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September 10, 2025 BANK OF AMERICA SECURITIES GLOBAL REAL ESTATE CONFERENCE
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference DISCLAIMER This presentation includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this presentation that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including such matters as future capital expenditures, dividends and acquisitions (including the amount and nature thereof), development trends of the real estate industry and the New York metropolitan area markets, occupancy, business strategies, expansion and growth of our operations and other similar matters, are forward-looking statements. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “project,” “continue,” or the negative of these words, or other similar words or terms. Forward-looking statements contained in this presentation are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include risks and uncertainties described in our filings with the Securities and Exchange Commission (the “SEC”). Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise. The non-GAAP financial measures contained in this presentation are not measures of financial performance calculated in accordance with U.S. generally accepted accounting principles (“GAAP”) and should not be considered as replacements or alternatives to any other performance measure derived in accordance with GAAP or as alternative measures of liquidity. Management believes that there are several non-GAAP financial measures which represent measures similar to those used in evaluating compliance with certain of our debt financial covenants, and which will allow readers to easily make comparisons between current and prior year period results. Select non-GAAP financial measures are also used as a metric to determine certain components of performance based compensation. These non- GAAP financial measures are based on currently available information as well as certain adjustments that we believe are reasonable and are presented as an aid in understanding our operating results. - 2 -
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference SL GREEN OVERVIEW YEARS LISTED ON NYSE (NYSE: SLG) 28 ENTERPRISE VALUE1 $14.7B CURRENT PORTFOLIO2 (Millions of SF) 30.7 TOTAL TENANTS2 (COMMERCIAL) 969 2025 COMBINED REVENUES3 $1.7B 2025 FUNDS FROM OPERATIONS4 (Per Share) $5.80 LIQUIDITY2,5 $1.2B TRS SINCE IPO1 809% TOTAL EMPLOYEES6 1,285 1. Data as of 9/9/25 2. Data as of 6/30/25 3. Projected full year 2025 4. Midpoint of management’s current FFO guidance range of $5.65 to $5.95. Reflects weighted average diluted share count of 76.2M 5. Includes consolidated cash, SLG share of unconsolidated JV cash, marketable securities and undrawn capacity on the revolving line of credit 6. Full and Part Time employees within SLG, SUMMIT, Union, Emerge, Joji, and Reckson - 3 -
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference 1. As of Q4 2024 2. Includes Green Loan Services and CMBS bonds held by Belmont Insurance Company. # of ASSETS RSF CURRENT PROPERTIES1 38 25.9 DEBT INVESTMENTS1 16 9.6 CURRENT PORTFOLIO 54 35.5 SOLD PROPERTIES 87 26.1 PRIOR DEBT INVESTMENTS2 102 64.6 TOTAL FOOTPRINT 243 126.2 SLG’s historical investment footprint comprises over 126 million square feet across New York City. SL GREEN’S UNPARALLELED INVESTMENT PORTFOLIO - 4 -
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference SLG 2025 MANHATTAN OFFICE LEASING - 5 - MANHATTAN OFFICE PIPELINE AS OF 9/9/25 # OF LEASES SF LEASES OUT FOR SIGNATURE New 2 69,477 Renewal 3 24,344 5 93,821 LEASES IN NEGOTIATION New 17 415,036 Renewal 11 264,488 28 679,524 TERM SHEETS IN NEGOTIATION New 12 229,930 Renewal 11 153,885 TOTAL 23 383,815 TOTAL PIPELINE 56 1,157,160 MANHATTAN OFFICE LEASES SIGNED YTD PROPERTY SF 1. Newmark & Company Real Estate 125 Park Ave. 144,418 2. IBM One Madison Ave. 92,663 3. Pinterest, Inc. 11 Madison Ave. 82,812 4. Atlantic Production Center 100 Church St. 66,012 5. Sigma Computing, Inc One Madison Ave. 64,077 +121 Other Leasing Transactions 1,076,387 TOTAL 1,526,369
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference SLG HISTORICAL OFFICE LEASING 1 2.1M SF 2.3M SF 3.2M SF 1.5M SF 2.3M SF 2.5M SF 1.2M SF 1.9M SF 2.1M SF 1.8M SF 3.6M SF 1.5M SF 227 189 169 191 180 163 125 159 141 160 188 126 0 50 100 150 200 250 300 350 400 450 500 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 YTD LEASED SF # OF LEASES 1. SLG Leasing Data as of 9/9/2025 10-Year Average: 2.2M SF - 6 -
