2016 GRESB Snapshot - The Netherlands The Paris Climate Conference established the first-ever global, legally and funds providing information about ESG performance – a growth of Carbon Management binding agreement to avoid the worst impacts of climate change by 11% compared to 2015. The results show that multi-year participants GRESB indicators can be examined individually or as functional groups to understand management and performance in key areas, such as carbon, water, waste, limiting global warming to below 2°C. demonstrate steady year-over-year improvements in overall ESG scores, and health. The charts below illustrate average responses to individual carbon management indicators and the cumulative achievement of the set of carbon and the average Dutch GRESB Score now stands at 60. Diving deeper, the management strategies. The real estate sector has an important role to play in the success of this new data show that overall performance is underpinned by increasing 2016 Improvements 100% agreement. Residential and commercial buildings are a major source of engagement from senior leaders, more formal policy commitments, Leaders ESG policy includes carbon emissions (>= 7 indicators) greenhouse gas emissions, and the sector provides some of the most new environmental management systems and increasingly sophisticated Europe cost-effective opportunities for emissions mitigation. Accelerating the information systems. For example, this year’s benchmark includes Carbon emissions target 80% integration of ESG and climate risks into investment decisions, and asset-level operational performance data for more than 22,000 individual Due diligence process includes The Netherlands scaling up energy and climate-related investments, including retrofitting buildings worldwide, often flowing directly to GRESB from third-party carbon emissions of buildings, should therefore be an integral part of European energy and tools. 60% Risk assessments include carbon emissions climate policies. Overall, the new data show Dutch GRESB participants steadily improving Data management system in place Institutional investors have begun to recognize the connections between their ESG performance and creating tangible benefits for people and 40% % of entities buildings and sustainability as sources of both value and risk. As a result, the environment – reducing greenhouse gas emissions, saving energy, Reporting carbon emissions data Global Average investors are increasingly requesting high quality information about the conserving water, and providing healthier indoor environments. Leading Offsetting carbon emissions environmental, social and governance (ESG) performance of European European property companies and funds are rewarded with more efficient, 20% real estate investments. GRESB strives to meet this growing need with more desirable properties. Investors in these companies receive higher Reporting carbon intensity data systematic assessment, objective scoring, and peer benchmarking of returns and lower risk. Most importantly, improving ESG performance External review of carbon emissions data 0% sustainability performance. This year’s snapshot of the Dutch GRESB data benefits society by contributing to national and global goals for emissions 0 1 2 3 4 5 6 7 8 9 illustrates continued growth in GRESB participation with 39 companies reduction and environmental protection. 0% % of Dutch entities 100% Number of carbon management practices reported GRESB Model Renewable Energy (generated on-site) Health & Well-being - Europe The GRESB Assessment provides data on year-over-year growth in on-site New data for Europen property companies and funds show significant renewable energy. The dark shading indicates renewable energy generated variation in health and well-being practices. Many companies are working by companies and funds based in the Netherlands. The light shading to promote the health of their employees. A smaller fraction of participants 60 indicates renewable energy generated elsewhere in the world. complement these internal efforts with strategies to actively promote the 100 health of customers through their products and services. 