2017 FULL-YEAR EARNINGS — FEBRUARY 8, 2018 A FINANCIAL STRATEGY THAT SUPPORTS CASH FLOW GROWTH AND PORTFOLIO ENHANCEMENT TO DELIVER SHAREHOLDER VALUE CAGRbetween 2013 and 2017 Leveraging NRIgrowth through… Consolidate the market through M&A transactions CASH FLOW LOAN-TO-VALUE GROWTH ps -680bps +4.6% …operating cost base …cost of debt Disposals of Share buyback streamlining &… reduction non-core assets below NAV DIVIDEND EPRANAV +6.0% +5.3% 44