		1.9	%
Xerox Corporation		1		202,000		0.5	%		4,981		1.9	%
		21		6,585,191		15.4	%	$	68,326		26.1	%

Footnotes

(1) Nine months ended 9/30/2016 GAAP rent recognized for consolidated properties owned as of 9/30/2016.

(2) Total shown may differ from detailed amounts due to rounding.

LEXINGTON REALTY TRUST

Lease Rollover Schedule - Consolidated Single-Tenant Properties GAAP Basis

9/30/2016

($000)

Year	Number of Leases Expiring		GAAP Rent as of 9/30/2016		Percent of GAAP Rent as of 9/30/2016			Percent of GAAP Rent as of 9/30/2015
2016 - remaining		2	$	965		0.4	%		0.4	%
2017		12		17,531		7.0	%		6.6	%
2018		31		17,871		7.2	%		6.7	%
2019		23		23,431		9.4	%		8.1	%
2020		15		16,937		6.8	%		6.5	%
2021		11		17,000		6.8	%		6.2	%
2022		5		7,448		3.0	%		3.5	%
2023		6		8,782		3.5	%		3.6	%
2024		9		10,267		4.1	%		3.9	%
2025		19		24,469		9.8	%		9.2	%
Thereafter		67		104,442		41.9	%		41.1	%

Total ⁽¹⁾		200	$	249,143		100.0	%

Footnotes

(1) Total shown may differ from detailed amounts due to rounding and does not include multi-tenant properties and parking operations.

LEXINGTON REALTY TRUST

Lease Rollover Schedule - Consolidated Properties GAAP Basis

9/30/2016

($000)

Year	Number of Leases Expiring		GAAP Rent as of 9/30/2016		Percent of GAAP Rent as of 9/30/2016
2016 - remaining		20	$	1,254		0.5	%
2017		26		17,868		7.0	%
2018		44		19,592		7.7	%
2019		27		24,656		9.6	%
2020		16		17,006		6.7	%
2021		18		19,470		7.6	%
2022		5		7,448		2.9	%
2023		6		8,782		3.4	%
2024		9		10,267		4.0	%
2025		20		24,777		9.7	%
Thereafter		67		104,442		40.9	%

Total ⁽¹⁾		258	$	255,562		100.0	%

Footnotes

(1) Total shown may differ from detailed amounts due to rounding and does not include parking operations.

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 9/30/2016

Year of Lease Expiration	Date of Lease Expiration	Property Location	City	State	Note	Primary Tenant (Guarantor)	Sq.Ft. Leased or Available (1)		GAAP Rent as of 9/30/2016 ($000) (3)		Cash Rent as of 9/30/2016 ($000) (2)		9/30/2016 Debt Balance ($000)		Debt Maturity
OFFICE PROPERTIES
2016	10/31/2016	104 & 110 South Front St.	Memphis	TN	—	Hnedak Bobo Group, Inc.		37,229		376		389		3,502	01/2017
2017	1/31/2017	10300 Kincaid Dr.	Fishers	IN	16	Roche Diagnostics Operations, Inc.		193,000		4,122		2,678		-	-
		1311 Broadfield Blvd.	Houston	TX	5	Transocean Offshore Deepwater Drilling, Inc. (Transocean Sedco Forex, Inc.)		155,040		4,363		1,977		-	-
	3/31/2017	1701 Market St.	Philadelphia	PA	—	Car-Tel Communications, Inc.		1,220		42		42		-	-
	9/30/2017	9201 East Dry Creek Rd.	Centennial	CO	—	Arrow Electronics, Inc.		128,500		2,274		2,092		-	-
	10/31/2017	4455 American Way	Baton Rouge	LA	—	New Cingular Wireless PCS, LLC		70,100		794		809		-	-
		5201 West Barraque St.	Pine Bluff	AR	—	Entergy Services, Inc.		27,189		240		291		-	-
	11/30/2017	6200 Northwest Pkwy.	San Antonio	TX	—	United HealthCare Services, Inc. / PacifiCare Healthsystems, LLC		142,500		1,400		1,506		-	-
	12/1/2017	800 East Canal St.	Richmond	VA	—	CRG-Richmond Tenant, LLC		51,450		409		409		-	-
2018	1/31/2018	820 Gears Rd.	Houston	TX	—	Ricoh Americas Corporation		78,895		866		825		-	-
	2/28/2018	10475 Crosspoint Blvd.	Indianapolis	IN	—	DMC Insurance Inc.		3,764		9		9		-	-
		850-950 Warrenville Rd.	Lisle	IL	—	Flexible Steel Lacing Company, d/b/a Flexco, Inc.		7,535		107		107		-	-
	5/30/2018	13651 McLearen Rd.	Herndon	VA	—	United States of America		159,644		2,552		2,761		-	-
	5/31/2018	8900 Freeport Pkwy.	Irving	TX	—	Pacific Union Financial, LLC.		43,396		588		673		-	-
	6/30/2018	100 Barnes Rd.	Wallingford	CT	—	3M Company		44,400		380		386		-	-
		420 Riverport Rd.	Kingsport	TN	—	Kingsport Power Company		42,770		96		233		-	-
	8/31/2018	2706 Media Center Dr.	Los Angeles	CA	—	Sony Electronics Inc.		20,203		137		137		-	-
		3500 North Loop Rd.	McDonough	GA	—	Litton Loan Servicing LP		62,218		715		1,000		-	-
	9/30/2018	1701 Market St.	Philadelphia	PA	—	CBC Restaurant Corp.		8,070		158		168		-	-
	10/31/2018	3943 Denny Ave.	Pascagoula	MS	—	Huntington Ingalls Incorporated		94,841		445		445		-	-
	12/22/2018	5200 Metcalf Ave.	Overland Park	KS	—	Swiss Re America Holding Corporation / Westport Insurance Corporation / Swiss Re Management (US) Corporation		320,198		3,936		3,912		33,667	05/2019
2019	1/31/2019	2999 Southwest 6th St.	Redmond	OR	—	VoiceStream PCS I, LLC / T-Mobile West Corporation (T-Mobile USA, Inc.)		77,484		1,101		1,327		-	-
	4/1/2019	9201 Stateline Rd.	Kansas City	MO	—	Swiss Re America Holding Corporation / Westport Insurance Corporation / Swiss Re Management (US) Corporation		155,925		1,812		1,812		16,047	05/2019
	6/19/2019	3965 Airways Blvd.	Memphis	TN	—	Federal Express Corporation		521,286		5,260		5,261		-	-
	6/30/2019	3265 East Goldstone Dr.	Meridian	ID	—	VoiceStream PCS Holding, LLC / T-Mobile PCS Holdings, LLC (T-Mobile USA, Inc.)		77,484		829		1,074		8,994	08/2019
	7/15/2019	19019 North 59th Ave.	Glendale	AZ	—	Honeywell International Inc.		252,300		1,426		1,431		-	-
	7/31/2019	500 Jackson St.	Columbus	IN	—	Cummins Inc.		390,100		3,405		3,571		17,743	07/2019
	10/31/2019	10475 Crosspoint Blvd.	Indianapolis	IN	—	John Wiley & Sons, Inc.		123,416		1,701		1,712		-	-
		9601 Renner Blvd.	Lenexa	KS	—	VoiceStream PCS II Corporation (T-Mobile USA, Inc.)		77,484		857		1,093		9,159	12/2019
	12/31/2019	400 Butler Farm Rd.	Hampton	VA	—	Nextel Communications of the Mid-Atlantic, Inc. (Nextel Finance Company)		100,632		754		759		-	-
		850-950 Warrenville Rd.	Lisle	IL	4	National-Louis University / James J. Benes & Associates, Inc.		91,879		1,174		1,190		9,377	N/A
2020	2/14/2020	5600 Broken Sound Blvd.	Boca Raton	FL	—	Canon Solutions America, Inc. (Oce - USA Holding, Inc.)		143,290		1,683		1,846		19,433	02/2020
	5/31/2020	2401 Cherahala Blvd.	Knoxville	TN	—	AdvancePCS, Inc. / CaremarkPCS, L.L.C.		59,748		580		565		-	-
	6/30/2020	3711 San Gabriel	Mission	TX	—	VoiceStream PCS II Corporation / T-Mobile West Corporation		75,016		742		709		-	-
	7/31/2020	13775 McLearen Rd.	Herndon	VA	12	Orange Business Services U.S., Inc. (Equant N.V.)		132,617		1,247		1,329		-	-
	8/31/2020	133 First Park Dr.	Oakland	ME	—	Omnipoint Holdings, Inc. (T-Mobile USA, Inc.)		78,610		860		1,085		8,665	10/2020
	9/30/2020	600 Business Center Dr.	Lake Mary	FL	—	JPMorgan Chase Bank, National Association		125,155		1,318		1,251		-	-
		9200 South Park Center Loop	Orlando	FL	—	Zenith Education Group, Inc. (ECMC Group, Inc.)		59,927		852		858		9,360	02/2017
		550 International Parkway	Lake Mary	FL	—	JPMorgan Chase Bank, National Association		125,920		1,322		1,259		-	-
	10/31/2020	12209 West Markham St.	Little Rock	AR	—	Entergy Arkansas, Inc.		36,311		178		178		-	-
2021	1/31/2021	1701 Market St.	Philadelphia	PA	—	Morgan, Lewis & Bockius LLP		289,432		3,224		3,269		-	-
	6/30/2021	1415 Wyckoff Rd.	Wall	NJ	—	New Jersey Natural Gas Company		157,511		2,830		2,830		14,816	01/2021
		2050 Roanoke Rd.	Westlake	TX	11, 18	Charles Schwab & Co, Inc.		130,199		1,715		498		-	-
	8/31/2021	333 Three D Systems Cir.	Rock Hill	SC	—	3D Systems Corporation		80,028		516		505		-	-

