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TISHMAN SPEYER SUSTAINABILITY REPORT 5 525 West Monroe Street,

03 04 05 06 09 10 41 42 46 47 WELCOME ABOUT US HIGHLIGHTS ACTIVITIES APPROACH THEMES APPENDIX DATA ANNEX GRI INDEX CONTACT

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 2 WELCOME

At Tishman Speyer, we consider environmental, social, and governance One notable example of reducing our environmental impact is how new (ESG) issues in every step we take, from investment management and technology at our global headquarters in , City, acquisitions to design and construction, property management, and leasing. has boosted our cooling efficiency by 70%. That single improvement has cut As a global real estate company that both develops and manages properties, Rockefeller Center’s carbon emissions by nearly half. we see ourselves in a prime position to integrate sustainability throughout Transparency is a guiding Tishman Speyer principle and in 2017 and 2018 we the entire property lifecycle. increased our transparency by improving the data coverage for operational This Sustainability Report 5 lays out our key 2017 and 2018 sustainability energy consumption at our properties under direct management to 100%. priorities and our progress in reducing our carbon emissions, mitigating our This gives us a clearer understanding of our global footprint and helps us environmental impact, and improving our tenants’ experience. We also detail find new ways to cut our energy use. how we are engaging with local communities, working with our suppliers, We also believe that real estate today is about more than just buildings, and involving our employees at every level to support these priorities. it is about the people who work and live in them. We continue to work to I am also pleased to announce that we now support the United Nations better engage with our employees, tenants, and our communities in new Sustainable Development Goals (SDGs). As a real estate company with and innovative ways. Our pioneering tenant platform, ZO., offers our tenants global reach, we will help achieve these global goals through our work additional services and new ways to connect globally and with each other. around the world. We also want to be active members of the communities we are in - last Rob Speyer Tishman Speyer has a long record of driving energy efficiency and reducing year, a record number of Tishman Speyer employees around the world President and Chief Executive Officer our environmental impact. In 2018 - for the fifth consecutive year - we won participated in our community Volunteer Days. the Energy Star Partner of the Year: Sustained Excellence Award. We at Tishman Speyer are proud of the progress detailed in this report and we are excited about the future, as we look for new ways to innovate and promote sustainable growth in the built world.

Sincerely, Rob Speyer

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 3 ABOUT US 50.5 2 3 MILLION SQUARE ,9 7 FEET OWNED 7 Tishman Speyer is a leading owner, developer, ,9 0 operator and fund manager of first-class real 7 43 7 6 ,0 ,0 26 estate around the world. Since 1978, we have 7 ,7 5 10 developed and operated 406 assets, over 167 ,6 7 million square feet in total. 4 We continually strive to maintain our status 2 ,6 4 4.6 as a global leader in sustainability. Our firm 9 3 MILLION SQUARE FEET combines a long history of developing , innovative projects with an ongoing focus on 6 IN DEVELOPMENT sustainable building operations. 1 Our performance in 2017 and 2018 is 2

summarized in this report. USA CHINA BRAZIL EUROPE $50.3 BILLION IN GROSS VALUE EXISTING BUILDINGS EXISTING NEW CONSTRUCTION NEW

1 50 06, 46,6 117 ASSETS GLOBALLY PROPERTY TYPE – TOTAL SQ. FT. ,328 MARKETS SERVED – TOTAL SQ. FT. 47,406 Data notes 1 An existing building is an owned building that has been fully occupied and operational for a continuous 12 month period.

2 New construction is a building that we have developed from the ground up, that is either still under construction or has recently been completed but has yet to be fully occupied and , operational for a continuous 12 month period.

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 4 HIGHLIGHTS

1174 51:49 TISHMAN SPEYER STAFF MALE TO FEMALE RATIO

100% 33m US PORTFOLIO IS BENCHMARKED SQUARE FEET IN ENERGY STAR SUSTAINABLY CERTIFIED

1. The Spiral, 2 2. Taunusturm, 1 5 4 3. AQWA Corporate, Rio de Janeiro 7 4. 30 Rock, New York City 3 6 5. 190 S LaSalle, Chicago 6. Crystal Plaza, 7. MIRA, San Francisco

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 5 SUSTAINABILITY At every stage of the property ownership cycle

Tishman Speyer is one of the leading names in real estate worldwide. Our involvement spans the full property ownership Mission Rock, San Francisco Smithson Plaza, The Spiral, New York City life cycle from acquisition to development and operation. In INVESTMENT MANAGEMENT ACQUISITIONS DESIGN AND CONSTRUCTION some cases, this process begins with land purchase; in almost Our investment approach capitalizes on our Our due diligence process includes We leverage cutting-edge technology and all cases it extends into ongoing property management. Our integrated platform, drawing on our in-house sustainability practices such as energy audits. industry-leading construction practices integrated platform enables us to incorporate sustainability expertise which spans all phases of property This enables us to identify energy efficiencies to ensure our properties meet the highest principles throughout the property life cycle. investment and management. and certification strategies that add value to standards of sustainability. any potential acquisition. Our commitment to sustainability is encapsulated in our Environmental, Social and Governance (ESG) Policy, ensuring that social governance and responsible environmental “By controlling every stage management are engendered in our corporate culture and underpin our day-to-day business activities. This approach of the property ownership also ensures we remain at the forefront of sustainable building cycle, Tishman Speyer has design, construction and operation, and gives us a competitive the ability to integrate advantage in attracting high-end tenants as well as maximizes the value of our assets when we seek to exit an investment. sustainability into each facet of the property lifecycle.

Find out more: ESG Policy This allows us to ensure that tishmanspeyer.com/expertise/sustainability/esg-policy sustainability is considered and incorporated throughout ZO. Clubhouse Space 620 Loft Gardens Rockefeller Center, New York City our ownership of the asset.” PROPERTY MANAGEMENT LEASING All Tishman Speyer properties are managed Our leasing experts ensure they make Jonathan Flaherty, Senior Director in line with our Green Standard Operating potential tenants aware of the sustainable Sustainability and Utilities Procedures: this sets the standard for all credentials of our buildings and the benefits renovations, maintenance, repairs and cleaning these features provide in terms of improved within our buildings. efficiency, and energy and cost savings.

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 6 CERTIFICATIONS

Tishman Speyer sets as a minimum global standard BUILDING CERTIFICATION that all our new construction projects are built to IN 2017/18 (SQ.FT.) LEED Silver certification standards with a target of 729,915 Gold or higher. And once operational, we pursue the 525,526 relevant regional certification for existing buildings 3,317,076 (LEED, HQE, DGNB or BREEAM, as appropriate for the region). Certification requirements provide a framework that enhance our ability to meet tenant needs and helps us to improve our assets’ operational performance. To date we have certified 33million sq. Q205, Berlin – DGNB Platinum Maple Plaza, Beverly Hills – LEED EB Gold ft of our portfolio globally, from which 15 million sq. ft was newly certified in 2017 and 2018 (as shows in 5,971,247 the chart on the right hand side). The breakdown of property certifications are listed in the Data Annex. 4,299,355

33m 67% LEED Platinum DGNB Platinum LEED Gold SQ. FT. SUSTAINABLY OF PORTFOLIO LEED Silver HQE Excellent CERTIFIED TO DATE SUSTAINABLY CERTIFIED

Bayside Towers I, San Francisco – LEED EB Gold 175 Varick, NYC – LEED EB Gold

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 7 AWARDS

333 Bush Street, San Francisco has been awarded The Outstanding Building of the Year (TOBY) Award for the Pacific Southwest Region, in recognition of excellence across aspects ENERGY STAR PARTNER of building management. OF THE YEAR In 2018, Tishman Speyer was awarded Energy Star Partner of The Franklin, Chicago the Year: Sustained Excellence. The Franklin was awarded Tishman Speyer has won the an Excellence in Engineering Energy Star Partner of the Year Award from the ASHRAE Award for five years running. The Illinois Chapter for its advanced energy efficiency award is given to organizations practices that have resulted that have made great strides in annual energy savings of in their energy management 3 million kWh. practices, through both efficient operations and subsequent savings. The Sustained Excellence , Award is given to those New York City organizations that have achieved Hearst Tower was awarded the Partner of the Year Award for the Grand Pinnacle Award for Corporate Facility of the Year two or more years in a row. at BOMA New York’s 2018 Awards Ceremony. They were commended for the success of their building programs and achievements across nine aspects of building management.

