Agreements with Arcadis N.V.

In view of the objective of the Foundation, in October 1995 the Company and the Foundation entered into an agreement for an indefinite period based upon which the Foundation can acquire a maximum number of shares equal to the number of outstanding shares. Since October 1995 this Option Agreement has been amended and updated a number of times, amongst which and specifically to align with the articles of association of the Company. In 2015 the Company renounced the put option which was included in the original Option Agreement and the Option Agreement has been amended accordingly.