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 9/30/2016

Year of Lease Expiration	Date of Lease Expiration	Property Location	City	State	Note	Primary Tenant (Guarantor)	Sq.Ft. Leased or Available (1)		GAAP Rent as of 9/30/2016 ($000) (3)		Cash Rent as of 9/30/2016 ($000) (2)		9/30/2016 Debt Balance ($000)		Debt Maturity
OFFICE PROPERTIES
	11/30/2021	29 South Jefferson Rd.	Whippany	NJ	—	CAE SimuFlite, Inc. (CAE INC.)		123,734		1,745		1,898		13,343	11/2021
	12/31/2021	2800 Waterford Lake Dr.	Midlothian	VA	—	Alstom Power, Inc.		99,057		1,638		1,692		-	-
2022	6/30/2022	8555 South River Pkwy.	Tempe	AZ	—	Versum Materials US, LLC		95,133		1,302		1,225		-	-
	7/31/2022	1440 E 15th Street	Tucson	AZ	—	CoxCom, LLC		28,591		420		420		-	-
	11/30/2022	4201 Marsh Ln.	Carrollton	TX	—	Carlson Restaurants Inc. (Carlson, Inc.)		130,000		1,399		1,620		-	-
	12/31/2022	231 N. Martingale Rd.	Schaumburg	IL	—	CEC Educational Services, LLC (Career Education Corporation)		317,198		3,322		3,299		-	-
2023	2/28/2023	1315 West Century Dr.	Louisville	CO	—	Rogue Wave Software, Inc.		20,000		205		165		-	-
	3/31/2023	8900 Freeport Pkwy.	Irving	TX	—	Nissan Motor Acceptance Corporation (Nissan North America, Inc.)		225,049		2,569		2,739		-	-
	12/14/2023	3333 Coyote Hill Rd.	Palo Alto	CA	—	Xerox Corporation		202,000		4,981		5,303		44,611	12/2023
2024	2/14/2024	1362 Celebration Blvd.	Florence	SC	—	MED3000, Inc.		32,000		430		415		-	-
	5/31/2024	3476 Stateview Blvd.	Fort Mill	SC	—	Wells Fargo Bank, N.A.		169,083		1,464		1,380		-	-
		3480 Stateview Blvd.	Fort Mill	SC	—	Wells Fargo Bank, N.A.		169,218		1,519		1,381		-	-
	8/31/2024	10475 Crosspoint Blvd.	Indianapolis	IN	—	RGN-Indianapolis I, LLC		14,236		220		220		-	-
	10/31/2024	1409 Centerpoint Blvd.	Knoxville	TN	—	Alstom Power, Inc.		84,404		941		858		-	-
	12/31/2024	12000 & 12025 Tech Center Dr.	Livonia	MI	—	Kelsey-Hayes Company (TRW Automotive Inc.)		180,230		1,268		1,204		-	-
2025	1/31/2025	1401 Nolan Ryan Expy.	Arlington	TX	—	Triumph Aerostructures, LLC (Triumph Group, Inc.)		111,409		1,216		1,256		-	-
	2/28/2025	6555 Sierra Dr.	Irving	TX	—	TXU Energy Retail Company, LLC (Texas Competitive Electric Holdings Company, LLC)		247,254		2,103		2,260		-	-
		1401 Nolan Ryan Expy.	Arlington	TX	—	Cyient, Inc. (Infotech Enterprise Limited)		13,590		148		153		-	-
	3/14/2025	601 & 701 Experian Pkwy.	Allen	TX	—	Experian Information Solutions, Inc. / TRW, Inc.(Experian Holdings, Inc.)		292,700		2,225		2,305		-	-
	3/31/2025	2706 Media Center Dr.	Los Angeles	CA	—	Bank of America, National Association		62,323		683		673		-	-
	5/31/2025	1701 Market St.	Philadelphia	PA	—	TruMark Financial Credit Union		2,641		180		180		-	-
	6/30/2025	2500 Patrick Henry Pkwy.	McDonough	GA	—	Georgia Power Company		111,911		1,066		995		-	-
	9/30/2025	10001 Richmond Ave.	Houston	TX	—	Schlumberger Holdings Corp.		554,385		4,529		3,950		-	-
	11/30/2025	11707 Miracle Hills Dr.	Omaha	NE	—	Wipro Data Center and Cloud Services, Inc. (Infocrossing, Inc.)		85,200		875		875		-	-
	12/31/2025	2005 East Technology Cir.	Tempe	AZ	—	Wipro Data Center and Cloud Services, Inc. (Infocrossing, Inc.)		60,000		846		846		-	-
		4001 International Pkwy.	Carrollton	TX	—	Motel 6 Operating, LP		138,443		1,669		1,597		-	-
2026	3/31/2026	500 Olde Worthington Rd.	Westerville	OH	—	InVentiv Communications, Inc.		97,000		830		560		-	-
	4/30/2026	800 East Canal St.	Richmond	VA	—	Richmond Belly Ventures, LLC (David Duke, Lauren Duke, Terrence Kee, Cara Kee and John Bokel)		2,568		32		32		-	-
	6/30/2026	10419 North 30th St.	Tampa	FL	—	Time Customer Service, Inc. / Time Incorporated		132,981		605		964		-	-
	8/31/2026	2211 South 47th St.	Phoenix	AZ	7	Avnet, Inc.		176,402		2,004		1,652		-	-
	11/30/2026	500 Kinetic Dr.	Huntington	WV	—	AMZN WVCS LLC (Amazon.com, Inc.)		68,693		951		817		6,500	02/2017
	12/29/2026	5500 New Albany Rd.	Columbus	OH	—	Evans, Mechwart, Hambleton & Tilton, Inc.		104,807		1,303		1,234		-	-
2027	1/31/2027	1701 Market St.	Philadelphia	PA	—	Drybar Holdings LLC		1,975		-		-		-	-
	4/30/2027	1315 West Century Dr.	Louisville	CO	—	Global Healthcare Exchange, Inc. (Global Healthcare Exchange, LLC)		86,877		967		890		-	-
	6/30/2027	3902 Gene Field Rd.	St. Joseph	MO	—	Boehringer Ingelheim Vetmedica, Inc. (Boehringer Ingelheim USA Corporation)		98,849		1,495		1,376		-	-
	7/6/2027	2221 Schrock Rd.	Columbus	OH	—	MS Consultants, Inc.		42,290		473		445		-	-
	8/7/2027	25 Lakeview Dr.	Jessup	PA	—	TMG Health, Inc.		150,000		1,876		1,527		-	-
	10/31/2027	11201 Renner Blvd.	Lenexa	KS	—	United States of America		169,585		4,574		3,262		35,408	11/2027
	11/30/2027	1700 Millrace Dr.	Eugene	OR	10	Oregon Research Institute / Educational Policy Improvement Center		80,011		1,564		1,295		-	-
	12/31/2027	333 Mt. Hope Ave.	Rockaway	NJ	—	Atlantic Health System, Inc.		92,326		895		987		-	-
2028	4/30/2028	9655 Maroon Cir.	Englewood	CO	—	TriZetto Corporation		166,912		2,883		2,676		-	-
2029	1/31/2029	6226 West Sahara Ave.	Las Vegas	NV	—	Nevada Power Company		282,000		3,190		2,317		-	-
	3/31/2029	2800 High Meadow Cir.	Auburn Hills	MI	—	Faurecia USA Holdings, Inc.		278,000		2,660		2,365		-	-
2030	8/31/2030	800 East Canal St.	Richmond	VA	—	McGuireWoods LLP		224,537		5,388		4,884		57,500	02/2031

