- - - Inhoudsopgave Voorwoord Bestuursverslag Corporate governance Consolidated Financial Statements Company Financial Statements Pillar 3 in millions of euros 2016 2015 Movements were as follows: Balance on 1 January 641 463 From other reserves to legal reserves (168) 160 Exchange rate differences 279 18 Balance on 31 December 752 641 in millions of euros 2016 2015 Movements in retained earnings: Balance on 1 January (3,304) (3,039) Changes due to legal merger 26,761 Adjustment opening balance2 (62) Profit for previous financial year 908 1,352 Distribution to third parties (1,230) (1,189) Dividends to local Rabobanks - (265) Transferred to legal reserves 168 (160) Transferred to revaluation reserves 319 (8) Redemption of Capital Securities (316) Other changes (44) 5 Balance on 31 December 23,200 (3,304) 1 Created in accordance with IAS 19.122 2 Opening balance 2016 adjusted due to early adoption of IFRS 9 on fair value of financial liabilities designated at fair value (See note 1 Basis of preparation) The reserves cannot be distributed among members. The consolidated financial statements of Rabobank include the financial information of Rabobank and other group companies. Consolidated net profit for Rabobank was 2,024 (2015: 2,214); net profit of Rabobank in the company financial statements was 1,960 (2015: 908). The difference in 2016 of 64 represents the non-controlling interests.The difference in 2015 of 1,306 represents the profits of local Rabobanks, which were not recognised in the company financial statements and the non- controlling interests. The table below shows reconciliation between the equity of Rabobank and that of Rabobank Group: Other reserves in millions of euros 2016 2015 The remaining reserves can be specified as follows: Recalibration of pensions1 (219) (175) Fair value changes due to own credit risk on financial liabilities designated at fair value (303) Retained earnings 23,200 (3,304) Total other reserves 22,678 (3,479) in millions of euros 2016 2015 Movements in the recalibration of pensions: Balance on 1 January (175) (196) Recalibration of pensions (44) 21 Balance on 31 December (219) (175) Movements in the fair value changes due to own credit risk on financial liabilities designated at fair value: Balance on 1 January Adjustment opening balance 62 Fair value changes (365) Realisation at derecognition Balance on 31 December (303) In millions of euros 2016 2015 Equity of Rabobank according to Part 9 of Book 2 of the Dutch Civil Code 39,590 18,815 Capital paid-up by local Rabobanks - (600) Premium - (5,402) A component of the equity of Rabobank Group: Trust Preferred Securities III to VI 409 1,131 A component of the equity of Rabobank Group: Other non-controlling interests 525 492 Equity of local Rabobanks according to Part 9 of Book 2 of the Dutch Civil Code - 26,761 Total group equity under IFRS, as presented in consolidated financial statements 40,524 41,197 288 Rabobank Jaarverslag 2016

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Jaarverslagen Rabobank | 2016 | | pagina 289