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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.10 688.60 Td (2800 Post Oak Boulevard, Suite 5000) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.30 676.60 Td (Houston, ) Tj ET Q q 0 0 0 rg BT 289.24 676.60 Td (T) Tj ET Q q 0 0 0 rg BT 294.99 676.60 Td (exas 77056-61) Tj ET Q q 0 0 0 rg BT 353.60 676.60 Td (18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 179.60 652.60 Td (NOTICE OF) Tj ET Q q 0 0 0 rg BT 235.07 652.60 Td ( ) Tj ET Q q 0 0 0 rg BT 237.02 652.60 Td (ANNUAL) Tj ET Q q 0 0 0 rg BT 279.24 652.60 Td ( MEETING OF) Tj ET Q q 0 0 0 rg BT 346.10 652.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 360.65 652.60 Td (OCKHOLDERS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.70 640.60 Td (T) Tj ET Q q 0 0 0 rg BT 246.45 640.60 Td (o Be Held ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.62 640.60 Td (December) Tj ET Q q 0 0 0 rg BT 333.74 640.60 Td (14, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.24 640.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 616.60 Td (T) Tj ET Q q 0 0 0 rg BT 54.91 616.60 Td (o the stockholders of Hines Global REIT) Tj ET Q q 0 0 0 rg BT 218.03 616.60 Td (, Inc.:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 592.60 Td (I am pleased to invite our stockholders to the annual meeting of stockholders of Hines Global REIT) Tj ET Q q 0 0 0 rg BT 456.55 592.60 Td (, Inc. ) Tj ET Q q 0 0 0 rg BT 479.14 592.60 Td (The annual meeting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 580.60 Td (will be held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.21 580.60 Td (in the 2nd Floor Conference Center of ) Tj ET Q q 0 0 0 rg BT 254.27 580.60 Td (W) Tj ET Q q 0 0 0 rg BT 263.30 580.60 Td (illiams ) Tj ET Q q 0 0 0 rg BT 292.84 580.60 Td (T) Tj ET Q q 0 0 0 rg BT 298.25 580.60 Td (ower) Tj ET Q q 0 0 0 rg BT 317.84 580.60 Td (, 2800 Post Oak Boulevard, Houston, ) Tj ET Q q 0 0 0 rg BT 469.60 580.60 Td (T) Tj ET Q q 0 0 0 rg BT 475.01 580.60 Td (exas 77056) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.28 580.60 Td ( at 9:00 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 568.60 Td (a.m., local time, on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.92 568.60 Td (December14, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.51 568.60 Td (. ) Tj ET Q q 0 0 0 rg BT 211.96 568.60 Td (At the meeting, you will be asked to:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 544.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 544.60 Td (elect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.87 544.60 Td (seven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.64 544.60 Td ( directors for one-year terms expiring in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.08 544.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.08 544.60 Td (;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 520.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 520.60 Td (ratify the appointment of Deloitte & ) Tj ET Q q 0 0 0 rg BT 232.50 520.60 Td (T) Tj ET Q q 0 0 0 rg BT 237.91 520.60 Td (ouche LLP) Tj ET Q q 0 0 0 rg BT 281.70 520.60 Td ( as our independent registered public accounting firm; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 496.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 496.60 Td (conduct such other business as may properly come before the annual meeting or any adjournment thereof.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 472.60 Td (Our board of directors has fixed the close of business on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.50 472.60 Td (September16, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.76 472.60 Td ( as the record date for the determination of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 460.60 Td (stockholders entitled to notice of and to vote at the meeting or any adjournment thereof. Only record holders of common stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 448.60 Td (at the close of business on the record date are entitled to notice of, and to vote, at the annual meeting.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 424.60 Td (For) Tj ET Q q 0 0 0 rg BT 73.87 424.60 Td ( further) Tj ET Q q 0 0 0 rg BT 107.28 424.60 Td ( information r) Tj ET Q q 0 0 0 rg BT 167.65 424.60 Td (egarding the matters to be acted upon at the annual meeting, I urge you to car) Tj ET Q q 0 0 0 rg BT 500.22 424.60 Td (efully r) Tj ET Q q 0 0 0 rg BT 530.86 424.60 Td (ead the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 412.60 Td (accompanying pr) Tj ET Q q 0 0 0 rg BT 123.49 412.60 Td (oxy statement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.14 412.60 Td ( If you have questions about these proposals or would like additional copies of the proxy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 400.60 Td (statement, please contact: Hines Global REIT) Tj ET Q q 0 0 0 rg BT 231.48 400.60 Td (, Inc., ) Tj ET Q q 0 0 0 rg BT 256.19 400.60 Td (Attention: R) Tj ET Q q 0 0 0 rg BT 305.52 400.60 Td (yan ) Tj ET Q q 0 0 0 rg BT 322.27 400.60 Td (T) Tj ET Q q 0 0 0 rg BT 327.64 400.60 Td (. Sims, Chief Financial Of) Tj ET Q q 0 0 0 rg BT 432.45 400.60 Td (ficer and Secretary) Tj ET Q q 0 0 0 rg BT 507.31 400.60 Td (, 2800 Post ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 388.60 Td (Oak Boulevard, Suite 5000, Houston, ) Tj ET Q q 0 0 0 rg BT 202.08 388.60 Td (T) Tj ET Q q 0 0 0 rg BT 207.49 388.60 Td (exas 77056-61) Tj ET Q q 0 0 0 rg BT 265.72 388.60 Td (18 \(T) Tj ET Q q 0 0 0 rg BT 286.96 388.60 Td (elephone: \(888\) 220-6121\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 364.60 Td (Whether you own few shares or many shares and whether you plan to attend in person or not, it is important that your shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 352.60 Td (be voted on matters that come before the meeting. If you do not attend the meeting and vote in person, you may vote your ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 340.60 Td (shares by using a toll-free telephone number or the Internet. Instructions for using these convenient services are provided on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 328.60 Td (enclosed proxy card and in the attached proxy statement. If you prefer) Tj ET Q q 0 0 0 rg BT 329.54 328.60 Td (, you may vote your shares by marking your votes on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 316.60 Td (proxy card, signing and dating it, and mailing it in the envelope provided. If you sign and return your proxy card without ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 304.60 Td (specifying your choices, it will be understood that you wish to have your shares voted in accordance with the directors) Tj ET Q q 0 0 0 rg BT 525.85 304.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 292.60 Td (recommendations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 268.60 Td (Y) Tj ET Q q 0 0 0 rg BT 64.72 268.60 Td (ou are cordially invited to attend the annual meeting. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 244.60 Td (Y) Tj ET Q q 0 0 0 rg BT 64.72 244.60 Td (our vote is important.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.00 224.22 Td (By Order of the Board of Directors,) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.00 169.67 Td (Jeffrey C. Hines) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.00 155.67 Td (Chairman) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 139.60 Td (Houston, ) Tj ET Q q 0 0 0 rg BT 88.21 139.60 Td (T) Tj ET Q q 0 0 0 rg BT 93.62 139.60 Td (exas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 127.60 Td (July 19, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.67 127.60 Td ( ) Tj ET Q /GS0 gs q 142.04 0 0 34.00 348.00 182.62 cm /I13 Do Q endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.40 742.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 280.77 742.25 Td (oxy Statement) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 252.65 718.25 Td (T) Tj ET Q q 0 0 0 rg BT 258.58 718.25 Td (ABLE OF) Tj ET Q q 0 0 0 rg BT 301.82 718.25 Td ( CONTENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 686.32 Td (INTRODUCTION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 672.32 Td (INFORMATION ABOUT THE MEETING AND VOTING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 658.32 Td (PROPOSAL ONE: ELECTION OF DIRECTORS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 644.32 Td (General) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 630.32 Td (Nominees for the Board of Directors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 616.32 Td (CORPORATE GOVERNANCE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 602.32 Td (Audit Committee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 588.32 Td (Nominating and Corporate Governance Committee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 574.32 Td (Conflicts Committee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 560.32 Td (Compensation Committee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 546.32 Td (Code of Business Conduct and Ethics) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 532.32 Td (Compensation Committee Interlocks and Insider Participation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 518.32 Td (Board Leadership Structure and Role in Risk Oversight) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 504.32 Td (DIRECTOR COMPENSATION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 490.32 Td (EXECUTIVE OFFICERS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 476.32 Td (EXECUTIVE COMPENSATION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 461.42 Td (STOCK OWNERSHIP BY DIRECTORS, EXECUTIVE OFFICERS AND CERTAIN STOCKHOLDERS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 447.32 Td (Ownership) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 433.32 Td (Section 16\(a\) Beneficial Ownership Reporting Compliance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 419.32 Td (CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 405.32 Td (Our Advisor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 391.32 Td (Hines) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 377.32 Td (Ownership Interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 363.32 Td (Policies and Procedures for Review of Related Party Transactions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 349.32 Td (PROPOSAL TWO: RELATIONSHIP WITH INDEPENDENT REGISTERED PUBLIC ACCOUNTING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 339.32 Td (FIRM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 325.32 Td (Fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 311.32 Td (Pre-approval Policies and Procedures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 297.32 Td (AUDIT COMMITTEE REPORT) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 283.32 Td (RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 273.32 Td (FIRM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 259.32 Td (OTHER MATTERS PRESENTED FOR ACTION AT THE 2016 ANNUAL MEETING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 245.32 Td (STOCKHOLDER PROPOSALS FOR THE 2017 ANNUAL MEETING) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.00 686.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.00 672.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.00 658.32 Td (4) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.00 644.32 Td (4) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.00 630.32 Td (5) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.35 616.32 Td (1) Tj ET Q q 0 0 0 rg BT 552.98 616.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 602.32 Td (12) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 588.32 Td (13) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 574.32 Td (14) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 560.32 Td (14) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 546.32 Td (14) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 532.32 Td (14) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 518.32 Td (15) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 504.32 Td (15) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 490.32 Td (16) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 476.32 Td (20) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 461.42 Td (21) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 447.32 Td (21) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 433.32 Td (22) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 419.32 Td (22) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 405.32 Td (22) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 391.32 Td (24) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 377.32 Td (25) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 363.32 Td (25) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 339.42 Td (27) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 325.32 Td (27) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 311.32 Td (27) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 297.32 Td (28) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 273.42 Td (29) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 259.32 Td (29) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 245.32 Td (30) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (1) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 245.35 740.90 Td (Hines Global REIT) Tj ET Q q 0 0 0 rg BT 340.93 740.90 Td (, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.10 728.90 Td (2800 Post Oak Boulevard, Suite 5000) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.30 716.90 Td (Houston, ) Tj ET Q q 0 0 0 rg BT 289.24 716.90 Td (T) Tj ET Q q 0 0 0 rg BT 294.99 716.90 Td (exas 77056-61) Tj ET Q q 0 0 0 rg BT 353.60 716.90 Td (18) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 246.70 690.50 Td (PROXY) Tj ET Q q 0 0 0 rg BT 288.92 690.50 Td ( ST) Tj ET Q q 0 0 0 rg BT 305.70 690.50 Td (A) Tj ET Q q 0 0 0 rg BT 313.48 690.50 Td (TEMENT) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.95 666.50 Td (INTRODUCTION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 642.50 Td (The accompanying proxy) Tj ET Q q 0 0 0 rg BT 160.54 642.50 Td (, mailed together with this proxy statement, is solicited by and on behalf of the board of directors of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 630.50 Td (Hines Global REIT) Tj ET Q q 0 0 0 rg BT 127.02 630.50 Td (, Inc. \(which we refer to in this proxy statement as Hines Global or the Company\) for use at the annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 618.50 Td (meeting of our stockholders and at any adjournment or postponement thereof. References in this proxy statement to we, us, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 606.50 Td (our or like terms also refer to the Company) Tj ET Q q 0 0 0 rg BT 230.96 606.50 Td (. ) Tj ET Q q 0 0 0 rg BT 235.78 606.50 Td (The mailing address of our principal executive of) Tj ET Q q 0 0 0 rg BT 433.03 606.50 Td (fices is 2800 Post Oak ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 594.50 Td (Boulevard, Suite 5000, Houston, ) Tj ET Q q 0 0 0 rg BT 183.42 594.50 Td (T) Tj ET Q q 0 0 0 rg BT 188.83 594.50 Td (exas 77056-61) Tj ET Q q 0 0 0 rg BT 247.06 594.50 Td (18. ) Tj ET Q q 0 0 0 rg BT 261.88 594.50 Td (W) Tj ET Q q 0 0 0 rg BT 270.52 594.50 Td (e expect to mail this proxy statement and the accompanying proxy card ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 582.50 Td (to our stockholders on or about ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.20 582.50 Td (September23, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.47 582.50 Td (. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.52 582.50 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.52 582.50 Td ( ) Tj ET Q q 0 0 0 rg BT 302.47 582.50 Td (Annual Report to Stockholders was mailed on or about ) Tj ET Q q 0 0 0 rg BT 524.38 582.50 Td (April29, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 570.50 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 570.50 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.00 546.50 Td (Important Notice Regarding ) Tj ET Q q 0 0 0 rg BT 182.60 546.50 Td (A) Tj ET Q q 0 0 0 rg BT 189.08 546.50 Td (vailability of Pr) Tj ET Q q 0 0 0 rg BT 255.56 546.50 Td (oxy Materials) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.00 522.50 Td (This pr) Tj ET Q q 0 0 0 rg BT 90.22 522.50 Td (oxy statement, the form of pr) Tj ET Q q 0 0 0 rg BT 214.45 522.50 Td (oxy card, our) Tj ET Q q 0 0 0 rg BT 271.21 522.50 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.71 522.50 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 293.71 522.50 Td ( ) Tj ET Q q 0 0 0 rg BT 295.66 522.50 Td (Annual Report to Stockholders and our) Tj ET Q q 0 0 0 rg BT 464.66 522.50 Td ( annual r) Tj ET Q q 0 0 0 rg BT 503.38 522.50 Td (eport on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 510.50 Td (Form 10-K for) Tj ET Q q 0 0 0 rg BT 112.57 510.50 Td ( the year) Tj ET Q q 0 0 0 rg BT 149.60 510.50 Td ( ended December) Tj ET Q q 0 0 0 rg BT 223.29 510.50 Td ( 31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.79 510.50 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.79 510.50 Td (, ar) Tj ET Q q 0 0 0 rg BT 275.04 510.50 Td (e available in the SEC Filings section of our) Tj ET Q q 0 0 0 rg BT 460.42 510.50 Td ( website at) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.42 510.50 Td ( http://) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 498.50 Td (www) Tj ET Q q 0 0 0 rg BT 69.64 498.50 Td (.hinessecurities.com/reits/hines-global-reit/sec-filings/.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.92 498.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 474.50 Td (Stockholders may also obtain a copy of these materials by writing to Hines Global REIT) Tj ET Q q 0 0 0 rg BT 412.63 474.50 Td (, Inc., ) Tj ET Q q 0 0 0 rg BT 437.34 474.50 Td (Attention: R) Tj ET Q q 0 0 0 rg BT 486.67 474.50 Td (yan ) Tj ET Q q 0 0 0 rg BT 503.42 474.50 Td (T) Tj ET Q q 0 0 0 rg BT 508.79 474.50 Td (. Sims, Chief ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 462.50 Td (Financial Of) Tj ET Q q 0 0 0 rg BT 100.08 462.50 Td (ficer and Secretary) Tj ET Q q 0 0 0 rg BT 174.94 462.50 Td (. Upon payment of a reasonable fee, stockholders may also obtain a copy of the exhibits to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 450.50 Td (Annual Report on Form 10-K for the year ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.92 450.50 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.92 450.50 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 184.65 426.50 Td (INFORMA) Tj ET Q q 0 0 0 rg BT 232.79 426.50 Td (TION ) Tj ET Q q 0 0 0 rg BT 260.30 426.50 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 295.68 426.50 Td ( ) Tj ET Q q 0 0 0 rg BT 298.00 426.50 Td (THE MEETING ) Tj ET Q q 0 0 0 rg BT 371.91 426.50 Td (AND ) Tj ET Q q 0 0 0 rg BT 395.89 426.50 Td (V) Tj ET Q q 0 0 0 rg BT 402.91 426.50 Td (OTING) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 402.50 Td (What is the date of the annual meeting and wher) Tj ET Q q 0 0 0 rg BT 257.32 402.50 Td (e will it be held?) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 378.50 Td (Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.05 378.50 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.05 378.50 Td ( annual meeting of stockholders will be held on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.51 378.50 Td (December14, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.09 378.50 Td (, at 9:00 a.m., local time. ) Tj ET Q q 0 0 0 rg BT 469.83 378.50 Td (The meeting will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.50 Td (held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.72 366.50 Td (in the 2nd Floor Conference Center of ) Tj ET Q q 0 0 0 rg BT 224.77 366.50 Td (W) Tj ET Q q 0 0 0 rg BT 233.81 366.50 Td (illiams ) Tj ET Q q 0 0 0 rg BT 263.35 366.50 Td (T) Tj ET Q q 0 0 0 rg BT 268.76 366.50 Td (ower) Tj ET Q q 0 0 0 rg BT 288.35 366.50 Td (, 2800 Post Oak Boulevard, Houston, ) Tj ET Q q 0 0 0 rg BT 440.11 366.50 Td (T) Tj ET Q q 0 0 0 rg BT 445.52 366.50 Td (exas 77056) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.79 366.50 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 342.50 Td (What will I be voting on at the meeting?) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 318.50 Td (At the meeting, you will be asked to:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 294.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 294.50 Td (elect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.37 294.50 Td (seven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.14 294.50 Td ( directors for one-year terms expiring in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.58 294.50 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.58 294.50 Td (;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 270.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 270.50 Td (ratify the appointment of Deloitte & ) Tj ET Q q 0 0 0 rg BT 233.00 270.50 Td (T) Tj ET Q q 0 0 0 rg BT 238.41 270.50 Td (ouche LLP) Tj ET Q q 0 0 0 rg BT 282.20 270.50 Td ( as our independent registered public accounting firm; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 246.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 246.50 Td (conduct such other business as may properly come before the annual meeting or any adjournment thereof.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 222.50 Td (Our board of directors does not know of any matters that may be acted upon at the meeting other than the matters set forth in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.50 Td (the bullets listed above.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 186.50 Td (Who can vote at the meeting?) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 162.50 Td (The record date for the determination of holders of our common shares entitled to notice of and to vote at the meeting, or any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.50 Td (adjournment or postponement of the meeting, is the close of business on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.89 150.50 Td (September16, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.15 150.50 Td (. Each holder of our common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.50 Td (shares issued and outstanding as of the record date is entitled to vote at the meeting. ) Tj ET Q q 0 0 0 rg BT 387.41 138.50 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.86 138.50 Td (July1, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.03 138.50 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.03 138.50 Td (275.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.92 138.50 Td ( shares of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.50 Td (our common stock were outstanding.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 102.50 Td (How many votes do I have?) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 78.50 Td (Each share of our common stock has one vote on each matter considered at the meeting or any adjournment thereof. ) Tj ET Q q 0 0 0 rg BT 525.60 78.50 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 66.50 Td (enclosed proxy card shows the number of common shares you are entitled to vote.) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (How can I vote?) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 718.25 Td (Y) Tj ET Q q 0 0 0 rg BT 65.22 718.25 Td (ou may vote in person at the meeting or by proxy) Tj ET Q q 0 0 0 rg BT 261.75 718.25 Td (. Stockholders have the following three options for submitting their votes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (by proxy:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 682.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.25 Td (via the Internet at http://www) Tj ET Q q 0 0 0 rg BT 203.65 682.25 Td (.cesvote.com;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 658.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.25 Td (by telephone, by calling toll free 1-888-693-8683; or) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 634.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.25 Td (by mail, by completing, signing, dating and returning your proxy card in the enclosed envelope.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 610.25 Td (For those stockholders with Internet access, we encourage you to vote via the Internet, a convenient means of voting that also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (provides cost savings to us. In addition, when you vote via the Internet or by phone prior to the meeting date, your vote is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (recorded immediately and there is no risk that postal delays will cause your vote to arrive late and, therefore, not be counted. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (For further instructions on voting and the control number required to submit your vote via the Internet or by phone, see your ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (proxy card enclosed with this proxy statement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 538.25 Td (If your shares of common stock are held in an account by a bank, broker) Tj ET Q q 0 0 0 rg BT 348.22 538.25 Td (, or other nominee on your behalf, you may receive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (instructions from your bank, broker) Tj ET Q q 0 0 0 rg BT 192.07 526.25 Td (, or other nominee describing how to vote your shares. ) Tj ET Q q 0 0 0 rg BT 414.52 526.25 Td (A) Tj ET Q q 0 0 0 rg BT 421.19 526.25 Td ( number of banks and brokerage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (firms participate in a program that also permits stockholders to direct their vote by the Internet or telephone. ) Tj ET Q q 0 0 0 rg BT 484.96 514.25 Td (This option is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (separate from that of) Tj ET Q q 0 0 0 rg BT 132.84 502.25 Td (fered by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.32 502.25 Td (Alliance ) Tj ET Q q 0 0 0 rg BT 206.14 502.25 Td (Advisors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.26 502.25 Td (, the firm we have retained to aid in the solicitation process, and should be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (reflected on the voting form from a bank or brokerage firm that accompanies this proxy statement. If your shares are held in an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (account at a bank or brokerage firm that participates in such a program, you may direct the vote of these shares by the Internet ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (or telephone by following the instructions on the voting form enclosed with the proxy from the bank or brokerage firm. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (Directing the voting of your shares will not af) Tj ET Q q 0 0 0 rg BT 233.11 454.25 Td (fect your right to vote in person if you decide to attend the annual meeting. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 430.25 Td (Y) Tj ET Q q 0 0 0 rg BT 65.22 430.25 Td (ou also may vote your shares at the meeting. If you attend the annual meeting, you may submit your vote in person, and any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (previous votes that you submitted, whether by Internet, phone or mail, will be superseded by the vote that you cast at the annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (meeting. ) Tj ET Q q 0 0 0 rg BT 87.03 406.25 Td (T) Tj ET Q q 0 0 0 rg BT 92.44 406.25 Td (o obtain directions to be able to attend the meeting and vote in person, contact Hines Global REIT) Tj ET Q q 0 0 0 rg BT 484.93 406.25 Td ( Investor Relations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (at \(888\) 220-6121.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (How will pr) Tj ET Q q 0 0 0 rg BT 100.38 370.25 Td (oxies be voted?) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 346.25 Td (Shares represented by valid proxies will be voted at the meeting in accordance with the directions given. If the enclosed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (proxy card is signed and returned without any directions given, the shares will be voted ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.13 334.25 Td (for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.90 334.25 Td ( election of the nominees for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (director named in the proxy and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 180.51 322.25 Td (for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.28 322.25 Td ( the ratification of the appointment of Deloitte & ) Tj ET Q q 0 0 0 rg BT 400.54 322.25 Td (T) Tj ET Q q 0 0 0 rg BT 405.95 322.25 Td (ouche LLP) Tj ET Q q 0 0 0 rg BT 449.74 322.25 Td ( as our independent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (registered public accounting firm.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 286.25 Td (The board of directors does not intend to present, and has no information indicating that others will present, any business at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (the annual meeting other than as set forth in the attached Notice of ) Tj ET Q q 0 0 0 rg BT 317.96 274.25 Td (Annual Meeting of Stockholders. However) Tj ET Q q 0 0 0 rg BT 490.02 274.25 Td (, if other matters ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (requiring the vote of our stockholders come before the meeting, it is the intention of the persons named in the accompanying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (proxy card to vote the proxies held by them in accordance with their discretion on such matters.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (How can I change my vote or) Tj ET Q q 0 0 0 rg BT 174.25 226.25 Td ( r) Tj ET Q q 0 0 0 rg BT 181.01 226.25 Td (evoke a pr) Tj ET Q q 0 0 0 rg BT 225.26 226.25 Td (oxy?) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 202.25 Td (Y) Tj ET Q q 0 0 0 rg BT 65.22 202.25 Td (ou have the unconditional right to revoke your proxy at any time prior to the voting thereof by submitting a later) Tj ET Q q 0 0 0 rg BT 514.36 202.25 Td (-dated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (proxy \(either in the mail, or by telephone or the Internet\), by attending the meeting and voting in person or by written notice to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (us addressed to: Hines Global REIT) Tj ET Q q 0 0 0 rg BT 193.40 178.25 Td (, Inc., ) Tj ET Q q 0 0 0 rg BT 218.12 178.25 Td (Attention: R) Tj ET Q q 0 0 0 rg BT 267.44 178.25 Td (yan ) Tj ET Q q 0 0 0 rg BT 284.19 178.25 Td (T) Tj ET Q q 0 0 0 rg BT 289.56 178.25 Td (. Sims, Chief Financial Of) Tj ET Q q 0 0 0 rg BT 394.37 178.25 Td (ficer and Secretary) Tj ET Q q 0 0 0 rg BT 469.23 178.25 Td (, 2800 Post Oak ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (Boulevard, Suite 5000, Houston, ) Tj ET Q q 0 0 0 rg BT 183.42 166.25 Td (T) Tj ET Q q 0 0 0 rg BT 188.83 166.25 Td (exas 77056-61) Tj ET Q q 0 0 0 rg BT 247.06 166.25 Td (18. No written revocation shall be ef) Tj ET Q q 0 0 0 rg BT 393.22 166.25 Td (fective, however) Tj ET Q q 0 0 0 rg BT 459.45 166.25 Td (, unless and until it is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (received by us at or prior to the meeting.