NN Group N.V.
12 February 2026
Sustainable long-term value creation for our stakeholders
Our purpose
We help people care for what matters most to them
Our ambition
We want to be an industry leader, known for our customer engagement, talented people, and contribution to society
Our strategic commitments
Engaged customers
We deliver an outstanding customer and distributor experience, and develop and provide attractive products and services.
Our values
Our brand promise
You matterTalented people
We foster a values-based culture and empower our colleagues to be their best.
Contribution to society
We contribute to the well-being of people and the planet.
Financial strength
We are financially strong and seek solid long-term returns for shareholders.
Digital & data-driven Organisation
We use technology and data responsibly to transform our business and drive operational excellence.
An industry leader, known for customer engagement, talented people and contribution to societyProviding relevant products
and services to support customers through the challenges of today and tomorrow
Contributing to the transition
to a sustainable economy by investing our assets responsibly
Inclusive and open working environment for 16,000 employees
Contributing to the communities in which we live and operate
Maintaining a strong balance
sheet
Embedding sustainability
matters in the organisation
NN Group aims to make a real difference by supporting our 19 million customers and contributing to the transition to a sustainable economy
We are committed to creating long-
term value for people and the planet
We believe that this approach enables us to deliver solid long-term returns for shareholders
Addressing sustainability matters throughout the organisation and governance structure is key to achieving our objectives and deliver on our commitments
Connected SDGs
Our sustainability journey
NN Group publishes Responsible Investment Framework policy, followed by investment guidance papers on environment and human rights (in 2016 and 2017)
NN Group becomes a member of the IIGCC and contributes to development of its Net Zero Investment Framework in following
NN Group launches ambition to transition its proprietary invest ment portfolio to net-zero GHG
years
carbon footprint
residential mortgages
Statement
2014
2016
2018
2020
2022
2024
2015
2017
2019
2021
2023
2025
emissions by 2050
NN Group announces interim targets to transition its proprietary investment portfolio to net-zero GHG emissions, as well as targets to reduce own operational
NN Group publishes an update of its Climate Action Plan and announces interim targets for part of its insurance underwriting portfolio and
NN Group publishes white paper Biodiversity approach for investments
Publication of first
Sustainability
IPO of NN Group on Euronext Amsterdam; NN Group issues first Sustainability Report
NN Group publishes an
Integrated Annual Report
NN Group discloses its first response to the TCFD recommend ations in its annual report
NN Group signs financial sector commitment to Dutch Climate Agreement1
NN Group joins the Net-Zero Insurance Alliance. This membership was succeeded by membership of the Forum for Insurance Transition to Net Zero (FIT)1 in 2024
NN Group publishes Sustainability Bond Framework
NN Group publishes first Active Ownership Report
NN Group publishes Responsible Investment Underwriting (RIU) Framework policy
Launch of NN Disaster Relief Fund and Group wide programme
"Mental Health for the next generation"
Update of Climate Action Plan and Active Ownership Report
Proud to engage customers, attract talented people and make a positive contribution to societyEngaged customers
Above market
average NPS-r1by 2028
On track
Above
market average
On track
Top 3
Top 3 in market
Broker satisfaction score (ITV2)
by 2028
Talented people
Above benchmark
Employee engagement
score3by 2028
On track
Above
benchmark
On track
42%
women
58%
men
Gender diversity in
senior management positions4of ≥ 40% women and men by 2028
Contribution to society
Reduce GHG5
emissions portfolio by 45% by 2030
On track
56%
Corporate investments6
On track
EUR
13.7bn
Investments in
climate solutions7of
EUR 13bn by 2030
Supporting
the well-being of
2.5m people8
by 2028
On track
1.39m
people
1 Net Promoter Score (NPS-r) is measured for the business lines in the Netherlands and for the 9 International business units based on a four-quarter rolling average; The target score is related to the market average; 2 'Intermediair tevredenheidsscore' from IG&H, comparison with providers that operate in two or more of our main business lines to exclude monoliners and specialised providers; 3 The metric indicates how likely it is that someone will recommend NN as an employer; 4 Includes the Management Board and managerial positions in the two levels below; 5 GHG = Greenhouse Gas; 6 Reductions
compared with portfolio financed emissions in tCo2 per EUR million invested at year-end 2021, reflecting underlying emissions of 2019; 7 The amount invested in climate solutions for the proprietary 5
portfolio reflects the nominal value of green bonds and debt investments in certified green buildings and renewable energy, and the market value for direct and equity investments in certified green
buildings, renewable energy and other investments; 8 Contributions to communities by supporting financial, physical and/or mental well-being, cumulative starting 2022.
