RioCan Real Estate Investment Trust

###### Our commitment to ESG excellence relies on strong oversight and accountability

RioCan relies on a collaborative team to manage its ESG program.
Our SVP, General Counsel and Corporate Secretary, oversees the
program, ensuring ESG initiatives are prioritized and properly
resourced across the company.

At the Board level, the dedicated Nominating, Environmental,
Social and Governance Committee ("NESGC") – previously known
as the Nominating and Governance Committee – oversees the Trust's
strategy, policies and practices with respect to all ESG matters,
including those related to climate change.

The ESG Council is composed of a cross-functional executive and
organizational leadership team that oversees ESG strategy and
implementation and drives performance improvements.

Council members sponsor and provide guidance on ESG initiatives
within the organization and enable performance measurement.

###### Climate Committee

In 2021, RioCan established a cross-functional Climate Committee,
which consists of subject matter experts from all related business
functions. Chaired by the SVP, General Counsel and Corporate
Secretary, this committee is mandated to embed climate considerations
within our organizational objectives. The committee will ensure that our
priorities, input and achievement towards both long- and short-term
climate-related goals are fully aligned.

The dedicated Nominating, Environmental, Social and Governance Committee oversees RioCan's strategy, policies, practices and execution of ESG-and climate-related matters. The Committee ensures ESG is reflected in the Board skills matrix, Board diversity and ESG strategy, and engagement with investors and stakeholders. [...] The Audit Committee oversees reporting, climate risk management and internal controls. The Committee integrates climate and sustainability-related risks and associated monitoring and mitigation strategies into RioCan's enterprise risk management processes. [...] RioCan relies on a collaborative team to execute and manage its ESG program. Cross-functional and each having an executive sponsor, the committees oversee ESG strategy and implementation and drive performance improvements. In 2022, Jennifer Suess, SVP, General Counsel, ESG and Corporate Secretary, was tasked with overseeing ESG. Jennifer's role includes all aspects of RioCan's corporate legal strategy and related execution, governance, ESG, Board and related committee matters.