Urban Edge Properties : 2023 Corporate Responsibility Report

COMMUNITY INTRODUCTION

GOVERNANCE

2023 CORPORATE RESPONSIBILITY REPORT

URBAN EDGE

URBAN EDGE CR REPORT 2023 | 1

APPENDIX GOVERNANCE ENVIRONMENTAL PEOPLE & COMMUNITY INTRODUCTION

INTRODUCTION

04 Letter from the CEO

1. About Urban Edge Properties
2. Our Objectives and Goals
3. 2023 Highlights
4. Our Corporate Responsibility Policy Commitment
5. About this Report
6. United Nations Sustainable Development Goals
7. Corporate Responsibility Oversight and Management
8. Materiality Assessment
9. Stakeholder Engagement

PEOPLE AND COMMUNITY

1. Empowering Social Impact
2. A Commitment to Social Responsibility

1. Building a Culture of Giving

1. Spreading Hope through Partnership
2. Case Study: Cares Committee

1. Building an Inclusive Future
2. Supporting Minority Businesses at Woodmore Towne Centre
3. Building a Thriving Workplace

1. Cultivating Value
2. Revitalizing Communities
3. Case Study: Huntington Commons

ENVIRONMENTAL

1. Achieving Sustainability Goals
2. Emissions Reduction Strategy
3. Sustainability Improvements
4. Sustainability in Practice
5. Case Study: LED Lighting Retrofit
6. Water Conservation
7. White Roofing
8. Mitigating Risks: Climate-related Disclosure
9. Mitigating Risks: Physical Risks

1. Mitigating Risks: Transition Risks
2. Potential Impact of Rising Global Temperatures

GOVERNANCE

1. Board and Governance Oversight
2. Current Board Refreshment
3. Board Composition
4. Cybersecurity and Information Security

APPENDIX

50 External Verification Statement of Data Assurance

1. Forward-LookingStatements
2. Index

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INTRODUCTION

COMMUNITY&

PEOPLE

ENVIRONMENTAL

GOVERNANCE

APPENDIX INTRODUCTION

URBAN EDGE CR REPORT 2023 | 3

LETTER FROM THE CEO

APPENDIX GOVERNANCE ENVIRONMENTAL PEOPLE & COMMUNITY INTRODUCTION

In 2023, Urban Edge continued to make excellent progress in delivering on our Environmental, Social, and Governance objectives. As our Company successfully executed our strategic plan-including robust leasing, financing, and capital-recyclingactivity-we also continued to prioritize fostering a culture where our employees are inspired to fulfill our mission to own and improve retail real estate, while also enhancing the communities we serve. Indeed, our employees are the driving force behind Urban Edge's success.

Our team remains fully committed to extending our strong track record implementing sustainable practices that improve the operating efficiencies of our properties and contribute to the reduction in our carbon footprint. We also are committed to ensuring that we make a positive societal impact on the people and communities where we operate. Toward that end, we are tremendously proud of the positive outcomes that our business practices have generated, whether measured environmentally, socially, or financially.

Our progress is reflected in the results outlined in this report. Among the notable accomplishments in 2023, we implemented policies to reduce greenhouse gas emissions (GHG) emissions, water consumption, and waste recycling. Our volunteer committee, UE Cares, partnered with

local organizations to give back to the communities where we have the greatest impact. We also strengthened our governance practices, including making enhancements to our cybersecurity program.

ENVIRONMENTAL

Reducing Our Carbon Footprint

Sustainability is a key area of focus for Urban Edge. We are committed to making significant and measurable progress toward reducing our greenhouse gas emissions. The recent completion of energy-efficient LED lighting at 100% of the parking lots at our properties is a prime example of executing our sustainability goals. We are thrilled to announce that we have already achieved our goal to reduce our greenhouse gas emissions by 30% as compared to our base year of 2015-one year ahead of schedule. Across our business, we continue to explore and implement innovative solutions to minimize our environmental footprint and contribute to a more sustainable future.

