Company Overview 4 4Q 2017 Corporate Profile Mack-Cali (CLI) is a fully integrated REIT with a dual asset platform comprised of core office and growing residential holdings. 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 in targeted markets with a continuous focus on improving the quality of our office portfolio. Mack-Cali’s residential portfolio, via our Roseland Residential platform, is a market-leading residential developer and owner of Class A properties. We expect continued growth and cash flow contribution from our Roseland holdings as our development pipeline of active construction projects and planned starts is put into service. Company Highlights Urby Harborside, Jersey City, NJ (Stabilized) Key Statistics 4Q 2017 3Q 2017 Company Market Capitalization $5.2 billion $5.5 billion Net Asset Value (Midpoint) $3.8 billion $3.7 billion Core FFO $50.2 million $57.8 million Core FFO Per Diluted Share $0.50 $0.57 AFFO $37.7 million $39.6 million Office Portfolio Square Feet of Office Space 17.1 million 17.9 million Consolidated In-Service Properties 142 147 % Leased Office (Excl. Non-Core) 87.6% 90.1% GAAP Rental Rate Roll-Up (Excl. Non-Core) 17.9% 14.6% Cash Rental Rate Roll-Up (Excl. Non-Core) 9.6% -0.6% Residential Portfolio Operating Residential Units 5,826 5,826 % Leased for Stabilized Residential 96.6% 97.4% In-Construction Residential Units/Keys(1) 1,944 2,300 Notes: Change in unit count reflects the addition of Riverwalk C, which commenced construction in December 2017, as well as the removal of Roseland’s Philadelphia projects and 233 Canoe Brook as the Company evaluates options for those projects.

5 4Q 2017 Company Highlights Fourth Quarter 2017 Highlights: Achieved Core FFO of $50.2 million, or $0.50 per share Produced AFFO of $37.7 million Office: Leased 439,070 square feet of office space; finished 4Q 2017 at 87.6% leased (excluding non-core) Residential: Finished 4Q at 96.6% leased at an average rent per home of $2,662 Consolidated operations across our 1,386-unit Overlook Ridge community, generating margin and NOI improvement Acquisitions: The Company acquired 25 Christopher Columbus, an approved residential development site in the Jersey City waterfront submarket, for $53 million as part of a 1031 exchange: target construction start in 2018 Dispositions: In the quarter ended December 31, 2017, the Company disposed of two non-core buildings and one ground lease totaling 499,191 rentable square feet for $55.7 million net of transaction costs In the year ended December 31, 2017, Mack-Cali disposed of 60 non-core buildings and two ground leases totaling 4.7 million rentable square feet for $415.6 million 4Q Financings/Construction Starts: Commenced development of Riverwalk C, a $186.5 million, 360-unit development site on the Port Imperial waterfront in joint venture with Prudential. The buildout of Riverwalk C includes a $112 million construction loan Closed on a $135.8 million permanent financing on the Chase at Overlook Ridge, which refinanced the existing permanent loan on Chase I and the existing construction loan on Chase II Monaco, Jersey City, NJ 150 JFK Pkwy, Short Hills, NJ Company Achievements

6 4Q 2017 Company Highlights Notes: See supporting “Key Metrics” notes on page 43 4Q 2017 3Q 2017 2Q 2017 1Q 2017 4Q 2016 Core FFO per Diluted Share (1) 0.50 0.57 0.60 0.56 0.56 Net Income per Diluted Share (0.01) 0.39 (0.44) 0.11 0.17 Market Value of Equity (2) $2,396,851 $2,607,433 $2,949,047 $2,922,371 $2,928,309 Total Debt, Net 2,809,568 2,839,186 2,950,219 2,731,204 2,340,009 Total Market Capitalization 5,206,419 5,446,619 5,899,266 5,653,575 5,268,318 Shares and Units: Common Shares Outstanding 89,914,113 89,913,576 89,913,919 89,844,752 89,696,713 Common Units Outstanding 10,438,855 10,438,855 10,438,855 10,339,443 10,488,105 Combined Shares and Units 100,352,968 100,352,431 100,352,774 100,184,195 100,184,818 Weighted Average- Diluted (2) 100,467,893 100,727,006 100,369,717 100,636,886 100,575,238 Common Share Price ($’s): At the End of the Period $21.56 $23.71 $27.14 $26.94 $29.02 High During Period 24.04 27.75 28.57 29.70 29.38 Low During Period 21.18 22.70 25.96 26.31 24.59 Dividends Declared per Share 0.20 0.20 0.20 0.15 0.15 Debt Ratios: Net Debt to Adjusted EBITDA (3) 9.3x 8.0x 8.3x 8.5x 7.5x Net Debt to Adjusted EBITDA - Less CIP Debt 8.6x 7.6x 7.8x 8.0x 7.7x Net Debt to Adjusted EBITDA - Office Portfolio 8.0x 6.9x 7.2x 8.2x 6.9x Net Debt to Adjusted EBITDA - Residential Portfolio 17.6x 15.2x 18.7x 11.3x 21.2x Net Debt to Adjusted EBITDA - Residential Portfolio Less CIP Debt 12.7x 10.8x 13.5x 5.9x 7.1x Interest Coverage Ratio 3.3x 3.4x 3.5x 3.7x 3.5x Fixed Charge Coverage Ratio 2.4x 2.6x 2.8x 2.9x 2.7x Total Debt/ Total Market Capitalization 56.7% 52.1% 50.0% 48.3% 44.4% Total Debt/ Total Book Capitalization 54.0% 56.8% 58.1% 55.6% 54.5% Total Debt/ Total Undepreciated Assets 46.5% 46.2% 47.5% 43.8% 41.6% Secured Debt/ Total Undepreciated Assets 23.5% 22.0% 21.9% 18.5% 15.8% Key Financial Metrics $ in thousands, except per share amounts and ratios

7 4Q 2017 Net Asset Value (Unaudited) Company Highlights $ in millions (except per share amounts) See footnotes and “Information About Net Asset Value (NAV)” on pages 9 and 10. NAV Calculation (2) Net Value Range (3) Rentable SF/ Apt Units Projected NOI (1) Cap Rate Gross Asset Value Gross Per SF / Unit (10) Property Debt Third Party Interests Discount for CIP Net Asset Value High Low (A) (B) (C) (D) (A-B-C-D) Office Portfolio MSF Hudson Waterfront (Jersey City) 4.884 $78.9 4.1% $1,937 $397 ($460) $0 $0 $1,477 $1,759 $1,259 Class A Suburban (Metropark, Short Hills) 1.951 41.7 6.6% 635 325 (125) 0 0 510 563 465 Suburban 4.323 56.3 8.1% 693 160 (68) 0 0 625 670 585 Flex Parks 3.492 36.6 6.7% 549 157 0 0 0 549 594 511 Subtotal (4) 14.650 $213.5 $3,814 $260 ($653) $0 $0 $3,161 $3,586 $2,820 Non-Core (5) 2.460 272 0 0 0 272 272 272 Hotel and Other JV Interests (6) 212 (130) (41) 0 41 41 41 Harborside Plaza 4 90 0 0 0 90 90 90 Wegman's & Retail (7) 56 0 0 0 56 56 56 Land (8) 39 0 0 0 39 39 39 Repositioning Properties (9) 117 0 0 0 117 117 117 1031 Balances & Other Receivables (at cost) 46 0 0 0 46 46 46 Office - Asset Value 17.110 $4,646 ($783) ($41) $0 $3,822 $4,247 $3,481 Less: Office Unsecured Debt (1,400) (1,400) (1,400) Less: Market Management Fee (10) (136) (136) (136) Less: Office Preferred Equity/LP Interests (53) (53) (53) Total Office NAV 17.110 $2,233 $2,658 $1,892 Residential Units Operating Properties - Wholly Owned 2,551 $48.8 4.84% $1,008 $395 ($527) $0 ($1) $480 $535 $431 Operating Properties - JVs (11) 2,733 65.9 4.72% 1,395 510 (680) (370) (3) 342 379 308 Operating Properties - Subordinate JVs 542 15.9 4.97% 319 588 (138) (147) 0 34 38 31 In-Construction Properties (12) 1,944 66.5 5.23% 978 503 (217) (99) (317) 345 381 313 Future Development Properties (8) 10,957 587 57 0 (100) 0 487 511 463 Fee Income Business & Other 40 0 0 0 40 40 40 Residential - Asset Value (13) 18,727 $4,327 ($1,562) ($716) ($321) $1,728 $1,884 $1,586 Less: Rockpoint Interest (159) (164) (155) Total Residential NAV 18,727 $1,569 $1,720 $1,431 Total Mack-Cali NAV $3,802 $4,378 $3,323 Approximate NAV / Share (100.5MM shares) (14) $37.83 $43.56 $33.06

Net Asset Value – Residential Breakdown (Unaudited) 8 4Q 2017 Company Highlights $ in millions Valuation Spotlight - Operating Asset Value Ownership Key Assets GAV Per Unit NAV Wholly Owned Monaco, Alterra, Chase at Overlook Ridge $1,008 $383,607 $480 Joint Venture Urby, M2 at Marbella, Crystal House 1,395 493,442 341 Subordinated Interest Marbella 319 542,808 34 Total $2,722 $855 Gross Portfolio Value Stabilized Gross Asset Value $4,327 Less: Discount for CIP (321) Discounted Gross Asset Value $4,006 Less: Existing Debt (1,562) Less: 3rd Party Interests (716) Roseland Net Asset Value $1,728 MCRC Share (14) $1,569 Rockpoint Share $159 See footnotes and “Information About Net Asset Value (NAV)” on pages 9 and 10. Top NAV (net equity) contributors: Operating Properties Urby at Harborside $192 11% Monaco 175 10% Alterra at Overlook Ridge 107 6% Portside 7 & 5/6 at East Pier 97 6% Chase at Overlook Ridge 81 5% $652 38% Current/Future Development Properties Plaza 8/9 $113 7% Marriott Hotels at Port Imperial 85 5% Urby Future Phases 83 5% Riverhouse 11 75 4% Residences at City Square 54 3% $410 24% Top Contributing Assets $1,062 62% Hudson River Waterfront 60% Boston Metro 22% NJ Corridor 9% Washington, D.C. 7% New York Metro 1% Philadelphia Metro 1% NAV by Market

Notes: Net Asset Value (Unaudited) 9 4Q 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. The Company calculates estimated gross asset values for each of its operating office assets by taking the sum of (i) the present value of periodic cash flows over five years and (ii) a terminal value based on estimated stabilized income and a market capitalization rate at stabilization, all discounted at an unlevered internal rate of return. This value, divided by the projected net operating income for a one year period yields the year one imputed capitalization rate. Management projects the periodic cash flows over five years and the stabilized income 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. 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 $78.94 4.08% $37.46 $48.91 93.00% 6.00% 7.00% $1,937 $397 Class A Suburban 1.951 41.66 6.56% 35.76 32.21 94.00% 6.50% 8.00% 635 325 Suburban 4.323 56.31 8.10% 23.61 28.51 90.00% 8.00% 9.00% 693 160 Flex Parks 3.492 36.61 6.78% 18.25 22.00 93.00% 7.00% 8.00% 549 157 Subtotal 14.650 $213.52 $28.48 $39.76 $3,814 $260 Based on projected 2018 cash net operating income with management fees added back for office portfolio. NAV is generally arrived at by calculating the estimated gross asset values for each of the Company’s 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. Gross asset values for stabilized operating multi-family real estate properties are calculated using the direct capitalization method by dividing projected net operating income for the next one year period by an estimated market capitalization rate for each property. Gross asset values for operating office properties are presented by dividing projected net operating income for the next one year period by an estimated year one imputed capitalization rate for each property. See Footnote 4 for a more detailed description of the methodology used by management to estimate gross asset values for its operating office properties. 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. Market capitalization rates are estimated for each property based on its asset class and geographic location and 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 year 1 cap rate for office properties and 0.25% to the year 1 cap rate for residential properties. Property cash flows have been reduced by credit loss reserves and leasing and base building capital expenditures, including targeted Harborside renovations, estimated at approximately $75 million. 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. Wegman’s $36 million asset value calculated using $1.6 million NOI capped at 4.5%. 24 Hour Fitness $20 million asset value calculated using $1 million NOI capped at 5%. 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.

10 4Q 2017 Notes: Net Asset Value (Unaudited) Company Highlights 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. 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. The valuation approach for assets in-construction or lease-up are similar to that applied to assets undergoing repositioning/repurposing, as described above. After applying an estimated capitalization rate, currently ranging from 4.5% to 5.25%, to a projected stabilized net operating income, estimated to total approximately $51.7 million upon completion of the construction or lease-up activities, the Company deducts any estimated future costs totaling $295.7 million 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, currently ranging from 7% to 9.75%, 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. The residential valuation analysis totals to a Roseland NAV of $1,728,000,000, with the company’s share of this NAV of $1,569,000,000 (“MCRC Share”). This latter amount represents the company's share of Roseland NAV, net of the $159,000,000 attributable to Rockpoint's noncontrolling interest. The increase in the approximate NAV per share of $1.22 from September 30, 2017 to December 31, 2017 is due primarily to NOI growth within the portfolio of operating residential properties as well as the commencement of construction on Riverwalk C at Port Imperial, partially offset by slower lease up projections in the Waterfront office market. Overall, NAV is arrived at by calculating the estimated gross asset values for each of their 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. 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 Registrants’ 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 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)

11 4Q 2017 Balance Sheet Company Highlights $ in thousands (unaudited) 4Q 2017 3Q 2017 2Q 2017 1Q 2017 4Q 2016 ASSETS Office/Corp. Roseland Elim./Other Total Rental property Land and leasehold interests (1) $444,619 $342,170 - $786,789 $712,166 $721,753 $752,842 $661,335 Buildings and improvements 2,630,273 1,324,849 - 3,955,122 4,021,241 3,998,971 4,107,508 3,758,210 Tenant improvements 330,228 458 - 330,686 344,465 344,108 384,263 364,092 Furniture, fixtures and equipment 4,054 26,193 - 30,247 29,355 27,985 23,499 21,230 3,409,174 1,693,670 - 5,102,844 5,107,227 5,092,817 5,268,112 4,804,867 Less – accumulated depreciation and amortization (1,031,996) (55,087) - (1,087,083) (1,146,091) (1,131,799) (1,327,967) (1,332,073) 2,377,178 1,638,583 - 4,015,761 3,961,136 3,961,018 3,940,145 3,472,794 Rental property held for sale, net 168,944 2,634 - 171,578 116,958 292,243 2,131 39,743 Net Investment in Rental Property (2) 2,546,122 1,641,217 - 4,187,339 4,078,094 4,253,261 3,942,276 3,512,537 Cash and cash equivalents 22,072 6,108 - 28,180 88,789 21,719 168,316 31,611 Investments in unconsolidated joint ventures 15,305 237,321 - 252,626 238,440 315,110 325,150 320,047 Unbilled rents receivable, net 99,594 1,248 - 100,842 102,280 105,547 102,858 101,052 Deferred charges, goodwill and other assets, net (3) 324,270 42,974 (24,924) 342,320 439,864 316,984 308,428 267,950 Restricted cash 33,739 6,053 - 39,792 40,473 56,167 57,596 53,952 Accounts receivable, net of allowance for doubtful accounts of $1,138 and $1,335 3,999 2,787 - 6,786 7,579 7,706 9,603 9,617 Total Assets $3,045,101 $1,937,708 ($24,924) $4,957,885 $4,995,519 $5,076,494 $4,914,227 $4,296,766 LIABILITIES & EQUITY Senior unsecured notes, net $569,145 - - $569,145 $818,764 $818,294 $817,824 $817,355 Unsecured revolving credit facility and term loans 822,288 - - 822,288 671,838 770,388 760,937 634,069 Mortgages, loans payable and other obligations, net 648,392 $769,743 - 1,418,135 1,348,584 1,361,537 1,152,443 888,585 Note Payable to Affiliate - 24,924 (24,924) - - - - - Dividends and distributions payable 21,158 - - 21,158 20,929 20,684 15,423 15,327 Accounts payable, accrued expenses and other liabilities (3) 113,682 79,034 - 192,716 182,929 177,801 169,988 159,874 Rents received in advance and security deposits 40,123 3,870 - 43,993 46,355 53,939 53,496 46,442 Accrued interest payable 8,038 1,481 - 9,519 16,776 9,199 16,540 8,427 Total Liabilities 2,222,826 879,052 (24,924) 3,076,954 3,106,175 3,211,842 2,986,651 2,570,079 Commitments and contingencies - - - - - - - - Redeemable noncontrolling interests 52,324 159,884 - 212,208 209,070 206,026 202,714 - Total Stockholders’/Members Equity 596,592 879,703 - 1,476,295 1,488,466 1,468,669 1,528,290 1,527,171 Noncontrolling interests in subsidiaries: Operating Partnership 171,395 - - 171,395 172,809 170,510 175,877 178,570 Consolidated joint ventures 1,964 19,069 - 21,033 18,999 19,447 20,695 20,946 Total Noncontrolling Interests in Subsidiaries 173,359 19,069 - 192,428 191,808 189,957 196,572 199,516 Total Equity 769,951 898,772 - 1,668,723 1,680,274 1,658,626 1,724,862 1,726,687 Total Liabilities and Equity $3,045,101 $1,937,708 ($24,924) $4,957,885 $4,995,519 $5,076,494 $4,914,227 $4,296,766 Notes: See “Balance Sheet Detail” on page 43 for more information.

12 4Q 2017 Income Statement – Quarterly Comparison Company Highlights 4Q 2017 3Q 2017 2Q 2017 1Q 2017 4Q 2016 Office/Corp. Roseland Total REVENUES Base rents $101,995 $16,424 $118,419 $128,643 $133,017 $121,255 $126,744 Escalations and recoveries from tenants 10,802 510 11,312 16,385 15,951 15,119 15,257 Real estate services 486 4,663 5,149 5,748 5,767 6,465 6,658 Parking income 3,111 2,112 5,223 5,766 5,052 4,229 3,499 Other income 2,855 571 3,426 3,476 2,979 2,819 1,573 Total Revenues $119,249 $24,280 $143,529 $160,018 $162,766 $149,887 $153,731 EXPENSES Operating expenses $46,929 $12,075 $59,004 $65,299 $64,565 $65,867 $66,608 Net Operating Income $72,320 $12,205 $84,525 $94,719 $98,201 $84,020 $87,123 General and administrative $10,254 $3,472 $13,726 $13,140 $12,491 $11,592 $12,968 Depreciation and amortization 38,688 8,713 47,401 52,375 57,762 47,631 52,045 Total Other Expenses $48,942 $12,185 $61,127 $65,515 $70,253 $59,223 $65,013 Operating Income $23,378 $20 $23,398 $29,204 $27,948 $24,797 $22,110 OTHER (EXPENSE) INCOME Interest expense ($20,508) ($1,982) ($22,490) ($25,634) ($24,943) ($20,321) ($22,731) Interest and other investment income (loss) 1,437 (29) 1,408 762 122 474 875 Equity in earnings (loss) of unconsolidated joint ventures 191 (1,390) (1,199) (1,533) (3,298) (51) (834) Gain on change of control of interests - - - - - - Realized gains (losses) and unrealized losses on disposition of rental property, net 4,476 - 4,476 31,336 (38,954) 5,506 41,002 Gain on sale of investment in unconsolidated joint venture - - - 10,568 - 12,563 - Gain (loss) from extinguishment of debt, net - (182) (182) - - (239) (23,658) Total Other Income (Expense) ($14,404) ($3,583) ($17,987) $15,499 ($67,073) ($2,068) ($5,346) Net Income (Loss) $8,974 ($3,563) $5,411 $44,703 ($39,125) $22,729 $16,764 Noncontrolling interest in consolidated joint ventures $49 $104 $153 447 181 237 191 Noncontrolling interest in Operating Partnership (299) - (299) (4,413) 4,296 (2,295) (1,774) Redeemable noncontrolling interest (456) (2,227) (2,683) (2,683) (2,682) (792) - Net Income (Loss) Available to Common Shareholders $8,268 ($5,686) $2,582 $38,054 ($37,330) $19,879 $15,181 Basic earnings per common share: Net income (loss) available to common shareholders ($0.01) $0.39 ($0.44) $0.11 $0.17 Diluted earnings per common share: Net income (loss) available to common shareholders ($0.01) $0.39 ($0.44) $0.11 $0.17 Basic weighted average shares outstanding 90,029 90,023 90,011 89,955 89,767 Diluted weighted average shares outstanding 100,468 100,727 100,370 100,637 100,575 $ in thousands, except per share amounts (unaudited)

FFO, Core FFO & AFFO – Quarterly Comparison 13 4Q 2017 Company Highlights $ in thousands, except per share amounts and ratios (unaudited) Notes: See footnotes and “Information About FFO, Core FFO, & AFFO” on page 16. 4Q 2017 3Q 2017 2Q 2017 1Q 2017 4Q 2016 Net income (loss) available to common shareholders $2,582 $38,054 ($37,330) $19,879 $15,181 Add (deduct): Noncontrolling interest in Operating Partnership 299 4,413 (4,296) 2,295 1,774 Real estate-related depreciation and amortization on continuing operations (1) 51,619 57,231 63,156 51,757 56,874 Gain on sale of investment in unconsolidated joint venture - (10,568) - (12,563) - Gain on change of control of interests - - - - - Realized gains and unrealized losses on disposition of rental property, net (4,476) (31,336) 38,954 (5,506) (41,002) Funds from operations (2) $50,024 $57,794 $60,484 $55,862 $32,827 Add/Deduct: Acquisition-related costs - - - - $26 Dead deal costs - - - - 282 Mark-to-market interest rate swap - - - - (631) Net real estate tax appeal proceeds - - - - (71) (Gain)/Loss from extinguishment of debt, net $182 - - $239 23,658 Core FFO $50,206 $57,794 $60,484 $56,101 $56,091 Add (Deduct) Non-Cash Items: Straight-line rent adjustments (3) ($3,685) ($6,360) ($3,240) ($3,013) ($3,792) Amortization of market lease intangibles, net (4) (2,234) (2,254) (2,187) (1,577) (772) Amortization of stock compensation 2,303 2,291 2,167 1,168 1,433 Non real estate depreciation and amortization 511 505 349 377 395 Amortization of debt discount/(premium) and mark-to-market, net (201) (164) (163) 241 269 Amortization of deferred financing costs 1,150 1,184 1,175 1,103 999 Deduct: Non-incremental revenue generating capital expenditures: Building improvements (2,842) (1,664) (3,303) (4,969) (8,975) Tenant improvements and leasing commissions (5) (4,791) (5,110) (8,150) (3,965) (5,599) Tenant improvements and leasing commissions on space vacant for more than one year (2,761) (6,667) (4,956) (7,160) (14,522) Adjusted FFO (2) $37,656 $39,555 $42,176 $38,306 $25,527 Core FFO (calculated above) $50,206 $57,794 $60,484 $56,101 $56,091 Deduct: Equity in earnings (loss) of unconsolidated joint ventures, net $1,199 $1,533 $3,298 $51 $834 Equity in earnings share of depreciation and amortization (4,729) (5,260) (5,844) (4,503) (5,269) Add-back: Interest expense 22,490 25,634 24,943 20,321 22,731 Recurring JV distributions 2,862 4,057 2,479 3,242 2,612 Income (loss) in non-controlling interest in consolidated joint ventures (153) (447) (181) (237) (191) Redeemable noncontrolling interest 2,683 2,683 2,682 792 - Adjusted EBITDA $74,558 $85,994 $87,861 $75,767 $76,808 Net debt at period end (7) $2,781,388 $2,750,397 $2,928,500 $2,562,888 $2,308,398 Net debt to Adjusted EBITDA (8) 9.3x 8.0x 8.3x 8.5x 7.5x Diluted weighted average shares/units outstanding (9) 100,468 100,727 100,370 100,637 100,575 Funds from operations per share-diluted $0.50 $0.57 $0.60 $0.56 $0.33 Core Funds from Operations per share/unit-diluted $0.50 $0.57 $0.60 $0.56 $0.56 Dividends declared per common share $0.20 $0.20 $0.20 $0.15 $0.15

