Company Overview Corporate Profile Key Statistics 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 in transit based locations targeting cash flow growth through all economic cycles. Company Objectives Company Ma rket Ca pi ta l i za ti on Net As s et Va l ue (Mi dpoi nt) Core FFO Core FFO Per Di l uted Sha re AFFO $4.5 bi l l i on $3.6 bi l l i on $50.7 mi l l i on $0.50 $36.3 mi l l i on $5.2 bi l l i on $3.8 bi l l i on $50.2 mi l l i on $0.50 $37.7 mi l l i on 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 portfolio. Mack-Cali’s residential portfolio, via our Roseland Residential platform, is a market-leading residential developer and owner of Class A properties. We Office Portfolio expect continued growth and cash flow contribution from our Roseland holdings as our development pipeline planned starts is put into service. of active construction projects and Squa re Feet of Offi ce Spa ce Cons ol i da ted In-Servi ce Properti es % Lea s ed Offi ce (Excl . Non-Core) % In-Pl a ce Occupa ncy (Excl . Non-Core) GAAP Renta l Ra te Rol l -Up (Excl . Non-Core) Ca s h Renta l Ra te Rol l -Up (Excl . Non-Core) Avera ge In-Pl a ce Rent Per Squa re Foot 15.4 mi l l i on 123 85.2% 84.6% 10.1% 4.7% $30.17 17.1 mi l l i on 142 87.6% 86.8% 17.9% 9.6% $28.80 Residential Portfolio Opera ti ng Res i denti a l Uni ts 5,826 5,826 % Lea s ed Sta bi l i zed Res i denti a l Avera ge Rent Per Sta bi l i zed Uni t In-Cons tructi on Res i denti a l Uni ts /Keys (1) 97.3% $2,683 96.6% $2,662 1,944 1,944 Urby Harborside, Jersey City, NJ Notes: See supporting “Company Overview” notes on page 43 Company Highlights 1Q 2018 4 1Q 20184Q 2017

Company Achievements Performance Highlights • • • Achieved Core FFO of $50.7 million, or $0.50 per share Produced AFFO of $36.3 million Office: Leased 235,032 square feet of office space; finished 1Q 2018 at 85.2% leased (excluding non-core) Dispositions •In the quarter ended March 31, 2018, the Company disposed of 20 non-core buildings totaling 1,737,954 rentable square feet for $232 million in gross sales price (see page 23) 1Q 2018 Deliveries •The Company began leasing activities at 145 Front Street at City Square – Phase I, 237 units of a 365-unit development, in Worcester, MA and Signature Place, a 197-unit development in Morris Plains, NJ. As of April 30: •145 Front Street: 18.4% leased; 28.3% leased Phase I •Signature Place: 27.4% leased •Subsequent to quarter-end, the Company commenced leasing activities at Portside 5/6 at East Pier, a 296-unit continuation of our East Boston master-planned community and Metropolitan Lofts, a 59-unit development in Morristown, NJ. As of April 30: •Portside 5/6: 31.4% leased •Metropolitan Lofts: 22.0% leased Monaco, Jersey City, NJ Key Activities •In the quarter-ended March 31, 2018, the Company prepaid three loans with a blended effective interest rate of 6.788%: • • • Plaza 5, a $208.9 million mortgage @ 6.842% 23 Main Street, a $27.0 million mortgage @ 5.587% One River Center, a $40.3 million mortgage @ 7.311% 150 JFK Pkwy, Short Hills, NJ Company Highlights 1Q 2018 5

$ in thousands, except per share amounts and ratios Key Financial Metrics Core FFO pe r Di l ute d Sha re (1) Ne t I ncome pe r Di l ute d Sha re Ma rke t Va l ue of Equi ty (2) Common Equi ty Pre fe rre d Equi ty OP Equi ty Book Va l ue of JV Mi nori ty I nte re s t 0.50 0.45 $1,893,848 1,676,855 164,669 52,324 0.50 (0.01) $2,396,851 2,163,610 159,884 52,324 0.57 0.39 $2,607,433 2,379,356 156,746 52,324 0.60 (0.44) $2,949,047 2,723,574 153,702 52,324 0.56 0.11 $2,922,371 2,698,962 150,527 52,187 21,003 21,033 18,998 19,447 20,695 Tota l De bt, Ne t Tota l Ma rke t Ca pi ta l i za ti on 2,615,211 4,530,061 2,809,568 5,206,419 2,839,186 5,446,619 2,950,219 5,899,266 2,731,204 5,653,575 Shares and Units: Common Sha re s Ou ts ta ndi ng Common Uni ts Ou ts ta ndi ng Combi ne d Sha re s a nd Uni ts We i ghte d Ave ra ge - Di l ute d (2) Com m on S ha re Pri ce ( $’s ) : 90,136,278 10,269,204 100,405,482 100,603,901 89,914,113 10,438,855 100,352,968 100,467,893 89,913,576 10,438,855 100,352,431 100,727,006 89,913,919 10,438,855 100,352,774 100,369,717 89,844,752 10,339,443 100,184,195 100,636,886 At the End of the Pe ri od Hi gh Duri ng Pe ri od Low Duri ng Pe ri od Di vi de nds De cl a re d pe r Sha re Debt Ratios: $16.71 21.98 15.86 0.20 $21.56 24.04 21.18 0.20 $23.71 27.75 22.70 0.20 $27.14 28.57 25.96 0.20 $26.94 29.70 26.31 0.15 Ne t De bt to Ad jus te d EBI TDA (3) Ne t De bt to Ad jus te d EBI TDA - Le s s CI P De bt Ne t De bt to Ad jus te d EBI TDA - Offi ce Portfol i o Ne t De bt to Ad jus te d EBI TDA - Re s i de nti a l Portfol i o Ne t De bt to Ad jus te d EBI TDA - Re s i de nti a l Portfol i o Le s s CI P De bt I nte re s t Cove ra ge Ra ti o Fi xe d Cha rge Cove ra ge Ra ti o 8.8x 7.9x 7.5x 14.1x 9.8x 3.7x 2.5x 9.3x 8.6x 8.0x 17.6x 12.7x 3.3x 2.4x 8.0x 7.6x 6.9x 15.2x 10.8x 3.4x 2.6x 8.3x 7.8x 7.2x 18.7x 13.5x 3.5x 2.8x 8.5x 8.0x 8.2x 11.3x 5.9x 3.7x 2.9x Tota l De bt/ Tota l Ma rke t Ca pi ta l i za ti on 57.7% 56.7% 52.1% 50.0% 48.3% Tota l De bt/ Tota l Book Ca pi ta l i za ti on 54.3% 54.0% 56.8% 58.1% 55.6% Tota l De bt/ Tota l Unde pre ci a te d As s e ts 44.5% 46.5% 46.2% 47.5% 43.8% Se cure d De bt/ Tota l Unde pre ci a te d As s e ts Notes: See supporting “Key Metrics” notes on page 43 20.1% 23.5% 22.0% 21.9% 18.5% Company Highlights 1Q 2018 6 1Q 20184Q 20173Q 20172Q 20171Q 2017

$ in millions (except per share amounts) Net Asset (Unaudited) Value 117 Les s : Rockpoint Interes t (173) (182) (164) Total Residential NAV 18,727 $1,549 $1,692 $1,413 Notes: See footnotes and “Information About Net Asset Value (NAV)” on pages 9 and 10. Company Highlights 1Q 2018 7 Total Mack-Cali NAV $3,603 $4,118 $3,164 Approximate NAV / Share (100.6MM shares) (1 5 ) $35.82 $40.93 $31.45 NAV Calculation (2 ) High Low $1,807$1,384 548 455 688 613 594 510 $3,636$2,962 76 76 42 42 90 90 56 56 39 39 117 117 $4,056$3,381 (1,441) (1,441) (136) (136) (53) (53) Rentable SF/ Projected Cap Rate Apt Units NOI (1 ) Office Portfolio MSF Huds on Wa terfront (Jers ey City) 4.884 $79.4 4.4% Cla s s A Suburba n (Metropa rk, Short Hills ) 1.951 42.3 6.8% Suburba n 4.203 55.9 8.6% Flex Pa rks 3.527 36.4 6.6% Subtotal (4 ) 14.565 $213.9 Non-Core (5 ) 0.842 Hotel a nd Other JV Interes ts (6 ) Ha rbors ide Pla za 4 Wegma n's & Reta il (7 ) La nd (8 ) Repos itioning Properties (9 ) Office - Asset Value 15.407 Les s : Office Uns ecured Debt Les s : Ma rket Ma na gement Fee (1 0 ) Les s : Office Preferred Equity/LP Interes ts Gross Asset Gross Per SF / Value Unit (1 0 ) (A) $1,820 $373 623 319 648 154 549 156 $3,640 $250 76 212 90 56 39 117 $4,075 Property Third Party Discounting Debt Interests (1 3 ) (B) (C) (D) ($250) $0 $0 (125) 0 0 0 0 0 0 0 0 ($375) $0 $0 0 0 0 (129) (41) 0 0 0 0 0 0 0 0 0 0 0 0 0 ($504) ($41) $0 Net Asset Value (A-B-C-D) $1,570 498 648 549 $3,265 76 42 90 56 39 $3,684 (1,441) (136) (53) Total Office NAV 15.407 $2,054 $2,426 $1,751 Residential Portfolio Units Opera ting Properties - Wholly Owned 2,551 $48.8 4.9% Opera ting Properties - JVs (1 1 ) 2,733 64.4 4.8% Opera ting Properties - Subordina te JVs 542 15.9 5.1% In-Cons truction Properties (1 2 ) 1,944 52.6 5.3% Future Development Properties (8 ) 10,957 Fee Income Bus ines s & Ta x Credit Residential - Asset Value (1 4 ) 18,727 $1,009 $396 1,364 499 320 590 992 510 576 53 40 $4,301 ($527) $0 ($1) (680) (351) (3) (138) (148) 0 (469) (100) (62) 0 (100) 0 0 0 0 ($1,814) ($699) ($66) $481 330 34 361 476 40 $1,722 $536 $431 366 297 38 31 394 326 500 452 40 40 $1,874 $1,577 Net Value Range (3 )

Net Asset Value – Residential (Unaudited) Breakdown $ in millions Top NAV (net equity) Contributors Gross Portfolio Value Operating Properties Stabilized Gross Asset Value Le s s : Di s count for CI P Di s counte d Gros s As s e t Va l ue $4,301 (66) $4,235 Urby a t Ha rbors i de Mona co Al te rra a t Ove rl ook Ri dge Ports i de 7 & 5/6 a t Ea s t Pi e r Cha s e a t Ove rl ook Ri dge Subtotal Current/Future Development Properties $192 171 107 105 76 $651 12% 11% 7% 7% 5% 42% Le s s : Exi s ti ng De bt Le s s : 3rd Pa rty I nte re s ts Roseland Net Asset Value (1,814) (699) $1,722 Pl a za 8/9 Ma rri ott Hote l s a t Port I mpe ri a l Urby Future Pha s e s Ri ve rhous e 11 Re s i de nce s a t Ci ty Squa re Subtotal Top Contributing Assets $113 91 83 78 53 $418 $1,069 7% 6% 5% 5% 3% 27% 69% MCRC Sha re (14) Rockpoi nt Sha re $1,549 $173 NAV by Market New York Washington, D.C. Metro Philadelphia Metro 0.8% 1.6% 6.0% NJ Corridor 9.2% Valuation Spotlight - Operating Asset Value Ownership Whol l y Owne d Key Assets GAV $1,009 Per Unit NAV $481 Mona co, Al te rra , Cha s e a t Ove rl ook Ri dge Urby, M2 a t Ma rbe l l a , Crys ta l Hous e Ma rbe l l a $395,531 Joi nt Ve nture Subordi na te d I nte re s t Total 1,364 320 $2,693 499,085 590,406 330 34 $845 Boston Metro 22.0% Hudson River Waterfront 60.4% See footnotes and “Information About Net Asset Value (NAV)” on pages 9 and 10. Company Highlights 1Q 2018 8

