CORPORATE RESPONSIBILITY REPORT INTRODUCTION AWARDS & ACCOLADES Named #2 Most “Leader in the Light” “A” LIST 2015, #1 Ranking in North Top 30 Sustainable 2014-2018 2016, 2018, 2019 American Retail On-Site Generation REIT 2019 Sector 2015-2019 Companies 2014-2019 BREEAM USA CERTIFIED PROPERTIES LEED® CERTIFIED DESIGNATIONS • Danbury Fair • LEED Gold • Deptford Mall Broadway Plaza • FlatIron Crossing • LEED Gold Santa Monica Place • Green Acres Mall • LEED Gold • Kierland Commons Tysons Corner Center • Kings Plaza Tysons Tower • Queens Center • LEED Silver • Scottsdale Fashion Square Tysons Corner Center • Twenty Ninth Street VITA • Tysons Corner Center • The Oaks MACERICH.COM PAGE 2 INTRODUCTION TABLE OF CONTENTS ABOUT THIS REPORT From Our CEO ..................................................................4 The Corporate Responsibility Report, reviewed by Corporate Overview ........................................................5 the CEO and Board of Directors, represents the Highlights ...........................................................................6 environmental, social and governance performance Core 30 ...............................................................................7 of The Macerich Company’s operations for the fiscal Environment ......................................................................8 year ending December 31, 2019. Unless otherwise Our Vision and Focus ................................................9 stated, all financial information presented in the Carbon Neutrality ..................................................... 12 report is in U.S. dollars. The company continues to Zero Waste ................................................................. 19 identify and prioritize sustainability issues, and to Increasing Active Engagement ............................22 develop necessary systems and targets to gauge Principled Practice .................................................. 24 performance and consistently gather data across Social ................................................................................. 31 our operations. This annual report discusses our Community ................................................................ 33 company’s environment, social and governance Philanthropic Efforts .............................................. 34 activities as well as our climate-related risks and Human Capital ........................................................... 41 opportunities. These discussions are aligned with Occupational Health & Safety ............................. 49 the reporting frameworks from the Global Reporting Governance ...................................................................... 51 Initiative (GRI), Task Force on Climate-Related Ethics and Politics ................................................... 54 Financial Disclosures (TCFD), and Sustainability Stakeholder Engagement ..................................... 70 Accounting Standards Board (SASB). A GRI index Materiality ........................................................................72 is included at the end of this report. For additional Appendix ..........................................................................73 sustainability and business information, please refer Global Reporting Initiative Index ........................80 to our CDP disclosure, Annual Report, Form 10-K and Proxy Statement. MACERICH.COM PAGE 3 INTRODUCTION FROM OUR CEO year Macerich made a number of strides toward key goals. The year 2020 is unfolding as no one could have expected - putting an even greater emphasis on the We have assembled stories and statistics that subject of corporate responsibility. People across the convey the scope of our dedication to environmental globe are responding to the persistent pandemic and sustainability, to quality of life for our employees its economic consequences, and here in the U.S. we and local communities, and to ensuring open and also are grappling with significant social and racial transparent corporate governance. justice issues. I’m proud of our past achievements, but even more All of this is shaping every part of our country, gratified by the ongoing holistic approach to our including how we conduct business and how we real estate business that also places a high value contribute to important changes in society. on people and the planet. Our strengths, including flexibility, optimism, open-mindedness, and a Macerich is a thoughtful and capable organization willingness to take a hard look at the hard things, that, in the fast-changing retail real estate industry, help prepare us for the challenges and opportunities is always ready to adapt, move forward and meet in our changing world. the moment. At the core of our mission is a