Amsterdam, the Netherlands, 14 March 2016

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 20 April 2015 adopted and approved the 2014 financial statements. A dividend of € 2,186,000 has been paid. The profit for 2014 of € 3,173,000 was added to the retained earnings.

The management proposes that the General Meeting of shareholders approve the proposal to pay € 2,700,000 dividend and to incorporate € 1,721,740 of the profit to the retained earnings. The net profit for the year amounts to € 4,421,740.

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

This report contains standard disclosures from the Global Reporting Initiative (GRI) G4 Sustainability Reporting Guidelines (core) and use the GRI Construction and Real Estate Sector Supplement (CRESS).

CSR targets 2014-2016

* This is a bi-annual survey. The latest survey was conducted in 2014.