Can Investing in Global Real Estate Help You Meet Your Financial Goals?

2. Can Investing in Global Real Estate Help You Meet Your Financial Goals? This material must be read in conjunction with the prospectus in order to fully understand all of the implications and risks of Hines Global REIT. This is neither an offer to sell nor a solicitation of an offer to buy the securities described herein, which can only be made by prospectus. A copy of the prospectus must be made available to you in connection with this offering. Neither the Securities and Exchange Commission, the attorney general of the State of New York nor any other state securities regulator has passed on or endorsed the merits Hines Global REIT. Any representation to the contrary is unlawful. Hines Securities, Inc., member FINRA/SIPC, is the dealer/manager. 12/13

3. Summary Risk Considerations An investment in Hines Global REIT involves a high degree of risk. You should purchase these securities only if you can afford the complete loss of your investment. Significant risks include: • We have a limited operating history and the prior performance of other Hines affiliated entities may not be a good measure of our future results; therefore, there is no assurance we will be able to achieve our investment objectives; • There is no public market for our common shares; therefore, it will be difficult for you to sell your shares and, if you are able to sell your shares, you will likely sell them at a substantial discount; • We have not identified any specific assets to acquire or investments to make with all of the proceeds of this offering. You will not have the opportunity to evaluate all of our investments prior to purchasing shares of our common stock; • This is a best efforts offering and as such, there is a risk that we will not be able to accomplish our business objectives and that the poor performance of a single investment will materially adversely affect our overall investment performance, if we are unable to raise substantial funds in the offering; • The availability and timing of distributions we may pay is uncertain and cannot be assured. We have reduced our annualized distribution rate and there can be no assurances that the current distribution rate will be maintained; • Our distributions have been paid and may continue to be paid from sources such as proceeds from our debt financings, proceeds from our public offerings, cash advances by our Advisor, Hines Global REIT Advisors LP, cash resulting from a waiver or deferral of fees and/or proceeds from the sale of assets. We have not placed a cap on the amount of our distributions that may be paid from any of these sources. Distributions have exceeded earnings. To the extent we pay distributions from sources other than our cash flow from operations, we will have less funds available for the acquisition of properties, and your overall return may be reduced; • There are significant restrictions and limitations on your ability to have all or any portion of your shares of our common stock redeemed under our share redemption program and, if you are able to have your shares redeemed, it may be at a price that is less than the price you paid for the shares and the then-current market value of the shares; and • Due to the risks involved in the ownership of real estate investments, there is no guarantee of any return on your investment in Hines Global REIT, Inc., which we refer to as Hines Global, and you may lose some or all of your investment.

4. Summary Risk Considerations Continued • International investment risks, including the burden of complying with a wide variety of foreign laws and the uncertainty of such laws, the tax treatment of transaction structures, political and economic instability, foreign currency fluctuations, and inflation and governmental measures to curb inflation may adversely affect our operations and our ability to make distributions. • We rely on affiliates of Hines for our day-to-day operations and the selection of real estate investments. We pay substantial fees and other payments to these affiliates for these services. These affiliates are subject to conflicts of interest as a result of this and other relationships they have with us and other investment vehicles sponsored by Hines. We also compete with affiliates of Hines for tenants and investment opportunities, and some of those affiliates will have priority with respect to certain investment opportunities. This investment is not suitable for all investors. Please refer to the prospectus for the particular suitability standards in your state. You should read the prospectus carefully for a description of the risks associated with an investment in real estate and in Hines Global REIT. This material contains forward-looking statements (such as those concerning investment objectives, strategies, economic updates, other plans and objectives for future operations or economic performance, or related assumptions or forecasts) that are based on our current expectations, plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties, including without limitation, those in the "Risk Factors" section of the prospectus and in this presentation. Any of these statements could be inaccurate, and actual events or our investments and results of operations could differ materially from those expressed or implied. You are cautioned not to place undue reliance on any forward-looking statements. This presentation may not be used in Ohio or Massachusetts.

