The Audit Committee is responsible for monitoring Dream Office REIT’s systems and procedures for financial reporting and internal controls and the performance of Dream Office REIT’s external auditors. It is responsible for reviewing certain public disclosure documents prior to their approval by the full Board and release to the public including, among others, Dream Office REIT’s quarterly and annual financial statements and management’s discussion and analysis. The Audit Committee is also responsible for recommending to the Board the firm of chartered professional accountants to be nominated for appointment as the external auditor, and for approving the assignment of any non-audit work to be performed by the external auditor. The Audit Committee meets regularly in private session with Dream Office REIT’s external auditors and internal audit function, without management present, to discuss and review specific issues as appropriate.

The full responsibilities of the Audit Committee are set out in a written charter, which is reviewed annually by the Board. The charter is available for review under the Charters and Policies section.

Applicable law and the Declaration of Trust requires the Board to have an Audit Committee consisting of at least three Trustees, each of whom must be independent and “financially literate” within the meaning of NI 52–110.

The Governance, Environmental and Nominating Committee, in consultation with the Chair of the Board, is responsible to:

• assess from time to time the size and composition of the Board and its committees;
• review the effectiveness of the Board’s operations and its relations with management;
• assess the performance of the Board, its committees and individual Trustees;
• monitoring and reviewing the environmental state of real property owned by Dream Office LP and other subsidiaries of Dream Office REIT;
• reviewing and assessing environmental risk exposure and management practices of Dream Office REIT;
• developing, recommending, implementing and assessing Dream Office REIT’s approach to environmental, social and governance matters; and
• review Dream Office REIT’s statement of corporate governance practices.

The full responsibilities of the Governance, Environmental and Nominating Committee are set out in a written charter, which is reviewed annually by the Board. The charter is available for review under the Charters and Policies section.

The Compensation, Health and Safety Committee, in consultation with the Chair of the Board, is responsible to:

• review and make recommendations to the Board with respect to the compensation of Trustees and any officers of Dream Office REIT;
• monitoring the applicable laws and regulations in respect of health and safety matters;
• monitoring and reviewing the environmental state of real property owned by Dream Office LP and other subsidiaries of Dream Office REIT; and
• reviewing and assessing environmental risk exposure and management practices of Dream Office REIT.

The full responsibilities of the Compensation, Health and Safety Committee are set out in a written charter, which is reviewed annually by the Board. The charter is available for review under the Charters and Policies section.