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 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 on the high barrier-to-entry Hudson growth through all economic cycles. Company Objectives River waterfront targeting cash flow $5.3 bi l l i on $3.6 bi l l i on $40.8 mi l l i on $0.40 $26.4 mi l l i on $5.1 bi l l i on $3.6 bi l l i on $45.3 mi l l i on $0.45 $21.6 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 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) (1) % Commenced Occupa ncy (Excl . Non-Core) 11.6 mi l l i on 43 80.9% 14.8 mi l l i on 116 83.2% holdings as our development pipeline planned starts is put into service. of active construction projects and 78.1% 80.4% GAAP Renta l Ra te Rol l -Up (Excl . Non-Core) (2) Ca s h Renta l Ra te Rol l -Up (Excl . Non-Core) (2) Avera ge In-Pl a ce Rent Per Squa re Foot 18.3% 15.1% 9.4% 2.9% $34.83 $31.24 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 Uni ts /Keys 6,879 96.3% $2,737 2,319 7,038 95.9% $2,673 2,321 99 Wood Avenue South – Iselin, NJ Acquired February 2019 (1) In 4Q 2018, the core office portfolio was 80.4% leased excluding the Flex portfolio. (2) Excludes the impact of transaction activity in the Flex portfolio, which was sold on March 29, 2019. CLI Company Highlights 1Q 2019 4 1Q 20194Q 2018

Company Achievements 1Q 2019 Performance Highlights • • • • Achieved Core FFO of $40.8 million, or $0.40 per share Produced AFFO of $26.4 million Office: Leased 203,965 square feet of office space; finished 1Q 2019 at 80.9% leased (excluding non-core) Residential: The operating portfolio, excluding lease-up properties, finished 1Q at 96.3% leased 1Q 2019 Office Leasing Activity • • Of the 203,965 square feet leased, leasing at our flex portfolio accounted for 53,037 square feet Completed 114,000 square feet of waterfront office leasing, including both an office lease and a grocery lease with Whole Foods Market Completed 28,000 square feet of class A suburban leasing, including a renewal and expansion with FINRA • Soho Lofts, Jersey City, NJ 1Q 2019 Development Activity •Commenced construction on 25 Christopher Columbus (The Charlotte), a 750-unit premier residential tower in downtown Jersey City •145 Front at City Square: Phase I: 90.7% leased, Phase II: 47.7% leased (combined Phase I & II 365 units 75.6% leased) 1Q 2019 Transaction Activity • • On January 16, 2019, the Company executed the disposition of Park Square, a 159-unit community in Rahway, NJ for $35M Throughout 1Q, the Company completed the disposition of six office buildings in suburban New Jersey for total gross valuation of $75M On January 31, 2019, the Company closed on the acquisition of Prudential’s 50% ownership interest in M2, a 311-unit community in Jersey City, at a gross asset valuation of $195M. The acquisition, funded by capital from Rockpoint Group and proceeds from the refinancing, follows the 3Q 2018 partnership acquisition of the adjacent Marbella property On February 6, 2019, the Company acquired 99 Wood Ave South, a 272,000 sf class A office building in Metropark for $62M, increasing CLI’s ownership of Class A assets in that submarket to 33% On March 29, 2019, the Company executed the second phase of its Flex Portfolio disposition, selling the Northern Westchester Portfolio for $488M Subsequent to quarter-end, the Company acquired Soho Lofts, a 377-unit community in Jersey City, for $264M. The acquisition, which was funded by 1031 proceeds, represents the Company’s continued strategy of concentrating investment in our core market: the NJ Waterfront • • • • 150 JFK Pkwy, Short Hills, NJ CLI Company Highlights 1Q 2019 5

$ in thousands, except per share amounts and ratios Key Financial Metrics Core FFO p er Dilute d Sha re (1) Ne t In co me pe r Dilu te d Sh a re Ma rke t Va l ue of Eq ui ty (2) - Co mmon Eq ui ty (I n cl u de s OP Uni ts ) - Pre fe rre d Equ i ty (Ro ckp oi n t) - OP Equ i ty (Pre fe rre d OPs ) - Boo k Va l ue of JV Mi n ori ty I n te re s t Tota l De b t, Ne t Tota l Ma rke t Ca pi ta l i za ti on Shares and Units: 0.40 2.66 $2,606,635 2,227,440 326,871 52,324 50,320 2,686,316 5,343,271 0.45 0.45 $2,300,227 1,969,768 278,135 52,324 42,150 2,792,651 5,135,027 0.43 (0.05) $2,445,549 2,137,674 255,551 52,324 43,243 2,807,718 5,296,510 0.45 (0.05) $2,322,868 2,039,203 231,341 52,324 20,959 2,646,436 4,990,263 0.50 0.45 $1,893,848 1,676,855 164,669 52,324 21,003 2,615,211 4,530,061 Common Sh a re s Ou ts ta n di n g Common Un i ts Ou ts ta n di n g Combi n e d Sh a re s and Un i ts We i ghte d Ave ra ge - Dilute d (2) Common Share Price ($’s): 90,325,783 10,009,355 100,335,138 100,953,698 90,320,306 10,229,349 100,549,656 100,844,973 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 At th e End of th e Pe ri o d Hi gh Du ri ng Pe ri o d Lo w Du ri ng Pe ri o d Di vi de nd s De cl a re d pe r Sha re Debt Ratios: $22.20 22.55 18.74 0.20 $19.59 22.26 19.02 0.20 $21.26 21.92 18.92 0.20 $20.28 20.86 16.23 0.20 $16.71 21.98 15.86 0.20 Ne t De bt to Ad ju s te d EBI TDA - Ne t De bt to Ad ju s te d EBI TDA - Le s s CI P De bt - Ne t De bt to Ad ju s te d EBI TDA - Office Porol i o - Ne t De bt to Ad ju s te d EBI TDA - Re s i d e n al Po ro l i o - Ne t De bt to Ad ju s te d EBI TDA - Re s i d e n al Po ro lio Le s s CI P De bt Inte re s t Co ve ra ge Ra ti o Fi xe d Ch a rge Co ve ra ge Ra ti o 9.5x 8.8x 7.3x 15.2x 12.9x 2.8x 2.1x 9.3x 8.7x 7.8x 13.7x 11.4x 3.1x 2.2x 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 Tota l De b t/To ta l Ma rke t Ca pi ta l i za ti on 50.9% 54.4% 53.0% 53.0% 57.7% Tota l De b t/To ta l Bo ok Ca p i ta l i za ti o n 50.3% 55.2% 55.6% 54.5% 54.3% Tota l De b t/To ta l Unde pre ci a te d As s e ts 43.3% 45.3% 45.8% 44.6% 44.5% Se cu re d De bt/Tota l Un de pre ci a te d As s e ts 24.6% 23.2% 22.3% 20.6% 20.1% Notes: See supporting “Key Metrics” notes on page 42. 1Q 2019CLI Company Highlights6 1Q 20194Q 20183Q 20182Q 20181Q 2018

$ in millions (except per share amounts) Net Asset Value (Unaudited) Net Value Range (3 ) Rentable SF/ High Low Apt Units Office Portfolio MSF Huds on Wa terfront (Jers ey City, Hoboken) Cla s s A Suburba n (Metropa rk, Short Hills ) Suburba n Subtotal (1 )(4 ) Non-Core (5 ) 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 Les s : Office Uns ecured Debt Les s : Office Preferred Equity/LP Interes ts 4.908 2.155 4.047 11.110 0.507 $1,773 572 650 $2,995 48 30 90 56 33 30 279 $3,561 (1,165) (53) $1,339 474 581 $2,394 48 30 90 56 33 30 279 $2,960 (1,165) (53) 11.617 Total Office NAV 11.617 $2,343 $1,742 Residential Portfolio Units 4,268 2,611 1,571 8,686 Opera ting Properties - Wholly-Owned/Cons olida ted Opera ting Properties - Uncons olida ted JVs (1 0 ) In-Cons truction Properties (1 1 ) La nd (9 ) Fee Income Bus ines s , Ta x Credit, & Exces s Ca s h Residential - Asset Value (1 3 ) Les s : Rockpoint Interes t Plus : Additiona l Res identia l Holdings $908 339 322 386 35 $1,990 (333) 124 $740 267 263 349 35 $1,654 (323) 112 17,136 750 Total Residential NAV 17,886 $1,781 $1,443 Total Mack-Cali NAV $4,124 $3,185 Approximate NAV / Share (100.9MM shares) (1 4 ) $40.85 $31.54 Notes: See footnotes and “Information About Net Asset Value (NAV)” on pages 9 and 10. CLI Company Highlights 1Q 2019 7 $3,616 $35.82 NAV Calculation (2 ) 1Q 2019 Cap Rate Annualized NOI (1 ) $74.2 4.2% 42.4 6.6% 54.5 8.9% $171.1 Stabilized NOI $94.1 4.8% 55.6 4.5% 46.6 5.2% Gross Asset Gross Per SF / Value Unit (1 0 ) (A) $1,780 $363 644 299 614 152 $3,038 $273 48 176 90 56 33 30 279 $3,749 $1,941 $455 1,245 477 891 567 471 54 35 $4,583 117 156 $4,700 Property Third Party Discounting Debt Interests (1 2 ) (B) (C) (D) ($250) $0 $0 (125) 0 0 0 0 0 ($375) $0 $0 0 0 0 (113) (33) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ($488) ($33) $0 ($1,082) ($45) ($5) (619) (318) (5) (424) (88) (79) 0 (103) 0 ($2,125) ($554) ($89) Net Asset Value (A-B-C-D) $1,530 519 614 $2,663 48 30 90 56 33 30 279 $3,229 (1,165) (53) $2,011 $809 303 300 368 35 $1,815 (327) 0 0 0 117 ($2,125) ($554) ($89) $1,605

