Bouwinvest received a management fee of € 34.3 million in 2017 (2016: € 30.7 million), € 33.3 million (2016: € 29.2 million) of which was based on the assets under management.

The pension fund costs chargeable to the financial year can be broken down as follows:

There were no significant events after the balance sheet date.

Amsterdam, 19 March 2018

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