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 high barrier-to-entry 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 $5.3 bi l l i on $3.7 bi l l i on $43.3 mi l l i on $0.43 $29.8 mi l l i on $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 Mack-Cali’s office portfolio strives to achieve the highest possible rents in select 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 15.2 mi l l i on 122 84.2% 81.3% 30.9% 9.9% $30.54 15.5 mi l l i on 125 83.2% 81.1% 16.5% 7.5% $30.29 Residential Portfolio Opera ti ng Uni ts (Incl . Opera ti ng Lea s e-Ups ) % Lea s ed (Excl . Lea s e-Up) Avera ge Rent Per Uni t (Excl . Lea s e-Up) In-Cons tructi on & Lea s e-Up Uni ts /Keys 6,615 96.4% $2,659 1,794 6,082 97.5% $2,670 2,001 Urby Harborside, Jersey City, NJ Company Highlights 3Q 2018 4 3Q 20182Q 2018

Company Achievements 3Q 2018 Performance Highlights • • • • • Achieved Core FFO of $43.3 million, or $0.43 per share Produced AFFO of $29.8 million Office: Leased 833,840 square feet of office space; finished 3Q 2018 at 84.2% leased (excluding non-core) Residential: The operating portfolio, excluding lease-up and repositioning properties, finished 3Q at 96.4% leased Commenced construction on Building 9 at Port Imperial, a 313-unit community in close proximity to the ferry terminal and adjacent to the successful RiverHouse 11 Commenced construction on Chase III at Overlook Ridge, a 326-unit development that is the newest phase of our master-planned community in Malden, MA and adjacent to 1,386 stabilized Roseland units • 3Q 2018 Lease-Ups/Deliveries • In July, commenced leasing activities at RiverHouse 11, a 295-unit project in our Port Imperial master-planned community. The property experienced unprecedented velocity in its lease-up and as of October 29, the project was 95.6% leased (282 units) In July, commenced leasing activity at the second phase of 145 Front at City Square, 128 units of the 365-unit development in Worcester, MA. As of October 29, Phase II was 15.6% leased In 3Q 2018, continued strong leasing activity at its other 2018 deliveries. As of October 29, the projects are leased as follows: Monaco, Jersey City, NJ • • • • • • Portside 5/6 at East Pier, a 296-unit continuation of our East Boston master-planned community: 73.3% leased 145 Front at City Square - Phase I: 66.7% leased (combined Phase I & II 365 units 48.8% leased) Signature Place, a 197-unit development in Morris Plains, NJ: 85.8% leased Metropolitan Lofts, a 59-unit development in Morristown, NJ: 94.9% leased Transaction Activity • Marbella Transaction: •On August 2, 2018, the Company acquired Prudential’s membership interest in Marbella, thereby converting its subordinate interest into a controlling interest, for approximately $65.6 million, or approximately $37.4 million net of refinancing proceeds. The acquisition was funded by a $131 million refinancing and Rockpoint capital Office Sales: 1 & 3 Barker, 600 Horizon for proceeds totaling $31.7M Office Financing: Red Bank $14M Loan The Company has entered into an agreement to sell Park Square. The transaction is expected to close in 4Q 2018 • • • 150 JFK Pkwy, Short Hills, NJ Company Highlights 3Q 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 0.43 (0.05) $2,445,549 2,137,674 255,551 52,324 43,243 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 21,003 21,033 18,998 Tota l De bt, Ne t Tota l Ma rke t Ca pi ta l i za ti on Shares and Units: 2,776,776 5,296,510 2,646,436 4,990,263 2,615,211 4,530,061 2,809,568 5,206,419 2,839,186 5,446,619 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 ) : 90,307,280 10,241,849 100,549,129 100,711,806 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 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: $21.26 21.67 18.92 0.20 $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 (3) 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 10.0x 8.9x 8.3x 15.8x 10.9x 3.3x 2.2x 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 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 Tota l De bt/ Tota l Ma rke t Ca pi ta l i za ti on 53.0% 53.0% 57.7% 56.7% 52.1% Tota l De bt/ Tota l Book Ca pi ta l i za ti on 55.6% 54.5% 54.3% 54.0% 56.8% Tota l De bt/ Tota l Unde pre ci a te d As s e ts 45.8% 44.6% 44.5% 46.5% 46.2% Se cure d De bt/ Tota l Unde pre ci a te d As s e ts Notes: See supporting “Key Metrics” notes on page 43. 22.3% 20.6% 20.1% 23.5% 22.0% Company Highlights 3Q 2018 6 3Q 20182Q 20181Q 20184Q 20173Q 2017

$ in millions (except per share amounts) Net Asset (Unaudited) Value 103 Notes: See footnotes and “Information About Net Asset Value (NAV)” on pages 9 and 10. Company Highlights 3Q 2018 7 Total Mack-Cali NAV $3,667 $4,157 $3,189 Approximate NAV / Share (100.7MM shares) (1 4 ) $36.42 $41.28 $31.67 NAV Calculation (2 ) High Low $1,739 $1,361 513 427 657 585 594 510 $3,503 $2,883 59 59 35 35 90 90 56 56 39 39 103 103 39 39 $3,924 $3,304 (1,447) (1,447) (53) (53) Rentable SF/ Projected 2018 Cap Rate Apt Units Cash NOI (1 ) Office Portfolio MSF Huds on Wa terfront (Jers ey City, Hoboken) 4.884 $84.7 4.8% Cla s s A Suburba n (Metropa rk, Short Hills ) 1.951 41.0 6.9% Suburba n 4.136 54.0 8.7% Flex Pa rks 3.527 35.9 6.5% Subtotal (1 )(4 ) 14.498 $215.6 Non-Core (5 ) 0.709 Hotel a nd Other JV Interes ts (6 ) Ha rbors ide Pla za 4 Wegma n's & Reta il (1 )(7 ) La nd (8 ) Repos itioning Properties (9 ) 1031 Ba la nces & Other Receiva bles (a t cos t) Office - Asset Value 15.207 Les s : Office Uns ecured Debt Les s : Office Preferred Equity/LP Interes ts Gross Asset Gross Per SF / Value Unit (1 0 ) (A) $1,780 $364 592 303 619 150 549 156 $3,540 $244 59 201 90 56 39 103 39 $4,127 Property Third Party Discounting Debt Interests (1 3 ) (B) (C) (D) ($250) $0 $0 (125) 0 0 0 0 0 0 0 0 ($375) $0 $0 0 0 0 (129) (37) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ($504) ($37) $0 Net Asset Value (A-B-C-D) $1,530 467 619 549 $3,165 59 35 90 56 39 39 $3,586 (1,447) (53) Total Office NAV 15.207 $2,086 $2,424 $1,804 Residential Portfolio Units Opera ting Properties - Wholly Owned 3,281 $62.0 4.9% Opera ting Properties - JVs (1 0 ) 3,334 79.7 4.7% In-Cons truction Properties (1 1 ) 1,794 51.8 5.2% La nd (8 ) 9,624 Fee Income Bus ines s , Ta x Credit, & Exces s Ca s h Residential - Asset Value (1 3 ) 18,033 Les s : Rockpoint Interes t Plus : Additiona l Res identia l Holdings 718 $1,274 $388 1,682 504 993 554 485 50 17 $4,451 96 134 ($679) $0 ($2) (864) (412) (5) (456) (93) (100) 0 (100) 0 0 0 0 ($1,999) ($605) ($107) $593 401 344 385 17 $1,740 $659 $529 447 318 373 306 404 366 17 17 $1,900 $1,536 (255) (268) (242) 0 0 0 96 101 91 Total Residential NAV 18,751 $4,547 ($1,999) ($605) ($107) $1,581 $1,733 $1,385 Net Value Range (3 )

Notes: Net Asset Value (Unaudited) (1) Reflects Projected 2018 Cash NOI for office assets; projected 12-month NOI for stabilized residential assets and the projected stabilized NOI for residential assets in development and lease-up. See Information About Net Operating Income on page 46. NAV is generally arrived at by calculating the estimated gross asset values for each of the Company’s real estate properties, investments and other significant assets and interests, and then deducting from such amounts the corresponding net debt and third parties’ interests in the assets. Gross asset values for stabilized operating multi-family real estate properties are calculated using the direct capitalization method by dividing projected net operating income for the next one year period by an estimated market capitalization rate for each property. Gross asset values for operating office properties are presented by dividing projected net operating income for the next one year period by an estimated year one imputed capitalization rate for each property. See Footnote 4 for a more detailed description of the methodology used by management to estimate gross asset values for its operating office properties. Management projects net operating income that it expects to receive for future periods from a combination of in-place lease contracts, prospective renewals of expiring leases and prospective lease-up of vacant space. Market capitalization rates are estimated for each property based on its asset class and geographic location and are based on information from recent property sale transactions as well as from publicly available information regarding unrelated third party property transactions. The value range is determined by adding or subtracting 0.50% to the year 1 cap rate for office properties and 0.25% to the year 1 cap rate for residential properties. Property cash flows have been reduced by credit loss reserves, leasing and base building capital expenditures, including Harborside renovations. The Waterfront valuation includes $80 million in capital for the Harborside renovations. Additionally, the analysis includes approximately $88 million in base building capital during the first three years of the five year discounted cash flow. The capital is allocated to physical building improvements and is estimated $40 million at the Waterfront, $28 million in the Class A Suburban, and $20 million in the Suburban portfolio’s, respectively. Furthermore, the analysis includes $10 million in leasing capital budgeted in each of the Waterfront, Class A Suburban and Suburban portfolios. This is in addition to the tenant improvements, leasing commissions and capital reserves budgeted. (2) (3) (4) Office Huds on Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotal 4.884 1.951 4.136 3.527 14.498 $84.70 41.00 54.00 35.90 $215.60 4.76% 6.93% 8.72% 6.54% $38.85 36.99 27.89 18.57 $30.54 $45.44 39.10 27.69 19.67 $33.25 92.00% 92.50% 88.00% 94.00% 6.00% 7.00% 8.00% 7.00% 7.00% 8.00% 9.00% 8.00% $1,780 $592 $619 $549 $3,540 $364 303 150 156 $244 The year one cap rate, applied to the Projected 2018 Cash NOI, 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. See Information About Net Operating Income on page 46. 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. Valuations for non-core assets, which are those assets being considered for sale or disposal, or in the active marketing process, are generally based on recent contract prices for similar properties in the process of being sold, letters of intent and ongoing negotiations for properties. Includes the Company's ownership interests in the Hyatt Regency Jersey City and three office joint venture properties. Wegman’s $36 million asset value calculated using $1.6 million projected 2018 cash NOI capped at 4.5%. 24 Hour Fitness $20 million asset value calculated using $1 million projected cash NOI capped at 5%. See Information About Net Operating Income on page 46. (5) (6) (7) 3Q 2018 9 Rentable Projected Market Stabilized Area 2018 Year 1 Cap In-Place Rent Occupancy Stabilized Unlevered (MSF) Cash NOI Rate Rent PSF PSF Rate Cap Rate IRR Value $ PSF