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (What if I r) Tj ET Q q 0 0 0 rg BT 95.65 130.25 Td (eturn my pr) Tj ET Q q 0 0 0 rg BT 147.13 130.25 Td (oxy but do not mark it to show how I am voting?) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 106.25 Td (If your proxy card is signed and returned without specifying your choices, your shares will be voted as recommended by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (board of directors.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (What ar) Tj ET Q q 0 0 0 rg BT 85.65 70.25 Td (e the board) Tj ET Q q 0 0 0 rg BT 136.94 70.25 Td (s r) Tj ET Q q 0 0 0 rg BT 147.59 70.25 Td (ecommendations?) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 46.25 Td (The board of directors recommends that you vote ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.94 46.25 Td (for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.71 46.25 Td ( Proposals 1 and 2. ) Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (What vote is r) Tj ET Q q 0 0 0 rg BT 110.09 730.10 Td (equir) Tj ET Q q 0 0 0 rg BT 132.69 730.10 Td (ed to appr) Tj ET Q q 0 0 0 rg BT 176.40 730.10 Td (ove each pr) Tj ET Q q 0 0 0 rg BT 225.09 730.10 Td (oposal?) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 59.00 706.10 Td (Election of Dir) Tj ET Q q 0 0 0 rg BT 118.62 706.10 Td (ectors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.56 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 147.88 706.10 Td (There is no cumulative voting in the election of our directors. Each director is elected by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 694.10 Td (firmative vote of holders of a majority of the shares of our common stock represented in person or by proxy at the meeting. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Any shares not voted \(whether by abstention, withholding authority or broker non-vote\) will have the ef) Tj ET Q q 0 0 0 rg BT 465.83 682.10 Td (fect of votes against the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (election of nominees to our board of directors.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 59.00 646.10 Td (Ratification of ) Tj ET Q q 0 0 0 rg BT 118.81 646.10 Td (Appointment of Independent ) Tj ET Q q 0 0 0 rg BT 234.44 646.10 Td (Auditors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.39 646.10 Td ( ) Tj ET Q q 0 0 0 rg BT 273.71 646.10 Td (This proposal requires the af) Tj ET Q q 0 0 0 rg BT 387.94 646.10 Td (firmative vote of a majority of the votes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (cast at the meeting. ) Tj ET Q q 0 0 0 rg BT 129.14 634.10 Td (Any shares not voted \(whether by abstention, broker non-vote, or otherwise\) have no impact on the vote.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (What constitutes a quorum?) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 586.10 Td (The presence at the meeting, in person or represented by proxy) Tj ET Q q 0 0 0 rg BT 310.20 586.10 Td (, of the holders entitled to cast at least 50 percent of all of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (votes entitled to be cast at the meeting constitutes a quorum. ) Tj ET Q q 0 0 0 rg BT 293.28 574.10 Td (Abstentions and broker non-votes will be counted as present for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (the purpose of establishing a quorum; however) Tj ET Q q 0 0 0 rg BT 237.33 562.10 Td (, abstentions and broker non-votes will not be counted as votes cast.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.82 538.10 Td (ill you incur) Tj ET Q q 0 0 0 rg BT 111.31 538.10 Td ( expenses in soliciting pr) Tj ET Q q 0 0 0 rg BT 215.03 538.10 Td (oxies?) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 514.10 Td (W) Tj ET Q q 0 0 0 rg BT 67.64 514.10 Td (e will bear all costs associated with soliciting proxies for the meeting. Solicitations may be made on behalf of our board of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (directors by mail, personal interview) Tj ET Q q 0 0 0 rg BT 196.25 502.10 Td (, telephone or other electronic means by our of) Tj ET Q q 0 0 0 rg BT 382.94 502.10 Td (ficers and other employees of Hines Global ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (REIT) Tj ET Q q 0 0 0 rg BT 72.04 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 73.98 490.10 Td (Advisors LP) Tj ET Q q 0 0 0 rg BT 123.90 490.10 Td ( \(our Advisor\), who will receive no additional compensation. ) Tj ET Q q 0 0 0 rg BT 379.48 490.10 Td (W) Tj ET Q q 0 0 0 rg BT 388.12 490.10 Td (e have retained ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.58 490.10 Td (Alliance ) Tj ET Q q 0 0 0 rg BT 486.40 490.10 Td (Advisors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.51 490.10 Td ( to aid in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (the solicitation of proxies. ) Tj ET Q q 0 0 0 rg BT 156.74 478.10 Td (W) Tj ET Q q 0 0 0 rg BT 165.38 478.10 Td (e will pay ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.76 478.10 Td (Alliance ) Tj ET Q q 0 0 0 rg BT 242.58 478.10 Td (Advisors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.70 478.10 Td ( a fee of approximately $5,000 in addition to variable costs related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (the solicitation of proxies as well as reimbursement of its out-of-pocket expenses. ) Tj ET Q q 0 0 0 rg BT 378.90 466.10 Td (W) Tj ET Q q 0 0 0 rg BT 387.54 466.10 Td (e will request that certain banks, brokers, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (custodians, nominees, fiduciaries and other record holders forward copies of the proxy materials to people on whose behalf ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (they hold shares of common stock and request authority for the exercise of proxies by the record holders on behalf of those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (people, if necessary) Tj ET Q q 0 0 0 rg BT 128.48 430.10 Td (. In compliance with the regulations of the Securities and Exchange Commission \(the SEC\), we will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (reimburse such persons for reasonable expenses incurred by them in forwarding proxy materials to the beneficial owners of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (common stock.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (What does it mean if I r) Tj ET Q q 0 0 0 rg BT 151.48 382.10 Td (eceive mor) Tj ET Q q 0 0 0 rg BT 197.10 382.10 Td (e than one pr) Tj ET Q q 0 0 0 rg BT 253.31 382.10 Td (oxy card?) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 358.10 Td (Some of your shares may be registered dif) Tj ET Q q 0 0 0 rg BT 227.94 358.10 Td (ferently or held in dif) Tj ET Q q 0 0 0 rg BT 313.28 358.10 Td (ferent accounts. ) Tj ET Q q 0 0 0 rg BT 378.71 358.10 Td (Y) Tj ET Q q 0 0 0 rg BT 384.93 358.10 Td (ou should vote each of your accounts by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (telephone, the Internet or mail. If you mail proxy cards, please sign, date and return each proxy card to guarantee that all of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (your shares are voted. If you hold your shares in registered form and wish to combine your stockholder accounts in the future, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (you should contact Hines Global REIT) Tj ET Q q 0 0 0 rg BT 205.63 322.10 Td ( Investor Relations at 2800 Post Oak Boulevard, Suite 5000, Houston, ) Tj ET Q q 0 0 0 rg BT 488.20 322.10 Td (T) Tj ET Q q 0 0 0 rg BT 493.61 322.10 Td (exas 77056-61) Tj ET Q q 0 0 0 rg BT 551.84 322.10 Td (18 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (or call us at \(888\) 220-6121. Combining accounts reduces excess printing and mailing costs, resulting in cost savings to us that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (benefit you as a stockholder) Tj ET Q q 0 0 0 rg BT 161.64 298.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (What if I r) Tj ET Q q 0 0 0 rg BT 95.65 274.10 Td (eceive only one set of pr) Tj ET Q q 0 0 0 rg BT 196.83 274.10 Td (oxy materials although ther) Tj ET Q q 0 0 0 rg BT 314.70 274.10 Td (e ar) Tj ET Q q 0 0 0 rg BT 330.89 274.10 Td (e multiple stockholders at my addr) Tj ET Q q 0 0 0 rg BT 479.32 274.10 Td (ess?) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 250.10 Td (The SEC has adopted a rule concerning the delivery of documents filed by us with the SEC, including proxy statements and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (annual reports to stockholders. ) Tj ET Q q 0 0 0 rg BT 175.07 238.10 Td (The rule allows us to, with the consent of af) Tj ET Q q 0 0 0 rg BT 350.40 238.10 Td (fected stockholders, send a single set of any annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (report, proxy statement, proxy statement combined with a prospectus or information statement to any household at which two ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (or more stockholders reside if they share the same last name or we reasonably believe they are members of the same family) Tj ET Q q 0 0 0 rg BT 543.33 214.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (This procedure is referred to as Householding. ) Tj ET Q q 0 0 0 rg BT 246.97 202.10 Td (This rule benefits both you and us. It reduces the volume of duplicate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (information received at your household and helps us reduce expenses. Each stockholder subject to Householding will continue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (to receive a separate proxy card or voting instruction card.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 154.10 Td (W) Tj ET Q q 0 0 0 rg BT 67.64 154.10 Td (e will promptly deliver) Tj ET Q q 0 0 0 rg BT 159.16 154.10 Td (, upon written or oral request, a separate copy of our annual report or proxy statement, as applicable, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (to a stockholder at a shared address to which a single copy was previously delivered. If you received a single set of disclosure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (documents for this year) Tj ET Q q 0 0 0 rg BT 143.74 130.10 Td (, but you would prefer to receive your own copy) Tj ET Q q 0 0 0 rg BT 336.37 130.10 Td (, you may direct requests for separate copies to Hines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (Global REIT) Tj ET Q q 0 0 0 rg BT 101.75 118.10 Td ( Investor Relations at 2800 Post Oak Boulevard, Suite 5000, Houston, ) Tj ET Q q 0 0 0 rg BT 384.33 118.10 Td (T) Tj ET Q q 0 0 0 rg BT 389.74 118.10 Td (exas 77056-61) Tj ET Q q 0 0 0 rg BT 447.96 118.10 Td (18 or call us at \(888\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (220-6121. Likewise, if your household currently receives multiple copies of disclosure documents and you would like to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (receive one set, please contact Hines Global REIT) Tj ET Q q 0 0 0 rg BT 250.85 94.10 Td ( Investor Relations.) Tj ET Q endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (How do I submit a stockholder) Tj ET Q q 0 0 0 rg BT 181.23 742.25 Td ( pr) Tj ET Q q 0 0 0 rg BT 193.54 742.25 Td (oposal for) Tj ET Q q 0 0 0 rg BT 235.86 742.25 Td ( next year) Tj ET Q q 0 0 0 rg BT 278.25 742.25 Td () Tj ET Q q 0 0 0 rg BT 281.21 742.25 Td (s annual meeting or) Tj ET Q q 0 0 0 rg BT 365.20 742.25 Td ( pr) Tj ET Q q 0 0 0 rg BT 377.52 742.25 Td (oxy materials, and what is the deadline for) Tj ET Q q 0 0 0 rg BT 558.45 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (submitting a pr) Tj ET Q q 0 0 0 rg BT 115.94 730.25 Td (oposal?) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 706.25 Td (In accordance with Rule 14a-8 under the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 307.52 706.25 Td (Act of 1934, as amended \(the Exchange ) Tj ET Q q 0 0 0 rg BT 473.57 706.25 Td (Act\), if you wish to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (present a proposal for inclusion in the proxy material for next year) Tj ET Q q 0 0 0 rg BT 316.12 694.25 Td () Tj ET Q q 0 0 0 rg BT 318.90 694.25 Td (s annual meeting, we must receive written notice of your ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (proposal for inclusion in the proxy material for next year) Tj ET Q q 0 0 0 rg BT 277.80 682.25 Td () Tj ET Q q 0 0 0 rg BT 280.58 682.25 Td (s annual meeting, we must receive written notice of your proposal at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (our executive of) Tj ET Q q 0 0 0 rg BT 114.79 670.25 Td (fices no later than May 26, 2017. ) Tj ET Q q 0 0 0 rg BT 251.43 670.25 Td (Any such proposal must meet the requirements set forth in the rules and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (regulations of the SEC in order to be eligible for inclusion in the proxy materials for our 2017 annual meeting. For any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (proposal that is not submitted for inclusion in the proxy materials for the 2017 annual meeting but is instead sought to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (presented directly at the meeting, Rule 14a-4\(c\) under the Exchange ) Tj ET Q q 0 0 0 rg BT 324.61 634.25 Td (Act permits our management to exercise discretionary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (voting authority under proxies we solicit unless we receive timely notice of the proposal in accordance with the procedures set ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (forth in our bylaws. Pursuant to our bylaws, in order for a stockholder proposal to be properly submitted for presentation at our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 598.25 Td ( annual meeting, we must receive written notice of the proposal at our executive of) Tj ET Q q 0 0 0 rg BT 401.09 598.25 Td (fices during the period beginning on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (May26, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.83 586.25 Td ( and ending on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.49 586.25 Td (June25, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.32 586.25 Td (. ) Tj ET Q q 0 0 0 rg BT 230.26 586.25 Td (All proposals must contain the information specified in, and otherwise comply ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (with, our bylaws. Proposals should be sent via registered, certified or express mail to: Hines Global REIT) Tj ET Q q 0 0 0 rg BT 471.67 574.25 Td (, Inc., 2800 Post Oak ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (Boulevard, Suite 5000, Houston, ) Tj ET Q q 0 0 0 rg BT 183.42 562.25 Td (T) Tj ET Q q 0 0 0 rg BT 188.83 562.25 Td (exas 77056-61) Tj ET Q q 0 0 0 rg BT 247.06 562.25 Td (18, ) Tj ET Q q 0 0 0 rg BT 261.51 562.25 Td (Attention: R) Tj ET Q q 0 0 0 rg BT 310.83 562.25 Td (yan ) Tj ET Q q 0 0 0 rg BT 327.59 562.25 Td (T) Tj ET Q q 0 0 0 rg BT 332.95 562.25 Td (. Sims, Chief Financial Of) Tj ET Q q 0 0 0 rg BT 437.76 562.25 Td (ficer and Secretary) Tj ET Q q 0 0 0 rg BT 512.62 562.25 Td (. For ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (additional information, see the section in this proxy statement captioned Stockholder Proposals for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.29 550.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.29 550.25 Td ( ) Tj ET Q q 0 0 0 rg BT 488.24 550.25 Td (Annual Meeting.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.30 526.25 Td (PROPOSAL) Tj ET Q q 0 0 0 rg BT 319.20 526.25 Td ( ONE:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.70 514.25 Td (ELECTION OF) Tj ET Q q 0 0 0 rg BT 309.51 514.25 Td ( DIRECT) Tj ET Q q 0 0 0 rg BT 350.72 514.25 Td (ORS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (General) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 466.25 Td (Our board of directors ultimately is responsible for the management and control of our business and operations. ) Tj ET Q q 0 0 0 rg BT 507.59 466.25 Td (W) Tj ET Q q 0 0 0 rg BT 516.23 466.25 Td (e have no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (employees and have retained our ) Tj ET Q q 0 0 0 rg BT 183.56 454.25 Td (Advisor to manage our day-to-day operations, including the acquisition of our properties. ) Tj ET Q q 0 0 0 rg BT 543.29 454.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (Advisor is an af) Tj ET Q q 0 0 0 rg BT 113.42 442.25 Td (filiate of our sponsor) Tj ET Q q 0 0 0 rg BT 196.61 442.25 Td (, Hines Interests Limited Partnership \(Hines\). Our board of directors, especially our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (independent directors, is responsible for monitoring and supervising our ) Tj ET Q q 0 0 0 rg BT 340.50 430.25 Td (Advisor) Tj ET Q q 0 0 0 rg BT 373.10 430.25 Td () Tj ET Q q 0 0 0 rg BT 375.87 430.25 Td (s conduct of our day-to-day operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 406.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 76.50 406.25 Td (Articles of ) Tj ET Q q 0 0 0 rg BT 120.93 406.25 Td (Amendment and Restatement \(our Charter\) and bylaws provide for a board of directors with no fewer than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (three and no more than ten directors, a majority of whom must be independent. ) Tj ET Q q 0 0 0 rg BT 368.25 394.25 Td (An independent director is defined under our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (Charter and means a person who is not, and within the last two years has not been, directly or indirectly associated with Hines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (or our ) Tj ET Q q 0 0 0 rg BT 76.11 370.25 Td (Advisor by virtue of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 346.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 346.25 Td (ownership of an interest in Hines, our ) Tj ET Q q 0 0 0 rg BT 238.75 346.25 Td (Advisor or their af) Tj ET Q q 0 0 0 rg BT 312.71 346.25 Td (filiates, other than the Company or any af) Tj ET Q q 0 0 0 rg BT 479.15 346.25 Td (filiate with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 334.25 Td (securities registered under the Exchange ) Tj ET Q q 0 0 0 rg BT 249.54 334.25 Td (Act;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 310.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 310.25 Td (employment by \(or service as an of) Tj ET Q q 0 0 0 rg BT 226.88 310.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 244.80 310.25 Td (, trust manager or director of\) Hines, our ) Tj ET Q q 0 0 0 rg BT 409.19 310.25 Td (Advisor or their af) Tj ET Q q 0 0 0 rg BT 483.16 310.25 Td (filiates, other than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 298.25 Td (service as a director for us or any af) Tj ET Q q 0 0 0 rg BT 229.09 298.25 Td (filiate with securities registered under the Exchange ) Tj ET Q q 0 0 0 rg BT 438.73 298.25 Td (Act;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 274.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 274.25 Td (performance of services, other than as a director) Tj ET Q q 0 0 0 rg BT 278.29 274.25 Td (, for us or any af) Tj ET Q q 0 0 0 rg BT 344.19 274.25 Td (filiate with securities registered under the Exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 262.25 Td (Act;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 238.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 238.25 Td (service as a director) Tj ET Q q 0 0 0 rg BT 165.28 238.25 Td (, trust manager or trustee of more than three real estate investment trusts advised by our ) Tj ET Q q 0 0 0 rg BT 517.67 238.25 Td (Advisor or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 226.25 Td (or) Tj ET Q q 0 0 0 rg BT 94.15 226.25 Td (ganized by Hines; or) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 202.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 202.25 Td (maintenance of a material business or professional relationship with Hines, our ) Tj ET Q q 0 0 0 rg BT 404.25 202.25 Td (Advisor or any of their af) Tj ET Q q 0 0 0 rg BT 505.99 202.25 Td (filiates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 178.25 Td (An independent director cannot be associated with us, Hines or our ) Tj ET Q q 0 0 0 rg BT 329.48 178.25 Td (Advisor) Tj ET Q q 0 0 0 rg BT 361.30 178.25 Td (, either directly or indirectly) Tj ET Q q 0 0 0 rg BT 473.11 178.25 Td (, as set forth above. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (An indirect relationship includes circumstances in which a director) Tj ET Q q 0 0 0 rg BT 318.06 166.25 Td () Tj ET Q q 0 0 0 rg BT 320.84 166.25 Td (s spouse, parents, children, siblings, mothers- or fathers-in-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (law) Tj ET Q q 0 0 0 rg BT 63.79 154.25 Td (, sons- or daughters-in-law or brothers- or sisters-in-law) Tj ET Q q 0 0 0 rg BT 286.97 154.25 Td (, is or has been associated with us, Hines, our ) Tj ET Q q 0 0 0 rg BT 470.55 154.25 Td (Advisor) Tj ET Q q 0 0 0 rg BT 502.37 154.25 Td (, or their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 142.25 Td (filiates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 118.25 Td (A) Tj ET Q q 0 0 0 rg BT 65.67 118.25 Td ( business or professional relationship is considered material if the gross revenue derived by the director from our ) Tj ET Q q 0 0 0 rg BT 518.32 118.25 Td (Advisor or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (Hines and their af) Tj ET Q q 0 0 0 rg BT 121.18 106.25 Td (filiates exceeds five percent of either the director) Tj ET Q q 0 0 0 rg BT 317.29 106.25 Td () Tj ET Q q 0 0 0 rg BT 320.06 106.25 Td (s annual gross revenue during either of the last two years or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (the director) Tj ET Q q 0 0 0 rg BT 96.18 94.25 Td () Tj ET Q q 0 0 0 rg BT 98.96 94.25 Td (s net worth on a fair market value basis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 70.25 Td (In addition, our independent directors must meet the independence requirements specified below under Corporate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (Governance.) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 67.64 742.10 Td (e currently have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.55 742.10 Td (seven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.32 742.10 Td ( directors, four of whom are independent. Generally) Tj ET Q q 0 0 0 rg BT 364.64 742.10 Td (, directors are elected annually by our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (stockholders, and there is no limit on the number of times a director may be elected to of) Tj ET Q q 0 0 0 rg BT 404.72 730.10 Td (fice. Each director serves until the next ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (annual meeting of stockholders or \(if longer\) until his or her successor has been duly elected and qualifies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 694.10 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.83 694.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.83 694.10 Td (, our board of directors held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.96 694.10 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.96 694.10 Td ( meetings, including board committee meetings. No director attended fewer than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (75 percent of the aggregate of all meetings held during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.59 682.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.59 682.10 Td ( by our board of directors and by board committees. Our board of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (directors has adopted a policy that each director is expected to attend annual meetings of stockholders when possible. ) Tj ET Q q 0 0 0 rg BT 521.25 670.10 Td (All of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (directors attended the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.57 658.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.57 658.10 Td ( annual meeting of stockholders, and we anticipate that all of our directors will attend our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.74 658.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.74 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (annual meeting of stockholders.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Nominees for) Tj ET Q q 0 0 0 rg BT 106.75 622.10 Td ( the Board of Dir) Tj ET Q q 0 0 0 rg BT 179.34 622.10 Td (ectors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 598.10 Td (The proxy holders named on the proxy card intend to vote for the election of the seven nominees listed below) Tj ET Q q 0 0 0 rg BT 496.84 598.10 Td (. Our board of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (directors has selected these nominees on the recommendation of the board) Tj ET Q q 0 0 0 rg BT 349.90 586.10 Td (s Nominating and Corporate Governance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (Committee. If you do not wish your shares to be voted for particular nominees, please identify the exceptions in the designated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (space provided on the proxy card or) Tj ET Q q 0 0 0 rg BT 193.44 562.10 Td (, if you are voting by telephone or the Internet, follow the instructions provided when you ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (vote. Directors will be elected by the af) Tj ET Q q 0 0 0 rg BT 207.53 550.10 Td (firmative vote of holders of a majority of the shares of our common stock represented in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (person or by proxy at the meeting. ) Tj ET Q q 0 0 0 rg BT 189.41 538.10 Td (Any shares not voted by abstention, withholding authority) Tj ET Q q 0 0 0 rg BT 421.51 538.10 Td (, or broker non-vote will have the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 526.10 Td (fect of votes against the election of nominees to our board of directors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 502.10 Td (If, by the time of the meeting, one or more of the nominees should become unable to serve for any reason, shares represented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (by proxies will be voted for the remaining nominees and for any substitute nominee or nominees designated by the Nominating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (and Corporate Governance Committee. No proxy will be voted for a greater number of persons than the number of nominees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (described in this proxy statement.) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 742.10 Td (The following individuals are the seven nominees for our board of directors:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54 697.6 m 153 697.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 163 697.6 m 187 697.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 197 697.6 m 237 697.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 247 697.6 m 566 697.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.50 702.28 Td (Name) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 166.15 702.28 Td (Age) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 206.55 722.28 Td (Year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 206.20 712.28 Td (First) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 200.65 702.28 Td (Elected) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.25 712.28 Td (Business Experience and Principal Occupation; Directorships in Public) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.75 702.28 Td (Corporations and Investment Companies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.50 688.33 Td (Jeffrey C. Hines) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.50 688.17 Td (61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.50 688.17 Td (2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 688.17 Td (Mr) Tj ET Q q 0 0 0 rg BT 261.17 688.17 Td (. Hines joined Hines in 1982. He has served as the Chairman of our board ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 676.17 Td (of directors, and as Chairman of the managers of the general partner of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 664.17 Td (Advisor since December 2008. Mr) Tj ET Q q 0 0 0 rg BT 387.52 664.17 Td (. Hines has also been the Chairman of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 652.17 Td (board of directors of Hines Real Estate Investment ) Tj ET Q q 0 0 0 rg BT 454.26 652.17 Td (T) Tj ET Q q 0 0 0 rg BT 460.01 652.17 Td (rust, Inc. \(Hines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 640.17 Td (REIT\), Chairman of the managers of the general partner of HALP) Tj ET Q q 0 0 0 rg BT 517.64 640.17 Td ( ) Tj ET Q q 0 0 0 rg BT 519.59 640.17 Td (Advisors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 628.17 Td (Limited Partnership \(HALP\), the advisor to Hines REIT) Tj ET Q q 0 0 0 rg BT 482.60 628.17 Td (, and a member of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 616.17 Td (the management board of the Hines US Core Of) Tj ET Q q 0 0 0 rg BT 442.04 616.17 Td (fice Fund LP) Tj ET Q q 0 0 0 rg BT 493.89 616.17 Td ( \(the Core ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 604.17 Td (Fund\) since ) Tj ET Q q 0 0 0 rg BT 302.83 604.17 Td (August 2003. ) Tj ET Q q 0 0 0 rg BT 361.17 604.17 Td (Additionally) Tj ET Q q 0 0 0 rg BT 411.07 604.17 Td (, since July 2013, Mr) Tj ET Q q 0 0 0 rg BT 494.95 604.17 Td (. Hines has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 592.17 Td (served as the Chairman of the board of directors of Hines Global REIT) Tj ET Q q 0 0 0 rg BT 533.12 592.17 Td ( II, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 580.17 Td (Inc. \("Hines Global REIT) Tj ET Q q 0 0 0 rg BT 352.26 580.17 Td ( II"\) and Chairman of the managers of the general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 568.17 Td (partner of Hines Global REIT) Tj ET Q q 0 0 0 rg BT 368.73 568.17 Td ( II ) Tj ET Q q 0 0 0 rg BT 379.84 568.17 Td (Advisors LP) Tj ET Q q 0 0 0 rg BT 429.75 568.17 Td ( \("HGRIIALP"\), the advisor to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 556.17 Td (Hines Global REIT) Tj ET Q q 0 0 0 rg BT 327.08 556.17 Td ( II. He is also the co-owner and President and Chief ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 544.17 Td (Executive Of) Tj ET Q q 0 0 0 rg BT 302.35 544.17 Td (ficer of the general partner of Hines and is a member of Hines) Tj ET Q q 0 0 0 rg BT 553.17 544.17 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 532.17 Td (Executive Committee. Mr) Tj ET Q q 0 0 0 rg BT 353.09 532.17 Td (. Hines is responsible for overseeing all firm ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 520.17 Td (policies and procedures as well as day-to-day operations of Hines. He became ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 508.17 Td (President of the general partner of Hines in 1990 and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 541.45 508.17 Td (ficer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 496.17 Td (of the general partner of Hines in January 2008 and has overseen a major ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 484.17 Td (expansion of the firm) Tj ET Q q 0 0 0 rg BT 338.09 484.17 Td (s personnel, financial resources, domestic and foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 472.17 Td (market penetration, products and services. He has been a major participant in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 460.17 Td (the development of the Hines domestic and international acquisition program ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 448.17 Td (and currently oversees a portfolio of $89.1 billion in assets under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 436.17 Td (management. Mr) Tj ET Q q 0 0 0 rg BT 319.76 436.17 Td (. Hines graduated from ) Tj ET Q q 0 0 0 rg BT 414.27 436.17 Td (W) Tj ET Q q 0 0 0 rg BT 423.31 436.17 Td (illiams College with a B.A. in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 424.17 Td (Economics and received his M.B.A. from Harvard Business School.