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Building a Better World, Together

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Building a Better World, Together Building a Better World, Together Retail Group 2020 ESG Report Table of contents PAGE CEO message 03 Who we are 04 Environmental 06 Social 20 Governance 32 Appendices 40 Cover photo: Oakbrook Center | Oak Brook, IL PAGE 02 CEO message We are proud to share our 2020 Environmental, Social, and Governance (ESG) Report. Despite the hardships endured last year, Brookfeld Properties' retail group remained dedicated to positively impacting our surrounding environments. Faced with property closures due to government mandates, our team created industry-leading and innovative plans, leading to the reopening of all assets. As a result of these eforts, 112 million square feet of retail space was recognized by the WELL Health-Safety Rating™, an evidence-based, third-party-verifed rating that signifes our commitment to the health and safety of our tenants, employees, and shoppers. The pandemic also placed a tremendous amount of stress on both local and national tenants across our portfolio. Our support for these partners was solidifed through more than $480 million in rent relief, adjusted operating hours to allow our retailers to better manage their workforces, and our Curbside Pickup program that allowed tenants to continue to operate under government restrictions. To best serve our local communities, our centers held more than 1,000 community events in 2020 and donated enough food to provide 600,000 meals to those in need. We provided vacant space to ofer free headshots to 10,000 unemployed workers and established 77 COVID-19 testing sites and 41 vaccination sites. These sites distributed 1.2 million COVID-19 vaccinations and counting across the country. During the past year we also made a more thoughtful commitment to investing time and resources in Diversity & Inclusion. We completed a search for and hired a full-time D&I Director and established a guiding framework. We also launched external-facing programs to build a diverse talent pipeline. This included our Accelerate internship program, in partnership with the City Colleges of Chicago, and our Partner to Empower initiative, pledging up to $25 million to grow Black- and minority-owned businesses across our portfolio. Finally, strong progress toward our 2022 sustainability goals was achieved by way of efcient “Brookfeld Properties' retail COVID-19 operations. In 2020, we reported a 44% reduction in Scope 1 and 2 Greenhouse Gas emissions, compared with 2014. We ranked 7th among all U.S. companies for on-site solar group has remained dedicated capacity and advanced our renewable footprint in 2020, transitioning all our centers in Virginia to procure of-site renewables. to positively impacting our We continue to look for opportunities to revolutionize retail, with ESG playing an integral part of this efort. It is our priority to do all that we can for the well-being of our customers, retailers, surrounding environments.” employees, communities, and stakeholders. Thank you, Jared Chupaila Chief Executive Ofcer Brookfeld Properties’ retail group Photo: Brookfeld Properties’ retail group headquarters | Chicago, IL PA G E 04 Who we are Properties 2 6 Brookfeld Properties' retail group develops and operates real estate 1 5 3 investments on behalf of Brookfeld Asset Management — one of the WA 4 largest alternative asset managers in the world. From ofce to retail, 2 ME 1 logistics to multifamily, hospitality, mixed-use, and development we MT ND work across sectors, bringing high-quality, sustainable real estate to life 1 MN 1 OR NHVT around the globe every day. This report is specifc to the performance of 2 1 3 3 Brookfeld Properties’ retail group. The terms “we,” “us,” and “our” may ID 1 NY MA 1 WI 1 2 SD also be used. 1 1 1 MI CT 1 RI 9 2 WY 2 2 3 4 2 1 8 1 6 7 3 2 5 3 10 4 4 9 4 6 1 1 IA PA 1 We’re an experience, a community, an environment that creates engaging 5 1 2 3 1 2 1 2 1 NJ 1 NE destinations for our guests and tenants. Our expansive portfolio comprises 1 2 NV OH MD 3 1 1 3 IN 18 12 DE more than 170 locations across 43 states and represents over 150 million 3 4 14 16 6 1 5 10 IL 1 17 1 2 UT 3 2 square feet of retail space — ranking us among the largest high-quality WV 3 5 CO 1 2 4 2 retail real estate companies in the United States. CA 2 VA 22 KS MO 3 4 KY 20 4 1 1 3 1 2 3 2 5 1 NC 8 21 1 1 TN 7 6 5 4 2 11 1 15 2 2 OK AZ 1 19 AR 2 SC 3 NM 1 5 13 1 6 7 1 ESG at Brookfeld Properties GA 4 2 1 MS AL 3 5 9 4 8 12 1 2 TX LA 3 At Brookfeld Properties' retail