NSI N.V.

M&A Activity • Mar 17, 2016

PRESS RELEASE

NSI completes sale of remaining interest in IOW

Hoofddorp, 17 March 2016 - NSI N.V. ("NSI") announces that it has sold its remaining interest in the Belgian listed company Intervest Offices & Warehouses ("IOW"). NSI reduced its interest from 50.2% to 15.2% in June 2015, and subsequently to 4.9% in February 2016. In the meantime, the sale of the remaining interest has been completed.

The total proceeds of the 15.2% interest (2,476,241 shares) sold in 2016 amounted to $\text{\textsterling}53.5$ million, 9% above the net asset value of IOW as per 31 December 2015 and 4% above book value of the interest in IOW in the balance sheet of NSI ( $$1.4$ million). The total transaction proceeds will be used to pursue opportunities in the Dutch office market, in line with NSI's strategy.

The transaction lead to a positive net result on sales of approx. $\epsilon$ 1.5 million in 2016.

About NSI

NSI creates - with and for its customers - inspiring environments to meet, work and do business. NSI realises this by investing in offices and retail in attractive, high-quality locations in the Netherlands. NSI is a publicly listed real estate company, and manages invested assets of around €1.2 billion.

For more information NSI N.V. - Eva Lindner T+31 (0) 20 763 0300 E eva.lindner@nsi.nl / I www.nsi.nl/