| Note | | Total 2014 | Per share 2014 | Total 2013 | Per share 2013 |
| | NAV as per the financial statements | 2,715,283 | 2,602.68 | 2,599,612 | 2,572.97 |
| | Reclassification of certain IFRS liabilities as components of equity | | | | |
| 1 | Effect of reclassifying shareholder loans and hybrid capital instruments (including convertible bonds) that represent shareholders long term interests in a vehicle | - | - | - | - |
| 2 | Effect of dividends recorded as a liability which have not been distributed | - | - | - | - |
| | NAV after reclassification of equity-like interests and dividends not yet distributed | 2,715,283 | 2,602.68 | 2,599,612 | 2,572.97 |
| | Fair value of assets and liabilities | | | | |
| 3 | Revaluation to fair value of investment properties | - | - | - | - |
| 4 | Revaluation to fair value of self-constructed or developed investment property | - | - | - | - |
| 5 | Revaluation to fair value of investment property held for sale | - | - | - | - |
| 6 | Revaluation to fair value of property that is leased to tenants under a finance lease | - | - | - | - |
| 7 | Revaluation to fair value of real estate held as inventory | - | - | - | - |
| 8 | Revaluation to fair value of other investments in real assets | - | - | - | - |
| 9 | Revaluation to fair value of indirect investments not consolidated | - | - | - | - |
| 10 | Revaluation to fair value of financial assets and financial liabilities | - | - | - | - |
| 11 | Revaluation to fair value of construction contracts for third parties | - | - | - | - |
| 12 | Set-up costs | - | - | 600 | 0.59 |
| 13 | Acquisition expenses | - | - | - | - |
| 14 | Contractual fees | - | - | - | - |
| | Effects of the expected manner of settlement of sales/vehicle unwinding | | | | |
| 15 | Revaluation to fair value of savings of purchaser’s costs such as transfer taxes | - | - | - | - |
| 16 | Revaluation to fair value of deferred taxes and tax effect of INREV NAV adjustments | - | - | - | - |
| 17 | Effect of subsidiaries having a negative equity (non-recourse | - | - | - | - |
| | Other adjustments | | | | |
| 18 | Goodwill | - | - | - | - |
| 19 | Non-controlling interest effects of INREV adjustments | - | - | - | - |
| | INREV NAV | 2,715,283 | 2,602.68 | 2,600,212 | 2,573.56 |
| | | | | | |
| | Number of shares issued | 1,043,265 | | 1,010,353 | |
| | Number of shares issued taking dilution effect into account | 1,043,265 | | 1,010,353 | |
| | Weighted average INREV NAV | 2,657,747 | | 2,642,032 | |
| | Weigthed average INREV GAV | 2,668,665 | | 2,650,792 | |
| | Total Expense Ratio (NAV) | 0.56% | | 0.57% | |
| | Total Expense Ratio (GAV) | 0.56% | | 0.56% | |
| | Real Estate Expense Ratio (GAV) | 1.53% | | 1.62% | |