SHAPING TOMORROW TOGETHERREPORT FY23

AIRTRUNK.COM

CONTENTS

Sustainability Report FY23

2

Introduction

Planet04. Message from Founder & CEO    and Board Chair
05. About the Report
06. About AirTrunk

21.
22.
26.
32.
36.

Sustainability
Approach
08. FY23 Achievements
09. Our Materiality
10. Our Commitments
12. ESG Governance
13. ESG Integration
14. Open Dialogue with Stakeholders
15. Our Targets and Performance
18. Addressing Climate and Nature    Related Risks and Opportunities
19. Our Commitment to   Sustainable Financing

In Conversation with CTO
Energy Management
Carbon Management
Water Stewardship
Waste Management

People40. Environmental Health and Safety
45. Talent Development, Diversity,
Equity, and inclusion (DEI)
51. Community Impact
55. Cyber Security and Data Protection

Acknowledgement of Country
AirTrunk acknowledges the Traditional Owners ofCountry, and recognises their continuing connection
to land, water and community. We pay our respects
to their Elders past, present and emerging.

Progress
59. Innovation
63. Customer Sustainability
66. Sustainable Supply Chain
69. Transparency, Business Ethics   
and Integrity

AppendicesAcknowledgement of Stakeholder Support
AirTrunk would like to thank the broad and diverse
range of stakeholders who contributed ideas andcomments in the development of this report.

73. Sustainability Data
79. GRI Content Index
88. EY Assurance Report

We welcome any feedback and insights about oursustainability strategy and reporting. Please directthese to info@airtrunk.com.

3

INTRODUCTION

Sustainability Report FY23

Introduction

Sustainability Approach

MESSAGE FROMFOUNDER & CEO
Over the past year, the accelerationof cloud services, artificial
intelligence (AI) and machinelearning has led to increased
demand for hyperscale data centres
which, due to their scale, are bestplaced to carry the capacity and
IT load required to support thesetechnologies.
As one of the largest hyperscaledata centre operators in AsiaPacific & Japan, we are enabling
this growth and deeply commit todoing so sustainably. As we strive
towards our vision of continuallyredefining and delivering thehyperscale data centres oftomorrow, we are also committed
to re-imagining how AirTrunk, andthe data centre industry, can build amore sustainable future.
We are proud to have demonstrated
this in FY23 with a range ofinnovations and achievements, andplanned initiatives to further thiscommitment into the future. This
includes innovating in our energy
management, carbon management,water stewardship and sustainablefinancing to ensure responsible
growth for our customers,
communities, stakeholders,investors and people.

Net Zero Progress
In FY22, we announced ourcommitment to Net Zero emissions
by 2030 and are delighted to be
sharing our progress with you. Our
approach to Net Zero is focusedon customer collaboration,accountability and transparency
and in the last year we haverolled out a number of initiatives
including signing a first-of-itskind renewables solution with
Microsoft in Hong Kong; committing
to an industry-first carbon usage
effectiveness target in our corporate
sustainability linked loan (SLL); andcontinuing to lower our power usage
effectiveness (PUE) as we progress
toward a Net Zero future.

Promoting Circularity

PlanetPeopleAppendices

MESSAGE FROMOUR CHAIR
At AirTrunk, we have circularity
frameworks in place to promoteresponsible resource management,
and positive social impact. We willcontinue to focus our efforts in thisarea in the years to come.

Looking to the Future
A sustainable future for ourplanet can only be achieved withstrong stakeholder collaboration.
Continuous improvement is vitalto ensure we respond to macrochanges and maintain a long-termclimate view.
We look forward to continuing towork with the industry toward astronger and more resilient future.
Thank you for your ongoing support.

This year, AirTrunk has continued to increase its efforts in driving
positive change with respect to sustainable action, accountability,
and transparent reporting.
The achievements highlighted in this FY23 Sustainability Report
are innovative, progressive and are creating real change in theindustry. Of particular note, is AirTrunk’s efforts in sustainablefinancing that is ensuring responsible growth across the region,
as well as its progression of the Asia-Pacific & Japan energy
transition.
AirTrunk has also worked alongside all its stakeholders, to increaseaccountability and transparency in its reporting, something which
has been made possible because of trusted relationships enjoyedwith staff, customers, communities and peers.
Importantly, AirTrunk’s sustainability journey remains underpinned
by a deep commitment to the safety and wellbeing of its people.
On behalf of the AirTrunk Board, I congratulate Robin and thebroader AirTrunk team on their achievements that continue topower positive change and drive the industry forward as we lookforward to continuing our contribution to building a safer, moresustainable future for all.

An important driver to ensuresustainable operations acrossour business is our focus onenvironmental and social circularity.
We must apply circular economy
principles not only to materials
and resources but also to reinvest
value into our wider ecosystem andtowards communities.

Progress

Robin Khuda

Founder and CEO

Ani Satchcroft

Head of Infrastructure ANZ,
Macquarie Asset Management

4Sustainability Report FY23

ABOUT THEREPORT
Since 2021, AirTrunk has been reporting
its sustainability targets and performancethrough its annual Sustainability Report.
Our voluntary annual disclosures affirm ourongoing commitment to ensuring sustainable
practices and operations across our company.
This report covers our activities in thefinancial year 1 July 2022 to 30 June 2023
(FY23) and outlines the environmental, socialand governance (ESG) strategy, initiatives,and performance material to AirTrunk and its
stakeholders. It was published on 25 October
2023.
This report is recommended to be read
together with the FY23 Climate and NatureRelated Risks Report, the sustainability
section on our corporate website, as
well as additional annexes including the
Sustainability Data, which summarises oursustainability indicators, the GRI Content
Index, and the EY assurance statement.
Together, these provide a comprehensive viewof AirTrunk’s sustainability efforts.

Introduction

Scope and Boundaries
The report covers operations wholly owned anddirectly managed by AirTrunk, including offices
and data centres in Australia, Singapore,
Japan, Hong Kong, and Malaysia, unlessotherwise stated. This year, we expanded ourreporting scope to include JHB1 in Malaysia
and HKG2 in Hong Kong which were bothannounced in FY23. The reporting scope under
Planet consists of AirTrunk data centres andoffices operational when referring to at least
12 months except for Scope 3 emissions which
includes all sites under development.
Due to a change in methodology in FY23,
restatements were made for FY21 and FY22
figures under Talent Development, Diversity,
Equity and Inclusion.

Alignment with Global ReportingStandards
This report has been prepared in accordancewith the Global Reporting Initiative (GRI)
Universal Standards 2021. The GRI Content
Index can be found here.
This report also makes reference to global
reporting standards and frameworks suchas the UN Sustainable Development Goals(SDGs), Sustainability AccountingStandards Board (SASB), CDP, Global Real
Estate Sustainability Benchmark (GRESB),
Task Force on Climate-Related Financial
Disclosures (TCFD), Taskforce on NatureRelated Financial Disclosures (TNFD) andNational Greenhouse and Energy Reporting(NGER).

Sustainability Approach

COUNTRY

NAME

PlanetPeopleProgress

OPENING

Australia

Singapore

Hong KongJapan

Malaysia

Sep 2017

MEL1

Nov 2017

SYD2

Mar 2021

SYD3

Under development

SYD-HQ

April 2018

SGP1

Dec 2020

SGP-HQAug 2019

HKG1

Dec 2020

HKG2 NEW

Under development

TOK1

Oct 2021

TOK2

Under development

TOK-HQAug 2021

JHB1 NEW

Under development

5

FY23 REPORTING SCOPE

PLANETSYD1Appendices

PEOPLEPROGRESS

-

NEW

NEW

-

External Assurance

Feedback

Ernst & Young was engaged to independently
assure selected sustainability information
including Scope 1, 2 and select Scope 3
emissions as well as carbon offsets. The
Independent Limited Assurance Report can beread here.

We welcome any feedback and suggestions on
this report to further improve our sustainability
performance.
Please direct these to info@airtrunk.com

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetTHE HOME OF HYPERSCALE
IN ASIA-PACIFIC AND JAPANPeopleAppendices6

TOK1, TOK2*

2

About AirTrunkFounded in 2015, AirTrunk is a
hyperscale data centre specialist
creating a platform for cloud,content, and large enterprisecustomers across the Asia-Pacificand Japan (APJ) region. AirTrunkdevelops and operates data centre
campuses with industry leading
reliability, technology innovation,and energy and water efficiency.

Progress:

HKG1, HKG2*

2

JHB1*
SGP1

Data Centred in APJ

COMPANY PROFILE

AirTrunk is headquartered in
Sydney, Australia with regional
headquarters in Singapore andTokyo, Japan.

Company name

AirTrunk

Founded2015

Founder & CEO

Robin Khuda

AirTrunk’s data centre platform
currently spans 10 facilities
across six cities and five markets– Australia, Singapore, Hong Kong,Japan and Malaysia.

Company address

AirTrunk Head Office
Level 11, 1 Pacific Highway,
North Sydney, NSW, Australia, 2060
Singapore Head Office
18 Robinson Road, Level 23-01,
Singapore 048547

AirTrunk provides the only
dedicated hyperscale data centre
platform in all Tier 1 markets
throughout the region.

MEL1

SYD1, SYD2, SYD3*Japan Head Office
E-Space Tower, 3-6 Maruyamacho,
Shibuya-ku, Tokyo150-0044
Total platform capacity

1.38 GW(at 30 June 2023)* Under development

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

SUSTAINABILITY
APPROACH

7

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

SUSTAINABILITY
FY23 ACHIEVEMENTS
PLANETPEOPLEPROGRESS Committed to Net Zero by 2030 for Scope 1 and Scope 2
emissions.

 Achieved over two million hours worked with zero LTIs across
our construction projects.

 Grew our APJ data centre platform to1.38 GW, the largest in
the region.

 Achieved operating PUE of 1.32 and set ambitious long-term
stabilised target of 1.23-1.28.

 Achieved Total Recordable Incident Rate (TRIR) of 0.32 well
below Australian benchmark of 2.6.

 Announced two new data centres - JHB1 (150+ MW) and
HKG2 (15+ MW).

 Launched renewable energy solution in HKG1 with data
centre electricity consumption hourly matching with local
renewable energy certificates (RECs) awarded a 2023
Renewable Energy Markets (REM)™ Asia Award.

 100% of operational data centres and head offices certified
ISO 45001, ISO 9001 and ISO 14001.

 Linked 100% of our A$6b debt financing platforms to ESG,
making AirTrunk one of the largest issuers of sustainablefinancing in the data centre industry.

 60% of electricity consumption matched with renewables in
FY22 through AirTrunk and customer procurement (data madeavailable in FY23).

 Established community programs in 100% of markets where
our data centres have been operating for more than
12 months.
 Recognised as a “Great Place to Work in Australia”.

 Launched 24/7 paper to build momentum towards achieving
24/7 clean energy in APJ.

 Increased number of women in leadership positions from 25%
in FY22 to 30% in FY23.

 Developed water strategy aligned to CNDCP1 to ensure thesustainable and productive use of water at our data centres.

 Supported the development of STEM students across Sydney
and Singapore, including 30% female representation ininternship cohorts.

 58% of all water consumed at our operating sites is recycled.
 Joined the ‘Open Call to Accelerate Action on Water’ as acommitment to build water resilience across operations andsupply chains.

1 CNDCP refers to Climate Neutral Data Centre Pact.
2 Refer to Sustainable Financing section for more details.

 100% of employees completed the information security
awareness training.
 Zero reportable cyber security incidents and up to 65 million
cyber events triaged per month.

 First SLL to combine carbon, energy and water usage
effectiveness as loan KPIs.2
 Achieved average customer satisfaction rating of 9/10 or‘extremely satisfied’ across our customer satisfaction surveys.
 First data centre to join the TNFD Forum as a supporter andpublished inaugural FY23 Climate and Nature-Related Risks
Report.
 Maintained Digital Transformation Agency (DTA) certified
strategic facility status.
 Achieved high scores in public sustainability disclosures,
including 5-STAR GRESB score, B CDP score and Platinum
EcoVadis medal.

8

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

OUR
MATERIALITY
Our Material Assessment

AirTrunk’s Materiality Matrix

Each year, we review our materiality topics to ensure AirTrunk captures any
existing and emerging ESG risks and opportunities that matter most to ourbusiness and key stakeholders.

The Corporate Sustainability teamconducts a materiality review
considering the landscape of
stakeholder expectations, risks,and opportunities, and aligning theresults with global sustainability
standards such as the Global
Reporting Initiative (GRI) Standards,
the UN Sustainable Development
Goals (SDGs) and the Sustainability
Accounting Standards Board(SASB).

Energy Management
Carbon Management
Water Stewardship
Environmental Health and Safety
Cyber Security and Data Protection
Customer Sustainability
Transparency, Business Ethics, and Integrity

C. Management andBoard Review
All the topics are tested with key
internal and external audiencesfor validation and documented on
our materiality matrix classified
as critical, very important,and important. In FY23, all the
proposed revisions were presented,
discussed, and validated by theManagement and the Board.

Importance to stakeholders

A. External Benchmark

CRITICAL

VERY IMPORTANT
Sustainable Supply Chain
Innovation

B. Internal Evaluation
Our Sustainability Committee isinvited to share feedback basedon existing stakeholders’ priorities
and long-term sustainability plan.
Emerging topics are also discussed
and prioritised based on strategic
importance to the business, and its
social, economic, and environmental
impact in our value chain.

IMPORTANT
Waste Management
Community Impact
Talent Development, Diversity, Equity and Inclusion

Impact on the economy, environment and people

PLANETPEOPLE* Critical: Topics of priority importance that require consistent focus and action.
** Very Important: Topics of high priority to be proactively managed to ensure long-term sustainability.
*** Important: Topics that are relevant and meaningful to be monitored and managed carefully.

PROGRESS

9

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

OUR SUSTAINABILITYCOMMITMENTSIn FY23, we defined new commitments in line with our mission:

Reimagine, build, and operate the earth’s most sustainable and circular data centres,
which care about the community, and protect nature and the environment.

PLANETPEOPLEPROGRESS

Energy Management

Environmental Health And Safety

Innovation

Carbon Management

Talent Development, Diversity, Equity
and Inclusion

Customer Sustainability

Water StewardshipCommunity Impact

Sustainable Supply Chain

Waste Management

Cyber Security and Data Protection

Transparency, Business Ethics, and Integrity

Achieve best-in-class operating PUE across APJ, andmatch 100% of electricity consumption at sites withrenewable energy together with our customers by
2030.

Achieve Net Zero emissions by 2030 for all Scope 1
and 2 emissions, and work towards further measuring
and addressing emissions from embodied carbon.

Optimise water productivity through water strategies
across all sites and source sustainable supply to all
campuses.

Minimise waste generation in the development andoperation of our data centres and improve circularityand diversion rate across all sites.

Achieve leading safety performance globally throughempowered people, enabled systems and engaged
leaders building a culture of safety resilience ineverything we do.

Upskill talent and develop leadership capabilities
across the workforce while embedding diversity,
equity and inclusion in all our regions.

Amplify positive impact in the communities we
operate in with a focus equal digital access, STEM
education and biodiversity and conservation.

Ensure a best-in-class control environment that
ensures the availability of operational technology andprotects data.

Pioneer innovations to create scalable opportunities
for sustainable growth across APJ.

Work in partnership with our customers to drive
sustainable solutions and consistently highsatisfaction.

Maximise sustainable impacts through resilient andresponsible supply chain practices and partnerships.

Act ethically, with integrity, and accountability in all
business activities.

10

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices11

OUR
PLEDGESAt AirTrunk, we support pledges that strengthen global climate action
efforts, foster partnerships, and deepen collaboration and empower
everyone to participate in the transition to a sustainable economy.

UNGC participant

Carbon Call member

24/7 Carbon Free
Energy signatory

OUR
ESG SCORES

Platinum
EcoVadis medal

B Score5-STAR GRESB rating#1 data centre on the
global benchmark

TCFD supporter

MDCAP signatory

TNFD supporter

Open Call to
Accelerate Action on
Water supporter

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

12

The Head of Sustainability
chairs the Sustainability
Committee, which comprises
senior representatives wholead the delivery of ourPlanet, People and Progressinitiatives and engage in ESG
working groups.

BOARD OF DIRECTORSStrategymateriality, targets,
performance review
and disclosures

EHS, CONSTRUCTION ANDRISK COMMITTEE (ECRC)PEOPLE AND CULTURE COMMITTEE

Sustainability
linked financing
and ESG KPIs

SOCIAL IMPACTOVERSIGHT COMMITTEEAIRTRUNK MANAGEMENTCOMMITTEE

Alongside the Board,
the Chief Financial andCommercial Officer oversees
AirTrunk’s sustainability
strategy and ensures ESG is
successfully embedded into
strategies and day-to-day
decisions at AirTrunk.

ESG WORKINGGROUPS

Our Board of Directors haveultimate responsibility andaccountability for AirTrunk’s
sustainability strategy,
priorities, and performance.

BOARD ANDCOMMITTEESESGGOVERNANCE

ESG KPIs for
Executives

ESG-linked shortand long-term
incentives

Environmental
Health and Safety
performanceEnterprise Risks,
Climate andNature-Related
Risk Management

CHIEF FINANCIAL AND COMMERCIAL OFFICER (CFCO)

Social impact fundgovernance

HEAD OF SUSTAINABILITY

AIRTRUNK SUSTAINABILITY COMMITTEECORPORATESUSTAINABILITY
Integration ofsustainability across
AirTrunk

ESG WORKING GROUPS

Energy,water andwaste

Net Zero andembodiedcarbonInnovation

TCFD &
TNFD

DEI

EHS

Sustainableprocurement

Sustainablefinance

SocialimpactSustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices13

ESG INTEGRATIONACROSS AIRTRUNKSOCIAL IMPACT

Examples of how ESG is embedded across our operations include:

FINANCE We support long-term initiatives
aligned to AirTrunk’s purposeto scale and sustain APJ’s
digital future. Go to Community
Commitment | AirTrunk.

SITE SELECTION

 Diversity, equity and inclusion
are considered across every
aspect of our people strategy.
We focus on creating an
inclusive environment where
everyone feels welcome.
Go to Life | AirTrunk.

 100% of AirTrunk’s debt financing
platforms are linked to ESG
KPIs to power positive industry
change and create a lasting
impact in our communities. Go to
Sustainable Finance | AirTrunk.

PEOPLE & CULTURE

 Environmental and social
assessments are conductedto ensure we minimise
negative impacts during
development and operations.

OPERATIONS Energy efficiency performance ismonitored and reported againstsustainability goals, design
intent, customer utilisationand contract commitments on
efficiency.
 Technology environment isstrengthened and secured
enforcing end-to-end protectionof customer data.

DESIGN AND INNOVATION Our innovative designs andgreen infrastructure maximise
energy and water efficiency,
reducing embodied carbon, andcreating net positive impacts tothe wider ecosystem.

OWNER SUPPLIED EQUIPMENT(OSE) PROCUREMENT Engage with OSE suppliers that
support AirTrunk’s green data centres
ambitions and long-term growth.
 Focus on lowering overall OSE
carbon footprint.

GENERAL CONTRACTORS(GC) SELECTION GCs are measured and graded on their ESG
principles and business ethics during
pre-qualification. They should demonstrateexamples of their ESG credentials and showplanned initiatives that optimise resources, social
impact and minimise environmental impacts.

CONSTRUCTION Sustainability and EHS performance are monitored throughout theconstruction project.
 Delivery partners are actively engaged on training, coaching,mentoring and oversight to maintain safe working environments.
 Embodied carbon studies are undertaken to identify opportunities
to further reduce footprint and reuse/recycle materials.

