Company Overview 6 Q3 2017 Corporate Profile Mack-Cali is a publicly traded REIT on the NYSE (“CLI”). The Company has executed upon a transformation strategy into a dual platform company of core office and Class A residential buildings. We are geographically focused on the Hudson River waterfront and transit based locations targeting cash flow growth through all economic cycles. Company Objectives Mack-Cali’s office portfolio strives to achieve the highest possible rents within geographically focused markets. We will continue to market and sell non-core assets to further upgrade the quality of our office portfolio. Company Highlights Building 8-9, Port Imperial, NJ (Construction Start - Q1 2018) Monaco, Jersey City, NJ (Full interest acquired April 2017) Disposition Highlights Since September 2015, the Company has executed on $1.1B of non-core office and flex asset sales, including $472M of sales in 2017. Currently, we have $364M of sales under contract/in negotiation with an additional targeted $69M of non-core dispositions through the remainder of 2017 and early 2018. The completion of those transactions will represent the end of our disposition program (see page 23). Roseland Highlights Concurrently, Roseland Residential, Mack-Cali’s multifamily subsidiary, is contributing meaningful operating cash flow with projected growth in the future. We leased our recently delivered units faster than projected at rents above proforma—Chase II (323 units) and Urby (762 units) achieved stabilization in Q3 and Quarry Place (108 units) is expected to stabilize in Q1 2018. We also have 2,300 units currently in-construction with initial deliveries scheduled for Q1 2018. Q3 2017 Q2 2017 Market capitalization: $5.5 billion $5.9 billion Net Asset Value (midpoint) $3.69 billion $3.83 billion Square feet of office space: 17.9 million 21.4 million % leased (excl. Non-Core): 90.1% 89.9% GAAP rental rate roll-up (excl. Non-Core) 14.6% 17.7% Cash rental rate roll-up (excl. Non-Core) -0.6% 7.0% Operating multifamily units: 5,826 5,825 % leased for stabilized multifamily units: 97.4% 97.9% In-Construction multifamily units/keys: 2,300 2,300 Current Transactions Executed 0 200 400 600 800 1000 1200 Dispositions of Non - Core Assets ($1.5B) Remaining

Financial Highlights – Balance Sheet & Capital Markets 7 Q3 2017 The Company’s key financial metrics as of September 30, 2017 were: The Company’s Net Debt to Adjusted EBITDA, calculated without residential debt, would be 6.9x. Through scheduled sales and increased earnings, we plan to maintain a ratio of below 7x for the office portfolio Acquisitions: Subsequent to quarter-end, the Company reached an agreement to acquire an approved residential development site in the Jersey City waterfront submarket. Upon our targeted closing of mid-November, we will provide additional details on the 749-unit mixed-use project which will also include a school and a below market 20-year tax abatement. This deal will be funded as a partial 1031 exchange 107 Morgan: The Company acquired a $44.5 million land note encumbering a potential development site in Jersey City, NJ. The source of funding is likely a 1031 exchange Rockpoint Capital: Rockpoint made a $300 million equity investment to further facilitate Roseland’s residential business plan. RRT received a deemed funded existing equity value at closing of $1.23 billion. As of Q3 2017, $150 million of Rockpoint capital has been funded Recent Financings: Quarry Place at Tuckahoe: Roseland placed a ten-year, $41 million mortgage at an interest-only rate of 4.48% on the recently delivered asset The Chase at Overlook Ridge: Roseland is in the process of placing a combined mortgage for the refinancing of Chase I and Chase II Company Line of Credit: The Company had no balance outstanding at quarter-end Dispositions: In the nine months ended September 30, 2017, Mack-Cali disposed of 90 non-core buildings totaling 9,436,280 rentable square feet for $472 million In September, Roseland disposed of a non-strategic holding in Montvale, NJ Dividends: In September, the Company’s Board of Directors declared a cash dividend of $0.20 per common share for the third quarter 2017 (indicating an annual rate of $0.80 per common share). The Company's Core FFO dividend payout ratio for the quarter was 34.9 percent Company Highlights September 30, 2017 June 30, 2017 March 31, 2017 Core FFO per Share $0.57 $0.60 $0.56 Dividends Declared per Share $0.20 $0.20 $0.15 Net Debt to Adjusted EBITDA 8.0x 8.3x 8.5x Net Debt to Adjusted EBITDA - Less CIP debt 7.6x 7.8x 8.0x Net Debt to Adjusted EBITDA - office portfolio 6.9x 7.2x 8.2x Interest Coverage Ratio 3.4x 3.5x 3.8x Fixed Charge Coverage Ratio 2.6x 2.8x 2.9x

Financial Highlights – Key Metrics 8 Q3 2017 From September 2016 to September 2017, we strengthened our Core FFO, AFFO, and Debt Coverage ratios: Company Highlights Core FFO per share increased from $0.56 to $0.57 AFFO increased from $20.5M to $39.6M (93%) Interest coverage increased from 3.3x to 3.4x 09/30/17 06/30/17 03/31/17 12/31/16 09/30/16 ($’s in thousands, except ratios) Market Value of Equity (1) $2,607,433 $2,949,047 $2,922,371 $2,928,309 $2,747,095 Total Debt, Net 2,839,186 2,950,219 2,731,204 2,340,009 2,455,309 Total Market Capitalization 5,446,619 5,899,266 5,653,575 5,268,318 5,202,404 Total Debt/ Total Market Capitalization 52.1% 50.0% 48.3% 44.4% 47.2% Total Debt/ Total Book Capitalization 56.8% 58.1% 55.6% 54.5% 55.4% Total Debt/ Total Undepreciated Assets 46.2% 47.5% 43.8% 41.6% 42.4% Secured Debt/ Total Undepreciated Assets 22.0% 21.9% 18.5% 15.8% 18.3% Core FFO per share 0.57 0.60 0.56 0.56 0.56 Portfolio Size: Consolidated In-Service Properties 147 198 198 199 214 Consolidated Total Commercial Square Footage 17,827,947 21,352,339 21,448,339 20,951,376 23,355,409 Consolidated Total Commercial Square Footage-excluding Non-Core 14,868,716 17,639,242 17,639,242 19,001,223 19,764,352 Commercial Sq. Ft. Leased at End of Period-excluding Non-Core (3) 90.1% 89.9% 90.4% 90.6% 90.3% Shares and Units: Common Shares Outstanding 89,913,576 89,913,919 89,844,752 89,696,713 89,647,337 Common Units Outstanding 10,438,855 10,438,855 10,339,443 10,488,105 10,497,946 Combined Shares and Units 100,352,431 100,352,774 100,184,195 100,184,818 100,145,283 Weighted Average- Diluted (4) 100,727,006 100,369,717 100,636,886 100,575,238 100,252,797 Common Share Price ($’s): At the end of the period $23.71 $27.14 $26.94 $29.02 $27.22 High during period 27.75 28.57 29.70 29.38 29.25 Low during period 22.70 25.96 26.31 24.59 26.11 Notes: See supporting “Key Metrics” notes on page 43

Financial Highlights– Evolving Portfolio with Superior Quality of Earnings Mack-Cali has continued to transform its portfolio from heavily suburban earnings towards a growing Residential and specifically geographically focused office(1) concentration As a percentage of Net Operating Income, the combined contributions from the residential and focused office platforms are projected to increase from 48% in 2016 to 70% in 2018 Incorporating stabilized NOI in our 2,300 unit In-Construction portfolio of $53 million, the percentage of NOI from our Residential and geographically focused office categories are projected to be 74% from 48%. Of the remaining 26%, only 18% is suburban office and 8% is flex. With its consistently improving portfolio composition, the Company should significantly outgrow its currently discounted multiple Projected NOI Contribution Q3 2017 Q3 2017 Company Highlights 9 (83%) (48%) (86%) (55%) (70%) (91%) (74%) (92%) Geographically Focused Office (1) 40% 43% 45% 39% Multifamily 8% 12% 25% 35% Suburban 34% 31% 21% 18% Flex 17% 14% 9% 8% Note: (1) Geographically Focused Office Includes: Hudson Waterfront, Metropark, Short Hills, White Plains, and George Washington Bridge Portfolios. (CIP Stabilized)

Financial Highlights – FFO, Core FFO & AFFO 10 Q3 2017 Company Highlights $ in thousands, except per share amounts (unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Net income (loss) available to common shareholders $38,054 ($8,541) $20,603 $102,043 Add (deduct): Noncontrolling interest in Operating Partnership 4,413 (999) 2,412 11,947 Real estate-related depreciation and amortization on continuing operations (1) 57,231 52,371 172,144 147,872 Gain on sale of investment in unconsolidated joint venture (10,568) - (23,131) (5,670) Gain on change of control of interests - - - (15,347) Realized gains and unrealized losses on disposition of rental property, net (31,336) 17,053 2,112 (68,664) Funds from operations (2) $57,794 $59,884 $174,140 $172,181 Add/Deduct: Acquisition-related costs - $815 - $2,854 Dead deal costs - - - 791 Mark-to-market interest rate swap - (1,012) - - Net real estate tax appeal proceeds - (746) - (746) Equity in earnings fromjoint venture refinancing proceeds - (21,708) - (21,708) (Gain)/Loss from extinguishment of debt, net - 19,302 $239 6,882 Core FFO $57,794 $56,535 $174,379 $160,254 Add (Deduct) Non-Cash Items: Straight-line rent adjustments (3) ($6,360) ($4,378) ($12,613) ($11,331) Amortization of market lease intangibles, net (4) (2,254) (1,043) (6,018) (1,488) Amortization of stock compensation 2,291 2,133 5,626 4,585 Non real estate depreciation and amortization 505 305 1,231 717 Amortization of debt discount/(premium) and mark-to-market, net (164) 291 (86) 1,417 Amortization of deferred financing costs 1,184 1,234 3,462 3,583 Deduct: Non-incremental revenue generating capital expenditures: Building improvements (1,664) (5,883) (9,936) (14,389) Tenant improvements and leasing commissions (5) (5,110) (8,208) (17,225) (35,017) Tenant improvements and leasing commissions on space vacant for more than one year (6,667) (20,456) (18,783) (50,387) Adjusted FFO (6) $39,555 $20,530 $120,037 $57,944 Core FFO (calculated above) $57,794 $56,535 $174,379 $160,254 Deduct: Equity in earnings (loss) of unconsolidated joint ventures, net $1,533 ($82) $4,882 $2,086 Equity in earnings share of depreciation and amortization (5,260) (4,559) (15,607) (13,948) Add-back: Interest expense 25,634 24,233 70,898 72,158 Recurring JV distributions 4,057 2,869 9,778 8,473 Income (loss) in non-controlling interest in consolidated joint ventures (447) (65) (865) (460) Redeemable noncontrolling interest 2,683 - 6,157 - Adjusted EBITDA $85,994 $78,931 $249,622 $228,563 Net debt at period end (7) $2,750,397 $2,433,754 $2,750,397 $2,433,754 Net debt to Adjusted EBITDA (8) 8.0x 7.7x 8.3x 8.0x Diluted weighted average shares/units outstanding (9) 100,727 100,253 100,701 100,486 Funds from operations per share-diluted $0.57 $0.60 $1.73 $1.71 Core Funds from Operations per share/unit-diluted $0.57 $0.56 $1.73 $1.59 Dividends declared per common share $0.20 $0.15 $0.55 $0.45 Notes: See footnotes and “Information About FFO, Core FFO, & AFFO” on the following page.

