CSR

CORPORATE SOCIAL SOCIAL CORPORATE RESPONSIBILITY REPORT REPORT 2017 8 KEY FIGURES

(in EUR million, unless stated otherwise) 2017 2016

Revenue 2,337 2,596 Order book 3,495 2,924

EBITDA 436.6 660.5 Net result from joint ventures and associates 31.0 11.3 Depreciation and amortization 251.6 277.2 Operating result 185.0 384.6 Impairments 0.0 842.6 EBIT 185.0 -458.1 Net profit adjusted for impairments 150.5 276.4 Net profit (loss) 150.5 -563.7 Net group profit (loss) 150.4 -561.8 Cash flow 402.0 464.0

Shareholders’ equity 3,023 3,121

RATIOS (IN PERCENTAGES) EBIT as % of revenue 7.9 14.8 Return on capital employed 4.8 9.1 Return on equity 4.9 8.1 Solvency 62.9 56.1

FIGURES PER SHARE (IN EUR) Profit 1.15 2.16 Dividend 1.00 1.00 Cash flow 3.07 3.62 KEY FIGURES

NON-FINANCIAL INDICATORS Employees including associated companies 10,732 11,733 Employees in Boskalis majority owned entities 5,772 6,153 Ratio women/men within Boskalis’ majority owned entities 10/90 11/89 Number of nationalities within Boskalis’ majority owned entities 64 63

Lost Time Injuries (LTI) 9 15 Lost Time Injury Frequency (LTIF) 0.06 0.08 Total Recordable Injury Rate (TRIR) 0.55 0.66

Percentage of strategic suppliers having signed the Supplier Code of Conduct 81 76

CO2 emissions scope 1+2 (MT (‘000)) 1,223 1,249

Please refer to the glossary for definitions of the terms used

REVENUE BY SEGMENT (in EUR million) REVENUE BY GEOGRAPHICAL AREA (in EUR million)

100 283 Dredging & Inland Infra 498 The Netherlands Offshore Energy 85 Rest of Europe Towage & Salvage Australia / Asia 256 Eliminations (-28) Middle East 967 Africa 1,298 North and South America 359 856 CSR 2017 – BOSKALIS CSR 2017 1 CSR REPORT 2017

This report was drafted in accordance with the Global Reporting Initiative (GRI) Standards, application level core.

Printed copies of this CSR Report can be requested via [email protected].

The CSR Report can be found on www.boskalis.com/csrreport. 2 TABLE OF CONTENTS 3

4 CHAIRMAN’S STATEMENT

6 BOSKALIS AT A GLANCE

16 IMPACT ON LOCAL COMMUNITIES

28 IMPACT ON THE ENVIRONMENT

44 CARE FOR HUMAN CAPITAL

54 BUSINESS CONDUCT

62 APPENDIX CSR 2017 – BOSKALIS CHAIRMAN’S STATEMENT 4 CHAIRMAN’S STATEMENT topics relatedtoourbusiness. as welltheimpactofdevelopmentsinsocial andenvironmental the expectationsandimpactofouractivities onourstakeholders, we reviewedourmaterialityanalysis.We on didsotostayinformed significant progressbothinmanagementand execution. Thisyear, Our approachtocorporatesocialresponsibilityhasonceagainshown thereby demonstrating thesharedvalue potentialof sustainableinnovation. commercially apply ourBuildingwithNature philosophytoprojectsinthe Netherlands, the nextversion oftheapproach.Onenvironmental side,wewereable to into applying itasapilotonseveral sizableprojectsandintegratingthelessonslearnt inourSocialImpactProgramby In 2017,wealsotookasignificant stepforward help usfocusonwhatreallymatters tobothourstakeholdersandoperations. relate totheSustainableDevelopment Goalsthatarerelevantforourbusiness.They thebasis of ourCSRstrategyand priorities forthecomingyears. Theseprioritiesform The reviewoftheanalysisprovidesuswithanupdatedand morerefinedsetof MATERIALITY and longterm. procuring locallywestimulatelocaldevelopmentbothintheshort creating positiveoutcomes.Inaddition,byemployingand to thesuccessbooked:notsimplymitigatingimpacts,butactually outtobekey organization aswellultimatelytheclient,turned benefits ofcollaborationonCSRmatters,withinbothour with ourclient,subcontractorsandsuppliers.Awareness ofthe be asuccessfulapproachtosocialrisksandspurredcollaboration implementing ourSocialImpactProgram.Theprogramprovedto ofDuqminOmanwasusedasapilotfortestingand in thePort terminal engineering, designandconstructionofabulkliquidberth environmental andsocialprogress,wherepossible.In2017,the We aimtopromotepositivecontributionseconomic, IMPACT ONLOCALCOMMUNITIES excellence. inachievingoperational employees thebestpossiblesupport safe andsustainablesolutions,isdesignedtogiveBoskalis Ithasaclearfocusonproviding processes, toolsandcertifications. customerapproach,complementingexisting process anduniform of Working (WoW). Thesystemallowsforanintegratedbusiness our newintegratedqualitymanagementsystem:theBoskalisWay stepwiththeintroductionof In 2017,wealsotookanimportant sharing. knowledge andinformation launchedtoenhanceinternal wasfurthermore NINA portal cable layingandoffshorewindbusinessunits.ABoskalis-wide progresswiththesuccessfulimplementationinour made important 2010 to0.06in2017.InourseventhNINAyear, weonceagain Frequency(LTIF)Time Injury hasfallensignificantlyfrom0.67in Injuries NoAccidents(NINA)safetyprogramin2010,ourLost Safety isparamountwithinBoskalis.SincethelaunchofourNo SAFETY ANDQUALITY energy market through theexecution ofoffshorewind energy In 2017,wecontributed tothedevelopment oftherenewable required inresponse toachangingnatural world. infrastructural solutionsthatare flexibleandcanbeadaptedas acquired ontheBuildingwith Natureprojectswillhelpusoffer need foradaptive,sustainable solutionsisgrowing.Theknow-how As theeffectsofclimatechange becomeever-more evident,the self-designed andself-printed3DreefunitsinMonaco. mangrove restorationprojectinCentralJavaandtheplacement of Marker Wadden andHoutribDikeprojectsintheNetherlands, approach istheBuildingwithNaturephilosophyasapplied inthe create abusinesscase.Onesuccessful,sustainableandinnovative deliver sustainablesolutionsandinnovations,onwhichwe canalso identify environmentalimpactsofouroperationsandcommit to wedo.Rightfromtheinitialdesignofaproject everything At Boskalis,considerationfortheenvironmentisdeeplyrooted in IMPACT ONTHEENVIRONMENT

Dudgeon, Rampion and Horns Rev3windparks. Dudgeon, RampionandHorns execution activities,wecarriedoutcablingworkfortheGalloper, on Triton KnollandMorayOffshoreWindfarm East.Asforproject and BorsseleBeta,wewerenominatedaspreferredsupplier execution. AcquiredcontractsincludedEastAngliaONE,HoheSee successfulyear,very oforderwinsandproject bothinterms dependent onfossilfuels.Ouroffshorecable-layingbusinesshada projects. Inthisway, wehelpbuildtowardsasocietythatisless activities: Boskalis. of 2018,wewillthereforetransitiontoasinglebrandnameforour unique combinationofpeople,vesselsandactivities.Inthecourse present ourselvestothemarketasasinglecompany, offeringa capabilities andinnovativepower. Suchunityisalsoneededto unified Boskalisinwhichwemakeoptimumuseofourcombined stepsneedtobe taken tocreatea webelievefurther Nevertheless, the variousbusinessunits,eachwiththeiruniquebackground. With WoW wehavetakenamajorsteptowardsbringingtogether buildingblocksandmoreadditionsaresettofollow.important vessels,weaddedanumberof and thetwodivingsupport have abrightfutureaheadofus.With theacquisitionofGardline with theheadofficereorganization,butweareconvincedthat 2017 wasachallengingyear. We wentthroughadifficultperiod ONE BOSKALIS Peter Berdowski forourselective reinforcement, maritime markets create opportunities the currentchallengingoperatingenvironment.Afterall,depressed thatpresentthemselvesin plan isaimedatcapturingopportunities ofthis part three pillars:Focus,OptimizeandExpand.Animportant Corporate BusinessPlanfor2017-2019.Thisplanisbasedon year,At thebeginningofreporting wepresentedournew OPPORTUNITIES confidence theyplaceinus. andshareholdersforthetrust and thank ourclients,partners colleagues fortheircontributionduringthepastyear, aswell On behalfoftheBoardManagement,Iwanttothankall asawinner.of thecurrentdownturn discipline andoureffectiveCSRapproach,willhelpuscome out convinced thatouruniqueoffering,togetherwithfinancial customer-oriented, creativeandpersistent.With thisfocus,weare thatarisein themarket,bybeingselective, opportunities expected torecover. We arewell-disciplinedintargetingthe whenmarketsare also asafoundationforthemediumterm

5 CSR 2017 – BOSKALIS 6 BOSKALIS AT A GLANCE 7

8 COMPANY PROFILE

9 ACTIVITIES

10 CSR STRATEGY

14 BUSINESS MODEL CSR 2017 – BOSKALIS Boskalis at a glance 8 for allitsstakeholders. creatingnewhorizons marine expert Boskalis isaleadingdredging& climate change.Boskalisoperates worldwidebutconcentrates growing energyconsumption, growthinworldpopulationand isdrivenbygrowthin global trade, Demand forourservices design andrealizationofour solutions. remote locationsaroundtheworld.We striveforsustainable execution ontime,safelyandwithinbudget,evenatvulnerable or for ourclientswithinthechainofdesign,projectmanagement and weareable torealizecomplexinfrastructuralworks As apartner response andsalvage-relatedservices. aswellemergency weprovidetowageservices Furthermore, fortheoffshoreenergysector.broad rangeofmaritimeservices In additiontoourtraditionaldredgingactivitiesweoffer a able to secure awide rangeofprojects, aswell providing spread givesus bothasolidfoundationand theflexibilitytobe those regionsthat havethehighestgrowth expectations. This COMPANY PROFILE on Amsterdam since1971 andareincluded intheAEX-Index. Boskalis Westminster N.V. shareshave beenlistedonEuronext head officeis basedintheDutchcityofPapendrecht. Royal and floatingequipment,including associatedcompanies.Our six continents.Ourversatile fleet consistsofmorethan900vessels clients. We operateonbehalfofourclients in90countriesacross andby our (NINA), whichisheldinhigh regardintheindustry progressive globalsafetyprogram NoInjuriesAccidents those ofoursubcontractorsisparamount.Boskalisoperates its including associatedcompanies.Thesafetyofouremployees and Royal BoskalisWestminster N.V. (Boskalis)has10,700employees, companies and international projectdevelopers. companies andinternational contractors andsubcontractors,shippingcompanies,insurance wind energycompanies,miningcompaniesandrelated EPC operators,oil,gasand andterminal port clients aregovernments, good prospectsforbalancedandsustainedgrowth.Our main

