V E R I S    R E S I D  E  N  T  I  A  L,    I N C.  

NEWS RELEASE

For Immediate Release

Veris Residential, Inc. Reports Third Quarter 2024 Results

Raises Full-Year 2024 Guidance

JERSEY CITY, N.J., October 30, 2024 –– Veris Residential, Inc. (NYSE: VRE) (the “Company”), a forward-thinking, environmentally and socially conscious multifamily REIT, today reported results for the third quarter 2024.

YEAR-TO-DATE HIGHLIGHTS

–Same Store multifamily Blended Net Rental growth rate of 4.6% for the quarter and 4.8% year to date.

–Year-over-year Normalized Same Store NOI growth of 8.4% for the third quarter and 8.0% year to date.

–Year-to-date Normalized Same Store NOI margin of 66.8%, a 130 basis point improvement from the same period last year.

–Reduced net debt by approximately $227 million since September 30, 2023, and refinanced $531 million of mortgage debt, leaving no remaining consolidated debt maturities until 2026.

–Raised guidance as a result of the favorable resolutions of certain non-controllable expenses and better-than-expected revenue growth.

–Core FFO guidance raised by over 13% at the low end and 7% at the high end, resulting in a revised range of $0.59 - $0.60.

–Same Store NOI guidance raised by 240 basis points at the low end and 120 basis points at the high end, resulting in a revised range of 5.4% - 6.2%.

–Named 2024 Regional Listed Sector Leader by GRESB for distinguished ESG leadership and performance, with the highest listed residential score in the U.S. and the third-best listed residential score worldwide.

Mahbod Nia, Chief Executive Officer, commented, "Our portfolio continues to exhibit strong revenue growth, underpinned by robust demand for our premium properties and limited new supply in our key markets. I am extremely proud of the work our teams have done to mitigate controllable expense growth during a period of elevated inflation. These efforts, combined with a better than expected resolution of our non-controllable expenses last quarter, drove a substantial 17% year-over-year increase in Core FFO per share during the first nine months of the year, further improving our operating margin to 66.8% and allowing us to once again raise guidance."

SAME STORE PORTFOLIO PERFORMANCE

The following table shows Same Store performance:

In the third quarter, the Company renewed its property insurance program and finalized property taxes for its Jersey City assets, reducing Same Store non-controllable expenses by 8.8% for the quarter.

FINANCE AND LIQUIDITY

Approximately all of the Company's debt is hedged or fixed. The Company's total debt portfolio has a weighted average effective interest rate of 4.96% and weighted average maturity of 3.3 years.

During the third quarter, the Company repaid the $43 million mortgage on Signature Place and the $265 million mortgage on Liberty Towers using a combination of cash on hand, $145 million of additional draws on the Term Loan and a $157 million draw on the Secured Revolving Credit Facility. At quarter end, the Company had liquidity of approximately $170 million.

The $200 million Term Loan balance and $150 million of the Revolver were hedged with interest rate caps at a strike rate of 3.5%. The nine-month interest rate cap on the Revolver has not been designated as an effective accounting hedge to allow for flexibility should the Company repay a portion of the Revolver balance before the interest rate cap expires.

ESG,

The Company has again been recognized by global and national real estate organizations for its accomplishments in ESG and DEI. Most significantly, GRESB designated the Company as a Regional Listed Sector Leader in the Residential category, a recognition highlighting the top GRESB assessment performers in the Americas. The Company achieved the highest listed residential score in the U.S. and third-best listed residential score worldwide, earning its third-consecutive 5 Star rating.

The Company was also recognized by Nareit with the Mid Cap Diversity Impact Award for its social responsibility policies.

DIVIDEND

The Company paid a dividend of $0.07 per share on October 16, 2024, for shareholders of record as of September 30, 2024.

GUIDANCE

The Company has raised its 2024 guidance ranges to reflect the favorable outcome of certain non-controllable expenses that were finalized in the third quarter and continued multifamily outperformance.

CONFERENCE CALL/SUPPLEMENTAL INFORMATION

An earnings conference call with management is scheduled for Thursday, October 31, 2024, at 8:30 a.m. Eastern Time and will be broadcast live via the Internet at: http://investors.verisresidential.com.

The live conference call is also accessible by dialing (877) 451-6152 (domestic) or (201) 389-0879 (international) and requesting the Veris Residential third quarter 2024 earnings conference call.

The conference call will be rebroadcast on Veris Residential, Inc.'s website at:

http://investors.verisresidential.com beginning at 8:30 a.m. Eastern Time on Thursday, October 31, 2024.

