GRESB 2014 Survey Webinar, April 15, 2014

Elsbeth Quispel, Head of Sustainability

Webinar Topics ! About GRESB

! 2014 Planning

! About the 2014 Survey

! Reporting Scope and Boundaries

! Scoring and Methodology

! 2014 Data Validation Process

! GRESB Portal – Survey submission management

! GRESB Portal – Survey and question structure

! Innovation question

! Support

! Disclosure of GRESB results

About GRESB

! GRESB complements asset-level certification schemes by focusing on property companies and funds

! The standard is actively used by institutional investors, managing USD 6.1 trillion in assets, with a clear goal to optimize the risk/return profile of their investments

! In 2013, 550 property companies and funds participated in the annual GRESB Survey, managing USD 1.6 trillion in value

! The GRESB database currently covers 49,000 assets in 46 countries

The global standard to assess the sustainability performance of real estate portfolios

2014 Planning GRESB Survey timeline 2014

! April 1: Survey opened !   Guidance documents and helpdesk available !   Response Check upon completion of all sections !   Confirm data accuracy before submission

! May 15: Validation process starts

! July 1: Survey closes (fixed deadline)

! September 4: Survey results and Results events

! October 1: Consultation Period starts

About the 2014 Survey Survey forms basis for GRESB Benchmark

! GRESB collects information regarding sustainability performance of property companies and funds

! Online Survey: 42 questions (+ 14 questions on New Construction & Major renovation activities)

! Topics include: sustainability risk assessments, improvement programs, performance indicators, and stakeholder engagement

! Survey is aligned with GRI (CRESS), DJSI and PRI frameworks ! Survey builds on framework of previous Surveys, but has been updated

and refined based on feedback 2013 Consultation Period

Reporting Scope and Boundaries Includes whole portfolio, independent of lease structure ! Whole portfolio reporting, including both managed and indirectly

managed assets ! Managed versus indirectly managed assets:

!   Definition is based on lease structure, but in both cases assets should be included

!   Separate sections in Performance Indicators tables !   GRESB intents to create peer group(s) comprising of Indirectly

Managed Assets ! Joint ventures: all involved parties with a stake larger or equal to

25%, should report on the whole asset or all applicable assets ! If stake is smaller than 25%, reporting is optional

Scoring and Methodology Transparency in scoring includes: score per question, importance of answers

! The Guidance document states the maximum score awarded per question and the importance of each Aspect

! Points are awarded cumulatively for each individual answer within a question and Guidance document states importance of each answer

! New Construction & Major Renovations (NC & MR): !  1. NC & MR only: score is based on

this Aspect, as well as on selected questions from the other Aspects

!  2. Also standing investments: score is stand-alone and does not count towards total GRESB Score

Scoring and Methodology Transparency in scoring includes: score per question, importance of answers

! The Guidance document states the maximum score awarded per question and the importance of each Aspect

! Points are awarded cumulatively for each individual answer within a question and Guidance document states importance of each answer

! New Construction & Major Renovations (NC & MR): !  1. NC & MR only: score is based on

this Aspect, as well as on selected questions from the other Aspects

!  2. Also standing investments: score is stand-alone and does not count towards total GRESB Score

2014 Data Validation Process Three-layer validation process helps to ensure accurate data ! Extended validation process to be introduced in phases over a two-year

period (2014-2016) ! What data does GRESB validate?

!  Key topics !  Third-party review topics !  Umbrella topics

! GRESB checks selected key data points including: !  Content quality of answers to open text boxes !  Additional information provided (open fields) !  Uploads !  Automated outlier and consistency checks of performance data

! Whose data does GRESB validate? !  All Participants Checks (100%) !  Validation Plus (10-15%) !  Site Visits (1-2%)

GRESB PORTAL Survey submission management

GRESB PORTAL Survey and question structure

GRESB SURVEY Other

GRESB Support Send us an email with technical or content questions ! Helpdesk: survey@gresb.com ! Support via Associate Members

! Response check: high-level check prior to submission. Fee for non-members is 500 euro (exclusive of VAT). Deadline June 15

! GRESB results: September 04, 2014

Disclosure of GRESB results Scorecard o  Highlights the key

results of a company or fund’s sustainability performance

Benchmark Report o  Deeper analysis of a

company or fund’s sustainability performance

Member Portal o  Exclusively for GRESB

Members: ability to construct tailored Portfolio Analysis Reports

Questions & Comments

? e.quispel@gresb.com

gresb.com