Principal Asset Management® Real Estate Strategies Earn Top GRESB Ratings for 10th Consecutive Year

High global benchmark scores reflect continued strength in sustainable investing practices

DES MOINES, Iowa--(BUSINESS WIRE)--Principal Asset Management^® announced today that two European real estate core property strategies received five-star ratings from the Global Real Estate Sustainability Benchmark (GRESB) for 2025. The recognition places both strategies in the top 20% of GRESB participants worldwide¹ marking the 10th consecutive year Principal has received top ratings. Scores rose broadly across the industry in 2025, reflecting stronger management practices, deeper engagement, and measurable improvements in performance.

GRESB is a global standard for evaluating ESG performance in real estate. Its annual assessment provides investors and managers with data-driven insights into material factors that shape long-term value.

Principal submitted 14 strategies – seven U.S. real estate funds and seven European real estate funds, including the two five-star-rated strategies, to GRESB. All 14 strategies achieved 29 out of 30 points on the Management component, which measures leadership, policies, reporting, risk management, and stakeholder engagement. Each received the Green Star rating, an accolade given to entities that meet baseline scores in Management, Performance, and Development.

"Our GRESB results reflect a commitment to our Pillars of Responsible Property Investing sustainability platform, which guides the integration of resilience and efficiency practices throughout the property life cycle,” said Jennifer McConkey, managing director of ESG and operations for real estate at Principal. “We focus on real estate that delivers strong outcomes for stakeholders, supports health and well-being for tenants and residents, reduces environmental impacts, manages risks, and contributes to local communities.”

The GRESB assessments are based on what investors and the industry identify as the most material issues in asset performance and are aligned with international reporting frameworks, goals, and emerging regulations. In 2025, GRESB assessed biodiversity performance for the first time, and Principal issued industry-leading guidelines on biodiversity to align with this new focus.

In addition to the GRESB results across the global portfolio, Principal Life Insurance Company^® – General Account and the Principal U.S. Core Plus strategy ranked first and second, respectively, in the Development component among U.S. diversified core non-listed property strategies.

1. 2025 Global Real Estate Sustainability Benchmark (GRESB) assessments representing data from 1 January 2024 to 31 December 2024. Five-star rating reflects top 20% worldwide performance; 4-star rating reflects top 40% worldwide performance.

About GRESB

Each year, GRESB assesses and benchmarks the ESG performance of real estate assets worldwide. Overall fund participation grew by 7% this year to 2,382 listed and non-listed portfolios, generating a benchmark that includes 500,000 buildings across 15 sectors in 76 markets.

About Principal Asset Management^®

With public and private market capabilities across all asset classes, Principal Asset Management and its investment specialists look at asset management through a different lens, creating solutions to help deliver client investment objectives. By applying local insights with global perspectives, Principal Asset Management identifies distinct and compelling investment opportunities for more than 1,100 institutional clients in over 80 markets.¹ Principal Asset Management is the global investment solutions business for Principal Financial Group^® (Nasdaq: PFG), managing $601.6 billion in assets¹ and recognized as a “Best Places to Work in Money Management”² for 12 consecutive years.

Learn more at www.PrincipalAM.com

[1] As of September 30, 2025
[2] Pensions & Investments, “The Best Places to Work in Money Management”, among companies with 1,000 or more employees, December 2024.

©2025 Principal Financial Services, Inc., Principal®, Principal Financial Group®, Principal Asset Management, and Principal and the logomark design are registered trademarks and service marks of Principal Financial Services, Inc., a Principal Financial Group company, in various countries around the world and may be used only with the permission of Principal Financial Services, Inc. Principal Asset Management℠ is a trade name of Principal Global Investors, LLC. Principal Real Estate is a trade name of Principal Real Estate Investors, LLC, an affiliate of Principal Global Investors.

To receive a ranking, the Firm paid GRESB an application fee to be evaluated and use the ranking