ESG Initiatives and Development Overview

4.0 FUTURE INCREMENTAL DENSITY - ENTITLEMENTS PROGRAM · FCR submitted entitlement applications for 15.1m sf or 65% of its incremental density pipeline · FCR expects to recognize increased IFRS values as previously submitted and future submissions are approved sf in millions Residential Commercial Total Incremental Pre-2019 Entitlement Applications (1) 3.0 0.7 3.7 3.5 2019 Entitlement Applications 8.1 1.0 9.1 8.5 2020 Entitlement Applications 2.5 0.3 2.8 2.7 2021 Entitlement Applications 1.5 0.0 1.5 1.4 Total Entitlement Applications 15.1 2.0 17.1 16.1 (1) Disposed of Place Panama (Phase I) in Q4 2020 which included 1.0m sf of previously zoned density First Capital 23

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