333 Bush Street, San Francisco The Franklin, Chicago Hearst Tower, New York City

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 8 STAKEHOLDER ENGAGEMENT

Tishman Speyer’s approach to sustainability is ENGAGING IN THE GLOBAL DEBATE informed by our engagement with key stakeholders. Tishman Speyer plays a key role within Green OUR OUR We consider our stakeholders to be any individual, Building Councils and other major industry bodies TENANTS PEOPLE group or organization that is, or could be, affected around the world, actively contributing to the global by our operations. This takes account of our clients debate on sustainable real estate. We are keen to (investors and tenants), our employees, our supply share knowledge with our peers, as well as learn from chains, and the local communities in which we operate. their experiences. We view our employees, investors and tenants as We have found that there is a remarkable willingness OUR OUR partners, and ensure we understand the issues that are COMMUNITIES SUPPLIERS within the real estate community to share evidence most important to them. This enables us to focus on and best practices and we welcome this openness. what matters most, and to respond to any concerns A full list of Tishman Speyer’s roles in these and requests at the property or fund level. We organizations can be found in the Data Annex. engage with our tenants and investors on a regular basis to ensure that we are meeting their needs and TRANSPARENCY FOR INVESTORS OUR OUR GLOBAL requirements throughout the property lifecycle. Transparency and open communication with INVESTORS PARTNERS investors are key priorities for Tishman Speyer and Tishman Speyer is committed to improving the underpin our ethos as an organization. Portfolio urban environment and communities within managers communicate regularly with investors which we operate. We seek to work with our local about major portfolio events and performance communities and supply chain partners to ensure updates. Our aim is to set new standards for our business operations protect the best interests of sustainable practices throughout our global portfolio. society as a whole. To demonstrate our achievements in this regard, we We do not specifically engage in stakeholder publish detailed case studies on our properties. conversations in relation to this report because we Many of our investors are GRESB (Global Real Estate are in regular communication with our stakeholders. Sustainability Benchmark) members. Tishman Speyer No significant concerns have been raised by our has submitted all eligible funds for assessment for stakeholders during 2017 and 2018. the past eight years. A list of our Green Star funds, Our engagement with key stakeholders is also GRESB’s highest award, is included in the Data Annex. covered in the People, Communities and Tenants sections of this report. Find out more: Sustainability Case Studies tishmanspeyer.com/expertise/sustainability/case-studies

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 9 OUR PRIORITIES

This is Tishman Speyer’s fifth global sustainability report. It has been prepared to align with GRI’s Sustainability Reporting Standards. For our last Sustainability Report (2016-17), we undertook a materiality review to identify environmental, social, economic and governance issues that are most important to our firm, key stakeholder groups and other real estate companies. Identifying the material issues for Tishman Speyer - determining the issues that are most relevant and significant for our business operations - has been greatly influenced by our commitment to supporting the United Nations Sustainable Development Goals (SDGs). With this in mind, we have reviewed and updated our list of material issues for this Sustainability Report. Our priorities now fall under six broad themes, summarized on this page, each of which is covered in detail in the following pages.

Find out more: Sustainablity Reports tishmanspeyer.com/expertise/sustainability/reports

Volunteer Event 2018, New York City

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 10 SUSTAINABILITY UN SUSTAINABLE TISHMAN SPEYER PROGRESS COMMENTARY THEME DEVELOPMENT GOAL OBJECTIVE OUR OBJECTIVES We continue to invest in new technology to drive Adopt innovative technologies operational efficiency across our portfolio. across our portfolio to deliver Data completeness for the reporting period has Delivering operational efficiency. improved significantly. operational Reduce energy intensity Energy intensity (by sq. ft.) has increased slightly in The United Nations Sustainable Development Goals efficiency across our portfolio. the reporting period due to increased occupancy by (SDGs) are the blueprint to achieving a better and Increase water-use efficiency sq. ft. across the portfolio. more sustainable future for everyone. The goals across our portfolio. Water efficiency (by sq. ft.) has increased slightly in address global challenges including poverty, inequality, the reporting period due to increased occupancy. climate, environmental degradation, prosperity, and peace and justice. Reduce carbon intensity across our portfolio. 5% reduction in carbon intensity (tonne CO e/ Managing our 2 Tishman Speyer recognizes that all large organizations sq. ft) for operational properties under direct impacts Reduce waste generation have a role to play in working towards the SDGs. through prevention, reduction, management in 2018. We have identified the SDGs that link most closely recycling and reuse. to our business operations, where we can make the greatest impact. These SDGs, identified as ‘priority’ Provide high quality working Building level programming (ZO.) and ‘additional’ goals for Tishman Speyer, are mapped Improving the environments and programming aimed at improving physical fitness to the six sustainability themes covered in this to enhance building occupants’ tenant experience and mental wellbeing. Sustainability Report. We have also identified a series wellbeing. of associated objectives to enable us to track our progress in supporting these goals.

Engaging with Engage with local Annual volunteer day engaged 470 staff our communities communities in all regions. across Europe and the in 2018.

Screen our suppliers Working with Process for rolling out a global compliance against key social and system for all of our suppliers globally under way. our suppliers environmental criteria.

Provide equal 51:49 Male: Female ratio achieved across the Looking after opportunities for our organization, but the need to achieve a better our people people at all levels. balance at all levels is recognized.

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 11 Delivering operational efficiency

Tishman Speyer aims to achieve operational efficiency by utilizing smart technologies and innovative strategies for optimal building performance. We monitor energy and water use closely, and work in collaboration with tenants and on-site teams to incorporate the most suitable measures to optimize efficiency at each property. In the US, we also have dedicated resources who work with building engineers to drive more efficient operations, meet tenant needs, and reduce energy consumption and carbon emissions.

“The people running and occupying our buildings need to be engaged to deliver improved energy efficiency. If they don’t know what the goal is, or why they are doing something, the opportunity will be squandered. We’ve gained serious momentum with the use of educational modules, training sessions, introducing new technologies, refurbishing old systems and even sending people to earn certifications. As a team, we are making the drive to ‘net zero’ a reality from within.”

Frank Martino, Director of Energy Systems

Office Complex, Frankfurt

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 12 DELIVERING OPERATIONAL EFFICIENCY HIGHLIGHTS SDG HIGHLIGHTS

2017 635,189 From 2017 onwards, we have significantly improved kgal the quality and coverage of the building performance WATER data captured across our assets. In 2018, we captured We measure and monitor water Our energy management platform energy consumption data for 100% of our operational usage across our properties in 94% of portfolio* properties under direct management, and water use captures energy consumption data data for 98% (by sq. ft.). for 100% of our operational portfolio order to highlight any unusual under direct management. trends and identify priority areas 2018 2018 2018 for improvements. 819,639 kgal ENERGY WATER CONSUMPTION USE 100% DATA DATA of buildings in the US have participated in either energy and ENERGY 98% of portfolio* water efficiency projects/strategies, 100% 98% utility incentive programs and/or demand response programs. Captured for our Captured for our 35m sq. ft. operational portfolio under operational portfolio under achieving ENERGY STAR ABSOLUTE ENERGY direct management. direct management. 3.22% certification in 2018 CONSUMPTION INTENSITY As a result of the increased coverage, our We benchmark our assets against 2017 2017 reported total water and energy consumption energy savings from energy the data of the United States is higher for 2018 than 2017. efficiency projects in the US Environmental Protection Agency’s 994,161 MWh 24.6 kwh/sq. ft. (2018). Goal of increasing energy ENERGY STAR® data to drive year- 100% of portfolio* Tishman Speyer further ensured data accuracy for the improvements to 15% in 2020. over-year improvements. 2017/2018 data sets by externally verifying the European 2018 2018 and US property data. The verification exercise was *Data Note: Portfolio data carried out by CodeGreen Solutions for the US data and coverage noted is reflective of the MWh kwh/sq. ft. Verdextra for the European data. The data verification operational properties under direct 1,008,210 24.5 letters can be found in Data Annex. management during 2017 and 2018. 100% of portfolio*

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 13 DELIVERING OPERATIONAL EFFICIENCY APPROACH

TECHNOLOGY AND INNOVATION ENERGY MANAGEMENT SYSTEM We have a long history of innovation and firmly believe Tishman Speyer has a comprehensive energy that sustainable buildings begin with good design. We management system in place at all properties in constantly look for ways to utilize technology in order the US and Europe. The management program is to minimize the impact our properties have on the comprised of two platforms: a Sustainability Data environment, during both construction and operation. Management System (DMS) and a state-of-the-art Our aim is to use innovation to push the boundaries of real-time Energy Management System. The DMS sustainable design. is primarily used by the Sustainability & Utilities department and individual property management EFFICIENT BUILDING MANAGEMENT AND OPERATIONS teams to track a building’s year-over-year energy Capital improvements coupled with the use of usage and carbon emissions. This data is ultimately sensors, controls and Building Management Systems used for local law and investor reporting purposes. (BMS) allow our operators to run the building plant The real-time Energy Management System is mainly as efficiently as possible to meet tenant needs, used by the property engineering teams to track a while reducing energy consumption and carbon building’s daily energy usage on an hour-by-hour emissions. But the value of installing new technology basis; this is in an effort to reduce daily consumption can only be realized through meticulous attention and to participate in local demand-response during operation, which is why our operations teams programs when possible. play such a key role in ensuring that our buildings run efficiently. In the US, we also have a full-time dedicated resource to work with the building engineers to drive more efficient energy operations.

