Frasers Property : becomes the first real estate company in Vietnam with SBTi-approved targets

PRESS RELEASE

Frasers Property becomes the first real estate company in Vietnam with SBTi-approved targets

• Frasers Property Vietnam demonstrates its commitment to sustainability
• Independent validation ensures company's targets are science-based and can help reduce Scopes 1, 2 and 3 emissions by 46.2% in FY2030 with FY2019 as its base year

HO CHI MINH CITY, 15 DECEMBER 2022

Frasers Property Vietnam (FPV), one of Vietnam's leading diversified real estate companies, today announced that the Science Based Targets initiative (SBTi) has approved its science-based approach to significantly reduce greenhouse gas (GHG) emissions. This is Vietnam's first approval for science-based targets from SBTi for a company in real estate.

The SBTi is a collaboration between Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), World Resources Institute (WRI) and the World Wide Fund for Nature (WWF), to drive ambitious climate action in the private sector by enabling organisations to set science-based emissions reduction targets. Following COP27, which was recently held in November 2022, FPV is committed to deliver action on an array of critical issues to tackle the climate emergency, and is committing to ambitious carbon emissions reduction targets that have been assessed and validated by the SBTi.

Edwin Tan, Deputy CEO of Frasers Property Vietnam, said, "Vietnam has a growing commitment to the ESG (Environmental, Social and Governance) agenda, which is in line with our Group-wide sustainability goal to be a net-zero carbon corporation by 2050. Frasers Property wants to do our part to raise sustainability outcomes in Vietnam. We are delighted to have the SBTi's approval of our science-based targets, which affirms our ambitious goal-setting to make a tangible impact on climate change. We want to work with like-minded partners to drive greater meaningful change in sustainability, and will continue to promote and lead activities for a sustainable environment and more inclusive society."

FPV's science-based approach to reducing emissions across the value chain

As part of the Group's decarbonisation journey that encompasses Scopes 1, 2 and 3 emissions, FPV has developed detailed net-zero carbon roadmaps and carbon reduction targets.

Scope 1 includes direct emissions produced from company's owned or controlled sources, while Scope 2 comprises indirect emissions produced by energy usage across company's footprint. FPV has committed to reduce absolute Scopes 1 and 2 emissions by 46.2% by FY2030 from FY2019 as its base year. This target covers GHG emissions from the company's operations and is aligned with the Paris Agreement to limit global temperature rise to 1.5°C. With reductions in GHG a priority, FPV is actively making buildings more energy efficient with green building certifications. To further reduce emissions in facilities it manages for occupiers, Melinh Point is now equipped with a water-cooled chiller system that reduces more than 23% in energy use. Additionally, LED lights are now in use in common areas across all properties, and solar streetlights and solar panels have been installed in Binh Duong Industrial Park.

Scope 3 carbon emissions contribute the largest share and encompasses a company's value chain - from tenants, contractors, suppliers, and vendors. FPV has also committed to reducing absolute Scope 3 emissions by 46.2% within the same timeframe.

To make progress on all three Scopes, FPV is moving towards implementing low-carbon building materials, improving energy efficiency and deploying more renewable energy solutions, as well as establishing Frasers Property's Group Responsible Sourcing Policy which was first unveiled in 2021. FPV

1

has been engaging tenants on a regular basis to spread awareness on climate issues and empowering them to take action, particularly in conserving energy. Most tenants in its commercial developments such as Melinh Point and Worc@Q2 as well as its first industrial development, Binh Duong Industrial Park, are currently on green leases. Green leases help define the environmental objectives for tenants to ensure higher standards in energy consumption and efficiency for better working environment and experiences.

END

About Frasers Property Limited

Frasers Property Limited ("Frasers Property" and together with its subsidiaries, the "Frasers Property Group" or the "Group"), is a multinational investor-developer-manager of real estate products and services across the property value chain. Listed on the Main Board of the Singapore Exchange Securities Trading Limited ("SGX-ST") and headquartered in Singapore, the Group has total assets of approximately S$40.2 billion as at 30 September 2022.

Frasers Property's multinational businesses operate across five asset classes, namely, residential, retail, commercial

• business parks, industrial & logistics as well as hospitality. The Group has businesses in Southeast Asia, Australia, Europe and China, and its well-established hospitality business owns and/or operates serviced apartments and hotels in over 20 countries in 70 cities across Asia, Australia, Europe, the Middle East and Africa.

Frasers Property is also the sponsor of two real estate investment trusts ("REITs") and one stapled trust listed on the SGX-ST. Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust are focused on retail, and industrial & commercial properties, respectively. Frasers Hospitality Trust (comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust) is a stapled trust focused on hospitality properties. In addition, the Group has two REITs listed on the Stock Exchange of Thailand. Frasers Property (Thailand) Public Company Limited is the sponsor of Frasers Property Thailand Industrial Freehold & Leasehold REIT, which is focused on industrial & logistics properties in Thailand, and Golden Ventures Leasehold Real Estate Investment Trust, which is focused on commercial properties.

In Vietnam, its signature developments include Binh Duong Industrial Park -- a modern, dynamic & sustainable industrial park strategically placed in Binh Duong Province; Melinh Point -- a Grade A boutique office building in HCMC's commercial District 1; Worc@Q2 -- a stylish and modern office building within Q2 Thao Dien -- a luxury mixed-use development in Thu Duc City. Its Fraser Hospitality business also maintains a local presence with Fraser Suites Hanoi, Fraser Residence Hanoi and Capri by Fraser in Ho Chi Minh City.

The Group is committed to inspiring experiences and creating places for good for its stakeholders. By acting progressively, producing and consuming responsibly, and focusing on its people, Frasers Property aspires to raise sustainability ideals across its value chain, and build a more resilient business. It is committed to be a net-zero carbon corporation by 2050. Building on its heritage as well as leveraging its knowledge and capabilities, the Group aims to create lasting shared value for its people, the businesses and communities it serves. Frasers Property believes in the diversity of its people and is invested in promoting a progressive, collaborative and respectful culture.

For more information on Frasers Property, please visit frasersproperty.comor follow us on LinkedIn.

For more information, please contact:

Frasers Property Vietnam

Ms. Kara Wong - Head, Marketing & Corporate Communication

M [phone]

1. [e-mail]

2

Picture attached:

1. Melinh Point by Frasers Property Vietnam contributes to the company's commitment to sustainability

1. Binh Duong Industrial Park by Frasers Property Vietnam is on track to achieve green certification

3