Purpose.Progress. Results.

SUSTAINABILITY SNAPSHOT2016

IMPLEMENTING STRATEGY FOR LONG-TERM SUCCESSCreating and delivering value now, and for years to come

Our core values of Teamwork, Results, Integrity and Own It, are foundational to our success, inspiring to employees, embedded in our culture, and relevant to clients and tenants. In 2016 we initiated a company strategy review that was completed in early 2017 – we have a clear plan to execute growth. 2016 highlights include:

In last year’s Sustainability Report we identified 70 environmental, social and governance (ESG)-related actions to drive progress. We are pleased to report substantial progress on most fronts:

` 72% (50) of actions are complete or on track

` 21% (15) require more work

` 7% (5) are incomplete or behind schedule

Our team efforts and a clear strategy are driving results. In our second annual response to the Global Real Estate Sustainability Benchmark (GRESB) Real Estate Assessment, we earned four green stars, falling just short of our targeted full five-star rating. Our score improved by more than 10% over 2015, and we ranked third out of 18 in our global peer group.

Triovest’s Environmental and Sustainability Application (TESA) won jointly, with Refined Risk, the BOMA Toronto and BOMA Canada Pinnacle Award for Innovation. Our inaugural 2014 Sustainability Report was nominated as a global finalist in the Best First-Time Report category of the 2017 Corporate Register Reporting Awards. More than a dozen of our properties were recognized with coveted third-party awards and recognition for outstanding performance in property management.

Operational green building certifications continued to grow, increasing from 47% of total square feet under management at the end of 2015, to 60% at the end of 2016. Our pursuit of green building certifications stems from their realized benefits. In addition to providing third-party performance validation, they also increase: leasability, occupancy, renewal rates, tenant satisfaction, occupant health and productivity, and environmental performance. ATB Place and ATCO Centre in Edmonton both achieved LEED® Gold in the Existing Buildings: Operations & Maintenance standard, and ATCO Centre achieved an impressive ENERGY STAR® score of 99.

At the portfolio level, we:

` Achieved a 12% reduction in energy consumption and 8% reduction in water consumption versus our 2014 baseline, on a like-for-like-basis

` Increased our waste diversion rate to 53%, diverting over 6,500 tonnes of material from landfills

We hire people whose values align with ours, and we provide our team with the coaching, skills development and training necessary to deliver exceptional service to our clients. We provide up to $1,500 per employee per year for the development of new skills and training. Investing in our team improves engagement, motivation and teamwork, and it increases retention. It is our people who will execute on our bold new mission and vision, and who will build on Triovest’s reputation as a recognized market leader.

In 2016 the broad capabilities and expertise of our development teams led to a doubling of our development pipeline, including Triovest’s involvement in a number of high-profile, mixed-use sustainable projects across

the country. We acquired Mackenzie Goulais Inc., one of Canada’s leading providers of leasing, investment consulting and asset management services, to strengthen the range of services and expertise we offer clients. We also unified under the Triovest brand Triovest Realty Advisors Inc., and sister company, Balboa Investments Inc. These changes created an aligned strategy and management team, strengthened Triovest’s ability to compete for institutional-grade real estate, and created new investment and co-investment opportunities for our clients and investors. We also partnered with the MaRS Discovery District to deepen our understanding of innovation, and grew external relationships to connect with new or better ways of doing valued things.

` Our inaugural third-party administered employee engagement survey had an 83% participation rate, and our results were top-quartile for an organization of our size

` To ensure a depth of talent and leadership pipeline, we completed 40 succession plans in 2016 and expanded succession plans to include all roles at Senior Director and higher

` We refined our real estate value-enhancement strategies and tactics, and included sustainability as a key component in our decisions

` We also considered new frameworks, such as the Sustainable Development Goals, to identify possible risks and opportunities not previously considered, and to align with global priorities

Sustainability is reflected clearly in Triovest’s new, bold mission: We create sustainable places that enhance communities and enrich relationships. We are making strides to deliver on an ambitious agenda as outlined in the three areas below:

STRONG FOUNDATIONS ARE DRIVING RESULTSWe are on track for industry leadership

OPERATIONAL GREEN BUILDING CERTIFICATES, BY CERTIFICATION TYPE AND LEVEL (% TOTAL SF)

OPERATIONAL GREEN BUILDING CERTIFICATES (% TOTAL SF)

1 Energy, greenhouse gas emissions, water and waste figures reflect performance in areas and for periods in which Triovest has data.

STAGE IS SET TO ACCELERATE GROWTHOur people will make the difference

HIGHLY ENGAGED TEAM

80% of Triovest employees say,

“I am proud to tell others I work here.”

WATER CONSUMPTION1

1.8 billion litresEquivalent to

720 Olympic swimming pools

Since 2014, on a like-for-like basis, total annual water consumption decreased by

107 million litres (7.6%), which is equivalent to filling 43 Olympic swimming pools

GREENHOUSE GAS EMISSIONS1

104,000 tCO2e direct (scope 1) and indirect (scope 2)

Since 2014, on a like-for-like basis, total annual scope 1 and 2 emissions decreased by

15,400 tCO2e (19%), which is equivalent to the amount of carbon 14,500 acres of

forest can sequester in one year

WASTE GENERATED & DISPOSED1

12,400 tonnes generated

Equivalent to 880 full garbage trucks

53% overall diversion rate from landfill, excluding energy recovery

ENERGY COMSUMPTION1

578 million ekWhEquivalent to approximately

43,000 homes

Since 2014, on a like-for-like basis, total annual energy consumption decreased

by 60M kWh (12%), which is equivalent to powering approximately 4,450 homes

for one year

GREEN-CERTIFIED BUILDINGS

60% of total sf

Increased percent of total sf with green building certification from 47%

in 2015 to 60% in 2016

70% of assets, by gross asset value, hold one or more green building certifications

Triovest is a fully integrated commercial real estate advisory and capital firm. At the end of 2016, our 500 employees oversaw $8 billion of real estate and a $4 billion development pipeline on behalf of our investors and clients.

Triovest is committed to reporting in a public, transparent manner. Doing so motivates continuous improvement, shows authenticity, and promotes engagement with our investors, clients, tenants, colleagues, shareholders and communities. We aim to share openly our successes, challenges, and results, not only to inspire our team, but also to motivate continued industry action.

Learn MoreTriovest has engaged and dedicated employees who are committed to making a positive and lasting difference in our industry, and who deliver property-level results that create value.

Our 2016 Sustainability Report was prepared in accordance with the Global Reporting Initiative (GRI) Standards: Core Option. It shows how Triovest, through our determined approach to sustainability, continues to create short and long-term value and deliver strong results.

We thank you for your interest and partnership as we work to create sustainable places that enhance communities and enrich relationships.

For further information, please visit triovest.com, and review our 2016 Sustainability Report.

SUSTAINABILITY SNAPSHOT 2016 EN (V8)

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