Q1. Will we be able to buy CBRE stock at preferential rates?

There is no preferred stock purchasing for current CBRE or affiliates.

Q2. Will CBRE employees keep using their CBRE corporate cards through the new year? Or will new Turner & Townsend corporate cards be issued?

You will continue to use your existing CBRE corporate card for a period of time (for the first several months of the new year), and continue to follow the current CBRE processes as you do today. Turner & Townsend will provide information nearing the time on how to submit business expenses for reimbursement as Turner & Townsend does not issue corporate credit cards.

Q3. Will the CBRE PEP program be retained and remain in effect after the transition to Turner & Townsend?

Yes, Turner & Townsend will be sharing the CBRE preferred suppliers and the programs to manage them like PEP.

Q4. Can I get a copy of the Turner & Townsend US LLC W-9? I need to verify a vendor setup in my client's Oracle system.

Yes, you can download a copy at the link below:

USA - TTInc W-9

Q5. When are we going to get more details on the 401K? We should have some more detail than 1st QTR. What can we share with our teams on an update?

The Turner & Townsend 401(k) plan became availble for employees to enroll on February 28, 2025 through the Voya website.

Q6. I would like to make a 100% 401k contribution selection for my 2024 bonus check on the Voya 401k website, but I do not have a T&T/Voya account as of yet; it has been announced to be established/in place at the end of the first quarter. For reference, our 2023 bonus check was distributed March 22 of 2024. The election through Voya will probably take one to two pay periods to take effect. We are now in the third week of February. Please confirm I will have enough time to modify my bonus check for my 401k contribution; it seems we are cutting it close with the timing.

The Turner & Townsend 401(k) plan became available for employees to enroll on February 28, 2025 through the Voya website.

Q7. CBRE recently acquired Turner & Townsend. I'm part of the project management team that that was impacted and now roll under Turner & Townsend. CBRE matches some of our contributions to our 401k on the Fidelity account when we rolled under CBRE. Looks like our 401k retirement plans are being impacted and we have to transition to Voyer. I have a fidelity account with CBRE and now that we roll into Turner & Townsend we have to open a Voyer account.

My question is if Turner & Townsend will offer matching contributions as CBRE did?

Turner & Townsend, Inc. will match 50% of your contributions to the Plan, including catch-up contributions, up to the first 6% of your eligible wages that you contribute for the year.

Q1. Will I receive a welcome and/or onboarding toolkit? If so, when can I expect to receive this?

Yes, you will receive a formal welcome letter in mid-December from Turner & Townsend.

Q2. What is going to happen to my role?

There are no changes to roles for the majority of staff transferring across to Turner & Townsend. We will provide updates during the planned integration process. You should continue to perform your duties as you do today.

Q3. I am worried about what this transition means for me, what should I do?

Like the CBRE partnership and Turner & Townsend’s history of successful mergers and acquisitions over two decades, this acquisition is about growth. Initially, Turner & Townsend does not anticipate there to be changes to your day-to-day core job and responsibilities. For all colleagues, the combined businesses of CBRE PJM and Turner & Townsend will create new opportunities for you to grow within the business and learn and develop new skills over time. If you have additional questions regarding your role, please reach out to your line manager.

Q4. How does Turner & Townsend evaluate employee performance?

Turner & Townsend’s annual performance and career review cycle begins in October and concludes December 31st. The performance and career review allows Turner & Townsend colleagues the forum to articulate how they have contributed to Turner & Townsend’s Purpose and Vision 2025; how their behaviors led to individual and business success; and to encourage colleagues to take ownership of their career and progress.

Q5. Annual appraisals happen at the year end. Will it be done for CBRE employees this year?

CBRE employees should complete the annual appraisal process in the usual way for 2024. The Turner & Townsend process runs to similar timescales. The approach will be reviewed and combined for 2025, as part of integration activity.

Q6. For employees who DO NOT have unlimited PTO, will our accrued PTO transfer over to 2025? Or, will we lose it, or get paid out what is remaining?

The current PTO policy will remain in place. It will eventually be necessary to align CBRE to Turner & Townsend's overall policies. Turner & Townsend will notify you when these changes are being made, which Turner & Townsend does not anticipate happening before the end of next year.

Q7. What will be the payroll schedule as of January 1, 2025?

Yes. The payroll schedule will remain unchanged while we administer pay and benefits under the Transition Service Agreement (TSA). Upon exit of the TSA, an updated payroll schedule will be available for review.

Q8. Will my benefits change? When will a copy of Turner & Townsend Human Resources manual or benefits be available for viewing?

There will be a transition period following the close where CBRE PJM colleagues will remain on CBRE payroll and benefits. At the conclusion of the transition period, you will begin to be paid through Turner & Townsend’s payroll and become eligible for Turner & Townsend's benefit programs. Turner & Townsend offers a very comprehensive overall benefits package with very comparable offerings to CBRE. Your CBRE years of service will transfer over to Turner & Townsend for all benefits purposes. The target effective date for the transition to Turner & Townsend payroll and benefits is Q4 2025, with the exception of 401k. Eligibility to participate in the Turner & Townsend 401k plan with Voya will begin before the end of Q1 2025.

Turner & Townsend will host an open enrollment period before benefit elections are made where the 2025 and/or 2026 benefit plans and rates will be shared.

Q9. Will my manager change?

As we begin integration and subject to any information and consultation obligations, we will keep you apprised of any changes to your management structure. For the majority of staff, line management will remain the same. For CBRE Project Management colleagues who work on client accounts and report to Alliance Directors, there may be changes in your line manager in 2025. If you are impacted by this, you will be made aware of who your new manager will be in advance of the change following the mapping of the future organization.

Q10. How will our years of service at CBRE work now that we will be Turner & Townsend? Is our PTO affected moving to Turner & Townsend? With CBRE we would receive a "bonus" each year. Will this be the same under T&T?

We will recognize your prior service with CBRE. Therefore, any terms and conditions connected to your tenure will be honored by Turner & Townsend. During the transition period, which we estimate to end in the last quarter of 2025, your payroll and benefits will continue to be administered by CBRE and will remain aligned to existing policies and procedures. Thereafter, you will transition to Turner & Townsend payroll and benefits. We will harmonize our two entities after a period of time and you will be notified in advance of any changes that may impact you.

Q11. Can we still roll over up to 5 vacation days?

During the transition period, which we estimate to end in the last quarter of 2025, your payroll and benefits will continue to be administered by CBRE and will remain aligned to existing policies and procedures.

Q12. At CBRE, I was looking at a career path to an Alliance Director or part of an executive team on a partner account. Once moving over to Turner and Townsend, we will still be able to apply to CBRE jobs as internal employees or will we be seen as external candidates when applying to CBRE jobs?

You will still have an opportunity to apply for roles within Turner & Townsend and CBRE. Turner & Townsend is already an entity that is part of the CBRE business and not an external organization.

Q13. Will we continue with CBRE's USA Holiday schedule for 2025. If not, what is Turner and Townsend's schedule?