FFO, Core FFO & AFFO - Notes 11 Q3 2017 Company Highlights Notes Includes the Company’s share from unconsolidated joint ventures, and adjustments for noncontrolling interest, of $5,362 and $4,559 for the three months ended September 30, 2017 and 2016, respectively, and $15,607 and $13,948 for the nine months ended September 30, 2017 and 2016, respectively. Excludes non-real estate-related depreciation and amortization of $505 and $305 for the three months ended September 30, 2017 and 2016, respectively, and $1,231 and $717 for the nine months ended September 30, 2017 and 2016, respectively. Funds from operations is calculated in accordance with the definition of FFO of the National Association of Real Estate Investment Trusts (NAREIT). See “Information About FFO, Core FFO and AFFO” below. Includes the Company's share from unconsolidated joint ventures of $673 and $362 for the three months ended September 30, 2017 and 2016, respectively, and $968 and $511 for the nine months ended September 30, 2017 and 2016, respectively. Includes the Company's share from unconsolidated joint ventures of $81 and $95 for the three months ended September 30, 2017 and 2016, respectively, and $256 and $285 for the nine months ended September 30, 2017 and 2016, respectively. Excludes expenditures for tenant spaces in properties that have not been owned by the Company for at least a year. In its Supplemental Operating and Financial Data furnished for the First Quarter 2016, the Company had presented the Adjusted FFO (AFFO) amount for the three months ended March 31, 2016 of $21,924, which did not properly reflect the effects of certain non-cash components of AFFO. The amount presented in this report of $57,944 for the nine months ended September 30, 2016 includes the corrected amount. Net Debt calculated by taking the sum of senior unsecured notes, unsecured revolving credit facility, and mortgages, loans payable and other obligations, and deducting cash and cash equivalents, all at period end. Equals Net Debt at period end divided by Adjusted EBITDA (for quarter periods, Adjusted EBIDTA annualized multiplying quarter amounts by 4). Calculated based on weighted average common shares outstanding, assuming redemption of Operating Partnership common units into common shares (10,439 and 10,498 shares for the three months ended September 30, 2017 and 2016, respectively, and 10,394 and 10,502 for the nine months ended September 30, 2017 and 2016, respectively), plus dilutive Common Stock Equivalents (i.e. stock options). $ in thousands, except per share amounts (unaudited) Funds from operations (“FFO”) is defined as net income (loss) before noncontrolling interests of unitholders, computed in accordance with generally accepted accounting principles (“GAAP”), excluding gains or losses from depreciable rental property transactions, and impairments related to depreciable rental property, plus real estate-related depreciation and amortization. The Company believes that FFO per share is helpful to investors as one of several measures of the performance of an equity REIT. The Company further believes that as FFO per share excludes the effect of depreciation, gains (or losses) from sales of properties and impairments related to depreciable rental property (all of which are based on historical costs which may be of limited relevance in evaluating current performance), FFO per share can facilitate comparison of operating performance between equity REITs. FFO per share should not be considered as an alternative to net income available to common shareholders per share as an indication of the Company’s performance or to cash flows as a measure of liquidity. FFO per share presented herein is not necessarily comparable to FFO per share presented by other real estate companies due to the fact that not all real estate companies use the same definition. However, the Company’s FFO per share is comparable to the FFO per share of real estate companies that use the current definition of the National Association of Real Estate Investment Trusts (“NAREIT”). A reconciliation of net income per share to FFO per share is included in the financial tables above. Core FFO is defined as FFO, as adjusted for items that may distort the comparative measurement of the Company’s performance over time. Adjusted FFO ("AFFO") is defined as Core FFO less (i) recurring tenant improvements, leasing commissions and capital expenditures, (ii) straight-line rents and amortization of acquired below-market leases, net, and (iii) other non-cash income, plus (iv) other non-cash charges. Core FFO and AFFO are both non-GAAP financial measures that are not intended to represent cash flow and are not indicative of cash flows provided by operating activities as determined in accordance with GAAP. Core FFO and AFFO are presented solely as supplemental disclosures that the Company’s management believes provides useful information regarding the Company's operating performance and its ability to fund its dividends. There are not generally accepted definitions established for Core FFO or AFFO. Therefore, the Company's measures of Core FFO and AFFO may not be comparable to the Core FFO and AFFO reported by other REITs. A reconciliation of net income to Core FFO and AFFO are included in the financial tables above. Information About FFO, Core FFO and AFFO

12 Q3 2017 Net Asset Value (NAV) (Unaudited) Company Highlights We currently estimate a Mack-Cali NAV of approximately $3.69bn, inclusive of approximately $1.47bn in Roseland $ in millions (except per share amounts) See footnotes and “Information About Net Asset Value (NAV)” on pages 14 and 15. NAV Calculation (2) Net Value Range (3) Rentable SF/ Apt Units Projected NOI (1) Year 1 Cap Rate Gross Asset Value Gross Per SF / Unit (10) Existing Property Debt Third Party Interests Discount for CIP Net Asset Value High Low Office Portfolio MSF Hudson Waterfront (Jersey City) 4.884 $81.1 4.2% $1,954 $400 ($460) $0 $0 $1,494 $1,632 $1,345 Urban Core (Metropark, Short Hills) 1.951 42.0 6.6% 635 325 (125) 0 0 510 551 472 Suburban Core (Morris & Monmouth County) 4.542 58.2 8.0% 725 160 (68) 0 0 657 695 623 Flex 3.492 37.2 6.9% 540 155 0 0 0 540 569 509 Subtotal (4) 14.869 $3,854 $259 ($653) $0 $0 $3,201 $3,447 $2,949 Non-Core (5) 2.959 331 0 0 0 331 347 315 Hotel and Other JV Interests (6) 212 (130) (41) 0 41 42 38 Land & Other Assets (7)(8) 393 0 0 0 393 403 373 Office - Asset Value 17.828 $4,790 ($783) ($41) $0 $3,966 $4,239 $3,675 Less: Office Unsecured Debt (1,500) (1,500) (1,500) Less: Office Preferred Equity/LP Interests (53) (53) (53) Total Office NAV 17.828 $2,413 $2,686 $2,122 Multifamily Units Operating Properties - Wholly Owned (12) 2,551 $49.0 4.85% $1,009 $396 ($511) $0 ($3) $496 $523 $470 Operating Properties - JVs (9)(12) 2,733 66.1 4.72% 1,402 513 (677) (379) (8) 337 355 320 Operating Properties - Subordinate JVs 542 16.2 4.97% 326 601 (138) (154) 0 34 36 32 In-Construction Properties (11) 2,300 53.9 5.39% 999 434 (158) (19) (491) 331 352 312 Future Development Properties (8) 9,937 531 59 0 (140) 0 391 410 371 Fee Income Business & Other 40 0 0 0 40 40 40 Multifamily - Asset Value 18,063 $4,307 ($1,483) ($692) ($502) $1,629 $1,716 $1,545 Less: Rockpoint Interest (156) (156) (156) Total Multifamily NAV 18,063 $1,473 $1,560 $1,389 Less: Market Management Fee (13) (200) (200) (200) Total Mack-Cali NAV $3,686 $4,046 $3,311 Approximate NAV / Share (100.7MM shares) $36.61 $40.17 $32.89

Multifamily: Net Asset Value – Breakdown (Unaudited) 13 Q3 2017 Highlights of Roseland’s Net Asset Value include: Roseland Residential Top NAV (net equity) contributors: (41% NAV) 1. Urby at Harborside $203 2. Monaco 174 3. Alterra at Overlook Ridge 101 4. Portside 7 & 5/6 at East Pier 97 5. Chase I & II at Overlook Ridge 95 $670 $ in millions Valuation Spotlight - Operating Asset Value Ownership Key Assets GAV Per Unit NAV Wholly Owned Monaco, Alterra, Chase I & II $1,009 $383,607 $496 Joint Venture Urby, M2 at Marbella, Crystal House 1,402 493,442 337 Subordinated Interest Marbella 326 542,808 34 Total $2,737 $867 Gross Portfolio Value ($ in Millions) Stabilized Gross Asset Value $4,306 Less: Discount for CIP (502) Discounted Gross Asset Value $3,804 Less: Existing Debt (1,483) Less: 3rd Party Interests (692) Roseland Net Asset Value $1,629 MCRC Share (14) $1,473 Rockpoint Share $156 See footnotes and “Information About Net Asset Value (NAV)” on pages 14 and 15. Hudson River Waterfront 57% Boston Metro 24% NJ Corridor 10% Washington, D.C. 6% New York Metro 2% Philadelphia Metro 1% NAV by Market

Notes: Net Asset Value (Unaudited) 14 Q3 2017 The year one cap rate, applied to the projected 2018 cash net operating income, is derived from the present value of periodic cash flows over five years and a terminal value based on stabilized income and a market cap rate, all discounted at an unlevered internal rate of return. $ in millions Rentable Market Stabilized Area Projected Year 1 Cap In-Place Rent Occupancy Stabilized Unlevered (MSF) 2018 NOI Rate Rent PSF PSF Rate Cap Rate IRR Value $ PSF Office Hudson Waterfront 4.884 81.1 4.2% $36.09 $45.86 94.0% 6.0% 7.0% $ 1,954 $ 400 Urban Core 1.951 42.0 6.6% $34.89 $38.34 94.0% 6.5% 8.0% 635 325 Suburban Core 4.542 58.2 8.0% $26.85 $27.28 90.0% 8.0% 9.0% 725 160 Flex Parks 3.492 37.2 6.9% $17.52 $19.67 93.0% 7.0% 8.0% 540 155 Sub-Total 14.869 $28.75 $33.05 $3,854 Based on projected 2018 cash net operating income with management fees added back. NAV is arrived at by calculating the estimated gross asset values for each of our real estate properties, investments and other significant assets and interests, and then deducting from such amounts the corresponding net debt and third parties’ interests in the assets. Unless otherwise noted, gross asset values for the operating real estate properties are calculated using the direct capitalization method by dividing projected net operating income for a one year period by an estimated current capitalization rate for each property. For each operating property, management projects net operating income that it expects to receive for future periods from a combination of in-place lease contracts, prospective renewals of expiring leases and prospective lease-up of vacant space. Factors considered by management in projecting releasing and lease-up of vacant space and estimating the applicable market rental rates include: identification of leases currently being negotiated by management; historical annual leasing volumes for such property types; and comparable leases that have been executed for properties within the Company's portfolio and for competitor buildings in similar locations. A capitalization rate is estimated for each property based on its asset class and geographic location. Estimates of capitalization rates are based on information from recent property sale transactions as well as from publicly available information regarding unrelated third party property transactions. The value range is determined by adding or subtracting 0.50% to the mid-point terminal cap rate for office properties and 0.125% to the year 1 cap rate for multifamily properties. Property cash flows have been reduced by credit loss reserves and leasing and base building capital expenditures, including targeted Harborside renovations. Valuations for non-core assets, which are those assets being considered for sale or disposal, or in the active marketing process, are generally based on recent contract prices for similar properties in the process of being sold, letters of intent and ongoing negotiations for properties. Includes the Company's ownership interests in the Hyatt Regency Jersey City and three office joint venture properties. Includes Land $191 million (Plaza 4 - $90mm, One Lake St. $43 million, All other $58 million); Wegman's property ($62 million), seller financing notes ($65 million), 1031 funds ($39 million) and two out-of-service properties at cost ($36 million). The value of land is based on a combination of recent or pending transactions for land parcels within our relevant markets and unrelated third parties, and sometimes may utilize land appraisals for certain markets, if available for other purposes, such as for transaction financing. Further, we consider what a land parcel’s value would need to be when combined with all other development costs to yield what we believe to be an appropriate target rate of return for a development project. The per apartment unit or per square foot office space values are derived by dividing the aggregate land value by the number of potential apartment units or square feet of office space the land can accommodate. The number of potential units or square feet of office space a land parcel can accommodate is most commonly governed by either in-place governmental approvals or density regulations set forth by existing zoning guidelines. Joint venture investments are generally valued by: applying a capitalization rate to projected net operating income for the joint venture’s asset (which is similar to the process for valuing those assets wholly owned by the Company, as described above and previously), and deducting any joint venture level debt and any value allocable to joint venture partners’ interests. Represents gross value per square factor unit prior to reduction of JV interests and debt.

