CORPORATE RESPONSIBILITY & SUSTAINABILITY REPORT

2020

FIND MORE AT IR.WHITESTONEREIT.COM/CORPORATEPROFILE/

CORPORATERESPONSIBILITY& SUSTAINABILITYREPORT

1WHITESTONE REIT CORPORATE RESPONSIBILITY REPORT

TABLE OF CONTENTS

CEO LETTER . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

COMPANY OVERVIEW . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

COMPANY MISSION, VISION AND CORE VALUES . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

SOCIAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

CREATING COMMUNITIES IN OUR PROPERTIESTM . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

ENVIRONMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13

GOVERNANCE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15

WHITESTONE’S RESPONSE TO COVID-19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18


Our property initiatives in the environmental category

have been demonstrated specifically, through our capital

expenditure projects, utility purchase agreements, re-

development, and expansion projects in our high-quality

portfolio of properties while maintaining environmental

awareness. As a beginning, we have replaced roofs with

energy eff icient materials, entered into power purchase

agreements that deliver clean energy, installed vehicle

charging stations, covered parking spaces with energy

eff icient material, and installed LED lighting.

To give a few examples, in 2020 we initiated a Green-e

Energy Certified Eff iciency Program and executed contracts

of approximately 22 million kilowatt hours; replaced 40,000

square feet of roofing with environmentally-friendly, 0%

ozone-depleting and CFC free material; and installed

replacement LED lighting across approximately 20% of our

portfolio. We have also minimized our carbon footprint

by restricting travel during the COVID pandemic and

LETTER FROM THE CEO 2020

To Our Stakeholders:

It is a pleasure to introduce our first annual Corporate

Responsibility & Sustainability Report and provide additional

disclosure to our environmental, social, and governance

(ESG) eff orts. Whitestone is committed to investing in

and promoting the advancement of ESG initiatives in the

commercial real estate industry, and in particular our retail

real estate Community Centered Properties.

Each year we will strive to achieve a higher standard than

the year before as a priority in our daily work. We remain

committed to sound corporate governance, diversity

and inclusion among our associates, and a sustainable

environment, and in future years will continue to engage with

ESG rating agencies and benchmarking platforms to target

areas of improvement.

BLVD Place, Houston, TX

WHITESTONE REIT CORPORATE RESPONSIBILITY REPORT 3

implemented the use of virtual meetings company-wide,

including our 2020 Annual Meeting of Shareholders, and will

continue to use this format in the future.

Our people initiatives are focused on educating, training,

and developing a broadly diversified team of individuals

who share Whitestone’s mission, goals, character, and

integrity towards serving others. We strive for a work-life

balance for our associates, who are our most important

asset, and offer them competitive benefits, wellness

programs, technical and managerial training, promotion

opportunities, and a safe workplace. We encourage

our people to support the communities we serve and

participate in community organizations.

Our shareholder initiatives include providing fully transparent

disclosure governance with oversight of an independent

board of trustees. Our motto is that everything we do must

be “ethical and explainable.” In 2020 our management

team and board met the challenges of the COVID pandemic

directly, reacted quickly in March with a plan to put in place

a process to assist our tenants, communities, and associates

to assure their health and well-being while minimizing

disruption, and regularly reported our progress to all our

stakeholders. I am pleased to report that Whitestone

experienced few interruptions in our 58 community

properties, with approximately 1,400 tenant businesses,

all managed by our 80+ valued associates. Our tenant

businesses are coming back, as evidenced by increasing

rental collections, which was over 92% in November 2020.

From these collections we have continued our commitment

to pay a monthly dividend to our approximately 16,000

shareholders for 125 consecutive months, and strengthened

our balance sheet.

Ever since the Pandemic begin in early 2020, our number one

priority has been on the health and safety of our associates,

tenants, customers and surrounding communities. We have

striven to help our tenant businesses adapt and transform in

order to remain open and provide needed goods and services

to the surrounding neighborhoods.

