Participating interests in group companies and other companies over which TenneT exercises control are stated at net asset value. The net asset value of a participating interest is determined by valuing the assets, provisions and liabilities and calculating the result using the principles applied to the consolidated financial statements.

The movement in participations in group companies can be broken down as follows:

The participations in group companies relate to the legal entities included in the consolidation: TenneT TSO B.V., APX B.V., APX B.V., NOVEC B.V., NLink International B.V. and New Values B.V. These participating interests have been valued in accordance with TenneT’s accounting principles.

TenneT TSO B.V. has issued a declaration of liability as referred to in Book 2, Part 9, Section 403 of the Netherlands Civil Code in respect of B.V. Transportnet Zuid-Holland with effect from 18 December 2003, and in respect of Saranne B.V. with effect from 1 January 2007.