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 400.17 Td (W) Tj ET Q q 0 0 0 rg BT 258.14 400.17 Td (e believe that Mr) Tj ET Q q 0 0 0 rg BT 325.61 400.17 Td (. Hines) Tj ET Q q 0 0 0 rg BT 356.53 400.17 Td ( career) Tj ET Q q 0 0 0 rg BT 383.04 400.17 Td (, spanning more than 34 years in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 388.17 Td (commercial real estate industry) Tj ET Q q 0 0 0 rg BT 374.08 388.17 Td (, including his leadership of Hines, and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 376.17 Td (depth of his knowledge of Hines and its af) Tj ET Q q 0 0 0 rg BT 418.73 376.17 Td (filiates, qualifies him to serve on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 364.17 Td (our board of directors.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.50 297.33 Td (Colin P. Shepherd) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.50 297.17 Td (56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.50 297.17 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 296.27 Td (Mr) Tj ET Q q 0 0 0 rg BT 261.17 296.27 Td (. Shepherd joined Hines in 1982. Mr) Tj ET Q q 0 0 0 rg BT 406.71 296.27 Td (. Shepherd was elected to our board of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 284.27 Td (directors in September 2012 and is currently Chairman of Hines) Tj ET Q q 0 0 0 rg BT 508.41 284.27 Td ( Investments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 272.27 Td (and Performance Committee and oversees the Investment Management and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 260.27 Td (Research groups. He is a member of Hines) Tj ET Q q 0 0 0 rg BT 423.15 260.27 Td ( Executive Committee and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 248.27 Td (Investment Committees. He served as a Senior ) Tj ET Q q 0 0 0 rg BT 438.72 248.27 Td (V) Tj ET Q q 0 0 0 rg BT 445.34 248.27 Td (ice President of Hines from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 236.27 Td (June 1994 to ) Tj ET Q q 0 0 0 rg BT 302.56 236.27 Td (April 2012, where he contributed to the development, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 224.27 Td (acquisitions, operations, and transactions of more than 23 million square feet ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 212.27 Td (of commercial real estate in Los ) Tj ET Q q 0 0 0 rg BT 380.00 212.27 Td (Angeles, Seattle, Salt Lake City) Tj ET Q q 0 0 0 rg BT 507.10 212.27 Td (, Orange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 200.27 Td (County) Tj ET Q q 0 0 0 rg BT 278.30 200.27 Td (, San Diego, and Houston. He graduated from Massachusetts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 188.27 Td (Institution of ) Tj ET Q q 0 0 0 rg BT 303.76 188.27 Td (T) Tj ET Q q 0 0 0 rg BT 309.17 188.27 Td (echnology with a B.S. in Civil Engineering and received his ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 176.27 Td (M.S. in Management from Massachusetts Institute of ) Tj ET Q q 0 0 0 rg BT 464.56 176.27 Td (T) Tj ET Q q 0 0 0 rg BT 469.97 176.27 Td (echnology) Tj ET Q q 0 0 0 rg BT 510.98 176.27 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 152.27 Td (W) Tj ET Q q 0 0 0 rg BT 258.14 152.27 Td (e believe that Mr) Tj ET Q q 0 0 0 rg BT 325.61 152.27 Td (. Shepherd) Tj ET Q q 0 0 0 rg BT 371.16 152.27 Td (s significant experience in the commercial real ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 140.27 Td (estate industry) Tj ET Q q 0 0 0 rg BT 306.89 140.27 Td (, including his 34 year tenure at Hines and his vast knowledge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 128.27 Td (of Hines) Tj ET Q q 0 0 0 rg BT 286.25 128.27 Td ( financial and investment policies, qualifies him to serve on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 116.27 Td (board of directors.) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (7) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 714.5 m 148.5 714.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 714.5 m 182.5 714.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 192.5 714.5 m 232.5 714.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 714.5 m 561.5 714.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 719.18 Td (Name) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 161.65 719.18 Td (Age) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 202.05 739.18 Td (Year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.70 729.18 Td (First) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.15 719.18 Td (Elected) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.75 729.18 Td (Business Experience and Principal Occupation; Directorships in Public) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.25 719.18 Td (Corporations and Investment Companies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 705.23 Td (Charles M. Baughn) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.00 705.07 Td (61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.00 705.07 Td (2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 705.07 Td (Mr) Tj ET Q q 0 0 0 rg BT 256.67 705.07 Td (.Baughn joined Hines in 1984. Mr) Tj ET Q q 0 0 0 rg BT 395.55 705.07 Td (. Baughn has served as a member of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 693.07 Td (board of directors and as a manager of the general partner of our ) Tj ET Q q 0 0 0 rg BT 504.61 693.07 Td (Advisor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 681.07 Td (since December 2008. In addition, Mr) Tj ET Q q 0 0 0 rg BT 399.40 681.07 Td (. Baughn has been a member of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 669.07 Td (board of directors of Hines REIT) Tj ET Q q 0 0 0 rg BT 377.28 669.07 Td ( since ) Tj ET Q q 0 0 0 rg BT 402.28 669.07 Td (April 2008 and as a manager of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 657.07 Td (general partner of HALP) Tj ET Q q 0 0 0 rg BT 344.31 657.07 Td ( since ) Tj ET Q q 0 0 0 rg BT 369.31 657.07 Td (August 2003. He served as Chief Executive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 645.07 Td (Of) Tj ET Q q 0 0 0 rg BT 255.37 645.07 Td (ficer of Hines REIT) Tj ET Q q 0 0 0 rg BT 334.88 645.07 Td ( and the general partner of HALP) Tj ET Q q 0 0 0 rg BT 468.35 645.07 Td ( from ) Tj ET Q q 0 0 0 rg BT 492.24 645.07 Td (August 2003 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 633.07 Td (through ) Tj ET Q q 0 0 0 rg BT 278.06 633.07 Td (April1, 2008. ) Tj ET Q q 0 0 0 rg BT 336.11 633.07 Td (Additionally) Tj ET Q q 0 0 0 rg BT 386.02 633.07 Td (, since July 2013, Mr) Tj ET Q q 0 0 0 rg BT 469.90 633.07 Td (. Baughn has served ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 621.07 Td (as a member of the board of directors of Hines Global REIT) Tj ET Q q 0 0 0 rg BT 485.58 621.07 Td ( II and as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 609.07 Td (member of the general partner of HGRIIALP) Tj ET Q q 0 0 0 rg BT 424.94 609.07 Td (. He has served as the Senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 597.07 Td (Managing Director and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 415.60 597.07 Td (ficer of the general partner of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 585.07 Td (Hines since 2012. In this role, he is responsible for overseeing Hines) Tj ET Q q 0 0 0 rg BT 524.75 585.07 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 573.07 Td (operating business including central services, balance-sheet related activities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 561.07 Td (and bank and other debt financing. Previously) Tj ET Q q 0 0 0 rg BT 430.97 561.07 Td (, he also has served as an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 549.07 Td (Executive ) Tj ET Q q 0 0 0 rg BT 287.30 549.07 Td (V) Tj ET Q q 0 0 0 rg BT 293.92 549.07 Td (ice President and CEO--Capital Markets Group of the general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 537.07 Td (partner of Hines from ) Tj ET Q q 0 0 0 rg BT 333.86 537.07 Td (April 2001 through 2012 and, as such, was responsible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 525.07 Td (for overseeing Hines) Tj ET Q q 0 0 0 rg BT 330.89 525.07 Td ( capital markets group, which raises, places and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 513.07 Td (manages equity and debt for Hines projects in the U.S.and internationally) Tj ET Q q 0 0 0 rg BT 540.66 513.07 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 501.07 Td (Mr) Tj ET Q q 0 0 0 rg BT 256.67 501.07 Td (. Baughn is also a member of the Hines' Executive Committee and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 489.07 Td (director of Hines Securities, Inc. Until May 2015, Mr) Tj ET Q q 0 0 0 rg BT 460.51 489.07 Td (. Baughn also served as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 477.07 Td (the Chief Executive Of) Tj ET Q q 0 0 0 rg BT 337.29 477.07 Td (ficer of our Dealer Manager) Tj ET Q q 0 0 0 rg BT 448.89 477.07 Td (. Mr) Tj ET Q q 0 0 0 rg BT 468.06 477.07 Td (. Baughn has also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 465.07 Td (been a member of the management board of the Core Fund since 2003. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 453.07 Td (During his tenure at Hines, he has contributed to the development or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 441.07 Td (redevelopment of over 9million square feet of of) Tj ET Q q 0 0 0 rg BT 441.97 441.07 Td (fice and special use facilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 429.07 Td (in the southwestern United States. He graduated from the New ) Tj ET Q q 0 0 0 rg BT 497.62 429.07 Td (Y) Tj ET Q q 0 0 0 rg BT 503.84 429.07 Td (ork State ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 417.07 Td (College of Ceramics at ) Tj ET Q q 0 0 0 rg BT 338.86 417.07 Td (Alfred University with a B.A. and received his ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 405.07 Td (M.B.A. from the University of Colorado. Mr) Tj ET Q q 0 0 0 rg BT 423.87 405.07 Td (.Baughn holds Series7, 24 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 393.07 Td (63 securities licenses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 369.07 Td (W) Tj ET Q q 0 0 0 rg BT 253.64 369.07 Td (e believe that Mr) Tj ET Q q 0 0 0 rg BT 321.11 369.07 Td (.Baughn) Tj ET Q q 0 0 0 rg BT 360.00 369.07 Td (s experience in the commercial real estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 357.07 Td (industry during his more than 31-year career with Hines, including his ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 345.07 Td (familiarity with Hines) Tj ET Q q 0 0 0 rg BT 335.90 345.07 Td ( financial and investment policies, qualifies him to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 333.07 Td (serve on our board of directors.) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (8) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 714.5 m 148.5 714.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 714.5 m 182.5 714.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 192.5 714.5 m 232.5 714.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 714.5 m 561.5 714.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 719.18 Td (Name) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 161.65 719.18 Td (Age) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 202.05 739.18 Td (Year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.70 729.18 Td (First) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.15 719.18 Td (Elected) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.75 729.18 Td (Business Experience and Principal Occupation; Directorships in Public) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.25 719.18 Td (Corporations and Investment Companies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 705.23 Td (Jack L. Farley) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.00 705.07 Td (52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.00 705.07 Td (2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 705.07 Td (Mr) Tj ET Q q 0 0 0 rg BT 256.67 705.07 Td (. Farley has served as an independent director since June 2009. Mr) Tj ET Q q 0 0 0 rg BT 524.93 705.07 Td (. Farley ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 693.07 Td (has served as the President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 449.20 693.07 Td (ficer of ) Tj ET Q q 0 0 0 rg BT 480.29 693.07 Td (Apex Compressed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 681.07 Td (Air Ener) Tj ET Q q 0 0 0 rg BT 279.53 681.07 Td (gy Storage LLC, since January 201) Tj ET Q q 0 0 0 rg BT 420.23 681.07 Td (1, the year the company was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 669.07 Td (launched in order to develop, build, operate, and commercialize utility-scale ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 657.07 Td (compressed air ener) Tj ET Q q 0 0 0 rg BT 324.78 657.07 Td (gy storage assets. Prior to that he co-founded Liberty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 645.07 Td (Green Renewables, LLC in June 2008 to pursue development, construction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 633.07 Td (and operation of biomass-to-electricity generation projects in the Midwest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 621.07 Td (and Southeast US. From 2003 to February 2008, Mr) Tj ET Q q 0 0 0 rg BT 453.33 621.07 Td (. Farley was Senior ) Tj ET Q q 0 0 0 rg BT 532.85 621.07 Td (V) Tj ET Q q 0 0 0 rg BT 539.47 621.07 Td (ice ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 609.07 Td (President of Ciner) Tj ET Q q 0 0 0 rg BT 317.58 609.07 Td (gy Corp., where he was responsible for the Power ) Tj ET Q q 0 0 0 rg BT 519.30 609.07 Td (T) Tj ET Q q 0 0 0 rg BT 525.05 609.07 Td (rading ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 597.07 Td (and Marketing group. During his tenure, the group had approximately $30 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 585.07 Td (billion of annual physical power sales and ranked in the top 15 in the US. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 573.07 Td (Ciner) Tj ET Q q 0 0 0 rg BT 267.04 573.07 Td (gy Corp. mer) Tj ET Q q 0 0 0 rg BT 319.90 573.07 Td (ged with Duke Ener) Tj ET Q q 0 0 0 rg BT 399.98 573.07 Td (gy \(NYSE: DUK\) in 2006. In October ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 561.07 Td (2007, Fortis NV) Tj ET Q q 0 0 0 rg BT 310.10 561.07 Td ( acquired Duke) Tj ET Q q 0 0 0 rg BT 373.96 561.07 Td (s trading operations as a strategic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 549.07 Td (enhancement to its nascent US banking activities. Prior to joining Ciner) Tj ET Q q 0 0 0 rg BT 531.71 549.07 Td (gy/) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 537.07 Td (Duke, Mr) Tj ET Q q 0 0 0 rg BT 283.33 537.07 Td (. Farley was President of the ) Tj ET Q q 0 0 0 rg BT 399.51 537.07 Td (W) Tj ET Q q 0 0 0 rg BT 408.15 537.07 Td (est Region at Reliant Resources, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 525.07 Td (Inc., where he managed a $1.1 billion portfolio of power generation assets, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 513.07 Td (and was responsible for the development and construction of two combined-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 501.07 Td (cycle gas turbine projects with a total investment of approximately $750 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 489.07 Td (million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 465.07 Td (W) Tj ET Q q 0 0 0 rg BT 253.64 465.07 Td (e believe that Mr) Tj ET Q q 0 0 0 rg BT 321.11 465.07 Td (. Farley) Tj ET Q q 0 0 0 rg BT 354.44 465.07 Td (s extensive leadership experience and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 453.07 Td (understanding of the requirements of managing a public company) Tj ET Q q 0 0 0 rg BT 507.61 453.07 Td (, acquired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 441.07 Td (during his tenure at Ciner) Tj ET Q q 0 0 0 rg BT 347.02 441.07 Td (gy Corp. and Duke Ener) Tj ET Q q 0 0 0 rg BT 444.31 441.07 Td (gy qualify him to serve on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 429.07 Td (our board of directors. ) Tj ET Q q 0 0 0 rg BT 336.73 429.07 Td (This experience along with Mr) Tj ET Q q 0 0 0 rg BT 459.48 429.07 Td (. Farley) Tj ET Q q 0 0 0 rg BT 492.80 429.07 Td (s Masters in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 417.07 Td (Business ) Tj ET Q q 0 0 0 rg BT 282.51 417.07 Td (Administration from ) Tj ET Q q 0 0 0 rg BT 367.32 417.07 Td (The ) Tj ET Q q 0 0 0 rg BT 385.19 417.07 Td (Wharton School and his involvement in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 405.07 Td (the preparation of earnings statements and the compliance process for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 393.07 Td (Sarbanes-Oxley requirements of public companies enable him to provide ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 381.07 Td (valuable insight to our board of directors and our ) Tj ET Q q 0 0 0 rg BT 443.01 381.07 Td (Audit Committee, for which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 369.07 Td (he serves as Chairman.) Tj ET Q endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (9) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 714.5 m 148.5 714.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 714.5 m 182.5 714.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 192.5 714.5 m 232.5 714.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 714.5 m 561.5 714.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 719.18 Td (Name) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 161.65 719.18 Td (Age) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 202.05 739.18 Td (Year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.70 729.18 Td (First) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.15 719.18 Td (Elected) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.75 729.18 Td (Business Experience and Principal Occupation; Directorships in Public) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.25 719.18 Td (Corporations and Investment Companies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 705.23 Td (Thomas L. Mitchell) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.00 705.07 Td (56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.00 705.07 Td (2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 705.07 Td (Mr) Tj ET Q q 0 0 0 rg BT 256.67 705.07 Td (. Mitchell has served as an independent director since June 2009. Mr) Tj ET Q q 0 0 0 rg BT 530.76 705.07 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 693.07 Td (Mitchell has served as the Executive ) Tj ET Q q 0 0 0 rg BT 393.66 693.07 Td (V) Tj ET Q q 0 0 0 rg BT 400.28 693.07 Td (ice President and Chief Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 681.07 Td (Of) Tj ET Q q 0 0 0 rg BT 255.37 681.07 Td (ficer of Devon Ener) Tj ET Q q 0 0 0 rg BT 334.87 681.07 Td (gy Corporation \(NYSE:DVN\) since February 2014. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 669.07 Td (Prior to February 2014, he served as the Executive ) Tj ET Q q 0 0 0 rg BT 449.76 669.07 Td (V) Tj ET Q q 0 0 0 rg BT 456.38 669.07 Td (ice President and Chief ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 657.07 Td (Financial Of) Tj ET Q q 0 0 0 rg BT 295.08 657.07 Td (ficer of Midstates Petroleum Company) Tj ET Q q 0 0 0 rg BT 449.96 657.07 Td (, Inc. \(NYSE: MPO\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 645.07 Td (formerly Midstates Petroleum Company LLC, an exploration and production ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 633.07 Td (company) Tj ET Q q 0 0 0 rg BT 281.01 633.07 Td (, since 201) Tj ET Q q 0 0 0 rg BT 323.68 633.07 Td (1, and member of the Midstates board of directors from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 621.07 Td (2012 until January 2014. He was instrumental in taking Midstates public in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 609.07 Td (2012. From 2006 to 201) Tj ET Q q 0 0 0 rg BT 341.58 609.07 Td (1, he was the Senior ) Tj ET Q q 0 0 0 rg BT 424.71 609.07 Td (V) Tj ET Q q 0 0 0 rg BT 431.33 609.07 Td (ice President, Chief Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 597.07 Td (Of) Tj ET Q q 0 0 0 rg BT 255.37 597.07 Td (ficer) Tj ET Q q 0 0 0 rg BT 273.29 597.07 Td (, ) Tj ET Q q 0 0 0 rg BT 278.11 597.07 Td (T) Tj ET Q q 0 0 0 rg BT 283.86 597.07 Td (reasurer and Controller of Noble Corporation \(NYSE: NE\), a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 585.07 Td (publicly-held of) Tj ET Q q 0 0 0 rg BT 308.97 585.07 Td (fshore drilling contractor for the oil and gas industry) Tj ET Q q 0 0 0 rg BT 518.27 585.07 Td (. From ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 573.07 Td (1997 to November 2006, Mr) Tj ET Q q 0 0 0 rg BT 359.16 573.07 Td (. Mitchell served as ) Tj ET Q q 0 0 0 rg BT 439.79 573.07 Td (V) Tj ET Q q 0 0 0 rg BT 446.41 573.07 Td (ice President and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 561.07 Td (Controller of ) Tj ET Q q 0 0 0 rg BT 298.88 561.07 Td (Apache Corporation \(NYSE, NASDAQ: ) Tj ET Q q 0 0 0 rg BT 463.58 561.07 Td (AP) Tj ET Q q 0 0 0 rg BT 475.45 561.07 Td (A\), a publicly-held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 549.07 Td (oil and gas exploration, development and production company) Tj ET Q q 0 0 0 rg BT 494.29 549.07 Td (. From 1996 to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 537.07 Td (1997, he served as Chief ) Tj ET Q q 0 0 0 rg BT 345.53 537.07 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 405.06 537.07 Td (ficer and Controller of ) Tj ET Q q 0 0 0 rg BT 496.69 537.07 Td (Apache, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 525.07 Td (from 1989 to 1996 he served ) Tj ET Q q 0 0 0 rg BT 362.20 525.07 Td (Apache in various positions. Prior to joining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 513.07 Td (Apache, Mr) Tj ET Q q 0 0 0 rg BT 292.21 513.07 Td (. Mitchell spent seven years at ) Tj ET Q q 0 0 0 rg BT 415.23 513.07 Td (Arthur ) Tj ET Q q 0 0 0 rg BT 443.84 513.07 Td (Andersen & Co., an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 501.07 Td (independent public accounting firm, where he practiced as a Certified Public ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 489.07 Td (Accountant \(inactive\), managing clients in the oil and gas, banking, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 477.07 Td (manufacturing and government contracting industries. Mr) Tj ET Q q 0 0 0 rg BT 476.05 477.07 Td (. Mitchell graduated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 465.07 Td (with honors from Bob Jones University with a B.S. in ) Tj ET Q q 0 0 0 rg BT 462.22 465.07 Td (Accounting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 441.07 Td (W) Tj ET Q q 0 0 0 rg BT 253.64 441.07 Td (e believe Mr) Tj ET Q q 0 0 0 rg BT 303.62 441.07 Td (. Mitchell) Tj ET Q q 0 0 0 rg BT 345.28 441.07 Td (s significant leadership experience at four public ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 429.07 Td (companies qualifies him to serve on our board of directors. In addition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 417.07 Td (through his previous experience in public accounting, Mr) Tj ET Q q 0 0 0 rg BT 473.83 417.07 Td (. Mitchell is able to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 405.07 Td (provide valuable insight with respect to financial reporting processes and our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 393.07 Td (system of internal controls.) Tj ET Q endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (10) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 714.5 m 148.5 714.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 714.5 m 182.5 714.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 192.5 714.5 m 232.5 714.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 714.5 m 561.5 714.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 719.18 Td (Name) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 161.65 719.18 Td (Age) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 202.05 739.18 Td (Year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.70 729.18 Td (First) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.15 719.18 Td (Elected) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.75 729.18 Td (Business Experience and Principal Occupation; Directorships in Public) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.25 719.18 Td (Corporations and Investment Companies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 705.23 Td (John S. Moody) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.00 705.07 Td (67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.00 705.07 Td (2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 705.07 Td (Mr. Moody has served as an independent director since June 2009. Mr.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 693.07 Td (Moody has been President of Parkside Capital, LLC in Houston since January) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 681.07 Td (2006. Parkside Capital, LLC is the general partner and manager of Parkside) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 669.07 Td (Capital Land Fund, LTD., a Texas real estate private equity firm which) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 657.07 Td (invests in raw land in high growth markets in Texas. From January 2004 to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 645.07 Td (December 2005, Mr. Moody was the President and Chief Executive Officer of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 633.07 Td (HRO Asset Management, LLC, a real estate advisory business headquartered) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 621.07 Td (in New York City, where he oversaw the acquisition of $850 million of real) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 609.07 Td (estate assets. From September 2001 to December 2003, he was the President) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 597.07 Td (of Marsh & McLennan Real Estate Advisors, Inc., where he developed the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 585.07 Td (real estate strategy for the Marsh & McLennan Companies, including) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 573.07 Td (directing the execution of all real estate leases, projects and transactions. Mr.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 561.07 Td (Moody was also the President and Chief Executive Officer of Cornerstone) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 549.07 Td (Properties, Inc., a publicly-held equity REIT which acquired, developed and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 537.07 Td (operated large scale Class A office buildings in major metropolitan markets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 525.07 Td (throughout the US. During his tenure at Cornerstone, assets grew from $500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 513.07 Td (million to $4.8 billion. From 1991 to 1995, Mr. Moody was the President and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 501.07 Td (Chief Executive Officer of Deutsche Bank Realty Advisors, Inc., where he) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 489.07 Td (oversaw a $2 billion equity and debt portfolio. Mr. Moody has been a member) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 477.07 Td (of the Board of Directors of Huron Consulting Group \(NASDAQ: HURN\), a) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 465.07 Td (publicly-held integrated strategic services provider since October 2005. Since) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 453.07 Td (September 2006, he has been a member of the Board of Directors of Potlatch) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 441.07 Td (Corporation \(NYSE: PCH\), a publicly-held REIT with approximately 1.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 429.07 Td (million acres of forestland. He became the Vice Chairman of the Board of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 417.07 Td (Directors of Potlatch in January 2009. Mr. Moody also has served as the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 405.07 Td (Chairman of the board of directors of Four Corners Property Trust Inc) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 393.07 Td (\(NYSE: FCPT\) since November 2015. Mr. Moody was a member of the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 381.07 Td (Board of Directors and Chairman of the Compensation Committee of CRIIMI) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 369.07 Td (MAE, Inc., a publicly-held REIT, from January 2004 to January 2006. He) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 357.07 Td (was also a member of the Board of Directors and Chairman of the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 345.07 Td (Compensation Committee of Keystone Property Trust, a publicly-held REIT,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 333.07 Td (from 2001 to 2004. Mr. Moody graduated from Stanford University with a) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 321.07 Td (B.S. and received his J.D. with honors from the University of Texas.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 286.07 Td (We believe that Mr. Moodys significant experience in the commercial real) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 274.07 Td (estate industry qualifies him to serve as one of our directors. Drawing on this) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 262.07 Td (experience, Mr. Moody is able to provide valuable insight regarding our) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 250.07 Td (investment strategies, internal controls and financial risk exposures. In) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 238.07 Td (addition, through his experience serving on the boards of several public) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 226.07 Td (companies, Mr. Moody is well-versed in the requirements of serving on a) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 214.07 Td (public company board.) Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 31.60 Td (1) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 713.5 m 148.5 713.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 158.5 713.5 m 182.5 713.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 192.5 713.5 m 232.5 713.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 713.5 m 561.5 713.