Announcement conversion rate final dividend 2011

The Hague – On 24 April 2012, PostNL N.V. declared a final dividend 2011 of € 0.193 per ordinary share, that is payable fully in ordinary shares. The final dividend 2011 includes the pass-through of the final dividend received from the stake in TNT Express. The total 2011 dividend amounts to €0.407 per ordinary share, of which €0.214 per ordinary share has been paid as an interim dividend.

Shareholders will receive one new PostNL N.V. ordinary share for every 18 dividend rights. This represents a value of €0.1931 per dividend right which is a 0.06% premium above the value of the declared final dividend. The conversion rate was based on the volume-weighted average share price (€ 3.4761) for all PostNL N.V. shares traded on NYSE Euronext Amsterdam over the three trading day period from 2 May up to and including 4 May 2012.
 
The final dividend paid in shares will be sourced from the additional paid-in capital that is recognised for Dutch dividend withholding tax purposes and consequently free from such withholding tax.
 
Approximately 21,8 million new ordinary shares will be issued as final dividend 2011. The delivery of shares will take place as of 8 May 2012.