CORPORATE SUSTAINABILITY HIGHLIGHTS · the next reporting year, our goal is to embrace a more integrated management approach to Morguard’s Corporate Sustainability and Responsibility

TAKING ACTION FOR OUR COMMUNITIES

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9 CORPORATESUSTAINABILITY HIGHLIGHTS

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This report summarizes achievements and profiles specific initiatives and properties. Morguard also publishes a separate 2019 Sustainability Report, which is prepared in accordance with the Core option of the 2019 Global Reporting Initiative (“GRI”) Standard sustainability reporting guidelines, including the Construction and Real Estate Sector Supplement (“CRESS”). This report, once issued, can be found at www.morguard.com.

All information is presented as at December 31, 2019, unless otherwise indicated.

FELLOW STAKEHOLDERS

At Morguard, sustainability continued to be a strategic priority through 2019. Our commitment to the environment is

demonstrated by incorporating sustainable best practices throughout our organization and involving our stakeholders at

all levels. Sustainable Morguard is our company-wide sustainability program that structures our efforts and directs our

actions on environmental, social and governance (ESG) strategies as well as on the performance of our properties.

As part of our corporate strategy, Sustainable Morguard and its related initiatives are integrated into our core values

that drive current business objectives, while also protecting the needs of future business opportunities, our environment,

our communities and our investors. Our ESG initiatives are leveraged enterprise-wide to identify opportunities and

expand the program.

Today, the program’s success is due in part to decreases in energy and water use, on-going green building certifications

and improved reporting transparency. Success does not come without some challenges. Extending our green building

certifications across our portfolio has been multifaceted and an area that requires improvement in 2020. Moving into

the next reporting year, our goal is to embrace a more integrated management approach to Morguard’s Corporate

Sustainability and Responsibility strategy and align operational efficiency with our climate change efforts. As a major

real estate organization in North America, we take this commitment seriously, not only for the health and wellbeing of

the communities we serve, but as a way of nurturing long-term value for our shareholders, clients, tenants and employees.

During 2019 Morguard’s employees, residents and tenants made important contributions to the communities where they

live and work. And as a result, we continue to receive recognition for our achievements, including building quality and

design, and an outstanding record of health and safety. I want to thank everyone for their passion and commitment to

Sustainable Morguard. You are making a positive impact by taking action every day.

Sincerely,

K. RAI SAHI Chairman and Chief Executive Officer

Morguard Corporation

Sustainable Morguard takes decisive action on the one thing that affects us all: our environment. We are committed to minimizing our environmental impact. As a real estate industry leader with properties located throughout North America, our commitment to sustainability comes from our belief in environmental stewardship as a philosophy, and our understanding that

ADVOCACY

BELIEF

COMMITMENT

contributing to our community directly creates value in our properties. We work alongside our network of employees, management, key users, suppliers, tenants and external sustainability partners to create positive change, make a tangible difference, and help to make a sustainable society now and for the future.

COMMUNITY

PASSION

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WE ARESUSTAINABLEREAL ESTATE ADVOCATES

Our planet. Our business. We believe environmental stewardship is essential for the health

of both. We speak from experience – we have seen that by making meaningful contributions

to our communities, we directly create greater value in our properties. Real estate is an integral

part not just of our society – where we live, work and shop – but of the environment in which

we all live. Through Sustainable Morguard, we are implementing innovative initiatives in all

aspects of our business.

Sustainable Morguard involves all our stakeholders – shareholders, tenants and

employees alike. A company-wide program, it’s a structured approach to environmental,

social and governance efforts that include:

• decreasing energy and water use

• reducing waste and emissions

• creating excellence in energy and environmental management to achieve green

building certifications

• collecting consistent data that tracks and validates our performance

• transparency in reporting

• driving new sustainability ideas and policies

MORGUARD SUMMARY OF PERFORMANCE FOR 2019

7.9%

LESS ENERGY USAGE

8.5%

LESS GREENHOUSE GAS EMISSIONS

5.4%

LESS WATER USAGE

1.3%

INCREASE IN WASTE DIVERSION RATE

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SUSTAINABILITY IN ACTION

Green design and operations. In the heart

of downtown Chicago, three Morguard

properties are making their mark for

sustainability. Alta at K Station and Coast

at Lakeshore East are LEED® certified and

have incorporated green roofs into their

design and operations, diverting rainwater

into catch basins for landscape irrigation.

Marquee at Block 37 is LEED® certified

and received the Development of the

Year Award from the 29th Annual Chicago

Commercial Real Estate Awards. Each of

these properties employs a recycling

program for its residents.