strong commitment to operating in ways that also forward environmental goals, social good and sound corporate governance. Our track record through the end of 2019 is the Thomas E. O’Hern subject of this report, which includes a comprehensive review of the Environmental, Social and Governance (ESG) impacts that are integral to our company’s purpose and long-term performance. Over the last MACERICH.COM PAGE 4 INTRODUCTION CORPORATE OVERVIEW Located in attractive urban and suburban markets from New York to California, Macerich properties Macerich is a leading owner, operator and developer are dynamic town centers with spacious common of high-quality retail and mixed-use real estate in areas that bring together the very best retail, dining, the United States. Based in Santa Monica, we guide ticketed attractions, art experiences, high-end a carefully curated portfolio of 52 properties in fitness, plus hotels, offices and residences. many of the most desirable markets in the country. Metro Niagara Falls, NY San Francisco Fashion Outlets of Niagara Falls Walnut Creek Portland Saratoga Springs, NY Broadway Plaza Washington Square Wilton Mall Corte Madera Eugene Rosemont The Village Valley River Center Fashion Outlets of Chicago Danbury, CT at Corte Madera Danbury Fair Mall Davenport NorthPark Mall Greater Sacramento Des Moines New York Metro Arden Fair* Chicago Southridge Mall The Shops at North Bridge Boulder Moline Valley Stream, NY Modesto Twenty Ninth Street SouthPark Mall Green Acres Mall Vintage Faire Mall Broomfield Evansville FlatIron Crossing Eastland Mall Elmhurst, NY Fresno Kansas City Queens Center Fresno Fashion Fair Country Club Plaza Elizabethtown Brooklyn, NY Towne Mall Kings Plaza Glendale, NY Santa Barbara Harrisonburg The Shops at La Cumbre Plaza Valley Mall Atlas Park Ventura Tysons Corner Freehold, NJ Pacific View Tysons Corner Center Tucson Lubbock Freehold Raceway Mall La Encantada South Plains Mall Philadelphia Metro Metro Los Angeles Metro Phoenix Philadelphia, PA Cerritos Santa Monica Fashion District Los Cerritos Center Santa Monica Place Chandler Philadelphia Downey San Bernardino Chandler Fashion Center, The Boulevard Shops Deptford, NJ Stonewood Center Inland Center Deptford Mall Lakewood Thousand Oaks Gilbert Lakewood Center The Oaks SanTan Village Los Angeles Victorville Glendale Los Angeles The Mall of Victor Arrowhead Towne Center Premium Outlets Valley Mesa Superstition Springs Center Phoenix Biltmore Fashion Park, Desert Sky Mall, Paradise Valley Mall Scottsdale Kierland Commons, Scottsdale Fashion Square *Third Party Managed MACERICH.COM PAGE 5 INTRODUCTION HIGHLIGHTS 16,443,289 267 47.8M kWh of Solar EV Charging Stations kWh Clean Energy Energy Produced Across 31 Properties Produced Annually 356M 19 $35.4M 27+ MW Gallons of Water Fuel Cells Across Annual Operational Savings Clean Energy Portfolio Conserved Since 2014 6 Properties from Energy Efficiencies 47% 78M 39M+ Waste Diversion Gallons of Water Reduced Equivalent kWhs Reduced Rate from Landfill Year Over Year in 2019 Year Over Year in 2019 MACERICH.COM PAGE 6 INTRODUCTION CORE 30 Property LED Building ManagementFuel Cell SystemSolar Energy StorageEV Charging Water - FixturesSmart IrrigationCardboard RecyclingGreen Building Certification Arrowhead Towne Center , AZ n n n n n n Biltmore Fashion Park, AZ n n n n n n Broadway Plaza, CA n n n o n n n n Chandler Fashion Center, AZ n n n n n n Corte Madera, The Village at, CA n n n n Country Club Plaza, MO n n n Danbury Fair, CT n n n n n n n n Deptford Mall, NJ n n n n n n n Fashion Outlets of Chicago, IL n n n n n FlatIron Crossing, CO n n n n n n n n Freehold Raceway Mall, NJ n n n n n n Fresno Fashion Fair, CA n n n n n n n Green Acres Mall & Commons, NY n n n n n n Inland Center, CA n n n n n n n Kierland Commons, AZ n n n n n n n Kings Plaza, NY n o n n n La Encantada, AZ n n n n n Los Cerritos Center, CA n n n n n n n n n North Bridge, The Shops at, IL n n n n Oaks, The, CA n n n n n n n n Queens Center, NY n n n o n n n n Santa Monica Place, CA n n n n n n n n SanTan Village, AZ n n n n n n Scottsdale Fashion Square, AZ n n n n n n n Stonewood Center, CA n n n n n Twenty Ninth Street, CO n n n n n n n n Tysons Corner Center, VA n n o n n n Victor Valley, The Mall of, CA n n n n n Vintage Faire, CA n n n n n n Washington Square & Too, OR n n n n n n o Under Construction MACERICH.COM PAGE 7 E ENVIRONMENTAL SOCIAL GOVERNANCE MACERICH.COM PAGE 8 E ENVIRONMENTAL Sustainable art installation at Scottsdale Fashion Square, AZ COMMITTED TO THE It is as much a facet of who we are as our beautiful ENVIRONMENT properties that are dominant platforms for retailers and brands across the country. Macerich is the U.S. retail real estate industry’s With environmental gains fueling our work, Macerich