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These materials do not constitute an offer of securities for sale or a solicitation of an offer to purchase securities in the United States. Any securities referred to in these materials have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act")), or under the securities laws of any state or other jurisdiction of the United States and may not be offered, sold or delivered, directly or indirectly, in or into the United States or to or for the account or benefit of “U.S. persons” (as such term is defined in regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States and under circumstances that would not require ACCENTRO Real Estate AG to register under the US Investment Company Act of 1940, as amended. There will be no public offering of securities in the United States.

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