Remuneration Report

The remuneration policy for the Executive Board is designed to attract, reward, incentivise and retain qualified and expert individuals that the company needs to achieve its strategic objectives. The remuneration policy provides for a fixed component and a variable component (short-term incentive). The company does not operate a long-term incentive scheme.

The variable remuneration consists of various elements. Besides financial performance and profitable growth, one of the other specific targets relates to Enhancing Society Together which contributes to the long-term value creation by the company.

The Supervisory Board has verified and is comfortable with the potential pay-out of the variable remuneration component for various scenarios as prescribed by the Netherlands Corporate Governance Code.

The remuneration package of the Executive Board was evaluated in 2023 based on a salary benchmark carried out by PricewaterhouseCoopers Accountants N.V.