Docreit 2022 ESG report

Physicians Realty Trust proudly celebrates a “Decade of DOC” this summer, marking the 10th anniversary of our IPO in July 2013. The cover artwork features a collage of significant acquisitions from our annual reports, showcasing our growth as we enter our second decade of owning and managing the highest-quality outpatient medical facilities.

As we celebrate 10 years in business on July 19, 2023, Physicians Realty Trust (NYSE: DOC) remains steadfast in our commitment to owning outpatient medical facilities that create positive economic, social, and environmental outcomes for a wide range of stakeholders—a key business objective that has been instilled in our company’s value system since our founding.

Our sustainability efforts are aligned with 12 of the 17 United Nations Sustainable Development Goals (UN SDGs). We have included icons at the beginning of each section to indicate the UN SDGs with which our sustainability efforts are aligned. See the Appendices for additional information on how DOC’s ESG activities contribute to the UN SDGs.

Letter to our Stakeholders About DOC ESG Strategy

ESG Highlights Stakeholder Engagement Industry Associations & Partnerships

Assessment

Disclosure, Guidance Frameworks, & Assurance

LETTER TO OUR STAKEHOLDERS

GRI 102-12, 102-14, 102-15, 102-20

As we share our fourth annual ESG Report with you, we reflect on the tremendous progress that DOC, together with our partners and stakeholders, made in 2022.

In 2022, we made strides forward in our sustainability journey, even as the year presented continued challenges like global energy market instability, supply chain obstacles, and high inflation. DOC capitalized on strategic opportunities to advance our goals while carefully managing our incremental investments. We believe our investments in outpatient medical facilities and our sustainabilitydriven building management practices contribute to lowering health care costs for patients at our facilities every year.

DOC’s award-winning national asset and property management teams continued to manage our facilities with the health and well-being of our health care provider partners and communities front and center. In 2022, we continued to advance our sustainability efforts by:

• Achieving ENERGY STAR® Certification Nation Premier Member status as a result of receiving 16 new property certifications, totaling 26 certifications since 2021

• Earning 10 new Institute of Real Estate Management (IREM®) Certified Sustainable Property designations, totaling 38 certifications since 2019

• Identifying and executing diversity, equity, and inclusion (DEI) initiatives in the areas of recruitment and development, company policies, and community outreach

• Increasing our spending with certified diverse vendors by 102% over a 2020 baseline while setting ambitious new supplier diversity targets

Through our sustainability leadership, we earned the following industry distinctions:

• ENERGY STAR® Partner of the Year recognition for the second time in three years

• Global Real Estate Sustainability Benchmark (GRESB) Public Disclosure Level score of 98 out of 100, ranking first in our health care comparison group

• GRESB Green Star rating and a score of 75 out of 100 for the second consecutive year

• 2022-2023 Green Lease Leaders Platinum Certification by the Institute for Market Transformation and the Department of Energy Better Buildings Alliance, the only health care REIT attaining this designation

• ISS ESG Corporate “Prime” rating, recognizing our dedication to ESG performance and disclosure

• Recognized for Excellence in DEI by the CRE Insight Journal

• Top Workplaces honors from the Milwaukee Journal Sentinel for the sixth consecutive year in 2023

• Modern Healthcare Best Places to Work recognition for the third consecutive year in 2023

• Bloomberg Gender-Equality Index member as a first-time submitter in January 2023

Our smart investments, strong leadership, and steadfast commitment to excellence continue to position DOC for long-term success.

Hunger Task Force Farm Day | August 2022

Letter to our Stakeholders About DOC ESG Strategy

ESG Highlights Stakeholder Engagement Industry Associations & Partnerships ESG Materiality Assessment

ESG Disclosure, Guidance Frameworks, & Assurance

Heading into 2023, we took additional steps to refine our ESG team, including hiring Jordan Ivans as our Director of Sustainability and Energy Project Management in a newly-created position. We also modified our executive compensation plan to tie a portion of incentive pay to performance against our ESG goals.

These enhancements are part of our efforts to provide transparent reporting on our goal progress as we work to drive better results for our stakeholders.

We’re proud to celebrate our real, meaningful, and measurable milestones, yet we recognize that our progress is

simply another step forward for DOC as we continue to Invest in better® to become ESG leaders in the real estate industry. We invite you to review our work and see how DOC is making a difference to benefit the health and well-being of our clients, shareholders, employees, and the communities we serve.

As we approach our 10th anniversary on July 19, 2023, celebrating a Decade of DOC, we look forward to continuing to share our ESG journey with you in the years ahead.

Respectfully,

John T. Thomas President & Chief Executive Officer

Governor Tommy G. Thompson Chairman, Board of Trustees

ESG Committee

Tim Bowar, David Domres, Michael Farinawicz, Greg Gallagher, Jordan Ivans, Allison King, Libby Langenderfer, Leann Mester, Kat O’Connell, Amy Sovine, Andrea Srock, and Mark Theine

DOC

Milwaukee Riverkeeper Earth Day Clean Up | April 2023

Letter to our Stakeholders About DOC ESG Strategy

ESG Highlights Stakeholder Engagement Industry Associations & Partnerships ESG Materiality Assessment

ESG Disclosure, Guidance Frameworks, & Assurance

ABOUT DOC NEW

GRI 102-1, 102-2, 102-3, 102-4, 102-6, 102-7, 102-15, 102-16, 103-1, 103-2, 103-3, 201-1

Celebrating a Decade of DOC

ON JULY 19, 2023

Physicians Realty Trust (NYSE: DOC) helps medical providers, developers, and shareholders deliver better health care, better communities, and better returns through our relationship-driven investments in real estate, integral to providing high-quality health care services. At DOC, we Invest in better® for our clients so our health care provider partners and their patients can thrive—today and in the future. Here’s how

BROADER & DEEPER HEALTH CARE EXPERTISE

Our team knows health care. With expertise in health care executive management, operations, policy, law, and finance, our team is uniquely skilled at building partnerships, ensuring our clients have the real estate resources to produce superior patient care now and in the future.

DEALS THAT BENEFIT ALL PARTIES

When we assess a potential acquisition, we’re looking to serve our shareholders alongside the health care systems, physician groups, and outpatient medical developers who are building better communities. Our investments are never “one-size-fits-all,” but are structured to meet the unique needs and goals of all parties involved.

Publicly traded on the NYSE since 2013 and included in the S&P MidCap 400 Index, the company is organized as a real estate investment trust (REIT) that selectively owns and manages a portfolio of outpatient medical properties in the United States, typically located on a hospital-anchored campus or strategically affiliated with health care systems.

HIGHEST-QUALITY PROPERTIES & TENANTS

Through demonstrated performance since our inception, we’ve earned the trust of physicians, hospitals, and other health care providers across the country. As a result of these long-standing and deep relationships, we are the preferred real estate partner for many of the highest-quality health care providers in the industry.

OUR CORE VALUES

Above all, DOC is dedicated to C.A.R.E.: Collaborate and Communicate, Act with Integrity, Respect the Relationship, and Execute Consistently.

COLLABORATE & COMMUNICATE.

We have developed a collaborative culture of mutual respect, and every team member has a sense of pride in what we accomplish together. We strive for true partnerships, working toward a common purpose and shared success.

ACT WITH INTEGRITY.

Integrity and transparency are at the heart of all that we do. We believe that performing to the highest standards on behalf of our health care partners, team members, and investors is fundamental to our identity as a company.

VALUE CREATION AT DOC NEW

This report outlines our approach to ESG matters, building on the content in our Annual Report/Form 10-K and our Proxy Statement, available on our website, to tell the full story of DOC’s long-term value creation.

As part of our reporting efforts, we aim to:

• Foster an environment to improve the patient experience at our properties through intelligent capital investments

• Continually improve the quality of disclosures to our corporate stakeholders through cohesive messaging

• Enhance internal accountability and long-term stewardship for our financial and sustainability efforts and goals across our ESG platform

• Promote integrated thinking and decision-making that create value over the short, medium, and long term

• Communicate the long-term value of DOC as an owner of mission-critical health care real estate

RESPECT THE RELATIONSHIP.

We continually support our partners so they can provide outstanding health care services in their communities. We are committed to providing industry-leading customer service.

EXECUTE CONSISTENTLY.

We deliver on our promises the first time and every time. By promoting a culture of innovation and creativity, and above all, consistency, we exceed our clients’ expectations.

We see value creation as a type of return. This effort takes many forms, including more resilient business operations, better competitive positioning amongst our peers, improved social, economic, and environmental outcomes, well-managed risk, and increased societal well-being. We embody these efforts in our Invest in better® mission. It’s part of what drives our nationwide team to greater heights every day.

About DOC Letter to our Stakeholders ESG Strategy

ESG Highlights Stakeholder Engagement Industry Associations & Partnerships ESG Materiality Assessment

ESG Disclosure, Guidance Frameworks, & Assurance

ESG STRATEGY

GRI 102-16, 103-1, 103-2, 103-3

At DOC, our mission is supported by ESG principles that are firmly integrated into how we manage our nationwide portfolio. In short, we believe that ESG not only helps us be a better business, but as a long-term owner of medical real estate— it is foundational to our business.

DOC has adopted a holistic approach to ESG, ensuring our nationwide portfolio’s economic viability, operational efficiency, natural resource conservation, and social responsibility.

DEFINING ESG AT DOC

DOC capital projects follow our G2 Sustainability℠ philosophy, emphasizing practical “green” environmental initiatives that result in “green” cost savings over time. We prioritize the well-being of our team, health care partners, and patients while upholding the highest standards of ethics and corporate governance

opportunities to improve

Engage stakeholders in ESG Materiality Assessment, commit to ongoing ESG education, and set targets following key ESG frameworks

Track progress against targets using tools such as ENERGY STAR®

Portfolio Manager®

Establish success criteria, a training plan, and communication methods and deploy using an integrated team approach

WE L.E.A.P. FOR ESG SUCCESS

Communicate successful initiatives and evaluate

ESG Strategy Letter to our Stakeholders About DOC

ESG Highlights Stakeholder Engagement Industry Associations & Partnerships ESG Materiality Assessment

ESG Disclosure, Guidance Frameworks, & Assurance

ESG DISCLOSURE, GUIDANCE FRAMEWORKS, & ASSURANCE

GRI 102-12, 102-15, 102-43, 102-46, 102-54, 102-56, 103-3

DOC discloses comparable and consistent ESG information through globally recognized frameworks that guide the development of our processes, policies, and goals.

GRESB

DOC received a GRESB Green Star ranking, earning a score of 75 on our 2022 GRESB assessment for the second consecutive year. We also received a Public Disclosure Level score of 98 out of 100, ranking first in our health care comparison group, a testament to our exceptional transparency in sustainability reporting.

GLOBAL REPORTING INITIATIVE (GRI)

This is our second report aligned with the GRI Standards (Core option). The GRI Index can be found on pages 60-68.

SUSTAINABILITY ACCOUNTING STANDARDS BOARD (SASB)

Our ESG Report aligns with the SASB framework for real estate with details on pages 69-71

TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES (TCFD)

Since 2020, and with added enhancements for our 2022 reporting cycle, we’ve included climate-related disclosures in alignment with recommendations from the TCFD. These disclosures can be found on pages 21-23

UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS (UN SDGS)

Since the release of our 2019 ESG Report, our efforts have been aligned with the UN SDGs, represented at the beginning of each section of this ESG Report and within the UN SDGs Index pages 57-58

SCIENCE BASED TARGETS INITIATIVE (SBTi)

Our science-based emissions reduction targets were validated by the SBTi in 2022 to align with a “Well-below 2° C” strategy.

DATA VERIFICATION

ISOS Group, Inc. provided an independent third-party, moderate-level assurance of environmental data for the calendar year ending December 31, 2022, including energy, water, waste, and greenhouse gas emissions calculations. This moderate assurance engagement was performed under the AccountAbility 1000 Assurance Standard (AA1000AS). The assurance statement may be found on pages 72-73

ESG Disclosure, Guidance Frameworks, & Assurance Letter to our Stakeholders About DOC ESG Strategy

ESG Highlights Stakeholder Engagement Industry Associations & Partnerships ESG Materiality Assessment

2023 ENERGY STAR® Partner of the Year Award (2nd Year)

2022-2023 Green Lease Leaders Platinum Certification, the only health care REIT attaining this designation

2022 ENERGY STAR® Certification Nation Premier Member

2022 & 2023 Modern Healthcare Best Places to Work (3rd Year)

2022 & 2023 Milwaukee Journal Sentinel Top Workplaces (6th Year)

2022 Kingsley Associates Award for Tenant Satisfaction

2023 Bloomberg Gender-Equality Index

ISS ESG Corporate “Prime” Rating for ESG Performance and Disclosure

2022 CRE Insight Journal Excellence in Diversity, Equity, and Inclusion (DEI) Award

2022 NAIOP Wisconsin THRIVE Award for “MKE CRE” DEI Program

2022 International Marcom Gold Award for ESG Report Design

2022 GRESB Public Disclosure Level score of 98 out of 100, overall score of 75 out of 100 (2nd Year), and Green Star (2nd Year)

ENVIRONMENTAL ACHIEVEMENTS

MATERIAL ESG TOPIC SHORT-TERM GOAL 2022 PROGRESS LONG-TERM VISION (2023 & BEYOND)

GHG Emissions & Climate Change Resilience

40% reduction in GHG emissions by 2030 over a 2018 baseline

• 20.8% reduction in operational Scope 1 and 2 GHG emissions (MTCO2e)

• SBTi validated climate goals (well-below 2°C)

Energy Use & Renewables

20% reduction in energy use by 2024 over a 2018 baseline

• 8.8% reduction in energy use (kBtu/ft2)

• Deployed a new 134kW rooftop solar array in Hartford, CT, projected to generate 159,545 kWh of carbon-free energy per year for the local grid

Water Conservation

15% reduction in water usage by 2024 over a 2018 baseline

• 6.0% reduction in water use intensity (gal/ft2)

• In 2023, in honor of Earth Day, organized portfolio-wide water conservation and education events at multi-tenant properties

Waste Management & Recycling

20% increase in waste diversion by 2024 over a 2018 baseline

• 6.8% increase in waste diversion from landfills

• Added additional recycling sites, resulting in an additional 50 metric tons of landfill diversion

• Ongoing Goal: Track transitional and physical risks in our portfolio and refine mitigation plans for high-risk locations

• Ongoing Goal: Include energy-efficient projects in our capital plan, optimize property operations, and use feasible onsite/offsite renewable energy sources

• Ongoing Goal: Increase water-use efficiency and ensure sustainable water withdrawals

• Ongoing Goal: Leverage national waste agreements to increase efficiency and provide portfolio-wide reporting for better decision-making

Financial Performance & Portfolio

Benchmarking

Capital Investments: Dedicate $5M annually to sustainability projects

Benchmark for Excellence: Earn property certifications and report using industry frameworks

• 31 sustainability-driven capital expenditure projects totaling $5.6m with 5.1 years average return on investment and $10.6M in 10-year operating savings

• 26% GLA under IREM CSP, ENERGY STAR®, or LEED certification

To learn more about our reporting group, visit the Benchmarking & Methodology section on page 24.

