##### Table of Contents

As filed with the Securities and Exchange Commission on March 30, 2017







UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



Form 20-F



(Mark One)

|☐ | REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | ------------------------------------------------------------------------------------------------

or

|☒ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | ------------------------------------------------------------------------------------

For the fiscal year ended December 31, 2016

or

|☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | ----------------------------------------------------------------------------------------

For the transition period from [] to
[]

or

|☐ | SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | -------------------------------------------------------------------------------------------

Date of event requiring this shell company report

For
the transition period from [] to
[]

Commission file number: 001-35053



InterXion
Holding N.V.

(Exact name of registrant as specified in its charter)





The Netherlands

(Jurisdiction of incorporation or organization)

Tupolevlaan 24

1119 NX
Schiphol-Rijk

The Netherlands

+31 20 880 7600

(Name,
Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)



Securities
registered or to be registered pursuant to Section 12(b) of the Act:

|                                                    |  |                                          
|--------------------------------------------------- |  | -----------------------------------------
|Title of Each Class                                 |  | Name of Each Exchange on Which
Registered
|Ordinary shares, with a nominal value of 0.10 each |  | New York Stock Exchange                  

Securities registered or to be registered pursuant to Section 12(g) of the Act:

None

(Title of Class)

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:

None

(Title of Class)



Indicate the
number of outstanding shares of each of the issuers classes of capital or common stock as of the close of the period covered by the annual report:

70,602,543 ordinary shares

Indicate by check mark
if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act:    Yes  ☒    No  ☐

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934.    Yes  ☐    No  ☒

NoteChecking the
box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from their obligations under those Sections.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90
days.    Yes  ☒    No  ☐

Indicate by check mark whether the registrant has
submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter)
during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  ☐    No  ☒

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated
filer. See definition of accelerated filer and large accelerated filer in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated
filer  ☒                Accelerated
filer  ☐                Non-accelerated filer  ☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

|             |  |                                                                                                          |  |         
|------------ |  | -------------------------------------------------------------------------------------------------------- |  | --------
|U.S. GAAP  ☐ |  | International Financial Reporting Standards as issued
by the International Accounting Standards Board  ☒ |  | Other  ☐

If Other has been checked in response to the previous question, indicate by check mark which financial statement
item the registrant has elected to follow:    Item 17  ☐    Item 18  ☐

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2
of the Exchange Act).    Yes  ☐    No  ☒

(APPLICABLE ONLY TO
ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)

Indicate by check mark whether the registrant has filed all documents and reports
required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a
court.    Yes  ☐    No  ☐







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Introduction

Presentation of Financial Information

Unless otherwise indicated, the financial information in this annual report has been prepared in accordance with International Financial
Reporting Standards, or IFRS, as issued by the International Accounting Standards Board. The significant IFRS accounting policies applied to our financial information in this annual report have been applied consistently.

Financial Information

The financial
information included in Financial Statements is covered by the auditors report included therein. The audit was carried out in accordance with standards issued by the Public Company Accounting Oversight Board (United States).

Non-IFRS Financial Measures

Included in this annual report are certain non-IFRS financial measures, which are measures of our
financial performance that are not calculated and presented in accordance with IFRS, within the meaning of applicable SEC rules. These measures are as follows: (i) EBITDA; (ii) Adjusted EBITDA and (iii) Recurring Revenue.

Other companies may present EBITDA, Adjusted EBITDA, and Recurring Revenue differently than we do. Each of these measures are not measures of
financial performance under IFRS and should not be considered as an alternative to operating income or as a measure of liquidity or as an alternative to Profit for the period attributable to shareholders (net income) or as indicators of
our operating performance or any other measure of performance implemented in accordance with IFRS.

We define EBITDA as net income plus
income tax expense, net finance expense, depreciation, amortization and impairment of assets.

We define Adjusted EBITDA as EBITDA
adjusted for the following items, which may occur in any period, and which management believes are not representative of our operating performance:



| |  |  | Share-based payments  primarily the fair value at the date of grant to employees of equity awards, which are recognized as an employee expense over the vesting period. We believe that this expense does not
represent our operating performance.
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | Income or expense related to the evaluation and execution of potential mergers or acquisitions (M&A)  under IFRS, gains and losses associated with M&A activity are recognized in the period in
which such gains or losses are incurred. We exclude these effects because we believe they are not reflective of our on-going operating performance.
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | Adjustments related to terminated and unused data center sites  these gains and losses relate to historical leases entered into for certain brownfield sites, with the intention of developing data centers, which
were never developed and which management has no intention of developing into data centers. We believe the impact of gains and losses related to unused data centers are not reflective of our business activities and our
on-going operating performance.
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

In certain circumstances, we may also adjust for
other items that management believes are not representative of our current on-going performance. Examples include: adjustments for the cumulative effect of a change in accounting principle or estimate,
impairment losses, litigation gains and losses or windfall gains and losses.

For a reconciliation of EBITDA and Adjusted EBITDA to
Operating income and Net income, see Operating and Financial Review and ProspectsResults of operations and Operating and Financial Review and ProspectsResults of operationsEBITDA and Adjusted EBITDA. EBITDA,
Adjusted EBITDA and other key performance indicators may not be indicative of our historical results of operations, nor are they meant to be predictive of future results.

We define Recurring Revenue as revenue incurred monthly from colocation, connectivity and associated power charges, office space, amortized set-up fees and certain recurring managed services (but excluding any ad hoc managed services) provided by us directly or through third parties, excluding rents received for the sublease of unused sites.



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Additional Key Performance Indicators

In addition to EBITDA, Adjusted EBITDA and Recurring Revenue, our management also uses the following key performance indicators as measures to
evaluate our performance:



| |  |  | Equipped Space: the amount of data center space that, on the relevant date, is equipped and either sold or could be sold, without making any significant additional investments to common infrastructure. Equipped Space at
a particular data center may decrease if either (a) the power requirements of customers at a data center change so that all or a portion of the remaining space can no longer be sold because the space does not have enough power capacity and/or
common infrastructure to support it without further investment or (b) if the design and layout of a data center changes to meet among others, fire regulations or customer requirements, and necessitates the introduction of common space (such as
corridors), which cannot be sold to individual customers;
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | Revenue Generating Space: the amount of Equipped Space that is under contract and billed on the relevant date;
| | - |  | --------------------------------------------------------------------------------------------------------------



| |  |  | Maximum Equippable Space: the maximum amount of space in our data centers which is designed to be used and sold as Equipped Space;
| | - |  | ----------------------------------------------------------------------------------------------------------------------------------



| |  |  | Utilization Rate: on the relevant date, Revenue Generating Space as a percentage of Equipped Space. Some Equipped Space is not fully utilized because of customers specific requirements regarding the layout of
their equipment. In practice, therefore, Utilization Rate does not reach 100%;
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | Recurring Revenue Percentage: Recurring Revenue during the relevant period as a percentage of total revenue in the same period;
| | - |  | -------------------------------------------------------------------------------------------------------------------------------



| |  |  | Monthly Recurring Revenue: the contracted Recurring Revenue over a full month excluding energy usage revenues, amortized set-up fees and the
sub-leasing of office space; and
| | - |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | Average Monthly Churn: the average of the Churn Percentage in each month of the relevant period. Churn Percentage is the contracted Monthly Recurring Revenue that came to an end during a month as a percentage of the
total contracted Monthly Recurring Revenue at the beginning of that month.
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

EBITDA, Adjusted EBITDA and Recurring Revenue
are all non-IFRS measures. Together with the other key performance indicators listed above, EBITDA, Adjusted EBITDA and Recurring Revenue provide useful supplemental information to investors regarding our on-going operational performance. These measures help us and our investors evaluate the on-going operating performance of the business after removing the impact of our capital
structure (primarily interest expense) and our asset base (primarily depreciation and amortization). Management believes that the presentation of Adjusted EBITDA, when combined with the primary IFRS presentation of net income, provides a more
complete analysis of our operating performance. Management also believes the use of EBITDA and Adjusted EBITDA facilitates comparisons between us and other data center operators (including other data center operators that are REITs) and other
infrastructure based businesses. EBITDA and Adjusted EBITDA are also relevant measures used in the financial covenants of our 100.0 million revolving credit facility and our 6.00% Senior Secured Notes due 2020.

EBITDA, Adjusted EBITDA, Recurring Revenue and our other key performance indicators listed above may not be indicative of our historical
results of operations, nor are they meant to be predictive of future results.

Currency Presentation and Convenience Translations

Unless otherwise indicated, all references in this annual report to euro or  are to the currency introduced at
the start of the third stage of the European Economic and Monetary Union pursuant to the Treaty establishing the European Community, as amended. All references to dollars, $, U.S. $ or U.S. dollars are
to the lawful currency of the United States. We prepare our financial statements in euro.

Solely for convenience, this annual report
contains translation of certain euro amounts into U.S. dollars based on the noon buying rate of 1.00 to U.S. $1.0552 in The City of New York for cable transfers of euro as certified for customs purposes by the Federal Reserve Bank of New York
as of December 31, 2016. These translation rates should not be construed as representations that the euro amounts have been, could have been or could be converted into U.S. dollars at that or any other rate. See Exchange Rate
Information.



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Metric Convenience Conversion

This annual report contains certain metric measurements and for your convenience, we provide the conversion of metric units into U.S. customary
units. The standard conversion relevant for this annual report is approximately 1 meter = 3.281 feet and 1 square meter = 10.764 square feet.

Rounding

Certain financial data in this annual report, including financial, statistical and operating information have been subject to rounding
adjustment. Accordingly, in certain instances, the sum of the numbers in a column or a row in tables contained in this annual report may not conform exactly to the total figure given for that column or row. Percentages in tables have been rounded
and accordingly may not add up to 100%.

No Incorporation of Website Information

The contents of our website do not form part of this annual report.

Terminology

The terms the
Group, we, our and us refer to InterXion Holding N.V. (the Company) and its subsidiaries, as the context requires.

MARKET, ECONOMIC AND INDUSTRY DATA

Information regarding markets, market size, market share, market position, growth rates and other industry data pertaining to our business
contained in this annual report consists of estimates based on data and reports compiled by professional organizations and analysts, on data from other external sources, and on our knowledge of our sales and markets. Since, in many cases, there is
no readily available external information (whether from trade associations, government bodies or other organizations) to validate market-related analyses and estimates, we rely on internally developed estimates. While we have compiled, extracted and
reproduced market or other industry data from external sources which we believe to be reliable, including third parties or industry or general publications, we have not independently verified that data. Similarly, our internal estimates have not
been verified by any independent sources.



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Forward-Looking Statements

This annual report on Form 20-F contains forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to all statements other than statements of historical fact regarding our business, financial condition, results of operations
and certain of our plans, objectives, assumptions, projections, expectations or beliefs with respect to these items and statements regarding other future events or prospects. These statements include, without limitation, those concerning: our
strategy and our ability to achieve it; expectations regarding sales, profitability and growth; plans for the construction of new data centers; our ability to integrate new acquisitions; our possible or assumed future results of operations; research
and development, capital expenditure and investment plans; adequacy of capital; and financing plans. The words aim, may, will, expect, anticipate, believe, future,
continue, help, estimate, plan, schedule, intend, should, shall or the negative or other variations thereof, as well as other statements regarding
matters that are not historical fact, are or may constitute forward-looking statements.

In addition, this annual report includes
forward-looking statements relating to our potential exposure to various types of market risks, such as foreign exchange rate risk, interest rate risks and other risks related to financial assets and liabilities. We have based these forward-looking
statements on our managements current view of future events and financial performance. These views reflect the best judgment of our management but involve a number of risks and uncertainties which could cause actual results to differ
materially from those predicted in our forward-looking statements and from past results, performance or achievements. Although we believe that the estimates reflected in the forward-looking statements are reasonable, those estimates may prove to be
incorrect. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and
developments to differ materially from these expressed or implied by these forward-looking statements. These factors include, among other things:



| |  |  | operating expenses cannot be easily reduced in the short term;
| | - |  | --------------------------------------------------------------



| |  |  | inability to utilize the capacity of newly planned or acquired data centers and data center expansions;
| | - |  | -------------------------------------------------------------------------------------------------------



| |  |  | significant competition;
| | - |  | ------------------------



| |  |  | cost and supply of electrical power;
| | - |  | ------------------------------------



| |  |  | data center industry over-capacity; and
| | - |  | ---------------------------------------



| |  |  | performance under service level agreements.
| | - |  | -------------------------------------------

These and other risks described under Risk
Factors are not exhaustive. Other sections of this annual report describe additional factors that could adversely affect our business, financial condition or results of operations. For a more complete discussion of the factors that could
affect out future performance and the industry in which we operate, we urge you to read the sections of this annual report entitled Item 3 Key InformationRisk Factors, Item 4 Information on the Company and Item 5
Operating and Financial Review and Prospects. In addition, new risk factors may emerge from time to time, and it is not possible for us to predict all such risk factors, nor can we assess the impact of all such risk factors to differ
materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results.

All forward-looking statements included in this annual report are based on information available to us at the date of this annual report. We
undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law. All subsequent written and oral forward-looking
statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained throughout this annual report.



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TABLE OF CONTENTS



|                                                                                       |  |      |     | 
|-------------------------------------------------------------------------------------- |  | ---- | --- | 
|                                                                                       |  | Page |    
|                                                                                       | 
|PART I                                                                                 |  |      |     | 
|                                                                                       | 
|ITEM 1: IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND
ADVISORS                          |  |      | 7   | 
|                                                                                       | 
|ITEM 2: OFFER STATISTICS AND EXPECTED TIMETABLE                                        |  |      | 8   | 
|                                                                                       | 
|ITEM 3: KEY INFORMATION                                                                |  |      | 9   | 
|                                                                                       | 
|ITEM 4: INFORMATION ON THE COMPANY                                                     |  |      | 31  | 
|                                                                                       | 
|ITEM 4A: UNRESOLVED STAFF COMMENTS                                                     |  |      | 41  | 
|                                                                                       | 
|ITEM 5: OPERATING AND FINANCIAL REVIEW AND PROSPECTS                                   |  |      | 42  | 
|                                                                                       | 
|ITEM 6: DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES                                     |  |      | 63  | 
|                                                                                       | 
|ITEM 7: MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS                              |  |      | 72  | 
|                                                                                       | 
|ITEM 8: FINANCIAL INFORMATION                                                          |  |      | 75  | 
|                                                                                       | 
|ITEM 9: THE OFFER AND LISTING                                                          |  |      | 76  | 
|                                                                                       | 
|ITEM 10: ADDITIONAL INFORMATION                                                        |  |      | 78  | 
|                                                                                       | 
|ITEM 11: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK                    |  |      | 94  | 
|                                                                                       | 
|ITEM 12: DESCRIPTION OF SECURITIES OTHER THAN EQUITY
SECURITIES                        |  |      | 95  | 
|                                                                                       | 
|PART II                                                                                |  |      |     | 
|                                                                                       | 
|ITEM 13: DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES                               |  |      | 96  | 
|                                                                                       | 
|ITEM 
14: MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS |  |      | 97  | 
|                                                                                       | 
|ITEM 15: CONTROLS AND PROCEDURES                                                       |  |      | 98  | 
|                                                                                       | 
|ITEM 16A: AUDIT COMMITTEE FINANCIAL EXPERT                                             |  |      | 99  | 
|                                                                                       | 
|ITEM 16B: CODE OF ETHICS                                                               |  |      | 100 | 
|                                                                                       | 
|ITEM 16C: PRINCIPAL ACCOUNTANT FEES AND SERVICES                                       |  |      | 101 | 
|                                                                                       | 
|ITEM 16D: EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT
COMMITTEES                   |  |      | 102 | 
|                                                                                       | 
|ITEM 
16E: PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS      |  |      | 103 | 
|                                                                                       | 
|ITEM 16F: CHANGE IN REGISTRANTS CERTIFYING
ACCOUNTANT                                 |  |      | 104 | 
|                                                                                       | 
|ITEM 16G: CORPORATE GOVERNANCE                                                         |  |      | 105 | 
|                                                                                       | 
|ITEM 16H: MINE SAFETY DISCLOSURE                                                       |  |      | 106 | 
|                                                                                       | 
|PART III                                                                               |  |      |     | 
|                                                                                       | 
|ITEM 17: FINANCIAL STATEMENTS                                                          |  |      | 107 | 
|                                                                                       | 
|ITEM 18: FINANCIAL STATEMENTS                                                          |  |      | 108 | 
|                                                                                       | 
|ITEM 19: EXHIBITS                                                                      |  |      | 109 | 



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##### Table of Contents

PART I

ITEM 1: IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS

For the identity of Directors and Senior Management reference is made to Item 6: Directors, Senior Management and Employees.
Identification of Advisors is not applicable for this Form 20-F.



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ITEM 2: OFFER STATISTICS AND EXPECTED TIMETABLE

Not applicable.



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ITEM 3: KEY INFORMATION

Selected Historical Consolidated Financial Data

The following selected financial data as of and for the years ended December 31, 2016, 2015 and 2014 have been derived from our audited
consolidated financial statements, which are included elsewhere in this annual report. The selected financial data as of and for the years ended December 31, 2013 and December 31, 2012 have been derived from our audited consolidated
financial statements not included in this annual report. Our audited consolidated financial statements included in this annual report have been prepared and presented in accordance with IFRS as issued by the International Accounting Standards Board
and have been audited by KPMG Accountants N.V., an independent registered public accounting firm.

You should read the selected financial
data in conjunction with our consolidated financial statements and related notes and Item 5 Operating and Financial Review and Prospects included elsewhere in this annual report. Our historical results do not necessarily indicate
our expected results for any future periods.



|                                                                    |  |                                                                          |          |   |                                                                    |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |          |  
|------------------------------------------------------------------- |  | ------------------------------------------------------------------------ | -------- | - | ------------------------------------------------------------------ |  | -------- | ---- |  |  | -------- | - |  | ---- | -------- | - | ---- |  | -------- | - |  |  | -------- | -
|                                                                    |  | Year ended December 31,                                                  |          |   | Year ended December 31,                                            | 
|                                                                    |  | 2016(1)                                                                  |          |   | 2016                                                               |  |          | 2015 |  |  | 2014     |   |  | 2013 |          |   | 2012 | 
|                                                                    |  | (U.S. $000, except per
share amounts and
number of shares in
thousands) |          |   | (000, except per share amounts and number ofshares in thousands) | 
|Income statement data                                               |  |                                                                          |          |   |                                                                    |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |          |  
|Revenue                                                             |  |                                                                          | 445,071  |   |                                                                    |  | 421,788  |      |  |  | 386,560  |   |  |      | 340,624  |   |      |  | 307,111  |   |  |  | 277,121  |  
|Cost of sales                                                       |  |                                                                          | (171,542 | ) |                                                                    |  | (162,568 | )    |  |  | (151,613 | ) |  |      | (139,075 | ) |      |  | (124,141 | ) |  |  | (113,082 | )
|                                                                    |  |                                                                          |          |   |                                                                    |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |          |  
|Gross profit                                                        |  |                                                                          | 273,529  |   |                                                                    |  | 259,220  |      |  |  | 234,947  |   |  |      | 201,549  |   |      |  | 182,970  |   |  |  | 164,039  |  
|Other income                                                        |  |                                                                          | 351      |   |                                                                    |  | 333      |      |  |  | 21,288   |   |  |      | 271      |   |      |  | 341      |   |  |  | 463      |  
|Sales and marketing costs                                           |  |                                                                          | (31,594  | ) |                                                                    |  | (29,941  | )    |  |  | (28,217  | ) |  |      | (24,551  | ) |      |  | (22,818  | ) |  |  | (20,100  | )
|General and administrative costs                                    |  |                                                                          | (144,573 | ) |                                                                    |  | (137,010 | )    |  |  | (132,505 | ) |  |      | (98,884  | ) |      |  | (90,134  | ) |  |  | (79,243  | )
|                                                                    |  |                                                                          |          |   |                                                                    |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |          |  
|Operating income                                                    |  |                                                                          | 97,713   |   |                                                                    |  | 92,602   |      |  |  | 95,513   |   |  |      | 78,385   |   |      |  | 70,359   |   |  |  | 65,159   |  
|Net finance expense                                                 |  |                                                                          | (38,271  | ) |                                                                    |  | (36,269  | )    |  |  | (29,022  | ) |  |      | (27,876  | ) |      |  | (57,453  | ) |  |  | (17,746  | )
|                                                                    |  |                                                                          |          |   |                                                                    |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |          |  
|Profit before taxation                                              |  |                                                                          | 59,442   |   |                                                                    |  | 56,333   |      |  |  | 66,491   |   |  |      | 50,509   |   |      |  | 12,906   |   |  |  | 47,413   |  
|Income tax (expense)/income                                         |  |                                                                          | (17,358  | ) |                                                                    |  | (16,450  | )    |  |  | (17,925  | ) |  |      | (15,449  | ) |      |  | (6,082   | ) |  |  | (15,782  | )
|                                                                    |  |                                                                          |          |   |                                                                    |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |          |  
|Net income                                                          |  |                                                                          | 42,084   |   |                                                                    |  | 39,883   |      |  |  | 48,566   |   |  |      | 35,060   |   |      |  | 6,824    |   |  |  | 31,631   |  
|                                                                    |  |                                                                          |          |   |                                                                    |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |          |  
|Basic earnings per share                                            |  |                                                                          | 0.60     |   |                                                                    |  | 0.57     |      |  |  | 0.70     |   |  |      | 0.51     |   |      |  | 0.10     |   |  |  | 0.47     |  
|                                                                    |  |                                                                          |          |   |                                                                    |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |          |  
|Diluted earnings per share:                                         |  |                                                                          | 0.59     |   |                                                                    |  | 0.56     |      |  |  | 0.69     |   |  |      | 0.50     |   |      |  | 0.10     |   |  |  | 0.46     |  
|                                                                    |  |                                                                          |          |   |                                                                    |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |          |  
|Number of shares(2)                                                 |  |                                                                          | 70,603   |   |                                                                    |  | 70,603   |      |  |  | 69,919   |   |  |      | 69,317   |   |      |  | 68,867   |   |  |  | 68,176   |  
|                                                                    |  |                                                                          |          |   |                                                                    |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |          |  
|Weighted average number of shares for Basic earnings per share(3)   |  |                                                                          | 70,349   |   |                                                                    |  | 70,349   |      |  |  | 69,579   |   |  |      | 69,048   |   |      |  | 68,584   |   |  |  | 67,309   |  
|                                                                    |  |                                                                          |          |   |                                                                    |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |          |  
|Weighted average number of shares for Diluted earnings per share(3) |  |                                                                          | 71,215   |   |                                                                    |  | 71,215   |      |  |  | 70,499   |   |  |      | 69,922   |   |      |  | 69,345   |   |  |  | 68,262   |  
|                                                                    |  |                                                                          |          |   |                                                                    |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |          |  



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|                                                   |  |                         |          |   |                         |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |          |  
|-------------------------------------------------- |  | ----------------------- | -------- | - | ----------------------- |  | -------- | ---- |  |  | -------- | - |  | ---- | -------- | - | ---- |  | -------- | - |  |  | -------- | -
|                                                   |  | Year ended December 31, |          |   | Year ended December 31, | 
|                                                   |  | 2016(1)                 |          |   | 2016                    |  |          | 2015 |  |  | 2014     |   |  | 2013 |          |   | 2012 | 
|                                                   |  | (U.S. $000)            |          |   | (000)                 | 
|Cash flow statement data                           |  |                         |          |   |                         |  |          |      |  |  |          |   |  |      |          |   |      |  |          |   |  |  |          |  
|Net cash flows from/(used in) operating activities |  |                         | 147,092  |   |                         |  | 139,397  |      |  |  | 127,070  |   |  |      | 104,418  |   |      |  | 72,563   |   |  |  | 89,082   |  
|Net cash flows from/(used in) investing activities |  |                         | (265,277 | ) |                         |  | (251,400 | )    |  |  | (187,505 | ) |  |      | (219,135 | ) |      |  | (142,459 | ) |  |  | (179,305 | )
|Net cash flows from/(used in) financing activities |  |                         | 183,562  |   |                         |  | 173,959  |      |  |  | 18,190   |   |  |      | 167,628  |   |      |  | 47,911   |   |  |  | 15,883   |  
|Capital expenditure including intangibles(4)       |  |                         | (264,726 | ) |                         |  | (250,878 | )    |  |  | (192,636 | ) |  |      | (216,277 | ) |      |  | (143,381 | ) |  |  | (178,331 | )



|                                           |  |                         |           |  |                         |  |           |      |  |  |           |  |  |      |           |  |      |  |         |  |  |  |         | 
|------------------------------------------ |  | ----------------------- | --------- |  | ----------------------- |  | --------- | ---- |  |  | --------- |  |  | ---- | --------- |  | ---- |  | ------- |  |  |  | ------- | 
|                                           |  | Year ended December 31, |           |  | Year ended December 31, | 
|                                           |  | 2016(1)                 |           |  | 2016                    |  |           | 2015 |  |  | 2014      |  |  | 2013 |           |  | 2012 | 
|                                           |  | (U.S. $000)            |           |  | (000)                 | 
|Balance sheet data                         |  |                         |           |  |                         |  |           |      |  |  |           |  |  |      |           |  |      |  |         |  |  |  |         | 
|Trade and other currect assets             |  |                         | 155,981   |  |                         |  | 147,821   |      |  |  | 141,936   |  |  |      | 122,814   |  |      |  | 97,105  |  |  |  | 75,256  | 
|Cash and cash equivalents(5)               |  |                         | 122,290   |  |                         |  | 115,893   |      |  |  | 53,686    |  |  |      | 94,637    |  |      |  | 41,612  |  |  |  | 63,692  | 
|                                           |  |                         |           |  |                         |  |           |      |  |  |           |  |  |      |           |  |      |  |         |  |  |  |         | 
|Current assets                             |  |                         | 278,271   |  |                         |  | 263,714   |      |  |  | 195,622   |  |  |      | 217,451   |  |      |  | 138,717 |  |  |  | 138,948 | 
|Non-current assets                         |  |                         | 1,286,237 |  |                         |  | 1,218,951 |      |  |  | 1,056,442 |  |  |      | 955,652   |  |      |  | 772,058 |  |  |  | 680,276 | 
|                                           |  |                         |           |  |                         |  |           |      |  |  |           |  |  |      |           |  |      |  |         |  |  |  |         | 
|Total assets                               |  |                         | 1,564,508 |  |                         |  | 1,482,665 |      |  |  | 1,252,064 |  |  |      | 1,173,103 |  |      |  | 910,775 |  |  |  | 819,224 | 
|                                           |  |                         |           |  |                         |  |           |      |  |  |           |  |  |      |           |  |      |  |         |  |  |  |         | 
|Current liabilities                        |  |                         | 198,985   |  |                         |  | 188,575   |      |  |  | 171,835   |  |  |      | 175,697   |  |      |  | 140,125 |  |  |  | 134,109 | 
|Non-current liabilities                    |  |                         | 786,462   |  |                         |  | 745,321   |      |  |  | 572,812   |  |  |      | 561,261   |  |      |  | 382,748 |  |  |  | 309,541 | 
|                                           |  |                         |           |  |                         |  |           |      |  |  |           |  |  |      |           |  |      |  |         |  |  |  |         | 
|Total liabilities                          |  |                         | 985,447   |  |                         |  | 933,896   |      |  |  | 744,647   |  |  |      | 736,958   |  |      |  | 522,873 |  |  |  | 443,650 | 
|                                           |  |                         |           |  |                         |  |           |      |  |  |           |  |  |      |           |  |      |  |         |  |  |  |         | 
|Shareholders equity                       |  |                         | 579,061   |  |                         |  | 548,769   |      |  |  | 507,417   |  |  |      | 436,145   |  |      |  | 387,902 |  |  |  | 375,574 | 
|                                           |  |                         |           |  |                         |  |           |      |  |  |           |  |  |      |           |  |      |  |         |  |  |  |         | 
|Total liabilities and shareholders equity |  |                         | 1,564,508 |  |                         |  | 1,482,665 |      |  |  | 1,252,064 |  |  |      | 1,173,103 |  |      |  | 910,775 |  |  |  | 819,224 | 
|                                           |  |                         |           |  |                         |  |           |      |  |  |           |  |  |      |           |  |      |  |         |  |  |  |         | 



Notes:

|(1) | The Income statement data, Cash flow statement data and Balance sheet data as of and for the year ended December 31, 2016 have been translated for convenience only based on the
noon buying rate in The City of New York for cable transfers of euro as certified for customs purposes by the Federal Reserve Bank of New York as of December 31, 2016, for euros into U.S. dollars at 1.00 = U.S. $1.0552. See Exchange
Rate Information for additional information.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(2) | Number of shares is in thousands as of the end of the year.
|--- | -------------------------------------------------------------

|(3) | Weighted average number of shares for Basic earnings per share and Weighted average number of shares for Diluted earnings per share are in thousands.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------

|(4) | Capital expenditure including intangible assets represent payments to acquire property, plant and equipment and intangible assets as recorded on our consolidated statement of cash flows as Purchase of property,
plant and equipment and Purchase of intangible assets respectively.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(5) | Cash and cash equivalents exclude 3.7 million, 4.9 million, 5.3 million, 4.1 million and 5.0 million as of December 31, 2016, December 31, 2015,
December 31, 2014, December 31, 2013, and December 31, 2012, respectively, which is restricted and held as collateral to support the issuance of bank guarantees on behalf of a number of subsidiary companies. Restricted cash is
reported under (non-)current assets.
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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Exchange Rate Information

We publish our financial statements in euros. The conversion of euros into U.S. dollars in this annual report is solely for the convenience of
readers. The exchange rates of euros into U.S. dollars are based on the noon buying rate in The City of New York for cable transfers of euros as certified for customs purposes by the Federal Reserve Bank of New York. Unless otherwise noted, all
translations from euros to U.S. dollars and from U.S. dollars to euros in this annual report were made at a rate of 1.00 to U.S. $ 1.0552, the noon buying rate in effect as of December 31, 2016. We make no representation that any euro or
U.S. dollar amounts could have been, or could be, converted into U.S. dollars or euros, as the case may be, at any particular rate, the rates stated below, or at all.



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The following table sets out information on exchange rates between the euro and the U.S. dollar
for the periods indicated.



|                                    |  |                      |        |  |      |  |        | 
|----------------------------------- |  | -------------------- | ------ |  | ---- |  | ------ | 
|                                    |  | Low                  |        |  | High | 
|                                    |  | (U.S. $ per 1.00)   |       
|Month:                              |  |                      |        |  |      |  |        | 
|September 2016                      |  |                      | 1.1158 |  |      |  | 1.1271 | 
|October 2016                        |  |                      | 1.0866 |  |      |  | 1.1212 | 
|November 2016                       |  |                      | 1.0560 |  |      |  | 1.1121 | 
|December 2016                       |  |                      | 1.0375 |  |      |  | 1.0758 | 
|January 2017                        |  |                      | 1.0416 |  |      |  | 1.0794 | 
|February 2017                       |  |                      | 1.0551 |  |      |  | 1.0802 | 
|March 2017 (through March 24, 2017) |  |                      | 1.0514 |  |      |  | 1.0810 | 
|                                    | 
|                                    |  | Average forPeriod(1) |       
|                                    |  | (U.S. $ per 1.00)   |       
|Year ended December 31,:            |  |                      |        |  |      |  |        | 
|2012                                |  |                      | 1.2909 | 
|2013                                |  |                      | 1.3303 | 
|2014                                |  |                      | 1.3210 | 
|2015                                |  |                      | 1.1032 | 
|2016                                |  |                      | 1.1029 | 



Source:
Federal Reserve Bank of New York

Note:

|(1) | Annual averages are calculated from month-end exchange rates by using the average of the exchange rates on the last day of each month during the year.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------

On March 24, 2017, the noon buying rate was 1.00 to U.S. $1.0806.



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Risk Factors

In addition to the other information contained in this annual report on Form 20-F, you should
carefully consider the following risk factors. If any of the possible events described below occurs, our business, financial condition, results of operations or prospects could be adversely affected. The risks and uncertainties below are those known
to us and that we currently believe may materially affect us.

Risks Related to our Business

We cannot easily reduce our operating expenses in the short term, which could have a material adverse effect on our business in the event
of a slowdown in demand for our services or a decrease in revenue for any reason.

Our operating expenses primarily consist of
personnel, power and property costs. Personnel and property costs cannot be easily reduced in the short term. Therefore, we are unlikely to be able to reduce significantly our expenses in response to a slowdown in demand for our services or any
decrease in revenue. The terms of our leases with landlords for facilities that serve as data centers are typically for a minimum period of 10 to 15 years (excluding our extension options) and do not provide us with an early termination right, while
our colocation contracts with customers are initially typically for only three to five years. As of December 31, 2016, 45% of our Monthly Recurring Revenue was generated by contracts with terms of one year or less remaining. Our personnel costs
are fixed due to our contracts with our employees having set notice periods and local law limitations in relation to the termination of employment contracts. In respect of our power costs, there is a minimum level of power required to keep our data
centers running irrespective of the number of customers using them so our power costs may exceed the amount of revenue derived from power. We could have higher than expected levels of unused capacity in our data centers if, among other things:



| |  |  | our existing customers contracts are not renewed and those customers are not replaced by new customers;
| | - |  | --------------------------------------------------------------------------------------------------------



| |  |  | internet and telecommunications equipment becomes smaller and more compact in the future;
| | - |  | -----------------------------------------------------------------------------------------



| |  |  | there is an unexpected slowdown in demand for our services; or
| | - |  | --------------------------------------------------------------



| |  |  | we are unable to terminate or amend our leases when we have underutilized space at a data center.
| | - |  | -------------------------------------------------------------------------------------------------

If we have higher than expected levels of unused space at a data center at any given time, we may be required to operate a data center at a
loss for a period of time. If we have higher than expected levels of unused capacity in our data centers and we are unable to reduce our expenses accordingly, our business, financial condition and results of operations would be materially adversely
affected.

Our inability to utilize the capacity of newly planned or acquired data centers and data center expansions in line with
our business plan would have a material adverse effect on our business, financial condition and results of operations.

Historically, we have made significant investments in our property, plant and equipment and intangible assets in order to expand our data
center footprint and total Equipped Space as we have grown our business. In the year ended December 31, 2016 we invested 250.9 million in property, plant and equipment (242.0 million) and intangible assets (8.9 million).
In the year ended December 31, 2015 we invested 192.6 million in property, plant and equipment (186.1 million) and intangible assets (6.5 million). Investments in property, plant and equipment includes expansion, upgrade,
maintenance and general administrative IT equipment. Investments in intangible assets include power grid rights and software development.

We expect to continue to invest as we expand our data center footprint and increase our Equipped Space based on demand in our target markets.
Our total annual investment in property, plant and equipment includes maintenance and replacement capital expenditures. Although in any one year the amount of maintenance and replacement capital expenditures may vary, we expect that such expenses
will be between 4% and 6% of total revenue in the long term.

We currently hold title to the AMS3, AMS6, BRU1, CPH2, FRA8, FRA10, MRS1,
PAR3, PAR5, VIE and DUB3 properties. We exercised certain purchase options and agreed to purchase the PAR7 freehold land, on which we own the PAR7 data center, and the AMS7 freehold land and properties. The PAR7 and AMS7 properties are currently
reported as financial leases, and they will be reported as such until the acquisitions are completed.

We also lease space for data
centers and typically begin construction before entering into contractual agreements with customers to utilize our data centers under construction. In some cases, we enter into lease agreements for data centers or begin expansions at our existing
data centers without any pre-existing customer commitments to use the additional space that will be



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created. If we open or acquire a new data center or complete an expansion at an existing data center, we will be required to pay substantial up-front and on-going costs associated with that data center, including leasehold improvements, basic overhead costs and rental payments, regardless of whether or not we have any agreements with customers to utilize those data
centers.

As a result of our expansion plans, we will incur capital expenditures, and as a result, an increase in other operating
expenses, which will negatively impact our cash flow, and depreciation that together will negatively impact our profitability unless and until these new and expanded data centers generate enough revenue to exceed their operating costs and related
capital expenditures. There can be no guarantee that we will be able to sustain or increase our profitability if our planned expansion is not successful or if there is not sufficient customer demand in the future to realize expected returns on these
investments. Any such development would have a material adverse effect on our business, financial condition and results of operations.

If we are unable to expand our existing data centers or locate and secure suitable sites for additional data centers on commercially
acceptable terms our ability to grow our business may be limited.

Our ability to meet the growing needs of our existing customers
and to attract new customers depends on our ability to add capacity by expanding existing data centers or by locating and securing suitable sites for additional data centers that meet our specifications, such as proximity to numerous network service
providers, access to a significant supply of electrical power and the ability to sustain heavy floor loading. We have reached high utilization levels at some of our data centers and therefore any increase in these locations would need to be
accomplished through the lease of additional property that satisfies our requirements. Property meeting our specifications may be scarce in our target markets. If we are unable to identify and enter into leases on commercially acceptable terms on a
timely basis for any reason including due to competition from other companies seeking similar sites who may have greater financial resources than us, or if we are unable to expand our space in our current data centers, our rate of growth may be
substantially impaired.

Our capital expenditures, together with on-going operating expenses and
obligations to service our debt, will be a drain on our cash flow and may decrease our cash balances. The capital markets in the recent past have been and may again become limited for external financing opportunities. Additional debt or equity
financing, especially in the current credit-constrained climate, may not be available when needed or, if available, may not be available on satisfactory terms. Our inability to obtain needed debt and/or equity financing or to generate sufficient
cash from operations may require us to prioritize projects or curtail capital expenditures which could adversely affect our results of operations.

Failure to renew or maintain real estate leases for our existing data centers on commercially acceptable terms, or at all, could harm
our business.

For the leased properties on which our data centers are located, we generally enter into leases for initial minimum
periods of 10 to 15 years (excluding renewal options). Including renewal options, the lease properties are generally secured for terms of 20 to 25 years. The majority of our leases are subject to an annual inflation-linked increase in rent and, on
renewal (or earlier in some cases), the rent we pay may be reset to the current market rate. There is, therefore, a risk that there will be significant rent increases when the rent is reviewed.

Our leases in France, Ireland and the United Kingdom do not contain contractual options to renew or extend those leases, and we have exhausted
or may in the future exhaust such options in other leases. With respect to our operating leases in France, certain landlords may terminate our operating leases following the expiration of the original lease period (being 12 years from the
commencement date), and the other leases in France may be terminated by the landlords at the end of each three-year period upon six months prior notice in the event the respective landlord wishes to carry out construction works to the building. The non-renewal of leases for our existing data center locations, or the renewal of such leases on less favorable terms, is a potentially significant risk to our on-going
operations. We would incur significant costs if we were forced to vacate one of our data centers due to the high costs of relocating our own and our customers equipment, installing the necessary infrastructure in a new data center and, as
required by most of our leases, reinstating the vacated data center to its original state. In addition, if we were forced to vacate a data center, we could lose customers that chose our services based on location. If we fail to renew any of our
leases, or the renewal of any of our leases is on less favorable terms and we fail to increase revenues sufficiently to offset the higher rental costs, this could have a material adverse effect on our business, financial condition and results of
operations.

Our leases may obligate us to make payments beyond our use of the property.

Our leases generally do not give us the right to terminate without penalty. Accordingly, we may incur costs under leases for data center space
that is not or no longer is Revenue Generating Space. Some of our leases do not give us the right to sublet, and even if we have that right, we may not be able to sublet the space on favorable terms or at all. We have incurred moderate costs in
relation to such onerous lease contracts in recent years.



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We may experience unforeseen delays and expenses when fitting out and upgrading data
centers, and the costs could be greater than anticipated.

As we attempt to grow our business, substantial management effort and
financial resources are employed by us in fitting out new, and upgrading existing, data centers. In addition, we periodically upgrade and replace certain equipment at our data centers. We may experience unforeseen delays and expenses in connection
with a particular client project or data center build-out. In addition, unexpected technological changes could affect customer requirements and we may not have built such requirements into our data centers and
may not have budgeted for the financial resources necessary to build out or redesign the space to meet such new requirements. Furthermore, the redesign of existing space is difficult to implement in practice as it normally requires moving existing
customers. Although we have budgeted for expected build-out and equipment expenses, additional expenses in the event of unforeseen delays, cost overruns, unanticipated expenses, regulatory changes, unexpected
technological changes and increases in the price of equipment may negatively affect our business, financial condition and results of operations.

No assurance can be given that we will complete the build-out of new data centers or expansions of
existing data centers within the proposed timeframe and cost parameters or at all. Any such failure could have a material adverse effect on our business, financial condition and results of operations.

We may incur non-cash impairment charges to our assets, in particular to our property, plant and
equipment, which could result in a reduction to our earnings.

In accordance with IFRS, we periodically monitor the remaining net
book values of our investments, intangible assets and our property, plant and equipment (based on cash generating units) for indications of a material change in balance sheet carrying value, particularly indications of any impairments. It is
possible that one or more data centers could begin to under-perform relative to our expectations due to changes in customer requirements or regulatory changes affecting the efficient operation of our data centers which may then also result in a non-cash impairment charge. In addition, capitalized data center development costs may also be subject to impairment due to events or changes in circumstances, such as changing market conditions or any changes in
key assumptions, which result in delaying or terminating a data center development project giving rise to a non-cash impairment charge.

We face significant competition and we may not be able to compete successfully against current and future competitors.

Our market is highly competitive. Most companies operate their own data centers and in many cases continue to invest in data center capacity,
although there is a trend towards outsourcing. We compete against other carrier and cloud-neutral colocation data center service providers, such as Equinix and Telehouse. We also compete with other types of data centers, including carrier-operated
colocation, wholesale and IT outsourcers and managed services provider data centers. The cost, operational risk and inconvenience involved in relocating a customers networking and computing equipment to another data center are significant and
have the effect of protecting a competitors data center from significant levels of customer churn.

Further, the growth of the
European data center market has encouraged new, larger companies to consider entering the market, in particular those from the United States who are active in this sector. This growth and other factors have also led to increasing alliances and
consolidation. For example, as a result of the acquisition of TelecityGroup by Equinix, we may be subject to increased competition and face a shift in the competitive landscape. In addition, many of these companies may have significantly greater
financial, marketing and other resources than we do. Some of our competitors may be willing to, and due to greater financial resources, may be better able to adopt aggressive pricing policies, including the provision of discounted data center
services as an encouragement for customers to utilize their other services. Certain of our competitors may also provide our target customers with additional benefits, including bundled communications services, and may do so in a manner that is more
attractive to potential customers than obtaining space in our data centers.

In addition, corporations that have already invested
substantial resources in in-house data center operations may be reluctant to outsource these services to a third party, or may choose to acquire space within a wholesale providers data center, which
would allow them to manage the equipment themselves. If existing customers were to conclude that they could provide the same service in-house at a lower cost, with greater reliability, with increased security
or for other reasons, they might move such services in-house and we would lose customers and business.



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We may also see increased competition for data center space and customers from wholesale data
center providers, such as large real estate companies. Rather than leasing available space to large single tenants, real estate companies, including certain of our landlords, may decide to convert the space instead to smaller square meter units
designed for multitenant colocation use. In addition to the risk of losing customers to wholesale data center providers, this could also reduce the amount of space available to us for expansion in the future. As a result of such competition, we
could suffer from downward pricing pressure and the loss of customers (and potential customers), which would have a material adverse effect on our business, financial condition and results of operations.

Our services may have a long sales cycle that may materially adversely affect our business, financial condition and results of
operations.

A customers decision to take space in one of our data centers typically involves a significant commitment of
resources by us and by potential customers, who often require internal approvals. In addition, some customers will be reluctant to commit to locating in our data centers until they are confident that the data center has adequate available carrier
connections and network density. As a result, we may have a long sales cycle lasting anywhere from three months for smaller customers to periods in excess of one year for some of our larger customers. Furthermore, we may expend significant time and
resources in pursuing a particular sale or customer that does not result in revenue.

The slowdown in global economies and their delayed
recovery may further impact this long sales cycle by making it extremely difficult for customers to accurately forecast and plan future business activities. This could cause customers to slow spending, or delay decision-making, on our services,
which would delay and lengthen our sales cycle.

Delays due to the length of our sales cycle may have a material adverse effect on our
business, financial condition and results of operations.

Our business is dependent on the adequate supply of electrical power and
could be harmed by prolonged electrical power outages or increases in the cost of power.

The operation of each of our data centers
requires an extremely large amount of power and we are among the largest power consumers in certain cities in which we operate data centers. We cannot be certain that there will be adequate power in all of the locations in which we operate, or
intend to open additional data centers. We attempt to limit exposure to system downtime caused by power outages by using back-up generators and uninterrupted power supply systems; however, we may not be able
to limit our exposure entirely even with these protections in place. We also cannot guarantee that the generators will always provide sufficient power or restore power in time to avoid loss of or damage to our customers and our equipment. Any
loss of services or damage to equipment resulting from a temporary loss of or reduction in power at any of our data centers could harm our customers, reduce customers confidence in our services, impair our ability to attract new customers and
retain existing customers, and result in us incurring financial obligations to our customers as they might be eligible for service credits pursuant to their service level agreements with us. Our customers may also seek damages from us.

In addition, we are susceptible to fluctuations in power costs in all of the locations in which we operate. Clients have two options with
respect to power usage. They can either (i) pay in advance for power usage in plugs (typically included in the total cabinet price), which are contractually defined amounts of power per month, for which the customer must pay in
full, regardless of how much power is actually used; or (ii) pay for their actual power usage in arrears on a metered basis. While we are contractually able to recover power cost increases from our customers, some portion of the increased costs
may not be recovered or recovered in a delayed fashion based on commercial reasons and as a result, may have a negative impact on our results of operations.

Although we have not experienced any power outages that have had a material impact on our financial condition in the past, power outages or
increases in the cost of power to us could have a material adverse effect on our business, financial condition and results of operations.

A general lack of electrical power resources sufficient to meet our customers demands may impair our ability to utilize fully the
available space at our existing data centers or our plans to open new data centers.

In each of our markets, we rely on third
parties to provide a sufficient amount of power for current and future customers. Power and cooling requirements are generally growing on a per customer basis. Some of our customers are increasing and may continue to increase their use of
high-density electrical power equipment, such as blade servers, which can significantly increase the demand for power per customer and cooling requirements for our data centers. Future demand for electrical power and cooling may exceed the designed
electrical power and cooling infrastructure in our data centers. As the electrical power infrastructure is



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typically one of the most important limiting factors in our data centers, our ability to utilize available space fully may be limited. This, as well as any inability to secure sufficient power
resources from third-party providers, could have a negative impact on the effective available capacity of a given data center and limit our ability to grow our business.

The ability to increase the power capacity or power infrastructure of a data center, should we decide to, is dependent on several factors
including, but not limited to, the local utilitys ability and willingness to provide additional power, the length of time required to provide that power and/or whether it is feasible to upgrade the electrical infrastructure and cooling systems
of a data center to deliver additional power to customers.

The availability of sufficient power may also pose a risk to the successful
development of future data centers. In cities where we intend to open new data centers, we may face delays in obtaining sufficient power to operate our data centers. Our ability to secure adequate power sources will depend on several factors,
including whether the local power supply is at or close to its limit, whether new connections for our data center would require the local power company to install a new substation or feeder and whether new connections for our data center would
increase the overall risks of blackouts or power outages in a given geographic area.

If we are unable to utilize fully the physical space
available within our data centers or successfully develop additional data centers or expand existing data centers due to restrictions on available electrical power or cooling, we may be unable to accept new customers or increase the services
provided to existing customers, which may have a material adverse effect on our business, results of operations and financial condition.

A significant percentage of our Monthly Recurring Revenue is generated by contracts with terms of one year or less remaining. If those
contracts are not renewed, or if their pricing terms are negotiated downwards, our business, financial condition and results of operations would be materially adversely affected.

The majority of our initial customer contracts are entered into on a fixed term basis for periods from three to five years, which, unless
terminated in advance, are automatically renewed for subsequent one-year periods. See Item 4 Information on the CompanyCustomer Contracts. As of December 31, 2016, 45% of our
Monthly Recurring Revenue was generated by contracts with terms of one year or less remaining. Consequently, a large part of our customer base could either terminate their contracts with us at relatively short notice, or seek to re-negotiate the pricing of such contracts downwards, which, if either were to occur, would have a material adverse effect on our business, financial condition and results of operations.

Our inability to use all or part of our net deferred tax assets could cause us to pay taxes at an earlier date and in greater amounts
than expected.

As of December 31, 2016, we had 10.7 million of recognized net deferred tax assets and no
unrecognized net deferred tax assets. We cannot assure you that we will generate sufficient profit in the relevant jurisdictions to utilize these deferred tax assets fully or that the tax loss availability will not expire before we have been able to
fully utilize them. In addition, applicable law could change in one or more jurisdictions in which we have deferred tax assets, rendering such assets unusable. Either such event would cause us to pay taxes in greater amounts than would otherwise
occur, which may have a material adverse effect on our results of operations.

Our operating results have fluctuated in the past and
may fluctuate in the future, which may make it difficult to evaluate our business and prospects.

Our operating results have
fluctuated in the past and may continue to fluctuate in the future, due to a variety of factors, which include:



| |  |  | demand for our services;
| | - |  | ------------------------



| |  |  | competition from other data center operators;
| | - |  | ---------------------------------------------



| |  |  | the cost and availability of power;
| | - |  | -----------------------------------



| |  |  | the introduction of new services by us and/or our competitors;
| | - |  | --------------------------------------------------------------



| |  |  | data center expansion by us and/or our competitors;
| | - |  | ---------------------------------------------------



| |  |  | changes in our pricing policies and those of our competitors;
| | - |  | -------------------------------------------------------------



| |  |  | a change in our customer retention rates;
| | - |  | -----------------------------------------



| |  |  | economic conditions affecting the Internet, telecommunications and e-commerce industries; and
| | - |  | ---------------------------------------------------------------------------------------------



| |  |  | changes in general economic conditions.
| | - |  | ---------------------------------------



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Any of the foregoing factors, or other factors discussed elsewhere in this annual report, could
have a material adverse effect on our business, results of operations and financial condition. Although we have experienced growth in revenues during the past three financial years, this growth rate is not necessarily indicative of future operating
results. In addition, a relatively large portion of our expenses cannot be reduced in the short-term, particularly personnel and property costs and part of our power costs, which means that our results of operations are particularly sensitive to
fluctuations in revenues. As such, comparisons to prior reporting periods should not be relied upon as indications of our future performance. In addition, our operating results in one or more future periods may fail to meet the expectations of
securities analysts or investors. If this happens, the market price of our ordinary shares may decline significantly.

We are
dependent on third-party suppliers for equipment, technology and other services.

We contract with third parties for the supply of
equipment (including generators, UPS systems and cabinet equipment) on which we are dependent to operate our business. Poor performance by, or any inability of, our suppliers to provide necessary equipment, products, services and maintenance could
have a negative effect on our reputation and harm our business.

We depend on the on-going
service of our personnel and senior management team and may not be able to attract, train and retain a sufficient number of qualified personnel to maintain and grow our business.

Our success depends upon our ability to attract, retain and motivate highly-skilled employees, including the data center personnel who are
integral to the establishment and running of our data centers, as well as sales and marketing personnel who play a large role in attracting and retaining customers. Due to several factors, including the rapid growth of the Internet, there is
aggressive competition for experienced data center employees. We compete intensely with other companies to recruit and hire from this limited pool. In addition, the training of new employees requires a large amount of our time and resources. If we
cannot attract, train and retain qualified personnel, we may be unable to expand our business in line with our strategy, compete for new customers or retain existing customers, which could cause our business, financial condition and results of
operations to suffer.

Our future performance also depends to a significant degree upon the continued contributions of our senior
management team. The loss of any member of our senior management team could significantly harm us. To the extent that the services of members of our senior management team would be unavailable to us for any reason, we would be required to hire other
personnel to manage and operate our Company. There can be no assurance that we would be able to locate or employ such personnel on acceptable terms or on a timely basis.

Our failure to maintain competitive compensation packages, including equity incentives, may be disruptive to our business. If one or more of
our key personnel resigns from our Company to join or form a competitor, the loss of such personnel and any resulting loss of existing or potential customers to any such competitor could harm our business, financial condition and results of
operations. In addition, we may be unable to prevent the unauthorized disclosure or use of our technical knowledge, practices or procedures by departed personnel.

Disruptions to our physical infrastructure could lead to significant costs, reduce our revenues and harm our business reputation and
financial results.

Our business depends on providing customers with highly reliable and secure services. A number of factors may
disrupt our ability to provide services to our customers, including:



| |  |  | human error;
| | - |  | ------------



| |  |  | power loss;
| | - |  | -----------



| |  |  | physical or electronic security breaches;
| | - |  | -----------------------------------------



| |  |  | terrorist acts;
| | - |  | ---------------



| |  |  | interruptions to the fiber network;
| | - |  | -----------------------------------



| |  |  | hardware and software defects;
| | - |  | ------------------------------



| |  |  | fire, earthquake, flood and other natural disasters;
| | - |  | ----------------------------------------------------



| |  |  | improper maintenance by our landlords; and
| | - |  | ------------------------------------------



| |  |  | sabotage and vandalism.
| | - |  | -----------------------



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The occurrence of any of the foregoing could have a material adverse effect on our business,
results of operations and financial condition. Disruptions at one or more of our data centers, whether or not within our control, could result in service interruptions or significant equipment damage, leading to significant costs and revenue
reductions. See Risks Related to our IndustryTerrorist activity throughout the world and military action to counter terrorism could adversely impact our business.

Our insurance may not be adequate to cover all losses.

The insurance we maintain covers material damage to property, business interruption and third-party liability. This insurance contains
limitations on the total coverage for damage due to catastrophic events, such as flooding or terrorism. In addition, there is an overall cap on our general insurance coverage per data center in any one year. There is, therefore, a risk that if one
or more data centers were damaged, the total amount of the loss would not be recoverable by us.

Also, our insurance policies include
customary exclusions, deductibles and other conditions that could limit our ability to recover losses. In addition, some of our policies are subject to limitations involving co-payments and policy limits that
may not be sufficient to cover losses. If we experience a loss that is uninsured or that exceeds policy limits, or if customers consider that there is a significant risk that such an event will occur, this may negatively affect our reputation,
business, financial condition and results of operations.

Our failure to meet the performance standards under our service level
agreements may subject us to liability to our customers, which could have a material adverse effect on our reputation, business, financial condition or results of operations.

We have service level agreements with substantially all of our customers in which we provide various guarantees regarding our level of service.
Our inability to provide services consistent with these guarantees may lead to large losses for our customers, who consequently may be entitled to service credits for their accounts or to terminate their relationship with us. We have issued service
credits to customers in the past due to our failure to meet service level commitments and we may do so in the future. We cannot be sure that our customers will accept these service credits as compensation in the future. Our failure or inability to
meet a customers expectations or any deficiency in the services we provide to customers could result in a claim against us for substantial damages. Provisions contained in our agreements with customers attempting to limit damages, including
provisions to limit liability for damages, may not be enforceable in all instances or may otherwise fail to protect us for liability damages.

We could be subject to costs, as well as claims, litigation or other potential liability, in connection with risks associated with the
security of our data centers and our Information technology systems. We may also be subject to information technology systems failures, network disruptions and breaches of data security, which could have an adverse effect on our reputation and
material adverse impact on our business.

One of our key service offerings is our high level of physical premises security. Many of
our customers entrust their key strategic IT services and applications to us due, in part, to the level of security we offer. If anyone is able to breach our security, they could physically damage our and our customers equipment and/or
misappropriate either our proprietary information or the information of our customers or cause interruptions or malfunctions in our operations.

There can be no assurance that the security of any of our data centers will not be breached or the equipment and information of our customers
put at risk. Any security breach could have a serious effect on our reputation and could prevent new customers from choosing our services and lead to customers terminating their contracts early and seeking to recover losses suffered, which could
have a material adverse effect on our business, financial condition and results of operations. We may incur significant additional costs to protect against physical premises security breaches or to alleviate problems caused by such breaches.

In addition, we can provide no assurance that our IT system is fully protected against third-party intrusions, viruses, hacker attacks,
information or data theft or other similar threats. The risk of a security breach or disruption, particularly through cyber-attack or cyber intrusion, including by computer hackers, foreign governments and cyber terrorists, has risen as the number,
intensity and sophistication of attempted attacks and intrusions from around the world have increased. Any third-party intrusions, viruses, hacker attacks, information or data theft or similar threats against us and our IT systems may have a
material adverse effect on our business, financial condition and results of operations.



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We face risks relating to foreign currency exchange rate fluctuations.

Our reporting currency for purposes of our financial statements is the euro. We also, however, earn revenues and incur operating costs in non-euro denominated currencies, such as British pounds, Swiss francs, Danish kroner, Swedish kronor and US dollars. We recognize foreign currency gains or losses arising from our operations in the period incurred.
As a result, currency fluctuations between the euro and the non-euro currencies in which we do business will cause us to incur foreign currency translation gains and losses. We cannot predict the effects of
exchange rate fluctuations upon our future operating results because of the number of currencies involved, the variability of currency exposure and the potential volatility of currency exchange rates. We do not currently engage in foreign exchange
hedging transactions to manage the risk of our foreign currency exposure.

The slowdown in global economies and their delayed
recovery may have an impact on our business and financial condition in ways that we cannot currently predict.

The European debt
crisis and slowdown and delayed recovery in the global financial markets could continue to have an adverse effect on our business and our financial condition. If the market conditions continue to remain weak or uncertain, some of our customers may
have difficulty paying us and we may experience increased churn in our customer base. Our sales cycle could also lengthen as customers slow spending, or delay decision-making, on our services, which could adversely affect our revenue growth.
Finally, we could also experience pricing pressure as a result of economic conditions if our competitors lower prices and attempt to lure away our customers.

Additionally, our ability to access the capital markets may be severely restricted at a time when we would like, or need, to do so, which
could have an impact on our ability to pursue additional expansion opportunities and maintain our desired level of revenue growth in the future.

Political uncertainty may impact economic conditions which could adversely affect our liquidity and financial condition.

General economic conditions and the cost and availability of capital may be adversely affected in some or all of the metropolitan areas in
which we provide our services. Political uncertainty in the U.S. and in Europe may adversely affect our ability, and the ability of our customers, to replace or renew maturing liabilities on a timely basis, access capital markets to meet liquidity
and capital expenditure requirements and may result in adverse effects on our business, financial condition and results of operations.

In
addition, we cannot assure you that long-term disruptions in the global economy and tighter credit conditions among, and potential failures or nationalizations of, third party financial institutions as a result of such disruptions will not have an
adverse effect on our lenders and our financial condition and results of operations. If the global economy and financial markets deteriorate or continue to face uncertainty, our business, results of operation, cash flows and financial condition
could be adversely affected.

If we do not have sufficient cash flow to continue or expand our operations and are unable to borrow
additional funds, access our existing lines of credit or raise equity or debt capital, we may need to curtail our development activity and/or to find alternative ways to increase our liquidity. Such alternatives may include, without limitation,
disposing of one or more of our properties possibly on disadvantageous terms or entering into or renewing leases on less favorable terms than we otherwise would.

The United Kingdom invoking the process to withdraw from the European Union could have a negative effect on global economic conditions,
financial markets and our business, which could adversely affect our results of operations.

We operate data centers across a
number of markets in the European Union, including the United Kingdom. On March 29, 2017, the British Prime Minister delivered a notice to the European Council pursuant to Article 50 of the Treaty of the European Union to initiate the formal
process of withdrawal from the European Union. The Article 50 notice started a two-year period for the United Kingdom to negotiate the terms of its exit from the European Union, although this period can be
extended with the unanimous agreement of the European Council. The anticipated exit of the United Kingdom from the European Union has created significant uncertainty about the future relationship between the United Kingdom and the European Union.

This development has had, and may continue to have, a material adverse effect on global economic conditions and the stability of global
financial markets, and could significantly reduce global market liquidity and restrict the ability of key market participants to operate in certain financial markets. Asset valuations, currency exchange rates, and credit ratings may be especially
subject to increased market volatility. Lack of clarity about future laws and regulations as the United Kingdom determines which



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European Union laws to replace or replicate upon withdrawal could depress economic activity and restrict our access to capital in the United Kingdom. If the United Kingdom and the European Union
are unable to negotiate acceptable withdrawal terms, barrier-free access between the United Kingdom and other European Union member states could be diminished or eliminated. This may impact our ability to freely move staff and equipment, and it may
impact the cost associated with cross-border business, for example, by the re-introduction of import duties. Any of these factors could have a material adverse effect on our business, financial condition, and
results of operations.

Acquisitions, business combinations and other transactions present many risks, and we may not realize the
financial or strategic goals that were contemplated at the time of any transaction and such transactions may alter our financial or strategic goals.

We have evaluated, and expect to continue to evaluate, potential strategic combinations and acquisitions and other transactions. We may enter
into transactions like these at any time, or discussions concerning such transactions, which may include combinations with other companies or businesses, acquisitions of us by third parties, including potential strategic and financial acquirers and
acquisitions by us of businesses, products, services or technologies that we believe to be complementary. These potential transactions expose us to several potential risks, including:



| |  |  | the possible disruption of our on-going business and diversion of managements attention by acquisition, transition and integration activities and/or entering into
discussions that do not result in a transaction;
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | our potential inability to successfully pursue or realize some or all of the anticipated revenue opportunities associated with an acquisition or investment;
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility that we may not be able to successfully integrate acquired businesses, or businesses in which we invest, or achieve anticipated operating efficiencies or cost savings;
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility that announced acquisitions or business combinations may not be completed, due to failure to satisfy the conditions to closing or for other reasons;
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the dilution of our existing stockholders as a result of any such transaction that involves the issuance of stock;
| | - |  | ------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility of customer dissatisfaction if we are unable to achieve levels of quality and stability on par with past practices or with respect to any business combination with a new party;
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility that additional capital expenditures may be required or that transaction expenses associated with acquisitions may be higher than anticipated;
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility that required financing to fund the requirements of a transaction may not be available on acceptable terms or at all;
| | - |  | -------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility that governmental approvals under antitrust and competition laws required to complete a transaction may not be obtained on a timely basis or at all, which could, among other things, delay or prevent the
completion of a transaction, or limit the ability to realize the expected financial or strategic benefits of a transaction or have other adverse effects on our current business and operations;
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility of loss or reduction in value of acquired businesses;
| | - |  | ---------------------------------------------------------------------



| |  |  | the possibility that carriers may find it cost-prohibitive or impractical to bring fiber and networks into a new data center;
| | - |  | -----------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility of litigation or other claims in connection with or as a result of a transaction including claims from terminated employees, customers, former or current stockholders or other third parties;
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility of pre-existing undisclosed liabilities, including but not limited to lease or landlord related liability, environmental or asbestos liability, for which insurance
coverage may be insufficient or unavailable; and
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the possibility there will not be sufficient customer demand to realize expected returns on these transactions.
| | - |  | ---------------------------------------------------------------------------------------------------------------

We may pay for future acquisitions by using our existing cash resources (which may limit other potential uses of our cash), incurring
additional debt (which may increase our interest expense, leverage and debt service requirements) and/or issuing shares (which may dilute our existing stockholders and have a negative effect on our earnings per share). The occurrence of any of these
risks could have a material adverse effect on our business, results of operations, financial condition or cash flows.



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We focus on the development of communities of interest within customer segments and the
attraction of magnetic customers. Our failure to attract, grow and retain these communities of interest could harm our business and operating results.

Our ability to maximize revenue growth depends on our ability to develop and grow communities of interest within our target customer segments
such as network providers, cloud and managed service providers, financial services, enterprises and digital media and distribution. Within each community, there are certain customers, which we consider to be magnetic customers as we believe they
make it attractive to other customers to be in our data centers. Our ability to attract magnetic customers to our data centers will depend on a variety of factors, including the presence of multiple carriers, the mix of our offerings, the overall
mix of customers, the presence of other magnetic customers, the data centers operating reliability and security and our ability to effectively market our offerings. We may not be able to attract magnetic customers and therefore may be
unsuccessful in the development of our communities of interest. This may hinder the development, growth and retention of customer communities of interest and adversely affect our business, financial condition and results of operations.

Consolidation may have a negative impact on our business model.

If customers combine businesses, they may require less colocation space, which could lead to churn in our customer base. Competitors in some of
our markets may also consolidate, which can make it more difficult for us to compete. Consolidation of our customers and/or our competitors may present a risk to our business model and have a negative impact on our revenues.

Our operations are highly dependent on the proper functioning of our information technology systems. We are in the process of upgrading
our information technology systems. The failure or unavailability of such systems during or after the upgrade process could result in the loss of existing or potential customers and harm our reputation, business and operating results.

We rely heavily on our information technology and back office systems to conduct our business, including for purposes of providing customer fee
quotes and maintaining accurate customer service and billings records. Difficulties with our systems may interrupt our ability to accept and deliver customer orders and impact our overall financial operations, including our accounts payable,
accounts receivables, general ledger, close processes, internal financial controls, and our ability to otherwise run and track our business. We may need to expend significant attention, time and resources to correct problems or find alternative
sources for performing these functions. As a result of any significant investments in on-going upgrades or any future upgrades or modifications, we may be unable to devote adequate financial and other
resources to remedy any such delay or technical difficulty in an efficient manner.

Any disruption to our information technology and back
office systems, whether caused by upgrade projects or otherwise, may adversely affect our business and operating results.

Substantial indebtedness could adversely affect our financial condition and our ability to operate our business, and we may not be able
to generate sufficient cash flows to meet our debt service obligations.

We have a significant amount of debt and may incur
additional debt to support our growth. As of December 31, 2016, our total indebtedness was approximately 735.5 million, our stockholders equity was 548.8 million and our cash and cash equivalents totaled
115.9 million. Our substantial amount of debt could have important consequences. For example, it could:



| |  |  | make it more difficult for us to satisfy our debt obligations;
| | - |  | --------------------------------------------------------------



| |  |  | restrict us from making strategic acquisitions;
| | - |  | -----------------------------------------------



| |  |  | limit our flexibility in planning for, or reacting to, changes in our business and future business opportunities, thereby placing us at a competitive disadvantage if our competitors are not as highly leveraged;
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | increase our vulnerability to general adverse economic and industry conditions; or
| | - |  | ----------------------------------------------------------------------------------



| |  |  | require us to dedicate a substantial portion of our cash flow from operations to make interest and principal payments on our debt, reducing the availability of our cash flow to fund future capital expenditures, working
capital, execution of our expansion strategy and other general corporate requirements;
| | - |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | limit our ability to borrow additional funds, even when necessary to maintain adequate liquidity, which would also limit our ability to further expand our business; and
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | make us more vulnerable to increases in interest rates because of the variable interest rates on some of our borrowings to the extent we have not entirely hedged such variable rate debt.
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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The occurrence of any of the foregoing factors could have a material adverse effect on our
business, results of operations and financial condition.

We require a significant amount of cash to service our debt, which may
limit available cash to fund working capital and capital expenditures. Our ability to generate sufficient cash depends on many factors beyond our control.

Our ability to make payments on and to refinance our debt, and to fund working capital and capital expenditures, will depend on our future
operating performance and ability to generate sufficient cash. This depends, to some extent, on general economic, financial, competitive, market, legislative, regulatory and other factors, many of which are beyond our control, as well as the other
factors discussed in these Risk Factors.

We cannot assure you that our business will generate sufficient cash flows from
operations or that future debt and equity financing will be available to us in an amount sufficient to enable us to pay our debts when due, including our outstanding 625.0 million 6.00% Senior Secured Notes (the Senior Secured
Notes), borrowings under our 75.0 million senior secured revolving facility (the Senior Secured Revolving Facility), or to fund our other liquidity needs. See Item 5 Operating and Financial Review and
Prospects.

If our future cash flows from operations and other capital resources (including borrowings under our
100.0 million revolving facility (the Revolving Facility)) are insufficient to pay our obligations as they mature or to fund our liquidity needs, we may be forced to:



| |  |  | reduce or delay our business activities and capital expenditures;
| | - |  | -----------------------------------------------------------------



| |  |  | sell assets;
| | - |  | ------------



| |  |  | obtain additional debt or equity capital; or
| | - |  | --------------------------------------------



| |  |  | restructure or refinance all or a portion of our debt, including the Senior Secured Notes, on or before maturity.
| | - |  | -----------------------------------------------------------------------------------------------------------------

We cannot assure you that we would be able to accomplish any of these alternatives on a timely basis or on satisfactory terms, if at all. In
addition, the terms or our debt, including the Revolving Facility, the Senior Secured Revolving Facility and the Senior Secured Notes, limit, and any future debt may limit, our ability to pursue any of these alternatives.

We may need to refinance our outstanding debt

We may need to refinance a portion of our outstanding debt as it matures, such as mortgages with quarterly repayment schedules and the Senior
Secured Notes. Furthermore, if prevailing interest rates or other factors at the time of refinancing result in higher interest rates upon refinancing, then the interest expense relating to that refinanced indebtedness would increase. These risks
could materially adversely affect our financial condition, cash flows and results of operations.

If we increase our indebtedness by
borrowing under the Revolving Facility or incur other new indebtedness, the risks described above would increase.

We are subject to
significant restrictive debt covenants, which limit our operating flexibility.

Our Revolving Facility and the Indenture (as
defined below) governing the Senior Secured Notes contain covenants which impose significant restrictions on the way we and our subsidiaries operate, including but not limited to, restrictions on the ability to:



| |  |  | create certain liens;
| | - |  | ---------------------



| |  |  | incur debt and/or guarantees;
| | - |  | -----------------------------



| |  |  | enter into transactions other than on arms-length basis;
| | - |  | ---------------------------------------------------------



| |  |  | pay dividends or make certain distributions or payments;
| | - |  | --------------------------------------------------------



| |  |  | engage, in relation to the Company, in any business activity or own assets or incur liabilities not authorized by the agreement governing the Revolving Facility (the Revolving Facility Agreement);
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | sell certain kinds of assets;
| | - |  | -----------------------------



| |  |  | impair any security interest on the assets serving as collateral for the Senior Secured Notes;
| | - |  | ----------------------------------------------------------------------------------------------



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| |  |  | enter into any sale and leaseback transactions;
| | - |  | -----------------------------------------------



| |  |  | make certain investments or other types of restricted payments;
| | - |  | ---------------------------------------------------------------



| |  |  | substantially change the nature of the Companys or the Groups business;
| | - |  | -------------------------------------------------------------------------



| |  |  | designate unrestricted subsidiaries; and
| | - |  | ----------------------------------------



| |  |  | effect mergers, consolidations or sale of assets.
| | - |  | -------------------------------------------------

These covenants could limit our ability to
finance our future operations and capital needs and our ability to pursue acquisitions and other business activities that may be in our interest.

