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 $5.0 bi l l i on $3.6 bi l l i on $45.2 mi l l i on $0.45 $21.1 mi l l i on $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 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) % Commenced 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 15.5 mi l l i on 125 83.2% 81.1% 16.5% 7.5% $30.29 15.4 mi l l i on 123 85.2% 84.6% 10.7% 5.1% $30.17 Residential Portfolio Opera ti ng Res i denti a l Uni ts 6,082 5,826 % Lea s ed Res i denti a l (Excl . Lea s e-Up) Avera ge Rent Per Uni t (Excl . Lea s e-Up) In-Cons tructi on Res i denti a l Uni ts /Keys 97.5% $2,670 2,001 97.3% $2,683 1,944 Urby Harborside, Jersey City, NJ Company Highlights 2Q 2018 4 2Q 20181Q 2018

Company Achievements 2Q 2018 Performance Highlights Achieved Core FFO of $45.2 million, or $0.45 per share Produced AFFO of $21.1 million Office: Leased 453,337 square feet of office space; finished 2Q 2018 at 83.2% leased (excluding non-core) Residential: The operating portfolio, excluding lease-up and repositioning properties, finished 2Q at 97.5% leased. 2Q 2018 Starts The Company commenced development of Building 8/9, a $142.6 million, 313-unit development site on the Port Imperial Waterfront. The buildout of Building 8/9 is anticipated to be supported by a $92 million construction loan. 2Q 2018 Lease-Ups/Deliveries Subsequent to quarter-end, the Company commenced leasing activities at RiverHouse 11, a 295-unit continuation of our Port Imperial master-planned community. As of July 30, the project was 58.6% leased (173 units) The Company continued to see strong leasing activity at its lease-up communities. As of July 30, the projects are leased as following: Monaco, Jersey City, NJ Portside 5/6 at East Pier, a 296-unit continuation of our East Boston master-planned community: 56.1% leased 145 Front Street at City Square, a 365-unit development, in Worcester, MA: 35.9% leased (includes the recent delivery of Phase II’s 128 units. Signature Place, a 197-unit development in Morris Plains, NJ: 58.4% leased Metropolitan Lofts, a 59-unit development in Morristown, NJ: 61.0% leased Transaction Activity In the quarter ended June 30, 2018, the Company did not dispose of any Office buildings In the quarter ended June 30, 2018, the Company entered into an agreement to acquire Prudential’s membership interest in Marbella, thereby converting its prior subordinate interest into a controlling interest (the last significant subordinate interest). The acquisition is scheduled to close on or before August 11 with target funding from a $131 million refinancing and Rockpoint capital 150 JFK Pkwy, Short Hills, NJ Company Highlights 2Q 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 (I ncl ude s OP Uni ts ) → Pre fe rre d Equi ty (Rockpoi nt) → OP Equi ty (Pre fe rre d OPs ) → Book Va l ue of JV Mi nori ty I nte re s t 0.45 (0.05) $2,322,868 2,039,203 231,341 52,324 20,959 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 21,003 21,033 18,998 19,447 Tota l De bt, Ne t Tota l Ma rke t Ca pi ta l i za ti on 2,646,436 4,990,263 2,615,211 4,530,061 2,809,568 5,206,419 2,839,186 5,446,619 2,950,219 5,899,266 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 ) : 90,286,268 10,266,143 100,552,411 100,597,697 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 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: $20.28 20.86 16.23 0.20 $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 Ne t De bt to Ad jus te d EBI TDA → 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 9.7x 8.6x 8.1x 16.7x 10.9x 3.5x 2.3x 8.8x 7.9x 7.5x 14.1x 9.8x 3.7x 2.5x (3) 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 Tota l De bt/ Tota l Ma rke t Ca pi ta l i za ti on 53.0% 57.7% 56.7% 52.1% 50.0% Tota l De bt/ Tota l Book Ca pi ta l i za ti on 54.5% 54.3% 54.0% 56.8% 58.1% Tota l De bt/ Tota l Unde pre ci a te d As s e ts 44.6% 44.5% 46.5% 46.2% 47.5% 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 42 20.6% 20.1% 23.5% 22.0% 21.9% Company Highlights 2Q 2018 6 2Q 20181Q 20184Q 20173Q 20172Q 2017

Net Asset Value (Unaudited) $ in millions (except per share amounts) NAV Calculation (2) Net Value Range (3) 2Q2018 Company Highlights High Low $1,799 $1,387 547 456 693 618 594 511 $3,633 $2,972 75 75 39 39 90 90 56 56 39 39 116 116 $4,048 $3,387 (1,433) (1,433) (140) (140) 511 1511 $2,422 $1,761 $554 $444 366 296 40 32 458 377 476 430 50 50 $1,944 $1,629 (2441 (2201 $1,700 $1,409 $4,122 $3,170 $40.97 $31.51 Office Portfolio Rentable SF Projected Cap Rate Apt Units NOI (1) MSF Hudson Waterfront (Jersey City, Hoboken) 4.884 $81.3 4.5% Class A Suburba n (Metropark, Short Hills) 1.951 42.7 6.9% Suburban 4.250 57.4 8.8% Flex Parks 3.527 36.5 6.6% Subtotal (4) 14.612 $217.9 Non-Core (5) 0.842 Hotel and OtherJV Interests (6) Harborside Plaza 4 Wegman’s & Retail (7) Land (8) Repositioning Properties (9) Office -Asset Value 15.454 Less: Office Unsecured Debt Less: Market Management Fee (10) Less: Office Preferred Equity/LP Interests Total Office NAV 15.454 Residential Portfolio Units Operating Properties -Wholly Owned 2,748 $51.7 4.8% Operating Properties -JVs (11) 2,792 65.1 4.7% Operating Properties -Subordinate JVs 542 15.6 4.8% In-Construction Properties (12) 2,001 57.5 5.2% Land (8) 10,668 Fee Income Business, Tax Credit, & Excess Cash Residential -Asset Value (24) 18,751 Less: Rockpoint Interest Total Residential NAV 18,751 Total Mack-Cali NAV Approximate NAV/Share (100.6MM shares) (15) $35.93 I $3,615 I $496 331 36 421 453 50 $1,787 75 39 90 56 39 116 $3,686 $1,570 498 654 549 $3,271 (2321 $1,555 ($569) $0 ($1) (693) (351) (4) (138) (152) 0 (504) (93) (92) 0 (100) 0 0 0 0 ($1,904) ($696) ($97) $1,066 $388 1,379 494 326 601 1,110 555 553 52 50 $4,484 (1,433) (140) (53) $1,820 $373 623 319 654 154 549 156 $3,646 $250 75 208 90 56 39 116 $4,230 0 0 0 (129) (40) 0 0 0 0 0 0 0 0 0 0 0 0 0 ($504) ($40) $0 ($250) $0 $0 (125) 0 0 0 0 0 0 0 0 ($375) $0 $0 Gross Asset Gross Per SF/ Property Third Party Discounting Net Asset Value Unit(10) Debt Interests 43) Value (A) (B) (C) (D) (A-B-C-D) 2Q2018 Company Highlights Notes: See footnotes and “Information About Net Asset Value (NAV)” on pages 9 and 10. 2Q2018 Company Highlights

Notes: Net Asset Value (Unaudited) (1) Reflects 2018 cash net operating income with management fees added back for office portfolio. (2) 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. (3) 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. (4) Office Rentable Area (MSF) Projected 2018 NOI Year 1 Cap Rate In-Place Rent PSF Market Rent PSF Stabilized Occupancy Rate Stabilized Cap Rate Unleve red IRR Value $ PSF Hudson Waterfront 4.884 $81.29 4.47% $38.54 $45.05 92.00% 6.00% 7.00% $1,820 $373 Class ASuburban 1.951 42.69 6.85% 36.83 38.90 92.50% 6.50% 8.00% 623 319 Suburba n 4.250 57.40 8.78% 27.64 27.86 88.00% 8.00% 9.00% 654 154 Flex Parks 3.527 36.50 6.65% 18.46 19.67 94.00% 7.00% 8.00% 549 156 Subtotal 14.612 $217.88 $30.29 $33.10 $3,646 $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. (6) Includes the Company’s ownership interests in the Hyatt Regency Jersey City and three office joint venture properties. (7) 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%. (8) 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. 2Q 2018 9

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. (10) 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. (11) 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. (12) 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 $55.9 million upon completion of the construction or lease-up activities, the Company deducts any estimated future costs totaling $307.6 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. (13) Represents discounted NOI for assets not yet stabilized and required capital to complete assets. (14) The residential valuation analysis totals to a Roseland NAV of $1,787,000,000, with the company’s share of this NAV of $1,555,000,000 (“MCRC Share”). This latter amount represents the company’s share of Roseland NAV, net of the $232,000,000 attributable to Rockpoint’s noncontrolling interest. (15) The increase in the approximate NAV per share of $0.11 from March 31, 2018 to June 30, 2018 is due primarily to the decrease in office unsecured debt of $8 million and the start of construction at Building 8/9 at Port Imperial. 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. 2Q2018 Company Highlights

