Participating companies: Davy would like to invite you to our annual Real Estate Site Visit which will be held on Wednesday, 20 and Thursday, 21 April 2016.

plc Dublin’s real estate capital market has transitioned from distressed to opportunistic to  plc core in a relatively short period of time. International equity and debt investors have  Green REIT been responsible for circa 50% of direct investment volumes since the market turned in  Hibernia REIT 2012. The decision making of these investors will play a central role on how the cycle

 IRES REIT moves from here.  Kennedy Wilson Europe

In occupier markets, five years of consecutive positive net absorption in the office sector Date has seen rents double since trough in 2012 and contributed to the all-Dublin vacancy rate 20 & 21 April 2016 falling to 8.7% by end-2015. A similar pattern is evident in the residential, retail and hotel sectors where rents and rates have grown strongly and occupancy has been robust.

Location We will discuss the changing structure of Ireland’s real estate capital market, the outlook

Dublin for the public companies invested in the market given the return of the crane to Dublin’s skyline and visit active development projects in Dublin city centre and suburban markets.

Contact For further details EVENT OUTLINE Tel: +353 1 614 8829 Email: [email protected] WEDNESDAY, 20 APRIL 2016

PANEL DISCUSSION | 10.00 – 12.00 Registration We will contextualize the development projects of each of the listed companies relative Click on the link below to to the new supply pipeline in the office, retail, industrial, residential, and hotel sectors register or tel: +353 1 614 8829

DOCKLANDS TOUR | 13.30 – 17.30 The afternoon will be spent touring Dublin’s Docklands market where the volume of REGISTER development activity in the city centre will be delivered over the coming years

DINNER | 19.00 – 22:30 DECLINE Davy will host dinner with guest speaker where participants will have an opportunity to

network with public and private companies and agencies operating in the broader sector

THURSDAY, 21 APRIL 2016

BREAKFAST | 07.30 – 08.30 Breakfast session : Outlook for foreign direct investment into Ireland

CORE CBD TOUR | 08.45 – 11.00 The breakfast session will be followed by senior management presentations and focused site visits to various office projects underway in Dublin 2

SOUTH SUBURBS TOUR | 11.30 – 16.30

The remainder of the day will be spent touring development projects and properties in Dublin’s south suburbs

FOR THE ATTENTION OF CLIENTS OF DAVY SECURITIES, THIS CONFERENCE IS HOSTED BY OUR AFFILIATE, J&E DAVY. Davy Securities is a member of FINRA and SIPC and is regulated by the Central . J&E Davy, trading as Davy is regulated by the Central Bank of Ireland. Davy is a member of the A Irish DETAILED Stock Exchange, AGENDA the London Stock WILL Exchange BE andAVAILABLE . For branches LATER in the IN UK, Q1 Davy is authorised by the Central Bank of Ireland and subject to limited regulation by the Financial Conduct Authority. Details about the extent of our regulation by the Financial Conduct Authority are available from us on request.