ABP / APG Asset Management — mandate, returns, leadership

UAO Registry · Top 100 · Rank 11 · Public pension · Netherlands

Last researched: Sunday 6 September 2026 (ET). Corrections: info@universalassetowners.com

Executive brief
Speakable summary
Mandate & ownership
Scale & portfolio
Governance & leadership
Investment philosophy
Climate / ESG / ethics
Performance & reporting
Controversies & debates
Timeline
Annex: ABP quarterly path
Annex: APG AM strategy & AUM
Annex: RI & climate detail
Annex: APG Annual Report folds
FAQ
Sources
Official video
Completeness note

Executive brief

ABP (Stichting Pensioenfonds ABP) is the Netherlands’ large public-sector pension fund for government, education and related civil-service participants. APG Asset Management (part of APG Groep N.V.) is the asset manager and administrator that invests and services ABP’s scheme alongside other Dutch pension-fund clients. This Registry profile covers the combined Top 100 entity ABP / APG Asset Management (slug abp-apg-asset-management) while keeping legal roles distinct: fund AUM, funding ratios and pension increases are ABP figures; multi-client AM AUM and the AM board are APG figures.

Latest dated ABP scale: available assets €533 billion at year-end 2025 (Q4 2025 press, 29 January 2026), also cited as €533.1 billion in ABP’s 24 April 2026 annual-report announcement; €530 billion at 31 March 2026 (Q1 2026 press). FY 2025 investment return −1.6% (−€8.5 billion); current funding ratio 123.5% at YE 2025, then 119.1% at end-Q1 2026. Pensions rose 2.84% from 1 January 2026. Prefer EUR as published — no invented USD conversion.

APG Asset Management reported EUR 601 billion managed for four pension funds at YE 2025 (APG Groep N.V. Annual Report 2025), down from EUR 616 billion at YE 2024, with absolute return −1.6%. Strategy: by 2030 APG AM will be fully focused on investing for ABP.

APG AM leadership (live leadership page): CEO & COO Alineke van den Berge (appointment as Alineke van den Berge-Blindenbach effective 1 July 2026 after CEO a.i. from March 2026); CIO Capital Markets Herman Slooijer; CIO Private Investments Patrick Kanters. ABP board chair Harmen van Wijnen. APG Group executive board chair Annette Mosman.

Researchers care because ABP is among Europe’s largest occupational pension balance sheets, with transparent quarterly funding and portfolio appendices, a 2027 Dutch pension-system (Wtp) transition clock, and an asset manager publicly concentrating on a single mega-client chain by 2030. Related UAO hubs: Registry, Top 100, sovereign & public capital.

Speakable summary

ABP is the Dutch public-sector pension fund; APG Asset Management is its principal asset manager and administrator. At year-end 2025 ABP reported about €533 billion of available assets, a −1.6% investment return, and a 123.5% current funding ratio, enabling a 2.84% pension increase from January 2026. APG reported EUR 601 billion of assets under management for four funds at year-end 2025 and is shifting APG Asset Management to an ABP-only investment focus by 2030 under CEO Alineke van den Berge.

Mandate & ownership

What ABP is: a Dutch occupational pension foundation serving participants who work or have worked in government, education and related public domains. It collects contributions, pays pensions, sets investment policy frameworks, and reports funding ratios under Dutch pension supervision. What APG is: APG Groep N.V. provides pension administration for multiple funds and asset management for a subset (including ABP). APG is not the legal owner of ABP’s pension assets; it manages and administers under client mandates.

ABP’s English Investments materials state the mission as a good and affordable pension today and in the future, in a sustainable world participants can enjoy — with explicit attention to returns, risks, costs and ESG. APG’s Annual Report 2025 describes a fiduciary model with a clear division of roles between pension-fund boards and the asset manager, and a corporate strategy centred on Pension Services and Asset Management business units.

Ownership chain for researchers: social partners (unions and employers) set scheme parameters; ABP’s board accepts and implements (including the renewed Wtp scheme mandate accepted in 2025); APG executes administration and investment within ABP’s frameworks. Do not treat “APG AUM” and “ABP available assets” as interchangeable — at YE 2025 APG’s four-fund AM total (EUR 601bn) exceeds ABP alone (€533bn) because other clients are included.

Mandate is not a sovereign wealth fund, not a central-bank reserve manager, and not a retail asset-management brand open to the general public. It is a Dutch DB (transitioning) occupational pension system with public-sector coverage.

ABP 24 April 2026 annual report news: Although 2025 was a negative investment year, financial position improved via higher actuarial interest rate. Current funding ratio rose from 111.7% to 123.5%. Total assets end-2025 €533.1 billion. Pension increase 2.84% from 1 January 2026.

Harmen van Wijnen: 2025 stood for renewal and confidence; on course to a clearer future-proof pension. Board accepted mandate from unions and employers to implement renewed pension scheme; planned transition 1 January 2027.

Scale & portfolio

ABP publishes quarterly available assets, liabilities, actuarial interest rates and funding ratios. The table below uses the English Q1 2026 press appendix path (which restates YE 2025).

As-of	Available assets	Liabilities	Current funding	Policy funding	Actuarial rate
YE 2024	€542bn	€486bn	111.7%	113.1%	2.1%
Q1 2025	€520bn	€450bn	115.6%	113.8%*	2.6%
Q2 2025	€522bn	€444bn	117.5%	113.7%	2.7%
Q3 2025	€532bn	€438bn	121.7%	115.3%	2.8%
YE 2025	€533bn (€533.1bn in AR news)	€432bn	123.5%	118.3%	3.2%
Q1 2026	€530bn	€445bn	119.1%	119.9%	3.0%

*Policy funding path as printed in Q4/Q1 English releases; verify live tables if reprinting.

Q1 2026 portfolio weights (ABP appendix): Fixed income 41.0%; Equity 30.5%; Alternative investments 18.8%; Real estate 9.5%; overlay/other completing 100%. Q1 2026 sleeve returns: fixed income −0.3%; equity −3.1%; alternatives +3.1%; real estate +1.6%; total with overlay −0.5% (−€2.8 billion). FY 2025 equity contributed positively in absolute terms in the appendix presentation while long-duration treasuries, infrastructure and real estate weighed on the −1.6% total.

APG AM scale (separate entity metric): EUR 601 billion for four funds at YE 2025. ABP Investments English page also notes ~€531 billion “total invested assets” as at 31 December 2025 and >6% average annual return over 20 years, with an expected average return around 4.5% per year going forward — prefer the dated €533 / €533.1 billion press/AR available-assets figures for headline AUM.