We look forward to continuing to provide our annual

Corporate Responsibility & Sustainability Report and update

our progress and initiatives incorporating the highest of

standards in our ESG commitment to our stakeholders.

Sincerely,

James C Mastandrea

Chairman & CEO


COMPANY OVERVIEW

About 10 years ago, the way the world shops started

to shift . But we didn’t see that as a barrier—we saw it

as an opportunity.

A New Bottom Line

We achieved the position we are in today by seeking new

opportunities in the developing world and looking at things

diff erently. This means taking risks and redefining the

bottom line.

Smart and Successful Involvement

We make smart investments. We expand cautiously but

optimistically. And when there is a problem, we attack it

head on instead of avoiding it.

Who We Are

At Whitestone, we focus on creating unique local hubs filled

with experiences that can’t be replicated by shopping online.

These are places for a community to gather, say hello, and

feel right at home. For us, local is the key to it all. We design

around a neighborhood’s look and feel. And we embrace new

and growing businesses as our main tenants. It’s all about

hitting that American dream out of the park, together.

Our Tenant’s Success Is Our Success

No one succeeds alone, and we know that better than anyone.

That’s why we get hands-on with our tenants and give them

the tools they need to succeed.

Scottsdale Seville, Scottsdale, AZ


Community is everything to us. Our centers are where

entrepreneurs can succeed in creating their own version

of the American Dream.

COMPANY MISSION, VISION ANDCORE VALUES

PEOPLE

FIRST

ETHICS ABOVE

ALL

IN PURSUIT OF

EXCELLENCE

DO WHAT YOU

CAN’T

When everyone is working towards the

same goal, true synergy is possible.

We think of our shareholders, tenants,

and communities as human beings, and

thus we make goals that serve people

instead of things or corporations.

There’s a right and a wrong way to

do business. The wrong way might

get you ahead faster, but you don’t

succeed in the long run. Doing what’s

honest and ethical is what helps you go

farther, longer.

We don’t settle for “OK” or even

“good.” If it’s not excellent, it’s not us.

We’re passionate perfectionists but in

a good-natured way. A little healthy

competition is what gets us out of bed

every day.

When we reach a certain goal, we don’t

stop. We keep going and see how far

we can push beyond what we even

dreamed was possible. A new goal

emerges and then, we tackle that with

the same tenacity.

Lunar New Year Celebration – Lion Square, Houston, TX


SOCIAL

Diversity, Equal Opportunity and Non-Discrimination

We work to maintain workplaces, properties and communities

that are free from discrimination or harassment on the basis

of race, sex, color, national or social origin, ethnicity, religion,

age, disability, sexual orientation, gender identification or

expression, or any other status protected by applicable law.

We believe in the basis for recruiting, hiring, placement,

development, training, compensation and advancement at the

Company is qualifications, skills and experience.

We value and advance the diversity and inclusion of the people

with whom we work. Each tenant at our community centers has

a diff erent background and story to off er, and at Whitestone

REIT, we feel that every associate on our team is an attribute

that helps us to connect on a deeper level not only with our

communities and tenants, but their clients as well.

Every year, we hold Diversity and Sensitivity training for

management and associates to reiterate the importance within

our organization and to ensure that all associates practice this

approach both internally and externally. Whitestone REIT does

not tolerate disrespectful or inappropriate behavior, unfair

treatment, retaliation or harassment of any kind.

Our Associates create an important foundation within

our organization. We believe that without a dedicated

and devoted team, we wouldn’t have the success or the

achievements that we have today.

Whitestone REIT believes in giving back to Associates through

continuing education and development, paid time off and

annual recognition for outstanding accomplishments and

tenure to the organization.