FOR MORE INFORMATION SEE OUR 2019 CORPORATE SUSTAINABILITY REPORT

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Diverting waste from landfills. A multi-tenant space

in the Beltline region of Calgary, 11th Avenue Place

is 30% more energy efficient than conventionally

designed buildings. Morguard has undertaken

several green initiatives for the property, including

lower energy consumption, a healthier and more

efficient work environment, low-flow water fixtures,

high-efficiency lighting and HVAC equipment, and

improved indoor air quality. The property achieved

a waste diversion rate of 70% in 2019.



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WE BELIEVE IN CREATING SUSTAINABLE BUSINESS RETURNS

As advocates for sustainable business practices within the real estate industry, we support

our industry partners, promoting our own sustainability successes. Our goal – to create

positive change throughout our industry.

We see sustainability as a highly effective means to mitigate significant risks and increase

value at the same time. A strategic, responsible approach to sustainability is essential to

maintaining the long-term value of Morguard’s assets under management.

We focus on responsible property investment (“RPI”) and environmental, social and

governance (“ESG”) matters in many areas of our business. When we invest, we address

ESG risks and opportunities associated with owning and managing real property. When we

investigate a potential property acquisition, we perform comprehensive financial, physical

and environmental analysis – a range of environmental indicators that could contribute to risk,

efficiency, returns and value. Our goal is to improve our environmental risk analysis and add

value to our real estate assets.

FIRST 5 YEARS OF CANADIAN OFFICE AND RETAIL REDUCTIONS (2010–2015)

14%

LESS ENERGY USAGE

24%

LESS GREENHOUSE GAS EMISSIONS

19%

LESS WATER USAGE

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OFFICE1 RETAIL1 MULTI-SUITE RESIDENTIAL

2015 2019 Change 2015 2019 Change 2015 2019 Change

Energy Consumption (In millions of ekWh) 304.4 289.1 -5.0% 203.1 178.1 -12.3% 236.5 229.4 -3.0%

Energy Intensity (ekWh/SF/yr) 32.3 30.6 -5.0% 15.6 13.6 -12.3% 37.6 36.5 -3.0%

Greenhouse Gas Emissions (In thousands of tCO2e) 55.6 50.3 -9.5% 45.6 42.2 -7.3% 38.5 35.2 -8.8%

GHG Intensity (tCO2e/1000 SF/yr) 5.9 5.3 -9.5% 3.5 3.2 -7.3% – – –

Water Consumption (In thousands of m3) 570.9 525.3 -8.0% 1,108.1 1,062.3 -4.1% 1,869.3 1,914.1 2.4%

Water Intensity (L/SF/yr) 70.4 64.7 -8.0% 89.4 85.7 -4.1% 275.2 281.8 2.4%

Percentage of Total Waste Recycled 53.7% 46.1% -7.6% 50.6% 55% 4.4% – – –

Our building performance 2019

Sustainable Morguard continued to help us achieve significant reductions in energy usage,

greenhouse gas emissions, and water usage across our entire portfolio of office, retail and

multi-suite residential properties.

1 Weather- and occupancy-adjusted. The energy performance data is based on actual metered energy use. The associated energy-related greenhouse gas emissions are

derived using the most recent (2017) emissions factors as provided by Environment Canada, Greenhouse Gas Division, National Inventory Report.

2019 PERFORMANCE BY CANADIAN ASSET CLASS TABLE

RETAIL RESIDENTIAL TOTAL

2018 2019 Change 2018 2019 Change 2018 2019 Change

Electricity Consumption (In millions of ekWh) 6.9 5.7 -18.0% 17.4 16.6 -4.8% 24.4 22.3 -8.5%

2019 PERFORMANCE BY U.S. ASSET CLASS

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Morguard head office is on the global

sustainability map. The office buildings at 33,

55, 77 and 201 City Centre Drive make up the

Mississauga City Centre office complex, home to

Morguard’s head office and other major tenants.

Built in 1972, the complex has undergone many

innovative sustainability programs and green-

focused retrofits. In recognition of these efforts,

BOMA awarded the complex with The Outstanding

Building of the Year (“TOBY”) award in 2019,

also qualifying it to join the 2020 BOMA

International Awards nominees.



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Committed to multi-purpose impact. Up to 10 million

tons of corporate waste in North America end up in

landfills each year. To combat this alarming amount,

Morguard first partnered with Green Standards in 2014.

Since then, the partnership has resulted in diverting

the equivalent to reducing gasoline consumption by

21,726 gallons, growing 4,966 tree seedlings for 10 years

and offsetting electricity use from 27 homes for one

year. Local schools, churches and Habitat for Humanity

in Quebec have been beneficiaries of the diversion.


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TOTAL ENERGY CONSUMPTION1

In millions of ekWh

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WE ARESUSTAINABLE BUILDINGOPERATORS

We work with our tenants to employ innovative solutions that simultaneously reduce costs as

well as our environmental footprint. The benefits are threefold: lower costs for tenants overall;

improved health, safety and welfare of employees, tenants and communities; and stronger

financial performance for the benefit of investors, tenants and shareholders. Altogether, it

enables us to deliver positive returns, provide better tenant experiences, and protect or

enhance portfolio value.

