EX-99.1 2 tv514859_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

LEXINGTON REALTY TRUST

QUARTERLY SUPPLEMENTAL INFORMATION

December 31, 2018

Table of Contents

Section |  | Page
Fourth Quarter 2018 Earnings Press Release |  | 3
Portfolio Data |  |
Investment / Capital Recycling Summary |  | 15
Financing Summary |  | 16
Leasing Summary |  | 17
Other Revenue Data |  | 19
Portfolio Detail by Asset Class |  | 21
Portfolio Composition |  | 22
Components of Net Asset Value |  | 23
Portfolio Concentration |  | 24
Tenant Industry Diversification |  | 27
Top 15 Tenants or Guarantors |  | 29
Lease Rollover Schedules – GAAP Basis |  | 30
Property Leases and Vacancies |  | 32
Select Credit Metrics Summary |  | 40
Financial Covenants |  | 41
Mortgages and Notes Payable |  | 42
Debt Maturity Schedule |  | 43
Selected Balance Sheet Account Data |  | 44
Non-GAAP Measures – Definitions |  | 45
Reconciliation of Non-GAAP Measures |  | 47
Investor Information |  | 51

This Quarterly Earnings Press Release and Quarterly Supplemental Information 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 and its subsidiaries 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, but not limited to, risks related to: (1) the authorization of Lexington’s Board of Trustees of future dividend declarations, including dividend declarations to achieve a $0.41 per share annualized dividend, (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, 2019, (3) the successful consummation of any lease, acquisition, build-to-suit, disposition, financing or other transaction on the terms described herein or at all, (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 revise those forward-looking statements to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington’s expectations will be realized.

| L EXINGTON R EALTY T RUST TRADED: NYSE: LXP O NE PENN PLAZA, SUITE 4015 N EW YORK, NY 10119-4015

FOR IMMEDIATE RELEASE

LEXINGTON REALTY TRUST REPORTS FOURTH QUARTER 2018 RESULTS

New York, NY - February 27, 2019 - Lexington Realty Trust (“Lexington”) (NYSE:LXP), a real estate investment trust focused on single-tenant industrial real estate investments, today announced results for the fourth quarter and year ended December 31, 2018.

Fourth Quarter 2018 Highlights

| · | Generated Net Income attributable to common shareholders of $23.8 million, or $0.10 per diluted common share.

| · | Generated Adjusted Company Funds From Operations available to all equityholders and unitholders - diluted (“Adjusted Company FFO”) of $53.7 million, or $0.22 per diluted common share.

| · | Acquired two industrial properties for an aggregate cost of $107.7 million.

| · | Disposed of nine non-industrial properties for an aggregate gross sale price of $93.3 million.

| · | Repurchased and retired 4.0 million common shares at an average price of $8.07 per share and increased repurchase authorization by 10.0 million common shares.

| · | Repaid remaining 2020 term loan balance of $149.0 million.

| · | Completed 452,000 square feet of new leases and lease extensions.

Full Year 2018 Highlights

| · | Generated Net Income attributable to common shareholders of $220.8 million, or $0.93 per diluted common share.

| · | Generated Adjusted Company FFO of $236.3 million, or $0.96 per diluted common share.

| · | Increased total gross book value and total rental revenue attributable to industrial assets from 49.3% and 44.3%, respectively, to 71.1% and 65.4%, respectively.

| · | Acquired eight industrial properties for an aggregate cost of $315.6 million.

| · | Disposed of 21 office assets to a newly-formed joint venture for an aggregate gross disposition price of $725.8 million and acquired a 20% interest in the joint venture for an aggregate cost of $53.7 million.

| · | Disposed of 25 additional consolidated properties for an aggregate gross sale price of $335.3 million.

| · | Repurchased and retired 5.9 million common shares at an average price of $8.05 per share.

| · | Repaid $160.0 million, net under its unsecured revolving credit facility and fully repaid its $300 million 2020 term loan.

| · | Retired an aggregate of $118.0 million in property non-recourse mortgage debt, including debt encumbering assets sold to the joint venture above.

| · | Completed 1.9 million square feet of new leases and lease extensions.

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.

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T. Wilson Eglin, Chief Executive Officer and President of Lexington Realty Trust, commented “Through our targeted disposition and investment efforts in 2018, we increased our industrial exposure to 71% of our total gross book value at year end compared to 49% at year-end 2017. We were very active in our share buyback plan during the fourth quarter, bringing our total 2018 share repurchases to almost six million shares at an average price of $8.05 per share.

We remain focused on transitioning to a single-tenant net-leased industrial REIT, and our disposition plan contemplates the sale of primarily office and other non-core assets with this objective in mind. Proceeds from sales, available cash, and low leverage will provide further capital to fund industrial purchases and build-to-suit opportunities.

In connection with the repositioning of our portfolio and growth plans going forward, last year we announced that in 2019 we would revise our distribution policy in order to retain and reinvest as much of our cash flow as possible. We believe this is a prudent course which will enhance our earnings growth and net asset value per share over time. Accordingly, we announced today a new annualized dividend rate of $0.41 per common share.”

FINANCIAL RESULTS

Revenues

For the quarter ended December 31, 2018, total gross revenues were $87.3 million, compared with total gross revenues of $102.2 million for the quarter ended December 31, 2017. The decrease was primarily attributable to a decrease in revenue due to property sales, partially offset by 2018 and 2017 property acquisitions.

Net Income Attributable to Common Shareholders

For the quarter ended December 31, 2018, net income attributable to common shareholders was $23.8 million, or $0.10 per diluted share, compared with net income attributable to common shareholders for the quarter ended December 31, 2017 of $29.2 million, or $0.12 per diluted share.

Adjusted Company FFO

For the quarter ended December 31, 2018, Lexington generated Adjusted Company FFO of $53.7 million, or $0.22 per diluted share, compared to Adjusted Company FFO for the quarter ended December 31, 2017 of $63.1 million, or $0.26 per diluted share.

Dividends/Distributions

As previously announced, during the fourth quarter of 2018, Lexington declared its quarterly common share/unit dividend/distribution for the quarter ended December 31, 2018 of $0.1775 per common share/unit, which was paid on January 15, 2019 to common shareholders/unitholders of record as of December 31, 2018. Lexington previously declared a dividend of $0.8125 per share on its Series C Cumulative Convertible Preferred Stock (“Series C Preferred”) for the quarter ended December 31, 2018, which was paid February 15, 2019 to Series C Preferred shareholders of record as of January 31, 2019.

Today, Lexington declared its quarterly common share/unit dividend/distribution for the quarter ended March 31, 2019 in the amount of $0.1025 per common share/unit, which will be paid on April 15, 2019 to common shareholders/unitholders of record as of March 29, 2019. Lexington previously declared a dividend of $0.8125 per share on its Series C Preferred for the quarter ended March 31, 2019, which will be paid on May 15, 2019, to Series C Preferred shareholders of record as of April 30, 2019.

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TRANSACTIONS

ACQUISITION TRANSACTIONS

Primary Tenant(1) |  | Location |  | Sq. Ft. (Approx.) |  |  | Property Type |  | Initial Basis ($000) |  |  | Approximate Lease Term (Yrs)
Blue Buffalo |  | Goodyear, AZ |  |  | 540,349 |  |  | Industrial |  | $ | 41,372 |  |  | 7
Philip Morris |  | Chester, VA |  |  | 1,034,470 |  |  | Industrial |  |  | 66,311 |  |  | 12
|  |  |  |  | 1,574,819 |  |  |  |  | $ | 107,683 |  |  |

| 1. | In addition, Lexington acquired a 57-acre parcel of land from a non-consolidated joint venture and leased the parcel to a tenant to develop an industrial property.

Including fourth quarter acquisition activity, consolidated 2018 acquisition activity totaled $315.6 million at average GAAP and cash capitalization rates of 6.5% and 5.3%, respectively.

PROPERTY DISPOSITIONS

Primary Tenant |  | Location |  | Property Type |  | Gross Disposition Price ($000) |  |  | Annualized Net Income (Loss)(1) ($000) |  |  | Annualized NOI(1) ($000) |  |  | Month of Disposition |  | % Leased |
Oregon Research Institute |  | Eugene, OR |  | Office |  | $ | 16,000 |  |  | $ | 2,098 |  |  | $ | 1,832 |  |  | October |  |  | 100 | %
Alstom Power |  | Knoxville, TN |  | Office |  |  | 16,000 |  |  |  | 1,262 |  |  |  | 1,249 |  |  | November |  |  | 100 | %
Vacant |  | Manteca, CA |  | Other |  |  | 2,700 |  |  |  | 967 |  |  |  | 381 |  |  | November |  |  | 0 | %
Delhaize |  | Jefferson, NC |  | Other |  |  | 1,550 |  |  |  | 156 |  |  |  | 160 |  |  | December |  |  | 100 | %
Vacant |  | Wallingford, CT |  | Office |  |  | 1,050 |  |  |  | (222 | ) |  |  | (179 | ) |  | December |  |  | 0 | %
Vacant |  | Florence, SC |  | Office |  |  | 1,838 |  |  |  | (320 | ) |  |  | 325 |  |  | December |  |  | 0 | %
Kingsport Power |  | Kingsport, TN |  | Office |  |  | 3,400 |  |  |  | 287 |  |  |  | 310 |  |  | December |  |  | 100 | %
Federal Express |  | Memphis, TN |  | Office |  |  | 50,800 |  |  |  | 6,844 |  |  |  | 7,101 |  |  | December |  |  | 100 | %
|  |  |  |  |  | $ | 93,338 |  |  | $ | 11,072 |  |  | $ | 11,179 |  |  |  |  |  |  |

| 1. | Quarterly period prior to sale, excluding impairment charges and accelerated below-market lease intangible accretion, annualized.

In addition, a vacant retail property in San Diego, California was transferred to its ground owner and Lexington received $4.3 million from the sale of a six-property non-consolidated office portfolio.

Including fourth quarter disposition activity, consolidated 2018 property disposition volume totaled $1.1 billion at average GAAP and cash capitalization rates of 8.9% and 8.4%, respectively.

As a result of 2018 transactions, Lexington's total gross book value attributable to industrial assets accounts for 71.1% of total consolidated real estate gross book value at December 31, 2018 compared to 49.3% at December 31, 2017. Rental revenue attributable to industrial assets increased to 65.4% of total consolidated rental revenue as of December 31, 2018 from 44.3% as of December 31, 2017.

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LEASING

During the fourth quarter of 2018, Lexington executed the following new and extended leases:

|  |  | LEASE EXTENSIONS |  |  |  |  |
|  |  | Location |  | Primary Tenant(1) |  | Prior Term |  | Lease Expiration Date |  | Sq. Ft. |
|  |  | Industrial |  |  |  |  |  |  |  |  |  |  |  |
1 |  |  | Carrollton |  | TX |  | Teasdale |  | 03/2025 |  | 12/2033 |  |  | 298,653 |
1 |  |  | Total industrial lease extensions |  |  |  |  |  |  |  | 298,653 |
|  |  | Office |  |  |  |  |  |  |  |  |  |  |  |
1 |  |  | Knoxville |  | TN |  | CaremarkPCS |  | 05/2020 |  | 05/2027 |  |  | 59,748 |
2 |  |  | Indianapolis |  | IN |  | N/A |  | 02/2019 |  | 05/2019 |  |  | 3,764 |
2 |  |  | Total office lease extensions |  |  |  |  |  |  |  | 63,512 |
3 |  |  | Total lease extensions |  |  |  |  |  |  |  | 362,165 |
|  |  | NEW LEASES |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Location |  |  |  |  |  |  |  | Lease Expiration Date |  |  | Sq. Ft. |
|  |  | Office/Multi-Tenant |  |  |  |  |  |  |  |  |
1 |  |  | Phoenix |  | AZ |  | Argosy Education |  |  |  | 05/2024 |  |  | 27,470 |
2 |  |  | Farmers Branch |  | TX |  | N/A |  |  |  | 04/2024 |  |  | 2,937 |
3 |  |  | Orlando |  | FL |  | CardWorks Servicing |  |  |  | 09/2029 |  |  | 59,927 |
3 |  |  | Total new office leases |  |  |  |  |  |  |  | 90,334 |
6 |  |  | TOTAL NEW AND EXTENDED LEASES |  |  |  |  |  | 452,499 |

| 1. | Leases greater than 10,000 square feet.

As of December 31, 2018, Lexington's portfolio was 95.1% leased.

BALANCE SHEET/CAPITAL MARKETS

During the fourth quarter, Lexington fully repaid the remaining $149.0 million outstanding on its 2020 term loan and satisfied $7.9 million of non-recourse debt.

Also in the fourth quarter, Lexington's Board of Trustees increased the amount of common shares available for repurchase under its repurchase authorization initially announced on July 2, 2015 by 10.0 million common shares. Lexington repurchased and retired 3,979,597 common shares at an average price of $8.07 per share, bringing the total 2018 repurchases to 5,851,252 common shares at an average price of $8.05 per share. Subsequent to December 31, 2018, Lexington repurchased and retired 441,581 common shares at an average price of $8.13 per share. As of February 27, 2019, there were 10,306,255 common shares available for repurchase.

Subsequent to December 31, 2018, Lexington replaced its revolving credit facility and the 2021 term loan with a new revolving credit facility and the continuation of the 2021 term loan, which extended the maturity of the revolving credit facility to February 2023 and reduced the applicable margin rates on the revolving credit facility and 2021 term loan.

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2019 EARNINGS GUIDANCE

Lexington estimates that its net income attributable to common shareholders per diluted common share for the year ended December 31, 2019 will be within an expected range of $1.36 to $1.40. Lexington estimates that its Adjusted Company FFO for the year ended December 31, 2019 will be within an expected range of $0.75 to $0.79 per diluted common share. This guidance is forward looking, excludes the impact of certain items and is based on current expectations.

FOURTH QUARTER 2018 CONFERENCE CALL

Lexington will host a conference call today February 27, 2019, at 8:30 a.m. Eastern Time, to discuss its results for the quarter ended December 31, 2018. 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 May 27, 2019, 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 10128738. A link to a live webcast of the conference call is available at www.lxp.com within the Investors section.

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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 investments in single-tenant net-leased commercial properties across the United States. Lexington seeks to expand its industrial portfolio through build-to-suit transactions, sale-leaseback transactions and other transactions, including acquisitions. For more information, including Lexington's Quarterly Supplemental 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, including dividend declarations to achieve a $0.41 per share annualized dividend, (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, 2019, (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 REIT, (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 has filed 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, and all property operating activities are conducted, through special purpose entities, which are separate and distinct legal entities that maintain separate books and records, but in some instances 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 are not available to creditors to satisfy the debt or 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 (or its general partner's, member's or managing member's) creditors.

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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 Press 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 rent 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 (calculated in accordance with GAAP), excluding depreciation and amortization related to real estate, gains and losses from the sales of certain real estate assets, gains and losses from change in control and impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in value of depreciable real estate held by the entity. The reconciling items include amounts to adjust earnings from consolidated partially-owned entities and equity in earnings of unconsolidated affiliates to FFO.” 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 estimated and 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.

# # #

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LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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

|  | Three months ended December 31, |  |  | Twelve months ended December 31, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Gross revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rental |  | $ | 80,745 |  |  | $ | 93,909 |  |  | $ | 364,731 |  |  | $ | 359,832 |
Tenant reimbursements |  |  | 6,506 |  |  |  | 8,260 |  |  |  | 30,608 |  |  |  | 31,809 |
Total gross revenues |  |  | 87,251 |  |  |  | 102,169 |  |  |  | 395,339 |  |  |  | 391,641 |
Expense applicable to revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | (38,498 | ) |  |  | (45,262 | ) |  |  | (168,191 | ) |  |  | (173,968 | )
Property operating |  |  | (9,614 | ) |  |  | (12,410 | ) |  |  | (42,675 | ) |  |  | (49,194 | )
General and administrative |  |  | (7,763 | ) |  |  | (8,597 | ) |  |  | (31,662 | ) |  |  | (34,158 | )
Litigation settlement |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2,050 | )
Non-operating income |  |  | 1,825 |  |  |  | 5,381 |  |  |  | 3,491 |  |  |  | 10,378 |
Interest and amortization expense |  |  | (16,656 | ) |  |  | (20,055 | ) |  |  | (79,880 | ) |  |  | (77,883 | )
Debt satisfaction gains (charges), net |  |  | (368 | ) |  |  | 3,818 |  |  |  | (2,596 | ) |  |  | 6,196 |
Impairment charges and loan losses |  |  | (4,953 | ) |  |  | (1,419 | ) |  |  | (95,813 | ) |  |  | (44,996 | )
Gains on sales of properties |  |  | 13,336 |  |  |  | 8,350 |  |  |  | 252,913 |  |  |  | 63,428 |
Income before provision for income taxes and equity in earnings (losses) of non-consolidated entities |  |  | 24,560 |  |  |  | 31,975 |  |  |  | 230,926 |  |  |  | 89,394 |
Provision for income taxes |  |  | (402 | ) |  |  | (743 | ) |  |  | (1,728 | ) |  |  | (1,917 | )
Equity in earnings (losses) of non-consolidated entities |  |  | 1,516 |  |  |  | 216 |  |  |  | 1,708 |  |  |  | (848 | )
Net income |  |  | 25,674 |  |  |  | 31,448 |  |  |  | 230,906 |  |  |  | 86,629 |
Less net income attributable to noncontrolling interests |  |  | (266 | ) |  |  | (598 | ) |  |  | (3,491 | ) |  |  | (1,046 | )
Net income attributable to Lexington Realty Trust shareholders |  |  | 25,408 |  |  |  | 30,850 |  |  |  | 227,415 |  |  |  | 85,583 |
Dividends attributable to preferred shares – Series C |  |  | (1,572 | ) |  |  | (1,572 | ) |  |  | (6,290 | ) |  |  | (6,290 | )
Allocation to participating securities |  |  | (40 | ) |  |  | (43 | ) |  |  | (287 | ) |  |  | (226 | )
Net income attributable to common shareholders |  | $ | 23,796 |  |  | $ | 29,235 |  |  | $ | 220,838 |  |  | $ | 79,067 |
Net income attributable to common shareholders – per common share basic |  | $ | 0.10 |  |  | $ | 0.12 |  |  | $ | 0.93 |  |  | $ | 0.33 |
Weighted-average common shares outstanding – basic |  |  | 233,963,608 |  |  |  | 238,131,814 |  |  |  | 236,666,375 |  |  |  | 237,758,408 |
Net income attributable to common shareholders – per common share diluted |  | $ | 0.10 |  |  | $ | 0.12 |  |  | $ | 0.93 |  |  | $ | 0.33 |
Weighted-average common shares outstanding – diluted |  |  | 238,292,912 |  |  |  | 241,821,194 |  |  |  | 240,810,990 |  |  |  | 241,537,837 |

