e World 2024 2022-2024 North 6th Collection the Dragon Acti Williamsburg, Brooklyn at the Empire State Building Hecker Fink LLP at Empire State Building CLA at One Grand Central Place 111 W 33rd Street EMPIRE STATE REALTY TRUST Investor Presentation October 2024 REALTY TRU Contents ESRT Overview Company Priorities Competitive Advantages Flight To Quality Contracted Rents and Tenant Expansions Strong and Flexible Balance Sheet Portfolio Transformation & Redevelopment Capital Recycling ESRT Property Sector Hi ...

Financial Performance - As of September 30, 2024, the company reported a significant increase in Same Store Net Operating Income (NOI) of 5.2% compared to the previous year[13]. - The company achieved a Funds From Operations (FFO) of $45 million for the third quarter of 2024, representing a 10% increase year-over-year[7]. - The company’s Core FFO for the third quarter was reported at $42 million, reflecting a 12% increase compared to the same period last year[9]. - Empire State Realty Trust reported a net income of $XX million for Q3 2024, reflecting a YY% increase compared to the previous quarter[19]. - The company reported a loss on early extinguishment of debt of $553,000 in Q2 2024, with no such loss reported in Q3 2024[30]. - For the three months ended September 30, 2024, the net income was $22,796,000, compared to $28,555,000 for June 30, 2024, reflecting a decrease of approximately 20%[52]. - The Company reported a total EBITDA of $99,467,000 for the third quarter of 2024, compared to $102,729,000 for the previous quarter, showing a decrease of about 3.3%[55]. Leasing Activity - The company anticipates a continued upward trend in leasing activity, projecting a 15% increase in new leases signed in the upcoming quarter[3]. - The total leases executed in the third quarter of 2024 increased to 31 from 25 in the previous quarter, reflecting a 24% growth[32]. - The average starting cash rent per square foot for leases executed rose to $70.11, up from $64.03 in the previous quarter, indicating an increase of 9.7%[32]. - The total square footage executed for the office and retail portfolio reached 304,210 square feet, up from 271,981 square feet in the previous quarter, representing an increase of 11.8%[32]. - The total number of leases across the portfolio is 586, indicating strong leasing activity[36]. Portfolio Expansion and Strategy - The company is focusing on expanding its portfolio, with plans to acquire additional properties valued at approximately $200 million in the next fiscal year[5]. - The company plans to continue expanding its portfolio of modernized office, retail, and multifamily assets in New York City[19]. - The company is actively exploring strategic partnerships to enhance its market presence and drive growth in key urban areas[4]. Financial Health and Debt Management - The company’s debt-to-equity ratio improved to 0.45, down from 0.50 in the previous quarter, indicating a stronger balance sheet[21]. - Total debt as of September 30, 2024, was $2,295,624,000 with a weighted average interest rate of 4.27% and an average maturity of 5.3 years[57]. - Maximum total leverage ratio is 33.2%, well below the required limit of 60%[58]. - Minimum fixed charge coverage ratio stands at 2.9x, exceeding the required minimum of 1.50x[58]. - The company maintains compliance with all covenants, including a minimum unencumbered interest coverage ratio of 4.7x[58]. Revenue and Income Sources - Rental revenue for Q3 2024 was $153,117, an increase of 0.4% from $152,470 in Q2 2024[25]. - Observatory revenue increased to $39,382 in Q3 2024, up 15.5% from $34,124 in Q2 2024[25]. - Total operating income for Q3 2024 was $45,346, compared to $39,361 in Q2 2024, reflecting a 15.1% increase[25]. - Total cash NOI for Q3 2024, including Observatory and lease termination fees, was $108,551,000, up from $104,023,000 in Q2 2024[30]. Occupancy and Tenant Retention - The company reported a 7% increase in tenant retention rates, indicating strong demand for its properties[12]. - The occupancy rate improved to 88.8%, compared to 87.6% in the previous quarter, showing a 1.4% increase[32]. - The occupancy rate for the multifamily portfolio was 96.8% in Q3 2024, down from 97.9% in Q2 2024[34]. - The Empire State Building has an occupancy rate of 91.2% with annualized rent of $165,471,743, equating to $66.96 per square foot[36]. Operational Efficiency and Investments - The company is investing $10 million in technology upgrades to enhance operational efficiency and tenant experience[8]. - The company is focused on energy efficiency and indoor environmental quality, positioning itself as a leader in these areas[19]. Future Outlook - Future outlook remains positive with ongoing investments in new technologies and market expansion strategies[19]. - The company anticipates a significant increase in renewals and relocations, with a forecast of 34,966 for the full year 2025[39].

Investors interested in REIT and Equity Trust - Other stocks are likely familiar with Empire State Realty Trust (ESRT) and National Health Investors (NHI) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out. There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven ...

Investors with an interest in REIT and Equity Trust - Other stocks have likely encountered both Empire State Realty Trust (ESRT) and National Health Investors (NHI) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look. Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a pr ...

Investors with an interest in REIT and Equity Trust - Other stocks have likely encountered both Empire State Realty Trust (ESRT) and CubeSmart (CUBE) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look. The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our ...