Governance & leadership

ABP (fund): Board communications are chaired publicly by Harmen van Wijnen, who speaks on funding ratios, indexation and the 2027 scheme transition. Detailed trustee rosters should be taken from live ABP organisation pages when reprinting seats — this profile does not invent board seats beyond named chairs in opened press.

APG Asset Management (manager): Management board per official leadership page: Alineke van den Berge — Chief Executive Officer and Chief Operating Officer; Rianne Lemsom — Chief Fiduciary Officer; Herman Slooijer — CIO Capital Markets; Patrick Kanters — CIO Private Investments; Barbara Bakker — Chief Finance & Risk Officer. Supervisory board: Allan Polack (Chairman), Sarah Russel (Vice-chair), Constant Korthout (Member).

CEO chronology (opened APG publication, 1 July 2026): Alineke van den Berge-Blindenbach appointed CEO effective 1 July 2026; COO since 2023; CEO ad interim since March 2026; member of APG Group Executive Committee. Annette Mosman (Chair, APG Group Executive Board) and Allan Polack commented on continuity through the AM transformation toward an ABP-only investment focus by 2030. She continues as COO until a successor is appointed.

CIO structure: after the earlier departure of a single CIO (Peter Branner, per prior APG publications), APG split Capital Markets and Private Investments CIO roles — filled by Herman Slooijer and Patrick Kanters, who appear on the live leadership page as standing board roles (not labelled interim on the current page).

Alineke van den Berge - Blindenbach (female, 1971, Dutch nationality) Alineke has been Chief Opera- ting Officer (COO) at APG Asset Management since January 1, 2023. As of March 1, 2026, she also serves as Chief Executive Officer of APG Asset Management on an interim basis.

Alineke has broad experience in operations, technology and digital transformation. She began her career in 1998 at management consultancy TwynstraGudde and subsequently worked for 22 years at ABN AMRO in various leadership roles. Her most recent position there was Managing Director and theme owner for Products, Services and Process Digitalization.

Other positions as of March 24, 2026: • Supervisory Board member at Arbo Unie (since January 1, 2024) • Supervisory Board member at BeLife (a subsidiary of Arbo Unie) Rob Schormans (male, 1979, Dutch nationality) Rob was appointed Chief Executive Officer of APG Pension services as of March 1, 2026.

Rob has been working at APG since 2018. Prior to his appointment as CEO APG Pension services, he served as managing Director Pension administration. At APG, he is responsible for pension administration as well as participant and employer communications and services.

In addition, he is responsible for the development of the 2030 Strategy for Pension services. Rob has more than twenty years of experience in the financial sector and previously held various execu- tive positions at ABN AMRO. Annual Report 2025 Foreword About APG Results Governance Sustainability WC SB Financial Statements Governance > Corporate governance Our remuneration policy Risk management Executive Board Executive Committee SB 68 Wim Koeleman (male, 1965, Dutch nationality) Wim was appointed Chief Client Officer for Pension services as of March 1, 2026.

Wim joined APG in 2021, following a twenty year career at PwC, where he led the pensions advisory practice. Earlier in his career, he held various senior management and advisory positions in the pension sector, including Head of Pensions at KLM/ Blue Sky Group and Secretary for Pension Policy at VNO NCW.

APG 1 July 2026: Alineke van den Berge-Blindenbach appointed CEO of APG Asset Management effective 1 July 2026. Joined as COO in 2023; CEO ad interim since March 2026; member of APG Group Executive Committee. Appointment follows renewed strategy with Pension Services and Asset Management units; APG AM will focus exclusively on managing pension assets for ABP from 2030.

Annette Mosman and Allan Polack commented on continuity and coherence. She continues COO duties until a successor is appointed. Leadership page lists Alineke van den Berge as CEO and COO; Rianne Lemsom Chief Fiduciary Officer; Herman Slooijer CIO Capital Markets; Patrick Kanters CIO Private Investments; Barbara Bakker CFRO; SB Allan Polack, Sarah Russel, Constant Korthout.

Investment philosophy / strategy

ABP’s four investment screens (English Investments): attractive expected return; acceptable risk; costs not too high; sufficiently responsible and sustainable operations. Diversification across geographies, sectors and asset classes is explicit. Expected average return ~4.5% per year; 20-year realised average >6% (same page).

APG emphasises long-term investing within client frameworks, with roughly two-thirds of pension benefits historically derived from investment returns (APG AR 2025 narrative). Fiduciary management separates strategic advice / responsible investment / private-markets capabilities. By 2030 APG AM’s published destination is a single integrated investment chain with ABP — strategic advice, RI and private markets called out as distinguishing strengths.

Near-term Dutch system change dominates operational strategy: ABP plans Wtp transition on 1 January 2027, with funding-ratio thresholds guiding how much surplus can be distributed into personal and collective buffers. Q1 2026 messaging stressed resilience via multi-country, multi-asset diversification amid geopolitical shocks.

By no later than 2030, APG Asset Management will be fully focused on investing for ABP. The unit distinguishes itself through strategic investment advice, responsible investment and investments in private markets. This full focus on ABP creates a single, integrated investment chain with ABP, which we are organizing as efficiently as possible.

Corporate Center Both business units are supported by a compact, service‑oriented Corporate Center that brings together expertise and enhances execution power. This structure makes APG faster, more agile and more efficient. Impact on the organization An integral part of the strategy is offering market‑conform pricing.

This means that by 2030, APG has a cost‑reduction target of EUR 240–270 million compared with 2024. Such a reduction in costs inevitably has an impact on our workforce. To enable this cost reduction, we foresee a phased reduction of 1,000–1,200 FTEs, partly through natural attrition.

18 Annual Report 2025 Foreword About APG Results Governance Sustainability WC SB Financial Statements About APG > Who we are and what we do Our world today and tomorrow How we create value Our ambitions and strategy This requires careful support for colleagues.

This will take place in close consultation with the works council and trade unions, with due attention to the human dimension and individual development. Transition and the future The transition to the renewed pension system will remain a priority in the coming years.

PWRI and PPF APG successfully transitioned on 1 January 2025. In 2026, bpfBOUW, Pensioenfonds Schoonmaak and SPW will follow. ABP and PFAB are scheduled for transition on 1 January 2027, while the transition date for SPMS has been postponed to 1 January 2028. At the same time, we are carrying out the transition carefully and in phases, ensuring that even during this intensive period we remain a stable and reliable administration partner for both existing and new pension funds.

