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 were effected at market rates.

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	(1,712)	-	27
2021	(1,428)	116	-

Acquisitions of completed investment property
2022	22,929	-	-
2021	27,705	-	-

The AL&C Fund management fee has been paid to the Fund Manager, Amvest REIM B.V.

All transactions with related parties were made on terms equivalent to those that prevail in arm’s length transactions.

Transactions with direct stakeholders

Neither the Investors of the AL&C Fund nor their Investors or regulators had any personal interest in investments by the AL&C Fund in 2022. As far as the AL&C 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 AL&C Fund, other than as mentioned in the aforementioned paragraph ‘Transactions with related parties’.

Off-balance sheet commitments & pipeline

As at 31 December 2022, the AL&C Fund has commitments with respect to new investment property that originate from a signed SPA (Sale and Purchase Agreement). The total amount with respect to these commitments for 2022 onwards adds up to EUR 222.9 million, which had not been charged by 31 December 2022 (and the work had not been performed).

Off-balance sheet rights

As at 31 December 2022, the AL&C Fund’s remaining commitments from Investors for 2022 onwards add up to EUR 378.8 million.

Auditor’s fees

	KPMG Accountants N.V.	KPMG Advisory N.V.	Total
EUR x 1,000	2022	2022	2022
Statutory audit of annual accounts	(86)	-	(86)
Other assurance services	(36)	-	(36)
Tax advisory services	-	-	-
Other non-audit services	-	-	-
	(122)	-	(122)


	KPMG Accountants N.V.	KPMG Advisory N.V.	Total
EUR x 1,000	2021	2021	2021
Statutory audit of annual accounts	(79)	-	(79)
Other assurance services	(30)	-	(30)
Tax advisory services	-	-	-
Other non-audit services	-	-	-
	(109)	-	(109)

With reference to Section 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. to the AL&C Fund.

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 and Portfolio Manager

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

Susan van de Koppel-Nagelmaeker, Portfolio Manager