Our Revolving Facility also requires us to maintain a specified financial ratio. The restrictive covenants are subject to customary exceptions
including, in relation to the incurrence of additional debt, a consolidated fixed charge ratio (calculated as a ratio of Adjusted EBITDA to consolidated interest expense) to exceed 2.00 to 1.00 on a pro forma basis for the four full fiscal quarters
(taken as one period) for which financial statements are available immediately preceding the incurrence of such debt and, if such debt is senior debt, a consolidated senior leverage ratio (calculated as a ratio of outstanding senior debt of the
Company and its restricted subsidiaries (on a consolidated basis) to pro forma Adjusted EBITDA) to be less than 4.00 to 1.00 on a pro forma basis for the four full fiscal quarters (taken as one period) for which financial statements are available
immediately preceding the incurrence of such debt. The Revolving Facility Agreement also includes a leverage ratio financial covenant (tested on a quarterly basis), which requires total net debt (calculated as a ratio to pro forma EBITDA) not to
exceed a leverage ratio of 4.00 to 1.00. In addition, the Company must ensure, under the Revolving Facility Agreement, that the guarantors represent a certain percentage of Adjusted EBITDA of the Group as a whole and a certain percentage of the
consolidated net assets of the Group as a whole. Our ability to meet these covenants may be affected by events beyond our control and, as a result, we cannot assure you that we will be able to meet the covenants. In the event of a default under our
Revolving Facility, the lenders could terminate their commitments and declare all amounts owed to them to be due and payable. Borrowings under other debt instruments that contain cross acceleration or cross default provisions, including the Senior
Secured Notes, may as a result also be accelerated and become due and payable. We may be unable to pay these debts in such circumstances or to the extent we pay such debts, we may not have sufficient cash to fund our working capital expenditure
needs.

Risks Related to our Industry

The European data center industry has suffered from over-capacity in the past, and a substantial increase in the supply of new data
center capacity and/or a general decrease in demand for data center services could have an adverse impact on industry pricing and profit margins.

The European data center industry has previously suffered from overcapacity. For example, certain Internet-based customers have previously
contracted to use more space than necessary to meet their needs and in the periods following adverse market conditions, the number of Internet-related business failures increased significantly, resulting in high levels of customer churn due to the
termination or non-renewal of contracts.

A substantial increase in the supply of new data center
capacity in the European data center market and/or a general decrease in demand, or in the rate of increase in demand, for data center services could have an adverse impact on industry pricing and profit margins. If there is insufficient customer
demand for data center services, our business, financial condition and operating results would be adversely affected.

If we do not
keep pace with technological changes, evolving industry standards and customer requirements, our competitive position will suffer.

The Internet and telecommunications industries are characterized by rapidly changing technology, evolving industry standards and changing
customer needs. Accordingly, our future success will depend, in part, on our ability to meet the challenge of these changes. Among the most important challenges that we may face are the need to:



| |  |  | continue to develop our strategic and technical expertise;
| | - |  | ----------------------------------------------------------



| |  |  | influence and respond to emerging industry standards and other technological changes;
| | - |  | -------------------------------------------------------------------------------------



| |  |  | enhance our current services; and
| | - |  | ---------------------------------



| |  |  | develop new services that meet changing customer needs.
| | - |  | -------------------------------------------------------



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All of these challenges must be met in a timely and cost-effective manner. Some of our
competitors may have greater financial resources, which would allow them to react better or more quickly to changes than we may be able to. We may not effectively meet these challenges as rapidly as our competitors or at all and our failure to do so
could harm our business.

Terrorist activity throughout the world and military action to counter terrorism could adversely impact
our business.

Due to the high volume of important data that passes through data centers, there is a real risk that terrorists
seeking to damage financial and technological infrastructure view data centers generally, and those in concentrated areas specifically, as potential targets. These factors may increase our costs due to the need to provide enhanced security, which
would have a material adverse effect on our business, financial condition and results of operations if we are unable to pass such costs on to our customers. These circumstances may also adversely affect the ability of companies, including us, to
raise capital. We may not have adequate property and liability insurance to cover terrorist attacks.

In addition, we depend heavily on
the physical infrastructure (particularly as it relates to power) that exists in the markets in which we operate. Any damage to such infrastructure, particularly in the major European markets such as Amsterdam, Frankfurt, London and Paris, where we
derive a substantial amount of our revenue and which are likely to be more prone to terrorist activities, may materially and adversely affect our business.

Our carrier neutral business model depends on the presence of numerous telecommunications carrier networks in our data centers.

The presence of diverse telecommunications carriers fiber networks in our data centers is critical to our ability to retain
and attract new customers. We are not a telecommunications carrier and as such we rely on third parties to provide our non-carrier customers with carrier services. We cannot assure you that the carriers
operating within our data centers will not cease to do so. For example, as a result of strategic decisions or consolidations, some carriers may decide to downsize or terminate connectivity within our data centers, which could have an adverse effect
on our business, financial condition and results of operations.

We may be subject to reputational damage and legal action in
connection with the information disseminated by our customers.

We may face potential direct and indirect liability for claims of
defamation, negligence, copyright, patent or trademark infringement and other claims, as well as reputational damage, based on the nature and content of the materials disseminated from our data centers, including on the grounds of allegations of the
illegality of certain activities carried out by customers through their equipment located in our data centers. For example, lawsuits may be brought against us claiming that content distributed by our customers may be regulated or banned. Our general
liability insurance may not cover any such claim or may not be adequate to protect us against all liability that may be imposed. In addition, on a limited number of occasions in the past, businesses, organizations and individuals have sent
unsolicited commercial emails (spam), which may be viewed as offensive by recipients, from servers hosted at our data centers to a number of people, typically to advertise products or services. We have in the past received, and may in
the future receive, letters from recipients of information transmitted by our customers objecting to spam. Although our contracts with our customers prohibit them from spamming, there can be no assurance that customers will not engage in this
practice, which could subject us to claims for damages, damage our reputation and have a material adverse effect on our business.

Risks Related to
Regulation

Laws and government regulations governing Internet-related services, related communication services and information
technology and electronic commerce, across the European countries in which we operate, continue to evolve and, depending on the evolution of such regulations, may adversely affect our business.

Laws and governmental regulations governing Internet-related services, related communications services and information technology and
electronic commerce continue to evolve. This is true across the various European countries in which we operate. In particular, the laws regarding privacy and those regarding gambling and other activities that certain countries deem illegal are
continuing to evolve.

Changes in laws or regulations (or the interpretation of such laws or regulations) or national or EU policy
affecting our activities and/or those of our customers and competitors, including regulation of prices and interconnection arrangements, regulation of access arrangements to types of infrastructure, regulation of privacy requirements through the
protection of personal data and regulation of activity considered illegal through rules affecting data center and managed service providers could materially adversely affect our results by decreasing revenue, increasing costs or impairing our
ability to offer services.



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We and the industry in which we operate are subject to environmental and health and safety
laws and regulations and may be subject to more stringent efficiency, environmental and health and safety laws and regulations in the future, including with respect to energy consumption and greenhouse gas emissions.

We are subject to various environmental and health and safety laws and regulations, including those relating to the generation, storage,
handling and disposal of hazardous substances and technological equipment, the maintenance of warehouse facilities and the generation and use of electricity. Certain of these laws and regulations are capable of imposing liability for the entire cost
of the investigation and remediation of contaminated sites or buildings containing hazardous materials such as asbestos, without regard to fault or the lawfulness of the activity causing the contamination, on current and former owners and occupiers
of real property and persons who have disposed of or released hazardous substances at any location. Compliance with these laws and regulations could impose substantial on-going compliance costs and operating
restrictions on us.

Hazardous substances or regulated materials of which we are not aware may be present at data centers leased and
operated by us. If any such contaminants are discovered at our data centers, we may be responsible under applicable laws, regulations or leases for any required removal or clean-up or other action at
substantial cost.

Our facilities contain tanks and other containers for the storage of diesel fuel and significant quantities of lead
acid batteries to provide back-up power. We cannot guarantee that our environmental compliance program will be able to prevent leaks or spills in these or other technical installations.

In addition, due to our high levels of energy consumption, we may incur substantial costs purchasing allowances under the CRC Energy
Efficiency Scheme and/or in connection with upgrading our data centers to improve the energy efficiency of our operations. This could have an adverse effect on our business, financial condition and results of operations.

Non-compliance with, or liabilities under, existing or future environmental or health and safety laws
and regulations, including failure to hold requisite permits, or the adoption of more stringent requirements in the future, could result in fines, penalties, third-party claims and other costs that could have a material adverse effect on us.

Our data centers may also be adversely affected by any future application of additional regulation relating to energy usage, for example,
seeking to reduce the power consumption of companies and fees or levies related thereto.

Changes in Dutch or foreign tax laws and
regulations, or interpretations thereof may adversely affect our financial position.

We are a Dutch company with European
subsidiaries and are subject to income tax in The Netherlands and foreign income tax in the countries we conduct operations, including The Netherlands, France, Germany and the UK. Significant judgment is required in determining our worldwide tax
liabilities and obligations. Although we believe that we have adequately assessed and accounted for our potential tax liabilities, and that our tax estimates including our transfer pricing estimates are reasonable, there can be no certainty that
additional taxes will not be due upon an audit of our tax returns or as a result of changes to applicable tax laws and interpretations thereof. In addition, several of the governments in which we conduct operations, including The Netherlands,
France, Germany and the UK, are actively considering changes to their respective taxation regimes, which may impact the recognition and taxation of worldwide income. The nature and timing of any amendments to tax laws of the jurisdictions in which
we operate and the impact on our future tax liabilities cannot be predicted with any certainty, however any such amendments or changes could materially and adversely impact our results of operations and financial position including cash flows.

Laws and government regulations governing the licenses or permits we need across the European countries in which we operate may change,
which can adversely affect our business.

We operate data centers and other facilities in 11 countries and as a result of our
international operations, we are subject to risks related to the differing legal, political, social and regulatory requirements and economic conditions of many jurisdictions. General economic, political, or social conditions in the countries in
which we operate could have an adverse effect on our revenues from operations in those countries. In addition, we may be unable to obtain, renew or retain licenses or permits for our operations, data centers and other facilities for legal,
environmental or regulatory reasons. For example, on October 15, 2015, a French administrative court ruled that local authorities failed to perform a sufficiently extensive study of the potential noise impact that operating the PAR7 data center
could have on local residents and annulled the permit we had previously received on December 13,



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2013. We appealed this ruling and submitted an application for a new permit. We obtained a new permit for our PAR7 data center from the Seine-St-Denis authorities in October 2016. Our inability to obtain, renew or retain licenses or permits for our operations, data centers and other facilities may adversely affect our business, results of
operations, financial conditions or cash flows.

Risks Related to Our Ordinary Shares

The market price for our ordinary shares may continue to be volatile.

From January 1, 2016, to December 31, 2016, the closing sale price of our common stock on the New York Stock Exchange (the
NYSE) ranged from $27.46 to $38.63 per share. The market price for our shares is likely to be volatile and subject to wide fluctuations in response to factors including, but not limited to, the following:



| |  |  | announcements of new products and services by us or our competitors;
| | - |  | --------------------------------------------------------------------



| |  |  | technological breakthroughs in the data center, networking or computing industries;
| | - |  | -----------------------------------------------------------------------------------



| |  |  | news regarding any gain or loss of customers by us;
| | - |  | ---------------------------------------------------



| |  |  | news regarding recruitment or loss of key personnel by us or our competitors;
| | - |  | -----------------------------------------------------------------------------



| |  |  | announcements of competitive developments, acquisitions or strategic alliances in our industry;
| | - |  | -----------------------------------------------------------------------------------------------



| |  |  | changes in the general condition of the global economy and financial markets;
| | - |  | -----------------------------------------------------------------------------



| |  |  | general market conditions or other developments affecting us or our industry;
| | - |  | -----------------------------------------------------------------------------



| |  |  | the operating and stock price performance of other companies, other industries and other events or factors beyond our control;
| | - |  | ------------------------------------------------------------------------------------------------------------------------------



| |  |  | cost and availability of power and cooling capacity;
| | - |  | ----------------------------------------------------



| |  |  | cost and availability of additional space inventory either through lease or acquisition in our target markets;
| | - |  | --------------------------------------------------------------------------------------------------------------



| |  |  | regulatory developments in our target markets affecting us, our customers or our competitors;
| | - |  | ---------------------------------------------------------------------------------------------



| |  |  | changes in demand for interconnection and colocation products and services in general or at our facilities in particular;
| | - |  | -------------------------------------------------------------------------------------------------------------------------



| |  |  | actual or anticipated fluctuations in our quarterly results of operations;
| | - |  | --------------------------------------------------------------------------



| |  |  | changes in financial projections or estimates about our financial or operational performance by securities research analysts;
| | - |  | -----------------------------------------------------------------------------------------------------------------------------



| |  |  | changes in the economic performance or market valuations of other data center companies;
| | - |  | ----------------------------------------------------------------------------------------



| |  |  | release or expiry of lock-up or other transfer restrictions on our outstanding ordinary shares; and
| | - |  | ---------------------------------------------------------------------------------------------------



| |  |  | sales or perceived sales of additional ordinary shares.
| | - |  | -------------------------------------------------------

In addition, the securities market
has from time to time experienced significant price and volume fluctuations that are not related to the operating performance of particular companies. These market fluctuations may also have a material adverse effect on the market price of our
ordinary shares.

A substantial portion of our total outstanding ordinary shares may be sold into the market at any time. Such
future sales or issuances, or perceived future sales or issuances, could adversely affect the price of our shares.

If our existing
shareholders sell, or are perceived as intending to sell, substantial amounts of our ordinary shares, including those issued upon the exercise of our outstanding share options, the market price of our ordinary shares could be adversely impacted.
Such sales, or perceived potential sales, by our existing shareholders might make it more difficult for us to issue new equity or equity-related securities in the future at a time and price we deem appropriate. The ordinary shares offered in our
initial public offering were eligible for immediate resale in the public market without restrictions. Shares previously held by our existing shareholders may also be sold in the public market in the future if registered under the Securities Act of
1933, as amended (the Securities Act), or if such shares qualify for an exemption from registration, including by reason of Rules 144 or 701 under the Securities Act. Additionally, we intend to register all of our ordinary shares that we
may issue under our employee stock ownership plans. Once we register those shares, they can be freely sold in the public market upon issuance, unless pursuant to their terms these stock awards have transfer restrictions attached to them.



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You may not be able to exercise pre-emptive rights.

Prior to December 29, 2016, and pursuant to our articles of association, our Board of Directors (as defined herein),
for a period of 18 months that lasted until December29, 2016, hadthe power to (a) limit or exclude pre-emptive rights in respect of any issue and/or (b) grant
rights to subscribe for ordinary shares. As of June 24, 2016, our Board of Directors, for a period of 18 months, from June24, 2016 onwards, has the power to grant rights to subscribe for up to 3,501,301 ordinary
shares for the purpose of our employee incentive schemes and to the extent any such shares are granted, they will not include pre-emptive rights for the benefit of shareholders. As a result, we may issue
additional shares while excluding any pre-emptive rights. If we issue additional shares without pre-emptive rights, your ownership interests in our Company would be
diluted and this in turn could have a material adverse effect on the price of our shares.

We may need additional capital and may
sell additional ordinary shares or other equity securities or incur indebtedness, which could result in additional dilution to our shareholders or increase our debt service obligations.

We believe that our current cash and anticipated cash flow from operations will be sufficient to meet our anticipated cash needs for the
foreseeable future. We may, however, require additional cash resources due to changed business conditions or other future developments, including any investments or acquisitions we may decide to pursue. If these resources are insufficient to satisfy
our cash requirements, we may seek to sell additional equity or debt securities or utilize our existing or obtain a new credit facility. The sale of additional equity securities could result in additional dilution to our shareholders. The incurrence
of indebtedness would limit our ability to pay dividends or require us to seek consents for the payment of dividends, increase our vulnerability to general adverse economic and industry conditions, limit our ability to pursue our business
strategies, require us to dedicate a substantial portion of our cash flow from operations to service our debt, thereby reducing the availability of our cash flow to fund capital expenditure, working capital requirements and other general corporate
needs, and limit our flexibility in planning for, or reacting to, changes in our business and our industry. We cannot assure you that financing will be available in amounts or on terms acceptable to us, if at all.

We have never paid, do not currently intend to pay and may not be able to pay any dividends on our ordinary shares.

We have never declared or paid any dividends on our ordinary shares and currently do not plan to declare dividends on our ordinary shares in
the foreseeable future. If we were to choose to declare dividends in the future, the payment of cash dividends on our shares is restricted under the terms of the agreements governing our indebtedness and the Implementation Agreement. In addition,
because we are a holding company, our ability to pay cash dividends on our ordinary shares may be limited by restrictions on our ability to obtain sufficient funds through dividends from subsidiaries, including restrictions under the terms of the
agreements governing our and our subsidiaries indebtedness. In that regard, our wholly-owned subsidiaries are limited in their ability to pay dividends or otherwise make distributions to us. Under Dutch law, we may only pay dividends out of
profits as shown in our adopted statutory annual accounts. We will only be able to declare and pay dividends to the extent our equity exceeds the sum of the paid and called up portion of our ordinary share capital and the reserves that must be
maintained in accordance with provisions of Dutch law and our articles of association. Our Board of Directors will have the discretion to determine to what extent profits shall be retained by way of a reserve. Appropriation and distribution of
dividends will be subject to the approval of our general meeting of shareholders. Our Board of Directors, in determining to what extent profits shall be retained by way of a reserve, will consider our ability to declare and pay dividends in light of
our future operations and earnings, capital expenditure requirements, general financial conditions, legal and contractual restrictions and other factors that it may deem relevant.

Your rights and responsibilities as a shareholder will be governed by Dutch law and will differ in some respects from the rights and
responsibilities of shareholders under U.S. law, and your shareholder rights under Dutch law may not be as clearly established as shareholder rights are established under the laws of some U.S. jurisdictions.

Our corporate affairs are governed by our articles of association and by the laws governing companies incorporated in The Netherlands. The
rights of our shareholders and the responsibilities of members of our Board of Directors under Dutch law may not be as clearly established as under the laws of some U.S. jurisdictions. In the performance of its duties, our Board of Directors will be
required by Dutch law to consider the interests of our Company, our shareholders, our employees and other stakeholders in all cases with reasonableness and fairness. It is possible that some of these parties will have interests that are different
from, or in addition to, your interests as a shareholder. We anticipate that all of our shareholder meetings will take place in The Netherlands.



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In addition, the rights of holders of ordinary shares and many of the rights of shareholders as
they relate to, for example, the exercise of shareholder rights, are governed by Dutch law and our articles of association and differ from the rights of shareholders under U.S. law. For example, Dutch law does not grant appraisal rights to a
companys shareholders who wish to challenge the consideration to be paid upon a merger or consolidation of the company. See Item 10 Additional InformationGeneral.

The provisions of Dutch corporate law and our articles of association have the effect of concentrating control over certain corporate
decisions and transactions in the hands of our Board of Directors. As a result, holders of our shares may have more difficulty in protecting their interests in the face of actions by members of our Board of Directors than if we were incorporated in
the United States. See Item 10 Additional InformationGeneral.

We are a foreign private issuer and, as a
result, and as permitted by the listing requirements of the NYSE, we may rely on certain home country governance practices rather than the corporate governance requirements of the NYSE.

Many of the corporate governance rules of the NYSE do not apply to us as a foreign private issuer; however, Rule 303A.11 requires
foreign private issuers to describe significant differences between their corporate governance standards and the corporate governance standards applicable to U.S. companies listed on the NYSE. While we believe that our corporate governance practices
are similar in many respects to those of U.S. NYSE-listed companies and provide investors with protections that are comparable in many respects to those established by the NYSE rules, there have historically been certain key differences which are
described below.

Our Nominating Committee and Compensation Committee did not historically meet the NYSE independence standard, as
one member of each respective committee was not independent as defined under Sections 303A.04 and 303A.05 of the NYSE rules, which govern nominating/corporate governance committees and compensation committees, respectively. As of
December 31, 2016, each of our Nominating Committee and Compensation Committee was comprised entirely of independent members; however because of the exemptions available to us as a foreign private issuer, we cannot assure you that we will
comply with all of the NYSE corporate governance rules in the future. As a result, you may not have the same protections afforded to stockholders of companies that are not foreign private issuers. For an overview of our corporate governance
principles, see Item 16G Corporate Governance.

You may be unable to enforce judgments obtained in U.S. courts
against us.

We are incorporated under the laws of The Netherlands, and all or a substantial portion of our assets are located
outside of the United States and certain of our directors and officers and certain other persons named in this annual report are, and will continue to be, non-residents of the United States. As a result,
although we have appointed an agent for service of process in the United States, it may be difficult or impossible for United States investors to effect service of process within the United States upon us or our
non-U.S. resident directors and officers or to enforce in the United States any judgment against us or them including for civil liabilities under the United States securities laws. Any judgment obtained in any
United States federal or state court against us may, therefore, have to be enforced in the courts of The Netherlands, or such other foreign jurisdiction, as applicable. Because there is no treaty or other applicable convention between the United
States and The Netherlands with respect to legal judgments, a judgment rendered by any United States federal or state court will not be enforced by the courts of The Netherlands unless the underlying claim is relitigated before a Dutch court. Under
current practice, however, a Dutch court will generally grant the same judgment without a review of the merits of the underlying claim (i) if that judgment resulted from legal proceedings compatible with Dutch notions of due process,
(ii) if that judgment does not contravene public policy of The Netherlands and (iii) if the jurisdiction of the United States federal or state court has been based on grounds that are internationally acceptable. Investors should not
assume, however, that the courts of The Netherlands, or such other foreign jurisdiction, would enforce judgments of United States courts obtained against us predicated upon the civil liability provisions of the United States securities laws or that
such courts would enforce, in original actions, liabilities against us predicated solely upon such laws.

We incur increased costs
as a result of being a public company.

As a listed public company, we incur additional legal, accounting, insurance and other
expenses than we would have incurred as a private company. We incur costs associated with our public company reporting requirements. In addition, the Sarbanes-Oxley Act and related rules implemented by the U.S. Securities and Exchange Commission
(the SEC) and the NYSE have imposed increased regulation and required enhanced corporate governance practices for public companies. Our efforts to comply with evolving laws, regulations and standards in this regard are likely to result
in increased general and administrative expenses and a diversion of management time and attention from revenue generating activities to compliance activities. We also expect these new rules and regulations to make it more expensive for us to obtain
director and officer liability insurance, and we may be required to accept reduced policy limits and coverage or incur substantially higher costs to obtain the same or similar coverage.



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If our internal controls over financial reporting are found to be ineffective, our
financial results or our stock price may be adversely affected.

Our most recent evaluation of our internal controls resulted in
our conclusion that, as of December 31, 2016, our internal controls over financial reporting were effective. Our ability to manage our operations and growth, and other systems upgrades designed to support our growth, will require us to develop
our controls and reporting systems and implement or adopt new controls and reporting systems. If in the future our internal control over financial reporting is found to be ineffective, or if a material weakness is identified in our controls over
financial reporting, our financial results may be adversely affected. Investors may also lose confidence in the reliability of our financial statements which could adversely affect our stock price.



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ITEM 4: INFORMATION ON THE COMPANY

Overview

We are a leading provider of
carrier and cloud neutral colocation data center services in Europe. We support approximately 1,600 customers through 45 data centers in 11 countries enabling them to create value by housing, protecting and connecting their most valuable content and
applications. We enable our customers to connect to a broad range of telecommunications carriers, Internet service providers and other customers. Our data centers act as content, cloud and connectivity hubs that facilitate the processing, storage,
sharing and distribution of data, between our customers, creating an environment that we refer to as a community of interest.

Our core
offering of carrier and cloud neutral colocation services includes space, power, cooling, connectivity, and a physically secure environment in which to house our customers computing, network, storage and IT infrastructures. We enable our
customers to reduce operational and capital costs while improving application performance and flexibility. We supplement our core colocation offering with a number of additional services, including network monitoring, remote monitoring of customer
equipment, systems management, engineering support services, cross connect, data backup and storage.

Our headquarters are near Amsterdam,
The Netherlands, and we operate in major metropolitan areas, including Amsterdam, Frankfurt, Paris and London, Europes main data center markets. Our data centers are located in close proximity to the intersection of telecommunications fiber
routes, and we house more than 600 individual carriers and Internet service providers, 21 European Internet exchanges and all the leading global cloud platforms. Our data centers allow our customers to lower their telecommunications costs and reduce
latency, thereby improving the response time of their applications. This high level of connectivity fosters the development of communities of interest.

Strategy

Target New Customers in
High Growth Industry Segments to Further Develop our Communities of Interest

We categorize our customers into industry segments,
and we will continue to target new and existing customers in high growth industry segments, including financial services, enterprise, digital media, cloud and IT services providers and connectivity providers. Winning new customers in these target
industries enables us to expand existing, and build new, high value communities of interest within our data centers. We expect the high value and reduced cost benefits of our communities of interest to continue to attract new customers, which will
lead to decreased customer acquisition costs for us. For example, customers in the digital media segment benefit from the close proximity to content delivery network providers, Internet exchanges and cloud platforms in order to create and deliver
content to consumers quickly. We focus on increasing revenue from our existing customers in our target market segments as well. New revenue from our existing customers comprises a substantial portion of our new business, generating the majority of
our new bookings. Our sales and marketing teams focus on proactively working with customers to identify expansion opportunities in new or existing markets.

Increase Share of Spend from Existing Customers

We focus on increasing revenue from our existing customers in our target-market segments. New revenue from our existing customers comprises a
substantial portion of our new business, generating the majority of our new bookings. Our sales and marketing teams focus on proactively working with customers to identify expansion opportunities in new or existing markets.

Maintain Connectivity Leadership

We seek to increase the number of carriers in each of our data centers by expanding the presence of our existing carriers into additional data
centers and targeting new carriers. We will also continue to develop our relationships with Internet exchanges and work to increase the number of Internet service providers in these exchanges. In countries where there is no significant Internet
exchange, we will work with Internet service providers and other parties to create an appropriate exchange. Our sales and business development team will continue to work with our existing carriers and Internet service providers, and target new
carriers and Internet service providers, to maximize their presence in our data centers, and to achieve the highest level of connectivity in each of them, with the right connectivity providers to support the requirements of each of our communities
of interest.



Continue to Deliver Best-in-Class Customer Service

We will continue to
provide a high level of customer service in order to maximize customer satisfaction and minimize churn. Our European Customer Service Center, which operates 24 hours a day, 365 days a year, provides continuous monitoring and troubleshooting and
reduces customers internal support costs by giving them one-call access to full, multilingual technical



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support. In addition, we will continue to develop our customer tools, which include an online customer portal to provide our customers with real-time access to information. We will continue to
invest in our local service delivery and assurance teams, which provide flexibility and responsiveness to customer needs.

Disciplined Expansion and
Conservative Financial Management

We plan to invest in our data center capacity while maintaining our disciplined investment
approach and prudent financial policy. We will continue to determine the size of our expansions based on selling patterns, pipeline and trends in existing demand as well as working with our customers to identify future capacity requirements. We
begin new expansions only once we have identified customers and have the capital to fund the build out fully, with the goal of selling 25% of a data centers space by the time it opens. To manage the timing and scale of our capital expenditure
obligations, reduce risk and improve our return on capital, we phase our expansions with a target internal rate of return in excess of 30%. Finally, we will continue to manage our capital deployment and financial management decisions based on
adhering to our target internal rate of return on new expansions and target leverage ratios. For a description of past and current capital expenditure, see Item 5 Operating and Financial Review and Prospects.

Our Services

We offer carrier and cloud
neutral colocation data center and managed services to our customers.

Colocation

Our colocation services provide clients with the space and power to deploy IT infrastructure in world-class data centers. Through a number of
redundant subsystems, including power, fiber and cooling, we are able to provide our customers with highly reliable services. Our scalable colocation services enable our customers to upgrade space, connectivity and services as their requirements
evolve. Our data centers employ a wide range of physical security features, including biometric scanners, man traps, smoke detection, fire suppression systems, and secure access. Our colocation facilities include the following services:

Space

Each of our data
centers houses our customers IT infrastructure in a highly connected facility, designed and outfitted to ensure a high level of network reliability. We provide the space and power for our clients to deploy their own IT infrastructures.
Depending on their space and security needs, customers can choose individual cabinets, a secure cage or an individual room.

Power

Each of our data centers offers our customers high power availability. The majority of our data centers have redundant grid
connections and, since power availability is essential to their operation, all have a power backup installation in case of outage. Generators, in combination with uninterrupted power supply or UPS systems, endeavor to ensure maximum availability. We
provide a full range of output voltages and currents and offer our customers a choice of guaranteed levels of availability between 99.9% and 99.999%.

Connectivity

We provide
connectivity services that enable our customers to connect their IT infrastructure to exchange traffic and access cloud platforms. These services, which offer connectivity with more than 600 telecommunications carriers and all the leading cloud
providers, enable our customers to reduce costs while improving the reliability and performance associated with the exchange of Internet and cloud data traffic. Our connectivity options offer customers a key strategic advantage by providing direct,
high-speed connections to peers, partners, customers, cloud platforms and some of the most important sources of IP data, content and distribution in the world.

Cross Connect

We install
and manage physical connections running from our customers equipment to the equipment of our telecommunications carrier, Internet service providers and Internet exchange customers, as well as to other customers. Cross connects are physically
secured in dedicated Meet-Me rooms. Our staff test and install cables and patches and maintain cable trays and patch panels according to industry best practice.



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Managed Services

In addition to providing colocation services, we provide a number of additional managed services, including systems monitoring, systems
management, engineering support services, data back-up and storage. Some managed services are only performed on an ad hoc basis, as and when requested by the customer, while others are more recurring in
nature. These services are provided either directly by us, or in conjunction with third parties.

Customers

We categorize our customers into industry segments including: Digital Media and Distribution, Enterprises, Financial Services, System
Integrators, Cloud Providers and Connectivity Providers. We have approximately 1,600 customers. The majority of our customers have entered into contracts with us for an initial three to five year term, which are typically renewed constantly and
automatically for successive one year periods.

In the year ended December 31, 2016, 35% of our Revenue came from our top 20
customers, 26% from our top 10 customers and 13% from one customer, which is a Fortune 50 company.

The following table sets forth some of
our representative customers by segment:



|                    |  |                     |  |                       
|------------------- |  | ------------------- |  | ----------------------
|Digital Media       |  | Enterprises         |  | Financial Services    
|Akamai              |  | AC Hotels           |  | ABN Amro              
|Fox                 |  | Bombardier          |  | Barclays              
|LBI                 |  | Clearly Gottlieb    |  | Citigroup             
|Limelight Networks  |  | eBay                |  | London Metal Exchange 
|Netflix             |  | Heidelberg Cement   |  | Nasdaq                
|Perform             |  | Merger Market       |  | Western Union         
|Riot Games          |  | Saint Gobain        |  |                       
|Rubicon Project     |  |                     |  |                       
|                    |  |                    
|Systems Integrators |  | Cloud Providers     |  | Connectivity Providers
|Atos                |  | Amazon Web Services |  | AT&T                  
|CapGemini           |  | Cisco               |  | BT                    
|Cognizant           |  | Cloudgermany.de     |  | China Telecom         
|CSC                 |  | Digital Ocean       |  | China Unicom          
|Evry                |  | Microsoft Azure     |  | Cogent                
|HP Enterprise       |  | Oracle              |  | Colt                  
|IBM                 |  | Salesforce          |  | Deutsche Telecom      
|NNIT                |  | Softlayer           |  | Hibernia              
|Siemens             |  |                     |  | Level 3               
|                    |  |                     |  | Tata                  
|                    |  |                     |  | Telefonica            
|                    |  |                     |  | TeliaSonera           
|                    |  |                     |  | Verizon               
|                    |  |                     |  | Vodafone              
|                    |  |                     |  | Zayo                  

Customer service is provided locally by our in-country teams and
centrally via our European Customer Service Center, which is located in London. The European Customer Service Center, which supports five European languages (Dutch, English, French, German and Spanish), is run by technical support staff, operates 24
hours a day, 365 days a year, and provides rapid and cost-effective technical and business support to all our clients. In addition to its service desk functions, the European Customer Service Center monitors and manages the performance of our data
centers and takes care of network monitoring and other network operations-center functions. It arranges, as necessary, local engineering support, rapid response
(out-of-hours emergency assistance), backup and restore and other managed services. To ensure efficient and timely support, a customer relationship
management system electronically logs each issue that the European Customer Service Center is asked to address.



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Customer Contracts

Our customers typically sign contracts for the provision of colocation space, together with basic service-level agreements that provide for
support services and other managed services. Unless customers notify us of their intention to terminate, which is normally 90 days before the end of the contract period, contracts (a majority of which have an initial term of three to five years)
renew constantly and automatically for successive one year periods. Where it is beneficial to us, however, we will seek to re-negotiate and re-sign with a customer
(generally for a minimum one-year period), before the contract expires. Our contracts generally allow us the option to increase prices in accordance with each jurisdictions local price indices, and we
are able to adjust the amount charged for power at any time, and as frequently as necessary, during the life of the contract to account for any increases in the costs we are charged for power by our suppliers or government surcharges.

Contracts for colocation services are priced on the basis of a monthly recurring fee that reflects charges for space, power used in the common
parts of the data center, power plugs, and metered power usage, with related infrastructure and implementation costs included in an initial set-up fee. Clients have two options on power usage:
(i) to pay in advance (typically included in the total cabinet price), for power usage in plugs, which are contractually defined amounts of power per month and for which the customer must pay in full, regardless of how much power is
actually used; or (ii) to pay for their actual power usage in arrears on a metered basis. The power-plug option is usually sold in shared areas of our data centers where customers pay per cabinet. The metered power usage option is usually sold
to customers that take dedicated space such as a cage, suite or private room, for which where they are charged on a per square meter basis.

Similar to our colocation services, our managed services are typically contracted on the basis of an annual (or longer where appropriate)
contract and the fee generally consists of monthly recurring charges and usage based charges as appropriate. It may also include an initial set-up fee. If managed services are ad hoc, they are invoiced on
completion of the service.

Each new customer contract we enter into, provides that in the event of a power outage or other equivalent
service level agreement breach (for example, repeatedly crossing a temperature or humidity benchmark), the customer will receive a service credit in the form of a reduction in its next service fee payment; the credit is on a sliding scale to reflect
the seriousness of the breach. Our customer contracts generally exclude liability for consequential or indirect loss suffered as a result of a service level agreement breach and for force majeure. Historically, service credit payments under our
service level agreements have been minimal.

Customer Accounts

Fees are normally invoiced quarterly in advance, with the exception of metered power usage which is invoiced monthly in arrears. On new
contracts, we generally require deposits, which we are able to use to cover any non-payment of invoices. If accounts are not paid on time, we ultimately seek recovery through the court system.

Sales and Marketing

Our sales and
marketing teams focus on identifying and converting opportunities both for existing customers and for prospects in our target segments, to expand our customers space within our data center portfolio and enhance our communities of interest.

Sales

We
sell our products and services through local direct sales forces, through a centralized International Accounts Team and by attending tradeshows, networking events and industry seminars. Our International Accounts Team focuses on maximizing revenues
from our largest customers across our European footprint and on identifying and developing new major accounts. We use a number of indirect channel partners in the United States to secure referrals and orders from companies based outside the United
States.

Marketing

Our marketing organization is responsible for identifying target customer segments, developing the value proposition that will enable us to
succeed in our chosen segments, building and communicating a distinct brand, driving qualified leads into the sales pipeline and ensuring strategic alignment with key partners. Our marketing team supports our strategic priorities through the
following primary objectives:



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Customer Segmentation and Targeting

Our marketing organization is responsible for the identification of high-growth customer segments and associated companies therein that we wish
to target in order to build the community of interest and develop our value proposition to enable success in our chosen markets. Our marketing organization is also responsible for business development of strategic accounts in each segment working
with sales in order to build our communities of interest. Strategic customers when present in our data centers, attract other interested members to join the community. A company in one of our segments is considered strategic if its
presence adds value to the community of interest by increasing the magnetism of the community. This can be achieved as a consequence of the application, data or capability that they place in our data centers or by virtue of its brand and the
associated added value to Interxion and the community.

Brand Management and Positioning

This includes brand identity unification, positioning at the corporate and country levels, the development of methodology, marketing assets and
brand awareness programs for all our business units.

Lead Generation

To grow our pipeline and deliver our revenue goals, we use online, direct and event marketing, targeted advertising and public relations
programs and strategies to design and execute successful lead-generation campaigns that leverage telemarketing and direct sales.

Employees

As of December 31, 2016, we had a total of 600 employees (excluding contractors and interim staff), of which 359 worked in operations and
support, 121 in sales and marketing and 120 in general and administrative roles. Of our employees, 431 were based in countries in which we have operations, 169 worked from our headquarters near Amsterdam our from our corporate offices in London. We
believe that relations with our employees are good. Except for collective rights granted by local law, none of our employees is subject to collective bargaining agreements.

Leases

We hold title to certain of our
properties and lease the remainder. We exercised certain purchase options and agreed to purchase the PAR7 and AMS7 properties, which we currently report as financial leases and will continue to report as such until the acquisitions are completed.
For the other leased properties in which our data centers are located, we generally seek to secure 20- to 25 year leases. Where possible, we try to mitigate long-term financial commitments by contracting for
initial lease terms for a minimum period of 10 to 15 years, with the option to either (i) extend the leases for additional five-year terms, or (ii) terminate the leases upon expiration of the initial
10- to 15-year term. Our leases generally have consumer price index-based annual rent increases over the full term of the lease.

Data Center Operations

We have 45
carrier and cloud neutral colocation data centers in 13 metropolitan areas in 11 countries. These represent approximately 120,200 square meters of Maximum Equippable Space (as of December 31, 2016).

Our data centers are all located in Europe and all our revenues are generated in Europe. For more information on the geographic breakdown of
our revenues, see Note 5 of our 2016 consolidated financial statements, included elsewhere herein.

We primarily select sites for our data
centers based primarily on expected customer demand, availability of power and access to telecommunications fiber routes. The majority of our data centers are stand-alone structures, close to power
sub-stations and telecommunication networks in light industrial areas outside city centers, rather than in residential areas where more prohibitive environmental regulations exist. Data center design and
development is a highly complex process. Construction requires extensive planning and must navigate regulatory procedures which can vary by jurisdiction. We have developed extensive technical experience in building data centers in Europe and are
well-positioned to bring new data centers to market rapidly to meet customer demand.



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The key characteristics of our data centers are as follows:



|                   |  |              |  |                           |  |                                              |         | 
|------------------ |  | ------------ |  | ------------------------- |  | -------------------------------------------- | ------- | 
|Country            |  | Location     |  | Ready for service Quarter |  | MaximumEquippable Spaceas ofDecember 31,2016 |        
|                   |  |              |  |                           |  | Square meters                                |        
|Austria            |  | Vienna-1     |  | Third Quarter, 2000       |  |                                              | 4,700   | 
|Austria(1)         |  | Vienna-2     |  | Fourth Quarter, 2014      |  |                                              | 6,200   | 
|Belgium            |  | Brussels     |  | Third Quarter, 2000       |  |                                              | 5,100   | 
|Denmark            |  | Copenhagen-1 |  | Third Quarter, 2000       |  |                                              | 3,800   | 
|Denmark(2)         |  | Copenhagen-2 |  | Second Quarter, 2016      |  |                                              | 800     | 
|France             |  | Marseille    |  | Third Quarter, 2014       |  |                                              | 6,400   | 
|France             |  | Paris-1      |  | First Quarter, 2000       |  |                                              | 1,400   | 
|France(3)          |  | Paris-2      |  | Third Quarter, 2001       |  |                                              | 2,900   | 
|France(3)          |  | Paris-3      |  | Third Quarter, 2007       |  |                                              | 1,900   | 
|France             |  | Paris-4      |  | Third Quarter, 2007       |  |                                              | 1,300   | 
|France(3)          |  | Paris-5      |  | Fourth Quarter, 2009      |  |                                              | 4,000   | 
|France(3)          |  | Paris-6      |  | Third Quarter, 2009       |  |                                              | 1,300   | 
|France(4)          |  | Paris-7      |  | Second Quarter, 2012      |  |                                              | 5,200   | 
|Germany            |  | Dusseldorf-1 |  | Second Quarter, 2000      |  |                                              | 3,300   | 
|Germany            |  | Dusseldorf-2 |  | Fourth Quarter, 2015      |  |                                              | 1,200   | 
|Germany            |  | Frankfurt-1  |  | First Quarter, 1999       |  |                                              | 500     | 
|Germany            |  | Frankfurt-2  |  | Fourth Quarter, 1999      |  |                                              | 1,100   | 
|Germany            |  | Frankfurt-3  |  | First Quarter, 2000       |  |                                              | 2,200   | 
|Germany            |  | Frankfurt-4  |  | First Quarter, 2001       |  |                                              | 1,400   | 
|Germany            |  | Frankfurt-5  |  | Third Quarter, 2008       |  |                                              | 1,700   | 
|Germany            |  | Frankfurt-6  |  | Second Quarter, 2010      |  |                                              | 2,200   | 
|Germany            |  | Frankfurt-7  |  | First Quarter, 2012       |  |                                              | 1,500   | 
|Germany            |  | Frankfurt-8  |  | Second Quarter, 2014      |  |                                              | 3,700   | 
|Germany            |  | Frankfurt-9  |  | First Quarter, 2014       |  |                                              | 800     | 
|Germany(5)         |  | Frankfurt-10 |  | First Quarter, 2016       |  |                                              | 4,800   | 
|Ireland            |  | Dublin-1     |  | Second Quarter, 2001      |  |                                              | 1,100   | 
|Ireland            |  | Dublin-2     |  | First Quarter, 2010       |  |                                              | 2,300   | 
|Ireland(6)         |  | Dublin-3     |  | Fourth Quarter, 2016      |  |                                              | 1,200   | 
|The Netherlands    |  | Amsterdam- 1 |  | First Quarter, 1998       |  |                                              | 600     | 
|The Netherlands(7) |  | Amsterdam- 2 |  | First Quarter, 1999       |  |                                              |        | 
|The Netherlands    |  | Amsterdam- 3 |  | Fourth Quarter, 1999      |  |                                              | 3,000   | 
|The Netherlands(8) |  | Amsterdam- 4 |  | Fourth Quarter, 2000      |  |                                              |        | 
|The Netherlands    |  | Amsterdam- 5 |  | Fourth Quarter, 2008      |  |                                              | 4,300   | 
|The Netherlands    |  | Amsterdam- 6 |  | Third Quarter, 2012       |  |                                              | 4,400   | 
|The Netherlands    |  | Amsterdam- 7 |  | First Quarter, 2014       |  |                                              | 7,600   | 
|The Netherlands(9) |  | Amsterdam- 8 |  | Fourth Quarter, 2016      |  |                                              | 1,500   | 
|Spain              |  | Madrid-1     |  | Third Quarter, 2000       |  |                                              | 4,000   | 
|Spain              |  | Madrid-2     |  | Fourth Quarter, 2012      |  |                                              | 1,700   | 
|Sweden             |  | Stockholm-1  |  | Third Quarter, 2000       |  |                                              | 1,900   | 
|Sweden(10)         |  | Stockholm-2  |  | Second Quarter, 2013      |  |                                              | 1,200   | 
|Sweden             |  | Stockholm-3  |  | Third Quarter, 2014       |  |                                              | 900     | 
|Sweden             |  | Stockholm-4  |  | Second Quarter, 2015      |  |                                              | 1,100   | 
|Switzerland        |  | Zurich       |  | Fourth Quarter, 2000      |  |                                              | 7,100   | 
|UK                 |  | London-1     |  | Third Quarter, 2000       |  |                                              | 5,400   | 
|UK                 |  | London-2     |  | Third Quarter, 2012       |  |                                              | 1,500   | 
|                   |  |              |  |                           |  |                                              |         | 
|Total              |  |              |  |                           |  |                                              | 120,200 | 
|                   |  |              |  |                           |  |                                              |         | 

Notes:



|(1) | Vienna-2 Maximum Equippable Space increased by 400 square meters as a result of a new expansion (VIE2.6 - Stage 1, September 2016).
|--- | -----------------------------------------------------------------------------------------------------------------------------------

|(2) | Copenhagen-2 Maximum Equippable Space increased by 800 square meters as a result of new expansions (CPH2.1.1 - April 2016, CPH2.2.1 Stage 1 - December 2016).
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------



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|(3) | Paris-2-3-5-6 Maximum Equippable Space decreased in total
by 400 square meters as a result of re-measuring of the data centers (100sqm/data center - January 2016).
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(4) | Paris-7 Maximum Equippable Space increased by 500 square meters as a result of a new expansion (PAR7.2A - November 2016).
|--- | -------------------------------------------------------------------------------------------------------------------------

|(5) | Frankfurt-10 Maximum Equippable Space increased by 4,800 square meters as a result of new expansions (FRA10.1 - January 2016, FRA10.2 - April 2016, FRA10.3,10.4 - September 2016).
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(6) | Dublin-3 Maximum Equippable Space increased by 1,200 square meters as a result of a new expansion (DUB3.1, 3.2 - December 2016).
|--- | --------------------------------------------------------------------------------------------------------------------------------

|(7) | Amsterdam-2 Maximum Equippable Space decreased by 700 square meters, due to closing the facility in 2016.
|--- | ---------------------------------------------------------------------------------------------------------

|(8) | Amsterdam-4 Maximum Equippable Space is included in the Maximum Equippable Space of Amsterdam-1.
|--- | ------------------------------------------------------------------------------------------------

|(9) | Amsterdam-8 Maximum Equippable Space increased by 1,500 square meters as a result of a new expansion (AMS8.1.1 - November 2016).
|--- | --------------------------------------------------------------------------------------------------------------------------------

|(10) | Stockholm-2 Maximum Equippable Space increased by 200 square meters as a result of new expansion (STO2.3 - April 2016).
|---- | -----------------------------------------------------------------------------------------------------------------------

Seasonality

The Companys
operations are not significantly exposed to seasonality.

Competition

We compete directly with all providers of data center services including in-house and outsourced data
centers. Our chief competitors among each of the types of competition are listed below.

Carrier and Cloud Neutral Colocation Data
Centers

Carrier and cloud neutral colocation data centers in Europe include Equinix and Telehouse.

Wholesale Data Centers

Competitor wholesale data center providers include Digital Realty Trust and Global Switch.

Carrier-Operated Data Centers

Carriers that operate their own data centers in Europe include AT&T, BT, Cable & Wireless, Colt, Verizon, Level 3 and
Deutsche Telekom, among others.

IT Outsourcers and Managed Services Provider Data Centers

IT outsourcers and managed services providers in Europe include HP, IBM, Rackspace and Sungard.

See Item 3 Key InformationRisk FactorsWe face significant competition and we may not be able to compete successfully
against current and future competitors.

Litigation

We have not been party to any legal proceedings, governmental or arbitration proceedings during the 12 months preceding the date of this annual
report which may have, or have in the recent past had, a significant effect on our financial position.

Regulation

Although we are not subject to any financial regulations (such as outsourcing requirements, MiFID or Basel II), our financial services
customers commonly are. In their contracts with us, these financial services customers impose access, audit and inspection rights to those parts of our data centers that contain their equipment to enable them to satisfy their regulatory
requirements.



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In addition, as a consumer of substantial amounts of electricity, we are affected by the CRC
Energy Efficiency Scheme (the CRC Scheme), which was introduced in 2010, and simplified in May 2013 by the CRC Energy Efficiency Scheme Order 2013. It is a mandatory UK-wide emissions trading
scheme based on electricity usage. Phase 2 runs from April 1, 2014 to March 31, 2019. For Phase 2 of the CRC Scheme, organizations qualified if, during the qualification year (that ran from April 1, 2012 until March 31, 2013) , they
consumed over 6,000 MWh of qualifying electricity through at least one settled half hour meter. We qualified for the CRC Scheme and registered for Phase 2 with the CRC Registry by the deadline of January 31, 2014.
Non-compliance with the CRC Scheme may result in criminal and civil penalties.

Once registered
for Phase 2, participants have to monitor and report their annual supplies of electricity and gas and then surrender allowances equal to the quantity of carbon dioxide emissions associated with that annual CRC Scheme consumption before
the end of October. One allowance must be surrendered for each ton of carbon dioxide emitted. Allowances can be bought or traded and participants must submit an annual report on their CRC energy supplies by the end of July each year. The allowance
price in the April 2015 forecast sale for 2015/2016 was £15.60 per ton of carbon dioxide and was £16.90 per ton in the buy to comply sale in June 2016. The allowance price for 2016/17 is £16.10 per ton in
the April 2016 forecast sale and should be £17.20 per ton in the buy to comply sale in June 2017. Through the annual report publication, the UK Environmental Agency also publishes information on the basis of
participants annual reports including details the participants submitted when they registered for the CRC Scheme. The potential impacts of the CRC Scheme on our data centers in the UK include the costs of improving energy efficiency in order
to reduce electricity consumption and the costs of allowances and administration in complying with the CRC Scheme.

Climate Change
Agreements (CCAs) are voluntary agreements between the UK Government and energy-intensive sectors that allow a discount from the UK climate change levy (a tax added to electricity and fuel bills) in return for companies meeting carbon
saving targets. Data center businesses that provide colocation space (both wholesale and retail) have been eligible for CCAs since July 2014, when the data center sector association, techUK, signed an umbrella agreement with the UK Environmental
Agency. From April 1, 2013, participants are entitled to a 90% reduction on the electricity climate change levy and a 65% reduction for other fuels if they agree to and meet their CCA targets. We signed a CCA in February 2015. In December 2016,
the UK government confirmed that the buy-out price for 2017/18 and 2019/20 will increase broadly in line with RPI to £14 per ton of carbon dioxide emissions, and also that data centers (added as a new
sector to the CCA scheme in 2014) will not be subject to a detailed target review.

Within this CCA framework, the CRC Scheme provides
that an electricity or gas supply consumed for the purpose of operating a participating CCA facility will not qualify as an energy supply that requires surrender of carbon dioxide allowance under the CRC Scheme. While we now face costs associated
with meeting the target in our CCA, the CCA has reduced our expenditure on CRC Scheme allowances and enables us to qualify for the reduced UK climate change levy (CCL) rate under Part IV of Schedule 6 to the Finance Act 2000 (as
amended).

Changes to the UK environmental regulations are expected in the future. The UK government consulted on reforming business
energy efficiency taxation in autumn 2015. HM Treasury published its response to that consultation in March 2016 and announced that it will close the CRC Scheme following the 2018-2019 compliance year, with no purchase of allowances required to
cover emissions for energy supplied from April 2019. The last CRC report should therefore be submitted by the end of July 2019 and the last surrender of allowances for emissions from energy supplied in the 2018-2019 compliance year should occur by
the end of October 2019. The UK government is expected to consult this year on a new, simplified energy and carbon reporting framework for introduction by April 2019. The main rates of the CCL will increase from April 2019, but the UK government
will keep the existing CCA eligibility criteria in place through at least 2023 and will increase the CCL discount available to CCA participants from April 2019 to ensure that they pay no more than a Retail Price Index level increase. We will
continue to analyze all proposed changes fully and will prepare to comply with any new requirement and/or legal obligations.

Pursuant to
Article 8(4-6) of the Energy Efficiency Directive 2012 (aiming to encourage investment in energy efficiency improvements, as part of the European Unions aim to reduce primary energy consumption by 20% by
2020), European Member States are obliged to ensure that undertakings that meet certain thresholds on the number of employees, annual balance sheet total and annual turnover qualify as specified in Energy Efficiency Directive 2012 carry out energy
audits. The directive requires the audits to be carried out at least every four years, and set a first compliance deadline of December 5, 2015. The directive allows alternatives to the audit, such as ISO 50001 certification. If a qualifying
undertaking does not comply with its obligations under national legislation, the relevant compliance body may issue sanctions (for example, in the UK, the regulator can issue an enforcement notice and seek civil penalties). Costs associated with
ESOS include the costs of the ESOS assessments and the voluntary costs of implementing any energy efficiency measures identified.



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We meet the qualification thresholds in the UK, Germany, France, Denmark, Sweden and The
Netherlands.

In Germany, in accordance with national legislation, we are exempt from performing an energy efficiency audit due to our ISO
50001 certification. The audits for France, Denmark, Sweden, the UK and The Netherlands have been performed and filed with the relevant authorities.

As an operator of data centers, which act as content and connectivity hubs that facilitate the storage, sharing and distribution of data,
content and media for customers, we have in place an Acceptable Use Policy, which applies to all our customers that use Internet connectivity services provided by us and which requires our customers to respect all legislation pertaining to the use
of Internet services, including email.

We are subject to telecommunications regulation in the various European jurisdictions in which we
presently operate, most notably the EU Regulatory Framework. Under these regulations, we are not required to obtain licenses for the provision of our services. We may, however, be required to notify the national telecommunications regulator in
certain European jurisdictions about these services. We have made the necessary notifications for such jurisdictions.

By operating
data centers, we will process personal data under the EU Data Protection Directive (95/46/EC). This is implemented through adoption in local legislation of the EU member states. We are subject to this legislation in most European jurisdictions as
processors and controllers in the meaning of this Directive. This may impose obligations on us, such as an obligation to take reasonable steps to protect that information.

Insurance

We have in place what we
consider to be reasonable insurance coverage against the type of risks usually insured by companies carrying on the same or similar types of business as ours in the markets in which we operate. Our insurance broadly falls under the following four
categories: professional indemnity, general third party liability, directors and officers liability and property damage insurance and business interruption insurance.

Our History and Organizational Structure

European Telecom Exchange BV was incorporated on April 6, 1998. After being renamed InterXion Holding B.V. on June 12, 1998, it was
converted into InterXion Holding N.V. on January 11, 2000. For further information on the history and development of the Company, see Item 10 Additional InformationGeneral. From inception onwards, we have grown our
colocation business organically. Since 2001, we have developed our geographic footprint in 13 cities where we have established data center campuses. The only changes to our geographic footprint have been very recent  we added Marseille in 2014
and left Hilversum at the end of 2014. Following the industry downturn that began in 2001 as a result of a sharp decline in demand for Internet-based businesses, we restructured within our geographic base to refocus on a broader and more stable
customer base. We have since focused on shifting our customer base from primarily emerging Internet companies and carriers to a wide variety of established businesses that seek to house their IT infrastructure.

Our subsidiaries perform various tasks, such as servicing our clients, operating our data centers, customers support, and providing
management, sales and marketing support to the Group. The following table sets forth the name, country of incorporation and (direct and indirect) ownership interest of our subsidiaries:



|                                   |  |                          |  |             |     |   |          |                                  
|---------------------------------- |  | ------------------------ |  | ----------- | --- | - | -------- | ---------------------------------
|Entity                             |  | Country of
incorporation |  | Ownership
% |     |   | Activity
|InterXion HeadQuarters B.V.        |  | The Netherlands          |  |             | 100 | % |          | Management                       
|Interxion Europe Ltd               |  | United Kingdom           |  |             | 100 | % |          | Management                       
|InterXion Operational B.V.         |  | The Netherlands          |  |             | 100 | % |          | Management/Holding               
|InterXion Participation 1 B.V.     |  | The Netherlands          |  |             | 100 | % |          | Holding                          
|InterXion Nederland B.V.           |  | The Netherlands          |  |             | 100 | % |          | Provision of co-location services
|InterXion Datacenters B.V.         |  | The Netherlands          |  |             | 100 | % |          | Data center sales & marketing    
|InterXion Real Estate Holding B.V. |  | The Netherlands          |  |             | 100 | % |          | Real estate management/Holding   
|InterXion Real Estate I B.V.       |  | The Netherlands          |  |             | 100 | % |          | Real estate                      
|InterXion Real Estate IV B.V.      |  | The Netherlands          |  |             | 100 | % |          | Real estate                      
|InterXion Real Estate V B.V.       |  | The Netherlands          |  |             | 100 | % |          | Real estate                      
|InterXion Real Estate X B.V.       |  | The Netherlands          |  |             | 100 | % |          | Real estate                      



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|                               |  |                          |  |             |     |   |          |                                  
|------------------------------ |  | ------------------------ |  | ----------- | --- | - | -------- | ---------------------------------
|Entity                         |  | Country of
incorporation |  | Ownership
% |     |   | Activity
|InterXion Österreich GmbH      |  | Austria                  |  |             | 100 | % |          | Provision of co-location services
|InterXion Real Estate VII GmbH |  | Austria                  |  |             | 100 | % |          | Real estate                      
|InterXion Belgium N.V.         |  | Belgium                  |  |             | 100 | % |          | Provision of co-location services
|InterXion Real Estate IX NV.   |  | Belgium                  |  |             | 100 | % |          | Real estate                      
|InterXion Danmark ApS          |  | Denmark                  |  |             | 100 | % |          | Provision of co-location services
|InterXion Real Estate VI ApS.  |  | Denmark                  |  |             | 100 | % |          | Real estate                      
|Interxion France SAS           |  | France                   |  |             | 100 | % |          | Provision of co-location services
|Interxion Real Estate II SARL  |  | France                   |  |             | 100 | % |          | Real estate                      
|Interxion Real Estate III SARL |  | France                   |  |             | 100 | % |          | Real estate                      
|Interxion Real Estate XI SARL  |  | France                   |  |             | 100 | % |          | Real estate                      
|InterXion Deutschland GmbH     |  | Germany                  |  |             | 100 | % |          | Provision of co-location services
|InterXion Ireland DAC          |  | Ireland                  |  |             | 100 | % |          | Provision of co-location services
|Interxion España SA            |  | Spain                    |  |             | 100 | % |          | Provision of co-location services
|InterXion Sverige AB           |  | Sweden                   |  |             | 100 | % |          | Provision of co-location services
|InterXion (Schweiz) AG         |  | Switzerland              |  |             | 100 | % |          | Provision of co-location services
|InterXion Real Estate VIII AG. |  | Switzerland              |  |             | 100 | % |          | Real estate                      
|InterXion Carrier Hotel Ltd.   |  | United Kingdom           |  |             | 100 | % |          | Provision of co-location services

CT Corporation acts as our agent in the United States. It is located at 111 Eight Avenue, 13th Floor, New
York, New York 10011, United States.



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ITEM 4A: UNRESOLVED STAFF COMMENTS

Not applicable.



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ITEM 5: OPERATING AND FINANCIAL REVIEW AND PROSPECTS

The following information should be read in conjunction with the audited consolidated financial statements and notes thereto and with the
financial information presented in Item 18 Financial Statements included elsewhere in this annual report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Such statements
are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. For example, the words believes,
anticipates, plans, expects, intends, and similar expressions are intended to identify forward-looking statements. Our actual results could differ materially from those discussed in these
forward-looking statements. Factors that might cause such a discrepancy include, but are not limited to, those discussed in Liquidity and Capital Resources below and Item 3 Key InformationRisk Factors above.
All forward-looking statements in this annual report are based on information available to us as of the date of this annual report and we assume no obligation to update any such forward-looking statements.

Overview

We are a leading provider of
carrier and cloud neutral colocation data center services in Europe. We support approximately 1,600 customers through 45 data centers in 11 countries enabling them to create value by housing, protecting and connecting their most valuable content and
applications. We enable our customers to connect to a broad range of telecommunications carriers, Internet service providers and other customers. Our data centers act as content, cloud and connectivity hubs that facilitate the processing, storage,
sharing and distribution of data, between our customers, creating an environment that we refer to as a community of interest.

Our core
offering of carrier and cloud neutral colocation services includes space, power, cooling, connectivity, and a physically secure environment in which to house our customers computing, network, storage and IT infrastructures. We enable our
customers to reduce operational and capital costs while improving application performance and flexibility. We supplement our core colocation offering with a number of additional services, including network monitoring, remote monitoring of customer
equipment, systems management, engineering support services, cross connect, data backup and storage.

Our headquarters are near Amsterdam,
The Netherlands, and we operate in major metropolitan areas, including Amsterdam, Frankfurt, Paris and London, Europes main data center markets. Our data centers are located in close proximity to the intersection of telecommunications fiber
routes, and we house more than 600 individual carriers and Internet service providers, 21 European Internet exchanges and all the leading global cloud platforms. Our data centers allow our customers to lower their telecommunications costs and reduce
latency, thereby improving the response time of their applications. This high level of connectivity fosters the development of communities of interest.

Growth in Internet traffic, cloud computing and the use of customer-facing hosted applications are driving significant demand for high quality
carrier and cloud neutral colocation data center services. This demand results from the need for either more space or more power, or both. These needs, in turn, are driven by, among other factors, decreased cost of Internet access, increased
broadband penetration, increased usage of high-bandwidth content, increased number of wireless access points and the growing availability of Internet and network-based applications. If the global economys recovery stalls or is reversed, global
IP traffic may grow at a reduced rate, which could lead to a slowdown in the increase in demand for our services.

Our ability to meet the
demand for high quality carrier and cloud neutral colocation data center services depends on our ability to add capacity by expanding existing data centers or by locating and securing suitable sites for additional data centers that meet our
specifications, such as proximity to numerous network service providers, access to a significant supply of electrical power and the ability to sustain heavy floor loading.

Our market is highly competitive. Most companies operate their own data centers and in many cases continue to invest in data center capacity,
although there is a trend towards outsourcing. We compete against other carrier and cloud neutral colocation data center service providers, such as Equinix and Telehouse. We also compete with other types of data centers, including carrier-operated
colocation, wholesale and IT outsourcers and managed services provider data centers. The cost, operational risk and inconvenience involved in relocating a customers networking and computing equipment to another data center are significant and
have the effect of protecting a competitors data center from significant levels of customer churn.



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Key Aspects of Our Financial Model

We offer carrier and cloud neutral colocation services to our customers. Our revenues are mostly recurring in nature and in the last several
years, Recurring Revenue has consistently represented more than 90% of our total revenue. Our contracted Recurring Revenue model together with low levels of Average Monthly Churn provide significant predictability of future revenue.

Revenue

We generally enter into
contracts with our customers for initial terms of three to five years, with annual price escalators and automatic one-year renewals after the end of the initial term. Our customer contracts provide for a fixed
monthly recurring fee for our colocation, managed services and, in the case of cabinets, fixed amounts of power pre-purchased at a fixed price. These fees are billed monthly, quarterly or bi-annually in advance, together with fees for other services such as the provision of metered power (based on a price per kilowatt hour actually consumed), billed monthly in arrears, or fees for services such as
remote hands and eyes support, billed on an as-incurred basis.

The following table presents our
future committed revenues expected to be generated from our fixed term customer contracts as of December 31, 2016, 2015 and 2014.



|                     |  |      |         |  |      |  |         |      |  |  |         | 
|-------------------- |  | ---- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                     |  | 2016 |         |  | 2015 |  |         | 2014 | 
|Within 1 year        |  |      | 296,600 |  |      |  | 275,400 |      |  |  | 253,100 | 
|Between 1 to 5 years |  |      | 434,900 |  |      |  | 353,600 |      |  |  | 343,500 | 
|After 5 years        |  |      | 52,700  |  |      |  | 76,700  |      |  |  | 90,700  | 
|                     |  |      |         |  |      |  |         |      |  |  |         | 
|Total                |  |      | 784,200 |  |      |  | 705,700 |      |  |  | 687,300 | 
|                     |  |      |         |  |      |  |         |      |  |  |         | 

Revenues are recognized when it is probable that future economic benefits will flow to the Group and that
these benefits, together with their related costs, can be measured reliably. Revenues are measured at the fair value of the consideration received or receivable taking into account any discounts or volume rebates.

The Group reviews transactions for separately identifiable components of revenue and if necessary applies individual recognition treatment, in
which case revenues are allocated to separately identifiable components based on their relative fair values.

The Group earns colocation
revenue as a result of providing data center services to customers at its data centers. Colocation revenues and lease income are recognized in profit or loss on a straight-line basis over the term of the customer contract. Incentives granted are
recognized as an integral part of the total income, over the term of the customer contract. Customers are usually invoiced quarterly in advance and income is recognized on a straight-line basis over the quarter. Initial setup fees payable at the
beginning of customer contracts are deferred at inception and recognized in profit or loss on a straight-line basis over the initial term of the customer contract. Power revenues are recognized based on customers usage and are generally
matched with the corresponding costs.

Other services revenue, including managed services and customer installation services, including
equipment sales, are recognized when the services are rendered. Certain installation services and equipment sales, which by their nature are non-recurring, are presented as
Non-Recurring Revenues and are recognized upon delivery of service.

Deferred revenues relating to
invoicing in advance and initial setup fees are carried on the statement of financial position as part of trade payables and other liabilities. Deferred revenues due to be recognized after more than one year are held in non-current liabilities.

Recurring Revenue comprises revenue that is incurred monthly from colocation,
connectivity and associated power charges, office space, amortized set-up fees and certain recurring managed services (but excluding any ad hoc managed services) provided by us directly or through third
parties. Rents received for the sublease of unused sites are excluded.

Costs

Our cost base consists primarily of personnel, power and property costs.



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We employ the majority of our personnel in operations and support roles that operate our data
centers 24 hours a day, 365 days a year. As of December 31, 2016, we employed 600 employees: 359 in operations and support; 121 in sales and marketing; and 120 in general and administrative roles. A data center typically requires a fixed number
of personnel to run, irrespective of customer utilization. Increases in operations and support personnel occur when we bring new data centers into service. Our approach is, where possible, to locate new data centers close to our existing data
centers. In addition to other benefits of proximity, in some cases it also enables us to leverage existing personnel within a data center campus.

In 2016, 2015 and 2014, we invested resources in sales and marketing personnel to engage with our existing and potential customers on an
industry basis. This has enabled us to establish closer relationships with our customers thereby enabling us to understand and anticipate their needs and to forecast demand, helping us plan the scope and timing of our expansion activities.

Our customers equipment consumes significant amounts of power and generates heat. In recent years the amount of power consumed by an
individual piece of equipment, or power density, has increased as processing capacity has increased. In maintaining the correct environmental conditions for the equipment to operate most effectively, our cooling and air conditioning infrastructure
also consumes significant amounts of power. Our power costs are variable and directly dependent on the amount of power consumed by our customers equipment. Our power costs also increase as the Utilization Rate of a data center increases.
Increases in power costs due to increased usage by our customers are generally matched by corresponding increases in power revenues.

The
unit price we pay for our energy also has an impact on our energy costs. We generally enter into contracts with local utility companies to purchase energy at fixed prices for periods of one or two years. Within substantially all of our customer
contracts, we have the right to adjust at any time the price we charge for our power services to enable us to recover increases in the unit price we pay.

We currently hold title to the AMS3, AMS6, BRU1, CPH2, FRA8, FRA10, MRS1, PAR3, PAR5, VIE and DUB3 properties. We exercised certain purchase
options and agreed to purchase the PAR7 freehold land on which we own the PAR7 data center, and the AMS7 freehold land and properties. The PAR7 and AMS7 properties are currently reported as financial leases, and they continue to be reported as such
until the acquisitions are completed.

For the other leased properties on which our data centers are located, we generally seek to secure
property leases for terms of 20 to 25 years. Where possible, we try to mitigate the long-term financial commitment by contracting for initial lease terms for a minimum period of 10 to 15 years with the option for us either to (i) extend the
leases for additional five-year terms or (ii) terminate the leases upon expiration of the initial 10- to 15-year term. Our leases generally have consumer price
index based annual rent increases over the full term of the lease.

Larger increases in our property costs occur when we bring new data
centers into service. This also has the effect of temporarily reducing our overall Utilization Rate while the utilization of the new data center increases as we sell to customers.

In addition, we enter into annual maintenance contracts with our major plant and equipment suppliers. This cost increases as new maintenance
contracts are entered into in support of new data center operations.

Operating Leverage

As a result of the relatively fixed nature of our costs, we generally experience margin expansion as our Utilization Rate at existing data
centers increases. Our margins and the rate of margin expansion will vary based upon the scope and scale of our capacity expansions, which affects our overall Utilization Rate.

EBITDA and Adjusted EBITDA

EBITDA and
Adjusted EBITDA are non-IFRS measures. We believe EBITDA and Adjusted EBITDA provide useful supplemental information to investors regarding our on-going operational performance because these measures help us
and our investors evaluate the on-going operating performance of the business after removing the impact of our capital structure (primarily interest expense) and our asset base (primarily depreciation and
amortization). Management believes that the presentation of Adjusted EBITDA, when combined with the primary IFRS presentation of net income, provides a more complete analysis of our operating performance. Management also believes the use of EBITDA
and Adjusted EBITDA facilitates comparisons between us and other data center operators (including other data center operators that are REITs) and other infrastructure based businesses. EBITDA and Adjusted EBITDA are also relevant measures used in
the financial covenants of our 100.0 million revolving credit facility and our 6.00% Senior Secured Notes due 2020.



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Other companies may present EBITDA and Adjusted EBITDA differently than we do. These measures are
not measures of financial performance under IFRS. None of these measures should not be considered as an alternative to operating income or as a measure of liquidity, or as an alternative to net income as indicators of our operating performance or
any other measure of performance implemented in accordance with IFRS.

We define EBITDA as net income plus income tax expense, net finance
expense, depreciation, amortization and impairment of assets.

We define Adjusted EBITDA as EBITDA adjusted for the following items, which
may occur in any period, and which management believes are not representative of our operating performance:



| |  |  | Share-based payments  primarily the fair value at the date of grant to employees of equity awards, which are recognized as an employee expense over the vesting period. We believe that this expense does not
represent our operating performance.
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | Income or expense related to the evaluation and execution of potential mergers or acquisitions (M&A)  under IFRS, gains and losses associated with M&A activity are recognized in the period in
which such gains or losses are incurred. We exclude these effects because we believe they are not reflective of our on-going operating performance.
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | Adjustments related to terminated and unused data center sites  these gains and losses relate to historical leases entered into for certain brownfield sites, with the intention of developing data centers, which
were never developed and which management has no intention of developing into data centers. We believe the impact of gains and losses related to unused data centers are not reflective of our business activities and our
on-going operating performance.
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

In certain circumstances, we may also adjust for
other items that management believes are not representative of our current on-going performance. Examples include: adjustments for the cumulative effect of a change in accounting principle or estimate,
impairment losses, litigation gains and losses or windfall gains and losses.

For a reconciliation of EBITDA and Adjusted EBITDA to
Operating income and Net income, see Results of operations and EBITDA and Adjusted EBITDA. EBITDA, Adjusted EBITDA and other key performance indicators may not be indicative of our historical results of
operations, nor are they meant to be predictive of future results.

Net Finance Expense

Towards the end of 2006, we started an expansion program of our data centers based on customer demand. This program, closely matched to both
customer demand and available capital resources, has since continued. We do not commit to a phase of an expansion or construction of a data center unless we have cash and committed capital available to complete the phase. Since 2006, we have raised
debt capital to fund our expansion program, which has contributed to increases in our finance expense. During the period of construction of a data center, we capitalize the borrowing costs as part of the construction costs. We refinanced the
Companys debt in February 2010, when we issued 200.0 million of 9.5% Senior Secured Notes, primarily used to repay existing debt, and a further tap offering of 60.0 million in November 2010. In 2013, we issued
325.0 million of 6.0% Senior Secured Notes. The proceeds were used to purchase, redeem and discharge the 260.0 million of 9.5% Senior Secured Notes, pay fees and expenses incurred in connection with the refinancing, and for
other general corporate purposes. In April 2014, we improved our funding to support growth by issuing 150.0 million of 6.00% Senior Secured Notes. This additional financing, combined with a 9.2 million mortgage for our BRU1
data center secured in 2014, was used to repay amounts drawn under our Revolving Facility and to fund further expansion projects. In December 2015, we secured a new 15.0 million mortgage for our FRA8 and FRA10 property, which will be used
for further expansion projects. In addition, in 2016 we issued an additional 150.0 million of 6.00% Senior Secured Notes due 2020 and secured a 14.6 million mortgage on our VIE property.