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 $329 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 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 42 for more information. Company Highlights 2Q 2018 11 4Q 2017 2Q 2018 Office/Corp. Roseland Elim./Other Total $277,854 2,455,580 327,255 4,951 212,010 86,150 $138,797 - 917,970 - 476 - 32,042 - 286,691 - 419,967 - 1,795,943 - (68,580) - 1,727,363 - 2,634 - 1,729,997 - 19,326 - 6,393 - 232,199 - 1,037 - 45,140 - 2,387 - $2,036,479 $0 - - - - 848,686 - - - 63,079 - 4,639 - 2,228 - 918,632 - - - 231,891 - 867,100 - - - 18,856 - 18,856 - 885,956 - $2,036,479 $0 $416,651 3,373,550 327,731 36,993 498,701 506,117 3,363,800 (1,003,449) 5,159,743 (1,072,029) 2,360,351 53,785 4,087,714 56,419 2,414,136 4,144,133 10,338 15,728 15,408 97,215 264,978 4,002 29,664 22,121 247,607 98,252 310,118 6,389 $2,821,805 $4,858,284 $569,730 856,188 371,833 21,407 117,862 34,811 6,290 $569,730 856,188 1,220,519 21,407 180,941 39,450 8,518 1,978,121 - 52,324 620,147 169,110 2,103 2,896,753 - 284,215 1,487,247 169,110 20,959 171,213 190,069 791,360 1,677,316 $2,821,805 $4,858,284

Income Statement Quarterly Comparison $ in thousands, except per share amounts (unaudited) Office/ Corp. 2Q 2018 Roseland Total 1Q2018 4Q2017 3Q2017 2Q2017 REVENUES Base rents $86,452 $17,132 $103,584 $112,902 $118,419 $128,643 $133,017 Escalation and recoveries from tenants 9,606 695 10,301 12,791 11,312 16,385 15,951 Real estate services 104 3,970 4,074 4,661 5,149 5,748 5,767 Parking income 3,451 2,306 5,757 5,327 5,223 5,766 5,052 Other income 2,196 677 2,873 3,286 3,426 3,476 2,979 Total revenues $101,809 $24,780 $126,589 $138,967 $143,529 $160,018 $162,766 EXPENSES Real estate taxes $14,727 $3,239 $17,966 $18,361 $17,755 $21,300 $21,217 Utilities 6,413 1,142 7,555 12,504 9,347 11,480 10,357 Operating services 18,472 4,467 22,939 25,618 26,884 26,312 27,092 Real estate service expenses 68 4,292 4,360 4,936 5,018 6,207 5,899 General and administrative 10,401 3,054 13,455 16,085 13,726 13,140 12,491 Depreciation and amortization 34,132 7,281 41,413 41,297 47,401 52,375 57,762 Total expenses $84,213 $23,475 $107,688 $118,801 $120,131 $130,814 $134,818 Operating Income $17,596 $1,305 $18,901 $20,166 $23,398 $29,204 $27,948 OTHER (EXPENSE) INCOME Interest expense ($16,331) ($2,668) ($18,999) ($20,075) ($22,490) ($25,634) ($24,943) Interest and other investment income (loss) 638 3 641 1,128 1,408 762 122 Equity in earnings (loss) of unconsolidated joint ventures 909 (961) (52) 1,572 (1,199) (1,533) (3,298) Realized gains (losses) and unrealized losses on disposition 1,010 1,010 58,186 4,476 31,336 (38,954) Gain on sale of investment in unconsolidated joint venture - - 10,568 - Gain (loss) from early extinguishment of debt, net (10,289) 182 Total other income (expense) $13,774 ($3,626) $17,400 $30,522 ($17,987) $15,499 ($67,073 Net income (loss) $3,822 ($2,321) $1,501 $50,688 $5,411 $44,703 ($39,125) Noncontrolling interest in consolidated joint ventures $0 $95 $95 $30 $153 $447 $181 Noncontrolling interest in Operating Partnership 142 142 (4,883) (299) (4,413) 4,296 Redeemable noncontrolling interest 455 (2,534) 2,989 2 799 (2.683) (2.683) (2.682) Net income (loss) available to common shareholders 3 509 ($4,760) 1 251 543.036 52.582 $38,054 ($37,330) Basic earnings per common share: Net income (loss) available to common shareholders ($0.05) $0.45 ($0.01) $0.39 ($0.44) Diluted earnings per common share: Net income (loss) available to common shareholders ($0.05) $0.45 ($0.01) $0.39 ($0.44) Basic weighted average shares outstanding 90,330 90,263 90,029 90,023 90,011 Diluted weighted average shares outstanding 100,598 100,604 100,468 100,727 100,370 2Q2018 Company Highlights

FFO, Core FFO & AFFO Quarterly Comparison $ in thousands, except per share amounts and ratios (unaudited) 2Q2018 1Q2018 4Q2017 3Q2017 2Q2017 Net income (loss) available to common shareholders ($1,251) $43,036 $2,582 $38,054 ($37,330) Add (deduct): Noncontrol ling interest in Operating Partnership (142) 4,883 299 4,413 (4,296) Real estate-related depreciation and amortization on continuing operations (1) 45,781 45,602 51,619 57,231 63,156 Gain on sale of investment in unconsolidated joint venture (10,568) Realized gains and unrealized losses on disposition of rental property, net 1,010 58,186 4,476 31,336 38,954 Funds from operations (2) $43,378 $35,335 $50,024 $57,794 $60,484 Add Deduct: Loss from extinguishment of debt, net $10,289 $182 Severance/separation costs on management restructuring 1,795 5,052 Core FFO $45,173 $50,676 $50,206 $57,794 $60,484 Add (Deduct) Non-Cash Items: Straight-line rent adjustments (3) $249 ($2,742) ($3,685) ($6,360) ($3,240) Amortization of market lease intangibles, net (4) (1,313) (2,130) (2,234) (2,254) (2,187) Amortization of lease inducements 258 294 444 535 446 Amortization of stock compensation 783 2,657 2,303 2,291 2,167 Non real estate depreciation and amortization 536 511 511 505 349 Amortization of debt discount/(premium) and mark-to-market, net (237) (237) (201) (164) (163) Amortization of deferred financing costs 1,145 1,096 1,150 1,184 1,175 Deduct: Non-incremental revenue generating capital expenditures: Building improvements (723) (1,666) (2,842) (1,664) (3,303) Tenant improvements and leasing commissions (5) (17,939) (4,468) (4,791) (5,110) (8,150) Tenant improvements and leasing commissions on space vacant for more than one year 6,851 7,695 2,761 6,667 4,956 Adjusted FFO (2) $21,081 $36,296 $38,100 $40,090 $42,622 Core FFO (calculated above) $45,173 $50,676 $50,206 $57,794 $60,484 Deduct: Equity in earnings (loss) of unconsolidated joint ventures, net $52 ($1,572) $1,199 $1,533 $3,298 Equity in earnings share of depreciation and amortization (4,903) (4,815) (4,729) (5,260) (5,844) Add-back: Interest expense 18,999 20,075 22,490 25,634 24,943 Recurring JV distributions (6) 4,585 6,690 2,862 4,057 2,479 Income (loss) in non-controlling interest in consolidated joint ventures (95) (30) (153) (447) (181) Redeemable noncontrolling interest 2,989 2,799 2,683 2,683 2,682 Income tax expense 144 Adjusted EBITDA $66,944 $73,823 $74,558 $85,994 $87,861 Net debt at period end (7) $2,616,772 $2,589,903 $2,781,388 $2,750,397 $2,928,500 Net debt to Adjusted EBITDA 9.7x 8.8x (9) 9.3x 8.0x 8.3x Diluted weighted average shares/units outstanding (8) 100,598 100,604 100,468 100,727 100,370 Funds from operations per share-diluted $0.43 $0.35 $0.50 $0.57 $0.60 Core Funds from Operations per share/unit-diluted $0.45 $0.50 $0.50 $0.57 $0.60 Dividends declared per common share $0.20 $0.20 $0.20 $0.20 $0.20 Notes: See footnotes and “Information About FFO, Core FFO, & AFFO” on page 17. 2Q2018 Company Highlights

Noncontrolling interest in consolidated joint ventures Noncontrolling interest in Operating Partnership Redeemable noncontrolling interest $ in thousands YTD 2018 YTD 2017 $216,486 $254,272 23,092 31,070 8,735 12,232 11,084 9,281 6,159 5,798 $265,556 $312,653 $36,327 $42,309 20,059 21,771 48,557 54,183 9,296 12,169 29,540 24,083 82,710 105,393 $226,489 $259,908 $39,067 $52,745 ($39,074) ($45,264) 1,769 596 1,520 (3,349) 59,196 (33,448) - 12,563 (10,289) (239) $13,122 ($69,141) $52,189 ($16,396) Income Statement Year-over-Year Comparison REVENUES Base rents Escalation and recoveries from tenants Real estate services Parking income Other income Total revenues EXPENSES Real estate taxes Utilities Operating services Real estate service expenses General and administrative Depreciation and amortization Total expenses Operating Income OTHER (EXPENSE) INCOME Interest expense Interest and other investment income (loss) Equity in earnings (loss) of unconsolidated joint ventures Realized gains (losses) a nd unrealized losses on disposition Gain on sale of investment in unconsolidated joint venture Gain (loss)from early extinguishment of debt, net Total other income (expense) Net income (loss) $125 (4,741) (5,788) $418 2,001 (3,474) Net income (loss) available to common shareholders 541.785 (517.451) Basic earnings per common share: Net income (loss) availa ble to common shareholders $0.39 ($0.33) Diluted earnings per common share: Net income (loss) availa ble to common shareholders $0.39 ($0.33) Basic weighted average shares outstanding 90,297 89,983 Diluted weighted average shares outstanding 100,598 100,354 2Q2018 Company Highlights