Notes: Net Asset Value (Unaudited) 1) Reflects 1Q 2019 Annualized Cash NOI for office assets; projected 12-month NOI for stabilized residential assets and the projected stabilized NOI for residential assets in-construction and lease-up. See Information About Net Operating Income on page 45. 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 Subtotal 4.908 2.155 4.047 11.110 $74.21 42.37 54.53 $171.11 4.17% 6.58% 8.88% $38.82 37.98 28.32 $34.83 $46.62 40.70 30.88 $39.74 92.00% 92.50% 88.00% 6.00% 7.00% 8.00% 7.00% 8.00% 9.00% $1,780 644 614 $3,038 $363 299 152 $273 The year one cap rate, applied to the 1Q 2019 Annualized 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 45. 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 two office joint venture properties. Wegman’s $35 million asset value calculated using $1.56 million projected 2019 cash NOI capped at 4.5%. 24 Hour Fitness $21 million asset value calculated using $1.06 million projected 2019 cash NOI capped at 5%. See Information About Net Operating Income on page 45. 5) 6) 7) CLI Company Highlights 1Q 2019 9 Rentable Market Stabilized Area 1Q 2019 Year 1 Cap In-Place Rent Occupancy Stabilized Unlevered (MSF) Annualized 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 $46.6 million upon completion of the construction or lease-up activities, the Company deducts any estimated future costs totaling $565.9 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 45. The residential valuation analysis totals to a Roseland NAV of $1,814,000,000 and additional Mack-Cali residential holdings of $118,000,000 or an aggregate $1,932,000,000, with the company’s share of this NAV of $1,605,000,000 (“MCRC Share”). This latter amount represents the company's share of Roseland NAV, net of the $327,000,000 attributable to Rockpoint's noncontrolling interest. The decrease in the approximate NAV per share of $0.27 from December 31, 2018 to March 31, 2019 is due primarily to revaluing of the company’s interest in certain unconsolidated joint ventures and land parcels as well as significant transaction costs associated with the sale of the remaining Flex portfolio. 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. CLI Company Highlights 1Q 2019 10

Balance Sheet ASSETS Re ntal property $ in thousands (unaudited) La nd and lea s ehold interes ts Buildings and improvements Tena nt improvements Furniture, fixtures and equipment La nd and improvements held for development Development and cons truction in progres s $416,736 3,284,289 311,778 32,059 492,754 573,030 5,110,646 (1,055,562) Les s – accumula ted deprecia tion and a mortiza tion 4,055,084 38,556 Renta l property held for sale, net Net Investment in Rental Property Ca s h and 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 and other ass ets , net (1) Accounts receiva ble, net of allowa nce for doubtful a ccounts of $602 and $1,108 Total Assets LIABILITIES & EQ UITY 4,093,650 25,307 34,830 249,513 98,418 306,557 7,331 $4,815,606 Senior uns ecured notes , net Uns ecured revolving credit fa cility and term loa ns Mortga ges , loa ns pa ya ble and other obliga tions , net Note pa ya ble to affiliate Dividends and dis tributions pa ya ble Accounts pa ya ble, accrued expens es and other lia bilities Rents received in adva nce and security depos its Accrued interes t pa ya ble Total Liabilities Commitments and 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 $569,438 863,738 1,182,035 - 21,357 198,005 40,610 14,186 2,889,369 - 225,326 1,508,091 171,817 21,003 192,820 1,700,911 $4,815,606 Notes: See supporting “Balance Sheet” notes on page 42 for more information. 1Q 2019CLI Company Highlights11 1Q 2018 1Q 2019 Office/Corp. Roseland Elim./Other Total $242,225 2,199,606 295,010 5,289 182,950 56,074 $242,260 - 1,414,393 - 1,406 - 43,973 - 304,903 - 249,040 - 2,255,975 - (92,447) - 2,163,528 - - 2,163,528 - 3,961 - 8,421 - 202,096 - 2,724 - 57,146 (13,093) 2,512 - 2,440,388 (13,093) - - - - 1,141,741 - 13,093 (13,093) - - 78,348 - 6,526 - 2,764 - 1,242,472 (13,093) - - 326,871 - 822,222 - - - 48,823 - 48,823 - 871,045 - 2,440,388 (13,093) $484,485 3,613,999 296,416 49,262 487,853 305,114 2,981,154 (842,892) 5,237,129 (935,339) 2,138,262 33,239 4,301,790 33,239 2,171,501 4,335,029 8,100 12,140 10,865 89,122 550,571 4,690 12,061 20,561 212,961 91,846 594,624 7,202 $2,846,989 $5,274,284 $570,607 588,805 385,164 - 21,341 118,359 26,614 11,653 $570,607 588,805 1,526,905 - 21,341 196,707 33,140 14,417 $1,722,543 - 52,324 881,796 188,829 1,497 2,951,922 - 379,195 1,704,018 188,829 50,320 190,326 239,149 1,072,122 1,943,167 2,846,989 $5,274,284

Income Statement – Quarterly Comparison $ in thousands, except per share amounts (unaudited) REVENUES Revenue from lea s es : Ba s e rents Es ca la tions and recoveries from tena nts Rea l es ta te services Pa rking income Hotel income Other income Total revenues EXPENSES Rea l es ta te ta xes Utilities Opera ting s ervices Rea l es ta te service expens es Lea s ing pers onnel cos ts Genera l and adminis tra tive Deprecia tion and a mortiza tion La nd impa irments $112,497 8,373 3,927 5,534 - 2,605 $107,239 12,656 4,432 5,499 - 2,288 $103,584 10,301 4,074 5,757 - 2,873 $112,902 12,791 4,661 5,327 - 3,286 $132,936 $132,114 $126,589 $138,967 $12,548 9,005 26,962 4,223 - 12,828 46,324 24,566 $15,680 9,990 27,107 4,400 - 11,620 45,813 - $17,966 7,555 22,939 4,360 - 13,455 41,413 - $18,361 12,504 25,618 4,936 - 16,085 41,297 - Total expenses Operating Income OTHER (EXPENSE) INCOME $136,456 $114,610 $107,688 $118,801 ($3,520) $17,504 $18,901 $20,166 Interes t expens e Interes t and 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 gains (los s es ) and unrea lized los s es on dis pos ition Ga in on sale of la nd/other Ga in on sale 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 ava ila ble to common shareholders Diluted earnings per common share: Net income ava ila ble to common shareholders Ba s ic weighted avera ge shares outs ta nding Diluted weighted avera ge sha res outs ta nding ($23,586) 769 (960) - 49,342 30,939 - (461) ($21,094) 851 (687) 14,217 (9,102) - - - ($18,999) 641 (52) - 1,010 - - - ($20,075) 1,128 1,572 - 58,186 - - (10,289) 56,043 (15,815) (17,400) 30,522 52,523 $640 (4,953) (4,406) 1,689 $451 167 (3,785) 1,501 $95 142 (2,989) 50,688 $30 (4,883) (2,799) 43,804 (1,478) (1,251) 43,036 $0.45 ($0.05) ($0.05) $0.45 $0.45 90,488 100,845 ($0.05) 90,468 100,712 ($0.05) 90,330 100,598 $0.45 90,263 100,604 1Q 2019CLI Company Highlights12 4Q 2018 3Q 2018 2Q 2018 1Q 2018 1Q 2019 Office/ Corp. Roseland Total $85,290 8,972 112 2,256 - 1,260 $27,620 1,133 3,730 2,685 283 908 $36,359 $4,569 1,766 7,443 4,213 - 3,196 15,057 - $36,244 $115 (9,067) 151 (1,402) 13,790 13 - - - 3,485 3,600 1,248 - (4,212) 636 $112,910 10,105 3,842 4,941 283 2,168 $97,890 $134,249 $12,508 8,685 17,519 53 742 9,397 32,989 - $17,077 10,451 24,962 4,266 742 12,593 48,046 - $81,893 $118,137 $15,997 (15,707) 673 721 - 268,096 - 903 1,311 $16,112 ($24,774) 824 (681) 13,790 268,109 - 903 1,311 255,997 259,482 271,994 - (27,680) (455) 275,594 $1,248 (27,680) (4,667) 243,859 244,495 $2.67 $2.66 90,498 100,943

FFO, Core FFO & AFFO – Quarterly Comparison $ in thousands, except per share amounts and ratios (unaudited) Net income (loss) availa 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 and a mortiza tion on continuing opera tions (1 ) Ga in on cha nge of control of interes ts Ga in on sa le of inves tment in uncons olida ted joint venture Rea lized ga ins and unrea lized losses on dis pos ition of renta l property, net Funds from operations (2 ) Add/Deduct: (Ga in)/Los s from extinguis hment of debt, net Dea d dea l cos ts La nd impa irments Ga in on dis pos ition of developa ble la nd Severa nce/s epa ra tion cos ts on ma na gement res tructuring Ma na gement contra ct termina tion cos ts New pa yroll ta x cons ulting cos ts Core FFO Add (D e duct) Non-Ca s h Ite ms : $244,495 27,680 50,168 (13,790) (903) (268,109) $43,804 4,953 49,578 - - (49,342) ($1,478) (167) 49,433 (14,217) - 9,102 ($1,251) (142) 45,781 - - (1,010) $43,036 4,883 45,602 - - (58,186) $39,541 $48,993 $42,673 $43,378 $35,335 ($1,311) - - - 1,562 1,021 - $461 893 24,566 (30,939) 450 - 903 - - - - 640 - - - - - - 1,795 - - $10,289 - - - 5,052 - - $40,813 $45,327 $43,313 $45,173 $50,676 Stra ight-line rent adjus tments (3 ) Amortiza tion of ma rket lea s e inta ngibles , net (4 ) Amortiza tion of lea s e inducements Amortiza tion of stock compens a tion Non-rea l es ta te deprecia tion and amortiza tion Amortiza tion of debt dis count/(premium) and ma rk-to-ma rket, net Amortiza tion of deferred fina ncing cos ts Deduct: Non-incrementa l revenue genera ting ca pita l expenditures : Building improvements Tena nt improvements and lea s ing commis s ions (5 ) Tena nt improvements and lea s ing commissions on space va ca nt for more tha n one yea r Adjusted FFO (2 ) Core FFO (calculated above) Deduct: Equity in ea rnings (loss) of uncons olida ted joint ventures , net Equity in ea rnings sha re of deprecia tion and a mortiza tion Add-back: Interes t expens e Recurring JV dis tributions (6 ) Income (loss) in noncontrolling interes t in cons olida ted joint ventures Redeema ble noncontrolling interes t Income ta x expens e Adjusted EBITDA Net debt at period end (7 ) Net debt to Adjus ted EBITDA Diluted weighted avera ge sha res /units outs ta nding (8 ) Funds from opera tions per sha re-diluted Core Funds from Opera tions per s ha re/unit-diluted Dividends decla red per common s ha re ($2,855) (1,037) 304 2,010 539 (237) 1,189 ($4,204) (1,054) 166 2,064 557 (237) 1,486 ($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 (2,932) (7,931) (3,482) (2,639) (11,429) (8,433) (2,208) (4,467) (7,782) (723) (17,939) (6,851) (1,666) (4,468) (7,695) $26,381 $21,604 $29,773 $21,081 $36,296 $40,813 $45,327 $43,313 $45,173 $50,676 $681 (2,662) $960 (3,810) $687 (4,155) $52 (4,903) ($1,572) (4,815) 24,774 3,119 (1,248) 4,667 43 23,585 3,292 (640) 4,406 343 21,093 4,908 (451) 3,785 215 18,999 4,585 (95) 2,989 144 20,075 6,690 (30) 2,799 - $70,187 $73,463 $69,395 $66,944 $73,823 $2,653,693 9.5x 100,943 $0.39 $0.40 $0.20 $2,743,096 9.3x 100,845 $0.49 $0.45 $0.20 $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 100,604 $0.35 $0.50 $0.20 Notes: See footnotes and “Information About FFO, Core FFO, & AFFO” on page 15. 1Q 2019CLI Company Highlights13 1Q 2019 4Q 2018 3Q 2018 2Q 2018 1Q 2018

