2025 Corporate Responsibility Report

Corporate Responsibility Report 2024-2025

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National Development | 2024 - 2025 Corporate Responsibility Report

N AT D E V. C O M

Contents

A Letter from Leadership 4 About National Development 6 Environmental 8 Environmental Overview 10 Project Spotlight: Sustainability and Resiliency at 15 Necco 12 Building Certifications 14 Metrics and Performance: Data Coverage 16 Social 18 Our Commitment to Diversity, Equity, and Inclusion 20 Community Impact 22 Project Spotlight: Building Impact 24 Employee Engagement 26 Tenant and Resident Engagement 28 Industry Engagement 30 Governance 32 Our Corporate Responsibility Program 34 Why GRESB 36 Risk Management in Development 38 Looking Forward 40

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National Development | 2024 - 2025 Corporate Responsibility Report

National Development | 2024 - 2025 Corporate Responsibility Report

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A Letter from Leadership

“Through our actions and the processes embedded in our decision-making governance, we are demonstrating that we are committed to doing our part in building a greener, more vibrant, diverse, and inclusive environment.”

National Development has long been dedicated to the principles of corporate responsibility and the pursuit of best practices as it relates to environmental and sustainability matters.

We believe that focusing on the factors that comprise corporate responsibilities, including Environmental, Social and Governance or “ESG”, creates long-term value for our investors, tenants, residents, employees, and the communities in which we work. From redeveloping major brownfield sites to delivering the region’s first LEED Gold certified apartment building, creating the Boston’s largest solar installation, and serving in board leadership roles at many of the region’s nonprofit institutions, our firm has been a leader.

By integrating corporate responsibilities into our business decisions and operations, we aim to reduce our environmental impact, enhance our social contributions, and ensure strong governance practices. Through our actions and the processes embedded in our decisionmaking governance, we are demonstrating a commitment to doing our part in building a greener, more vibrant, diverse, and inclusive environment.

Our ESG Leadership Committee has been the driving force behind National Development’s corporate responsibility initiatives, communications plan and the preparation of our annual GRESB submission. To achieve our ESG goals, we have established a comprehensive framework that guides our policies, processes and practices across our portfolio.

It is important to note that with an evolving and dynamic portfolio, we will often face challenges in our ability to show our environmental progress on a portfolio level. Major shifts to our portfolio composition will always have an impact on our energy, water, GHG, and waste usage – sometimes favorably and sometimes not. We are focused on making meaningful progress at the individual property level.

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National Development | 2024 - 2025 Corporate Responsibility Report

As we progress on our corporate responsibility journey, we are committed to the following goals: •

Increasing our data coverage for more accurate usage metrics

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Continuing our dedication to philanthropy and pro bono efforts

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Pursuing building certifications and assessments for stabilized assets and targeting LEED certifications for all new developments

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Maintaining our focus on diversity initiatives and preserving a healthy and inclusive workplace

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Continuing to use sustainability best practices throughout our portfolio, with a focus on new development

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Improving the environment around us, both in the communities in which we build and in the workplace

We welcome your feedback and suggestions on our corporate responsibility performance and communications and invite you to collaborate with us on our journey. By working together, we can create a more sustainable, resilient, and prosperous future for our many stakeholders.

Brian H. Kavoogian Chief Executive Officer

National Development | 2024 - 2025 Corporate Responsibility Report

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About National Development National Development is a vertically integrated real estate investment, development and management company. One of Boston’s leading firms for over 40 years, it invests throughout the Northeast, helping to shape communities across the region through a legacy of transformative properties. The firm has earned a reputation for delivering long-term value by thoughtfully navigating complexity through the creativity and deep experience of its team.

National Development has developed and/or acquired more than 40 million square feet across a diverse range of property types and manages over $6 billion of assets through a series of fully discretionary real estate investment funds.

