2016 Financial Statements and Dividend

The financial statements for the year 2016, as prepared by the Management Board, have been audited by PricewaterhouseCoopers Accountants N.V., which have issued an Auditor’s Report, which is included in this report, and was extensively discussed in February 2017 by the Audit Committee and the external auditor in the presence of the Management Board and approved by the Supervisory Board.

The Supervisory Board recommends to the Annual General Meeting of Shareholders to approve the proposal to distribute a dividend of €0.31 per share for 2016.

The Supervisory Board recommends that the Annual General Meeting adopts the 2016 Financial Statements and discharge the Management Board and the Supervisory Board from liability for their management in the year under review and the supervision, respectively.

Schiphol, 17 February 2017

On behalf of the Supervisory Board

Kees van der Graaf, Chairman

GrandVision, Shanghai, China