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 9/30/2016

Year of Lease Expiration	Date of Lease Expiration	Property Location	City	State	Note	Primary Tenant (Guarantor)	Sq.Ft. Leased or Available (1)		GAAP Rent as of 9/30/2016 ($000) (3)		Cash Rent as of 9/30/2016 ($000) (2)		9/30/2016 Debt Balance ($000)		Debt Maturity
OFFICE PROPERTIES
	9/30/2030	800 East Canal St.	Richmond	VA	—	CCA Industries, Inc. (The Riverstone Group, LLC),		25,707		520		493		-	-
2031	1/10/2031	810 Gears Rd.	Houston	TX	—	United States of America		68,985		1,084		567		-	-
	3/1/2031	800 East Canal St.	Richmond	VA	—	Towne Bank		26,047		661		407		-	-
2032	10/31/2032	143 Diamond Ave.	Parachute	CO	—	Encana Oil and Gas (USA) Inc. (Alenco Inc.)		49,024		963		821		-	-
	12/31/2032	3030 North 3rd St.	Phoenix	AZ	—	CopperPoint Mutual Insurance Company		252,400		3,792		3,103		-	-
2033	11/30/2033	1331 Capitol Ave.	Omaha	NE	—	The Gavilon Group, LLC		127,810		2,483		2,161		-	-
	12/31/2033	3000 Busch Lake Blvd.	Tampa	FL	—	BluePearl Holdings, LLC		17,000		378		378		-	-
		2910 Busch Lake Blvd.	Tampa	FL	—	BluePearl Holdings, LLC		2,500		42		42		-	-
		2950 Busch Lake Blvd.	Tampa	FL	—	BluePearl Holdings, LLC		8,000		119		119		-	-
		19311 SH 249	Houston	TX	—	BluePearl Holdings, LLC		12,622		169		169		-	-
2039	3/31/2039	854 Paragon Way	Rock Hill	SC	13	Physicians Choice Laboratory Services, LLC		104,497		1,429		1,456		-	-
2088	8/8/2088	800 East Canal St.	Richmond	VA	—	The City of Richmond, Virginia		-		308		308		-	-
N/A	N/A	1701 Market St.	Philadelphia	PA	—	Parking Operations		-		2,059		2,059		-	-
	Vacancy	1701 Market St.	Philadelphia	PA	—	(Available for Lease)		699		-		-		-	-
		810 Gears Rd.	Houston	TX	—	(Available for Lease)		9,910		-		-		-	-
		1401 Nolan Ryan Expy.	Arlington	TX	—	(Available for Lease)		36,809		-		-		-	-
OFFICE TOTAL/WEIGHTED AVERAGE						99.6% Leased		11,621,528	$	144,055	$	134,536	$	308,125

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 9/30/2016

Year of Lease Expiration	Date of Lease Expiration	Property Location	City	State	Note	Primary Tenant (Guarantor)	Sq. Ft. Leased or Available (1)		GAAP Rent as of 9/30/2016 ($000) (3)		Cash Rent as of 9/30/2016 ($000) (2)		9/30/2016 Debt Balance ($000)		Debt Maturity
INDUSTRIAL PROPERTIES
2016	12/31/2016	2935 Van Vactor Dr.	Plymouth	IN	9	Bay Valley Foods, LLC		300,500		589		620		-	-
2017	4/30/2017	3600 Army Post Rd.	Des Moines	IA	—	HP Enterprise Services, LLC		405,000		1,539		1,997		-	-
	9/30/2017	250 Swathmore Ave.	High Point	NC	—	Steelcase Inc.		244,851		815		857		-	-
	12/31/2017	2203 Sherrill Dr.	Statesville	NC	—	Ozburn-Hessey Logistics, LLC (OHH Acquisition Corporation)		639,800		1,437		1,555		-	-
2018	6/30/2018	1133 Poplar Creek Rd.	Henderson	NC	—	Staples, Inc.		196,946		645		640		-	-
		1650-1654 Williams Rd.	Columbus	OH	—	ODW Logistics, Inc.		772,450		1,007		1,010		-	-
	9/30/2018	50 Tyger River Dr.	Duncan	SC	—	Plastic Omnium Auto Exteriors, LLC		221,833		769		769		-	-
		904 Industrial Rd.	Marshall	MI	—	Tenneco Automotive Operating Company, Inc. (Tenneco, Inc.)		246,508		523		631		-	-
	12/31/2018	120 Southeast Pkwy. Dr.	Franklin	TN	—	Essex Group, Inc. (United Technologies Corporation)		289,330		551		551		-	-
		749 Southrock Dr.	Rockford	IL	—	Jacobson Warehouse Company, Inc. (Jacobson Distribution Company and Jacobson Transportation Company, Inc.)		150,000		353		394		-	-
2019	10/17/2019	10345 Philipp Pkwy.	Streetsboro	OH	—	L'Oreal USA S/D, Inc. (L’Oreal USA, Inc.)		649,250		1,958		2,113		17,388	09/2019
	12/31/2019	191 Arrowhead Dr.	Hebron	OH	—	Owens Corning Insulating Systems, LLC		250,410		419		419		-	-
		200 Arrowhead Dr.	Hebron	OH	—	Owens Corning Insulating Systems, LLC		400,522		670		670		-	-
		2415 US Hwy. 78 East	Moody	AL	—	Michelin North America, Inc.		595,346		1,056		1,045		-	-
		3686 South Central Ave.	Rockford	IL	—	Pierce Packaging Co.		93,000		230		230		-	-
2020	1/31/2020	101 Michelin Dr.	Laurens	SC	—	Michelin North America, Inc.		1,164,000		2,540		2,540		-	-
	3/31/2020	2425 Hwy. 77 North	Waxahachie	TX	—	James Hardie Building Products, Inc. (James Hardie NV & James Hardie Industries NV)		335,610		2,550		2,550		-	-
	5/31/2020	359 Gateway Dr.	Lavonia	GA	—	TI Group Automotive Systems, LLC (TI Automotive Ltd.)		133,221		714		900		7,408	12/2020
	6/30/2020	3102 Queen Palm Dr.	Tampa	FL	—	Time Customer Service, Inc. (Time Incorporated)		229,605		926		971		-	-
	9/30/2020	3350 Miac Cove Rd.	Memphis	TN	—	Mimeo.com, Inc.		107,400		306		329		-	-
	12/19/2020	1901 Ragu Dr.	Owensboro	KY	6	Unilever Supply Chain, Inc. (Unilever United States, Inc.)		443,380		1,119		897		-	-
2021	3/31/2021	2455 Premier Row	Orlando	FL	—	Walgreen Co. / Walgreen Eastern Co.		205,016		589		381		-	-
	5/31/2021	291 Park Center Dr.	Winchester	VA	—	Kraft Heinz Foods Company		344,700		1,057		998		-	-
	9/30/2021	3820 Micro Dr.	Millington	TN	—	Ingram Micro L.P. (Ingram Micro Inc.)		701,819		1,359		1,269		-	-
	10/25/2021	6938 Elm Valley Dr.	Kalamazoo	MI	—	Dana Commercial Vehicle Products, LLC (Dana Holding Corporation and Dana Limited)		150,945		1,310		1,520		-	-
	11/30/2021	2880 Kenny Biggs Rd.	Lumberton	NC	—	Quickie Manufacturing Corporation		423,280		1,017		1,045		-	-
2022	3/31/2022	5417 Campus Dr.	Shreveport	LA	—	The Tire Rack, Inc.		257,849		1,005		957		-	-
2023	2/28/2023	7670 Hacks Cross Rd.	Olive Branch	MS	—	MAHLE Aftermarket Inc. (MAHLE Industries, Incorporated)		268,104		679		667		-	-
	12/31/2023	1601 Pratt Ave.	Marshall	MI	—	Autocam Corporation		58,707		231		231		-	-
2024	4/30/2024	113 Wells St.	North Berwick	ME	—	United Technologies Corporation		993,685		1,352		1,475		3,777	04/2019
	5/31/2024	901 East Bingen Point Way	Bingen	WA	—	The Boeing Company		124,539		1,977		1,906		-	-
	10/31/2024	43955 Plymouth Oaks Blvd.	Plymouth	MI	—	Tower Automotive Operations USA I, LLC / Tower Automotive Products Inc. (Tower Automotive, Inc.)		290,133		1,096		1,034		-	-
2025	6/30/2025	10000 Business Blvd.	Dry Ridge	KY	—	Dana Light Axle Products, LLC (Dana Holding Corporation and Dana Limited)		336,350		1,009		1,009		-	-
		301 Bill Bryan Rd.	Hopkinsville	KY	—	Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)		424,904		1,266		1,266		-	-
		4010 Airpark Dr.	Owensboro	KY	—	Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)		211,598		906		906		-	-
		730 North Black Branch Rd.	Elizabethtown	KY	—	Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)		167,770		403		403		-	-
		750 North Black Branch Rd.	Elizabethtown	KY	—	Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)		539,592		2,129		2,129		-	-
	7/14/2025	590 Ecology Ln.	Chester	SC	—	Boral Stone Products LLC (Boral Limited)		420,597		1,258		1,703		8,172	08/2025
	7/31/2025	7005 Cochran Rd.	Glenwillow	OH	—	Royal Appliance Mfg. Co.		458,000		1,546		1,576		-	-
	12/31/2025	1700 47th Ave North	Minneapolis	MN	—	Owens Corning Roofing and Asphalt, LLC		18,620		412		412		-	-
2026	3/30/2026	121 Technology Dr.	Durham	NH	15	Heidelberg Americas, Inc. (Heidelberger Druckmaschinen AG) / Goss International Americas, Inc. (Goss International Corporation)		500,500		1,903		2,479		-	-
	3/31/2026	633 Garrett Pkwy.	Lewisburg	TN	—	Calsonic Kansei North America, Inc.		310,000		965		896		-	-
	6/30/2026	351 Chamber Dr.	Chillicothe	OH	—	The Kitchen Collection, Inc.		475,218		869		821		-	-
	9/30/2026	900 Industrial Blvd.	Crossville	TN	—	Dana Commercial Vehicle Products, LLC		222,200		433		433		-	-
	10/31/2026	5001 Greenwood Rd.	Shreveport	LA	—	Libbey Glass Inc. (Libbey Inc.)		646,000		1,624		1,602		19,000	07/2017
	11/30/2026	250 Rittenhouse Cir.	Bristol	PA	—	Northtec LLC (The Estée Lauder Companies Inc.)		241,977		860		834		-	-
		736 Addison Rd.	Erwin	NY	—	Corning Property Management Corporation		408,000		925		1,001		7,559	10/2018

