CONSOLIDATED ANNUAL ACCOUNT IN THOUSAND EURO

47 9 EUR Nr. Date of the deposition No. 0440.653.281 PP. B. D. CONSO 1 CONSOLIDATED ANNUAL ACCOUNT IN THOUSAND EURO NAME OF THE CONSOLIDATING ENTERPRISE OR THE CONSORTIUM (1)(2) : De Persgroep Legal form: PLC Address: Brusselsesteenweg Nr.: 347 Postal Code: 1730 City: Asse Country: Register of Legal Persons (RLP) - Office of the commercial court at: Bruxelles Internet address (3) : Company number: 0440.653.281 CONSOLIDATED ANNUAL ACCOUNTS presented to the General Meeting of 14/05/2012 concerning the financial year covering the period from 1/01/2011 till 31/12/2011 Previous period from 1/01/2010 till 31/12/2010 The amounts of the previous financial year are / are not (1) ** identical to those which have been previously published. COMPLETE LIST WITH name, first name, profession, residence-address (address, number, postal code, municipality) and position with the enterprise, OF DIRECTORS, MANAGERS AND AUDITORS Criel Ludwig Zinkvalstraat 5, 2630 Aartselaar, Title : President of the board of directors Mandate : 10/05/2011-12/05/2014 Van Thillo Christian Olmenlaan 4, 2610 Wilrijk (Antwerpen), Title : Delegated director Mandate : 10/05/2011-12/05/2014 Convent Christophe Kontichhof 19, 2550 Kontich, Title : Director Mandate : 10/05/2011-12/05/2014 Enclosed to these consolidated accounts: REGARDING THE CONSOLIDATED ACCOUNTS OF A FOREIGN COMPANY: Name of the Belgian subsidiary which filed the consolidated accounts (Article 113, 2, 4 a of Company Law) Total number of pages deposited: 37 of service: 4.3, 4.4, 4.7, 4.8.1, 4.8.4, 4.16, 5, 6 Number of the pages of the standard form not deposited for not being Signature (name and position) Signature (name and position) (1) Delete where appropriate. (2) A consortium shall complete section CONSO 4.4. (3) Optional statement.

Nr. 0440.653.281 CONSO 1 LIST OF DIRECTORS, MANAGERS AND AUDITORS (continuation of the previous page) Van Thillo Emmanuel Welvaartstraat 1, 2530 Boechout, Title : Director Mandate : 10/05/2011-12/05/2014 Seynave Léon Zwinlaan 7, 8300 Knokke-Heist, Title : Director Mandate : 10/05/2011-12/05/2014 Verbeeck Eric Golflei 18, 2950 Kapellen (Antw.), Title : Director Mandate : 10/05/2011-12/05/2014 Burggraaf Jan Louis Keizersgracht 576, 1017 EM Amsterdam, Holland Title : Director Mandate : 10/05/2011-12/05/2014 Sevinga Ieko Akkerweg 12, 3862 NP Nijkerk, Holland Title : Director Mandate : 23/12/2011-12/05/2014 AUDITOR(S) PricewaterhouseCoopers Bedrijfsrevisoren CALL 0429.501.944 Woluwedal 18, 1932 Sint-Stevens-Woluwe, Mandate : 10/05/2011-12/05/2014 Number of membership: B00009 Represented by: 2/37

Nr. 0440.653.281 CONSO 1 LIST OF DIRECTORS, MANAGERS AND AUDITORS (continuation of the previous page) Dams Eddy W. Wilsonplein 5G, 9000 Gent, Commissaris Number of membership: A-00804 3/37

Nr. 0440.653.281 CONSO 2.1 CONSOLIDATED BALANCE SHEET AFTER APPROPRIATION (1) ASSETS FIXED ASSETS... Formation expenses... Notes 4.7 Codes Period Previous period 20/28 389.253 434.923 20 Intangible fixed assets... 4.8 21 8.638 11.831 Positive consolidation differences... 4.12 9920 198.308 232.268 Tangible fixed assets... 4.9 22/27 180.592 189.348 Land and buildings...... Plant, machinery and equipment...... Furniture and vehicles.... Leasing and other similar rights...... Other tangible fixed assets...... Assets under construction and advance payments...... 22 23 24 25 26 27 108.529 61.202 9.899 321 553 88 110.808 66.942 10.482 451 334 331 Financial fixed assets... 4.1-4 28 1.715 1.476 Companies accounted for using the equity method... 4.10 9921 326 465 Participating interests... 99211 326 465 Amounts receivable... 99212 Other enterprises... 4.10 284/8 1.389 1.011 Participating interests and shares... 284 1.122 701 Amounts receivable... 285/8 267 310 CURRENT ASSETS... 29/58 358.896 329.807 Amounts receivable after more than one year... Trade debtors... Other amounts receivable... 29 290 291 27.435 Deferred taxation... 292 27.137 31.784 298 32.485 701 Stocks and contracts in progress... 3 40.885 44.281 Stocks (2)... 30/36 40.885 41.879 Raw materials and consumables... 30/31 40.441 40.524 Work in progress... 32 Finished goods... 33 Goods purchased for resale... 34 444 1.355 Immovable property intended for sale... 35 Advance payments... 36 Contracts in progress... 37 2.402 Amounts receivable within one year... 40/41 162.653 165.186 Trade debtors... 40 158.085 161.285 Other investments and deposits... 41 4.568 3.901 Current investments... 50/53 66.697 32.581 Own shares... 50 Other investments and deposits... 51/53 66.697 32.581 Cash at bank and in hand... 54/58 48.491 39.693 Deferred charges and accrued income... 490/1 12.735 15.581 TOTAL ASSETS... 20/58 748.149 764.730 (1) Article 124 of the Royal Decree of January, 30 2001 in implementation of Company Law. (2) Items regarding stocks can be aggregated (Article 158, 1, subsection 2 of the above-mentioned Royal Decree). 4/37

