Boskalis Annual Report 2018

report of the supervisory board ANNUAL REPORT 2018 – BOSKALIS 22

REPORT OF THE SUPERVISORY BOARD

The Supervisory Board wishes to thank the employees and the Board of Management of Boskalis for the great efforts they have shown in 2018, especially considering the current market conditions.

In accordance with Article 26 of the Articles of Association of Royal Boskalis Westminster N.V., the Supervisory Board presents the 2018 annual report to the Annual General Meeting of Shareholders. The annual report, including the report of the Board of Management, the statement of directors’ responsibilities and the financial statements, was drawn up by the Board of Management. The financial statements are accompanied by the report of the company’s external auditor Ernst & Young Accountants LLP, which is included on pages 138 to 142 of this report. We recommend the following to the Annual General Meeting of Shareholders: ‚ ‚ The adoption of the financial statements, including the appropriation of profit or loss. ‚ ‚ The discharge of the members of the Board of Management in respect of their management activities during 2018. ‚ ‚ The discharge of the members of the Supervisory Board for their supervision of management during 2018. ‚ ‚ The distribution to shareholders of a cash dividend of EUR 0.50 per ordinary share. COMPOSITION OF THE BOARD OF MANAGEMENT The Board of Management consisted of three members at the start of the 2018 reporting year. On 9 May 2018, Mr. Kamps, the Chief Financial Offcer, was reappointed for a period until the Annual General Meeting in 2019. On 15 August 2018, Mr. Heijermans was appointed as member of the Board of Management for a period commencing 1 September 2018 until and including the Annual General Meeting of Shareholders in 2022. No further changes to the composition of the Board of Management occurred during the year under review. As a result as from 1 September 2018 the Board of Management consists of four members. COMPOSITION OF THE SUPERVISORY BOARD At the start of 2018 the Supervisory Board consisted of six members. At the Annual General Meeting of Shareholders on 9 May 2018 Mr. Hessels stepped down as Chairman and member of the Supervisory Board. Mr. Van der Veer succeeded Mr. Hessels as Chairman of the Supervisory Board as per the same date. Mr. De Kreij was appointed by the Annual General Meeting of Shareholders as member of the Supervisory Board commencing on 9 May 2018 until and including the Annual General Meeting of Shareholders in 2022. Mr. Hazewinkel was reappointed as member of the Supervisory Board on 9 May 2018 for a period until the Annual General Meeting in 2020. No further changes to the composition of the Supervisory Board occurred during the year under review. As a result as from 9 May 2018 the Supervisory Board consists of six members.