Leveraging pan-european investment diversity. We know how.

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1 Leveraging pan-european investment diversity. We know how.

2 The right strategy for each country In Europe, we have an established reputation as a reliable transaction partner with deep knowledge of the individual markets. We intend to continue working closely and proactively with our partners to expand our strong position. A detailed understanding of the economic and cultural diversity across Europe has rarely been more important than it is today. Martin Schellein Head of Investment Management Europe, Union Investment With assets under management totalling EUR 33.2 billion, Union Investment is one of the largest real estate investment managers in Europe. Approximately 40 per cent of the real estate assets are split across 17 European countries (excluding Germany). Our status as an investor that operates throughout Europe is very important to us. As such, we develop an appropriate investment strategy for each country, carefully balancing opportunities and risk. Our goal is to steadily expand and further diversify our European portfolio. A focus on robust markets Since 2015, we have invested over EUR 2.4 billion in various European countries, primarily in the stable markets of France, Ireland, the Netherlands, Sweden and Poland. 7.2 per cent of our portfolio is accounted for Eastern Europe the Czech Republic, Poland and Hungary. Our assessment is that these markets remain attractive due to their sustained economic growth. Engaged throughout Europe Following the Brexit vote, we are being selective about investment in the UK and focusing on secure long-term income. With regard to Southern Europe, specifically Italy, Spain and Portugal, we are taking an opportunistic approach. Our offices in Paris, Madrid and Vienna place our expertise and local knowledge at the heart of the associated national markets. Quality rather than quantity We are interested in high-quality properties ranging in value from EUR 15 million to EUR 500 million, in premium locations or secondary cities, with either core or core plus investment profiles. Thanks to our strong asset management team, we are also in a position to acquire 2

3 properties that require short-term letting efforts. In a highly competitive market environment, early acquisition of development projects provides us with additional options. We have used forward deals in top European locations such as Paris, London, Dublin and Rotterdam but also in secondary cities such as Manchester or Wroclaw to become increasingly active in this segment in recent years. Regional distribution of transaction volume 2011 Q2 / 2017 (in EUR m) Luxembourg Ireland Others UK FIRST, Rotterdam, Netherlands Proactive partnerships As an investor rooted in the cooperative sector, we value long-term, collaborative partnerships and engage with you at your level. This business philosophy delivers a high degree of dependability and transaction reliability. We are ready to tap into new markets and opportunities in Europe as we maintain our high transaction volumes. Let s talk! Poland Finland Sweden Netherlands France EUR m % Transaction volume 7, n UK 2, n France 1, n Netherlands n Sweden n Finland n Poland n Ireland n Luxembourg n Others EUR 11.9 billion of real estate assets in 17 European countries (excluding Germany) 3

4 Our track record building a quality portfolio From the beginning of 2016 to Q2 / 2017, we achieved a transaction volume of EUR 1.8 billion and acquired eight properties and projects across seven different European countries. The details below provide an insight into our portfolio. Grand Central, Paris, France Paris is one of Europe s most important office locations and a core market for Union Investment. Our forward funding acquisition of the Grand Central development project at the city s largest regional station, Saint-Lazare, attracted much attention. The office building is scheduled for completion in 2019 and will offer some 26,000 sqm of rental space split across seven storeys. Grand Central represents a rare opportunity to invest in a new build project in the historic heart of Paris. the individual storeys offer considerable flexibility in terms of usage. As an architectural highlight, The Copyright Building also boasts spacious terrace areas on the fourth and seventh floors. LÁUTRE IMAGES, Foto Paris Grand Central, Paris, France The Copyright Building, London, UK Union Investment has signed a contract to purchase The Copyright Building development project located at 30 Berners Street in London s West End. The seven-storey office building comprises around 10,000 sqm of rental space and is situated in the fast-growing district of Fitzrovia. It is fully let for a fixed term of 20 years to Capita Business Services Limited. Due to its high sustainability standards, the building is set to receive BREEAM Excellent certification. With ceiling heights of up to 2.9 metres, The Copyright Building, London, UK 4