• NEW 2023-2025 Goal: Invest $15M in sustainability-driven capital projects (average $5M/year)

• 2023-2025 Goal: Acquire 10 new certifications annually while renewing existing ones at a rate of 50%

• NEW 2023-2025 Goal: Average GRESB Score target above 75

• NEW 2023-2025 Goal: Maintain Green Lease Leader recognition

ESG Highlights

Letter to our Stakeholders About DOC ESG Strategy

Stakeholder Engagement Industry Associations & Partnerships ESG Materiality Assessment

ESG Disclosure, Guidance Frameworks, & Assurance

SOCIAL ACHIEVEMENTS

MATERIAL ESG TOPIC SHORT-TERM GOAL

Culture & Team Member

Engagement

600 hours of volunteering

$375,000 in philanthropic, fundraising, and in-kind donations

C.A.R.E.: Build and protect our awardwinning culture

2022 PROGRESS LONG-TERM VISION (2023 & BEYOND)

• 455 hours of team volunteer efforts & 447 hours of individual Volunteer Time Off (VTO) efforts

• $408,800 in philanthropic and charitable support

• Team Recognition: Modern Healthcare Best Places to Work (3rd year) & Milwaukee Journal Sentinel Top Workplaces (6th year)

• NEW 2023-2025 Goal: DOC team volunteer hours, totaling 2,000 over three years

• NEW 2023-2025 Goal: Earn annual Best Places to Work recognition

Health & Safety Support our Team: Offer increased mental health and well-being resources

• NEW Wrapround Support: Added 8 hours of mental health programming and support, including paid access to an award-winning mental health and wellness app, and a new yearly paid time off day for mental health and wellness

Training, Development, & Retention

Attract & Retain Top Talent: Evaluate benefits to ensure DOC remains competitive Training & Programming Targets: 30 hours of team training and programming efforts

• NEW Benefits & Retention: DOC offers at least $18 per hour wages to all full-time team members

• NEW 2023 Wellness Reimbursement Program: Fosters a healthy lifestyle for our team members

• NEW 2023 Onboarding Buddy Program: Pairs new and seasoned new team members to improve talent retention

• 94% 2022 Employee Retention Rate: year-over-year increase of over 4%

• Exceeded Goal by 107.5%: 62.25 hours of team training, DEI, and programming efforts

• NEW 2023 Goal: Revision of Employee Handbook to incorporate enhanced health and safety procedures

• Ongoing Goal: Support our team members’ health and wellness to promote work-life balance

• NEW 2023-2025 Goal: Three-year average annual voluntary team member turnover is less than 10%

• NEW 2023 Goal: Enhance plans to support team leadership training and enrichment opportunities for professional development

• NEW Ongoing Goal: Continue to offer at least $18 per hour wages to all full-time team members

ESG Highlights

Letter to our Stakeholders About DOC ESG Strategy

Stakeholder Engagement Industry Associations & Partnerships ESG Materiality Assessment

ESG Disclosure, Guidance Frameworks, & Assurance

SOCIAL ACHIEVEMENTS (CONT.)

MATERIAL ESG TOPIC SHORT-TERM GOAL

Diversity, Equity, & Inclusion

Supporting Gender Equality: Monitor and report on the company’s gender diversity, creating opportunities to support leaders who identify as female

Build CRE Diversity Pipeline: Hire 50%+ diverse candidates (representing those who identify as female, veteran, LGBTQIA+, or BIPOC) for summer internships and partner with local and national organizations impacting DEI

2022 PROGRESS

• NEW Gender-Based Reporting: 2023 Bloomberg Gender-Equality Index (1st year)

• Summer interns were 75% diverse

• 13 hours of DEI team programming offered

• Key organizer and supporter of summer high school immersion program, MKE CRE, working to build a pipeline of future real estate leaders from underrepresented populations

Our Health Care Partners & Communities

Enhance Reporting: Create a new section in the report to spotlight this key stakeholder group

• NEW Added Disclosures: Biodiversity, Client Health & Safety, Sustainable Finishes, and Client Feedback & Communication sections added to reporting

LONG-TERM VISION (2023 & BEYOND)

• NEW 2023-2025 Goal: Earn & maintain Bloomberg Gender-Equality Index recognition

• NEW 2023-2025 Goal: 100% team participation in DEI training (minimum 4 hours annually)

• Ongoing Goal: Offer yearly “Women in Leadership” event

• NEW Ongoing Goal: 90% positive tenant work order satisfaction rating

• NEW Ongoing Goal: 80% positive overall tenant satisfaction rating in our anonymous annual survey

ESG Highlights

Stakeholder Engagement Industry Associations & Partnerships ESG Materiality Assessment

ESG Disclosure, Guidance Frameworks, & Assurance

GOVERNANCE ACHIEVEMENTS

MATERIAL ESG TOPIC SHORT-TERM GOAL

Supply Chain Management 2022-2024: 10% increase in property-level controllable spend with certified diverse vendors (CDV) over a 2020 base year

Corporate Governance, Business Integrity, Human Rights, & Anti-Corruption

Ongoing Stakeholder Engagement: Conduct annual ESG materiality survey

Benchmarking for ESG Success: Implement new ESG metric to our 2023 long-term incentive plan

2022 PROGRESS

• NEW Exceeded Goal by 102%: Exceeded 3-year CDV spend goal, from $1.45 M in 2020 to $2.92 M in 2022

LONG-TERM VISION (2023 AND BEYOND)

• NEW 2023-2025 Goal: Obtain bids from CDV for at least 30% of contracts over $100,000 as part of our property-level controllable spend, with 10% of such contracts awarded to qualified CDV

• NEW Revised Vendor and Supplier Code of Conduct and Human Rights Statement

• NEW Quantitative and qualitative ESG scorecard connects our NEOs’ incentive compensation to our ESG performance

• Added additional thought leadership, diversity, and female representation to our Board of Trustees through the appointment of Ava Lias-Booker, Esq.

• Published annual Materiality Assessment results

• Ongoing Goal: Adopt, regularly review, and refine corporate governance policies that promote transparency and accountability across our company

Data Security Assess Cybersecurity Disclosures, Systems, and Training

• Performed penetration testing of our core IT systems, conducted semi-annual reviews of our Security Breach Incident Response Plan, and completed annual cybersecurity training for employees

• NEW 2023-2025 Goal: 100% team participation in annual cybersecurity training

• Ongoing Goal: Regularly review, assess, and refine cybersecurity disclosures, systems, and training

ESG Highlights

Letter to our Stakeholders About DOC ESG Strategy

Stakeholder Engagement Industry Associations & Partnerships ESG Materiality Assessment

ESG Disclosure, Guidance Frameworks, & Assurance

STAKEHOLDER ENGAGEMENT

GRI 102-21, 102-29, 102-37, 102-40, 102-42, 102-43, 102-44, 102-46, 102-47, 103-1, 103-2, 103-3, 413-1

A core principle underlying our performance expectations is responsiveness to the needs of our community, team members, partners, and shareholders. Ongoing stakeholder engagement is vital to deepen our relationship and gain insight into their priorities. We do this in a variety of ways:

OUR APPROACH TO STAKEHOLDER ENGAGEMENT CATEGORY INVOLVEMENT TACTICS

Corporate Audience Shareholders, ESG Rating Firms, Fixed-Income Investors, Proxy Advisory Firms, and Prospective Shareholders

Company Level

• In-person or virtual meetings and conferences

• Annual meeting and quarterly earnings calls

• Public disclosure reports, including our Annual Report, 10-K, 10-Q, Proxy, ESG Report, and participation in GRESB Assessment

• docreit.investors.com website with stock information and news and events

• Property tours

• Inclusion in our annual ESG Materiality Assessment

Team Members Individual

• Educational workshops, DEI sessions, and leadership training events

• All-team Town Hall meetings

• Annual, anonymous team surveys administered through an independent third party

• Quarterly performance reviews

• Formal reporting mechanisms (fraud, harassment)

• Inclusion in our annual ESG Materiality Assessment

Health Care Partner & Client Relationships Company, Regional, and Property Level

• Ongoing conversations between partners and members of our operations and leasing teams

• Regular property inspections, responsiveness to tenant maintenance requests, and post-repair tenant satisfaction surveys

• Bi-annual tenant satisfaction surveys conducted by an independent third party with follow-up action planning

• Customer appreciation and ESG education events

• Collaboration on onsite energy efficiency improvements

• Green lease standards

• Inclusion in annual ESG Materiality Assessment

Suppliers NEW Company, Regional, and Property Level

• Contract development and ongoing interaction

• Direct dialogue via meetings and calls

• Supplier compliance with environmental policies

• Quarterly and annual business reviews with key vendors

• Sustainability initiatives in master services agreements and construction contracts

• Vendor & Supplier Code of Conduct

• Supplier sustainability surveys

• Inclusion in annual ESG Materiality Assessment

Local Communities Regional/Property Level

• Partnerships with municipal boards, planning boards, community groups, and charitable organizations

• Contract with local suppliers where possible

• Philanthropic, fundraising, and in-kind donations

• Team and individual volunteer events in coordination with local non-profits

THEMES

Company economic performance and outlook, ESG goals and performance, Climate change strategy and resilience, Transparent governance, Oversight and procedures, Team goal-setting and DEI initiatives

Training & engagement, Health & wellness, Team satisfaction, Performance reviews, Benefits, DEI initiatives

Partner satisfaction surveys, Operations performance through our online platform, Leasing needs, Assistance in achieving client sustainability goals, Property-level safety and health

Customer service and communication, Economic performance and future outlook, Supply chain trends, Supplier capabilities: strategic sourcing, risk management, supplier excellence, certifications, sustainability, and resilience

Community impacts through property ownership and project-specific interests/needs

Stakeholder Engagement

Letter to our Stakeholders About DOC ESG Strategy

ESG Highlights

Industry Associations & Partnerships ESG Materiality Assessment

ESG Disclosure, Guidance Frameworks, & Assurance

INDUSTRY ASSOCIATIONS & PARTNERSHIPS

GRI 102-13, 102-27, 404-2, 413-1

DOC is a member of numerous industry and trade groups. We work with these groups because they represent the health care and real estate industries in debates led by governmental bodies and other stakeholders while assisting the industry in reaching a consensus on policy issues.

They also help shape and guide our sustainability platform, ensuring our leaders remain informed and on the leading edge of this ever-evolving space.

BUILDING OWNERS AND MANAGERS ASSOCIATION INTERNATIONAL (BOMA)

Member

CEO ACTION FOR DIVERSITY AND INCLUSION

Signatory

DEPARTMENT OF ENERGY BETTER BUILDINGS CHALLENGE

Partner

ENERGY STAR®

Partner

GRESB

DOC continues to gain ESG recognition in the real estate industry through featured case studies, including Nareit’s 2021 and 2022 REIT Industry ESG reports. We were also featured in the Department of Energy’s 2022 Better Buildings Progress Report’s Leadership in Action spotlight.

Member

INSTITUTE OF REAL ESTATE MANAGEMENT (IREM)

Sustainability Advisory Board

NAIOP

Member – Wisconsin Chapter

NAREIT

Communications Council

DEI Working Group

Real Estate Sustainability Council

Social Responsibility Council

NATIONAL MINORITY SUPPLIER DEVELOPMENT COUNCIL (NMSDC)

Member – Georgia Chapter

URBAN LAND INSTITUTE

Member

Benchmarking Partnerships

ENERGY STAR® Portfolio Manager®

Measurabl

Carbon Lighthouse

Sustainability Rating Alignment

Participation in ESG assessment: GRESB

Responding to ESG rating questionnaires: ISS, MSCI, and Sustainalytics

& 2022 IREM CSP, 2021 & 2022 ENERGY STAR | MHealth Clinic & Specialty Center | Maplewood, MN

Industry Associations & Partnerships

Letter to our Stakeholders About DOC ESG Strategy

ESG Highlights Stakeholder Engagement

ESG Materiality Assessment

ESG Disclosure, Guidance Frameworks, & Assurance

ESG MATERIALITY ASSESSMENT

GRI 102-15, 102-21, 102-29, 102-30, 102-31, 102-42, 102-43, 102-44, 102-46, 102-47, 103-1, 103-3

In 2023, we conducted our third annual ESG materiality assessment to identify the significant environmental, social, and governmental issues that impact our business and are essential to our stakeholders, including clients, investors, suppliers/vendors, our Board of Trustees, and DOC team members. The goals of this survey were to (i) establish and confirm sustainability-related performance indicators for our organization, (ii) prioritize resources, and (iii) determine the contents of this report.

ENVIRONMENTAL

Top Topics

Energy Use, Renewables, & Green Building Tech

Water Conservation

SOCIAL

Top Topics

Culture & Team Member Engagement

Training, Development, & Retention

Health & Safety

Diversity, Equity, & Inclusion

GOVERNANCE & OVERALL PERFORMANCE

Top Topics

Financial Performance

Corporate Governance, Business Integrity, & Anti-Corruption

Greenhouse Emissions & Climate Change Resilience

Waste Management & Recycling

Data & Cybersecurity

Human Rights

This year’s survey included renaming “Data Security” to “Data & Cybersecurity” to better reflect the topic’s scope. We also expanded our survey to include vendors and suppliers among the stakeholder groups surveyed. Our material topics have remained consistent year over year.

Letter to our Stakeholders About DOC ESG Strategy

ESG Highlights Stakeholder Engagement Industry Associations & Partnerships

ESG Disclosure, Guidance Frameworks, & Assurance

RESULTS TO DATE

GHG EMISSIONS (Scopes 1 & 2)1 (by 2030 against a 2018 baseline)

ENERGY2 (by 2024 against a 2018 baseline) 20%

WATER3, 4 (by 2024 against a 2018 baseline) 15%

WASTE DIVERSION5 (by 2024 against a 2018 baseline) 20%

CLIMATE CHANGE & TCFD REPORTING

GRI 102-12, 102-15, 102-29, 102-30, 102-31, 103-1, 103-2, 103-3, 201-2, 305-5

As a long-term owner of a nationwide outpatient medical office real estate portfolio, DOC focuses on climate preparedness as part of our sustainability strategy. To provide a framework for success, in 2020 we began the process of implementing the recommendations of the TCFD and aligning our strategic planning with the main sections of the TCFD framework: Governance, Strategy, Risk Management, and Metrics and Targets.

GOVERNANCE

Our Board of Trustees exercises direct oversight of our companywide strategic risks, including climate risk. The Nominating and Corporate Governance Committee oversees all ESG policies and initiatives, including the company’s long-term climate strategy. The Audit Committee oversees the company’s enterprise risk management program, which identifies the primary risks for our business.

Our sustainability strategy is managed and executed by our ESG Committee, a cross-functional team. This committee is led by our Executive Vice President of Asset Management, who oversees all internal ESG matters and reports directly to our President and CEO. The ESG Committee engages with stakeholders throughout the business to address climate-related issues, including risks and opportunities and the appropriate mitigation strategies.

For additional information regarding our ESG oversight, see page 47.

STRATEGY

We anticipate that climate change will have a long-term impact on our business, whether through physical risks related to the adverse effects of climate change or transition risks associated with moving to a lower-carbon economy. Accordingly, our strategy is focused on developing an understanding of climate-related risks that could materially impact our company and identifying and implementing measures to address and mitigate such risks. We also consider physical and transition risks when we acquire or develop properties and procure insurance coverages for our properties.

We have identified the following climate-related risks and strategies over short, medium, and long-term horizons:

RISKS

PHYSICAL

Regional disasters

Increased insurance premiums due to climate-related catastrophes

Supply chain disruptions

TRANSITION

OPPORTUNITIES

Devise mitigation plans and implement EMS policies to decrease the financial impact of climate disasters

Seek reductions in insurance premiums through the implementation of climate risk mitigation efforts

Proactively build a diverse regional and national vendor base with strategic overlap

Reporting obligations dictated by SEC and other entities Comply with leading ESG frameworks to proactively align with regulations

Carbon neutrality regulatory mandates

Rising cost of operating expenses

Rising cost of compliance with requirements on reducing emissions

Short to Long Term

Short to Long Term

Short to Long Term

Short to Medium Term

Adhere to SBTi and GHG protocols to create a path to carbon neutrality Medium Term

Leverage energy efficiency projects to reduce operating expenses

Proactively reduce emissions to mitigate any potential financial impacts related to compliance

Higher cost to invest in new green technologies Create national purchasing plans from a network of trusted vendors

1. Short Term (1-3 Years), Medium Term (4-9 Years), and Long Term (10 years and over)

As our adoption of the TCFD framework evolves, we intend to evaluate the incorporation of scenario analyses into our future strategy and financial planning. To date, we have established formal processes for resilience planning, including, but not limited to, business continuity and disaster recovery planning. These forward-looking plans include risk identification and the coordination of plan development, preparation, and maintenance

Short to Medium Term

Short to Medium Term

Medium to Long Term

in a local emergency or widespread disaster at the corporate and property levels. Responsibility for these measures is distributed across several departments within the company, including Senior Leadership, Asset Management, Construction and Project Management, Finance, Accounting, Leasing, Marketing and Communications, and Property Management.

