GREEN LEASING

Tenant activities represent more than 60% of energy use at most properties. They significantly contribute to other aspects of the carbon footprint, from waste management to water usage to embodied carbon due to build-out and remodeling. Addressing these issues and reducing our environmental footprint requires a solid Company-tenant partnership.

At Macerich, we view green leasing as both an environmental and a social commitment, with smart, energy-aligned clauses unlocking investments in energy efficiency and sustainability that benefit our tenants, our shared customers and the communities where we operate. In 2023, Macerich plans to implement provisions of green leasing in accordance with the Institute for Market Transformation (IMT) and the U.S. Department of Energy's (DoE) Green Lease Leaders program, which may include:

• Submetering requirements

• Building standards

• Water, waste and HVAC efficiencies

• Data sharing

• Investments and incentives

• Renewable power options

• Reporting and disclosure responsibilities