Brunel International's Board of Directors and its Supervisory Board fully acknowledge the Dutch Corporate Governance
Code and are of the opinion that Brunel International N.V. is complying with all applicable principles of the Code
and virtually all best practices referred to in the Code.
Though transparency and openness are Brunel International's key values, the Board of Directors and the Supervisory
Board reserve the right to deviate from the Code in the event that the application of best practice stipulation
should conflict with Brunel International's interests.