Climate Change & TCFD Reporting Results to Date

Environmental Policy Capital & Operational Investment Strategies Certifications

RISK MANAGEMENT

DOC recognizes that climate change risk is a global issue that may impact how we run our business today and in the future. We evaluate the risk profile of our identified portfolio annually to assess a variety of potential climate-related exposures using Measurabl’s Physical Climate Risk Exposure (PCRX) module. This third-party physical risk assessment informs the risk profiles for our properties and allows us to better develop our risk mitigation strategies.

MANAGING PORTFOLIO CLIMATE RISK STRATEGIES

Proactively identify the highest risks due to property location

Implement preventive strategies to address flagged risks and limit our risk exposure

Refine property emergency response plan for climate-related matters

Water Stress

Utilize national disaster recovery service agreements for a response within 24 hours

ACQUISITION EVALUATION RISK STRATEGIES

Identify any significant climate risks using Measurabl Climate Risk Module

Ascertain if the property is in a regulated or deregulated energy market

Review historical utility performance and green leases

Review physical property for types of lighting, building automation, EV charging stations/compatibility, and additional sources of energy other than electricity

Identify opportunities for improvement to enhance our ROI and support our environmental goals

Additional Opportunities:

• Increase the value of the portfolio with green certifications

• Cost savings from renewable energy

*Data from Measurabl’s Physical Climate Risk Exposure Module Powered by Moody’s ESG Solutions

DOC’s environmental goals and metrics outlined on page 12 further augment our risk mitigation plan:

GOAL 1

Continue our Greenhouse Gas (GHG) Reductions Strategy, Striving for a 40% Reduction by 2030

20% reduction of Scope 1 and 2 GHG Emissions by the end of 2024 (2018 benchmark) at managed properties

PROGRESS: COMPLETE

(20.8% reduction achieved)

Progress toward multi-year GHG targets in 2022 and beyond with an ever-increasing number of properties

PROGRESS: ON TRACK

GOAL 2

Identify Existing and Future Climate Risks at Each of our Properties and Implement a Mitigation Strategy

Emergency Response Plan in place at 100% of managed properties

PROGRESS: COMPLETE

Mitigation plan for direct risks identified by Measurabl Climate Risk Module

PROGRESS: ONGOING

Mitigation plan for direct climate risks identified as an elevated risk

PROGRESS: ONGOING

METRICS & TARGETS

We track metrics and have established meaningful long-term targets relating to GHG emissions, energy use, water conservation, waste management, and recycling. In addition, our science-based emissions reduction targets have been validated by the Science Based Targets initiative to align with a “Well-below 2° C” strategy.

PROGRESS: ON TRACK

Continued implementation of energy efficiency projects such as lighting retrofits and building automation upgrades Offset our remaining usage with renewable energy solutions, such as solar power

PROGRESS: EVALUATING

Implement climate change scenarios as part of our acquisition investment due diligence process

PROGRESS: ON TRACK

We continually look for ways to improve our understanding of climate-related risks. We are working to integrate climate risk variables into our overall risk management process as a multi-disciplinary process that includes our Board of Trustees and management team.

Climate Change & TCFD Reporting Results

Environmental Policy Capital & Operational Investment Strategies Certifications

ENVIRONMENTAL POLICY

GRI 102-46, 102-49, 103-1, 103-2, 103-3, 302-4, 303-3, 303-5, 305-5

BENCHMARKING & METHODOLOGY

This report represents our year-over-year data on building performance toward our environmental sustainability goals. While the data for this report stems from our identified subset of properties, our work in advancing sustainability projects spans our entire portfolio.

REPORTING DATA SET CRITERIA

DATE ACQUIRED

Owned and operationally stable as of January 1, 2022

DATA ACCESSIBILITY

134 properties totaling 8.09m SF within our operational and financial control with available utility data, representing 48% of our portfolio as of December 31, 2022, excluding dispositions

METHODOLOGY

Goals and progress are based on a 2018 baseline with a “Fixed Target Base Year,” calculated with the “all-year” approach, as outlined in the Greenhouse Gas Protocol

ENVIRONMENTAL MANAGEMENT SYSTEM

In 2019, DOC developed an Environmental Management System (EMS) Plan. Our EMS Plan is updated annually and serves as a roadmap for organizing and directing DOC’s sustainability strategy to integrate sustainability considerations and objectives into DOC’s ongoing decisionmaking, operations, and capital planning.

A key component of this plan is the integration of six core environmental policies:

• Energy Management

• Water Management

• Indoor Air Quality (IAQ) Management

• Sustainable Purchasing

• Green Construction & Waste Management

• Recycling

CAPITAL & OPERATIONAL INVESTMENT STRATEGIES

GRI 103-1, 103-2, 103-3, 302-4, 302-5, 306-2, 416-1

DOC is continually identifying, evaluating, and pursuing capital projects that reduce energy usage and cost across our portfolio. Asset-level efficiency projects are identified based on dedicated capital, size, and asset location. In 2022, DOC invested in 31 sustainability-driven capital expenditure projects totaling $5.6 million, which we believe will generate operating expense savings of approximately $10.6 million over the next 10 years. Through these efforts, we aim to meet our environmental goals and contribute to a more sustainable future.

SUSTAINABLE STYLE IN ATLANTA

Peachtree Dunwoody Medical Center in Atlanta, Georgia, is a Class-A outpatient medical building in “Pill Hill,” a highly competitive hospital medical campus north of Atlanta’s downtown. In 2022, the first phase of a multi-year common area interior refresh was completed with a renovation of the common area restrooms.

All restroom finishes leveraged DOC’s standard architectural finishes, creating a harmonious space that also prioritizes sustainability through updated LED lighting and low-flow plumbing. These updates are expected to result in significant water savings, estimated at 15%, contributing to DOC’s sustainability goals and its commitment to reducing its environmental impact.

LED RETROFITS

We partner with national lighting vendors to identify properties that would benefit from LED retrofits, allowing us to replace non-LED fixtures within our portfolio. In 2022, we upgraded 1.5 million square feet of lighting, resulting in a projected annual savings of $1 million. Our estimated 2022 energy savings of 8.5 million kWh is equivalent to powering 1,168 residential homes for an entire year. We carefully select properties based on a range of factors, including usage patterns, energy consumption, and environmental impact.

TEAM SPOTLIGHT: JORDAN IVANS, DIRECTOR OF SUSTAINABILITY & ENERGY PROJECT MANAGEMENT

In 2023 we hired Jordan Ivans to drive DOC’s environmental sustainability mission, national energy management program, and overall commitment to smart, healthy, and sustainable outpatient medical buildings. Previously, he served as the Energy Team Lead at Kohl’s Corporation and was responsible for energy efficiency, renewable strategy, and implementation across over 1,200 facilities.

WASTE MANAGEMENT

Our 2022 efforts to introduce new recycling services and right-sizing initiatives reflect our commitment to sustainability and cost efficiency. By collaborating with Waste Management and our property management teams, DOC diverted an additional 50 metric tons of waste from landfills.

CARBON LIGHTHOUSE PARTNERSHIP

Carbon Lighthouse’s software analyzes our building HVAC optimization and lighting systems by scanning them for potential inefficiencies and providing insights to prioritize capital projects. By addressing these issues, DOC can increase property-level cash flows, reduce carbon emissions, and extend equipment lifespans. Additionally, by freeing up time for facilities teams to attend to other needs, our teams can focus on providing superior customer service to our health care partners.

SUMMARY:

• 25 buildings

• Over $1m in energy savings per year

• CO2 reduction equivalent of taking 1,900+ vehicles off the road every year (9k Ton/Yr CO₂ reduction)

11 BUILDINGS COMPLETED:

• $440,000 annual energy savings

• 179% yield on cost achieved

• $76k additional annual savings pending completion

14 BUILDINGS UNDERWAY:

• $493,000 annual energy savings identified and in progress

• 63% yield on cost expected

• 3,500 tons of CO2 yearly reduction

“Carbon Lighthouse removes the complexity of identifying and implementing energy reduction opportunities. Their real-time energy monitoring helps us identify and fix any energy issues, enabling our Building Engineers to get the building back on track quickly and efficiently. We look forward to expanding our partnership in the years ahead.”

PROJECT: HVAC Scheduling Optimization

Rooftop units were not adjusting correctly based on occupancy, resulting in over/under heating and cooling. Our facilities team reset the unit schedules to align with the building occupancy at an optimal start time.

PROJECTED ENERGY BILL SAVINGS FOR OUR PARTNERS: $40,800/year with immediate payback (no cost)

Joe Reesman Regional Facilities Manager

NEW SOLAR ARRAY

In 2022, at the Medical Arts Center at Hartford in Plainville, CT, DOC became the host of a 134kW rooftop solar project. This array is expected to generate 159,545 kWh of carbon-free electricity per year. This clean energy will be supplied to the local grid, enough to power 14 residential homes in the community. By embracing solar power, DOC and the Medical Arts Center are contributing to a greener future by reducing our collective carbon footprint.

2022 IREM CSP, 2021 & 2022 ENERGY STAR Medical Arts Center at Hartford | Hartford, CT

CERTIFICATIONS6 NEW

GRI 102-12, 103-3, 302-4

SUSTAINABILITY CERTIFICATION GROWTH

ENERGY STAR® 2023 PARTNER OF THE YEAR

For the second year, DOC is a proud recipient of the 2023 ENERGY STAR® Partner of the Year – Energy Management Award from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy. Partners must perform at a superior level of energy management, demonstrate best practices across the organization, prove organization-wide energy savings, and communicate the benefits of ENERGY STAR®.

To celebrate the 30th anniversary of ENERGY STAR, the EPA offered special, one-time recognition to any organization that earns EPA’s ENERGY STAR® certification for five or more buildings in 2022. DOC received ENERGY STAR® certification for 26 buildings, earning Premier Member status within Certification Nation.

OF CERTIFICATIONS

As part of our ongoing certification strategy, DOC has targeted earning 10 additional property certifications from either IREM CSP or ENERGY STAR® annually. We also aim to retain any expiring IREM CSP designations at a 50%+ rate annually.

LEED CERTIFICATIONS

Physicians Realty Trust proudly owns three LEED-certified properties, the Baylor Scott & White Charles A. Sammons Cancer Center in Dallas, Texas (LEED Gold), 8 C1TY Blvd MOB in Nashville, Tennessee (LEED Silver), and UofL Health – South in Shepherdsville, KY (LEED Silver). Our acquisitions team strategically prioritizes the purchase of LEED assets when possible.

CLIENT HEALTH & SAFETY NEW

DOC’s primary focus is the safety, health, and wellness of its partners, suppliers, vendors, employees, and subcontractors.

In 2022, DOC engaged a Leadership in Safety consultant on safety and security best practices focusing on incident response planning, emergency communications, standardized building safety assessment, and ongoing training. We hosted two training sessions for our property management teams on the all-hazards approach to incident response planning and training, focusing on organizational culture and community partnerships to promote and maintain a safe working environment.

All of our properties are inspected on a regular basis for potential health and safety issues by our internal team and contracted third parties. Inspections cover health and safety criteria, including spaces controlled by our health care partners. We also regularly monitor the environmental condition of our properties and engage in remediation activities if needed. In new acquisitions, we perform detailed inspections of the environmental and physical condition of the asset and incorporate a capital investment plan as part of our acquisition decision to correct any issues identified that do not meet our standards.

As outlined in our Vendor and Supplier Code of Conduct, vendors must incorporate health and safety management practices into all aspects of their business. Vendors must also fully comply with all applicable safety and health laws, including occupational safety and emergency preparedness. For details, view our revised Vendor and Supplier Code of Conduct on our website.

BIODIVERSITY

GRI 103-1, 403-4, 403-5, 416-1 GRI 103-1

DOC’s business strategy focuses on acquiring, owning, and operating high-quality, environmentally conscious outpatient medical facilities near urban centers for the benefit of local stakeholders’ health and wellness. As such, our operations allow us to use existing infrastructure, typically with a minimal impact on biodiversity.

To reduce the potential negative impact of our facilities on local communities, we commission independent consultants to conduct Phase I environmental site assessments before acquiring properties. Typically, these assessments allow DOC to identify any negative ecological concerns and necessary plans for remediation before the property is acquired.

Some of the ways we work with our property management and development partners to minimize

negative impacts and provide value to local communities are:

• All our developments are subject to local environmental permitting processes.

• Where feasible, we incorporate native plants in landscaping to support native wildlife.

• We incorporate energy and water-efficient equipment such as high-efficiency lighting and low-flow plumbing fixtures.

• We specify materials and finishes that are low emitting to enhance indoor air quality.

• We aim to hire vendors with a local presence when possible, further supporting community employment, reducing vehicle miles traveled, and thus further reducing negative environmental impacts.

GREEN LEASING & SUSTAINABLE FINISHES NEW

GRI 102-12, 103-1, 306-2, 416-1

DOC’s G2 Sustainability℠ philosophy—a practical approach in which being “green” through our environmental initiatives equates to a “green” cash return via cost savings over time—is an integral part of our health care partner offerings.

GREEN LEASING TO SUPPORT ENVIRONMENTAL GOALS & DATA TRANSPARENCY

DOC Earns 2022-2023 IMT GREEN LEASE LEADERS PLATINUM DESIGNATION

Only Health Care REIT to Earn a Platinum Green Lease Leader Designation

Green leases, also called “high-performance” or “energy-aligned” leases, help building owners and tenants share the costs and benefits of energy and water efficiency investments. Unlike conventional leases that put the burden of energy efficiency on the landlord, green leases involve tenants and property owners collaborating to conserve resources and align sustainable investment costs. Over 99% of our new leases and renewals since 2019 have included green lease provisions.

To align sustainability efforts with our clients, our lease forms include cost recovery for capital expenditures to reduce operating expenses, cost recovery for property certifications, sub-metering of high-intensity equipment, and required client energy disclosure. Our legal and leasing teams actively negotiate our leases to preserve these green lease provisions.

SUSTAINABLE FINISHES & LEVERAGING NATIONAL PARTNERSHIPS

When DOC conducts onsite tenant improvements and construction projects, we prioritize sustainable options and national contracts to help manage costs, increase longevity, and simplify the installation and selection process. Our process focuses on designs and materials such as flooring, wall coverings, paint, ceiling materials, lighting, millwork, partitions, and restroom fixtures to achieve our sustainability goals. Many of our finishes also utilize recycled materials that contribute to waste diversion from landfill sites.

In 2022, we earned the Green Lease Leaders Platinum Designation from the Institute for Market Transformation and the U.S. Department of Energy Better Buildings Alliance. This is the highest recognition for green leasing. Previously, DOC earned the Gold Designation in 2020. Green Lease Leaders spotlights real estate companies that use the leasing process to promote energy efficiency and sustainability in buildings. To receive recognition, organizations must integrate whole-building performance and social impact goals into their policies, leases, and engagement strategies.

SPOTLIGHT ON: SHAWCONTRACT

By leveraging a national flooring partnership with ShawContract since 2019, DOC tracks our sustainability footprint, supporting our energy, emissions, and waste diversion goals while contributing to indoor air quality.

A Sustainable Choice: Ecoworx® Carpet Tile

12,870 SF of EcoWorx® flooring installed

36% recycled content and a low volatile organic compound (VOC) product

40% less energy used in production compared to traditional carpet tile

40% less in weight than conventional carpet tile, creating carbon reductions in transport and increasing efficiency in installation

100% recyclable at the end of its useful life

Biodiversity Client Health & Safety Green Leasing & Sustainable Finishes Health Care Partner Engagement Client Feedback & Communication

HEALTH CARE PARTNER ENGAGEMENT

GRI 103-2, 103-3, 303-1, 403-6, 413-1

The DOC team works hard every day to be the health care REIT owner of choice by operating our properties at the highest levels of professionalism, responsiveness, and efficiency. We provide ongoing communication and resources to our health care partners to engage them in the sustainability practices we employ.