14 4Q 2017 Income Statement – Annual Comparison Company Highlights FY 2017 FY 2016 REVENUES Base rents $501,334 $506,877 Escalations and recoveries from tenants 58,767 60,505 Real estate services 23,129 26,589 Parking income 20,270 13,630 Other income 12,700 5,797 Total Revenues $616,200 $613,398 EXPENSES Operating expenses $254,735 $270,097 Net Operating Income $361,465 $343,301 General and administrative $50,949 $51,979 Depreciation and amortization 205,169 186,684 Total Other Expenses $256,118 $238,663 Operating Income $105,347 $104,638 OTHER (EXPENSE) INCOME Interest expense ($93,388) ($94,889) Interest and other investment income (loss) 2,766 1,614 Equity in earnings (loss) of unconsolidated joint ventures (6,081) 18,788 Gain on change of control of interests - 15,347 Realized gains (losses) and unrealized losses on disposition of rental property, net 2,364 109,666 Gain on sale of investment in unconsolidated joint venture 23,131 5,670 Gain (loss) from extinguishment of debt, net (421) (30,540) Total Other Income (Expense) ($71,629) $25,656 Net Income (Loss) $33,718 $130,294 Noncontrolling interest in consolidated joint ventures 1,018 651 Noncontrolling interest in Operating Partnership (2,711) (13,721) Redeemable noncontrolling interest (8,840) - Net Income (Loss) Available to Common Shareholders $23,185 $117,224 Basic earnings per common share: Net income (loss) available to common shareholders $0.06 $1.31 Diluted earnings per common share: Net income (loss) available to common shareholders $0.06 $1.30 Basic weighted average shares outstanding 90,005 89,467 Diluted weighted average shares outstanding 100,703 100,498 $ in thousands

FFO, Core FFO & AFFO – Annual Comparison 15 4Q 2017 Company Highlights Notes: See footnotes and “Information About FFO, Core FFO, & AFFO” on page 16. FY 2017 FY 2016 Net income (loss) available to common shareholders $23,185 $117,224 Add (deduct): Noncontrolling interest in Operating Partnership 2,711 13,721 Real estate-related depreciation and amortization on continuing operations (1) 223,763 204,746 Gain on sale of investment in unconsolidated joint venture (23,131) (5,670) Gain on change of control of interests - (15,347) Realized gains and unrealized losses on disposition of rental property, net (2,364) (109,666) Funds from operations (2) $224,164 $205,008 Add/Deduct: Acquisition-related costs - $2,880 Dead deal costs - 1,073 Mark-to-market interest rate swap - (631) Net real estate tax appeal proceeds - (817) Equity in earnings fromjoint venture refinancing proceeds - (21,708) (Gain)/Loss from extinguishment of debt, net $421 30,540 Core FFO $224,585 $216,345 Add (Deduct) Non-Cash Items: Straight-line rent adjustments (3) ($16,298) ($15,123) Amortization of market lease intangibles, net (4) (8,252) (2,260) Amortization of stock compensation 7,929 6,018 Non real estate depreciation and amortization 1,742 1,112 Amortization of debt discount/(premium) and mark-to-market, net (287) 1,686 Amortization of deferred financing costs 4,612 4,582 Deduct: Non-incremental revenue generating capital expenditures: Building improvements (12,778) (23,364) Tenant improvements and leasing commissions (5) (22,016) (40,616) Tenant improvements and leasing commissions on space vacant for more than one year (21,544) (64,909) Adjusted FFO (2) (6) $157,693 $83,471 Core FFO (calculated above) $224,585 $216,345 Deduct: Equity in earnings (loss) of unconsolidated joint ventures, net $6,081 $2,920 Equity in earnings share of depreciation and amortization (20,336) (19,217) Add-back: Interest expense 93,388 94,889 Recurring JV distributions 12,640 10,501 Income (loss) in non-controlling interest in consolidated joint ventures (1,018) (651) Redeemable noncontrolling interest 8,840 - Adjusted EBITDA $324,180 $304,787 Net debt at period end (7) $2,781,388 $2,308,398 Net debt to Adjusted EBITDA (8) 8.6x 7.6x Diluted weighted average shares/units outstanding (9) 100,703 100,498 Funds from operations per share-diluted $2.23 $2.04 Core Funds from Operations per share/unit-diluted $2.23 $2.15 Dividends declared per common share $0.75 $0.60 $ in thousands except per share amounts and ratios (unaudited)

FFO, Core FFO & AFFO (Notes) 16 4Q 2017 Company Highlights Notes Includes the Company’s share from unconsolidated joint ventures, and adjustments for noncontrolling interest, of $4,729 and $5,224 for the three months ended December 31, 2017 and 2016, respectively, and $20,336 and $19,174 for the year ended December 31, 2017 and 2016, respectively. Excludes non-real estate-related depreciation and amortization of $511 and $395 for the three months ended December 31, 2017 and 2016, respectively, and $1,742 and $1,112 for the twelve months ended December 31, 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 $267 and $280 for the three months ended December 31, 2017 and 2016, respectively, and $1,235 and $791 for the year ended December 31, 2017 and 2016, respectively. Includes the Company's share from unconsolidated joint ventures of $80 and $96 for the three months ended December 31, 2017 and 2016, respectively, and $336 and $381 for the year ended December 31, 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 $83,471 for the year ended December 31, 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 EBITDA 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 10,490 shares for the three months ended December 31, 2017 and 2016, respectively, and 10,405 and 10,499 for the year ended December 31, 2017 and 2016, respectively), plus dilutive Common Stock Equivalents (i.e. stock options). 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

Same Store Performance 17 4Q 2017 Company Highlights $ in thousands Office Same Store For the Three Months Ended For the Year Ended 4Q 2017 4Q 2016 Change % Change 4Q 2017 4Q 2016 Change % Change Total Property Revenues $104,253 $106,912 ($2,659) (2.5%) $390,935 $382,609 $8,326 2.2% Real Estate Taxes $13,767 $14,692 ($925) (6.3%) $56,102 $54,944 $1,158 2.1% Utilities 7,439 7,416 23 0.3% 29,558 30,048 (490) (1.6%) Operating Services 20,360 19,849 511 2.6% 67,098 65,492 1,606 2.5% Total Property Expenses: $41,566 $41,957 ($391) (0.9%) $152,758 $150,484 $2,274 1.5% GAAP Net Operating Income $62,687 $64,955 ($2,268) (3.5%) $238,177 $232,125 $6,052 2.6% Less: straight-lining of rents adj. $3,597 $2,735 $862 31.5% $4,580 $9,598 ($5,018) (52.3%) Net Operating Income $59,090 $62,220 ($3,130) (5.0%) $233,597 $222,527 $11,070 5.0% Total Properties: 124 124 - - 121 121 - - Total Square Footage: 15,967,326 15,967,326 - - 15,129,870 15,129,870 - - % Leased: 85.7% 91.7% (6.0%) 85.2% 91.4% (6.2%) Residential Same Store(1) For the Three Months Ended For the Year Ended 4Q 2017 4Q 2016 Change % Change 4Q 2017 4Q 2016 Change % Change Total Property Revenues $26,826 $26,959 ($133) (0.5%) $107,397 $105,178 $2,218 2.1% Real Estate Taxes $3,128 $3,300 $172 5.2% $13,319 $13,341 $22 0.2% Operating Expenses 6,566 7,494 928 12.4% 26,851 27,318 467 3.5% Total Property Expenses: $9,694 $10,794 $1,100 10.2% $40,170 $40,659 $489 1.2% GAAP Net Operating Income $17,132 $16,165 $967 6.0% $67,227 $64,519 $2,707 4.2% Total Units: 3,528 3,528 - - 3,528 3,528 - - % Leased: 96.6% 96.1% 0.5% 96.6% 96.1% 0.5% Notes: (1) Represents 100% of NOI relative to all consolidated and unconsolidated properties to reflect marketplace performance.

18 4Q 2017 Debt Summary & Maturity Schedule Company Highlights $ in thousands Notes: See supporting “Debt Summary & Maturity Schedule” notes on page 43 Debt Breakdown % Weighted Average Weighted Average Balance of Total Interest Rate (2) Maturity in Years Fixed Rate Debt Fixed Rate Unsecured Debt and Other Obligations (1) $1,250,000 44.23% 3.62% 3.04 Fixed Rate Secured Debt 1,193,667 42.24% 4.35% 5.69 Subtotal: Fixed Rate Debt $2,443,667 86.47% 3.98% 4.33 Variable Rate Debt Variable Rate Secured Debt $232,444 8.22% 4.25% 1.52 Variable Rate Unsecured Debt (3) 150,000 5.31% 2.68% 3.07 Subtotal: Variable Rate Debt $382,444 13.53% 3.63% 2.13 Totals/Weighted Average: $2,826,111 100.00% 3.93% (3) 4.03 Adjustment for Unamortized Debt Discount (3,505) Unamortized Deferred Financing Costs (13,038) Total Debt, net $2,809,568 Unconsolidated Secured Debt: CLI Share $395,198 43.09% 4.11% 6.76 Partners’ Share 521,939 56.91% 4.11% 6.76 Total Unconsolidated Secured Debt $917,137 100.00% 4.11% 6.76 Maturity Schedule Principal Scheduled Total Future Weighted Average Period Maturities Amortization Repayments Interest Rate (1) 2018 $275,210 $6,977 $282,187 6.58% (1) 2019 576,489 665 577,154 3.65% (1) 2020 325,000 2,903 327,903 3.31% 2021 318,800 3,227 322,027 2.95% 2022 300,000 3,284 303,284 4.60% Thereafter 997,927 10,642 1,008,569 3.88% Subtotal $2,793,426 $27,698 $2,821,124 3.93% Adjustment for unamortized debt discount/premium - (3,505) (3,505) Unamortized mark-to-market - 4,987 4,987 Unamortized deferred financing costs - (13,038) (13,038) Totals/Weighted Average: $2,793,426 $16,142 $2,809,568 3.93% (3)