FFO, Core FFO & AFFO Year-over-Year Comparison $ in thousands except per share amounts and ratios (unaudited) YTD 2018 YTD 2017 Net income available to common shareholders $41,785 ($17,451) Add (deduct): Noncontrolling interest in Operating Partnership 4,741 (2,001) Real estate-related depreciation and amortization on continuing operations (1) 91,383 114,913 Gain on sale of investment in unconsolidated joint venture (12,563) Realized gains and unrealized losses on disposition of rental property, net 59 196 33,448 Funds from operations (2) $78,713 $116,346 Add Deduct: Loss from extinguishment of debt, net $10,289 $239 Severance/separation costs on management restructuring 6,847 Core FFO $95,849 $116,585 Add (Deduct) Non-Cash Items: Straight-line rent a di ustments (3) ($2,493) ($6,253) Amortization of market lease intangibles, net (4) (3,443) (3,764) Amortization of lease inducements 552 - Amortization of stock compensation 3,440 3,335 Non real estate depreciation and amortization 1,047 726 Amortization of debt discount/(premium) and mark-to-market, net (474) 78 Amortization of deferred financing costs 2,241 2,278 Deduct: Non-incremental revenue generating capital expenditures: Building improvements (2,389) (8,272) Tenant improvements and leasing commissions (5) (22,407) (12,115) Tenant improvements and leasing commissions on space vacant for more than one year 14 546 (12,116) Adjusted FFO (2) $57,377 $80,482 Core FFO (calculated above) $95,849 $116,585 Deduct: Equity in earnings (loss) of unconsolidated joint ventures, net ($1,520) $3,349 Equity in earnings share of depreciation and amortization (9,718) (10,347) Add-back: Interest expense 39,074 45,264 RecurringJV distributions (6) 11,275 5,721 Income (loss) in non-controlling interest in consolidated joint ventures (125) (418) Redeemable noncontrolling interest 5,788 3,474 Income tax expense 144 - Adjusted EBITDA $140,767 $163,628 Net debt at period end (7) $5,206,675 $2,928,500 Net debt to Adjusted EBITDA 9.8x 8.9x Diluted weighted average shares/units outstanding (8) 100,598 100,354 Funds from operations per share-diluted $0.78 $1.16 Core Funds from Operations per share/unit-diluted $0.95 $1.16 Dividends declared per common share $0.40 $0.35 Notes: See footnotes and “Information About FFO, Core FFO, & AFFO” on page 17. 2Q2018 Company Highlights

FFO, Core FFO & AFFO (Notes) 17 2Q 2018 Company Highlights Notes Includes the Company’s share from unconsolidated joint ventures, and adjustments for noncontrolling interest, of $4,903 and $5,742 for the three months ended June 30, 2018 and 2017, respectively, and $9,718 and $10,245 for the six months ended June 30, 2018 and 2017, respectively. Excludes non-real estate-related depreciation and amortization of $535 and $349 for the three months ended June 30, 2018 and 2017, respectively, and $1,046 and $726 for the six months ended June 30, 2018 and 2017, respectively. Funds from operations is calculated in accordance with the definition of FFO of the National Association of Real Estate Investment Trusts (NAREIT). See “Information About FFO, Core FFO and AFFO” below. Includes free rent of $2,099 and $6,473 for the three months ended June 30, 2018 and 2017, respectively, and $8,474 and $13,126 for the six months ended June 30, 2018 and 2017, respectively. Also includes the Company's share from unconsolidated joint ventures of ($256) and $307 for the three months ended June 30, 2018 and 2017, respectively, and ($694) and $295 for the six months ended June 30, 2018 and 2017, respectively. Includes the Company's share from unconsolidated joint ventures of $27 and $80 for the three months ended June 30, 2018 and 2017, respectively, and $107 and $175 for the six months ended June 30, 2018 and 2017, respectively. Excludes expenditures for tenant spaces in properties that have not been owned by the Company for at least a year. 1Q 2018 and YTD 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. 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. Calculated based on weighted average common shares outstanding, assuming redemption of Operating Partnership common units into common shares (10,213 and 10,359 shares for the three months ended June 30, 2018 and 2017, respectively, and 10,227 and 10,371 shares for the six months ended June 30, 2018 and 2017, respectively). 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 1Q 2018 net debt to EBITDA ratio is 9.0x. Funds from operations (“FFO”) is defined as net income (loss) before noncontrolling interests of unitholders, computed in accordance with generally accepted accounting principles (“GAAP”), excluding gains or losses from depreciable rental property transactions, and impairments related to depreciable rental property, plus real estate-related depreciation and amortization. The Company believes that FFO per share is helpful to investors as one of several measures of the performance of an equity REIT. The Company further believes that as FFO per share excludes the effect of depreciation, gains (or losses) from sales of properties and impairments related to depreciable rental property (all of which are based on historical costs which may be of limited relevance in evaluating current performance), FFO per share can facilitate comparison of operating performance between equity REITs. FFO per share should not be considered as an alternative to net income available to common shareholders per share as an indication of the Company’s performance or to cash flows as a measure of liquidity. FFO per share presented herein is not necessarily comparable to FFO per share presented by other real estate companies due to the fact that not all real estate companies use the same definition. However, the Company’s FFO per share is comparable to the FFO per share of real estate companies that use the current definition of the National Association of Real Estate Investment Trusts (“NAREIT”). A reconciliation of net income per share to FFO per share is included in the financial tables above. Core FFO is defined as FFO, as adjusted for items that may distort the comparative measurement of the Company’s performance over time. Adjusted FFO ("AFFO") is defined as Core FFO less (i) recurring tenant improvements, leasing commissions and capital expenditures, (ii) straight-line rents and amortization of acquired below-market leases, net, and (iii) other non-cash income, plus (iv) other non-cash charges. Core FFO and AFFO are both non-GAAP financial measures that are not intended to represent cash flow and are not indicative of cash flows provided by operating activities as determined in accordance with GAAP. Core FFO and AFFO are presented solely as supplemental disclosures that the Company’s management believes provides useful information regarding the Company's operating performance and its ability to fund its dividends. There are not generally accepted definitions established for Core FFO or AFFO. Therefore, the Company's measures of Core FFO and AFFO may not be comparable to the Core FFO and AFFO reported by other REITs. A reconciliation of net income to Core FFO and AFFO are included in the financial tables above. Information About FFO, Core FFO and AFFO 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. Information About EBITDAre

Same Store Performance $ in thousands Office Same Store Tota l Property Revenues $100,871 $109,918 ($9,047) (8.2%) $187,364 $198,156 ($10,792) (5.4%) Rea l Es ta te Ta xes Utilities Opera ting Services Tota l Property Expens es $14,754 6,158 17,871 $38,783 $14,789 7,418 18,062 $40,269 ($35) (1,260) (191) ($1,486) (0.2%) (17.0%) (1.1%) (3.7%) $27,994 15,395 34,118 $77,507 $28,018 14,323 34,365 $76,706 ($24) 1,072 (247) $801 (0.1%) 7.5% (0.7%) 1.0% GAAP Net Operating Income $62,088 $69,649 ($7,561) (10.9%) $109,857 $121,450 ($11,593) (9.5%) Les s : s tra ight-lining of rents a dj. a nd FAS 141 $1,135 $5,006 ($3,871) (77.3%) $6,051 $7,997 ($1,946) (24.3%) Net Opera ting Income $60,953 $64,643 ($3,690) (5.7%) $103,806 $113,453 ($9,647) (8.5%) Tota l Properties 111 111 - - 105 105 - - Tota l Squa re Foota ge 15,310,383 15,310,383 - - 14,236,337 14,236,337 - - % Lea s ed 82.2% 89.5% - (8.2%) 81.9% 89.8% - (8.8%) Residential Same Store (1) Tota l Property Revenues $16,278 $16,516 ($238) (1.4%) $32,904 $32,834 $70 0.2% Rea l Es ta te Ta xes Opera ting Expens es Tota l Property Expens es $2,056 4,112 6,168 $2,055 4,224 6,279 $1 (112) (111) 0.0% (2.7%) (1.8%) $4,026 8,304 12,330 $4,092 8,076 12,168 ($66) 228 162 (1.6%) 2.8% 1.3% GAAP Net Operating Income $10,110 $10,237 ($127) (1.2%) $20,574 $20,666 ($92) (0.4%) Tota l Units (2 ) 3,156 3,156 - - 3,156 3,156 - - % Lea s ed 97.5% 97.9% (0.4%) 97.5% 97.9% (0.4%) Notes: Total property revenues represent the sum of: base rents, escalations and recoveries from tenants, parking income and other income. GAAP NOI represents total property revenues less total operating expenses (which excludes real estate services expenses; general and administrative, acquisition related costs and interest expense.) See supporting “Same Store Performance” notes on page 42 Company Highlights 2Q 2018 18 For the Six Months Ended 2Q 2018 2Q 2017 Change % Change For the Three Months Ended 2Q 2018 2Q 2017 Change % Change For the Six Months Ended 2Q 2018 2Q 2017 Change % Change For the Three Months Ended 2Q 2018 2Q 2017 Change % Change