15 Q3 2017 Notes: Net Asset Value (Unaudited) Company Highlights The valuation approach for assets in construction or lease-up are similar to that applied to assets undergoing repositioning/repurposing, as described below. After applying an estimated capitalization rate to a projected stabilized net operating income upon completion of the construction or lease-up activities, the Company deducts any estimated future costs required to complete construction of the asset to arrive at an estimated value attributable to the asset. The Company then discounts the capitalized value back based on the projected number of periods to reach stabilization. The discount rate applied is determined based on a risk assessment of the development activities and comparable target returns in the marketplace. The Company then adds back the discounted projected interim cash flows expected to be generated during the projected lease-up period to reach stabilization. Valuations for properties planned for or undergoing a repositioning or repurposing utilize a projected stabilized net operating income for the asset upon completion of the repositioning/repurposing activities. After applying an estimated capitalization rate to a projected stabilized net operating income, the capitalized value is next discounted back based on the projected number of periods to re-stabilize the asset. The discount rate applied is determined based on a risk assessment of the repositioning/repurposing activities and comparable target returns in the marketplace, and further validated by outside market sources, when available for that market. Additionally, adjustments are made to the estimated value by deducting any estimated future costs necessary to complete the planned activities, as well as adding back the discounted projected interim operating cash flows expected to be generated by the property until re-stabilization has been achieved. Represents an estimate of management fee cost based on 3.0% of revenues, as the NOI presented is before cost for managing the portfolio. The multifamily valuation analysis totals to a Roseland NAV of $1,629,000,000, with the company’s share of this NAV of $1,473,000,000 (“MCRC Share”). This latter amount represents the company's share of Roseland NAV, net of the $156,000,000 attributable to Rockpoint's noncontrolling interest. The use of NAV as a measure of value is subject to certain inherent limitations. The assessment of the estimated NAV of a particular property is subjective in that it involves estimates and assumptions and can be calculated using various acceptable methods. The Company’s methods of determining NAV may differ from the methods used by other companies. Accordingly, the Company’s estimated NAV may not be comparable to measures used by other companies. As with any valuation methodology, the methodologies utilized by the Company in estimating NAV are based upon a number of estimates, assumptions, judgments or opinions that may or may not prove to be correct. Capitalization rates obtained from publicly available sources also are critical to the NAV calculation and are subject to the sources selected and variability of market conditions at the time. Investors in the Company are cautioned that NAV does not represent (i) the amount at which the Company’s securities would trade at a national securities exchange, (ii) the amount that a security holder would obtain if he or she tried to sell his or her securities, (iii) the amount that a security holder would receive if the Company liquidated its assets and distributed the proceeds after paying all of their expenses and liabilities or (iv) the book value of the Company’s real estate, which is generally based on the amortized cost of the property, subject to certain adjustments. Information About Net Asset Value (NAV)

16 Q3 2017 Financial Highlights – Balance Sheet Company Highlights $ in thousands, except per share amounts (unaudited) AS OF AS OF SEP 30, 2017 DEC 31, 2016 ASSETS Rental property Land and leasehold interests $712,166 $661,335 Buildings and improvements 4,021,241 3,758,210 Tenant improvements 344,465 364,092 Furniture, fixtures and equipment 29,355 21,230 5,107,227 4,804,867 Less – accumulated depreciation and amortization (1,146,091) (1,332,073) 3,961,136 3,472,794 Rental property held for sale, net 116,958 39,743 Net Investment in Rental Property 4,078,094 3,512,537 Cash and cash equivalents 88,789 31,611 Investments in unconsolidated joint ventures 238,440 320,047 Unbilled rents receivable, net 102,280 101,052 Deferred charges, goodwill and other assets, net 439,864 267,950 Restricted cash 40,473 53,952 Accounts receivable, net of allowance for doubtful accounts of $1,320 and $1,335 7,579 9,617 Total Assets $4,995,519 $4,296,766 LIABILITIES & EQUITY Senior unsecured notes, net $818,764 $817,355 Unsecured revolving credit facility and term loans 671,838 634,069 Mortgages, loans payable and other obligations, net 1,348,584 888,585 Dividends and distributions payable 20,929 15,327 Accounts payable, accrued expenses and other liabilities 182,929 159,874 Rents received in advance and security deposits 46,355 46,442 Accrued interest payable 16,776 8,427 Total Liabilities 3,106,175 2,570,079 Commitments and contingencies Redeemable noncontrolling interests 209,070 - Equity Mack-Cali Realty Corporation stockholders’ equity: Common stock, $0.01 par value, 190,000,000 shares authorized, 89,913,576 and 89,696,713 shares outstanding 899 897 Additional paid-in capital 2,566,069 2,576,473 Dividends in excess of net earnings (1,081,028) (1,052,184) Accumulated other comprehensive income 2,526 1,985 Total Mack-Cali Realty Corporation Stockholders’ Equity 1,488,466 1,527,171 Noncontrolling interests in subsidiaries: Operating Partnership 172,809 178,570 Consolidated joint ventures 18,999 20,946 Total Noncontrolling Interests in Subsidiaries 191,808 199,516 Total Equity 1,680,274 1,726,687 Total Liabilities and Equity $4,995,519 $4,296,766

17 Q3 2017 Financial Highlights – Income Statement Company Highlights $ in thousands, except per share amounts (unaudited) Three Months Ended September 30, Nine Months Ended September 30, REVENUES 2017 2016 2017 2016 Base rents $128,643 $129,523 $382,915 $380,133 Escalations and recoveries from tenants 16,385 16,177 47,455 45,248 Real estate services 5,748 6,650 17,980 19,931 Parking income 5,766 3,443 15,047 10,131 Other income 3,476 1,724 9,274 4,224 Total Revenues 160,018 157,517 472,671 459,667 EXPENSES Real estate taxes 21,300 20,606 63,609 66,250 Utilities 11,480 14,127 33,251 38,658 Operating services 26,312 25,553 80,495 76,309 Real estate services expenses 6,207 6,361 18,376 19,418 General and administrative 13,140 14,007 37,223 39,011 Acquisition-related costs - 815 - 2,854 Depreciation and amortization 52,375 48,117 157,768 134,639 Total Expenses 130,814 129,586 390,722 377,139 Operating Income 29,204 27,931 81,949 82,528 OTHER (EXPENSE) INCOME Interest expense (25,634) (24,233) (70,898) (72,158) Interest and other investment income (loss) 762 1,262 1,358 739 Equity in earnings (loss) of unconsolidated joint ventures (1,533) 21,790 (4,882) 19,622 Gain on change of control of interests - - - 15,347 Realized gains (losses) and unrealized losses on disposition of rental property, net 31,336 (17,053) (2,112) 68,664 Gain on sale of investment in unconsolidated joint venture 10,568 - 23,131 5,670 Gain (loss) from extinguishment of debt, net - (19,302) (239) (6,882) Total Other Income (Expense) 15,499 (37,536) (53,642) 31,002 Net Income (Loss) 44,703 (9,605) 28,307 113,530 Noncontrolling interest in consolidated joint ventures 447 65 865 460 Noncontrolling interest in Operating Partnership (4,413) 999 (2,412) (11,947) Redeemable noncontrolling interest (2,683) - (6,157) - Net Income (Loss) Available to Common Shareholders $38,054 ($8,541) $20,603 $102,043 Basic earnings per common share: Net income (loss) available to common shareholders $0.39 ($0.10) $0.06 $1.14 Diluted earnings per common share: Net income (loss) available to common shareholders $0.39 ($0.10) $0.06 $1.13 Basic weighted average shares outstanding 90,023 89,755 89,997 89,739 Diluted weighted average shares outstanding 100,727 100,253 100,701 100,486

18 Q3 2017 Debt Statistics Company Highlights Mack-Cali thoughtfully oversees its overall leverage in pursuit of its accretive multifamily development growth by consistently reducing offline portfolio leverage Notes: See supporting “Debt Statistics” notes on page 43 $ in thousands Effective September 30, December 31, Date of Lender Interest Rate 2017 2016 Maturity OFFICE PORTFOLIO Secured Debt Curtis Center CCRE & PREFG LIBOR+5.912% - $75,000 - 23 Main Street Berkadia CMBS 5.587% $27,282 27,838 09/01/18 Harborside Plaza 5 The Northwestern Mutual Life Insurance Co. & New York Life Insurance Co. 6.842% 210,381 213,640 11/01/18 One River Center Guardian Life Ins. Co. 7.311% 40,668 41,197 02/01/19 101 Hudson Wells Fargo CMBS 3.197% 250,000 250,000 10/11/26 Short Hills Portfolio Wells Fargo CMBS 4.150% 124,500 - 04/01/27 Principal balance outstanding 652,831 607,675 Unamortized deferred financing costs (3,054) (2,193) Total Secured Debt - Office Portfolio $649,777 $605,482 Senior Unsecured Notes: (1)(2) 2.500%, Senior Unsecured Notes public debt 2.803% $250,000 $250,000 12/15/17 4.500%, Senior Unsecured Notes public debt 4.612% 300,000 300,000 04/18/22 3.150%, Senior Unsecured Notes public debt 3.517% 275,000 275,000 05/15/23 Principal balance outstanding 825,000 825,000 Adjustment for unamortized debt discount (3,708) (4,430) Unamortized deferred financing costs (2,528) (3,215) Total Senior Unsecured Notes, net: $818,764 $817,355 Revolving Credit Facility & Unsecured Term Loans: 2016 Unsecured Term Loan 7 Lenders 3.13% $350,000 $350,000 01/07/19 2017 Unsecured Term Loan 13 Lenders 3.31% 325,000 - 01/25/20 Revolving Credit Facilities 13 Lenders LIBOR +1.200% - 286,000 01/25/21 Unamortized deferred financing costs (3,162) (1,931) Total Revolving Credit Facilities & Unsecured Term Loans: $671,838 $634,069 Total Debt - Office Portfolio $2,140,379 $2,056,906 MULTIFAMILY PORTFOLIO Secured Debt (Mortgages) Port Imperial 4/5 Hotel Fifth Third Bank & Santander LIBOR+4.50% 30,991 14,919 10/06/18 Chase II Fifth Third Bank LIBOR+2.25% 46,167 34,708 12/16/18 Park Square Wells Fargo Bank N.A. LIBOR+1.872% 26,917 27,500 04/10/19 250 Johnson M&T Bank LIBOR+2.35% 22,668 2,440 05/20/19 Portside 5/6 Citizens Bank LIBOR+2.50% 31,987 - 09/19/19 Port Imperial South 11 JPMorgan Chase LIBOR+2.35% 37,827 14,073 11/24/19 Worcester Citizens Bank LIBOR+2.50% 27,798 - 12/10/19 Monaco The Northwestern Mutual Life Insurance Co. 3.15% 170,392 - 02/01/21 Port Imperial South 4/5 Retail American General Life & A/G PC 4.559% 4,000 4,000 12/01/21 The Chase at Overlook Ridge New York Community Bank 3.74% 72,500 72,500 02/01/23 Portside 7 CBRE Capital Markets/FreddieMac 3.569% 58,998 58,998 08/01/23 Alterra I & II Capital One/FreddieMac 3.854% 100,000 - 02/01/24 150 Main Street Natixis Real Estate Capital LLC 4.48% 41,000 26,642 08/05/27 Port Imperial South 4/5 Garage American General Life & A/G PC 4.853% 32,600 32,600 12/01/29 Principal balance outstanding 703,845 288,380 Unamortized deferred financing costs (5,038) (5,277) Total Secured Debt - Multifamily Portfolio $698,807 $283,103 Total Debt - Multifamily Portfolio $698,807 $283,103 Total Debt: $2,839,186 $2,340,009