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

OPEN DIALOGUE WITH STAKEHOLDERS
It is important that we consult with external stakeholders to inform our sustainability strategy. This includes determining mutually beneficial outcomes.

STAKEHOLDER

HOW WE CREATE VALUE

KEY ACHIEVEMENTS

CUSTOMERS

We consistently engage with our customers through a variety of communication channels to createa dynamic, responsive, and tailored customer experience. By actively listening to their needs andpreferences, we strive to exceed expectations and foster long-term customer loyalty.

 Achieved 9/10 ‘extremely satisfied’ customer satisfaction score.

EMPLOYEES

Our success is powered by our dedicated and talented people. We foster an environment thatencourages everyone to contribute, and where everyone feels they belong. It helps to promote bettermental health, reduces stress, and improves productivity, setting the platform for success.

 95% of employees stated they are proud to work for AirTrunk in ourEngagement Survey 2023.
 Achieved 37.8% company-wide representation of women in FY23.

INVESTORS

We build trust through transparent and timely communication with our investors. We provide
comprehensive updates on our business and sustainability performance, fostering a strong
partnership that ensures common understanding and alignment with our goals.

 >A$6b in ESG-linked financing.
 Second Party Opinion (SPO) verifies the credibility of our ESG-linked
targets and all the KPIs selected before issuance.
 Annual independent assurance is conducted on KPIs performanceagainst yearly targets.

BUSINESSPARTNERS

We foster trusted relationships with our partners, regularly engaging them to collaborate on
industry-leading services while meeting our environmental and social responsibilities. Ourcommitment to transparency and engagement ensures shared values and sustainable results.

 Active industry memberships across our markets.

GOVERNMENT
AND REGULATORS

We actively engage with government agencies and regulators and work closely with them tocontribute to national goals and drive economic progress. Through our commitment to transparency
and compliance, we aim to raise industry sustainability standards and promote responsible
business practices.

 Participated in 15+ industry panels.
 Submitted four responses to public consultation on
climate-related topics.

SUPPLIERS

We prioritise social responsibility and maintain a sustainable supply chain through close
partnerships with our suppliers. Our selection process follows a rigorous procurement policy andpre-qualification procedures. We ensure compliance with our Supplier Code of Conduct and other
AirTrunk policies, including those focused on human rights and workers’ health and safety, topromote fair competition and shared success.

 Screened 92% of existing and 100% of new strategic development
suppliers through the newly developed Supply Chain Assurance(SCA) Program.
 Launched Supplier Relationship Management (SRM) Program thatenables a stronger focus on ESG and Innovation.

COMMUNITIESWe are committed to creating a sustainable and positive social impact in the markets in which we
operate. This includes creating jobs, fostering digital development, investing in the community andactively engaging to contribute to the growth and wellbeing of local communities. We also prioritise
local employment and procurement to support local economies and build long-term partnerships.

 Established community programs in 100% of markets where our data
centres have been operational for 12 months.
 175+ AirTrunkers participated in community engagement programs
across 12 selected non-profits and charities.

14

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

OUR TARGETS
AND PERFORMANCEIn the spirit of transparency, we openly share our progress, regardless of the level of achievement. AirTrunk is committed to consistent and meaningful public disclosure of our sustainability progress
supporting the United Nations SDGs.

MATERIAL TOPICOUR COMMITMENTTARGETSFY23 PERFORMANCEFIND OUT MORE

Energy Management

 Achieve best-in-class operating
PUE across APJ, and match 100% ofelectricity consumption at sites withrenewable energy together with ourcustomers by 2030.

 Maintain annual average operating
PUE within the AirTrunk PUE bandwith the long-term goal of achieving
1.23-1.28 annual average operating
PUE as AirTrunk portfolio stabilises.
 Achieve 100% renewable energy
matching by 2030 through AirTrunkand customer procurement.

 Portfolio average annual operating PUE for FY23 is 1.32.
 Operating portfolio is now linked to an annual operating PUE
KPI as part of our sustainable financing.
 60% of electricity consumption matched with renewable in
FY22 and verified in FY23 through AirTrunk and customer
procurement.
 Signed first-of-its-kind renewable energy solution in HongKong.

pg. 22 →Carbon Management

 Achieve Net Zero emissions by 2030
for all Scope 1 and 2 emissions, andwork towards further measuring
and addressing emissions fromembodied carbon.

 Achieve Net Zero for all Scope 1
and Scope 2 emissions by 2030 andreport our Scope 3 emissions.
 Ensure that 100% of electricity
consumed at AirTrunk sites issourced or matched with renewableenergy electricity by 2030.

 Linked Carbon Usage Effectiveness (CUE) targets to our SLL.
 Scope 1: Completed a review on reduction from the use of
low Global Warming Potential (GWP) refrigerant.
 Scope 2: Signed new renewable energy contracts andprogressed work with customers that control energy
procurement, verifying their own matching with renewableenergy.
 Scope 3: Implemented embodied carbon modelling for all
new data centre developments.

pg. 26→

Water Stewardship Optimise water productivity throughwater strategies across all sites
and source sustainable supply to all
campuses.

 Reduce upper threshold of water
stress limit by at least 0.1 for all
water stress classifications by 2030.

 Joined the ‘Open Call to Accelerate Action on Water’.
 Portfolio WUE increased from 0.84 to 0.94. The increase isdriven by significant capacity ramp up across SGP1 andHKG1.
 WUE reduction of 16% across Australian portfolio from FY22.
 58% of all water consumed at our operating sites is recycled.

pg. 32 →Waste Management

 Minimise waste generation in thedevelopment and operation of ourdata centres and improve circularityand diversion rate across all sites.

 100% of data centres zero-waste
certified* by 2030.
 100% of data centres* reporting on
diversion rate by 2025.

 Identified and assessed all types of waste that leave SGP1
and MEL1, and enhanced waste transparency and reporting.
 Progressed toward ‘UL Zero Waste to Landfill’ certificationfor SGP1 and MEL1.

pg. 36 →* within 24 months operation

15

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

MATERIAL TOPICOUR COMMITMENTTARGETSFY23 PERFORMANCEFIND OUT MORE

Environmental Healthand Safety

 Achieve globally leading safety
performance through empowered
people, enabled systems andengaged leaders building a cultureof safety resilience in everything
we do.

 Maintain a safety culture survey
result above global benchmarks.
 Maintain ISO 14001 & ISO 45001
certification across 100% of ouroperational data centres.

 Safety culture survey above Australian benchmark.
 ISO 45001 certification maintained across 100% of ourfacilities.
 ISO 14001 achieved for 100% of facilities.
 Critical Risk Management Program implemented within
Development Projects.
 0 regulatory notices issued.

pg. 40 →Talent Development,
Diversity, Equity
and Inclusion

 Upskill talent and develop
leadership capabilities acrossthe workforce while embedding
diversity, equity and inclusion in all
our regions.

 Achieve 35% company-wide
representation of women by 2025
and 40% by 2030.
 Maintain an annual engagement
survey participation of 90% orabove.

 Increased company-wide representation of women to
37.8% 1.
 Achieved 54% women representation of new hires in FY23.
 AirTrunker engagement score maintained above average at82%, up 1% from FY22, with 97% survey participation rate.

pg. 45 →Community Impact

 Amplify positive impact in thecommunities we operate with afocus on equal digital access, STEM
education and biodiversity andconservation.

 Establish funding platform for social
impact initiatives in APJ by 2024.

 Supported causes in 100% of our markets that have been
operational for at least 12 months.
 175+ AirTrunkers participated in community engagement
programs across 12 selected non-profits and charities.

pg. 51 →Cyber Security andData Protection

 Ensure a best-in-class control
environment that ensures
the availability of operational
technology and protects data.

 100% sites in compliance with all
relevant international standards
including ISO 27001, SOC2, PCI-DSS,
and financial auditing standards.

 No customer reportable data breaches were experienced in
FY23.
 100% of staff completed FY23 data security training on
confidentiality and data protection.
 Compliance maintained with all relevant international
standards.

pg. 55 →16

1 Note 37.8% is as of 30 June 2023. As of 30 September, the gender ratio had further reduced to 36.1%. The primary drivers for this reduction being natural attrition and new hires in geographies where availability of diverse talent is limited, and   AirTrunk’s brand isn’t yet established — therefore hiring strategies are not yet as effective. AirTrunk has further headcount approved for these geographies / sectors which may see further pressure throughout FY24. Given the total size of AirTrunk’s   workforce this level of volatility is natural over any 12-month period. Note 36.1% includes leavers, accepted offers and new starters.

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

MATERIAL TOPICOUR COMMITMENTTARGETSFY23 PERFORMANCEFIND OUT MORE

Innovation

 Pioneer innovations to create
scalable opportunities forsustainable growth across APJ.

 Release at least one whitepaper orstudy annually and engage with key
industry stakeholders to drive ESG
conversations.

 Conducted a pilot to explore the potential for circularities inour existing campus in SYD1.
 Assessed the design implications of integrating batteryenergy storage systems within our campuses.
 Pioneered the development of AI-ready data centres in APJ[refer to case study].

pg. 59 →Customer Sustainability Work in partnership with ourcustomers to drive sustainable
solutions and consistently highsatisfaction.

 Maintain minimum 8/10 overallcustomer satisfaction.
 Develop a minimum of one
sustainable solution in partnershipwith customers across Planet,
People or Progress topics.

 Met 100% customer key commitments for projects andservices.
 Maintained high customer satisfaction levels throughout
APJ with 9/10 overall customer satisfaction and positive
annual growth rates in MW sold.
 Partnered with customers to implement major sustainable
solutions in APJ.

pg. 63 →Sustainable Supply Chain

 Maximise sustainable impacts
through resilient and responsible
supply chain practices andpartnerships.

 100% of AirTrunk suppliers
screened through SCA program by2025.
 100% of Strategic suppliers
engaged through the SRM programby 2025.

 Screened 92% of existing and 100% of new strategic
development suppliers through the newly developed SCA
Program.
 Initiated SRM Program to enable a stronger engagement on
ESG and Innovation.
 Implemented a type III environmental product declaration
clause for all OSE category specification.

pg. 66 →Transparency, Business
Ethics and Integrity

 Act ethically, with integrity, andaccountability in all businessactivities.

 Conduct a corporate governancereview and implement key
recommendations by FY24.
 Maintain ESG transparency andaccountability following global bestpractices.

 Achieved Platinum EcoVadis medal performance, CDP B
Score and GRESB 5-STAR results.
 Published FY23 Climate and Nature-Related Risks
Report outlining our commitments to managing climate
and nature-related risks and opportunities. Launched
Community Commitments and Sustainable Finance pages
on our corporate website for increased transparency andaccountability.

pg. 69 →17

Sustainability Report FY23

Introduction

Sustainability Approach

ADDRESSING CLIMATE AND NATURE-RELATEDRISKS AND OPPORTUNITIESIn FY23, AirTrunk uplifted its Taskforce on
Climate-Related Financial Disclosures (TCFD)
commitment by quantifying the financial
impact of a range of risks and opportunities.
Additionally, AirTrunk conducted a pilot testof the Taskforce on Nature-Related Financial
Disclosure (TNFD) (v.4) to better understandour impacts and dependencies on nature andmanage the related risks and opportunities.

A. TCFD Quantitative Scenario Analysis
Since performing our first TCFD aligned
assessment in FY22, AirTrunk has madesignificant progress by quantifying climate
risks and opportunities. AirTrunk focusedon areas within the value chain that could
have the most impact on our ability to deliver
additional value to our stakeholders andreduce material risks to our operations.
The scope of analysis included:
 Identifying measures to improve resiliencein water-stressed regions and at the sametime taking steps towards developing ourwater stewardship strategy.
 Defining approaches to strengthencommunity relationships and engagementwith a range of stakeholders.
 Developing risk mitigation measures toensure AirTrunk’s ability to deliver on our
Net Zero commitments across its Scope 1
and 2 emissions by 2030. Notably, AirTrunkfocused on ensuring customers cantransition to 100% renewable energy by2030 with AirTrunk’s help.

B. TNFD Pilot Assessment
AirTrunk aims to start embedding climatenature nexus considerations early in our
climate action, Net Zero, carbon offsetting,and local community engagement planningand response process. In FY23, we conducteda pilot implementation of the TNFD’sframework on one of our data centres to: Gain a first understanding of theinteractions between AirTrunk’s businessand nature from a value chain perspective
and build the experience to conduct
similar exercises across our portfolio.
 Conduct knowledge sessions on the TNFD
with senior management and other key
stakeholders.
 Actively participate in building a stronger
framework for nature by providing
feedback to the TNFD.
Refer to FY23 Climate and Nature-Related
Risks Report for more details.

PlanetPeopleProgress

Appendices18

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleOUR COMMITMENT TOSUSTAINABLE FINANCINGIn FY23, AirTrunk continued to
set standards in sustainablefinancing and successfully linked
100% of its financing platforms
to ESG commitments.
In addition to our A$2.1b
corporate SLL announced in
2021, we also announced anumber of sustainable financing
loans in Japan, a market in which
we continue to rapidly expand.
This includes: A landmark green loan tofinance the development of
TOK2. The loan, which wasannounced in September
2022, was the first for a data
centre in Japan and first touse eligibility criteria basedon operating PUE and waterproductivity.
 A ~A$650m SLL to financea significant expansion of
TOK1. Announced in March
2023, this SLL was the first fora data centre in Japan, andthe first in APJ to combine
operating energy and water
efficiency as KPIs.

1 From publicly known transactions.

Redefining Industry
Standards
In August 2023, AirTrunkannounced the refinancing of its
SLL to A$4.6b , more than doubling
the initial ~A$2.1b loan. The SLL
has set industry benchmarks insustainable financing including
being the largest SLL for a data
centre operator globally whilst
also committing to a number ofinnovative and new KPIs.
The KPIs established as part ofthis SLL include Carbon Usage
Effectiveness (CUE), operating
PUE, operating WUE, gender
diversity and gender pay equity.
It is the first SLL to utilise a CUE
metric, and therefore the firstto combine CUE, WUE and PUE1
ensuring the highest level ofenvironmental transparency andaccountability for a data centre
operator. The SLL also represents
the first publicly known financing
by a data centre company toincorporate a gender pay equity
target, reflecting AirTrunk’scommitment to diversity, equity
and inclusion.

AirTrunk has now raised over A$6bin ESG financing, making it one of
the largest issuers of sustainablefinancing in the data centre
industry.

“AirTrunk has
pushed establishedboundaries ofunderstanding whatsustainability means
for the data centre
industry globally,and has cemented
its leadership as themost sustainable
data centre operator
in the world.”
Kalpana Seethepalli
Director of ESG, APAC,
Deutsche Bank

Funding Social Impact
To fulfil our social impact ambition,
AirTrunk plans to invest the margin
incentives from the SLLs into social
impact initiatives aligned to our four
focus areas including Equal Digital
Access, STEM Education, Biodiversity
and Conservation, and Innovation
and Research & Development.
AirTrunk first introduced its plans
to invest margin incentives intosocial impact initiatives as part ofits ~A$650m TOK1 SLL in Japanin March 2023, making us the firstpublicly known corporate to do so.
In FY24, the program was expanded
under our A$4.6b corporate financing
to support similar initiatives inAustralia, Singapore, Malaysia andHong Kong.
As the size of our SLL continues
to grow, it is AirTrunk’s intention
to continue to invest the margin
incentives in this way.

Progress

Appendices

19

20

PLANETSustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleIN CONVERSATIONWITH CHIEF TECHNOLOGY OFFICER
We’re working closely withpartners, regulators, environmental
bodies, local authorities, andour communities to realise thisopportunity.

Damien Spillane

Chief Technology Officer

1. What role do hyperscaledata centres play when it
comes to decarbonisation?
Hyperscale data centres play aleading role in guiding society
towards a greener future.
At a foundational level, our role
starts with responsible energyuse, measured by factors like PUE,
renewable energy, WUE and CUE.
The next level is where the real
challenge lies. We’re actively
seeking opportunities across APJ todecarbonise the grid. This includes
assessing how we can better
leverage our backup infrastructure.
If used more effectively, thesecan be a powerful tool for griddecarbonisation and clean energy.

At a local level, we’re eager to makean impact within our immediate
communities. We are exploring
ways to integrate, recycle andshare excess energy with local
establishments like schools andhospitals. This collaborative andcircular approach can greatly
minimise our environmental impact
and make lasting social impact.

2. Where is AirTrunk in ourjourney of decarbonisation?
We now have a clear vision for
decarbonisation.
Last year, we announced ourcommitment to Net Zero emissions
by 2030. Our refinanced SLL
announced in August confirms thiscommitment with its landmark CUE
KPI keeping us accountable to ouremissions management.
We are also continuing to invest
in ground-breaking renewableenergy projects. This includes ourrenewable energy solution in Hong
Kong which you can read more
about in the Energy Management
section of this report.

Behind these great projects is ateam committed to driving positiveenvironmental change. We’ve invested
in hiring and developing about 20
experts in sustainability, energy, andclimate over three years to help us set
our strategy for a more sustainable
future. These teams, thoughunconventional for data centres,
are adding value to our product,
operations, and customers every day.
We’re also breaking down barriers
within our company and are focusedon bringing our various teams
together to achieve common climate
goals. This includes our Sustainability
and Energy teams collaboratingwith Finance, Procurement,
Marketing, Development andOperations on outcomes that
promote key environmental, social,and governance topics across ourbusiness, and with our customers.
Our challenge is shaping desired
outcomes. Much of this will comefrom our partnerships, especiallywith grid and energy regulators. Our
strategic direction is certain. Our
aim is to be recognised as dedicatedagents of continual change, making
our sites and business model
contribute positively to sustainability
and decarbonising our planet.

3. What is the future state?
We remain committed tochampioning decarbonisation in thedata centre industry.
We’re aiming for something quite
significant here. We want every
jurisdiction and community towelcome new data centres because
they know they contribute todecarbonising the energy grid.
We’re putting considerable effort
into our decarbonisation initiatives
to achieve this. This includes
innovating to deliver 24/7 clean
energy and accelerating the
deployment of carbon-free energy
solutions. You can read more in ourPowering a Clean Energy Futurereport.
Our vision is to ensure that every
stakeholder—regulatory bodies,
local communities, or beyond—associates data centres withdecarbonisation and positivesocial impact, going beyond ourcore purpose which is to drive
digitalisation across the region.
We would like our sites to evolve into
critical energy and data hubs thatdrive the very heart of our modern
civilisation and grid infrastructure.
More than just handling data; it
involves actively shaping how thegrid responds, interacting with ouroperations, and influencing positive
outcomes through our investments.

Progress

Appendices21

Sustainability Report FY23

ENERGYMANAGEMENT

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

Why it matters?

It has been estimated that data centres account for approximately 1% of global electricity consumption and thisis projected to increase with the digitisation of our economies 1. As APJ’s largest data centre provider, we have a
responsibility to operate to the highest energy efficiency measures.

How does AirTrunkmanage this?

The single most important metric for managing energy across the industry is PUE. AirTrunk optimises, measures, andcontinuously improves on its annual average operating PUE2. PUE and energy efficiency is managed across the lifecycleof our data centres. Starting with the design process, AirTrunk advises our customers on the most energy-efficientconfiguration. We run innovation and continuous improvement programs to further raise energy efficiency of all ouroperating data centres. Beyond efficiency, sourcing renewable energy is critical to our Energy Management strategy.
In line with our Net Zero targets, AirTrunk aims to match 100% of electricity consumption at our sites with renewableenergy by 2030 in close co-operation with our customers.

What is our commitment?

Set the benchmark for best-in-class PUE across APJ, and match 100% of electricity consumption at sites withrenewable energy together with our customers.

What is our Target,
Performance and Action
Plan?

