The pension fund costs chargeable to the financial year can be broken down as follows:

There were no significant events after the balance sheet date.

Amsterdam, 20 March 2019

Profit is appropriated in accordance with Article 4 of the Articles of Association, which stipulates that the General Meeting of Shareholders decides which portion of the profit shall be added to the reserves.

To the shareholder and the Supervisory Board of Bouwinvest Real Estate Investors B.V.

Bouwinvest Real Estate Investors B.V. invests the capital of institutional investors (pension funds and insurance firms) in real estate. We invest for the long term and we do this in a responsible manner, with respect for the world around us.