19 Q3 2017 Debt Breakdown and Repayments Company Highlights Mack-Cali has minimal variable rate debt of only $224 million, or 8% of total debt outstanding Debt Breakdown Maturity Schedule $ in thousands Notes: See supporting “Debt Breakdown and Repayments” notes on page 43 % Weighted Average Weighted Average Balance of Total Interest Rate (1) Maturity in Years Office - Fixed Rate Unsecured Debt and Other Obligations $1,500,000 52.51% 3.48% 2.77 Office - Fixed Rate Secured Debt 652,831 22.85% 4.91% 5.74 Multifamily - Fixed Rate Secured Debt 479,490 16.79% 3.68% 5.74 Variable Rate Secured Debt 224,357 7.85% 3.37% 1.38 Variable Rate Unsecured Debt - - - - Totals/Weighted Average: $2,856,677 100.00% 3.87% 3.86 Adjustment for unamortized debt discount (3,708) Unamortized deferred financing costs (13,783) Total Debt, net $2,839,186 Weighted Average Scheduled Principal Interest Rate of Period Amortization Maturities Total Future Repayments (1) October 1 to December 31, 2017 $1,849 $250,000 $251,849 2.83% 2018 6,977 308,695 315,672 6.12% 2019 1,912 534,566 536,478 3.55% 2020 1,977 325,000 326,977 3.31% 2021 2,051 168,800 170,851 3.19% Thereafter 6,811 1,242,647 1,249,458 3.89% Sub-total 21,577 2,829,708 2,851,285 3.87% Adjustment for unamortized debt discount/premium, net, as of September 30, 2017 (3,708) - (3,708) Unamortized mark-to-market 5,392 - 5,392 Unamortized deferred financing costs (13,783) - (13,783) Totals/Weighted Average: $9,478 $2,829,708 $2,839,186 3.87% (2)

21 Q3 2017 Office Portfolio Quarterly Highlights & Achievements Rent Roll Up: Rents on Q3 transactions rolled up 0.1% on a cash basis and 14.7% on a GAAP basis. Year-to-date, rents have rolled up 1.2% cash and 14.3% GAAP. For Core/Waterfront/Flex portfolio Q3 rents rolled down 0.6% cash and rolled up 14.6% GAAP. For the quarter, GAAP rents rolled up on 41 of the 42 transactions which qualified for inclusion in the statistic Average Rent: In Q3, 747,562 SF leased at: Leasing Costs: For Q3 transactions, we committed $2.03 per square foot per year of the lease term, and our year-to-date average is $2.16 2017 Expirations (Q4): Remaining 2017 expirations aggregate 681,000 square feet (net of 89,000 square feet in properties we plan to sell/repurpose): Represents 4.4% of leased square feet and 5.2% of annualized base rent; Average lease expirations on the Waterfront have in-place rental rates at approximately $33 per square-foot. Similar space in adjacent buildings have leased within the past year at average in-place rental rates of $45 per square-foot by Mack-Cali and our competitors. It is expected that the lease-up of this space is a "when, not if" scenario. Mack-Cali continues to add amenities to make these the buildings of choice in this market; 238,000 square feet in Urban and Suburban Core properties, represents a manageable 3.7% of Core portfolio. The product quality has drastically increased in this category as we removed the non-core buildings through sales. We should retain a significant amount of this space at increasing rents and replace the remainder with new tenants 2018 Expirations (approximately 2M square feet): Waterfront $49.81 Urban Core 32.13 Suburban Core 26.43 Flex 22.01 Sub-Total $23.58 Repositioning 29.50 Non-Core 27.62 TOTALS $24.65 SF Comments Waterfront 867,061 Existing tenants express renewal and expansion interest; new tenants represent cash roll up potential but will take some quarters Urban Core 85,574 Tight markets, existing tenants looking to expand Suburban Core 277,732 Capital expenditure improvements should help retain and attract tenants Flex 262,028 Never been an issue to re-lease flex space in Westchester Sub-Total 1,492,395 Non-Core 518,658 TOTALS 2,011,053 Our continued goal in re-shaping the portfolio through sales, strategic acquisitions and selective leasing, is to generate longer leases with less cost per square-foot per year and a more manageable lease expiration schedule of no more than 12% each year 0% 5% 10% 15% 20% 25% 30% 35% 40% Q4 2016 Q1 2017 Q2 2017 Q3 2017 Weighted Average Roll Up - Down Waterfront Urban Core Suburban Core Flex Non-Core

Over the past two years Mack-Cali has strategically disposed of over $1.1B in Non-Core and Joint Venture office assets. We expect to be complete with our disposition strategy in 2Q 2018. Our goal is to own a class A office portfolio totaling approximately 15MSF primarily comprised of Hudson Waterfront, Flex, Urban Core and Suburban Core assets. Disposition Strategy & Statistics 22 Q3 2017 Office Portfolio SEPTEMBER 2015 YEAR-END 2016 TARGETED YEAR-END 2017 TARGETED 1H 2018 SF % of SF Portfolio # of Bldgs SF % of SF Portfolio # of Bldgs SF % of SF Portfolio # of Bldgs SF % of SF Portfolio # of Bldgs Waterfront Totals 4,317,978 14.4% 5 4,884,193 22.0% 6 4,884,193 22.0% 6 4,884,193 32.4% 6 Urban Core Totals 911,185 3.0% 5 1,370,154 6.2% 7 1,951,091 8.8% 10 1,951,091 12.9% 10 Short Hills 247,476 0.8% 1 247,476 1.1% 1 828,413 3.7% 4 828,413 5.5% 4 Metropark 395,709 1.3% 2 854,678 3.9% 4 854,678 3.9% 4 854,678 5.7% 4 Fort Lee 268,000 0.9% 2 268,000 1.2% 2 268,000 1.2% 2 268,000 1.8% 2 Suburban Core Totals 7,095,714 23.7% 52 5,536,852 25.0% 38 5,532,471 25% 37 4,541,820 30.1% 30 Morris County 3,111,266 10.4% 21 2,824,974 12.7% 17 3,209,824 14.5% 19 2,811,776 18.7% 17 Monmouth County 1,223,440 4.1% 10 987,472 4.5% 6 1,266,944 5.7% 9 1,266,944 8.4% 9 Other Assets 2,761,008 9.2% 21 1,724,406 7.8% 15 1,055,703 4.8% 9 463,100 3.1% 4 Flex Asset Totals 5,947,238 19.8% 113 5,897,238 26.6% 112 4,137,597 18.7% 75 3,491,612 23.2% 60 Portfolio Subtotals 18,272,115 60.9% 175 17,688,437 79.8% 163 16,505,352 74.4% 128 14,868,716 98.6% 106 Non-Core Joint Venture 5,456,887 18.2% 34 1,423,838 6.4% 4 199,223 0.9% 2 199,223 1.3% 2 White Plains 668,000 2.2% 5 704,300 3.2% 5 704,300 3.2% 5 0 0.0% 0 Paramus Area 3,023,076 10.1% 14 2,356,275 10.6% 12 669,701 3.0% 3 0 0.0% 0 Cranford Area 795,131 2.7% 8 0 0.0% 0 0 0.0% 0 0 0.0% 0 DC & Maryland 1,254,117 4.2% 9 0 0.0% 0 0 0.0% 0 0 0.0% 0 NYC 524,476 1.7% 1 0 0.0% 0 0 0.0% 0 0 0.0% 0 Exited Market Subtotals 11,721,687 39.1% 71 4,484,413 20.0% 21 1,573,224 7.1% 19 199,223 1.3% 2 OVERALL TOTALS 29,993,802 246 22,172,850 184 18,078,576 186 15,067,939 108

Under Contract/Negotiations Future Dispositions 2016 $1,116M $1,480M Q3 2017 73% of Total Goal $644M We have made significant progress toward completing our portfolio transformation via strategic disposition of non-core and JV assets and expect to finish our program in 2Q 2018 Disposition Strategy & Statistics 23 Q3 2017 Office Portfolio ($ in millions) Percent of Goal Buildings 2015 and 2016 $644 42% 28 2017 thru 3Q 472 30% 90 Under Contract/Negotiations 364 24% 26 Future Dispositions 69 4% 4 Total $1,549 100% 148 $1,549M Measuring our Progress: Office Disposition Goal To Date: In 2017, we executed $472 million of non-core office and flex asset sales. We have executed on $1.12 billion of sales since September 2015, bringing us to 73% of our total disposition goal Active: $364 million of non-core dispositions are under contract or negotiations Planned: Future dispositions of $69 million are comprised of $49 million currently on the market and another $20 million in future dispositions, scheduled for completion by 1H 2018

24 Q3 2017 Office Portfolio Leasing Highlights Rollforwards For the three months ended September 30, 2017 Percentage Leased Pct Impact of Impact of Pct SQ FT SQ FT Leased Acquisition/ Leasing Leased Leased Leased SQ FT 06/30/17 After Reclassification Disposition Activity 09/30/17 Commercial Tenants Service Tenants Unleased Waterfront 93.9% 0.0% 0.1% 94.0% 4,480,090 112,521 291,582 Urban Core 89.3% 0.0% 0.3% 89.6% 1,734,006 15,126 201,959 Suburban Core 85.0% 0.0% 0.0% 85.0% 3,708,143 152,050 681,627 Flex Parks 91.6% 0.2% (0.5%) 91.3% 3,161,086 28,343 302,183 Sub-Totals 90.2% 0.0% (0.1%) 90.1% 13,083,325 308,040 1,477,351 Non-Core 74.9% 1.2% (2.0%) 74.1% 2,171,560 22,486 765,185 TOTALS 86.8% 1.1% (0.5%) 87.4% 15,254,885 330,526 2,242,536 Pct. Leased Inventory Sq. Ft. Leased Inventory Space Leased Inventory Acquired/ Space Leased Acquired/ Expiring/ Incoming Net Leasing Inventory Sq. Ft. Leased Pct. Leased 06/30/17 06/30/17 06/30/17 Reclassed Reclassed Disposed Disposed Adj. Sq. Ft. Sq. Ft. Activity 09/30/17 09/30/17 09/30/17 Waterfront 93.9% 4,884,193 4,585,171 - - (5,070) 12,510 7,440 4,884,193 4,592,611 94.0% Urban Core 85.9% 2,573,391 2,211,175 (622,300) (469,397) - - (42,940) 50,294 7,354 1,951,091 1,749,132 89.6% Suburban Core 85.5% 4,293,720 3,669,917 248,100 189,021 - - (11,576) 12,831 1,255 4,541,820 3,860,193 85.0% Flex Parks 91.4% 5,887,938 5,384,461 (636,685) (571,760) (1,759,641) (1,586,507) (543,888) 507,123 (36,765) 3,491,612 3,189,429 91.3% Sub-Totals 89.9% 17,639,242 15,850,724 (1,010,885) (852,136) (1,759,641) (1,586,507) (603,474) 582,758 (20,716) 14,868,716 13,391,365 90.1% Repositioning(1) 70,878 Non-Core 72.3% 3,713,097 2,684,611 1,010,885 852,136 (1,764,751) (1,082,771) (353,856) 93,926 (259,930) 2,959,231 2,194,046 74.1% TOTALS 86.8% 21,352,339 18,535,335 - - (3,524,392) (2,669,278) (957,330) 747,562 (280,646) 17,827,947 15,585,411 87.4% Notes: Total square footage of transactions signed at properties being held for repositioning. Square footage not included in inventory, space leased or net leasing activity.