Notes: Net Asset Value (Unaudited) 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. (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 (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. Joint venture investments are generally valued by: applying a capitalization rate to projected NOI 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. Includes Roseland’s last residential subordinate interest (Metropolitan at 40 Park) and commercial subordinate interests. The valuation approach for assets in-construction or lease-up are similar to that applied to assets undergoing repositioning/repurposing, as described above. After applying an estimated capitalization rate, currently ranging from 4.5% to 5.25%, to a projected stabilized net operating income, estimated to total approximately $50.8 million upon completion of the construction or lease-up activities, the Company deducts any estimated future costs totaling $357.4 million required to complete construction of the asset to arrive at an estimated value attributable to the asset. The Company then discounts the capitalized value back based on the projected number of periods to reach stabilization. The discount rate applied, currently ranging from 7% to 9.75%, is determined based on a risk assessment of the development activities and comparable target returns in the marketplace. The Company then adds back the discounted projected interim cash flows expected to be generated during the projected lease-up period to reach stabilization. Represents the discount to stabilized value applied to assets that have not yet achieved their respective Projected Stabilized NOI due to construction, lease-up or renovation. See Information About Net Operating Income on page 46. The residential valuation analysis totals to a Roseland NAV of $1,740,000,000 and additional Mack-Cali residential holdings of $96,000,000 or an aggregate $1,836,000,000, with the company’s share of this NAV of $1,564,000,000 (“MCRC Share”). This latter amount represents the company's share of Roseland NAV, net of the $255,000,000 attributable to Rockpoint's noncontrolling interest. The increase in the approximate NAV per share of $0.49 from June 30, 2018 to September 30, 2018 is due primarily to the acquisition of Prudential’s membership interest in Marbella and improved performance at our lease-up properties. (10) (11) (12) (13) (14) Information About Net Asset Value (NAV) Overall, NAV is arrived at by calculating the estimated gross asset values for each of their real estate properties, investments and other significant assets and interests, and then deducting from such amounts the corresponding net debt and third parties’ interests in the assets. Gross asset values for the operating real estate properties are calculated using the direct capitalization method by dividing projected net operating income for a one year period by an estimated current capitalization rate for each property. For each operating property, management projects net operating income that it expects to receive for future periods from a combination of in-place lease contracts, prospective renewals of expiring leases and prospective lease-up of vacant space. Factors considered by management in projecting releasing and lease-up of vacant space and estimating the applicable market rental rates include: identification of leases currently being negotiated by management; historical annual leasing volumes for such property types; and comparable leases that have been executed for properties within the Registrants’ portfolio and for competitor buildings in similar locations. A capitalization rate is estimated for each property based on its asset class and geographic location. Estimates of capitalization rates are based on information from recent property sale transactions as well as from publicly available information regarding unrelated third party property transactions. The use of NAV as a measure of value is subject to certain inherent limitations. The assessment of the estimated NAV of a particular property is subjective in that it involves estimates and assumptions and can be calculated using various acceptable methods. The Company’s methods of determining NAV may differ from the methods used by other companies. Accordingly, the Company’s estimated NAV may not be comparable to measures used by other companies. As with any valuation methodology, the methodologies utilized by the Company in estimating NAV are based upon a number of estimates, assumptions, judgments or opinions that may or may not prove to be correct. Capitalization rates obtained from publicly available sources also are critical to the NAV calculation and are subject to the sources selected and variability of market conditions at the time. Investors in the Company are cautioned that NAV does not represent (i) the amount at which the Company’s securities would trade at a national securities exchange, (ii) the amount that a security holder would obtain if he or she tried to sell his or her securities, (iii) the amount that a security holder would receive if the Company liquidated its assets and distributed the proceeds after paying all of their expenses and liabilities or (iv) the book value of the Company’s real estate, which is generally based on the amortized cost of the property, subject to certain adjustments. Company Highlights 3Q 2018 10

Balance Sheet ASSETS Rental property $ in thousands (unaudited) 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 $537 a nd $1,138 Total Assets LIABILITIES & EQUITY 4,187,339 28,180 39,792 252,626 100,842 342,320 6,786 $4,957,885 Senior uns ecured notes , net Uns ecured revolving credit fa cility a nd term loa ns Mortga ges , loa ns pa ya ble a nd other obliga tions , net Note Pa ya ble to Affilia te Dividends a nd dis tributions pa ya ble Accounts pa ya ble, a ccrued expens es a nd other lia bilities ( 2) Rents received in a dva nce a nd s ecurity depos its Accrued interes t pa ya ble Total Liabilities Commitments a nd contingencies Redeema ble noncontrolling interes ts Total Stockholders’/Members Equity Noncontrolling interes ts in s ubs idia ries : Opera ting Pa rtners hip Cons olida ted joint ventures Total Noncontrolling Interests in Subsidiaries Total Equity Total Liabilities and Equity $569,145 822,288 1,418,135 21,158 192,716 43,993 9,519 3,076,954 - 212,208 1,476,295 171,395 21,033 192,428 1,668,723 $4,957,885 Notes: See supporting “Balance Sheet” notes on page 43 for more information. Company Highlights 3Q 2018 11 4Q 2017 3Q 2018 Office/Corp. Roseland Elim./Other Total $270,381 2,426,927 332,843 4,959 213,055 94,945 $205,665 - 1,148,697 - 461 - 36,100 - 295,287 - 310,907 - 1,997,117 - (71,856) - 1,925,261 - 36,589 - 1,961,850 - 5,934 - 7,717 - 216,902 - 1,774 - 50,074 (23,000) 1,957 - $2,246,208 ($23,000) - - - - 995,471 - 23,000 (23,000) - - 58,970 - 5,633 - 2,385 - 1,085,459 (23,000) - - 255,091 - 864,518 - - - 41,140 - 41,140 - 905,658 - $2,246,208 ($23,000) $476,046 3,575,624 333,304 41,059 508,342 405,852 3,343,110 (1,014,359) 5,340,227 (1,086,215) 2,328,751 46,563 4,254,012 83,152 2,375,314 4,337,164 4,889 12,402 13,712 97,546 313,883 5,240 10,823 20,119 230,614 99,320 340,957 7,197 $2,822,986 $5,046,194 $570,022 870,313 371,912 - 21,691 120,517 33,207 11,992 $570,022 870,313 1,367,383 - 21,691 179,487 38,840 14,377 1,999,654 - 52,324 602,526 166,379 2,103 3,062,113 - 307,415 1,467,044 166,379 43,243 168,482 209,622 771,008 1,676,666 $2,822,986 $5,046,194

Income Statement – Quarterly Comparison $ in thousands, except per share amounts (unaudited) REVENUES Ba s e rents Es ca la tion a nd recoveries from tena nts Rea l es ta te s ervices Pa rking income Other income Total revenues EXPENSES Rea l es ta te ta xes Utilities Opera ting s ervices Rea l es ta te s ervice expens es Genera l a nd a dminis tra tive Deprecia tion a nd a mortiza tion Total expenses Operating Income OTHER (EXPENSE) INCOME Interes t expens e Interes t a nd other inves tment income (los s ) Equity in ea rnings (los s ) of uncons olida ted joint ventures Ga in on cha nge of control of interes ts Rea lized ga ins (los s es ) a nd unrea lized los s es on dis pos ition Ga in on s a le of inves tment in uncons olida ted joint venture Ga in (los s ) from ea rly extinguis hment of debt, net Total other income (expense) Net income Noncontrolling interes t in cons olida ted joint ventures Noncontrolling interes t in Opera ting Pa rtners hip Redeema ble noncontrolling interes t Net income available to common shareholders Basic earnings per common share: Net income a va ila ble to common s ha reholders Diluted earnings per common share: Net income a va ila ble to common s ha reholders Ba s ic weighted a vera ge s ha res outs ta nding Diluted weighted a vera ge s ha res outs ta nding $103,584 10,301 4,074 5,757 2,873 $112,902 12,791 4,661 5,327 3,286 $118,419 11,312 5,149 5,223 3,426 $128,643 16,385 5,748 5,766 3,476 $126,589 $138,967 $143,529 $160,018 $17,966 7,555 22,939 4,360 13,455 41,413 $18,361 12,504 25,618 4,936 16,085 41,297 $17,755 9,347 26,884 5,018 13,726 47,401 $21,300 11,480 26,312 6,207 13,140 52,375 $107,688 $118,801 $120,131 $130,814 $18,901 $20,166 $23,398 $29,204 ($18,999) 641 (52) - 1,010 - - ($20,075) 1,128 1,572 - 58,186 - (10,289) ($22,490) 1,408 (1,199) - 4,476 - (182) ($25,634) 762 (1,533) - 31,336 10,568 - ($17,400) $30,522 ($17,987) $15,499 $1,501 $95 142 (2,989) $50,688 $30 (4,883) (2,799) $5,411 $153 (299) (2,683) $44,703 $447 (4,413) (2,683) ($1,251) $43,036 $2,582 $38,054 ($0.05) $0.45 ($0.01) $0.39 ($0.05) 90,330 100,598 $0.45 90,263 100,604 ($0.01) 90,029 100,468 $0.39 90,023 100,727 Company Highlights 3Q 2018 12 2Q 2018 1Q 2018 4Q 2017 3Q 2017 3Q 2018 Office/ Corp. Roseland Total $85,504 11,462 122 2,447 1,638 $21,735 1,194 4,310 3,052 650 $30,941 $3,917 1,497 6,650 4,317 2,891 10,370 $29,642 $1,299 ($4,489) 1 (1,401) 14,217 (6,330) - - $1,998 $3,297 $451 - (3,330) $418 $107,239 12,656 4,432 5,499 2,288 $101,173 $132,114 $11,763 8,493 20,457 83 8,729 35,443 $15,680 9,990 27,107 4,400 11,620 45,813 $84,968 $114,610 $16,205 ($16,605) 850 714 - (2,772) - - $17,504 ($21,094) 851 (687) 14,217 (9,102) - - ($17,813) ($15,815) ($1,608) $0 167 (455) $1,689 $451 167 (3,785) ($1,896) ($1,478) ($0.05) ($0.05) 90,468 100,712

FFO, Core FFO & AFFO Net income (los s ) a va ila ble to common s ha reholders Add (deduct): Noncontrolling interes t in Opera ting Pa rtners hip – Quarterly Comparison $ in thousands, except per share amounts and ratios (unaudited) ($1,478) (167) 49,433 (14,217) - 9,102 ($1,251) (142) 45,781 - - (1,010) $43,036 4,883 45,602 - - (58,186) $2,582 299 51,619 - - (4,476) $38,054 4,413 57,231 Rea l es ta te-rela ted deprecia tion a nd a mortiza tion on continuing opera tions (1 ) Ga in on cha nge of control of interes ts Ga in on s a le of inves tment in uncons olida ted joint venture Rea lized ga ins a nd unrea lized los s es on dis pos ition of renta l property, net Funds from operations (2 ) Add/De duct: (10,568) (31,336) $42,673 $43,378 $35,335 $50,024 $57,794 Los s from extinguis hment of debt, net Severa nce/s epa ra tion cos ts on ma na gement res tructuring Core FFO Add (De duct) Non-Ca s h Ite ms : - 640 - 1,795 $10,289 5,052 $182 - - - $43,313 $45,173 $50,676 $50,206 $57,794 Stra ight-line rent a djus tments (3 ) Amortiza tion of ma rket lea s e inta ngibles , net (4 ) Amortiza tion of lea s e inducements Amortiza tion of s tock compens a tion Non rea l es ta te deprecia tion a nd a mortiza tion Amortiza tion of debt dis count/(premium) a nd ma rk-to-ma rket, net Amortiza tion of deferred fina ncing cos ts De duct: ($1,901) (892) 214 1,897 535 (238) 1,302 $249 (1,313) 258 783 536 (237) 1,145 ($2,742) (2,130) 294 2,657 511 (237) 1,096 ($3,685) (2,234) 444 2,303 511 (201) 1,150 ($6,360) (2,254) 535 2,291 505 (164) 1,184 Non-incrementa l revenue genera ting ca pita l expenditures : Building improvements Tena nt improvements a nd lea s ing commis s ions (5 ) Tena nt improvements a nd lea s ing commis s ions on s pa ce va ca nt for more tha n one yea r Adjusted FFO (2 ) Core FFO (calculated above) De duct: (2,208) (4,467) (7,782) (723) (17,939) (6,851) (1,666) (4,468) (7,695) (2,842) (4,791) (2,761) (1,664) (5,110) (6,667) $29,773 $21,081 $36,296 $38,100 $40,090 $43,313 $45,173 $50,676 $50,206 $57,794 Equity in ea rnings (los s ) of uncons olida ted joint ventures , net Equity in ea rnings s ha re of deprecia tion a nd a mortiza tion Add-ba ck: $687 (4,155) $52 (4,903) ($1,572) (4,815) $1,199 (4,729) $1,533 (5,260) Interes t expens e Recurring JV dis tributions (6 ) Income (los s ) in non-controlling interes t in cons olida ted joint ventures Redeema ble noncontrolling interes t Income ta x expens e Adjusted EBITDA Net debt a t period end (7 ) Net debt to Adjus ted EBITDA Diluted weighted a vera ge s ha res /units outs ta nding (8 ) Funds from opera tions per s ha re-diluted Core Funds from Opera tions per s ha re/unit-diluted Dividends decla red per common s ha re Notes: See footnotes and “Information About FFO, Core FFO, & AFFO” on page 17. 21,093 4,908 (451) 3,785 215 18,999 4,585 (95) 2,989 144 20,075 6,690 (30) 2,799 - 22,490 2,862 (153) 2,683 - 25,634 4,057 (447) 2,683 - $69,395 $66,944 $73,823 $74,558 $85,994 $2,776,776 10.0x 100,712 $0.42 $0.43 $0.20 $2,616,772 9.7x 100,598 $0.43 $0.45 $0.20 $2,589,903 8.8x (9 ) 100,604 $0.35 $0.50 $0.20 $2,781,388 9.3x 100,468 $0.50 $0.50 $0.20 $2,750,397 8.0x 100,727 $0.57 $0.57 $0.20 Company Highlights 3Q 2018 13 3Q 2018 2Q 2018 1Q 2018 4Q 2017 3Q 2017

