Additional notes

Transactions with related parties

The following table provides the details of transactions that have been entered into with related parties for the relevant financial years. All transactions with related parties were made on terms equivalent to those that prevail in arm’s length transactions.

RELATED PARTY TRANSACTIONS

EUR x 1,000	Amount of transaction	Amounts due from related parties at year-end	Amounts due to related parties at year-end
Fund management fee
2022	(12,383)	-	195
2021	(11,450)	-	184

Other receivables and interest
2022	-	-	-
2021	-	-	-

Acquisitions of completed investment property
2022	-	-	-
2021	-	-	-

Prepayments on assets under construction
2022	92,001	-	-
2021	74,840	-	-

Fund Management fee

TThe ARC Fund’s management fee has been paid to the Fund Manager, Amvest REIM B.V.

Transactions with direct stakeholders

The Investors of the ARC Fund and/or their shareholders or regulators did not have any personal interest in investments by the ARC Fund in 2022. As far as the ARC Fund is aware, no property transactions took place during the year under review with persons and/or organisations that can be regarded as direct stakeholders of the ARC Fund, other than as mentioned in the paragraph “Transactions with related parties”.

Off-balance sheet commitments

As at 31 December 2022, the ARC Fund has obligations with respect to new investment property. The total amount with respect to these obligations for 2022 onwards adds up to EUR 496 million.

Off-balance sheet rights

In 2022, the ARC Fund has received 3 subscription forms (2021: 0 forms). The total amount of off balance sheet rights for 2022 amounts to EUR 120 million relating to existing commitments (2021: EUR 150 million).

Auditor’s fee

With reference to Articles 2:382a (1) and (2) of the Dutch Civil Code, the following fees for the financial year as well as the previous year have been charged by KPMG Accountants N.V. and PwC to the ARC Fund.

Auditor’s fee

	KPMG Accountants N.V.	KPMG Advisory N.V.	Total
EUR x 1,000	2022	2022	2022
Statutory audit of annual accounts	(224)	-	(224)
Other assurance services	(36)	-	(36)
Tax advisory services	-	-	-
Other non-audit services	-	-	-
	(260)	-	(260)


	KPMG Accountants N.V.	KPMG Advisory N.V.	Total
EUR x 1,000	2021	2021	2021
Statutory audit of annual accounts	(185)	-	(185)
Other assurance services	(53)	-	(53)
Tax advisory services	-	-	-
Other non-audit services	-	-	-
	(238)	-	(238)

Subsequent events

There were no significant subsequent events at the reporting date that require reporting.

Amsterdam, the Netherlands, 24 April 2023

H-W. Wensing, Fund Director

G.N. von der Thüsen, Director Finance and Risk

D. Wedding, Portfolio Manager