15 May 2024

01. Our reports

Financial statements

  • Auditor's report on consolidated and parent company financial statements (reasonable assurance)
  • Our opinion: unqualified
  • Management report and other information

Selected sustainability indicators

  • Limited assurance
  • Our opinion: unqualified

05. Communication

  • Frequent communication with management and the Audit Committee of the Supervisory Board
  • We discussed our audit plan and audit observations with the Audit Committee on a periodic basis.

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04. Specific audit response

  • Fraud
  • Non-compliancewith laws and regulations
  • Going concern
  • Climate-relatedrisks

02. Materiality

Materiality of EUR 5.5 million (2022: EUR 5.8 million)

  • 3.1% of EBITDA (2022: 5% of profit before income tax from continuing operations)
  • Misstatements in excess of EUR 275 thousand have been reported to the Supervisory Board

03. Group audit

  • In total, 12 components identified (all audited by KPMG)
  • For 7 components, the complete set of financial information was audited
  • For 5 components, specifically identified accounts were audited
  • Total coverage of 94% over revenue and 97% over total assets

© 2024 KPMG Accountants N.V., registered with the trade register in the Netherlands under number 33263683, is a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

Document Classification: KPMG Public

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Key audit matter

Valuation of Algae ingredients business:

  • Reversal of impairment
  • Involvement of valuation specialists in the audit

Internal control observations

  • Not specifically assessed; part of the financial statements audit
  • IT controls relating to granting access to users, and the periodic review thereof

Estimates

  • Overall assessment of management's estimates
  • Balanced

Next year's audit

  • Change in scope and materiality expected due to the divestment of the Emulsifiers business
  • Limited assurance engagement on the company's non-financial information reporting in line with the Corporate Sustainability Reporting Directive that is effective from 2024
© 2024 KPMG a Dutch limited liability company and a member firm of the KPMG global organization of independent member firms affiliated with KPMG

Document Classification: KPMG Confidential

International Limited, a private English company limited by guarantee. All rights reserved.

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Disclaimer

Corbion NV published this content on 16 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 May 2024 19:04:03 UTC.