$ in thousands (unaudited) EBITDAre – Quarterly Net Income a va ila ble to common s ha reholders Comparison $244,495 $43,804 ($1,478) ($1,251) $43,036 Add: Noncontrolling interes t in opera ting pa rtners hip Noncontrolling interes t in cons olida ted joint ventures (a ) Redeema ble noncontrolling interes t Interes t expens e Income ta x expens e Deprecia tion a nd a mortiza tion De duct: 27,680 (1,248) 4,667 24,774 43 48,046 4,953 (640) 4,406 23,586 343 46,324 (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 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 Add: Compa ny's s ha re of property NOI's in uncons olida ted joint ventures (1 ) EBITDAre Add: Los s from extinguis hment of debt, net Severa nce/Sepa ra tion cos ts on ma na gement res tructuring Ma na gement contra ct termina tion cos ts Dea d dea l cos ts La nd impa irments Ga in on dis pos ition of developa ble la nd New pa yroll ta x cons ulting cos ts Adjusted EBITDAre (268,109) (903) (13,790) 681 (49,342) - - 960 9,102 - (14,217) 687 (1,010) - - 52 (58,186) - - (1,572) 7,385 9,028 8,802 10,193 11,059 $73,721 $83,422 $73,237 $71,292 $63,391 (1,311) 1,562 1,021 - - - - 461 450 - 893 24,566 (30,939) 903 - 640 - - - - - - 1,795 - - - - - 10,289 5,052 - - - - - $74,993 $79,756 $73,877 $73,087 $78,732 Noncontrolling interests in consolidated joint ventures (a): Ma rbella M2 a t Ma rbella Port Imperia l Ga ra ge South Port Imperia l Reta il South Res idence Inn Hotel Other cons olida ted joint ventures Net los s es in noncontrolling interes ts Add: Deprecia tion in noncontrolling interes t in cons olida ted JV's Funds from operations - noncontrolling interest in consolidated JV's Add: Interes t expens e in noncontrolling interes t in cons olida ted JV's Net operating income before debt service in consolidated JV's Notes: (1) See unconsolidated joint venture NOI details on page 20 for 1Q 2019. See Information About EBITDAre on page 15. (583) (496) (94) (7) (19) (49) (590) - (5) (4) - (41) (363) - (60) (5) - (23) - - (60) (12) - (23) - - (84) (11) - 65 ($1,248) ($640) ($451) ($95) ($30) 1,522 955 659 84 83 $274 $315 $208 ($11) $53 691 484 367 132 133 $965 $799 $575 $121 $186 CLI Company Highlights 1Q 2019 14 1Q 2019 4Q 2018 3Q 2018 2Q 2018 1Q 2018

FFO, Core FFO & AFFO (Notes) Notes (1)Includes the Company’s share from unconsolidated joint ventures, and adjustments for noncontrolling interest, of $2,661 and $4,815 for the three months ended March 31, 2019 and 2018, respectively. Excludes non-real estate-related depreciation and amortization of $539 and $511 for the three months ended March 31, 2019 and 2018, 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 $4,832 and $6,375 for the three months ended March 31, 2019 and 2018, respectively. Also includes the Company's share from unconsolidated joint ventures of ($229) and ($438) for the three months ended March 31, 2019 and 2018. (4)Includes the Company's share from unconsolidated joint ventures of $0 and $80 for the three months ended March 31, 2019 and 2018, 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 includes $2.6 million of the Company’s share of its first annual sale of an economic tax credit certificate associated with the Urby Harborside 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 and restricted cash, all at period end. (8)Calculated based on weighted average common shares outstanding, assuming redemption of Operating Partnership common units into common shares (10,164 and 10,242 shares for the three months ended March 31, 2019 and 2018, respectively). Information About FFO, Core FFO and AFFO Funds from operations (“FFO”) is defined as net income (loss) before noncontrolling interests of unitholders, computed in accordance with generally accepted accounting principles (“GAAP”), excluding gains or losses from depreciable rental property transactions (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. 1Q 2019CLI Company Highlights15

Same Store Performance Office Same St ore $ in thousands Tota l Property Revenues (GAAP) $80,226 $86,830 ($6,604) (7.6%) Rea l Es ta te Ta xes Utilities Opera ting Services Tota l Property Expens es $10,386 6,953 14,546 $31,885 $11,547 8,211 14,804 $34,562 ($1,161) (1,258) (258) ($2,677) (10.1%) (15.3%) (1 .7%) (7.7%) Same Store GAAP NOI (a) (1 ) $48,341 $52,268 ($3,927) (7.5%) Les s : stra ight-lining of rents adj. and FAS 141 $3,838 $5,234 ($1,396) (26.7%) Sa me Store Ca s h NOI (b) (1 ) $44,503 $47,034 ($2,531) (5.4%) Tota l Properties 43 43 - - Tota l Squa re Foota ge 10,830,735 10,830,735 - - % Lea s ed 81.8% 84.4% - (2.6%) Residential Same St ore (2) Tota l Property Revenues $32,202 $31,220 $982 3.1% Rea l Es ta te Ta xes Opera ting Expens es Tota l Property Expens es $4,007 8,063 12,070 $3,874 7,971 11,845 $133 92 224 3.4% 1.1% 1.9% Same Store GAAP NOI (a) $20,132 $19,375 $758 3.9% Tota l Units 5,673 5,673 - - % Lea s ed 96.0% 96.8% - (0.8%) 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. 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. (b) (1) (2) Harborside Plaza 1 is being removed from service in 2019. Values represent the Company’s pro rata ownership of operating portfolio. 1Q 2019CLI Company Highlights16 For the Three Months Ended 1Q 2019 1Q 2018 Change % Change For the Three Months Ended 1Q 2019 1Q 2018 Change % Change

Debt Summary & Maturity De bt Bre akdown Schedule $ in thousands Fixed Rate Debt Fixed Ra te Uns ecured Debt and Other Obligations (1) Fixed Ra te Secured Debt Subtotal: Fixed Rate Debt $1,160,000 1,359,798 $2,519,798 42.94% 50.34% 93.28% 3.73% 3.86% 3.80% 2.17 6.53 4.52 Variable Rate Debt Va ria ble Ra te Secured Debt Va ria ble Ra te Uns ecured Debt (2) Subtotal: Variable Rate Debt $176,548 5,000 $181,548 6.54% 0.19% 6.72% 5.83% 3.79% 5.77% 0.49 1.82 0.52 Totals/Weighted Average Adjus tment for Una mortized Debt Dis count Una mortized Deferred Fina ncing Cos ts Total Consolidated Debt, net Pa rtners ’ Sha re CLI Share of Total Consolidated Debt, net (a) $2,701,346 (2,671) (12,358) $2,686,317 (74,786) $2,611,531 100.00% 3.93% ( 3 ) 4.26 Unconsolidated Secured Debt CLI Sha re Pa rtners ’ Sha re Total Unconsolidated Secured Debt $356,555 $373,620 $730,175 48.83% 51.17% 100.00% 4.06% 4.06% 4.06% 7.15 7.15 7.15 Maturity Schedule Period 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 176,548 585,000 173,800 300,000 333,998 1,108,929 $2,678,275 - - - 49 2,903 3,227 3,284 3,412 7,230 $20,105 (2,671) 2,965 (12,358) $8,041 176,597 587,903 177,027 303,284 337,410 1,116,159 2,698,380 (2,671) 2,965 (12,358) $2,686,316 5.83% 3.38% 3.21% 4.60% 3.53% 3.98% 3.93% (1 ) (3 ) $2,678,275 3.93% Notes: (a) Minority interest share of consolidated debt is comprised of $33.7 million at Marbella, $30.1 million at M2, $9.8 million at Port Imperial South Garage, and $1.2 million at Port Imperial South Retail. See supporting “Debt Summary & Maturity Schedule” notes on page 42. 1Q 2019CLI Company Highlights17 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 cured Debt $ in thousands Lender 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 ecured Notes : (2 )(3 ) Wells Fa rgo CMBS Wells Fa rgo CMBS 3.20% 4.15% 250,000 124,500 374,500 (2,429) $372,071 250,000 124,500 374,500 (2,509) $371,991 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 ecured Te rm Loa ns : public debt public debt 4.61% 3.52% 300,000 275,000 575,000 (2,671) (1,722) $570,607 300,000 275,000 575,000 (2,838) (1,848) $570,314 04/18/22 05/15/23 01/07/20 (4 ) 01/25/20 (4 ) 01/25/21 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 cured Construction Loa ns 7 Lenders 13 Lenders 13 Lenders 3.28% 3.46% LIBOR +1.30% $260,000 325,000 5,000 (1,195) $588,805 $1,531,483 $350,000 325,000 117,000 (1,061) $790,939 $1,733,244 Ma rriott Hotels at Port Imperia l (F.K.A. Port Imperia l 4/5 Hotel) Signa ture Pla ce (F.K.A. 250 Johns on) 145 Front at City Squa re (F.K.A. Worces ter) Total Secured Construction Debt Se cured Perma nent Loa ns Fifth Third Ba nk & Sa nta nder M&T Ba nk Citizens Ba nk LIBOR+4.50% LIBOR+2.35% LIBOR+2.50% $76,665 42,000 57,883 $176,548 $73,350 41,769 56,892 $172,011 10/06/19 05/20/19 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 at Overlook Ridge Ports ide 5/6 Ma rbella M2 at Ma rbella Qua rry Pla ce at Tucka hoe (F.K.A 150 Ma in Street) RiverHous e 11 at Port Imperia l (F.K.A. Port Imperia l South 11) 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: Wells Fa rgo Ba nk N.A. 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. New York Life Ins ura nce Co. New York Life Ins ura nce Co. Na tixis Rea l Es ta te Ca pita l LLC Northwes tern Mutua l Life America n Genera l Life & A/G PC LIBOR+1.87% 3.15% 4.56% 3.57% 3.85% 3.74% 4.56% 4.17% 4.29% 4.48% 4.52% 4.85% - 167,966 3,984 58,998 100,000 135,750 97,000 131,000 117,000 41,000 100,000 32,600 985,298 (7,012) $978,286 $1,154,834 $2,686,317 $25,167 168,370 4,000 58,998 100,000 135,750 97,000 131,000 - 41,000 100,000 32,600 893,885 (6,489) $887,396 $1,059,407 $2,792,651 N/A 02/01/21 12/01/21 08/01/23 02/01/24 01/01/25 03/10/26 08/10/26 08/10/26 08/05/27 01/10/29 12/01/29 Notes: See supporting “Debt Profile” notes on page 42. 1Q 2019CLI Company Highlights18 Effective March 31, December 31, Date of Interest Rate (1)2019 2018 Maturity

