GRESB Infrastructure January, 2019

Sustainability Benchmarking for Real Assets INVESTORS GRESB ASSESSMENT MANAGERS INVESTOR PERSPECTIVE ESG ANALYTICS ESG PERFORMANCE DATA

GRESB Infrastructure Members Investor Members Fund Manager, Asset Operator and Company Members

GRESB: The ESG Benchmark for Real Assets VISION Sustainable Real Assets GRESB assesses and benchmarks the ESG performance of real assets, providing standardized and validated data to capital markets MISSION STRATEGY PILLARS ASSESSMENTS Working in collaboration with the industry, we define the benchmark for sustainability performance in real assets TECHNOLOGY Our technology platform applies best practices in data science to validate, score and benchmark ESG performance data STAKEHOLDERS We convene a global community of organizations working together to achieve a shared vision of sustainable real assets

GRESB Competencies Validation Objective Scoring Peer Benchmarking

GRESB Infrastructure – Global Coverage – 2018

Infrastructure - Fund and Asset Assessments Funds with ≥25% asset participation FUND SCORE GRESB ASSET SCORE 30% 70% GRESB FUND SCORE FUND ASSESSMENT ASSET ASSESSMENT

GRESB Infrastructure Development – Assets Total Assets (+75%) $500bn+ GAV No OF PARTICIPANTS

2018 - Sector Scores

Performance Indicators Asset Level Indicators Performance Indicators

Materiality Approach MA2 PD RO ME PI T Performance Indicators Materiality Assessment PD RO ME PI T Policy & Disclosure: Environmental Policies Risk & Opportunities: Risk Assessment Monitoring and EMS: Performance Monitoring Performance Indicators ESG issues Materiality Energy Medium Water Low Air pollutants No Health & Safety: Employees High Gender & Diversity Bribery & Corruption Etc. Based on the result of materiality assessment, scoring is adjusted Based on the result of materiality assessment, required Performance Indicators are adjusted Based on the result of materiality assessment, scoring is adjusted Based on the result of materiality assessment, scoring is adjusted Presenter’s note: This will only impact sector-specific scoring and does not relate to asset size, location, structure of entity or different project phases.

IMPLEMENTATION & MEASUREMENT Aggregated GRESB Scores History 48 GRESB SCORE 2018 Average IMPLEMENTATION & MEASUREMENT MANAGEMENT & POLICY 46 2018 Average 49 MANAGEMENT & POLICY 2018 Average IMPLEMENTATION & MEASUREMENT

Outputs Scorecard Benchmark Report Portfolio Analysis Data Downloader Participant information tools Scorecard Free to all participants Comparative Intelligence Benchmark Report GRESB Member benefit [available ala carte] Management Introspection Portfolio Analysis Data Downloader GRESB Members only Advanced Analytics

Scorecard and Benchmark Reports

GRESB Infrastructure 2019 GRESB Infrastructure process & timeline

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