Morguard Corporation ("Morguard") (TSX: MRC) today released its 2024 Environmental, Social and Governance (ESG) Report, detailing key accomplishments and outlining its path forward on sustainability, decarbonization, risk management, governance, and stakeholder engagement. To download the 2024 ESG Report, visit morguard.com/sustainability.

"As we celebrate our 50th anniversary, we are sharpening our focus on long-term resilience, climate action, and community impact," said Angela Sahi, President and COO, Morguard. "We are committed to creating measurable value for our stakeholders by driving environmental progress and supporting communities through a strong and purpose-driven ESG approach."

Environmental Highlights: Toward Net ZeroIn 2024, Morguard renewed its commitment to climate resilience and operational efficiency through an updated ESG Strategic Framework while continuing efforts to align future disclosures with the Sustainability Accounting Standards Board (SASB) and Canada's new Sustainability Disclosure Standards (CSDS).

As part of its net-zero roadmap, Morguard reaffirmed its long-term targets, including a 50% reduction in greenhouse gas (GHG) emissions by 2030 and achieving net-zero across its portfolio by 2050. Progress toward these goals includes:

By integrating sustainability into its operations and planning, Morguard is advancing its broader strategy to incorporate smart building technologies and sustainable practices across its portfolio, reducing its environmental footprint while building a more resilient, energy-efficient real estate platform.

Social Highlights: Creating Community Impact Morguard believes that sustainable buildings are essential to thriving communities. In 2024, the company deepened its commitment to community well-being and strengthened its social partnerships:

These initiatives are part of our broader Sustainable Morguard's program, which brings together environmental action and community engagement across its retail and commercial properties.

Governance Highlights: Embedding ResponsibilityOver the past year, Morguard strengthened its governance framework by enhancing oversight, improving ESG reporting, and expanding risk management practices. Key milestones include:

"We are proud of how far we have come, and this year's progress reflects the dedication of our teams and the strength of our values," said Beverley G. Flynn, Senior Vice President responsible for Legal, Risk and ESG. "As we look ahead, we remain committed to evolving our ESG practices to meet rising expectations and advancing positive impact across our communities. Together with our employees, tenants, residents, and partners, we are building communities that are resilient, inclusive, and prepared for the future."

About Morguard CorporationMorguard Corporation is a major North American real estate and property management company. It has extensive retail, office, industrial, hotel and residential holdings owned directly and through its investment in Morguard Real Estate Investment Trust and Morguard North American Residential REIT. Morguard also provides real estate management services to institutional and other investors. Morguard's owned and managed portfolio of assets is valued at $18.7 billion. This year, Morguard proudly celebrates 50 years of leadership, innovation, and growth in the real estate industry.

For more information, visit www.morguard.com or follow us on LinkedIn and Instagram.

SOURCE Morguard Corporation

SOURCE: Morguard Corporation

For further information: Beverley G. Flynn, Senior Vice President; John SmiAiklas,
Director, ESG, T 905-281-3800. or email sustainability@morguard.com

COMTEX_465321694/2197/2025-05-08T11:25:00