History
The Foundation Preference Shares B KPN ("the Foundation") was set up in 1994 when Koninklijke PTT Nederland N.V. (now Koninklijke KPN N.V.) was privatised and the shares in KPN were listed on the Amsterdam stock exchange. At that time, the name of the foundation was Foundation for the Protection of KPN [Stichting Bescherming KPN]. Its name was changed in 2006.

At the time KPN was privatised, KPN's share capital was divided into ordinary shares, one special share, Class A preference shares and Class B preference shares. The special share gave the Dutch State the right to review for approval decisions that would fundamentally change KPN's structure. The Class A preference shares, on which the Dutch State had a call option, were intended to maintain the voting rights of the Dutch State at a certain level in the event new ordinary shares were issued. No Class A preference shares were actually subsequently ever issued. The Class A preference shares and the special share were removed from KPN's articles of association in 2002 and 2006 respectively. KPN's share capital now comprises ordinary shares and Class B preference shares.

Object
The Foundation was set up to represent the interests of KPN, its associated entities and all its stakeholders, by, inter alia, protecting KPN as much as possible from influences that might threaten the continuity, independence or identity of KPN.

Independent
The Foundation is an independent legal entity the ownership and control of which are not vested in a different legal entity.