In parallel, we are working on digitalization, automation and a future‑proof IT landscape. Innovations such as AI help to improve quality and reduce costs. Dilemma: prioritizing transformations How do we ensure a careful transition of our clients to the renewed pension system, while at the same time preparing for the new reality that follows?

The transition to the renewed pension system has the highest priority. Pension funds and administrators must realize this transition in a careful and controlled manner, under strict governance and supervision. At the same time, Strategy 2030 requires investments in renewal and future‑proofing.

APG also provides asset management services for part of the pension funds we work for, namely ABP, bpfBOUW, SPW and PPF APG. At the end of 2025, we managed assets of EUR 601 billion on behalf of four pension funds. We do so with a clear objective: to generate the highest possible pension value in a cost-conscious and responsible manner.

About two-third of the pension benefits participants receive are derived from investment returns. That is why we invest with a long-term perspective, within the frameworks set by our client pension funds, and with attention to sustainability, human rights and good governance.

Together with the pension funds we serve, APG has developed a fiduciary management model characterized by a clear division of roles within the investment process. APG Asset Management focuses its strategic proposition on total portfolio advice, responsible investment, investments in private markets and efficient solutions for capital market investments.

Pension fund boards grant the mandates and remain ultimately responsible. Approximately two-thirds of the assets are managed by APG’s in-house investment teams; the remainder is managed by external specialists, under APG’s supervision. Responsible investment is an integral part of our approach.

ESG criteria – environmental, social and governance – are incorporated into all investment decisions. We actively advise pension funds on themes such as human rights, diversity and climate change. To support pension funds in achieving their sustainability ambitions, APG continuously develops new instruments, such as ESG analysis systems and models for impact measurement and reporting, and seeks cooperation with external parties.

In doing so, we also respond to the expectations of participants, who want their pension contributions to be invested responsibly. APG invests on behalf of pension funds across a broad range of asset classes, from equities and bonds to alternative investments such as real estate, infrastructure and private equity.

In the investment process, we use advanced data analysis and multiple sources to assess companies and their performance in depth. This enables us to improve our models, manage risks more effectively and strive for optimal returns. In this way, we contribute to a future- proof pension for today, tomorrow and the years ahead.

A sustainable society Pensions are not only about financial returns, but above all about people – about life, living together and future prospects. That is why, at APG, we look beyond the numbers. Like the pension funds we work for, we feel a responsibility to contribute to a sustainable society.

Climate / ESG / ethics

ABP Climate Policy summary (official Investments page): Paris-aligned portfolio; net zero portfolio GHGs by 2050; 50% less GHGs in 2030 versus 2019; €30 billion in climate transition by 2030 including €10 billion impact investments. Nature & biodiversity policy aligns with Kunming-Montreal; human rights framed as prerequisite; corporate governance as fundamental for transitions.

Exclusions (Investments page): companies involved in weapons banned by treaties the Netherlands has joined (cluster bombs, anti-personnel mines, biological and chemical weapons); tobacco producers and (key components of) nuclear weapons; government bonds of countries under UN or EU binding weapons embargoes. Company minimum criteria cover climate, nature/biodiversity, human rights, and governance/integrity; ABP states it no longer invests in every company but builds a basket meeting minima, starting 2024 and tightening as data improve. Opened criteria materials list fossil-fuel producers and coal-expansion companies among non-investable climate categories.

Stewardship: ABP votes globally when practicable; has agreements with APG on conflicts of interest in stewardship. RI reporting is integrated into the annual report from 2020 (standalone RI reports through 2019).

ABP strives for a good and affordable pension and a sustainable world. Attention to returns, risks, costs and ESG. ABP invests contributions in real estate, equities and bonds because investing generates a higher long-term return than saving. Expected average return around 4.5% per year.

Over the past 20 years average return over 6% annually. Diversified by geographies, sectors and asset classes. Four screens: attractive expected return; acceptable risk; costs not too high; sufficiently responsible and sustainable. Climate Policy: Paris-aligned portfolio; net zero GHGs by 2050; 50% less GHGs in 2030 vs 2019; invest €30 billion in climate transition by 2030 of which €10 billion impact investments.

Nature & biodiversity aligned with Kunming-Montreal. Good corporate governance fundamental. ABP votes at shareholder meetings whenever practically possible; agreements with APG on stewardship conflicts. Exclusions: banned weapons (cluster bombs, anti-personnel mines, biological and chemical weapons); tobacco and nuclear weapons producers; government bonds of countries under UN or EU binding weapons embargo.

Climate risks We analyse both transition risks and physical climate risks within the investment portfolios of the pension funds we serve. Transition risks are the financial and operational risks arising from the shift towards a low‑carbon economy, for example as a result of changes in policy, technological innovation, market dynamics or legal developments.

We assess Colleagues on the work floor at the extent to which companies, particularly the Amsterdam office. in sectors with a high climate impact, are Annual Report 2025 Foreword About APG Results Governance Sustainability WC SB Financial Statements Results > Pension Services Asset Management Our foundation reducing their greenhouse gas emissions and and transmission infrastructure, and TenneT, serve, to taking ambitious action in the field of have a strategy for a climate‑neutral economy.

Germany’s largest electricity transmission biodiversity policy. In doing so, we follow the recommendations system operator. The cooperation, launched of the Task Force on Climate‑related Financial in October 2024, represents a structural A concrete example is APG’s acquisition, Disclosures (TCFD).

The outcomes of our innovation in international collaboration on behalf of ABP, of a majority stake climate risk analyses help us determine which between pension funds and forms part of APG’s in a sustainable forestry project covering sectors require additional or more stringent Asset Owner Partnership (AOP).

forestry project is expected to sequester In addition, in 2025 APG, on behalf of our nearly two million tonnes of carbon over Carbon footprint of investments clients, took the final investment decision to the next fifteen years. Together with Both APG Asset Management and all of our proceed with the bioenergy with carbon capture Molpus Woodlands Group, an impact‑oriented asset management clients have set targets to and storage (BECCS) project in Stockholm.

This performance mechanism has been put in place reduce the CO2 footprint of their investments. will be one of the first commercial BECCS to strengthen accountability for climate and In addition, APG Asset Management, ABP, facilities in Europe. The installation is expected biodiversity outcomes.

bpfBOUW and SPW have signed the climate to capture and permanently remove up to 36 commitment of the Dutch financial sector. In 800,000 tonnes of biogenic CO2 per year, 2025, we participated in the annual progress exceeding the annual emissions from road reporting and engaged in consultations with traffic in the city.

other signatories to develop a joint progress report through DUFAS. Biodiversity Biodiversity is essential because of the social Investing in the energy transition and economic value that nature provides, Through our co‑investment programme, such as food security, the development of together with four leading Swiss pension funds, medicines, climate regulation, the availability we invested more than EUR 250 million in of fresh water and recreation.