Nr. 0440.653.281 CONSO 2.2 EQUITY AND LIABILITIES EQUITY... Capital... Issued capital... Uncalled capital... Share premium account... Revaluation surpluses... Consolidated reserves... Negative consolidation differences... Investment grants... Notes 4.11 4.12 Codes Period Previous period 10/15 10 100 101 11 12 9910 9911 To charge positive consolidation differences... 99201 Translation differences... 9912 15 235.347 16.475 16.475 215.193 3.679 220.499 16.475 16.475 200.089 3.935 MINORITY INTERESTS Minority interests... 9913 84.533 80.897 PROVISIONS, DEFERRED TAXES AND LATENT TAXATION LIABILITIES... 16 38.497 51.885 Provisions for liabilities and charges... Pensions and similar obligations... 160/5 160 32.732 10.445 50.062 10.246 Taxation... 161 72 211 Major repairs and maintenance... 162 287 272 Other liabilities and charges... 163/5 21.928 39.333 Deferred tax and latent taxation liabilities... 4.6 168 5.765 1.823 AMOUNTS PAYABLE... 17/49 389.772 411.449 Amounts payable after more than one year... Financial debts... 4.13 17 170/4 57.525 55.692 77.869 75.371 Subordinated loans... 170 4.000 5.000 Unsubordinated debentures... 171 Leasing and other similar obligations... 172 225 381 Credit institutions... 173 45.703 61.784 Other loans... 174 5.764 8.206 Trade debts... 175 1.661 2.166 Suppliers... 1750 1.661 2.166 Bills of exchange payable... 1751 Advances received on contracts in progress... 176 Other amounts payable... 178/9 172 332 Amounts payable within one year... 4.13 42/48 233.600 220.065 Current portion of amounts payable after more than one year falling due within one year... Financial debts... 42 43 22.553 27.795 Credit institutions... 430/8 Other loans... 439 Trade debts... 44 123.099 112.334 Suppliers... 440/4 123.099 112.334 Bills of exchange payable... 441 Advances received on contracts in progress... 46 Taxes, remuneration and social security... 45 62.604 59.764 Taxes... 450/3 19.217 19.944 Remuneration and social security... 454/9 43.387 39.820 Other amounts payable... 47/48 25.344 20.172 Deferred charges and accrued income... TOTAL LIABILITIES... 492/3 10/49 98.647 113.515 748.149 764.730 5/37

Nr. 0440.653.281 CONSO 3 CONSOLIDATED INCOME STATEMENT (Analysis of operating results by type) Notes Codes Period Previous period Operating income... 70/74 929.460 931.747 Turnover... 4.14 70 899.480 912.659 Increase (decrease) in stocks of finished goods, work and contracts in progress... Own construction capitalised... 71 72 30 Other operating income... 74 29.980 19.058 Operating charges... Raw materials, consumables... 60/64 60 822.150 183.328 830.603 160.500 Purchases... Increase (Decrease) in stocks... 600/8 609 179.933 3.395 159.823 677 Services and other goods... 61 372.718 400.139 Remuneration, social security costs and pensions... 4.14 62 227.131 220.974 Depreciation of and amounts written off formation expenses, intangible and tangible fixed assets... 630 33.942 39.495 Amounts written down stocks, contracts in progress and trade debtors - Appropriations (write-backs)... 631/4 561-499 Provisions for risks and charges - Appropriations (uses and write-backs)... 635/7 1.581 6.527 Other operating charges... 640/8 2.889 3.467 Operation charges carried to assets as restructuring costs... (-) 649 Amounts written down on positive consolidation differences 9960 Operating profit (Operating loss)... 9901 107.310 101.144 Financial income... 75 2.457 5.346 Income from financial fixed assets... 750 306 120 Income from current assets... 751 873 4.157 Other financial income... 752/9 1.278 1.069 Financial charges... 65 39.897 43.350 Debt charges... 650 4.903 8.897 Amounts written down on positive consolidation differences 9961 30.599 29.499 Amounts written down on current assets except stocks, contracts in progress and trade debtors... 651 433 381 Other financial charges... 652/9 3.962 4.573 Profit (loss) on ordinary activities before taxes... 9902 69.870 63.140 6/37

Nr. 0440.653.281 CONSO 3 Extraordinary income... Write-back of depreciation and of amounts written down intangible and tangible fixed assets... Adjustments to amounts written off consolidation differences... Write-back of amounts written down financial fixed assets Write-back of provisions for extraordinary liabilities and charges... Gain on disposal of fixed assets... Other extraordinary income... Notes 4.14 Codes Period Previous period 76 18.284 60.535 760 9970 761 762 17.847 60.173 763 434 46 764/9 3 316 Extraordinary charges... 66 Extraordinary depreciation of and extraordinary amounts written off formation expenses, intangible and tangible fixed assets... 660 Extraordinary amounts written down on positive consolidation differences... 9962 17.780 60.208 26 Amounts written down financial fixed assets... 661 Provisions for extraordinary liabilities and charges Appropriations (uses)... 662 Loss on disposal of fixed assets... 663 67 22 Other extraordinary charges... 4.14 664/8 17.713 60.160 Extraordinary charges carried to assets as restructuring costs... (-) 669 Profit (loss) for the period before taxes... 9903 70.374 63.467 Transfer from postponed taxes and latent taxation liabilities 780 10 11 Transfer to postponed taxes and latent taxation liabilities 680 12.251 6.492 Income taxes... 4.14 67/77 18.032 22.631 Income taxes... 670/3 18.456 22.631 Adjustment of income taxes and write-back of tax provisions... 77 424 Profit (loss) for the period... 9904 Share in the result of the companies accounted for using the equity method... 9975 Profits... 99751 Losses... 99651 40.101 86 106 20 34.355 78 130 52 Consolidated profit (loss)... 9976 40.187 34.433 Of which : Share of third parties... 99761 Share of the group... 99762 83 40.105 83 34.350 7/37

Nr. 0440.653.281 CONSO 4.1 LIST OF THE CONSOLIDATED SUBSIDIARY COMPANIES AND COMPANIES INCLUDED USING THE EQUITY METHOD NAME, full address of the REGISTERED OFFICE and for the enterprise governed by Belgian law, the COMPANY NUMBER Method used (F/P/E1/E2/E3/ E4) (1)(2) Proportion of capital held (3) (in %) Change of percentage of capital held (as compared to the previous period) (4) De Persgroep Publishing PLC Brusselsesteenweg 347 1730 Asse 0403.506.340 F 100,00 0,00 Eco Print Center PLC Brandstraat 30 9160 Lokeren 0869.559.963 F 100,00 0,00 Depefin PLC Brusselsesteenweg 347 1730 Asse 0457.495.154 F 100,00 0,00 Mediafin PLC Havenlaan 86c, box 309 1000 Brussel 1 0404.800.301 Data proving joint control: De oriëntatie van het beleid van deze dochteronderneming wordt gezamelijk bepaald door de (belangrijkste) aandeelhouders op basis van gelijk aandeelhoudersschap of enige aandeelhoudersovereenkomst. De Persgroep Nederland BV Jacob Bontiusplaats 9 1018 LL Amsterdam Holland 810828662B01 P F 50,00 0,00 58,50 0,00 (1) F. Full consolidation (2) P. Proportional consolidation (in the first column disclose data proving joint control) E1 Associated enterprise accounted for using the equity (article 134, 1st al.,3 of the Royal Decree of 30 january 2001 in implementation of Company Law) E2. method Subsidiary enterprise accounted for using the equity method over which the enterprise has a de facto control of which the inclusion in the consolidated. accounts would be incompatible with the principle of a true and fair view(article 108 jo. 110 of the aforementioned Royal Decree). E3. E4. Subsidiary enterprise accounted for using the equity method which is in liquidation, has decided to cease activities or can no longer be considered as carrying on the business (article 109 jo. 110 of the aforementioned Royal Decree) Joint subsidiary enterprise accounted for using the equity method where its activities cannot be closely integrated into the activities of the enterprise having th joint control (article 134, second al. of the aforementioned Royal Decree). If a change in the percentage of the proportion of capital held entails a change in the accounting method for inclusion in the consolidated accounts, the new method will be followed by an asterisk. (3) Proportion of capital of those enterprises being held by the enterprises included in the consolidated accounts and persons acting in their own names but on behal of these enterprises. (4) If the composition of the consolidated aggregate is characterized by a significant change of this percentage during this period, additional information is provided in section 4.5. (article 112 of the aforementioned Royal Decree). 8/37

