First Capital Real Estate Investment Trust

Governance of ESG, including climate-related issues, occurs at the Board level. The Chair of the Governance and Sustainability Committee is directly responsible for oversight of ESG matters at the Board level. The Board regularly receives updates and presentations on ESG matters, annually at a minimum, from the FCR ESG team, and reviews environmental risks quarterly. We also engage external experts to provide climate-related education to the Board. Since 2020, the Board and Management team has received several educational opportunities with respect to ESG matters, including presentations from the Canadian Climate Law Initiative to improve climate knowledge, the Canada Green Building Council, EY Canada and from First Capital REIT's Vice President, ESG. [...] The Senior Vice President (SVP), General Counsel and Corporate Secretary is the highest-level management position responsible for operational level ESG management at First Capital REIT. The SVP, General Counsel and Corporate Secretary is a member of the Executive Leadership Team and reports directly to the President & Chief Executive Officer (CEO). [...] Ongoing oversight of ESG and climate-related issues is carried out by the ESG Task Force, co-chaired by First Capital REIT's Chief Operating Officer and Vice President, ESG and attended by Executive and Senior leadership representatives from all areas of the business. The Task Force meets quarterly and is the senior forum for developing and implementing ESG strategy and commitments, assessing and managing climate-related risks and opportunities, reviewing performance and integrating ESG practices and initiatives across the organization.

Assign a Board Trustee as responsible for ESG strategy oversight. [...] Ensure mechanisms to embed ESG Roadmap in business planning and monitor progress for corrective action (e.g. define Executive responsibilities and accountability for Roadmap progress, KPIs included in performance management and accountability of relevant business units, annual reporting on KPIs and targets).

##### Governance

###### 15. CORPORATE GOVERNANCE

We strive to be a governance leader by making it a priority to continuously adopt new and improved governance practices, including ESG oversight and execution, and follow recommendations as governance standards evolve.

**Board and Executive Diversity: Encourage a diverse Board and Management Team, resulting in enhanced decision-making abilities, lead to improved oversight and promote better overall**
15.1
corporate governance by utilizing differences in skills, experience and background, gender, ethnicity, age, geographical and industry experience, length of service, and other distinguishing qualities.

Issue a voluntary survey to the Board and senior management to determine the number
and proportion of individuals that self-identify as belonging to one or more of the designated Issue survey and publish results Legal
minority groups.

Review the structure and diversity of the Board annually and set diversity, including gender diversity, Corporate Governance
aspirations regarding the Board's optimum composition as part of the recruitment process. Committee

15.2 **ESG Governance: Establish an ESG Governance structure that includes the Board of Trustees and ensures successful integration and implementation of the ESG Roadmap across the company.**

|Issue a voluntary survey to the Board and senior management to determine the number and proportion of individuals that self-identify as belonging to one or more of the designated minority groups.|Issue survey and publish results|Legal|Complete|
|---|---|---|---|
|Review the structure and diversity of the Board annually and set diversity, including gender diversity, aspirations regarding the Board's optimum composition as part of the recruitment process.||Corporate Governance Committee|Ongoing|

|Implement annual ESG training for the Board.|Col2|Legal|Complete|
|---|---|---|---|
|Assign a Board Trustee as responsible for ESG strategy oversight.||Legal|Complete|
|Include ESG in Board Competency matrix.||Legal|Complete|
|Ensure mechanisms to embed ESG Roadmap in business planning and monitor progress for corrective action (e.g. define Executive responsibilities and accountability for Roadmap progress, KPIs included in performance management and accountability of relevant business units, annual reporting on KPIs and targets).||ESG Taskforce|Complete|

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]The Senior Director, ESG communicates with the senior management and executive leadership teams through emails, performance reports and formal meetings on
various sustainability issues. Relevant roles across varying levels in the organization are aware and educated on our overall climate change strategy. When a representative of the organization is approached to participate in a panel or event related to sustainability matters such as climate change, the Senior Director, ESG is engaged to assist with preparing a response or speaking notes, ensuring alignment with our strategy.

Describe the process(es) your organization has in place to ensure that your external engagement activities are consistent with your climate commitments and/or climate transition plan?[…]The VP, ESG communicates with the senior management and executive leadership teams through emails, performance reports and formal meetings on various sustainability issues. Relevant roles across varying levels in the organization are aware and educated on our overall climate change strategy. When a representative of the organization is approached to participate in a panel or event related to sustainability matters such as climate change, the VP, ESG is engaged to assist with preparing a response or speaking notes, ensuring alignment with our strategy.

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes