AXA Property Trust has an independent Board of Directors. The investment manager is AXA Investment Managers UK Limited and the real assets adviser is AXA Real Assets Investment Managers.

Board of Directors

The Board consists of three non-executive directors, of which Mr. Scott is Chairman. All directors are considered by the Board to be independent of the Company's Investment Manager. The Board is responsible for the determination of the Company's investment objective and policy, plus has overall responsibility for the Company's activities. The Board approves all major transactions and meets at least quarterly.


AXA Investment Managers (AXA IM)

The Manager, AXA Investment Managers UK Limited, provides investment advice and management services. It advises the company on the overall management of investments. The Board delegates the daily investment management and administration of the Company to the Manager.

> Visit the AXA Investment Managers Corporate website for more information.

AXA Real Assets Investment Managers (AXA Real Assets)

The Real Assets Adviser, AXA Real Assets Investment Managers Limited, provides advice to the Manager with regard to management services, buying, selling and dealing in investments and interest rate hedging.

> Visit the AXA Real Assets website for more information.