Notes: Net Asset Value (Unaudited) (1) (2) 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. (3) (4) Office Huds on Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotal 4.884 1.951 4.203 3.527 14.565 $79.40 $42.25 $55.91 $36.35 $213.92 4.36% 6.78% 8.63% 6.62% $38.13 36.81 27.68 18.46 $30.17 $47.28 32.21 28.95 19.67 $33.29 92.00% 92.50% 88.00% 94.00% 6.00% 6.50% 8.00% 7.00% 7.00% 8.00% 9.00% 8.00% $1,820 623 648 549 $3,640 $373 319 154 156 $250 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. (5) 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. (6) (7) (8) 1Q 2018 9 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

Notes: Net Asset Value (Unaudited) (9) 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. Residential NOI calculations already account for management fee. 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 $51.3 million upon completion of the construction or lease-up activities, the Company deducts any estimated future costs totaling $62.0 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. Represents discounted NOI for assets not yet stabilized and required capital to complete assets. The residential valuation analysis totals to a Roseland NAV of $1,722,000,000, with the company’s share of this NAV of $1,549,000,000 (“MCRC Share”). This latter amount represents the company's share of Roseland NAV, net of the $173,000,000 attributable to Rockpoint's noncontrolling interest. The decrease in the approximate NAV per share of $1.92 from December 31, 2017 to March 31, 2018 is due primarily to slower lease up projections in the Waterfront office market, which more than offsets NOI growth within the portfolio of operating residential properties as well as the commencement of construction on Riverwalk C at Port Imperial. (10) (11) (12) (13) (14) (15) Information About Net Asset Value (NAV) 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. Company Highlights 1Q 2018 10

Balance Sheet $ in thousands (unaudited) ASSETS Rental property La nd a nd lea s ehold interes ts Buildings a nd improvements Tena nt improvements Furniture, fixtures a nd equipment La nd a nd improvements held for development Development a nd cons truction in progres s $414,502 3,419,151 330,686 30,247 483,432 535,971 5,102,844 (1,087,083) Les s – a ccumula ted deprecia tion a nd a mortiza tion 4,015,761 171,578 Renta l property held for s a le, net Net Investment in Rental Property (1 ) Ca s h a nd ca s h equiva lents Res tricted ca s h Inves tments in uncons olida ted joint ventures Unbilled rents receiva ble, net Deferred cha rges , goodwill a nd other a s s ets , net (2) Accounts receiva ble, net of a llowa nce for doubtful a ccounts of $763 a nd $1,138 Total Assets LIABILITIES & EQUITY 4,187,339 28,180 39,792 252,626 100,842 342,320 6,786 $4,957,885 Senior uns ecured notes , net Uns ecured revolving credit fa cility a nd term loa ns Mortga ges , loa ns pa ya ble a nd other obliga tions , net Note Pa ya ble to Affilia te Dividends a nd dis tributions pa ya ble Accounts pa ya ble, a ccrued expens es a nd other lia bilities (2) Rents received in a dva nce a nd s ecurity depos its Accrued interes t pa ya ble Total Liabilities Commitments a nd contingencies Redeema ble noncontrolling interes ts Total Stockholders’/Members Equity Noncontrolling interes ts in s ubs idia ries : Opera ting Pa rtners hip Cons olida ted joint ventures Total Noncontrolling Interests in Subsidiaries Total Equity Total Liabilities and Equity $569,145 822,288 1,418,135 - 21,158 192,716 43,993 9,519 3,076,954 - 212,208 1,476,295 171,395 21,033 192,428 1,668,723 $4,957,885 Notes: See “Balance Sheet Detail” on page 43 for more information. Company Highlights 1Q 2018 11 4Q 2017 1Q 2018 Office/Corp. Roseland Elim./Other Total $278,869 2,480,851 311,320 4,730 213,081 72,287 $137,867 - 803,438 - 458 - 27,329 - 279,673 - 500,743 - 1,749,508 - (61,386) - 1,688,122 - 2,634 - 1,690,756 - 7,178 - 5,728 - 234,630 - 950 - 37,926 (17,300) 2,260 - $1,979,428 ($17,300) - - - - 810,281 - 17,300 (17,300) - - 78,076 - 4,089 - 2,064 - 911,810 (17,300) - - 173,002 - 875,665 - - - 18,951 - 18,951 - 894,616 - $1,979,428 ($17,300) $416,736 3,284,289 311,778 32,059 492,754 573,030 3,361,138 (994,176) 5,110,646 (1,055,562) 2,366,962 35,932 4,055,084 38,566 2,402,894 4,093,650 18,129 29,102 14,883 97,468 285,931 5,071 25,307 34,830 249,513 98,418 306,557 7,331 $2,853,478 $4,815,606 $569,438 863,738 371,754 - 21,357 119,929 36,521 12,122 $569,438 863,738 1,182,035 - 21,357 198,005 40,610 14,186 1,994,859 - 52,324 632,426 171,817 2,052 2,889,369 - 225,326 1,508,091 171,817 21,003 173,869 192,820 806,295 1,700,911 $2,853,478 $4,815,606

Income Statement – Quarterly Comparison $ in thousands, except per share amounts (unaudited) REVENUES Ba s e rents Es ca la tion a nd recoveries from tena nts Rea l es ta te s ervices Pa rking income Other income Total revenues EXPENSES Rea l es ta te ta xes Utilities Opera ting s ervices Rea l es ta te s ervice expens es Genera l a nd a dminis tra tive Deprecia tion a nd a mortiza tion Total expenses Operating Income OTHER (EXPENSE) INCOME Interes t expens e Interes t a nd other inves tment income (los s ) Equity in ea rnings (los s ) of uncons olida ted joint ventures Rea lized ga ins (los s es ) a nd unrea lized los s es on dis pos ition Ga in on s a le of inves tment in uncons olida ted joint venture Ga in (los s ) from ea rly extinguis hment of debt, net Total other income (expense) Net income (loss) Noncontrolling interes t in cons olida ted joint ventures Noncontrolling interes t in Opera ting Pa rtners hip Redeema ble noncontrolling interes t Net income (loss) available to common shareholders Basic earnings per common share: Net income (los s ) a va ila ble to common s ha reholders Diluted earnings per common share: Net income (los s ) a va ila ble to common s ha reholders Ba s ic weighted a vera ge s ha res outs ta nding Diluted weighted a vera ge s ha res outs ta nding $118,419 11,312 5,149 5,223 3,426 $128,643 16,385 5,748 5,766 3,476 $133,017 15,951 5,767 5,052 2,979 $121,255 15,119 6,465 4,229 2,819 $143,529 $160,018 $162,766 $149,887 $17,755 9,347 26,884 5,018 13,726 47,401 $21,300 11,480 26,312 6,207 13,140 52,375 $21,217 10,357 27,092 5,899 12,491 57,762 $21,092 11,414 27,091 6,270 11,592 47,631 $120,131 $130,814 $134,818 $125,090 $23,398 $29,204 $27,948 $24,797 ($22,490) 1,408 (1,199) 4,476 - (182) ($25,634) 762 (1,533) 31,336 10,568 - ($24,943) 122 (3,298) (38,954) - - ($20,321) 474 (51) 5,506 12,563 (239) ($17,987) $15,499 ($67,073) ($2,068) $5,411 $153 (299) (2,683) $44,703 $447 (4,413) (2,683) ($39,125) $181 4,296 (2,682) $22,729 $237 (2,295) (792) $2,582 $38,054 ($37,330) $19,879 ($0.01) $0.39 ($0.44) $0.11 ($0.01) 90,029 100,468 $0.39 90,023 100,727 ($0.44) 90,011 100,370 $0.11 89,955 100,637 Company Highlights 1Q 2018 12 4Q 2017 3Q 2017 2Q 2017 1Q 2017 1Q 2018 Office/ Corp. Roseland Total $96,583 12,219 234 3,412 2,659 $16,319 572 4,427 1,915 627 $23,860 $3,074 1,074 4,185 4,860 2,904 6,756 $22,853 $1,007 ($1,895) 412 1,712 - - - $229 $1,236 $118 - (2,344) ($990) $112,902 12,791 4,661 5,327 3,286 $115,107 $138,967 $15,287 11,430 21,433 76 13,181 34,541 $18,361 12,504 25,618 4,936 16,085 41,297 $95,948 $118,801 $19,159 ($18,180) 716 (140) 58,186 - (10,289) $20,166 ($20,075) 1,128 1,572 58,186 - (10,289) $30,293 $30,522 $49,452 ($88) (4,883) (455) $50,688 $30 (4,883) (2,799) $44,026 $43,036 $0.45 $0.45 90,263 100,604

FFO, Core FFO & AFFO – Quarterly Comparison $ in thousands, except per share amounts and ratios (unaudited) Net income (los s ) a va ila ble to common s ha reholders Add (deduct): Noncontrolling interes t in Opera ting Pa rtners hip Rea l es ta te-rela ted deprecia tion a nd a mortiza tion on continuing opera tions (1 ) Ga in on s a le of inves tment in uncons olida ted joint venture Rea lized ga ins a nd unrea lized los s es on dis pos ition of renta l property, net Funds from operations (2 ) Add/De duct: $43,036 4,883 45,602 - (58,186) $2,582 299 51,619 - (4,476) $38,054 4,413 57,231 (10,568) (31,336) ($37,330) (4,296) 63,156 - 38,954 $19,879 2,295 51,757 (12,563) (5,506) $35,335 $50,024 $57,794 $60,484 $55,862 Los s from extinguis hment of debt, net Severa nce/s epa ra tion cos ts on ma na gement res tructuring Core FFO Add (De duct) Non-Ca s h Ite ms : $10,289 5,052 $182 - - - - - $239 - $50,676 $50,206 $57,794 $60,484 $56,101 Stra ight-line rent a djus tments (3 ) Amortiza tion of ma rket lea s e inta ngibles , net (4 ) Amortiza tion of lea s e inducements Amortiza tion of s tock compens a tion Non rea l es ta te deprecia tion a nd a mortiza tion Amortiza tion of debt dis count/(premium) a nd ma rk-to-ma rket, net Amortiza tion of deferred fina ncing cos ts De duct: ($2,742) (2,130) 294 2,657 511 (237) 1,096 ($3,685) (2,234) 444 2,303 511 (201) 1,150 ($6,360) (2,254) 535 2,291 505 (164) 1,184 ($3,240) (2,187) 446 2,167 349 (163) 1,175 ($3,013) (1,577) 278 1,168 377 241 1,103 Non-incrementa l revenue genera ting ca pita l expenditures : Building improvements Tena nt improvements a nd lea s ing commis s ions (5 ) Tena nt improvements a nd lea s ing commis s ions on s pa ce va ca nt for more tha n one yea r Adjusted FFO (2 ) Core FFO (calculated above) De duct: (1,666) (4,468) (7,695) (2,842) (4,791) (2,761) (1,664) (5,110) (6,667) (3,303) (8,150) (4,956) (4,969) (3,965) (7,160) $36,296 $38,100 $40,090 $42,622 $38,584 $50,676 $50,206 $57,794 $60,484 $56,101 Equity in ea rnings (los s ) of uncons olida ted joint ventures , net Equity in ea rnings s ha re of deprecia tion a nd a mortiza tion Add-ba ck: ($1,572) (4,815) $1,199 (4,729) $1,533 (5,260) $3,298 (5,844) $51 (4,503) Interes t expens e Recurring JV dis tributions (6 ) Income (los s ) in non-controlling interes t in cons olida ted joint ventures Redeema ble noncontrolling interes t Adjusted EBITDA Net debt a t period end (7 ) Net debt to Adjus ted EBITDA (8 ) Diluted weighted a vera ge s ha res /units outs ta nding (9 ) Funds from opera tions per s ha re-diluted Core Funds from Opera tions per s ha re/unit-diluted Dividends decla red per common s ha re Notes: See footnotes and “Information About FFO, Core FFO, & AFFO” on page 17. 20,075 6,690 (30) 2,799 22,490 2,862 (153) 2,683 25,634 4,057 (447) 2,683 24,943 2,479 (181) 2,682 20,321 3,242 (237) 792 $73,823 $74,558 $85,994 $87,861 $75,767 $2,589,903 8.8x 100,604 $0.35 $0.50 $0.20 $2,781,388 9.3x 100,468 $0.50 $0.50 $0.20 $2,750,397 8.0x 100,727 $0.57 $0.57 $0.20 $2,928,500 8.3x 100,370 $0.60 $0.60 $0.20 $2,562,888 8.5x 100,637 $0.56 $0.56 $0.15 Company Highlights 1Q 2018 13 1Q 2018 4Q 20173Q 20172Q 20171Q 2017

