We want to make sure that our sustainability report addresses what matters most to you.

GRI Index

The Global Reporting Initiative (GRI) is a non-government organization that has pioneered the global standard for sustainability reporting (G4 Guidelines) used by thousands of companies worldwide.

GRI published a Construction and Real Estate Sector Supplement (CRESS) in 2011 for entities involved in the design, construction and operation of buildings. Oxford was proud to be represented on the international working group – alongside over 20 other organizations – that developed CRESS, and our reporting has been aligned with it since 2011.

General Standard Disclosure

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STRATEGY AND ANALYSIS

G4-1

Message from the CEO

ORGANIZATIONAL PROFILE

G4-3 – G4-10, G4-13

Organizational Profile

Oxford Properties Group is a global platform for real estate investment, development and management. Oxford oversees and manages approximately $42 billion in real estate for itself and on behalf of its co-owners and investment partners as at December 31, 2016. Oxford employs over 1,900 employees and is headquartered in Toronto, with offices in Boston, New York, Washington D.C., London and across Canada. Oxford owns over 157 standing assets representing approximately 70 million square feet. Direct real estate portfolio composition (percentage of portfolio based on market value):

Office 56%
Retail 33%
Industrial 3%
Residential 4%
Hotels and Resorts 4%

Oxford operates in Canada (59% of the portfolio), the United States (22% of the portfolio) and Europe (19% of the portfolio, based in England and France).

Oxford is a wholly owned subsidiary of the OMERS Administration Corporation (OAC). OMERS was established in 1962 as the pension plan for employees of municipal governments, school boards, libraries, police and firefighters, Children's Aid Societies, and other local agencies throughout Ontario. Funded by contributions and investment earnings, the OMERS pension plan has over 460,000 active and retired members and nearly 1,000 participating employers. As at December 31, 2016, OMERS reported net assets of approximately $85 billion.

The following changes in our portfolio were made during the reporting period:

	Acquisitions¹	Dispositions¹
Office	Eau Claire Tower, Calgary St. James Market II, London UK	Green Park, Reading UK King Edward Court and St. Martin Court, London UK
Retail	50 New Bond Street, London UK DIX 30 Follow-on, Montreal
Residential		Montserrat Apartments, Montreal
Hotels		Fairmont Vancouver Airport Hotel, Vancouver
Industrial	501 Boyd Street – Phase III, Vancouver
¹ Portfolio acquisitions and dispositions for all asset classes are represented here for all standing investments (excluded are credit and indirect investments).

G4-11

Our People – How We Performed

G4-12

Our Buildings – Supply Chain

G4-14

Sustainability at Oxford – Our Principles

Our Guiding Principles align with a precautionary approach to environmental stewardship and protection.

G4-15 – G4-16

External Initiatives

IDENTIFIED MATERIAL ASPECTS AND BOUNDARIES

G4-17 – G4-23

About This Report

STAKEHOLDER ENGAGEMENT

G4-24 – G4-27

Stakeholder Engagement

REPORT PROFILE

G4-28 – G4-33

About This Report

GOVERNANCE

G4-34

Governance

ETHICS AND INTEGRITY

G4-56

Governance, Code of Conduct and Professional Code of Conduct

Economic

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Aspect: Climate Change
EC2	Oxford strives to take a leadership role in addressing climate change through a range of actions, including the setting of corporate energy reduction targets and the integration of environmental management practices into our green leases. We understand that our stakeholders expect us to take proactive steps to address the material risks of climate change for the benefit of our business and the environment. Oxford employees understand that climate change is a significant challenge facing nations, policymakers and businesses – presenting both risks and opportunities. The risks and opportunities from climate change to Oxford's business are summarized below. Risks Reputational and competitive risks if Oxford fails to align our priorities and actions in this area with those of our tenants Carbon-trading schemes or taxes that directly or indirectly increase costs at our buildings Increase in extreme weather events that could result in increased building damage or make certain markets less attractive New building codes, by-laws, or building maintenance requirements Opportunities Driver for improving energy conservation and efficiency, reducing greenhouse gas emissions and reducing building costs Regulations that make renewable energy generation (e.g., rooftop solar) potentially more attractive at our buildings Diversification of energy sources or technologies in buildings, which could improve the resiliency of building portfolios to energy price fluctuations over the long term Markets that may become more attractive for real estate investment, development or ownership due to favourable warming trends Green Leases Oxford signed its first green office lease in 2012. While there have always been environmental aspects to our lease, we decided to update our base lease form to align with evolving customer expectations and Oxford’s commitment to being an industry leader in sustainability. The green lease includes targets for the building (e.g., green building certification type and level, energy and water consumption, waste diversion), articulates the range of best practices Oxford will implement in managing the building (consistent with LEED), and includes a few requests of our customers in the area of sustainability.