Rockefeller Center Engineering Team, New York

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 14 CASE STUDY OPTIMIZING OLD AND NEW

This office complex in Frankfurt’s prestigious central business district has been designed to achieve the highest standards of sustainability and improve future adaptability and resilience. A 369,000 sq. ft. office complex occupied by a single tenant, it comprises two interconnected buildings. During the construction of the new north building and refurbishment of the existing south building, Tishman Speyer worked in close partnership with the tenant to deliver a ‘built- to-suit’ program. This approach has resulted in an office environment that is fit for purpose, promotes the occupants’ health and wellbeing and uses technologies that actively improve building performance as well as deliver savings across energy, materials and waste generation.

2011 2014 2015 2017

Tishman Speyer Building Tenant fit-out Tenant purchases site refurbished Tenant moves in fit-out

Find out more: Case Studies Office Complex, Frankfurt tishmanspeyer.com/expertise/sustainability/case-studies

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 15 CASE STUDY / OPTIMIZING OLD AND NEW LOW ENERGY TECHNOLOGIES – HIGH EFFICIENCY HVAC SYSTEM TO OPTIMIZE ENERGY EFFICIENCY

REDUCTION IN Resilience is the cornerstone to delivering ROOFTOP RAINWATER HARVESTING 53% COOLING COST an asset that optimizes building performance, improves adaptability to REDUCTION IN POTABLE 100% WATER FOR IRRIGATION climate change and promotes the health and wellbeing of occupying tenants. The holistic design features and technical innovations incorporated in this Frankfurt office contribute significantly to its LEED Platinum and Gold accreditations. ALTERNATIVE FUEL FILLING STATIONS- ELECTRICAL CHARGING POINTS

OF TOTAL PARKING 4% CAPACITY

CONSTRUCTION OF THE REFURBISHMENT OF THE NEW NORTH BUILDING SOUTH BUILDING LEED® BD+C CS PLATINUM LEED® EB O+M GOLD

HIGH PERFORMANCE FAÇADE

REDUCTION IN 36% ENERGY COST

HEALTHY TRANSPORTATION OPTION – BIKE RACK FACILITIES AND SHOWERS FOR CYCLISTS

BIKE 133 RACKS

LANDSCAPING AND GREEN SPACE

OPEN SPACE 37% VEGETATED

Red tints used sparingly to break up grey/highlight All secondary shadows to be half x height

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 16

Main lines .75pt

Window lines .40pt

Standard 4 square going right on all main buildings. All shadowing 10% Charcoal INSIGHTS SMART HOME TECHNOLOGIES AT JACKSON PARK

Inspired to design for the future, Tishman Speyer is one of the first landlords to install connective smart home technologies in all 1,871 apartments at their luxury residential development at Jackson Park in Long Island City. Targeted to achieve LEED Silver certification, the ‘Penthouse Collection’ incorporates voice activated features that enable residents to operate a more eco-efficient home by optimizing temperature, lighting and switch-controlled outlets. The installed thermostat, light settings and smart hub are the latest technological developments on the market; they use smart recovery processes to optimize energy use and equipment performance by adapting to occupants’ needs and external conditions. Encouraged by the results at Jackson Park, Tishman Speyer is planning to introduce similar home-automation features at its new residential developments in Washington DC and San Francisco.

Jackson Park, Long Island City, New York

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 17 Managing our impacts

A cornerstone of the Tishman Speyer mission is that every building we develop, refurbish and manage operates at the highest standards of sustainability, thereby reducing our impacts on tenants and the wider environment. We actively work to reduce our impacts on the external environment through minimizing our emissions, carefully considering the materials we use, reducing the waste generated during our construction and operational activities, and promoting urban greening.

“Tishman Speyer takes climate change seriously and recognizes that the real estate industry has a large role to play in moving us towards a low carbon economy. We have installed advanced monitoring systems that enable us to track our carbon output and energy usage in near real time and make adjustments as needed. In addition, we are taking steps to install state-of-the-art equipment to shift our electrical loads in our buildings to off-peak periods to take advantage of lower carbon energy and, where possible, sourcing our electricity from lower or zero carbon sources.”

Jonathan Flaherty, Senior Director of Sustainability and Utilities

One Federal Street,

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 18 MANAGING OUR IMPACTS ENERGY FROM HIGHLIGHTS RENEWABLE SOURCES SDG HIGHLIGHTS

CARBON EMISSIONS MATERIALS AND WASTE

2017 We implemented a rigorous policy on waste SCOPE 1 SCOPE 2 management to divert waste from landfill. We use recycled building materials wherever possible to All waste data is 17,969 277,906 reduce the environmental impacts associated with benchmarked in the Energy Star Portfolio Manager tons CO2e tons CO2e obtaining, processing and shipping raw materials. WasteTracker. kWh 2018 SCOPE 1 SCOPE 2 15,832 278,756 tons CO2e tons CO2e

50% 53% 47,349,538 of managed waste of managed waste 1116 from renewable CARBON INTENSITY was recycled was recycled sources in 2018. 61% of portfolio* 51% of portfolio* Electric vehicle charging points to be installed globally

5% reduction in carbon intensity (tonne CO2e/ sq. ft) for operational properties under direct management in 2018. 100% 2017 2018 2017 2018 We have integrated of total energy used in corporate level polices to Germany and electricity in *Data Note: Portfolio data coverage 16.07 15.27 limit the use of chemicals at the UK was sourced from tons CO e/sq. ft. tons CO e/sq. ft. noted is reflective of the operational renewable sources. 2 2 properties under direct management our properties globally. during 2017 and 2018.

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 19 MANAGING OUR IMPACTS APPROACH

PRECAUTIONARY APPROACH DEMAND REDUCTION PROGRAM We understand that buildings have an impact on We voluntarily participate in utility Demand the environment and the communities in which they Response programs across the US. By integrating exist, and that to be truly sustainable we need to be load reduction into our upfront building operation cautious of the potential impacts that our buildings plans, we can shift consumption away from peak and construction practices have. As such, we adopt times, thereby helping to ensure grid reliability, a precautionary approach as a guiding principle for without compromising tenant comfort. These time- how we operate. By adhering to globally accepted of-day shifting programs also deliver a substantial environmental standards and certifications, we are reduction in greenhouse gas emissions, since peak- committed to taking steps to ensure that materials load power is generally higher emitting. and practices used in our assets do not harm the AIR QUALITY environment or occupants. We look at air quality in terms of our buildings’ CLIMATE CHANGE RESILIENCE impact on the cities that surround them, and on the Climate change poses risks to the built environment. health and wellbeing of our occupants. We design We understand the risks and take steps, where our buildings to include the latest air filtration appropriate, to address these challenges head on. systems, use absorbent materials for construction, For our business, this means protecting our buildings and integrate and green wall features from the effects of climate change today and in the to improve air quality. To ensure good air quality is future. We analyze in detail the potential impacts of maintained, we conduct annual air quality testing at climate change on all our investments, covering both all of our buildings. the acquisition and construction of new buildings. URBAN GREENING We take steps to mitigate any future climate change We endeavor to integrate multifunctional green effects by factoring these changes into the design spaces such as green roofs, living walls and private of an asset, or by putting a plan in place at newly parks into all new developments and operational acquired assets to mitigate any future effects. assets. We are dedicated to protecting existing habitats, controlling pollution and optimizing the use of natural resources in and around our assets.