Nr. 0440.653.281 CONSO 4.1 LIST OF THE CONSOLIDATED SUBSIDIARY COMPANIES AND COMPANIES INCLUDED USING THE EQUITY METHOD NAME, full address of the REGISTERED OFFICE and for the enterprise governed by Belgian law, the COMPANY NUMBER Method used (F/P/E1/E2/E3/ E4) (1)(2) Proportion of capital held (3) (in %) Change of percentage of capital held (as compared to the previous period) (4) Het Parool BV Jacob Bontiusplaats 9 1018 PL Amsterdam Holland 001631925B01 F 62,75 0,00 AD Nieuwsmedia BV Marten Meesweg 35 3068 AV Rotterdam Holland 006098319B01 F 58,50 0,00 De Persgroep Distributie BV Van de Madeweg 40 1099 BT Amsterdam Holland 001627893B01 F 58,50 0,00 De Persgroep Printing BV Van de Madeweg 40 1099 BT Amsterdam Holland 001662405B01 F 58,50 0,00 De Persgroep Printing Amsterdam BV Van de Madeweg 40 1099 BT Amsterdam Holland 803204085B01 F 58,50 0,00 (1) F. Full consolidation (2) P. Proportional consolidation (in the first column disclose data proving joint control) E1 Associated enterprise accounted for using the equity (article 134, 1st al.,3 of the Royal Decree of 30 january 2001 in implementation of Company Law) E2. method Subsidiary enterprise accounted for using the equity method over which the enterprise has a de facto control of which the inclusion in the consolidated. accounts would be incompatible with the principle of a true and fair view(article 108 jo. 110 of the aforementioned Royal Decree). E3. E4. Subsidiary enterprise accounted for using the equity method which is in liquidation, has decided to cease activities or can no longer be considered as carrying on the business (article 109 jo. 110 of the aforementioned Royal Decree) Joint subsidiary enterprise accounted for using the equity method where its activities cannot be closely integrated into the activities of the enterprise having th joint control (article 134, second al. of the aforementioned Royal Decree). If a change in the percentage of the proportion of capital held entails a change in the accounting method for inclusion in the consolidated accounts, the new method will be followed by an asterisk. (3) Proportion of capital of those enterprises being held by the enterprises included in the consolidated accounts and persons acting in their own names but on behal of these enterprises. (4) If the composition of the consolidated aggregate is characterized by a significant change of this percentage during this period, additional information is provided in section 4.5. (article 112 of the aforementioned Royal Decree). 9/37

Nr. 0440.653.281 CONSO 4.1 LIST OF THE CONSOLIDATED SUBSIDIARY COMPANIES AND COMPANIES INCLUDED USING THE EQUITY METHOD NAME, full address of the REGISTERED OFFICE and for the enterprise governed by Belgian law, the COMPANY NUMBER Method used (F/P/E1/E2/E3/ E4) (1)(2) Proportion of capital held (3) (in %) Change of percentage of capital held (as compared to the previous period) (4) De Persgroep Printing Den Haag BV Schelde 1 2491 BL Den Haag Holland 001632243B01 F 58,50 0,00 De Persgroep Printing Rotterdam BV Driemanssteenweg 15 3084 CA Rotterdam Holland 007131094B01 F 58,50 0,00 De Volkskrant BV Jacob Bontiusplaats 9 1018 LL Amsterdam Holland 001632267B01 F 58,50 0,00 Trouw BV jacob Bontiusplaats 9 1018 LL Amsterdam Holland 003239639B01 F 58,50 0,00 VK Banen BV Jacob Bontiusplaats 9 1018 LL Amsterdam Holland 804251757B01 F 58,50 0,00 (1) F. Full consolidation (2) P. Proportional consolidation (in the first column disclose data proving joint control) E1 Associated enterprise accounted for using the equity (article 134, 1st al.,3 of the Royal Decree of 30 january 2001 in implementation of Company Law) E2. method Subsidiary enterprise accounted for using the equity method over which the enterprise has a de facto control of which the inclusion in the consolidated. accounts would be incompatible with the principle of a true and fair view(article 108 jo. 110 of the aforementioned Royal Decree). E3. E4. Subsidiary enterprise accounted for using the equity method which is in liquidation, has decided to cease activities or can no longer be considered as carrying on the business (article 109 jo. 110 of the aforementioned Royal Decree) Joint subsidiary enterprise accounted for using the equity method where its activities cannot be closely integrated into the activities of the enterprise having th joint control (article 134, second al. of the aforementioned Royal Decree). If a change in the percentage of the proportion of capital held entails a change in the accounting method for inclusion in the consolidated accounts, the new method will be followed by an asterisk. (3) Proportion of capital of those enterprises being held by the enterprises included in the consolidated accounts and persons acting in their own names but on behal of these enterprises. (4) If the composition of the consolidated aggregate is characterized by a significant change of this percentage during this period, additional information is provided in section 4.5. (article 112 of the aforementioned Royal Decree). 10/37