In the year ended December 31, 2016, our net finance expense
was 36.3 million, which primarily consisted of interest expense of 36.6 million, foreign currency exchange losses of 0.8 million, 0.8 million premium received in connection with the issuance and sale of
the additional 150.0 million 6.00% Senior Secured Notes due 2020, and profit of 0.3 million in connection with the sale of a financial asset. For the full year 2015, our net finance expense primarily consisted of interest
expense of 29.0 million, which primarily consisted of interest expense of 32.3 million, profit from sale of a financial asset of 2.3 million and foreign currency exchange gains of 0.9 million. For the full
year 2014, our net finance expense primarily consisted of interest expense of 26.3 million, refinancing expenses of 0.6 million and interest income of 0.9 million. The increase in net finance expense for the year
ended December 31, 2016, was due primarily to the interest expense on the issuance and sale of the additional 150.0 million 6.00% Senior Secured Notes due 2020 which we issued in April 2016, additional mortgages and the profit on the
sale of our investment in iStreamPlanet 2015 which was presented in the Net Finance Expense, partly offset by an adjustment of a financial lease obligation in France. We capitalized 3.5 million of borrowing costs in connection with the
construction of new data center space in the year ended December 31, 2016, 2.6 million in the year ended December 31, 2015, and 3.6 million in the year ended December 31, 2014.



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We discuss our capital expenditure, including intangible assets and our capital expansion program
below in Liquidity and Capital Resources.

Income Tax Expense

Since inception, we generated significant tax loss carry forwards in all our jurisdictions. In 2006, we became taxable income positive and
began offsetting our tax loss carry forwards against taxable profits. As of December 31, 2016, we have recognized all our tax loss carry forwards. We expect the cash tax rate to trend up over the next two or three years towards underlying
effective tax rate levels.

Segment Reporting

We report our financials in two segments, which we have determined based on our management and internal reporting structure: the first is
France, Germany, The Netherlands and UK and the second is the Rest of Europe, which comprises our operations in Austria, Belgium, Denmark, Ireland, Spain, Sweden and Switzerland. Segment results, assets and liabilities include items directly
attributable to a segment as well as those that can be allocated on a reasonable basis. Unallocated items are presented as Corporate and Other and mainly comprise general and administrative expenses, assets and liabilities associated
with our headquarters operations, provisions for onerous contracts (relating to the discounted amount of future losses expected to be incurred in respect of unused data center sites over the term of the relevant leases, as further explained below)
and revenue and expenses related to those onerous contracts, loans and borrowings and related expenses and income tax assets and liabilities. Segment capital expenditure, and intangible assets is the total cost directly attributable to a segment
incurred during the period to acquire property, plant and equipment.



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Results of operations

Operating results for the years ended December 31, 2016, 2015 and 2014:



|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|------------------------------------------------------------ |  | -------------------------------------- | -------- | - | --------------------------------- |  | -------- | ---- |  |  | -------- | - |  |  | -------- | -
|                                                             |  | Year endedDecember 31,                 |          |   | Year ended December 31,           | 
|                                                             |  | 2016(1)                                |          |   | 2016                              |  |          | 2015 |  |  | 2014     |  
|                                                             |  | (U.S. $000,
except per
share amounts) |          |   | (000, except per share amounts) | 
|Revenues                                                     |  |                                        | 445,071  |   |                                   |  | 421,788  |      |  |  | 386,560  |   |  |  | 340,624  |  
|Cost of sales                                                |  |                                        | (171,542 | ) |                                   |  | (162,568 | )    |  |  | (151,613 | ) |  |  | (139,075 | )
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Gross profit                                                 |  |                                        | 273,529  |   |                                   |  | 259,220  |      |  |  | 234,947  |   |  |  | 201,549  |  
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Other income                                                 |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|M&A transaction break fee income                             |  |                                        |         |   |                                   |  |         |      |  |  | 20,923   |   |  |  |         |  
|Income from sub-leases on unused data center
sites           |  |                                        | 100      |   |                                   |  | 95       |      |  |  | 365      |   |  |  | 271      |  
|(Increase)/decrease in provision for site restoration        |  |                                        | 251      |   |                                   |  | 238      |      |  |  |         |   |  |  |         |  
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Other income                                                 |  |                                        | 351      |   |                                   |  | 333      |      |  |  | 21,288   |   |  |  | 271      |  
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Sales and marketing costs                                    |  |                                        | (31,594  | ) |                                   |  | (29,941  | )    |  |  | (28,217  | ) |  |  | (24,551  | )
|General and administrative costs                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Depreciation, amortization and impairments                   |  |                                        | (94,794  | ) |                                   |  | (89,835  | )    |  |  | (78,229  | ) |  |  | (62,177  | )
|Share-based payments                                         |  |                                        | (6,693   | ) |                                   |  | (6,343   | )    |  |  | (7,161   | ) |  |  | (6,576   | )
|Increase/(decrease) in provision for onerous lease contracts |  |                                        |         |   |                                   |  |         |      |  |  | 184      |   |  |  | 805      |  
|M&A transaction costs                                        |  |                                        | (2,564   | ) |                                   |  | (2,429   | )    |  |  | (11,845  | ) |  |  | (325     | )
|Other general and administrative costs                       |  |                                        | (40,522  | ) |                                   |  | (38,403  | )    |  |  | (35,454  | ) |  |  | (30,611  | )
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|General and administrative costs                             |  |                                        | (144,573 | ) |                                   |  | (137,010 | )    |  |  | (132,505 | ) |  |  | (98,884  | )
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Operating income                                             |  |                                        | 97,713   |   |                                   |  | 92,602   |      |  |  | 95,513   |   |  |  | 78,385   |  
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Net finance expense                                          |  |                                        | (38,271  | ) |                                   |  | (36,269  | )    |  |  | (29,022  | ) |  |  | (27,876  | )
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Profit before taxation                                       |  |                                        | 59,442   |   |                                   |  | 56,333   |      |  |  | 66,491   |   |  |  | 50,509   |  
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Income tax (expense)/income                                  |  |                                        | (17,358  | ) |                                   |  | (16,450  | )    |  |  | (17,925  | ) |  |  | (15,449  | )
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Net income                                                   |  |                                        | 42,084   |   |                                   |  | 39,883   |      |  |  | 48,566   |   |  |  | 35,060   |  
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Basic earnings per share                                     |  |                                        | 0.60     |   |                                   |  | 0.57     |      |  |  | 0.70     |   |  |  | 0.51     |  
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  
|Adjusted EBITDA(2)                                           |  |                                        | 201,413  |   |                                   |  | 190,876  |      |  |  | 171,276  |   |  |  | 146,387  |  
|                                                             |  |                                        |          |   |                                   |  |          |      |  |  |          |   |  |  |          |  



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Operating results as a percentage of revenues for the years ended December 31, 2016, 2015
and 2014:



|                                                             |  |                         |       |  |      |  |       |      |  |  |       | 
|------------------------------------------------------------ |  | ----------------------- | ----- |  | ---- |  | ----- | ---- |  |  | ----- | 
|                                                             |  | Year Ended December 31, |      
|                                                             |  | 2016                    |       |  | 2015 |  |       | 2014 | 
|Revenues                                                     |  |                         | 100%  |  |      |  | 100%  |      |  |  | 100%  | 
|Cost of sales                                                |  |                         | (39%) |  |      |  | (39%) |      |  |  | (41%) | 
|                                                             |  |                         |       |  |      |  |       |      |  |  |       | 
|Gross profit                                                 |  |                         | 61%   |  |      |  | 61%   |      |  |  | 59%   | 
|                                                             |  |                         |       |  |      |  |       |      |  |  |       | 
|Other income                                                 |  |                         |       |  |      |  |       |      |  |  |       | 
|M&A transaction break fee income                             |  |                         | 0%    |  |      |  | 5%    |      |  |  | 0%    | 
|Income from sub-leases on unused data center
sites           |  |                         | 0%    |  |      |  | 0%    |      |  |  | 0%    | 
|                                                             |  |                         |       |  |      |  |       |      |  |  |       | 
|Other income                                                 |  |                         | 0%    |  |      |  | 5%    |      |  |  | 0%    | 
|                                                             |  |                         |       |  |      |  |       |      |  |  |       | 
|Sales and marketing costs                                    |  |                         | (7%)  |  |      |  | (7%)  |      |  |  | (7%)  | 
|General and administrative costs                             |  |                         |       |  |      |  |       |      |  |  |       | 
|Depreciation, amortization and impairments                   |  |                         | (21%) |  |      |  | (20%) |      |  |  | (18%) | 
|Share-based payments                                         |  |                         | (2%)  |  |      |  | (2%)  |      |  |  | (2%)  | 
|(Increase)/decrease in provision for onerous lease contracts |  |                         | 0%    |  |      |  | 0%    |      |  |  | 0%    | 
|M&A transaction costs                                        |  |                         | (1%)  |  |      |  | (3%)  |      |  |  | (0%)  | 
|Other general and administrative costs                       |  |                         | (9%)  |  |      |  | (9%)  |      |  |  | (9%)  | 
|                                                             |  |                         |       |  |      |  |       |      |  |  |       | 
|General and administrative costs                             |  |                         | (32%) |  |      |  | (34%) |      |  |  | (29%) | 
|                                                             |  |                         |       |  |      |  |       |      |  |  |       | 
|Operating income                                             |  |                         | 22%   |  |      |  | 25%   |      |  |  | 23%   | 
|                                                             |  |                         |       |  |      |  |       |      |  |  |       | 
|Net finance expense                                          |  |                         | (9%)  |  |      |  | (8%)  |      |  |  | (8%)  | 
|                                                             |  |                         |       |  |      |  |       |      |  |  |       | 
|Profit before taxation                                       |  |                         | 13%   |  |      |  | 17%   |      |  |  | 15%   | 
|                                                             |  |                         |       |  |      |  |       |      |  |  |       | 
|Income tax (expense)/income                                  |  |                         | (4%)  |  |      |  | (5%)  |      |  |  | (5%)  | 
|                                                             |  |                         |       |  |      |  |       |      |  |  |       | 
|Net profit                                                   |  |                         | 9%    |  |      |  | 13%   |      |  |  | 10%   | 
|                                                             |  |                         |       |  |      |  |       |      |  |  |       | 
|Adjusted EBITDA(2)                                           |  |                         | 45%   |  |      |  | 44%   |      |  |  | 43%   | 
|                                                             |  |                         |       |  |      |  |       |      |  |  |       | 



Notes:

|(1) | The operating results for the year ended December 31, 2016, have been translated for convenience only based on the noon buying rate in The City of New York for cable transfers of euro as certified for customs
purposes by the Federal Reserve Bank of New York as of December 31, 2016, and for euro into U.S. dollars of 1.00 = U.S. 1.0552. See Item 3 Key InformationExchange Rate Information for additional information.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(2) | We define EBITDA as net income plus income tax expense, net finance expense, depreciation, amortization and impairment of assets. We define Adjusted EBITDA as EBITDA adjusted for share-based payments, income or expense
related to the evaluation and execution of potential mergers or acquisitions (M&A), and adjustments related to terminated and unused data center sites. In certain circumstances, we may also adjust for other items that management
believes are not representative of our current on-going performance. See IntroductionNon-IFRS Measures, Key Aspects of Our Financial ModelEBITDA and Adjusted EBITDA
and EBITDA and Adjusted EBITDA for a more detailed description.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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Reconciliation of Net income to EBITDA and EBITDA to Adjusted EBITDA, for the periods
indicated:



|                                                                |  |                        |         |   |                         |  |         |      |  |  |         |   |  |  |         |  
|--------------------------------------------------------------- |  | ---------------------- | ------- | - | ----------------------- |  | ------- | ---- |  |  | ------- | - |  |  | ------- | -
|                                                                |  | Year EndedDecember 31, |         |   | Year Ended December 31, | 
|                                                                |  | 2016*                  |         |   | 2016                    |  |         | 2015 |  |  | 2014    |  
|                                                                |  | (U.S. $000)           |         |   | (000)                 | 
|Other financial data                                            |  |                        |         |   |                         |  |         |      |  |  |         |   |  |  |         |  
|Net income                                                      |  |                        | 42,084  |   |                         |  | 39,883  |      |  |  | 48,566  |   |  |  | 35,060  |  
|Income tax (expense)/income                                     |  |                        | 17,358  |   |                         |  | 16,450  |      |  |  | 17,925  |   |  |  | 15,449  |  
|                                                                |  |                        |         |   |                         |  |         |      |  |  |         |   |  |  |         |  
|Profit before taxation                                          |  |                        | 59,442  |   |                         |  | 56,333  |      |  |  | 66,491  |   |  |  | 50,509  |  
|Net finance expense                                             |  |                        | 38,271  |   |                         |  | 36,269  |      |  |  | 29,022  |   |  |  | 27,876  |  
|                                                                |  |                        |         |   |                         |  |         |      |  |  |         |   |  |  |         |  
|Operating income                                                |  |                        | 97,713  |   |                         |  | 92,602  |      |  |  | 95,513  |   |  |  | 78,385  |  
|Depreciation, amortization and impairments                      |  |                        | 94,794  |   |                         |  | 89,835  |      |  |  | 78,229  |   |  |  | 62,177  |  
|                                                                |  |                        |         |   |                         |  |         |      |  |  |         |   |  |  |         |  
|EBITDA                                                          |  |                        | 192,507 |   |                         |  | 182,437 |      |  |  | 173,742 |   |  |  | 140,562 |  
|                                                                |  |                        |         |   |                         |  |         |      |  |  |         |   |  |  |         |  
|Share-based payments                                            |  |                        | 6,693   |   |                         |  | 6,343   |      |  |  | 7,161   |   |  |  | 6,576   |  
|(Increase)/decrease in provision for onerous lease contracts(a) |  |                        |        |   |                         |  |        |      |  |  | (184    | ) |  |  | (805    | )
|M&A transaction break fee income                                |  |                        |        |   |                         |  |        |      |  |  | (20,923 | ) |  |  |        |  
|M&A transaction costs                                           |  |                        | 2,564   |   |                         |  | 2,429   |      |  |  | 11,845  |   |  |  | 325     |  
|Income from sub-leases on unused data center
sites              |  |                        | (100    | ) |                         |  | (95     | )    |  |  | (365    | ) |  |  | (271    | )
|Increase/(decrease) in provision for site restoration           |  |                        | (251    | ) |                         |  | (238    | )    |  |  |        |   |  |  |        |  
|                                                                |  |                        |         |   |                         |  |         |      |  |  |         |   |  |  |         |  
|Adjusted EBITDA*                                                |  |                        | 201,413 |   |                         |  | 190,876 |      |  |  | 171,276 |   |  |  | 146,387 |  
|                                                                |  |                        |         |   |                         |  |         |      |  |  |         |   |  |  |         |  



Notes:

|* | References are to the footnotes above.
|- | --------------------------------------

|(a) | (Increase)/decrease in provision for onerous lease contracts does not reflect the income from subleases on unused data center sites.
|--- | --------------------------------------------------------------------------------------------------------------------------------------



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Some of our key performance indicators as of the dates indicated:



|                                  |  |                    |         |   |      |  |         |      |  |  |        |  
|--------------------------------- |  | ------------------ | ------- | - | ---- |  | ------- | ---- |  |  | ------ | -
|                                  |  | As of December 31, |        
|                                  |  | 2016               |         |   | 2015 |  |         | 2014 | 
|Equipped Space(1) (square meters) |  |                    | 110,800 |   |      |  | 101,200 |      |  |  | 93,500 |  
|Utilization Rate(2) (%)           |  |                    | 79      | % |      |  | 78      | %    |  |  | 76     | %



Notes:

|(1) | Equipped Space is the amount of data center space that, on the date indicated, is equipped and either sold or could be sold, without making any additional investments to common infrastructure. Equipped Space at a
particular data center may decrease if either (a) the power requirements of customers at such data center change so that all or a portion of the remaining space can no longer be sold because the space does not have enough power and/or common
infrastructure to support it without further investment or (b) if the design and layout of a data center changes to meet, among others, fire regulations or customer requirements, and necessitates the introduction of common space, such as
corridors, which cannot be sold to individual customers.
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(2) | Utilization Rate is, on the relevant date, Revenue Generating Space as a percentage of Equipped Space; some Equipped Space is not fully utilized due to customers specific requirements on the layout of their
equipment. In practice, therefore, Utilization Rate may not reach 100%.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Years Ended December 31, 2016 and 2015

Revenue

Revenue for the years ended
December 31, 2016 and 2015:



|                      |  |                             |         |  |        |  |     |      |  |  |         |  |  |   |     |  |   |  |        |  |  |  |    | 
|--------------------- |  | --------------------------- | ------- |  | ------ |  | --- | ---- |  |  | ------- |  |  | - | --- |  | - |  | ------ |  |  |  | -- | 
|                      |  | Year ended December 31,     |         |  | Change | 
|                      |  | 2016                        |         |  | %      |  |     | 2015 |  |  | %       |  |  |  |     |  | % | 
|                      |  | (000, except percentages) |        
|Recurring Revenue     |  |                             | 399,958 |  |        |  | 95  |      |  |  | 365,175 |  |  |   | 94  |  |   |  | 34,783 |  |  |  | 10 | 
|Non-Recurring Revenue |  |                             | 21,830  |  |        |  | 5   |      |  |  | 21,385  |  |  |   | 6   |  |   |  | 445    |  |  |  | 2  | 
|                      |  |                             |         |  |        |  |     |      |  |  |         |  |  |   |     |  |   |  |        |  |  |  |    | 
|Revenue               |  |                             | 421,788 |  |        |  | 100 |      |  |  | 386,560 |  |  |   | 100 |  |   |  | 35,228 |  |  |  | 9  | 
|                      |  |                             |         |  |        |  |     |      |  |  |         |  |  |   |     |  |   |  |        |  |  |  |    | 

Revenue increased to 421.8 million for the year ended December 31, 2016, from
386.6 million for the year ended December 31, 2015, an increase of 9%. Recurring Revenue increased by 10% and non-Recurring Revenue was 5% of total revenue for the year ended December 31,
2016, and 6% of total revenue for the year ended December 31, 2015. The periodover-period growth in Recurring Revenue was primarily the result of an increase of approximately 8,100 square meters in Revenue Generating Space as a result of
sales both to existing and new customers in all our regions.



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Cost of Sales

Cost of sales increased to 162.6 million for the year ended December 31, 2016, from 151.6 million for the year ended
December 31, 2015, an increase of 7%. Cost of sales was 39% of revenue for each of the years ended December 31, 2016, and 2015. The increase in cost of sales related to our overall revenue growth and data center expansion projects,
including (i) an increase of 5.8 million in energy usage costs, (ii) an increase of 2.1 million in maintenance costs, and (iii) an increase of 2.1 million in costs for operation and support personnel
commensurate with growth. Equipped Space increased by approximately 9,600 square meters during the year ended December 31, 2016, as a result of expansions to existing data centers in Dusseldorf, Frankfurt, Marseille, Paris, Stockholm and
Vienna, and to the construction of new data centers in Amsterdam, Copenhagen, Dublin and Frankfurt. We expect cost of sales as a percentage of revenue to decrease as we increase utilization at our existing facilities. This decrease may be offset by
the impact of lower utilization in new data centers we open as part of our data center expansion projects.

Other Income

Other income represents income that we do not consider part of our core business. It includes transaction
break-fee income, income from the subleases on unused data center sites, and any increase/(decrease) in provisions for site restoration.

Sales and Marketing Costs

Our sales and
marketing costs increased to 29.9 million for the year ended December 31, 2016, from 28.2 million for the year ended December 31, 2015, an increase of 6%. Sales and marketing costs were 7% of revenue for each of the
years ended December 31, 2016, and 2015.

The increase in sales and marketing costs was primarily a result of increased compensation
and related costs as a result of increases in employee headcount and marketing expenses associated with our continued strategy to invest in our industry-focused customer development and acquisition approach.

General and Administrative Costs

General
and administrative costs consist of depreciation, amortization and impairments, share-based payments, increase/(decrease) in provision for onerous lease contracts and other general and administrative costs.

Depreciation, amortization and impairments increased to 89.8 million for the year ended December 31, 2016, from
78.2 million for the year ended December 31, 2015, an increase of 15%. Depreciation, amortization and impairments was 21% of revenue for the year ended December 31, 2016, and 20% for the year ended December 31, 2015. The
increase was a result of new data centers and data center expansions.

In determining Adjusted EBITDA we add back share-based payments.
For the year ended December 31, 2016, we recorded share-based payments of 6.3 million, a decrease of 11% from the year ended December 31, 2015. In determining Adjusted EBITDA we also add back increase/(decrease) in provision for
onerous lease contracts and the changes in the provision for site restoration. Finally, we also add back M&A transaction related costs and income, which included 2.4 million of expenses in 2016 and 9.1 million of income in
2015.

Other general and administrative costs increased to 38.4 million for the year ended December 31, 2016, from
35.5 million for the year ended December 31, 2015, an increase of 8%. Other general and administrative costs were 9% of revenue for the years ended December 31, 2016 and December 31, 2015. The increase in the other general
and administrative costs was due to an increase in the costs for professional advisory services, insurance and an increase in salaries associated with a larger headcount and higher external hires.

Net Finance Expense

Net finance expense
increased to 36.3 million for the year ended December 31, 2016 from 29.0 million for the year ended December 31, 2015, an increase of 25%. Net finance expense was 9% of revenue for the year ended December 31,
2016 and 8% of revenue for the year ended December 31, 2015. The increase in net finance expense for the year ended December 31, 2016, was primarily due to the impact of the issuance in April 2016 of the 150.0 million 6.00%
Senior Secured Notes due 2020, additional



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mortgage financing for our VIE property, and a new finance lease for our AMS8 data center. In addition, the net finance expense in 2015 was positively affected by the profit from the sale of our
iStream shares, amounting to 2.3 million. In the year ended December 31, 2016, we capitalized 3.5 million of borrowing costs during the period of construction of new data center space, compared with 2.6 million
in the year ended December 31, 2015.

Income Taxes

Income tax expense was 16.4 million for the year ended December 31, 2016, compared with 17.9 million for the year
ended December 31, 2015. The decrease in income tax expense was primarily a result of a decrease in profit before tax in 2016 due to the net impact of M&A transaction costs and M&A break
fee-related income in 2015, but was partly offset by the shift in profits from countries with a lower tax rate to countries with a higher tax rate. The effective income tax rate of 29% in the year ended
December 31, 2016, compared with 27% for the year ended December 31, 2015, was affected by the shift in profits from countries with a lower tax rate to countries with a higher tax rate and the recognition of previously unrecognized tax
losses.

We recorded current tax expenses of 11.4 million for the year ended December 31, 2016, and 9.2 million
for the year ended December 31, 2015. We recorded a deferred tax expense of 5.0 million for the year ended December 31, 2016, and a deferred tax expense of 8.8 million for the year ended December 31, 2015.
Deferred tax is charged for the annual movements in temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The increase in current tax expenses is
mainly due to the increased contribution from profits in countries with low tax rates to countries with high tax rates. The decrease in deferred tax expenses was mainly due to the use of previously unrecognized tax losses, and the revaluation of
deferred tax positions due to the change in certain tax rates.

Years Ended December 31, 2015 and 2014

Revenue

Our revenue for the years ended
December 31, 2015 and 2014:



|                      |  |                             |         |  |        |  |     |      |  |  |         |  |  |   |     |  |   |  |        |   |  |  |    |  
|--------------------- |  | --------------------------- | ------- |  | ------ |  | --- | ---- |  |  | ------- |  |  | - | --- |  | - |  | ------ | - |  |  | -- | -
|                      |  | Year ended December 31,     |         |  | Change | 
|                      |  | 2015                        |         |  | %      |  |     | 2014 |  |  | %       |  |  |  |     |  | % | 
|                      |  | (000, except percentages) |        
|Recurring Revenue     |  |                             | 365,175 |  |        |  | 94  |      |  |  | 319,184 |  |  |   | 94  |  |   |  | 45,991 |   |  |  | 14 |  
|Non-Recurring Revenue |  |                             | 21,385  |  |        |  | 6   |      |  |  | 21,440  |  |  |   | 6   |  |   |  | (55    | ) |  |  | (0 | )
|                      |  |                             |         |  |        |  |     |      |  |  |         |  |  |   |     |  |   |  |        |   |  |  |    |  
|Revenue               |  |                             | 386,560 |  |        |  | 100 |      |  |  | 340,624 |  |  |   | 100 |  |   |  | 45,936 |   |  |  | 13 |  
|                      |  |                             |         |  |        |  |     |      |  |  |         |  |  |   |     |  |   |  |        |   |  |  |    |  

Revenue increased to 386.6 million for the year ended December 31, 2015, from
340.6 million for the year ended December 31, 2014, an increase of 13%. Recurring Revenue increased by 14% and non-Recurring Revenue remained stable at 6% of total revenues from the year ended
December 31, 2014, to the year ended December 31, 2015. The period over period growth in Recurring Revenue was primarily the result of an increase of approximately 8,100 square meters in Revenue Generating Space as a result of sales to
both existing and new customers in all our regions.

Cost of Sales

Cost of sales increased to 151.6 million for the year ended December 31, 2015, from 139.1 million for the year ended
December 31, 2014, an increase of 9%. Cost of sales was 39% of revenue for the year ended December 31, 2015 and 41% for the year ended December 31, 2014. The increase in cost of sales related to our overall revenue growth and data
center expansion projects, including (i) an increase of 5.9 million in energy usage costs and (ii) an increase of 3.5 million higher cost for operation and support personnel commensurate with growth. Equipped Space
increased by approximately 7,700 square meters during the year ended December 31, 2015 as a result of expansions to existing data centers in Amsterdam, Vienna, Madrid, Marseille and Zurich, the construction of new data centers in Stockholm and
Dusseldorf, and the closure of Hilversum. We expect cost of sales as a percentage of revenue to decrease as we increase utilization at our existing facilities. This decrease may be offset by the impact of lower utilization in new data centers we
open as part of our data center expansion projects.



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Other Income

Other income represents income that we do not consider to be part of our core business. It includes transaction break fee income and income
from the subleases on unused data center sites.

Sales and Marketing Costs

Our sales and marketing costs increased to 28.2 million for the year ended December 31, 2015, from 24.6 million for
the year ended December 31, 2014, an increase of 15%. Sales and marketing costs were 7% of revenue for each of the years ended December 31, 2015 and 2014.

The increase in sales and marketing costs was primarily a result of increased compensation and related costs as a result of increases in
employee headcount and marketing expenses associated with our continued strategy to invest in our industry-focused customer development and acquisition approach.

General and Administrative Costs

General
and administrative costs consist of depreciation, amortization and impairments, share-based payments, increase/(decrease) in provision for onerous lease contracts and other general and administrative costs.

Depreciation, amortization and impairments increased to 78.2 million for the year ended December 31, 2015, from
62.2 million for the year ended December 31, 2014, an increase of 26%. Depreciation, amortization and impairments was 20% of revenue for the year ended December 31, 2015, and 18% for the year ended December 31, 2014. The
increase was a result of new data centers and data center expansions.

In determining Adjusted EBITDA, we add back share-based payments.
For the year ended December 31, 2015, we recorded share-based payments of 7.2 million, an increase of 9% from the year ended December 31, 2014. The increase was primarily due to new grants of options, restricted shares and
performance shares in 2015. In determining Adjusted EBITDA, we also add back increase/(decrease) in provision for onerous lease contracts. Following our annual review of the provision for onerous lease contracts, the Company decreased the provision
by 0.2 million in 2015, while in 2014 the provision was decreased by 0.8 million. Finally, we also add back M&A transaction related costs and income, which included 9.1 million of income in 2015 and
0.3 million of expenses in 2014.

Other general and administrative costs increased to 35.5 million for the year
ended December 31, 2015, from 30.6 million for the year ended December 31, 2014, an increase of 16%. Other general and administrative costs were 9% of revenue for the years ended December 31, 2015 and December 31,
2014. The increase in the other general and administrative costs was due both to an increase of compensation costs principally resulting from an increase in salaries associated with an increased headcount and higher external hires and to an increase
in the costs for professional advisory services.

Net Finance Expense

Net finance expense increased to 29.0 million for the year ended December 31, 2015 from 27.9 million for the year
ended December 31, 2014, an increase of 4%. Net finance expense was 8% of revenue for the years ended December 31, 2015, and December 31, 2014. The increase in net finance expense for the year ended December 31, 2015 was due
primarily the result of the full year impact of the 150.0 million Additional Notes issued in April 2014 and lower capitalization of borrowing costs during the period of construction of new data center space. In the year ended
December 31, 2015 we capitalized 2.6 million compared with 3.6 million in the year ended December 31, 2014. In addition, the net finance expense is impacted by the gain on the sale of our financial asset in 2015,
amounting to 2.3 million.

Income Taxes

Income tax expense was 17.9 million for the year ended December 31, 2015 compared with 15.4 million for the year
ended December 31, 2014. The increase in income tax expense was primarily due to an increase in profit before tax in 2015 as a result of the net impact of M&A transaction costs and M&A break fee related income, which was taxable in The
Netherlands, our country of domicile, at 25%. The effective income tax rate of 27% in the year ended December 31, 2015, compared with 31% for the year ended December 31, 2014, was, in addition to the aforementioned net impact of M&A
transaction costs and M&A break fee related income which was taxable in our country of domicile, positively affected by the recognition of previously unrecognized tax losses and the profit mix.



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We recorded current tax expenses of 9.2 million for the year ended December 31,
2015 and 8.9 million for the year ended December 31, 2014. We recorded a deferred tax expense of 8.8 million for the year ended December 31, 2015, and a deferred tax expense of 6.5 million for the year
ended December 31, 2014. Deferred tax is charged for the annual movements in temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The main item
triggering the increase in deferred tax expenses was the net impact of M&A transaction costs and M&A break fee related income in The Netherlands, where we had unrealized tax losses available.

Liquidity and Capital Resources

As of
December 31, 2016, our total indebtedness consisted of (i) 625.0 million 6.00% Senior Secured Notes due 2020, (ii) other debt and finance lease obligations totaling 51.7 million and (iii) mortgages totaling
54.4 million. The borrowing requirements of the Company are not subject to significant seasonality. Under our Revolving Facility, interest is based on a floating rate index. The interest expense on the remainder of our outstanding
indebtedness is based on a fixed rate, except for our mortgages. Our PAR3, PAR5, BRU1, AMS3, AMS6, FRA8/FRA10 and VIE mortgages are subject to a floating interest rate of EURIBOR plus an individual margin ranging from 195 to 275 basis points. The
interest rates on the mortgages secured by our PAR3 and PAR5 properties have been swapped to a fixed rate for approximately 75% of the principal outstanding amounts for a period of ten years.

As of December 31, 2016, the interest payable under the Revolving Facility on (i) any EUR amounts drawn would be at the rate of
EURIBOR plus 350 basis points per annum, (ii) any Danish kroner amounts drawn would be at the rate of CIBOR plus 350 basis points per annum, (iii) any Swedish Krona amounts drawn would be at the rate of STIBOR plus 350 basis points per
annum and (iv) other applicable currencies, including GBP, amounts drawn at the rate of LIBOR plus 350 basis points per annum. The Revolving Facility was undrawn as of December 31, 2016.

Historically, we have made significant investments in our property, plant and equipment and intangible assets in order to expand our data
center footprint and total Equipped Space as we have grown our business. In the year ended December 31, 2016, we invested 250.9 million in property, plant and equipment (242.0 million) and intangible assets (8.9 million),
of which 228.8 million was attributed to expansion capital expenditure and the remainder was attributed to maintenance and other capital expenditure. In the year ended December 31, 2015, we invested 192.6 million in
property, plant and equipment (186.1 million), and intangible assets (6.5 million), of which 175.7 million was attributed to expansion capital expenditure and the remainder was attributed to maintenance and other capital
expenditure. In the year ended December 31, 2014 we invested 216.3 million in property, plant and equipment (213.0 million) and intangible assets (3.3 million), of which 198.7 million, including acquisition of
MRS1 data center (8.0 million), was attributed to expansion capital expenditure and the remainder was attributed to maintenance and other capital expenditure. Although in any one year the amount of maintenance and replacement capital
expenditure may vary, we expect that long-term such expenses will be between 4% and 6% of total revenue.

As of December 31, 2016, we
had 115.9 million of cash and cash equivalents. A limited amount of the Companys total cash balance may be subject to certain restrictions in select countries and cannot be repatriated without a tax implication. The amount of cash
that cannot be repatriated without a tax implication is negligible to the total liquidity of our business.

As of December 31, 2016,
our 100.0 million Revolving Facility remained undrawn.

Our policy is to maintain a strong capital base so as to maintain
investor, creditor and market confidence and to sustain future development of the business. We monitor the return on capital. See Note 21 to our 2016 consolidated financial statements Financial instruments for more details about capital
management.



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##### Table of Contents

Sources and Uses of Cash



|                                                   |  |                         |          |   |      |  |          |      |  |  |          |  
|-------------------------------------------------- |  | ----------------------- | -------- | - | ---- |  | -------- | ---- |  |  | -------- | -
|                                                   |  | Year ended December 31, |         
|                                                   |  | 2016                    |          |   | 2015 |  |          | 2014 | 
|                                                   |  | (000)                 |         
|Cash generated from operations                     |  |                         | 183,388  |   |      |  | 169,388  |      |  |  | 135,418  |  
|Net cash flows from/(used in) operating activities |  |                         | 139,397  |   |      |  | 127,070  |      |  |  | 104,418  |  
|Net cash flows from/(used in) investing activities |  |                         | (251,400 | ) |      |  | (187,505 | )    |  |  | (219,135 | )
|Net cash flows from/(used in) financing activities |  |                         | 173,959  |   |      |  | 18,190   |      |  |  | 167,628  |  

Net cash flows from/(used in) operating activities

The increase in net cash flows from operating activities in the year ended December 31, 2016, compared to the year ended December 31,
2015, was primarily due to our improved operating performance and improved net working capital movements. In addition, the operating cash flow in 2015 was affected by the 9.1 million net impact of M&A transaction break-fee income and M&A transaction cost. The increase in net cash flows from operating activities in the year ended December 31, 2015, compared with the year ended December 31, 2014, was primarily a
result of our improved operating performance.

Net cash flows from/(used in) investing activities

The increase in net cash flow used in investing activities in the year ended December 31, 2016, compared with the year ended
December 31, 2015, was primarily a result of higher investments in data center assets in 2016. Capital expenditure in the year ended December 31, 2016, primarily related to the addition and expansion of data centers in Frankfurt,
Amsterdam, Paris, Dublin, Vienna and Marseille. The decrease in net cash flows used in investing activities in the year ended December 31, 2015, compared with the year ended December 31, 2014, was primarily due to lower investments in data
center assets in 2015, partially offset by 3.1 million of cash proceeds from the sale of a financial asset. Capital expenditure in the year ended December 31, 2015, primarily related to the addition and expansion of data centers in
Amsterdam, Marseille, Vienna, Frankfurt and Stockholm.

Net cash flows from /(used in) financing activities

Net cash flows from financing activities during the year ended December 31, 2016, were principally the result of 155.3 million
in net proceeds from the offering of the additional 150.0 million 6.00% Senior Secured Notes due 2020 and 14.6 million in gross proceeds drawn under the new mortgage on our VIE property. Net cash flows from financing activities
during the year ended December 31, 2015, were principally the result of the 14.9 million proceeds from the new mortgage on our FRA8 and FRA10 data centers, which we drew in December 2015, and 5.7 million proceeds from the
exercises of stock options under our Equity-based incentive plan. This was partially offset by repayments on mortgages in The Netherlands, France and Belgium. Net cash flows from financing activities during the year ended December 31, 2014,
were principally the result of 157.9 million in net proceeds from the offering of the Additional Notes due 2020 and 9.2 million in gross proceeds drawn under the new mortgage on our BRU1 property.

We anticipate that cash flows from operating activities and available credit from our Revolving Facility will be sufficient to meet our
operating requirements on a short-term (12 month) and long-term basis, including repayment of the current portion as of December 31, 2016, of our debt as it becomes due, and to complete our publicly announced expansion projects.

The Company assesses its capital raising and refinancing needs on an on-going basis and may enter into
additional credit facilities and seek to issue equity and/or debt securities in the domestic and international capital markets if market conditions are favorable. Also, depending on market conditions, the Company may elect to repurchase portions of
its debt securities in the open market, pursuant to the redemption provisions in the applicable indenture or otherwise.

Optional Redemption of the
Senior Secured Notes

At any time on or after July 15, 2016, and before maturity, upon not less than 10 and not more than 60
days notice, we may redeem all or part of the Senior Secured Notes. These redemptions will be in amounts of 100,000 or integral multiples of 1,000 in excess thereof at the following redemption prices (expressed as percentages of
their principal amount at maturity), plus accrued



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and unpaid interest, if any, to the redemption date, if redeemed during the 12-month period commencing on July 15 of the years set forth below.



|                    |  |                  |         |  
|------------------- |  | ---------------- | ------- | -
|Year                |  | Redemption price |        
|2016                |  |                  | 104.500 | %
|2017                |  |                  | 103.000 | %
|2018                |  |                  | 101.500 | %
|2019 and thereafter |  |                  | 100.000 | %

Any optional redemption or notice thereof may, at our discretion, be subject to one or more conditions
precedent.

Redemption Upon Changes in Withholding Taxes

We may, at our option, redeem the Notes, in whole but not in part, at any time upon giving not less than 10 and not more than 60 days
notice to the Holders, at a redemption price equal to 100% of the principal amount thereof, together with accrued and unpaid interest thereon, if any, to the redemption date and all Additional Amounts, if any, then due and which will become due on
the date of redemption as a result of the redemption or otherwise, if we determine in good faith that we or any guarantor is or, on the next date on which any amount would be payable in respect of the Notes, would be obliged to pay Additional
Amounts which are more than a de minimis amount in respect of the Notes or the Guarantees pursuant to the terms and conditions thereof, which we or any guarantor cannot avoid by the use of reasonable measures available to it (including making
payment through a paying agent located in another jurisdiction), as a result of:



| | (a) | any change in, or amendment to, the laws (or any regulations or rulings promulgated thereunder) of any relevant taxing jurisdiction affecting taxation, which becomes effective on or after the date of the Indenture or,
if the relevant taxing jurisdiction has changed since the date of the Indenture, on or after the date on which the then current relevant taxing jurisdiction became the relevant taxing jurisdiction under the Indenture; or
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | any change in the official application, administration, or interpretation of the laws, treaties, regulations or rulings of any relevant taxing jurisdiction (including a holding, judgment or order by a court of competent
jurisdiction) on or after the date of the Indenture or, if the relevant taxing jurisdiction has changed since the date of the Indenture, on or after the date on which the then current relevant taxing jurisdiction became the relevant taxing
jurisdiction under the Indenture (each of the foregoing clauses (a) and (b), a Change in Tax Law).
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The
Notes also contain standard change of control provisions, which require the Company to make an offer to each holder of Notes to purchase such holders Notes in cash equal to 101% of the principal amount thereof, plus accrued and unpaid
interest, if any, to the date of purchase, upon the occurrence of a change of control (as defined in the indenture for the Notes).

Definitions:

Additional Amounts means amounts the Issuer or Guarantor, as the case may be, shall pay as may be necessary so that the
net amount received by each Holder of the Notes (including Additional Amounts) after withholding or deduction on account of any such taxes from any payment made under or with respect to the Notes shall be not less than the amount that such Holder
would have received if such taxes had not been required to be withheld or deducted.

Applicable Redemption Premium means, with
respect to any Note on any redemption date, the greater of:



| | a) | 1.0% of the principal amount of the Note; and
| | -- | ---------------------------------------------



| | b) | the excess of:
| | -- | --------------



| | (i) | the present value at such redemption date of: (x) the redemption price of such Note at July 15, 2016 (such redemption price being set forth in the table appearing on the face of the Notes); plus (y) all
required interest payments that would otherwise be due to be paid on such Note during the period between the redemption date and July 15, 2016 (excluding accrued but unpaid interest), computed using a discount rate equal to the bund rate plus
50 basis points; over
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (ii) | the outstanding principal amount of the Note.
| | ---- | ---------------------------------------------

For the avoidance of doubt, calculation of the
Applicable Redemptions Premium shall not be a duty or obligation of the trustee or any paying agent.

Holder means the person
in whose name a Note is recorded on the registrars books.



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Indenture means the indenture dated as of July 3, 2013, among InterXion Holding
N.V., as Issuer, InterXion Belgium N.V., InterXion Danmark ApS, InterXion Carrier Hotel Limited, InterXion Österreich GmbH, InterXion Datacenters B.V., InterXion Deutschland GmbH, Interxion España S.A., InterXion France SAS, InterXion
HeadQuarters B.V., InterXion Ireland DAC, InterXion Nederland B.V. and InterXion Operational B.V., as initial guarantors, The Bank of New York Mellon, London Branch, as trustee, principal paying agent and transfer agent, The Bank of New York Mellon
(Luxembourg) S.A., as registrar and Luxembourg paying agent and Barclays Bank PLC, as security trustee, as may be amended or supplemented from time to time.

Issuer means InterXion Holding N.V.

Notes means the 625.0 million 6.00% Senior Secured Notesdue 2020, including Additional Notes issued under the Indenture.

Restrictive Covenants Under Certain Financing Agreements

The Revolving Facility Agreement between, among others, the Company as original borrower, the Lenders and Barclays Bank PLC as agent and
security trustee, provides for the 100.0 million Revolving Facility.

Revolving Facility

Failure to comply with the financial covenants in our 100.0 million Revolving Facility Agreement would result in an event of
default, which may cause all amounts outstanding under the facility to become immediately due and payable. Acceleration of such outstanding amounts under the facility may lead to an event of default under the indenture governing our
625.0 million 6.00% Senior Secured Notes. Failure to satisfy the financial covenants in the indenture would result in our inability to incur additional debt under certain circumstances.

The Revolving Facility Agreement contains various covenants that restrict, among other things and subject to certain exceptions, the ability
of the Company and its subsidiaries to:



| |  |  | create certain liens;
| | - |  | ---------------------



| |  |  | incur debt and/or guarantees;
| | - |  | -----------------------------



| |  |  | enter into transactions other than at arms-length basis;
| | - |  | ---------------------------------------------------------



| |  |  | pay dividends or make certain distributions or payments;
| | - |  | --------------------------------------------------------



| |  |  | engage, in relation to the Company, in any business activity or own assets or incur liabilities not authorized by the Revolving Facility Agreement;
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | sell certain kinds of assets;
| | - |  | -----------------------------



| |  |  | enter into any sale and leaseback transactions;
| | - |  | -----------------------------------------------



| |  |  | make certain investments or other types of restricted payments;
| | - |  | ---------------------------------------------------------------



| |  |  | substantially change the nature of the Company or the Groups business;
| | - |  | -----------------------------------------------------------------------



| |  |  | designate unrestricted subsidiaries; and
| | - |  | ----------------------------------------



| |  |  | effect mergers, consolidations or sale of assets.
| | - |  | -------------------------------------------------

The restrictive covenants are subject to
customary exceptions including, in relation to the incurrence of additional debt, a consolidated fixed charge ratio (calculated as a ratio of Adjusted EBITDA to consolidated interest expense) to exceed 2.00 to 1.00 on a pro forma basis for the four
full fiscal quarters (taken as one period) for which financial statements are available immediately preceding the incurrence of such debt and, if such debt is senior debt, a consolidated senior leverage ratio (calculated as a ratio of outstanding
senior debt of the Company and its restricted subsidiaries (on a consolidated basis) to pro forma Adjusted EBITDA) to be less than 4.00 to 1.00 on a pro forma basis for the four full fiscal quarters (taken as one period) for which financial
statements are available immediately preceding the incurrence of such debt. The Revolving Facility Agreement also includes a leverage ratio financial covenant (tested on a quarterly basis) requiring total net debt (calculated as a ratio to pro forma
EBITDA) not to exceed 4.00 to 1.00. In addition, the Company must ensure that the guarantors represent a certain percentage of Adjusted EBITDA of the Group as a whole and a certain percentage of the consolidated net assets of the Group as a whole.



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The breach of any of these covenants by the Company or the failure by the Company to maintain its
leverage ratio could result in a default under the Revolving Facility Agreement. As of December 31, 2016, the Company was in compliance with all covenants in the Revolving Facility Agreement. In addition, the Company does not anticipate any
such breach or failure and believes that its ability to borrow funds under the Revolving Facility Agreement will not be adversely affected by the covenants in the next 12 months.

Senior Secured Notes Indenture

The Indenture contains covenants for the benefit of the holders of the Notes that restrict, among other things and subject to certain
exceptions, the ability of the Company and its subsidiaries to:



| |  |  | incur debt;
| | - |  | -----------



| |  |  | enter into certain transactions with, or for the benefit of, an affiliate;
| | - |  | --------------------------------------------------------------------------



| |  |  | create or incur certain liens;
| | - |  | ------------------------------



| |  |  | incur a change in control;
| | - |  | --------------------------



| |  |  | pay dividends or make certain distributions or payments;
| | - |  | --------------------------------------------------------



| |  |  | engage in any business activity not authorized by the Indenture;
| | - |  | ----------------------------------------------------------------



| |  |  | sell certain kinds of assets;
| | - |  | -----------------------------



| |  |  | impair any security interest on the assets serving as collateral for the Notes;
| | - |  | -------------------------------------------------------------------------------



| |  |  | enter into any sale and leaseback transaction;
| | - |  | ----------------------------------------------



| |  |  | make certain investments or other types of restricted payments;
| | - |  | ---------------------------------------------------------------



| |  |  | designate unrestricted subsidiaries;
| | - |  | ------------------------------------



| |  |  | effect mergers, consolidations or sale of assets; and
| | - |  | -----------------------------------------------------



| |  |  | guarantee certain debt.
| | - |  | -----------------------

The breach of any of these covenants by the Company could result in a
default under the Indenture. As of December 31, 2016, the Company was in compliance with all covenants in the Indenture.

EBITDA and Adjusted
EBITDA

EBITDA for the years ended December 31, 2016, December 31, 2015, and December 31, 2014, was
182.4 million, 173.7 million and 140.6 million, respectively, representing 43%, 45% and 41% of revenue, respectively. Adjusted EBITDA for the years ended December 31, 2016, December 31, 2015, and
December 31, 2014, was 190.9 million, 171.3 million and 146.4 million respectively, representing 45%, 44% and 43% of revenue, respectively.

We define EBITDA as net income plus income tax expense, net finance expense, depreciation, amortization and impairment of assets. We define
Adjusted EBITDA as EBITDA adjusted to exclude share-based payments, income or expense related to the evaluation and execution of potential mergers or acquisitions, and adjustments related to terminated and unused data center sites. See IntroductionNon-IFRS Financial Measures for a more detailed description. EBITDA and Adjusted EBITDA are non-IFRS measures. We believe EBITDA and Adjusted EBITDA provide useful supplemental
information to investors regarding our on-going operational performance because these measures help us and our investors evaluate the on-going operating performance of
the business after removing the impact of our capital structure (primarily interest expense) and our asset base (primarily depreciation and amortisation). Management believes that the presentation of Adjusted EBITDA, when combined with the primary
IFRS presentation of net income provides a more complete analysis of our operating performance. Management also believes the use of EBITDA and Adjusted EBITDA facilitates comparisons between us and other data center operators (including other data
center operators that are REITs) and other infrastructure based businesses. EBITDA and Adjusted EBITDA are also relevant measures used in the financial covenants of our 100.0 million revolving facility and our 6.00% Senior Secured Notes
due 2020. Other companies may present EBITDA and Adjusted EBITDA differently than we do. These measures are not measures of financial performance under IFRS and should not be considered as an alternative to operating income or as a measure of
liquidity or an alternative to net income as indicators of our operating performance or any other measure of performance implemented in accordance with IFRS.



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Contractual Obligations and Off-Balance Sheet Arrangements

We lease a majority of our data centers and certain equipment under non-cancellable lease agreements.
The following represents our debt maturities, financings, leases and other contractual commitments as of December 31, 2016:



|                                       |  |         |           |  |                 |  |         |             |  |  |             |  |  |                  |         |  |  |  |         | 
|-------------------------------------- |  | ------- | --------- |  | --------------- |  | ------- | ----------- |  |  | ----------- |  |  | ---------------- | ------- |  |  |  | ------- | 
|                                       |  | Total   |           |  | Less than 1year |  |         | 1  3 years |  |  | 3  5 years |  |  | More than5 years |        
|                                       |  | (000) |          
|Long-term debt obligations(1)          |  |         | 835,792   |  |                 |  | 49,637  |             |  |  | 87,501      |  |  |                  | 678,979 |  |  |  | 19,675  | 
|Capital (finance) lease
obligations(2) |  |         | 75,394    |  |                 |  | 4,346   |             |  |  | 26,648      |  |  |                  | 5,256   |  |  |  | 39,144  | 
|Operating lease obligations (3)        |  |         | 318,125   |  |                 |  | 28,698  |             |  |  | 59,300      |  |  |                  | 58,814  |  |  |  | 171,313 | 
|Energy purchase commitments            |  |         | 60,100    |  |                 |  | 39,100  |             |  |  | 21,000      |  |  |                  |        |  |  |  |        | 
|Other contractual purchase commitments |  |         | 40,643    |  |                 |  | 22,227  |             |  |  | 2,881       |  |  |                  | 2,000   |  |  |  | 13,535  | 
|Capital purchase commitments           |  |         | 114,131   |  |                 |  | 114,131 |             |  |  |            |  |  |                  |        |  |  |  |        | 
|                                       |  |         |           |  |                 |  |         |             |  |  |             |  |  |                  |         |  |  |  |         | 
|Total                                  |  |         | 1,444,185 |  |                 |  | 258,139 |             |  |  | 197,330     |  |  |                  | 745,049 |  |  |  | 243,667 | 
|                                       |  |         |           |  |                 |  |         |             |  |  |             |  |  |                  |         |  |  |  |         | 

Notes:

|(1) | Long-term debt obligations include the Senior Secured Notes, mortgages, loans from suppliers and/or landlords, including interest related thereto.
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------

|(2) | Capital (finance) lease obligations include future interest payments.
|--- | ---------------------------------------------------------------------

|(3) | Operating lease obligations include the lease of property and equipment.
|--- | ------------------------------------------------------------------------

We entered into 16
irrevocable bank guarantees totaling 4.6 million with ABN AMRO Bank, Royal Bank of Scotland, La Caixa and Frankfurter Sparkasse. These bank guarantees were primarily provided in lieu of cash deposits for lease contracts and either
automatically renew in successive one-year periods or, in each case, remain in effect until the final lease expiration date. The bank guarantees are cash collateralized and the collateral is included in other (non-)current assets and other current assets on our statement of financial position. These contingent commitments are not reflected in the table above.

Primarily as a result of our various data center expansion projects, as of December 31, 2016, we were contractually committed for
114.1 million of unaccrued capital expenditure, primarily for data center equipment not yet delivered and labor not yet provided, in connection with the work necessary to complete construction and open these data centers before making
them available to customers for installation. This amount, which is expected to be paid in 2017, is reflected in the table above as Capital purchase commitments.

We have other non-capital purchase commitments in place as of December 31, 2016, such as
commitments to purchase power in select locations, through the year 2017 and beyond, for a total amount of 60.1 million. In addition, we have committed to purchase goods or services to be delivered or provided during 2017 and beyond. Such
other purchase commitments as of December 31, 2016, which totaled 19.4 million, are also reflected in the table above as Other contractual purchase commitments.

In addition, although we are not contractually obligated to do so, we expect to incur additional capital expenditure consistent with our
disciplined expansion and conservative financial management in our various data center expansion projects during 2017 in order to complete the work needed to open these data centers. Such non-contractual
capital expenditure is not reflected in the table above.

On January 18, 2013, the Group entered into a 10.0 million
financing agreement, consisting of two loans that are secured by mortgages on the PAR3 land owned by Interxion Real Estate II Sarl and the PAR5 land owned by Interxion Real Estate III Sarl, a pledge on the rights under the intergroup lease
agreements between Interxion Real Estate II Sarl and Interxion Real Estate III Sarl, as lessors, and Interxion France SAS, as lessee, and are guaranteed by Interxion France SAS. The principal amounts of the mortgage loans are required to be repaid
in quarterly installments collectively amounting to 167,000 commencing April 18, 2013. The mortgage loans have a maturity of 15 years and a variable interest rate based on EURIBOR plus an individual margin ranging from 240 to 280 basis
points. The mortgage loan agreement requires the interest rate to be fixed for a minimum of 40% of the principal outstanding amount for a minimum of six years. In April 2013, the interest rate was fixed for approximately 75% of the principal
outstanding amount for a period of ten years.



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On June 26, 2013, the Group entered into a 6.0 million mortgage financing. The
mortgage loan is secured by a mortgage on the AMS3 property owned by Interxion Real Estate V B.V. and a pledge on the rights under the intergroup lease agreement between Interxion Real Estate V B.V., as lessor, and Interxion Nederland B.V., as
lessee. The repayment of principal under this mortgage loan is required to be repaid in annual installments of 0.4 million commencing May 1, 2014, and a final repayment of 4.4 million due on May 1, 2018. The mortgage
loan agreement includes a variable interest rate based on EURIBOR plus 275 basis points. The mortgage loan contains a minimum debt service capacity ratio of 1:1 based on the operations of Interxion Real Estate V B.V.

On April 1, 2014, the Group completed a 9.2 million mortgage financing with respect to its data center in Belgium. The
facility is guaranteed by Interxion Real Estate Holding B.V. and is secured by (i) a mortgage on the data center property in Belgium, which was acquired by Interxion Real Estate IX N.V. on January 9, 2014, and (ii) a pledge over the
lease agreement. The facility has a maturity of 15 years and has a variable interest rate based on EURIBOR plus 200 basis points. The principal amount is to be repaid in 59 quarterly installments of 153,330 of which the first quarterly
installment was paid on July 31, 2014, and a final repayment of 153,330 due on April 30, 2029. This mortgage does not contain any financial maintenance covenants.

On October 13, 2015, the Group completed a 15.0 million mortgage financing with respect to certain property in Germany. The
facility is secured by a mortgage on the real estate property (FRA8 and FRA10) in Germany, which is owned by Interxion Real Estate I B.V., and a pledge over the lease agreement. The facility has a maturity of five years and has a variable interest
rate based on EURIBOR plus 225 basis points. The principal amount is to be repaid in four annual installments of 1.0 million of which the first quarterly installment is due on September 30, 2016, and a final repayment of
11.0 million which is due on September 30, 2020.

On April 8, 2016, the Group entered a 14.6 million
financing facility guaranteed by Interxion Real Estate I B.V. which is secured by (i) a mortgage on and (ii) a pledge on the lease agreement for the data center property in Vienna, Austria (acquired by Interxion Real Estate VII GmbH in
January 2015). The facility has a maturity of 14 years and nine months, and has a variable interest rate based on EURIBOR plus 195 basis points. The principal amount is due in 177 monthly instalments, increasing from 76,000 to 91,750.
The first monthly instalment of 76,000 was paid on April 30, 2016, and a final repayment of 91,750 is due on December 31, 2030.

On November 7, 2016, the Group entered into a conditional agreement to acquire 100% of the shares of Vancis B.V., for a purchase
consideration of approximately 78.0 million. This transaction closed in February 2017. See note note 27 of our consolidated financial statements for more details about this transaction.

Critical Accounting Estimates

Basis
of Measurement

We present our financial statements in thousands of euro. They are prepared under the historical cost convention except
for certain financial instruments. The financial statements are presented on the going-concern basis. Our functional currency is the euro.

The accounting policies set out below have been applied consistently by us and our wholly-owned subsidiaries and to all periods presented in
these consolidated financial statements.

Use of Estimates and Judgments

The preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect
the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an
on-going basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.

Judgments, estimates and assumptions applied by management in preparing the financial statements are based on circumstances as of
December 31, 2016, and based on Interxion operating as a stand-alone company.

In particular, information about significant areas of
estimation uncertainty and critical judgments in applying accounting policies that have the most significant effect on amounts recognized in the financial statements are discussed below.

Property, Plant and Equipment Depreciation

Estimated remaining useful lives and residual values are reviewed annually. The carrying values of property, plant and equipment are also
reviewed for impairment where there has been a triggering event by assessing the present value of estimated future cash flows and net realizable value compared with net book value. The calculation of estimated future cash flows and



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residual values is based on our best estimates of future prices, output and costs and is therefore subjective. In addition, the valuation of some of the assets under construction requires
judgments, which are related to the probability of signing lease contracts and obtaining planning permits.

Intangible Fixed Assets Amortization

Estimated remaining useful lives and residual values are reviewed annually. The carrying values of intangible fixed assets are also reviewed
for impairment where there has been a triggering event by assessing the present value of estimated future cash flows and fair value compared with net book value. The calculation of estimated future cash flows is based on our best estimates of future
prices, output and costs and is therefore subjective.

Lease Accounting

At inception or modification of an arrangement, the Group determines whether such an arrangement is or contains a lease. Classification of a
lease contract (operating versus a finance lease) is based on the extent to which risks and rewards incidental to ownership of a leased asset lie with the lessor or the lessee. The classification of lease contracts includes the use of judgments and
estimates.

Costs of Site Restoration

Liabilities in respect of obligations to restore premises to their original condition are estimated at the commencement of the lease and
reviewed yearly based on rents, remaining terms, contracted extension possibilities and possibilities of lease terminations. A provision for site restoration is recognized when costs for restoring leasehold premises to their original condition at
the end of the lease term is required to be made and the likelihood of this liability is estimated to be probable. The discounted cost of the liability is included in the related assets and is depreciated over the remaining estimated term of the
lease. If the likelihood of this liability is estimated to be possible, rather than probable, it is disclosed as a contingent liability.

Provision for
Onerous Lease Contracts

Provision is made for the discounted amount of future losses expected to be incurred in respect of unused data
center sites over the term of the leases. Where unused sites have been sublet or partly sublet, in arriving at the amount of future losses management has taken account of the contracted rental income to be received over the minimum sublease term.
Currently, the provision for onerous lease contracts principally relates to two unused data center sites in Germany: one in Munich, which was terminated in March 2016,and one in Dusseldorf, terminated in August 2016.

Deferred Taxation

Provision is made for
deferred taxation at the rates of tax prevailing at the period end dates unless future rates have been substantively enacted. Deferred tax assets are recognized where it is probable that they will be recovered based on estimates of future taxable
profits for each tax jurisdiction. The actual profitability may be different depending upon local financial performance in each tax jurisdiction.

Share-based Payments

Equity-settled share-based
payments are issued to certain employees under the terms of the long term incentive plans. The charges related to equity-settled share-based payments and options to purchase ordinary shares, are measured at fair value at the date of grant. The fair
value at the grant date is determined using the Black Scholes model and is expensed over the vesting period. The value of the expense is dependent upon certain assumptions including the expected future volatility of the Companys share price at
the date of the grant.

Senior Secured Notes due 2020

The Senior Secured Notes due 2020 are valued at amortized costs. The Senior Secured Notes due 2020 indenture includes optional redemption
provisions, which allow us to redeem the Notes before their stated maturity. As part of the initial measurement of the amortized cost value of the Senior Secured Notes due 2020, we have assumed that the Notes will be held to maturity. If we redeem
all or part of the Notes before their stated maturity, the liability will be re-measured based on the original effective interest rate. The difference between the liability of excluding a change in assumed
early redemption and the liability compared with including a change in assumed early redemption, will be reflected in our profit and loss.



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New Standards and Interpretations not yet Adopted

The new standards, amendments to standards and interpretations listed below are available for early adoption in the annual period beginning
January 1, 2016, although they are not mandatory until a later period. The Group has decided not to adopt these new standards or interpretations until a later date.



|                      |  |  |  |                                                                                                                        
|--------------------- |  |  |  | -----------------------------------------------------------------------------------------------------------------------
|Effective date        |  |  |  | New standard or amendments                                                                                             
|Deferred indefinitely |  |  |  | Amendments to IFRS 10 and IAS 28: Sale or contribution of assets between an investor and its associate or joint venture
|January 1, 2017       |  |  |  | Amendments to IAS 12: Recognition of deferred tax assets for unrealized losses                                         
|January 1, 2017       |  |  |  | Amendments to IAS 7: Disclosure initiative                                                                             
|January 1, 2018       |  |  |  | IFRS 15  Revenue from contract with customer                                                                          
|January 1, 2018       |  |  |  | IFRS 9  Financial instruments                                                                                         
|January 1, 2018       |  |  |  | Amendments to IFRS 2: Classification and measurement of share-based payment transactions                               
|January 1, 2019       |  |  |  | IFRS 16  Leases                                                                                                       

IFRS 15  Revenue from Contracts with Customers

In 2014, the International Accounting Standards Board (IASB) introduced new accounting principles (IFRS 15) for the recognition of revenue from
contracts with customers. IFRS 15 specifies how and when revenue is recognized together with enhanced disclosure requirements. IFRS 15 replaces existing revenue recognition standards: IAS 11 Construction Contracts and IAS 18 Revenue,
and a number of revenue-related interpretations.

See Note 3 of our 2016 consolidated financial statements New standards and interpretations not yet
adopted for the preliminary conclusions on the impact of IFRS 15.

IFRS 16  Leases

In January 2016, the IASB issued IFRS 16  Leases, which requires most leases to be recognized
on-balance for lessees, thereby eliminating the distinction between operating and finance leases. IFRS 16 replaces IAS 17  Leases and related interpretations. See Note 3 of our 2016 consolidated
financial statements New standards and interpretations not yet adopted for more details about IFRS 16.

IFRS 16 must be
adopted for periods beginning on or after January 1, 2019, with earlier adoption being permitted if the abovementioned IFRS 15 has also been adopted. As of December 31, 2016, the European Commission had not endorsed this standard. The
Company has not decided whether or not to early adopt IFRS 16.

The Company has not yet assessed the impact of the aforementioned new
standards and interpretations, but is expecting a significant impact in respect of the assets and liabilities that will need to be recognized for its operating leases for land and buildings, among others.

In this respect, the Company identified more than 300 million of off-balance operating
lease obligations for operating lease obligations (undiscounted) as of December 31, 2016. See note 23 of our 2016 consolidated financial statements for further information.



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ITEM 6: DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES

Introduction

We have a one-tier board structure (Board of Directors or the Board) composed of directors with the title Executive Directors and directors with the title
Non-Executive Directors (together with the Executive Directors, the Directors). The majority of our Directors are independent as required by the NYSE.

Senior Management and Board of Directors

Names, positions and ages of the members of our Senior Management and our Directors:



|                       |  |     |  |                                                                          |  |                         |      | 
|---------------------- |  | --- |  | ------------------------------------------------------------------------ |  | ----------------------- | ---- | 
|Name                   |  | Age |  | Position(2)                                                              |  | Term Expiration Date(1) |     
|David Ruberg           |  | 71  |  | President, Chief Executive Officer, Vice-Chairman and Executive Director |  |                         | 2019 | 
|M.V. Josh Joshi      |  | 49  |  | Chief Financial Officer                                                  |  |                         |      | 
|Giuliano Di Vitantonio |  | 49  |  | Chief Marketing and Strategy Officer                                     |  |                         |      | 
|Jaap Camman            |  | 50  |  | Senior Vice President, Legal                                             |  |                         |      | 
|Jan Pieter Anten       |  | 44  |  | Senior Vice President, Human Resources                                   |  |                         |      | 
|Adriaan Oosthoek       |  | 48  |  | Senior Vice President, Operations and ICT                                |  |                         |      | 
|Frank Esser            |  | 58  |  | Non-Executive Director                                                   |  |                         | 2017 | 
|Mark Heraghty          |  | 53  |  | Non-Executive Director                                                   |  |                         | 2017 | 
|Jean F.H.P. Mandeville |  | 57  |  | Chairman and Non-Executive Director                                      |  |                         | 2019 | 
|Rob Ruijter            |  | 65  |  | Non-Executive Director                                                   |  |                         | 2018 | 



Notes:

|(1) | The term of office expires at the Annual General Meeting of Shareholders held in the year indicated.
|--- | ----------------------------------------------------------------------------------------------------

|(2) | All our Directors except our Chief Executive Officer, David Ruberg, are independent.
|--- | ------------------------------------------------------------------------------------

The business address of all members of our Senior Management and of our Directors is at our registered offices located at Tupolevlaan 24, 1119
NX Schiphol-Rijk, The Netherlands.

In connection with our entry into the Implementation Agreement, certain members of our Senior
Management and our Directors entered into Irrevocable Undertaking Agreements, as further described in Item 7 Major Shareholders and Related Party TransactionsIrrevocable Undertaking Agreements. The principal functions and
experience of each of the members of our Senior Management and our Directors are set out below:

David Ruberg, President, Chief Executive Officer,
Vice-Chairman and Executive Director

Mr. Ruberg joined us as President and Chief Executive Officer in November 2007 and
became Vice-Chairman of the Board of Directors when it became a one-tier board in 2011. Mr. Ruberg served as Chairman of the Supervisory Board from 2002 to 2007 and on the Management Board from 2007 until
the conversion into a one-tier board. He was affiliated with Baker Capital, a private equity firm from January 2002 to October 2007. From April 1993 to October 2001 he was Chairman, President and CEO of
Intermedia Communications, a NASDAQ-listed broadband communications services provider, as well as Chairman of its majority-owned subsidiary, Digex, Inc., a NASDAQ-listed managed web hosting company. He began his career as a scientist at AT&T
Bell Labs, contributing to the development of operating systems and computer languages. He holds a Bachelors Degree from Middlebury College and a Masters in Computer and Communication Sciences from the University of Michigan.

M.V. Josh Joshi, Chief Financial Officer

Mr. Joshi joined us as Chief Financial Officer in August 2007. From June 2006 to December 2006 he was CFO of Leisure and Gaming plc, an
online gaming and gambling business, and from April 2003 to May 2006 he was CFO of Telecity plc, a pan-European carrier and cloud neutral data center business, both publicly traded companies on the London
Stock Exchange. He was one of the founders and CFO of private-equity-backed Storm Telecommunications Limited, a U.S. and pan-European data and network service provider. In his early career, Mr. Joshi
spent eight years in professional practice, predominantly with Arthur Andersen. He holds a Bachelors Degree in Civil Engineering from Imperial College, London and is a Chartered Accountant.



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Giuliano Di Vitantonio, Chief Marketing and Strategy Officer

Mr. Di Vitantonio joined Interxion in January 2015 and is responsible for our market and product strategies, including product management,
product marketing, segment strategy and business development. He joined from Cisco Systems, where he held the position of Vice President Marketing, Data Center & Cloud.

Mr. Di Vitantonio has more than 20 years experience in the IT industry, including 17 years at Hewlett-Packard, where he held a
broad range of positions in R&D, strategy, consulting, business development and marketing. His areas of expertise include IT management software, enterprise applications, data center infrastructure and business intelligence solutions. He has a
Masters Degree in EE/Telecommunications from the University of Bologna and an MBA from the London Business School.

Jaap Camman, Senior Vice
President, Legal

Mr. Camman is responsible for all legal and corporate affairs across the Group. He joined us in November
1999 as Manager Legal and has been our Executive Vice President Legal since July 2002. Before joining us, he worked for the Dutch Government from February 1994 to October 1999. His latest position was Deputy Head of the Insurance Division within The
Netherlands Ministry of Finance. Mr. Camman holds a Law Degree from Utrecht University.

Jan-Pieter
Anten, Vice President, Human Resources

Mr. Anten joined us as Vice President Human Resources in October 2011. Before joining
us, he worked for Hay Group, a global management consulting firm, as Director International Strategic Clients Europe, where he led major accounts within the European market. Before that, he held the position of Vice President Human Resources at
Synthon, an international organization with worldwide affiliates. He previously worked for Hay Group as a Senior Consultant. Mr. Anten holds a degree from the University of Utrecht.

Adriaan Oosthoek, Senior Vice President, Operations and ICT

Mr. Oosthoek has held senior management positions in the IT and Telecom industry for a number of years. Until 2015 he was responsible for
operating Interxions UK business. Before joining Interxion, he was the Executive Vice President at Colt, responsible for its global Data Center footprint. Before joining Colt, he spent 11 years at Telecity Group plc, the last seven years as
the Managing Director of the UK & Ireland operation for Telecity Group plc where he significantly grew the business. Preceding his tenure in the UK, he ran the Dutch operation of data center operator, Redbus Interhouse, and was a founder
and Managing Director of the Dutch subsidiary of Teles AG, a Berlin-headquartered provider of telecoms and data com products.

He studied
Information Sciences at the University of Applied Sciences in The Hague and holds marketing certificates NIMA A and NIMA B from The Netherlands Institute of Marketing. In addition to his formal roles, Mr. Oosthoek is also Chairman of the Board
of Governors of the Data Centre Alliance, a European industry association for the data center industry.

Frank Esser,
Non-Executive Director

Mr. Esser serves on our Board of Directors, to which he was
appointed in June 2014. Since 2000, he has held various positions with the French telecom operator SFR, where, from 2002 to 2012, he was President and CEO. From 2005 to 2012, he was a member of the Board of Vivendi Management. Before that he was a
Senior Vice President of Mannesmann International Operations until 2000. Mr. Esser serves on the board of Dalensys S.A. and Swisscom AG. Until September 2016 he also served on the board of AVG N.V. Mr. Esser is a Business Administration
graduate from Cologne University and he holds a Doctorate in Business Administration from the Cologne University.

Mark Heraghty, Non-Executive Director

Mr. Heraghty serves on our Board of Directors, to which he was
appointed in June 2014. His most recent executive role was as Managing Director of Virgin Media Business. In December 2016, he was appointed as Non-Executive Chairman of John Henry Group Ltd. From 2006 to
2009, he was President EMEA for Reliance Globalcom with regional responsibility for the former FLAG Telecom and Vanco businesses which Reliance acquired. From 2000 to 2003, he was the CEO Europe for Cable & Wireless. Mr. Heraghty
graduated from Trinity College Dublin with a degree in Mechanical Engineering (1985) and holds an MBA from Warwick University (1992).



