Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") is proud to announce that it has achieved the 2022 ENERGY STAR Partner of the Year Award from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy. Winners of this coveted award are selected from a network of thousands of ENERGY STAR partners and are recognized for demonstrating superior leadership, innovation, and commitment to sustainability.

ENERGY STAR is at the forefront of Paramount's energy efficiency strategy and helps advance the company's mission to reduce the portfolio's environmental footprint. In 2021, Paramount achieved ENERGY STAR labels across 100% of its office portfolio, spanning 11.3 million square feet.

"Sustainability is an integral part of our business, and we capitalize on every opportunity to further embed responsible practices into our daily operations," said Wilbur Paes, Paramount's Chief Operating Officer, Chief Financial Officer and Treasurer. "Participation in the ENERGY STAR program is one of the many ways our team is committed to environmental stewardship for our stakeholders, tenants, and the greater community."

"We know it's going to take all of us working together to tackle the climate crisis, and the 2022 ENERGY STAR award-winning partners are demonstrating what it takes to build a more sustainable future," said EPA Administrator Michael S. Regan. "These companies are showing once again that taking action in support of a clean energy economy can be good not only for the environment, but also for business and customers."

About Paramount Group, Inc.

Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.

About ENERGY STAR

ENERGY STAR^® is the government-backed symbol for energy efficiency, providing simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations—including more than 40 percent of the Fortune 500®—rely on their partnership with the U.S. Environmental Protection Agency (EPA) to deliver cost-saving energy efficiency solutions. Since 1992, ENERGY STAR and its partners helped American families and businesses avoid more than $500 billion in energy costs and achieve more than 4 billion metric tons of greenhouse gas reductions. More background information about ENERGY STAR's impacts can be found at www.energystar.gov/impacts and state-level information can be found at www.energystar.gov/statefacts.

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Paramount Earns 2022 ENERGY STAR® Partner of the Year Award