EARTH DAY 2023: EVERY DROP COUNTS

Every year, DOC organizes portfolio-wide Earth Day events at our multi-tenant properties. Our 2023 theme was Every Drop Counts, focusing on water conservation education. Our management team developed a promotional toolkit, tenant engagement activities, and other resources as part of these efforts. More than 100 locations participated, implementing water-saving and education measures.

CLIENT FEEDBACK & COMMUNICATION NEW

GRI 102-12, 103-3

Since our founding in July 2013, DOC’s incredible growth has been built on strong relationships with physicians and hospital executives nationwide and centered on a culture of industry-leading customer service and operational excellence. This exceptional customer service is not possible without our nationwide network of management partners. This talented team leverages industry expertise, close attention to detail, a tenant-first mentality, superb communication skills, and a warm, caring attitude to help differentiate DOC from other health care real estate owners.

PROPERTY-LEVEL COMMUNICATION & WORK ORDER EXCELLENCE

Through our customer service management platform, Building Engines, we communicate property-level events and information and provide a means to request and receive updates on work order requests. We also use Building Engines to share information about portfolio-wide sustainability efforts, such as our annual Earth Day events.

NEW ONGOING GOAL

90% POSITIVE TENANT WORK ORDER SATISFACTION RATING

ANNUAL TENANT SATISFACTION SURVEY

DOC measures tenant satisfaction through surveys conducted by an independent real estate consulting firm, Kingsley Associates. Managed properties are surveyed every other year. We set annual response and satisfaction goals, create property-level action plans, including capital investments, and review team performance based on the survey results. DOC’s efforts were recognized with a Kingsley Excellence Award for Tenant Satisfaction

2022 SURVEY GROUP RESULTS

NEW ONGOING GOAL

80% POSITIVE OVERALL TENANT SATISFACTION RATING IN ANONYMOUS ANNUAL SURVEY

86 PROPERTIES

6.1M SF 502 HEALTH CARE PARTNERS Satisfaction scores outperformed Kingsley Benchmark in all three categories.

84% OVERALL SATISFACTION

88% MANAGEMENT OVERALL SATISFACTION

88% MAINTENANCE & ENGINEERING OVERALL SATISFACTION

Northside Center Pointe Earth Day Event | Atlanta, GA | April 2023

Client Feedback & Communication

Client Health & Safety Biodiversity Green Leasing & Sustainable Finishes Health Care Partner Engagement

HUMAN CAPITAL MANAGEMENT & DEMOGRAPHICS

GRI 102-7, 102-8, 102-12, 102-22, 102-41, 103-1, 103-2, 103-3, 403-6, 405-1

Human capital management is a top priority for DOC. Our Board believes that the health, safety, and welfare of our human capital resources are vital to the success of our company. We depend on a strong, talented, and committed workforce to ensure excellence for our clients and shareholders.

The company strives to create a positive and productive work environment free from harassment, intimidation, and retaliation of any kind. Sexual harassment or harassment arising out of race, color, religion, sex, age, pregnancy, disability, sexual orientation, gender identity, gender expression, marital status, national or social origin, veteran status, genetic information, and/or any other protected category will not be tolerated. As of December 31, 2022, we had 101 full-time employees, none of whom were subject to a collective bargaining agreement. We believe that relations with our employees are positive.

SPOTLIGHT ON: 2023 BLOOMBERG GENDER-EQUALITY INDEX

DOC is proud to have been named to the 2023 Bloomberg Gender-Equality Index (GEI), a comprehensive scorecard tracking the performance of public companies in terms of gender equity. The GEI relies upon voluntary gender-data reporting, measuring equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, anti-sexual harassment policies, and external brand. Companies are included in the Index if they score above Bloomberg’s established global threshold. Our inclusion is a testament to our emphasis on DEI initiatives as a company. We’re proud of this recognition and excited to continue advancing in this space.

GENDER DIVERSITY

Human Capital Management & Demographics Diversity, Equity, & Inclusion (DEI) Culture & Team Member Engagement Workforce Training & Development Benefits, Health, Wellness, & Safety Volunteerism & Philanthropy

DIVERSITY, EQUITY, & INCLUSION (DEI)

GRI 102-15, 102-21, 103-1, 103-2, 103-3, 403-6, 404-2, 413-1

DIVERSITY, EQUITY, & INCLUSION

AT DOC

At DOC, we value diversity and embrace the unique qualities of our team members. We are committed to promoting diversity, equity, and inclusion (DEI) at all levels of the organization. Our 16-member DEI Council was formed in 2019 and represents all workgroups within the company. The Council meets monthly to develop and implement strategies to promote DEI and is overseen by our Board of Trustees Nominating and Corporate Governance Committee for added accountability and visibility.

Our 2022 successes are tied directly to our shared vision to C.A.R.E.:

COLLABORATE AND COMMUNICATE:

• Build CRE Diversity Pipeline: Our 2022 summer interns were 75% diverse, surpassing our goal of hiring 50% or more diverse candidates, representing those who identify as Black, Indigenous, people of color, female, veteran, or LGBTQIA+

• Support Company Education via Communications Channels: Provided educational touchpoints via a new intranet hub, with over 6,000 lifetime site visits

• Industry Representation: Represented on the Nareit Communications Council, DEI Working Group, and Social Responsibility Council, and regularly attended continuing events on DEI subjects

ACT WITH INTEGRITY:

• Attract Top Talent: Conducted a comprehensive benefits review to ensure competitiveness, resulting in the implementation of a wellness reimbursement program and an Onboarding Buddy Program to support belonging

• Wraparound Tools for Mental Health and Wellness: Offered over eight hours of mental health programming in response to team feedback, including the introduction of app-based resources to help foster mental health and wellness; a new yearly paid time off day for mental health; and resources surrounding observances of World Mental Health Day, Mental Health Awareness Month, and Stress Awareness Month

• Create a Consistent Feedback Loop to Further Belonging and Allyship: Added DEI touchpoint questions to quarterly manager/team member reviews and measured DEI engagement through a new yearly survey

RESPECT THE RELATIONSHIP:

• Mentor Diverse Future Leaders: Continued partnership with Year Up through virtual networking events and mock interviews

• Financial Investments: Supported the MKE CRE week-long summer real estate immersion program through financial investments and as a key organizer

EXECUTE CONSISTENTLY:

• Execute Team Programming: Offered 13 hours of programming, including four All-Team “Lunch & Learn” sessions on various topics; three optional, informal, and small-group “Coffee Talks” discussions; and an all-team, women in leadership discussion with Board of Trustees member Ava Lias-Booker, Esq.

• Honors for Excellence: Recognized as the 2022 CRE Insight Journal “Excellence in DEI” Award Winner and as a 2023 Bloomberg Gender-Equality Index member

2022 DEI Council

Chair: Leann Mester

Sub-Council Leads: Sydonia Blake, Obumneke Eto, and Zoë Zeitler

Executive Sponsor: Dan Klein

Members: Kimberly Borst, Ben Chrystak, Megan Gohsman, Jennifer A.D. Manna, Patrick McCoshen, Chuck Resha, Moe Saed, Amanda Slavata, Melissa Variny, Joey Williams, Denise Yettaw

DEI Council Mission Statement: By taking intentional steps to include people with varied voices, ideas, and perspectives, we aim to create greater shared value for our employees, shareholders, customers, suppliers, and the communities we serve.

Leann Mester Director of Corporate Marketing & Communications, 2022-2023 DEI Council Chair

My DOC Story: DEI & Belonging

Diversity, Equity, & Inclusion (DEI)

Human Capital Management & Demographics

Culture & Team Member Engagement Workforce Training & Development Benefits, Health, Wellness, & Safety Volunteerism & Philanthropy

SPOTLIGHT ON: MKE CRE

DOC partnered with NAIOP Wisconsin and the Marquette University Center for Real Estate to support the MKE CRE week-long summer immersion program, which aims to introduce diverse high school students to career opportunities in commercial real estate and contribute to the talent pipeline for our industry. Students learned about designing, building, managing, owning, and selling commercial real

estate through in-person instruction, hands-on experiences, site visits, and interaction with real estate professionals. As a presenting sponsor, DOC provided $7,500 in financial support toward scholarships for diverse high school students interested in careers in commercial real estate. In 2023, we earned a NAIOP Wisconsin Thrive Award for our work with the MKE CRE program

“As our DEI Council executive sponsor, I’m humbled by our passionate team’s commitment to promoting DEI principles. We proudly celebrate unique perspectives and experiences by fostering creativity, innovation, and problem-solving, and our inclusive environment has resulted in increased belonging and engagement at DOC.”

Dan

DEI ENGAGEMENT & BELONGING SURVEY

Participation in this survey increased by 11% year-over-year, and positive responses increased in every category.

“I belong at DOC.”

94% OF TEAM MEMBERS

“DOC’s public DEI stance aligns with my views/opinions as a DOC team member.”

96% OF TEAM MEMBERS

“I have access to overall learning and development opportunities at DOC to further my career.”

93% OF TEAM MEMBERS

M. Klein

SVP Investments & Deputy Chief Investment Officer

MKE CRE Summer High School Immersion Program | July 2022

“This has been one of the best experiences of my life. Real estate is so much broader than I thought. It’s a huge takeaway because now I know what I want to do when I get older.”

Ayush Patel, Milwaukee, WI

MKE CRE Class of 2022

Diversity, Equity, & Inclusion (DEI)

CULTURE & TEAM MEMBER ENGAGEMENT NEW

GRI 103-1, 103-2, 103-3, 404-2, 413-1

At Physicians Realty Trust, our entire team is heavily engaged in building a stronger, more inclusive workplace environment.

• We continually work to build and maintain a culture of inclusion and belonging through our internal communications

• We highlight team announcements through a monthly newsletter, run team-led wellness challenges, host an annual book club discussion, and participate in shared volunteer opportunities

• We host team member networking activities, including team outings, health care partner and building social events, monthly birthday and holiday celebrations, an in-person Management Summit, and our annual Family Picnic

• We participate in team-led committees that support health, wellness, professional development, philanthropic giving, and culture within our organization

SPOTLIGHT ON: ENGAGEMENT HIGHLIGHTS

95% 94% PARTICIPATION IN 2022

INDEPENDENT THIRD-PARTY EMPLOYEE ENGAGEMENT SURVEY

(A year-over-year increase of over 2%)

SPOTLIGHT ON: DOC’S NEW CULTURE SPECIALIST, JOEY WILLIAMS

In 2022, DOC created the new role of Culture Specialist to focus on sustaining and improving our culture, a position filled by long-time team member Joey Williams. In addition to day-to-day human resources responsibilities, Joey supports our team’s general health, well-being, and engagement by fostering a strong, supportive, and productive work environment.

“DOC is so much more than a job to me. It’s a family. My teammates encourage and inspire me to reach my full potential while also valuing my input and supporting my dreams. In my new role as Culture Specialist, I have the daily privilege of fostering a positive workplace and ensuring the well-being and development of the heart of our company, its incredible people.”

Joey Williams

Specialist & DEI Include Sub-Council Lead

2022 EMPLOYEE RETENTION RATE

(A year-over-year increase of over 4%)

We expect that prioritizing our most important asset—our people—through this position, especially in an era of hybrid working environments, will ensure a sense of belonging and a shared mission to energize our company in the future. We also believe that our close-knit DOC culture and employee satisfaction lead to our ability to attract and retain high-quality talent

“The culture is fun and inclusive, which allows me to be who I am. Our entire leadership team is fantastic, and they do a great job of representing DOC’s culture.”

—Feedback from Anonymous Team Member Survey

2022 & 2023 Modern Healthcare Best Places to Work Winner, Supplier Category 3rd Consecutive Year

2022 & 2023 Milwaukee Journal Sentinel Top Workplaces Winner 6th Consecutive Year

Culture

Culture & Team Member Engagement

Human Capital Management & Demographics Diversity, Equity, & Inclusion (DEI)

Workforce Training & Development Benefits, Health, Wellness, & Safety Volunteerism & Philanthropy

WORKFORCE TRAINING & DEVELOPMENT

GRI 103-1, 103-2, 404-1, 404-2, 403-6, 404-1, 404-2, 404-3

INVESTING IN TEAM MEMBER DEVELOPMENT

We prioritize the professional development of our team members and encourage continued improvement through training and education programs. To support our goals in 2022, DOC offered over 30 hours of team member training, including:

• Held all-team training sessions that covered important topics like DEI, leadership, work/life balance, and cybersecurity

• Hosted our annual training and customer service event, the DOC Management Summit, which included topics such as project management, regulatory compliance, accounting systems, procurement, future trends in sustainability, capital markets, disaster planning and recovery, and communications strategies

• Planned quarterly company-wide “Lunch & Learn” discussions focused on “a day in the life of” our leasing and property accounting teams and financial wellness

• Sponsored certifications, including continuing education programs and graduate coursework, to enhance our team members’ skills and expertise

• Supported participation in professional seminars, workshops, and conferences, including those attended by our Accounting, Legal, IT, and Operations teams

• Conducted annual performance reviews for all team members and career development conversations with their managers

By investing in the ongoing development of our team members, we ensure that DOC remains competitive and adaptable to changing needs and trends.

We also look to our internal candidates when there are job openings or promotion opportunities at DOC and meaningfully focus on developing our diverse workforce. In 2022, 67% of team members promoted represented those who identify as Black, Indigenous, people of color, female, veteran, or LGBTQIA+.

COMPREHENSIVE ONBOARDING INITIATIVES

We prioritize the success and well-being of all new team members, including interns. To ensure a smooth transition and integration into our team, we have designed a comprehensive onboarding program that includes the following:

• “DOC 101” Training: New team members participate in an interactive and multi-day training series that covers our company’s history, mission, vision, culture, management, policies, procedures, customer service, procurement, supplier diversity, sustainability, software, security, budgeting, and financial performance strategies.

• New Onboarding Buddy Program: This new initiative pairs more seasoned team members with new hires to provide support, guidance, and friendship during onboarding.

• Creating Connections: Virtual meetings and in-person meet-andgreets with representatives from each department allow new team members to connect and collaborate with their colleagues across the country.

We believe that investing in a comprehensive onboarding program helps us to set our new team members up for success, retain our talented team members, and foster a strong sense of community and belonging.

“We have plenty of opportunities to provide new ideas. We have access to the highest level of leadership at any time.

- Feedback from Anonymous Team Member Survey

NEW 2023-2025 GOAL: THREE-YEAR AVERAGE ANNUAL VOLUNTARY TEAM MEMBER TURNOVER IS LESS THAN 10%

DOC Management Summit Service Project | September 2022

Libby Langenderfer Regional Leasing Associate

Workforce Training & Development

Human Capital Management & Demographics Diversity, Equity, & Inclusion (DEI) Culture & Team Member Engagement

Benefits, Health, Wellness, & Safety Volunteerism & Philanthropy

SPOTLIGHT ON: ONBOARDING BUDDY PROGRAM

In 2023, our company introduced a new Onboarding Buddy Program to welcome and acclimate our new hires. In this program, each new team member is paired with a veteran staffer who acts as their guide during their early days at our company. We believe this program creates a positive work environment that supports employee growth, development, and satisfaction.

“I thoroughly enjoy being a buddy! Being able to show the kindness and C.A.R.E. DOC has shown me to a wonderful, bright new face is so rewarding!”

Isabela Rivademar Property Management Administrator

“The buddy program is truly a delight and very refreshing. It allows me to learn more about the business from another side, culture, and, more importantly, a fellow DOCer! My buddy meetings are a time for me to take a break from work and just laugh a bit.”

SPOTLIGHT ON: GRADUATE DEGREE SPONSORSHIP PROGRAM

At DOC, we recognize the value of continued education and support our team members as they work to enhance and expand their skills through continued learning. To this end, we’re proud to offer a graduate degree sponsorship program to help our team members offset the costs of pursuing an advanced degree. In 2022, we were thrilled that Kelly Farina, Senior Property Accountant, attained her master’s degree in accounting through our program.

