TRANSACTION SUMMARY

On 12 July 2018, Nomura Real Estate Holdings Inc. (“NREHI”) announced that it had signed an agreement to acquire Lothbury Investment Management Limited (“LIM”).

Under the terms of the agreement, NREHI will acquire a majority interest of 75% in LIM, with the balance of 25% to remain in the ownership of the LIM management team.

The company will continue to operate under the Lothbury and LIM brand under the leadership of Simon Radford, Chief Executive. The LIM management team will remain responsible for the day-to-day operations of the business and retain full autonomy over its investment strategies.

The transaction, which is expected to close before the calendar year end, is subject to customary regulatory approvals and closing conditions. The financial terms of the transaction have not been disclosed.

NOMURA REAL ESTATE HOLDINGS INC. / NOMURA REAL ESTATE GROUP

NREHI, headquartered in Tokyo, Japan, is a leading real estate business group (total 25 subsidiaries with over 6,600 employees), listed on the Tokyo Stock Exchange since 2006.

NREHI, with its core company, Nomura Real Estate Development Co., Ltd. established in 1957, currently comprises of five main business units, Residential Development Business Unit, Leasing Business Unit, Investment Management Business Unit (Nomura Real Estate Asset Management Co., Ltd.), Property Brokerage & CRE Business Unit, and Property & Facility Management Business Unit.

LOTHBURY INVESTMENT MANAGEMENT GROUP LIMITED

LIM is an independent UK real estate investment manager with £2.1 billion assets under management, as at Q1 2018.

The firm has a total of 30 staff, based in its London headquarters and Dublin office, including its executive team who have worked together for almost 20 years.

LIM has over 110 institutional clients, including corporate and public sector pension funds, insurance companies, charities and private banks. LIM’s Core/Active strategy is at the heart of the firm’s investment approach and underpins its leading investment performance.

Lothbury Property Trust (LPT) is the flagship fund for LIM, providing investors with access to the UK property market. LPT holds £1.7 billion assets under management and is a balanced property unit trust providing exposure to the UK office, retail, industrial and ‘other’ sectors and is geographically spread across the UK.

ROLE

SHP acted as financial adviser to LIM.