The Springs, Shanghai

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 20 CASE STUDY EMISSIONS AT ROCKEFELLER CENTER

Located in the heart of midtown , 45 Rockefeller Plaza is part of the prestigious 9 million sq. ft. Rockefeller Center complex. As asset owners and managers of this landmark building, Tishman Speyer is committed to continuously improving operations, reducing impact on the environment and better aligning to New York City’s goals for carbon reduction. In 2018, Tishman Speyer undertook major project works to upgrade and reinstate the satellite chiller plant servicing 45 and . By using modern technologies, we were able to dramatically reduce electricity consumption and neutralize peak demand spikes. This included the replacement of chillers with 61 ice storage tanks, upgrading electrical services and the installation of more efficient chilled water pumps. The result is a 43% carbon emission reduction across the two buildings.

70% 314 TONS CO2 IMPROVEMENT IN ANNUAL CARBON REDUCTION COOLING PLANT DUE TO CHILLER IMPROVEMENT EFFICIENCY

45 Rockefeller Plaza, New York Find out more: Case Studies tishmanspeyer.com/expertise/sustainability/case-studies

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 21 CASE STUDY / EMISSIONS AT ROCKEFELLER CENTER

Demand response management plans have enabled the building operations to be more responsive to the needs of tenants by generating cooling capacity during off-peak hours. This has led to a 70% reduction in on-peak electrical demand and a savings of 43 metric tons of CO2 per year by utilizing energy from Timelapse: Chiller plant installation at renewable sources. 45 and 50 Rockefeller Plaza, 2018

Click below for an interactive view of how the plant works

Timelapse: Chiller plant servicing at 45 and 50 Rockefeller Plaza, 2018

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 22 INSIGHTS ELECTRIC VEHICLE CHARGING

Tishman Speyer is committed to reducing the impact of our business operations on the wider environment, as well as offering services to enhance NORTH our occupants’ health and wellbeing. Since 2018, we AMERICA have been developing a program to provide electric vehicle (EV) charging facilities at our properties 414 globally. We have been working with our local EUROPE property managers and numerous Electric Vehicle Charging companies to assess user needs and 28 ASIA availability of space on a property-by-property basis. 284 To date, we have planned the installation of 1116 charging points globally. There is a growing demand for EV charging facilities in metropolitan areas and in response to this we will offer a full turnkey solution, allowing our occupants to park and charge their vehicles free of charge at the majority of our participating properties.

The charging points will be supported by private SOUTH investments from Tishman Speyer and grants such AMERICA as the Electrify America National Zero Emission 390 Vehicle Investment Plan. To encourage the use of sustainable transport options, we aim to install charging facilities at an increasing proportion of our portfolio moving forward.

Electric Vehicle charging points to be installed 1116 at Tishman Speyer properties globally. TOTAL ELECTRIC VEHICLE CHARGERS TO-BE INSTALLED

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 23 Improving the tenant experience

At Tishman Speyer, our goal is to establish long- lasting relationships with tenants in each of the markets in which we operate. This begins with in-depth consultation with prospective tenants to understand their requirements and continues through ongoing engagement once tenants are in place. These close tenant partnerships help us to continually improve the performance of our properties and create long-term sustainable value for our communities.

“The real estate industry is increasingly shifting from a property-centric to a people-centric view, and Tishman Speyer has led the way in responding. With the introduction of our tenant engagement platform ZO., we have been able to provide an elevated tenant experience at our properties, to support our clients in their efforts to attract and retain top talent, and to position ourselves as a valued strategic partner to our clients. Tishman Speyer tenants now benefit from exclusive services, amenities and a bespoke program curated to promote a happier, healthier and more productive workday, powered by ZO.’s bespoke mobile app, as well as elevated ZO. lounges at many of our properties.”

Mitch Vainshtein, Director of ZO. global expansion 125 High Street, Boston

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 24 IMPROVING TENANT EXPERIENCE

HIGHLIGHTS SPOTLIGHT SDG HIGHLIGHTS HEALTH AND WELLBEING Sustainable buildings are happy buildings. Studies have shown that a healthy indoor work environment Our most important job is to serve the can contribute to greater productivity and enhanced 250,000 people who work in our buildings wellbeing, and occupant comfort is increasingly important to our tenants. We believe that a diverse each and every day. Instead of defining offering of convenience and lifestyle amenities across our ourselves by the square feet we own, we portfolio helps to enhance wellbeing for users. “Tishman Speyer has long will define ourselves by the quarter million In 2017, Tishman Speyer established a working been recognized as a relationship with The Center For Active Design (CfAD) market leader in providing people who use the square feet and how Our ZO. service for tenants is as one of the first Fitwel Champions in the market. We building services with a now available at 33 properties hope to utilize the Fitwel certification scheme to design well we tend to them. across the United States. and manage our properties to enhance factors of health sustainable focus. We Rob Speyer, Chief Executive Officer of Tishman Speyer and wellbeing such as natural light, access to green space, are thrilled that they are indoor air quality and support for active travel modes. also concentrating on We have successfully certified One Channel Center, impacting health within Boston through the Fitwel scheme and have worked their global portfolio 130,000 60 closely with Fitwel to localize the Fitwel Survey in the UK Engagement events for Earth and advising Fitwel on Of our daily building occupants were as well as develop the multitenant survey, which has since Day and Daylight Hour were its development in the engaged in our Earth Day initiative at held at 60 properties to engage been released publicly. 60 properties in 2017 and 2018. occupants in environmentally We plan to introduce Fitwel to the Chinese, Indian and coming years.” friendly activities in 2018. European markets, making it a global strategic resource Joanna Frank, President and Chief Executive and roadmap to create healthier work environments. Officer of the Center for Active Design 50,000 We have also begun developing a training program that aims to assist Tishman Speyer employees to achieve their Of our daily building occupants One Channel Center has been accreditation as Fitwel ambassadors and expand the participated in the officialDaylight Fitwel certified as of 2018 and we continue to increase the use application of the Fitwel survey across our portfolio. Hour event at 19 properties in 2018. of the certification across our global portfolio.

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 25 CASE STUDY ZO. HEALTH AND WELLBEING

At Tishman Speyer, we recognize the importance of facilitating a healthy work-life balance that supports the modern workforce. ZO. is a social engagement platform which offers our tenants and their employees direct access to wellness, lifestyle and corporate services. We work closely with our property managers and tenant representatives to create bespoke ZO. experiences; these are developed specifically for our tenant’s employees. ZO. has been rolled out to 33 properties across the US and offers a comprehensive suite of services for today’s employee.

“Thank you for making ZO. happen! It truly has been a wonderful addition to the work environment.” ZO. user 33 1200+ PROPERTIES ZO. EXPERIENCES

Find out more findyourzo.com

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 26 CASE STUDY / ZO. HEALTH AND WELLBEING

Tishman Speyer ZO. amenities revolve around six service offerings, all of which have been designed to support and engage our tenants in their working “It’s nice to have moments in environments and prompt them to keep the work day where you can employees’ wellbeing in mind. focus on your own needs. It’s “Our focus is on the people also nice to have opportunities to try new things, such as who spend a large part of food and products.” their day in our buildings, ZO. user these offerings help create an inspired, innovative and “Polite, courteous service. differentiated workplace that Convenient for my busy enhances employee wellness schedule. Overall great and happiness, and in turn experience. Will repeat increases productivity.” again next year.” Michael Spies, Senior Managing Director ZO. user

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 27 Engaging with our communities

In creating properties of enduring value around the world, Tishman Speyer is committed to improving the urban environment and communities within which we operate. Dedicated to giving back to these localities, our philanthropic efforts are far-reaching. The foundation of these initiatives is our employees and we constantly look for ways to encourage social growth through community involvement. We believe that our organization and our employees perform best when every team member feels that they are contributing towards positive change in the world.

“We perform best as a team when we work as a team. Community alignment is our key goal and working together is our key to achieving that goal.”

Michelle Adams, Managing Director of Global External Relations and Business Development

Rockefeller spring art sundae

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 28 ENGAGING WITH OUR COMMUNITIES HIGHLIGHTS

SDG HIGHLIGHTS

470 Tishman Speyer employees volunteered in 2018 volunteer events. 40% of our global employees engaged in community-based activities in 2018 volunteer events.