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 9/30/2016

Year of Lease Expiration	Date of Lease Expiration	Property Location	City	State	Note	Primary Tenant (Guarantor)	Sq. Ft. Leased or Available (1)		GAAP Rent as of 9/30/2016 ($000) (3)		Cash Rent as of 9/30/2016 ($000) (2)		9/30/2016 Debt Balance ($000)		Debt Maturity
INDUSTRIAL PROPERTIES
2027	2/28/2027	3456 Meyers Ave.	Memphis	TN	—	Sears, Roebuck and Co. / Sears Logistics Services		780,000		1,271		1,194		-	-
		1501 Nolan Ryan Expy.	Arlington	TX	—	Arrow Electronics, Inc.		74,739		-		-		-	-
		554 Nissan Pkwy.	Canton	MS	—	Nissan North America, Inc.		1,466,000		4,650		4,326		-	-
	4/30/2027	2424 Alpine Rd.	Eau Claire	WI	20	Silver Spring Foods, Inc. (Huntsinger Farms, Inc.)		159,000		752		802		-	-
	12/31/2027	10590 Hamilton Ave.	Cincinnati	OH	—	The Hillman Group, Inc.		264,598		610		586		-	-
2028	3/31/2028	29-01-Borden Ave./29-10 Hunters Point Ave.	Long Island City	NY	—	FedEx Ground Package System, Inc. (FedEx Corporation)		140,330		3,851		3,578		47,038	03/2028
	8/31/2028	1420 Greenwood Rd.	McDonough	GA	11, 19	United States Cold Storage, Inc		296,972		1,649		1,060		22,001	11/2017
2029	11/24/2029	318 Pappy Dunn Blvd.	Anniston	AL	—	International Automotive Components Group North America, Inc.		276,782		1,305		1,197		-	-
2030	3/31/2030	549 Wingo Rd.	Byhalia	MS	—	Asics America Corporation (Asics Corporation)		855,878		3,271		2,928		-	-
	5/31/2030	3301 Stagecoach Rd. NE	Thomson	GA	—	Hollander Sleep Products, LLC (Hollander Home Fashions Holdings)		208,000		697		631		-	-
2031	5/31/2031	671 Washburn Switch Rd.	Shelby	NC	—	Clearwater Paper Corporation		673,518		1,950		1,753		-	-
2032	4/30/2032	13930 Pike Rd.	Missouri City	TX	—	Vulcan Construction Materials, LP (Vulcan Materials Company)		-		1,592		1,407		-	-
	10/31/2032	27255 SW 95th Ave.	Wilsonville	OR	—	Pacific Foods of Oregon Inc.		508,277		7		7		-	-
2034	9/30/2034	5625 North Sloan Ln.	North Las Vegas	NV	—	Nicholas and Co., Inc.		180,235		1,917		1,637		-	-
	10/31/2034	1001 Innovation Rd.	Rantoul	IL	—	Bell Sports, Inc. (Vista Outdoor Inc.)		813,126		3,134		2,658		-	-
2035	3/31/2035	13863 Industrial Rd.	Houston	TX	—	Curtis Kelly, Inc. (Spitzer Industries, Inc.)		187,800		1,826		1,523		-	-
		7007 F.M. 362 Rd.	Brookshire	TX	—	Orizon Industries, Inc. (Spitzer Industries, Inc.)		262,095		1,433		1,195		-	-
	6/30/2035	111 West Oakview Pkwy.	Oak Creek	WI	—	Stella & Chewy's LLC		164,007		1,573		1,399		-	-
	8/31/2035	2800 Polar Way	Richland	WA	21	Preferred Freezer Services of Richland, LLC (Preferred Freezer Services, LLC & Preferred Freezer Services Operating, LLC)		456,412		9,850		8,112		110,000	01/2026
	10/22/2035	2860 Clark St.	Detroit	MI	—	FCA US LLC (f/k/a Chrysler Group LLC)		190,003		1,623		1,623		-	-
2036	6/30/2036	100 Ryobi Drive	Anderson	SC	—	One World Technologies, Inc. (Techtronic Industries Co. Ltd.)		1,327,022		1,136		935		-	-
2038	3/31/2038	13901/14035 Industrial Rd.	Houston	TX	—	Industrial Terminals Management, L.L.C. (Maritime Holdings (Delaware) LLC)		132,449		5,080		4,180		-	-
N/A	Vacancy	3350 Miac Cove Rd.	Memphis	TN	—	(Available for Lease)		32,679		-		-		-	-
INDUSTRIAL TOTAL/WEIGHTED AVERAGE						99.9% Leased		26,518,987	$	98,073	$	93,372	$	242,343

