SORGENTE GROUP S.P.A

SORGENTE GROUP S.p.A.

SORGENTE SELLS QUEENSBERRY HOUSE TO NORGES BANK INVESTMENT MANAGEMENT FOR £ 190.6 MILLION. The property has been sold by Fondo David, managed by Sorgente SGR

London, January 30th, 2015 – Sorgente SGR, the Italian management company of Sorgente Group specializing in real estate funds, has finalized the sale of Queensberry House to Norges Bank Investment Management for £190.6 million. The prestigious building, located in the Mayfair neighborhood of London, known for high fashion boutiques, luxury hotels and shopping arcades, was part of the portfolio of Fondo Donatello Comparto David (now Fondo David).

The transaction, which took place at the end of a formal bid procedure, with the support of the advisor Knight Frank, initially involved more than 50 interested potential investors, attracted by the prospect of investing in one of the most exclusive neighborhoods of London. Ultimately, seven formal offers were examined resulting in the selection of the winning proposal from Norges Bank Investment Management, which in 2014 was also involved in the acquisition of several other buildings in Mayfair.

The office portion of Queensberry House is accessed from Old Burlington Street, whereas the retail side overlooks Savile Row, world famous for the presence of exceptional traditional British gentlemen’s tailors and as such the target of major international investors. The freehold property object of the sale is currently leased to quality tenants and covers approximately 75,000 square feet of commercial space divided into office and retail distributed over 5 floors, including an additional 320 parking spaces over 7 floors of underground parking.

"The management of real estate funds must always seize the best market opportunities to pursue future investments, in the UK as well as other strategic areas for the Group" – affirms the CEO of Sorgente Group, Valter Mainetti. Having received the interest of many investors in Queensberry House shows that our careful and accurate process of buildings selection - focused on iconic and trophy assets – increases the value of the managed assets over time.

Fondo David, managed by Sorgente Sgr, comprising total assets of €495 million as of June 30th 2014, is entirely made up of highly prestigious assets including the Galleria Colonna in Rome (renamed Galleria Alberto Sordi), the Rinascente building in Rome, the building in Piazza Cordusio in Milan and the Poste building in Carrara.

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Founded in 1999, Sorgente Sgr, the Italian management company of Sorgente Group, is a leading nationwide operator in the field of real estate funds with 27 funds launched since 2001, representing assets under management of €2.26 billion as of June 30th, 2014 and an excellent track record of performance of its investment products. (www.sorgentesgr.it)

Sorgente Group operates with three holding companies, Sorgente Group Spa (Italy), Sorgente Group of America Corp. (USA), Sorgente Group International Holding Ltd (UK), in the field of real estate investments and finance. The structure includes over 60 real estate, financial and real estate services companies (located in Italy, France, Switzerland, Great Britain, Luxembourg, the US and Brazil). At the Group level, the real estate assets owned and managed by the funds and its subsidiaries amounts to over €5 billion (approximately $6 billion) as of December 31st, 2014. The portfolio consists

Registered office: Via del Tritone, 132 – 00187 ROME - Ph. (+39) 06.5833.2919 Fax.(+39) 06.5833.3241 Web site: www.sorgentegroup.com – e-mail address: [email protected] REA Code: RM 1214318 – Tax Number and VAT: 10166741008 /2014 Registered Capital: Euro 7.500.000 – Shareowners’ Equity: Euro 14.478.000

30/06 Total authorized equity: Euro 3.056.571.541

primarily of trophy and iconic asset throughout the world, including the Flatiron Building in New York, the Fine Arts Building in Los Angeles, the Clock Tower in Santa Monica and the Galleria Colonna in Rome. (www.sorgentegroup.com)

Norges Bank Investment Management is the asset management division of Norges Bank, the Norwegian central bank. As manager of the Government Pension Fund Global, its mission is to safeguard and build financial wealth for future generations in Norway. Norges Bank Investment Management aims for the highest possible long-term return within the investment mandate set by the Ministry of Finance. The fund is invested globally in equity, fixed income and real estate markets and had assets worth 5,534 billion kroner, or about $860 billion, as of September 30th 2014.

/2014 Registered Capital: Euro 7.500.000 – Shareowners’ Equity: Euro 14.478.000

30/06 Total authorized equity: Euro 3.056.571.541