Chairman of the Board of Directors and Statutory Director D.J. (Dick) van Hal (1958, Dutch) Dick van Hal has been Chairman of the Board of Directors since his appointment on 1 March 2008.

The Dutch economy is projected to grow slightly by 1.5% in 2015. The modest economic growth projected for 2015 is partly due to increased household consumption and a rise in business investments.

The Fund’s strategy is to optimise its portfolio through targeted acquisitions, continuous enhancement of core assets and the divestment of non-core office buildings.

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