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Sustainable investments. With CS REF Green Property CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. Real Estate Switzerland October 2019

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Page 1: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

Sustainable investments.With CS REF Green Property

CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD.Real Estate Switzerland

October 2019

Page 2: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

2The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

5

Key figures4

Issue 20193

Sustainability and awards2

Key facts, profile, and strategy1

Overview

6 Reasons to invest

Properties in the fund's net assets

Page 3: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

3The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Planned issue

Credit Suisse Asset Management Global Real Estate is carrying out a share issue for Credit Suisse Real Estate Fund Green Property (CS REF Green Property, sec. no. 10 077 844) with a

volume of CHF 179.7 mn.

The issue will take place between October 28 and November 8, 2019.

The capital increase will preserve the subscription rights of existing shareholders.

The proceeds of the issue will be used to grow the high-quality real estate portfolio.

There are existing projects and intended purchases amounting to CHF 352 mn and a gross yield of around 4.16%.

Credit Suisse Real Estate Fund Green PropertyKey facts

Source: Credit Suisse Asset Management (Switzerland) Ltd. | Historical performance data and financial market scenarios are not reliable indicators of future performance

Page 4: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

4The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Profile

Largest Swiss real estate fund with sustainable properties1 –the fund was launched in April 2009 and merged with CS REF PropertyPlus at the beginning of July 2016.

Broadly diversified portfolio – by properties, regions, types of

use, and tenants with 42 properties and six projects with a market value of approx. CHF 2,570.5 mn.

Traded on the SIX Swiss Exchange. The fund currency is the Swiss franc (CHF).

The fund holds the real estate directly.

Investment strategy

Sustainability – the aim is for projects and properties to meet the requirements of greenproperty, the quality seal for

sustainable construction. Focused on young building stock and new construction projects,

it invests in high-quality residential and commercial buildings

that are located in strong economic regions in Switzerland.

Credit Suisse Real Estate Fund Green PropertyProfile and investment strategy

Source: Credit Suisse Asset Management (Switzerland) Ltd.

1 SXI Real Estate® Funds TR as of December 31, 2018

Page 5: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

5The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

5

Key figures4

Portfolio expansion and ongoing projects3

Sustainability and awards2

Key facts, profile, and strategy1

Overview

6 Reasons to invest

Properties in the fund's net assets

Page 6: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

6The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Credit Suisse Real Estate Fund Green PropertyOverview of the fund's sustainability initiatives

1 | Building certificates 2 | Building optimization 3 | ESG performance

Internal standard:

greenproperty quality seal

External standards:

Minergie, SNBS, DGNB, LEED, etc.

Comprehensive ESG performance

measurement and benchmarking against the

market and peers with Global Real Estate

Sustainability Benchmark (GRESB), annually

Assessment and optimization with Siemens

Switzerland to enhance energy efficiency and to

reduce CO2 emissions

Short-term building optimization measures (low

capex)

Long-term measures per lifecycle of

installations (high capex)

4 | Renewable energy sources 5 | Electromobility 6 | CO2-neutral electricity

Photovoltaic systems have been installed on

roofs for cost-efficient energy consumption.

The use of the self-produced electricity is used

for the general electricity or by the tenants and

settled directly with the energy supply

companies.

In individual cases, a merger for own

consumption (ZEV) is checked and applied.

CO2-neutral electricity is used in communal

areas (e.g. lighting, elevator, heat pump, etc.)

Electricity is procured centrally via swenex

Swiss Energy Exchange Ltd.

If no CO2-neutral purchasing is possible for the

local supplier, compensation is provided via

swenex through the purchase of proofs of

origin from the production of renewable

energies (Wasserkraft Europa).

The monitoring and administration of

guarantees of origin is carried out by the

accredited certification institution Pronovo AG

The basic infrastructure of all buildings has

been designed with electric vehicle charging

stations in mind.

The equipment of the electric charging stations

(usually system with load management) takes

place on demand of the tenants.

For the electric two-wheelers (scooters)

charging stations are provided if required.

Central charging options for rechargeable

batteries of e-bikes are available on request.

Source: Credit Suisse Asset Management (Switzerland) Ltd.

Page 7: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

7The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Credit Suisse Real Estate Fund Green PropertyImplementation of Sustainable Development Goals via greenproperty

In September 2015, 193 countries at the UNO summit in New York approved 17 Sustainable Development Goals (SDGs.)

