For 2015, before appropriation of profit

The other payables relate to invoices yet to be received for maintenance of and investments in the portfolio.

Basic earnings per share are calculated by dividing the net profit attributable to shareholders by the weighted average number of ordinary shares outstanding during the year.

In 2015, € 29.1 million (2014: € 27.6 million) was paid as dividend.

As at 31 December 2015, the Fund’s total future commitments amounted to € 24 million (2014: € 76 million).

The Retail Fund’s subsidiairies and members of the Supervisory Board and Board of Directors of Bouwinvest Real Estate Investment Management B.V. (Bouwinvest) and the other entities under management by Bouwinvest, qualify as related parties of the

Bouwinvest is the manager and the Statutory Director of the Fund. The management fee paid for the year 2015 amounted to € 3.5 million (2014: € 3.1 million).

The table below shows the fees charged over the year 2015 by Deloitte Accountants B.V. and the Deloitte Network in respect of activities for the Retail Fund.

As of January 2016, the Retail Fund has three new investors. The three new investors committed for a total of € 55 million.

Amsterdam, the Netherlands, 14 March 2016