Southeast Asia Property Development Overview

Net-Zero Ambition Action Plan Before 2021 B Significantly reduced water use and waste 2021 2022 2023 2024 2030 2035 B Established solar-powered malls and began energy-efficiency programs Played a pivotal role in establishing and growing ARISE-Philippines, the local network of ARISE Global, the Private Sector Alliance for Disaster Resilient Societies Joined the ranks of over 2,500 companies globally in affirming our commitment to the Task Force on Climate-related Financial Disclosures (TCFD) goals and taking a major commitment towards decarbonization with our 50% renewable energy sourcing Adopted the Corporates for a Better Planet Initiative (CBPI), WWF-Philippines' flagship program. CBPI provides SM Prime with an actionable framework to operate sustainably and employ a robust reporting framework to address climate change Aligned with the SM Group of Companies' climate position statement, putting equal importance on climate mitigation and adaptation Publish the SM Prime Group-wide Sustainability Policy Complete the CBPI Measure Phase, resulting in the development of SM Prime's near-term science- based target, a verification of existing GHG inventory and methodologies, a regional and local industry scan of companies in the real estate industry, a climate scenario analysis which includes carbon pricing and geospatial analysis, and a summary of recommendations for the Company Begin the CBPI Manage Phase, providing solutions to achieve the science-based target outlined in the Measure phase. This phase will be highly bespoke and tailored to align with SM Prime's short-, medium-, and long-term strategies and capital flows. Managing these key solutions entails a robust network of both projects and solution providers, which is the purview of CBPI Achieve CBPI Maintain Phase, ensuring all targets and data are assessed regularly, considering any new factors or strategic directions that may have occurred within the year. CBPI is a continuously evolving and optimized process, and this phase ascertains that any projects or solutions undertaken in the Manage phase are on track to reach the targets set in the Measure phase Achieve near-term science-based target Achieve long-term science-based target 2040 Achieve Net Zero. 2050 - Global commitment to achieve net zero

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