UN Sustainable Development

Goals

Relevant development goals of

CS REF Green Property

As a result of the greenproperty quality seal, CS REF Green Property is able to meet 9 of the UN Sustainable Development Goals.

Source: UN Sustainable Development Goals (2019) | Credit Suisse Asset Management (Switzerland) Ltd.

Page 8: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

8The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Credit Suisse Real Estate Fund Green Propertygreenproperty – the five dimensions and their criteria

Source: Credit Suisse Asset Management (Switzerland) Ltd.

Cri

teri

a

nUse Planning

Target groups

Interior design

Ambient comfort

Visual and acoustic

comfort

nInfrastructure Location

Mobility

Security

Emissions

External space

nCO2/energy Architecture/concept

Self-sufficiency

Greenhouse gases

Primary energy

Electricity

nMaterials Contaminated sites

Gray energy

Pollution

Indoor air quality

Water

nLifecycle Efficiency/flexibility

Commissioning

Maintenance

Operation

Data management/

documentation

Exam

ple

s Promoting social contact via communal spaces or meeting places

Easily accessible locations with links to public transportation to promote sustainable mobility

Renewable energy that is produced and used locally, thanks to the installation of photovoltaic systems

Avoidance of materials in the interior containing solvents to ensure that only environmentally friendly, non-toxic materials are used

Use of measuring devices for energy control to optimize operations.

Page 9: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

9The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Web-based database for the certification process, reporting and historization of data

Utilization of Global Real Estate Switzerland for all new construction projects

10-year anniversary and launch of revised version

Recognition of the quality seal

from GRESB (Global Real Estate Sustainability Benchmark)

Launch of the quality seal

exclusively for Credit Suisse Real Estate Fund Green Property

First building is awarded

greenproperty Gold

Credit Suisse Real Estate Fund Green Propertygreenproperty – seal of quality success story

2009

Source: Credit Suisse Asset Management (Switzerland) Ltd.

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

100 quality seals awarded

and a further 150 properties in the process of certification

Real estate with a value of over

CHF 6 bn given certification

Page 10: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

10The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

In 2018 and 2019, CS REF Green Property won the IAZI Real Estate Award in the Best Investment Fund

category. The objective selection criteria include various key figures such as performance, vacancy rates, and property expenses.

Credit Suisse Real Estate Fund Green PropertyAwards

Source: Credit Suisse Asset Management (Switzerland) Ltd.

In 2019, CS REF Green Property received the Green

Star Award from the international benchmarking initiative Global Real Estate Sustainability Benchmark (GRESB)

for its sustainability performance.

Page 11: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

11The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

5

Key figures4

Issue 20193

Sustainability and awards2

Key facts, profile, and strategy1

Overview

6 Reasons to invest

Properties in the fund's net assets

Page 12: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

12The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Credit Suisse Real Estate Fund Green PropertyKey figures on capital increase

Type of issue Best-effort basis with subscription rights trading

Subscription period Monday Oct. 28 – Friday Nov. 8, 2019, 12:00 (CET)

Subscription rights trading Monday Oct. 28 – Wednesday Nov. 6, 2019

Payment of securities subscribed Nov. 15, 2019

Issue price CHF 119.00 net per share certificate

Subscription ratio 12:1 (twelve existing shares certificates to one new one)

Target volume CHF 179.7 mn.

Issuing commission

2.50% of NAV (included in the issue price)

Partial reimbursement of the 0.75% issuing commission with the purchase of least 15,000 new shares (corresponds to approx. CHF 1.8 mn)

Fund unit identifierSwiss security number: 10 077 844ISIN: CH010 077 844 5

Subscription rights identifierSwiss security number: 50 030 028

ISIN: CH050 030 028 7

Source: Credit Suisse Asset Management (Switzerland) Ltd.