19 4Q 2017 Debt Profile Company Highlights Notes: See supporting “Debt Profile” notes on page 43 Effective December 31, December 31, Date of Lender Interest Rate (1) 2017 2016 Maturity OFFICE PORTFOLIO Secured Debt Curtis Center CCRE & PREFG LIBOR+5.912% - $75,000 - 23 Main Street Berkadia CMBS 5.587% $27,090 27,838 09/01/18 Harborside Plaza 5 Northwestern Mutual Life 6.842% 209,257 213,640 11/01/18 (2) One River Center Guardian Life Ins. Co. 7.311% 40,485 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 0.0415 124,500 - 04/01/27 Principal balance outstanding 651,332 607,675 Unamortized deferred financing costs (2,941) (2,193) Total Secured Debt - Office Portfolio $648,391 $605,482 Senior Unsecured Notes: (3) (4) 2.500%, Senior Unsecured Notes public debt 2.803% - $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 575,000 825,000 Adjustment for unamortized debt discount (3,505) (4,430) Unamortized deferred financing costs (2,350) (3,216) Total Senior Unsecured Notes, net: $569,145 $817,354 Unsecured Term Loans: 2016 Unsecured Term Loan 7 Lenders 3.13% $350,000 $350,000 01/07/19 (5) 2017 Unsecured Term Loan 13 Lenders 3.31% 325,000 - 01/25/20 (5) Revolving Credit Facilities 13 Lenders LIBOR +1.300% 150,000 286,000 01/25/21 Unamortized deferred financing costs (2,712) (1,931) Total Revolving Credit Facilities & Unsecured Term Loans: $822,288 $634,069 Total Debt - Office Portfolio $2,039,824 $2,056,905 RESIDENTIAL PORTFOLIO Secured Debt (Mortgages) Port Imperial 4/5 Hotel Fifth Third Bank & Santander LIBOR+4.50% 43,674 14,919 10/06/18 Chase II Fifth Third Bank LIBOR+2.25% - 34,708 Park Square Wells Fargo Bank N.A. LIBOR+1.872% 26,567 27,500 04/10/19 250 Johnson M&T Bank LIBOR+2.35% 32,491 2,440 05/20/19 Portside 5/6 Citizens Bank LIBOR+2.50% 45,778 - 09/29/19 Port Imperial South 11 JPMorgan Chase LIBOR+2.35% 46,113 14,073 11/24/19 Worcester Citizens Bank LIBOR+2.50% 37,821 - 12/10/19 Monaco The Northwestern Mutual Life Insurance Co. 3.15% 169,987 - 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 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 The Chase at Overlook Ridge (Combined) New York Community Bank 3.738% 135,750 - 01/01/25 150 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 774,779 288,380 Unamortized deferred financing costs (5,035) (5,277) Total Secured Debt - Residential Portfolio $769,744 $283,103 Total Debt - Residential Portfolio $769,744 $283,103 Total Debt: $2,809,568 $2,340,008 $ in thousands

20 4Q 2017 2018/2019 Debt Maturities Company Highlights Balance at Maximum Date of Maturity Extension Option/ Type YE 2017 Loan Balance Maturity In Years Prepayment LTV Secured Debt Consolidated Debt Office 23 Main Street Secured Debt $27,090 - 09/01/18 0.67 Intention to prepay on 3/1/18 46.5% Harborside Plaza 5 Secured Debt 209,257 - 11/01/18 0.84 Prepaid 1/8/18 - One River Center Secured Debt 40,485 - 02/01/19 1.09 - 56.2% Total Consolidated Office $276,832 0.86 50.3% Residential Port Imperial 4/5 Hotel Construction Loan $43,674 $94,000 10/06/18 0.77 Two 1-year options 47.1% Park Square Secured Debt 26,567 - 04/10/19 1.28 - 71.8% 250 Johnson Construction Loan 32,491 42,000 05/20/19 1.39 1-year option 54.6% Portside 5/6 Construction Loan 45,778 73,000 09/29/19 1.72 Two 1-year options 50.0% Port Imperial South 11 Construction Loan 46,113 78,000 11/24/19 1.90 Two 1-year options 45.8% Worcester Construction Loan 37,821 58,000 12/10/19 1.94 Two 1-year options 50.0% Total Consolidated Residential $232,444 1.52 50.5% Total Consolidated Secured $509,276 1.16 50.4% Unconsolidated Debt M2 Secured Debt $74,690 - 3/30/18 0.25 1-year option 36.9% Marbella Secured Debt 95,000 - 5/01/18 0.34 - 43.5% Shops at 40 Park Secured Debt 6,176 - 8/31/18 0.67 - 41.5% Total Unconsolidated Secured $175,866 0.31 40.6% Total Secured Debt $685,142 0.94 47.3% Unsecured Debt 2016 Unsecured Term Loan $350,000 - 01/07/19 1.02 Two 1-year options - Total Unsecured $350,000 1.02 $ in thousands

Unconsolidated Joint Ventures 21 4Q 2017 Company Highlights $ in thousands Notes: See supporting “Unconsolidated Joint Ventures” notes on page 43 Property CLI's Nominal 4Q 2017 Total NOI After CLI Share CLI Share CLI NOI After CLI 4Q Property Type Ownership (1) Total NOI Debt Debt Service of NOI of Debt Debt Service 2017 FFO Operating Properties Marbella Residential 24.27% $2,547 $95,000 $1,362 $618 $23,057 $331 $354 M2 Residential 24.27% 2,101 74,690 1,403 510 18,127 340 314 Metropolitan & Shops at 40 Park Residential 12.50% 1,044 53,224 612 131 6,653 76 19 RiverTrace at Port Imperial Residential 22.50% 1,839 82,000 1,181 414 18,450 266 262 Crystal House Residential 25.00% 3,038 165,000 1,730 760 41,250 433 399 Riverpark at Harrison Residential 45.00% 422 30,000 145 190 13,500 65 28 Station House Residential 50.00% 1,841 100,070 635 921 50,035 318 295 Urby Residential 85.00% 2,984 189,853 517 2,536 161,375 440 618 Red Bank Corporate Plaza Residential 50.00% 180 13,876 24 90 6,938 12 10 12 Vreeland Office 50.00% 429 9,495 361 215 4,748 180 179 Offices at Crystal Lake Office 31.25% 282 4,794 225 88 1,498 70 69 Hyatt Regency Jersey City Hotel 50.00% 3,952 99,135 3,043 1,976 49,568 1,521 1,433 Riverwalk Retail Retail 20.00% 133 - 133 27 - 27 1 Total Operating $20,792 $917,137 $11,371 $8,476 $395,199 $4,079 $3,981 Other Unconsolidated JVs - - - - - - ($367) Total Unconsolidated JVs (2) $20,792 $917,137 $11,371 $8,476 $395,199 $4,079 $3,614

2017 Office Investment Activity 22 Company Highlights 4Q 2017 $ in thousands except per SF/Unit Notes: See supporting “2017 Office Investment Activity” notes on page 43 Number of Transaction Price Per Weighted Average Location Transaction Date Buildings SF/Units Value (1) SF/Unit Cap Rate (3) Office Dispositions 1Q 2017 Office Dispositions Cranford Portfolio Cranford, NJ 1/30/2017 6 435,976 $28,000 $61 440 Route 22 East Bridgewater, NJ 1/31/2017 1 198,376 10,500 51 3 Independence Way Princeton, NJ 2/7/2017 1 111,300 12,000 104 1Q 2017 Office Dispositions 8 745,652 $50,500 $65 6.46% 2Q 2017 Office Dispositions 103 Carnegie Center Princeton, NJ 5/15/2017 1 96,000 $15,760 $157 2Q 2017 Office Dispositions 1 96,000 $15,760 $157 6.90% 3Q 2017 Office Dispositions 400 Chestnut Ridge Road Woodcliff Lake, NJ 8/29/2017 1 89,200 $7,463 $77 140 E. Ridgewood Avenue Paramus, NJ 8/30/2017 1 239,680 33,950 126 Bergen Portfolio Woodcliff Lake, Paramus, Rochelle Park, NJ 8/30/2017 5 1,061,544 89,718 82 377 Summerhill Road East Brunswick, NJ 9/11/2017 1 40,000 3,700 81 700 Executive Boulevard (2) Elmsford, NY 9/13/2017 - - 5,750 - Totowa Portfolio Totowa, NJ 9/20/2017 13 499,243 66,500 127 890 Mountain Avenue New Providence, NJ 9/27/2017 1 80,000 5,300 61 135 Chestnut Ridge Road Montvale, NJ 9/28/2017 1 66,150 6,400 88 Moorestown Portfolio Moorestown & Burlington, NJ 9/29/2017 26 1,260,398 74,950 58 3Q 2017 Office Dispositions 49 3,336,215 $293,731 $82 8.15% 4Q 2017 Office Dispositions 1 Enterprise Boulevard (2) Yonkers, NY 10/19/2017 - - $3,400 - 61 S Paramus Road Paramus, NJ 11/15/2017 1 269,191 24,000 $87 300 Tice Boulevard Woodcliff Lake, NJ 12/6/2017 1 230,000 28,172 126 4Q 2017 Office Dispositions 2 499,191 $55,572 $105 9.81% Total 2017 Office Dispositions 60 4,677,058 $415,563 $84 8.07% Sale of Unconsolidated Joint Venture Interests 1/31/2017, 9/30/2017 - - $112,200 - Office Acquisitions Red Bank Portfolio Red Bank, NJ 1/11/2017 3 279,472 $27,228 $97 Short Hills/Madison Portfolio Short Hills & Madison, NJ 3/6/2017 6 1,113,028 367,361 330 Total Office Acquisitions 9 1,392,500 $394,589 $283

Property Listing 27 4Q 2017 Office Portfolio Notes: See supporting “Property Listing” notes on page 44 Waterfront Suburban (2) Avg. Base Rent Avg. Base Rent Building Location Total SF Leased SF % Leased + Escalations (5) Building Location Total SF Leased SF % Leased + Escalations (5) 101 Hudson Jersey City, NJ 1,246,283 1,246,283 100.0% $35.05 4A 1 Giralda Farms Madison, NJ 154,417 154,417 100.0% $39.73 Harborside 1 Jersey City, NJ 399,578 197,276 49.4% 47.44 4D 7 Giralda Farms Madison, NJ 236,674 148,180 62.6% 35.18 Harborside 2 & 3 Jersey City, NJ 1,487,222 1,134,341 76.3% 37.35 4H 4 Gatehall Drive Parsippany, NJ 248,480 195,480 78.7% 26.74 Harborside 4a Jersey City, NJ 207,670 204,856 98.6% 36.51 9A 9 Campus Drive Parsippany, NJ 156,495 137,451 87.8% 20.41 Harborside 5 Jersey City, NJ 977,225 916,565 93.8% 42.36 CT 325 Columbia Turnpike Florham Park, NJ 168,144 167,044 99.3% 26.26 111 River Street Hoboken, NJ 566,215 511,699 90.4% 38.74 F5 100 Schultz Drive Red Bank, NJ 100,000 57,364 57.4% 28.51 Total Waterfront 4,884,193 4,211,020 86.2% $38.34 F6 200 Schultz Drive Red Bank, NJ 102,018 54,970 53.9% 28.24 J7 201 Littleton Road Morris Plains, NJ 88,369 38,572 43.6% 20.05 JB 3600 Route 66 Neptune, NJ 180,000 180,000 100.0% 24.59 K4 4 Campus Drive Parsippany, NJ 147,475 124,307 84.3% 24.01 K6 6 Campus Drive Parsippany, NJ 148,291 120,317 81.1% 25.66 L0 One Sylvan Way Parsippany, NJ 150,557 122,938 81.7% 32.26 L7 Five Sylvan Way Parsippany, NJ 151,383 142,588 94.2% 29.00 L9 Seven Sylvan Way Parsippany, NJ 145,983 103,289 70.8% 28.00 Class A Suburban (1) LJ Seven Campus Drive Parsippany, NJ 154,395 146,604 95.0% 25.76 Avg. Base Rent LK Two Hilton Court Parsippany, NJ 181,592 181,592 100.0% 40.47 Building Location Total SF Leased SF % Leased + Escalations (5) LN Eight Campus Drive Parsippany, NJ 215,265 163,020 75.7% 29.77 1 Bridge Plaza Fort Lee, NJ 200,000 168,352 84.2% $28.52 LQ 2 Dryden Way Parsippany, NJ 6,216 6,216 100.0% 17.80 2115 Linwood Avenue Fort Lee, NJ 68,000 59,410 87.4% 24.33 VN 600 Horizon Drive (4) Hamilton, NJ 95,000 95,000 100.0% 24.23 101 Wood Avenue S Iselin, NJ 262,841 262,841 100.0% 32.06 NC 700 Horizon Drive (4) Hamilton, NJ 120,000 120,000 100.0% 32.88 581 Main Street Woodbridge, NJ 200,000 102,544 51.3% 27.83 PO 100 Overlook Center Princeton, NJ 149,600 134,033 89.6% 31.06 333 Thornall Street Edison, NJ 196,128 188,618 96.2% 34.26 PR 5 Vaughn Drive Princeton, NJ 98,500 47,495 48.2% 29.73 343 Thornall Street Edison, NJ 195,709 190,790 97.5% 32.54 R0 One River Center 1 Middletown, NJ 122,594 116,982 95.4% 27.59 150 JFK Parkway Short Hills, NJ 247,476 209,848 84.8% 34.35 RF One River Center 2 Middletown, NJ 120,360 120,360 100.0% 25.66 51 JFK Parkway Short Hills, NJ 260,741 255,495 98.0% 51.64 RH One River Center 3 & 4 Middletown, NJ 214,518 120,164 56.0% 27.86 101 JFK Parkway Short Hills, NJ 197,196 197,196 100.0% 40.66 vo 23 Main Street Holmdel, NJ 350,000 350,000 100.0% 17.35 103 JFK Parkway Short Hills, NJ 123,000 123,000 100.0% 42.41 WH 5 Wood Hollow Road Parsippany, NJ 317,040 317,040 100.0% 25.22 Total Class A Suburban 1,951,091 1,758,094 90.1% $36.29 Total Suburban 4,323,366 3,665,423 84.8% $27.43 Total Core Portfolio (3) 11,158,650 9,634,537 86.3% $33.84 Flex Park Portfolio 3,491,612 3,195,006 91.5% $18.37

