Macquarie Asset Management (Real Estate)

*Pension assets includes SWF assets, other capital owners includes investors in listed funds

_{COMPLIANCE STATEMENT} 

_{The information herein is provided on a non-reliance basis. It does not constitute legal, tax or investment advice and is not an offer (or solicitation of an offer) to sell or subscribe for interests.}

_{Macquarie Group comprises Macquarie Group Limited and its worldwide subsidiaries. No member of Macquarie Group accepts any liability whatsoever for a direct, indirect, consequential, or other loss arising from any use of the information herein and/or further communication in relation to such information.}

_{No representation, warranty or undertaking is given by any member of Macquarie Group or any other person in respect of the fairness, accuracy or completeness of statements, information or opinions expressed in this document. Any views expressed were held at the time of preparation and are subject to change without notice. Any forecast, projection or target is indicative and not guaranteed in any way.} 

_{Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”) which is licensed in various jurisdictions, none of the entities noted in this document is an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia) and the obligations of these entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these entities. In addition, (a) each investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group company guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.}