0.1% of total 0.1% of total 2015 energy consumption energy consumption 2016 Europe Score Dutch Score in the Netherlands in the Netherlands Leading in both operations 2013 Leading in operations and products/services 2014 2016 Dutch Score 100 2015 The average GRESB Score 2012 of Dutch companies and 2014 funds improved from 59 in 2011 2015 to 60 in 2016. Companies and funds in Europe outperform those 8.8 GWh 9.6 GWh in the Netherlands for the first year. 2014 2015 H&W Europe average Stakeholder Engagement 50 GRESB includes 11 indicators addressing the engagement of property H&W Entities companies and funds with employees, tenants, supply chain, and community. Europe Each circle represents a point available for these 11 indicators. GRESB Aspects Response Rate Development - Europe E Management T Promotion of health employees Europe Policy & S 88 Disclosure Stakeholder C 75 0 Leading in products/services Engagement E 2016 Improvement 76 0 50 67 100 50 390 T 380 United Promotion of health through products and services 69 Kingdom S 25 328 89 292 C 64 79 Risks & 251 67 E 45 Opportunities 194 T GRESB Industry Partners 53 103 France 43 S Building Monitoring 109 141 Certifications C 2016 Decline & EMS "GRESB gives great insight in the contribution of the 109 E real estate industry to a more sustainable society" T Dick Gort, chairman Committee Sustainability IVBN 56 46 43 37 55 Netherlands Performance 26 S and CEO a.s.r. reim Indicators 2010 2011 2012 2013 2014 2015 2016 C Average Score/Type The Netherlands Europe New participants Existing participants Churn E Employees T Tenants S Supply chains C Communities Sector Leaders - Europe 2016 GRESB Participants - Europe Property type Entity name Listed Klépierre Wihlborgs Fastigheter AB Fidelity International Royal London AEW UK REIT plc Kungsleden AB Workspace Folksam SATO Corporation Retail - Listed Altarea Cogedim Alstria office REIT-AG Land Securities Group PLC ♥ FORE Partnership Savills Investment Management Retail - Private Steen & Strom AS Altarea Cogedim ♥ LFP IMMO SR Private Forum Partners Schroder Real Estate Investment Management Limited ANF Immobilier LondonMetric Property Plc Aberdeen Asset Management Generali Real Estate Office - Listed Cegereal Sirius Capital Partners Atrium European Real Estate LPT - Office AEW Europe Genesta Property Nordic ♥ Sonae Sierra ♥ Office - Private Central Saint Giles Limited Partnership - Legal and General Property Befimmo SA ♥ McKay Securities PLC Akademiska Hus AB Goodman Group Standard Life Investments ♥ Beni Stabili SpA Siiq Mercialys AltaFund Grainger Asset Management Ltd Industrial Prologis European Properties Fund II - Prologis Steen & Strom AS Big Yellow Plc Mobimo Holding AG Altera Vastgoed NV Location Grosvenor Fund Management ♥ Storebrand Eiendom AS ♥ Residential - Listed UBS (CH) Property Fund Direct Residential British Land Company Plc ♥ NEPI Amundi Asset Management ♥ Heitman Storebrand Fastigheter AB ♥ Residential - Private Capital & Counties Properties NewRiver REIT PLC Amvest ♥ Location CSA Real Estate Switzerland Residential - Credit Suisse Hemsö Fastighets AB Syntrus Achmea Real Estate & PLC PSP Swiss Property Ardstone Capital Ltd Finance ♥ Location Healthcare Achmea Dutch Health Care Property Fund - Syntrus Achmea Real Estate & Finance Location Castellum AB Redefine International P.L.C. Hermes Real Estate Areim The Crown Estate Other Leisure Fund Property Partnership - Legal and General Property Cegereal ♥ Schroder Real Estate Investment ASR Real Estate Investment IEF Capital Management B.V. Location Trust Limited Threadneedle Portfolio Services Citycon Oyj ♥ Management Location Internos Global Investors Location Limited Diversified - Listed Credit Suisse Real Estate Fund LivingPlus SEGRO plc CLS Holdings ATP Ejendomme A/S Invesco Real Estate TIAA Henderson Real Estate SFL Diversified - Private Linked Life Fund - Legal and General Property Cofinimmo Avison Young IPUT plc Tishman Speyer Shaftesbury Plc Diversified - Retail/Office (Listed) British Land Company Plc conwert Immobilien Invest SE Aviva Investors Kames Capital Plc Tristan Capital Partners Société de la Tour Eiffel Credit Suisse Real Estate Fund AXA Investment Management LaSalle Investment Management UBS Global Asset Management Diversified - Retail/Office (Private) Managed Fund - Legal and General Property Green Property ♥ Sponda Plc Bank J. Safra Sarasin Legal and General Property Universities Superannuation Credit Suisse Real Estate Fund Standard Life Investments Diversified - Industrial/Office Castellum AB BlackRock Lendlease Scheme Hospitality ♥ Property Income Trust ♥ BNP Paribas REIM France LGIM Real Assets Diversified - Residential/Office Credit Suisse Real Estate Fund SIAT - Credit Suisse Credit Suisse Real Estate Fund Swiss Prime Site Group AG VALAD Europe Location Bouwfonds Investment Lothbury Investment Value Retail PLC Interswiss Technopolis Plc ♥ Management Location Management Limited Global Sector Leader LocationDutch participant Credit Suisse Real Estate Fund Vasakronan ♥ The UNITE Group Plc ♥ Bouwinvest REIM Location M&G Real Estate LivingPlus ♥ Triodos Vastgoedfonds Location Mayfair Capital Investment Vesteda Investment Management Credit Suisse Real Estate Fund British Land Company plc B.V. Location Performance Indicators - The Netherlands UBS (CH) Property Fund - Direct Management PropertyPlus Brockton Capital LLP Via Outlets Residential