We’re committed to meeting our goals, and we take a number of steps to ensure we do such as:

• Monitoring our compliance with relevant environmental legislation.

• Identifying potential risks and implementing new policies and procedures with our

environmental management system comprising legislative compliance, best practices and

employee training.

• Employing ENVIRO LINK, our web portal that captures environmental work and assessments

performed at Morguard properties.

Green Link

Our proprietary GREEN LINK program, used by most of our commercial properties, targets

resource efficiency, waste reduction, interior environment quality and value creation. It requires

energy, waste and water audits and presents cost-saving initiatives such as lighting retrofits

and water use reductions. It also ensures that properties implement best practices for

long-term cost and risk reductions, enhanced tenant engagement and communication,

and additional external green building certification.

1 Weather- and occupancy-adjusted. The energy performance data is based on actual metered energy use. The associated energy-related greenhouse gas emissions are derived using the most recent (2017) emissions factors as provided by Environment Canada, Greenhouse Gas Division, National Inventory Report.

7.9%

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TOTAL GREENHOUSE GAS EMISSIONSIn thousands of tCO2e

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8.5%

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2019 PERFORMANCE CANADIAN OFFICE AND RETAIL1

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Tenant engagement

A Morguard lease typically includes green provisions to initiate a dialogue with tenants about

our shared efficiency objectives. Our goal is to increase our use of green provisions to meet

evolving industry best practices and our tenants’ needs. To engage tenants with sustainability

issues, Morguard uses property-level tenant satisfaction surveys that are conducted every

three years in conjunction with our BOMA BEST certification program. Survey results

have consistently shown that tenants expect a rigorous sustainability program from their

property management.

Energy Star Portfolio Manager

Energy Star benchmarks properties using a national standard that prioritizes necessary

capital upgrades and operational improvements. We successfully piloted the program in 2015.

At the end of 2019, 178 of our managed Canadian office, retail, industrial, hotel and

multi-residential properties, and U.S. multi-residential properties were participating in the

Energy Star Portfolio Manager program. Of those, 28 had an Energy Star score of 75 or

higher, which qualifies them for certification. During 2019, certification was completed

on seven properties.

51.5

52.9

TOTAL WASTE RECYCLEDPercentage

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1.3%

1,679

1,5

88

TOTAL WATER CONSUMPTIONIn thousands of m3

15 19

5.4%

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2019 PERFORMANCE CANADIAN OFFICE AND RETAIL

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13 12LEED

52BOMA

31EQUAL HOUSING OPPORTUNITY

19CERTIFIED RENTAL BUILDING PROGRAM

33GREEN KEY

MULTI-SUITE RESIDENTIAL

4LEED

19CERTIFIED RENTAL BUILDING PROGRAM

OFFICE

7LEED

33BOMA

7ENERGY STAR

2BULLFROG POWERED

RETAIL

17BOMA

HOTEL

33GREEN KEY

INDUSTRIAL

1LEED

UNIVERSAL

2BOMA

300TOTAL PROPERTIES IN SUSTAINABLE MORGUARD


Our sustainable buildings 2019.

By managing and operating efficient

buildings, we not only contribute

to the communities we serve, we

help improve long-term investment

performance, creating greater value

for our stakeholders.

CERTIFICATIONS AND COMPLIANCE ACROSS NORTH AMERICA

CERTIFICATIONS AND COMPLIANCE BY ASSET CLASS

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Bee-ing the change. Morguard recognizes

that bees are a critical part of the

ecosystem and, thanks to a partnership

with Alveole, is actively including them

in its sustainability efforts. Beehives,

naturalized gardens and bee-hotels have

been incorporated into twelve Morguard-

managed properties to help positively

impact the environment in the surrounding

neighbourhoods. In 2019, honey produced

at Bramalea City Centre was sold with

proceeds going to the Brampton Civic

Hospital, and was also gifted to suppliers,

staff and retailers.


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WE ARESUSTAINABLE DEVELOPERS

The United Nations Environment Programme reports that buildings use about 40% of global

energy, 25% of global water and 40% of global resources and emit approximately 33% of all

greenhouse gas. Morguard is committed to reducing the environmental impact of our buildings

through a number of initiatives.

Morguard implements sustainable initiatives in every new development with the goal of

delivering meaningful services and amenities to the surrounding community. We also focus on

enhancing the performance and competitiveness of our existing portfolio to meet the highest

standards of environmental sustainability. We undertake green retrofit programs. And we work

with government authorities to incorporate and encourage transit-oriented projects throughout

North America.

Additionally, we continually seek to overcome many complex challenges to deliver best-in-

class real estate solutions, while creating greater value for our portfolio. The social benefits

and impact of these initiatives is clear, returning immense value to Morguard shareholders

and clients and creating a portfolio that is socially conscious and financially sound.