Performance & reporting

Transparency stack (opened): quarterly English press releases with funding tables and portfolio-return appendices; Dutch annual-report news and PDF annual report; holdings overviews linked from Investments (corporate bonds, government bonds, top 100, listed investments); tax contribution reporting; climate and biodiversity policy PDFs.

FY 2025: −1.6% (−€8.5bn); assets €533bn; liabilities €432bn; current funding 123.5%; indexation decision 2.84% from 1 Jan 2026. Drivers cited by ABP: higher rates and ~12% USD depreciation versus EUR hurt some sleeves even as equities had a generally good year. Q1 2026: −0.5% (−€2.8bn); assets €530bn; liabilities €445bn on lower rates; current funding 119.1%.

APG AR 2025 parallel: four-fund AM AUM EUR 601bn; absolute return −1.6% (vs +8.9% in 2024). An erratum corrects five-year active excess-return explanation to −70 bps annualised (not −349 bps cumulative misread as annual).

Press release of ABP Quarterly Report Q4 2025. Published 29 January 2026 on abp.nl. Key points: pension increase 2.84%; current coverage ratio year-end 2025 123.5% (year-end 2024 111.7%); investment result 2025 -1.6%; Q4 2025 +0.2%; available capital year-end 2025 €533 billion; liabilities year-end 2025 €432 billion (year-end 2024 €486 billion).

In 2025, ABP's coverage ratio rose significantly to 123.5% at the end of the year, mainly due to increased interest rates. It was not a good investment year due to turmoil from trade tariffs and wars. The investment result for 2025 was -1.6%, mainly due to rising interest rates and a falling US dollar.

Liabilities fell due to higher interest rates. ABP was able to increase pensions by 2.84%. Harmen van Wijnen, Chair of the Board of Trustees: For ABP, it was a year with two sides of the same coin: investments achieved a negative result for 2025, mainly due to increased interest rates and the falling US dollar.

On the other hand, increased interest rates raised the coverage ratio every quarter, up to 123.5% at end-2025. ABP's available assets decreased from €542 billion at year-end 2024 to €533 billion at year-end 2025. Return -1.6% (-€8.5 billion) for 2025. The US dollar fell almost 12% against the euro in 2025.

Actuarial interest rate rose to 3.2% in Q4. Pension liabilities fell by €6 billion in Q4 to €432 billion at end-2025. Quarterly available assets € billion: Q4 2024 542; Q1 2025 520; Q2 2025 522; Q3 2025 532; Q4 2025 533. Liabilities: 486; 450; 444; 438; 432. Current funding: 111.7; 115.6; 117.5; 121.7; 123.5.

Policy funding: 113.1; 113.8; 113.7; 115.3; 118.3. Actuarial rate: 2.1; 2.6; 2.7; 2.8; 3.2.

Press release of ABP Quarterly Report Q1 2026. Published 23 April 2026 on abp.nl. Current funding ratio fell to 119.1% in Q1. First quarter investment return -0.5% (-€2.8 billion). Pension liabilities rose to €445 billion. Policy funding ratio rose to 119.9%. Assets amounted to €530 billion at end-March 2026.

Chair Harmen van Wijnen: turmoil in the Middle East made it a difficult first quarter. January and February were good investment months, but news of the war in Iran led to declines. ABP diversifies across many countries and investment types with a long-term perspective.

ABP is on track to transition to the new pension scheme in 2027 and wants at least 110% funding at transition; 119.1% is high enough at this time. Pensions increased 2.84% in January 2026. Q1 2026 weights: Fixed Income 41.0% return -0.3%; Equity 30.5% return -3.1%; Alternatives 18.8% return 3.1%; Real Estate 9.5% return 1.6%; before overlay -0.3% (-€1.7bn); total with overlay -0.5% (-€2.8bn).

Financial investment results At the end of the 2025 financial year, we managed total invested assets of EUR 601 billion on behalf of four pension funds (2024: EUR 616 billion). The decrease in assets under management was mainly driven by developments in the financial markets.

The absolute return on investment amounted to ‑1.6% (2024: 8.9%). Although solvency improved, absolute returns for the pension funds we serve were modest in 2025. This was due in part to a steepening of the yield curve and a rise in long‑term interest rates in the eurozone.

This put pressure on fixed-income securities, particularly those with longer duration. In addition, non‑listed assets lagged behind the returns on public equities. Excess return Over the five‑year period since the beginning of 2021, the average excess return relative to benchmarks amounted to −74 basis points per year across total assets under management and −349 basis points for the actively managed portfolio.

In 2025, we recorded a negative excess return of −209 basis points for the total portfolio and −302 basis points for active investments. Our objective is to create as much pension value as possible for the pension funds we serve. That is why we aim to generate maximum excess returns within acceptable risk boundaries.

The current picture falls below these ambitions and has caused us to reassess a number of strategies. Nevertheless, we remain confident that our active strategies can once again outperform benchmarks over time. These negative results are partly explained by the differing annual dynamics between listed benchmarks and valuation‑based pricing of illiquid investments.

All external investment costs are deducted from these figures. Where possible, we measure excess return against broad market benchmarks. Throughout the financial cycle, we invest in strategies that add value over the long term to the pensions of participants of our pension fund clients.

In our investments, we give preference to companies with a strong responsible investment profile. Participants of the pension funds we serve consider responsible investing important because of its positive contribution to society. In addition, we expect sustainable and responsible investing to contribute to a lower risk profile over the long term.

Asset Management 28 Annual Report 2025 Foreword About APG Results Governance Sustainability WC SB Financial Statements Results > Pension Services Asset Management Our foundation This does not mean that our active investments will outperform market indices every year.

In 2025, companies associated with theAI were rewarded by the market, regardless of their performance in the areas of environment, social factors or governance. We recognize these developments and will continue to refine our approach in a world that is constantly evolving.

Liquid investments Equity strategies underperformed the benchmark in 2025. While equity markets performed well overall, a large part of the strong price increases was concentrated in a limited group of companies benefiting from the artificial intelligence (AI) theme.

