Investor relations

Investor relations goal

We are committed in our communications to serving the interests of both private and institutional investors and of both equity and fixed income investors. We work to ensure the disclosure of timely, orderly, consistent and accurate information to the financial community. In doing so we follow, to the extent reasonably practicable, the guidelines and principles set forth in Regulation FD promulgated by the SEC. We encourage analysts to provide research coverage in our efforts to broaden the investment community's understanding of Ahold.

In addition to our quarterly results announcements, we host conference calls and analyst meetings. These are available through our website at www.ahold.com. Contact information can be found at the end of this section. For more background and financial information, we invite you to visit our Investor relations section at www.ahold.com.

Share information

Our authorized share capital as of January 1, 2006 is composed of the following:

• 1,250,000 cumulative preferred shares at EUR 500 par value each;
• 500,000,000 cumulative preferred financing shares at EUR 0.25 par value each; and
• 2,000,000,000 common shares at EUR 0.25 par value each.

For additional information about our share capital, see Notes 23 and 28 to our consolidated financial statements included in this annual report.

We are a public limited liability company registered in the Netherlands with listings of shares or depositary shares on the Amsterdam (AEX), New York (NYSE) and Zurich (SWX) stock exchanges. Euronext Amsterdam is the principal trading market for our common shares. As of January 1, 2006, the register of holders of registered restricted shares contained the names of 86 holders having their registered address in the United States. The common shares trade in the United States on the NYSE in the form of ADSs and are evidenced by ADRs. The ADSs trade under the symbol "AHO."

The Depositary for the ADSs is The Bank of New York. Each ADS evidences the right to receive one common share deposited under a deposit agreement for the ADSs between us and the Depositary dated January 20, 1998. We have been informed by the Depositary that in the U.S., as of December 31, 2005, there were 130,170,424 ADSs outstanding and 50,500 record owners compared with 120,482,052 ADSs outstanding and 59,780 record owners at the end of fiscal year 2004.

Share performance

The table below sets forth the high and low closing prices during the periods indicated for our common shares on Euronext Amsterdam and for our ADSs on the NYSE. The quarters used are our financial quarters.

Closing share prices for the most recent six months are as follows:

Financial data per share

Equity weightings

We are included in a number of stock indices. The table below sets forth our equity weightings in the most relevant indices, as of January 1, 2006.

Geographic spread of shareholders

Dividends

Prior to fiscal year 2003 we customarily declared dividends on our common shares twice a year. An interim dividend was proposed by our Corporate Executive Board and, with the approval of our Supervisory Board, was generally paid in September of each year. The proposed total dividend for the fiscal year was approved by the Annual General Meeting of Shareholders, which typically has been held in May, and the second, or final, portion of the total yearly dividend was paid after this meeting. We declared an interim dividend for fiscal year 2002 in August 2002 that was paid in September 2002 out of reserves. On March 5, 2003, we announced that we would not pay a final dividend on our common shares for fiscal year 2002 in order to strengthen our financial position.

We currently do not pay a dividend to common shareholders. We plan to pay dividends on the cumulative preferred financing shares in 2006 and we paid an annual dividend on such shares in 2005, in each case as required by the terms of such shares.

Any future determination relating to our dividend policy regarding our common shares will be made at the discretion of the Corporate Executive Board and our Supervisory Board and will reflect present performance, future outlook and balance sheet strength.

The following table gives certain information relating to dividends declared in the years indicated.

Share ownership

Dutch Customer Fund

Employees of our subsidiaries in the Netherlands and customers of our supermarket chain, Albert Heijn, are entitled to invest in units in the AH Vaste Klanten Fonds ("AHVKF"). AEGON Investment Management B.V. is responsible for investing the assets of the AHVKF. Currently, approximately half of the funds of the AHVKF are invested in our common shares listed on Euronext Amsterdam. The other half of the funds of the AHVKF were invested in short term deposits with banks. As of year-end 2005, the AHVKF held 14,434,178 common shares, which is 0.9% of our outstanding common shares. The Supervisory Board of the "AHVK" and AEGON Investment Management B.V. issued a special press release announcing that from January 20, 2006 no new payments from participants will be accepted. The most important reason for this decision was the pending settlement of the Securities Class Action for shareholders like the "AHVK".

Associates Stock Purchase Plan

Our U.S. employees are able to purchase our ADSs through the Associates Stock Purchase Plan (the "ASPP") in the U.S. Through the ASPP, employees may choose to purchase ADSs through voluntary payroll deductions. During 2005, approximately 608,517 ADSs were purchased by our U.S. employees pursuant to the ASPP.

Financial calendar for 2006

Documents on Display

Copies of this annual report, the documents referred to within this annual report and our Articles of Association as well as the Articles of Association of the Administratie­kantoor and the trust conditions (Administratie voorwaarden) will be available for inspection upon request at our Group Support Office at Piet Heinkade 167-173, 1019 GM Amsterdam, the Netherlands (tel. +31 20 509 5100).

Copies of such materials may also be obtained from the principal office of the SEC at 450 Fifth Street, N.W., Washington, D.C. 20549, U.S. at prescribed rates. The public may also obtain information from the operation of the SEC's Public Reference Room by calling +1 800 SEC 0330. Additionally, the SEC maintains a website at www.sec.gov that contains reports and other information that registrants file electronically with the SEC through the Electronic Data Gathering, Analysis and Retrieval system ("EDGAR").

Contact information

Ahold Investor Relations

P.O. Box 985
1000 AZ Amsterdam
The Netherlands
Telephone: +31 (0)20 509 5213
Fax: +31 (0)20 509 5202
E-mail: investor.relations@ahold.com

Ahold Group Support Office

Piet Heinkade 167-173
1019 GM Amsterdam
The Netherlands
www.ahold.com

ADR Information

The Bank of New York
Investor Relations
Church Street Station
P.O. Box 11258
New York, NY 10286-1258
United States
Telephone: +1 800 649 4134
E-mail: shareowner-svcs@bankofny.com
www.adrbny.com