TARGET Maintain annual average operating PUE within the AirTrunk PUE band with the long-term goal of achieving 1.23-1.28
annual average operating PUE as AirTrunk portfolio stabilises.
 Achieve 100% renewable energy matching by 2030 through AirTrunk and customer procurement.
FY23 PERFORMANCE Portfolio average annual operating PUE for FY23 is 1.32.
 Operating portfolio is now linked to an annual operating PUE KPI as part of our sustainable financing.
 60% of electricity consumption matched with renewable in FY22 and verified in FY23 through AirTrunk and customer
procurement.
 Signed first-of-its-kind renewable energy solution in Hong Kong featuring hourly matching of renewable generation
to our data centre electricity consumption.
 Launched Powering a Clean Energy Future report that identifies hyperscale data centres as key drivers in APJ’senergy transition and determines the most effective technology pathways and costs to reaching 24/7 Clean Energy.
ACTION PLAN
 Continue to drive down PUE towards our long-term goal through innovation projects and deployment of novel
technologies such as liquid cooling.
 Increase the share of renewable energy sourcing matched to our electricity consumption.
 Support the energy transition in APJ with the goal of maturing the commercial and technology solution to reach 24/7
clean energy.

Who manages this at
AirTrunk?

Under the leadership of AirTrunk’s Head of Energy and Climate, our dedicated Energy Management Lead manages
energy efficiency across our portfolio. Our PUE commitments are sponsored and reviewed by AirTrunk’s Chief
Technology Officer.

Which SDGs does it
contribute to?

1 According to estimates of the International Energy Agency published in September 2022, data centres consumed about 200TWh globally which was 0.8% of global electricity in 2019.
2 PUE measures the ratio between total facility energy consumed and the IT equipment energy consumed. A lower PUE value indicates less energy is required to operate the IT servers and the data centre is operating more efficiently.

22

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

23

PUE
PERFORMANCE
AirTrunk’s energy efficiency continues toimprove and is tracking towards our long-termgoal of achieving 1.23-1.28 annual average
operating PUE as the portfolio stabilises.
In FY23 we achieved an operating PUE of 1.32
compared to 1.35 in FY22.
Existing Australian data centres, including
SYD1, MEL1 and SYD2, continue to improve
PUE performance as site utilisation increases
with our business growth. In addition,
AirTrunk’s operations team continues to refine
energy efficiency optimisation programs.
These data centres currently perform below
the portfolio-weighted average operating PUE.
The addition of TOK1’s 12-month PUE
performance in AirTrunk’s operating portfolio
in FY23 has been positive with this site
operating below the portfolio operating PUE
average. The deployment of free-coolingchiller technology at TOK1 allows AirTrunk totake advantage of the cold climate in Tokyothroughout the year. This cooling technology
significantly improves the efficiency
performance of the heat rejection plant, inturn, reducing PUE across TOK1.
Data centres in tropical and sub-tropicalclimates are generally subjected to higher
PUE averages due to the increased coolingrequirements. However, both SGP1 and HKG1
have also improved their year-on-year PUE
performance.

Given the inherent PUE challenges of data
centre deployments in tropical climates,
liquid cooling technologies such as directto-chip and immersion cooling provide
an opportunity to deploy highly efficientsolutions despite the unfavourable
climate in these locations. AirTrunk’s JHB1,
currently under development, will feature a
deployment of liquid cooling technology torealise significant energy savings and ensure
we can continue to provide industry leading
PUE performance for our customers as we
expand in tropical APJ climates.
Given 100% of AirTrunk’s portfolio across APJ
is now linked to sustainability linked or green
loans, we remain accountable to designing,
deploying and operating our data centres
in an efficient and sustainable manner,
reducing our global carbon footprint as we
strive to achieve our ambitious sustainability
performance targets attached to the SLLs.
PUE YoY Performance
PUE

1.69

1.50

1.41
1.33

1.33

1.13

1.13

1.14

50%

75%

100%

PUE band of AirTrunk data centre portfolio(annual average)
1.13

25%

IT Load Utilisation

Figure 1: PUE band of AirTrunk data centre portfolio (annual average)

1.37
1.35
1.32

1
FY21

Average PUE in APJ for 2020 (Uptime Institute)

FY22

FY23

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

ACCELERATING CLEAN ENERGYIN APJ REGION
Our 100% Renewable Matching
Commitment
Sourcing renewable energy is fundamental to
AirTrunk and our customers – it is needed toachieve our Net Zero targets, and to catalyse
the energy transition of our APJ markets andtheir ability to support continued data centre
growth.
This is why we have set a target to match
100% electricity consumption at site by 2030
in collaboration with our customers. We will
do this by sourcing renewable energy throughinstruments such as green supply agreements,
RECs and PPAs. In addition, our hyperscalecustomers rank among the largest global
buyers of renewable energy and may also
source renewable energy directly for theirconsumption with AirTrunk.
In November 2022, AirTrunk announced a firstof-its-kind renewable energy solution in Hong
Kong.
AirTrunk is committed to not only reaching
100% renewable matching, but in doing so
accelerate the energy transition in APJ towards
24/7 clean energy. This means promoting boththe availability of intermittent renewables
in our markets and the deployment of clean
firming technologies such as energy storage,
regional power grids and green hydrogen.

We are committed to driving the conversation
when it comes to achieving 24/7 clean energyin APJ. In August 2023, we released ourPowering a Clean Energy Future report that
explored 24/7 clean energy in the region, therole of hyperscale data centres and the steps
required to achieve the clean energy transition.

FY22 Verified

40%

FY23 Projectedenergy supplied by thegrid mix

AirTrunk Renewable Energy Profile
In FY22, the electricity consumption at oursites was matched 60% with renewable energy– 46% through customer procurement and
14% via direct AirTrunk sourcing. The remaining
40% was supplied by the grid mix.
Based on current projections, we expect aslight decrease for FY23 due to consumption
growth in different locations, however as
more customer procurement data becomes
available in the coming year due to timing lags,
the actuals may increase.

46%

14%

energy matched withrenewable energy by
the customers in FY22
and verified in FY23
through customer
procurement data

renewable sourced
by AirTrunkFigure 2: AirTrunk Renewable Energy Profile

51%
34%
15%

energy supplied by thegrid mix

energy matched withrenewable energy by
the customers in FY23
to be verified in FY24
through customer
procurement data
renewable sourced
by AirTrunk24

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

POWERING CLEAN ENERGYIN APJ
Renewable Energy Solution in
Hong Kong
In November 2022, AirTrunk and Hong Kong’s
major utility provider, CLP Power, announced
a first-of-its-kind renewable energy solutionin Hong Kong that matches Microsoft’s data
centre electricity consumption with local
renewable energy certificates (RECs).
Under the agreement, AirTrunk is sourcing
hourly RECs from CLP Power to provide
renewable energy matching at its HKG1 data
centre for its customer, Microsoft, setting a
number of industry benchmarks including
being:
 The first-of-its-kind in the APJ region tofeature hourly matching of renewablegeneration to data centre electricity
consumption; The first RECs solution linked to an
identifiable renewable energy project inHong Kong; and The biggest RECs agreement for a data
centre since the launch of the CLP RECs
program in 2019.

The solution is directly linked to the West
New Territories (WENT) Landfill Gas Power
Generation Units of CLP Power, namely WE
Station. WE Station is a renewable energy
project making use of landfill gas, that is
locally produced at the landfill site, for power
generation and converting waste to energy.
The solution was awarded a 2023 Renewable
Energy Markets (REM)™ Asia Award thatrecognises organisations driving clean
energy adoption in Asia.

24/7 Clean Energy Report
AirTrunk is taking a leadership positionin driving the energy transition
conversation in APJ, calling on industry
and governments to collaborate further
to achieve 24/7 clean energy.
AirTrunk’s ‘Powering a Clean Energy
Future’ report was developed tobuild momentum towards achieving
24/7 clean energy in APJ. The report
identifies hyperscale data centres as
key drivers in APJ’s energy transition to
24/7 clean energy.
It highlights how a hyperscale data
centre’s size, electricity demand profile,innovation capabilities and provenexperience in procuring renewableenergy puts them in a prime position forpartnership to accelerate the transition.

“Hyperscalers and their value
chain are at the forefront ofdecarbonising their power
intensive operations in
Asia-Pacific and it is great tosee thought leadership pieces
like this one shared across theindustry.”
Ricardo Reina
McKinsey & Company

25

Sustainability Report FY23

CARBONMANAGEMENT

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

Why it matters?

The climate crisis is one of the most important global challenges of our generation. The green transition is no longer an
option. It is a necessity.

How does AirTrunkmanage this?

As the pioneer of hyperscale data centres in the region, we have launched a global standard for managing Net
Zero emissions in hyperscale data centre environments. It is based on transparency, accountability and customer
collaboration, and balances climate ambition with emissions ownership. Refer to FY22 Sustainability Report. We
work closely with our suppliers, partners and cloud customers on innovation and partnerships to progress on ourdecarbonisation strategies.

What is our commitment?

AirTrunk is committing to achieving Net Zero emissions by 2030 for all Scope 1 and Scope 2 emissions.

What is our Target,
Performance and Action
Plan?

TARGET Achieve Net Zero for all Scope 1 and Scope 2 emissions by 2030 and report our Scope 3 emissions.
 Ensure that 100% of electricity consumed at AirTrunk sites is sourced or matched with renewable energy electricity
by 2030.
FY23 PERFORMANCE Linked CUE targets to our SLL to publicly report progress against our Net Zero targets.
 Scope 1: Completed a review on reduction from the use of low GWP refrigerant (with immediate outcomes forrefrigerant specifications for water-cooled chiller procurement).
 Scope 2: Signed new renewable energy contracts and progressed work with customers that control energy
procurement, verifying their own matching with renewable energy (reducing our reported Scope 2 emissions).
 Scope 3: Implemented embodied carbon modelling for all new data centre developments, including identifying andquantifying reduction options. Completed our first embodied carbon review of a data centre in Australia.
ACTION PLAN
 Scope 1: Continue to reduce emissions through design and operational improvement and to offset residual
emissions.
 Scope 2: Continue to increase energy efficiency and the share of renewable energy, and to further align reportingwith customers who control energy procurement and verify renewable matching.
 Scope 3: Quantify roadmap for embodied carbon intensity of future developments to set measurable targets.
 Report our Carbon Usage Effectiveness (CUE) performance from FY24.

Who manages this at
AirTrunk?
Which SDGs does it
contribute to?

Our dedicated engineering function manages carbon under the leadership of AirTrunk’s Head of Energy & Climate.
Our carbon commitments are sponsored and reviewed by AirTrunk’s Chief Technology Officer.

26

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

AIRTRUNK GREENHOUSE GAS (GHG)
EMISSIONS INVENTORYSCOPE 1:
Direct GHG emissions
from our operations

Combustion of diesel fuelfor backup generators

Fugitive emissions
from refrigerants

Specialty gases present
in our transformers
and substations

Figure 3: AirTrunk GHG Emissions Inventory

SCOPE 2:
Indirect GHG emissions
from consumption of electricity

Electricity
consumption

SCOPE 3:
Indirect GHG emissions
from our value chain

Construction

BusinesstravelBuilding
elements

EmployeecommutingPlant andequipment

Working fromhome

Indirect
Emissionsfrom Customer
Electricity
Consumption(confirmed customer
ownership)27

Sustainability Report FY23

Introduction

OUR
DECARBONISATIONROADMAPPHASE 1

PeopleProgress

Appendices

PHASE 2

PHASE 3

Scope 1 reduction

REDUCE SCOPE 1 EMISSIONS Deploy BESS (Battery Energy
Storage System)
 Use of non-SF6 equipment
and SF6 replacement
 Support high-quality carbon
projects and markets

 Refrigerant leak capture andearly alert systems
 Adopt low-GWP refrigerant Renewable diesel
 Offset residual emissions

 Further disruptive
technology such as
generator replacements

Scope 2 reduction

TRANSITION TO 100% RENEWABLE ENERGY FOR SCOPE 2
 New technology solutions tofurther reduce energy use
 Scaling up renewablesourcing and moving to 24/7
clean energy

 Energy efficiency initiatives
 Renewable energy sourcing(directly and with customers)

 Further leverage
disruptive technology

MANAGE AND REDUCE EMBODIED CARBON
Scope 3 reduction

In FY23, we made significant progress
towards implementing decarbonisation
levers and our roadmap:

PlanetDecarbonisation Levers

Emissions Reduction Lever

In October 2022, AirTrunk announced
its commitment to Net Zero emissions
by 2030 (Scope 1 and Scope 2), witha unique approach to emissions
reporting developed specifically for
hyperscale data centre environments.

Sustainability ApproachNow Measure embodied carbon anddevelop reduction pathways

BIODIVERSITY MANAGEMENT

 Efficient construction design andembed low-carbon principles
 Low carbon material substitutes

Next

Future Explore/invest offset andbiodiversity management
options Alignment to TNFD
 Verified and assured
biodiversity offset

Net Zero Target

28

Sustainability Report FY23

Introduction

Scope 1 – Direct Emissions

Scope 3 – Value Chain

 Direct emissions have increased yearon-year due to portfolio growth and theinclusion of new sites in our reporting.

Indirect Emissions from Electricity
Consumption

 We have progressed reduction work
streams focusing on emissions from diesel
use and refrigerant emissions from chillers
as highlighted. Refer to case study.
 For residual emissions that cannot be
reduced further, AirTrunk sources highquality, meaningful, and measurable
carbon credit offsets. Refer to pg. 30.

Scope 2 – Indirect Emissions
 Our indirect emissions stem from theelectricity supply to AirTrunk sites, and thecarbon intensity of that supply. Sourcing
renewable energy and other carbonfree energy sources is a key priority todecarbonise our Scope 2. We have alsoannounced our first renewable energy
project in FY23. See Energy Management.
 AirTrunk enables customers to takeownership and responsibility for theirelectricity consumption within AirTrunkdata centres and manage the associatedemissions under their own emission
reduction targets.
 Where this is in place, AirTrunk reports
amounts under “Indirect Emissions from
Customer Electricity Consumption” in
Scope 3 (Category 13).
 AirTrunk recognises that it has a
stewardship role for the electricity
consumed in its data centres andcontinues to report consumption under
Scope 2 for the volume where thesafeguards of customer ownership andemission reduction targets are not in place.

 AirTrunk is closely partnering withcustomers on accuracy and transparency ofreporting.
 We report “Indirect Emissions from
Customer Electricity Consumption”
using the location-based method whencustomers take ownership of the electricity
consumption.
 We also report the emissions using themarket-based method to reflect customer’s
matching of electricity consumption withrenewable energy, which we verify throughcustomer procurement data.

Embodied Carbon
 AirTrunk first reported Scope 3 emissions
in FY22 with a strong focus on embodied
carbon (Category 13), as it accounts for 24%
of our total Scope 3 emissions. AirTrunkreported a detailed component breakdown
analysis of the embodied carbon emissions
from our Singapore data centre (SGP1) in
our FY22 report.
 In FY23, we have further implemented
embodied carbon into our design anddevelopment processes. Every new data
centre development at AirTrunk is now
undergoes embodied carbon analysis
during the design phase and projectspecific carbon reduction options are
identified.
 In FY23, we completed our first
embodied carbon review of a data centre
development in Australia. Key findings
were the refinement of methodology toquantify embodied carbon for mechanicaland electrical plant. We then revised

Sustainability Approach

Planetour view on the emissions attributed
to backup generators in particular,
which was more than what we originallyaccounted for. Increasing data availability,
including through Environmental ProductDeclarations (EPD), is a high priority
given the significant contribution of plant
equipment to overall data centre embodied
carbon values. During FY23, 50% of MEP
emissions were from infill fit out in areas

PeopleProgress

Appendiceswhere shell and core had been completed
in years prior. This will be a focus in our
supply chain engagement for FY24.
 AirTrunk’s goals are to reduce thecarbon intensity of our data centre
developments, reduce the embodied
carbon required per deployed IT capacity,and start reporting progress on theintensity reduction achieved.

AirTrunk FY23 Emissions

2,156

Scope 1
Scope 2 - Location-based
228,465

Scope 3 - Business Travel and   Working from Home
Scope 3 - Indirect Emissions from   Customer Electricity Consumption(location-based)
Scope 3 - Embodied Carbon

213,693
74,807

2,958

Scope 1

Scope 2

Scope 3AirTrunk FY23 Emissions (Projected using market-based approach)
Scope 1
Scope 2 - Market-based
Scope 3 - Business Travel and   Working from Home
213,600

Scope 3 - Indirect Emissions from   Customer Electricity Consumption*(market-based)
Scope 3 - Embodied Carbon*Projected*Projected

29

74,807

2,958

Scope 1

2,156

Scope 2

Scope 3

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices30

In FY23, AirTrunk sourced the following high-quality carbon credits to offset our residual Scope 1 emissions.
Project 1:
Bush Regeneration

Project 2:
Indigenous Fire Management

Project 3:
Rainforest Protection

Project 4:
Sustainable Forest Management

Location:
Western New South Wales, Australia

Location:
Northern Territory, Australia

Location:Central Kalimantan, Indonesia

Location:
Odaicho, Mie prefecture, JapanThe Project:
Widespread land clearing has significantly
impacted local ecosystems. This degradationand loss of plant species threatens the foodand habitat on which other native species
rely. This native forest regeneration projectworks with landholders to regenerate andprotect native vegetation. The area harbours
various indigenous plant species which
provide important habitat and nutrients fornative wildlife. The project avoids emissions
caused by land clearing and achieves key
environmental and biodiversity benefits.

The Project:
Arnhem Land in the Northern Territory isprone to extreme, devastating wildfires that
affect the landscape, people, plants, andanimals. Aboriginal Traditional Owners andrangers utilise customary fire knowledge toaccomplish highly sophisticated landscapescale fire management. Controlled burns are
conducted early in the dry season to reduce
fuel on the ground and establish a mosaic ofnatural firebreaks, preventing bigger, hotter,and uncontrolled wildfires later in the season.

The Project:
The Katingan Project in Indonesia is one of
the largest, protecting and restoring 149,800
hectares of a unique peat swamp forest
habitat. The project offers local communities
a diversified and sustainable source ofincome while tackling global climate change.
By reducing deforestation and degradation,
the project secures vital habitat - millions ofendemic and endangered rainforest species for animals like the Bornean Orangutan.

The Project:
The Sustainable Forest Management Project,aims to promote sustainable forestry practices
in an area where 93% is forest-covered.
Recognised for its pristine water quality,
Miyagawa is the cleanest Class 1 river in Japanand flows across a town acknowledged as a
UNESCO Eco Park. By prioritising sustainable
forest management, the project seeks toenhance the forest’s climate-regulating
capabilities, storing carbon in trees andpreventing greenhouse gas emissions fromdeforestation. The sale of credits under the
J-Credit system, certified by the Japanese
government, helps fund activities like theplanting of high-value broad-leaved trees.

Percentage of Units:
50% of 2,352 units
Sites Offset:
SYD1, MEL1, SYD2Percentage of Units:
50% of 2,352 units
Sites Offset:
SYD1, MEL1, SYD2Key Benefits and Impacts:
 Local employment; Emissions reduction;
 Biodiversity protection.

Key Benefits and Impacts:
 Local employment; Community development; Biodiversity protection;
 Ancient culture site protection.

