Retail Opportunity Investments : 2024 ROIC ESG Report

2024

Environmental, Social and Governance Report

TABLE OF CONTENTS

MESSAGE FROM OUR CEO	3
ROIC OVERVIEW	4
Business Strategy, Key Figures	5
Properties, Portfolio Composition	6
Awards and Recognition	7
GOVERNANCE	8
Board Oversight of ESG	9
Board Composition	10
Stakeholder Engagement	12
ESG Plans and Policies	13
Cybersecurity	14

ENVIRONMENTAL	16
Environmental Performance and Targets	17
Sustainable Policies and Priorities	18
Approach to Climate Change	29
SOCIAL	32
Employees	33
Tenants and Communities	37
ABOUT THIS REPORT AND INDICES	40
About This Report	41
Sustainability Accounting Standards Board (SASB)	42
Task Force on Climate-related Financial Disclosures (TCFD)	46
Sustainable Development Goals	51
Independent Verification Statement	52

2024 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Table of ContentS |

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A Message From Our CEO

Environmental sustainability and corporate responsibility have been key drivers of ROIC's business strategy ever since we opened our doors 15 years ago. The growth and success of our organization has been grounded in our commitment to prioritizing the well-being and success of our employees, our partnerships with our valued tenants and the communities served by our shopping centers. We take pride in our recognition as the largest publicly-traded,grocery-anchored shopping center real estate investment trust (REIT) focused exclusively on the West Coast and as a proven environmental steward within the REIT industry. In our fifth annual ESG Report, we are pleased to share our achievements and highlight our progress toward a greener future.

ROIC attributes our continued accomplishments over the last year to our team's steadfast commitment to long-term sustainable growth and their embodiment of our company values. Key 2023 highlights for ROIC's ESG Program include:

• Developed and set new environmental targets for the organization as the result of significant progress against our previously set 2025 year- end targets and improved data quality and completeness.
• Achieving the designation as a Green Lease Leader at the "Gold" level by the U.S. Department of Energy's Better Buildings Alliance and the Institute for Market Transformation, highlighting our ongoing commitment to tenant engagement and the integration of sustainability throughout our portfolio.
• Participating in GRESB (formerly known as the Global Real Estate Sustainability Benchmark) in 2023, 2022 and 2021, aligning with our commitment to performance and transparency with our investors and broader ROIC stakeholders.

• Continuing to incorporate ESG milestones into our executive compensation program, ensuring that ROIC management remains focused and dedicated to realizing impactful ESG milestone achievements. This strategy helps us to further integrate ESG prorities into our company, which is one of ROIC's key goals.
• Earning our fourth IREM® Certified Sustainable Property (CSP) certification for our Diamond Hills Plaza shopping center in Diamond
  Bar, California, showcasing sustainable performance in energy, water, health, recycling purchasing and management.
• Hosting annual diversity and inclusion training for all ROIC employees.
  As an equal opportunity employer, ROIC strives to foster a diverse and inclusive work environment where everyone feels valued and respected, exemplifying the core values of our organization. This annual training cadence supports our employees in maintaining accountability for such critical issues.
• Administering our second annual third-party employee engagement survey to facilitate a deeper understanding of the needs of our employees and to enhance our human capital management strategy.
• Utilizing the results of our fulsome climate scenario analysis to bolster our properties' and portfolio resilience, build on our traditional risk assessments and better position our climate risk management strategy with the Task Force on Climate-related Financial Disclosures (TCFD).

We expand on the achievements above and detail our existing and future priorities within this report. ROIC is proud of our dedication to ESG stewardship, and we seek to lead by example and maintain this commitment in the years to come.

STUART TANZ

Chief Executive Officer

2024 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

A MESSAGE FROM OUR CEO |

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1

ROIC Overview

Business Strategy

Retail Opportunity Investments Corp. (ROIC) is a fully integrated, self-managed REIT. We specialize in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers on the West Coast of the United States, anchored by national or regional supermarkets and drugstores. Our strategy targets properties located in densely populated, middle and upper income markets. As of December 31, 2023, ROIC's portfolio consisted of 95 properties totaling 10.7 million square feet of gross leasable area (GLA).

30 Years

of Dedicated Management Focus of the west coast, grocery anchored sector

AS OF DECEMBER 31, 2023

95

Properties (94 Retail / 1 Office)

94

97.7%

Leased Retail Portfolio

98.1%

METRICS AS OF DECEMBER 31, 2023

71	2,057
Employees	Tenants
70	2,048

10.7

Million Square Feet of GLA

10.6

$3.5B

Gross Asset Value

$3.4B

Properties (93 Retail / 1 Office)

Leased Retail Portfolio

Employees

Tenants

METRICS AS OF DECEMBER 31, 2022

Million Square Feet of GLA

Gross Asset Value

2024 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

ROIC Overview |

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Retail Portfolio (as of December 31, 2023)

