20142013 Wages and salaries10,75310,553 Social security charges1,2131,116 Pension fund charges1,8001,911 Temporary staff989980 Other personnel costs2,2592,255 Total17,01416,815 Download XLS The pension fund

 20142013 Office expenses2,1312,270 Automation expenses2,7532,963 Communicactions expenses523626 Consultancy costs411334 Research and Investor Relations costs249236 Other

 20142013 Result from group companies(569)576 Result from other participations23876 Result from participations(331)652 Download XLS

 20142013 Other interest income214 Interest income214 Download XLS

 20142013 Result before taxes2,9532,653     Corporate income tax(727)(653) Income from tax loss carry-forward9472,903 Corporate income tax previous years-- Total2202,250 Download XLS

Amsterdam, the Netherlands, 16 March 2015 The Board of Directors Dick van Hal, Chairman of the Board of Directors and Statutory Director Arno van Geet, Managing Director Finance Allard van Spaandonk, Managing Director Dutch

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

The General Meeting of Shareholders held on 24 April 2014 adopted and approved the 2013 financial statements. The profit for 2013 of € 4,903,000 was added to the retained earnings.

The management proposes that the General Meeting of shareholders approve the addition of the profit to the retained earnings. Net profit for the year amounts to € 3,173,000.

Bouwinvest has no significant subsequent events that need to be disclosed.