BRIXMOR PROPERTY GROUP ISSUES ANNUAL CORPORATE RESPONSIBILITY REPORT

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Brixmor Property Group (NYSE: BRX) released its seventh annual Corporate Responsibility Report, highlighting significant achievements across environmental, social, and economic initiatives in 2024. The company achieved a 59% reduction in Scope 1 and 2 greenhouse gas emissions from 2018 baseline, increased renewable energy capacity to 12.5 MW, and converted 98% of its portfolio to LED lighting. Notable accomplishments include maintaining ISS's highest governance score, achieving an 80% tenant satisfaction rating, and stabilizing $1.2B in reinvestment projects since 2016. The company demonstrated strong environmental progress with a 55% reduction in common area water consumption since 2016 and expanded its mentorship program for real estate professionals. CEO James Taylor emphasized the alignment of corporate responsibility with business strategy and long-term value creation.

Positive

• Achieved 59% reduction in Scope 1 and 2 greenhouse gas emissions, surpassing Science-Based Target goal
• Increased renewable energy capacity to 12.5 MW from 11.2 MW in 2023
• Improved tenant satisfaction rating to 80% from 71% in previous survey
• Stabilized $1.2B of reinvestment projects since 2016, up from $1.0B in 2023
• Maintained highest ISS Governance QualityScore of '1'
• Achieved 55% reduction in common area water consumption since 2016

Negative

• None.

NEW YORK, June 12, 2025 /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) ("Brixmor" or the "Company") announced today the release of its seventh annual Corporate Responsibility (CR) Report, which provides a comprehensive overview of the Company's strategy to improve the environmental, social, and economic well-being of its stakeholders, as well as measurements and case studies that highlight Brixmor's progress with respect to its CR goals.

"Our achievements demonstrate the close alignment of our corporate responsibility strategy with our culture and our business," stated James Taylor, Chief Executive Officer. "Through our CR initiatives, we maintain focused on long-term value creation, driven by employee engagement, continual operational and resource efficiency, and our commitment to the stakeholders we serve." 

Notable achievements in each of Brixmor's Corporate Responsibility pillars for calendar year 2024 included:

Our Culture:

• Maintaining the highest score of "1" from ISS's Governance QualityScore, which reviews corporate governance quality and risk across four categories: Board Structure, Compensation, Shareholder Rights, and Audit & Risk Oversight
• Continued progress in early career development of real estate professionals through initiatives including the expansion of the Company's mentorship program
• Recognition as a Top Workplace by the Philadelphia Inquirer for the second consecutive year

Our Properties:

• A 59% reduction in Scope 1 and 2 greenhouse gas emissions compared to the 2018 baseline year, surpassing our Science-Based Target goal, up from a 50% reduction in calendar year 2023
• An increase in on-site renewable energy systems to a total capacity of 12.5 MW of capacity, up from 11.2 MW in calendar year 2023
• The conversion of 98% of the Company's portfolio to LED lighting, up from 96% of the portfolio in calendar year 2023
• A 55% reduction of common area water consumption on a like-for-like basis since 2016, up from 42% in calendar year 2023

Our Stakeholders:

• The stabilization of approximately $1.2B of reinvestment projects since January 1, 2016, up from $1.0B in calendar year 2023
• An overall tenant satisfaction rating of 80% in our 2024 tenant survey, up from 71% in our last survey, conducted in calendar year 2022
• More than 3,300 hours of employee volunteer service in Brixmor's communities

To learn more and read the entire CR report, please visit https://www.brixmor.com/corporate-responsibility.

CONNECT WITH BRIXMOR

• For additional information, please visit https://www.brixmor.com;
• Follow Brixmor on:
  • LinkedIn at https://www.linkedin.com/company/brixmor
  • Facebook at https://www.facebook.com/Brixmor
  • Instagram at https://www.instagram.com/brixmorpropertygroup; and
  • YouTube at https://www.youtube.com/user/Brixmor

ABOUT BRIXMOR PROPERTY GROUP

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 363 retail centers comprise approximately 64 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor's vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a proud real estate partner to over 5,000 retailers including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores.

Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls, webcasts and the "Investors" page of its website at https://www.brixmor.com. The Company also uses social media to communicate with its investors and the public, and the information Brixmor posts on social media may be deemed material information. Therefore, Brixmor encourages investors and others interested in the Company to review the information that it posts on its website and on its social media channels.

SAFE HARBOR LANGUAGE

The presentation referenced in this release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates," or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include, but are not limited to, those described under the sections entitled "Forward-Looking Statements" and "Risk Factors" in our Form 10-K for the year ended December 31, 2024, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the "SEC"), which are accessible on the SEC's website at https://www.sec.gov. These factors include (1) changes in national, regional, and local economies, due to global events such as international military conflicts, international trade disputes, a foreign debt crisis, foreign currency volatility, or due to domestic issues, such as government policies and regulations, tariffs, energy prices, market dynamics, general economic contractions, rising interest rates, inflation, unemployment, or limited growth in consumer income or spending; (2) local real estate market conditions, including an oversupply of space in, or a reduction in demand for, properties similar to those in our Portfolio (defined hereafter); (3) competition from other available properties and e-commerce; (4) disruption and/or consolidation in the retail sector, the financial stability of our tenants, and the overall financial condition of large retailing companies, including their ability to pay rent and/or expense reimbursements that are due to us; (5) in the case of percentage rents, the sales volumes of our tenants; (6) increases in property operating expenses, including common area expenses, utilities, insurance, and real estate taxes, which are relatively inflexible and generally do not decrease if revenue or occupancy decrease; (7) increases in the costs to repair, renovate, and re-lease space; (8) earthquakes, wildfires, tornadoes, hurricanes, damage from rising sea levels due to climate change, other natural disasters, epidemics and/or pandemics, civil unrest, terrorist acts, or acts of war, any of which may result in uninsured or underinsured losses; and (9) changes in laws and governmental regulations, including those governing usage, zoning, the environment, and taxes. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in our periodic filings. The forward-looking statements speak only as of the date of this press release, and we expressly disclaim any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except to the extent otherwise required by law.

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SOURCE Brixmor Property Group Inc.

FAQ

What are Brixmor's (BRX) key environmental achievements in 2024?

In 2024, Brixmor achieved a 59% reduction in Scope 1 and 2 emissions from 2018, increased renewable energy capacity to 12.5 MW, converted 98% of portfolio to LED lighting, and reduced water consumption by 55% since 2016.

How much has Brixmor (BRX) invested in property reinvestment projects?

Brixmor has stabilized approximately $1.2 billion in reinvestment projects since January 1, 2016, up from $1.0 billion in 2023.

What is Brixmor's (BRX) tenant satisfaction rating in 2024?

Brixmor achieved an 80% tenant satisfaction rating in their 2024 survey, improving from 71% in their previous survey conducted in 2022.

What governance score did Brixmor (BRX) receive from ISS?

Brixmor maintained the highest score of '1' from ISS's Governance QualityScore, which reviews corporate governance quality across Board Structure, Compensation, Shareholder Rights, and Audit & Risk Oversight.

How has Brixmor (BRX) improved its energy efficiency?

Brixmor has converted 98% of its portfolio to LED lighting and increased on-site renewable energy systems to 12.5 MW of capacity in 2024, up from 11.2 MW in 2023.