LEADING METRO MARKETS

93 Shopping Centers		10.6 Million Square Feet

Portland		Seattle
20 Centers
18 Centers
	2.4M SF
1.9M SF

San Francisco	Los Angeles
Bay Area	21 Centers
18 Centers	3.0M SF
1.5M SF

San Diego	Orange County
7 Centers	9 Centers
0.7M SF	1.1M SF

RETAIL PORTFOLIO COMPOSITION

Restaurants - Fast Food 8%

Grocery 23%

Drug Stores 3%

Restaurants - Fast Casual 8%

Medical/Dental 5%

Restaurants - Full Service 6%

Fitness 6%

Entertainment 1%

Financial 5%

Education 2%

Postal Services 1%

Wireless 1%

Salons 6%

Off-Price 2%

Local Services 5%

Apparel 4%

Non-Retail 1%

Home Decor 3%

Home Improvement 2%

Pet Supply 2%

General Retail 3%

Automotive Supply 1%

Sporting Goods 2%

	82%	of Total Annualized Base Rent Derived from
	Daily-Necessity Service and Destination
	E-Commerce Resistant Retailers.

2024 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

ROIC Overview |

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Awards and Recognition

Retail Opportunity Investments Corp. was selected as a Green Lease Leader by the U.S. Department of Energy's Better Buildings Alliance and the Institute for Market Transformation. Specifically, ROIC received the designation of "Gold" in recognition of efforts to incorporate sustainability criteria into its leases, including energy efficiency initiatives, cost savings, air quality and more. See this link for more information on Green Lease Leaders.

	2024 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT	ROIC Overview |	7

2

Governance

Board Oversight Of ESG

Our Board is entrusted with the responsibility of serving as a fiduciary for shareholders and overseeing the management of our business, including ROIC's ESG strategy, initiatives and programs. In addition, ROIC's Nominating and Corporate Governance Committee oversees our ESG strategy development and climate oversight, ensuring that the viewpoints of our stockholders' and other stakeholders' are taken into consideration when developing our ESG practices. In 2023, our Board participated in an ESG training course to further improve their management of ROIC's ESG strategy, initiatives and programs.

Established in 2019, our ESG Management Committee comprises of members from our Executive, Sustainable Operations & ESG and Information Technology teams. The responsibilities of the ESG Management Committee include implementing our ESG and climate strategy, as well as providing quarterly updates to the Nominating and Corporate Governance Committee. The ESG Management Committee convenes on a monthly basis but may meet more frequently if needed. We strongly believe that to seamlessly incorporate ESG into the company's strategy, it is crucial that all relevant business functions participate and share responsibility for our ESG program.

ESG OVERSIGHT

Board of Directors

Nominating and Corporate Governance Committee

ESG Management Committee

CEO / CFO /	Sustainable	Information
COO / CAO	Operations	Technology

2024 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Governance |

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Board Composition

BOARD INDEPENDENCE

The composition of ROIC's Board of Directors provides sufficient independent oversight of our management and helps to protect our stockholders' interests. Key highlights include:

Maintaining separate roles for the Chairman of our Board of Directors and our Chief Executive Officer.

The majority of our current directors being independent as per NASDAQ corporate governance requirements.

Independent directors meeting separately from our management team on a regular basis following the conclusion of our regularly scheduled Board of Directors' meetings.

Independent directors maintaining oversight of critical matters such as the selection and assessment of directors, the evaluation and compensation of our directors and executive officers and the integrity of our financial statements.

Board Committees

ROIC's Board of Directors maintain three standing subcommittees - the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee. Across these three committees, all members are independent directors. Among other key responsibilities, our Nominating and Corporate Governance Committee is responsible for overseeing the development of ROIC's ESG strategy.

Board Recruitment

In 2021, long-term refreshment of our Board of Directors continued to be one of the top priorities of the Nominating and Corporate Governance Committee, with a focus on identifying prospective candidates that meet the current and future needs of our Company, as well as enhancing the multi-dimensional diversity of our Board. We believe diversity provides a wide range of perspectives and is critical to sound corporate governance, and we proudly welcomed three new members to our Board in 2021 that embody these values.

Pay Equity

ROIC greatly values the contributions of our Board and we are committed to compensating each of our Board members equally, regardless of age, gender, race or ethnicity.

ESG Milestones in Executive Compensation Program

Achievement of specific ESG milestones has been factored into our Named Executive Officers' (NEO) long-termperformance-based equity awards since 2020. Among other performance goals, ESG Milestone Achievements are achieved over a three-year period and align with ROIC's long-term strategic goals.

The ESG Milestone Achievements included in the equity awards of ROIC's NEOs are measurable and centered around tangible quantitative performance goals. These goals cover topics important to our ESG initiatives, including the reduction of Scope 1 and 2 emissions, energy and water usage, sustainability, the wellness and satisfaction of our workforce and corporate governance. For the three year performance periods ending December 31, 2023 and 2022, we met the required threshold of measurable achievements set for those respective years, and in response to these efforts, we are undertaking the process of establishing additional metrics to enhance our ESG program going forward.

2024 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Governance |

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