Remuneration policy

Pursuant to article 7:89/1 of the Belgian Code of Companies and Associations (the “CCA”) and the 2020 Belgian Corporate Governance Code (“Code 2020”), this remuneration policy applies to the members of the board of directors (both the non-executive and the executive directors) and to the members of the management committee.

The remuneration policy was approved at the meeting of the board of directors of Retail Estates of 21 May 2021, based on the proposal of the remuneration and nomination committee. It was submitted to the annual general meeting on 19 July 2021 for approval and was approved by the general meeting. The remuneration policy is applicable from 1 April 2021 (financial year 2021-2022)