August 2020 New Valley LLC, the real estate subsidiary of Vector Group Ltd. (NYSE: VGR), owns real estate and owns 100% of Douglas Elliman, the largest residential brokerage firm in the New York metropolitan area, as well as a minority stake1 in numerous real estate projects. 1 NEW VALLEY REAL ESTATE INVESTMENTS1 New Valley’s New York Real Estate Investments 1. 10 Madison Square West Flatiron District/NoMad (in liquidation) 2 New Valley has invested approximately $179 million , as of June 30, 2020, in a broad portfolio of 2. 11 Beach Street TriBeCa real estate projects. 3. 20 Times Square Times Square (in liquidation) 4. 111 Murray Street TriBeCa 5. 160 Leroy Street Greenwich Village (in liquidation) New Valley’s Real Estate Investment Portfolio1 6. 215 Chrystie Street Lower East Side 7. The Dutch Long Island City 8. 1 QPS Tower Long Island City (in liquidation) Land Development/Real Apartments/ Condo- Commercial Retail/ 9. Park Lane Hotel Central Park South Estate Held for Sale, net miniums/Hotels O ice Assets 10. 125 Greenwich Street Financial District 9 17 11. The XI (formerly “The Eleventh”) West Chelsea West Hollywood Edition Sagaponack The Plaza at Harmon 8 12. 15 East 19th Street (formerly “New Brookland”) Brooklyn (West Hollywood) (East Hampton) Meadow (New Jersey) 7 13. The Dime (Havemeyer Street) Brooklyn 3 14. 352 6th Avenue Brooklyn 500 Broadway Maryland Portfolio 15. 9 DeKalb Brooklyn (Santa Monica) (Baltimore County) 16. Meatpacking Plaza Meatpacking District 17. Parker New York Central Park South NY City 1 Investments 11 1 16 International Investments Coral Beach Wynn Las Vegas 5 13 and Tennis Club Retail (Nevada) Takanasee 6 Bermuda (New Jersey) 4 2 Fontainebleau West Hialeah (Las Vegas) (Miami) 10 Escena 87 Park 500 Alton Road Monad Terrace EXECUTIVE MANAGEMENT 12 (Palm Springs) (Miami Beach) (Miami Beach) (Miami Beach) 15 14 Howard M. Lorber President and Chief Executive O icer DOUGLAS ELLIMAN Richard J. Lampen Executive Vice President • Largest residential real estate brokerage firm in New York metropolitan area and fourth-largest in the United States. J. Bryant Kirkland III Senior Vice President, Chief Financial O icer and Treasurer • Closings of $25.3 billion for the last 12 months ended June 30, 2020; Douglas Elliman has more than 7,000 a iliated agents and approximately 95 o ices throughout the New York metropolitan Marc N. Bell Senior Vice President, Secretary and General Counsel area, South Florida, Southern California, and Massachusetts. J. David Ballard • Maintains an alliance with Knight Frank— the largest independent residential brokerage Senior Vice President, Enterprise E iciency and CTO in the United Kingdom— to jointly market high-end properties, providing a network with approximately 500 o ices across 60 countries with approximately 19,000 a iliated agents. COMPANY HIGHLIGHTS • Revenues and Adjusted EBITDA (loss) at Douglas Elliman of $678 million and ($11.1 million),3 • Executive o ices in Manhattan and Miami respectively, for the last 12 months ended June 30, 2020. Douglas Elliman Closings New Valley Revenues - LTM 6/30/20 New Valley Adjusted EBITDA3 Real Estate Brokerage Commissions $7M $28.8B $28.1B Property Management $35M $27.9M Other $26.1B $25.3B $24.5B $22.4B $10.3M $6.1M $681M $18.2B 2017 2018 2019 ($11.1M) 2014 2015 2016 2017 2018 2019 LTM $639M LTM 6/30/20 6/30/20 1 Please refer to Vector Group Ltd.’s Form 10-Q for the period ended June 30, 2020 in the section “Summary of Real Estate Investments” section of Item 2 - Management’s Discussion and Analysis of Financial Condition and Results of Operations. 2 Net of cash returned. 3 New Valley’s net income (loss) was $37.6M, $14.8M, $(11.4)M and $(84.5)M for the periods presented. Adjusted EBITDA is a non-GAAP fi nancial measure. For a reconciliation of Net income to Adjusted EBITDA, please see Vector Group Ltd.’s Current Reports on Form 8-K, fi led on May 3, 2019, and February 28, 2020 and dated August 5, 2020 and Form 10-K for the fi scal year ended December 31, 2019 and Form 10-Q for the quarterly period ended June 30, 2020 as well as the Disclaimer to this document on Page 2. New Valley’s Adjusted EBITDA do not include an allocation of Vector Group Ltd.’s Corporate and Other Expenses (for purposes of computing Adjusted EBITDA) of $13.0M. $15.0M, $17.1M and $15.6M for the periods presented, respectively. Contact: Emily Claff ey / Ben Spicehandler / Columbia Clancy of Sard Verbinnen & Co (212) 687-8080 newvalley.com