RISK MANAGEMENT & MITIGATION

Risk management and risk mitigation are essential elements of a robust ESG approach. Today, our Company is taking steps to move beyond simply managing risks. In our evolving practice, we scan the landscape more broadly for opportunities for intentional risk mitigation to help ensure a more sustainable future for all of us.

Our process for identifying and assessing climate-related risks begins with gathering information on several attributes of Macerich facilities:

• Operational characteristics: Construction type, facility types and square footage

• Energy consumption and generation: Electricity, refrigerants and solar and REC generation

• Waste management: Landfill and recycling

• Water usage and disposal: Fresh and treated water

• Geographic characteristics: Topography and weather patterns

Risk Management Oversight

Our process for identifying, assessing and managing climate-related risks is integrated into Macerich’s overall risk management approach, with guidance from our Executive Leadership Team and execution at the department level. With ultimate responsibility for climate-related issues residing at the Board level, engagement by the Board and executive leadership drives the overall risk management effort.

Stakeholder engagement surveys and discussions inform our approach, along with our climate scenario analysis. Our procedures for managing these risks typically engage regional leaders and are spearheaded by responsible internal stakeholders in Operations, Sustainability, Risk Management, Environmental, Finance and Legal.