A replay of the call will also be accessible Thursday, October 31, 2024, through Sunday, December 1, 2024, by calling (844) 512-2921 (domestic) or +1(412) 317-6671 (international) and using the passcode, 13747452.

Copies of Veris Residential, Inc.’s third quarter 2024 Form 10-Q and third quarter 2024 Supplemental Operating and Financial Data are available on Veris Residential, Inc.’s website under Financial Results.

In addition, once filed, these items will be available upon request from:

Veris Residential, Inc. Investor Relations Department

Harborside 3, 210 Hudson St., Ste. 400, Jersey City, New Jersey 07311

ABOUT THE COMPANY

Veris Residential, Inc. is a forward-thinking, environmentally and socially conscious real estate investment trust (REIT) that primarily owns, operates, acquires and develops holistically inspired, Class A multifamily properties that meet the sustainability-conscious lifestyle needs of today's residents while seeking to positively impact the communities it serves and the planet at large. The Company is guided by an experienced management team and Board of Directors, underpinned by leading corporate governance principles; a best-in-class, sustainable approach to operations; and an inclusive culture based on equality and meritocratic empowerment.

For additional information on Veris Residential, Inc. and our properties available for lease, please visit http:// www.verisresidential.com/.

The information in this press release must be read in conjunction with, and is modified in its entirety by, the Quarterly Report on Form 10-Q (the “10-Q”) filed by the Company for the same period with the Securities and Exchange Commission (the “SEC”) and all of the Company’s other public filings with the SEC (the “Public Filings”). In particular, the financial information contained herein is subject to and qualified by reference to the financial statements contained in the 10-Q, the footnotes thereto and the limitations set forth therein. Investors may not rely on the press release without reference to the 10-Q and the Public Filings, available at https://investors.verisresidential.com/financial-information.

We consider 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. We intend 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 may not 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 the Company's Annual Report on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q, which are incorporated herein by reference. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise, except as required under applicable law.

(in thousands) (unaudited)

Consolidated Statement of Operations

(In thousands, except per share amounts) (unaudited) 1

(in thousands, except per share/unit amounts)

See Non-GAAP Financial Definitions.

($ in thousands) (unaudited)

See Non-GAAP Financial Definitions

($ in thousands)

See Non-GAAP Financial Definitions.

(in thousands, except Revenue per home)     

									Operating Highlights
									Percentage Occupied						Average Revenue per Home						NOI						Debt Balance
			Ownership			Apartments			3Q 2024			2Q 2024			3Q 2024			2Q 2024			3Q 2024			2Q 2024
NJ Waterfront
Haus25			100.0%			750			95.8%			95.3%			$4,950			$4,842			$7,931			$7,337			$343,061
Liberty Towers*			100.0%			648			91.7%			94.9%			4,237			4,206			5,506			4,833			—
BLVD 401			74.3%			311			94.7%			95.4%			4,304			4,186			2,592			2,236			116,016
BLVD 425			74.3%			412			95.2%			94.6%			4,147			4,052			3,413			3,161			131,000
BLVD 475			100.0%			523			96.8%			95.5%			4,241			4,122			4,319			4,474			165,000
Soho Lofts*			100.0%			377			95.6%			96.6%			4,832			4,731			3,375			3,067			—
Urby Harborside			85.0%			762			96.5%			96.7%			4,094			4,051			5,866			5,291			183,362
RiverHouse 9			100.0%			313			96.2%			96.6%			4,392			4,275			2,661			2,565			110,000
RiverHouse 11			100.0%			295			96.3%			96.7%			4,363			4,319			2,500			2,328			100,000
RiverTrace			22.5%			316			95.3%			94.7%			3,829			3,764			2,113			2,176			82,000
Capstone			40.0%			360			94.4%			95.9%			4,471			4,405			3,154			3,137			135,000
NJ Waterfront Subtotal			85.0%			5,067			95.3%			95.7%			$4,371			$4,291			$43,430			$40,605			$1,365,439
Massachusetts
Portside at East Pier			100.0%			180			95.9%			95.5%			$3,269			$3,208			$1,245			$1,198			$56,500
Portside 2 at East Pier			100.0%			296			94.8%			96.7%			3,446			3,395			2,108			2,117			95,827
145 Front at City Square*			100.0%			365			95.1%			93.0%			2,475			2,535			1,467			1,540			—
The Emery			100.0%			326			94.0%			94.2%			2,840			2,801			1,688			1,530			71,024
Massachusetts Subtotal			100.0%			1,167			94.8%			94.7%			$2,946			$2,931			$6,508			$6,385			$223,351
Other
The Upton			100.0%			193			88.8%			87.7%			$4,525			$4,637			$1,392			$1,320			$75,000
The James*			100.0%			240			93.8%			94.5%			3,148			3,113			1,535			1,365			—
Signature Place*			100.0%			197			96.1%			93.7%			3,201			3,210			1,022			978			—
Quarry Place at Tuckahoe			100.0%			108			98.1%			97.1%			4,293			4,436			723			815			41,000
Riverpark at Harrison			45.0%			141			97.2%			93.6%			2,823			2,923			570			526			30,192
Metropolitan at 40 Park1			25.0%			130			95.6%			92.8%			3,722			3,750			731			735			34,100
Station House			50.0%			378			94.7%			93.4%			3,017			2,851			1,705			1,627			87,883
Other Subtotal			73.8%			1,387			94.5%			93.1%			$3,421			$3,411			$7,678			$7,366			$268,175
Operating Portfolio2,3			85.2%			7,621			95.1%			95.1%			$3,980			$3,923			$57,616			$54,356			$1,856,965

