PGRE - Paramount Declares Quarterly Cash Dividend

Paramount Group, Inc. (NYSE: PGRE) (“Paramount”) announced today that its board of directors has declared a reduced quarterly cash dividend of $0.035 per share of common stock (a new indicated annual rate of $0.14 per share), for the period from April 1, 2023 to June 30, 2023. The dividend will be payable on July 14, 2023, to stockholders of record as of the close of business on June 30, 2023. The reduced dividend will enable Paramount to retain an additional $40 million of cash annually, further enhancing Paramount’s already strong financial position.

About Paramount Group, Inc.

Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.

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Wilbur Paes
Chief Operating Officer,
Chief Financial Officer and Treasurer
212-237-3122
ir@pgre.com

Tom Hennessy
Vice President, Investor Relations and
Business Development
212-237-3138
ir@pgre.com

Media:
212-492-2285
pr@pgre.com