NSI N.V.

Share Issue/Capital Change • Jun 17, 2015

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA

PRESS RELEASE

NSI sells 5.7 million IOW shares, reducing its stake to 15.2%

- successful bookbuild results in sale of maximum intended volume of 35%-

Hoofddorp, 17 June 2015 – NSI N.V. ("NSI") announces that it has sold 5.7 million of shares of Intervest Offices & Warehouses ("IOW" ) through an accelerated bookbuild, reducing its stake from 50.2% to 15.2% The accelerated bookbuild was announced and launched today at a fixed price offer of €19.50, by which NSI intended to sell a stake between 25% to 35% of IOW shares. Following the success of the bookbuild, the maximum intended volume of 35% has been sold. The total gross transaction proceeds of approx. €111 million will be used to pursue opportunities in the Dutch office market, in line with NSI's strategy.

NSI announced its portfolio strategy in February 2014, involving focusing on assets where NSI can achieve the best returns through its active management. Key in this strategy is asset rotation. By selling mature assets, NSI releases capital to reinvest in assets where NSI's management can add value.

Bank Degroof, ING and Kempen & Co act as joint global coordinators and joint bookrunners in this transaction.

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 and Belgium. NSI is a publicly listed real estate company, and manages invested assets of around €1.7 billion.

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

IMPORTANT INFORMATION

This announcement is for information purposes and is not intended to constitute, and should not be construed as an offer to sell or a solicitation to buy or subscribe to any securities, nor shall there be any sale of the securities referred to herein, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction, or to any person or entity to whom it is unlawful to make such offer.

This document and the information contained herein are not for distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any State of the United States of America and the District of Columbia) (the "United States"). This document does not constitute, or form part of, an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. The securities discussed herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from

registration requirements of the U.S. Securities Act. No public offering of securities is being or will be made in the United States.

In the European Economic Area, this announcement is only addressed to and is only directed at qualified investors within the meaning of Directive 2003/71/EC (as amended, and together with any applicable implementing measures in any Member State, the "Prospectus Directive") ("Qualified Investors").

In addition, in the United Kingdom, this announcement is directed at and for distribution only to Qualified Investors who are (i) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act (Financial Promotion) Order 2005, as amended (the "Order"), or (ii) persons who are high net worth entities falling within Article 49(2)(a) to (d) of the Order, and other persons to whom this Prospectus may otherwise lawfully be communicated (all such persons together being referred to as "Relevant Persons"). The securities referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with Relevant Persons. Any person who is not a Relevant Person should not act or rely on this communication or any of its contents."