Ohsas 18001 Prescribed Methodology

[Latisha Gervase]

Missiondriven and investor-led, GRESB is the environmental, social and governance (ESG) benchmark for real assets. We work in collaboration with the industry to provide standardized and validated ESG data to the capital markets. The 2022 real estate benchmark covers more than 1,800 property companies, real estate investment trusts (REITs), funds, and developers. Our coverage for infrastructure includes over 800 infrastructure funds and assets. Combined, GRESB represents USD 8.6 trillion in real asset value. More than 170 institutional investors, with over USD 51 trillion AUM, use GRESB data to monitor their investments, engage with their managers, and make decisions that lead to a more sustainable real asset industry.

The GRESB Real Estate Assessment is the global standard for ESG benchmarking and reporting for listed propertycompanies, private property funds, developers and investors that invest directly in real estate. The Assessmentevaluates performance against three ESG Components - Management, Performance, and Development. The methodologyis consistent across different regions, investment vehicles and property types and aligns with internationalreporting frameworks, such as TCFD, GRI and PRI.

The GRESB Real Estate Assessment provides investors with actionable information and tools to monitor and managethe ESG risks and opportunities of their investments, and to prepare for increasingly rigorous ESG obligations.Assessment participants receive comparative business intelligence on where they stand against their peers, aroadmap with the actions they can take to improve their ESG performance and a communication platform to engagewith investors.

GRESB works in close collaboration with the National Association of Real Estate Investments Trusts (Nareit), aGRESB Industry Partner. NAREIT encourages its corporate members to complete the annual GRESB Real EstateAssessments, which, for the past seven years, has been the basis for their annual Leader in the Light Awardcompetition. The Leader in the Light Awards are presented to REITs in eight property sectors: Diversified,Global (for non-U.S. companies), Health Care, Industrial, Lodging/Resorts, Office, Residential and Retail. Ifthere are both large and small cap entries that meet the awards criteria in a given property sector, awards arepresented to both the leading large and small cap companies. To participate in the Leader in the Light Awardprogram, Nareit members must complete both the GRESB Real Estate Assessment and the Leader in the LightSupplement. Once all sections of the GRESB Real Estate Assessment are completed, including the Leader in theLight Supplement, participants are able to submit their entire submission which will automatically be includedin the Leader in the Light Award competition.

GRESB Public Disclosure evaluates the levelof ESG disclosure by listed property companies and investment vehicles for an entire investable universe. Theevaluation is based on a set of indicators aligned with the GRESB Real Estate and Infrastructure Assessments. Itprovides investors with a resource hub to access ESG disclosure documents across their full listed investmentportfolio and make comparisons against an investable universe with full coverage.

All constituents have the opportunity to review and update the data collected prior to it becoming accessible toGRESB Listed Investor Members. GRESB Public Disclosure consists of four Aspects: Governance of Sustainability,Implementation, Operational Performance and Stakeholder Engagement. Together, these Aspects contribute towards aPublic Disclosure Level, expressed through an A to E sliding scale.

The Real Estate Benchmark consists of participants completing both the Management and Performance Components andthe Development Benchmark consists of participants completing both the Management and Development Components.

GRESB does not require participation in any of the Assessment Components. However, if the entity does have bothstanding investments and development projects and considers itself both an operator of buildings and involved indevelopment activities, it is highly recommended to participate in both benchmarks. As a result, participantswill receive two GRESB Scores, two Benchmark Reports, two peer groups, etc. capturing how the entities approachtheir respective activities in both benchmarks.

GRESB results provide a practical way to understand ESG performance and communicate it to investors and otherstakeholders. GRESB provides overall scores of ESG performance - such as the GRESB Score and GRESB Ratings - aswell as detailed aspect-level and individual indicator-level assessments of performance. The key to analyzingGRESB data is in peer group comparisons that take into account country, regional, sectoral and investment typevariations. This richer analysis enables fund managers and companies to understand their results in the contextof their investment strategies and communicate this to their investors.