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Jean F.H.P. Mandeville, Chairman and Non-Executive Director

Mr. Mandeville serves on our Board of Directors, to which he was appointed in January 2011. Since June 8, 2015,
Mr. Mandeville has served as the Chairman of the Board. From October 2008 to December 2010, he served as Chief Financial Officer and Board member of MACH S.à.r.l. He served as an Executive Vice President and Chief Financial Officer of
Global Crossing Holdings Ltd/Global Crossing Ltd. from February 2005 to September 2008. Mr. Mandeville joined Global Crossing in February 2005, where he was responsible for all of its financial operations. He served as Chief Financial Officer
of Singapore Technologies Telemedia Pte. Ltd./ST Telemedia from July 2002 to January 2005. In 1992, he joined British Telecom and served in various capacities covering all sectors of the telecommunications market (including wireline, wireless and
multi-media) in Europe, Asia and the Americas. From 1992 to June 2002, Mr. Mandeville served in various capacities at British Telecom PLC, including President of Asia Pacific from July 2000 to June 2002, Director of International Development
Asia Pacific from June 1999 to July 2000 and General Manager, Special Projects from January 1998 to July 1999. He was a Senior Consultant with Coopers & Lybrand, Belgium from 1989 to 1992. Mr. Mandeville graduated from the University
Saint-Ignatius Antwerp with a Masters in Applied Economics in 1982 and a Special degree in Sea Law in 1985.

Rob Ruijter, Non-Executive Director

Mr. Ruijter serves on our Board of Directors, to which he was
appointed in November 2014. He was the Chief Financial Officer of KLM Royal Dutch Airlines from 2001 until its merger with Air France in 2004, and Chief Financial Officer of VNU N.V. (a publicly listed marketing and publishing company now the
Nielsen company), between 2004 and 2007. In 2009 and 2010 he served as the CFO of ASM International N.V. (a publicly listed manufacturer of electronic components), and in 2013 as the interim CEO of Vion Food Group N.V.

Mr. Ruijter currently serves on the Supervisory Board and as Chairman of the Audit Committee of Wavin N.V. (a piping manufacturer). He is a non-executive director of Inmarsat Plc and the Chairman of its Audit Committee. He also serves as the Chairman of the Supervisory Board of Delta Lloyd N.V. and as a member of the Remuneration Committee, the Audit
Committee, the Compensation Committee and the Risk Committee of that company. Mr. Ruijter is a Certified Public Accountant in the United States and in The Netherlands and a member of the ACT in the UK.

Board Powers and Function

Our Board is
responsible for the overall conduct of our business and has the powers, authorities and duties vested in it by and pursuant to the relevant laws of The Netherlands and our Articles of Association. In all its dealings, our Board is guided by the
interests of our Group as a whole, including but not limited to our shareholders. Our Board has the final responsibility for the management, direction and performance of us and of our Group. Our Executive Director is responsible for the day-to-day management of the Company. Our Non-Executive Directors supervise the Executive Director and our general affairs and provide
general advice to the Executive Director.

Our CEO is the general manager of our business, subject to the control of the Board, and is
entrusted with all the Boards powers, authorities and discretions (including the power to sub-delegate), delegated by a resolution of the full Board from time to time. Matters expressly delegated to the
CEO are validly resolved by the CEO, and no further resolutions, approvals or other involvement of the Board is required. Our Board may also delegate authorities to its committees. Upon any such delegation, the Board supervises the execution of its
responsibilities by the CEO and/or the Board committees. It remains ultimately responsible for the fulfillment of its duties by them.

Our
Articles of Association provide that in the event that there is a conflict of interest with one or more Directors, we may still be represented by the Board or an Executive Director. In the event of a conflict of interest, however, our General
Meeting of Shareholders has the power to designate one or more other persons to represent us. Under Dutch law, a Director is prohibited from participating in any Board discussion or decision-making pertaining to a subject in which such director has
a conflict of interest.

Board Meetings and Decisions

All resolutions of the Board are adopted by an absolute majority of votes cast in a meeting at which at least the majority of the Directors are
present or represented. A member of the Board may authorize another member of the Board to represent him/her at the Board meeting and vote on his/her behalf. Each Director is entitled to one vote (provided that, for the avoidance of doubt, a member
representing one or more absent members of the Board by written power of attorney will be entitled to cast the vote of each such absent member) therein the event of a tie, the Chairman has the casting vote.

The Board meets as often as it deems necessary or appropriate or upon the request of any of its members. The Board has adopted rules, which
contain additional requirements for its decision-making process, the convening of meetings and, through separate resolution by the Board, details on the assignment of duties and a division of responsibilities between Executive Directors and Non-Executive Directors. The Board has appointed one of the Directors as Chairman and one of the Directors as Vice-Chairman of the Board. The Board is assisted by a Corporate Secretary, who may be a member of the
Board or the Senior Management and is appointed by the Board.



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Composition of the Board

The majority of the Directors are independent as required by the NYSE.

Our Board consists of a minimum of one Executive Director and a minimum of three Non-Executive
Directors, provided that our Board is composed of a maximum of seven members. The number of Executive Directors and Non-Executive Directors is determined by our General Meeting of Shareholders, provided that
the majority of the Board must consist of Non-Executive Directors. Only natural persons can be Non-Executive Directors. The Executive Directors and Non-Executive Directors as such are appointed by the General Meeting of Shareholders, provided that the Board is classified, with respect to the term for which each member will severally be appointed and serve as
member, into three classes, as nearly equal in number as is reasonably possible.

The class I Directors serve for a term expiring at the
Annual General Meeting of Shareholders in 2017, the class II Directors serve for a term expiring at the Annual General Meeting of Shareholders in 2018 and the class III Directors serve for a term expiring at the Annual General Meeting of
Shareholders in 2019. At each Annual General Meeting of Shareholders, Directors appointed to succeed those Directors whose terms expire are appointed to serve for a term of office to expire at the third succeeding Annual General Meeting of
Shareholders after their appointment. Notwithstanding the foregoing, the Directors appointed to each class continue to serve their term in office until their successors are duly appointed and qualified or until their earlier resignation, death or
removal. If a vacancy occurs, any Director so appointed to fill that vacancy serves its term in office for the remainder of the full term of the class of Directors in which the vacancy occurred.

The Board has nomination rights with respect to the appointment of a Director. Any nomination by the Board may consist of one or more
candidates per vacant seat. If a nomination consists of two or more candidates, it is binding and the appointment to the vacant seat concerned will be from the persons placed on the binding list of candidates and will be effected through election.
Notwithstanding the foregoing, our General Meeting of Shareholders may, at all times, by a resolution passed with a two-thirds majority of the votes cast representing more than half of our issued and
outstanding capital, resolve that such list of candidates will not be binding.

Directors may be suspended or removed at any time by our
General Meeting of Shareholders. A resolution to suspend or remove a Director must be adopted by at least a two-thirds majority of the votes cast, provided such majority represents more than half of our issued
and outstanding share capital. Executive Directors may also be suspended by the Board.

Directors Insurance and Indemnification

To attract and retain qualified and talented persons to serve as members of our Board or our Senior Management, we currently provide, and
expect to continue to provide, such persons with protection through a directors and officers insurance policy. Under this policy, any of our past, present or future Directors and members of our Senior Management will be insured against
any claim made against any one of them for any wrongful act in their respective capacities.

Under our Articles of Association, we are
required to indemnify each current and former member of the Board who was or is involved, in that capacity, as a party to any actions or proceedings, against all conceivable financial loss or harm suffered in connection with those actions or
proceedings, unless it is ultimately determined by a court having jurisdiction that the damage was caused by intent (opzet), willful recklessness (bewuste roekeloosheid) or serious culpability (ernstige verwijtbaarheid) on the
part of such member.

Insofar as indemnification of liabilities arising under the Securities Act may be permitted to members of the Board,
officers or persons controlling us pursuant to the foregoing provisions, we have been informed that, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

Board Committees

The Board has
established an Audit Committee, a Compensation Committee and a Nominating Committee. The Audit Committee is in compliance with the NYSE listed company board committee independence requirements. The Compensation Committee and the Nominating Committee
currently meet the NYSE independence standard. In the past, however, including during the year ended December 31, 2016, our Compensation Committee and Nominating Committee did not meet the NYSE



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independence standard. Rule 303A permits us as a foreign private issuer to follow home country practice with regard to, among others, the independence requirement for our Compensation Committee
and for our Nominating Committee. The Board may also establish such other committees as it deems appropriate, in accordance with applicable law and regulations, our Articles of Association and any applicable Board rules.

Many of the NYSE corporate governance rules do not apply to us as a foreign private issuer; however, Rule 303A.11 requires foreign
private issuers to describe significant differences between their corporate governance standards and the corporate governance standards applicable to U.S. companies listed on the NYSE. While we believe that our corporate governance practices are
similar in many respects to those of U.S. NYSE-listed companies and provide investors with protections that are comparable in many respects to those established by the NYSE rules, there have been certain key differences, which are described below.

Audit Committee

Our Audit
Committee consists of three independent Directors, Rob Ruijter (Chair), Frank Esser and Mark Heraghty. The committee is independent as defined under, and required by, Rule 10A-3 of the U.S. Securities Exchange
Act of 1934, as amended (Rule 10A-3) and the NYSE. The Board of Directors has determined that Rob Ruijter qualifies as an audit committee financial expert, as that term is defined in
Item 16A of Form 20-F. The Audit Committee is responsible, subject to Board and shareholder approval, for the appointment, compensation, retention and oversight of the work of our independent registered
public accounting firm, KPMG Accountants N.V. In addition, the Audit Committees approval is required before our entering into any related-party transaction. It is also responsible for whistle-blowing procedures, certain other
compliance matters and the evaluation of the Companys policies with respect to risk assessment and risk management.

Compensation Committee

Our Compensation Committee consists of three independent Directors, Rob Ruijter, Frank Esser and Mark Heraghty (Chair). Until
June 5, 2015, John Baker, a former non-independent Director, served as the chairperson of the Compensation Committee. Since June 8, 2015, Mark Heraghty has acted as the independent chairperson of the
Compensation Committee. Among other things, the Compensation Committee reviews, and makes recommendations to the Board regarding, the compensation and benefits of our CEO and the Board. The Compensation Committee also administers the issuance of
stock options and other awards under our equity incentive plan and evaluates and reviews policies relating to the compensation and benefits of our employees and consultants.

Under Section 303A.05 of the NYSE rules, which govern compensation committees, the Companys Compensation Committee meets the NYSE
independence standard. Before June 5, 2015, however, it included one member who was not independent as defined under the applicable NYSE rules.

Nominating Committee

Our
Nominating Committee consists of three independent Directors, Jean Mandeville, Frank Esser (Chair) and Mark Heraghty. Until June 5, 2015, John Baker, a former non-independent Director, served as the
chairperson of the Nominating Committee. Since June 8, 2015, Frank Esser has acted as the independent chairperson of the Nominating Committee. The Nominating Committee is responsible for, among other things, developing and recommending
corporate governance guidelines to the Board, identifying individuals qualified to become Directors, overseeing the evaluation of the performance of the Board, selecting the Director nominees for the next Annual Meeting of Shareholders and selecting
director candidates to fill any vacancies on the Board.

Under Section 303A.04 of the NYSE rules, which govern nominating/corporate
governance committees, the Companys Nominating Committee meets the NYSE independence standard. Before June 5, 2015, however, the Companys Nominating Committee included one member who was not independent as defined
under the applicable NYSE rules.

Compensation

The aggregate annual compensation of our Senior Management and Non-Executive Directors for the year
ended December 31, 2016, was approximately 7.4 million.

The aggregate compensation of our
Non-Executive, Executive Directors, and other Senior Management members for the year ended December 31, 2016, is set forth below.



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|                                            |  |                    |       |  |       |  |       |                           |  |  |                                      |  |  |       |    |  |  |  |       | 
|------------------------------------------- |  | ------------------ | ----- |  | ----- |  | ----- | ------------------------- |  |  | ------------------------------------ |  |  | ----- | -- |  |  |  | ----- | 
|                                            |  | Annualcompensation |       |  | Bonus |  |       | Share-basedpaymentcharges |  |  | Termination /post-employmentbenefits |  |  | Total |   
|                                            |  |                    |       |  |       |  |       |                           |  |  | (000)                              |  |  |       |   
|D.C. Ruberg                                 |  |                    | 590   |  |       |  | 597   |                           |  |  | 1,189                                |  |  |       |   |  |  |  | 2,376 | 
|F. Esser                                    |  |                    | 65    |  |       |  |      |                           |  |  | 40                                   |  |  |       |   |  |  |  | 105   | 
|M. Heraghty                                 |  |                    | 70    |  |       |  |      |                           |  |  | 40                                   |  |  |       |   |  |  |  | 110   | 
|J.F.H.P. Mandeville                         |  |                    | 115   |  |       |  |      |                           |  |  | 40                                   |  |  |       |   |  |  |  | 155   | 
|R. Ruijter                                  |  |                    | 75    |  |       |  |      |                           |  |  | 40                                   |  |  |       |   |  |  |  | 115   | 
|                                            |  |                    |       |  |       |  |       |                           |  |  |                                      |  |  |       |    |  |  |  |       | 
|Subtotal                                    |  |                    | 915   |  |       |  | 597   |                           |  |  | 1,349                                |  |  |       |   |  |  |  | 2,861 | 
|Senior Management (excluding D.C.
Ruberg)1) |  |                    | 1,492 |  |       |  | 794   |                           |  |  | 2,238                                |  |  |       | 74 |  |  |  | 4,598 | 
|                                            |  |                    |       |  |       |  |       |                           |  |  |                                      |  |  |       |    |  |  |  |       | 
|Total                                       |  |                    | 2,407 |  |       |  | 1,391 |                           |  |  | 3,587                                |  |  |       | 74 |  |  |  | 7,459 | 
|                                            |  |                    |       |  |       |  |       |                           |  |  |                                      |  |  |       |    |  |  |  |       | 



Notes:

|(1) | The compensation for the Senior Management team (excluding D.C. Ruberg) includes the compensation for J. Joshi, J. Camman, J.P. Anten, G. Di Vitantonio and A. Oosthoek.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------

None of the non-executive directors is entitled to any contractually agreed benefit upon termination.
Upon termination, the Executive Director is entitled to contractually agreed benefit compensation equal to 12 months base salary.

Employee Share
Ownership Plans

On May 24, 2013, pursuant to the recommendation of the Compensation Committee, the Board adopted the 2013
International Equity Based Incentive Plan (the 2013 Plan). The 2013 Plan was implemented to replace the InterXion Holding N.V. 2011 International Stock Option Plan and Incentive Master Award Plan (the 2011 Plan). Pursuant to
further recommendation of our Compensation Committee, the Board amended the 2013 Plan and adopted the 2013 Amended International Equity Based Incentive Plan (the 2013 Amended Plan) on October 30, 2013. The 2013 Amended Plan was
further amended on March 17, 2014 by the Board, pursuant to the recommendation of our Compensation Committee to clarify that the 2013 Amended Plan was adopted by the Board of Directors, instead of just by the Compensation Committee. The 2013
Amended Plan provides the Compensation Committee with the authority to award options, performance shares and restricted shares to certain employees and advisors.

We implemented the 2013 Amended Plan to attract and retain certain employees, advisors and Board members and reward them for their
contributions to the Group. The 2013 Amended Plan is designed to act as an incentive scheme, whereby various equity-based instruments may be awarded from time-to-time in
accordance with the terms and conditions of the 2013 Amended Plan. The 2013 Plan was discontinued following the implementation of the 2013 Amended Plan, however, outstanding options will continue to be governed by the terms of the 2013 Plan until
such options have been exercised in full.

The total number of shares that may be granted pursuant to the 2013 Amended Plan is 5,273,371
shares (the Share Pool). The Share Pool includes grants made under the 2011 Plan, the 2013 Plan and the 2013 Amended Plan. Shares subject to awards that expire, terminate or are otherwise surrendered, canceled or forfeited under the 2011
Plan, the 2013 Plan or the 2013 Amended Plan are returned to the Share Pool. Taking into account the grants made under those plans, as of December 31, 2016, approximately 2.1 million shares are available for grant.

Under the 2011 Plan, the Board could grant options for ordinary shares to certain eligible persons following completion of our initial public
offering. The 2011 Plan was discontinued following the implementation of the 2013 Plan.

Corporate Governance

The Dutch Corporate Governance Code, as revised, became effective on January 1, 2009, and applies to all Dutch companies listed on a
government-recognized Stock Exchange, whether in The Netherlands or elsewhere. The Dutch Corporate Governance Code is based on a comply or explain principle, under which all companies filing annual reports in The Netherlands must
disclose whether or not they are in compliance with the various rules of the Dutch Corporate Governance Code and explain the reasons for any instance of noncompliance.



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On December 8, 2016, the revised Dutch Corporate Governance Code was published. Beginning in
2018 Dutch listed companies will be required to report in compliance with this revised Code for the financial years ending December 31, 2017, and beyond.

With the exception of Sections 303A.04 and 303A.05 of the NYSE rules, which govern nominating/corporate governance committees and compensation
committees, respectively, we intend to comply with the NYSE rules. We also intend to comply with the Dutch Corporate Governance Code, but where the NYSE rules conflict with the Dutch Corporate Governance Code, we intend to comply with the NYSE
rules. For further information with respect to the composition of the Board committees, see above under Board Committees.



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Stock Options, Restricted and Performance Shares

As of March 16, 2017, our directors and senior managers were granted the awards (options, restricted and performance shares outstanding)
as set out below. The awards with exercise prices denominated in $ are awards granted under the 2011 Plan, the 2013 Plan and the Amended 2013 Plan. The restricted shares have been granted under the 2013
Plan.

The ordinary shares beneficially owned by our directors and senior managers are disclosed in Item 7, Major
Shareholders and Related Party Transactions.



|                    |  |                           |         |  |                                        |  |        |                       |  |   |                     |  |  |  |                       | 
|------------------- |  | ------------------------- | ------- |  | -------------------------------------- |  | ------ | --------------------- |  | - | ------------------- |  |  |  | --------------------- | 
|Name                |  | Awards grantedoutstanding |         |  | Awards grantedoutstanding, butunvested |  |        | AwardExercisePrice(s) |  |   | AwardExpirationDate | 
|D. Ruberg           |  |                           | 100,000 |  |                                        |  |       |                       |  | $ | 14.74               |  |  |  | June 29, 2019         | 
|                    |  |                           | 35,432  |  |                                        |  | 35,432 |                       |  | $ | 0.00                |  |  |  | January 1, 2018(1)(2) | 
|                    |  |                           | 38,286  |  |                                        |  | 38,286 |                       |  | $ | 0.00                |  |  |  | January 1, 2019(1)(3) | 
|                    |  |                           | 63,805  |  |                                        |  | 63,805 |                       |  | $ | 0.00                |  |  |  | January 1, 2020(1)(4) | 
|F. Esser            |  |                           | 1,234   |  |                                        |  | 1,234  |                       |  | $ | 0.00                |  |  |  | June 30, 2017(5)      | 
|M. Heraghty         |  |                           | 1,234   |  |                                        |  | 1,234  |                       |  | $ | 0.00                |  |  |  | June 30, 2017(5)      | 
|J.F.H.P. Mandeville |  |                           | 1,234   |  |                                        |  | 1,234  |                       |  | $ | 0.00                |  |  |  | June 30, 2017(5)      | 
|Rob Ruijter         |  |                           | 1,234   |  |                                        |  | 1,234  |                       |  | $ | 0.00                |  |  |  | June 30, 2017(5)      | 
|J. Joshi            |  |                           | 100,000 |  |                                        |  |       |                       |  | $ | 10.00               |  |  |  | October 31, 2020(1)   | 
|                    |  |                           | 6,998   |  |                                        |  | 6,998  |                       |  | $ | 0.00                |  |  |  | January 1, 2018(1)(2) | 
|                    |  |                           | 12,008  |  |                                        |  | 12,008 |                       |  | $ | 0.00                |  |  |  | January 1, 2019(1)(3) | 
|                    |  |                           | 22,448  |  |                                        |  | 22,448 |                       |  | $ | 0.00                |  |  |  | January 1, 2020(1)(4) | 
|G. Di Vitantonio    |  |                           | 12,078  |  |                                        |  | 12,078 |                       |  | $ | 0.00                |  |  |  | January 1, 2019(1)(3) | 
|                    |  |                           | 23,082  |  |                                        |  | 23,082 |                       |  | $ | 0.00                |  |  |  | January 1, 2020(1)(4) | 
|J. Camman           |  |                           | 2,500   |  |                                        |  | 2,500  |                       |  | $ | 0.00                |  |  |  | January 1, 2018(1)    | 
|                    |  |                           | 7,500   |  |                                        |  | 7,500  |                       |  | $ | 0.00                |  |  |  | January 1, 2020(1)    | 
|                    |  |                           | 4,692   |  |                                        |  | 4,692  |                       |  | $ | 0.00                |  |  |  | January 1, 2018(1)(2) | 
|                    |  |                           | 4,715   |  |                                        |  | 4,715  |                       |  | $ | 0.00                |  |  |  | January 1, 2019(1)(3) | 
|                    |  |                           | 8,748   |  |                                        |  | 8,748  |                       |  | $ | 0.00                |  |  |  | January 1, 2020(1)(4) | 
|J.P. Anten          |  |                           | 2,500   |  |                                        |  | 2,500  |                       |  | $ | 0.00                |  |  |  | January 1, 2018(1)    | 
|                    |  |                           | 7,500   |  |                                        |  | 7,500  |                       |  | $ | 0.00                |  |  |  | January 1, 2020(1)    | 
|                    |  |                           | 4,470   |  |                                        |  | 4,470  |                       |  | $ | 0.00                |  |  |  | January 1, 2018(1)(2) | 
|                    |  |                           | 4,491   |  |                                        |  | 4,491  |                       |  | $ | 0.00                |  |  |  | January 1, 2019(1)(3) | 
|                    |  |                           | 8,655   |  |                                        |  | 8,655  |                       |  | $ | 0.00                |  |  |  | January 1, 2020(1)(4) | 
|A. Oosthoek         |  |                           | 2,871   |  |                                        |  | 2,871  |                       |  | $ | 0.00                |  |  |  | January 11, 2018      | 
|                    |  |                           | 3,515   |  |                                        |  | 3,515  |                       |  | $ | 0.00                |  |  |  | January 1, 2019       | 
|                    |  |                           | 13,523  |  |                                        |  | 13,523 |                       |  | $ | 0.00                |  |  |  | January 1, 2020(1)(4) | 



Notes:

|(1) | Represent awards of options, restricted and performance shares which contractually will vest and any lock up provisions will expire immediately upon a change of control.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(2) | Represent performance shares related to the year ended December 31, 2014 after final adjustment in accordance with the applicable long term incentive (LTI) plan.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(3) | Represent performance shares related to the year ended December 31, 2015. The TSR adjustment for the period January 2015 to December 2016 is subject to shareholder approval at the next General Meeting of
Shareholders, which we anticipate will be held in June 2017.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(4) | Represent performance shares related to the year ended December 31, 2016. The initial award is subject to shareholder approval at the next General Meeting of Shareholders, which we anticipate will be held in June
2017.
|--- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(5) | Represent awards of restricted shares to Non-executive Directors that were approved at the General Meeting of Shareholders in June 2016. The awards, subject to the Non-executive Directors having served the entire period between the 2016 and 2017 General meeting of Shareholders, will vest at the next General Meeting of Shareholders, which we anticipate will be held in June
2017. After vesting, these restricted shares are subject to lock-up provisions.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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Employees

For a discussion of the number of employees, see Item 4 Information on the CompanyEmployees.



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ITEM 7: MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

Major Shareholders

The
following table sets forth information with respect to Directors, Senior Management and major shareholders, meaning shareholders that are beneficial owners of 5% or more of our ordinary shares as of March 16, 2017.

Beneficial ownership is determined in accordance with rules of the SEC and generally includes any shares over which a person exercises sole or
shared voting and/or investment power. Ordinary shares subject to options and warrants currently exercisable or exercisable within 60 days are deemed outstanding and have therefore been included in the number of shares owned and the calculation of
the percentage ownership of the person holding the options but are not deemed outstanding for computing the percentage ownership of any other person.



|                                |  |                          |           |  |            |  |      |  
|------------------------------- |  | ------------------------ | --------- |  | ---------- |  | ---- | -
|                                |  | SharesBeneficially owned |          
|Name of Beneficial Owner        |  | Number                   |           |  | Percent(%) | 
|5% Shareholders                 |  |                          |           |  |            |  |      |  
|Eminence Capital, LP(1)         |  |                          | 4,471,424 |  |            |  | 6.30 | %
|Directors and Senior Management |  |                          |           |  |            |  |      |  
|David Ruberg(2)                 |  |                          | 1,059,986 |  |            |  | 1.49 | %
|Jean F.H.P. Mandeville(3)       |  |                          | 10,084    |  |            |  | *    |  
|Frank Esser(3)                  |  |                          | 3,611     |  |            |  | *    |  
|Mark Heraghty3)                 |  |                          | 3,611     |  |            |  | *    |  
|Rob Ruijter(3)                  |  |                          | 3,611     |  |            |  | *    |  
|Josh Joshi(4)                   |  |                          | 117,281   |  |            |  | *    |  
|Giuliano Di Vitantonio(5)       |  |                          | 19,826    |  |            |  | *    |  
|Jaap Camman(6)                  |  |                          |          |  |            |  | *    |  
|Jan Pieter Anten (7)            |  |                          |          |  |            |  | *    |  
|Adriaan Oosthoek(8)             |  |                          | 4,043     |  |            |  | *    |  



Notes:

|(1) | Eminence Capital, LP filed a schedule 13G/A on February 16, 2017, in which it reported that 4,471,424 ordinary shares were held by direct and indirect subsidiaries of Eminence Capital, LP, in its role as the
management company to the Eminence Funds, with respect to ordinary shares directly owned by the Eminence Funds and the investment advisor to Eminence GP, LLC, separately managed accounts (SMA), with respect to ordinary shares directly
owned by the SMA. Eminence Capital may be deemed to have voting and dispositive power over the shares held for the accounts of the Eminence Funds and the SMA.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(2) | Mr. Ruberg is our President, Chief Executive Officer, Vice-Chairman and Executive Director. Mr. Rubergs total shares beneficially owned consist of ordinary shares, performance shares and options for our
ordinary shares.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(3) | Messrs Ruberg, Esser, Heraghty, Mandeville, and Ruijter own shares, restricted shares (subject to lock-up provisions) or share options.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------

|(4) | Mr. Joshi is our Chief Financial Officer. His total shares beneficially owned consist of restricted shares, performance shares and options for ordinary shares.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------

|(5) | Mr. Di Vitantonio is our Chief Marketing and Strategy Officer. His total shares beneficially owned consist of restricted shares and performance shares.
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------

|(6) | Mr. Camman is our Senior Vice President of Legal and Corporate Secretary.
|--- | -------------------------------------------------------------------------

|(7) | Mr. Anten is our Vice President of Human Resources.
|--- | ---------------------------------------------------

|(8) | Mr. Oosthoek is our Senior Vice President of Operations and ICT. Mr. Oosthoeks total shares beneficially owned, consist of restricted shares.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------

|* | Indicates beneficial ownership of less than 1 percent of the class of shares.
|- | -----------------------------------------------------------------------------



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We effected a registered public offering of our ordinary shares, which began trading on the NYSE
on January 28, 2011. Our major shareholders have the same voting rights as our other shareholders. As of March 16, 2016, we had 14 shareholders of record. Two of those, located in the United States, held in aggregate 70,047,531 ordinary
shares, representing approximately 99.8% of our outstanding ordinary shares. The United States shareholders of record include, however, Cede & Co., which, as nominee for The Depository Trust Company, is the record holder of 70,028,410
ordinary shares. Accordingly, we believe that the shares held by Cede & Co. include ordinary shares beneficially owned by both holders in the United States and non-United States beneficial owners. As
a result, these numbers may not accurately represent the number of beneficial owners in the United States.

As reported on Schedule 13G/A,
Amendment No. 1, filed February 14, 2013, by ING Groep N.V. with the SEC, as of that date, ING Groep N.V. and certain of its direct and indirect subsidiaries beneficially owned 4,412,704 ordinary shares of the Company, constituting 6.67%
of the outstanding ordinary shares. As reported on Schedule 13G/A, Amendment No. 2, filed on February 14, 2014, by ING Groep N.V. with the SEC, as of that date, ING Groep N.V. and certain of its direct and indirect subsidiaries
beneficially owned 2,223,152 ordinary shares of the Company, constituting 3.26% of the outstanding ordinary shares.

As reported on
Schedule 13G, filed on April 7, 2014, by Eminence Capital, LLC, Eminence GP, LLC and Ricky C. Sandler with the SEC, as of that date, Eminence Capital, LLC, Eminence GP, LLC and Ricky C. Sandler managed funds and advised accounts with aggregate
beneficial ownership of 3,889,362 ordinary shares, 3,486,181 ordinary shares and 3,889,362 ordinary shares of the Company, respectively, constituting 5.6%, 5.1% and 5.6% of the outstanding ordinary shares, respectively. As reported on Schedule
13G/A, Amendment No. 1, filed on February 17, 2015, by Eminence Capital, LP, Eminence GP, LLC and Ricky C. Sandler with the SEC, as of that date, Eminence Capital, LP, Eminence GP, LLC and Ricky C. Sandler managed funds and advised
accounts with aggregate beneficial ownership of 6,058,008 ordinary shares, 5,340,840 ordinary shares and 6,063,008 ordinary shares of the Company, respectively, constituting 8.8%, 7.7% and 8.8% of the outstanding ordinary shares, respectively. As
reported on Schedule 13G/A, Amendment No. 2, filed on February 16, 2016, by Eminence Capital, LP, Eminence GP, LLC and Ricky C. Sandler with the SEC, as of that date, Eminence Capital, LP, Eminence GP, LLC and Ricky C. Sandler managed
funds and advised accounts with aggregate beneficial ownership of 5,356,519 ordinary shares, 4,532,737 ordinary shares and 5,361,519 ordinary shares of the Company, respectively, constituting 7.7%, 6.5% and 7.7% of the outstanding ordinary shares,
respectively. As reported on Schedule 13G/A, Amendment No. 3, filed on February 14, 2017, by Eminence Capital, LP, Eminence GP, LLC and Ricky C. Sandler with the SEC, as of that date, Eminence Capital, LP, Eminence GP, LLC and Ricky C.
Sandler managed funds and advised accounts with aggregate beneficial ownership of 4,471,424 ordinary shares, 3,542,072 ordinary shares and 4,476,424 ordinary shares of the Company, respectively, constituting 6.3%, 5.0% and 6.3% of the outstanding
ordinary shares, respectively.

As reported on Schedule 13G/A, Amendment No. 2, filed on February 12, 2015, by Lamont Finance
N.V., Baker Communications Fund II, L.P., Baker Communications Fund II (Cayman), L.P., Baker Capital Partners II (Anguilla), LLC, Baker Capital Partners II, LLC, John C. Baker, Robert M. Manning and Henry G. Baker with the SEC, as of that date,
(i) Lamont Finance N.V., Baker Communications Fund II (Cayman), L.P. and Baker Capital Partners II (Anguilla), LLC beneficially owned 18,642,916 ordinary shares, constituting 27.0% of the outstanding ordinary shares of the Company,
(ii) Baker Communications Fund II, L.P. and Baker Capital Partners II, LLC beneficially owned 14,976 ordinary shares and 34,976 ordinary shares of the Company, respectively, constituting 0.0% and 0.1% of the outstanding ordinary shares,
respectively, and (iii) John C. Baker, Robert M. Manning and Henry G. Baker beneficially owned 18,745,557 ordinary shares, 18,695,083 ordinary shares and 18,683,643 ordinary shares of the Company, respectively, constituting 27.1%, 27.0% and
27.0% of the outstanding ordinary shares, respectively.

As reported on Form 6-K filed on
June 3, 2015 with the SEC, on June 2, 2015, Lamont Finance N.V. and Baker Communications Fund II, L.P. requested that we instruct our Transfer Agent, American Stock Transfer & Trust Company, to remove the restrictive legend on all
of the 18,657,592 ordinary shares held by Lamont Finance N.V. and Baker Communications Fund II, L.P. Baker Capital (Baker) made a pro rata
distribution-in-kind of these shares immediately to the partners of Baker Communications Fund II (Cayman) L.P. and Baker Communications Fund II L.P., which funds
initially acquired Interxion shares in 2000. Under the terms of the undertaking executed by Baker in support of the proposed transaction between Interxion and TelecityGroup plc, it was contemplated that Baker would make a full distribution of its
shares to its partners upon the closing of the transaction. The distribution was made following the termination of the proposed transaction with TelecityGroup plc and the related undertaking executed by Baker. As a result of the 18.6 million
ordinary share distribution by funds affiliated with Baker, Mr. John Baker (on June 5, 2015) and Mr. Rob Manning (on June 7, 2015), tendered their resignations as Directors, effective immediately. Mr. Jean F.H.P.
Mandeville was appointed as the new Chairman of the Board replacing Mr. Baker, effective June 8, 2015.



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As reported on Schedule 13G/A, Amendment No. 3, filed on February 11, 2016, by Lamont
Finance N.V., Baker Communications Fund II, L.P., Baker Communications Fund II (Cayman), L.P., Baker Capital Partners II (Anguilla), LLC, Baker Capital Partners II, LLC, John C. Baker, Robert M. Manning and Henry G. Baker with the SEC, as of that
date, Lamont Finance N.V., Baker Communications Fund II, L.P., Baker Communications Fund II (Cayman), L.P., Baker Capital Partners II (Anguilla), LLC and Baker Capital Partners II, LLC no longer beneficially owned any ordinary shares of the Company
and John C. Baker, Robert M. Manning and Henry G. Baker beneficially owned 166,500 ordinary shares, 28,015 ordinary shares and 19,191 ordinary shares of the Company, respectively, constituting 0.2%, 0.0% and 0.0% of the outstanding ordinary shares,
respectively.

As reported on Schedule 13G, filed on February 13, 2015, by North Run Capital, LP, North Run Advisors, LLC, Todd B.
Hammer and Thomas B. Ellis with the SEC, as of that date, certain private pooled investment vehicles beneficially owned 4,950,300 ordinary shares of the Company, constituting 7.2% of the outstanding ordinary shares. As reported on Schedule 13G/A,
Amendment No. 1, filed on February 12, 2016, by North Run Capital, LP, North Run Advisors, LLC, Todd B. Hammer and Thomas B. Ellis with the SEC, as of that date, certain private pooled investment vehicles no longer beneficially owned any
ordinary shares of the Company.

As reported on Schedule 13G, filed on February 12, 2016, by Thornburg Investment Management Inc with
the SEC, as of that date, Thornburg Investment Management Inc beneficially owned 4,581,372 ordinary shares of the Company, constituting 6.58% of the outstanding ordinary shares. As reported on Schedule 13G/A, Amendment No. 1, filed on
February 8, 2017, by Thornburg Investment Management Inc with the SEC, as of that date, Thornburg Investment Management Inc beneficially owned 2,130,044 ordinary shares of the Company, constituting 3.02% of the outstanding ordinary shares.

To our knowledge, we are not directly or indirectly owned or controlled by any other corporation, by any foreign government or by any other
natural or legal person either severally or jointly. As far as is known to us, there are no arrangements the operation of which may, at a subsequent date, result in a change in control of the Company.



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ITEM 8: FINANCIAL INFORMATION

Reference is made to Item 18 for a list of all financial statements filed as part of this annual report. For information on legal
proceedings, please refer to Item 4 Information on the Company, above.

Dividends and Dividend Policy

We have never declared or paid cash dividends on our ordinary shares. We currently intend to retain any future earnings to fund the development
and growth of our business and do not currently anticipate paying dividends on our ordinary shares. Our Board of Directors has the discretion to determine to what extent profits shall be retained by way of a reserve. The remaining profits will be at
the disposal of our General Meeting of Shareholders for distribution of a dividend or to be added to the reserves or for such other purposes as our General Meeting of Shareholders decides, upon a proposal of our Board of Directors. Our Board of
Directors, in determining whether to recommend to our shareholders the payment of dividends, will consider our ability to declare and pay dividends in light of our future operations and earnings, capital expenditure requirements, general financial
conditions, legal and contractual restrictions and other factors that it may deem relevant. In addition, our outstanding 625.0 million 6.00% Senior Secured Notes due 2020 and our credit agreements limit our ability to pay dividends and we
may in the future become subject to debt instruments or other agreements that further limit our ability to pay dividends. To the extent we pay dividends in euro, the amount of U.S. dollars realized by shareholders will vary depending on the rate of
exchange between U.S. dollars and euro. Shareholders will bear any costs related to the conversion of euro into U.S. dollars.

We are a
holding company incorporated in The Netherlands. Under Dutch law, we may only pay dividends out of our profits or our share premium account subject to our ability to service our debts as they fall due in the ordinary course of our business and
subject to Dutch law and our Articles of Association. See Item 10 Additional InformationGeneral. We rely on dividends paid to us by our wholly-owned subsidiaries in the United Kingdom, France, Germany, Austria, The
Netherlands, Ireland, Spain, Sweden, Switzerland, Belgium and Denmark to fund the payment of dividends, if any, to our shareholders.



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ITEM 9: THE OFFER AND LISTING

Markets

Our ordinary shares began
trading on the NYSE under the symbol INXN on January 28, 2011.

New York Stock Exchange Trading History

The following table shows, for the periods indicated, the high and low sales prices per ordinary share as reported on the NYSE.



|                                      |  |                        |       |  |     |  |       | 
|------------------------------------- |  | ---------------------- | ----- |  | --- |  | ----- | 
|Yearly highs and lows                 |  | High                   |       |  | Low | 
|                                      |  | ($ per ordinary share) |      
|2016                                  |  |                        | 38.85 |  |     |  | 26.75 | 
|2015                                  |  |                        | 33.16 |  |     |  | 25.85 | 
|2014                                  |  |                        | 29.01 |  |     |  | 23.25 | 
|2013                                  |  |                        | 27.67 |  |     |  | 20.67 | 
|2012                                  |  |                        | 23.76 |  |     |  | 13.57 | 
|                                      |  |                       
|Quarterly highs and lows              |  | High                   |       |  | Low | 
|                                      |  | ($ per ordinary share) |      
|                                      |  |                       
|2016                                  |  |                        |       |  |     |  |       | 
|First quarter                         |  |                        | 34.70 |  |     |  | 26.75 | 
|Second quarter                        |  |                        | 38.70 |  |     |  | 33.22 | 
|Third quarter                         |  |                        | 38.72 |  |     |  | 35.98 | 
|Fourth quarter                        |  |                        | 38.85 |  |     |  | 32.21 | 
|                                      |  |                       
|2015                                  |  |                        |       |  |     |  |       | 
|First quarter                         |  |                        | 33.16 |  |     |  | 26.23 | 
|Second quarter                        |  |                        | 32.00 |  |     |  | 27.04 | 
|Third quarter                         |  |                        | 29.18 |  |     |  | 25.85 | 
|Fourth quarter                        |  |                        | 31.48 |  |     |  | 26.25 | 
|                                      |  |                       
|2014                                  |  |                        |       |  |     |  |       | 
|First quarter                         |  |                        | 25.81 |  |     |  | 23.25 | 
|Second quarter                        |  |                        | 27.59 |  |     |  | 23.64 | 
|Third quarter                         |  |                        | 29.01 |  |     |  | 26.58 | 
|Fourth quarter                        |  |                        | 28.60 |  |     |  | 24.97 | 
|                                      |  |                       
|2013                                  |  |                        |       |  |     |  |       | 
|First quarter                         |  |                        | 26.28 |  |     |  | 22.56 | 
|Second quarter                        |  |                        | 27.67 |  |     |  | 22.73 | 
|Third quarter                         |  |                        | 27.32 |  |     |  | 22.24 | 
|Fourth quarter                        |  |                        | 23.61 |  |     |  | 20.67 | 
|                                      |  |                       
|2012                                  |  |                        |       |  |     |  |       | 
|First quarter                         |  |                        | 18.10 |  |     |  | 13.57 | 
|Second quarter                        |  |                        | 20.28 |  |     |  | 15.82 | 
|Third quarter                         |  |                        | 22.72 |  |     |  | 17.49 | 
|Fourth quarter                        |  |                        | 23.76 |  |     |  | 20.26 | 
|                                      |  |                       
|2011                                  |  |                        |       |  |     |  |       | 
|First quarter (from January 28, 2011) |  |                        | 15.88 |  |     |  | 12.11 | 
|Second quarter                        |  |                        | 15.62 |  |     |  | 12.93 | 
|Third quarter                         |  |                        | 15.39 |  |     |  | 10.71 | 
|Fourth quarter                        |  |                        | 14.24 |  |     |  | 11.12 | 



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|                               |  |                        |       |  |     |  |       | 
|------------------------------ |  | ---------------------- | ----- |  | --- |  | ----- | 
|Monthly highs and lows         |  | High                   |       |  | Low | 
|                               |  | ($ per ordinary share) |      
|                               |  |                       
|2017                           |  |                        |       |  |     |  |       | 
|January                        |  |                        | 38.66 |  |     |  | 34.35 | 
|February                       |  |                        | 39.52 |  |     |  | 37.80 | 
|March (through March 27, 2017) |  |                        | 40.00 |  |     |  | 36.94 | 
|                               |  |                       
|2016                           |  |                        |       |  |     |  |       | 
|October                        |  |                        | 38.85 |  |     |  | 35.82 | 
|November                       |  |                        | 37.41 |  |     |  | 33.30 | 
|December                       |  |                        | 35.53 |  |     |  | 32.21 | 

On March 27, 2017, the closing price of InterXions ordinary shares listed on The New York Stock Exchange
was $38.62.



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ITEM 10: ADDITIONAL INFORMATION

Material contracts

The Intercreditor Agreement dated as of July 3, 2013, among InterXion Holding N.V. and certain of its subsidiaries and Barclays Bank
PLC as security trustee.

The intercreditor agreement entered into in connection with the Revolving Facility Agreement and the
Indenture is referred to in this description as the Intercreditor Agreement and InterXion Holding N.V. and each of its subsidiaries that incurs any liability or provides any guarantee under the Revolving Facility Agreement or the
Indenture is referred to in this description as a Debtor and are referred to collectively as the Debtors.

In
connection with the Revolving Facility Agreement, InterXion Holding N.V. and certain of its subsidiaries entered into an English law governed intercreditor agreement governing the relationships and relative priorities among: (i) the Lenders (as
defined below); (ii) original hedge counterparty or other persons that accede to the intercreditor agreement as counterparties to certain hedging agreements (the Hedging Agreements; the original hedge counterparty and any other person
that accedes to the intercreditor agreement as counterparties to the Hedging Agreements are referred to in such capacity as the Hedge Counterparties); (iii) the holders of the Senior Secured Notes and (iv) intra-group creditors and
debtors. In addition, the intercreditor agreement regulates the relationship between InterXion Holding N.V. and its subsidiaries, on the one hand, and shareholders of InterXion Holding N.V. and related parties, on the other.

The Intercreditor Agreement, among other things, sets out:



| |  |  | the relative ranking of certain indebtedness of the Debtors (including under the Revolving Facility Agreement and the Senior Secured Notes);
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the relative ranking of certain security granted by the Debtors;
| | - |  | ----------------------------------------------------------------



| |  |  | when payments can be made in respect of certain indebtedness of the Debtors (including the Revolving Facility Agreement and the Senior Secured Notes);
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | when enforcement actions can be taken in respect of that indebtedness and the distribution of any enforcement proceeds;
| | - |  | -----------------------------------------------------------------------------------------------------------------------



| |  |  | the terms pursuant to which that indebtedness will be subordinated upon the occurrence of certain insolvency events;
| | - |  | --------------------------------------------------------------------------------------------------------------------



| |  |  | turnover provisions; and
| | - |  | ------------------------



| |  |  | when security and guarantees will be released to permit a sale of the collateral.
| | - |  | ---------------------------------------------------------------------------------

The
Intercreditor Agreement allows for the issuance of senior unsecured notes by InterXion Holding N.V., and for such senior unsecured notes to be guaranteed by the Debtors on a subordinated basis, and includes customary provisions in relation to
issuance of the senior unsecured notes. By accepting a note, holders of the notes shall be deemed to have agreed to, and accepted the terms and conditions of, the Intercreditor Agreement.

The Revolving Facility Agreement dated as of June 17, 2013, among InterXion Holding N.V. and the financial institutions party
thereto, as Lenders and Barclays Bank PLC, as agent and security trustee.

On June 17, 2013, we entered into the English law
governed Revolving Facility Agreement between, among others, InterXion Holding N.V., the lenders named therein (the Lenders) and Barclays Bank PLC as agent (the Agent) and security trustee, pursuant to which a
100.0 million revolving facility has been made available to the Company.

Borrowings under the Revolving Facility will be used
to finance our general corporate and working capital needs (including capital expenditure, acquisitions and investments, which are not prohibited by the Revolving Facility Agreement), but not the prepayment, repayment or redemption of bonds, term
debt or replacement debt (or any interest in any bonds, term debt or replacement debt) and the purchase of bonds, term debt or replacement debt in open market purchases or otherwise (as such terms are defined in the Revolving Facility Agreement).



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The Revolving Facility initially bears interest at an annual rate equal to EURIBOR (or, for loans
denominated in Sterling, USD, DKK, SEK or CHF, LIBOR, CIBOR or STIBOR (as applicable, plus a margin of 3.50% per annum, subject to a margin ratchet pursuant to which the margin may be reduced by up to a maximum of 1.00% per annum if total net debt
(as defined in the Revolving Facility Agreement) at each quarter end to the pro forma EBITDA for the 12 months ending on that quarter end (as such terms are defined in the Revolving Facility Agreement) is equal to, or less than, 2.00:1.

We are also required to pay a commitment fee, quarterly in arrears, on available but undrawn commitments under the Revolving Facility at a
rate of 40.0% of the then applicable margin.

The Revolving Facility Agreement has a final maturity date of July 3, 2018. Any amount
still outstanding at that time will be immediately due and payable. Subject to certain conditions, any borrower under the Revolving Facility Agreement may voluntarily prepay the utilizations and the borrower may permanently cancel all or part of the
available commitments under the Revolving Facility in a minimum amount of 5,000,000 by giving not less than three business days (or such shorter period as the required majority lenders under the Revolving Facility Agreement agree) prior
notice to the Agent (as defined in the Revolving Facility Agreement).

We may reborrow amounts repaid, subject to certain conditions,
until one month before final maturity.

In addition to voluntary prepayments, the Revolving Facility Agreement requires mandatory
prepayment (or, as the case may be, an offer to do so) in full or in part in certain circumstances, including:



| |  |  | with respect to any lender, if it becomes unlawful for such lender to perform any of its obligations under the Revolving Facility Agreement or to maintain its participation in any loan under the Revolving Facility;
| | - |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | if a lender so requires in respect of that lenders participation in an outstanding loan under the Revolving Facility, upon a Change of Control (as defined in the Revolving Facility Agreement); and/or
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | upon the occurrence of the sale of all or substantially all of the assets of the Group.
| | - |  | ---------------------------------------------------------------------------------------

Drawdowns under the Revolving Facility are subject to satisfaction of certain conditions precedent on the date the applicable drawdown is
requested and on the date such loan is utilized including: (i) no default (or event of default for rollover of existing loans at the end of an interest period) is continuing or would result from such drawdown and (ii) certain repeating
representations and warranties specified in the Revolving Facility Agreement being true in all material respects.

The Revolving Facility
is guaranteed irrevocably and unconditionally on a joint and several basis by certain members of the Group (subject to applicable local law limitations). Borrowings under the Revolving Facility are secured by various share pledges, inter-company
loan receivables owed to the Company or any of the guarantors under the Revolving Facility and the bank accounts of the Company and the guarantors under the Revolving Facility.

The Revolving Facility Agreement contains customary operating and restrictive covenants, subject to certain agreed exceptions, qualifications
and thresholds as well as customary events of default (subject in certain cases to agreed grace periods, qualifications and thresholds), including a cross default with respect to an event of default under the Indenture (as defined below) governing
the Senior Secured Notes due 2020 (as defined below). The Revolving Facility also requires InterXion Holding N.V., each borrower and each guarantor to observe certain customary affirmative covenants (subject to certain agreed exceptions,
qualifications and thresholds) and requires InterXion Holding N.V. to comply with a leverage ratio financial covenant (calculated as the ratio of consolidated total net debt at each quarter end to pro forma EBITDA for the 12 months ending on that
quarter end).

The Indenture dated July 3, 2013, among InterXion Holding N.V., as Issuer, the initial guarantors, the Bank of
New York Mellon, London Branch, as trustee, principal paying agent and transfer agent, The Bank of New York Mellon (Luxembourg) S.A., as registrar and Luxembourg paying agent and Barclays Bank PLC, as security trustee.

On July 3, 2013, the Company issued an aggregate principal amount of 325.0 million 6.00% Senior Secured Notes due 2020 (the
Initial Notes). On April 29, 2014, the Company issued a further 150.0 million aggregate principal amount of 6.00% Senior Secured Notes due 2020. On April 14, 2016, the Company issued a further
150.0 million aggregate principal amount of 6.00% Senior Secured Notes due 2020. The notes issued on April 29, 2014 and April 14, 2016, are defined as the Additional Notes and together with the Initial Notes, as the
Senior Secured Notes. The Additional Notes were issued pursuant to the same indenture as the Initial Notes.



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The aggregate 625.0 million Senior Secured Notes due 2020 are governed by an indenture
dated July 3, 2013, between the Company, as issuer, and The Bank of New York Mellon, London Branch, as Trustee. The indenture contains customary restrictive covenants, including but not limited to limitations or restrictions on our ability to
incur debt, grant liens, make restricted payments and sell assets. The restrictive covenants are subject to customary exceptions and are governed by a consolidated fixed charge ratio to exceed 2.00 and a consolidated senior leverage ratio not to
exceed 4.00.

The obligations under the 625.0 million Senior Secured Notes due 2020 are guaranteed by certain of the
Companys subsidiaries.

Optional Redemption

At any time on or after July 15, 2016, and before maturity, upon not less than 10 and not more than 60 days notice, we may redeem
all or part of the Senior Secured Notes. These redemptions will be in amounts of 100,000 or integral multiples of 1,000 in excess thereof at the following redemption prices (expressed as percentages of their principal amount at
maturity), plus accrued and unpaid interest, if any, to the redemption date, if redeemed during the 12-month period commencing on July 15 of the years set forth below.



|                    |  |                  |         |  
|------------------- |  | ---------------- | ------- | -
|Year                |  | Redemption price |        
|2016                |  |                  | 104.500 | %
|2017                |  |                  | 103.000 | %
|2018                |  |                  | 101.500 | %
|2019 and thereafter |  |                  | 100.000 | %

General

Incorporation and Registered Office

We
were incorporated on April 6, 1998 as a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) under the laws of The Netherlands. On January 11, 2000, we were converted from a B.V. to a limited
liability company (naamloze vennootschap) under the laws of The Netherlands.

Our corporate seat is in Amsterdam, The Netherlands.
We are registered with the Trade Register of the Chamber of Commerce in Amsterdam under number 33301892. Our executive offices are located at Tupolevlaan 24, 1119 NX Schiphol-Rijk, The Netherlands. Our telephone number is +31 20 880 7600.

Articles of Association and Dutch Law

Set forth below is a summary of relevant information concerning our share capital and of material provisions of our Articles of Association
(the Articles) and applicable Dutch law. This summary does not constitute legal advice regarding those matters and should not be regarded as such.

Corporate Purpose

Pursuant to Article 3 of our Articles, our corporate purpose is:



| | (a) | to incorporate, to participate in any way whatsoever in, to manage, to supervise businesses and companies;
| | --- | ----------------------------------------------------------------------------------------------------------



| | (b) | to finance businesses and companies;
| | --- | ------------------------------------



| | (c) | to borrow, to lend and to raise funds, including through the issue of bonds, debt instruments or other securities or evidence of indebtedness as well as to enter into agreements in connection with aforementioned
activities;
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (d) | to render advice and services to businesses and companies, with which the Company forms a group and to third parties;
| | --- | ---------------------------------------------------------------------------------------------------------------------



| | (e) | to grant guarantees, to bind the Company and to pledge its assets for obligations of businesses and companies, with which it forms a group and on behalf of third parties; and
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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| | (f) | to perform any and all activities of an industrial, financial or commercial nature, and to do all that is connected therewith or may be conducive thereto, all to be interpreted in the broadest sense.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Issue of Ordinary Shares

Our Articles provide that we may issue ordinary shares, or grant rights to subscribe for ordinary shares, pursuant to a resolution of our
General Meeting of Shareholders upon a proposal of our Board. Our Articles provide that our General Meeting of Shareholders may, upon a proposal of our Board, designate another body of the Company, which can only be our Board, as the competent body
to issue ordinary shares, or grant rights to subscribe for ordinary shares. Pursuant to our Articles and Dutch law, the period of designation may not exceed five years, but may be renewed by a resolution of our General Meeting of Shareholders for
periods of up to five years. If not otherwise stated in the resolution approving the designation, such designation is irrevocable. The resolution designating our Board must specify the number of shares that may be issued and, if applicable, any
conditions to the issuance.

Pursuant to a decision that was made at our General Meeting of Shareholders held on January 26, 2011,
certain amendments were made to our Articles of Association on January 28, 2011. Among others, our Board was designated as the corporate body competent to issue ordinary shares and to grant rights to subscribe for ordinary shares with the power
to limit or exclude pre-emptive rights related thereto. This authority is limited to a maximum equal to our authorized share capital from time to time. Our Boards authority to issue ordinary shares and
grant rights to acquire ordinary shares was for a period of five years and expired on January 28, 2016.

On June 24, 2016, our
General Meeting of Shareholders designated our Board as the corporate body competent to issue ordinary shares and to grant rights to subscribe for up to 3,501,301 ordinary shares, without pre-emption rights
accruing to shareholders for the purpose of our employee incentive schemes, and to issue ordinary shares and to grant rights to subscribe for ordinary shares up to 10% of the authorized share capital at that time. Our Boards authority to issue
ordinary shares and grant rights to acquire ordinary shares is for a period of 18 months expiring on December 24, 2017. Our General Meeting of Shareholders may extend this period, subject to the limitations set out above.

Ordinary shares may not be issued at less than their nominal value and must be fully paid up upon issue.

No resolution of our General Meeting of Shareholders or our Board is required for an issue of ordinary shares pursuant to the exercise of a
previously granted right to subscribe for ordinary shares.

Pre-emptive Rights

Dutch law and our Articles generally give our shareholders pre-emptive rights to subscribe in
proportion to the aggregate nominal value of the Shares held by the respective shareholder for any issue of new ordinary shares or grant of rights to subscribe for ordinary shares. Exceptions to these
pre-emptive rights include: (i) the issue of ordinary shares and the grant of rights to subscribe for ordinary shares to our employees, or a group company in accordance with section 2:24b of the Dutch
Civil Code, (ii) the issue of ordinary shares in exchange for non-cash contributions, and (iii) the issue of ordinary shares which are issued to a person exercising a right to subscribe for ordinary
shares previously granted.

A shareholder has the legal right to exercise pre-emption rights for
at least two weeks after the date of the announcement of the issue or grant. However, our General Meeting of Shareholders, or our Board if so designated by our General Meeting of Shareholders, may restrict or exclude
pre-emptive rights. A resolution by our General Meeting of Shareholders to designate another corporate body, which can only be our Board, as the competent authority to exclude or restrict pre-emptive rights requires a proposal by our Board and approval by a majority of at least two-thirds of the valid votes cast at our General Meeting of Shareholders if less
than half of our issued and outstanding share capital is present or represented. A simple majority is sufficient if more than half of our issued and outstanding share capital is present or represented. A resolution by our General Meeting of
Shareholders to designate our Board as the competent authority to exclude or restrict pre-emptive rights must be for a fixed period not exceeding five years and is only possible if our Board is simultaneously
designated as the corporate body authorized to issue ordinary shares. If not otherwise stated in the resolution approving designation, such designation is irrevocable. If our General Meeting of Shareholders has not designated our Board, our General
Meeting of Shareholders itself is the corporate body authorized to restrict or exclude pre-emptive rights upon a proposal by our Board.



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Our Board is designated as the corporate body authorized to limit or exclude pre-emptive rights, subject to the limited authority it has to issue ordinary shares and grant rights to subscribe for ordinary shares as set out under Issue of Ordinary Shares above, for a period
of ending on January 28, 2016. In addition, our Board was designated as the corporate body authorized, subject to the limited authority it has to issue ordinary shares and grant rights to subscribe for ordinary shares, with our pre-emption rights accruing to shareholders for the purpose of our employee incentive schemes as set out under Issue of Ordinary Shares above, for a period that ended on December 31, 2016.

Reduction of Share Capital

Our General Meeting of Shareholders may, subject to Dutch law and our Articles and only upon a proposal of our Board, resolve to reduce our
issued share capital by cancellation of ordinary shares or reduction of the nominal value of ordinary shares by amendment of our Articles. A resolution of our General Meeting of Shareholders to reduce the issued share capital must designate the
ordinary shares to which the resolution applies and must make provisions for the implementation of such resolution. A resolution to cancel ordinary shares may only be adopted in relation to ordinary shares or depositary receipts for such shares we
hold ourselves. A partial repayment or exemption from the obligation to pay up ordinary shares must be made pro rata, unless all our shareholders agree otherwise. A resolution at our General Meeting of Shareholders to reduce our issued share capital
requires a majority of at least two-thirds of the votes validly cast at a meeting at which less than half of our issued and outstanding share capital is present or represented. A simple majority is sufficient
if more than half of our issued and outstanding share capital is present or represented.

Acquisition of Ordinary Shares

We may acquire our own fully paid up ordinary shares at any time for no consideration or, subject to certain provisions of Dutch
law and our Articles, if (i) our shareholders equity minus the payment required to make the acquisition, does not fall below the sum of called-up and paid-up
share capital and any statutory reserves we must maintain by Dutch law or our Articles, and (ii) we and our subsidiaries would thereafter not hold ordinary shares or rights of pledge over ordinary shares with an aggregate nominal value
exceeding 50% of our issued and outstanding share capital.

Dutch law generally and more specifically the Dutch Civil Code, imposes
minimum capital and other reserve requirements on legal entities as a way of protecting shareholders and creditors and maintaining the capital of a company. Such minimum capital and reserve requirements include, among other things, complying with
certain minimum capital requirements when declaring and paying dividends and repurchasing shares in its own capital, maintaining reserves on the granting of legitimate financial assistance loans by a public limited company and maintaining reserves
on the re-evaluation of assets.

An acquisition of ordinary shares for a consideration must be
authorized by our General Meeting of Shareholders. Such authorization may be granted for a maximum period of 18 months and must specify the number of ordinary shares that may be acquired, the manner in which ordinary shares may be acquired and the
price limits within which ordinary shares may be acquired. Authorization is not required for the acquisition of ordinary shares in order to transfer them to our employees. The actual acquisition may only be effected by a resolution of our Board.

Any ordinary shares held by us in our own capital may not be voted on or counted for quorum purposes.

Exchange Controls and Other Provisions Relating to Non-Dutch Shareholders

There are no Dutch exchange control restrictions on investments in, or payments on, the ordinary shares. There are no special restrictions in
our Articles or Dutch law that limit the right of shareholders who are not citizens or residents of The Netherlands to hold or vote the ordinary shares.

Dividends and Distributions

We may only make distributions to our shareholders in so far as our equity exceeds the sum of our
paid-in and called-up share capital plus the reserves we are required to maintain by Dutch law or our proposed Articles. Under our Articles, our Board may determine that
a portion of the profits of the current financial year shall be added to our reserves. The remaining profits are at the disposal of our General Meeting of Shareholders.

We may only make distributions of dividends to our shareholders after the adoption of our statutory annual accounts from which it appears that
such distributions are legally permitted. Our Board may, however, resolve to pay interim dividends on account of the profits of the current financial year if the equity requirement set out above is met, as evidenced by an interim



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statement of assets and liabilities relating to the condition of such assets and liabilities on a date no earlier than the first day of the third month preceding the month in which the resolution
to distribute interim dividends is made public. Our General Meeting of Shareholders may resolve, upon a proposal to that effect by our Board, to pay distributions at the expense of any of our reserves.

In addition, if we choose to declare dividends, the payment of cash dividends on our shares is restricted under the terms of the agreements
governing our indebtedness.

Dividends and other distributions may be made in cash or, but only at all times with the approval of the
Board, in ordinary shares. Dividends and other distributions are due and payable as from the date determined by the corporate body resolving on the distribution. Claims to dividends and other declared distributions lapse after five years from the
date that such dividends or distributions became payable and any such amounts not collected within this period revert to us and are allocated to our general reserves.

General Meetings of Shareholders and Voting Rights

Our Annual General Meeting of Shareholders must be held within six months of the end of each of our financial years. It must be held in The
Netherlands in Amsterdam, Haarlemmermeer (Schiphol Airport) or Hoofddorp. Our financial year coincides with the calendar year. An Extraordinary General Meeting of Shareholders may be convened whenever our Board or CEO deems necessary. Shareholders
representing at least 10% of our issued and outstanding share capital may, pursuant to Dutch law and our Articles, request that a General Meeting of Shareholders be convened, specifying the items for discussion. If our Board has not convened a
General Meeting of Shareholders within four weeks of such a request so that a meeting can be held within six weeks following the request, the shareholders requesting the meeting are authorized to call a meeting themselves with due observance of the
relevant provisions of our Articles.

The notice convening any General Meeting of Shareholders must include an agenda indicating the items
for discussion, or it must state that the shareholders and any holders of depositary receipts for ordinary shares may review such agenda at our main offices in The Netherlands. We will have the notice published by electronic means of communication
which is directly and permanently accessible until the meeting and in such other manner as may be required to comply with any applicable rules of the NYSE. The explanatory notes to the agenda must contain all facts and circumstances that are
relevant for the proposals on the agenda. Such explanatory notes and the agenda will be placed on our website.

Shareholders holding at
least 1% of our issued and outstanding share capital or ordinary shares representing a value of at least 50.0 million may submit agenda proposals for any General Meeting of Shareholders. Provided we receive such proposals no later than 60
days before the date of the General Meeting of Shareholders, and provided that such proposal does not, according to our Board, conflict with our vital interests, we will have the proposals included in the notice.

Each of the ordinary shares confers the right to cast one vote. Each shareholder entitled to participate in a General Meeting of Shareholders,
either in person or through a written proxy, is entitled to attend and address the meeting and, to the extent that the voting rights accrue to him, to exercise his voting rights in accordance with our Articles. The voting rights attached to any
ordinary shares, or ordinary shares for which depositary receipts have been issued, are suspended as long as they are held in treasury.

Our Board may allow shareholders to, in person or through a person holding a written proxy, participate in a General Meeting of Shareholders,
including to take the floor and, to the extent applicable, to exercise voting rights, through an electronic means of communication. Our Board selects the means of electronic communication and may subject its use to conditions.

To the extent that our Articles or Dutch law do not require a qualified majority, all resolutions of our General Meeting of Shareholders shall
be adopted by a simple majority of the votes cast.

The following resolutions of our General Meeting of Shareholders may be adopted only
upon a proposal by our Board:



| | (a) | to effect a statutory merger (juridische fusie) or demerger (juridische splitsing);
| | --- | -----------------------------------------------------------------------------------



| | (b) | to issue ordinary shares or to restrict or exclude pre-emption rights on ordinary shares to the extent the authority to issue has not been delegated to our Board;
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | to designate our Board as the corporate body authorized to issue ordinary shares or rights to subscribe for ordinary shares and to restrict or to exclude the pre-emption rights on
ordinary shares or rights to subscribe for ordinary shares;
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (d) | to reduce our issued share capital;
| | --- | -----------------------------------



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| | (e) | to make a whole or partial distribution of reserves;
| | --- | ----------------------------------------------------



| | (f) | to amend our Articles of Association or change our corporate form; and
| | --- | ----------------------------------------------------------------------



| | (g) | to dissolve us.
| | --- | ---------------

Amendment of our Articles of Association

Our General Meeting of Shareholders may resolve to amend our Articles upon a proposal made by our Board.

Dissolution and Liquidation

Under our Articles, we may be dissolved by a resolution of our General Meeting of Shareholders upon a proposal of our Board.

In the event of dissolution, our business will be liquidated in accordance with Dutch law and our Articles and the liquidation shall be
effected by our Board. During liquidation, the provisions of our Articles will remain in force to the extent possible. Any assets remaining upon completion of the dissolution will be distributed to the holders of ordinary shares in proportion to the
aggregate nominal amount of their ordinary shares.

Disclosure of Information

Dutch law contains specific rules intended to prevent insider trading, tipping and market manipulation. We are subject to these rules and
accordingly, we have adopted a code of securities dealings in relation to our securities.

Squeeze Out

If a shareholder, alone or together with group companies, (the Controlling Entity) holds a total of at least 95% of a
companys issued share capital by nominal value for its own account, Dutch law permits the Controlling Entity to acquire the remaining shares in the controlled entity (the Controlled Entity) by initiating proceedings against the
holders of the remaining shares. The price to be paid for such shares will be determined by the Enterprise Chamber of the Amsterdam Court of Appeal (the Enterprise Chamber). A Controlling Entity that holds less than 95% of the shares in
the Controlled Entity, but that in practice controls the Controlled Entitys General Meeting of Shareholders, could attempt to obtain full ownership of the business of the Controlled Entity through a legal merger of the Controlled Entity with
another company controlled by the Controlling Entity, by subscribing to additional shares in the Controlled Entity (for example, in exchange for a contribution of part of its own business), through another form of reorganization aimed at raising its
interest to 95% or through other means.

In addition to the general squeeze-out procedure
mentioned above, following a public offer, a holder of at least 95% of the outstanding shares and voting rights has the right to require the minority shareholders to sell their shares to it. To the extent there are two or more types of shares, the
request can only be made with regard to the type of shares of which the shareholder holds at least 95% in aggregate representing at least 95% of the voting rights attached to those shares. Any request to require the minority shareholders to sell
their shares must be filed with the Enterprise Chamber within three months of the end of the acceptance period of the public offer. Conversely, in such a case, each minority shareholder has the right to require the holder of at least 95% of the
outstanding shares and voting rights to purchase its shares. The minority shareholders must file such claim with the Enterprise Chamber within three months of the end of the acceptance period of the public offer.

Reporting of Insider Transactions

Pursuant to the European Market Abuse Regulation (EU) 596/2014, the Directors and any other person who has managerial responsibilities or who
has the authority to make decisions affecting our future developments and business prospects or who has regular access to inside information relating to us (each an Insider), must notify The Netherlands Authority for the Financial
Markets (AFM) of all transactions conducted for his own account relating to shares or debt instruments of the Company admitted to trading on a regulated market or multilateral trading facility or financial instruments the value of which
is determined by the value of such shares or debt instruments. The AFM must be notified within three days following the transaction date. Notification may be postponed until the date the value of the transactions amounts to 5,000 or more per
calendar year.

In addition, persons closely associated with an Insider must notify the AFM of any transactions conducted for their own
account relating to such aforementioned financial instruments. The Market Abuse Regulation designates the following categories of persons: (i) the spouse or any partner considered by applicable law as equivalent to the spouse,
(ii) dependent children, (iii) other relatives who have shared the same household for at least one year at the relevant transaction date, and (iv) any legal person, trust or partnership, among other things, whose managerial
responsibilities are discharged by a Director or any other Insider or by a person referred to under (i), (ii) or (iii) above.



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The AFM keeps a public register of all notifications made pursuant to the Market Abuse
Regulation.

Pursuant to the rules against insider trading we have, among other things, further adopted rules governing the holding of,
reporting and carrying out of transactions in our securities by the Directors or our employees. Further, we have drawn up a list of those persons working for us who could have access to inside information on a regular or incidental basis and have
informed the persons concerned of the rules against insider trading and market manipulation including the sanctions which can be imposed in the event of a violation of those rules.

Non-compliance with the notification obligations under the Market Abuse Regulation could lead to
criminal penalties, administrative fines and cease-and-desist orders (and the publication thereof), imprisonment or other sanctions.

Following the introduction on 3 July 2016 of the Market Abuse Regulation (which has replaced the former market abuse rules), the
aforementioned notification obligation is limited to transactions involving our Senior Secured Notes and financial instruments the value of which is determined by the value of such Senior Secured Notes.

Comparison of Dutch Corporate Law and U.S. Corporate Law

The following comparison between Dutch corporation law, which applies to us, and Delaware corporation law, the law under which many
corporations in the United States are incorporated, discusses additional matters not otherwise described in this annual report.

Duties
of directors

The Netherlands

Under Dutch law, the Board of Directors is collectively responsible for the policy and day-to-day management of the Company. The non-executive directors will be assigned the task of supervising the executive directors and providing them with advice. Each
director has a duty to the Company to properly perform the duties assigned to him. In addition, each Board member has a duty to act in the corporate interest of the Company. Under Dutch law, the corporate interest extends to the interests of all
corporate stakeholders, such as shareholders, creditors, employees, customers and suppliers. The duty to act in the corporate interest of the Company also applies in the event of a proposed sale or break-up of
the Company, whereby the circumstances generally dictate how such duty is to be applied. Any board resolution regarding a significant change in the identity or character of the Company or its business requires shareholders approval.

Delaware

The Board of Directors of a Delaware corporation bears the ultimate responsibility for managing the business and affairs of a corporation. In
discharging this function, directors of a Delaware corporation owe fiduciary duties of care and loyalty to the corporation and to its shareholders. Delaware courts have decided that the directors of a Delaware corporation are required to exercise an
informed business judgment in the performance of their duties. An informed business judgment means that the directors have informed themselves of all material information reasonably available to them. Delaware courts have also imposed a heightened
standard of conduct upon directors of a Delaware corporation who take any action designed to defeat a threatened change in control of the corporation. In addition, under Delaware law, when the Board of Directors of a Delaware corporation approves
the sale or break-up of a corporation, the Board of Directors may, in certain circumstances, have a duty to obtain the highest value reasonably available to the shareholders.

Director terms

The Netherlands

Under Dutch law, a director of a listed company is generally appointed for a maximum term of four years.



Delaware

The Delaware General Corporation Law generally provides for a one-year term for directors, but permits
directorships to be divided into up to three staggered classes with up to three-year terms, with the terms for each class expiring in different years, if permitted by the certificate of incorporation, an initial bylaw or a bylaw adopted by the
shareholders, with exceptions if the board is classified or if the company has cumulative voting.



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Director vacancies

The Netherlands

Under Dutch law, new members of the Board of Directors of a company such as ours are appointed by the General Meeting. Our Articles provide
that our Board has nomination rights with respect to the appointment of a new member of our Board. If a nomination consists of a list of two or more candidates, it is binding and the appointment to the vacant seat concerned shall be from the persons
placed on the binding list of candidates and shall be effected through election. Notwithstanding the foregoing, our General Meeting of Shareholders may, at all times, by a resolution passed with a two-thirds
majority of the votes cast representing more than half of our issued and outstanding capital, resolve that such list of candidates shall not be binding.

