Bouwinvest’s Board of Directors consists of one statutory director, also Chairman of the Board, and three managing directors: the Managing Director Finance, the Managing Director Dutch Investments and the Managing Director International Investments.

The role of the Supervisory Board is to supervise the policies of the Board of Directors and the general affairs of the company and its related business. The Supervisory Board has appointed an Audit Committee and a Selection & Remuneration Committee.

General Meetings of Shareholders are held at least once a year to discuss the company’s business over the past year and the annual report, to adopt the financial statements, decide on the dividend proposal, discharge the members of the Board of

Bouwinvest has established an independent internal audit function to help the company meet its operational and business targets by taking a systematic, disciplined approach to evaluation.

The Dutch Management and Supervision Act includes a guideline for a balanced gender ratio within the Board of Directors and Supervisory Board. At least 30% of these positions should be filled by women and at least 30% by men.

Banks, insurance companies and pension funds, but also specialised investment managers like Bouwinvest, have to deal with ever stricter regulations and monitoring by regulatory bodies.

Bouwinvest recognises the importance of a solid framework for risk management, aimed at identifying and mitigating risks, which in turn makes it possible for the company to achieve its goals more effectively.

The Risk Management team uses a risk management cycle to determine how targets are set and achieved. In this annual report, we describe the risk management of the management organisation.

Bouwinvest has an independent compliance function that identifies, assesses and monitors the company’s compliance risks and advises and reports on same.

The Board of Directors has issued an in control statement on the financial reporting risks and strategic and operational risk management at Bouwinvest.