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The table below shows the major joint operations (project driven construction consortiums) in which the

Group is involved:

ENTITY

COUNTRY OF INCORPORATION

2016

2015

DREDGING & INLAND INFRA

A4ALL V.O.F.

The Netherlands

10%

10%

Boskalis Van Oord Pluit City JV V.O.F.

The Netherlands

50%

50%

BPL Beton

The Netherlands

50%

50%

BPL Wegen

The Netherlands

50%

50%

Combinatie BadhoeverBogen V.O.F.

The Netherlands

20%

20%

Combinatie BaggerIJ

The Netherlands

50%

50%

Combinatie IJsselweide

The Netherlands

50%

50%

Combinatie Isala Delta

The Netherlands

50%

50%

Combinatie Ommelanderdiek

The Netherlands

70%

-

Combinatie Regenboog V.O.F.

The Netherlands

38%

38%

Combinatie Tessel

The Netherlands

70%

-

Combinatie Wilhelminakanaal

The Netherlands

33%

33%

Kribverlaging Waal fase 3

The Netherlands

50%

50%

MSB Grind & Zand V.O.F

The Netherlands

33%

33%

Projectorganisatie Uitbreiding Maasvlakte (PUMA)

The Netherlands

50%

50%

SAAone EPCM Bouwcombinatie V.O.F.

The Netherlands

30%

30%

SAAone GWW V.O.F.

The Netherlands

50%

50%

Unie van Marken V.O.F.

The Netherlands

70%

70%

ZSNH Combinatie Van Oord/Boskalis V.O.F.

The Netherlands

50%

50%

NMDC-Boskalis-Van Oord-Jan de Nul Consortium for Suez Canal

Project

Egypt

25%

25%

Ras Laffan Port Extension

Qatar

50%

50%

Penta-Ocean Koon DI Boskalis Ham JV (Jurong 4)

Singapore

17%

17%

Boskalis Jan de Nul - Dragagens E Afins LDA

Angola

50%

50%

Bahia Blanca

Argentina

50%

50%

OFFSHORE ENERGY

Boskalis Offshore AS - Tideway V.O.F.

The Netherlands

50%

50%

Offshore Windforce V.O.F.

The Netherlands

50%

50%

Offshore Windforce VM *

The Netherlands

100%

50%

Offshore Windforce WIK *

The Netherlands

100%

50%

Thames JV

The Netherlands

50%

50%

Tideway-Boskalis JV

The Netherlands

50%

50%

Vulcan & Viking JV

The Netherlands

50%

50%

*With effect from 1 July 2016 the group expanded its interest to 100% in the joint operations that formed part of the acquisition of the offshore

activities of VolkerWessels

(refer to note 5.1).

31. SUBSEQUENT EVENT

On 28 February 2017 Boskalis sold its remaining share in Fugro N.V. This was sold through an

accelerated bookbuild via which 7.9 million (9.4%) certificates of shares in Fugro N.V. were placed with

institutional investors at EUR 14.50 per share. The proceeds amounted to EUR 115 million. At the time of

the accelerated bookbuild in December 2016, Boskalis entered into a 90 days lock-up

(see note 18.2

),

which was waived by the bookrunning banks.

125

ANNUAL REPORT 2016 – BOSKALIS