Whitestone REIT Associate Tenure 1

[1] As of November 13, 2020

34

8Less than 2 years

25

23

2 to 4 years

5 to 9 years

10+ years


Human Rights

“To make decisions and behave in an honest, ethical, moral

and legal manner” is one of the four pillars of our Core

Values. As an organization, we believe in a community of

servanthood mentality not only with our associates, but with

our shareholders and tenants. With that servanthood, we

expect of management, associates and trustees to exhibit and

promote the highest standard of honest and ethical conduct

that is thoroughly outlined in our Code of Business Conduct

and Ethics policy.

The standards as conveyed in the Code of Business Conduct

and Ethics apply to Whitestone REIT, the entities that we own,

and the facilities that we manage.

ASL & English

Arabic

TigrinyaYoruba

Farsi &Persian

BulgarianRomanian Russian

GreekSerbian

Croatian

Indonesian

Korean

VietnameseCantonese

Cambodian

Mandarin

French

Portuguese

Languages Spoken at

Whitestone REIT 1

Whitestone REIT Associates 1

[1] As of November 13, 2020

Whitestone REIT Management 1

Spanish

German

Italian

Aramaic

MALE55

FEMALE35

MALE23

FEMALE8


Training and Continuing Education

We develop and train our associates. They are carefully

selected, hired, and trained to work with our tenants in a pro-

active way in order to achieve our expectations. The depth and

breadth of this initiative is to provide them knowledge through

our Real Estate Executive Development (REED) program, and

advanced learning through our First Scholar Education Program

at well-known universities, such as The Jones Graduate School

of Business at Rice University in Houston, TX. We combine our

training programs with an incentive compensation program

that includes performance-based awards of Whitestone

shares. Currently, approximately 20% of our associates have

graduated from our REED program and four associates have

Rice MBAs. This initiative enables us to scale our business

model in both our existing and future markets to achieve our

long-term growth.

We believe that the industry of real estate is constantly

evolving, and in turn, there is always the opportunity to

continue further growth through training, development and

continuing education. Not only do we provide a variety of

training on-site throughout the year for numerous departments

such as Property Management, Maintenance, Leasing,

Human Resources and Accounting, but we also encourage

our associates to utilize outside educational resources as well.

Our Tuition Reimbursement program allows for associates not

only to consider pursuing additional education, but beneficial

certification that will allow them knowledgeable and helpful

insight for their role and also the industry.

The executive team has also established our REED Program:

a fourteen-month program for selected associates based on

outstanding performance, contribution and commitment to

the organization. Each year, a small group of associates are

nominated and selected for the program where they will gain

an opportunity to develop a deeper understanding of running

a successful REIT, as well as the high-level insight into each

aspect of diff erent departments within the organization.

Internship Program

Whitestone REIT provides the opportunity for students from

local universities to participate in open internship opportunities

at the Corporate off ice during their Summer and Winter

breaks. Accepted students have a minimum of eight weeks

to work on-site assisting with a variety of projects. We have

provided longer internship opportunities and have been

privileged to retain a few interns in permanent positions once

they have completed their education.

Rice University - Houston, TX


Benefits Explained

REED Program. The Real Estate Executive Development

program was created for associates that wish to continue their

career and knowledge of Whitestone REIT and Real Estate.

Selected associates are chosen annually to participate.

Tuition Reimbursement. For associates that wish to continue

their education, whether it be receiving a Bachelors, MBA, or

specialized certification, we will help to reimburse a portion of

the fees for the program in accordance with company policy.

529 College Savings & 401 (K) Program. We off er our team

a variety of options for College Savings and 401(k) programs,

including an employer 401(k) match up to 3.5%. There is a

financial planner on-site on a quarterly basis to help assist

associates choose the best savings options.

Associate Engagement. We like to have fun associate

engagement events such as birthday celebrations, holiday

parties, team building, and competitions such as Halloween

Costume contest and Tacky Holiday Sweater contest.

Building Better Health Program. Our internal program

encourages associates to make healthy choices and lead a

healthy lifestyle. Included is a gym reimbursement program.

