Governance/risk management and responsibility statement

Risk management statement

Corbion has defined a governance model that identifies clear reporting and accountability structures in line with the Dutch Corporate Governance Code. The Board of Management is responsible for establishing and maintaining adequate internal risk management and control systems.

The Board of Management carried out an assessment of the design and effectiveness of the internal risk management and control systems, covering strategic, operational, reporting, and compliance risks. Elements that were taken into account included, amongst others, reports from Internal Audit and the external auditor, findings reported and assurance obtained under one of our control frameworks, reported safety incidents, matters reported by the Legal and Compliance department, and reports received under our Speak Up Policy.

The outcome of this assessment was that no major failings were observed in the internal risk management and control systems in the year under review, and no significant changes have been made to these systems. Corbion is continuously strengthening its internal risk management and control systems through various improvement initiatives. For 2025, no major improvements were identified. The results have been discussed with the Audit Committee, the Supervisory Board, and the external auditor.

The Board of Management recognizes the inherent limitations of internal risk management and control systems. Whilst Corbion continuously works towards improving its processes and procedures, these systems cannot provide absolute certainty that all risks have been identified or are effectively managed. The level of comfort that they provide is influenced by, among other things, inherent limitations to risk management, business considerations such as Corbion's risk appetite, the complexity of Corbion’s operations, and the dynamic nature of the business environment.

Certain risks remain outside Corbion’s direct control, as they depend on third parties or external circumstances beyond Corbion’s influence.

The principal risks Corbion faces, Corbion's risk management framework and Corbion’s risk appetite are described in the Risk Management section of this management report.

Statement by the Board of Management

Based on its assessment and with reference to Best Practice Provision 1.4.3 of the 2025 Dutch Corporate Governance Code, the Board of Management of Corbion N.V. confirms to the best of its knowledge:

  1. that the management report provides sufficient insights into failings in the effectiveness of the internal risk management and control systems;

  2. that these systems provide reasonable assurance that the financial reporting does not contain material inaccuracies;

  3. that these systems provide limited assurance that the sustainability reporting in section [reference to CSRD report] of this report does not contain material inaccuracies;

  4. that the Board of Management at balance sheet date is not aware that the internal risk management and control systems do not provide sufficient comfort that the operational and compliance risks identified in the risk management section of this management report are effectively managed, where "sufficient comfort" is to be read as: comfort considering our risk appetite, the complexity of our enterprise, inherent limitations to these systems and other disclosures on these systems in our management report;

  5. that, based on the current state of affairs, it is justified that the financial reporting is prepared on a going concern basis; and

  6. that the management report states the material risks, as referred to in best practice provision 1.2.1, and the uncertainties, to the extent that they are relevant to the expectation of the company’s continuity for a period of twelve months after the preparation of the report

Due to inherent limitations to risk management and control systems, the above does not imply that these systems and procedures provide certainty as to the realization of strategic, operations, compliance and reporting objectives, nor that they can prevent all misstatements, inaccuracies, fraud, operational issues, and non-compliance with laws and regulations.

Responsibility statement

With reference to Section 25c Subsection 2 sub c of Chapter 5 of the Dutch Financial Markets Supervision Act ('Wet op het financieel toezicht'), the Board of Management states that to the best of its knowledge:

  • The Financial statements, prepared in accordance with applicable accounting standards, give a true and fair view of the assets, liabilities, financial position, and earnings of Corbion and our group companies included in the Financial statements; and

  • The Annual Report gives a true and fair view of the position of Corbion as at the balance sheet date, the developments during the financial year of Corbion and our group companies included in the Financial statements, and a description of principal risks that Corbion faces, and that, where applicable, the sustainability reporting in the management report has been prepared in accordance with the sustainability reporting standards referred to in Article 29b of the Accounting Directive (Directive 2013/34/EU) and with the specifications adopted pursuant to the fourth paragraph of Article 8 of Regulation (EU) No 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investments and amending Regulation (EU) 2019/2088 (OJ 2020, L 198).

Amsterdam, the Netherlands, 25 February 2026

Board of Management
Olivier Rigaud, Chief Executive Officer
Peter Kazius, Chief Financial Officer