10

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

As of December 31,

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

|  | 2018 |  |  | 2017 |
Assets: |  |  |  |  |  |  |  |
Real estate, at cost |  | $ | 3,090,134 |  |  | $ | 3,936,459 |
Real estate - intangible assets |  |  | 419,612 |  |  |  | 599,091 |
|  |  | 3,509,746 |  |  |  | 4,535,550 |
Less: accumulated depreciation and amortization |  |  | 954,087 |  |  |  | 1,225,650 |
Real estate, net |  |  | 2,555,659 |  |  |  | 3,309,900 |
Assets held for sale |  |  | 63,868 |  |  |  | 2,827 |
Cash and cash equivalents |  |  | 168,750 |  |  |  | 107,762 |
Restricted cash |  |  | 8,497 |  |  |  | 4,394 |
Investment in and advances to non-consolidated entities |  |  | 66,183 |  |  |  | 17,476 |
Deferred expenses, net |  |  | 15,937 |  |  |  | 31,693 |
Rent receivable – current |  |  | 3,475 |  |  |  | 5,450 |
Rent receivable – deferred |  |  | 58,692 |  |  |  | 52,769 |
Other assets |  |  | 12,779 |  |  |  | 20,749 |
Total assets |  | $ | 2,953,840 |  |  | $ | 3,553,020 |
Liabilities and Equity: |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |
Mortgages and notes payable, net |  | $ | 570,420 |  |  | $ | 689,810 |
Revolving credit facility borrowings |  |  | — |  |  |  | 160,000 |
Term loans payable, net |  |  | 298,733 |  |  |  | 596,663 |
Senior notes payable, net |  |  | 496,034 |  |  |  | 495,198 |
Trust preferred securities, net |  |  | 127,296 |  |  |  | 127,196 |
Dividends payable |  |  | 48,774 |  |  |  | 49,504 |
Liabilities held for sale |  |  | 386 |  |  |  | — |
Accounts payable and other liabilities |  |  | 30,790 |  |  |  | 38,644 |
Accrued interest payable |  |  | 4,523 |  |  |  | 5,378 |
Deferred revenue - including below market leases, net |  |  | 20,531 |  |  |  | 33,182 |
Prepaid rent |  |  | 9,675 |  |  |  | 16,610 |
Total liabilities |  |  | 1,607,162 |  |  |  | 2,212,185 |
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, 235,008,554 and 240,689,081 shares issued and outstanding in 2018 and 2017, respectively |  |  | 24 |  |  |  | 24 |
Additional paid-in-capital |  |  | 2,772,855 |  |  |  | 2,818,520 |
Accumulated distributions in excess of net income |  |  | (1,537,100 | ) |  |  | (1,589,724 | )
Accumulated other comprehensive income |  |  | 76 |  |  |  | 1,065 |
Total shareholders’ equity |  |  | 1,329,871 |  |  |  | 1,323,901 |
Noncontrolling interests |  |  | 16,807 |  |  |  | 16,934 |
Total equity |  |  | 1,346,678 |  |  |  | 1,340,835 |
Total liabilities and equity |  | $ | 2,953,840 |  |  | $ | 3,553,020 |

11

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

EARNINGS PER SHARE

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

|  | Three Months Ended December 31, |  |  | Twelve Months Ended December 31, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
EARNINGS PER SHARE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to common shareholders |  | $ | 23,796 |  |  | $ | 29,235 |  |  | $ | 220,838 |  |  | $ | 79,067 |
Weighted-average common shares outstanding - basic |  |  | 233,963,608 |  |  |  | 238,131,814 |  |  |  | 236,666,375 |  |  |  | 237,758,408 |
Net income attributable to common shareholders - per common share basic |  | $ | 0.10 |  |  | $ | 0.12 |  |  | $ | 0.93 |  |  | $ | 0.33 |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to common shareholders - basic |  | $ | 23,796 |  |  | $ | 29,235 |  |  | $ | 220,838 |  |  | $ | 79,067 |
Impact of assumed conversions |  |  | 21 |  |  |  | 338 |  |  |  | 2,528 |  |  |  | 147 |
Income from continuing operations attributable to common shareholders |  | $ | 23,817 |  |  | $ | 29,573 |  |  | $ | 223,366 |  |  | $ | 79,214 |
Weighted-average common shares outstanding - basic |  |  | 233,963,608 |  |  |  | 238,131,814 |  |  |  | 236,666,375 |  |  |  | 237,758,408 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unvested share-based payment awards and options |  |  | 723,120 |  |  |  | 57,731 |  |  |  | 528,495 |  |  |  | 86,285 |
Operating Partnership Units |  |  | 3,606,184 |  |  |  | 3,631,649 |  |  |  | 3,616,120 |  |  |  | 3,693,144 |
Weighted-average common shares outstanding - diluted |  |  | 238,292,912 |  |  |  | 241,821,194 |  |  |  | 240,810,990 |  |  |  | 241,537,837 |
Net income attributable to common shareholders - per common share diluted |  | $ | 0.10 |  |  | $ | 0.12 |  |  | $ | 0.93 |  |  | $ | 0.33 |

12

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

ADJUSTED COMPANY FUNDS FROM OPERATIONS & FUNDS AVAILABLE FOR DISTRIBUTION

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

|  | Three Months Ended December 31, |  |  | Twelve Months Ended December 31, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
FUNDS FROM OPERATIONS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to common shareholders |  | $ | 23,796 |  |  | $ | 29,235 |  |  | $ | 220,838 |  |  | $ | 79,067 |
Adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | 37,819 |  |  |  | 44,050 |  |  |  | 164,261 |  |  |  | 168,683 |
Impairment charges - real estate, including non-consolidated entities |  |  | 4,953 |  |  |  | 1,419 |  |  |  | 95,813 |  |  |  | 43,214 |
Noncontrolling interests - OP units |  |  | 22 |  |  |  | 339 |  |  |  | 2,528 |  |  |  | 147 |
Amortization of leasing commissions |  |  | 679 |  |  |  | 1,212 |  |  |  | 3,930 |  |  |  | 5,285 |
Joint venture and noncontrolling interest adjustment |  |  | 2,567 |  |  |  | 257 |  |  |  | 4,063 |  |  |  | 1,121 |
Gains on sales of properties, including non-consolidated entities and net of tax |  |  | (14,821 | ) |  |  | (8,350 | ) |  |  | (254,269 | ) |  |  | (64,880 | )
FFO available to common shareholders and unitholders - basic |  |  | 55,015 |  |  |  | 68,162 |  |  |  | 237,164 |  |  |  | 232,637 |
Preferred dividends |  |  | 1,572 |  |  |  | 1,572 |  |  |  | 6,290 |  |  |  | 6,290 |
Amount allocated to participating securities |  |  | 40 |  |  |  | 43 |  |  |  | 287 |  |  |  | 226 |
FFO available to all equityholders and unitholders - diluted |  |  | 56,627 |  |  |  | 69,777 |  |  |  | 243,741 |  |  |  | 239,153 |
Litigation reserve |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,050 |
Debt satisfaction (gains) charges, net, including non-consolidated entities |  |  | 368 |  |  |  | (3,796 | ) |  |  | 2,596 |  |  |  | (6,174 | )
Impairment loss - loan receivable |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,294 |
Unearned contingent acquisition consideration |  |  | — |  |  |  | (3,922 | ) |  |  | — |  |  |  | (3,922 | )
Other(1) |  |  | (3,305 | ) |  |  | 1,071 |  |  |  | (10,038 | ) |  |  | 2,171 |
Adjusted Company FFO available to all equityholders and unitholders - diluted |  |  | 53,690 |  |  |  | 63,130 |  |  |  | 236,299 |  |  |  | 238,572 |
FUNDS AVAILABLE FOR DISTRIBUTION: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Straight-line rents |  |  | (4,722 | ) |  |  | (7,232 | ) |  |  | (20,968 | ) |  |  | (19,784 | )
Lease incentives |  |  | 227 |  |  |  | 513 |  |  |  | 1,686 |  |  |  | 1,969 |
Amortization of above/below market leases |  |  | (28 | ) |  |  | 364 |  |  |  | 285 |  |  |  | 1,544 |
Lease termination payments, net |  |  | (309 | ) |  |  | (253 | ) |  |  | (1,234 | ) |  |  | (690 | )
Non-cash interest, net |  |  | 854 |  |  |  | 1,018 |  |  |  | 4,209 |  |  |  | 2,465 |
Non-cash charges, net |  |  | 1,611 |  |  |  | 2,119 |  |  |  | 6,810 |  |  |  | 8,318 |
Tenant improvements |  |  | (1,608 | ) |  |  | (1,136 | ) |  |  | (8,271 | ) |  |  | (11,203 | )
Lease costs |  |  | (1,448 | ) |  |  | (1,242 | ) |  |  | (4,522 | ) |  |  | (6,526 | )
Joint venture and non-controlling interest adjustment |  |  | (449 | ) |  |  | — |  |  |  | (505 | ) |  |  | — |
Company Funds Available for Distribution |  | $ | 47,818 |  |  | $ | 57,281 |  |  | $ | 213,789 |  |  | $ | 214,665 |
Per Common Share and Unit Amounts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FFO |  | $ | 0.23 |  |  | $ | 0.28 |  |  | $ | 0.99 |  |  | $ | 0.96 |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FFO |  | $ | 0.23 |  |  | $ | 0.28 |  |  | $ | 0.99 |  |  | $ | 0.97 |
Adjusted Company FFO |  | $ | 0.22 |  |  | $ | 0.26 |  |  | $ | 0.96 |  |  | $ | 0.97 |
Weighted-Average Common Shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding - basic EPS |  |  | 233,963,608 |  |  |  | 238,131,814 |  |  |  | 236,666,375 |  |  |  | 237,758,408 |
Operating partnership units(2) |  |  | 3,606,184 |  |  |  | 3,631,649 |  |  |  | 3,616,120 |  |  |  | 3,693,144 |
Weighted-average common shares outstanding - basic FFO |  |  | 237,569,792 |  |  |  | 241,763,463 |  |  |  | 240,282,495 |  |  |  | 241,451,552 |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding - diluted EPS |  |  | 238,292,912 |  |  |  | 241,821,194 |  |  |  | 240,810,990 |  |  |  | 241,537,837 |
Unvested share-based payment awards |  |  | — |  |  |  | 713,351 |  |  |  | — |  |  |  | 666,127 |
Preferred shares - Series C |  |  | 4,710,570 |  |  |  | 4,710,570 |  |  |  | 4,710,570 |  |  |  | 4,710,570 |
Weighted-average common shares outstanding - diluted FFO |  |  | 243,003,482 |  |  |  | 247,245,115 |  |  |  | 245,521,560 |  |  |  | 246,914,534 |

| (1) | "Other" primarily consisted of the acceleration of below-market lease intangible accretion in 2018 and transaction related costs in 2017 and 2016.

| (2) | Includes OP units other than OP units held by Lexington.

13

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

RECONCILIATION OF NON-GAAP MEASURES

(UNAUDITED)

2019 EARNINGS GUIDANCE

|  | Twelve Months Ended December 31, 2019 |
|  | Range |
Estimated: |  |  |  |  |  |
Net income attributable to common shareholders per diluted common share(1) |  | $ | 1.36 |  |  | $ | 1.40 |
Depreciation and amortization |  |  | 0.56 |  |  |  | 0.56 |
Impact of capital transactions |  |  | (1.17 | ) |  |  | (1.17 | )
Estimated Adjusted Company FFO per diluted common share |  | $ | 0.75 |  |  | $ | 0.79 |

| (1) | Assumes all convertible securities are dilutive.

14

LEXINGTON REALTY TRUST

2018 Fourth Quarter Investments / Capital Recycling Summary

PROPERTY INVESTMENTS |  |  |  |
|  | Primary Tenant |  | Location |  | Square Feet (Approx.) |  |  | Property Type |  | Initial Basis ($000) |  |  | Month Closed |  | Primary Lease Expiration
1 |  | Blue Buffalo |  | Goodyear |  | AZ |  |  | 540,000 |  |  | Industrial |  | $ | 41,372 |  |  | November |  | 04/2026
2 |  | Philip Morris |  | Chester |  | VA |  |  | 1,034,000 |  |  | Industrial |  |  | 66,311 |  |  | December |  | 06/2030
2 |  | TOTAL PROPERTY INVESTMENTS (1) |  |  | 1,574,000 |  |  |  |  | $ | 107,683 |  |  |  |  |

CAPITAL RECYCLING |  |  |  |  |  |  |  |  |  |  |
PROPERTY DISPOSITIONS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Primary Tenant |  | Location |  | Property Type |  | Gross Disposition Price ($000) |  |  | Annualized Net Income (Loss) ($000) (2) |  |  | Annualized NOI ($000)(2)(3) |  |  | Month of Disposition |  | % Leased |  |  | Gross Disposition Price PSF |
1 |  | Oregon Research Institute |  | Eugene | OR |  | Office |  | $ | 16,000 |  |  | $ | 2,098 |  |  | $ | 1,832 |  |  | October |  |  | 100 | % |  | $ | 199.97 |
2 |  | Alstom Power |  | Knoxville | TN |  | Office |  |  | 16,000 |  |  |  | 1,262 |  |  |  | 1,249 |  |  | November |  |  | 100 | % |  |  | 189.56 |
3 |  | Vacant (4) |  | Manteca | CA |  | Other |  |  | 2,700 |  |  |  | 967 |  |  |  | 381 |  |  | November |  |  | 0 | % |  |  | 25.12 |
4 |  | Delhaize |  | Jefferson | NC |  | Other |  |  | 1,550 |  |  |  | 156 |  |  |  | 160 |  |  | December |  |  | 100 | % |  |  | 44.86 |
5 |  | Vacant |  | Wallingford | CT |  | Office |  |  | 1,050 |  |  |  | (222 | ) |  |  | (179 | ) |  | December |  |  | 0 | % |  |  | 23.65 |
6 |  | Vacant |  | Florence | SC |  | Office |  |  | 1,838 |  |  |  | (320 | ) |  |  | 325 |  |  | December |  |  | 0 | % |  |  | 10.41 |
7 |  | Kingsport Power |  | Kingsport | TN |  | Office |  |  | 3,400 |  |  |  | 287 |  |  |  | 310 |  |  | December |  |  | 100 | % |  |  | 79.49 |
8 |  | Federal Express |  | Memphis | TN |  | Office |  |  | 50,800 |  |  |  | 6,844 |  |  |  | 7,101 |  |  | December |  |  | 100 | % |  |  | 97.45 |
8 |  | TOTAL PROPERTY DISPOSITIONS (5) |  | $ | 93,338 |  |  | $ | 11,072 |  |  | $ | 11,179 |  |  |  |  |  |  |  |  |  |  |

NON-CONSOLIDATED DISPOSITION |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Primary Tenant |  | Location |  | Property Type |  | Gross Disposition Price ($000) |  |  | Annualized Net Income ($000) (2) |  |  | Annualized NOI ($000)(2)(3) |  |  | Month of Disposition |  | % Leased |  |  | Gross Disposition Price PSF |
6 |  |  | BluePearl (6) |  | Various |  | Office |  | $ | 46,100 |  |  | $ | 1,025 |  |  | $ | 2,870 |  |  | December |  |  | 100.0 | % |  | $ | 465.66 |

Footnotes

| (1) | In addition, Lexington acquired a 57-acre parcel of land from a non-consolidated joint venture and leased the parcel to a tenant to develop an industrial property.

| (2) | Quarterly period prior to sale; excluding impairment charges, annualized.

| (3) | See definitions of non-GAAP measures and reconciliations to applicable GAAP measures in this document.

| (4) | Annualized net income excludes the acceleration of below-market lease intangible accretion.

| (5) | Also, Lexington's property owner subsidiary transferred its leasehold interest in a vacant retail property in San Diego, CA to the ground owner.

| (6) | Lexington had a 15% interest in the joint venture and received $4.3 million in net proceeds at closing.

15

LEXINGTON REALTY TRUST

2018 Fourth Quarter Financing Summary

DEBT RETIRED |  |  |  |  |  |  |  |  |  |  |
Location |  | Primary Tenant |  | Property Type |  | Face / Satisfaction ($000) |  |  | Fixed Rate |  | Maturity Date
Consolidated Mortgage Debt |  |  |  |  |  |  |  |  |  |  |  |
Meridian, ID |  | T-Mobile USA |  | Office |  | $ | 7,892 |  |  | 6.010% |  | 08/2019
Non-Consolidated Mortgage Debt (1) |  |  |  |  |  |  |  |  |  |  |  |
Various |  | BluePearl |  | Office |  | $ | 18,791 |  |  | 4.010% |  | 11/2018
CORPORATE LEVEL FINANCING (2) |  |  |  |  |  |  |  |  |  |  |  |
|  | Quarterly Activity ($000) |  | Rate |  | Maturity Date |  |  |  |  |
2020 Term Loan (3) |  | $ 149,000 satisfaction |  | LIBOR plus 110 bps |  |  | 08/2020 |  |  |  |  |

Footnotes

| (1) | Lexington had a 15% interest in the joint venture.

| (2) | In December 2018, Lexington amended its credit facility to remove its operating partnership, Lepercq Corporate Income Fund L.P. ("LCIF"), as a borrower.

| (3) | Fully satisfied.