Delaware

The Delaware General Corporation Law provides that vacancies and newly created directorships may be filled by a majority of the directors then
in office (even though less than a quorum) unless (a) otherwise provided in the certificate of incorporation or by-laws of the corporation or (b) the certificate of incorporation directs that a
particular class of stock is to elect such director, in which case any other directors elected by such class, or a sole remaining director elected by such class, will fill such vacancy.

Shareholder proposals

The Netherlands

Pursuant to our Articles, extraordinary shareholders meetings will be held as often as our Board or our CEO deems necessary. In addition,
shareholders and/or persons with depository receipt holder rights representing in the aggregate at least one-tenth of the issued capital of the Company may request the Board to convene a general meeting,
specifically stating the business to be discussed. If our Board has not given proper notice of a general meeting within four weeks of receipt of such request such that the meeting can be held within six weeks of receipt of the request, the
applicants shall be authorized to convene a meeting themselves. Pursuant to Dutch law, one or more shareholders representing at least 10% of the issued share capital may request the Dutch Courts to order that a General Meeting be held.

The agenda for a meeting of shareholders must contain such items as our Board or the person or persons convening the meeting decide, including
the time and place of the shareholders meeting and the procedure for participating in the shareholders meeting by way of a written power of attorney. The agenda shall also include such other items as one or more shareholders,
representing at least such part of the issued share capital as required by the laws of The Netherlands (currently, 1% of the issued share capital or shares representing a value of 50.0 million) may request by providing a substantiated written
request or a proposal for a resolution to our Board at least 60 days before the date of the meeting.

Delaware

Delaware law does not specifically grant shareholders the right to bring business before an annual or special meeting.

Shareholder suits

The Netherlands

In the event that a third party is liable to a Dutch company, only the company itself can bring a civil action against that party. The
individual shareholders do not have the right to bring an action on behalf of the company. Only in the event that the cause for the liability of a third party to the company also constitutes a tortious act directly against a shareholder does that
shareholder have an individual right of action against such third party in its own name. The Dutch Civil Code provides for the possibility to initiate such actions collectively. A foundation or an association, the objective of which is to protect
the rights of a group of persons having similar interests can institute a collective action. The collective action itself cannot result in an order for payment of monetary damages but may only result in a declaratory judgment (verklaring voor
recht). In order to obtain compensation for damages, the foundation or association and the defendant may reach - often on the basis of such declaratory judgment - a settlement. A Dutch court may declare the settlement agreement binding upon all
the injured parties with an opt-out choice for an individual injured party. An individual injured party may also itself institute a civil claim for damages.



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Delaware

Under the Delaware General Corporation Law, a shareholder may bring a derivative action on behalf of the corporation to enforce the rights of
the corporation. An individual also may commence a class action suit on behalf of himself and other similarly situated shareholders where the requirements for maintaining a class action under Delaware law have been met. A person may institute and
maintain such a suit only if that person was a shareholder at the time of the transaction which is the subject of the suit. In addition, under Delaware case law, the plaintiff normally must be a shareholder not only at the time of the transaction
that is the subject of the suit, but also throughout the duration of the derivative suit. Delaware law also requires that the derivative plaintiff make a demand on the directors of the corporation to assert the corporate claim and such demand has
been refused before the suit may be prosecuted by the derivative plaintiff in court, unless such a demand would be futile.

Anti-takeover provisions

The Netherlands

Neither Dutch law nor our Articles specifically prevent business combinations with interested shareholders. Under Dutch law various protective
measures are as such possible and admissible, within the boundaries set by Dutch case law and Dutch law.

Delaware

In addition to other aspects of Delaware law governing fiduciary duties of directors during a potential takeover, the Delaware
General Corporation Law also contains a business combination statute that protects Delaware companies from hostile takeovers and from actions following the takeover by prohibiting some transactions once an acquirer has gained a significant holding
in the corporation.

Section 203 of the Delaware General Corporation Law prohibits business combinations, including
mergers, sales and leases of assets, issuances of securities and similar transactions by a corporation or a subsidiary with an interested shareholder that beneficially owns 15% or more of a corporations voting stock, within three years after
the person becomes an interested shareholder, unless:



| |  |  | the transaction that will cause the person to become an interested shareholder is approved by the Board of Directors of the target before the transactions;
| | - |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | after the completion of the transaction in which the person becomes an interested shareholder, the interested shareholder holds at least 85% of the voting stock of the corporation not including shares owned by persons
who are directors and also officers of interested shareholders and shares owned by specified employee benefit plans; or
| | - |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | after the person becomes an interested shareholder, the business combination is approved by the Board of Directors of the corporation and holders of at least 66.67% of the outstanding voting stock, excluding shares held
by the interested shareholder.
| | - |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

A Delaware corporation may elect not to be governed by Section 203 by a provision
contained in the original certificate of incorporation of the corporation or an amendment to the original certificate of incorporation or to the bylaws of the Company, which amendment must be approved by a majority of the shares entitled to vote and
may not be further amended by the Board of Directors of the corporation. Such an amendment is not effective until 12 months following its adoption.

Removal of directors

The Netherlands

Under Dutch law, the General Meeting has the authority to suspend or remove members of the Board of Directors at any time. Under our Articles,
a member of our Board may be suspended or removed by our General Meeting of Shareholders at any time by a resolution passed with a two-thirds majority of the votes cast representing more than half of the
issued and outstanding capital. If permitted under the laws of The Netherlands, a member of our Board may also be suspended by our Board itself. Any suspension may not last longer than three months in the aggregate. If, at the end of that period, no
decision has been taken on termination of the suspension, the suspension shall end. Currently, Dutch law does not allow directors to be suspended by the Board of Directors. It is, however, expected that Dutch law will be amended to facilitate the
suspension of directors by the Board of Directors.



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Delaware

Under the Delaware General Corporation Law, any director or the entire Board of Directors may be removed, with or without cause, by the holders
of a majority of the shares then entitled to vote at an election of directors, except (a) unless the certificate of incorporation provides otherwise, in the case of a corporation whose board is classified, shareholders may effect such removal
only for cause, or (b) in the case of a corporation having cumulative voting, if less than the entire board is to be removed, no director may be removed without cause if the votes cast against his removal would be sufficient to elect him if
then cumulatively voted at an election of the entire Board of Directors, or, if there are classes of directors, at an election of the class of directors of which he is a part.

Taxation

Certain U.S. Federal Income
Tax Considerations

This section describes certain material United States federal income tax consequences of owning our ordinary
shares. It applies to a U.S. Holder (as defined below) that holds our ordinary shares as capital assets for tax purposes. This section does not apply to a U.S. Holder that is a member of a special class of holders subject to special rules, such as:



| |  |  | a financial institution;
| | - |  | ------------------------



| |  |  | a dealer in securities;
| | - |  | -----------------------



| |  |  | a trader in securities that elects to use a mark-to-market method of accounting for its securities holdings;
| | - |  | ------------------------------------------------------------------------------------------------------------



| |  |  | a real estate investment trust;
| | - |  | -------------------------------



| |  |  | a regulated investment company;
| | - |  | -------------------------------



| |  |  | U.S. expatriates;
| | - |  | -----------------



| |  |  | persons who acquired shares pursuant to the exercise of any employee share option or otherwise as compensation;
| | - |  | ---------------------------------------------------------------------------------------------------------------



| |  |  | a tax-exempt organization;
| | - |  | --------------------------



| |  |  | an insurance company;
| | - |  | ---------------------



| |  |  | a person liable for alternative minimum tax;
| | - |  | --------------------------------------------



| |  |  | a person who actually or constructively owns 10% or more of our voting stock;
| | - |  | -----------------------------------------------------------------------------



| |  |  | a person who owns shares through a partnership or other pass-through entity;
| | - |  | ----------------------------------------------------------------------------



| |  |  | a person who holds shares as part of a straddle or a hedging or conversion transaction; or
| | - |  | ------------------------------------------------------------------------------------------



| |  |  | a person whose functional currency is not the U.S. dollar.
| | - |  | ----------------------------------------------------------

This section is based on the
Internal Revenue Code of 1986, as amended (the Code), its legislative history, existing and proposed regulations, published rulings and court decisions, all as currently in effect. These laws are subject to change, possibly on a
retroactive basis.

This section does not describe any tax consequences arising out of the tax laws of any state, local or non-U.S. jurisdiction, any estate or gift tax consequences or the Medicare tax on certain net investment income. If any entity or arrangement that is treated as a partnership for United States federal
income tax purposes is a beneficial owner of our ordinary shares, the treatment of a partner in the partnership will generally depend on the status of the partner and the activities of the partnership. Partners in such partnerships should consult
with their tax advisors.

For purposes of this discussion, a U.S. Holder is a beneficial owner of our ordinary shares that is for United
States federal income tax purposes:



| |  |  | a citizen or resident of the United States,
| | - |  | -------------------------------------------



| |  |  | a US domestic corporation (or other entity taxable as a U.S. domestic corporation for United States federal income tax purposes),
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------



| |  |  | an estate the income of which is subject to United States federal income tax regardless of its source, or
| | - |  | ---------------------------------------------------------------------------------------------------------



| |  |  | a trust, if a United States court can exercise primary supervision over the trusts administration and one or more United States persons are authorized to control all substantial decisions of the trust, or if the
trust has a valid election in effect to be treated as a United States person.
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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U.S. Holders should consult their own tax advisor regarding the United States federal, state
and local and other tax consequences of owning and disposing of our ordinary shares in their particular circumstances.

Taxation of Dividends

Under the United States federal income tax laws, and subject to the passive foreign investment company, or PFIC, rules discussed
below, U.S. Holders will include in gross income the gross amount of any dividend paid by us out of our current or accumulated earnings and profits (as determined for United States federal income tax purposes). The dividend is ordinary income that
the U.S. Holder must include in income when the dividend is actually or constructively received. The dividend will not be eligible for the dividends-received deduction generally allowed to United States corporations in respect of dividends received
from other United States corporations. The amount of a dividend distribution paid in euros includible in the income of a US Holder will be the US dollar value of the euro payment made, determined at the spot euro/US dollar rate on the date the
dividend distribution is includible in the income of the U.S. Holder, regardless of whether the payment is in fact converted into U.S. dollars. Generally, any gain or loss resulting from currency exchange fluctuations during the period from the date
the dividend payment is includible in income to the date such payment is converted into U.S. dollars will be treated as ordinary income or loss. Such gain or loss generally will be income or loss from sources within the United States for foreign tax
credit limitation purposes. Distributions in excess of current and accumulated earnings and profits, as determined for United States federal income tax purposes, will be treated as a non-taxable return of
capital to the extent of the U.S. Holders basis in the shares and thereafter as capital gain. We currently do not, and we do not intend to, calculate our earnings and profits under United States federal income tax principles. Therefore, a US
Holder should expect that a distribution will generally be reported as a dividend even if that distribution would otherwise be treated as a non-taxable return of capital or as capital gain under the rules
described above.

With respect to non-corporate taxpayers, dividends may be taxed at the lower
applicable capital gains rate provided that (1) either (a) our ordinary shares are readily tradable on an established securities market in the United States or (b) we are eligible for the benefits of the Convention between the
United States of America and the Kingdom of The Netherlands for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, (2) we are not a PFIC (as discussed below) for either our taxable year
in which the dividend was paid or the preceding taxable year, and (3) certain holding period requirements are met. Common stock is considered for purposes of clause (1) above to be readily tradable on an established securities market if it
is listed on the NYSE. U.S. Holders should consult their tax advisors regarding the availability of the lower rate for dividends paid with respect to our ordinary shares.

For foreign tax credit limitation purposes, the dividend will generally constitute foreign source income and will generally be passive
category income but could, in the case of certain U.S. Holders, constitute general category income. If the dividends are taxed as qualified dividend income (as discussed above), the amount of the dividend taken into account for
purposes of calculating the foreign tax credit limitation will in general be limited to the gross amount of the dividend, multiplied by the reduced tax rate applicable to qualified dividend income and divided by the highest tax rate normally
applicable to dividends.

If Dutch withholding taxes apply to any dividends paid to you with respect to our ordinary shares, the amount of
the dividend would include withheld Dutch taxes and, subject to certain conditions and limitations, such Dutch withholding taxes may be eligible for credit against your U.S.-federal income tax liability. The rules relating to the determination of
the foreign tax credit are complex, and you should consult your tax advisor regarding the availability of a foreign tax credit in your particular circumstances, including the effects of any applicable income tax treaties.

Taxation of Capital Gains

Subject to the PFIC rules discussed below, upon the sale or other disposition of our ordinary shares, a U.S. Holder will generally recognize
capital gain or loss for United States federal income tax purposes equal to the difference between the U.S. Holders amount realized and the U.S. Holders tax basis in such shares. If a U.S. Holder receives consideration for shares paid in
a currency other than U.S. dollars, the U.S. Holders amount realized will be the U.S. dollar value of the payment received. In general, the U.S. dollar value of such a payment will be determined on the date of sale or disposition. On the
settlement date, a U.S. Holder may recognize U.S. source foreign currency gain or loss (taxable as ordinary income or loss) equal to the difference (if any) between the U.S. dollar value of the amount received based on the exchange rates in effect
on the date of sale or other disposition and the settlement date. However, if our ordinary shares are treated as traded on an established securities market and the U.S. Holder is a cash basis taxpayer or an accrual basis taxpayer who has made a
special election, the U.S. dollar value of the amount realized in a foreign currency is determined by translating the amount received at the spot rate of exchange on the settlement date, and no exchange gain or loss would be recognized at that time.
Capital gain of a non-corporate U.S. Holder is generally taxed at a reduced rate where the property is held for more than one year. The gain or loss will generally be income or loss from sources within the
United States for foreign tax credit limitation purposes.



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PFIC Rules

We believe that our ordinary shares should not be treated as stock of a PFIC for United States federal income tax purposes for the taxable year
that ended on December 31, 2016. The application of the PFIC rules, however, is subject to uncertainty in several respects, and we cannot assure you that the United States Internal Revenue Service will not take a contrary position. In addition,
PFIC status is a factual determination which cannot be made until the close of the taxable year. Accordingly, there is no guarantee that we will not be a PFIC for any future taxable year. In addition, because the total value of our assets for
purposes of the asset test generally will be calculated using the market price of our ordinary shares, our PFIC status will depend in large part on the market price of our ordinary shares. Accordingly, fluctuations in the market price of our
ordinary shares could render us a PFIC for any year. A non-U.S. corporation is considered a PFIC for any taxable year if either:



| |  |  | at least 75% of its gross income is passive income, or
| | - |  | ------------------------------------------------------



| |  |  | at least 50% of the value of its assets (based on an average of the quarterly values of the assets during a taxable year) is attributable to assets that produce or are held for the production of passive income (the
asset test).
| | - |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

In the PFIC determination, we will be treated as owning our proportionate share of the assets and
earning our proportionate share of the income of any other corporation in which we own, directly or indirectly, 25% or more (by value) of the stock.

If we were to be treated as a PFIC for any year during a U.S. Holders holding period, unless the U.S. Holder elects to be taxed annually
on a mark-to-market basis with respect to the shares (which election may be made only if our ordinary shares are marketable stock within the meaning of
Section 1296 of the Code), the U.S. Holder will be subject to special tax rules with respect to any excess distribution received and any gain realized from a sale or other disposition (including a pledge) of that holders
shares. Distributions a U.S. Holder receives in a taxable year that are greater than 125% of the average annual distributions received during the shorter of the three preceding taxable years or the holders holding period for the shares will be
treated as excess distributions. Under these special tax rules:



| |  |  | the excess distribution or gain will be allocated ratably over the U.S. Holders holding period for the shares;
| | - |  | ---------------------------------------------------------------------------------------------------------------



| |  |  | the amount allocated to the current taxable year, and any taxable year before the first taxable year in which we are treated as a PFIC, will be treated as ordinary income; and
| | - |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | the amount allocated to each other year will be subject to tax at the highest tax rate in effect for that year and the interest charge generally applicable to underpayments of tax will be imposed on the resulting tax
attributable to each such year.
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The tax liability for amounts allocated to years before the year of disposition or
excess distribution cannot be offset by any net operating losses for such years, and gains (but not losses) realized on the sale of the shares cannot be treated as capital, even if the shares are held as capital assets. If we were to be
treated as a PFIC for any year during which a U.S. Holder holds the shares, we generally would continue to be treated as a PFIC with respect to that U.S. Holder for all succeeding years during which it owns our ordinary shares. If we were to cease
to be treated as a PFIC, however, a U.S. Holder may avoid some of the adverse effects of the PFIC regime by making a deemed sale election with respect to our ordinary shares.

If a U.S. Holder holds shares in any year in which we are a PFIC, that US Holder will generally be required by the Code to file an information
report with the Internal Revenue Service containing such information as the Internal Revenue Service may require.

Information
Reporting and Backup Withholding

Dividend payments with respect to our shares and proceeds from the sale, exchange or redemption
of our ordinary shares may be subject to information reporting to the United States Internal Revenue Service and possible United States backup withholding. Backup withholding will not apply, however, to a U.S. Holder that furnishes a correct
taxpayer identification number and makes any other required certification or that is otherwise exempt from backup withholding. U.S. Holders that are required to establish their exempt status generally must provide such certification on United States
Internal Revenue Service Form W-9. U.S. Holders should consult their tax advisors regarding the application of the U.S. information reporting and backup withholding rules.

Backup withholding is not an additional tax. Amounts withheld as backup withholding may be credited against your United States federal income
tax liability, and you may obtain a refund of any excess amounts withheld under the backup withholding rules by filing the appropriate claim for refund with the United States Internal Revenue Service and furnishing any required information in a
timely manner.



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Information with respect to Foreign Financial Assets

U.S. individuals that own specified foreign financial assets with an aggregate value in excess of certain threshold amounts are
generally required to file an information report with respect to such assets with their tax returns. Specified foreign financial assets include any financial accounts maintained by foreign financial institutions, as well as any of the
following, but only if they are not held in accounts maintained by certain financial institutions: (i) stocks and securities issued by non-U.S. persons, (ii) financial instruments and contracts held
for investment that have non-U.S. issuers or counterparties, and (iii) interests in foreign entities. Our shares may be subject to these rules. Under certain circumstances, an entity may be treated as an
individual for purposes of these rules. U.S. Holders that are individuals should consult their tax advisers regarding the application of this requirement to their ownership of our shares.

Certain Dutch Tax Considerations

Introduction

This
section summarizes the material Dutch tax consequences of the ownership and disposition of our ordinary shares as of the date hereof and is intended as general information only. It does not purport to be a comprehensive description of all Dutch tax
considerations that could be relevant for holders of the ordinary shares. This summary is intended as general information only. Each prospective holder should consult a professional tax advisor with respect to the tax consequences of an investment
in the ordinary shares. This summary is based on Dutch tax legislation and published case law in force as of the date of this annual report. It does not take into account any developments or amendments thereof after that date, whether or not such
developments or amendments have retroactive effect.

For the purpose of this section, The Netherlands shall mean the part of
the Kingdom of The Netherlands in Europe.

Scope

Regardless of whether or not a holder of ordinary shares is, or is treated as being, a resident of The Netherlands, this summary does not
address the Dutch tax consequences for such a holder:



| | (a) | having a substantial interest (aanmerkelijk belang) in our Company (such a substantial interest is generally present if an equity stake, profit stake of at least 5%, or a right to acquire such an equity/profit
stake, is held, in each case by reference to our Companys total issued share capital, or the issued capital of a certain class of shares);
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | who is a private individual and may be taxed for the purposes of Dutch income tax (inkomstenbelasting) as an entrepreneur (ondernemer) that has an enterprise (onderneming) to which the ordinary
shares are attributable, as one who earns income from miscellaneous activities (resultaat uit overige werkzaamheden), which include the performance of activities with respect to the ordinary shares that exceed regular, active portfolio
management (normaal, actief vermogensbeheer), or who may otherwise be taxed as one earning taxable income from work and home (werk en woning) with respect to benefits derived from the ordinary shares;
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | which is a corporate entity, and for the purposes of Dutch corporate income tax (vennootschapsbelasting) and Dutch dividend tax (dividendbelasting), has, or is deemed to have, a participation
(deelneming) in our Company (such a participation is generally present in the case of an interest of at least 5% of our Companys nominal paid-in capital); or
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (d) | which is a corporate entity and an exempt investment institution (vrijgestelde beleggingsinstelling) or investment institution (beleggingsinstelling) for the purposes of Dutch corporate income tax, a
pension fund, or otherwise not a taxpayer or exempt for tax purposes.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Dividend tax

Withholding requirement

We are required to withhold 15% Dutch dividend tax in respect of proceeds from the ordinary shares, which include, but is not limited to:



| | (a) | proceeds in cash or in kind, including deemed and constructive proceeds;
| | --- | ------------------------------------------------------------------------



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| | (b) | liquidation proceeds, proceeds on redemption of the ordinary shares and, as a rule, the consideration for the repurchase of ordinary shares by our Company in excess of its average
paid-in capital (gestort kapitaal) as recognized for Dutch dividend tax purposes, unless a particular statutory exemption applies;
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | the par value of the ordinary shares issued to a holder, or an increase in the par value of the ordinary shares, except when the (increase in the) par value of the ordinary shares is funded out of our paid-in capital as recognized for Dutch dividend tax purposes; and
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (d) | partial repayments of paid-in capital, if and to the extent there are qualifying profits (zuivere winst), unless the General Meeting of Shareholders has resolved in advance
to make such repayment and provided that the nominal value of the ordinary shares concerned has been reduced by an equal amount by way of an amendment of the Articles of Association and the capital concerned is recognized as paid-in capital for Dutch dividend tax purposes.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Resident holders

If a holder of ordinary shares is, or is treated as being, a resident of The Netherlands, Dutch dividend tax which is withheld with respect to
proceeds from the ordinary shares, will generally be creditable for Dutch corporate income tax or Dutch income tax purposes if the holder is the beneficial owner (uiteindelijk gerechtigde) of the proceeds concerned. A resident corporate
holder of ordinary shares may, under certain conditions, be entitled to an exemption from Dutch dividend withholding tax.

Non-resident holders

If a private individual holder of ordinary shares is, or is treated as being, a
resident of a country other than The Netherlands, such holder is generally not entitled to claim full or partial relief at source or a refund, in whole or in part, of Dutch dividend tax with respect to proceeds from the ordinary shares. A non-resident corporate holder of ordinary shares may, under certain conditions, be entitled to an exemption from, reduction or refund of Dutch dividend withholding tax under the provisions of a treaty for the
avoidance of double taxation between The Netherlands and its country of residence.

Income tax

Resident holders

A holder
who is a private individual and a resident, or treated as being a resident, of The Netherlands for the purposes of Dutch income tax and who does not have a substantial interest in our Company nor otherwise is taxed in relation to the ordinary shares
as one earning taxable income from work and home, must record the ordinary shares as assets that are held in box 3. Taxable income with regard to the ordinary shares is then determined on the basis of a deemed return on income from savings and
investments (sparen en beleggen), rather than on the basis of income actually received or gains actually realized. This deemed return is fixed at a rate of 4% of the holders yield basis (rendementsgrondslag) on January 1 of
each year, insofar as the yield basis concerned exceeds a certain threshold. Such yield basis is determined as the fair market value of certain qualifying assets held by the holder of the ordinary shares, less the fair market value of certain
qualifying liabilities. The fair market value of the ordinary shares will be included as an asset in the holders yield basis. The deemed return of 4% on the holders yield basis, being the fair market value of the ordinary shares, is
taxed at a rate of 30% (insofar as the yield basis concerned exceeds a certain threshold).

Non-resident holders

A holder who is a private individual and neither a resident, nor treated as being a resident of The Netherlands for the purposes of Dutch
income tax, will not be subject to such tax in respect of benefits derived from the ordinary shares.

Corporate income tax

Resident holders or holders having a Dutch permanent establishment

A holder, which is a corporate entity and for the purposes of Dutch corporate income tax a resident (or treated as being a resident) of The
Netherlands, or a non-resident having (or treated as having) a permanent establishment in The Netherlands, is generally taxed in respect of benefits derived from the ordinary shares at rates of up to 25%.



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Non-resident holders

A holder, which is a corporate entity and for the purposes of Dutch corporate income tax neither a resident, nor treated as being a resident,
of The Netherlands, having no permanent establishment in The Netherlands (and is not treated as having such a permanent establishment), will generally not be subject to such tax in respect of benefits derived from the ordinary shares.

Gift and inheritance tax

Resident holders

Dutch
gift tax or inheritance tax (schenk- of erfbelasting) will arise in respect of an acquisition (or deemed acquisition) of the ordinary shares by way of a gift by, or on the death of, a holder of ordinary shares who is a resident, or treated as
being a resident, of The Netherlands for the purposes of Dutch gift and inheritance tax. A holder is so treated as being a resident of The Netherlands, if one having Dutch nationality has been a resident of The Netherlands during the ten years
preceding the relevant gift or death. A holder is further so treated as being a resident of The Netherlands, if one has been a resident of The Netherlands at any time during the 12 months preceding the time of the relevant gift.

Non-resident holders

No Dutch gift tax or inheritance tax will arise in respect of an acquisition (or deemed acquisition) of the ordinary shares by way of a gift
by, or on the death of, a holder of ordinary shares who is neither a resident, nor treated as being a resident, of The Netherlands for the purposes of Dutch gift and inheritance tax.

Other taxes

No
Dutch turnover tax (omzetbelasting) will arise in respect of any payment in consideration for the issue of the ordinary shares, with respect to a distribution of proceeds from the ordinary shares or with respect to a transfer of ordinary
shares. In addition, no Dutch registration tax, capital tax, transfer tax or stamp duty (nor any other similar tax or duty) will be payable in connection with the issue or acquisition of the ordinary shares.

Documents on display

We are subject to
the information requirements of the Securities Exchange Act of 1934, applicable to foreign private issuers and, in accordance therewith, we file annual reports on Form 20-F within four months of our fiscal year-end and furnish other reports and information on Form 6-K with the Securities and Exchange Commission. These reports and other information can be inspected without charge
at the public reference room at the Securities and Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can also obtain copies of such material by mail from the public reference room of the Securities and Exchange Commission at
prescribed fees. You may obtain information on the operation of the Securities and Exchange public reference room by calling the Securities and Exchange Commission in the United States at 1-800-SEC-0330. The Securities and Exchange Commission also maintains a web site at www.sec.gov that contains reports, proxy statements and other information regarding
registrants that file electronically with the Securities and Exchange Commission.



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ITEM 11: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK

Interest Rate Risk

Under
our Revolving Facility, interest is based on a floating rate index. The interest expense on the remainder of our outstanding indebtedness is based on a fixed rate, except for our mortgages. Our mortgages are subject to a floating interest rate of
EURIBOR plus an individual margin ranging from 195 to 275 basis points. We have determined that the impact of a near-term 10% appreciation or depreciation of EURIBOR would not have a significant effect on our financial position, results of
operations, or cash flow. The interest rates on our mortgages secured by our PAR3 and PAR5 properties was fixed for approximately 75% of the principal outstanding amounts for a period of ten years.

As of December 31, 2016, the interest payable under the Revolving Facility on (i) any EUR amounts drawn would be at the rate of
EURIBOR plus 350 basis points per annum, (ii) any Danish kroner amounts drawn would be at the rate of CIBOR plus 350 basis points per annum, (iii) any Swedish kronor amounts drawn would be at the rate of STIBOR plus 350 basis points per
annum and (iv) other applicable currencies, including GBP, amounts drawn at the rate of LIBOR plus 350 basis points per annum. The Revolving Facility was undrawn as of December 31, 2016.

Foreign Exchange Rate Risk

Our reporting
currency for purposes of our financial statements is the euro. However, we also incur revenue and operating costs in non-euro denominated currencies, such as British pounds, Swiss francs, Danish kroner and
Swedish kronor. We recognize foreign currency gains or losses arising from our operations in the period incurred. As a result, currency fluctuations between the euro and the non-euro currencies in which we do
business will cause us to incur foreign currency translation gains and losses. We cannot predict the effects of exchange rate fluctuations upon our future operating results because of the number of currencies involved, the variability of currency
exposure and the potential volatility of currency exchange rates. We have determined that the impact of a near-term 10% appreciation or depreciation of non-euro denominated currencies relative to the euro
would not have a significant effect on our financial position, results of operations, or cash flows.

We do not maintain any derivative
instruments to mitigate the exposure to translation and transaction risk. Our foreign exchange transaction gains and losses are included in our results of operations and were not material for all periods presented. We do not currently engage in
foreign exchange hedging transactions to manage the risk of our foreign currency exposure.

Commodity Price Risk

We are a significant user of electricity and have exposure to increases in electricity prices. In recent years, we have seen significant
increases in electricity prices. We use independent consultants to monitor price changes in electricity and negotiate fixed-price term agreements with the power supply companies where possible.

Approximately 60% of our customers by revenue pay for electricity on a metered basis, while the remainder pay for power plugs.
While we are contractually able to recover energy cost increases from our customers, some portion of the increased costs may not be recovered. In addition, some portion of the increased costs may be recovered in a delayed fashion based on commercial
reasons at the discretion of local management.

See Note 21 of our 2016 consolidated financial statements for quantitative disclosure
about market risk.



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ITEM 12: DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

Not applicable.



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PART II

ITEM 13: DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES

Not applicable.



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ITEM 14: MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY
HOLDERS

AND USE OF PROCEEDS

Not applicable.



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ITEM 15: CONTROLS AND PROCEDURES

Conclusion Regarding the Effectiveness of Disclosure Controls and Procedures

Under the supervision and with the participation of the Chief Executive Officer (CEO) and Chief Financial Officer (CFO), the effectiveness of
the Companys disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934), has been evaluated as of
December 31, 2016. Based upon the evaluation, the CEO and CFO concluded that as of December 31, 2016, the Companys disclosure controls and procedures were effective and designed to provide reasonable assurance that the information
required to be disclosed by us in the reports that we file or submit under the Securities Exchange Act of 1934, is recorded, processed, summarized and reported within the time periods specified in the SECs rules and forms, and to ensure that
information required to be disclosed in the reports that we file or submit under the Securities Exchange Act of 1934 is accumulated and communicated to our management, including the CEO and CFO as appropriate, to allow timely decisions regarding
required disclosure.

Managements Report on Internal Control over Financial Reporting

Management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934), and for the assessment of the effectiveness of internal control over financial reporting. Internal control
over financial reporting includes maintaining records that, in reasonable detail, accurately and fairly reflect our transactions; providing reasonable assurance that transactions are recorded as necessary for preparation of our financial statements;
providing reasonable assurance that receipts and expenditure of Company assets are made in accordance with management authorization; and providing reasonable assurance that unauthorized acquisition, use or disposition of Company assets that could
have a material effect on our financial statements would be prevented or detected on a timely basis. The Companys internal control over financial reporting is a process designed to provide reasonable, but not absolute, assurance regarding the
reliability of financial reporting and the preparation of the consolidated financial statements in accordance with generally accepted accounting principles. Because of its inherent limitations, internal control over financial reporting is not
intended to provide absolute assurance that a misstatement of our financial statements would be prevented or detected.

In connection with
the preparation of the Companys annual consolidated financial statements, management has undertaken an assessment of the effectiveness of the Companys internal control over financial reporting as of December 31, 2016, based on
criteria established in the Internal-Control Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (the COSO Framework).

Based on this assessment, management concluded that the Companys internal control over financial reporting was effective as of
December 31, 2016.

Our consolidated financial statements have been audited by KPMG Accountants N.V., an independent registered
public accounting firm, which has issued an attestation report on the Companys internal control over financial reporting included elsewhere in this annual report on Form 20-F.

Changes in Controls and Procedures

Enhancements have been made during the period. There were no changes that occurred during the period covered by this report that have
materially affected, or are reasonably likely to materially affect, the Companys internal control over financial reporting.



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ITEM 16A: AUDIT COMMITTEE FINANCIAL EXPERT

The Board of Directors has determined that Rob Ruijter is the Audit Committee financial expert as defined by the SEC and meets the applicable
independence requirements of the SEC and the NYSE.



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ITEM 16B: CODE OF ETHICS

Our Board of Directors adopted a code of ethics on January 21, 2013, which applies to our principal executive officer, principal
financial officer, principal accounting officers, controllers and employees. The code is posted on our website at www.interxion.com.



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ITEM 16C: PRINCIPAL ACCOUNTANT FEES AND SERVICES

KPMG Accountants N.V. has served as the Companys principal accountant for the fiscal years ended December 31, 2016, 2015 and 2014.
The fees for audit and other services rendered by KPMG Accountants N.V. or other KPMG network for the fiscal years ended December 31, 2016, 2015 and 2014 are set out below.



|                   |  |                         |       |  |      |  |       |      |  |  |       | 
|------------------ |  | ----------------------- | ----- |  | ---- |  | ----- | ---- |  |  | ----- | 
|                   |  | Year ended December 31, |      
|                   |  | 2016                    |       |  | 2015 |  |       | 2014 | 
|                   |  | (000)                 |      
|Audit fees         |  |                         | 1,190 |  |      |  | 821   |      |  |  | 689   | 
|Audit-related fees |  |                         | 490   |  |      |  | 404   |      |  |  | 460   | 
|Tax fees           |  |                         |      |  |      |  | 21    |      |  |  | 3     | 
|All other fees     |  |                         | 16    |  |      |  | 77    |      |  |  | 58    | 
|                   |  |                         |       |  |      |  |       |      |  |  |       | 
|Total              |  |                         | 1,696 |  |      |  | 1,323 |      |  |  | 1,210 | 
|                   |  |                         |       |  |      |  |       |      |  |  |       | 

Audit fees include fees billed for audit services rendered for the Companys annual consolidated
financial statements filed with regulatory organizations. Audit-related fees relate to the review of quarterly financial reports and service organization control reports, such as SOC 2 and ISAE 3402 reports. Tax fees include fees billed for tax
compliance. All other fees consist of fees for all other services not included in any of the other categories noted above.

All the above
fees were pre-approved by the Audit Committee.

Audit Committees Policies and Procedures

In accordance with the Securities and Exchange Commission rules regarding auditor independence, the Audit Committee has established Policies
and Procedures for Audit and Non-Audit Services Provided by an Independent Auditor. The rules apply to the Company and its consolidated subsidiaries that engage any accounting firms for audit services and the
auditor who audits the accounts filed with the Securities and Exchange Commission, or the external auditor, for permissible non-audit services.

When engaging the external auditor for permissible non-audit services (audit-related services, tax
services, and all other services), pre-approval is obtained before the commencement of the services.



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ITEM 16D: EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT
COMMITTEES

Not applicable.



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ITEM 16E: PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND
AFFILIATED PURCHASERS

None.



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ITEM 16F: CHANGE IN REGISTRANTS CERTIFYING ACCOUNTANT

Not applicable.



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ITEM 16G: CORPORATE GOVERNANCE

Many of the corporate governance rules of the NYSE do not apply to the Company as a foreign private issuer. Rule 303A.11, however,
requires foreign private issuers to describe significant differences between their corporate governance standards and the corporate governance standards applicable to U.S. companies listed on the NYSE. While the Companys management believes
that its corporate governance practices are similar in many respects to those of U.S. NYSE-listed companies and provide investors with protections that are comparable in many respects to those established by the NYSE, there is one key difference
that is described below.

Internal Audit Function

Under Section 303A.07 of the NYSE rules, a domestic listed company must have an internal audit function. In 2016, a formal internal audit
function was not in place.



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ITEM 16H: MINE SAFETY DISCLOSURE

Not applicable.



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PART III

ITEM 17: FINANCIAL STATEMENTS

The Company has responded to Item 18 in lieu of responding to this item.



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ITEM 18: FINANCIAL STATEMENTS

Reference is made to pages F-1 through F-65, which are incorporated herein by reference.



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ITEM 19: EXHIBITS

The following instruments and documents are included as Exhibits to this annual report.



|              |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|------------- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|ExhibitNumber |  | Description of Document                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|              | 
|1.1          |  | Articles of Association of InterXion Holding N.V., as amended, dated as of January 20, 2012.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|              | 
|1.2          |  | Bylaws of InterXion Holding N.V. dated as of June 8, 2015.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|              | 
|2.1          |  | Indenture dated as of July 3, 2013 among InterXion Holding N.V., as Issuer, InterXion Belgium N.V., InterXion Danmark ApS, InterXion Carrier Hotel Limited, InterXion Datacenters B.V., InterXion Deutschland GmbH, Interxion
España S.A., InterXion France SAS, InterXion HeadQuarters B.V., InterXion Ireland Limited, InterXion Nederland B.V. and InterXion Operational B.V., as initial guarantors, The Bank of New York Mellon, London Branch, as trustee, principal
paying agent and transfer agent, The Bank of New York Mellon (Luxembourg) S.A., as registrar and Luxembourg paying agent and Barclays Bank PLC, as security trustee.
|              | 
|2.2☐          |  | Supplemental Indenture dated as of December 17, 2013 among InterXion Holding N.V., as Issuer, InterXion Sverige AB, as Guaranteeing Entity, InterXion Belgium N.V., InterXion Danmark ApS, InterXion Carrier Hotel Limited,
InterXion Datacenters B.V., InterXion Deutschland GmbH, InterXion España S.A., InterXion France SAS, InterXion HeadQuarters B.V., InterXion Ireland Limited, InterXion Nederland B.V. and InterXion Operational B.V., as guarantors and The Bank
of New York Mellon, London Branch, as trustee.                                                                                                                    
|              | 
|2.3☐          |  | Supplemental Indenture dated as of December 22, 2014 among InterXion Holding N.V., as Issuer, InterXion Österreich GmbH, as Guaranteeing Entity, and The Bank of New York Mellon, London Branch, as trustee.                                                                                                                                                                                                                                                                                                                                                                                                                                   
|              | 
|2.4          |  | The Intercreditor Agreement dated July 3, 2013, by and among, Interxion Holding N.V., Barclays Bank PLC, as revolving agent, The Bank of New York Mellon, London Branch, as original Senior Secured Notes trustee, the revolving
lenders named therein, the original debtors named therein, and Barclays Bank PLC as security trustee.                                                                                                                                                                                                                                                                                                         
|              | 
|2.5☐          |  | Amendment Letter to the Intercreditor Agreement dated December 17, 2013, by and among, Interxion Holding N.V., the original debtors and financial institutions as listed in the Intercreditor Agreement, The Bank of New York
Mellon, London Branch, as original Senior Secured Notes trustee and Barclays Bank PLC, as original hedge counterparty, revolving agent and security trustee.                                                                                                                                                                                                                                                     
|              | 
|4.1☐          |  | Senior Multicurrency Revolving Facility Agreement dated as of June 17, 2013 among Interxion Holding N.V., ABN AMRO Bank N.V., Barclays Bank PLC, Citigroup Global Markets Limited, Credit Suisse AG, London Branch and Bank of
America Securities Limited.                                                                                                                                                                                                                                                                                                                                                                                     
|              | 
|4.2          |  | Amendment Letter to the Senior Multicurrency Revolving Facility Agreement dated April 9, 2014, by and among, Interxion Holding N.V., and Barclays Bank PLC, as agent.                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|              | 
|4.3☐          |  | Amendment Letter to the Senior Multicurrency Revolving Facility Agreement dated July 17, 2014, by and among, Interxion Holding N.V., and Barclays Bank PLC, as agent.                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|              | 
|4.4☐          |  | Accession Letter to the Senior Multicurrency Revolving Facility Agreement dated December 17, 2013 among InterXion Holding N.V. and InterXion Sverige AB, as additional guarantor.                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|              | 
|4.5☐          |  | Accession Letter to the Senior Multicurrency Revolving Facility Agreement dated December 22, 2014 among InterXion Holding N.V. and InterXion Österreich GmbH, as additional guarantor.                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|              | 
|4.6          |  | Directors Remuneration Policy of InterXion Holding N.V. dated January 20, 2012.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|              | 
|4.7           |  | Management Agreement Managing Director InterXion Holding N.V. dated July 1, 2016.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|              | 
|4.8§          |  | InterXion Holding N.V. 2008 International Stock Option and Incentive Master Award Plan dated January 2008.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|              | 
|4.9§          |  | InterXion Holding N.V. 2011 International Stock Option and Incentive Master Award Plan dated May 31, 2011.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|              | 
|4.10         |  | InterXion Holding N.V. 2013 Amended International Equity Based Incentive Plan dated October 30, 2014.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|              | 
|4.11         |  | InterXion Holding N.V. 2013 Amended International Equity Based Incentive Plan dated March 17, 2014.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            



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|              |  |                                                                                                                                                                                                                                                    
|------------- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|ExhibitNumber |  | Description of Document                                                                                                                                                                                                                            
|              | 
|4.12☐         |  | Deed of Pledge of Shares among InterXion Holding N.V., InterXion Operational B.V. and Barclays Bank PLC dated July 2, 2013.                                                                                                                        
|              | 
|4.13         |  | Senior secured facility agreement dated April 14, 2014 by and among the Company, the guarantors thereunder, ABN AMRO Bank N.V. and Barclays Bank PLC, as lenders thereunder, Barclays Bank PLC, as agent and Barclays Bank PLC as
security trustee.
|              | 
|4.14*        |  | Lease Agreement between InterXion Holding B.V. and GiP Gewerbe im Park GmbH dated January 29, 1999 as amended by Supplement No. 15 to the Lease Agreement dated November 30, 2009.                                                                 
|              | 
|4.15*        |  | Lease Agreement between InterXion France Sarl and ICADE dated December 23, 2008.                                                                                                                                                                   
|              | 
|4.16*        |  | Lease Agreement between InterXion Nederland B.V. and VastNed Industrial B.V. dated November 4, 2005.                                                                                                                                               
|              | 
|4.17*        |  | Lease Agreement between InterXion Nederland B.V. and VA No. 1 (Point of Logistics) B.V. dated May 14, 2007.                                                                                                                                        
|              | 
|4.18*        |  | Lease Agreement between InterXion Carrier Hotel S.L. and Naves y Urbanas Andalucia S.A. dated March 20, 2000 as amended by the Annex to the Lease Agreement dated March 15, 2006.                                                                  
|              | 
|4.19*        |  | Lease Agreement among InterXion Holding N.V., InterXion Carrier Hotel Limited and Eliahou Zeloof, Amira Zeloof, Ofer Zeloof and Oren Zeloof dated February 23, 2000.                                                                               
|              | 
|4.20*        |  | Lease/Loan Agreement between Alpine Finanz Immobilien AG, InterXion (Schweiz) AG and InterXion Holding N.V. dated March 13, 2009.                                                                                                                  
|              | 
|4.21☐        |  | Lease Agreement among InterXion Holding N.V., InterXion Carrier Hotel Limited and Amira Zeloof, Ofer Zeloof and Oren Zeloof dated November 1, 2011.                                                                                                
|              | 
|4.22☐        |  | Lease Agreement among InterXion Holding N.V., InterXion France Sas and Corpet Louvet Sas dated January 3, 2011.                                                                                                                                    
|              | 
|4.23☐        |  | Lease Agreement among InterXion Holding N.V., InterXion España, S.A.U and Chainco Investments Company, S.L. dated October 10, 2011.                                                                                                                
|              | 
|4.24☐        |  | Lease Agreement among InterXion España, S.A.U. and Edificios Alsina Sur, S.A. dated February 27, 2012.                                                                                                                                             
|              | 
|4.25☐        |  | Lease Agreement between InterXion Holding B.V. and GiP Gewerbe im Park GmbH dated January 29, 1999 as amended by Supplement No. 17 to the Lease Agreement dated September 1, 2011.                                                                 
|              | 
|4.26        |  | Lease Agreement between InterXion Netherlands B.V. and ProLogis Netherlands VII SarL dated April 15, 2013.                                                                                                                                         
|              | 
|4.27        |  | Lease Agreement among InterXion España, S.A.U. and Edificios Alsina Sur, S.A. dated June 5, 2013.                                                                                                                                                  
|              | 
|4.28        |  | Lease Agreement between InterXion Deutschland GmbH and Union Investment Real Estate GmbH date August 2, 2013.                                                                                                                                      
|              | 
|12.1          |  | Certification of Chief Executive Officer.                                                                                                                                                                                                          
|              | 
|12.2          |  | Certification of Chief Financial Officer.                                                                                                                                                                                                          
|              | 
|13.1          |  | Certification of Chief Executive Officer.                                                                                                                                                                                                          
|              | 
|13.2          |  | Certification of Chief Financial Officer.                                                                                                                                                                                                          
|              | 
|15.1          |  | Consent of KPMG Accountants N.V.                                                                                                                                                                                                                   



Notes:

|* | Previously filed as an exhibit to the InterXion Holding N.V.s Registration Statement on Form F-1 (File No. 333-171662) filed
with the SEC and hereby incorporated by reference to such Registration Statement.
|- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Confidential treatment has been received for certain portions which are omitted in the copy of the exhibit filed with the SEC. The omitted information has been filed separately with the SEC pursuant to an application
for confidential treatment.
|- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | The omitted information has been filed separately with the SEC pursuant to an application for confidential treatment.
|-- | ---------------------------------------------------------------------------------------------------------------------

| | Previously filed as an exhibit on Form 6-K (File No. 001-35053) filed with the SEC and hereby incorporated by reference.
|- | ------------------------------------------------------------------------------------------------------------------------



110



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##### Table of Contents

|§ | Previously filed as an exhibit to the InterXion Holding N.V.s Registration Statement on Form S-8 (File No. 119-28329) filed with
the SEC and hereby incorporated by reference to such Registration Statement.
|- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|☐ | Previously filed as an exhibit on Form 20-F (File No. 001-35053) filed with the SEC and hereby incorporated by reference.
|- | -------------------------------------------------------------------------------------------------------------------------



111



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SIGNATURES

The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that
it has duly caused and authorized the undersigned to sign this annual report on its behalf.



| |  |                        |  |                        
| |  | ---------------------- |  | -----------------------
| |  | INTERXION HOLDING N.V.
| | 
| |  | /s/ David C. Ruberg   
| |  | Name:                  |  | David C. Ruberg        
| |  | Title:                 |  | Chief Executive Officer
| |  | Date:                  |  | March 30, 2017         



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INDEX TO FINANCIAL STATEMENTS

Audited financial statements of InterXion Holding N.V. as of and for the years ended December 31, 2016, 2015 and 2014



|                                                           |  |  |     | 
|---------------------------------------------------------- |  |  | --- | 
|Report of Independent Registered Public Accounting Firm    |  |  | F-2 | 
|Consolidated Income Statements                             |  |  | F-4 | 
|Consolidated Statements of Comprehensive Income            |  |  | F-4 | 
|Consolidated Statements of Financial Position              |  |  | F-5 | 
|Consolidated Statements of Changes in Shareholders
Equity |  |  | F-6 | 
|Consolidated Statements of Cash Flows                      |  |  | F-7 | 
|Notes to the 2016 Consolidated Financial Statements        |  |  | F-8 | 



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##### Table of Contents

Report of Independent Registered Public Accounting Firm

To: The Board of Directors and Shareholders of InterXion Holding N.V.

We have audited the accompanying consolidated statements of financial position of InterXion Holding N.V. and subsidiaries as of December 31, 2016, 2015,
and 2014, and the related consolidated income statements and consolidated statements of comprehensive income, changes in shareholders equity, and cash flows for each of the years in the three-year period ended December 31, 2016. We also
have audited InterXion Holding N.V.s internal control over financial reporting as of December 31, 2016, based on criteria established inInternal Control  Integrated Framework (2013) issued by the Committee of
Sponsoring Organizations of the Treadway Commission (COSO). InterXion Holding N.V.s management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its
assessment of the effectiveness of internal control over financial reporting, included in the accompanying Managements Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on these consolidated
financial statements and an opinion on InterXion Holding N.V.s internal control over financial reporting based on our audits.

We conducted our
audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of
material misstatement and whether effective internal control over financial reporting was maintained in all material respects. Our audits of the consolidated financial statements included examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our audit of internal control over financial reporting
included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk.
Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.

A companys internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A companys internal control over financial reporting includes those policies and procedures that
(1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditure of the company are being made only in accordance with authorizations of management and directors
of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the companys assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.



F-2



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##### Table of Contents

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects,
the financial position of InterXion Holding N.V. and subsidiaries as of December 31, 2016, 2015 and 2014, and the results of their operations and their cash flows for each of the years in the three-year period ended December 31, 2016, in
conformity with International Financial Reporting Standards as issued by the International Accounting Standards Board. Also in our opinion, InterXion Holding N.V. maintained, in all material respects, effective internal control over financial
reporting as of December 31, 2016, based on criteria established in Internal Control  Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

/s/ KPMG Accountants N.V.

Rotterdam, The Netherlands

March 30, 2017



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##### Table of Contents

CONSOLIDATED INCOME STATEMENTS



|                                                 |  |      |       |  |                         |  |          |      |  |  |          |   |  |  |          |  
|------------------------------------------------ |  | ---- | ----- |  | ----------------------- |  | -------- | ---- |  |  | -------- | - |  |  | -------- | -
|                                                 |  |      |       |  | Year Ended December 31, | 
|                                                 |  | Note |       |  | 2016                    |  |          | 2015 |  |  | 2014     |  
|                                                 |  |      |       |  | (000)                 | 
|Revenues                                         |  |      | 5,6   |  |                         |  | 421,788  |      |  |  | 386,560  |   |  |  | 340,624  |  
|Cost of sales                                    |  |      | 5,8   |  |                         |  | (162,568 | )    |  |  | (151,613 | ) |  |  | (139,075 | )
|                                                 |  |      |       |  |                         |  |          |      |  |  |          |   |  |  |          |  
|Gross profit                                     |  |      |       |  |                         |  | 259,220  |      |  |  | 234,947  |   |  |  | 201,549  |  
|Other income                                     |  |      | 5     |  |                         |  | 333      |      |  |  | 21,288   |   |  |  | 271      |  
|Sales and marketing costs                        |  |      | 5,8   |  |                         |  | (29,941  | )    |  |  | (28,217  | ) |  |  | (24,551  | )
|General and administrative costs                 |  |      | 5,7,8 |  |                         |  | (137,010 | )    |  |  | (132,505 | ) |  |  | (98,884  | )
|                                                 |  |      |       |  |                         |  |          |      |  |  |          |   |  |  |          |  
|Operating income                                 |  |      | 5     |  |                         |  | 92,602   |      |  |  | 95,513   |   |  |  | 78,385   |  
|Finance income                                   |  |      | 9     |  |                         |  | 1,206    |      |  |  | 3,294    |   |  |  | 890      |  
|Finance expense                                  |  |      | 9     |  |                         |  | (37,475  | )    |  |  | (32,316  | ) |  |  | (28,766  | )
|                                                 |  |      |       |  |                         |  |          |      |  |  |          |   |  |  |          |  
|Profit before tax                                |  |      |       |  |                         |  | 56,333   |      |  |  | 66,491   |   |  |  | 50,509   |  
|Income tax expense                               |  |      | 10    |  |                         |  | (16,450  | )    |  |  | (17,925  | ) |  |  | (15,449  | )
|                                                 |  |      |       |  |                         |  |          |      |  |  |          |   |  |  |          |  
|Net income                                       |  |      |       |  |                         |  | 39,883   |      |  |  | 48,566   |   |  |  | 35,060   |  
|                                                 |  |      |       |  |                         |  |          |      |  |  |          |   |  |  |          |  
|Earnings per share attributable to shareholders: |  |      |       |  |                         |  |          |      |  |  |          |   |  |  |          |  
|Basic earnings per share: ()                    |  |      | 17    |  |                         |  | 0.57     |      |  |  | 0.70     |   |  |  | 0.51     |  
|Diluted earnings per share: ()                  |  |      | 17    |  |                         |  | 0.56     |      |  |  | 0.69     |   |  |  | 0.50     |  

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME



|                                                                              |  |                                 |         |   |      |  |        |      |  |  |        |  
|----------------------------------------------------------------------------- |  | ------------------------------- | ------- | - | ---- |  | ------ | ---- |  |  | ------ | -
|                                                                              |  | For the year ended December 31, |        
|                                                                              |  | 2016                            |         |   | 2015 |  |        | 2014 | 
|                                                                              |  | (000)                         |        
|Net income                                                                    |  |                                 | 39,883  |   |      |  | 48,566 |      |  |  | 35,060 |  
|Other comprehensive income                                                    |  |                                 |         |   |      |  |        |      |  |  |        |  
|Items that are, or may be, reclassified subsequently to profit or loss        |  |                                 |         |   |      |  |        |      |  |  |        |  
|Foreign currency translation differences                                      |  |                                 | (12,713 | ) |      |  | 11,633 |      |  |  | 4,201  |  
|Effective portion of changes in fair value of cash flow hedge                 |  |                                 | (45     | ) |      |  | 50     |      |  |  | (458   | )
|Tax on items that are, or may be, reclassified subsequently to profit or loss |  |                                 |         |   |      |  |        |      |  |  |        |  
|Foreign currency translation differences                                      |  |                                 | 1,836   |   |      |  | (1,208 | )    |  |  | (518   | )
|Effective portion of changes in fair value of cash flow hedge                 |  |                                 | 15      |   |      |  | (16    | )    |  |  | 151    |  
|                                                                              |  |                                 |         |   |      |  |        |      |  |  |        |  
|Other comprehensive income/(loss), net of tax                                 |  |                                 | (10,907 | ) |      |  | 10,459 |      |  |  | 3,376  |  
|                                                                              |  |                                 |         |   |      |  |        |      |  |  |        |  
|Total comprehensive income attributable to shareholders                       |  |                                 | 28,976  |   |      |  | 59,025 |      |  |  | 38,436 |  
|                                                                              |  |                                 |         |   |      |  |        |      |  |  |        |  



Note:
The accompanying notes form an integral part of these consolidated financial statements.



F-4



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##### Table of Contents

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION



|                                           |  |      |    |  |                    |  |           |      |  |  |           |   |  |  |           |  
|------------------------------------------ |  | ---- | -- |  | ------------------ |  | --------- | ---- |  |  | --------- | - |  |  | --------- | -
|                                           |  |      |    |  | As at December 31, | 
|                                           |  | Note |    |  | 2016               |  |           | 2015 |  |  | 2014      |  
|                                           |  |      |    |  | (000)            | 
|Non-current assets                         |  |      |    |  |                    |  |           |      |  |  |           |   |  |  |           |  
|Property, plant and equipment              |  |      | 11 |  |                    |  | 1,156,031 |      |  |  | 999,072   |   |  |  | 895,184   |  
|Intangible assets                          |  |      | 12 |  |                    |  | 28,694    |      |  |  | 23,194    |   |  |  | 18,996    |  
|Deferred tax assets                        |  |      | 10 |  |                    |  | 20,370    |      |  |  | 23,024    |   |  |  | 30,064    |  
|Other investments                          |  |      | 13 |  |                    |  | 1,942     |      |  |  |          |   |  |  | 774       |  
|Other non-current assets*                  |  |      | 14 |  |                    |  | 11,914    |      |  |  | 11,152    |   |  |  | 10,634    |  
|                                           |  |      |    |  |                    |  |           |      |  |  |           |   |  |  |           |  
|                                           |  |      |    |  |                    |  | 1,218,951 |      |  |  | 1,056,442 |   |  |  | 955,652   |  
|Current assets                             |  |      |    |  |                    |  |           |      |  |  |           |   |  |  |           |  
|Trade and other current assets*            |  |      | 14 |  |                    |  | 147,821   |      |  |  | 141,936   |   |  |  | 121,164   |  
|Short term investments                     |  |      | 15 |  |                    |  |          |      |  |  |          |   |  |  | 1,650     |  
|Cash and cash equivalents*                 |  |      | 15 |  |                    |  | 115,893   |      |  |  | 53,686    |   |  |  | 94,637    |  
|                                           |  |      |    |  |                    |  |           |      |  |  |           |   |  |  |           |  
|                                           |  |      |    |  |                    |  | 263,714   |      |  |  | 195,622   |   |  |  | 217,451   |  
|                                           |  |      |    |  |                    |  |           |      |  |  |           |   |  |  |           |  
|Total assets                               |  |      |    |  |                    |  | 1,482,665 |      |  |  | 1,252,064 |   |  |  | 1,173,103 |  
|                                           |  |      |    |  |                    |  |           |      |  |  |           |   |  |  |           |  
|Shareholders equity                       |  |      |    |  |                    |  |           |      |  |  |           |   |  |  |           |  
|Share capital                              |  |      | 16 |  |                    |  | 7,060     |      |  |  | 6,992     |   |  |  | 6,932     |  
|Share premium                              |  |      | 16 |  |                    |  | 519,604   |      |  |  | 507,296   |   |  |  | 495,109   |  
|Foreign currency translation reserve       |  |      | 16 |  |                    |  | 9,988     |      |  |  | 20,865    |   |  |  | 10,440    |  
|Hedging reserve, net of tax                |  |      | 16 |  |                    |  | (243      | )    |  |  | (213      | ) |  |  | (247      | )
|Accumulated profit / (deficit)             |  |      | 16 |  |                    |  | 12,360    |      |  |  | (27,523   | ) |  |  | (76,089   | )
|                                           |  |      |    |  |                    |  |           |      |  |  |           |   |  |  |           |  
|                                           |  |      |    |  |                    |  | 548,769   |      |  |  | 507,417   |   |  |  | 436,145   |  
|Non-current liabilities                    |  |      |    |  |                    |  |           |      |  |  |           |   |  |  |           |  
|Other non-current liabilities              |  |      | 18 |  |                    |  | 11,718    |      |  |  | 12,049    |   |  |  | 12,211    |  
|Deferred tax liability                     |  |      | 10 |  |                    |  | 9,628     |      |  |  | 9,951     |   |  |  | 7,029     |  
|Provision for onerous lease contracts      |  |      | 19 |  |                    |  |          |      |  |  |          |   |  |  | 1,491     |  
|Borrowings                                 |  |      | 20 |  |                    |  | 723,975   |      |  |  | 550,812   |   |  |  | 540,530   |  
|                                           |  |      |    |  |                    |  |           |      |  |  |           |   |  |  |           |  
|                                           |  |      |    |  |                    |  | 745,321   |      |  |  | 572,812   |   |  |  | 561,261   |  
|Current liabilities                        |  |      |    |  |                    |  |           |      |  |  |           |   |  |  |           |  
|Trade payables and other liabilities       |  |      | 18 |  |                    |  | 171,399   |      |  |  | 162,629   |   |  |  | 146,502   |  
|Income tax liabilities                     |  |      |    |  |                    |  | 5,694     |      |  |  | 2,738     |   |  |  | 4,690     |  
|Provision for onerous lease contracts      |  |      | 19 |  |                    |  |          |      |  |  | 1,517     |   |  |  | 3,443     |  
|Borrowings                                 |  |      | 20 |  |                    |  | 11,482    |      |  |  | 4,951     |   |  |  | 21,062    |  
|                                           |  |      |    |  |                    |  |           |      |  |  |           |   |  |  |           |  
|                                           |  |      |    |  |                    |  | 188,575   |      |  |  | 171,835   |   |  |  | 175,697   |  
|                                           |  |      |    |  |                    |  |           |      |  |  |           |   |  |  |           |  
|Total liabilities                          |  |      |    |  |                    |  | 933,896   |      |  |  | 744,647   |   |  |  | 736,958   |  
|                                           |  |      |    |  |                    |  |           |      |  |  |           |   |  |  |           |  
|Total liabilities and shareholders equity |  |      |    |  |                    |  | 1,482,665 |      |  |  | 1,252,064 |   |  |  | 1,173,103 |  
|                                           |  |      |    |  |                    |  |           |      |  |  |           |   |  |  |           |  

Note:The accompanying notes form an integral part of these consolidated financial statements.



|* | During 2016, the collaterized cash has been reclassified from Cash and cash equivalents to Other current assets and Other non-current assets.
Comparative figures have been adjusted accordingly. Refer to note 14.
|- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



F-5



---

##### Table of Contents

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY



|                                                                   |  |      |    |  |              |  |       |              |  |  |                                   |   |  |                |         |   |                             |  |      |             |  |  |          |   |  |  |         |  
|------------------------------------------------------------------ |  | ---- | -- |  | ------------ |  | ----- | ------------ |  |  | --------------------------------- | - |  | -------------- | ------- | - | --------------------------- |  | ---- | ----------- |  |  | -------- | - |  |  | ------- | -
|                                                                   |  | Note |    |  | Sharecapital |  |       | Sharepremium |  |  | Foreigncurrencytranslationreserve |   |  | HedgingReserve |         |   | Accumulatedprofit/(deficit) |  |      | Totalequity | 
|                                                                   |  |      |    |  | (000)      | 
|Balance at January 1, 2016                                         |  |      |    |  |              |  | 6,992 |              |  |  | 507,296                           |   |  |                | 20,865  |   |                             |  | (213 | )           |  |  | (27,523  | ) |  |  | 507,417 |  
|Net income                                                         |  |      |    |  |              |  |      |              |  |  |                                  |   |  |                |        |   |                             |  |     |             |  |  | 39,883   |   |  |  | 39,883  |  
|Hedging result, net of tax                                         |  |      |    |  |              |  |      |              |  |  |                                  |   |  |                |        |   |                             |  | (30  | )           |  |  |         |   |  |  | (30     | )
|Other comprehensive income/(loss), net of tax                      |  |      |    |  |              |  |      |              |  |  |                                  |   |  |                | (10,877 | ) |                             |  |     |             |  |  |         |   |  |  | (10,877 | )
|Total comprehensive income/(loss)                                  |  |      |    |  |              |  |      |              |  |  |                                  |   |  |                | (10,877 | ) |                             |  | (30  | )           |  |  | 39,883   |   |  |  | 28,976  |  
|Exercise of options                                                |  |      |    |  |              |  | 48    |              |  |  | 6,284                             |   |  |                |        |   |                             |  |     |             |  |  |         |   |  |  | 6,332   |  
|Issuance of performance shares and restricted shares               |  |      |    |  |              |  | 20    |              |  |  | (20                               | ) |  |                |        |   |                             |  |     |             |  |  |         |   |  |  |        |  
|Share-based payments                                               |  |      | 22 |  |              |  |      |              |  |  | 6,044                             |   |  |                |        |   |                             |  |     |             |  |  |         |   |  |  | 6,044   |  
|Total contribution by, and distributions to, owners of the
Company |  |      |    |  |              |  | 68    |              |  |  | 12,308                            |   |  |                |        |   |                             |  |     |             |  |  |         |   |  |  | 12,376  |  
|                                                                   |  |      |    |  |              |  |       |              |  |  |                                   |   |  |                |         |   |                             |  |      |             |  |  |          |   |  |  |         |  
|Balance at December 31, 2016                                       |  |      |    |  |              |  | 7,060 |              |  |  | 519,604                           |   |  |                | 9,988   |   |                             |  | (243 | )           |  |  | 12,360   |   |  |  | 548,769 |  
|                                                                   |  |      |    |  |              |  |       |              |  |  |                                   |   |  |                |         |   |                             |  |      |             |  |  |          |   |  |  |         |  
|Balance at January 1, 2015                                         |  |      |    |  |              |  | 6,932 |              |  |  | 495,109                           |   |  |                | 10,440  |   |                             |  | (247 | )           |  |  | (76,089  | ) |  |  | 436,145 |  
|Net income                                                         |  |      |    |  |              |  |      |              |  |  |                                  |   |  |                |        |   |                             |  |     |             |  |  | 48,566   |   |  |  | 48,566  |  
|Hedging result, net of tax                                         |  |      |    |  |              |  |      |              |  |  |                                  |   |  |                |        |   |                             |  | 34   |             |  |  |         |   |  |  | 34      |  
|Other comprehensive income/(loss), net of tax                      |  |      |    |  |              |  |      |              |  |  |                                  |   |  |                | 10,425  |   |                             |  |     |             |  |  |         |   |  |  | 10,425  |  
|Total comprehensive income/(loss)                                  |  |      |    |  |              |  |      |              |  |  |                                  |   |  |                | 10,425  |   |                             |  | 34   |             |  |  | 48,566   |   |  |  | 59,025  |  
|Exercise of options                                                |  |      |    |  |              |  | 43    |              |  |  | 5,686                             |   |  |                |        |   |                             |  |     |             |  |  |         |   |  |  | 5,729   |  
|Issuance of performance shares                                     |  |      |    |  |              |  | 17    |              |  |  | (17                               | ) |  |                |        |   |                             |  |     |             |  |  |         |   |  |  |        |  
|Share-based payments                                               |  |      | 22 |  |              |  |      |              |  |  | 6,518                             |   |  |                |        |   |                             |  |     |             |  |  |         |   |  |  | 6,518   |  
|Total contribution by, and distributions to, owners of the Company |  |      |    |  |              |  | 60    |              |  |  | 12,187                            |   |  |                |        |   |                             |  |     |             |  |  |         |   |  |  | 12,247  |  
|                                                                   |  |      |    |  |              |  |       |              |  |  |                                   |   |  |                |         |   |                             |  |      |             |  |  |          |   |  |  |         |  
|Balance at December 31, 2015                                       |  |      |    |  |              |  | 6,992 |              |  |  | 507,296                           |   |  |                | 20,865  |   |                             |  | (213 | )           |  |  | (27,523  | ) |  |  | 507,417 |  
|                                                                   |  |      |    |  |              |  |       |              |  |  |                                   |   |  |                |         |   |                             |  |      |             |  |  |          |   |  |  |         |  
|Balance at January 1, 2014                                         |  |      |    |  |              |  | 6,887 |              |  |  | 485,347                           |   |  |                | 6,757   |   |                             |  | 60   |             |  |  | (111,149 | ) |  |  | 387,902 |  
|Net income                                                         |  |      |    |  |              |  |      |              |  |  |                                  |   |  |                |        |   |                             |  |     |             |  |  | 35,060   |   |  |  | 35,060  |  
|Hedging result, net of tax                                         |  |      |    |  |              |  |      |              |  |  |                                  |   |  |                |        |   |                             |  | (307 | )           |  |  |         |   |  |  | (307    | )
|Other comprehensive income/(loss), net of tax                      |  |      |    |  |              |  |      |              |  |  |                                  |   |  |                | 3,683   |   |                             |  |     |             |  |  |         |   |  |  | 3,683   |  
|Total comprehensive income/(loss)                                  |  |      |    |  |              |  |      |              |  |  |                                  |   |  |                | 3,683   |   |                             |  | (307 | )           |  |  | 35,060   |   |  |  | 38,436  |  
|Exercise of options                                                |  |      |    |  |              |  | 45    |              |  |  | 3,278                             |   |  |                |        |   |                             |  |     |             |  |  |         |   |  |  | 3,323   |  
|Share-based payments                                               |  |      | 22 |  |              |  |      |              |  |  | 6,484                             |   |  |                |        |   |                             |  |     |             |  |  |         |   |  |  | 6,484   |  
|Total contribution by, and distributions to, owners of the Company |  |      |    |  |              |  | 45    |              |  |  | 9,762                             |   |  |                |        |   |                             |  |     |             |  |  |         |   |  |  | 9,807   |  
|                                                                   |  |      |    |  |              |  |       |              |  |  |                                   |   |  |                |         |   |                             |  |      |             |  |  |          |   |  |  |         |  
|Balance at December 31, 2014                                       |  |      |    |  |              |  | 6,932 |              |  |  | 495,109                           |   |  |                | 10,440  |   |                             |  | (247 | )           |  |  | (76,089  | ) |  |  | 436,145 |  
|                                                                   |  |      |    |  |              |  |       |              |  |  |                                   |   |  |                |         |   |                             |  |      |             |  |  |          |   |  |  |         |  

Since no minority shareholders in Group equity exist, the Group equity is entirely attributable to the parents
shareholders.





Note:The accompanying notes form an integral part of these consolidated financial statements.