5 Maraton, Poznan, Poland Maraton is a modern office building with 26,000 sqm of flexible rental space. LEED Gold certification is being sought to document the property s sustainability. Maraton is one of the most popular new builds in Poznan due to its top quality construction and location in the CBD. Its eight tenants come primarily from the service sector. The building is located in Poznan city centre near the old town and easily accessible by both private and public transport via major traffic routes. Maraton, Poznan, Poland U7, Stockholm, Sweden U7, Stockholm, Sweden The Uarda 7 (U7) office building in north Stockholm offers approximately 17,400 sqm of space and is located in the fast-growing Arenastaden submarket. The modern, high specification property was completed in April The tenants include Swedish state lottery company Svenska Spel, KPMG and French catering provider Sodexo. U7 s BREEAM rating of Very Good demonstrates its sustainability. In addition to green roofs, the building has a photovoltaic system and is also equipped for heat recovery. Da Vinci, Luxembourg After a 10-year holding period, we sold the Da Vinci office building in summer Constructed in 2004, the building comprises 12,500 sqm of rental space and is located just a few metres away from Luxembourg s international airport. Users of the property can comfortably reach the airport terminals on foot. As well as office areas, the property includes an underground car park with space for 235 cars, plus 83 outdoor parking spaces. Da Vinci, Luxembourg DISPOSAL 5

6 Investment locations in Europe (excl. the DACH region) Netherlands Valuation in EUR m: 1,080.2 Finland Valuation in EUR m: Luxembourg Valuation in EUR m: Sweden Valuation in EUR m: Belgium Valuation in EUR m: UK Valuation in EUR m: 1,072.6 Poland Valuation in EUR m: 1,558.0 Ireland Valuation in EUR m: Czech Republic Valuation in EUR m: France Valuation in EUR m: 2,586.8 Hungary Valuation in EUR m: 40.8 Italy Valuation in EUR m: Turkey Valuation in EUR m: Spain Valuation in EUR m: Portugal Valuation in EUR m: 66.6 Properties Projects 6

7 Our real estate investment criteria The Investment Management Europe 2 team focuses on investing in office and mixed-use properties in Europe (excl. the DACH region). Please only send details of properties that meet our investment criteria. General criteria Core and core plus investments Investment volume of EUR 15 million upwards per property Acquisition structure: asset deals and share deals Financing: 100 per cent self-funded Only properties suitable for third-party use Acquisition of development projects by way of forward funding / forward purchase Office / Mixed-use properties Established locations in Gateway and Secondary Cities (business district, city centre) Focus on properties let on a long-term basis with high cash flow and / or good value appreciation Properties with short- and medium-term leases also considered Not necessarily fully let Existing properties and development projects Older properties, if configuration and layout meet today s requirements Properties with sustainability certification preferred Acquisition of development projects that are speculative or only have a low pre-let level 7

8 Your contacts Martin Schellein Adam Irányi Head of Department Investment Management Europe Phone: martin.schellein@ Head of Investment Management Europe 2 Phone: adam.iranyi@ Kirsten Felden Michael Waldhauser Kubilay Oezbisikletci Senior Investment Manager Central and Eastern Europe Phone: kirsten.felden@ Senior Investment Manager Benelux, Iberia Phone: michael.waldhauser@ Senior Investment Manager Nordic Region, Turkey Phone: kubilay.oezbisikletci@ Gregoire Bailly-Salins Senior Investment Manager France Paris Office Phone: gregoire.bailly-salins@ Friedrich Georg Warmbold Investment Manager United Kingdom, Ireland Phone: friedrichgeorg.warmbold@ Hao Wang Investment Manager Phone: hao.wang@ All information current at 30 June Union Investment Real Estate GmbH Valentinskamp 70 / EMPORIO Hamburg, Germany Union Investment Real Estate France 112 Avenue Kléber Paris, France