Unconsolidated Joint Ventures $ in thousands Ope ra ting Prope rtie s Residential 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 Ha rbors ide Subtotal - Residential Office 12 Vreela nd Offices a t Crys ta l La ke Subtotal - Office 130 59 316 825 141 378 762 2,611 98.5% 100.0% 95.6% 94.9% 97.2% 96.8% 95.9% 96.0% 25.0% 50.0% 22.5% 25.0% 45.0% 50.0% 85.0% 47.5% 1,060 376 1,773 3,062 411 1,752 4,147 $12,581 41,867 13,145 82,000 161,994 29,678 98,101 192,000 $618,785 714 220 1,115 1,778 136 570 1,652 $6,185 265 188 399 766 185 876 3,525 $6,204 10,466 6,572 18,450 40,498 13,355 49,050 163,200 $301,591 113 110 251 445 61 285 1,404 $2,669 45 106 248 435 60 266 1,363 $2,522 139,750 106,345 246,095 100.0% 93.2% 97.1% 50.0% 31.3% 41.9% 345 345 $690 7,499 3,891 $11,390 291 299 $590 173 107 $280 3,749 1,215 $4,964 146 93 $239 129 93 $222 Retail/Hotel Riverwa lk Reta il Hya tt Regency Jers ey City Subtotal - Retail/Hotel 30,745 351 63.1% 75.2% 73.0% 20.0% 50.0% 44.7% 132 610 $742 - 100,000 $100,000 132 (307) ($175) 26 305 $331 - 50,000 $50,000 26 (154) ($128) 1 638 $639 Total Operating 47.0% $14,013 $730,175 $6,600 $6,815 $356,555 $2,780 $3,383 M2 Red Ba nk Corpora te Pla za Total Transaction Properties (2 ) Other Uncons olida ted JVs Total Unconsolidated JVs (3 ) Notes: 311 92,878 94.5% N/A 24.3% 50.0% $616 264 $880 N/A N/A N/A N/A 150 132 $282 N/A N/A N/A N/A $83 75 $158 $576 $15,469 - $576 $7,176 $288 $7,385 - $288 $3,068 ($39) $3,503 $730,175 $356,555 (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 $4,209,000 for 1Q 2019. See supporting “Unconsolidated Joint Ventures” notes on page 42 and Information About Net Operating Income (NOI) on page 45. CLI Company Highlights 1Q 2019 20 Leased CLI's Nominal 1Q 2019 Total GAAP NOI After CLI Share CLI Share CLI GAAP NOI After CLI 1Q Property Units/SF Occupancy Ownership (1 ) GAAP NOI (a) Debt Debt Service (b) of GAAP NOI (c) of Debt Debt Service (d) 2019 FFO

Transaction Office Portfolio Activity $ in thousands (incl. per unit values) except per SF 1Q 2019 Acquis itions 99 Wood Ave. South 1Q 2019 Acquisitions Is elin, NJ 02/06/19 1 1 271,988 271,988 83.8% 83.8% $61,500 $61,500 $226 $226 7.2% 1Q 2019 Dis pos itions 721 Route 202/206 2115 Linwood Ave. 201 Littleton Ave. 141 Wes t Front St. 320 & 321 Univers ity Ave. Northern Wes tches ter Portfolio 1Q 2019 Dispositions Bridgewa ter, NJ Fort Lee, NJ Morris Pla ins , NJ Red Ba nk, NJ Newa rk, NJ Va rious NY / CT 01/11/19 01/22/19 02/27/19 02/28/19 03/13/19 03/29/19 1 1 1 1 2 56 62 192,741 68,000 88,369 92,878 147,406 3,148,512 3,737,906 0.0% 86.1% 37.3% 63.7% 0.0% 91.1% 80.8% $6,000 16,088 5,250 22,000 26,015 487,500 $562,853 $31 237 59 237 176 155 $151 5.4% Residential Portfolio 1Q 2019 Acquis itions M2 a t Ma rbella (2 ) 1Q 2019 Acquisitions (3 ) Jers ey City, NJ 01/31/19 1 1 311 311 94.5% 94.5% $195,000 $195,000 $627 $627 4.6% 1Q 2019 Dis pos itions Pa rk Squa re 1Q 2019 Dispositions Ra hwa y, NJ 01/16/19 1 1 159 159 96.9% 96.9% $34,900 $34,900 $219 $219 5.0% Notes: (1) (2) Represents 100% of asset value. CLI purchased Prudential’s 50 percent membership interest and preferred capital account in M2 for approximately $77.5 million, of which approximately $43.3 million was funded by placing new permanent debt on the asset. CLI purchased the remaining 10 percent interest in the Marriott Hotels at Port Imperial for approximately $6.0 million on March 26, 2019. (3) See supporting “Transaction Activity” notes on page 42. CLI Company Highlights 1Q 2019 21 Number of Percenta ge Gross Asset Price Per Weighted Average Location Transaction Date Buildings Units / Keys Leased Value (1 ) Unit Cap Rate (2 ) Number of Transaction Price Per Weighted Average Location Transaction Date Buildings SF Occupancy % Value (1 ) SF Cap Rate (3 )

Property Listing 101 Huds on Ha rbors ide 1 (2 ) 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 1,487,222 231,856 977,225 566,215 4,908,379 972,196 194,066 1,276,957 231,856 522,406 436,535 3,634,016 78.0% 48.6% 85.9% 100.0% 53.5% 77.1% 74.0% $37.33 48.13 37.69 37.23 39.97 40.50 $38.82 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 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 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 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 154,417 236,674 248,480 156,495 168,144 102,018 180,000 147,475 148,291 150,557 147,241 151,383 145,983 154,395 181,592 215,265 6,216 149,600 98,500 122,594 120,360 194,518 350,000 317,040 4,047,238 149,745 142,136 179,717 141,913 168,144 89,477 180,000 119,821 125,560 122,938 82,036 142,588 103,289 134,026 181,592 155,566 6,216 140,509 43,310 119,622 120,360 43,821 350,000 317,040 3,359,426 97.0% 60.1% 72.3% 90.7% 100.0% 87.7% 100.0% 81.2% 84.7% 81.7% 55.7% 94.2% 70.8% 86.8% 100.0% 72.3% 100.0% 93.9% 44.0% 97.6% 100.0% 22.5% 100.0% 100.0% 83.0% $39.97 35.87 27.62 22.38 26.75 28.39 25.65 24.92 26.77 33.54 30.86 29.70 29.80 27.10 41.62 31.25 17.84 30.82 30.62 28.79 27.24 28.13 17.69 26.05 $28.32 1 Bridge Pla za 101 Wood Avenue S 99 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 Is elin, NJ Is elin, NJ Woodbridge, NJ Edis on, NJ Edis on, NJ Short Hills , NJ Short Hills , NJ Short Hills , NJ Short Hills , NJ 200,000 262,841 271,988 200,000 196,128 195,709 247,476 260,741 197,196 123,000 2,155,079 145,968 262,841 226,492 200,000 196,128 184,518 208,306 256,324 194,111 123,000 1,997,688 73.0% 100.0% 83.3% 100.0% 100.0% 94.3% 84.2% 98.3% 98.4% 100.0% 92.7% $30.02 33.08 36.22 33.44 35.46 34.89 36.59 53.34 40.96 42.63 $37.98 Total Core Office Portfolio (4 ) 11,110,696 8,991,130 80.9% $34.71 Notes: See supporting “Property Listing” notes on page 42. 1Q 2019CLI Office Portfolio24 Class A Suburban Avg. Base Rent Building Location Total SF Leased SF % Leased + Escalations (1 ) Suburban Avg. Base Rent Building Location Total SF Leased SF % Leased + Escalations (1 ) Waterfront Avg. Base Rent Building Location Total SF Leased SF % Leased + Escalations (1 )

