Investor Presentaiton

Housing market recovery 60% 10% 8% 40% 6% 4% 20% 2% 0% 0% -20% TNII וי -2% -4% -6% -40% -8% -10% -60% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Transactions (LHS) Prices (RHS) Source: Statistics Netherlands (CBS) 36 36 Investor presentation Mexico City

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