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 718.18 Td (Name) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 161.65 718.18 Td (Age) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 202.05 738.18 Td (Year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.70 728.18 Td (First) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.15 718.18 Td (Elected) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.75 728.18 Td (Business Experience and Principal Occupation; Directorships in Public) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.25 718.18 Td (Corporations and Investment Companies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 704.23 Td (Peter Shaper) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.00 704.07 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.00 704.07 Td (2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 704.07 Td (Mr) Tj ET Q q 0 0 0 rg BT 256.67 704.07 Td (. Shaper has served as an independent director since June 2009. He has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 692.07 Td (served as a director and member of the audit committee of HMS Income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 680.07 Td (Fund, Inc. \("HMS"\) since May 2012. Mr) Tj ET Q q 0 0 0 rg BT 410.38 680.07 Td (. Shaper also has served as the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 668.07 Td (Chairman and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 381.44 668.07 Td (ficer of Greenwell Ener) Tj ET Q q 0 0 0 rg BT 475.93 668.07 Td (gy Solutions, an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 656.07 Td (independent specialty chemical supplier to the upstream oil and gas industry) Tj ET Q q 0 0 0 rg BT 549.82 656.07 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 644.07 Td (since 2012. ) Tj ET Q q 0 0 0 rg BT 295.00 644.07 Td (Additionally) Tj ET Q q 0 0 0 rg BT 344.90 644.07 Td (, he is a founding partner of Genesis Park LP) Tj ET Q q 0 0 0 rg BT 523.75 644.07 Td (, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 632.07 Td (Houston-based private equity firm which was founded in 2000 and primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 620.07 Td (focuses on buyouts, partnering strategies with public corporations and growth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 608.07 Td (financing bringing each company capital, commercial execution capabilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 596.07 Td (and a depth of experience in mer) Tj ET Q q 0 0 0 rg BT 375.87 596.07 Td (gers and acquisitions. Mr) Tj ET Q q 0 0 0 rg BT 478.91 596.07 Td (. Shaper also was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 584.07 Td (the Chief Executive Of) Tj ET Q q 0 0 0 rg BT 337.29 584.07 Td (ficer of Harris CapRock Communications, Inc., a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 572.07 Td (global provider of broadband communications to remote locations via satellite ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 560.07 Td (with revenues of over $300 million from 2002 through June 201) Tj ET Q q 0 0 0 rg BT 501.81 560.07 Td (1, when he ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 548.07 Td (resigned. From 1998 to 2000, Mr) Tj ET Q q 0 0 0 rg BT 377.50 548.07 Td (. Shaper was the president of Donnelley ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 536.07 Td (Marketing, a Division of First Data Corporation, where he was directly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 524.07 Td (responsible for the turnaround and eventual sale of the $100 million revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 512.07 Td (database marketing company to a strategic buyer) Tj ET Q q 0 0 0 rg BT 439.93 512.07 Td (. In 1996, Mr) Tj ET Q q 0 0 0 rg BT 492.43 512.07 Td (. Shaper helped ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 500.07 Td (found the Information Management Group, or IMG, as its Executive ) Tj ET Q q 0 0 0 rg BT 521.42 500.07 Td (V) Tj ET Q q 0 0 0 rg BT 528.04 500.07 Td (ice ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 488.07 Td (President of Operations and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 433.66 488.07 Td (ficer) Tj ET Q q 0 0 0 rg BT 451.43 488.07 Td (. IMG grew to over $600 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 476.07 Td (million in revenue during Mr) Tj ET Q q 0 0 0 rg BT 361.09 476.07 Td (. Shaper) Tj ET Q q 0 0 0 rg BT 394.23 476.07 Td () Tj ET Q q 0 0 0 rg BT 397.01 476.07 Td (s tenure. Prior to joining IMG, Mr) Tj ET Q q 0 0 0 rg BT 533.12 476.07 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 464.07 Td (Shaper was with a Dallas-based private equity firm where he was responsible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 452.07 Td (for investments in numerous technology-oriented companies, as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 440.07 Td (assisting those companies with developing long-term strategies and financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 428.07 Td (structures. Mr) Tj ET Q q 0 0 0 rg BT 300.55 428.07 Td (. Shaper also has several years) Tj ET Q q 0 0 0 rg BT 424.76 428.07 Td ( experience with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 416.07 Td (international consulting firm McKinsey & Company) Tj ET Q q 0 0 0 rg BT 454.59 416.07 Td (. Mr) Tj ET Q q 0 0 0 rg BT 471.26 416.07 Td (. Shaper graduated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 404.07 Td (from Stanford University with a B.S. in industrial engineering and received ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 392.07 Td (his M.B.A. from Harvard Business School. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 367.07 Td (W) Tj ET Q q 0 0 0 rg BT 253.64 367.07 Td (e believe Mr) Tj ET Q q 0 0 0 rg BT 303.62 367.07 Td (. Shaper) Tj ET Q q 0 0 0 rg BT 336.76 367.07 Td () Tj ET Q q 0 0 0 rg BT 339.54 367.07 Td (s significant experience as a senior executive of) Tj ET Q q 0 0 0 rg BT 530.11 367.07 Td (ficer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 355.07 Td (of sophisticated companies such as Greenwell Ener) Tj ET Q q 0 0 0 rg BT 450.31 355.07 Td (gy Solutions, Harris ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 343.07 Td (CapRock Communications, Genesis Park and Donnelley Marketing/First ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 331.07 Td (Data, as well as his experience founding and leading IMG, qualify him to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 319.07 Td (serve on our board of directors.) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 127.80 283.00 Td (Our) Tj ET Q q 0 0 0 rg BT 145.40 283.00 Td ( board of dir) Tj ET Q q 0 0 0 rg BT 199.39 283.00 Td (ectors unanimously r) Tj ET Q q 0 0 0 rg BT 289.21 283.00 Td (ecommends a vote FOR each of the nominees.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 237.05 259.00 Td (CORPORA) Tj ET Q q 0 0 0 rg BT 286.86 259.00 Td (TE GOVERNANCE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 235.00 Td (The four standing committees of our board of directors are: the ) Tj ET Q q 0 0 0 rg BT 313.09 235.00 Td (Audit Committee, the Conflicts Committee, the Nominating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.00 Td (and Corporate Governance Committee and the Compensation Committee. ) Tj ET Q q 0 0 0 rg BT 348.16 223.00 Td (Y) Tj ET Q q 0 0 0 rg BT 354.38 223.00 Td (ou may obtain copies of the charters for all of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.00 Td (board committees from our website at ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 204.40 211.00 Td (www) Tj ET Q q 0 0 0 rg BT 223.67 211.00 Td (.hinessecurities.com/r) Tj ET Q q 0 0 0 rg BT 311.06 211.00 Td (eits/hines-global-r) Tj ET Q q 0 0 0 rg BT 384.57 211.00 Td (eit/corporate-governance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.76 211.00 Td (/. Each committee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.00 Td (has four members and is composed entirely of our four independent directors. Currently) Tj ET Q q 0 0 0 rg BT 401.20 199.00 Td (, Mr) Tj ET Q q 0 0 0 rg BT 417.87 199.00 Td (. Moody serves as chairman of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.00 Td (Conflicts Committee, Mr) Tj ET Q q 0 0 0 rg BT 150.27 187.00 Td (. Farley serves as chairman of the ) Tj ET Q q 0 0 0 rg BT 286.34 187.00 Td (Audit Committee, Mr) Tj ET Q q 0 0 0 rg BT 372.72 187.00 Td (. Shaper serves as chairman of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.00 Td (Compensation Committee and Mr) Tj ET Q q 0 0 0 rg BT 185.82 175.00 Td (. Mitchell serves as chairman of the Nominating and Corporate Governance Committee.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 151.00 Td (Our board of directors has determined that each of our independent directors is independent within the meaning of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 139.00 Td (applicable \(i\) provisions set forth in our Charter) Tj ET Q q 0 0 0 rg BT 240.94 139.00 Td (, and \(ii\) requirements set forth in the Exchange ) Tj ET Q q 0 0 0 rg BT 434.21 139.00 Td (Act and the applicable SEC ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 127.00 Td (rules, and \(iii\) although our shares are not listed on the New ) Tj ET Q q 0 0 0 rg BT 292.07 127.00 Td (Y) Tj ET Q q 0 0 0 rg BT 298.29 127.00 Td (ork Stock Exchange \(the NYSE\), under the independence rules ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 115.00 Td (set forth in the NYSE Listed Company Manual. Our board of directors follows the NYSE rules governing independence as part ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 103.00 Td (of its policy of maintaining strong corporate governance practices. ) Tj ET Q q 0 0 0 rg BT 318.06 103.00 Td (T) Tj ET Q q 0 0 0 rg BT 323.47 103.00 Td (o be considered independent under the NYSE rules, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 91.00 Td (board of directors must determine that a director does not have a material relationship with us and/or our consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 79.00 Td (subsidiaries \(either directly or as a partner) Tj ET Q q 0 0 0 rg BT 217.87 79.00 Td (, stockholder or of) Tj ET Q q 0 0 0 rg BT 291.00 79.00 Td (ficer of an or) Tj ET Q q 0 0 0 rg BT 342.73 79.00 Td (ganization that has a relationship with any of those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 67.00 Td (entities, including Hines and its af) Tj ET Q q 0 0 0 rg BT 186.46 67.00 Td (filiates\). Under the NYSE rules, a director will not be independent if:) Tj ET Q endstream endobj 33 0 obj <> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (the director was employed by us within the last three years;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (an immediate family member of the director was employed by us as an executive of) Tj ET Q q 0 0 0 rg BT 421.26 718.10 Td (ficer within the last three years;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 694.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (the director) Tj ET Q q 0 0 0 rg BT 131.41 694.10 Td (, or an immediate family member of the director) Tj ET Q q 0 0 0 rg BT 323.99 694.10 Td (, received more than $120,000 during any 12-month period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td (within the last three years in direct compensation from us, other than director and committee fees and pension or other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td (forms of deferred compensation for prior service \(provided such compensation is not contingent in any way on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.10 Td (continued service\);) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 634.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td (the director is a current partner or employee of a firm that is our internal or external auditor) Tj ET Q q 0 0 0 rg BT 450.73 634.10 Td (, the director has an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 622.10 Td (immediate family member who is a current partner of such a firm, the director has an immediate family member who ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.10 Td (is a current employee of such a firm and personally works on our audit, or the director or an immediate family member ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.10 Td (was within the last three years a partner or employee of such a firm and personally worked on our audit within that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.10 Td (time;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 562.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 562.10 Td (the director or an immediate family member is, or has been with the last three years, employed as an executive of) Tj ET Q q 0 0 0 rg BT 538.99 562.10 Td (ficer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.10 Td (of another company where any of our present executive of) Tj ET Q q 0 0 0 rg BT 319.33 550.10 Td (ficers at the same time serves or served on that company) Tj ET Q q 0 0 0 rg BT 548.14 550.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 538.10 Td (compensation committee; or) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 514.10 Td (the director was an executive of) Tj ET Q q 0 0 0 rg BT 213.26 514.10 Td (ficer or an employee \(or an immediate family member of the director was an executive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 502.10 Td (of) Tj ET Q q 0 0 0 rg BT 94.15 502.10 Td (ficer\) of a company that makes payments to, or receives payments from, us for property or services in an amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 490.10 Td (which, in any of the last three fiscal years, exceeded the greater of $1,000,000 or 2% of such other company) Tj ET Q q 0 0 0 rg BT 521.12 490.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 478.10 Td (consolidated gross revenues.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 454.10 Td (Interested parties may communicate matters they wish to raise with the directors by writing to Hines Global REIT) Tj ET Q q 0 0 0 rg BT 514.53 454.10 Td (, Inc., 2800 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Post Oak Boulevard, Suite 5000, Houston, ) Tj ET Q q 0 0 0 rg BT 222.31 442.10 Td (T) Tj ET Q q 0 0 0 rg BT 227.72 442.10 Td (exas 77056-61) Tj ET Q q 0 0 0 rg BT 285.95 442.10 Td (18, ) Tj ET Q q 0 0 0 rg BT 300.40 442.10 Td (Attention: R) Tj ET Q q 0 0 0 rg BT 349.72 442.10 Td (yan ) Tj ET Q q 0 0 0 rg BT 366.48 442.10 Td (T) Tj ET Q q 0 0 0 rg BT 371.85 442.10 Td (. Sims, Chief Financial Of) Tj ET Q q 0 0 0 rg BT 476.66 442.10 Td (ficer and Secretary) Tj ET Q q 0 0 0 rg BT 551.51 442.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (Mr) Tj ET Q q 0 0 0 rg BT 61.67 430.10 Td (. Sims will deliver all appropriate communications to the Nominating and Corporate Governance Committee of the board of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (directors, which will, in its discretion, deliver such communications \(together with any recommendations\) to the board of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (directors no later than the next regularly scheduled meeting of the board of directors.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (Audit Committee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 358.10 Td (The ) Tj ET Q q 0 0 0 rg BT 76.50 358.10 Td (Audit Committee, in performing its duties:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 334.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 334.10 Td (oversees the integrity of our financial statements and other financial information to be provided to our stockholders;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 310.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 310.10 Td (directly appoints, retains, compensates, evaluates and terminates the independent auditors;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 286.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 286.10 Td (reviews with the independent auditors the plans and results of the audit engagement;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 262.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 262.10 Td (approves professional services provided by our principal independent registered public accounting firm;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 238.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 238.10 Td (reviews the independence, performance and qualifications of our principal independent registered public accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 226.10 Td (firm;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 202.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 202.10 Td (considers and approves the range of audit and non-audit fees;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 178.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 178.10 Td (reviews the adequacy of our systems of disclosure controls and internal controls over financial reporting; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 154.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 154.10 Td (oversees our compliance with legal and regulatory requirements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 130.10 Td (Our board of directors has determined that each member of our ) Tj ET Q q 0 0 0 rg BT 313.63 130.10 Td (Audit Committee is independent within the meaning of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (applicable requirements set forth in or promulgated under the Exchange ) Tj ET Q q 0 0 0 rg BT 339.35 118.10 Td (Act, as well as in the NYSE rules. In addition, our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (board of directors has determined that Jack L. Farley is an audit committee financial expert within the meaning of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (applicable rules promulgated by the SEC. Unless otherwise determined by the board of directors, no member of the committee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (may serve as a member of the ) Tj ET Q q 0 0 0 rg BT 171.34 82.10 Td (Audit Committee of more than two other public companies. During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.79 82.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.79 82.10 Td (, the ) Tj ET Q q 0 0 0 rg BT 482.95 82.10 Td (Audit Committee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.72 70.10 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.26 70.10 Td ( meetings. ) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 76.50 742.10 Td (Audit Committee) Tj ET Q q 0 0 0 rg BT 148.99 742.10 Td (s report on our financial statements for the fiscal year ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.98 742.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.98 742.10 Td ( is presented below ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (under the heading Audit Committee Report.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Nominating and Corporate Governance Committee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 682.10 Td (The Nominating and Corporate Governance Committee, in performing its duties:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.10 Td (assists our board of directors in identifying individuals qualified to become members of our board of directors;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 634.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td (recommends candidates to our board of directors to fill vacancies on the board and to stand for election by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 622.10 Td (stockholders at the annual meeting;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 598.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.10 Td (recommends committee assignments for directors to the full board;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 574.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 574.10 Td (periodically assesses the performance of our board of directors;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 550.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.10 Td (reviews and recommends appropriate corporate governance policies and procedures to our board of directors; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 526.10 Td (reviews and reassesses the adequacy of and compliance with our Code of Business Conduct and Ethics for Senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 514.10 Td (Of) Tj ET Q q 0 0 0 rg BT 96.37 514.10 Td (ficers and Directors and recommends any proposed modifications to our board of directors for approval.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 490.10 Td (Our board of directors has determined that each member of our Nominating and Corporate Governance Committee is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (independent within the meaning of the applicable requirements set forth in or promulgated under the Exchange ) Tj ET Q q 0 0 0 rg BT 495.97 478.10 Td (Act, as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (in the NYSE rules.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 442.10 Td (Among the criteria the committee uses in evaluating the suitability of individual nominees for our board \(whether such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (nominations are made by management, a stockholder or otherwise\), the committee considers each nominee) Tj ET Q q 0 0 0 rg BT 481.25 430.10 Td (s:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 406.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 406.10 Td (personal and professional integrity) Tj ET Q q 0 0 0 rg BT 223.92 406.10 Td (, experience and skills;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 382.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 382.10 Td (ability and willingness to devote the time and ef) Tj ET Q q 0 0 0 rg BT 278.00 382.10 Td (fort necessary to be an ef) Tj ET Q q 0 0 0 rg BT 378.05 382.10 Td (fective board member; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 358.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 358.10 Td (commitment to acting in our best interests and the best interests of our stockholders.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 334.10 Td (The committee also gives consideration to the diversity of the board of directors in terms of having an appropriate mix of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (experience, education and skills, to the requirements contained in our Charter and to each nominee) Tj ET Q q 0 0 0 rg BT 447.64 322.10 Td (s ability to exercise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (independence of thought, objective perspective and mature judgment and to understand our business operations and objectives. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (Moreover) Tj ET Q q 0 0 0 rg BT 89.03 298.10 Td (, as required by our Charter) Tj ET Q q 0 0 0 rg BT 198.59 298.10 Td (, a director other than an independent director must have at least three years of relevant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (experience demonstrating the knowledge and experience required to successfully acquire and manage the type of assets we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (acquire, and at least one of our independent directors must have at least three years of relevant real estate experience.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 250.10 Td (If the board of directors determines to seek additional directors for nomination, the Nominating and Corporate Governance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (Committee considers whether it is advisable to retain a third-party search firm to identify candidates. During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.82 238.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.82 238.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (committee paid no fees to third parties to assist in identifying or evaluating potential nominees. ) Tj ET Q q 0 0 0 rg BT 433.07 226.10 Td (The Nominating and Corporate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (Governance Committee also considers nominees timely submitted by stockholders under and in accordance with the provisions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (of our bylaw \(see Stockholder Proposals for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.73 202.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.73 202.10 Td ( ) Tj ET Q q 0 0 0 rg BT 269.68 202.10 Td (Annual Meeting below\). ) Tj ET Q q 0 0 0 rg BT 374.10 202.10 Td (A) Tj ET Q q 0 0 0 rg BT 380.77 202.10 Td ( stockholder) Tj ET Q q 0 0 0 rg BT 430.29 202.10 Td () Tj ET Q q 0 0 0 rg BT 433.07 202.10 Td (s notice must set forth specified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (information as to each person whom the stockholder proposes to nominate for election to the board, including all information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (relating to such person that is required to be disclosed in solicitations of proxies for election of directors in an election contest, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (or is otherwise required, by Regulation 14A) Tj ET Q q 0 0 0 rg BT 225.24 166.10 Td ( under the Exchange ) Tj ET Q q 0 0 0 rg BT 309.10 166.10 Td (Act \(including such person) Tj ET Q q 0 0 0 rg BT 419.91 166.10 Td (s written consent to being named ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (in the proxy statement as a nominee and to serve as a director if elected\). ) Tj ET Q q 0 0 0 rg BT 343.59 154.10 Td (The Nominating and Corporate Governance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (Committee will consider all such nominees and will take into account all factors the committee determines are relevant, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (including the factors summarized above.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 106.10 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.83 106.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.83 106.10 Td (, the Nominating and Corporate Governance Committee held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.71 106.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.69 106.10 Td ( meetings. ) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Conflicts Committee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 718.25 Td (The Conflicts Committee reviews and approves specific matters that our board of directors believes may involve conflicts of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (interest to determine whether the resolution of the conflict of interest is fair and reasonable to us and our stockholders. ) Tj ET Q q 0 0 0 rg BT 525.51 706.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (Conflicts Committee is responsible for reviewing and approving the terms of all transactions between us and Hines or its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 682.25 Td (filiates or any member of our board of directors, including \(when applicable\) the economic, structural and other terms of all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (acquisitions and dispositions and the annual renewal of the advisory agreement \(the Advisory ) Tj ET Q q 0 0 0 rg BT 430.74 670.25 Td (Agreement\) between us and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (our ) Tj ET Q q 0 0 0 rg BT 65.28 658.25 Td (Advisor) Tj ET Q q 0 0 0 rg BT 96.95 658.25 Td (. ) Tj ET Q q 0 0 0 rg BT 101.77 658.25 Td (The Conflicts Committee is also responsible for reviewing and approving each purchase or lease by us of property ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (from an af) Tj ET Q q 0 0 0 rg BT 91.46 646.25 Td (filiate or purchase or lease by an af) Tj ET Q q 0 0 0 rg BT 231.49 646.25 Td (filiate from us. ) Tj ET Q q 0 0 0 rg BT 292.96 646.25 Td (The Conflicts Committee is responsible for reviewing our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (Advisor) Tj ET Q q 0 0 0 rg BT 82.59 634.25 Td () Tj ET Q q 0 0 0 rg BT 85.37 634.25 Td (s performance and the fees and expenses paid by us to our ) Tj ET Q q 0 0 0 rg BT 319.74 634.25 Td (Advisor and any of its af) Tj ET Q q 0 0 0 rg BT 418.71 634.25 Td (filiates. ) Tj ET Q q 0 0 0 rg BT 450.74 634.25 Td (The review of such fees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (and expenses is required to be performed with suf) Tj ET Q q 0 0 0 rg BT 249.20 622.25 Td (ficient frequency) Tj ET Q q 0 0 0 rg BT 316.57 622.25 Td (, but at least annually) Tj ET Q q 0 0 0 rg BT 401.18 622.25 Td (, to determine that the expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (incurred are in the best interest of our stockholders. ) Tj ET Q q 0 0 0 rg BT 258.09 610.25 Td (The Conflicts Committee is also responsible for reviewing Hines) Tj ET Q q 0 0 0 rg BT 520.63 610.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (performance as property manager of our directly owned properties. ) Tj ET Q q 0 0 0 rg BT 320.82 598.25 Td (The Conflicts Committee is also responsible for evaluating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (various strategic alternatives to execute a liquidity event.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 562.25 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.83 562.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.83 562.25 Td (, the Conflicts Committee held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.37 562.25 Td (fifteen) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.46 562.25 Td ( meetings. ) Tj ET Q q 0 0 0 rg BT 307.38 562.25 Td (The Conflicts Committee has reviewed our policies and reports ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (that they are being followed by us and are in the best interests of our stockholders. Please read Certain Relationships and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (Related ) Tj ET Q q 0 0 0 rg BT 82.86 538.25 Td (T) Tj ET Q q 0 0 0 rg BT 88.62 538.25 Td (ransactions - Policies and Procedures for Review of Related Party ) Tj ET Q q 0 0 0 rg BT 354.47 538.25 Td (T) Tj ET Q q 0 0 0 rg BT 360.23 538.25 Td (ransactions. ) Tj ET Q q 0 0 0 rg BT 414.47 538.25 Td (The Conflicts Committee reviewed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (each of the material transactions between Hines and its af) Tj ET Q q 0 0 0 rg BT 280.00 526.25 Td (filiates and the Company) Tj ET Q q 0 0 0 rg BT 379.61 526.25 Td (, which occurred during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.63 526.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.63 526.25 Td (. ) Tj ET Q q 0 0 0 rg BT 502.45 526.25 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (transactions are described in Certain Relationships and Related ) Tj ET Q q 0 0 0 rg BT 309.18 514.25 Td (T) Tj ET Q q 0 0 0 rg BT 314.94 514.25 Td (ransactions below) Tj ET Q q 0 0 0 rg BT 390.65 514.25 Td (. ) Tj ET Q q 0 0 0 rg BT 395.47 514.25 Td (The Conflicts Committee has determined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (that all our transactions and relationships with Hines and its af) Tj ET Q q 0 0 0 rg BT 299.21 502.25 Td (filiates during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.53 502.