One Bush Street, San Francisco Habitat for Humanity Volunteer Site, New York, 2018 30 $300k SPOTLIGHT SPOTLIGHT Community partners and charities Tishman Speyer was a sponsor for NEIGHBORHOOD DESIGN PARTNERSHIPS WITH THE COMMUNITY were involved in our global volunteer the 2018 JDRF New York Real Estate Our aim is to create a forum for community engagement as Tishman Speyer is proud to be a working partner initiatives in 2018. Games and was part of the effort to part of the visioning process for public realm interventions of Habitat for Humanity. We have worked with raise upwards of $300k to support and other neighborhood design elements. By adopting a the non-profit organization for over a decade programs for Type 1 Diabetes. participatory approach, we actively involve the community now and our employees regularly volunteer with and generate exciting and original ideas. the organization to build homes for those in Environmental impact assessments (EIA) are carried out need on our annual Volunteer Day. Charitable partnerships with as part of the due diligence and planning process for new Each year, our iconic Rockefeller Center 35 China Dreams Come True developments and some new acquisitions. Taking on board Christmas Tree is donated for use as lumber in Foundation and BlueSky4Children the views of the local community is of paramount importance the construction of homes across the US; this is a Volunteer based programs were were initiated by Tishman Speyer run year-round globally in 2018. employees in Shanghai. in this process. EIA reports are made publicly available. long-standing tradition that we plan to continue.

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 29 INSIGHT VOLUNTEER DAY

NYC Volunteer Day 2018 video Tishman Speyer hosts an annual Volunteer Day for our NYC employees. June 2018 marked the fourth year that we have been hosting this event. Employees across all of our NY offices get involved and spend the day working with local community partners to assist on underserved projects and raise awareness of initiatives in the broader community. We believe that our organization and our employees perform at their very best when every team member feels that they are contributing towards positive change in the world. Our Volunteer Day events all seek to enhance our employees’ relationship to the communities our business operates in, and include programs to rehabilitate neighborhood green spaces, renovate facilities at public schools and build homes for those in need. In 2019, we are expanding our Volunteer Day to all Tishman Speyer employees in the seven states in which we operate in the US. In 2020, our Volunteer Day will go global and will include all of our employees in China, Brazil & Europe. 470 TISHMAN SPEYER EMPLOYEES VOLUNTEERED IN VOLUNTEER EVENTS IN 2018

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 30 CASE STUDY COMMUNITY ENGAGEMENT AT 333 BUSH

The Tishman Speyer team at 333 Bush Street has been AIDS WALK SAN FRANCISCO recognized for its stewardship of awareness initiatives The team members are ambassadors for the AIDS in San Francisco and its programs for community Walk San Francisco and have participated in the involvement. Trusted members of the community, program for the past four years. They have raised the team represents the interests of residents and over $25,000 for community-based services and are businesses in several board groups, and looks to ranked the fourth highest financial contributor to the safeguard the wellbeing of the public, as well as cause. In their role as ambassadors, the team also encourage social development within San Francisco. works with Tishman Speyer colleagues and tenants Amongst the responsibilities of managing a high- to raise awareness of the charity’s programs. profile building in San Francisco’s financial district, COMMUNITY AMENITIES the team is actively involved in a wide range of Trinity Plaza is an open public space adjacent to community activities and regularly participates in 333 Bush Street, with the east side of the plaza Building Owner Managers Accreditation (BOMA) San open to the public 24/7. Tishman Speyer invested Francisco’s charity initiatives. over $513,000, installing new seating and extensive NEIGHBORHOOD EMERGENCY COALITION landscaping, including a living wall and window The 333 Bush Street team was instrumental in the coverings, to make the environment more attractive formation of the Bush/Montgomery/Sutter Streets to tenants and visitors. AIDS Walk, San Francisco, 2018 Neighborhood Emergency Coalition; the objective WALL MURALS being to collectively provide resources in case of San Francisco is one of the top three cities for murals “The success the Tishman Speyer team an emergency. 333 Bush Street also hosted the in the United States. Murals adorn ’s walls and has achieved at 333 Bush is noteworthy. quarterly meeting in December 2018 of 30 property alleys with bright colors and poignant messages. 333 This has been no small undertaking management professionals and members of the San Bush Street is proud to join the celebration. Partnering and is only possible due to a group Francisco Police Department. with Ryan Martin, the entrance wall to the parking Winners of the TOBY Award for the Pacific Southwest Region of dedicated professionals working garage features iconic San Francisco monuments. together collaboratively.” Glenn Good, General Manager at 333 Bush Street

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 31 1 2

1 – 1400 Mission Street, San Francisco: In conjunction with LUMINA, Tishman Speyer constructed a 190- unit affordable housing project at 1400 Mission Street. The project provides CASE STUDY rare affordable home ownership opportunities, offering stability for AFFORDABLE HOUSING working families who otherwise risk displacement as rents rise. IN SAN FRANCISCO

2 – , San Our commitment to bringing high quality affordable Francisco: Tishman Speyer partnered with housing to San Francisco, along with our market-rate local developers to deliver developments, has helped to form the basis of strong two separate affordable relationships with key public sector stakeholders in housing projects. 900 Gilman provided 20 the city. Through our affordable housing projects units of affordable family over the last decade, Tishman Speyer has contributed housing near Candlestick Point, and 888 7th Street more units of affordable housing than any other for- provided a further 158 units profit developer in the region, demonstrating how of workforce housing. public-private partnerships can help address the 3 – Mission Rock, growing problem of housing affordability. San Francisco: At 3 4 Mission Rock, a new Tishman Speyer has dedicated considerable neighborhood under resources and expertise to combat the city’s development in shortage of affordable homes, delivering far more partnership with the San Francisco Giants, Tishman affordable homes than would be constructed under Speyer has committed city requirements, at a higher quality and with a to constructing 40% of all on-site units (400 lower cost. Working collaboratively towards housing households) as affordable solutions also places us in a unique position to further for very low to middle income families. develop our partnerships with city governments, non-profit developers and corporate partners. 4 – MIRA, San Francisco: At MIRA, currently under construction in the city’s dynamic Transbay neighborhood, 40% of the building’s 392 units are dedicated to households earning 80-120 percent of the area median income. Strategies and subsidies will be put in place to ensure homeowner association dues are affordable to below-market rate residents.

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 32 Working with our suppliers

Given the broad range of functions within our own business, we are acutely aware of the immense scale of the supply chain on which we rely. As such, we only work with suppliers that recognize our standards for sustainability and collaborate with them to improve the overall performance of our assets. We work closely with our supply chain partners to develop a strong sustainability-led vision for our buildings throughout their lifecycles. Our partnerships with design teams, construction and operational partners enable us to minimize the environmental and social impacts from the products and services we utilize and create opportunities for innovation.

“As part of our competitive and compliant procurement process, we don’t lose sight of the importance of sustainable sourcing. As such, we work closely with our teams across Tishman Speyer to ensure our commitment is manifested in the bidding and contractual processes.”

Aaron Dent, Chief Procurement Officer

JACX, New York

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 33 WORKING WITH OUR SUPPLIERS APPROACH

REQUIREMENTS FOR SUPPLIERS LOCAL SPEND Tishman Speyer is principally in the business of We view all of our buildings and construction sites SDG HIGHLIGHTS buying, operating and constructing office and as locations of significant operations. We always aim residential buildings. Our supply chain is extensive, to purchase locally (within 500 miles of a building’s Third party review of Tishman Speyer’s exposure to modern slavery and for new construction this consists of purchasing location). This gives us the opportunity to boost human trafficking in our UK supply raw materials as well as the contractors engaged to local economies, as well as reduce the environmental chain was conducted in 2018. The complete aspects of the construction process. On impacts associated with transportation. review concluded that risks were low. the operating side of the business, the supply chain CHILD LABOR AND MODERN SLAVERY consists of products and services needed to operate Tishman Speyer is strictly opposed to the use of child our buildings, a significant portion of which is energy labor and modern slavery or human trafficking in any and water services, and waste management. and all operations, including those conducted by our We only do business with suppliers that comply suppliers. with local laws and regulations related to fair labor We are taking measures to assess, prevent and and wage standards. We monitor our suppliers and eliminate, as far as possible, the risk of modern conduct regular spot checks to ensure that these slavery and human trafficking taking place within our standards of practice are always maintained. UK bases and supply chains. COLLABORATION WITH SUPPLIERS We work closely with environmental and technical specialists throughout our property lifecycle to deliver complex designs, monitor performance against sustainability goals and pursue opportunities for innovation. To minimize the impact of our supply chains on the environment, whenever practicable, we require our design professionals, contractors and consultants to adopt the latest environmental safeguards and standards.