16

LEXINGTON REALTY TRUST

2018 Fourth Quarter Leasing Summary

LEASE EXTENSIONS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Tenant (3) |  | 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)(2) |  |  | Prior Cash Rent Per Annum ($000)(2) |
|  | Industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 |  | Teasdale |  | Carrollton |  | TX |  | 03/2025 |  | 12/2033 |  |  | 298,653 |  |  | $ | 1,297 |  |  | $ | 1,180 |  |  | $ | 1,179 |  |  | $ | 1,131 |
1 |  | Total industrial lease extensions |  |  |  |  |  |  |  |  | 298,653 |  |  | $ | 1,297 |  |  | $ | 1,180 |  |  | $ | 1,179 |  |  | $ | 1,131 |
|  | Office |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 |  | CaremarkPCS |  | Knoxville |  | TN |  | 05/2020 |  | 05/2027 |  |  | 59,748 |  |  | $ | 845 |  |  | $ | 773 |  |  | $ | 822 |  |  | $ | 807 |
2 |  | N/A |  | Indianapolis |  | IN |  | 02/2019 |  | 05/2019 |  |  | 3,764 |  |  |  | 75 |  |  |  | 72 |  |  |  | 75 |  |  |  | 72 |
2 |  | Total office lease extensions |  |  |  |  |  |  |  |  | 63,512 |  |  | $ | 920 |  |  | $ | 845 |  |  | $ | 897 |  |  | $ | 879 |
3 |  | TOTAL EXTENDED LEASES |  |  |  |  |  |  |  |  | 362,165 |  |  | $ | 2,217 |  |  | $ | 2,025 |  |  | $ | 2,076 |  |  | $ | 2,010 |

NEW LEASES |  |  |  |  |  |  |  |
|  | Tenant (3) |  | Location |  | Lease Expiration Date |  | Sq. Ft. |  |  | New GAAP Rent Per Annum ($000)(1) |  |  | New Cash Rent Per Annum ($000)(1)(2) |
|  | Office / Multi-tenant Office |  |  |  |  |  |  |  |  |  |  |  |  |
1 |  | Argosy Education |  | Phoenix |  | AZ |  | 05/2024 |  | 27,470 |  |  | $ | 494 |  |  | $ | 494 |
2 |  | N/A |  | Farmers Branch |  | TX |  | 04/2024 |  | 2,937 |  |  |  | 46 |  |  |  | 47 |
3 |  | CardWorks |  | Orlando |  | FL |  | 09/2029 |  | 59,927 |  |  |  | 881 |  |  |  | 1,019 |
3 |  | Total office new leases |  |  |  |  |  |  |  | 90,334 |  |  | $ | 1,421 |  |  | $ | 1,560 |
6 |  | TOTAL NEW AND EXTENDED LEASES |  |  |  | 452,499 |  |  | $ | 3,638 |  |  | $ | 3,636 |

17

LEXINGTON REALTY TRUST 2018

Fourth Quarter Leasing Summary (Continued)

NEW VACANCY (4) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Former Tenant |  | Location |  | Lease Expiration Date |  | Sq. Ft. |  |  | 2018 GAAP Rent ($000) |  |  | 2018 Cash Rent ($000)(2) |
|  | Industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 |  | Staples |  | Henderson |  | NC |  | 12/2018 |  |  | 196,946 |  |  | $ | 869 |  |  | $ | 886 |
2 |  | Bay Valley Foods |  | Plymouth |  | IN |  | 12/2018 |  |  | 300,500 |  |  |  | 856 |  |  |  | 856 |
2 |  | Total industrial vacancy |  |  |  |  | 497,446 |  |  | $ | 1,725 |  |  | $ | 1,742 |
|  | Office |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 |  | Swiss Re |  | Overland Park |  | KS |  | 12/2018 |  |  | 320,198 |  |  | $ | 5,419 |  |  | $ | 5,401 |
1 |  | Total office vacancy |  |  |  |  | 320,198 |  |  | $ | 5,419 |  |  | $ | 5,401 |
|  | Other |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 |  | Kmart (5)(6) |  | Watertown |  | NY |  | 01/2019 |  |  | 120,727 |  |  | $ | 525 |  |  | $ | 112 |
2 |  | Kmart (5) |  | Fairlea |  | WV |  | 01/2019 |  |  | 90,933 |  |  |  | 297 |  |  |  | 79 |
2 |  | Total other vacancy |  |  |  |  | 211,660 |  |  | $ | 822 |  |  | $ | 191 |
5 |  | TOTAL VACANCY |  |  |  |  | 1,029,304 |  |  | $ | 7,966 |  |  | $ | 7,334 |

Footnotes

| (1) | Assumes twelve months rent from the later of 1/1/19 or lease commencement/extension, excluding free rent periods as applicable.

| (2) | See definitions of non-GAAP measures and reconciliations to applicable GAAP measures in this document.

| (3) | Leases greater than 10,000 square feet.

| (4) | Excludes multi-tenant properties, disposed properties and non-consolidated investments.

| (5) | Tenant declared bankruptcy in October 2018 and rejected the lease.

| (6) | Excludes the acceleration of below-market lease intangible accretion.

18

LEXINGTON REALTY TRUST

Other Revenue Data

12/31/2018

($000)

Other Revenue Data

|  | GAAP Rent |
Asset Class |  | Twelve months ended |
|  | 12/31/18 (1)(4) |  |  | 12/31/18 Percentage |  |  | 12/31/17 Percentage (5) |
Industrial |  | $ | 187,904 |  |  |  | 65.4 | % |  |  | 44.3 | %
Office |  |  | 94,818 |  |  |  | 33.0 | % |  |  | 53.3 | %
Other |  |  | 4,605 |  |  |  | 1.6 | % |  |  | 2.4 | %
|  | $ | 287,327 |  |  |  | 100.0 | % |  |  | 100.0 | %

|  | GAAP Rent |
Credit Ratings (2) |  | Twelve months ended |
|  | 12/31/18 (1)(4) |  |  | 12/31/18 Percentage |  |  | 12/31/17 Percentage |
Investment Grade |  | $ | 112,242 |  |  |  | 39.1 | % |  |  | 40.1 | %
Non-Investment Grade |  |  | 54,716 |  |  |  | 19.0 | % |  |  | 15.5 | %
Unrated |  |  | 120,369 |  |  |  | 41.9 | % |  |  | 44.4 | %
|  | $ | 287,327 |  |  |  | 100.0 | % |  |  | 100.0 | %

Weighted-Average Lease Term - Cash Basis |  | As of 12/31/18 |  | As of 12/31/17
|  | 8.9 years |  | 9.1 years

Rent Estimates for Current Assets
Year |  | GAAP (3) |  |  | Cash (3) |  |  | Difference |
2019 |  | $ | 284,640 |  |  | $ | 270,557 |  |  | $ | (14,083 | )
2020 |  |  | 264,419 |  |  |  | 253,660 |  |  |  | (10,759 | )

Footnotes

| (1) | Twelve months ended 12/31/2018 GAAP rent, excluding termination income, recognized for consolidated properties owned as of 12/31/2018.

| (2) | Credit ratings are based upon either tenant, guarantor or parent. Generally, multi-tenant assets are included in unrated.

| (3) | Amounts assume (1) lease terms for non-cancellable periods only, (2) no new or renegotiated leases are entered into after 12/31/2018, and (3) no properties are sold or acquired after 12/31/2018.

| (4) | Excludes the acceleration of below-market lease intangible accretion on one Kmart asset.

| (5) | Multi-tenant properties reclassified to individual property types.

19

LEXINGTON REALTY TRUST

Other Revenue Data (Continued)

12/31/2018

($000)

Same-Store NOI (1)

|  | Twelve months ended December 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Total Cash Rent |  | $ | 202,233 |  |  | $ | 202,690 |  |  | $ | 201,862 |
Tenant Reimbursements |  |  | 12,993 |  |  |  | 11,233 |  |  |  | 11,740 |
Property Operating Expenses |  |  | (23,729 | ) |  |  | (22,137 | ) |  |  | (20,730 | )
Same-Store NOI |  | $ | 191,497 |  |  | $ | 191,786 |  |  | $ | 192,872 |
Change in Same-Store NOI |  |  | (0.2 | )% |  |  | (0.6 | )% |  |  |  |

Same-Store Percent Leased (2) |  | As of 12/31/18 |  |  | As of 12/31/17 |  |  | As of 12/31/16 |
|  |  | 92.1 | % |  |  | 98.9 | % |  |  | 99.1 | %

Lease Escalation Data (3)

Footnotes

| (1) | NOI is on a consolidated cash basis for all consolidated properties except properties acquired and sold in 2018, 2017 and 2016. See definitions of non-GAAP measures and reconciliations to applicable GAAP measures in this document.

| (2) | Excludes properties acquired or sold in 2018, 2017 and 2016.

| (3) | Based on twelve months consolidated cash rents for single-tenant leases (properties greater than 70% leased) owned as of December 31, 2018. Excludes parking operations and rents from prior tenants.

20

LEXINGTON REALTY TRUST

Portfolio Detail By Asset Class

12/31/2018

($000, except square footage)

Asset Class |  | YE 2016 (1) |  |  | YE 2017 (1) |  |  | YE 2018 |
Industrial |  |  |  |  |  |  |  |  |  |  |  |
% of Cost (2) |  |  | 42.2 | % |  |  | 49.3 | % |  |  | 71.1 | %
% of ABR (3) |  |  | 40.8 | % |  |  | 44.3 | % |  |  | 65.4 | %
Leased |  |  | 98.2 | % |  |  | 99.9 | % |  |  | 96.3 | %
Wtd. Avg. Lease Term (4) |  |  | 10.3 |  |  |  | 10.5 |  |  |  | 9.6 |
Mortgage Debt |  | $ | 240,790 |  |  | $ | 193,529 |  |  | $ | 206,006 |
% Investment Grade (3) |  |  | 25.4 | % |  |  | 28.4 | % |  |  | 31.6 | %
Square Feet |  |  | 28,908,037 |  |  |  | 36,071,422 |  |  |  | 41,447,962 |
Office |  |  |  |  |  |  |  |  |  |  |  |
% of Cost (2) |  |  | 53.6 | % |  |  | 48.0 | % |  |  | 27.2 | %
% of ABR (3) |  |  | 55.4 | % |  |  | 53.3 | % |  |  | 33.0 | %
Leased |  |  | 90.7 | % |  |  | 96.8 | % |  |  | 91.4 | %
Wtd. Avg. Lease Term (4) |  |  | 7.0 |  |  |  | 7.5 |  |  |  | 6.5 |
Mortgage Debt |  | $ | 501,534 |  |  | $ | 502,829 |  |  | $ | 369,508 |
% Investment Grade (3) |  |  | 47.0 | % |  |  | 51.1 | % |  |  | 55.4 | %
Square Feet |  |  | 13,032,223 |  |  |  | 11,583,316 |  |  |  | 5,683,808 |
Other |  |  |  |  |  |  |  |  |  |  |  |
% of Cost (2) |  |  | 4.2 | % |  |  | 2.7 | % |  |  | 1.7 | %
% of ABR (3)(5) |  |  | 3.8 | % |  |  | 2.4 | % |  |  | 1.6 | %
Leased |  |  | 97.2 | % |  |  | 87.3 | % |  |  | 30.0 | %
Wtd. Avg. Lease Term (4) |  |  | 13.7 |  |  |  | 18.0 |  |  |  | 30.5 |
Mortgage Debt |  | $ | 2,849 |  |  | $ | 710 |  |  | $ | - |
% Investment Grade (3) |  |  | 16.8 | % |  |  | 12.0 | % |  |  | 9.4 | %
Square Feet |  |  | 1,384,037 |  |  |  | 959,324 |  |  |  | 427,780 |
Loans Receivable |  | $ | 94,210 |  |  | $ | - |  |  | $ | - |
Construction in progress (6) |  | $ | 111,771 |  |  | $ | 4,219 |  |  | $ | 1,840 |

Footnotes

| (1) | Multi-tenant properties reclassified to individual property types.

| (2) | Based on gross book value of real estate assets; excludes held for sale assets.

| (3) | Percentage of GAAP rent, excluding termination income, for consolidated properties owned as of each respective period.

| (4) | Cash basis.

| (5) | Excludes the acceleration of below-market lease intangible accretion on one Kmart asset in 2018.

| (6) | Includes development classified as real estate under construction on a consolidated basis.

21

LEXINGTON REALTY TRUST

Portfolio Composition

12/31/2018

As a Percent of Gross Book Value (1)

Portfolio Composition (2)

Footnotes

| (1) | Based on gross book value of real estate assets as of 12/31/2018; excludes held for sale assets.

| (2) | Based on gross book value of real estate assets as of 12/31/2018, 12/31/2017 and 12/31/2016, as applicable and excludes held for sale assets.

22

LEXINGTON REALTY TRUST

Components of Net Asset Value

12/31/2018

($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 twelve month net operating income (NOI) (1) |  |  |  |
Industrial |  | $ | 161,342 |
Office |  |  | 78,557 |
Other |  |  | 2,522 |
Total Net Operating Income |  | $ | 242,421 |
Lexington's share of non-consolidated twelve month NOI (1) |  |  |  |
NNN OFFICE JV |  |  |  |
Office (2) |  | $ | 3,618 |
OTHER JV |  |  |  |
Other |  | $ | 1,828 |
Other income |  |  |  |
Advisory fees |  | $ | 1,632 |
In service assets not fairly valued by capitalized NOI method (1) |  |  |  |
Wholly-owned assets acquired in 2018 |  | $ | 313,187 |
Wholly-owned assets less than 70% leased |  | $ | 53,925 |
Add other assets: |  |  |  |
Assets held for sale |  | $ | 63,868 |
Construction in progress |  |  | 1,840 |
Developable land |  |  | 4,975 |
Cash and cash equivalents |  |  | 168,750 |
Restricted cash |  |  | 8,497 |
Accounts receivable |  |  | 3,475 |
Other assets |  |  | 12,779 |
Total other assets |  | $ | 264,184 |
Liabilities: |  |  |  |
Corporate level debt (face amount) |  | $ | 929,120 |
Mortgages and notes payable (face amount) |  |  | 575,514 |
Dividends payable |  |  | 48,774 |
Liabilities held for sale |  |  | 386 |
Accounts payable, accrued expenses and other liabilities |  |  | 44,988 |
Preferred stock, at liquidation value |  |  | 96,770 |
Lexington's share of non-consolidated mortgages |  |  | 108,543 |
Total deductions |  | $ | 1,804,095 |
Common shares & OP units at 12/31/2018 |  |  | 238,586,058 |

Footnotes

| (1) | NOI for the existing property portfolio at December 31, 2018, 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 2018. For assets in this category an NOI capitalization approach is not appropriate, and accordingly, Lexington's net book value has been used. See definitions of non-GAAP measures and reconciliations to applicable GAAP measures in this document.

| (2) | NOI since acquisition in 3Q 2018.

23

LEXINGTON REALTY TRUST

Consolidated Portfolio Concentration

12/31/2018

|  |  | Markets (2) |  | Percent of GAAP Rent as of 12/31/18 (1)(4) |
1 |  |  | Houston, TX |  |  | 10.6 | %
2 |  |  | Memphis, TN |  |  | 5.5 | %
3 |  |  | Kansas City, MO |  |  | 5.3 | %
4 |  |  | Detroit, MI |  |  | 4.8 | %
5 |  |  | Kennewick, WA |  |  | 4.6 | %
6 |  |  | New York, NY |  |  | 3.9 | %
7 |  |  | Nashville, TN |  |  | 3.3 | %
8 |  |  | Dallas, TX |  |  | 3.2 | %
9 |  |  | Philadelphia, PA |  |  | 2.8 | %
10 |  |  | Atlanta, GA |  |  | 2.4 | %
11 |  |  | San Jose, CA |  |  | 2.3 | %
12 |  |  | Jackson, MS |  |  | 2.2 | %
13 |  |  | Phoenix, AZ |  |  | 1.7 | %
14 |  |  | Indianapolis, IN |  |  | 1.7 | %
15 |  |  | Columbus, IN |  |  | 1.6 | %
16 |  |  | St. Louis, MO |  |  | 1.6 | %
17 |  |  | Greenville, SC |  |  | 1.5 | %
18 |  |  | Champaign, IL |  |  | 1.5 | %
19 |  |  | Columbus, OH |  |  | 1.4 | %
20 |  |  | Charlotte, NC |  |  | 1.4 | %
|  |  | Total Consolidated Portfolio Concentration (3) |  |  | 63.3 | %

Footnotes

| (1) | Twelve months ended 12/31/2018 GAAP rent, excluding termination income, recognized for consolidated properties owned as of 12/31/2018.

| (2) | Markets are based on a Core Based Statistical Area, which 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.

| (4) | Excludes the acceleration of below-market lease intangible accretion on one Kmart asset.