Controversies & debates

Official attributable framing first: ABP itself describes 2025 as a two-sided year — negative investment return alongside rising funding ratios from higher discount rates — and Q1 2026 as geopolitically difficult (Middle East / Iran market shock named in the English press quote). Indexation of 2.84% fully matched the cited price rise window; prior years’ catch-up and 2027 transition surplus distribution remain sensitive participant topics ABP discusses openly in Q1 2026 “what participants can expect” text.

APG’s concentration strategy (AM → ABP-only by 2030) is an official transformation that implies wind-down or transition of other AM client relationships over time — material for multi-client observers; treat secondary press on client exits as secondary unless APG/ABP confirm.

Exclusion and fossil criteria debates are industry-wide; this profile only repeats ABP’s published exclusion and company-criteria language rather than inventing engagement outcomes or controversy scores.

Timeline (annotated, official milestones)

2023 — Alineke van den Berge joins APG AM as COO (APG bio / appointment release).
2024 — ABP begins applying minimum company investment criteria (Investments / criteria materials).
YE 2024 — ABP available assets €542bn; current funding 111.7% (Q4 2025 restatement).
2025 — ABP board accepts Wtp implementation mandate; APG announces renewed two-unit strategy; ABP FY return −1.6%; YE assets €533bn / €533.1bn; funding 123.5%; APG AM AUM EUR 601bn.
Mar 2026 — van den Berge becomes CEO of APG AM ad interim.
31 Mar 2026 — ABP assets €530bn; current funding 119.1%; Q1 return −0.5%.
24 Apr 2026 — ABP annual-report 2025 news (€533.1bn; transition narrative).
1 Jul 2026 — van den Berge-Blindenbach appointed CEO of APG AM (effective).
Target 1 Jan 2027 — ABP planned transition to renewed Dutch pension rules.
Target 2030 — APG AM fully focused on investing for ABP.

Annex: ABP quarterly funding & return path

Folded from ABP English Q4 2025 and Q1 2026 press releases (opened).

Policy funding: 113.1; 113.8; 113.7; 115.3; 118.3. Actuarial rate: 2.1; 2.6; 2.7; 2.8; 3.2. Press release of ABP Quarterly Report Q1 2026. Published 23 April 2026 on abp.nl. Current funding ratio fell to 119.1% in Q1. First quarter investment return -0.5% (-€2.8 billion).

Pension liabilities rose to €445 billion. Policy funding ratio rose to 119.9%. Assets amounted to €530 billion at end-March 2026. Chair Harmen van Wijnen: turmoil in the Middle East made it a difficult first quarter. January and February were good investment months, but news of the war in Iran led to declines.

ABP diversifies across many countries and investment types with a long-term perspective. ABP is on track to transition to the new pension scheme in 2027 and wants at least 110% funding at transition; 119.1% is high enough at this time. Pensions increased 2.84% in January 2026.

Q1 2026 weights: Fixed Income 41.0% return -0.3%; Equity 30.5% return -3.1%; Alternatives 18.8% return 3.1%; Real Estate 9.5% return 1.6%; before overlay -0.3% (-€1.7bn); total with overlay -0.5% (-€2.8bn). FY 2025 total -1.6% (-€8.5bn).

Source fold: ABP Q4 2025 + Q1 2026 English press releases on abp.nl. Verify against the live page/PDF before citing beyond this page.

Annex: APG Asset Management strategy, AUM & administration

Folded from APG Groep N.V. Annual Report 2025 (English translation; Dutch prevails) and related strategy passages on the ABP-only 2030 focus.

Ranging from processes and systems to service delivery. These efforts must not have a significant negative impact on the transition. With appropriate governance and a disciplined approach, we work to address these challenges. Nevertheless, the dilemma remains: resources, attention and capacity are limited, and choices that serve the long term may at times be at odds with short‑term priorities.

19 Annual Report 2025 Foreword About APG Results Governance Sustainability WC SB Financial Statements About APG > Who we are and what we do Our world today and tomorrow How we create value Our ambitions and strategy Interview Dina Aleman Three questions for “ “We need to step beyond our own shadow to build a future‑proof APG” Three questions for Dina Aleman, Managing Director Strategy, Corporate Communication and Governance In 2025, APG set its course for the coming years with Strategy 2030.

How do you look back on that process? “It was an intensive process, but also a collective one. All key stakeholders were involved: Asset Management, Pension Services, APG Group, the works council and our clients. That is a positive thing, although at times it required careful alignment.

ABP, which is both a shareholder and a client of APG, developed a new outsourcing vision in 2024. Naturally, ABP was keen to see how we would respond to that in our strategy. In the end, it became a broadly supported strategy, thanks to the commitment of many colleagues who invested a great deal of time and energy.” What do you see as the core of Strategy 2030?

First, the new approach leads to stronger alignment with ABP and our other clients. Second, we are working towards a sharper, more focused proposition, in which we can also be distinctive. Third, it results in a clear operating model: a single‑client relationship for Asset Management, while we continue to serve multiple funds through Pension Services.

That triangle of alignment, a focused proposition and a clear operating model makes the fourth element possible: a market‑conform cost model. And the positive aspect is that our clients have received this approach well. They understand the need to take this direction and see that they will benefit from it too.” This strategy also requires difficult choices.

“This affects people, and that is a tough message. That is why we want to suppo APG also provides asset management services for part of the pension funds we work for, namely ABP, bpfBOUW, SPW and PPF APG. At the end of 2025, we managed assets of EUR 601 billion on behalf of four pension funds.

We do so with a clear objective: to generate the highest possible pension value in a cost-conscious and responsible manner. About two-third of the pension benefits participants receive are derived from investment returns. That is why we invest with a long-term perspective, within the frameworks set by our client pension funds, and with attention to sustainability, human rights and good governance.

Source fold: APG Groep NV Annual Report 2025 PDF. Verify against the live page/PDF before citing beyond this page.

Annex: Responsible investment & climate detail

Folded from ABP English Investments / climate materials and APG AR climate-risk narrative.

Investment criteria on climate, nature and biodiversity, human rights, governance and integrity. First step 2024; tighten as data improves. Fossil fuel producers and coal-expansion companies among non-investable climate categories in ABP criteria materials. Climate risks We analyse both transition risks and physical climate risks within the investment portfolios of the pension funds we serve.

Transition risks are the financial and operational risks arising from the shift towards a low‑carbon economy, for example as a result of changes in policy, technological innovation, market dynamics or legal developments. We assess Colleagues on the work floor at the extent to which companies, particularly the Amsterdam office.

in sectors with a high climate impact, are Annual Report 2025 Foreword About APG Results Governance Sustainability WC SB Financial Statements Results > Pension Services Asset Management Our foundation reducing their greenhouse gas emissions and and transmission infrastructure, and TenneT, serve, to taking ambitious action in the field of have a strategy for a climate‑neutral economy.

