Paramount Earns 2024 ENERGY STAR® Partner of the Year Award

Rhea-AI Summary

Paramount Group, Inc. (NYSE: PGRE) has been honored with the 2024 ENERGY STAR Partner of the Year Award for its commitment to energy efficiency and sustainability. The company achieved ENERGY STAR labels across 100% of its office portfolio, totaling 11.3 million square feet. Paramount's focus on responsible operations has led to over 165 ENERGY STAR labels historically, showcasing top-tier energy efficiency performance.

NEW YORK--(BUSINESS WIRE)-- Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) is proud to announce that it has achieved the 2024 ENERGY STAR Partner of the Year Award from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy. Paramount was honored among a select group of organizations for the company’s contributions to energy efficiency and the transition to a clean energy economy.

ENERGY STAR award winners are recognized for demonstrating sustainability excellence in their respective industries. This year, Paramount achieved ENERGY STAR labels across 100% of its office portfolio, spanning 11.3 million square feet. The company’s longstanding commitment to ENERGY STAR has yielded over 165 ENERGY STAR labels historically.

Achieving these labels signifies that Paramount’s assets perform within the top 25 percent for energy efficiency when compared to similar buildings nationwide, a testament to Paramount’s focus on responsible operations. To further evolve the company’s sustainability strategy, Paramount has leveraged the ENERGY STAR Tenant Recognition program to encourage collaboration and sustainability best practices at the tenant level.

“We are proud to achieve Partner of the Year for the third consecutive year, distinguishing us as a Sustained Excellence recipient,” said Wilbur Paes, Paramount’s Chief Operating Officer, Chief Financial Officer, and Treasurer. “Our team prides itself on executing a thoughtfully designed energy management program that reduces the environmental impact of our portfolio which resonates with our tenants and stakeholders.”

About Paramount Group, Inc.

Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.

About ENERGY STAR

ENERGY STAR^® is the government-backed symbol for energy efficiency, providing simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Since 1992, ENERGY STAR and its partners helped American families and businesses avoid more than $500 billion in energy costs and achieve more than 4 billion metric tons of greenhouse gas reductions. More background information about ENERGY STAR’s impacts can be found at www.energystar.gov/impacts.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240401610578/en/

Wilbur Paes

Chief Operating Officer,

Chief Financial Officer, and Treasurer

212-237-3122

ir@pgre.com



Tom Hennessy

Vice President, Investor Relations and

Business Development

212-237-3138

ir@pgre.com



Paramount Media Contact:

212-492-2285

pr@pgre.com

Source: Paramount Group, Inc.

FAQ

What award did Paramount Group, Inc. (PGRE) receive?

Paramount Group, Inc. (PGRE) received the 2024 ENERGY STAR Partner of the Year Award.

How much of Paramount's office portfolio achieved ENERGY STAR labels?

100% of Paramount's office portfolio, totaling 11.3 million square feet, achieved ENERGY STAR labels.

How many ENERGY STAR labels has Paramount Group, Inc. (PGRE) received historically?

Paramount Group, Inc. (PGRE) has received over 165 ENERGY STAR labels historically.

What does achieving ENERGY STAR labels signify for Paramount Group, Inc. (PGRE)?

Achieving ENERGY STAR labels signifies that Paramount's assets perform within the top 25 percent for energy efficiency when compared to similar buildings nationwide.

Who is the Chief Operating Officer, Chief Financial Officer, and Treasurer of Paramount Group, Inc. (PGRE)?

Wilbur Paes is the Chief Operating Officer, Chief Financial Officer, and Treasurer of Paramount Group, Inc. (PGRE).