ESR Unveils its ESG 2030 Roadmap, Accelerating Positive Impact for a Sustainable Future

The ESG 2030 Roadmap targets include 1,000 MW of rooftop solar power capacity and creation of an ESR Group Foundation programme with an investment capacity of up to US$20 million

HONG KONG,May 3,2023 -- ESR Group Limited ("ESR" or the "Company",together with its subsidiaries as the "Group"; SEHK Stock Code: 1821),APAC's largest real asset manager powered by the New Economy,has reaffirmed its commitment to accelerate its long-term sustainable growth by unveiling its ESG (Environmental,Social and Governance) 2030 Roadmap across the enlarged Group.

ESR's ESG 2030 Roadmap is built on the significant progress achieved under its 2025 Roadmapwhich was launched in November 2020. TheESG 2030 Roadmap covers three key pillars under its ESG Framework: Creating a Human Centric environment that is safe,supportive and inclusive for internal and external stakeholders; Developing and maintaining a sustainable and efficient Property Portfolio; and Delivering outstanding Corporate Performance for sustained and balanced growth.

Some of the key achievements of the Group's progress to date include:

Human Centric

· Gender ratio of 45%,exceeding the 40/60 women/men target by 2025

· Zero workforce fatalities among ESR Group employees

Property Portfolio

· Installing close to 100 MW rooftop solar power capacity across the enlarged Group,exceeding its initial target of 52 MW by 2025

· On track to obtaining sustainable building certifications for 50% of the Group's portfolio,with 39% of the Group's portfolio of assets already certified

Corporate Performance

· Secured ~US$3 billion in Sustainability-Linked Loans ("SLLs") to date,strengthening the Group's leadership in sustainable financing

· Recognised for robust and exemplary ESG disclosure with outstanding 2022 rankings in the Global Real Estate Sustainability Benchmark ("GRESB") Assessment,MSCI ESG Ratings and Sustainalytics ESG Risk Ratings

Jeffrey Shen and Stuart Gibson,ESR Group Co-founders and Co-CEOs,said: "Since the launch of the ESG 2025 Roadmap in 2020,we have taken big strides forward in our ESG journey. With the successful acquisition of ARA and its subsidiary LOGOS,we aspire to expand and accelerate our ESG efforts across the Group. The remarkable scale and synergies of our enlarged Group today have strengthened our position as an ESG steward as we continue to raise the bar on our ESG actions and impact,creating long-term value for our stakeholders."

Under its enhanced ESG 2030 Roadmap,ESR has established ambitious targets across the three key pillars to accelerate positive impact as an enlarged Group. These targets include:

Human Centric

· Maintain a safe working environment by targeting Zero ESR workforce fatalities

· Achieve and maintain gender ratio of 50/50 women/men

· Creation of an ESR Group Foundation programme with an investment capacity of up to US$20 million

Property Portfolio

· Set up 1,000 MW of solar power capacity on the rooftop of assets

· Attain sustainable building certifications and ratings for 50% of the Group's portfolio

· Reduce energy consumption intensity in line with the Group's Net Zero Carbon commitment and decarbonisation roadmap

Corporate Performance

· Achieve a 3-Star GRESB rating average

· Maintain a culture of strong corporate governance

· Adhere to UN PRI principles in our investment and asset management policies and practices

Tang Boon Kang,ESR Group Head,Governance & Sustainability and Emma Larsson,ESR Group ESG Officer,said: "ESR has achieved great progress on the targets set out in our 2025 roadmap. As we lead the way forward in the transition to a more inclusive,low-carbon and climate resilient future,our ESG 2030 Roadmap will sharpen our focus in driving ESG efforts forward as an enlarged Group. It includes new targets that are coherent with our 2025 roadmap and drive greater accountability as we continue to accelerate best-in-class practices across the Group."

In conjunction with unveiling of the ESG 2030 Roadmap,ESR has published its ESG Report 2022which can be found on the Group's website. The ESG Report 2022 describes the Group's achievements in line with its vision to be a leading provider of Space and Investment Solutions for a Sustainable Future.

Under the Human Centric pillar,the Group has developed employee engagement initiatives focusing on employee well-being,diversity,equity and inclusion,and training; contributed positively to the communities where it operates; and built modern logistics facilities with human centric design. Under the Property Portfolio pillar,the Group has accelerated its renewables strategies,continued its focus on sustainable & efficient operations and sustainable building certifications & ratings,and adopted the Task Force on Climate-related Financial Disclosures (TCFD) Framework to mitigate climate change. Under the Corporate Performance pillar,the Group has maintained its high standards of corporate governance,integrated ESG factors into its investment and asset management policies and practices and improved its performance in the global ESG benchmarks and ratings.

Please refer to ESR's ESG 2030 Roadmap and ESG Report 2022 for details.

About ESR

ESR is APAC's largest real asset manager powered by the New Economy and the third largest listed real estate investment manager globally. With approximately US$150 billion in total assets under management (AUM),our fully integrated development and investment management platform extends across key APAC markets,including China,Japan,South Korea,Australia,Singapore,India,New Zealand and Southeast Asia,representing over 95% of GDP in APAC,and also includes an expanding presence in Europe and the U.S. We provide a diverse range of real asset investment solutions and New Economy real estate development opportunities across our private funds business,which allow capital partners and customers to capitalise on the most significant secular trends in APAC. ESR is the largest sponsor and manager of REITs in APAC with a total AUM of US$46 billion. Our purpose – Space and Investment Solutions for a Sustainable Future – drives us to manage sustainably and impactfully and we consider the environment and the communities in which we operate as key stakeholders of our business. Listed on the Main Board of The Stock Exchange of Hong Kong,ESR is a constituent of the FTSE Global Equity Index Series (Large Cap),Hang Seng Composite Index and MSCI Hong Kong Index. For more information on ESR,please visit www.esr.com

Investor Relations

Marilyn Tan

Group Head,Investor Relations

+65 6601 9361

marilyn.tan@esr.com

Media Contact

Kathleen Goh

Senior Director,Group Corporate Affairs

Tel: +65 6972 2192

kathleen.goh@esr.com