2019 Expirations by Building Asking rents on vacant space are on average 2.5% higher than expiring rents Wa terfront Va ca ncies 1,274,363 26.0% Cla s s A Va ca ncies 157,391 7.3% Expiring SF by Quarter 2019 Wa terfront Cla s s A Suburba n Suburba n Total Core Portfolio 20,649 - 157,593 178,242 71,321 11,268 76,061 158,650 127,745 59,153 37,986 224,884 219,715 70,421 271,640 561,776 1Q 2019CLI Office Portfolio25 2Q 2019 3Q 2019 4Q 2019 Remaining Class A Suburban 2019 Expirations Current Building Location Total SF SF % Total In-Place Rent Asking Rent 1 Bridge Pla za Fort Lee, NJ 200,000 3,027 1.5% $29.94 101 Wood Avenue S Is elin, NJ 262,841 6,644 2.5% 33.67 99 Wood Avenue S Is elin, NJ 271,988 8,710 3.2% 31.74 581 Ma in Street Woodbridge, NJ 200,000 7,286 3.6% 25.86 333 Thorna ll Street Edis on, NJ 196,128 34,641 17.7% 35.50 343 Thorna ll Street Edis on, NJ 195,709 5,888 3.0% 30.08 150 JFK Pa rkwa y Short Hills , NJ 247,476 - 0.0% - 51 JFK Pa rkwa y Short Hills , NJ 260,741 1,591 0.6% 56.33 101 JFK Pa rkwa y Short Hills , NJ 197,196 2,634 1.3% 39.25 103 JFK Pa rkwa y Short Hills , NJ 123,000 - 0.0% - Total Class A Suburban 2,155,079 70,421 3.3% $33.79 $32.00 37.00 37.00 32.00 37.00 37.00 48.00 55.00 45.00 45.00 $40.70 Suburban 2019 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% - 7 Gira lda Fa rms Ma dis on, NJ 236,674 - 0.0% - 4 Ga teha ll Drive Pa rs ippa ny, NJ 248,480 25,823 10.4% 27.38 9 Ca mpus Drive Pa rs ippa ny, NJ 156,495 0 0.0% - 325 Columbia Turnpike Florha m Pa rk, NJ 168,144 5,405 3.2% 26.58 200 Schultz Drive Red Ba nk, NJ 102,018 1,898 1.9% 29.42 3600 Route 66 Neptune, NJ 180,000 - 0.0% - 4 Ca mpus Drive Pa rs ippa ny, NJ 147,475 0 0.0% - 6 Ca mpus Drive Pa rs ippa ny, NJ 148,291 28,986 19.5% 29.00 1 Sylva n Wa y Pa rs ippa ny, NJ 150,557 - 0.0% - 3 Sylva n Wa y Pa rs ippa ny, NJ 147,241 - 0.0% - 5 Sylva n Wa y Pa rs ippa ny, NJ 151,383 9,286 6.1% 28.59 7 Sylva n Wa y Pa rs ippa ny, NJ 145,983 - 0.0% - 7 Ca mpus Drive Pa rs ippa ny, NJ 154,395 62,814 40.7% 28.08 2 Hilton Court Pa rs ippa ny, NJ 181,592 - 0.0% - 8 Ca mpus Drive Pa rs ippa ny, NJ 215,265 13,589 6.3% 30.85 2 Dryden Wa y Pa rs ippa ny, NJ 6,216 - 0.0% - 100 Overlook Center Princeton, NJ 149,600 0 0.0% - 5 Va ughn Drive Princeton, NJ 98,500 3,025 3.1% 30.35 1 River Center 1 Red Ba nk, NJ 122,594 0 0.0% - 1 River Center 2 Red Ba nk, NJ 120,360 3,696 3.1% 28.15 1 River Center 3 & 4 Red Ba nk, NJ 194,518 0 0.0% - 23 Ma in Street Holmdel, NJ 350,000 - 0.0% - 5 Wood Hollow Roa d Pa rs ippa ny, NJ 317,040 117,118 36.9% 27.12 Total Suburban 4,047,238 271,640 6.7% $27.86 Suburba n Va ca ncies 687,812 17.0% Total Core Office Portfolio 11,110,696 561,776 5.1% $36.82 Tota l Core Office Va ca ncies 2,119,566 19.1% $37.00 37.00 30.00 27.50 30.00 30.00 27.50 27.50 27.50 33.00 33.00 33.00 33.00 27.50 32.00 33.00 16.50 32.00 30.00 30.00 30.00 30.00 18.50 28.00 $29.78 $37.74 Waterfront 2019 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 399,578 166,386 41.6% 50.53 Ha rbors ide 2 & 3 Jers ey City, NJ 1,487,222 45,256 3.0% 44.39 Ha rbors ide 4a Jers ey City, NJ 231,856 - 0.0% - Ha rbors ide 5 Jers ey City, NJ 977,225 8,073 0.8% 39.73 111 River Street Hoboken, NJ 566,215 - 0.0% - Total Waterfront 4,908,379 219,715 4.5% $48.87 $47.00 47.00 43.00 44.00 49.00 52.00 $46.62

Leasing Activity Percentage Le ased Summary Wa terfront Cla s s A Suburba n Suburba n Flex Subtotals (3 ) Non-Core TOTALS 72.9% 94.2% 82.5% 92.8% 83.1% 51.2% 81.5% 0.0% 10.5% (2.1%) (100.0%) -21.4% (28.5%) (21.7%) 1.2% (1.5%) 0.5% (92.8%) (2.1%) 17.5% (1.1%) 74.0% 92.7% 83.0% N/A 80.9% 68.7% 80.4% 3,464,257 1,991,854 3,205,763 - 169,759 5,834 153,663 - 1,274,363 157,391 687,812 - 8,661,874 324,539 8,986,413 329,256 23,389 352,645 2,119,566 158,817 2,278,383 Summary of Le asing Transaction Activity For the three months ended March 31, 2019 Wa terfront (2 ) Cla s s A Suburba n Suburba n Subtotals Non-Core TOTALS 3 3 8 14 - 14 114,249 28,278 55,943 198,470 - 198,470 114,249 - 5,591 119,840 - 119,840 - 28,278 50,352 78,630 - 78,630 38,083 9,426 6,993 14,176 - 14,176 14.2 7.7 3.9 10.4 - 10.4 $43.13 32.26 27.91 $37.29 - $37.29 $9.07 5.25 4.13 $7.13 - $7.13 Notes: (1) (2) (3) Inclusive of escalations. Waterfront transaction activity includes the Whole Foods Market grocery lease for 47,542 square feet. Percent Leased at 12/31/18 was 80.4% excluding Flex Parks. 1Q 2019CLI Office Portfolio26 Number of Total Sq. Ft. Sq. Ft. Renewed Average Weighted Avg. Wtd. Avg. Wtd. Avg. Costs Transactions Sq. Ft. New Leases and Other Retained Sq. Ft. Term (Yrs) Base Rent ($) (1 ) Sq. Ft. Per Year ($) Pct. Leased Impact of Impact of Pct. Leased Sq. Ft. Leased Sq. Ft. Leased Sq. Ft. 12/31/2018 Acquisition/Disposition Leasing Activity 3/31/2019 Commercial Service Unleased

Lease Expirations Year of Expiration/Market 2019 Wa terfront Cla s s A Suburba n Suburba n Subtotal Non-Core TOTAL – 2019 2020 Wa terfront Cla s s A Suburba n Suburba n Subtotal Non-Core TOTAL – 2020 2021 Wa terfront Cla s s A Suburba n Suburba n Subtotal Non-Core TOTAL – 2021 2022 Wa terfront Cla s s A Suburba n Suburba n Subtotal Non-Core TOTAL – 2022 2023 Wa terfront Cla s s A Suburba n Suburba n Subtotal Non-Core TOTAL – 2023 7 11 19 37 6 43 219,715 70,421 271,640 561,776 57,532 619,308 2.5 0.8 3.0 6.3 0.6 6.9 9,944,682 2,240,436 7,248,516 19,433,634 1,535,216 20,968,850 45.26 31.81 26.68 34.59 26.68 33.86 3.5 0.7 2.5 6.7 0.5 7.2 6 23 27 56 8 64 45,014 275,293 175,672 495,979 29,818 525,797 0.5 3.1 2.0 5.6 0.3 5.9 1,681,476 10,163,812 4,412,350 16,257,638 732,973 16,990,611 37.35 36.92 25.12 32.78 24.58 32.31 0.6 3.5 1.5 5.6 0.2 5.8 16 19 22 57 7 64 365,649 139,019 197,781 702,449 80,040 782,489 4.1 1.5 2.2 7.8 0.9 8.7 13,225,834 5,917,339 5,738,273 24,881,446 1,996,995 26,878,441 36.17 42.56 29.01 35.42 24.95 34.35 4.6 2.0 1.9 8.5 0.7 9.2 11 15 30 56 7 63 94,713 162,149 295,311 552,173 50,897 603,070 1.0 1.8 3.3 6.1 0.6 6.7 3,303,286 5,246,489 8,446,276 16,996,051 1,317,935 18,313,986 34.88 32.36 28.60 30.78 25.89 30.37 1.1 1.8 2.9 5.8 0.5 6.3 11 338,909 3.8 12,286,553 36.25 4.2 18 34 63 - 288,093 862,751 1,489,753 - 3.2 9.6 16.6 - 10,741,289 21,039,973 44,067,815 - 37.28 24.39 29.58 - 3.7 7.3 15.2 - 63 1,489,753 16.6 44,067,815 29.58 15.2 Notes: See supporting “Expirations” notes on page 43. 1Q 2019CLI Office Portfolio29 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 2024 Wa terfront Cla s s A Suburba n Suburba n Subtotal Non-Core TOTAL – 2024 2025 AND THEREA FTER 11 19 31 61 - 228,183 286,258 438,674 953,115 - 2.5 3.2 4.9 10.6 - 8,730,217 11,734,522 11,670,914 32,135,653 - 38.26 40.99 26.60 33.72 - 3.0 4.1 4.0 11.1 - 61 953,115 10.6 32,135,653 33.72 11.1 Wa terfront Cla s s A Suburba n Suburba n Subtotal Non-Core TOTAL – 2025 AND THEREAFTER 52 36 48 136 3 139 2,166,060 756,318 963,934 3,886,312 106,252 3,992,564 24.2 8.5 10.7 43.4 1.2 44.6 75,478,083 25,734,543 27,578,320 128,790,946 2,572,357 131,363,303 34.85 34.03 28.61 33.14 24.21 32.90 25.9 8.9 9.5 44.3 0.9 45.2 Expirations by Type Year of Expiration/Market TOTA LS BY TY PE Wa terfront Cla s s A Suburba n Suburba n Subtotal Non-Core Totals/Weighted Average 114 141 211 466 31 497 3,458,243 1,977,551 3,205,763 8,641,557 324,539 8,966,096 38.6 22.1 35.7 96.4 3.6 100.0 124,650,131 71,778,430 86,134,622 282,563,183 8,155,476 290,718,659 36.04 36.30 26.87 32.70 25.13 $32.42 42.9 24.7 29.6 97.2 2.8 100.0 Notes: See supporting “Expirations” notes on page 43. 1Q 2019CLI Office Portfolio30 Percentage of Total Average Annualized Base Net Rentable Area Leased Square Feet Annualized Base Rent Per Net Rentable Percentage of Annual Number of Subject to Expiring Represented by Rental Revenue Under Square Foot Represented Base Rent Under Leases Expiring (1 ) Leases (Sq. Ft.) (2 ) Expiring Leases (%) Expiring Leases ($) (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. The Company’s residential platform is a premier owner and developer of residential real estate on the New Jersey waterfront with direct access to Hudson Yards and Brookfield Place 1Q 2019 Residential NAV was approximately $1.93B, comprised of $327M of Rockpoint equity and $1.61B of MC equity ($15.90/MC share) In December 2018, the Residence Inn at Port Imperial, a 164-key limited service Marriott hotel in Weehawken, NJ, commenced operations. The hotel is the first phase of a 372-key, dual-flag development, with its sister property, the Marriott Envue (Autograph Collection Hotel), projected to open in 3Q 2019. Commenced construction on 25 Christopher Columbus (The Charlotte), a 750-unit premAierdreasimdenFtiarl etoiwnerdinlidcohwn!town Jersey City Lease-Up Communities 2018: achieved stabilization at RiverHouse 11 (295 units), Signature Place (197 units) Metropolitan Lofts (59 units) and Portside 5/6 at East Pier (296 units), as well as continued momentum at 145 Front Phase I & II (237 units & 128 units respectively) As of April 29, our lease-up portfolio—solely from 2018 deliveries of 1,212 units—was 94.0% leased As of March 31, 2019, the Rockpoint Group had fully funded its $300M capital commitment to Roseland Subsequent to quarter-end, the Company acquired Soho Lofts, a 377-unit community in Jersey City, for $264M. The acquisition, which was funded by 1031 proceeds, represents the Company’s continued strategy of concentrating investment in our core market: the NJ Waterfront On January 16, 2019, Company executed the disposition of Park Square, a 159-unit community in Rahway, NJ for $35M Pipeline of 9,890 units of strategically located land holdings includes 5,480 units along the NJ Waterfront—nearly all with zoning in place We forecast continued growth in residential NOI after debt service from completion of our 2,319 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 (projected) 9,204 9,890 - 9,581 9,890 4.1% 11,234 8,237 17.3% CLI Multifamily Portfolio 1Q 2019 32 1Q 2019YE 2019YE 2020