EBITDAre – Quarterly Comparison $ in thousands (unaudited) Net Income a va ila ble to common s ha reholders ($1,478) ($1,251) $43,036 $2,582 $38,054 Add: Noncontrolling interes t in Opera ting Pa rtners hip Noncontrolling interes t in cons olida ted joint ventures Redeema ble noncontrolling interes t Interes t expens e Income ta x expens e Deprecia tion a nd a mortiza tion (167) (451) 3,785 21,094 267 45,813 (142) (95) 2,989 18,999 144 41,413 4,883 (30) 2,799 20,075 30 41,297 299 (153) 2,683 22,490 - 47,401 4,413 (447) 2,683 25,634 113 52,375 De duct: Rea lized (ga ins ) los s es a nd unrea lized los s es on dis pos ition of renta l property, net (Ga in)/los s on s a le of inves tment in uncons olida ted joint ventures (Ga in)/los s on cha nge of control of interes t Equity in (ea rnings ) los s of uncons olida ted joint ventures 9,102 - (14,217) 687 (1,010) - - 52 (58,186) - - (1,572) (4,476) - - 1,199 (31,336) (10,568) - 1,533 Add: Compa ny's s ha re of property NOI's in uncons olida ted joint ventures (1 ) 8,802 10,193 11,059 9,962 8,563 EBITDAre Add: Los s from extinguis hment of debt, net Severa nce/Sepa ra tion cos ts on ma na gement res tructuring $73,237 $71,292 $63,391 $81,987 $91,017 - 640 - 1,795 10,289 5,052 - - - - Adjusted EBITDAre $73,877 $73,087 $78,732 $81,987 $91,017 Notes: (1) See unconsolidated joint venture NOI details on page 22 for 3Q 2018. See Information About EBITDAre on page 17. Company Highlights 3Q 2018 14 3Q 2018 2Q 2018 1Q 2018 4Q 2017 3Q 2017

Income Statement – Year-over-Year Comparison $ in thousands REVENUES Ba s e rents Es ca la tion a nd recoveries from tena nts Rea l es ta te s ervices Pa rking income Other income Total revenues EXPENSES Rea l es ta te ta xes Utilities Opera ting s ervices Rea l es ta te s ervice expens es Genera l a nd a dminis tra tive Deprecia tion a nd a mortiza tion Total expenses Operating Income OTHER (EXPENSE) INCOME Interes t expens e Interes t a nd other inves tment income (los s ) Equity in ea rnings (los s ) of uncons olida ted joint ventures Ga in on cha nge of control of interes ts Rea lized ga ins (los s es ) a nd unrea lized los s es on dis pos ition Ga in on s a le of inves tment in uncons olida ted joint venture Ga in (los s ) from ea rly extinguis hment of debt, net Total other income (expense) Net income Noncontrolling interes t in cons olida ted joint ventures Noncontrolling interes t in Opera ting Pa rtners hip Redeema ble noncontrolling interes t Net income available to common shareholders Basic earnings per common share: Net income a va ila ble to common s ha reholders Diluted earnings per common share: Net income a va ila ble to common s ha reholders Ba s ic weighted a vera ge s ha res outs ta nding Diluted weighted a vera ge s ha res outs ta nding $323,725 35,748 13,167 16,583 8,447 $382,915 47,455 17,980 15,047 9,274 $397,670 $472,671 $52,007 30,049 75,664 13,696 41,160 128,523 $63,609 33,251 80,495 18,376 37,223 157,768 $341,099 $390,722 $56,571 $81,949 ($60,168) 2,620 833 14,217 50,094 - (10,289) ($70,898) 1,358 (4,882) - (2,112) 23,131 (239) ($2,693) ($53,642) $53,878 $576 (4,574) (9,573) $28,307 $865 (2,412) (6,157) $40,307 $20,603 $0.35 $0.06 $0.35 90,355 100,684 $0.06 89,997 100,701 Company Highlights 3Q 2018 15 YTD 3Q 2018 YTD 3Q 2017

FFO, Core FFO & AFFO – Year-over-Year Net income a va ila ble to common s ha reholders Add (deduct): Noncontrolling interes t in Opera ting Pa rtners hip Rea l es ta te-rela ted deprecia tion a nd a mortiza tion on continuing opera tions (1 ) Ga in on cha nge of control of interes ts Ga in on s a le of inves tment in uncons olida ted joint venture Rea lized ga ins a nd unrea lized los s es on dis pos ition of renta l property, net Funds from operations (2 ) Add/De duct: Comparison $ in thousands except per share amounts and ratios (unaudited) $40,307 4,574 140,816 (14,217) - (50,094) $20,603 2,412 172,144 - (23,131) 2,112 $121,386 $174,140 Los s from extinguis hment of debt, net Severa nce/s epa ra tion cos ts on ma na gement res tructuring Core FFO Add (De duct) Non-Ca s h Ite ms : $10,289 7,487 $239 - $139,162 $174,379 Stra ight-line rent a djus tments (3 ) Amortiza tion of ma rket lea s e inta ngibles , net (4 ) Amortiza tion of lea s e inducements Amortiza tion of s tock compens a tion Non rea l es ta te deprecia tion a nd a mortiza tion Amortiza tion of debt dis count/(premium) a nd ma rk-to-ma rket, net Amortiza tion of deferred fina ncing cos ts De duct: ($4,394) (4,335) 766 5,337 1,582 (712) 3,543 ($12,613) (6,018) 1,259 5,626 1,231 (86) 3,462 Non-incrementa l revenue genera ting ca pita l expenditures : Building improvements Tena nt improvements a nd lea s ing commis s ions (5 ) Tena nt improvements a nd lea s ing commis s ions on s pa ce va ca nt for more tha n one yea r Adjusted FFO (2 ) Core FFO (calculated above) De duct: (4,597) (26,874) (22,328) (9,936) (17,225) (18,783) $87,150 $121,296 $139,162 $174,379 Equity in ea rnings (los s ) of uncons olida ted joint ventures , net Equity in ea rnings s ha re of deprecia tion a nd a mortiza tion Add-ba ck: ($833) (13,873) $4,882 (15,607) Interes t expens e Recurring JV dis tributions (6 ) Income (los s ) in non-controlling interes t in cons olida ted joint ventures Redeema ble noncontrolling interes t Income ta x expens e Adjusted EBITDA Net debt a t period end (7 ) Net debt to Adjus ted EBITDA Diluted weighted a vera ge s ha res /units outs ta nding (8 ) Funds from opera tions per s ha re-diluted Core Funds from Opera tions per s ha re/unit-diluted Dividends decla red per common s ha re Notes: See footnotes and “Information About FFO, Core FFO, & AFFO” on page 17. 60,167 16,183 (576) 9,573 359 70,898 9,778 (865) 6,157 - $210,162 $249,622 $2,776,776 10.0x 100,684 $1.21 $1.38 $0.60 $2,750,397 8.3x 100,701 $1.73 $1.73 $0.55 Company Highlights 3Q 2018 16 YTD 3Q 2018 YTD 3Q 2017

FFO, Core FFO & AFFO (Notes) Notes (1) Includes the Company’s share from unconsolidated joint ventures, and adjustments for noncontrolling interest, of $4,155 and $5,362 for the three months ended September 30, 2018 and 2017, respectively, and $13,873 and $15,607 for the nine months ended September 30, 2018 and 2017, respectively. Excludes non-real estate-related depreciation and amortization of $535 and $505 for the three months ended September 30, 2018 and 2017, respectively, and $1,582 and $1,231 for the nine months ended September 30, 2018 and 2017, respectively. (2) Funds from operations is calculated in accordance with the definition of FFO of the National Association of Real Estate Investment Trusts (NAREIT). See “Information About FFO, Core FFO and AFFO” below. (3) Includes free rent of $3,643 and $8,748 for the three months ended September 30, 2018 and 2017, respectively, and $12,117 and $21,874 for the nine months ended September 30, 2018 and 2017, respectively. Also includes the Company's share from unconsolidated joint ventures of ($96) and $673 for the three months ended September 30, 2018 and 2017, respectively, and ($790) and $968 for the nine months ended September 30, 2018 and 2017, respectively. (4) Includes the Company's share from unconsolidated joint ventures of $0 and $81 for the three months ended September 30, 2018 and 2017, respectively, and $107 and $256 for the nine months ended September 30, 2018 and 2017, respectively. (5) Excludes expenditures for tenant spaces in properties that have not been owned by the Company for at least a year. (6) 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. (7) Net Debt calculated by taking the sum of senior unsecured notes, unsecured revolving credit facility, and mortgages, loans payable and other obligations, and deducting cash and cash equivalents, all at period end. (8) Calculated based on weighted average common shares outstanding, assuming redemption of Operating Partnership common units into common shares (10,189 and 10,439 shares for the three months ended September 30, 2018 and 2017, respectively, and 10,214 and 10,394 shares for the nine months ended September 30, 2018 and 2017, respectively). (9) 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. Information About FFO, Core FFO and AFFO Funds from operations (“FFO”) is defined as net income (loss) before noncontrolling interests of unitholders, computed in accordance with generally accepted accounting principles (“GAAP”), excluding gains or losses from depreciable rental property transactions (including both acquisitions and dispositions), 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 property transactions and impairments related to depreciable rental property (all of which are based on historical costs which may be of limited relevance in evaluating current performance), FFO per share can facilitate comparison of operating performance between equity REITs. FFO per share should not be considered as an alternative to net income available to common shareholders per share as an indication of the Company’s performance or to cash flows as a measure of liquidity. FFO per share presented herein is not necessarily comparable to FFO per share presented by other real estate companies due to the fact that not all real estate companies use the same definition. However, the Company’s FFO per share is comparable to the FFO per share of real estate companies that use the current definition of the National Association of Real Estate Investment Trusts (“NAREIT”). A reconciliation of net income per share to FFO per share is included in the financial tables above. Core FFO is defined as FFO, as adjusted for items that may distort the comparative measurement of the Company’s performance over time. Adjusted FFO ("AFFO") is defined as Core FFO less (i) recurring tenant improvements, leasing commissions and capital expenditures, (ii) straight-line rents and amortization of acquired below-market leases, net, and (iii) other non-cash income, plus (iv) other non-cash charges. Core FFO and AFFO are both non-GAAP financial measures that are not intended to represent cash flow and are not indicative of cash flows provided by operating activities as determined in accordance with GAAP. Core FFO and AFFO are presented solely as supplemental disclosures that the Company’s management believes provides useful information regarding the Company's operating performance and its ability to fund its dividends. There are not generally accepted definitions established for Core FFO or AFFO. Therefore, the Company's measures of Core FFO and AFFO may not be comparable to the Core FFO and AFFO reported by other REITs. A reconciliation of net income to Core FFO and AFFO are included in the financial tables above. Information About EBITDAre EBITDAre is a non-GAAP financial measure. The Company computes EBITDAre in accordance with standards established by the National Association of Real Estate Investment Trusts, or NAREIT, which may not be comparable to EBITDAre reported by other REITs that do not compute EBITDAre in accordance with the NAREIT definition, or that interpret the NAREIT definition differently than the Company does. The White Paper on EBITDAre approved by the Board of Governors of NAREIT in September 2017 defines EBITDAre as net income (loss) (computed in accordance with Generally Accepted Accounting Principles, or GAAP), plus interest expense, plus income tax expense, plus depreciation and amortization, plus (minus) losses and gains on the disposition of depreciated property, plus impairment write-downs of depreciated property and investments in unconsolidated joint ventures, plus adjustments to reflect the entity's share of EBITDAre of unconsolidated joint ventures. The Company presents EBITDAre, because the Company believes that EBITDAre, along with cash flow from operating activities, investing activities and financing activities, provides investors with an additional indicator of the Company’s ability to incur and service debt. EBITDAre should not be considered as an alternative to net income (determined in accordance with GAAP), as an indication of the Company’s financial performance, as an alternative to net cash flows from operating activities (determined in accordance with GAAP), or as a measure of the Company’s liquidity. Company Highlights 3Q 2018 17

