Manulife US REIT-Sustainability Report 2020

Acquiring Sustainable Buildings At MUST, potential acquisitions are sourced by MUST’s Chief Investment Officer and our Asset Manager. The acquisition opportunities are then vetted by the Manager and presented to the Board for approval. By integrating ESG considerations in various stages of our acquisition process, we are able to ensure the continuity of MUST’s sustainable operations. In the initial screening of acquisition opportunities, we integrate ESG considerations to assess the sustainability performance and risks of the properties. The Manager then considers ESG metrics when vetting the assets to capture efficiency opportunities. Once approved, environmental and social sustainability risks and opportunities are identified in our due diligence process. Considerations such as contamination, energy performance, and tenant engagement programmes are checked by our specialists in the Engineering and Technical Services departments. In the final stages of the acquisition, a summary of ESG risks and strengths will be recorded to ensure MUST’s consistent sustainability performance. Once acquired, the new properties will be onboarded to our existing ESG programme. By integrating ESG in the entire acquisition process, we were able to ensure that MUST’s portfolio will continue to operate sustainably. Why is it important? • Understand high-level ESG performance and risks early • Communicate ESG information to Investment Committee Why is it important? • Ensure material ESG due diligence items are addressed • Include additional information in models and onboarding Why is it important? • Budget for ESG costs and savings in financial models • Capture efficiency opportunities Why is it important? • Summarise property ESG risks and strengths • Ensure consistent and thorough process Why is it important? • Share key information collected during investment process • Ensure effective transition into sustainability programme Initial Screening Initial Analysis/ Underwriting Approval Decision Due Diligence Finalise Deal Onboard Property 2 3 1 4 5 ESG in initial analysis Integrate ESG in budgets and financial models ESG in due diligence Investment ESG summary Onboarding properties to Manulife ESG programme Plaza, Secaucus 78 SUSTAINABILITY REPORT 2020 SUSTAINABLE PROPERTIES

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