Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or 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: 1-13274 Veris Residential, Inc. (Registrant's telephone number, including area code) Not Applicable Commission File N ...

Veris Residential Inc. (NYSE:VRE) Q4 2022 Earnings Conference Call February 22, 2023 8:30 AM ET Company Participants Mahbod Nia - Chief Executive Officer Amanda Lombard - Chief Financial Officer Taryn Fielder - General Counsel, Secretary Conference Call Participants Steve Sakwa - Evercore ISI Tom Catherwood - BTIG Joshua Dennerlein - Bank of America Nicholas Joseph - Citi John Pawlowski - Green Street Advisors Derek Johnston - Deutsche Bank Operator Good morning and welcome to the Veris Residential Inc. fou ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K x 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 Commission File Number: 1-13274 Veris Residential, Inc. Commission File Number: 333-57103: Veris Residential, L.P. VERIS RESIDENTIAL, INC. VERIS RESIDENTIAL, L.P. (Exact Name of Registrant a ...

Veris Residential, Inc. (NYSE:VRE) Q3 2022 Results Conference Call November 3, 2022 8:30 AM ET Company Participants Taryn Fielder - General Counsel Mahbod Nia - Chief Executive Officer Amanda Lombard - CFO Conference Call Participants Stephen Sakwa - Evercore ISI Nick Joseph - Citi Tom Catherwood - BTIG John Pawlowski - Green Street Advisors Operator Good morning, and welcome to the Veris Residential Third Quarter 2022 Earnings Conference Call [Operator Instructions. Please note, this event is being recorde ...

Veris Residential, Inc. (NYSE:VRE) Q2 2022 Earnings Conference Call August 4, 2022 8:30 AM ET Company Participants Mahbod Nia – Chief Executive Officer Amanda Lombard – Chief Financial Officer Conference Call Participants Brian Spahn – Evercore Michael Bilerman – Citi Nicholas Joseph – Citi Tom Catherwood – BTIG John Pawlowski – Green Street Advisors Operator Good day, everyone, and welcome to Veris Residential Second Quarter 2022 Earnings Conference Call. Today's call is being recorded. I would like to rem ...

Supplemental Operating and Financial Data Q2 2022 Forward-Looking Statements Veris Residential Inc. (the "Company", "VRE", "we", "our", "us") 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. 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 ...

