Proactively managing a unique property portfolio. Worldwide.

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1 Proactively managing a unique property portfolio. Worldwide.

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3 Dear tenants, prospective tenants and business partners, Signing a lease on a commercial property generally means committing for an extended period, making it even more important to have a trusted, experienced contract partner such as Union Investment at your side. We have been active in the property market for more 50 years now and hold around 350 properties in 24 countries with a total value of some EUR 27 billion. As responsible real estate managers, our focus is on the needs of our tenants, the quality of the properties, the environment, and last but not least on commercial success, which is evidenced by stable returns and long-term leases. Accordingly, we have always regarded proactive tenant support and property management as key. A combination of in-house teams and close cooperation with professional partners allows us to apply high standards of quality and sustainability worldwide. The results are impressive: the overall occupancy rate across our fund properties is around 96% *. We also continue to deliver excellent letting and reletting performance, year after year. And in terms of sustainability, we have long been one of the most progressive companies in our sector. Consistent with these successful policies, further ongoing investment in existing properties is designed to ensure they remain top addresses for our tenants. You are warmly invited to continue sharing this journey with us. Best regards, Volker Noack Member of the Management Board Union Investment Real Estate GmbH * Excl. immofonds 1 3

4 Union Investment the asset management expertise of an entire corporate group Union Investment has been active in the real estate markets for more 50 years and is now one of Europe s leading property investment managers. Accumulated expertise, an attractive portfolio in top locations, professional tenant support and a passion for real estate are what set us apart. Zebra Tower, Warsaw, Poland Union Investment is one of Germany s largest fund managers and the fund management specialist within the cooperative FinanzGruppe alliance, which includes over 1,100 cooperative banks (Volksbanken und Raiffeisenbanken). After more than 60 years in the fund business, the Union Investment Group now employs 2,700 people and has assets under management of around EUR 275 billion. The portfolio covers all the major asset classes, from equity funds, bond funds, money market, multi-asset, guarantee and capital protected funds through to open-ended real estate funds. Global real estate expertise Union Investment Real Estate GmbH and Union Investment Institutional Property GmbH are the real estate specialists within the Union Investment Group. Since 1965, we have been offering tailored indirect property investment products to both private and institutional investors. We currently manage open-ended funds with total assets worth approximately EUR 31 billion, while always remaining mindful of our fiduciary duty and responsibility to our investors. This approach has been highly successful: Union Investment is currently number one in the retail open-ended real estate and special real estate fund sector in Germany. Our broadly diversified real estate portfolio comprises around 350 premium properties and projects with total space in excess of 6 million sq m in 24 countries worldwide including Germany and more than 16 other European countries, the US, Mexico, Japan, South-East Asia and Australia. The portfolio consists of office buildings, business hotels, shopping centres and logistics properties, plus a small proportion of residential properties. Alexa, Berlin, Germany 4

5 A broadly diversified real estate portfolio Distribution of total portfolio by type of use Geographic distribution of total portfolio Logistics Residential Hotels Office Retail Valuation in EUR m % Type of use 27, n Office 15, n Retail 8, n Hotels 2, n Logistics n Residential Americas Valuation in EUR m: 4,196.9 Properties: 24 Germany Valuation in EUR m: 10,736.2 Properties: 180 Europe (excl. Germany) Valuation in EUR m: 11,266.3 Properties: 136 Asia-Pacific Valuation in EUR m: 1,007.2 Properties: 9 5

6 Focusing on sustainable quality In order to meet the demands of our tenants, to continue improving the environmental performance of our properties and last but not least to fulfil our commercial obligations to our investors, we are fully committed to ensuring the sustainable quality of our property portfolio. Union Investment is a property investor with a focus on the long term. Our core mission is to secure the future viability of our portfolio. As such, we are committed to active asset management across the entire real estate value chain. The process starts at the acquisition stage we focus on quality properties in top locations with equally good development potential, and invest mainly in properties with sustainable building quality. Maison de La Défense, Paris, France Excellent prospects for our existing properties To prevent our properties being negatively impacted by ageing and to ensure they remain competitive, we carry out regular assessments and develop individual strategies for each property from structural maintenance through extension work to comprehensive refurbishment. As an active owner, we are willing to undertake substantial improvements. Professional planning and execution are important to us: the work is often handled by our team of in-house experts in the Real Estate Project Management department. This approach is of particular benefit to our tenants. Anyone who chooses to rent a property from Union Investment can be sure that their building will continue to meet high quality standards into the future. A sustainable track record As an investment company, we have a responsibility not only towards our investors and tenants, but also One Coleman Street, London, UK towards society and the environment. In order to maintain long-term income stability, we have therefore embedded sustainability in our business model as a strategic priority. Since 2009, we have been using proprietary methods to assess our investments. At the heart of this commitment is our Sustainable Investment Check, which was introduced as a compulsory measure for acquisitions and for the annual assessment of fund properties. It covers six criteria: energy, resources, economy, user comfort, location and operation. Our Portfolio Sustainability Manage- 6