During the transition period, which we estimate to end in the last quarter of 2025, your payroll and benefits will continue to be administered by CBRE and will remain aligned to existing policies and procedures.

Q14. In order to set up my HSA, Fidelity needs my employer name and address. What is the correct employer name and address for me (I office out of the CBRE Seattle office).

All benefits, with the exception of the 401(k), have remained with CBRE during the TSA period. Please contact the CBRE benefits team for confirmation.

Q15. I am a part of the transition from CBRE and as of January 1 we have transitioned over. I have the Voya Welcome flyer with all plan details and how to enroll but when entering personal details, I am getting an error. I am curious if this is because we are not eligible to enroll into the 401k program yet? If that is the case, is there a date on when we can expect to enroll into the program?

Enrollment in the Turner & Townsend 401(k) plan is through Voya. Voya has received employee information and will make the participant portal available for participant deferral and investment elections before the end of Q1 2025. You will receive an error message or be informed that VOYA does not have your social security information if you try to commence enrollment prior to the portal being available to you. You will not be permitted to enroll prior to the portal opening, and enrollment commences. Turner & Townsend will notify you when VOYA participant access is available. When the portal is available, you will need to follow the enrollment instructions to enroll in the VOYA plan. Details on the VOYA plan, along with rollover instructions that can be initiated after enrollment, can be found on the VOYA brochure that was attached to your transfer notification from Turner & Townsend.

Q16. Will I receive a welcome and/or onboarding toolkit? If so, when can I expect to receive this?

Yes, you will receive a formal welcome letter in mid-December from Turner & Townsend.

Q17. What is the maternity leave policy? What is going to happen with health insurance for 2026? Will the Fidelity HSA operate as normally? It deducted from my paycheck, but has not shown up in the Fidelity account yet. If I were to transfer to a Turner & Townsend/CBRE position, will I still get my 2024 bonus?

Turner & Townsend currently offers employees a robust, comprehensive and competitive benefits package. When the plan is finalized for the combined business, we will share plan details broadly. All benefits, with the exception of the 401(k), have remained with CBRE during the TSA period. Please contact the CBRE benefits team for information on your HSA with Fidelity. There is no impact on your 2024 bonus.

Q18. How do I contact HR? My Social Security number is incorrect with the transfer.

Enrollment in the Turner & Townsend 401(k) plan is through Voya. Voya has received employee information and will make the participant portal available for participant deferral and investment elections before the end of Q1 2025. You will receive an error message or be informed that VOYA does not have your social security information if you try to commence enrollment prior to the portal being available to you. You will not be permitted to enroll prior to the portal opening, and enrollment commences. Turner & Townsend will notify you when VOYA participant access is available. When the portal is available, you will need to follow the enrollment instructions to enroll in the VOYA plan. Details on the VOYA plan, along with rollover instructions that can be initiated after enrollment, can be found on the VOYA brochure that was attached to your transfer notification from Turner & Townsend.

Q19. Does CBRE-Turner & Townsend offer any health insurance options?

Turner & Townsend currently offers employees a robust, comprehensive and competitive benefits package. When the plan is finalized for the combined business, we will share plan details broadly.

Q20. I received an email to submit my 2025 Benefit selections. I had already completed this through CBRE back in October 2024 for the 2025 calendar year. Do I need to re-submit my benefit selections?

Recently, you may have received a COBRA election notice by mail and an email about benefit eligibility instructing you to enroll in benefits. Rest assured, if you enrolled in CBRE benefits for 2025, there will be no lapse in your benefits coverage during your transition to Turner & Townsend and no additional action is needed. As part of the transfer, however, you do have the option to make changes to your coverage by contacting the Benefits Service Center before January 31, 2025.

Q21. I received an email on 12/19/24 about the 401K but it is very confusing to me. It talks about a year end true-up distribution but I don't understand what that means. Is that for 2024 or will that be 2025? Does Turner & Townsend match employee 401K contributions? If yes, is it 100%? The email talks about a one time salary increase in April 2025? Please elaborate on how Turner & Townsend manages 401K for employees.

The email in December 2024 was from CBRE, related to your 401(K) plan. The Turner & Townsend 401(k) plan has been shared via the link that was attached to your transfer notification on December 16, 2024. A subsequent communication was issued on January 16, 2025 with additional information on the Turner & Townsend 401(k).

Q22. Can you confirm whether the email from (12/16) titled "Turner & Townsend - Transition Notification" is the formal communications for PJM employees to begin signing up for Voya 401k benefits? Or are we waiting on a separate email from Voya directly?

The email in December 2024 was from CBRE, related to your 401(K) plan. The Turner & Townsend 401(k) plan has been shared via the link that was attached to your transfer notification on December 16, 2024. A subsequent communication was issued on January 16, 2025 with additional information on the Turner & Townsend 401(k).

Q23. When can we begin to invest in our 401k with Voya? Who is our designated account people person (CBRE - Iron Mountain)? When will we receive our full benefits package? Why are our CBRE holdings in our current 401k being transitioned out?

Enrollment in the Turner & Townsend 401(k) plan is through Voya. Voya has received employee information and will make the participant portal available for participant deferral and investment elections before the end of Q1 2025. You will receive an error message or be informed that VOYA does not have your social security information if you try to commence enrollment prior to the portal being available to you. You will not be permitted to enroll prior to the portal opening, and enrollment commences. Turner & Townsend will notify you when VOYA participant access is available. When the portal is available, you will need to follow the enrollment instructions to enroll in the VOYA plan. Details on the VOYA plan, along with rollover instructions that can be initiated after enrollment, can be found on the VOYA brochure that was attached to your transfer notification from Turner & Townsend. Turner & Townsend currently offers employees a robust, comprehensive and competitive benefits package. When the plan is finalized for the combined business, we will share plan details broadly.

Q24. I noticed that my 401k contribution wasn't deducted from Jan. 3rd's payroll deduction. Will there be a makeup deduction or is there some other issue with the first paycheck? I also tried to register for Voya, but the plan isn't recognizing my social security number. Is there something else I need to wait for to register for Voya 401k? I also just got the Fidelity benefits card for the HSA, is that staying the same or will that also be moving to Voya?

Enrollment in the Turner & Townsend 401(k) plan is through Voya. Voya has received employee information and will make the participant portal available for participant deferral and investment elections before the end of Q1 2025. You will receive an error message or be informed that VOYA does not have your social security information if you try to commence enrollment prior to the portal being available to you. You will not be permitted to enroll prior to the portal opening, and enrollment commences. Turner & Townsend will notify you when VOYA participant access is available. When the portal is available, you will need to follow the enrollment instructions to enroll in the VOYA plan. Details on the VOYA plan, along with rollover instructions that can be initiated after enrollment, can be found on the VOYA brochure that was attached to your transfer notification from Turner & Townsend. Turner & Townsend currently offers employees a robust, comprehensive and competitive benefits package. When the plan is finalized for the combined business, we will share plan details broadly.

Q25. When can we roll over our 401K?

