EFTA Document EFTA01388611

IR October 2016 REITs US REIT 3016 Earnings Preview [Figure 72: CLI 3O16 results preview CU Esekepo FFQ'sh Pro-form FFI33W OPennine Moak* Total leasing volume Onsamics conscadated executed, Total occupancy (0-end. SF leased) Na Ch Citlece rent spread (Cash( $5 NOI WOWIti WV !cask $5 NOI growth WV (GA4P1 Now consensus data rs based on Thomson compiled data as of I Of 14/16 3015 ASS SO SI 10 48 Masi 956 858% 2010 Meal SO 64 SO 55 ASS 660 867% -50bp 17 2% 2 8% 65% 6 5% 21% 8 3% 8010 Meal Die SO 66 $018 Cone $0 55 DIe Actual 872% 50to 3% total 2010 Av 30 Gale Poo 30 Gab Die Cons S221 S2 07 -S2 I 3 5212 52.11 Pre 30 Oa Peet 110 Outdo Doe 89 0% - 910% 880% 3% total 5 0%-6 0% 9 5%- 105% • Update on disposition plans. Management noted -$150MM is expected to be sold through 2016 • We expect management to provide initial 2017 guidance during the 3O call • Thoughts on the NJ waterfront, and traction from the front office Update on the development pipeline where the focus remains on multi-family projects Recent leasing velocity in Parsippany, Metropark, and Jersey City • CLI will provide initial guidance for the following fiscal year in 3Q For FFO, we are at $2.21 and consensus is at $2.22 Sane bunch/B..4 co—pir es. Manua. Fig tiro 73: NBC 3O16 result:: nitwit: qlc Eonents FFOrsh Pio-forma FFOish ex.rtems CIt: Make Total leasing volume IcOrnmenced. Total leasing volume lexecutedi Statdged Occupancy at 0 -end 4'0 Ch 10V ch Rent SC.080 commenced cash 2nd generatMO Rent speed 'executed cash 2nd geroravonl 55 NOI giobrth ytv 1453111 55 NOI grOwlh Wv 164.4P1 Note consensus estimates are based on Thomson come ed data as of I 0/14 16 • Update on KRC's disposition plans. We note that a JV sale to Norges Bank closed in August, with another sale expected to close in 4Q • Update on leasing up the Exchange, with the focus shifting to multi-tenant leases although an agreement with one tenant for the entire space remains possible • Update on 100 Hooper, where management was negotiating LOIs per the 2Q call. Construction could commence by YE2016 if pre-leasing reaches 50% • Update on demand in the West Coast from technology tenants • Update on SF sublease space availability and demand for block space (>100ksf) • Update on 515ksf of leases under LOI, split evenly between stabilized and developments properties • Trends in SoCal where job growth has been slowing 3015 2015 3016 Meal Mal Amyl Die Cane SO 77 S086 SO 87 SO 87 $077 SO87 SO 87 Areal Auttel Meal Die 396 273 394 266 966% 96 6% 953% - I ;OOP 60t0 '2500 150bP -120bp '35bp 269% 7 3% 150% 392% 190% -25% 12 4% 6% 32% 2016 esteem& 5336' 53 4) Per 30 Dade Die S3 40 13 40 Gene S3 40 Pre 30 Guide Pow 30 0420 Die h,gh end *194 6-95% 960% 20bP 150% 150% .9 0% to 11 0% Sato* Dan** ALM cowpony dap. Thomson Page 40 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0092260 CONFIDENTIAL SDNY_GM_00238444 EFTA01388611