SGREMOverviewMarch2016(EN)

SAFEGUARDREALESTATEMANAGEMENTMARCH2016

1

StrictlyPrivateandConfidential

DISCLAIMERIngeneral:Thisdisclaimerappliestothisdocumentandtheverbalorwrittencommentsofanypersonpresentingit.Thisdocument,takentogetherwithanysuchverbalorwrittencomments,isreferredtohereinasthe“Presentation”.

Nooffertopurchaseorsellsecurities:ThisPresentationisbeingprovidedtotheinterestedparty,“you”,atyourspecific request.ThisPresentationdoesnotconstituteanoffertosellorasolicitationofanoffertobuyanysecurityinanyjurisdictiontoanypersontowhomitisunlawfultomakesuchanofferofsale,andmaynot be relieduponinconnectionwiththepurchaseorsaleofanysecurity.

ThisPresentationisbasedonthelawandpracticecurrentlyinforceintheRepublicofSingapore(“Singapore”)andissubjecttochangestherein.NoinvitationtothepublicofSingaporetosubscribefororpurchasealloranyoftheinterestsisintendedorpermittedtobemade.ThisPresentationshouldbereadinconjunctionwiththeformofthedefinitivedocuments(includingthepartnershipagreement,theinvestmentmanagementandsubscriptionagreements)thatwillbeprovidedsubsequenttothedateofthisPresentation(asmaybefurtheramendedfromtimetotime),tothepersontowhomthisPresentationhasbeendelivered,followingreceiptbythegeneralpartnerofthefundofanexpressionofinterestfromsuchperson.

Grossvs.netperformancefigures:Unlessotherwiseindicated,performancefigurescontainedhereinarepresentedonagrossbasis.Actualreturnstoinvestorswillbelowerduetothedeductionofmanagementfees,incentiveallocations,taxes,andstrategyexpenses.

Projections:ProjectionscontainedinthisPresentationarebasedonavarietyofestimatesandassumptionsbySafeGuard,including,amongothers,estimatesoffutureoperatingresults,thevalueofassetsandmarketconditionsatthetimeofdisposition,andthetimingandmannerofdispositionorotherrealizationevents.These estimatesandassumptionsareinherentlyuncertainandaresubjecttonumerousbusiness,industry,market,regulatory,competitiveandfinancialrisksthatareoutsideofSafeGuard’scontrol.Therecanbe no assurancethattheassumptionsmadeinconnectionwiththeprojectionswillproveaccurate,andactualresultsmaydiffermaterially,includingthepossibilitythataninvestormaylosesomeorallofits investedcapital.TheinclusionoftheprojectionshereinshouldnotberegardedasanindicationthatSafeGuard,oranyofitsaffiliatesconsiderstheprojectionstobeareliablepredictionoffutureevents andtheprojectionsshouldnotberelieduponassuch.NeitherSafeGuardnoranyofitsaffiliatesorrepresentativeshavemadeormakeanyPresentationtoanypersonregardingtheprojectionsandnoneofthemintendstoupdateorotherwiserevisetheprojectionstoreflectcircumstancesexistingafterthedatewhenmadeortoreflecttheoccurrenceoffutureevents,ifanyoralloftheassumptionsunderlyingthe projectionsarelatershowntobeinerror.Forpurposesofthisparagraph,term“projections”includes “targetedreturns”.

Pastperformance:Pastperformanceisnotareliableindicatoroffutureresultsandshouldnotberelieduponasthebasisformakinganinvestmentdecision.Theinformationpresentedisonlyavailableforinstitutionalclientandaccreditedinvestoruse.Itispresentedforuseonlyasaone-on-onePresentation.