Enrollment in the Turner & Townsend 401(k) plan is through Voya. Voya has received employee information and will make the participant portal available for participant deferral and investment elections before the end of Q1 2025. You will receive an error message or be informed that VOYA does not have your social security information if you try to commence enrollment prior to the portal being available to you. You will not be permitted to enroll prior to the portal opening, and enrollment commences. T&T will notify you when VOYA participant access is available. When the portal is available, you will need to follow the enrollment instructions to enroll in the VOYA plan. Details on the VOYA plan, along with rollover instructions that can be initiated after enrollment, can be found on the VOYA brochure that was attached to your transfer notification from Turner & Townsend.

Q26. Who do I talk to about my paycheck? I am not even sure if I am CBRE or Turner & Townsend employee. My paystub in 2024 showed CBRE and the one in 2025 showed Turner & Townsend.

During the TSA period you will continue to be paid by CBRE payroll, though you are an employee of Turner & Townsend. Please contact CBRE payroll for questions related to your paycheck.

Q27. I received a notice from COBRA about my health insurance being discontinued. I may have missed understood, but are we receiving new insurance coverage?

Recently, you may have received a COBRA election notice by mail and an email about benefit eligibility instructing you to enroll in benefits. Rest assured, if you enrolled in CBRE benefits for 2025, there will be no lapse in your benefits coverage during your transition to Turner & Townsend and no additional action is needed. As part of the transfer, however, you do have the option to make changes to your coverage by contacting the Benefits Service Center before January 31, 2025.

Q28. Will our Optum funds be transferred over?

Please contact the CBRE benefits team for detailed information about transferring funds from your Optum HSA to Fidelity HSA.

Q29. Is there a contact phone number for employees to call when they need?

If the question is related to HR, we have a helpdesk that can support by contacting usahr@turntown.com.

Q30. I tried to sign up for the 401k. I had to call Voya and they indicated Turner & Townsend had not added me to the plan and that I needed to contact Turner & Townsend. I don't know who to contact.

Enrollment in the Turner & Townsend 401(k) plan is through Voya. Voya has received employee information and will make the participant portal available for participant deferral and investment elections before the end of Q1 2025. You will receive an error message or be informed that VOYA does not have your social security information if you try to commence enrollment prior to the portal being available to you. You will not be permitted to enroll prior to the portal opening, and enrollment commences. T&T will notify you when VOYA participant access is available. When the portal is available, you will need to follow the enrollment instructions to enroll in the VOYA plan. Details on the VOYA plan, along with rollover instructions that can be initiated after enrollment, can be found on the VOYA brochure that was attached to your transfer notification from Turner & Townsend.

Q31. I currently have + 8 CBRE Job Reqs open in CBRE, and intend to extend offers in late January 2025. What is the process for actually hiring and extending formal offers to new employees knowing that the new hires will become Turner & Townsend employees in January?

Employees will receive offer letters from CBRE that have Turner & Townsend information on it. They will join the CBRE health plans, with the exception of 401(k) for the duration of the TSA period, which is expected to be through the end of Q3. Your recruiter should be able to guide and direct this process.

Q32. Does the legal company name change of Turner & Townsend post-merger with CBRE affect H1B visa approved petitions?

The legal company name will not change and there will be no impact to H1-B visas.

Q33. Will the US PJM team follow the 2025 CBRE holiday and payroll schedule?

Yes.

Q34. How will the new HSA work? How will the transfer work? Will our new HSA allow us to move money back and forth between medical and mutual funds and will there be a time limit or use by date?

Turner & Townsend currently offers employees a robust, comprehensive and competitive benefits package. When the plan is finalized for the combined business, we will share plan details broadly.

Q35. How will the new HSA work? How will the transfer work? Will our new HSA allow us to move money back and forth between medical and mutual funds and will there be a time limit or use by date?

Turner & Townsend currently offers employees a robust, comprehensive and competitive benefits package. When the plan is finalized for the combined business, we will share plan details broadly.

Q36. I have an HSA account with Optum with a significant balance. I understand in 2025, HSA will be with Fidelity. How will my HSA balance we transferred to the account to insure no loss of value and/or will there be continued access to the current account without any maintenance charges or penalties?

All benefits, with the exception of the 401(k), have remained with CBRE during the TSA period. Please contact the CBRE benefits team for detailed information about transferring funds from your Optum HSA to Fidelity HSA.

Q37. I will have a balance of PTO hours after the end of 2024. Will that carry over into 2025?

Yes.

Q38. Turner & Townsend employer matching is "For 2025, Turner & Townsend, Inc. expects to match 50% of your contributions up to 6% of your eligible compensation. CBRE employer matching is "CBRE will match 66.67% on the first 6% of eligible compensation contributed to the plan (up to $6,000). My question is: What is Turner & Townsend maximum matching contribution amount? Is it also $6,000?

The CBRE 401(k) match formula is 66-2/3% up to 6% of contributions with a maximum annual match benefit of $6,000. The Turner & Townsend formula is 50% match up to 6% of contributions with no annual match maximum. Therefore, under the Turner & Townsend plan, there is the ability to increase your contributions so that your match in the year exceeds the $6,000 max under the CBRE plan. In addition, Turner & Townsend is currently planning to provide a one-time salary adjustment outside of the 401(k) plan to make up for the difference in the match formulas between the CBRE plan and the Turner & Townsend plan. In addition, Turner & Townsend's 401(k) plan incorporates an annual match true-up in which each participant's annual contributions to the plan will be reviewed and the match provided to the participant will be updated to satisfy plan requirements and cover missed match opportunities from Q1.

Q39. I am on the list to be transferred to Turner & Townsend on January 1 as I have been in project management for CBRE for the last several years. I am in the process of transitioning to a Finance position. I currently split my time approximately 50/50 between project management and finance but will continue to migrate away from project management in 2025. My supervisor tried to change my job title to Finance Manager earlier this month, but CBRE HR told us that there is a freeze in place until after the transition in January, so the request was denied. At this point, I will be transferred to Turner & Townsend and will then start the process of transferring back to CBRE as soon as the freeze is lifted. Is there a way to avoid this and be removed from the transfer list?

There will be a roster assessment after January 1st and anyone who transferred and shouldn't have, will be notified of a migration back to CBRE.

Q40. I see from the recently sent 401K document that Turner & Townsend plans to match 50% up to 6% of 401K contributions. CBRE matches more. Is there a plan to increase this disparity so that CBRE employees being moved are not unfairly penalized?

The CBRE 401(k) match formula is 66-2/3% up to 6% of contributions with a maximum annual match benefit of $6,000. The T&T formula is 50% match up to 6% of contributions with no annual match maximum. Therefore, under the Turner & Townsend plan, there is the ability to increase your contributions so that your match in the year exceeds the $6,000 max under the CBRE plan. In addition, Turner & Townsend is currently planning to provide a one-time salary adjustment outside of the 401(k) plan to make up for the difference in the match formulas between the CBRE plan and the Turner & Townsend plan. In addition, T&T's 401(k) plan incorporates an annual match true-up in which each participant's annual contributions to the plan will be reviewed and the match provided to the participant will be updated to satisfy plan requirements and cover missed match opportunities from Q1.