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 9/30/2016

Year of Lease Expiration	Date of Lease Expiration	Property Location	City	State	Note	Primary Tenant (Guarantor)	Sq.Ft.		Percentage Leased			GAAP Rent as of 9/30/2016 ($000) (3)		Cash Rent as of 9/30/2016 ($000) (2)		9/30/2016 Debt Balance ($000)		Debt Maturity
MULTI-TENANT PROPERTIES (8,14)
		11511 Luna Rd.	Farmers Branch	TX	11	International Business Machines Corporation		180,507		37	%		1,503		1,239		-	-
		1200 Jupiter Rd.	Garland	TX	11	Available for lease		278,759		0	%		677		628		-	-
		13430 North Black Canyon Fwy.	Phoenix	AZ	—	Multi-Tenant		138,940		92	%		1,738		1,741		-	-
		1460 Tobias Gadson Blvd.	Charleston	SC	11	Hagemeyer North America, Inc.		50,076		41	%		1,129		540		7,115	02/2021
		1600 Eberhardt Rd.	Temple	TX	4	Nextel of Texas, Inc. (Nextel Finance Company)		108,800		50	%		660		672		7,463	N/A
		2210 Enterprise Dr.	Florence	SC	11	Caliber Funding, LLC		176,557		21	%		528		568		-	-
		26555 Northwestern Pkwy.	Southfield	MI	—	Available for lease		359,645		0	%		-		-		-	-
		275 Technology Dr.	Canonsburg	PA	7	Available for lease		107,872		0	%		-		-		-	-
		33 Commercial St. A	Foxborough	MA	—	Available for lease		84,441		0	%		-		-		-	-
		3165 McKelvey Rd.	Bridgeton	MO	—	BJC Health System		51,067		50	%		302		325		-	-
		6050 Dana Way	Antioch	TN	—	Multi-Tenant		674,528		98	%		1,706		1,670		-	-
		700 Oakmont Ln.	Westmont	IL	—	Available for lease		269,715		0	%		-		-		-	-
		7111 Crabb Rd.	Temperance	MI	11	Hollingsworth Logistics Group LLC		744,570		39	%		1,333		1,333		-	-
		King St./1042 Fort St. Mall	Honolulu	HI	—	Multi-Tenant		77,459		68	%		549		549		-	-
MULTI-TENANT TOTAL/WEIGHTED AVERAGE						40.4% Leased		3,302,936				$	10,125	$	9,265	$	14,578

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 9/30/2016

Year of Lease Expiration	Date of Lease Expiration	Property Location	City	State	Note	Primary Tenant (Guarantor)	Sq.Ft. Leased or Available (1)		GAAP Rent as of 9/30/2016 ($000) (3)		Cash Rent as of 9/30/2016 ($000) (2)		9/30/2016 Debt Balance ($000)		Debt Maturity
OTHER PROPERTIES
2017	6/30/2017	1600 East 23rd St.	Chattanooga	TN	—	BI-LO, LLC		42,130		96		96		-	-
2018	2/26/2018	4831 Whipple Ave., NW	Canton	OH	—	Best Buy Co., Inc.		46,350		349		349		-	-
	2/28/2018	291 Talbert Blvd.	Lexington	NC	—	Food Lion, LLC / Delhaize America, Inc.		23,000		104		104		-	-
		2411 West Beverly St.	Staunton	VA	—	Food Lion, LLC / Delhaize America, Inc.		23,000		124		124		-	-
	7/1/2018	1053 Mineral Springs Rd.	Paris	TN	—	The Kroger Co.		31,170		126		119		-	-
	9/30/2018	835 Julian Ave.	Thomasville	NC	—	Mighty Dollar, LLC		23,767		60		60		-	-
	10/31/2018	130 Midland Ave.	Port Chester	NY	—	St Anthony Supermarket Corp. (Anthony Pena, Marina Pena, Anthony Corona and Robert Corona)		59,613		731		344		-	-
		5104 North Franklin Rd.	Lawrence	IN	—	Marsh Supermarkets, Inc. / Marsh Supermarkets, LLC		28,721		145		145		-	-
	12/31/2018	1150 West Carl Sandburg Dr.	Galesburg	IL	—	Kmart Corporation (Sears, Roebuck and Co.)		94,970		247		122		307	07/2018
		12080 Carmel Mountain Rd.	San Diego	CA	—	Kmart Corporation (Sears, Roebuck and Co.)		107,210		563		139		348	07/2018
		21082 Pioneer Plaza Dr.	Watertown	NY	—	Kmart Corporation (Sears, Roebuck and Co.)		120,727		361		205		514	07/2018
		255 Northgate Dr.	Manteca	CA	—	Kmart Corporation (Sears, Roebuck and Co.)		107,489		416		218		546	07/2018
		5350 Leavitt Rd.	Lorain	OH	—	Kmart Corporation (Sears, Roebuck and Co.)		193,193		548		309		773	07/2018
		97 Seneca Trail	Fairlea	WV	—	Kmart Corporation (Sears, Roebuck and Co.)		90,933		260		144		361	07/2018
2019	3/31/2019	B.E.C. 45th St./Lee Blvd.	Lawton	OK	—	Associated Wholesale Grocers, Inc. / Safeway, Inc.		30,757		142		139		-	-
	12/31/2019	1066 Main St.	Forest Park	GA	—	Bank of America, N.A. (Bank of America Corporation)		14,859		150		150		-	-
		1698 Mountain Industrial Blvd.	Stone Mountain	GA	—	Bank of America, N.A. (Bank of America Corporation)		5,704		71		71		-	-
		201 West Main St.	Cumming	GA	—	Bank of America, N.A. (Bank of America Corporation)		14,208		149		149		-	-
		2223 North Druid Hills Rd.	Atlanta	GA	—	Bank of America, N.A. (Bank of America Corporation)		6,260		84		84		-	-
		4545 Chamblee – Dunwoody Rd.	Dunwoody	GA	—	Bank of America, N.A. (Bank of America Corporation)		4,565		66		66		-	-
		825 Southway Dr.	Jonesboro	GA	—	Bank of America, N.A. (Bank of America Corporation)		4,894		58		58		-	-
		956 Ponce de Leon Ave.	Atlanta	GA	—	Bank of America, N.A. (Bank of America Corporation)		3,900		59		59		-	-
2023	2/28/2023	733 East Main St.	Jefferson	NC	—	Food Lion, LLC / Delhaize America, Inc.		34,555		117		120		-	-
2026	5/31/2026	6910 South Memorial Hwy.	Tulsa	OK	—	Toys “R” Us, Inc. / Toys "R" Us-Delaware, Inc.		43,123		177		177		-	-
2028	8/31/2028	9803 Edmonds Way	Edmonds	WA	—	Puget Consumers Co-op d/b/a PCC Natural Markets		35,459		485		485		-	-
	11/30/2028	832 N. Westover Blvd .	Albany	GA	—	Gander Mountain Company		45,554		520		471		-	-
2029	1/31/2029	175 Holt Garrison Pkwy.	Danville	VA	—	Home Depot USA, Inc.		-		162		195		-	-
2043	2/28/2043	1237 W. Sherman Ave.	Vineland	NJ	—	HealthSouth Rehabilitation Hospital of South Jersey, LLC (HealthSouth Corporation)		39,287		846		846		-	-
2048	12/31/2048	30 Light St	Baltimore	MD	—	30 Charm City, LLC		-		224		224		-	-
2055	1/31/2055	499 Derbyshire Dr.	Venice	FL	—	Littlestone Brotherhood LLC		31,180		1,431		965		-	-
2112	8/31/2112	201-215 N. Charles St.	Baltimore	MD	—	201 NC Leasehold LLC		-		203		203		-	-
OTHER TOTAL/WEIGHTED AVERAGE						100% Leased		1,306,578	$	9,074	$	6,940	$	2,849

TOTAL CONSOLIDATED PORTFOLIO/WEIGHTED AVERAGE						95.2% Leased (17)		42,750,029	$	261,327	$	244,113	$	567,895

Footnotes

Square footage leased or available.

Nine months ended 9/30/2016 cash rent. See definitions of non-GAAP measures and reconciliations to applicable GAAP measures in this document.

Nine months ended 9/30/2016 GAAP rent.

Mortgage encumbering the property is in default.

Tenant terminated its lease effective 1/31/2017 for a cash payment of $3.5 million received in 2015.

Lexington has a 71.1% interest in this property.

Property sold subsequent to 9/30/2016.

Multi-tenant properties are properties less than 50% leased to a single tenant.

Subsequent to 9/30/2016, lease extended to 12/31/2018.