At the core of National Development’s values is an understanding that environmental and social issues have real linkages to economic growth. We also recognize that ESG factors play a material role in determining risk and return. To that end, ESG considerations are part of the underwriting process and asset management strategy on every investment both during the acquisition process and throughout the hold period.

National Development values all perspectives and strives toward inclusivity because we believe that equal opportunity and shared success strengthens both our firm and our community. We are actively pursuing several improvements that move us toward meaningful, long-term, sustained change. We are committed to fostering diversity, equity, and inclusion through the many ways that we create, build, and impact the communities in which we live and work.

Our Mission Statement We turn projects into communities. We work collaboratively as long-term partners, creating value for our investors and enhancing the neighborhoods in which we work.

With regard to the many factors that comprise corporate responsibility, National Development strives to act in the best long-term interest of our investors, tenants, residents, employees, and the communities in which we work.

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National Development | 2024 - 2025 Corporate Responsibility Report

National Development | 2024 - 2025 Corporate Responsibility Report

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Environmental Social Governance A commitment to sustainability in every phase of an asset’s life cycle We prioritize sustainability projects that enhance the environmental performance of our existing assets, new acquisitions, and newly constructed assets to improve the quality of life for our tenants and residents while maximizing investor returns.

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National Development | 2024 - 2025 Corporate Responsibility Report

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Environmental Overview We have a comprehensive approach to sustainability and resiliency with policies, best practices and guidelines implemented throughout the development and lifecycle of each asset.

Net Zero National Development reduces carbon emissions and energy use by prioritizing efficient infrastructure, transitioning away from fossil fuels, and decarbonizing construction through carbon assessments, green certifications, and sustainable materials. Our approach balances practicality, cost-effectiveness, and compliance with strict energy and building codes while maintaining high-performance design standards.

Climate Change Adaptation We incorporate risk-mitigating and ESG-related diligence into each property’s business plan, considering both long-term changes in climate conditions and climate-related events.

Energy Consumption We prioritize proactive measures such as efficiency upgrades and the utilization of building management systems and/or benchmarking properties through ENERGY STAR. Energy consumption alternatives are considered for both the construction phase as well as for operations of the property post completion. Throughout each asset’s life cycle we review the energy-consumption metrics and implement energy-reduction strategies as appropriate.

Water Consumption We are continuing to audit water use and to identify opportunities to reduce consumption.

We routinely install water-efficient products and systems upon tenant turn-over, major renovations, and new development. In our ground-up developments, all projects consider water consumption alternatives for both the construction phase as well during the operation of the property post completion.

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National Development | 2024 - 2025 Corporate Responsibility Report

Waste Management We are committed to using best practices in both development and daily operations to reduce, reuse, and recycle materials, consistent with municipal, state, and federal rules and guidance. We promote increased recycling practices of building occupants, providing recycling information via a tenant fit out guide, as well as a development and construction best practices manual.

Indoor Environmental Quality We conduct regular environmental assessments to ensure healthy, comfortable spaces for tenants, proactively addressing contaminants and supporting well-being and productivity.

Material Sourcing We source responsibly, avoiding conflict-affected areas and uncertified practices, and partner with suppliers who share our commitment to sustainability.

Sustainable Procurement We prioritize purchases that minimize environmental impact, promote occupant health, and reduce life-cycle costs, favoring environmentally preferable materials whenever available.

Employee gardens at The District Burlington

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Resiliency and Sustainability in New Development

Case Study: 15 Necco, Boston, MA National Development, in partnership with Alexandria Real Estate Equities, developed a 350,000 SF life science building that is fully leased to Eli Lilly for their new Institute for Genetic Medicine.

As part of our goal to work towards increased sustainability and carbon-neutral projects, numerous measures were incorporated into the design, placement and infrastructure of the waterfront building to foster resiliency, reduce energy consumption and promote wellness for the building occupants.

The building’s design includes multiple features to meaningfully reduce fossil fuel use, including geothermal heating and cooling, photovoltaic solar panels, as well as storm-water harvesting mechanisms. 15 Necco also includes a series of resiliency features including seat walls and self-closing flood barriers, increased elevation, watertight wall penetrations, and a 12-inch continuous curb for added flood protection.

