SASB Table

The Real Estate Sustainability Accounting Standard, most recently updated by the Sustainability Accounting Standards Board (“SASB”) in 2023, includes commonly used material sustainability metrics and serves as a framework chosen by many public REITs to disclose sustainability-related information. This standard includes Energy Management and Water Management metrics, and metrics related to the Management of Tenant Sustainability Impacts and Climate Change Adaption.

Orion’s SASB disclosures for the fiscal year ending December 31, 2023, are presented below.

Topic	Code	Metric	Category	Response
Energy Management	IF-RE-130a.1	Energy consumption data coverage as a percentage of total floor area, by property sector	Quantitative	100%
	IF-RE-130a.2	(1) Total energy consumed by portfolio area with data coverage, (2) percentage grid electricity and (3) percentage renewable, by property sector	Quantitative	(1) 434,354GJ¹ (2) 100% (3) 2.3%²
	IF-RE-130a.3	Like-for-like percentage change in energy consumption for the portfolio area with data coverage, by property sector	Quantitative	31.6%
	IF-RE-130a.4	Percentage of eligible portfolio that (1) has an energy rating and (2) is certified to ENERGY STAR, by property sector	Quantitative	(1) 11.3% (2) 1.7%
	IF-RE-130a.5	Description of how building energy management considerations are integrated into property investment analysis and operational strategy	Discussion and Analysis	Building energy management is an important component of the Company’s property investment analysis and operational strategy. During the investment analysis process, the Company considers the property’s energy efficiency, green certifications, such as Energy Star or LEED, available renewable energy sources, such as solar power, and EV charging stations. Regarding operational strategy, a significant majority of the Company’s leases are double net and triple net leases where the tenant generally controls the energy management practices at the property. However, the Company recognizes that resource consumption can have a meaningful impact on the environment and works with its tenants to obtain information with respect to energy management practices. During 2022, the Company conducted a tenant survey to gather information regarding property specific environmental features, including energy management practices. This survey revealed that a number of the Company’s tenants employ a variety of environmentally friendly energy management initiatives, such as LED lighting, motion detection lighting systems, energy efficient windows and energy efficient appliances. The Company is committed to engaging and collaborating with its tenants to understand the Company’s climate-change related impacts and seek to identify areas of improvement.
Water Management	IF-RE-140a.1	Water withdrawal data coverage as a percentage of (1) total floor area and (2) floor area in regions with High or Extremely High Baseline Water Stress, by property sector	Quantitative	(1) 100%³ (2) 28.3%
	IF-RE-140a.2	(1) Total water withdrawn by portfolio area with data coverage and (2) percentage in regions with High or Extremely High Baseline Water Stress, by property sector	Quantitative	(1) 491,888.06 m³ ⁴ (2) 28.3 %
	IF-RE-140a.3	Like-for-like percentage change in water withdrawn for portfolio area with data coverage, by property sector	Quantitative	8.7%
	IF-RE-140a.4	Description of water management risks and discussion of strategies and practices to mitigate those risks	Discussion and Analysis	A significant majority of the Company’s leases are double net and triple net leases where the tenant generally controls the water management practices at the property. However, the Company recognizes that resource consumption can have a meaningful impact on the environment and works with its tenants to obtain information with respect to water management practices. During 2022, the Company conducted a tenant survey to gather information regarding property specific environmental features, including water management practices. This survey revealed that a number of the Company’s tenants employ a variety of environmentally friendly water management initiatives, such as water efficient plumbing fixtures, smart irrigation systems and water efficient appliances. The Company is committed to engaging and collaborating with its tenants to identify areas of improvement with respect to water management practices.
Management of Tenant Sustainability Impacts	IF-RE-410a.1	(1) Percentage of new leases that contain a cost recovery clause for resource efficiency-related capital improvements and (2) associated leased floor area, by property sector	Quantitative	(1) 42.9% (2) 24,284.57m²
	IF-RE-410a.2	Percentage of tenants that are separately metered or submetered for (1) grid electricity consumption and (2) water withdrawals, by property sector	Quantitative	(1) 81.1 %⁵ (2) 81.1 %⁵