24

LEXINGTON REALTY TRUST

Portfolio Concentration - Industrial

12/31/2018

|  |  | Markets (2) |  | Percent of GAAP Rent as of 12/31/18 (1) |
1 |  |  | Memphis, TN |  |  | 8.4 | %
2 |  |  | Houston, TX |  |  | 7.3 | %
3 |  |  | Kennewick, WA |  |  | 7.0 | %
4 |  |  | Detroit, MI |  |  | 5.5 | %
5 |  |  | Nashville, TN |  |  | 5.1 | %
6 |  |  | Jackson, MS |  |  | 3.3 | %
7 |  |  | Atlanta, GA |  |  | 3.1 | %
8 |  |  | New York, NY |  |  | 2.7 | %
9 |  |  | St. Louis, MO |  |  | 2.4 | %
10 |  |  | Greenville, SC |  |  | 2.4 | %
11 |  |  | Champaign, IL |  |  | 2.2 | %
12 |  |  | Columbus, OH |  |  | 2.1 | %
13 |  |  | Jackson, TN |  |  | 2.1 | %
14 |  |  | Winchester, VA |  |  | 2.0 | %
15 |  |  | Chicago, IL |  |  | 1.9 | %
16 |  |  | Shreveport, LA |  |  | 1.9 | %
17 |  |  | Greenville, SC |  |  | 1.8 | %
18 |  |  | Elizabethtown, KY |  |  | 1.8 | %
19 |  |  | Auburn, AL |  |  | 1.7 | %
20 |  |  | Portland, OR |  |  | 1.7 | %
|  |  | Total Industrial Portfolio Concentration (3) |  |  | 66.4 | %

Footnotes

| (1) | Twelve months ended 12/31/2018 GAAP rent, excluding termination income, recognized for consolidated properties owned as of 12/31/2018.

| (2) | Markets are based on a Core Based Statistical Area, which 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.

25

LEXINGTON REALTY TRUST

Portfolio Concentration - Office

12/31/2018

|  |  | Markets (2) |  | Percent of GAAP Rent as of 12/31/18 (1) |
1 |  |  | Houston, TX |  |  | 17.7 | %
2 |  |  | Kansas City, MO |  |  | 14.8 | %
3 |  |  | Philadelphia, PA |  |  | 7.4 | %
4 |  |  | San Jose, CA |  |  | 7.0 | %
5 |  |  | Dallas, TX |  |  | 6.8 | %
6 |  |  | New York, NY |  |  | 6.4 | %
7 |  |  | Phoenix, AZ |  |  | 5.0 | %
8 |  |  | Columbus, IN |  |  | 4.9 | %
9 |  |  | Charlotte, NC |  |  | 4.2 | %
10 |  |  | Detroit, MI |  |  | 3.7 | %
11 |  |  | Washington, DC |  |  | 3.3 | %
12 |  |  | Indianapolis, IN |  |  | 2.8 | %
13 |  |  | Miami, FL |  |  | 2.4 | %
14 |  |  | Richmond, VA |  |  | 2.3 | %
15 |  |  | Bend, OR |  |  | 1.5 | %
16 |  |  | Baton Rouge, LA |  |  | 1.2 | %
17 |  |  | Augusta, ME |  |  | 1.2 | %
18 |  |  | Boise City, ID |  |  | 1.2 | %
19 |  |  | McAllen, TX |  |  | 1.0 | %
20 |  |  | Orlando, FL |  |  | 1.0 | %
|  |  | Total Office Portfolio Concentration (3) |  |  | 95.9 | %

Footnotes

| (1) | Twelve months ended 12/31/2018 GAAP rent, excluding termination income, recognized for consolidated properties owned as of 12/31/2018.

| (2) | Markets are based on a Core Based Statistical Area, which 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.

26

LEXINGTON REALTY TRUST

Tenant Industry Diversification - Industrial Assets (1)

12/31/2018

Footnotes

| (1) | Twelve months ended 12/31/2018 GAAP rent, excluding termination income, recognized for consolidated properties owned as of 12/31/2018.

27

LEXINGTON REALTY TRUST

Tenant Industry Diversification - Office Assets (1)

12/31/2018

Footnotes

| (1) | Twelve months ended 12/31/2018 GAAP rent, excluding termination income, recognized for consolidated properties owned as of 12/31/2018.

28

LEXINGTON REALTY TRUST

Top 15 Tenants or Guarantors

12/31/2018

Top 15 Tenants or Guarantors - GAAP Basis

Tenants or Guarantors (5) |  | Property Type |  | Lease Expirations |  | Number of Leases |  | Sq. Ft. Leased |  |  | Sq. Ft. Leased as a Percent of Consolidated Portfolio (2)(3) |  |  | GAAP Rent as of 12/31/2018 ($000) (1)(4) |  |  | Percent of GAAP Rent as of 12/31/2018 ($000) (1)(2)(4) |
Dow |  | Office |  | 2036 |  | 1 |  |  | 664,100 |  |  |  | 1.5 | % |  | $ | 14,850 |  |  |  | 5.3 | %
Preferred Freezer |  | Industrial |  | 2035 |  | 1 |  |  | 456,412 |  |  |  | 1.0 | % |  |  | 13,133 |  |  |  | 4.7 | %
Nissan |  | Industrial |  | 2027 |  | 2 |  |  | 2,971,000 |  |  |  | 6.6 | % |  |  | 12,810 |  |  |  | 4.6 | %
Dana |  | Industrial |  | 2021-2026 |  | 7 |  |  | 2,053,359 |  |  |  | 4.5 | % |  |  | 9,942 |  |  |  | 3.6 | %
United States of America |  | Office |  | 2022 & 2027 |  | 2 |  |  | 329,229 |  |  |  | 0.7 | % |  |  | 8,039 |  |  |  | 2.9 | %
Undisclosed (6) |  | Industrial |  | 2031-2035 |  | 3 |  |  | 1,090,383 |  |  |  | 2.4 | % |  |  | 7,138 |  |  |  | 2.6 | %
Watco |  | Industrial |  | 2038 |  | 1 |  |  | 132,449 |  |  |  | 0.3 | % |  |  | 6,773 |  |  |  | 2.4 | %
Xerox |  | Office |  | 2023 |  | 1 |  |  | 202,000 |  |  |  | 0.4 | % |  |  | 6,642 |  |  |  | 2.4 | %
Techtronic Industries (7) |  | Industrial |  | 2025 & 2036 |  | 2 |  |  | 1,785,022 |  |  |  | 3.9 | % |  |  | 6,507 |  |  |  | 2.3 | %
Morgan Lewis |  | Office |  | 2021 |  | 1 |  |  | 289,432 |  |  |  | 0.6 | % |  |  | 6,309 |  |  |  | 2.3 | %
T-Mobile USA |  | Office |  | 2019-2029 |  | 5 |  |  | 385,854 |  |  |  | 0.9 | % |  |  | 5,856 |  |  |  | 2.1 | %
Undisclosed (8) |  | Industrial |  | 2023-2027 |  | 3 |  |  | 2,132,290 |  |  |  | 4.7 | % |  |  | 5,528 |  |  |  | 2.0 | %
FedEx |  | Industrial |  | 2028 |  | 1 |  |  | 140,330 |  |  |  | 0.3 | % |  |  | 5,135 |  |  |  | 1.8 | %
Michelin |  | Industrial |  | 2019 & 2020 |  | 2 |  |  | 1,759,346 |  |  |  | 3.9 | % |  |  | 4,856 |  |  |  | 1.7 | %
General Electric (9) |  | Industrial/Office |  | 2019 & 2024 |  | 2 |  |  | 950,427 |  |  |  | 2.1 | % |  |  | 4,752 |  |  |  | 1.7 | %
|  |  |  |  |  | 34 |  |  | 15,341,633 |  |  |  | 33.9 | % |  | $ | 118,270 |  |  |  | 42.6 | %

Footnotes

| (1) | Twelve months ended 12/31/2018 GAAP rent, excluding vacant properties and termination income, recognized for consolidated properties owned as of 12/31/2018.

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

| (3) | Excludes vacant square feet.

| (4) | Excludes the acceleration of below-market lease intangible accretion on one Kmart asset.

| (5) | See Annual Report and other applicable disclosures for actual tenant names.

| (6) | Tenant is a domestic subsidiary of an international automaker.

| (7) | One property sold subsequent to 12/31/2018.

| (8) | Lease restricts certain disclosures. Guarantor is investment grade.

| (9) | One property held for sale at 12/31/2018.

29

LEXINGTON REALTY TRUST

Lease Rollover Schedule - Consolidated Industrial Properties GAAP Basis

12/31/2018

($000)

Year |  | Number of Leases Expiring |  |  | GAAP Rent as of 12/31/2018 |  |  | Percent of GAAP Rent as of 12/31/2018 |  |  | Percent of GAAP Rent as of 12/31/2017 |
2019 |  |  | 6 |  |  | $ | 6,182 |  |  |  | 3.4 | % |  |  | 3.9 | %
2020 |  |  | 9 |  |  |  | 11,520 |  |  |  | 6.2 | % |  |  | 7.2 | %
2021 |  |  | 9 |  |  |  | 11,622 |  |  |  | 6.3 | % |  |  | 5.5 | %
2022 |  |  | 1 |  |  |  | 1,343 |  |  |  | 0.7 | % |  |  | 0.9 | %
2023 |  |  | 3 |  |  |  | 2,088 |  |  |  | 1.1 | % |  |  | 1.3 | %
2024 |  |  | 9 |  |  |  | 12,888 |  |  |  | 7.0 | % |  |  | 6.5 | %
2025 |  |  | 9 |  |  |  | 12,397 |  |  |  | 6.7 | % |  |  | 8.0 | %
2026 |  |  | 9 |  |  |  | 13,248 |  |  |  | 7.2 | % |  |  | 8.4 | %
2027 |  |  | 8 |  |  |  | 24,667 |  |  |  | 13.4 | % |  |  | 9.8 | %
2028 |  |  | 4 |  |  |  | 11,755 |  |  |  | 6.4 | % |  |  | 6.2 | %
Thereafter |  |  | 25 |  |  |  | 76,669 |  |  |  | 41.6 | % |  |  | 40.2 | %
Total (1) |  |  | 92 |  |  | $ | 184,379 |  |  |  | 100.0 | % |  |  |  |

Footnotes

| (1) | Total shown may differ from detailed amounts due to rounding and does not include lease termination income.

30

LEXINGTON REALTY TRUST

Lease Rollover Schedule - Consolidated Office Properties GAAP Basis

12/31/2018

($000)

Year |  | Number of Leases Expiring |  |  | GAAP Rent as of 12/31/2018 |  |  | Percent of GAAP Rent as of 12/31/2018 |  |  | Percent of GAAP Rent as of 12/31/2017 |
2019 |  |  | 7 |  |  | $ | 9,801 |  |  |  | 11.2 | % |  |  | 13.4 | %
2020 |  |  | 3 |  |  |  | 4,380 |  |  |  | 5.0 | % |  |  | 4.4 | %
2021 |  |  | 10 |  |  |  | 15,075 |  |  |  | 17.2 | % |  |  | 8.7 | %
2022 |  |  | 3 |  |  |  | 4,861 |  |  |  | 5.6 | % |  |  | 6.2 | %
2023 |  |  | 4 |  |  |  | 7,519 |  |  |  | 8.6 | % |  |  | 6.3 | %
2024 |  |  | 9 |  |  |  | 11,709 |  |  |  | 13.4 | % |  |  | 5.4 | %
2025 |  |  | 5 |  |  |  | 3,422 |  |  |  | 3.9 | % |  |  | 10.3 | %
2026 |  |  | 1 |  |  |  | 1,109 |  |  |  | 1.3 | % |  |  | 2.3 | %
2027 |  |  | 4 |  |  |  | 5,822 |  |  |  | 6.7 | % |  |  | 7.5 | %
2028 |  |  | 2 |  |  |  | 1,187 |  |  |  | 1.4 | % |  |  | 2.3 | %
Thereafter |  |  | 5 |  |  |  | 22,622 |  |  |  | 25.9 | % |  |  | 27.6 | %
Total (1) |  |  | 53 |  |  | $ | 87,507 |  |  |  | 100.0 | % |  |  |  |

Footnotes

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

31

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 12/31/2018

Year of Lease Expiration |  | Date of Lease Expiration |  | Property Location |  | City |  | State |  | Note |  | Primary Tenant or Guarantor (19) |  | Sq. Ft. Leased or Available (1) |  |  | GAAP Rent as of 12/31/2018 ($000) (3) |  |  | Cash Rent as of 12/31/2018 ($000) (2) |  |  | 12/31/2018 Debt Balance ($000) |  |  | Debt Maturity |
INDUSTRIAL PROPERTIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-tenant |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2019 |  | MTM |  | 749 Southrock Dr. |  | Rockford |  | IL |  | 20 |  | Jacobson Warehouse |  |  | 150,000 |  |  |  | 471 |  |  |  | 540 |  |  |  | - |  |  |  | - |
|  | 10/17/2019 |  | 10345 Philipp Pkwy. |  | Streetsboro |  | OH |  | — |  | L'Oreal USA |  |  | 649,250 |  |  |  | 2,611 |  |  |  | 2,817 |  |  |  | 16,565 |  |  |  | 09/2019 |
|  | 12/31/2019 |  | 191 Arrowhead Dr. |  | Hebron |  | OH |  | 22 |  | Owens Corning |  |  | 250,410 |  |  |  | 570 |  |  |  | 570 |  |  |  | - |  |  |  | - |
|  |  |  | 200 Arrowhead Dr. |  | Hebron |  | OH |  | 22 |  | Owens Corning |  |  | 400,522 |  |  |  | 912 |  |  |  | 912 |  |  |  | - |  |  |  | - |
|  |  |  | 2415 US Hwy. 78 East |  | Moody |  | AL |  | — |  | Michelin |  |  | 595,346 |  |  |  | 1,408 |  |  |  | 1,450 |  |  |  | - |  |  |  | - |
2020 |  | 1/31/2020 |  | 101 Michelin Dr. |  | Laurens |  | SC |  | — |  | Michelin |  |  | 1,164,000 |  |  |  | 3,448 |  |  |  | 3,448 |  |  |  | - |  |  |  | - |
|  | 5/31/2020 |  | 359 Gateway Dr. |  | Lavonia |  | GA |  | — |  | TI Automotive |  |  | 133,221 |  |  |  | 952 |  |  |  | 1,200 |  |  |  | 6,647 |  |  |  | 12/2020 |
|  | 6/30/2020 |  | 1650-1654 Williams Rd. |  | Columbus |  | OH |  | — |  | ODW Logistics |  |  | 772,450 |  |  |  | 1,345 |  |  |  | 1,347 |  |  |  | - |  |  |  | - |
|  |  |  | 3102 Queen Palm Dr. |  | Tampa |  | FL |  | — |  | Time |  |  | 229,605 |  |  |  | 1,234 |  |  |  | 1,351 |  |  |  | - |  |  |  | - |
|  | 9/30/2020 |  | 3350 Miac Cove Rd. |  | Memphis |  | TN |  | — |  | Mimeo.com |  |  | 107,400 |  |  |  | 422 |  |  |  | 451 |  |  |  | - |  |  |  | - |
|  | 12/19/2020 |  | 1901 Ragu Dr. |  | Owensboro |  | KY |  | 6 |  | Unilever |  |  | 443,380 |  |  |  | 1,493 |  |  |  | 1,288 |  |  |  | - |  |  |  | - |
|  | 12/31/2020 |  | 2203 Sherrill Dr. |  | Statesville |  | NC |  | — |  | Geodis America |  |  | 639,800 |  |  |  | 2,493 |  |  |  | 2,463 |  |  |  | - |  |  |  | - |
2021 |  | 3/31/2021 |  | 2455 Premier Row |  | Orlando |  | FL |  | — |  | Walgreen Co. |  |  | 205,016 |  |  |  | 786 |  |  |  | 508 |  |  |  | - |  |  |  | - |
|  | 5/31/2021 |  | 291 Park Center Dr. |  | Winchester |  | VA |  | — |  | Kraft Heinz |  |  | 344,700 |  |  |  | 1,421 |  |  |  | 1,416 |  |  |  | - |  |  |  | - |
|  | 6/30/2021 |  | 11624 S. Distribution Cv. |  | Olive Branch |  | MS |  | — |  | Hamilton Beach |  |  | 1,170,218 |  |  |  | 2,760 |  |  |  | 2,222 |  |  |  | - |  |  |  | - |
|  | 9/30/2021 |  | 3820 Micro Dr. |  | Millington |  | TN |  | — |  | Ingram Micro |  |  | 701,819 |  |  |  | 1,812 |  |  |  | 1,874 |  |  |  | - |  |  |  | - |
|  | 10/25/2021 |  | 6938 Elm Valley Dr. |  | Kalamazoo |  | MI |  | — |  | Dana |  |  | 150,945 |  |  |  | 1,747 |  |  |  | 2,027 |  |  |  | - |  |  |  | - |
|  | 11/30/2021 |  | 2880 Kenny Biggs Rd. |  | Lumberton |  | NC |  | — |  | Quickie Manufacturing |  |  | 423,280 |  |  |  | 1,356 |  |  |  | 1,437 |  |  |  | - |  |  |  | - |
|  | 12/31/2021 |  | 3686 South Central Ave. |  | Rockford |  | IL |  | — |  | Pierce Packaging |  |  | 93,000 |  |  |  | 316 |  |  |  | 316 |  |  |  | - |  |  |  | - |
2022 |  | 3/31/2022 |  | 5417 Campus Dr. |  | Shreveport |  | LA |  | — |  | Tire Rack |  |  | 257,849 |  |  |  | 1,343 |  |  |  | 1,403 |  |  |  | - |  |  |  | - |
2023 |  | 2/28/2023 |  | 7670 Hacks Cross Rd. |  | Olive Branch |  | MS |  | — |  | MAHLE Industries |  |  | 268,104 |  |  |  | 906 |  |  |  | 891 |  |  |  | - |  |  |  | - |
|  | 8/31/2023 |  | 10535 Red Bluff Rd. |  | Pasadena |  | TX |  | — |  | Unis |  |  | 257,835 |  |  |  | 446 |  |  |  | 435 |  |  |  | - |  |  |  | - |
|  | 12/31/2023 |  | 120 Southeast Pkwy. Dr. |  | Franklin |  | TN |  | — |  | United Technologies |  |  | 289,330 |  |  |  | 736 |  |  |  | 736 |  |  |  | - |  |  |  | - |
2024 |  | 1/31/2024 |  | 1285 W. State Road 32 |  | Lebanon |  | IN |  | — |  | Continental Tire |  |  | 741,880 |  |  |  | 2,281 |  |  |  | 2,241 |  |  |  | - |  |  |  | - |
|  | 3/31/2024 |  | 1520 Lauderdale Memorial Hwy. |  | Cleveland |  | TN |  | — |  | General Electric |  |  | 851,370 |  |  |  | 2,568 |  |  |  | 2,614 |  |  |  | - |  |  |  | - |
|  | 4/30/2024 |  | 113 Wells St. |  | North Berwick |  | ME |  | — |  | United Technologies |  |  | 993,685 |  |  |  | 1,798 |  |  |  | 1,962 |  |  |  | 381 |  |  |  | 04/2019 |
|  | 5/31/2024 |  | 901 East Bingen Point Way |  | Bingen |  | WA |  | — |  | Boeing |  |  | 124,539 |  |  |  | 2,636 |  |  |  | 2,606 |  |  |  | - |  |  |  | - |
|  | 7/31/2024 |  | 5795 North Blackstock Road |  | Spartanburg |  | SC |  | — |  | Wal-Mart |  |  | 341,660 |  |  |  | 602 |  |  |  | 585 |  |  |  | - |  |  |  | - |
|  | 9/30/2024 |  | 1621 Veterans Memorial Pkwy. E |  | Lafayette |  | IN |  | — |  | Caterpillar |  |  | 309,400 |  |  |  | 1,215 |  |  |  | 1,204 |  |  |  | - |  |  |  | - |
|  | 10/31/2024 |  | 43955 Plymouth Oaks Blvd. |  | Plymouth |  | MI |  | — |  | Tower Automotive |  |  | 311,612 |  |  |  | 1,591 |  |  |  | 1,520 |  |  |  | - |  |  |  | - |
|  |  |  | 2115 East Belt Line Rd. |  | Carrollton |  | TX |  | — |  | L.E. Klein |  |  | 58,202 |  |  |  | 69 |  |  |  | 52 |  |  |  | - |  |  |  | - |
2025 |  | 6/30/2025 |  | 10000 Business Blvd. |  | Dry Ridge |  | KY |  | — |  | Dana |  |  | 336,350 |  |  |  | 1,346 |  |  |  | 1,346 |  |  |  | - |  |  |  | - |