Q41. Where can we find a summary of the benefits package of Turner & Townsend? Will HCE employees retain unlimited PTO in 2026?

Turner & Townsend currently offers employees a robust, comprehensive and competitive benefits package. When the plan is finalized for the combined business, we will share plan details broadly.

Q42. The latest Transition Notification has language reading, "There will be no reduction to your current base salary nor changes to working hours or position as a result of this transaction." Will there be changes to my current bonus structure? If so, when and what are those changes?

Your total reward package eligibility will remain unchanged during 2025. Our intent is not to change this, however if changes are required, your total reward will be equivalent to your current eligibility.

Q43. I am in the process of hiring a new PJM in the U.S.; this is being handled via the CBRE process. He has accepted the offer and his start date is 01/06/25. How do I make sure he is captured as a new Turner & Townsend employee? Can you let me know how the transition to Turner & Townsend will work with his first day being after we have transitioned to Turner & Townsend? He is also having an issue accessing the I-9 website. Is this due to the Turner & Townsend transition? My CBRE HR person isn't sure.

Onboarding will remain unchanged during the TSA period. Anyone new to the PjM will join the TSA and will continue to receive pay and benefits through CBRE. New employees during this period will be eligible to enroll in Turner & Townsend's 401K, as soon as it's available.

Q44. Will there be any changes to the PTO policy with the merger?

Turner & Townsend currently offers employees a robust, comprehensive and competitive benefits package. When the plan is finalized for the combined business, we will share plan details broadly.

Q45. What will the changes in payroll look like? Will we get a final check from CBRE and then a new check from Turner & Townsend? Will we need to setup things like direct deposit?

There will be no change to pay periods during the TSA period. Following the TSA period, employees will transition to T&T payroll, and pay schedule. That schedule will be posted and available on The Loop. Onboarding information, to include direct deposit set up, will be issued prior to the end of the TSA period.

Q46. For current CBRE employees, will healthcare benefits change during 2025? If so, what are the new options for providers and plans?

Please contact the CBRE benefits team for confirmation.

Q47. Will existing employees go through any background check/screening or other onboarding requirements prior to transition? I have an employee recently hired through CBRE and would like to manage expectations if they will need to go back through the same process.

There will be no additional background screening requirements prior to the transition, unless there is a client requirement to do so.

Q48. Hello, I'm working with H1-b work visa and in the process of company sponsored green card. How will this combination impact my immigration status?

Because each immigration case is unique to the person, we encourage you to reach out to the immigration department at CBRE for specific guidance on individual circumstances.

Q49. I am an hourly employee. How will I submit my timesheet with Turner & Townsend? Also, is the pay schedule still bi-weekly?

Timekeeping will not change during the TSA period. Upon transition to T&T payroll, non-exempt payroll is 1 week in arears.

Q50. Through the transition with CBRE and Turner & Townsend, it has been conveyed there will be a move of our 401k plan. This will go from our current provider to a new provider. For those of us that have not yet hit the 3-year vesting threshold what happens to my current employer vested matching funds when this transition happens? Are we just losing that unvested / matching amount? I have called Voya and Fidelity as suggested in the attachment FAQ document and neither company have been informed on this transition. Is there a new vesting period with Turner & Townsend or will our years of service be carried over to Turner & Townsend? My personal offer letter states nothing about a vesting period related to the CBRE 401k retirement plan. Please explain to me why my plan is bound to the 3 year vesting period?

In connection with your transfer from CBRE to T&T, your account balance under The CBRE 401(k) Plan will be fully vested. In addition, your account under the T&T 401(k) Plan will be fully vested. The transfer letter has an attachment from VOYA that highlights vesting.

Q51. I have a colleague who is potentially moving to a dedicated client account, which was noted prior as still falling under CBRE instead of transitioning to Turner & Townsend, but this change will likely not take place until after the 1st of the year. That being said, I wanted to check to see if there was any sort of pending period before account changes to 401Ks are finalized and if not and their current 401K plan goes inactive/ineligible, will they then have to transfer balances to a Turner & Townsend 401K and then back to a CBRE 401K?

Should someone transfer to T&T on January 1st and a subsequent decision is made that they should not have transferred, there will be an opportunity to transfer back to CBRE. We have already made some of those adjustments and will continue to do so should there be more. Participation in 401k at CBRE will have ceased with a transfer to T&T as of January 1st. Please connect with CBRE benefits team to discuss re-enrollment in 401k at CBRE.

Q53. Will existing open hiring requisitions transition to a new HR system? Or will we continue to use CBRE until those existing requisitions are filled?

The applicant tracking system will not change during the TSA period.

Q55. In the US (and perhaps other countries), employees over a certain compensation threshold receive unlimited PTO. Several folks on my team have asked if this policy will remain the same going forward.

Turner & Townsend currently offers employees a robust, comprehensive and competitive benefits package. When the plan is finalized for the combined business, we will share plan details broadly.

Q56. Regarding the 401K change and the one-time salary increase equal to the difference in employer matching contribution rates based on 2024 employee contributions: this will still be a long-term significant loss. There has been so much wonderful transparency with this change that is much appreciated. Can we have more information as to why the transition can't carry over the same match rate?

The current employer match formula for 2025 for Turner & Townsend is 50% up to 6%.  In order to meet regulatory requirements, we provide a consistent matching formula for all employees.  PjM colleagues were no longer eligible to participate under the CBRE 401k plan after the transaction closing date.  Therefore, entry into the Turner & Townsend 401k plan at the current match formula was the best option moving forward.  We anticipate access will be granted before the end of Q1 2025.  

Q57. Will we be able to submit expense reports in January? My team and I have frequent travel charges that we will need to be reimbursed for.

There will be no change to expense reporting during the TSA period.

Q58. The initial information regarding this merger said we will have an info session in December. Can you provide these dates?

PjM townhalls were held on December 9th for leaders and December 11th for all employees. We encourage colleagues to continue to raise any outstanding questions through The Loop.

Q59. Many of us own the phones but CBRE handles the cell service packages. Will this change? Regarding travel, we currently are required to use American Express NEO for travel reservations, will this change? Will the CBRE credit cards / expense report process change?

During the TSA, there are no changes to issued equipment, to include cell phones. Should there be a change to cell phone carrier, number or process following the TSA, we will notify people of that change in advance. Expense reporting, credit cards, and travel will not change during the TSA period. Should there be a change to any process, advance notification will be provided.

Q60. Where can I view updated org charts?

Please refer to the Operational Guide to view updated org charts.

Q61. There have been questions from a local level on integration of Turner and Townsend and CBRE PM roles and what that looks like from an organizational structure. Is there a timeline when that information will come out?

There are no major organizational changes planned in local markets for 2025. All employees should continue to operate within their existing line management and cost centers.

Q62. It's published that organizational operational change is coming but is there going to be any preview to give people a chance to get used the ideas of new processes in their head? For example, our group doesn't complete time sheets. Does Turner & Townsend require time sheets for everyone?