Wheeler, New York JACX, New York

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 34 CASE STUDY GREEN WALLS

In 2018, Tishman Speyer worked in partnership with Garnett Architects and Sagegreenlife to install a floor- to-ceiling custom living wall at The Franklin, Chicago. Located in the lounge area, the living wall is a towering 700 sq. ft. biophilic design feature comprising a total of 4620 living plants of eight different species. Tishman Speyer is ambitious in the sustainability vision for our buildings and recognizes the crucial role Green wall installation video suppliers play in achieving our aspirations. Inspired to work in collaboration with Sagegreenlife and Garnett Architects to draw on their expertise, a key aim was to actively improve factors of tenant wellness relating to air quality, health and overall workplace satisfaction. AIR QUALITY By working with market leaders and choosing the Living walls reduce airborne mold spores and bacteria by up to 60%. most advanced hydroponic system available on the market, the water consumption of the wall and overall impact on building operations is minimized. Tishman Speyer worked closely with Sagegreenlife from the design feasibility stage to the commissioning CREATIVITY and final installation of the green wall at The Franklin, Employees in offices with green walls providing input on the design aesthetics. The living generate 30% more ideas and offer noticeably more creative solutions. wall brings the concepts of modern art to life through lush greenery and delivers a near perfectly absorptive surface that can significantly contribute to reducing ambient noise in the lounge. WELLNESS When living walls are introduced into an environment, people experience 60% fewer sick days.

Green wall at The Franklin, Chicago

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 35 Looking after our people

At Tishman Speyer, our people are our lifeblood, and we go to great lengths to hire and retain the very best. We encourage knowledge-sharing, continued learning, and a culture of teamwork; all accomplishments are celebrated. We care deeply about our employees and help them find success in long-term careers. We host several global initiatives annually that reinforce our Guiding Principles and highlight our commitment to our employees, including global conferences and workshops, LEED training, campus recruiting, and internal training programs. We have also introduced new initiatives to facilitate continued growth and engagement of our people.

“Our people are our best assets. Our global team works seamlessly with each other, sharing best practices, ideas and knowledge. We foster a spirit of camaraderie with the same energy that we care for our clients. With the single purpose that We Love Great Real Estate, there is enormous pride in everything we do.”

Dana Norris, Corporate Culture and Vision

Tishman Speyer employees, 2018

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 36 LOOKING AFTER OUR PEOPLE HIGHLIGHTS SDG HIGHLIGHTS Tishman Speyer CONNECT portal, 2018 SPOTLIGHT CONNECT In July 2018, we launched a new internal portal, CONNECT. Replacing an out-of-date, static portal, CONNECT has become the go- 1174 to global platform for our employees to share Staff across 17 locations in 2018. information and keep up to date with what’s 51:49 going on in the company. Male to female ratio across all CONNECT gives employees quick and easy employees in 2018. access to every corner of our organization: our projects, tools and systems. It also serves as a social media platform and features a scrolling news feed where users can upload photos 100% 280+ and share recent activities at their property Of employees received a performance and or in the regional offices. We’ve also included career development review in 2018. Employees participated in the 360 Feedback program areas that highlight our newest assets, team for all senior managers and building activities, and volunteering initiatives. CEO in 2018. CONNECT has become more than just a The platform is built around home for navigating our internal resources; three main themes: it has become the way that people get Our Business excited about sharing what they’re working 632 50 Our Company on, celebrating their local communities, and Tishman Speyer engineers Employees participated in Our People developing relationships. completed our National professional training in 2018. Engineer Training Program launched in 2018.

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 37 LOOKING AFTER OUR PEOPLE APPROACH

CAREER DEVELOPMENT TRAINING AND EDUCATION All Tishman Speyer employees participate in an Our commitment to driving sustainability into each annual job performance and career development sector of our business applies at all levels of our review with their direct manager. Employees at the organization. As such, a dedicated sustainability Analyst, Associate and Director levels participate in a training program offering online and in-person mid-year performance dialogue with their manager workshops, and sessions to share best practices to assess performance and develop an action plan to have been implemented for the property achieve their year-end goals. management teams. Additionally, in 2018 we rolled out 360 Feedback These programs include support for supervisor for all Senior Managing Directors worldwide. This training, negotiating skills, safety training, OSHA program allows employees and peers to provide training, non-discrimination and harassment anonymous feedback to senior managers through a training, and regular ‘Lunch and Learns’ hosted survey on leadership. The results are then delivered in by specialists. In 2018, we launched our National a one-on-one coaching session with a senior member Engineer Training Program to teach our engineers of the Human Capital Management team, with a about the latest real-time energy management focus on leadership development. tools and how to implement them at their properties to optimize efficiency. With participation from all 20 senior managers, including our CEO, Rob Speyer, and over 280 In addition to in-house training, we also recognize employees sharing feedback, the program has that external courses are a necessary and desirable proved to be a valuable tool, helping our most senior way to upgrade employee skills, and important team members further develop their leadership for career development. We offer educational skills. Based on the response from this initiative, we assistance for work-related courses at an accredited are rolling out the 360 Feedback program to all college or university. Managing Directors globally. Tishman Speyer Offices, Shanghai

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 38 INSIGHTS HEALTH AND WELLBEING

Through the WellRight benefit program, we offer an extensive package of benefits and programs designed to support the needs of our diverse workforce. Our benefit offerings aim to address a wide range of personal issues by providing retirement planning, medical and security protection anywhere an employee travels globally, education assistance, commuter friendly programs, on-line training capabilities and access to healthy lifestyle services such as meditation sessions and nutrition support. As a company that sets the bar for first class office space for our tenants, we look to leverage this experience in our own offices. In 2017, we began a program of custom buildouts at our offices in Washington DC, London and Shanghai to include features such as an agile floor plan, standing desks and integrated technologies to enable our employees to work more effectively. These transformations have enabled us to create a more flexible work environment, and encourage a culture of collaboration and sharing, as well as providing quiet spaces for concentration and privacy. Our goal is to create office space that anticipates the needs of our employees while supporting creativity and communication. These redesign projects are a terrific opportunity to engage our people throughout the planning process, learning more about what is most important to them and how we can better support all types of workers. The shift in energy through our renovated offices is palpable, and we are excited about the ongoing efforts behind upgrading all of our offices and showing our people that we are committed to Tishman Speyer offices, London creating the best working environment possible.

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 39 INSIGHTS EMPLOYEE ENGAGEMENT

At Tishman Speyer we aim to create a culture where all employees, regardless of their tenure, title, or experience, feel comfortable voicing their ideas, thereby fostering greater engagement and encouraging creative problem solving. In 2017, we hosted the inaugural Tishman Speyer Idea Olympics, a friendly competition amongst our employees to spur new ideas and develop more innovative practices across our business. Analysts, Associates, Managers and Senior Director Offsite, Europe, 2018 Jackie Gong Leadership Conference, New York Directors were invited to assemble teams and deliver a five-minute pitch in response to our question, ‘How can Tishman Speyer improve a residential building to give it a competitive edge?’ The winning idea proposed the installation of smart home technology features in our Jackson Park residential tower apartments. The idea was so well received that smart technologies were installed in all residential units, with additional specialized features being rolled out to the 112 penthouse units. This exercise demonstrated how a small idea can have a big impact, and that a great idea can come from anyone. The Idea Olympics has kick-started broader engagement and we are working hard to empower our people, encouraging them to voice their ideas, as well as to be receptive to new ways of thinking.