Same Store Office Same Store Performance $ in thousands Tota l Property Revenues (GAAP) $99,250 $109,394 ($10,144) (9.3%) $273,266 $294,274 ($21,008) (7.1%) Rea l Es ta te Ta xes Utilities Opera ting Services Tota l Property Expens es $11,680 8,200 18,336 $38,216 $13,710 8,063 17,225 $38,998 ($2,030) 137 1,111 ($782) (14.8%) 1.7% 6.4% (2.0%) $37,992 22,451 50,022 $110,465 $40,004 21,407 49,262 $110,673 ($2,012) 1,044 760 ($208) (5.0%) 4.9% 1.5% (0.2%) Same Store GAAP NOI (a) $61,034 $70,396 ($9,362) (13.3%) $162,801 $183,601 ($20,800) (11.3%) Les s : s tra ight-lining of rents a dj. a nd FAS 141 $2,183 $7,447 ($5,264) (70.7%) $7,706 $14,954 ($7,248) (48.5%) Sa me Store Ca s h NOI (b) $58,851 $62,949 ($4,098) (6.5%) $155,095 $168,647 ($13,552) (8.0%) Tota l Properties 108 108 - - 102 102 - - Tota l Squa re Foota ge 15,062,083 15,062,083 - - 13,988,037 13,988,037 - - % Lea s ed 82.9% 89.0% - (6.9%) 82.5% 89.2% - (7.5%) Residential Same Store (1) Tota l Property Revenues $18,530 $18,543 ($13) (0.1%) $55,168 $55,245 ($77) (0.1%) Rea l Es ta te Ta xes Opera ting Expens es Tota l Property Expens es $2,258 4,924 7,182 $2,374 4,956 7,330 ($116) (32) (148) (4.9%) (0.6%) (2.0%) $6,929 13,820 20,749 $7,012 13,741 20,753 ($83) 79 (4) (1.2%) 0.6% (0.0%) Same Store GAAP NOI (a) $11,348 $11,213 $135 1.2% $34,419 $34,492 ($73) (0.2%) Tota l Units (2 ) 3,156 3,156 - - 3,156 3,156 - - % Lea s ed 96.3% 97.4% (1.1%) 96.3% 97.4% (1.1%) Notes: (a) The aggregate sum of: property-level revenue, straight-line and ASC 805 adjustments over the given time period; less: operating expense, real estate taxes and utilities over the same period for the same store portfolio. (b) Aggregate property-level revenue over the given period; less: operating expense, real estate taxes and utilities over the same period for the same store portfolio. See supporting “Same Store Performance” notes on page 43 and Information About Net Operating Income (NOI) on page 46. Company Highlights 3Q 2018 18 For the Nine Months Ended 3Q 2018 3Q 2017 Change % Change For the Three Months Ended 3Q 2018 3Q 2017 Change % Change For the Nine Months Ended 3Q 2018 3Q 2017 Change % Change For the Three Months Ended 3Q 2018 3Q 2017 Change % Change

Debt Summary & Maturity Schedule $ in thousands Debt Breakdown Fixed Rate Debt $1,250,000 1,046,622 $2,296,622 44.30% 37.09% 81.39% 3.70% 3.62% 3.66% 2.54 6.66 4.41 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 $328,170 197,000 $525,170 11.63% 6.98% 18.61% 4.88% 3.39% 4.32% 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 $2,821,792 (3,005) (11,143) $2,807,644 100.00% 3.79% ( 3 ) 3.92 Unconsolidated Secured Debt CLI Sha re Pa rtners ’ Sha re Total Unconsolidated Secured Debt $374,452 448,490 $822,942 45.50% 54.50% 100.00% 4.10% 4.10% 4.10% 6.94 6.94 6.94 Maturity Schedule Period Oct-Dec 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 $0 677,353 325,000 365,800 300,000 333,998 794,929 $2,797,080 $350 532 2,903 3,227 3,284 3,412 7,230 $20,938 (3,005) 3,774 (11,143) $10,564 350 677,885 327,903 369,027 303,284 337,410 802,159 2,818,018 (3,005) 3,774 (11,143) $2,807,644 3.99% 4.10% 3.46% 3.34% 4.60% 3.53% 3.80% 3.83% (1 ) (1 ) - - - $2,797,080 3.83% ( 3 ) Notes: See supporting “Debt Summary & Maturity Schedule” notes on page 43. Company Highlights 3Q 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 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 (2,588) $371,912 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 (3,005) (1,973) $570,022 300,000 275,000 575,000 (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% $350,000 325,000 197,000 (1,687) $870,313 $1,812,247 $350,000 325,000 150,000 (2,712) $822,288 $2,039,824 01/07/19 (4 ) 01/25/20 (4 ) 01/25/21 Ma rriott Hotels a t Port Imperia l (F.K.A. Port Imperia l 4/5 Hotel) Signa ture Pla ce (F.K.A. 250 Johns on) Ports ide 5/6 RiverHous e 11 a t Port Imperia l (F.K.A. Port Imperia l South 11) 145 Front a t City Squa re (F.K.A. 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% $68,928 41,768 69,787 67,427 54,743 $302,653 $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 Ma rbella Qua rry Pla ce a t Tucka hoe (F.K.A 150 Ma in Street) Port Imperia l South 4/5 Ga ra ge Principa l ba la nce outs ta nding Una mortized deferred fina ncing cos ts Total Secured Permanent Debt Total Debt - Residential Portfolio Total Debt: Notes: See supporting “Debt Profile” notes on page 43. Wells Fa rgo Ba nk N.A. The Northwes tern Mutua l Life America n Genera l Life & A/G PC CBRE Ca pita l Ma rkets /FreddieMa c Ca pita l One/FreddieMa c New York Community Ba nk New York Life Ins ura nce Co. 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% 4.17% 4.48% 4.85% $25,517 168,774 4,000 58,998 100,000 135,750 131,000 41,000 32,600 697,639 (4,895) $692,744 $995,397 $2,807,644 $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 08/10/26 08/05/27 12/01/29 Company Highlights 3Q 2018 20 Effective September 30, December 31, Date of Interest Rate (1 ) 2018 2017 Maturity

2018/2019 Debt Maturities $ in thousands LTV (1 ) Type 3Q 2018 Loan Balance Maturity Prepayment Secured Debt Consolidated Debt Re s ide ntia l Pa rk Squa re (2 ) Signa ture Pla ce Ports ide 5/6 Ma rriott Hotels a t Port Imperia l RiverHous e 11 145 Front a t City Squa re Tota l Cons olida ted Res identia l Perma nent Loa n Cons truction Loa n Cons truction Loa n Cons truction Loa n Cons truction Loa n Cons truction Loa n $25,517 41,769 69,787 68,928 67,427 54,743 $328,171 N/A 42,000 73,000 94,000 78,000 58,000 4/10/2019 5/20/2019 9/29/2019 10/6/2019 11/24/2019 12/10/2019 - One 1-yea r option Two 1-yea r options (3 ) Two 1-yea r options Two 1-yea r options (3 ) Two 1-yea r options 73.11% 54.30% 45.85% 45.69% 43.87% 50.05% 49.30% Total Consolidated Secured $328,171 49.30% Unconsolidated Debt Re s ide ntia l Shops a t 40 Pa rk M2 Tota l Uncons olida ted Res identia l Perma nent Loa n Cons truction Loa n $6,067 74,690 $80,757 - - 9/12/2019 3/30/2019 - Exercis ed third of four 3-month extens ion options 40.73% 38.30% 38.48% Total Unconsolidated Secured $80,757 38.48% Total Secured Debt $408,928 47.17% Unsecured Debt 2016 Uns ecured Term Loa n Total Unsecured $350,000 $350,000 - 1/7/2019 Two 1-yea r options - - Notes: See supporting “2018/2019 Debt Maturities” notes on page 43. Company Highlights 3Q 2018 21 Balance at Maximum Date of Extension Option/

Unconsolidated Joint Ventures $ in thousands Ope ra ting Prope rtie s Residential 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 311 130 59 316 825 141 378 762 2,922 95.5% 94.6% 84.7% 96.8% 96.8% 96.5% 91.0% 97.9% 95.8% 24.3% 12.5% 25.0% 22.5% 25.0% 45.0% 50.0% 85.0% 43.9% $2,167 942 146 1,750 3,048 494 1,799 3,561 $13,907 $74,690 42,291 13,145 82,000 163,661 29,957 98,902 191,732 $696,378 $1,325 593 (2) 1,092 1,751 217 607 1,070 $6,653 $525 118 37 394 762 222 900 3,027 $5,985 $18,127 5,286 3,286 18,450 40,915 13,481 49,451 162,972 $311,968 $322 74 (1) 246 438 98 304 910 $2,391 $321 5 (3) 243 421 91 285 821 $2,184 92,878 139,750 106,345 338,973 64.5% 100.0% 93.2% 88.1% 50.0% 50.0% 31.3% 44.1% 275 420 323 $1,018 14,000 8,306 4,258 $26,564 117 360 272 $749 138 210 100 $448 7,000 4,153 1,331 $12,484 59 180 85 $324 49 179 85 $313 30,745 351 58.0% 85.2% 84.0% 20.0% 50.0% 48.7% 142 3,025 $3,167 - 100,000 $100,000 142 2,108 $2,250 28 1,513 $1,541 - 50,000 $50,000 28 1,054 $1,082 2 1,490 $1,492 Total Operating 44.8% $18,092 $822,942 $9,652 $7,974 $374,452 $3,797 $3,989 Other Uncons olida ted JVs Total Unconsolidated JVs (2 ) $2,078 $20,170 - $2,078 $11,730 $828 $8,802 - $828 $4,625 $139 $4,128 $822,942 $374,452 Notes: (a) (b) (c) (d) The sum of property-level revenue, straight-line and ASC 805 adjustments; less: operating expense, real estate taxes and utilities. Property-level revenue; less: operating expense, real estate taxes and utilities, property-level G&A expense and property-level interest expense. GAAP NOI at Company’s ownership interest in the joint venture property. NOI After Debt Service at Company’s ownership interest in the joint venture property, calculated as Company’s share of GAAP NOI after deducting Company’s share of the unconsolidated joint ventures’ interest expense. The Company’s share of the interest expense is $4,178,000 for 3Q 2018. See supporting “Unconsolidated Joint Ventures” notes on page 43 and Information About Net Operating Income (NOI) on page 46. Company Highlights 3Q 2018 22 Leased CLI's Nominal 3Q 2018 Total GAAP NOI After CLI Share CLI Share CLI GAAP NOI After CLI 3Q Property Units/SF Occupancy Ownership (1 ) GAAP NOI (a) Debt Debt Service (b) of GAAP NOI (c) of Debt Debt Service (d) 2018 FFO