Educational Policy Improvement Center lease for 10,791 square feet expires 11/2019; however, space is then leased to Oregon Research Institute through 11/2027.

Cash and GAAP rent amounts represent/include prior tenant.

21,365 square feet is leased to 7/31/2025.

On October 26, 2016, the tenant filed an assignment for the benefit of creditors under Florida law, and Lexington expects that the tenant will reject the lease.

The multi-tenanted properties incurred approximately $4.3 million in operating expenses, net for the nine months ended 9/30/2016.

Heidelberg Americas, Inc. lease expires 3/30/2021; however, new tenant (Goss International Americas, Inc.) lease expires 3/30/2026.

Tenant terminated its lease effective 1/31/2017 for a cash payment of $2.0 million received in July 2015 and an additional $2.0 million is due in 2017.

Consolidated portfolio is 95.3% leased, excluding properties owned subject to mortgages in default.

TD Auto Finance LLC lease terminated effective 2/29/2016 for a payment of $7.7 million, which was paid in April 2016. New lease with Charles Schwab & Co. Inc. commenced 3/1/2016.

Americold Logistics, LLC lease terminated effective 4/15/2016 for $1.0 million to be paid over an 18-month period. New lease with United States Cold Storage, Inc. commenced 4/16/2016.

Tenant exercised purchase option for $13.6 million. Property classified as held for sale.

ConAgra Foods, Inc. provides credit support.

LEXINGTON REALTY TRUST

Select Credit Metrics Summary ⁽¹⁾

	9/30/2016

Adjusted Company FFO Payout Ratio		59.2	%

Unencumbered Assets ⁽²⁾	$	3.28 billion

Unencumbered NOI		74.2	%

(Debt + Preferred) / Gross Assets		42.3	%

Debt/Gross Assets		40.2	%

Secured Debt / Gross Assets		16.2	%

Net Debt / Adjusted EBITDA		5.3	x

(Net Debt + Preferred) / Adjusted EBITDA		5.6	x

Credit Facilities Availability⁽³⁾	$	400.0 million

Development / Gross Assets		3.0	%

Footnotes

(1) See reconciliations of non-GAAP measures in this document. Lexington believes these credit metrics provide investors with additional information to evaluate its liquidity and performance.

(2) Includes loans receivable.

(3) Subject to covenant compliance.

LEXINGTON REALTY TRUST

FINANCIAL COVENANTS⁽¹⁾

Corporate Level Debt

	Must be:	9/30/2016
Bank Loans:

Maximum Leverage	< 60%	42.1%
Fixed Charge Coverage	> 1.5x	2.5x
Recourse Secured Indebtedness Ratio	< 10% cap value	0.0%
Secured Indebtedness Ratio	< 45%	17.9%
Unsecured Debt Service Coverage	> 2.0x	5.0x
Unencumbered Leverage	< 60%	32.9%

Bonds:

Debt to Total Assets	< 60%	40.7%
Secured Debt to Total Assets	< 40%	16.4%
Debt Service Coverage	> 1.5x	4.0x
Unencumbered Assets to Unsecured Debt	> 150%	313.0%

Footnotes

(1)

The following is a summary of the key financial covenants for Lexington's credit facility and term loans and senior notes, as defined and calculated per the terms of the credit facility and term loans and senior notes, as applicable. These calculations are presented to show Lexington's compliance with such covenants only and are not measures of Lexington's liquidity or performance.

LEXINGTON REALTY TRUST

Consolidated Properties: Mortgages and Notes Payable

9/30/2016

Property	Footnotes	Debt Balance ($000)		Interest Rate (%)			Maturity ^(a)	Current Estimated Annual Debt Service ($000)^(c)		Balloon Payment ($000)
Mortgages with Balloons
Temple, TX	(b)	$	7,463		6.090	%	N/A	$	-	$	7,463
Lisle, IL	(b)		9,377		6.500	%	N/A		-		9,377
Memphis, TN			3,502		5.710	%	01/2017		86		3,484
Huntington, WV	(e)		6,500		4.150	%	02/2017		113		6,500
Orlando, FL			9,360		5.722	%	02/2017		278		9,309
Shreveport, LA			19,000		5.690	%	07/2017		910		19,000
McDonough, GA			22,001		6.110	%	11/2017		1,674		21,651
Erwin, NY			7,559		5.910	%	10/2018		728		6,637
Overland Park, KS			33,667		5.891	%	05/2019		2,657		31,812
Kansas City, MO			16,047		5.883	%	05/2019		1,268		15,179
Columbus, IN			17,743		2.210	%	07/2019		4,757		4,993
Meridian, ID			8,994		6.010	%	08/2019		753		7,675
Streetsboro, OH			17,388		5.749	%	09/2019		1,344		16,338
Lenexa, KS			9,159		6.270	%	12/2019		774		7,770
Boca Raton, FL			19,433		6.470	%	02/2020		1,542		18,414
Oakland, ME			8,665		5.930	%	10/2020		750		7,660
Lavonia, GA			7,408		5.460	%	12/2020		741		5,895
Charleston, SC			7,115		5.850	%	02/2021		520		6,632
Whippany, NJ			13,343		6.298	%	11/2021		1,344		10,400
Chester, SC			8,172		5.380	%	08/2025		1,144		362
Richland, WA			110,000		4.000	%	01/2026		4,400		99,492
Lenexa, KS			35,408		3.700	%	11/2027		3,025		10,000
Richmond, VA			57,500		5.191	%	02/2031		3,026		53,176
Lake Jackson, TX			197,150		4.040	%	10/2036		11,543		11,305
Subtotal/Wtg. Avg./Years Remaining ⁽ⁱ⁾		$	651,954		4.741	%	10.5	$	43,377	$	390,524

Full Amortizing Mortgages
Lorain, OH			773		7.750	%	07/2018		569		-
Manteca, CA			546		7.750	%	07/2018		402		-
Watertown, NY			514		7.750	%	07/2018		378		-
Fairlea, WV			361		7.750	%	07/2018		265		-
San Diego, CA			348		7.750	%	07/2018		256		-
Galesburg, IL			307		7.750	%	07/2018		225		-
North Berwick, ME			3,777		3.560	%	04/2019		1,532		-
Wall, NJ			14,816		6.250	%	01/2021		3,774		-
Palo Alto, CA			44,611		3.970	%	12/2023		7,059		-
Long Island City, NY			47,038		3.500	%	03/2028		4,538		-

Subtotal/Wtg. Avg./Years Remaining ⁽ⁱ⁾		$	113,091		4.155	%	8.3	$	18,998	$	-

Subtotal/Wtg. Avg./Years Remaining ⁽ⁱ⁾		$	765,045		4.654	%	10.1	$	62,375	$	390,524

LEXINGTON REALTY TRUST

Consolidated Properties: Mortgages and Notes Payable

9/30/2016

Property	Footnotes	Debt Balance ($000)		Interest Rate (%)			Maturity ^(a)	Current Estimated Annual Debt Service ($000)^(c)		Balloon Payment ($000)
Corporate ^(f)
Term Loan	(g)	$	250,000		2.192	%	08/2020	$	5,556	$	250,000
Term Loan	(h)		255,000		2.523	%	01/2021		6,523		255,000
Senior Notes			250,000		4.250	%	06/2023		10,625		250,000
Senior Notes			250,000		4.400	%	06/2024		11,000		250,000
Trust Preferred Notes	(d)		129,120		6.804	%	04/2037		8,785		129,120
Subtotal/Wtg. Avg./Years Remaining ⁽ⁱ⁾		$	1,134,120		3.732	%	7.3	$	42,489	$	1,134,120
Total/Wtg. Avg./Years Remaining ⁽ⁱ⁾	(j)	$	1,899,165		4.103	%	8.4	$	104,864	$	1,524,644

Footnotes

(a)

Subtotal and total based on weighted-average term to maturity (or put dates) shown in years based on debt balance.

(b)

Loan is in default.

(c)

Remaining payments for debt with less than 12 months to maturity, all others are debt service for next 12 months.

(d)

Rate fixed through 04/2017; thereafter, LIBOR plus 170 bps.

(e)

Loan satisfied subsequent to 9/30/16.

(f)

Unsecured.

(g)

Rate ranges from LIBOR plus 0.90% to 1.75%. LIBOR rate fixed at 1.09% through February 2018 via interest rate swap agreements.

