AP.UN Allied Properties Real Estate Investment Trust

Allied Properties Real Estate Investment Trust (“Allied”) (TSX:AP.UN) today announced that it has published its 2023 Environmental, Social and Governance (ESG) Report. Allied’s 2023 environmental performance improved from 2022 and continued to exceed its 2024 reduction targets for Energy Use Intensity (EUI), Greenhouse Gas Intensity (GHGI) and Water Use Intensity (WUI). To advance operational performance and achieve its 2028 certification target, Allied increased the percentage of its portfolio certified to LEED and/or BOMA BEST from 27% in 2022 to 41% in 2023.

In 2023, Allied improved its User Experience Assessment scores in all rating areas and increased its Net Promoter Score by 47% from 2022. Allied advanced its commitment to Equity, Diversity and Inclusion (EDI) by completing its inaugural EDI Roadmap. Feedback from Allied’s User Experience Assessment indicated that 91% of building users are satisfied with its commitment to EDI. Allied was also recognized as a Canadian “Best Employer” in 2023.

Allied’s 2023 ESG Report is aligned with (i) the Global Reporting Initiative (GRI) 2021 Universal Standards, (ii) the Sustainability Accounting Standards Board (SASB) Real Estate Standard, (iii) the Task Force on Climate-related Financial Disclosures (TCFD) recommendations and (iv) the United Nations Sustainable Development Goals. Allied’s Board and Management are committed to making its inherent approach to ESG more manifest, deliberate and measurable. They have always believed that submitting to informed scrutiny will make Allied a better business, and formally submitting to ESG scrutiny is no exception in this regard. Read Allied’s 2023 ESG Report at www.alliedreit.com.

ABOUT ALLIED

Allied is a leading owner-operator of distinctive urban workspace in Canada’s major cities. Allied’s mission is to provide knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied’s vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Cecilia WilliamsPresident & Chief Executive Officer(416) 977-9002cwilliams@alliedreit.com

Nanthini MahalingamSenior Vice President & Chief Financial Officer(416) 977-9002nmahalingam@alliedreit.com