32

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 12/31/2018

Year of Lease Expiration |  | Date of Lease Expiration |  | Property Location |  | City |  | State |  | Note |  | Primary Tenant or Guarantor (19) |  | Sq. Ft. Leased or Available (1) |  |  | GAAP Rent as of 12/31/2018 ($000) (3) |  |  | Cash Rent as of 12/31/2018 ($000) (2) |  |  | 12/31/2018 Debt Balance ($000) |  |  | Debt Maturity |
INDUSTRIAL PROPERTIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2025 |  | 6/30/2025 |  | 4010 Airpark Dr. |  | Owensboro |  | KY |  | — |  | Metalsa / Dana |  |  | 211,598 |  |  |  | 1,208 |  |  |  | 1,208 |  |  |  | - |  |  |  | - |
|  |  |  | 730 North Black Branch Rd. |  | Elizabethtown |  | KY |  | — |  | Metalsa / Dana |  |  | 167,770 |  |  |  | 537 |  |  |  | 537 |  |  |  | - |  |  |  | - |
|  |  |  | 750 North Black Branch Rd. |  | Elizabethtown |  | KY |  | — |  | Metalsa / Dana |  |  | 539,592 |  |  |  | 2,838 |  |  |  | 2,838 |  |  |  | - |  |  |  | - |
|  |  |  | 301 Bill Bryan Blvd. |  | Hopkinsville |  | KY |  | — |  | Metalsa / Dana |  |  | 424,904 |  |  |  | 1,688 |  |  |  | 1,687 |  |  |  | - |  |  |  | - |
|  | 7/14/2025 |  | 590 Ecology Ln. |  | Chester |  | SC |  | — |  | Boral Limited |  |  | 420,597 |  |  |  | 1,759 |  |  |  | 2,353 |  |  |  | 6,569 |  |  |  | 08/2025 |
|  | 7/31/2025 |  | 7005 Cochran Rd. |  | Glenwillow |  | OH |  | — |  | Royal Appliance |  |  | 458,000 |  |  |  | 2,061 |  |  |  | 2,101 |  |  |  | - |  |  |  | - |
|  | 12/31/2025 |  | 1700 47th Ave North |  | Minneapolis |  | MN |  | — |  | Owens Corning |  |  | 18,620 |  |  |  | 550 |  |  |  | 550 |  |  |  | - |  |  |  | - |
2026 |  | 3/30/2026 |  | 121 Technology Dr. |  | Durham |  | NH |  | 15 |  | Heidelberg |  |  | 500,500 |  |  |  | 2,537 |  |  |  | 2,479 |  |  |  | - |  |  |  | - |
|  | 3/31/2026 |  | 633 Garrett Pkwy. |  | Lewisburg |  | TN |  | — |  | Calsonic Kansei |  |  | 310,000 |  |  |  | 1,293 |  |  |  | 1,200 |  |  |  | - |  |  |  | - |
|  | 4/30/2026 |  | 16811 W. Commerce Dr. |  | Goodyear |  | AZ |  | — |  | Blue Buffalo |  |  | 540,349 |  |  |  | 294 |  |  |  | - |  |  |  | - |  |  |  | - |
|  | 6/30/2026 |  | 351 Chamber Dr. |  | Chillicothe |  | OH |  | — |  | Kitchen Collection |  |  | 475,218 |  |  |  | 1,159 |  |  |  | 1,141 |  |  |  | - |  |  |  | - |
|  | 9/30/2026 |  | 900 Industrial Blvd. |  | Crossville |  | TN |  | — |  | Dana |  |  | 222,200 |  |  |  | 578 |  |  |  | 578 |  |  |  | - |  |  |  | - |
|  |  |  | 3931 Lakeview Corporate Dr. |  | Edwardsville |  | IL |  | — |  | Amazon.com |  |  | 769,500 |  |  |  | 2,689 |  |  |  | 2,550 |  |  |  | - |  |  |  | - |
|  | 10/31/2026 |  | 5001 Greenwood Rd. |  | Shreveport |  | LA |  | — |  | Libbey |  |  | 646,000 |  |  |  | 2,165 |  |  |  | 2,200 |  |  |  | - |  |  |  | - |
|  | 11/30/2026 |  | 250 Rittenhouse Cir. |  | Bristol |  | PA |  | — |  | Estée Lauder |  |  | 241,977 |  |  |  | 1,146 |  |  |  | 1,159 |  |  |  | - |  |  |  | - |
|  |  |  | 736 Addison Rd. |  | Erwin |  | NY |  | — |  | Corning |  |  | 408,000 |  |  |  | 1,387 |  |  |  | 1,394 |  |  |  | - |  |  |  | - |
2027 |  | 1/31/2027 |  | 27200 West 157th St. |  | New Century |  | KS |  | — |  | Amazon.com |  |  | 446,500 |  |  |  | 1,240 |  |  |  | 1,069 |  |  |  | - |  |  |  | - |
|  | 2/28/2027 |  | 554 Nissan Pkwy. |  | Canton |  | MS |  | — |  | Nissan |  |  | 1,466,000 |  |  |  | 6,250 |  |  |  | 5,997 |  |  |  | - |  |  |  | - |
|  | 4/30/2027 |  | 16407 Applewhite Rd. |  | San Antonio |  | TX |  | 18 |  | Undisclosed / HVAC |  |  | 849,275 |  |  |  | 2,994 |  |  |  | 2,767 |  |  |  | - |  |  |  | - |
|  |  |  | 200 Sam Griffin Rd. |  | Smyrna |  | TN |  | — |  | Nissan |  |  | 1,505,000 |  |  |  | 6,560 |  |  |  | 6,251 |  |  |  | - |  |  |  | - |
|  | 6/30/2027 |  | 1501 Nolan Ryan Expy. |  | Arlington |  | TX |  | — |  | Arrow Electronics |  |  | 74,739 |  |  |  | 406 |  |  |  | 396 |  |  |  | - |  |  |  | - |
|  | 9/30/2027 |  | 1550 Hwy 302 |  | Byhalia |  | MS |  | — |  | McCormick |  |  | 615,600 |  |  |  | 2,460 |  |  |  | 1,806 |  |  |  | - |  |  |  | - |
|  | 10/31/2027 |  | 201 James Lawrence Rd. |  | Jackson |  | TN |  | — |  | Kellogg |  |  | 1,062,055 |  |  |  | 3,944 |  |  |  | 3,698 |  |  |  | - |  |  |  | - |
|  | 12/31/2027 |  | 10590 Hamilton Ave. |  | Cincinnati |  | OH |  | — |  | Hillman Group |  |  | 264,598 |  |  |  | 813 |  |  |  | 813 |  |  |  | - |  |  |  | - |
2028 |  | 1/31/2028 |  | 490 Westridge Pkwy. |  | McDonough |  | GA |  | — |  | Georgia-Pacific |  |  | 1,121,120 |  |  |  | 3,735 |  |  |  | 3,326 |  |  |  | - |  |  |  | - |
|  | 3/31/2028 |  | 29-01-Borden Ave./29-10 Hunters Point Ave. |  | Long Island City |  | NY |  | — |  | FedEx |  |  | 140,330 |  |  |  | 5,135 |  |  |  | 5,038 |  |  |  | 39,994 |  |  |  | 03/2028 |
|  | 8/31/2028 |  | 1420 Greenwood Rd. |  | McDonough |  | GA |  | — |  | United States Cold Storage |  |  | 296,972 |  |  |  | 2,170 |  |  |  | 2,138 |  |  |  | - |  |  |  | - |
|  | 9/30/2028 |  | 904 Industrial Rd. |  | Marshall |  | MI |  | — |  | Tenneco |  |  | 246,508 |  |  |  | 715 |  |  |  | 816 |  |  |  | - |  |  |  | - |
2029 |  | 7/31/2029 |  | 8500 Nail Rd. |  | Olive Branch |  | MS |  | — |  | Sephora |  |  | 716,080 |  |  |  | 1,995 |  |  |  | 1,498 |  |  |  | - |  |  |  | - |
|  | 11/24/2029 |  | 318 Pappy Dunn Blvd. |  | Anniston |  | AL |  | — |  | IAC Group |  |  | 276,782 |  |  |  | 1,740 |  |  |  | 1,646 |  |  |  | - |  |  |  | - |
2030 |  | 3/31/2030 |  | 549 Wingo Rd. |  | Byhalia |  | MS |  | — |  | Asics |  |  | 855,878 |  |  |  | 4,388 |  |  |  | 4,094 |  |  |  | - |  |  |  | - |
|  | 5/31/2030 |  | 3301 Stagecoach Rd. NE |  | Thomson |  | GA |  | — |  | Hollander |  |  | 208,000 |  |  |  | 930 |  |  |  | 869 |  |  |  | - |  |  |  | - |
|  |  |  | 4015 Lakeview Corporate Drive |  | Edwardsville |  | IL |  | — |  | Spectrum |  |  | 1,017,780 |  |  |  | 1,782 |  |  |  | 1,395 |  |  |  | - |  |  |  | - |

33

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 12/31/2018

Year of Lease Expiration |  | Date of Lease Expiration |  | Property Location |  | City |  | State |  | Note |  | Primary Tenant or Guarantor (19) |  | Sq. Ft. Leased or Available (1) |  |  | GAAP Rent as of 12/31/2018 ($000) (3) |  |  | Cash Rent as of 12/31/2018 ($000) (2) |  |  | 12/31/2018 Debt Balance ($000) |  |  | Debt Maturity |
INDUSTRIAL PROPERTIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2030 |  | 6/30/2030 |  | 2601 Bermuda Hundred Rd. |  | Chester |  | VA |  | — |  | Philip Morris |  |  | 1,034,470 |  |  |  | 213 |  |  |  | 203 |  |  |  | - |  |  |  | - |
2031 |  | 10/31/2031 |  | 1020 W. Airport Rd. |  | Romeoville |  | IL |  | — |  | ARYZTA |  |  | 188,166 |  |  |  | 3,594 |  |  |  | 3,386 |  |  |  | - |  |  |  | - |
|  | 12/18/2031 |  | 80 Tyson Dr. |  | Winchester |  | VA |  | 16 |  | Undisclosed / Automaker |  |  | 400,400 |  |  |  | 2,368 |  |  |  | 2,068 |  |  |  | - |  |  |  | - |
2032 |  | 4/30/2032 |  | 13930 Pike Rd. |  | Missouri City |  | TX |  | — |  | Vulcan |  |  | - |  |  |  | 2,123 |  |  |  | 1,956 |  |  |  | - |  |  |  | - |
|  | 8/24/2032 |  | 16950 Pine Dr. |  | Romulus |  | MI |  | 16 |  | Undisclosed / Automaker |  |  | 500,023 |  |  |  | 2,567 |  |  |  | 2,399 |  |  |  | - |  |  |  | - |
|  | 10/31/2032 |  | 27255 SW 95th Ave. |  | Wilsonville |  | OR |  | — |  | Pacific Natural Foods |  |  | 508,277 |  |  |  | 3,119 |  |  |  | 2,593 |  |  |  | - |  |  |  | - |
|  |  |  | 26700 Bunert Road |  | Warren |  | MI |  | — |  | Lipari |  |  | 260,243 |  |  |  | 3,883 |  |  |  | 3,439 |  |  |  | 25,850 |  |  |  | 11/2032 |
2033 |  | 12/31/2033 |  | 2115 East Belt Line Rd. |  | Carrollton |  | TX |  | — |  | Teasdale |  |  | 298,653 |  |  |  | 372 |  |  |  | 305 |  |  |  | - |  |  |  | - |
2034 |  | 9/30/2034 |  | 5625 North Sloan Ln. |  | North Las Vegas |  | NV |  | — |  | Nicholas |  |  | 180,235 |  |  |  | 2,557 |  |  |  | 2,282 |  |  |  | - |  |  |  | - |
|  | 10/31/2034 |  | 1001 Innovation Rd. |  | Rantoul |  | IL |  | — |  | Vista Outdoor |  |  | 813,126 |  |  |  | 4,195 |  |  |  | 3,700 |  |  |  | - |  |  |  | - |
2035 |  | 3/31/2035 |  | 13863 Industrial Rd. |  | Houston |  | TX |  | — |  | Spitzer |  |  | 187,800 |  |  |  | 2,435 |  |  |  | 2,116 |  |  |  | - |  |  |  | - |
|  |  |  | 7007 F.M. 362 Rd. |  | Brookshire |  | TX |  | — |  | Spitzer |  |  | 262,095 |  |  |  | 1,910 |  |  |  | 1,661 |  |  |  | - |  |  |  | - |
|  | 6/30/2035 |  | 111 West Oakview Pkwy. |  | Oak Creek |  | WI |  | — |  | Stella & Chewy's |  |  | 164,007 |  |  |  | 2,098 |  |  |  | 1,879 |  |  |  | - |  |  |  | - |
|  | 8/31/2035 |  | 2800 Polar Way |  | Richland |  | WA |  | 9 |  | Preferred Freezer |  |  | 456,412 |  |  |  | 13,133 |  |  |  | 11,303 |  |  |  | 110,000 |  |  |  | 01/2026 |
|  | 10/22/2035 |  | 2860 Clark St. |  | Detroit |  | MI |  | 16 |  | Undisclosed / Automaker |  |  | 189,960 |  |  |  | 2,203 |  |  |  | 2,203 |  |  |  | - |  |  |  | - |
2036 |  | 5/31/2036 |  | 671 Washburn Switch Rd. |  | Shelby |  | NC |  | — |  | Clearwater Paper |  |  | 673,425 |  |  |  | 2,786 |  |  |  | 2,438 |  |  |  | - |  |  |  | - |
|  | 6/30/2036 |  | 100 Ryobi Drive |  | Anderson |  | SC |  | 10, 21 |  | One World Technologies |  |  | 1,327,022 |  |  |  | 4,446 |  |  |  | 3,771 |  |  |  | - |  |  |  | - |
2037 |  | 3/31/2037 |  | 4005 E I-30 |  | Grand Prairie |  | TX |  | — |  | O'Neal Industries |  |  | 215,000 |  |  |  | 1,872 |  |  |  | 1,561 |  |  |  | - |  |  |  | - |
2038 |  | 3/31/2038 |  | 13901/14035 Industrial Rd. |  | Houston |  | TX |  | — |  | Watco |  |  | 132,449 |  |  |  | 6,773 |  |  |  | 5,808 |  |  |  | - |  |  |  | - |
2042 |  | 5/31/2042 |  | 4801 North Park Dr. |  | Opelika |  | AL |  | — |  | Golden State Enterprises |  |  | 165,493 |  |  |  | 3,187 |  |  |  | 2,495 |  |  |  | - |  |  |  | - |
N/A |  | Vacancy |  | 3350 Miac Cove Rd. |  | Memphis |  | TN |  | — |  | (Available for Lease) |  |  | 32,679 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
SINGLE TENANT INDUSTRIAL TOTAL |  |  |  |  |  |  | 39,274,155 |  |  | $ | 182,074 |  |  | $ | 170,390 |  |  | $ | 206,006 |  |  |  |  |
Multi-tenant / Vacancy (8)(14) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Various |  | 6050 Dana Way |  | Antioch |  | TN |  | 4 (97%) |  | Multi-Tenant |  |  | 674,528 |  |  |  | 2,305 |  |  |  | 2,277 |  |  |  | - |  |  |  | - |
|  | Vacancy |  | 50 Tyger River Dr. |  | Duncan |  | SC |  | 11 |  | (Available for Lease) |  |  | 221,833 |  |  |  | 769 |  |  |  | 769 |  |  |  | - |  |  |  | - |
|  | Vacancy |  | 3456 Meyers Ave. |  | Memphis |  | TN |  | 11 |  | (Available for Lease) |  |  | 780,000 |  |  |  | 1,031 |  |  |  | 504 |  |  |  | - |  |  |  | - |
|  | Vacancy |  | 2935 Van Vactor Dr. |  | Plymouth |  | IN |  | 11 |  | (Available for Lease) |  |  | 300,500 |  |  |  | 856 |  |  |  | 856 |  |  |  | - |  |  |  | - |
|  | Vacancy |  | 1133 Poplar Creek Rd. |  | Henderson |  | NC |  | 11 |  | (Available for Lease) |  |  | 196,946 |  |  |  | 869 |  |  |  | 886 |  |  |  | - |  |  |  | - |
MULTI-TENANT/VACANCY INDUSTRIAL TOTAL |  |  |  |  |  |  | 2,173,807 |  |  | $ | 5,830 |  |  | $ | 5,292 |  |  | $ | - |  |  |  |  |
INDUSTRIAL TOTAL/WEIGHTED AVERAGE |  |  |  | 96.3% Leased |  |  | 41,447,962 |  |  | $ | 187,904 |  |  | $ | 175,682 |  |  | $ | 206,006 |  |  |  |  |