5. Important Information about Distributions and Prior Performance Distributions to Investors: The Board determines the timing and amount of distributions. There is no guarantee that distributions will be paid or that the distribution rate will be maintained. We reduced our annualized distribution rate in January 2012. Distributions have exceeded earnings and have been paid from offering proceeds and borrowings. The use of offering proceeds and borrowed funds to pay distributions may adversely impact our ability to pay distributions at the current rate or at all, and could reduce the amount available for investment, which could reduce a shareholder’s overall return. Prior Performance of Other Hines-Sponsored Programs Economic conditions have had an adverse impact on commercial real estate markets during the global recession. In November 2009, Hines Real Estate Investment Trust, Inc. (“Hines REIT”), a public non-traded REIT sponsored by Hines that is closed to new investors, suspended its share redemption program, except with respect to redemptions in connection with the death or disability of a stockholder. Beginning April 1, 2013, the share redemption program was reopened with respect to ordinary redemption requests, at $5.75 per share ($6.75 per share for requests in connection with the death or disability of a stockholder). Beginning with eligible redemption requests that are redeemed on January 1, 2014, if any, ordinary share redemptions will be redeemed at a price of $5.45 per share ($6.40 per share for requests in connection with the death or disability of a stockholder). Funds for redemption generally will be limited to DRP proceeds from the prior quarter. However, Hines REIT’s Board of Directors may approve requests for redemptions in excess of this amount, as long as the total amount redeemed does not exceed the amount required to redeem 10% of Hines REIT’s shares outstanding as of the same date in the prior calendar year. In May 2011, Hines REIT’s board of directors determined an estimated per share net asset value (“NAV”) of $7.78, a reduction from the most recent offering price of $10.08. In November 2012, Hines REIT’s board determined an estimated per share NAV of $7.61. Subsequently, Hines REIT declared a special distribution of $.80 per share, which, combined with the additional special distributions (all of which represent a return of capital) paid since Hines REIT’s announcement of an estimated per share NAV of $7.61, resulted in a reduction of the estimated per share NAV to $6.75, effective April 2, 2013. On November 25, 2013, the Hines REIT’s board established a new estimated per share NAV of $6.40, based on independent third-party appraisals and other factors. In addition, Hines REIT decreased its distribution rate in July 2010 and further decreased the rate in April 2013. Several of Hines’ privately offered programs have experienced adverse economic developments in recent years due to the global financial crisis and deteriorating economic conditions in several European and Latin American countries, Mexico and several U.S. markets. The adverse market conditions may cause these programs to alter their investment strategy, generate returns lower than originally expected,or ultimately incur losses.

6. About the Sources and Indexes in this Presentation • This presentation contains information in the form of charts, graphs and/or statements that we indicate were obtained by us from published sources or provided to us by independent third parties, some of whom we pay fees for such information. We consider such sources to be reliable. It is possible that data and assumptions underlying such third-party information may have changed materially since the date referenced. You should not rely on such third-party information as predictions of future results. None of Hines, its affiliates or any third-party source undertakes to update any such information contained herein. Further, none of Hines, its affiliates or any third-party source purports that such information is comprehensive, and, while it is believed to be accurate, it is not guaranteed to be free from error, omission or misstatement. Hines and its affiliates have not undertaken any independent verification of such information. Finally, you should not construe such third-party information as investment, tax, accounting or legal advice. • Direct Real Estate is represented by the NCREIF Property Index (NPI), which differs from an investment in non-traded REITs and from an investment in Hines Global REIT. The NPI is a measure of quarterly investment performance of a very large pool of individual commercial real estate properties acquired in the private market for investment purposes only. All properties in the NPI have been acquired, at least in part, on behalf of tax-exempt institutional investors - the great majority being pension funds. The NPI is used as a commercial real estate industry benchmark to compare an investor’s own returns against the industry average. The NPI is not a measure of non-traded REIT performance and differs because the NPI does not include the impact of leverage or fees. • Hines Global REIT differs from the NPI and its programs in several respects, including: it uses debt; it requires the payment of up-front and other fees that typically exceed those of institutional programs, as well as the payment of expenses related to being a public company; you will be investing in securities of a company and not directly in real estate; and the value of an investment in Hines Global REIT may not be based solely on the appraised value of the underlying properties.The share price was determined by the Hines Global REIT Board of Directors in its sole discretion and does not represent the current value of the properties in the portfolio, and may be higher or lower than the value of the properties in the portfolio at any given time. The share price includes a sales charge, which reduces the amount available for investment. • Additionally, the NPI and its programs pay income from cash flow from operations. Hines Global REIT pays distributions from sources other than cash flow from operations including borrowings and offering proceeds, which may lower returns. Please see “Distributions to Investors” on slide number 4 for information on the sources of Hines Global REIT’s distributions. The index shows returns at the property level and does not reflect the impact of management and other investment-entity level fees and expenses, as well as fees and expenses associated with raising capital, which lower returns. • Information on Hines Global REIT’s performance can be found in its most recent financial reports, which you can access by visiting http://www.hinessecurities.com/hines-global-reit/sec-filings/.