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WE EMPOWEROUR PEOPLE

Sustainability is about more than just properties and the environment. It’s also about people.

Our people drive our business. We strive to create a workplace culture of respect, inclusion,

health, safety and equal opportunity. By empowering our people, we believe we can attract,

retain and engage the high-quality talent needed to drive business success and ultimately

achieve a sustainable company.

Our mandate is to ensure our people are engaged and productive, to hire and retain top talent,

and ensure that we value and create value for our employees. To meet the changing needs of

sustainable Human Capital Management (“HCM”) and continue to best support our people,

we are undertaking a corporate project to replace our existing HCM system. This will provide

full visibility to global key performance indicators that support growth and proper management

of our team. It’s an integral part of our people-focused strategy of finding and developing

the right leaders, embracing diversity and creating value for our people.

Our Code of Business Conduct addresses matters of equal opportunity and workplace

harassment. A concern for personal dignity and the individual worth of each person is an

indispensable element of the standards established under our Code. Morguard provides

equal employment opportunity to all qualified persons.

Morguard is committed to providing quality service to employees; to treat all individuals with

respect and individual attention; to encourage a culture and workplace where employees can

grow and take pride in their achievements. We offer programs to support this vision including

employee wellness, performance management, and learning and development.

Male47%

Female53%

2019

GENDER DIVERSITY

2018 2019

Non-Management Management Total Non-Management Management Total

Total employees eligible for training1 994 289 1,283 1,059 302 1,361

Training Hours by Employee Category

Total training hours per employee category 9,798 4,700 14,498 12,539 4,436 16,975

Training hours per user 9.86 16.26 11.30 11.84 14.69 12.47

Total Training Hours by Training Type

eLearning 4,019 1,324 5,343 8,374 2,297 10,671

Self-learning (user documentation and videos) 193 58 251 765 377 1,142

Class/WebEx-powered sessions 3,338 2,824 6,162 1,331 1,008 2,339

External 2,249 494 2,743 2,071 754 2,825

Total Training Hours by Subject

Morguard processes and tools 3,933 2,705 6,638 2,688 1,783 4,471

Compliance 3,010 1,035 4,044 7,189 1,770 8,959

Desktop productivity 108 28 136 24 10 34

Other soft and technical skills 2,675 913 3,587 2,638 873 3,511

TRAINING AND PROFESSIONAL DEVELOPMENT

1 Represents an average number of employees in Canada who are eligible for access to the Morguard Learning Management System. (Temporary employees who are with us on a term less than six months are excluded.)

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Becoming positive role models – BeYou. For a fourth

consecutive year, 19 Morguard shopping centres participated

in BeYou, a campaign designed to empower young women.

Created in collaboration with Big Brothers Big Sisters,

BeYou provides access to personal and professional

development tools through specialized programming and

mentorship. While BeYou’s free activities and events take

place one week each year at Morguard properties, several

Morguard team members participate in its ongoing

mentoring program, providing young women with positive

experiences that last a lifetime.


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Yorkville 5K Run. In September 2019, Morguard was a proud

sponsor of the annual Yorkville Run in downtown Toronto.

This premier 5K race brings together local runners and

businesses to help fund small neighbourhood charities,

with more dollars being raised per participant than any

other charity race in Canada. Over the past 10 years,

the event has raised more than $2.6 million for charities,

which benefit from 100% of the funds raised.


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WE SUPPORT OUR COMMUNITIES

We strive to improve our local communities either by reducing the impact of our

developments or through localized philanthropy. We see it not only as our responsibility,

but as good business. Our employees’ community-building efforts have helped mitigate

related risks, reduce costs and, ultimately, ensure our properties remain valuable to their

respective communities.

WE LEAD BY EXAMPLE

As a landlord and a tenant, we strive to “walk the walk” in our corporate offices first, inspiring

our stakeholders to join us. We regularly pilot innovative sustainability initiatives in our own

offices before applying them in tenant spaces. And as a corporation, we demonstrate our

commitment to sustainability through compliance in environmental affairs and implementation

of responsible governance practices.

OCCUPATIONAL HEALTH AND SAFETY1

2018 2019

Lost-time Injury Rates2

Lost-time injury rate per 100 employees (Canada & U.S.) 1.2 1.4

Lost-time injury rate per 100 employees (Canada) 0.9 1.1

Lost-time injury rate per 100 employees (U.S.) 2.7 2.7

Lost Work Days

Total number of lost work days (Canada & U.S.) 115 399

Total number of lost work days (Canada) 72 335

Total number of lost work days (U.S.) 43 64

Reported Workplace Injuries

Total reported workplace injuries that involve lost employee time (Canada & U.S.) 18 20

Total reported workplace injuries that involve lost employee time (Canada) 11 13

Total reported workplace injuries that involve lost employee time (U.S.) 7 7

Workplace Fatalities

Workplace fatalities (Canada & U.S.) 0 0

Employee Numbers (for calculation)

Total employees (Canada) 1,214 1,164

Total employees (U.S.) 254 255

Total employees (Canada & U.S.) 1,468 1,419

1 The number of employees used for OH&S calculations is based on total employees. Excludes hotel division.

2 For calculating injury rates, 200,000 represents the total number of hours worked by 100 employees in one year, based on 50 work weeks at 40 hours per 2,000 total hours per employee.

