Dutch Corporate Governance Code

DSM supports the Dutch Corporate Governance Code, which was most recently amended in 2016 and has been in force since the financial year 2017. We ensure our continued compliance with the Dutch Corporate Governance Code. The Dutch Corporate Governance Code can be found on www.mccg.nl.

Long-term value creation is embedded in both our company Strategy 2021: Growth & Value - Purpose led, Performance driven and our company culture: Our purpose is to create brighter lives for all. Sustainability is central to how we fulfill that mission, and to achieve this, we consider People, Planet and Profit in all we do. We apply our company strategy to drive our business and innovation strategies, which address the challenges of Nutrition & Health, Climate & Energy, and Resources & Circularity. More information on how long-term value creation is fundamental to our strategy and culture can be found in the Strategy and People sections of this Report, as well as in 'DSM and the Sustainable Development Goals'.

Regarding the appointment of members of the Managing Board for a period of at most four years (Principle 2.2 of the Dutch Corporate Governance Code), it should be noted that we have adhered to this principle since the introduction of the Dutch Corporate Governance Code in 2004. Since we respect agreements made before the introduction of the said code, the Chairman of the Managing Board in 2019 was still appointed for an indefinite period. On 2 December 2019, it was announced that Feike Sijbesma would hand over to Geraldine Matchett and Dimitri de Vreeze on 15 February 2020. As a result of this handover, the indefinite period of tenure is no longer applicable.

Any proposed substantial change to our corporate governance structure and compliance with the Dutch Corporate Governance Code should be submitted to the General Meeting of Shareholders for discussion under a separate agenda item.

All documents related to the implementation of the Dutch Corporate Governance Code at DSM can be found in the 'Corporate Governance' section of the company website.