Transaction Activity $ in thousands (incl. per unit values) except per SF Office Portfolio 1Q 2018 Dis pos itions 35 Wa terview Horizon Portfolio 700 Horizon - AAA Wa ll Portfolio 20 Wa terview 75 Livings ton Wes tches ter Fina ncia l Center (3 ) 1Q 2018 Dispositions Pa rs ippa ny, NJ Ha milton, NJ Ha milton, NJ Wa ll, NJ Pa rs ippa ny, NJ Ros ela nd, NJ White Pla ins , NY 02/15/18 03/05/18 03/22/18 03/23/18 03/28/18 03/28/18 03/30/18 1 6 1 8 1 1 2 172,498 239,262 120,000 397,423 225,550 94,221 489,000 87.1% 75.1% 100.0% 85.6% 41.3% 65.8% 56.3% $28,150 18,500 34,750 46,312 12,900 8,250 83,000 $163 77 290 117 57 88 170 20 1,737,954 70.2% $231,862 $133 6.64% 2Q 2018 Dis pos itions - - - - - - - - - 3Q 2018 Dis pos itions 1 & 3 Ba rker 600 Horizon Drive 3Q 2018 Dispositions White Pla ins , NY Ha milton, NJ 09/06/18 08/02/18 2 1 133,300 95,000 71.2% 100.0% $15,920 15,750 $119 166 3 228,300 83.2% $31,670 $139 7.78% Residential Portfolio 3Q 2018 Acquis itions (1 ) Ma rbella (50% Interes t) 3Q 2018 Acquisitions Jers ey City, NJ 08/02/18 1 1 412 412 95.4% 95.4% $218,500 $218,500 $530 $530 4.62% Notes: (1)Represents 100% of asset value. See supporting “Transaction Activity” notes on page 43. Company Highlights 3Q 2018 23 Number of Gross Asset Price Per Weighted Average Location Transaction Date Buildings Units Occupancy % Value Unit Cap Rate (2 ) Number of Transaction Price Per Weighted Average Location Transaction Date Buildings SF Occupancy % Value (1 ) SF Cap Rate (2 )

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 4,884,193 951,901 194,066 1,234,101 198,494 581,156 417,054 3,576,772 76.4% 48.6% 83.0% 95.6% 59.5% 73.7% 73.2% $37.21 48.28 38.50 36.56 39.40 39.48 $38.85 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 100 Overlook Center 5 Va ughn Drive 1 River Center 1 1 River Center 2 1 River Center 3 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 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 6,216 149,600 98,500 122,594 120,360 194,518 350,000 317,040 4,135,607 10,970,891 3,526,612 14,497,503 149,745 142,136 193,974 135,634 168,144 79,005 38,572 180,000 127,733 122,112 122,938 82,036 142,588 103,289 134,026 181,592 168,350 6,216 142,704 43,310 119,622 120,360 115,092 350,000 317,040 3,486,218 8,912,425 3,288,702 12,201,127 97.0% 60.1% 78.1% 86.7% 100.0% 77.4% 43.6% 100.0% 86.6% 82.3% 81.7% 55.7% 94.2% 70.8% 86.8% 100.0% 78.2% 100.0% 95.4% 44.0% 97.6% 100.0% 59.2% 100.0% 100.0% 84.3% 81.2% 93.3% 84.2% $40.06 35.91 27.19 21.29 26.55 27.38 20.39 25.16 24.64 26.27 32.72 30.27 29.66 29.20 25.99 40.85 30.64 17.84 31.59 29.93 27.96 26.82 28.15 17.78 25.77 $27.89 $34.18 $18.57 $29.97 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 1,951,091 158,450 58,562 262,841 199,379 196,128 190,792 209,848 256,324 194,111 123,000 1,849,435 79.2% 86.1% 100.0% 99.7% 100.0% 97.5% 84.8% 98.3% 98.4% 100.0% 94.8% $29.12 25.16 32.59 31.92 34.62 33.82 35.89 52.49 40.88 42.46 $36.99 Notes: See supporting “Property Listing” notes on page 44. Office Portfolio 3Q 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 5.7% higher than expiring rents Wa terfront Va ca ncies 1,307,421 26.8% Cla s s A Va ca ncies 101,656 5.2% Expiring SF by Quarter Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Total Core Portfolio 31,243 21,355 110,617 28,201 191,416 31,243 21,355 110,617 28,201 191,416 Tota l Core Va ca ncies 2,296,376 15.8% Office Portfolio 3Q 2018 26 4Q 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% - 581 Ma in Street Woodbridge, NJ 200,000 0 0.0% - 333 Thorna ll Street Edis on, NJ 196,128 0 0.0% - 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% - 51 JFK Pa rkwa y Short Hills , NJ 260,741 0 0.0% - 101 JFK Pa rkwa y Short Hills , NJ 197,196 0 0.0% - 103 JFK Pa rkwa y Short Hills , NJ 123,000 0 0.0% - Total Class A Suburban 1,951,091 21,355 1.1% $28.44 $30.00 25.00 35.00 31.00 35.00 35.00 48.00 53.00 43.00 43.00 $29.73 Suburban 2018 Expirations Current Building Location Total SF SF % Total In-Place Rent Asking Rent 1 Gira lda Fa rms Ma dis on, NJ 154,417 0 0.0% - 7 Gira lda Fa rms Ma dis on, NJ 236,674 0 0.0% - 4 Ga teha ll Drive Pa rs ippa ny, NJ 248,480 14,257 5.7% 27.61 9 Ca mpus Drive Pa rs ippa ny, NJ 156,495 0 0.0% - 325 Columbia Turnpike Florha m Pa rk, NJ 168,144 0 0.0% - 200 Schultz Drive Red Ba nk, NJ 102,018 12,706 12.5% 29.59 201 Littleton Roa d Morris Pla ins , NJ 88,369 5,452 6.2% 20.45 3600 Route 66 Neptune, NJ 180,000 0 0.0% - 4 Ca mpus Drive Pa rs ippa ny, NJ 147,475 5,390 3.7% 25.78 6 Ca mpus Drive Pa rs ippa ny, NJ 148,291 0 0.0% - 1 Sylva n Wa y Pa rs ippa ny, NJ 150,557 0 0.0% - 3 Sylva n Wa y Pa rs ippa ny, NJ 147,241 0 0.0% - 5 Sylva n Wa y Pa rs ippa ny, NJ 151,383 0 0.0% - 7 Sylva n Wa y Pa rs ippa ny, NJ 145,983 0 0.0% - 7 Ca mpus Drive Pa rs ippa ny, NJ 154,395 800 0.5% 22.97 2 Hilton Court Pa rs ippa ny, NJ 181,592 0 0.0% - 8 Ca mpus Drive Pa rs ippa ny, NJ 215,265 12,784 5.9% 33.25 2 Dryden Wa y Pa rs ippa ny, NJ 6,216 0 0.0% - 100 Overlook Center Princeton, NJ 149,600 0 0.0% - 5 Va ughn Drive Princeton, NJ 98,500 0 0.0% - 1 River Center 1 Red Ba nk, NJ 122,594 0 0.0% - 1 River Center 2 Red Ba nk, NJ 120,360 0 0.0% - 1 River Center 3 & 4 Red Ba nk, NJ 194,518 59,228 30.4% 28.59 23 Ma in Street Holmdel, NJ 350,000 0 0.0% - 5 Wood Hollow Roa d Pa rs ippa ny, NJ 317,040 0 0.0% - Total Suburban 4,135,607 110,617 2.7% $28.54 Suburba n Va ca ncies 649,389 15.7% Total Core Office Portfolio 10,970,891 163,215 1.5% $31.01 Tota l Core Office Va ca ncies 2,058,466 18.8% Flex Park Portfolio 3,526,612 28,201 0.8% $16.77 Flex Pa rk Va ca ncies 237,910 6.7% Total Core Portfolio 14,497,503 191,416 1.3% $28.91 $34.00 34.00 28.00 26.00 29.50 29.00 20.00 26.00 26.00 26.00 31.00 31.00 31.00 31.00 26.00 31.00 31.00 16.50 30.00 29.00 29.50 29.50 29.50 13.00 26.50 $28.76 $32.43 $19.67 $30.55 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 0 0.0% - Ha rbors ide 1 Jers ey City, NJ 399,578 0 0.0% - 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% - Ha rbors ide 5 Jers ey City, NJ 977,225 24,545 2.5% 41.27 111 River Street Hoboken, NJ 566,215 0 0.0% - Total Waterfront 4,884,193 31,243 0.6% $41.53 $46.00 43.00 41.00 44.00 49.00 52.00 $47.28

Leasing Activity Percentage Leased Summary Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotals Non-Core TOTALS 72.9% 94.5% 82.6% 92.1% 83.2% 60.7% 82.0% 0.0% 0.0% (2.7%) 0.0% (0.8%) (15.8%) (1.6%) 0.3% 0.3% 1.7% 1.1% 0.9% (8.1%) 0.7% 73.2% 94.8% 84.3% 93.3% 84.2% 52.7% 82.7% 3,440,248 1,838,032 3,330,181 3,249,116 11,857,577 349,820 12,207,397 136,524 11,403 156,037 39,586 343,550 23,389 366,939 1,307,421 101,656 649,389 237,910 2,296,376 335,577 2,631,953 Summary of Leasing Transaction Activity For the three months ended September 30, 2018 Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotals Repos itioning Non-Core TOTALS 12 7 12 17 389,042 107,284 114,384 206,188 43,328 29,453 68,822 47,739 345,714 77,831 45,562 158,449 32,420 15,326 9,532 12,129 11.1 10.2 7.0 4.0 $47.37 42.15 30.78 20.42 $6.60 5.96 7.42 2.26 48 - 4 816,898 - 16,942 189,342 - 0 627,556 - 16,942 17,019 - 4,236 8.6 - 3.0 $37.56 - 28.55 $5.54 - 3.63 52 833,840 189,342 644,498 16,035 8.5 $37.38 $5.50 Notes: (1) Percentage leased values reflect both Plymouth Rock Management Co.’s recently executed lease at 581 Main Street as well as its lease at 1 River Center 3, of which 59,228 sf is expiring 11/10/18 and 29,540 sf is expiring 2/10/19. Suburban percentage leased excluding the 88,768 sf leased to Plymouth Rock would be 80.5%. (2) Inclusive of escalations. Office Portfolio 3Q 2018 27 Number of Total Sq. Ft. Sq. Ft. Renewed Average Weighted Avg. Wtd. Avg. Wtd. Avg. Costs Transactions Sq. Ft. New Leases and Other Retained Sq. Ft. Term (Yrs) Base Rent ($) (2 ) Sq. Ft. Per Year ($) Pct. Leased Impact of Impact of Pct. Leased Sq. Ft. Leased Sq. Ft. Leased Sq. Ft. 6/30/2018 Acquisition/Disposition Leasing Activity 9/30/2018 (1 ) Commercial Service Unleased

Leasing Rollforwards Rollforwards For the three months ended September 30, 2018 Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotals Repos itioning(1 ) Non-Core TOTALS 72.9% 94.5% 82.6% 92.1% 83.2% 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 - - (115,000) - - - (99,000) - (373,530) (102,045) (38,781) (166,851) (681,207) 389,042 107,284 114,384 206,188 816,898 15,512 5,239 75,603 39,337 4,884,193 1,951,091 4,135,607 3,526,612 14,497,503 3,576,772 1,849,435 3,486,218 3,288,702 12,201,127 73.2% 94.8% 84.3% 93.3% 84.2% (115,000) (99,000) 135,691 - 60.7% 82.0% - 842,086 15,454,589 - 511,439 12,675,875 - (133,300) - (94,873) - (60,299) (741,506) - 16,942 833,840 - (43,357) - 708,786 15,206,289 - 373,209 12,574,336 - 52.7% 82.7% (248,300) (193,873) 92,334 Rollforwards For the nine months ended September 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% - 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 - - (187,759) 35,000 - - (193,799) 35,000 (1,122,055) (247,910) (210,240) (404,554) 440,056 337,321 224,834 463,100 (681,999) 89,411 14,594 58,546 4,884,193 1,951,091 4,135,607 3,526,612 14,497,503 - 708,786 15,206,289 3,576,772 1,849,435 3,486,218 3,288,702 12,201,127 - 373,209 12,574,336 73.2% 94.8% 84.3% 93.3% 84.2% - 52.7% 82.7% 14,650,262 - 2,460,040 12,829,543 - 1,812,836 (152,759) - (1,751,254) (158,799) - (1,306,470) (1,984,759) 1,465,311 - 87,751 (519,448) - (127,806) (215,557) 85.6% 17,110,302 14,642,379 (1,904,013) (1,465,269) (2,200,316) 1,553,062 (647,254) 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 3Q 2018 28 Pct. Sq. Ft. Inventory Leased Sq. Ft. Net Sq. Ft. Pct. Leased Inventory Leased Acquired/ Acquired/ Expiring/ Incoming Leasing Inventory Leased Leased 12/31/17 12/31/17 12/31/17 Disposed Disposed Adj. Sq. Ft. Sq. Ft. Activity 09/30/18 09/30/18 09/30/18 Sq. Ft. Inventory Leased Sq. Ft. Net Sq. Ft. Pct. Pct. Leased Inventory Leased Acquired/ Acquired/ Expiring/ Incoming Leasing Inventory Leased Leased 06/30/18 06/30/18 06/30/18 Disposed Disposed Adj. Sq. Ft. Sq. Ft. Activity 09/30/18 09/30/18 09/30/18