Exhibit 99.2 SecondQuarter2024 | Table of Contents | Page | | --- | --- | | Summary | | | Supplemental Definitions | 3 | | Company Profile | 5 | | Condensed Consolidated Balance Sheets | 6 | | Condensed Consolidated Statements of Operations | 7 | | Highlights | 8 | | Selected Property Data | | | Property Summary Net Operating Income | 9 | | Same Store Net Operating Income ("NOI"), Initial Cash Rent Contributing to Cash NOI | 10 | | Leasing Activity | 11 | | Commercial Property Detail | 13 | | Portfolio Expi ...

Financial Performance - Net income attributable to common stockholders for the three months ended March 31, 2024, was $5.7 million, a decrease of 13.2% compared to the same period in 2023[137]. - For the three months ended March 31, 2024, net income was $10,215,000, a decrease of 12.6% from $11,694,000 in the same period of 2023[182]. - Core Funds From Operations (Core FFO) for the same period was $56.5 million, attributable to common stockholders and the operating partnership[137]. - Funds from Operations (FFO) attributable to common stockholders was $54,018,000, representing a 31.7% increase from $41,015,000 in the prior year[188]. - Modified FFO attributable to common stockholders rose to $55,976,000, an increase of 30.2% compared to $42,973,000 in 2023[188]. - Core FFO attributable to common stockholders reached $56,529,000, up 31.5% from $42,973,000 in the same quarter of 2023[188]. - Net operating income (NOI) increased to $92,851,000, up 15.9% from $80,177,000 year-over-year[182]. Revenue and Leasing - Total revenues increased by 10.1% to $181.2 million for the three months ended March 31, 2024, compared to $164.6 million in the same period of 2023[140]. - The commercial portfolio was 91.1% leased, while the Manhattan office portfolio was 92.7% leased as of March 31, 2024[139]. - The company signed a total of 248,108 rentable square feet of new, renewal, and expansion leases during the three months ended March 31, 2024[139]. - Observatory revenues increased by 11.0% to $24.6 million for the three months ended March 31, 2024, driven by increased visitation and revenue per visitor[145]. - The Observatory hosted 485,000 visitors in Q1 2024, a 9% increase from 443,000 visitors in Q1 2023, with revenue rising to $24.6 million, an 11% increase from $22.2 million[191]. Cash and Debt Management - The company had $333.6 million in cash and cash equivalents and $500.0 million available under its unsecured revolving credit facility as of March 31, 2024[148]. - Total consolidated indebtedness outstanding was approximately $2.2 billion with a weighted average interest rate of 3.97% as of March 31, 2024[148]. - Mortgage notes payable amounted to $876.5 million as of March 31, 2024, with the next maturity due in November 2024[153]. - The weighted average interest rate on $2.2 billion of fixed-rate indebtedness was 3.97% per annum as of March 31, 2024[200]. - The fair value of outstanding debt was approximately $2.0 billion, which was about $210.6 million less than the book value as of March 31, 2024[201]. - As of March 31, 2024, the company reported a maximum total leverage of 34.7%, well below the required limit of 60%[152]. Capital Expenditures and Future Plans - Capital expenditures for the three months ended March 31, 2024, totaled $20.1 million, an increase from $12.9 million in the same period of 2023[165]. - The company expects to incur approximately $125.2 million in additional costs for tenant improvements and leasing commissions[166]. - The company plans to issue $225 million in senior unsecured notes, including $155 million of 7.20% Series I Green Guaranteed Senior Notes due June 17, 2029[156]. Economic Environment and Challenges - The company is navigating an uncertain economic environment with concerns about the commercial real estate market and potential impacts on visitor numbers to the Observatory[194]. - Net cash provided by operating activities decreased by $15.5 million to $70.9 million due to changes in working capital[174]. - Distributions to equity holders amounted to $10.6 million for the three months ended March 31, 2024, compared to $9.7 million for the same period in 2023[172]. Acquisitions and Investments - The company closed on the acquisition of a Williamsburg retail property for a purchase price of $26.4 million on September 14, 2023[150]. - The company executed a buyout of a partner's 10% interest in two multifamily properties for $14.2 million in cash and assumed $18.0 million of in-place debt[150].

EMPIRE STATE REALTY TRUST Contents 2 | 29 Why ESRT? ® Pure play NYC REIT with multiple drivers of upside ° Competitive advantages ® ESRT puts points on the board with performance 3 | 28 MPIRE STATE Office, Observatory, Retail and Multifamily COMPANY PRIORITIES 5 | 29 · Read more in ESRT's Sustainability Report STAR WARS Activation at the Empire State Building Kaplan Hecker & Fink LLP at Empire State Building CLA at One Grand Central Place 111 W 33d Street Observatory ESRT Overview Company Priorities Competi ...

Exhibit 99.2 FirstQuarter2024 | Table of Contents | Page | | --- | --- | | Summary | | | Supplemental Definitions | 2 | | Company Profile | 5 | | Condensed Consolidated Balance Sheets | 6 | | Condensed Consolidated Statements of Operations | 7 | | Highlights | 8 | | Selected Property Data | | | Property Summary Net Operating Income | 9 | | Same Store Net Operating Income ("NOI"), Initial Cash Rent Contributing to Cash NOI | 10 | | Leasing Activity | 11 | | Commercial Property Detail | 13 | | Portfolio Expir ...

Investors interested in stocks from the REIT and Equity Trust - Other sector have probably already heard of Empire State Realty Trust (ESRT) and Omega Healthcare Investors (OHI) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnin ...