LAMDA DEVELOPMENT

LAMDA’s Sustainability Strategy represents the integrated incorporation of environmental, social, and economic considerations into the Group’s business strategy, aiming to ensure long-term viability while creating a positive impact across all its activities.

Specifically, the Strategy focuses on:

Reducing the Group’s environmental footprint and addressing climate change through clearly defined decarbonization targets and actions.
Protecting nature and promoting the sustainable management of natural resources, by embedding circular economy principles across all operations.
Enhancing social well-being, health & safety, and fostering resilient and inclusive communities.
Strengthening corporate governance and operational resilience, in response to increasing stakeholder expectations for responsible and ethical business practices.

The Strategy is aligned with the United Nations Sustainable Development Goals (SDGs) and is supported by measurable Key Performance Indicators (KPIs), a dedicated investment plan, and robust monitoring mechanisms, ensuring effective implementation and continuous improvement of the Group’s sustainability performance.

The Strategy addresses all stakeholders of the Group and has a cross-functional impact across operations, investments, and the value chain. Specifically:

• Employees: Through the integration of sustainable practices into daily operations and active participation in achieving the Strategy’s objectives.
• Investors and Financial Institutions: Who assess the Group’s sustainability performance and place emphasis on the existence of a clear strategy and targets.
• Customers and Tenants: Who benefit from the implementation of the Strategy’s objectives (e.g., decarbonization targets and energy-efficient buildings leading to lower operating costs, sustainable resource management, etc.).
• Society and Local Communities: Who benefit overall from the Strategy’s implementation (e.g., decarbonization, energy-efficient buildings, and the development of sustainable communities).
• Suppliers, Contractors, and Partners: Through the implementation of the Strategy across the value chain and the adoption of best practices throughout the lifecycle of projects.

Public Authorities and Regulatory Bodies: Particularly regarding decarbonization targets and compliance with national and EU frameworks for climate neutrality, the Paris Agreement, and the EU Taxonomy

2025–2030

The Sustainability Strategy is a comprehensive framework that embeds sustainability principles into the core of the Group’s business strategy and operations. It was initially developed for The Ellinikon and from 2025 it has been updated and applies to all its activities.

The Strategy is structured around three main pillars:

1. Action on Climate Change – The Group aims to reduce carbon emissions, adapt to climate change impacts, and prevent air pollution. To achieve decarbonization, a dedicated Decarbonization Strategy has been developed with science-based short-term targets.
2. Designing Destinations with a Positive Impact on Nature – The Group aims to protect nature and biodiversity, reduce and efficiently use natural resources, and promote circular economy principles, including recycling, reuse, and material recovery across all activities.
3. Building Resilient Communities – The Group enhances social well-being, health & safety, and diversity of people and affected communities, while fostering active stakeholder engagement. A Corporate Social Responsibility Strategy has also been developed to support objectives related to communities.

The Sustainability Strategy is supported by a governance framework with objectives focused on zero tolerance for corruption, equal opportunities, and a sustainable supply chain.

Implementation is based on cross-departmental collaboration, with the Sustainability Department coordinating planning and monitoring through specific KPIs. Key characteristics include a holistic value-chain approach, alignment with international standards and the SDGs, and the integration of measurable targets and monitoring mechanisms.

LAMDA’s Sustainability Strategy is developed and implemented in close collaboration with internal stakeholders, external partners, and institutional bodies, as partnerships constitute a key enabler for its effective execution.

Key partners include scientific organizations such as HCMR (Hellenic Centre for Marine Research) and the National Observatory of Athens, as well as international initiatives and organizations such as the Science Based Targets initiative (SBTi) and the U.S. Green Building Council (USGBC), alongside a wide range of Non-Governmental Organizations, among others.

The Group’s Sustainability Department is responsible for designing the Strategy, as well as monitoring progress against its targets and associated actions, in close collaboration with internal stakeholders. These include sustainability specialists, subject-matter experts, and key data owners from across the Group’s departments and divisions, including senior management.

Employees actively contribute to the implementation of the Strategy’s objectives by integrating sustainable practices into their day-to-day activities, thereby supporting the achievement of targeted outcomes.

At the same time, under the Resilient Communities pillar, the Group collaborates with Non-Governmental Organizations (NGOs) and civil society stakeholders to implement initiatives with a positive social and environmental impact, strengthening the cohesion and resilience of local communities.

Greece – across the Group’s full portfolio, including Shopping Centers, Flisvos Marina and developments at The Ellinikon

The implementation of the Group’s Sustainability Strategy delivers measurable and meaningful results, strengthening environmental, social, and operational value across all stakeholder groups. In particular, in 2025:

• The Group’s Decarbonization Strategy and associated targets were validated by the Science Based Targets initiative (SBTi), ensuring full alignment with the 1.5°C pathway.
• A total emissions reduction of 37.9% was achieved (Scope 1, Scope 2 – market-based, and Scope 3) compared to 2024, demonstrating the effectiveness of the implemented actions.
• The environmental performance of the Group’s developments improved significantly through internationally recognized certifications (LEED and SITES at The Ellinikon) and enhanced alignment with the EU Taxonomy requirements at the level of the Group’s economic activities.
• Environmental protection and asset resilience were strengthened through targeted biodiversity and circular economy initiatives, achieving high waste diversion rates (97% at The Ellinikon, 100% at shopping centers, and 49% at Flisvos Marina).
• Resource efficiency improved, particularly in water management, through conservation and reuse measures (8.7% use of non-potable water).
• The Group’s social impact was reinforced through extensive stakeholder engagement (100+ engagements and thematic events) and the implementation of targeted programs, benefiting more than 6,000 individuals (indicatively: “Me Alla Matia”, “Smart City Innovators”, “Senior Citizen Program”).

Overall, these outcomes contribute to the creation of measurable value for society, the environment, and the economy, while strengthening transparency, stakeholder trust, and the long-term resilience of the Group’s developments.

The Sustainability Strategy and its associated actions materially strengthen the Group’s operational performance and long-term value creation, delivering multiple and measurable benefits:

• Significant enhancement of ESG performance across international benchmarks, including a 97% score in the ATHEX ESG Index with a leading ranking (6th place), a first-time CDP assessment with a B rating for Climate Change and Water, and 1st place in Greece in GRESB (Global Real Estate Sustainability Benchmark).
• Ensured alignment with international standards and frameworks (SDGs, Paris Agreement, EU Taxonomy, SBTi), enhancing transparency and comparability of performance.
• Reduced exposure to climate-related and regulatory risks through proactive adaptation to an increasingly stringent and rapidly evolving landscape.
• Optimization of operating costs through improved resource efficiency, energy savings, and increased use of renewable energy sources.
• Strengthened attractiveness to investors and financial institutions, facilitating access to sustainable financing.
• Development of sustainable and resilient real estate assets, increasing the value and competitiveness of the Group’s portfolio.
• Promotion of health, safety, and well-being through the creation of safe, accessible, and inclusive environments for employees, partners, and end-users.
• Empowerment of human capital through skills development and the cultivation of a sustainability-driven culture across the organization.
• Reinforcement of corporate reputation and further differentiation in the market, reflecting the Group’s leadership in sustainability.

Overall, the Strategy acts as a key driver of sustainable value creation, enhancing the Group’s resilience, competitiveness, and market positioning.