2018 Expirations by Building 28 Expiring SF by Quarter 1Q 2018 2Q 2018 3Q 2018 4Q 2018 Total 2018 Waterfront 283,604 463,995 110,091 31,243 888,933 Class A Suburban 8,331 29,246 27,060 14,321 78,958 Suburban 97,973 66,150 50,789 56,597 271,509 Flex Parks 31,411 67,607 73,586 79,761 252,365 Total Core Portfolio 421,319 626,998 261,526 181,922 1,491,765 Waterfront Suburban 2018 Expirations Current 2018 Expirations Current Building Location Total SF SF % Total In-Place Rent Asking Rent Building Location Total SF SF % Total In-Place Rent Asking Rent 101 Hudson Jersey City, NJ 1,246,283 345,060 27.7% $32.89 $49.00 1 Giralda Farms Madison, NJ 154,417 0 0.0% - $35.00 Harborside 1 Jersey City, NJ 399,578 0 0.0% - 43.00 7 Giralda Farms Madison, NJ 236,674 0 0.0% - 35.00 Harborside 2 & 3 Jersey City, NJ 1,487,222 12,997 0.9% 41.50 43.00 4 Gatehall Drive Parsippany, NJ 248,480 20,574 8.3% $25.56 28.00 Harborside 4a Jersey City, NJ 207,670 0 0.0% - 43.00 9 Campus Drive Parsippany, NJ 156,495 5,071 3.2% 15.22 27.00 Harborside 5 Jersey City, NJ 977,225 410,625 42.0% 47.85 49.00 325 Columbia Turnpike Florham Park, NJ 168,144 5,556 3.3% 28.10 30.00 111 River Street Hoboken, NJ 566,215 120,251 21.2% 40.61 49.00 100 Schultz Drive Red Bank, NJ 100,000 57,364 57.4% 28.51 28.00 Total Waterfront 4,884,193 888,933 18.2% $40.97 $48.91 200 Schultz Drive Red Bank, NJ 102,018 14,604 14.3% 33.30 28.00 Waterfront Vacancies (Current) 673,173 13.8% 44.03 201 Littleton Road Morris Plains, NJ 88,369 5,452 6.2% 19.62 20.00 3600 Route 66 Neptune, NJ 180,000 0 0.0% - 24.00 4 Campus Drive Parsippany, NJ 147,475 5,390 3.7% 25.17 27.00 6 Campus Drive Parsippany, NJ 148,291 20,812 14.0% 28.01 27.00 One Sylvan Way Parsippany, NJ 150,557 0 0.0% - 28.00 Five Sylvan Way Parsippany, NJ 151,383 10,044 6.6% 31.38 31.00 Seven Sylvan Way Parsippany, NJ 145,983 0 0.0% - 30.00 Class A Suburban Seven Campus Drive Parsippany, NJ 154,395 18,608 12.1% 28.40 26.00 2018 Expirations Current Two Hilton Court Parsippany, NJ 181,592 0 0.0% - 28.00 Building Location Total SF SF % Total In-Place Rent Asking Rent Eight Campus Drive Parsippany, NJ 215,265 16,234 7.5% 32.63 31.00 1 Bridge Plaza Fort Lee, NJ 200,000 38,693 19.3% $28.97 $30.00 2 Dryden Way Parsippany, NJ 6,216 0 0.0% - 14.00 2115 Linwood Avenue Fort Lee, NJ 68,000 9,700 14.3% 26.06 26.50 600 Horizon Drive Hamilton, NJ 95,000 0 0.0% 15.00 101 Wood Avenue S Iselin, NJ 262,841 8,987 3.4% 32.96 35.00 700 Horizon Drive Hamilton, NJ 120,000 0 0.0% 12.50 581 Main Street Woodbridge, NJ 200,000 3,492 1.7% 25.71 29.50 100 Overlook Center Princeton, NJ 149,600 58,807 39.3% 30.05 30.00 333 Thornall Street Edison, NJ 196,128 1,631 0.8% 35.12 35.00 5 Vaughn Drive Princeton, NJ 98,500 5,358 5.4% 30.45 31.00 343 Thornall Street Edison, NJ 195,709 10,921 5.6% 29.74 35.00 One River Center 1 Middletown, NJ 122,594 0 0.0% - 29.00 150 JFK Parkway Short Hills, NJ 247,476 2,753 1.1% 33.35 42.00 One River Center 2 Middletown, NJ 120,360 27,635 23.0% 26.29 29.00 51 JFK Parkway Short Hills, NJ 260,741 2,781 1.1% 54.50 55.00 One River Center 3 & 4 Middletown, NJ 214,518 0 0.0% - 29.00 101 JFK Parkway Short Hills, NJ 197,196 0 0.0% - 42.00 23 Main Street Holmdel, NJ 350,000 0 0.0% - 13.00 103 JFK Parkway Short Hills, NJ 123,000 0 0.0% - 42.00 5 Wood Hollow Road Parsippany, NJ 317,040 0 0.0% - 26.00 Total Class A Suburban 1,951,091 78,958 4.0% $30.21 $32.21 Total Suburban 4,323,366 271,509 6.3% $28.50 $28.51 Class A Vacancies (Current) 192,997 9.9% 32.92 Suburban Vacancies (Current) 657,943 15.2% 29.05 Flex Park Portfolio 3,491,612 252,365 7.2% $17.43 $22.00 Flex Park Vacancies (Current) 296,606 8.5% 22.00 Total Core Portfolio 14,650,262 1,491,765 10.2% $34.15 $39.76 Total Current Core Vacancies 1,820,719 12.4% 33.85 Asking rents on vacant space are on average 16.4% higher than expiring rents

Leasing Activity 29 4Q 2017 Office Portfolio Percentage Leased Summary Pct. Leased Impact of Impact of Pct. Leased Sq. Ft. Leased Sq. Ft. Leased Sq. Ft. 9/30/2017 Acquisition/Disposition Leasing Activity 12/31/2017 Commercial Service Unleased Waterfront 94.0% 0.0% (7.8%) 86.2% 4,100,489 110,531 673,173 Class A Suburban 89.6% 0.0% 0.5% 90.1% 1,741,073 17,021 192,997 Suburban 85.0% 0.7% (0.9%) 84.8% 3,496,543 168,880 657,943 Flex Parks 91.3% 0.0% 0.2% 91.5% 3,165,942 29,064 296,606 Subtotals 90.1% 0.3% (2.8%) 87.6% 12,504,047 325,496 1,820,719 Non-Core 74.1% 0.0% (0.4%) 73.7% 1,793,700 19,136 647,204 TOTALS 87.4% 0.5% (2.3%) 85.6% 14,297,747 344,632 2,467,923 Summary of Leasing Transaction Activity For the three months ended December 31, 2017 Number of Total Sq. Ft. Sq. Ft. Renewed Average Weighted Avg. Wtd. Avg. Wtd. Avg. Costs Transactions Sq. Ft. New Leases and Other Retained Sq. Ft. Term (Yrs) Base Rent ($) Sq. Ft. Per Year ($) Waterfront 2 58,036 - 58,036 29,018 6.6 $50.55 $6.37 Class A Suburban 6 38,867 21,487 17,380 6,478 7.3 37.95 6.64 Suburban 4 19,631 - 19,631 4,908 6.7 30.03 5.42 Flex Parks 9 67,908 21,673 46,235 7,545 3.8 17.37 1.96 Subtotals 21 184,442 43,160 141,282 8,783 5.7 $33.49 $5.23 Repositioning 1 35,000 35,000 - 35,000 5.3 $16.06 Non-Core 16 219,628 1,927 217,701 13,727 7.5 23.23 3.82 TOTALS 38 439,070 80,087 358,983 11,554 6.6 $26.97 $4.35 For the year ended December 31, 2017 Number of Total Sq. Ft. Sq. Ft. Renewed Average Weighted Avg. Wtd. Avg. Wtd. Avg. Costs Transactions Sq. Ft. New Leases and Other Retained Sq. Ft. Term (Yrs) Base Rent ($) Sq. Ft. Per Year ($) Waterfront 8 122,171 19,409 102,762 15,271 6.7 $48.48 $6.58 Class A Suburban 23 149,995 27,552 122,443 6,522 6.3 33.96 5.23 Suburban 20 107,199 39,555 67,644 5,360 6.7 27.62 5.26 Flex Parks 78 1,210,534 162,982 1,047,552 15,520 7.6 18.69 1.46 Subtotals 129 1,589,899 249,498 1,340,401 12,325 7.4 $23.02 $2.33 Repositioning 2 105,878 105,878 - 52,939 10.0 $25.06 Non-Core 60 581,176 63,907 517,269 9,686 6.9 25.51 3.10 TOTALS 191 2,276,953 419,283 1,857,670 9,726 7.4 $23.75 $2.53

