1. Outsourcing Destination Bulgaria Iglika Yordanova, Managing Director, Colliers Bulgaria October 30, 2014

2. BPO/ IT/ SSC Locations in Bulgaria

3. BPO/ SSC Total Take-up Evolution Bulgaria, 2007- 2017 (sq m) *Source: 2017 take-up projections based on the Bulgarian Outsourcing Association prospects Outsourcing business in Bulgaria is expected to double over the next 3 years

4. BPO/ SSC Transaction types Source: Colliers International

5. Secondary Cities – Potential to Grow Secondary cities - Opportunities Untapped talent pool Undergraduate/ Graduate specialization opportunities (Universities) Lower operational costs Sofia – Challenges Vacancy in class A office space dropped to single digit Rental levels have increased Growing competition for talent recruitment in Sofia Source: Colliers International

6. BPO/ SSC Total Take-up Evolution Source: Colliers International

7. BPO/ SSC Total Take-up Share Source: Colliers International

8. BPO/ SSC Business Impact on Real Estate Industry Share Take-up in the Office Segment (sq m) Source: Colliers International 2013 Q1-Q3 2014

9. Business Impact – What’s next? Source: Colliers International Convert Existing Properties into Office Space (Change in Purpose of Use) Upgrade Current Office Stock New Development – Speculative and Built-to-suit

10. Thank you! Colliers International October 30, 2014