September 2021 Green Bond: December 31, 2023 Allocation Report

This September 2021 Green Bond: December 31, 2023 Allocation Report is an update to the initial September 2021 Green Bond: September 30, 2022 Allocation Report.

Sustainability & Impact Strategy

As the largest publicly traded developer, owner, and manager of premier workplaces in the United States, BXP actively works to promote our growth and operations in a sustainable and responsible manner across our six dynamic gateway markets. The BXP sustainability & impact strategy is to conduct our business, the development, and operation of new and existing buildings, in a manner that contributes to positive economic, social, and environmental outcomes for our customers, shareholders, employees, and communities in which we serve.

Our investment philosophy is shaped by our core strategy of long-term ownership and our commitment to our communities and the centers of commerce and civic life that make them thrive. We are focused on developing and maintaining healthy, high-performance buildings, while simultaneously mitigating operational costs and the potential external impacts of energy, water, waste, greenhouse gas (GHG) emissions, and climate change.

BXP and its employees also make a social impact through charitable giving, volunteerism, public realm investments, and promoting diversity and inclusion at our workplace and in the community. We continue to address the needs of our stakeholders by making efforts to maintain and improve our performance across three pillars: climate action, resilience, and social good. Through these efforts, we demonstrate that operating and developing commercial real estate can be conducted with a conscious regard for the environment and wider society while mutually benefiting our stakeholders.

Management Assertion

BPLP Management asserts that, as of December 31, 2023, an amount equal to $621.5 million, or 74%, of the Net Proceeds, was used for the financing and refinancing of costs incurred from September 29, 2018 (three years prior to the issuance of the notes) through December 31, 2023 associated with the Eligible Green Projects specified in this September 2021 Green Bond: December 31, 2023 Allocation Report.