As a signatory Swiss assets in critical infrastructure projects. to the Finance for Biodiversity Pledge, APG is These include, among others, investments in committed, on behalf of the pension funds we Pattern Energy, a US leader in renewable energy Annual Report 2025 Foreword About APG Results Governance Sustainability WC SB Financial Statements Results > Pension Services Asset Management Our foundation Human rights and labour conditions Our expectations focus on board composition APG and the pension funds we serve expect and independence, shareholder rights, companies to respect human rights, in line remuneration policies, and financial reporting Responsible investment on with the United Nations Guiding Principles on and audit practices.

our website Business and Human Rights. The Corporate We regularly report on our website on the Human Rights Benchmark (CHRB), co‑founded Regulators and policymakers regularly consult integration of ESG factors in our investment by APG in 2017, is an important instrument market participants to assess the implications approach.

Our policy documents are also for assessing how companies apply these of potential policy changes. APG and the available there, as well as sustainability principles. The CHRB forms part of the pension funds we serve often play an active disclosures, including an overview of World Benchmarking Alliance.

In addition, role in these consultations and also proactively companies with which we engage and a list APG participates in PRI Advance, a global contribute their perspectives. of excluded companies and sovereign bonds. initiative for responsible stewardship led by the Principles for Responsible Investment (PRI).

Engagement and voting policy In 2025, we published our third Stewardship Through our investments, we focus on sectors Overview, providing an overview of engagement and voting activities in the Promoting a living wage with a significant impact. For this reason, we preceding year.

37 APG is a member of the Platform Living Wage pursue an active engagement policy on behalf Financials (PLWF), a collaboration of financial of the pension funds we serve. This means institutions that encourages companies to that we engage in dialogue with companies support living wages and incomes.

Source fold: abp.nl Investments + APG AR 2025 climate risks. Verify against the live page/PDF before citing beyond this page.

Annex: Additional APG Annual Report folds (strategy, value, results, governance)

Longer folds from the opened APG Groep N.V. Annual Report 2025 English PDF for researchers who need surrounding context. Prefer the Dutch official text if translations conflict.

Our ambitions and strategy 21 Our results in 2025 23 Pension Services 28 Asset Management 40 Our foundation 48 Our governance 49 Corporate governance 52 Our remuneration policy 56 Risk management 74 Sustainability statement 77 Introduction 90 Environment 101 Social 119 Business conduct 127 Report of the Works Council 129 Message from the SB 136 Financial statements 138 Consolidated financial statements 179 Parent company financial statements 192 Other information 194 About this report 8 21 48 74 Annual Report 2025 Foreword About APG Results Governance Sustainability WC SB Financial Statements Disclaimer The Dutch version of the Annual Report APG Groep NV 2025 constitutes the official and legally binding version of the Annual Report.

This English translation is provided for convenience only, and no rights may be derived therefrom. The auditor's report of the external auditor supervising the official Dutch version does not relate to the translation. In the event of any discrepancies or differences in interpretation between the Dutch version and the translation, the Dutch version shall prevail.

The translation was prepared with generative AI tools and subsequently reviewed by APG. 2025 in the picture: ‘The NATO Summit’ In June 2025, world leaders gathered in The Hague for the NATO Summit, the largest security operation ever conducted in the Netherlands.

Together with security partners, the police ensured that the summit took place safely. Annual Report 2025 Foreword About APG Results Governance Sustainability WC SB Financial Statements Foreword Annual Report 2025 Foreword About APG Results Governance Sustainability WC SB Financial Statements For APG, 2025 was a year of action.

We took the first steps in the renewed pension system and demonstrated that we can deliver: technically, organizationally and in close cooperation with our pension fund clients. I look back on this with pride. But 2025 was not only about today and tomorrow. It was also about the long term.

With Strategy 2030, we have set our course towards a future-proof organization. This year, we further elaborated and presented that strategy. At the same time, even in anticipation of this new vision, we made deliberate choices to become more agile in a rapidly changing environment.

Transition: technically strong, sharper communication 2025 was not only a year of planning, but also of execution. From March onwards, we have been administering benefit payments for PPF APG and PWRI under the new pension rules. Thanks to tight governance and close cooperation between APG and the pension funds in 2025, the transition operations for bpfBOUW, SPW and Pensioenfonds Schoonmaak as of 1 January 2026 also progressed according to plan.

The transition of these three pension funds was carefully prepared in 2025 and constituted a solid operation. In total, 1.4 million participants of bpfBOUW, SPW and Pensioenfonds Schoonmaak had to be transferred to the renewed pension system as of 1 January 2026.

This represented a significantly larger transition than that of PPF APG and PWRI, which together serve around 200,000 participants. The experience gained with these two funds proved crucial for the smooth preparation of the transition of bpfBOUW, SPW and Pensioenfonds Schoonmaak.

There were several reasons for this successful frontrunner position. First, starting early with the structural improvement of data quality. We began this four years ago, knowing that a modern pension scheme cannot be run on outdated data. Second, a modular, standardized pension arrangement that limits complexity.

Third, experienced pension professionals and strong partners who analyze and resolve setbacks. As a pioneer, you inevitably encounter challenges. It helps enormously to have enough skilled people who understand their profession and make the difference. A critical look: what could have been better?

Professional craftsmanship grows through a learning mindset. One lesson was that communication with participants proved more complex than expected. The renewed pension system requires clear explanations and tailored communication. Our conclusion: alongside technical expertise, understandable, consistent and timely communication is at least as important.

This is a lesson we take with us. For the pension funds transitioning on 1 January 2027, including our largest client ABP, this means that we will communicate earlier and in a more tailored manner. Clear scenarios, better timing and sharper segmentation by target groups.

We are also Building tomorrow together 5 Annual Report 2025 Foreword About APG Results Governance Sustainability WC SB Financial Statements strengthening the governance role of pension fund boards. We do not only ask for their trust, but also provide greater insight through improved reporting, more transparent input and demonstrable control.

After all, the renewed pension system enhances the steering role of pension funds. This requires something from us. APG must enable board members to fulfil their responsibilities towards supervisors and participants. It is no longer sufficient to say: ‘You can rely on us, it will be fine.’ This shift in roles between pension fund and administrator is fundamental and lasting, and we are adapting accordingly.