Co-Ran Lewis Property Management Administrator

Workforce Training & Development

Human Capital Management & Demographics Diversity, Equity, & Inclusion (DEI) Culture & Team Member Engagement

Benefits, Health, Wellness, & Safety Volunteerism & Philanthropy

BENEFITS, HEALTH, WELLNESS, & SAFETY NEW

GRI 102-35, 103-1, 103-2, 201-3, 401-2, 401-3, 403-4, 403-5, 403-6

TEAM BENEFITS

Our leadership has championed the importance of providing a robust benefits package. We offer competitive pay and compensation packages, including an annual bonus, paid medical and dental insurance, paid time off benefits, paid holidays, yearly paid volunteer time off, one paid mental health and wellness day, summer Friday hours, 401(k) match with immediate vesting, company-sponsored short- and long-term disability benefits, voluntary life and accident insurance, paid parental leave, and pet insurance. In addition, we provide equity compensation after six months of employment. Through our employee stock purchase program and annual stock grant, our employees are also owners of the company. DOC also offers a health plan option with a health savings account, which to date has included an annual company contribution, an onsite fitness center in Milwaukee, and numerous team-building activities throughout the year.

PRIORITIZING EMPLOYEE WELL-BEING

We provide resources, webinars, and events to support our team’s emotional, physical, and financial well-being. In 2022, the company took a wraparound approach to employee mental health support by facilitating communication and education related to mental health and wellness

• Promoted our Employee Assistance Program with confidential counseling sessions

• Observed World Mental Health Day with events and provided resources to help promote access to mental health care to remove the stigma

• Added eight hours of mental health programming and support, including paid access to an award-winning mental health and wellness app, two all-team sessions facilitated by a licensed clinical psychologist, and optional small group, peer-led “Coffee Talk” conversations on perfectionism and imposter syndrome

• Provided additional paid time off programs at milestone anniversaries and a yearly paid mental health and wellness day

SPOTLIGHT ON: WELLNESS REIMBURSEMENT PROGRAM NEW

In 2023, DOC launched a wellness reimbursement program to promote healthy and well-rounded lifestyles for our team members. This personalized program reimburses wellness expenses, including gym memberships, therapy sessions, financial planning services, personal development courses, and professional development resources. Team members can access this benefit quarterly by submitting eligible expenses through an online portal while adhering to program guidelines and restrictions.

“The

- DOC Team Member

HYBRID WORK MODEL NEW

Based on lessons learned during the COVID-19 pandemic, DOC adopted a hybrid return-to-work approach tailored to each workgroup’s responsibilities and job function, including several fully remote work options, which we believe will maximize company-wide productivity. Additionally, DOC has a yearly four-week “work from anywhere” policy.

2022 SAFETY HIGHLIGHTS NEW

We take the health and safety of our team members seriously. Our commitment to these values is reflected in our Code of Business Conduct and Ethics, our revised Human Rights Statement, and our revised Vendor & Supplier Code of Conduct. In addition, we adhere to state and federal labor and safety standards and take proactive measures to ensure a safe work environment. We aim to ensure that our team members experience zero lost time due to accidents or injuries. We encourage all team members to actively promote health and safety in the workplace by reporting potential hazards and following safety protocols.

COVID-19 RESPONSE

Throughout the COVID-19 pandemic, we prioritized our employees’ health and safety. In 2022, to encourage and support COVID-19 vaccination, DOC provided one paid “wellness day” to allow our employees to get vaccinated and address any immediate side effects. Employees could also use their wellness day for overall mental health and wellness

wellness program is another reason why I love DOC so much. This is so very impactful!”

Human Capital Management & Demographics Diversity, Equity, & Inclusion (DEI) Culture & Team Member Engagement Workforce Training & Development

Volunteerism & Philanthropy

VOLUNTEERISM & PHILANTHROPY

GRI 103-1, 413-1

DOC is dedicated to making a difference in the lives of our team members, investors, health care partners, and those who visit our properties. We believe in a “pay it forward” approach, extending ripples of impact to others in the communities we serve through our efforts. In addition to volunteer activities, DOC provides monetary support to various non-profit organizations.

SPOTLIGHT ON: 2022 PHILANTHROPY IN OUR COMMUNITIES

$408,800 IN PHILANTHROPIC GIVING

Goal: $375,000

$150,000 IN FUNDRAISING TO SUPPORT OUR SIGNATURE CHARITY PARTNER, cureHUNTER

Pediatric cancer research nonprofit

902 HOURS OF VOLUNTEERISM

Goal: 600 hours (exceeded by over 50%)

AREAS OF SUPPORT: HEALTH CARE, CHILDREN AND YOUTH, SUSTAINABILITY, VETERANS, HUNGER AND POVERTY, ANIMAL WELFARE, COMMUNITY-BUILDING, AND DEI INITIATIVES

Team members are actively involved in DOC’s philanthropic decisions through a team-led committee, an annual philanthropy survey, and quarterly “Jeans Week” drives with charitable recipients chosen from team-nominated organizations nationwide. The company does not make contributions of any kind to any political action committees or political candidates or their campaigns.

ALL-COMPANY VOLUNTEER EFFORTS

Our employees contributed 455 hours through company-sponsored team volunteer opportunities in 2022. Events included a Hunger Task Force farm day, health foundation charity outings, mentoring Year Up students, our Management Summit service project, and blood drives.

VOLUNTEER TIME OFF (VTO) PROGRAM

Our VTO Program, launched in 2019, allows team members to give back to their communities through one paid day off each year. In 2022, we saw a 47% increase in usage, with employees contributing 447 hours of service to their communities individually. This increase was driven by a team-based challenge that encouraged bonding over shared causes and incentivized full participation. The winning team completed over 80% of their possible VTO hours, and DOC donated to their chosen charities, Guest House of Milwaukee and Project I Am, to recognize their efforts.

Pictured Above & Below: Company Sponsored and Volunteer Time Off Highlights

OUR GOVERNANCE

We are dedicated to maintaining a high standard for corporate governance predicated on integrity, ethics, diversity, and transparency, furthering the long-term interests of our investors and other stakeholders.

Our Board’s dedication to the principles in our corporate governance policies leads to prioritizing strong governance that is integral to DOC’s success. Our corporate governance practices are intended to provide the decision-making and behavioral framework needed to promote long-term value creation, properly manage short- and long-term business risks, and provide transparency and accountability for all our stakeholders.

Back row left to right: Ava E. Lias-Booker, Esq., Mark A. Baumgartner, Albert C. Black, Jr., Pamela J. Kessler, and Richard A. Weiss, Esq.

Front row left to right: William A. Ebinger, M.D., Honorable Tommy G. Thompson, John T. Thomas, and Stanton D. Anderson, Esq.

BOARD STRUCTURE, RESPONSIBILITIES, & EXPERIENCE

GRI 102-18, 102-19, 102-20, 102-22, 102-26, 102-27, 102-29, 102-30, 102-31, 102-32, 103-1, 205-1

We have structured our corporate governance in a manner we believe closely aligns our interests with those of our shareholders. Notable features of our corporate governance structure include the following:

Accountability to Shareholders

Board Independence

• Annual Board Elections

• Majority Voting for Trustees

• Trustee Resignation Policy for Failed Elections

• All Nine Trustees Except One Management Trustee are Independent under New York Stock Exchange (“NYSE”) Rules

• Audit, Nominating, and Compensation Committees are 100% Independent

• Independent Chairman

• Separate Chairman and CEO Roles

• Independent Trustees Meet Without Management Regularly

Alignment with Shareholder Interests

• Annual Trustee Equity Awards That Vest Over Two Years

• Trustee and Executive Officer Stock Ownership Guidelines

• Commitment to Corporate Sustainability

• Committee-Level Oversight of Environmental, Social, and Governance (“ESG”) and Human Capital Management Matters

• Corporate Governance Guidelines

• Code of Business Conduct and Ethics

• Opted out of Business Combination and Control Share Acquisition Statutes In the Maryland General Corporation Law

• No Shareholder Rights Plans

STRATEGIC OVERSIGHT

Oversight of the Company’s business strategy and strategic planning is a key responsibility of the Board. The Board believes that overseeing and monitoring strategy is a continuous process and the Board takes a multilayered approach in exercising its duties.

The Board is committed to oversight of the Company’s business strategy and strategic planning, including work embedded in the Board committees, regular Board meetings, and dedicated meetings each year to focus on strategy.

This ongoing effort enables the Board to focus on Company performance over the short, intermediate, and long term, as well as the quality of operations. In addition to financial and operational performance, non-financial measures, including sustainability metrics, are discussed regularly by the Board and Board committees.

While the Board and its committees oversee strategic planning, Company management is charged with executing the business strategy. To monitor performance against the Company’s strategic goals, the Board receives regular updates and actively engages in dialogue with our Company’s senior leaders. These boardroom discussions are enhanced with in-depth investment discussions, which provide Board members an opportunity to monitor the Company’s execution against strategic goals. The Board’s oversight and management’s execution of business strategy are viewed with a long-term mindset and a focus on assessing both opportunities for and potential risks to the Company.

Board Structure, Responsibilities, & Experience ESG Oversight Compensation

Best Practices

Data & Cybersecurity Supply Chain Management Governance Policies & Shareholder Rights

SKILLS & EXPERIENCE DESCRIPTION

Health Care

KNOWLEDGE, SKILLS, AND EXPERIENCE

Health Care

Real Estate

Strategy and Business Development

Government and Regulatory

Risk Management

Finance and Reporting

Board

Senior Leadership

DEI

Independent

Gender

Male

Female

Race/Ethnicity

African American or Black

Alaskan Native or American Indian

Asian

Hispanic or Latinx

Native Hawaiian or Pacific Islander

Real Estate

Enhances the Board’s ability to understand the Company’s portfolio and business, assess challenges specific to the health care industry, and evaluate the Company’s strategy

Provides the Board with insight into understanding the Company’s strengths and challenges specific to real estate investment trusts (“REITs”) and real estate industries

Strategy & Business Development

Allows the Board to guide the Company in the execution of its short-term and long-term business strategies and supports the ongoing evaluation of the Company’s assets and portfolio

Government & Regulatory Promotes the Board’s understanding of the Company’s compliance with regulatory requirements

Risk Management Helps the Board appreciate, anticipate, and oversee the Company’s management of its various risks

Finance & Reporting Assists the Board in understanding and overseeing the Company’s financial statements, financial reporting, and internal controls

Board Provides insight into public and/or private company best practices and enhances the Board’s oversight of operations and governance

Senior Leadership Brings leadership qualifications and skills and encourages development of leadership qualities in others while navigating in an atmosphere of continued change

White

BOARD DIVERSITY

To ensure a broad range of perspectives, we seek to maintain a diverse Board representing varied experience, tenure, skills, and backgrounds, including diversity in race, gender, and geography. In 2022, our Nominating and Corporate Governance Committee nominated Ava Lias-Booker, Esq. to further enhance the diversity and thought leadership of our Board of Trustees. Ms. Lias-Booker is a partner at McGuireWoods LLP, an international law firm, where she leads the litigation practice of the firm’s Baltimore office.

Diversity, Equity, and Inclusion

Facilitates the Company’s DEI initiatives to foster equity in the workplace by providing recruitment, retention, education, and advancement support for our employees Based on trustee nominees’ self-identified characteristics. We do not currently have any Trustees who self-identify as LGBTQIA+.

Ms. Lias-Booker has been with McGuireWoods LLP since 2004. A seasoned trial and appellate lawyer, Ms. Lias-Booker has over three decades of first chair trial experience representing businesses from a broad range of industries in complex commercial and civil litigation. She is also chair of the firm’s Diversity & Inclusion Committee, a member of its Diversity Action Council, and part of its seven-member Associates Committee. With this appointment, 33% of our Board identifies as women or ethnically diverse.

Board Structure, Responsibilities, & Experience ESG Oversight Compensation Best Practices Data & Cybersecurity Supply Chain Management Governance Policies & Shareholder Rights

ESG OVERSIGHT NEW

GRI 102-18, 102-19, 102-20, 102-22, 102-26, 102-27, 102-29, 102-30, 102-31, 102-32, 103-2, 103-3, 205-1, 413-1

ESG BOARD OVERSIGHT

BOARD OF TRUSTEES | Actively oversees our Company-wide ESG efforts by approving high-level strategy and reviewing management briefings on vision, targets, progress, and industry trends.

Nominating and Corporate Governance Committee

Oversees all ESG, human capital, health and safety, and diversity, equity, and inclusion policies and initiatives and receives quarterly progress updates on goals, performance, and initiatives as needed.

Finance & Investment Committee

Monitors and oversees major capital expenditures as part of their financial and operations stewardship.

COMPANY OVERSIGHT

Compensation Committee

Approves the company’s annual compensation structure, including targeted ESG performance metrics in our new ESG Scorecard.

Audit Committee

Oversees DOC’s enterprise risk management program, including our cybersecurity and information technology system risk management, which identifies the primary risks to our business.

EXECUTIVE MANAGEMENT | Accountable for portfolio-wide ESG strategy, implementation, and performance.

ESG Committee

This committee represents a cross-functional approach to planning and executing ESG strategies with team members from multiple departments, including construction and project management, accounting, asset management, leasing, human resources, administration, marketing, communications, and investments.

The ESG Committee and its Environmental, Social, and Governance subgroups meet monthly or weekly as needed to set goals, measure progress, and report on successes. The ESG Committee is an employee committee led by our Executive Vice President of Asset Management, who oversees all internal ESG matters and reports directly to our President and CEO.

Diversity, Equity, and Inclusion (DEI) Council

The DEI Council sets ambitious, attainable, and authentic goals, develops educational platforms, and plans activities to promote DEI at all levels of our organization. We take a personalized approach, driven by a membership that represents all workgroups within our Company.

Our DEI Council, which meets monthly, operates under the direction and full support of our Senior Vice President and Deputy Chief Investment Officer, who reports on activities to our President and CEO. In addition, the DEI Council is overseen by the Nominating and Corporate Governance Committee and reports to the entire Board as needed. We feel that this level of visibility leads to high engagement, accountability, and fulfillment of our DEI goals.

Team Member Led-Committees to Support Health, Wellness, Professional Development, Philanthropic Giving, and Culture

Philanthropy Committee

Sets goals and plans team-led philanthropic and charitable activities.

DOC’S ESG TEAM

Lunch & Learn Committee

Serves the team through informative and engaging content, including improving financial wellness, learning about different team workgroups, and other career skills.

Social Committee

Creates creative and engaging events that are inclusive of all team members, including those that are remote, to support DOC’s culture.

Health & Wellness Committee

Encourages a holistic approach to wellness, benefiting our team members’ overall health and well-being.

The ESG Committee is led by our Executive Vice President of Asset Management, who oversees all internal ESG matters and reports directly to our President and CEO. ESG Committee | Tim Bowar, David Domres, Michael Farinawicz, Greg Gallagher, Jordan Ivans, Allison King, Libby Langenderfer, Leann Mester, Kat O’Connell, Amy Sovine, Andrea Srock, and Mark Theine

ESG Oversight

Board Structure, Responsibilities, & Experience Compensation Best Practices Data & Cybersecurity Supply Chain Management Governance Policies & Shareholder Rights

COMPENSATION BEST PRACTICES

GRI 102-18, 102-26, 102-28, 102-29, 102-30, 102-31, 102-32, 102-35, 102-36, 103-2, 103-3

WHAT WE DO

• Link annual incentive compensation to the achievement of pre-established corporate and individual performance goals;

• Provide our long-term compensation in the form of performance-based restricted stock units;

• Balance short-term and long-term incentives;

• Align executive compensation with shareholder returns through long-term incentives;

• Use appropriate peer groups when establishing compensation;

• Maintain stock ownership guidelines;

• Include clawback provisions in employment agreements with our NEOs and in our STIP;

• Include “double-trigger” change in control provisions in employment agreements with our NEOs;

• Conduct an annual compensation risk assessment of our compensation policies and practices; and

• Use an independent compensation consultant.

ESG SCORECARD: 2023 PERFORMANCE METRIC

Consistent with adopting ESG goals for our business, the compensation committee added a new ESG metric to our 2023 long-term incentive plan to link executive compensation to company performance.