Yes, Turner & Townsend employees complete timesheets. There will be more information released when we have clarity. Using timesheets as an example, the Turner & Townsend legacy employees use D365 to complete timesheets which is also the financial management system and the invoicing platform. There are several things that need to happen in order for us to consolidate financial management systems. Therefore, we do not have direction on timesheets yet as it is more complicated as access to the system relies on several things, not just timesheets. Generally, we are under 12 months of Transitional Service Agreement (TSA) from CBRE. Over the course of 2025, we will be building the plan for how we stand up all these services internally, so more information will come as we firm up these plans.

Q63. Staff is inquiring about Turner & Townsend's vacation policy. CBRE currently has unlimited vacation as approved by their manager.

At this time, everyone's vacation allotment and the policy remains the same as it was in 2024. Should a change be necessary in the future, information will be provided ahead of time.

Q64. When exactly will Voya be ready for us to sign in, roll over any old retirement funds, and start contributing to our 401ks with employer match? When exactly will we be told the details of how our compensation will be increased to account for the loss of 401k contributions and match? Are we no longer eligible to purchase CBRE stock at a discount? Are we eligible to purchase Turner & Townsend stock at a discount similar to how we could purchase CBRE?

We do not have an exact date to communicate the commencement of the Voya plan for PjM staff. We expect that it will be prior to the end of Q1, which is March 31st. To address the difference in employer matching contribution rates, T&T will provide a one-time salary increase equal to the difference in employer matching contribution rates based on your 2024 employee contributions. This payment will be made with the April salary increase period. We also note that your matching contributions under the T&T 401(k) plan are capped only by IRS annual limits, while matching contributions under the CBRE plan are capped at $6,000 per year.

Q65. I am part of a large transfer of employees from CBRE to Turner & Townsend (Turner & Townsend). I know that the CBRE 401K accounts transferring to Turner & Townsend will be delayed, so currently there are no 401K withdrawals being made from employee regular checks until the Turner & Townsend 401K system is fully implemented in the near future (a month or so). All of this is fine for now, however there are a group of people whom have taken out loans from their 401K (especially myself) which require regular payments. It is important that the regular payments are made or paused, so they do not go into default. This brings me to several questions: 1. How is this transfer situation being handled? 2. Are the loans going to move to Turner & Townsend where the regular biweekly payments will be with-drawn from our monthly pay stub and deposited to the loan to maintain the original payment schedule? 3. Will we be protected from default during this transition time? I hesitate to pay this from my personal bank account as then I would be paying taxes on the money received only to pay the loan back thus increasing the overall payment cost.

If you wish to continue repaying your loan, you will need to set up an ACH draft through Fidelity to continue repaying your loan. Fidelity will provide you with additional information on how to set this up.

Q66. It's my understanding that all CBRE Project Management employees will be required to move their 401K funds to VOYA which manages the Turner & Townsend plan and this will happen automatically with no effort required from the employee. Is that correct and if so why are we required to move our accounts? This seems odd and not like any other time I have changed employers. It's my understanding that there are only two situations where former employees can be forced out of a plan: (1) employee has less than $5k in the plan or (2) plan will no longer exist such as in a situation where the employer is closing business. Part of my reason for asking is the "Plan News" document, obtained via the link in the 401k FAQ email sent on 1/21/25, specifically says in the first sentence of the last section "Account Consolidation" - "Your CBRE 401(k) Plan will not automatically transfer to the Turner & Townsend Inc. 401(k) Plan. Should you be interested in rolling over your CBRE 401(k) Plan or any outside assets into the Turner & Townsend Inc. 401(k) Plan....."So, which is it? We have to move it and that will happen automatically with nothing required on our end as we have been instructed. OR our funds will stay in the CBRE 401k plan until we initiate the rollover should we chose?

Enrollment in the Turner & Townsend 401(k) plan is through Voya. Voya has received employee information and will make the participant portal available for participant deferral and investment elections before the end of Q1 2025. You will receive an error message or be informed that VOYA does not have your social security information if you try to commence enrollment prior to the portal being available to you. You will not be permitted to enroll prior to the portal opening, and enrollment commences. Turner & Townsend will notify you when VOYA participant access is available. When the portal is available, you will need to follow the enrollment instructions to enroll in the VOYA plan. Details on the VOYA plan, along with rollover instructions that can be initiated after enrollment, can be found on the VOYA brochure that was attached to your transfer notification from Turner & Townsend. Rollover is not a requirement, but a choice.

Q67. When will additional 401k information be provided to address the following: 1. What are Voya's fees? I see the .15% listed. Are these built into the performance? What other fees will we be paying, and are these taken off the top, or will Turner & Townsend be covering any costs? Additionally, a .26% fee for an Advisor is listed; is this in addition and at our discretion? 2. Does Voya offer a target date fund vs. managed fund? Will they be offering a risk target questionnaire? 3. Do we have an option to stay with Fidelity, and if so, what fees will they charge to keep our 401k in our account?

The fees are assessed by the funds you select. Additionally, you'll be able to discern different fund options, once the plan is open to you. No, you will not be able to continue to remain with Fidelity.

Q68. Who is our HR person as well as 'General Manager' for CBRE in American Express account in NYC?

Thom Sella is the contact.

Q69. For Voya enrollment, my SSN is not in the system. I can't enroll.

Enrollment in the Turner & Townsend 401(k) plan is through Voya. Voya has received employee information and will make the participant portal available for participant deferral and investment elections before the end of Q1 2025. You will receive an error message or be informed that VOYA does not have your social security information if you try to commence enrollment prior to the portal being available to you. You will not be permitted to enroll prior to the portal opening, and enrollment commences. Turner & Townsend will notify you when VOYA participant access is available. When the portal is available, you will need to follow the enrollment instructions to enroll in the VOYA plan. Details on the VOYA plan, along with rollover instructions that can be initiated after enrollment, can be found on the VOYA brochure that was attached to your transfer notification from Turner & Townsend.

Q70. Can you help further clarify item 8 in the FAQ. It states that Turner & Townsend will match 50% up to 6% of compensation in the first paragraph and there is no cap. So if you make 250,000 and do the 6%, Turner & Townsend will put in 3% of 250,000, $7,500. And the no cap only impacts those making over 200k b/c 3% of 200k is $6,000 right. Also, can you provide an example of how the pay increase will work and will it be a separate "line item" on the annual pay raise to show how much of the raise was from performance vs. 401k adjustment?

The true up calculation will be in a separate payroll run so that anyone impacted with a true up adjustment, will be aware of the amount.

Q71. How will we be made whole with the 3 month lapse in 401K match activity? Also - who is our HR contact? We have no real person to talk to about benefit details - or do we?

To address the difference in employer matching contribution rates, Turner & Townsend will provide a one-time salary increase equal to the difference in employer matching contribution rates based on your 2024 employee contributions. This payment will be made with the April salary increase period. We also note that your matching contributions under the Turner & Townsend 401(k) plan are capped only by IRS annual limits, while matching contributions under the CBRE plan are capped at $6,000 per year.

Q72. Regarding the Voya 401K investment selection options, why are CBRE PjM Transitioning Employees being excluded from purchasing CBRE Stock to include in their 401K Plan?