SOCIAL

Supporting People and Communities

Supporting the communities we serve is a core pillar of our corporate responsibility mission, reflected in our comprehensive community-engagement programs. Our UE Cares

committee has been instrumental in fostering a culture of compassion throughout our organization and in spearheading our efforts to give back through dedicated "Giving Days," as well as volunteer opportunities and fundraising events. For example, in 2023, we partnered with several of our open-air shopping center peers to raise awareness for the 988 Suicide and Crisis Lifeline, a national network of local crisis centers that provide free and confidential emotional support

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LETTER FROM THE CEO (cont'd)

APPENDIX GOVERNANCE ENVIRONMENTAL PEOPLE & COMMUNITY INTRODUCTION

to people in emotional distress 24 hours a day, 7 days a week. Our work supporting this important cause was recognized by the International Council of Shopping Centers (ICSC) during the ICSC MAXI Global Awards ceremony, where we were presented with a Gold award for the "Signs of HOPE" intercompany partnership.

At the same time, we are deeply invested in our employees' success, both personally and professionally. Our wellness program includes social programs and training classes throughout the year, and our robust employee benefits continue to have a positive impact on our team. Diversity, Equity and Inclusion continues to be an area where our employees are working together to create and maintain a workplace that promotes collaboration, understanding, and education with a goal of having an inclusive environment.

Urban Edge was once again recognized in 2023 by NJBIZ, New Jersey's leading business journal, as one of the best places to work in New Jersey. In addition, for the first time, we received a "Gold Level" Healthy Workforce Designation from Cigna Healthcare, the highest wellness designation

the organization provides. We look forward to furthering our efforts to maintain a workplace that is valued and enjoyed by employees.

"We are committed to ensuring that we make a positive societal impact on the people and communities where we operate."

GOVERNANCE

Maintaining the Highest Standards

Urban Edge maintains policies and charters that reflect our commitment to proper governance while ensuring we conduct our business according to the highest ethical standards. Our talented and highly engaged Board of Trustees provides oversight and guidance to the Company to ensure strong governance practices are integrated into our overall strategy, including our Corporate Responsibility efforts. Led by the Corporate Responsibility Steering Committee, all UE departments are actively engaged in the development, execution,

and monitoring of the Company's Corporate Responsibility commitments to drive progress effectively and measure and report on our progress. We approach environmental and social performance with the same desire for excellence as we do in our asset and financial management processes.

Building a Sustainable Future Together

Looking ahead, our focus on sustainability, social responsibility, and conducting our business according to the highest standards will continue to be a key component of our strategic plan. We are committed to continuous improvement in all aspects of our operations and remain dedicated to generating favorable outcomes for all our stakeholders, especially the communities we serve.

We look forward to building on the outstanding platform we have in place in the years ahead.

Sincerely,

Jeffrey S. Olson

Chairman and Chief Executive Officer

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APPENDIX GOVERNANCE ENVIRONMENTAL PEOPLE & COMMUNITY INTRODUCTION

ABOUT URBAN EDGE PROPERTIES

LEDGEWOOD COMMONS

Ledgewood, NJ

Urban Edge Properties is a NYSE-listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, D.C.-to-Boston corridor.

Urban Edge owns 76 properties totaling 17.4 million square feet of gross leasable area.

PORTFOLIO DATA

90%

75%

96%

~$27M

OF PORTFOLIO NOI GENERATED IN

OF PORTFOLIO VALUE

SAME-PROPERTY

FUTURE GROSS RENT FROM SIGNED LEASES

THE D.C.-TO-BOSTON CORRIDOR

ANCHORED BY A GROCER

LEASED OCCUPANCY

NOT YET RENT-COMMENCEDas of 3/31/24

FINANCIAL DATA

$166M

$4B CAP

$417M

41%

$20.29

MARKET

ACTIVE REDEVELOPMENT PIPELINE

$2.3B EQUITY

ANNUAL

NET DEBT TO

WEIGHTED AVERAGE ABR

(expected to yield 15%)

$1.7B TOTAL DEBT

REVENUE 2023

TOTAL MARKET CAP

PSF RETAIL PORTFOLIO

as of 3/31/24

as of 3/31/24

as of 3/31/24

Data as of June 2024, unless otherwise noted.

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GOVERNANCE ENVIRONMENTAL PEOPLE & COMMUNITY INTRODUCTION

OUR OBJECTIVES AND GOALS

OBJECTIVES

OUR PLANET

Reduce carbon footprint

Decrease energy and water consumption

Prioritize sustainable building materials and operations

OUR PEOPLE

Promote employee well-being and professional development

Cultivate a diverse and inclusive workforce

Partner with local organizations to address community needs

OUR PRINCIPLES

GOALS

OPERATIONAL

EXCELLENCE

POSITIVE

COMMUNITY

IMPACT

TRANSPARENT

LEADERSHIP

SUSTAINABLE

RETURNS

SUPPORTING

OUR PEOPLE

STAKEHOLDER

ENGAGEMENT

APPENDIX

Maintain the highest standards of corporate governance

Prioritize transparency, ethical business practices, and strong Board oversight

Maintain the highest ethical standards with an unwavering focus on transparency, accountability, and responsible corporate governance.