(h)

Rate ranges from LIBOR plus 0.90% to 1.75%. LIBOR rate fixed at 1.42% through January 2019 via interest rate swap agreements.

(i)

Total shown may differ from detailed amounts due to rounding.

(j)

See reconciliations of non-GAAP measures in this document.

LEXINGTON REALTY TRUST

Non- Consolidated Investments: Mortgages & Notes Payable

9/30/2016

Joint Venture	Debt Balance ($000)		Interest Rate (%)			Maturity	Current Estimated Annual Debt Service ($000) ⁽³⁾		Balloon Payment ($000)
Rehab Humble Lessee⁽¹⁾	$	14,150		4.700	%	05/2017	$	609	$	13,982
Gan Palm Beach Lessee ⁽²⁾		14,245		3.700	%	03/2018		842		13,768
BP Lessee ⁽¹⁾		18,791		4.010	%	11/2018		764		18,791
Total/Wtg. Avg. ⁽¹⁾/Years Remaining ⁽²⁾	$	47,186		4.123	%	1.4	$	2,215	$	46,541

Footnotes

(1)

Lexington has a 15% equity interest in the joint venture.

(2)

Lexington has a 25% equity interest in the joint venture.

(3)

Remaining payments for debt with less than 12 months to maturity, all others are debt service for next 12 months.

LEXINGTON REALTY TRUST

Debt Maturity Schedule

9/30/2016

($000)

Consolidated Properties
Year	Mortgage Scheduled Amortization		Mortgage Balloon Payments		Corporate Debt
2016 - remaining	$	5,780	$	16,840	$	-
2017		30,039		59,944		-
2018		30,077		6,637		-
2019		26,681		83,767		-
2020		23,178		31,969		250,000
	$	115,755	$	199,157	$	250,000

Footnotes

(1)

Percentage denotes weighted-average interest rate.

LEXINGTON REALTY TRUST

Mortgage Loans Receivable

9/30/2016

Collateral
	City	State	Loan Balance ($000)⁽¹⁾		Interest Rate			Maturity Date	Current Estimated Annual Debt Service ($000)⁽²⁾		Balloon Payment ($000)
Office	Oklahoma City ⁽³⁾	OK	$	8,501		11.50	%	N/A	$	-	$	8,420
Retail	Various⁽⁴⁾	Various		780		8.00	%	02/2021		219		-
	Various⁽⁴⁾	Various		371		8.00	%	12/2021		94		-
	Various⁽⁴⁾	Various		499		8.00	%	03/2022		112		-
Hospital	Kennewick	WA		85,657		9.00	%	05/2022		7,438		87,245
	Total Mortgage Loans Receivable		$	95,808					$	7,863	$	95,665

Footnotes

(1)

Includes accrued interest receivable, loan losses, and net origination fees.

(2)

Remaining collections for debt less than 12 months to maturity, all others are debt service for next 12 months.

(3)

Short-term loan to joint venture partner, which is in default.

(4)

Satisfied subsequent to 9/30/2016.

LEXINGTON REALTY TRUST

Selected Balance Sheet and Income Statement Account Data

9/30/2016

($000)

Balance Sheet

Other assets	$	39,092

The components of other assets are:

Deposits	$	539
Equipment		641
Prepaids		2,311
Other receivables		705
Deferred lease incentives		12,489
Lake Jackson developer escrows		22,282
Other		125

Accounts payable and other liabilities

The components of accounts payable and other liabilities are:	$	30,796

Accounts payable and accrued expenses	$	14,201
CIP accruals and other		366
Taxes		570
Deferred lease and loan costs		4,630
Deposits		1,121
Escrows		825
Transaction / build-to-suit costs		4,200
Interest rate swap derivative liability		4,883

Income Statement - Nine months ended September 30, 2016

Non-cash interest expense, net	$	(160	)

LEXINGTON REALTY TRUST

NON-GAAP MEASURES

DEFINITIONS

Lexington has used non-GAAP financial measures as defined by the Securities and Exchange Commission Regulation G in the Quarterly Earnings Release, in this Supplemental Operating and Financial Data Report and in other public disclosures.

Lexington believes that the measures defined below are helpful to investors in measuring our performance or that of an individual investment. Since these measures exclude certain items which are included in their respective most comparable Generally Accepted Accounting Principles (“GAAP”) measures, reliance on the measures has limitations; management compensates for these limitations by using the measures simply as supplemental measures that are weighed in balance with other GAAP measures. These measures are not necessarily indications of our cash flow available to fund cash needs. Additionally, they should not be used as an alternative to the respective most comparable GAAP measures when evaluating Lexington's financial performance or cash flow from operating, investing, or financing activities or liquidity.

Definitions:

Adjusted EBITDA: Adjusted EBITDA represents EBITDA (earnings before interest, taxes, depreciation and amortization) modified to include other adjustments to GAAP net income for gains on sales of properties, impairment charges, debt satisfaction gains (charges), net, non-cash charges, net, straight-line adjustments and adjustments for pro-rata share of non-wholly owned entities. Lexington’s calculation of Adjusted EBITDA may not be comparable to similarly titled measures used by other companies. Lexington believes that net income is the most directly comparable GAAP measure to Adjusted EBITDA.

Cash Rent: Cash Rent is calculated by making adjustments to GAAP rent to remove the impact of GAAP required adjustments to rental income such as adjustments for straight-line rents related to free rent periods and contractual rent increases. Cash Rent excludes lease termination income. Lexington believes Cash Rent provides a meaningful indication of an investments ability to fund cash needs.

Funds from Operations (“FFO”) and Adjusted Company FFO: Lexington believes that Funds from Operations, or FFO, which is a non-GAAP measure, is a widely recognized and appropriate measure of the performance of an equity real estate investment trust (“REIT”). Lexington believes FFO is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO when reporting their results. FFO is intended to exclude GAAP historical cost depreciation and amortization of real estate and related assets, which assumes that the value of real estate diminishes ratably over time. Historically, however, real estate values have risen or fallen with market conditions. As a result, FFO provides a performance measure that, when compared year over year, reflects the impact to operations from trends in occupancy rates, rental rates, operating costs, development activities, interest costs and other matters without the inclusion of depreciation and amortization, providing perspective that may not necessarily be apparent from net income.

LEXINGTON REALTY TRUST

NON-GAAP MEASURES

DEFINITIONS (CONTINUED)

Net Operating Income (NOI): NOI is a measure of operating performance used to evaluate the individual performance of an investment. This measure is not presented or intended to be viewed as a liquidity or performance measure that presents a numerical measure of Lexington's historical or future financial performance, financial position or cash flows. Lexington defines NOI as operating revenues (rental income (less GAAP rent adjustments and lease termination income), tenant reimbursements and other property income) less property operating expenses. Other REITs may use different methodologies for calculating NOI, and accordingly, Lexington's NOI may not be comparable to other companies. Because NOI excludes general and administrative expenses, interest expense, depreciation and amortization, acquisition-related expenses, other nonproperty income and losses, and gains and losses from property dispositions, it provides a performance measure that, when compared year over year, reflects the revenues and expenses directly associated with owning and operating commercial real estate and the impact to operations from trends in occupancy rates, rental rates, and operating costs, providing a perspective on operations not immediately apparent from net income. Lexington believes that net income is the most directly comparable GAAP measure to NOI.

Same-Store NOI: Same-Store NOI represents the NOI for consolidated properties that were owned and included in our portfolio for two comparable reporting periods excluding properties encumbered by mortgage loans in default and the revenue associated with the expansion of properties, as applicable. As Same-Store NOI excludes the change in NOI from acquired and disposed of properties and certain other properties, it highlights operating trends such as occupancy levels, rental rates and operating costs on properties. Other REITs may use different methodologies for calculating Same-Store NOI, and accordingly, Lexington's Same-Store NOI may not be comparable to other REITs. Management believes that Same-Store NOI is a useful supplemental measure of Lexington's operating performance. However, Same-Store NOI should not be viewed as an alternative measure of Lexington 's financial performance since it does not reflect the operations of Lexington's entire portfolio, nor does it reflect the impact of general and administrative expenses, acquisition-related expenses, interest expense, depreciation and amortization costs, other nonproperty income and losses, the level of capital expenditures and leasing costs necessary to maintain the operating performance of Lexington's properties, or trends in development and construction activities which are significant economic costs and activities that could materially impact Lexington's results from operations. Lexington believes that net income is the most directly comparable GAAP measure to Same-Store NOI.