EBITDAre – Quarterly Comparison $ in thousands (unaudited) Net Income a va ila ble to common s ha reholders $43,036 $2,582 $38,054 ($37,330) $19,879 Add: Noncontrolling interes t in Opera ting Pa rtners hip Noncontrolling interes t in cons olida ted joint ventures Redeema ble noncontrolling interes t Interes t expens e Income ta x expens e Deprecia tion a nd a mortiza tion 4,883 (30) 2,799 20,075 30 41,297 299 (153) 2,683 22,490 - 47,401 4,413 (447) 2,683 25,634 113 52,375 (4,296) (181) 2,682 24,943 88 57,762 2,295 (237) 792 20,321 21 47,631 De duct: Rea lized (ga ins ) los s es a nd unrea lized los s es on dis pos ition of renta l property, net (Ga in)/los s on s a le of inves tment in uncons olida ted joint ventures Equity in (ea rnings ) los s of uncons olida ted joint ventures (58,186) - (1,572) (4,476) - 1,199 (31,336) (10,568) 1,533 38,954 - 3,298 (5,506) (12,563) 51 Add: Compa ny's s ha re of property NOI's in uncons olida ted joint ventures 11,059 9,962 8,563 6,035 6,604 EBITDAre Add: Los s from extinguis hment of debt, net Severa nce/Sepa ra tion cos ts on ma na gement res tructuring $63,391 $81,987 $91,017 $91,955 $79,288 10,289 5,052 - - - - - - 239 - Adjusted EBITDAre $78,732 $81,987 $91,017 $91,955 $79,527 Company Highlights 1Q 2018 14 1Q 2018 4Q 2017 3Q 2017 2Q 2017 1Q 2017

Income Statement – Quarterly Year-over-Year Comparison $ in thousands REVENUES Ba s e rents Es ca la tion a nd recoveries from tena nts Rea l es ta te s ervices Pa rking income Other income Total revenues EXPENSES Rea l es ta te ta xes Utilities Opera ting s ervices Rea l es ta te s ervice expens es Genera l a nd a dminis tra tive Acquis ition-rela ted cos ts Deprecia tion a nd a mortiza tion Total expenses Operating Income OTHER (EXPENSE) INCOME Interes t expens e Interes t a nd other inves tment income (los s ) Equity in ea rnings (los s ) of uncons olida ted joint ventures Ga in on cha nge of control of interes ts Rea lized ga ins (los s es ) a nd unrea lized los s es on dis pos ition Ga in on s a le of inves tment in uncons olida ted joint venture Ga in (los s ) from ea rly extinguis hment of debt, net Total other income (expense) Net income (loss) Noncontrolling interes t in cons olida ted joint ventures Noncontrolling interes t in Opera ting Pa rtners hip Redeema ble noncontrolling interes t Net income (loss) available to common shareholders Basic earnings per common share: Net income (los s ) a va ila ble to common s ha reholders Diluted earnings per common share: Net income (los s ) a va ila ble to common s ha reholders Ba s ic weighted a vera ge s ha res outs ta nding Diluted weighted a vera ge s ha res outs ta nding $112,902 12,791 4,661 5,327 3,286 $121,255 15,119 6,465 4,229 2,819 $138,967 $149,887 $18,361 12,504 25,618 4,936 16,085 - 41,297 $21,092 11,414 27,091 6,270 11,592 - 47,631 $118,801 $125,090 $20,166 $24,797 ($20,075) 1,128 1,572 - 58,186 - (10,289) ($20,321) 474 (51) - 5,506 12,563 (239) $30,522 ($2,068) $50,688 $30 (4,883) (2,799) $22,729 $237 (2,295) (792) $43,036 $19,879 $0.45 $0.11 $0.45 90,263 100,604 $0.11 89,955 100,637 Company Highlights 1Q 2018 15 1Q 2018 1Q 2017

FFO, Core FFO & AFFO – Quarterly Year-over-Year Comparison $ in thousands except per share amounts and ratios (unaudited) Net income a va ila ble to common s ha reholders Add (deduct): Noncontrolling interes t in Opera ting Pa rtners hip Rea l es ta te-rela ted deprecia tion a nd a mortiza tion on continuing opera tions (1 ) Ga in on s a le of inves tment in uncons olida ted joint venture Rea lized ga ins a nd unrea lized los s es on dis pos ition of renta l property, net Funds from operations (2 ) Add/De duct: $43,036 4,883 45,602 - (58,186) $19,879 2,295 51,757 (12,563) (5,506) $35,335 $55,862 Los s from extinguis hment of debt, net Severa nce/s epa ra tion cos ts on ma na gement res tructuring Core FFO Add (De duct) Non-Ca s h Ite ms : $10,289 5,052 $239 - $50,676 $56,101 Stra ight-line rent a djus tments (3 ) Amortiza tion of ma rket lea s e inta ngibles , net (4 ) Amortiza tion of lea s e inducements Amortiza tion of s tock compens a tion Non rea l es ta te deprecia tion a nd a mortiza tion Amortiza tion of debt dis count/(premium) a nd ma rk-to-ma rket, net Amortiza tion of deferred fina ncing cos ts De duct: ($2,742) (2,130) 294 2,657 511 (237) 1,096 ($3,013) (1,577) 278 1,168 377 241 1,103 Non-incrementa l revenue genera ting ca pita l expenditures : Building improvements Tena nt improvements a nd lea s ing commis s ions (5 ) Tena nt improvements a nd lea s ing commis s ions on s pa ce va ca nt for more tha n one yea r Adjusted FFO (2 ) Core FFO (calculated above) De duct: (1,666) (4,468) (7,695) (4,969) (3,965) (7,160) $36,296 $38,584 $50,676 $56,101 Equity in ea rnings (los s ) of uncons olida ted joint ventures , net Equity in ea rnings s ha re of deprecia tion a nd a mortiza tion Add-ba ck: ($1,572) (4,815) $51 (4,503) Interes t expens e Recurring JV dis tributions (6 ) Income (los s ) in non-controlling interes t in cons olida ted joint ventures Redeema ble noncontrolling interes t Adjusted EBITDA Net debt a t period end (7 ) Net debt to Adjus ted EBITDA (8 ) Diluted weighted a vera ge s ha res /units outs ta nding (9 ) Funds from opera tions per s ha re-diluted Core Funds from Opera tions per s ha re/unit-diluted Dividends decla red per common s ha re Notes: See footnotes and “Information About FFO, Core FFO, & AFFO” on page 17. 20,075 6,690 (30) 2,799 20,321 3,242 (237) 792 $73,823 $75,767 $2,589,903 8.8x 100,604 $0.35 $0.50 $0.20 $2,562,888 8.5x 100,637 $0.56 $0.56 $0.15 Company Highlights 1Q 2018 16 1Q 2018 1Q 2017

FFO, Core FFO & AFFO (Notes) Notes (1) Includes the Company’s share from unconsolidated joint ventures, and adjustments for noncontrolling interest, of $4,815 and $4,503 for the three months ended March 31, 2018 and 2017, respectively. Excludes non-real estate-related depreciation and amortization of $511 and $377 for the three months ended March 31, 2018 and 2017, respectively. (2) 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. (3) Includes free rent of $6,375 and $6,653 for the three months ended March 31, 2018 and 2017, respectively. Also includes the Company's share from unconsolidated joint ventures of ($438) and ($12) for the three months ended March 31, 2018 and 2017, respectively. (4) Includes the Company's share from unconsolidated joint ventures of $80 and $95 for the three months ended March 31, 2018 and 2017, respectively. (5) Excludes expenditures for tenant spaces in properties that have not been owned by the Company for at least a year. (6) Q1 2018 Includes $2.6 million of the Company’s share of its first annual sale of an economic tax credit certificate associated with the Urby joint venture from the State of New Jersey to a third party. (7) 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. (8) Equals Net Debt at period end divided by Adjusted EBITDA (for quarter periods, Adjusted EBITDA annualized multiplying quarter amounts by 4). Without annualizing the proceeds from the Urby tax credit, the net debt to EBITDA ratio is 9.0x. (9) Calculated based on weighted average common shares outstanding, assuming redemption of Operating Partnership common units into common shares (10,242 and 10,384 shares for the three months ended March 31, 2018 and 2017, respectively). Information About FFO, Core FFO and AFFO 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 EBITDAre EBITDAre is a non-GAAP financial measure. The Company computes EBITDAre in accordance with standards established by the National Association of Real Estate Investment Trusts, or NAREIT, which may not be comparable to EBITDAre reported by other REITs that do not compute EBITDAre in accordance with the NAREIT definition, or that interpret the NAREIT definition differently than the Company does. The White Paper on EBITDAre approved by the Board of Governors of NAREIT in September 2017 defines EBITDAre as net income (loss) (computed in accordance with Generally Accepted Accounting Principles, or GAAP), plus interest expense, plus income tax expense, plus depreciation and amortization, plus (minus) losses and gains on the disposition of depreciated property, plus impairment write-downs of depreciated property and investments in unconsolidated joint ventures, plus adjustments to reflect the entity's share of EBITDAre of unconsolidated joint ventures. The Company presents EBITDAre, because the Company believes that EBITDAre, along with cash flow from operating activities, investing activities and financing activities, provides investors with an additional indicator of the Company’s ability to incur and service debt. EBITDAre should not be considered as an alternative to net income (determined in accordance with GAAP), as an indication of the Company’s financial performance, as an alternative to net cash flows from operating activities (determined in accordance with GAAP), or as a measure of the Company’s liquidity. Company Highlights 1Q 2018 17

Debt Summary & Maturity Schedule $ in thousands Debt Breakdown Fixed Rate Debt $1,250,000 916,431 $2,166,431 47.52% 34.84% 82.35% 3.70% 3.62% 3.67% 2.79 6.90 4.53 Fixed Ra te Uns ecured Debt a nd Other Obliga tions (1) Fixed Ra te Secured Debt Subtotal: Fixed Rate Debt Variable Rate Debt Va ria ble Ra te Secured Debt Va ria ble Ra te Uns ecured Debt (2) Subtotal: Variable Rate Debt $273,183 $191,000 $464,183 10.38% 7.26% 17.65% 4.56% 3.05% 3.94% 1.47 2.82 2.03 Totals/Weighted Average Adjus tment for Una mortized Debt Dis count Una mortized Deferred Fina ncing Cos ts Total Debt, net $2,630,614 (3,338) (12,065) $2,615,211 100.00% 3.71% ( 3 ) 4.09 Unconsolidated Secured Debt CLI Sha re Pa rtners ’ Sha re Total Unconsolidated Secured Debt $395,841 523,436 $919,277 43.06% 56.94% 100.00% 4.16% 4.16% 4.16% 7.34 7.34 7.34 Maturity Schedule Period 2018 2019 2020 2021 2022 2023 Therea fter Subtotal Adjus tment for una mortized debt dis count/premium Una mortized ma rk-to-ma rket Una mortized deferred fina ncing cos ts Totals/Weighted Average $0 621,666 325,000 359,800 300,000 333,998 663,929 $2,604,393 $1,050 532 2,903 3,227 3,284 3,412 7,230 $21,638 (3,338) 4,583 (12,065) $10,818 1,050 622,198 327,903 363,027 303,284 337,410 671,159 2,626,031 (3,338) 4,583 (12,065) $2,615,211 3.54% 3.84% 3.46% 3.12% 4.60% 3.53% 3.73% 3.71% - - - ( 3 ) $2,604,393 3.71% Notes: See supporting “Debt Summary & Maturity Schedule” notes on page 43 Company Highlights 1Q 2018 19 Principal Scheduled Total Future Weighted Average Maturities Amortization Repayments Interest Rate ( 1 ) % Weighted Average Weighted Average Balance of Total Interest Rate ( 1 ) Maturity in Years