Page 13: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

13The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Credit Suisse Real Estate Fund Green PropertyPortfolio expansion

Location Use Total volume Remaining amount Gross yield Construction

Bülach, "Im Guss," main building, BB1 52% retail, 48% commercial CHF 23 mn - 4.82% 2018–2019

Bülach, "Im Guss", "Hardhof", BB2 100% residential CHF 71 mn CHF 12 mn 4.08% 2018–2019

Bülach, "Im Guss," "Lindihof," BB5 100% residential CHF 77 mn CHF 14 mn 4.10% 2018–2019

Liestal, "Grammet" 100% residential CHF 61 mn CHF 36 mn 4.01% 2018–2020

Martigny, "Le Clos des Vergers" 100% residential CHF 38 mn CHF 12 mn 4.16% 2018–2020

Sursee, "Vierherrenplatz" 68% residential, 32% commercial CHF 26 mn CHF 15 mn 4.11% 2018–2021

1 Implementation dependent on legal effect of building permit | 2 50% joint ownership (under leasehold) | 3 Contracts are notarized. Entry is completed when building permit becomes legally binding.Source: Credit Suisse Asset Management (Switzerland) Ltd. | Historical performance data and financial market scenarios are not reliable indicators of future performance

Projects acquired

Planned projects

Ongoing projects

Location Use Total volume Remaining amount Gross yield Construction

Spreitenbach, "Tivoli-Garten"1/2 68% residential, 32% commercial CHF 140 mn CHF 140 mn 4.29% 2020–2024

Winterthur, "Lokwerk"1 100% residential CHF 33 mn CHF 33 mn 4.24% 2020–2022

Location Use Total volume Remaining amount Gross yield Construction

Lugano, "Parco Brentani"3 74% residential, 26% commercial CHF 90 million CHF 90 million 4.03% 2020–2023

Total ongoing projects, planned projects, and projects acquired CHF 559 mn CHF 352 mn 4.16% 2018–2024

Page 14: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

14The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Bülach, "Im Guss,"

"Lindihof"

Under construction (residential)Purchase date: May 22, 2017Completion: Oct. 1, 2019Investment: CHF 76.8 mnGross yield: 4.10%Rental occupancy: 70%Sustainability: greenproperty

Credit Suisse Real Estate Fund Green PropertyOngoing projects

Bülach, "Im Guss,"

"Langenhof"

Under construction (residential)Purchase date: May 22, 2017Completion: Nov. 1, 2019Investment: CHF 70.8 mnGross yield: 4.08%Rental occupancy: 51%Sustainability: greenproperty

Bülach, "Im Guss,"

main building

Under construction (commercial)Purchase date: May 22, 2017Completion: Sept. 1, 2019Investment: CHF 23.5 mnGross yield: 4.82%Rental occupancy: 85%Sustainability: greenproperty

Source: Credit Suisse Asset Management (Switzerland) Ltd. | Historical performance data and financial market scenarios are not reliable indicators of future performance

Page 15: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

15The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Sursee,

"Vierherrenplatz"

Under construction (mixed)Purchase date: July 17, 2018Completion: Mar. 1, 2021Investment: CHF 26.0 mnGross yield: 4.11%Start of marketing: Fall 2020Sustainability: greenproperty

Credit Suisse Real Estate Fund Green PropertyOngoing projects

Martigny,

"Les Clos de Vergers"

Under construction (residential)Purchase date: Apr. 5, 2018Completion: Mar. 1, 2020Investment: CHF 37.6 mn Gross yield: 4.16%Start of marketing: Fall 2019Sustainability: greenproperty

Liestal,

"Grammet"

Under construction (residential)Purchase date: Jan. 15, 2018Completion: Dec. 1, 2020Investment: CHF 61.3 mnGross yield: 4.01%Start of marketing: Fall 2019Sustainability: greenproperty

Source: Credit Suisse Asset Management (Switzerland) Ltd. | Historical performance data and financial market scenarios are not reliable indicators of future performance

Page 16: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

16The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Lugano,

«Parco Brentani»3

Purchase date: Fall 2019Completion: 2023Investment: CHF 90 millionGross yield: 4.03%Sustainability: greenpropertyType of use: 74% residential

26% commercial

Credit Suisse Real Estate Fund Green PropertyPlanned projects

Winterthur,

"Lokwerk"1

Purchase date: Apr. 5, 2018Completion: 2022Investment: CHF 33 mnGross yield: 4.24%Sustainability: greenpropertyType of use: 100% residential

Spreitenbach,

"Tivoli Garten"1/2

Purchase date: Fall 2019Completion: 2024Investment: CHF 140 mnGross yield: 4.29%Sustainability: greenpropertyType of use: 68% residential

32% commercial

Source: Credit Suisse Asset Management (Switzerland) Ltd. | Historical performance data and financial market scenarios are not reliable indicators of future performance

1 Implementation dependent on legal effect of building permit | 2 50% joint ownership (under leasehold) | 3 Contracts are notarized. Entry is completed when building permit becomes legally binding.