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: 4 6 10 10 30 2 32 31,243 21,355 110,617 28,201 191,416 10,554 201,970 0.3 0.2 0.9 0.2 1.6 0.1 1.7 1,224,959 590,461 3,003,075 450,579 5,269,074 0 5,269,074 39.21 27.65 27.15 15.98 27.53 0.00 26.09 0.3 0.2 0.9 0.1 1.5 0.0 1.5 14 22 31 50 117 7 124 274,889 163,844 433,976 455,869 1,328,578 62,959 1,391,537 2.2 1.3 3.5 3.7 10.7 0.5 11.2 11,944,286 4,842,432 12,066,358 9,109,702 37,962,778 1,679,631 39,642,409 43.45 29.56 27.80 19.98 28.57 26.68 28.49 3.5 1.4 3.5 2.6 11.0 0.5 11.5 6 25 26 47 104 8 112 45,014 226,832 164,276 337,752 773,874 29,818 803,692 0.4 1.9 1.3 2.8 6.4 0.2 6.6 1,670,443 7,863,367 4,076,809 6,205,262 19,815,881 732,173 20,548,054 37.11 34.67 24.82 18.37 25.61 24.55 25.57 0.5 2.3 1.2 1.8 5.8 0.2 6.0 15 16 23 38 92 7 99 358,951 125,149 195,454 295,665 975,219 80,040 1,055,259 2.9 1.0 1.6 2.4 7.9 0.7 8.6 12,891,943 5,368,046 5,516,088 4,858,990 28,635,067 1,987,896 30,622,963 35.92 42.89 28.22 16.43 29.36 24.84 29.02 3.7 1.6 1.6 1.4 8.3 0.6 8.9 9 12 27 42 90 7 97 82,341 145,359 251,558 354,302 833,560 50,897 884,457 0.7 1.2 2.1 2.9 6.9 0.4 7.3 2,677,363 4,595,150 6,734,550 6,259,110 20,266,173 1,309,185 21,575,358 32.52 31.61 26.77 17.67 24.31 25.72 24.39 0.8 1.3 2.0 1.8 5.9 0.4 6.3 See supporting “Expirations” notes on page 44. Office Portfolio 3Q 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 Non-Core TOTAL – 2023 2024 AND THEREAFTER 11 15 33 41 100 0 100 338,909 267,773 884,846 577,909 2,069,437 0 2,069,437 2.8 2.2 7.2 4.7 16.9 0.0 16.9 12,073,600 9,936,390 21,726,661 9,129,692 52,866,343 0 52,866,343 35.62 37.11 24.55 15.80 25.55 0.00 25.55 3.5 2.9 6.3 2.7 15.4 0.0 15.4 Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotal Non-Core TOTAL – 2024 AND THEREAFTER 59 43 68 70 240 4 244 2,308,901 889,747 1,291,578 1,209,657 5,699,883 115,552 5,815,435 18.8 7.2 10.7 10.0 46.7 1.0 47.7 80,478,854 32,234,009 35,638,371 22,769,797 171,121,031 2,899,122 174,020,153 34.86 36.23 27.59 18.82 30.02 25.09 29.92 23.4 9.3 10.2 6.7 49.6 0.8 50.4 Expirations by Type Year of Expiration/Market TOTALS BY TYPE Wa terfront Cla s s A Suburba n Suburba n Flex Pa rks Subtotal Non-Core Totals/Weighted Average 118 139 218 298 773 35 808 3,440,248 1,840,059 3,332,305 3,259,355 11,871,967 349,820 12,221,787 28.1 15.0 27.3 26.7 97.1 2.9 100.0 122,961,448 65,429,855 88,761,912 58,783,132 335,936,347 8,608,007 344,544,354 35.74 35.56 26.64 18.04 28.30 24.61 $28.19 35.7 19.0 25.7 17.1 97.5 2.5 100.0 Notes: See supporting “Expirations” notes on page 44. Office Portfolio 3Q 2018 31 Percentage of Total Average Annualized Base Net Rentable Area Leased Square Feet Annualized Base Rent Per Net Rentable Percentage of Annual Number of Subject to Expiring Represented by Rental Revenue Under Square Foot Represented Base Rent Under Leases Expiring (1 ) Leases (Sq. Ft.) (2 ) Expiring Leases (%) Expiring Leases ($) (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 barrier to entry, 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: 3Q 2018 NAV was approximately $1.84B, comprised of $255M of Rockpoint equity and $1.58B of MC equity ($15.70/MC share) Commenced construction on Building 9 at Port Imperial, a 313-unit community in close proximity to the ferry terminal and adjacent to the successful RiverHouse 11 community Adam Freindlich! Commenced construction on Chase III at Overlook Ridge, a 326-unit development that is the newest phase of our master-planned community in Malden, MA and adjacent to 1,386 stabilized Roseland apartments Lease-Up Communities 2017: stabilized 1,162 apartments Lease-Up Communities 2018: in 3Q, commenced leasing activities at RiverHouse 11 (295 units) and 145 Front Phase II (128 units), as well as continued momentum on 1Q and 2Q deliveries at Signature Place (197 units), Metropolitan Lofts (59 units), Portside 5/6 at East Pier (296 units) 145 Front Phase I (237 units) As of October 29, our lease-up portfolio—solely from 2018 deliveries of 1,212 units—was 74.4% leased As of October 29, RiverHouse 11, which commenced leasing activity in July, achieved stabilization and is currently 95.6% leased Acquired Prudential’s membership interest in Marbella, thereby reducing Roseland’s subordinate interests to 130 apartments, (a 96% reduction compared to 3,025 units at year-end 2015) Rockpoint has an additional $65M capital commitment to Roseland Pipeline of 10,342 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 1,794 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 8,409 10,342 - 9,327 9,424 15.4% 10,996 7,755 17.9% Roseland Residential 3Q 2018 33 3Q 2018YE 2018YE 2019

De2ve0l1o5pm/2e0n1t 6AcAticvhitiyevanedmCeansthsF-loDweGverolowpthment $ 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% 97.8% 97.4% 97.2% 97.6% 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 - Pha s e I Total 1Q 2018 Deliveries 100.0% 25.0% 100.0% 91.0% 85.8% 94.9% 66.7% 77.7% 1Q 2018 1Q 2018 1Q 2018 197 59 237 493 6.68% 6.72% 6.21% 6.46% $3.8 1.2 3.8 $8.8 $1.9 0.1 2.2 $4.2 2Q 2018 Deliveries Ports ide 5/6 Total 2Q 2018 Deliveries 100.0% 100.0% 73.3% 73.3% 2Q 2018 296 296 6.40% 6.40% $7.6 $7.6 $4.3 $4.3 3Q 2018 Deliveries 145 Front Street a t City Squa re - Pha s e II RiverHous e 11 a t Port Imperia l Total 3Q 2018 Deliveries 100.0% 100.0% 100.0% 15.6% 95.6% 71.4% 2Q 2018 3Q 2018 128 295 423 6.21% 6.60% 6.48% $2.1 8.0 $10.1 $1.2 4.7 $5.9 4Q 2018 Deliveries Ma rriott Hotels a t Port Imperia l (1 ) Total 4Q 2018 Deliveries 90.0% 90.0% 4Q 2018 372 372 9.48% 9.48% $14.5 $14.5 $9.0 $9.0 2020 Deliveries Port Imperia l - Building 9 Cha s e III PI North – Riverwa lk C Total 4Q 2020 Deliveries 100.0% 100.0% 40.0% 78.4% 4Q 2020 4Q 2020 4Q 2020 313 326 360 999 6.33% 6.05% 5.98% 6.11% $9.0 6.0 11.2 $26.2 $4.5 2.9 2.2 $9.6 (2 ) Total In-Construction 127.40% 1,794 6.90% $50.8 $24.5 Notes: (1) The Residence Inn is projected to open in 4Q 2018. The Autograph Collection is projected to open in early 2019. (2) Projected stabilized yield on in-construction portfolio without the Marriott Hotels at Port Imperial is 6.22 percent. NOI amounts are projected only. See Information About Net Operating Income (NOI) on page 46. Roseland Residential 3Q 2018 34 Total 89.0% 3,745 6.73% $93.7 $46.7 ProjectedProjected RRT Nominal % Leased As of: Actual/Projected Projected Stabilized Share of Stabilized Ownership As of 10/29/2018 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 $205,665 1,149,158 36,100 295,287 310,907 $133,487 782,556 26,193 272,622 478,812 1,997,117 (71,856) 1,925,261 1,693,670 (55,087) 1,638,583 36,589 1,961,850 2,634 1,641,217 5,934 6,108 7,717 216,902 1,774 50,074 1,957 6,053 237,321 1,248 42,974 2,787 $2,246,208 $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 $995,471 23,000 58,970 5,633 2,385 $769,743 24,924 79,034 3,870 1,481 1,085,459 879,052 255,091 41,140 864,518 159,884 19,069 879,703 $2,246,208 $1,937,708 Roseland Residential 3Q 2018 35 3Q 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 $21,735 1,194 4,310 3,052 650 $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 Total revenues $30,941 $24,780 $23,860 $24,280 $24,823 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 $3,917 1,497 6,650 4,317 2,891 10,370 $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 Total expenses $29,642 $23,475 $22,853 $24,260 $27,786 Operating Income $1,299 $1,305 $1,007 $20 ($2,963) OTHER (EXPENSE) INCOME Interes t expens e Interes t a nd other inves tment income (los s ) Equity in ea rnings (los s ) of uncons olida ted joint ventures Ga in on cha nge of control of interes ts Rea lized ga ins (los s es ) a nd unrea lized los s es on dis pos ition Ga in on s a le of inves tment in uncons olida ted joint venture Ga in (los s ) from ea rly extinguis hment of debt, net Total other income (expense) ($4,489) 1 (1,401) 14,217 (6,330) - - ($2,668) 3 (961) - - - - ($1,895) 412 1,712 - - - - ($1,982) (29) (1,390) - - - (182) ($2,164) 42 (2,591) - 2,915 (1,430) - $1,998 ($3,626) $229 ($3,583) ($3,228) Net income (loss) $3,297 ($2,321) $1,236 ($3,563) ($6,191) Noncontrolling interes t in cons olida ted joint ventures Redeema ble noncontrolling interes t Net income (loss) available to common shareholders $451 (3,330) $95 (2,534) $118 (2,344) $104 (2,227) $67 (2,227) $418 ($4,760) ($990) ($5,686) ($8,351) Roseland Residential 3Q 2018 36 3Q 2018 2Q 2018 1Q 2018 4Q 2017 3Q 2017