Debt Profile OFFICE PORTFOLIO Se cure d De bt $ in thousands Lender 23 Ma in Street Ha rbors ide Pla za 5 One River Center 101 Huds on Short Hills Portfolio Principa l ba la nce outs ta nding Una mortized deferred fina ncing cos ts Total Secured Debt - Office Portfolio Se nior Uns e cure d Note s : (1)(2) Berka dia CMBS Northwes tern Mutua l Life Gua rdia n Life Ins . Co. Wells Fa rgo CMBS Wells Fa rgo CMBS 5.59% 6.84% 7.31% 3.20% 4.15% - - - 27,090 209,257 40,485 250,000 124,500 651,332 (2,941) $648,391 09/01/18 11/01/18 02/01/19 10/11/26 04/01/27 250,000 124,500 374,500 (2,746) $371,754 4.500%, Senior Uns ecured Notes 3.150%, Senior Uns ecured Notes Principa l ba la nce outs ta nding Adjus tment for una mortized debt dis count Una mortized deferred fina ncing cos ts Total Senior Unsecured Notes, net: Uns e cure d Te rm Loa ns : public debt public debt 4.61% 3.52% 300,000 275,000 575,000 (3,338) (2,224) $569,438 300,000 275,000 575,000 (3,505) (2,350) $569,145 04/18/22 05/15/23 2016 Uns ecured Term Loa n 2017 Uns ecured Term Loa n Revolving Credit Fa cilities Una mortized deferred fina ncing cos ts Total Revolving Credit Facilities & Unsecured Term Loans: Total Debt - Office Portfolio RESIDENTIAL PORTFOLIO Se cure d Cons truction Loa ns (Mortga ge s ) 7 Lenders 13 Lenders 13 Lenders 3.28% 3.46% LIBOR +1.30% $350,000 325,000 191,000 (2,262) $863,738 $1,804,930 $350,000 325,000 150,000 (2,712) $822,288 $2,039,824 01/07/19 01/25/20 01/25/21 Port Imperia l 4/5 Hotel 250 Johns on Ports ide 5/6 Port Imperia l South 11 Worces ter Total Secured Construction Debt Se cure d Pe rma ne nt Loa ns (Mortga ge s ) Fifth Third Ba nk & Sa nta nder M&T Ba nk Citizens Ba nk JPMorga n Cha s e Citizens Ba nk LIBOR+4.50% LIBOR+2.35% LIBOR+2.50% LIBOR+2.35% LIBOR+2.50% $50,958 37,028 56,541 54,341 48,099 $246,967 $43,674 32,491 45,778 46,113 37,821 $205,877 10/06/19 05/20/19 09/19/19 11/24/19 12/10/19 Pa rk Squa re Mona co Port Imperia l South 4/5 Reta il Ports ide 7 Alterra I & II The Cha s e a t Overlook Ridge (Combined) 150 Ma in Street Port Imperia l South 4/5 Ga ra ge Principa l ba la nce outs ta nding Una mortized deferred fina ncing cos ts Total Secured Permanent Debt Total Debt - Residential Portfolio Total Debt: Notes: See supporting “Debt Profile” notes on page 43 Wells Fa rgo Ba nk N.A. The Northwes tern Mutua l Life America n Genera l Life & A/G PC CBRE Ca pita l Ma rkets /FreddieMa c Ca pita l One/FreddieMa c New York Community Ba nk Na tixis Rea l Es ta te Ca pita l LLC America n Genera l Life & A/G PC LIBOR+1.872% 3.15% 4.56% 3.57% 3.85% 3.74% 4.48% 4.85% $26,217 169,582 4,000 58,998 100,000 135,750 41,000 32,600 568,147 (4,833) $563,314 $810,281 $2,615,211 $26,567 169,987 4,000 58,998 100,000 135,750 41,000 32,600 568,902 (5,035) $563,867 $769,744 $2,809,568 04/10/19 02/01/21 12/01/21 08/01/23 02/01/24 01/01/25 08/05/27 12/01/29 Company Highlights 1Q 2018 20 Effective March 31, December 31, Date of Interest Rate 2018 2017 Maturity

2018/2019 Debt Maturities $ in thousands Secured Debt Consolidated Debt Re s ide ntia l Pa rk Squa re 250 Johns on Ports ide 5/6 Port Imperia l 4/5 Hotel (1 ) Port Imperia l South 11 Worces ter Total Consolidated Residential Perma nent Loa n Cons truction Loa n Cons truction Loa n Cons truction Loa n Cons truction Loa n Cons truction Loa n $26,217 37,028 56,541 50,958 54,341 48,099 $273,184 N/A $42,000 $73,000 $94,000 $78,000 $58,000 4/10/2019 5/20/2019 9/29/2019 10/6/2019 11/24/2019 12/10/2019 - One 1-yea r option Two 1-yea r options Two 1-yea r options Two 1-yea r options Two 1-yea r options 70.84% 54.60% 50.00% 47.10% 45.80% 50.00% 51.25% Total Consolidated Secured $273,184 51.25% Unconsolidated Debt Shops a t 40 Pa rk M2 Total Unconsolidated Secured Perma nent Loa n Cons truction Loa n $6,140 74,690 $80,830 - - 8/13/2018 3/30/2019 - Exercis ed firs t of four 3-month extens ion options 41.22% 37.26% 37.56% Total Secured Debt $354,014 48.12% Unsecured Debt 2016 Uns ecured Term Loa n Total Unsecured $350,000 $350,000 - 1/7/2019 Two 1-yea r options - Notes: (1) On March 27, 2018 The Company reached an agreement to extend the initial maturity by 1 year to October 6, 2019. Company Highlights 1Q 2018 21 Balance at Maximum Date of Extension Option/ Type 1Q 2018 Loan Balance Maturity Prepayment LTV

Unconsolidated Joint Ventures $ in thousands Ope ra ting Prope rtie s Ma rbella M2 Metropolita n & Shops a t 40 Pa rk RiverTra ce a t Port Imperia l Crys ta l Hous e Riverpa rk a t Ha rris on Sta tion Hous e Urby Hya tt Regency Jers ey City Red Ba nk Corpora te Pla za 12 Vreela nd Offices a t Crys ta l La ke Riverwa lk Reta il Total Operating Res identia l Res identia l Res identia l Res identia l Res identia l Res identia l Res identia l Res identia l Hotel Office Office Office Reta il 412 311 130 316 825 141 378 762 350 92,878 139,750 106,345 30,745 96.8% 96.5% 98.5% 97.5% 93.5% 97.2% 97.9% 97.8% 24.3% 24.3% 12.5% 22.5% 25.0% 45.0% 50.0% 85.0% 50.0% 50.0% 50.0% 31.3% 20.0% 43.1% $2,570 2,071 1,051 1,801 3,149 404 2,014 6,666 1,031 189 306 251 111 $21,614 $95,000 74,690 54,962 82,000 165,000 30,000 99,685 190,495 100,000 13,726 9,101 4,618 - $1,767 1,299 572 1,143 1,841 127 813 4,191 114 21 241 196 111 $12,435 $624 503 131 405 787 182 1,007 5,666 516 95 153 78 22 $10,169 $23,057 18,127 6,870 18,450 41,250 13,500 49,843 161,921 50,000 6,863 4,551 1,443 - $429 315 71 257 460 57 406 3,562 57 11 120 61 22 $5,830 $367 329 21 254 451 54 388 3,523 764 10 119 67 (3) $6,344 $919,277 $395,875 Other Uncons olida ted JVs Total Unconsolidated JVs (2 ) 50.0% 43.6% $1,780 $23,394 - - 890 $11,059 - - $127 $6,471 $919,277 $12,435 $395,875 $5,830 Notes: See supporting “Unconsolidated Joint Ventures” notes on page 43 Company Highlights 1Q 2018 22 Property Leased CLI's Nominal 1Q 2018 Total NOI After CLI Share CLI Share CLI NOI After CLI 1Q Property Type Units/SF Occupancy Ownership (1 ) Total NOI Debt Debt Service of NOI of Debt Debt Service 2018 FFO

Pro Rata NOI Contributions $ in thousands except per SF/Unit SF/Units 1Q 2018 Q1 2017 1Q 2018 Q1 2017 Office Wa terfront (1 ) Cla s s A Suburba n Suburba n (1 ) Flex Pa rks Corpora te Subtotal: Office 4,884,193 1,951,091 4,203,366 3,526,612 $28,157 10,647 17,744 9,828 1,348 $67,724 28.9% 10.9% 18.2% 10.1% 1.4% 69.6% $32,600 7,368 29,143 12,431 (551) $80,991 31.5% 7.1% 28.1% 12.0% (0.5%) 78.2% $27,642 10,647 17,324 9,828 1,348 $66,789 32.1% 12.4% 20.1% 11.4% 1.6% 77.5% $31,331 7,368 28,508 12,431 (551) $79,087 34.7% 8.2% 31.6% 13.8% (0.6%) 87.6% 14,565,262 Residential Jers ey City Ma s s a chus etts Port Imperia l (1 ) Other Subtotal: Residential 2,008 1,561 316 1,941 5,826 $12,588 6,183 3,010 7,840 $29,621 12.9% 6.4% 3.1% 8.1% 30.4% $8,360 5,077 3,158 5,955 $22,550 8.1% 4.9% 3.0% 5.8% 21.8% $8,499 6,183 1,303 3,385 $19,370 9.9% 7.2% 1.5% 3.9% 22.5% $2,200 5,077 1,330 2,559 $11,166 2.4% 5.6% 1.5% 2.8% 12.4% Total Net Operating Income $97,345 100.0% $103,541 100.0% $86,159 100.0% $90,253 100.0% Notes: (1) Waterfront Portfolio includes income from the Hyatt; Suburban Portfolio includes Redbank, 12 Vreeland, and Crystal Lake unconsolidated JVs; Port Imperial Portfolio includes 12,551 SF of retail and 1,586 of garage spaces. Company Highlights 1Q 2018 24 NOI At CLI Share 100% NOI