F-6



---

##### Table of Contents

CONSOLIDATED STATEMENTS OF CASH FLOWS



|                                                                           |  |      |       |  |                                  |  |          |      |  |  |          |   |  |  |          |  
|-------------------------------------------------------------------------- |  | ---- | ----- |  | -------------------------------- |  | -------- | ---- |  |  | -------- | - |  |  | -------- | -
|                                                                           |  |      |       |  | For the years ended December 31, | 
|                                                                           |  | Note |       |  | 2016                             |  |          | 2015 |  |  | 2014     |  
|                                                                           |  |      |       |  | (000)                          | 
|Net income                                                                 |  |      |       |  |                                  |  | 39,883   |      |  |  | 48,566   |   |  |  | 35,060   |  
|Depreciation, amortization and impairments                                 |  |      | 11,12 |  |                                  |  | 89,835   |      |  |  | 78,229   |   |  |  | 62,177   |  
|Provision for onerous lease contracts                                      |  |      | 19    |  |                                  |  | (1,533   | )    |  |  | (3,532   | ) |  |  | (4,172   | )
|Share-based payments                                                       |  |      | 22    |  |                                  |  | 6,105    |      |  |  | 6,518    |   |  |  | 6,576    |  
|Net finance expense                                                        |  |      | 9     |  |                                  |  | 36,269   |      |  |  | 29,022   |   |  |  | 27,876   |  
|Income tax expense                                                         |  |      | 10    |  |                                  |  | 16,450   |      |  |  | 17,925   |   |  |  | 15,449   |  
|                                                                           |  |      |       |  |                                  |  |          |      |  |  |          |   |  |  |          |  
|                                                                           |  |      |       |  |                                  |  | 187,009  |      |  |  | 176,728  |   |  |  | 142,966  |  
|                                                                           |  |      |       |  |                                  |  |          |      |  |  |          |   |  |  |          |  
|Movements in trade receivables and other assets                            |  |      |       |  |                                  |  | (11,126  | )    |  |  | (19,380  | ) |  |  | (24,026  | )
|Movements in trade payables and other liabilities                          |  |      |       |  |                                  |  | 7,505    |      |  |  | 12,040   |   |  |  | 16,478   |  
|                                                                           |  |      |       |  |                                  |  |          |      |  |  |          |   |  |  |          |  
|Cash generated from operations                                             |  |      |       |  |                                  |  | 183,388  |      |  |  | 169,388  |   |  |  | 135,418  |  
|                                                                           |  |      |       |  |                                  |  |          |      |  |  |          |   |  |  |          |  
|Interest and fees paid                                                     |  |      |       |  |                                  |  | (36,003  | )    |  |  | (30,522  | ) |  |  | (25,166  | )
|Interest received                                                          |  |      |       |  |                                  |  | 136      |      |  |  | 152      |   |  |  | 471      |  
|Income tax paid                                                            |  |      |       |  |                                  |  | (8,124   | )    |  |  | (11,948  | ) |  |  | (6,305   | )
|                                                                           |  |      |       |  |                                  |  |          |      |  |  |          |   |  |  |          |  
|Net cash flow from operating activities                                    |  |      |       |  |                                  |  | 139,397  |      |  |  | 127,070  |   |  |  | 104,418  |  
|                                                                           |  |      |       |  |                                  |  |          |      |  |  |          |   |  |  |          |  
|Cash flows from investing activities                                       |  |      |       |  |                                  |  |          |      |  |  |          |   |  |  |          |  
|Purchase of property, plant and equipment                                  |  |      |       |  |                                  |  | (241,958 | )    |  |  | (186,115 | ) |  |  | (212,938 | )
|Financial investments - deposits*                                          |  |      |       |  |                                  |  | 1,139    |      |  |  | 418      |   |  |  | (1,208   | )
|Purchase of intangible assets                                              |  |      |       |  |                                  |  | (8,920   | )    |  |  | (6,521   | ) |  |  | (3,339   | )
|Loans to third parties                                                     |  |      |       |  |                                  |  | (1,942   | )    |  |  |         |   |  |  |         |  
|Proceeds from sale of financial asset                                      |  |      |       |  |                                  |  | 281      |      |  |  | 3,063    |   |  |  |         |  
|Acquisition of short-term investments                                      |  |      | 15    |  |                                  |  |         |      |  |  |         |   |  |  | (1,650   | )
|Redemption of short-term investments                                       |  |      | 15    |  |                                  |  |         |      |  |  | 1,650    |   |  |  |         |  
|                                                                           |  |      |       |  |                                  |  |          |      |  |  |          |   |  |  |          |  
|Net cash flow used in investing activities                                 |  |      |       |  |                                  |  | (251,400 | )    |  |  | (187,505 | ) |  |  | (219,135 | )
|                                                                           |  |      |       |  |                                  |  |          |      |  |  |          |   |  |  |          |  
|Cash flows from financing activities                                       |  |      |       |  |                                  |  |          |      |  |  |          |   |  |  |          |  
|Proceeds from exercised options                                            |  |      |       |  |                                  |  | 6,332    |      |  |  | 5,686    |   |  |  | 3,324    |  
|Proceeds from mortgages                                                    |  |      |       |  |                                  |  | 14,625   |      |  |  | 14,850   |   |  |  | 9,185    |  
|Repayment of mortgages                                                     |  |      |       |  |                                  |  | (4,031   | )    |  |  | (2,346   | ) |  |  | (2,041   | )
|Proceeds from revolving facility                                           |  |      |       |  |                                  |  |         |      |  |  |         |   |  |  | 30,000   |  
|Repayment of revolving facility                                            |  |      |       |  |                                  |  |         |      |  |  |         |   |  |  | (30,000  | )
|Proceeds 6% Senior Secured Notes due 2020                                  |  |      |       |  |                                  |  | 154,808  |      |  |  |         |   |  |  | 157,878  |  
|Interest received at issuance of Additional Notes                          |  |      |       |  |                                  |  | 2,225    |      |  |  |         |   |  |  | 2,600    |  
|Interest paid related to interest received at issuance of Additional Notes |  |      |       |  |                                  |  |         |      |  |  |         |   |  |  | (2,600   | )
|Transaction costs related to senior secured facility                       |  |      |       |  |                                  |  |         |      |  |  |         |   |  |  | (646     | )
|Repayment of other borrowings                                              |  |      |       |  |                                  |  |         |      |  |  |         |   |  |  | (72      | )
|                                                                           |  |      |       |  |                                  |  |          |      |  |  |          |   |  |  |          |  
|Net cash flows from / (used in) financing activities                       |  |      |       |  |                                  |  | 173,959  |      |  |  | 18,190   |   |  |  | 167,628  |  
|Effect of exchange rate changes on cash                                    |  |      |       |  |                                  |  | 251      |      |  |  | 1,294    |   |  |  | 114      |  
|                                                                           |  |      |       |  |                                  |  |          |      |  |  |          |   |  |  |          |  
|Net movement in cash and cash equivalents                                  |  |      |       |  |                                  |  | 62,207   |      |  |  | (40,951  | ) |  |  | 53,025   |  
|Cash and cash equivalents, beginning of period                             |  |      |       |  |                                  |  | 53,686   |      |  |  | 94,637   |   |  |  | 41,612   |  
|                                                                           |  |      |       |  |                                  |  |          |      |  |  |          |   |  |  |          |  
|Cash and cash equivalents, end of period                                   |  |      | 15    |  |                                  |  | 115,893  |      |  |  | 53,686   |   |  |  | 94,637   |  
|                                                                           |  |      |       |  |                                  |  |          |      |  |  |          |   |  |  |          |  



Note:The accompanying notes form an integral part of these consolidated financial statements.



|* | During 2016, the collaterized cash has been reclassified from Cash and cash equivalents to Other current assets and Other non-current assets.
The impact on the consolidated statement of cash flows has been presented in investing cash flows. Comparative figures have been adjusted accordingly. Refer to note 14.
|- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



F-7



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##### Table of Contents

NOTES TO THE 2016 CONSOLIDATED FINANCIAL STATEMENTS



|1 | The Company
|- | -----------

Interxion Holding N.V. (the Company) is domiciled in The
Netherlands. The Companys registered office is at Tupolevlaan 24, 1119 NX Schiphol-Rijk, The Netherlands. The consolidated financial statements of the Company for the year ended December 31, 2016 comprise the Company and its subsidiaries
(together referred to as the Group). The Group is a leading pan-European operator of carrier-neutral Internet data centers.

The financial statements, which were approved and authorized for issue by the Board of Directors on March 30, 2017, are subject to
adoption by the General Meeting of Shareholders.



|2 | Basis of preparation
|- | --------------------

Statement of compliance

The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS),
effective as at December 31, 2016, as issued by the International Accounting Standards Board (IASB), and IFRS as adopted by the European Union, and also comply with the financial reporting requirements included in Part 9 of Book 2
of The Netherlands Civil Code.

Basis of measurement

The Group prepared its consolidated financial statements on a going-concern basis and under the historical cost convention except for certain
financial instruments that have been measured at fair value.

IFRS basis of presentation

The audited consolidated financial statements as of December 31, 2016, 2015 and 2014 have been prepared in accordance with International
Financial Reporting Standards (IFRS) as endorsed by the European Union (EU). All standards and interpretations issued by the International Accounting Standards Board (IASB) and the IFRS Interpretations Committee effective year-end 2016 have been endorsed by the EU, except that the EU did not adopt certain paragraphs of IAS 39 applicable to hedge transactions. The Group has no hedge transactions to which these paragraphs are
applicable. Consequently, the accounting policies applied by the Group also comply with IFRS as issued by the IASB.

Change in accounting policies

The Group has consistently applied the accounting policies set out below to all periods presented in these consolidated financial
statements. The standards below are applicable for financial statements as prepared after January 1, 2015, for IFRS as issued by the International Accounting Standards Board, and are effective for IFRS as endorsed by the EU for periods ending
after January 1, 2016.



| |  |  | Amendments to IAS 27 Separate financial statements - Equity method in separate financial statements
| | - |  | ---------------------------------------------------------------------------------------------------



| |  |  | Amendments to IAS 1 Presentation of financial statements  Disclosure initiative
| | - |  | --------------------------------------------------------------------------------



| |  |  | Annual Improvements to IFRSs 20122014 Cycle
| | - |  | --------------------------------------------



| |  |  | IFRS 5 Non-current Assets Held for Sale and Discontinued Operations - Changes in method of disposal
| | - |  | ---------------------------------------------------------------------------------------------------



| |  |  | IFRS 7 Financial Instruments: Disclosures  Servicing contracts
| | - |  | ---------------------------------------------------------------



| |  |  | IFRS 7 Financial instruments disclosure - Offsetting disclosures in interim financial statements
| | - |  | ------------------------------------------------------------------------------------------------



| |  |  | IAS 19 Employee benefits - Discount rate
| | - |  | ----------------------------------------



| |  |  | IAS 34 Interim Financial Statements
| | - |  | -----------------------------------



| |  |  | Amendments to IAS 16 and IAS 38: Clarification of Acceptable Methods of Depreciation and Amortisation
| | - |  | -----------------------------------------------------------------------------------------------------



| |  |  | Amendments to IFRS 11 Joint arrangements - Accounting for Acquisitions of Interests in Joint Operations
| | - |  | -------------------------------------------------------------------------------------------------------



F-8



---

##### Table of Contents

For preparation of these financial statements, the Group has concluded that these standards are not applicable
and/or do not have a significant impact.

Use of estimates and judgments

The preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect
the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates, which together with underlying assumptions, are reviewed on an on-going basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.

Judgments, estimates and assumptions applied by management in preparing these financial statements are based on circumstances as at December
31, 2016, and Interxion operating as a stand-alone company.

In particular, information about significant areas of estimation uncertainty
and critical judgments in applying accounting policies that have the most significant effect on amounts recognized in the financial statements are discussed below:

Property, plant and equipment depreciation (see also Note 11)  Estimated remaining useful lives and residual values are reviewed
annually. The carrying values of property, plant and equipment are also reviewed for impairment, where there has been a triggering event, by assessing the present value of estimated future cash flows and net realizable value compared with net book
value. The calculation of estimated future cash flows and residual values is based on the Groups best estimates of future prices, output and costs and is, therefore, subjective. In addition, the valuation of some of the assets under
construction requires judgments that are related to the probability of signing lease contracts and obtaining planning permits.

Intangible fixed assets amortization (see also Note 12) Estimated remaining useful lives are reviewed annually. The carrying
values of intangible fixed assets are also reviewed for impairment where there has been a triggering event by assessing the present value of estimated future cash flows and fair value compared with net book value. The calculation of estimated future
cash flows is based on the Groups best estimates of future prices, output and costs and is, therefore, subjective.

Lease
accounting (see also Note 23)  At inception or modification of an arrangement, the Group determines whether such an arrangement is, or contains, a lease. Classification of a lease contract is based on the extent to which risks and rewards
incidental to ownership of a leased asset lie with the lessor or the lessee. The classification of lease contracts includes the use of judgments and estimates.

Provision for onerous lease contracts (see also Note 19)  A provision is made for the discounted amount of future losses that are
expected to be incurred in respect of unused data center sites over the term of the leases. Where unused sites have been sublet, or partly sublet, management has taken account of the contracted sublease income expected to be received over the
minimum sublease term, which meets the Groups revenue recognition criteria in arriving at the amount of future losses.

Costs of
site restoration (see also Note 25)  Liabilities in respect of obligations to restore premises to their original condition are estimated at the commencement of the lease and reviewed yearly, based on the rent period, contracted extension
possibilities and possibilities of lease terminations.

Deferred tax (see also Note 10)  Provision is made for deferred tax
at the rates of tax prevailing at the period-end dates unless future rates have been substantively enacted. Deferred tax assets are recognized where it is probable that they will be recovered based on
estimates of future taxable profits for each tax jurisdiction. The actual profitability may be different depending on local financial performance in each tax jurisdiction.

Share-based payments (see also Note 22)  The Group issues equity-settled share-based payments to certain employees under the
terms of the long-term incentive plans. The charges related to equity-settled share-based payments, options to purchase ordinary shares and restricted and performance shares, are measured at fair value at the date of grant. The fair value at the
grant date of options is determined using the Black Scholes model and is expensed over the vesting period. The fair value at grant date of the performance shares is determined using the



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Monte Carlo model and is expensed over the vesting period. The value of the expense is dependent upon certain assumptions including the expected future volatility of the Groups share price
at the date of grant and, for the performance shares, the relative performance of the Groups share price compared with a group of peer companies.

Senior Secured Notes due 2020 (see also Note 20) The Senior Secured Notes due 2020 are valued at amortized cost. The Senior
Secured Notes due 2020 indenture includes specific early redemption clauses. As part of the initial measurement of the amortized costs value of the Senior Secured Notes due 2020 it is assumed that the Notes will be held to maturity. If an early
redemption of all or part of the Notes is expected, the liability will be re-measured based on the original effective interest rate. The difference between the liability, excluding a change in assumed early
redemption and the liability, including a change in assumed early redemption, will go through the profit and loss.

Functional and presentation
currency

These consolidated financial statements are presented in euro, the Companys functional and presentation currency. All
information presented in euros has been rounded to the nearest thousand, except when stated otherwise.



|3 | Significant accounting policies
|- | -------------------------------

Basis of consolidation

The consolidated financial statements incorporate the financial statements of the Company and all entities that are directly or indirectly
controlled by the Company. Subsidiaries are entities that are controlled by the Group. The Group controls an entity when it is exposed to, or has the right to, variable returns from its involvement with the entity and has the ability to affect those
returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date on which control commences until the date on which control ceases.

The accounting policies set out below have been applied consistently by all subsidiaries to all periods presented in these consolidated
financial statements.

Loss of control

When the Group loses control over a subsidiary, the Company de-recognises the assets and liabilities of
the subsidiary, any non-controlling interests and the other components of equity related to the subsidiary. Any surplus or deficit arising on the loss of control is recognized in profit or loss.

Transactions eliminated on consolidation

Intercompany balances and transactions, and any unrealized income and expenses arising from intercompany transactions, are eliminated in
preparing the consolidated financial statements.

Subsidiaries

With the exception of Stichting Administratiekantoor Management Interxion, all the subsidiary undertakings of the Group, as set out below are
wholly owned as of December 31, 2016. Stichting Administratiekantoor is part of the consolidation based on the Groups control over the entity.

Interxion HeadQuarters B.V., Amsterdam, The Netherlands;

Interxion Nederland B.V., Amsterdam, The Netherlands;

Interxion Trademarks B.V., Amsterdam, The Netherlands;

Interxion
Participation 1 B.V., Amsterdam, The Netherlands;

Interxion Österreich GmbH, Vienna, Austria;

Interxion Real Estate VII GmbH, Vienna, Austria;

Interxion
Belgium N.V., Brussels, Belgium;

Interxion Real Estate IX N.V., Brussels, Belgium;



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Interxion Denmark ApS, Copenhagen, Denmark;

Interxion Real Estate VI ApS, Copenhagen, Denmark;

Interxion
France SAS, Paris, France;

Interxion Real Estate II SARL, Paris, France;

Interxion Real Estate III SARL, Paris, France;

Interxion Real
Estate XI SARL, Paris, France;

Interxion Deutschland GmbH, Frankfurt, Germany;

Interxion Ireland DAC, Dublin, Ireland;

Interxion Telecom SRL,
Milan, Italy;

Interxion España SA, Madrid, Spain;

Interxion Sverige AB, Stockholm, Sweden;

Interxion (Schweiz) AG,
Zurich, Switzerland;

Interxion Real Estate VIII AG, Zurich, Switzerland;

Interxion Carrier Hotel Ltd., London, United Kingdom;

Interxion
Europe Ltd., London, United Kingdom;

Interxion Real Estate Holding B.V., Amsterdam, The Netherlands;

Interxion Real Estate I B.V., Amsterdam, The Netherlands;

Interxion Real Estate IV B.V., Amsterdam, The Netherlands;

Interxion Real Estate V B.V., Amsterdam, The Netherlands;

Interxion Real Estate X B.V., Amsterdam, The Netherlands;

Interxion Operational B.V., Amsterdam, The Netherlands;

Interxion Datacenters B.V., The Hague, The Netherlands (formerly Centennium Detachering B.V.);

Interxion Consultancy Services B.V., Amsterdam, The Netherlands (dormant);

Interxion Telecom B.V., Amsterdam, The Netherlands (dormant);

Interxion Trading B.V., Amsterdam, The Netherlands (dormant);

Interxion B.V., Amsterdam, The Netherlands (dormant);

Interxion Telecom Ltd., London, United Kingdom (dormant);

Stichting Administratiekantoor Management Interxion, Amsterdam, The Netherlands.

Foreign currency

Foreign currency transactions

The individual financial statements of each Group entity are presented in the currency of the primary economic environment in which
the entity operates (its functional currency). For the purpose of the consolidated financial statements, the results and the financial position of each entity are expressed in euros, which is the functional currency of the Company and the
presentation currency for the consolidated financial statements.

In preparing the financial statements of the individual entities,
transactions in foreign currencies other than the entitys functional currency are recorded at the rates of exchange prevailing at the dates of the transactions. At each balance sheet date, monetary assets and liabilities denominated in foreign
currencies are retranslated at the rates prevailing at the balance sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. The income and
expenses of foreign operations are translated to euros at average exchange rates.

Foreign operations

For the purpose of presenting consolidated financial statements, the assets and liabilities of the Groups foreign operations are
expressed in euros using exchange rates prevailing at the balance sheet date. Income and expense items are translated at average exchange rates for the period. Exchange differences, if any, arising on net investments including receivables from or
payables to a foreign operation for which settlement is neither planned nor likely to occur, are recognized directly in the foreign currency translation reserve (FCTR) within equity. When control over a foreign operation is lost, in part or in full,
the relevant amount in the FCTR is transferred to profit or loss.



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Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily
take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. All other borrowing costs are recognized in
profit or loss in the period in which they are incurred.

Borrowing costs are capitalized based on the effective interest rate of the
Senior Secured Notes.

Statement of cash flows

The consolidated statement of cash flows is prepared using the indirect method. The cash flow statement distinguishes between operating,
investing and financing activities.

Cash flows in foreign currencies are converted at the exchange rate at the dates of the transactions.
Currency exchange differences on cash held are separately shown. Payments and receipts of corporate income taxes and interest paid are included as cash flow from operating activities.

Financial instruments

Derivative financial
instruments

Derivatives are initially recognized at fair value; any attributable transaction costs are recognized in profit and loss
as they are incurred. Subsequent to initial recognition, derivatives are measured at their fair value, and changes therein are generally recognized in profit and loss.

When a derivative is designated as a cash flow hedging instrument, the effective portion of changes in the fair value of the derivative is
recognized in other comprehensive income and accumulated in the hedging reserve. Any ineffective portion of changes in the fair value of the derivative is recognized immediately in profit or loss.

The amount accumulated in equity is retained in other comprehensive income and reclassified to the profit or loss in the same period, or
periods, during which the hedged item affects profit or loss.

If the hedging instrument no longer meets the criteria for hedge
accounting, expires, is sold, terminated or exercized, or the designation is revoked, hedge accounting is discontinued prospectively. If the forecast transaction is no longer expected to occur, the amount accumulated in equity is reclassified to
profit or loss.

Fair values are obtained from quoted market prices in active markets or, where an active market does not exist, by using
valuation techniques. Valuation techniques include discounted cash flow models.

Non-derivative financial
instruments

Non-derivative financial instruments comprise trade and other receivables, cash
and cash equivalents, loans and borrowings, and trade and other payables.

Non-derivative
financial instruments are recognized initially at fair value, net of any directly attributable transaction costs. Subsequent to initial recognition, non-derivative financial instruments are measured at
amortized cost using the effective interest method, less any impairment losses.

The Group de-recognizes a financial asset when the
contractual rights to the cash flows from the asset expire, or it transfers the right to receive the contractual cash flows in a transaction in which substantially all the risk and rewards of ownership of the financial asset are transferred. Any
interest in such transferred financial assets that is created or retained by the Group is recognized as a separate asset or liability.

Financial assets and liabilities are offset and the net amount presented in the statement of financial position when, and only when, the Group
has a legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously.

Financial assets are designated as at fair value through profit and loss if the Group manages such investments and makes purchase and sale
decisions based on their fair value in accordance with the Groups risk management



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or investment strategy. Attributable transaction costs are recognized in profit and loss as incurred. Financial assets at fair value through profit and loss are measured at fair value and changes
therein, which takes into account any dividend income, are recognized in profit and loss.

The fair values of investments in equity are
determined with reference to their quoted closing bid price at the measurement date or, if unquoted, using a valuation technique.

Trade receivables
and other current assets

Trade receivables and other current assets are recognized initially at fair value and subsequently measured
at amortized cost using the effective interest method, less provision for impairment.

A provision for impairment of trade receivables and
other current assets is established when there is objective evidence that the Group will not be able to collect all amounts due according to the original term of the receivables. Significant financial difficulties of the debtor, probability that the
debtor will enter bankruptcy or financial reorganisation, and default or delinquency in payments are considered indicators that the trade receivable is impaired.

The amount of the provision is the difference between the assets carrying amount and the present value of estimated future cash flows,
discounted at the original effective interest rate. The carrying amount of the asset is reduced through the use of an allowance account, and the amount of the loss is recognized in the income statement.

When a trade receivable and other current asset is uncollectable, it is written off against the allowance account for trade receivables.
Subsequent recoveries of amounts previously written off are credited in the income statement.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly liquid investments with original
maturities of three months or less. Cash and cash equivalents, including short-term investments, is valued at face value, which equals its fair value. Restricted cash is included in other (non-) current assets
and accounted for at face value, which equals its fair value.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares and share options are
recognized as a deduction from equity, net of any tax effects.

Trade payables and other current liabilities

Trade payables and other current liabilities are recognized initially at fair value and subsequently measured at amortized cost using the
effective interest method.

Property, plant and equipment

Property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment losses.

Cost includes expenditure that is directly attributable to the acquisition or construction of the asset and comprises purchase cost, together
with the incidental costs of installation and commissioning. These costs include external consultancy fees, capitalized borrowing costs, rent and associated costs attributable to bringing the assets to a working condition for their intended use and
internal employment costs that are directly and exclusively related to the underlying asset. In case of operating leases where it is probable that the lease contract will not be renewed, the cost of self-constructed assets includes the estimated
costs of dismantling and removing the items and restoring the site on which they are located.

When parts of an item of property, plant
and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment.

Gains and losses on disposal of an item of property, plant and equipment are determined by comparing the proceeds from disposal with the
carrying amount of property, plant and equipment and are recognized within income.



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The cost of replacing part of an item of property, plant and equipment is recognized in the
carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the Group and its cost can be measured reliably. The carrying amount of the replaced part is de-recognized. The costs of the day-to-day servicing of property, plant and equipment are recognized in profit or loss as incurred.

Depreciation is calculated from the date an asset becomes available for use and is depreciated on a straight-line basis over the estimated
useful life of each part of an item of property, plant and equipment. Leased assets are depreciated on the same basis as owned assets over the shorter of the lease term and their useful lives. The principal periods used for this purpose are:



|                                         |  |                
|---------------------------------------- |  | ---------------
|Data center freehold land                |  | Not depreciated
|                                         | 
|Data center buildings                    |  | 15-30 years    
|                                         | 
|Data center infrastructure and equipment |  | 5-20 years     
|                                         | 
|Office equipment and other               |  | 3-15 years     

Depreciation methods, useful lives and residual values are reviewed annually.

Data center freehold land consists of the land owned by the Company and land leased by the Company under finance lease agreements. The data
center buildings consist of the core and shell in which we have constructed a data center. Data center infrastructure and equipment comprises data center structures, leasehold improvements, data center cooling and power infrastructure, including
infrastructure for advanced environmental controls such as ventilation and air conditioning, specialized heating, fire detection and suppression equipment and monitoring equipment. Office equipment and other comprised of office leasehold
improvements and office equipment consisting of furniture, computer equipment and software.

Intangible assets

Intangible assets represent power grid rights, software and other intangible assets, and are recognized at cost less accumulated amortization
and accumulated impairment losses. Other intangible assets principally consist of lease premiums (paid in addition to obtain rental contracts).

Software includes development expenditure, which is capitalized only if development costs can be measured reliably, the product or process is
technically and commercially feasible, future economic benefits are probable, and the Group intends to and has sufficient resources to complete development and to use the asset. The expenditure capitalized includes the cost of material, services and
direct labour costs that are directly attributable to preparing the asset for its intended use.

Amortization is calculated on a
straight-line basis over the estimated useful lives of the intangible asset. Amortization methods, useful lives are reviewed annually.

The estimated useful lives are:



|                       |  |            
|---------------------- |  | -----------
|    Power grid rights |  | 1015 years
|                       | 
|    Software          |  | 35 years  
|                       | 
|    Other             |  | 312 years 

Impairment of non-financial assets

The carrying amounts of the Groups non-financial assets, other than deferred tax assets, are
reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the assets recoverable amount is estimated. For intangible assets that are not yet available for use, the
recoverable amount is estimated annually.

The recoverable amount of an asset or cash-generating unit is the greater of either its value
in use or its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market
assessments of the time value of money and the risks specific to the asset. For the purpose of impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely
independent of the cash inflows of other assets or groups of assets (the cash-generating unit).



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Considering the Company manages its data centers by country, and, given the data center
campus-structures, the financial performance of data centers within a country is highly inter-dependent, the Company has determined that the cash-generating unit for impairment-testing purposes should be the group of data centers per country, unless
specific circumstances would indicate that a single data center is a cash-generating unit.

An impairment loss is recognized if the
carrying amount of an asset or its cash-generating unit exceeds its estimated recoverable amount. Impairment losses are recognized in profit or loss. Impairment losses recognized in respect of cash-generating units are to reduce the carrying amount
of the assets in the unit (group of units) on a pro-rata basis.

Impairment losses recognized in
prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment
loss is reversed only to the extent that the assets carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized.

Borrowings

Borrowings are recognized
initially at fair value, net of transaction costs incurred. Borrowings are subsequently stated at amortized cost; with any difference between the proceeds (net of transaction costs) and the redemption value recognized in the income statement over
the period of the borrowings using the effective interest method.

Borrowings are classified as current liabilities unless the Group has
an unconditional right to defer settlement of the liability for at least 12 months after the balance sheet date. The Group de-recognizes a borrowing when its contractual obligations are discharged, cancelled or expired.

As part of the initial measurement of the amortized costs value of the Senior Secured Notes due 2020, it is assumed that the Notes will be
held to maturity. If an early redemption of all or part of the Notes is expected, the liability will be re-measured based on the original effective interest rate. The difference between the liability,
excluding a change in assumed early redemption and the liability, including a change in assumed early redemption, will be recognized in profit and loss.

Provisions

A provision is recognized in
the statement of financial position when the Group has a present legal or constructive obligation as a result of a past event; it is probable that an outflow of economic benefits will be required to settle the obligation and the amount can be
estimated reliably. Provisionsare determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate,
the risks specific to the liability. The discount rate arising on the provision is amortized in future years through interest.

A
provision for site restoration is recognized when costs for restoring leasehold premises to their original condition at the end of the lease are probable to be incurred and it is possible to make an accurate estimate of these costs. The discounted
cost of the liability is included in the related assets and is depreciated over the remaining estimated term of the lease. If the likelihood of this liability is estimated to be possible, rather than probable, it is disclosed as a contingent
liability in Note 25.

A provision for onerous lease contracts is recognized when the expected benefits to be derived by the Group from a
contract are lower than the unavoidable cost of meeting its obligations under the contract. The provision is measured at the discounted amount of future losses expected to be incurred in respect of unused data center sites over the term of the
leases. Where unused sites have been sublet or partly sublet, management has taken account of the contracted sublease income expected to be received over the minimum sublease term, which meets the Groups revenue recognition criteria in
arriving at the amount of future losses. Before a provision is established, the Group recognises any impairment loss on the assets associated with that contract.



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Leases

Leases, in which the Group assumes substantially all the risks and rewards of ownership, are classified as finance leases. On initial
recognition, the leased asset is measured at an amount equal to the lower of either its fair value or the present value of the minimum lease payments. Subsequent to initial recognition, the asset is accounted for in accordance with the accounting
policy applicable to that asset. The finance lease obligations are presented as part of the long-term liabilities and, as far as amounts need to be repaid within one year, as part of current liabilities.

Other leases are operating leases and the leased assets are not recognized on the Groups statement of financial position. Payments made
under operating leases are recognized in the income statement, or capitalized during construction, on a straight-line basis over the term of the lease. Lease incentives received are recognized as an integral part of the total lease expense, over the
term of the lease.

Minimum finance lease payments are apportioned between the finance charge and the reduction of the outstanding
liability. The finance charge is allocated to each period during the lease term so as to produce a constant periodic rate of interest on the remaining balance of the liability.

At inception or modification of an arrangement, the Group determines whether such an arrangement is, or contains, a lease. This will be the
case if the following two criteria are met:



| |  |  | the fulfilment of the arrangement is dependent on the use of a specific asset or assets; and
| | - |  | --------------------------------------------------------------------------------------------



| |  |  | the arrangement contains the right to use an asset.
| | - |  | ---------------------------------------------------

For leased properties on which our data
centers are located, we generally seek to secure property leases for terms of 20 to 25 years. Where possible, we try to mitigate the long-term financial commitment by contracting for initial lease terms for a minimum period of 10 to 15 years with
the option for us either to (i) extend the leases for additional five-year terms or (ii) terminate the leases upon expiration of the initial 10- to 15-year
term. Our leases generally have consumer price index based annual rent increases over the full term of the lease. Certain of our leases contain options to purchase the asset.

Segment reporting

The segments are
reported in a manner consistent with internal reporting provided to the chief operating decision-maker, identified as the Board of Directors. There are two segments: the first is France, Germany, The Netherlands and the United Kingdom (the
Big4), the second is Rest of Europe, which comprises Austria, Belgium, Denmark, Ireland, Spain, Sweden and Switzerland. Shared expenses such as corporate management, general and administrative expenses, loans and borrowings
and related expenses and income tax assets and liabilities are stated in Corporate and other. The Big4 and Rest of Europe are different segments as management believes that the Big4 countries represent the largest opportunities for Interxion,
from market trends and growth perspective to drive the development of its communities of interest strategy within customer segments and the attraction of magnetic customers. As a result, over the past three years we have invested between 68% and 70%
of our capital expenditure in the Big4 segment while revenue constituted an average of 64% of total revenue over the same period.

Segment
results, assets and liabilities include items directly attributable to a segment as well as those that can be allocated on a reasonable basis. Unallocated items presented as Corporate and other principally comprise loans and borrowings and
related expenses; corporate assets and expenses (primarily the Companys headquarters); and income tax assets and liabilities.

Segment capital expenditure is defined as the net cash outflow during the period to acquire property, plant and equipment, and intangible
assets other than goodwill.



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EBITDA and Adjusted EBITDA, as well as Recurring Revenue, are additional indicators of our
operating performance, and are not required by or presented in accordance with IFRS.

We define EBITDA as net income plus income tax
expense, net finance expense, depreciation, amortisation and impairment of assets.

We define Adjusted EBITDA as EBITDA adjusted for the
following items, which may occur in any period, and which management believes are not representative of our operating performance:



| |  |  | Share-based payments  primarily the fair value at the date of grant to employees of equity awards, is recognized as an employee expense over the vesting period. We believe that this expense does not represent our
operating performance.
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | Income or expense related to the evaluation and execution of potential mergers or acquisitions (M&A)  under IFRS, gains and losses associated with M&A activity are recognized in the period
incurred. We exclude these effects because we believe they are not reflective of our on-going operating performance.
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | Adjustments related to terminated and unused data center sites  these gains and losses relate to historical leases entered into for certain brownfield sites, with the intention of developing data centers, which
were never developed and for which management has no intention of developing into data centers. We believe the impact of gains and losses related to unused data centers are not reflective of our business activities and our on-going operating performance.
| | - |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

In certain circumstances, we may also adjust for items
that management believes are not representative of our current on-going performance. Examples of this would include: adjusting for the cumulative effect of a change in accounting principle or estimate,
impairment losses, litigation gains and losses or windfall gains and losses.

We believe EBITDA and Adjusted EBITDA provide useful supplemental
information to investors regarding our on-going operational performance because these measures help helps us and our investors evaluate the on-going operating
performance of the business after removing the impact of our capital structure (primarily interest expense) and our asset base (primarily depreciation and amortisation). Management believes that the presentation of Adjusted EBITDA, when combined
with the primary IFRS presentation of net income provides a more complete analysis of our operating performance. Management also believes the use of EBITDA and Adjusted EBITDA facilitates comparisons between us and other data center operators and
other data center operators that are REITs and other infrastructure based businesses. EBITDA and Adjusted EBITDA are also relevant measures used in the financial covenants of our 100.0 million revolving facility and our 6.00% Senior
Secured Notes due 2020.

This information, provided to the chief operating decision-maker, is disclosed to permit a more complete analysis
of our operating performance. Exceptional items are those significant items that are separately disclosed by virtue of their size, nature or incidence to enable a full understanding of the Groups financial performance.

We define Recurring Revenue as revenue incurred monthly from colocation, connectivity and associated power charges, office space, amortized set-up fees and certain recurring managed services (but excluding any ad hoc managed services) provided by us directly or through third parties, excluding rents received for the sublease of unused sites.

Revenue recognition

Revenue is
recognized when it is probable that future economic benefits will flow to the Group and that these benefits, together with their related costs, can be measured reliably. Revenue is measured at the fair value of the consideration received or
receivable taking into account any discounts or volume rebates.

The Group reviews transactions for separately identifiable components
and, if necessary, applies individual recognition treatment, revenues are allocated to separately identifiable components based on their relative fair values.

The Group earns colocation revenue as a result of providing data center services to customers at its data centers. Colocation revenue and
lease income are recognized in profit or loss on a straight-line basis over the term of the customer contract. Incentives granted are recognized as an integral part of the total income, over the term of the customer contract. Customers are usually
invoiced quarterly in advance and income is recognized on a straight-line basis over the quarter. Initial setup fees payable at the beginning of customer contracts are deferred at inception and recognized in the income statement on a straight-line
basis over the initial term of the customer contract. Power revenue is recognized based on customers usage.

Other services revenue,
including managed services, connectivity and customer installation services including equipment sales are recognized when the services are rendered. Certain installation services and equipment sales, which by their nature have a non-recurring character, are presented as non-recurring revenues and are recognized on delivery of service.



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Deferred revenues relating to invoicing in advance and initial setup fees are carried on the
statement of financial position as part of trade payables and other liabilities. Deferred revenues due to be recognized after more than one year are held in non-current liabilities.

Cost of sales

Cost of sales consists
mainly of rental costs for the data centers and offices, power costs, maintenance costs relating to the data center equipment, operation and support personnel costs and costs related to installations and other customer requirements. In general,
maintenance and repairs are expensed as incurred. In cases where maintenance contracts are in place, the costs are recorded on a straight-line basis over the contractual period.

Sales and marketing costs

The operating
expenses related to sales and marketing consist of costs for personnel (including sales commissions), marketing and other costs directly related to the sales process. Costs of advertising and promotion are expensed as incurred.

General and administrative costs

General
and administrative costs are expensed as incurred and include depreciation expenses.

Employee benefits

Defined contribution pension plans

A
defined contribution pension plan is a post-employment plan under which an entity pays fixed contributions into a separate entity and has no legal or constructive obligation to pay further amounts. Obligations for contributions to defined
contribution plans are recognized as an employee benefit expense in the income statement in the periods during which the related services are rendered by employees. Prepaid contributions are recognized as an asset to the extent that a cash refund or
a reduction in future payments is available. Contributions to a defined contribution plan, which are due more than 12 months after the end of the period in which the employees render the service, are discounted to their present value.

Termination benefits

Termination
benefits are recognized as an expense when the Group is demonstrably committed, without realistic possibility of withdrawal, to a formal detailed plan to either terminate employment before the normal retirement date, or to provide termination
benefits as a result of an offer made to encourage voluntary redundancy. Termination benefits for voluntary redundancy are recognized as an expense if the Group has made an offer of voluntary redundancy, it is probable that the offer will be
accepted, and the number of acceptances can be estimated reliably. If benefits are payable more than 12 months after the reporting date, they are discounted to their present value.

Share-based payments

The long-term
incentive programme enables Group employees to earn and/or acquire shares of the Group. The fair value at the date of grant to employees of share options, as determined using the Black Scholes model for options and the Monte Carlo model for the
performance shares, is recognized as an employee expense, with a corresponding increase in equity, over the period that the employees become unconditionally entitled to the options and/or shares. Restricted shares are valued based on the market
value at grant date. The amount recognized as an expense is adjusted to reflect the actual number of share options, restricted and performance shares that vest.

Finance income and expense

Finance
expense comprises interest payable on borrowings calculated using the effective interest rate method, gains on financial assets recognized at fair value through profit and loss and foreign exchange gains and losses. Borrowing costs directly
attributable to the acquisition or construction of data center assets, which are assets that necessarily take a substantial period of time to get ready for their intended use, are added to the costs of those assets, until such time as the assets are
ready for their intended use.



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Interest income is recognized in the income statement as it accrues, using the effective interest
method. The interest expense component of finance lease payments is recognized in the income statement using the effective interest rate method.

Foreign currency gains and losses are reported on a net basis, as either finance income or expenses, depending on whether the foreign currency
movements are in a net gain or a net loss position.

Income tax

Income tax on the profit or loss for the year comprises current and deferred tax. Income tax is recognized in the income statement except to
the extent that it relates to items recognized directly in equity, in which case it is recognized in equity.

Current tax is the expected
tax payable on the taxable income for the year, using tax rates enacted or substantially enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.

Deferred tax is recognized in respect of temporary differences between the carrying amount of assets and liabilities for financial reporting
purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: the initial recognition of assets or liabilities that affect neither accounting nor taxable profit, nor differences relating to
investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realization or settlement of the carrying amount of assets and
liabilities, using tax rates enacted or substantively enacted at the balance sheet date that are expected to be applied to temporary differences when they reverse or loss carry forwards when they are utilized.

A deferred tax asset is also recognized for unused tax losses and tax credits. A deferred tax asset is recognized only to the extent that it
is probable that future taxable profits will be available against which the asset can be utilized. Deferred tax assets are reduced to the extent that it is no longer probable that the related tax benefit will be realized.

Additional income taxes that arise from the distribution of dividends are recognized at the same time as the liability to pay the related
dividend.

In determining the amount of current and deferred tax, the Company takes into account the impact of uncertain tax positions and
whether additional taxes and interest may be due. The Company believes that its accruals for tax liabilities are adequate for all open tax years based on its assessment of many factors, including interpretations of tax law and prior experience. This
assessment relies on estimates and assumptions and may involve a series of judgments about future events. New information may become available that causes the Company to change its judgment regarding the adequacy of existing tax liabilities; such
changes to tax liabilities will have an impact on tax expense in the period that such a determination is made.

Deferred tax assets and
liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to
settle current tax liabilities and assets on a net basis of their tax assets and liabilities will be realized simultaneously.

Earnings per share

The Group presents basic and diluted earnings per share (EPS) data for its ordinary shares. Basic EPS is calculated by dividing the
profit or loss attributable to ordinary and preference shareholders of the Company by the weighted average number of ordinary shares outstanding during the year. Diluted EPS is determined by adjusting the profit or loss attributable to ordinary
shareholders and the weighted average number of ordinary outstanding for the effects of all dilutive potential ordinary shares, which comprise the share options granted.



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New standards and interpretations not yet adopted

The new standards, amendments to standards and interpretations listed below are available for early adoption in the annual period beginning
January 1, 2016, although they are not mandatory until a later period. The Group has decided not to adopt these new standards or interpretations until a later point in time.



|                      |  |  |  |                                                                                                                        
|--------------------- |  |  |  | -----------------------------------------------------------------------------------------------------------------------
|Effective date        |  |  |  | New standard or amendments                                                                                             
|Deferred indefinitely |  |  |  | Amendments to IFRS 10 and IAS 28: Sale or contribution of assets between an investor and its associate or joint venture
|January 1, 2017       |  |  |  | Amendments to IAS 12: Recognition of deferred tax assets for unrealized losses                                         
|January 1, 2017       |  |  |  | Amendments to IAS 7: Disclosure initiative                                                                             
|January 1, 2018       |  |  |  | IFRS 15  Revenue from contract with customer;                                                                         
|January 1, 2018       |  |  |  | IFRS 9  Financial instruments;                                                                                        
|January 1, 2018       |  |  |  | Amendments to IFRS 2: Classification and measurement of share-based payment transactions                               

IFRS 15  Revenue from Contracts with Customers

In 2014, the International Accounting Standards Board (IASB) introduced new accounting principles (IFRS 15) for the recognition of revenue from contracts with
customers. IFRS 15 specifies how and when revenue is recognized together with enhanced disclosure requirements.

IFRS 15 replaces existing revenue
recognition standards: IAS 11 Construction Contracts and IAS 18 Revenue, and a number of revenue-related interpretations.

The new standard
provides a single, principles based five-step model to be applied to all contracts with customers. In addition, it provides new guidance on whether revenue should be recognized at a specific point in time or over-time and it moves away from the
current risks and rewards concept of revenue recognition to a concept of transfer of control.

We have completed our initial
assessment of the potential impact of the adoption of IFRS 15 on our financial statements for our standard customer agreement. The main aspects of the performed impact assessment are set out below, following the five-step model.



|                                                          |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|--------------------------------------------------------- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Five step model                                           |  | Preliminary conclusions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                          | 
|Step 1:identify thecontract(s)with acustomer              |  | IFRS 15 requires a contract to create an enforceable right and obligation. The Company is confident that all the standard agreements with customers meet this requirement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|                                                          | 
|Step 2:identify theperformanceobligations inthe contract. |  | The standard requires that at the inception of a contract, we must identify the promised goods and services within the contract and determine which of those goods and services are separate (distinct) performance obligations.
Although we are still in the process of analyzing the full impact of IFRS 15, we are comfortable that we have identified the separate performance obligations in the standard agreements.                                                                                                                                                                                                                                                                                                                                 
|                                                          | 
|Step 3:determine thetransactionprice                      |  | Under IFRS 15, the transaction price is based on the amount to which we are entitled under the present contract. The transaction price does
not include estimates of consideration resulting from future requests for additional goods and services. The amount to which we expect to be entitled also excludes amounts, such as amounts due as sales tax, collected on behalf of a third party.
 Determining the transaction price is an important step in applying IFRS 15 because the
transaction price is allocated to the identified performance obligations and is recognized as revenue when (or as) those performance obligations are satisfied. 
Based on the work performed in this area we do not expect major changes to the transaction price.



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|                                                                              |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|----------------------------------------------------------------------------- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                              | 
|Step 4:allocate thetransactionprice to theperformanceobligations              |  | Once the separate performance obligations are identified (Step 2) and the transaction price has been determined (Step 3), IFRS 15
generally requires the allocation of the transaction price to the performance obligations in proportion to their stand-alone selling prices (i.e., on a relative stand-alone selling price basis).
 To allocate the transaction price on a relative stand-alone selling price basis, we must
first determine the stand-alone selling price of the distinct good or service underlying each performance obligation. Under the standard provided, the stand-alone selling price is the price at which we would sell a good or service on a stand-alone
(or separate) basis at the inception of a contract.  It is expected that the allocation
of the transaction price to the separate performance obligations based on the relative stand-alone selling price will not have a significant impact on our revenues, as the majority of services provided is part of one single performance
obligation which makes use of the Contracted Recurring Revenue method.
|                                                                              | 
|Step 5:recogniserevenuewhen (or as)the entitysatisfied aperformanceobligation |  | Under IFRS 15, we can recognize revenue only when we satisfy an identified performance obligation by transferring a promised good or
service to our customer. We consider a good or service to be transferred when the customer obtains control. IFRS 15 states that control of an asset refers to the ability to direct the use of and obtain substantially all of the remaining
benefits from the asset.  The standard provided that an entity must determine, at
the inception of a contract, whether it will transfer control of a promised good or service over-time or at a point in time. 
From our analysis to date, as the customers under our standard contracts simultaneously receive and consume the benefits provided by our performance, we are
comfortable that IFRS 15 permits the revenue from the majority of our contracts to continue to be recognized over-time.                                                                                                                                                                                                           

We are not yet in the position fully to determine the quantitative impact of IFRS 15. However, based on analysis to date of
our standard agreements, there is no indication that the timing of our revenue recognition will be significantly affected, since our current accounting treatment is substantially in line with this new standard. The impact of IFRS 15 on non-standard contracts will be assessed in 2017. These new principles will become effective for Interxion from and for the annual reporting period starting on January 1, 2018.

IFRS 16 - Leases

In January 2016, the
IASB issued IFRS 16  Leases, which requires most leases to be recognized on-balance for lessees, thereby eliminating the distinction between operating and finance leases. IFRS 16 replaces IAS 17 - Leases
and related interpretations.

Under IFRS 16, a lessee recognizes a
right-of-use asset together with a lease liability. The right-of-use asset is treated
similarly to other non-financial assets and is accounted for in accordance with the accounting policy applicable to that asset and is depreciated accordingly. The lease liability is initially measured at the
present value of the lease payments payable over the lease term, discounted at the rate implicit in the lease if such rate can be readily determined. If the interest rate implicit in the lease cannot be readily determined, the incremental borrowing
rate should be used for discounting and the liability accrues interest.

In addition, the nature of expenses related to leases currently
accounted for as operating leases, will change under IFRS 16, as the straight line operating lease expenses will be replaced with a depreciation charge for the
right-of-use assets and interest expenses on lease liabilities.

IFRS 16 must be adopted for periods beginning on or after January 1, 2019, with earlier adoption being permitted if the abovementioned
IFRS 15 has also been adopted. As of December 31, 2016, the European Commission had not endorsed this standard. The Company has not decided whether or not to early adopt IFRS 16.



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##### Table of Contents

The Company has not yet assessed the impact of the aforementioned new standards and
interpretations, but is expecting a significant impact in respect of the assets and liabilities that will need to be recognized for its operating leases for land and buildings, among others.

In this respect, the Company identified more than 300 million of off-balance operating
lease obligations for operating lease obligations (undiscounted) as of December 31, 2016. See note 23.



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##### Table of Contents

|4 | Financial risk management
|- | -------------------------

Overview

The Group has exposure to the following risks from its use of financial instruments:



| |  |  | credit risk;
| | - |  | ------------



| |  |  | liquidity risk;
| | - |  | ---------------



| |  |  | market risk;
| | - |  | ------------



| |  |  | other price risks.
| | - |  | ------------------

This note presents information about the Groups exposure to each of
the above risks, the Groups goals, policies and processes for measuring and managing risk, and its management of capital. Further quantitative disclosures are included throughout these consolidated financial statements.

The Board of Directors has overall responsibility for the oversight of the Groups risk management framework.

The Group continues developing and evaluating the Groups risk management policies with a view to identifying and analyzing the risks
faced, to setting appropriate risk limits and controls, and to monitoring risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Groups activities. The Group,
through its training and management standards and procedures, aims to develop a disciplined and constructive control environment in which all employees understand their roles and obligations.

The Board of Directors oversees the way management monitors compliance with the Groups risk management policies and procedures and
reviews the adequacy of the risk management framework in relation to the risks the Group faces.

Credit risk

Credit risk is the risk of financial loss to the Group if a customer, bank or other counterparty to a financial instrument were to fail to meet
its contractual obligations. It principally arises from the Groups receivables from customers. The Groups most significant customer, which is serviced from multiple locations and under a number of service contracts, accounted for 13% of
revenues in 2016, for 11% of revenues in 2015, and for less than 10% in 2014.

Trade and other receivables

The Groups exposure to credit risk is mainly influenced by the individual characteristics of each customer. The makeup of the
Groups customer base, including the default risk of the industry and the country in which customers operate, has less of an influence on credit risk.

The Group has an established credit policy under which each new customer is analyzed individually for creditworthiness before it begins to
trade with the Group. If customers are independently rated, these ratings are used. If there is no independent rating, the credit quality of the customer is analyzed taking its financial position, past experience and other factors into account.

The Groups standard terms require invoices for contracted services to be settled before the services are delivered. In addition to the
standard terms, the Group provides service-fee holidays on long-term customer contracts, for which an accrued revenue balance is accounted. In the event that a customer fails to pay amounts that are due, the
Group has a clearly defined escalation policy that can result in a customers access to their equipment being denied or in service to the customer being suspended.

In 2016, 95% (2015: 94% and 2014: 94%) of the Groups revenue was derived from contracts under which customers paid an agreed contracted
amount, including power on a regular basis (usually monthly or quarterly) or from deferred initial setup fees paid at the outset of the customer contract.

As a result of the Groups credit policy and the contracted nature of the revenues, losses have been infrequent (see Note 21). The Group
establishes an allowance that represents its estimate of potential incurred losses in respect of trade and other receivables. This allowance is entirely composed of a specific loss component relating to individually significant exposures.



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##### Table of Contents

Loans given

The Group has given a USD 2.0 million convertible loan to Icolo Ltd, a start-up company that is
building a data center in Kenya.

Bank counterparties

The Group has certain obligations under the terms of its revolving loan agreement and Senior Secured Notes which limit disposal with surplus
cash balances. The Group monitors its cash position, including counterparty and term risk, on a daily basis.

Guarantees

Certain of our subsidiaries have granted guarantees to our lending banks in relation to our facilities. The Company grants rent guarantees to
landlords of certain of the Groups property leases (see Note 25).

Liquidity risk

Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Groups approach to
managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to its reputation
or jeopardizing its future.

The majority of the Groups revenues and operating costs are contracted, which assists it in monitoring
cash flow requirements, which it does on a daily and weekly basis. Typically, the Group ensures that it has sufficient cash on demand to meet expected normal operational expenses, including the servicing of financial obligations, for a period of 60
days; this excludes the potential impact of extreme circumstances, such as natural disasters, that cannot reasonably be predicted.

All
significant capital expansion projects are subject to formal approval by the Board of Directors, and material expenditure or customer commitments are made only once the management is satisfied that the Group has adequate committed funding to cover
the anticipated expenditure (see Note 23).

Senior Secured Notes

On July 3, 2013, the Company issued an aggregate principal amount of 325.0 million 6.00% Senior Secured Notes due 2020 (the
Senior Secured Notes due 2020). The net proceeds of the offering were used to purchase all of the 260 million Senior Secured Notes due 2017, which were tendered in the offer for those notes and to redeem the
260 million Senior Secured Notes due 2017, which remained outstanding following the expiration and settlement of the tender offer and consent solicitation, to pay all related fees, expenses and premiums and for other general corporate
purposes.

The Senior Secured Notes due 2020 are governed by an indenture dated July 3, 2013, between the Company, as issuer, and The
Bank of New York Mellon, London Branch as Trustee. The indenture contains customary restrictive covenants including, but not limited to, limitations or restrictions on our ability to incur debt, grant liens, make restricted payments and sell assets.
The restrictive covenants are subject to customary exceptions and are governed by a consolidated fixed charge ratio (Adjusted EBITDA to Finance Charges) to exceed 2.00 and a consolidated senior leverage ratio (Total Net Debt to Pro-forma EBITDA) not to exceed 4.00. In addition, the aggregate of any outstanding debt senior to our Senior Secured Notes should not exceed 100.0 million.

The obligations under the Senior Secured Notes due 2020 are guaranteed by certain of the Companys subsidiaries.

On April 29, 2014, the Company completed the issuance of 150.0 million aggregate principal amounted of 6.00% Senior Secured
Notes due 2020 (the Additional Notes). The net proceeds of the offering amount to 157.9 million, net of offering fees and expenses of 2.3 million. The net proceeds reflect the issuance of the Additional Notes at a
premium at 106.75 and net of offering fees and expenses. The Additional Notes, which are guaranteed by certain subsidiaries of the Company, were issued under the indenture pursuant to which, on July 3, 2013, the Company issued
325.0 million in aggregate principal amount of 6.00% Senior Secured Notes due 2020.



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On April 14, 2016, the Company completed the issuance of an additional
150.0 million aggregate principal amount of its 6.00% Senior Secured Notes due 2020 (together with the notes issued on April 29, 2014, the Additional Notes). The net proceeds of the offering amounted to approximately
155.3 million, net of estimated offering fees and expenses of 2.1 million. The net proceeds include the nominal value of the Additional Notes increased with a premium at 104.50. The Additional Notes, which are guaranteed by
certain subsidiaries of the Company, were issued under the indenture dated July 3, 2013, pursuant to which the Company has previously issued 475.0 million in aggregate principal amount of 6.00% Senior Secured Notes due 2020.

Senior Secured Facility

On
April 14, 2014, the Company entered into a senior secured facility agreement (the Senior Secured Facility Agreement) between, among others, the Issuer, Barclays Bank PLC and ABN AMRO Bank N.V. as lenders and Barclays Bank PLC, as
agent (the Agent) and security trustee, pursuant to which a 100.0 million senior secured term facility (the Senior Secured Facility) was made available to the Company.

Following the successful closing of the offering of Additional Notes (as defined and described in the preceding paragraph), the Company
terminated the 100.0 million Senior Secured Facility Agreement. No amounts had been drawn under the Senior Secured Facility Agreement. The deferred financing fees, amounting to 0.6 million were, however, written off in April
2014 in connection with the termination of the Secured Senior Facility Agreement.

Revolving Facility

On June 17, 2013, the Company entered into a new 100.0 million Revolving Facility Agreement with ABN AMRO Bank N.V., Barclays
Bank PLC, Citigroup Global Markets Limited, Credit Suisse AG, Bank of America Securities Limited, as arrangers, the lenders thereunder, Barclays Bank PLC, as agent and Barclays Bank PLC as security trustee. This new 100.0 million
Revolving Facility Agreement replaced the 60 million revolving facility agreement.

On July 3, 2013, in connection with
the issuance of the 325.0 million Senior Secured Notes due 2020, all conditions precedent to the utilization of this Revolving Facility Agreement were satisfied.

On July 28, 2014, Interxion Holding N.V. received consent from the lenders under its 100.0 million revolving facility to
decrease the net assets guarantor coverage from 70% to 65% for a one-year period with effect from June 30, 2014. The Company has not been in breach of any covenants during the year.

As of December 2014, following the addition of Interxion Österreich GmbH as obligor to the group of guarantors, the net assets guarantor
coverage exceeded 70%.

The net asset guarantor coverage is calculated as the aggregate net assets of the guarantors under the revolving
facility (calculated on an unconsolidated basis and excluding all intragroup items and investments in subsidiaries of any member of the Group), to consolidated net assets of the Group.

The Revolving Facility Agreement also requires the Company to maintain a specified financial ratio. The restrictive covenants are subject to
customary exceptions including, in relation to the incurrence of additional debt, a consolidated fixed charge ratio (calculated as a ratio of Adjusted EBITDA to consolidated interest expense), to exceed 2.00 to 1.00 on a pro forma basis for the four
full fiscal quarters (taken as one period) for which financial statements are available immediately preceding the incurrence of such debt and, if such debt is senior debt, a consolidated senior leverage ratio (calculated as a ratio of outstanding
senior debt net of cash and cash equivalents of the Company and its restricted subsidiaries (on a consolidated basis) to pro forma Adjusted EBITDA), to be less than 4.00 to 1.00 on a pro forma basis for the four full fiscal quarters (taken as one
period) for which financial statements are available immediately preceding the incurrence of such debt.

The Revolving Facility Agreement
also includes a leverage ratio financial covenant (tested on a quarterly basis) that requires total net debt (calculated as a ratio to pro forma EBITDA) not to exceed a leverage ratio of 4.00 to 1.00. In addition, the Company must ensure, under the
Revolving Facility Agreement, that the guarantors represent a certain percentage of Adjusted EBITDA, and a certain percentage of the consolidated net assets of the Group as a whole. Our ability to meet these covenants may be affected by events
beyond our control and, as a result, we cannot assure you that we will be able to meet the covenants. In the event of a default under the Revolving Facility Agreement, the lenders could terminate their commitments and declare all amounts owed to
them to be due and payable. Borrowings under other debt instruments that contain cross acceleration or cross default provisions, including the Senior Secured Notes, may as a result also be accelerated and become due and payable.



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The breach of any of these covenants by the Company or the failure by the Company to maintain its
leverage ratio could result in a default under the Revolving Facility Agreement. As of December 31, 2016, the Company was in compliance with all covenants in the Revolving Facility Agreement. In addition, the Company does not anticipate any
such breach or failure and believes that its ability to borrow funds under the Revolving Facility Agreement will not be adversely affected by the covenants in the next 12 months.

As at December 31, 2016, the Revolving Facility Agreement remained undrawn. The Companys consolidated fixed charge ratio stood at
4.51 and the net debt ratio/consolidated senior leverage ratio stood at 3.26.

Mortgages

On November 5, 2012, the Company secured a five-year mortgage bank loan of 10.0 million, which is secured by mortgages on the
AMS6 property, owned by Interxion Real Estate IV B.V. The loan is subject to a floating interest rate of EURIBOR plus an individual margin of 275 basis points. Interest is due quarterly in arrears. No financial covenants apply to this loan in
addition to the repayment schedule.

On January 18, 2013, the Group completed two mortgage financings totaling
10.0 million. The loans are secured by mortgages on the PAR3 land, owned by Interxion Real Estate II Sarl, and the PAR5 land, owned by Interxion Real Estate III Sarl, and by pledges on the lease agreements, and are guaranteed by Interxion
France SAS. The principal amounts on the two loans are to be repaid in quarterly installments in an aggregate amount of 167,000, commencing on April 18, 2013. The mortgages have a maturity of 15 years and have a variable interest rate based on
EURIBOR plus an individual margin ranging from 240 to 280 basis points. The interest rates have been fixed through an interest rate swap for 75% of the principal outstanding amount for a period of ten years. No financial covenants apply to this loan
next to the repayment schedule.

On June 26, 2013, the Group completed a 6 million mortgage financing. The loan is secured
by a mortgage on the AMS3 property, owned by Interxion Real Estate V B.V., and a pledge on the lease agreement. The principal is to be repaid in annual instalments of 400,000 commencing May 1, 2014 and a final repayment of 4,400,000 due
on May 1, 2018. The mortgage has a variable interest rate based on EURIBOR plus 275 basis points. The loan contains a minimum of 1.1 debt service capacity covenant ratio based on the operations of Interxion Real Estate V B.V.

On April 1, 2014, the Group completed a 9.2 million mortgage financing. The facility is secured by a mortgage on the data
center property in Zaventem (Belgium), which was acquired by Interxion Real Estate IX N.V. on January 9, 2014, and a pledge on the lease agreement, and is guaranteed by Interxion Real Estate Holding B.V. The facility has a maturity of 15 years
and has a variable interest rate based on EURIBOR plus 200 basis points. The principal amount is to be repaid in 59 quarterly instalments of 153,330 of which the first quarterly instalment was paid on July 31, 2014, and a final repayment of
153,330, which is due on April 30, 2029. No financial covenants apply to this loan next to the repayment schedule.

On
October 13, 2015, the Group completed a 15.0 million mortgage financing. The facility is secured by a mortgage on the German real estate property owned by Interxion Real Estate I B.V. and a pledge on the lease agreement. The facility
has a maturity of five years and has a variable interest rate based on EURIBOR plus 225 basis points. The principal amount is to be repaid in four annual instalments of 1,000,000 of which the first annual instalment was paid on September 30,
2016. The final repayment of 11,000,000 is due on September 30, 2020. No financial covenants apply to this loan in addition to the repayment schedule.

On April 8, 2016, the Group completed a 14.6 million financing. The facility is secured by a mortgage on the data center
property in Vienna (Austria), acquired by Interxion Real Estate VII GmbH in January 2015, and a pledge on the lease agreement, and is guaranteed by Interxion Real Estate Holding B.V. The facility has a maturity of 14 years and nine months, and has a
variable interest rate based on EURIBOR plus 195 basis points. The principal amount is due to be repaid in 177 monthly instalments, increasing from 76,000 to 91,750. The first monthly instalment of 76,000 was paid on April 30,
2016, and a final repayment of 91,750 is due on December 31, 2030.

Further details are in the Borrowing section (see Note 20).



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Market risk

Currency risk

The Group is exposed to
currency risk on sales, purchases and borrowings that are denominated in a currency other than the respective functional currencies of Group entities, primarily the euro, but also pounds sterling (GBP), Swiss francs (CHF), Danish kroner (DKK) and
Swedish kronor (SEK). The currencies in which these transactions are primarily denominated are EUR, GBP, CHF, DKK, SEK and USD.

Historically, the revenues and operating costs of each of the Groups entities have provided an economic hedge against foreign currency
exposure and have not required foreign currency hedging.

It is anticipated that a number of capital expansion projects will be funded in
a currency that is not the functional currency of the entity in which the associated expenditure will be incurred. In the event that this occurs and is material to the Group, the Group will seek to implement an appropriate hedging strategy.

The majority of the Groups borrowings are euro denominated and the Company believes that the interest on these borrowings will be
serviced from the cash flows generated by the underlying operations of the Group, the functional currency of which is the euro. The Groups investments in subsidiaries are not hedged.

Interest rate risk

Following the issue
of 6.00% Senior Secured Notes due 2020, the Group is not exposed to significant variable interest rate expense for borrowings.

On
November 5, 2012, the Company secured a five-year 10.0 million mortgage on the AMS6 data center property. The loan is subject to a floating interest rate of EURIBOR plus an individual margin of 275 basis points per annum. Interest is due
quarterly in arrears.

On January 18, 2013, the Group completed two mortgage financings totalling 10.0 million. The loans
are secured by mortgages, on the PAR3 land, owned by Interxion Real Estate II Sarl, and the PAR5 land, owned by Interxion Real Estate III Sarl, and pledges on the lease agreements, and are guaranteed by Interxion France SAS. The mortgages have a
maturity of 15 years and have a variable interest rate based on EURIBOR plus an individual margin ranging from 240 to 280 basis points. The interest rates have been fixed through an interest rate swap for 75% of the principal outstanding amount for
a period of ten years.

On June 26, 2013, the Group completed a 6 million mortgage financing. The loan is secured by a
mortgage on the AMS3 property, owned by Interxion Real Estate V B.V., and a pledge on the lease agreement. The mortgage loan has a variable interest rate based on EURIBOR plus 275 basis points.

On April 1, 2014, the Group completed a 9.2 million mortgage financing. The facility is secured by a mortgage on the data
center property in Zaventem (Belgium), which was acquired by Interxion Real Estate IX N.V. on January 9, 2014, and a pledge on the lease agreement, and is guaranteed by Interxion Real Estate Holding B.V. The mortgage loan has a variable
interest rate based on EURIBOR plus 200 basis points.

On October 13, 2015, the Group completed a 15.0 million mortgage
financing. The facility is secured by a mortgage on the real estate property in Germany, which is owned by Interxion Real Estate I B.V., and a pledge on the lease agreement. The facility has a maturity of five years and has a variable interest rate
based on EURIBOR plus 225 basis points.

On April 8, 2016, the Group completed a 14.6 million financing. The facility is
secured by a mortgage on the data center property in Vienna (Austria), acquired by Interxion Real Estate VII GmbH in January 2015, and a pledge on the lease agreement, and is guaranteed by Interxion Real Estate Holding B.V. The facility has a
maturity of 14 years and nine months, and has a variable interest rate based on EURIBOR plus 195 basis points. The principal amount is due to be repaid in 177 monthly instalments, increasing from 76,000 to 91,750. The first monthly
instalment of 76,000 was paid on April 30, 2016, and a final repayment of 91,750 is due on December 31, 2030.

As at
December 31, 2016, on the Revolving Facility Agreement the interest payable on EUR amounts drawn would be at the rate of EURIBOR plus 350 basis points, and for GBP amounts drawn the interest payable would be LIBOR plus 350 basis points. The
Revolving Facility Agreement was fully undrawn as at December 31, 2016.

Further details are in the Financial Instruments section (see
Note 21).

Other market price risk

Until 2014, the Group owned a 1.6% equity shareholding in iStreamPlanet Inc. This asset was measured at fair value through profit and loss. In
2015, the Group sold this shareholding.



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Other risks

Price risk

There is a risk that changes
in market circumstances, such as strong unanticipated increases in operational costs, construction of new data centers or churn in customer contracts, will negatively affect the Groups income. Customers individually have short-term contracts
that require notice before termination. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return.

The Group is a significant user of power and is exposed to increases in power prices. It uses independent consultants to monitor price changes
in electricity and seeks to negotiate fixed-price term agreements with the power supply companies, not more than for own use, where possible. The risk to the Group is mitigated by the contracted ability to recover power price increases through
adjustments in the pricing for power services.

Capital management

The Group has a capital base comprising its equity, including reserves, Senior Secured Notes, mortgage loans, finance leases and committed debt
facilities. It monitors its solvency ratio, financial leverage, funds from operations and net debt with reference to multiples of its previous 12 months Adjusted EBITDA levels. The Companys policy is to maintain a strong capital base and
access to capital in order to sustain the future development of the business and maintain shareholders, creditors and customers confidence.

The principal use of capital in the development of the business is through capital expansion projects for the deployment of further equipped
space in new and existing data centers. Major capital expansion projects are not initiated unless the Company has access to adequate capital resources to complete the project, and the projects are evaluated against target internal rates of return
before approval. Capital expansion projects are continually monitored before and after completion.

There were no changes in the
Groups approach to capital management during the year.



|5 | Information by segment
|- | ----------------------

Operating segments are to be identified on the basis of internal
reports about components of the Group that are regularly reviewed by the chief operating decision maker in order to allocate resources to the segments and to assess their performance. Management monitors the operating results of its business units
separately for the purpose of making decisions about performance assessments.

There are two segments: the first, The Big4,
comprises France, Germany, The Netherlands and the United Kingdom; the second, Rest of Europe, comprises Austria, Belgium, Denmark, Ireland, Spain, Sweden and Switzerland. Shared expenses, such as corporate management, general and
administrative expenses, loans and borrowings, and related expenses, and income tax assets and liabilities, are stated in Corporate and other.

The performance of the operating segments is primarily based on the measures of revenue and Adjusted EBITDA. Other information, except as
noted below, provided to the Board of Directors is measured in a manner consistent with that in the financial statements.



F-28



---

##### Table of Contents

The geographic information analyzes the Groups revenues and
non-current assets by country of domicile and other individually material countries. In presenting the geographic information, both revenue and assets excluding deferred tax assets and financial instruments
are based on geographiclocation.



|                |  |          |         |  |                                                                          |  |         |      |  |  |         |  |  |      |           |  |      |  |           |  |  |  |         | 
|--------------- |  | -------- | ------- |  | ------------------------------------------------------------------------ |  | ------- | ---- |  |  | ------- |  |  | ---- | --------- |  | ---- |  | --------- |  |  |  | ------- | 
|                |  | Revenues |         |  | Non-current assets excludingdeferred tax assets and financialinstruments | 
|                |  | 2016     |         |  | 2015                                                                     |  |         | 2014 |  |  | 2016    |  |  | 2015 |           |  | 2014 | 
|France          |  |          | 68,816  |  |                                                                          |  | 62,007  |      |  |  | 53,924  |  |  |      | 223,917   |  |      |  | 189,926   |  |  |  | 187,093 | 
|Germany         |  |          | 84,449  |  |                                                                          |  | 68,568  |      |  |  | 58,618  |  |  |      | 281,935   |  |      |  | 231,309   |  |  |  | 152,029 | 
|The Netherlands |  |          | 70,678  |  |                                                                          |  | 65,225  |      |  |  | 57,834  |  |  |      | 286,604   |  |      |  | 235,270   |  |  |  | 230,682 | 
|United Kingdom  |  |          | 45,831  |  |                                                                          |  | 51,114  |      |  |  | 43,835  |  |  |      | 81,156    |  |      |  | 96,747    |  |  |  | 92,332  | 
|Other countries |  |          | 152,014 |  |                                                                          |  | 139,646 |      |  |  | 126,413 |  |  |      | 316,644   |  |      |  | 272,771   |  |  |  | 255,080 | 
|                |  |          |         |  |                                                                          |  |         |      |  |  |         |  |  |      |           |  |      |  |           |  |  |  |         | 
|Total           |  |          | 421,788 |  |                                                                          |  | 386,560 |      |  |  | 340,624 |  |  |      | 1,190,256 |  |      |  | 1,026,023 |  |  |  | 917,216 | 
|                |  |          |         |  |                                                                          |  |         |      |  |  |         |  |  |      |           |  |      |  |           |  |  |  |         | 

Information by segment, 2016



|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|-------------------------------------------------- |  | ---------------- | -------- | - | ------------- |  | ------- | -------- |  |  | ------------------ | - |  | ----- | ------- | - |  |  | --------- | -
|                                                   |  | FR, DE, NLand UK |          |   | Rest ofEurope |  |         | Subtotal |  |  | Corporateand other |   |  | Total |        
|                                                   |  | (000)          |         
|Recurring revenue                                  |  |                  | 256,004  |   |               |  | 143,954 |          |  |  | 399,958            |   |  |       |        |   |  |  | 399,958   |  
|Non-recurring revenue                              |  |                  | 13,770   |   |               |  | 8,060   |          |  |  | 21,830             |   |  |       |        |   |  |  | 21,830    |  
|Total revenue                                      |  |                  | 269,774  |   |               |  | 152,014 |          |  |  | 421,788            |   |  |       |        |   |  |  | 421,788   |  
|Cost of sales                                      |  |                  | (100,921 | ) |               |  | (51,769 | )        |  |  | (152,690           | ) |  |       | (9,878  | ) |  |  | (162,568  | )
|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|Gross profit/(loss)                                |  |                  | 168,853  |   |               |  | 100,245 |          |  |  | 269,098            |   |  |       | (9,878  | ) |  |  | 259,220   |  
|Other income                                       |  |                  | 333      |   |               |  |        |          |  |  | 333                |   |  |       |        |   |  |  | 333       |  
|Sales and marketing costs                          |  |                  | (8,390   | ) |               |  | (5,209  | )        |  |  | (13,599            | ) |  |       | (16,342 | ) |  |  | (29,941   | )
|General and administrative costs                   |  |                  | (73,238  | ) |               |  | (32,632 | )        |  |  | (105,870           | ) |  |       | (31,140 | ) |  |  | (137,010  | )
|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|Operating income                                   |  |                  | 87,558   |   |               |  | 62,404  |          |  |  | 149,962            |   |  |       | (57,360 | ) |  |  | 92,602    |  
|Net Finance expense                                |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  | (36,269   | )
|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|Profit before taxation                             |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  | 56,333    |  
|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|Total assets                                       |  |                  | 990,406  |   |               |  | 363,444 |          |  |  | 1,353,850          |   |  |       | 128,815 |   |  |  | 1,482,665 |  
|Total liabilities                                  |  |                  | 202,330  |   |               |  | 73,613  |          |  |  | 275,943            |   |  |       | 657,953 |   |  |  | 933,896   |  
|Capital expenditures, including intangible assets* |  |                  | (170,707 | ) |               |  | (69,650 | )        |  |  | (240,357           | ) |  |       | (10,521 | ) |  |  | (250,878  | )
|Depreciation, amortization and impairments         |  |                  | 60,128   |   |               |  | 25,371  |          |  |  | 85,499             |   |  |       | 4,336   |   |  |  | 89,835    |  
|Adjusted EBITDA(1)                                 |  |                  | 148,191  |   |               |  | 88,195  |          |  |  | 236,386            |   |  |       | (45,510 | ) |  |  | 190,876   |  
|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  



Note: * Capital expenditure, including intangible assets, represent payments to acquire property, plant and equipment and intangible assets, as
recorded in the consolidated statement of cash flows as Purchase of property, plant and equipment and Purchase of intangible assets respectively.



