Key financial information in 2015 All amounts in € thousands unless otherwise stated Highlights 2015Total Fund return of 12.5%Dividend return of 3.8%Outperformance IPD Property Index (all properties) for sixth consecutive year (2.7%-points)Eight new investors in the FundShares issued for € 192.5 millionAcquisition of 15 projects (2,107 residential units) for a total of around € 470 millionContinued high average financial occupancy rate of 97.6%Like-for-like rent increase of 3.8%Secured pipeline of over € 690 million for 2016 - 2018GRESB Green Star status for second successive year Portfolio at a glance Performance per share Performance per share20152014Dividends (in €)98.3397.88Net earnings (in €)319.75128.47Net asset value IFRS (in €, at year-end)2,823.042,602.68Net asset value INREV (in €, at year-end)2,823.042,602.68 Statement of financial position Statement of financial position20152014Total assets3,170,3332,727,725Total shareholders’ equity3,151,1982,715,283Total debt from credit institutions–– Result Result20152014Net result347,475133,154Total Expense Ratio (TER)0.53%0.56%Real Estate Expense Ratio (REER)1.40%1.53% Fund return PERCENTAGE Total fund return 2015: 12.5% Total fund return 2014: 4.2% Property performance (all properties) Portfolio movements Financial occupancy rate Portfolio figures Portfolio figures20152014Investment property2,833,3092,561,354Investment property under construction205,57965,896Gross initial yield5.7%6.0%Total number of residential units14,45514,181Average monthly rent per unit (in €)966927Financial occupancy rate (average)97.6%96.5%Sustainability (A, B or C label)92.6%92.3%