30 4Q 2017 Office Portfolio Leasing Rollforwards Rollforwards For the three months ended December 31, 2017 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. For the year ended December 31, 2017 Sq. Ft. Inventory Leased Sq. Ft. Net Sq. Ft. Pct. Pct. Leased Inventory Leased Inventory Space Leased Acquired/ Acquired/ Expiring/ Incoming Leasing Inventory Leased Leased 09/30/17 09/30/17 09/30/17 Reclassed Reclassed Disposed Disposed Adj. Sq. Ft. Sq. Ft. Activity 12/31/17 12/31/17 12/31/17 Waterfront 94.0% 4,884,193 4,592,611 - - - - (439,627) 58,036 (381,591) 4,884,193 4,211,020 86.2% Class A Suburban 89.6% 1,951,091 1,749,132 - - - - (29,905) 38,867 8,962 1,951,091 1,758,094 90.1% Suburban 85.0% 4,541,820 3,860,193 - - (218,454) (12,804) (201,597) 19,631 (181,966) 4,323,366 3,665,423 84.8% Flex Parks 91.3% 3,491,612 3,189,429 - - - - (62,331) 67,908 5,577 3,491,612 3,195,006 91.5% Subtotals 90.1% 14,868,716 13,391,365 - - (218,454) (12,804) (733,460) 184,442 (549,018) 14,650,262 12,829,543 87.6% Repositioning(1) - - - - - - - - 35,000 - - - - Non-Core 74.1% 2,959,231 2,194,046 - - (499,191) (368,321) (232,517) 219,628 (12,889) 2,460,040 1,812,836 73.7% TOTALS 87.4% 17,827,947 15,585,411 - - (717,645) (381,125) (965,977) 439,070 (561,907) 17,110,302 14,642,379 85.6% . Sq. Ft. Inventory Leased Sq. Ft. Net Sq. Ft. Pct. Pct. Leased Inventory Leased Inventory Space Leased Acquired/ Acquired/ Expiring/ Incoming Leasing Inventory Leased Leased 12/31/16 12/31/16 12/31/16 Reclassed Reclassed Disposed Disposed Adj. Sq. Ft. Sq. Ft. Activity 12/31/17 12/31/17 12/31/17 Waterfront 94.4% 4,884,193 4,608,926 - - - - (520,077) 122,171 (397,906) 4,884,193 4,211,020 86.2% Core 87.0% 8,893,852 7,738,170 (8,893,852) (7,738,170) - - - - - - - 0.0% Class A Suburban 0.0% - - 1,370,154 1,323,936 580,937 575,691 (291,528) 149,995 (141,533) 1,951,091 1,758,094 90.1% Suburban 0.0% - - 3,730,257 3,317,485 593,109 550,994 (310,255) 107,199 (203,056) 4,323,366 3,665,423 84.8% Flex 93.1% 5,216,213 4,855,896 (5,216,213) (4,855,896) - - - - - - - 0.0% Flex Parks 0.0% - - 5,251,253 4,902,843 (1,759,641) (1,586,507) (1,331,864) 1,210,534 (121,330) 3,491,612 3,195,006 91.5% Subtotals 90.6% 18,994,258 17,202,992 (3,758,401) (3,049,802) (585,595) (459,822) (2,453,724) 1,589,899 (863,825) 14,650,262 12,829,543 87.6% Repositioning(1) - - - - - - - - 105,878 - - - - Non-Core 79.7% 1,950,153 1,553,669 3,758,401 3,049,802 (3,248,514) (2,191,011) (1,180,800) 581,176 (599,624) 2,460,040 1,812,836 73.7% TOTALS 89.6% 20,944,411 18,756,661 - - (3,834,109) (2,650,833) (3,634,524) 2,276,953 (1,463,449) 17,110,302 14,642,379 85.6%

31 4Q 2017 Top 15 Tenants Office Portfolio Notes: See supporting “Top 15 Tenants” notes on page 44 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 3.9 410,604 2.9 (2) Bank Of Tokyo-Mitsubishi UFJ, Ltd. 1 11,388,534 2.9 282,606 2.0 (3) National Union Fire Insurance Company of Pittsburgh, PA 2 11,191,058 2.8 388,651 2.7 (4) Merrill Lynch Pierce Fenner 3 10,742,482 2.7 430,926 3.0 (5) Dun & Bradstreet Corporation 2 7,412,320 1.9 192,280 1.3 2023 Montefiore Medical Center 7 7,176,397 1.8 296,572 2.1 (6) Daiichi Sankyo, Inc. 1 6,640,664 1.7 171,900 1.2 2022 TD Ameritrade Services Company, Inc. 1 6,632,175 1.7 193,873 1.4 2020 DB Services New Jersey, Inc. 1 6,295,800 1.6 125,916 0.9 2019 HQ Global Workplaces, LLC 10 5,642,468 1.4 200,151 1.4 (7) KPMG, LLP 2 5,036,557 1.3 120,947 0.8 (8) ICAP Securities USA, LLC 2 4,699,088 1.2 111,562 0.8 (9) Vonage America, Inc. 1 4,637,500 1.2 350,000 2.4 2023 Investors Bank 2 4,383,791 1.1 139,296 1.0 (10) Pfizer, Inc. 1 4,306,008 1.1 113,316 0.8 2024 Totals 111,582,492 28.3 3,528,600 24.7

32 4Q 2017 Office Portfolio Lease Expirations Expirations by Year Notes: See supporting “Expirations” notes on page 44 Percentage of Total Average Annualized Base Net Rentable Area Leased Square Feet Annualized Base Rent Per Net Rentable Percentage of Annual Year of Expiration/Type Number of Subject to Expiring Represented by Rental Revenue Under Square Foot Represented Base Rent Under Leases Expiring (1) Leases (Sq. Ft.)(2)(3) Expiring Leases (%) Expiring Leases ($) (4) by Expiring Leases ($) Expiring Leases (%) 2018 Waterfront 23 888,933 6.2 33,407,071 37.58 8.5 Class A Suburban 17 78,958 0.5 2,319,469 29.38 0.6 Suburban 32 271,509 1.9 7,307,618 26.91 1.8 Flex Parks 45 252,365 1.8 4,283,897 16.98 1.1 Subtotal 117 1,491,765 10.4 47,318,055 31.72 12.0 Non-Core 49 355,538 2.5 8,772,973 24.68 2.2 TOTAL – 2018 166 1,847,303 12.9 56,091,028 30.36 14.2 2019 Waterfront 13 218,621 1.5 9,885,430 45.22 2.5 Class A Suburban 30 322,458 2.3 9,834,793 30.50 2.5 Suburban 32 403,823 2.8 11,138,081 27.58 2.8 Flex Parks 55 508,435 3.5 9,839,152 19.35 2.5 Subtotal 130 1,453,337 10.1 40,697,456 28.00 10.3 Non-Core 26 164,174 1.2 3,908,316 23.81 1.0 TOTAL – 2019 156 1,617,511 11.3 44,605,772 27.58 11.3 2020 Waterfront 8 70,779 0.5 2,597,918 36.70 0.7 Class A Suburban 26 237,167 1.7 8,125,302 34.26 2.0 Suburban 27 249,594 1.7 6,304,742 25.26 1.6 Flex Parks 43 314,592 2.2 5,686,618 18.08 1.4 Subtotal 104 872,132 6.1 22,714,580 26.04 5.7 Non-Core 45 299,489 2.1 6,959,459 23.24 1.8 TOTAL – 2020 149 1,171,621 8.2 29,674,039 25.33 7.5 2021 Waterfront 15 366,455 2.6 12,957,089 35.36 3.3 Class A Suburban 11 113,269 0.8 4,991,955 44.07 1.3 Suburban 20 187,580 1.3 5,297,089 28.24 1.3 Flex Parks 28 270,972 1.9 4,258,931 15.72 1.1 Subtotal 74 938,276 6.6 27,505,064 29.31 7.0 Non-Core 34 216,611 1.5 5,040,146 23.27 1.3 TOTAL – 2021 108 1,154,887 8.1 32,545,210 28.18 8.3

33 4Q 2017 Office Portfolio Lease Expirations (Cont.) Expirations by Type Expirations by Year (Cont.) Notes: See supporting “Expirations” notes on page 44 Percentage of Total Average Annualized Base Net Rentable Area Leased Square Feet Annualized Base Rent Per Net Rentable Percentage of Annual Year of Expiration/Type Number of Subject to Expiring Represented by Rental Revenue Under Square Foot Represented Base Rent Under Leases Expiring (1) Leases (Sq. Ft.)(3)(4) Expiring Leases (%) Expiring Leases ($) (2) by Expiring Leases ($) Expiring Leases (%) 2022 Waterfront 12 253,723 1.8 7,918,028 31.21 2.0 Class A Suburban 11 99,512 0.7 3,263,251 32.79 0.8 Suburban 28 245,640 1.7 6,474,555 26.36 1.7 Flex Parks 37 302,401 2.1 5,268,389 17.42 1.3 Subtotal 88 901,276 6.3 22,924,223 25.44 5.8 Non-Core 24 202,880 1.4 4,253,970 20.97 1.1 TOTAL – 2022 112 1,104,156 7.7 27,178,193 24.61 6.9 2023 Waterfront 9 299,607 2.1 9,851,601 32.88 2.5 Class A Suburban 13 258,345 1.8 9,488,188 36.73 2.4 Suburban 25 839,622 5.9 20,337,140 24.22 5.1 Flex Parks 29 415,958 2.9 5,737,592 13.79 1.5 Subtotal 76 1,813,532 12.7 45,414,521 25.04 11.5 Non-Core 16 182,453 1.3 4,629,133 25.37 1.2 TOTAL – 2023 92 1,995,985 14.0 50,043,654 25.07 12.7 2024 AND THEREAFTER Waterfront 51 2,002,371 14.0 67,402,328 33.66 17.1 Class A Suburban 30 631,364 4.4 23,053,062 36.51 5.9 Suburban 52 1,298,775 9.1 33,485,622 25.78 8.5 Flex Parks 56 1,101,219 7.7 20,531,847 18.64 5.2 Subtotal 189 5,033,729 35.2 144,472,859 28.70 36.7 Non-Core 23 372,555 2.6 9,326,615 25.03 2.4 TOTAL – 2024 AND THEREAFTER 212 5,406,284 37.8 153,799,474 28.45 39.1 Percentage of Total Average Annualized Base Net Rentable Area Leased Square Feet Annualized Base Rent Per Net Rentable Percentage of Annual Number of Subject to Expiring Represented by Rental Revenue Under Square Foot Represented Base Rent Under Leases Expiring (1) Leases (Sq. Ft.)(3)(4) Expiring Leases (%) Expiring Leases ($) (2) by Expiring Leases ($) Expiring Leases (%) TOTALS BY TYPE Waterfront 131 4,100,489 28.7 144,019,463 35.12 36.6 Class A Suburban 138 1,741,073 12.2 61,076,021 35.08 15.5 Suburban 216 3,496,543 24.5 90,344,848 25.84 22.9 Flex Parks 293 3,165,942 22.1 55,606,426 17.56 14.1 Subtotal 778 12,504,047 87.5 351,046,758 28.07 89.1 Non-Core 217 1,793,700 12.5 42,890,612 23.91 10.9 Totals/Weighted Average 995 14,297,747 100.0 $393,937,370 $27.55 100.0

Roseland (RRT) 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 Platform Poised for Sustained Growth: 4Q NAV was approximately $1.73B, comprised of $159M of Rockpoint equity and $1.57B of MC equity ($15.61/share) Rockpoint has an additional $150M capital commitment to Roseland Simplified ownership, with subordinate interests reduced to 542 apartments (82% reduction compared to 3,025 units at year-end 2015) Continues efforts to redevelop underperforming office holdings to higher valued residential use (i.e. Signature Place in Morris Plains, NJ) Pipeline of 10,957 units of strategically located land holdings includes 4,807 units in Jersey City and 1,704 units in Port Imperial—nearly all with zoning in place Lease-up communities have absorbed quickly in the market: 2017 Deliveries of 1,162 units are currently 96.7% leased Rents in our stabilized Jersey City holdings grew by 1.8% over the last year despite the simultaneous lease-up of several adjacent luxury buildings We forecast continued growth in residential NOI after debt service from the delivery of our 1,944 unit/key in-construction portfolio c 35 4Q 2017 Roseland Highlights Roseland Residential 2017 2018 2019 Operating & Construction Apts. (projected) 7,770 9,806 10,556 Future Development Apts. 10,957 8,921 8,171 % Growth in Operating & Construction Units - 26.2% 7.6%