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We actively work to reduce the environmental impacts of operations at our 13 corporate

offices across Canada and the U.S. By engaging our employees to do their part, they in turn

use the lessons learned to engage our tenants to make improvements. For example, we have

reduced our offices’ use of consumable supplies, kitchen and cleaning materials, catering and

composting as well as using refillable water cooler systems. Wherever possible, we use 100%

biodegradable items, locally sourced organic food for catering, and recyclable materials.

And we recently introduced a Sustainability Committee to help ensure we stay green.

Our environmental management system

For all Morguard properties, we monitor environmental compliance, identify potential risks,

and implement environmental policies and procedures using our Environmental Management

System (“EMS”). Our EMS incorporates policies, procedures and reporting related to

environmental legislative compliance, best practices and employee training. It’s tailored

to issues regarding PCBs, asbestos, CFCs, mould, storage tanks, tenant relations and

incident reporting.

A key component of our EMS is ENVIRO LINK – a web-based portal that is used to track all

work and assessments completed at every Morguard property by property management, our

Environmental Affairs group and third-party consultants.

Land contamination, remediation and compliance

Morguard believes in environmental compliance and best practices in safe land remediation,

the removal or treatment of toxic materials and hazardous waste, and the restoration of

natural environments. We commit significant resources to ensure that environmental matters

meet legislative compliance and the needs of our tenants, clients and community. In 2019,

the operating budget for our internal environmental team was approximately $1.14 million.

We take a precautionary approach to our sustainability activities. Where there are threats of

serious or irreversible damage, a lack of full scientific certainty will not be used as a reason

for postponing cost-effective measures to prevent environmental degradation or public harm.

We believe that taking this kind of active responsibility is vital to achieving sustainability. It

adds value to our properties, ensures that employees and tenants are safe, and demonstrates

a commitment to being a leading property manager. Our goal in leading by example is to

inspire others to join us on our sustainability journey.

WORKING WITH ORGANIZATIONS DEDICATED TO SUSTAINABILITY

HOOPP Leadership in Environmental Advancement Program (LEAP)

TD Greystone Real Estate Strategy

Canadian Green Building Council

United States Green Building Council

Corporate Real Estate Sustainability Leaders Roundtable

Building Owners and Managers Association

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Inspiration for healthy eating and upcycling. In 2019,

Morguard partnered with its Shoppers Mall tenant,

DAVIDsTEA in Brandon, Manitoba, to showcase how

upcycling old retail items can be a fun and sustainable

way to encourage healthy eating habits. Old tea tins

were collected and used as pots to plant fresh basil.

In addition to taking home their new basil plants to

be used for healthy home cooking, participants also

received a free cup of tea and were entered for a

chance to win a $100 Shoppers Mall gift card.



BUILDING AWARDS AND PROPERTY CERTIFICATIONS

Building Owners and Managers Association (BOMA)The largest environmental assessment and certification program in Canada, BOMA

offers owners and managers a consistent framework for assessing the environmental

performance and management of existing buildings.

Leadership in Energy and Environmental Design (LEED)Used throughout the world, LEED sets the standard for green buildings with a rating system

that establishes a framework for healthy, highly efficient and cost-saving green environments.

Certified Rental Building Program (CRBP)The Certified Rental Building Program helps assure tenants they are renting from landlords of

professionally run, well-managed buildings, with a commitment to creating greener communities.

Equal Housing Opportunity (EHO)Morguard is committed to following the guidelines of The Office of Fair Housing and Equal

Opportunity by providing equal housing opportunities for all persons regardless of race, colour,

religion, sex, national origin, disability and familial status.

Green KeyThe Green Key Eco-Rating Program recognizes hotels and lodging facilities for their commitment

to cost-effective environmental sustainability.

