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NN N : Clarifying note proposed amendment remuneration policy members Supervisory Board (clarifying note proposed amendment remuneration policy members supervisory board)
NN N : Clarifying note proposed amendment remuneration policy members Supervisory Board (clarifying note proposed amendment remuneration policy members
About this update from Nn Group N.v.
Clarifying note relating to the Remuneration Policy Supervisory Board of NN Group N.V. This clarifying note serves as a further explanation to the process followed in reviewing the Remuneration Policy Supervisory Board of NN Group N.V. (NN Group) (SB Remuneration Policy) and provides more details related to the following elements: Background Stakeholder engagement Change This clarifying note forms an integral part of the SB Remuneration Policy. Background The SB Remuneration Policy needs to be submitted to the General Meeting of NN Group (General Meeting) for adoption every four years based on Dutch law. The same procedure applies to interim changes to the SB Remuneration Policy. The SB Remuneration Policy, including the changes based on the thorough review in 2025, has been adopted with a positive vote of 99,63% by the General Meeting on 15 May 2025. The SB Remuneration Policy enables NN Group, functioning within a global setting, to attract and retain highly qualified Supervisory Board members with an international focus and the required experience, knowledge and skills. In order to guarantee the attractiveness in the market, and on the basis of the current SB Remuneration Policy, a benchmark analysis is carried out periodically. Stakeholder engagement The Supervisory Board is aware that the Supervisory Board members' remuneration is a topic of high interest to a broad group of stakeholders. NN Group therefore regularly invites this broad group of stakeholders to give their view on the SB Remuneration Policy. This stakeholder outreach is performed in accordance with NN Group's stakeholder engagement policy. Stakeholders involved in recent interactions were amongst others shareholders, proxy advisors, shareholder lobbying groups and the Central Works Council of NN Group. During these sessions, concerns were expressed on the Supervisory Board fees level, considering that the primary objective of the SB Remuneration Policy is to attract and retain highly qualified Supervisory Board members via a transparent and market-based pay practice. NN Group has carefully considered this and other feedback, views and interests of the various stakeholders as received in the interactions as well as the input received from shareholders during previous general meetings. The change made following this thorough evaluation is reflected in paragraph 3. Change The periodic rev...