Manulife US REIT-Sustainability Report 2020

Reviewing MUST’s Environmental Performance Our sustainability approach has achieved significant performance improvements across our portfolio this year, with 23.2% reduction in energy intensity, 36.6% reduction in water intensity and 30.7% reduction in GHG intensity. These reductions can also be attributed to the lower physical occupancies of the properties due to COVID-19. Energy Consumption In our portfolio, eight out of nine properties in MUST’s portfolio are either LEED TM and/or ENERGY STAR ® certified, giving us a competitive advantage over similar buildings in our cities. We were able to translate the energy-efficiency of our buildings into cost savings for MUST. Some of the initiatives include replacing conventional lightbulbs with energy-efficient LED bulbs and installing waste diversion and recycling facilities in our properties. Overall, MUST’s portfolio recorded a 23.2% reduction in energy intensity in 2020. Water Consumption To ensure that our properties are resource-efficient, water is a key focus inour propertymanagement. Under our Sustainable Building Standards, water consumption is managed and 1 MUST has updated some of its building areas of measurement. Building areas now reflect some parking areas directly below the buildings, where applicable, and calculated in accordance with best practices. As such, the resource intensity data presented will see a difference from the previous years. 2 Energy intensity was calculated by total normalised energy consumption/total gross floor area. All years reporting energy intensity are normalised for weather only; and not occupancy due to the significant occupancy variations during the pandemic. 3 Water intensity was calculated by total water consumption/total gross floor area. 4 GHG intensity was calculated by total GHG emissions/total gross floor area. 5 MUST is currently in the midst of transitioning to the refreshed GRI 303: Water and Effluents 2018 standard. Enhancements to the Management Approach and data disclosure will be made in the next Sustainability Report. monitored with guidelines on the implementation of water- efficient strategies and implementation, such as fixtures and fittings. Across MUST’s properties, we use third-party water as well as reusing reclaimed water wherever possible 5 . Overall, MUST’s portfolio recorded a 36.6% reduction in water intensity in 2020. GHG Emissions We recognise the significance of climate change and seeks to reduce the amount of GHG emissions from its business operations. As described on page 76, even though MUST’s carbon emissions are monitored and reduced under our Sponsor’s efforts to reduce the footprint of all properties under Manulife Investment Management's real estate arm, we are working with the Sponsor in 2021 to further reduce our GHG emissions in the following year. Overall, MUST’s portfolio recorded a 30.7% reduction in GHG intensity in 2020. Environmental Efforts in Singapore In line with MUST’s environmental goals, the Manager launched various initiatives to minimise its environmental footprint in our Singapore office at Manulife Tower. This included the installation of a centralised automated sensor system to prevent unnecessary wastage of energy. The system is linked to the lights and air conditioners, switching these appliances off automatically after 7 pm on weekdays, 1 pm on Saturdays and the entire day on Sundays and public holidays. Recycling facilities for paper, plastic and cans are located in the lobby of Manulife Tower to cultivate environmentally friendly practices in the workplace. Our employees have also proactively set up a recycling corner in the office to collect all recyclables for weekly drop off at the recycling facilities. Employees are also encouraged to print only when necessary, using the double-sided setting on Forest Stewardship Certified (FSC) paper provided in the office. In 2020, as part of going green, the Manager obtained Unitholders' approval to issue its annual reports electronically. Comsumption/emissions 2020 2019 No. of Properties 9 7 Energy ('000 ekWh) 70,586.3 66,861.3 Water (m 3 ) 193,570.1 212,555.3 GHG (tonnes CO 2 e) 21,950.7 22,055.3 Intensity 1 2020 2019 Change (%) Energy 2 (ekWh/sf) 11.8 15.4 (23.2) Water 3 (L/sf) 31.7 50.0 (36.6) GHG 4 (kg CO 2 e/sf) 3.6 5.2 (30.7) 79 ANNUAL REPORT 2020

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