Noreliance,noupdateanduseofinformation:YoumaynotrelyonthisPresentationasthebasisuponwhichtomakeaninvestmentdecision.TotheextentthatyourelyonthisPresentationinconnectionwithanyinvestmentdecision,youdosoatyourownrisk.ThisPresentationisbeingprovidedinsummaryfashionanddoesnot purporttobecomplete.TheinformationinthePresentationisprovidedtoyouasofthedatesindicatedandSafeGuarddoesnotintendtoupdatetheinformationafteritsdistribution,evenintheeventthat theinformationbecomesmateriallyinaccurate.CertaininformationcontainedinthisPresentationincludescalculationsorfiguresthathavebeenpreparedinternallyandhavenotbeenauditedorverified.Use ofdifferentmethodsforpreparing,calculatingorpresentinginformationmayleadtodifferentresultsandsuchdifferencesmaybematerial.

Knowledgeandexperience :Youacknowledgethatyouareknowledgeableandexperiencedwithrespecttothefinancial,taxandbusinessaspectsofthisPresentationandthatyouwillconductyourownindependentfinancial,business,regulatory,accounting,legalandtaxinvestigationswithrespecttotheaccuracy,completeness andsuitabilityofthisPresentationshouldyouchoosetouseorrelyonthisPresentation,atyourownrisk,foranypurpose.

Riskofloss:Aninvestmentinthestrategywillbehighlyspeculativeandtherecanbenoassurancethatthestrategy’sinvestmentobjectiveswillbeachieved.Investorsmustbepreparedtobeartheriskofatotallossoftheirinvestment.

DistributionofthisPresentation:SafeGuardexpresslyprohibitsanyreproduction,inhard-copy,electroni coranyotherform,oranyredistributiontoanythirdpartyofthisPresentationwithoutSafeGuard’spriorwrittenconsent.ThisPresentationisnotintendedfordistributionto,oruseby,anypersonorentityinanyjurisdictionorcountrywheresuchdistributionoruseiscontrarytolocallaworregulation.

Notax,legaloraccountingadvice:ThisPresentationisnotintendedtoprovide,andshouldnotberelieduponfor(andyoushallnotconstrueitas)accounting,legal,regulatory,financialortaxadviceorinvestmentrecommendations.Prospectiveinvestorsshouldinformthemselvesastothelegalrequirementswithintheirownjurisdictionapplicabletothepurchaseofalloranyoftheinterestsandtoanytaxationorexchangecontrollegislationapplicable tothem.

Confidentiality:ByacceptingreceiptorreadinganyportionofthisPresentation,youagreethatyouwilltreatthePresentationconfidentially.Thisremindershouldnotbereadtolimit,inanyway,thetermsofanyconfidentialityagreementyouoryourorganizationmayhaveinplacewithSafeGuard.

DISCLAIMER

2


INVESTMENT OJIVES

1. TheFirm 4

2. KeyLeadership 5

3. TrackRecord 7

4. NewInvestments 9

5. Partners 10

6. HowtoFindUs 11

CONTEN

T3

PAGE


THE GENERAL PARTNER AND THE MANAGER

SafeGuard Real Estate Investments (SafeGuard) is Singapore incorporated & governed underSingapore law& regulations.• Controlled risk strategy in highly profitable Europeanand Asian real estate.• Focused on value-add strategies (green field and conversion).• SafeGuard Real Estate Fund I: 5-hotel project of affordable hotels in the Philippines.• SafeGuard Platinum Real Estate Fund: Luxury apartments and high-quality hotels in Spain.• New initiatives:

• SafeGuard Global Accommodation Fund: A primarily UK/Ireland focused fund investingin highly profitable student housing, and serviced apartments; First closing in May2016.• SafeGuard Platinum II Fund: A new Spain focused fund taking advantage of the team’sexperience gained in Spain. First closing in June 2016.

• Medium-term pipeline: Philippines II, India, Sri Lanka

• Mandates for clients who want to (co-) invest in specific development properties and intoincome producing real estate assets in Germany, the UK, Ireland and Spain.