F-29



---

##### Table of Contents

Information by segment, 2015



|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|-------------------------------------------------- |  | ---------------- | -------- | - | ------------- |  | ------- | -------- |  |  | ------------------ | - |  | ----- | ------- | - |  |  | --------- | -
|                                                   |  | FR, DE, NLand UK |          |   | Rest ofEurope |  |         | Subtotal |  |  | Corporateand other |   |  | Total |        
|                                                   |  | (000)          |         
|Recurring revenue                                  |  |                  | 232,624  |   |               |  | 132,551 |          |  |  | 365,175            |   |  |       |        |   |  |  | 365,175   |  
|Non-recurring revenue                              |  |                  | 14,290   |   |               |  | 7,095   |          |  |  | 21,385             |   |  |       |        |   |  |  | 21,385    |  
|Total revenue                                      |  |                  | 246,914  |   |               |  | 139,646 |          |  |  | 386,560            |   |  |       |        |   |  |  | 386,560   |  
|Cost of sales                                      |  |                  | (93,311  | ) |               |  | (49,440 | )        |  |  | (142,751           | ) |  |       | (8,862  | ) |  |  | (151,613  | )
|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|Gross profit/(loss)                                |  |                  | 153,603  |   |               |  | 90,206  |          |  |  | 243,809            |   |  |       | (8,862  | ) |  |  | 234,947   |  
|Other income                                       |  |                  | 365      |   |               |  |        |          |  |  | 365                |   |  |       | 20,923  |   |  |  | 21,288    |  
|Sales and marketing costs                          |  |                  | (7,925   | ) |               |  | (5,145  | )        |  |  | (13,070            | ) |  |       | (15,147 | ) |  |  | (28,217   | )
|General and administrative costs                   |  |                  | (62,828  | ) |               |  | (30,687 | )        |  |  | (93,515            | ) |  |       | (38,990 | ) |  |  | (132,505  | )
|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|Operating income                                   |  |                  | 83,215   |   |               |  | 54,374  |          |  |  | 137,589            |   |  |       | (42,076 | ) |  |  | 95,513    |  
|Net Finance expense                                |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  | (29,022   | )
|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|Profit before taxation                             |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  | 66,491    |  
|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|Total assets                                       |  |                  | 878,568  |   |               |  | 309,218 |          |  |  | 1,187,786          |   |  |       | 64,278  |   |  |  | 1,252,064 |  
|Total liabilities                                  |  |                  | 196,996  |   |               |  | 54,396  |          |  |  | 251,392            |   |  |       | 493,255 |   |  |  | 744,647   |  
|Capital expenditures, including intangible assets* |  |                  | (131,812 | ) |               |  | (55,004 | )        |  |  | (186,816           | ) |  |       | (5,820  | ) |  |  | (192,636  | )
|Depreciation, amortization and impairments         |  |                  | 50,317   |   |               |  | 23,688  |          |  |  | 74,005             |   |  |       | 4,224   |   |  |  | 78,229    |  
|Adjusted EBITDA(1)                                 |  |                  | 134,328  |   |               |  | 78,868  |          |  |  | 213,196            |   |  |       | (41,920 | ) |  |  | 171,276   |  
|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  

Information by segment, 2014

|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|-------------------------------------------------- |  | ---------------- | -------- | - | ------------- |  | ------- | -------- |  |  | ------------------ | - |  | ----- | ------- | - |  |  | --------- | -
|                                                   |  | FR, DE, NLand UK |          |   | Rest ofEurope |  |         | Subtotal |  |  | Corporateand other |   |  | Total |        
|                                                   |  | (000)          |         
|Recurring revenue                                  |  |                  | 200,603  |   |               |  | 118,581 |          |  |  | 319,184            |   |  |       |        |   |  |  | 319,184   |  
|Non-recurring revenue                              |  |                  | 13,608   |   |               |  | 7,832   |          |  |  | 21,440             |   |  |       |        |   |  |  | 21,440    |  
|Total revenue                                      |  |                  | 214,211  |   |               |  | 126,413 |          |  |  | 340,624            |   |  |       |        |   |  |  | 340,624   |  
|Cost of sales                                      |  |                  | (83,844  | ) |               |  | (47,947 | )        |  |  | (131,791           | ) |  |       | (7,284  | ) |  |  | (139,075  | )
|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|Gross profit/(loss)                                |  |                  | 130,367  |   |               |  | 78,466  |          |  |  | 208,833            |   |  |       | (7,284  | ) |  |  | 201,549   |  
|Other income                                       |  |                  | 271      |   |               |  |        |          |  |  | 271                |   |  |       |        |   |  |  | 271       |  
|Sales and marketing costs                          |  |                  | (7,599   | ) |               |  | (5,308  | )        |  |  | (12,907            | ) |  |       | (11,644 | ) |  |  | (24,551   | )
|General and administrative costs                   |  |                  | (50,001  | ) |               |  | (25,359 | )        |  |  | (75,360            | ) |  |       | (23,524 | ) |  |  | (98,884   | )
|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|Operating income                                   |  |                  | 73,038   |   |               |  | 47,799  |          |  |  | 120,837            |   |  |       | (42,452 | ) |  |  | 78,385    |  
|Net Finance expense                                |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  | (27,876   | )
|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|Profit before taxation                             |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  | 50,509    |  
|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  
|Total assets                                       |  |                  | 804,537  |   |               |  | 290,455 |          |  |  | 1,094,992          |   |  |       | 78,111  |   |  |  | 1,173,103 |  
|Total liabilities                                  |  |                  | 166,250  |   |               |  | 73,448  |          |  |  | 239,698            |   |  |       | 497,260 |   |  |  | 736,958   |  
|Capital expenditures, including intangible assets* |  |                  | (150,224 | ) |               |  | (60,436 | )        |  |  | (210,660           | ) |  |       | (5,617  | ) |  |  | (216,277  | )
|Depreciation, amortization and impairments         |  |                  | 40,129   |   |               |  | 18,514  |          |  |  | 58,643             |   |  |       | 3,534   |   |  |  | 62,177    |  
|Adjusted EBITDA(1)                                 |  |                  | 113,409  |   |               |  | 67,273  |          |  |  | 180,682            |   |  |       | (34,295 | ) |  |  | 146,387   |  
|                                                   |  |                  |          |   |               |  |         |          |  |  |                    |   |  |       |         |   |  |  |           |  



Note: *Capital expenditure, including intangible assets, represent payments to acquire property, plant and equipment and intangible assets, as
recorded in the consolidated statement of cash flows as Purchase of property, plant and equipment and Purchase of intangible assets respectively.



F-30



---

##### Table of Contents

Reconciliation to Adjusted EBITDA

Consolidated



|                                                                |  |         |         |   |      |  |         |      |  |  |         |  
|--------------------------------------------------------------- |  | ------- | ------- | - | ---- |  | ------- | ---- |  |  | ------- | -
|                                                                |  | 2016    |         |   | 2015 |  |         | 2014 | 
|                                                                |  | (000) |        
|Net income                                                      |  |         | 39,883  |   |      |  | 48,566  |      |  |  | 35,060  |  
|Income tax expense                                              |  |         | 16,450  |   |      |  | 17,925  |      |  |  | 15,449  |  
|                                                                |  |         |         |   |      |  |         |      |  |  |         |  
|Profit before taxation                                          |  |         | 56,333  |   |      |  | 66,491  |      |  |  | 50,509  |  
|Finance income                                                  |  |         | (1,206  | ) |      |  | (5,742  | )    |  |  | (890    | )
|Finance expense                                                 |  |         | 37,475  |   |      |  | 34,764  |      |  |  | 28,766  |  
|                                                                |  |         |         |   |      |  |         |      |  |  |         |  
|Operating income                                                |  |         | 92,602  |   |      |  | 95,513  |      |  |  | 78,385  |  
|Depreciation, amortization and impairments                      |  |         | 89,835  |   |      |  | 78,229  |      |  |  | 62,177  |  
|                                                                |  |         |         |   |      |  |         |      |  |  |         |  
|EBITDA(1)                                                       |  |         | 182,437 |   |      |  | 173,742 |      |  |  | 140,562 |  
|Share-based payments                                            |  |         | 6,343   |   |      |  | 7,161   |      |  |  | 6,576   |  
|(Increase)/decrease in provision for onerous lease contracts(4) |  |         |        |   |      |  | (184    | )    |  |  | (805    | )
|M&A transaction break fee
income(2)                             |  |         |        |   |      |  | (20,923 | )    |  |  |        |  
|M&A transaction costs(3)                                        |  |         | 2,429   |   |      |  | 11,845  |      |  |  | 325     |  
|Income from sub-leases on unused data center sites(5)           |  |         | (95     | ) |      |  | (365    | )    |  |  | (271    | )
|Increase/(decrease) in provision for site
restoration(6)        |  |         | (238    | ) |      |  |        |      |  |  |        |  
|                                                                |  |         |         |   |      |  |         |      |  |  |         |  
|Adjusted EBITDA(1)                                              |  |         | 190,876 |   |      |  | 171,276 |      |  |  | 146,387 |  
|                                                                |  |         |         |   |      |  |         |      |  |  |         |  

France, Germany, The Netherlands and UK



|                                                                |  |         |         |   |      |  |         |      |  |  |         |  
|--------------------------------------------------------------- |  | ------- | ------- | - | ---- |  | ------- | ---- |  |  | ------- | -
|                                                                |  | 2016    |         |   | 2015 |  |         | 2014 | 
|                                                                |  | (000) |        
|Operating income                                                |  |         | 87,558  |   |      |  | 83,215  |      |  |  | 73,038  |  
|Depreciation, amortization and impairments                      |  |         | 60,128  |   |      |  | 50,317  |      |  |  | 40,129  |  
|                                                                |  |         |         |   |      |  |         |      |  |  |         |  
|EBITDA(1)                                                       |  |         | 147,686 |   |      |  | 133,532 |      |  |  | 113,167 |  
|Share-based payments                                            |  |         | 838     |   |      |  | 1,345   |      |  |  | 1,318   |  
|(Increase)/decrease in provision for onerous lease contracts(4) |  |         |        |   |      |  | (184    | )    |  |  | (805    | )
|Income from sub-leases on unused data center sites(5)           |  |         | (95     | ) |      |  | (365    | )    |  |  | (271    | )
|Increase/(decrease) in provision for site
restoration(6)        |  |         | (238    | ) |      |  |        |      |  |  |        |  
|                                                                |  |         |         |   |      |  |         |      |  |  |         |  
|Adjusted EBITDA(1)                                              |  |         | 148,191 |   |      |  | 134,328 |      |  |  | 113,409 |  
|                                                                |  |         |         |   |      |  |         |      |  |  |         |  

Rest of Europe



|                                           |  |         |        |  |      |  |        |      |  |  |        | 
|------------------------------------------ |  | ------- | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                                           |  | 2016    |        |  | 2015 |  |        | 2014 | 
|                                           |  | (000) |       
|Operating income                           |  |         | 62,404 |  |      |  | 54,374 |      |  |  | 47,799 | 
|Depreciation, amortization and impairments |  |         | 25,371 |  |      |  | 23,688 |      |  |  | 18,514 | 
|                                           |  |         |        |  |      |  |        |      |  |  |        | 
|EBITDA(1)                                  |  |         | 87,775 |  |      |  | 78,062 |      |  |  | 66,313 | 
|Share-based payments                       |  |         | 420    |  |      |  | 806    |      |  |  | 960    | 
|                                           |  |         |        |  |      |  |        |      |  |  |        | 
|Adjusted EBITDA(1)                         |  |         | 88,195 |  |      |  | 78,868 |      |  |  | 67,273 | 
|                                           |  |         |        |  |      |  |        |      |  |  |        | 



F-31



---

##### Table of Contents

Corporate and other



|                                           |  |         |         |   |      |  |         |      |  |  |         |  
|------------------------------------------ |  | ------- | ------- | - | ---- |  | ------- | ---- |  |  | ------- | -
|                                           |  | 2016    |         |   | 2015 |  |         | 2014 | 
|                                           |  | (000) |        
|Operating income                           |  |         | (57,360 | ) |      |  | (42,076 | )    |  |  | (42,452 | )
|Depreciation, amortization and impairments |  |         | 4,336   |   |      |  | 4,224   |      |  |  | 3,534   |  
|                                           |  |         |         |   |      |  |         |      |  |  |         |  
|EBITDA(1)                                  |  |         | (53,024 | ) |      |  | (37,852 | )    |  |  | (38,918 | )
|Share-based payments                       |  |         | 5,085   |   |      |  | 5,010   |      |  |  | 4,298   |  
|M&A transaction break fee
income(2)        |  |         |        |   |      |  | (20,923 | )    |  |  |        |  
|M&A transaction costs(3)                   |  |         | 2,429   |   |      |  | 11,845  |      |  |  | 325     |  
|                                           |  |         |         |   |      |  |         |      |  |  |         |  
|Adjusted EBITDA(1)                         |  |         | (45,510 | ) |      |  | (41,920 | )    |  |  | (34,295 | )
|                                           |  |         |         |   |      |  |         |      |  |  |         |  



Notes:

|1) | EBITDA and Adjusted EBITDA are non-IFRS financial measures within the meaning of the rules of the SEC. See
Non-IFRS Financial Measures for more information on these measures, including why we believe that these supplemental measures are useful, and the limitations on the use of these supplemental
measures.
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|2) | M&A transaction break fee income represents the cash break up fee received following the termination of the Implementation Agreement in May 2015. This fee was included in Other income.
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|3) | M&A transaction costs are costs associated with the evaluation, diligence and conclusion or termination of merger or acquisition activity. These costs are included in General and administrative
costs. In the year ended 31 December 2016, M&A transaction costs included 2.4 million related to other activity including the evaluation of potential asset acquisitions.
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4) | Increase/(decrease) in provision for onerous lease contracts relates to those contracts in which we expect losses to be incurred in respect of unused data center sites over the term of the lease contract.
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|5) | Income from sub-leases of unused data center sites represents the income on sub-lease of portions of unused data center sites
to third parties. This income is treated as Other income.
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|6) | Increase/(decrease) in provision for site restoration represents income related to the termination of data center sites. This item is treated as Other income.
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------

In 2016, the share-based payments include an amount of 238,000 related to taxes and social security charges (2015: 643,000, 2014:
92,000).



|6 | Revenue
|- | -------

Revenue consists of colocation revenue derived from the rendering of data
center services, which includes customer installation services and equipment sales.



|7 | General and administrative costs
|- | --------------------------------

The general and administrative costs consist of the
following components:



|                                                             |  |         |         |  |      |  |         |      |  |  |        |  
|------------------------------------------------------------ |  | ------- | ------- |  | ---- |  | ------- | ---- |  |  | ------ | -
|                                                             |  | 2016    |         |  | 2015 |  |         | 2014 | 
|                                                             |  | (000) |        
|Depreciation, amortization and impairments                   |  |         | 89,835  |  |      |  | 78,229  |      |  |  | 62,177 |  
|Share-based payments                                         |  |         | 6,343   |  |      |  | 7,161   |      |  |  | 6,576  |  
|(Increase)/decrease in provision for onerous lease contracts |  |         |        |  |      |  | (184    | )    |  |  | (805   | )
|M&A transaction costs                                        |  |         | 2,429   |  |      |  | 11,845  |      |  |  | 325    |  
|Other general and administrative costs                       |  |         | 38,403  |  |      |  | 35,454  |      |  |  | 30,611 |  
|                                                             |  |         |         |  |      |  |         |      |  |  |        |  
|                                                             |  |         | 137,010 |  |      |  | 132,505 |      |  |  | 98,884 |  
|                                                             |  |         |         |  |      |  |         |      |  |  |        |  



F-32



---

##### Table of Contents

|8 | Employee benefit expenses
|- | -------------------------

The Group employed an average of 574 employees (full-time
equivalents) during 2016 (2015: 515 and 2014: 478). Costs incurred in respect of these employees were:



|                                                    |  |         |        |  |      |  |        |      |  |  |        | 
|--------------------------------------------------- |  | ------- | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                                                    |  | 2016    |        |  | 2015 |  |        | 2014 | 
|                                                    |  | (000) |       
|Salaries and bonuses                                |  |         | 44,556 |  |      |  | 42,333 |      |  |  | 36,489 | 
|Social security charges                             |  |         | 7,113  |  |      |  | 6,780  |      |  |  | 6,025  | 
|Contributions to defined contribution pension plans |  |         | 2,571  |  |      |  | 2,273  |      |  |  | 2,178  | 
|Other personnel-related costs                       |  |         | 7,844  |  |      |  | 7,518  |      |  |  | 7,355  | 
|Share-based payments                                |  |         | 6,343  |  |      |  | 7,161  |      |  |  | 6,576  | 
|                                                    |  |         |        |  |      |  |        |      |  |  |        | 
|                                                    |  |         | 68,427 |  |      |  | 66,065 |      |  |  | 58,623 | 
|                                                    |  |         |        |  |      |  |        |      |  |  |        | 

The following income statement line items include employee benefit expenses of:



|                                 |  |         |        |  |      |  |        |      |  |  |        | 
|-------------------------------- |  | ------- | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                                 |  | 2016    |        |  | 2015 |  |        | 2014 | 
|                                 |  | (000) |       
|Costs of sales                   |  |         | 26,539 |  |      |  | 24,930 |      |  |  | 22,282 | 
|Sales and marketing costs        |  |         | 19,274 |  |      |  | 17,580 |      |  |  | 15,266 | 
|General and administrative costs |  |         | 22,614 |  |      |  | 23,555 |      |  |  | 21,075 | 
|                                 |  |         |        |  |      |  |        |      |  |  |        | 
|                                 |  |         | 68,427 |  |      |  | 66,065 |      |  |  | 58,623 | 
|                                 |  |         |        |  |      |  |        |      |  |  |        | 

The Group operates a defined contribution scheme for the majority of its employees. The contributions are made
in accordance with the scheme and are expensed in the income statement as incurred.



F-33



---

##### Table of Contents

|9 | Finance income and expense
|- | --------------------------



|                                                               |  |         |         |   |      |  |         |      |  |  |         |  
|-------------------------------------------------------------- |  | ------- | ------- | - | ---- |  | ------- | ---- |  |  | ------- | -
|                                                               |  | 2016    |         |   | 2015 |  |         | 2014 | 
|                                                               |  | (000) |        
|Profit from sale of financial asset                            |  |         | 281     |   |      |  | 2,289   |      |  |  |        |  
|Bank and other interest                                        |  |         | 135     |   |      |  | 82      |      |  |  | 496     |  
|Bond premium and fees in income                                |  |         | 790     |   |      |  |        |      |  |  |        |  
|Net foreign currency exchange gain                             |  |         |        |   |      |  | 923     |      |  |  | 394     |  
|                                                               |  |         |         |   |      |  |         |      |  |  |         |  
|Finance income                                                 |  |         | 1,206   |   |      |  | 3,294   |      |  |  | 890     |  
|                                                               |  |         |         |   |      |  |         |      |  |  |         |  
|Interest expense on Senior Secured Notes, bank and other loans |  |         | (33,095 | ) |      |  | (27,094 | )    |  |  | (23,783 | )
|Interest expense on finance leases                             |  |         | (1,750  | ) |      |  | (3,139  | )    |  |  | (2,314  | )
|Interest expense on provision for onerous lease contracts      |  |         | (16     | ) |      |  | (115    | )    |  |  | (230    | )
|Other financial expenses                                       |  |         | (1,765  | ) |      |  | (1,968  | )    |  |  | (2,439  | )
|Net foreign currency exchanges loss                            |  |         | (849    | ) |      |  |        |      |  |  |        |  
|                                                               |  |         |         |   |      |  |         |      |  |  |         |  
|Finance expense                                                |  |         | (37,475 | ) |      |  | (32,316 | )    |  |  | (28,766 | )
|                                                               |  |         |         |   |      |  |         |      |  |  |         |  
|Net finance expense                                            |  |         | (36,269 | ) |      |  | (29,022 | )    |  |  | (27,876 | )
|                                                               |  |         |         |   |      |  |         |      |  |  |         |  

Profit from sale of financial asset reflects the profit realized on the sale of the Groups
shares in iStreamPlanet Co. The second payment related to this sale, was recognized and received during 2016.

In 2016, the Interest
expense on Senior Secured Notes, bank and other loans increased principally as result of the impact of the Additional Notes issued in 2016.

In 2015, the Interest expense on Senior Secured Notes, bank and other loans increased principally as result of the full year
impact of the Additional Notes issued in 2014, and lower capitalized borrowing costs.

Interest expense on finance leases
decreased compared with 2015, following a 1.4 million adjustment reducing the finance lease obligations.

Interest
expense on provision for onerous lease contracts related to the unwinding of the discount rate used to calculate the Provision for onerous lease contracts.



F-34



---

##### Table of Contents

|10 | Income taxes
|-- | ------------

Income tax (expense)/benefit



|                                   |  |         |         |   |      |  |         |      |  |  |         |  
|---------------------------------- |  | ------- | ------- | - | ---- |  | ------- | ---- |  |  | ------- | -
|                                   |  | 2016    |         |   | 2015 |  |         | 2014 | 
|                                   |  | (000) |        
|Current taxes                      |  |         | (11,421 | ) |      |  | (9,170  | )    |  |  | (8,947  | )
|Deferred taxes                     |  |         | (5,029  | ) |      |  | (8,755  | )    |  |  | (6,502  | )
|                                   |  |         |         |   |      |  |         |      |  |  |         |  
|Total income tax (expense)/benefit |  |         | (16,450 | ) |      |  | (17,925 | )    |  |  | (15,449 | )
|                                   |  |         |         |   |      |  |         |      |  |  |         |  

Reconciliation of effective tax rate

A reconciliation between income taxes calculated at the Dutch statutory tax rate of 25% in 2016 (25% in 2015 and 2014) and the actual tax
benefit/(expense) with an effective tax rate of 29.1% (27.0% in 2015 and 30.6% in 2014) is as follows:



|                                                    |  |         |         |   |      |  |         |      |  |  |         |  
|--------------------------------------------------- |  | ------- | ------- | - | ---- |  | ------- | ---- |  |  | ------- | -
|                                                    |  | 2016    |         |   | 2015 |  |         | 2014 | 
|                                                    |  | (000) |        
|Net income                                          |  |         | 39,883  |   |      |  | 48,566  |      |  |  | 35,060  |  
|Income tax expense                                  |  |         | 16,450  |   |      |  | 17,925  |      |  |  | 15,449  |  
|                                                    |  |         |         |   |      |  |         |      |  |  |         |  
|Profit before taxation                              |  |         | 56,333  |   |      |  | 66,491  |      |  |  | 50,509  |  
|                                                    |  |         |         |   |      |  |         |      |  |  |         |  
|Income tax using Companys domestic tax rate        |  |         | (14,083 | ) |      |  | (16,623 | )    |  |  | (12,627 | )
|Effect of tax rates in foreign jurisdictions        |  |         | (844    | ) |      |  | (407    | )    |  |  | (1,033  | )
|Change in tax rate and legislation                  |  |         | 367     |   |      |  | 548     |      |  |  | 355     |  
|Non-deductible expenses                             |  |         | (1,811  | ) |      |  | (1,948  | )    |  |  | (1,617  | )
|Recognition of previously unrecognized tax losses   |  |         | 147     |   |      |  | 734     |      |  |  |        |  
|Prior year adjustments included in current year tax |  |         | (354    | ) |      |  | 211     |      |  |  | (25     | )
|Other                                               |  |         | 128     |   |      |  | (440    | )    |  |  | (502    | )
|                                                    |  |         |         |   |      |  |         |      |  |  |         |  
|Income tax expense                                  |  |         | (16,450 | ) |      |  | (17,925 | )    |  |  | (15,449 | )
|                                                    |  |         |         |   |      |  |         |      |  |  |         |  



F-35



---

##### Table of Contents

Recognized deferred tax assets/(liabilities)

The movement in recognized deferred tax assets during the year is as follows:



|                                       |  |                                            |        |   |                           |  |        |       |  |  |                       |   |  |       |        |   |  |  |         |  
|-------------------------------------- |  | ------------------------------------------ | ------ | - | ------------------------- |  | ------ | ----- |  |  | --------------------- | - |  | ----- | ------ | - |  |  | ------- | -
|                                       |  | Property,plant andequipment,andIntangibles |        |   | Provisiononerouscontracts |  |        | Other |  |  | Tax losscarry-forward |   |  | Total |       
|                                       |  | (000)                                    |       
|1 January 2014                         |  |                                            | 13,991 |   |                           |  | 2,617  |       |  |  | 5,469                 |   |  |       | 24,515 |   |  |  | 46,592  |  
|Recognized in profit/(loss) for 2014   |  |                                            | (565   | ) |                           |  | (1,042 | )     |  |  | (2,130                | ) |  |       | (1,214 | ) |  |  | (4,951  | )
|Recognized in equity                   |  |                                            |       |   |                           |  |       |       |  |  |                      |   |  |       | (367   | ) |  |  | (367    | )
|Effects of movements in exchange rates |  |                                            | 2      |   |                           |  |       |       |  |  | 5                     |   |  |       | (22    | ) |  |  | (15     | )
|                                       |  |                                            |        |   |                           |  |        |       |  |  |                       |   |  |       |        |   |  |  |         |  
|31 December 2014                       |  |                                            | 13,428 |   |                           |  | 1,575  |       |  |  | 3,344                 |   |  |       | 22,912 |   |  |  | 41,259  |  
|Recognized in profit/(loss) for 2015   |  |                                            | (858   | ) |                           |  | (1,091 | )     |  |  | (1,021                | ) |  |       | (3,553 | ) |  |  | (6,523  | )
|Recognized in equity                   |  |                                            |       |   |                           |  |       |       |  |  |                      |   |  |       | (1,224 | ) |  |  | (1,224  | )
|Effects of movements in exchange rates |  |                                            | 11     |   |                           |  |       |       |  |  |                      |   |  |       | 221    |   |  |  | 232     |  
|                                       |  |                                            |        |   |                           |  |        |       |  |  |                       |   |  |       |        |   |  |  |         |  
|31 December 2015                       |  |                                            | 12,581 |   |                           |  | 484    |       |  |  | 2,323                 |   |  |       | 18,356 |   |  |  | 33,744  |  
|Recognized in profit/(loss) for 2016   |  |                                            | (348   | ) |                           |  | (484   | )     |  |  | (562                  | ) |  |       | (3,071 | ) |  |  | (4,465  | )
|Recognized in equity                   |  |                                            |       |   |                           |  |       |       |  |  |                      |   |  |       | 1,835  |   |  |  | 1,835   |  
|Effects of movements in exchange rates |  |                                            | 1      |   |                           |  |       |       |  |  | 1                     |   |  |       | (123   | ) |  |  | (121    | )
|                                       |  |                                            |        |   |                           |  |        |       |  |  |                       |   |  |       |        |   |  |  |         |  
|31 December 2016                       |  |                                            | 12,234 |   |                           |  |       |       |  |  | 1,762                 |   |  |       | 16,997 |   |  |  | 30,993  |  
|                                       |  |                                            |        |   |                           |  |        |       |  |  |                       |   |  |       |        |   |  |  |         |  
|Offset deferred tax liabilities        |  |                                            | (7,591 | ) |                           |  |       |       |  |  | (1,628                | ) |  |       | (1,404 | ) |  |  | (10,623 | )
|                                       |  |                                            |        |   |                           |  |        |       |  |  |                       |   |  |       |        |   |  |  |         |  
|Net deferred tax assets/(liabilities)  |  |                                            | 4,643  |   |                           |  |       |       |  |  | 134                   |   |  |       | 15,593 |   |  |  | 20,370  |  
|                                       |  |                                            |        |   |                           |  |        |       |  |  |                       |   |  |       |        |   |  |  |         |  

The movement in recognized deferred tax liabilities during the year is as follows:



|                                       |  |                                            |         |   |                           |  |   |       |  |  |                       |   |  |       |       |  |  |  |         |  
|-------------------------------------- |  | ------------------------------------------ | ------- | - | ------------------------- |  | - | ----- |  |  | --------------------- | - |  | ----- | ----- |  |  |  | ------- | -
|                                       |  | Property,plant andequipment,andIntangibles |         |   | Provisiononerouscontracts |  |   | Other |  |  | Tax losscarry-forward |   |  | Total |      
|                                       |  | (000)                                    |        
|1 January 2014                         |  |                                            | (15,600 | ) |                           |  |  |       |  |  | (693                  | ) |  |       |      |  |  |  | (16,293 | )
|Recognized in profit/(loss) for 2014   |  |                                            | (1,138  | ) |                           |  |  |       |  |  | (413                  | ) |  |       |      |  |  |  | (1,551  | )
|Effects of movements in exchange rates |  |                                            | (380    | ) |                           |  |  |       |  |  |                      |   |  |       |      |  |  |  | (380    | )
|                                       |  |                                            |         |   |                           |  |   |       |  |  |                       |   |  |       |       |  |  |  |         |  
|31 December 2014                       |  |                                            | (17,118 | ) |                           |  |  |       |  |  | (1,106                | ) |  |       |      |  |  |  | (18,224 | )
|Recognized in profit/(loss) for 2015   |  |                                            | (2,038  | ) |                           |  |  |       |  |  | (194                  | ) |  |       |      |  |  |  | (2,232  | )
|Effects of movements in exchange rates |  |                                            | (215    | ) |                           |  |  |       |  |  |                      |   |  |       |      |  |  |  | (215    | )
|                                       |  |                                            |         |   |                           |  |   |       |  |  |                       |   |  |       |       |  |  |  |         |  
|31 December 2015                       |  |                                            | (19,371 | ) |                           |  |  |       |  |  | (1,300                | ) |  |       |      |  |  |  | (20,671 | )
|                                       |  |                                            |         |   |                           |  |   |       |  |  |                       |   |  |       |       |  |  |  |         |  
|Recognized in profit/(loss) for 2016   |  |                                            | (508    | ) |                           |  |  |       |  |  | (56                   | ) |  |       |      |  |  |  | (564    | )
|Effects of movements in exchange rates |  |                                            | 984     |   |                           |  |  |       |  |  |                      |   |  |       |      |  |  |  | 984     |  
|                                       |  |                                            |         |   |                           |  |   |       |  |  |                       |   |  |       |       |  |  |  |         |  
|31 December 2016                       |  |                                            | (18,895 | ) |                           |  |  |       |  |  | (1,356                | ) |  |       |      |  |  |  | (20,251 | )
|                                       |  |                                            |         |   |                           |  |   |       |  |  |                       |   |  |       |       |  |  |  |         |  
|Offset deferred tax assets             |  |                                            | 7,591   |   |                           |  |  |       |  |  | 1,628                 |   |  |       | 1,404 |  |  |  | 10,623  |  
|                                       |  |                                            |         |   |                           |  |   |       |  |  |                       |   |  |       |       |  |  |  |         |  
|Net deferred tax assets/(liabilities)  |  |                                            | (11,304 | ) |                           |  |  |       |  |  | 272                   |   |  |       | 1,404 |  |  |  | (9,628  | )
|                                       |  |                                            |         |   |                           |  |   |       |  |  |                       |   |  |       |       |  |  |  |         |  



F-36



---

##### Table of Contents

The deferred tax assets and liabilities are presented as net amounts per tax jurisdiction as far
as the amounts can be offset.

The estimated utilization of carried-forward tax losses in future years is based on managements
forecasts of future profitability by tax jurisdiction.

The following net deferred tax assets have not been recognized:



|                                      |  |         |   |  |      |  |     |      |  |  |     | 
|------------------------------------- |  | ------- | - |  | ---- |  | --- | ---- |  |  | --- | 
|                                      |  | 2016    |   |  | 2015 |  |     | 2014 | 
|                                      |  | (000) |  
|Deductible temporary differences, net |  |         |  |  |      |  | 34  |      |  |  | 39  | 
|Tax losses                            |  |         |  |  |      |  | 180 |      |  |  | 787 | 
|                                      |  |         |   |  |      |  |     |      |  |  |     | 
|                                      |  |         |  |  |      |  | 214 |      |  |  | 826 | 
|                                      |  |         |   |  |      |  |     |      |  |  |     | 

The accumulated recognized and unrecognized tax losses expire as follows:



|                      |  |         |        |  |      |  |        |      |  |  |         | 
|--------------------- |  | ------- | ------ |  | ---- |  | ------ | ---- |  |  | ------- | 
|                      |  | 2016    |        |  | 2015 |  |        | 2014 | 
|                      |  | (000) |       
|Within one year       |  |         |       |  |      |  | 2,683  |      |  |  |        | 
|Between 1 and 5 years |  |         | 3,517  |  |      |  | 3,490  |      |  |  | 7,000   | 
|After 5 years         |  |         | 28,146 |  |      |  | 25,817 |      |  |  | 32,318  | 
|Unlimited             |  |         | 47,081 |  |      |  | 57,721 |      |  |  | 67,397  | 
|                      |  |         |        |  |      |  |        |      |  |  |         | 
|                      |  |         | 78,744 |  |      |  | 89,711 |      |  |  | 106,715 | 
|                      |  |         |        |  |      |  |        |      |  |  |         | 



F-37



---

##### Table of Contents

|11 | Property, plant and equipment
|-- | -----------------------------



|                                         |  |                           |         |   |                            |  |           |                          |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|---------------------------------------- |  | ------------------------- | ------- | - | -------------------------- |  | --------- | ------------------------ |  |  | ---------------------- | - |  | ------------------------ | --------- | - | ----- |  | ------- | - |  |  | --------- | -
|                                         |  | Freeholdland andbuildings |         |   | Infrastructureandequipment |  |           | Assets underconstruction |  |  | Totaldata centerassets |   |  | Officeequipmentand other |           |   | Total | 
|                                         |  |                           |         |   | (000)                    |  |           |                          | 
|Cost:                                    |  |                           |         |   |                            |  |           |                          |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at January 1, 2016                    |  |                           | 174,935 |   |                            |  | 1,127,883 |                          |  |  | 77,664                 |   |  |                          | 1,380,482 |   |       |  | 38,219  |   |  |  | 1,418,701 |  
|Additions                                |  |                           |        |   |                            |  | 64,369    |                          |  |  | 184,603                |   |  |                          | 248,972   |   |       |  | 9,274   |   |  |  | 258,246   |  
|Exchange differences                     |  |                           | 6       |   |                            |  | (17,010   | )                        |  |  | (2,454                 | ) |  |                          | (19,458   | ) |       |  | (501    | ) |  |  | (19,959   | )
|Disposals                                |  |                           |        |   |                            |  | (5,801    | )                        |  |  |                       |   |  |                          | (5,801    | ) |       |  | (231    | ) |  |  | (6,032    | )
|Transfers                                |  |                           | 1,480   |   |                            |  | 146,530   |                          |  |  | (148,010               | ) |  |                          |          |   |       |  |        |   |  |  |          |  
|                                         |  |                           |         |   |                            |  |           |                          |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at December 31, 2016                  |  |                           | 176,421 |   |                            |  | 1,315,971 |                          |  |  | 111,803                |   |  |                          | 1,604,195 |   |       |  | 46,761  |   |  |  | 1,650,956 |  
|Accumulated depreciation and impairment: |  |                           |         |   |                            |  |           |                          |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at January 1, 2016                    |  |                           | (12,652 | ) |                            |  | (385,095  | )                        |  |  |                       |   |  |                          | (397,747  | ) |       |  | (21,882 | ) |  |  | (419,629  | )
|Depreciation                             |  |                           | (3,584  | ) |                            |  | (78,680   | )                        |  |  |                       |   |  |                          | (82,264   | ) |       |  | (5,302  | ) |  |  | (87,566   | )
|Exchange differences                     |  |                           | (1      | ) |                            |  | 5,920     |                          |  |  |                       |   |  |                          | 5,919     |   |       |  | 319     |   |  |  | 6,238     |  
|Disposals                                |  |                           |        |   |                            |  | 5,801     |                          |  |  |                       |   |  |                          | 5,801     |   |       |  | 231     |   |  |  | 6,032     |  
|                                         |  |                           |         |   |                            |  |           |                          |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at December 31, 2016                  |  |                           | (16,237 | ) |                            |  | (452,054  | )                        |  |  |                       |   |  |                          | (468,291  | ) |       |  | (26,634 | ) |  |  | (494,925  | )
|Carrying amount as at December 31, 2016  |  |                           | 160,184 |   |                            |  | 863,917   |                          |  |  | 111,803                |   |  |                          | 1,135,904 |   |       |  | 20,127  |   |  |  | 1,156,031 |  
|                                         |  |                           |         |   |                            |  |           |                          |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|Cost:                                    |  |                           |         |   |                            |  |           |                          |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at January 1, 2015                    |  |                           | 168,505 |   |                            |  | 962,405   |                          |  |  | 74,758                 |   |  |                          | 1,205,668 |   |       |  | 29,951  |   |  |  | 1,235,619 |  
|Additions                                |  |                           | 6,437   |   |                            |  | 13,113    |                          |  |  | 140,637                |   |  |                          | 160,187   |   |       |  | 8,404   |   |  |  | 168,591   |  
|Exchange differences                     |  |                           | (7      | ) |                            |  | 14,889    |                          |  |  | 966                    |   |  |                          | 15,848    |   |       |  | 537     |   |  |  | 16,385    |  
|Disposals                                |  |                           |         |   |                            |  | (1,221    | )                        |  |  |                       |   |  |                          | (1,221    | ) |       |  | (673    | ) |  |  | (1,894    | )
|Transfers                                |  |                           |        |   |                            |  | 138,697   |                          |  |  | (138,697               | ) |  |                          |          |   |       |  |        |   |  |  |          |  
|                                         |  |                           |         |   |                            |  |           |                          |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at December 31, 2015                  |  |                           | 174,935 |   |                            |  | 1,127,883 |                          |  |  | 77,664                 |   |  |                          | 1,380,482 |   |       |  | 38,219  |   |  |  | 1,418,701 |  
|Accumulated depreciation and impairment: |  |                           |         |   |                            |  |           |                          |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at January 1, 2015                    |  |                           | (9,270  | ) |                            |  | (313,282  | )                        |  |  |                       |   |  |                          | (322,552  | ) |       |  | (17,883 | ) |  |  | (340,435  | )
|Depreciation                             |  |                           | (3,382  | ) |                            |  | (67,561   | )                        |  |  |                       |   |  |                          | (70,943   | ) |       |  | (4,333  | ) |  |  | (75,276   | )
|Exchange differences                     |  |                           |        |   |                            |  | (5,332    | )                        |  |  |                       |   |  |                          | (5,332    | ) |       |  | (321    | ) |  |  | (5,653    | )
|Disposals                                |  |                           |        |   |                            |  | 1,080     |                          |  |  |                       |   |  |                          | 1,080     |   |       |  | 655     |   |  |  | 1,735     |  
|                                         |  |                           |         |   |                            |  |           |                          |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at December 31, 2015                  |  |                           | (12,652 | ) |                            |  | (385,095  | )                        |  |  |                       |   |  |                          | (397,747  | ) |       |  | (21,882 | ) |  |  | (419,629  | )
|Carrying amount as at December 31, 2015  |  |                           | 162,283 |   |                            |  | 742,788   |                          |  |  | 77,664                 |   |  |                          | 982,735   |   |       |  | 16,337  |   |  |  | 999,072   |  
|                                         |  |                           |         |   |                            |  |           |                          |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|Cost:                                    |  |                           |         |   |                            |  |           |                          |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at January 1, 2014                    |  |                           | 103,715 |   |                            |  | 765,282   |                          |  |  | 87,213                 |   |  |                          | 956,210   |   |       |  | 31,028  |   |  |  | 987,238   |  
|Additions                                |  |                           | 53,597  |   |                            |  | 51,782    |                          |  |  | 141,042                |   |  |                          | 246,421   |   |       |  | 5,375   |   |  |  | 251,796   |  
|Exchange differences                     |  |                           | 6       |   |                            |  | 5,227     |                          |  |  | 364                    |   |  |                          | 5,597     |   |       |  | 179     |   |  |  | 5,776     |  
|Disposals                                |  |                           |         |   |                            |  | (2,560    | )                        |  |  |                       |   |  |                          | (2,560    | ) |       |  | (6,631  | ) |  |  | (9,191    | )
|Transfers                                |  |                           | 11,187  |   |                            |  | 142,674   |                          |  |  | (153,861               | ) |  |                          |          |   |       |  |        |   |  |  |          |  
|                                         |  |                           |         |   |                            |  |           |                          |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at December 31, 2014                  |  |                           | 168,505 |   |                            |  | 962,405   |                          |  |  | 74,758                 |   |  |                          | 1,205,668 |   |       |  | 29,951  |   |  |  | 1,235,619 |  
|Accumulated depreciation and impairment: |  |                           |         |   |                            |  |           |                          |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at January 1, 2014                    |  |                           | (7,308  | ) |                            |  | (260,012  | )                        |  |  |                       |   |  |                          | (267,320  | ) |       |  | (21,170 | ) |  |  | (288,490  | )
|Depreciation                             |  |                           | (1,962  | ) |                            |  | (53,907   | )                        |  |  |                       |   |  |                          | (55,869   | ) |       |  | (3,231  | ) |  |  | (59,100   | )
|Exchange differences                     |  |                           |        |   |                            |  | (1,533    | )                        |  |  |                       |   |  |                          | (1,533    | ) |       |  | (110    | ) |  |  | (1,643    | )
|Disposals                                |  |                           |        |   |                            |  | 2,170     |                          |  |  |                       |   |  |                          | 2,170     |   |       |  | 6,628   |   |  |  | 8,798     |  
|                                         |  |                           |         |   |                            |  |           |                          |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  
|As at December 31, 2014                  |  |                           | (9,270  | ) |                            |  | (313,282  | )                        |  |  |                       |   |  |                          | (322,552  | ) |       |  | (17,883 | ) |  |  | (340,435  | )
|Carrying amount as at December 31, 2014  |  |                           | 159,235 |   |                            |  | 649,123   |                          |  |  | 74,758                 |   |  |                          | 883,116   |   |       |  | 12,068  |   |  |  | 895,184   |  
|                                         |  |                           |         |   |                            |  |           |                          |  |  |                        |   |  |                          |           |   |       |  |         |   |  |  |           |  

On September 29, 2015, the Group entered into a contract to lease the properties related to the AMS8 data
center. The lease, which covers land and building, commenced during the third quarter of 2016. The land component has been treated as an operating lease, the building as a financial lease. As per December 31, 2016, the carrying value of the
building amounted to 17.7 million.

In November 2014, the Group agreed to purchase the VIE data center land and building for
18.7 million. The assets were previously accounted for as an operating lease. Upon entering into this purchase agreement, the lease



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was reported as a finance lease in accordance with IAS 17. In January 2015, the purchase transaction was effected. The purchase amount was paid in full and reported as a purchase of property,
plant and equipment within investing cash flow and the finance lease liability was released. As per December 31, 2016, the carrying value of the land amounted to 9,150,000 and the carrying value of the building amounted to
11,060,000.

In August 2014, the Group exercised its option to purchase the AMS7 data center land and building. The actual legal
transaction will become effective in 2023. As a result of this modification, in accordance with IAS17, as of August 2014, the lease, which was previously reported as an operating lease is reported as a financial lease. As per December 31, 2016,
the carrying amount of the land amounted to 5,800,000 and the carrying amount of the leased building amounted to 6,985,000.

In August 2014, the Group completed the 8.5 million transaction to purchase a data center campus in Marseille, France, owned by
Société Française du Radiotéléphone  SFR SA (SFR). As at December 31, 2016, the carrying amount of the land amounted to 638,000 and the carrying value of the building amounted to
6,434,000.

In January 2014, the Group completed the 11.4 million transaction to purchase the data center property in
Brussels, Belgium. As at December 31, 2016, the carrying amount of the land amounted to 4,171,000 and the carrying value of the building amounted to 7,683,000.

In December 2012, the Group exercised its option to purchase the PAR7 data center land. The actual legal transaction will become effective in
2019. As a result of this modification, in accordance with IAS17, as of December 20, 2012, the lease, which was previously reported as an operating lease is reported as a financial lease. Per 31 December 2016, the carrying amount of the
land amounted to 20,832,000. In addition, until 2014, the Group leased data center equipment under a number of finance lease agreements, with a carrying amount of 202,000 per December 31, 2013. In 2014, the lease agreement expired and
the ownership of these assets was transferred to the Group.

Capitalised interest relating to borrowing costs for 2016 amounted to
3,467,000 (2015: 2,638,000 and 2014: 3,604,000). The cash effect of the interest capitalized for 2016 amounted to 2,219,000, which is presented in the Statement of Cash Flows under Purchase of property, plant and
equipment (2015: 3,567,000 and 2014: 2,512,000).

As at December 31, 2016, the carrying value of freehold land
included in the category Freehold land and buildings amounted to 76,854,000 (2015: 76,854,000 and 2014: 70,497,000).

Depreciation of property, plant and equipment is disclosed as general and administrative cost in the consolidated statement of income.

At December 31, 2016, properties with a carrying value of 90,215,000 (2015: 71,799,000 and 2014: 55,614,000) were
subject to a registered debenture to secure mortgages (see Note 20). At December 31, 2016, properties with a carrying value of 51.3 million (2015: 33.9 million and 2014: 52.9 million) were subject to a finance lease
agreement (see Note 20).



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##### Table of Contents

|12 | Intangible assets
|-- | -----------------



|                                         |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |         |  
|---------------------------------------- |  | ---------------- | ------ | - | -------- |  | ------ | ----- |  |  | ------ | - |  |  | ------- | -
|                                         |  | Power gridrights |        |   | Software |  |        | Other |  |  | Total  |  
|                                         |  | (000)          |       
|Cost:                                    |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |         |  
|As at January 1, 2016                    |  |                  | 16,091 |   |          |  | 16,322 |       |  |  | 2,165  |   |  |  | 34,578  |  
|Additions                                |  |                  | 3,647  |   |          |  | 5,282  |       |  |  |       |   |  |  | 8,929   |  
|Exchange differences                     |  |                  | (1,156 | ) |          |  | (85    | )     |  |  |       |   |  |  | (1,241  | )
|Disposals                                |  |                  |       |   |          |  |       |       |  |  |       |   |  |  |        |  
|                                         |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |         |  
|As at December 31, 2016                  |  |                  | 18,582 |   |          |  | 21,519 |       |  |  | 2,165  |   |  |  | 42,266  |  
|Accumulated amortization and impairment: |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |         |  
|As at January 1, 2016                    |  |                  | (1,688 | ) |          |  | (8,285 | )     |  |  | (1,411 | ) |  |  | (11,384 | )
|Amortization                             |  |                  | (544   | ) |          |  | (1,612 | )     |  |  | (113   | ) |  |  | (2,269  | )
|Exchange differences                     |  |                  |       |   |          |  | 81     |       |  |  |       |   |  |  | 81      |  
|Disposals                                |  |                  |       |   |          |  |       |       |  |  |       |   |  |  |        |  
|                                         |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |         |  
|As at December 31, 2016                  |  |                  | (2,232 | ) |          |  | (9,816 | )     |  |  | (1,524 | ) |  |  | (13,572 | )
|Carrying amount as at December 31, 2016  |  |                  | 16,350 |   |          |  | 11,703 |       |  |  | 641    |   |  |  | 28,694  |  
|                                         |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |         |  
|Cost:                                    |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |         |  
|As at January 1, 2015                    |  |                  | 12,833 |   |          |  | 13,039 |       |  |  | 2,165  |   |  |  | 28,037  |  
|Additions                                |  |                  | 2,792  |   |          |  | 3,733  |       |  |  |       |   |  |  | 6,525   |  
|Exchange differences                     |  |                  | 466    |   |          |  | 43     |       |  |  |       |   |  |  | 509     |  
|Disposals                                |  |                  |       |   |          |  | (493   | )     |  |  |       |   |  |  | (493    | )
|                                         |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |         |  
|As at December 31, 2015                  |  |                  | 16,091 |   |          |  | 16,322 |       |  |  | 2,165  |   |  |  | 34,578  |  
|Accumulated amortization and impairment: |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |         |  
|As at January 1, 2015                    |  |                  | (1,297 | ) |          |  | (6,447 | )     |  |  | (1,297 | ) |  |  | (9,041  | )
|Amortization                             |  |                  | (391   | ) |          |  | (2,290 | )     |  |  | (114   | ) |  |  | (2,795  | )
|Exchange differences                     |  |                  |       |   |          |  | (41    | )     |  |  |       |   |  |  | (41     | )
|Disposals                                |  |                  |       |   |          |  | 493    |       |  |  |       |   |  |  | 493     |  
|                                         |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |         |  
|As at December 31, 2015                  |  |                  | (1,688 | ) |          |  | (8,285 | )     |  |  | (1,411 | ) |  |  | (11,384 | )
|Carrying amount as at December 31, 2015  |  |                  | 14,403 |   |          |  | 8,037  |       |  |  | 754    |   |  |  | 23,194  |  
|                                         |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |         |  
|Cost:                                    |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |         |  
|As at January 1, 2014                    |  |                  | 11,980 |   |          |  | 10,723 |       |  |  | 2,165  |   |  |  | 24,868  |  
|Additions                                |  |                  | 376    |   |          |  | 2,953  |       |  |  |       |   |  |  | 3,329   |  
|Exchange differences                     |  |                  | 477    |   |          |  | 25     |       |  |  |       |   |  |  | 502     |  
|Disposals                                |  |                  |       |   |          |  | (662   | )     |  |  |       |   |  |  | (662    | )
|                                         |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |         |  
|As at December 31, 2014                  |  |                  | 12,833 |   |          |  | 13,039 |       |  |  | 2,165  |   |  |  | 28,037  |  
|Accumulated amortization and impairment: |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |         |  
|As at January 1, 2014                    |  |                  | (943   | ) |          |  | (4,936 | )     |  |  | (1,111 | ) |  |  | (6,990  | )
|Amortization                             |  |                  | (354   | ) |          |  | (2,144 | )     |  |  | (186   | ) |  |  | (2,684  | )
|Exchange differences                     |  |                  |       |   |          |  | (29    | )     |  |  |       |   |  |  | (29     | )
|Disposals                                |  |                  |       |   |          |  | 662    |       |  |  |       |   |  |  | 662     |  
|                                         |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |         |  
|As at December 31, 2014                  |  |                  | (1,297 | ) |          |  | (6,447 | )     |  |  | (1,297 | ) |  |  | (9,041  | )
|Carrying amount as at December 31, 2014  |  |                  | 11,536 |   |          |  | 6,592  |       |  |  | 868    |   |  |  | 18,996  |  
|                                         |  |                  |        |   |          |  |        |       |  |  |        |   |  |  |         |  

Amortization of intangible assets is disclosed as general and administrative cost in the consolidated income
statement.



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|13 | Other investments
|-- | -----------------

The other investments represent a USD 2.0 million convertible
loan given by Interxion Participation 1 B.V. to Icolo Ltd. Interxion has the option to convert the loan into equity on the maturity date or upon the occurrence of an enforcement event. As at December 31, 2016 the fair value of the conversion
option is nil.

Until 2014, the financial asset consisted of a 1.6% equity shareholding in iStreamPlanet Inc., which was sold during the
third quarter of 2015. The financial asset was designated as a financial asset measured at fair value through profit and loss. Refer to note 9 for disclosure on the realized gain.



|14 | Trade and other (non-) current assets
|-- | -------------------------------------



|                                     |  |         |        |  |      |  |        |      |  |  |        | 
|------------------------------------ |  | ------- | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                                     |  | 2016    |        |  | 2015 |  |        | 2014 | 
|                                     |  | (000) |       
|Non-current                          |  |         |        |  |      |  |        |      |  |  |        | 
|Data-centre-related prepaid expenses |  |         | 3,507  |  |      |  | 2,834  |      |  |  | 976    | 
|Rental and other supplier deposits   |  |         | 3,056  |  |      |  | 2,929  |      |  |  | 2,714  | 
|Deferred financing costs             |  |         | 142    |  |      |  | 422    |      |  |  | 995    | 
|Deferred rent related stamp duties   |  |         | 379    |  |      |  | 501    |      |  |  | 523    | 
|Other non-current assets             |  |         | 4,830  |  |      |  | 4,466  |      |  |  | 5,426  | 
|                                     |  |         |        |  |      |  |        |      |  |  |        | 
|                                     |  |         | 11,914 |  |      |  | 11,152 |      |  |  | 10,634 | 
|                                     |  |         |        |  |      |  |        |      |  |  |        | 

The deferred financing costs relate to the costs incurred for the Revolving Facility Agreement. On
June 17, 2013, the Company entered into a 100.0 million revolving facility agreement with ABN AMRO Bank N.V., Barclays Bank PLC, Citigroup Global Markets Limited, Credit Suisse AG, Bank of America Securities Limited, as arrangers,
the lenders thereunder, Barclays Bank PLC, as agent and Barclays Bank PLC as security trustee. The Revolving Facility was undrawn as of December 31, 2016.

On July 3, 2013, in connection with the issue of the 325.0 million Senior Secured Notes due 2020, all conditions precedent to the
utilization of this revolving facility agreement were satisfied. In 2012, the Company amended the terms of its existing Revolving Facility Agreement.



|                                          |  |         |         |  |      |  |         |      |  |  |         | 
|----------------------------------------- |  | ------- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                                          |  | 2016    |         |  | 2015 |  |         | 2014 | 
|                                          |  | (000) |        
|Current                                   |  |         |         |  |      |  |         |      |  |  |         | 
|Trade receivables  net (Note 21)         |  |         | 91,451  |  |      |  | 79,128  |      |  |  | 69,224  | 
|Taxes receivable                          |  |         | 5,416   |  |      |  | 5,716   |      |  |  | 2,881   | 
|Accrued revenue                           |  |         | 34,560  |  |      |  | 39,442  |      |  |  | 35,104  | 
|Prepaid expenses and other current assets |  |         | 16,394  |  |      |  | 17,650  |      |  |  | 13,955  | 
|                                          |  |         |         |  |      |  |         |      |  |  |         | 
|                                          |  |         | 147,821 |  |      |  | 141,936 |      |  |  | 121,164 | 
|                                          |  |         |         |  |      |  |         |      |  |  |         | 

Accrued revenue relates to service-fee holidays provided in relation
to our long-term customer contracts. As per December 31, 2016, 21.0 million of the accrued revenue balance will not be realized within 12 months.

Prepaid expenses and other current assets principally comprise accrued income, prepaid insurances, rental and other related operational
data center and construction-related prepayments.



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As from 2016, other current and non-current assets
include 3.7 million cash held as collateral to support the issuance of bank guarantees on behalf of a number of subsidiary companies (2015: 4.9 million; 2014: 5.3 million). Until 2015, the collaterised cash was included
in cash and cash equivalents and disclosed. Comparative figures for 2015 and 2014 have been adjusted accordingly.



|15 | Cash and cash equivalents and short-term investments
|-- | ----------------------------------------------------

Cash and cash equivalents in prior
periods included 4.9 million (2015) and 5.3 million (2014) that is restricted and held as collateral to support the issuance of bank guarantees on behalf of a number of subsidiary companies. Since 2016, the cash held
as collateral (3.7 million) has been classified as other current assets (0.4 million) and other non-current assets (3.3 million). Comparative figures for 2015 and 2014 have been adjusted
accordingly.

Short-term investments in 2014 related to short-term interest bearing deposit accounts. In 2016 and 2015 there were no
short-term investments.



|16 | Shareholders equity
|-- | --------------------

Share capital and share premium



|                           |  |                          |        |  |      |  |        |      |  |  |        | 
|-------------------------- |  | ------------------------ | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                           |  | Ordinary shares          |       
|                           |  | 2016                     |        |  | 2015 |  |        | 2014 | 
|                           |  | (In thousands of shares) |       
|On issue at 1 January      |  |                          | 69,919 |  |      |  | 69,317 |      |  |  | 68,867 | 
|Issue/conversion of shares |  |                          | 684    |  |      |  | 602    |      |  |  | 450    | 
|                           |  |                          |        |  |      |  |        |      |  |  |        | 
|On issue at 31 December    |  |                          | 70,603 |  |      |  | 69,919 |      |  |  | 69,317 | 

On January 28, 2011, the Company issued 16,250 thousand new shares (post reverse stock split) at the
New York Stock Exchange under the ticker symbol INXN. On completion of the offering, the Company did a reverse stock split 5:1, which resulted in nominal value of 0.10 per ordinary shares. The 34,808 thousand Preferred Shares were
converted into ordinary shares and the Liquidation Price of 1.00 (post reverse stock split) per Preferred A Share was either paid out in cash or converted in ordinary shares (3.3 million ordinary shares). In 2016, a total of approximately
0.5 million (2015: 0.4 million, 2014: 0.5 million) options were exercized and restricted and performance shares were vested.

At
December 31, 2016, 2015 and 2014, the authorized share capital comprised 200,000,000 ordinary shares at par value of 0.10. All issued shares are fully paid.

Foreign currency translation reserve

The
foreign currency translation reserve comprises of all foreign exchange differences arising from the translation of the financial statements of foreign operations as well as from the translation of intergroup balances with a permanent nature.



|17 | Earnings per share
|-- | ------------------

Basic earnings per share

The calculation of basic earnings per share at December 31, 2016, was based on the profit of 39,883,000 attributable to ordinary
shareholders (2015: 48,566,000 and 2014: 35,060,000) and a weighted average number of ordinary shares outstanding during the year ended December 31, 2016, of 70,349,000 (for the years; 2015: 69,579,000 and 2014: 69,048,000). Profit
is attributable to ordinary shareholders on an equal basis.

Diluted earnings per share

The calculation of diluted earnings per share at December 31, 2016, was based on the profit of 39,883,000 attributable to ordinary
shareholders (2015: 48,566,000 and 2014: 35,060,000) and a weighted average number of ordinary shares and the impact of options, restricted share and performance shares outstanding during the year ended December 31, 2016, of 71,215,000
(for the years; 2015: 70,499,000 and 2014: 69,922,000).



F-42



---

##### Table of Contents

In January 2011, the Company issued new shares at the New York Stock Exchange under the ticker
symbol INXN. On completion of the offering, the Company did a reverse stock split 5:1, which resulted in nominal value of 0.10 per ordinary share. The 5:1 reverse stock split effected is presented in the basic earnings per share calculation
and the diluted earnings per share calculation.

Profit attributable to ordinary shareholders



|                                             |  |         |        |  |      |  |        |      |  |  |        | 
|-------------------------------------------- |  | ------- | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                                             |  | 2016    |        |  | 2015 |  |        | 2014 | 
|                                             |  | (000) |       
|Profit attributable to ordinary shareholders |  |         | 39,883 |  |      |  | 48,566 |      |  |  | 35,060 | 

Weighted average number of
ordinary shares



|                                                                             |  |  |        |  |  |  |        |  |  |  |        | 
|---------------------------------------------------------------------------- |  |  | ------ |  |  |  | ------ |  |  |  | ------ | 
|Weighted average number of ordinary shares at 31 December                    |  |  | 70,349 |  |  |  | 69,579 |  |  |  | 69,048 | 
|Dilution effect of share options, restricted and performance shares on issue |  |  | 866    |  |  |  | 920    |  |  |  | 874    | 
|                                                                             |  |  |        |  |  |  |        |  |  |  |        | 
|Weighted average number of ordinary (diluted) at 31 December                 |  |  | 71,215 |  |  |  | 70,499 |  |  |  | 69,922 | 
|                                                                             |  |  |        |  |  |  |        |  |  |  |        | 



|18 | Trade payables and other liabilities
|-- | ------------------------------------



|                              |  |         |         |  |      |  |         |      |  |  |         | 
|----------------------------- |  | ------- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                              |  | 2016    |         |  | 2015 |  |         | 2014 | 
|                              |  | (000) |        
|Non-current                   |  |         |         |  |      |  |         |      |  |  |         | 
|Deferred revenue              |  |         | 6,282   |  |      |  | 5,272   |      |  |  | 4,986   | 
|Other non-current liabilities |  |         | 5,436   |  |      |  | 6,777   |      |  |  | 7,225   | 
|                              |  |         |         |  |      |  |         |      |  |  |         | 
|                              |  |         | 11,718  |  |      |  | 12,049  |      |  |  | 12,211  | 
|                              |  |         |         |  |      |  |         |      |  |  |         | 
|Current                       |  |         |         |  |      |  |         |      |  |  |         | 
|Trade payables                |  |         | 23,076  |  |      |  | 25,045  |      |  |  | 23,902  | 
|Tax and social security       |  |         | 6,518   |  |      |  | 9,435   |      |  |  | 9,921   | 
|Customer deposits             |  |         | 19,963  |  |      |  | 20,500  |      |  |  | 19,286  | 
|Deferred revenue              |  |         | 63,974  |  |      |  | 60,700  |      |  |  | 53,246  | 
|Accrued expenses              |  |         | 57,868  |  |      |  | 46,949  |      |  |  | 40,147  | 
|                              |  |         |         |  |      |  |         |      |  |  |         | 
|                              |  |         | 171,399 |  |      |  | 162,629 |      |  |  | 146,502 | 
|                              |  |         |         |  |      |  |         |      |  |  |         | 

Trade payables include 10,594,000 (2015: 14,958,000 and 2014: 13,976,000) accounts payable
in respect of purchases of property, plant and equipment.



F-43



---

##### Table of Contents

Accrued expenses are analyzed as follows:



|                                          |  |         |        |  |      |  |        |      |  |  |        | 
|----------------------------------------- |  | ------- | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                                          |  | 2016    |        |  | 2015 |  |        | 2014 | 
|                                          |  | (000) |       
|Data-center-related costs                 |  |         | 18,752 |  |      |  | 11,788 |      |  |  | 9,042  | 
|Personnel and related costs               |  |         | 12,261 |  |      |  | 11,709 |      |  |  | 9,381  | 
|Professional services                     |  |         | 1,871  |  |      |  | 2,246  |      |  |  | 1,857  | 
|Customer implementation and related costs |  |         | 3,081  |  |      |  | 3,346  |      |  |  | 3,689  | 
|Financing-related costs                   |  |         | 17,498 |  |      |  | 13,454 |      |  |  | 13,414 | 
|Other                                     |  |         | 4,405  |  |      |  | 4,406  |      |  |  | 2,764  | 
|                                          |  |         |        |  |      |  |        |      |  |  |        | 
|                                          |  |         | 57,868 |  |      |  | 46,949 |      |  |  | 40,147 | 
|                                          |  |         |        |  |      |  |        |      |  |  |        | 

As at December 31, 2016, the accrued financing-related costs principally relate to interest expenses on
the Senior Secured Notes.



|19 | Provision for onerous lease contracts
|-- | -------------------------------------

The provision for onerous lease contracts related
to two unused data center sites in Germany, one in Munich terminated in March 2016 and one in Dusseldorf terminated in August 2016.

The
provision was calculated based on the discounted future contracted payments net of any sublease revenues.



|                                 |  |         |        |   |      |  |        |      |  |  |        |  
|-------------------------------- |  | ------- | ------ | - | ---- |  | ------ | ---- |  |  | ------ | -
|                                 |  | 2016    |        |   | 2015 |  |        | 2014 | 
|                                 |  | (000) |       
|As at 1 January                  |  |         | 1,517  |   |      |  | 4,934  |      |  |  | 8,875  |  
|Increase/(decrease) in provision |  |         |       |   |      |  | (184   | )    |  |  | (805   | )
|Unwinding of discount            |  |         | 16     |   |      |  | 115    |      |  |  | 230    |  
|Utilization of provision         |  |         | (1,533 | ) |      |  | (3,348 | )    |  |  | (3,366 | )
|                                 |  |         |        |   |      |  |        |      |  |  |        |  
|As at 31 December                |  |         |       |   |      |  | 1,517  |      |  |  | 4,934  |  
|                                 |  |         |        |   |      |  |        |      |  |  |        |  
|Non-current                      |  |         |       |   |      |  |       |      |  |  | 1,491  |  
|Current                          |  |         |       |   |      |  | 1,517  |      |  |  | 3,443  |  
|                                 |  |         |        |   |      |  |        |      |  |  |        |  
|                                 |  |         |       |   |      |  | 1,517  |      |  |  | 4,934  |  
|                                 |  |         |        |   |      |  |        |      |  |  |        |  

Discounted estimated future losses were calculated using a discount rate based on the five-year euro-area
government benchmark bond yield prevailing at the balance sheet date.



F-44



---

##### Table of Contents

|20 | Borrowings
|-- | ----------



|                                    |  |         |         |  |      |  |         |      |  |  |         | 
|----------------------------------- |  | ------- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                                    |  | 2016    |         |  | 2015 |  |         | 2014 | 
|                                    |  | (000) |        
|Non-current                         |  |         |         |  |      |  |         |      |  |  |         | 
|Senior Secured Notes 6.0%, due 2020 |  |         | 629,327 |  |      |  | 475,503 |      |  |  | 475,643 | 
|Mortgages                           |  |         | 43,508  |  |      |  | 40,727  |      |  |  | 29,141  | 
|Finance lease liabilities           |  |         | 51,140  |  |      |  | 34,582  |      |  |  | 34,141  | 
|Other loans                         |  |         |        |  |      |  |        |      |  |  | 1,605   | 
|                                    |  |         |         |  |      |  |         |      |  |  |         | 
|                                    |  |         | 723,975 |  |      |  | 550,812 |      |  |  | 540,530 | 
|Current                             |  |         |         |  |      |  |         |      |  |  |         | 
|Mortgages                           |  |         | 10,904  |  |      |  | 3,346   |      |  |  | 2,346   | 
|Finance lease liabilities           |  |         | 578     |  |      |  |        |      |  |  | 18,716  | 
|Other loans                         |  |         |        |  |      |  | 1,605   |      |  |  |        | 
|                                    |  |         |         |  |      |  |         |      |  |  |         | 
|                                    |  |         | 11,482  |  |      |  | 4,951   |      |  |  | 21,062  | 
|                                    |  |         |         |  |      |  |         |      |  |  |         | 
|Total borrowings                    |  |         | 735,457 |  |      |  | 555,763 |      |  |  | 561,592 | 
|                                    |  |         |         |  |      |  |         |      |  |  |         | 

The carrying amounts of the Groups borrowings are principally denominated in euros. The face value of
the Senior Secured Notes as at December 31, 2016 was 625,000,000 (2015: 475,000,000 and 2014: 475,000,000).

The
face value of the mortgages amounted to 55,239,000 as per December 31, 2016 (2015: 44,646,000 and 2014: 31,993,000).

Senior
Secured Notes and bank borrowings

Mortgages

In November 2012, the Group entered into a five-year mortgage for 10.0 million. The mortgage is secured by the AMS6 land and data
center buildings with a carrying value of 15,895,000. The loan is subject to a floating interest rate of EURIBOR plus an individual margin of 275 basis points.

In January 2013, the Group completed two mortgage financings totalling 10.0 million. The loans are secured by mortgages on the PAR3
land, owned by Interxion Real Estate II Sarl, and the PAR5 land, owned by Interxion Real Estate III Sarl, and pledges on the lease agreements, and are guaranteed by Interxion France SAS. The principal amounts on the two loans are to be repaid in
quarterly instalments in an aggregate amount of 167,000 commencing on April 18, 2013. The mortgages have a maturity of 15 years and have a variable interest rate based on EURIBOR plus an individual margin ranging from 240 to 280 basis points.
The interest rates have been fixed for 75% of the principal outstanding amount for a period of ten years.

In June 2013, the Group
completed a 6 million mortgage financing. The loan is secured by a mortgage on the AMS3 property, owned by Interxion Real Estate V B.V., and a pledge on the lease agreement. The principal is to be repaid in annual instalments of
400,000 commencing May 1, 2014, and a final repayment of 4,400,000 due on May 1, 2018. The mortgage has a variable interest rate based on EURIBOR plus 275 basis points. The loan contains a minimum of 1.1 debt service capacity covenant
ratio based on operations of Interxion Real Estate V B.V.

In April 2014, the Group completed a 9.2 million financing. The
facility is secured by a mortgage on the data center property in Zaventhem (Belgium), which was acquired by Interxion Real Estate IX N.V. on January 9, 2014, anda pledge on the lease agreement, and is guaranteed by Interxion Real Estate Holding
B.V. The facility has a maturity of 15 years and has a variable interest rate based on EURIBOR plus 200 basis points. The principal amount is to be repaid in 59 quarterly instalments of 153,550, of which the first quarterly instalment was paid
on July 31, 2014, and a final repayment is due on April 30, 2029.



F-45



---

##### Table of Contents

On October 13, 2015, the Group completed a 15.0 million mortgage financing. The
facility is secured by a mortgage on the real estate property in Germany, which is owned by Interxion Real Estate I B.V. and a pledge on the lease agreement. The facility has a maturity of five years and has a variable interest rate based on EURIBOR
plus 225 basis points. The principal amount is to be repaid in four annual instalments of 1,000,000 of which the first annual instalment was paid on September 30, 2016, and a final repayment of 11,000,000 which is due on
September 30, 2020.

On April 8, 2016, the Group completed a 14.6 million financing. The facility is secured by a
mortgage on the data center property in Vienna (Austria), acquired by Interxion Real Estate VII GmbH in January 2015, and a pledge on the lease agreement, and is guaranteed by Interxion Real Estate Holding B.V. The facility has a maturity of 14
years and nine months, and has a variable interest rate based on EURIBOR plus 195 basis points. The principal amount is due to be repaid in 177 monthly instalments, increasing from 76,000 to 91,750. The first monthly instalment of
76,000 was paid on April 30, 2016, and a final repayment of 91,750 is due on December 31, 2030.

These mortgages do
not conflict with the restrictions of the Indenture and the Revolving Facility Agreement.

Senior Secured Notes due 2020

On July 3, 2013, the Company issued an aggregate principal amount of 325.0 million 6.00% Senior Secured Notes due 2020 (the
Senior Secured Notes due 2020).

The net proceeds of the offering were used to purchase all the 260 million Senior
Secured Notes due 2017, which were tendered in the offer for those notes and to redeem the 260 million Senior Secured Notes due 2017 which remained outstanding following the expiration and settlement of the tender offer and consent
solicitation, to pay all related fees, expenses and premiums and for other general corporate purposes.

The 325.0 million
Senior Secured Notes due 2020 are governed by an indenture dated July 3, 2013, between the Company, as issuer, and The Bank of New York Mellon, London Branch as Trustee. The indenture contains customary restrictive covenants, including but not
limited to limitations or restrictions on our ability to incur debt, grant liens, make restricted payments and sell assets. The restrictive covenants are subject to customary exceptions and are governed by a consolidated fixed charge ratio to exceed
2.00 and a consolidated senior leverage ratio (net of cash and cash equivalents) not to exceed 4.00.

The obligations under the
325.0 million Senior Secured Notes due 2020 are guaranteed by certain of the Companys subsidiaries.

On April 29,
2014, the Company completed the issuance of 150.0 million aggregate principal amount of its 6.00% Senior Secured Notes due 2020 (the Additional Notes). The net proceeds of the offering amount to 157.9 million, net
of offering fees and expenses of 2.3 million. The net proceeds reflect the issuance of the Additional notes at a premium of 106.75 and net of offering fees and expenses. The Additional Notes, which are guaranteed by certain subsidiaries
of the Company, were issued under the indenture pursuant to which, on July 3, 2013, the Company issued 325.0 million in aggregate principal amount of 6.00% Senior Secured Notes due 2020.

On April 14, 2016, the Company completed the issuance of an additional 150.0 million aggregate principal amount of its 6.00%
Senior Secured Notes due 2020 (together with the notes issued on April 29, 2014, the Additional Notes). The net proceeds of the offering amounted to approximately 155.3 million, net of estimated offering fees and expenses
of 2.1 million. The net proceeds contain the nominal value of the Additional Notes increased with a premium at 104.50. The Additional Notes, which are guaranteed by certain subsidiaries of the Company, were issued under the indenture
dated July 3, 2013, pursuant to which the Company has previously issued 475.0 million in aggregate principal amount of 6.00% Senior Secured Notes due 2020.



