MENU PLACES PEOPLE PARTNERS PEPERRFOFORRMMAANNCCEE PERFORMANCE ((ENENVVIIRROONNMENMENTT)) (ECONOMIC) Performance (Environment) Policies 2022 Progress Profile of Environmental Impacts Climate Change Energy Resource and Circularity Water Biodiversity Occupant Wellbeing Building/Asset Investments Heat map showing the estimated annual impact of climate-related risks and opportunities under different climate scenarios in 2030 Risks Opportunities Risk / Opportunity Driver 1.5°C 2°C 3°C 1.5°C 2°C 3°C Scenario Scenario Scenario Scenario Scenario Scenario Tightened building energy codes and guidelines Introduction of carbon pricing in operating markets More stringent public disclosure requirements Increased market demand for climate resilient properties Increased market demand for green and energy efficient properties Increased tenant demand for energy efficiency and data transparency Growing investor demand for green and low- carbon finance and investment Potential increase in insurance premiums Increased exposure to reputation and litigation risks Greater adoption of low-carbon construction materials Utility supply and cost Increased adoption of green and low-carbon technology Increased adoption of renewable energy Risk level Lower risk Moderate risk Higher risk Lower opportunity Moderate opportunity Higher opportunity Not applicable Based on the analysis, our current business and sustainability strategies will allow us to effectively manage the identified transition risks and capture the identified opportunities during the transition to a low-carbon economy. These strategies include: • 1.5°C-aligned science-based targets to drive long-term carbon reduction • Investment in, and development of, certified green buildings with best-in-class energy efficiency and climate resilience • Investment in renewable energy measures throughout our portfolio • Wide application of innovative green technologies • Commitment to green financing • Engaging our supply chain, tenants and other relevant stakeholders in climate resilience and sustainability initiatives We also conducted a quantitative assessment of the potential financial impacts of key identified transition risks and opportunities that will inform our risk management and strategic planning. For more information, please refer to our Climate-related Financial Disclosures. SUSTAINABLE DEVELOPMENT REPORT 2022 188