Press release VASTNED SHARPENS STRATEGY: EXPANSION IN PREMIUM CITIES. Target of 65% high street shops has been reached

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1 VASTNED SHARPENS STRATEGY: EXPANSION IN PREMIUM CITIES Target of 65% high shops has been reached Rotterdam, 14 January 2014 Vastned, the listed European retail property fund focusing on venues for premium shopping, has reached its target of 65% high shops, now the portfolio consists of 66% high shops. Vastned is going to focus on expanding in premium cities: European cities where consumers prefer to go shopping and where national and international retailers prefer to have outlets. The proportion of high shops in the portfolio is currently 66%. Consequently, the target of 65% high shops that Vastned set itself in September 2011, has been achieved. Vastned's new objective is to raise the rate of premium city high shops to 75% of the total portfolio. This is the main ambition of the updated strategy. Currently approximately 45% of Vastned's portfolio is invested in high shops in these 'premium cities'. Premium cities are attractive shopping cities with positive demographic growth, strong purchasing power, a historic city centre, tourist appeal and the presence of national and international institutions and universities. Vastned's acquisition policy is focused on premium cities in the countries where it already operates. The company aims to create clusters in these premium cities so as to be able to offer retailers a broad supply. Vastned already has a strong presence in premium cities.

2 The following cities are designated as premium cities: Premium cities Netherlands France Belgium Spain Turkey Amsterdam, Breda, Den Bosch, Maastricht, The Hague and Utrecht Bordeaux, Lyons, Lille, Nice/Cannes, Paris and Toulouse Antwerp, Bruges, Brussels, and Ghent Barcelona, Bilbao, Madrid, Málaga, Seville and Valencia Istanbul High shops outperform other property investments Vastned's results show that high shops outperform the 'other investments' category, with higher occupancy rates, higher like-for-like rent growth and more stable values. High shops vs other investments June 2013 High Other High Other High Other Occupancy rate 97.1% 93.7% 97.4% 93.0% 95.5% 92.0% Like-for-like rent 1.8% 0.2% 2.0% (2.2)% 1.3% (4.2)% growth Value growth 3.8% 0.9% 1.3% (13.5)% 0.8% (2.8)% * Most recent published results. Vastned will publish its FY 2013 results on 6 March This underpins Vastned's high strategy update, aiming to expand in premium cities. Quality remains the first principle of the strategy. Definitely also in the area of financing, where Vastned pursues a conservative financing policy. The proactive and hands-on approach within the organisation and the international account management will remain essential for successful implementation of the strategy. Next to high shops in premium cities, 25% of the portfolio will comprise investment properties that are not high shops in premium cities, such as so-called baan-winkels in Belgium, well-located supermarkets and other high-quality retail locations with good and stable returns.

3 Press release Main strategic objectives achieved The proportion of high shops in the portfolio is currentlyy 66%. Consequently, the target of 65% high shops that Vastned set itself in September 2011, has been achieved. This year, Vastned has expandedd its high portfolio with acquisitions in the very best shopping s in the ancient city centres of the following premium cities: Utrecht, Bruges, Bordeauxx and Amsterdam for approx. 100 million in total. Bordeaux, Cours de l Intendance Bordeaux, Cours de l Intendance Amsterdam, P.C. Hooftstraat Vastned has also made good progress on the two other pillarss of its strategy - maintaining a conservative financing policyy and enhancing thee quality of the organisation with focus on the tenant. Thee loan-to-value is with 41.5% *, well within the 40%-45% range. The loan portfolio has been diversified by one the one hand spreading it more equally over several banks and onn the other hand by raising the share of non-bank loans. * as of end of June 2013

4 Press release Furthermore, the organisation has clearly gained in quality with new management in both France and the Netherlands, and the introduction of international account management, instilling a more proactivee approachh and a more hands-on mind set. Taco de Groot, Vastned CEO: 'Due to the successful executionn of our strategy, Vastned is now a focused high property fund with a large numberr of the best locations in popular shopping s. Having realised thee main objectives we announced in September 2011, this is a logical time for uss to updatee our strategy. Our focus on quality remains paramount. Our recentt results, but certainly also our close contact with retailers and the observedd changess in consumer behaviour, have convinced us that we must take into accountt not only the quality of the high s themselves, but also the cities wheree those s are. This underlies our decision to expand in high shops inn the bestt shopping cities, orr 'premiumm cities'. We set ourselves a concrete target: we want 75% of our portfolio to be high shops in premiumm cities. Vastned will work towards this aim a in its customary pragmatic and realistic way. Expansion in these premium cities will helpp raise the quality of the portfolio. We have the financial means within our current prudent financial structures to do so. This is a continuation of the existing financing strategy.' Brugge, Steenstraat 38

5 About Vastned Vastned is a listed European retail property fund focusing on venues for premium shopping. Vastned invests in selected cities in Europe and Turkey, with a clear focus on the best retail property in the most popular shopping s (high s). Vastned's tenants are strong and leading international and national retail brands. The property portfolio has a size of approximately 1.8 billion. Further information: Anneke Hoijtink, Investor Relations Manager Tel: