SL Green Realty Corp. Announces $500 Million Increase to Share Repurchase Program

Total Authorization of $2.5 billion

SL Green Realty Corp. (NYSE: SLG), New York City’s largest office
landlord, today announced that the Company’s Board of Directors has
authorized an increase to the size of its share repurchase program by an
additional $500 million of the Company’s common stock, bringing the
program to a total of $2.5 billion.

To date, the Company has repurchased 18,087,322 shares under the
program. In addition, the Company has redeemed 445,517 units of the
Company’s Operating Partnership in connection with real estate

“The expansion of our stock repurchase program is in response to the
significant discrepancy that persists between our share price and the
underlying value of our assets,” said Marc Holliday, Chief Executive
Officer of SL Green
. “We are pleased with the results of this
program to date, as we’ve been able to monetize assets that were ripe
for harvesting and reinvest those proceeds in a way that is accretive to
earnings and net asset value, as well as being sensitive to our
investment grade balance sheet. We believe this is a program that
creates tremendous value for our investors.”

About SL Green Realty Corp.

SL Green Realty Corp., an S&P 500 company and New York City’s largest
office landlord, is a fully integrated real estate investment trust, or
REIT, that is focused primarily on acquiring, managing and maximizing
value of Manhattan commercial properties. As of September 30, 2018, SL
Green held interests in 106 Manhattan buildings totaling 46.4 million
square feet. This included ownership interests in 28.2 million square
feet of Manhattan buildings and 18.2 million square feet of buildings
securing debt and preferred equity investments. In addition, SL Green
held ownership interests in 15 suburban buildings totaling 2.3 million
square feet in Brooklyn, Westchester County, and Connecticut.

Forward-looking Statement

This press release 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 press release that
address activities, events or developments that we expect, believe or
anticipate will or may occur in the future, are forward-looking
statements. Forward-looking statements are not guarantees of future
performance 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 press release 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 are
described in our filings with the Securities and Exchange Commission. We
undertake no obligation to publicly update or revise any forward-looking
statements, whether as a result of future events, new information or


Source: SL Green Realty Corp.

Matt DiLiberto
Chief Financial Officer
Green Realty Corp.
(212) 594-2700