Terreno Realty Corporation

Terreno Realty Corporation ("Terreno"" and together with its subsidiaries ""the Company"") acquires owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles Northern New Jersey/New York City San Francisco Bay Area Seattle Miami and Washington D.C. We invest in several types of industrial real estate including warehouse/distribution (approximately 79.5% of our total annualized base rent as of December 31 2021) flex (including light industrial and research and development or R&D) (approximately 4.8%) transshipment (approximately 6.4%) and improved land (approximately 9.3%). We target functional properties in infill locations that may be shared by multiple tenants and that cater to customer demand within the various submarkets in which we operate. Infill locations are geographic locations surrounded by high concentrations of already developed land and existing buildings. As of December 31 2021 we owned a total of 253 buildings aggregating approximately 15.1 million square feet 36 improved land parcels consisting of approximately 127.1 acres and four properties under redevelopment that upon completion will consist of two properties aggregating approximately 0.2 million square feet and two improved land parcels aggregating approximately 12.1 acres. As of December 31 2021 the buildings and improved land parcels were approximately 95.5% and 94.8% leased (including 0.4 million square feet of vacancy acquired during the fourth quarter of 2021) respectively to 554 customers the largest of which accounted for approximately 4.9% of our total annualized base rent."