Canada – Israel Real Estate Connection

Toronto, May 4-8, 2014

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Creating a Global Real Estate Experience Locally

BUILDING A BETTER ISRAEL

It is clear that a healthy and vibrant real estate sector is essential for economic growth, productivity,

employment, and social justice. In order for Israel to meet the new economic and social challenges

it has to deal with its current real estate challenges including a potential residential price bubble

with very high costs of housing, an under developed REIT market and institutional investment

portfolios focused on Israel with minimal geographic diversification.

Tel Aviv University's Recanati Business School has established the Alrov Institute for Real Estate

Research to provide students and executives with up-to-date knowledge on the essential aspects of

real estate theory and practice. By so doing, it will qualitatively contribute to boosting the Israeli

economy, improve market stability, encourage entrepreneurship in this area, and improve

transparency in the real estate sector in Israel.

CANADA-ISRAEL REAL ESTATE CONNECTION

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Sunday, May 4

6:00 pm Welcome dinner hosted by Adgar

Monday, May 5

7:30 am Breakfast hosted by Realnet

10:00 am CBRE

12:00 pm Lunch hosted by CBRE

2:30 pm CIBC / Scotia

6:00 pm Dinner hosted by Skyline and Mishorim

Tuesday, May 6

7:30 am Breakfast hosted by Osmington

10:00 am Canada Pension Plan Investment Board

12:00 pm Lunch hosted by CPP

2:30 pm RioCan

6:00 pm Dinner hosted by First Capital

Wednesday, May 7

7:30 am Breakfast hosted by Quadrangle

10:00 am Menkes

12:00 pm Lunch hosted by Menkes

2:30 pm Multi Residential

6:00 pm Dinner hosted by Wildeboer Dellelce

Thursday, May 8

7:30 am Breakfast hosted by Schulich Real Estate

9:30 am DREAM

12:00 pm Lunch hosted by Brookfield Financial

2:30 pm Brookfield Properties

6:00 pm Closing dinner hosted by Mizrahi Developments

ITINERARY

(Subject to change)

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Adgar Canada is a subsidiary of Adgar Investments & Development Ltd., a public company traded on the Tel Aviv Stock Exchange. Adgar specializes in the acquisition, ownership, management, development and redevelopment of commercial real estate with a specific focus in office properties. Adgar Canada was founded in 2003 and has over a decade of history with a strong track record of success in commercial real estate, complemented by a disciplined and experienced management team with commercial real estate experience in Canada and the US. Their competitive advantage stems from an extensive focus, detailed market knowledge and commitment to value and service. Adgar’s portfolio of well-located, well leased, high-quality office properties is located in the Greater Toronto Area, Canada’s largest office market.

RealNet Canada Inc, was founded in 1995. At that time the Canadian real estate industry was struggling. Distress transactions, lack of capital and very limited market information all defined the Canadian Real Estate industry. Working closely with their clients for almost two decades REALNET® has helped transform the Canadian property markets to one of the most highly regarded and trusted in the world through better information and better decisions.

CBRE Group, a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. In Canada, CBRE Limited employs approximately 1,850 people in 22 locations from coast to coast.

PRESENTING COMPANIES (In order of itinerary)

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Scotiabank is a leading financial services provider in over 55 countries and Canada's most international bank. Through their team of more than 83,000 employees, Scotiabank and its affiliates offer a broad range of products and services, including personal and commercial banking, wealth management, corporate and investment banking to over 21 million customers. Scotiabank’s Global Banking and Markets division provides corporate and investment banking and capital markets products and services to corporate, institutional and government clients around the globe. They have over 30 offices globally and more than 300 relationship managers organized around industry specialties.

Formed in 1995, Osmington is one of Canada’s largest private commercial real estate companies. As an investor, developer and manager of commercial real estate, Osmington’s experience covers in excess of 10 million square feet of commercial real estate with a market value in excess of $2.7 billion. Over the past four years, Osmington has partnered with the City of Toronto in the retail redevelopment of Union Station, Canada’s busiest transit facility with more than 65 million passengers per year. With the projected doubling of passenger traffic by 2021, the City of Toronto is undertaking a $650 million revitalization of Union Station to accommodate this increased traffic. Osmington has entered into a 75 year head lease, with the responsibility to develop retail, food, special events and programming and commercial third party advertising.

CPP Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 18 million Canadian contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in London, Hong Kong, New York City and São Paulo, CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At December 31, 2013, the CPP Fund totalled $201.5 billion. For more information about CPPIB, please visit www.cppib.com.

PRESENTING COMPANIES

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RioCan is Canada's largest real estate investment trust exclusively focused on retail real estate. Their core strategy of owning and managing community-oriented neighbourhood shopping centres anchored by supermarkets, together with a rapidly expanding mix of new format retail centres. RioCan owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio containing an aggregate of over 83 million square feet. RioCan owns interests in 51 centres in the United States located in the Northeastern United States and Texas, managed through its offices in New Jersey and Dallas. RioCan's mission is to deliver to its unitholders stable and reliable cash distributions, which continuously increase over time.