Jersey City Residential Calculator Jersey City is a compelling financial alternative to Manhattan, providing significant income advantages after taxes and rent. Resident Resident Annual Household Income Less: Income Tax (1) Federal FICA State Local Subtotal: Income Tax $150,000 $150,000 - - $200,000 $200,000 - - $250,000 $250,000 - - 20.2% 6.7% 6.3% 3.6% 36.8% ($30,290) (10,111) (9,478) (5,354) ($55,232) 20.2% 6.7% 5.0% 0.0% 31.9% ($30,290) (10,111) (7,429) 0 - - (2,049) (5,354) ($7,403) - - 21.6% 100.0% 13.4% 22.8% 5.4% 6.4% 3.6% 38.3% ($45,690) (10,836) (12,803) (7,178) ($76,506) 22.8% 5.4% 5.3% 0.0% 33.6% ($45,690) (10,836) (10,614) 0 - - (2,189) - - 17.1% 25.3% 4.33% 6.48% 3.60% 39.7% ($63,190) (10,836) (16,200) (9,002) ($99,227) 25.3% 4.3% 5.5% 0.0% 35.1% ($63,190) (10,836) (13,799) 0 - - (2,401) (9,002) ($11,403) - - 14.8% 100.0% 11.5% (7,178) 100.0% ($47,829) ($67,139) ($9,367) 12.2% ($87,824) Less: Rent Class A Apartment 1 Bedroom 750 SF Disposable Income $80 PSF (60,000) $50 PSF (37,500) ($22,500) 37.5% $80 PSF (60,000) $50 PSF (37,500) ($22,500) 37.5% $80 PSF (60,000) $50 PSF (37,500) ($22,500) 37.5% Notes: (1) Reflects 2018 tax rates for single filers. Roseland Residential 3Q 2018 37 $33,903 37.3% 49.9% $124,676 36.3% $90,773 $31,867 50.2% 47.7% $95,361 31.7% $63,494 $29,903 86.0% 43.1% $64,671 23.2% $34,768 $250,000 Household New York City Jersey City Delta $200,000 Household New York City Jersey City Delta Resident Resident $150,000 Household New York City Jersey City Delta Resident Resident

Operating & Lease-Up Communities $ in thousands, except per home 3Q 2018 Percentage Leased (Stabilized): 96.4% 3Q 2018 Avg. Revenue Per Home (Stabilized): $2,659 Notes: * See Information About Net Operating Income on page 46. See supporting “Operating & Lease-Up Communities” notes on page 44. Roseland Residential 3Q 2018 38 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 Ma rbella (Pos t Acquis ition) Jers ey City, NJ 74.27% 412 369,515 897 2003 Consolidated 96.42% 2,963 2,700,966 912 Uncons olida ted Joint Ventures (2 ) RiverTra ce a t Port Imperia l Wes t New York, NJ 22.50% 316 295,767 936 2014 Ma rbella (Incr. Pre Acquis ition) (3 ) Jers ey City, NJ 24.27% - - - - 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 (4 ) 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 Crys ta l Hous e Arlington, VA 25.00% 825 738,786 895 1962 Metropolita n a t 40 Pa rk(5 ) Morris town, NJ 12.50% 130 124,237 956 2010 Joint Ventures 44.33% 2,863 2,322,244 811 Operating Highlights Average Average Percentage Percentage Revenue Revenue Leased Leased Per Home Per Home NOI* NOI* NOI* YTD Debt 3Q 2018 2Q 2018 3Q 2018 2Q 2018 3Q 2018 2Q 2018 3Q 2018 Balance 96.5% 97.5% $1,993 $1,974 $2,243 $2,450 $7,114 $100,000 97.6% 97.6% 2,134 2,134 2,259 2,484 7,101 135,750 97.5% 94.3% 2,123 2,103 348 455 1,638 25,517 98.0% 95.5% 1,808 1,795 592 409 1,401 0 96.6% 97.1% 3,598 3,369 3,782 3,534 10,833 165,000 95.6% 98.3% 2,757 2,721 992 1,050 3,002 58,998 96.3% 98.1% 3,375 3,226 482 585 1,498 41,000 95.4% 97.3% 3,211 3,189 1,735 - 1,735 131,000 96.7% 97.2% $2,567 $2,510 $12,433 $10,967 $34,322 $657,265 96.8% 99.1% $3,217 $3,153 $1,750 $1,807 $5,358 $82,000 - - - - 820 2,412 5,802 - 95.5% 97.1% 3,539 3,519 2,167 2,034 6,167 74,690 96.5% 94.3% 2,229 2,203 494 380 1,260 29,957 97.9% 99.3% 2,911 2,717 3,561 4,496 12,417 191,732 91.0% 96.8% 2,729 2,677 1,799 1,918 5,766 98,902 96.8% 96.5% 2,139 2,053 3,048 2,772 8,998 163,661 94.6% 96.9% 3,371 3,331 688 745 2,251 36,225 96.1% 97.5% $2,754 $2,658 $14,327 $16,564 $48,019 $677,167 Total Residential - Stabilized 70.82% 5,826 5,023,210 862 96.4% 97.4% $2,659 $2,583 $26,760 $27,531 $82,341 $1,334,432 Lease-up Communities 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 145 Front a t City Squa re - Pha s e I Worces ter, MA 100.00% 237 192,995 814 2018 Ports ide a t Ea s t Pier - 5/6 Ea s t Bos ton, MA 100.00% 296 235,078 794 2018 Consolidated 100.00% 730 631,789 865 Uncons olida te d Joint Ve nture s Metropolita n Lofts Morris town, NJ 25.00% 59 54,683 927 2018 Joint Ventures 25.00% 59 54,683 927 78.2% 50.8% $3,303 NA $42 ($182) ($140) $41,769 62.0% 41.8% 1,690 NA (239) (279) (518) 35,545 64.2% 54.7% 2,640 NA 332 (68) 264 69,787 67.3% 49.5% $2,510 $0 $135 ($529) ($394) $147,101 84.7% 49.2% $3,363 NA $146 ($79) $67 $13,145 84.7% 49.2% $3,363 $0 $146 ($79) $67 $13,145 Total Residential - Operating Communities (6 ) 73.64% 6,615 5,709,682 863 93.1% 91.6% $2,649 $2,275 $27,041 $26,923 $82,014 $1,494,678

Operating Communities - Commercial $ in thousands Summary of Consolidated RRT NOI by Type (unaudited): Tota l Cons olida ted Res identia l - Opera ting Communities - from p. 38 Tota l Cons olida ted Res identia l - Lea s e-Up Communities - from p. 38 Tota l Cons oilda ted Commercia l - (from ta ble a bove) $12,433 135 778 $10,967 (529) 791 $34,322 (394) 2,261 Tota l NOI from Cons olida ted Properties (excl uncons ol. JVs /s ubordina ted interes ts ): NOI (los s ) from s ervices , la nd/development/repurpos ing & other a s s ets $13,346 (359) $11,229 (263) $36,189 (1,504) TOTAL NOI for RRT (see Information About Net Operating Income on p. 46)*: $12,987 $10,966 $34,685 Notes: * See Information About Net Operating Income on page 46. Roseland Residential 3Q 2018 39 3Q 2018 2Q 2018 YTD 3Q 2018 RentableYear Operating Commercial Location Ownership Spaces SF Complete Cons olida te d Port Imperia l Ga ra ge South Weeha wken, NJ 70.00% 800 320,426 2013 Port Imperia l Reta il South Weeha wken, NJ 70.00% 18,071 2013 Port Imperia l Ga ra ge North Weeha wken, NJ 100.00% 786 304,617 2015 Port Imperia l Reta il North Weeha wken, NJ 100.00% 8,400 2015 Consolidated 84.41% 651,514 Subordina te Inte re s ts Shops a t 40 Pa rk Morris town, NJ 12.50% 50,973 2010 Riverwa lk a t Port Imperia l Wes t New York, NJ 20.00% 30,745 2008 Subordinate Interests 15.32% 81,718 Operating Highlights Percentage Percentage Leased Leased NOI* NOI* NOI* YTD Debt 3Q 2018 2Q 2018 3Q 2018 2Q 2018 3Q 2018 Balance NA NA $407 $405 $1,135 $32,600 81.6% 81.6% 99 76 242 4,000 NA NA 202 236 659 0 100.0% 100.0% 70 74 225 0 87.4% 87.4% $778 $791 $2,261 $36,600 69.0% 69.0% $254 $225 $712 $6,067 58.0% 58.0% 142 144 397 0 64.9% 64.9% $396 $369 $1,109 $6,067 Total Commercial 76.71% 733,232 84.9% 84.9% $1,174 $1,160 $3,370 $42,667

In-Construction Communities $ in thousands RRT’s share of projected stabilized NOI after debt service will approximate $24.5 million (approximates to FFO) Project Capitalization - Total Capital as of 3Q 2018 Development Schedule Third Party Capital Projected Stabilized NOI Projected Stabilized Yield Apartment Homes/Keys MCRC Capital Dev Costs (2 ) Debt Balance MCRC Capital Initial Project Debt (1 ) Community Location Ownership Costs Start Occupancy Stabilization Cons olida te d Ma rriott Hotels a t Port Imperia l 145 Front a t City Squa re - Pha s e II RiverHous e 11 a t Port Imperia l Building 9 a t Port Imperia l (3 ) Cha s e III a t Overlook Ridge Consolidated Joint Ve nture s Weeha wken, NJ Worces ter, MA Weeha wken, NJ Weeha wken, NJ Ma lden, MA 90.00% 100.00% 100.00% 100.00% 100.00% 97.41% 372 128 295 313 326 1,434 153,135 33,865 121,258 142,568 99,882 $550,708 94,000 20,600 75,213 92,000 62,000 $343,813 55,225 13,265 46,045 50,568 37,882 $202,985 3,910 0 0 0 0 $123,924 32,349 111,173 29,665 14,396 $311,507 $68,928 19,198 67,427 0 0 $51,086 13,151 43,746 29,665 14,396 $152,044 3Q 2015 3Q 2015 1Q 2016 3Q 2018 3Q 2018 4Q 2018 1Q 2018 3Q 2018 4Q 2020 4Q 2020 4Q 2019 3Q 2019 3Q 2019 4Q 2021 4Q 2021 14,518 2,059 8,000 9,028 6,043 $39,648 9.48% 6.08% 6.60% 6.33% 6.05% 7.12% $3,910 $155,553 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 59,023 $59,023 0 23,609 $23,609 4Q 2017 4Q 2020 1Q 2022 11,150 $11,150 5.98% 5.98% $0 (4 ) Total In-Construction Communities 85.89% 1,794 $737,208 $455,813 $232,785 $48,610 $370,530 $155,553 $175,653 $50,798 6.89% 2018 MCRC Rema ining Ca pita l 2019 MCRC Rema ining Ca pita l 2020 MCRC Rema ining Ca pita l Total Remaining Capital $27,062 180,437 149,893 $357,392 $9,188 141,179 149,893 $300,260 $17,874 39,258 0 $57,132 Leasing Status Units 237 128 197 296 59 295 1,212 % Leased NOI ($239) 0 42 332 144 195 $474 145 Front a t City Squa re - Pha s e I 145 Front a t City Squa re - Pha s e II Signa ture Pla ce Ports ide 5/6 Metropolita n Lofts RiverHous e 11 a t Port Imperia l Total 66.7% 15.6% 85.8% 73.3% 94.9% 95.6% 74.4% Notes: NOI amounts are projected only. See Information About Net Operating Income (NOI) on page 46. See supporting “In-Construction Communities” notes on page 44. Roseland Residential 3Q 2018 40

Future Start Communities As of September 30, 2018, the Company had a future development portfolio of 10,342 residential units 2018/2019 priority starts of 2,347 are located in close proximity to operating RRT assets Current 2018/2019 Priority Starts Location Short Hills, NJ Jersey City, NJ Jersey City, NJ Jersey City, NJ Apartments 200 718 750 679 2,347 Ownership 100.00% 100.00% 85.00% 100.00% 95.21% Target Start 233 Canoe Brook Road – Residential 25 Christopher Columbus Urby at Harborside - II Plaza 8 2018/2019 Total Priority Starts 4Q 2018 4Q 2018 2019 2019 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 2,347 1,143 10,342 150 Monument Road Bala Cynwyd, PA 206 Subtotal - Notes: See supporting “Future Start Communities” notes on page 44. Roseland Residential 3Q 2018 41 Freehold, NJ 400 (repurposing) Parsippany, NJ 345 urposing IIIA Essex County, NJ 140 urposing IIIB Essex County, NJ 140 ortheast Corridor 1,025 Malden, 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 2019 Possible Starts Total Future Start Communities

