ERAFP wishes to proceed with the selection of service providers for the award of real estate asset management mandates.

This contract will comprise two lots corresponding respectively to two types of mandate:

- lot 1: Real estate France Isr

- lot 2: Real Estate Europe Isr

the purpose of the Mandate will be the management of a portfolio, among two existing portfolios of real estate assets (“core” profile), namely: (a) the “Immobilier France i” portfolio or (b) the “Immobilier France ii” portfolio (each constituting a “France Portfolio”).

Each France Portfolio consists of properties and holdings located in France, held directly or indirectly through one or more dedicated vehicles.

As part of the management of the French Portfolio, each Holder will have as missions, with regard to a given portfolio of real estate assets:

- The management of the asset portfolio (fund management);

- The management of real estate assets (asset management);

- Management of holding structures (corporate management), with the possibility, if necessary, of setting up other dedicated vehicles (especially in the case of the acquisition of new real estate assets);

- Where applicable, the acquisition (s) and sale (s) of real estate asset (s) (in particular as a result of arbitration (s) if the Holder considers that the asset has reached its maximum valuation potential, or by contribution of ERAFP); and

- where appropriate, the structuring of external financing (s) (financing the acquisition or construction of a building or related works or, where appropriate, in the context of the refinancing of a building or a portfolio of buildings).

the Holder will seek to ensure a regular and optimal return of income for ERAFP from the dedicated vehicle (s). The level of distribution will be measured by the rate of distribution.

The Holder will thus ensure to implement a strategy based mainly on asset management actions, but also on asset acquisitions or arbitrage, and actions for structuring the financial leverage effect, aiming at an objective of current profitability of the Portfolio, evaluated by the Annual Current Return of the Net Portfolio average investor, whose level would be higher than 3% per year calculated over a period of 10 years at the end of the date of takeover of the France Portfolio.

In terms of the fight against climate change, the Holder will more precisely seek to place the France Portfolio on a greenhouse gas emission trajectory compatible with a global warming limited to 1.5°C, while optimizing, if necessary, the work plans to be carried out in order to remain in line with the TRI objectives initials defined for the assets in the portfolio.

the purpose of the Mandate will be the management of a portfolio, among two existing portfolios of real estate assets (“core” profile), namely: (a) the “Real Estate Europe i” portfolio or (b) the “Real Estate Europe ii” portfolio (each constituting a “Europe Portfolio”).

Each Europe Portfolio consists of properties and holdings located in Europe, held directly or indirectly through one or more dedicated vehicles.

As part of the management of the Europe Portfolio, each Holder will have as missions, with regard to a given portfolio of real estate assets:

- The management of the asset portfolio (fund management);

- The management of real estate assets (asset management);

- Management of holding structures (corporate management), with the possibility, if necessary, of setting up other dedicated vehicles (especially in the case of the acquisition of new real estate assets);

- Where applicable, an acquisition (s) and sale (s) of real estate asset (s) (in particular as a result of arbitration (s) if the Holder considers that the asset has reached its maximum valuation potential or through the contribution of ERAFP); and

- where appropriate, the structuring of external financing (s) (in particular for the purpose of financing the acquisition of a real estate asset, the construction of a building or related works or, where appropriate, in the context of the refinancing of a building or a portfolio of buildings).

the Holder will seek to ensure a regular and optimal return of income for ERAFP from the dedicated vehicle (s). The level of distribution will be measured by the rate of distribution.

The Holder will thus ensure to implement a strategy based mainly on asset management actions, but also on asset acquisitions or arbitrage, and actions for structuring the financial leverage effect, aiming at an objective of current profitability of the Portfolio, evaluated by the Annual Current Return of the Net Portfolio average investor, whose level would be above 3% per year calculated over a period of 10 years after the date of recovery of the Europe Portfolio.

In terms of the fight against climate change, the Holder will more precisely seek to place the Europe Portfolio on a greenhouse gas emission trajectory compatible with a global warming limited to 1.5°C, while optimizing, where appropriate, the work plans to be carried out in order to remain in line with the TRI objectives initials defined for the assets in the portfolio.