15 Necco Street has recently received LEED Platinum Certification.

The 15 Necco project contains an abundance of publicly accessible spaces for visitors and patrons to enjoy. This includes open areas, pedestrian connections, exterior seating, waterfront views, a public work lounge, and a touchdown space. The Public Work Lounge includes a long-term rotating art program curated by ArtLifting, a non-profit that represents artists with disabilities.

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National Development | 2024 - 2025 Corporate Responsibility Report

Project Highlights

LEED

96% Platinum Reduction in emissions

Core + shell certification

74% 100%

Fossil fuel reduction created from geothermal heating and cooling

Renewable electricity from on-site and off-site sources

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Building Certifications Building certifications hold significant importance in the construction and real estate industries, serving as vital indicators of a structure’s quality, sustainability, and overall performance. These certifications provide assurance to stakeholders, (including investors, tenants and the public), that a building has met rigorous standards in areas such as energy efficiency, environmental responsibility, occupant health and safety.

By pursuing and achieving these certifications, we not only enhance the marketability and value of our assets, but also contribute to a more sustainable and healthy environment, aligning with evolving societal expectations for responsible and forward-thinking design and construction practices.

National Development is deeply committed to sustainability and the well-being of future generations. Through our initiatives and practices, we prioritize environmentally responsible development to ensure a sustainable legacy that safeguards our planet and enhances the quality of life for current and future generations.

To date, we have pursued and/or achieved awards in LEED, Energy Star, fitwel, and WELL Building.

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99 Coolidge: Recently achieved LEED Gold and Fitwel certifications

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Metrics and Performance: Data Coverage Data coverage of performance metrics is a critical aspect of assessing the health and success of any business or investment portfolio. This refers to the extent to which relevant data is available and incorporated into performance measurement processes, as well as future planning and resource allocation. In the context of our diverse portfolio, data coverage becomes even more critical as it significantly impacts decision-making and risk management.

Key Stats on Data Coverage:

17% 100% Higher data collection averages than the benchmark

Energy and GHG coverage in Healthcare, Senior Housing, Hotel and Office sectors

15%

96%

Average increase in data collection portfolio wide, across all sectors

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Water coverage portfolio wide, across all sectors

National Development | 2024 - 2025 Corporate Responsibility Report

National Development | 2024 - 2025 Corporate Responsibility Report

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Environmental Social Governance Our dedication to social service programs is a fundamental part of our DNA The firm supports nearly 60 non-profit organizations annually, through volunteer efforts, pro bono project management and financial contributions. We are committed to fostering diversity, equity and inclusion in all of our firm’s activities.

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National Development | 2024 - 2025 Corporate Responsibility Report

Volunteer Day at National Development

National Development | 2024 - 2025 Corporate Responsibility Report

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Our Commitment to Diversity, Equity & Inclusion Driven by purpose and passion, our team of nearly 250 comes from diverse backgrounds but is unified in our commitment and vision. National Development values all perspectives and strives toward inclusivity because we believe that equal opportunity and shared success strengthens both our firm and our community. We are committed to fostering diversity, equity and inclusion in all of our firm’s activities.

Donations collected for Rosie’s Place

Our Dedication to Philanthropy We share a fundamental desire to make a positive impact on society and contribute to the welfare of others. We support, listen, invest in and honor programs in the communities in which we operate. National Development has partnered with many organizations such as The Builders of Color Coalition and the Community Foundation for Metro West to make an impact in the neighborhoods in which we work.

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National Development | 2024 - 2025 Corporate Responsibility Report

Employees participating in Build-a-bed event

Support We are committed providing communities with meaningful financial support, volunteer hours, philanthropic programs and pro bono services annually.

Listen We work to understand the experiences of our community members so we are able to overcome challenges with solutions beneficial to all involved.

