SASB REAL ESTATE SECTOR DISCLOSURE MUST supports the Sustainability Accounting Standards Board (SASB) Standards, as part of the ISSB. It helps us to communicate with businesses and investors on the financial impacts of sustainability by focusing on material sustainability information. The tables below reference the Standard for Real Estate Sector as defined by SASB’s Sustainability Industry Classification System and identify how MUST has addressed the SASB Accounting Metrices and Activity Metrices for the assets within the reporting scope. ACCOUNTING METRICS Metrics Code Metric Unit of Measurement 2024 Energy Management IF-RE-130a.1 Energy consumption data coverage as a percentage of total floor area, by property sector Percentage (%) by floor area 100.0% IF-RE-130a.2 (1) Total energy consumed by portfolio area with data coverage, (2) percentage grid electricity and (3) percentage renewable, by property sector Gigajoules (GJ), Percentage (%) Total energy consumed by MUST’s portfolio was 61,456,316 ekWh in 2024, of which grid electricity accounted for 83.7% and percentage renewable was 0.0% of total energy. IF-RE-130a.3 Like-for-like percentage change in energy consumption for the portfolio area with data coverage, by property sector Percentage (%) Like-for-like change in energy consumption is a decrease of 3.1% from 2023 to 2024. IF-RE-130a.4 Percentage of eligible portfolio that (1) has an energy rating and (2) is certified to ENERGY STAR, by property sector Percentage (%) by floor area 65.7% of the properties are certified to ENERGY STAR. IF-RE-130a.5 Description of how building energy management considerations are integrated into property investment analysis and operational strategy n/a ESG considerations including energy performance are integrated into investment processes through ongoing monitoring after acquisition. Refer to "ESG Integration in Investment Process" on page 83 for more details. Water Management IF-RE-140a.1 Water withdrawal data coverage as a percentage of (1) total floor area and (2) floor area in regions with High (40-80%) or Extremely High (>80%) Baseline Water Stress, by property sector Percentage (%) by floor area (1) 100.0%. (2) 100.0%. IF-RE-140a.2 (1) Total water withdrawn by portfolio area with data coverage and (2) percentage in regions with High (40-80%) or Extremely High (>80%) Baseline Water Stress, by property sector Thousand cubic metres (m³), Percentage (%) (1) Total water usage by MUST’s portfolio was 213,173 m3 in 2024. (2) 40.5% of total water usage are from regions with High or Extremely High Baseline Water Stress. 108 | MANULIFE US REIT
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