COVID-19 SPACE FOR LEASE RESIDENTIAL HOMES FOR SALE PUBLIC LOTS GOLF MELCOR RESPONSE TO COVID-19 LATEST NEWS Melcor Response to COVID-19 LAST EDITED: SEPTEMBER 16, 2021 | 10:07 AM MT Over our 97 years of business, Melcor has weathered many storms. While we continue to face an unprecedented challenge brought on by the COVID-19 pandemic, our propensity for proactive decision-making, remaining conservative in uncertain times, and being thoughtful of our employees, clients, and stakeholders, properly position us to adjust accordingly as events unfold. WE ARE OPEN FOR BUSINESS We continue to transact business whether we are working from home, or as a skeleton staff in the office as necessary. Never hesitate to reach out to your Melcor contact with any questions you may have. We are sharing the precautions we are taking in response to the COVID-19 pandemic. At Melcor, our business impacts hundreds of thousands of people daily – from the people we employ to those who shop at our retail centres and work in our buildings. For us, it is about taking meaningful action to STOP the spread of the virus. We value caring for our exceptional team above all else. With that, we prioritize each other’s well-being. Throughout our operating divisions, we have also taken steps to ensure the health and safety of everyone who works or shops in our office and retail buildings or golfs at our golf courses. Internal Precautions: As of September 10, 2021, we have paused return to office plans indefinitely All Melcor employees continue to work from home, with the exception of a small skeleton crew required at the office November 27, 2020: Melcor employees will work from home for a 3 week period Employees return to full hours and compensation as of August 1, 2020 Board remuneration reduction for both Melcor and Melcor REIT Wage roll-back for named executive officers and management committee members Temporary lay-off notices given to approximately 25% of full-time staff Reduction in remuneration for all remaining staff Deferred all capital spending Implemented work from home as of March 18 – except for a small crew performing essential business activities in the office Both Melcor and Melcor REIT will host virtual Annual General Meetings in May 2020 Canceled all internal social gatherings Canceled all business travel Implemented a 2-week self-isolation policy for employees returning from travel outside of Canada Reinforced our “stay at home” policy for anyone feeling ill Changed all in-person meetings to digital meetings Implemented a “no visitor” policy to all offices Implemented mandatory workspace cleaning Set-up employees to work from home if their job allows Communicated our resources for employees facing mental health challenges while coping with the COVID-19 pandemic External Precautions: Masking is required in all common areas of our buildings Melcor and Melcor REIT Annual General Meetings for 2021 will be held virtually for the second year Melcor announces results for 2020 and increases dividend to $0.10 per share Melcor REIT announces 17% increase to Q1-2021 distributions to $0.035 per unit Q2 & Q3 rent collected: 93% and 85% respectively. For a complete update on rent collection, please read page 4 of our Q3-2020 MD&A Melcor REIT distributions remain at $0.03 per trust unit for June – December Melcor’s Q2 & Q3 dividend remains at $0.08 per share Melcor and Melcor REIT host online Annual General Meetings on June 25, 2020 Office Return to Work tenant information Golf courses in Albert and BC open with increased health and safety precautions in accordance with government recommendations Postponed Annual General Meeting to June 25, 2020 47% reduction to the REIT’s April distribution, announced March 20, 2020 17% reduction to Melcor’s dividend announced March 11, 2020 Working with all clients and stakeholders on a case by case basis Anticipating delayed openings for golf courses Closed the pro shops and community restaurants at our golf courses Canceled all community/showhome events Canceled all tenant events Supported our builders’ decision to close showhomes or implement viewings by appointment Disinfect high touch surfaces 3x per day in our office properties with day porters Sourced hand sanitizer and dispensers to add to common areas on each floor Stocked up on paper and cleaning supplies We are diligently monitoring the situation and making adjustments to our business as necessary. We will continue to update this page with further information on how we are supporting our employees, clients and tenants, and the public. Below you will find helpful information that we have communicated regarding the pandemic: May 25, 2020 Email to tenants RE: CECRA program April 1, 2020 Press Release: Melcor Postpones Annual General Meeting to June 25, 2020 March 25, 2020 Press Release: Melcor and the REIT take further measures in response to COVID-19 March 19, 2020 A Letter to Our Business Partners March 18, 2020 Work From Home Tips March 13, 2020 Melcor’s policies for employees Melcor’s social media response Human Resources communication to employees on Mental Health and COVID-19 Listen to the audio from Melcor’s virtual townhall meeting: Audio Player 00:00 00:00 Use Up/Down Arrow keys to increase or decrease volume. March 4, 2020 Tenant Communication: Proper Handwashing Technique Tenant Communication: Safe and Healthy March 3, 2020 CEO communication to employees: Corona Virus: What we’re doing and how you can help We are committed to building communities that enrich quality of life – communities where people live, work, shop and play. Shape post-linkedin post-instagram PRIVACY POLICY © 2021 MELCOR DEVELOPMENTS LTD. ALL RIGHTS RESERVED. LIVE Residential Communities WORK Office Space Industrial Property SHOP Retail Properties PLAY Golf Courses INVESTOR RELATIONS: YEAR IN REVIEW Click Here to View Our Annual Earnings Documents JOIN OUR NEWSLETTER