TOWAGE cable installation. VBMS isaleadingplayerintheEuropeanmarketforoffshore offshore pipeline,cableandrockinstallation.Oursubsidiary complementedwithdredging, as welldivingandROVservices liftandinstallationwork, intheareasofheavytransport, expertise theseactivitiesBoskalisappliesits Inperforming wind farms. pipelinesandcablesoffshore facilities, offshoreplatforms, maintenance anddecommissioningofoilLNGimport/export as windpower. We areinvolvedintheengineering, construction, oil andgascompaniesprovidersofrenewableenergysuch energysector, theactivitiesofinternational supports including Boskalis With itsoffshorecontractingcapabilitiesandservices OFFSHORE ENERGY remediation. specialistworkssuchassoilimprovementand we alsoperform in additiontodikeandriverbankrelatedprojects.Indoingso, of roadsandrailroads,bridges,aqueducts,viaductstunnels execution oflarge-scalecivilinfraworks,suchastheconstruction infrastructure projects.Thisinvolvesthedesign,preparationand In theNetherlands,Boskalisalsooperatesasacontractorofdry earthmoving. dredging techniquesanddry addition, Boskalisisactiveintheextractionofrawmaterialsusing andcoastaldefenseriverbankprotection.In and waterways, we providealsoincludetheconstructionandmaintenanceofports for examplecoastalprotectionorlandreclamation.Theservices from thesea-orriverbedandreusingitelsewherewherepossible, all activitiesrequiredtoremovesilt,sand,clayandotherlayers Traditionally, thecoreactivityofBoskalisisdredging.Thisinvolves DREDGING &INLANDINFRA anywhere intheworld. complex projectsontime,safelyandwithinbudget, have proventimeandagainthatweareabletorealize experience inengineeringandprojectmanagementwe fleetandextensive approach, versatilestate-of-the-art multidisciplinary techniques. Withourgreatexpertise, specialist knowledgeofenvironmentallyfriendly Boskalis isrenownedforitsinnovativeapproachand ACTIVITIES unberthing of tankers at oil and LNG terminals aswell additional oftankers atoiland LNGterminals unberthing and include assistance withtheberthing Lamnalco. These services throughSmit management of onshoreandoffshoreterminals fortheoperation and In additionweofferafullrange ofservices in theAmericasandKotugSmit Towage Europe. inNorthwest KeppelSmitTowageregional partners: inAsia,Saam SmitTowage aroundtheworldthrough jointventureswith vessels inports We provideassistancetoincomingand outgoingoceangoing platforms underchallenging circumstances. platforms and boastasuccessfultrackrecordinsalvagingvessels remove hazardoussubstancessuchasheavyfueloilfromwrecks hazard. We neededto havetheadvancedtechnologyandexpertise anobstructionto trafficorpresentsanenvironmental wreck forms almostalwaystakesplaceatlocationswherethe offshore platforms Rotterdam andSingapore.Theremovalofshipwrecksordamaged shippingroutes:Houston,CapeTown,along themaininternational by operatingoutoffourlocationswhicharestrategicallysituated action atanytimeandanywhereintheworld.We areabletodoso removal. We assistvesselsindistressandareabletospringinto relatingtomarinesalvageandwreck Boskalis providesservices SALVAGE reefers, ro-rovesselsandmixedcargoships. 35 countries,includingoilandchemicaltankers,containerships, locationsin andterminal we assistvesselsinaround100ports connections.Withterminal aversatilefleetofover400vessels maintenance, firefighting,andthecouplinguncouplingof suchaspilotage,subseainspectionand services support 9 CSR 2017 – BOSKALIS 10 CSR 2017 – BOSKALIS Boskalis at a glance on sustainableprofitability. our clientsandstakeholders,based We aimtocreatenewhorizonsfor and dialoguewithourstakeholders. strategy, andongoinginteraction derived fromthecorporatebusiness to oursuccess.OurCSRstrategyis relevant marketdevelopments,iskey that isreviewedregularlyinlightof execution ofthecorporatestrategy, sustainable value.Systematic Boskalis isthecreationoflong-term The principalstrategicobjectiveof Based onOECD GuidelinesforMultinational Enterprises. BOSKALIS APPROACHTOPOTENTIALADVERSEIMPACT CSR STRATEGY Cease orprevent potentialimpact Remedy Caused by Boskalis actual impact impact contribution to prevent Cease or Environmental Socio-economic and/or POTENTIAL ADVERSEIMPACT Contributed tobyBoskalis risk decision-making,agreedtobyover90ofthelargestglobalfinancialinstitutions. responsible adopted theEquatorPrinciples:aglobalsustainabilityframeworksupporting as theWorld Bankand, increasingly, have commercialbanks.Thelatterfinancialparties oftherequirementsimposedbyprojectfinanciers,such licenses. Theycanalsobepart client, inorderfortheclienttocomplywithlocallegislationandobtainnecessary community andthenaturalsurroundings.ESIAsareoftenpreparedonbehalfofour to analyze,assessandmeasurethesocialenvironmentaleffectsofaprojecton an EnvironmentalandSocialImpactAssessment(ESIA).ESIAsareawidelyusedmethod cases, ourapproachtosocialandenvironmentalaspectsoftheprojectisprescribedby Each projecttakenonbyBoskalisisuniqueandrequirestailor-made solutions.Inmost tominimizenegativeimpactsandmaximizepositiveones. challenges andopportunities: also drivetheexecutionofourCSRstrategy. Theexpansionofourbusinessoffersboth world trade,growingenergyconsumption,populationgrowthandclimatechange– growth–growing The fourmacrotrendsthatarethekeydriversofourlong-term expanding ourbusinessbasedoninnovativesolutions. onoptimizingourriskmanagementapproachand be successfulinthelongterm, to our businessandforstakeholders.Theyhelpusfocusonwhatismostimportant sustainable andinnovativesolutions.Ourmaterialthemesaddresswhatisrelevantfor for related toouroperationsandincreasinglycreatesprofitableopportunities the realizationofourcorporatestrategy. Itmitigatesenvironmentalandsocialrisks approach ourimpactontheenvironmentandcommunities.OurCSRstrategysupports our CSRstrategy. CSRisthewayinwhichwe,asabusinessoperatingworldwide, Boskalis’ threestrategicpillars:Focus,OptimizeandExpand,arealsothebasisof

possible impact asmuch mitigate remaining Use to leverage to or mitigatetheimpact causing theadverseimpacttoprevent Use relation products orservices,causedbyabusiness Directly relatedtoBoskalis’operations, leverage toinfluencetheentity