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.53 502.25 Td ( were fair and were approved in accordance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (with the policies referenced in Certain Relationship and Related ) Tj ET Q q 0 0 0 rg BT 312.78 490.25 Td (T) Tj ET Q q 0 0 0 rg BT 318.54 490.25 Td (ransactions below) Tj ET Q q 0 0 0 rg BT 394.25 490.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (Compensation Committee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 442.25 Td (The Compensation Committee) Tj ET Q q 0 0 0 rg BT 184.54 442.25 Td (s primary purpose is to oversee our compensation programs. ) Tj ET Q q 0 0 0 rg BT 428.19 442.25 Td (The committee generally reviews ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (and approves or recommends to our board of directors the compensation and benefits for our independent directors. ) Tj ET Q q 0 0 0 rg BT 514.67 430.25 Td (W) Tj ET Q q 0 0 0 rg BT 523.31 430.25 Td (e do not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (pay our non-independent directors for their service as directors. In the event we hire employees, our Compensation Committee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (will review and approve the compensation for our executive of) Tj ET Q q 0 0 0 rg BT 301.12 406.25 Td (ficers, as well as any employment, severance and termination ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (agreements or arrangements made with any executive of) Tj ET Q q 0 0 0 rg BT 275.56 394.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 293.32 394.25 Td (. During 2015, the Conflicts Committee engaged FPL) Tj ET Q q 0 0 0 rg BT 507.65 394.25 Td ( ) Tj ET Q q 0 0 0 rg BT 509.59 394.25 Td (Associates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (L.P) Tj ET Q q 0 0 0 rg BT 63.06 382.25 Td (., an independent compensation consultant, to provide a recommendation with respect to the compensation to be paid to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (members of the Conflicts Committee based on comparable committee compensation structures, market research and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (consultant) Tj ET Q q 0 0 0 rg BT 93.88 358.25 Td (s prior experience.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 334.25 Td (The Compensation Committee may form and delegate authority to subcommittees consisting of one or more members when ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (appropriate, provided that the decision of such subcommittee shall be presented to the full Compensation Committee at its next ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (meeting. During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.04 310.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.04 310.25 Td (, the Compensation Committee held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.69 310.25 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.35 310.25 Td ( meetings. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (Code of Business Conduct and Ethics) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 262.25 Td (Our board of directors has adopted a Code of Business Conduct and Ethics, which is applicable to our directors and of) Tj ET Q q 0 0 0 rg BT 531.76 262.25 Td (ficers, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (including our principal executive of) Tj ET Q q 0 0 0 rg BT 193.11 250.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 211.02 250.25 Td (, principal financial of) Tj ET Q q 0 0 0 rg BT 299.69 250.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 317.61 250.25 Td (, principal accounting of) Tj ET Q q 0 0 0 rg BT 415.17 250.25 Td (ficer or controller and other persons ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (performing similar functions, whether acting in their capacities as our of) Tj ET Q q 0 0 0 rg BT 339.45 238.25 Td (ficers or in their capacities as of) Tj ET Q q 0 0 0 rg BT 466.99 238.25 Td (ficers of our ) Tj ET Q q 0 0 0 rg BT 517.80 238.25 Td (Advisor or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (its general partner) Tj ET Q q 0 0 0 rg BT 121.64 226.25 Td (. ) Tj ET Q q 0 0 0 rg BT 126.46 226.25 Td (The Code of Business Conduct and Ethics covers topics including conflicts of interest, confidentiality of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (information, full and fair disclosure, reporting of violations and compliance with laws and regulations. Our Code of Business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (Conduct and Ethics is available, free of char) Tj ET Q q 0 0 0 rg BT 226.97 202.25 Td (ge, on the Corporate Governance section of our website,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 452.45 202.25 Td ( www) Tj ET Q q 0 0 0 rg BT 474.22 202.25 Td (.hinessecurities.com/) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (r) Tj ET Q q 0 0 0 rg BT 53.52 190.25 Td (eits/hines-global-r) Tj ET Q q 0 0 0 rg BT 127.03 190.25 Td (eit/corporate-governance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.22 190.25 Td (/. ) Tj ET Q q 0 0 0 rg BT 236.63 190.25 Td (Y) Tj ET Q q 0 0 0 rg BT 242.85 190.25 Td (ou may also obtain a copy of this code by writing to: Hines Global REIT) Tj ET Q q 0 0 0 rg BT 533.73 190.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (Investor Relations, 2800 Post Oak Boulevard, Suite 5000, Houston, ) Tj ET Q q 0 0 0 rg BT 322.86 178.25 Td (T) Tj ET Q q 0 0 0 rg BT 328.27 178.25 Td (exas 77056-61) Tj ET Q q 0 0 0 rg BT 386.49 178.25 Td (18. ) Tj ET Q q 0 0 0 rg BT 401.31 178.25 Td (W) Tj ET Q q 0 0 0 rg BT 409.95 178.25 Td (aivers from our Code of Business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (Conduct and Ethics are discouraged, but any waivers from the Code of Business Conduct and Ethics that relate to any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (executive of) Tj ET Q q 0 0 0 rg BT 98.96 154.25 Td (ficer or director must be approved by our Nominating and Corporate Governance Committee and will be posted on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (our website at ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 108.59 142.25 Td (www) Tj ET Q q 0 0 0 rg BT 127.86 142.25 Td (.hinessecurities.com/r) Tj ET Q q 0 0 0 rg BT 215.25 142.25 Td (eits/hines-global-r) Tj ET Q q 0 0 0 rg BT 288.76 142.25 Td (eit/corporate-governance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.95 142.25 Td (/ within four business days of any such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (waiver) Tj ET Q q 0 0 0 rg BT 76.66 130.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (Compensation Committee Interlocks and Insider) Tj ET Q q 0 0 0 rg BT 258.71 106.25 Td ( Participation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 82.25 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.83 82.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.83 82.25 Td (, our Compensation Committee consisted of Messrs. Farley) Tj ET Q q 0 0 0 rg BT 346.65 82.25 Td (, Mitchell, Moody and Shaper) Tj ET Q q 0 0 0 rg BT 466.23 82.25 Td (, our four independent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (directors. None of our executive of) Tj ET Q q 0 0 0 rg BT 189.77 70.25 Td (ficers served as a director or member of the compensation committee of an entity whose ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (executive of) Tj ET Q q 0 0 0 rg BT 98.96 58.25 Td (ficers included a member of our board of directors or Compensation Committee.) Tj ET Q endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Board Leadership Structur) Tj ET Q q 0 0 0 rg BT 166.49 742.25 Td (e and Role in Risk Oversight) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 718.25 Td (W) Tj ET Q q 0 0 0 rg BT 67.64 718.25 Td (e separate the roles of Chief Executive Of) Tj ET Q q 0 0 0 rg BT 234.88 718.25 Td (ficer and Chairman of our board of directors in recognition of the dif) Tj ET Q q 0 0 0 rg BT 509.61 718.25 Td (ferences ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (between the two roles. Sherri ) Tj ET Q q 0 0 0 rg BT 169.23 706.25 Td (W) Tj ET Q q 0 0 0 rg BT 177.75 706.25 Td (. Schugart, as our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 327.52 706.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 345.44 706.25 Td (, is responsible for overall management of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (business strategy and day-to-day operations, while Mr) Tj ET Q q 0 0 0 rg BT 266.34 694.25 Td (. Hines, as our Chairman, presides over meetings of our board of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (directors and provides guidance to Ms. Schugart regarding policies and procedures approved by our board of directors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 658.25 Td (Our board of directors has determined that four of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.15 658.25 Td (seven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.92 658.25 Td ( members of our board of directors are independent within the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (standards of the NYSE, and each of our committees is comprised entirely of our independent directors. Each committee is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (given significant responsibility to oversee our governance policies and procedures and remains actively involved in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (oversight of risk management and assessment. Our board of directors receives periodic presentations from our executive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 610.25 Td (ficers regarding our compliance with our corporate governance practices. ) Tj ET Q q 0 0 0 rg BT 353.39 610.25 Td (While our board of directors maintains oversight ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (responsibility) Tj ET Q q 0 0 0 rg BT 103.79 598.25 Td (, management is responsible for our day-to-day risk management processes. Our board of directors believes this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (division of responsibility is the most ef) Tj ET Q q 0 0 0 rg BT 205.92 586.25 Td (fective approach for addressing the risks we face.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.85 562.25 Td (DIRECT) Tj ET Q q 0 0 0 rg BT 275.57 562.25 Td (OR COMPENSA) Tj ET Q q 0 0 0 rg BT 349.55 562.25 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 538.25 Td (Our Compensation Committee designs our director compensation with the goals of attracting and retaining highly qualified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (individuals to serve as independent directors and to fairly compensate them for their time and ef) Tj ET Q q 0 0 0 rg BT 433.86 526.25 Td (forts. Because of our unique ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (attributes as an externally-managed REIT) Tj ET Q q 0 0 0 rg BT 215.86 514.25 Td (, service as an independent director on our board requires a substantial time ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (commitment. ) Tj ET Q q 0 0 0 rg BT 105.37 502.25 Td (The Compensation Committee balances these considerations with the principles that our independent director ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (compensation program should be transparent and, in part, should align directors) Tj ET Q q 0 0 0 rg BT 371.95 490.25 Td ( interests with those of our stockholders.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 466.25 Td (The following table sets forth information regarding compensation paid to or earned by our directors during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.77 466.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.77 466.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 244.80 442.25 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.80 442.25 Td ( Dir) Tj ET Q q 0 0 0 rg BT 281.56 442.25 Td (ector) Tj ET Q q 0 0 0 rg BT 303.02 442.25 Td ( Compensation) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 357.75 87.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 136.50 357.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.50 357.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.50 357.75 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 357.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 357.75 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 357.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 357.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 327.75 87.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 136.50 327.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.50 327.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.50 327.75 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 327.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 327.75 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 327.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 327.75 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 297.75 87.00 -47.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 136.50 297.75 51.00 -47.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.50 297.75 57.00 -47.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.50 297.75 40.00 -47.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 297.75 70.00 -47.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 297.75 71.00 -47.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 297.75 68.00 -47.00 re f /GS0 gs 0.8 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m 354.5 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 357.75 m 425.5 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 357.75 m 493.5 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 357.75 m 561.5 357.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 362.43 Td (Name) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 152.05 392.43 Td (Fees) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.75 382.43 Td (Earned or) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 146.35 372.43 Td (Paid in) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 150.65 362.43 Td (Cash) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 193.65 382.43 Td (Aggr) Tj ET Q q 0 0 0 rg BT 215.13 382.43 Td (egate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.55 372.43 Td (Stock ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 190.35 362.43 Td (A) Tj ET Q q 0 0 0 rg BT 196.83 362.43 Td (wards ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 225.44 366.96 Td (\(1\)\(2\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.95 372.43 Td (Option) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 247.70 362.43 Td (Awards) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 293.95 382.43 Td (Non-Equity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.30 372.43 Td (Incentive Plan) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.15 362.43 Td (Compensation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.65 422.43 Td (Change in) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.60 412.43 Td (Pension Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.60 402.43 Td (and Non-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.45 392.43 Td (Qualified) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.40 382.43 Td (Deferred) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.65 372.43 Td (Compensation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.00 362.43 Td (Earnings) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.65 372.43 Td (All Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.15 362.43 Td (Compensation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.05 372.43 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 362.43 Td (Compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 347.42 Td (Jack L. Farley) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 347.42 Td ($112,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.25 347.42 Td ($25,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.50 347.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.50 347.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 347.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 347.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.25 347.42 Td ($137,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 332.42 Td (Thomas L. Mitchell) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 332.42 Td ($104,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.25 332.42 Td ($25,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.50 332.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.50 332.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 332.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 332.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.25 332.42 Td ($129,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 317.42 Td (John S. Moody) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 317.42 Td ($123,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.25 317.42 Td ($25,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.50 317.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.50 317.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 317.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 317.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.25 317.42 Td ($148,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 302.42 Td (Peter Shaper) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.75 302.42 Td ($107,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.25 302.42 Td ($25,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.50 302.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.50 302.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 302.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 302.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.25 302.42 Td ($132,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 285.42 Td (Jef) Tj ET Q q 0 0 0 rg BT 63.48 285.42 Td (fery C. Hines, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 275.42 Td (Colin P) Tj ET Q q 0 0 0 rg BT 81.18 275.42 Td (. Shepherd ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 265.42 Td (and Charles M. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 255.42 Td (Baughn ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 85.61 259.95 Td (\(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.00 255.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.00 255.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.50 255.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.50 255.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 255.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 255.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.50 255.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 227.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 227.25 Td (Each of Messrs. Farley) Tj ET Q q 0 0 0 rg BT 177.55 227.25 Td (, Mitchell, Moody and Shaper received 2648.305 restricted common shares upon his election to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 215.25 Td (our board of directors following our 2015 annual meeting. ) Tj ET Q q 0 0 0 rg BT 321.32 215.25 Td (The shares were issued without registration under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 203.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 127.38 203.25 Td (Act of 1933, as amended \(the Securities ) Tj ET Q q 0 0 0 rg BT 293.44 203.25 Td (Act\), in reliance upon the exemption from registration contained ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 191.25 Td (in Section 4\(a\)\(2\) of the Securities ) Tj ET Q q 0 0 0 rg BT 225.96 191.25 Td (Act for transactions not involving any public of) Tj ET Q q 0 0 0 rg BT 416.02 191.25 Td (fering.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 167.25 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 167.25 Td (The value of common stock awards was calculated based on the estimated net asset value, or NA) Tj ET Q q 0 0 0 rg BT 472.64 167.25 Td (V) Tj ET Q q 0 0 0 rg BT 478.57 167.25 Td (, of $9.44 per share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 155.25 Td (as of December 31, 2014, which was the estimated NA) Tj ET Q q 0 0 0 rg BT 304.93 155.25 Td (V) Tj ET Q q 0 0 0 rg BT 311.97 155.25 Td ( per share most recently determined by our board of directors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 143.25 Td (prior to the September 29, 2015 grant date of the awards. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 119.25 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 119.25 Td (Messrs. Hines, Shepherd and Baughn, who are employees of Hines, receive no compensation for serving as members ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 107.25 Td (of our board of directors. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 83.25 Td (W) Tj ET Q q 0 0 0 rg BT 67.64 83.25 Td (e paid our independent directors an annual fee of $40,000, and a fee of $2,000 for each meeting of the board \(or any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.25 Td (committee thereof\) attended in person. ) Tj ET Q q 0 0 0 rg BT 209.48 71.25 Td (W) Tj ET Q q 0 0 0 rg BT 218.12 71.25 Td (e paid each of our independent directors a fee of $750 for each board or committee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.25 Td (meeting attended via teleconference, regardless of its length. In the event that a committee meeting was held on the same day ) Tj ET Q endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (as a meeting of our board of directors, each independent director received $1,500 for each committee meeting attended in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (person on such day) Tj ET Q q 0 0 0 rg BT 126.28 730.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 706.10 Td (W) Tj ET Q q 0 0 0 rg BT 67.64 706.10 Td (e paid the following annual retainers to the Chairpersons of our board committees for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.43 706.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.43 706.10 Td (:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td ($7,500 to the Chairperson of the Conflicts Committee;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.10 Td ($10,000 to the Chairperson of the ) Tj ET Q q 0 0 0 rg BT 222.37 658.10 Td (Audit Committee;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 634.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td ($5,000 to the Chairperson of the Compensation Committee; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 610.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.10 Td ($5,000 to the Chairperson of the Nominating and Corporate Governance Committee.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 586.10 Td (In addition to the annual retainers, beginning September 1, 2015, we paid the following monthly retainers to the members of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (the Conflicts Committee:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 550.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.10 Td ($7,500 to the Chairperson of the Conflicts Committee; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 526.10 Td ($5,000 to the other members of the Conflicts Committee.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 502.10 Td (All directors are reimbursed by us for reasonable out-of-pocket expenses incurred in connection with attendance at board or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (committee meetings.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 466.10 Td (Each independent director elected or reelected to the board \(whether through a stockholder meeting or by directors to fill a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (vacancy on the board\) will be granted $25,000 in restricted shares on or about the date of election or reelection. ) Tj ET Q q 0 0 0 rg BT 497.99 454.10 Td (These restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (shares will fully vest on the earlier to occur of: \(i\) the first anniversary of the applicable grant date, subject to the independent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (director serving continuously as an independent director through and until the first anniversary of the applicable grant date; \(ii\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (the termination of service as an independent director due to the independent director) Tj ET Q q 0 0 0 rg BT 387.47 418.10 Td () Tj ET Q q 0 0 0 rg BT 390.24 418.10 Td (s death or disability; or \(iii\) a change in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (control of the Company) Tj ET Q q 0 0 0 rg BT 144.61 406.10 Td (, subject to the independent director serving continuously through and until the date of the change in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (control of the Company) Tj ET Q q 0 0 0 rg BT 144.61 394.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.70 370.10 Td (EXECUTIVE OFFICERS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 346.10 Td (Listed below are our current executive of) Tj ET Q q 0 0 0 rg BT 223.75 346.10 Td (ficers, each of whom has been elected to serve until our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.66 346.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.66 346.10 Td ( annual meeting of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (stockholders, or \(if longer\) until a qualified successor has been duly elected. ) Tj ET Q q 0 0 0 rg BT 359.44 334.10 Td (The business address of each of our executive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 322.10 Td (ficers is: c/o Hines Global REIT) Tj ET Q q 0 0 0 rg BT 186.54 322.10 Td (, Inc., 2800 Post Oak Boulevard, Suite 5000, Houston, ) Tj ET Q q 0 0 0 rg BT 406.63 322.10 Td (T) Tj ET Q q 0 0 0 rg BT 412.04 322.10 Td (exas 77056-61) Tj ET Q q 0 0 0 rg BT 470.26 322.10 Td (18.) Tj ET Q endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (17) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 734.5 m 207.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 734.5 m 247.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257.5 734.5 m 561.5 734.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 739.18 Td (Name and Title) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.65 739.18 Td (Age) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.10 739.18 Td (Experience) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 725.23 Td (Sherri ) Tj ET Q q 0 0 0 rg BT 81.54 725.23 Td (W) Tj ET Q q 0 0 0 rg BT 90.62 725.23 Td (. Schugart,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 714.23 Td (Pr) Tj ET Q q 0 0 0 rg BT 62.37 714.23 Td (esident and Chief Executive ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 704.23 Td (Officer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 725.07 Td (50) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 725.41 Td (Ms. Schugart joined Hines in 1995. In February 2016, Ms. Schugart was) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 714.01 Td (appointed as a member of Hines Executive Committee. Ms. Schugart has) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 702.61 Td (served as President and Chief Executive Officer for us and for the general) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 691.21 Td (partner of our Advisor since March 2013. Ms. Schugart has also served as) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 679.81 Td (President and Chief Executive Officer for Hines REIT, the general partner of) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 668.41 Td (HALP and the Core Fund, since March 2013. Ms. Schugart has also served) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 657.01 Td (as President and Chief Executive Officer for Hines Global REIT II and the) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 645.61 Td (general partner of HGRIIALP since August 2013. Also since March 2013,) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 634.21 Td (Ms. Schugart has served as the President and Chief Executive Officer of HMS) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 622.81 Td (and HMS Adviser GP LLC \(the HMS GP\), the general partner of the) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 611.41 Td (adviser to HMS. Additionally, in February 2014, Ms. Schugart was appointed) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 600.01 Td (as the Chairperson of the board of directors of HMS. HMS is a public) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 588.61 Td (specialty finance company sponsored by Hines, which was formed in 2011) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 577.21 Td (and intends to make debt and equity investments in companies with revenues) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 565.81 Td (generally between $10 million and $3 billion that operate in diverse) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 554.41 Td (industries. Prior to March 2013, Ms. Schugart had served as the Chief) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 543.01 Td (Operating Officer for us and the general partner of our Advisor and as the) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 531.61 Td (Chief Operating Officer of Hines REIT, the general partner of HALP and the) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 520.21 Td (Core Fund since November 2011. In these roles, Ms. Schugart was) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 508.81 Td (responsible for the execution of each entitys business plan and oversight of) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 497.41 Td (day-to-day business operations, including issues related to portfolio strategy,) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 486.01 Td (asset management and all other operational and financial matters of each) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 474.61 Td (entity. Ms. Schugart also served as Chief Financial Officer for us and the) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 463.21 Td (general partner of our Advisor from inception in December 2008 through) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 451.81 Td (October 2011. Ms. Schugart also served as the Chief Financial Officer for) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 440.41 Td (Hines REIT and the general partner of HALP from August 2003 through) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 429.01 Td (October 2011 and as the Chief Financial Officer of the Core Fund from July) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 417.61 Td (2004 through October 2011. In these roles, her responsibilities included) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 406.21 Td (oversight of financial and portfolio management, equity and debt financing) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 394.86 Td (activities, investor relations, accounting, financial reporting, compliance and) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 383.46 Td (administrative functions in the U.S. and internationally. She has also been a) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 372.06 Td (Senior Managing Director of the general partner of Hines since October 2007) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 360.66 Td (and has served as a director of the Dealer Manager since August 2003. Prior) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 349.26 Td (to holding these positions, she was a Vice President in Hines Capital Markets) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 337.86 Td (Group raising equity and debt financing for various Hines investment vehicles) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 326.46 Td (in the U.S. and internationally. Ms. Schugart has been responsible for) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 315.06 Td (arranging and managing more than $10 billion in equity and debt for Hines) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 303.66 Td (public and private investment funds. Prior to joining Hines, Ms. Schugart) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 292.26 Td (spent eight years with Arthur Andersen LLP, where she served both public) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 280.86 Td (and private clients in the real estate, construction, finance and banking) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 269.46 Td (industries. She holds a Bachelor of Business Administration degree in) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 260.00 258.06 Td (Accounting from Southwest Texas State University.) Tj ET Q endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (18) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 734.5 m 207.