7. More about the Sources and Indexes in this Presentation Traded REITs are represented by the NAREIT Equity REIT Index, which is an unmanaged index reflecting performance of the U.S. REIT market; it includes only publicly traded REIT stocks. Large-cap stocks are represented by the S&P 500 Index; small cap stocks are represented by the Wilshire 5000 Index. The prices of equity securities represented by these indices may change in response to factors including: the historical and prospective earnings of the issuer, the value of its assets, general economic conditions, interest rates and investor perceptions. Additionally, investing in smaller company stocks involves risks not associated with investing in more established companies, such as business risk, greater price fluctuations and illiquidity. Bonds are represented by the Barclays Capital U.S. Aggregate Bond Index (formerly Lehman Aggregate), which is an unmanaged index representing the U.S. investment grade, fixed-rate bond market with components for government and corporate securities, mortgage pass-through securities and asset backed securities. Bonds are subject to interest rate risk which refers to the risk that bond prices generally fall when interest rates rise and vice versa. Cash is represented by the 90-day U.S. Treasury Bill, which is guaranteed as to timely repayment of principal and interest by the U.S. government. An investment in real estate has no such guarantees. Global real estate is represented by the IPD Global Property Index, a market-weighted unmanaged index that measures the combined performance of professionally managed real estate in 23 countries. Professionally managed real estate includes pension plan and life company funds, charities, endowments, open- and closed-ended unlisted pooled funds, and listed and unlisted property companies. See slide 1 for a description of the risks associated with international real estate investing. All indexes are unmanaged and do not include the impact of fees and expenses. An investment cannot be made directly in any index. Not for use in OH or MA.

8. Agenda • Historical Benefits of Real Estate • Opportunities in Global Real Estate • Hines Experience • Hines Global REIT

9. What Are Your Financial Goals? Four Brindleyplace,* Birmingham, England • Income • Growth • Diversification *Hines Global REIT has a 60% interest in this property through a joint venture with Moorfield.

10. Historical Benefits of Real Estate

11. How Institutions Seek Real Estate’s Potential Benefits 8.42% of an institution’s total portfolio was invested in real estate in 2012* • Income potential • Long-term growth opportunities • Inflation protection1 • Diversification2 *Source: 2013 Plan Sponsor Survey by Institutional Real Estate, Inc. and Kingsley Associates. Used with permission. It is important to note that institutional investors invest on substantially different terms, including lower fees and expenses, than those offered by Hines Global REIT. Hines Global REIT does not have and does not expect to have a material number of institutional investors. 1Currently we are not experiencing inflation. A continued economic slowdown or the development of other negative economic conditions in the markets in which Hines Global REIT operates may significantly affect occupancy, rental rates and its ability to collect rent from our tenants as well as its property values. 2Diversification does not guarantee a profit or protect against a loss.

12. Relatively Low Correlation to Other Asset Classes Source: Property and Portfolio Research (PPR). Data as of 9/30/13. Direct Real Estate is represented by the NCREIF Property Index (NPI), which differs from an investment in non-traded REITs and from an investment in Hines Global REIT. Please see slides 5 and 6 for an explanation of these differences, for information about how to access Hines Global REIT’s most recent performance and for more information about the indices shown on this slide. Charts are for illustrative purposes only and are not intended to reflect or forecast results for an actual investment portfolio or an investment in a REIT. An investment cannot be made directly in any index. Past performance cannot guarantee future results. Asset allocation/diversification does not guarantee a profit or eliminate the risk of loss.

