Capital increase of up to CHF 197.2 million in March 2018

Three (3) current shares provide an entitlement to the acquisition of one (1) new share at an issue price of CHF 120.00 net each. The issue is being carried out as a commission business on best effort basis within the context of a public acquisition offer in Switzerland. Acquisition rights can be bought and sold during the period between 15 March and 27 March 2018. The issue of new shares is limited to 1’649’336 at most, whereby the issue amount will be reduced accordingly. Shares not subscribed to will not be issued, reducing the issue amount. The precise number of shares to be newly issued will be determined following the end of the acquisition period based on the subscriptions received. The fund management will inform investors about the definitive number of newly issued shares on 4 April 2018. Payment for the shares to be newly issued will take place on 6 April 2018. The proceeds from the issue will be used for the increase and diversification of the real estate portfolio.