Acquisition Lake Side Portfolio

March 2012

■ Key transaction highlights

■ Transfer & other transaction terms

■ Overview assets

■ Portfolio analysis

■ Strategic rationale

■ Funding on closing & post closing

■ Impact on WDP portfolio

■ Appendix – Overview properties

Agenda

Key transaction highlights

■ Lake Side Portfolio transaction (*)

■ Acquisition of a high quality, long leased logistics portfolio in the Netherlands

■ 8 modern logistics/industrial facilities rented out to quality tenants

■ Financial details

■ Asset deal of 8 freehold properties for a total investment of EUR 105m (**)

■ Annualized rental income of EUR 8.2m generating a gross initial yield of 7.8% (***)

■ Strategic fit

■ Further deployment in second home market the Netherlands

■ Strengthening portfolio quality & lengthening lease duration

(*) WDP has signed a binding agreement in principle that is subject to a number of customary closing

conditions (such as a due diligence)

(**) Including transaction costs

(***) Calculated by dividing the annualized gross rental income by the purchase price (including

transaction costs)

Transfer & other transaction terms

■ Deal structure

■ Transfer of 6 finished & rented properties end of April for circa EUR 83m (*)

■ Purchase of 2 pre-let developments on completion in 2H12 for circa EUR 22m (**)

■ Closing

■ Anticipated on April 27, 2012

■ Subject to a number of customary closing conditions (a.o. due diligence)

(*) The economic transfer of the properties that generated rental income at the start of the current

calendar year is foreseen on January 1, 2012

(**) These 2 properties are expected to be delivered in early September and early December respective

amounts of circa EUR 10m and circa EUR 12m

Overview assets

Location Type Tenant

Site area

(m²)

Gross Lettable

Area (m²)

Occupancy

rate

Gross annual

rent (EUR m)

Lease

duration (y)

Nieuwegein Logistic V&D 42.980 44.423 100% 2,5 15,3

Zwolle Logistic Kuehne + Nagel 35.826 19.765 100% 1,2 7,6

Helmond Industrial Prinsen 16.874 13.025 100% 0,7 15,0

Veghel Industrial Vetipak 10.000 9.820 100% 0,5 9,1

Oss Industrial Vetipak 10.089 11.074 100% 0,5 14,0

Roosendaal (*) Industrial BIS Industrial Services 32.000 9.091 100% 0,8 10,0

Oss Logistic Movianto 21.600 16.905 100% 0,9 10,0

Beek (Maastricht-Airport) (*) Logistic Koninklijke Mosa 38.200 25.197 100% 0,9 15,0

Total 207.569 149.300 100% 8,2 12,5

(*) Under construction with deliveries scheduled in 2H12

Portfolio analysis

Portfolio by type of property (m²) Portfolio by state of property (m²)

Strategic rationale

■ Excellent quality assets

■ Long duration leases

■ Complementary to existing portfolio

■ 2010-13 growth plan

■ Strengthening Benelux market leadership

■ Building strong platform in the Netherlands

Funding on closing & post closing

■ Proposed financing on closing

■ Initial funding through existing credit facilities

■ Maximum temporary impact on debt ratio of 4%

■ Funding post closing

■ Optional dividend will be offered to the shareholders at the AGM of April 25, 2012

■ Assets held for sale (*) and retained earnings over 2012

■ Capital structure

■ Financial flexibility to be maintained

■ Gearing ratio anticipated of 57% at year-end 2012

(*) In the accounts per 31 December, 2011, 4 smaller non-strategic assets have been classified as

‘assets held for sale’ for a total consideration of EUR 14.3m

Impact on WDP portfolioWDP as per FY11

WDP pro forma

Geographical breakdown (*) Lease duration (**) Breakdown by type (***)

(*) By fair value and excluding solar panels

(**) Including solar panels

(***) By rental income

Appendix – Overview properties

Zwolle

Site area 35,826 m²

Floor area 19,765 m²

Construction year 2009

Lease term October 2019

“Hessenpoort” (Lippestraat 15)

Nieuwegein

Site area 42,980 m²

Floor area 44,423 m²

Construction year 2012 (BREEAM certified)

Lease term May 2027

“Het Klooster” (Inundatiedok 34)

Helmond

Site area 16,874 m²

Floor area 13,025 m²

Construction year 2012 (BREEAM certified)

Lease term February 2027

“Bedrijventerrein Zuidoost Brabant”

(Sojadijk 2)

Veghel

Site area 10,000 m²

Floor area 9,820 m²

Construction year 2006

Lease term March 2021

“Doornhoek” (Doornhoek 3765)

Roosendaal – BIS Industrial Services

Site area 32,000 m²

Floor area 9,091 m²

Construction year 2012 (foreseen early September)

Lease term August 2022

“Borchwerf” (Aanwas 9)

Beek – Koninklijke Mosa

Site area 38,000 m²

Floor area 25,197 m²

Construction year 2012 (foreseen early December)

Lease term November 2027

“Aviation Valley Business Park” (Steutgensweg)

Oss (1)

Site area 10,089 m²

Floor area 11,074 m²

Construction year 2010

Lease term February 2026

“Vorstengrafdonk” (Menhirweg 15)

Oss (2)

Site area 21,600 m²

Floor area 16,905 m²

Construction year 2012

Lease term March 2022

“Vorstengrafdonk” (Keltenweg 70)

Question time