Part I Financial Information [Financial Statements](index=6&type=section&id=Item%201.%20Financial%20Statements) This section presents unaudited consolidated financial statements for Veris Residential, Inc. and L.P., detailing balance sheets, operations, cash flows, and accounting notes [Veris Residential, Inc. Financial Statements](index=7&type=section&id=Veris%20Residential%2C%20Inc.%20Financial%20Statements) Veris Residential, Inc. reported net income of **$17.3 million** for H1 2022, reversing a **$64.5 million** net loss in H1 2021, with total assets at **$4.31 billion** Veris Residential, Inc. Balance Sheet Summary ($ thousands) | Metric | June 30, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | Total Assets | $4,310,997 | $4,527,318 | | Real estate held for sale, net | $368,625 | $618,646 | | Total Liabilities | $2,327,499 | $2,556,587 | | Total Equity | $1,467,173 | $1,449,418 | Veris Residential, Inc. Statement of Operations Summary ($ thousands, except EPS) | Metric | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | | Total Revenues | $177,459 | $154,220 | | Net Income (Loss) | $30,123 | $(60,510) | | Net Income (Loss) available to common shareholders | $17,281 | $(64,456) | | Diluted EPS | $0.12 | $(0.75) | Veris Residential, Inc. Cash Flow Summary ($ thousands) | Metric | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | | Net Cash from Operating Activities | $45,710 | $27,947 | | Net Cash from Investing Activities | $155,074 | $490,099 | | Net Cash from Financing Activities | $(198,810) | $(516,573) | [Veris Residential, L.P. Financial Statements](index=12&type=section&id=Veris%20Residential%2C%20L.P.%20Financial%20Statements) Veris Residential, L.P. reported net income of **$19.1 million** for H1 2022, reversing a **$70.9 million** net loss in H1 2021, with results similar to Veris Residential, Inc Veris Residential, L.P. Balance Sheet Summary ($ thousands) | Metric | June 30, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | Total Assets | $4,310,997 | $4,527,318 | | Total Liabilities | $2,327,499 | $2,556,587 | | Total Partners' Capital | $1,428,530 | $1,409,035 | Veris Residential, L.P. Statement of Operations Summary ($ thousands, except EPU) | Metric | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | | Total Revenues | $177,459 | $154,220 | | Net Income (Loss) | $30,123 | $(60,510) | | Net Income (Loss) available to common unitholders | $19,078 | $(70,919) | | Diluted EPU | $0.12 | $(0.75) | [Notes to Consolidated Financial Statements](index=22&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes detail accounting policies and financial activities, covering organizational structure, property transactions, debt, segment performance, and noncontrolling interests - As of June 30, 2022, the company's portfolio consisted of 36 properties, including 23 multifamily rental properties, six office properties, four parking/retail properties, and three hotels[50](index=50&type=chunk) - The company is in the process of selling its Suburban Office Portfolio, with results from these properties classified as discontinued operations. As of June 30, 2022, only one asset from this portfolio remained to be sold[67](index=67&type=chunk)[95](index=95&type=chunk) - The company operates in two business segments: (i) multifamily real estate and services and (ii) commercial and other real estate. For the six months ended June 30, 2022, the multifamily segment generated **$50.5 million** in net operating income, while the commercial segment generated **$48.2 million**[206](index=206&type=chunk)[209](index=209&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=56&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q2 and H1 2022 financial performance, attributing net income growth to property sales and reduced debt extinguishment losses, covering liquidity, capital, debt, and FFO [Results of Operations](index=57&type=section&id=Results%20of%20Operations) Net income significantly improved in Q2 and H1 2022, driven by a **$57.7 million** gain on land sales and reduced debt extinguishment losses, with same-store revenue from leases growing **5.2%** Net Income (Loss) Comparison ($ thousands) | Period | 2022 | 2021 | | :--- | :--- | :--- | | Three Months Ended June 30 | $34,650 | $(74,031) | | Six Months Ended June 30 | $30,123 | $(60,510) | - The increase in net income for the first six months of 2022 was primarily driven by a **$57.7 million** gain on the disposition of developable land and a significant reduction in losses from debt extinguishment compared to the prior year[259](index=259&type=chunk)[260](index=260&type=chunk) - Same-Store Properties' revenue from leases increased by **$3.5 million (5.2%)** in Q2 2022 compared to Q2 2021, mainly due to higher occupancy, increased market rental rates, and reduced concessions in the multifamily portfolio[229](index=229&type=chunk) [Liquidity and Capital Resources](index=65&type=section&id=Liquidity%20and%20Capital%20Resources) The company expects to meet liquidity needs via property sales and credit facilities, with total debt at **$2.23 billion** as of June 30, 2022, and the common dividend suspended for strategic transition - The company's primary sources of liquidity are rental revenue, proceeds from property sales, and borrowings under its revolving credit facility[264](index=264&type=chunk)[265](index=265&type=chunk) - The common stock dividend has been suspended since Q3 2020 and is expected to remain suspended through 2022 to provide financial flexibility during the company's strategic transition to a multifamily REIT[268](index=268&type=chunk) Debt Summary as of June 30, 2022 ($ thousands, %) | Debt Type | Balance ($000's) | % of Total | Weighted Avg. Interest Rate | | :--- | :--- | :--- | :--- | | Fixed Rate Secured | $1,532,416 | 68.50% | 3.70% | | Variable Rate Secured | $704,672 | 31.50% | 3.72% | | **Total** | **$2,237,088** | **100.00%** | **3.70%** | [Funds from Operations (FFO)](index=69&type=section&id=Funds%20from%20Operations) FFO available to common stock and OP unitholders was **$63.8 million** for Q2 2022 and **$80.8 million** for H1 2022, a significant improvement from prior-year losses, adjusted for real estate depreciation and property sales Funds from Operations (FFO) Reconciliation ($ thousands) | Metric | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | | :--- | :--- | :--- | | Net income (loss) available to common shareholders | $26,373 | $(72,079) | | Adjustments (Depreciation, Property Sales, etc.) | $37,411 | $24,562 | | **FFO available to common stock and OP unitholders** | **$63,784** | **$(47,517)** | | **Metric** | **Six Months Ended June 30, 2022** | **Six Months Ended June 30, 2021** | | Net income (loss) available to common shareholders | $17,281 | $(64,456) | | Adjustments (Depreciation, Property Sales, etc.) | $63,536 | $33,325 | | **FFO available to common stock and OP unitholders** | **$80,817** | **$(31,131)** | [Quantitative and Qualitative Disclosures About Market Risk](index=71&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate changes, with **$1.5 billion** in fixed-rate debt; a 100 basis point rate change would impact variable-rate debt interest costs by **$7.0 million** annually - The company's main market risk is interest rate risk, which affects its cost of funds and the value of its fixed-rate debt[305](index=305&type=chunk) - A 100 basis point increase or decrease in interest rates would change annual interest costs on variable-rate debt by approximately **$7.0 million**[307](index=307&type=chunk) [Controls and Procedures](index=72&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures for Veris Residential, Inc. and L.P. were effective as of June 30, 2022, with no material changes to internal control over financial reporting - Management concluded that the disclosure controls and procedures for both the General Partner (Veris Residential, Inc.) and the Operating Partnership (Veris Residential, L.P.) were effective as of June 30, 2022[310](index=310&type=chunk)[312](index=312&type=chunk) - There were no changes in internal control over financial reporting during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal controls[311](index=311&type=chunk)[313](index=313&type=chunk) Part II Other Information [Legal Proceedings](index=74&type=section&id=Item%201.%20Legal%20Proceedings) The company reports no material pending legal proceedings beyond ordinary routine litigation incidental to its business - There are no material pending legal proceedings against the company[316](index=316&type=chunk) [Risk Factors](index=74&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were reported since the company's Annual Report on Form 10-K for the year ended December 31, 2021 - No material changes to risk factors were reported since the last annual report[317](index=317&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=74&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q2 2022, **11,508** shares of common stock were issued in private offerings in exchange for common units - In Q2 2022, **11,508** shares of common stock were issued in exchange for common units in private offerings under Section 4(a)(2) of the Securities Act[321](index=321&type=chunk)

Corporate Presentation JUNE 2022 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 forwardlooking statements relate to, without limitation, our future economic performance, plans and objectives for future operations and projections of revenue ...

Veris Residential, Inc. (NYSE:VRE) Q1 2022 Earnings Conference Call May 5, 2022 8:30 AM ET Company Participants Mahbod Nia - CEO Amanda Lombard - CFO Conference Call Participants Tom Catherwood - BTIG Brian Spahn - Evercore ISI Michael Bilerman - Citi John Pawlowski - Green Street Advisors Operator Good day, everyone, and welcome to Veris Residential’s First Quarter 2022 Earnings Conference Call. Today's call is being recorded. I would like to remind everyone that certain information discussed on this call, ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or 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: 1-13274 Veris Residential, Inc. Commission File Number: 333-57103 Veris Residential, L.P. Veris Residential, Inc. (73 ...