Training & Development. We conduct a variety of training

on an annual basis from OSHA and Safety Regulations to Anti-

Harassment Training to ensure we are up-to-date on the most

recent standards and regulations.

Benefits

All employees—or all full-time, or all employees including part-

time aft er one-year of employment—qualify for:

401(k) with employer match up to 3.5% of salary

Tuition reimbursement for qualified programs

Healthcare

Health and wellness program, including gym reimbursement

Stock award program

Employee Discount Program through LifeMart

Employee Assistance Program for Work-Life Balance

Resources through LifeCare Program:

• Professional counseling services (24/7 Services)

• New baby and adoption process

• Parenting and how to care for special needs

• Pet care

• Moving or relocation

• Money management

• Serious illness

• Caring for Aging Loved One

• Grief and Loss

• Marriage and Divorces

Annual Performance Review

Annually, every associate receives a Manager’s evaluation of

their performance for the previous year. All review results are

discussed amongst the management and executive teams to

ensure that no associates are overlooked. Once the Annual

Performance Review process is finalized, each Manager

discusses the review one-on-one with each member of their

team to ensure that expectations and goals are conveyed for

the remainder of that year.


Safety and Wellness

In 2016, Whitestone REIT created the Building Better Health

program that helps promote a healthier, happier and more

active lifestyle for each associate. Each quarter, we partner

with Blue Cross Blue Shield, Higginbotham and Kelsey Seybold

to schedule one seminar on-site that includes a spectrum of

topics such as healthy eating and living, reducing financial

stress and promoting well-being. These quarterly meetings are

broadcast to each of our regional off ices to allow associates the

opportunity to educate themselves on a healthier lifestyle, as

well as additional benefits off ered such as telehealth, employee

assistance programs, and tools to most eff iciently utilize the

medical and non-medical benefits that we off er.

Through the Building Better Health program, we have also

been able to provide associates and their family members with

the opportunity to receive flu shots at the Corporate off ice

as well as the opportunity to work with a Dietitian on-site or

virtually up to six times a year. Other health incentives that we

provide to the organization are healthy snacks and fruit on-site

for easy availability as well as participation in local 5k events.

We take the safety of our associates, clients, tenants and

vendors very seriously. We host a biannual OSHA training in

order to ensure compliance, as well as hold annual risk and

safety training for all regions. Each of our field staff is required

to be educated on the OSHA 29CFR1910, 29CFR1926 and the

Whitestone REIT Incident Report process throughout the

duration of their employment with the Company.

Running of the Bulls 5K Run – Houston, TX

Firefly 5K Run – Houston, TX

Whitestone Annual Bowling Event


At Whitestone REIT, we Create Communities in

our PropertiesTM. But really, it’s much more than that.

We analyze, learn and meet the needs and wants

of our communities.

CREATING COMMUNITIES IN OUR PROPERTIES

Tenant Education

Our long-term vision is to create “e-commerce resistant”

neighborhood, community and lifestyle centers in the most

aff luent markets in the Sunbelt. Because we incorporate an

optimal mix of national and local tenants, we’ve had the

luxury of collaborating with entrepreneurs and small business

owners in spaces at our centers with the firsthand exposure of

watching their business grow, expand and excel.

Being a first-time business owner can be intimidating given the

uncertainty of pursuing a business owner’s American Dream,

Whitestone REIT exhibits great determination in sharing

our passion for education with these tenants. We believe

in investing our time and energy to ensure that tenants are

educated on the lease process so they can maximize their

business in the space to its full potential. Our experienced

property management team has successfully established open

relationships with our tenants, and as questions arise, the

managers are able to help them navigate through the terms

and conditions of their leases and help guide them to success.

Beyond education, Whitestone REIT has a solid strategic

team that helps coach tenants, contributing to their eff orts

to build stable business models, strengthening their media

reach and broadening the scope of their clientele. Providing

this knowledge and strategy to small or new business

We craft gathering spaces in our “go-to” centers that allow our

tenants and their clients to engage with society. Our centers

allow those in the community to intermingle with one another

and the entrepreneurs in their local neighborhoods.