*Properties that are currently in the collateral pool for the Term Loan and Revolving Credit Facility.

See Non-GAAP Financial Definitions.

($ in thousands)

See Non-GAAP Financial Definitions.

Same Store Market Information1

Sequential Quarter Comparison

(NOI in thousands)                     

						NOI at Share									Occupancy									Blended Lease Rate2
			Apartments			3Q 2024			2Q 2024			Change			3Q 2024			2Q 2024			Change			3Q 2024			2Q 2024			Change
New Jersey Waterfront			5,067			$38,836			$36,180			7.3%			95.3%			95.7%			(0.4)%			6.6%			6.0%			0.6%
Massachusetts			1,167			6,765			6,636			1.9%			94.8%			94.7%			0.1%			0.7%			5.0%			(4.3)%
Other3			1,387			6,218			6,135			1.4%			94.5%			93.1%			1.4%			0.5%			3.0%			(2.5)%
Total			7,621			$51,819			$48,951			5.9%			95.1%			95.1%			—%			4.6%			5.4%			(0.8)%

Year-over-Year Third Quarter Comparison

(NOI in thousands)

Average Revenue per Home (based on 7,621 units)

See Non-GAAP Financial Definitions.

($ in thousands)

($ in thousands)

As of September 30, 99.6% of the Company's total pro forma debt portfolio (consolidated and unconsolidated) is hedged or fixed. The Company's total debt portfolio has a weighted average interest rate of 4.96% and a weighted average maturity of 3.3 years.

($ in thousands)     

			Balance			% of Total			Weighted Average Interest Rate			Weighted Average Maturity in Years
Fixed Rate & Hedged Debt
Fixed Rate & Hedged Secured Debt			$1,685,665			99.6%			4.93%			3.0
Variable Rate Debt
Variable Rate Debt1			7,000			0.4%			7.65%			2.6
Totals / Weighted Average			$1,692,665			100.0%			4.94%			3.0
Unamortized Deferred Financing Costs			(14,749)
Total Consolidated Debt, net			$1,677,916
Partners’ Share			(72,941)
VRE Share of Total Consolidated Debt, net2			$1,604,975
Unconsolidated Secured Debt
VRE Share			$295,863			53.0%			4.88%			4.5
Partners’ Share			262,684			47.0%			4.88%			4.5
Total Unconsolidated Secured Debt			$558,547			100.0%			4.88%			4.5
Pro Rata Debt Portfolio
Fixed Rate & Hedged Secured Debt			$1,907,280			99.6%			4.95%			3.3
Variable Rate Secured Debt			8,503			0.4%			7.59%			2.2
Total Pro Rata Debt Portfolio			$1,915,783			100.0%			4.96%			3.3

Debt Maturity Schedule as of September 303,4

See Non-GAAP Financial Definitions.

FFO, Core FFO, AFFO, NOI, & Adjusted EBITDA

($ in thousands)

Property			Units			Physical Occupancy			VRE's Nominal Ownership1			3Q 2024 NOI2			Total Debt			VRE Share of 3Q NOI			VRE Share of Debt
Multifamily
Urby Harborside			762			96.5%			85.0%			$5,866			$183,362			$4,986			$155,858
RiverTrace at Port Imperial			316			95.3%			22.5%			2,113			82,000			475			18,450
Capstone at Port Imperial			360			94.4%			40.0%			3,154			135,000			1,262			54,000
Riverpark at Harrison			141			97.2%			45.0%			570			30,192			257			13,586
Metropolitan at 40 Park			130			95.6%			25.0%			731			34,100			183			8,525
Station House			378			94.7%			50.0%			1,705			87,883			853			43,942
Total Multifamily			2,087			95.6%			55.0%			$14,139			$552,537			$8,015			$294,361
Retail
Shops at 40 Park3			N/A			69.0%			25.0%			(46)			6,010			(12)			1,503
Total Retail			N/A			69.0%			25.0%			$(46)			$6,010			$(12)			$1,503
Total UJV			2,087						55.0%			$14,093			$558,547			$8,003			$295,863