Page 17: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

17The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

5

Key figures4

Issue 20193

Sustainability and awards2

Key facts, profile, and strategy1

Overview

6 Reasons to invest

Properties in the fund's net assets

Page 18: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

18The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Credit Suisse Real Estate Fund Green PropertyFinancial highlights

Past performance and financial market scenarios are not reliable indicators of future results.

Source: Annual and semi-annual reports for CS REF Green Property Last data point: June 30, 2019

Annual reports 12/31/2017 12/31/2018 06/30/2019

Net fund assets in CHF mn 2,044.7 2,061.3 2,031.6

Market value of properties in CHF mn 2,450.3 2,544.8 2,570.5

Premium/discount 20.54% 12.53% 29.16%

Distribution per unit in CHF 3.60 3.70 n/a

Direct yield 2.65% 2.89% n/a

Distribution rate 97.36% 95.86% n/a

Investment return 4.00% 4.12% 1.85%1

Debt financing ratio (in % of market value) 13.40% 14.41% 17.48%

Fund's total expense ratio (TERREFGAV) 0.66% 0.65% 0.65%

Fund's total expense ratio (TERREFMV) 0.70% 0.70% 0.69%

Rent default rate 5.20% 4.69% 3.59%

Page 19: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

19The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Credit Suisse Real Estate Fund Green PropertyKey figures (1/3)

Source: Credit Suisse Asset Management (Switzerland) Ltd.

Last data point: December 31, 2018

2.50

3.00

3.50

4.00

4.50

2014 2015 2016 2017 2018

Distribution in CHF

2.9%

2.8%

2.9%

2.7%

2.9%

2.8% 2.8%

2.7% 2.7%

2.9%

2.6%

2.7%

2.7%

2.8%

2.8%

2.9%

2.9%

3.0%

2014 2015 2016 2017 2018

Direct yield

fund benchmark

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

2014 2015 2016 2017 2018

Rent default rate

Key takeaways

Stable annual distribution

Attractive direct yield

Falling rent default rate

Page 20: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

20The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Credit Suisse Real Estate Fund Green PropertyKey figures (2/3)

Source: Credit Suisse Asset Management (Switzerland) Ltd. | Last data point: Investment return: Dec. 31, 2018 / Performance: September 30, 2019

For quarterly returns over the last five years see slide 29 – Historical performance and financial market scenarios are not reliable indicators of future results.

3.80%4.22%

5.68%

4.00% 4.12%

0%

1%

2%

3%

4%

5%

6%

2014 2015 2016 2017 2018

Investment return

Rolling performance Annual performance

9.4%8.0%

9.5%6.9%

-3.2%

15.0%

4.2%

6.8% 6.6%

-5.3%

-10%

-5%

0%

5%

10%

15%

20%

2014 2015 2016 2017 2018

fund benchmark

Key takeaways

Attractive investment return

Performance is above the benchmark

0.6% 0.2%

16.5% 16.9% 18.2%

47.0%

0.1% 1.0%

14.1% 13.0%14.6%

36.4%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

1 month 3 months YTD 1 year 3 years 5 years

fund benchmark

Page 21: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

21The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

34.9%

28.2%

14.5%

9.4%

7.7%2.6% 2.8%

Offices

Residential

Retail

Cinemas/hotels/restaurants

Parking

Other

Warehousing

6.8%

10.3%

5.1%

14.7%

4.8% 4.1%

0.1%

6.0%

2.1%

9.9%

28.2%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

Credit Suisse Real Estate Fund Green PropertyKey figures (3/3)

Source: Credit Suisse Asset Management (Switzerland) Ltd. | Last data point: December 31, 2018 1 Weighted data on the basis of annual rent

Ten largest tenants

Cilag GmbH International 7.77%

Coop 5.11%

Migros 4.71%

BHS Hotel AG 2.86%

Shire AG 2.56%

Aduno Holding AG 2.38%

Fossil Group AG 2.38%

KPT Krankenkasse AG 2.25%

Steiner AG 2.19%

CYBM Basel AG 1.94%

Structural allocation by actual net rental income

Remaining life of rental agreements

WAULT: 6.0 years

40.9%

9.6%

20.3%

12.6%

6.5%

6.5% 3.0%

Zurich

Eastern Switzerland

Central Switzerland

Northwestern Switzerland

Bern

Southern Switzerland

Lake Geneva

Western Switzerland

Geographical distribution

Page 22: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

22The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Credit Suisse Real Estate Fund Green PropertyEnergy and CO2 performance