Operating & Lease-Up Communities $ in thousands, except per home 1Q 2019 Percentage Leased (Stabilized): 96.3% 1Q 2019 Avg. Revenue Per Home (Stabilized): $2,737 Notes: See Information About Net Operating Income on page 45. See supporting “Operating & Lease-Up Communities” notes on page 43. (1) M2 1Q 2019 NOI composed of $616 UJV NOI from January 1, 2019 to January 30, 2019 and $1,414 of consolidated NOI from January 31, 2019 to March 31, 2019. 1Q 2019CLI Multifamily Portfolio33 Rentable Avg.Year Operating Communities Location Ownership Apartments SF Size Complete Cons olida ted Alterra at Overlook Ridge Revere, MA 100.00% 722 663,139 918 2008 The Cha s e at Overlook Ridge Ma lden, MA 100.00% 664 598,161 901 2014 Riverwatch 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 at Ea s t Pier - 7 Ea s t Bos ton, MA 100.00% 175 156,091 892 2015 Qua rry Pla ce at Tucka hoe Ea s tches ter, NY 100.00% 108 105,509 977 2016 Ma rbella Jers ey City, NJ 74.27% 412 369,515 897 2003 M2 (1 ) Jers ey City, NJ 74.27% 311 273,132 878 2016 RiverHous e 11 Weeha wken, NJ 100.00% 295 250,591 849 2018 Ports ide at Ea s t Pier - 5/6 Ea s t Bos ton, MA 100.00% 296 235,078 794 2018 Signa ture Pla ce at Morris Pla ins Morris Pla ins , NJ 100.00% 197 203,716 1,034 2018 Consolidated 95.23% 3,903 3,478,526 891 Uncons olida ted Joint Ventures (2 ) RiverTra ce at Port Imperia l Wes t New York, NJ 22.50% 316 295,767 936 2014 RiverPa rk at Ha rris on Ha rris on, NJ 45.00% 141 125,498 890 2014 Urby Ha rbors ide 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 at 40 Pa rk (3 ) Morris town, NJ 25.00% 130 124,237 956 2010 Metropolita n Lofts Morris town, NJ 50.00% 59 54,683 927 2018 Joint Ventures 47.47% 2,611 2,103,795 806 Operating Highlights Average Average Percentage Percentage Revenue Revenue Leased Leased Per Home Per Home NOI* NOI* Debt 1Q 2019 4Q 2018 1Q 2019 4Q 2018 1Q 2019 4Q 2018 Balance 97.5% 95.6% $2,157 $2,042 $2,658 $2,563 $100,000 96.1% 97.1% 2,211 2,154 2,568 2,657 135,750 95.0% 96.0% 1,847 1,854 525 635 - 94.3% 93.9% 3,499 3,518 3,347 3,550 165,000 99.4% 97.2% 2,851 2,729 1,055 1,096 58,998 98.1% 95.4% 3,578 3,440 661 523 41,000 95.4% 94.2% 3,267 3,167 2,417 2,470 131,000 94.5% 94.2% 3,594 3,559 2,030 2,107 117,000 99.0% 97.6% 2,852 3,070 1,383 1,057 100,000 97.3% 91.6% 2,688 2,764 1,296 944 97,000 98.5% 94.9% 2,313 2,351 500 325 42,000 96.5% 95.3% $2,733 $2,706 $18,440 $17,927 $987,748 95.6% 95.3% $3,208 $3,154 $1,773 $1,744 $82,000 97.2% 95.7% 2,287 2,265 411 419 29,678 95.9% 98.2% 3,121 2,938 4,147 3,613 192,000 96.8% 92.3% 2,556 2,664 1,752 1,548 98,101 94.9% 96.7% 2,226 2,120 3,062 2,783 161,994 98.5% 97.7% 3,396 3,211 784 665 35,800 100.0% 96.6% 3,462 2,924 376 345 13,145 96.0% 96.3% $2,743 $2,643 $12,305 $11,117 $612,718 Total Residential - Stabilized 76.09% 6,514 5,582,321 857 96.3% 95.7% $2,737 $2,681 $30,745 $29,044 $1,600,466 Lease-up Communities Cons olida ted 145 Front at City Squa re - Pha s e I (4 ) Worces ter, MA 100.00% 237 192,995 814 2018 146 Front at City Squa re - Pha s e II Worces ter, MA 100.00% 128 112,661 880 2018 Consolidated 100.00% 365 305,656 837 90.7% 74.7% $1,883 $1,719 $181 $285 $57,883 47.7% 18.8% 75.6% 55.1% $1,883 $1,719 $181 $285 $57,883 Total Residential - Operating Communities (5 ) 77.36% 6,879 5,887,977 856 95.2% 93.5% $2,692 $2,630 $30,926 $29,329 $1,658,349

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. 33 Tota l Cons olida ted Res identia l - Lea s e-Up Communities - from p. 33 Tota l Cons olida ted Commercia l - (from ta ble a bove) $18,440 181 614 $15,031 1,554 1,009 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 $19,235 (384) $17,594 349 TOTAL NOI for RRT (see Information About Net Operating Income on p. 45)*: $18,851 $17,943 Notes: See Information About Net Operating Income on page 45. CLI Multifamily Portfolio 1Q 2019 34 1Q 2019 4Q 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 Uncons olida te d Joint Ve nture s Shops a t 40 Pa rk Morris town, NJ 25.00% 50,973 2010 Riverwa lk a t Port Imperia l Wes t New York, NJ 20.00% 30,745 2008 Subordinate Interests 23.12% 81,718 Operating Highlights Percentage Percentage Leased Leased NOI* NOI* Debt 1Q 2019 4Q 2018 1Q 2019 4Q 2018 Balance NA NA $290 $551 $32,600 88.2% 88.2% 108 132 3,984 NA NA 142 281 - 100.0% 100.0% 74 45 - 91.9% 91.9% $614 $1,009 $36,584 69.0% 69.0% $276 $215 $6,067 63.1% 58.0% 132 137 - 66.8% 64.9% $408 $352 $6,067 Total Commercial 77.58% 733,232 89.1% 88.9% $1,022 $1,361 $42,651

In-Construction Communities $ in thousands RRT’s share of projected stabilized NOI after debt service will approximate $37.3 million (approximates to FFO) Project Capitalization - Total Capital as of 1Q 2019 Development Schedule Third Party Capital Projected Projected Stabilized Stabilized Apartment Ownership Homes/Keys MCRC Capital Dev Costs (2 ) Debt Balance MCRC Capital Initial Project Debt (1 ) Community Location Costs Start Occupancy Stabilization NOI Yield Cons olida te d Ma rriott Hotels a t Port Imperia l (3 ) Building 9 a t Port Imperia l Cha s e III a t Overlook Ridge 233 Ca noe Brook - Apa rtments (4 ) 25 Chris topher Columbus (The Cha rlotte) (4 ) Consolidated Joint Ve nture s - - - - - Weeha wken, NJ Weeha wken, NJ Ma lden, MA Short Hills , NJ Jers ey City, NJ 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 372 313 326 198 750 1,959 $159,400 142,900 99,900 99,600 470,500 $972,300 $94,000 92,000 62,000 64,000 300,000 $612,000 $65,400 50,900 37,900 35,600 170,500 $360,300 $142,065 37,413 25,073 22,152 63,252 $289,955 $76,665 - - - - $65,400 37,413 25,073 22,152 63,252 $213,290 3Q 2015 3Q 2018 3Q 2018 4Q 2018 1Q 2019 4Q 2018 4Q 2020 3Q 2020 4Q 2020 1Q 2022 3Q 2020 4Q 2021 4Q 2021 3Q 2021 4Q 2023 14,038 9,028 6,043 5,910 28,098 $63,117 8.81% 6.32% 6.05% 5.93% 5.97% 6.57% $0 $76,665 PI North - Riverwa lk C Joint Ventures Wes t New York, NJ 40.00% 40.00% 360 360 191,500 $191,500 112,000 $112,000 34,800 $34,800 44,700 $44,700 77,187 $77,187 - 32,487 $32,487 4Q 2017 4Q 2020 1Q 2022 11,705 $11,705 6.11% 6.11% - (5 ) Total In-Construction Communities 90.69% 2,319 $1,163,800 $724,000 $395,100 $44,700 $367,142 $76,665 $245,777 $74,822 6.50% 2019 MCRC Rema ining Ca pita l 2020 MCRC Rema ining Ca pita l Therea fter MCRC Rema ining Ca pita l Total Remaining Capital $214,389 395,163 187,106 $796,658 $125,729 334,500 187,106 $647,335 $88,660 60,663 - $149,323 Notes: NOI amounts are projected only. See Information About Net Operating Income (NOI) on page 45. See supporting “In-Construction Communities” notes on page 43. CLI Multifamily Portfolio 1Q 2019 35