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference SLG’S CORE MARKETS CONTINUE TO IMPROVE 1 - 7 - 1. CBRE 2. Data through 9/1/2025 3. Better Buildings category is CBRE’s proxy for “Class A” $76.83 $82.28 $110.83 $107.58 $77.73 $83.61 $112.44 $109.43 14.1% 12.1% 8.6% 6.0% 13.7% 11.5% 8.1% 5.8% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% $- $20 $40 $60 $80 $100 $120 Total Manhattan Market Total Midtown Market Better Buildings Midtown Market Park Avenue Market $ PSF Q2 Asking Rent (PSF) Q3 Asking Rent (PSF) Q2 Vacancy Q3 Vacancy 2 3 2
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference PROPERTY TYPE OFFICE RSF GROSS SF EXPECTED RESIDENTIAL RSF TOTAL POTENTIAL UNITS2 700 Lexington Avenue Rental 440,699 397,354 317,883 448 355 Lexington Avenue Rental 270,000 225,000 180,000 254 845 Third Avenue Rental 365,000 321,452 257,162 362 830 Third Avenue Rental 147,159 150,638 120,510 170 750 Third Avenue3 Rental 845,256 798,055 477,000 678 219-235 East 42nd Street Rental 1,087,206 972,462 1,018,248 1,566 300 East 42nd Street Rental 240,137 214,102 146,624 146 330 West 42nd Street Rental 574,000 552,775 446,025 224 1740 Broadway Rental 572,789 530,354 382,083 422 1619 Broadway Rental 169,232 158,150 126,520 178 44 Additional Projects 17,558,538 16,041,912 12,814,590 16,954 SUBTOTAL 22,270,016 20,362,254 16,286,645 21,402 RENTAL CONVERSIONS CONDO PROJECTS 1. Newmark, JLL, Real Deal, Commercial Observer as of 9/9/2025 2. Planned units per ownership, if applicable. Estimated units derived utilizing 80% efficiency factor across property gross SF, with an average unit size of 710 RSF 3. SLG project MANHATTAN OFFICE - TO - RESI CONVERSION PROJECTS 1 PROPERTY TYPE OFFICE RSF GROSS SF EXPECTED RESIDENTIAL RSF TOTAL POTENTIAL UNITS1 609 Fifth Avenue Condo 137,896 226,000 128,288 76 101 Franklin Street Condo 205,000 202,000 161,600 115 175 Fifth Avenue Condo 204,593 183,449 146,759 60 4 Additional Projects 685,829 585,181 458,224 441 SUBTOTAL 1,233,318 1,196,630 894,871 692 GRAND TOTAL 23,503,334 21,558,884 17,181,516 22,094 - 8 -
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference PROPERTY BUYER TYPE SF PRICE PRICE / SF YEAR 350 Park Ave3 Citadel Office - $1.4B N/A Pending 109 Prince Street Polo Ralph Lauren Retail 11,508 $132M $11,470 2025 270 Park Ave4 JP Morgan Office 2,500,000 $5.5B $2,200 2025 717 Fifth Ave Kering/Gucci Mixed-Use 114,999 $963M $8,374 2024 720-724 Fifth Ave Prada Mixed-Use 188,658 $835M $4,426 2023 570 Fifth Avenue Ikea Mixed-Use 139,658 $700M $5,000 2024 980 Madison Ave Bloomberg Philanthropies Mixed-Use 400,000 $580M $4,153 2024 20 Hudson Yards Wells Fargo Office 17,295 $550M $1,375 2023 666 Fifth Ave Uniqlo Retail 540,541 $350M $20,237 2024 250 Park Avenue JP Morgan Office 140,000 $320M $592 2024 15 Laight St Hyundai Office 122,222 $275M $2,250 2023 377 East 33rd Street NYU Education 212,982 $210M $986 2023 747 Madison Ave Dyson Retail 11,250 $135M $12,000 2023 945 Madison Ave Sotheby’s Office 50,505 $100M $1,980 2023 147-149 Madison Ave Enchante Accessories Office 121,069 $77M $636 2023 636 Sixth Avenue Hotel Association of NYC Office 88,050 $70M $795 2024 155 Mercer St Dyson Retail 13,636 $60M $4,400 2023 772 Madison Ave AKRIS Retail 5,857 $41M $7,000 2023 25 East 22nd Street Kodansha Office 17,003 $27M $1,588 2024 130 Greene Street Caudaile Retail 3,659 $10M $2,733 2024 TOTAL 4,698,892 $12.3B $2,625 1. RCA, Commercial Observer, Newmark as of September 2025 2. None of the below project are SLG projects 3. Vornado Realty Trust 4. Estimated all-in basis for land and construction costs. Year reflects anticipated completion date USER - BUYERS TAKE INVENTORY OFFLINE 1,2 - 9 -
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference- 10 - • SLG entered a contract to acquire 346 Madison Avenue and the adjacent property at 11 East 44th Street for $160.0M, with plans to pursue a world-class, ground-up office development in the heart of Midtown East. • The site is located just one block from One Vanderbilt Avenue and Grand Central Terminal, a major transit hub served by the MTA Subway System, Metro-North Railroad, and Long Island Railroad. • Together, the properties can accommodate approximately 800K rentable square feet under the East Midtown rezoning. • The project will emphasize forward-thinking amenities, column-free floor plates, and state-of-the-art workplace infrastructure, creating an all-electric, best- in-class development. 346 MADISON AVENUE PREMIER MIDTOWN OFFICE DEVELOPMENT SITE 50th STREET 49th STREET 48th STREET 47th STREET 46th STREET 45th STREET 44th STREET 43rd STREET 42nd STREET 40th STREET 5th AVENUE MADISON AVENUE PARK AVENUE LEXINGTON AVENUE SL GREEN PROPERTIES
