Allied Releases Third Annual Environmental, Social and Governance Report

Allied Properties Real Estate Investment Trust (“Allied”) (TSX:AP.UN) today announced it has published its 2021 Environmental, Social and Governance (ESG) Report.

Allied’s 2021 performance exceeded its 2024 reduction targets for Energy Use Intensity (EUI), Greenhouse Gas Intensity (GHGI) and Water Use Intensity (WUI). In order to continuously improve its performance, Allied initiated its Net Zero Carbon Plan. The Plan will identify a clear pathway for Allied to reach net zero in alignment with the Science Based Targets Initiative’s (SBTi) Corporate Net-Zero Standard v1.0. Guided by oversight from Allied’s ESG Committee, with support from industry experts and stewarded by a multi-disciplinary Net Zero Project Team, Allied intends to complete its Net Zero Carbon Plan in the next 12-18 months.

Allied’s 2021 ESG Report is aligned with (i) the Global Reporting Initiative (GRI) (ii) the Sustainability Accounting Standards Board (SASB) Real Estate Standard and for the first time, (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 Allied’s approach to ESG more manifest, deliberate and measurable. Allied has always believed that submitting to informed scrutiny will make it a better and more successful business, and formally submitting to ESG scrutiny is no exception in this regard.

Read Allied’s 2021 ESG Report at www.alliedreit.com.

ABOUT ALLIED

Allied is a leading operator of distinctive urban workspace in Canada’s major cities and network-dense UDC space in Toronto. Allied’s mission is to provide knowledge-based organizations with workspace and UDC space 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:

Michael R. EmoryPresident & Chief Executive Officer(416) [e-mail]

Cecilia C. WilliamsExecutive Vice President & Chief Financial Officer(416) [e-mail]