13. Potential to Generate Income September 1998 – September 2013 9/30/13 Source: PPR. Data as of 9/30/13. Past performance cannot guarantee future results. Please see slides 5 and 6 for an explanation of the differences between an investment in direct real estate, non-traded REITs and Hines Global REIT. Information on Hines Global REIT’s performance can be found in its most recent financial reports, which you can access by visiting http://www.hinessecurities.com/hines-global-reit/sec-filings/. Charts are for illustrative purposes only and are not intended to reflect or forecast results for an actual investment portfolio or an investment in a REIT. An investment cannot be made directly in an index. Please note that Hines Global REIT pays distributions from sources other than cash flow from operations including borrowings and offering proceeds, which may lower returns. Distributions are not guaranteed and may be reduced. Please see “Distributions to Investors” on slide number 4 for information on the sources of Hines Global REIT’s distributions.

14. Real Estate Has Shown Relatively Low Volatility; Modest Growth Potential September 1998 – September 2013 Standard Deviation 17.99% 3.51% 22.64% 5.21% Source: PPR. Data as of 9/30/13. Direct Real Estate is represented by the NCREIF Property Index (NPI), which differs from an investment in non-traded REITs and from an investment in Hines Global REIT. Please see slides 5 and 6 for an explanation of these differences, for information about how to access Hines Global REIT’s most recent performance and for more information about the indices shown on this slide. Charts are for illustrative purposes only and are not intended to reflect or forecast results for an actual investment portfolio or an investment in a REIT. Investing in direct real estate is not the same as investing in a non-traded REIT, though both lack ready liquidity. A non-traded REIT provides pooled access to the real estate held in the portfolio. You cannot get your money back easily, and if you are able to redeem shares, the redemption price may be less than your original investment. Share prices of non-traded REITs are often determined arbitrarily when they are launched, and those prices may be more or less than the value of the properties within the portfolio. An investment cannot be made directly in any index. Past performance cannot guarantee future results.

15. Inflation Hedge Inflation isn’t here … yet* Real estate hedges inflation • Rents have historically increased • Cost of materials to construct a new property have typically increased • Property values have often increased *A continued economic slowdown or the development of other negative economic conditions in the markets in which Hines Global REIT operates may significantly affect occupancy, rental rates and its ability to collect rents from its tenants, as well as cause its property values to decrease.

16. A REIT Provides a Convenient Way to Invest in Commercial Real Estate 1There are other differences between the two types of REITs, such as fee structures and information available from investment analysts. Please see the prospectus and talk to your financial advisor. 2An investment in any non-traded REIT does not have the same level of share price transparency as a traded investment. Share prices are typically determined arbitrarily when the offering is launched and those prices may be more of less than the value of the properties within the portfolio at any given time. Also, non-traded REIT share prices include a sales charge which reduces the amount available for investment and reduces overall return.

17. Public Non-Traded REITs Are Not RELPs

18. Tax Reporting: 1099-DIV Non-Traded REIT Investment 123 Any Street Any Town, ST 11111 Total Ordinary Dividends $1,152 $3,765 TAX- DEFERRED DISTRIBUTIONS TAXABLE DISTRIBUTIONS This information is not intended as tax advice, and this explanation does not address state and local tax issues. You should consult a tax professional if you have questions about the tax ramifications of a REIT investment. To qualify as a REIT, Hines Global REIT must distribute 90% of taxable income. If we fail to qualify as a REIT, we would be subject to federal income tax and any applicable alternative minimum tax on our taxable income at regular corporate rates. In calculating our taxable income in a year in which we fail to qualify as a REIT, we would not be able to deduct amounts paid out to stockholders. In fact, we would not be required to distribute any amounts to stockholders in that year. In such event, to the extent of our current and accumulated earnings and profits, distributions to stockholders generally would be taxable as dividend income.