2015 and 2019 building performance results (BPR)

• Property included • Property excluded

CANADA COMPLIANCE/ BPR PROPERTY CERTIFICATIONS PROV. OWNERSHIP

• The Pinnacle – AB 3rd Party

• Wyldewood Estates – AB 3rd Party

• Mayfair Village South – AB MRC

• Square 104 – AB MRG

• Margaret Place CRBP ON MRG

• Aspen Grove I CRBP ON MRC/3rd Party

• Aspen Grove II CRBP ON MRC/3rd Party

• Meadowvale Gardens CRBP ON MRG

• The Arista CRBP ON MRG

• The Elmwoods CRBP ON MRG

• The Forestwoods CRBP ON MRG/3rd Party

• The Maplewoods CRBP ON MRG/3rd Party

• The Valleywoods CRBP ON MRG/3rd Party

• Tomken Place CRBP ON MRG

• 126 Sparks – ON MRC

• 160 Chapel CRBP ON MRG

• Fifty on the Park CRBP ON 3rd Party

• Leaside Towers CRBP ON MRC

• Rideau Towers I CRBP ON MRG/3rd Party

• Rideau Towers II CRBP ON MRG

• Rideau Towers III CRBP ON MRG

• Rideau Towers IV CRBP ON MRG

• Rouge Valley Residence – ON MRG

• The Bay Club CRBP ON MRC

• The Colonnade CRBP ON MRC

• The Heathview LEED Gold, ON MRC LEED Pending

U.S. COMPLIANCE/ BPR PROPERTY CERTIFICATIONS STATE OWNERSHIP

• Sunset & Gordon EHO CA MRC

• Retreat at City Center EHO CO MRG

U.S. (CONTINUED)

COMPLIANCE/ BPR PROPERTY CERTIFICATIONS STATE OWNERSHIP

• Settlers’ Creek EHO CO MRG

• The Retreat at Spring Park EHO TX MRG

• Grand Venetian at Las Colinas EHO TX MRG

• Verandah at Valley Ranch EHO TX MRG

• The Georgian Apartments EHO LA MRG

• Greenbrier Estates EHO LA MRG

• Alta at K Station EHO, LEED Gold IL MRC

• Coast at Lakeshore East EHO, LEED Silver IL MRG

• Marquee at Block 37 EHO, IL MRC/MRG LEED Certified

• Briarhill Apartments EHO GA MRG

• The Savoy Luxury Apartments EHO GA MRG

• Barrett Walk Luxury EHO GA MRG Apartment Homes

• 210 Watermark EHO FL MRG

• Santorini Apartments EHO FL MRC

• Vizcaya Lakes EHO FL MRC

• Blue Isle Apartment Homes EHO FL MRG

• 2940 Solano at Monterra EHO FL MRG/3rd Party

• Emerald Lake Apartments EHO FL MRC

• Governors Gate I EHO FL MRG

• Governors Gate II EHO FL MRG

• Jamestown Estates EHO FL MRG

• Woodcliff Apartment Homes EHO FL MRG

• Woodbine Apartment Homes EHO FL MRG

• Mallory Square EHO FL MRG

• Village Crossing EHO FL MRG Apartment Homes

• The Lodge at Crossroads EHO NC MRG

• Perry Point EHO NC MRG Ultimate Apartments

• Northgate at Falls Church EHO VA MRG

• The Fenestra at Rockville Town Square EHO MD MRC/MRG

MULTI-SUITE RESIDENTIAL


• Sevenoaks Shopping Centre BOMA Gold BC 3rd Party

• Coquitlam Shopping Centre BOMA Certified BC 3rd Party

• Pine Centre Mall BOMA Gold BC MRT

• Shelbourne Plaza – BC MRT

• Airdrie Co-op Centre – AB MRT

• Heritage Towne Centre – AB MRT

• Bonnie Doon Shopping Centre BOMA Silver AB 3rd Party

• Prairie Mall BOMA Pending AB MRC/MRT

• Parkland Mall BOMA Certified AB MRT

• The Centre BOMA Certified SK MRT

• Lawson Heights BOMA Silver SK 3rd Party

• Shoppers Mall BOMA Gold MB MRT

CANADA (CONTINUED)

COMPLIANCE/ BPR PROPERTY CERTIFICATIONS PROV. OWNERSHIP

• Charleswood Centre – MB MRT

• Crossroads Station – MB 3rd Party Shopping Centre

• Southdale Centre – MB MRT

• Aurora Centre – ON MRT

• Bramalea City Centre BOMA Platinum ON MRC/3rd Party

• Cambridge Centre BOMA Gold ON MRT

• Market Square – ON MRT

• Wonderland Corners – ON MRT

• Kingsbury Centre – ON MRT

• Northgate Shopping Centre BOMA Gold ON 3rd Party

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RETAIL (CONTINUED) CANADA (CONTINUED)


