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Report of the board of management

Evaluation

The Supervisory Board conducted a self-evaluation of its own functioning, the functioning of its committees, and that of its members. Included was also it’s relation to and with the Board of Management and its members. This was done by means of structured interviews with all members of the Supervisory Board. A report of the evaluation, including observations, recommendations and the implementation of the agreed 2019 attention areas, was discussed by the Supervisory Board. General observations are in line with previous years indicating an open and constructive interaction between members of the Supervisory Board focused on the business at hand and taking timely decisions when required. The Supervisory Board feels sufficiently informed and involved by the Board of Management, and is positive about the interaction and dynamics while the committees function as expected with experienced Supervisory Board members. The self-evaluation underlined the importance of aligned priorities between the Supervisory Board and Board of Management, especially in view of the updated strategy and the implementation thereof. Topics for the 2020 agenda are geared at safety, monitoring and evaluating the implementation of the updated strategy and the key strategic projects and initiatives, providing further guidance and support to the Board of Management in the first year of implementing the updated strategy, monitoring the business progress of Algae Ingredients, top-line growth and plan for the further succession planning of the Supervisory Board. Given the CEO change in August 2019, the Board of Management has decided to conduct a self-evaluation of its own functioning and that of its members mid-2020.