The project meets the following SDGs:

The project meets the following SDGs:

Percentage of Units:
100% of 517 units
Sites Offset:
SGP1, HKG1Key Benefits and Impacts:
 Biodiversity protection;
 Emissions prevention;
 Wildlife protection;
 Habitat conservation;
 Community empowerment; Sustainable agriculture.
The project meets the following SDGs:

Percentage of Units:
100% of 90 units
Sites Offset:
TOK1
Key Benefits and Impacts:
 Biodiversity protection;
 Emissions prevention;
 Wildlife protection;
 Habitat conservation;
 Community empowerment; Water conservation.
The project meets the following SDGs:

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleCase Study

Case Study

Case Study

Driving Climate Action

Low GWP Cooling Product
Investigation

Managing Scope 1 with Renewable Diesel (HVO)

AirTrunk is collaborating with the
Asian Institute of Technology (AIT) in
Thailand on a ground-breaking pilot
to introduce the next generation ofcarbon projects, using a key regional
resource – mangroves, particularly
freshwater mangroves in cities. Over thelast decade, AIT has conceptualised theunique freshwater mangrove ecosystem
as a novel biotechnology.
Together, we are supporting the potentialcommercialisation of freshwater
mangroves through pilot projects
and dedicated research on carbon
sequestration and carbon offsets, alongwith other numerous co-benefits in theform of ecological services.

In FY23, AirTrunk conducted a study on
low GWP cooling options. The study foundthat chiller leaks account for the vast
majority of hydrofluorocarbon (HFCs) at
our sites. In FY23, leakages from chillers
accounted for 67% of our total Scope 1
emissions. By conducting the study,
we can now define and implement
activities that minimise these emissions
such as leak mitigation and gas capture.
The study also determined thatcompared to traditional deployments,
we can save up to 78% on our HFCemissions and also increase our peak
Coefficient of Performance (COP) throughthe adoption of low GWP options. From
FY24 onwards, we will replace R134awith R1234yf or R1234ze for all new
deployments, which is the technicalrequirement for sourcing water-cooled
chillers, and conduct further study forother chiller and equipment types.

Progress

Appendices

Renewable diesel is becoming more widely adopted as drop-in fuel for backup generators. In
our APJ markets, the availability and supply remain a key bottleneck. AirTrunk has been able toidentify potential suppliers in Japan and is in early-stage discussions with suppliers in Australia
and Singapore to organise procurement and deployment of HVO at our sites. Regulatory
frameworks are also evolving for renewable diesel, with regulators such as the Clean Energy
Regulator in Australia defining biodiesel to give clarity on the distinction between biodiesel andrenewable diesel and encouraging its use.

31

Sustainability Report FY23

Introduction

Why it matters?

WATER
STEWARDSHIP

Sustainability Approach

PlanetPeopleProgress

Appendices

32

Water is a critical resource and the source of life in communities and the natural environment. It is also key in theoperation of data centres where using water for cooling delivers significant energy savings and reductions in carbon
emissions.
Water availability varies region to region, and any use of water must be sustainable.

How does AirTrunkmanage this?

AirTrunk’s water stewardship strategy considers local conditions including the source, type of water and water stresslevels, as well as the management, disposal and recycling of water.
In FY23, AirTrunk joined the Open Call to Accelerate Action on Water, an initiative of the UN Global Compact, the CEO
Water Mandate, and others. As a member, we commit to building water resilience across operations and supply chain,and collaboratively across sectors to achieve collective positive water impact.
Water is applied consciously in the design and operation of our data centres to deliver significant energy savings andcarbon reduction.

What is our commitment?

To optimise water productivity through water conservation strategies for all operating data centre sites across APJ.

What is our Target,
Performance and Action
Plan?

TARGET Reduce upper threshold of water stress limit by at least 0.1 for all water stress classifications by 2030.
FY23 PERFORMANCE Joined the ‘Open Call to Accelerate Action on Water’ as a commitment to build water resilience across operations
and supply chains.
 Portfolio WUE increased from 0.84 to 0.94. The increase is driven by significant capacity increases across SGP1 andHKG1 which use water as energy-efficient cooling.
 Year-on-year WUE reduction of 16% across Australian portfolio.
 58% of all water consumed at our operating sites is recycled.
 Below average WUE of 0.10 achieved at TOK1, utilising free cooling in the cold climate to minimise water consumption
whilst maintaining strong PUE performance.
ACTION PLAN
 Ensure our designs for all new data centre developments comply with Water Stress Level (WSL) and Water
Productivity Threshold (WPT).
 Explore alternative non-potable water suppliers for all sites.
 Deployment of water optimisation programs across portfolio, targeting year-on-year WUE reductions at site level.

Who manages this at
AirTrunk?
Which SDGs does it
contribute to?

Water is managed across the lifecycle of our data centres. Our dedicated engineering team manages water under theleadership of AirTrunk’s Chief Technology Officer, with ongoing support from engineering and operations teams.

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

OPTIMISINGWATER USAGE
AirTrunk is committed to continually
optimising water consumption in linewith the water management framework
announced in FY22. While portfolio WUE
increased across FY23 given significant
capacity increases at water intensive sitesof SGP1 and HKG1, WUE performance at site
level for more mature sites (SYD1 and MEL1)
recorded a year-on-year reduction.
This demonstrates how applying theprinciples of the water management
framework can assist in optimisation ofenergy and water consumption.
The two key principles of AirTrunk’s water
management framework are Water Stress
Limit (WSL) and Water Productivity Threshold(WPT). During FY23, these have been further
embedded in the design and operations ofour data centres. For example, we are nowaligning project Technical Requirements(TRs) to the water management strategy.
Our Operations teams have also rolled outchanges to operational assets to ensure
they are in line with the water management
framework.
New sites announced in FY23 including JHB1
and HKG2, as well as expansions at existing
campuses, have been master planned anddesigned with a water efficiency focus,
alongside energy efficiency. The deploymentof new heat rejection systems at thesecampuses is aligned to local water stresslimits and WPT guidelines.

WATER STRESSAIRTRUNK DATA CENTRESELIGIBLE HEAT REJECTION(EXAMPLE)

WATER STRESS LIMIT(MAX WUE)

Extreme (>80%)-

Dry rated air-cooled chillers

0.0High (40-80%)

MEL1

Adiabatic air-cooled chillers

0.2-0.6

Medium-High (20-40%)

SYD1, SYD2, SYD3, TOK1, TOK2

Hybrid dry coolers

0.7-1.2

Low-Medium (10-20%)-

Indirect evaporative cooling

1.2-1.9

Low (<10%)

HKG1, HKG2, JHB1, SGP1Open circuit cooling towers

1.9-2.5

Figure 4: Water Stress Limits by selected APJ locations

33

Sustainability Report FY23

Introduction

UTILISING
RECYCLED WATERAs AirTrunk continues to expand in existingand new regions, we are always looking
for opportunities to source recycled watersupplies for our data centres.
In FY23, 58% of water consumption at
AirTrunk was from recycled water supply.
This includes water evaporated for data centre
cooling and heat rejection, cooling tower
blowdown and air-cooled chiller dumping,on-site irrigation and supporting of on-campus
office spaces.

Given Singapore’s classification as a low
water stress region, AirTrunk deployed morewater intensive water cooled solutions in
SGP1 than in other regions such as Australia
and Japan. With the recent ramp up andexpansion of the site, AirTrunk’s SGP1 water
consumption makes up a majority shareof the water consumption across the APJ
portfolio in FY23, and is entirely sourced with
NEWater recycled water.
In addition, with the potential of drought
or increased scrutiny around water stresslimits in our data centre locations in the
future, expanding these initiatives to source
non-potable water across the APJ region,
ensures we are not taking valuable potablewater from our communities.

Recycled Water (NEWater @ SGP1)

58%

Municipal Water

42%

Sustainability Approach

PlanetPeopleProgress

Appendices34

Sustainability Report FY23

WATER COMMITMENTS
LINKED TO ESG FINANCING
AirTrunk is the first data centre
operator in APJ to commit
to an operating WUE KPI
alongside an operating PUE KPI,
demonstrating our commitment
to the broader picture of ourenvironmental impact.
AirTrunk’s commitments to WUE
as part of our SLL is an extensionof the water management
framework announced in our
FY22 sustainability report,
centring around the key pillars
of water stress limits (WSL) andwater productivity threshold(WPT). Linking this frameworkand these key metrics tosustainable financing activities
demonstrates our commitment
to water stewardship andensuring we continue to innovate,
design and operate our data
centres with water front of mind.

Our WUE commitments directlyreflect our WSL targets from
our FY22 report, and aligns withthe water principles developed
Climate Neutral Data Centre Pact
(CNDCP) in Europe.
Over the coming years, AirTrunkhas committed as part of the SLL
to tightening the upper limit ofallowable WUE for all levels ofwater stress. This encourages not
only AirTrunk but the rest of theindustry to ensure all water use
is responsible and productive insaving energy. Committing to a
WUE alongside PUE also ensures
we drive positive influence
across both energy and water
management, noting the clear
interdependence between
energy and water consumption in
operational data centres.

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices35

Sustainability Report FY23

Introduction

Why it matters?

WASTE
MANAGEMENT

Sustainability Approach

PlanetPeopleProgress

Appendices

We recognise the adverse impact waste has on the environment. The traditional linear economy of ‘take-make-waste’ isbecoming obsolete and will eventually hinder economic growth due to the limited availability of resources.
Implementing effective waste management practices and transitioning to a circular economy is essential to supporting
decarbonisation. It is also important as it creates additional supplies of valuable resources such as materials, energy,
and raw materials.

How does AirTrunkmanage this?

AirTrunk has implemented a waste hierarchy to manage waste and continues to work towards optimising resources
through circularity.

What is our commitment?

Minimise waste generation during the development and operation of our data centres and improve circularity anddiversion rates across all sites.

What is our Target,
Performance and Action
Plan?

TARGET 100% of data centres zero-waste certified by 2030.
 100% of data centres* reporting on diversion rate by 2025.
FY23 PERFORMANCE Identified and assessed all types of waste that leave SGP1 and MEL1, and enhanced waste transparency andreporting.
 Progressed toward ‘UL Zero Waste to Landfill’ certification for SGP1 and MEL1.
ACTION PLAN
 Achieve ‘UL Zero Waste to Landfill’ certification for SGP1 and MEL1 by FY24.
 Conduct waste review across our sites to understand disposal patterns and optimize measurement, reporting anddiversion rates.
 Continue to identify ‘circularity opportunities’ in our procurement, design and construction activities to ensure
continued minimisation of waste.
* Data centres with more than 24 months operation

Who manages this at
AirTrunk?

Which SDGs does it
contribute to?

All AirTrunk employees are responsible for waste management.
Our Head of Sustainability champions waste reduction initiatives which are communicated to site managers to
implement processes in all our data centres.

36Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

CIRCULAR THINKINGDRIVING WASTE MANAGEMENT
AirTrunk believes in incorporating
circular economy principles
wherever possible at each stageof the lifecycle to ensure effective
waste management. The circular
economy offers a framework, built
on the principles of eliminating
waste and pollution from theoutset and designing solutions
that can be repurposed, are longlasting, useful, innovative andenvironmentally friendly.
Our waste management goal canonly be achieved in collaboration
with our key stakeholders.
As a next step, we are working
closely with our suppliers andcustomers to ensure greater
circularity and waste reduction.
Refer to Innovation section for
more details on circularity.

From Waste Management Hierarchy

To Thinking Circularity at AirTrunk

ReduceRawmaterials

Reuse

RepairDesign andInnovation
AirTrunk’s
most
preferred
solution

Reuse andRecycling

RecycleCircular
EconomyRe-earth(compost)

Data Centre
Construction

Our least preferred solution
Incineration(or waste to energy)

Landfill

OSE
Procurement

Collection of
end-of-life
OSEs and Waste

Consumption,
Use, Repair,
Reuse

37

Sustainability Report FY23RESPONSIBLE
WASTE MANAGEMENT
We have developed programs andpolicies for reducing, reusing, andrecycling materials that would
otherwise be sent to landfill.
 Construction waste: We partnerwith our general contractors
to improve data collection
processes and gather highquality data on constructionwaste. We use this data to
inform innovative processes toreduce and divert waste.
 E-waste: As the cloud grows, oure-waste grows. Therefore,
we are thinking differently about
our servers and equipment
end-of-life. We have put in place
an e-waste recycling program
to ensure proper managementof AirTrunk used equipment,
repairing, repurposing, anddonating usable items where
possible.
 Office waste: We sharethe importance of waste
management and how to sortand dispose of office waste
correctly. All our offices and sites
have no desk-side bins, and areequipped with clearly labelled
recycling points including bins
for e-waste and batteries.

 Food waste: Waste compostingmachines have been installedin SGP HQ and SGP1. With thesemachines, the food waste isdigested by micro-organisms
and within 24 hours, the waste
is decomposed and converted
to dry organic fertiliser which is
distributed to selected Singapore
community gardens.
We continue to explore alternative
solutions for materials that arechallenging to recycle.

UL Certification Progress
AirTrunk has applied for UL2799
Zero Waste to Landfill claim
validation for SGP1 and MEL1. This
claim validation, administered by
UL Solutions, aims to support waste
reduction efforts by clearly defining
what constitutes waste, and setting
up a transparent process forvalidating zero waste environmental
claims at individual data centres.
We aim for SGP1 and MEL1 to be
UL2799 certified by FY24.

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

38

39

PEOPLE

Sustainability Report FY23

ENVIRONMENTALHEALTH AND
SAFETY

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

Why it matters?

We value and consider safety in everything we do. It is vital to integrate resilience principles into our processes, delivery
phases, and operations to ensure successful safety outcomes.

How does AirTrunkmanage this?

AirTrunk aims to achieve resilience across our APJ operations, focusing on eliminating significant injury and fatality
risks. We also empower our workforce to take accountability in identifying and mitigating risks.
We aim to go beyond compliance, defining attributes for resilience and using these to shape a long-term strategy tohelp us achieve our ambition to become a ‘Global Leader in Safety’.
Our EHS management system is certified to ISO 45001:2018 Occupational Health and Safety international standard.

What is our commitment?

To achieve industry leading safety performance that demonstrates EHS leadership in the sector.

What is our Target,
Performance and Action
Plan?

TARGET Maintain a safety culture survey result above global benchmarks.
 Maintain ISO 14001 & ISO 45001 certification across 100% of our operational data centres.
FY23 PERFORMANCE Safety culture survey: 83% (result) vs 73% (benchmark)* and 79% participation rate.
 ISO 45001 certification maintained across 100% of our facilities.
 ISO 14001 achieved for 100% of facilities.
 Critical Risk Management Program implemented within development projects.
 0 regulatory notices issued.
ACTION PLAN
 Critical Risk Management Program implemented within data centre operations.
 Undertake safety training to contingent hire contractors including facility, security and cleaning teams acrossdata centres.
 Maintain ISO 14001 and ISO 45001 certification at 100% of operational data centres.
 Maintain a safety culture survey result above benchmark score.
*Benchmark cohort comprised of EpiGroup administered surveys across Australian based organisations only.

Who manages this at
AirTrunk?

Safety is a collective responsibility at AirTrunk, integrated and embedded within all functions, activities, and processes.
Functional Executives are held accountable for safety leadership.
Our Chief Safety Officer, in consultation with our Chief Executive Officer and the Executive Team, leads our safetycommitments. Safety Professionals are strategically placed throughout APJ to provide support, coaching, training, andmentoring to our employees. The Safety program is backed by the Board of Directors and the Board EHS
Sub-Committee.

Which SDGs does it
contribute to?

40

Sustainability Report FY23

ENHANCING EHSMANAGEMENT
THROUGH ISO
CERTIFICATIONIn FY23, AirTrunk officially achieved ISO 14001:
2015 certification for our Environmental
Management System across all locations.
This set the basis for how we manage risk,
including realising opportunities to achieve
our environmental objectives. We plan tostandardise our approach to environmental
compliance, to increase efficiencies andenhance operational cohesion as we strive forcontinuous performance and improvements.
This latest certification joins our suite of ISO
certifications confirming our commitment
to the highest possible operating standards
across Asia-Pacific and Japan:
 ISO 14001:2015 Environment; ISO 9001:2015 Quality; and ISO 45001:2018 Occupational Healthand Safety.
Across all completed audits, AirTrunkrecorded zero non-conformities.

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices41

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

SUSTAINING OUR
SAFETY CULTURE
After achieving above benchmarks
in our FY22 safety culture survey,
and given our focus on continuous
improvement, we used the results
to inform several key initiatives
designed to uplift our focus onrisk and involve our people indiscussions on safety performanceand programs.
In FY23, with a participation rateof 79%, we were able to verify ourstrong safety culture. Our result
was significantly higher than thebenchmark cohort and our people
said that AirTrunk leaders place ahigh value on safety.

AirTrunk’s safety culture
score of 83% exceeded theAustralian benchmark scoreof 73%.

What Our People Said
AIRTRUNKERS

DELIVERY PARTNERS

What does AirTrunk’s seniorleadership say about Work
Health and Safety?

What do you think seniorleadership actually believes
about Work Health and
Safety?

What does AirTrunk’s seniorleadership say about Work
Health and Safety?

What do you think seniorleadership actually believes
about Work Health and
Safety?

“It’s very important, the heartof our business and always
looking for improvements andfeedback from staff”“Believes 100% in theimportance and always walkthe talk”“AirTrunk appear to becommitted to exceeding WHS
targets and applying continual
improvement processes to
WHS policy and performance”“I believe they mean what
they say”“Needs to be upheld by all,with great emphasis on this
topic”“Belief of involving the wider
business on this such that
employees are all on the same
page on Work Health and
Safety”“AT is always happy to assist
to improve the site condition”“Yes, they believe”“To make sure you follow
guidelines and ensure safety
for yourself and others at all
times”“They believe in the guidelines
placed and making sureeveryone stays safe”“Continuously educate andengage the workforce to worksafely and inculcate bestsafety culture into the mindsof workforce”“To implement best safety
practices across all levels”“Highest priority with a focus
on continuous improvement”“What they say they believe”“Everyone is a safety leader”“It is a critical part of any job”

42

Sustainability Report FY23

SAFETYTRAINING
FOR ALLIn FY23, baseline safety training was
assigned to all AirTrunkers via ouronline learning management system
and we achieved a 97% completion rate.
The course covered the fundamentals
of safety including duty of care,
identifying hazards and risks,determining the likelihood of harm, andselecting practical control measures.
AirTrunkers will be expected tocomplete a refresher of the safety
fundamentals course annually.
Additional courses have been identified
for data centre teams based on arole’s risk exposure or impact on
critical controls. These online courses
will be rolled out throughout FY24 toemployees and onsite contractor teams.

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices43

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

44

CRITICAL RISKMANAGEMENT PROGRAMIn FY23, AirTrunk developed and implementeda Critical Risk Management (CRM) program
specifically for our development projects.
The development of this CRM program involved
a thorough evaluation of work activities andhazards that pose a permanent disability or
fatality risk to our personnel. The goal was
to identify critical hazards and establish thenecessary controls to prevent significant
incidents. These critical controls needed to berobust, responsive, and in place during work
operations.
To gain a comprehensive understanding of
our critical risks and the required criticalcontrols, we conducted more than 100 hours
of workshops with our Development Team
leaders. We leveraged expertise from across
our organisation and identified 11 critical risks,
56 individual critical hazards, and over 125
critical controls.
From the evaluation work, we have now
incorporated critical controls into ourGlobal Minimum Standards and assurance
mechanisms. Our aim is to direct the attentionof AirTrunkers and delivery partners towards
what matters most – the prevention ofsignificant injuries and fatalities.
We plan to expand the roll-out of our CRM
program in FY24 by further emphasising andembedding our critical controls throughout our
assurance programs.

