Fugro's Corporate Governance Policy

The Dutch Corporate Governance Code (‘Code’) is based on the principle upheld in the Netherlands that a company is a long-term partnership between the various parties involved with that company. The stakeholders are the groups and individuals that directly or indirectly influence, or are influenced by, the achievement of the company’s objectives: employees, shareholders and other capital providers, suppliers, clients and also the authorities and social groupings. According to the Code, the Managing Board and the Supervisory Board have an integral responsibility to consider these interests, which are usually aimed at the continuity of the enterprise. Furthermore, in the perception of the Code, the company strives to create long-term shareholders’ value. The Managing Board and the Supervisory Board should take the interests of the various stakeholders into account. The confidence of the stakeholders that their interests are represented is essential if they are to co-operate effectively within and with the company. Good entrepreneurship, including integrity and transparency of decision-making by the Managing Board, and proper supervision thereof, including accountability for such supervision, are essential if the stakeholders are to have confidence in the Managing Board and the supervision.

Fugro has acquainted itself with the Code and sets great store by a good balance between the interests of the different stakeholders. Good entrepreneurship, including integrity and transparency of decision-making by the Managing Board as well as proper supervision of this management are the starting points for Fugro’s Corporate Governance policy. The Company also wishes to pay due consideration to the interests of the community.

This enclosure explains Fugro’s corporate governance structure and policy and has been approved by the annual general meeting of shareholders of 19 May 2004, as were the rules and regulations which are also published on this website.

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