F-46



---

##### Table of Contents

The Company may redeem all or part of the 625.0 million Senior Secured Notes due 2020.
The Company has the following redemption rights:

Optional Redemption

At any time after July 15, 2016 and before maturity, upon not less than ten and not more than 60 days notice, the Company may redeem all
or part of the Senior Secured Notes. These redemptions will be in amounts of 100,000 or integral multiples of 1,000 in excess thereof at the following redemption prices (expressed as percentages of their principal amount at maturity),
plus accrued and unpaid interest, if any, to the redemption date, if redeemed during the 12-month period commencing on July 15 of the years set out below.



|                    |  |                  |         |  
|------------------- |  | ---------------- | ------- | -
|Year                |  | Redemption Price |        
|2016                |  |                  | 104.500 | %
|2017                |  |                  | 103.000 | %
|2018                |  |                  | 101.500 | %
|2019 and thereafter |  |                  | 100.000 | %

Change of Control

If, at any time, directly or indirectly, a beneficial owner becomes owner of more than 50% of the total voting power of the voting stock of the
Company, a change of control occurs. The Company shall then make an offer to each holder of the Senior Secured Notes to purchase each holders Senior Secured Notes, in whole or in part, in a principal amount of 100,000, or in integral
multiples of 1,000, in excess thereof at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of purchase.

100.0 million Revolving Facility Agreement

On June 17, 2013, the Company entered into a new 100.0 million revolving facility agreement with ABN AMRO Bank N.V., Barclays
Bank PLC, Citigroup Global Markets Limited, Credit Suisse AG, Banc of America Securities Limited, as arrangers, the lenders thereunder, Barclays Bank PLC, as agent and Barclays Bank PLC as security trustee. This new 100.0 million
revolving facility agreement replaced the 60 million revolving facility agreement.

On July 3, 2013, in connection with the
issue of the 325.0 million Senior Secured Notes due 2020, all conditions precedent to the utilization of this revolving facility agreement were satisfied.

Change of control or sale of assets

If,
there is a sale of all or substantially all the assets of the Group whether in a single transaction or a series of related transactions, or a change of control that any beneficial owner gains control of the Company, then a lender under the revolving
facility agreement shall not be obliged to fund a loan to the Company.

In addition, if within 30 days of the Company notifying the Agent
of a change of control or sale of assets as described above, a lender wishes to cancel its commitment under the revolving facility agreement as a result of that event, such lenders commitments will be immediately cancelled and its
participation in all outstanding loans shall, together with the accrued and unpaid interest and all other amounts accrued and outstanding under the agreement, become due and payable within 10 business days of the date on which the relevant lender
notifies the agent, unless the Company replaces such lender within such 10 business day period.

Maturity profile

The maturity profile of the gross amounts of Senior Secured Notes and Mortgages is set out below:



|                      |  |         |         |  |      |  |         |      |  |  |         | 
|--------------------- |  | ------- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                      |  | 2016    |         |  | 2015 |  |         | 2014 | 
|                      |  | (000) |        
|Within one year       |  |         | 7,332   |  |      |  |        |      |  |  |        | 
|Between 1 and 5 years |  |         | 643,800 |  |      |  | 503,199 |      |  |  | 14,266  | 
|Over 5 years          |  |         | 29,107  |  |      |  | 16,447  |      |  |  | 492,727 | 
|                      |  |         |         |  |      |  |         |      |  |  |         | 
|                      |  |         | 680,239 |  |      |  | 519,646 |      |  |  | 506,993 | 
|                      |  |         |         |  |      |  |         |      |  |  |         | 



F-47



---

##### Table of Contents

The Group has the following undrawn bank borrowing facilities:



|                               |  |         |         |  |      |  |         |      |  |  |         | 
|------------------------------ |  | ------- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                               |  | 2016    |         |  | 2015 |  |         | 2014 | 
|                               |  | (000) |        
|Expiring within one year       |  |         |        |  |      |  |        |      |  |  |        | 
|Expiring between 1 and 5 years |  |         | 100,000 |  |      |  | 100,000 |      |  |  | 100,000 | 
|                               |  |         |         |  |      |  |         |      |  |  |         | 
|                               |  |         | 100,000 |  |      |  | 100,000 |      |  |  | 100,000 | 
|                               |  |         |         |  |      |  |         |      |  |  |         | 

Covenants

The Revolving Facility Agreement contains various covenants that restrict, among other things and subject to certain exceptions, the ability of
the Company and its subsidiaries to:



| |  |  | create certain liens;
| | - |  | ---------------------



| |  |  | incur debt and/or guarantees;
| | - |  | -----------------------------



| |  |  | enter into transactions other than on an arms-length basis;
| | - |  | ------------------------------------------------------------



| |  |  | pay dividends or make certain distributions or payments;
| | - |  | --------------------------------------------------------



| |  |  | engage, in relation to the Company, in any business activity or own assets or incur liabilities not authorised by the Revolving Facility Agreement;
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | sell certain kinds of assets;
| | - |  | -----------------------------



| |  |  | enter into any sale and leaseback transactions;
| | - |  | -----------------------------------------------



| |  |  | make certain investments or other types of restricted payments;
| | - |  | ---------------------------------------------------------------



| |  |  | substantially change the nature of the Company or the Groups business;;
| | - |  | ------------------------------------------------------------------------



| |  |  | designate unrestricted subsidiaries; and
| | - |  | ----------------------------------------



| |  |  | effect mergers, consolidations or sale of assets.
| | - |  | -------------------------------------------------

The Revolving Facility also requires the
Company to maintain a specified financial ratio. The restrictive covenants are subject to customary exceptions including, in relation to the incurrence of additional debt, a consolidated fixed charge ratio (calculated as a ratio of Adjusted EBITDA
to consolidated interest expense), to exceed 2.00 to 1.00 on a pro forma basis for the four full fiscal quarters (taken as one period) for which financial statements are available immediately preceding the incurrence of such debt and, if such debt
is senior debt, a consolidated senior leverage ratio (calculated as a ratio of outstanding senior debt net of cash and cash equivalents of the Company and its restricted subsidiaries (on a consolidated basis) to pro forma Adjusted EBITDA), to be
less than 4.00 to 1.00 on a pro forma basis for the four full fiscal quarters (taken as one period) for which financial statements are available immediately preceding the incurrence of such debt.

The Revolving Facility Agreement also includes a leverage ratio financial covenant (tested on a quarterly basis) requiring total net debt
(calculated as a ratio to pro forma EBITDA) not to exceed a leverage ratio of 4.00 to 1.00. In addition, the Company must ensure, under the Revolving Facility Agreement, that the guarantors represent a certain percentage of Adjusted EBITDA of the
Group as a whole and a certain percentage of the consolidated net assets of the Group as a whole. Our ability to meet these covenants may be affected by events beyond our control and, as a result, we cannot assure you that we will be able to meet
the covenants. In the event of a default under our Revolving Facility, the lenders could terminate their commitments and declare all amounts owed to them to be due and payable. Borrowings under other debt instruments that contain cross acceleration
or cross default provisions, including the Senior Secured Notes, may as a result also be accelerated and become due and payable.

The
breach of any of these covenants by the Company or the failure by the Company to maintain its leverage ratio could result in a default under the Revolving Facility Agreement. As of December 31, 2016, the Company was in compliance with all
covenants in the Revolving Facility Agreement. In addition, the Company does not anticipate any such breach or failure and believes that its ability to borrow funds under the Revolving Facility Agreement will not be adversely affected by the
covenants in the next 12 months.



F-48



---

##### Table of Contents

The Senior Secured Notes due 2020 Indenture contains covenants for the benefit of the holders of
the Notes that restrict, among other things and subject to certain exceptions, the ability of the Company and its subsidiaries to:



| |  |  | incur debt;
| | - |  | -----------



| |  |  | enter into certain transactions with, or for the benefit of, an affiliate;
| | - |  | --------------------------------------------------------------------------



| |  |  | create or incur certain liens;
| | - |  | ------------------------------



| |  |  | incur changes in control;
| | - |  | -------------------------



| |  |  | pay dividends or make certain distributions or payments;
| | - |  | --------------------------------------------------------



| |  |  | engage in any business activity not authorized by the Indenture;
| | - |  | ----------------------------------------------------------------



| |  |  | sell certain kinds of assets;
| | - |  | -----------------------------



| |  |  | impair any security interest on the assets serving as collateral for the Notes;
| | - |  | -------------------------------------------------------------------------------



| |  |  | enter into any sale and leaseback transaction;
| | - |  | ----------------------------------------------



| |  |  | make certain investments or other types of restricted payments;
| | - |  | ---------------------------------------------------------------



| |  |  | designate unrestricted subsidiaries;
| | - |  | ------------------------------------



| |  |  | effect mergers, consolidations or sale of assets; and
| | - |  | -----------------------------------------------------



| |  |  | guarantee certain debt.
| | - |  | -----------------------

The restrictive covenants are subject to customary exceptions and are
governed by a consolidated fixed-charge ratio to exceed 2.00 and a consolidated senior leverage ratio (net of cash and cash equivalents) not to exceed 4.00.

The breach of any of these covenants by the Company could result in a default under the Indenture. As of December 31, 2016, the Company
was in compliance with all covenants in the Indenture.

Interxion remained in full compliance with all its debt covenants. The
Companys consolidated fixed charge ratio stood at 4.51 (2015: 5.14) and both the net debt ratio and the leverage ratio financial covenant stood at 3.26 (2015: 2.94).

Financial lease liabilities

Financial
lease liabilities relate to the acquisition of property, plant and equipment with the following payment schedule:



|                                        |  |         |         |   |      |  |         |      |  |  |         |  
|--------------------------------------- |  | ------- | ------- | - | ---- |  | ------- | ---- |  |  | ------- | -
|                                        |  | 2016    |         |   | 2015 |  |         | 2014 | 
|                                        |  | (000) |        
|Gross lease liabilities:                |  |         |         |   |      |  |         |      |  |  |         |  
|Within one year                         |  |         | 4,346   |   |      |  | 2,990   |      |  |  | 21,604  |  
|Between 1 and 5 years                   |  |         | 31,904  |   |      |  | 30,230  |      |  |  | 31,964  |  
|More than 5 years                       |  |         | 39,144  |   |      |  | 20,024  |      |  |  | 21,280  |  
|                                        |  |         |         |   |      |  |         |      |  |  |         |  
|                                        |  |         | 75,394  |   |      |  | 53,244  |      |  |  | 74,848  |  
|Future interest payments                |  |         | (23,676 | ) |      |  | (18,662 | )    |  |  | (21,991 | )
|                                        |  |         |         |   |      |  |         |      |  |  |         |  
|Present value of minimum lease payments |  |         | 51,718  |   |      |  | 34,582  |      |  |  | 52,857  |  
|                                        |  |         |         |   |      |  |         |      |  |  |         |  



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##### Table of Contents

In September 2015, the Group entered into a contract to lease the properties related to the AMS8
data center. The lease, which covers land and building, commenced during the third quarter of 2016. The land component has been treated as an operating lease, the building as a finance lease. As per December 31, 2016, the carrying value of the
building amounted to 17.7 million.

In November 2014, the Group agreed to purchase the VIE data center land and building for
18.7 million. The assets were previously accounted for as an operating lease. Upon entering into this purchase agreement, the lease was reported as a finance lease in accordance with IAS 17. In January 2015 the purchase transaction was
effected. The purchase amount was paid in full and reported as a purchase of property, plant and equipment within investing cash flow and the finance lease liability was released. The carrying value of the land amounts to 9,150,000 and the
carrying value of the building amounts to 10,171,000.

In August 2014, the Group exercized its option to purchase the AMS7 data
center land and building. The actual legal transaction will become effective in 2023. As a result of this modification, in accordance with IAS17, as of 22 August 2014, the lease, which was previously reported as an operating lease is reported
as a financial lease. The carrying amount of the land amounts to 5,800,000, the carrying value of the building amounted to 7,600,000 as per exercise date. The actual legal transaction will become effective in 2023.

In December 2012, the Group exercized its option to purchase the PAR7 data center land. The actual legal transaction will come into effect in
2019. As a result of this modification, in accordance with IAS17, as of December 20, 2012, the lease, which was previously reported as an operating lease is treated as a financial lease. The carrying amount of the land amounts to
20,832,000.

Other loans

The
Group had a loan facility with the landlord of one of its unused data center sites in Germany to allow the Group to invest in improvements to the building to meet the requirements of sub-lessees. The loan bore
interest at 6% per annum and was repaid in 2016. As at December 31, 2015, the balance of the landlord loan was 1,605,000 (2014: 1,605,000).



|21 | Financial instruments
|-- | ---------------------

Credit risk

Exposure to credit risk

The carrying
amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was:



|                                   |  |         |         |  |      |  |         |      |  |  |         | 
|---------------------------------- |  | ------- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                                   |  | 2016    |         |  | 2015 |  |         | 2014 | 
|                                   |  | (000) |        
|Trade receivables                  |  |         | 91,451  |  |      |  | 79,128  |      |  |  | 69,224  | 
|Accrued revenue                    |  |         | 34,560  |  |      |  | 39,442  |      |  |  | 35,104  | 
|Rental and other supplier deposits |  |         | 3,056   |  |      |  | 2,929   |      |  |  | 2,714   | 
|Other investments                  |  |         | 1,942   |  |      |  |        |      |  |  |        | 
|Restricted cash                    |  |         | 3,729   |  |      |  | 4,868   |      |  |  | 5,286   | 
|Cash and cash equivalents          |  |         | 115,893 |  |      |  | 53,686  |      |  |  | 94,637  | 
|                                   |  |         |         |  |      |  |         |      |  |  |         | 
|                                   |  |         | 250,631 |  |      |  | 180,053 |      |  |  | 206,965 | 
|                                   |  |         |         |  |      |  |         |      |  |  |         | 

The Group seeks to minimize the risk related to cash and cash equivalents by holding cash as widely as
possible across multiple bank institutions. Term risk is limited to deposits of no more than two weeks. The Group monitors its cash position, including counterparty and term risk, daily.



F-50



---

##### Table of Contents

The Group seeks to minimize the credit risk related to customers by analyzing new customers
individually for creditworthiness before it begins to trade. If customers are independently rated, these ratings are used. If, there is no independent rating, the credit quality of the customer is analyzed taking its financial position, past
experience and other factors into account.

The Groups largest financial asset balance exposed to credit risk is with a financial
institution, one of the Companys relationships banks, which accounts for approximately 39% of the total balance exposed to credit risk as at December 31, 2016.

The Groups largest customer balance exposed to credit risk is with a customer, serviced from multiple locations under multiple service
contracts, which accounts for approximately 14% of the total balance exposed to credit risk as at December 31, 2016.

The maximum
credit exposure on the trade receivables is limited by the deferred revenue balance of 70,256,000, as presented in Note 18 (2015: 65,972,000 and 2014: 58,232,000).

The exposure to credit risk for trade receivables at the reporting date by geographic region was:



|                                        |  |         |        |  |      |  |        |      |  |  |        | 
|--------------------------------------- |  | ------- | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                                        |  | 2016    |        |  | 2015 |  |        | 2014 | 
|                                        |  | (000) |       
|UK, France, Germany and The Netherlands |  |         | 71,099 |  |      |  | 62,448 |      |  |  | 55,121 | 
|Rest of Europe                          |  |         | 19,807 |  |      |  | 16,246 |      |  |  | 14,103 | 
|Corporate                               |  |         | 545    |  |      |  | 434    |      |  |  | 0      | 
|                                        |  |         |        |  |      |  |        |      |  |  |        | 
|                                        |  |         | 91,451 |  |      |  | 79,128 |      |  |  | 69,224 | 
|                                        |  |         |        |  |      |  |        |      |  |  |        | 

The aging of trade receivables as at the reporting date was:



|                         |  |         |        |  |           |  |     |       |  |  |           |  |  |       |     |  |           |  |        |  |  |  |     | 
|------------------------ |  | ------- | ------ |  | --------- |  | --- | ----- |  |  | --------- |  |  | ----- | --- |  | --------- |  | ------ |  |  |  | --- | 
|                         |  | 2016    |        |  | 2015      |  |     | 2014  | 
|                         |  | Gross   |        |  | Allowance |  |     | Gross |  |  | Allowance |  |  | Gross |     |  | Allowance | 
|                         |  | (000) |       
|Not past due             |  |         | 69,771 |  |           |  |    |       |  |  | 66,016    |  |  |       |    |  |           |  | 57,009 |  |  |  |    | 
|Past due 030 days       |  |         | 12,027 |  |           |  |    |       |  |  | 7,569     |  |  |       |    |  |           |  | 7,511  |  |  |  |    | 
|Past due 31120 days     |  |         | 7,329  |  |           |  | 8   |       |  |  | 3,589     |  |  |       | 20  |  |           |  | 3,640  |  |  |  | 91  | 
|Past due 120 days1 year |  |         | 2,358  |  |           |  | 234 |       |  |  | 1,797     |  |  |       | 111 |  |           |  | 1,262  |  |  |  | 122 | 
|More than 1 year         |  |         | 324    |  |           |  | 116 |       |  |  | 349       |  |  |       | 61  |  |           |  | 75     |  |  |  | 60  | 
|                         |  |         |        |  |           |  |     |       |  |  |           |  |  |       |     |  |           |  |        |  |  |  |     | 
|                         |  |         | 91,809 |  |           |  | 358 |       |  |  | 79,320    |  |  |       | 192 |  |           |  | 69,497 |  |  |  | 273 | 
|                         |  |         |        |  |           |  |     |       |  |  |           |  |  |       |     |  |           |  |        |  |  |  |     | 

The movement in the allowance for impairment in respect of trade receivables during the year was as follows:



|                           |  |         |      |   |      |  |      |      |  |  |      |  
|-------------------------- |  | ------- | ---- | - | ---- |  | ---- | ---- |  |  | ---- | -
|                           |  | 2016    |      |   | 2015 |  |      | 2014 | 
|                           |  | (000) |     
|Balance as at 1 January    |  |         | 192  |   |      |  | 273  |      |  |  | 239  |  
|Impairment loss recognized |  |         | 285  |   |      |  | 144  |      |  |  | 219  |  
|Write-offs                 |  |         | (119 | ) |      |  | (225 | )    |  |  | (185 | )
|                           |  |         |      |   |      |  |      |      |  |  |      |  
|Balance as at 31 December  |  |         | 358  |   |      |  | 192  |      |  |  | 273  |  
|                           |  |         |      |   |      |  |      |      |  |  |      |  

Based on historic default rates, the Group believes that no impairment allowance is necessary in respect of
trade receivables other than those that have been specifically provided for.



F-51



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##### Table of Contents

Liquidity risk

The following are the contractual maturities of financial liabilities, including interest payments and excluding the impact of netting
agreements.

December 31, 2016



|                            |  |                |         |  |                       |  |           |                 |  |  |                    |  |  |                  |         |  |  |  |         | 
|--------------------------- |  | -------------- | ------- |  | --------------------- |  | --------- | --------------- |  |  | ------------------ |  |  | ---------------- | ------- |  |  |  | ------- | 
|                            |  | Carryingamount |         |  | Contractualcash flows |  |           | Less than1 year |  |  | Between1 - 5 years |  |  | More than5 years |        
|                            |  | (000)        |        
|Financial liabilities       |  |                |         |  |                       |  |           |                 |  |  |                    |  |  |                  |         |  |  |  |         | 
|Senior Secured Notes        |  |                | 629,327 |  |                       |  | 775,000   |                 |  |  | 37,500             |  |  |                  | 737,500 |  |  |  |        | 
|Finance lease liabilities   |  |                | 51,718  |  |                       |  | 75,394    |                 |  |  | 4,346              |  |  |                  | 31,904  |  |  |  | 39,144  | 
|Mortgages                   |  |                | 54,412  |  |                       |  | 60,792    |                 |  |  | 12,137             |  |  |                  | 28,980  |  |  |  | 19,675  | 
|Trade and other payables(1) |  |                | 95,803  |  |                       |  | 95,803    |                 |  |  | 95,624             |  |  |                  | 26      |  |  |  | 153     | 
|                            |  |                |         |  |                       |  |           |                 |  |  |                    |  |  |                  |         |  |  |  |         | 
|                            |  |                | 831,260 |  |                       |  | 1,006,989 |                 |  |  | 149,607            |  |  |                  | 798,410 |  |  |  | 58,972  | 
|                            |  |                |         |  |                       |  |           |                 |  |  |                    |  |  |                  |         |  |  |  |         | 
|                            |  |                |         |  |                      
|31 December 2015            |  |                |         |  |                       |  |           |                 |  |  |                    |  |  |                  |         |  |  |  |         | 
|                            |  |                |         |  |                      
|                            |  | Carryingamount |         |  | Contractualcash flows |  |           | Less than1 year |  |  | Between1 - 5 years |  |  | More than5 years |        
|                            |  | (000)        |        
|Financial liabilities       |  |                |         |  |                       |  |           |                 |  |  |                    |  |  |                  |         |  |  |  |         | 
|Senior Secured Notes        |  |                | 475,503 |  |                       |  | 617,500   |                 |  |  | 28,500             |  |  |                  | 589,000 |  |  |  |        | 
|Finance lease liabilities   |  |                | 34,582  |  |                       |  | 53,244    |                 |  |  | 2,990              |  |  |                  | 30,230  |  |  |  | 20,024  | 
|Mortgages                   |  |                | 44,073  |  |                       |  | 49,748    |                 |  |  | 4,466              |  |  |                  | 34,120  |  |  |  | 11,162  | 
|Other loans                 |  |                | 1,605   |  |                       |  | 1,629     |                 |  |  | 1,629              |  |  |                  |        |  |  |  |        | 
|Trade and other payables(1) |  |                | 89,743  |  |                       |  | 89,743    |                 |  |  | 89,743             |  |  |                  |        |  |  |  |        | 
|                            |  |                |         |  |                       |  |           |                 |  |  |                    |  |  |                  |         |  |  |  |         | 
|                            |  |                | 645,506 |  |                       |  | 811,864   |                 |  |  | 127,328            |  |  |                  | 653,350 |  |  |  | 31,186  | 
|                            |  |                |         |  |                       |  |           |                 |  |  |                    |  |  |                  |         |  |  |  |         | 
|                            |  |                |         |  |                      
|December 31, 2014           |  |                |         |  |                       |  |           |                 |  |  |                    |  |  |                  |         |  |  |  |         | 
|                            |  |                |         |  |                      
|                            |  | Carryingamount |         |  | Contractualcash flows |  |           | Less than1 year |  |  | Between1 - 5 years |  |  | More than5 years |        
|                            |  | (000)        |        
|Financial liabilities       |  |                |         |  |                       |  |           |                 |  |  |                    |  |  |                  |         |  |  |  |         | 
|Senior Secured Notes        |  |                | 475,643 |  |                       |  | 646,000   |                 |  |  | 28,500             |  |  |                  | 114,000 |  |  |  | 503,500 | 
|Finance lease liabilities   |  |                | 52,857  |  |                       |  | 74,848    |                 |  |  | 21,604             |  |  |                  | 31,964  |  |  |  | 21,280  | 
|Mortgages                   |  |                | 31,487  |  |                       |  | 36,783    |                 |  |  | 3,246              |  |  |                  | 20,767  |  |  |  | 12,770  | 
|Other loans                 |  |                | 1,605   |  |                       |  | 1,726     |                 |  |  | 96                 |  |  |                  | 1,630   |  |  |  |        | 
|Trade and other payables(1) |  |                | 81,919  |  |                       |  | 81,919    |                 |  |  | 81,919             |  |  |                  |        |  |  |  |        | 
|                            |  |                |         |  |                       |  |           |                 |  |  |                    |  |  |                  |         |  |  |  |         | 
|                            |  |                | 643,511 |  |                       |  | 841,276   |                 |  |  | 135,365            |  |  |                  | 168,361 |  |  |  | 537,550 | 
|                            |  |                |         |  |                       |  |           |                 |  |  |                    |  |  |                  |         |  |  |  |         | 



Notes:

|(1) | The carrying amount excludes accrued interest on Senior Secured Notes and mortgages, deferred revenues and rental holidays.
|--- | ---------------------------------------------------------------------------------------------------------------------------



F-52



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##### Table of Contents

Market risk

Exposure to currency risk

The following
significant exchange rates applied during the year:



|      |  |              |       |  |                          |  |       |      |  |  |       |  |  |      |       |  |      |  |       |  |  |  |       | 
|----- |  | ------------ | ----- |  | ------------------------ |  | ----- | ---- |  |  | ----- |  |  | ---- | ----- |  | ---- |  | ----- |  |  |  | ----- | 
|      |  | Average rate |       |  | Report datemid-spot rate | 
|      |  | 2016         |       |  | 2015                     |  |       | 2014 |  |  | 2016  |  |  | 2015 |       |  | 2014 | 
|Euro  |  |              |       |  |                          |  |       |      |  |  |       |  |  |      |       |  |      |  |       |  |  |  |       | 
|GBP 1 |  |              | 1.220 |  |                          |  | 1.379 |      |  |  | 1.241 |  |  |      | 1.167 |  |      |  | 1.357 |  |  |  | 1.278 | 
|CHF 1 |  |              | 0.918 |  |                          |  | 0.937 |      |  |  | 0.823 |  |  |      | 0.931 |  |      |  | 0.923 |  |  |  | 0.831 | 
|DKK 1 |  |              | 0.134 |  |                          |  | 0.134 |      |  |  | 0.134 |  |  |      | 0.135 |  |      |  | 0.134 |  |  |  | 0.134 | 
|SEK 1 |  |              | 0.106 |  |                          |  | 0.107 |      |  |  | 0.110 |  |  |      | 0.104 |  |      |  | 0.109 |  |  |  | 0.105 | 

Sensitivity analysis

A 10% strengthening of the euro against the following currencies at December 31, would have increased (decreased) equity and profit or
loss by approximately the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remained constant and was performed on the same basis for 2015 and 2014.



|                 |  |         |        |   |               |  |        |  
|---------------- |  | ------- | ------ | - | ------------- |  | ------ | -
|                 |  | Equity  |        |   | Profit orloss | 
|                 |  | (000) |       
|31 December 2016 |  |         |        |   |               |  |        |  
|GBP              |  |         | (3,490 | ) |               |  | (127   | )
|CHF              |  |         | (4,990 | ) |               |  | (186   | )
|DKK              |  |         | (2,268 | ) |               |  | (211   | )
|SEK              |  |         | (1,179 | ) |               |  | 38     |  
|31 December 2015 |  |         |        |   |               |  |        |  
|GBP              |  |         | (3,848 | ) |               |  | (1,290 | )
|CHF              |  |         | (4,757 | ) |               |  | (148   | )
|DKK              |  |         | (2,042 | ) |               |  | (186   | )
|SEK              |  |         | (356   | ) |               |  | (137   | )
|31 December 2014 |  |         |        |   |               |  |        |  
|GBP              |  |         | (2,415 | ) |               |  | (903   | )
|CHF              |  |         | (4,138 | ) |               |  | (23    | )
|DKK              |  |         | (1,763 | ) |               |  | (155   | )
|SEK              |  |         | (212   | ) |               |  | 117    |  

A 10% weakening of the euro against the above currencies at December 31, would have had the equal, but
opposite, effect to the amounts shown above, on the basis that all other variables remained constant.



F-53



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##### Table of Contents

Interest rate risk

Profile

At the reporting date, the
interest rate profile of the Groups interest-bearing financial instruments was:



|                          |  |                 |         |  |      |  |         |      |  |  |         | 
|------------------------- |  | --------------- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                          |  | Carrying amount |        
|                          |  | 2016            |         |  | 2015 |  |         | 2014 | 
|                          |  | (000)         |        
|Fixed-rate instruments    |  |                 |         |  |      |  |         |      |  |  |         | 
|Senior Secured Notes      |  |                 | 629,327 |  |      |  | 475,503 |      |  |  | 475,643 | 
|Finance lease liabilities |  |                 | 51,718  |  |      |  | 34,582  |      |  |  | 52,857  | 
|Mortgages                 |  |                 | 5,400   |  |      |  | 5,870   |      |  |  | 6,341   | 
|Other loans               |  |                 |        |  |      |  | 1,605   |      |  |  | 1,605   | 
|                          |  |                 |         |  |      |  |         |      |  |  |         | 
|                          |  |                 | 686,445 |  |      |  | 517,560 |      |  |  | 536,446 | 
|Variable-rate instruments |  |                 |         |  |      |  |         |      |  |  |         | 
|Mortgages                 |  |                 | 49,012  |  |      |  | 38,203  |      |  |  | 25,146  | 
|                          |  |                 |         |  |      |  |         |      |  |  |         | 
|                          |  |                 | 735,457 |  |      |  | 555,763 |      |  |  | 561,592 | 
|                          |  |                 |         |  |      |  |         |      |  |  |         | 

The mortgages on the PAR3 land, owned by Interxion Real Estate II Sarl, and the PAR5 land, owned by Interxion
Real Estate III Sarl have variable interest rates based on EURIBOR plus an individual margin ranging from 240 to 280 basis points. The interest rates have been fixed for 75% of the principal outstanding amount for a period of ten years, which has
been reflected in the table above.

Cash flow sensitivity analysis for fixed-rate instruments

The Group does not account for any fixed-rate financial assets and liabilities at fair value through profit and loss, and does not designate
derivatives (interest rate swaps) as hedging instruments under a fair value hedge accounting model. A change in interest rates at the end of the reporting period would, therefore, not affect profit or loss.

Cash flow sensitivity analysis for variable rate instruments

A change of 100 basis points in interest rates payable at the reporting date would have increased (decreased) equity and profit or loss by the
amounts shown below. This analysis assumes that all other variables, in particular foreign currency rates, remained constant.



|                          |  |                |      |   |                |  |     |                |  |  |                |   |  |  |    | 
|------------------------- |  | -------------- | ---- | - | -------------- |  | --- | -------------- |  |  | -------------- | - |  |  | -- | 
|                          |  | Profit or loss |      |   | Equity         | 
|                          |  | 100 bpincrease |      |   | 100 bpdecrease |  |     | 100 bpincrease |  |  | 100 bpdecrease |  
|                          |  | (000)        |     
|31 December 2016          |  |                |      |   |                |  |     |                |  |  |                |   |  |  |    | 
|Variable rate instruments |  |                | (478 | ) |                |  | 478 |                |  |  | (84            | ) |  |  | 84 | 
|31 December 2015          |  |                |      |   |                |  |     |                |  |  |                |   |  |  |    | 
|Variable rate instruments |  |                | (261 | ) |                |  | 261 |                |  |  | (91            | ) |  |  | 91 | 
|31 December 2014          |  |                |      |   |                |  |     |                |  |  |                |   |  |  |    | 
|Variable rate instruments |  |                | (251 | ) |                |  | 251 |                |  |  | (91            | ) |  |  | 91 | 



F-54



---

##### Table of Contents

Fair values and hierarchy

Fair values versus carrying amounts

As of
December 31, 2016, the market price of the 6.00% Senior Secured Notes due 2020 was 105.045 (2015: 105.780 and 2014: 105.005). Using this market price, the fair value of the Senior Secured Notes due 2020 would have been approximately
657 million, compared with their nominal value of 625.0 million. In 2015 the value of the notes was 502 million compared with a nominal value of 475 million.

Until 2014, the Group had a financial asset carried at fair value, its investment in iStreamPlanet Inc. This investment was sold during 2015.
In addition, the Group had a cash flow hedge carried at a negative fair value, to hedge the interest rate risk of part of two mortgages.

As of December 31, 2016, the fair value of all mortgages would have been equal to their carrying amount of 54.4 million. As of
31 December 2016, the fair value of the financial lease liabilities would have been 55.6 million compared with their carrying amount of 51.7 million.

As of December 31, 2016, the fair value of the conversion option in the convertible loan to Icolo Ltd., is nil.

Fair-value hierarchy

The Company
regularly reviews significant unobservable inputs and valuation adjustments. If third party information, such as broker quotes or pricing services, is used to measure fair values, then the Company assesses the evidence obtained from the third
parties to support the conclusion that such valuations meet the requirements of IFRS, including the level in the fair value hierarchy in which such valuations should be classified. Significant valuation issues are reported to the Companys
Audit Committee.

When measuring the fair value of an asset or a liability, the Company uses observable market data as far as possible.
Fair values are categorized into different levels in a fair-value hierarchy based on the inputs used in the valuation techniques as follows:



|         |  |  |  |                                                                                                                                                                                   
|-------- |  |  |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Level 1: |  |  |  | quoted prices (unadjusted) in active markets for identical assets or liabilities;                                                                                                 
|         |  | 
|Level 2: |  |  |  | inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices);
|         |  | 
|Level 3: |  |  |  | inputs for the asset or liability that are not based on observable market data (unobservable inputs).                                                                             

If the inputs used to measure the fair-value of an asset or a liability fall into different levels of the
fair-value hierarchy, then the fair-value measurement is categorized in its entirety at the same level of the fair-value hierarchy as the lowest level input that is significant to the entire measurement. The Company recognizes transfers between
levels of the fair-value hierarchy at the end of the reporting period during which the change has occurred.



F-55



---

##### Table of Contents

The values of the instruments are:



|                                    |  |                |          |   |            |  |          |         |  |  |         |   |  |  |     | 
|----------------------------------- |  | -------------- | -------- | - | ---------- |  | -------- | ------- |  |  | ------- | - |  |  | --- | 
|                                    |  | Carrying value |          |   | Fair value | 
|                                    |  |                |          |   | Level 1    |  |          | Level 2 |  |  | Level 3 |  
|31 December 2016                    |  |                |          |   |            |  |          |         |  |  |         |   |  |  |     | 
|Senior secured notes 6.00% due 2020 |  |                | (629,327 | ) |            |  | (657,000 | )       |  |  |        |   |  |  |    | 
|Finance leases                      |  |                | (51,718  | ) |            |  |         |         |  |  | (55,625 | ) |  |  |    | 
|Mortgages                           |  |                | (54,412  | ) |            |  |         |         |  |  | (54,412 | ) |  |  |    | 
|Interest rate swap                  |  |                | (367     | ) |            |  |         |         |  |  | (367    | ) |  |  |    | 
|Conversion option                   |  |                | 0        |   |            |  |         |         |  |  |        |   |  |  | 0   | 
|31 December 2015                    |  |                |          |   |            |  |          |         |  |  |         |   |  |  |     | 
|Senior secured notes 6.00% due 2020 |  |                | (475,503 | ) |            |  | (502,000 | )       |  |  |        |   |  |  |    | 
|Finance leases                      |  |                | (34,582  | ) |            |  |         |         |  |  | (41,012 | ) |  |  |    | 
|Mortgages                           |  |                | (44,073  | ) |            |  |         |         |  |  | (44,073 | ) |  |  |    | 
|Interest rate swap                  |  |                | (321     | ) |            |  |         |         |  |  | (321    | ) |  |  |    | 
|31 December 2014                    |  |                |          |   |            |  |          |         |  |  |         |   |  |  |     | 
|Senior secured notes 6.00% due 2020 |  |                | (475,643 | ) |            |  | (499,000 | )       |  |  |        |   |  |  |    | 
|Finance leases                      |  |                | (52,857  | ) |            |  |         |         |  |  | (60,200 | ) |  |  |    | 
|Mortgages                           |  |                | (31,487  | ) |            |  |         |         |  |  | (31,487 | ) |  |  |    | 
|Interest rate swap                  |  |                | (368     | ) |            |  |         |         |  |  | (368    | ) |  |  |    | 
|Financial asset                     |  |                | 774      |   |            |  |         |         |  |  |        |   |  |  | 774 | 

No changes in levels of hierarchy, or transfers between levels, occurred in the reporting period. Fair values
were obtained from quoted market prices in active markets or, where no active market exists, by using valuation techniques. Valuation techniques include discounted cash flow models using inputs as market interest rates and cash flows.

The financial asset, which was in Level 3 until 2014, was been sold during the year. The profit realized on this divestment is disclosed
in note 9. The conversion option relates to the convertible loan given to Icolo Ltd, and has no value as at December 31, 2016.

Capital management

The Boards policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain
future development of the business. The Board of Directors monitors the return on capital.

The Groups net debt to equity ratio at
the reporting date was as follows:



|                         |  |         |          |   |      |  |         |      |  |  |         |  
|------------------------ |  | ------- | -------- | - | ---- |  | ------- | ---- |  |  | ------- | -
|                         |  | 2016    |          |   | 2015 |  |         | 2014 | 
|                         |  | (000) |         
|Net debt                 |  |         |          |   |      |  |         |      |  |  |         |  
|Total liabilities        |  |         | 933,896  |   |      |  | 744,647 |      |  |  | 736,958 |  
|Less: cash               |  |         | (115,893 | ) |      |  | (53,686 | )    |  |  | (94,637 | )
|                         |  |         |          |   |      |  |         |      |  |  |         |  
|                         |  |         | 818,003  |   |      |  | 690,961 |      |  |  | 642,321 |  
|Equity                   |  |         |          |   |      |  |         |      |  |  |         |  
|Total equity             |  |         | 548,769  |   |      |  | 507,417 |      |  |  | 436,145 |  
|                         |  |         |          |   |      |  |         |      |  |  |         |  
|Net debt to equity ratio |  |         | 1.49     |   |      |  | 1.36    |      |  |  | 1.47    |  
|                         |  |         |          |   |      |  |         |      |  |  |         |  



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##### Table of Contents

|22 | Share-based payments
|-- | --------------------

Summary of outstanding options and restricted shares as of December 31,
2016

The terms and conditions of the grants (excluding restricted shares and performance share grants), under the 2011 and 2013 Option
Plans with an USD exercise price, were as follows:



|           |  |                     |  |                    |             |  |             |  |     |             |  |  |     | 
|---------- |  | ------------------- |  | ------------------ | ----------- |  | ----------- |  | --- | ----------- |  |  | --- | 
|Grant date |  | Employees entitled  |  | Exerciseprice in $ |             |  | Outstanding |  |     | Exercisable | 
|           |  |                     |  | (in thousands)     |            
|2011       |  | Executive Director  |  |                    | 14.74       |  |             |  | 300 |             |  |  | 300 | 
|           |  | Senior employees    |  |                    | 10.00-14.65 |  |             |  | 152 |             |  |  | 152 | 
|2012       |  | Key management      |  |                    | 10.00       |  |             |  | 109 |             |  |  | 109 | 
|           |  | Senior employees    |  |                    | 13.67-22.64 |  |             |  | 1   |             |  |  | 1   | 
|2013       |  | Key management      |  |                    | 10.00       |  |             |  | 6   |             |  |  | 5   | 
|           |  | Senior employees    |  |                    | 10.00-15.00 |  |             |  | 31  |             |  |  | 24  | 
|2014       |  | Senior employees    |  |                    | 17.50       |  |             |  | 99  |             |  |  | 65  | 
|2015       |  | Senior employees    |  |                    | 24.60-27.26 |  |             |  | 77  |             |  |  | 31  | 
|2016       |  | Senior employees    |  |                    | 27.14-34.00 |  |             |  | 90  |             |  |  | 2   | 
|           |  |                     |  |                    |             |  |             |  |     |             |  |  |     | 
|           |  | Total share options |  |                    |             |  |             |  | 865 |             |  |  | 689 | 
|           |  |                     |  |                    |             |  |             |  |     |             |  |  |     | 

Share options granted from 2011 onwards, under the 2011 and 2013 Option Plans, generally vest over four years
and can be exercised up to eight years after the date of grant. The options granted in 2011 to the Companys Executive Director, Non-executive Directors and certain employees have an accelerated vesting
term.

The number and weighted average exercise prices of outstanding share options, post reverse stock-split, under the 2008 Option Plan
with euro exercise prices are as follows:



|                          |  |                                      |   |  |                                |  |      |      |  |  |      |  |  |      |   |  |      |  |     |   |  |  |     |  
|------------------------- |  | ------------------------------------ | - |  | ------------------------------ |  | ---- | ---- |  |  | ---- |  |  | ---- | - |  | ---- |  | --- | - |  |  | --- | -
|                          |  | Weighted average exercise price in  |   |  | Number of options in thousands | 
|                          |  | 2016                                 |   |  | 2015                           |  |      | 2014 |  |  | 2016 |  |  | 2015 |   |  | 2014 | 
|Outstanding at 1 January  |  |                                      |  |  |                                |  | 7.19 |      |  |  | 5.46 |  |  |      |  |  |      |  | 14  |   |  |  | 112 |  
|Granted                   |  |                                      |  |  |                                |  |     |      |  |  |     |  |  |      |  |  |      |  |    |   |  |  |    |  
|Exercised                 |  |                                      |  |  |                                |  | 7.19 |      |  |  | 5.05 |  |  |      |  |  |      |  | (14 | ) |  |  | (94 | )
|Expired                   |  |                                      |  |  |                                |  |     |      |  |  |     |  |  |      |  |  |      |  |    |   |  |  |    |  
|Forfeited                 |  |                                      |  |  |                                |  |     |      |  |  | 6.50 |  |  |      |  |  |      |  |    |   |  |  | (4  | )
|                          |  |                                      |   |  |                                |  |      |      |  |  |      |  |  |      |   |  |      |  |     |   |  |  |     |  
|Outstanding  31 December |  |                                      |  |  |                                |  |     |      |  |  | 7.19 |  |  |      |  |  |      |  |    |   |  |  | 14  |  
|Exercisable  31 December |  |                                      |  |  |                                |  |     |      |  |  | 7.19 |  |  |      |  |  |      |  |    |   |  |  | 14  |  
|                          |  |                                      |   |  |                                |  |      |      |  |  |      |  |  |      |   |  |      |  |     |   |  |  |     |  



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##### Table of Contents

The number and weighted average exercise prices of outstanding share options under the 2011 and
2013 Option Plans, excluding the restricted shares and performance share grants, with US dollar exercise prices are as follows:



|                          |  |                                      |       |  |                                |  |       |      |  |  |       |  |  |      |       |   |      |  |       |   |  |  |       |  
|------------------------- |  | ------------------------------------ | ----- |  | ------------------------------ |  | ----- | ---- |  |  | ----- |  |  | ---- | ----- | - | ---- |  | ----- | - |  |  | ----- | -
|                          |  | Weighted average exercise price in $ |       |  | Number of options in thousands | 
|                          |  | 2016                                 |       |  | 2015                           |  |       | 2014 |  |  | 2016  |  |  | 2015 |       |   | 2014 | 
|Outstanding at 1 January  |  |                                      | 14.98 |  |                                |  | 14.35 |      |  |  | 14.13 |  |  |      | 1,264 |   |      |  | 1,641 |   |  |  | 1,792 |  
|Granted                   |  |                                      | 31.20 |  |                                |  | 25.17 |      |  |  | 18.46 |  |  |      | 94    |   |      |  | 90    |   |  |  | 180   |  
|Exercised                 |  |                                      | 14.90 |  |                                |  | 14.23 |      |  |  | 14.60 |  |  |      | (479  | ) |      |  | (423  | ) |  |  | (266  | )
|Expired                   |  |                                      |      |  |                                |  |      |      |  |  |      |  |  |      |      |   |      |  |      |   |  |  |      |  
|Forfeited                 |  |                                      | 20.49 |  |                                |  | 19.29 |      |  |  | 18.71 |  |  |      | (14   | ) |      |  | (44   | ) |  |  | (65   | )
|                          |  |                                      |       |  |                                |  |       |      |  |  |       |  |  |      |       |   |      |  |       |   |  |  |       |  
|Outstanding  31 December |  |                                      | 16.70 |  |                                |  | 14.98 |      |  |  | 14.35 |  |  |      | 865   |   |      |  | 1,264 |   |  |  | 1,641 |  
|Exercisable  31 December |  |                                      | 14.22 |  |                                |  | 14.24 |      |  |  | 14.17 |  |  |      | 689   |   |      |  | 1,030 |   |  |  | 1,132 |  
|                          |  |                                      |       |  |                                |  |       |      |  |  |       |  |  |      |       |   |      |  |       |   |  |  |       |  

The options outstanding at December 31, 2016 have a weighted average remaining contractual life of 3.9
years (2015: 4.2 years and 2014: 5.1 years).

For the services delivered in 2014, a total of 9,980 restricted shares were granted to the Non-executive Directors (1,996 restricted shares each). Of these shares, 3,992 were cancelled because two Non-executive Directors resigned before vesting. The remaining 5,988
restricted shares vested as at June 30, 2015 and were issued and transferred to the Non-executive Directors in July 2015.

On June 30, 2015, the Annual General Meeting of Shareholders approved to award restricted shares equivalent to a value of 40,000
under the terms and conditions of the 2013 Option Plan to each of our Non-executive Directors (1,615 restricted shares each) for their services to be provided for the period between the 2015 Annual General
Meeting and the 2016 Annual General Meeting. A total of 6,460 restricted shares were granted.

On June 30, 2016, the Annual General
Meeting of Shareholders approved the award of restricted shares, equivalent to a value of 40,000 under the terms and conditions of the 2013 Option Plan, to each of our Non-executive Directors (1,234
restricted shares each) for their services to be provided for the period between the 2016 Annual General Meeting and the 2017 Annual General Meeting. A total of 4,936 restricted shares were granted.

With regard to the performance period of 2014, the Board of Directors approved the conditional award of performance shares in December 2014
for certain members of key management and the Executive Director under the terms and conditions of the Companys 2013 Amended International Equity Based Incentive Plan on the basis of the predetermined,
on-target equity value for 2014 and the Companys average share price during the month of January 2014. The actual initial award of 137,574 performance shares, based on the level of the actual Company and
individual performance from January 1, 2014 to December 31, 2014, was approved by the Board of Directors in February 2015.



| |  |  | With regard to the Executive Director, the first 50% (47,243 performance shares) of the initial award was awarded at the 2015 Annual General Meeting. Of the initial award, 23,621 performance shares vested upon award but
were locked up until December 31, 2015, and 23,622 performance shares vested on January 1, 2016. The remaining 50% (47,242 performance shares) of the initial award was subject to the Companys relative share performance compared with
the S&P SmallCap 600 Index over the period January 1, 2014, to December 31, 2015. The Companys actual relative share performance compared with the S&P SmallCap 600 Index over the period January 1, 2014, to
December 31, 2015 was reviewed in January 2016. The relative performance resulted in a maximum pay out level of 150% of pay or an actual final award of 70,863 performance shares. These 70,863 performance shares were approved at the 2016 Annual
General Meeting. Of these shares, 50% (or 35,432) of the performance shares vested on January 1, 2017, and 50% (or 35,431) will vest on January 1, 2018.
| | - |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | With regard to key members of management, the first 50% of the initial award (21,545 performance shares) was
awarded at the 2015 Annual General Meeting. Of the initial award, 10,773 performance shares vested upon award but were locked up until December 31, 2015, and 10,772 performance shares vested on
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



F-58



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##### Table of Contents

| | January 1, 2016. The remaining 50% of the initial award (21,544 performance shares) was subject to the Companys relative share performance compared with the S&P SmallCap 600 Index
over the period January 1, 2014 to December 31, 2015. The Companys actual relative share performance compared with the S&P SmallCap 600 Index over the period January 1, 2014 to December 31, 2015 was reviewed in January
2016. The relative performance resulted in a maximum pay out level of 150% pay or an actual award of 32,318 performance shares. 50% (or 16,159) of the performance shares vested on January 1, 2017 and 50% (or 16,159) will vest on January 1,
2018.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | Upon change of control, the performance shares will vest immediately and any lock up provisions will expire.
| | - |  | ------------------------------------------------------------------------------------------------------------

With regard to the performance period of 2015, the Board of Directors approved the conditional award of performance shares in March 2015 for
certain members of key management and the Executive Director under the terms and conditions of the Companys 2013 Amended International Equity Based Incentive Plan on the basis of the predetermined, on target equity value for 2015 and the
Companys average share price during the month of January 2015. The actual initial award of 149,600 performance shares, based on the level of the actual Company and individual performance from January 1, 2015 to December 31, 2015, was
approved by the Board of Directors in February 2016.



| |  |  | With regard to the Executive Director, the first 50% (38,287 performance shares) of the initial award was approved at the 2016 Annual General Meeting. Of these shares, 19,144 performance shares of the initial award
vested upon approval but were locked up until December 31, 2016, and 19,143 performance shares vested on January 1, 2017. The remaining 50% (38,287 performance shares) of the initial award are subject to the Companys relative share performance
compared with the S&P SmallCap 600 Index over the period January 1, 2015, to December 31, 2016, and was reviewed in March 2017. The final pay-out is subject to Board approval, and Shareholder approval at the 2017 Annual General Meeting. Should
it be approved, 50% of the performance shares will vest on January 1, 2018, and 50% will vest on January 1, 2019.
| | - |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | With regard to key members of management, the first 50% of the initial award (36,514 performance shares) was awarded at the 2016 Annual General Meeting. Of the initial award, 18,257 performance shares vested upon award
but were locked up until December 31, 2016, and 18,257 performance shares vested on January 1, 2017. The remaining 50% of the initial award (36,512 performance shares) are subject to the Companys relative share performance compared to the
S&P SmallCap 600 Index over the period January 1, 2015 to December 31, 2016. The Companys actual relative share performance compared with the S&P SmallCap 600 Index over the period January 1, 2015 to December 31, 2016 was reviewed
in March 2017. Once the actual final number is approved, 50% of the performance shares will vest on January 1, 2018, and 50% will vest on January 1, 2019.
| | - |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | Upon change of control, the performance shares will vest immediately and any lock up provisions will expire.
| | - |  | ------------------------------------------------------------------------------------------------------------

With regard to the performance period of 2016, the Board of Directors approved the conditional award of performance shares in February 2016
for certain members of key management and the Executive Director under the terms and conditions of the Companys 2013 Amended International Equity Based Incentive Plan on the basis of the predetermined on target equity value for 2016 and the
Companys average share price during the month of January 2016. The actual initial award of 140,261 performance shares, based on the level of the actual Company and individual performance from January 1, 2016 to December 31, 2016, was
approved by the Board of Directors in February 2017.



| |  |  | With regard to the Executive Director, the first 50% (31,902 performance shares) of the initial award is subject to shareholder approval at the 2017 Annual General Meeting. Should they be approved, 15,951 performance
shares of the initial award will vest upon award but will be locked up until December 31, 2017 and 15,951 performance shares will vest on January 1, 2018. The remaining 50% (31,903 performance shares) of the initial award is subject to the
Companys relative share performance compared to the S&P SmallCap 600 Index over the period January 1, 2016 to December 31, 2017. The Companys actual relative share performance compared to the S&P SmallCap 600 Index over
the period January 1, 2016 to December 31, 2017 will be reviewed in January 2018. These performance shares are subject to shareholder approval at the 2018 Annual General Meeting. Should they be approved, 50% of the performance shares will
vest on 1 January 2019, and 50% will vest on January 1, 2020.
| | - |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



F-59



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##### Table of Contents

| |  |  | With regard to key members of management, the first 50% of the initial award (38,228 performance shares) will be awarded at the 2017 Annual General Meeting. Of the initial award, 19,114 performance shares will vest upon
award but will be locked up until December 31, 2017, and 19,114 performance shares will vest on January 1, 2018. The remaining 50% of the initial award (38,228 performance shares) is subject to the Companys relative share performance
compared with the S&P SmallCap 600 Index over the period January 1, 2016, to 31 December 2017. The Companys actual relative share performance compared with the S&P SmallCap 600 Index over the period January 1, 2016, to
December 31, 2017, will be reviewed in January 2018. Once the actual final number is approved, 50% of the performance shares will vest on January 1, 2019, and 50% will vest on January 1, 2020.
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | Upon change of control, the performance shares will vest immediately and any lock up provisions will expire.
| | - |  | ------------------------------------------------------------------------------------------------------------

In 2014, 20,000 restricted shares were awarded to key members of management (not the Executive Director) of which 5,000 vested in January 2015
and 5,000 vested in January 2016. The remaining 10,000 restricted shares will vest 5,000 shares on January 1, 2017, and 2018. Upon a change of control, these restricted shares will vest immediately.

In 2015, 75,000 restricted shares were awarded to a key member of management (not the Executive Director) of which 25,000 vested in the first
quarter of 2015. Half of the remaining 50,000 restricted shares vested on March 1, 2016, and the other 25,000 vested on March 1, 2017. Upon a change of control, these restricted shares will vest immediately.

In 2016, 20,000 restricted shares were awarded to key members of management (not the Executive Director) of which 5,000 vested in January
2017. The remaining 15,000 restricted shares will vest 5,000 shares on January 1, 2018, 2019 and 2020. Upon a change of control, these restricted shares will vest immediately.

The number of restricted shares outstanding at December 31, 2016, 2015 and 2014, is broken down as follows:



|                          |  |                             |      |   |      |  |      |      |  |  |     |  
|------------------------- |  | --------------------------- | ---- | - | ---- |  | ---- | ---- |  |  | --- | -
|                          |  | Number of restricted shares |     
|                          |  | (in Thousands)              |     
|                          |  | 2016                        |      |   | 2015 |  |      | 2014 | 
|Outstanding at 1 January  |  |                             | 308  |   |      |  | 272  |      |  |  | 12  |  
|Granted                   |  |                             | 92   |   |      |  | 158  |      |  |  | 351 |  
|Vested                    |  |                             | (124 | ) |      |  | (118 | )    |  |  | (91 | )
|Expired                   |  |                             |     |   |      |  |     |      |  |  |    |  
|Forfeited                 |  |                             | (23  | ) |      |  | (4   | )    |  |  |    |  
|                          |  |                             |      |   |      |  |      |      |  |  |     |  
|Outstanding  31 December |  |                             | 253  |   |      |  | 308  |      |  |  | 272 |  
|                          |  |                             |      |   |      |  |      |      |  |  |     |  

The restricted shares outstanding at December 31, 2016 have a weighted average remaining contractual life of
1.9 years (2015: 2.1 years; 2014: 2.1 years).

The number of performance shares outstanding at December 31, 2016, 2015 and 2014 is broken
down as follows:



|                          |  |                              |     |   |      |  |     |      |  |  |     |  
|------------------------- |  | ---------------------------- | --- | - | ---- |  | --- | ---- |  |  | --- | -
|                          |  | Number of performance shares |    
|                          |  | (in Thousands)               |    
|                          |  | 2016                         |     |   | 2015 |  |     | 2014 | 
|Outstanding at 1 January  |  |                              | 237 |   |      |  |    |      |  |  |    |  
|Granted                   |  |                              | 185 |   |      |  | 272 |      |  |  | 107 |  
|Vested                    |  |                              | (72 | ) |      |  | (35 | )    |  |  | (27 | )
|Expired                   |  |                              |    |   |      |  |    |      |  |  |    |  
|Forfeited                 |  |                              |    |   |      |  |    |      |  |  | (80 | )
|                          |  |                              |     |   |      |  |     |      |  |  |     |  
|Outstanding  31 December |  |                              | 350 |   |      |  | 237 |      |  |  |    |  
|                          |  |                              |     |   |      |  |     |      |  |  |     |  



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##### Table of Contents

Employee expenses

In 2016, the Company recorded employee expenses of 6,343,000 related to share-based payments (2015: 7,161,000 and 2014:
6,576,000). The 2016 share-based payments related expenses include an amount of 238,000 related to taxes and social security charges (2015: 643,000 and 2014: 92,000).

The weighted average fair value at grant date of options granted during the period was determined using the Black-Scholes valuation model. The
following inputs were used:



|                                                          |  |      |             |   |      |  |             |      |  |  |             |  
|--------------------------------------------------------- |  | ---- | ----------- | - | ---- |  | ----------- | ---- |  |  | ----------- | -
|                                                          |  | 2016 |             |   | 2015 |  |             | 2014 | 
|Share price in  at grant date (post reverse stock split) |  |      | 28.09-33.89 |   |      |  | 23.84-28.46 |      |  |  | 17.04-22.31 |  
|Exercise price in  (post-reverse stock split)            |  |      | 24.27-30.47 |   |      |  | 21.61-24.95 |      |  |  | 12.68-18.61 |  
|Dividend yield                                            |  |      | 0           | % |      |  | 0           | %    |  |  | 0           | %
|Expected volatility                                       |  |      | 30          | % |      |  | 30          | %    |  |  | 35          | %
|Risk-free interest rate                                   |  |      | 1.2         | % |      |  | 0.0%-0.4    | %    |  |  | 0.2%-0.8    | %
|Expected life weighted average                            |  |      | 5.0 years   |   |      |  | 5.1 years   |      |  |  | 5.1 years   |  

The significant inputs into the model were:



| |  |  | expected volatility is based on a combination of the share performance of the Company over a five-year period;
| | - |  | --------------------------------------------------------------------------------------------------------------



| |  |  | the risk-free interest rate based on the yield on U.S. Treasury Strips with a maturity similar to the expected life of the options;
| | - |  | -----------------------------------------------------------------------------------------------------------------------------------



| |  |  | dividend yield is considered to be nil;
| | - |  | ---------------------------------------



| |  |  | expected life is considered to be equal to the average of the share option exercise and vesting periods.
| | - |  | --------------------------------------------------------------------------------------------------------

The weighted average fair value at grant date of the performance shares granted during the period was determined using the Monte Carlo
valuation model. In addition to the above-mentioned inputs a one year holding discount of 5.5% was used as input for the performance shares.

Change of
control clauses

Some awards to key management contain change of control clauses. If after a change of control of the Company
(including any of its successors), the employment agreement is terminated or if the participant is offered a function, which is a material demotion to his current position, all options, restricted and performance shares will vest and become
exercisable immediately. Should the employment agreement, other than as the result of a change of control, be terminated before the date that all options have vested, and should the participant and the Company not have agreed that he will be
providing support or services to the Company in another capacity, the non-vested options will expire with immediate effect.



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##### Table of Contents

|23 | Financial commitments
|-- | ---------------------

(Non-)cancellable operating lease
commitments

At December 31, the Group has future minimum commitments for
(non-)cancellable operating leases with terms in excess of one year as follows:



|                      |  |         |         |  |      |  |         |      |  |  |         | 
|--------------------- |  | ------- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                      |  | 2016    |         |  | 2015 |  |         | 2014 | 
|                      |  | (000) |        
|Within 1 year         |  |         | 28,698  |  |      |  | 30,857  |      |  |  | 31,604  | 
|Between 1 and 5 years |  |         | 118,115 |  |      |  | 125,243 |      |  |  | 117,009 | 
|After 5 years         |  |         | 171,313 |  |      |  | 181,059 |      |  |  | 185,194 | 
|                      |  |         |         |  |      |  |         |      |  |  |         | 
|                      |  |         | 318,125 |  |      |  | 337,159 |      |  |  | 333,807 | 
|                      |  |         |         |  |      |  |         |      |  |  |         | 

The total gross operating lease expense for the year 2016 was 27,500,000 (2015: 27,000,000 and
2014: 25,400,000).

Future committed revenue receivable

The Group enters into initial contracts with its customers for periods of at least one year and generally between three and five years,
resulting in future committed revenues from customers. At December 31 the Group had contracts with customers for future committed revenue receivable as follows:



|                      |  |         |         |  |      |  |         |      |  |  |         | 
|--------------------- |  | ------- | ------- |  | ---- |  | ------- | ---- |  |  | ------- | 
|                      |  | 2016    |         |  | 2015 |  |         | 2014 | 
|                      |  | (000) |        
|Within 1 year         |  |         | 296,600 |  |      |  | 275,400 |      |  |  | 253,100 | 
|Between 1 and 5 years |  |         | 434,900 |  |      |  | 353,600 |      |  |  | 343,500 | 
|After 5 years         |  |         | 52,700  |  |      |  | 76,700  |      |  |  | 90,700  | 
|                      |  |         |         |  |      |  |         |      |  |  |         | 
|                      |  |         | 784,200 |  |      |  | 705,700 |      |  |  | 687,300 | 
|                      |  |         |         |  |      |  |         |      |  |  |         | 

Commitments to purchase energy

Where possible, for its own use, the Group seeks to purchase power on fixed-price term agreements with local power supply companies in the
cities in which it operates. In some cases the Group also commits to purchase certain minimum volumes of energy at fixed prices. At December 31, the Group had entered into non-cancellable energy purchase
commitments as follows:



|                      |  |         |        |  |      |  |        |      |  |  |        | 
|--------------------- |  | ------- | ------ |  | ---- |  | ------ | ---- |  |  | ------ | 
|                      |  | 2016    |        |  | 2015 |  |        | 2014 | 
|                      |  | (000) |       
|Within 1 year         |  |         | 39,100 |  |      |  | 36,400 |      |  |  | 28,000 | 
|Between 1 and 5 years |  |         | 21,000 |  |      |  | 13,700 |      |  |  | 19,100 | 
|                      |  |         |        |  |      |  |        |      |  |  |        | 
|                      |  |         | 60,100 |  |      |  | 50,100 |      |  |  | 47,100 | 
|                      |  |         |        |  |      |  |        |      |  |  |        | 

Other commitments

The Group has entered into several other commitments, which in general relate to operating expenses. As at December 31, 2016, the
outstanding commitments amount to 40,643,000 (2015: 29,470,000, 2014: 22,292,000).



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##### Table of Contents

|24 | Capital commitments
|-- | -------------------

At December 31, 2016, the Group had outstanding capital
commitments totalling 114,131,000 (2015: 66,200,000 and 2014: 62,800,000). These commitments are expected to be settled in the following financial year. The increase results from the timing of expansion projects.



|25 | Contingencies
|-- | -------------

Guarantees

Certain of our subsidiaries have granted guarantees to our lending banks in relation to our borrowings. The Company has granted rent guarantees
to landlords of certain of the Groups property leases. Financial guarantees granted by the Groups banks in respect of leases amount to 4,639,000 (2015: 5,966,000; 2014 5,184,000). Furthermore the Company guaranteed a
third partys future payments in amount of 1,049,000. No other guarantees were granted (2015 and 2014: 53,000).

Site restoration
costs

As at December 31, 2016, the estimated discounted cost and recognized provision relating to the restoration of data center
leasehold premises was nil (2015: 691,000 and 2014: 1,271,000).

In accordance with the Groups accounting policy site
restoration costs have been provided in the financial statements only in respect of premises where the liability is considered probable and the related costs can be estimated reliably. As at December 31, 2016, the Group estimated the possible
liability to range from nil to 24,716,000 (2015: nil to 23,240,000 and 2014: nil to 20,607,000).

Acquisition

On 7 November 2016 the Group entered into a conditional agreement to acquire 100% of the shares of Vancis B.V. This transaction closed in
February 2017. More detailed information regarding this acquisition may be found in note 27 below.



|26 | Related-party transactions
|-- | --------------------------

There are no material transactions with related parties,
other than disclosed below, and all transactions are conducted on an arms length.

Key management compensation

The total compensation of key management was as follows:



|                                                    |  |         |       |  |      |  |       |      |  |  |       | 
|--------------------------------------------------- |  | ------- | ----- |  | ---- |  | ----- | ---- |  |  | ----- | 
|                                                    |  | 2016    |       |  | 2015 |  |       | 2014 | 
|                                                    |  | (000) |      
|Short-term employee benefits (salaries and bonuses) |  |         | 3,473 |  |      |  | 3,341 |      |  |  | 2,445 | 
|Post-employment benefits                            |  |         | 74    |  |      |  | 43    |      |  |  | 50    | 
|Share-based payments                                |  |         | 3,427 |  |      |  | 3,381 |      |  |  | 1,982 | 
|                                                    |  |         |       |  |      |  |       |      |  |  |       | 
|                                                    |  |         | 6,974 |  |      |  | 6,765 |      |  |  | 4,477 | 
|                                                    |  |         |       |  |      |  |       |      |  |  |       | 

Key managements share-based payment compensation is disclosed in Note 22.



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##### Table of Contents

Remuneration of the Executive Director and Non-executive Directors of the Board

The compensation of the Executive Director and the Non-executive Directors of the Board was as
follows:



|                    |  |          |     |   |         |  |     |                           |  |  |       |  |  |          |       |  |       |  |     |                           |  |  |       |  |  |  |     |  |  |  |       | 
|------------------- |  | -------- | --- | - | ------- |  | --- | ------------------------- |  |  | ----- |  |  | -------- | ----- |  | ----- |  | --- | ------------------------- |  |  | ----- |  |  |  | --- |  |  |  | ----- | 
|                    |  | 2016     |     |   | 2015    | 
|                    |  | Salaries |     |   | Bonus   |  |     | Share-basedpaymentcharges |  |  | Total |  |  | Salaries |       |  | Bonus |  |     | Share-basedpaymentcharges |  |  | Total | 
|                    |  | (000)  |     |   | (000) | 
|D.C. Ruberg         |  |          | 590 | 1 |         |  | 597 | 3                         |  |  | 1,189 |  |  |          | 2,376 |  |       |  | 590 | 1                         |  |  | 693   |  |  |  | 821 |  |  |  | 2,104 | 
|J.C. Baker          |  |          |    |   |         |  |    |                           |  |  |      |  |  |          |      |  |       |  | 21  |                           |  |  |      |  |  |  |    |  |  |  | 21    | 
|F. Esser            |  |          | 65  |   |         |  |    |                           |  |  | 40    |  |  |          | 105   |  |       |  | 65  |                           |  |  |      |  |  |  | 27  |  |  |  | 92    | 
|M. Heraghty         |  |          | 70  |   |         |  |    |                           |  |  | 40    |  |  |          | 110   |  |       |  | 68  |                           |  |  |      |  |  |  | 27  |  |  |  | 95    | 
|J.F.H.P. Mandeville |  |          | 115 | 2 |         |  |    |                           |  |  | 40    |  |  |          | 155   |  |       |  | 40  |                           |  |  |      |  |  |  | 27  |  |  |  | 67    | 
|R.M. Manning        |  |          |    |   |         |  |    |                           |  |  |      |  |  |          |      |  |       |  | 17  |                           |  |  |      |  |  |  |    |  |  |  | 17    | 
|R. Ruijter          |  |          | 75  |   |         |  |    |                           |  |  | 40    |  |  |          | 115   |  |       |  | 73  |                           |  |  |      |  |  |  | 65  |  |  |  | 138   | 
|                    |  |          |     |   |         |  |     |                           |  |  |       |  |  |          |       |  |       |  |     |                           |  |  |       |  |  |  |     |  |  |  |       | 
|                    |  |          | 915 |   |         |  | 597 |                           |  |  | 1,349 |  |  |          | 2,861 |  |       |  | 874 |                           |  |  | 693   |  |  |  | 967 |  |  |  | 2,534 | 
|                    |  |          |     |   |         |  |     |                           |  |  |       |  |  |          |       |  |       |  |     |                           |  |  |       |  |  |  |     |  |  |  |       | 



|                    |  |          |     |   |       |  |     |                           |  |  |       |  |  |  |       | 
|------------------- |  | -------- | --- | - | ----- |  | --- | ------------------------- |  |  | ----- |  |  |  | ----- | 
|                    |  | 2014     |    
|                    |  | Salaries |     |   | Bonus |  |     | Share-basedpaymentcharges |  |  | Total | 
|                    |  | (000)  |    
|D.C. Ruberg         |  |          | 590 | 1 |       |  | 613 |                           |  |  | 872   |  |  |  | 2,075 | 
|J.C. Baker          |  |          | 48  |   |       |  |    |                           |  |  | 40    |  |  |  | 88    | 
|F. Esser            |  |          | 33  |   |       |  |    |                           |  |  | 20    |  |  |  | 53    | 
|M. Heraghty         |  |          | 33  |   |       |  |    |                           |  |  | 20    |  |  |  | 53    | 
|J.F.H.P. Mandeville |  |          | 63  |   |       |  |    |                           |  |  | 40    |  |  |  | 103   | 
|R.M. Manning        |  |          | 40  |   |       |  |    |                           |  |  | 40    |  |  |  | 80    | 
|R. Ruijter          |  |          | 10  |   |       |  |    |                           |  |  | 10    |  |  |  | 20    | 
|D. Lister           |  |          | 25  |   |       |  |    |                           |  |  | 22    |  |  |  | 47    | 
|C.G. van Luijk      |  |          | 38  |   |       |  |    |                           |  |  | 20    |  |  |  | 58    | 
|M. Massart          |  |          | 30  |   |       |  |    |                           |  |  | 20    |  |  |  | 50    | 
|                    |  |          |     |   |       |  |     |                           |  |  |       |  |  |  |       | 
|                    |  |          | 910 |   |       |  | 613 |                           |  |  | 1,104 |  |  |  | 2,627 | 
|                    |  |          |     |   |       |  |     |                           |  |  |       |  |  |  |       | 



|1 | Includes allowance of 40,000.
|- | ------------------------------

|2 | Includes 25,000 that has additionally been awarded in relation to the period of July 1, 2015  December 31, 2015.
|- | ------------------------------------------------------------------------------------------------------------------

|3 | Based on performance achievements during 2016, this amount is calculated as 108.6% of base salary.
|- | --------------------------------------------------------------------------------------------------

In total 4,936 restricted shares were granted to the Non-executive Directors (1,234 restricted shares
each), costs related to these grants are reflected as part of share-based payment charges.

The goal of the Companys remuneration
policy is to provide remuneration to its Directors in a form that will attract, retain and motivate qualified industry professionals in an international labour market, and to align the remuneration of the Directors with the short- and long-term
elements of the tasks of the Directors as well as with interests of the stakeholders of the Company. The compensation of our Directors will be reviewed regularly.



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##### Table of Contents

|27 | Events subsequent to the balance sheet date
|-- | -------------------------------------------

Vancis acquisition

On November 7, 2016, the Group entered into a conditional agreement to acquire 100% of the shares of Vancis B.V. On February 23,
2017, the Group signed an agreement to purchase 100% of the shares of Vancis B.V. (Vancis). Vancis operates colocation services from a data center in Amsterdam, with a satellite facility in Almere, The Netherlands. Total consideration
comprises 78.0 million of cash paid immediately upon completion.

Due to the timing of the closing of the acquisition the
initial accounting for the business combination has not yet been finalised as Interxion is in the process of evaluating the fair value of the net assets acquired. As such not all relevant disclosures are available. The company expects the purchase
price allocation work will be substantially completed before issuing its Q1 2017 interim financial statements.

Senior Secured Revolving Facility

On March 9, 2017 we entered into a 75.0 million senior secured revolving facility agreement (the New
Facility) by and among InterXion Holding N.V., the guarantors thereunder, ABN AMRO Bank N.V., Bank of America Merrill Lynch International Limited and Citigroup Global Markets Limited as lenders thereunder, ABN AMRO Bank N.V., as agent and
Barclays Bank PLC as security trustee.

The New Facility has an initial maturity date of 12 months from the date of the New Facility with
the Company having the option to extend the maturity date by a further six-month period in accordance with the terms of the New Facility. The New Facility initially bears interest at a rate per annum equal to
EURIBOR plus a margin of 2.25% per annum, subject to a margin ratchet, pursuant to which the margin may be increased to a maximum of 3.25% per annum if the New Facility is extended up to an additional six months after its initial maturity date.



F-65