The Residential Fund has no employees.

 20142013 At the beginning of the year2,535,8542,597,675 Additions:   Transfer from investment property under construction114,46795,399 Investments652965 Total

 20142013 At the beginning of the year57,21360,146 Investments117,35487,979 Transfer to investment property(114,467)(95,399)     Net gain (loss) from fair value adjustments on investment property

 20142013 Trade receivables1,6941,877 Bouwinvest Real Estate Investment Management B.V.

 20142013 Bank deposits- - Bank balances98,11612,481 Balance as at 31 December98,11612,481 Download XLS The cash and cash equivalents (balance and deposits) were freely available to the Fund as at 31 December 2014.

For 2014, before appropriation of result  Issued capitalShare premiumRevaluation reserve*Retained earningsNet result for the yearTotal equity Balance at 1 January

 20142013 Trade payables4,1831,579 Rent invoiced in advance1,9351,107 Tenant deposits4,6733,532 VAT payable8182,324 Other payables833850 Balance as at 31 December12,4429,392 Download XLS The other payables relate

Basic earnings per share are calculated by dividing the net result attributable to shareholders by the weighted average number of ordinary shares outstanding during the year.

In 2014, € 101.5 million (2013: € 102.6 million) was paid as dividend.

As at 31 December 2014, the Fund’s total future commitments amounted to € 401 million (2013: € 141 million).