Paramount Achieves GRESB 5 Star Rating for Third Consecutive Year

Paramount Group, Inc. (NYSE: PGRE) ("Paramount" or the "Company") announced today that it achieved a 5 Star rating in the 2021 GRESB Real Estate Assessment. This is the highest GRESB rating that distinguishes Paramount's ESG performance in the top 20% among the 1,520 companies and funds that responded globally.

The GRESB Assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments and are aligned with international reporting frameworks, goals, and emerging regulations. GRESB data is used by hundreds of capital providers and thousands of asset managers to benchmark investments across portfolios and to better understand the opportunities, risks, and choices that need to be made as the industry transitions to a more sustainable future.

"Achieving GRESB's highest accolade for the third consecutive year is a testament to our unwavering commitment to ESG," said Wilbur Paes, Paramount's Chief Operating Officer, Chief Financial Officer, and Treasurer. "This year, Paramount's portfolio was benchmarked against 117,000 assets across 64 countries, and we proudly emerged as a leader in our industry."

"Paramount has demonstrated a deep commitment to ESG integration and acceleration year after year," said Dan Winters, Head of Americas for GRESB. "Paramount's impressive climb to the top within the GRESB Global Benchmark and the achievement of 5 Stars for the third year in a row proves the effectiveness of their approach to ESG transparency."

GRESB also administers a Public Disclosure Survey that measures organizational transparency of material ESG disclosures. Paramount achieved the highest Public Disclosure level of an "A," securing the #1 ranking among its peer group of USA Office Properties for 2021.

Additional details about Paramount's ESG program and goals can be found within the Company's 2020 Sustainability Report and at https://www.paramount-group.com/about/sustainability/.

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 GRESB

GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by 140 institutional and financial investors to inform decision-making. For more information, visit GRESB.com.