Aspect: Climate Change

EC2

Oxford strives to take a leadership role in addressing climate change through a range of actions, including the setting of corporate energy reduction targets and the integration of environmental management practices into our green leases. We understand that our stakeholders expect us to take proactive steps to address the material risks of climate change for the benefit of our business and the environment.

Oxford employees understand that climate change is a significant challenge facing nations, policymakers and businesses – presenting both risks and opportunities. The risks and opportunities from climate change to Oxford's business are summarized below.

Risks

Reputational and competitive risks if Oxford fails to align our priorities and actions in this area with those of our tenants
Carbon-trading schemes or taxes that directly or indirectly increase costs at our buildings
Increase in extreme weather events that could result in increased building damage or make certain markets less attractive
New building codes, by-laws, or building maintenance requirements

Opportunities

Driver for improving energy conservation and efficiency, reducing greenhouse gas emissions and reducing building costs
Regulations that make renewable energy generation (e.g., rooftop solar) potentially more attractive at our buildings
Diversification of energy sources or technologies in buildings, which could improve the resiliency of building portfolios to energy price fluctuations over the long term
Markets that may become more attractive for real estate investment, development or ownership due to favourable warming trends

Green Leases

Oxford signed its first green office lease in 2012. While there have always been environmental aspects to our lease, we decided to update our base lease form to align with evolving customer expectations and Oxford’s commitment to being an industry leader in sustainability.

The green lease includes targets for the building (e.g., green building certification type and level, energy and water consumption, waste diversion), articulates the range of best practices Oxford will implement in managing the building (consistent with LEED), and includes a few requests of our customers in the area of sustainability.

Environmental

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Aspect: Energy
Disclosure of Management Approach	About This Report: Energy and Greenhouse Gas Emissions Our Buildings – Developing Green Buildings
G4 – EN3	Our Buildings – How We Performed – Energy Consumption
G4 – EN6	Our Buildings – How We Performed – Reduction of Energy Consumption
CRE1	Our Buildings – How We Performed – Building Energy Intensity
CRE8	Our Buildings – How We Performed – Green Buildings
Aspect: Water
Disclosure of Management Approach	About This Report: Water, Effluents and Waste, and Materials Our Buildings – Developing Green Buildings
EN8	Our Buildings – How We Performed – Total Water Withdrawal by Source
CRE2	Our Buildings – How We Performed – Building Water Intensity
Aspect: Emissions
Disclosure of Management Approach	About This Report: Energy and Greenhouse Gas Emissions Our Buildings – Developing Green Buildings
EN15 – EN16	Our Buildings – How We Performed – Direct and Indirect GHG Emissions (Scope 1 & Scope 2)
EN18	Our Buildings – How We Performed – GHG Emissions Intensity
EN19	Our Buildings – How We Performed – Reduction of GHG Emissions
EN23	Our Buildings – How We Performed – Waste

Labour Practice and Decent Work

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Aspect: Employment
Disclosure of Management Approach	About This Report: Social – Labour Practice and Decent Work
LA6	Our People – How We Performed – Type of Injury Rates

Product Responsibility

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Aspect: Product and Service Labelling
Disclosure of Management Approach	About This Report: Product and Service Labelling
PR5	Our Customers – How We Performed