34

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 12/31/2018

Year of Lease Expiration |  | Date of Lease Expiration |  | Property Location |  | City |  | State |  | Note |  | Primary Tenant or Guarantor (19) |  | Sq.Ft. Leased or Available (1) |  |  | GAAP Rent as of 12/31/2018 ($000) (3) |  |  | Cash Rent as of 12/31/2018 ($000) (2) |  |  | 12/31/2018 Debt Balance ($000) |  |  | Debt Maturity |
OFFICE PROPERTIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-tenant |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2019 |  | 1/31/2019 |  | 820 Gears Rd. |  | Houston |  | TX |  | — |  | Ricoh |  |  | 78,895 |  |  |  | 1,181 |  |  |  | 1,180 |  |  |  | - |  |  |  | - |
|  | 4/1/2019 |  | 9201 Stateline Rd. |  | Kansas City |  | MO |  | — |  | Swiss Re |  |  | 155,925 |  |  |  | 2,558 |  |  |  | 2,558 |  |  |  | 15,272 |  |  |  | 05/2019 |
|  | 5/31/2019 |  | 10475 Crosspoint Blvd. |  | Indianapolis |  | IN |  | — |  | DMC Insurance |  |  | 3,764 |  |  |  | 72 |  |  |  | 72 |  |  |  | - |  |  |  | - |
|  | 10/31/2019 |  | 10475 Crosspoint Blvd. |  | Indianapolis |  | IN |  | — |  | John Wiley |  |  | 123,047 |  |  |  | 2,269 |  |  |  | 2,350 |  |  |  | - |  |  |  | - |
|  |  |  | 9601 Renner Blvd. |  | Lenexa |  | KS |  | — |  | T-Mobile USA |  |  | 77,484 |  |  |  | 1,142 |  |  |  | 1,522 |  |  |  | 8,153 |  |  |  | 12/2019
|  | 12/31/2019 |  | 2800 Waterford Lake Dr. |  | Midlothian |  | VA |  | 10 |  | Alstom Power |  |  | 99,057 |  |  |  | 2,184 |  |  |  | 2,359 |  |  |  | - |  |  |  | - |
2020 |  | 2/14/2020 |  | 5600 Broken Sound Blvd. |  | Boca Raton |  | FL |  | — |  | Oce - USA Holding |  |  | 143,290 |  |  |  | 2,244 |  |  |  | 2,500 |  |  |  | 18,785 |  |  |  | 02/2020 |
|  | 6/30/2020 |  | 3711 San Gabriel |  | Mission |  | TX |  | — |  | T-Mobile West |  |  | 75,016 |  |  |  | 989 |  |  |  | 997 |  |  |  | - |  |  |  | - |
|  | 8/31/2020 |  | 133 First Park Dr. |  | Oakland |  | ME |  | — |  | T-Mobile USA |  |  | 78,610 |  |  |  | 1,147 |  |  |  | 1,512 |  |  |  | 8,138 |  |  |  | 10/2020 |
2021 |  | 1/31/2021 |  | 1701 Market St. |  | Philadelphia |  | PA |  | — |  | Morgan Lewis |  |  | 289,432 |  |  |  | 4,299 |  |  |  | 4,505 |  |  |  | - |  |  |  | - |
|  | 3/31/2021 |  | 1701 Market St. |  | Philadelphia |  | PA |  | — |  | Prime Communications |  |  | 1,220 |  |  |  | 62 |  |  |  | 62 |  |  |  | - |  |  |  | - |
|  | 6/30/2021 |  | 1415 Wyckoff Rd. |  | Wall |  | NJ |  | — |  | NJ Natural Gas |  |  | 157,511 |  |  |  | 3,774 |  |  |  | 3,774 |  |  |  | 8,847 |  |  |  | 01/2021 |
|  |  |  | 2050 Roanoke Rd. |  | Westlake |  | TX |  | — |  | Charles Schwab |  |  | 130,199 |  |  |  | 2,069 |  |  |  | 2,134 |  |  |  | - |  |  |  | - |
|  | 8/31/2021 |  | 3500 North Loop Rd. |  | McDonough |  | GA |  | 11 |  | TSYS |  |  | 62,218 |  |  |  | 958 |  |  |  | 1,211 |  |  |  | - |  |  |  | - |
|  | 10/31/2021 |  | 1401 Nolan Ryan Expy. |  | Arlington |  | TX |  | — |  | Butler America Aerospace |  |  | 4,979 |  |  |  | 14 |  |  |  | 14 |  |  |  | - |  |  |  | - |
|  | 11/30/2021 |  | 29 South Jefferson Rd. |  | Whippany |  | NJ |  | — |  | CAE |  |  | 123,734 |  |  |  | 2,332 |  |  |  | 2,555 |  |  |  | 12,156 |  |  |  | 11/2021 |
2022 |  | 5/30/2022 |  | 13651 McLearen Rd. |  | Herndon |  | VA |  | — |  | United States of America |  |  | 159,644 |  |  |  | 3,135 |  |  |  | 3,220 |  |  |  | - |  |  |  | - |
|  | 7/31/2022 |  | 1440 E 15th St. |  | Tucson |  | AZ |  | — |  | CoxCom |  |  | 28,591 |  |  |  | 561 |  |  |  | 561 |  |  |  | - |  |  |  | - |
|  | 10/31/2022 |  | 4455 American Way |  | Baton Rouge |  | LA |  | — |  | New Cingular Wireless |  |  | 70,100 |  |  |  | 1,165 |  |  |  | 1,125 |  |  |  | - |  |  |  | - |
2023 |  | 9/30/2023 |  | 1701 Market St. |  | Philadelphia |  | PA |  | — |  | CBC Restaurant |  |  | 8,070 |  |  |  | 219 |  |  |  | 229 |  |  |  | - |  |  |  | - |
|  | 10/31/2023 |  | 3943 Denny Ave. |  | Pascagoula |  | MS |  | — |  | Huntington Ingalls |  |  | 94,841 |  |  |  | 593 |  |  |  | 593 |  |  |  | - |  |  |  | - |
|  | 12/14/2023 |  | 3333 Coyote Hill Rd. |  | Palo Alto |  | CA |  | — |  | Xerox |  |  | 202,000 |  |  |  | 6,642 |  |  |  | 7,070 |  |  |  | 32,188 |  |  |  | 12/2023 |
2024 |  | 2/14/2024 |  | 1362 Celebration Blvd. |  | Florence |  | SC |  | — |  | MED3000 |  |  | 32,000 |  |  |  | 573 |  |  |  | 576 |  |  |  | - |  |  |  | - |
|  | 5/31/2024 |  | 3476 Stateview Blvd. |  | Fort Mill |  | SC |  | — |  | Wells Fargo |  |  | 169,083 |  |  |  | 1,960 |  |  |  | 1,914 |  |  |  | - |  |  |  | - |

35

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 12/31/2018

Year of Lease Expiration |  | Date of Lease Expiration |  | Property Location |  | City |  | State |  | Note |  | Primary Tenant or Guarantor (19) |  | Sq.Ft. Leased or Available (1) |  |  | GAAP Rent as of 12/31/2018 ($000) (3) |  |  | Cash Rent as of 12/31/2018 ($000) (2) |  |  | 12/31/2018 Debt Balance ($000) |  |  | Debt Maturity |
OFFICE PROPERTIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 |  | 5/31/2024 |  | 3480 Stateview Blvd. |  | Fort Mill |  | SC |  | — |  | Wells Fargo |  |  | 169,218 |  |  |  | 2,036 |  |  |  | 1,916 |  |  |  | - |  |  |  | - |
|  | 7/15/2024 |  | 19019 North 59th Ave. |  | Glendale |  | AZ |  | — |  | Honeywell |  |  | 252,300 |  |  |  | 1,994 |  |  |  | 1,993 |  |  |  | - |  |  |  | - |
|  | 7/31/2024 |  | 500 Jackson St. |  | Columbus |  | IN |  | — |  | Cummins |  |  | 390,100 |  |  |  | 4,637 |  |  |  | 4,762 |  |  |  | 7,301 |  |  |  | 07/2019 |
|  | 8/31/2024 |  | 10475 Crosspoint Blvd. |  | Indianapolis |  | IN |  | — |  | HQ Global Workplaces |  |  | 14,236 |  |  |  | 309 |  |  |  | 309 |  |  |  | - |  |  |  | - |
2025 |  | 1/31/2025 |  | 1401 Nolan Ryan Expy. |  | Arlington |  | TX |  | — |  | Triumph Group |  |  | 111,409 |  |  |  | 1,641 |  |  |  | 1,751 |  |  |  | - |  |  |  | - |
|  | 2/28/2025 |  | 1401 Nolan Ryan Expy. |  | Arlington |  | TX |  | — |  | Infotech Enterprise |  |  | 13,590 |  |  |  | 204 |  |  |  | 211 |  |  |  | - |  |  |  | - |
|  | 5/31/2025 |  | 1701 Market St. |  | Philadelphia |  | PA |  | — |  | TruMark Financial |  |  | 2,641 |  |  |  | 253 |  |  |  | 253 |  |  |  | - |  |  |  | - |
2026 |  | 6/30/2026 |  | 3265 East Goldstone Dr. |  | Meridian |  | ID |  | — |  | T-Mobile USA |  |  | 77,484 |  |  |  | 1,109 |  |  |  | 1,495 |  |  |  | - |  |  |  | - |
2027 |  | 1/31/2027 |  | 1701 Market St. |  | Philadelphia |  | PA |  | — |  | Drybar |  |  | 1,975 |  |  |  | 142 |  |  |  | 107 |  |  |  | - |  |  |  | - |
|  | 5/31/2027 |  | 2401 Cherahala Blvd. |  | Knoxville |  | TN |  | — |  | CaremarkPCS |  |  | 59,748 |  |  |  | 776 |  |  |  | 785 |  |  |  | - |  |  |  | - |
|  | 10/31/2027 |  | 11201 Renner Blvd. |  | Lenexa |  | KS |  | — |  | United States of America |  |  | 169,585 |  |  |  | 4,904 |  |  |  | 4,819 |  |  |  | 31,698 |  |  |  | 11/2027 |
2029 |  | 3/31/2029 |  | 2800 High Meadow Cir. |  | Auburn Hills |  | MI |  | — |  | Faurecia |  |  | 278,000 |  |  |  | 3,547 |  |  |  | 3,285 |  |  |  | - |  |  |  | - |
|  | 7/31/2029 |  | 2999 Southwest 6th St. |  | Redmond |  | OR |  | 12 |  | T-Mobile USA / Consumer Cellular |  |  | 77,260 |  |  |  | 1,469 |  |  |  | 1,783 |  |  |  | - |  |  |  | - |
|  | 9/30/2029 |  | 9200 South Park Center Loop |  | Orlando |  | FL |  | 11 |  | CardWorks |  |  | 59,927 |  |  |  | 978 |  |  |  | 994 |  |  |  | - |  |  |  | - |
2033 |  | 12/31/2033 |  | 8555 South River Pkwy. |  | Tempe |  | AZ |  | — |  | Versum |  |  | 95,133 |  |  |  | 1,778 |  |  |  | 982 |  |  |  | - |  |  |  | - |
2036 |  | 10/31/2036 |  | 270 Abner Jackson Pkwy. |  | Lake Jackson |  | TX |  | — |  | Dow |  |  | 664,100 |  |  |  | 14,850 |  |  |  | 12,414 |  |  |  | 187,980 |  |  |  | 10/2036 |
N/A |  | N/A |  | 1701 Market St. |  | Philadelphia |  | PA |  | — |  | Parking Operations |  |  | - |  |  |  | 2,010 |  |  |  | 2,010 |  |  |  | - |  |  |  | - |
|  | Vacancy |  | 1701 Market St. |  | Philadelphia |  | PA |  | — |  | (Available for Lease) |  |  | 699 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  |  |  | 1401 Nolan Ryan Expy. |  | Arlington |  | TX |  | — |  | (Available for Lease) |  |  | 31,830 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
SINGLE TENANT OFFICE TOTAL |  |  |  |  |  |  | 4,837,945 |  |  | $ | 84,779 |  |  | $ | 84,462 |  |  | $ | 330,518 |  |  |  |  |
Multi-tenant / Vacancy (8)(14) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Vacancy |  | 5200 Metcalf Ave. |  | Overland Park |  | KS |  | 11 |  | (Available for Lease) |  |  | 320,198 |  |  |  | 5,419 |  |  |  | 5,401 |  |  |  | 32,112 |  |  |  | 05/2019 |
|  | Various |  | 11511 Luna Rd. |  | Farmers Branch |  | TX |  | 4 (92%) |  | IBM |  |  | 181,072 |  |  |  | 2,503 |  |  |  | 1,608 |  |  |  | - |  |  |  | - |
|  | Various |  | 1311 Broadfield Blvd. |  | Houston |  | TX |  | 4 (49%) |  | Saipem |  |  | 155,407 |  |  |  | 710 |  |  |  | 557 |  |  |  | - |  |  |  | - |
|  | Various |  | 13430 North Black Canyon Fwy. |  | Phoenix |  | AZ |  | 4 (85%) |  | Multi-Tenant |  |  | 138,940 |  |  |  | 947 |  |  |  | 1,225 |  |  |  | - |  |  |  | - |
|  | Various |  | 1460 Tobias Gadson Blvd. |  | Charleston |  | SC |  | 4 (64%) |  | Vallen Distribution |  |  | 50,246 |  |  |  | 460 |  |  |  | 459 |  |  |  | 6,878 |  |  |  | 02/2021 |
MULTI-TENANT/VACANCY OFFICE TOTAL |  |  |  |  |  |  | 845,863 |  |  | $ | 10,039 |  |  | $ | 9,250 |  |  | $ | 38,990 |  |  |  |  |
OFFICE TOTAL/WEIGHTED AVERAGE |  |  |  | 91.4% Leased |  |  | 5,683,808 |  |  | $ | 94,818 |  |  | $ | 93,712 |  |  | $ | 369,508 |  |  |  |  |

36

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 12/31/2018

Year of Lease Expiration |  | Date of Lease Expiration |  | Property Location |  | City |  | State |  | Note |  | Primary Tenant or Guarantor (19) |  | Sq.Ft. Leased or Available (1) |  |  | GAAP Rent as of 12/31/2018 ($000) (3) |  |  | Cash Rent as of 12/31/2018 ($000) (2) |  |  | 12/31/2018 Debt Balance ($000) |  |  | Debt Maturity |
OTHER PROPERTIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-tenant |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retail |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | 7/1/2023 |  | 1053 Mineral Springs Rd. |  | Paris |  | TN |  | — |  | Kroger |  |  | 31,170 |  |  |  | 159 |  |  |  | 159 |  |  |  | - |  |  |  | - |
2024 |  | 3/31/2024 |  | B.E.C. 45th St./Lee Blvd. |  | Lawton |  | OK |  | — |  | Safeway |  |  | 30,757 |  |  |  | 190 |  |  |  | 185 |  |  |  | - |  |  |  | - |
Specialty |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2029 |  | 1/31/2029 |  | 175 Holt Garrison Pkwy. |  | Danville |  | VA |  | — |  | Home Depot |  |  | - |  |  |  | 216 |  |  |  | 260 |  |  |  | - |  |  |  | - |
2048 |  | 12/31/2048 |  | 30 Light St. |  | Baltimore |  | MD |  | — |  | 30 Charm City |  |  | - |  |  |  | 299 |  |  |  | 299 |  |  |  | - |  |  |  | - |
2055 |  | 1/31/2055 |  | 499 Derbyshire Dr. |  | Venice |  | FL |  | — |  | Littlestone Brotherhood |  |  | 31,180 |  |  |  | 1,908 |  |  |  | 1,339 |  |  |  | - |  |  |  | - |
2067 |  | 12/31/2067 |  | 10201 Schuster Way |  | Pataskala |  | OH |  | — |  | Kohl's |  |  | - |  |  |  | 57 |  |  |  | 26 |  |  |  | - |  |  |  | - |
2112 |  | 8/31/2112 |  | 201-215 N. Charles St. |  | Baltimore |  | MD |  | — |  | 201 NC Leasehold |  |  | - |  |  |  | 283 |  |  |  | 283 |  |  |  | - |  |  |  | - |
SINGLE TENANT OTHER TOTAL |  |  |  |  |  |  | 93,107 |  |  | $ | 3,112 |  |  | $ | 2,551 |  |  | $ | - |  |  |  |  |
Multi-tenant / Vacancy (8)(14) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Vacancy |  | 21082 Pioneer Plaza Dr. |  | Watertown |  | NY |  | 11, 17 |  | (Available for Lease) |  |  | 120,727 |  |  |  | 1,354 |  |  |  | 112 |  |  |  | - |  |  |  | - |
|  | Vacancy |  | 97 Seneca Trail |  | Fairlea |  | WV |  | 11 |  | (Available for Lease) |  |  | 90,933 |  |  |  | 297 |  |  |  | 79 |  |  |  | - |  |  |  | - |
|  | Vacancy |  | 832 N. Westover Blvd . |  | Albany |  | GA |  | — |  | (Available for Lease) |  |  | 45,554 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  | Various |  | King St./1042 Fort St. Mall |  | Honolulu |  | HI |  | 4 (46%) |  | Multi-Tenant |  |  | 77,459 |  |  |  | 671 |  |  |  | 671 |  |  |  | - |  |  |  | - |
MULTI-TENANT/VACANCY OTHER TOTAL |  |  |  |  |  |  | 334,673 |  |  | $ | 2,322 |  |  | $ | 862 |  |  | $ | - |  |  |  |  |
OTHER TOTAL/WEIGHTED AVERAGE |  |  |  | 30.0% Leased |  |  | 427,780 |  |  | $ | 5,434 |  |  | $ | 3,413 |  |  | $ | - |  |  |  |  |
TOTAL CONSOLIDATED PORTFOLIO/WEIGHTED AVERAGE |  |  |  | 95.1% Leased |  |  | 47,559,550 |  |  | $ | 288,156 |  |  | $ | 272,807 |  |  | $ | 575,514 |  |  |  |  |

