Paramount to Hold Virtual Annual Meeting of Stockholders

Paramount Group, Inc. PGRE ("Paramount" or the "Company") announced today that due to the ongoing public health impact of the coronavirus (COVID-19) pandemic and to support the health and well-being of its stockholders, the Annual Meeting of Stockholders to be held on Tuesday, May 19, 2020 (the "Annual Meeting"), will be held at 9:00 a.m. (Eastern Time) in a virtual meeting format only. Stockholders will not be able to attend the Annual Meeting in person.

As described in the previously distributed Proxy Statement and notice, stockholders are entitled to participate in the Annual Meeting if they were a stockholder of the Company as of the close of business on March 23, 2020, the record date, or hold a legal proxy for the meeting provided by its bank, broker or nominee. Stockholders who wish to attend the Annual Meeting should log in no later than 15 minutes prior to the scheduled start of 9:00 a.m. (Eastern Time) on Tuesday, May 19, 2020 at www.virtualshareholdermeeting.com/PGRE2020 to register. Stockholders may also access the meeting website through our own website at www.paramount-group.com. Stockholders must enter the 16-digit control number found on their proxy card, voting instruction form or notice previously received. Stockholders may vote during the Annual Meeting by following the instructions available on the meeting website during the meeting. Whether or not stockholders plan to attend the Annual Meeting, we urge stockholders to vote and submit their proxy in advance of the Annual Meeting by one of the methods described in the Proxy Statement and notice for the Annual Meeting. The proxy card included with the proxy materials previously distributed will not be updated to reflect the change in time or location and may continue to be used to vote Paramount shares in connection with the Annual Meeting.

About Paramount Group, Inc.

Headquartered in New York City, Paramount 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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