Source: Credit Suisse Asset Management (Switzerland) Ltd. | Last data point: December 31, 2018

CO2 in kg/m2, total (adjusted for climate factors) Energy emission diagram

101.0 97.9 95.0 99.193.5 91.6

0

20

40

60

80

100

120

2012 2013 2014 2015 2016 2017

Energ

y in

kW

h/m

2,

tota

l

Final energy in KWh/m2, total (adjusted for climate factors)

15.3 14.9 14.4 14.6 13.8 13.6

0

5

10

15

20

2012 2013 2014 2015 2016 2017

CO

2 in

kg/m

2

0.0

10.0

20.0

30.0

40.0

50.0

60.0

0.0 50.0 100.0 150.0

CO

2em

issi

ons

in k

g/m

2

Final energy in kWh/m2

CS REF Green PropertySwiss average

Key takeaways

More than 50 percent lower CO2 emissions than the Swiss average

Around 25 percent lower energy consumption than the Swiss average

Page 23: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

23The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

5

Key figures4

Issue 20193

Sustainability and awards2

Key facts, profile, and strategy1

Overview

6 Reasons to invest

Properties in the fund's net assets

Page 24: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

24The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Dietikon,

«Westhöfe»

Mixed-use propertyPurchase date: 10/26/2009 26, 2009Year of construction: 2011 Market value: CHF 62.7 mn Gross yield: 4.91% 2.5% of the portfolio greenproperty Gold

Credit Suisse Real Estate Fund Green PropertyProperties in the fund's net assets (excerpt)

Source: Credit Suisse Asset Management (Switzerland) Ltd.

Bern,

«twistagain»

Commercial propertyPurchase date: 01/01/2014 Year of construction: 2016 Market value: CHF 92.2 mnGross yield: 5.04% 3.6% of the portfoliogreenproperty Gold

Basel,

Hammerstrasse 46

Commercial property Purchase date: 05/30/2007 Year of construction: 2008 Market value: CHF 25.7 mn Gross yield: 4.67% 1.0% of the portfolio Minergie

Eysins,

«Terre Bonne»

Commercial property Purchase date: 05/01/2012 Year of construction: 2012 Market value: CHF 44.3 mn Gross yield: 6.49% 1.7% of the portfolio greenproperty Silver

Historical performance data and financial market scenarios are not reliable indicators of future performance.

Page 25: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

25The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Rorschach,

«Trischli's»

Mixed-use property Purchase date: 01/15/2010 Year of construction: 2011 Market value: CHF 41.4 mn Gross yield: 4.97% 1.6% of the portfolio greenproperty Gold

Credit Suisse Real Estate Fund Green PropertyProperties in the fund's net assets (excerpt)

Source: Credit Suisse Asset Management (Switzerland) Ltd.

Lucerne,

«Lakefront Center»

Commercial property Purchase date: 10/05/2004 Year of construction: 2006 Market value: CHF 123.7 mn Gross yield: 4.82% 4.9% of the portfolio greenproperty Bronze

Geneva,

Rue Ferdinand Hodler 23

Commercial property Purchase date: 07/01/2009 Year of construction: 1961/2007 Market value: CHF 41.2 mn Gross yield: 4.10% 1.6% of the portfolio greenproperty Silver

Schlieren,

«amRietpark»

Mixed-use property Purchase date: 05/01/2012 Year of construction: 2012/13/15 Market value: CHF 185.7 mn Gross yield: 4.36% 7.3% of the portfolio greenproperty Bronze-Gold

Historical performance data and financial market scenarios are not reliable indicators of future performance.

Page 26: Sustainable investments. With CS REF Green Property › media › assets › asset-management … · market and peers with Global Real Estate Sustainability Benchmark (GRESB), annually

26The disclaimers mentioned at the end of this document also apply to this page.CREDIT SUISSE ASSET MANAGEMENT (Switzerland) LTD. October 2019

Zug,

«Foyer»

Commercial property Purchase date: 05/10/2010 Year of construction: 2012 Market value: CHF 221.3 mn Gross yield: 4.15% 8.7% of the portfolio greenproperty Gold

Credit Suisse Real Estate Fund Green PropertyProperties in the fund's net assets (excerpt)

Source: Credit Suisse Asset Management (Switzerland) Ltd.

