Please note: This ESG policy is CURRENTLY BEING revised to become OUR Responsible Investor Policy.

Environmental, Social and Governance (“ESG”) Policy

I. INTRODUCTION

NorthBridge Partners LLC (the “Company”) is committed to sustainability and embraces a holistic ESG approach with socially responsible actions that contain both near and long-term perspectives regarding investment criteria and portfolio management processes. At the core of NorthBridge Partners’ values is also an understanding that global and local environmental and social issues have real linkages to economic growth. NorthBridge Partners recognizes that in the financial community, ESG factors play a key role in determining risk and return. Upon every investment acquisition and hold period, ESG considerations are part of the underwriting process and ownership strategy.

II. RESPONSIBLE PARTIES

The Company dedicates resources to focus on ESG factors through an internal ESG Committee (the “Committee”) that evaluates where the Company can implement thoughtful and impactful ESG mandates. The members that make up this committee represent the various departments within NorthBridge Partners such as asset management, portfolio management, acquisitions, development, investor relations, and compliance. The Committee meets with the Managing Partners on a monthly basis to provide updates, adopt policies and set the overall ESG strategy.

III. ESG OBJECTIVES

NorthBridge Partners is committed to the following ESG objectives across its portfolio and ongoing investment practices:

The Company’s primary ESG focus is outlined by our initial ESG Mandates:

  • Coffee Connectors & Opportunity Internship

  • Solar Implementation & Sustainable Improvement Initiatives

  • Invest where you invest programs

  • Open & Transparent communication with Investors

Environment
Reduce utility consumption and continually improve building efficiencies of existing assets while assessing improvement opportunities for new investments.

Social
Foster an environment of respectful engagement, diversity, and well-being focus at the corporate level to delivery better work environments for tenants, management of assets and better returns to Investors.

Governance
Promote a culture of corporate responsibility, accountability, equality, and transparency among employees, clients, and investments.

IV. RESPONSIBLE INVESTMENT GUIDELINES

a. Environmental Sustainability

i. NorthBridge Partners focuses on the importance of sustainability throughout its portfolio. The Company aims to maximize energy efficiency and minimizes environmental impact, as a tool to drive value for investors. NorthBridge Partners does this through integration of ESG considerations in the investment management processes and ownership practices in the belief that these factors can positively impact financial performance. By integrating sustainability analysis and initiatives focused on the life cycle of each investment relative to its geographical submarkets and the tenant community each asset serves.

ii. Leasing

  1. Include “green lease” language as part of the lease template encouraging disclosure of energy consumption and related costs to Landlord from Tenant.

iii. Construction and Capital Approval

iv. Budgeting

v. Governance

  1. As referenced above, NorthBridge Partners has an ESG Committee of Asset Managers, Development Managers, Acquisition Officers, and members of the Senior Management Team.

b. Social Responsibility

i. NorthBridge Partners believes that social responsibility comprises good corporate citizenship, as well as consideration of the impact of our operations on others and the environment. We seek to foster an environment of respectful engagement and diversity that encourages the professional development of all associates. Therefore, we are committed to making business decisions based on what we believe is right, not simply what may be convenient, and will have a lasting positive impact on those around us.

  1. Corporate giving – NorthBridge Partners regularly supports charities and community groups.

  2. Employee training – NorthBridge Partners provides professional training to 100% of employees. Training topics may include, but not limited to community health and well-being, customer/tenant safety, investment due diligence and compliance, and environmental issues.

  3. Diversity and Inclusion – NorthBridge is focused on improving diversity and inclusion at the Company and in commercial real estate at large through programs like Coffee Connectors and the Opportunity Internships.

c. Corporate Governance

i. NorthBridge Partners believes that we should embrace corporate responsibility, accountability, fairness, and transparency in how we manage our relationships with clients and investments. NorthBridge Partners has a comprehensive set of policies and procedures that govern the activities of the group, including:

  1. Social Policy, which sets standards on diversity and equal opportunity employment, worker rights, stakeholder engagement, employee performance and career development.

  2. Governance policies, which set standards on bribery, data protection and privacy, fiduciary duty, fraud, political contributions, whistleblower protection.

  3. Investment due diligence process – NorthBridge Partners and its employees have a duty to give investment advice that is suitable and appropriate to each client. This duty requires that employees responsible for providing services to NorthBridge’s Funds or Accounts be familiar with representations as to the investment objectives, activities, and restrictions of the Funds or Accounts and conduct a full “due diligence” review when selecting investments for these Funds or Accounts.

ii. All NorthBridge Partners professionals are required to be familiar with these processes and NorthBridge conducts ongoing training to ensure effective controls.

V. REPORTING

NorthBridge Partners participates in annual reporting of ESG practices.

VI. VERSION

This policy was initially implemented on January 1, 2022. This policy is reviewed annually by the ESG Committee and updated per the version number at the beginning of the document.