Our performance is recognised in indices and ratingsA-
(range A to D-)
Included
(score 4.0 out
of 5)
C
(prime)
AAA
(range AAA to CCC)
16.2
(low risk)
#2 (RI1)
(out of 21)
#5 (Tax2)
(out of 116)
Social
#132
(out of 2000)
More information about ESG indices and ratings can be found on our website.
We contribute to the well-being of people and the planet1
Our Climate Action
Plan, Ambition and Own operational footprint
2
Responsible Investment
and Biodiversity
Climate Action Plan
Climate Action Plan1(CAP)
The Climate Action Plan underscores NN's commitment to incorporating climate action within our business
It reviews past efforts, outlines future steps, and reaffirms our net-zero ambition
The 2025 CAP update reiterates previously set targets, ambitions and reference objectives, while also providing updates and additions to our approach
Taking action to achieve our
climate goals
NN is committed to supporting the transition to a low-carbon economy and helping our customers build resilience to the effects of climate change
We aim to achieve net-zero across our business activities by 20502, and our own operations by 2040
We are committed to incorporating science-based principles and related topics, such as biodiversity and just transition, into our approach
Elements of our approach
Being an active owner of our investments (engagement, voting), investing in climate solutions, applying restriction/phase-out policies
Developing and offering products and services that address the environmental challenges that our customers face
Reducing energy consumption and increasing the use of renewable electricity across our offices, and taking steps to travel more sustainably
Engaging with our suppliers to encourage them to reduce their GHG emissions
Aim to achieve net-zero GHG1 emissions across our business
Interim targets and reference objectives2
Ambition Actions 2025 2030
Proprietary investment portfolio
Transition proprietary investment portfolio to net-zero by 2050
Reduce financed GHG emissions in residential mortgage portfolio by ~34%3
Reduce financed GHG emissions in corporate investment portfolio by 25% by 45%
Reduce financed GHG emissions in direct real estate portfolio to 10.9 kg CO2e per square meter
Phase out investments in companies with thermal coal exposure close to zero4
Grow investments in climate solutions, including renewable infrastructure, green bonds and energy-efficient real estate
EUR 13bn
Products & services
Own operations
Transition insurance underwriting portfolio to net-zero by 2050
Reduce GHG emissions from own business operations6to net-zero by 2040
Reduce insurance-associated GHG emissions for non-life commercial lines in the Netherlands by 26%5
Participate in international alliances and networks on net zero, to accelerate developing metrics and prepare target setting (e.g. FIT, PCAF)
Step up engagement activities in value chain and provide insurance for climate solutions
Develop relevant products and services, such as sustainable pension solutions and sustainable living solutions
Reduce GHG emissions across our own business operations by 35% by 70%
Improve energy efficiency in our office buildings; increase use of renewable electricity; achieve 100% electric car fleet in the Netherlands; and promote hybrid way of working to limit need for business travel and commuting
1. GHG = greenhouse gas; 2. Baseline date: 2021 (based on underlying emissions from 2019) or as mentioned; For more details on targets, reference objectives and ambitions, please refer to NN Group's Climate Action Plan, published on our website; 3. Reduction in carbon emission intensity (kgCO2/m2) associated with residential mortgages originated and/or serviced by NN Bank compared with year-end 2021; 4. 'Close to zero' defined as 0-5%; 5. Reduction of insurance-associated emissions (IAE) of the NL Non-life commercial lines portfolio compared with 2022; 6. Office buildings, energy consumption, lease cars and business air travel.
