On January 31, 2023, Kushner Companies sent a letter to fellow shareholders of Veris Residential. In the letter, Kushner Companies stated that it has made repeated efforts to advance a value-maximizing transaction for the Company shareholders and have been frustrated by the Company Board's lack of constructive engagement or transparency. Kushner Companies stated that the Company Board has consistently demonstrated a reluctance to explain what they believe is the Company's fair value and why that value is justified.

Instead, they have insisted on Kushner Companies execution of a broad and one-sided standstill as a precondition to any meaningful price discovery. Kushner Companies added that despite the Board's ongoing intransigence, Kushner Companies objective has not changed?it is prepared to execute a transaction at a price that fairly values the Company shares. Kushner Companies added that its fully financed all-cash offer for $18.50 remains outstanding, as does, for now, Kushner Companies willingness to constructively engage with the Board to see if it can go higher.

Kushner Companies stated that, however, is not endless, and it is actively considering all other alternatives. Kushner Companies stated that it remains hopeful that the Board can be persuaded to engage transparently with Kushner Companies in the interests of all shareholders.