Commentary & Deal Flow

Hines Real Estate Master FCP– FIS – Hines European Core Fund “HECF”, a diversified open-ended real estate vehicle, (country: LU) rated BBB+ (stable) by Fitch, has mandated BNP Paribas, Crédit Agricole CIB and ING as Global Coordinators and Joint Bookrunners to arrange a series of fixed income investor calls on Monday 29-Jun-26 and Tuesday 30-Jun-26. A NetRoadShow presentation with voiceover, the Preliminary Prospectus, Green Finance Framework and Second Party Opinion have been made available. Crédit Agricole CIB is coordinating logistics.

An inaugural Green, Senior Unsecured, Reg S (Cat2) €500m (WNG) 5-year Notes offering is expected to follow, subject to market conditions. The Notes are expected to be rated A- by Fitch.

An amount equal to the net proceeds of the issue of the Notes will be used to finance and/or refinance, in whole or in part, new or existing Eligible Green Projects and existing green debt, including repayment in full of the ING/Postbank Facility 3, as further described in the Issuer's green finance framework dated February 2026. ISS-Corporate has provided a Second Party Opinion on the Green Finance Framework.

ING is acting as Sole ESG Structuring Coordinator.

Company Representatives:
Simone Pozzato - Fund Manager - Senior Managing Director
Jonathan Weaver - Fund Finance - Managing Director
Daniel Chang - Asset Management and Sustainability Europe - Managing Director

Virtual Call Schedule | 45 Minute Calls:
Monday 29-Jun-26
Slot#1: 11:00 UKT / 12:00 CET
Slot#2: 13:00 UKT / 14:00 CET
Slot#3: 14:00 UKT / 15:00 CET
Slot#4: 15:00 UKT / 16:00 CET
Slot#5: 16:00 UKT / 17:00 CET

Tuesday 30-Jun-26
Slot#6: 09:00 UKT / 10:00 CET
Slot#7: 10:00 UKT / 11:00 CET
Slot#8: 12:00 UKT / 13:00 CET
Slot#9: 13:00 UKT / 14:00 CET
Slot#10: 14:00 UKT / 15:00 CET

DealRoadshow Information:
Visit www.netroadshow.com and enter the deal entry code: Hines2026
Direct Link: www.netroadshow.com/nrs/home/#!/?show=289b4132