GRESB is committed to facilitating the use of its ESG metrics in investment decision-making processes andencouraging an active dialogue between investors, fund managers and companies on ESG issues. GRESB updates itsInvestor Member Guidance on an annual basis to assist GRESB Investor Members in their engagement with managers.

The Review Period will start on September 1,when preliminary individual GRESB results will be made available to all participants and run for the month.During the Review Period, participants will be able to submit a review request to GRESB using a dedicated form.The final results will be launched to both participants and Investor Members on October 2. Public Results eventsand other results outputs will be rescheduled to October and November in order to accommodate the SeptemberReview Period.

The Response Check does not exclude the participant from any element of the validation process, nor does itguarantee a better GRESB score. It is intended to ensure that no important details have been overlooked in thesubmission and provides the opportunity to ask for additional guidance and clarification on the GRESB Assessmentindicators. The Response Check helps reduce errors that may adversely impact Assessment results and identifiesinconsistent responses and incorrect answer formats.

The Response Check is available for request from April 1 to June 1, 2023 (11:59:59 p.m., PST) subject to resourceavailability. We strongly encourage participants to place their requests as early as possible. The ResponseCheck can be requested before the Assessment has been completed, but the scope of the review will be limited tothe information filled in one week prior to the call.

In addition to the guidance in the Portal, each Assessment is accompanied by a Reference Guide. The ReferenceGuide provides introductory information on the Assessments and a report-format version of theindicator-by-indicator guidance that is available under the Guidance tab in the Portal.

GRESB works with a select group of Partners who can help participants with their Assessment submission. To learnmore about the services offered by GRESB Partners, take a look at our Partner Directory.

GRESB Real Estate Assessment Training is designed to help participants, potential participants and other GRESBstakeholders (managers, consultants, data partners) improve their ESG reporting through the GRESB Real EstateAssessment.

GRESB provides a free online training platform in2023. The training courses are modular and self-paced, walking participants through the various aspects of theAssessments, and providing detailed examples and tips for a successful submission.

The 2023 Assessment requires participants to report the indicators on Energy, GHG, Water, Waste, BuildingCertifications, and Efficiency Measures at the asset level. This asset-level data provided to GRESB is strictlyconfidential and will only be used to check and validate the aggregated portfolio performance data. It will notbe passed on to any external party, be it investors or others, in any way that allows the data to be traced backto the asset, without the explicit consent of the participant.

The main driver for asset level reporting is to improve investor confidence in data quality. In addition, itenables us to provide participants with additional insights into the impact of their ESG programs, the basis forand paves the way for more tailored assessments in the future.

GRESB is fully compliant with GDPR. The GRESB Privacy Statement can be found here. We also have specific internal policies,such as our Data Breach Policy and our Data Protection Policy, related to GDPR that we cannot share externallyfor security reasons. Please note that asset level data does not fall under the incidence of GDPR because itdoes not contain any personal data.

Selected indicators in the Assessment require supporting evidence. Evidence is information that can be used tovalidate the overall answer to the indicator and support the additionally selected criteria.

GRESB does not have a prescriptive standard for evidence, rather the expectation is that a validator withreasonable domain expertise can review the evidence and find support for the overall indicator response andselected answer options. This means that the uploaded evidence must clearly reference the answer optionsselected by the participant. The evidence must not require extensive interpretation or inference, andparticipants are strongly encouraged to provide the simplest evidence that supports their claim.

If a hyperlink (or deep link) is provided, ensure that the relevant page can be accessed within two steps.Ideally, the landing page should contain all the information needed to validate the answer. To qualify as validsupporting evidence, the evidence provided must demonstrate the existence of the relevant topic relating to eachof the criteria selected. The participant has the obligation to ensure that the hyperlink is functioning. Brokenlinks are the responsibility of the participant and will be interpreted as the absence of evidence. Hyperlinkscan only be provided if indicated. In all other instances, the actual document should be uploaded. Hyperlinks inuploaded documents will not be checked.

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