For 2015, before appropriation of result

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 result attributable to shareholders by the weighted average number of ordinary shares outstanding during the year.

In 2015, € 104.1 million (2014: € 101.5 million) was paid as dividend.

As at 31 December 2015, the Fund’s total future commitments amounted to € 692 million (2014: € 401 million).

The Residential Fund 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 Fund.

Bouwinvest is the manager and the Statutory Director of the Fund. The management fee paid for the year 2015 amounted to € 14.3 million (2014: € 13.3 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 Residential Fund.

As of January 2016, five Dutch pension funds committed for a total of € 152.5 million and shares were issued for € 80.0 million.

Amsterdam, the Netherlands, 14 March 2016