Nr. 0440.653.281 CONSO 4.1 LIST OF THE CONSOLIDATED SUBSIDIARY COMPANIES AND COMPANIES INCLUDED USING THE EQUITY METHOD NAME, full address of the REGISTERED OFFICE and for the enterprise governed by Belgian law, the COMPANY NUMBER Method used (F/P/E1/E2/E3/ E4) (1)(2) Proportion of capital held (3) (in %) Change of percentage of capital held (as compared to the previous period) (4) Vlaamse Media Maatschappij PLC Medialaan 1 1800 Vilvoorde 0432.306.234 Data proving joint control: De oriëntatie van het beleid van deze dochteronderneming wordt gezamelijk bepaald door de (belangrijkste) aandeelhouders op basis van gelijk aandeelhoudersschap of enige aandeelhoudersovereenkomst. Q Music Nederland Paul Van Vlissingenstraat 10D 1096 BK Amsterdam Holland 007909305B01 P F 50,00 0,00 100,00 0,00 Joe FM PLC Medialaan 1 1800 Vilvoorde 0469.992.615 Data proving joint control: De oriëntatie van het beleid van deze dochteronderneming wordt gezamelijk bepaald door de (belangrijkste) aandeelhouders op basis van gelijk aandeelhoudersschap of enige aandeelhoudersovereenkomst. Antwerpse Televisie Maatschappij PLC Rijnkaai 104 2000 Antwerpen 0448.844.140 Data proving joint control: De oriëntatie van het beleid van deze dochteronderneming wordt gezamelijk bepaald door de (belangrijkste) aandeelhouders op basis van gelijk aandeelhoudersschap of enige aandeelhoudersovereenkomst. P P 50,00 0,00 50,00 0,00 (1) F. Full consolidation (2) P. Proportional consolidation (in the first column disclose data proving joint control) E1 Associated enterprise accounted for using the equity (article 134, 1st al.,3 of the Royal Decree of 30 january 2001 in implementation of Company Law) E2. method Subsidiary enterprise accounted for using the equity method over which the enterprise has a de facto control of which the inclusion in the consolidated. accounts would be incompatible with the principle of a true and fair view(article 108 jo. 110 of the aforementioned Royal Decree). E3. E4. Subsidiary enterprise accounted for using the equity method which is in liquidation, has decided to cease activities or can no longer be considered as carrying on the business (article 109 jo. 110 of the aforementioned Royal Decree) Joint subsidiary enterprise accounted for using the equity method where its activities cannot be closely integrated into the activities of the enterprise having th joint control (article 134, second al. of the aforementioned Royal Decree). If a change in the percentage of the proportion of capital held entails a change in the accounting method for inclusion in the consolidated accounts, the new method will be followed by an asterisk. (3) Proportion of capital of those enterprises being held by the enterprises included in the consolidated accounts and persons acting in their own names but on behal of these enterprises. (4) If the composition of the consolidated aggregate is characterized by a significant change of this percentage during this period, additional information is provided in section 4.5. (article 112 of the aforementioned Royal Decree). 11/37

Nr. 0440.653.281 CONSO 4.1 LIST OF THE CONSOLIDATED SUBSIDIARY COMPANIES AND COMPANIES INCLUDED USING THE EQUITY METHOD NAME, full address of the REGISTERED OFFICE and for the enterprise governed by Belgian law, the COMPANY NUMBER Method used (F/P/E1/E2/E3/ E4) (1)(2) Proportion of capital held (3) (in %) Change of percentage of capital held (as compared to the previous period) (4) Studio-A PLC Beringstraat 37 3190 Boortmeerbeek 0445.055.103 Data proving joint control: De oriëntatie van het beleid van deze dochteronderneming wordt gezamelijk bepaald door de (belangrijkste) aandeelhouders op basis van gelijk aandeelhoudersschap of enige aandeelhoudersovereenkomst. Paratel PLC Medialaan 1 1800 Vilvoorde 0452.588.043 Data proving joint control: De oriëntatie van het beleid van deze dochteronderneming wordt gezamelijk bepaald door de (belangrijkste) aandeelhouders op basis van gelijk aandeelhoudersschap of enige aandeelhoudersovereenkomst. Starway PLC Medialaan 1 1800 Vilvoorde 0810.255.054 Data proving joint control: De oriëntatie van het beleid van deze dochteronderneming wordt gezamelijk bepaald door de (belangrijkste) aandeelhouders op basis van gelijk aandeelhoudersschap of enige aandeelhoudersovereenkomst. Media Ad Infinitum PLC Medialaan 1 1800 Vilvoorde 0461.344.866 Data proving joint control: De oriëntatie van het beleid van deze dochteronderneming wordt gezamelijk bepaald door de (belangrijkste) aandeelhouders op basis van gelijk aandeelhoudersschap of enige aandeelhoudersovereenkomst. P P P P 50,00 0,00 50,00 0,00 50,00 0,00 50,00 50,00 (1) F. Full consolidation (2) P. Proportional consolidation (in the first column disclose data proving joint control) E1 Associated enterprise accounted for using the equity (article 134, 1st al.,3 of the Royal Decree of 30 january 2001 in implementation of Company Law) E2. method Subsidiary enterprise accounted for using the equity method over which the enterprise has a de facto control of which the inclusion in the consolidated. accounts would be incompatible with the principle of a true and fair view(article 108 jo. 110 of the aforementioned Royal Decree). E3. E4. Subsidiary enterprise accounted for using the equity method which is in liquidation, has decided to cease activities or can no longer be considered as carrying on the business (article 109 jo. 110 of the aforementioned Royal Decree) Joint subsidiary enterprise accounted for using the equity method where its activities cannot be closely integrated into the activities of the enterprise having th joint control (article 134, second al. of the aforementioned Royal Decree). If a change in the percentage of the proportion of capital held entails a change in the accounting method for inclusion in the consolidated accounts, the new method will be followed by an asterisk. (3) Proportion of capital of those enterprises being held by the enterprises included in the consolidated accounts and persons acting in their own names but on behal of these enterprises. (4) If the composition of the consolidated aggregate is characterized by a significant change of this percentage during this period, additional information is provided in section 4.5. (article 112 of the aforementioned Royal Decree). 12/37