Whitestone Q’s Customer Engagement

Whitestone Q’s is a practice that has been around since

the Company’s inception and has evolved over the years to

better support and engage with our tenants in our centers.

Whitestone Q’s empowers our internal operations teams to

engage tenants and gain more insight of ongoing challenges,

suggestions for the centers, or expansion opportunities.

Through this process, it allows us, as an organization, to build

an open and direct relationship with our tenants, increase

information flow and analyze trends in our centers and our

surrounding communities.


owners can stabilize the longevity of the business, but also

benefit the center with an increase in occupancy and visitors

to the property.

Whitestone in the Community

Our consistent involvement with neighborhoods, groups,

organizations and communities surrounding our properties

has been a pivotal part of our success since the Company’s

inception. In reflection of our appreciation for the community’s

success and traff ic to our centers, each region will host

diff erent events for the community throughout the calendar

year, but we also encourage our tenants to host locally

authentic events and activities in their spaces at our centers

as well.

Our most prominent event throughout the year is the

Merriment on Market Street Hot Cocoa Stroll that takes place

at our Market Street at DC Ranch property in Scottsdale,

Arizona. This event allows the DC Ranch community to peruse

the center and visit our tenants, but also presents photo

opportunities with Santa and friends. Over time, we have

been able to incorporate local middle school and high school

marching bands and choirs to perform prior to the tree lighting

on the plaza of the property.

We always value our tenants that have a passion for giving

back to their community as well. Paris in a Bite, a tenant

located at our Davenport Village property in Austin, TX, hosts

a variety of events both in their space and at our property

throughout the year, including caviar tasting and art openings.

Another way that we continue to foster knowledge and

education about real estate within the community is through

partnership with Rice University in Houston, Texas.

Volunteering and Philanthropy

Our senior managers donate a percentage of their personal

time to develop, teach and train junior associates; teach and

lecture at well-regarded universities; and perform volunteer

work. Whitestone employees have worked with orphanages

in Kenya, Rwanda, and India, and donate personal time and

money to special causes.

Cocoa Stroll, Market Street at DC Ranch


ENVIRONMENT

Creation of Green space for walking and bicycle paths from

adjacent communities to minimize congestion and pollution

from vehicle traffic

LED (Light Emitting Diode) Lighting

Over the past few years, we have converted several of our

properties from high energy usage metal halide parking lot

lights to eff icient LED lights. We have also started doing a one-

for-one switch out of all exterior lighting; when one old wall

pack or soff it light goes out, the entire fixture is replaced with

a new LED fixture rather than just replacing the high usage

bulb. We have completed this work on approximately 20% of

the lighting at our properties and will continue the one-for-

one replacement until all fixtures are LED. We are changing

the lights in one of our off ice building parking garages to LED

in 2020, and the other is planned to be changed to LED in

2021. We are also studying whether using OLED (Organic LED)

fixtures is viable at any of our properties.

Ours is a three-pronged approach to adding value and

“turning around” acquisitions – renovating, re-tenanting

and revitalizing – which includes adding leasable area to

the property and improving its environmental footprint.

Redeveloping and Revitalizing

We acquire and “turn around” properties and seek to add

value through renovating and re-tenanting our properties to

create Whitestone-branded Community Centered Properties™.

Adding leasable square footage to existing structures,

upgrading and renovating existing structures and developing

and building on unused land are all ways that we revitalize

existing space to better serve the local community.

When redeveloping our properties, we seek opportunities to

improve their environmental footprint. Examples include,

Installation of LED lighting, energy-efficient equipment, and

air filtration systems at redevelopment projects

Evaluation and installation of recharging stations for electric

vehicles at select properties

Establishment of recycling programs at both the property

and tenant levels


Polyurethane Spray Foam

In tenant spaces that do not currently meet energy

code requirements, we are insulating the roof deck with

polyurethane spray foam instead of adding insulation batts.

