Empire State Realty Trust, Inc. · NYSE:ESRT
Empire State Realty Trust — Investor Presentation (June 2026)
28 slides from Empire State Realty Trust's investor presentation, Jun 2, 2026
Slide 1: Empire State Realty Trust Investor Presentation June 2026
Fawn Mul urpose Space at E: = EMPIRE STATE REALTY TRUST Investor Presentation June 2026 Empire Lounge at ESB CLA at One Grand Central Place Empiré'State‘Building
Slide 2: Contents
Contents Recent Highlights ESRT Overview ESRT Property Sector Highlights Key Takeaways Appendix
Slide 3: Recent Highlights
Recent Highlights
Slide 4: ESRT Highlights: Recent Highlights
| ESRT HIGHLIGHTS, Recent Highlights Positive leasing fundamentals * 93.2% leased and 88.2% occupied commercial portfolio as of 1@26 Temporary downtime related to previously disclosed FDIC expiration, which is re-leased, temporarily reduced occupancy by -140 bps in Office & 1026 Retail * +6,8% posit
Slide 5: ESRT Overview
ESRT Overview
Slide 6: ESRT Overview: Why ESRT?
= ESRT OVERVIEW Why ESRT? * Unique, high-quality NYC portfolio that benefits from live, work, play, visit * Complementary income streams: Office, ESB Observation Deck, Retail, Multifamily * NYC is the international capital of the world * NYC is an irreplaceable market that is resilient, vibrant, wit
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• • • • • • • • • • • • • • 56% 23% 15% 6% Office ESB Observation Deck Retail Multifamily
Slide 8: Company Priorities
Es COMPANY PRIORITIES Laser Focused on Shareholder Value Four priorities to drive long-term value creation Sell Observation Deck Tickets Manage Our Balance Sheet Achieve Sustainability Goals » Best-in-class portfolio » Globally recognized » Financial stability is key » Recognized sustainability capt
Slide 9: Competitive Advantages: Balance Sheet Maintenance
| COMPETITIVE ADVANTAGES Balance Sheet Maintenance Net Debt / Adj. EBITDA’ Flexi ity Optionality 6.3x vs. Peers? 92x *» Lowest leverage among NYC peers * Operational runway » Well-laddered debt maturity schedule Recycle capital » Limited secured debt External growth eacured Debts (Pro: r ora for sal
Slide 10: Competitive Advantages: Strategic Capital Recycling
=U COMPETITIVE ADVANTAGES Strategic Capital Recycling to Improve Cash Flow Transformed and Upgraded Portfolio Transitioned to 100% NYC — Sold 6 suburban assets (1.8M SF) in 2022-25 | Redeployed into NYC multifamily and retail — Sold 250 West 57th Street in 2026 | Redeployed into 130 Mercer Cumulativ
Slide 11: ESRT Property Sector Highlights
ESRT Property Sector Highlights 1
Slide 12: Office
OFFICE Prime Locations, Well-Located Near Mass Transit One-Seat Commute All properties are near mass transit and majority are one-seat commutes Campus Portfolio Proximity creates valuable synergies and shared amenities Aligned with Tenant Priorities Transit proximity and amenities drive office space
Slide 13: Office properties and virtual tours
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Slide 15: Office: Why Tenants Choose ESRT
OFFICE Why Tenants Choose ESRT “When clients find out we're in the Empire State Building, the meeting location stops being a question. They want to come to us. It’s the type of office where ‘meet me here’ feels like an invitation, not a request. Visitors pull out their 2, AB «iB 108. 182, 163. 208 2
Slide 16: Office: Strong & Diverse Tenant Mix
| OFFICE Strong & Diverse Tenant Mix Prime top of tier assets attract top quality tenants! JANEIRO Linked [J iCapital KEARNEY SQL ESPRESSO. Bookie shutterstock CITIZEN EW YORK NYSERDA FRAGOMEN L’OCCITANE ™ Technology, Media and Advertising EN PROVENCE ™Finance, Insurance, Real Estate = Consumer Prod
Slide 17: ESB Observation Deck Attraction
Ney Tripadvisor rl So] Best ot ee ESB Observation Deck Attraction FI intheus Empire State Building Observation Deck Brand Power House of the | Mercedes-AMG PETRONAS * “World's Most Famous Building” * Inflation hedge Dragon Activation | F1 and WhatsApp Activation ‘ i i me SERENE * Top Uber tourist at
Slide 18: • • • • • • Icon Description automatically generated starbucks reserve online shop
• • • • • • Icon Description automatically generated starbucks reserve online shop Cheap - OFF 62% starbucks reserve online shop Cheap - OFF 62%
Slide 19: Retail
RETAIL ~$300M Portfolio (Acquisition Value) | Upside Opportunities Investment Thesis * Built on ESRT’s core strength in urban retail * Significant mark-to-market over time * High-foot traffic, prime locations * Achieved scale in a supply-constrained market * Lease up of vacancy * High population den
Slide 20: Multifamily
MULTIFAMILY Multifamily Low vacancy and minimal new supply supports rental growth 20 ae Mulberry Street Mulberry St. & East Houston St. * Subway lines: B, D, F,M&6 * 96 Units, 100% free market * Studio, IBR, 2BR * Retail space leased to CVS * 24-hour doorman, fitness center, resident lounge, roof de
Slide 21: Key Takeaways
Key Takeaways High-quality, well-leased NYC portfolio with rent growth 21| 28 Unique NYC Portfolio Strong Balance Sheet Favorable Supply Picture Aligned Management Sustainability Leadership Pure play NYC portfolio aligned with “live, work, play, visit” trends across office, retail, multifamily, and
Slide 22: Appendix
Appendix 22 Experienced and Aligned Management Sustainability Leadership Reconciliation of Non-GAAP Measures Footnotes Disclaimer
Slide 23: Meet the Team
| MEET THE TEAM Experienced and Aligned Management Management team has a deep understanding of NYC market, real estate and capital markets B air da a Anthony E. Malkin Christina Chiu Thomas P. Durels Steve Horn Ryan Kass Jackie Renton Chairman & President Executive Vice Executive Vice Executive Vice
Slide 24: Sustainability Leadership
Sustainability Leadership Achievements and Engagement “ Our Chairman and CEO, Anthony E. Malkin is a recognized leader on ¥ Real Estate Roundtable Sustainability Policy silt initiath Advisory Committee (chair & committee member) ; sustainability initiatives for our local and national community = Cha
Slide 25: Reconciliation of Net Income to Cash NOI and Same Store Cash NOI
1 Reconciliation of Net Income to Cash NOI and Same Store Cash NOI March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Net income $ 2,995 $ 32,172 $ 13,645 $ 11,385 $ 15,778 Add: General and administrative expenses 18,093 18,474 18,743 18,685 16,940 Depreciation and amor
Slide 26: Reconciliation of Net Income to EBITDA and Adjusted EBITDA
1 1 Three Months Ended Twelve Months to Date March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Rental revenue $ 553,610 $ 144,296 $ 138,956 $ 136,371 $ 133,987 Tenant expense reimbursement 84,166 21,809 20,765 22,039 19,553 Deduct: Straight-line rental revenues (19,965) (7,209) (4,32
Slide 27: Footnotes
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Slide 28: Disclaimer
This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. We intend these forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-l
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