I am proud to share our 2024 Sustainability Report, which captures the progress we have made and the momentum we continue to build. With a managed industrial real estate portfolio that spans half a billion square feet and emphasizes high-growth infill markets, Link Logistics is embedded in the daily movement of goods across the U.S. Every time I step inside one of our buildings, I am reminded of the wide range of businesses we serve and the essential role they play in our economy. Whether it is a local operation expanding for the first time or a global brand scaling its supply chain, the work happening in our spaces is what drives us to keep pushing forward.
From the start, sustainability has been core to our mission. We have always believed that smart, practical investments in efficiency and innovation can create lasting value for our customers and strengthen our managed portfolio as we contribute meaningfully to the communities where we operate. Today, we are seeing that belief affirmed in exciting ways.
Delivering Value Through Energy Management
Our Energy Solutions customer program, which helps businesses measure and reduce their energy consumption while achieving utility cost savings, now supports more than 1,200 customers, a number that grows each month. We also installed LED or high-efficiency lighting across 49 million square feet in 2024, bringing our total to 238 million square feet as of year-end; LED conversions continue at a strong pace in 2025. With over 75 megawatts of solar installed across the portfolio to date and more in the pipeline, we are putting our millions of square feet of flat rooftops to work and delivering results at scale.
Link Logistics has a unique opportunity to meet the growing energy needs of modern supply chain operations. Our role is to help customers navigate that shift—sourcing, procuring and managing power while developing more efficient, higher-performing facilities. With more than 9,000 customers across the U.S. and a managed portfolio through which a significant portion of U.S. GDP flows, we take seriously our responsibility to lead where it matters most.
People Are the Foundation
In 2024, we continued to improve how we serve our customers and communities. We were honored to earn ENERGY STAR®'s Partner of the Year recognition for the third consecutive year, along with the organization's Excellence in Data Innovation Award. Our second Energy & Sustainability Summit, this time featured as an official event of Climate Week NYC, brought together customers and sustainability experts to discuss practical and forward-thinking opportunities to meet customers' sustainability objectives. And our Link+ platform earned a CIO 100 Award while achieving strong adoption across the managed portfolio.
None of this progress would be possible without our incredible people. In 2024, GlobeSt named Link Logistics one of commercial real estate's best places to work, a reflection of our collaborative, values-driven culture. That culture is especially evident in the way we show up for others. On CoreGiving Day 2024, nearly 900 Link employees volunteered over 3,500 hours to help fight childhood hunger. More than 20 Blackstone portfolio companies now participate in this growing effort. We also continued to grow our employee resource group network last year, and as of mid-year 2025 have a total of six groups creating more opportunities for connection across our team. And strong governance remains a priority, with further investment in systems that promote integrity, transparency and long-term resilience.
Looking Ahead with Purpose
We see the task of managing energy consumption as a meaningful opportunity to deliver solutions that make good business sense. When we design programs and buildings that lower energy usage, reduce costs and improve performance, we are helping our customers succeed. That is and always will be our focus.
Looking to the future with both optimism and urgency, we see an immense opportunity to deliver meaningful impact through data, building design and deep customer partnership. I strongly believe our scale, the strength of our team and our connection to the broader Blackstone Real Estate ecosystem give us an unparalleled ability to keep reimagining industrial real estate. But more than anything, I believe in our people. They are behind everything we have accomplished, and all we are building toward.
Thank you for your continued support.