group, environmental, social, 2 4 1 9 3 11 2 and governance (ESG) principles are an integral component 13 4 1 3 1 10 of our long-term success. We take pride in incorporating 3 6 HI FL innovative practices and believe that using resources in a 4 6 2 7 responsible manner protects our shoppers, communities, 8 and the holistic environment for future generations. Our 5 sustainable practices aren’t pipe dreams — they’re proven — Regional Ofces and we’re continuing to lead the charge for the industry. Atlanta, GA Dallas, TX Chicago, IL Los Angeles, CA Columbia, MD New York, NY PPAPAGE A GG E 06 Environmental We aim to develop and operate properties achieving optimum resource efciency, occupant satisfaction, and reduced carbon emissions. By anticipating and understanding our long-term climate risks we create healthier environments for our communities, employees, and tenants. Photo: Solar array at Ala Moana Center | Honolulu, HI PA G E 08 2020 highlights #7 50M+ 77% among all U.S. square feet certifed increase in electric companies for on- to IREM’s Certifed vehicle charging site solar capacity Sustainable stations, compared Property program to 2019 112M 100% 11.7K+ square feet of retail of Virginia pounds of paper waste space achieved the properties switched saved by transitioning WELL Health-SafetyTM to procure of-site to electronic document Rating renewable energy signing with DocuSign® PA G E 1 0 2022 sustainability goals Common Area Electricity, 2014-2020 (Like for Like) We are proud of our progress toward our 2022 kWh sustainability goals, which set ambitious reduction 450,000,000 targets across our entire portfolio. 400,000,000 350,000,000 300,000,000 250,000,000 200,000,000 150,000,000 Reduce common area grid-purchased 100,000,000 electricity by 47.5%. 50,000,000 reduction 0 44% in 2020 2014 2015 2016 2017 2018 2019 2020 Greenhouse Gas Emissions, 2014-2020 (Like for Like) mtCO2e 250,000 200,000 Reduce controllable (Scope 1 150,000 and 2) greenhouse gas (GHG) 214,213 emissions by 40%. 194,145 171,254 153,624 147,472 100,000 139,321 reduction 111,169 44% in 2020 50,000 33,545 31,940 29,295 31,082 31,875 33,894 26,562 0 2014 2015 2016 2017 2018 2019 2020 Scope 1 Scope 2 All goals use 2014 as our baseline year for progress monitoring. Historical comparisons are made on a like-for-like basis. 2020 utility performance was afected by COVID-19, with the majority of properties closed for part of 2020. PAGE 12 2022 sustainability goals Water Consumption, 2014-2020 (Like-for-Like) kgal 3,000,000 We strive to make our operations as efficient 2,572,480 2,502,014 2,496,191 as possible and incorporate sustainable 2,382,219 2,500,000 2,293,394 2,292,993 practices into everything we do. 2,000,000 1,625,355 1,500,000 1,000,000 Reduce water consumption by 12%. 500,000 reduction in 2020 37% 0 2014 2015 2016 2017 2018 2019 2020 Breakdown of Waste Disposal By Type, 2020 2% Organics 11% 2% Waste to Energy11% Achieve an annual waste diversion rate of 50%. 30% 57% Recycling Landfill diversion 30% 57% 4 3% in 2020 PAGE 14 Solar Renewable energy in Virginia We continue to be leaders in solar development, investing in solar installations across our In 2020, our retail properties in Virginia were transitioned to source from 100% renewable portfolio to reduce our carbon footprint and generate positive financial savings. Some energy. This clean energy source, from a mix of renewable sources, removes over 28 million highlights include: kWh from the grid and over 10,000 metric tons of carbon dioxide equivalent (mtCO2e) from the atmosphere. This change not only advances our 2022 greenhouse gas emission reduction goal, but also reduces energy costs for our five properties in Virginia by around 10% annually. 52 65.6 70 #7 properties within megawatts million kilowatt among all U.S. the portfolio with of on-site hours of on-site companies for Brookfield Properties - Retail Location with Renewables completed solar solar capacity solar renewable on-site solar projects installed electricity in 2020 capacity* On-Site Renewables Off-Site Renewables Photo: Solar array at Northridge Fashion Center | Northridge, CA *Solar Energy Industries Association’s 2019 “Solar Means Business” report Powered by Bing, © GeoNames, HERE, MSFT PAGEPA G E 161 6 Each property implemented a value ranges from 1 to 16, with and surface contaminants such as customized reopening plan based higher MERV values corresponding viruses, volatile organic compounds on guidance from the Centers for to a greater percentage of particles (VOCs), and bacteria. Disease Control, local government captured on each pass.
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