Winterthur,

«Roy»

Residential property Purchase date: 04/25/2013 Year of construction: 2016 Market value: CHF 38.3 mn Gross yield: 4.13% 1.5% of the portfolio greenproperty Gold

Wallisellen,

«Zentrum»

Commercial property Purchase date: 10/01/2013 Year of construction: 2010 Market value: CHF 120.8 mn Gross yield: 5.07% 4.8% of the portfolio greenproperty Silver

Zurich,

«Accu»

Mixed-use property Purchase date: 12/01/2004 Year of construction: 2006 Market value: CHF 187.1 mn Gross yield: 4.26% 7.4% of the portfolio greenproperty Bronze

Historical performance data and financial market scenarios are not reliable indicators of future performance.

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5

Key figures4

Issue 20193

Sustainability and awards2

Key facts, profile, and strategy1

Overview

6 Reasons to invest

Properties in the fund's net assets

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Credit Suisse Real Estate Fund Green PropertyReasons to invest

Switzerland's largest real estate

fund1 with a focus on

sustainability

Gross yield of 4.16%for

ongoing and planned projects

General power consumption of

all properties is CO2-

neutral

Investments in

residential and commercial

properties

Broadly diversified portfolio with

48 properties

greenproperty quality seal uses

ESG criteria

Most portfolio properties have

good public

transportation

links

Focus on strong urbanregions of Switzerland

Ongoing and planned projects

amounting to

CHF 352 mn

1 SXI Real Estate® Funds TR as of December 31, 2018

Source: Credit Suisse Asset Management (Switzerland) Ltd. | Historical performance data and financial market scenarios are not reliable indicators of future performance

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Credit Suisse Real Estate Fund Green PropertyYour contacts

Key figures as of semi-annual and annual closing of accounts Past performance and financial market scenarios are not reliable indicators of future performance.

Source: Credit Suisse Asset Management (Switzerland) Ltd.

Portfolio Manager

Urs FreyProduct ManagementSihlcity – Kalandergasse 48070 Zurich, Switzerland

[email protected]

Phone +41 44 334 31 50*

Fund details

Fund domicile SwitzerlandFund currency CHF

End of financial year December 31Inception May 12, 2009Management fee 0.50% p.a.TERREFGAV 0.65%Fund's net assets (in CHF mn) 2,031.6Total fund assets (in CHF mn) 2,603.4Number of properties 42 properties

6 construction projects

Distribution as of Mar. 11, 2019 (CHF) 3.70Direct yield 2.89%

Rental default rate 3.59%

Debt financing ratio 17.48%

Bloomberg CSREGRP SW

Swiss Security Number 10077844ISIN CH0100778445

Product Specialist

Christian Braun, CIIA

Business DevelopmentSihlcity – Kalandergasse 48070 Zurich, Switzerland

[email protected]

Phone +41 44 333 44 00*

*Please note that telephone calls to our numbers may be recorded. By making a call, you acknowledge your agreement with this business practice.

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Credit Suisse Real Estate Fund Green PropertyKey figures – quarterly returns

Source: Credit Suisse / Datastream Last data point: September 30, 2019

Historical performance data and financial market scenarios are not reliable indicators of future performance.

Q1 Q2 Q3 Q4

quarterly returns net BM rel. net BM rel. net BM rel. net BM rel.

2014 5.84% 3.69% 2.15% -0.52% 1.09% -1.61% 0.79% 3.09% -2.30% 3.14% 6.41% -3.27%

2015 11.51% 8.16% 3.35% 0.62% -4.86% 5.48% 3.14% -7.49% 10.63% 4.09% 2.80% 1.29%

2016 9.55% 3.79% 5.76% -0.83% 2.57% -3.40% 2.74% 0.88% 1.86% -1.86% -0.50% -1.36%

2017 3.92% 4.57% -0.65% 0.75% 2.49% -1.74% -2.69% -2.82% 0.13% 4.92% 2.35% 2.57%

2018 -1.88% -1.86% -0.02% -0.31% -0.76% 0.46% -1.47% -1.82% 0.35% 0.39% -0.99% 1.38%

2019 9.73% 8.46% 1.27% 5.93% 4.15% 1.78% 0.21% 1.03% -0.82% see bellow see bellow see bellow

1 month 3 months YTD

net BM rel. net BM rel. net BM rel.

