June 2019 Green Bond: September 30, 2020 Allocation Report


Sustainability Strategy

As the largest publicly traded developer, owner, and manager of Class A office properties in the United States, we actively work to promote our growth and operations in a sustainable and responsible manner across our five regions. The Boston Properties (BXP) sustainability 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 the communities 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 emissions, and climate change. To that end, we have publicly adopted long-term energy, emissions, water, and waste goals that establish aggressive reduction targets that are aligned with the United Nations Sustainable Development Goals.

BXP and its employees make a positive social impact through charitable giving, volunteerism, public realm investments, and diversity and inclusion. Through our climate action, resilience and social good initiatives, 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

Boston Properties Limited Partnership (BPLP) management is responsible for the completeness, accuracy, and validity of the June 2019 Green Bond: September 30, 2020 Allocation Report, which appears on Page 7. BPLP management asserts that as of September 30, 2020, the net proceeds of $841.4 million from the BPLP June 21, 2019 offering of the 3.400% Senior Unsecured Notes due June 21, 2029 were allocated to the financing and refinancing of previously incurred costs associated with the Eligible Green Projects (as defined below) included in the June 2019 Green Bond: September 30, 2020 Allocation Report, which appears on Page 7.