magazine, press releases,ourwebsiteand personalcontact. of conferences andexhibitions,ourCreating NewHORIZONS onourcompanyandbusiness byway Clients arekeptinformed leadership andalignsustainable designandexecution. project. Italsoenablesusto, wherepossible,takeproject understanding ofclientexpectations throughoutallphasesofa launched BoskalisWay ofWorking systemensuresthereisaclear a climateofmutualawarenessandunderstanding.Thenewly processes andbringprojectstoasuccessfulconclusion,we foster the offshoreenergysectorandinfrastructure.Inorderto align Our principalclientsoperateinmarketsegmentsrelated to ports, CLIENTS materiality matrix. employees. TheCouncilwasalsoconsultedforthereview ofour regularly consultedregardingmajortopicsaffectingBoskalis role inthewayweoperateourbusiness.TheWorks Councilis Talented, enterprisingandhighlyskilledemployeesplayacrucial contracts. hired locallywherepossible,andontemporary contracts. We alsouseemployeesdrawnfromaflexibleshell, are largelyproject-based,themajorityofourstaffhaspermanent Our employeesarethekeytooursuccess.Althoughactivities EMPLOYEES stakeholdergroupsare: Our mostimportant acceptance ofouractivitiesinsensitiveareas. understand theirinterestsandexpectations,toincreasethe stakeholders addsconsiderablebenefitstoourbusiness.Ithelpsus have aninfluenceonBoskalis. We believethatinvolvingour inBoskalis, areinfluencedbyouractivitiesor have aconcern Our stakeholdersaredescribedasgroupsand/orindividualsthat ENGAGING WITHOURSTAKEHOLDERS we can,aimtopromotepositivecontributions. position toinfluencetheentityresponsibleforimpact.Where these. We exerciseourleveragetobringchangeifweareina tomitigateorremedy resulting fromouractivities,andotherwise We seektoavoidorminimizethepotentialadverseimpacts environmental impactscanbenegative,ifnomeasuresaretaken. –specificsocialand – atthesiteofactualintervention and prosperityofthesurroundingarea.However, atmicrolevel our projectsismostlypositiveatmacrolevel,enhancingthesafety widelyintheirpotentialimpact.Theimpactof Our activitiesvary project-specific environmentalandsocialmonitoringprocesses. managed. We dosobydevelopingandapplyingourown, ensure environmentalandsocialrisksareidentified,assessed ofthework.Inothercases,we ESIA conditionsrelatedtoourpart In caseswhereanESIAisused,wearerequiredtocomplywiththe in 2017.Thistoolcreates by BoskalisandleadingDutchmaritimeplayers–waslaunched compliance. ThenewBlueScanimplementationtool–co-created Supplier CodeofConduct.Annualimplementationscansmonitor goods andconsumables.OursuppliersareboundbytheBoskalis andfacility equipment,wearingandconstructionparts and survey andhydraulics,electronics subcontractors,machinery of services, which 81%arestrategicsuppliers–forthecentralprocurement Boskalis maintainsrelationshipswitharound1,400suppliers–of SUPPLIERS ANDSUBCONTRACTORS Germany and France. Germany and theremainder inmainlytheNetherlands, Norway, Spain, are heldbyshareholdersinthe US,7%intheUK,4%Canada Besides theselargeshareholders, anestimated15%oftheshares State StreetCorporation:3.01% Oppenheimer Funds,Inc.:3.07% Marathon AssetManagement:3.57% Blackrock Inc.:4.87% Sprucegrove InvestmentManagementLimited:5.16% HAL InvestmentsB.V.: 35.71% Boskalis sharecapitalasat31December2017: register oftheAFM,tohavebeenholdersatleast3% in The followingshareholdersareknown,basedonthepublic INVESTORS ANDSHAREHOLDERS ‚ ‚ ‚ haveresultedin: partnerships our experienceandknow-howtobringaboutchange.Our knowledge centers.Inthisway, we areinapositiontoleverage NGOs, sectororganizations,educationalinstitutionsand with involved inalargenumberofcross-sectorpartnerships thatweareembeddedinsociety: to doso,itisimportant create valueforBoskalisandsocietyatthesametime.To beable widelyintheirpotentialimpact.WeOur activitiesvary aimto NGOS ANDCIVILSOCIETYORGANIZATIONS worldwide tomakesustainablechoicesinproductsandservices. approach andisaconcreteincentiveformaritimesuppliers The tooloffersclientsaccesstoawell-foundedsustainability to adhereonestandardandreceiveonlyauditrequest. sharinginthesupplychain,andsuppliersonlyneed information sustainability expectations ‚ ‚ ‚ beaches ofwastebywaytheBoskalisCleanupTour. ofTheOceanCleanup,andrid Ocean throughoursupport totackletheplasticgarbagepatchinPacific The opportunity dismantling ofvessels. leaderinthesustainable Recognition ofBoskalisasindustry in theNetherlands. Boskalis projectssuchasinIndonesiaandtheMarkerWadden The adoptionoftheBuildingwithNatureprograminmajor andprocessimplementation.Itenables unity and clarity for all parties regarding unity andclarityforallparties 11 CSR 2017 – BOSKALIS 12 CSR 2017 – BOSKALIS Boskalis at a glance BUSINESS CONDUCT CARE FORHUMANCAPITAL IMPACT ONTHEENVIRONMENT IMPACT ONLOCALCOMMUNITIES 18 20 19 14 12 10 16 17 15 13 11 4 2 9 8 6 5 1 7 3 MATERIALITY MATRIX MATERIALITY benchmarks and reporting frameworks,combinedwithamedia benchmarks andreporting third party, makinguseofalonglistCSR topicsbasedonCSR analysis. Alistofrelevanttopicswasdrawnupbyanindependent More than70stakeholderswereconsultedforourmateriality strategy toguidebothourbusinessandCSRobjectives. and outsideofourcompany, wecaninteractandalignour By activelyengagingwithrelevantstakeholdersatalllevelswithin materialCSRthemes. stakeholders tore-assessthemostimportant updated in2016.In2017,weonceagainengagedwithour In 2015wedefinedourmainmaterialthemes.Thesewere subject tochange. stakeholders is andexternal their relevanceforbothinternal on theother. Althoughmaterialtopicsremainthesameovertime, Boskalis ontheonehand,andforourvariousstakeholdergroups oftopicsfor to gaininsightintotherelevanceandimportance relation toouractivities.To thisend,weuseamaterialityanalysis identify andassesswhichmaterialtopicsaremostrelevantin between stakeholderexpectationsandbusinessaspirations,we For afocusedstrategicapproach,aimedathealthybalance MATERIALITY ANALYSIS possible regardingourstrategyandfinancialperformance. our financialstakeholdersascompletelyandtransparently website andpersonalemailsphonecalls.We strivetoinform project visits,meetings,conferences,pressreleases,theBoskalis market developmentsthroughtheGeneralMeetingofShareholders, on ourbusinessand general Our financial stakeholders areinformed BUSINESS CONDUCT CARE FORHUMANCAPITAL IMPACT ONTHEENVIRONMENT IMPACT ONLOCALCOMMUNITIES 20 18 19 14 12 10 16 17 11 15 13 4 2 9 8 6 5 1 7 3 Taxes Responsible sourcing Responsible business conduct Economic performance Diversity Talent management Fair laborpractices Sustainable employability Health andsafety Ballast water Ship dismantlingandrecycling Turbidity Waste managementandeffluents Energy transition Climate changeadaptation Emissions Impact onbiodiversityandecosystems Community investments Stakeholder engagement Local development Taxes Responsible sourcing Responsible business conduct Economic performance Diversity Talent management Fair laborpractices Sustainable employability Health andsafety Ballast water Ship dismantlingandrecycling Turbidity Waste managementandeffluents Energy transition Climate changeadaptation Emissions Impact onbiodiversityandecosystems Community investments Stakeholder engagement Local development

IMPORTANCE FOR STAKEHOLDERS

BUSINESS IMPACT IMPORTANCE FOR STAKEHOLDERS BUSINESS IMPACT 16 16 20 20 3 3 and BusinessConduct Capital, ImpactonLocalCommunities,theEnvironment were dividedintothefourthematicareas:CareforHuman topics, includingupdatedandBoskalis-specificdefinitions. Topics of20relevant and apeeranalysis.Thisresultedinnewshortlist stakeholders through an online survey anddeskresearch. stakeholders throughanonlinesurvey (see page19). ofourSocialImpactProgramlaunchedin2016 importance topics,underliningthe was rankedasoneofthemostimportant followed bydefiningnewtopics.ThetopicLocalDevelopment and ImpactonLocalCommunities,amoregranularapproachwas topics. To gainmoreinsightintothemainthemesBusinessConduct Biodiversity andEcosystemsremainsoneofthemostimportant Safety, Impacton whichhasgainedconsiderablyinimportance. remained thesameasin2016.OneexceptionisHealthand materialtopicshave Generally speaking,themostimportant has beendrawnupbasedonthem. report These topicsarethekeyelementsofourCSRstrategyandthis –arefeaturedinthetoprightofmatrix. relative importance prioritized byBoskalisandourstakeholders–basedontheir matrix arerelevanttoBoskalis.Thetopicsthathavebeen opinions amongststakeholdergroupsmayvary. Allthemesinthe The resultingmaterialitymatrixis,bydefinition,asnapshotand MATERIALITY MATRIX to themmost.Boskalismanagementwasaskeddothesame. Stakeholders wereaskedtorankandscorethetopicsthatmattered 11 11 10 10 8 8 9 9 14 . 14 Thesetopicswerepresentedtoour 13 19 13 19 7 7 15 2 15 2 6 6 18 4 18 4 1 1 17 17 5 5 12 12 13 CSR 2017 – BOSKALIS 14 CSR 2017 – BOSKALIS Boskalis at a glance MACRO DRIVERS ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ INPUT highest standardsofsafetyandintegrity. innovative andcompetitivesolutionsforourclientsworldwide.We dosoatthe chain andourstakeholders.Thankstoglobalpresence,weimplement toourclientsinclosecollaborationwithsupply leading maritimeservices we provide Based onourengineering,environmentalandtechnicalexpertise, valueandnewhorizons. Our businessmodelisaimedatcreatinglong-term BUSINESS MODEL FINANCIAL CAPITAL BUSINESS CONDUCT CARE FORHUMANCAPITAL IMPACT ONTHEENVIRONMENT IMPACT ONLOCALCOMMUNITIES ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ Funding (shareholderequity &debt) Strong balancesheet 900 vessels Boskalis Way ofWorking Business principles Codes ofConduct Engineering expertise 10,700 employees Talent management NINA Environmental expertise Energy Natural resources Operating in90countries Social ImpactProgram Community investments Stakeholder engagement GROWTH INTRADE FOR ENERGY GROWING DEMAND



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S M R H W A O ORK RE E NE RGY OUTCOME FINANCIAL CAPITAL CARE FORHUMANCAPITAL IMPACT ONTHEENVIRONMENT IMPACT ONLOCALCOMMUNITIES BUSINESS CONDUCT ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ Market capitalization Taxes Dividend Responsible sourcing Responsible businessconduct Fair laborpractices Sustainable employability Health &Safety Climate changeadaptation Emissions Biodiversity andecosystems Partnerships relationships Long-term Local development CLIMATE CHANGE CLIMATE CHANGE integrate stakeholderinterestsandalignsustainabledesign system enablesusto,wherepossible,takeprojectleadership, professionally andefficiently. CSRisembeddedin WoW asthis together, focuseffectivelyonclientneedsandexecuteourprojects Way ofWorking enablesustostrengthenthewaywework The complementing existingprocesses,toolsandcertifications. customerapproach, an integratedbusinessprocessanduniform system waslaunchedcompany-widein2017.Theenables The new, BoskalisWay uniform ofWorking qualitymanagement creating sustainablesolutions. ofouremployees,toaddvalueforclientsin the expertise strength liesindeployingourownmaritimeassets,combinedwith land reclamationandthefacilitationofenergytransition.Our for Boskaliswithagrowingneedfloodprotectionmeasures, change isarisk,butalsocontinuestocreatebusinessopportunities global tradeanddemandforrawmaterialsenergy. Climate drivesgrowthin prosperity oftheglobalpopulation,whichinturn Our strategyisdrivenbythestructuralgrowthandrising Long-term sustainableprofit Long-term Satisfied clients engaged employees environment withskilledand A safeandinspiringwork and riverbankprotectionprojects change throughourcoastaldefense Limiting theconsequencesofclimate projects through ourrenewableenergy Contributing tocleanenergy growth andjobcreation A positivecontributiontoeconomic community healthier andmoreprosperouslocal thatcontributetoasafer,Services IMPACT SDGs