Polyurethane spray foam is much more energy eff icient than

insulation batts and provides the added benefit of making the

roof nearly airtight, helping greatly in reducing HVAC usage.

This approach requires the space to be empty, so we are

implementing this upgrade only as spaces become available.

We have used this in three of our Houston properties in the

past few years and in 2020, we replaced 40,000 square feet

of roofing with environmentally-friendly, 0% ozone-depleting

and CFC-free material.

HVAC Maintenance

One of the highest energy uses for any building is the HVAC

system. We have a rigorous maintenance program to ensure

that all of our HVAC units are operating at peak eff iciency. We

also require all of our tenants to regularly maintain and keep

maintenance records of their HVAC units. When a unit needs

to be replaced, we seek out the most eff icient model for the

space, and ensure that it is properly sized for the space. Over-

or under-sizing of HVAC units makes them operate ineff iciently

as they have to cycle more or less than they were designed to.

Porous Concrete

Porous concrete, also known as permeable concrete, is used

on flatwork to allow water from precipitation to pass directly

through instead of running off site. We have porous concrete,

or porous surface material in three of our centers currently

and are making it a focal point of future developments and

redevelopments to lessen the impact of water runoff from our

centers.

Clean Energy

We have endeavored to switch all of the energy provided

to our centers to be provided by clean energy sources. We

are in the process of researching which companies are the

most reliable, and cleanest. In 2020, we initiated a Green-e

Energy Certified Eff iciency Program and executed contracts

of approximately 22 million kilowatt hours of our electricity to

green power. We plan to further implement the usage of green

power in future years.

Incentivizing Energy Efficiency

Whitestone usually provides triple net (NNN) leases that

pass on the utility expenses directly to its tenants. Tenants

are incentivized to economize on utilities such as electricity

and water usage, and improve their profitability by reducing

expenses they pay. Furthermore, we undertake extensive

due diligence related to any possible contamination at all the

properties we purchase, investing in any necessary clean up

to ensure we and new tenants comply with all environmental

regulations. Looking forward, we plan to evaluate the

possibility of Energy Star and LEED certifications for select

properties, as well as voluntarily participate in GRESB

assessments and CDP disclosure in the future.


GOVERNANCE

Received shareholder approval to declassify its Board at its

2019 annual meeting

Engages in active Board refreshment. Three of the six

Trustees have served less than four years on the Whitestone

Board

Trustees receive a percentage of compensation in stock,

providing alignment with shareholder interests

Does not make political contributions, nor identify with any

political party to obtain favorable treatment

Board members regularly visit properties to provide

oversight around the Community-Centered properties

philosophy

Members of senior management present to the Board

on an annual basis the performance of their respective

departments

Employs the use of aerial drones to update the Board on

property and tenant matters to avoid the environmentally

and financially expensive cost of frequent air travel, as well

as to minimize our carbon footprint

ESG Committee

In 2019, Whitestone REIT instituted an ESG Committee and

established a charter to support the Company’s on-going

commitment to environmental, health and safety, corporate

social responsibility, corporate governance, sustainability, and

other public policy matters relevant to the Company.

The Whitestone Board of Trustees strives to achieve

the highest standards of Corporate Governance, financial

transparency, and commitment and progress to our

long-term financial goals.

Corporate Governance Guidelines

Whitestone REIT is committed to achieving business success

and enhancing long-term shareholder value while maintaining

the highest standards of responsibility, ethics and integrity.

In that regard, the Board has adopted its guidelines and

Whitestone publishes them on its website to reflect the

principles by which the Company and the Board operate. The

Board reviews these guidelines from time to time and to make

changes as it deems necessary or appropriate.