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750 THIRD AVENUE - 11 -
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference 750 THIRD AVENUE - 12 - • SLG intends to convert 750 Third Avenue, between 46th and 47th Streets, a fully-vacant office building1, into residential rental units under the new 467-M program. • The 467-M program: • Requires delivery of 25% of the units as permanently affordable • Provides 90% real estate tax abatement for 35 years • Provides 100% tax abatement capped at three years of construction • This conversion project will be one of the largest in Manhattan with approximately 678 residential units and will set the standard for trophy residential conversions. • The ultimate live, work, play community inclusive of over 75k SF of world-class amenities, hospitality, fitness, and coworking space throughout the building. • Drives the transformation of Third Avenue into vibrant destination 1. Vacant possession by January 2026 PROJECT HIGHLIGHTS
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference LOCATION OVERVIEW - 13 - • Close to multiple subway lines (4, 5, 6, 7, S, E, and M) for quick access to both downtown and uptown, as well as buses and taxis. • Blocks from Grand Central Terminal with access to Metro North and Long Island Rail Road. • Presence of major companies and industries, including finance, media, advertising, and tech, means residents would be within a short commute of their offices. CONVENIENT TRANSPORTATION
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference PROGRAM OVERVIEW - 14 - RESIDENT-ONLY AMENITY RESIDENTIAL PRIVATE MEMBERS CLUB NEIGHBORHOOD RETAIL GROCER TENANT RESIDENT-ONLY TERRACE FEATURING HALF AN ACRE OF OUTDOOR SPACE
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference 750 THIRD AVENUE The Winter Garden Interior Residential Entry Ground Floor Lobby Resident-Only Terrace Design RENDERINGS - 15 -
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference FINANCIAL SUMMARY $ 000’s Unlevered Project Cost $715,000 Net Operating Income $49,000 - $50,000 Unlevered Yield on Cost (Stabilized) 6.9% - 7.0% Levered Project Cost $800,000 Residual Cap Rate 4.5% - 5.0% Implied Valuation Range $980,000 - $1,100,000 Value Creation $180,000 - $300,000 - 16 -
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference SUMMIT PARIS STATUS UPDATE • SUMMIT to occupy 32k SF across five levels • AIR Experience designed by Kenzo Digital L36- L38 • Food & Beverage offerings on L35 & L36 • Grade entry/exit with retail shop • 100% of SUMMIT AIR experience design complete • Building currently built up to 34th floor • Expected start of SUMMIT construction: Spring 2026 • Expected SUMMIT opening: Spring 2027 - 18 -
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference TOUR TRIANGLE EXTERIOR RENDERING - 19 -
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference TOUR TRIANGLE CONSTRUCTION PROGRESS - 20 -
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference CAC = Community Advisory Committee Has Occurred Per the NYS Gaming Facility Location Board CASINO LICENSE TIMELINE 2023 RFA issued JAN 3 Response to 1st round of RFA questions AUG 30 Response to 2nd round of RFA questions DEC 18 OCT 6 2nd round of questions submission MAY 14 City-wide text change approved to allow gaming as a use subject to NY State granting license (Board announces Stage 2 remaining applicants Supplemental RFA submission due (i.e. best and final) OCT DEC 1 Board selection of applicants to receive license DEC 31 Gaming Commission Licensure SEPT 30 CAC approval local siting stage (Stage 1 approval)) 2024 2025 Submission of Stage 1 proposal with $1M non- refundable application fee JUNE 27 FEB 3 1st round of questions submission Revised guidance issued by Gaming Commission JUNE 27 JULY 23 Initial CAC organizational hearing First CAC public hearing AUG 13 Second CAC public hearing SEPT 11 NOTE: Timeline is an estimate based on management’s best judgement at the moment. This timeline may get pushed out. Confidential Proprietary Information – Exempt from FOIL Pursuant to Public Officers Law 87 SUBMITTED STAGE 1 PROPOSAL - 22 -
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SL GREEN REALTY CORP. BANK OF AMERICA 2025 Global Real Estate Conference TIMES SQUARE CASINO - 23 - FINAL BIDDERS