1 Reporting entity

The Amvest Living & Care Fund (AL&C Fund) is a fund for joint account, established under the laws of the Netherlands. The address of the AL&C Fund’s office is Zeeburgerkade 1184, 1019 VK, Amsterdam. The AL&C Fund is a healthcare investment fund (beleggingsfonds) as referred to in art. 1:1 of the Dutch Financial Supervision A which specialises in healthcare residences located in the Netherlands.

Participations in the AL&C Fund are equally held by AEGON Levensverzekering N.V. and Stichting Pensioenfonds Zorg & Welzijn (50%).

As of 23 January 2017, the AL&C Fund is under supervision of the Authority on Financial Markets and managed by the Fund Manager. The Fund Manager has no employees. All employees working for the Fund Manager are employed by Amvest Management B.V., the Fund Services Provider of the AL&C Fund.

The AL&C Fund is a mutual Fund for the joint account of the participantions (FGR) and is not a legal entity under the laws of the Netherlands. As the AL&C Fund is not a legal entity, the AL&C Fund appointed a custodian (LCF Custodian B.V.). The custodian is the legal owner of the property of the AL&C Fund, while the AL&C Fund is the beneficial owner and therefore recognizes the investment property in the consolidated statement of financial position. These financial statements represent the consolidated financial information of the Fund and the companies it economically controls (collectively, the AL&C Fund).

Management considered whether the AL&C Fund represents a reporting entity. Although there is no legal parent company, management believes that the AL&C Fund including economically controlled companies meets the definition of a reporting entity under IFRS, taking into account the revised conceptual framework issued by the IASB on 29 March 2018.

The conceptual framework states that if a reporting entity is not a legal entity, the boundary of the reporting entity needs to be set in such a way that the financial statements (a) provide the relevant financial information needed by the existing and potential investors, lenders and other creditors who rely on the financial statements, and (b) faithfully represent the economic activities of the entity.

The AL&C Fund represents a defined area of economic activities whose financial information provides relevant information to users of financial statements.

As a result, management believes that this basis of preparation results in a true and fair presentation of the AL&C Fund’s financial position, financial performance and cash flows, and that the financial statements comply in all material aspects with International Financial Reporting Standards as endorsed by the European Union and Part 9 of Book 2 of the Dutch Civil Code and the Dutch Financial Supervision Act (Wft, s. 4:85).

The financial statements were authorised for issue by the Fund Manager on 16 April 2025.