Contents Empire State Building ° Competitive advantages | --- | --- | --- | --- | |------------------------------------|----------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36105 Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller ...

Empire State Realty Trust, Inc. (NYSE:ESRT) Q1 2023 Results Conference Call April 27, 2023 12:00 PM ET Company Participants Heather Houston - Senior Vice President, Chief Counsel, Corporate and Secretary Tony Malkin - Chairman, President and Chief Executive Officer Tom Durels - Executive Vice President, Real Estate Christina Chiu - Executive Vice President, Chief Operating Officer & Chief Financial Officer Conference Call Participants Steve Sakwa - Evercore ISI John Kim - BMO Capital Markets Michael Griffin ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36105 EMPIRE STATE REALTY TRUST, INC. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or orga ...

Financial Data and Key Metrics Changes - For Q4 2022, the company reported core FFO of $59 million or $0.22 per diluted share, compared to core FFO of $50 million or $0.18 per diluted share for Q4 2021, indicating a year-over-year increase of 22% in core FFO per share [39] - The full-year 2022 core FFO was $244 million or $0.90 per diluted share, up from $195 million or $0.70 per diluted share in 2021, exceeding guidance expectations [61] - The company's balance sheet as of December 31, 2022, had total liquidity of $1.1 billion, consisting of $264 million in cash and $850 million in undrawn capacity on its revolving credit facility [41] Business Line Data and Key Metrics Changes - The observatory hosted 660,000 visitors in Q4 2022, generating NOI of $23.8 million, significantly up from 360,000 visitors and NOI of $10.7 million in Q4 2021 [40] - The company signed office and retail leases totaling 144,000 square feet in Q4 and over 1.1 million square feet for the full year, with a 260 basis points increase in Manhattan office portfolio leased percentage [60] - The observatory NOI expectations for 2023 are projected to be approximately $88 million to $96 million, up from $75 million in 2022 [47] Market Data and Key Metrics Changes - The Manhattan office leased percentage improved by 260 basis points, and occupancy increased by 210 basis points for the year, benefiting from the flight to quality trend [139] - The company achieved positive mark-to-market lease spreads in each of the last four quarters, with steady net effective rent growth throughout the year [138] - The commercial portfolio is now over 85% occupied and over 88% leased, reflecting strong demand for high-quality assets [69] Company Strategy and Development Direction - The company aims to lease space, sell tickets to the observatory, manage its portfolio proactively, achieve sustainability goals, and drive shareholder value [19] - The addition of multi-family assets to the portfolio since December 2021 has diversified cash flow streams and strengthened the company's position in New York City [10] - The company has executed a capital recycling strategy, selling suburban assets and reinvesting in Manhattan multi-family properties [44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to drive leased rates higher in 2023, supported by a strong balance sheet and ongoing demand for quality office space [33] - The company anticipates same-store cash NOI to decline by 4% to 6% in 2023, primarily due to an expected 8% increase in property operating expenses [66] - Management highlighted the importance of maintaining a strong customer experience at the observatory while balancing volume and price [54] Other Important Information - The company achieved carbon neutrality in 2022 and aims for net zero emissions by 2035, reflecting its commitment to sustainability [28] - The company repurchased $88.9 million of its common stock in 2022, bringing the cumulative buyback total to $281 million, representing approximately 11% of total shares outstanding [141] - The company is the only New York City commercial landlord on the Local Law 97 implementation Advisory Board, emphasizing its leadership in ESG initiatives [29] Q&A Session Summary Question: What are the expectations around leasing spreads for Greater New York Metropolitan office and retail portfolios? - Management expects flat to modest negative spreads in the Greater New York Metropolitan portfolio, offset by the value of leasing up vacant space [75] Question: How are you balancing volume and price for the observatory? - Management emphasized maintaining customer experience while increasing average ticket prices, focusing on quality over volume [54] Question: What is the outlook for same-store NOI in 2023? - Management provided guidance of a 4% to 6% decline in same-store cash NOI, reflecting conservatism due to uncertainties in the market [66][125] Question: What are the plans for the use of proceeds from asset sales? - Most proceeds will be redeployed, with further details to be provided as more information becomes available [111] Question: How does the company view the current office market and potential dispositions? - The company is monitoring the market closely and will explore sales when conditions are favorable, leveraging its strong balance sheet [115]

1 Observatory revenues include the fixed license fee received from WDFG North America, the Observatory gift shop operator. 2 The 102nd floor was closed for 1Q 2018 to replace elevator. The revenue impact was approximately $3 million dollars. 3 The 102v6 floor was closed for -9 months in 2019 for redevelopment. The revenue impact was approximately $9 million dollars for those 9 months. 4 The Observatory experienced a significant decline in visitors from the 2nd week of March and was closed on March 16, 2020 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | |------------------------------------------------------------------------------|----------------------------------------------------------------- ...

Empire State Realty Trust, Inc. (NYSE:ESRT) Q3 2022 Earnings Conference Call October 26, 2022 ET Company Participants Heather Houston - SVP, Deputy General Counsel and Corporate Secretary Anthony Malkin - Chairman, CEO and President Tom Durels - EVP, Real Estate Christina Chiu - EVP and CFO Conference Call Participants Camille Bonnel - Bank of America Merrill Lynch Blaine Heck - Wells Fargo Steve Sakwa - Evercore ISI Michael Griffin - Citi Daniel Ismail - Green Street John Kim - BMO Operator Greetings, and ...

EMPIRE STATE REALTY TRUST Investor Presentation October 2022 One Grand 250 W Central Place LinkedIn at ESB Empire State Building Empire Building Playbook Launch with A3 Artists Agency at ESB President Clinton, Governor Hochul, Mayor Adams Contents Company Priorities Competitive Advantages Flight To Quality Attractive Value Proposition Contracted Rents and Tenant Expansions Strong & Flexible Balance Sheet Focus on ESG Initiatives Sustainability Leadership & Scorecard ESRT Property Sector Highlights Office ES ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | |------------------------------------------------------------------------------|---------------------------------------------------------------------- ...