Boskalis CSR report 2017

CSR 2017 – BOSKALIS 5

SAFETY AND QUALITY Safety is paramount within Boskalis. Since the launch of our No Injuries No Accidents (NINA) safety program in 2010, our Lost Time Injury Frequency (LTIF) has fallen significantly from 0.67 in 2010 to 0.06 in 2017. In our seventh NINA year, we once again made important progress with the successful implementation in our cable laying and offshore wind business units. A Boskalis-wide NINA portal was furthermore launched to enhance internal knowledge and information sharing. In 2017, we also took an important step with the introduction of our new integrated quality management system: the Boskalis Way of Working (WoW). The system allows for an integrated business process and uniform customer approach, complementing existing processes, tools and certifications. It has a clear focus on providing safe and sustainable solutions, and is designed to give Boskalis employees the best possible support in achieving operational excellence. environmental and social progress, where possible. In 2017, the engineering, design and construction of a bulk liquid berth terminal in the Port of Duqm in Oman was used as a pilot for testing and implementing our Social Impact Program. The program proved to be a successful approach to social risks and spurred collaboration with our client, subcontractors and suppliers. Awareness of the benefits of collaboration on CSR matters, within both our organization as well as ultimately the client, turned out to be key to the success booked: not simply mitigating impacts, but actually creating positive outcomes. In addition, by employing and procuring locally we stimulate local development both in the short and long term. IMPACT ON THE ENVIRONMENT At Boskalis, consideration for the environment is deeply rooted in everything we do. Right from the initial design of a project we identify environmental impacts of our operations and commit to deliver sustainable solutions and innovations, on which we can also create a business case. One successful, sustainable and innovative approach is the Building with Nature philosophy as applied in the Marker Wadden and Houtrib Dike projects in the Netherlands, the mangrove restoration project in Central Java and the placement of self-designed and self-printed 3D reef units in Monaco. As the effects of climate change become ever-more evident, the need for adaptive, sustainable solutions is growing. The know-how acquired on the Building with Nature projects will help us offer infrastructural solutions that are flexible and can be adapted as required in response to a changing natural world. In 2017, we contributed to the development of the renewable energy market through the execution of offshore wind energy IMPACT ON LOCAL COMMUNITIES We aim to promote positive contributions to economic,

projects. In this way, we help build towards a society that is less dependent on fossil fuels. Our offshore cable-laying business had a very successful year, both in terms of order wins and project execution. Acquired contracts included East Anglia ONE, Hohe See and Borssele Beta, and we were nominated as preferred supplier on Triton Knoll and Moray Offshore Windfarm East. As for project execution activities, we carried out cabling work for the Galloper, Dudgeon, Rampion and Horns Rev 3 wind parks. ONE BOSKALIS 2017 was a challenging year. We went through a difficult period with the head office reorganization, but we are convinced that we have a bright future ahead of us. With the acquisition of Gardline and the two diving support vessels, we added a number of important building blocks and more additions are set to follow. With WoW we have taken a major step towards bringing together the various business units, each with their unique background. Nevertheless, we believe further steps need to be taken to create a unified Boskalis in which we make optimum use of our combined capabilities and innovative power. Such unity is also needed to present ourselves to the market as a single company, offering a unique combination of people, vessels and activities. In the course of 2018, we will therefore transition to a single brand name for our activities: Boskalis. OPPORTUNITIES At the beginning of the reporting year, we presented our new Corporate Business Plan for 2017-2019. This plan is based on three pillars: Focus, Optimize and Expand. An important part of this plan is aimed at capturing opportunities that present themselves in the current challenging operating environment. After all, depressed maritime markets create opportunities for our selective reinforcement, also as a foundation for the medium term when markets are expected to recover. We are well-disciplined in targeting the opportunities that arise in the market, by being selective, customer-oriented, creative and persistent. With this focus, we are convinced that our unique offering, together with our financial discipline and our effective CSR approach, will help us come out of the current downturn as a winner. On behalf of the Board of Management, I want to thank all colleagues for their contribution during the past year, as well as thank our clients, partners and shareholders for the trust and confidence they place in us.

Peter Berdowski