1. General Information

The company financial statements have been prepared in accordance with Part 9 of Book 2 of the Dutch Civil Code. For setting the principles for the recognition and measurement of assets and liabilities and determination of the result for its company financial statements, GrandVision makes use of the option provided in Article 362(8) of Book 2 of the Dutch Civil Code. This means that the principles for recognition and measurement of the company financial statements of GrandVision NV are the same as those applied for the consolidated IFRS financial statements. The subsidiaries are stated at net asset value.

For the accounting policies for the company balance sheet and Income Statement, reference is made to the notes to the consolidated balance sheet and Income Statement. As the financial data of the Company are included in the consolidated financial statements, the Income Statement in the company financial statements is presented in condensed form (in accordance with Article 402, Book 2 of the Dutch Civil Code).

All amounts are presented in euros (€). Amounts are shown in thousands of euros unless otherwise stated.

1.1 Accounting Policies

Financial fixed assets

Investments in consolidated subsidiaries are measured at net asset value. Net asset value is based on the measurement of assets (including goodwill), provisions, and liabilities and the determination of profit based on the principles applied in the consolidated financial statements.