Future Start Communities As of March 31, 2019, the Company has a future development portfolio of 9,890 residential units All priority starts (1,653 units) are located on the New Jersey Waterfront Current 2019/2020 Priority Starts Location Weehawken, NJ Jersey City, NJ Jersey City, NJ Apartments 224 679 750 1,653 Ownership 100.00% 100.00% 85.00% 93.19% Target Start PI South - Park Parcel Plaza 8 Urby Harborside II 2018/2019 Total Priority Starts 2019 2020 2020 2019/2020 Possible Starts Portside 1-4 233 Canoe Brook Road - Hotel 2019/2020 Total Possible Starts East Boston, MA Short Hills, NJ 300 240 540 100.00% 100.00% 100.00% Future Developments Future Developments Location White Plains, NY Roseland, NJ Parsippany, NJ Roseland, NJ Apartment 300 299 345 140 1,084 215 299 514 252 300 552 Location Weehawken, NJ Weehawken, NJ Jersey City, NJ Jersey City, NJ Jersey City, NJ Jersey City, NJ Weehawken, NJ West New York, NJ West New York, NJ West New York, NJ Apartment 131 - 750 1,060 265 585 200 471 224 141 3,827 1 Water Street 6 Becker Farm 1633 Littleton (repurposing) 65 Livingston Subtotal - Northeast Corridor Overlook IIIA Overlook IV/V Subtotal - Boston Metro Crystal House - III Crystal House - Future Subtotal - Washington, DC PI South - Building 16 PI South - Office 1/3 (1) Urby Harborside III Plaza 9 Liberty Landing Phase I Liberty Landing - Future Phases PI South - Building 2 PI North - Riverbend 6 PI North - Building I PI North - Building J Subtotal - Hudson River Waterfront Malden, MA Malden, MA Arlington, VA Arlington, VA Acquisition Options (2) 51 Washington Street 150 Monument Road Subtotal - Philadelphia Conshohoken, PA Bala Cynwyd, PA 310 206 516 Freehold 107 Morgan Subtotal - Acquisition Options Freehold, NJ Jersey City, NJ 400 804 1,204 2019/2020 Priority Starts 2019/2020 Possible Starts Total Future Start Communities 1,653 540 9,890 Notes: See supporting “Future Start Communities” notes on page 43. 1Q 2019CLI Multifamily Portfolio36

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 2018 Deliveries 85.0% 100.0% 100.0% 90.2% 95.9% 96.1% 98.1% 96.2% 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 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 145 Front Street a t City Squa re - Pha s e II Ports ide 5/6 RiverHous e 11 a t Port Imperia l Total 2018 Deliveries 2019 Deliveries 100.0% 50.0% 100.0% 100.0% 100.0% 100.0% 97.6% 98.5% 100.0% 90.7% 47.7% 97.3% 99.0% 91.5% 1Q 2018 1Q 2018 1Q 2018 2Q 2018 2Q 2018 3Q 2018 197 59 237 128 296 295 1,212 6.68% 6.72% 6.21% 6.21% 6.40% 6.60% 6.45% $3.3 1.2 3.8 2.1 7.6 8.0 $26.0 $1.4 0.3 2.1 1.1 3.2 3.5 $11.6 Ma rriott Hotels a t Port Imperia l (1 ) Total 2019 Deliveries 2020 Deliveries 100.0% 100.0% 4Q 2018 372 372 8.81% 8.81% $14.0 $14.0 $8.9 $8.9 Cha s e III Port Imperia l - Building 9 PI North – Riverwa lk C 233 Ca noe Brook Roa d - Apa rtments Total 2020 Deliveries 100.0% 100.0% 40.0% 100.0% 82.0% 3Q 2020 4Q 2020 4Q 2020 4Q 2020 326 313 360 198 1,197 6.05% 6.11% 6.11% 5.93% 6.06% 6.0 $9.0 11.7 5.9 $32.6 3.3 $4.9 2.7 3.0 $13.9 2022 Deliveries 25 Chris topher Columbus (The Cha rlotte) Total 2022 Deliveries 100.0% 100.0% 1Q 2022 750 750 5.97% 5.97% $28.1 $28.1 $14.6 $14.6 (2 ) Total In-Construction 90.7% 2,319 6.47% $74.7 $37.4 Notes: (1) The Residence Inn (164 keys) opened in 4Q 2018. The Marriott Envue (208 keys) is projected to open in July 2019. (2) Projected stabilized yield on in-construction portfolio without the Marriott Hotels at Port Imperial is 6.07 percent. NOI amounts are projected only. See Information About Net Operating Income (NOI) on page 45. CLI Multifamily Portfolio 1Q 2019 37 Total 92.3% 4,693 6.51% $127 $62.7 ProjectedProjected RRT Nominal % Leased As of: Actual/Projected Projected Stabilized Share of Stabilized Ownership As of 3/31/19 Initial Leasing Units Yield NOI NOI After Debt Service

Roseland Balance Sheet $ in thousands (unaudited) ASSETS Re ntal Property La nd and lea s ehold interes ts Buildings and improvements Tena nt improvements Furniture, fixtures and equipment La nd and improvements held for development Development and cons truction in progres s Total Gross Rental Property Less: Accumula ted deprecia tion Net Investment in Rental Property Assets held for sale, net Total Property Investments Ca s h and 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 a s s ets Accounts receiva ble, net of a llowa nce Total Assets $242,260 1,414,393 1,406 43,973 304,903 249,040 $137,867 803,438 458 27,329 279,673 500,743 2,255,975 (92,447) 1,749,508 (61,386) 2,163,528 - 1,688,122 2,634 2,163,528 1,690,756 3,961 8,421 202,096 2,724 57,146 2,512 7,178 5,728 234,630 950 37,926 2,260 $2,440,388 $1,979,428 LIABILITIES & EQ UITY Mortga ges , loa ns pa ya ble & other obliga tions Note pa ya ble to a ffilia te Accounts pa y, a ccrued exp and other lia bilities Rents recv'd in adva nce & security depos its Accrued interes t pa ya ble Total Liabilities Redeema ble noncontrolling interes t - Rockpoint Group Noncontrolling interes ts in cons olida ted joint ventures Ma ck-Ca li ca pita l Total Liabilities & Equity $1,141,741 13,093 78,348 6,526 2,764 $810,281 17,300 78,076 4,089 2,064 1,242,472 911,810 326,871 48,823 822,222 173,002 18,951 875,665 $2,440,388 $1,979,428 1Q 2019CLI Multifamily Portfolio38 1Q 2019 1Q 2018

Roseland Income Statement $ in thousands (unaudited) REVENUES Ba s e rents Es ca la tion and recoveries from tena nts Rea l es ta te services Pa rking income Hotel income Other income $27,620 1,133 3,730 2,685 283 908 $25,772 1,068 3,720 2,734 - 930 $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 Total revenues $36,359 $34,224 $30,941 $24,780 $23,860 EXPENSES Rea l es ta te ta xes Utilities Opera ting services Rea l es ta te service expens es Genera l and a dminis tra tive Deprecia tion and a mortiza tion $4,569 1,766 7,443 4,213 3,196 15,057 $3,783 1,494 5,847 4,094 3,498 12,002 $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 Total expenses $36,244 $30,718 $29,642 $23,475 $22,853 Operating Income $115 $3,506 $1,299 $1,305 $1,007 OTHER (EXPENSE) INCOME Interes t expens e Interes t and other inves tment income (los s ) Equity in ea rnings (los s ) of uncons olida ted joint ventures La nd Impa irments Ga in on cha nge of control of interes ts Rea lized ga ins (los s es ) and unrea lized los s es on dis pos ition Ga in on sale 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) ($9,067) 151 (1,402) - 13,790 13 - - ($6,900) 2 (1,797) (24,566) - 100 - (461) ($4,489) 1 (1,401) - 14,217 (6,330) - - ($2,668) 3 (961) - - - - - ($1,895) 412 1,712 - - - - - $3,485 ($33,622) $1,998 ($3,626) $229 Net income (loss) $3,600 ($30,116) $3,297 ($2,321) $1,236 Noncontrolling interes t in cons olida ted joint ventures Redeema ble noncontrolling interes t Net income (loss) available to common shareholders $1,248 (4,212) $640 (3,951) $451 (3,330) $95 (2,534) $118 (2,344) $636 ($33,427) $418 ($4,760) ($990) 1Q 2019CLI Multifamily Portfolio39 1Q 2019 4Q 2018 3Q 2018 2Q 2018 1Q 2018

Jersey City Residential Calculator Jersey City is a compelling financial alternative to Manhattan, providing significant income advantages after taxes and rent. 1 Bedroom Household 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) ($55,233) 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) ($76,507) 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) ($99,228) 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% ($47,830) ($67,140) ($9,367) 12.2% ($87,825) 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% 2 Bedroom Household 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) ($55,233) 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) ($76,507) 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) ($99,228) 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% ($47,830) ($67,140) ($9,367) 12.2% ($87,825) Less: Rent Class A Apartment 2 Bedroom 1,050 SF Disposable Income $75 PSF (78,750) $45 PSF (47,250) ($31,500) 40.0% $75 PSF (78,750) $45 PSF (47,250) ($31,500) 40.0% $75 PSF (78,750) $45 PSF (47,250) ($31,500) 40.0% Notes: (1) Reflects 2018 tax rates for single filers. CLI Multifamily Portfolio 1Q 2019 40 $42,903 59.6% 46.0% $114,925 28.8% $72,022 $40,867 91.3% 42.8% $85,610 22.4% $44,743 $38,903 242.9% 36.6% $54,920 10.7% $16,017 $250,000 Household New York City Jersey City Delta $200,000 Household New York City Jersey City Resident Resident Delta $150,000 Household New York City Jersey City Resident Resident Delta $33,903 37.3% 49.9% $124,675 36.3% $90,772 $31,867 50.2% 47.7% $95,360 31.7% $63,493 $29,903 86.0% 43.1% $64,670 23.2% $34,767 $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