• Hampton Park Plaza – ON MRT

• St. Laurent BOMA Gold ON MRT

• New Sudbury Centre HOOPP LEAP, ON 3rd Party BOMA Gold

• Intercity Centre BOMA Gold ON 3rd Party

• Centerpoint Mall BOMA Silver ON MRC

• East York Town Centre BOMA Bronze ON MRC

• Guildwood Village – ON MRC Shopping Centre

• Holt Renfrew Centre BOMA Platinum ON 3rd Party

• The Colonnade – ON MRC

• Woodbridge Square – ON MRT/3rd Party

• Place Rosemere BOMA Gold QC 3rd Party


• Gonzales Plaza – LA MRC

• Southland Mall – LA MRC

• Airline Park Shopping Center – LA MRC

• North Shore Square – LA MRC

• Alta at K Station LEED Gold IL MRC

• Weeki Wachee Village – FL MRC

• Rainbow Square – FL MRC

• Florida Shores Plaza – FL MRC

• Lantana Plaza – FL MRC

• Town & Country – FL MRC Shopping Center

• Westward Shopping Center – FL MRC


• 111 Dunsmuir BOMA Platinum BC MRT

• Chancery Place BOMA Pending, Energy Star BC MRT

• 969 Robson Street BOMA Pending BC 3rd Party

• Seymour Place – BC MRT

• 11th Avenue Place LEED Gold, AB 3rd Party HOOPP LEAP, Energy Star

• 207 and 215 9th Avenue SW BOMA Gold, AB MRT Energy Star

• 505 3rd Street SW BOMA Pending, AB MRT/3rd Party Energy Star

• 7315 8th Street NE BOMA Pending AB MRT

• Centre 810 – AB MRT

• Citadel West – AB MRT

• Deerport Centre BOMA Silver AB MRT

• Duncan Building BOMA Silver AB MRT

• NovAtel Building – AB 3rd Party

• Quarry Park LEED Certified, AB 3rd Party BOMA Pending, Energy Star

• 44 Capital Blvd BOMA Silver AB 3rd Party

• Petroleum Plaza LEED Silver, AB MRT/3rd Party BOMA Silver

• Scotia Place BOMA Gold AB MRT/3rd Party

• Ford Credit Building – AB 3rd Party

• Greystone Business Park – AB 3rd Party

• Whitemud Business Park – AB 3rd Party

• Keewatin Square – SK MRC

• 155 Carlton BOMA Silver MB 3rd Party

• 175/185 Carlton BOMA Pending MB 3rd Party

• 325 Broadway Avenue BOMA Silver MB 3rd Party

• 363 Broadway Avenue BOMA Silver MB 3rd Party

• 400 St. Mary BOMA Gold MB MRC/3rd Party

• 444 St. Mary BOMA Silver MB MRC/3rd Party

CANADA (CONTINUED)


• Bramalea City Centre (Office) – ON MRC/3rd Party

• 365 March Road LP BOMA Silver ON 3rd Party

• 123 Commerce Valley Drive BOMA Platinum, ON MRC Energy Star

• 201 City Centre Drive BOMA Platinum, ON MRC/3rd Party BOMA Earth, Energy Star, TOBY Award, National TOBY Award, Certificate of Excellence, Energy Star

• 2920 Matheson East BOMA Platinum, ON MRC/3rd Party Energy Star

• 33 City Centre Drive BOMA Platinum, ON MRC/3rd Party TOBY Award, National TOBY Award, Certificate of Excellence



• 59 Camelot Drive BOMA Pending ON MRC

• 99 Metcalfe Street BOMA Silver ON MRC

• 301 Laurier Avenue – ON MRT/3rd Party

• 350 Sparks Street BOMA Pending ON MRC

• Blair Road BOMA Silver ON 3rd Party

• CBC Ottawa Broadcast Centre BOMA Silver ON MRC

• Green Valley Office Park BOMA Pending ON MRT

• Heritage Place BOMA Silver ON MRT/3rd Party

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OFFICE (CONTINUED)

HOTEL

CANADA (CONTINUED)


• Performance Court BOMA Gold, ON MRC/3rd Party LEED Gold, Bullfrog Powered

• St. Laurent Business Centre BOMA Silver ON MRT

• Standard Life BOMA Silver ON MRT/3rd Party

• Time Square BOMA Silver ON MRT

• 60 Bloor Street West BOMA Pending, ON 3rd Party Bullfrog Powered

• 77 Bloor Street West BOMA Gold, ON MRT/3rd Party LEED Gold

• 200 Yorkland BOMA Silver ON MRT

CANADA (CONTINUED)


• Etobicoke Wellness Centre LEED Pending ON MRC

• Leaside Corporate Centre BOMA Silver ON MRC/3rd Party

• York Research Tower LEED Silver ON 3rd Party

• 41 Rue Victoria LEED Pending QC MRC


• Coast at Lakeshore East LEED Silver IL MRG


• Inn at the Quay Green Key BC MRC

• Acclaim Hotel Calgary Airport Green Key AB MRC

• Hilton Garden Inn Green Key AB MRC

• Clearwater Residence Hotel Green Key AB MRC – Timberlea

• Clearwater Suite Hotel Green Key AB MRC

• Franklin Suite Hotel Green Key AB MRC

• Merit Hotel & Suites Green Key AB MRC

• Nomad Hotel & Suites Green Key AB MRC

• Radisson Hotel & Suites Green Key AB MRC Fort McMurray

• Vantage Inn and Suites Green Key AB MRC

• Days Hotel and Suites Green Key AB MRC

• Cambridge Red Deer Hotel Green Key AB MRC & Conference Centre

• Temple Gardens Mineral Green Key SK MRC Spa Resort Hotel

• Wingate by Wyndham Regina Green Key SK MRC

• Saskatoon Inn & Green Key SK MRC Conference Centre

• Holiday Inn Winnipeg South Green Key MB MRC

• Residence Inn – London Green Key ON MRC

• Hilton Garden Inn Green Key ON MRC Toronto Airport West

CANADA (CONTINUED)


