8.4 List of principal subsidiaries, joint arrangements and associates

Subsidiaries

%

BAM Groep Nederland bv*, Bunnik (Netherlands)

100

BAM Nederland bv*, Bunnik (Netherlands)

100

BAM Bouw en Techniek bv*, Bunnik (Netherlands)

100

BAM Residential bv*, Bunnik (Netherlands)

100

uniting the activities of:

BAM Wonen bv*, Bunnik

100

Homestudios bv*, Bunnik

100

AM bv*, Utrecht

100

BAM Specials bv*, Bunnik (Netherlands)

100

uniting the activities of:

BAM Energie & Water bv*, Nieuwleusen

100

BAM Telecom bv*, Zwammerdam

100

BAM Infra Nederland bv*, Gouda (Netherlands)

100

uniting the activities of:

BAM Infra bv*, Gouda

100

BAM Infra Rail bv*, Bunnik

100

BAM Infraconsult bv*, Bunnik

100

BAM Belgium bv, Berchem, Antwerp (Belgium)

100

uniting the activities of:

BAM Interbuild bv, Berchem, Antwerp

100

Kairos nv, Antwerp

100

BAM Construct & Ventures UK Ltd, Hemel Hempstead (United Kingdom)

100

Uniting the activities of:

BAM Construction Ltd, Hemel Hempstead

100

BAM FM Ltd, Glasgow, Strathclyde

100

BAM Nuttall Ltd, Camberley, Surrey (United Kingdom)

100

BAM Contractors Ltd, Kill, County Kildare (Ireland)

100

* In respect of these subsidiaries, Royal BAM Group nv has deposited a declaration of joint and several liability pursuant to Section 403, Part 9, Book 2 of the Netherlands Civil Code.

A list of associates as referred to in Sections 379 and 414, Book 2, of the Netherlands Civil Code has been deposited at the Office of the Trade Register in Utrecht.