Outlook

Given the uncertain economic developments, we expect the number of passengers at Amsterdam Airport Schiphol to grow slightly in 2012. In addition, we expect cargo volumes to fall.

We expect passenger spending at the airport to continue to grow in 2012. We anticipate that the value of our property portfolio will remain stable and that occupancy will improve. We also expect that our regional airports and international activities will again contribute positively to our results.

Barring unforeseen circumstances, we believe our net result in 2012 will at least match our net result in 2011 of EUR 194 million.

Schiphol, 16 February 2012

The Management Board