Vornado Realty Trust · NYSE:VNO

Vornado Realty Trust — Investor Presentation (June 2016)

6 slides from Vornado Realty Trust's investor presentation, Jun 7, 2016

  1. Slide 1: Incremental cash revenue (a surrogate for NOI) from signed leases (AT share)

    incremental cash revenue (a surrogate for NOI) From signed leases (AT share) Incremental cash rental revenue is estimated based on leases signed as of March 31, 2016, that have not commenced, or that have not fully commenced, for cash rental recognition. Because property operating expenses and real

  2. Slide 2: Components of net asset value (AT share)

    Components of net asset value (AT share) Q12016 Annualized (unaudited and in millions, except share amounts(Comparable EBITDA Non-cash Adjustments ill, Add-back: G&A 121 Comparable Cash 601 Incremental Na I from Signed Leases (see page 8) Pro-forma Cash 601 New ‘York - Office (excludes BMS) $ 591 $

  3. Slide 3: Notes to Components of net asset value

    Notes to Components of net asset value: 3 Annualized straight-line rent adjustments and acquired below market leases non-cash income (FAS 141) , inclusive of our share of unconsolidated joint ventures; and $21 for annualized other non-cash adjustments including (i) add back of one-time straight line

  4. Slide 4: Appendix - EBITDA reconciliation, three months ended March 31, 2016

    4 APPENDIX - RECONCILIATION OF NET (LOSS) INCOME TO EBITDA AS ADJUSTED FOR COMPARABILITY (unaudited and in thousands) Three Months Ended March 31, 2016 Net (loss) income attributable to Vornado Interest and debt expense, including our share of partially owned Depreciation and amortization, including

  5. Slide 5: Appendix - Notes to EBITDA reconciliation

    5 APPENDIX - NOTES TO RECONCILIATION OF NET (LOSS) INCOME TO EBITDA AS ADJUSTED FOR COMPARABILITY The amounts in these captions (for this table only) exclude the results of the mark-to-market of our deferred compensation plan of $1,938 loss for the three months ended March 31, 2016. APPENDIX - NOTES

  6. Slide 6: Appendix - Notes to Vornado

    APPENDIX - NOTES TO RECONCILIATION OF NET (LOSS) VORNADO INCOME TO EBITDA AS ADJUSTED FOR COMPARABILITY eaury TaueT ES (onnttasandin thw) (2) Deas of New York EBITDA as ajusted for comparably: Office fnlaing BMS EBITDA of $5,085) etal Redden! Alexie Hotel Pennsyvana Total New York (2) Dewilsof Washi

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