Greystar Sustainability Report 2024

GOVERNANCE UPDATES

OVERSIGHT

PROGRAM UPDATES

Greystar has a multi-tiered governance and oversight approach to sustainability.

Global Investment Committee: Oversees the firm’s investment decisions and considers material sustainability factors identified during due diligence and underwriting to the extent they are included in investment committee memoranda. ESG Advisory Group: Advises the firm on sustainability matters, develops sustainability strategy recommendations for Greystar’s executive management and monitors the external environment for risks and opportunities, including regulatory, market, and technology trends. The group is a cross functional committee of ~25 business and functional leaders including the Executive Committee, Investor Relations, Legal, Finance, Portfolio, Asset, and Property Management, and Human Resources. This collaborative group meets quarterly and provides input and guidance throughout Greystar's global operations. Sustainability Team: Sets and executes corporate and fund-level strategy, aligning sustainability goals to our overarching business objectives. In collaboration with Greystar’s ESG Advisory Group and other firm leaders, the sustainability team supports our portfolio management teams with fund-level initiatives, leads voluntary and mandatory reporting and is responsible for monitoring asset sustainability performance. Core areas of focus include deepening sustainability integration in investments, supporting improvements in asset sustainability performance, and fulfilling reporting requirements for investors and other stakeholders. The team works to establish processes and foster team member knowledge to embed sustainability considerations throughout our investment lifecycle. In addition, the team identifies solutions to improve monitoring of key metrics – from energy consumption and carbon emissions to water usage and waste management. Working closely with operations, asset management, and portfolio management teams, they continuously drive improvements in our sustainability program while creating lasting value for investors, stakeholders, and communities.

ESG Policy Update: In 2024, Greystar completed a strategic review of our ESG policy, reflecting our commitment to continued transparency around our approach to sustainable and responsible investing. The enhanced policy is aligned with industry best practices and captures principles already integrated in practice that had not been previously documented in our policy. We expanded the policy scope to explain how we aim to capture sustainability opportunities for non-discretionary investment vehicles, while accounting for limitations based on the degree of control and influence we have in a particular investment. We also provide more detail on integration practices during the hold period, including how we design impactful sustainability advancements, allot the necessary capital to achieve such goals, and escalate any challenges appropriately. ESG Checklist & Investment Committee Review: Starting in 2024, the investment teams—in coordination with the sustainability team—began completing ESG investment checklists for each investment. Thorough due diligence—including critical assessments like Phase 1 environmental studies—has always been integrated into our investment review process, and our ESG checklist standardizes how this information is captured and presented. The checklist is designed to highlight financially material sustainability factors that can directly impact investment value and risk management. The ESG checklist accompanies the submission of an investment to Global Investment Committee for approval of that investment. This ensures that the sustainability risks for each investment are considered as part of the overall risks. 1

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INDUSTRY MEMBERSHIPS

ESG Integration practices across oversight, integration, policies and standards and reporting are subject to change in Greystar’s discretion. It should not be expected that Greystar will always implement similar practices or that comparable results will consistently be obtained. 1 While it is the case that decisions with respect to the acquisition, retention, improvement and maintenance of assets will include consideration of one or more ESG factors as noted above, all such decisions also take into account other, non ESG factors, and ESG factors are generally no more significant than other factors in the decision making process, such that ESG factors may not be determinative in a decision to acquire, retain, improve or maintain any particular asset.