03 May No.6. Venue: RBC Dexia, Esch-Alzette, Luxembourg

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1 03 May 2012 No.6 Venue: RBC Dexia, Esch-Alzette, Luxembourg

2 Dear Fund Industry Professional, It is our pleasure to announce the second of a special series of Leading Edge Conferences that will put the spotlight on each of the three alternative asset classes, Private Equity, Real Estate and Hedge Funds and how they will be impacted by the AIFMD. This one day conference will be entirely dedicated to the Real Estate arena and will combine thorough legal and regulatory analysis, highly topical market research and practical insights, to provide a perfect platform for all industry stakeholders willing to align their Real Estate strategies with leading edge industry developments. Impact of the AIFMD on Real Estate Funds An ALFI Leading Edge Conference In association with INREV 3 rd May 2012 At the Premises of RBC Dexia Investor Services S.A., Esch-Alzette, Luxembourg The conference will be a unique opportunity to hear from and exchange views with industry leading experts on: Case study on the scope, application and determination of the AIFMD Discussion of the practical application of the key requirements of the AIFMD RE structures: Impact of taxation Implementation of the AIFMD into national law Actions for the industry going forward Please find the conference programme and the registration form on the following pages. We are offering ALFI and INREV members a very modest attendance fee starting at the early bird rate of 250 for registrations made and paid by the 6 th April The non-member rate is 550. We hope to have the pleasure of welcoming you to the conference. Yours sincerely Camille Thommes Director General 03 May 2012

3 8.30 Registration & Refreshments Welcome & introduction Jeff Rupp, Director of Public Affairs, INREV Marc Saluzzi, Chairman, ALFI Chairperson s introduction Keith Burman, Senior Managing Director, State Street Global Services, Luxembourg Setting the scene Implementation timeline Release of final AIFMD implementation measures ( Level 2 measures ) Challenges and opportunities for Luxembourg Keith Burman, Senior Managing Director, State Street Global Services, Luxembourg Case study on the scope application and determination of the AIFMD Scope of application Regulated and unregulated real estate funds Determination of the AIFM Considerations for deciding who is the AIFM Implications of getting registered as an AIFM Joëlle Hauser, Partner, Investment Funds, Clifford Chance, Luxembourg Laurent Schummer, Partner, Linklaters LLP, Luxembourg Coffee Break Part I: Discussion of the practical application of the key requirements of the AIFMD Risk management Remuneration Conflicts of interest Moderator: Benjamin Lam, Partner, Real Estate Leader Deloitte Luxembourg Daniela Klasén-Martin, Managing Director, DCG, Luxembourg Catherine Martougin, Partner, Arendt & Medernach, Luxembourg Kenneth MacRae, Managing Director, Hines Luxembourg Alexander Taft, Managing Director, Head of Investment Structuring, Europe, Invesco Real Estate GmbH, Munich Part II: Discussion of the practical application of the key requirements of the AIFMD Valuation Delegation Depositary Leverage Transparency Moderator: Marie-Elisa Roussel, Partner, PWC, Luxembourg Patrick Reuter, Partner, Elvinger, Hoss & Prussen, Luxembourg Ramon van Heusden, Managing Director, Citco REIF Services, Luxembourg John Redmond, Head of Operations European Real Estate, Fidelity Worldwide Investment, London Buffet Lunch 2903 March May 2012

4 14.00 RE Structures: Impact of taxation Substance requirements Appointment of an external AIFM Pierre Kreemer, Partner and Tax Leader Real Estate & Infrastructure, KPMG, Luxembourg André Pesch, Principal, Baker & McKenzie, Luxembourg The Implementation of AIFMD in Luxembourg law Approach towards implementation of the AIFMD Anticipated law changes / circulars Claude Niedner, Chairman of the ALFI Alternative Technical Committee, Luxembourg Coffee Break Actions for the industry going forward Current views of the industry on the future impact of the AIFMD Actions to be taken: Update of Industry guidelines Consistency of the implementation of the AIFMD into national legislation Moderator: Michael Hornsby, Partner, Ernst & Young, Luxembourg Peter Cosmetatos, Director of Policy (Finance) British Property Federation, London Dirk Holz, Senior Product Manager, Real Estate and Private Assets, Global Fund Products, RBC Dexia Investor Services Bank S.A., Luxembourg Jeff Rupp, Director of Public Affairs, INREV, Amsterdam Closing remarks Keith Burman, Senior Managing Director, State Street Global Services, Luxembourg Fairwell drink 03 May 2012