Debt Summary & Maturity Schedule $ in thousands Debt Breakdown Fixed Rate Debt $1,250,000 916,027 $2,166,027 46.98% 34.43% 81.41% 3.70% 3.62% 3.67% 2.54 6.66 4.28 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 $311,490 183,000 $494,490 11.71% 6.88% 18.59% 4.88% 3.39% 4.33% 1.23 2.57 1.73 Totals/Weighted Average Adjus tment for Una mortized Debt Dis count Una mortized Deferred Fina ncing Cos ts Total Consolidated Debt, net $2,660,517 (3,171) (10,909) $2,646,437 100.00% 3.79% ( 3 ) 3.81 Unconsolidated Secured Debt CLI Sha re Pa rtners ’ Sha re Total Unconsolidated Secured Debt $398,016 521,574 $919,590 43.28% 56.72% 100.00% 4.04% 4.04% 4.04% 7.08 7.08 7.08 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 $0 660,324 325,000 351,800 300,000 333,998 663,929 $2,635,051 $700 532 2,903 3,227 3,284 3,412 7,230 $21,288 (3,171) 4,178 (10,909) $11,386 700 660,856 327,903 355,027 303,284 337,410 671,159 2,656,339 (3,171) 4,178 (10,909) $2,646,437 3.85% 4.03% 3.46% 3.30% 4.60% 3.53% 3.73% 3.79% - - - ( 3 ) $2,635,051 3.79% Notes: See supporting “Debt Summary & Maturity Schedule” notes on page 42 Company Highlights 2Q 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 : (2 )(3 ) 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% - - - 250,000 124,500 374,500 (2,667) $371,833 27,090 209,257 40,485 250,000 124,500 651,332 (2,941) $648,391 10/11/26 04/01/27 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 (3,171) (2,099) $569,730 300,000 275,000 575,000 (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 7 Lenders 13 Lenders 13 Lenders 3.28% 3.46% LIBOR +1.30% $350,000 325,000 183,000 (1,812) $856,188 $1,797,751 $350,000 325,000 150,000 (2,712) $822,288 $2,039,824 01/07/19 (4 ) 01/25/20 (4 ) 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 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% $65,598 39,918 67,088 60,107 52,913 $285,624 $43,674 32,491 45,778 46,113 37,821 $205,877 10/06/19 05/20/19 09/29/19 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 42 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+1.87% 3.15% 4.56% 3.57% 3.85% 3.74% 4.48% 4.85% $25,867 169,178 4,000 58,998 100,000 135,750 41,000 32,600 567,393 (4,331) $563,062 $848,686 $2,646,437 $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 2Q 2018 20 Effective June 30, December 31, Date of Interest Rate (1 ) 2018 2017 Maturity

2018/2019 Debt Maturities $ in thousands Secured Debt lypA Balance at 2Q 2018 Maximum Loan Balance Date of Maturity Extension Option/ Prepayment LTV ‘(1)’ Consolidated Debt Residential Park Square Permanent Loan $25,867 N/A 4/10/2019 69.89% Signature Place Construction Loan 39,918 42,000 5/20/2019 One 1-year option 53.97% Portside 5/6 Construction Loan 67,088 73,000 9/29/2019 Two 1-year options 45.85% Marriott Hotels at Port Imperial Construction Loan 65,598 94,000 10/6/2019 Two 1-year options 45.04% RiverHouse 11 Construction Loan 60,107 78,000 11/24/2019 Two 1-year options 43.87% 145 Front at City Square Construction Loan 52.913 58,000 12/10/2019 Two 1-year options 50.05% Total Consolidated Residential $311,491 49.05% Total Consolidated Secured $311,491 49.05% Unconsolidated Debt Residential Shops at 40 Park Permanent Loan $6,103 8/13/2018 40.97% M2 Construction Loan 74.690 3/30/2019 Exercised second of four 3-month extension options 38.26% Total Unconsolidated Residential $80,793 38.47% Office Red Bank Corporate Plaza Permanent Loan $13.626 8/15/2018 58.41% Total Unconsolidated Office $13,626 58.41% Total Unconsolidated Secured $94,419 41.34% Total Secured Debt $405,910 47.25% Unsecured Debt 2016 Unsecured Term Loan $350.000 1/7/2019 Two 1-year options Total Unsecured $350,000 Notes: (1) Construction loan LTVs are calculated using the respective maximum loan balance. 2Q2018 Company Highlights

Unconsolidated Joint Ventures $ in thousands Ope ra ting Prope rtie s Residential Ma rbella M2 Metropolita n & Shops a t 40 Pa rk Metropolita n Lofts RiverTra ce a t Port Imperia l Crys ta l Hous e Riverpa rk a t Ha rris on Sta tion Hous e Urby Subtotal - Residential Office Red Ba nk Corpora te Pla za 12 Vreela nd Offices a t Crys ta l La ke Subtotal - Office Retail/Hotel Riverwa lk Reta il Hya tt Regency Jers ey City Subtotal - Retail/Hotel 412 311 130 59 316 825 141 378 762 3,334 97.3% 97.1% 96.9% 49.2% 99.1% 96.5% 94.3% 96.8% 99.3% 96.7% 24.3% 24.3% 12.5% 25.0% 22.5% 25.0% 45.0% 50.0% 85.0% 41.5% $2,411 2,104 969 (81) 1,806 2,758 361 1,897 4,016 $16,241 $95,000 74,690 42,533 13,105 82,000 164,464 30,000 99,296 191,732 $792,820 $1,558 1,294 618 (223) 1,148 1,455 84 700 1,525 $8,159 $585 510 121 (20) 406 690 162 949 3,414 $6,817 $23,057 18,127 5,317 3,276 18,450 41,116 13,500 49,648 162,972 $335,463 $378 314 77 (56) 258 364 38 350 1,296 $3,019 $369 316 9 (44) 255 351 32 331 1,234 $2,853 92,878 139,750 106,345 338,973 64.5% 100.0% 93.2% 88.1% 50.0% 50.0% 31.3% 44.1% 261 143 273 $677 13,626 8,705 4,439 $26,770 88 81 220 $389 131 72 84 $287 6,813 4,353 1,387 $12,553 44 41 69 $154 40 39 62 $141 30,745 351 58.0% 86.4% 85.5% 20.0% 50.0% 49.0% 144 4,380 $4,524 - 100,000 $100,000 144 3,463 $3,607 29 2,190 $2,219 - 50,000 $50,000 29 1,732 $1,761 3 1,695 $1,698 Total Operating 43.2% $21,442 $919,590 $12,155 $9,323 $398,016 $4,934 $4,692 Other Uncons olida ted JVs Total Unconsolidated JVs (2 ) 50.0% 43.7% $1,739 $23,181 - - $870 $10,193 - - $242 $4,934 $919,590 $12,155 $398,016 $4,934 Notes: *Variances from residential NOIs reported on page 37 result from inclusion of straight-lining. See supporting “Unconsolidated Joint Ventures” notes on page 42 Company Highlights 2Q 2018 22 Leased CLI's Nominal 2Q 2018 Total NOI After CLI Share CLI Share CLI NOI After CLI 2Q Property Units/SF Occupancy Ownership (1 ) GAAP NOI* Debt Debt Service of GAAP NOI of Debt Debt Service 2018 FFO

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 4,884,193 946,984 197,276 1,129,582 198,644 687,826 400,948 3,561,260 76.0% 49.4% 76.0% 95.7% 70.4% 70.8% 72.9% $36.62 47.46 37.73 35.89 40.72 38.61 $38.54 1 Gira lda Fa rms 7 Gira lda Fa rms 4 Ga teha ll Drive 9 Ca mpus Drive 325 Columbia Turnpike 200 Schultz Drive 201 Littleton Roa d 3600 Route 66 4 Ca mpus Drive 6 Ca mpus Drive 1 Sylva n Wa y 3 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 (3 ) 100 Overlook Center 5 Va ughn Drive 1 River Center 1 1 River Center 2 1 River Center 3 & 4 23 Ma in Street (3 ) 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 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 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 154,417 236,674 248,480 156,495 168,144 102,018 88,369 180,000 147,475 148,291 150,557 147,241 151,383 145,983 154,395 181,592 215,265 6,216 95,000 149,600 98,500 122,594 120,360 214,518 350,000 317,040 4,250,607 11,085,891 3,526,612 14,612,503 149,745 142,136 193,974 131,701 167,044 73,867 38,572 180,000 127,733 125,560 122,938 82,036 142,588 103,289 132,624 181,592 168,350 6,216 95,000 75,226 43,310 119,622 120,360 119,092 350,000 317,040 3,509,615 8,915,071 3,249,365 12,164,436 97.0% 60.1% 78.1% 84.2% 99.3% 72.4% 43.6% 100.0% 86.6% 84.7% 81.7% 55.7% 94.2% 70.8% 85.9% 100.0% 78.2% 100.0% 100.0% 50.3% 44.0% 97.6% 100.0% 55.5% 100.0% 100.0% 82.6% 80.4% 92.1% 83.2% $40.04 35.91 27.13 20.90 26.53 26.97 20.39 25.10 24.21 26.21 32.72 30.27 29.61 28.70 25.99 40.85 30.52 17.84 24.23 32.35 29.91 27.96 26.82 28.15 17.51 25.73 $27.64 $33.90 $18.46 $29.77 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 1,951,091 158,867 58,562 262,841 199,379 195,729 190,790 209,848 251,069 194,111 123,000 1,844,196 79.4% 86.1% 100.0% 99.7% 99.8% 97.5% 84.8% 96.3% 98.4% 100.0% 94.5% $29.10 25.16 32.49 31.92 35.09 33.55 35.52 51.85 40.86 42.46 $36.83 Notes: See supporting “Property Listing” notes on page 42 Office Portfolio 2Q 2018 25 Class A Suburban Avg. Base Rent Building Location Total SF Leased SF % Leased + Escalations (2 ) 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 (2 )