Property Listing 101 Huds on Ha rbors ide 1 Ha rbors ide 2 & 3 Ha rbors ide 4a Ha rbors ide 5 111 River Street Total Waterfront Jers ey City, NJ Jers ey City, NJ Jers ey City, NJ Jers ey City, NJ Jers ey City, NJ Hoboken, NJ 1,246,283 399,578 1,487,222 207,670 977,225 566,215 4,884,193 1,244,550 197,276 1,126,402 198,644 679,492 500,123 3,946,487 99.9% 49.4% 75.7% 95.7% 69.5% 88.3% 80.8% $35.66 47.46 37.79 35.89 40.96 38.41 $38.13 1 Gira lda Fa rms 7 Gira lda Fa rms 4 Ga teha ll Drive 9 Ca mpus Drive 325 Columbia Turnpike 100 Schultz Drive 200 Schultz Drive 201 Littleton Roa d 3600 Route 66 4 Ca mpus Drive 6 Ca mpus Drive 1 Sylva n Wa y 5 Sylva n Wa y 7 Sylva n Wa y 7 Ca mpus Drive 2 Hilton Court 8 Ca mpus Drive 2 Dryden Wa y 600 Horizon Drive 100 Overlook Center 5 Va ughn Drive One River Center 1 One River Center 2 One River Center 3 & 4 23 Ma in Street 5 Wood Hollow Roa d Total Suburban Total Core Office Portfolio Flex Pa rk Portfolio Total Core Portfolio (1 ) Ma dis on, NJ Ma dis on, NJ Pa rs ippa ny, NJ Pa rs ippa ny, NJ Florha m Pa rk, NJ Red Ba nk, NJ Red Ba nk, NJ Morris Pla ins , NJ Neptune, NJ Pa rs ippa ny, NJ Pa rs ippa ny, NJ Pa rs ippa ny, NJ Pa rs ippa ny, NJ Pa rs ippa ny, NJ Pa rs ippa ny, NJ Pa rs ippa ny, NJ Pa rs ippa ny, NJ Pa rs ippa ny, NJ Ha milton, NJ Princeton, NJ Princeton, NJ Middletown, NJ Middletown, NJ Middletown, NJ Holmdel, NJ Pa rs ippa ny, NJ 154,417 236,674 248,480 156,495 168,144 100,000 102,018 88,369 180,000 147,475 148,291 150,557 151,383 145,983 154,395 181,592 215,265 6,216 95,000 149,600 98,500 122,594 120,360 214,518 350,000 317,040 4,203,366 11,038,650 3,526,612 14,565,262 154,417 148,180 195,480 131,701 167,044 57,364 66,728 38,572 180,000 120,745 120,317 122,938 142,588 103,289 128,796 181,592 163,020 6,216 95,000 75,226 44,055 116,982 120,360 119,621 350,000 317,040 3,467,271 9,172,208 3,232,761 12,404,969 100.0% 62.6% 78.7% 84.2% 99.3% 57.4% 65.4% 43.6% 100.0% 81.9% 81.1% 81.7% 94.2% 70.8% 83.4% 100.0% 75.7% 100.0% 100.0% 50.3% 44.7% 95.4% 100.0% 55.8% 100.0% 100.0% 82.5% 83.1% 91.7% 85.2% $39.99 35.91 27.07 20.90 26.52 28.73 26.85 20.39 24.92 24.59 26.39 32.48 29.61 28.70 25.97 40.71 30.59 17.84 24.23 32.35 29.86 27.91 26.38 28.15 17.51 25.69 $27.68 $33.93 $18.46 $29.90 1 Bridge Pla za 2115 Linwood Avenue 101 Wood Avenue S 581 Ma in Street 333 Thorna ll Street 343 Thorna ll Street 150 JFK Pa rkwa y 51 JFK Pa rkwa y 101 JFK Pa rkwa y 103 JFK Pa rkwa y Total Class A Suburban Fort Lee, NJ Fort Lee, NJ Is elin, NJ Woodbridge, NJ Edis on, NJ Edis on, NJ Short Hills , NJ Short Hills , NJ Short Hills , NJ Short Hills , NJ 200,000 68,000 262,841 200,000 196,128 195,709 247,476 260,741 197,196 123,000 1,951,091 171,442 59,410 262,841 99,052 192,461 190,790 209,848 255,495 194,111 123,000 1,758,450 85.7% 87.4% 100.0% 49.5% 98.1% 97.5% 84.8% 98.0% 98.4% 100.0% 90.1% $28.93 25.04 32.34 28.69 34.92 33.46 35.46 51.88 40.80 42.46 $36.81 Notes: See supporting “Property Listing” notes on page 44 Office Portfolio 1Q 2018 26 Class A Suburban Avg. Base Rent Building Location Total SF Leased SF % Leased + Escalations (4 ) Suburban Avg. Base Rent Building Location Total SF Leased SF % Leased + Escalations (2 ) Waterfront Avg. Base Rent Building Location Total SF Leased SF % Leased + Escalations (4 )

2018 Expirations by Building Asking rents on vacant space are on average 19.3% higher than expiring rents Wa terfront Va ca ncies 937,706 19.2% Cla s s A Va ca ncies Expiring SF by Quarter 192,641 9.9% Suburba n Va ca ncies 736,095 17.5% Flex Park Portfolio Flex Pa rk Va ca ncies 3,526,612 293,851 182,378 8.3% 5.2% $17.65 $19.67 Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Tota l Core Portfolio 434,059 44,566 106,203 71,708 656,536 110,091 4,097 34,758 67,323 216,269 31,243 23,312 44,922 43,347 142,824 575,393 71,975 185,883 182,378 Total Core Portfolio Tota l Core Va ca ncies 14,565,262 2,160,293 1,015,629 14.8% 7.0% $31.78 $37.90 1,015,629 Office Portfolio 1Q 2018 27 2Q 20183Q 20184Q 2018Remaining 2018 Class A Suburban 2018 Expirations Current Building Location Total SF SF % Total In-Place Rent Asking Rent 1 Bridge Pla za Fort Lee, NJ 200,000 38,693 19.3% $29.26 2115 Linwood Avenue Fort Lee, NJ 68,000 9,700 14.3% 26.53 101 Wood Avenue S Is elin, NJ 262,841 0 0.0% 0.00 581 Ma in Street Woodbridge, NJ 200,000 0 0.0% 0.00 333 Thorna ll Street Edis on, NJ 196,128 10,335 5.3% 34.43 343 Thorna ll Street Edis on, NJ 195,709 7,713 3.9% 30.00 150 JFK Pa rkwa y Short Hills , NJ 247,476 2,753 1.1% 34.81 51 JFK Pa rkwa y Short Hills , NJ 260,741 2,781 1.1% 54.69 101 JFK Pa rkwa y Short Hills , NJ 197,196 0 0.0% 0.00 103 JFK Pa rkwa y Short Hills , NJ 123,000 0 0.0% 0.00 Total Class A Suburban 1,951,091 71,975 3.7% $30.91 $30.00 26.50 35.00 35.00 35.00 35.00 42.00 55.00 42.00 42.00 $32.21 Suburban 2018 Expirations Current Building Location Total SF SF % Total In-Place Rent Asking Rent 1 Gira lda Fa rms Ma dis on, NJ 154,417 0 0.0% 0.00 7 Gira lda Fa rms Ma dis on, NJ 236,674 0 0.0% 0.00 4 Ga teha ll Drive Pa rs ippa ny, NJ 248,480 20,574 8.3% $27.01 9 Ca mpus Drive Pa rs ippa ny, NJ 156,495 5,071 3.2% 15.86 325 Columbia Turnpike Florha m Pa rk, NJ 168,144 2,820 1.7% 26.92 100 Schultz Drive Red Ba nk, NJ 100,000 57,364 57.4% 28.73 200 Schultz Drive Red Ba nk, NJ 102,018 14,604 14.3% 29.42 201 Littleton Roa d Morris Pla ins , NJ 88,369 5,452 6.2% 20.45 3600 Route 66 Neptune, NJ 180,000 0 0.0% 0.00 4 Ca mpus Drive Pa rs ippa ny, NJ 147,475 5,390 3.7% 25.78 6 Ca mpus Drive Pa rs ippa ny, NJ 148,291 17,977 12.1% 26.15 One Sylva n Wa y Pa rs ippa ny, NJ 150,557 0 0.0% 0.00 Five Sylva n Wa y Pa rs ippa ny, NJ 151,383 10,044 6.6% 32.05 Seven Sylva n Wa y Pa rs ippa ny, NJ 145,983 0 0.0% 0.00 Seven Ca mpus Drive Pa rs ippa ny, NJ 154,395 800 0.5% 22.97 Two Hilton Court Pa rs ippa ny, NJ 181,592 0 0.0% 0.00 Eight Ca mpus Drive Pa rs ippa ny, NJ 215,265 16,234 7.5% 32.96 2 Dryden Wa y Pa rs ippa ny, NJ 6,216 0 0.0% 0.00 600 Horizon Drive Robbins ville, NJ 95,000 0 0.0% 0.00 100 Overlook Center Princeton, NJ 149,600 0 0.0% 0.00 5 Va ughn Drive Princeton, NJ 98,500 1,918 1.9% 30.43 One River Center 1 Red Ba nk, NJ 122,594 0 0.0% 0.00 One River Center 2 Red Ba nk, NJ 120,360 27,635 23.0% 27.09 One River Center 3 & 4 Red Ba nk, NJ 214,518 0 0.0% 0.00 23 Ma in Street Holmdel, NJ 350,000 0 0.0% 0.00 5 Wood Hollow Roa d Pa rs ippa ny, NJ 317,040 0 0.0% 0.00 Total Suburban 4,203,366 185,883 4.4% $27.94 $34.00 34.00 28.00 25.50 29.50 30.00 29.50 20.00 24.00 25.50 25.50 32.00 32.00 32.00 25.50 28.00 32.00 14.00 15.00 29.00 31.00 29.50 29.50 29.50 13.00 25.50 $28.95 Waterfront 2018 Expirations Current Building Location Total SF SF % Total In-Place Rent Asking Rent 101 Huds on Jers ey City, NJ 1,246,283 311,740 25.0% $33.11 Ha rbors ide 1 Jers ey City, NJ 399,578 0 0.0% 0.00 Ha rbors ide 2 & 3 Jers ey City, NJ 1,487,222 6,698 0.5% 42.49 Ha rbors ide 4a Jers ey City, NJ 207,670 0 0.0% 0.00 Ha rbors ide 5 Jers ey City, NJ 977,225 148,280 15.2% 46.82 111 River Street Hoboken, NJ 566,215 108,675 19.2% 37.65 Total Waterfront 4,884,193 575,393 11.8% $37.61 $46.00 43.00 41.00 43.00 49.00 49.00 $47.28

Leasing Activity Percentage Leased Summary Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotals Non-Core TOTALS Summary of Leasing Transaction Activity For the three months ended March 31, 2018 Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotals Repos itioning Non-Core TOTALS 1 6 3 18 36,336 66,606 17,329 92,292 - 12,097 14,494 19,405 36,336 54,509 2,835 72,887 36,336 11,101 5,776 5,127 5.0 3.8 3.7 4.0 $49.38 32.05 29.82 19.71 $2.63 3.95 1.58 2.06 28 - 13 212,563 - 53,322 45,996 - 9,208 166,567 - 44,114 7,592 - 4,102 4.1 - 4.1 $29.47 - 23.79 $2.76 - 5.54 41 265,885 55,204 210,681 6,485 4.1 $28.33 $3.34 Office Portfolio 1Q 2018 28 Number of Total Sq. Ft. Sq. Ft. Renewed Average Weighted Avg. Wtd. Avg. Wtd. Avg. Costs Transactions Sq. Ft. New Leases and Other Retained Sq. Ft. Term (Yrs) Base Rent ($) Sq. Ft. Per Year ($) Pct. Leased Impact of Impact of Pct. Leased Sq. Ft. Leased Sq. Ft. Leased Sq. Ft. 12/31/2017 Acquisition/Disposition Leasing Activity 3/31/2018 Commercial Service Unleased 86.2% 0.0% (5.4%) 90.1% 0.0% 0.0% 84.8% 0.0% (2.3%) 91.5% 0.0% 0.2% 87.6% 0.0% (2.4%) 73.7% 0.0% (11.1%) 85.6% 0.0% (1.6%) 80.8% 90.1% 82.5% 91.7% 85.2% 62.6% 83.9% 3,812,221 134,266 937,706 1,744,514 13,936 192,641 3,298,934 168,337 736,095 3,204,952 27,809 293,851 12,504,047 344,348 2,160,293 503,915 23,389 314,782 14,297,747 367,737 2,475,075

Leasing Rollforwards Rollforwards For the three months ended March 31, 2018 Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotals Repos itioning(1 ) Non-Core TOTALS 86.2% 90.1% 84.8% 91.5% 87.6% 4,884,193 1,951,091 4,323,366 3,491,612 14,650,262 4,211,020 1,758,094 3,665,423 3,195,006 12,829,543 - - - - - - - - - - (120,000) 35,000 - - (120,000) 35,000 (300,869) (66,250) (95,481) (89,537) (552,137) 36,336 66,606 17,329 92,292 212,563 (264,533) 356 (78,152) 2,755 (339,574) 4,884,193 1,951,091 4,203,366 3,526,612 14,565,262 3,946,487 1,758,450 3,467,271 3,232,761 12,404,969 80.8% 90.1% 82.5% 91.7% 85.2% - - (85,000) (85,000) 0.0% 73.7% 85.6% - 2,460,040 17,110,302 - 1,812,836 14,642,379 - - - - - (1,617,954) - (1,216,948) - (121,906) (674,043) - 53,322 265,885 - (68,584) (408,158) - 842,086 15,407,348 - 527,304 12,932,273 - 62.6% 83.9% - - (1,702,954) (1,301,948) Notes: (1) Total square footage of transactions signed at properties being held for repositioning. Square footage not included in inventory, space leased or net leasing activity. Office Portfolio 1Q 2018 29 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 12/31/17 12/31/17 12/31/17 Reclassed Reclassed Disposed Disposed Adj. Sq. Ft. Sq. Ft. Activity 03/31/18 03/31/18 03/31/18