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& COMMUNITY INTRODUCTION

2023 HIGHLIGHTS	Awarded
	Best
	Places to
	Work in NJ

100%

Parking lot lights upgraded to LED for properties under operational control

+$1.1M	457
Hours
Donated since 2015 2	of volunteer
	work by
	Urban Edge
	employees

APPENDIX GOVERNANCE ENVIRONMENTAL PEOPLE

33%

Reduction in scope 1 and 2 GHG emissions since 2015 1

31%

Water consumption reduction 2022 vs 2023

1. The 2015 baseline was recalculated in alignment with the GHG Protocol's guidance for base year recalculations. Assets acquired after 2015 were incorporated by using the first full year of available data. Assets that were sold or acquired during the reporting year are excluded.
2. Includes monetary and in-kind donations.

+163K kWh

of renewable energy generated from on-site solar

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INTRODUCTION

OUR CORPORATE RESPONSIBILITY POLICY COMMITMENT

We have established a comprehensive Corporate Responsibility/ESG policy that outlines our guiding principles and commitments in areas such as environmental stewardship, social responsibility, and sound governance practices. This policy serves as the foundation for our actions and sets the tone for our Corporate Responsibility efforts.

APPENDIX GOVERNANCE ENVIRONMENTAL PEOPLE & COMMUNITY

1. ENVIRONMENTAL SUSTAINABILITY:

Greenhouse Gas Emissions Targets: Setting aggressive but realistic reduction targets

Energy, Water, and Waste: Improving energy efficiency and waste diversion, conserving water

Climate-related Risks and Opportunities:

Identifying potential climate-related risks and enhancing climate resilience of our assets

Environmental Management System (EMS):

Using the Plan-Do-Check-Act (PDCA) cycle to efficiently manage energy usage, improve energy efficiency, and minimize energy- related costs and environmental impacts

2. PEOPLE AND COMMUNITY:

Community Engagement and Development:

Promoting inclusive retail spaces for diverse communities

Employee and Tenant Health and Well-being:

Prioritizing the well-being of our employees and tenants

Tenant and Supplier Collaboration: Working together on sustainable initiatives and educational programs

Diversity and Inclusion: Fostering an inclusive work environment by promoting equal opportunities and supporting diversity initiatives

Human Rights: Respecting and protecting human rights across our value chain, guided by the United Nations principles and the Civil Rights Act of 1964

3. GOVERNANCE:

Transparency and Reporting: Regularly reporting ESG performance metrics using recognized frameworks (e.g., GRI, SASB)

Stakeholder Engagement: Maintaining open communication with stakeholders and incorporating their feedback into sustainability strategies

Anti-Corruption Measures: Implementing robust policies to prevent corruption and ensure integrity in all business dealings

Board Diversity: Committing to diversity at the board level, ensuring representation of various backgrounds and perspectives

Board Oversight: The Board of Trustees oversees the Corporate Responsibility program with certain initial oversight undertaken by the Board's Corporate Governance & Nominating Committee

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APPENDIX GOVERNANCE ENVIRONMENTAL PEOPLE & COMMUNITY INTRODUCTION

ABOUT THIS REPORT

This report illustrates our commitment to all our stakeholders, including employees, tenants, communities, and investors. It covers the environmental, social, and governance (ESG) activities, performance, and approach for the calendar year 2023, focusing on issues we believe are most crucial for our stakeholders today.

Urban Edge prepared this report with reference to the Global Reporting Initiative (GRI), the United Nations SDGs, and in alignment with the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD) frameworks. This alignment is demonstrated in the respective indices at the end of this report. Unless stated otherwise, all reporting and performance data are limited to information for the owned and operated facilities of Urban Edge.

We disclose program information annually through three primary publications: an Annual Report on Form 10-K, a Proxy Statement, and this report. For more information on our Corporate Responsibility and ESG program, please visit our website.

URBAN EDGE

888 Seventh Ave, 6th Floor New York, NY 10019

212-956-2556 | uedge.com

Reporting Frameworks

Unless otherwise stated, the data in this 2023 Report covers activities from January 1, 2023, through December 31, 2023.

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