Portfolio composition at year-end 2014: 30 properties across the Netherlands 285,062 m2 of lettable floor space Total value investment property € 560 million Diversification guidelines and investment restrictions During the financial

The Fund booked an income return (ROE) of 5.7% in 2014, 0.1%-points higher than in 2013. This higher income return was mainly due to the repayment share premium, declining the NAV.

Multifunctional and sustainable the future of office The Fund's main focus in the years ahead will be to optimise the portfolio, by investing in sustainable and multifunctional buildings that can accommodate multiple tenants or can be refitted to

Bouwinvest believes it has a responsibility to make sure that its investments meet sustainability criteria and that we operate in a responsible and ethical manner.

Close cooperation with our tenants and other stakeholders is an important element in our sustainability strategy.

Monitoring environmental performance data (energy and water consumption, greenhouse gas emissions and waste) is an important part of managing sustainability issues.

Each quarter, we compare energy use in quarterly benchmarking reports, giving us a clear overview of the energy use per building.

Bouwinvest Dutch Institutional Office Fund N.V. (the Office Fund) was established in 2010. Stichting Bedrijfstakpensioenfonds voor de Bouwnijverheid (bpfBOUW, the pension fund for the construction industry) is the Office Fund’s anchor investor.

The Office Fund is structured as an investment company with variable capital, as defined in article 2:76a of the Dutch Civil Code, with its corporate seat in Amsterdam, the Netherlands.

All amounts in € thousands unless otherwise stated  Note 2014 2013 Gross rental income637,920  37,784   Service charge income66,640  8,188   Other income 1,805 807 Revenues  46,365