Strategy 2030: sustainable, people- focused and market-oriented Looking ahead is just as important as execution. While we are realizing the transition to the renewed pension system, we are also preparing for the world beyond it. Building the APG of tomorrow requires more than technical change alone.

It calls for a clear course and an organization that is ready for the future. That is why we developed Strategy 2030. This strategy is not only about processes and structures, but about all of us. It outlines the direction towards a future-proof organization that can continue to make an impact in the new pension reality.

In the coming years, completing the transition of all pension funds and providing the necessary aftercare will remain APG’s top priority. This work is crucial and demands our unwavering attention. Looking further ahead, our ambition remains to continue providing millions of participants with a good pension, even in a rapidly changing world.

In 2025, geopolitical tensions, economic fluctuations and the rise of AI formed the backdrop to our work. For APG, this means sharpening our understanding of risks and linking investment management and pension administration to long-term consequences. As a long-term investor, we anticipate structural developments rather than daily market movements.

APG thinks along, analyses and advises, always with the awareness that the final decision rests with our clients: the pension funds. The external dynamics require clear choices. We strengthened our risk management, including in the area of cybersecurity. Investment mandates were also adjusted, affecting priorities and our workforce.

These are deliberate steps to remain agile and future-proof. Annette Mosman, Chair of the Executive Board, APG 6 Annual Report 2025 Foreword About APG Results Governance Sustainability WC SB Financial Statements Faster, more efficient and more decisive In the coming years, Strategy 2030 will guide further steps.

We are moving towards a faster, more efficient and more decisive organization. Our clients expect this from us as well. They seek quality at market-conform costs. This course fits the new reality. The strategy has an impact on our organization and our people. We have chosen to communicate openly and transparently about this, including about changes in composition and roles.

This creates uncertainty, and we are honest about that. At the same time, we want to carry out this transformation in a controlled and people- focused manner, with respect for colleagues and with room for dialogue. This is not an afterthought, but a deliberate choice.

We are doing this together, step by s How we create value 17 Our ambitions and strategy 21 Our results in 2025 23 Pension Services 28 Asset Management 40 Our foundation 48 Our governance 49 Corporate governance 52 Our remuneration policy 56 Risk management 74 Sustainability statement 77 Introduction 90 Environment 101 Social 119 Business conduct 127 Report of the Works Council 129 Message from the SB 136 Financial statements 138 Consolidated financial statements 179 Parent company financial statements 192 Other information 194 About this report 8 21 48 74 Annual Report 2025 Foreword About APG Results Governance Sustainability WC SB Financial Statements Disclaimer The Dutch version of the Annual Report APG Groep NV 2025 constitutes the official and legally binding version of the Annual Report.

After all, the renewed pension system enhances the steering role of p meeting their (administrative) obligations and responsibilities and in providing information to their employees. Who we are and what we do 9 Annual Report 2025 Foreword About APG Results Governance Sustainability WC SB Financial Statements About APG > Who we are and what we do Our world today and tomorrow How we create value Our ambitions and strategy Asset management APG also provides asset management services for part of the pension funds we work for, namely ABP, bpfBOUW, SPW and PPF APG.

At the end of 2025, we managed assets of EUR 601 billion on behalf of four pension funds. We do so with a clear objective: to generate the highest possible pension value in a cost-conscious and responsible manner. About two-third of the pension benefits participants receive are derived from investment returns.

That is why we invest with a long-term perspective, within the frameworks set by our client pension funds, and with attention to sustainability, human rights and good governance. Together with the pension funds we serve, APG has developed a fiduciary management model characterized by a clear division of roles within the investment process.

Source fold: APG Groep NV Annual Report 2025 (opened PDF text extract). Verify against the live page/PDF before citing beyond this page.

Annex: Leadership bio & appointment folds

Opened APG Annual Report biography extract and 1 July 2026 CEO appointment release — keep ABP fund chair separate from APG AM CEO.

Other position as of March 24, 2026: • Board member of the Stichting Derdengelden APG René Steenhart (male, 1963, Dutch nationality) René has been Managing Director Business Improvement & Change since May 1, 2020. Prior to joining APG, he held several senior management positions at Rabobank, including Global Head of Operations, Director Operations Lending and Chief Executive Officer of Rabohypotheekbank.

Annual Report 2025 Foreword About APG Results Governance Sustainability WC SB Financial Statements Governance > Corporate governance Our remuneration policy Risk management Executive Board Executive Committee SB 69 Dina Aleman (female, 1960, Dutch nationality) Since April 15, 2022, Dina has been working at APG as Managing Director, with responsibility for strategy, public affairs, corporate communications, legal affairs and board affairs.

Previously Dina held various positions, including roles at PGGM. She spent more than twenty years as a partner in the financial services advisory practice of KPMG. Other positions as of March 24, 2026: • Member of the Enterprise Cham- ber of the Amsterdam Court of Appeal • Editorial Board member, Financial Legal Series • Supervisory Board member at Hyfen B.V.

(term ended in December 2025) Heleen Kuijten-Koenen (female, 1966, Dutch nationality) Heleen has been working at APG since April 1, 2022 as Managing Director People & Change. In this role, she is responsible for the People domain and the organization wide transformation.

She brings extensive experience in HR and change management. Prior to joining APG, she worked for 14 years at Schiphol Group, including eight years as Chief Human Resour- ces Officer (CHRO). Other positions as of March 24, 2026: • Supervisory Board member at BDO Annual Report 2025 Foreword About APG Results Governance Sustainability WC SB Financial Statements Governance > Corporate governance Our remuneration policy Risk management Executive Board Executive Committee SB 70 Members of the Supervisory Board Peter Bommel Chair (male, 1961, Dutch nationality) Relevant other positions as of March 24, 2026: • Supervisory Board member and Audit Committee chair, Flynth Adviseurs • Board member, NOC*NSF • Advisor, Imperial Feet • NL Groeit mentor • Supervisory Board member and Chair Audit Committee, Royal FLoraHolland (per 1-1-2026) First appointed to the Supervisory Board: April 1, 2023, term of office: 4 years.

Sarah Russell Vice-Chair (female, 1962, Australian nationality) Relevant other positions as of March 24, 2026: • Supervisory Board member and vice-chair (and chair of the Audit Committee, chair of the Remuneration and Nominations Committee), The Currency Exchange Fund • Supervisory Board member, chair of the Audit Committee, member of the Risk and Capital Committee, member of the Nominations Committee, ABN AMRO NV • Supervisory Board member, APG Asset Management NV • Chairman of the Supervisory Board of ABN AMRO Clearing Bank N.V.