19. Opportunities in Global Real Estate

20. Why Invest Globally? United States 25% Office 8.8% Multifamily 6.3% Europe 35% Retail 5.8% Industrial 3.5% Hospitality 0.6% Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates 3% Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates 3% Canada 3% Latin America 7% Asia Pacific 27% *Sources: A Bird’s Eye View of Global Real Estate Markets: 2012 Update, Prudential Real Estate Investors Research. Used with permission. NCREIF Property Index for U.S. market sector percentages as of 9/30/13.

21. Correlation of Office Market Returns September 1998 to September 2013 U.S./U.S. Avg: 0.76 U.S./Europe Avg: 0.29 Source: PPR. Data as of 9/30/13. Past performance cannot guarantee comparable future results.

22. Diversification: Top and Bottom Performers Best Performers Worst Performers Sources: PPR and IPD. IPD (Investment Property Databank) is an independent data provider that performs analysis for the owners, investors, managers and occupiers of real estate.  Direct Real Estate is represented by the NCREIF Property Index (NPI), which differs from an investment in non-traded REITs and from an investment in Hines Global REIT. Please see slides 5 and 6 for an explanation of these differences, for information about how to access Hines Global REIT’s most recent performance and for more information about the indices shown on this slide.  Charts are for illustrative purposes only and are not intended to reflect or forecast what a potential return would be for an actual investment portfolio or an investment in a REIT. An investment cannot be made directly inany index. Past performance cannot guarantee future results. Asset allocation/diversification does not guarantee a profit or eliminate the risk of loss.

23. Income Growth in Emerging Countries Projected to Surpass the U.S. Average annual per capita income growth* By 2050, 19 of the world’s largest economies will be in countries that are now considered emerging Source: HSBC Global Research, “The World in 2050: From the Top 30 to the Top 100,” January 2012. *Percentages are calculated in constant year 2000 U.S. Dollars. There is no guarantee that income will grow as anticipated. The projected income growth shown in this chart is not reflective of Hines Global REIT’s actual or anticipated economic performance.

24. Hines, Your Global Real Estate Partner

25. Hines Organization* Jeff Hines and Gerald Hines Data as of 6/30/13. *Hines is the sponsor of Hines Global REIT. Investors are not acquiring an interest in Hines. • Founded in 1957 • Began international expansion in theearly 1990s • Approximately 3,300 employees worldwide • Hines USA approx. 2,275 • Hines International approx. 1,025 • Recognized leader in sustainability practices

26. Hines: A Recognized Leader in Global Real Estate • 111 cities • 3,300 employees Regional Offices Offices • 18 countries As of 6/30/13. *There is no guarantee that Hines’ experience will translate to positive results for Hines Global REIT.

27. Experienced Leadership Data as of 6/30/13. *All 12 employees who are part of Hines’ Leadership/Executive Committee have individual tenures of between 27 and 57 years, with an average tenure within the organization of 35 years as of June 30, 2013. There is no guarantee that Hines’ experience will translate to positive results for Hines Global REIT. Investors are not acquiring an interest in Hines. Also, none of these individuals are employed by nor involved in the day-to-day operations of Hines Global REIT.

28. Hines: A Distinguished Track Record for 56+ Years Investors will not be receiving an interest in Hines or its affiliates. The performance and experience of Hines may not translate into positive results for Hines Global REIT. Hines and its affiliates receive substantial fees and payments and are subject to numerous conflicts of interest. Hines’ previous programs and investments were conducted through privately held entities not subject to the up-front commissions, fees and expenses associated with the REITs we offer or all of the laws and regulations to which public programs are subject. Investors should not assume that the performance of Hines’ previous programs will be indicative of future results. Investors should not assume that the performance of Hines’ previous programs will be indicative of Hines Global REIT’s future results. Several Hines-sponsored programs have experienced adverse economic developments. Please see slide number 4 for information about the “Prior Performance of Other Hines-Sponsored Programs.”

