2021 COMMITMENTS AND PERFORMANCE

Environment 2021 Commitments

Set long-term energy performance targets

Complete Greenhouse Gas (“GHG”) intensity analysis

Provide Resident Member education on water conservation and waste behaviors

Conduct waste audits at select sites

Results/Initiatives

The Trust is pleased to announce its reduction in both energy and water consumption targets, whereby the Trust aims to reduce both its energy and water consumption by 15% by 2030 (using 2019 as its baseline).

In 2021, a GHG intensity analysis was completed, which identified those properties which have higher GHG emissions on a per square foot basis. In addition, all properties are benchmarked for GHG emissions.

Various Resident Member engagement initiatives were completed across the portfolio throughout the calendar year. Examples include, but are not limited to: (1) a Resident Member Sustainability Contest, where Resident Members provided suggestions on sustainability improvements and the winning ideas will be implemented; (2) updated signage explaining the difference between waste, recycling and composting; and (3) a cold water washing campaign which included explaining the environmental benefits of cold water washing.

During 2021, waste audits were completed at select sites to help Boardwalk better understand its waste composition. In addition, the Trust entered into partnership with CheckSammy, a sustainability company which provides collection bins for all household recyclable and reusable goods.

L'Astre Quebec City, QC

Social

Governance 2021 Commitments

Introduce an eNPS to our Associates

Broaden the reach of our Wellness Committee

Better understand our ethnic diversity while continuing to focus on inclusion

Work with suppliers to implement a Supplier Code of Conduct

Results/Initiatives

We introduced our Employee Net Promoter Score (“eNPS”) in 2021, and earned a preliminary score of 61 for fiscal 2021. The goal of having an eNPS is to both engage with our Associates while also gaining a better understanding of Associate sentiment.

We introduced the Bwell Certification Program which was the culmination of Boardwalk’s long-standing commitment to health and well-being of our Communities, Resident Members and Associates. In addition, Boardwalk completed a wellness survey which was offered to all Associates and aimed to better understand our Associates needs and wants. This survey resulted in the expansion of our internal wellness website with content focused on findings from the wellness survey.

During 2021 the Trust established a Diversity, Equity and Inclusion (“DEI”) Committee and through the committee conducted a preliminary survey to better understand our Associates. Results of this survey can be found on page 47 of this report.

During 2021, we developed a Supplier Code of Conduct which we are beginning to work through with select suppliers to determine if modifications are required. We will continue to work through this initiative in fiscal 2022.

Increase ESG disclosure on our website The Trust continues to update the website on a timely basis.

Complete second annual GRESB assessment The Trust is pleased to announce that it completed its second GRESB assessment with an improved score of 47% from 47 in 2020 to 69 in 2021.

Evaluate the GRI framework, SASB framework and TCFD requirements

Further involve the Board of Trustees in ESG approach, risk evaluation and processes When preparing this report, the GRI framework, SASB framework and TCFD requirements were considered. Please refer to the ESG Disclosure Indexes beginning on page 65.

The Board continued to be involved with ESG, including discussions around the Trust’s ESG approach and risk evaluation. More recently, the Board approved the Trust’s long-term energy and water reduction targets.