Leasing Transaction Activity 25 Q3 2017 Office Portfolio For the three months ended September 30, 2017 For the nine months ended September 30, 2017 Sq. Ft. Renewed Wtd. Avg. Wtd. Avg. Costs Number of Total Sq. Ft. and Other Average Weighted Avg. Base Sq. Ft. Transactions Sq. Ft. New Leases Retained Sq. Ft. Term (Yrs) Rent ($) Per Year ($) Waterfront 3 12,510 7,440 5,070 4,170 5.2 $49.81 $7.19 Urban Core 5 50,294 - 50,294 10,059 9.2 32.13 5.01 Suburban Core 3 12,831 2,866 9,965 4,277 6.3 26.43 4.99 Flex 31 507,123 26,387 480,736 16,359 10.8 22.01 1.56 Sub-Total 42 582,758 36,693 546,065 13,875 10.4 $23.58 $1.92 Repositioning 1 70,878 70,878 - 70,878 12.3 29.50 - Non-Core 8 93,926 45,494 48,432 11,741 7.6 27.62 3.00 TOTALS 51 747,562 153,065 594,497 14,658 10.2 $24.65 $2.03 Wtd. Avg. Wtd. Avg. Costs Number of Total Sq. Ft. Sq. Ft. Renewed Average Weighted Avg. Base Sq. Ft. Transactions Sq. Ft. New Leases and Other Retained Sq. Ft. Term (Yrs) Rent ($) Per Year ($) Waterfront 6 64,135 19,409 44,726 10,689 6.8 $46.60 $6.77 Urban Core 17 111,128 6,065 105,063 6,537 5.9 32.57 4.62 Suburban Core 16 87,568 39,555 48,013 5,473 6.7 27.03 5.25 Flex 69 1,142,626 141,309 1,001,317 16,560 7.9 18.76 1.44 Sub-Total 108 1,405,457 206,338 1,199,119 13,013 7.6 $21.64 $2.06 Repositioning 1 70,878 70,878 - 70,878 12.3 29.50 - Non-Core 44 361,548 61,980 299,568 8,217 6.5 26.88 2.60 TOTALS 153 1,837,883 339,196 1,498,687 12,012 7.6 $22.97 $2.16

26 Q3 2017 Significant Tenants Office Portfolio Notes: See supporting “Significant Tenants” notes on page 43 Percentage of Annualized Company Square Percentage Year of Number of Base Rental Annualized Base Feet Total Company Lease Properties Revenue ($) (1) Rental Revenue (%) Leased Leased Sq. Ft. (%) Expiration John Wiley & Sons, Inc. 1 15,397,650 3.6 410,604 2.7 (2) Bank Of Tokyo-Mitsubishi FUJI, Ltd. 1 11,388,534 2.7 282,606 1.9 (3) National Union Fire Insurance Company of Pittsburgh, PA 2 11,191,058 2.6 388,651 2.5 (4) Merrill Lynch Pierce Fenner 3 10,709,119 2.5 430,926 2.8 (5) Forest Research Institute, Inc. 1 9,070,892 2.1 215,659 1.4 2017 DB Services New Jersey, Inc. 2 9,066,698 2.1 213,881 1.4 (6) KPMG, LLP 3 8,322,199 2.0 231,102 1.5 (7) ICAP Securities USA, LLC 2 7,608,702 1.8 180,946 1.2 (8) Dun & Bradstreet Corporation 2 7,360,360 1.7 192,280 1.3 2023 Montefiore Medical Center 7 7,176,397 1.7 296,572 1.9 (9) TD Ameritrade Services Company, Inc. 1 6,632,175 1.6 193,873 1.3 2020 Daiichi Sankyo, Inc. 1 6,532,200 1.5 171,900 1.1 2022 HQ Global Workplaces, LLC 10 5,642,468 1.3 200,151 1.3 (10) Vonage America, Inc. 1 4,637,500 1.1 350,000 2.3 2023 Investors Bank 2 4,383,791 1.0 139,296 0.9 (11) Totals 125,119,743 29.3 3,898,447 25.5

Same Store 27 Q3 2017 Office Portfolio The current quarter same store results for our commercial portfolio show positive results, benefiting from improved rents $ in thousands 2017 2016 Change % Change Total Property Revenues $104,521 $101,599 $2,922 2.9 Real Estate Taxes 15,313 14,060 1,253 8.9 Utilities 8,477 8,886 (409) (4.6) Operating Services 16,273 16,731 (458) (2.7) Total Property Expenses: 40,063 39,677 386 1.0 GAAP Net Operating Income 64,458 61,922 2,536 4.1 Less: straight-lining of rents adj. (1,480) (2,814) 1,334 47.4 Net Operating Income $62,978 $59,108 $3,870 6.5 Total Properties: 125 Total Square Footage: 15,891,902 For the three months ended September 30, 2017 2017 2016 Change % Change Total Property Revenues $303,587 $292,250 $11,337 3.9 Real Estate Taxes 44,507 42,382 2,125 5.0 Utilities 23,564 24,199 (635) (2.6) Operating Services 50,030 48,598 1,432 2.9 Total Property Expenses: 118,101 115,179 2,922 2.5 GAAP Net Operating Income 185,486 177,071 8,415 4.8 Less: straight-lining of rents adj. (4,567) (7,632) 3,065 40.2 Net Operating Income $180,919 $169,439 $11,480 6.8 Total Properties: 124 Total Square Footage: 15,629,061 For the nine months ended September 30, 2017

28 Q3 2017 Office Portfolio Lease Expirations Percentage of Total Average Annualized Base Net Rentable Area Leased Square Feet Annualized Base Rent Per Net Rentable Percentage of Annual Year of Number of Subject to Expiring Represented by Rental Revenue Under Square Foot Represented Base Rent Under Expiration/Market Leases Expiring (1) Leases (Sq. Ft.) Expiring Leases (%) Expiring Leases ($) (2) by Expiring Leases ($) Expiring Leases (%) Oct - Dec 31, 2017 Waterfront 15 397,577 2.6 13,178,502 33.15 3.0 Urban Core 5 21,738 0.1 704,105 32.39 0.2 Suburban Core 13 215,836 1.4 7,587,145 35.15 1.8 Flex Parks 13 45,400 0.3 789,939 17.40 0.2 Sub-Total 46 680,551 4.4 22,259,691 32.71 5.2 Non-Core 19 89,374 0.6 1,815,806 20.32 0.4 TOTAL – 2017 65 769,925 5.0 24,075,497 31.27 5.6 2018 Waterfront 20 867,061 5.7 32,761,607 37.78 7.7 Urban Core 18 85,574 0.6 2,631,374 30.75 0.6 Suburban Core 29 277,732 1.8 7,510,878 27.04 1.8 Flex Parks 42 262,028 1.7 4,433,259 16.92 1.1 Sub-Total 109 1,492,395 9.8 47,337,118 31.72 11.2 Non-Core 56 518,658 3.4 12,481,054 24.06 2.9 TOTAL – 2018 165 2,011,053 13.2 59,818,172 29.74 14.1 2019 Waterfront 12 197,972 1.3 8,991,535 45.42 2.1 Urban Core 30 322,458 2.1 9,821,666 30.46 2.3 Suburban Core 32 403,823 2.7 11,135,206 27.57 2.6 Flex Parks 54 507,471 3.3 9,805,591 19.32 2.3 Sub-Total 128 1,431,724 9.4 39,753,998 27.77 9.3 Non-Core 28 182,879 1.2 4,575,757 25.02 1.1 TOTAL – 2019 156 1,614,603 10.6 44,329,755 27.46 10.4 2020 Waterfront 8 70,779 0.5 2,563,576 36.22 0.6 Urban Core 26 237,167 1.6 8,032,403 33.87 1.9 Suburban Core 30 262,379 1.7 6,582,672 25.09 1.6 Flex Parks 45 305,908 2.0 5,536,645 18.10 1.3 Sub-Total 109 876,233 5.8 22,715,296 25.92 5.4 Non-Core 45 356,472 2.3 8,933,215 25.06 2.1 TOTAL – 2020 154 1,232,705 8.1 31,648,511 25.67 7.5 2021 Waterfront 18 391,000 2.6 13,816,163 35.34 3.3 Urban Core 11 113,269 0.7 4,948,684 43.69 1.2 Suburban Core 19 183,967 1.2 5,196,649 28.25 1.2 Flex Parks 29 305,046 2.0 4,605,037 15.10 1.1 Sub-Total 77 993,282 6.5 28,566,533 28.76 6.8 Non-Core 36 224,355 1.5 5,252,541 23.41 1.2 TOTAL – 2021 113 1,217,637 8.0 33,819,074 27.77 8.0

29 Q3 2017 Office Portfolio Lease Expirations (Cont.) 2022 Waterfront 12 253,723 1.6 7,894,951 31.12 1.9 Urban Core 12 101,559 0.7 3,334,896 32.84 0.8 Suburban Core 27 243,130 1.6 6,383,492 26.26 1.5 Flex Parks 33 239,213 1.6 4,314,578 18.04 1.0 Sub-Total 84 837,625 5.5 21,927,917 26.18 5.2 Non-Core 28 229,034 1.5 5,481,184 23.93 1.3 TOTAL – 2022 112 1,066,659 7.0 27,409,101 25.70 6.5 2023 AND THEREAFTER Waterfront 62 2,301,978 15.1 77,665,349 33.74 18.4 Urban Core 37 852,241 5.6 31,032,846 36.41 7.3 Suburban Core 74 2,121,276 13.9 53,277,839 25.12 12.6 Flex Parks 81 1,496,020 9.8 25,885,383 17.30 6.1 Sub-Total 254 6,771,515 44.4 187,861,417 27.74 44.4 Non-Core 41 570,788 3.7 14,952,159 26.20 3.5 TOTAL – 2023 AND THEREAFTER 295 7,342,303 48.1 202,813,576 27.62 47.9 Percentage of Total Average Annualized Base Net Rentable Area Leased Square Feet Annualized Base Rent Per Net Rentable Percentage of Annual Year of Number of Subject to Expiring Represented by Rental Revenue Under Square Foot Represented Base Rent Under Expiration/Market Leases Expiring (1) Leases (Sq. Ft.) Expiring Leases (%) Expiring Leases ($) (2) by Expiring Leases ($) Expiring Leases (%) Percentage of Total Average Annualized Base Net Rentable Area Leased Square Feet Annualized Base Rent Per Net Rentable Percentage of Annual Year of Number of Subject to Expiring Represented by Rental Revenue Under Square Foot Represented Base Rent Under Expiration/Market Leases Expiring (1) Leases (Sq. Ft.) Expiring Leases (%) Expiring Leases ($) (2) by Expiring Leases ($) Expiring Leases (%) TOTALS BY TYPE Waterfront 147 4,480,090 29.4 $156,871,683 $35.02 37.0 Urban Core 139 1,734,006 11.4 60,505,974 34.89 14.3 Suburban Core 224 3,708,143 24.3 97,673,881 26.34 23.1 Flex Parks 297 3,161,086 20.7 55,370,432 17.52 13.1 Sub-Total 807 13,083,325 85.8 $370,421,970 $28.31 87.5 Non-Core 253 2,171,560 14.2 53,491,716 24.63 12.5 Totals/Weighted Average 1,060 15,254,885 (3) 100.0 $423,913,686 $27.79 100.0 Expirations by Type Expirations by Year (Cont.) Notes: See supporting “Expirations” notes on page 43

Management Discussion & Objectives 31 Q3 2017 Roseland manages a dynamic portfolio of owned, under construction, and future development assets on the New Jersey Waterfront, with the remaining holdings primarily in high-income, transit oriented suburban locations. We are a premier owner and developer of residential real estate on the New Jersey waterfront with direct access to Hudson Yards and Brookfield Place Roseland Residential Platform Poised For Continued Growth: Subsequent to quarter-end, the Company reached an agreement to acquire an approved residential development site in the Jersey City waterfront submarket adjacent to our existing holdings. We are projecting a mid-November closing and mid-2018 construction start for the 749-unit community, which will also include a school and a below market 20-year tax abatement RRT’s Q3 NAV was approximately $1.63B, comprised of $156M of Rockpoint equity and $1.47B of MC equity ($14.60/share) Rockpoint has an additional $150M capital commitment to Roseland RRT’s subordinate interest portfolio was reduced to 542 apartments (82% reduction compared to 3,025 units at year-end 2015) RRT continues to succeed in converting under performing office holdings to higher valued residential use (i.e. Signature Place in Morris Plains, NJ) RRT has a portfolio of strategic and valuable land holdings, mostly with zoning in place and a track record of on-time and on-budget product delivery Jersey City – 4,350 units Port Imperial – 2,026 units RRT’s lease-up communities have absorbed quickly in the market. Rents in our stabilized Jersey City holdings grew by 1.5% over the last year despite the simultaneous lease-up of several adjacent luxury buildings As detailed on page 33, we forecast continuing growth in RRT cash flow 2017 Lease-Up Highlights % Leased (Current) Stabilized NOI Stabilized Cash Flow Urby 95% $18.5M $9.85M Chase II 98% $4.9M $2.70M Quarry Place 76% $3.2M $1.11M Jersey City Urby at Harborside Quarry Place at Tuckahoe

Roseland envisions continued improvement across key financial metrics 32 Q3 2017 Management Discussion & Objectives (cont.) Roseland Residential Competitive Portfolio Metrics: Roseland’s high-barrier-to-entry class A portfolio is at the forefront of characteristics supportive of market-leading property valuations and comparable/superior to leading publicly traded residential REITs: (i) Market Rents: Average revenue per home of $2,621 (ii) Building Age: Average age of 10 years (and trending lower) (iii) Gateway Markets: Approximately 87% of the portfolio Target Portfolio: Our targeted start activity through 2018 of approximately 2,000 apartments will produce an operating and in-construction portfolio at year-end 2018 of approximately 10,220 apartments, with forecasted growth to 11,763 apartments by year-end 2019 Projected Y/E: 2017 2018 2019 Operating & Construction Apts. 8,486 10,217 11,763 Future Development Apts. 9,577 7,846 6,300 Property Operating Cash Flow ($ in millions) $28.5 $47.9 $71.7 % Growth - 116% 29% NAV ($ in millions) $1,674 $2,047 $2,458 Growth 39% $0 $20 $40 $60 $80 2017 2018 2019 Property Operating Cash Flow ($ in millions) 0 5,000 10,000 15,000 2017 2018 2019 Operating In Construction

2015/2016 Achievements - Development Development Activity and Cash Flow Growth 33 Q3 2017 Lease-Up Commencements Began Leasing % Leased As of 10/31/2017 Units Projected Yield Projected Stabilized RRT Cash Flow Quarry Place at Tuckahoe Nov-16 75.9% 108 6.61% $1.1 Chase II at Overlook Ridge Nov-16 97.9% 292 6.52% $2.7 Urby at Harborside Mar-17 95.0% 762 7.27% $9.9 Total 94.6% 1,162 7.02% $13.7 In-Construction Portfolio Signature Place at Morris Plains Q1 2018 197 6.64% $2.3 Residences at City Square Q1 2018 365 6.46% $3.7 Lofts at 40 Park Q1 2018 59 6.72% $0.2 RiverHouse 11 at Port Imperial Q1 2018 295 6.20% $4.4 Portside 5/6 Q1 2018 296 6.18% $4.0 Marriott Hotels at Port Imperial Q2 2018 372 10.25% $9.2 233 Canoe Brook (Apartments) Q4 2019 200 6.45% $3.0 51 Washington Street Q1 2020 310 6.00% $2.9 150 Monument Road Q1 2020 206 6.14% $2.1 Total 2,300 6.93% (1) $31.8 Total 3,462 6.96% $45.5 By year-end 2020, Roseland projects additional annual cash flow contribution of approximately $45.5 million from its current lease-up and in-construction development activities RiverHouse 11 at Port Imperial Chase II at Overlook Ridge Roseland Residential Note: Projected stabilized yield without the Marriott Hotels at Port Imperial is 6.30 percent. $ in millions (unaudited)

Financial Schedules – Balance Sheet 35 Q3 2017 Roseland Residential $ in thousands, except per share amounts (unaudited) Notes: See supporting “RRT Balance Sheet” notes on page 44 ROSELAND RESIDENTIAL, L.P. CONSOLIDATED BALANCE SHEET AS OF AS OF SEP 30, 2017 DEC 31, 2016 ASSETS Rental Property Land and leasehold interests 335,382 210,697 Buildings and improvements 909,339 582,361 Construction in Progress 331,574 217,920 Furniture, Fixtures and Equipment 25,608 18,312 Total Gross Rental Property 1,601,903 1,029,290 Less: Accumulated Depreciation (48,542) (41,186) Net Investment in Rental Property 1,553,361 988,104 Assets Held for Sale, Net 2,311 - Total Property Investments 1,555,672 988,104 Cash and cash equivalents 8,288 17,186 Investments in unconsolidated JV's 223,628 238,498 Unbilled rents receivable, net 1,512 165 Deferred Charges & Other Assets 46,564 33,736 Restricted Cash 6,392 3,280 Accounts receivable, net of allowance 2,086 3,559 Total Assets 1,844,142 1,284,528 LIABILITIES & EQUITY LIABILITIES Mortgages, loans payable & other obligations 698,807 283,104 Note Payable to Affiliate 10,329 - Accounts pay, accrued exp and other liabilities 71,499 36,945 Rents recv'd in advance & security deposits 3,871 2,406 Accrued interest payable 1,588 420 Total Liabilities 786,094 322,875 Redeemable Noncontrolling Interest - Rockpoint 156,746 - Noncontrolling Interests in Consolidated Joint Ventures 19,172 20,707 Mack-Cali Capital 882,130 940,946 Total Liabilities & Equity 1,844,142 1,284,528

Financial Schedules – Income Statement 36 Q3 2017 Roseland Residential Notes: See supporting “RRT Income Statement” notes on page 44 $ in thousands, except per share amounts (unaudited) Three Months Ended Nine Months Ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 REVENUE: Base Rents $16,147 $9,739 $41,012 $27,721 Escalation & Recoveries from Tenants 705 357 1,751 980 Real Estate Services 5,218 5,956 16,125 17,748 Parking Income 2,168 1,792 5,981 5,031 Other Income 585 50 1,505 726 Total Revenue $24,823 $17,894 $66,374 $52,206 EXPENSES: Real Estate Taxes $3,013 $1,929 $8,323 $6,080 Utilities 1,081 770 2,699 2,057 Operating Services 3,771 2,827 10,850 8,714 Real Estate Service Salaries 6,006 6,195 17,837 18,901 General and Administrative 2,918 2,273 8,250 8,242 Acquisition Costs - - - 164 Depreciation and Amortization 10,997 7,314 25,731 19,653 Total Expenses $27,786 $21,308 $73,690 $63,811 Operating Income ($2,963) ($3,414) ($7,316) ($11,605) OTHER (EXPENSE) INCOME: Interest Expense ($2,164) ($1,982) ($4,167) ($5,008) Interest and other investment income 42 - 102 1 Equity in Earnings (loss) in Unconsolidated JV's (2,591) (697) (6,335) (3,947) Gain on Change of Control of Interests - - - 15,347 Gain (loss) on Sale of Investment in Unconsolidated JV's (1,430) - 3,719 5,670 Total Other (Expense) Income ($6,142) ($2,679) ($6,681) $12,063 Income from Continuing Operations ($9,106) ($6,093) ($13,997) $458 Discontinued Operations (Net) Realized Gain/(Loss) on Asset Disposition $2,915 ($472) $2,915 ($472) Net Income (Loss) ($6,191) ($6,565) ($11,082) ($14) Noncontrolling Interest in Consolidated JV's 67 60 471 822 Redeemable Noncontrolling Interest Distributions (2,227) - (4,982) - Net Income (Loss) Available to Common Equity ($8,351) ($6,505) ($15,593) $808

Sources have reported +23,000 unit development hitting Jersey City in the near future. In fact, this is only the potential numbers which include secondary locations, some without streets or utilities Regional: Hudson Waterfront Jersey City- Continued Growth 38 Q3 2017 Roseland Residential To date, the market has successfully absorbed ~10,000 units, while maintaining strong occupancy and rent growth Of the 14,000 remaining development inventory, secondary sub-markets make up approximately 9,000 (64%) of the units Roseland has land holdings of approximately 3,500 units in the Exchange Place submarket and an additional 850 units at Liberty Harbor Jersey City Urby at Harborside - 762 units - opened in March 2017. As of October 31, 2017, it was 95% leased. Of the ~7,000 units approved for future development, approximately 43% are in the process of leasing up Jersey City Current Lease-up Schedule Leasing Commenced Units Current % Leased Units Leased Developer VYV Sep-17 421 7% ~30 Forest City The Vantage Jul-17 448 ~30% ~135 Fisher Ellipse Apr-17 381 - - Lefrak Urby Mar-17 762 95% 726 Roseland Journal Squared Mar-17 538 ~80% ~430 Kushner Trump Bay Street Dec-16 447 ~84% ~420 Morgan Street Total 2,997 Waterfront Exchange Place Jersey City and its Premier Markets Premier Markets The Company has a Dominant Market Presence

Operating & Lease-Up Communities As of September 30, 2017, Roseland’s operating community highlights include: Interests in 4,131 stabilized operating apartments and 1,695 apartments in lease-up or repositioning stages (Total: 5,826 apartments) The stabilized portfolio had a leased percentage of 97.4%, compared to 97.9% in Q2 2017 Leasing summary: The Chase II at Overlook Ridge, MA began leasing in November 2016 and was 97.3% leased (stable) at quarter-end Jersey City Urby at Harborside, began leasing in March 2017, and was 90.8% leased as of Q3 2017 (current: 95%) Quarry Place at Tuckahoe, NY was 68.5% leased as of Q3 2017 (current: 76%) Roseland continues to convert its promoted interests via disposition, acquisition or ownership buy-ups. 2017 achievements include: Quarry Place at Tuckahoe: Roseland acquired its partners’ minority interests, converting the asset to 100% ownership Monaco, Jersey City, NJ: Roseland acquired its partners’ majority and minority interests. Converting a 15% subordinate interest position to a wholly owned asset In addition to its residential interests, Roseland has a series of commercial interests, most significantly of which are the parking garages located in Port Imperial 39 Q3 2017 Roseland Residential