29. Hines Global REIT

30. Hines Global REIT Strategy and Objectives 1 • Pay regular cash distributions2 • Preserve invested capital • Achieve attractive total returns • Invest in a diversified real estate portfolio FM Logistic Industrial Park Moscow, Russia 1Hines Global REIT may not achieve any of its objectives. 2Distributions were, are being and may continue to be paid from sources other than cash flow from operating activities, including proceeds from debt financings and offering proceeds, which reduce the funds available for acquisitions and may reduce stockholders’ overall return. Distributions have exceeded earnings. PLEASE SEE SLIDE NUMBER 4 FOR MORE INFORMATION ON HOW DISTRIBUTIONS ARE FUNDED AND THE RISKS ASSOCIATED THEREWITH.The Hines Global REIT Board of Directors may also amend or terminate the distribution reinvestment plan for any reason upon 10 days prior notice. This property is part of the Hines Global REIT portfolio.

31. Hines Global REIT Investment Cycle Invest in quality properties with quality tenants in prime locations Manage properties to generate income and create value1 Realize value through sales of properties, the portfolio, a merger or a listing2 You should not assume that the experience of Hines will translate to positive results for Hines Global REIT. 1The Hines Global REIT Board of Directors determines the timing and amount of distributions. There is no guarantee that distributions will be paid or that the distribution rate will be maintained. PLEASE SEE SLIDE NUMBER 4 FOR MORE INFORMATION ON HOW DISTRIBUTIONS ARE FUNDED AND THE RISKS ASSOCIATED THEREWITH. 2The Hines Global REIT Board of Directors has the sole discretion to consider a liquidity event at any time if it determines such event to be in Hines Global REIT’s best interests. A liquidity event is not guaranteed and may be postponed. There is no guarantee that Hines Global REIT will achieve the objectives shown in this process. Building photos are of properties that are part of the Hines Global REIT portfolio.

32. Hines Global REIT Potential Benefits and Features 1The share price was determined by the Hines Global REIT Board of Directors at its sole discretion and does not represent the current value of the properties in the portfolio, and may be higher or lower than the value of the properties in the portfolio at any given time. The share price includes a sales charge, which reduces the amount available for investment. 2The Hines Global REIT Board of Directors determines the timing and amount of distributions. There is no guarantee that distributions will be paid or that the distribution rate will be maintained. PLEASE SEE SLIDE NUMBER 4 FOR MORE INFORMATION ON HOW DISTRIBUTIONS ARE FUNDED AND THE RISKS ASSOCIATED THEREWITH. The Board may amend or terminate the distribution reinvestment plan for any reason upon 10 days prior notice. 3The Hines Global REIT Board of Directors has the sole discretion to consider a liquidity event at any time if it determines such event to be in Hines Global REIT’s best interests. A liquidity event cannot be guaranteed and may be postponed. • $10.28 share price1 • Monthly distributions2 • Distribution reinvestment at $9.77 per share • Declared daily, paid monthly • Expects to consider a liquidity event between 2017 – 20193

33. Share Redemption Plan Limits on share redemptions • Monthly redemption funds limited to funds received from distribution reinvestment plan in the prior month • For any 12-month period, redemptions limited to 5% of outstanding shares at the start of that period • Board may terminate, suspend or amend the share redemption program upon 30 days notice without shareholder approval • The redemption price may be less than the original amount invested • Investors may not be able to redeem their shares Monthly redemptions • One-year hold applies • For death and disability, one-year hold waived; during the offering, shares may be redeemed at a purchase price equal to the lesser of the price paid to acquire such shares and the then current offering price

34. Suitability and Account Facts • Investor suitability • $70,000 income and $70,000 net worth or $250,000 net worth (in either case, excluding an investor’s home, home furnishings and autos) • Several states have more stringent suitability standards; see the prospectus for details • Available in taxable and tax-deferred accounts • $2,500 minimum initial investment; $50 subsequent; see prospectus for specific state requirements • 1099 reporting Southpark Commerce Center II Austin, TX This property is part of the Hines Global REIT portfolio.

35. Summary 50 South Sixth Minneapolis, MN Can investing in global real estate help you meet your financial goals? • Benefits of investing in real estate • Opportunities in global real estate investing • Hines and Hines Global REIT This property is part of the Hines Global REIT portfolio.

36. Thank YouFor More Information,Talk to Your Financial Advisor