SGR.U: Sound operating outlook, yet estimates trimmed

Research evidence excerpt

SGR.U: Sound operating outlook, yet estimates trimmed

Slate Grocery REIT

Key sustainability questions

This section is intended to highlight key sustainability discussion points relevant to this company, as well as our views on the outlook. Both the

questions we highlight and our responses will evolve over time as the dialogue between management, analysts and investors continues to

advance. We welcome any feedback on the topics.

Our view

What are the most material Slate Grocery REIT’s primary focus areas in ESG relate to E) improving the

sustainability issues facing this environmental and operational efficiency of its properties, S) protecting the health

company? and safety of its stakeholders and continuing to invest in its people, and G)

maintaining a set of accountable governing principles.

Does the company integrate Slate Asset Management has developed an ESG Due Diligence check list for its asset

sustainability considerations into its managers, property managers, and its development team. Under the Slate Asset

strategy? Management umbrella, SGR has incorporated a number of sustainability initiatives

into its strategy. Notable initiatives include retrofitting properties with LED lighting,

white reflective roofing, evaluating solar panel installations, a Diversity & Inclusion

Committee, employee mental health and wellness programs, and contributions to

charitable organizations. SGR has also partnered with its tenants, including Kroger

and Wal-Mart, to assist with corporate environmental initiatives at the property

level.

What is diversity like at the board/ Currently, two (25%) of SGR's eight trustees are women, consistent with the Board's

management level? diversity policy, which mandates that at least one trustee is a woman. Based on the