Realdania

“FORM 990, PAGE 1, ITEM E Please note that the telephone number reported is a Danish telephone number. Realdania's Danish telephone number with appropriate country code information is +45 70 11 66 66. EMPLOYEES IN THE UNITED STATES Form 990, Part I, Line 5 and Form 990, Part V, Line 2a Realdania has no employees in the United States and does not file a Form W-3. OTHER PROGRAM SERVICES FORM 990, PART III, LINE 4D REALDANIA'S OTHER PROGRAM SERVICES INCLUDE STRENGTHENING FUTURE SOCIETY THROUGH NEW AND ADAPTED PHYSICAL SURROUNDINGS THAT FULLY CONSIDER THE PHYSICAL AND MENTAL HEALTH OF ALL SOCIAL GROUPS THAT PROMOTE SOCIAL INCLUSION AND RESOLVING THE CHALLENGES FACING OUTLYING AREAS AND RURAL DISTRICTS IN DENMARK BY IDENTIFYING AND DEVELOPING THE POSITIVE POTENTIAL OF LOCALLY-BOUND QUALITIES. OFFICERS WITH BUSINESS RELATIONSHIPS FORM 990, PART VI, LINE 2 JESPER NYGARD (CEO), HANS PETER SVENDLER (Director for Philanthropy - ENDING 08/15/2015), ANNE SKOVBRO (Director for Philanthropy - BEGINNING 08/15/2015), PUI LING LAU (COO), PETER JOHANSEN (CIO), AND HENRIK STAGE (CFO) ARE ALL ON THE BOARD OF REALDANIA'S SUBSIDIARIES.”

“Form 990, Part VI, Line 6 Any natural or legal persons who own real estate in Denmark, excluding the Faeroe Islands and Greenland, and municipalities which are members of the Specialist Election Group for Urban Development, may become a member of Realdania. Members may be independent legal persons in a group and branches of social housing organizations which own real estate. Legal persons shall be represented in the elected bodies of Realdania by a member of the management or a representative authorized by the management for this purpose, while municipalities shall be represented by the mayor or a representative appointed by the mayor. Realdania may demand documentation that members meet the conditions for being members at any time. Membership shall cease without notice in the event that conditions for membership are no longer met. Resignation shall be in writing. Cessation of membership shall not imply a claim on any part of the asset of Realdania. Members do not pay a subscription, and are not liable for the liabilities and obligations of Realdania. As of December 31, 2015, Realdania has 146,165 members; 139,667 personal members, and 6,498 legal persons.”

“FORM 990, PART VI, LINE 7A The members of Realdania can elect the 109 members of the Board of Representatives, which is the governing body of Realdania. The elections take place in ten regional election groups that elect 60 members to the Board of Representatives, and six specialist election groups that elect 42 members to the Board of Representatives. In addition, the Board of Representatives elects seven representatives based on recommendations from specific organizations. The election period is four years, and candidates who are 66 years or turn 66 years in the year of election cannot stand for election. In 2015, the members of Realdania elected 25 members for the Board of Representatives. The election took place in two professional and two geographical election groups. 16 members were re-elected and nine were newly elected: seven were elected in the election group for industry after uncontested election, seven were elected in the election group for agriculture after polling, five were elected in election group 4 (Southern Jutland) after uncontested election, and six members were elected in the election group 8 (Northern Jutland) after uncontested election. FORM 990 PROCESS OF REVIEW Form 990, Part VI, Line 11b The Form 990 is prepared in close cooperation with Realdania's Danish tax advisers and US tax advisers. Board members are granted high level information about the Form 990 in the auditor's long-form report.”

“Form 990, part vi, line 15a the members of the supervisory board receive a fixed yearly fee of dkk 300,000. The vice chairman receives a yearly fee of dkk 525,000 and the chairman a fee of dkk 900,000. None of the members of the supervisory board receive a variable fee. The latest adjustment of fees took effect on january 1 2011. Yearly expenses for fees to the supervisory board totaled dkk 4.125 million in 2015. The supervisory board determines the fee for the executive board which is made up of a fixed salary and pension. Information on individual fees and remuneration is stated in note 6 to the consolidated financial statements and at www.realdania.dk. Availability of governing documents, policies, and financial statements form 990, part vi, line 19 realdania's governing documents and statutes can be obtained from the "erhvervsstyrelsen" (a danish public body for companies, etc.). Realdania's financial statements are available on realdania's homepage: http://www.realdania.dk/om-os/konomiske-ngletal.”

“FORM 990, PART XI, LINE 9 Foreign Exchange Adjustments per Audited Financial Statements $141,000,000 Balance Sheet Foreign Exchange Differential $(350,100,000) Prior Year Reversal of Grant Expense $9,487,756 ------------------- Total $(199,612,244)”