Legal & Important Disclosures

Pledge to Responsible Investing
As a leading owner, developer, operator and investment manager of real estate around the world, Tishman Speyer is committed to responsible investment. We define that as the integration of environmental, social, and governance considerations throughout our business, in the belief that such factors positively impact performance and drive value creation. Indeed, contributing to the development of vibrant, beautiful, and environmentally sound communities while adhering to the highest ethical standards is essential to our ongoing success, allowing us to unlock value and enhance returns for our investors while also doing right by our partners, customers, neighbors, suppliers, and employees.

Scope
This Responsible Investment Policy applies to Tishman Speyer globally, guiding management as it makes investments and conducts business.

Strategy
Tishman Speyer’s global ESG framework is outlined in its ESG Policy and applies to every stage of the investment analysis and decision-making process. Pre-acquisition, Tishman Speyer evaluates all real estate investment opportunities against a standard set of sustainability criteria that the firm has identified as material to its global real estate business.

Sustainability considerations that are identified and deemed material during the due diligence process are then included in a dedicated section in the Investment Memorandum. Investment Memorandums are completed in connection with every proposed new transaction and are submitted to the Investment Committee, the firm’s ultimate decision-making body.

Post-acquisition, Tishman Speyer’s Sustainability Department collaborates with various teams, including but not limited to Acquisitions, Development, Design and Construction, Procurement, Property Management, Asset Management, and Portfolio Management, to ensure that the firm’s global ESG framework is implemented at the asset-level.

Oversight
Tishman Speyer’s cross-functional, senior executive-level Global ESG Committee oversees the firm’s responsible investment strategy and is responsible for the governance of this policy. Accordingly, it is responsible for ensuring that Tishman Speyer’s ESG framework is appropriately resourced and is effective in satisfying the needs of stakeholders. The Global ESG Committee conducts regular reviews of the policy, at least annually, and delegates responsibility for enacting the firm’s responsible investment strategy to appropriate teams.

The Sustainability Department, which reports into the Global Head of ESG, a voting member of the Investment Committee, collaborates closely with all relevant departments and functions to ensure consistent implementation of the Responsible Investment Policy.

Objectives
Tishman Speyer seeks to understand and manage the short-, mid-, and long-term risks associated with changing regulatory, legislative, and stakeholder requirements, as well as risks related to climate change resilience, including physical, social, and transition risks across its global real estate portfolio. Our responsible investment objectives include:

Pre-acquisition

• • Conducting asset-level due diligence in order to understand risks and opportunities related to environmental, social and governance areas, and use material findings to inform investment decisions;

• • Identifying, assessing and managing climate-related physical and transition risks and opportunities and associated financial impacts for every potential investment opportunity;

• • Proactively and iteratively incorporating best-in-class, innovative practices to mitigate environmental and social risks in each investment’s business plan.

Post-acquisition

• • Operating in alignment with best practice sustainability guidelines, consistent with the United Nations’ Sustainable Development Goals (SDGs), in part by monitoring energy, water, and waste, as well as the associated greenhouse gas emissions;

• • Striving to certify all new office developments to a minimum standard of LEED Gold or BREEAM Excellent and all eligible operating properties to the appropriate operational standards;

• • Ensuring the effectiveness of our buildings as positive places to work, visit, and live by enhancing health and wellbeing performance to boost productivity, minimize work-related sickness, and reduce the prevalence of mental health issues.

• • Mitigating climate-related physical and transition risks by identifying and implementing resiliency measures into business plans.

Stewardship
Tishman Speyer recognizes the value of collective action and prioritizes collaborative stewardship wherever possible. We aim to exert wider influence across our stakeholders to promote the transition to net zero carbon, conservation, biodiversity, occupier and community safety and wellbeing, responsible procurement, equality and other ESG aims within the real estate industry through the following activities:

• • Collaborating with industry organizations on responsible investment practices and other ESG issues to identify best practices and solutions;

• • Sharing Tishman Speyer’s ESG philosophy with other industry participants to act as a thought partner in the global advancement of responsible investment;

• • Communicating key findings, successes, and goals to our stakeholders, which include customers, employees, investors, communities and governments, while seeking and listening to their key understandings, wants, and needs.