Manulife US REIT-Sustainability Report 2020

Sustainability Structure Collaborating with our Sponsor MUST is aligned to the goals of its Sponsor and Asset Manager, who is dedicated to the following key sustainability commitments: 1 Manulife Investment Management was recognised in the PRI Leaders’ Group 2020, a 10-year initiative honouring signatories at the cutting edge of responsible investment. This year, 36 signatories, including Manulife Investment Management, were recognised for demonstrating responsible invest- ment excellence in climate reporting throughout their organisation and portfolios. 2 Green Bonds are an instrument for issuers to raise funds for projects that have benefits to the environment. We are in regular communication with our Sponsor’s real estate team to manage the sustainability performance of our properties and ensure that MUST’s overall strategy and programmes are aligned to the Sponsor’s. We have also set up quarterly meetings involving the Head of Global Real Estate Sustainability, Manulife Investment Management, our Property Manager and the SSC to discuss MUST’s progress in its sustainability efforts. Working with our Property Manager Our Property Manager aims to provide healthy and efficient workspaces for tenants across MUST’s portfolio. In 2017, our Property Manager launched an internal Sustainable Building Standards outlining 13 sustainability focus areas to enable benchmarking and target setting for all of MUST’s properties: MUST’s properties are evaluated semi-annually based on these 13 focus areas on a scale of level 1 through 5, with all properties expected to achieve at least ‘level 3 - Strong sustainability practices, achievable for all office properties’ which they did. These standards are aligned to the commitments in the Sponsor's Real Estate Sustainability Framework, as well as industry best practices, including GRESB, LEED TM and BOMA BEST ® . Signatory to the Equator Principles and a member of the United Nations Environmental Programme Finance Initiative 2 3 Signatory to the United Nations-supported Principles for Responsible Investment (PRI) 1 Participated in the Carbon Disclosure Project Listed in the Dow Jones Sustainability Index First Life Insurance Company in the World to issue a Green Bond 2 in 2017 Published sustainability reports for several years (e.g. Manulife Financial Corporation Sustainability Report and Public Accountability Statement) 1 4 5 6 Environmental • Energy management and assessments • Energy measurement and analysis • Water management and assessments • Water management programme • Indoor environment quality • Alternative transportation Social • Health and wellness programming • Procurement programme and tracking • Tenant engagement • Community engagement • Employee engagement Governance • Certifications and sustainability brand • Sustainability management 69 ANNUAL REPORT 2020 SUSTAINABILITY APPROACH