ESG Excellence: FCR Recognized as one of Canada’s 2022 Greenest Employers

We're pleased to share that we've been recognized for the first time as one of Canada's 2022 Greenest Employers by Mediacorp Canada and The Globe and Mail. Now in its 15^th year, this special designation recognizes the employers that lead the nation in creating a culture of environmental awareness in their organizations. These employers have developed exceptional sustainability initiatives - and are attracting people to their organizations because of their environmental leadership.

From our properties to our corporate practices, we've been at the forefront of environmental awareness in the Canadian Real Estate industry for over a decade. We're always building out our ESG (Environmental, Social, and Governance) programs, and regularly rethinking and upgrading our policies as showcased in our yearly ESG reports, 2020 - 2024 ESG Roadmap, andTenantSustainability Operations Guide to name a few. This honourable recognition speaks to our primary ESG goal of becoming sustainable and environmentally conscious in every aspect of our business - which in turn is integral to our overarching strategy of building thriving urban neighbourhoods.

"Sustainability initiatives, whether they focus on creating a healthier indoor environment, reducing our carbon emissions, or developing community engagement programs, all further our company's purpose of having a positive impact on our tenants and communities"

- Melissa Jacobs, FCR's Senior Director, ESG

Over the past decade, our ESG initiatives have evolved. Back in 2006, one of our first ESG-based initiatives was our commitment to construct our new buildings usingLEED Standards - a globally recognized designation of environmentally responsible design and construction practices. We were the first Canadian retail developer to do so and have since expanded on this commitment that now exceeds 3.8 million sf of LEED certified space across our portfolio - a proud achievement indeed.

FCR'sPlace Viau located in St Leonard, QC isLEED certified

Not only do our ESG commitments cover our construction and development practices, but they also extend to our biodiversity and carbon footprint goals. In fact, last year we strategically installed 3beehiveson the rooftops of several buildings that have continued to thrive in their environments and increase the area's biodiversity. With last year's installation, we now have a total of11 beehives and planto install 5 more this summer. Bees are essential to the survival and future of the world's ecosystems and food supply. As a result of harsh pollutants and scarce green space in urban settings, bee populations have struggled. With the help of initiatives like ours, the bee population across Canada has steadily increased in the last 5 years. Byintroducing morebeehives within our properties, we are excited to see those numbers rise one hive at a time.

Some of our busy bees and their honey at Cedarbrae Mall in Scarborough, ON - this hive houses over 70,000 bees!

In preparing for the future of sustainability and reducing our carbon footprint, our goal is to achieve net zero emissions by 2050. As part of our strategy to achieving this goal, we've invested in LED lighting systems across our portfolio. In fact, we're proud to share that in 2020 we completed our five-year initiative to convert our parking-lot lighting to energy-efficient LEDs. This will reduce our properties' annual parking lot electricity expenditure by over 50%! It is initiatives like these that bring us one step closer to achieving our 2050 net zero emissions goal.

Not only are we investing in initiatives to reduce our carbon footprint, but we're also providing ways for our neighbourhoods to do so as well. In fact, we've invested in projects like ourElectric Vehicle (EV) charging stations initiative to install EV chargers across our entire portfolio by 2024. Just last year, we installed a total of 90 EV charging stations that brought our total up to 250 and in keeping up with our 2024 target we plan to install over 200 more this year and next. By installing EVs at our properties, we're providing the necessary infrastructure, making it easier for our neighbourhoods to choose EVs and reduce their own carbon footprint.

Some of ourEV Charging stations.

We're also spreading our sustainability efforts into local communities as well. Our employee-led, non-profit Thriving Neighbourhoods Foundation recently partnered with Second Harvest to help fundraise and support the food-rescue organization in major cities across Canada. This event raised an outstanding $281,000, which provided 562,000 meals for Canadian families facing food insecurity. These funds rescued and redistributed over 780,000 pounds of food, and as a result, prevented 2.9 million pounds of greenhouse gases from entering our atmosphere - the equivalent of taking 400 cars off the road this entire year.

Many of our initiatives including ourFCR Thriving Neighbourhoods Foundation, beehive implementation, EV Charging Stations, and LED lights have come as a result of our2020-2024 ESG Roadmap. This five-year roadmap outlines our strategically detailed plans and aligns a series of actions and measurable goals that allows us to hold ourselves accountable and stay on track to reach our ESG targets. What's especially unique about this roadmap is that it's integrated into every area of our business, allowing for us to move more cohesively and have a profound impact on our neighbourhoods and the environment.

"The greening of FCR has hardly peaked and needs constant refining. Sustainability is a journey and we've only just begun."

- Maryanne McDougald, FCR's Senior Vice President, Operations

Being recognized as one of Canada's 2022 Greenest Employers not only speaks to our ESG excellence, but also our talented employees, tenants, shareholders, and other stakeholders who help us along this sustainable journey. Each step we take towards a more environmentally sustainable future, means a better, cleaner, promising future for all.

We're proud to be recognized for our extensive ESG efforts over the past decade and would like to thank Media Corp and The Globe and Mail for this honourable recognition. Learn more about it here.

Please see below a list of ourESG Resources:

All things ESG
2020-2024 ESG Roadmap
Tenant Sustainability Operations Guide
2020 ESG Report
Beehive Program
Electric Vehicle Charging Stations initiative
WELL Health-Safety Rating