PjM employees are no longer employed by CBRE, and therefore will have alternative investment options through the Turner & Townsend Voya plan.

Q73. What type(s) of retirement benefits, programs or opportunities are there for employees?

Turner & Townsend offers a 401k and a ROTH for retirement savings.

Q74. I received an email regarding transferring Optum Bank HSA to Fidelity. Is this something that I should do even if I transferred over to Turner & Townsend? Is Fidelity the new HSA account holder?

Your healthcare benefits, and HSA are not impacted by your move to Turner & Townsend during the TSA period.

Q75. For CBRE employees who have transitioned to Turner & Townsend, it has been previously communicated that there is no defined date within Q1 2025 where transitioned employees can start to personally contribute to a retirement account through Voya from their bi-weekly pay. Being that Q1 2025 alone includes seven pay periods, there is significant lose in an employee's opportunity to contribute for retirement. Please confirm Turner & Townsend will reimburse employees for this lose accordingly, and specifically, how this action will be handled. Note that this is separate from the already communicated company match difference that is payable to affected employees in April 2025. In addition to the question above, Voya advised that they need the employer to send employee census data. Why hasn't the employer sent employee information to Voya? When will this occur?

Enrollment in the Turner & Townsend 401(k) plan is through Voya. Voya has received employee information and will make the participant portal available for participant deferral and investment elections before the end of Q1 2025. You will receive an error message or be informed that VOYA does not have your social security information if you try to commence enrollment prior to the portal being available to you. You will not be permitted to enroll prior to the portal opening, and enrollment commences. Turner & Townsend will notify you when VOYA participant access is available. When the portal is available, you will need to follow the enrollment instructions to enroll in the VOYA plan. Details on the VOYA plan, along with rollover instructions that can be initiated after enrollment, can be found on the VOYA brochure that was attached to your transfer notification from Turner & Townsend. Because employees will have the opportunity to make full elections in the year 2025, there will not be an adjustment for lagging contributions that were not made in Q1.

Q76. I am wondering if we need to rollover our own 401k or will it automatically rollover from Fidelity CBRE 401k to Voya?

Rollover will not automatically occur. Should you choose to rollover, instructions can be found in the Voya flyer that was attached to your transfer notification.

Q77. I noticed that I did not have a deduction for 401K on my 1/3/25 paycheck. When I talked with CBRE payroll they read a script that sounded like we will not be allotted 401K until sometime in 1st QTR 2025. Is that true? Do we lose matching?

Enrollment in the Turner & Townsend 401(k) plan is through Voya. Voya has received employee information and will make the participant portal available for participant deferral and investment elections before the end of Q1 2025. You will receive an error message or be informed that VOYA does not have your social security information if you try to commence enrollment prior to the portal being available to you. You will not be permitted to enroll prior to the portal opening, and enrollment commences. Turner & Townsend will notify you when VOYA participant access is available. When the portal is available, you will need to follow the enrollment instructions to enroll in the VOYA plan. Details on the VOYA plan, along with rollover instructions that can be initiated after enrollment, can be found on the VOYA brochure that was attached to your transfer notification from Turner & Townsend. Because employees will have the opportunity to make full elections in the year 2025, there will not be an adjustment for lagging contributions that were not made in Q1.

Q78. Hello, I have received a Cobra continuation coverage healthcare notification stating I have gained group healthcare coverage under the CBRE group insurance plan. We have been told our health insurance was still going to be valid and not changing. This notification makes it appear my coverage has changed. Please elaborate on why I have received this letter stating Cobra Continuation coverage. Is there an action I need to conduct since I received this letter? I filled out the 2025 healthcare benefits in Nov 2024 before they were due and received another action to fill it out again before Jan 31, 2025 which I have done again. Healthcare is very critical to me and a prompt response is much appreciated.

Recently, you may have received a COBRA election notice by mail and an email about benefit eligibility instructing you to enroll in benefits. Rest assured, if you enrolled in CBRE benefits for 2025, there will be no lapse in your benefits coverage during your transition to Turner & Townsend and no additional action is needed. As part of the transfer, however, you do have the option to make changes to your coverage by contacting the Benefits Service Center before January 31, 2025.

Q79. I am pregnant and looking for all benefits for my maternity leave. Can I schedule a call with someone to go over the benefits?

Your healthcare benefits and parental leave benefits remain managed by the CBRE benefits team, during the TSA period, which is expected to go through Q3. Please contact CBRE benefits to discuss your upcoming maternity leave.

Q80. Is there information about our 401K? I just tried to go to Voya and was not able to do the enrollment I got the following message: " Your information does not match records in our database. Please try again."I just noticed my paycheck is no longer taking my 401K so I want to enroll as soon as possible.

Enrollment in the Turner & Townsend 401(k) plan is through Voya. Voya has received employee information and will make the participant portal available for participant deferral and investment elections before the end of Q1 2025. You will receive an error message or be informed that VOYA does not have your social security information if you try to commence enrollment prior to the portal being available to you. You will not be permitted to enroll prior to the portal opening, and enrollment commences. Turner & Townsend will notify you when VOYA participant access is available. When the portal is available, you will need to follow the enrollment instructions to enroll in the VOYA plan. Details on the VOYA plan, along with rollover instructions that can be initiated after enrollment, can be found on the VOYA brochure that was attached to your transfer notification from Turner & Townsend.

Q81. With the delay in being enrolled in the Voya 401K until sometime in the 1Q2025, are there any plans to compensate employees for the lost contributions, matching and earnings?

Because employees will have the opportunity to make full elections in the year 2025, there will not be an adjustment for lagging contributions that were not made in Q1.

Q82. My CBRE 401K was terminated after the Jan 1st transfer to Turner & Townsend. Does Fidelity charge any fees to me since CBRE no longer sponsors my 401K? What will my salary increase be to make up for no Turner & Townsend 401K matching in the first quarter of 2025?

You will need to contact Fidelity to understand their fee structure. Instructions on rolling over your plan was issued with your transfer notification. There will be no adjustment to salary for the lack of matching in Q1 because you will be able to fully contribute to the plan for the balance of 2025.

Q83. How do we access our payroll information and W2 online at Turner & Townsend? We were able to access it at CBRE through the MyCBRE website, and could make changes to our direct deposit, etc.

Because your payroll is still being processed by CBRE, you will access your paystubs and W2's through MyCBRE website. Once you migrate to Turner & Townsend payroll, you will access your paystubs through Paycom. Instructions on how to enroll and access Paycom will be sent at the time of the transition.

Q84. CBRE has a cell phone reimbursement plan / employees can elect to port our number to a CBRE plan. Will that stay the same under Turner & Townsend or does Turner & Townsend have a different plan?

Turner & Townsend has a company plan that includes providing cell phones to all employees. The decision regarding the integration of former CBRE employee plans into the company plan is still pending and will be determined as part of the TSA process.

Q85. Under the new Voya 401K paperwork, it notes the vesting schedule for employer contributions. Will service at CBRE be counted towards the 3 years for full vesting? Or do we start at 0%?

