Spirit Realty Capital, Inc. Releases Inaugural Environmental, Social and Governance Report

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Spirit Realty Capital, Inc. (NYSE: SRC) has released its inaugural Environmental, Social and Governance (ESG) Report for 2021, showcasing its commitment to sustainability and responsible practices. The report aligns with Sustainability Accounting Standards Board and Task Force on Climate-related Financial Disclosures. Key highlights include the addition of two female directors to the Board, a focus on diversity and inclusion, and over $200,000 donated to charitable organizations. The report is available on the Company’s website.

Positive

Board oversight formalized for ESG-related items.
40% of the Board is now female after recent appointments.
A robust commitment to diversity and inclusion with a new policy.
Adoption of an Environmental Management System.
Integrated green lease provisions to enhance sustainability.

Negative

None.

03/21/2022 - 04:15 PM

DALLAS--(BUSINESS WIRE)-- Spirit Realty Capital, Inc. (NYSE: SRC) ("Spirit" or the "Company"), a net-lease real estate investment trust ("REIT") that invests in single-tenant, operationally essential real estate, today released its inaugural Environmental, Social and Governance (ESG) Report highlighting the Company’s ESG initiatives in 2021 (the “2021 ESG Report”). Spirit aligned its 2021 ESG Report with the Sustainability Accounting Standards Board and the Task Force on Climate-related Financial Disclosures standards. To support this initiative, the Company engaged third-party sustainability and ESG advisor, HXE Partners.

“I am pleased to present our 2021 Environmental, Social and Governance Report which details our sound ESG-related practices and our commitment to be responsible and conscientious in everything we do as we strive to both drive long-term stakeholder value and make the communities in which we operate a better place to live and work,” stated Jackson Hsieh, President and Chief Executive Officer.

KEY REPORT HIGHLIGHTS

Formalized Board and Board Committee oversight of ESG-related items as reflected in the ESG flow chart located in the 2021 ESG Report
Engaged in active Board refreshment, including the addition of two female directors in 2021, making the Board 40% female
Conducted an enterprise risk management assessment to understand key risks and priorities
Continued focus on diversity and inclusion by establishing a Diversity, Equity and Inclusion Policy
Donated over $200,000 in 2021 to charitable organizations, including those focused on environmental sustainability and diversity, equity and inclusion
Adopted an Environmental Management System to formalize company policies for implementing sound environmental practices throughout the business
Integrated green lease provisions into Spirit’s form lease

Spirit’s 2021 ESG Report is available on the Company’s website at www.spiritrealty.com.

ABOUT SPIRIT REALTY

Spirit Realty Capital, Inc. (NYSE: SRC) is a premier net-lease REIT that primarily invests in single-tenant, operationally essential real estate assets, subject to long-term leases.

As of December 31, 2021, our diverse portfolio consisted of 2,003 retail, industrial and other properties across 49 states, which were leased to 321 tenants operating in 35 industries. As of December 31, 2021, our properties were approximately 99.8% occupied. More information about Spirit Realty Capital can be found on the investor relations page of the Company's website at www.spiritrealty.com.

FORWARD-LOOKING AND CAUTIONARY STATEMENTS

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements can be identified by the use of words and phrases such as “preliminary,” “expect,” “plan,” “will,” “estimate,” “project,” “intend,” “believe,” “guidance,” “approximately,” “anticipate,” “may,” “should,” “seek,” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate to historical matters but are meant to identify forward-looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions of management. These forward-looking statements are subject to known and unknown risks and uncertainties that you should not rely on as predictions of future events. Forward-looking statements depend on assumptions, data and/or methods which may be incorrect or imprecise, and Spirit may not be able to realize them. Spirit does not guarantee that the events described will happen as described (or that they will happen at all). The following risks and uncertainties, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: industry and economic conditions; volatility and uncertainty in the financial markets, including potential fluctuations in the Consumer Price Index; Spirit’s success in implementing its business strategy and its ability to identify, underwrite, finance, consummate, integrate and manage diversifying acquisitions or investments; the financial performance of Spirit’s retail tenants and the demand for retail space, particularly with respect to challenges being experienced by general merchandise retailers; Spirit’s ability to diversify its tenant base; the nature and extent of future competition; increases in Spirit’s costs of borrowing as a result of changes in interest rates and other factors; Spirit’s ability to access debt and equity capital markets; Spirit’s ability to pay down, refinance, restructure and/or extend its indebtedness as it becomes due; Spirit’s ability and willingness to renew its leases upon expiration and to reposition its properties on the same or better terms upon expiration in the event such properties are not renewed by tenants or Spirit exercises its rights to replace existing tenants upon default; the impact of any financial, accounting, legal or regulatory issues or litigation that may affect Spirit or its major tenants; Spirit’s ability to manage its expanded operations; Spirit’s ability and willingness to maintain its qualification as a REIT under the Internal Revenue Code of 1986, as amended; the impact on Spirit’s business and those of its tenants from epidemics, pandemics or other outbreaks of illness, disease or virus (such as the strain of coronavirus known as COVID-19); and other risks inherent in the real estate business, including tenant defaults, potential liability relating to environmental matters, illiquidity of real estate investments and potential damages from natural disasters discussed in Spirit’s most recent filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K for the year ended December 31, 2021 and subsequent Quarterly Reports on Form 10-Q. You are cautioned not to place undue reliance on forward-looking statements which are based on information that was available, and speak only, as of the date on which they were made. While forward-looking statements reflect Spirit’s good faith beliefs, they are not guarantees of future performance. Spirit expressly disclaims any responsibility to update or revise forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.