Dear Stakeholders,

At MIT, sustainability remains a core element of our long-term strategy and operational approach. As a responsible asset manager, we recognise the built environment’s impact on climate outcomes and remain committed to reducing our environmental footprint while contributing to resilient and sustainable communities.

The Board provides oversight of sustainability related risks and opportunities and integrates these considerations into MIT’s strategic planning and decision-making. Our governance framework, supported by committees and cross-functional teams, enables effective execution of our sustainability agenda and ensures alignment with the broader principles and practices of our Sponsor, Mapletree Investments Pte Ltd (the “Mapletree Group”).

Progress Towards Net Zero

Financial Year 2025/2026 (“FY25/26”) marked the completion of the Mapletree Group’s Net Zero study, a significant milestone that established interim emissions reduction targets in support of our net zero by 2050 goal. The Mapletree Group has set an interim target to reduce its Scope 1 and 2 operational carbon intensity by 80% by 2035 and aspires to achieve the same level of reduction for Scope 3 greenhouse gas emission intensity. These targets have been cascaded to various business units, and we are concurrently reviewing interim targets for MIT and assessing initiatives focused on energy efficiency and renewable energy procurement. To ensure accountability, the Mapletree Group has updated the policies to provide clear direction and alignment across all business units. Collectively, these measures reinforce our governance framework and strengthen our ability to deliver on our long-term climate commitments.

Sustainable and Low-Carbon Asset Development

We continued to enhance the sustainability performance of MIT’s portfolio through recognised industry benchmarks and targeted low-carbon initiatives. MIT’s US data centre portfolio received the Green Lease Leaders Award (Silver Recognition) for incorporating green leasing principles such as provisions for energy-efficient technologies and collaborative sustainability practices into lease agreements. In Japan, the Osaka Data Centre achieved an A rating under the CASBEE New Construction certification, which reflected its advanced seismic protection, energy-efficient systems and use of environmentally responsible materials.

During the financial year, MIT also expanded low-carbon mobility infrastructure by installing electric vehicle charging points across five property clusters in Singapore, which accounted for 16% of MIT’s Singapore properties with operational control (by gross floor area). This positions MIT to deliver on its long-term target of equipping 30% of MIT’s Singapore properties with electric vehicle charging infrastructure by FY29/30. These initiatives support MIT’s broader carbon reduction efforts and promote sustainable transportation choices across its portfolio.

Proactive Engagement with Tenants and Employees

Our people and tenants play a central role in advancing MIT’s sustainability ambitions. We remain committed to creating a workplace where employees feel supported and engaged, and to fostering an environment in which tenants and communities can thrive.

In FY25/26, the Mapletree Group supplemented the triennial Employee Engagement Survey with an interim Employee Engagement Pulse Survey to obtain timely insights on engagement and to measure the effectiveness of action plans implemented following the Employee Engagement Survey. The Employee Engagement Pulse Survey achieved a 100% response rate, with improvement in the “Engagement” pillar. While “Operating Efficiency” pillar remained stable, new actions plans will be developed to enhance operational processes in the United States. In parallel, the Mapletree Group reinforced its policy framework through the adoption of sustainability-focused policies, including environmental management.

MIT also deepened tenant engagement through capability-building events on business resilience, carbon reporting, AI-enabled brand growth, and future workforce readiness. These initiatives supported tenants in navigating evolving market conditions while encouraging more sustainable and future-ready business practices. At the same time, MIT supported local communities through employee-led volunteering, environmental stewardship, and health and wellness programmes delivered jointly with community partners and tenants.

Looking ahead, the Board remains focused on strengthening MIT’s resilience, advancing its net zero ambitions, and embedding sustainability considerations into decision-making across the business. As expectations, standards and operating environments evolve, we will continue to enhance capabilities, refine our approach, and work closely with our stakeholders to deliver sustainable, long-term value.

Board of Mapletree Industrial Trust Management Ltd.