Governance Highlights:

Avoids conflicts of interest with full disclosure policies

Maintains a Lead Independent Trustee as well as an

independent Board with oversight from designated

committees and Chairpersons

Voluntarily took steps to declassify its Board in 2018


The ESG Committee is a cross-functional senior management

committee of the Company under the oversight of the Board

of Trustees. Its mission is to assist the executive management

of the Company in:

Setting general strategy relating to ESG Matters

Developing, implementing, and monitoring initiatives and

policies based on that strategy

Overseeing communications with employees, investors and

stakeholders with respect to ESG Matters, and

Monitoring and assessing developments relating to, and

improving the Company’s understanding of ESG Matters.

In addition to the ESG Committee, Whitestone also

implemented and formalized several other Corporate

Responsibility and Sustainability Policies including:

OSHA Policy

Human Rights Policy

Vendor Code of Conduct

Sustainability Statement

Code of Business Conduct and Ethics

Whitestone REIT created its code of ethics to guide associates

to apply moral principles and values in business decision-

making. Mandatory ethics training ensures associates

comply with the Company’s ethical vision. Each associate

is responsible for understanding and contributing to the

corporate mission achievement through their own choices and

everyday behavior.

Whistleblower Program

The Company also has made available a confidential employee

hotline, which employees may use to report any observations,

concerns or complaints. The number for the hotline is: 1-855-

890-3329.

Internal & External Audit

Whitestone’s management is responsible for maintaining

eff ective internal control over financial reporting and regularly

assessing the eff ectiveness of its internal control over

financial reporting.

HUMANRESOURCES

ESGCOMMITTEE

CORPORATESTRATEGY

GENERALCOUNSEL

INVESTORRELATIONS


We have an internal audit function which regularly assesses risk

and documents key processes to minimize risk and improve

our operational eff ectiveness and eff iciency. Embedded in the

process documentation are key controls which are audited for

compliance on a regular basis.

We also receive an annual external audit of our financial

statements and internal control over financial reporting from

an independent registered public accounting firm.

These processes and audits provide assurance to stakeholders

by providing greater transparency of operational and financial

activities and provide information to management to be

used to continuously improve employee training and overall

Company operations.

U.S. Securities & Exchange Commission (SEC)

As a publicly traded company, Whitestone REIT adheres to

all the SEC’s disclosure laws and regulations. We report with

transparency, accuracy, and accessibility on matters pertaining

to financial standings, operating results, management

compensation, and other areas of business activities.

Insider Trading Compliance Policy

Whitestone maintains an Insider Trading Compliance Policy

which governs the handling of material, non-public information

relating to the Company and any other companies with which

we deal, and with the buying and selling of shares and other

securities of the Company and such other companies.


WHITESTONE’S RESPONSE TO COVID-19

Health & Safety

We created a website link providing stakeholders with

information regarding healthcare related best practices

and local/regional updates regarding operations at our

centers during the crisis.

We continue to closely monitor the developments related

to COVID-19, including updates from the Centers for Disease

Control and Prevention (CDC), World Health Organization

and local municipalities. Additionally, we have initiated

cleaning processes at our properties and ensure our

vendors are following the recommended CDC guidelines.

The health and safety of our employees, tenants and

communities are Whitestone’s top priority. Given the

important role of our shopping centers in the communities

we serve, we took proactive measures to maintain the

strength of our business and ensure the continuity of

operations, as local conditions permit.

Business Continuity

We have maintained open lines of communication and have

been in constant contact with 100% of our tenants.

We established Whitestone REIT’s “COVID CARES” Tenant

Counseling team to work closely with tenants helping them

apply for COVID 19 CARES Act Relief Resources, including

the Paycheck Protection Program (PPP loans), the U.S.

Small Business Administration (SBA) Coronavirus Assistance

program, and other resources.

We have provided financial and operating assistance

to tenants through numerous initiatives, including rent

deferrals, additional signage, greater access to common

areas of properties for additional tenant operating activities

and enhanced curbside pick-up.

Documents

CORPORATE RESPONSIBILITY & SUSTAINABILITY REPORT