$ in thousands Operating & Lease-Up Communities 40 Q3 2017 Roseland Residential Notes: See supporting “Operating & Lease-Up Communities” notes on page 44 Operating Highlights Average Average Percentage Percentage Revenue Revenue Rentable Avg. Year Leased Leased Per Home Per Home NOI NOI NOI Debt Operating Communities Location Ownership Apartments SF Size Complete Q3 2017 Q2 2017 Q3 2017 Q2 2017 Q3 2017 Q2 2017 YTD 2017 Balance Consolidated Alterra at Overlook Ridge Revere, MA 100.00% 722 663,139 918 2008 97.9% 97.8% $1,911 $1,890 $2,107 $2,365 $6,847 $100,000 The Chase at Overlook Ridge Malden, MA 100.00% 372 337,060 906 2014 97.6% 98.4% 1,913 1,962 1,109 1,109 3,702 72,500 The Chase II at Overlook Ridge Malden, MA 100.00% 292 261,101 894 2016 97.3% 77.7% 1,939 1,927 876 382 1,079 46,167 Park Square Rahway, NJ 100.00% 159 184,957 1,163 2009 95.0% 93.7% 2,046 2,104 327 368 1,080 26,917 Riverwatch New Brunswick, NJ 100.00% 200 147,852 739 1997 95.5% 97.0% 1,847 1,826 466 501 1,412 0 Monaco Jersey City, NJ 100.00% 523 475,742 910 2011 98.3% 98.3% 3,576 3,549 3,799 3,724 11,345 165,000 Portside at East Pier - 7 East Boston, MA 100.00% 175 156,091 892 2015 97.8% 100.0% 2,739 2,701 1,008 986 2,951 58,998 Consolidated 100.00% 2,443 2,225,942 911 97.5% 95.4% $2,334 $2,327 $9,692 $9,435 $28,416 $469,582 Joint Ventures RiverTrace at Port Imperial West New York, NJ 22.50% 316 295,767 936 2014 97.8% 99.1% $3,211 $3,208 $1,833 $1,784 $5,434 $82,000 M2 Jersey City, NJ 24.27% 311 273,132 878 2016 98.4% 97.1% 3,234 3,164 2,014 1,992 5,919 74,690 RiverPark at Harrison Harrison, NJ 45.00% 141 125,498 890 2014 96.5% 97.2% 2,165 2,156 342 402 1,262 30,000 Station House Washington, DC 50.00% 378 290,348 768 2015 95.8% 97.9% 2,727 2,715 1,988 1,944 6,070 100,449 Joint Ventures 34.82% 1,146 984,745 859 97.1% 97.9% $2,929 $2,904 $6,177 $6,122 $18,685 $287,139 Subordinate Interests(1) Marbella Jersey City, NJ 24.27% 412 369,515 897 2003 97.6% 98.1% $3,217 $3,226 $2,450 $2,600 $7,677 $95,000 Metropolitan at 40 Park Morristown, NJ 12.50% 130 124,237 956 2010 97.7% 99.2% 3,406 3,403 761 855 2,351 37,044 Subordinate Interests 21.45% 542 493,752 911 97.6% 98.4% $3,262 $3,268 $3,211 $3,455 $10,028 $132,044 Total Residential - Stabilized 71.61% 4,131 3,704,439 897 97.4% 96.5% $2,621 $2,611 $19,080 $19,012 $57,129 $888,765 Lease-up / Repositions Consolidated Quarry Place at Tuckahoe Eastchester, NY 100.00% 108 105,509 977 2016 68.5% 58.3% $3,236 $3,355 $173 $59 $71 $41,000 Consolidated 100.00% 108 105,509 977 68.5% 58.3% $3,236 $3,355 $173 $59 $71 $41,000 Joint Ventures Crystal House (2) Arlington, VA 25.00% 825 738,786 895 1962 93.7% 90.9% 2,072 2,017 2,881 2,299 7,427 $165,000 Urby at Harborside Jersey City, NJ 85.00% 762 474,476 623 2017 90.8% 66.5% 2,852 NA 2,369 (519) 1,850 187,893 Joint Ventures 53.81% 1,587 1,213,262 765 92.3% 79.2% $2,447 $1,049 $5,250 $1,780 $9,277 $352,893 Total Residential - Operating Communities (3) 67.29% 5,826 5,023,210 862 95.48% 91.07% $2,585 $2,199 $24,503 $20,851 $66,477 $1,282,658 Total Commercial 76.72% 731,862 69.33% 69.33% $1,255 $1,225 $3,617 $42,813

In-Construction Communities 41 Q3 2017 Roseland Residential The in-construction portfolio is projected to produce stabilized NOI of $55 million; Roseland’s average ownership is approximately 96% After projected debt service of approximately $22 million, Roseland’s estimated share of net cash flow is approximately $32 million $ in thousands Notes: See supporting “In-Construction Communities” notes on page 44 Third Projected Projected Apartment MCRC Party Debt MCRC Initial Project Stabilized Stabilized Community Location Ownership Homes/Keys Costs Debt (1) Capital Capital Costs Balance Capital Start Occupancy Stabilization NOI Yield Consolidated Marriott Hotels at Port Imperial Weehawken, NJ 90.00% 372 139,428 94,000 41,868 3,560 87,565 $30,991 41,868 Q3 2015 Q2 2018 Q3 2019 14,291 10.25% Residences at City Square Worcester, MA 100.00% 365 92,015 58,000 34,015 0 70,570 27,798 34,015 Q3 2015 Q1 2018 Q2 2019 5,942 6.46% Signature Place at Morris Plains Morris Plains, NJ 100.00% 197 58,651 42,000 16,651 0 45,046 22,668 16,651 Q4 2015 Q1 2018 Q1 2019 3,894 6.64% Portside 5/6 East Boston, MA 100.00% 296 111,388 73,000 38,388 0 81,046 31,987 38,388 Q4 2015 Q1 2018 Q2 2019 6,882 6.18% RiverHouse 11 at Port Imperial Weehawken, NJ 100.00% 295 123,984 78,000 45,984 0 72,821 37,827 34,353 Q1 2016 Q1 2018 Q2 2019 7,693 6.20% 51 Washington Street Conshohocken, PA 100.00% 310 89,440 53,664 35,776 0 22,854 0 22,811 Q3 2016 Q1 2020 Q2 2021 5,370 6.00% 233 Canoe Brook (Apts) Short Hills, NJ 100.00% 200 92,882 61,000 31,882 0 15,965 0 13,703 Q4 2016 Q4 2019 Q1 2021 5,989 6.45% 150 Monument Road Bala Cynwyd, PA 100.00% 206 59,308 35,585 23,723 0 7,125 0 7,125 Q4 2016 Q1 2020 Q2 2021 3,643 6.14% Consolidated 98.34% 2,241 $767,096 $495,249 $268,287 $3,560 $402,992 $151,271 $208,914 $53,704 6.94% Joint Ventures Lofts at 40 Park Morristown, NJ 25.00% 59 17,972 13,950 2,011 2,011 9,688 6,337 1,740 Q3 2016 Q1 2018 Q1 2019 1,208 6.72% Joint Ventures 25.00% 59 $17,972 $13,950 $2,011 $2,011 $9,688 $6,337 $1,740 $1,208 6.72% Total In-Construction Communities 96.46% 2,300 $785,068 $509,199 $270,298 $5,571 $412,680 $157,608 $210,654 $54,912 6.93% (2) Development Schedule Project Capitalization - Total Capital as of 3Q-17

Future Start Communities 42 Q3 2017 Roseland Residential As of September 30, 2017, the Company had a future development portfolio of approximately 9,937 apartments 2017 target starts are located in close proximity to operating RRT assets or in premier suburban markets Notes: Approved for approximately 290,000 square feet of office space. Future Developments Location Apartments Approval PI South - Building 16 Weehawken, NJ 131 Partial PI South - Office 1/3 (1) Weehawken, NJ N/A Partial PI South - Park Parcel Weehawken, NJ 224 Partial Urby at Harborside - II Jersey City, NJ 750 Partial Urby at Harborside - III Jersey City, NJ 750 Partial Plaza 8 Jersey City, NJ 675 Partial Plaza 9 Jersey City, NJ 1,325 Partial Liberty Landing Phase I Jersey City, NJ 265 Partial Liberty Landing - Future Phases Jersey City, NJ 585 Partial PI South - Building 2 Weehawken, NJ 200 Partial PI North - Riverbend 6 West New York, NJ 471 Fully PI North - Building I West New York, NJ 224 Partial PI North - Building J West New York, NJ 141 Partial Subtotal – Hudson Waterfront 5,741 Future Developments Location Apartments Approval 233 Canoe Brook Road - Hotel Short Hills, NJ 240 Partial Freehold Freehold, NJ 400 Partial 1633 Littleton (repurposing) Parsippany, NJ 345 None Identified Repurposing I Essex County, NJ 300 None RRT Repurposing II Westchester County, NY 290 None Identified Repurposing IIIA Essex County, NJ 140 None Identified Repurposing IIIB Essex County, NJ 140 None Subtotal - Northeast Corridor 1,855 Overlook IIIA Malden, MA 445 Partial Overlook IV Malden, MA 45 Partial Portside 1-4 East Boston, MA 300 Partial Subtotal - Boston Metro 790 4Q-17 Starts 360 1Q-18 Starts 639 Total Future Start Communities 9,937 Q4 2017 Starts Location Apartments Approval PI North - Building C West New York, NJ 360 Completed Q4 2017 Starts 360 Q1 2018 Starts Overlook IIIC Malden, MA 326 Completed PI South - Building 8/9 Weehawken, NJ 313 Completed Q1 2018 Starts 639 Crystal House – III Arlington, VA 252 Fully Crystal House – Future Arlington, VA 300 None Subtotal – Washington, DC 552

