OUE Commercial REIT - Annual Report 2021

Who We Want to Be The Manager’s key objective is to deliver regular and stable distributions, and long-term sustainable growth to holders of units in OUE C-REIT (“Unitholders”). In striving towards this objective, we are guided by our key strategies which are maximising operational performance, value-enhancing investment management and proactive capital and risk management. More details can be found in the Strategy section on pages 12 and 13. In addition to serving Unitholders, OUE C-REIT is passionate about creating social ecosystems to enrich and benefit our other stakeholders, while serving the local communities in which we operate. OUE C-REIT is committed to embedding sustainability into our operations and working towards building a sustainable future for all of our stakeholders. We are guided by our sustainability framework which defines three key areas of focus – Stewarding the Environment, Strengthening Social Fabric and Building Trust, which is outlined in further detail on pages 82 to 84. ABOUT THIS REPORT This report is the fifth annual sustainability report published by OUE C-REIT. It has been prepared in accordance with the GRI Standards: Core option, and complies with SGX-ST Listing Rules 711A and 711B. OUE C-REIT has adopted the GRI Standards due to its suitability to our business and high relevance to many stakeholders. In addition, it is one of the most commonly used sustainability reporting frameworks globally and thus allows for better comparability with peers’ performance. The report covers the performance data from OUE C-REIT’s commercial and hotel properties in Singapore and Shanghai for the financial year 1 January 2021 to 31 December 2021. The Sponsor’s internal audit team was involved in the data verification process. Environmental performance data from OUE Bayfront (including OUE Tower and OUE Link), One Raffles Place, OUE Downtown Office, Mandarin Gallery, MOS and Crowne Plaza Changi Airport (“CPCA”) in Singapore, as well as Lippo Plaza in Shanghai were covered in the FY 2021 reporting scope. While OUE C-REIT divested a 50% interest in OUE Bayfront in March 2021, the Manager continues to retain full operational control of the property and hence has reported its environmental performance data on a 100% basis. For social topics, the data includes only the Manager and the property managers of One Raffles Place and Lippo Plaza due to the holding structure of OUE C-REIT’s interest in these two properties. The Manager strives to enhance the internal data collection process and expand the scope of disclosure where feasible. From FY 2021, we have expanded the reporting scope to cover both landlord- and tenant-controlled areas for some of our environmental performance indicators. This expansion in reporting scope brings about greater data completeness and will help the Manager to have better oversight of OUE C-REIT’s environmental performance. To ensure the new data submitted were accurate and relevant, the Manager conducted online training for staff involved in the data collection process. We continue to collect additional environmental data, including emissions from refrigerants, and fuel usage from onsite generators and company-owned vehicles from our properties, wherever applicable, for more comprehensive scope 1 GHG emissions reporting. In FY 2021, fuel usage from onsite generators is applicable to One Raffles Place, OUE Downtown Office, Lippo Plaza and CPCA, while fuel consumption from company-owned vehicles pertain only to Lippo Plaza. In view of the expanded scope to include tenant-controlled areas from all our properties within the FY 2021 reporting period, we have restated some of our environmental performance figures from FY 2017 to FY 2020 to include contribution from tenant-controlled areas under OUE C-REIT’s portfolio as at 31 December 2021, as well as new information provided by our property managers. Please see relevant sections under “Stewarding the Environment” from page 84 for the revised environmental performance and information. The Manager has not sought external assurance on this report but may consider doing so in the future. Please contact us if you have any questions about this report or OUE C-REIT’s sustainability practices at enquiry@ouect.com. 79 A N N U A L R E P O R T 2 0 2 1