This ESG scorecard metric includes numerous quantitative and qualitative environmental, social, and governance factors to connect our executives’ incentive compensation to DOC’s ESG performance. This metric aligns with the company’s current key ESG initiatives, including but not limited to the following areas:

• Transparent environmental disclosure

• Excellence in ESG reporting

• Sustainability-driven capital investment targets

• DEI training

• Employee satisfaction

X WHAT WE DO NOT DO

• Provide tax gross-ups for executive officer compensation;

• Provide extensive perquisites to our executive officers;

• Guarantee salary increases, bonuses or equity grants;

• Provide uncapped payouts for short-term and long-term incentive awards; or

• Allow for “single-trigger” change in control cash payments.

• Employee engagement

• Supplier diversity targets

DATA & CYBERSECURITY NEW

GRI 102-18, 102-29, 102-30, 103-1, 404-2, 418-1

CYBERSECURITY OVERSIGHT

• We deploy a cybersecurity defense strategy with multiple layers of controls, including embedding security into our technology investments.

• We invest in threat intelligence and are active participants in industry and government forums to improve sector cybersecurity defense.

• We collaborate with our peers in threat intelligence, vulnerability management, response, and drills.

• We perform simulations and drills at both technical and management level, including annual cybersecurity training for all employees.

• We utilize the expertise of top information security providers to conduct external and internal audits of our cybersecurity defense program and implement their recommendations for improved security.

• We adopted and review annually our Security Breach Incident Response Plan, which incorporates our annual cybersecurity training program.

• We maintain a cybersecurity risk insurance policy.

• Management briefs our audit committee on a quarterly basis on controls, protocols, and activities, including but not limited to employee training, risk mitigation, and assessment measures.

SPOTLIGHT ON EMPLOYEE CYBER TRAINING NEW

DOC achieved a 100% team member participation rate in our annual cybersecurity awareness training program. This achievement is a testament to the company’s efforts to educate and empower its employees to protect themselves and the company from cyber threats. Employees are also regularly tested on phishing and social engineering threats and receive supplemental training as needed. Our security awareness training program imparts comprehensive knowledge to employees on the essential security concerns they may encounter in their daily operations. The curriculum encompasses topics such as incident management, malware defense, secure internet navigation and human firewall techniques, phishing and social engineering mitigation, mobile device and cloud security, preventive maintenance and backup procedures, physical and non-technical security protocols, privacy regulations, and organizational policies.

100% PARTICIPATION RATE IN ANNUAL CYBER SECURITY AWARENESS TRAINING

0 REPORTED CYBERSECURITY BREACHES IN COMPANY HISTORY

1 FULL IT DISASTER RECOVERY EXERCISE COMPLETED PER YEAR

We have had zero known cybersecurity breaches in the company’s history, including no known substantiated complaints regarding customer privacy breaches, customer data losses, or material costs incurred related to such matters.

Data & Cybersecurity Board Structure, Responsibilities, & Experience ESG Oversight Compensation Best Practices

Supply Chain Management Governance Policies & Shareholder Rights

SUPPLY CHAIN MANAGEMENT NEW

GRI 102-9, 102-15, 103-1, 103-2, 103-3, 308-1, 404-2, 414-1

DOC remains committed to supporting diverse-owned businesses and building stronger communities through responsible supply chain practices. We firmly believe that a diverse supply chain is vital to promoting innovation, enhancing quality, and fostering economic growth, so we aim to work with minority-, women-, veteran-, LGBTQIA-, or disabled-owned businesses or be a registered Historically Underutilized Business (HUB). These certified diverse vendors and suppliers (CDV) represent a wide range of backgrounds and experiences, just like our clients.

We feel that our commitment to diversity and inclusion in our supply chain gives us a competitive edge, enabling us to access new markets, products, and services.

2022 ACHIEVEMENTS

In 2022, we continued to progress toward our goals by increasing our spend to over $2.92 million in goods and services provided by CDV within our property-level controllable operating spend. This represents a 102% increase from our baseline spend of $1.45 million in 2020, thereby achieving our initial 2022-2024 goal in just 12 months.

OUR SPEND WITH CERTIFIED DIVERSE VENDORS (CDV)

IMPACT OF 2022 CDV SPEND

Women-owned Businesses

Minority-owned Businesses

Veteran-owned Businesses

Other Diverse Businesses*

To participate in our CDV program, companies must provide certification as a minority-, woman-, veteran-, LGBTQIA-, or disabled-owned business or be a registered Historically Underutilized Business (HUB).

NOTE: CDV may qualify under multiple categories based on their certifications.

*Other CDVs include Disability-owned businesses, LGBTQIA+-owned businesses, and HubZone businesses

Sydonia Blake Contract & Supplier Diversity Manager

OUR ROADMAP NEW

Although more work can be done to increase our CDV spending, DOC has made significant progress in promoting and supporting CDV. In 2020, we conducted a benchmarking and spend category analysis, which helped us identify the areas where we could make the most significant impact. In 2021, we set internal goals to measure our CDV performance and identify gaps in our

Leveraging Data & Partnerships to Drive Success

• Engaging with a diverse supplier database, Supplier.io, to source CDV for our projects and provide certification tools

• Launching a new vendor procurement and contract management platform, Icertis, to track CDV spend and monitor trends

• Utilizing national contracts to create scale, target potential efficiencies, and provide portfolio-wide reporting for enhanced decision-making

program. In 2022, we focused on increasing our spend with current CDV, onboarding new suppliers, and providing resources to our existing suppliers to help them obtain certification when applicable. Other efforts included:

Leadership & Continuing Education

• Holding company-wide and market-specific management training events to further our supplier diversity and procurement goals

• Joining the National Minority Supplier Development Council (NMSDC) Georgia Chapter

• Attending the 2022 NMSDC Conference and the 2023 Women’s Business Enterprise National Council (WBENC) to network with CDV and invite them to bid on our projects

• Speaking at the 2023 CRE Forward ESG Summit in Atlanta on the topic of supplier diversity

NEW 2023-2025 CDV GOAL PROPERTY-LEVEL CONTROLLABLE OPERATING SPEND

Obtain bids from CDV for at least 30% of contracts over $100,000, with 10% of such contracts awarded to qualified CDV

CDV SPOTLIGHT: YARDI MARKETPLACE

Certification Type Minority Business Enterprise (MBE)

Business Model Central-source portal for office, janitorial, and maintenance supply companies

Why We Use It

What We Did

Leverages bulk purchasing and volume discounts to benefit our national portfolio

Through promotion and education efforts, DOC increased utilization of this portal, resulting in a 73% increase in year-over-year spending while driving operational savings in supplies averaging 5 to 15% per property enrolled

Governance

• Leveraging data from a new vendor intake form to gain visibility into the environmental and DEI practices of our vendors and suppliers while obtaining sign-off on our Vendor and Supplier Code of Conduct

• Revising our Vendor and Supplier Code of Conduct, effective in 2023

• Monitoring CDV certifications, compliance, and expirations

To learn more about DOC’s supply chain management policies, view our newly revised Vendor and Supplier Code of Conduct on our website.

DOC VENDOR ENGAGEMENT SURVEY RESULTS

In 2022, we launched a new required vendor intake form to assess ESG and DEI initiatives for all new and current vendors. As of May 1, 2023, 55.2% of our suppliers have responded, accounting for 79.8% of our 2022 property-level controllable operating spend. DOC will use the data for enhanced benchmarking, decision-making, goal-setting, and vendor engagement.

Early Results to Date

13.2% ARE DECLARED DIVERSE BUSINESS ENTERPRISES

6.8% ARE CERTIFIED DIVERSE BUSINESS ENTERPRISES

21.7% HAVE CORPORATE ENVIRONMENTAL POLICIES

50.6% HAVE CORPORATE SOCIAL POLICIES

Supply Chain Management Board Structure, Responsibilities, & Experience ESG Oversight Compensation Best Practices Data & Cybersecurity Governance Policies & Shareholder Rights

GOVERNANCE POLICIES & SHAREHOLDER RIGHTS

GRI 102-16, 102-17, 102-18, 102-33, 103-1, 103-2, 103-3, 205-1, 205-2, 412-2

One of our four core values is Act with Integrity, which reflects the expectation of the highest ethical behavior from our team members, trustees, employees, and business partners in all aspects of our business.

ETHICS AND INTEGRITY

Our corporate policies are available at https://investors.docreit.com/corporate-information/documents/default.aspx.

CODE OF BUSINESS CONDUCT & ETHICS

All directors, officers, and team members must comply with all applicable laws, regulations, and policies. Our Code of Business Conduct and Ethics is reviewed annually and updated as necessary.

• We provide policies that detail the responsible business conduct we expect from our team members upon hire and annually.

• We provide and facilitate access to resources for team members with questions or concerns.

• We train team members regularly on our policies, anti-corruption laws and regulations, and behavioral expectations.

• We are committed to ethical business conduct and take compliance seriously. We have a zero-tolerance policy for violations of our policies and will take appropriate action, up to and including termination, for those who violate our policies.

HUMAN RIGHTS STATEMENT

DOC revised its Human Rights Statement in 2023 to better reflect our aspirations with respect to the human rights.

• We strive to conduct our business in a manner that is consistent with the United Nations Universal Declaration of Human Rights principles.

• We are a signatory to the United Nations Women's Empowerment Principles.

• We prohibit child and forced labor and respect the rights of all persons impacted by our business.

• We promote safe and healthy workplaces and strive to maintain a culture free of violence, harassment, intimidation, and other unsafe or disruptive conditions as part of our DEI efforts.

VENDOR & SUPPLIER CODE OF CONDUCT

DOC revised its Vendor and Supplier Code of Conduct in 2023. We expect our vendors, operators, tenants, and contractors to uphold the same standards to which we aspire. Our vendor service contracts include standards for business ethics, integrity, and anti-bribery, and we require that our vendors comply with all applicable laws, including laws pertaining to:

• Human rights and labor standards

• Human trafficking

• Forced labor and child labor

• Anti-harassment

• Wages and working hours

• Diversity, equity, and inclusion

• Health and safety

• Environmental impact and compliance with environmental regulations

• Anti-corruption

WHISTLEBLOWER POLICY

• DOC is committed to fair, accurate, and transparent accounting of its financial matters.

• All employees, officers, and trustees of the company or its subsidiaries are expected to act in accordance with the highest ethical standards and its Code of Business Conduct and Ethics.

• The company requires full compliance with all applicable laws and regulations, including but not limited to securities and commodities laws and regulations, accounting standards, accounting controls, and audit practices.

• The company prohibits violations of applicable laws relating to fraud.

• All whistleblower notifications are directed to the Chairman of our Audit Committee.

Governance Policies & Shareholder Rights Board Structure, Responsibilities, & Experience ESG Oversight Compensation Best Practices Data & Cybersecurity Supply Chain Management

ACCESSIBILITY MATTERS NEW

DOC updated its website in 2022 to meet WCAG 2.0 and 2.1 Level A & AA standards for accessibility, ensuring that users can easily access our website, whether an individual is using assistive technologies like a screen reader, a magnifier, voice

recognition software, or captions for videos. We conducted compliance auditing and team testing with specialists with disabilities to achieve this goal, and we remain committed to the ongoing maintenance of our digital home at www.docreit.com

SHAREHOLDER RIGHTS

Shareholders have the right to call a special meeting

As a Maryland REIT, we have opted out of the Maryland Control Share Acquisition Act and the Maryland Business Combination Act

Majority vote requirement for mergers requires a shareholder vote

Our shareholders have the power to amend our Bylaws

Endnotes

ABOUT THIS REPORT

GRI 102-12, 102-43, 102-46, 102-47, 102-50, 102-54, 103-1

This is our second report aligned with the Global Reporting Initiative (GRI) Standards (Core option). In addition, we provide additional disclosures in alignment with the Sustainability Accounting Standards Board (SASB) and the Taskforce on Climate-Related Financial Disclosures (TCFD). Our efforts are also aligned with 12 of the 17 United Nations Sustainable Development Goals (UN SDGs), represented at the beginning of each section of this ESG Report and within the UN SDGs Index pages 57-58.

The main body of this report pages 1-53 describes our ESG programs and strategy. Our Appendices pages 54-75, including the GRI Content Index pages 60-68, include specific metrics and information not included in the body of the report and references to where additional information can be found.

This report covers the calendar year 2022 unless otherwise indicated.

ESG DISCLOSURE ROADMAP

This report is the primary way we convey to our stakeholders our goals and approach to environmental, social, and governance (ESG) matters. It builds on the content in our Annual Report/Form 10-K and our Proxy Statement, both available on our website, to tell the full story of DOC’s long-term value creation.

Annual Report/10-K

Summarizes ESG program priorities and material risk disclosures

Proxy Statement

Summarizes how the Board and management set and execute ESG strategy and are accountable for results

ESG Report

Provides a comprehensive update on our ESG performance and goals using the GRI Standards

TEAM INFORMATION

GOVERNING BODIES

(as of May 3, 2023)

Endnotes

UNITED NATIONS SDGS INDEX

GRI 102-12, 102-15, 102-16, 103-1, 103-2, 103-3, 401-2, 403-6, 404-2, 405-1

The United Nations adopted the Sustainable Development Goals (SDGs) to achieve significant progress on global economic, social, and environmental challenges by 2030. Although these goals are directed at governments, the private sector and civil

society play an important role in supporting governments’ national plans. This report features 12 of the 17 SDGs in which DOC makes significant contributions, and we have aligned our ESG activities with these SDGs throughout this report.

GOAL POTENTIAL IMPACT NEW EFFORTS & PROGRESS TO DATE

Good Health & Well-Being

Ensure healthy lives and promote well-being

• Added a new quarterly wellness reimbursement program tailored to the needs and interests of each team member to support physical, mental, financial, personal, and professional wellness

• Added 8 hours of mental health programming and support, including paid access to an award-winning mental health and wellness app and a new yearly paid time off day for mental health and wellness

Quality Education

Ensure inclusive and equitable quality education and promote lifelong learning opportunities

Gender Equality Achieve gender equality and empower those that identify as women

• Held annual training events, annual book club discussions, and company-wide “Lunch & Learn” sessions

• Launched a new quarterly wellness reimbursement program that provides support for enrichment and professional development activities

• Added to the Bloomberg Gender-Equality Index as a first-time submitter in January 2023

• Signatory to the United Nations Women's Empowerment Principles

• Added additional thought leadership, diversity, and female representation to our Board of Trustees through the appointment of Ava Lias-Booker, Esq.

