CROMBIE REIT ANNOUNCES RELEASE OF 2023 ENVIRONMENTAL, SOCIAL & GOVERNANCE REPORT

NEW GLASGOW, NS, June 26, 2024 /CNW/ - Crombie Real Estate Investment Trust ("Crombie") (TSX: CRR.UN) announced today the release of its 2023 Environmental, Social & Governance ("ESG") Report which provides an overview of Crombie's ESG initiatives and strategies, highlighting progress and achievements across key priorities.

"Crombie's portfolio spans from coast to coast in the heart of vibrant towns, expanding cities, and major urban centres, and our team is committed to enriching these communities across Canada through sound environmental practices, social responsibility, and strong corporate governance," said Mark Holly, President and CEO. "In 2023, we further embedded ESG priorities into our strategy and culture, strengthened our ESG commitments, and made significant advancements in this important program."

Key highlights from Crombie's 2023 ESG Report include:

• Climate Action Plan ("CAP") validated and approved by the Science Based Targets initiative ("SBTi").
• Reduced operational greenhouse gas ("GHG") emissions by 32% from our 2019 baseline.
• Improved GRESB scores, resulting in Green Star designations and year-over-year improvements of 45% and 25% in Standing Investments and Development Assessments, respectively.
• Named a 2023 Green Lease Leader, receiving Gold Level by the Institute for Market Transformation and the U.S. Department of Energy's Better Buildings Initiative.
• Achieved 55% increase in building certifications and awarded BOMA BEST Platinum certification for Scotia Square.
• Crombie's active major development, The Marlstone, is being built to LEED Gold standards and to a Rick Hansen Foundation Accessibility Certification (RHFAC).
• Named one of Canada's Top Employers in three categories: Small and Medium Employers, Atlantic Canadian, and Nova Scotia Employers.
• Created a new Community Impact Strategy centred on two pillars, People and Planet.
• Implemented term limits and Retirement Policy for Board of Trustees.
• Conducted physical climate risk assessment of our portfolio to inform our approach to climate risk mitigation.

"In 2023, our Climate Action Plan, built upon reliable data and science-based standards, was validated by SBTi," said Arie Bitton, EVP Leasing & Operations. "We are proud of this achievement and the work we are doing to reduce our emissions that has resulted in a 32% reduction in scope 1, 2, and 3 operational emissions from our 2019 baseline."

Crombie's 2023 ESG Report can be found at https://www.crombie.ca/esg/.

About Crombie REIT

Crombie invests in real estate with a vision of enriching communities together by building spaces and value today that leave a positive impact on tomorrow. As one of the country's leading owners, operators, and developers of quality real estate assets, Crombie's portfolio primarily includes grocery-anchored retail, retail-related industrial, and mixed-use residential properties. As at March 31, 2024, our portfolio contains 304 properties comprising approximately 19.2 million square feet, inclusive of joint ventures at Crombie's share, and a significant pipeline of future development projects. Learn more at www.crombie.ca.

SOURCE Crombie REIT

Media Contacts, Kara Cameron, CPA, CA, Interim Chief Financial Officer, 902-755-8100; Ruth Martin, CPA, CA, CPIR, Senior Director, Investor Relations & ESG Reporting, 902-759-0164