SUSTAINABILITY

PRIME has established a robust sustainability governance framework to ensure accountability and drive progress toward our ESG goals. The Board of Directors (the "Board") holds ultimate responsibility for overseeing PRIME's sustainability strategy, including the management and monitoring of our material ESG topics. Embedding sustainability considerations at the highest level of decision-making ensures that these priorities are meaningfully integrated into both strategic direction and day-to-day operational practices across our value chain. The Board provides strategic guidance and exercises comprehensive oversight of Management's execution of the sustainability strategy and its management of material topics. Management provides regular sustainability updates, which are tabled at quarterly Board meetings to support informed decision-making and continuous improvement.

The Audit and Risk Committee ("ARC") supports the Board in overseeing sustainability-related risks through the Enterprise Risk Management ("ERM") framework, which embeds key ESG considerations into the Company's risk register and overall risk assessment processes. As part of its terms of reference, the ARC reviews Management's ERM updates and the risk register at each quarterly meeting, ensuring that material sustainability-related risks are systematically identified, assessed for potential impact, and addressed through appropriate mitigation strategies. This oversight enables PRIME to maintain a forward-looking approach to risk management and enhances the resilience of our business in a dynamic operating environment.

A Management-level working group, comprising employees from the Manager ("Management") and LPC's central ESG team, oversees ESG matters across PRIME's portfolio. Guided by PRIME's sustainability strategy, Management embeds ESG priorities into business operations by developing implementation plans, coordinating initiatives, and monitoring performance against defined targets.

LPC's central ESG team complements these efforts by coordinating key ESG issues across the U.S. portfolio and providing specialised expertise to support the execution and evaluation of sustainability initiatives at the property level. Both teams draw on PRIME's Sustainability Risk Framework, an integral part of the Enterprise Risk Management ("ERM") framework, to assess and manage sustainability-related risks and opportunities.

At the operational level, property managers support the implementation of ESG policies and practices, ensuring consistent execution of sustainability initiatives across PRIME's assets.

We believe that meaningful engagement with our stakeholders is essential to refining our sustainability approach and ensuring our efforts create genuine, shared value. Through regular surveys, meetings, and engagement activities, we gather insights from our diverse stakeholder groups, enabling us to better understand their expectations and priorities.

While we prioritise the perspectives of all stakeholders, the needs and well-being of our tenants hold particular importance, as they directly shape the quality and performance of our assets. Their feedback helps guide our initiatives to enhance building experience, operational efficiency, and long-term asset resilience.

These ongoing engagement channels strengthen our ability to respond proactively, improve our practices, and deliver positive outcomes across our portfolio. We remain committed to maintaining open communication and cultivating long-term relationships with all stakeholders, deepening our understanding of how PRIME can continue to create value for each group.

PRIME continued to maintain structured engagement with tenants. During the year, we conducted the annual Kingsley survey to collect structured feedback, and our asset and property management teams worked directly with tenants to address their needs, rolling out new initiatives where appropriate.

Materiality assessments have helped PRIME to better understand the ESG topics that most significantly influence our business and long-term value creation prospects. By assessing impacts on the economy, environment, and people, the process clarifies which issues matter most to PRIME and our stakeholders.