• Courtyard Marriott Green Key ON MRC

• Hilton Garden Inn and Green Key ON MRC Homewood Suites

• Holiday Inn Express Green Key ON MRC

• Towne Place Suites Green Key ON MRC by Marriott

• Days Inn & Suites Green Key ON MRC

• Days Inn North Green Key ON MRC

• Courtyard by Marriott Green Key ON MRC Toronto Airport

• Hotel Carlingview Green Key ON MRC Toronto Airport

• Residence Inn by Green Key ON MRC Marriott Toronto Airport

• Toronto Airport Marriott Green Key ON MRC

• Cambridge Suites Hotel Green Key NS MRC Halifax

• The Prince George Hotel Green Key NS MRC

• Cambridge Suites Green Key NS MRC Hotel Sydney

• Days Inn and Suites Green Key NT MRC

• Stanton Suites Hotel Green Key NT MRC


• Translink Logistics Centre LEED Pending SK 3rd Party

• 1205 Corporate Drive Solar powered ON 3rd Party

• Maple Leaf Foods Dist. Centre LEED Gold ON MRC/3rd Party


• • 47 Clarence BOMA Pending ON 3rd Party

• 131 Queen Street BOMA Pending ON MRC

• Quinte Consolidated BOMA Platinum, ON MRC/3rd Party Courthouse LEED Gold

• Place Innovation BOMA Gold QC MRC/MRT and Silver – multiple buildings

INDUSTRIAL

UNIVERSAL



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THE MORGUARD GROUP Morguard is a fully integrated real estate company with a diversified, high-quality portfolio

of assets across North America. We have built our business with strong leadership, proven

management and significant long-term growth for over 45 years. As of December 31, 2019,

Morguard had $21.3 billion of total assets under management, directly owned 207 properties,

and employed 1,500 real estate professionals in 13 offices throughout North America.

Publicly traded real estate company

Morguard Corporation

Publicly traded real estate investment trusts

Morguard REIT

Morguard North American Residential REIT

Real estate advisory company

Morguard

Investment management company

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OUR 2035LONG-TERM OBJECTIVES

Our voice: advocating for sustainable real estate We want to inspire others to join us while assuring our stakeholders’ support always.

Responsible property investment: sustainability adviser to our clients Our goal is to provide the best strategic advice regarding environmental, social and governance

(“ESG”) factors that help support new and lasting investment endeavours.

Reaching net zero: partnering to achieve sustainable buildings Our sustainability principles focus on neutralizing environmental impact through active

partnership with our tenants and clients.

Sustainable development: building and supporting our communities As a real estate developer, we feel we have a unique responsibility to help support our

communities through the construction of sustainable real estate and localized philanthropy.

Responsible employer: empowering our people A culture of respect, inclusion, health, safety and equal opportunity removes barriers, helping

ensure we retain, engage and attract innovative talent who are committed to sustainability.

Our sustainable house: leading by example We are uniquely positioned as a landlord and as a tenant to demonstrate our commitment to

sustainability. By setting an example, we hope we’ll inspire our stakeholders to take our lead.

EXECUTIVE SPONSORSCORPORATE GOVERNANCE & NOMINATING COMMITTEE

Pamela McLean Senior Vice President, Finance, and Chief Financial Officer Morguard Investments Limited

Beverley G. Flynn Senior Vice President, General Counsel and Secretary

Timothy J. Murphy Partner, McMillan LLP

Michael S. Robb Corporate Director

L. Peter Sharpe Corporate Director

FEEDBACK AND INQUIRIES

We welcome your feedback and inquiries about Sustainable Morguard’s sustainability performance. Please email us at [email protected]

Beverley G. Flynn Senior Vice President, General Counsel and Secretary

Christine Wickett Manager, Corporate Sustainability and Responsibility

SUSTAINABLE MORGUARD

MORGUARD

55 City Centre Drive

Suite 1000

Mississauga, ON

L5B 1M3

905-281-3800

MORGUARD.COM

PRINTER TO UPDATE LOGO

Documents

CORPORATE SUSTAINABILITY HIGHLIGHTS · the next reporting year, our goal is to embrace a more integrated management approach to Morguard’s Corporate Sustainability and Responsibility