JHB1 – New market entry
During FY23, AirTrunk achieved a significant
milestone by entering into Malaysia.
While recognising the heightened risks
associated with new market entries, we tookproactive steps to overcome them in pursuitof our goals. Working closely with our delivery
partners, we implemented a comprehensive
risk management approach, focusing on
knowledge sharing, enhanced communication,and leveraging existing expertise.
We used a robust pre-qualification process topromote clear communication and resolve any
ambiguities before beginning the project.
We worked closely with our delivery partners toensure a comprehensive understanding of the
project during bidding, startup, and execution.
Following contract award, we prioritised
regular workshops and alignment sessions toclarify safety expectations.
We created a practical safety strategy that
focused on our workforce’s wellbeing during
the complex build phase.
Our experienced delivery team, with insightsfrom previous projects, played a vital role in
the project’s success by hosting workshops toshare valuable lessons learned.

To ensure seamless integration of knowledge,
a dedicated Bid Manager was appointed
to transfer information from previous
projects directly to the Project Lead in Johor,
enabling successful integration of pre-flightinformation.
With our first Malaysian project now underway,
the diligence invested in pre-flight preparation
has yielded positive results, evident in a
successful start-up phase with a wellorganised build site, deliberate and safe work
practices, and a highly engaged delivery teamand workforce.

Sustainability Report FY23

TALENT
DEVELOPMENT,
DIVERSITY,
EQUITY, AND
INCLUSION (DEI)

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

Why it matters?

As our industry continues to see rapid growth, this puts pressure on talent pools across APJ. Recognised as a “Great
Place to Work in Australia” in FY23, AirTrunk continues to invest in our people to ensure we remain the place talentwants to be. We do this while also creating and fostering a diverse, equitable and inclusive culture.

How does AirTrunkmanage this?

We offer a range of people programs and a workplace environment that keep our people positively charged andconnected to each other and the community.

45

To maintain a high performing culture, we offer learning and support programs, encourage regular and constructive peer
feedback, and have applied a transparent approach to talent management.
What is our commitment?

Upskill talent and develop leadership capabilities across the workforce while embedding diversity, equity, andinclusion across all our regions.

What is our Target,
Performance and Action
Plan?

TARGET Achieve 35% company-wide representation of women by 2025 and 40% by 2030.
 Maintain an annual engagement survey participation of 90% or above.
FY23 PERFORMANCE Increased company-wide representation of women to 37.8%1 (up from 32% in FY22).
 Achieved 54% female representation of new hires in FY23 (exceeding FY23 KPI of 40%).
 Increase in the representation of women in teams previously dominated by men at AirTrunk, including:- 8% increase in Development (total: 22%);- 14% increase in ICT (total: 14%);- 23% increase in Corporate Development & Treasury (total: 40%).
 Engagement maintained above average at 82% (+1% from 2022) with 97% survey participation.
ACTION PLAN
 Achieve minimum 40% female representation of new hires.
 Launch 21st century skills training with ‘Human Centred Design’ rolling out to all staff.

Who manages this at
AirTrunk?

Under the leadership of the Chief People Officer, the People & Culture team leads AirTrunk’s culture strategies andprograms.
All AirTrunkers play a role in creating and fostering a culture that is inclusive, engaging, and sustainable as we continue
to grow.

Which SDGs does it
contribute to?

1 Note 37.8% is as of 30 June 2023. As of 30 September, the gender ratio had further reduced to 36.1%. The primary drivers for this reduction being natural attrition and new hires in geographies where availability of diverse talent is limited, and   AirTrunk’s brand isn’t yet established — therefore hiring strategies are not yet as effective. AirTrunk has further headcount approved for these geographies / sectors which may see further pressure throughout FY24. Given the total size of AirTrunk’s   workforce this level of volatility is natural over any 12-month period. Note 36.1% includes leavers, accepted offers and new starters.

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetA DIVERSE AND
INCLUSIVE WORKPLACE
Our DEI strategy prioritises four main pillars focused on gender,race and ethnicity and generational representation, while
sustaining a culture of inclusivity.

In FY23, AirTrunk continued to deliver a number of key initiatives to support ourcommitment to DEI across our recruitment process, learning and development,
AirTrunker Experience and NextGen Talent.

Generational
Embrace all talentregardless of age and build
a sustainable and diverse
pipeline of talent and leaders
for the future.

Inclusive Culture
Foster an environment
where everyone is able tocontribute and succeed, andwhere everyone feels they
belong.

Each pillar has key objectives and measurable outcomes toensure we deliver what we promise.

Appendices46

Total employees by gender

DEI Progress and Actions

Race and Ethnicity
Maintain and leverage racialand ethnicity diversity forenhanced business outcomesin our multi-geo environment.

Progress

EMPLOYEES PROFILE

How do we prioritise DEI?

GenderAchieve more genderbalanced representationin AirTrunk’s workforce andamongst senior leadership.

PeopleSustainability Linked
Loan

KPIs for SLL include gender diversity and gender
pay equity.

DEI Fundamental
Training

Offered DEI fundamental training to all
AirTrunkers through LinkedIn Learning, covering
topics such as unconscious bias, creating
inclusive cultures, ally groups and psych safety.

Women in Leadership
Program

Launched our third leadership program, for our
women leaders focused on building impact andinfluence through personal brand and valuesalignment.

Employee Resource
GroupsERGs to build awareness and promote a sense of
belonging for groups with shared identities.

Male

140

Female85

Total employees by age group<30 years old

1730-49 years old

186>50 years old

22

Total employees by region
Unbiased Hiring
Process

Ensure gender neutral pipelines, interviewer
panels and neutralised job descriptions.

Next Gen Talent

Established programs with universities tosupport next generation talent, providing
opportunities for learning and growth.

Australia

127

Singapore

56

Japan

34

Hong Kong

7

Malaysia1

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

47

GROW
@HYPERSCALE
AirTrunk Commitment to our People

GROW TONEW HEIGHTS
As you go above and beyond to scale APJ’s
digital future; AirTrunk helps you to grow to
new heights.
 Provide AirTrunk Learning to build
AirTrunkers’ skills and capabilities;
 AirTrunkers gather and innovate through
AirTrunk Connect; and NextGen Talent Program works incollaboration with Australia andSingapore universities to offer
internships and graduate programs.

SEE THEIRIMPACT

NEW HIRES AND EMPLOYEE TURNOVER

ELECTRICATMOSPHERE
As you are dynamic in the face ofchange; AirTrunk provides you with
an electric atmosphere to keep you
energised, inspired and motivated.
 Offer a flexible working
environment; Provide weekly team lunches tostrengthen our community; and Organise bi-monthly PowerUp
sessions to celebrate successand align on strategic businessagenda.

POSITIVELYCHARGEDAs you act with transparency, being open,
and respectfully direct; we come together asa team and help you to create and see yourimpact.

As you are responsive to the needs ofour customers and fellow AirTrunkers;
AirTrunk helps you stay positively
charged in both your work and life.

 Offer a Reflect and Grow program tosupport each AirTrunker’s growth andaccelerate their career.

 AirFit Wellness Program
encompasses quarterly ‘Recharge
Days’, paid days off for mental healthand wellness allowances 24/7 access to Uprise, acomplimentary employee assistanceprogram; Provide parental leave benefits; and Offer comprehensive international
medical coverage.

New hires by gender

New hires by age

Male

31

<30 years old

10

Female3730-49 years old

55>50 years old

3

Employee turnover by gender

Employee turnover by age

Male

17

<30 years old

3

Female1130-49 years old

21>50 years old

4Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

STAYINGPOSITIVELY CHARGED
AirTrunk’s wellness program integrates
work and life to truly meet individuals needs
holistically. We want our people to do what
they are passionate about to get the mostof their lives and feel good about working
at a place that genuinely recognises theimportance of looking after yourself.

RECHARGE DAYSUPRISEWELLNESSINTERNATIONALHEALTHAll AirTrunkers can take up
to 4 personal leave days
per year when they need
it most to recharge andensure they stay mentallyand physically fit.

High-quality, confidential
complimentary
professional counselling
services for AirTrunkers
and their family. Available
globally, over the phone orface to face.

AirTrunk provides anannual wellness allowance
to help all AirTrunkers
maintain a healthy lifestyle.

AirTrunkers can travelwith confidence with 24/7
medical, security andsafety support through tele
consultation, e-learning,
and the International SOS
Assistance App.

Health insurance throughAllianz is offered to all FTE
AirTrunkers in Singapore,
Hong Kong and Malaysia.

Healthy Mind & Body

Employee Assistance
ProgramAllowance

SOS

Insurance48

Sustainability Report FY23

EQUIPPING
OUR LEADERSIn FY23, we launched our People
Leadership Program (PLP) with a focus on
ensuring a common leadership language at
AirTrunk. Participation in the PLP has beenoffered to all people leaders across ourorganisation.

“I love that AirTrunk’s culture ofcontinuous improvement has so
seamlessly permeated into thiscourse and on top of that your own
desires for continuous learning
as leaders is so clear. It makes me
feel nothing but excitement for
our future.”
Prashant Murthy
Chief Financial & Commercial Officer
Feedback from this program has been
positive, including a 100% favourable
score. The program is facilitated by
Shaun Kenny from People of Influence, aconsultancy specialising in leadership andteam development.
We worked with Shaun to co-design
a program reflective of opportunities
identified in our engagement surveys andcommon growth plan themes.

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices49

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

50

NEXT GEN TALENT PROGRAM
We implemented a NextGen Talent Program with initiatives
including internship and graduate programs.
Key outcomes from the programs are outlined below.

AirTrunk Internship Programs
We welcomed four interns into our Development team as partof the 2022 internship program which received an average
participant rating of 9.5/10. The program partners an intern withan experienced AirTrunk team member in their field of study
to learn from and experience live projects that support theircoursework. It also supports the growth and diversity of STEM
students across Sydney. Our program had a total of 40% female
representation across the internship cohort.

“Joining AirTrunk as an intern was a really rewarding
experience for me as a graduate fresh out of university.
As the data centre industry is still fairly new in
Singapore, I was really appreciative of AirTrunk andmy co-workers for providing an environment that was
conducive and supportive of my learning and growth.
Having my thoughts and ideas heard and being able to
make valuable contributions to projects significantly
boosted my confidence and made me feel appreciated.
All of these motivated me to convert to a full-time
employee and continue my journey with AirTrunk!”

Yinshi Lin
Data Analyst Intern

Women in Engineering Mentoring Program

USYD’s Jacaranda Flame Consulting Program

In April 2023, we commenced our Women in Engineering
Mentoring Program with four AirTrunkers volunteering to be
mentors to University of Sydney (USYD) Engineering students.
Mentors and mentees were specifically matched with theprogram creating a pathway for recruitment, and a professional
development opportunity for AirTrunkers involved in mentoring.
In cultivating DEI allyship, all four mentors are male andactively volunteered to be mentors to support NextGen talent.
We recognise the importance of allyship to support progress
towards gender parity while providing an opportunity foreducation and influencing a change in behaviour. We believethat women having male allies results in a higher level ofinclusion and belonging.

In December 2022, we welcomed a group of multi-disciplineengineering students to consult with us as part of the USYD’s
Jacaranda Flame Consulting Program. The engineering students
applied their studies to a real-world project, identifying
solutions for engineering opportunities across our data centre
communities. They received weekly mentoring from membersof the AirTrunk Technology and Development Team. The
successful project had mutual benefits, with AirTrunkers given
the opportunity to mentor upcoming engineering professionals,
and the students developing core technical, analytical andconsulting skills in a business environment.

“AirTrunk’s Women in Engineering Mentoring Program
has been a fantastic initiative launched by thebusiness, allowing team members to connect withstudents. Being paired up with female students has
allowed us as mentors to share with them some realworld experience, highlighting some of the everyday
challenges we face in the industry. On top of this, it
has been rewarding to be able to provide guidance andclarification around their future engineering careers
and assist them in unlocking their potential andtransitioning from achieving their university degree
towards beginning their career. This program continues
to demonstrate AirTrunk’s openness to diversity andinclusion while promoting and encouraging women to
pursue careers in the STEM industry moving forward.”

Quentin Osborn
Chief Information Officer“AirTrunk’s guidance
enabled a safe,
professional learning
environment. Consultants
became more open andcommunicative. I wish to
personally thank AirTrunkstaff for their dedication
to developing tomorrow’s
engineers.”
Brian Nichols
Supervising Professor“The encouraging
atmosphere at AirTrunkwas what made my time
there so memorable.
The team was keen
to understand what
we wanted from ourinternship experienceand went the extra mile
to help us achieve our
professional goals”.
Rishti Hossain
Participant

Sustainability Report FY23

Introduction

Why it matters?

Sustainability Approach

PlanetPeopleProgress

Appendices

AirTrunk’s growth has been possible, in part, because of the local communities that host our operations.
A commitment to community impact ensures a positive economic, social, and environmental future for all.

COMMUNITY
IMPACTHow does AirTrunkmanage this?

AirTrunk’s data centres provide critical digital infrastructure to our surrounding communities across APJ.
We contribute to the social and economic development in the markets in which we operate through local employment,
innovation, and the provision of cloud services.
In addition, AirTrunk supports community programs in all our markets around our social impact pillars.

What is our commitment?

Amplify positive impact in the communities in which we operate with a focus on equal digital access, STEM education
and biodiversity and conservation.

What is our Target,
Performance and Action
Plan?

TARGET Establish funding platform for social impact initiatives in APJ by 2024.
FY23 PERFORMANCE Supported causes in 100% of our markets that have been operational for at least 12 months.
 175+ AirTrunkers participated in community engagement programs across 12 selected non-profits and charities.
ACTION PLAN
 Continue supporting causes in 100% of our markets that have been operational for at least 12 months.
 Hire a Social Impact Director to plan social impact flagship programs across APJ.
 Establish “AirTrunk in the community” working group to identify opportunities for community collaboration.

Who manages this at
AirTrunk?
Which SDGs does it
contribute to?

Under the leadership of the Chief Marketing Officer, the Social Impact and Marketing team manage community impact
at AirTrunk.

51

Sustainability Report FY23

Introduction

MAKING A
POSITIVE IMPACTAs APJ’s largest independent hyperscale data
centre provider, we have a responsibility tohelp our communities thrive.
We strive to maximise our positive impact
across four key social impact focus areasthat are: Aligned to our business and oursustainability strategy;
 Ambitious and go beyond our usualbusiness activities or obligations; Geographically relevant to the APJ region or
the specific markets in which we operate; Long term and meaningful.

AirTrunk’s Community Impact Program
Our program focuses on Equal Digital Access,
STEM Education, Biodiversity & Conservation,
Innovation and Research & Development.
AirTrunk follows the UN SDGs as guidance
to develop a diverse range of initiatives topositively impact our society.
We have focused our efforts on the local
communities where our data centres havebeen operational for more than 12 months.
This includes Western Sydney (SYD1),
Melbourne (MEL1), Sydney’s northern suburbs(SYD2), Singapore (SGP1), Hong Kong (HKG1)
and Tokyo (TOK1).
Our activity in FY23 included donations, staff
volunteering and profile raising for a variety ofcommunity organisations.

Focus Areas
Equal Digital Access
Enabling digitisation andconnecting people in APJ,
focusing on local
opportunities supportinggroups in need.
STEM Education
Uplifting STEM skills in
the community, withparticular focus on next
generation, women andunderprivileged groups.
Biodiversity & Conservation
Respecting, protecting andpositively impacting local
land, habitat and ecosystems.
Innovation and R&D
Grants and other support
to drive innovation focusedon sustainability, digital and
STEM in our community.

Sustainability Approach

PlanetPeopleProgress

Appendices52

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

53

INVESTING INOUR COMMUNITIESSYD1, Sydney West Funded a mental health literacy
program at Blacktown Hospital inWestern Sydney.

SYD1, Sydney West Funded FNPW’s Recovery
Program to support bushfire andflood affected areas in NSW.

MEL1, Melbourne West Funded scholarships to
support STEM students in
Melbourne’s West.

Australia
 Supported 8 AirTrunkers toparticipate in the 2022 NoosaTriathlon, for Make-A-Wish
Australia.

Australia Raised funds and awareness forheart health with 39 AirTrunkers
participating in a 30km Coastrek
walk in Sydney.

HKG1, Hong Kong
 Funded beach clean ups andschool education programs
to help reduce plastic
pollution in Hong Kong.

Tokyo Funded laptops for orphanages
in the greater Tokyo area andeducated AirTrunk employeeson the challenges forunderprivileged youth in Japan.

TOK1, Tokyo Cleaned the banks of the Inzai
river near AirTrunk TOK1.

SYD2, Sydney North Funded the Lane Cove National
Park river conservation project tohelp conserve the unique natural
habitat and wildlife.

SGP1, Singapore
 Funded programs to help
empower women from lowincome families in Singapore.

SGP1, Singapore
 Planted trees to support theOneMillionTrees movement.

Sustainability Report FY23

Introduction

FOUNDATION FOR NATIONAL PARKS
AND WILDLIFE PARTNERSHIP
AirTrunk is a key corporate partner to theFoundation for National Parks and Wildlife(FNPW), a non-government organisation inAustralia with a mission to safeguard ourwilderness and wildlife for future generations.
In FY23, AirTrunk continued to build on ourpartnership with FNPW to support biodiversity
and protect our local environments.
AirTrunk’s continued support of the Lane
Cove River regeneration project has seen
the removal of invasive species and weeds,
returning the river to its natural state, andallowing native biodiversity to flourish.

Our support of the Western
Sydney bushfire and flood
recovery program has seen:
Trees planted in bushfire andflood affected areas;
Health restored to natural
habitats;
Habitat improvements that
support threatened species
including koalas; andFurther protection for local
communities and threatened
species against extreme
weather events.

Sustainability Approach

PlanetPeopleProgress

Appendices54

Sustainability Report FY23

CYBER SECURITY
AND DATAPROTECTION

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices55

Why it matters?

Maintaining a robust cyber security capability is important for a number of reasons. It protects data privacy, integrity
and confidentiality, responds to emerging cyber security threats and ensures availability of critical infrastructure.
This capability is crucial to building successful and sustainable customer relationships and promoting AirTrunk’s
position as a responsible stakeholder in the broader digital economy.

How does AirTrunkmanage this?

AirTrunk implements controls to ensure the availability of operational technology and data protection. Controls arealigned with and tested against ISO 27001, SOC 2, PCI-DSS, NIST Cyber Security Framework, and Australia’s PSPF whereapplicable.
AirTrunk maintains a zero trust principle to cyber security, ensuring the confidentiality and privacy of all our data.
Vulnerabilities are proactively identified and swiftly remediated to minimise potential cyber threats.

What is our commitment?

Ensure a best-in-class control environment that ensures the availability of operational technology and protects data.

What is our Target,
Performance and Action
Plan?

TARGET 100% sites in compliance with all relevant international standards including ISO 27001, SOC2, PCI-DSS, and financial
auditing standards.
FY23 PERFORMANCE No customer reportable data breaches were experienced in FY23.
 100% of staff completed FY23 data security training.
 100% sites in compliance with all relevant international standards.
ACTION PLAN
 Report 100% of customer data security breaches to the customer within 72 hours and undertake incident response
actions within the same time.
 100% of staff (internal and contractors) to complete comprehensive onboarding and annual refresher training on
confidentiality and data protection.
 Maintain compliance with international standards including ISO 27001, SOC2, PCI-DSS, and financial auditing
standards.

Who manages this at
AirTrunk?
Which SDGs does it
contribute to?

Customer data privacy and protection is managed by AirTrunk’s Chief Information Officer and is supported by the Chief
Executive Officer.

Sustainability Report FY23DATA
PROTECTION

Introduction

 Upgrade Rescan and Compare

AirTrunk complies with all applicable dataprotection legislation. We also uphold theprivacy and rights of individuals with respect
to any personal data AirTrunk collects. Please
see AirTrunk’s publicly available Privacy Policy
and Privacy Collection Statement for further
information.

