Share

Stock exchange listing

BAM has been listed on Euronext Amsterdam since 1959 (symbol: BAMNB; ISIN code: NL0000337319). The share is included in the Amsterdam Midcap Index (AMX) and the Euronext NEXT-150 Index. Options are traded by Liffe, the Euronext derivatives exchange. The market capitalisation was €1.1 billion at year-end 2017 (year-end 2016: €1.2 billion).

Investor relation policy

The purpose of the investor relations policy is to provide accurate, transparent, consistent, simultaneously and timely information to stakeholders, which include existing and potential shareholders, financial institutions, brokers and the media. BAM wants to ensure a clear understanding about its the strategy, performance and decisions to create awareness and confidence. Information is made available through the annual integrated report, quarterly (financial) information, press releases and presentations to investors which are all available on the website. BAM publishes price sensitive information without delay by a press release and on its site.

BAM publishes quarterly (financial) information. The full year and half year results are presented at analyst meetings. The trading updates for the first quarter and the nine months are presented during conference calls. These events are held in the English language and can be followed live or on demand on the website. BAM organises road shows and participates at investor conferences to meet existing and potential investors. All data and venues are published on the website.

BAM observes a closed period in which no meetings with existing or potential investors take place. For the annual results, this period extends from 1 January up to date of publication. For the half year results the closed period extends from 1 July up to the day of publication. For the trading updates after the first quarter and the nine months, it extends from 1 April and 1 October, up to the day of publication.

BAM is covered by analysts of all major Dutch brokers, they are key in distributing information to support the investment case to their clients. Research reports about BAM are available through these brokers. Contact details are available on the website.

All the activities comply with the rules and regulations of Euronext Amsterdam and the Dutch Authority for financial markets (AFM).

For more information about investor relations www.bam.com under the link Investor relations or contact Investor Relations Manager Joost van Galen, e-mail ir@bam.com, telephone +31 (0)30 659 87 07.

Share price

The 2017 closing price of the ordinary share was €3.83, which was 13 per cent below the closing price at year-end 2016 (€4.39). The AMX index ended the year 21 per cent higher. BAM’s share price rose by about 19 per cent over the last five years. By way of comparison, the AEX and the AMX index rose by 59 per cent and 56 per cent in the same period.

> Graph 22 shows the history of the BAM ordinary share price over the past five years.

Graph 22 shows the history of the BAM ordinary share price over the past five years.

Trading volume on Euronext Amsterdam

In 2017, the number of ordinary shares traded were 491 million (2016: 441 million).

The average daily trade was 1,926,000 ordinary shares (2016: 1,717,000). The value of ordinary shares traded in 2017 was €2,311 million (2016: €1,804 million). In 2017 the average daily trade in BAM shares was €9.0 million (2016: €7.0 million).

If necessary, ING and Rabobank act as liquidity providers for the trade in ordinary shares.

> Graph 23 shows the development of the average number of ordinary shares traded in 2017 on Euronext Amsterdam.

Graph 23 shows the development of the average number of ordinary shares traded in 2017 on Euronext Amsterdam.

> Graph 24 shows the development of the average value of traded ordinary shares on Euronext Amsterdam in 2017.

Graph 24 shows the development of the average value of traded ordinary shares on Euronext Amsterdam in 2017.

The movement in the number of outstanding shares

2017

2016

Outstanding ordinary shares as at 1 January

271,814,728

270,998,957

Shares issued for stock dividend

3,110,691

815,771

Outstanding ordinary shares as at 31 December

274,925,419

271,814,728

Treasury shares held for Performance Share Plan

(1,712,085)

(1,193,145)

Ordinary shares ranking for dividend as at 31 December

273,213,334

270,621,583

Percentage ordinary shares ranking for dividend

99.4%

99.6%