Top 15 Tenants John Wiley & Sons , Inc. Ba nk Of Tokyo-Mits ubis hi UFJ, Ltd. Na tiona l Union Fire Ins ura nce Compa ny of Pitts burgh, PA Merrill Lynch Pierce Fenner Dun & Bra ds treet Corpora tion Montefiore Medica l Center Da iichi Sa nkyo, Inc. TD Ameritra de Services Compa ny, Inc. DB Services New Jers ey, Inc. KPMG, LLP HQ Globa l Workpla ces , LLC ICAP Securities USA, LLC Vona ge America , Inc. Inves tors Ba nk Pfizer, Inc. Totals 1 1 2 3 2 7 1 1 1 2 8 2 1 2 1 13,252,221 11,465,968 11,191,058 10,936,585 7,412,320 7,307,604 6,640,664 6,632,175 6,295,800 5,036,557 4,705,440 4,699,088 4,637,500 4,383,791 4,306,008 3.8% 3.3% 3.2% 3.1% 2.1% 2.1% 1.9% 1.9% 1.8% 1.5% 1.4% 1.3% 1.3% 1.3% 1.2% 352,966 282,606 388,651 430,926 192,280 296,572 171,900 193,873 125,916 120,947 164,811 111,562 350,000 139,296 113,316 2.8% 2.2% 3.0% 3.4% 1.5% 2.3% 1.4% 1.5% 1.0% 1.0% 1.3% 0.9% 2.8% 1.1% 0.9% (2) (3) (4) (5) 2023 (6) 2022 2020 2019 (7) (8) (9) 2023 (10) 2024 108,902,779 31.2% 3,435,622 27.1% Notes: See supporting “Top 15 Tenants” notes on page 44 Office Portfolio 1Q 2018 30 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

Lease Expirations Year of Expiration/Market 2018 Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotal Non-Core TOTAL – 2018 2019 Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotal Non-Core TOTAL – 2019 2020 Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotal Non-Core TOTAL – 2020 2021 Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotal Non-Core TOTAL – 2021 2022 Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotal Non-Core TOTAL – 2022 Notes: 15 13 24 31 83 17 100 575,393 71,975 185,883 182,378 1,015,629 96,905 1,112,534 4.5 0.6 1.5 1.4 8.0 0.8 8.8 20,520,840 2,139,354 4,853,013 3,141,352 30,654,559 2,410,574 33,065,133 35.66 29.72 26.11 17.22 30.18 24.88 29.72 5.9 0.6 1.4 0.9 8.8 0.7 9.5 13 29 31 56 129 8 137 218,621 276,611 398,073 501,843 1,395,148 52,243 1,447,391 1.7 2.2 3.1 4.0 11.0 0.4 11.4 9,962,864 8,556,982 11,015,017 9,772,872 39,307,735 1,455,247 40,762,982 45.57 30.94 27.67 19.47 28.17 27.86 28.16 2.8 2.5 3.2 2.8 11.3 0.4 11.7 8 25 27 43 103 14 117 70,779 226,832 249,594 314,592 861,797 41,416 903,213 0.6 1.8 2.0 2.5 6.9 0.3 7.2 2,597,918 7,801,508 6,309,404 5,693,585 22,402,415 1,069,016 23,471,431 36.70 34.39 25.28 18.10 26.00 25.81 25.99 0.8 2.2 1.8 1.6 6.4 0.3 6.7 15 12 21 35 83 9 92 366,455 116,802 189,589 306,822 979,668 94,800 1,074,468 2.9 0.9 1.5 2.4 7.7 0.7 8.4 12,998,657 5,110,111 5,371,614 4,817,857 28,298,239 2,418,641 30,716,880 35.47 43.75 28.33 15.70 28.89 25.51 28.59 3.7 1.5 1.5 1.4 8.1 0.7 8.8 12 12 29 37 90 8 98 253,723 145,359 257,398 302,401 958,881 53,773 1,012,654 2.0 1.1 2.0 2.4 7.5 0.4 7.9 7,918,028 4,587,359 6,819,393 5,293,357 24,618,137 1,370,893 25,989,030 31.21 31.56 26.49 17.50 25.67 25.49 25.66 2.2 1.3 2.0 1.5 7.0 0.4 7.4 See supporting “Expirations” notes on page 44 Office Portfolio 1Q 2018 31 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.) Expiring Leases (%) Expiring Leases ($) (2 ) by Expiring Leases ($) Expiring Leases (%)

Lease Expirations (Cont.) Year of Expiration/Market 2023 Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotal Repurpos ing Non-Core TOTAL – 2023 2024 AND THEREAFTER 10 15 25 32 82 1 3 86 335,943 267,007 839,622 481,452 1,924,024 35,000 9,057 1,968,081 2.7 2.1 6.6 3.8 15.2 0.3 0.1 15.6 11,504,889 9,845,070 20,346,044 6,905,407 48,601,410 0 243,969 48,845,379 34.25 36.87 24.23 14.34 25.26 0.00 26.94 24.82 3.3 2.8 5.8 2.0 13.9 0.0 0.1 14.0 Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotal Repurpos ing Non-Core TOTAL – 2024 AND THEREAFTER 50 32 51 59 192 1 15 208 1,991,307 639,928 1,178,775 1,115,464 4,925,474 70,878 155,721 5,152,073 15.7 5.1 9.3 8.8 38.9 0.5 1.3 40.7 67,283,206 23,348,852 30,783,366 20,920,531 142,335,955 0 4,031,031 146,366,986 33.79 36.49 26.11 18.76 28.90 0.00 25.89 28.41 19.3 6.7 8.8 6.0 40.8 0.0 1.1 41.9 Expirations by Type Year of Expiration/Market TOTALS BY TYPE Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotal Repurpos ing Non-Core Totals/Weighted Average 123 138 208 293 762 2 74 838 3,812,221 1,744,514 3,298,934 3,204,952 12,060,621 105,878 503,915 12,670,414 30.1 13.8 26.0 25.3 95.2 0.8 4.0 100.0 132,786,402 61,389,236 85,497,851 56,544,961 336,218,450 0 12,999,371 349,217,821 34.83 35.19 25.92 17.64 27.88 0.00 25.80 $27.56 38.0 17.6 24.5 16.2 96.3 0.0 3.7 100.0 Notes: See supporting “Expirations” notes on page 44 Office Portfolio 1Q 2018 32 Percentage of Total Average Annualized Base Net Rentable Area Leased Square Feet Annualized Base Rent Per Net Rentable Percentage of Annual Number of Subject to Expiring Represented by Rental Revenue Under Square Foot Represented Base Rent Under Leases Expiring (1) Leases (Sq. Ft.) Expiring Leases (%) Expiring Leases ($) (2) by Expiring Leases ($) Expiring Leases (%) Percentage of Total Average Annualized Base Net Rentable Area Leased Square Feet Annualized Base Rent Per Net Rentable Percentage of Annual Number of Subject to Expiring Represented by Rental Revenue Under Square Foot Represented Base Rent Under Leases Expiring (1) Leases (Sq. Ft.) Expiring Leases (%) Expiring Leases ($) (2) by Expiring Leases ($) Expiring Leases (%)

Roseland Highlights 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: 1Q 2018 NAV was approximately $1.60B, comprised of $173M of Rockpoint equity and $1.55B of MC equity ($15.40/MC share) Rockpoint has an additional $140M 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 2017: successfully stabilized 1,162 apartment deliveries in 2017 Lease-Up Communities 1Q 2018: commenced leasing activities at Signature Place (197 units) and 145 Front Street (365 units) We forecast continued growth in residential NOI after debt service from completion of our 1,944 unit/key in-construction portfolio Operating & Construction Apts. (projected) Future Development Apts. % Growth in Operating & Construction Units 7,770 10,957 - 9,806 8,921 26.2% 10,556 8,171 7.6% c Roseland Residential 1Q 2018 34 1Q 2018YE 2018YE 2019

De2ve0l1o5pm/2e0n1t 6AcAticvhitiyevanedmCeansthsF-loDweGverolowpthment $ in millions (unaudited) 2017 Lease-Ups Urby Ha rbors ide Cha s e II a t Overlook Ridge Qua rry Pla ce a t Tucka hoe Total 2017 Lease-Ups 85.00% 100.00% 100.00% 90.16% 97.8% 96.4% 99.1% 97.6% Q1 2017 Q4 2016 Q4 2016 762 292 108 1,162 6.72% 6.52% 6.61% 6.66% $18.5 5.2 2.8 $26.5 $9.9 2.7 1.1 $13.7 In-Construction Portfolio Q1 2018 Deliveries Signa ture Pla ce a t Morris Pla ins 145 Front Street a t City Squa re (2 ) Total Q1 2018 Deliveries 100.00% 100.00% 100.00% 27.4% 18.4% 21.6% Q1 2018 Q1 2018 197 365 562 6.68% 6.29% 6.43% $3.9 5.9 $9.8 $2.2 3.6 $5.8 Q2 2018 Deliveries Lofts a t 40 Pa rk Ports ide 5/6 RiverHous e 11 a t Port Imperia l Total Q2 2018 Deliveries 25.00% 100.00% 100.00% 93.19% 22.0% 31.4% 0.0% 16.3% Q2 2018 Q2 2018 Q2 2018 59 296 295 650 6.72% 6.40% 6.31% 6.39% $1.2 7.1 7.7 $16.0 $0.3 4.2 4.7 $9.2 Q3 2018 Deliveries Ma rriott Hotels a t Port Imperia l Total Q3 2018 Deliveries 90.00% 90.00% Q3 2018 372 372 10.03% 10.03% $14.3 $14.3 $9.5 $9.5 Q4 2020 Deliveries PI North – Riverwa lk C Total Q4 2020 Deliveries 40.00% 40.00% Q4 2020 360 360 5.98% 5.98% $11.2 $11.2 $2.6 $2.6 (1 ) Total In-Construction 84.70% 1,944 7.02% $51.3 $27.1 Note: (1) Projected stabilized yield without the Marriott Hotels is 6.30 percent (see page 40). Roseland Residential 1Q 2018 35 Total 86.74% 3,106 6.89% $77.8 $40.8 Projected RRT RRT Nominal % Leased As of: Actual/Projected Projected Total Share of Stabilized Ownership As of 4/30/2018 Initial Leasing Units Yield NOI NOI After Debt Service

Roseland Balance Sheet $ in thousands (unaudited) ASSETS Rental Property La nd a nd lea s ehold interes ts Buildings a nd improvements Furniture, Fixtures a nd Equipment La nd a nd improvements held for development Development a nd cons truction in progres s Total Gross Rental Property Les s : Accumula ted Deprecia tion Net Investment in Rental Property As s ets Held for Sa le, Net Total Property Investments Ca s h a nd ca s h equiva lents Res tricted Ca s h Inves tments in uncons olida ted JV's Unbilled rents receiva ble, net Deferred Cha rges & Other As s ets Accounts receiva ble, net of a llowa nce Total Assets $137,867 803,896 27,329 279,673 500,743 $133,487 782,556 26,193 272,622 478,812 1,749,508 (61,386) 1,693,670 (55,087) 1,688,122 2,634 1,638,583 2,634 1,690,756 1,641,217 7,178 5,728 234,630 950 37,926 2,260 6,108 6,053 237,321 1,248 42,974 2,787 $1,979,428 $1,937,708 LIABILITIES & EQUITY Mortga ges , loa ns pa ya ble & other obliga tions Note Pa ya ble to Affilia te Accounts pa y, a ccrued exp a nd other lia bilities Rents recv'd in a dva nce & s ecurity depos its Accrued interes t pa ya ble Total Liabilities Redeema ble Noncontrolling Interes t - Rockpoint Noncontrolling Interes ts in Cons olida ted Joint Ventures Ma ck-Ca li Ca pita l Total Liabilities & Equity $810,281 17,300 78,076 4,089 2,064 $769,743 24,924 79,034 3,870 1,481 911,810 879,052 173,002 18,951 875,665 159,884 19,069 879,703 $1,979,428 $1,937,708 Roseland Residential 1Q 2018 36 Q1 2018 Q4 2017