Invest We invest our time, talent and experience. Through our resources and long-standing relationships, we can make a profound impact.

Honor We respect the neighborhoods, cities, and towns in which we build. We are an active and involved partner, committed to positive change.

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Community Impact We believe in the benefits of a strong community and are dedicated to community involvement and volunteer work. Working collaboratively as long-term partners, we enhance the neighborhoods in which we operate and create value for our investors.

Employees removing invasive plants

Days of Service Every year, we offer a series of Days of Service in which our employees can participate.

National Development has a long-standing relationship with Heading Home, one of the region’s largest providers of short term and long term shelter, which serves nearly 1,500 members of the community. We also have a long-standing partnership with Building Impact, an organization partially founded by National Development, that works nationwide to connect companies with nonprofit organizations.

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National Development | 2024 - 2025 Corporate Responsibility Report

A Passion for Public Art The mural program at Underground began soon after the park opened. The first installation of nine murals set the tone for the park as a creative, energetic, cultural attraction and a place that welcomes everyone.

The second installation of ten murals expanded the program with both local and international artists and engaged the highway infrastructure in even more unique and surprising ways. The murals titled “Don’t Let Me Be Misunderstood” and “No Weapon Formed Against Thee Shall Prosper” were added to the park, for a total of 21 murals.

Underground at Ink Block continues to be a thriving public art park. A pickle-ball court was added to further promote the use of the space.

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Empowering Local Nonprofits

Case Study: Building Impact Volunteer Events and Drives: Sleep Snug Sets Hoop Like A Girl Engineering Exploration College Care Packs Veterans Wellness Packs

Family Holiday Bundles Used Book Drive Summer Food Drive Holiday Gift Card Drive

Volunteer Quotes: “Everyone should do this. There is no cost, and it is virtual. Literally the easiest and least expensive volunteer program I’ve ever completed.”

“Oh my gosh, this was wonderful! Amazing! Thank you for the opportunity and for making it SO easy to do!”

“Thank you for making this simple and an easy way to help others” “This is such a great way to put together these packages where this can reach SO many people to volunteer from their computer or mobile phone!”

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National Development | 2024 - 2025 Corporate Responsibility Report

Highlights

3,620+ Lives Impacted

975

Volunteers Engaged

$72k 1,500+

Impact Investment

Meals Provided

457

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Students Inspired

Veterans Supported

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Employee Engagement Our employees have many opportunities to learn about, participate in and contribute to our existing corporate responsibility initiatives to enhance their employee experience at National Development.

Internal Communication Employees receive regular newsletters, including corporate responsibility updates that detail new initiatives and continuing education opportunities, as well as outline yearround opportunities to connect with colleagues at both corporate and off-site events.

Wellbeing Resources Employees have access to a series of perks including complimentary wellness coaching, financial and legal services, mental health counseling, parenting support, adult and elder care, and educational reimbursement and resources. We regularly survey our employees and complete needs assessments to ensure our programs are meeting their needs.

Professional Development Employees have unlimited access to on-demand digital training covering a range of workplace wellness, technical, and cybersecurity topics. Additionally, employees have access to personal development and leadership training through various organizations with which the company partners.

Health and Wellness National Development is committed to supporting the overall health and well-being of our employees. We offer affordable health, dental, and vision insurance to ensure everyone has access to quality care. Our approach to wellness includes both physical and mental health, with resources such as an on-site gym, fitness and weight-loss reimbursements, and a wellness incentive program. We also offer discounted services in alternative medicine, including massage therapy and acupuncture. To remain competitive, we regularly review the market to provide the best possible benefits to our employees.

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National Development | 2024 - 2025 Corporate Responsibility Report

New hire luncheons, hosted

by HR, give new employees the opportunity to meet other coworkers and learn more about the firm from a member of our leadership team

National Development | 2024 - 2025 Corporate Responsibility Report

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Tenant and Resident Engagement Tenant Engagement Our tenant engagement programs for our commercial and residential tenants focus on overall wellness with year-round programming.