Nr. 0440.653.281 CONSO 4.1 LIST OF THE CONSOLIDATED SUBSIDIARY COMPANIES AND COMPANIES INCLUDED USING THE EQUITY METHOD NAME, full address of the REGISTERED OFFICE and for the enterprise governed by Belgian law, the COMPANY NUMBER Method used (F/P/E1/E2/E3/ E4) (1)(2) Proportion of capital held (3) (in %) Change of percentage of capital held (as compared to the previous period) (4) Vacature CALL Havenlaan 86C, box 101 1000 Brussel 1 0457.366.183 Data proving joint control: De oriëntatie van het beleid van deze dochteronderneming wordt gezamelijk bepaald door de (belangrijkste) aandeelhouders op basis van gelijk aandeelhoudersschap of enige aandeelhoudersovereenkomst. Jobs & Careers CALL Koningstraat 100 1000 Brussel 1 0860.375.251 Data proving joint control: De oriëntatie van het beleid van deze dochteronderneming wordt gezamelijk bepaald door de (belangrijkste) aandeelhouders op basis van gelijk aandeelhoudersschap of enige aandeelhoudersovereenkomst. Via Fred PLC Koningstraat 100 1000 Brussel 1 0448.115.155 Data proving joint control: De oriëntatie van het beleid van deze dochteronderneming wordt gezamelijk bepaald door de (belangrijkste) aandeelhouders op basis van gelijk aandeelhoudersschap of enige aandeelhoudersovereenkomst. Regionale TV Media PLC Research Park - De Haak 1731 Zellik 0448.708.637 P P P E1 50,00 0,00 32,50 0,00 50,00 0,00 33,33 0,00 (1) F. Full consolidation (2) P. Proportional consolidation (in the first column disclose data proving joint control) E1 Associated enterprise accounted for using the equity (article 134, 1st al.,3 of the Royal Decree of 30 january 2001 in implementation of Company Law) E2. method Subsidiary enterprise accounted for using the equity method over which the enterprise has a de facto control of which the inclusion in the consolidated. accounts would be incompatible with the principle of a true and fair view(article 108 jo. 110 of the aforementioned Royal Decree). E3. E4. Subsidiary enterprise accounted for using the equity method which is in liquidation, has decided to cease activities or can no longer be considered as carrying on the business (article 109 jo. 110 of the aforementioned Royal Decree) Joint subsidiary enterprise accounted for using the equity method where its activities cannot be closely integrated into the activities of the enterprise having th joint control (article 134, second al. of the aforementioned Royal Decree). If a change in the percentage of the proportion of capital held entails a change in the accounting method for inclusion in the consolidated accounts, the new method will be followed by an asterisk. (3) Proportion of capital of those enterprises being held by the enterprises included in the consolidated accounts and persons acting in their own names but on behal of these enterprises. (4) If the composition of the consolidated aggregate is characterized by a significant change of this percentage during this period, additional information is provided in section 4.5. (article 112 of the aforementioned Royal Decree). 13/37

Nr. 0440.653.281 CONSO 4.1 LIST OF THE CONSOLIDATED SUBSIDIARY COMPANIES AND COMPANIES INCLUDED USING THE EQUITY METHOD NAME, full address of the REGISTERED OFFICE and for the enterprise governed by Belgian law, the COMPANY NUMBER Method used (F/P/E1/E2/E3/ E4) (1)(2) Proportion of capital held (3) (in %) Change of percentage of capital held (as compared to the previous period) (4) Reprocopy CALL Paepsemlaan 22, box 7 1070 Brussel 7 0470.162.265 E1 35,71 0,00 Mediargus PLC Pelletierstraat 8 1030 Brussel 3 0466.787.259 E1 35,71 0,00 Vlaamse Dagbladpers CALL Paepsemlaan 22, box 7 1070 Brussel 7 0465.907.925 E1 31,25 0,00 Holding Echos PLC P* havenlaan 86c, box 309 1000 Brussel 1 0841.536.564 Data proving joint control: De oriëntatie van het beleid van deze dochteronderneming wordt gezamelijk bepaald door de (belangrijkste) aandeelhouders op basis van gelijk aandeelhoudersschap of enige aandeelhoudersovereenkomst. 25,00 25,00 (1) F. Full consolidation (2) P. Proportional consolidation (in the first column disclose data proving joint control) E1 Associated enterprise accounted for using the equity (article 134, 1st al.,3 of the Royal Decree of 30 january 2001 in implementation of Company Law) E2. method Subsidiary enterprise accounted for using the equity method over which the enterprise has a de facto control of which the inclusion in the consolidated. accounts would be incompatible with the principle of a true and fair view(article 108 jo. 110 of the aforementioned Royal Decree). E3. E4. Subsidiary enterprise accounted for using the equity method which is in liquidation, has decided to cease activities or can no longer be considered as carrying on the business (article 109 jo. 110 of the aforementioned Royal Decree) Joint subsidiary enterprise accounted for using the equity method where its activities cannot be closely integrated into the activities of the enterprise having th joint control (article 134, second al. of the aforementioned Royal Decree). If a change in the percentage of the proportion of capital held entails a change in the accounting method for inclusion in the consolidated accounts, the new method will be followed by an asterisk. (3) Proportion of capital of those enterprises being held by the enterprises included in the consolidated accounts and persons acting in their own names but on behal of these enterprises. (4) If the composition of the consolidated aggregate is characterized by a significant change of this percentage during this period, additional information is provided in section 4.5. (article 112 of the aforementioned Royal Decree). 14/37

Nr. 0440.653.281 CONSO 4.2 LIST OF SUBSIDIARY COMPANIES EXCLUSIVELY OR JOINTLY CONTROLLED NOT INCLUDED (pursuant to article 107 of the Royal Decree of 30 january 2001 in implementation of Company Law) AND ASSOCIATED ENTERPRISES ACCOUNTED FOR USING THE EQUITY METHOD (in implementation of article 157 of the aforementioned Royal Decree). NAME, full address of REGISTERED OFFICE and for enterprises governed by Belgian law, the COMPANY NUMBER Reason for exclusion (A, B, C, D or E)(1) Share in the capital (2) (in %) Change in percentage of capital held (as compared to the previous period) (3) Algemeen Dagblad Carribean BV... Netherlands Antilles A 58,50 0,00 Adventure Holding BV Hogehilweg 6 1101 CC Amsterdam Holland A 19,49 0,00 (1) Reason for exclusion : (2) A. Subsidiary company of minor importance B. Serious long-term restrictions that substantially hinder the effective exercising of the power of control over the subsidiary company by the latter of or the use of its assets C. Information necessary for inclusion in the consolidated accounts cannot be obtained without disproportionate expense or undue delay D. Shares in the subsidiary company are held exclusively with a view of subsequent resale E. Associated company whose inclusion of the equity method is not material for the purpose of providing a true and fair view In case of mandatory or facultative exclusion in the consolidation scope detailed information shall be provided in section 4.5. Proportion of capital of those enterprises being held by both enterprises included in the consolidated accounts and persons acting in their own names but on behalf of these enterprises. (3) If the composition of the consolidated aggregate is characterized by a significant change of this percentage during this period, additional information are provided in section 4.5. (article 112 of the aforementioned Royal Decree). 15/37