Employees that were part of the transition on 1/1/2025 will be fully vested in the Turner & Townsend 401(k) plan employer contributions.

Q86. Will my health insurance coverage change to a different plan and company after the merger?

Employees will continue on their CBRE benefits during the TSA period. When the plan is finalized for the combined business, we will share plan details broadly.

Q87. I'm over 50 and qualify for an investment maximum of $31,000. The 401k system only allowed $23,500 to be contributed. How do I set-up the additional withdrawal?

If you qualify for the catch-up contribution, you do not need to make a separate election in Voya. Catch-up contributions will automatically begin after you have contributed $23,500 in 2025, ensuring a seamless process.

Q88. Does Turner & Townsend/Voya automatically stop 401k payroll deductions once we've reached our yearly IRS max or do I need to calculate the math to have it stop by the end of the year? Transitioned CBRE PJM employees still have their payroll done by CBRE. I asked Turner & Townsend and they sent me back to CBRE, and CBRE sent me back to Turner & Townsend.

The Turner & Townsend and CBRE payroll systems automatically cap employee's deductions to avoid them from contributing over the IRS maximum.

Q89. The correspondence regarding 401k enrollment said Turner & Townsend will provide a one-time salary increase to address the difference in employer matching contribution rates based on your 2024 employee contributions, to be added on top of your 2025 annual base salary. 2024 was the first year in my career that I lowered my 401k contributions below the full matching amount because we took on the massive expense of daycare ($2,500 a month per child). Does this mean that I am not eligible for the 1% salary increase to address the difference in employer matching contributions? If that is the case, then I would be pretty unhappy about it because I didn't know in 2024 that my 401k contributions that year would impact my future compensation especially at a time where, with these daycare expenses, every percent of compensation is incredibly important to my family's finances. If I had known this last year, we would have contributed less to my husbands 401k in 2024 to make sure we were getting the full match from mine.

The true up calculation is based on your contributions to your 401(k) plan made in 2024, while employed by CBRE. Should you experience a difference in employer match received with CBRE in 2024 as it compares to the match you are entitled to receive at T&T in 2025, T&T will provide you a one-time salary increase to make you whole. We only reviewed the contribution history in 2024 to make that determination. There is not an initiative to provide employees with a 1% blanket salary increase. The increase people will receive are directly related to their contribution match history.

The Turner & Townsend and CBRE payroll systems automatically cap employee's deductions to avoid them from contributing over the IRS maximum.

Q90. I enrolled in Voya 401 K just fine today. When I go to the website to register so I have online access and can also log un using the app it says I need a PIN to register. The only two options are to enter my work email to have the PIN number emailed to me or US mail which will take 5-7 Business Days. When I enter my work email @CBRE.com it says there is no record of that email. If I enter the same email but @turntown.com it says it sent me the PIN. How can a transferred employee access their Turner & Townsend email? Without the PIN have no access to my 401K after enrollment. I requested the US Mail of the PIN and will be waiting 5-7 business days unless you can help me access my TT email. if it even exists.

Voya requires a 1 day waiting period before registering for online access. After the waiting period you wil abe able to register with your CBRE e-mail to register for full access to your Voya account.

Q91. Will Turner & Townsend reimburse membership fees for professional affiliations such as the American Institute of Architects? Fees typically in the $800 range.

Turner & Townsend covers membership fees for professional organizations. However, the review of our current policies and practices is underway as we merge our two businesses together.

Q92. How do I sign up for 401K and/or Roth IRA?

The Turner & Townsend 401(k) plan became availble for employees to enroll on February 28, 2025 through the Voya website.

Q93. I just transferred with CBRE design collective to Turner & Townsend. It was explained to me that my existing 401K contributions to my CBRE plan would stop, and a new enrollment with voya would open soon. The rollover option for the account is now active since I am no longer with CBRE, but it does not allow me to move the full amount only the vested amount, although I am still an employee. how will I be able to rollover the remaining unvested portion if I am no longer accruing time with CBRE to reach fully vested, 3 years? I do not want to rollover to Voya. I want to keep all my money with Fidelity.

If you are keeping funds with Fidelity you will have to contact them for assistance. Fidelity’s call representatives can be contacted at 844-880-2273 Monday through Friday, 8:30am – 8pm Eastern Time.

Q94. I'm thinking of retiring in 2025. If I were to wait until July 1, 2025, would I be entitled to 1/2 bonus? I believe this was the case before the transition CBRE PJM to Turner & Townsend.

Retirement: If a Participant retires who meets the Company’s criteria of age 55 or older with at least 15 years of service or 65 years of age with at least 10 years of service and participated in the Plan for at least 6 full months of the Plan Year, eligibility may be prorated based on the number of full months of participation in the Plan Year. A prorated bonus, if any, would be paid at the time bonuses are paid to all Participants. If participation in the Plan is less than 6 full months during the Plan Year, the employee is not eligible for a bonus for that Plan Year.

Q95. Since our new 401K accounts are not set up yet in Mid-February - we cannot make contributions and therefor receive a company match - how are we going to be made whole for the gap in 401K contributions and company match?

You will be able increase the percentage of compensation you would otherwise contribute, or you may make a flat dollar contribution to the T&T 401(k) Plan once the Voya platform is live before the end of Q1 2025 so you can maximize your elective contributions for the year. T&T will make a “true-up” matching contribution to your T&T 401(k) Plan account following the end of the 2025 calendar year. This true-up match will ensure that you receive a match of up to 6% of your compensation calculated on a full calendar year basis. Because this true-up match is calculated by taking into account your 2025 compensation paid before you become eligible to participate in the T&T 401(k) Plan, it will help ensure that you do not miss out on the full match that you otherwise could receive. To maximize your matching contribution for 2025, you should consider contributing more than 6% of your eligible compensation each pay period beginning when you enter the T&T 401(k) Plan in Q1 of 2025.

Q96. As a new employee to Turner & Townsend that has transitioned from CBRE, will we be receiving a benefits and onboarding information like a new employee? And if so, what format?

Turner & Townsend currently offers employees a robust, comprehensive and competitive benefits package. When the plan is finalized for the combined business, we will share plan details broadly.

Q97. Does Turner & Townsend offer tuition reimbursement for their employees? If so, what is the annual limit?

Turner & Townsend has an annual tuition reimbursement of $5,000. However, the review of our current policies and practices is underway as we merge our two businesses together.

Q98. Does Turner & Townsend support its employees in getting professional certifications (NCIDQ, Project Management, etc.)?

Turner & Townsend supports obtaining professional certifications through the L&D policy. However, the review of our current policies and practices is underway as we merge our two businesses together.

Q99. I need a verification of employment. Who would I tell a lender to contact?

Verifications of employment can be obtain through The Work Number by following the steps below: Access The Work Number (https://employees.theworknumber.com/) Select Log in and follow the prompts Enter the Employer code 12424 for historical data or 387780 for data from 2023 and beyond If this is your first time choose Register Now If you are a returning user enter your username and password You will be walked through all the steps to help verify your identity and keep your account private while offering helpful messages if you have problems This service can be used when you apply for a loan, need a reference check, lease an apartment or any other instance where proof of income or employment is needed. If you require further assistance, you can contact The Work Number Employee Service Center at 866-604-6572.