the macrodrivers. providedby also allowsustotakeadvantageoftheopportunities fleet,enablesustominimizeandmitigaterisks.It state-of-the-art approachandaversatile specialist knowledge,amulti-disciplinary entrepreneurship andteamwork.Boskalis’uniqueofferingof by ourcompanycultureanditscorevalues:professionalism, Within thesedivisions,theexecutionofourstrategyisguided Dredging &InlandInfra,OffshoreEnergyandTowage &Salvage. The Boskalisbusinesscomprisesthreemarket-facingdivisions: pointforourstakeholderengagement. asthedeparture serve and thebackboneofourCSRreport The fourmaterialthemesform create newhorizonsforourstakeholders:nowandinthefuture. execution ofourstrategyandthefulfillmentmissionto themes andfinancialcapital.Theseinputsareusedinthe the valueBoskaliscreatesovertime,basedonourfourmaterial of The Boskalisvaluecreationmodelgivesaschematicoverview THE BOSKALISVALUE CREATION MODEL in theappendix. canbefound VCA forDutchoperations.Alistofallcertifications ISM, ISO9001,14001andOHSAS18001,or certified environmental andsafetystandards.AllkeyBoskalisunitsare recognizedmanagement, shows ourcompliancewithinternationally the OECDGuidelinesforMultinationalEnterprises.Certification LabourOrganization,theUNGlobalCompactand International Declaration ofHumanRights.We endorsetheprinciplesof guidelines,includingtheUniversal which isbasedoninternational Boskalis hasaGeneralCodeofBusinessConduct(the“Code”), stakeholders arebecomingevermoredemanding. operating processeshasincreasedandourclientsother of operationsiswiderthaneverbefore,thecomplexityour execution. ThisiscrucialinviewofthefactthatBoskalisrange Life Below Water (SDG14). Innovation &Infrastructure (SDG9),Climate Action(SDG13)and (SDG7), Decent Work &Economic Growth(SDG8),Industry, Good Health&Well-being (SDG3),Affordable &CleanEnergy communicate ourprogressand achievementsonthem.Theseare: related toourmaterialthemes, givingusthemeanstomonitorand business ourimpactpergoal varies.AnumberofSDGsisclosely (SDGs). We endorsealltheseSDGs,but duetothenatureofour better futureforall,basedon17SustainableDevelopment Goals In 2015,theUnitedNationsadoptedaplanforachieving a SUSTAINABLE DEVELOPMENT GOALS onourfinancialcapital. 2017reports Report describedinthesubsequentchapters.TheBoskalisAnnual further how thematerialthemesareembeddedinouroperations are correspond withtheoutcomeofourbusinessmodel.Detailson as alsoreflectedintheoutcomeofmaterialityanalysis – considered tobemostrelevantbyBoskalisanditsstakeholders– activities throughamaterialityanalysis.Thosetopicsthatare theme whichmaterialtopicsaremostrelevantinrelationtoour business aspirations,wehaveidentifiedandassessedperinput For ahealthybalancebetweenstakeholderexpectationsand 15 CSR 2017 – BOSKALIS 16 IMPACT ON LOCAL COMMUNITIES 17

Our activities can have a major impact on the social environment we operate in. This impact is mostly positive: our interventions generally enhance the safety and prosperity of the local communities. Where possible, we procure services and goods locally as well as hire local workers. We engage with local communities through support of local organizations and initiatives, community development projects and donations to worthy causes, both directly and indirectly through our clients. We also support education and research programs.

KPIs RESULTS SDGs ‚‚ Diverse employee base ‚‚ Number of nationalities: 64 (page 52) ‚‚ Safety training for local hires ‚‚ Safety training on projects (page 18) ‚‚ Community investment programs ‚‚ EUR 500,000 in sponsorship and donations ‚‚ Support of education and research in the Netherlands (page 22) ‚‚ 193 interns, graduates and PhD students (page 23)

RISKS & DILEMMAS OPPORTUNITIES & GOALS ‚‚ Our leverage towards our client or ‚‚ Provide employment to local employees government bodies may be limited with fair wages, good labor practices and ‚‚ Availability of qualified local employees respect for human rights and suppliers ‚‚ Purchase goods and services from local ‚‚ We have no or very limited influence on suppliers infrastructure investment decisions ‚‚ Build infrastructure facilitating further ‚‚ We seldom have leverage with regard to economic growth and employment the further development of the infrastructure opportunities we build

18 LOCAL DEVELOPMENT

19 SOCIAL IMPACT PROGRAM

22 COMMUNITY INVESTMENTS 18 CSR 2017 – BOSKALIS Impact on Local Communities training of local, mostly permanent, staff. training oflocal,mostlypermanent, presenceand maketargetedinvestmentsinthe a permanent Sweden, theUnitedKingdom,MexicoandSingapore,wehave staff. Inanumberofcountries,includingGermany, Finland, clinicandhiremedical wesetupatemporary where necessary projectsiteand The localmedicalfacilitiesareassessedatevery facilities andmeansofkeepingintouchwiththehomefront. We takecaretoprovidedecentaccommodation,recreational Mexico andtheDuqmprojectinOman. andVeracruz Airport International expansionprojectsin port a largenumberofprojects,includingtheNewMexicoCity training isgiven.In2017,safetywasgiventoworkerson work andsafetystandards.Ifnecessary, specificadditional outtheirwork,accordingtoourhigh workers areabletocarry staff). NINAsafetytrainingisprovidedtoensurethatlocal operations (suchasengineers,welders,deckhandsandworkshop procurement, PR,catering,securityandaccommodation) (suchasHR,SHE-Q,financialadministration, visas), support ofpeople,goodsandequipmentarranging the transport a project,wecanofferjobsinareasincludinglogistics(suchas may beupto90%.Dependingonthenature,sizeanddurationof employmentcontracts On theseprojects,theshareoftemporary workers. We offerfairwagesanddecentworkingconditions. On projectswhereourpresenceistemporary, weaimtohirelocal DEVELOPMENT LOCAL both in the short andlongterm. both intheshort often recognizedasstimulatinglocaldevelopmentandprosperity communities forourprojects.Ourapproachandprojectsare themselves. Inthisway, wehelpincreasebuy-infromlocal local economy, butalsomaketheprojectbeneficialforpeople By employingandprocuringlocally, wenotonlystimulatethe Supplier CodeofConduct,pleaseseepage60. onour applicable toourlocalsuppliers.Formoreinformation possible weuselocalshipyards.OurSupplierCodeofConductis floating equipment.Officespaceismostlyrentedandwhere and equipmentsuchascars,trucks,bulldozers,cranessmall forourequipment,safetyproducts wearing andconstructionparts possible. Suchgoodsmayincludefuel,food,facilityconsumables, We fromlocalsupplierswhenever purchasegoodsandservices guidelines. CSRframeworksand while alsotakingintoaccountinternational approach isrequiredtoaddressenvironmentalandsocialrisks, of thefactthateachourprojectsisunique,atailor-made we havemoreinfluenceoversuppliersthanclients.Inview limited dependingonthebusinessrelationship.Forexample, responsible fortheimpact.However, ourinfluencecanbe to bringchangeifweareinapositioninfluencetheentity tomitigateorremedythese.Weotherwise exerciseourleverage avoid potentialadverseimpactsresultingfromouractivities,and impacts maybenegative,ifnomeasuresaretaken.We seekto –specificsocial micro level–atthesiteofactualintervention the safetyandprosperityofsurroundingarea.However, at impact ofourprojectsismostlypositiveatmacrolevel,enhancing environmental andsocialprogresswhereverweoperate.The We aimtopromotepositivecontributionseconomic, increasingly becomingalicensetooperate. impact. Apracticalandeffectivesocialimpactapproachis canhaveasocial inland infrastructuralactivitiesinparticular change –aredrivinggrowthinallourdivisions,dredgingand an increaseinglobaltrade,populationgrowthandclimate from theinitialdesignofaproject.Asmacrotrends–suchas in ourorganizationandsomethingthatwetakeintoaccountright Consideration fortheenvironmentisafeaturedeeplyembedded PROGRAM SOCIAL IMPACT generic regulatory framework. generic regulatory requirements andclientinterestsnotjustbebasedona of projectprofiles,ourcompanyspecificapproach,local reason, ourmethodologymustbeapplicableforawiderange and thecorrespondinglevelofresponsibilitywehave.Forthis As socialimpactdiffersforeachproject,wemustdefineourrole topic isembeddedintenderingprocessesandprojectexecution. By creatingsocialimpactawarenessthroughoutBoskalis,this Conduct. Code ofBusinessConductandtheBoskalisSupplier Standards,theBoskalisGeneral Enterprises, theIFCPerformance The programisbasedontheOECDGuidelinesforMultinational ‚ ‚ ‚ objectives: footholdwithinourorganization.Theprogramhasthree a firm out asocialimpactapproachthatgivesthisaspectofouractivities The SocialImpactProgramthatwaslaunchedin2016,aimstoset ‚ ‚ ‚ procedures onprojects. Consistent applicationofoursocialimpactprinciplesand profile. phase toidentifyprojectsthathaveapotentialhigherrisk To developastandardevaluationmechanisminthetender frameworksthatdefinesocialimpactstandards. the international To increasein-companyawarenessofoursocialimpactand 19 CSR 2017 – BOSKALIS 20 CSR 2017 – BOSKALIS Impact on Local Communities VALUABLE LESSONSLEARNT DUQM PROJECTINOMAN: outcomes. impacts, butactuallycreatingpositive to thesuccessbooked:notsimplymitigating Program. ‘Awareness’ outtobekey turned for testingandimplementingourSocialImpact ofDuqminOman,wasusedaspilot the Port in terminal ofabulk liquidberth construction In 2017theengineering,designand quickly interested to learn andshare. Theround table talksthat we quickly interested tolearn were outtobesosuccessful, otherparties collaborative approach turned because our carriesitsown responsibilities.Nevertheless, each party ofDuqm MasterPlan,inwhich ofthemuchlarger Port “Our projectispart analyze andmitigatepotential adverseimpacts.” relevant stakeholders.Thisresulted inapracticalplanofapproachtoidentify, situation, wewereabletocollaborate effectivelywiththeclientandother cultural, economicandsocialcontext.Duetoourawareness ofthe‘asis’ andplacethesewithinthelocal potential socialrisksandopportunities to theclosecollaborationwithourclient–wewereable identifythe earlystagealready–andthanks Social ImpactProgramexplains:“Atavery Lara Muller, directorofPublicAffairs atBoskalisandresponsibleforthe “BECAUSE OURCOLLABORATIVE APPROACH The following lessons were learnt in the start-up oftheproject: inthestart-up The followinglessonswerelearnt approach.” of theclienttoengagewithusonthesemattersisconditionalsuccessour to putafarmoreeffectiveapproachinplaceonmasterplanlevel.However, willingness environmental andsocialchallenges.Inthisway, wemanagedtoconvincethe client toaddress subsequently initiated,enabledustouseourleveragegetotherparties practice, in which partners were eagertoparticipate.” practice, inwhichpartners Importantly,partners. our clientinDuqmlabelledour Social ImpactProgramasbest side, CSRcan be acatalystformutuallybeneficial collaborationwith our clientsand jobs andstimulatesthe(local) economy. Infact,by alsofocusingontheopportunities- economy andwelfareofthe people. Theinfrastructurethatwedesignandbuildcreates Our projectsultimatelyhave a positiveimpactonlocalcommunities,their potentially adverseimpacts.However, thisgivesaone-sided viewofouractivities. StandardsandtheOECDGuidelines,tendtofocus on therisksand Performance frameworksthatweuse,suchastheIFC throughout theproject.Theinternational both thepositiveandpotentialnegativeimpactsthatoccur, resultingfromouractivities developourSocialImpactProgram,wemustidentify andaddress “In ordertofurther ‚ ‚ ‚ TO LEARNANDSHARE” TURNED OUTTOBESOSUCCESSFUL, OTHER PARTIES WEREQUICKLY INTERESTED ‚ ‚ ‚ stakeholder interests,relevanceandthesocio-economic localsituation. project. Suchastakeholdermanagementplanmustbebased onanassessmentof intheimplementationphaseof effectively embedsocialrisksandopportunities A stakeholdermanagementapproachonprojectlevelis a valuablemethodto provided thereisclarityinrolesandresponsibilitiesright fromthestart. project incollaborationwiththeclientatanearlystagehas substantialbenefits, reducesriskandfailurecosts.Addressingsocialaspectsofthe Creating support forjointvaluecreation. uncovers opportunities not onlyaddressespotentialsocialrisksinafarmoreefficientway, butalso prove tobeextremelyusefulindraftingaprojectapproachandexecutionplanthat interests withtheclientandotherrelevantstakeholders.Thesesharedcan Awareness andknowledgeofthelocalcontextisbasisfindingshared