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 734.5 m 247.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257.5 734.5 m 561.5 734.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 739.18 Td (Name and Title) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.65 739.18 Td (Age) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.10 739.18 Td (Experience) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 725.23 Td (R) Tj ET Q q 0 0 0 rg BT 58.87 725.23 Td (yan ) Tj ET Q q 0 0 0 rg BT 76.75 725.23 Td (T) Tj ET Q q 0 0 0 rg BT 82.68 725.23 Td (. Sims,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 714.23 Td (Chief Financial Officer) Tj ET Q q 0 0 0 rg BT 150.69 714.23 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 704.23 Td (Secr) Tj ET Q q 0 0 0 rg BT 70.70 704.23 Td (etary) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 725.07 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 725.07 Td (Mr) Tj ET Q q 0 0 0 rg BT 271.67 725.07 Td (. Sims joined Hines in ) Tj ET Q q 0 0 0 rg BT 362.23 725.07 Td (August 2003. Since November 201) Tj ET Q q 0 0 0 rg BT 502.68 725.07 Td (1, Mr) Tj ET Q q 0 0 0 rg BT 524.35 725.07 Td (. Sims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 713.07 Td (has served as the Chief Financial Of) Tj ET Q q 0 0 0 rg BT 404.78 713.07 Td (ficer and Secretary for us and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 701.07 Td (general partner of our ) Tj ET Q q 0 0 0 rg BT 348.85 701.07 Td (Advisor) Tj ET Q q 0 0 0 rg BT 380.52 701.07 Td (. Since November 201) Tj ET Q q 0 0 0 rg BT 472.07 701.07 Td (1, Mr) Tj ET Q q 0 0 0 rg BT 493.74 701.07 Td (. Sims has also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 689.07 Td (served as the Chief Financial Of) Tj ET Q q 0 0 0 rg BT 388.95 689.07 Td (ficer and Secretary of Hines REIT) Tj ET Q q 0 0 0 rg BT 525.09 689.07 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 677.07 Td (general partner of HALP) Tj ET Q q 0 0 0 rg BT 359.31 677.07 Td ( and the Core Fund. ) Tj ET Q q 0 0 0 rg BT 442.92 677.07 Td (Also since 201) Tj ET Q q 0 0 0 rg BT 501.98 677.07 Td (1, Mr) Tj ET Q q 0 0 0 rg BT 523.65 677.07 Td (. Sims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 665.07 Td (has served as the Chief Financial Of) Tj ET Q q 0 0 0 rg BT 404.78 665.07 Td (ficer and Secretary of HMS and of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 653.07 Td (general partner of the adviser to HMS. Since ) Tj ET Q q 0 0 0 rg BT 443.28 653.07 Td (August 2013, Mr) Tj ET Q q 0 0 0 rg BT 511.34 653.07 Td (. Sims has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 641.07 Td (served as the Chief Financial Of) Tj ET Q q 0 0 0 rg BT 388.95 641.07 Td (ficer and Secretary of Hines Global REIT) Tj ET Q q 0 0 0 rg BT 555.37 641.07 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 629.07 Td (II and the general partner of HGRIIALP) Tj ET Q q 0 0 0 rg BT 419.94 629.07 Td (. In these roles, Mr) Tj ET Q q 0 0 0 rg BT 497.43 629.07 Td (. Sims is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 617.07 Td (responsible for the oversight of financial operations, equity and debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 605.07 Td (financing activities, investor relations, accounting, financial reporting, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 593.07 Td (tax, legal, compliance and administrative functions in the U.S. and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 581.07 Td (internationally) Tj ET Q q 0 0 0 rg BT 317.67 581.07 Td (. From December 2008 until November 201) Tj ET Q q 0 0 0 rg BT 493.09 581.07 Td (1, Mr) Tj ET Q q 0 0 0 rg BT 514.76 581.07 Td (. Sims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 569.07 Td (served as the Chief ) Tj ET Q q 0 0 0 rg BT 338.31 569.07 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 397.84 569.07 Td (ficer for us and the general partner of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 557.07 Td (our ) Tj ET Q q 0 0 0 rg BT 275.28 557.07 Td (Advisor) Tj ET Q q 0 0 0 rg BT 306.95 557.07 Td (. From ) Tj ET Q q 0 0 0 rg BT 335.57 557.07 Td (April 2008 until November 201) Tj ET Q q 0 0 0 rg BT 461.85 557.07 Td (1, Mr) Tj ET Q q 0 0 0 rg BT 483.52 557.07 Td (. Sims also served ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 545.07 Td (as the Chief ) Tj ET Q q 0 0 0 rg BT 309.71 545.07 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 369.24 545.07 Td (ficer of Hines REIT) Tj ET Q q 0 0 0 rg BT 448.19 545.07 Td (, the general partner of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 533.07 Td (HALP) Tj ET Q q 0 0 0 rg BT 285.74 533.07 Td ( and the Core Fund. In these roles, he was responsible for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 521.07 Td (oversight of the accounting, financial reporting and SEC reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 509.07 Td (functions, as well as the Sarbanes-Oxley compliance program in the U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 497.07 Td (and internationally) Tj ET Q q 0 0 0 rg BT 334.60 497.07 Td (. He was also responsible for establishing the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 485.07 Td (companies) Tj ET Q q 0 0 0 rg BT 305.35 485.07 Td ( accounting policies and ensuring compliance with those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 473.07 Td (policies in the U.S. and internationally) Tj ET Q q 0 0 0 rg BT 413.49 473.07 Td (. He has also previously served as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 461.07 Td (Senior Controller for Hines REIT) Tj ET Q q 0 0 0 rg BT 394.24 461.07 Td ( and the general partner of its advisor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 449.07 Td (from ) Tj ET Q q 0 0 0 rg BT 281.39 449.07 Td (August 2003 to ) Tj ET Q q 0 0 0 rg BT 345.00 449.07 Td (April 2008 and the Core Fund from July 2004 to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 437.07 Td (April 2008. Prior to joining Hines, Mr) Tj ET Q q 0 0 0 rg BT 412.22 437.07 Td (. Sims was a manager in the audit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 425.07 Td (practice of ) Tj ET Q q 0 0 0 rg BT 304.42 425.07 Td (Arthur ) Tj ET Q q 0 0 0 rg BT 333.03 425.07 Td (Andersen LLP) Tj ET Q q 0 0 0 rg BT 391.25 425.07 Td ( and Deloitte & ) Tj ET Q q 0 0 0 rg BT 455.50 425.07 Td (T) Tj ET Q q 0 0 0 rg BT 460.91 425.07 Td (ouche LLP) Tj ET Q q 0 0 0 rg BT 503.96 425.07 Td (, serving ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 413.07 Td (clients primarily in the real estate industry) Tj ET Q q 0 0 0 rg BT 428.19 413.07 Td (. He holds a Bachelor of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 401.07 Td (Business ) Tj ET Q q 0 0 0 rg BT 297.51 401.07 Td (Administration degree in ) Tj ET Q q 0 0 0 rg BT 399.43 401.07 Td (Accounting from Baylor University ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 389.07 Td (and is a certified public accountant.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 347.23 Td (David L. Steinbach,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 336.23 Td (Chief Investment Officer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 347.07 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 347.07 Td (Mr) Tj ET Q q 0 0 0 rg BT 271.67 347.07 Td (. Steinbach joined Hines in 1999.Mr) Tj ET Q q 0 0 0 rg BT 418.88 347.07 Td (. Steinbach has served as the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 335.07 Td (Chief Investment Of) Tj ET Q q 0 0 0 rg BT 342.02 335.07 Td (ficer for us and the general partner of our ) Tj ET Q q 0 0 0 rg BT 508.89 335.07 Td (Advisor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 323.07 Td (since July 2014. Mr) Tj ET Q q 0 0 0 rg BT 341.39 323.07 Td (. Steinbach has also served as the Chief Investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 311.07 Td (Of) Tj ET Q q 0 0 0 rg BT 270.37 311.07 Td (ficer for Hines Global REIT) Tj ET Q q 0 0 0 rg BT 382.93 311.07 Td ( II and the general partner of HGRIIALP) Tj ET Q q 0 0 0 rg BT 546.11 311.07 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 299.07 Td (since July 2014. In these roles, he is responsible for management of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 287.07 Td (real estate acquisition program in the U.S. and internationally) Tj ET Q q 0 0 0 rg BT 505.39 287.07 Td (. He has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 275.07 Td (served as a Managing Director of the general partner of Hines since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 263.07 Td (February 201) Tj ET Q q 0 0 0 rg BT 313.23 263.07 Td (1. He has been responsible for the acquisition of over $4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 251.07 Td (billion in assets for various Hines af) Tj ET Q q 0 0 0 rg BT 404.24 251.07 Td (filiates in the U.S. and internationally) Tj ET Q q 0 0 0 rg BT 553.83 251.07 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 239.07 Td (Prior to this role he served in various roles in which he was responsible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 227.07 Td (for acquisitions, asset management and property dispositions on behalf of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 215.07 Td (Hines REIT) Tj ET Q q 0 0 0 rg BT 307.30 215.07 Td (, Hines Global REIT) Tj ET Q q 0 0 0 rg BT 389.89 215.07 Td ( II and the Core Fund, both in the U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 203.07 Td (and internationally) Tj ET Q q 0 0 0 rg BT 334.60 203.07 Td (. He graduated from ) Tj ET Q q 0 0 0 rg BT 419.95 203.07 Td (T) Tj ET Q q 0 0 0 rg BT 425.36 203.07 Td (exas ) Tj ET Q q 0 0 0 rg BT 445.07 203.07 Td (A&M University with a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 191.07 Td (Bachelors and Masters in Business ) Tj ET Q q 0 0 0 rg BT 401.37 191.07 Td (Administration. ) Tj ET Q endstream endobj 47 0 obj <> endobj 48 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (19) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 733.5 m 207.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 733.5 m 247.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257.5 733.5 m 561.5 733.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 738.18 Td (Name and Title) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.65 738.18 Td (Age) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.10 738.18 Td (Experience) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 724.23 Td (Kevin L. McMeans,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 713.23 Td (Asset Management Officer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 724.07 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 724.07 Td (Mr) Tj ET Q q 0 0 0 rg BT 271.67 724.07 Td (. McMeans joined Hines in 1992. Since December 2008, Mr) Tj ET Q q 0 0 0 rg BT 515.23 724.07 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 712.07 Td (McMeans has served as the ) Tj ET Q q 0 0 0 rg BT 371.91 712.07 Td (Asset Management Of) Tj ET Q q 0 0 0 rg BT 461.71 712.07 Td (ficer for us and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 700.07 Td (general partner of our ) Tj ET Q q 0 0 0 rg BT 348.85 700.07 Td (Advisor) Tj ET Q q 0 0 0 rg BT 380.52 700.07 Td (. Mr) Tj ET Q q 0 0 0 rg BT 402.19 700.07 Td (. McMeans has also served as the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 688.07 Td (Asset Management Of) Tj ET Q q 0 0 0 rg BT 349.79 688.07 Td (ficer of Hines REIT) Tj ET Q q 0 0 0 rg BT 429.31 688.07 Td ( and the general partner of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 676.07 Td (HALP) Tj ET Q q 0 0 0 rg BT 285.74 676.07 Td ( since ) Tj ET Q q 0 0 0 rg BT 310.74 676.07 Td (April 2008. Mr) Tj ET Q q 0 0 0 rg BT 373.52 676.07 Td (. McMeans also has served as ) Tj ET Q q 0 0 0 rg BT 494.32 676.07 Td (Asset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 664.07 Td (Management Of) Tj ET Q q 0 0 0 rg BT 325.07 664.07 Td (ficer for Hines Global REIT) Tj ET Q q 0 0 0 rg BT 437.63 664.07 Td ( II and the general partner of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 652.07 Td (HGRIIALP) Tj ET Q q 0 0 0 rg BT 306.29 652.07 Td ( since ) Tj ET Q q 0 0 0 rg BT 331.29 652.07 Td (August 2013. He also has served as the ) Tj ET Q q 0 0 0 rg BT 492.37 652.07 Td (Asset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 640.07 Td (Management Of) Tj ET Q q 0 0 0 rg BT 325.07 640.07 Td (ficer of the Core Fund since January 2005. Since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 628.07 Td (February 2015, he has served as the Senior Managing Director of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 616.07 Td (Investment Management of the general partner of Hines. Prior to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 604.07 Td (February 2015, he also served as a Managing Director of Investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 592.07 Td (Management of the general partner of Hines. In these roles, he is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 580.07 Td (responsible for overseeing the management of the various investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 568.07 Td (properties owned by each of the funds in the U.S. and internationally) Tj ET Q q 0 0 0 rg BT 535.11 568.07 Td (. He ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 556.07 Td (previously served as the Chief Financial Of) Tj ET Q q 0 0 0 rg BT 433.66 556.07 Td (ficer of Hines Corporate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 544.07 Td (Properties, an investment venture established by Hines with a major U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 532.07 Td (pension fund, from 2001 through June 2004. In this role, Mr) Tj ET Q q 0 0 0 rg BT 500.81 532.07 Td (. McMeans ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 520.07 Td (was responsible for negotiating and closing debt financings, underwriting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 508.07 Td (and evaluating new investments, negotiating and closing sale transactions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 496.07 Td (and overseeing the administrative and financial reporting requirements of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 484.07 Td (the venture and its investors. Before joining Hines, Mr) Tj ET Q q 0 0 0 rg BT 477.74 484.07 Td (. McMeans spent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 472.07 Td (four and a half years at Deloitte & ) Tj ET Q q 0 0 0 rg BT 399.21 472.07 Td (T) Tj ET Q q 0 0 0 rg BT 404.62 472.07 Td (ouche LLP) Tj ET Q q 0 0 0 rg BT 448.40 472.07 Td ( in the audit department. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 460.07 Td (He graduated from ) Tj ET Q q 0 0 0 rg BT 337.84 460.07 Td (T) Tj ET Q q 0 0 0 rg BT 343.25 460.07 Td (exas ) Tj ET Q q 0 0 0 rg BT 362.97 460.07 Td (A&M University with a B.S. in Computer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 448.07 Td (Science.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 406.23 Td (J. Shea Morgenr) Tj ET Q q 0 0 0 rg BT 123.20 406.23 Td (oth,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 395.23 Td (Chief ) Tj ET Q q 0 0 0 rg BT 77.28 395.23 Td (Accounting Officer) Tj ET Q q 0 0 0 rg BT 159.02 395.23 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 385.23 Td (T) Tj ET Q q 0 0 0 rg BT 57.93 385.23 Td (r) Tj ET Q q 0 0 0 rg BT 62.19 385.23 Td (easur) Tj ET Q q 0 0 0 rg BT 85.33 385.23 Td (er) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 406.07 Td (41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 406.07 Td (Mr) Tj ET Q q 0 0 0 rg BT 271.67 406.07 Td (. Mor) Tj ET Q q 0 0 0 rg BT 293.71 406.07 Td (genroth joined Hines in October 2003. Since November 201) Tj ET Q q 0 0 0 rg BT 534.12 406.07 Td (1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 394.07 Td (Mr) Tj ET Q q 0 0 0 rg BT 271.67 394.07 Td (. Mor) Tj ET Q q 0 0 0 rg BT 293.71 394.07 Td (genroth has served as the Chief ) Tj ET Q q 0 0 0 rg BT 420.90 394.07 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 480.42 394.07 Td (ficer and ) Tj ET Q q 0 0 0 rg BT 518.00 394.07 Td (T) Tj ET Q q 0 0 0 rg BT 523.75 394.07 Td (reasurer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 382.07 Td (for us and the general partner of our ) Tj ET Q q 0 0 0 rg BT 406.05 382.07 Td (Advisor) Tj ET Q q 0 0 0 rg BT 437.72 382.07 Td (. Mr) Tj ET Q q 0 0 0 rg BT 454.39 382.07 Td (. Mor) Tj ET Q q 0 0 0 rg BT 476.44 382.07 Td (genroth has also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 370.07 Td (served as Chief ) Tj ET Q q 0 0 0 rg BT 323.59 370.07 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 383.12 370.07 Td (ficer and ) Tj ET Q q 0 0 0 rg BT 420.69 370.07 Td (T) Tj ET Q q 0 0 0 rg BT 426.45 370.07 Td (reasurer of Hines REIT) Tj ET Q q 0 0 0 rg BT 519.84 370.07 Td ( and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 358.07 Td (general partner of HALP) Tj ET Q q 0 0 0 rg BT 359.31 358.07 Td ( since November 201) Tj ET Q q 0 0 0 rg BT 444.19 358.07 Td (1. Mr) Tj ET Q q 0 0 0 rg BT 468.36 358.07 Td (. Mor) Tj ET Q q 0 0 0 rg BT 490.41 358.07 Td (genroth has also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 346.07 Td (served as Chief ) Tj ET Q q 0 0 0 rg BT 323.59 346.07 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 383.12 346.07 Td (ficer and ) Tj ET Q q 0 0 0 rg BT 420.69 346.07 Td (T) Tj ET Q q 0 0 0 rg BT 426.45 346.07 Td (reasurer for Hines Global REIT) Tj ET Q q 0 0 0 rg BT 552.89 346.07 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 334.07 Td (II and the general partner of HGRIIALP) Tj ET Q q 0 0 0 rg BT 420.68 334.07 Td ( since ) Tj ET Q q 0 0 0 rg BT 445.67 334.07 Td (August 2013. In these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 322.07 Td (roles, Mr) Tj ET Q q 0 0 0 rg BT 296.11 322.07 Td (. Mor) Tj ET Q q 0 0 0 rg BT 318.15 322.07 Td (genroth is responsible for the oversight of the treasury) Tj ET Q q 0 0 0 rg BT 534.11 322.07 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 310.07 Td (accounting, financial reporting and SEC reporting functions, as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 298.07 Td (the Sarbanes-Oxley compliance program in the U.S. and internationally) Tj ET Q q 0 0 0 rg BT 545.93 298.07 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 286.07 Td (Prior to his appointment, Mr) Tj ET Q q 0 0 0 rg BT 373.61 286.07 Td (. Mor) Tj ET Q q 0 0 0 rg BT 395.65 286.07 Td (genroth served as a Senior Controller ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 274.07 Td (for us and the general partner of our ) Tj ET Q q 0 0 0 rg BT 406.05 274.07 Td (Advisor from December 2008 until ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 262.07 Td (November 201) Tj ET Q q 0 0 0 rg BT 319.34 262.07 Td (1 and for Hines REIT) Tj ET Q q 0 0 0 rg BT 405.80 262.07 Td ( and the general partner of HALP) Tj ET Q q 0 0 0 rg BT 539.27 262.07 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 250.07 Td (from January 2008 until November 201) Tj ET Q q 0 0 0 rg BT 418.21 250.07 Td (1 and as a Controller for Hines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 238.07 Td (REIT) Tj ET Q q 0 0 0 rg BT 282.04 238.07 Td ( and HALP) Tj ET Q q 0 0 0 rg BT 327.22 238.07 Td ( from October 2003 to January 2008. In these roles, he ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 226.07 Td (was responsible for the management of the accounting, financial reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 214.07 Td (and SEC reporting functions. Prior to joining Hines, Mr) Tj ET Q q 0 0 0 rg BT 482.76 214.07 Td (. Mor) Tj ET Q q 0 0 0 rg BT 504.80 214.07 Td (genroth was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 202.07 Td (a manager in the audit practice of ) Tj ET Q q 0 0 0 rg BT 395.77 202.07 Td (Arthur ) Tj ET Q q 0 0 0 rg BT 424.38 202.07 Td (Andersen LLP) Tj ET Q q 0 0 0 rg BT 482.61 202.07 Td ( and Deloitte & ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 190.07 Td (T) Tj ET Q q 0 0 0 rg BT 265.41 190.07 Td (ouche LLP) Tj ET Q q 0 0 0 rg BT 308.46 190.07 Td (, serving clients primarily in the real estate industry) Tj ET Q q 0 0 0 rg BT 513.58 190.07 Td (. He holds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 178.07 Td (a Bachelor of Business ) Tj ET Q q 0 0 0 rg BT 353.87 178.07 Td (Administration degree in ) Tj ET Q q 0 0 0 rg BT 455.80 178.07 Td (Accounting from ) Tj ET Q q 0 0 0 rg BT 526.71 178.07 Td (T) Tj ET Q q 0 0 0 rg BT 532.12 178.07 Td (exas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 166.07 Td (A&M University and is a certified public accountant.) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 49 0 obj <> endobj 50 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 234.00 742.25 Td (EXECUTIVE COMPENSA) Tj ET Q q 0 0 0 rg BT 352.44 742.25 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 718.25 Td (W) Tj ET Q q 0 0 0 rg BT 67.64 718.25 Td (e have no employees. Our day-to-day management functions are performed by our ) Tj ET Q q 0 0 0 rg BT 400.02 718.25 Td (Advisor and its af) Tj ET Q q 0 0 0 rg BT 471.22 718.25 Td (filiates. ) Tj ET Q q 0 0 0 rg BT 502.88 718.25 Td (All of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (executive of) Tj ET Q q 0 0 0 rg BT 98.96 706.25 Td (ficers are employed by and receive compensation from our ) Tj ET Q q 0 0 0 rg BT 336.37 706.25 Td (Advisor or its af) Tj ET Q q 0 0 0 rg BT 401.46 706.25 Td (filiates, for all of their services to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (Hines or) Tj ET Q q 0 0 0 rg BT 83.98 694.25 Td (ganization, including their service as our executive of) Tj ET Q q 0 0 0 rg BT 298.16 694.25 Td (ficers. ) Tj ET Q q 0 0 0 rg BT 325.19 694.25 Td (The compensation received by our executive of) Tj ET Q q 0 0 0 rg BT 514.93 694.25 Td (ficers is not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (paid or determined by us, but rather by our ) Tj ET Q q 0 0 0 rg BT 223.29 682.25 Td (Advisor or af) Tj ET Q q 0 0 0 rg BT 276.43 682.25 Td (filiates of our ) Tj ET Q q 0 0 0 rg BT 332.25 682.25 Td (Advisor based on all the services provided by these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (individuals to the Hines or) Tj ET Q q 0 0 0 rg BT 155.92 670.25 Td (ganization, including us. ) Tj ET Q q 0 0 0 rg BT 256.18 670.25 Td (As a result, we do not have and our compensation committee has not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (considered, a compensation policy or program for our executive of) Tj ET Q q 0 0 0 rg BT 316.95 658.25 Td (ficers and have not included a Compensation Discussion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.39 646.25 Td (Analysis, or Compensation Committee Report in this proxy statement. See Certain Relationships and Related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.76 634.25 Td (ransactions below for a discussion of fees and expenses payable to our ) Tj ET Q q 0 0 0 rg BT 344.00 634.25 Td (Advisor and its af) Tj ET Q q 0 0 0 rg BT 415.20 634.25 Td (filiates.) Tj ET Q endstream endobj 51 0 obj <> endobj 52 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.30 742.25 Td (ST) Tj ET Q q 0 0 0 rg BT 228.35 742.25 Td (OCK OWNERSHIP) Tj ET Q q 0 0 0 rg BT 315.31 742.25 Td ( BY) Tj ET Q q 0 0 0 rg BT 331.33 742.25 Td ( DIRECT) Tj ET Q q 0 0 0 rg BT 372.55 742.25 Td (ORS,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 171.05 730.25 Td (EXECUTIVE OFFICERS ) Tj ET Q q 0 0 0 rg BT 285.52 730.25 Td (AND CER) Tj ET Q q 0 0 0 rg BT 330.44 730.25 Td (T) Tj ET Q q 0 0 0 rg BT 336.37 730.25 Td (AIN ST) Tj ET Q q 0 0 0 rg BT 369.26 730.25 Td (OCKHOLDERS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 718.25 Td (Ownership) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 694.25 Td (The following table shows, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.03 694.25 Td (July1, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.20 694.25 Td (, the amount of our common stock beneficially owned \(unless otherwise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (indicated\) by \(1\) any person who is known by us to be the beneficial owner of more than 5% of our outstanding common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (shares, \(2\) our directors, \(3\) our executive of) Tj ET Q q 0 0 0 rg BT 228.92 670.25 Td (ficers, and \(4\) all of our directors and executive of) Tj ET Q q 0 0 0 rg BT 429.76 670.25 Td (ficers as a group. Except as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (otherwise indicated, all shares are owned directly) Tj ET Q q 0 0 0 rg BT 246.77 658.25 Td (, and the owner of such shares has the sole voting and investment power with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (respect thereto.) 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Beneficial Owner) Tj ET Q q 0 0 0 rg BT 164.29 597.43 Td ( ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 166.79 601.96 Td (\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.75 597.43 Td (Position) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.85 607.43 Td (Number of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.65 597.43 Td (Common Shares) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.05 607.43 Td (Percentage of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.60 597.43 Td (Class) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 576.42 Td (Jeffrey C. Hines) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.00 576.42 Td (Chairman of the Board of Directors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 576.42 Td (1,111.111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.65 576.42 Td (* ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 506.15 580.95 Td (\(3\)\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 561.42 Td (Colin P. Shepherd) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.00 561.42 Td (Director) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.65 561.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 561.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 546.42 Td (Charles M. Baughn) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.00 546.42 Td (Director) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 546.42 Td (7,859.473) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 546.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 531.42 Td (Jack L. Farley) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.00 531.42 Td (Independent Director) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 531.42 Td (2,750.478) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 531.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 516.42 Td (Thomas L. Mitchell) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.00 516.42 Td (Independent Director) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 516.42 Td (2,648.305) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 516.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 501.42 Td (John S. Moody) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.00 501.42 Td (Independent Director) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 501.42 Td (2,648.305) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 501.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 486.42 Td (Peter Shaper) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.00 486.42 Td (Independent Director) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 486.42 Td (2,648.305) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 486.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 471.42 Td (Sherri W. Schugart) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.00 471.42 Td (President and Chief Executive Officer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 471.42 Td (2,222.222) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 471.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 456.42 Td (Ryan T. Sims) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.00 456.42 Td (Chief Financial Officer and Secretary) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 456.42 Td (1,666.667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 456.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 441.42 Td (David L. Steinbach) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.00 441.42 Td (Chief Investment Officer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.65 441.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 441.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 426.42 Td (Kevin L. McMeans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.00 426.42 Td (Asset Management Officer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 426.42 Td (1,666.667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 426.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 411.42 Td (J. Shea Morgenroth) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.00 411.42 Td (Chief Accounting Officer and Treasurer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.65 411.42 Td (1,666.667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 411.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 396.42 Td (All directors and executive) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 386.42 Td (officers as a group) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 386.42 Td (26,888.200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 386.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td ( * ) Tj ET Q q 0 0 0 rg BT 86.00 358.25 Td (Amount represents less than 1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 334.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 334.25 Td (The address of each person listed is c/o Hines Global REIT) Tj ET Q q 0 0 0 rg BT 322.42 334.25 Td (, Inc., 2800 Post Oak Boulevard, Suite 5000, Houston, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 322.25 Td (T) Tj ET Q q 0 0 0 rg BT 91.41 322.25 Td (exas 77056-6618.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 298.25 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 298.25 Td (For purposes of this table, beneficial ownership is determined in accordance with Rule 13d-3 under the Exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 286.25 Td (Act, pursuant to which a person is deemed to have beneficial ownership of shares of our stock that the person has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 274.25 Td (the right to acquire within 60 days. For purposes of computing the percentage of outstanding shares of the Company) Tj ET Q q 0 0 0 rg BT 553.95 274.