First Capital Realty is Canada’s leading owner, developer and manager of well located, high quality urban retail-centered properties where people live and shop for everyday life. As at December 31, 2012, the Company owned interests in 175 properties, including six ground-up development projects, totalling approximately 25.0 million square feet of gross leasable area ("GLA") and four land sites in the planning stage for future retail development.

Established in 1986, Quadrangle Architects Limited is among Canada’s most dynamic architectural firms. Our portfolio of projects illustrates a diversified client list that includes major players in the residential, commercial, media and hospitality industries. Equally wide-ranging is our scope and expertise in the rehabilitation and conversion of existing buildings, historical restorations and renovations, corporate interiors and institutional projects. With over 50 awards to our credit, we consistently achieve excellence in architecture and design. Recent projects of note include Studio on Richmond, 130 Bloor Street West/155 Cumberland Street, the BMW Toronto Showroom and the new ONroute Service Centres on Highways 401 and 400. Recent interiors projects include Corus Quay, the Deaf Culture Centre and Citytv and OMNI Television at Yonge-Dundas Square.

PRESENTING COMPANIES

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Menkes Developments Ltd. is a fully integrated real estate company involved in the construction, ownership and management of office, industrial and residential properties. The company was founded in 1954 by Murray Menkes, who initially carried on business as a developer of single family homes. Over the years, the firm’s operations expanded significantly and branched out into other areas of real estate, and Menkes is now one of the largest private developers of residential, industrial and office properties in Canada. Today, Menkes continues to be owned and operated by the Menkes family.

Founded in 1993, Wildeboer Dellelce is one of Canada's largest standalone transactional securities and corporate finance law firms. Comparable to the corporate finance law departments of most national firms, Wildeboer Dellelce is relied upon by its clients for being innovative, pragmatic, accessible and responsive.

Dundee Realty Management Corporation provides real estate services – including property management and leasing – to more than 40 million square feet of office, industrial and retail properties across Canada. At sign-on and beyond, they follow through in meeting our tenants’ needs. They believe that reducing the time their tenants need to spend thinking about real estate leaves them more time to do what they do best – run their businesses.

PRESENTING COMPANIES

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Brookfield Financial is a global investment bank with expertise in real assets, particularly property, power, and infrastructure. Established with a clear mandate to operate independently, we are owned by Brookfield Asset Management, a global asset manager with over $175 billion of assets under management. Brookfield Financial provides its clients with unsurpassed transaction execution skills, access to financial capital and global opportunity, and, when needed, the resources and expertise of Brookfield Asset Management.

Brookfield Office Properties is a commercial real estate corporation that owns, manages, and develops premier assets in the world's most dynamic and resilient markets. The company's signature properties define the skylines of many major metropolises including New York, Washington, D.C., Houston, Los Angeles, Toronto, Calgary, London, Sydney and Perth. Brookfield Office Properties is a publicly traded company, and is listed under the ticker symbol BPO on both the New York and Toronto Stock Exchanges.

Mizrahi Developments is a prominent real estate development company, with a desire to enhance the changing streetscapes of Canada with carefully articulated, mid-to-high-rise residential, commercial, and retail buildings that give those who work and live in them as much pleasure as those who pass by their exteriors. They emphasize relationships with customers, architects, designers, local residents, city councillors and suppliers as the foundation of their work.

PRESENTING COMPANIES

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Skyline International Development Inc. (“Skyline”) is a private Canadian investment and management company incorporated on December 4, 1998. The company has key business segments in real estate: development of destination communities, and hotels and resorts. Skyline owns and manages marquee resorts and hospitality assets with substantial cash flow and sustainable profitability. They invest in hotels & resorts with sizable unleveraged land banks and significant mixed-use development opportunities. From a relatively humble beginning, Skyline has grown rapidly and has become a significant and recognized player in the Toronto, Quebec and central Canada real estate markets. Skyline has been fortunate to secure acquisition financing from many established lenders, including Credit Swiss First Boston, CDPQ/MCAP, HSBC Bank Canada, CIBC, Equitable Trust, Manulife, Community Trust, First National, ROI Capital, Romspen, BDC and Bank Hapoalim.

PRESENTING COMPANIES

Known as Canada’s Global Business School™, the Schulich School of Business in Toronto is ranked among the world’s leading business schools by a number of global surveys. Schulich’s MBA program is ranked #1 in the world by the Aspen Institute (a Washington, DC-based leadership think tank) in a global survey that identifies which schools are doing the best job of preparing future business leaders for the environmental, social and ethical complexities of modern-day business. Schulich’s MBA program is ranked #1 in Canada by Forbes, The Economist and Expansión (a Time Warner publication based in Mexico City). The Kellogg global network of EMBA partner schools, which includes the Kellogg- Schulich EMBA, is ranked #1 in the world by The Wall Street Journal, and the Kellogg-Schulich EMBA is ranked #1 in Canada by the Financial Times of London. Recanati Business School is a proud partner of the Schulich School of Business and part of the Kellogg School of Management’s global network.