Manulife US REIT-Sustainability Report 2020

With a firm belief in responsible investing, the Board strives to integrate the best Environmental, Social and Governance (ESG) practices into MUST’s operations and works closely with the Sustainability Steering Committee (SSC) to drive internal and external sustainability efforts. Pursuing Excellence In 2020, MUST maintained a leading ESG position with numerous accolades that were widely recognised in the industry. For the first time, the REIT submitted an assessment for the Global Real Estate Sustainability Benchmark (GRESB) at the Public Disclosure level, and received a rating of ‘A’, ranking 1 st out of 10 peers with a score of 96. MUST was also awarded 5 Star in its GRESB Real Estate Assessment, ranking 4 th out of 15 peers with a score of 88. For the third year running, the REIT retained its SGX Fast Track status, exemplifying the Board’s commitment to upholding high standards of corporate governance. In addition, MUST was ranked 4 th by the Governance Index for Trusts (GIFT) and 9 th by the Singapore Governance Transparency Index (SGTI) amongst 45 REITs and Business Trusts listed on the SGX-ST. MUST was included in the GPR LFFS Sustainable GRES Index this year, a European index launched in 2017 for institutional investors in the listed real estate sector. MUST remained in the iEdge SG ESG Leaders Index and iEdge SG ESG Transparency Index in 2020, proving its status as an ESG leader as the former includes companies ranked above the 25 th percentile within its global peer group. In 2020, MUST also achieved an ‘A’ in the MSCI ESG Ratings. Exceeding Goals Apart from receiving various accolades from the industry, MUST achieved the following targets for 2020 listed below. Incidents of Non-Compliance/Corruption Zero Water Intensity (L/sf) 31.7 Average Training per Employee (hours) 35.5 CSR Contribution (hours) 188.0 3.0 % YoY 36.6 % YoY 0.9 % YoY Energy Intensity (ekWh/sf) 11.8 CSR Contribution (S$) 25,964 GHG Intensity (kg CO 2 e/sf) 3.6 Participation in Employee Engagement Survey 100 % 30.7 % YoY 1.9 % YoY 23.2 % YoY 65 ANNUAL REPORT 2020 BOARD STATEMENT