21 CSR 2017 – BOSKALIS 22 CSR 2017 – BOSKALIS Impact on Local Communities nourishment operation tostrengthen thecoastlineand improvethe organized abeach cleanupafterBoskalis had executedabeach Similarly, intheUnited Kingdom,BoskalisWestminster colleagues a landfallontheFrenchcoast heldaspontaneousbeachcleanup. Boskalis BeachCleanupTour. ColleaguesfromVBMSworkingon spontaneously takentoorganizing theirown,localversionofthe organization andfarawayfrom theNetherlandshave encouragingtoseethatcolleaguesacrossthe It isvery Seacoast. alongthefulllengthofDutchNorth fortnight 2,748 volunteerscollected14,929kilogramsofwastein a for thefifthyearrunning.EarlyAugust,arecordnumber of the BeachCleanupTour SeaFoundation organizedbytheNorth as asocialresponsibility. Thatiswhywearethemainsponsorof activities sinceourinception.We seecleanseasandbeaches Protecting theDutchcoastlinehasbeenoneofcoreBoskalis BOSKALIS BEACHCLEANUPTOUR events. sporting Center,research andtheDutchBurns aswellculturaland by ourlocalofficesin2017.Thisincludedsponsorrunsforcancer Many communityinitiativeswerecarriedoutatprojectleveland INVESTMENTS COMMUNITY will befloatedin2018. the updateddesign.Expectations arethatthefirstworkingsystem Seaprototypewasdeployedtoverify elementsof a newNorth fromBoskalis.InAugust, design inclosecollaboration withexperts 2016, thefocusin2017was onanewandimprovedsystem Seaprototypetestin 5 years.BasedontheresultsofNorth a full-scalesystemrolloutcouldcleanupto50%ofthepatch in Hismodelsindicatethat Patch betweenHawaiiandCalifornia. develop aninstallationtocleanuptheGreatPacificGarbage initiative ofBoyanSlat,ayoungDutchentrepreneur, whoaimsto We TheOceanCleanup:an continue tosponsorandsupport THE OCEANCLEANUP ofAppreciationfromtheclient. rewarded withaCertificate employees fromourclientandsubcontractor. were Theirefforts number oflocalbeaches.Theywerejoinedbyenthusiastic in AbuDhabi,theBoskalisprojectteamdecidedtocleanupa quality ofthebeach.Andduringexecutionalandfallproject of the Port Museum. of thePort The boatwillbe accessibleforpublicviewing alongthequay isavaluable additiontothemuseum’sthe Geertrui collection. in 1932andusedbyBoskalis since1976forofficialoccasions, historical woodenfishingvessel tothemuseum.BuiltinVlissingen boats. Thisyear, ‘hoogaars’ Boskalissoldasuperblypreserved historicalsailing-andmotor Zeeland collectsandpreserves MuseumintheDutchcoastal provinceof Zierikzee Port HISTORICAL FISHINGBOAT FORZIERIKZEEPORTMUSEUM palletsoffoodandwaterfromtheRoyalNetherlandsNavy.forty foodand disaster reliefcontainerfromtheRedCross,containingdry a substantial amount of cargo from third parties, includingalarge a substantialamountofcargofromthirdparties, Inaddition toitsowncargo,Boskalisalsoloaded of SaintMartin. Curaçao andAruba,deliveredtothehurricane-stricken island Alpine,in water wereloadedontoourship,theFairmount palletsofdrinking of InfrastructureandtheEnvironment.Forty vesseltoprovideaidattherequestofDutchMinistry transport Boskalismobilizeda Saba hadbeenhitbyHurricaneIrma, After theWindwardSintEustatiusand IslandsofSaintMartin, HURRICANE IRMA encountered on boardwhenworkinginremote locations. with alimitedbandwidth,an operationalconstraintfrequently on boardourships.Theonline appwasdesignedtoalsowork developing adigitalsolution thathelpsusimprovemedicalcare isMedAssist.online.Theywere successfulin One ofsuchstart-ups theminbringing theirideastomarket. to support and is focusedonbeingincontactwithyoung,dynamicstart-ups Erasmus UniversityCentreforEntrepreneurship.Ourparticipation operating companiesandthe Rotterdam, variousinternationally inthemaritimesector.start-ups of arethePort Otherpartners XL,aninitiativeaimedataccelerating inPort Boskalis participates and PhDstudents:atotalof193in2017. and Wageningen University. graduates interns, Boskalissupervises facilitate aduallectureshipbetweenDelftUniversityofTechnology knowledge sharingthroughlecturesandpresentations.We relevance tooursector. We fundamentalresearch and support We scientificresearchthatisof haveatraditionofsupporting SUPPORTING SCIENTIFICRESEARCH&EDUCATION on a stretch of North SeabeachintheNetherlands. on astretchofNorth Boskalis BeachCleanupfamilydayforemployees,collectingwaste 23 CSR 2017 – BOSKALIS 24 CSR 2017 – BOSKALIS Impact on Local Communities A CLEANERHORIZON CLEANUP: CONTRIBUTINGTO BOSKALIS ANDTHEOCEAN technology toridtheoceansofplasticwaste. inthedevelopmentofits steps forward The OceanCleanuphastakensomemajor Seaprototypetest.Now,North in2017, sponsorship-in-kind ofTheOceanCleanup’s tackle theproblemofplasticsoup,through later, step inhelping Boskalis tookafurther SeaFoundationin2013.Ayear by theNorth sponsor oftheBeachCleanupTour organized world’s oceans,Boskalisbecamethemain Aware oftheproblemplasticpollutionin Heyerdahl Award in2017. AwardEarth andhasreceivednumerous otherawards,including theThor Boyan Slat.Heistheyoungest everrecipientoftheUN’s Champion ofthe The OceanCleanupisthebrainwave oftheyounginventorandentrepreneur FROM BRAINWAVE TOPROMISINGSOLUTION helping developtheinnovativesolutionsrequiredtofulfill thisgoal. is tocleartheworld’s oceansofplastic. Boskalisisactivelyinvolvedin been takenupbyTheOceanCleanup.Usingadvancedtechnologies, itsaim Ridding theworld’s oceansfromplastic soupisadauntingchallengethathas

