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Fund asset management Tishman Speyer Investment Management GmbH (hereinafter: the Company) acquires, operates and holds properties in funds established for this purpose. The following strategies have been defined for these with regard to investment decisions. Strategies in connection with sustainability risks In general, sustainability risk is understood as an environmental, social or governance (ESG) outcome or condition, the occurrence of which may have an actual or potential material adverse effect on the value of the investment. As a result, sustainability risks either act as a risk in their own right or influence or contribute to other risks such as market price and liquidity risks, counterparty risks or operational risks.

1. Investment decisions The company's investment decision-making process is based on fundamental research and detailed due diligence. In addition to financial indicators, the focus is also on the integration of ESG principles into the decision-making process. The company understands the integration of ESG as the structured consideration of sustainability factors as well as their risks in decisive steps of the investment process. These include, among others, environmental, social and corporate governance concerns, respect for human rights, anti-corruption and anti-bribery, and employee rights. In the day-to-day business of the company, the integration of sustainability risks in the fundamental due diligence process is carried out in principle via the internal ESG policy. This takes into account, among other things, environmental protection measures and energy efficiency of the target properties, as well as companies and sectors that are relevant for corresponding sustainability aspects and risks due to preceding events or trends. The consideration and integration of sustainability factors in the investment process takes place over the entire decision-making horizon of the capital management company and is reflected in the acquisition objects of the funds.
2. Embedding sustainability risks in investment decisions In the course of the investment process, the company's real estate experts analyse potential financially disadvantageous sustainability risks. In order to reduce sustainability risks in general, the company's employees actively seek constructive dialogue with issuers. In addition, certain properties are excluded from the investment process due to their environmentally unfavourable energy efficiency. Furthermore, the company focuses on creating a sense of community among tenants, as well as neighbourhood users, through socially-responsive approaches.
3. Effects on the return Failure to consider sustainability factors can have a long-term negative impact on property values. Providers of properties with poor sustainability standards are generally more susceptible to reputational, regulatory, technology and earnings risks. These sustainability-related risks can thus have a negative impact on the operating business, as well as on the company's value and the sustainability of the company and/or its investments. The occurrence of sustainability risks that have not been taken into account can have a negative impact on the return of the property as well as the corresponding fund.

No consideration of adverse effects of investment decisions on sustainability factors Currently, the company does not take into account adverse impacts of investment decisions on sustainability factors. This is due to the current lack of market data for identifying and weighting corresponding negative sustainability impacts. The Company's objective is to consider the main adverse impacts of investment decisions on sustainability factors from 1 January 2025. Furthermore, it is assumed that impact parameters for the identification and assessment of adverse sustainability risks will have been established by this time. Remuneration policy The Company's remuneration policy is consistent with how the Company integrates environmental, social or governance (ESG) sustainability risks into its investment decisions. The Company takes into account the internal ESG principles described above as well as sustainability risks in all investment decisions. All of the company's turnover and the remuneration of its employees are therefore based on investments that take sustainability risks into account. In this way, the internal ESG principles and thus the reduction of sustainability risks are linked to the remuneration of the employees.