• In 2022, 67% of team members promoted represented those who identify as Black, Indigenous, people of color, female, veteran, or LGBTQIA+

• Monitored gender diversity trends, including women in our total workforce (60%), management VP level and above (21%), and our Board of Trustees (22%)

Clean Water & Sanitation Ensure the sustainable use and management of water resources

Affordable & Clean Energy Ensure access to affordable, reliable, sustainable, and modern energy

Decent Work & Economic Growth Promote inclusive and sustainable economic growth, full and productive employment, and prosperity in our communities

• 6.0% water reduction over a 2018 baseline

• DOC’s 2023 Earth Day theme was “Every Drop Counts,” focusing on water conservation education at our properties

• 8.8% energy reduction over a 2018 baseline

• Deployed a new 134kW rooftop solar array in Hartford, CT, projected to generate 159,545 kWh of carbon-free energy per year for the local grid

• Conducted annual company-wide employee satisfaction survey with a 95% response rate

• Conducted comprehensive, team-led benefits review to ensure it is competitive and meets the company’s needs

• All full-time employees were paid more than $18/hour in 2022

• 94% employee retention rate (a year-over-year increase of over 4%)

Endnotes

GOAL POTENTIAL IMPACT NEW EFFORTS & PROGRESS TO DATE

Industry, Innovation, & Infrastructure

Own and maintain resilient infrastructure, promote inclusive and sustainable industrialization, and foster innovation

Reduced Inequities Increase the diversity of our vendors and contractors

Sustainable Cities & Communities

Make cities inclusive, safe, resilient, and sustainable

• 31 sustainability-driven capital expenditure projects totaling $5.6M

• 5.1 Years Average Return on Investment and $10.6M 10-Year Operating Savings

• 26% GLA under IREM CSP, ENERGY STAR®, or LEED certification

• Provided DEI Council programming to support and promote equal opportunity for all, including the areas of recruitment, retention, professional development, and community outreach

• 75% of DOC’s 2022 summer interns were diverse, representing those who identify as female, veteran, LGBTQIA+, or BIPOC

• Exceeded 3-year goal of increasing Property-Level Controllable Spend with certified diverse vendors by 102% ($1.45 M to $2.92 M)

• Earned 2023 ENERGY STAR® Partner of the Year recognition

• Engaged with our communities through $408,800 in 2022 philanthropic, fundraising, and in-kind giving

• Completed 902 hours of local and national volunteer projects, exceeding our 600-hour goal by over 50%

Responsible Consumption & Production Ensure sustainable consumption and production patterns

Climate Action Reduce GHG emissions from operations and prepare for environmental impacts

Peace, Justice, & Strong Institutions

Maintain and continually refine corporate governance policies to promote transparency and accountability

• 6.8% increase in waste diversion over a 2018 baseline

• Added additional recycling sites, resulting in an additional 50 metric tons of landfill diversion

• 20.8% reduction in operational Scope 1 and 2 GHG emissions over a 2018 baseline (Thousand Metric Tons of CO2e)

• SBTi Validated Climate Goals (Well-below 2°C)

• Revised Human Rights Statement and Vendor and Supplier Code of Conduct

• Developed an ESG Scorecard to benchmark sustainability performance for long-term incentive plans

ENERGY & EMISSIONS DATA7, 8, 9

See page 75 for endnotes. To learn more about our reporting group, visit the Benchmarking & Methodology section on page 24.

GRI CONTENT INDEX

GRI 102-12, 102-55

Physicians

Trust is proud to align our ESG Report with the Global Reporting Initiative (GRI) Core Option. GRI helps organizations be transparent and take responsibility for their impacts with the intent to create a more sustainable future. In addition, it creates a common language for organizations to report their results and enables more informed dialogue and decision-making.

is a health care REIT. Our principal investments include outpatient medical buildings, ambulatory surgery centers (“ASCs”), outpatient treatment facilities, and other real estate integral to health care providers.

Full-time employees are defined as those that work 40 hours per week. No significant portion of our activities is performed by workers who are not employees. During the calendar year 2022, we had eight summer interns, three of which remained on a part-time basis as of December 31, 2022. Two transitioned into full-time, permanent positions. Our employee data is captured through Zenefits.

2022 Annual Report and 2022 Form 10-K 102-11

The Precautionary Principle is integrated into our vision for sustainability. 102-12

We incorporate principles and disclosures from the following external environmental and social initiatives:

• IREM CSP Designation

• LEED Certification

• Science Based Targets initiative (SBTi)

• Sustainability Accounting Standards Board (SASB)

• Taskforce on Climate-Related Financial Disclosures (TCFD)

• United Nations Sustainable Development Goals (UN SDGs)

Endnotes

ETHICS AND INTEGRITY

GOVERNANCE

The Board of Trustees meets quarterly, at a minimum, to review economic, environmental, and social topics and their impacts, risks, and opportunities. Our Nominating and Corporate Governance Committee oversees the company’s ESG strategy, practices, and performance.

REPORTING PRACTICES

MANAGEMENT APPROACH

Additional detail provided alongside identified material topics (see sections below)

Additional detail provided alongside identified material topics (see sections below)

Additional Governance Documents can be accessed on our website, including Bylaws, Code of Business Conduct and Ethics, Committee Charters, Corporate Governance Guidelines, Declaration of Trust, Insider Trading Policy, and Related Person Transaction Policy

ECONOMIC PERFORMANCE

Additional detail provided alongside identified material topics (see sections below)

MARKET PRESENCE

202-2 Proportion of senior management hired from the local community

ANTI-CORRUPTION

Our company is headquartered in Milwaukee, Wisconsin, which we define as “significant locations of operation” for the purposes of this disclosure. As of December 31, 2022, four individuals out of our ten member senior management team (which we define as Senior Vice President and higher) were residents of the Milwaukee Metropolitan Statistical Area (“The “Milwaukee Metro”). The Milwaukee Metro consists of Milwaukee, Waukesha, Washington, and Ozaukee counties, which we consider to be “local” for the purposes of this disclosure.

ANTI-COMPETITIVE BEHAVIOR

52 Our Code of Business Conduct and Ethics and Vendor and Supplier Code of Conduct specifically require compliance with all applicable laws, rules, orders, and regulations, which include those that prohibit corrupt business practices. Our forms of Vendor Service Agreement and Purchase Order contain our code of business conduct and ethics, our vendor and supplier code of conduct, and our whistleblower policies and procedures. All business partners who contract using those forms are thereby made aware of these specific anti-corruption policies and procedures.

WATER AND EFFLUENTS

303-1

BIODIVERSITY

20, 31, 69-71 Where Physicians Realty Trust Properties retains operational control of water services, water is purchased directly from local utilities. Where the tenant has operational control, they are billed back for their portion of usage on a PSF basis. All water purchased/withdrawn by Physicians Realty Trust is tracked via third-party utility monitoring through Engie, Measurabl, and ENERGY STAR. The most significant impacts on the environment at our properties are irrigation systems. We are evaluating smart irrigation control systems at our highest water consumption properties for potential expansion. Our sustainability standards indicate that replacements of common area fixtures must be changed to low-flow devices. Additionally, we host educational events for our tenants designed to inform and share ways they may be able to find other water efficiencies within their direct operational control.

EMISSIONS

306-1 Waste generation and significant waste-related impacts 20 The majority of waste generated in our portfolio is produced by our tenants. Our company manages waste disposal for the multi-tenant properties in our portfolio. To reduce the waste for which we are responsible and to maximize diversion away from landfills, we: 1) maintain a national waste management agreement to create scale and increase reporting, 2) hold e-cycling events, 3) perform waste audits to identify opportunities to expand recycling sources and access, and 4) implement waste management best practices.

306-2 Management of significant waste-related impacts 20, 25-26, 30 We contract with Waste Management to consolidate our waste reduction and recycling efforts. Waste Management advises and assists us with potential enhancements to our waste-related efforts through periodic reviews of our portfolio’s waste-related data and suggested waste reduction measures.

306-3 Waste generated

ENVIRONMENTAL COMPLIANCE

Total waste in metric tons = 9,562

• Trash = 7,385

• Single Stream Recycling = 1601

• Cardboard = 321

• Co-Mingle = 177

• Mixed Recyclables = 57

• Medical = 18

• Construction = 3

This data has been compiled by Waste Management for properties within our reporting group.

SUPPLIER ENVIRONMENTAL ASSESSMENT

The company has not received notice of any violations.

52 Vendor and Supplier Code of Conduct

DOC offers six weeks of fully-paid parental leave, an employer-funded short-term disability policy, and accrued paid time off. Our leave and accrual policy allows employees to accrue and carry over up to one year’s allotment of PTO hours.. In 2022, our parental leave participation included:

a. Total number of employees that were entitled to parental leave: Total: 90 | Female: 47; Male: 43

b. Total number of employees that took parental leave: Total: 7 | Female: 1; Male: 6

c. Total number of employees that returned to work in the reporting period after parental leave ended: Total: 6 | Female: 0; Male: 6

d. Total number of employees that returned to work after parental leave ended and were still employed 12 months after their return to work:

Total: 6 | Female: 0; Male: 6 (Note: Of the above-referenced employees who took parental leave in 2021, two have returned to work and have remained employed for a 12-month period. Four employees who took parental leave in 2022 continue to be employed, but the 12-month period has not ended.)

e. Return to work and retention rates of employees that took parental leave: Female: 0%; Male: 100%

OCCUPATIONAL HEALTH AND SAFETY

Number and rate of fatalities: 0 / 0

Number and rate of high consequence injuries: 0 / 0

Number and rate of recordable work related injuries: 1 / 0.952 (per 200,000 hours worked)

TRAINING AND EDUCATION

All employees participate in our annual review process. This includes formal, quarterly check-in conversations and regular goal monitoring throughout the year.

DIVERSITY AND EQUAL OPPORTUNITY

Our primary governance bodies are our nine-member Board of Trustees elected by our shareholders and our Executive Officers comprised of our nine senior-most leaders in the company. All members of our Board of Trustees are over 50 years old. Four members of our Executive Officers are between 30 and 50 years old, and the others are over 50.

NON-DISCRIMINATION

406-1

discrimination

corrective actions taken Physicians Realty Trust is an equal opportunity employer and had no incidents or reports of discrimination where corrective actions were required to be taken.

CHILD LABOR

103-1 Explanation of the material topic and its Boundary 52

408-1 Operations and suppliers at significant risk for incidents of child labor

FORCED OR COMPULSORY LABOR

103-1 Explanation of the material topic and its Boundary 52

409-1 Operations and suppliers at significant risk for incidents of forced or compulsory labor

HUMAN RIGHTS ASSESSMENT

103-1 Explanation of the material topic and its Boundary 34, 52

Physicians Realty Trust does not tolerate forced, bonded, or child labor and supports the elimination of these forms of labor. Human Rights Statement

Physicians Realty Trust does not tolerate forced, bonded, or child labor and supports the elimination of these forms of labor. Human Rights Statement

412-2 Employee training on human rights policies or procedures 52 Human Rights Statement

LOCAL COMMUNITIES

103-1 Explanation of the material topic and its Boundary 16, 42

413-1 Operations with local community engagement, impact assessments, and development programs 16, 17, 31, 35-36, 37, 42, 47

SUPPLIER SOCIAL ASSESSMENT

Our team-lead Philanthropy Committee assists in establishing internal giving targets and makes annual recommendations on our strategic giving initiatives to support community outreach. This year, DOC invested $408,800 in philanthropic causes in the communities we serve. We also fundraised $150,000 to support pediatric cancer research at our annual cureHUNTER event. Collectively, our team volunteered 902 hours in 2022. These efforts were made possible through company-sponsored initiatives and individual contributions, leveraging our volunteer time off program, which offers eight hours of paid time off per year to engage in community service activities.

103-1 Explanation of the material topic and its Boundary 50-51, 52 Vendor and Supplier Code of Conduct

414-1 New suppliers that were screened using social criteria 50-51

PUBLIC POLICY

103-1 Explanation of the material topic and its Boundary 11, 16, 52

415-1 Political contributions

CUSTOMER HEALTH AND SAFETY

103-1 Explanation of the material topic and its Boundary 25-26, 29, 30

416-1 Assessment of the health and safety impacts of product and service categories 25-26, 29, 30

CUSTOMER PRIVACY

103-1 Explanation of the material topic and its Boundary 49

418-1 Substantiated complaints concerning breaches of customer privacy and losses of customer data 49

Our company does not make contributions of any kind to any political candidates or their campaigns.

SASB REPORT

The Real Estate Sustainability Accounting Standards issued by the Sustainability Accounting Standards Board (SASB) in 2018 proposed metrics designed for disclosure in mandatory filings. These filings are included on pages 7 and 8 of our Annual Report on Form 10-K under Our Objectives and Growth Strategy. Beginning with our 2020 ESG report, Physicians Realty Trust has aligned our disclosures with SASB standards on ESG issues important to our company and mission.

Energy and water data is collected from utility bills and submeters and assured by a third party. The recommended energy and water management activity metrics for the real estate industry include:

• energy consumption data coverage as a percentage of floor area (“Energy Use Intensity”)

• total energy consumed by portfolio area (“Total Energy Consumption”)

• water withdrawal as a percentage of total floor area (“Water Use Intensity”)

• total water withdrawn by portfolio area (“Total Water Consumption”)

The charts below detail our Energy Use Intensity, Total Energy Consumption, Water Use Intensity, and Total Water Consumption for 2018 through 2022, for which data on occupied and managed properties were available. Total energy use is presented in energy use intensity and gigajoules, and total water is presented in water use intensity and per cubic meters.10, 11

ENERGY WATER

89% Water Withdrawal Data Coverage

See page 75 for endnotes.

WATER WITHDRAWAL OVERVIEW 12

762,426m3 Total Water Withdrawn by Portfolio with Data Coverage

17% % of Floor Area with High or Extremely High Baseline Water Stress

24% % in Regions with High or Extremely High Baseline Water Stress

RENEWABLE ENERGY OVERVIEW

TABLE 1. SUSTAINABILITY DISCLOSURE TOPICS & ACCOUNTING METRICS

ENERGY MANAGEMENT

ACCOUNTING METRIC

F-RE-130a.1 Energy consumption data coverage as a percentage of total floor area by property subsector

F-RE-130a.2 (1) Total energy consumed by portfolio area with data coverage, (2) percentage grid electricity, and (3) percentage renewable by property subsector 59, 69

F-RE-130a.3 Like-for-like percentage change in energy consumption for the portfolio area with data coverage by property subsector

F-RE-130a.4 Percentage of the eligible portfolio that (1) has an energy rating and (2) is certified to ENERGY STAR by the property subsector 27

F-RE-130a.5 Description of how building energy management considerations are integrated into property investment analysis and operational strategy 21-23

WATER MANAGEMENT

ACCOUNTING METRIC

IF-RE-140a.1 Water withdrawal data coverage as a percentage of (1) total floor area and (2) floor area in regions with High or Extremely High Baseline Water Stress by property subsector

IF-RE-140a.2 (1) Total water withdrawn by portfolio area with data coverage and (2) percentage in regions with High or Extremely High Baseline Water Stress by property subsector 69

IF-RE-140a.3 Like-for-like percentage change in water withdrawn for portfolio area with data coverage, by property subsector

IF-RE-140a.4 Description of water management risks and discussion of strategies and practices to mitigate those risks 11-15, 20, 25-26, 69

Like-for-like year-over-year change in energy consumption for our properties was +0.90%

Like-for-like year-over-year change in water withdrawn for our properties was +7%

MANAGEMENT OF TENANT SUSTAINABILITY IMPACTS

IF-RE-410a.1

Percentage of new leases that contain a cost recovery clause for resource efficiency-related capital improvements and (2) associated leased floor area by property subsector

IF-RE-410a.2 Percentage of tenants that are separately metered or sub-metered for (1) grid electricity consumption and (2) water withdrawals by property subsector

of approach to measuring, incentivizing, and improving sustainability impacts of tenants

CLIMATE CHANGE ADAPTATION

Area of properties located in 100-year flood zones by property subsector

Description of climate change risk exposure analysis, degree of systematic portfolio exposure, and strategies for mitigating risks

TABLE 2. ACTIVITY METRICS

Percentage of indirectly managed assets by property subsector

Average occupancy rate by property subsector

not currently monitor separately or sub-metered spaces.

of our leasable floor area to be “indirectly managed.”

considers

ASSURANCE STATEMENT

GRI 102-56, 103-3, 302-1, 302-4, 303-3, 305-1, 305-2, 305-5

Independent Assurance Statement

Provided by ISOS Group, Inc. On selected environmental metrics included in: Physicians Realty Trust’s 2022 ESG Report.

To the Management Team of Physicians Realty Trust:

ISOS Group, Inc. [“ISOS” or “we”] were engaged by Physicians Realty Trust [“Client” or “DOC”] to conduct moderate level type 2 assurance of environmental data to be reported in its 2022 ESG Report [“Report”], covering the period beginning January 1, 2022 and ending December 31, 2022 (“FY22”).

We have performed our moderate assurance engagement in accordance with the AccountAbility 1000 Assurance Standard v3 (“AA1000AS”). Our review was limited to the data reported in Physicians Realty Trust’s ESG Report comprising of:

 Energy consumption

 GHG emissions

 Water use

We have not performed any procedures with respect to other information included in 2022 ESG Report and, therefore, no conclusion on the Report as a whole is expressed.