The District in Burlington, MA, engaged Green City Growers (GCG) to design, install and maintain an Employee Garden. Located on the lawn outside of 800 District Ave., tenants are invited to gather weekly from spring to fall to plant, maintain and harvest organic produce from our on-site garden. GCG also provides exclusively organic, locally-sourced gardening techniques and materials which sustain a healthier ecosystem.

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National Development | 2024 - 2025 Corporate Responsibility Report

Resident Engagement Through a combination of in-house staff and third-party partners, residential properties have a minimum of one event per month (with some having as many as 1-2 per week) to activate our community amenities. Many of our residential properties partner with Green City Growers and other engagement-based solutions such as Bark Buildings, Building Impact, and Flamingo.

Residents are regularly surveyed for their property’s sense of community (via J Turner). In 2024, National Development’s score was 8.22, significantly more than J Turner’s national average of 7.82.

Through our senior living operating partners, we offer a wide range of programs and amenities that foster personal growth, wellness, and cultural enrichment across all our communities.

Residents can enjoy hands-on craft workshops, attend live performances and concerts, or take part in thought-provoking lectures and dicsussions. To stay active, we offer a variety of options including yoga, fitness classes, and swim programs. A robust schedule of daily programming ensures residents remain engaged, active, and connected.

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Industry Engagement National Development has distinguished itself as one of Boston’s most creative and innovative real estate firms, with a long track record of creating great places in which people want to work and live. Our vertically integrated structure, with discretionary capital and in-house acquisition, development, construction and property management expertise, has earned our firm a reputation for reliably executing thoughtfully conceived projects on time and on budget.

In the realm of corporate responsibility, it is essential to recognize that companies are interconnected ecosystems, and relationships with vendors hold significant importance. These partnerships are not merely transactional but are built on a foundation of trust, collaboration and shared values.

NAIOP Senior Housing Panel Participation

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National Development | 2024 - 2025 Corporate Responsibility Report

We recognize the need for transparent and ethical dealings with vendors, ensuring fair labor practices, responsible sourcing of materials and minimizing environmental impacts.

By fostering relationships based on trust and collaboration National Development can create a ripple effect of positive influence, driving sustainable practices across our supply chains. In doing so, we not only bolster our own ESG performance, but also contribute to a more responsible global business landscape.

Our commitment to corporate responsibility principles is reflected in our Employee Handbook. We ensure that all our employees foster positive relationships with vendors and contractors. We uphold strong ethical standards with our vendors, ensuring fair labor standards and respect for employee rights. We also ensure our partners to adopt environmentally friendly practices and actively support diverse sourcing, minority-owned businesses, demonstrating our commitment to inclusivity and equality. By emphasizing ESG, we not only strengthen our partnerships but also create a more positive workplace.

Employee Industry Engagements Brian Kavoogian | Advisory Board Chairman | ULI IOPC Black Council, NAIOP Director Andrew Gallinaro | ULI Senior Housing Product Council | Why Senior Housing, NAIOP Erika Clarke | BOMA | Past President, BOMA | GBREB Chair Ed Marsteiner | The Future of Development | NAIOP MA Jessica Buonopane | What’s Next in Multifamily | GBREB, REFA | Former President, MAA Angela Iannuzzi | Cultivating a World Class Tenant Experience | GBREB, BOMA Naomi Mayeux | REFA College Connection Panel | GBREB, REFA | REFA Board Member Linda Swain | Leadership Council | NAIOP MA Cam Lawson | NAIOP Developing Leaders Alexandra Saccone | NAIOP Membership Committee Julia Starr | MAA panel on self-service technology National Development | 2024 - 2025 Corporate Responsibility Report

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Environmental Social Governance Our internal policies and governance are the driving force of our success.

Through ongoing training, internal compliance, and reporting we ensure effective controls and competitive peer benchmarking.

