20. Equity

Share capital

As at 31 December 2025, the authorized share capital totaled € 45.5 million, consisting of 182 million ordinary shares with a nominal value of € 0.25 each.

Movements in number of issued shares

	Ordinary shares
As at 1 January 2025	58,250,309
As at 31 December 2025	58,250,309

Movements in number of shares with dividend rights

	Ordinary shares
As at 1 January 2025	58,133,092
Acquired shares	-577,615
Share-based remuneration	71,262
As at 31 December 2025	57,626,739

Movements in treasury stock ordinary shares

	Number
As at 1 January 2025	117,217
Acquired shares	577,615
Share-based remuneration	-71,262
As at 31 December 2025	623,570

As at 31 December 2025, Corbion had a treasury stock of 623,570 ordinary shares at its disposal with a nominal value of € 0.25 each (representing 1.07% of the total share capital issued). Treasury stock shares have no dividend rights.

Other reserves

	Movements in legal reserves
	Translation reserve	Hedge reserve	Development costs	Share plan reserve	Total
As at 1 January 2024	3.7	-9.1	24.1	6.9	25.6
• Net investment hedge
- Exchange rate differences foreign currency loan	-17.0	-	-	-	-17.0
- Tax effect	4.4	-	-	-	4.4
• Translation difference
- Foreign group companies	12.2	-	-	-	12.2
- Tax effect	3.6	-	-	-	3.6
• Cash flow hedge
- Fluctuations in fair value derivatives	-	-2.1	-	-	-2.1
- Tax effect	-	0.5	-	-	0.5
• Share-based remuneration charged to result	-	-	-	4.7	4.7
• Share-based remuneration transfers	-	-	-	-4.3	-4.3
• Movement in capitalization of development costs	-	-	-0.9	-	-0.9
As at 31 December 2024	6.9	-10.7	23.2	7.3	26.7
• Net investment hedge
- Exchange rate differences foreign currency loan	31.4	-	-	-	31.4
- Tax effect	-8.1	-	-	-	-8.1
• Translation difference
- Foreign group companies	-83.6	-	-	-	-83.6
- Tax effect	1.9	-	-	-	1.9
• Cash flow hedge
- Fluctuations in fair value derivatives	-	-4.5	-	-	-4.5
- Tax effect	-	1.2	-	-	1.2
• Share-based remuneration charged to result	-	-	-	5.2	5.2
• Share-based remuneration transfers	-	-	-	-4.4	-4.4
• Movement in capitalization of development costs	-	-	0.2	-	0.2
As at 31 December 2025	-51.5	-14.0	23.4	8.1	-34.0

In specific circumstances legal reserves must be created in accordance with Part 9, Book 2 of the Dutch Civil Code. The legal reserves comprise the translation reserve, hedge reserve, and development cost reserve. Legal reserves cannot be distributed to shareholders.

A reserve for non-transferable profits is not applicable as Corbion has no restrictions to transfer profits from its operations in the different countries.

Nature and purpose of reserves

Translation reserve

The translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations, as well as the effective portion of any foreign currency differences arising from hedges of a net investment in a foreign operation.

Hedge reserve

The hedge reserve comprises the effective portion of the cumulative net change in the fair value of hedging instruments used in cash flow hedges pending subsequent recognition in profit or loss as the hedged cash flows or items affect profit or loss.

Development cost reserve

The development cost reserve comprises a legal reserve for capitalized development expenditure in accordance with the Dutch Civil Code.

Share plan reserve

The share plan reserve comprises all movements in equity-settled share-based remuneration plans.

Proposed dividend on ordinary shares

For the year 2025, a total dividend of € 1.00 per ordinary share, consisting of a regular dividend in cash of € 0.64 per ordinary share (2024: € 0.64), and a special dividend of € 0.36 per ordinary share (2024: no special dividend) in total € 57.6 million (2024: € 37.2 million) will be submitted for approval to the annual General Meeting of Shareholders, to be held on 13 May 2026. Proposed dividends on ordinary shares are subject to approval at the annual General Meeting of Shareholders and are not recognized as a liability as at 31 December.