Dear Stakeholders, 2025 has been a year of resilience and adaptability for Manulife US REIT, as we focused on financial stabilisation. We have prioritised sustainable growth strategies while embedding our ESG principles into every facet of our operations. This commitment ensures long-term value creation not only for our investors but also for the communities we serve. By integrating these ESG principles, we remain agile and responsive to shifting market expectations and regulatory requirements, positioning ourselves to meet both current challenges and future opportunities efficiently. Driving Sustainable Environmental Impact This year, we enhanced the transparency and accountability in our sustainability reporting by aligning our disclosures with the ISSB framework and SGX RegCo’s Roadmap for Mandatory Climate Reporting. These efforts ensure our operational practices meet global best standards and regulatory requirements. We achieved meaningful progress in environmental stewardship, reducing energy intensity and GHG emissions intensity by 29.0% and 40.2% respectively compared to our 2018 baseline. Our portfolio continues to meet the target of 90.0% green-certified portfolio by NLA. We are also proud to have earned a 5 Star rating for the eighth consecutive year in the GRESB Real Estate Assessment, underscoring our commitment to the highest sustainability standards. Additionally, we have taken a significant step by embarking on the inaugural disclosure of our Scope 3 greenhouse gas emissions, recognising that majority of total corporate emissions stems from Scope 3 sources. In the initial phase, we focused on waste generated in operations. This is a stepping stone in our journey towards comprehensive environmental stewardship, as we seek to better assess our indirect impacts and work collaboratively with our business partners and stakeholders to drive decarbonisation, even as we diversify our portfolio. Looking ahead, we seek to assess and mitigate our broader environmental impact. Strengthening Engagement Strategies Our employees are the cornerstone of our organisation, and their growth and well-being remain a top priority. Throughout 2025, we continued to implement initiatives aimed at strengthening employee engagement, supporting professional development, and promoting overall wellness. These included regular engagement sessions, employee surveys, training programmes, wellness activities, and flexible hybrid work arrangements. Reflecting our continued commitment to fostering a supportive and inclusive workplace, our employee engagement score improved to 4.5, up from 4.4 out of 5.0. Championing Community Stewardship Building strong relationships with our local communities and partners is integral to our sustainability journey. In 2025, we reinforced our commitment to fostering community well-being through meaningful activities. These included volunteering with the Waterways Watch Society for a kayak-based waterway cleanup and self-organising a beach cleanup at East Coast Park using litter-picking tools provided by the National Environment Agency (NEA). In total, we recorded 136.5 volunteer hours and contributed S$20,000 to several local beneficiaries, underscoring our dedication to social responsibility and community development. Reinforcing Robust Corporate Governance Strong corporate governance is the foundation of our sustainability efforts. ESG-related performance metrics are integrated into management compensation structures and account for up to 20.0% of the overall performance evaluation. These measures ensure sustainability considerations are embedded in decision‑making at the highest levels. We are proud to have ranked 13th out of 42 REITs and Business Trusts in the SGTI 2025, reflecting our commitment to accountability and transparency. Achieving Clarity and Transparency Looking ahead to 2026 and beyond, the sustainability landscape will continue to evolve rapidly. We remain committed to addressing emerging sustainability challenges whilst maintaining our focus on delivering value to our stakeholders. Through continued collaboration with our investors, tenants, employees, regulators, and business partners, we are confident that our sustained commitment to responsible business practices will create long-term value for all stakeholders and contribute to a more resilient and sustainable future. John Casasante Chief Executive Officer and Chief Investment Officer (CEO & CIO) CEO MESSAGE TO STAKEHOLDERS / 06 / EXPANDING HORIZONS
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