2018 Expirations by Building Asking rents on vacant space are on average 4.5% higher than expiring rents Suburban 2018 Expirations Current Building Location Total SF SF % Total In-Place Rent Asking Rent 1 Gira lda Fa rms 7 Gira lda Fa rms 4 Ga teha ll Drive 9 Ca mpus Drive Ma dis on, NJ Ma dis on, NJ Pa rs ippa ny, NJ Pa rs ippa ny, NJ 154,417 236,674 248,480 156,495 168,144 102,018 88,369 180,000 147,475 148,291 150,557 147,241 151,383 145,983 154,395 181,592 215,265 6,216 95,000 149,600 98,500 122,594 120,360 214,518 350,000 317,040 4,250,607 740,992 0 0 14,257 5,071 2,820 14,604 5,452 0 5,390 5,988 0 0 10,044 0 800 0 12,784 0 0 0 0 0 0 59,228 0 0 136,438 17.4% 0.0% 0.0% 5.7% 3.2% 1.7% 14.3% 6.2% 0.0% 3.7% 4.0% 0.0% 0.0% 6.6% 0.0% 0.5% 0.0% 5.9% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 27.6% 0.0% 0.0% 3.2% 0.00 0.00 $27.61 15.86 26.92 29.42 20.45 0.00 25.78 25.57 0.00 0.00 32.05 0.00 22.97 0.00 33.25 0.00 0.00 0.00 0.00 0.00 0.00 28.59 0.00 0.00 $28.16 $34.00 34.00 28.00 25.50 29.50 29.50 20.00 24.00 25.50 25.50 32.00 32.00 32.00 32.00 25.50 28.00 32.00 14.00 25.24 29.00 31.00 29.50 29.50 29.50 17.41 25.50 $28.88 325 Columbia Turnpike Florha m Pa rk, NJ 200 Schultz Drive 201 Littleton Roa d 3600 Route 66 4 Ca mpus Drive 6 Ca mpus Drive 1 Sylva n Wa y 3 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 1 River Center 1 1 River Center 2 1 River Center 3 & 4 23 Ma in Street 5 Wood Hollow Roa d Total Suburban Suburba n Va ca ncies 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 Pa rs ippa ny, NJ Ha milton, NJ Princeton, NJ Princeton, NJ Red Ba nk, NJ Red Ba nk, NJ Red Ba nk, NJ Holmdel, NJ Pa rs ippa ny, NJ Wa terfront Va ca ncies 1,322,933 27.1% Cla s s A Va ca ncies 106,895 5.5% Expiring SF by Quarter Total Core Office Portfolio Tota l Core Office Va ca ncies 11,085,891 2,170,820 313,085 19.6% 2.8% $36.81 $38.23 Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Total Core Portfolio 113,714 7,034 21,398 15,290 157,436 31,243 24,656 115,040 33,904 204,843 144,957 31,690 136,438 49,194 362,279 Flex Park Portfolio Flex Pa rk Va ca ncies 3,526,612 277,247 49,194 7.9% 1.4% $17.37 $19.67 Total Core Portfolio Tota l Core Va ca ncies 14,612,503 2,448,067 362,279 16.8% 2.5% $34.17 $35.71 Office Portfolio 2Q 2018 26 3Q 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 4,790 2.4% $29.37 2115 Linwood Avenue Fort Lee, NJ 68,000 8,852 13.0% 26.58 101 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% 34.93 343 Thorna ll Street Edis on, NJ 195,709 7,713 3.9% 30.00 150 JFK Pa rkwa y Short Hills , NJ 247,476 0 0.0% 0.00 51 JFK Pa rkwa y Short Hills , NJ 260,741 0 0.0% 0.00 101 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 31,690 1.6% $30.56 $30.00 26.50 35.00 35.00 35.00 35.00 42.00 55.00 42.00 42.00 $31.87 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 10,141 0.8% $40.33 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 977,225 118,618 12.1% 47.77 111 River Street Hoboken, NJ 566,215 9,500 1.7% 37.50 Total Waterfront 4,884,193 144,957 3.0% $46.33 $46.00 43.00 41.00 43.00 49.00 49.00 $48.42

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 June 30, 2018 Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotals Repos itioning Non-Core TOTALS 2 10 16 20 14,678 163,431 93,121 164,620 8,334 139,396 45,522 13,850 6,344 24,035 47,599 150,770 7,339 16,343 5,820 8,231 4.3 11.4 5.8 5.1 $45.52 28.70 28.31 20.97 $5.75 6.19 4.82 1.58 48 - 3 435,850 - 17,487 207,102 - 1,918 228,748 - 15,569 9,080 - 5,829 7.6 - 1.2 $26.26 - 23.61 $4.80 - 1.48 51 453,337 209,020 244,317 8,889 7.3 $26.16 $4.77 Notes: See supporting “Leasing Activity” notes on page 42 Office Portfolio 2Q 2018 27 Number of Total Sq. Ft. Sq. Ft. Renewed Average Weighted Avg. Wtd. Avg. Wtd. Avg. Costs Transactions Sq. Ft. New Leases and Other Retained Sq. Ft. Term (Yrs) Base Rent ($) (2 ) Sq. Ft. Per Year ($) Pct. Leased Impact of Impact of Pct. Leased Sq. Ft. Leased Sq. Ft. Leased Sq. Ft. 3/31/2018 Acquisition/Disposition Leasing Activity 6/30/2018 (1 ) Commercial Service Unleased 80.8% 0.0% (7.9%) 90.1% 0.0% 4.4% 82.5% 1.1% 0.1% 91.7% 0.0% 0.5% 85.2% 0.3% (1.9%) 62.6% 0.0% (1.9%) 83.9% 0.3% (1.9%) 72.9% 94.5% 82.6% 92.1% 83.2% 60.7% 82.0% 3,419,781 141,479 1,322,933 1,833,646 10,550 106,895 3,352,860 156,755 740,992 3,220,609 28,756 277,247 11,826,896 337,540 2,448,067 488,050 23,389 330,647 12,314,946 360,929 2,778,714

Leasing Rollforwards Rollforwards For the three months ended June 30, 2018 Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotals Repos itioning(1 ) Non-Core TOTALS 80.8% 90.1% 82.5% 91.7% 85.2% 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 - - - - - - - - - - 47,241 - - - 24,672 - (399,905) (77,685) (75,449) (148,016) (701,055) 14,678 163,431 93,121 164,620 435,850 (385,227) 85,746 17,672 16,604 4,884,193 1,951,091 4,250,607 3,526,612 14,612,503 3,561,260 1,844,196 3,509,615 3,249,365 12,164,436 72.9% 94.5% 82.6% 92.1% 83.2% - - 47,241 24,672 (265,205) 0.0% 62.6% 83.9% - 842,086 15,407,348 - 527,304 12,932,273 - - - - - - - - - (33,352) (734,407) - 17,487 453,337 - (15,865) - 842,086 15,454,589 - 511,439 12,675,875 - 60.7% 82.0% - - 47,241 24,672 (281,070) Rollforwards For the six months ended June 30, 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% 0.0% 73.7% 4,884,193 1,951,091 4,323,366 3,491,612 4,211,020 1,758,094 3,665,423 3,195,006 - - - - - - - - - - (72,759) 35,000 - - (95,328) 35,000 (700,774) (143,935) (170,930) (237,553) 51,014 230,037 110,450 256,912 (649,760) 86,102 (60,480) 19,359 4,884,193 1,951,091 4,250,607 3,526,612 14,612,503 - 842,086 15,454,589 3,561,260 1,844,196 3,509,615 3,249,365 12,164,436 - 511,439 12,675,875 72.9% 94.5% 82.6% 92.1% 83.2% - 60.7% 82.0% 14,650,262 - 2,460,040 12,829,543 - 1,812,836 - - - - - - (37,759) - (1,617,954) (60,328) - (1,216,948) (1,253,192) 648,413 - 70,809 (604,779) - (84,449) (155,258) 85.6% 17,110,302 14,642,379 - - (1,655,713) (1,277,276) (1,408,450) 719,222 (689,228) 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 2Q 2018 28 Pct. Sq. Ft. Inventory Leased Sq. Ft. Net Sq. Ft. 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 06/30/18 06/30/18 06/30/18 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 03/31/18 03/31/18 03/31/18 Reclassed Reclassed Disposed Disposed Adj. Sq. Ft. Sq. Ft. Activity 06/30/18 06/30/18 06/30/18

