The objective consists in transforming and creating value on real estate properties, located in Luxembourg & in Europe, excluding France.

In order to reach the target objectives, the asset managers benefit from a privileged access to a complete and diversified sourcing of properties, showing a true potential for value creation in Luxembourg (bare land or old building suited for transformation/ renovation). Their skills and expertise allow them to fully analyze the opportunity for each asset, its potential for future repositioning on the market, its development prospects with regards to further improving its efficiency, while increasing its final value.

Property value creation is achieved through a combination of six axes:

• Sourcing of undervalued properties
• Subdividing the real estate asset
• Renovating and transforming
• Improving property management
• Changing the purpose of a building
• Constructing a new building

Specific Tax Profile : This fund falls outside of the scope of the IFI Law (French “Impôt sur la fortune immobilière” – Real estate capital tax) and is eligible for the reinvestment system for surplus value from transfers of shares, following French tax Law Art 150 OB-ter CGI.

THE SOLUTION PRESENTS AN EXPOSURE TO THE HAZARDS OF THE REAL ESTATE MARKETS: RISK OF CAPITAL LOSS AND LIQUIDITY RISK.

This description is intended solely for information purposes for professional investors within the meaning of Directive 2014/65/EU "MIFID 2" and in accordance with the application made by the French and Luxembourg jurisdictions (excluding any US citizen).
Equal treatment of holders of Shares:

Fair Treatment of Investors

The General Partner has taken into account the need to treat the holders of the Shares equally both for the exercise of voting rights, access to information as provided for in this issue document and for the economic rights linked to the status of holder of Shares. However, it cannot be excluded that the Managing Partner may grant preferential treatment to certain holders of the Shares by waiving certain provisions of the FIA's articles of association or of this issuance document by means of an ancillary letter or other agreements, thereby waiving terms that would be applicable to them, without having obtained the consent of any other holder of the Shares. In such a situation, information concerning any

preferential treatment granted to certain holders of the Shares will have to be notified to the other holders of the Shares.

The solution is directly exposed to the real estate markets fluctuations: risk of capital losses and liquidity risk.

This description is only provided for information purposes, to professional investors exclusively, as per the meaning of the 2014/65/EU Directive “MIFID 2” and in compliance with the application in the French and Luxembourg regulations (and excludes all American citizens).