Team Hike, Washington, DC Office Opening Celebration, Shanghai, 2018

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 40 APPENDIX

GOVERNANCE Company business is conducted with Every member of the firm’s governance POLITICAL CONTRIBUTIONS Green Building Council United Kingdom: integrity and honesty, and complies with all bodies (Investment and Management Member The Management Committee is the Tishman Speyer believes in the applicable laws in a manner that precludes Committees) has received training on the highest body for governance and importance of engaging with the public DGNB, the German Sustainable Building considerations of personal advantage ACP and participates in ongoing anti- decision-making within Tishman Speyer. policy process, including through making Council: Member or gain. We expect our employees to corruption training. Additionally, periodic All capital decisions for the company political contributions where permitted accept professional responsibility for their compliance presentations are given to the Real Estate Board of New York: Chair of sit with the Investment Committee. The by law. Our firm has rigorous internal individual decisions and actions, model Committees which regularly address the Sustainability Committee Committee responsible for economic, policies and compliance processes to ethical conduct, exercise good citizenship, topic of anti-corruption. environmental and social topics is the ensure compliance with relevant legal and Urban Land Institute Sustainable and make every effort to advocate the Management Committee. Decision- Apart from our Committees, anti- regulatory requirements. Among other Building Council: Member, New York highest ethical standards throughout the making and executive-level responsibility corruption training is mandatory for things, Tishman Speyer is committed to City Steering Committee, Responsible entire organization. for environmental and social topics sits all employees. Employees receive new complying with all applicable laws relating Property Investing Council, Sustainable with Jonathan Flaherty in New York. Find out more: Guiding Principles hire and annual compliance training to political contributions and participation Development Council tishmanspeyer.com/firm/guiding-principles which address bribery and corruption. in the electoral process, including SEC Find out more: Governance Global Real Estate Sustainability Furthermore, employees whose Rule 206(4)-5, the Federal Election tishmanspeyer.com/firm/people Benchmark (GRESB): Member, ANTI-CORRUPTION responsibilities carry enhanced corruption Campaign Act, and applicable state and Benchmark Committee Member risk are provided with specific, more local laws. Consistent with these laws, ETHICS AND INTEGRITY Tishman Speyer has a zero tolerance tailored anti-corruption training. political contributions made by entities New York Building Energy Exchange: policy with respect to bribery and Tishman Speyer’s Guiding Principles lay and individuals affiliated with Tishman Chair of Board corruption. This principle is embodied in In addition to the training delivered out the ethical principles of our global Speyer are generally subject to public Tishman Speyer’s Global Anti-Corruption to employees, anti-corruption risk is Fitwel Advisory Council business. Underpinning these core reporting and disclosure by the recipient Policy (ACP), which applies to all Tishman also addressed by Tishman Speyer’s tenets are rigorous policies that apply and, in some cases, the contributor. Fitwel Advisory Board Speyer employees. The ACP addresses, Compliance program through periodic to all employees regarding compliance, amongst other things, corruption risk testing of existing controls. Where TISHMAN SPEYER PARTNERS USGBC LA business ethics, anti-corruption and involved in giving or receiving anything testing reveals issues, the Compliance financial governance. We adhere to the United States Environmental Protection The Real Estate Roundtable of value, facilitation payments, business Department takes steps to address highest standards of social, employment Agency: Energy Star Partner in Sustained partners, and transactions. these through additional training or US Green Building Council section: serves and environmental practices, striving Excellence implementing additional anti-corruption on LEED Advisory Committee (Platinum to make each community in which we controls. Information regarding our Global US Green Building Council: Former Member) and LEED Steering Committee operate a better place to live and work. Anti-Corruption Policy is available to Board of Directors, Founding sponsor NYECC (New York Energy Consumers investors upon request. of USGBC’s Urban Green Council in Council), Board Member New York, serves on LEED Advisory Committee (Platinum Member) USGBC Chicago

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 41 DATA ANNEX

SCOPE 2017 2018 Notes Data was available for properties comprising the following Portfolio square footage: 72,779,290 71,384,235 Includes: All owned and operated Coverage (sq. ft.): properties, single-let and properties 2018 – 41,119,787 sq. ft. (76 properties) Whole Portfolio Number of under development or undergoing 120 117 2017 – 40,458,601 sq. ft (74 properties) Properties: refurbishment METHODOLOGY Portfolio 40,458,601 41,119,787 The data presented in this report relates to Tishman Speyer’s Operational portfolio Coverage (sq. ft.): Includes: Owned and operated under direct management properties with management properties that were operational during the reporting period Number of (included in data reporting) 74 76 influence by Tishman Speyer. of 2017 and 2018 and have direct management influence by Properties: the organization. We were unable to obtain complete data Portfolio coverage to include all operational properties due to challenges Operational portfolio not 8,475,619 6,286,541 Excludes: Single-let properties under direct management Coverage (sq. ft.): and properties with no significant with gathering consumption data directly from tenants and (excluded from data Number of management control or influence in emerging markets. Data completeness for each metric is 16 10 reporting) Properties: from Tishman Speyer represented by scope (referring to the proportion of properties reporting consumption data, by square footage). Portfolio Portfolio under 23,845,070 23,977,907 Coverage (sq. ft.): Excludes: Properties under development (excluded Number of refurbishment and/or development. from data reporting) 30 31 Properties:

The data reported relates to whole building usage (including tenant usage and shared spaces). Only actual data has been recorded; there is no estimated consumption. The individual buildings are either metered to record consumption of the whole building (including tenants), or are able to receive whole building energy consumption directly from the local utility.

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 42 DATA ANNEX

DATA VERIFICATION

Tishman Speyer completed a third-party verification of their USA and European portfolio’s 2018 greenhouse gas inventory with the intention to provide Limited 2019 Sustainability Report Data Verification From: Lisa Bolle, CodeGreen Solutions Assurance of the submission’s accuracy and To: Amber Kraus, Tishman Speyer completeness. The reviews conducted by CodeGreen Date: June 27, 2019 RE: Third Party Verification – Limited Assurance Solutions for USA properties and Verdextra for European properties concluded that the energy, water, Scope CodeGreen Solutions has conducted an independent third-party review of Tishman Speyer USA Portfolio’s 2018 waste and GHG assertions are presented fairly in greenhouse gas inventory with the intention of providing Limited Assurance of the submission’s accuracy and completeness. The scope of the review includes all Scope 1 and Scope 2 emissions sources, as it applies to the accordance with the relevant criteria. selected reporting boundary of US operations under operational control. CodeGreen assigned an independent internal team to perform Limited Assurance in accordance with ISO 14064-3 International Standard. The internal team performing this review has not contributed to the compilation of the performance summary. The objective of this Limited Assurance is to confirm data, controls, and processes supporting the Greenhouse Gas (GHG) emission calculations per Tishman Speyer USA Portfolio’s GHG assertion according to the procedures set out in ISO 14064-3 and GHG Protocol. The goal is to provide Limited Assurance using an independent third-party team within CodeGreen Solutions. The scope of this verification included verification of a select group of properties, determined through a random sampling procedure. This statement should not be relied upon to detect all errors, omissions, or misstatements that may exist. Level of Assurance Level of assurance is used to determine the depth of detail that a Verification Body designs into the Verification Plan to determine if there are material errors, omissions, or misstatements in a company's GHG assertions. Three levels of review are generally recognized – Reasonable Assurance, Limited Assurance, and Checked Review. Reasonable Assurance generates the highest level of confidence that an emissions report is materially correct (with the exception of Absolute Assurance which is generally impractical for companies to achieve). Limited Assurance provides less confidence and involves less detailed examination of GHG data and supporting documentation. Limited Assurance statements assert that there is no evidence that an emissions report is not materially correct. Checked Review is a third-party review of data that does not comply with the definition of assurance/verification but does offer a review of data accuracy and completeness. CodeGreen’s verification of Tishman Speyer USA Portfolio’s GHG Emissions Inventory for 2018 data was constructed to provide Limited Assurance.

codegreensolutions.com 800.921.4262

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 43 DATA ANNEX

ENERGY WASTE Breakdown of energy There is no estimated consumption included in this 2017 2018 figure. The individual buildings are either metered to Non-hazardous waste data is collected at the 2017 2018 use by type (kWh) capture whole building energy consumption or are asset level directly from the local waste hauler; Total energy usage Electricity 685,703,714 671,345,735 able to receive whole building energy consumption no estimated data has been reported. Data for 994, 161,000 1,008,209,902 (kWh) directly from the local utilities. hazardous waste is not collected at asset level. Natural Gas 91,310,887 82,690,451 Total floor area (sq. ft.) 40,458,601 41,119,787 For the majority of data, conversion factors were Data coverage is incomplete due to complications in Fuels (Fuel Oil #2, Diesel) 5,550,229 6,825,161 obtained from US EPA’s Emissions & Generation obtaining accurate, timely data from waste haulers in Energy intensity 24.57 24.52 all regions. (kWh/sq. ft.) District Heating or Resource Integrated Database (eGrid) which 211,596,170 247,348,555 Cooling captures data relating to emissions of carbon dioxide, Non-hazardous managed Scope (sq. ft.) 100% 100% 2017 2018 methane, nitrous oxide, nitrogen oxides, sulphur waste (US Tons) Total 994,161,000 1,008,209,902 dioxide and mercury. For properties in Europe, The calculation of energy included in the intensity conversion factors were obtained from the UK Recycling 6,510 5,605 ratio includes all types of energy consumed at the EMISSIONS Department for Environment, Food & Rural Affairs building (including electricity, natural gas, fuel oils, Landfill 6,631 4,967 2017 2018 (Defra, 2018). district steam and chilled water). The ratio includes all WATER base building and tenant consumption. Total 13,141 10,572 Scope 1, tonnes CO2e 17,190 16,736 2017 2018 Scope (sq. footage) 50% 51% Breakdown of 2017 2018 Scope 2, tonnes CO2e 276,980 279,639 energy use Municipal water use, kgal 635,188 819,639 Total, tonnes CO e 294,949 296,639 Non-renewable (MWh) 949,260,495 960,860,364 2 Scope (sq. footage) 94% 98% Scope (sq. footage) 100% 100% Renewable (MWh) 44,900,505 47,349,538 It has not been possible to obtain complete data Total (MWh) 994,161,000 1,008,209,902 Scope 1 and Scope 2 emissions were calculated coverage due to challenges with data availability based on actual, whole building data recorded during from the utility and property management teams in Proportion from 4.52% 4.70% the ownership period in 2017 and 2018 for assets certain markets. renewable fuels under operational control. This includes all base building and tenant consumption.