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 262.25 Td (stock held by each person or group of persons named in the table, any shares that such person or persons have the right ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 250.25 Td (to acquire within 60 days of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.42 250.25 Td (July1, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.59 250.25 Td ( are deemed to be outstanding, but are not deemed to be outstanding for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 238.25 Td (purpose of computing the percentage ownership of any other persons.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 214.25 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 214.25 Td (Includes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.38 214.25 Td (1,1) Tj ET Q q 0 0 0 rg BT 134.51 214.25 Td (1) Tj ET Q q 0 0 0 rg BT 139.13 214.25 Td (1.1) Tj ET Q q 0 0 0 rg BT 151.26 214.25 Td (1) Tj ET Q q 0 0 0 rg BT 155.89 214.25 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.89 214.25 Td ( common shares owned directly by Hines Global REIT) Tj ET Q q 0 0 0 rg BT 380.66 214.25 Td ( Investor Limited Partnership. Mr) Tj ET Q q 0 0 0 rg BT 514.81 214.25 Td (. Hines is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 202.25 Td (deemed to be the beneficial owner of the shares owned by Hines Global REIT) Tj ET Q q 0 0 0 rg BT 398.22 202.25 Td ( Investor Limited Partnership. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 178.25 Td (\(4\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 178.25 Td (This amount does not include the \(i\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.47 178.25 Td (21,1) Tj ET Q q 0 0 0 rg BT 250.60 178.25 Td (1) Tj ET Q q 0 0 0 rg BT 255.23 178.25 Td (1.1) Tj ET Q q 0 0 0 rg BT 267.36 178.25 Td (1) Tj ET Q q 0 0 0 rg BT 271.99 178.25 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.99 178.25 Td ( partnership interests \(the OP) Tj ET Q q 0 0 0 rg BT 397.69 178.25 Td ( Units\) in Hines Global REIT) Tj ET Q q 0 0 0 rg BT 519.99 178.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 166.25 Td (Properties LP) Tj ET Q q 0 0 0 rg BT 140.35 166.25 Td ( \(the Operating Partnership\) and \(ii\) the special partnership interests \(the Special OP) Tj ET Q q 0 0 0 rg BT 490.41 166.25 Td ( Units\) of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 154.25 Td (Operating Partnership owned by Hines Global REIT) Tj ET Q q 0 0 0 rg BT 295.78 154.25 Td ( ) Tj ET Q q 0 0 0 rg BT 297.72 154.25 Td (Associates Limited Partnership. Limited partners in the Operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 142.25 Td (Partnership may request repurchase of their OP) Tj ET Q q 0 0 0 rg BT 275.01 142.25 Td ( Units for cash or) Tj ET Q q 0 0 0 rg BT 344.04 142.25 Td (, at our option, common shares on a one-for) Tj ET Q q 0 0 0 rg BT 518.80 142.25 Td (-one basis, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 130.25 Td (beginning one year after such OP) Tj ET Q q 0 0 0 rg BT 219.20 130.25 Td ( Units were issued. ) Tj ET Q q 0 0 0 rg BT 297.62 130.25 Td (The holder of the Special OP) Tj ET Q q 0 0 0 rg BT 413.60 130.25 Td ( Units is entitled to distributions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 118.25 Td (from the Operating Partnership under certain circumstances. In addition, under the ) Tj ET Q q 0 0 0 rg BT 417.84 118.25 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 457.01 118.25 Td (Agreement, if we are not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 106.25 Td (advised by an entity af) Tj ET Q q 0 0 0 rg BT 176.35 106.25 Td (filiated with Hines, Hines or its af) Tj ET Q q 0 0 0 rg BT 311.97 106.25 Td (filiates may cause the Operating Partnership to purchase some ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 94.25 Td (or all of the Special OP) Tj ET Q q 0 0 0 rg BT 179.22 94.25 Td ( Units or any other OP) Tj ET Q q 0 0 0 rg BT 269.12 94.25 Td ( Units then held by such entities for cash \(or in certain cases, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 82.25 Td (promissory note\) or our shares as determined by the seller) Tj ET Q q 0 0 0 rg BT 317.33 82.25 Td (. Mr) Tj ET Q q 0 0 0 rg BT 336.50 82.25 Td (. Hines and Gerald D. Hines indirectly own and/or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 70.25 Td (control Hines Global REIT) Tj ET Q q 0 0 0 rg BT 194.41 70.25 Td ( ) Tj ET Q q 0 0 0 rg BT 196.36 70.25 Td (Associates Limited Partnership.) Tj ET Q endstream endobj 53 0 obj <> endobj 54 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Section 16\(a\) Beneficial Ownership Reporting Compliance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 718.25 Td (Section 16\(a\) of the Exchange ) Tj ET Q q 0 0 0 rg BT 182.01 718.25 Td (Act requires our directors and executive of) Tj ET Q q 0 0 0 rg BT 352.87 718.25 Td (ficers to file initial reports of ownership, reports of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (changes in ownership and annual reports of ownership with the SEC. ) Tj ET Q q 0 0 0 rg BT 328.65 706.25 Td (These persons are required by SEC regulations to furnish ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (us with copies of all Section 16 forms that they file with the SEC. ) Tj ET Q q 0 0 0 rg BT 315.06 694.25 Td (T) Tj ET Q q 0 0 0 rg BT 320.47 694.25 Td (o our knowledge, there are no persons who beneficially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (own more than 10% of a registered class of our equity securities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 658.25 Td (Based solely on our review of the copies of such forms received by us or written representations from certain reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (persons, we believe that in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.86 646.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.86 646.25 Td ( our directors and executive of) Tj ET Q q 0 0 0 rg BT 300.57 646.25 Td (ficers complied with all filing requirements under Section 16\(a\).) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 163.70 622.25 Td (CER) Tj ET Q q 0 0 0 rg BT 184.46 622.25 Td (T) Tj ET Q q 0 0 0 rg BT 190.39 622.25 Td (AIN RELA) Tj ET Q q 0 0 0 rg BT 238.27 622.25 Td (TIONSHIPS ) Tj ET Q q 0 0 0 rg BT 294.68 622.25 Td (AND RELA) Tj ET Q q 0 0 0 rg BT 345.88 622.25 Td (TED ) Tj ET Q q 0 0 0 rg BT 368.76 622.25 Td (TRANSACTIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (Our) Tj ET Q q 0 0 0 rg BT 67.60 598.25 Td ( ) Tj ET Q q 0 0 0 rg BT 69.55 598.25 Td (Advisor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 574.25 Td (W) Tj ET Q q 0 0 0 rg BT 67.64 574.25 Td (e do not have employees. Subject to the supervision of our board of directors, our day-to-day operations are conducted by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (our ) Tj ET Q q 0 0 0 rg BT 65.28 562.25 Td (Advisor in accordance with the ) Tj ET Q q 0 0 0 rg BT 192.18 562.25 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 231.35 562.25 Td (Agreement. Our ) Tj ET Q q 0 0 0 rg BT 298.28 562.25 Td (Advisor is an af) Tj ET Q q 0 0 0 rg BT 361.69 562.25 Td (filiate of Hines and is wholly-owned, indirectly) Tj ET Q q 0 0 0 rg BT 550.72 562.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (by) Tj ET Q q 0 0 0 rg BT 59.35 550.25 Td (, or for the benefit of, the Chairman of our board of directors, Jef) Tj ET Q q 0 0 0 rg BT 318.53 550.25 Td (frey C. Hines, and his father) Tj ET Q q 0 0 0 rg BT 431.15 550.25 Td (, Gerald D. Hines. ) Tj ET Q q 0 0 0 rg BT 505.85 550.25 Td (All of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (executive of) Tj ET Q q 0 0 0 rg BT 98.96 538.25 Td (ficers are employed by) Tj ET Q q 0 0 0 rg BT 189.66 538.25 Td (, and all of our executive of) Tj ET Q q 0 0 0 rg BT 299.71 538.25 Td (ficers actively participate in, the management of our ) Tj ET Q q 0 0 0 rg BT 510.46 538.25 Td (Advisor and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (its af) Tj ET Q q 0 0 0 rg BT 69.54 526.25 Td (filiates. Jef) Tj ET Q q 0 0 0 rg BT 113.23 526.25 Td (frey C. Hines serves as the Chairman of the Managers of the general partner of our ) Tj ET Q q 0 0 0 rg BT 446.17 526.25 Td (Advisor and Charles M. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (Baughn serves as a Manager of the general partner of our ) Tj ET Q q 0 0 0 rg BT 281.30 514.25 Td (Advisor) Tj ET Q q 0 0 0 rg BT 312.97 514.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 490.25 Td (Our executive of) Tj ET Q q 0 0 0 rg BT 126.01 490.25 Td (ficers have control and primary responsibility for the management decisions of our ) Tj ET Q q 0 0 0 rg BT 459.25 490.25 Td (Advisor) Tj ET Q q 0 0 0 rg BT 491.07 490.25 Td (, including the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (selection of investment properties to be recommended to our board of directors, the negotiations for these investments, and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (property management and leasing of properties we acquire directly) Tj ET Q q 0 0 0 rg BT 317.02 466.25 Td (. ) Tj ET Q q 0 0 0 rg BT 321.84 466.25 Td (The ) Tj ET Q q 0 0 0 rg BT 339.34 466.25 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 378.51 466.25 Td (Agreement was renewed as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.51 466.25 Td (December10, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 454.25 Td ( and has a one year term that may be renewed for an unlimited number of successive periods \(up to one year at a time\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (upon the mutual consent of the parties. Renewals of the agreement must be approved by the Conflicts Committee. ) Tj ET Q q 0 0 0 rg BT 508.04 442.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 89.17 430.25 Td (Agreement may be terminated:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 406.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 406.25 Td (immediately by us \(i\) in the event our ) Tj ET Q q 0 0 0 rg BT 238.74 406.25 Td (Advisor commits fraud, criminal conduct, willful misconduct or negligent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 394.25 Td (breach of fiduciary duty) Tj ET Q q 0 0 0 rg BT 181.70 394.25 Td (, \(ii\) upon the bankruptcy of our ) Tj ET Q q 0 0 0 rg BT 312.23 394.25 Td (Advisor or its involvement in similar insolvency proceedings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 382.25 Td (or \(iii\) in the event of a material breach of the ) Tj ET Q q 0 0 0 rg BT 270.64 382.25 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 309.81 382.25 Td (Agreement by our ) Tj ET Q q 0 0 0 rg BT 384.52 382.25 Td (Advisor that remains uncured after 10 days) Tj ET Q q 0 0 0 rg BT 559.83 382.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 370.25 Td (written notice;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 346.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 346.25 Td (without cause or penalty by us or by our ) Tj ET Q q 0 0 0 rg BT 249.03 346.25 Td (Advisor upon 60 days) Tj ET Q q 0 0 0 rg BT 339.67 346.25 Td ( written notice; or) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 322.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 322.25 Td (immediately by our ) Tj ET Q q 0 0 0 rg BT 166.26 322.25 Td (Advisor upon our bankruptcy or involvement in similar insolvency proceedings or any material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 310.25 Td (breach of the ) Tj ET Q q 0 0 0 rg BT 140.14 310.25 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 179.31 310.25 Td (Agreement by us that remains uncured after 10 days) Tj ET Q q 0 0 0 rg BT 390.72 310.25 Td ( written notice.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 286.25 Td (The ) Tj ET Q q 0 0 0 rg BT 76.50 286.25 Td (Advisor and its af) Tj ET Q q 0 0 0 rg BT 147.69 286.25 Td (filiates receive compensation and are reimbursed for certain expenses in connection with services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (provided to us. ) Tj ET Q q 0 0 0 rg BT 112.04 274.25 Td (These payments are summarized below) Tj ET Q q 0 0 0 rg BT 269.11 274.25 Td (. In the event the ) Tj ET Q q 0 0 0 rg BT 337.97 274.25 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 377.14 274.25 Td (Agreement is terminated, our ) Tj ET Q q 0 0 0 rg BT 496.27 274.25 Td (Advisor will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (paid all earned, accrued and unpaid compensation and expense reimbursements within 30 days. Upon termination, we may also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (be obligated to purchase certain ownership interests owned by our ) Tj ET Q q 0 0 0 rg BT 316.59 250.25 Td (Advisor or other af) Tj ET Q q 0 0 0 rg BT 392.78 250.25 Td (filiates of Hines under certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (circumstances.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 214.25 Td (The following summarizes fees our ) Tj ET Q q 0 0 0 rg BT 202.57 214.25 Td (Advisor earned under the ) Tj ET Q q 0 0 0 rg BT 305.88 214.25 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 345.04 214.25 Td (Agreement during the year ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.96 214.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.96 214.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 202.25 Td (the three months ended March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.06 202.25 Td (:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 178.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 178.25 Td (Under the ) Tj ET Q q 0 0 0 rg BT 127.66 178.25 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 166.83 178.25 Td (Agreement, we reimbursed our ) Tj ET Q q 0 0 0 rg BT 293.17 178.25 Td (Advisor for all costs incurred by our ) Tj ET Q q 0 0 0 rg BT 440.64 178.25 Td (Advisor or its af) Tj ET Q q 0 0 0 rg BT 505.73 178.25 Td (filiates in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 166.25 Td (connection with our public of) Tj ET Q q 0 0 0 rg BT 204.13 166.25 Td (ferings up to a limit \(when combined with commissions and the Dealer Manager fee paid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 154.25 Td (in connection with the of) Tj ET Q q 0 0 0 rg BT 185.79 154.25 Td (fering of primary shares\) of 15% of aggregate gross proceeds. Such costs consist of, among ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 142.25 Td (other costs, expenses of the Company) Tj ET Q q 0 0 0 rg BT 239.86 142.25 Td (s or) Tj ET Q q 0 0 0 rg BT 254.40 142.25 Td (ganization, actual legal, accounting, bona fide out-of-pocket itemized and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 130.25 Td (detailed due diligence costs, printing, filing fees, transfer agent costs, postage, escrow fees, data processing fees, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 118.25 Td (advertising and sales literature and other of) Tj ET Q q 0 0 0 rg BT 258.53 118.25 Td (fering-related costs. During 2014, we were engaged in our second public ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 106.25 Td (of) Tj ET Q q 0 0 0 rg BT 94.15 106.25 Td (fering through ) Tj ET Q q 0 0 0 rg BT 153.58 106.25 Td (April 2014 and thereafter) Tj ET Q q 0 0 0 rg BT 254.53 106.25 Td (, we continued to of) Tj ET Q q 0 0 0 rg BT 334.05 106.25 Td (fer shares pursuant to our distribution reinvestment plan. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 94.25 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 94.25 Td (e incurred approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.65 94.25 Td ($61,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.15 94.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.59 94.25 Td ($15,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.09 94.25 Td ( during the year ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.58 94.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.58 94.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.02 94.25 Td (the three months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 82.25 Td (ended March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.98 82.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 228.64 82.25 Td (, as reimbursement to our ) Tj ET Q q 0 0 0 rg BT 332.50 82.25 Td (Advisor or its af) Tj ET Q q 0 0 0 rg BT 397.59 82.25 Td (filiates for issuer costs they incurred as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 70.25 Td (result of our public of) Tj ET Q q 0 0 0 rg BT 173.02 70.25 Td (ferings.) Tj ET Q endstream endobj 55 0 obj <> endobj 56 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (Under the ) Tj ET Q q 0 0 0 rg BT 127.66 742.10 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 166.83 742.10 Td (Agreement in ef) Tj ET Q q 0 0 0 rg BT 231.62 742.10 Td (fect from January 1, 2015 through March 31, 2015, the acquisition fee payable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (our ) Tj ET Q q 0 0 0 rg BT 101.28 730.10 Td (Advisor in connection with investments we make was equal to 2.25% of \(i\) the purchase price of real estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (investments we acquire directly) Tj ET Q q 0 0 0 rg BT 212.25 718.10 Td (, including any debt attributable to such investments or the principal amounts of any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 706.10 Td (loans originated directly by us, or \(ii\) when we invest indirectly through another entity) Tj ET Q q 0 0 0 rg BT 431.38 706.10 Td (, our pro rata share of the gross ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (asset value of real estate investments held by the entity through which we invest. Under the ) Tj ET Q q 0 0 0 rg BT 453.40 694.10 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 492.57 694.10 Td (Agreement, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td (also reimburse our ) Tj ET Q q 0 0 0 rg BT 162.37 682.10 Td (Advisor for certain acquisition expenses incurred in connection with the purchase of real estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td (investments. Ef) Tj ET Q q 0 0 0 rg BT 150.53 670.10 Td (fective as of ) Tj ET Q q 0 0 0 rg BT 201.34 670.10 Td (April 1, 2015, the Company) Tj ET Q q 0 0 0 rg BT 312.90 670.10 Td (, the Operating Partnership and the ) Tj ET Q q 0 0 0 rg BT 454.26 670.10 Td (Advisor amended the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.10 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 125.17 658.10 Td (Agreement in order to reduce the acquisition fee rate payable to the ) Tj ET Q q 0 0 0 rg BT 396.72 658.10 Td (Advisor from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.38 658.10 Td (2.25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.21 658.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.99 658.10 Td (0.50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.82 658.10 Td ( of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.10 Td (amounts. ) Tj ET Q q 0 0 0 rg BT 127.21 646.10 Td (The ) Tj ET Q q 0 0 0 rg BT 144.70 646.10 Td (Advisor earned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.57 646.10 Td ($8.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.46 646.10 Td ( in acquisition fees during the year ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.21 646.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.21 646.10 Td (. ) Tj ET Q q 0 0 0 rg BT 510.53 646.10 Td (The ) Tj ET Q q 0 0 0 rg BT 528.03 646.10 Td (Advisor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td (did not earn any acquisition fees during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.79 634.10 Td (the three months ended March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.92 634.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 610.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.10 Td (Under the ) Tj ET Q q 0 0 0 rg BT 127.66 610.10 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 166.83 610.10 Td (Agreement, we pay our ) Tj ET Q q 0 0 0 rg BT 262.63 610.10 Td (Advisor a monthly asset management fee equal to 0.125% of the net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.10 Td (equity capital we have invested in real estate investments at the end of each month. In December 2014, our ) Tj ET Q q 0 0 0 rg BT 515.58 598.10 Td (Advisor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.10 Td (agreed to waive asset management fees otherwise payable to it for the year ended December 31, 2015 to the extent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 574.10 Td (that our MFFO for the year ended December 31, 2015, as disclosed in our ) Tj ET Q q 0 0 0 rg BT 383.71 574.10 Td (Annual Report on Form 10-K for such year) Tj ET Q q 0 0 0 rg BT 556.88 574.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 562.10 Td (amounted to less than 100% of the aggregate distributions declared to our stockholders for the year ended December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.10 Td (31, 2015. ) Tj ET Q q 0 0 0 rg BT 125.82 550.10 Td (The ) Tj ET Q q 0 0 0 rg BT 143.31 550.10 Td (Advisor did not waive any asset management fees for the year ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.58 550.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.58 550.10 Td ( as a result of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 538.10 Td (this waiver) Tj ET Q q 0 0 0 rg BT 129.60 538.10 Td (. ) Tj ET Q q 0 0 0 rg BT 134.42 538.10 Td (The ) Tj ET Q q 0 0 0 rg BT 151.92 538.10 Td (Advisor earned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.79 538.10 Td ($35.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.68 538.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.12 538.10 Td ($9.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.01 538.10 Td ( in asset management fees during the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 526.10 Td (December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.58 526.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.58 526.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.02 526.10 Td (the three months ended March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.15 526.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 395.81 526.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 502.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 502.10 Td (Under the ) Tj ET Q q 0 0 0 rg BT 127.66 502.10 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 166.83 502.10 Td (Agreement, we pay our ) Tj ET Q q 0 0 0 rg BT 262.63 502.10 Td (Advisor a disposition fee equal to 1.0% of \(i\) the sales price of any real ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 490.10 Td (estate investments sold, held directly by us, or \(ii\) when we hold investments indirectly through another entity) Tj ET Q q 0 0 0 rg BT 525.81 490.10 Td (, our pro ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 478.10 Td (rata share of the sales price of the real estate investment sold by that entity) Tj ET Q q 0 0 0 rg BT 383.02 478.10 Td (. ) Tj ET Q q 0 0 0 rg BT 387.84 478.10 Td (The ) Tj ET Q q 0 0 0 rg BT 405.34 478.10 Td (Advisor earned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.20 478.10 Td ($309,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.70 478.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 466.10 Td (disposition fees during the year ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.99 466.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.99 466.10 Td ( related to the sale of one of our properties. ) Tj ET Q q 0 0 0 rg BT 495.97 466.10 Td (The ) Tj ET Q q 0 0 0 rg BT 513.46 466.10 Td (Advisor did ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 454.10 Td (not earn any disposition fees during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.53 454.10 Td (the three months ended March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 454.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 430.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 430.10 Td (Likewise, under the ) Tj ET Q q 0 0 0 rg BT 167.09 430.10 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 206.26 430.10 Td (Agreement, we may reimburse our ) Tj ET Q q 0 0 0 rg BT 347.32 430.10 Td (Advisor and its af) Tj ET Q q 0 0 0 rg BT 418.52 430.10 Td (filiates for certain expenses they ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 418.10 Td (incur in connection with administrative and operating services they provide to us. Under our Charter) Tj ET Q q 0 0 0 rg BT 487.43 418.10 Td (, we may not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 406.10 Td (make reimbursements for administrative and operating expenses during any four consecutive fiscal quarters in excess ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 394.10 Td (of the greater of \(i\) 2.0% of our average invested assets or \(ii\) 25.0% of our net income. If our reimbursements to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 382.10 Td (Advisor for administrative and operating expenses exceed this limit, our ) Tj ET Q q 0 0 0 rg BT 376.76 382.10 Td (Advisor will be required to send a written ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 370.10 Td (disclosure of such fact to stockholders and may be required to refund such excess. For the year ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 358.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.00 358.10 Td ( and for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.60 358.10 Td (the three months ended March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.72 358.10 Td (, these limits were not exceeded. For the year ended December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 346.10 Td (31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.00 346.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.00 346.10 Td ( and for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.60 346.10 Td (the three months ended March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.72 346.10 Td (, our ) Tj ET Q q 0 0 0 rg BT 334.00 346.10 Td (Advisor incurred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.54 346.10 Td ($6.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.43 346.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.87 346.10 Td ($1.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.76 346.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 334.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 133.66 334.10 Td (, in expenses, such as general and administrative expenses, on our behalf, which were reimbursed by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 322.10 Td (Company) Tj ET Q q 0 0 0 rg BT 124.24 322.10 Td (. See Hines - Property Management ) Tj ET Q q 0 0 0 rg BT 275.86 322.10 Td (Agreements below for additional information concerning expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 310.10 Td (reimbursements to Hines.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 286.10 Td (W) Tj ET Q q 0 0 0 rg BT 67.64 286.10 Td (e also agreed to indemnify our ) Tj ET Q q 0 0 0 rg BT 191.49 286.10 Td (Advisor against losses it incurs in connection with its performance of its obligations under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.17 274.10 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 103.33 274.10 Td (Agreement, subject to terms and conditions in the ) Tj ET Q q 0 0 0 rg BT 304.13 274.10 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 343.30 274.10 Td (Agreement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 250.10 Td (Hines Global REIT) Tj ET Q q 0 0 0 rg BT 136.58 250.10 Td ( ) Tj ET Q q 0 0 0 rg BT 138.53 250.10 Td (Associates Limited Partnership, an af) Tj ET Q q 0 0 0 rg BT 288.03 250.10 Td (filiate of Hines, as the holder of the Special OP) Tj ET Q q 0 0 0 rg BT 476.50 250.10 Td ( Units in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (Operating Partnership, will be entitled to receive distributions from the Operating Partnership in an amount equal to 15% of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (distributions, including from sales of real estate investments, refinancings and other sources, but only after our stockholders ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (have received \(or are deemed to have received\), in the aggregate, cumulative distributions equal to their invested capital plus an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (8.0% cumulative, non-compounded annual pre-tax return on such invested capital. ) Tj ET Q q 0 0 0 rg BT 382.22 202.10 Td (The Special OP) Tj ET Q q 0 0 0 rg BT 444.61 202.10 Td ( Units may be converted into ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (OP) Tj ET Q q 0 0 0 rg BT 62.41 190.10 Td ( Units that, at the election of the holder) Tj ET Q q 0 0 0 rg BT 218.35 190.10 Td (, will be repurchased for cash \(or) Tj ET Q q 0 0 0 rg BT 349.84 190.10 Td (, in the case of \(iii\) below) Tj ET Q q 0 0 0 rg BT 451.66 190.10 Td (, a promissory note\) or our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (shares, following: \(i\) the listing of our common stock on a national securities exchange, or \(ii\) a mer) Tj ET Q q 0 0 0 rg BT 451.10 178.10 Td (ger) Tj ET Q q 0 0 0 rg BT 463.47 178.10 Td (, consolidation or sale ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (of substantially all of our assets or any similar transaction or any transaction pursuant to which a majority of our board of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (directors then in of) Tj ET Q q 0 0 0 rg BT 125.63 154.10 Td (fice are replaced or removed or \(iii\) the occurrence of certain events that result in the termination or non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (renewal of the ) Tj ET Q q 0 0 0 rg BT 109.14 142.10 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 148.31 142.10 Td (Agreement.) Tj ET Q endstream endobj 57 0 obj <> endobj 58 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Hines) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 718.25 Td (Property Management ) Tj ET Q q 0 0 0 rg BT 153.62 718.25 Td (Agreements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 694.25 Td (Hines or its af) Tj ET Q q 0 0 0 rg BT 115.20 694.25 Td (filiates manage some of the properties in which we invest. ) Tj ET Q q 0 0 0 rg BT 350.23 694.25 Td (When we acquire properties directly) Tj ET Q q 0 0 0 rg BT 495.06 694.25 Td (, we expect that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (we will pay Hines property management fees, leasing fees, tenant construction fees and other fees customarily paid to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (property manager) Tj ET Q q 0 0 0 rg BT 120.25 670.25 Td (. Hines is wholly-owned by Jef) Tj ET Q q 0 0 0 rg BT 244.50 670.25 Td (frey C. Hines and his father) Tj ET Q q 0 0 0 rg BT 354.62 670.25 Td (, Gerald D. Hines.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 646.25 Td (During the year ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.21 646.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.21 646.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.65 646.25 Td (the three months ended March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.78 646.