Q100. The language in the FAQs regarding Turner & Townsend Voya 401k match is unclear or (at a minimum) is missing specific information. The language states that Voya 401k participants will receive "up to" a 6% match from Turner & Townsend as long as the participant contributes a minimum 6% pretax. The language says that a "catch up" employer contribution will be made at the end of the 2025 FY. My question is this: what is the match prior to EOY 2025? The first contribution to my Voya 401k account has been made (today) and it is at 3%. Assuming my contribution remains at or above 6%, will an additional 3% employer contribution be made at YE?

Turner & Townsend, Inc. will match 50% of your contributions to the Plan, including catch-up contributions, up to the first 6% of your eligible wages that you contribute for the year. The Plan includes a year-end true-up feature through which, if necessary, Turner & Townsend, Inc. will make an additional matching contribution to your account, after the end of the year to ensure that your matching contributions are at least 50% of contributions up to the first 6% of eligible wages that you defer when calculated using the full calendar year contributions and eligible compensation.

Q101. Switching our 401k and you are now saying we have to wait 3 yrs to vest for the employer match? Why would this be the case? CBRE owns Turner & Townsend and I have over 10yrs with CBRE now I am required to Vest again in my 401k. This is not an ideal situation.

Employees who were part of the transition from CBRE to T&T on 1/1/25, will be 100% vested under the CBRE 401(k) Plan as well as the T&T 401(k) Plan.

Q102. Can you please tell me who Turner & Townsend healthcare insurance is in the U.S.? Struggling with getting much needed medicine with United Healthcare while under CBRE and hoping for improved insurance come 2026.

Turner & Townsend currently offers employees a robust, comprehensive and competitive benefits package. When the plan is finalized for the combined business, we will share plan details broadly.

Q1. Will I be moving offices?

For CBRE Project Management employees, where there is not a CBRE office, but there is a Turner & Townsend office, employees should contact local market leaders to arrange office access.

There are no office changes for Turner & Townsend employees.

Q2. Will Turner & Townsend and CBRE Project Management continue to focus on their sector model?

Turner & Townsend has always had a very sector driven model. We’re great believers in the discipline that going to market in sectors brings understanding of the business models of the clients. We recognize the need to align on a common set of sectors within our combined business. Over the next few months, as part of our planning, we’ll be working to align our sectors so that we can be seamless across them and interact more easily with the wider CBRE business.

Q3. Will the CBRE Investor Group (who service the Property Management teams and all the buildings they manage) continue to service and grow when it becomes part of Turner & Townsend?

Yes – the combined business will continue to service all CBRE lines of business in the same way they do now.

Q4. We have quite a few framework responses we are working on, both new and rebids. Will markets where we now use CBRE entities remain the same in 2025 or will these now be all Turner & Townsend entities?

Most contracting entities will change to a Turner & Townsend entity on Day 1 or during 2025. This is a complex exercise and there are different country level approaches to satisfy regulatory constraints. We have developed contracting dispositions to inform bidding in the short and medium term and any queries should be raised with your regional leadership.

Q5. How do you see our combined business managing and prioritizing small projects? Will we continue to focus on these?

Yes. What will be special about our combination is that we can offer comprehensive services to global clients, no matter where they are or the size of their projects. Whether it’s a $50,000 project or $50 million project, what defines us is that we can do it better than anyone else. We’re very keen to enable capability right across the spectrum of projects and, at the same time, be more intelligent than our competitors in the way that we deliver them.

Q6. Will access to CBRE offices continue? I live close to the WLA office near Century City and appreciate the option to go in and work, as well as El Segundo near LAX.

Yes, access to CBRE offices will not change.

Q7. I am working on the UnitedHealth Group account with CBRE and everyone on the account works remote with travel to sites as needed. I want to make sure that is not going to change once the merger happens.

On January 1, everyone should continue to work from the locations and in the way they were ahead of the transition. Should a change be necessary in the future, information will be provided ahead of time.

Q8. There is an opportunity for additional PM resources on the CenterPoint Energy account. Please let me know who I need to contact in order to have a requisition published.

Job requisition services are covered under Transitional Service Agreement by CBRE to Turner & Townsend. Please follow the same process as you did ahead of January 1.

Q9. To clarify, our enterprise account has a managed principal delivery model, the contracts we hold with our vendors stay will CBRE, is that correct?

No contracts novated on day 1. Therefore, if you had an existing contract with the client in effect, that contract is still between the client and the CBRE legacy organization. Since this is the case with your client contract, vendor contracts would be similar. If you need to enter a new contract with the client, please reference guidance within the operational guide and reach out to your senior leadership if you have additional questions.

Q10. As a project manager on a Life Sciences, Enterprise account, occasionally CBRE manages sub-contractors directly. CBRE has a California Contractors License to do this type of sub-contracting management. As Turner & Townsend, if we are listed as the primary contractor and managing sub-contractors, do we have the appropriate General Contractors License? If so, what is the number we will use for official purposes.

Turner & Townsend NewCo and CBRE can both utilize the CA GC license. PO Box 26000 Sacramento, CA, 95287 (800)321-2752 1/22/2019 1/31/2027 General B-General Building 1049244 Clint Stancil. CBRE GWS, Licentia LLC

Q11. The Investor project management business generates their own AIA contracts for agreement between CBRE & General Contractor. 1. Do we need to alter the company name? 2. Do we follow the Principal DOA for these? 3. The Investor team provides an addendum against a Property Management agreement for project management engagement. Do we need to have this looked at for alignment with newco?

We have worked with the Investor PJM business and Property Management team to update the PJM addendum for future deals. A few addendums have also been amended to bring in Turner & Townsend references. Any PJM work orders under these new or amended addendums will utilize Turner & Townsend entities. All PJM work under existing unamended addendums (that do not have Turner & Townsend references) will continue to be provided through CBRE entities. The GC contract forms have been updated as well. Where the client contract is under CBRE, we will use CBRE entities for all downstream work and where client contracts are with Turner & Townsend, the downstream contracts will be with Turner & Townsend as well. We generally don’t use AIA for principal work. Where we act as agent and client asks us to sign GC forms as agent of client, we use AIA forms and the entity approach will be as stated earlier. If this question is with respect to entiites, then please see above. If this question si with respect to contract signatories, then PJM team is authorised to sign PJM contracts under CBRE entities.

Q12. I have a 2x MSA for an investor client requesting project management services globally. Can we propose global pricing, what Turner & Townsend entity would we use, and who approves this for an MSA?

Multi-X contracts are a collaboration with CBRE legal entity and, most likely, the CBRE legal entity will hold the MSA. Yes, we are able to provide global services and rates. Rates will depend on global location and services provided. The intended employees (PjM or T&T Legacy) and duration of the contract will guide which T&T legal entity we would utilize and we would utilize that legal entity's DOA for internal signoff. Please reference the operational guide for more detail or reach out to your line manager for guidance.