Alexandria Real Estate Equities, Inc. Honored for Sustainable Design in Nareit's Inaugural Sustainability Impact Awards, Highlighting Its Longstanding Operational Excellence at the Vanguard and Heart of the Life Science Industry

Alexandria Real Estate Equities, Inc. (NYSE: ARE), the first, preeminent, longest-tenured and pioneering owner, operator and developer of collaborative mega campuses in AAA life science innovation cluster locations, today announced that it has received a 2024 Sustainable Design Impact Award from Nareit, the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate, for the company's groundbreaking approach to reducing emissions through the use of alternative energy sources for the operation of its highly complex, mission-critical Labspace® developments in its Greater Boston and Seattle markets. This prestigious award recognizes innovative, industry-leading architecture and engineering strategies that reduce environmental impact through smart design, new building development or retrofitting of existing buildings.

"At Alexandria, our strategic corporate responsibility efforts are vital to fostering the holistic life science ecosystems needed to enable the development of new medicines to meet massive unmet medical need, and we are honored to receive this meaningful award from Nareit," said Eleni Reed, senior vice president and head of sustainability at Alexandria. "This important recognition reflects our team's long-term purposeful approach to sustainability and showcases our leadership in driving effective design solutions that will reduce operational greenhouse gas emissions from our laboratory buildings. We remain committed to further advancing our corporate responsibility platform, including by deepening partnerships with our tenants to help them realize their sustainability priorities."

In this new annual awards program, Nareit recognizes projects and programs implemented by its member REITs that demonstrate innovation in sustainable building design and development, operating practices and leadership. A panel of expert judges from outside the REIT industry selected Alexandria for a Sustainable Design Award in an anonymized evaluation of the following areas: measurable impact, innovation, replicability and overall sustainability program.

Notable examples of Alexandria's strategic initiatives to prioritize energy efficiency and utilize alternative energy sources that contributed to receiving the award include two recently completed laboratory development projects in Greater Boston: 325 Binney Street, designed to be the most sustainable laboratory building in Cambridge and home to Moderna's new global HQ and R&D center; and 15 Necco Street, a state-of-the-art, high-performance laboratory facility that houses the Lilly Seaport Innovation Center. These sustainable buildings are targeting energy efficiency exceeding code requirements, reduced fossil fuel use through the implementation of geothermal energy systems and use of 100% renewable electricity, resulting in an estimated 97% and 96% emissions reduction, respectively, relative to the Massachusetts 2020 Stretch Code baseline. Additionally, the energy district at the Alexandria Center® for Life Science – South Lake Union mega campus in Seattle features one of the largest wastewater heat recovery systems in North America. This innovative strategy is expected to provide 70% of the mega campus's heating and is estimated to reduce greenhouse gas emissions by 99% compared to Seattle's average laboratory building.

The Nareit Sustainable Design Impact Award marks the latest in the company's continued recognition for its proactive use of alternative energy in key development projects. Its energy district in South Lake Union was also honored in the Water Stewardship category of the Puget Sound Business Journal's 2024 Environmental and Sustainability Awards and won the Seattle 2030 District's 2024 Vision Award for Energy; and its development of 325 Binney Street earned a Cambridge Chamber of Commerce 2023 Visionary Award.

To learn more about Alexandria's industry-leading corporate responsibility program, see the company's 2023 Corporate Responsibility Report.

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