LEXINGTON REALTY TRUST

RECONCILIATION OF NON-GAAP MEASURES

($000)

	Nine months ended September 30, 2016

Cash Rent Reconciliation:

Rental revenue as reported	$	304,158

Rental revenue from sold properties		(42,831	)

GAAP rent per supplement		261,327

GAAP rent adjustments: ⁽¹⁾
Straight-line adjustments		(12,075	)
Lease incentives		1,194
Amortization of above/below market leases		1,394
Lease termination income		(7,727	)

Cash rent per supplement	$	244,113

Consolidated debt reconciliation September 30, 2016:

	GAAP Balance		Deferred Loan Costs, net		Discounts		Gross Balance

Mortgages and notes payable⁽²⁾	$	757,718	$	7,327	$	-	$	765,045
Term loans payable ⁽³⁾		500,839		4,161		-		505,000
Senior notes payable⁽³⁾		494,153		3,999		1,848		500,000
Trust preferred securities ⁽³⁾		127,071		2,049		-		129,120
Consolidated debt	$	1,879,781	$	17,536	$	1,848	$	1,899,165

Footnotes

(1)

Individual items are adjusted for sold properties, which were previously reflected in the reconciliation.

(2)

Secured.

(3)

Unsecured.

LEXINGTON REALTY TRUST

RECONCILIATION OF NON-GAAP MEASURES (CONTINUED)

($000)

Same-Store NOI Reconciliation:

	Nine months
	September 30, 2016			September 30, 2015

Net Income	$	72,875		$	79,378

Interest and amortization expense		68,573			68,326
Provision for income taxes		1,099			468
Depreciation and amortization		124,687			121,795
General and administrative		23,032			22,527
Transaction costs		329			1,119
Non-operating income		(9,500	)		(8,213	)
Gains on sales of properties		(58,413	)		(24,884	)
Impairment charges		75,904			34,070
Debt satisfaction (gains) charges, net		818			(13,753	)
Equity in earnings of non-consolidated entities		(6,394	)		(938	)
Lease termination income		(8,744	)		(2,665	)
Straight-line adjustments		(35,697	)		(35,242	)
Lease incentives		1,256			1,157
Amortization of above/below market leases		1,527			(157	)

Net Operating Income - ("NOI")		251,352			242,988

Less NOI:
Disposed of properties		(17,874	)		(29,535	)
Acquired properties		(28,961	)		(7,474	)
Expansion revenue		(1,192	)		(924	)
Properties in default		(2,002	)		(2,458	)

Same-Store NOI	$	201,323		$	202,597

NOI for NAV:

	Nine months
	September 30, 2016

NOI per above	$	251,352
Less NOI:
Disposed of properties		(17,874	)
Assets held for sale		(1,339	)
Assets acquired in 2016		(2,561	)
Assets less than 70% leased / Other		(2,483	)
NOI for NAV	$	227,095

LEXINGTON REALTY TRUST

RECONCILIATION OF NON-GAAP MEASURES (CONTINUED)

($000)

Reconciliation to Adjusted EBITDA:

	Three months ended
	9/30/2016			6/30/2016			3/31/2016			12/31/2015			Trailing 12 Months

Net income (loss) attributable to Lexington Realty Trust shareholders	$	(25,030	)	$	48,476		$	49,769		$	34,850		$	108,065
Interest and amortization expense		23,001			22,679			22,893			21,466			90,039
Provision for income taxes		462			224			413			104			1,203
Depreciation and amortization		40,288			41,272			43,127			41,403			166,090
Straight-line adjustments		(11,317	)		(13,241	)		(11,139	)		(12,460	)		(48,157	)
Lease incentives		414			419			423			387			1,643
Amortization of above/below market leases		572			499			456			418			1,945
Gains on sales of properties		(16,072	)		(25,326	)		(17,015	)		-			(58,413	)
Impairment charges		72,890			3,014			-			2,762			78,666
Debt satisfaction (gains) charges, net		(2,538	)		3,194			162			(11,397	)		(10,579	)
Non-cash charges, net		2,296			2,403			2,207			2,213			9,119

Pro-rata share adjustments:
Non-consolidated entities adjustment		360			254			(5,106	)		52			(4,440	)
Noncontrolling interests adjustment		(2,467	)		661			761			470			(575	)

Adjusted EBITDA	$	82,859		$	84,528		$	86,951		$	80,268		$	334,606

LEXINGTON REALTY TRUST

RECONCILIATION OF NON-GAAP MEASURES (CONTINUED)

($000)

Reconciliation of Select Credit Metrics:

Adjusted Company FFO Payout:	Nine months ended September 30, 2016
Common share dividends per share	$	0.515
Adjusted Company FFO per diluted share	$	0.87
Adjusted Company FFO payout ratio		59.2	%

Unencumbered Assets:
Real estate, at cost	$	4,195,719
held for sale real estate, at cost		38,950
less encumbered real estate, at cost		(1,052,165	)
Loans receivable, net		95,808
Unencumbered assets	$	3,278,312

Unencumbered NOI:
NOI	$	251,352
Disposed of properties NOI		(17,874	)
Termination income		7,727
Adjusted NOI		241,205
less encumbered adjusted NOI		(62,311	)
Unencumbered adjusted NOI	$	178,894
Unencumbered NOI %		74.2	%

Net Debt / Adjusted EBITDA:
Adjusted EBITDA	$	334,606

Consolidated debt	$	1,879,781
less cash and cash equivalents		(117,791	)
Net debt	$	1,761,990

Net debt / Adjusted EBITDA		5.3	x

(Net Debt + Preferred) / Adjusted EBITDA:
Adjusted EBITDA	$	334,606

Net debt	$	1,761,990
Preferred shares liquidation preference		96,770
Net debt + preferred	$	1,858,760

(Net Debt + Preferred) / Adjusted EBITDA		5.6	x

(Debt + Preferred) / Gross Assets:	Nine months ended September 30, 2016
Consolidated debt	$	1,879,781
Preferred shares liquidation preference		96,770
Debt and preferred	$	1,976,551

Total assets	$	3,449,951
Plus depreciation and amortization:
Real estate		1,201,043
Deferred lease costs		24,190

Gross assets	$	4,675,184

(Debt + Preferred) / Gross Assets		42.3	%

Debt / Gross Assets:
Consolidated debt	$	1,879,781

Gross assets	$	4,675,184

Debt / Gross assets		40.2	%

Secured Debt / Gross Assets:
Mortgages and notes payable	$	757,718

Gross assets	$	4,675,184

Secured Debt / Gross Assets		16.2	%


Development / Gross Assets:
Investment in real estate under construction	$	137,576
Construction in progress		789
Development	$	138,365

Gross assets	$	4,675,184

Development / Gross Assets		3.0	%

Investor Information

Transfer Agent

Computershare	Overnight Correspondence:
PO Box 30170	211 Quality Circle, Suite 210
College Station, TX 77842-3170	College Station, TX, 77845
(800) 850-3948
www-us.computershare.com/investor

Investor Relations

Heather Gentry

Senior Vice President, Investor Relations

Telephone (direct)	(212) 692-7219
Facsimile (main)	(212) 594-6600
E-mail	hgentry@lxp.com

Research Coverage

Bank of America/Merrill Lynch		KeyBanc Capital Markets Inc.
James Feldman	(646) 855-5808	Craig Mailman	(917) 368-2316

Barclays Capital		Ladenburg Thalmann & Co., Inc.
Ross L. Smotrich	(212) 526-2306	Daniel P. Donlan	(212) 409-2056

Evercore Partners		Stifel Nicolaus
Sheila K. McGrath	(212) 497-0882	John W. Guinee	(443) 224-1307

J.P. Morgan Chase		Wells Fargo Securities, LLC
Anthony Paolone	(212) 622-6682	Todd J. Stender	(562) 637-1371

Jeffries & Company, Inc.
Jon Peterson	(212) 284-1705

LEXINGTON REALTY TRUST

One Penn Plaza, Suite 4015 | New York, NY 10119-4015 | (212) 692-7200 | www.lxp.com