Top 15 Tenants MUFG Ba nk, Ltd.(2 ) John Wiley & Sons , Inc. Merrill Lynch Pierce Fenner Dun & Bra ds treet Corpora tion Montefiore Medica l Center Plymouth Rock Ma na gement Compa ny of NJ Da iichi Sa nkyo, Inc. TD Ameritra de Services Compa ny, Inc. DB Services New Jers ey, Inc. KPMG LLP, ICAP Securities USA, LLC Vona ge America , Inc. HQ Globa l Workpla ces , LLC Inves tors Ba nk Pfizer, Inc. Totals 1 1 3 2 7 2 1 1 1 2 2 1 7 2 1 11,465,968 11,244,488 10,936,585 7,412,320 7,327,505 6,720,029 6,663,417 6,632,175 6,295,800 5,036,557 4,699,088 4,637,500 4,516,179 4,383,791 4,306,008 3.4% 3.3% 3.2% 2.2% 2.1% 2.0% 2.0% 1.9% 1.8% 1.5% 1.4% 1.4% 1.3% 1.3% 1.3% 282,606 299,853 430,926 192,280 296,572 218,554 171,900 193,873 125,916 120,947 111,562 350,000 152,441 139,296 113,316 2.3% 2.4% 3.5% 1.6% 2.4% 1.8% 1.4% 1.6% 1.0% 1.0% 0.9% 2.8% 1.2% 1.1% 0.9% (3) (4) (5) 2023 (6) (7) 2022 2021 2019 (8) (9) 2023 (10) (11) 2024 102,277,410 30.1% 3,200,042 25.9% Notes: See supporting “Top 15 Tenants” notes on page 43 Office Portfolio 2Q 2018 29 Percentage of Annualized Company Square Percentage Year of Number of Base Rental Annualized Base Feet Total Company Lease Properties Revenue ($) (1 ) Rental Revenue (%)(2 ) Leased Leased Sq. Ft. (%) (2 ) 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: 8 7 17 15 47 13 60 144,957 31,690 136,438 49,194 362,279 66,358 428,637 1.2 0.3 1.1 0.4 3.0 0.5 3.5 6,176,694 936,684 3,656,750 821,393 11,591,521 1,637,170 13,228,691 42.61 29.56 26.80 16.70 32.00 24.67 30.86 1.8 0.3 1.1 0.2 3.4 0.5 3.9 11 27 32 58 128 9 137 208,654 253,037 439,802 533,868 1,435,361 67,462 1,502,823 1.7 2.1 3.6 4.3 11.7 0.5 12.2 9,573,861 7,866,870 12,186,436 10,478,240 40,105,407 1,806,064 41,911,471 45.88 31.09 27.71 19.63 27.94 26.77 27.89 2.8 2.3 3.6 3.1 11.8 0.5 12.3 8 25 26 45 104 15 119 70,779 226,832 164,276 319,512 781,399 41,766 823,165 0.6 1.8 1.3 2.6 6.3 0.4 6.7 2,604,950 7,841,837 4,063,033 5,837,220 20,347,040 1,079,954 21,426,994 36.80 34.57 24.73 18.27 26.04 25.86 26.03 0.8 2.3 1.2 1.7 6.0 0.3 6.3 15 15 21 36 87 9 96 366,455 123,636 189,589 277,681 957,361 93,913 1,051,274 3.0 1.0 1.5 2.3 7.8 0.7 8.5 12,998,657 5,322,656 5,371,614 4,474,707 28,167,634 2,396,568 30,564,202 35.47 43.05 28.33 16.11 29.42 25.52 29.07 3.8 1.6 1.6 1.3 8.3 0.7 9.0 13 12 30 40 95 8 103 260,067 145,359 259,850 324,321 989,597 53,773 1,043,370 2.1 1.2 2.1 2.6 8.0 0.5 8.5 8,165,444 4,590,998 6,883,718 5,744,081 25,384,241 1,386,837 26,771,078 31.40 31.58 26.49 17.71 25.65 25.79 25.66 2.4 1.3 2.0 1.7 7.4 0.4 7.8 See supporting “Expirations” notes on page 43 Office Portfolio 2Q 2018 30 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.) (2 ) Expiring Leases (%) Expiring Leases ($) (3 )(4 ) by Expiring Leases ($) 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 18 32 38 98 1 3 102 335,943 276,895 883,819 563,459 2,060,116 35,000 9,057 2,104,173 2.7 2.2 7.2 4.6 16.7 0.3 0.1 17.1 11,704,737 10,191,816 21,583,608 8,676,115 52,156,276 0 243,969 52,400,245 34.84 36.81 24.42 15.40 25.32 0.00 26.94 24.90 3.4 3.0 6.3 2.5 15.2 0.0 0.1 15.3 Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotal Non-Core TOTAL – 2024 AND THEREAFTER 51 33 58 64 206 15 221 1,999,641 774,267 1,279,086 1,150,124 5,203,118 155,721 5,358,839 16.2 6.3 10.4 9.3 42.2 1.3 43.5 67,663,898 28,030,895 33,751,270 21,609,603 151,055,666 3,987,062 155,042,728 33.84 36.20 26.39 18.79 29.03 25.60 28.93 19.8 8.2 9.8 6.4 44.2 1.2 45.4 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 116 137 216 296 765 1 72 838 3,386,496 1,831,716 3,352,860 3,218,159 11,789,231 35,000 488,050 12,312,281 27.5 14.9 27.2 26.1 95.7 0.3 4.0 100.0 118,888,241 64,781,756 87,496,429 57,641,359 328,807,785 0 12,537,624 341,345,409 35.11 35.37 26.10 17.91 27.89 0.00 25.69 $27.72 34.8 19.0 25.6 16.9 96.3 0.0 3.7 100.0 Notes: See supporting “Expirations” notes on page 43 Office Portfolio 2Q 2018 31 Percentage of Total Average Annualized Base Net Rentable Area Leased Square Feet Annualized Base Rent Per Net Rentable Percentage of Annual Number of Subject to Expiring Represented by Rental Revenue Under Square Foot Represented Base Rent Under Leases Expiring (1 ) Leases (Sq. Ft.) (2 ) Expiring Leases (%) Expiring Leases ($) (3 )(4 ) by Expiring Leases ($) Expiring Leases (%) Percentage of Total Average Annualized Base Net Rentable Area Leased Square Feet Annualized Base Rent Per Net Rentable Percentage of Annual Number of Subject to Expiring Represented by Rental Revenue Under Square Foot Represented Base Rent Under Leases Expiring (1 ) Leases (Sq. Ft.) (2 ) Expiring Leases (%) Expiring Leases ($) (3 )(4 ) by Expiring Leases ($) Expiring Leases (%)

Roseland Highlights Roseland (RRT) manages a dynamic portfolio of operating and under construction assets, with an enviable land pipeline primarily in high-income, transit oriented 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: 2Q 2018 NAV was approximately $1.79B, comprised of $232M of Rockpoint equity and $1.56B of MC equity ($15.46/MC share) Lease-Up Communities 2017: stabilized 1,162 apartments Adam Freindlich! Lease-Up Communities 2018: in 2Q, commenced leasing activities at Portside 5/6 at East Pier (296 units) and RiverHouse 11 (295 units), as well as continued momentum on 1Q deliveries at Signature Place (197 units), Metropolitan Lofts (59 units) and 145 Front Street (365 units) As of July 30, our lease-up portfolio—solely from 2018 deliveries of 1,212 units—was 51.2% leased Upon closing on the acquisition of Prudential’s membership interest in Marbella, Roseland’s subordinate interests will have been reduced to 130 apartments, (a 96% reduction compared to 3,025 units at year-end 2015) Continued efforts to redevelop underperforming office holdings to higher valued residential use (i.e. Signature Place in Morris Plains, NJ; 6 Becker Farm in Roseland, NJ) Rockpoint has an additional $85M capital commitment to Roseland Pipeline of 10,668 units of strategically located land holdings includes 4,807 units in Jersey City and 1,591 units in Port Imperial—nearly all with zoning in place We forecast continued growth in residential NOI after debt service from completion of our 2,001 unit/key in-construction portfolio coupled with stabilization of our lease-up portfolio Operating & Construction Apts. (projected) Future Development Apts. % Growth in Operating & Construction Units 8,083 10,668 - 9,327 9,424 15.4% 10,996 7,755 17.9% Roseland Residential 2Q 2018 33 2Q 2018YE 2018YE 2019

Development Avtivity and cash flow Growth $ in millions (unaudited) 2017 Deliveries Urby Ha rbors ide Cha s e II a t Overlook Ridge Qua rry Pla ce a t Tucka hoe Total 2017 Lease-Ups 85.0% 100.0% 100.0% 90.2% 99.2% 98.6% 97.2% 98.9% 1Q 2017 4Q 2016 4Q 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 2018 Deliveries 1Q 2018 Deliveries Signa ture Pla ce a t Morris Pla ins Lofts a t 40 Pa rk 145 Front Street a t City Squa re (1 ) Total 1Q 2018 Deliveries 100.0% 25.0% 100.0% 100.0% 58.4% 61.0% 35.9% 45.4% 1Q 2018 1Q 2018 1Q 2018 197 59 365 621 6.68% 6.72% 6.29% 6.45% $3.9 1.2 5.9 $11.0 $2.2 0.3 3.6 $6.1 2Q 2018 Deliveries Ports ide 5/6 Total 2Q 2018 Deliveries 100.0% 100.0% 56.1% 56.1% 2Q 2018 296 296 6.40% 6.40% 7.1 $7.1 4.2 $4.2 3Q 2018 Deliveries RiverHous e 11 a t Port Imperia l Total 3Q 2018 Deliveries 100.0% 100.0% 58.6% 58.6% 3Q 2018 295 295 6.31% 6.31% $7.7 $7.7 $4.7 $4.7 4Q 2018 Deliveries Ma rriott Hotels a t Port Imperia l Total 4Q 2018 Deliveries 90.0% 90.0% 4Q 2018 372 372 10.03% 10.03% $14.3 $14.3 $9.5 $9.5 2020 Deliveries Port Imperia l - Building 8/9 PI North – Riverwa lk C Total 4Q 2020 Deliveries 100.0% 40.0% 67.9% 4Q 2020 4Q 2020 313 360 673 6.43% 5.98% 6.19% $9.0 11.2 $20.2 $4.8 2.6 $7.4 (2 ) Total In-Construction 88.8% 2,257 6.94% $60.3 $31.9 Notes: See supporting “Development Activity and Cash Flow Growth” notes on page 43. Roseland Residential 2Q 2018 34 Total 89.3% 3,419 6.84% $86.8 $45.6 ProjectedProjected RRT RRT Nominal % Leased As of: Actual/Projected Projected Total Share of Stabilized Ownership As of 7/30/2018 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 $138,797 918,446 32,042 286,691 419,967 $133,487 782,556 26,193 272,622 478,812 1,795,943 (68,580) 1,727,363 1,693,670 (55,087) 1,638,583 2,634 1,729,997 2,634 1,641,217 19,326 6,108 6,393 232,199 1,037 45,140 2,387 6,053 237,321 1,248 42,974 2,787 $2,036,479 $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 $848,686 - 63,079 4,639 2,228 $769,743 24,924 79,034 3,870 1,481 918,632 879,052 231,891 18,856 867,100 159,884 19,069 879,703 $2,036,479 $1,937,708 Roseland Residential 2Q 2018 35 2Q 2018 4Q 2017