4 THEFIRM

Singapore-basedManagerandGP


CHRISWERNER istheChief ExecutiveOfficer(“CEO”)oftheManagerandtheGeneralPartner.Hehasmorethan30yearsofexperienceintheinvestment andfinancialindustry including seniorexecutiveoperatingmanagementrolesatcountry,regionalandgloballevels acrossEuropeandAsiaininvestments, privateequity, structuredfinancing,banking, andmergers&acquisitions atfinancialinstitutions includingDeutscheBank,Citigroup, andStandardChartered.Mr.Wernerspentthelast21yearsinAsiaandwasStandardCharteredBank’sGlobalHeadofDistribution anditsRegionalHeadforNorthEastAsia,ConsumerBankingwithresponsibility forthebank’s retail,consumer finance,Small&MediumEnterprises, andPrivateBankingbusinesses intheregion.HewasthekeyleaderofM&Ateamsthatconcludedmulti-billion dollaracquisitions inKorea,Pakistan, andTaiwan.Mr.Wernermanagedtheturnaroundandsubsequent firstIPOofaKoreanconsumer financecompanyforaninternationalprivateequityfirm.Hehasbeenholdingcorporateexecutiveandnon-executive boardpositions inTaiwan,Malaysia,Korea,Philippines,Singapore, andHongKong.Mr.Wernerisaneconomics graduatefromJohannesGutenbergUniversity, Mainz,Germany,andholds aMasterofScienceinManagementdegreefromLondonBusiness School.HeisamemberoftheSingaporeInstituteofDirectors.

JOHNPENGistheChina PartneroftheManager,basedinShanghai.HehasdeepknowledgeofGreaterChinawithanexcellentnetworkofrelationships inthemarket.Hehasmorethan20yearsofexperienceinseniorroles atleadingfinancialinstitutions inChina, Taiwan,theUnitedStatesandSingaporeincluding ShenzhenDevelopmentBank,ChinaUnion Pay,CapitalOne,WellsFargoandStandardCharteredBank.Hisdeepknow-how includes theareasofmergers&acquisitions, realestate,duediligenceinvestigations andrisk&marketinganalytics.Mr.Pengholds aMastersdegreeinAccountingfromVirginiaPolytechnicInstituteandStateUniversity.

5 KEYLEADERSHIP

DeepAsia&EuropeExperience


THE GENERAL PARTNER AND THE MANAGERVARUNSABHLOKistheChief InvestmentOfficer(“CIO”)oftheManager.Hehasmorethan35yearsofoperationalexperienceinconsumer&SMEfinancial servicesincluding in-depth knowledgeofmortgage/propertyfinancing, inAsiasince1987.Mr.Sabhlokwaspreviously theExecutiveVicePresident atBankDanamoninIndonesiainchargeofriskmanagementandCitibank’s Chief RiskOfficerinThailand.HewasalsoCitibank’s Chief FinancialOfficerinSingaporeandtheRegionalAuditDirectorforSouthEastAsia&India.Hehasextensiveexperienceinduediligenceinvestigations andsourcingfor,analyzing,acquiring, andmanaginginvestments incompanies andloanportfolios. Mr.Sabhlok hastransformed companies’ riskmanagement,andhasextensivelyworkedonfinancialrestructuringcoveringmortgages/propertyloansandmostotherbanking areas.Hehasbroadexperienceinthemanagementofinvestor andvendor relationships, andservesontheboardofRoxacoVanguardHotelCorporation, ajointventurecompanyunder theManager’sfirstfund.Mr.Sabhlok isagraduateoftheLondon School ofEconomics andqualified asaCharteredAccountantfromEngland(ICAEW).

KYLANPANGistheChiefOperatingOfficer(“COO”)oftheManager.Hehasmorethan12yearsofexperienceintherealestatebusiness including fundoperations, projectevaluation andduediligence, cashflowmodeling andscenarioanalysis, newmarketdevelopment andinvestorrelationsmanagement.Mr.PangwaspartoftheRealEstateFunds teaminAscendas thatsuccessfully listedaS$1bnhospitality REITandpriortothat,hewastheInvestmentManagerinParkwayLifeREITmanaginganumberofcrossborderrealestateduediligenceprojects.Heisfamiliarwiththecomplexities ofasset-holding structuresandtaxationinvariousjurisdictions.Mr.Pangholds aBachelorofScience(Honors) inAppliedAccountingfromOxfordBrookesUniversity, UnitedKingdom.HeisalsoanaffiliateofTheAssociationofCharteredCertifiedAccountants(ACCA).

