Paris, 13 April 2017

AXA Investment Managers - Real Assets completes acquisition of Zeisehof in Hamburg on behalf of CNP Assurances

AXA Investment Managers - Real Assets (“AXA IM - Real Assets”), a global leader in real assets investment and the leading(1) real estate portfolio and asset manager in Europe, announces that it has completed, on behalf of CNP Assurances, the acquisition of Zeisehof, a new office building in Hamburg, Germany, from a joint venture between Procom and Quantum. The acquisition further adds to AXA IM - Real Assets’ property portfolio in Hamburg, totalling 78,235 sqm, across the office and residential sectors.

Completed in March 2017, Zeisehof comprises 13,511 sqm of modern office space across five above- ground and three below-ground levels, with flexible layout options that allows for future sub-lettable individual units as well as space for 191 cars and 161 bicycles. The office is let to WPP, the leading global advertising agency, on a long lease, which commenced in April 2017. Designed by leading architects, Störmer Murphy and Partners, the building is awarded with a DGNB Gold certification.

Centrally located in Hamburg’s fashionable Ottensen neighbourhood, in the district of Altona, the area is renowned for its combination of shopping and leisure amenities which results in significant footfall from across Hamburg. The building benefits from a range of accessible public transport links with several bus routes and the Altona railway station both within a short walk, and Hamburg’s main Hauptbahnhof station and airport less than 25 minutes by car.

Laurent Jacquemin, European Head of Transactions at AXA IM - Real Assets, commented: “Hamburg is an attractive office investment market, where we own on behalf of our clients a number of properties, with robust demand being driven by a lack of new development. The Altona district in particular is demonstrating fundamentals for investments such as this, secured on a strong covenant and a long term lease. This acquisition is also testament to the strength of our local team in sourcing and investing in opportunities that aim to create value for our clients.”

Daniel Thébert, Head of Real Estate Investment at CNP Assurances, commented: “This long-term office building investment in the central and lively district of Hamburg is part of CNP Assurances' long-term and responsible investment strategy. The environmental performance of this building, awarded with a DGNB Gold certification, is in line with our commitment to the ecological and energy transition.”

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1) Source: IP Real Estate Top 100 Investment Management Survey – Nov/Dec 2016

Press Contacts

AXA Investment Managers - Real Assets CNP Assurances Charline Coué, Media Relations Manager Florence de Montmarin, 01 42 18 86 51 Jocelyne Tamssom, Head of Communications Tamara Bernard, 01 42 18 86 19 Tel +33 1 44 45 97 95 [email protected] [email protected]

FTI Consulting Inc. Richard Sunderland, Ellie Sweeney, Richard Gotla, Tom Gough Tél. : +44 20 3727 1000 [email protected]

Note to editors

AXA Investment Managers is an active, long-term, global, multi-asset investor focused on enabling more people to harness the power of investing to meeting their financial goals. By combining investment insight and innovation with robust risk monitoring, we have become one of the largest asset managers in Europe with ambitions to become the chosen investment partner of investors around the world. With approximately €717 billion in assets under management as of end December 2016, AXA IM employs over 2,350 people based in 29 offices around the world. AXA Investment Managers - Real Assets has over €70 billion in assets under management, including €53.4 billion in direct property & infrastructure and €14 billion in real asset finance as of end of December 2016. We offer a 360° approach to investing in real assets, which comprises opportunities in both equity and debt, across different geographies and sectors, as well as via private and listed instruments. We are a global leader in real assets investment, the number one property portfolio and asset manager in Europe (1), and one of the largest worldwide. Our teams have been managing funds and mandates for over 30 years and comprise about 600 people in 15 offices that operate in 24 countries around the world, which provide us with in-depth knowledge of countries, cities and sectors. AXA Investment Managers is part of the AXA Group, a global leader in financial protection and wealth management. Visit our websites: www.axa-im.com / https://realassets.axa-im.com Follow us on Twitter @AXAIM / @AXAIMRealAssets to get our latest information 1) Source: IP Real Estate Top 100 Investment Management Survey – Nov/Dec 2016

CNP Assurances is ’s leading personal insurer with net profits of €1 200 million in 2016. The Group also has operations in other European countries and in Latin America, with a significant presence in Brazil. It has more than 35 million personal risk/protection insured worldwide and more than 14 million savings and pensions policyholders. For 160 years, CNP Assurances has been protecting people against the risks of everyday life. The Group designs and manages life , pension, personal risk insurance and protection products (term creditor insurance and health insurance). ■ In France, CNP Assurances distributes its individual insurance products through La Banque Postale and the Caisses d’Epargne, as well as through its own network: Amétis. In Brazil, its second largest market, the Group’s partner is Caixa Econômica Federal, the country’s second-biggest state-owned bank. ■ In group insurance, CNP Assurances crafts tailor-made personal risk, pension and term creditor insurance products that are aligned with the needs of companies, local authorities, mutual insurers, non-profit organizations, and banks in Europe and Latin America. CNP Assurances has been listed on the Stock Exchange since October 1998 (the first market) and has a stable shareholder structure thanks to the signing of an agreement between its major shareholders (Caisse des Dépôts, La Banque Postale, Groupe BPCE and the French State). www.cnp.fr/en

This document is aimed solely at the media and is for information purposes only. The opinions expressed here are the views of the author and do not constitute investment advice. This is not a recommendation to purchase, sell or subscribe to financial instruments, an offer to sell investment funds or an offer of financial services. This press release is as dated. They do not necessarily represent the views of any company within the AXA Investment Managers Group and may be subject to change without notice. This does not constitute a Financial Promotion as defined by the Financial Conduct Authority. No financial decisions should be made on the basis of the information provided. Past performance is not necessarily representative of future results: performance is not constant over time and the value of investments may fall as well as rise.