37

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Non-consolidated Portfolio - 12/31/2018

Year of Lease Expiration |  | Date of Lease Expiration |  | Property Location |  | City |  | State |  | Note |  | Primary Tenant or Guarantor (19) |  | Sq.Ft. Leased or Available (1) |  |  | LXP % Ownership |  |  | GAAP Rent as of 12/31/2018 ($000) (3) |  |  | Cash Rent as of 12/31/2018 ($000) (2) |  |  | 12/31/2018 Debt Balance ($000) |  |  | Debt Maturity (13) |
NON-CONSOLIDATED PROPERTIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
NNN OFFICE JV PROPERTIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2022 |  | 12/31/2022 |  | 231 N. Martingale Rd. |  | Schaumburg |  | IL |  | 7 |  | Career Education Corporation |  |  | 317,198 |  |  |  | 20 | % |  |  | 1,545 |  |  |  | 1,537 |  |  |  | 362,800 |  |  |  | 09/2021 |
2023 |  | 2/28/2023 |  | 1315 West Century Dr. |  | Louisville |  | CO |  | 7 |  | Rogue Wave Software |  |  | 20,000 |  |  |  | 20 | % |  |  | 104 |  |  |  | 104 |  |  |  | - |  |  |  | - |
|  | 3/31/2023 |  | 8900 Freeport Pkwy. |  | Irving |  | TX |  | 7 |  | Nissan |  |  | 268,445 |  |  |  | 20 | % |  |  | 1,407 |  |  |  | 1,271 |  |  |  | - |  |  |  | - |
2025 |  | 2/28/2025 |  | 6555 Sierra Dr. |  | Irving |  | TX |  | 7 |  | TXU |  |  | 247,254 |  |  |  | 20 | % |  |  | 1,277 |  |  |  | 1,058 |  |  |  | - |  |  |  | - |
|  | 3/14/2025 |  | 601 & 701 Experian Pkwy. |  | Allen |  | TX |  | 7 |  | Experian Holdings |  |  | 292,700 |  |  |  | 20 | % |  |  | 1,088 |  |  |  | 1,033 |  |  |  | - |  |  |  | - |
|  | 6/30/2025 |  | 2500 Patrick Henry Pkwy. |  | McDonough |  | GA |  | 7 |  | Georgia Power |  |  | 111,911 |  |  |  | 20 | % |  |  | 547 |  |  |  | 469 |  |  |  | - |  |  |  | - |
|  | 9/30/2025 |  | 10001 Richmond Ave. |  | Houston |  | TX |  | 7 |  | Schlumberger |  |  | 554,385 |  |  |  | 20 | % |  |  | 2,114 |  |  |  | 1,919 |  |  |  | - |  |  |  | - |
|  | 12/31/2025 |  | 4001 International Pkwy. |  | Carrollton |  | TX |  | 7 |  | Motel 6 |  |  | 138,443 |  |  |  | 20 | % |  |  | 851 |  |  |  | 759 |  |  |  | - |  |  |  | - |
2026 |  | 3/31/2026 |  | 500 Olde Worthington Rd. |  | Westerville |  | OH |  | 7 |  | Syneos |  |  | 97,000 |  |  |  | 20 | % |  |  | 451 |  |  |  | 397 |  |  |  | - |  |  |  | - |
|  | 4/30/2026 |  | 800 East Canal St. |  | Richmond |  | VA |  | 5 |  | Richmond Belly Ventures |  |  | 2,568 |  |  |  | 20 | % |  |  | 21 |  |  |  | 21 |  |  |  | - |  |  |  | - |
|  | 11/30/2026 |  | 500 Kinetic Dr. |  | Huntington |  | WV |  | 7 |  | Amazon.com |  |  | 68,693 |  |  |  | 20 | % |  |  | 416 |  |  |  | 383 |  |  |  | - |  |  |  | - |
2027 |  | 2/28/2027 |  | 800 East Canal St. |  | Richmond |  | VA |  | 5 |  | Sumitomo |  |  | 8,503 |  |  |  | 20 | % |  |  | 51 |  |  |  | 37 |  |  |  | - |  |  |  | - |
|  | 4/30/2027 |  | 1315 West Century Dr. |  | Louisville |  | CO |  | 7 |  | GHX Ultimate Parent |  |  | 86,877 |  |  |  | 20 | % |  |  | 501 |  |  |  | 422 |  |  |  | - |  |  |  | - |
|  | 6/30/2027 |  | 3902 Gene Field Rd. |  | St. Joseph |  | MO |  | 7 |  | Boehringer Ingelheim USA |  |  | 98,849 |  |  |  | 20 | % |  |  | 711 |  |  |  | 652 |  |  |  | - |  |  |  | - |
|  | 7/6/2027 |  | 2221 Schrock Rd. |  | Columbus |  | OH |  | 7 |  | MS Consultants |  |  | 42,290 |  |  |  | 20 | % |  |  | 230 |  |  |  | 212 |  |  |  | - |  |  |  | - |
|  | 8/7/2027 |  | 25 Lakeview Dr. |  | Jessup |  | PA |  | 7 |  | TMG Health |  |  | 150,000 |  |  |  | 20 | % |  |  | 783 |  |  |  | 723 |  |  |  | - |  |  |  | - |
2028 |  | 4/30/2028 |  | 9655 Maroon Cir. |  | Englewood |  | CO |  | 7 |  | TriZetto |  |  | 166,912 |  |  |  | 20 | % |  |  | 1,440 |  |  |  | 1,297 |  |  |  | - |  |  |  | - |
2029 |  | 1/31/2029 |  | 6226 West Sahara Ave. |  | Las Vegas |  | NV |  | 7 |  | Nevada Power |  |  | 282,000 |  |  |  | 20 | % |  |  | 1,166 |  |  |  | 1,038 |  |  |  | - |  |  |  | - |
2030 |  | 8/31/2030 |  | 800 East Canal St. |  | Richmond |  | VA |  | — |  | McGuireWoods |  |  | 224,537 |  |  |  | 20 | % |  |  | 1,828 |  |  |  | 1,820 |  |  |  | 57,500 |  |  |  | 02/2031 |
|  | 9/30/2030 |  | 800 East Canal St. |  | Richmond |  | VA |  | 5 |  | The Riverstone Group |  |  | 25,707 |  |  |  | 20 | % |  |  | 200 |  |  |  | 172 |  |  |  | - |  |  |  | - |
2031 |  | 1/10/2031 |  | 810 Gears Rd. |  | Houston |  | TX |  | 7 |  | United States of America |  |  | 68,985 |  |  |  | 20 | % |  |  | 404 |  |  |  | 479 |  |  |  | - |  |  |  | - |
|  | 3/1/2031 |  | 800 East Canal St. |  | Richmond |  | VA |  | 5 |  | Towne Bank |  |  | 26,047 |  |  |  | 20 | % |  |  | 220 |  |  |  | 182 |  |  |  | - |  |  |  | - |
|  | 12/31/2031 |  | 333 Mt. Hope Ave. |  | Rockaway |  | NJ |  | 7 |  | Atlantic Health |  |  | 92,326 |  |  |  | 20 | % |  |  | 610 |  |  |  | 442 |  |  |  | - |  |  |  | - |
2032 |  | 4/30/2032 |  | 1210 AvidXchange Ln. |  | Charlotte |  | NC |  | — |  | AvidXchange |  |  | 201,450 |  |  |  | 20 | % |  |  | 2,025 |  |  |  | 1,769 |  |  |  | 45,900 |  |  |  | 12/2022; 01/2033 |
|  | 10/31/2032 |  | 143 Diamond Ave. |  | Parachute |  | CO |  | 7 |  | Alenco |  |  | 49,024 |  |  |  | 20 | % |  |  | 373 |  |  |  | 382 |  |  |  | - |  |  |  | - |
2033 |  | 3/31/2033 |  | 9201 East Dry Creek Rd. |  | Centennial |  | CO |  | 7 |  | Arrow Electronics |  |  | 128,500 |  |  |  | 20 | % |  |  | 962 |  |  |  | 799 |  |  |  | - |  |  |  | - |
2088 |  | 8/8/2088 |  | 800 East Canal St. |  | Richmond |  | VA |  | 5 |  | The City of Richmond, Virginia |  |  | - |  |  |  | 20 | % |  |  | 92 |  |  |  | 107 |  |  |  | - |  |  |  | - |
N/A |  | Vacancy |  | 810 Gears Rd. |  | Houston |  | TX |  | 7 |  | (Available for Lease) |  |  | 9,910 |  |  |  | 20 | % |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  |  |  | 800 East Canal St. |  | Richmond |  | VA |  | 5 |  | (Available for Lease) |  |  | 42,947 |  |  |  | 20 | % |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
NNN OFFICE JV TOTAL/WEIGHTED AVERAGE |  |  |  | 98.6% Leased |  |  | 3,823,461 |  |  |  |  |  |  | $ | 21,417 |  |  | $ | 19,484 |  |  | $ | 466,200 |  |  |  |  |

38

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Non-consolidated Portfolio - 12/31/2018

Year of Lease Expiration |  | Date of Lease Expiration |  | Property Location |  | City |  | State |  | Note |  | Primary Tenant or Guarantor (19) |  | Sq.Ft. Leased or Available (1) |  |  | LXP % Ownership |  |  | GAAP Rent as of 12/31/2018 ($000) (3) |  |  | Cash Rent as of 12/31/2018 ($000) (2) |  |  | 12/31/2018 Debt Balance ($000) |  |  | Debt Maturity (13) |
OTHER NON-CONSOLIDATED PROPERTIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2029 |  | 1/31/2029 |  | 18839 McKay Blvd. |  | Humble |  | TX |  | 21 |  | RehabCare Group |  |  | 55,646 |  |  |  | 15 | % |  |  | 2,733 |  |  |  | 2,570 |  |  |  | 13,644 |  |  |  | 05/2019 |
2036 |  | 8/31/2036 |  | 2203 North Westgreen Blvd. |  | Katy |  | TX |  | — |  | British Schools |  |  | 274,000 |  |  |  | 25 | % |  |  | 6,483 |  |  |  | 6,483 |  |  |  | 53,024 |  |  |  | 12/2022 |
OTHER NON-CONSOLIDATED TOTAL/WEIGHTED AVERAGE |  |  |  | 100% Leased |  |  | 329,646 |  |  |  |  |  |  | $ | 9,216 |  |  | $ | 9,053 |  |  | $ | 66,668 |  |  |  |  |
NON-CONSOLIDATED TOTAL/WEIGHTED AVERAGE |  |  |  | 98.7% Leased |  |  | 4,153,107 |  |  |  |  |  |  | $ | 30,633 |  |  | $ | 28,537 |  |  | $ | 532,868 |  |  |  |  |

Footnotes

| 1 | Square footage leased or available.

| 2 | Twelve months ended 12/31/2018 cash rent. See definitions of non-GAAP measures and reconciliations to applicable GAAP measures in this document.

| 3 | Twelve months ended 12/31/2018 GAAP rent, excluding termination income.

| 4 | Percent represents % leased as of 12/31/2018.

| 5 | Part of Richmond, Virginia property, which is primarily leased to McGuireWoods LLP.

| 6 | Lexington has a 71.1% interest in this property.

| 7 | All debt is cross-collateralized and cross-defaulted.

| 8 | Multi-tenant properties are properties less than 50% leased to a single tenant.

| 9 | ConAgra Foods, Inc. provides credit support.

| 10 | Property held for sale at 12/31/2018.

| 11 | Cash and GAAP rent amounts represent/include prior tenant.

| 12 | T-Mobile USA lease expires 1/31/2019; however, new tenant (Consumer Cellular Incorporated) lease expires 7/31/2029.

| 13 | Interest rates range from 0.25% to 5.4% at 12/31/2018.

| 14 | The multi-tenanted / vacant properties incurred approximately $3.5 million in operating expenses, net for the twelve months ended 12/31/2018.

| 15 | Heidelberg Americas, Inc. lease expires 3/30/2021; however, new tenant (Goss International Americas, Inc.) lease expires 3/30/2026.

| 16 | Tenant is a domestic subsidiary of an international automaker.

| 17 | GAAP rent includes the acceleration of below-market lease intangible accretion.

| 18 | Lease restricts certain disclosures. Guarantor is investment grade.

| 19 | See Annual Report and other applicable disclosures for actual tenant names.

| 20 | Subsequent to 12/31/2018, lease extended to 12/31/2024.

| 21 | Property sold subsequent to 12/31/2018.

| 22 | Subsequent to 12/31/2018, lease extended to 12/31/2021.

39

LEXINGTON REALTY TRUST

Select Credit Metrics Summary (1)

|  | 12/31/2018 |
Adjusted Company FFO Payout Ratio |  |  | 74.0 | %
Unencumbered Assets |  |  | $2.8 billion |
Unencumbered NOI |  |  | 71.5 | %
(Debt + Preferred) / Gross Assets |  |  | 40.3 | %
Debt/Gross Assets |  |  | 37.8 | %
Secured Debt / Gross Assets |  |  | 14.5 | %
Net Debt / Adjusted EBITDA |  |  | 4.7 | x
(Net Debt + Preferred) / Adjusted EBITDA |  |  | 5.0 | x
Credit Facilities Availability (2) |  |  | $505.0 million |
Unsecured Debt / Unencumbered NOI |  |  | 4.9 | x

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) | Subject to covenant compliance.

40

LEXINGTON REALTY TRUST

FINANCIAL COVENANTS (1)

Corporate Level Debt

|  | Must be: |  |  | 12/31/2018 |
Bank Loans: |  |  |  |  |  |  |  |
Maximum Leverage |  |  | < 60 | % |  |  | 42.0 | %
Fixed Charge Coverage |  |  | > 1.5 | x |  |  | 2.5 | x
Recourse Secured Indebtedness Ratio |  |  | < 10% cap value |  |  |  | 0.0 | %
Secured Indebtedness Ratio |  |  | < 45 | % |  |  | 19.5 | %
Unsecured Debt Service Coverage |  |  | > 2.0 | x |  |  | 5.0 | x
Unencumbered Leverage |  |  | < 60 | % |  |  | 29.0 | %
Bonds: |  |  |  |  |  |  |  |
Debt to Total Assets |  |  | < 60 | % |  |  | 38.6 | %
Secured Debt to Total Assets |  |  | < 40 | % |  |  | 14.8 | %
Debt Service Coverage |  |  | > 1.5 | x |  |  | 3.9 | x
Unencumbered Assets to Unsecured Debt |  |  | > 150 | % |  |  | 326.6 | %

Footnotes

| (1) | The following is a summary of the key financial covenants for Lexington's credit facility and term loan and senior notes, as of December 31, 2018 and as defined and calculated per the terms of the credit facility and term loan and senior notes, as of such date and applicable. These calculations are presented to show Lexington's compliance with such covenants only and are not measures of Lexington's liquidity or performance.