6

Risk&RealEstateKnow-HowKEYLEADERSHIP


7 TRACKRECO

RDSafeguardFundI- Philippines

FiveGoHotelsinManila;ProjectedIRR20%+


8 TRACKRECO

RDSafeguardPlatinumFund- Spain

HotelsinCentralMadridLuxuryResidencesinMadridandBarcelona

ProjectedIRR25%


9 NEW

INVESTM

ENTS

Opportunities

BudgetHotelsinAsia

GlobalAccommodationFund(primaryfocusonUK/Ireland)

SafeGuardPlatinumFundII(Spain)

InvestmentfromEUR1,000,000FundSize:EUR250millionTerm:5yearsReturns- IRR:20%+p.a.

InvestmentfromGBP1,000,000FundSize:GBP500millionTerm:6yearsReturns- IRR:20-25%p.a.

InvestmentfromUS$5-10m

IRR:15-20%+p.a.

VariousGermanOfficePropertiesInvestmentfromEUR20,000,000FundorSPVCashReturn:6-7%;IRR:9-11%


10 PARTNERS

HighestQualityRelationships

JointVentures&Partners

HotelOperators/Brands

Banks FundAdministrators LegalAdvice

Auditors&TaxAdvice


THE GENERAL PARTNER AND THE MANAGERSafeGuardRealEstateManagement1FifthAvenue,#03-03AGuthrieHouseSingapore268802

Pleasecallormailus:ChrisWerner,CEO

[email protected]’Phone:+6581128945

KylanPang,[email protected]’

Phone:+6593638039

VarunSabhlok,[email protected]

Phone:+6596836747

11 HOW

TOFIN

DUS

ContactDetails


DISCLAIMERIngeneral:Thisdisclaimerappliestothisdocumentandtheverbalorwrittencommentsofanypersonpresentingit.Thisdocument,takentogetherwithanysuchverbalorwrittencomments,isreferredtohereinasthe“Presentation”.

Nooffertopurchaseorsellsecurities:ThisPresentationisbeingprovidedtotheinterestedparty,“you”,atyourspecific request.ThisPresentationdoesnotconstituteanoffertosellorasolicitationofanoffertobuyanysecurityinanyjurisdictiontoanypersontowhomitisunlawfultomakesuchanofferofsale,andmaynot be relieduponinconnectionwiththepurchaseorsaleofanysecurity.

ThisPresentationisbasedonthelawandpracticecurrentlyinforceintheRepublicofSingapore(“Singapore”)andissubjecttochangestherein.NoinvitationtothepublicofSingaporetosubscribefororpurchasealloranyoftheinterestsisintendedorpermittedtobemade.ThisPresentationshouldbereadinconjunctionwiththeformofthedefinitivedocuments(includingthepartnershipagreement,theinvestmentmanagementandsubscriptionagreements)thatwillbeprovidedsubsequenttothedateofthisPresentation(asmaybefurtheramendedfromtimetotime),tothepersontowhomthisPresentationhasbeendelivered,followingreceiptbythegeneralpartnerofthefundofanexpressionofinterestfromsuchperson.

Grossvs.netperformancefigures:Unlessotherwiseindicated,performancefigurescontainedhereinarepresentedonagrossbasis.Actualreturnstoinvestorswillbelowerduetothedeductionofmanagementfees,incentiveallocations,taxes,andstrategyexpenses.

