Veris Residential, Inc. Announces Public Offering of Common Stock

JERSEY CITY, New Jersey

,

June 17, 2024

/PRNewswire/ — Veris Residential, Inc. (NYSE: VRE) (the “Company”) today announced that it has commenced an underwritten public offering of 10,500,000 shares of its common stock.

JP Morgan, Goldman Sachs & Co. LLC and BofA Securities are acting as joint book-running managers for the offering.

The underwriters are expected to be granted a 30-day option, exercisable in whole or in part from time to time, to purchase up to 1,575,000 additional shares of common stock of the Company.

The Company intends to use the net proceeds from the offering to finance its pending acquisition of 55 Riverwalk Place, a 348-unit residential asset with 48,000 square feet of retail space located on the waterfront from Port Imperial to

Western New York, New Jersey

. If the Company is unable to complete this acquisition, it may use the proceeds for general corporate purposes and its working capital, in particular by contributing to the repayment of approximately

$157 million

of the outstanding mortgage debt secured by its Soho Lofts property to

Jersey City, New Jersey

a multi-family residential property with 377 units.

All shares of Common Stock will be offered pursuant to the Company’s then current shelf registration statement filed with the Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC. A copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained from JP Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,

Edgewood, New York

11717 or by email to [email protected] and [email protected]; Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street,

New York, New York

10282, telephone: 1-866-471-2526, fax: 212-902-9316 or email [email protected]; BofA Securities, Attn: Prospectus Department, NC1-022-02-25, 201 North Tryon Street,

Charlotte, North Carolina

28255-0001 or by email to [email protected]; or by visiting the EDGAR database on the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification. under the securities laws of any such state or jurisdiction.

Forward-looking statements

This press release contains forward-looking statements within the meaning of the federal securities laws. The Company intends that these forward-looking statements are covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. . These forward-looking statements relate, without limitation, to the future economic performance of the Company, plans and objectives for future operations and projections of revenue and other financial matters. Forward-looking statements can be identified by the use of words such as “may”, “will”, “plan”, “potential”, “projected”, “should”, “expect”, “anticipate”, “estimate ”, “target”, “continue” or comparable terminology. Forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which cannot be accurately predicted and some of which may not even be anticipated. Although the Company believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions at the time they were made, the Company can give no assurance that such expectations will be achieved. Future events and actual results, financial or otherwise, may differ materially from what is expressed or anticipated in this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. Factors that could materially affect the Company’s results include the risk factors contained in the Company’s Annual Report on Form 10-K for the completed fiscal year.

December 31, 2023

, the Company’s preliminary prospectus supplement relating to the offering in the sections entitled “Forward-Looking Statements” and “Risk Factors”, as well as other public documents filed by the Company. Copies of each filing may be obtained from the Company or the SEC. The Company undertakes no obligation to update and supplement any forward-looking statements that become untrue as a result of subsequent events, new information or otherwise.

About Veris Residential, Inc.

Veris Residential, Inc. is a forward-thinking, environmentally and socially conscious real estate investment trust (REIT) that primarily owns, operates, acquires and develops holistically inspired Class A multifamily properties that meet the sustainability-minded lifestyle needs of today’s residents while seeking to make a positive impact on the communities it serves and the planet as a whole. Of the

March 31, 2024

the Company owned or had interests in 22 multi-family rental properties, as well as non-core assets including four parking/retail properties, as well as developable land.

Investor contact

Amandine Lombard


Financial director

732-590-1010

[email protected]

Anna Malhari

CEO

732-590-1010

[email protected]

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SOURCE Veris Residential, Inc.