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VORNADO REALTY TRUST NEW YORK CITY | CHICAGO | SAN FRANCISCO OFFICE | RETAIL | DEVELOPMENT EXHIBIT 99.1 PRESSRELEASE Vornado Announces Third Quarter 2021 Financial Results New York City | November 1 , 2021 Vornado Realty Trust ( NYSE : VNO ) reported today : Quarter Ended September 30 , 2021 Financial Results NET INCOME attributable to common shareholders for the quarter ended September 30 , 2021 was $ 37,689,000 , or $ 0.20 per diluted share , compared to $ 53,170,000 , or $ 0.28 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 September 30 , 2021 was $ 25,926,000 , or $ 0.14 per diluted share , and net loss attributable to common shareholders , as adjusted ( non - GAAP ) for the quarter ended September 30 , 2020 was $ 9,386,000 , or $ 0.05 per diluted share . FUNDS FROM OPERATIONS ( " FFO " ) attributable to common shareholders plus assumed conversions ( non - GAAP ) for the quarter ended September 30 , 2021 was $ 158,286,000 , or $ 0.82 per diluted share , compared to $ 278,507,000 , or $ 1.46 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 September 30 , 2021 and 2020 was $ 136,213,000 and $ 116,698,000 , or $ 0.71 and $ 0.61 per diluted share , respectively . Nine Months Ended September 30 , 2021 Financial Results NET INCOME attributable to common shareholders for the nine months ended September 30 , 2021 was $ 89,817,000 , or $ 0.47 per diluted share , compared to net loss attributable to common shareholders of $ 139,617,000 , or $ 0.73 per diluted share , for the nine months ended September 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 nine months ended September 30 , 2021 and 2020 was $ 65,176,000 and $ 18,198,000 , or $ 0.34 and $ 0.10 per diluted share , respectively . FFO attributable to common shareholders plus assumed conversions ( non - GAAP ) for the nine months ended September 30 , 2021 was $ 430,057,000 , or $ 2.24 per diluted share , compared to $ 612,123,000 , or $ 3.20 per diluted share , for the nine months ended September 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 nine months ended September 30 , 2021 and 2020 was $ 393,733,000 and $ 370,918,000 , or $ 2.05 and $ 1.94 per diluted share , respectively . NYSE : VNO | WWW.VNO.COM PAGE 1 OF 19