2015/2016 Achievements - Development Development Activity and Cash Flow Growth 4Q 2017 Roseland Residential Note: Projected stabilized yield without the Marriott Hotels at Port Imperial is 6.27 percent. $ in millions (unaudited) Projected RRT RRT Nominal % Leased As of: Projected Projected Total Share of Stabilized Ownership As of 2/12/2018 Initial Occupancy Units Yield NOI NOI After Debt Service 2017 Lease-Ups Urby Harborside 85.00% 96.3% Q1 2017 762 6.72% $18.5 $9.9 Chase II at Overlook Ridge 100.00% 97.6% Q4 2016 292 6.52% 5.2 2.7 Quarry Place at Tuckahoe 100.00% 97.2% Q4 2016 108 6.61% 2.8 1.1 Total 2017 Lease-Ups 90.16% 96.7% 1,162 6.66% $26.5 $13.7 In-Construction Portfolio Q1 2018 Deliveries Signature Place at Morris Plains 100.00% Q1 2018 197 6.64% $3.9 $2.2 Residences at City Square 100.00% Q1 2018 365 6.41% 5.9 3.6 Lofts at 40 Park 25.00% Q1 2018 59 6.72% 1.2 0.3 Total Q1 2018 Deliveries 92.87% 621 6.51% $11.0 $6.1 Q2 2018 Deliveries Portside 5/6 100.00% Q2 2018 296 6.18% $6.9 $4.0 RiverHouse 11 at Port Imperial 100.00% Q2 2018 295 6.16% 7.7 4.7 Total Q2 2018 Deliveries 100.00% 591 6.17% $14.6 $8.7 Q3 2018 Deliveries Marriott Hotels at Port Imperial 90.00% Q3 2018 372 10.25% $14.3 $9.5 Total Q3 2018 Deliveries 90.00% 372 10.25% $14.3 $9.5 Q4 2020 Deliveries PI North – Riverwalk C 40.00% Q4 2020 360 6.01% $11.2 $2.6 Total Q4 2020 Deliveries 40.00% 360 6.01% $11.2 $2.6 Total In-Construction 84.70% 1,944 7.03% (1) $51.1 $26.9 Total 86.74% 3,106 6.89% $77.6 $40.6 36

Roseland Balance Sheet 37 4Q 2017 Roseland Residential $ in thousands (unaudited) Q4 2017 Q3 2017 Q2 2017 Q1 2017 Q4 2016 ASSETS Rental Property Land and leasehold interests $342,170 $335,382 $333,385 $274,618 $210,697 Construction in Progress 419,685 331,574 266,861 239,095 217,920 Buildings and improvements 905,622 909,339 917,777 627,079 582,361 Furniture, Fixtures and Equipment 26,193 25,608 24,361 20,260 18,312 Total Gross Rental Property 1,693,670 1,601,903 1,542,384 1,161,052 1,029,290 Less: Accumulated Depreciation (55,087) (48,542) (46,724) (39,794) (41,186) Net Investment in Rental Property 1,638,583 1,553,361 1,495,660 1,121,258 988,104 Assets Held for Sale, Net 2,634 2,311 - - - Total Property Investments 1,641,217 1,555,672 1,495,660 1,121,258 988,104 Cash and cash equivalents 6,108 8,288 4,935 144,926 17,186 Investments in unconsolidated JV's 237,321 223,628 229,743 241,965 238,498 Unbilled rents receivable, net 1,248 1,512 961 519 165 Deferred Charges & Other Assets 42,974 46,564 43,585 43,404 33,736 Restricted Cash 6,053 6,392 5,138 4,331 3,280 Accounts receivable, net of allowance 2,787 2,086 1,548 2,781 3,559 Total Assets $1,937,708 $1,844,142 $1,781,570 $1,559,184 $1,284,528 LIABILITIES & EQUITY Mortgages, loans payable & other obligations $769,743 $698,807 $635,398 $424,957 $283,104 Note Payable to Affiliate 24,924 10,329 5,000 - - Accounts pay, accrued exp and other liabilities 79,034 71,499 69,389 51,089 36,945 Rents recv'd in advance & security deposits 3,870 3,871 4,049 2,958 2,406 Accrued interest payable 1,481 1,588 1,294 1,251 420 Total Liabilities $879,052 786,094 715,130 480,255 322,875 Redeemable Noncontrolling Interest - Rockpoint 159,884 156,746 153,703 150,527 - Noncontrolling Interests in Consolidated Joint Ventures 19,069 19,172 19,239 20,468 20,707 Mack-Cali Capital 879,703 882,130 893,498 907,934 940,946 Total Liabilities & Equity $1,937,708 $1,844,142 $1,781,570 $1,559,184 $1,284,528

Roseland Income Statement 38 4Q 2017 Roseland Residential $ in thousands (unaudited) Q4 2017 Q3 2017 Q2 2017 Q1 2017 Q4 2016 REVENUE: Base Rents $16,424 $16,147 $15,515 $9,350 $9,000 Escalations and recoveries from tenants 510 705 629 417 344 Real Estate Services 4,663 5,218 5,290 5,617 5,986 Parking Income 2,112 2,168 2,223 1,590 1,642 Other Income 571 585 460 460 387 Total Revenue $24,280 $24,823 $24,117 $17,434 $17,359 EXPENSES: Real Estate Taxes 2,868 3,013 3,013 2,297 1,747 Operating Services 9,207 10,858 10,634 9,978 10,405 Net Operating Income $12,205 $10,952 $10,470 $5,159 $5,207 General and Administrative 3,472 2,918 2,960 2,372 3,782 Depreciation and Amortization 8,713 10,997 10,495 4,466 4,910 Total Other Expenses $12,185 $13,915 $13,455 $6,838 $8,692 Total Operating Income $20 ($2,963) ($2,985) ($1,679) ($3,485) OTHER (EXPENSE) INCOME: Interest Expense ($1,982) ($2,164) ($2,002) - ($1,985) Interest and other investment income (29) 42 20 $40 - Equity in Earnings in Unconsolidated JV's (1,390) (2,591) (3,280) (464) (1,061) Gain on Sale of Investment in Unconsolidated JV's - (1,430) - 5,149 - Loss from Extinguishment of Debt (182) - - - - Total Other (Expense) Income ($3,583) ($6,143) ($5,262) $4,725 ($3,046) Income from Continuing Operations ($3,563) ($9,106) ($8,247) $3,046 ($6,531) Discontinued Operations (Net) Realized Gain/(Loss) on Asset Disposition - $2,915 - - ($7) Net Income (Loss) ($3,563) ($6,191) ($8,247) $3,046 ($6,538) Noncontrolling Interest in Consolidated JV's 104 67 165 239 146 Redeemable Noncontrolling Interest Distributions (2,227) (2,227) (2,227) (528) - Net Income Available to Common Shareholders ($5,686) ($8,351) ($10,309) $2,757 ($6,392)

$ in thousands, except per home Operating & Lease-Up Communities 39 4Q 2017 Roseland Residential Notes: See supporting “Operating & Lease-Up Communities” notes on page 44 Q4 2017 Percentage Leased (Stabilized): 96.6% Q4 2017 Avg. Revenue Per Home (Stabilized): $2,662 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 Q4 2017 Q3 2017 Q4 2017 Q3 2017 Q4 2017 Q3 2017 YTD 2017 Balance Consolidated Alterra at Overlook Ridge Revere, MA 100.00% 722 663,139 918 2008 96.5% 97.9% $1,947 $1,911 $2,574 $2,107 $9,421 $100,000 The Chase at Overlook Ridge Malden, MA 100.00% 664 598,161 901 2014 97.6% 97.5% $1,997 1,924 2,453 1,985 7,234 135,750 Park Square Rahway, NJ 100.00% 159 184,957 1,163 2009 96.2% 95.0% 2,072 2,046 392 327 1,472 26,567 Riverwatch New Brunswick, NJ 100.00% 200 147,852 739 1997 92.0% 95.5% 1,847 1,847 644 466 2,056 - Monaco Jersey City, NJ 100.00% 523 475,742 910 2011 96.0% 98.3% 3,543 3,576 3,717 3,799 15,062 165,000 Portside at East Pier - 7 East Boston, MA 100.00% 175 156,091 892 2015 97.8% 97.8% 2,760 2,739 1,007 1,008 3,958 58,998 Consolidated 100.00% 2,443 2,225,942 911 96.40% 97.48% $2,361 $2,334 $10,787 $9,692 $39,203 $486,315 Joint Ventures RiverTrace at Port Imperial West New York, NJ 22.50% 316 295,767 936 2014 95.9% 97.8% $3,141 $3,211 $1,839 $1,833 $7,273 $82,000 M2 Jersey City, NJ 24.27% 311 273,132 878 2016 98.4% 98.4% 3,398 3,234 2,101 2,014 8,020 74,690 RiverPark at Harrison Harrison, NJ 45.00% 141 125,498 890 2014 95.0% 96.5% 2,232 2,165 422 342 1,684 30,000 Urby at Harborside (1) Jersey City, NJ 85.00% 762 474,476 623 2017 97.2% 90.8% 2,820 2,852 2,984 1,521 3,624 189,853 Station House Washington, DC 50.00% 378 290,348 768 2015 95.0% 95.8% 2,640 2,727 1,841 1,988 7,911 100,070 Joint Ventures 54.86% 1,908 1,459,221 765 96.6% 94.6% $2,888 $2,898 $9,187 $7,698 $28,512 $476,613 Subordinate Interests(2) Marbella Jersey City, NJ 24.27% 412 369,515 897 2003 96.6% 97.6% $3,179 $3,217 $2,547 $2,450 $10,224 $95,000 Metropolitan at 40 Park Morristown, NJ 12.50% 130 124,237 956 2010 99.2% 97.7% 3,383 3,406 798 761 3,149 36,841 Subordinate Interests 21.45% 542 493,752 911 97.2% 97.6% $3,228 $3,262 $3,345 $3,211 $13,373 $131,841 Total Residential - Stabilized 73.70% 4,893 4,178,915 854 96.6% 96.4% $2,662 $2,657 $23,319 $20,601 $81,088 $1,094,769 Lease-up / Repositions Consolidated Quarry Place at Tuckahoe Eastchester, NY 100.00% 108 105,509 977 2016 84.3% 68.5% $3,182 $3,236 $203 $173 $274 $41,000 Consolidated 100.00% 108 105,509 977 84.3% 68.5% $3,182 $3,236 $203 $173 $274 $41,000 Joint Ventures Crystal House (3) Arlington, VA 25.00% 825 738,786 895 1962/2017 94.2% 93.7% $2,075 $2,072 $3,038 $2,881 $10,465 $165,000 Joint Ventures 25.00% 825 738,786 895 94.2% 93.7% $2,075 $2,072 $3,038 $2,881 $10,465 $165,000 Total Residential - Operating Communities (4) 67.29% 5,826 5,023,210 862 96.01% 95.48% $2,589 $2,585 $26,560 $23,655 $91,827 $1,300,769 Total Commercial 76.72% 731,862 69.33% 69.33% $1,056 $1,255 $3,881 $42,776

In-Construction Communities 40 4Q 2017 Roseland Residential Roseland’s share of NOI after debt service is projected to approximate $26.9 million (approximates to FFO) $ in thousands Notes: See supporting “In-Construction Communities” notes on page 44 Project Capitalization - Total Capital as of 4Q-17 Development Schedule Third Projected Projected Apartment MCRC Party Dev 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 $89,102 $43,674 $41,868 Q3 2015 Q3 2018 Q3 2019 $14,291 10.25% Residences at City Square Worcester, MA 100.00% 365 92,713 58,000 34,713 0 72,377 37,821 34,556 Q3 2015 Q1 2018 Q2 2019 5,942 6.41% Signature Place at Morris Plains Morris Plains, NJ 100.00% 197 58,651 42,000 16,651 0 49,142 32,491 16,651 Q4 2015 Q1 2018 Q1 2019 3,894 6.64% Portside 5/6 East Boston, MA 100.00% 296 111,389 73,000 38,389 0 84,166 45,778 38,389 Q4 2015 Q2 2018 Q2 2019 6,882 6.18% RiverHouse 11 at Port Imperial Weehawken, NJ 100.00% 295 124,975 78,000 46,975 0 83,579 46,113 37,465 Q1 2016 Q2 2018 Q2 2019 7,693 6.16% Consolidated 97.56% 1,525 $527,156 $345,000 $178,596 $3,560 $378,366 $205,877 $168,929 $38,702 7.28% Joint Ventures Lofts at 40 Park Morristown, NJ 25.00% 59 $17,972 $13,950 $2,011 $2,011 $13,678 $10,207 $1,740 Q3 2016 Q1 2018 Q1 2019 $1,208 6.72% PI North - Riverwalk C West New York, NJ 40.00% 360 186,500 112,000 29,800 44,700 43,874 0 17,550 Q4 2017 Q4 2020 Q4 2021 11,150 5.98% Joint Ventures 37.89% 419 $204,472 $125,950 $31,811 $46,711 $57,552 $10,207 $19,290 $12,358 6.04% Total In-Construction Communities 84.70% 1,944 $731,628 $470,950 $210,407 $50,271 $435,918 $216,084 $188,219 $51,060 6.98% (2) 2018 MCRC Remaining Capital 238,198 197,354 $22,188 2019 MCRC Remaining Capital 46,185 46,185 0 2020 MCRC Remaining Capital 11,327 11,327 0 Total Remaining Capital 295,710 254,866 22,188

