MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH (Real Estate)

_{COMPLIANCE STATEMENT}

_{MEAGs compliance office is a centralized and independent unit within MEAG. It is managed by a compliance officer who reports directly to MEAGs CEO and to the management board of MEAG. The compliance office has a comprehensive and central management function in order to implement, monitor and adjust all relevant compliance activities. In addition, it has a consulting approach to the whole MEAG organization and handles compliance-relevant information.}

_{The core task is to continuously monitor MEAGs compliance rules and regulations. The Compliance Officer monitors and controls transactions for managed client assets, proprietary transactions of the MEAG companies and also employee transactions.}

_{The control by compliance includes transactions in liquid and illiquid asset classes. The Compliance Officer is also responsible for maintaining contacts with the relevant supervisory authorities on behalf of MEAG and for responding to any inquiries from these authorities.}