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Independence and Self-evaluation

Independence

The composition of the Board was such that members were able to act critically and independently of one another, the Executive Board and any particular interest. The Supervisory Board complies with the independence criteria of the Dutch Corporate Governance Code. Aart Jan de Geus deviates from one of the independence criteria (article III.2.2) of the Dutch Corporate Governance Code because a family member is a co-worker.

Conflicts of interest

In accordance with the requirements of the Dutch Corporate Governance Code, the Supervisory Board has internal rules in place that govern any actual or potential conflicts of interest of Board members. No conflicts of interest occurred during 2015.

Education

As part of the Supervisory Board’s permanent education programme, it organises annual meetings with external experts, with a view to keeping up-to-date with developments in society and the sectors that have an impact on Triodos Bank’s operations. Please see the report of the Nomination and Compensation Committee for more details.

Self-evaluation

The results of the 2014 self-evaluation were discussed by the Supervisory Board, and recommendations have been implemented as a result. The Supervisory Board’s annual self-evaluation of the Supervisory Board as a whole, its individual members and its committees took place in the last quarter of 2015 by two external facilitators. They facilitated a session with the Supervisory Board and the Executive Board on board dynamics, followed by interviews with each Supervisory Board member. The results of the evaluation are being discussed by the Supervisory Board in February 2016.

The Executive Board members shared their personal key priorities for 2016 with the Chairs of the Supervisory Board and the Nomination and Compensation Committee. This is being evaluated by the Supervisory Board early 2016.