NON-GAAP FINANCIAL MEASURES

Included in this financial package are Funds from Operations, or FFO, Core Funds from Operations, or Core FFO, net operating income, or NOI and Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization, or Adjusted EBITDA, each a “non-GAAP financial measure,” measuring Veris Residential, Inc.’s historical or future financial performance that is different from measures calculated and presented in accordance with generally accepted accounting principles (“U.S. GAAP”), within the meaning of the applicable Securities and Exchange Commission rules. Veris Residential, Inc. believes these metrics can be a useful measure of its performance which is further defined.

Adjusted Earnings Before Interest, Tax, Depreciation and Amortization (Adjusted "EBITDA")

The Company defines Adjusted EBITDA as Core FFO, plus interest expense, plus income tax expense, plus income (loss) in noncontrolling interest in consolidated joint ventures, and plus adjustments to reflect the entity's share of Adjusted EBITDA of unconsolidated joint ventures. The Company presents Adjusted EBITDA because the Company believes that Adjusted EBITDA, 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. Adjusted EBITDA 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.

Blended Net Rental Growth Rate or Blended Lease Rate

Weighted average of the net effective change in rent (inclusive of concessions) for a lease with a new resident or for a renewed lease compared to the rent for the prior lease of the identical apartment unit.

Core FFO and Adjusted FFO ("AFFO")

Core FFO is defined as FFO, as adjusted for certain items to facilitate 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 above/below market leases, net, and (iii) other non-cash income, plus (iv) other non-cash charges. Core FFO and Adjusted AFFO are presented solely as supplemental disclosure that the Company's management believes provides useful information to investors and analysts of its results, after adjusting for certain items to facilitate comparability of its performance from period to period. Core FFO and Adjusted FFO are 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. As there is not a generally accepted definition established for Core FFO and Adjusted FFO, the Company's measures of Core FFO may not be comparable to the Core FFO and Adjusted FFO reported by other REITs. A reconciliation of net income per share to Core FFO and Adjusted FFO in dollars and per share are included in the financial tables accompanying this press release.

Funds From Operations ("FFO")

FFO is defined as net income (loss) before noncontrolling interests in Operating Partnership, computed in accordance with U.S. 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 accompanying this press release.

NOI and Same Store 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 affect the overall performance of the individual assets being measured and assessed.

Same Store NOI is presented for the same store portfolio, which comprises all properties that were owned by the Company throughout both of the reporting periods.

V E R I S    R E S I D  E  N  T  I  A  L,    I N C.  

NEWS RELEASE

For Immediate Release

Veris Residential, Inc. Reports Third Quarter 2024 Results

Raises Full-Year 2024 Guidance

JERSEY CITY, N.J., October 30, 2024 –– Veris Residential, Inc. (NYSE: VRE) (the “Company”), a forward-thinking, environmentally and socially conscious multifamily REIT, today reported results for the third quarter 2024.

YEAR-TO-DATE HIGHLIGHTS

–Same Store multifamily Blended Net Rental growth rate of 4.6% for the quarter and 4.8% year to date.

–Year-over-year Normalized Same Store NOI growth of 8.4% for the third quarter and 8.0% year to date.

–Year-to-date Normalized Same Store NOI margin of 66.8%, a 130 basis point improvement from the same period last year.

–Reduced net debt by approximately $227 million since September 30, 2023, and refinanced $531 million of mortgage debt, leaving no remaining consolidated debt maturities until 2026.

–Raised guidance as a result of the favorable resolutions of certain non-controllable expenses and better-than-expected revenue growth.

–Core FFO guidance raised by over 13% at the low end and 7% at the high end, resulting in a revised range of $0.59 - $0.60.

–Same Store NOI guidance raised by 240 basis points at the low end and 120 basis points at the high end, resulting in a revised range of 5.4% - 6.2%.

–Named 2024 Regional Listed Sector Leader by GRESB for distinguished ESG leadership and performance, with the highest listed residential score in the U.S. and the third-best listed residential score worldwide.

Mahbod Nia, Chief Executive Officer, commented, "Our portfolio continues to exhibit strong revenue growth, underpinned by robust demand for our premium properties and limited new supply in our key markets. I am extremely proud of the work our teams have done to mitigate controllable expense growth during a period of elevated inflation. These efforts, combined with a better than expected resolution of our non-controllable expenses last quarter, drove a substantial 17% year-over-year increase in Core FFO per share during the first nine months of the year, further improving our operating margin to 66.8% and allowing us to once again raise guidance."

