APG FINANCIAL FULL

APG works for approximately 22,000 employers, providing the pension for one in five families in the Netherlands (about 4.7 million participants). APG manages approximately в‚¬613 billion (July 2021) in pension assets for pension funds in the public and private sectors in the Netherlands. SiFiвЂ™s open-access business model allows multiple internet service providers to deliver various services and offerings on its network.ДЇor further information, please visit https:/About APGДЄPG is one of the worldвЂ™s largest independent pension fund managers. SiFi is currently working alongside its delivery partners with more than 40 cities across the United States, covering over 1.5 million homes and businesses and has over 100 cities interested in becoming a FiberCityВ®. SiFiвЂ™s citywide, open-access business model plays a vital role to develop and reinforce the next generation of urban infrastructure for the benefit of the people, the economy and the environment.вЂќДЇounded in 2012, SiFi Networks privately funds, builds and operates citywide, open-access, Smart City enabled fiber networks across the USA.

All over the world, cities are rapidly turning into smart cities.

APG FINANCIAL FULL

APGвЂ™s investment will help accelerate the deployment of full fiber networks future-proofed with Smart City connectivity across the US. Matteo Andreoletti, Head of Infrastructure Europe and North America for Whitehelm Capital, commented, вЂњWhitehelm is pleased to deepen its partnership with APG and SiFi through this transaction. From enabling Smart City applications, driving economic development and closing the digital divide the advantages of becoming a FiberCityВ® are staggering and weвЂ™ve only just scratched the surface of what is possible.вЂќ Cities, Consumers and ISPs can all benefit from our citywide fiber optic networks. APG looks forward to our continued partnership with both SiFi and Whitehelm Capital.вЂќД«en Bawtree-Jobson, CEO at SiFi Networks, commented вЂњWe couldnвЂ™t have asked for a better partner in APG, who has the financial resources and desire to create real social impact to enable our market leading open-access networks to roll out across the USA. Importantly, this investment is expected to deliver an attractive and sustainable return for our pension fund clients and their participants. This partnership also contributes to APGвЂ™s ambition to support digitalization and the energy transition, as fiber is more energy efficient than copper or cable. Patrick Kanters, Managing Director of Global Real Assets, commented, вЂњAPG is excited to announce an additional investment with SiFi that will position the Company to provide vital infrastructure to underserved markets and customers well into the future. The Fullerton network construction is well progressed and live customer connections have commenced.ДЄPG is one of the most active global infrastructure investors and has a growing global presence across the telecommunications sector. Whitehelm manages SCIF, and the inaugural investment in April 2019 was a partnership with SiFi to deploy fiber in Fullerton, California. The Transaction represents a continuation of the partnerships formed from APGвЂ™s participation as the cornerstone investor in the Smart City Infrastructure Fund (вЂњSCIFвЂќ) in November 2018. SiFiвЂ™s networks enable future-proof connectivity and provide smart city solutions aimed at improving the quality of life and generating revenues and savings for cities. With the increased balance sheet capacity of the Company, it is expected to deploy billions of dollars of capex over coming years into open-access FTTH networks.

The Company is constructing FTTH networks in multiple cities and has signed development agreements with many more. SiFi is one of the first companies to successfully deploy FTTH networks in the US under an open-access business model. Whitehelm Capital (вЂњWhitehelmвЂќ) will provide asset management services for the joint venture during the roll-out period. This partnership, including APGвЂ™s US$500 million equity commitment to the Fiber JV, will contribute to bridging the digital divide in the US where over one-third of households do not have access to high-speed internet by offering fiber connections to those underserved communities. Includes an agreement to invest US$500 million of equity in open-access fiber-to-the-home (вЂњFTTHвЂќ) Networks in the USДЄmsterdam/London/New York/ Los Angeles -News Direct- SiFi NetworksДЄPG Group NV (вЂњAPGвЂќ) вЂ“ acting on behalf of its Dutch pension fund clients вЂ“ has signed an agreement to strengthen the existing partnership with SiFi Networks America Limited (вЂњSiFiвЂќ or the вЂњCompanyвЂќ) by acquiring a 16.7% direct stake in the Company and establishing a joint venture (вЂњFiber JVвЂќ) to rollout open-access fiber-to-the-home (вЂњFTTHвЂќ) networks in the US (the вЂњTransactionвЂќ).

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