41

LEXINGTON REALTY TRUST

Consolidated Properties: Mortgages and Notes Payable

12/31/2018

Property |  | Footnotes |  | Debt Balance ($000) |  |  | Interest Rate (%) |  |  | Maturity (a) |  | Current Estimated Annual Debt Service ($000) (b) |  |  | Balloon Payment ($000) |
INDUSTRIAL |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North Berwick, ME |  |  |  | $ | 381 |  |  |  | 3.560 | % |  | 04/2019 |  | $ | 383 |  |  | $ | - |
Streetsboro, OH |  |  |  |  | 16,565 |  |  |  | 5.749 | % |  | 09/2019 |  |  | 858 |  |  |  | 16,338 |
Lavonia, GA |  |  |  |  | 6,647 |  |  |  | 5.460 | % |  | 12/2020 |  |  | 741 |  |  |  | 5,895 |
Chester, SC |  |  |  |  | 6,569 |  |  |  | 5.380 | % |  | 08/2025 |  |  | 1,144 |  |  |  | 362 |
Richland, WA |  |  |  |  | 110,000 |  |  |  | 4.000 | % |  | 01/2026 |  |  | 4,400 |  |  |  | 99,492 |
Long Island City, NY |  |  |  |  | 39,994 |  |  |  | 3.500 | % |  | 03/2028 |  |  | 4,879 |  |  |  | - |
Warren, MI |  |  |  |  | 25,850 |  |  |  | 5.380 | % |  | 11/2032 |  |  | 1,391 |  |  |  | 22,037 |
Industrial Subtotal/Wtg. Avg./Years Remaining (c) |  |  |  | $ | 206,006 |  |  |  | 4.307 | % |  | 7.6 |  | $ | 13,796 |  |  | $ | 144,124 |
OFFICE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Overland Park, KS |  |  |  | $ | 32,112 |  |  |  | 5.891 | % |  | 05/2019 |  | $ | 1,040 |  |  | $ | 31,812 |
Kansas City, MO |  |  |  |  | 15,272 |  |  |  | 5.883 | % |  | 05/2019 |  |  | 391 |  |  |  | 15,179 |
Columbus, IN |  |  |  |  | 7,301 |  |  |  | 2.210 | % |  | 07/2019 |  |  | 2,386 |  |  |  | 4,993 |
Lenexa, KS |  |  |  |  | 8,153 |  |  |  | 6.270 | % |  | 12/2019 |  |  | 671 |  |  |  | 7,770 |
Boca Raton, FL |  |  |  |  | 18,785 |  |  |  | 6.470 | % |  | 02/2020 |  |  | 1,542 |  |  |  | 18,414 |
Oakland, ME |  |  |  |  | 8,138 |  |  |  | 5.930 | % |  | 10/2020 |  |  | 750 |  |  |  | 7,660 |
Wall, NJ |  |  |  |  | 8,847 |  |  |  | 6.250 | % |  | 01/2021 |  |  | 3,774 |  |  |  | - |
Charleston, SC |  |  |  |  | 6,878 |  |  |  | 5.850 | % |  | 02/2021 |  |  | 520 |  |  |  | 6,632 |
Whippany, NJ |  |  |  |  | 12,156 |  |  |  | 6.298 | % |  | 11/2021 |  |  | 1,344 |  |  |  | 10,400 |
Palo Alto, CA |  |  |  |  | 32,188 |  |  |  | 3.970 | % |  | 12/2023 |  |  | 7,059 |  |  |  | - |
Lenexa, KS |  |  |  |  | 31,698 |  |  |  | 3.700 | % |  | 11/2027 |  |  | 3,187 |  |  |  | 10,000 |
Lake Jackson, TX |  |  |  |  | 187,980 |  |  |  | 4.040 | % |  | 10/2036 |  |  | 12,408 |  |  |  | 11,305 |
Office Subtotal/Wtg. Avg./Years Remaining (c) |  |  |  | $ | 369,508 |  |  |  | 4.581 | % |  | 10.6 |  | $ | 35,072 |  |  | $ | 124,165 |
Subtotal/Wtg. Avg./Years Remaining (c) |  |  |  | $ | 575,514 |  |  |  | 4.483 | % |  | 9.5 |  | $ | 48,868 |  |  | $ | 268,289 |
Corporate (d) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revolving Credit Facility |  | (h) |  | $ | - |  |  |  | - |  |  | 08/2019 |  | $ | - |  |  | $ | - |
Term Loan |  | (e) |  |  | 300,000 |  |  |  | 2.662 | % |  | 01/2021 |  |  | 10,491 |  |  |  | 300,000 |
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 |  | (f) |  |  | 129,120 |  |  |  | 4.220 | % |  | 04/2037 |  |  | 5,525 |  |  |  | 129,120 |
Subtotal/Wtg. Avg./Years Remaining (c) |  |  |  | $ | 929,120 |  |  |  | 3.773 | % |  | 5.8 |  | $ | 37,641 |  |  | $ | 929,120 |
Total/Wtg. Avg./Years Remaining (c) |  | (g) |  | $ | 1,504,634 |  |  |  | 4.045 | % |  | 7.2 |  | $ | 86,509 |  |  | $ | 1,197,409 |

Footnotes

| (a) | Subtotal and total based on weighted-average term to maturity shown in years based on debt balance.

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

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

| (d) | Unsecured.

| (e) | Rate ranges from LIBOR plus 0.90% to 1.75%. LIBOR rate fixed at 1.42% through January 2019 via interest rate swap agreements on $255.0 million of borrowings. Estimated annual debt service based on non-swapped rate at December 31, 2018.

| (f) | Rate is three month LIBOR plus 170 bps.

| (g) | See reconciliations of non-GAAP measures in this document.

| (h) | Subsequent to December 31, 2018, revolving credit facility replaced to extend the maturity to February 2023.

42

LEXINGTON REALTY TRUST

Debt Maturity Schedule

12/31/2018

($000)

Consolidated Properties
Year |  | Mortgage Scheduled Amortization |  |  | Mortgage Balloon Payments |  |  | Corporate Debt |
2019 |  | $ | 25,795 |  |  | $ | 76,092 |  |  | $ | - |
2020 |  |  | 23,174 |  |  |  | 31,969 |  |  |  | - |
2021 |  |  | 23,433 |  |  |  | 17,032 |  |  |  | 300,000 |
2022 |  |  | 22,120 |  |  |  | - |  |  |  | - |
2023 |  |  | 23,998 |  |  |  | - |  |  |  | 250,000 |
|  | $ | 118,520 |  |  | $ | 125,093 |  |  | $ | 550,000 |

Debt Maturity Profile (1)

Footnotes

| (1) | Percentage denotes weighted-average interest rate.

43

LEXINGTON REALTY TRUST

Selected Balance Sheet Account Data

12/31/2018

($000)

Balance Sheet |  |  |  |

Other assets |  | $ | 12,779 |
The components of other assets are: |  |  |  |
Deposits |  | $ | 933 |
Equipment |  |  | 462 |
Prepaids |  |  | 960 |
Other receivables |  |  | 1,778 |
Deferred lease incentives |  |  | 8,570 |
Interest rate swap derivative asset |  |  | 76 |
Accounts payable and other liabilities |  |  |  |
The components of accounts payable and other liabilities are: |  | $ | 30,790 |
Accounts payable and accrued expenses |  | $ | 17,985 |
CIP accruals and other |  |  | 1,850 |
Taxes |  |  | 367 |
Deferred lease costs |  |  | 8,380 |
Deposits |  |  | 1,381 |
Escrows |  |  | 699 |
Transaction costs |  |  | 128 |

44

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 Press Release, in this Quarterly Supplemental Information 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, non-recurring charges 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.

The National Association of Real Estate Investment Trusts, or NAREIT, defines FFO as “net income (calculated in accordance with GAAP), excluding depreciation and amortization related to real estate, gains and losses from the sales of certain real estate assets, gains and losses from change in control and impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in value of depreciable real estate held by the entity. The reconciling items include amounts to adjust earnings from consolidated partially-owned entities and equity in earnings of unconsolidated affiliates to FFO.” 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 estimates and 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) by the acquisition/completion cost (or sale) price.

45

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 that of 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 three comparable reporting periods. As Same-Store NOI excludes the change in NOI from acquired and disposed of 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.

46

LEXINGTON REALTY TRUST

RECONCILIATION OF NON-GAAP MEASURES

($000)

|  | Twelve months ended December 31, 2018 |
Cash Rent Reconciliation: |  |  |  |
Rental revenue as reported |  | $ | 364,731 |
Rental revenue from sold properties |  |  | (73,820 | )
Lease termination income |  |  | (2,755 | )
GAAP rent per supplement |  |  | 288,156 |
GAAP rent adjustments: (1) |  |  |  |
Straight-line adjustments |  |  | (16,249 | )
Lease incentives |  |  | 916 |
Amortization of above/below market leases |  |  | (16 | )
Cash rent per supplement |  | $ | 272,807 |

Consolidated debt reconciliation December 31, 2018: |  |  |  |

|  | GAAP Balance |  |  | Deferred Loan Costs, net |  |  | Discounts |  |  | Gross Balance |
Mortgages and notes payable (2) |  | $ | 570,420 |  |  | $ | 5,094 |  |  | $ | - |  |  | $ | 575,514 |
Term loans payable (3) |  |  | 298,733 |  |  |  | 1,267 |  |  |  | - |  |  |  | 300,000 |
Senior notes payable(3) |  |  | 496,034 |  |  |  | 2,731 |  |  |  | 1,235 |  |  |  | 500,000 |
Trust preferred securities (3) |  |  | 127,296 |  |  |  | 1,824 |  |  |  | - |  |  |  | 129,120 |
Consolidated debt |  | $ | 1,492,483 |  |  | $ | 10,916 |  |  | $ | 1,235 |  |  | $ | 1,504,634 |

Footnotes

| (1) | Individual items are adjusted for sold properties, which were previously reflected in the reconciliation.

| (2) | Secured.

| (3) | Unsecured.

47

LEXINGTON REALTY TRUST

RECONCILIATION OF NON-GAAP MEASURES (CONTINUED)

($000)

Same-Store NOI Reconciliation:

|  | Twelve months ended December 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Net Income |  | $ | 230,906 |  |  | $ | 86,629 |  |  | $ | 96,450 |
Interest and amortization expense |  |  | 79,880 |  |  |  | 77,883 |  |  |  | 88,032 |
Provision for income taxes |  |  | 1,728 |  |  |  | 1,917 |  |  |  | 1,439 |
Depreciation and amortization |  |  | 168,191 |  |  |  | 173,968 |  |  |  | 166,048 |
General and administrative |  |  | 31,662 |  |  |  | 34,158 |  |  |  | 31,104 |
Litigation reserve |  |  | - |  |  |  | 2,050 |  |  |  | - |
Pursuit / transaction costs |  |  | 260 |  |  |  | 2,171 |  |  |  | 836 |
Non-operating income |  |  | (3,491 | ) |  |  | (10,378 | ) |  |  | (13,043 | )
Gains on sales of properties |  |  | (252,913 | ) |  |  | (63,428 | ) |  |  | (81,510 | )
Impairment charges and loan loss |  |  | 95,813 |  |  |  | 44,996 |  |  |  | 100,236 |
Debt satisfaction (gains) charges, net |  |  | 2,596 |  |  |  | (6,196 | ) |  |  | 975 |
Equity in (earnings) losses of non-consolidated entities |  |  | (1,708 | ) |  |  | 848 |  |  |  | (7,590 | )
Lease termination income |  |  | (2,755 | ) |  |  | (3,242 | ) |  |  | (17,363 | )
Straight-line adjustments |  |  | (20,968 | ) |  |  | (19,784 | ) |  |  | (37,748 | )
Lease incentives |  |  | 1,686 |  |  |  | 1,969 |  |  |  | 1,673 |
Amortization of above/below market leases |  |  | (10,132 | ) |  |  | 1,544 |  |  |  | 2,057 |
Net Operating Income - ("NOI") |  |  | 320,755 |  |  |  | 325,105 |  |  |  | 331,596 |
Less NOI: |  |  |  |  |  |  |  |  |  |  |  |
Acquisitions and dispositions |  |  | (129,258 | ) |  |  | (133,319 | ) |  |  | (138,724 | )
Same-Store NOI |  | $ | 191,497 |  |  | $ | 191,786 |  |  | $ | 192,872 |

NOI for NAV:

|  | Twelve months ended |  |  |  |  |  |  |  |  |
|  | December 31, 2018 |  |  |  |  |  |  |  |  |
NOI per above |  | $ | 320,755 |  |  |  |  |  |  |  |  |
Less NOI: |  |  |  |  |  |  |  |  |  |  |  |
Disposed of properties |  |  | (58,531 | ) |  |  |  |  |  |  |  |
Assets held for sale |  |  | (5,646 | ) |  |  |  |  |  |  |  |
Assets acquired in 2018 |  |  | (6,784 | ) |  |  |  |  |  |  |  |
Assets less than 70% leased / Other |  |  | (7,373 | ) |  |  |  |  |  |  |  |
NOI for NAV |  | $ | 242,421 |  |  |  |  |  |  |  |  |

48

LEXINGTON REALTY TRUST

RECONCILIATION OF NON-GAAP MEASURES (CONTINUED)

($000)

Reconciliation to Adjusted EBITDA:

|  | Year-end |
|  | December 31, 2018 |
Net income attributable to Lexington Realty Trust shareholders |  | $ | 227,415 |
Interest and amortization expense |  |  | 79,880 |
Provision for income taxes |  |  | 1,728 |
Depreciation and amortization |  |  | 168,191 |
Straight-line adjustments |  |  | (20,968 | )
Lease incentives |  |  | 1,686 |
Amortization of above/below market leases |  |  | (10,132 | )
Gains on sales of properties |  |  | (252,913 | )
Impairment charges |  |  | 95,813 |
Debt satisfaction charges, net |  |  | 2,596 |
Non-cash charges, net |  |  | 6,810 |
Pro-rata share adjustments: |  |  |  |
Non-consolidated entities adjustment |  |  | 4,159 |
Noncontrolling interests adjustment |  |  | 2,516 |
Adjusted EBITDA |  | $ | 306,781 |

49

LEXINGTON REALTY TRUST

RECONCILIATION OF NON-GAAP MEASURES (CONTINUED)

($000)

Reconciliation of Select Credit Metrics:

Adjusted Company FFO Payout: |  | Twelve months ended December 31, 2018 |  |  | (Debt + Preferred) / Gross Assets: |  | Twelve months ended December 31, 2018 |
Common share dividends per share |  | $ | 0.71 |  |  | Consolidated debt |  | $ | 1,492,483 |
Adjusted Company FFO per diluted share |  |  | 0.96 |  |  | Preferred shares liquidation preference |  |  | 96,770 |
Adjusted Company FFO payout ratio |  |  | 74.0 | % |  | Debt and preferred |  | $ | 1,589,253 |
Unencumbered Assets: |  |  |  |  |  | Total assets |  | $ | 2,953,840 |
Real estate, at cost |  | $ | 3,509,746 |  |  | Plus depreciation and amortization: |  |  |  |
held for sale real estate, at cost |  |  | 78,137 |  |  | Real estate |  |  | 954,087 |
less encumbered real estate, at cost |  |  | (782,730 | ) |  | Deferred lease costs |  |  | 18,715 |
Unencumbered assets |  | $ | 2,805,153 |  |  | Held for sale assets |  |  | 17,441 |
Unencumbered NOI: |  |  |  |  |  | Gross assets |  | $ | 3,944,083 |
NOI |  | $ | 320,755 |  |  |  |  |  |  |
Disposed of properties NOI |  |  | (58,531 | ) |  | (Debt + Preferred) / Gross Assets |  |  | 40.3 | %
Adjusted NOI |  |  | 262,224 |  |  |  |  |  |  |
less encumbered adjusted NOI |  |  | (74,756 | ) |  | Debt / Gross Assets: |  |  |  |
Unencumbered adjusted NOI |  | $ | 187,468 |  |  | Consolidated debt |  | $ | 1,492,483 |
Unencumbered NOI % |  |  | 71.5 | % |  |  |  |  |  |
|  |  |  |  |  | Gross assets |  | $ | 3,944,083 |
Net Debt / Adjusted EBITDA: |  |  |  |  |  |  |  |  |  |
Adjusted EBITDA |  | $ | 306,781 |  |  | Debt / Gross assets |  |  | 37.8 | %
Consolidated debt |  | $ | 1,492,483 |  |  | Secured Debt / Gross Assets: |  |  |  |
less consolidated cash and cash equivalents |  |  | (168,750 | ) |  | Mortgages and notes payable |  | $ | 570,420 |
Non-consolidated debt, net |  |  | 103,281 |  |  |  |  |  |  |
Net debt |  | $ | 1,427,014 |  |  | Gross assets |  | $ | 3,944,083 |
Net debt / Adjusted EBITDA |  |  | 4.7 | x |  | Secured Debt / Gross Assets |  |  | 14.5 | %
(Net Debt + Preferred) / Adjusted EBITDA: |  |  |  |  |  | Unsecured Debt / Unencumbered NOI: |  |  |  |
Adjusted EBITDA |  | $ | 306,781 |  |  | Consolidated debt |  | $ | 1,492,483 |
|  |  |  |  |  | less mortgages and notes payable |  |  | (570,420 | )
Net debt |  | $ | 1,427,014 |  |  | Unsecured Debt |  | $ | 922,063 |
Preferred shares liquidation preference |  |  | 96,770 |  |  |  |  |  |  |
Net debt + preferred |  | $ | 1,523,784 |  |  | Unencumbered adjusted NOI (Annual) |  | $ | 187,468 |
(Net Debt + Preferred) / Adjusted EBITDA |  |  | 5.0 | x |  | Unsecured Debt / Unencumbered NOI |  |  | 4.9 | x

50

Investor Information

Transfer Agent

Computershare | Overnight Correspondence:
PO Box 505000 | 462 South 4th Street, Suite 1600
Louisville, KY 40233 | Louisville, KY 40202
(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
James Feldman | (646) 855-5808
Barclays Capital
Ross L. Smotrich | (212) 526-2306
D.A. Davidson
Barry Oxford | (212) 240-9871
Evercore Partners
Sheila K. McGrath | (212) 497-0882
J.P. Morgan Chase
Anthony Paolone | (212) 622-6682

Jeffries & Company, Inc.
Jon Peterson | (212) 284-1705
KeyBanc Capital Markets Inc.
Craig Mailman | (917) 368-2316
Ladenburg Thalmann & Co., Inc.
John Massocca | (212) 409-2543
Stifel Nicolaus
John W. Guinee | (443) 224-1307
Wells Fargo Securities, LLC
Todd J. Stender | (562) 637-1371

51