Physicians Realty Trust’s responsibilities

The Company’s management are responsible for:

 Preparing the data in accordance with generally accepted reporting practices,

 The accuracy and completeness of the information reported,

 The design, implementation and maintenance of internal controls relevant to the preparation of the report to provide reasonable assurance that the report is free from material misstatement, whether due to fraud or error,

 Ensuring the data performance is fairly stated in accordance with the applicable criteria and for the content and statements contained therein.

Criteria

The assurance process was intended to provide an independent opinion confirming that the Client has complied with procedures for data management at the company and minimized degrees of error by adequately:

1. Sourcing utility data to populate relevant data management systems,

2. Enforcing management and quality controls across the reporting period,

3. Aggregating and converting metrics into the correct unit of measure,

4. Calculating greenhouse gas emissions, and

5. Disclosing all totals correctly into its 2022 ESG Report.

Boundary

Organizational Boundary Physicians Realty Trust acquires, selectively develops, owns and manages health care properties that are leased to physicians, hospitals, and health care delivery systems. The consolidated portfolio, as of December 31, 2022 consists of 290 properties located in 36 states.

Assurance Boundary The boundary of assurance includes one hundred and thirty four (134) properties in which Physicians Realty Trust has financial control and utility information available.

GHG Emissions Consolidation Approach

The GHG emissions boundary followed the operational control methodology specified in the GHG Protocol.

 The design, implementation and maintenance of internal controls relevant to the preparation of the report to provide reasonable assurance that the report is free from material misstatement, whether due to fraud or error,

 Ensuring the data performance is fairly stated in accordance with the applicable criteria and for the content and statements contained therein.

Criteria

The assurance process was intended to provide an independent opinion confirming that the Client has complied with procedures for data management at the company and minimized degrees of error by adequately:

1. Sourcing utility data to populate relevant data management systems,

2. Enforcing management and quality controls across the reporting period,

3. Aggregating and converting metrics into the correct unit of measure,

4. Calculating greenhouse gas emissions, and

5. Disclosing all totals correctly into its 2022 ESG Report.

Boundary

Endnotes

Organizational Boundary Physicians Realty Trust acquires, selectively develops, owns and manages health care properties that are leased to physicians, hospitals, and health care delivery systems. The consolidated portfolio, as of December 31, 2022 consists of 290 properties located in 36 states.

Assurance Boundary The boundary of assurance includes one hundred and thirty four (134) properties in which Physicians Realty Trust has financial control and utility information available.

GHG Emissions Consolidation Approach

The GHG emissions boundary followed the operational control methodology specified in the GHG Protocol.

Limitations and Exclusions

ISOS Group, Inc. | 1000 Elm Street, 17F, Manchester, NH, 03105 | www.isosgroup.com

Greenhouse gas quantification is unavoidably subject to inherent uncertainty because of both scientific and estimation uncertainty and for other non-financial performance information the precision of different measurement techniques may also vary. Furthermore, the nature and methods used to determine such information, as well as the measurement criteria and the precision thereof, may change over time.

Several smaller scope 1 GHG emission sources (i.e., refrigerant releases, mobile combustion sources, emergency generators) have been excluded from this review. Reviews pertaining to the completeness and capture of all utility meters at properties, particularly those attributed to tenant spaces, is limited to what is disclosed in data management systems. No visit to the Client’s headquarters or facilities was conducted throughout this engagement. However, a sample set of properties were reviewed in more granularity and tested for data accuracy. It was determined that these limitations and exclusions do not materially impact the performance criteria or assurance engagement.

Methodology

The assurance procedures undertaken were to determine the strength of the systems in place. ISOS Group:

 Engaged a sample of individuals responsible for performance measurement,

 Evaluated current management systems for performance data collection, compilation, calculation, reporting, and validation,

 Determined consistency of assessing materiality, management approach, and application of quality control procedures,

 Reviewed sustainability disclosures, supporting data, and justification for rectifying discrepancies,

 Validated alignment to standard reporting protocols to ensure accurate claims to the quantitative methodology and approach and assurance claims,

 To verify quantitative claims, both at the aggregate level and on a sample basis, and test accuracy, consistency, completeness, and reliability, ISOS Group:

1. Conducted a portfolio assessment analyzing performance results to uncover any errors, misstatements, gaps, or performance anomalies,

2. Brought all findings to the Client’s attention to address and confirmed resolution,

3. Selected the following properties for testing and analysis, including cross-reference to primary source data to uncover variances and address any exclusions and other limitations:

a. Baylor Charles A. Sammons Cancer Center, Dallas, TX

b. Calkins 300, Rochester, NY

c. Lakeside Two Professional Center, Omaha, NE

d. Minnetonka, MN

Findings

Based on the process and procedures conducted, there is no evidence that the metrics reported by the Client are not materially correct and provide a fair representation of the Client’s environmental impacts to stakeholders for the stated period and reporting boundary.

Restriction of use

This assurance report is made solely to the Client in accordance with the terms of our engagement, which include agreed arrangements for disclosure. Our work has been undertaken so that we might state to the Client those matters we have been engaged to state in this moderate assurance report and for no other purpose. Our moderate assurance report should not be regarded as suitable to be used or relied on by any party wishing to acquire rights against us other than the Client for any purpose or in any context. Any party other than the Client who obtains access to our moderate assurance report or a copy thereof and chooses to rely on our moderate assurance report (or any part thereof) will do so at its own risk. To the fullest extent permitted by law, we accept or assume no responsibility and deny any liability to any party other than the Client for our work, for this independent moderate assurance report, or for the conclusions we have reached.

Statement of Competency and Independence

Application of the AA1000AP

Findings and conclusions concerning adherence to the AA1000 AccountAbility Principles: Inclusivity DOC focuses on stakeholder engagement with team members, health care partners, their corporate audience, and the greater community within their asset markets. DOC includes a stakeholder map outlining engagement tactics and themes in its annual ESG report.

Materiality Formal materiality assessments have been conducted annually since 2021, and details shared, in DOC’s annual ESG Report. The most recent materiality assessment was conducted in 2023. The ESG Report highlights the top and bottom six topics prioritized, confirms performance indicators, prioritizes resources, and determines reporting contents.

Responsiveness DOC publishes an annual ESG report which is accessible on their website, includes ESGrelated information in its annual report and develops an annual submission to the GRESB Real Estate Assessment.

Impact DOC outlines performance measurement and goals within its annual ESG Report. In 2022, new environmental goals were established and reported, including a 40% overall GHG reduction by 2030 (10% decrease by 2024), a 10% decrease in energy usage by 2024 and a 5% decrease in water usage by 2024. In 2022, DOC verified their GHG emissions targets by SBTi.

Observations and Recommendations

Observations and recommendations include:

 Consider developing a process document outlining the flow and review of data collection methods; this could be integrated into the existing Energy Management System or remain a standalone document.

 DOC’s current reporting captures scope 1 and scope 2 emissions from landlord-controlled common areas throughout its portfolio. Consider disclosing scope 3 emissions from tenant-controlled areas in its annual ESG reporting.

ISOS Group is an independent professional services firm that specializes in sustainability reporting under the Global Resources Initiative (GRI), CDP, and GRESB and is a provider of external assurance services. ISOS Group is a Global Reporting Initiative Certified Training Partner for the United States and a CDP Silver Education and Training Partner in the United States. Our team of experts have the technical expertise and competency to conduct assurance to the AA1000 assurance standard, which meets the criteria for assurance of environmental data.

No member of the assurance team has a business relationship with the Client, its Directors, or Managers beyond that required of this assignment. We conducted this assurance independently and, to our knowledge, there has been no conflict of interest. ISOS Group has a strong code of ethics and maintains high ethical standards among its staff in their day-to-day business activities. The assurance team has extensive experience in conducting assurance engagements over environmental, social, ethical, and health and safety information systems and processes.

Further information, including a statement of competencies, can be found at www.isosgroup.com

Signed on behalf of ISOS Group : San Diego, California – USA, May 16, 2023.

Brian Noveck CSAP Practitioner

Lauren Anderson Sustainability Analyst

FORWARD-LOOKING STATEMENTS & OTHER DISCLAIMERS

All information, data, opinions, and activities contained in this report are subject to change without notice. The content of this report was developed based on feedback from our internal and external stakeholders. The metrics and quantitative data contained in this report are not based on generally accepted accounting principles and have not been audited. Such data and metrics are subject to measurement uncertainties resulting from limitations inherent in the nature and the methods used for determining such data. The selection of different but acceptable measurement techniques can result in materially different measurements. The precision of different measurement techniques may also vary. Neither Physicians Realty Trust nor any of its affiliates assume any responsibility or obligation to update or revise any such information, data, opinions or activities, without regard to whether any of these are affected by new information, future events or otherwise. This report does not, and is not intended to, create any relationship, rights or obligations, legal or otherwise, and you should not rely upon this report to do so.

The inclusion of information and data in this report is not an indication that such information or data or the subject matter of such information or data is material to Physicians Realty Trust for purposes of applicable securities laws or otherwise. The principles used to determine whether to include information or data in this report do not correspond to the principles of materiality contained in federal securities laws, the concept of materiality used to determine whether disclosures are required to be made in filings with the U.S. Securities and Exchange Commission or otherwise disclosed, or principles applicable to the inclusion of information in financial statements.

Our goals regarding our ESG initiatives are aspirations. They are not guarantees or promises that we will meet all or any of our goals. Any statistics and metrics regarding our corporate responsibility and ESG activities are estimates and may be based on assumptions or developing standards. No part of this report constitutes, or shall be taken to constitute, an offer to sell or the solicitation of an offer to buy any securities of Physicians Realty Trust or any other entity. This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, tax considerations, or financial situation or needs of any investor. This report and the information contained in this report are not incorporated by reference into any filing of Physicians Realty Trust with the Securities and Exchange Commission. This report contains forward-looking statements made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts may be forwardlooking statements within the meaning of the federal securities laws. In particular, statements pertaining to our ESG goals, capital resources, property performance, and results of operations contain forward-looking statements. Likewise, all of our statements regarding anticipated growth in our funds from operations and anticipated market conditions, demographics, and results of operations are forward-looking statements. You can identify forward-looking statements by the use of forward-looking terminology such as “believe,” “expect,” “outlook,” “continue,” “project,” “may,” “will,” “should,” “seek,” “approximately,” “intend,” “plan,” “pro forma,” “estimate,” or “anticipate” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. You can also identify forward-looking statements by discussions of strategy, plans, expectations, or intentions. These forward-looking statements reflect the views of our management regarding current expectations and projections about future events and are based on currently available information. These forward-looking statements are not guarantees of future performance and involve numerous risks and uncertainties, and you should not rely on them as predictions of future events. Forward-looking statements depend on assumptions, data, or methods which may be incorrect or imprecise, and we may not be able to realize them. We do not guarantee that the transactions and events described will happen as described (or that they will happen at all). The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: general economic conditions, including inflation and recession; adverse economic or real estate developments, either nationally or in the markets where our properties are located;our failure to generate sufficient cash flows to service our indebtedness or to pay down or refinance our indebtedness; fluctuations in interest rates and increased operating costs; the availability, terms and issuance of debt and equity capital, including our unsecured revolving credit facility; our ability to make distributions on our common shares; general volatility of the market price of our common shares; our increased vulnerability economically due to the concentration of our investments in healthcare properties; our geographic concentration in Texas may cause us to be particularly exposed to downturns in the Texas economy or other changes in Texas market conditions; changes in our business or strategy; our dependence upon key personnel whose continued service is not guaranteed; our ability to identify, hire, and retain highly qualified personnel in the future; the degree and nature of our competition; changes in governmental regulations or interpretations thereof, such as real estate and zoning laws and increases in real property tax rates, taxation of REITs, and similar matters; defaults on or non-renewal of leases by tenants; decreased rental rates or increased vacancy rates; difficulties in identifying health care properties to acquire and completing acquisitions; competition for investment opportunities; any adverse effects to the business, financial position or results of operations of CommonSpirit Health, or one or more of the CommonSpirit Health-affiliated tenants, that impact the ability of CommonSpirit Health-affiliated tenants to pay us rent; the impact of our investments in joint ventures we have made and may make in the future; the financial condition and liquidity of, or disputes with, any joint venture and development partners with whom we may make co-investments in the future; the impact of our investments in development projects; the disruption of our business and the compromise of confidential information resulting from cybersecurity attacks, breaches and other incidents; our ability to operate as a public company; the potential impact of severe weather events and climate change; changes in health care laws or government reimbursement rates; changes in accounting principles generally accepted in the United States; lack of or insufficient amounts of insurance; other factors affecting the real estate industry generally; our failure to maintain our qualification as a REIT for U.S. federal income tax purposes; limitations imposed on our business and our ability to satisfy complex rules in order for us to qualify as a REIT for U.S. federal income tax purposes; the accuracy of our methodologies and estimates regarding ESG metrics, goals, and targets, tenant willingness and ability to collaborate towards reporting ESG metrics and meeting ESG goals and targets, and the impact of governmental regulation on our ESG efforts; and other factors that may materially adversely affect us, or the per share trading price of our common shares, including the number of our common shares available for future issuance or sale; our issuance of equity securities or the perception that such issuance might occur; future debt; failure of securities analysts to publish research or reports about us or our industry; and securities analysts’ downgrade of our common shares or the health care-related real estate sector.

While forward-looking statements reflect our good faith beliefs, they are not guarantees of future performance. We disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events, or other changes after the date of this report, except as required by applicable law. You should not place undue reliance on any forward-looking statements that are based on information currently available to us or the third parties making the forward-looking statements. For a further discussion of these and other factors that could impact our future results, performance or transactions, see Part I, Item 1A (Risk Factors) of our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the Securities and Exchange Commission on February 24, 2023, and other reports we file with the SEC.

ENDNOTES

PAGE 20: RESULTS TO DATE

(1) The reportable metrics for our identified portfolio include Scope 1 emissions, defined as direct emissions from building energy use, and Scope 2 emissions, expressed as indirect emissions from purchased electricity, steam, heating, and cooling.

(2) DOC’s energy and emissions reduction strategies are primarily driven by capital upgrades, such as LED retrofits and building automation system (BAS) optimizations. We supplement these efforts with behavioral improvements through our low/no-cost initiative and environmental management policies implemented in 2021.

(3) Our 2022 water performance represents the continuation and normalization of business activities resulting from the impact of the COVID-19 pandemic.

(4) DOC’s water reduction strategies include water management policies, low-flow fixtures, irrigation controls, and tenant education.

(5) The data indicates the percentage of waste diverted from a landfill or incineration facility.

PAGE 27: CERTIFICATIONS

(6) In the graph, the total portfolio SF percentage represented in gold for each year is displayed less duplicate certifications. In the graph represented as bars, each year’s SF total includes properties with designations across one or more certification platforms.

PAGE 59: ENERGY AND EMISSIONS DATA

(7) The charts reflect the performance of 8.09 million square feet, which is approximately 52% of our portfolio and approximately 56% of our actively managed portfolio. Direct energy consumption includes on-site combustion from fossil fuels. Indirect energy consumption includes district cooling and electricity purchased from utility providers.

(8) Parameters include properties owned as of January 1, 2022, were within our operational and financial control, and had readily accessible data to create a like-for-like comparison.

(9) The underlying data that comprises these tables has been assured by ISOS Group. Our assurance statement can be found on pages 72-73

PAGE 69: SASB REPORT

(10) The energy chart reflects the performance of 8.09 million square feet, which is approximately 52% of our total portfolio and approximately 56% of our actively managed portfolio. The energy scope includes energy produced from fuel, gas, district cooling, and electricity. The water chart reflects the performance of 6.99 million square feet, which is approximately 45% of our portfolio. The water scope includes irrigation and domestic water. Data coverage for water differs from the coverage for energy as water is not under operational control in every reporting group location.

(11) The data provided in the charts have been updated from the data presented in our Annual Report on Form 10-K for the fiscal year ending December 31, 2022. This update reflects the expansion of our reporting scope and baseline recalculations aligned with GHG protocols.

(12) Regarding the baseline water stress metrics, the data is from Measurabl’s Climate Risk Module Powered by Moody’s ESG Solutions. The percentage is based on properties with a “High” or “Red Flag” risk classification.

GRI 102-48, 102-49