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VORNADO REALTY TRUST NEW YORK CITY | CHICAGO | SAN FRANCISCO OFFICE | RETAIL | DEVELOPMENT PRESSRELEASE EXHIBIT 99.1 Vornado Announces Second Quarter 2021 Financial Results New York City | August 2 , 2021 Vornado Realty Trust ( NYSE : VNO ) reported today : Quarter Ended June 30 , 2021 Financial Results NET INCOME attributable to common shareholders for the quarter ended June 30 , 2021 was $ 48,045,000 , or $ 0.25 per diluted share , compared to net loss attributable to common shareholders of $ 197,750,000 , or $ 1.03 per diluted share , for the prior year's quarter . Adjusting for the items that impact period - to - period comparability listed in the table on the following page , net income attributable to common shareholders , as adjusted ( non - GAAP ) for the quarter ended June 30 , 2021 was $ 26,804,000 , or $ 0.14 per diluted share , and net loss attributable to common shareholders , as adjusted ( non - GAAP ) for the quarter ended June 30 , 2020 was $ 4,363,000 , or $ 0.02 per diluted share . FUNDS FROM OPERATIONS ( " FFO " ) attributable to common shareholders plus assumed conversions ( non - GAAP ) for the quarter ended June 30 , 2021 was $ 153,364,000 , or $ 0.80 per diluted share , compared to $ 203,256,000 , or $ 1.06 per diluted share , for the prior year's quarter . Adjusting for the items that impact period - to - period comparability listed in the table on page 3 , FFO attributable to common shareholders plus assumed conversions , as adjusted ( non - GAAP ) for the quarters ended June 30 , 2021 and 2020 was $ 133,161,000 and $ 107,391,000 , or $ 0.69 and $ 0.56 per diluted share , respectively . Six Months Ended June 30 , 2021 Financial Results NET INCOME attributable to common shareholders for the six months ended June 30 , 2021 was $ 52,128,000 , or $ 0.27 per diluted share , compared to net loss attributable to common shareholders of $ 192,787,000 , or $ 1.01 per diluted share , for the six months ended June 30 , 2020. Adjusting for the items that impact period - to - period comparability listed in the table on the following page , net income attributable to common shareholders , as adjusted ( non - GAAP ) for the six months ended June 30 , 2021 and 2020 was $ 39,250,000 and $ 27,584,000 , or $ 0.20 and $ 0.14 per diluted share , respectively . FFO attributable to common shareholders plus assumed conversions ( non - GAAP ) for the six months ended June 30 , 2021 was $ 271,771,000 , or $ 1.41 per diluted share , compared to $ 333,616,000 , or $ 1.75 per diluted share , for the six months ended June 30 , 2020. Adjusting for the items that impact period - to - period comparability listed in the table on page 3 , FFO attributable to common shareholders plus assumed conversions , as adjusted ( non - GAAP ) for the six months ended June 30 , 2021 and 2020 was $ 257,520,000 and $ 254,220,000 , or $ 1.34 and $ 1.33 per diluted share , respectively . NYSE : VNO | WWW.VNO.COM PAGE 1 OF 19