Roseland Income Statement REVENUES Ba s e rents Es ca la tion a nd recoveries from tena nts Rea l es ta te s ervices Pa rking income Other income $ in thousands (unaudited) $16,319 572 4,427 1,915 627 $16,424 510 4,663 2,112 571 $16,147 705 5,218 2,168 585 $15,515 629 5,290 2,223 460 $9,350 417 5,617 1,590 460 Total revenues $23,860 $24,280 $24,823 $24,117 $17,434 EXPENSES Rea l es ta te ta xes Utilities Opera ting s ervices Rea l es ta te s ervice expens es Genera l a nd a dminis tra tive Deprecia tion a nd a mortiza tion $3,074 1,074 4,185 4,860 2,904 6,756 $2,868 871 3,530 4,806 3,472 8,713 $3,013 1,081 3,771 6,006 2,918 10,997 $3,013 910 4,010 5,714 2,960 10,495 $2,297 736 3,125 6,117 2,372 4,466 Total expenses $22,853 $24,260 $27,786 $27,102 $19,113 Operating Income $1,007 $20 ($2,963) ($2,985) ($1,679) OTHER (EXPENSE) INCOME Interes t expens e Interes t a nd other inves tment income (los s ) Equity in ea rnings (los s ) of uncons olida ted joint ventures Rea lized ga ins (los s es ) a nd unrea lized los s es on dis pos ition Ga in on s a le of inves tment in uncons olida ted joint venture Ga in (los s ) from ea rly extinguis hment of debt, net Total other income (expense) ($1,895) 412 1,712 - - - ($1,982) (29) (1,390) - - (182) ($2,164) 42 (2,591) 2,915 (1,430) - ($2,002) 20 (3,280) - - - - $40 (464) - 5,149 - $229 ($3,583) ($3,228) ($5,262) $4,725 Net income (loss) $1,236 ($3,563) ($6,191) ($8,247) $3,046 Noncontrolling interes t in cons olida ted joint ventures Redeema ble noncontrolling interes t Net income (loss) available to common shareholders $118 (2,344) $104 (2,227) $67 (2,227) $165 (2,227) $239 (528) ($990) ($5,686) ($8,351) ($10,309) $2,757 Roseland Residential 1Q 2018 37 1Q 2018 4Q 2017 3Q 2017 2Q 2017 1Q 2017

Operating & Lease-Up Communities $ in thousands, except per home Q1 2018 Percentage Leased (Stabilized): 97.3% Q1 2018 Avg. Revenue Per Home (Stabilized): $2,683 Notes: See supporting “Operating & Lease-Up Communities” notes on page 44 and “Operating Communities – Commercial on page 39 Roseland Residential 1Q 2018 38 RentableAvg.Year Operating CommunitiesLocationOwnership ApartmentsSFSizeComplete Cons olida te d Alterra a t Overlook RidgeRevere, MA100.00%722663,1399182008 The Cha s e a t Overlook RidgeMa lden, MA100.00%664598,1619012014 Pa rk Squa reRa hwa y, NJ100.00%159184,9571,1632009 Riverwa tchNew Bruns wick, NJ100.00%200147,8527391997 Mona coJers ey City, NJ100.00%523475,7429102011 Ports ide a t Ea s t Pier - 7Ea s t Bos ton, MA100.00%175156,0918922015 Qua rry Pla ce a t Tucka hoeEa s tches ter, NY100.00%108105,5099772016 Consolidated100.00%2,5512,331,451914 Joint Ve nture s RiverTra ce a t Port Imperia lWes t New York, NJ22.50%316295,7679362014 M2Jers ey City, NJ24.27%311273,1328782016 RiverPa rk a t Ha rris onHa rris on, NJ45.00%141125,4988902014 Urby a t Ha rbors ide (3 )Jers ey City, NJ85.00%762474,4766232017 Sta tion Hous eWa s hington, DC50.00%378290,3487682015 Joint Ventures54.86%1,9081,459,221765 Subordina te Inte re s ts (1 ) Ma rbellaJers ey City, NJ24.27%412369,5158972003 Metropolita n a t 40 Pa rkMorris town, NJ12.50%130124,2379562010 Subordinate Interests21.45%542493,752911 Operating Highlights AverageAverage Percentage PercentageRevenue Revenue LeasedLeasedPer Home Per HomeNOINOIDebt Q1 2018Q4 2017Q1 2018 Q4 2017Q1 2018 Q4 2017Balance 97.0%96.5%$1,950$1,947$2,421$2,574$100,000 97.4%97.6%2,0911,9972,3412,453135,750 97.5%96.2%2,0222,07283439226,217 97.0%92.0%1,7811,8474006440 96.7%96.0%3,4953,5433,5173,717165,000 98.9%97.8%2,7452,7609601,00758,998 97.2%84.3%3,1643,18243120341,000 97.2%95.9%$2,401$2,395$10,904 $10,990$526,965 97.5%95.9%$3,181$3,141$1,801$1,839$82,000 96.5%98.4%3,5043,3981,9662,10174,690 97.2%95.0%2,1912,23240442230,000 97.8%97.2%2,7512,8204,3602,984190,495 97.9%95.0%2,7602,6402,0491,84199,685 97.5%96.6%$2,905$2,888$10,580$9,187$476,870 96.8%96.6%$3,167$3,179$2,570$2,547$95,000 98.5%99.2%3,4153,38381879836,633 97.2%97.2%$3,226$3,228$3,388$3,345$131,633 Total Residential - Stabilized74.26%5,0014,284,424857 97.3%96.3%$2,683$2,674$24,872 $23,522 $1,135,468 Lease-up / Repositions Joint Ve nture s Crys ta l Hous eArlington, VA25.00%825738,7868951962 Joint Ventures25.00%825738,786895 93.5%94.2%$2,095$2,075$3,178$3,038$165,000 93.5%94.2%$2,095$2,075$3,178$3,038$165,000 Total Residential - Operating Communities (2 )67.29%5,8265,023,210862 96.78%96.01%$2,599$2,589$28,050 $26,560 $1,300,468 Total Commercial76.71%733,232 84.33%69.33%$1,036$1,056$42,740

In-Construction Communities $ in thousands Roseland’s share of NOI after debt service is projected to approximate $27.1 million (approximates to FFO) Project Capitalization - Total Capital as of 1Q-18 Development Schedule Third Party Capital Projected Projected Stabilized Stabilized Apartment Homes/Keys MCRC Capital Dev Costs (2 ) Debt Balance MCRC Capital Initial Project Debt (1 ) Community Location Ownership Costs Start Occupancy Stabilization NOI Yield Cons olida te d Ma rriott Hotels a t Port Imperia l 145 Front a t City Squa re Signa ture Pla ce a t Morris Pla ins Ports ide 5/6 RiverHous e 11 a t Port Imperia l Consolidated Weeha wken, NJ Worces ter, MA Morris Pla ins , NJ Ea s t Bos ton, MA Weeha wken, NJ 90.00% 100.00% 100.00% 100.00% 100.00% 97.56% 372 365 197 296 295 1,525 142,500 94,432 58,277 111,389 121,975 $528,573 94,000 58,000 42,006 73,000 75,000 $342,006 44,590 36,432 16,271 38,389 46,975 $182,657 3,910 0 0 0 0 $96,735 83,165 53,305 94,930 92,414 $420,549 $50,958 48,099 37,028 56,541 54,341 $246,967 $41,867 35,066 16,277 38,389 38,073 $169,672 Q3 2015 Q3 2015 Q4 2015 Q4 2015 Q1 2016 Q3 2018 Q1 2018 Q2 2018 Q2 2018 Q2 2018 Q4 2019 Q2 2019 Q1 2019 Q1 2019 Q3 2019 14,291 5,942 3,894 7,097 7,693 $38,917 10.03% 6.29% 6.68% 6.37% 6.31% 7.27% $3,910 Joint Ve nture s Metropolita n Lofts PI North - Riverwa lk C Joint Ventures Morris town, NJ Wes t New York, NJ 25.00% 40.00% 37.89% 59 360 419 17,972 186,500 $204,472 13,950 112,000 $125,950 2,011 29,800 $31,811 2,011 44,700 $46,711 16,212 46,489 $62,701 12,189 0 1,740 18,596 $20,336 Q3 2016 Q4 2017 Q2 2018 Q1 2021 Q4 2018 Q1 2022 1,208 11,150 $12,358 6.72% 5.98% 6.04% $12,189 (3 ) Total In-Construction Communities 84.70% 1,944 $733,045 $467,956 $214,468 $50,621 $483,250 $259,156 $190,008 $51,275 7.01% 2018 MCRC Rema ining Ca pita l 2019 MCRC Rema ining Ca pita l 2020 MCRC Rema ining Ca pita l Total Remaining Capital 192,283 46,185 11,327 $249,795 151,288 46,185 11,327 $208,800 $24,460 0 0 $24,460 Q1 2018 % Leased 4/30/18 % Leased Q1 2018 NOI ($71) - - - Lease-up Commencements 145 Front a t City Squa re Signa ture Pla ce a t Morris Pla ins Ports ide 5/6 Metropolita n Lofts Developments in Lease-up 10.1% 13.7% 0.0% 0.0% 7.0% 18.4% 27.4% 31.4% 22.0% 24.8% ($71) Notes: See supporting “In-Construction Communities” notes on page 44 Roseland Residential 1Q 2018 40

Future Start Communities As of March 31, 2018, 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 Current 2018/2019 Probable Starts Location Weehawken, NJ Jersey City, NJ Malden, MA Jersey City, NJ Jersey City, NJ Apartments 313 718 326 750 679 2,786 Ownership 100.00% 100.00% 100.00% 85.00% 100.00% 95.96% Target Start PI South - Building 8/9 25 Christopher Columbus Drive Overlook IIIC Urby at Harborside - II Plaza 8 2018/2019 Total Probable Starts Mid – 2018 Late – 2018 Late – 2018 Early – 2019 Mid – 2019 2018/2019 Possible Starts Portside 1-4 6 Becker Farm 233 Canoe Brook Road - Hotel 233 Canoe Brook Road – Residential 1 Water Street 2018/2019 Total Possible Starts East Boston, MA Roseland, NJ Short Hills, NJ Short Hills, NJ White Plains, NY 300 299 240 200 304 1,343 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% Future Developments Location Apartment Apartment 131 224 200 750 1,060 265 585 200 471 224 141 4,251 Freehold (2) 1633 Littleton Identified Rep Identified Rep Subtotal - N Overlook IIIA Overlook IV Subtotal - Boston Metro 490 Crystal House Crystal House Subtotal - Washington, DC 552 51 Washingto 2,786 1,343 10,957 150 Monument Road Bala Cynwyd, PA 206 Subtotal - Notes: See supporting “Future Start Communities” notes on page 44 Roseland Residential 1Q 2018 41 Freehold, NJ 400 (repurposing) Parsippany, NJ 345 urposing IIIA Essex County, NJ 140 urposing IIIB Essex County, NJ 140 ortheast Corridor 1,025 Malden, MA445 Malden, MA45 - IIIArlington, VA252 - FutureArlington, VA300 n StreetConshohoken, PA304 Philadelphia510 Future Developments Location PI South - Building 16Weehawken, NJ PI South - Park ParcelWeehawken, NJ PI South - Office 1/3 (1)Weehawken, NJ Urby at Harborside - IIIJersey City, NJ Plaza 9Jersey City, NJ Liberty Landing Phase IJersey City, NJ Liberty Landing - Future PhasesJersey City, NJ PI South - Building 2Weehawken, NJ PI North - Riverbend 6West New York, NJ PI North - Building IWest New York, NJ PI North - Building JWest New York, NJ Subtotal - Hudson River Waterfront 2018/2019 Probable Starts 2018/2019 Possible Starts Total Future Start Communities

