installation-path
Where is the .NET Framework 4.5 directory?
.NET 4.5 is an in place replacement for 4.0 – you will find the assemblies in the 4.0 directory. See the blogs by Rick Strahl and Scott Hanselman on this topic. You can also find the specific versions in: C:\Program Files (x86)\Reference Assemblies\Microsoft\Framework\.NETFramework