Dividend Hal at 6,50 euros

On May 18, 2016 the proposal to distribute a dividend of € 6.50 per HAL Trust Share was approved. This dividend will be paid in HAL Trust shares unless a Shareholder expressly requested payment in cash by not later than June 13, 2016 (3:00 p.m. CET). In case of payment of dividend in Shares, Shareholders will receive one new Trust Share per 27.3 dividend rights of shares. Any fraction of a Share will be settled in cash.

The conversion ratio was determined based on the volume weighted average share price of HAL Trust shares traded on Euronext in Amsterdam during the period May 24, 2016 through June 13, 2016.

The value of the stock dividend, at the above volume weighted average share price, is virtually the same as the value of the cash dividend.