FINANCIAL STATEMENTS - KPN

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Tax loss carry forwards December 31, 2012 December 31, 2011 Recognized deferred tax assets Recognized deferred tax assets Tax loss carry forwards Tax loss carry forwards Koninklijke KPN – corporate tax 1 133 11 117 9 KPN Group Belgium – corporate tax 179 67 228 83 E-Plus – trade tax 2 1,428 202 2,021 139 E-Plus – corporate tax 2 10,167 818 14,375 662 Other 215 11 202 31 Total 12,122 1,109 16,943 924 1) The tax loss carry forwards are pre-consolidation losses (‘voorvoegingsverliezen’) limited in their use as such losses may only be compensated by taxable income generated by the specific company itself. 2) The loss carry forwards of trade tax and corporate tax can be used to offset future taxable income without any time limit. However, taxable income exceeding EUR 1 million in a certain year can only be offset for 60% against tax loss carry forwards. Trade tax and corporate tax have to be paid over the remaining 40% of taxable income. Under German tax law, E-Plus recorded a reduction of tax losses carried forward amounting to 27,5% or EUR 5 billion as a result of the change in control by America Movil, as stockholder in KPN, and thus exceeding the 25% threshold as defined in German tax law. The deferred tax asset related to these losses increased following an assessment of potential tax planning opportunities to accelerate the use of these losses amounting to EUR 382 million. Recognized deferred tax assets reflect management’s estimate of realizable amounts. The amounts of tax loss carry forwards are subject to assessment by local tax authorities. The expiration of the available tax loss carry forwards and recognized tax assets at December 31, 2012 is as follows: Maximum deferred tax asset Recognized deferred tax asset 1 Tax loss carry forwards 2013 20 5 1 2014 5 1 – 2015 10 3 – 2016 18 4 2 2017 18 5 4 Later 121 33 8 Total limited 192 51 15 Unlimited 11,930 1,931 1,094 Total 12,122 1,982 1,109 1) Deferred tax assets are recognized to the extent that it is probable that future taxable profits will be available against which the tax loss carry forwards can be utilized. The expiration of the available tax loss carry forwards and recognized tax assets at December 31, 2011 was as follows: Maximum deferred tax asset Recognized deferred tax asset 1 Tax loss carry forwards 2012 19 5 1 2013 14 3 1 2014 102 40 28 2015 14 4 2 2016 19 5 5 Later 118 29 – Total limited 286 86 37 Unlimited 1 16,657 2,672 887 Total 16,943 2,758 924 1) Deferred tax assets are recognized to the extent that it is probable that future taxable profits will be available against which the tax loss carry forwards can be utilized. KPN | Annual Report 2012 109
Consolidated Financial Statements Notes to the Consolidated Statement of Income continued [8] Earnings per share The following table shows the calculation of the basic and fully-diluted earnings per share attributable to equity holders based on the profit attributable to equity holders, the average number of subscribed ordinary shares and the calculated weighted average number of subscribed ordinary shares/weighted average number of subscribed ordinary shares taking into account the dilution effects: 2012 2011 Profit (loss) for the year in millions of EUR 693 1,549 Profit (loss) attributable to non controlling Interests [20] 2 – Profit attributable to equity holders [19] 691 1,549 Weighted average number of subscribed ordinary shares outstanding 1,418,808,437 1,460,869,236 Dilution effects: – options and non-vested shares 2,590,494 1,098,829 Weighted average number of subscribed ordinary shares outstanding including dilution effects 1,421,398,931 1,461,968,065 Earnings per share after taxes attributable to equity holders for the year in EUR – basic 0.49 1.06 – fully-diluted 0.49 1.06 Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. Share options and non-vested shares are regarded to have potential dilutive effects on the ordinary shares. For the share options and share plans, a calculation is made in order to determine the number of shares that could have been acquired at fair value (determined as the average annual market share price over 2012, being EUR 6.83) based on the monetary value of the subscription rights attached to outstanding share options. The profit attributable to equity holders used for calculations on a diluted basis is equal to the profit attributable to equity holders used for calculations on a non-diluted basis. [9] Dividend per share During 2012 KPN paid an interim dividend of EUR 0.12 per share. On 14 December 2012, KPN announced an adjustment to its dividend outlook. KPN will not pay a final dividend over 2012. 110 KPN | Annual Report 2012
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FINANCIAL STATEMENTS - KPN

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