7 Radisson Blu Hotel Amsterdam, Amsterdam, Netherlands ment system, meanwhile, involves working closely with our tenants to collect property-specific data, such as energy and water consumption, and waste volumes. The data serves as the basis for effective optimisation measures. Benefits include reduced operating costs, delivering direct savings for our tenants. Top marks for asset management Rating agency Scope has confirmed the high quality of our asset management, with Union Investment s real estate division receiving the top rating of AAA AMR in the 2016 annual assessment of real estate asset management. In addition, Scope awarded us the Scope Award 2015 in the category Open-Ended Funds Retail Real Estate European due partly to our leading role in the development of sustainability standards. In addition to our broadly diversified portfolios, the jury praised our consistently high occupancy rates. Our active asset management approach was a crucial contributor to this success. Our asset management objectives: Secure the future viability of our portfolio through ongoing investment in existing properties, thereby creating value for our investors Ensure stable income for our funds through high occupancy rates and long-term leases Attract new tenants Improve tenant loyalty Safeguard the competitiveness of properties on the market Increase the attractiveness of our buildings to tenants Boost the energy efficiency of our fund properties 7

8 Space for business success 8,000 tenants * operate their businesses from our around 350 properties, and surveys show that tenant satisfaction is above average. That is no coincidence: our asset managers provide close support for tenants and ensure building operations run smoothly. Worldwide. Shiomi-Koyama Building, Tokyo, Japan We want our tenants to feel at home in our fund properties, allowing them to focus fully on their core business. After all, satisfied tenants are also loyal tenants and our most important asset. We therefore attach great importance to excellent tenant support. But Hamburg is unlike Singapore, and shopping centres are not the same as hotels. This is why we deploy specialist teams for the different markets, property types and tasks. They know their properties, as well as understanding specific tenant requirements. They are attuned to the market, and manage the relevant processes and external partners. Our six asset management teams: Asset Management Germany Asset Management Europe (excl. Spain and Portugal) Asset Management International (Spain, Portugal, Asia-Pacific and Americas) Asset Management Hotels Asset Management Shopping Centres Real Estate Project Management Our tenants worldwide benefit from binding standards for tenant support, a direct point of contact, regular on-site meetings, tenant events and satisfaction surveys. We are responsive to any change requests that tenants make. For special property types such as hotels and shopping centres, we act as a strategic partner to our centre managers, leaseholders and hotel operators. We are driven by a shared desire to safeguard the market competitiveness of our propertiess, and committed to the business success of our partners and of our real estate investments. Chilehaus, Hamburg, Germany * Excl. immofonds 1 8

9 A snapshot of our property portfolio Facts and figures Meliá Paris La Défense, Paris, France Torre Mayor, Mexico City, Mexico 349 properties 27.2 billion real estate assets 6.4 million sq m of total space Around 8,000 tenants * Around 96% * average occupancy rate of our fund holdings 93 properties and projects with sustainability (pre-)certification 1000 Main, Houston, USA CityQuartier DomAquarée, Berlin, Germany Palladium, Prague, Czech Republic * Excl. immofonds 1 9

10 Our strengths your benefits at a glance Choose a real estate manager that offers a compelling perspective: Highly experienced Large selection of top properties worldwide Exceptional commitment to meeting customer needs Reliable negotiating partner Named contacts as part of a long-term collaborative partnership Flexible response to change requests Professional implementation of maintenance and modifications, mostly managed in-house Collaboration with reliable, respected partners for property and centre management In short: you are in good hands with Union Investment. Binding global standards for tenant support Specialist expertise in shopping centres and hotels 10

11 Interested? Then read on. Find out more about our six asset management units, including details of the relevant contacts. We look forward to hearing from you. Einzigartige Immobilien immer beste Lagen. Deutschlandweit. Exceptional properties always in prime locations. Across Europe. Outstanding properties always top addresses. All over the world. Bei Union Investment in guten Händen. In good hands at Union Investment. In good hands at Union Investment. Outstanding hotels always with exceptional comfort. Across Europe. Attractive shopping centres always good for business. Across Europe. Ambitious projects always featuring sustainable quality. Worldwide. In good hands at Union Investment. In good hands at Union Investment. In good hands at Union Investment.

12 This document is not intended for passing on to investors. The information and visuals contained in this presentation were prepared by Union Investment (Marketing, Communication) using its best judgement. The information was up to date at the time of producing the presentation and is subject to change on a regular basis. Information regarding opportunities and risks associated with the funds must be taken solely from the latest prospectuses, contractual terms and the relevant annual and semi-annual reports. Union Investment Real Estate GmbH Union Investment Institutional Property GmbH Valentinskamp 70 / EMPORIO Hamburg, Germany Telefon: Telefax: service@union-investment.de All information current at