“THANKS TOSUCHPIONEERING of nature!” thing aboutthissolutionisthatthewholeconceptpowered byfreelyavailableforces alignment withthedrivingforces,thusenablingmaximum wastecapture.Thegreat seabed anchoringaren’t required.Importantly, thesmallboomshaveanexcellent variations inwind,wavesandcurrentsisamajorbenefit.What’s more,propulsionor drifting outoftheocean’s garbagepatches.Thetoleranceofthesmallerboomsto free-floating boomsinsuchawaythattheycontinuouslycollectfloatingdebris,without Together withtheengineersofTheOceanCleanup,wemanagedto design the weoftensucceedinfindingfittingsolutions. questions, andbasedonourexpertise, challengetoovercome.But,byaskingtheright innovationhasitsownparticular every with thedeploymentoffloatingsystemsinamarineenvironment. We alsoknowthat innovationprocessesandtonsofpracticalexpertise wealth ofexperienceinsupporting developthisconcept.AtBoskalis,we havea providing know-howandinsightstofurther passive collectionofwaste.Duringthispastyear, BoskalishelpedTheOceanCleanup, waves andcurrent.Thissolutionwasquicklyrecognizedasapromisingenablerforthe the ideaemergedforsmaller, free-floatingboomsthatwouldbedrivenbythewind, “Basically, itwasbacktothedrawingboardforTheOceanCleanup.Itthen that conclusion thatthesystemneededconsiderabledesignrevisions.” Seain2016.Thislivetestprovidedvaluableinsightsleadingtothe the North actively involvedinTheOceanCleanuppilots.“Boskalishelpedtoinstallaprototype Grundlehner,anchors,” explainsGertjan HeadR&DBoskalisOffshoreTechnology, and than 100kilometers.Theboomwastobefixedthe4,000meterdeepseabedby picked upbyboats.Theinitialideawastodeveloponelargeboomspanningnoless currents. Theboomspassivelycatchandconcentratedebrisinthecenter, whichwillbe “Slat’s designinvolvesmassiveboomsthatcollectmarinelitterusingtheocean’s WE HOPETOBETTERPROTECTOUROCEANS INNOVATIONS ASTHEOCEANCLEANUP, FOR FUTUREGENERATIONS” up whathasalready accumulatedintheocean. of thisplasticsouprequiresa combinationofclosingthesource,andcleaning plastic willimpactourecosystems, healthandeconomies.Solvingtheproblem Iflefttocirculate,the Garbage Patch,locatedbetween HawaiiandCalifornia. are fiveofsuchoceangarbage patches,thelargestonebeingGreatPacific subtropical gyres,alsoknown astheworld’s ‘oceangarbagepatches’. There Ocean currentsconcentrateplasticlitterinfiveareasthe world:inthe PLASTIC LITTER OCEAN GARBAGEPATCHES –OVER 5TRILLIONPIECESOF

25 CSR 2017 – BOSKALIS 26 CSR 2017 – BOSKALIS Impact on Local Communities “THE GREAT THINGABOUTTHIS SOLUTION of anew, cleanhorizon.” Thatiswhywearehappytocontributethecreation expertise. approach. Theinstallationofthisinnovativesystemcallsforour matchforourownworking of TheOceanCleanupisaperfect inchallengingconditions.Thepragmaticapproach opportunities sustainable practices,teamworkandthesearchfornew provider,generations. Asamaritimeservice westandfor Cleanup, wehopetobetterprotectouroceansforfuture threat. ThankstosuchpioneeringinnovationsasTheOcean generate globalwasteflowsthatrepresentanever-increasing we alsoproducemorewaste.Theincreasinguseofplasticwill world’s populationcontinuestogrow. But,asweconsumemore, on abeautifulplanet.Globalprosperityistherise,and CEO PeterBerdowskionthebattleagainstplasticsoup:“We live finding thebestsolution.” experience inthisfieldstandstobenefitTheOceanCleanup as tolifeexpectancyandmore.Herealso,ourlong-standing technicalrequirementsandexpectations performance, properties, purpose isallaboutfindingtherightbalancebetweenmaterial weak toweathertheforcesofnature.Choosingamaterialfit-for- Seapilotprovedtobetoo boom. ThematerialusedintheNorth that iscurrentlybeingtackledthechoiceofmaterialfor marine-life friendlyretentionandextractionsolutions.Anotherissue “We’re nowhelpingTheOceanCleanuptofindcost-effectiveand remain inoperation.” also substantiallyless:ifoneboombreaksdown,theothersstill A majorbenefitofsuchaconstellationisthatthefailurecostsare hopes toplaceup60boomsof1,000meterseach. TheOceanCleanup be floatedin2018.Intheslightlylongerterm, the firstboomshaveprovidedproofofconcept.Theboomwill ‘network’ ofboomswhenmorefundingbecomesavailableonce the ocean.Secondly, itallowsTheOceanCleanuptoscaleuptheir “For one,there’s noneedtomakeexpensivefoundationsdeepin systems alsohaveadvantagesinrelationtocostandtime: Grundlehner pointsoutthatindependent,smaller, free-floating SCALABILITY IS THAT THEWHOLE CONCEPTISPOWERED BY THE AVAILABLE FORCES OFNATURE!”

CLEANING UPTO50%OFTHEGARBAGEPATCH source reductionpavesthewaytoaplasticfreeocean. dangerous micro-plastics.Combiningthecleanupwith still large,itispreventedfrombreakingdowninto meters insize.Byremovingtheplasticwhilemostofitis centimeter, uptomassivediscardedfishingnetsoftens downtoone designed tocapturesmallplasticparticles Garbage Patchin5years.Thefloatingsystemsare system couldcleanupto50%oftheGreatPacific The OceanCleanupexpectsthatafull-scalerolloutofthe Deployment of a segment prototype in the North Sea. Deployment ofasegment prototypeintheNorth “THE IDEAEMERGEDFORSMALLER,FREE- BY THEWIND,WAVES AND CURRENT” FLOATING BOOMSTHAT WOULDBEDRIVEN 27 CSR 2017 – BOSKALIS 28 CSR 2017 – BOSKALIS Impact on the environment THE ENVIRONMENT IMPACT ON the largest storm surgebarrierof the DutchDeltaWorks.the largest storm Beach replenishment activitiesneartheOosterscheldekering,

41 40 36 34 30 underlines andelaboratesonthisapproach. philosophy Nature with Building impacts ofouroperationsarereducedandpositiveonesboosted.Thesuccessful sustainability, suchinitiativesarelikelytobebroadly adopted. Thisway, theadverse including technicalcompliance,economicviabilityandscalability, canbealignedwith business casearoundsustainabilityandclimatechange.Iftheobjectives, a commit todeliveringsolutionsandinnovations,basedonwhichwecanalsocreate design ofaproject.We ontheenvironmental impactsofouroperationsand report organization andsomethingthatBoskalistakesintoaccountrightfromtheinitial Consideration fortheenvironmentisafeaturethatdeeplyembeddedinour ‚ RISKS &DILEMMAS ‚ KPIs ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ infrastructure investmentdecisions We limitedinfluenceon havenoorvery ofBuildingwithNatureprogram Support selection criterium clientsfocus onpriceassole Certain Number ofBuildingwithNatureprojects Wind activities farm-related Energy-saving measuresandpilots Reporting onCO Reporting unless clientsarepreparedtopayapremium fuels createsacompetitivedisadvantage, environmentally friendly of costlyalternative CO ofanindustry-wide the formulation Absence of an industry standardprevents Absence ofanindustry Coastal defenserelatedactivities Assistance tovesselsindistress In the absence of regulations, voluntary use In theabsenceofregulations,voluntary 2 reductiontarget EMISSIONS ENERGY TRANSITION CLIMATE CHANGEADAPTATION FLEET RELATED ACTIVITIES BIODIVERSITY ANDECOSYSTEMS 2 emissions

‚ RESULTS ‚ OPPORTUNITIES &GOALS ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ EUR 500,000 Building withNatureprogram Nature approach Protect ecosystemsthroughBuildingwith Building withNatureprojects(page31) farm-related activities farm-related Facilitate renewableenergythroughwind energy-saving schemes Apply environmentallyfriendlyfuelsand riverbank protectionactivities Provide flooddefensethroughcoastaland salvage andwreckremovaloperations Contribute tocleanerenvironmentthrough (page 42) energy reductionplanintheNetherlands Biofuel contractwithGoodFuelsand Scope 1CO Flood protectionprojects(page36) scope 2CO Various salvageactivities(page31) 587 km cables laid for wind farms (page40) 587 kmcableslaidforwindfarms 2 2 3MT(‘000)(page43) 1,220MT(‘000), SDGs 29 CSR 2017 – BOSKALIS 30 CSR 2017 – BOSKALIS Impact on the environment consultancies, NGOsandpublicauthorities. with Natureprogramrepresentacademia,researchinstitutes, was aninitiator, intheBuilding isexecutedbyEcoShape.Partners interests strengtheneachother. Theprogram,ofwhichBoskalis the naturalsysteminsuchawaythatecologicalandeconomic infrastructure solutionsthatutilizeand,atthesametime,enhance 2008 asadesignphilosophyforthedevelopmentofmarine possible. TheBuildingwithNatureprogramwaslaunchedin coasts oralongrivers.Often,hydraulicinfrastructuremakesthis oftheworld’sA largeproportion populationlivesandworksnear BUILDING WITHNATURE economic value. our businessandcancreatebothenvironmentalaswell solutions invulnerableriver, deltaandcoastalareasisessentialto Our abilitytobridgethisgapandofferleadingedgesustainable and operatinginhighlysensitiveareas. ofexploitingnaturalresources pushing theboundariesinterms stringent requirementsasregardsourprojectfootprint,clientsare our licensetooperate.Whereasregulatorsaresettingincreasingly habitats meansthatsustainabilityisessentialtoourbusinessand The urgentneedtoprotecttheworld’s waterresourcesandmarine ECOSYSTEMS BIODIVERSITY AND Mangrove restorationinCentralJava,Indonesia. early project opportunities. Thisyear,early projectopportunities. themangrove restoration Building withNaturephilosophy, thereof,intendersand orparts forBoskalisregionalmanagersinadoptingthe active support Building withNatureprogramwithinthedivisions.Thisincludes year. To thisend,theTaskforce awarenessofthe promotesinternal We aimtorealizeatleastoneBuildingwithNatureprojecta TASKFORCE ECO-ENGINEERING Open OnlineCourse(MOOC). University &Research)offeredaBuildingwithNatureMassive University ofTechnology (withcontributionsfromWageningen other courses.In2017,forthesecondyearrunning,Delft through variousguestlecturerpositions,andpost-academic is availabletotheengineersoffuture.Knowledgeshared vocational colleges.Inthisway, wealsoensurethatthisknow-how acquired withoursector, includinguniversitiesandhigher We sharethewealthofknowledgeandexperiencethatwehave creating sustainablemaritimesolutions. integrating marineinfrastructureswithnatureandsociety, thereby decisionsupfrontabout tomakeinformed empowers theseparties solutions toclients,publicauthoritiesandotherstakeholders.It Building withNatureoffersindependentknow-howandeffective dike over a length of 25 kilometers. This reinforcement is partly dike over alengthof 25 kilometers. Thisreinforcement ispartly workonthereinforcement oftheHoutrib In 2017,Boskalis started HOUTRIB DIKE, THENETHERLANDS forrecreationarecreated. more opportunities which biodiversityisenhanced, waterqualityisimprovedand the MarkerWadden willdevelopintoauniqueecosystem in coming years,astheprojectiscompletedandnaturetakes over, islands tobeconstructedwerefilledwithclaymaterial.In the economically valuablebuildingmaterial.In2017,fourof the project showsthatfineclaycanbereusedasenvironmentally and man-made sandyshoreanddunelandscape.TheMarker Wadden sediment ‘catcher’.Thisarchipelagowillbeprotectedby a forbirdsand construction ofamarsharchipelagonaturereserve improved byusingfineclayfromthelakeanditfor the ecosystem. IntheMarkerWadden project,thisecosystemistobe The presenceoflargevolumesfinesedimentcandisturb an THE MARKERWADDEN, THENETHERLANDS benefits thereofforthelocaleconomy. use intherestoredmangrovegreenbeltandlonger-term acceptance withinthelocalcommunitiesforanticipatedland wasputintocreating self-sufficient. In2017,mucheffort the localeconomyandhelpmakethesecommunitiesmore aquaculture havebeenintroducedintheprojectareatorevitalize of dampen thewavesandcapturesediment.Sustainableforms restoration isaccomplishedbyplacingsmallwoodenbarriersthat sea levelandenablesinclusiveeconomicgrowth.Mangrove stable, sustainablemangrovecoastlinethatcanadapttorisesin The mangroverestorationprojectinCentralJavaaimstobuilda CENTRAL JAVA, INDONESIA BUILDING WITHNATURE IN2017 Hydronamicandseniormanagers. department includes representativesofbothourin-houseengineering Chaired byamemberoftheBoardManagement,Taskforce forMaritimeAffairsandFisheries. and theEuropeanMinistry visited theWorld BankandtheInter-American DevelopmentBank and stakeholders.Inthiscontext,in2017,amongstothers,we Eco-Engineering activelypromotestheconcepttospecificclients collaboration withregionalmanagers,theBoskalisTaskforce have beenmainlyfromthehigh-endsegment.Therefore,inclose clients fullyembraceBuildingwithNature.To date,suchclients Successful implementationoftheconceptalsorequiresthatour Nature approach. Houtrib DikeprojectwerecarriedoutbasedontheBuildingwith project inIndonesia,theMarkerWadden ofthe projectandpart bunker fuelandcargofromwrecks. weremovepotentiallyhazardous substancessuchas expertise, circumstances. Usingadvancedtechnologiesandbased on our underchallenging track recordinsalvagingvesselsandplatforms limiting damagetonaturalsurroundings.We haveasuccessful potential environmentaldisasters.Oursolutionsarefocused on owners withvesselsindistress.Indoingso,weseektoavert toship Boskalis providessalvageandwreckremovalservices obstructs safenavigationorpresentsanenvironmentalhazard. Wreck removaloperationsalwaystake placewhereawreck SALVAGE ANDWRECKREMOVAL event intheNetherlands. MakingWavesgenerated muchinterestduringtheinternational public authoritiesandinvestors.In2017,SeaSpringCities co-developer andinclosecollaborationwiththewatersector, pumping upgroundwater. Boskalisworkedonthisconceptas than conventionalwaterwinmethods,suchasdesalinationor spring citiesmethodcostslessenergyandcausespollution for useincoastalareaswithrelativelyshallowseas.Thissea suitable is basedonaringdikebuiltinthesea.Itparticularly and preventsfreshwaterspillingoutintotheocean.Theconcept Boskalis hasdevelopedaconceptthatexploitssubmarinesprings The availabilityoffreshwaterisagrowingproblemworldwide. SEA SPRINGCITIESCONCEPT in2017. Reserve reefsintheLarvotto installed sixartificial Monaco AssociationforNatureProtection,Boskalissuccessfully IIFoundationandthe collaboration withThePrinceAlbert reefs.In Boskalis hassucceededinproducing3Dprintedartificial Based onanideasubmittedfortheBoskalisInnovationChallenge, development, tourismandseawaterpollutiononmarinelife. Monacohastodealwiththeimpactofcoastal coastal resorts, therefore countlessplantandanimalspecies.LikemanyEuropean However, isseriouslythreateningthecoral,and globalwarming Coral reefsareavitalsourceoflifeforrangeecosystems. 3D REEFS,MONACO collaboration withtheDutchFloodProtectionProgram. developed inapre-competitivestagebyEcoshape,close need toheightenit.Therequiredknowledgeforthissolutionwas and therebyeliminatesthewaveloadsondike,avoiding realized byapplyingasandyforeshorethatattenuatesthewaves Hordafor in Poland. More information isavailable onourwebsite. Hordafor inPoland.More information inEcuador andtherefloatingof the refloating ofthe IslaBartelome with theuseof ourownsheerlegSMITCyclone inSingapore,the oftheHarita Berlian and challengingprojectsincluded therecovery In 2017,weattendedtomore than70marinecasualties.Complex 31 CSR 2017 – BOSKALIS

32 CSR 2017 – BOSKALIS Impact on the environment 3D-PRINTED REEFS MARINE ECOLOGYWITH HELPING RESTORE continues unabated. coral reefshavedied,andthatprocess In recentdecades,abouthalfoftheplanet’s countless plantsandotheranimalspecies. seriously threateningthecoraland,withit, of ecosystems.However, is globalwarming Coral reefsareavitalsourceoflifeforrange with rewardingoutcomes. to successhasbeenfullofchallengesandalso innovative ideas,theroad As withmosttruly actively involvedinthisinnovativeproject. Over thepastthreeyears,Boskalishasbeen producing location-specific reefswith a3Dprinter,” sherecalls. parameters andstudywaysof the scientifically andecologicallyimportant coral reefs.The nextstepwastogoback the‘drawingboard’andidentify essential pieceofthepuzzle for imitatingthecomplexandrandomshapesof reefsusingalarge3Dprinter.produce artificial “Ifeltthatthiswasan Enrico Dini,shewasinspired byhisideatousesandasrawmaterial abouttheItalianinventor reefs.Reading an article installation ofartificial large-scale Boskaliscoralrelocation projectinJamaicathatincludedthe made fromlocallydredgedmaterial.Atthetime,shehad just finisheda reefsbasedonasite-specific design, Her planwastomanufactureartificial to submitthewinningplanforBoskalisInnovationChallenge in2014. ecological processes,iswhattriggeredenvironmentalengineer AstridKramer contributing toreefrestorationthroughapplicationofnew techniquesand The ideaofexecutingcoastalconstructionprojects,while at thesametime CREATING NEWREEFS

Jamie Lescinski(l)andAstridKramer.

Lescinski explainsaboutthechallengingprocessoffinding the allpossiblereefenvironmentconditions,” to copewithvirtually and Eindhoven,wemanagedtodevelopabinderthatisexpected aswellspecialistsfromtheuniversitiesofDelft printing experts, composition forthereefs.“Inconsultationwithmaterialand3D Scheffer ofBoskalisR&Dledtheteaminfindingrightmaterial Working withanumberofcolleaguesfromacrossBoskalis,Niels FINDING THERIGHTRECIPE management,” sayspilotprojectmanagerJamieLescinski. they areoneofthefrontrunnersinareamarine change, coastaldevelopment,tourismandseawaterpollution,but Monaco’s marinelifeisstrugglingwiththeimpactofclimate “LikemanyEuropeancoastalresorts, reserve. project intheLarvotto thispilot Nature Protection(AMPN),Boskalisdecidedtosupport IIFoundationandtheMonacoAssociationfor of thePrinceAlbert reefpilotprojectinMonaco.Afterameetingwithmembers artificial outan tocarry By chance,Kramerwaspresentedtheopportunity PILOT PROJECTINMONACO involved inthedesign andproduction processesand wasalso to dateproduced formarineinstallation.Boskalis wasclosely 2.5 tonswhen dry. These arethelargest3Dprintedreefs modules approximately 2metersindiameter and1meterhigh,weighing Each Monacoreefmoduletakes 13hourstoprintandis PRECISION WORK–INSTALLING THEREEFS 3D printerwasinstalledinPapendrecht,”Krameradds. application oftheBuildingwithNaturedesignapproach. A huge using concreteorsteel),habitatrestoration,coralrelocation andthe reefs(typicallymade experience inthedeploymentofartificial reefsusing theirprintingtechnology.print artificial Boskalishas “Next, wesetupacollaborationwithD-Shapetofigure out howto right recipe.

