Report on progress in 2021

Our strategy served us well in 2021. It helped us to set our priorities in order to drive organic growth, especially in view of the changing circumstances brought about by the continuing COVID-19 pandemic. It also helped us make the right capital allocation choices, including the selection of acquisition targets and the development of our Health, Nutrition & Bioscience portfolio, where appropriate.

Highlights:

• We accelerated our journey toward becoming a focused Health, Nutrition & Bioscience company, started a review of strategic options for our Materials businesses, including a possible change of ownership, simplified our operating structure, reorganizing our activities into three Business Groups, and installed a new leadership structure to reflect our strategic vision and new organizational structure
• We acquired the Flavor & Fragrance bio-based intermediates business of Amyris, Inc., Midori USA, Inc (eubiotics), First Choice Ingredients, Inc. (savory flavorings), and Vestkorn Milling (plant-based proteins) and divested our Resins & Functional Materials and associated businesses
• We made good progress on our platform-based approach to driving innovation, ensuring a healthy pipeline of new products and solutions and made significant progress to capture the value from key innovations such as Veramaris^®, Bovaer^®, EVERSWEET™ and ampli-D^®
• We made progress on our purpose-led sustainability ambitions in People and Planet
• We announced a number of new Food System Commitments in support of the achievement of the UN Sustainable Development Goals 2, 3, 12 and 13
• We launched Team DSM for the 2021 season onwards with the aim of galvanizing wider public action around the importance of the health of people and of the planet, in line with our purpose-led, performance-driven strategy