Picton Property Income Limited Sustainability Report 2022

Appendix

Introduction

Environmental Focus

Stakeholder Engagement

Governance

EPRA Commentary

Organisational boundaries/coverage

Normalisation We have used kWh/m 2 /year to normalise data where applicable and use net lettable area across our sites. We believe that using floor area is the most consistent metric for our portfolio and allows for accurate like-for-like comparisons. This is the most consistent normalisation metric across the whole portfolio. Meters have been assigned to specific spaces within a building, such as whole site, common area, external or a specific floor or unit. This has allowed for a more accurate intensity metric to be calculated. This methodology has been applied to both 2020 and 2021 reporting years, so that an accurate like for like comparison can be made between asset types. If a meter has been assigned to an external space, this consumption has been excluded from any intensity calculations. Normalisation metrics have been clearly stated in tables throughout the Report. For the like-for-like analysis, we removed any acquired or disposed sites which do not cover the full 2020 and 2021 reporting periods and any sites that underwent a major refurbishment to ensure reliable comparisons. We currently have been unable to remove vacant units from our like-for-like comparisons but note that this will have a minimal impact on comparisons. It is estimated that less than 5% of our consumption is through vacant units.

Reporting period This year’s Report covers the year from 1 January 2021 to 31 December 2021. We have switched our reporting year from Financial to Calendar year to allow a greater time to focus on occupier data collection. The exceptions to this are Health and Safety assessments, EPC and green lease data, which follow the financial year. A table showing the last five years of consumption is included to show how different metrics have been added year-on-year.

There was a total of 47 properties within the portfolio during 2021. We report on 100% of our buildings wherever possible and provide data by property type. We had operational control at 32 of these sites, these figures include sites where there were void units or external supplies, as for at least a portion of the year we had operational control of those units. We have also included in our building coverage where we have obtained occupier data. It is believed that it is crucial to obtain a holistic view of a property’s entire energy consumption, so we therefore believe building coverage should include all sites where we have obtained data. The total possible number of buildings where we could obtain data remains a constant (47 properties) apart from on like-for-like data where we have excluded sites that do not have two full reporting years’ worth of data. Each table throughout the Report identifies how many properties are being reported on. During 2021 we acquired one site and disposed of one site. We had no operational control over these sites, but did manage to obtain occupier data for the newly acquired asset. Occupier data is split out from landlord- controlled sites in the tables so that a clear line can be drawn between landlord purchased and occupier purchased data per unit rather than site level to provide accurate areas (GIA). Occupier data is separated out from landlord purchased energy and is reported under Scope 3 emissions throughout the Report.