Contents Introduction Management report Appendices Corporate governance Consolidated Financial Statements Company Financial Statements Envision: The Rabobank story In October 2017 we launched a new brand positioning to underline our mission Growing a better world together. This is the story behind the mission. Envision a group of entrepreneurs getting together 120 years ago. With a bit of ingenuity and a dash of boldness, these go-getters established a cooperative bank. Founded on solidarity, pragmatism and professionalism. Envision a different society than today's. Nothing is for certain anymore, while flexibility and autonomy have become a challenge. We want customers to feel confident, to be themselves and to feel they belong. With our business expertise, our capital and our networks, our employees act as a compass that our clients can depend on to guide them. Envision everyone in the world having enough food to eat healthily. We share what we know and whom we know with our clients. That way, everyone benefits from our roots and experience in Food Agri. And the world becomes better for it. Envision the Netherlands being one of the most prosperous countries, where people are happy to live, work and do business. Being at the heart of society means we invest and innovate together with clients. Truly and sincerely. With respect for each other and the environment for the long term. With everything done as it should. Envision all dreams also being opportunities. Technology can take us anywhere. And it can bring us together. Always quickly and personally. The bank is for the benefit of our clients and the results are for the benefit of society. Together we become stronger. Envision we could make a difference. All of us together. Growing a better world together Mission Our mission is: Growing a better world together. This is what we stand for and what we aim to achieve through boldness, ingenuity and decisiveness. Vision We are committed to making the difference as a cooperative, customer-driven bank, in the Netherlands and leading in Food Agri around the world.To achieve this, we have two strategic focus areas: Banking for the Netherlands and Banking for Food. We want to make a substantial contribution to welfare and prosperity in the Netherlands and to feeding the world sustainably.The visions outlined in Banking for the Netherlands and Banking for Food define our focus and provide a joint understanding of what it means to be a client-focused cooperative. Sustainability forms an integral part of both these visions. Banking for the Netherlands We feel a strong connection with our customers and members. We prosper when our customer prosper. As a cooperative bank, we want to make a clear contribution to meeting the challenges the Netherlands will face in the years ahead. Our approach to this can be categorised under four headings: food, self-sufficiency, entrepreneurship and local living environment. Our presence at the heart of local society, combined with our financial capabilities, network and knowledge, enables us to address relevant local and regional topics and so contribute to sustainable welfare and prosperity in the Netherlands of tomorrow. Banking for Food Food security concerns us all. In 2050, the world population will have increased by 2 billion people to nearly 10 billion, many of whom will have twice as much income to spend.To meet the resulting increased demand for food, global food production will have to increase by at least 60%, while at the same time arable land and natural resources are already nearing their limits. The Food Agri value chain will have to produce more with less to ensure long-term sustainability and economic viability. We want to make a sustainable contribution to the global Food Agri sector by helping increase the availability of food and access to food, promoting healthy nutrition and enhancing stability of the food industry. In our strategy we emphasise access to finance, networks and knowledge and connect producers, consumers, government bodies and the public in the wider food issues. Rabobank Annual Report 2017 - Management report 12

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Annual Reports Rabobank | 2017 | | pagina 13