Nr. 0440.653.281 CONSO 4.5 CONSOLIDATION CRITERIA AND CHANGES IN THE CONSOLIDATION SCOPE Information and the criteria governing the application of full consolidation, proportional consolidation and the equity method as well as those cases in which these criteria are departed from, and justification for such departures (Pursuant to Article 165, I. of the Royal Decree of 30 january 2001 in implementation of Company Law). Geldt voor de moedermaatschappij en haar dochterondernemingen waarover zij de exclusieve controle bezit, d.w.z. de controle die zij alleen of met een van haar dochterondernemingen uitoefent t.o.v. de betrokken onderneming. Deze controle vloeit voort uit : - het bezit van de meerderheid van de stemrechten verbonden aan de aandelen van een onderneming; - het recht de meerderheid van de bestuurders of zaakvoerders te benoemen of te ontslaan; - het beschikken krachtens de statuten van de betrokken onderneming of krachtens hiermee gesloten overeenkomsten over een controlebevoegdheid; - het beschikken over de meerderheid van de stemrechten verbonden aan het totaal van de aandelen van een onderneming op grond van een overeenkomst met andere vennoten van de betreffende onderneming. Geldt ten aanzien van geassocieerde ondernemingen, d.i. elke andere onderneming dan een dochterof een gemeenschappelijke dochteronderneming waarin een in de consolidatie opgenomen onderneming een deelneming bezit en waarin zij een invloed van betekenis uitoefent op de oriëntatie van het beleid (Deelneming van 20%). Information which makes a comparison meaningfull with the consolidated annual accounts of the previous financial period in case the composition of the consolidated aggregate in the course of the current financial period has changed significantly (Pursuant to Article 112 of aforementioned Royal Decree). De Persgroep NV heeft op 9 juli 2009 een meerderheidsbelang verworven in PcM Holding BV (thans de Persgroep Nederland BV) : middels het onderschrijven van een kapitaalverhoging van EUR 130 miljoen verwierf De Persgroep 58,5 % van PcM's aandelenkapitaal, terwijl de bestaande aandelen - toebehorende aan drie Stichtingen - omgezet werden in preferent aandelenkapitaal met een nominale waarde van EUR 92,2 miljoen. Hierop is de Persgroep Nederland een preferent dividend van 4,5 % verschuldigd, zij het pas vanaf boekjaar 2014 en slechts voor zover in het betrokken boekjaar voldoende winst werd geboekt. Op deze preferente aandelen beschikken de Stichtingen over een verkooprecht jegens de Persgroep Nederland, uitoefenbaar vanaf 1 januari 2014 aan de nominale waarde, doch slechts voor zover en in de mate dat er winst is gereserveerd in de 'Reserve Inkoop Preferente aandelen'. Aan deze reserve worden de winsten van de Persgroep Nederland van de boekjaren 2010 tot 2013 voor de volle 100 % toegewezen, en vervolgens ten belope van 50 %, en dit totdat het nominaal bedrag van het preferent aandelenkapitaal, zijnde EUR 92,2 miljoen, bereikt zal zijn. Per 31 december 2011 bedraagt de reserve 2.9 miljoen. De Persgroep Nederland beschikt op zijn beurt over een aankooprecht op ong. 70 % van de preferente aandelen, tevens uitoefenbaar vanaf 1 januari 2014 aan nominale waarde. In 2009 is er, conform artikel 29 van het KB van 30.1.2001, omwille van het getrouw beeld geoordeeld dat voormelde acquisitie het best werd verwerkt in de consolidatie naar analogie met IFRS 3R volgens de 'full goodwill' methode. Dit gaf aanleiding tot een voorlopige goodwill allocatie van EUR 235,9 miljoen en minderheidsbelangen van EUR 92,2 miljoen. Tijdens het boekjaar 2010 is er overgegaan tot de finale bepaling van de acquisitiegoodwill door rekening te houden (i) met de definitieve vastlegging van de belangen van derden als een 'de facto' rentedragende schuld, (ii) met een aangepaste inschatting van de actieve belastinglatenties en (iii) met een exacte bepaling van de pre-acquisitieresultaten op basis van afloopcontrole op voorzieningen en (iv) met de definitief gerealiseerde resultaten op de verkoop van NRC Media en PcM Algemene Uitgeverijen. Deze definitieve toewijzingen leidden tot een goodwill per 1 juli 2009 van EUR 215,5 miljoen en een belang van derden aan actuele waarde van EUR 80,8 miljoen per 31 december 2010. Inderdaad, gelet op de restricties verbonden aan de opeisbaarheid van het preferent aandelenkapitaal, wordt deze 'de facto' schuld verder getoond onder 'Belangen van derden', zij het aan contante waarde met een actualisatievoet van 4,5 %. Het belang van derden evolueert als volgt door oprenting : EUR 84,5 miljoen per 31 december 2011, EUR 88,3 miljoen per 31 december 2012 en EUR 92,2 miljoen per 31 december 2013. De oprenting wordt getoond onder de financiële kosten. De belangen van derden zullen derhalve niet meer in plus of min evolueren met de resultaten van de Persgroep Nederland BV. Bij de finale bepaling van de goodwill is besloten om de geschatte levensduur ervan te brengen van 20 jaar op 10 jaar gezien het snel evoluerende medialandschap. Ultimo 2011 dient de goodwill op de acquisitie van de Persgroep Nederland dus nog over 7,5 jaar te worden afgeschreven. 16/37

