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AXA IM - Real Assets For institutional investors only For information only Strictly private and confidential Not for onward distribution AXA IM - Real Assets Investing in Real Assets with a 360° view As at Q4 2020 THIS DOCUMENT IS CLASSIFIED CONFIDENTIAL The recipient will not divulge any such information to any other party. Any reproduction of this information, in whole or in part, is prohibited without prior written consent of the sender. AXA IM - Real Assets: Corporate overview Contents 1 Introducing AXA IM Alts 2 2 Our four value propositions 5 3 Who we are 7 4 Translating our 360°approach into our offering 13 5 Management board 16 CONFIDENTIAL Property of AXA IM and its affiliates – Any reproduction or disclosure of this 1 document, in whole or in part, is prohibited • AXA IM - RESTRICTED Introducing AXA IM Alts A global leader in Alternatives investing, growing fast since its inception €157 billion of assets under management across Real Estate, Infrastructure, Private Debt, Alternative Credit, Private Equity & Hedge Funds 400+ 350+ investment clients professionals 16 30+ offices worldwide years of track record CONFIDENTIAL Property of AXA IM and its affiliates – Any reproduction or disclosure of this 3 AXA IM Alts. Data as at 31 December 2020, unaudited.document, in whole or in part, is prohibited • AXA IM - RESTRICTED AXA IM Alts: Leadership in key areas of expertise €157bn across Real Estate / Private Debt & Alternative Credit / Private Equity & Infra / Hedge Funds #1 Real Estate Manager in Europe1 #5 Real Estate Manager Worldwide2 #4 Infrastructure Debt Manager Worldwide3 #1 CRE Debt Capital Raiser Worldwide4 #1 European Capital Raiser in Private Debt5 #2 Worldwide Capital Raiser in Private Debt5 Source for all AUM data: AXA IM (unaudited) as at 31 December 2020. (1) INREV Fund Manager Survey, June 2020. #1 Real estate manager headquartered in Europe based on total assets under management. (2) Ibid. #5 Real estate manager in the world basedCONFIDENTIAL on total value of non-listed real estate assets under management. (3) Infrastructure Investor, Infrastructure DebtProperty 15, February of AXA 2020. IM and Ranking its affiliates based on – Anycapital reproduction raised between or disclosure 1 January of 2014this and 31 August 2019. 4 (4) PERE RED 50, May 2020. Ranking based on document,capital raised in wholefor the or purpose in part, ofis prohibitedreal estate debt issuance between 1 January 2015 and 31 December 2019. (5) Private Debt Investor (PDI) 50 Global Annual Review, December 2020. Ranking based• onAXA capital IM raised- RESTRICTED over five years. (6) Chorus is included in the Hedge Funds category and is not part of the Structured Finance platform. Our four value propositions Picture for illustrative purposes only. Foundry - Assembly, London Our four value propositions €105bn1 in assets, #1 real estate investment manager in Europe2 An integrated asset manager and #5 worldwide2 enhancing asset value through development and active management 14 offices around the world and more than 300 fund management, asset management, and transaction professionals Thorough understanding of Operating across equity and debt, private and listed, relative value in real asset markets infrastructure and real estate through a 360° approach Strong discipline in avoiding competing sources of capital Determination in aligning interests Co-investment alongside AXA, a truly long-term investor Committed to include ESG criteria into our investment decisions Fully committed to integrate ESG in our investment approach Engaged in transforming our assets to improve their environmental and social impact (1) AXA IM - Real Assets data (unaudited) as atCONFIDENTIAL31 December 2020. (2) INREV Fund Manager Survey – June 2020. #1Property Real Estate of AXA Manager IM and headquarteredits affiliates – Any in Europereproduction based oron disclosuretotal assets of under this management and #5 Real estate manager in the 6 world based on total value of non-listed real estatedocument, assets in under whole management. or in part, is prohibited • AXA IM - RESTRICTED AXA IM - Real Assets Who we are Picture for illustrative purposes only. Tour First, La Défense (Paris region) A leading Real Assets manager for over 30 years Data as at 31 December 20201 €105bn 250+ Assets under management, making us External clients from Europe, Asia-Pacific, The #1 Real estate manager in Europe2 the Middle East and North America The #5 Real estate manager worldwide2 4% 4% 105 6% Pension Funds 91 Non-AXA Insurance 82 9% 76 71 46% Sovereign Wealth Funds 63 55 Banks and Corporates 45 48 40 42 Asset Managers 30% Others 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 600+ Investing in Employees 20+ countries worldwide (1) AXA IM - Real Assets data (unaudited) as atCONFIDENTIAL31 December 2020. Pie chart includes third-party clients only. “Other” includes: non-profits, government institutions and family offices. The references to league tables and awardsProperty are of not AXA an IMindicator and its ofaffiliates future performance– Any reproduction or places or disclosurein league tables of this or awards. 