Appendix Key Metrics - (Page 8) Includes any outstanding preferred units presented on a converted basis into common units, non-controlling interests in consolidated joint ventures and redeemable non-controlling interests. Funds from operations (“FFO”) is calculated in accordance with the definition of the National Association of Real Estate Investment Trusts (NAREIT). See “Information About FFO, Core FFO and AFFO” on page 10 Percentage leased includes leases in effect as of the period end date, some of which have commencement dates in the future and leases that expire at the period end date. Reflects square feet leased at the Company’s consolidated in-service portfolio, excluding in-service properties in lease up (if any). Excludes non-core properties identified at each period. Non-Core properties are identified as those being considered for repositioning, redevelopment or potential sale/dispositions. Calculated based on shares and units included in basic per share/unit computation, plus dilutive Common Stock Equivalents (i.e. convertible preferred units, options and warrants). Debt Statistics - (Page 18) Mack-Cali’s senior unsecured debt is rated BBB-/Baa3/BB+ by S&P, Moody’s and Fitch respectively. Includes the cost of terminated treasury lock agreements (if any), offering and other transaction costs and the discount/premium on the notes, as applicable. Reflects effective rate of debt, including deferred financing costs, comprised of the cost of terminated treasury lock agreements (if any), debt initiation costs, mark-to-market adjustment of acquired debt and other transaction costs, as applicable. Debt Breakdown and Repayments - (Page 19) The actual weighted average LIBOR rate for the Company’s outstanding variable rate debt was 1.23 percent as of September 30, 2017, plus the applicable spread. Excludes amortized deferred financing costs primarily pertaining to the Company’s unsecured revolving credit facility which amounted to $0.8 million and $2.6 million for the three and nine months ended September 30, 2017. Significant Tenants - (Page 26) Annualized base rental revenue is based on actual September 2017 billings times 12. For leases whose rent commences after October 1, 2017, annualized base rental revenue is based on the first full month’s billing times 12. As annualized base rental revenue is not derived from historical GAAP results, historical results may differ from those set forth above. 17,976 square feet expire in 2017; 102,275 square feet expire in 2018; 290,353 square feet expire in 2033. 20,649 square feet expire in 2018; 24,607 square feet expire in 2019; 237,350 square feet expire in 2029. 271,533 square feet expire in 2018; 117,118 square feet expire in 2019. 9,356 square feet expire in 2019; 33,363 square feet expire in 2021; 388,207 square feet expire in 2027. 87,965 square feet expire in 2017; 125,916 square feet expire in 2019. 81,371 square feet expire in 2019; 28,784 square feet expire in 2022; 66,606 square feet expire in 2024; 54,341 square feet expire in 2026. 69,384 square feet expire in 2017; 90,450 square feet expire in 2018; 21,112 square feet expire in 2025. 650 square feet expire in 2017; 295,922 square feet expire in 2032. 41,549 square feet expire in 2019; 17,855 square feet expire in 2021; 38,930 square feet expire in 2023; 66,014 square feet expire in 2024; 20,395 square feet expire in 2026; 15,408 square feet expire in 2027. 56,360 square feet expire in 2019; 82,936 square feet expire in 2026. Expirations - (Page 28-29) Includes office, office/flex, industrial/warehouse and stand-alone retail property tenants only. Excludes leases for amenity, retail, parking and month-to-month tenants. Some tenants have multiple leases. Annualized base rental revenue is based on actual September 2017 billings times 12. For leases whose rent commences after October 1, 2017 annualized base rental revenue is based on the first full month’s billing times 12. As annualized base rental revenue is not derived from historical GAAP results, historical results may differ from those set forth above. Includes leases in effect as of the period end date, some of which have commencement dates in the future, and leases expiring September 30, 2017 aggregating 447,864 square feet and representing annualized base rent of $14,216,456 for which no new leases were signed. 43

Appendix - Continued RRT Balance Sheet - (Page 35) Increase primarily resulting from acquisition of Plaza 8 and 9 interests ($61 million), the acquisition of the Monaco interests ($302 million), in-construction development and repurposing expenditures ($200 million), and the transfer of 135 Chestnut, 120 Passaic and One Water Street to RRT ($9 million). Increase primarily resulting from Alterra I and II financing ($100 million), assumed Monaco debt ($171 million), refinancing of Quarry Place ($13 million) and construction loan advances ($133 million). RRT Income Statement - (Page 36) Includes net operating income before debt service from Consolidated Operating Communities of $11.2 million and $6.6 million, depreciation of $7.0 million and $3.4 million and amortization of in-place leases related to property acquisitions of $3.5 and $2.8 million for the three months ended September 30, 2017 and September 30, 2016, respectively. Includes net operating income before debt service from Consolidated Operating Communities of $28.1 million and $19.4 million, depreciation of $18.1 million and $9.8 million and amortization of in-place leases related to property acquisitions of $6.9 million and $6.6 million for the nine months ended September 30, 2017 and September 30, 2016, respectively. Operating & Lease-up Communities - (Page 40) As of September 30, 2017 Priority Capital included Marbella at $7,567 (Prudential); Metropolitan at $22,021 (Prudential). Percentage Leased excludes 5 units undergoing renovation. Excludes approximately 83,083 SF of ground floor retail. In-Construction Communities - (Page 41) Represents maximum loan proceeds Projected stabilized yield without the hotel project is 6.30 percent 44

Global Definitions 45 Q3 2017 Average Revenue Per Home: Calculated as total apartment revenue for the quarter ended September 30, 2017, divided by the average percent occupied for the quarter ended September 30, 2017, divided by the number of apartments and divided by three. Predevelopment Communities: Communities where the Company has commenced predevelopment activities that have a near-term projected project start. Consolidated Operating Communities: Wholly owned communities and communities whereby the Company has a controlling interest. Project Completion: As evidenced by a certificate of completion by a certified architect or issuance of a final or temporary certificate of occupancy. Flex Parks: Primarily office/flex properties, including any office buildings located within the respective park. Project Stabilization: Lease-Up communities that have achieved over 95 Percentage Leased for six consecutive weeks. Future Development: Represents land inventory currently owned or controlled by the Company. Projected Stabilized NOI: Pro forma NOI for Lease-Up, In-Construction or Future Development communities upon achieving Project Stabilization. Identified Repurposing Communities: Communities not currently owned by RRT, which have been identified for transfer from Mack-Cali to RRT for residential repurposing. Projected Stabilized Yield: Represents Projected Stabilized NOI divided by Total Costs. In-Construction Communities: Communities that are under construction and have not yet commenced initial leasing activities. Repurposing Communities: Commercial holdings of the Company which have been targeted for rezoning from their existing office to new multi-family use and have a likelihood of achieving desired rezoning and project approvals. Lease-Up Communities: Communities that have commenced initial operations but have not yet achieved Project Stabilization. Subordinated Joint Ventures: Joint Venture communities where the Company's ownership distributions are subordinate to payment of priority capital preferred returns. MCRC Capital: Represents cash equity that the Company has contributed or has a future obligation to contribute to a project. Suburban Core: Long-term hold office properties (excluding Urban Core and Waterfront locations). Net Asset Value (NAV): The metric represents the net projected value of the Company’s interest after accounting for all priority debt and equity payments. The metric includes capital invested by the Company. Third Party Capital: Capital invested by third parties and not Mack-Cali. Net Operating Income (NOI): Total property revenues less real estate taxes, utilities and operating expenses Total Costs: Represents full project budget, including land and developer fees, and interest expense through Project Completion. Non-Core: Properties designated for eventual sale/disposition or repositioning/redevelopment. Urban Core: Long-term hold office properties in targeted submarkets. Operating Communities: Communities that have achieved Project Stabilization. Waterfront: Office assets located on NJ Hudson River waterfront.

46 Q3 2017 Analysts, Company Information and Executive Officers Equity Research Coverage Bank of America Merrill Lynch Citigroup Green Street Advisors SunTrust Robinson Humphrey, Inc. James C. Feldman / Scott Freitag Michael Bilerman / Emmanuel Korchman Jed Reagan Michael R. Lewis (646) 855-5808 / (646) 855-3197 (212) 816-1383 / (212) 816-1382 (949) 640-8780 (212) 319-5659 Barclays Capital Deutsche Bank North America JP Morgan Ross L. Smotrich / Trevor Young Vincent Chao Anthony Paolone (212) 526-2306 / (212) 526-3098 (212) 250-6799 (212) 622-6682 BTIG, LLC Evercore ISI Stifel Nicolaus & Company, Inc. Thomas Catherwood / James Sullivan Steve Sakwa John Guinee / Erin Aslakson (212) 738-6140 / (212) 738-6139 (212) 446-9462 (443) 224-1307 / 443-224-1350 Company Information Corporate Headquarters Stock Exchange Listing Contact Information Mack-Cali Realty Corporation New York Stock Exchange Mack-Cali Realty Corporation Harborside 3, 210 Hudson St., Ste. 400 Investor Relations Department Jersey City, New Jersey 07311 Trading Symbol Harborside 3, 210 Hudson St., Ste. 400 (732) 590-1010 Common Shares: CLI Jersey City, New Jersey 07311 Phone: (732) 590-1025 Fax: (201) 434-4707 E-Mail: dcrockett@mack-cali.com Web: www.mack-cali.com Executive Officers Michael J. DeMarco Marshall Tycher Mitchell E. Rudin Anthony Krug Chief Executive Officer Chairman, Roseland Residential Trust Vice Chairman Chief Financial Officer Andrew Marshall Gary Wagner Ricardo Cardoso Christopher DeLorenzo President and Chief Operating Officer, Roseland Residential Trust General Counsel and Secretary EVP and Chief Investment Officer Executive Vice President, Leasing Any opinions, estimates, forecasts or predictions regarding Mack-Cali Realty Corporation's performance made by these analysts are theirs alone and do not represent opinions, estimates, forecasts or predictions of Mack ? Cali Realty Corporation or its management. Mack-Cali does not by its reference above or distribution imply its endorsement of or concurrence with such opinions, estimates, forecasts or predictions. Deidre Crockett, Vice President of Corporate Communications and Investor Relations

DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS The Company considers portions of this information, including the documents incorporated by reference, to be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of such act. Such forward-looking statements relate to, without limitation, our future economic performance, plans and objectives for future operations and projections of revenue and other financial items. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “potential,” “projected,” “should,” “expect,” “anticipate,” “estimate,” “target”, “continue” or comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which we cannot predict with accuracy and some of which we might not even anticipate. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, the Company can give no assurance that such expectations will be achieved. Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Among the factors about which the Company has made assumptions are: -risks and uncertainties affecting the general economic climate and conditions, which in turn may have a negative effect on the fundamentals of the Company’s business and the financial condition of the Company’s tenants and residents; -the value of the Company’s real estate assets, which may limit the Company’s ability to dispose of assets at attractive prices or obtain or maintain debt financing secured by our properties or on an unsecured basis; -the extent of any tenant bankruptcies or of any early lease terminations; -The Company’s ability to lease or re-lease space at current or anticipated rents; -changes in the supply of and demand for the Company’s properties; -changes in interest rate levels and volatility in the securities markets; -The Company’s ability to complete construction and development activities on time and within budget, including without limitation obtaining regulatory permits and the availability and cost of materials, labor and equipment; -forward-looking financial and operational information, including information relating to future development projects, potential acquisitions or dispositions, and projected revenue and income; -changes in operating costs; -The Company’s ability to obtain adequate insurance, including coverage for terrorist acts; -The Company’s credit worthiness and the availability of financing on attractive terms or at all, which may adversely impact our ability to pursue acquisition and development opportunities and refinance existing debt and the Company’s future interest expense; -changes in governmental regulation, tax rates and similar matters; and -other risks associated with the development and acquisition of properties, including risks that the development may not be completed on schedule, that the tenants or residents will not take occupancy or pay rent, or that development or operating costs may be greater than anticipated. For further information on factors which could impact us and the statements contained herein, see Item 1A: Risk Factors in MCRC’s Annual Report on Form 10-K for the year ended December 31, 2016. We assume no obligation to update and supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise. This Supplemental Operating and Financial Data is not an offer to sell or solicitation to buy any securities of the Mack-Cali Reality Corporation (“MCRC”). Any offers to sell or solicitations of the MCRC shall be made by means of a prospectus. The information in this Supplemental Package must be read in conjunction with, and is modified in its entirety by, the Quarterly on Form 10-Q (the “10-Q”) filed by the MCRC for the same period with the Securities and Exchange Commission (the “SEC”) and all of the MCRC’s other public filings with the SEC (the “Public Filings”). In particular, the financial information contained herein is subject to and qualified by reference to the financial statements contained in the 10-Q, the footnotes thereto and the limitations set forth therein. Investors may not rely on the Supplemental Package without reference to the 10-Q and the Public Filings. Any investors’ receipt of, or access to, the information contained herein is subject to this qualification. 47 Q3 2017