Residential Equity Requirements As summarized in the table below, Mack-Cali is planning on and expects to have excess capital source availability to achieve the following development objectives: $ in thousands Complete Roseland’s In Construction portfolio of 2,319 units/keys Complete Roseland’s funding requirement for 2019/2020 Priority Starts comprising 1,653 units i. ii. USE: In Construction Portfolio (remaining capital Comment Represents remaining requirements for the in construction portfolio as summarized on Page 35 Represents third party capital commitments (Riverwalk C) - Fully Funded In Construction Portfolio 2,319 $795,500 $647,300 $148,200 Less: Existing JV Partner Commitments Roseland Capital Requirement - Remaining 0 $148,200 USE: Priority Starts Priority Starts Represents three priority starts in our core geographies 1,653 $893,508 $580,780 $312,728 Less: Land Equity to Date Represents the Company's existing land equity in Priority Starts (100,355) Less: Existing JV Partner Commitments Roseland Capital Requirement - Priority Starts Represents third party capital commitments (Urby II) (27,709) $184,663 SOURCE: Capital Availability Comment Fully funded as of 3/31/2019 Represents excess refinancing proceeds upon takeout financing on the construction portfolio Represents select dispositions for redeployment of capital into Roseland's core geographies Represents 50/50 joint ventures on select Priority Starts Total Rockpoint Capital $0 Construction Refinancings 100,000 Dispositions 160,000 New Joint Ventures 125,000 Excess Capital Source Potential (1) Notes: (1) Represents capital sources prior to reinvestment of Roseland cash flow generation and reinvestment of 1031 proceeds. CLI Multifamily Portfolio 1Q 2019 41 $52,137 Total Roseland Capital Sources $385,000 Total Roseland Capital Uses 3,972 $332,863 Total Cost Construction Capital Units Remaining 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 p.15 “Information About FFO, Core FFO & AFFO”. (2)Includes any outstanding preferred units presented on a converted basis into common units, noncontrolling interests in consolidated joint ventures and redeemable noncontrolling interests. Balance Sheet - (Page 11) (1)Includes mark-to-market lease intangible net assets of $98,276 and mark-to-market lease intangible net liabilities of $42,506 as of 1Q 2019. Debt Summary & Maturity Schedule - (Page 17) (1)2016 term loan, maturing on January 7, 2019, has three year term with two 1-year extension options available. The Company executed its first extension option on January 7,2019. 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 2.50 percent as of March 31, 2019, plus the applicable spread. (3)Excludes amortized deferred financing costs primarily pertaining to the Company’s unsecured revolving credit facility which amounted to $857 thousand for the three months ended March 31, 2019. Debt Profile - (Page 18) (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-/Ba2/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)The Company has a 1-year extension option available. 2017 term loan, maturing on January 25, 2020, has three year term with two 1-year extension options available. 2019/2020 Debt Maturities - (Page 19) (1)Construction loan LTVs are calculated using the respective maximum loan balance. (2)In 1Q 2019, the Company executed the first of two 1-year extension options. Unconsolidated Joint Ventures - (Page 20) (1)Amounts represent the Company’s share based on ownership percentage. (2)On January 31, 2019, the Company acquired Prudential’s 50% ownership interest in M2, consolidating the asset on the Company’s balance sheet. Amounts represent joint venture activity prior to the Company’s consolidation. On February 28, 2019, the Company disposed of its 50% interest in Red Bank Corporate Plaza. (3)Unconsolidated Joint Venture reconciliation is as follows: 1Q 2019 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 21) $681 3,503 4,184 (1,522) $2,662 (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)Weighted average cap rate excludes Marriott Hotels at Port Imperial. Property Listing - (Page 24) (1)Includes annualized base rental revenue plus escalations for square footage leased to commercial and retail tenants only. Excludes leases for amenity, parking and month-to-month tenants. Annualized base rental revenue plus escalations is based on actual March 2019 billings times 12. For leases whose rent commences after April 1, 2019 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)Harborside Plaza 1 is being removed from service in 2019. (3)Average base rents + escalations reflect rental values on a triple net basis. (4)Excludes non-core holdings targeted for sale at 506,745 SF; excludes consolidated repositionings taken offline totaling 318,454 SF. Total consolidated office portfolio of 11,617,441 SF. 1Q 201942

Appendix - Continued Top 15 Tenants - (Page 28) (1)Annualized base rental revenue is based on actual March 2019 billings times 12. For leases whose rent commences after April 1, 2019, 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)9,356 square feet expire in 2019; 33,363 square feet expire in 2021; 388,207 square feet expire in 2027. (4)45,256 square feet expire in 2019 (subsequent to quarter-end, 20,649 square feet expired of the 45,256 square feet); 237,350 square feet expire in 2029. (5)66,606 square feet expire in 2024; 54,341 square feet expire in 2026. (6)5,256 square feet expire in 2022; 82,936 square feet expire in 2026; 56,360 square feet expire in 2030. (7)17,855 square feet expire in 2021; 38,930 square feet expire in 2023; 45,042 square feet expire in 2024; 20,395 square feet expire in 2026; 15,408 square feet expire in 2027. Expirations - (Pages 29-30) (1)Includes office, office/flex, industrial/warehouse & standalone retail property tenants only. Excludes leases for amenity, retail, parking & month-to-month tenants. Some tenants have multiple leases. (2)Reconciliation to Company’s total net rentable square footage is as follows: Square Feet Square footage leased to commercial tenants Square footage used for corporate offices, management offices, building use, retail tenants, food services, other ancillary service tenants and occupancy adjustments Square footage unleased Total net rentable square footage (excluding ground leases) 8,986,413 352,645 2,278,383 11,617,441 (3)Annualized base rental revenue is based on actual March 2019 billings times 12. For leases whose rent commences after April 1, 2019 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 March 31, 2019 aggregating 153,455 square feet and representing annualized base rent of $4,470,523 for which no new leases were signed. Operating & Lease-up Communities - (Page 33) (1)On January 31, 2019, the Company acquired Prudential’s 50% partnership interest in M2, increasing the Company’s legal ownership in the property from 24.265% to 74.265%. M2 1Q 2019 NOI composed of $616 UJV NOI from January 1, 2019 to January 30, 2019 and $1,414 of consolidated NOI from January 31, 2019 to March 31, 2019. (2)Unconsolidated joint venture income represented at 100% venture NOI. See Information on Net Operating Income (NOI) on page 46. (3)As of March 31, 2019 Priority Capital included Metropolitan at $20,914,422 (Prudential). (4)For 145 Front at City Square Phases I & II, average revenue per home calculations, NOI and debt balance shown as consolidated. (5)Excludes approximately 83,083 SF of ground floor retail. In-Construction Communities - (Page 35) (1)Represents maximum loan proceeds. (2)Represents development costs funded with debt or capital as of March 31, 2019. (3)In December 2018, commenced operations of the Residence Inn at Port Imperial, the 164-key limited service component of the Marriott Hotels at Port Imperial. Occupancy was approximately 91% in April 2019 with an average rate of approximately $177. The Company expects the Envue Hotel and related food & beverage options to commence in July 2019. (4)Sitework commenced 4Q 2018, though official commencement 1Q 2019. The maximum loan balance presented is the anticipated debt and as no formal agreement has been signed, which may be subject to change. (5)Projected stabilized yield without the Marriott Hotels at Port Imperial is 6.07 percent. Future Start Communities - (Page 36) (1)Currently approved for approximately 290,000 square feet of office space. (2)Freehold: Roseland has signed an acquisition agreement, subject to certain conditions. 107 Morgan: Mack-Cali has a note encumbering the property. 1Q 201943

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. Flex Parks: Primarily office/flex properties, including any office buildings located within issuance of a final or temporary certificate of occupancy. 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. Identified Repurposing Communities: Communities not currently owned by RRT, which Total Costs. See following page for “Projected Stabilized Residential NOI” definition. 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. Subordinated Joint Ventures:Joint Venture communities where the Company's In-Construction Communities: Communities that are under construction and have not yet 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. 1Q 201944

Information About Net Operating Income (NOI) $ in thousands (unaudited) Reconciliation of Net Income to Net Operating Income (NOI) Net Income $271,994 $3,600 $275,594 $82,639 ($30,116) $52,523 Deduct: Rea l es ta te services income Interes t and 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 and unrea lized los s es on dis pos ition Ga in on sa le of la nd/other (Ga in) on sale of inves tment in uncons olida ted joint ventures (Ga in) los s from ea rly extinguis hment of debt, net (112) (673) (721) - (268,096) - (903) (1,311) (3,730) (151) 1,402 (13,790) (13) - - - (3,842) (824) 681 (13,790) (268,109) - (903) (1,311) (207) (767) (837) - (49,342) (30,839) - - (3,720) (2) 1,797 - - (100) - 461 (3,927) (769) 960 - (49,342) (30,939) - 461 Add: Rea l es ta te services expens es Lea s ing pers onnel cos ts Genera l and adminis tra tive (1 ) Deprecia tion and a mortiza tion Interes t expens e La nd Impa irments Net Operating Income (NOI) 53 742 9,397 32,989 15,707 - 4,213 - 3,196 15,057 9,067 - 4,266 742 12,593 48,046 24,774 - 129 - 9,330 34,322 16,686 - 4,094 - 2,061 12,002 6,900 24,566 4,223 - 11,391 46,324 23,586 24,566 $59,066 $18,851 $77,917 $61,114 $17,943 $79,057 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. 1Q 201945 4Q 2018 Office/Corp Roseland Total 1Q 2019 Office/Corp Roseland Total

Company Company Information Information, Executive Officers & Analysts 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, Corpora te Communi ca ti ons and Inves tor Rel a ti ons Phone: (732) 590-1025 E-Ma il: 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 Gary Wagner General Counsel and Secretary Ricardo Cardoso EVP and Chief Investment Officer Nicholas Hilton Executive Vice President, Leasing Giovanni M. DeBari Chief Accounting Officer Equity Re search Coverage Bank of America Merrill Lynch Ja mes C. Feldma n Citigroup Micha el Bi l erma n Green Street Advisors Da nny Is ma i l SunTrust Robinson Humphrey, Inc. Mi chael R. Lewi s Barclays Capital Ros s L. Smotri ch Deutsche Bank North America Derek Johns ton JP Morgan Anthony Pa ol one BTIG, LLC Thoma s Ca therwood Evercore ISI Steve Sa kwa Stifel Nicolaus & Company, Inc. John Gui nee 1Q 201946

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 certain risks, trends 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, leasing activities, capitalization rates 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, 2018. We assume no obligation to update and supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise. This Supplemental Operating and Financial Data is not an offer to sell or solicitation to buy any securities of the Mack-Cali Reality Corporation (“MCRC”). Any offers to sell or solicitations of the MCRC shall be made by means of a prospectus. The information in this Supplemental Package must be read in conjunction with, and is modified in its entirety by, the Annual Report on Form 10-K (the “10-K”) filed by the MCRC for the same period with the Securities and Exchange Commission (the “SEC”) and all of the MCRC’s other public filings with the SEC (the “Public Filings”). In particular, the financial information contained herein is subject to and qualified by reference to the financial statements contained in the 10-K, the footnotes thereto and the limitations set forth therein. Investors may not rely on the Supplemental Package without reference to the 10-K and the Public Filings. Any investors’ receipt of, or access to, the information contained herein is subject to this qualification. 1Q 201947