The gross location-based Scope 2 greenhouse gas emissions for 2023 are 117,989 tCO2eq.

The gross market-based Scope 2 greenhouse gas emissions for 2023 are 29,385 tCO2eq.

The gross Scope 3 greenhouse gas emissions for 2023 are 2,953,588 tCO2eq.

The total GHG emissions for 2023 are 3,071,578 tCO2eq, with Scope 1 emissions at 15,835 tCO2eq, Scope 2 emissions (location-based) at 117,989 tCO2eq, and Scope 3 emissions at 2,953,588 tCO2eq.

The total GHG emissions for 2023 are 2,917,164 tCO2eq, with Scope 1 emissions at 15,835 tCO2eq, Scope 2 emissions (market-based) at 29,385 tCO2eq, and Scope 3 emissions at 2,871,944 tCO2eq.

The method used for quantifying Group emissions is in line with the ISO 14064-1 standard, the GHG Protocol guidelines and the Bilan Carbone® methodology of ADEME (Agence de l’Environnement et de la Maîtrise de l’Énergie, or French Environment and Energy Management Agency), and is subject to specific methodological guidelines. The sources of emissions included in the Group's total carbon footprint are broken down per Scope and influence level.

URW carried out 3 assessments targeting climate-related risks and opportunities at different levels:

1. An analysis at Group level, aimed at identifying and prioritising climate-related risks and opportunities the Group could be exposed to as part of the transition to a low-carbon economy (risks and opportunities of transition) and resulting from climate events (physical risks and opportunities).

2. A deep dive on physical risks that could impact its assets. This assessment covered 95 different assets (Shopping Centres, Convention & Exhibition Centres, Offices) across Europe and was followed-up by 9 site visits to evaluate the local vulnerabilities and support the development of adaptation plans.

3. An analysis to evaluate potential correlations between various business indicators (seasonal attendance, seasonal revenues) and climate events.

URW relies on the following strategies for reducing Scope 2 emissions: - Purchase electricity from renewable energy sources through power purchasing agreements (PPAs) or covered by Guarantees of Origins (EU) and Renewable Energy Certificates (US). - Set an ambitious energy intensity reduction target of -50% in 2030 compared to 2015 in kWh/sqm. - Tendential decarbonisation of local networks.

The following items are excluded from the Group carbon footprint: direct emissions from processes excluding energy; biomass emissions (soil and forests); upstream transport of goods (emissions included for Viparis only); upstream leased assets; downstream transport of goods; use of sold products; end-of-life of sold products; downstream franchised assets; and other indirect emissions.

Scope 3 includes: - Emissions from energy production not included in Scopes 1 and 2 (extraction, production and transport of fuel, electricity, hot and cold steam). - Upstream emissions and transport and distribution losses of energy consumed by common areas. - Purchased products and services: expenses for daily operation of sites, such as cleaning, maintenance, security, waste management, energy and fluid provision, marketing expenses (OPEX), office supplies (headquarters). - Capital equipment: IT equipment on site, company vehicles. - Waste: on-site waste management. - Employee commuting: URW employees’ transportation from home to work. - Business travel: URW employees’ travel by plane and train. - Investments: Expenses related to development projects. - Visitor and customer transport: upstream and downstream travel of visitors, customers and/or occupants to the Group’s shopping centres and offices. - Downstream leased assets: electricity consumption of private areas (production, transportation and distribution). Exclusions: direct emissions from processes excluding energy; biomass emissions (soil and forests); upstream transport of goods (emissions included for Viparis only); upstream leased assets; downstream transport of goods; use of sold products; end-of-life of sold products; downstream franchised assets; and other indirect emissions.