Roseland Income Statement $ in thousands (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 $17,132 695 3,970 2,306 677 $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 Total revenues $24,780 $23,860 $24,280 $24,823 $24,117 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 $3,239 1,142 4,467 4,292 3,054 7,281 $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 Total expenses $23,475 $22,853 $24,260 $27,786 $27,102 Operating Income $1,305 $1,007 $20 ($2,963) ($2,985) 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) ($2,668) 3 (961) - - - ($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) - - - ($3,626) $229 ($3,583) ($3,228) ($5,262) Net income (loss) ($2,321) $1,236 ($3,563) ($6,191) ($8,247) Noncontrolling interes t in cons olida ted joint ventures Redeema ble noncontrolling interes t Net income (loss) available to common shareholders $95 (2,534) $118 (2,344) $104 (2,227) $67 (2,227) $165 (2,227) ($4,760) ($990) ($5,686) ($8,351) ($10,309) Roseland Residential 2Q 2018 36 2Q 2018 1Q 2018 4Q 2017 3Q 2017 2Q 2017

Operating & Lease-Up Communities $ in thousands, except per home 2Q 2018 Percentage Leased (Stabilized): 97.5% 2Q 2018 Avg. Revenue Per Home (Stabilized): $2,670 Notes: See supporting “Operating & Lease-Up Communities” notes on page 43 Roseland Residential 2Q 2018 37 RentableAvg.Year Operating Communities Location Ownership Apartments SF Size Complete Cons olida te d Alterra a t Overlook Ridge Revere, MA 100.00% 722 663,139 918 2008 The Cha s e a t Overlook Ridge Ma lden, MA 100.00% 664 598,161 901 2014 Pa rk Squa re (1 ) Ra hwa y, NJ 100.00% 159 184,957 1,163 2009 Riverwa tch New Bruns wick, NJ 100.00% 200 147,852 739 1997 Mona co Jers ey City, NJ 100.00% 523 475,742 910 2011 Ports ide a t Ea s t Pier - 7 Ea s t Bos ton, MA 100.00% 175 156,091 892 2015 Qua rry Pla ce a t Tucka hoe Ea s tches ter, NY 100.00% 108 105,509 977 2016 Consolidated 100.00% 2,551 2,331,451 914 Joint Ve nture s RiverTra ce a t Port Imperia l Wes t New York, NJ 22.50% 316 295,767 936 2014 M2 Jers ey City, NJ 24.27% 311 273,132 878 2016 RiverPa rk a t Ha rris on Ha rris on, NJ 45.00% 141 125,498 890 2014 Urby a t Ha rbors ide (2 ) Jers ey City, NJ 85.00% 762 474,476 623 2017 Sta tion Hous e Wa s hington, DC 50.00% 378 290,348 768 2015 Joint Ventures 54.86% 1,908 1,459,221 765 Subordina te Inte re s ts (3 ) Ma rbella Jers ey City, NJ 24.27% 412 369,515 897 2003 Metropolita n a t 40 Pa rk Morris town, NJ 12.50% 130 124,237 956 2010 Subordinate Interests 21.45% 542 493,752 911 Operating Highlights Average Average Percentage Percentage Revenue Revenue Leased Leased Per Home Per Home NOI NOI NOI Debt 2Q 2018 1Q 2018 2Q 2018 1Q 2018 2Q 2018 1Q 2018 YTD 2018 Balance 97.5% 97.0% $1,974 $1,950 $2,450 $2,421 $4,871 $100,000 97.6% 97.4% 2,134 2,091 2,484 2,341 4,825 135,750 94.3% 97.5% 2,103 2,022 455 834 1,289 25,867 95.5% 97.0% 1,795 1,781 409 400 809 0 97.1% 96.7% 3,369 3,495 3,534 3,517 7,051 165,000 98.3% 98.9% 2,721 2,745 1,050 960 2,010 58,998 98.1% 97.2% 3,226 3,164 585 431 1,016 41,000 97.2% 97.2% $2,400 $2,401 $10,967 $10,904 $21,871 $526,615 99.1% 97.5% $3,153 $3,181 $1,807 $1,801 $3,608 $82,000 97.1% 96.5% 3,519 3,504 2,034 1,966 4,000 74,690 94.3% 97.2% 2,203 2,191 375 391 766 30,000 99.3% 97.8% 2,717 2,751 4,496 4,360 8,856 191,732 96.8% 97.9% 2,677 2,760 1,918 2,049 3,967 99,296 98.0% 97.5% $2,874 $2,905 $10,630 $10,567 $21,197 $477,718 97.3% 96.8% $3,189 $3,167 $2,412 $2,570 $4,982 $95,000 96.9% 98.5% 3,331 3,415 745 818 1,563 36,429 97.2% 97.3% $3,223 $3,226 $3,157 $3,388 $6,545 $131,429 Total Residential - Stabilized 74.26% 5,001 4,284,424 857 97.5% 97.3% $2,670 $2,683 $24,754 $24,859 $49,613 $1,135,762 Lease-up / Repositions Cons olida te d Signa ture Pla ce a t Morris Pla ins Morris Pla ins , NJ 100.00% 197 203,716 1,034 2018 Consolidated 100.00% 197 203,716 1,034 Joint Ve nture s Crys ta l Hous e Arlington, VA 25.00% 825 738,786 895 1962 Metropolita n Lofts Morris town, NJ 25.00% 59 54,683 927 2018 Joint Ventures 25.00% 884 793,469 898 50.8% 13.7% NA NA ($182) NA ($182) $39,918 50.8% 13.7% $0 $0 ($182) $0 ($182) $39,918 96.5% 93.5% $2,053 $2,095 $2,772 $3,178 $5,950 $164,464 49.2% 0.0% NA NA (79) NA (79) 13,105 93.3% 87.2% $2,053 $1,955 $2,693 $3,178 $5,871 $177,569 Total Residential - Operating Communities (4 ) 67.94% 6,082 5,281,609 868 95.39% 93.15% $2,494 $2,490 $27,265 $28,037 $55,302 $1,353,249 Total Commercial 76.71% 733,232 84.89% 84.33% $1,160 $1,036 $2,196 $42,703

In-Construction Communities $ in thousands Roseland’s share of projected stabilized NOI after debt service will approximate $30.3 million (approximates to FFO) Project Capitalization - Total Capital as of 2Q 2018 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 Ports ide 5/6 RiverHous e 11 a t Port Imperia l Building 8/9 a t Port Imperia l (3 ) Consolidated Joint Ve nture s Weeha wken, NJ Worces ter, MA Ea s t Bos ton, MA Weeha wken, NJ Weeha wken, NJ 90.00% 100.00% 100.00% 100.00% 100.00% 97.73% 372 365 296 295 313 1,641 142,500 94,518 111,389 121,258 142,568 $612,233 94,000 58,000 73,000 75,213 92,000 $392,213 44,590 36,518 38,389 46,045 50,568 $216,110 3,910 0 0 0 0 $112,098 89,171 105,477 101,682 31,335 $439,763 $65,598 52,913 67,088 60,107 0 $42,590 36,258 38,389 41,575 31,335 $190,147 3Q 2015 3Q 2015 4Q 2015 1Q 2016 3Q 2018 4Q 2018 1Q 2018 2Q 2018 3Q 2018 4Q 2020 4Q 2019 3Q 2019 1Q 2019 3Q 2019 4Q 2021 14,291 5,870 7,563 8,000 9,028 $44,752 10.03% 6.21% 6.79% 6.60% 6.33% 7.27% $3,910 $245,706 PI North - Riverwa lk C Joint Ventures Wes t New York, NJ 40.00% 40.00% 360 360 186,500 $186,500 112,000 $112,000 29,800 $29,800 44,700 $44,700 51,328 $51,328 0 20,553 $20,553 4Q 2017 4Q 2020 1Q 2022 11,150 $11,150 5.98% 5.98% $0 (4 ) Total In-Construction Communities 87.35% 2,001 $798,733 $504,213 $245,910 $48,610 $491,091 $245,706 $210,700 $55,902 7.04% 2018 MCRC Rema ining Ca pita l 2019 MCRC Rema ining Ca pita l 2020 MCRC Rema ining Ca pita l Total Remaining Capital $106,643 127,140 73,859 $307,642 $66,199 118,449 73,859 $258,507 $26,842 8,368 0 $35,210 7/30/18 % Leased 2Q 2018 NOI Lease-up Communities Units 145 Front a t City Squa re Signa ture Pla ce Ports ide 5/6 Metropolita n Lofts RiverHous e 11 a t Port Imperia l Total 365 197 296 59 295 1,212 35.9% 58.4% 56.1% 61.0% 58.6% 51.2% ($279) (182) (152) (79) - ($692) Notes: See supporting “In-Construction Communities” notes on page 43 Roseland Residential 2Q 2018 39