SAME STORE PORTFOLIO PERFORMANCE

The following table shows Same Store performance:

In the third quarter, the Company renewed its property insurance program and finalized property taxes for its Jersey City assets, reducing Same Store non-controllable expenses by 8.8% for the quarter.

FINANCE AND LIQUIDITY

Approximately all of the Company's debt is hedged or fixed. The Company's total debt portfolio has a weighted average effective interest rate of 4.96% and weighted average maturity of 3.3 years.

During the third quarter, the Company repaid the $43 million mortgage on Signature Place and the $265 million mortgage on Liberty Towers using a combination of cash on hand, $145 million of additional draws on the Term Loan and a $157 million draw on the Secured Revolving Credit Facility. At quarter end, the Company had liquidity of approximately $170 million.

The $200 million Term Loan balance and $150 million of the Revolver were hedged with interest rate caps at a strike rate of 3.5%. The nine-month interest rate cap on the Revolver has not been designated as an effective accounting hedge to allow for flexibility should the Company repay a portion of the Revolver balance before the interest rate cap expires.

ESG

The Company has again been recognized by global and national real estate organizations for its accomplishments in ESG and DEI. Most significantly, GRESB designated the Company as a Regional Listed Sector Leader in the Residential category, a recognition highlighting the top GRESB assessment performers in the Americas. The Company achieved the highest listed residential score in the U.S. and third-best listed residential score worldwide, earning its third-consecutive 5 Star rating.

The Company was also recognized by Nareit with the Mid Cap Diversity Impact Award for its social responsibility policies.

DIVIDEND

The Company paid a dividend of $0.07 per share on October 16, 2024, for shareholders of record as of September 30, 2024.

GUIDANCE

The Company has raised its 2024 guidance ranges to reflect the favorable outcome of certain non-controllable expenses that were finalized in the third quarter and continued multifamily outperformance.

CONFERENCE CALL/SUPPLEMENTAL INFORMATION

An earnings conference call with management is scheduled for Thursday, October 31, 2024, at 8:30 a.m. Eastern Time and will be broadcast live via the Internet at: http://investors.verisresidential.com.

The live conference call is also accessible by dialing (877) 451-6152 (domestic) or (201) 389-0879 (international) and requesting the Veris Residential third quarter 2024 earnings conference call.

The conference call will be rebroadcast on Veris Residential, Inc.'s website at:

http://investors.verisresidential.com beginning at 8:30 a.m. Eastern Time on Thursday, October 31, 2024.

A replay of the call will also be accessible Thursday, October 31, 2024, through Sunday, December 1, 2024, by calling (844) 512-2921 (domestic) or +1(412) 317-6671 (international) and using the passcode, 13747452.

Copies of Veris Residential, Inc.’s third quarter 2024 Form 10-Q and third quarter 2024 Supplemental Operating and Financial Data are available on Veris Residential, Inc.’s website under Financial Results.

In addition, once filed, these items will be available upon request from:

Veris Residential, Inc. Investor Relations Department

Harborside 3, 210 Hudson St., Ste. 400, Jersey City, New Jersey 07311

ABOUT THE COMPANY

Veris Residential, Inc. is a forward-thinking, environmentally and socially conscious real estate investment trust (REIT) that primarily owns, operates, acquires and develops holistically inspired, Class A multifamily properties that meet the sustainability-conscious lifestyle needs of today's residents while seeking to positively impact the communities it serves and the planet at large. The Company is guided by an experienced management team and Board of Directors, underpinned by leading corporate governance principles; a best-in-class, sustainable approach to operations; and an inclusive culture based on equality and meritocratic empowerment.

For additional information on Veris Residential, Inc. and our properties available for lease, please visit http:// www.verisresidential.com/.

The information in this press release must be read in conjunction with, and is modified in its entirety by, the Quarterly Report on Form 10-Q (the “10-Q”) filed by the Company for the same period with the Securities and Exchange Commission (the “SEC”) and all of the Company’s other public filings with the SEC (the “Public Filings”). In particular, the financial information contained herein is subject to and qualified by reference to the financial statements contained in the 10-Q, the footnotes thereto and the limitations set forth therein. Investors may not rely on the press release without reference to the 10-Q and the Public Filings, available at https://investors.verisresidential.com/financial-information.

We consider 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. We intend 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 may not 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 the Company's Annual Report on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q, which are incorporated herein by reference. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise, except as required under applicable law.

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Consolidated Statement of Operations

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