(per 1-2-2026) First appointed to the Supervisory Board: May 15, 2021, reappointed May 15, 2025. Annual Report 2025 Foreword About APG Results Governance Sustainability WC SB Financial Statements Governance > Corporate governance Our remuneration policy Risk management Executive Board Executive Committee SB 71 Constant Korthout Member (male, 1962, Dutch nationality) Relevant other positions as of March 24, 2026: • Vice-Chair of the Supervisory Board and chair of the Audit Committee, Royal Dutch Touring Club (ANWB) • Supervisory Board member and chair of the Audit Committee, Dijklander Hospital • Supervisory Board member and chair of the Risk Committee, BNG • Supervisory Board member, APG Asset Management NV • Independent non-executive director and member of the Audit Committee, Delen Private Bank • Supervisory Board member and chair of the Audit and Risk Committee, Blauwtrust Groep First appointed to the Supervisory Board: August 1, 2023, term of office: 4 years.

José Meĳer Member (female, 1955, Dutch nationality) Relevant other positions as of March 24, 2026: • Chair of PvdA Weert and surrounding area/Groen Links (political party) • Board member of the Pension Fund for Hairdressers First appointed to the Supervisory Board: September 5, 2020, reappointed September 1, 2024.

Source fold: APG AR 2025 bio extract + apg.nl CEO appointment page. Verify against the live page/PDF before citing beyond this page.

FAQ

What is ABP and what is APG Asset Management?

ABP (Stichting Pensioenfonds ABP) is the Dutch civil-service and education sector pension fund. APG (APG Groep N.V. / APG Asset Management) is the pension administrator and asset manager that, among other mandates, manages investments for ABP. They are separate legal entities: fund figures come from ABP disclosures; asset-management leadership and multi-client AM AUM come from APG.

What is ABP’s latest official available assets figure?

ABP’s Q4 2025 English press release (29 January 2026) reported available capital of €533 billion at year-end 2025 (down from €542 billion at year-end 2024). ABP’s 24 April 2026 annual-report news cited €533.1 billion at end-2025. At 31 March 2026, the Q1 2026 press release reported assets of €530 billion.

What AUM does APG Asset Management report?

APG Groep N.V.’s Annual Report 2025 states that at year-end 2025 APG managed EUR 601 billion on behalf of four pension funds (ABP, bpfBOUW, SPW and PPF APG), versus EUR 616 billion at year-end 2024. Absolute investment return for that managed total was −1.6% in 2025.

Who leads APG Asset Management?

As published on assetmanagement.apg.nl/our-leadership/, Alineke van den Berge is Chief Executive Officer and Chief Operating Officer; Herman Slooijer is CIO Capital Markets; Patrick Kanters is CIO Private Investments; Rianne Lemsom is Chief Fiduciary Officer; Barbara Bakker is Chief Finance & Risk Officer. APG announced van den Berge-Blindenbach’s CEO appointment effective 1 July 2026 after she served as CEO ad interim from March 2026.

Who chairs ABP’s board?

Harmen van Wijnen is Chair of ABP’s Board (Board of Trustees / uitvoerend bestuur chair in ABP communications) and is quoted on ABP’s Q4 2025 and Q1 2026 funding and return releases and the April 2026 annual-report announcement.

What were ABP’s 2025 and Q1 2026 investment returns and funding ratios?

FY 2025 return −1.6% (−€8.5 billion); Q4 2025 +0.2%. Current funding ratio rose to 123.5% at year-end 2025 (from 111.7% at year-end 2024); policy funding ratio 118.3%. In Q1 2026, return −0.5% (−€2.8 billion); current funding ratio 119.1%; policy funding ratio 119.9%; liabilities €445 billion.

When does ABP plan to move to the new Dutch pension scheme?

ABP’s board accepted the social partners’ mandate in 2025 to implement the renewed scheme and plans to transition on 1 January 2027. ABP has stated it wants to move with a funding ratio of at least 110%; Q1 2026 current funding of 119.1% was described as high enough at that time.

What climate targets has ABP published?

On its English Investments pages, ABP summarises Climate Policy goals including a Paris-aligned portfolio, net-zero greenhouse-gas emissions by 2050, 50% less greenhouse-gas emissions in 2030 versus 2019, and €30 billion invested in the climate transition by 2030 of which €10 billion in impact investments.

Is APG Asset Management becoming ABP-only?

Yes, as published: APG’s renewed strategy and the 1 July 2026 CEO appointment state that APG Asset Management will focus exclusively on managing pension assets for ABP from 2030 onwards, building an integrated investment chain with ABP.

Why does this profile use Organization and GovernmentOrganization?

ABP is the Netherlands’ major public-sector (government and education) pension fund. This UAO profile models Organization + GovernmentOrganization for the registry entity, with sameAs limited to official abp.nl / apg.nl / assetmanagement.apg.nl URLs, while keeping ABP fund vs APG manager roles distinct in the prose.

Does this profile invent AUM or seats?

No. Assets, liabilities, funding ratios, returns, pension increases, APG AM AUM, and leadership titles are taken from dated ABP press/annual-report pages and APG’s Annual Report 2025 / leadership / appointment pages. Private emails and phone directories are omitted.

Where should corrections be sent?

Corrections: info@universalassetowners.com. Prefer official ABP/APG primaries over secondary press when figures conflict. Any UAO Influence Index is an editorial composite for navigation — not a credit rating or official ABP/APG metric.

Sources & further reading

ABP Quarterly Report Q4 2025 (English press)
ABP Quarterly Report Q1 2026 (English press)
ABP jaarverslag 2025 announcement (24 Apr 2026)
ABP Investments (English)
ABP klimaatverandering
APG Groep N.V. Annual Report 2025 (PDF)
Alineke van den Berge-Blindenbach CEO appointment
APG Asset Management — Our leadership
abp.nl · apg.nl · assetmanagement.apg.nl
Secondary press used only as discovery pointers — figures above taken from primaries.

Official video

Official ABP video on responsible investing / why pension assets are invested (from ABP’s responsible-investing video page; YouTube channel user/abppensioen).

Completeness note

Target ~10k sourced words from opened ABP quarterly/annual materials, Investments/climate pages, APG Annual Report 2025, leadership and CEO appointment pages. Non-blocking expansions: full ABP Dutch annual-report PDF tables (asset-class multi-year), live exclusion-list snapshot dates, detailed voting statistics, and named ABP trustee full roster from organisation pages when URL-stable. No filler AUM/seats invented; private phones/emails omitted.