Nr. 0440.653.281 CONSO 4.6 SUMMARY OF VALUATION RULES AND METHODS OF CALCULATING OF DEFERRED TAXES Disclosure of the criteria governing the valuation of the various items in the consolidated annual accounts, and in particular : the application and adjustments of depreciation, amounts written down and provisions for liabilities and charges, and revaluations (pursuant to article 165, VI.a. of the Royal Decree of 30 january 2001 in implementation of Company Law) the bases of translation applied to express in the consolidated accounts items which are, or originally were, expressed in a currency other than the currency in which the consolidated accounts are stated, and the translation in the consolidated accounts of the accounting statements of subsidiaries and associated enterprises governed by foreign law (pursuant to Article 165, VI.b. of the aforementioned Royal Decree) A. Aktief 1. Oprichtingskosten De oprichtingskosten worden geactiveerd en voor 100 % ten laste van het bedrijfsresultaat genomen in het boekjaar waarin ze werden besteed. Herstructureringskosten worden alleen dan onder de activa opgenomen, wanneer het gaat om welbepaalde kosten die verband houden met een ingrijpende wijziging in de structuur of de organisatie van de ondernemingen en wanneer die kosten ertoe strekken een gunstige en duurzame invloed te hebben op de rendabiliteit van de ondernemingen. Zij worden lineair afgeschreven over een periode van 5 jaar. 2. Immateriële vaste activa De immateriële vaste activa worden gewaardeerd tegen hun aanschaffingswaarde. Titels worden niet gewaardeerd, tenzij bij aankoop van derden. De kosten van onderzoek en ontwikkeling en de intra-groep aangekochte goodwill worden volledig ten laste van het bedrijfsresultaat genomen. Goodwill kan enkel gehandhaafd worden op de balans indien er een return voorzien is op de onderliggende activiteiten. Afschrijving : 5-20 jaar Software wordt lineair afgeschreven over 3 jaar. 3. Consolidatieverschillen De consolidatiegoodwill bestaat enerzijds uit de positieve verschillen ontstaan bij de toepassing van de integrale consolidatiemethode en anderzijds uit de positieve verschillen na toepassing van de vermogensmutatiemethode. De positieve consolidatieverschillen worden lineair afgeschreven over een periode van 5, 10 of 20 jaar afhankelijk van de sector waarin de deelneming zich situeert. 4. Materiele vaste activa De materiele vaste activa worden gewaardeerd tegen hun aanschaffingswaarde, dit is de inkoopprijs inbegrepen bijkomende kosten), hun kostprijs of hun inbrengwaarde. Volgende afschrijvingsperiodes worden toegepast : - Terreinen : op terreinen wordt niet afgeschreven - Gebouwen : 10-50 jaar, - Vruchtgebruik : lineair over de looptijd van de desbetreffende overeenkomst. - Installaties machines en uitrusting : 4-15 jaar - Andere bedrijfsmiddelen 2-10 jaar - Vooruitbetalingen op vaste activa en activa in aanbouw : Hogervermelde afschrijvingsmethodes en -percentages worden toegepast naargelang de aard van de desbetreffende activa. 5. Financiële vaste activa Niet geconsolideerde deelnemingen worden gewaardeerd tegen de aanschaffingsprijs of aan een verminderde waarde wanneer de toestand van deze ondernemingen deze waardevermindering noodzakelijk maakt. Vorderingen en borgtochten worden geboekt aan nominale waarde. Waardeverminderingen worden toegepast in geval van onzekerheid over de gehele of gedeeltelijke terugbetaling. 6. Voorraden Grondstoffen en hulpstoffen, worden gewaardeerd op basis van de gewogen gemiddelde kostprijs. Handelsgoederen worden gewaardeerd tegen de aanschaffingsprijs of de vervaardigingsprijs. Indien de realisatiewaarde op balansdatum lager is, wordt een waardevermindering geboekt. De niet uitgezonden uitzendrechten van films en andere producties worden in de balans opgenomen onder "voorraden" tegen hun aanschaffingswaarde. 7. Vorderingen Vorderingen worden in de balans opgenomen voor hun nominale waarde. Er worden waardeverminderingen toegepast zo er voor het geheel of een gedeelte van een vordering onzekerheid bestaat over de betaling hiervan op de vervaldag. 17/37

Nr. 0440.653.281 CONSO 4.6 SUMMARY OF VALUATION RULES AND METHODS OF CALCULATING OF DEFERRED TAXES Vorderingen in vreemde deviezen worden omgerekend naar Euro aan de koers geldig op balansdatum. 8. Geldbeleggingen Geldbeleggingen worden geboekt aan nominale waarde. De rekeningen in vreemde deviezen worden omgerekend naar Euro aan de koers geldig op balansdatum. 9. Liquide middelen De beschikbare waarden worden gewaardeerd tegen nominale waarde. De rekeningen in vreemde deviezen worden omgerekend naar Euro aan de koers geldig op balansdatum. B. Passief 1. Kapitaalsubsidies De kapitaalsubsidies worden in de balans opgenomen voor hun nominale waarde bij de toekenning voor de bevoegde instantie. Zij worden geleidelijk in het resultaat opgenomen als financiële opbrengst volgens hetzelfde ritme als de afschrijvingen op de materiele vaste activa waarop ze betrekking hebben. 2. Schulden De schulden worden in de balans opgenomen voor hun nominale waarde. Schulden in vreemde deviezen worden omgerekend naar Euro aan de koers geldig op balansdatum. 3. Kosten voor klein en groot onderhoud en herstellingen. De kosten voor klein onderhoud en herstellingen worden geboekt in het boekjaar waarin ze worden uitgevoerd. Jaarlijks wordt een voorziening gevormd ten laste van de bedrijfsresultaat met het oog op grote herstellings- en onderhoudswerken. 4. Pensioenverplichtingen Pensioenverplichtingen worden voorzien op basis van een actuariele berekening conform de 'projected unit of credit method'. Met betrekking tot de 'defined benefit' plannen die in voege zijn bij de Nederlandse dochterondernemingen en die ondergebracht zijn bij sectorpensioenfondsen, wordt geen netto verplichting berekend. Dit is in overeenstemming met de Nederlandse richtlijnen (RJ271) en IAS 19 inzake sectorpensioenfondsen. Deze plannen worden boekhoudkundig als 'defined contribution' plannen verwerkt. 5. Negatieve consolidatieverschillen Negatieve consolidatieverschillen worden opgenomen op de daarvoor voorziene post in het eigen vermogen Dit consolidatieverschil wordt a rato van de verliezen in resultaat genomen wanneer deze oorspronkelijk geboekt werden ten gevolge van verwachte ongunstige resultaten van de betrokken dochteronderneming. De in resultaatname wordt geboekt in min van de afschrijvingen op de positieve consolidatieverschil Future taxation and deferred taxes Codes Period Analysis of Heading 168 of the liabilities... 168 5.765 Future taxation (Pursuant to article 76 of the Royal Decree of 30 january 2001 in implementation of Company Law)... 1681 113 Deferred taxes (Pursuant to article 129 of aforementioned Royal Decree)... 1682 5.652 Detailed explanation on the methods applied in determining deferred taxes (deferral method, liability method,...) In overeenstemming met artikel 129 van het kb van 30 januari 2001 worden passieve belastingslatenties enkel geboekt wanneer hieruit binnen afzienbare toekomst kosten zullen voortvloeien. Actieve belastingslatenties worden enkel erkend en geboekt in het kader van toewijzing van acquisitiegoodwill. 18/37

