About this Report Chairman's Foreword Corporate Management Report Appendices Governance Consolidated Financial Company Financial Statements Statements Education Sessions for the Supervisory Board Summary Supervisory Board Meetings Professional Education On January 18, 2018, the Supervisory Board members had an expert session on scenario-analysis (scope: retail banking in 2025) given by Barbara Baarsma (former directeur Knowledge Development Rabobank). On February 13, 2018, the members of the Supervisory Board attended an educational session (of the HR Remuneration Committee) on Leadership and Culture. On February 20, 2018, the Supervisory Board had a dry run exercise for Recovery Planning organized by Rabobank's RRP team. On March 16, 2018, at the request of the Audit Committee, an educational session was planned on RCF. On March 16, 2018, the Supervisory Board held an educational session on product development, product innovation and the product approval process. On March 29, 2018, all members of the Supervisory Board and nearly all members of the Managing Board attended an in-depth session (initiated by the Supervisory Board's Audit Committee and Risk Committee jointly) on the status of Interest Rate Benchmark Civil Litigation Regulatory Investigations (presented by Legal and Milbank). On May 16,2018 DTO/internal specialists presented an expert session to the Supervisory Board on Open Banking, Artificial Learning and Machine Learning. On June 12018, the Managing Board and the Supervisory Board had an in-depth session on Client onboarding, Due Diligence Transaction monitoring. On June 14,2018, the Audit Committee and Risk Committee had an in-depth session on Funds Transfer Pricing, and the redesign of the Credit chain including FR&R. On September 13,2018, Legal and Risk informed the Supervisory Board in great detail as to the current state of affairs in Resolution Planning (SRB). On November 7,2018, all members of the MT CLR gave an educational session to the Audit Committee and Risk Committee on the CLR-domain's contribution to Rabobank. On December 6,2018, the Supervisory Board attended the Managing Board's educational session on Global CAMS. On December 112018, the Supervisory Board was extensively informed on the transition(s) taking place within the Dutch F&A-sector. Transactions with Conflict of Interest In 2018 there were no transactions involving a conflict of interest between Rabobank and members ofthe Supervisory or Managing Boards. Proposal to the GMC and Conclusion In accordance with the relevant provisions ofthe Articles of Association of Rabobank, the Supervisory Board has reviewed Rabobank's Annual Report 2018 and annual accounts, as well as other relevant, associated information. The Supervisory Board discussed these documents with the Managing Board, the internal auditor and external independent auditor (PwC) and took note ofthe unqualified external auditor's report that PwC issued on the annual accounts in 2018. The Supervisory Board would advise the General Members' Council to adopt the 2018 annual accounts. Rounding up: A Word of Appreciation The Supervisory Board highly appreciates the various opportunities to engage with clients of Rabobank both in the Netherlands and internationally, during off-site meetings, visiting local banks and participating in (international) client events. The insights gained contribute to the discussions ofthe board on strategic as well as regulatory and control issues. Utrecht, March 13,2019 Supervisory Board Rabobank Annual Report 2018 - Corporate Governance 118

Rabobank Bronnenarchief

Annual Reports Rabobank | 2018 | | pagina 120