PATRIZIA Sustainability Strategy

Our Sustainability

Strategy

Sustainability is about taking actions
that create positive impact both
today and in the future. Real assets
play a pivotal role in society. Across
residential, commercial, logistics,
and infrastructure they serve basic
human needs such as housing,
workspaces, healthcare, energy,
connectivity, and transportation.
The impact we have as the real
assets industry – both on the natural
environment and the people that live
within it – cannot be downplayed or
ignored.

¹ As defined in the PATRIZIA Impact Investing policy, which broadly aligns to Article 9 of the EU Sustainable Finance
Disclosure Regulation (2019/2088) and equivalents in other jurisdictions.

² Includes operational emissions and embodied carbon for new developments and major refurbishments,
excluding the ‘sunk’ embodied carbon of the standing portfolio. Further details of the commitment, including a
granular breakdown of the scope of the target, can be found in the PATRIZIA Net Zero Carbon Strategy paper.

Achieve net zero carbon ²

status

across our corporate

operations and real asset
portfolio by 2040 or earlier,
with a clear ambition to
execute as fast as external and
our stakeholder requirements
permit.

Become a leading global
impact investor in the real
assets sector

with a meaningful part
of our assets under
management in impact
investments¹ by 2035.

Be an employer of choice in

the Real Asset sector, where
everyone feels included, repre-
sented, and valued equitably.

Become a leading
sustainable investor in real
assets

with a consistent UN

PRI five-star rating from
2025 onward.

Net Zero Carbon

Strategy

While the transition to a low carbon
economy will undoubtedly present
challenges, we believe that a
proactive approach will help to
protect and enhance long-term
investment value. Climate change
poses significant risk, but also
creates new opportunities for value
creation and differentiation.

PATRIZIA has defined a company-
wide net zero carbon strategy that
sets out steps for how we will
identify and manage the transition to
a low carbon economy, both for our
corporate operations and Assets
under Management.

¹ Arising from scope 1, 2 and 3 energy consumption.
² Subject to periodic review in line with best practice science-based target setting methodologies.
³ With the aim of increasing tenant data coverage.
⁴ Prioritising the use of supplies that demonstrate additionality in growing overall capacity for renewables.
⁵ Where regional energy supply markets allow.
⁶ Applicable to all assets but flexible in level of detail, depending on scope of landlord control and materiality of transition risk.
⁷ Where lease arrangements and phased maintenance and replacement programmes allow.
⁸ Where PATRIZIA has full authority over the development process.
⁹ Where PATRIZIA has full authority over the development process.
¹⁰ The boundary of the commitment is defined in our Net Zero Carbon Strategy paper.

Mid-Term Decarbonisation Targets

As part of this strategy, we have set ourselves the following mid-term targets:

Category

Strategic Goal & Timeframe

Energy and Carbon
Intensity

Data Coverage

Renewable Energy
Procurement

Asset Level
Implementation

Develop a decarbonisation plan that applies the energy hierarchy, including

feasibility studies for onsite renewable energy, for all assets under
management⁶ by 2025.

Decarbonisation of

Heat

Remove fossil fuel heat sources across all Assets under Management, where

practically feasible⁷ by 2030.

Development

Emissions

Ensure that by 2030, all new developments⁸ are net zero carbon.

Corporate Emissions

Achieve net zero carbon status for the group’s own operations by 2030.

Reduce energy intensity by 30% and carbon intensity ¹ ² by 50% by 2030

across our Assets under Management, from an industry-wide baseline of

2019.

Procure electricity from renewable sources⁴ for all landlord-controlled

supplies by 2025⁵, while encouraging occupiers to adopt renewable energy.

Achieve 100% coverage of landlord procured energy data and establish an

effective tenant engagement strategy³ by 2025.