8 (2) INREV Fund Manager Survey – June 2020. #1document, real estate in managerwhole or headquarteredin part, is prohibited in Europe based on total assets under management and #5 Real estate manager in the world based on total value of non-listed real estate assets under management. • AXA IM - RESTRICTED Our distinctive 360° approach to Real Assets investing DIRECTDIRECT LISTEDLISTED INVESTMENTINVESTMENT EQUITIESEQUITIES st NN°°11 realreal estateestate assetasset 1st percentile1 percentile over since10 1 Our 360° view of Real managermanager inin EuropeEurope1 inceptionyears for for European European 1 2 NN°°65 worldwideworldwide1 equitiesequities fund fund2 Assets provides: • A thorough understanding of relative value in real asset markets €74.4bn €3.7bn • Focus on optimising the management of cycles PRIVATE LISTED PRIVATEDEBT LISTEDDEBT • Agility and flexibility in asset DEBT#1 European Fully integratedDEBT allocation VotedCRE platform leading3 , Fullywithin integrated the Real European#1 CRE debt CRE capital debt withinAssets the business Real • A comprehensive understanding of platformraiser worldwide3 4 & Assets business balance sheet capital structure #4 infra debt platform worldwide5 €23.4bn €3.2bn Source for all AUM data: AXA IM - Real Assets data (unaudited) as at 31 December 2020. (1) INREV Fund Manager Survey – June 2020. #1 real estate manager headquartered in Europe based on total assets under management. (2) AXA WF Framlington Europe Real Estate SecuritiesCONFIDENTIAL Morningstar ranking: top percentile since inception (16 Aug 2005). Fund compared to the category “Property – Indirect Europe” and Primary Share class = Offshore Territories.Property of Past AXA performance IM and its affiliates is not a guide– Any toreproduction future performance. or disclosure Data of retrieved this on 31 December 2020. 9 (3) Real Estate Capital Debt Fund 25 ranking, Junedocument, 2020. (4) in 2020whole PERE or in RED part, 50: is Rankingprohibited based on capital raised for the purpose of real estate debt issuance between 1 January 2015 and 31 December 2019. (5) Infrastructure Investor, Infrastructure Debt 15, February• AXA 2020. IM Ranking - RESTRICTED based on capital raised between 1 January 2014 and 31 August 2019. The references to league tables and awards are not an indicator of future performance or places in league tables or awards. Creating value through local deal sourcing and asset management In-depth knowledge of countries, cities and sectors Benelux 17 Inv. Professionals €7.6bn of AUM UK & Ireland 43 Inv. Professionals Nordics €11.6bn of AUM 2 Inv. Professionals 300+ €3.6bn of AUM Investment professionals working together over the full lifecycle of France Central & the assets1 97 Inv. Professionals Eastern Europe €23.0bn of AUM €1.4bn of AUM US 35 Inv. Professionals €12.0bn of AUM Germany 34 Inv. Professionals €11.5bn of AUM Asia-Pacific Spain & Portugal 23 Inv. Professionals 79% 14 Inv. Professionals €6.3bn of AUM €4.8bn of AUM Switzerland of our 2020 total European direct 34 Inv. Professionals equity transactions were off-market Italy €15.2bn of AUM 2 10 Inv. Professionals or required complex structuring €3.7bn of AUM Office Assets under management Paris Zürich London Frankfurt Brussels Madrid Milan Amsterdam Stockholm New York Atlanta Tokyo Luxembourg Sydney Source: AXA IM - Real Assets data (unaudited)CONFIDENTIAL at 31 December 2020. (1) AXA IM - Real Assets as at 31 December 2020.Property of AXA IM and its affiliates – Any reproduction or disclosure of this 10 (2) Note: European Closed deals 2020, includesdocument, deals secured in whole outside or in competitive part, is prohibited processes. Other (including international and securities): €4bn not included in the above map.• AXA IM - RESTRICTED Determined to align interests Taking a Limited long-term view capital competition As the Real Assets investment arm of one Our 30+ years of experience has taught us of the largest global insurance companies, avoiding internal competition, by refusing we aim to invest with a truly long-term competing mandates and limiting view. guidelines overlapping, is a priority when delivering value for our investors. Proven Co-investment opportunities investment strategies We incubate and refine investment AXA is a major investor in each of the solutions for the AXA Group. funds we manage. Investing with us means investing in We offer co-investment opportunities strategies that have passed
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