Decarbonisation targets and reduction progress
Ambition to become net-zero in our own operations by 2040 and interim targets set to reduce own operational GHG footprint: 35% in 2025 and 70% in 2030 across our Scope 1 and 2, scope 3 air travel and lease car emissions.
NN Group met the 2025 reduction target; it realised a reduction of 47% in 2025 compared to 2019 levels, covering:
Scope 1: mainly resulting from the use of gas in our office buildings
Scope 2 (market-based): purchased electricity and district heating
Scope 3: business air travel
Lease car emissions
Operational GHG emissions progress
(ktCO2e)
20.0
15.0
-47%
10.0
5.0
Scope 1
Scope 2 (market-based) Scope 3 air travel
Lease cars
-
2019
2025
Transition to a fully electric lease car fleet in the Netherlands. Transition to hybrid and electric in international branches
Limit business travel through our hybrid way of working and by encouraging climate-conscious travel decisions
Transitioning our offices away from fossil fuels to renewable sources of electricity
Reduce energy consumption by implementing
energy efficiency improvements
Electrification of heating and cooling: phasing out fossil fuels in our operations by electrifying heating and cooling
Reducing GHG emissions across our business operations We contribute to the well-being of people and the planet
1
Our Climate Action
Plan, Ambition and Own operational footprint
2
Responsible Investment
and Biodiversity
Actively engaging to achieve positive change
Active Ownership
Direct or collaborative engagement by NN Group, external asset managers or service providers
NN Group's Active Ownership report provides an overview of our policies and activities related to Active Ownership
Restriction: a measure of last resort
NN Group's norms-based RI criteria: a reflection of relevant laws, internationally recognised standards and our organisation's values
Number of restrictions by theme1:
4%
9%
31%
32%
21%
Controversial weapons and/or arms trade
Unconventional oil and gas Tobacco production Thermal coal mining
Violations of international standards of
business conduct
Responsible Investment
Framework Policy
Policy sets out approach to integrating ESG factors in the investment process and active ownership practices
Preference for inclusion backed by engagement over exclusion
NN works with external asset managers which are subject to the RI policy and strategies, and track progress through regular reporting
NN Group is a signatory to the Principles for Responsible Investment
1. Based on NN's Exclusion list published on our website (update April 2025). NN Group's Internal Restricted List is broader (for example, it includes private companies, 12
and broader restrictions for Proprietary Assets such nuclear weapons and unconventional oil and gas)
Our approach to transitioning our proprietary investment portfolio to net-zero GHG emissions by 2050Decarbonisation of proprietary investment portfolio
Paris-alignment strategies for corporate investments1 , sovereign bonds, residential mortgages, real estate, private equity, infrastructure investments, and private debt
Encourage sustainability progress through active dialogue
Preference to allocate new investments to better climate performers, based on potential to align to net-zero by 2050
Exclusions related to unconventional oil and gas and thermal coal mining
Phase-out of thermal coal for proprietary exposed investments by 2030
Comprehensive oil and gas policy in place
Increasing investments in climate solutions
Dutch Climate Action Fund launched in partnership with DIF Capital Partners; investing in projects that support the Dutch energy transition (initial commitment of EUR 125m)
Sustainable infrastructure debt fund launched together with Rivage Investment; EUR 300m commitment to fund European projects
Partnership with Macquarie Asset Management with the aim of financing a portfolio of assets focused on climate change mitigation and adaptation, the transition to a circular economy and the broader energy transition. NN Group has committed EUR 350 million to the strategy, which will pursue debt investments across a wide range of sectors
Underlining our (inter)national commitments and endorsements2
1. Corporate investments comprise listed equity and corporate fixed income; 2. More information about our memberships and endorsements can be found on our website. 13
Net-zero strategy for proprietary asset portfolioInvestments in climate solutions2
(31 December 2025)
1%
17%
36%
EUR 13.7 bn
46%
Certified green buildings
Green bonds
Renewable energy investments Other
Targets and reference objectives per asset class
Corporate investments1: decarbonisation reference objective: 45% GHG reduction by 2030 (vs. 2021 baseline)
Encourage investee companies to progress toward net-zero through active engagement
Invest in transition leaders, selecting companies better positioned to move to a low carbon economy and/or green bonds
Exclusion as last resort: monitor progress closely, divest if this is insufficient over time
Residential mortgages: decarbonisation reference objective: 34% reduction in GHG emission intensity by
2030 from 2021 level to 18.0 kg CO₂/m² (for mortgages originated and/or serviced by NN Bank)
(Non listed) real estate: decarbonisation reference objective: 10.9 kg CO₂e/m² by 2030 (for the direct
portfolio), aligned with the CRREM 1.5°C pathway
For the indirect portfolio: by 2030, aim for most funds (>75% of Gross Asset Value) committed to achieving net-zero GHG emissions by 2040 or sooner (Scope 1-2), with the remainder achieving this by 2050 or sooner
Sovereign bonds: no target set yet, due to data limitations and the constraints of a buy and hold, liability driven strategy
Monitor portfolio progress using the new Paris alignment assessment framework, and identify opportunities to increase green bond exposure
Collaborate with external asset managers to engage sovereign issuers, promoting transparency and constructive dialogue on climate policies and ambitions
Investments in climate solutions: target to grow investments in climate solutions to EUR 13bn by 2030
The corporate investment portfolio includes listed equities and corporate fixed income (i.e., corporate bonds and loans); 2. The amount invested in climate solutions reflects the nominal value for green 14
bonds and debt investment in certified green buildings and renewable energy, and the market value for equity investment in certified green buildings and renewable energy, and other investments.
Steps in biodiversity - from investments to underwritingBiodiversity approach for our proprietary investments
NN Group committed to the Finance for Biodiversity Pledge1in 2022
Joined Nature Action 1001 in 2023, a global investor-led engagement initiative to reverse nature and biodiversity loss
Published a white paper in 2024 on biodiversity and set initiation targets to increase understanding of nature-related impacts, dependencies, risks, and opportunities
In 2025 we updated our Investment Guidance paper on the Environment
Underwriting, Products & Services
The environment is one of the topics in the implementation of the Responsible Insurance Underwriting (RIU) Framework Policy
In assessing products and services with sustainable components, products that contribute to the environment are considered
We have expanded our home insurance underwriting criteria to include biobased homes, thereby promoting biobased construction because of its environmental benefits
Biodiversity risk pilot & e-learning
Exploration of an assessment approach on biodiversity related adverse impacts and risks in two sectors within the investment and underwriting portfolio
Tested the approach in case-studies to experiment with the application of biodiversity risk in practice
Launched a biodiversity e-learning available to all NN employees
1
Customers
Providing relevant products and services to support customers through the challenges of today and tomorrow
2
Talented People
3 Community Investment
Access to products and services that help customers address societal challenges
Environmental
Woonnu sustainability route: Alongside interest-rate discounts for better energy labels, Woonnu supports mortgage advisors with tools and insights that help integrate sustainability into mortgage advice, including an online sustainability check and in-home energy report
BeFrank: Offers the option to invest in the Sustainable Lifecycle
Sustainable repair network: Makes sustainable repair the default for
retail labels and offers the choice for other portfolios
Electrification & the energy transition: Provides insurance coverage and risk advice around the energy transition to commercial customers, enabling industry growth, reducing grid congestion uncertainty, and promoting investments
Lithium-ion batteries: Conducts extensive fire research to better
assess associated risks and prevent and insure against them
Energy storage systems: Offers insurance coverage and risk advise on location, fire-resistant measures and set-up of systems
Energy hubs: Offers business liability insurance for energy hubs on business parks
Social
Lower barriers to healthcare: Improve access through partnerships like SkinVision app which allows customers to check skin spots for free
Reducing the health gap: Provide additional coverage in insurance policies, e.g. OHRA Gezond offers a health module including mindfulness, informal care and budget coaching to all customers
Improve financial health: Supporting employees, e.g. Pensioen Hulp, a
free service, helps people aged 50+ prepare for retirement
Inform on pensions: APK Gesprekken, advisors meet with customers at 3 moments to explain pension expectations and personal choices
Engaging with customers: Engage (preventatively) with customers facing payment difficulties, e.g. Schuldhulp dienstverlening
Insuring (previously) uninsured groups: Insurance is now available in the Netherlands for sex workers who were previously not insurable
Insuring serious illnesses abroad: In Poland, Romania and Hungary, coverage for treatments abroad allows customers to choose the best available treatment option, outside of their home country
Customer needs shape the customer experience
Our customers are the starting point of everything we do
Meeting real needs through each phase
of customers' lives
Offering guidance and planning tools to increase knowledge of matters relevant to our customers
We aim to support our customers with products and services that help them deal with expected and unforeseen changes at key moments in their lives
Innovating our business while adding value for our customers
We use our digital capabilities and leverage our strong distribution footprint to further enhance our customer experience
Being where our customers want us to be, offering a choice of digital channels, brokers and/or a tied agent network in Europe
Strengthening existing partnerships and platforms and establishing new ones
Data privacy and protection
Designated Data Protection Officers at HQ and BUs monitor compliance with GDPR1
Adequate procedures in place to handle customer requests for GDPR rights
GDPR and AI Act awareness training for all NN employees combined with AI Literacy programme
NN AI Framework in place for development and use of ethical and trustworthy AI
NN's AI systems/models categorized and assessed
on BU level and validated at Group level before use
NN AI Framework updated for first applicable obligations European AI Act
Anticipate upcoming applicable obligations AI Act and establish efficient AI governance
1
Customers
2
Talented People
Fostering an inclusive and inspiring culture that supports continuous learning and collaboration in which employees can thrive
3 Community Investment
Attracting, developing and retaining engaged employees
Employee value proposition
We care for what matters most. Guided by our values-care, clear, commit-we drive positive change through innovation, inclusion, and well-being
We foster a values-based culture and support people to develop their talents in an inspiring and healthy work environment
As a supporter of change, NN empowers people to contribute to a more inclusive, sustainable and resilient future
Our Employee Value Proposition is built on four drivers: Master your skills, Move forward together, Make your work matter and Shape the future
Diversity, Equity, and Inclusion
NN's first Day of Inclusion with a focus on intersectionality including ERG5fairs and diversity dimension awareness training
Annual benchmarking across all business units with progress reported across all and 2026 recommendations available
Annual SER submission on gender diversity for large Dutch entities
Expanding data insights to understand DEI
sentiment
Measuring our colleague's sense of safety, belonging and equality (November inclusion score of 8.4 on a scale 1-10)
Optimising employee engagement
Engagement is essential for long-term business performance, employee retention and satisfaction
Reached the strategic target set in 2022 of obtaining an 8.0 during the year-end survey of 2025
In 2026, the employee listening strategy will be optimised by conducting an annual employee engagement survey supported by pulse surveys to measure specific themes and segments, to improve feedback quality and receive more frequent feedback
Follow-up and monitor at BU and organisational level to continually improve our efforts
16526
Employees1
42% women
58% men
Gender diversity in
senior management2 Target: ≥ 40% women and ≥ 40% men by 2028
8.0
Engagement score3
Target: above benchmark by 20284
1. Total number of employees (headcount including interns) on 14 January 2026; 2. Includes Management Board and managerial positions in the two levels below in 2H2025; 3. 84% participation rate; 4. The target score is related 20
to the benchmark. From 2026 on we will use the Peakon Overall True benchmark, which is more representative than the previous Finance benchmark. From 2026 onwards, the aim is to meet or exceed the benchmark, with the
ambition to surpass the benchmark by 2028; 5. Employee resource groups (ERG).
We contribute to the well-being of people and the planetBeing a good corporate citizen and contributing to the communities in which we live and operate
21
1
Customers
2 Talented People
3 Community Investment
Positive impact in our communities
Progress
On target and ambitions
1.39M
People supported1
>EUR 18.9m
Contributed to our communities 20252
>52,000
Volunteer hours 2025
Target: Support the financial, physical and/or mental wellbeing of 2.5 million people by 20281
Philosophy: By staying close to who we are, what we value and by focusing on themes aligned with our business, we can increase the positive impact on people in the communities in which we operate
Core themes:
Financial well-being: promoting financial empowerment and creating economic opportunities
Physical and mental well-being: access to (quality of) health, as well as stimulating social connectedness
Primary target group: underserved or socially excluded people
Approach: globally consistent and locally relevant
Accumulative since 2022 22
Contribution to our communities in 2025, including cash donations, hours of volunteering and in-kind giving (both monetised), and management costs, in line with B4SI standards
1
Governance
Sustainability is embedded throughout the organisation and governance structure
2
Responsible Tax
Sustainability is embedded in our governance
Strong corporate governance framework
Supervisory Board*
David Cole (NL/US)
Chair
Pauline van der
Meer Mohr (NL)¹
Vice Chair
Inga Beale (UK)
Robert Jenkins (US)
Rob Lelieveld (NL)¹
Cecilia Reyes (PH/CH)
Koos Timmermans (NL)
NN Group has a two-tier board structure
Supervisory Board Responsible for supervising the management performed by the Executive Board and the general course of affairs of NN Group and its businesses, and assists the Executive Board with advice | |
Executive Board Entrusted with the management, strategy and operations of NN Group under the supervision of the Supervisory Board | |
Management Board
Entrusted with the day-to-day management of NN Group and the overall strategic direction of the company
In board compositions we strive for diversity in the dimensions of gender, age, nationality, race, ethnicity, country of origin, abilities, neurodiversity, sexual orientation, educational background, languages spoken, and belief systems. In addition, there has to be a balance in the affinity with the nature and culture of the business.
1. Works Council nominee
* As announced on 12 February 2026, the Supervisory Board has decided to nominate David Cole and Pauline van der Meer Mohr for reappointment. Additionally, the Supervisory Board has decided to
nominate Irine Gaasbeek for appointment as a new member of the Supervisory Board. The respective proposals will be submitted for adoption at the 2026 AGM. Robert Jenkins is not available for 25
reappointment and will step down from the Supervisory Board.
Experienced and diverse Management BoardManagement Board
David Knibbe (NL)
1
Chief Executive Officer
Annemiek van
Melick (NL)*
1
Chief Financial Officer
Wilbert Ouburg (NL)
Chief Risk Officer
Frank Eijsink (NL)
CEO International Insurance
Janet Stuijt (NL)
General Counsel
Leon van Riet (NL)
CEO Netherlands Life & Pensions
Tjeerd Bosklopper (NL)
CEO Netherlands Non-life, Banking & Technology
Dailah Nihot (NL)
Chief People, Communications, and Sustainability Officer
Strong Management Board with the required skills and experiences
Average experience in the financial sector of over 20 years
Diverse representation is promoted in our Boards:
Supervisory Board: 43% female, 57% male**
Executive Board: 50% female, 50% male
Management Board: 38% female, 62% male
27% of Supervisory and Management Board members with non-Dutch nationality
Executive variable remuneration linked to
NN Group's medium-term strategic priorities and based on both financial and non-financial performance
1. Also member of the Executive Board
* as announced on 12 February 2026, the Supervisory Board intends to reappoint Annemiek van Melick as member of the Executive Board. The reappointment will be effective after notification to the
General Meeting at the 2026 AGM. 26
** After the 2026 AGM, if reappointed (David Cole and Pauline van der Meer Mohr) and if appointed (Irine Gaasbeek) and the end of term of Robert Jenkins, the Supervisory Board will be 57% female and
43% male.
