Veris Residential : Corporate Presentation

Overview | Portfolio | ESG | Appendix

S E RV I N G P R O P E RT I E S, P E O P L E, A N D T H E P L A N E T.

Corporate Presentation

S E P T E M B E R 6, 2023

C O R P O R AT E P R E S E N TAT I O N, S E P T E M B E R 6, 2023

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O V E R V I E W

Overview | Portfolio | ESG | Appendix

F O R WA R D - LO O K I N G S TAT E M E N TS

This Operating and Financial Data should be read in connection with our Quarterly Report on Form 10-Q for the quarter ended June 30, 2023.

Statements made in this presentation may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such forward -looking statements are intended 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 we believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, we 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 and are advised to consider the factors listed above together with the additional factors under the heading "Disclosure Regarding Forward-Looking Statements" and "Risk Factors" in our annual reports on Form 10-K, as may be supplemented or amended by our quarterly reports on Form 10-Q, which are incorporated herein by reference. We assume no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.

C O R P O R AT E P R E S E N TAT I O N, S E P T E M B E R 6, 2023

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OV E RV I E W

Overview | Portfolio | ESG | Appendix

Overview

T H E Q UA RT E R I N R E V I E W

Haus25, Jersey City, NJ

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Overview | Portfolio | ESG | Appendix

Transformation Highlights

Simplification		Sector-Leading Operational		Cements Position as Pure-Play
& Refocus	+	Performance	=		Multifamily REIT

• Over $2 billion of non-strategic sales closed, including 25 office properties and two hotels since Q1 2021, simplifying and refocusing the business on multifamily
• Developed and stabilized four new multifamily properties adding 1,856 units since Q1 2021
• Recently signed binding agreements for four non-strategic land plots, Harborside 6 and 23 Main Street for $205 million
• Consummated early redemption of Rockpoint's interest in Veris Residential Trust for $520 million
• G & A reduced to lowest level in two decades in real terms

• Developed leading operational platform incorporating new personnel, processes and technology
• Eight (8) consecutive quarters of sector leading performance (supported by leading platform)
• Same store NOI growth of 22% compared to the same quarter last year
• Same Store blended rental growth rate of 12% during the second quarter
• 7,681-unitmultifamily portfolio and Same Store 6,691-unit multifamily portfolio were 95.6% and 95.7% occupied, respectively, as of June 30, 2023

• 99% of NOI from multifamily (vs 39% in Q1 2021)
• Youngest multifamily portfolio commanding highest rents and lowest capex per unit among peers
• Reinstated a quarterly dividend of $0.05 per common share effective for the third quarter of 2023

C O R P O R AT E P R E S E N TAT I O N, S E P T E M B E R 6, 2023

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O V E R V I E W

Overview | Portfolio | ESG | Appendix

Rapid Transformation to a Prime Multifamily REIT

INCREASING SH ARE OF NOI FROM MULTIFAMILY

		2021				2022		2023
									99%
							84%	86%
						75%
				64%	68%
		53%	56%
	45%
39%
Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2
Residential		Office

1. Pro forma closing of Harborside 1, 2 and 3 and stabilized NOI from Haus25 (post burn-off of concessions). Refer to the appendix to this presentation for NOI reconciliation.

32% Growth

in Our Multifamily Portfolio

• Four (4) developments completed & stabilized ahead of budget
• 1,856 units added
• Haus25 (750 units) stabilized within 10 months

C O R P O R AT E P R E S E N TAT I O N, S E P T E M B E R 6, 2023

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