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6 conference information VENUE RBC Dexia Investor Services 14, Porte de France, L-4360, Esch-Alzette, Luxembourg PARKING Please use the RBC Dexia underground car park (free) REGISTRATIONS Registration is managed by Parthen R&S. For any requests concerning your registration please contact: Parthen R&S Registration office P.O. Box 25, NL AA Amstelveen, The Netherlands Phone: , Fax: CONFERENCE FEES Please refer to the registration form. The conference fee includes full access to the booked conference sessions and lunch for one delegate as well as one conference documentation package. The fee does not include travel or hotel accommodation. HOTELS We can recommend the Seven Hotel, which is a 5/10 minute drive from the venue. For hotels and/or tourist information you may visit ORGANISER ALFI Association of the Luxembourg Fund Industry Phone Fax: , rue Erasme, L-1468 Luxembourg, Contact: Siobhán Roche / Andreea Bran/ Irene Schultz-Gerstein/Virginie Tripet- events@alfi.lu leading edge conference series July May

7 CONFIRMATION AND PAYMENT: An confirmation will be sent upon receipt of registration. The invoice and conference information will be sent by . Conference fees must be paid prior to the event. Full pre-payment or a credit card guarantee is required. See fees, vat legislation and payment options page. EARLY BIRD RATE: Is only applicable if your payment is made by Friday 6 th April After this date, the normal fee applies. NAME CHANGES/ SUBSTITUTIONS: Your registration is valid for one delegate only. Part-time substitution is not possible. Please send a written notice to the registration office Parthen by Friday 25th Avril 2012 in order to have the correct name appear on the badge. CANCELLATIONS: Must be made in writing to the registration office Parthen (details on previous page under Registrations). If the cancellation is received by Friday 25 th April 2012 reimbursement of the registration fee, minus a 50 handling charge will be made. For cancellations received after this date, or if registrants fail to attend, the full cost is due and no refund will be made. LATE REGISTRATIONS: Registrations made after Friday 25 th April 2012 are welcome (subject to availability). A credit card guarantee is required as the full fee is due upon receipt of your registration number. leading edge conference series 13 July May December 2011

8 Fees* Non-Member ALFI /INREV Members *** Early bird rate ** Normal rate Early bird rate ** Normal rate * Fees are subject to 3 % VAT ** Early bird rate for registration payments made by Friday 6 th April *** In order to benefit from the member rate, the invoice has to be addresssed to the member company. VAT Legislation as from 1 January % VAT applies to all registrations Please complete the VAT Number section according to one of the following options: For companies within the EU: 1) For registrations from a VAT registered company it is mandatory to provide a VAT number (for reporting purposes) in order to process your registration. 2) For registrations from companies that are not VAT registered - please mark 'N/A' in the VAT number section/field. For companies outside the EU: 3) For registrations received from all companies outside the EU, it is not mandatory to provide your VAT number, but please mark 'Non EU' in the VAT number section/field. Conference fees must be paid prior to the conference. All payments are to be made in Euro. Please quote name, company and invoice number for each attendee. 1) By bank transfer to the following bank account: ING Bank Luxembourg - 52, Route d Esch - L Luxembourg Account holder: BIC/Swift Code: Stg. Parthen R&S Derdengelden CELLLULL Account number: IBAN LU ) By Credit Card: Please register online and choose the credit card payment option. For registrations by fax who wish to pay by credit card, please contact the registration office «Parthen». Invoice address: An invoice will be ed to you. 3% VAT will be added. leading edge conference series July May

9 Register online and save 10 per registration! Click here! * Group reservations and special group rates: please contact Parthen (contact details below) PLEASE COMPLETE IN BLOCK CAPITALS First & Last Name: Mr. /Ms Title, Department: Company: Street: ZIP-Code, City: State/ Country: for confirmation: Phone: Fax: Remarks: FEES & VAT legislation: Please refer to the page on fees, vat legislation and payment options Important: To benefit from the member rate, the invoice must be addressed to the member company Completing the VAT field is mandatory The VAT number provided must be that of the company to be invoiced. Invoice address: Company: VAT number: Mandatory ALFI /INREV member (please check, if applicable) Street: ZIP-Code, City: State/ Country: for sending invoice: I herewith register for the ALFI Leading Edge Conference no.6: on 3 rd May 2012 and confirm that I have carefully read and accept the registration information set out in this document. Date: Signature: Please return to: Registration office - Parthen: FAX: registration@parthen.nl Registration office - Parthen: FAX: For any requests concerning your registration please contact: PARTHEN R&S, PO Box 25, NL-1180 AA Amstelveen tel: FAX: leading edge conference series 13 July 2010