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 460.44 646.25 Td (, Hines earned the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (following amounts pursuant to property management agreements under which Hines manages some of our properties:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 610.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.25 Td ($7.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.89 610.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.33 610.25 Td ($1.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.22 610.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 255.88 610.25 Td (, in property management fees; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 586.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.25 Td ($4.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.89 586.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.33 586.25 Td ($2.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.22 586.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 255.88 586.25 Td (, in leasing commissions; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 562.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 562.25 Td ($1) Tj ET Q q 0 0 0 rg BT 95.63 562.25 Td (1.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.52 562.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.96 562.25 Td ($2.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.85 562.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 260.51 562.25 Td (, for all costs Hines incurred in providing property management and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.25 Td (leasing services pursuant to the property management and leasing agreements. Included in this reimbursement of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 538.25 Td (operating costs are the cost of personnel and overhead expenses related to such personnel located at the property as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 526.25 Td (well as of) Tj ET Q q 0 0 0 rg BT 124.70 526.25 Td (f-site personnel located in Hines) Tj ET Q q 0 0 0 rg BT 256.69 526.25 Td ( headquarters and regional of) Tj ET Q q 0 0 0 rg BT 373.12 526.25 Td (fices, to the extent the same relate to or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 514.25 Td (support the performance of Hines) Tj ET Q q 0 0 0 rg BT 222.99 514.25 Td ( duties under the agreements.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 490.25 Td (aterW) Tj ET Q q 0 0 0 rg BT 82.41 490.25 Td (all Place) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 466.25 Td (In December 201) Tj ET Q q 0 0 0 rg BT 128.04 466.25 Td (1, a wholly-owned subsidiary of the Operating Partnership entered into a Limited Partnership ) Tj ET Q q 0 0 0 rg BT 503.51 466.25 Td (Agreement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (with an af) Tj ET Q q 0 0 0 rg BT 89.80 454.25 Td (filiate of Hines for the formation of Hines One ) Tj ET Q q 0 0 0 rg BT 278.74 454.25 Td (W) Tj ET Q q 0 0 0 rg BT 287.37 454.25 Td (aterW) Tj ET Q q 0 0 0 rg BT 311.00 454.25 Td (all Holdings LP) Tj ET Q q 0 0 0 rg BT 373.96 454.25 Td ( \(the W) Tj ET Q q 0 0 0 rg BT 407.58 454.25 Td (aterW) Tj ET Q q 0 0 0 rg BT 431.21 454.25 Td (all Place JV\), a Delaware ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (limited liability company) Tj ET Q q 0 0 0 rg BT 150.44 442.25 Td (, for the purpose of developing a multi-family project in Houston, ) Tj ET Q q 0 0 0 rg BT 415.48 442.25 Td (T) Tj ET Q q 0 0 0 rg BT 420.89 442.25 Td (exas. ) Tj ET Q q 0 0 0 rg BT 445.61 442.25 Td (An af) Tj ET Q q 0 0 0 rg BT 467.92 442.25 Td (filiate of Hines serves ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (as the initial general partner and as the development partner and the subsidiary of the Operating Partnership is the limited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (partner) Tj ET Q q 0 0 0 rg BT 77.76 418.25 Td (. Hines owns a 7% interest in the joint venture and we own the remaining 93% interest through our subsidiary) Tj ET Q q 0 0 0 rg BT 516.46 418.25 Td (. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (addition, subject to certain return thresholds being achieved, the ) Tj ET Q q 0 0 0 rg BT 308.35 406.25 Td (W) Tj ET Q q 0 0 0 rg BT 316.99 406.25 Td (aterW) Tj ET Q q 0 0 0 rg BT 340.61 406.25 Td (all Place JV) Tj ET Q q 0 0 0 rg BT 388.19 406.25 Td ( agreement provides that Hines may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (receive certain incentive distributions in the event the multi-family project is liquidated. Hines did not receive any incentive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (distributions as of March 31, 2016.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (The ) Tj ET Q q 0 0 0 rg BT 68.24 358.25 Td (A) Tj ET Q q 0 0 0 rg BT 74.17 358.25 Td (viva Coral Gables JV) Tj ET Q q 0 0 0 rg BT 161.48 358.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 334.25 Td (In July 2012, a wholly-owned subsidiary of the Operating Partnership entered into a Limited Partnership ) Tj ET Q q 0 0 0 rg BT 479.47 334.25 Td (Agreement with an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 322.25 Td (filiate of Hines for the formation of Hines Ponce & Bird Holdings LP) Tj ET Q q 0 0 0 rg BT 334.77 322.25 Td (, a Delaware limited liability company) Tj ET Q q 0 0 0 rg BT 487.95 322.25 Td (, for the purpose ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (of developing a multi-family project in Miami, Florida. Hines serves as the initial general partner and as the development ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (partner and the subsidiary of the Operating Partnership is the initial limited partner) Tj ET Q q 0 0 0 rg BT 380.47 298.25 Td (. Hines owns a 17% interest in the joint ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (venture and we own the remaining 83% interest through our subsidiary) Tj ET Q q 0 0 0 rg BT 333.73 286.25 Td (. ) Tj ET Q q 0 0 0 rg BT 340.67 286.25 Td (As compensation for providing development ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (management services, Hines will be paid a fee equal to 4% of the development project costs. In addition, subject to certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (return thresholds being achieved, the ) Tj ET Q q 0 0 0 rg BT 199.40 262.25 Td (A) Tj ET Q q 0 0 0 rg BT 205.88 262.25 Td (viva Coral Gables JV) Tj ET Q q 0 0 0 rg BT 291.51 262.25 Td ( agreement provides that Hines may receive certain incentive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (distributions in the event the multi-family project is liquidated. ) Tj ET Q q 0 0 0 rg BT 303.66 250.25 Td (The project was completed in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.90 250.25 Td (April 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.51 250.25 Td (. Hines did not receive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (any incentive distributions as of March 31, 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 214.25 Td (In July 2012, the ) Tj ET Q q 0 0 0 rg BT 128.17 214.25 Td (A) Tj ET Q q 0 0 0 rg BT 134.64 214.25 Td (viva Coral Gables JV) Tj ET Q q 0 0 0 rg BT 220.28 214.25 Td ( entered into a construction loan agreement with a maximum principal amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td ($20.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.89 202.25 Td ( with an af) Tj ET Q q 0 0 0 rg BT 146.20 202.25 Td (filiate of Hines related to the development of a multi-family project in Miami, Florida. ) Tj ET Q q 0 0 0 rg BT 496.75 202.25 Td (This loan was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (repaid in July 2015. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (@1377) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 142.25 Td (In November 201) Tj ET Q q 0 0 0 rg BT 129.17 142.25 Td (1, a wholly-owned subsidiary of the Operating Partnership entered into a loan agreement with an af) Tj ET Q q 0 0 0 rg BT 526.64 142.25 Td (filiate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (Hines to provide pre-construction financing for the development of @1377, a multi-family project in ) Tj ET Q q 0 0 0 rg BT 455.49 130.25 Td (Atlanta, Geor) Tj ET Q q 0 0 0 rg BT 509.74 130.25 Td (gia. ) Tj ET Q q 0 0 0 rg BT 526.77 130.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (project was completed in 2014 and sold on June 24, 2016. Subsequent to the initial loan being repaid, we provided a preferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (equity investment in the project of $3.6 million, representing a 51.7% ownership in the project. @1377 was financed with a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td ($23.3 million secured loan made by Cadence Bank, N.A., which was solely guaranteed by our joint venture partner) Tj ET Q q 0 0 0 rg BT 510.58 94.25 Td (, and a $3.2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.25 Td (million mezzanine loan commitment plus accrued interest made by us, of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.41 82.25 Td ($4.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 82.25 Td ( was outstanding as of March 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 70.25 Td (. In addition, subject to certain return thresholds being achieved, the @1377 partnership agreement provided that Hines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (would receive certain incentive distributions. In connection with the sale of @1377, Hines received total distributions of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.30 58.25 Td ($15.7 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 46.25 Td ( from the @1377 partnership in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.52 46.25 Td (June 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.35 46.25 Td (, which included a return of capital, preferred return distributions, and ) Tj ET Q endstream endobj 59 0 obj <> endobj 60 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (incentive distributions based on the return thresholds set forth in the @1377 partnership agreement having been achieved. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (These distributions represented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.47 730.10 Td (58%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.80 730.10 Td ( of the total distributions from the @1377 partnership.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Ownership Inter) Tj ET Q q 0 0 0 rg BT 121.21 706.10 Td (ests) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 682.10 Td (The Operating Partnership) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 658.10 Td (W) Tj ET Q q 0 0 0 rg BT 67.64 658.10 Td (e are the sole general partner of the Operating Partnership and owned a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.46 658.10 Td (99.99%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.29 658.10 Td ( interest in the Operating Partnership at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.58 646.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 646.10 Td (. Hines Global REIT) Tj ET Q q 0 0 0 rg BT 211.17 646.10 Td ( ) Tj ET Q q 0 0 0 rg BT 213.12 646.10 Td (Associates Limited Partnership, an af) Tj ET Q q 0 0 0 rg BT 362.62 646.10 Td (filiate of Jef) Tj ET Q q 0 0 0 rg BT 410.75 646.10 Td (frey C. Hines, owned a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.44 646.10 Td (0.01%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.27 646.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (interest in the Operating Partnership at December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.76 634.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.76 634.10 Td (. ) Tj ET Q q 0 0 0 rg BT 290.21 634.10 Td (An af) Tj ET Q q 0 0 0 rg BT 312.52 634.10 Td (filiate of Jef) Tj ET Q q 0 0 0 rg BT 360.65 634.10 Td (frey C. Hines also owns ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.97 634.10 Td (1,1) Tj ET Q q 0 0 0 rg BT 471.10 634.10 Td (1) Tj ET Q q 0 0 0 rg BT 475.73 634.10 Td (1.1) Tj ET Q q 0 0 0 rg BT 487.86 634.10 Td (1) Tj ET Q q 0 0 0 rg BT 492.49 634.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.49 634.10 Td ( shares of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (common stock.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (Policies and Pr) Tj ET Q q 0 0 0 rg BT 113.70 598.10 Td (ocedur) Tj ET Q q 0 0 0 rg BT 142.96 598.10 Td (es for) Tj ET Q q 0 0 0 rg BT 166.38 598.10 Td ( Review of Related Party ) Tj ET Q q 0 0 0 rg BT 274.77 598.10 Td (T) Tj ET Q q 0 0 0 rg BT 280.70 598.10 Td (ransactions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 574.10 Td (Potential conflicts of interest exist among us, Hines, our ) Tj ET Q q 0 0 0 rg BT 285.35 574.10 Td (Advisor and other af) Tj ET Q q 0 0 0 rg BT 367.65 574.10 Td (filiates of Hines in relation to our existing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (agreements and how we will operate. Currently) Tj ET Q q 0 0 0 rg BT 239.01 562.10 Td (, four of our seven directors are independent directors, and each of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (independent directors, serve on the Conflicts Committee of our board of directors. ) Tj ET Q q 0 0 0 rg BT 380.84 550.10 Td (The Conflicts Committee reviews and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (approves all matters that our board of directors believes may involve conflicts of interest. Please see Corporate Governance - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (Conflicts Committee above.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 502.10 Td (T) Tj ET Q q 0 0 0 rg BT 64.41 502.10 Td (o reduce the ef) Tj ET Q q 0 0 0 rg BT 123.36 502.10 Td (fect on us of potential conflicts of interest described above, the ) Tj ET Q q 0 0 0 rg BT 376.61 502.10 Td (Advisory ) Tj ET Q q 0 0 0 rg BT 415.78 502.10 Td (Agreement and our Charter include ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (a number of restrictions relating to transactions we enter into with Hines and its af) Tj ET Q q 0 0 0 rg BT 378.62 490.10 Td (filiates. ) Tj ET Q q 0 0 0 rg BT 410.65 490.10 Td (These restrictions include, among ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (others, the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 454.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 454.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 454.10 Td (e will not accept goods or services from Hines or its af) Tj ET Q q 0 0 0 rg BT 313.01 454.10 Td (filiates unless a majority of our directors \(including a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 442.10 Td (majority of our independent directors\) approves the transaction related thereto as fair and reasonable to us and on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 430.10 Td (terms and conditions not less favorable than terms that would be available from unaf) Tj ET Q q 0 0 0 rg BT 424.33 430.10 Td (filiated third parties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 406.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 406.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 406.10 Td (e will not purchase or lease a property in which Hines or its af) Tj ET Q q 0 0 0 rg BT 342.99 406.10 Td (filiates has an interest without a determination by a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 394.10 Td (majority of our directors \(including a majority of our independent directors\) not otherwise interested in the transaction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 382.10 Td (determine that the transaction is fair and reasonable to us and at a price no greater than the cost to Hines or such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 370.10 Td (af) Tj ET Q q 0 0 0 rg BT 93.59 370.10 Td (filiate for the property) Tj ET Q q 0 0 0 rg BT 181.51 370.10 Td (, unless:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 346.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 346.10 Td (there is substantial justification for any amount in excess of the cost to Hines;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 322.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 322.10 Td (our disinterested directors determine the excess to be reasonable; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 298.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 298.10 Td (appropriate disclosure is made to the disinterested directors with respect to the transaction.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 274.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 274.10 Td (The fair market value of any asset we acquire from Hines or one of its af) Tj ET Q q 0 0 0 rg BT 376.54 274.10 Td (filiates will be determined by an independent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 262.10 Td (expert selected by our independent directors. ) Tj ET Q q 0 0 0 rg BT 267.69 262.10 Td (W) Tj ET Q q 0 0 0 rg BT 276.33 262.10 Td (e generally will not acquire property from Hines or its af) Tj ET Q q 0 0 0 rg BT 502.74 262.10 Td (filiates at a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 250.10 Td (price that exceeds the appraised value of the property) Tj ET Q q 0 0 0 rg BT 298.59 250.10 Td (. ) Tj ET Q q 0 0 0 rg BT 303.41 250.10 Td (The only exception will be in the case of a development, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 238.10 Td (redevelopment or refurbishment project that we agree to acquire prior to completion of the project, when the appraised ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 226.10 Td (value will be based upon the completed value of the project. ) Tj ET Q q 0 0 0 rg BT 329.07 226.10 Td (W) Tj ET Q q 0 0 0 rg BT 337.71 226.10 Td (e will not sell or lease a property to Hines or its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 214.10 Td (af) Tj ET Q q 0 0 0 rg BT 93.59 214.10 Td (filiates or to our directors unless a majority of our directors \(including a majority of our independent directors\) not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 202.10 Td (otherwise interested in the transaction determines the transaction to be fair and reasonable to us.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 178.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 178.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 178.10 Td (e will not enter into joint ventures with af) Tj ET Q q 0 0 0 rg BT 260.53 178.10 Td (filiates of Hines unless a majority of our directors \(including a majority of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 166.10 Td (our independent directors\) not otherwise interested in the transaction approves the transaction as being fair and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 154.10 Td (reasonable to us and determines that our investment is on terms substantially similar to the terms of third parties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 142.10 Td (making comparable investments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 118.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 118.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 118.10 Td (e will not make any loan to Hines, its af) Tj ET Q q 0 0 0 rg BT 253.87 118.10 Td (filiates or to our directors, except in the case of loans to our subsidiaries and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 106.10 Td (mortgage loans for property appraised by an independent expert. ) Tj ET Q q 0 0 0 rg BT 346.47 106.10 Td (Any such loans must be approved by a majority of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 94.10 Td (our directors \(including a majority of our independent directors\) not otherwise interested in the transaction as fair) Tj ET Q q 0 0 0 rg BT 538.79 94.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 82.10 Td (competitive and commercially reasonable, and on terms no less favorable to us than loans between unaf) Tj ET Q q 0 0 0 rg BT 500.68 82.10 Td (filiated parties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 70.10 Td (in the same circumstance.) Tj ET Q endstream endobj 61 0 obj <> endobj 62 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (Hines and its af) Tj ET Q q 0 0 0 rg BT 148.30 742.10 Td (filiates will be entitled to reimbursement, at cost, for actual expenses incurred by them on behalf of us ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (or joint ventures in which we are a joint venture partner) Tj ET Q q 0 0 0 rg BT 308.30 730.10 Td (, subject to the limitation on reimbursement of operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (expenses to the extent that they exceed the greater of 2% of our average invested assets or 25% of our net income.) 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.00 646.25 Td (Our) Tj ET Q q 0 0 0 rg BT 76.60 646.25 Td ( board of dir) Tj ET Q q 0 0 0 rg BT 130.59 646.25 Td (ectors unanimously r) Tj ET Q q 0 0 0 rg BT 220.41 646.25 Td (ecommends a vote FOR ratification of the appointment by our) Tj ET Q q 0 0 0 rg BT 486.03 646.25 Td ( ) Tj ET Q q 0 0 0 rg BT 487.98 646.25 Td (Audit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (Committee of Deloitte & ) Tj ET Q q 0 0 0 rg BT 156.99 634.25 Td (T) Tj ET Q q 0 0 0 rg BT 162.74 634.25 Td (ouche as our) Tj ET Q q 0 0 0 rg BT 216.46 634.25 Td ( independent r) Tj ET Q q 0 0 0 rg BT 278.51 634.25 Td (egister) Tj ET Q q 0 0 0 rg BT 306.64 634.25 Td (ed public accounting firm for) Tj ET Q q 0 0 0 rg BT 431.46 634.25 Td ( the fiscal year) Tj ET Q q 0 0 0 rg BT 493.20 634.25 Td ( ending ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (December) Tj ET Q q 0 0 0 rg BT 93.13 622.25 Td ( 31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.63 622.25 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 130.63 622.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 598.25 Td (Although not required by law or our governance documents, we believe ratification of this appointment is good corporate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (practice because the audit of our books and records is a matter of importance to our stockholders. If our stockholders do not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (ratify the appointment, our ) Tj ET Q q 0 0 0 rg BT 159.14 574.25 Td (Audit Committee will reconsider the appointment of Deloitte & ) Tj ET Q q 0 0 0 rg BT 416.41 574.25 Td (T) Tj ET Q q 0 0 0 rg BT 421.82 574.25 Td (ouche, but still may elect to retain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (them. 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.35 490.25 Td (OTHER MA) Tj ET Q q 0 0 0 rg BT 174.89 490.25 Td (TTERS PRESENTED FOR ) Tj ET Q q 0 0 0 rg BT 295.75 490.25 Td (ACTION ) Tj ET Q q 0 0 0 rg BT 337.70 490.25 Td (A) Tj ET Q q 0 0 0 rg BT 344.18 490.25 Td (T) Tj ET Q q 0 0 0 rg BT 350.67 490.25 Td ( ) Tj ET Q q 0 0 0 rg BT 352.99 490.25 Td (THE ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.61 490.25 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.61 490.25 Td ( ) Tj ET Q q 0 0 0 rg BT 398.56 490.25 Td (ANNUAL) Tj ET Q q 0 0 0 rg BT 440.78 490.25 Td ( MEETING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 466.25 Td (Our board of directors does not intend to present for action at the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.42 466.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.42 466.25 Td ( ) Tj ET Q q 0 0 0 rg BT 343.37 466.25 Td (Annual Meeting any matter other than those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (specifically set forth in the Notice of ) Tj ET Q q 0 0 0 rg BT 198.56 454.25 Td (Annual Meeting of Stockholders. If any other matter is properly presented for action at the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (meeting, it is the intention of persons named in the proxy to vote thereon in accordance with their judgment pursuant to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (discretionary authority conferred by the proxy) Tj ET Q q 0 0 0 rg BT 234.01 430.25 Td (.) Tj ET Q endstream endobj 69 0 obj <> endobj 70 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 24.60 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.35 749.25 Td (ST) Tj ET Q q 0 0 0 rg BT 165.40 749.25 Td (OCKHOLDER PROPOSALS FOR ) Tj ET Q q 0 0 0 rg BT 319.96 749.25 Td (THE ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.57 749.25 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.57 749.25 Td ( ) Tj ET Q q 0 0 0 rg BT 365.52 749.25 Td (ANNUAL) Tj ET Q q 0 0 0 rg BT 407.75 749.25 Td ( MEETING) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 45.00 725.25 Td (Stockholder Pr) Tj ET Q q 0 0 0 rg BT 104.89 725.25 Td (oposals in the Pr) Tj ET Q q 0 0 0 rg BT 172.58 725.25 Td (oxy Statement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.89 725.25 Td ( Rule 14a-8 under the Exchange ) Tj ET Q q 0 0 0 rg BT 361.40 725.25 Td (Act addresses when a company must include a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 713.25 Td (stockholder) Tj ET Q q 0 0 0 rg BT 83.03 713.25 Td () Tj ET Q q 0 0 0 rg BT 85.80 713.25 Td (s proposal in its proxy statement and identify the proposal in its form of proxy when the company holds an annual or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 701.25 Td (special meeting of stockholders. 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.57 653.25 Td ( For any proposal that is not submitted for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 641.25 Td (inclusion in our proxy material for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.24 641.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.24 641.25 Td ( annual meeting of stockholders but is instead sought to be presented directly at that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 629.25 Td (meeting, Rule 14a-4\(c\) under the Exchange ) Tj ET Q q 0 0 0 rg BT 212.32 629.25 Td (Act permits our management to exercise discretionary voting authority under proxies it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 617.25 Td (solicits unless we receive timely notice of the proposal in accordance with the procedures set forth in our bylaws. Under our bylaws, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 605.25 Td (for a stockholder proposal to be properly submitted for presentation at our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.81 605.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.81 605.25 Td ( annual meeting of stockholders, our Secretary must ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 593.25 Td (receive written notice of the proposal at our principal executive of) Tj ET Q q 0 0 0 rg BT 300.16 593.25 Td (fices during the period beginning on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.90 593.25 Td (May26, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.73 593.25 Td ( and ending on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 581.25 Td (June25, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.83 581.25 Td ( and must contain information specified in our bylaws, including:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 557.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 557.25 Td (the name and address of the proposing stockholder \(and any beneficial owner on whose behalf the proposal is being made\) as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 545.25 Td (they appear on our books;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 521.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 521.25 Td (the number of shares of each class of Company stock owned beneficially and of record by the proposing stockholder \(and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 509.25 Td (beneficial owner) Tj ET Q q 0 0 0 rg BT 138.51 509.25 Td (, if any\);) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 485.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 485.25 Td (as to each director nominee:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 461.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 461.25 Td (the name, age, business address, and residence address of the nominee;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 437.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 437.25 Td (the number of shares of each class of Company stock beneficially owned by the nominee;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 413.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 413.25 Td (all other information relating to the nominee that is required under Regulation 14A) Tj ET Q q 0 0 0 rg BT 421.03 413.25 Td ( under the Exchange ) Tj ET Q q 0 0 0 rg BT 504.88 413.25 Td (Act to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 401.25 Td (disclosed in solicitations of proxies for election of directors in an election contest \(even if an election contest is not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 389.25 Td (involved\); and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 365.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 365.25 Td (as to any other business that the stockholder proposes to bring before the meeting:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 341.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 341.25 Td (a brief description of the business to be brought before the meeting;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 317.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 317.25 Td (the reasons for conducting such business at the meeting; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 293.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 293.25 Td (any material interest in such business that the proposing stockholder \(and the beneficial owner) Tj ET Q q 0 0 0 rg BT 466.99 293.25 Td (, if any\) may have.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 269.25 Td (All nominations must also comply with our Charter) Tj ET Q q 0 0 0 rg BT 250.82 269.25 Td (. ) Tj ET Q q 0 0 0 rg BT 255.26 269.25 Td (All proposals should be sent via registered, certified or express mail to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 257.25 Td (Secretary at our principal executive of) Tj ET Q q 0 0 0 rg BT 188.80 257.25 Td (fices at: Hines Global REIT) Tj ET Q q 0 0 0 rg BT 299.70 257.25 Td (, Inc., 2800 Post Oak Boulevard, Suite 5000, Houston, ) Tj ET Q q 0 0 0 rg BT 519.78 257.25 Td (T) Tj ET Q q 0 0 0 rg BT 525.19 257.25 Td (exas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 245.25 Td (77056-61) Tj ET Q q 0 0 0 rg BT 73.96 245.25 Td (18, ) Tj ET Q q 0 0 0 rg BT 88.41 245.25 Td (Attention: R) Tj ET Q q 0 0 0 rg BT 137.73 245.25 Td (yan ) Tj ET Q q 0 0 0 rg BT 154.49 245.25 Td (T) Tj ET Q q 0 0 0 rg BT 159.85 245.25 Td (. Sims, Chief Financial Of) Tj ET Q q 0 0 0 rg BT 264.66 245.25 Td (ficer and Secretary \(telephone: \(888\) 220-6121\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 221.25 Td (Y) Tj ET Q q 0 0 0 rg BT 51.22 221.25 Td (ou may obtain a copy of our Charter and our bylaws, in which these procedures are set forth, upon written request to our Secretary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 209.25 Td (at the address above.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.00 177.32 Td (By Order of the Board of Directors,) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.00 123.32 Td (Ryan T. 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