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 44 DATA ANNEX

EMPLOYEES ENGAGEMENT All data has been compiled from our global human TISHMAN SPEYER GRESB GREEN STAR FUNDS The GRESB Rating is based on the GRESB Score Our data on employee hire numbers and turnover resources department and no assumptions or and represents the relative performance of the entity Funds Green Star GRESB GRESB rates has been compiled from our global human estimations have been made. All data is accurate as (Stars) Designation Score Rating relative to the global performance of all reporting resources department and no assumptions or of December 2018: entities. The GRESB score is out of 5 and represents USO I Y 71 3/5 the entity’s quintile position relative to the GRESB estimations have been made. All data is accurate as EMPLOYEES BY GENDER of December 2018: universe. Full time Part Time USO II Y 67 3/5 Funds that are New Construction ONLY were 2017 2018 Male 601 4 excluded from this list. USO III Y 65 2/5 Total number of 158 177 people hired Female 555 14 BUILDING CERTIFICATIONS US Fund VI Y 58 2/5 Global Turnover 15% 19% Total 1156 18 Portfolio coverage Certificate Type Rating US Fund VII N 47 2/5 (sq. ft) ENGAGEMENT 1174 LEED New We encourage our employees to put forward Platinum 666,103 sq. ft OCCUPATIONAL HEALTH AND SAFETY US Fund VIII Y 73 3/5 Construction opinions and suggestions regarding operations, Lost day rate 10% LEED New work facilities, procedures, serving our clients and, in Europe ESOF Y 70 3/5 Gold 2,691,708 sq. ft Construction general, any work-related issues. Absentee rate 10.86% Europe TSEC Y 61 2/5 LEED Existing Injury rate 2.4% Platinum 1,114,373 sq. ft DIVERSITY AND EQUALITY Buildings Our decisions related to employment issues are Occupational disease rate 0% Europe Fund VI Y 67 3/5 LEED Existing Gold 17,066,244 sq. ft based on personal capabilities and qualifications Buildings without discrimination on the basis of race, color, age, Europe Fund VII Y 61 2/5 COLLECTIVE BARGAINING LEED Existing gender, sexual orientation, marital status, veteran At December 31, 2018, 62% of our employees were Silver 8,307,343 sq. ft The GRESB Green Star is a rating on absolute Buildings status, national origin, disability, religion, or any other subject to collective bargaining agreements (US performance. Entities with scores higher than 50 on protected characteristic as established by law. only). HQE Excellent 3,317,076 sq. ft both the Implementation & Measurement and the Management & Policy dimensions earn the Green DGNB Platinum 525,526 sq. ft Star. The GRESB Score is an overall measure of ESG No certification 16,819,414 sq. ft performance, represented as a percentage.

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 45 GRI CONTENT INDEX

Sustainability Reporting standards (2016) CRE disclosures relate to GRI-G4 construction and Real Estate sector disclosures (2014).

Identifying and selecting Location or 102-42 Page 9 Economic Performance Page 20 Emissions Page 18 - 23, 44 Diversity and equal opportunity Page 37, 45 GRI # Disclosure stakeholders response Financial implications Direct (Scope 1) GHG Diversity of governance Approach to stakeholder 305-1 Page 19, 44 405-1 Page 5, 37, 45 102-43 Page 9 and other risks and emissions bodies and employees General disclosures engagement 201-2 Page 20 opportunities due to Energy indirect (Scope 2) Key topics and concerns 305-2 Page 19, 40 Child labor Page 34 Tishman Speyer 102-44 Page 9, 10 climate change GHG emissions 102-1 Name of the organization raised Properties, L.P. Operations and suppliers Defining report content Procurement practices Page 33 305-4 GHG emissions intensity Page 19 Activities, brands, 102-46 Page 10 408-1 at significant risk for Page 34 102-2 Page 4 and topic boundaries Reduction of GHG products, and services 204-1 Procurement practices Page 33-34 305-5 Page 19, 21-22 incidents of child labor 102-47 List of material topics Page 10 emissions 102-3 Location of headquarters Page 47 Anti-Corruption Page 41 Forced or compulsory labor Page 34 Restatements of Effluents and waste Page 19, 44 102-4 Location of Operations Page 4 102-48 None information Operations assessed for Operations and suppliers 205-1 Page 41 Waste by type and Tishman 102-49 Changes in reporting Page 10 risks related to corruption 306-2 Page 19, 44 at significant risk for 102-5 Ownership and legal form Speyer is an S disposal method 409-1 Page 34 Communication and incidents of forced or Corporation. January 2017 - 102-50 Reporting period training about anti- Supplier environmental assessment Page 33 - 34 compulsory labor December 2018 205-2 Page 41 102-6 Markets served Page 4 corruption policies and 102-51 Date of most recent report 2016 New suppliers that Local communities Page 29 -32 102-7 Scale of the organization Page 4 procedures 102-52 Reporting cycle Biennial 308-1 were screened using Page 34 Operations with local Information on employees Materials Page 19 102-8 Page 45 environmental criteria community engagement, and other workers Contact point for 413-1 Page 29 - 32 102-53 questions regarding the Page 47 Recycled input materials Employment Page 45 impact assessments, and 301-2 Page 19 102-9 Supply chain Page 33-36 report used development programs New employee hires and Significant changes to the This report has 401-1 Page 45 Energy Page 12 - 17, 44 employee turnover Supplier social assessment Page 34 102-10 organization and its supply None been prepared Claims of reporting in chain in accordance New suppliers that were 102-54 accordance with the GRI Energy consumption Occupational health and safety Page 45 Precautionary Principle or with the GRI 302-1 Page 13, 44 414-1 screened using social Page 34 102-11 Page 20 Standards within the organization approach Standards: Core Types of injury and rates criteria 302-3 Energy intensity Page 13, 44 of injury, occupational 102-12 External Initiatives Page 7, 8, 41 option Reduction of energy 403-2 diseases, lost days, and Page 45 Public policy Page 41 Membership of 102-55 GRI content index Page 46 302-4 Page 13, 15-17, 44 102-13 Page 41 consumption absenteeism, and number associations 102-56 External assurance Page 43 415-1 Political contributions Page 41 Reductions in energy of work-related fatalities Key impacts, risks, and This report 102-14 Page 3 302-5 requirements of products Page 12-17, 44 Training and education Page 37 - 38 opportunities has not been 103-1 External assurance and services Values, principles, externally Programs for upgrading assured. Water Page 13, 44 employee skills and 102-16 standards, and norms of Page 41 404-2 Page 37 - 38 behavior Page references Water withdrawal by transition assistance are given next 303-1 Page 13, 44 programs 102-18 Governance structure Page 41 Explanation of material source 103-2 to the heading topic and its boundary Percentage of employees Executive-level of each material receiving regular responsibility for 404-3 Page 37 102-20 Page 41 topic performance and career economic, environmental, development reviews and social topics Page references are given next 102-40 List of stakeholder groups Page 9 103-3 Management approach to the heading Collective bargaining of each material 102-41 Page 45 agreements topic

Disclosures have been prepared in line with the Global Reporting Initiative (GRI) Sustainability Reporting Standards (2016)

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 46 Global Headquarters Tishman Speyer Rockefeller Center 45 Rockefeller Plaza New York, NY 10111

Phone: +1 212 715 0300 Fax: +1 212 319 1745 Email: [email protected]

TISHMAN SPEYER SUSTAINABILITY REPORT 5 PAGE 47