The 2025-2027 Sustainability Plan

During 2024, following the appointment of the new Board of Directors, the new Business Plan 2025-2027 was drawn up.

The definition of new sustainability targets was carried out by taking into account factors that were both internal and external to the company. The internal ones included the strategic decision to identify sustainability as one of the Business Plan’s core drivers to which a substantial part of the overall investments was to be assigned; included in the external ones was the overall increase in focus that all the Company’s stakeholders placed on Sustainabilty issues.

We identified 31 new targets, which we intend to meet by the end of 2027. These targets are measurable and challenging, through which the continuous improvement process initiated in
2011 will continue.

Issue	Material issue	Area	2027 targets
	ROAD TO ZERO EMISSIONS	Towards carbon neutrality	1. Purchase energy from renewable sources for 70% of the energy consumed (and 94% of the assets in Italy)
			2. Increase the installed capacity of photovoltaic systems by 50%
			3. Reduce greenhouse gas emission intensity location based by 40% (kwh/sqm, baseline 2018)
			4. Reduce Scope 3 emissions by 20% (baseline 2021)
		Extreme weather events	5. Identify any shopping centres of the Italian portfolio exposed to climate risk and define Action Plans for 100% of these
		Zero waste	6. Reach 60% of waste to recycling
		Importance of water	7. Map “water stressed” areas and identifying the most appropriate solutions for these assets
		BREEAM In Use certification for common areas of the malls	8. Achieve certification of more than 95% of the Italian shopping centres (by fair value) with a minimum “Very Good” rating
		Use of Artificial Intelligence technologies to reduce energy consumption	9. Installation of systems to monitor and reduce consumption in 16 shopping centres
		Biodiversity	10. Define a “Biodiversity Action Plan” for more than 33% of shopping centres (corresponding to 52% in Italy)
	MOBILITY AND ACCESSIBILITY	Mobility	11. Reach 200 electric car charging stations installed in the group's portfolio
	GOOD EMPLOYMENT	Training	12. Involve 100% of employees in at least one training activity each year
			13. Involve a minimum of 95% of employees in at least one sustainability training activity in the three-year period
		Engagement	14. Carry out a climate survey during the three-year period and define a possible improvement plan
		Assessment	15. Define a CSR target for top management and key related functions
		Diversity & Inclusion	16. Define the D&I policy and obtain specific certification
	WELLBEING, HEALTH AND SAFETY	Towards employees	17. Include at least one new service each year in the Corporate Welfare Plan for employees
	GOVERNANCE, ETHICS AND CORRUPTION	Governance	18. Complete the integration of ESG risks within Enterprise Risk Management
		Actions to ensure legality	19. Cybersecurity: publish the policy, constantly monitor incidents and keep response times short
			20. Ensure that the Responsible Tenancy Policy (once the necessary clauses have been defined) and Responsible Supply Chain Policy are signed by all tenants and suppliers upon contract renewal or new contract
			21. Maintain the Legality Rating with the maximum score
			22. Maintain UNI ISO 37001 certification
			23. Create an integrated certification system UNI ISO 14001-45001-9001
	SUSTAINABLE ENHANCEMENT OF THE PORTFOLIO	Sustainable enhancement of the portfolio	24. Carry out energy improvement activities in 4 shopping centres
			25. Provide measures for sight-impaired visitors in 3 shopping centres
	SPACES TO BE LIVED IN	Marketing and events	26. 100% of shopping centres with at least one annual initiative with a social or environmental theme
	INNOVATION	Digital	27. Continue implementing the Digital Plan
	STAKEHOLDERS ENGAGEMENT	Relations with investors/financial community	28. Improve overall evaluations in sollicited CSR ratings
		Relations with tenants	29. Engage at least 50% of the tenants in sharing energy consumption data
			30. Identify common projects with tenants in the CSR field
			31. Carry out surveys for retailers to monitor the Net Promoter Score
	LOCAL COMMUNITIES	Socio-aggregative aspect	32. Involve at least one non-profit association in 100% of shopping centres