Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") is proud to announce that it has achieved the 2023 ENERGY STAR Partner of the Year Award from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy. Paramount was selected from a network of thousands of ENERGY STAR partners, distinguishing the Company as a leader in the sustainability space.

Winners of this award are recognized for growing the number of ENERGY STAR certified properties, demonstrating a commitment to sustainability, and integrating best practices throughout their organizations. This year, Paramount achieved ENERGY STAR labels across 100% of its office portfolio, spanning 11.3 million square feet. Attaining ENERGY STAR labels signify that Paramount's assets perform within the top 25 percent for energy efficiency when compared to similar buildings nationwide.

"ENERGY STAR is a key component within Paramount's sustainability strategy, and 2023 is the second consecutive year we have been recognized as Partner of the Year," said Wilbur Paes, Paramount's Chief Operating Officer, Chief Financial Officer and Treasurer. "Participation in the ENERGY STAR program is not only integral to our mission as a responsible owner, but also to our tenants who partner with us in initiatives that reduce both our carbon footprint and operating expenses."

"As we accelerate historic efforts to address climate change, public-private partnerships will be essential to realizing the scale of our ambition," said EPA Administrator Michael S. Regan. "I applaud this year's ENERGY STAR award winners for working with EPA to deliver a clean energy future that saves American consumers and businesses money and creates jobs."

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 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.

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Paramount Earns 2023 ENERGY STAR® Partner of the Year Award