Hansteen

HansteenTilburg, NetherlandsFull Year Results to 31 December 2016 Contents2 Introduction Hansteen 2016 results Sale announcement Sale of German and Dutch Portfolio 2016 Annual Results 2016 Property Performance OutlookIntroductionHansteen -Pan European Real Estate Investment Trust (REIT) 3 Pan European REIT Five countries Regional teams in 15 offices High yielding industrial property Yield of Reversionary yield Property portfolio of billion Rent roll of million pa from million sqft 5,262 tenants High and realised returns Over 10 year successful track record2016 Full Year ResultsSummary4 Normalised Income Profit ( NIP ) up to million (2015: million) Normalised Total Profit ( NTP ) up to million (2015: million) Full year dividend up 12% to EPRA NAV per share increased by to (31 December 2015: ) Total return to shareholders of or (EPRA NAV plus dividends paid) Valuation increases in all regions AIF ownership increased to 100% through acquisition of the remaining units Refinanced UK and Netherlands debtRadwayGreen, UKSALE OF GERMANAND DUTCHPORTFOLIO5 North Tyne Industrial Estate, Tyne and Wear6 Amersfoort, NetherlandsSale of German and Dutch PortfolioBackground ConsiderationsThe sale of our entire property portfolio in Germany and Netherlands for Currency Risk Euro rate currently high relative to Sterling Low Vacancy level German vacancy 2010: 20% 2016: Netherlands vacancy 2010: 27% 20

2016 Full Year Results Summary 4 Normalised Income Profit (“NIP”) up 29.4% to £61.1 million (2015: £47.2 million) Normalised Total Profit (“NTP”) up 4.4% to £66.0 million (2015: £63.2 million)

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