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Sustainability is at the core of how Global Real Assets (GRA) operates; maintaining income streams and preserving capital values is our mandate. As a result, it has seamlessly integrated into the daily activities of our investment teams, as well as our operations and support functions. As our business has evolved from private markets to a broader emphasis on real assets, sustainability has remained a constant component of our strategy.

We remain committed to providing our clients with an offering to meet their evolving sustainability needs. There are a variety of ways clients may choose to incorporate sustainability considerations into portfolio risk and return objectives, which is why we offer a variety of approaches, including dedicated net zero, impact and transition focused strategies, stewardship, ESG integration and customization. It's all about partnering with clients to enable choice.

In 2024, we made progress in strengthening our investment practices with the goal of enhancing the climate resilience of our real asset investments and long-term value creation and risk mitigation. We also enhanced our analytical tools, streamlined decision-making processes, and harmonized procedures across asset classes and regions where relevant.

Data remains the foundation of our sustainability efforts, and in 2024, we took deliberate steps to improve the quality, timeliness, and completeness of our data. We’re equipping ourselves to make more informed and timely decisions, helping to protect and create value within our portfolios.

Education continues to be a priority. We further enhanced our comprehensive ESG curriculum with additional modules tailored to real assets and private markets, ensuring that sustainability remains a shared responsibility across our organization and our teams remain up to date and fluent on the topic.

We invite you to explore this 15^th edition of our sustainability brochure, to learn more about our recent progress, wins and what we’re planning next. We look forward to continuing this journey with you.