ESG is integrated into executive remunerationPay ratio2is taken into account in EB remuneration,
along with other factors such as the external market
perspective and various stakeholder interests
2019 2020 2021 2022 2023 2024
26x
31x
31x
32x
30x
30x
Committed to closely monitor the
development of NN's CEO pay ratio
Remuneration principles
Supporting sustainable long-term value creation by using performance objectives that focus on the medium-term financial, as well as strategic company targets contributing to the long-term strategy of NN Group and linked to customers, employees, shareholders, business partners and society at large
Ensuring prudent risk management is in place
Ensuring a long-term focus for our board members:
20% of base salary delivered in NN Group shares, with a minimum retention period of 5 years
Variable remuneration is capped at 20% based on Dutch law; at least 50% is delivered in shares with a minimum retention period of 5 years
60% of the variable remuneration is deferred
Stakeholder alignment is ensured through an annual stakeholder reach-out1
NN Group's pay is analysed annually with a focus on gender equality
ESG is integrated in objective setting
Annual target setting for senior leaders evolves around our 5 strategic commitments
The weighting of financial/strategic non-financial performance measures in 2024 were:
CEO: 40%/60%
CFO: 25%/75%
Outcomes of the 2024 performance objectives have been included in the 2024 annual report
For 2025, the alignment between the performance objectives and the overall company strategy has been maintained when determining the performance objectives. There are no substantial changes in the characteristics of the objectives in comparison with previous years, which means we retain the longer-term targets. The weighting structure as well as the coverage of sustainability-related objectives have remained similar. The outcomes of the commitments will be reported in the 2025 annual report.
The annual stakeholder reach-out is performed by the Chair of the Supervisory Board's Nomination, Remuneration and Governance Committee 27
The pay ratio compares the total CEO compensation and the remuneration of all staff ('pay ratio') aligned with the pay ratio calculation method as prescribed in the Dutch Corporate Governance Code.
The pay ratio calculation excludes external staff costs and includes all variable remuneration related to the performance year
1 Governance
Responsible Tax
Governance28
1
Governance
2
Responsible Tax
We are committed to being a responsible taxpayer
Strong commitment to responsible tax behaviour
Our commitment has been consistently recognised
#5
VBDO Tax Transparency Awards 20251
Positive contributor to society
Acting according to the letter and the spirit of the law and regulations of the countries in which we operate
No engagement in artificial arrangements that do not respect business reality or offer undue tax advantages
No use of low-tax rate jurisdictions, no-tax jurisdictions or so-called non-cooperative jurisdictions, unless there is substance, and the profits are generated by local economic activities
Transparency and governance
Transparent about our approach to tax and tax positions.
Total tax contribution published annually, compliant with GRI 207. Our 2024 Total Tax Contribution report includes Pillar II tax positions, demonstrating our ambition.
Open and constructive relationships with tax
authorities wherever we operate
Supporting effective tax systems and legislation through constructive engagement with governments, business and civil society
Endorsing the VNO-NCW Tax Governance Code
1. NN Group has been consistently recognised for its commitment to tax transparency, receiving the #1 VBDO (Dutch Association of Investors for Sustainable Development) Tax Transparency Award among
Dutch listed companies from 2019 to 2022, ranked #2 in 2023, and ranked #1 again in 2024 among 51 Dutch and 65 EU stock-listed companies. More information about ESG indices and ratings can be found 29
on our website.
More information30
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NN Group NV published this content on February 12, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on February 12, 2026 at 06:17 UTC.
