Manulife US REIT-Sustainability Report 2019

MESSAGE TO STAKEHOLDERS Sustainable Properties MUST’s high-quality buildings exhibit eco-efficiencies and cost effectiveness that contributed to its financial and ESG performance. For FY2019, MUST recorded Year-On- Year (YoY) increases for Net Property Income (NPI) and Distribution per Unit (DPU) of 22.2% and 7.0% respectively. To minimise MUST’s environmental footprint, we worked closely with the Property Manager to execute numerous ESG initiatives targeting the reduction of energy and water consumption and Greenhouse Gas (GHG) emissions across the portfolio. We rolled out several programmes such as the Sustainability Building Standards to provide tenants and visitors alike with a consistent sustainability experience and other initiatives that will encourage sustainability as a way of life. The effectiveness of these initiatives is evident in that five of our properties are Leadership in Energy and Environmental Design (LEED™) certified - four LEED TM Gold and one, the most distinguished, LEED TM Platinum. In addition, the majority of our properties are ENERGY STAR ® certified having met rigorous energy performance standards established by the U.S. Environmental Protection Agency. To be eligible for an ENERGY STAR ® certification, properties are required to receive a score of at least 75.0% indicating that ENERGY STAR ® certified buildings such as MUST’s, are among the top 25 th percentile of similar properties for energy efficiency. Dear Stakeholders At MUST, we believe that to ensure the long-term success of our business, sustainability, as seen through the lens of strong ESG, will continue to be an integral part of MUST’s operations. We are pleased to present our 3 rd Sustainability Report which showcases the progress in our ESG journey in 2019. In 2019, we witnessed a surge in demand by investors for sustainable returns. To meet this growing call from investors, and following management’s own commitment to sustainability, we enhanced ESG practices across our operations whilst ensuring that the interests of our Unitholders were not compromised. Throughout the year, we reaffirmed MUST’s four main sustainability objectives. According to MSCI ESG Research, “ ESG investing is defined as the consideration of environmental, social and governance factors alongside financial factors in the investment decision-making process ” Sustainable Properties To create value for tenants by reducing the environmental impact of our properties and generating sustainable value for our Unitholders External Relations To understand and meet the needs of investment, tenant and local communities through regular and effective engagement initiatives Ethical Corporate Behaviour To ensure continued adherence to regulations through, the highest standards of governance and best practices by employing stringent corporate compliance and internal audit practices Human Capital To attract and retain talent by cultivating a positive work environment that focuses on diversity, equal opportunities, training, health and wellness 2019 SUSTAINABILITY REPORT 65

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