The Retail Fund has no employees.

 20142013 At the beginning of the year459,494474,978 Additions:   Transfers from investment property under construction9,511- Investments45,94718,878 Total investments55,45818,878 Transfers to investment

 20142013 At the beginning of the year146,94584,477 Investments30,90011,622 Transfer to investment property(9,511)- Transfer from investment property9,279- Net gain (loss) from fair value adjustments on investment

 Book value 31-12-2013DisposalResult 2014Book value 31-12-2014 Retail Development B.V.

 20142013 Trade receivables277191 Bouwinvest Real Estate Investment Management B.V.

 20142013 Bank balances19,0027,758 Balance as at 31 December19,0027,758 Download XLS The cash and cash equivalents are freely available to the Fund as at 31 December 2014.

For 2014, before appropriation of profit  Issued capitalShare premiumRevaluation reserve*Retained earningsNet result for the yearTotal equity Balance at 1 January

 20142013 Trade payables948928 Bouwinvest Development B.V.

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 2014, € 27.6 million (2013: € 41.5 million) was paid as dividend.