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National Development | 2024 - 2025 Corporate Responsibility Report

National Development | 2024 - 2025 Corporate Responsibility Report

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Our Corporate Responsibility Program Our corporate responsibility program was established from a sense of purpose and unity among our employees and senior leadership and also to inform strategic direction and decision-making. Moreover, in the context of today’s socially conscious business landscape, core values take on added significance as they underpin our commitment to ethical, sustainable, and socially responsible practices.

Our ESG Committee is comprised of members from our development, asset management, marketing and HR teams – led by Erika Clarke, the firm’s SVP of Commercial Property Management and Director of ESG, and Brian Kavoogian, Chief Executive Officer.

The committee meets regularly and manages the execution of all ESG initiatives including our GRESB submission, ESG-related corporate communications, and the creation of all ESG content and reporting.

Our greatest strength is our people; approximately 250 team members bring expertise in every aspect of the value creation process across all property categories including office, life science, industrial, retail, senior housing, multifamily and hotel.

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National Development | 2024 - 2025 Corporate Responsibility Report

Our ESG Committee Linda Swain

Brian Kavoogian

Chief Executive Officer

Vice President of Marketing & Communications

Erika Clarke

Michelle Guarino

SVP Commercial Property Management, Director of ESG

Vice President of Human Resources

Katie Snyder

Senior Vice President, Development

Our Corporate Responsibility Partners Conservice ESG helps drive responsible growth with a robust combination of sustainability strategy & a powerful cloud-based ESG platform.

GRESB is an independent organization providing validated ESG performance data and peer benchmarks for investors and managers to improve business intelligence, industry engagement and decision-making.

National Development | 2024 - 2025 Corporate Responsibility Report

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Why GRESB? Participating in GRESB can offer numerous benefits to companies, particularly those involved in the real estate and infrastructure sectors. GRESB is an industry-leading benchmark that assesses and benchmarks environmental, social, and governance performance of real estate investments worldwide.

As a diversified portfolio, participating in GRESB is a strategic move as we look to enhance our ESG performance and gain a competitive edge in an increasingly sustainabilityfocused marketplace. By aligning our practices with GRESB’s benchmarks, we can contribute to a more sustainable and responsible global real estate industry.

Investor Confidence Many institutional investors use GRESB scores to evaluate the ESG performance of real estate and infrastructure investments. Strong GRESB scores can attract a broader investor base and potentially lower the cost of capital.

Competitive Advantage GRESB participation allows companies to benchmark their ESG performance against their peers. By continuously striving to improve GRESB scores, companies can gain a competitive advantage in the market and differentiate themselves as leaders in sustainability.

Reporting Standardization GRESB provides a standardized framework for ESG reporting, which simplifies the process of providing corporate responsibility information to stakeholders. This consistency in reporting makes it easier for investors and partners to evaluate a company’s performance.

Industry Recognition GRESB assessments can serve as a powerful endorsement of a company’s commitment to sustainability and responsible investment.

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National Development | 2024 - 2025 Corporate Responsibility Report

Risk Management At National Development, risk management is a crucial business practice we use to identify, assess, and mitigate potential threats and uncertainties that could impact our objectives.

Effective risk management not only helps us protect our assets but also allows us to make informed decisions, optimize opportunities, and enhance our overall resilience in an everchanging business environment.

We recognize that risk management and corporate responsibility are intricately intertwined in today’s business landscape. We consider a broad spectrum of risks, encompassing not only financial and operational aspects but also ethical, environmental, and social dimensions.

Risk Management: Cyber Security We utilize technical and physical controls designed to protect against cyber threats, including securing physical assets, and implementing virus definitions, malware protection and firewalls. Employees complete annual cyber security trainings, and our IT department regularly sends simulated phishing attacks to ensure compliance with email best practices. We also have policies in place in the event of employee termination, cyber attack or outage, and we regularly participate in risk assessments specifically to identify cybersecurity threats.