As of December 31, 2017, the Company had a future development portfolio of approximately 10,957 residential units 2018/2019 probable starts of 2,786 are located in close proximity to operating RRT assets Future Start Communities 41 4Q 2017 Roseland Residential Future Developments Location Apartment Freehold (2) Freehold, NJ 400 1633 Littleton (repurposing) Parsippany, NJ 345 Identified Repurposing IIIA Essex County, NJ 140 Identified Repurposing IIIB Essex County, NJ 140 Subtotal - Northeast Corridor 1,025 Overlook IIIA Malden, MA 445 Overlook IV Malden, MA 45 Subtotal - Boston Metro 490 Crystal House - III Arlington, VA 252 Crystal House - Future Arlington, VA 300 Subtotal - Washington, DC 552 Notes: See supporting “Future Start Communities” notes on page 44 Current 2018/2019 Probable Starts Location Apartments Ownership Target Start Plaza 8 Jersey City, NJ 679 100.00% Early – 2019 25 Christopher Columbus Drive Jersey City, NJ 718 100.00% Late – 2018 Urby at Harborside - II Jersey City, NJ 750 85.00% Early – 2019 PI South - Building 8/9 Weehawken, NJ 313 100.00% Early – 2019 Overlook IIIC Malden, MA 326 100.00% Late – 2018 2018/2019 Total Probable Starts 2,786 95.96% 2018/2019 Possible Starts PI South - Office 1/3 (1) Weehawken, NJ 200 100.00% Portside 1-4 East Boston, MA 300 100.00% 6 Becker Farm Roseland, NJ 299 100.00% 233 Canoe Brook Road - Hotel Short Hills, NJ 240 100.00% 233 Canoe Brook Road – Residential Short Hills, NJ 200 100.00% 1 Water Street White Plains, NY 304 100.00% 2018/2019 Total Possible Starts 1,543 100.00% 51 Washington Street Conshohoken, PA 304 150 Monument Road Bala Cynwyd, PA 206 Subtotal - Philadelphia 510 Future Developments Location Apartment PI South - Building 16 Weehawken, NJ 131 PI South - Park Parcel Weehawken, NJ 224 Urby at Harborside - III Jersey City, NJ 750 Plaza 9 Jersey City, NJ 1,060 Liberty Landing Phase I Jersey City, NJ 265 Liberty Landing - Future Phases Jersey City, NJ 585 PI South - Building 2 Weehawken, NJ 200 PI North - Riverbend 6 West New York, NJ 471 PI North - Building I West New York, NJ 224 PI North - Building J West New York, NJ 141 Subtotal - Hudson River Waterfront 4,051 2018/2019 Probable Starts 2,786 2018/2019 Possible Starts 1,543 Total Future Start Communities 10,957

Residential Equity Requirements 42 4Q 2017 Roseland Residential As summarized in the table below, Mack-Cali is planning on and expects to have excess capital sources available to achieve the following key objectives: Complete Roseland’s in-construction portfolio of 1,944 units Complete Roseland’s funding requirement for 2018/2019 Probable Starts comprising 2,786 units Notes: (1) Represents capital sources prior to reinvestment of Roseland cash flow generation. $ in thousands Construction Capital Units Total Cost Debt Requirement Comment USE: In-Construction Portfolio In-Construction Portfolio Represents remaining requirements for the in construction portfolio as summarized on Page 40 1,944 $295,700 $254,900 $40,800 Less: Existing JV Partner Commitments Represents third party capital commitments (Riverwalk C) (18,700) Remaining Roseland Capital (to be funded by Company cash) $22,100 USE: Probable 2018/2019 Starts Probable 2018/2019 Starts Represents five Probable 2018 and 2019 starts in our core geographies in close proximity to existing operations 2,786 $1,380,700 $832,000 $548,700 Less: Land Equity to Date Represents the Company's existing land equity in Probable Starts (~$55,000/unit) (155,700) Less: Existing JV Partner Commitments Represents third party capital commitments (Urby II) (28,700) Roseland Capital Obligation $364,300 Potential Capital Sources Rockpoint Capital Represents the balance on Rockpoint's $300M commitment $150,000 Construction Refinancings Represents excess refinancing proceeds upon takeout financing on active in construction portfolio 110,000 Dispositions Represents select dispositions for redeployment of capital into Roseland's core geographies 163,000 New Project-level Joint Ventures Represents 50/50 joint ventures on select Roseland Probable Starts (capital source identified) 141,300 Total Roseland Capital Sources $564,300 2018/2019 Start Excess Capital Source Potential (1) $200,000

Appendix Key Financial Metrics - (Page 6) 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 16 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. Net debt to adjusted EBITDA is defined as the ratio of total consolidated debt to earnings before interest, taxes, depreciation and amortization inclusive of JV distributions. Balance Sheet - (Page 11) Includes land held for future development of $154,363 for Office/Corp. and $152,762 for Roseland as of 4Q 2017. Includes CIP and development in progress of $139,782 for Office/Corp. and $419,685 for Roseland as of 4Q 2017. Includes mark-to-market lease intangible net assets of $105,702 and mark-to-market lease intangible net liabilities of $49,141 as of 4Q 2017. Debt Summary & Maturity Schedule - (Page 18) 2016 term loan, maturing on January 7, 2019, has three year term with two 1-year extension options available. 2017 term loan, maturing on January 25, 2020, has three year term with two 1-year extension options available. The actual weighted average LIBOR rate for the Company’s outstanding variable rate debt was 1.23 percent as of December 31, 2017, plus the applicable spread. Excludes amortized deferred financing costs primarily pertaining to the Company’s unsecured revolving credit facility which amounted to $0.7 million and $3.3 million for the three and twelve months ended December 31, 2017. Debt Profile - (Page 19) 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. On January 8, 2018, the Company prepaid this loan in full upon payment of a fee of approximately $8.4 million using borrowings from the Company’s unsecured revolving credit facility. Senior unsecured debt is rated BBB-/Ba1/BB+ by S&P, Moody’s and Fitch respectively. Cost of terminated treasury lock agreements (if any), offering and other transaction costs and the discount/premium on the notes, as applicable. Three year term with two 1-year extension options available. Unconsolidated Joint Ventures- (Page 21) Amounts represent the Company’s share based on ownership percentage. Unconsolidated Joint Venture reconciliation is as follows: 2017 Office Investment Activity - (Page 22) Acquisitions list gross costs; dispositions list gross sales proceeds. Ground leased property. Weighted average cap rate calculated using forward 12-month NOI at period of sale. 2017 Residential Investment Activity - (Page 23) For development sites, represents target development units. The Company acquired the 50% joint venture membership interests in Plaza 8/9 for approximately $57 million. The acquisition was funded by a combination of cash and preferred equity issuance. Transaction represents total asset value; net RRT required capital to acquire remaining membership interest was $140 million (mostly funded by Rockpoint). Acquired $44.7 million note encumbering site. In addition, entered into a purchase and sale agreement to acquire the site subject to certain conditions. 43 4Q 2017 4Q 2017 Equity in Earnings of Unconsolidated Joint Ventures $1,199 Unconsolidated Joint Venture Funds from Operations 3,614 Joint Venture Share of Add-Back of Real Estate-Related Depreciation 4,813 Minority Interest in Consolidated Joint Venture Share of Depreciation (84) EBITDA Depreciation Add-Back $4,729 $ in thousands

Appendix - Continued Property Listing - (Page 27) The Class A Suburban Portfolio encompasses the category formally known as Urban Core. The Suburban Portfolio encompasses the category formally known as Suburban Core. Excludes non-core holdings targeted for sale at 2,460,040 SF; excludes consolidated repositionings taken offline totaling 513,101 SF. Total consolidated office portfolio of 17,623,403 SF. 700 Horizon Drive is under contract for sale and 600 Horizon Drive has an executed purchase and sale agreement. Includes annualized base rental revenue plus escalations for square footage leased to commercial and retail tenants only. Excludes leases for amenity, parking and month-to-month tenants. Annualized base rental revenue plus escalations is based on actual December 2017 billings times 12. For leases whose rent commences after January 1, 2018 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. Significant Tenants - (Page 31) Annualized base rental revenue is based on actual December 2017 billings times 12. For leases whose rent commences after January 1, 2018, 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. 120,251 square feet expire in 2018; 290,353 square feet expire in 2033. 45,256 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. 650 square feet expire in 2018; 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. 66,606 square feet expire in 2024; 54,341 square feet expire in 2026. 90,450 square feet expire in 2018; 21,112 square feet expire in 2025. 56,360 square feet expire in 2019; 82,936 square feet expire in 2026. Expirations - (Pages 32-33) 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. Includes leases in effect as of the period end date, some of which have commencement dates in the future, and leases expiring December 31, 2017 aggregating 343,217 square feet and representing annualized base rent of $12,957,693 for which no new leases were signed. Reconciliation to Company’s total net rentable square footage is as follows: Annualized base rental revenue is based on actual December 2017 billings times 12. For leases whose rent commences after January 1, 2018 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. Operating & Lease-up Communities - (Page 39) Property Stabilized in 4Q 2017. As of December 31, 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 40) Represents maximum loan proceeds Projected stabilized yield without the hotel project is 6.27 percent. Future Start Communities - (Page 41) Currently approved for approximately 290,000 square feet of office space. Roseland has signed an acquisition agreement, subject to certain conditions. 44 4Q 2017 Square Feet Square footage leased to commercial tenants 14,297,747 Square footage used for corporate offices, management offices, building use, retail tenants, food services, other ancillary service tenants and occupancy adjustments 344,632 Square footage unleased 2,467,923 Total net rentable square footage (excluding ground leases) 17,110,302

Global Definitions 45 Average Revenue Per Home: Calculated as total apartment revenue for the quarter ended December 31, divided by the average percent occupied for the quarter ended December 31, 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: Long-term hold office properties (excluding Class A Suburban and Waterfront locations); formerly defined as Suburban Core 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. Class A Suburban: Long-term hold office properties in targeted submarkets; formerly defined as Urban Core. Operating Communities: Communities that have achieved Project Stabilization. Waterfront: Office assets located on NJ Hudson River waterfront. 4Q 2017

46 4Q 2017 Company Information, Executive Officers & Analysts 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 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 Deidre Crockett, Senior Vice President of Corporate Communications and Investor Relations 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, Roseland Residential Trust and Executive Vice President, Development General Counsel and Secretary EVP and Chief Investment Officer Executive Vice President, Leasing

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, 2017. 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 Annual Report on Form 10-K (the “10-K”) 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-K, the footnotes thereto and the limitations set forth therein. Investors may not rely on the Supplemental Package without reference to the 10-K and the Public Filings. Any investors’ receipt of, or access to, the information contained herein is subject to this qualification. 47 4Q 2017