Residential Equity Requirements As summarized in the table below, Mack-Cali is planning on and expects to have excess capital source availability to achieve the following development objectives: $ in thousands Complete Roseland’s in-construction portfolio of 1,794 units Complete Roseland’s funding requirement for 2018/2019 Priority Starts comprising 2,347 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 1,794 $366,678 $300,260 $66,418 Les s : Exis ting JV Pa rtner Commitments Roseland Capital Requirement - Remaining USE: Priority Starts (9,286) $57,132 (A) Repres ents four ta rget 2018 a nd 2019 s ta rts in our core geogra phies Repres ents the Compa ny's exis ting la nd equity in Proba ble Sta rts (~$54,000/unit) Repres ents third pa rty ca pita l commitments (Urby II) Priority Sta rts 2,347 $1,279,949 $819,909 $460,040 Les s : La nd Equity/Fundings to Da te (132,250) Les s : Exis ting JV Pa rtner Commitments Roseland Capital Obligation (28,720) $299,070 (B) (A+B) 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 Building 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 $65,000 100,000 Dis pos itions 160,000 New Project-level Joint Ventures 123,370 Excess Capital Source Potential (1 ) Notes: (1) Represents capital sources prior to reinvestment of Roseland cash flow generation and 1031 proceeds. Roseland Residential 3Q 2018 42 $92,168 Total Roseland Capital Sources $448,370 Total Roseland Capital Uses 4,141 $356,202 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 $213,055 for Office/Corp. and $295,287 for Roseland as of 3Q 2018. (2) Includes mark-to-market lease intangible net assets of $98,597 and mark-to-market lease intangible net liabilities of $43,565 as of 3Q 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 2.16 percent as of September 28, 2018, plus the applicable spread. (3) Excludes amortized deferred financing costs primarily pertaining to the Company’s unsecured revolving credit facility which amounted to $758 thousand for the three months ended September 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 BB+/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. 2018/2019 Debt Maturities - (Page 21) (1) Construction loan LTVs are calculated using the respective maximum loan balance. (2) The Company has entered into an agreement to sell Park Square. The transaction is expected to close in 4Q 2018. (3) Executed term sheets for permanent financing. 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 Transaction Activity - (Page 23) 3Q 2018 $687 4,128 4,815 (659) $4,156 (1) Acquisitions list gross costs; dispositions list gross sales proceeds. (2) Weighted average cap rate calculated using forward 12-month NOI at period of sale. (3) Price Per SF calculation includes 1-11 Martine, a 82,000 SF condo space that did not generate income since its acquisition in 2Q 2016. 3Q 2018 43

Appendix - Continued Property Listing - (Page 25) (1) Excludes non-core holdings targeted for sale at 708,786 SF; excludes consolidated repositionings taken offline totaling 465,860 SF. Total consolidated office portfolio of 15,672,149 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 September 2018 billings times 12. For leases whose rent commences after October 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. Top 15 Tenants - (Page 29) (1) Annualized base rental revenue is based on actual September 2018 billings times 12. For leases whose rent commences after October 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) 9,356 square feet expire in 2019; 33,363 square feet expire in 2021; 388,207 square feet expire in 2027. (5) 650 square feet expire in 2018; 295,922 square feet expire in 2032. (6) 59,228 square feet expire in 2018; 29,540 square feet expire in 2019; 129,786 square feet expire in 2031. (7) 66,606 square feet expire in 2024; 54,341 square feet expire in 2026. (8) 19,485 square feet expire in 2019; 17,855 square feet expire in 2021; 38,930 square feet expire in 2023; 40,368 square feet expire in 2024; 20,395 square feet expire in 2026; 15,408 square feet expire in 2027. (9) 82,936 square feet expire in 2026; 56,360 square feet expire in 2030. 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 footage leased to commercial tenants Square footage used for corporate offices, management offices, building use, retail tenants, food services, other ancillary service tenants and occupancy adjustments Square footage unleased Total net rentable square footage (excluding ground leases) Square Feet 12,207,397 366,939 2,631,953 15,206,289 (3) Annualized base rental revenue is based on actual September 2018 billings times 12. For leases whose rent commences after October 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 September 30, 2018 aggregating 9,771 square feet and representing annualized base rent of $256,833 for which no new leases were signed. Operating & Lease-up Communities - (Page 38) (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) Unconsolidated joint venture income represented at 100% venture NOI. See Information on Net Operating Income (NOI) on page 46. (3) Incremental 50% interest acquired on August 2, 2018. (4) Excludes proceeds from the $2.6 million dollar tax credit in 1Q 2018. (5) As of September 30, 2018 Priority Capital included Metropolitan at $20,914 (Prudential). (6) Excludes approximately 83,083 SF of ground floor retail. In-Construction Communities - (Page 40) (1) Represents maximum loan proceeds. (2) Represents development costs funded with debt or capital as of September 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 6.22 percent. Future Start Communities - (Page 41) (1) Currently approved for approximately 290,000 square feet of office space. (2) Roseland has signed an acquisition agreement, subject to certain conditions. 3Q 2018 44

Global Definitions Average Revenue Per Home: Calculated as total apartment revenue for the quarter ended Operating Communities: Communities that have achieved Project Stabilization. September 30, divided by the average percent occupied for the quarter ended September 30, 2018, divided by the number of apartments and divided by three. Consolidated Operating Communities: Wholly owned communities and communities Predevelopment Communities: Communities where the Company has commenced whereby the Company has a controlling interest. predevelopment activities that have a near-term projected project start. Class A Suburban: Long-term hold office properties in targeted submarkets; formerly Project Completion: As evidenced by a certificate of completion by a certified architect or defined as Urban Core. 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 Yield: Represents Projected Stabilized Residential NOI divided by Company. Total Costs. See following page for “Projected Stabilized Residential NOI” definition. Identified Repurposing Communities: Communities not currently owned by RRT, which Repurposing Communities: Commercial holdings of the Company which have been have been identified for transfer from Mack-Cali to RRT for residential repurposing. targeted for rezoning from their existing office to new multi-family use and have a likelihood of achieving desired rezoning and project approvals. In-Construction Communities: Communities that are under construction and have not yet Subordinated Joint Ventures: Joint Venture communities where the Company's commenced initial leasing activities. ownership distributions are subordinate to payment of priority capital preferred returns. Lease-Up Communities: Communities that have commenced initial operations but have Suburban: Long-term hold office properties (excluding Class A Suburban and Waterfront locations); formerly defined as Suburban Core not yet achieved Project Stabilization. MCRC Capital: Represents cash equity that the Company has contributed or has a future Third Party Capital: Capital invested by third parties and not Mack-Cali. obligation to contribute to a project. Net Asset Value (NAV): The metric represents the net projected value of the Company’s Total Costs: Represents full project budget, including land and developer fees, and interest after accounting for all priority debt and equity payments. The metric includes capital invested by the Company. interest expense through Project Completion. Non-Core: Properties designated for eventual sale/disposition or repositioning/redevelopment. Waterfront: Office assets located on NJ Hudson River waterfront. 3Q 2018 45

Information About Net Operating Income (NOI) $ in thousands (unaudited) Reconciliation of Net Income to Net Operating Income (NOI) Net Income ($1,608) $3,297 $1,689 $3,822 ($2,321) $1,501 $51,666 $2,212 $53,878 Deduct: Rea l es ta te s ervices income Interes t a nd other inves tment los s (income) Equity in (ea rnings ) los s of uncons olida ted joint ventures Ga in on cha nge of control of interes ts Rea lized (ga ins ) los s es a nd unrea lized los s es on dis pos ition (Ga in) on s a le of inves tment in uncons olida ted joint ventures (Ga in) los s from ea rly extinguis hment of debt, net (122) (850) (714) - 2,772 - - (4,310) (1) 1,401 (14,217) 6,330 - - (4,432) (851) 687 (14,217) 9,102 - - (104) (638) (909) - (1,010) - - (3,970) (3) 961 - - - - (4,074) (641) 52 - (1,010) - - (460) (2,204) (1,483) - (56,424) - 10,289 (12,707) (11) 650 (14,217) 6,330 - - (13,167) (2,215) (833) (14,217) (50,094) - 10,289 Add: Rea l es ta te s ervices expens es Genera l a nd a dminis tra tive (1 ) Deprecia tion a nd a mortiza tion Interes t expens e - 4,400 10,040 45,813 21,094 83 8,729 35,443 16,605 4,317 1,311 10,370 4,489 68 10,401 34,132 16,331 4,292 2,058 7,281 2,668 4,360 12,459 41,413 18,999 227 32,311 104,116 51,116 13,469 5,500 24,407 9,052 13,696 37,811 128,523 60,168 Net Operating Income (NOI) $60,338 $12,987 $73,325 $62,093 $10,966 $73,059 $189,154 $34,685 $223,839 Definition of: Net Operating Income (NOI) NOI represents total revenues less total operating expenses, as reconciled to net income above. The Company considers NOI to be a meaningful non-GAAP financial measure for making decisions and assessing unlevered performance of its property types and markets, as it relates to total return on assets, as opposed to levered return on equity. As properties are considered for sale and acquisition based on NOI estimates and projections, the Company utilizes this measure to make investment decisions, as well as compare the performance of its assets to those of its peers. NOI should not be considered a substitute for net income, and the Company’s use of NOI may not be comparable to similarly titled measures used by other companies. The Company calculates NOI before any allocations to noncontrolling interests, as those interests do not effect the overall performance of the individuals assets being measured and assessed. Notes: (1) Adjustment reflects non-real estate overhead general and administrative expense. 3Q 2018 46 YTD 3Q 2018 Office/Corp Roseland Total 2Q 2018 Office/Corp Roseland Total 3Q 2018 Office/Corp Roseland Total

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 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 3Q 2018 47

DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS The Company considers portions of this information, including the documents incorporated by reference, to be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of such act. Such forward-looking statements relate to, without limitation, our future economic performance, plans and objectives for future operations and projections of revenue and other financial items. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “potential,” “projected,” “should,” “expect,” “anticipate,” “estimate,” “target”, “continue” or comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which we cannot predict with accuracy and some of which we might not even anticipate. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, the Company can give no assurance that such expectations will be achieved. Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Among the factors about which the Company has made assumptions are: -risks and uncertainties affecting the general economic climate and conditions, which in turn may have a negative effect on the fundamentals of the Company’s business and the financial condition of the Company’s tenants and residents; -the value of the Company’s real estate assets, which may limit the Company’s ability to dispose of assets at attractive prices or obtain or maintain debt financing secured by our properties or on an unsecured basis; -the extent of any tenant bankruptcies or of any early lease terminations; -The Company’s ability to lease or re-lease space at current or anticipated rents; -changes in the supply of and demand for the Company’s properties; -changes in interest rate levels and volatility in the securities markets; -The Company’s ability to complete construction and development activities on time and within budget, including without limitation obtaining regulatory permits and the availability and cost of materials, labor and equipment; -forward-looking financial and operational information, including information relating to future development projects, potential acquisitions or dispositions, and projected revenue and income; -changes in operating costs; -The Company’s ability to obtain adequate insurance, including coverage for terrorist acts; -The Company’s credit worthiness and the availability of financing on attractive terms or at all, which may adversely impact our ability to pursue acquisition and development opportunities and refinance existing debt and the Company’s future interest expense; -changes in governmental regulation, tax rates and similar matters; and -other risks associated with the development and acquisition of properties, including risks that the development may not be completed on schedule, that the tenants or residents will not take occupancy or pay rent, or that development or operating costs may be greater than anticipated. For further information on factors which could impact us and the statements contained herein, see Item 1A: Risk Factors in MCRC’s Annual Report on Form 10-K for the Year ended December 31, 2017. We assume no obligation to update and supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise. This Supplemental Operating and Financial Data is not an offer to sell or solicitation to buy any securities of the Mack-Cali Reality Corporation (“MCRC”). Any offers to sell or solicitations of the MCRC shall be made by means of a prospectus. The information in this Supplemental Package must be read in conjunction with, and is modified in its entirety by, the 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. 3Q 2018 48