Managing Risk in All Areas of Enivronmental, Social & Governance Environmental We have engaged with Conservice ESG on an Environmental Management System (EMS) to track our environmental risk. The EMS is an ISO 14001 aligned platform that tracks total energy, water, waste and scope 1 & 2 GHG emissions. The use of this EMS allows us to reduce our environmental footprint, comply with regulations, and demonstrate our commitment to sustainability.

Social When it comes to reducing social risk, National Development has implemented standards and policies around child labor, community development, customer satisfaction and employee engagement, health and safety of employees and suppliers, as well as stakeholder relations.

Governance Having policies around risk assessments in the governance space allows us to ensure that we operate ethically, transparently, and in alignment with our objectives while mitigating potential issues that could lead to financial, legal, or reputational harm. Our policies include those that address potential governance risk such as a zero-tolerance policy, due diligence policies, and a whistleblower policy.

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Risk Management in Development The design and development of new buildings, based upon environmental best practices in sustainability and resiliency, will allow us to have the greatest impact on our portfolio of assets. We recognize that green design has a positive impact on public health and the environment, while also reducing long-term operating costs, increasing occupant productivity and demonstrating a commitment to a sustainable community.

Our focus on green design contributes to a sustainable environment by reducing energy and natural resource consumption while also reducing waste and pollutant byproducts.

Environmental Risk Assessments: National Development is committed to upholding sustainable site selection practices through our acquisition and development efforts. Similarly, we believe that focusing on the protection, restoration and conservation of the ecological functions surrounding our development sites will both foster a positive relationship with communities and stakeholders, and increase the value of our assets.

We are committed to specifying materials and products that are environmentally responsible.

We do this by:

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Placing an emphasis on brownfield sites and redevelopment opportunities

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Establishing site plans that allow us to protect, restore, and conserve aquatic ecosystems and floodplains when possible.

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Identifying opportunities to protect, restore, and conserve habitats for native, threatened, and endangered species

National Development | 2024 - 2025 Corporate Responsibility Report

Social Risk Assessments: Community support in the places where our projects are located is critically important to ensuring the successful delivery of our assets. Commencing with due diligence and extending throughout the entitlement process, National Development is committed to maintaining an open and participatory approach to community engagement.

We accomplish this by considering: •

Integrated planning processes to align and achieve objectives

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The possible connection to multi-modal transit networks

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The potential to restore, create, or enhance areas for public use

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Inclusive design that accommodates individuals of different religions, genders and gender identities, ages, ethnicities and experience levels

Governance Risk Assessments: National Development partners with our third-party project teams, including general contractors, architects, engineers and vendors, to ensure that our negative direct and indirect impact to construction sites is minimized. Our general contracting partners must be aligned with our corporate responsibility objectives including business ethics policies, child labor policies, labor standards, human rights policies, and more.

In evaluating the potential impact a project will have on a site, we consider the following: •

Products that comply with the latest Health, Safety & Environment (HSE) legislation

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Clear communication of safety information through multiple mediums

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Timely management of identified safety risk

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Demonstration of safety leadership through established standards and action

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Impact to under-represented groups and any necessary training

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Looking Forward Actions Toward Achieving Our Goals The pathway to enhancing our GRESB score, given its comprehensive coverage of ESG criteria, serves as the catalyst for achieving 90% of our broader corporate responsibility objectives. The goals we are advancing toward in 2025 include:

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Increasing our data coverage for more accurate usage metrics

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Continuing our dedication to philanthropy and pro bono efforts

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Pursuing building certifications and assessments for stabilized assets and targeting LEED certifications for all new developments

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Maintaining our focus on diversity initiatives and preserving a healthy and inclusive workplace

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Continuing to use sustainability best practices throughout our portfolio, with a focus on new development

•

Improving the environment around us, both in the communities in which we build and in the workplace

National Development | 2024 - 2025 Corporate Responsibility Report

National Development | 2024 - 2025 Corporate Responsibility Report

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National Development | 2024 - 2025 Corporate Responsibility Report

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