Nr. 0440.653.281 CONSO 4.8.2 Codes Period Previous period CONCESSIONS, PATENTS, LICENCES, KNOWHOW, BRANDS AND SIMILAR RIGHTS Acquisition value at the end of the period... 8052P Acquisitions, including produced fixed assets... 8022 Sales and disposals... 8032 Transfers from one heading to another... 8042 Translation differences... 99812 Other movements... 99822 Acquisition value at the end of the period... 8052 4.726 31.074 31.721 58.069 Depreciation and amounts written down at the end of the period... 8122P 46.746 Recorded... 8072 Written back... 8082 Acquisitions from third parties... 8092 Cancelled... 8102 Transfers from one heading to another... 8112 Translation differences... 99832 Other movements... 99842 7.871 31.036 Depreciation and amounts written down at the end of the period... NET BOOK VALUE AT THE END OF THE PERIOD... 8122 211 23.581 8.140 19/37

Nr. 0440.653.281 CONSO 4.8.3 Codes Period Previous period GOODWILL Acquisition value at the end of the period... 8053P 1.405 Acquisitions, including produced fixed assets... 8023 Sales and disposals... 8033 Transfers from one heading to another... 8043 Translation differences... 99813 Other movements... 99823 Acquisition value at the end of the period... 8053 1.405 Depreciation and amounts written down at the end of the period... 8123P 897 Recorded... 8073 10 Written back... 8083 Acquisitions from third parties... 8093 Cancelled... 8103 Transfers from one heading to another... 8113 Translation differences... 99833 Other movements... 99843 Depreciation and amounts written down at the end of the period... 8123 907 NET BOOK VALUE AT THE END OF THE PERIOD... 212 498 20/37

Nr. 0440.653.281 CONSO 4.9.1 STATEMENT OF TANGIBLE FIXED ASSETS Codes Period Previous period LAND AND BUILDINGS Acquisition value at the end of the period... 8191P 207.617 Acquisitions, including produced fixed assets... 8161 Sales and disposals... 8171 Transfers from one heading to another... 8181 Translation differences... 99851 Other movements... 99861 3.503 36-1.772 Acquisition value at the end of the period... 8191 209.312 Revaluation surpluses at the end of the period... 8251P 800 Recorded... 8211 Acquisitions from third parties... 8221 Cancelled... 8231 Transfers from one heading to another... 8241 Translation differences... 99871 Other movements... 99881 Revaluation surpluses at the end of the period... 8251 800 Depreciation and amounts written down at the end of the period... 8321P 97.609 Recorded... 8271 6.032 Written back... 8281 Acquisitions from third parties... 8291 Cancelled... 8301 11 Transfers from one heading to another... 8311-2.047 Translation differences... 99891 Other movements... 99901 Depreciation and amounts written down at the end of the period... 8321 101.583 NET BOOK VALUE AT THE END OF THE PERIOD... (22) 108.529 21/37

Nr. 0440.653.281 CONSO 4.9.2 Codes Period Previous period PLANT, MACHINERY AND EQUIPMENT Acquisition value at the end of the period... 8192P 252.281 Acquisitions, including produced fixed assets... 8162 8.171 Sales and disposals... 8172 12.779 Transfers from one heading to another... (-)/(+) 8182 788 Translation differences... (-)/(+) 99852 Other movements... (-)/(+) 99862 Acquisition value at the end of the period... 8192 248.461 Revaluation surpluses at the end of the period... 8252P 504 Recorded... 8212 Acquisitions from third parties... 8222 Cancelled... 8232 Transfers from one heading to another... (-)/(+) 8242 Translation differences... (-)/(+) 99872 Other movements... (-)/(+) 99882 Revaluation surpluses at the end of the period... 8252 504 Depreciation and amounts written down at the end of the period... 8322P 185.843 Recorded... 8272 12.886 Written back... 8282 Acquisitions from third parties... 8292 Cancelled... 8302 12.777 Transfers from one heading to another... (-)/(+) 8312 1.814 Translation differences... (-)/(+) 99892 Other movements... (-)/(+) 99902-3 Depreciation and amounts written down at the end of the period... 8322 187.763 NET BOOK VALUE AT THE END OF THE PERIOD... (23) 61.202 22/37

Nr. 0440.653.281 CONSO 4.9.3 Codes Period Previous period FURNITURE AND VEHICLES Acquisition value at the end of the period... 8193P 47.611 Acquisitions, including produced fixed assets... 8163 5.409 Sales and disposals... 8173 1.225 Transfers from one heading to another... (-)/(+) 8183-848 Translation differences... (-)/(+) 99853 Other movements... (-)/(+) 99863 Acquisition value at the end of the period... 8193 50.947 Revaluation surpluses at the end of the period... 8253P 47 Recorded... 8213 Acquisitions from third parties... 8223 Cancelled... 8233 Transfers from one heading to another... (-)/(+) 8243 Translation differences... (-)/(+) 99873 Other movements... (-)/(+) 99883 Revaluation surpluses at the end of the period... 8253 47 Depreciation and amounts written down at the end of the period... 8323P 37.176 Recorded... 8273 6.775 Written back... 8283 Acquisitions from third parties... 8293 Cancelled... 8303 1.212 Transfers from one heading to another... (-)/(+) 8313-1.644 Translation differences... (-)/(+) 99893 Other movements... (-)/(+) 99903 Depreciation and amounts written down at the end of the period... 8323 41.095 NET BOOK VALUE AT THE END OF THE PERIOD... (24) 9.899 23/37

Nr. 0440.653.281 CONSO 4.9.4 Codes Period Previous period LEASING AND SIMILAR RIGHTS Acquisition value at the end of the period... 8194P 1.596 Acquisitions, including produced fixed assets... 8164 Sales and disposals... 8174 Transfers from one heading to another... 8184 Translation differences... 99854 Other movements... 99864 Acquisition value at the end of the period... 8194 1.596 Revaluation surpluses at the end of the period... 8254P Recorded... 8214 Acquisitions from third parties... 8224 Cancelled... 8234 Transfers from one heading to another... 8244 Translation differences... 99874 Other movements... 99884 Revaluation surpluses at the end of the period... 8254 Depreciation and amounts written down at the end of the period... 8324P 1.144 Recorded... 8274 131 Written back... 8284 Acquisitions from third parties... 8294 Cancelled... 8304 Transfers from one heading to another... 8314 Translation differences... 99894 Other movements... 99904 Depreciation and amounts written down at the end of the period... 8324 1.275 NET BOOK VALUE AT THE END OF THE PERIOD... (25) 321 OF WICH : Land and buildings... 250 Plant, machinery and equipment... 251 321 Furniture and vehicles... 252 24/37