	IF-RE-410a.3	Discussion of approach to measuring, incentivising and improving sustainability impacts of tenants	Discussion and Analysis	A significant majority of the Company’s leases are double net and triple net leases where the tenant generally controls the environmental practices and conditions at the property. The Company measures our tenant sustainability impacts by working with the tenants to obtain information regarding sustainability impacts. The Company seeks to include green lease clauses in new leases and lease amendments, such as cost recovery clauses and clauses that require tenants to share utility consumption data. During 2022, the Company conducted a tenant survey to gather information regarding property specific sustainability features. One of the ways the Company seeks to incentivize and improve sustainability practices is through tenant improvement allowances that may be used by our tenants to make energy and water efficiency investments at our properties. The Company also educates its employees on evolving best-practice environmental strategies and is committed to engaging and collaborating with its tenants to understand the climate change-related impacts of our properties and seek to identify areas of improvement.
Climate Change Adaptation	IF-RE-450a.1	Area of properties located in 100-year flood zones, by property sector	Quantitative	36,634.46 m²
Climate Change Adaptation	IF-RE-450a.2	Description of climate change risk exposure analysis, degree of systematic portfolio exposure, and strategies for mitigating risks	Discussion and Analysis	The Company’s portfolio faces risks related to climate change. These include physical risks to our properties from severe storms, flooding and natural hazards, declining demand for leasing the Company’s properties or increasing costs associated with remediation and adaptation, and risks associated with transition to a lower-carbon economy related to, among other things, federal, state and local legislation and regulations that are being implemented or are under consideration to mitigate the effects of climate change as well as evolving tenant preferences. To mitigate the physical risks of climate change, the Company maintains comprehensive insurance coverage on all of its portfolio properties. In addition, the Company recently completed a greenhouse gas emissions (“GHG”) scope 1 and scope 2 inventory. Our scope 1 and scope 2 GHG emissions inventory across our portfolio prepares us for compliance with potential federal or local regulations and established a reference point for monitoring changes in our direct emissions. Other strategies for mitigating climate change risks include educating employees on evolving environmental strategies, developing relationships with its tenants and ESG vendor partners, seeking to engage and collaborate with its tenants to understand the climate-change related impacts of our properties, and identify areas of improvement.
Activity Metrics	IF-RE-000.A	Number of assets, by property subsector	Quantitative	83 assets
	IF-RE-000.B	Leasable floor area, by property subsector	Quantitative	8,900,215 square feet
	IF-RE-000.C	Percentage of indirectly managed assets, by property subsector	Quantitative	81.1%
	IF-RE-000.D	Average occupancy rate, by property subsector	Quantitative	80%

¹ Utility information was available for our leases under direct operational control, for which energy consumption was calculated. For the remainder and majority of our lease agreements, double-net and triple-net lease, limited utility information was available. The majority of our portfolio's energy consumption was estimated using the U.S. EIA’s Commercial Buildings Energy Consumption Survey (CBECS) 2018 for office buildings, our only property subsector.

² To the best of our knowledge, we are estimating 100% of electricity is from the grid. We are assuming that all properties in the portfolio use water. The percentage of renewable energy calculated is based on utility information available for leases under operational control.

³ We are assuming that all properties in the portfolio use water.

⁴ Due to the majority of our lease agreements being double-net or triple-net leases, limited utility information was available. The water consumption for our total portfolio was estimated using the U.S. EIA’s Commercial Buildings Energy Consumption Survey (CBECS) 2012 for office buildings, our only property subsector. The 2012 survey is the most recent information from the U.S. EIA's CEBCS with water intensity assumptions.

⁵ Tenants of our triple net leases and double net leases are responsible for the management of the property, including utilities, and have been treated, for the purposes of the Table, as metered and sub-metered.