Residential Equity Requirements As summarized in the table below, Mack-Cali is planning on and expects to have excess capital source availability to achieve the following development objectives: $ in thousands Complete Roseland’s in-construction portfolio of 1,944 units Complete Roseland’s funding requirement for 2018/2019 Probable Starts comprising 2,786 units i. ii. Comment USE: In-Construction Portfolio Repres ents rema ining requirements for the in cons truction portfolio a s s umma rized on Pa ge 40 Repres ents third pa rty ca pita l commitments (Riverwa lk C) Cons truction Completion 1,944 $249,795 $208,800 $40,995 (16,535) $24,460 Les s : Exis ting JV Pa rtner Commitments Remaining Roseland Capital (to be funded by Company cash) USE: Probable 2018/2019 Starts Repres ents five Proba ble 2018 a nd 2019 s ta rts in our core geogra phies in clos e proximity to exis ting opera tions Repres ents the Compa ny's exis ting la nd equity in Proba ble Sta rts (~$55,000/unit) Repres ents third pa rty ca pita l commitments (Urby II) Proba ble 2018/2019 Sta rts 2,786 $1,380,676 $832,009 $549,000 Les s : La nd Equity to Da te (156,000) (23,000) Les s : Exis ting JV Pa rtner Commitments Roseland Capital Obligation Potential Capital Sources Repres ents the ba la nce on Rockpoint's $300M commitment Repres ents exces s refina ncing proceeds upon ta keout fina ncing on a ctive in cons truction portfolio (ma x 65% LTV, excluding Riverwa lk C) Repres ents s elect dis pos itions for redeployment of ca pita l into Ros ela nd's core geogra phies Repres ents 50/50 joint ventures on s elect Ros ela nd Proba ble Sta rts (ca pita l s ource identified) $140,000 Rockpoint Ca pita l Cons truction Refina ncings 100,000 Dis pos itions 166,000 New Project-level Joint Ventures 139,000 Total Roseland Capital Sources 2018/2019 Start Excess Capital Source Potential (1 ) Notes: (1) Represents capital sources prior to reinvestment of Roseland cash flow generation. Roseland Residential 1Q 2018 42 $175,000 $545,000 $370,000 Construction Capital Units Total Cost Debt Requirement

Appendix Company Overview - (Page 4) $ in thousands (1) Includes the recently opened Signature Place at Morris Plains and Phase I of 145 Front at City Square; while move-ins occurred prior to quarter-end, construction remains underway on a portion of both properties. Key Financial Metrics - (Page 6) (1) 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 17 (2) 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. Balance Sheet - (Page 11) (1) Includes land held for future development of $213,081 for Office/Corp. and $279,673 for Roseland as of 1Q 2018. (2) Includes mark-to-market lease intangible net assets of $100,732 and mark-to-market lease intangible net liabilities of $46,431 as of 1Q 2018. Same Store Performance-(Page 18) (1) Values represent the Company’s pro rata ownership of operating portfolio. (2) Same store analysis excludes the previously included Chase I at Overlook Ridge (372 units), now consolidated with the Chase II at Overlook Ridge, which was in lease-up in 1Q 2017. Debt Summary & Maturity Schedule - (Page 19) (1) 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. (2) The actual weighted average LIBOR rate for the Company’s outstanding variable rate debt was 1.80 percent as of March 31, 2018, plus the applicable spread. (3) Excludes amortized deferred financing costs primarily pertaining to the Company’s unsecured revolving credit facility which amounted to $958 thousand for the three months ended March 31, 2018. Debt Profile - (Page 20) (1) 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. (2) 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. (3) Senior unsecured debt is rated BBB-/Ba1/BB+ by S&P, Moody’s and Fitch respectively. (4) Cost of terminated treasury lock agreements (if any), offering and other transaction costs and the discount/premium on the notes, as applicable. (5) Three year term with two 1-year extension options available. Unconsolidated Joint Ventures-(Page 22) (1) Amounts represent the Company’s share based on ownership percentage. (2) Unconsolidated Joint Venture reconciliation is as follows: Equity in Earnings of Unconsolidated Joint Ventures Unconsolidated Joint Venture Funds from Operations Joint Venture Share of Add-Back of Real Estate-Related Depreciation Minority Interest in Consolidated Joint Venture Share of Depreciation EBITDA Depreciation Add-Back 1Q 2018 ($1,572) 6,471 4,899 (84) $4,815 2018 Office Investment Activity - (Page 23) (1) Acquisitions list gross costs; dispositions list gross sales proceeds. (2) Weighted average cap rate calculated using forward 12-month NOI at period of sale. (3) Price Per SF calculation includes 1-11 Martine, a 82,000 SF condo space that did not generate income since its acquisition in 2Q 2016. 1Q 2018 43

Appendix - Continued Property Listing - (Page 26) (1) Excludes non-core holdings targeted for sale at 842,086 SF; excludes consolidated repositionings taken offline totaling 513,101 SF. Total consolidated office portfolio of 15,920,449 SF. (2) 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 March 2018 billings times 12. For leases whose rent commences after April 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. Top 15 Tenants - (Page 30) (1) Annualized base rental revenue is based on actual March 2018 billings times 12. For leases whose rent commences after April 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. (2) 62,613 square feet expire in 2018; 290,353 square feet expire in 2033. (3) 45,256 square feet expire in 2019; 237,350 square feet expire in 2029. (4) 271,533 square feet expire in 2018; 117,118 square feet expire in 2019. (5) 9,356 square feet expire in 2019; 33,363 square feet expire in 2021; 388,207 square feet expire in 2027. (6) 650 square feet expire in 2018; 295,922 square feet expire in 2032. (7) 66,606 square feet expire in 2024; 54,341 square feet expire in 2026. (8) 19,485 square feet expire in 2019; 17,855 square feet expire in 2021; 38,930 square feet expire in 2023; 52,738 square feet expire in 2024; 20,395 square feet expire in 2026; 15,408 square feet expire in 2027. (9) 90,450 square feet expire in 2018; 21,112 square feet expire in 2025. (10) 56,360 square feet expire in 2019; 82,936 square feet expire in 2026. Expirations - (Pages 31-32) (1) 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. (2) Includes leases in effect as of the period end date, some of which have commencement dates in the future, and leases expiring March 31, 2018 aggregating 123,882 square feet and representing annualized base rent of $3,911,645 for which no new leases were signed. (3) Reconciliation to Company’s total net rentable square footage is as follows: Square footage leased to commercial tenants Square footage used for corporate offices, management offices, building use, retail tenants, food services, other ancillary service tenants and occupancy adjustments Square footage unleased Total net rentable square footage (excluding ground leases) Square Feet 12,670,414 261,859 2,475,075 15,407,348 (1) Annualized base rental revenue is based on actual March 2018 billings times 12. For leases whose rent commences after April 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. Development Activity and Cash Flow Growth - (Page 35) (1) Projected stabilized yield without the Marriott Hotels at Port Imperial is 6.30 percent. (2) Roseland delivered Phase I (237 units) in 1Q 2018 and envision completion of Phase II (128 units) in 4Q 2018. Operating & Lease-up Communities - (Page 38) (1) As of March 31, 2018 Priority Capital included Marbella at $7,567 (Prudential); Metropolitan at $20,914 (Prudential). (2) Percentage Leased excludes 5 units undergoing renovation. (3) Excludes approximately 83,083 SF of ground floor retail. In-Construction Communities - (Page 40) (1) Represents maximum loan proceeds. (2) Represents development costs funded with debt or capital as of March 31, 2018. (3) Projected stabilized yield without the hotel project is 6.30 percent. Future Start Communities - (Page 41) (1) Currently approved for approximately 290,000 square feet of office space. (2) Roseland has signed an acquisition agreement, subject to certain conditions. 1Q 2018 44

Global Definitions Average Revenue Per Home: Calculated as total apartment revenue for the quarter ended Predevelopment Communities: Communities where the Company has commenced March 31, divided by the average percent occupied for the quarter ended March 31, 2018, divided by the number of apartments and divided by three. Consolidated Operating Communities: Wholly owned communities and communities predevelopment activities that have a near-term projected project start. Project Completion: As evidenced by a certificate of completion by a certified architect or whereby the Company has a controlling interest. issuance of a final or temporary certificate of occupancy. Flex Parks: Primarily office/flex properties, including any office buildings located within Project Stabilization: Lease-Up communities that have achieved over 95 Percentage the respective park. Leased for six consecutive weeks. Future Development: Represents land inventory currently owned or controlled by the Projected Stabilized NOI: Pro forma NOI for Lease-Up, In-Construction or Future Company. Development communities upon achieving Project Stabilization. Identified Repurposing Communities: Communities not currently owned by RRT, which Projected Stabilized Yield: Represents Projected Stabilized NOI divided by Total Costs. have been identified for transfer from Mack-Cali to RRT for residential repurposing. In-Construction Communities: Communities that are under construction and have not yet Repurposing Communities: Commercial holdings of the Company which have been commenced initial leasing activities. 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 Subordinated Joint Ventures: Joint Venture communities where the Company's not yet achieved Project Stabilization. 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 Suburban: Long-term hold office properties (excluding Class A Suburban and Waterfront locations); formerly defined as Suburban Core obligation to contribute to a project. Net Asset Value (NAV): The metric represents the net projected value of the Company’s Third Party Capital: Capital invested by third parties and not Mack-Cali. interest after accounting for all priority debt and equity payments. The metric includes capital invested by the Company. Net Operating Income (NOI): Total property revenues less real estate taxes, utilities and Total Costs: Represents full project budget, including land and developer fees, and operating expenses 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. 1Q 2018 45

Company Information, Executive Officers & Analysts Company Information Corporate Headquarters Ma ck-Ca l i Rea l ty Corpora ti on Ha rbors i de 3, 210 Huds on St., Ste. 400 Jers ey Ci ty, New Jers ey 07311 (732) 590-1010 Stock Exchange Listing New York Stock Excha nge Contact Information Ma ck-Ca l i Rea l ty Corpora ti on I nves tor Rel a ti ons Depa rtment Ha rbors i de 3, 210 Huds on St., Ste. 400 Jers ey Ci ty, New Jers ey 07311 Trading Symbol Common Sha res : CLI Dei dre Crockett, Seni or Vi ce Pres i dent of Corpora te Communi ca ti ons a nd I nves tor Rel a ti ons Phone: (732) 590-1025 Fa x: (201) 434-4707 E-Ma i l : dcrockett@ma ck-ca l i .com Web: www.ma ck-ca l i .com Executive Officers Michael J. DeMarco Chief Executive Officer Marshall Tycher Chairman, Roseland Residential Trust Mitchell E. Rudin Vice Chairman David Smetana Chief Financial Officer Andrew Marshall President, Roseland Residential Trust Gary Wagner General Counsel and Secretary Ricardo Cardoso EVP and Chief Investment Officer Nicholas Hilton Executive Vice President, Leasing Equity Research Coverage Bank of America Merrill Lynch Ja mes C. Fel dma n / Scott Frei ta g (646) 855-5808 / (646) 855-3197 Citigroup Mi cha el Bi l erma n / Emma nuel Korchma n (212) 816-1383 / (212) 816-1382 Green Street Advisors Jed Rea ga n (949) 640-8780 SunTrust Robinson Humphrey, Inc. Mi cha el R. Lewi s (212) 319-5659 Barclays Capital Ros s L. Smotri ch / Trevor Young (212) 526-2306 / (212) 526-3098 Deutsche Bank North America Vi ncent Cha o (212) 250-6799 JP Morgan Anthony Pa ol one (212) 622-6682 BTIG, LLC Thoma s Ca therwood / Ja mes Sul l i va n (212) 738-6140 / (212) 738-6139 Evercore ISI Steve Sa kwa (212) 446-9462 Stifel Nicolaus & Company, Inc. John Gui nee / Eri n As l a ks on (443) 224-1307 / 443-224-1350 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 1Q 2018 46

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 Quarterly Report on Form 10-Q for the Quarter ended March 31, 2018. We assume no obligation to update and supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise. This Supplemental Operating and Financial Data is not an offer to sell or solicitation to buy any securities of the Mack-Cali Reality Corporation (“MCRC”). Any offers to sell or solicitations of the MCRC shall be made by means of a prospectus. The information in this Supplemental Package must be read in conjunction with, and is modified in its entirety by, the Quarterly Report on Form 10-Q (the “10-Q”) filed by the MCRC for the same period with the Securities and Exchange Commission (the “SEC”) and all of the MCRC’s other public filings with the SEC (the “Public Filings”). In particular, the financial information contained herein is subject to and qualified by reference to the financial statements contained in the 10-Q, the footnotes thereto and the limitations set forth therein. Investors may not rely on the Supplemental Package without reference to the 10-Q and the Public Filings. Any investors’ receipt of, or access to, the information contained herein is subject to this qualification. 1Q 2018 47