Brookfield Real Estate Is Committed to Executing Clean Energy Initiatives Across Its Portfolio, Driving Its Overall Carbon Footprint Reduction

U.S.

As we execute our long-term strategy to deliver net-zero emissions across our business by 2050 or sooner, we are reducing our Scope 2 and 3 emissions by powering 100% of Brookfield’s U.S. Office portfolio with predominantly clean energy sources by 2026. Brookfield will predominantly leverage power purchase agreements (PPAs) to decarbonize its operations, ensuring that we source electricity from the same power grid in which we will use the electricity, further incentivizing the development of new clean energy sources. Clean energy sources for procurement include hydropower, solar, wind and nuclear power. Brookfield’s U.S. office portfolio will procure 600 GWh of clean electricity, reducing GHG emissions by 260,000 mtCO₂e annually (the equivalent of avoiding burning 300 million pounds of coal). Clean Power Sources by City:

• Denver: Renewable electricity from local wind power facilities.
• Houston: Newly built, Texas-based solar power plant, with its construction initiated by Brookfield Properties
• Los Angeles: Newly built, California-based solar power plant, with its construction initiated by Brookfield Properties.
• New York: In-state, run-of-river hydropower facilities.
• San Francisco: Solar and wind farms through the CleanPowerSF SuperGreen program.
• Washington D.C.: Nuclear power facilities equipped by Brookfield’s Westinghouse Electric Corp.

India

Accelerating our progress, in 2022, Brookfield Properties India committed to reach net-zero emissions by 2040 across its entire portfolio of 50 million square feet in India, which includes locations in which we have an operating presence. Brookfield Properties India’s strategy to achieve net zero is focused on energy efficiency, reducing water consumption, promoting recycling, and improving indoor air quality, which benefits all its tenants.

U.K.

Brookfield Renewable will supply Brookfield Properties’ Canary Wharf with clean energy beginning in 2026, providing 80 GWh of annual electricity needed with power generated from the development of our new, onshore windfarm in Scotland.

China

Brookfield’s newly opened mixed-use complex in Shanghai, One East, uses renewable energy to collaborate on net zero-strategies with tenants. During construction, Brookfield installed solar panels on the roof of the complex’s retail area, which is visible to the tenants of both office towers. The solar panels generate 260 MWh of energy per year, which reduces the building’s GHG emissions by over 5,000 metric tons a year. Beyond supplying a portion of the complex’s energy, the solar panels are a conversation starter on how we develop sustainable real estate in alignment with China’s National Energy Administration policy.