2019 0.63% 0.15% 0.48% 0.21% 1.03% -0.82% 16.48% 14.13% 2.35%

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Mitigation

Thorough due diligence prior to purchase of any property Continuous monitoring of individual investments, rental markets,

and the macroeconomic environment by our Global Real Estate

Strategy team

Local internal and external experts on regulatory framework conditions and taxes

Broad portfolio diversification through carefully selected properties

Investments primarily through equity and a carefully selected level of debt capital absorb negative interest rate developments

Risk

Limited liquidity compared with larger listed investment products

The values of properties may fluctuate, for example due to the

following:

Unfavorable changes in supply or demand that negatively impact the acquisition/sale or rental of properties

Development of interest rates and/or currencies Taxes or changed regulatory conditions in the respective

markets Environmental risks Disasters Force majeure and terrorism

Credit Suisse Real Estate Fund Green PropertyRisks and risk mitigation

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Credit Suisse Real Estate Fund Green PropertySelected ESG criteria and the five greenproperty dimensions

Source: Credit Suisse Asset Management (Switzerland) Ltd.

E | Environment

CO2 emissions

Energy efficiency

Water consumption

Waste consumption

Pollution

Biodiversity

S | Social

Working conditions

and working standards

Health, safety,

and wellbeing

Community engagement and

relations

Gender equality

Human rights

G | Governance

Board quality and

diversity

Shareholder rights

Compliance and control

Systematic risk management

Business ethics

Regulatory requirements

Selected ESG

criteria

The five greenproperty

dimensions and their criteria

1 | Use

Planning

Target groups

Interior design

Ambient comfort

Visual and

acoustic comfort

3 | CO2/energy

Architecture/concept

Self-sufficiency

Greenhouse gases

Primary energy

Electricity

2 | Infrastructure

Location

Mobility

Security

Emissions

External space

4 | Materials

Contaminated sites

Gray energy

Pollution

Indoor air quality

Water

5 | Lifecycle

Efficiency/flexibility

Commissioning

Maintenance

Operation

Data

management/documentation

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Disclaimer

The information provided herein constitutes marketing material. It is not investment advice or otherwise based on a consideration of the personal circumstances of the addressee nor is it the result of objective or independent research. The information provided herein is not legally binding and it does not constitute an offer or invitation to enter into any type of financial transaction.The information provided herein was produced by Credit Suisse Group AG and/or its affiliates (hereafter "CS") with the greatest of care and to the best of its knowledge and belief. The information and views expressed herein are those of CS at the time of writing and are subject to change at any time without notice. They are derived from sources believed to be reliable.CS provides no guarantee with regard to the content and completeness of the information and where legally possible does not accept any liability for losses that might arise from making use of the information. If nothing is indicated to the contrary, all figures are unaudited. The information provided herein is for the exclusive use of the recipient.Neither this information nor any copy thereof may be sent, taken into or distributed in the United States or to any U. S. person (within the meaning of Regulation S under the US Securities Act of 1933, as amended).It may not be reproduced, neither in part nor in full, without the written permission of CS.The key risks of real estate investments include limited liquidity in the real estate market, changing mortgage interest rates, subjective valuation of real estate, inherent risks with respect to the construction of buildings and environmental risks (e.g., land contamination).CS Real Estate Fund Green Property: This fund is domiciled and registered in Switzerland. The fund management company is Credit Suisse Funds AG, Zurich. The custodian bank is Credit Suisse (Switzerland) Ltd, Zurich. The prospectus, the simplified prospectus and/or the Key Investor Information Document (KIID) and the annual and half-yearly reports may be obtained free of charge from the fund management company or from any branch of Credit Suisse (Switzerland) Ltd. in Switzerland.Your Personal Data will be processed in accordance with the Credit Suisse privacy statement accessible at your domicile through the official Credit Suisse website https://www.credit-suisse.com. In order to provide you with marketing materials concerning our products and services, Credit Suisse Group AG and its subsidiaries may process your basic Personal Data (i.e. contact details such as name, e-mail address) until you notify us that you no longer wish to receive them. You can opt-out from receiving these materials at any time by informing your Relationship Manager.”

Copyright © 2019 Credit Suisse Group AG and/or its affiliates. All rights reserved.