Future Start Communities As of June 30, 2018, the Company had a future development portfolio of 10,668 residential units 2018/2019 priority starts of 2,673 are located in close proximity to operating RRT assets Current 2018/2019 Priority Starts Location Short Hills, NJ Malden, MA Jersey City, NJ Jersey City, NJ Jersey City, NJ Apartments 200 326 718 750 679 2,673 Ownership 100.00% 100.00% 100.00% 85.00% 100.00% 95.79% Target Start 233 Canoe Brook Road – Residential Chase III 25 Christopher Columbus Drive Urby at Harborside - II Plaza 8 2018/2019 Total Priority Starts 3Q 2018 3Q 2018 4Q 2018 2019 2019 2018/2019 Possible Starts Portside 1-4 6 Becker Farm 233 Canoe Brook Road - Hotel 1 Water Street 2018/2019 Total Possible Starts East Boston, MA Roseland, NJ Short Hills, NJ White Plains, NY 300 299 240 304 1,143 100.00% 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/V Subtotal - Boston Metro 514 Crystal House Crystal House Subtotal - Washington, DC 552 51 Washingto 2,673 1,143 10,668 150 Monument Road Bala Cynwyd, PA 206 Subtotal - Notes: See supporting “Future Start Communities” notes on page 43 Roseland Residential 2Q 2018 40 Freehold, NJ 400 (repurposing) Parsippany, NJ 345 urposing IIIA Essex County, NJ 140 urposing IIIB Essex County, NJ 140 ortheast Corridor 1,025 Malden, MA215 Malden, MA299 - 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 Priority 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 2,001 units Complete Roseland’s funding requirement for 2018/2019 Priority Starts comprising 2,673 units i. ii. USE: In Construction Portfolio (Remaining Capital) Comment Repres ents rema ining requirements for the in cons truction portfolio s umma rized on Pa ge 40 Repres ents third pa rty ca pita l commitments (Riverwa lk C) In Cons truction Portfolio 2,001 $307,642 $258,507 $49,135 Les s : Exis ting JV Pa rtner Commitments Remaining Roseland Capital USE: Priority 2018 Start (remaining) (13,925) $35,210 A Repres ents three Proba ble s ta rts through the end of the yea r 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 (~$54,000/unit) Priority 2018 Sta rts 1,244 $631,600 $409,253 $222,000 Les s : La nd Equity/Fundings to Da te Roseland Capital Obligation USE: Priority 2019 Starts (77,000) $145,000 B Priority 2019 Sta rts Les s : La nd Equity/Fundings to Da te Two Jers ey City towers 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) 1,429 $707,976 $441,606 $266,000 (78,000) Les s : Exis ting JV Pa rtner Commitments Roseland Capital Obligation (23,000) $165,000 C A+B+C SOURCE: Capital Availability Comment Repres ents the ba la nce on Rockpoint's $300M commitment Repres ents exces s refina ncing proceeds upon ta keout fina ncing on cons truction portfolio (excludes Riverwa lk C a nd 8/9) 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 Priority Sta rts Rockpoint Ca pita l Cons truction Refina ncings $85,000 100,000 Dis pos itions 165,000 New Project-level Joint Ventures 136,000 2018/2019 Start Excess Capital Source Potential (1 ) Notes: (1) Represents capital sources prior to reinvestment of Roseland cash flow generation and 1031 proceeds. Roseland Residential 2Q 2018 41 $140,790 Total Roseland Capital Sources $486,000 Total Roseland Capital Uses 4,674 $345,210 Construction Capital Units Total Cost Debt Requirement

Appendix Key Financial Metrics - (Page 6) $ in thousands (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. (3) Without annualizing the proceeds from the Urby tax credit, the net debt to EBITDA ratio was 9.0x. Balance Sheet - (Page 11) (1) Includes land held for future development of $212,010 for Office/Corp. and $286,691 for Roseland as of 2Q 2018. (2) Includes mark-to-market lease intangible net assets of $96,763 and mark-to-market lease intangible net liabilities of $44,747 as of 2Q 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 2Q 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 2.09 percent as of June 29, 2018, plus the applicable spread. (3) Excludes amortized deferred financing costs primarily pertaining to the Company’s unsecured revolving credit facility which amounted to $836 thousand for the three months ended June 30, 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) Senior unsecured debt is rated BBB-/Ba1/BB+ by S&P, Moody’s and Fitch respectively. (3) Cost of terminated treasury lock agreements (if any), offering and other transaction costs and the discount/premium on the notes, as applicable. (4) 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. 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 Property Listing - (Page 25) 2Q 2018 $52 4,934 4,987 (84) $4,903 (1) Excludes non-core holdings targeted for sale at 842,086 SF; excludes consolidated repositionings taken offline totaling 465,860 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 June 2018 billings times 12. For leases whose rent commences after July 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. (3) Average base rents + escalations reflect rental values on a triple net basis. Leasing Activity - (Page 27) (1) Percentage leased values reflect both Plymouth Rock Management Co.’s recently executed lease at 581 Main Street as well as its lease at 1 River Center 3, of which 59,228 sf is expiring 11/10/18 and 29,540 sf is expiring 2/10/19. Suburban percentage leased excluding the 88,768 sf leased to Plymouth Rock would be 80.5%. (2) Inclusive of escalations. 2Q 2018 42

Appendix - Continued Top 15 Tenants - (Page 29) (1) Annualized base rental revenue is based on actual June 2018 billings times 12. For leases whose rent commences after July 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) Represents the percentage of space leased and annual base rental revenue to commercial tenants only. (3) 45,256 square feet expire in 2019; 237,350 square feet expire in 2029. (4) 9,500 square feet expire in 2018; 290,353 square feet expire in 2033. (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) 59,228 square feet expire in 2018; 29,540 square feet expire in 2019; 129,786 square feet expire in 2031. (8) 66,606 square feet expire in 2024; 54,341 square feet expire in 2026. (9) 90,450 square feet expire in 2018; 21,112 square feet expire in 2025. (10) 19,485 square feet expire in 2019; 17,855 square feet expire in 2021; 38,930 square feet expire in 2023; 40,368 square feet expire in 2024; 20,395 square feet expire in 2026; 15,408 square feet expire in 2027. (11) 56,360 square feet expire in 2019; 82,936 square feet expire in 2026. Expirations - (Pages 30-31) (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) Reconciliation to Company’s total net rentable square footage is as follows: Square Feet 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) 12,314,946 360,929 2,778,714 15,454,589 (3) Annualized base rental revenue is based on actual June 2018 billings times 12. For leases whose rent commences after July 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. (4) Includes leases in effect as of the period end date, some of which have commencement dates in the future, and leases expiring June 30, 2018 aggregating 24,708 square feet and representing annualized base rent of $644,233.44 for which no new leases were signed. Development Activity and Cash Flow Growth - (Page 34) (1) Roseland delivered Phase I (237 units) in 1Q 2018 and envision completion of Phase II (128 units) in 3Q 2018. (2) Projected stabilized yield without the Marriott Hotels at Port Imperial is 6.36 percent. Operating & Lease-up Communities - (Page 37) (1) 1Q 2018 NOI affected favorably by one-time tax settlement of $405 thousand. Excluding the settlement, 1Q 2018 NOI would have been $429 thousand. (2) Excludes proceeds from the $2.6 million dollar tax credit in 1Q 2018. (3) As of June 30, 2018 Priority Capital included Marbella at $7,567 (Prudential) (under contract); Metropolitan at $20,914 (Prudential). (4) Excludes approximately 83,083 SF of ground floor retail. In-Construction Communities - (Page 39) (1) Represents maximum loan proceeds. (2) Represents development costs funded with debt or capital as of June 30, 2018. (3) The maximum loan balance presented is the anticipated debt and as no formal agreement has been signed, may be subject to change. (4) Projected stabilized yield without the Marriott Hotels at Port Imperial is 6.36 percent. Future Start Communities - (Page 40) (1) Currently approved for approximately 290,000 square feet of office space. (2) Roseland has signed an acquisition agreement, subject to certain conditions. 2Q 2018 43

Global Definitions Average Revenue Per Home: Calculated as total apartment revenue for the quarter ended Predevelopment Communities: Communities where the Company has commenced June 30, divided by the average percent occupied for the quarter ended June 30, 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. 2Q 2018 44

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 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 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 Citigroup Mi cha el Bi l erma n Green Street Advisors Da nny I s ma i l SunTrust Robinson Humphrey, Inc. Mi cha el R. Lewi s Barclays Capital Ros s L. Smotri ch Deutsche Bank North America Derek Johns on, Mi ke Hus s ei ni JP Morgan Anthony Pa ol one BTIG, LLC Thoma s Ca therwood Evercore ISI Steve Sa kwa Stifel Nicolaus & Company, Inc. John Gui nee 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 2Q 2018 45

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 June 30, 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. 2Q 2018 46