Projections:ProjectionscontainedinthisPresentationarebasedonavarietyofestimatesandassumptionsbySafeGuard,including,amongothers,estimatesoffutureoperatingresults,thevalueofassetsandmarketconditionsatthetimeofdisposition,andthetimingandmannerofdispositionorotherrealizationevents.These estimatesandassumptionsareinherentlyuncertainandaresubjecttonumerousbusiness,industry,market,regulatory,competitiveandfinancialrisksthatareoutsideofSafeGuard’scontrol.Therecanbe no assurancethattheassumptionsmadeinconnectionwiththeprojectionswillproveaccurate,andactualresultsmaydiffermaterially,includingthepossibilitythataninvestormaylosesomeorallofits investedcapital.TheinclusionoftheprojectionshereinshouldnotberegardedasanindicationthatSafeGuard,oranyofitsaffiliatesconsiderstheprojectionstobeareliablepredictionoffutureevents andtheprojectionsshouldnotberelieduponassuch.NeitherSafeGuardnoranyofitsaffiliatesorrepresentativeshavemadeormakeanyPresentationtoanypersonregardingtheprojectionsandnoneofthemintendstoupdateorotherwiserevisetheprojectionstoreflectcircumstancesexistingafterthedatewhenmadeortoreflecttheoccurrenceoffutureevents,ifanyoralloftheassumptionsunderlyingthe projectionsarelatershowntobeinerror.Forpurposesofthisparagraph,term“projections”includes “targetedreturns”.

Pastperformance:Pastperformanceisnotareliableindicatoroffutureresultsandshouldnotberelieduponasthebasisformakinganinvestmentdecision.Theinformationpresentedisonlyavailableforinstitutionalclientandaccreditedinvestoruse.Itispresentedforuseonlyasaone-on-onePresentation.

Noreliance,noupdateanduseofinformation:YoumaynotrelyonthisPresentationasthebasisuponwhichtomakeaninvestmentdecision.TotheextentthatyourelyonthisPresentationinconnectionwithanyinvestmentdecision,youdosoatyourownrisk.ThisPresentationisbeingprovidedinsummaryfashionanddoesnot purporttobecomplete.TheinformationinthePresentationisprovidedtoyouasofthedatesindicatedandSafeGuarddoesnotintendtoupdatetheinformationafteritsdistribution,evenintheeventthat theinformationbecomesmateriallyinaccurate.CertaininformationcontainedinthisPresentationincludescalculationsorfiguresthathavebeenpreparedinternallyandhavenotbeenauditedorverified.Use ofdifferentmethodsforpreparing,calculatingorpresentinginformationmayleadtodifferentresultsandsuchdifferencesmaybematerial.

Knowledgeandexperience :Youacknowledgethatyouareknowledgeableandexperiencedwithrespecttothefinancial,taxandbusinessaspectsofthisPresentationandthatyouwillconductyourownindependentfinancial,business,regulatory,accounting,legalandtaxinvestigationswithrespecttotheaccuracy,completeness andsuitabilityofthisPresentationshouldyouchoosetouseorrelyonthisPresentation,atyourownrisk,foranypurpose.

Riskofloss:Aninvestmentinthestrategywillbehighlyspeculativeandtherecanbenoassurancethatthestrategy’sinvestmentobjectiveswillbeachieved.Investorsmustbepreparedtobeartheriskofatotallossoftheirinvestment.

DistributionofthisPresentation:SafeGuardexpresslyprohibitsanyreproduction,inhard-copy,electroni coranyotherform,oranyredistributiontoanythirdpartyofthisPresentationwithoutSafeGuard’spriorwrittenconsent.ThisPresentationisnotintendedfordistributionto,oruseby,anypersonorentityinanyjurisdictionorcountrywheresuchdistributionoruseiscontrarytolocallaworregulation.

Notax,legaloraccountingadvice:ThisPresentationisnotintendedtoprovide,andshouldnotberelieduponfor(andyoushallnotconstrueitas)accounting,legal,regulatory,financialortaxadviceorinvestmentrecommendations.Prospectiveinvestorsshouldinformthemselvesastothelegalrequirementswithintheirownjurisdictionapplicabletothepurchaseofalloranyoftheinterestsandtoanytaxationorexchangecontrollegislationapplicable tothem.

Confidentiality:ByacceptingreceiptorreadinganyportionofthisPresentation,youagreethatyouwilltreatthePresentationconfidentially.Thisremindershouldnotbereadtolimit,inanyway,thetermsofanyconfidentialityagreementyouoryourorganizationmayhaveinplacewithSafeGuard.

DISCLAIMER

12

Documents

SGREMOverviewMarch2016(EN)