Corporate Governance Codes About this Chairman's Corporate Consolidated Financial Company Financial Report Foreword Management Report Appendices Governance Statements Statements The Dutch Corporate Governance Code The Dutch Corporate Governance Code 2016 applies to listed companies and contains principles and best practice provisions for what is generally regarded as good corporate governance. Because of its cooperative structure, Rabobank is not required to comply with the Dutch Corporate Governance Code, it has nevertheless, committed itself to comply to the code as much as possible. Rabobank departs from the code on just a few points, partly due to its cooperative structure. Please refer to for an overview. The Dutch Banking Code In 2009 the Dutch Banking Association adopted the Banking Code for Dutch banks in orderto regain the public'strust in the banking sector. The Banking Code aims to ensure stable, service-oriented and reliable banks for stakeholders by setting out principles of conduct for Dutch banks in terms of corporate governance, risk management, audit and remuneration. The Banking Code took effect on January 1,2010 on a 'comply or explain' basis. In 2013, the Committee on the Structure of Dutch Banks (the 'Wijffels Committee') laid significant foundations for the further strengthening of Dutch banks.The committee published a report focused on the stability of the banking industry and the importance of competition and diversity in Dutch banking. The committee also called on banks to set out the role they wish to play in society. Following this recommendation, the Dutch Banking Association introduced a Social Charter, which includes an updated Banking Code, and implemented a ban kers'oath (with the associated rules of conduct and a disciplinary system). By taking these actions, Dutch banks, including Rabobank, want to demonstrate what they stand for and what they want to be held accountable for in the ongoing renewal process as individual banks and as an industry at the heart of the community. The Social Charter, the Banking Code 2015 and the rules of conduct associated with the bankers' oath together form a package called 'Future oriented Banking'. Rabobank has endorsed the package. For further information about Rabobank's compliance with the Banking Code 2015, please refer to Annual Report 2018 - Corporate Governance 101

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Annual Reports Rabobank | 2018 | | pagina 103