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2016 performance

Financial performance Sustainability performance  Return on sales (ROS) We use return on sales (ROS) as a performance indicator to reflect profitability relative to revenue. ROS as a financial guidance aims to focus management on delivery and quality of profits. ROS is defined as EBIT as percentage of revenue. Top end of the guidance Structually improved the company with record levels of profitability Focus on growth is delivering with volume up Positive impact of continuous improvement Guidance 9-11% Return on sales (ROS) development EBIT as % of revenue  Return on investment (ROI) We use return on investment (ROI) as a performance indicator to reflect [...]

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Value creation summary

Our Performance Coatings businesses serve all four end-user segments, supplying high performance coatings primarily to business-to-business customers. We are increasingly incorporating low energy processes and working to reduce our carbon footprint across the value chain. Innovation is also key to our product development, which is often highly technical in order to meet strict customer specifications. Particular emphasis is placed on supplying products that offer environmental benefits for our customers. The aim is to help us create economic, environmental and social value. We continue to be committed to safety, as well as our talent development programs and our [...]

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Performance

Our share price decreased 4 percent in 2016, underperforming both the DJ Stoxx Chemicals and AEX indices. For more details about our share price performance, please refer to the following graph. Share price performance 2016 AkzoNobel share price in €

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Pulp and Performance Chemicals

Bleaching chemicals volumes were slightly down, due to downtime at several major pulp customers in Brazil. Performance chemicals volumes were up Following a successful joint venture acquisition, the EkO Peroxide activities were integrated into our North American Bleaching Chemicals business for the production of hydrogen peroxide Major product launches included a new Expancel application for use in wine corks, which received approval from the US Food and Drug Administration A sustainability pilot study focused on printed books was carried out using the company’s four-dimensional profit and loss (4D P&L) reporting methodology. The results formed the foundation [...]

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Implementation in 2016

[...] levels cannot be justified in any given circumstance. To ensure that remuneration is linked to performance, a significant proportion of the remuneration package is variable and dependent on the short and long-term performance of the individual Board member and the company. Performance targets must be realistic and sufficiently stretching. In addition, and particularly with regard to the variable remuneration components, the Supervisory Board ensures that the relationship between the chosen performance criteria and the strategic objectives applied – as well as the relationship between remuneration and performance – are properly reviewed and accounted for both [...]

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Note 2: Reporting principles

Reporting scope This Report 2016 integrates our financial and sustainability reporting and is addressed to readers interested in both areas. In particular, we seek ways of linking sustainability performance to business results in areas such as resource efficiency, carbon emission reduction, eco-premium solutions, safety, people development and engagement, and operational eco-efficiency. Our reporting principles are based on the Global Reporting Initiative (GRI) G4 Sustainability Reporting Guidelines, supported by internally developed guidelines as described in this Note. The information in this Report 2016 offers an update on our implementation of the ten [...]

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Supervisory Board activities

Strategy reviews During 2016, the Supervisory Board continued to allocate adequate time at each Supervisory Board meeting to discuss strategic activities. This included detailed Business Area analyses and functional and operational strategy updates. The company’s continued pursuit of operational excellence and efficiencies, the implementation of the Global Business Services (GBS) model and restructuring of functional departments were all areas of focus. In addition, the company’s digital strategy was reviewed and strategy updates were received from Information Management, Human Resources and Sustainability. The Supervisory Board received comprehensive market [...]

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Note 4: Employee benefits

Salaries, wages and other employee benefits in operating income in € millions 2015 2016 Salaries and wages (2,188) (2,152) Post-retirement costs (128) (112) Other social charges (412) (418) Total (2,728) (2,682) Average number of employees average number during the year 2015 2016 Decorative Paints 15,100 14,800 Performance Coatings 19,700 19,300 Specialty Chemicals 9,300 9,000 Corporate and other 2,000 2,700 Total 46,100 45,800 The average number of employees working outside the Netherlands was 40,900 (2015: 41,200). Employees at year-end 2015 2016 Decorative Paints 14,900 14,700 Performance Coatings 19,300 19,700 Specialty Chemicals 9,100 9,000 Corporate and [...]

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Note 22: Remuneration of the Supervisory Board and the Board of Management

[...] in the company. Shares held by the members of the Supervisory Board number of shares at year-end 2015 2016 1 In the form of ADRs. Antony Burgmans 551 551 Sari Baldauf – – Peggy Bruzelius 500 500 Byron Grote 1 1,333 2,008 Louis Hughes 548 548 Pamela Kirby – – Dick Sluimers – – Ben Verwaayen – – Supervisory Board Total remuneration Remuneration Attendance fee Committee allowance fees Employer’s charges Total remuneration in € 2015 2016 1 As of May 1, 2016 2 Deputy Chairman as of October 18, 2016 Antony Burgmans, Chairman 160,000 130,000 15,000 20,000 – 165,000 Sari Baldauf 97,500 65,000 17,500 25,000 – 107,500 Peggy Bruzelius 110,300 65,000 [...]

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Remuneration Committee

Following the appointment of Dr. Kirby as a Remuneration Committee member in September 2016, it now consists of four members and is chaired by Ms. Baldauf. Other members of the Remuneration Committee are Mr. Verwaayen and Mr. Burgmans. The Remuneration Committee held three meetings in 2016. The attendance record of the members can be seen in the Supervisory Board attendance chart. Review of 2015 management performance The work of the Remuneration Committee during the first quarter focused on performance for the year 2015 and the individual performance reviews of the Board of Management members and other members of the Executive Committee. The Remuneration Committee [...]

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