Sustainability Approach

PlanetIMPROVE

PeopleASSESS

Progress

Appendices Identify Assets
 Scan and Check Report

Vulnerability Management
AirTrunk systems have been designed,from the start, with security as a primaryconsideration. There are multiple layers of
security controls in place to protect sensitive
Operational Technology (OT) infrastructure.
A project is underway to further enhance the
OT security controls using network detection
and response (NDR) technology which includes
vulnerability detection, as well as alerting on
events and anomalous behaviour. It is intended
that telemetry from this technology will besent to the centralised Security Informationand Event Monitoring (SIEM) system.
In FY23, AirTrunk implemented an IT
vulnerability management system which
has significantly reduced manual efforts,and subsequently, improved the quality andtimeliness of reporting.

VULNERABILITYMANAGEMENT

 Respond and Mitigate
 Accept Risks
 Patch (Change Mgmt)

RESPOND

Figure 5: AirTrunk Vulnerability Management System

PRIORITISE

 Triage and Filter
 Evaluate Severity
 Assign

56

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

NIST CYBER SECURITY
MATURITY ASSESSMENTCYBER SECURITY
OPERATIONS CENTRE (CSOC)

Following several recent cybersecurity initiatives and inrecognition of the ever-changing
cyber threat landscape,an independent assessment wascommissioned to assess AirTrunk’s
cyber security threat, risk, andmaturity posture.

In FY23, AirTrunk established a
24/7 Cyber Security Operations
Centre (CSOC) and Managed Detect
and Response (MDR) capability toensure ongoing monitoring of cybersecurity threats and events.

The threat and risk assessment saw
engagement with all areas of thebusiness to capture a wide rangeof business perspectives. Relevant
documentation and plans were also
analysed as part of the process todevelop a view of cyber security
threats and risks that could impact
on AirTrunk and its stakeholders.

The results of the threat andrisk assessment were then used
to structure the NIST maturity
assessment of AirTrunk’s cybersecurity strategy.
The findings were favourable
but there were opportunities for
improvement identified in a few
specific areas. These findings havebeen used to revise AirTrunk’s cybersecurity strategy and prioritiseefforts toward initiatives whichmore directly address the cyberthreats and risks.

Events are investigated and, if
a credible threat or incident is
discovered, the issue is escalated
for action. A key dependency for the
CSOC capability was consolidating
centralising telemetry and events
to a Security Information and EventManagement (SIEM) system, which
was implemented at the same time.

The increased visibility andcoverage have significantly
improved the ability to: Respond quickly to cybersecurity threats and incidents;
 Correlate events for better
quality detection;
 Analyse and investigate cybersecurity incidents, including
support for forensic activity; and Search cyber security records
for emerging threats (threat
hunting).
AirTrunk will continue to expand thescope and capabilities of the CSOC
to include additional systems andtechnologies, and introduce further
measures to identify threats to
AirTrunk infrastructure.

57

58

PROGRESSSustainability Report FY23

INNOVATION

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

Why it matters?

Innovation plays a critical role in elevating efficiency, scalability, and performance at AirTrunk. It also drives the industry
toward meeting the growing demand for sustainable and resilient data centres.

How does AirTrunkmanage this?

At AirTrunk, our leadership team has fostered an innovation culture.
Everyone is encouraged to put forward innovative solutions through our online innovation portal and discuss this during
our monthly steering committees.
We continuously innovate alongside our customers through regular technical sessions and workshops and engage with
our suppliers on innovation ‘proofs of concept’ and trials.

What is our commitment?

Pioneer innovations to create scalable opportunities for sustainable growth across APJ.

What is our Target,
Performance and Action
Plan?

TARGET Release at least one whitepaper or study annually and engage with key industry stakeholders to drive ESG
conversations.
FY23 PERFORMANCE Conducted a pilot to explore the potential for circularities in our existing campus in SYD1.
 Assessed the design implications of integrating battery energy storage systems within our campuses.
 Pioneered the development of AI-ready data centres in APJ, by incorporating liquid cooled IT equipment in ourdevelopments. Refer to case study.
ACTION PLAN
 To explore circularity opportunities in our existing campuses in Singapore and Japan, and to conduct circular
economies assessments in all our new campuses.
 To develop intensity reduction targets for embodied carbon.

Who manages this at
AirTrunk?
Which SDGs does it
contribute to?

Our culture of innovation enables all staff to contribute to and be responsible for innovative initiatives.
Our Head of Innovation and Intelligence leads the innovation strategy with oversight from our Chief Technology Officer
and the Executive team.

59

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices60

INNOVATION AT
AIRTRUNK
AirTrunk Innovation Process

SYD1 Circular Economies Pilot

A strong innovation process helps to optimise the identification, capture
and curation of the best ideas and bring them to life.

To achieve a progressive, more sustainable
way of living for AirTrunk, our communities,
the planet, and future generations, we must
start thinking about how we can reuse, reduce,
recycle, repurpose and rethink finite resources
to their maximum lifetime value.

IDEA GATHERING
1. Build a repository ofinnovation initiatives
combining innovations
in development, leader
aspirations and employee
ideas.

PRIORITISATION

IMPLEMENTATION

2. Apply a scorecard toevaluate the ideas based on
operational criteria.

5. Develop project group andassign responsibilities for
implementation.

3. Prioritise ideas based onscorecard.

6. Regularly collaborate withexecutive stakeholders
to ensure timelines andobjectives are met.

4. Present ideas to executive
stakeholders for strategic
implementation approval.

7. Once implemented,
communicate theinnovation internally andexternally.

Circular economies are markets that give
incentives to reusing products, rather thanscrapping them and extracting new resources.

In FY23, we conducted a pilot at our SYD1
data centre to explore circular economy
opportunities. This included exploring theconnection between SYD1 and surrounding
recycled water facilities and working withlocal authorities to formulate a plan to ensure
circularity with the use of our water.
The pilot was conducted with students fromthe University of Sydney as part of their
Jacaranda Flame Consulting program, as we
continued to support the next generation of
STEM talent.

Sustainability Report FY23

Introduction

EMBODIEDCARBON STRATEGY
Since 2022, all new AirTrunk campus
designs have undertaken embodied carbon
measurement studies with the aim to identify
best-in-class reduction strategies for upfront
and total life cycle emissions. We haveidentified opportunities for improvementof our Scope 3 emissions, and are working
with our general contractors and equipmentvendors to put in place reduction measures.
An essential outcome derived from ourembodied carbon study is the significanceof decreasing the embodied carbon within
MEP equipment.
We continue to work with our suppliers todrive the industry towards measuring anddocumenting the embodied carbon of thefull supply chain by using Environmental
Product Declarations (EPD) or equivalent.
Our strategy involves evaluating carbon
emissions in the initial phase of our projects
and making adjustments and enhancements
to our designs and equipment accordingly.

While this approach has been previously usedin commercial and residential projects giving
us access to benchmarks from these sectors,
the data centre industry does not have wellestablished benchmarking data. This is anarea in which we would like to take the lead.
The next steps include setting up meaningful
reduction targets that can contribute to
the progression of the industry towards an
end goal of Net Zero buildings, considering
challenges such as managing cradle-tocradle data available for many equipment
and products commonly used in theconstruction of data centres.
As part of our studies, we have found thatthe elevated percentage of carbon emissions
that emanate from the equipment that we
use for our customer operations, outnumbers
the emissions generated by the constructionof the buildings themselves, where most of
the emissions are accounted in most of the
non-industrial construction developments.
Therefore, our main focus at AirTrunk is
working with our equipment vendors on ways
to reduce equipment embodied carbon.

Sustainability Approach

PlanetPeopleProgress

Appendices61

Sustainability Report FY23

Development of AI-Ready Data Centres,with Liquid Cooling Being a Facilitating
Technology
AirTrunk is evolving the way its data centres
are designed, built and operated to serve
its customers’ ever-changing needs andrequirements. Key to this is ensuring our data
centres are equipped to manage the increased
load required for AI, machine learning (ML)and high-performance computing (HPC)
applications.
Adopting liquid cooling technology facilitates
the expansion of the AI deployments in asustainable manner. These technologies are
the most suitable cooling systems required tosupport high-density servers that use AI, ML
and HPC applications. Research, design andimplementation of the infrastructure required
to apply these new IT technologies, including
new cooling topologies and associated heatrejection systems, is therefore key to the
future of the development of more sustainable
and more efficient data centres. Foreseeing
an acceleration of the demand for suchtechnologies, AirTrunk has been investing inthis research and development over the past
few years.
Direct-to-chip liquid cooling and immersion
cooling technologies present significant
benefits to data centre operators in termsof cost, operational efficiency, and potential
density of IT load to be deployed.

Introduction

AirTrunk’s First AI-Ready Facility
In January 2023, AirTrunk announced our
expansion into Malaysia with JHB1 whereby
the first direct-to-chip liquid coolingtechnology is to be deployed alongside a
traditional indirect evaporative cooling (IEC)
design.
The liquid cooling technology will enable
AirTrunk customers to deploy high density
racks, reducing energy consumption by up
to 20%.
This cooling solution confirms AirTrunk’scommitment to sustainable development
and supporting the evolution of the industry
as it responds to the demand of AI andmachine learning.
Direct-to-chip

Immersion

10-15%
Energy Saving

15-20%
Energy Saving

Sustainability Approach

PlanetPeopleProgress

Appendices62

Sustainability Report FY23

Introduction

Why it matters?

Sustainability Approach

PlanetPeopleProgress

Appendices63

Everything we do is with one thing in mind: to help our customers grow sustainably.
The success of our business depends on building strong, long-lasting partnerships with our customers.

CUSTOMERSUSTAINABILITY

We are always listening and learning to understand their needs, develop innovative solutions, and make sure they aresatisfied with their customer experience.
How does AirTrunkmanage this?

We support our customers through every stage of the AirTrunk experience – including initial engagement, site selection,
design, development, operations and beyond. This includes:
1. Understanding customer requirements to inform site selection and market strategies;
2. Subject matter expertise on strategic initiatives such as sustainability, innovation and safety; and3. Ongoing collaboration to ensure high customer satisfaction levels and long-term partnerships.

What is our commitment?

Work in partnership with our customers to drive sustainable solutions and consistently high satisfaction.

What is our Target,
Performance and Action
Plan?

TARGET Maintain minimum 8/10 overall customer satisfaction annually.
 Develop a minimum of one sustainable solution in partnership with customers across Planet, People or Progress
topics.
FY23 PERFORMANCE
 Met 100% customer key commitments for projects and services.
 Maintained high customer satisfaction levels throughout APJ with 9/10 overall customer satisfaction and positive
annual growth rates in MW sold.
 Partnered with customers to implement major sustainable solutions in APJ.
ACTION PLAN
 Meet with customers quarterly to discuss, develop and implement sustainable solutions across Planet, People or
Progress topics.

Who manages this at
AirTrunk?
Which SDGs does it
contribute to?

Our customer centric culture empowers AirTrunkers to champion the customer throughout their journey with AirTrunk.
Customer experience is led by the Chief Marketing Officer and AirTrunk executives and managed by the Marketing team.

Sustainability Report FY23

Introduction

POWERFUL
PARTNERSHIPS
AirTrunk maintains deep partnerships with ourcustomers using a multi-layered and multiregion engagement approach across the entire
customer journey.
Rather than engagement being managed
through a sales team, subject matter experts
at AirTrunk and our customers work closely
day-to-day.
For example between:
 AirTrunk’s executives and leaders and acustomer’s strategic sourcing teams;
 Customer Success, Solutions and Service
Delivery relationship leads;
 Sustainability, Energy, Social Impact and
Safety subject matter experts; and Operations teams on the ground at ourdata centres.

Innovating with our Customers
AirTrunk’s customers, some of the world’s
leading technology companies, are global
leaders in sustainability and renewable energy
procurement.
AirTrunk works in close collaboration withcustomers to identify new opportunities thatdrive sustainable innovation, progressively
achieving our shared and ambitious climate
goals.

In FY23, we have worked in partnership withcustomers to: Implement the most energy-efficientconfigurations; recommend the best coolingsolution for the local climate; and select themost efficient technology solutions.
Refer to Energy Management
 Develop a first direct-to-chip liquid coolingtechnology alongside a traditional indirect
evaporative cooling (IEC) design for AirTrunk
JHB1.
Refer to Innovation
 Source hourly RECs from CLP Power toprovide renewable energy matching at
AirTrunk HKG1 for Microsoft.
Refer to Energy Management
 Received customer procurement data ofrenewable energy captured under theirdecarbonisation plan.
Refer to Carbon Management

Sustainability Approach

PlanetPeopleProgress

Appendices64

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

65

CUSTOMERSATISFACTION
AirTrunk is focused on delivering for its customers, with a unique and consistent customer
value proposition. AirTrunk delivers data centre solutions for our customers that are:

Customer Feedback
Extensive partner assessments, undertaken by a number of customers, provide deep insight into
our performance across contracting, operations, engineering, scalability, security, safety, availability,
delivery, and relationship.
In FY23, AirTrunk received industry-leading and above-average scores in these assessments.

FAST +SCALABLE

FLEXIBLE +COST-EFFICIENT

Customer experience training is provided tohelp employees understand the role they playin delivering customer satisfaction.

In the 2023 AirTrunk Employee
Engagement Survey, 98% of
respondents stated that customer
satisfaction is a key priority for
AirTrunk and 91% understood therole they play in delivering customer
satisfaction.
AirTrunk measures customer satisfaction
at various points throughout the customer
journey to optimise the customer experience.

TRUSTED +SECURE

SAFE +SUSTAINABLE

Customer Satisfaction Metric
AirTrunk’s marketing team, with global
research provider IPSOS, measure customer
satisfaction and feedback when customers areonboarded to an AirTrunk data centre.

FY23 RESULTS
9/10
Overall customer satisfaction (avg)

9/10Overall ease of working (avg)

01.

02.

“Proactive engagement onsustainability with key stakeholders.”“Communication continues to
be AirTrunk’s strength.”

03.

04.

“Good flexibility working together toachieve our requirements.”“AirTrunk team has been very
proactive, responsive and responsible
with the whole project delivery.”Above & Beyond

Dynamic

Transparent

Responsive

Sustainability Report FY23

Introduction

Why it matters?

SUSTAINABLE
SUPPLY CHAIN

Sustainability Approach

PlanetPeopleProgress

AppendicesGreater environmental stewardship and social responsibility cannot happen in isolation. It requires deep stakeholder
engagement and collaboration, including with suppliers.
Supply chain sustainability places focus on maintaining environmental and societal values including but not limited toclimate change, modern slavery, human rights and anti-corruption.

How does AirTrunkmanage this?

AirTrunk has implemented two key programs to ensure a sustainable supply chain: Supply Chain Assurance (SCA) Program; and Supplier Relationship Management (SRM) Program.
Our suppliers are also expected to conduct business in accordance with the Supplier Code of Conduct and set similar
expectations with their own supply chain.

What is our commitment?

To maximise our positive impact through resilient, responsible, and sustainable supply chain partners and practices.

What is our Target,
Performance and Action
Plan?

TARGET 100% of AirTrunk suppliers screened through SCA program by 2025.
 100% of Strategic suppliers engaged through the SRM program by 2025.
FY23 PERFORMANCE Screened 92% of existing and 100% of new strategic development suppliers through the newly developed SCA
Program.
 Launched SRM Program to enable a stronger engagement on ESG and Innovation.
 Implemented a type III environmental product declaration clause for all OSE category specification.
ACTION PLAN
 Expand SCA program to cover 100% of AirTrunk suppliers.
 Continued development of the SRM program, including addition of performance metrics, collaboration strategies,
and risk mitigation approaches.
 Equip all suppliers with materials and tools to ensure comprehension of SCA program standards and expectations.
 Require Environmental Product Declarations (EPD) for all equipment suppliers Continuously collect and analyse data to address any gaps, issues, and reward suppliers for good performance.

Who manages this at
AirTrunk?
Which SDGs does it
contribute to?

It is the responsibility of all employees at AirTrunk for ensuring suppliers share our commitment to working in a reliable
and responsible manner by ensuring they follow established policy and processes. The Supply Chain strategy is led by
AirTrunk’s Head of Procurement with support from Executives.

66

Sustainability Report FY23

Introduction

Sustainability Approach

SUPPLY CHAINRESPONSIBILITY

PlanetPeopleProgress

Appendices67

1. Supplier Selection and Evaluation
Our procurement team conducts thorough evaluations of potential
suppliers with a defined set of up to 40 questions assessing ESG, Safety,
Quality, Security and Financial Strength. All suppliers are classified as
low, medium or high risk, upon completion of thorough due diligence by
subject matter experts.
2. Ethical and Social Standards
AirTrunk actively engages with suppliers to monitor their compliance withlabour laws and standards via our SCA program. We work collaboratively
to address any areas for improvement. By fostering a culture of respect
and responsibility throughout our supply chain, we aim to protect all
stakeholders involved in our operations.

To promote responsible and sustainable practices, AirTrunk has acomprehensive engagement strategy with suppliers that includes:

AirTrunk Approach to Maintaining a Sustainable Supply Chain

Supply Chain Assurance(SCA)

Supplier RelationshipManagement (SRM)

Systems andAnalysis Identification, assessmentand management of key
risks in the supply chain; Qualification of suppliers
against key ESG criteria;
 ESG expectation setting; and Ongoing monitoring ofcompliance.

 Clear structured frameworkproviding clarity on supplierengagements, driving
performance; Segmentation of suppliers
based on criticality andstrategic importance;
 Scorecard/KPI reviews; and 360 feedback - supplier/
AirTrunk.

 Build and maintenance ofsystems/tools to enable the
SCA and SRM programs tobecome fully sustainable;
 Internal and external suppliercollaboration platforms foraddressing initiatives and
ESG criteria; and Insightful reporting throughinformed analysis – routine
and ad hoc.

3. Environmental Impact Mitigation
As part of our sustainability efforts, we collaborate with suppliers tominimise the environmental footprint of our products and services.
We prioritise suppliers that have implemented robust environmental
management systems and seek to source materials and components thatadhere to eco-friendly standards.
4. Innovation and Technology
To stay at the forefront of sustainability practices, AirTrunk actively seeksinnovative and low carbon technologies from our suppliers. Embracing
low carbon technologies can lead to significant reductions in greenhousegas emissions, pollution, and waste generation.
5. Long-term Partnerships
AirTrunk believes in building strong, long-term partnerships with our
suppliers based on mutual trust and shared sustainability goals.
Our initial supplier onboarding questionnaire (SOQ) is designed tocarefully gauge our supplier’s status with regards to ESG, Safety, Quality,
Security and Financial Strength. Moreover, regular communication andcollaboration through the SRM program enable us to maintain traction onthese areas, track progress, identify areas for improvement, and celebrate
successes together.
6. Continuous Improvement and ReportingAs part of our commitment to sustainability, AirTrunk continuously
reviews and refines our engagement strategies with suppliers. Our SRM
program facilitates quarterly check-ins with our key suppliers to drive
continuous improvement in the key areas mentioned. Additionally, we
report transparently on our supply chain’s sustainability performance in
our annual sustainability report. This level of disclosure demonstrates ourdedication to being accountable for our actions and inspires others to join
us in our sustainability journey.

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices68

ADVANCING SUPPLIERCOMPLIANCE AND ACCOUNTABILITY
AirTrunk takes its due diligence obligations in the supply chain seriously and employs a range ofmeasures and concepts to ensure compliance and accountability.

