Empire State Realty Trust, Inc. · NYSE:ESRT
Empire State Realty Trust — Investor Presentation (February 2022)
29 slides from Empire State Realty Trust's investor presentation, Feb 17, 2022
Slide 1: Investor Presentation
Investor Presentation February 2022
Slide 2: Contents
Overview Contents ESRT Portfolio Meet the Team: ESRT Management Appendix
Slide 3: Profit from the NYC Recovery
ESRT OVERVIEW Profit from the ▪ NYC Recovery OFFICE ▪ ▪ ▪ ESB OBSERVATORY EXPERIENCE ▪ ▪ ▪ ▪ ▪ RETAIL ▪ ▪ MULTIFAMILY ▪
Slide 4: Flight To Quality At Price Points Accessible to the Broadest Range of Tenants
ESRT OVERVIEW Flight To Quality At Price Points Accessible to the Broadest Range of Tenants:
Slide 5: Flight To Quality
ESRT OVERVIEW Flight To Quality Great Fundamentals Green Power “250 West 57th Street has great infrastructure ESRT Became the Nations Largest 100% and good architecture. It’s not just an old building; it’s a pre- User of Green Power in Real Estate war trophy. They make remarkable workplaces for the
Slide 6: Sustainability Leader
ESRT OVERVIEW Sustainability Leader ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Slide 7: Sustainability Scorecard
ESRT OVERVIEW Sustainability Scorecard 75% 76% 30% Air Quality and HVAC 100% 100% 30% 86% 29%
Slide 8: Strong & Flexible Balance Sheet
ESRT OVERVIEW Strong & Flexible Balance Sheet 1400 ▪ 1200 1000 ▪ $530 800 ▪ 600 ▪ 400 ▪ 200 $194 $31 ▪ 0 $78 $50 ▪ ▪ ▪ ▪
Slide 9: Attractive Value Proposition
OFFICE Attractive Value Proposition aa
Slide 10: Resilient and Future-Proofed
OFFICE Resilient and Future-Proofed ▪ ▪ ▪ ▪ ▪
Slide 11: Centrally Located Near Mass Transit
OFFICE Centrally Located Near Mass Transit 9 minutes
Slide 12: Contracted Rents & Tenant Expansions
OFFICE & RETAIL Contracted Rents & Contracted Rents of $46M: SLNC and Free-Rent Burn-Off Tenant Expansions $50 $45 $40 (In $Millions) $35 $20.16M $23.55M $23.80M $30 $25 $20 $ $15 $4.10M $10 $23.59M $23.70M $22.35M $14.32M $5 $0 ▪ 2022 2023 2024 2025 ▪ ▪ Cumulative Growth from Tenant Expansions1 Num
Slide 13: World Icon and Proven Performer
ESB OBSERVATORY World Icon and Proven Performer Observatory $140.0 revenue1 (millions) 2001 – 2019 CAGR 9.0% $120.0 ▪ $100.0 ▪ $80.0 $112.2 $127.1 $128.8 $60.0 $111.5 $124.8 $131.2 $101.8 $91.9 $72.2 $78.9 $40.0 $62.9 $71.6 $80.6 $56.3 $20.0 $50.1 $41.5 $33.4 $29.1 $25.0 $40.0 $29.6 ▪ $- 2001 2002 2
Slide 14: Recovery & Per Capita Revenue Opportunity
ESB OBSERVATORY Recovery & Per Capita $50 Revenue $40 Opportunity $30 $20 ▪ ▪ ▪ ▪ • • •
Slide 15: Retail Portfolio Highlights
RETAIL Portfolio Highlights ▪ ▪ ▪ ▪ ▪
Slide 16: Recent Acquisition Expands NYC Opportunity Set for Recovery and Future Growth
MULTIFAMILY Recent Acquisition Expands NYC Opportunity Set for Recovery and Future Growth ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Slide 17: The Victory
MULTIFAMILY The Victory 561 10th Avenue High Quality Amenities and Larger Layouts ▪ ▪ Midtown West Submarket Fundamentals1 ▪ ▪ ▪
Slide 18: 345 E94th Street
MULTIFAMILY 345 E94th Street High Quality Amenities and Larger Layouts ▪ THE FRICK ▪ ▪ Upper East Side Submarket Fundamentals1 ▪ ▪
Slide 19: ESRT Management Aligned to Maximize Value
MEET THE TEAM ESRT Management Aligned to Maximize Value Anthony E. Malkin Christina Chiu Thomas P. Durels Thomas N. Keltner, Jr.
Slide 20: Appendix
Overview Appendix Social Responsibility and Governance Environmental Goals & Progress Reconciliation of Non-GAAP Measures Disclaimer
Slide 21: Sustainability
OVERVIEW Sustainability ▪ ▪ ▪ ▪ ▪ CLICK ▪ TO READ ▪ ▪ ▪ ▪ About ESRT Sustainability & ESG Initiatives
Slide 22: Achievements & Leadership
SUSTAINABILITY Achievements & Leadership ▪ Industry Leadership & Engagement ✓ ▪ ✓ ▪ ✓ ▪ ✓ ▪ ✓ ▪ ✓ ✓ ▪ ✓ ▪ ▪ ▪
Slide 23: Social Responsibility & Governance
Social Responsibility & Governance Social Responsibility Governance ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Slide 24: Energy & Emissions
ENVIRONMENTAL GOALS & PROGRESS Energy & Emissions Energy Goals Status Progress Emission Goals Status Progress
Slide 25: Waste & Water
ENVIRONMENTAL GOALS & PROGRESS Waste & Water Waste & Recycling Goals Status Progress Water Conservation Goals Status Progress 22% 35% 318,388 581,193 641,312
Slide 26: Indoor Environmental Quality & ESG Certification
ENVIRONMENTAL GOALS & PROGRESS Indoor Environmental Quality & ESG Certification IEQ Goals Status Progress ESG Certification Goals Status Progress
Slide 27: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Three Months Ended Year Ended Reconciliation of Net Income to NOI and December 31, September 30, June 30, March 31, December 31, December 31, Cash NOI 2021 2021 2021 2021 2020 2021 Net income (loss) $ (4,074) $ (10,183) $ 4,411 $ (3,191) $ 710 $ (13,037) Add: Gene
Slide 28: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Three Months Ended Twelve Months to December 31, September Date 2021 30, 2021 June 30, 2021 March 31, 2021 Rental revenue $ 499,536 $ 124,107 $ 124,107 $ 125,091 $ 126,231 Tenant expense reimbursement 57,912 14,103 14,103 15,706 14,000 Deduct: Straight-line rental
Slide 29: Disclaimer
Disclaimer 29 This presentation includes “forward looking statements” within the meaning of the federal securities laws. Forward-looking statements may be identified by the use of words such as “believes,” “expects,” “may,” “wil,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,”
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