Supplier Onboarding
and Monitoring

Code of Conduct andSupplier Agreements

Assessment and
On-Site Audits

Collaboration
and Transparency

AirTrunk conducts thorough onboarding
screenings to assess suppliers’ credentials,
capabilities, and adherence to sustainability
principles. This onboarding and monitoringprocess includes a careful initial evaluationof the supplier’s ESG performance and is reassessed annually or bi-annually thereafter.
Moreover, as soon as onboarded, a supplier is
continuously screened by third-party bureau
services for notifications on adverse media,
sanctions and other applicable ESG criteria.
In a scenario where a supplier’s shortcomings
are deemed to be capable of improvement,
AirTrunk provides education and guidance,
to enable key partners to fall in line with ourrequirements.

To establish expectations and requirements,
AirTrunk communicates its sustainability
standards through our Supplier Code of
Conduct. This Code outlines the ethical,
environmental, and social responsibilities that
our suppliers must adhere to when working
with us. We have also recently incorporated
sustainability commitments into formal
supplier agreements. These agreements
are still at early stage but stipulate specificsustainability performance expectations
and KPIs, creating a framework for ongoingcompliance and collaboration.

For selected key suppliers, AirTrunk has
conducted annual on-site visits to evaluate
supplier operations, working conditions,environmental management systems, andsocial impact. These on-site assessments
strive to provide valuable evidence tovalidate supplier claims, identify areas for
improvement, and ensure that our suppliersaligned with our requirements.

We encourage suppliers to share theirsustainability goals, progress, and challenges,
and we, in turn, provide feedback and support
to drive positive change. This transparency
promotes mutual accountability and reinforces
our shared commitment to sustainability.

Sustainability Report FY23

TRANSPARENCY,
BUSINESSETHICS, AND
INTEGRITY

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices69

Why it matters?

Operating with transparency, integrity and ethically is fundamental for a company’s long-term success. Operating inthis way inspires a healthy, safe, and inclusive workplace culture, and fosters positive collaboration and productivity.

How does AirTrunkmanage this?

Our culture is underpinned by strong values, clear rules and standards as well as accessible reporting mechanisms that
reduce risk, promote compliance and, most importantly, sets the foundation for robust relationships with our people,
customers and partners.
This culture is driven from the top-down with executives and leaders setting the example.

What is our commitment?

Act ethically, with integrity, and accountability in all business activities.

What is our Target,
Performance and Action
Plan?

TARGET Conduct a corporate governance review and implement key recommendations by FY24.
 Maintain ESG transparency and accountability following global best practices.
FY23 PERFORMANCE Achieved Platinum EcoVadis medal performance, CDP B Score and GRESB 5-STAR results.
 Published FY23 Climate and Nature-Related Risks Report outlining our commitments to managing climate andnature-related risks and opportunities.
 Launched Community Commitments and Sustainable Finance pages on our corporate website for increasedtransparency and accountability.
ACTION PLAN
 Conduct a corporate governance review and implement key recommendations in FY24.
 Maintain ESG transparency and accountability through the continual publication of performance and targets in ourannual Sustainability Report as well as CDP, GRESB, EcoVadis and UNGC submissions.

Who manages this at
AirTrunk?

The Board and the Leadership team play a crucial role in setting the standards and expectations for transparency,
ethics, and integrity within the company. By demonstrating a commitment to these values at the highest level, theycreate a positive and ethical corporate culture from the top that cascades throughout the organisation.
Transparency, acting ethically and with integrity is the responsibility of all AirTrunk employees.

Which SDGs does it
contribute to?

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices70

AIRTRUNKCORPORATE GOVERNANCE
We aim to conduct our business in a
responsible and ethical manner, ensuring
effective functioning of our Board, itscommittees and the company. We recognisethat having a strong foundation in corporate
governance principles is key to maintaining
our investors’ and stakeholders’ trust in ourcompany’s direction, relationships, and goals.

To ensure effective oversight over AirTrunk’sbusiness activities, there are three delegatedBoard committees – Audit Committee; People
and Culture Committee; EHS, Construction
and Risk Committee. These committees haveclear and defined roles covering key aspects ofour business:

BOARD COMMITTEES
Audit Committee
To support the Board
in discharging its
responsibilities in a rangeof matters such as financial
reporting, budgets, audits,and compliance.

People and Culture
Committee

EHS, Construction
and Risk Committee

To support the Board
in discharging its
responsibilities in relation
to policies, remuneration,
performance and benefits.

To support the Board
in discharging its
responsibilities in various
areas including healthand safety, construction,
procurement and risk
management.

A review of our board and committee
governance is currently being conducted withkey recommendations to be implemented in
FY24.
Our Directors have diverse specialisations
and have extensive leadership experiencein associated industries and countriesof operations. As such, they are able toleverage their diverse backgrounds, skills,
and experiences to oversee the Company’s
strategy and evaluate risk and performance for
AirTrunk’s long-term success.

Conflicts of interest are handled in accordancewith AirTrunk’s governance procedures and incompliance with local company laws. At Board
level, each Director is required to disclose thenature and extent of any personal conflict ofinterest. If appropriate, they may be abstained
from voting and/or excluded from being
present at the meeting.
The AirTrunk company secretarial team also
maintains a conflict-of-interest register,which captures other directorships of AirTrunk
directors. This register is updated regularly.

Our Board is comprised of:
2 Executive Directors

3 Investor Nominee Directors

1 Independent Director

Sustainability Report FY23

Introduction

Sustainability Approach

UPHOLDING THE HIGHEST
LEVELS OF INTEGRITY
Leadership and Setting The
Tone
Our leadership team regularly
reinforces AirTrunk’s commitment toacting against misconduct, holding
people accountable regardless of
their position in the organisation
through regular communication,and fostering a workplace where
employees feel empowered to speak
up and act against wrongdoing.

Regular and Open
Communication
AirTrunk places great emphasis
on clear and transparent
communication with key
stakeholders, actively maintaining
open communication channels with
our investors, lenders, customers,
employees, suppliers and ourcommunities. Our official LinkedIn
account and corporate website
also serve as regular channels forsharing information.

Training
AirTrunk requires all employees toacknowledge their understandingof and adherence to our policies
upon joining the organisation andon an annual basis. We also conduct
online training programs on specificintegrity and compliance topics

as required. These courses are
periodically updated and reviewed
to ensure their relevance andappropriateness.
For example, in FY22, 100% of
employees received training on theanti-bribery and anti-corruption
policy. In FY23, 100% of employees
completed workplace behaviour
training, covering a comprehensive
framework that addresses
workplace bullying, discrimination,and sexual harassment. It also
explained crucial concepts likedirect and indirect discrimination,
reasonable management
actions, the responsibilities ofboth employers and employees
concerning such conduct, and thelegal implications associated withthese behaviours.

Enabling a ‘Speak Up’ Culture
AirTrunk’s ‘Speak Up’ culture
ensures that individuals are
comfortable and can confidentiallyand anonymously disclose
suspected or actual serious
irregularities and wrongdoing. Team
members have multiple avenues
through which they can reportviolations, including reaching out
directly to the Whistleblowing
Officer and/or the Alternative
Whistleblowing Officer, by phone orby email , or by submitting a reporton the online portal.

Celebrating Role Models andExemplary Behaviour
Our Culture Champs recognition
program recognises employees who
demonstrate living and breathing
our company values – Above &Beyond, Responsive, Dynamic
and Transparent.

Policies that Define ourStandard
AirTrunk implements a number ofpolicies that set the behaviouralexpectations for all employees
and suppliers when it comes toupholding integrity in their roles.
These include:a. Appropriate Workplace
Behaviour*b. Supplier Code of Conductc. Anti-Bribery and Anti-Corruption
d. Code of Ethics and BusinessConduct*e. Modern Slavery
f. Human Rights
g. UNGC Principles* Note that a. and d. are not available forpublic access.

PlanetPeopleProgress

Appendices

71

72

APPENDICES

Sustainability Report FY23

Introduction

Sustainability Approach

APPENDIX 1:
SUSTAINABILITY DATA

The reporting scope under Planet consistsof AirTrunk data centres and offices
operational for at least 12 months.

PLANET INDICATORS

Reporting scope for data centres:

 FY21: SYD1, MEL1
 FY22: SYD1, SYD2, MEL1, SGP1, HKG1
 FY23: SYD1, SYD2, MEL1, SGP1, HKG1,
Unit

FY21

FY22

FY23

Operating Power Usage Effectiveness (PUE)1

-

1.37

1.35

1.32

Electricity consumption matched with renewable energy

%

-

60%

49%

Energy consumption matched/to be matched with renewableenergy by customers2

%

-

46%

34%*

Renewable energy sourced by AirTrunk

%

-

14%

15%

Electricity consumption not matched with renewable energy

%

-

40%

51%

CARBON MANAGEMENT

Unit

FY21

FY22

FY23

Total Scope 1 emissions3

tCO2e

562

1,442

2,958

Total Scope 1 carbon offsets acquired

tCO2e

562

1,442

2,958

Total Scope 2 emissions (location-based)4

tCO2e

156,616

294,930

213,693

Total Scope 2 emissions (market-based)5tCO2e

155,027

257,893

213,600

Total Scope 3 emissions

tCO2e

-

201,022305,428

Embodied carbon - Building Elements6,8

tCO2e

-

186,624

45,518

Embodied carbon - MEP Systems Specific to Data Centre7,8

tCO2e

-

13,87029,289Business travel9

tCO2e

-

412

2,087

Employee commuting10

tCO2e

-

59

-

Working from home11

tCO2e

-

57

69

*Projected

PeopleNOTES:

PLANET INDICATORSENERGY MANAGEMENT

PlanetTOK1

Reporting scope for head offices: FY21: SYD-HQ, SGP-HQ FY22: SYD-HQ, SGP-HQ FY23: SYD-HQ, SGP-HQ, TOK-HQ
1. Based on the Green Grid PUE definition,
this reflects the ratio of total facilityenergy consumption at high-voltage
utility meters to IT energy consumption
at low-voltage data hall meters.
Transformation losses and other loads
that contribute to the facility energy
consumption, such as technical andoffice spaces, are included in the PUE
calculation.
2. Electricity consumption which has been
confirmed matched with renewableenergy by customers. Due to timelags of data availability the purchaseof renewable energy for FY23 will beverified in the following year. In case of
any changes an annual restatement will
be made.
3. Scope 1 emissions from the combustionof diesel fuel for backup generators,
transformer gas leakages (SF6) andrefrigerants leakages (HFCs) fromchillers. The GHG emissions from diesel
and SF6 are calculated based on the
Method 1 from the National Greenhouseand Energy Reporting (NGER) guidelines.
The GHG emissions from refrigerants
gases are calculated based on the
Simplified Material Balance Method,from the U.S. EPA Center for Corporate
Climate Leadership’s (The Center) GHG
guidance. Source of the GWP rates used:
IPCC Assessment Report (AR4 for FY21,
AR5 for FY22 and FY23).

Progress

Appendices73

4. Scope 2 location-based method reflects
the average GHG emissions intensityfrom grids on which energy consumption
occurs, and it is calculated using thenational grid-average emission factor
data. The emission factors are updated
annually in accordance with eachcountry-specific source. Source ofemission factors: NGER for Australia
and Energy Market Authority (EMA) for
Singapore and CLP Power Hong Kongfor Hong Kong. Starting FY23, Scope 2
location-based emissions related tocustomer’s electricity consumption
are reclassified to Scope 3 Indirect
Emissions from Customer Electricity
Consumption (location-based). Refer
to Scope 2 Indirect Emissions for moredetails.
5. Scope 2 market-based method
includes consideration of contractual
arrangements under which AirTrunkprocures power from specific suppliers
or sources, such as green tariff andrenewable energy certificates (RECs).
A hierarchy of market-based electricity
emission factors is established in orderof the preference: emission factor fromdirect energy contracts, emission factor
from energy attribute certificates,
supplier-specific emission factor,
residual mix factor, national or regionalemission factor. The emission factors
are ranked based on data availability
and accuracy for the calculation ofmarket-based emissions.
For MEL1, SYD1, SYD2, the residual
mix factor was applied in FY22. Thismethodology is discontinued as it isbased on the national grid emission
factor, and is not comparable withthe location-based method where
regional emission factors are available.
Therefore, in FY23, we applied theregional grid average emission factor.
Starting FY23, Scope 2 market-based
emissions related to customer’s
electricity consumption are reclassified
to Scope 3 Indirect Emissions from
Customer Electricity Consumption(market-based).

Sustainability Report FY23

Introduction

Sustainability Approach

CARBON MANAGEMENT

Unit

FY21

FY22

FY23

Indirect Emissions from Customer Electricity Consumption(Location-based)12,4

tCO2e

-

-

228,465

Indirect Emissions from Customer Electricity Consumption(Market-based)12

tCO2e

-

-

0*

WATER STEWARDSHIP
Water Usage Efficiency (WUE)

13

Unit

FY21

FY22

FY23

L/kWh

0.73

0.84

0.94

Recycled Water (NEWater @ SGP1)

%

-

-

58%

Municipal Water

%

-

-

42%

WASTE MANAGEMENT

Unit

FY21

FY22

FY23

Waste Generated

tonne

-

-

26.82

Landfill

%

-

-

13.9%

Incineration

%

-

-

0%

Compost

%

-

-

8.1%

Recycle

%

-

-

19.8%

Waste-to-Energy (WTE)

%

-

-

56.8%

Unknown

%

-

-

1.4%

Diversion Rate

%

-

-

27.9%

14

Waste Breakdown per End-of-Life*Projected

PlanetPeople6. Embodied carbon – Building Elements
refers to the emissions from theconstruction of buildings. The
calculation uses an emission factor thatcovers the core and shell of our data
centres.
7. Embodied carbon – MEP Systems
specific to Data Centres refers to theemissions from the plant and equipment
deployed by AirTrunk in all our data
centres and offices. The calculation
uses an emission factor that is applied
to the total MW of equipment deployed.
8. Beyond the FY22 and FY23 reporting
scopes, the calculation for embodied
carbon covers SYD3, TOK1, TOK2 andTOK-HQ starting FY22, and HKG2 andJHB1 starting FY23.
9. Business travel calculation includes
corporate flights and hotel nights
stayed. In FY23, taxi bookings forbusiness purposes are reclassified from
employee commute and documented inbusiness travel.
10. Employee commute includes ridesharebookings, fuel consumption for traveland public transport for businesspurposes. Ridesharing was the primarymode of transport for our employees in
FY22 as reimbursement was provided
as a precautionary measure against
COVID-19. Starting FY23, employees
rideshare expenses are no longer
reimbursable, resulting in the usageof other modes of transportation thatare not captured this year. Moving
forward, we are defining a methodology
to accurately calculate the emissions
through an employee commute survey.
11. Employee working from home
calculation is calculated using astandard factor applied to each
employee per day. This factor takes
into account the IT consumption,
including a computer plus monitors,
general consumption such as heating

Progress

Appendices74

and lighting, using appliances such as
kettles, and also water, wastewater andwaste generation.
12. Starting FY23, Scope 2 emissions
related to customer electricity
consumption at AirTrunk data centres(where ownership has been confirmed)
are reclassified to Scope 3.
We report “Indirect Emissions from
Customer Electricity Consumption”
using the location-based method
when customers take ownership of theelectricity consumption.
We also report the emissions using
the market-based method to reflect
customer’s matching of electricity
consumption with renewable energy,
which we verify through customer
procurement data the following year.
13. WUE (Green Grid & ISO/IEC CD 30134)
is an industry recognised metric thatassesses water consumption in relation
to the energy consumed within a facility.
14. The reporting scope covers MEL1 and
SGP1 in FY23. It refers to all nonconstruction waste generated at site
under AirTrunk’s control, which includes
general, recycling, and organic waste.

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

75

PEOPLE INDICATORSTALENT DEVELOPMENT, DIVERSITY, EQUITY AND INCLUSIONEMPLOYEE INFORMATION1

FY21

FY22

FY23

Headcount

DIVERSITY AND INCLUSION1

FY21

FY22

FY23

Gender mix by management level (% women)

Total headcount as of 30 June

146

187

235

Board

38%

38%

50%

of which permanent employees

144

185

225

Total employees

27%

32.6%

37.8%

of which fixed-term employees

2

2

10

Leadership

22%

25%

28%

Individual contributor

28%

35%

47%

Total employees by gender
Men

105

126

140

Total employees by age group

Women

39

59

85

<30 years old

16

19

17

30-49 years old

114

145

186

14

21

22

Total employees by region
Australia

87

108

127

>50 years old

Singapore

36

46

56

Return rate for employees who took parental leave (%)

Japan

14

24

34

Men

100%

100%

100%

Hong Kong

7

7

7

Women

100%

100%

100%

Malaysia001

Total employees

100%

100%

100%

Full-time (Men)

105

126

140

Part-time (Men)

0

0

0

Full-time (Women)

37

57

83

Part-time (Women)

2

2

2

Leadership

36

39

46

Individual contributor

108

146

179

Total employees by employment type and by gender

Total employees by management level

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

76

PEOPLE INDICATORSNEW EMPLOYEE HIRES1

FY21

FY22

FY23

New employee hires
Total new employees hires

EMPLOYEE TURNOVER1

FY21

FY22

FY23

7

20

28

Employee turnover
58

61

68

New employee hires by age group

Total employee turnover
Employee turnover by age<30 years old

8

10

10

<30 years old

0

3

3

30-49 years old

43

42

55

30-49 years old

7

13

21

>50 years old

7

9

3

>50 years old

0

4

4

New employee hires by gender

Employee turnover by gender

Men

44

34

31

Men

4

13

17

Women

14

27

37

Women

3

7

11

New employee hires by region

Employee turnover by region

Australia

25

32

36

Australia

2

12

16

Singapore

15

15

16

Singapore

2

4

7

Japan

13

12

15

Japan

0

2

5

Hong Kong

520Hong Kong

3

2

0

Malaysia

0

0

1
NOTES:

CONTRACTORS2

FY22

FY23

Working hours3

3,938,225

2,707,474

2,159

1,388

FTE (full-time equivalent)4

1. All figures except Headcount are based on permanent employees.
In FY23, we updated our reporting approach to exclude fixed-term contract employees to align with the reporting
scope of our SLL. All the FY21 and FY22 figures are revised compared to the previous sustainability reports, to exclude
the 2 fixed-term employees each year from talent development, diversity, equity and inclusion figures.
2. Includes construction contractors at our data centres in development, and operations contractors at our data centres
in operation, such as security and facility management teams.
3. Working hours for construction contractors.
4. 1,388 FTE based on 38h work week over 48 weeks.

Sustainability Report FY23

Introduction

Sustainability Approach

FY21

FY22

FY23

Total Recordable Incident Rate (TRIR)2 – Employees

0

0

0

Total Recordable Incident Rate (TRIR)2 – Contractors

0.50

0.41

0.37

Lost Time Incident Rate (LTIR) – Employees

0

0

0

Lost Time Incident Rate (LTIR)3 – Contractors

0.14

0.05

0.07

0

0

0

-

-

0

0

0

0

PlanetPeopleProgress

Appendices

PEOPLE INDICATORSENVIRONMENTAL HEALTH AND SAFETY1

3

Total number of fatalities4
Total number of cases of recordable work-related ill health
Total number of health and safety regulatory notices issued

5

COMMUNITY IMPACT

FY21

FY22

FY23

% of our markets with minimum of one CSR activity6

100%

100%

100%

NOTES:
1. AirTrunk uses incident rates as a guide only and recognises that use of incident rates
for measuring safety performance is: Not predictive of fatalities; subject to randomvariation, and; statistically invalid and inaccurate as a single number or multiple
decimal places (Hallowell, M., et. al. 2020. The Statistical Invalidity of TRIR as a
Measure of Safety Performance. Construction Safety Research Alliance).
2. TRIR provides the number of recordable injuries per 200,000 work hours. Recordable
injuries refer to medical treatments, restricted work injuries and lost time injuries.
3. LTIR provides the number of injuries resulting in more than 1 day lost per 200,000
work hours.
4. Fatality events refer to any death associated with the conduct of work for AirTrunkwork scopes.
5. Regulatory notices refer to any notice issued to AirTrunk by a Regulator or Statutory
Authority for any breach of legislation, licences or permits associated with AirTrunkwork scopes in the local jurisdiction.
6. Community engagement and CSR programs in markets where our data centres havebeen operating for more than 12 months.
7. Employees and contractors as of 30 June of the reporting year who have received
and acknowledged annual security awareness training within the required deadlines.

CYBER SECURITY AND DATA PROTECTION

FY21

FY22

FY23

100%

98%

100%

Customer data security breaches8

0

0

0

Regulatory notices/fines around data privacy and confidentiality9

0

0

0

Completion of security awareness training

7

8. Customer data security breaches refer to any identified leaks, thefts or loss ofcustomer data.
9. Written statements received from regulatory or similar official body that identify
breaches of customer privacy.

77

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

PROGRESS INDICATORSCUSTOMER SUSTAINABILITY

FY21

FY22

FY23

Average annual growth rate of the Top 5 customers from inception in MW sold1

58%

53.8%

56%

SUSTAINABLE SUPPLY CHAIN

FY21

FY22

FY23

% of new development suppliers that were screened using ESG criteria

-

-

100%

% of strategic development suppliers3

-

-

100%

% of all other development suppliers

-

-

100%

% of existing development suppliers that were screened using ESG criteria2

-

-

33%

% of strategic development suppliers3

-

-

92%

% of all other development suppliers

-

-

20%

FY21

FY22

FY23

Completion of workplace behaviour training

-

-

100%

Confirmed incidents of corruption

-

-

0

2

TRANSPARENCY, BUSINESS ETHICS AND INTEGRITY
4NOTES:
1. Average annual growth rate from first contract signing in 2016.
2. Development suppliers denotes those suppliers, most notably development
contractors, equipment suppliers and consultants, who actively contribute to thedesign, supply, construction and commissioning of data centre projects, in the lead
up to customer RFS.
3. Strategic development suppliers denotes those in which the supply goods andservices are deemed undeniably critical to the success of AirTrunk’s business,
including key development contractors and equipment suppliers. Moreover, they are
identified as those which are required to demonstrate a shared and common goalwith AirTrunk in relation to supply chain sustainability.
4. Employees as of 30 June of the reporting year who have received and acknowledged
workplace behaviour training within the required deadlines.

78

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleAPPENDIX 2:
GRI CONTENT INDEXThis report has been prepared in accordance with the GRI Standards and its latest Universal Standards.
Our GRI Content Index specifies each of the GRI Standards disclosures included in this FY23 Sustainability Report.

STATEMENT OF USE

AirTrunk has reported in accordance with the GRI Standards for the period 1 July 2022 to 30 June 2023 (FY23).

GRI 1 USEDGRI 1: Foundation 2021

APPLICABLE GRI SECTOR STANDARD(S)

None

GRI
STANDARDPAGE

DISCLOSUREOMISSIONREQUIREMENT(S) OMITTED

GENERAL DISCLOSURE
GRI 2:
GeneralDisclosures2021

2-1 Organisational details

6

2-2 Entities included in theorganisation’s sustainability
reporting

5-6

2-3 Reporting period,
frequency and contact point5

2-4 Restatements of
information

5, 75-76

2-5 External assurance

5, 88-89

2-6 Activities, value chain andother business relationships

6, 67-68

2-7 Employees

46, 75

2-8 Workers who are not
employees

76

2-9 Governance structure andcomposition

12, 70REASONEXPLANATION

Progress

Appendices

79

Sustainability Report FY23

GRI
STANDARDDISCLOSURE

Introduction

PAGE

Sustainability Approach

PlanetREASON

2-18 Evaluation of theperformance of the highest
governance bodya, b, cConfidentiality constraints

2-19 Remuneration policiesa, bConfidentiality constraints

2-20 Process to determine
remunerationa, bConfidentiality constraints

2-21 Annual totalcompensation ratio

a, b, cConfidentiality constraints

12, 702-11 Chair of the highest
governance body

12, 702-12 Role of the highest
governance body inoverseeing the managementof impacts

12, 702-13 Delegation of
responsibility for managing
impacts

12, 702-14 Role of the highest
governance body insustainability reporting12

2-15 Conflicts of interest

70

2-16 Communication ofcritical concerns

12, 70-71

2-17 Collective knowledge ofthe highest governance body

12, 702-22 Statement onsustainable development
strategy

4

Progress

Appendices80

OMISSIONREQUIREMENT(S) OMITTED

2-10 Nomination andselection of the highest
governance body

PeopleEXPLANATIONAs a privately owned company, AirTrunk does not
publish any information regarding the remunerationor performance of its Board.

Sustainability Report FY23

GRI
STANDARDDISCLOSURE

Introduction

PAGE

Disclosed throughout the
FY23 Sustainability Reportacross our three pillars:
Planet, People, Progress.
Website: Policies and Reports

2-24 Embedding policy
commitments

Disclosed throughout the
FY23 Sustainability Reportacross our three pillars:
Planet, People, Progress.

2-25 Processes to remediate
negative impacts

Disclosed throughout the
FY23 Sustainability Reportacross our three pillars:
Planet, People, Progress.

2-26 Mechanisms for seeking
advice and raising concerns

Website: Global
Whistleblowing Policy

2-27 Compliance with laws
and regulations

In FY23, there were no
instances of non-compliancewith laws in any material
respect.

2-28 Membershipassociations

11

2-29 Approach to stakeholder
engagement

142-30 Collective bargaining
agreements

As of 30 June, 2023, no
AirTrunk employees arecovered by collective
bargaining agreements.

PlanetPeopleOMISSIONREQUIREMENT(S) OMITTED

2-23 Policy commitments

Sustainability Approach

REASONEXPLANATION

Progress

Appendices81Sustainability Report FY23

GRI
STANDARDDISCLOSURE

Introduction

PAGE

Sustainability Approach

PlanetPeopleProgress

Appendices82

OMISSIONREQUIREMENT(S) OMITTEDREASONEXPLANATIONa, b, c, d, eConfidentiality constraintsaConfidentiality constraints

As a hyperscale data centre, our metric for leasing
is in megawatts (MW). As such we keep our leased
capacity, and inversely our vacant capacity,
confidential while making our total designed
capacity known. This is comparable to how an officelandlord keeps their leased capacity confidential,
while the design of the building and number offloors is made public so it can be observed.

MATERIAL TOPICSGRI 3:
Material
Topics 2021

3-1 Process to determinematerial topics

9

3-2 List of material topics

9

ENERGY MANAGEMENTGRI 3:
Material
Topics 2021

3-3 Management of material
topicsGRI 302:
Energy 2016

302-1 Energy consumption
within the organisation
302-5 Reductions in energy
requirements of products andservices

10, 15, 22-25, 73

22-25, 73

By making our total electricity consumption known
alongside our portfolio level PUE, we inadvertently
give away confidential information as IT equipment
power at a portfolio level can be discerned when
two elements from the formula are known.
302-3 Energy intensity

22-25, 73

Sustainability Report FY23

GRI
STANDARDDISCLOSURE

Introduction

PAGE

GRI 3:
Material
Topics 2021

3-3 Management of material
topics10, 15, 26-31, 73-74

GRI 305:
Emissions2016

305-1 Direct (Scope 1)
GHG emissions

26-31, 73-74

305-2 Energy indirect(Scope 2) GHG emissions

26-31, 73-74

305-3 Other indirect (Scope 3)
GHG emissions

26-31, 73-74

305-5 Reduction of GHG
emissions26-31, 73-74

WASTE MANAGEMENTGRI 3:
Material
Topics 2021

3-3 Management of material
topics10, 15, 36-38, 74

GRI 306:
Waste 2020306-1 Waste generation andsignificant waste-related
impacts

36-38, 74

306-2 Management ofsignificant waste-related
impacts

36-38, 74

306-3 Waste generated

36-38, 74

306-4 Waste diverted from
disposal

36-38, 74

PlanetPeopleOMISSIONREQUIREMENT(S) OMITTEDCARBON MANAGEMENT

Sustainability Approach

REASONEXPLANATION

Progress

Appendices83Sustainability Report FY23

GRI
STANDARDDISCLOSURE

Introduction

PAGE

Sustainability Approach

PlanetPeopleProgress

Appendices84

OMISSIONREQUIREMENT(S) OMITTEDREASONEXPLANATIONa, b, cConfidentiality constraints

As a hyperscale data centre, our metric for leasing
is in megawatts (MW). As such we keep our leased
capacity, and inversely our vacant capacity,
confidential while making our total designed
capacity known. This is comparable to how an officelandlord keeps their leased capacity confidential,
while the design of the building and number offloors is made public so it can be observed.

WATER STEWARDSHIPGRI 3:
Material
Topics 2021

3-3 Management of material
topics10, 15, 32-35, 74

GRI 303:
Water andEffluents 2018

303-1 Interactions with water
as a shared resource

32-35

303-2 Management of water
discharge-related impacts

Water used in our data
centres is discharged into
the public sewerage system.
The ratio of wastewater towater that comes into site
is estimated or metered by
the local water authority.
AirTrunk works closely withour contractors during
the construction phase to
track the quality of water
discharged and prevent
pollution.

303-3 Water withdrawal

34, 74

By making our total water withdrawal known,
alongside our portfolio level WUE, we inadvertently
give away confidential information as IT equipment
power at a portfolio level can be discerned when
two elements from the formula are known.

Sustainability Report FY23

GRI
STANDARDDISCLOSURE

Introduction

PAGE

GRI 3:
Material
Topics 2021

3-3 Management of material
topics10, 16, 40-44

GRI 403:
Occupational
Health and
Safety 2018403-1 Occupational healthand safety management
system40-44

403-2 Hazard identification,risk assessment, and incident
investigation

40-44

403-3 Occupational healthservices

40-44

403-4 Worker participation,
consultation, andcommunication on
occupational health andsafety40-44

403-5 Worker training on
occupational health andsafety40-44

403-6 Promotion of worker
health40-44, 48

403-7 Prevention andmitigation of occupational
health and safety impacts
directly linked by business
relationships

40-44

403-8 Workers covered byan occupational health andsafety management system

40-44

403-9 Work-related injuries

40-44, 77

PlanetPeopleOMISSIONREQUIREMENT(S) OMITTEDENVIRONMENTAL HEALTH AND SAFETY

Sustainability Approach

REASONEXPLANATION

Progress

Appendices85

Sustainability Report FY23

GRI
STANDARDDISCLOSURE

Introduction

PAGE

GRI 3:
Material
Topics 2021

3-3 Management of material
topics10, 16, 45-50

GRI 401:
Employment2016

401-1 New employee hires
and employee turnover47, 76401-3 Parental leave75

GRI 405:
Diversityand Equal
Opportunity
2016

405-1 Diversity of governancebodies and employees

46, 75

COMMUNITY IMPACTGRI 3:
Material
Topics 2021

3-3 Management of material
topics10, 16, 51-54

GRI 413:
Local
Communities
2016413-1 Operations with local
community engagement,
impact assessments, anddevelopment programs

51-54, 77

CYBER SECURITY AND DATA PROTECTION
GRI 3:
Material
Topics 2021

3-3 Management of material
topics10, 16, 55-57

GRI 418:
CustomerPrivacy 2016418-1 Substantiatedcomplaints concerning
breaches of customer privacy
and losses of customer data

55, 77

3-3 Management of material
topics10, 17, 59-62

INNOVATIONGRI 3:
Material
Topics 2021

PlanetPeopleOMISSIONREQUIREMENT(S) OMITTEDTALENT DEVELOPMENT, DIVERSITY, EQUITY AND INCLUSION

Sustainability Approach

REASONEXPLANATION

Progress

Appendices86Sustainability Report FY23

GRI
STANDARDDISCLOSURE

Introduction

PAGE

GRI 3:
Material
Topics 2021

3-3 Management of material
topics10, 17, 63-65

Not applicable

Average annual growth rateof the Top 5 customers frominception in MW sold63, 78SUSTAINABLE SUPPLY CHAIN
GRI 3:
Material
Topics 2021

3-3 Management of material
topics10, 17, 66-68

GRI 308 :Supplier
Environmental
Assessment
2016308-1 New suppliers thatwere screened using
environmental criteria

66-68, 78

GRI 414:
Supplier
SocialAssessment
2016414-1 New suppliers thatwere screened using social
criteria

66-68, 78

TRANSPARENCY, BUSINESS ETHICS AND INTEGRITYGRI 3:
Material
Topics 2021

3-3 Management of material
topics10, 17, 69-71

GRI 205:
Anticorruption
2016

205-2 Communication andtraining about anti-corruption
policies and procedures71

205-3 Confirmed incidents ofcorruption and actions taken

78

PlanetPeopleOMISSIONREQUIREMENT(S) OMITTEDCUSTOMER SUSTAINABILITY

Sustainability Approach

REASONEXPLANATION

Progress

Appendices87

Sustainability Report FY23

Introduction

Sustainability Approach

PlanetPeopleProgress

Appendices

88

APPENDIX 3:
EY ASSURANCE REPORT
Independent Limited Assurance Reportto the Management and Directors of AirTrunk Operating Pty Limited
What our review covered
Our Conclusion
Ernst & Young (‘EY’, ‘we’) were
engaged by AirTrunk Operating (Pty)
Limited (‘AirTrunk’) to undertakea limited assurance engagement
as defined by Australian AuditingStandards, hereafter referred to asa ‘review’, over the Subject Matter
defined below for the year ended 30
June 2023. Based on the procedures
we have performed and the evidence
we have obtained, nothing has cometo our attention that causes us
to believe the Subject Matter has
not been prepared, in all material
respects, in accordance with theCriteria defined below.

We reviewed the following Subject Matter listed below and disclosed within AirTrunk’s Sustainability
Report (the ‘Report’).
PERFORMANCE DATAREPORT PAGE

Total Scope 1 emissions (tCO2e)73

Total Scope 1 carbon offsets acquired (tCO2e)73

Total Scope 2 emissions (location-based) (tCO2e)73

Total Scope 2 emissions (market-based) (tCO2e)73

Embodied carbon - Building Elements (tCO2e)73

Embodied carbon - MEP Systems Specific to Data Centre (tCO2e)73

Business travel (tCO2e)73

Employee commuting (tCO2e)73

Working from Home (tCO2e)73

Indirect Emissions from Customer Electricity Consumption(location-based) (tCO2e)74

Other than as described in the preceding paragraphs, which set out the scope of our engagement,
we did not perform assurance procedures on the remaining information included in the Report, andaccordingly, we do not express an opinion or conclusion on this information.

Criteria applied by AirTrunkIn preparing the selected performed metrics
related to Greenhouse Gas Emissions,
AirTrunk applied the following criteria:
 World Business Council for Sustainable
Development (WBCSD) and World
Resources Institute (WRI) The Greenhouse
Gas protocol: A Corporate AccountingStandard Revised Edition 2004; National Greenhouse and Energy
Reporting Regulations, 2008; National Greenhouse and Energy
Reporting (Measurement) Determination; National Greenhouse Account Factors,
February 2023;
 AirTrunk’s Basis of Preparation andother company-specific definitions
that are disclosed within Appendix 1:
Sustainability Data.

Sustainability Report FY23

Introduction

Key responsibilities

Our approach to conducting the review

AirTrunk’s responsibility

We conducted this review in accordancewith the Australian Auditing and AssuranceStandards Board’s Australian Standard on
Assurance Engagements Other Than Audits
or Reviews of Historical Financial Information(‘ASAE3000’) and the terms of reference forthis engagement as agreed with AirTrunk on
24 April 2023. That standard requires that weplan and perform our engagement to express
a conclusion on whether anything has come toour attention that causes us to believe that the
Subject Matter is not prepared, in all material
respects, in accordance with the Criteria, andto issue a report.

AirTrunk’s management is responsible forselecting the Criteria, and for presenting
the Subject Matter in accordance withthat Criteria, in all material respects. This
responsibility includes establishing andmaintaining internal controls, maintaining
adequate records and making estimates thatare relevant to the preparation of the Subject
Matter, such that it is free from material
misstatement, whether due to fraud or error.

EY’s responsibility and independence
Our responsibility is to express a conclusion on
the Subject Matter based on our review.
We have complied with the independence
and relevant ethical requirements, which
are founded on fundamental principles ofintegrity, objectivity, professional competence
and due care, confidentiality and professional
behaviour.
The firm applies Auditing Standard ASQM 1
Quality Management for Firms that Perform
Audits or Reviews of Financial Reports
and Other Financial Information, or Other
Assurance or Related Services Engagements,
which requires the firm to design, implement
and operate a system of quality management
including policies or procedures regarding
compliance with ethical requirements,
professional standards and applicable legal
and regulatory requirements.

Summary of review procedures
performed
A review consists of making enquiries,
primarily of persons responsible for preparing
the Subject Matter and related information
and applying analytical and other review
procedures.
The nature, timing, and extent of theprocedures selected depend on ourjudgement, including an assessment of therisk of material misstatement, whether due tofraud or error. The procedures we performed
included, but were not limited to: Conducting interviews with personnel tounderstand the business and reporting
process; Conducting interviews with key personnel
to understand the process for collecting,collating and reporting the Subject Matter
during the reporting period; Assessing that the calculation Criteria havebeen correctly applied in accordance withthe methodologies outlined in the Criteria;

Sustainability Approach

PlanetPeopleProgress

Appendices89 Undertaking analytical review procedures tosupport the reasonableness of the data; Identifying and testing assumptions
supporting calculations; Testing, on a sample basis, underlying
source information to assess the accuracyof the data; and Checking the appropriateness of thepresentation related to the Subject Matterin the Report.

The greenhouse gas quantification process issubject to scientific uncertainty, which arises
because of incomplete scientific knowledge
about the measurement of greenhouse gases.
Additionally, greenhouse gas procedures
are subject to estimation and measurement
uncertainty resulting from the measurement
and calculation processes used to quantify
emissions within the bounds of existingscientific knowledge.

We believe that the evidence obtained issufficient and appropriate to provide a basis
for our review conclusion.

Other matters

Inherent limitations
Procedures performed in a review engagement
vary in nature and timing from, and are lessin extent than for, a reasonable assurance
engagement. Consequently, the level ofassurance obtained in a review engagement
is substantially lower than the assurance thatwould have been obtained had a reasonableassurance engagement been performed. Our
procedures were designed to obtain a limited
level of assurance on which to base ourconclusion and do not provide all the evidence
that would be required to provide a reasonablelevel of assurance.
While we considered the effectivenessof management’s internal controls when
determining the nature and extent of ourprocedures, our assurance engagement
was not designed to provide assurance
on internal controls. Our procedures did
not include testing controls or performing
procedures relating to assessing aggregationor calculation of data within IT systems.

We have not performed assurance proceduresin respect of any information relating to priorreporting periods, including those presented
in the Subject Matter. Our report does notextend to any disclosures or assertions madeby AirTrunk relating to future performanceplans and/or strategies disclosed in AirTrunk’s
Sustainability Report.

Use of our Assurance Report
We disclaim any assumption of responsibility
for any reliance on this assurance report toany persons other than management and the
Directors of AirTrunk, or for any purpose otherthan that for which it was prepared.

Ernst & Young
Melbourne, Australia
23 October 2023

CORPORATEINFORMATION
Want to learn more about our latest efforts?
To stay up to date on our news and progress, refer to our Sustainability Page.