“I FELT THAT THISWAS ANESSENTIAL time,” Krameraddsabouttheproject’s potentialpositiveimpact. improvement oflocalmarinelifewherepossible:onereef at a tocontributethe it atleastprovidesBoskaliswithexpertise approach won’t solvetheglobalproblemofcoraldegradation,but that wecanapplythisconceptinotherlocationsworldwide.Our “Of course,wehopethattheresultswillmatchourexpectations,so success.” and usethereefs,wereallywillbeabletocallprojecta the fishandcrustaceans.Ifseventargeted,localspeciesreturn Wenatural reefsinthereserve. willbelookingatthebehaviorof and development ofthereefsandcompareitwithotherartificial “A dedicatedteamofscientistswillmonitortheecological measurements andmonitoringtobeconductedcorrectly.” placed withextremeprecision,toenablethescientific installation coordinates.Itwasessentialthatthemoduleswere the todetermine installation, thelocationwasinspectedbyexperts coast ofMonacointhefall2017.Lescinskiexplains:“Priorto andinstallationofthereefsoff responsible forthetransportation THE COMPLEXANDRANDOMSHAPES OF CORALREEFS” PIECE OFTHEPUZZLEFORIMITATING 33 CSR 2017 – BOSKALIS 34 CSR 2017 – BOSKALIS Impact on the environment ‚ sustainability bywayof: consumption standards.Wherepossible,weincreaseequipment Our newequipmentcomplieswiththemoststringentenergy SUSTAINABLE FLEETMANAGEMENT willbedismantled,laid-uporsold. service overtheperiod2016-2018.Thevesselstakenoutof of service July 2016,10dredgingand14offshorevesselswillbe taken out Turkey. Basedonthefleetrationalizationprogramannouncedin vesselweredismantledin sheerleg craneandaheavytransport vessel,afloating anoffshoresupport equipment. Furthermore, were soldin2017,aswellvarioussmallerpiecesoffloating shipyardsintheNetherlands. certified Two vesselsof500GT+ In 2017,twodredgingvesselsof500GT+weredismantledat Convention. andcomplywiththeHongKong vessel onahardsurface the eventoffuturedismantling,newownermustdismantle ofthesalescontract.Thecontractalsostipulatesthat,in part ofHazardousMaterials(IHM)as sale, wedrawupanInventory stricter standards.Forolder, 500GT+vesselsthatareofferedfor accordance withtheHongKongConventionandBoskalis’own Vessels shipyardsin of500GT+aredismantledatcertified DISMANTLING IN2017 leaderinthisfieldbytheNGOShipbreakingPlatform. as industry shared withthelocalyards.We havebeenrepeatedlyrecognized requirements. Duringtheshipdismantlingprocess,knowledgeis business processesinsuchawaythattheymeetBoskalis’stringent toadapt close consultationwiththeNGOShipbreakingPlatform Europe. Whererelevant,agreementsaremadewithlocalyardsin shipdismantlingyardin distance, forexampletoacertified itoveralong environmental andothercostsoftransporting dismantling locallyareassessedandweighedagainstthe disposal ofwaste.Foreachvessel,thepossibilitiesforresponsible onwhichtodismantlethevesselandresponsible a hardsurface dismantling policyincludeadditionalstrictersafetyrequirements, legislation andregulationsinthisarea.Prerequisitesour the vesselsitdecommissionsandisaheadofexistinginternational Boskalis iscommittedtothesafeandsustainabledismantlingof SHIP DISMANTLINGPOLICY ACTIVITIES FLEET RELATED ‚ ‚ ‚ ‚ ‚ and lighting,asefficientpossible. board ourvessels,suchascooling, ventilation,air-conditioning Energy-saving measures–Bymakingtheinstallationswe useon impacts. regarding efficientenergyconsumption andenvironmental board allourvessels,thisplan stimulatescrewawareness The ShipEnergyEfficiencyManagement Plan–Applicableon we once againorganized MarineEnvironmental Awareness Raising environmental awarenessamongour crew–In2017, BALLAST WATER ‚ ‚ ‚ ‚ ‚ equipment, fitting toitsoperationalprofile andcharacteristics. vessels. Eachtype ofvesselwillrequireits own, specifictreatment ofrequirementsforeach our drew upanexhaustiveinventory prior torelease.Thisyear, inviewofthediversityourfleet, we standard requiresallorganisms inballastwatertobedestroyed the BWMD2standard,aswell asbeingeconomicallyviable.This At thispointintime,itisnot yet clearwhichtechnologywillmeet Organization (IMO)andcameintoforceasper8September 2017. Marine This conventionwasadoptedbytheInternational the BallastWater and SedimentsConvention(BWMConvention). now complywiththeBWMD1standard(mid-oceanexchange) of Management Planacrossourfleet.Asaresult,allBoskalis vessels ballast water. In2017,weimplemented aBallastWater complying toregulationsregardingthereleaseandtreatment of wellbeing oftheplanet.Boskalisaimstobeanearlyfollower in recognized asagreatthreattotheecologicalandeconomic The spreadofinvasivespeciesthroughballastwaterisnow ‚ ‚ ‚ ‚ ‚ antifouling systems. Prevention oftheuseorganotincompoundsinships’ sewage. Preventative measuresagainstthepollutionbyshipgenerated Preventative measuresagainstoilspills. dredging process. hopper dredgers,stronglyreducingturbidityduringthe ‘Plumigator’ hasbeeninstalledononeofourtrailingsuction prevent anyecologicalimpact.Also,anewinnovative oftheworkaccordingly andindoingsolimitor performance dredging project,atanygiventime.Thisway, wecanadaptthe system thatenablesustoanalyzeturbiditycausedbya suction hopperdredgers.Boskalishasdevelopedamonitoring Mitigation ofturbidity–Greenvalvesareusedonourtrailing waste managementplan. discharged overboard.Allourvesselsover400GThavea the IMOMARPOLregulations,whichprohibitwastebeing Separate collectionandprocessingofwaste–We complywith participated. courses wereorganized,inwhichmorethan100colleagues compliance withpollutionpreventionmeasures.Fourtwo-day contribute toenvironmentallysoundshippingandensure officers onboardvesselsandproject/officepersonnelto pollution andisintendedtoeducate,encourageempower focuses onthecontributionofhumanelementinpreventing principles andenvironmentalchallenges.Thecoursespecifically behind thelegislation,technicalrequirements,ecological knowledge onrelevantenvironmentallegislation,therationale Marine EducationFoundation.Thecourseprovidesbasic courses forourfleetpersonnelincollaborationwiththeProSea and theDutchVereniging vanWaterbouwers branchorganization. also collaborateswiththeEuropeanDredgingAssociation(EuDA) develop andshareknowledgeonthissubject.Thisworkgroup Within Boskalis,thereisaBallastWater Work Groupthataimsto Standard. Forthefirst,weareawaitingfinalClassapproval. as welltheIMOBallastWater ManagementConventionD-2 Medway. Forthelatter, thegoalisUSCoastguardtypeapproval, in-line combinedsystemonourtrailersuctionhopperdredger fleetandanin-tank/ treatment systemforourheavytransport treatment systems.Thisyear, pilotswereconductedwithanin-tank We thedevelopmentandfacilitatetestingofnew support to heavyliftvessel: Bokalift1. vesselconverted Heavy transport The portal hasbeenlinkedtotheBoskalisWayThe portal ofWorking. contribution toamoresustainablewayofworking. It notonlyrepresentsconsiderablecostsavings,butisasignificant –weresourcedthroughtheportal. have beenprocuredexternally would smaller equipmentandconsumables–whichotherwise been provenwithprojectssuchasMakassarandDuqmwhere hasalready itemofequipment.Thevaluetheportal particular enables allBoskaliscolleaguestocheckwhetherwehavea Thisportal creation andlaunchoftheBoskalisEquipmentPortal. systems. In2017,aninitiativeofBoskalisemployeesledtothe now haveseveralstoragelocations,eachwithitsownregistration equipment hasbeenaddedtoourorganization.Worldwide, we Dockwise, Stemat,VBMSandSTRABAGWasserbau, much asaresultoftheacquisitionSMIT,In recentyears,inpart USE OFEQUIPMENT EQUIPMENT PORTAL –EFFICIENTANDSUSTAINABLE 35 CSR 2017 – BOSKALIS 36 CSR 2017 – BOSKALIS Impact on the environment ADAPTATION CLIMATE CHANGE ‚ projects. In 2017,weexecutedalargenumberoffloodprotectionrelated FLOOD PROTECTION Read moreaboutBuildingwithNatureonpage31. sediment –therebyofferingnaturalbarrierstorisingsealevels. adaptive –sandtowaveimpactsandmangrovescapture including sandandmangroves.Importantly, naturalmaterialsare concrete, basaltandrockwithnatural,renewablematerials principles ofthecirculareconomybysubstitutingmaterialssuchas infrastructures. Inaddition,BuildingwithNatureappliesthebasic and ecosystemstobuildsustainableadaptablehydraulic several projects,thisapproachenablesustousenaturalresources adaptive andflexiblesolutions.Alreadyusedintherealizationof Our BuildingwithNatureapproachfacilitatesthedesignofthese be adaptedasrequiredinanswertoachangingnaturalworld. and lookingintoinfrastructuralsolutionsthatareflexiblecan change are,asyet,hardtopredict,Boskalishasbeenresearching drainage. Inviewofthefactthatpotentialimpactsfromclimate channels andcreatefloodplainstocontainthewaterorfacilitate defenses andbeachreplenishments.We widenriversand Boskalis isspecializedindesigning,realizingandmaintainingsea the impactofclimatechange. provide innovative,adaptiveandmitigatingsolutionstocombat coastal defenseandriverbankprotectionactivities–enablesitto rated throughouttheworld.Boskalis’corebusiness–including the fieldofdeltatechnologyandhydraulicengineering,arehighly andskillsin ravages ofthesea,andthusacquiredexpertise context, thecenturies’experienceofDutchtofendoff topicsforsocietyandoursector.are increasinglyimportant Inthis Climate changeanditsconsequences,suchasrisingsealevels, ‚ ‚ ‚ located betweenEnkhuizenandLelystad. on thereinforcementof26-kilometerlongHoutribdike dikeandworkcommenced of the33-kilometerlongMarkermeer Room fortheRiverprojects,continuedworkonreinforcement Delfzijl overadistanceoftwelvekilometers,execution various widening theWadden SeadikebetweenEemshavenand of Texel kilometers,raisingand over adistanceoffourteen including: reinforcementoftheWadden Seadikeontheisland In theNetherlands,numerousprojectswerecarriedout, 2016, page40). restoration projectinCentralJava,Indonesia(seeCSRreport Outside oftheNetherlands,wewereactivewithmangrove 37 CSR 2017 – BOSKALIS 38 CSR 2017 – BOSKALIS Impact on the environment THE MARKERWADDEN ISLANDS BUILDING WITHNATURE – them the nesting grounds for many bird species. them thenestinggroundsfor many birdspecies. banks andshallowshavedisappearedwith around theMarkermeer. Inaddition, natural decline inthefishandbirdpopulations levels ofturbidityhaveresultedinadramatic blanket thatstiflessoillife.Theresultinghigh on thebottomofMarkermeer, asilt forming wind-driven currentstotheIJsselmeer, settled had previouslybeencarriedawaybythe environment ofthelake.Finesediment,that had asubstantialimpactontheunderwater IJsselmeer. Sincethen,theHoutribdikehas Markermeer as sibling tothe lakewasformed of EnkhuizenandLelystadin1976, Houtrib dikebetweentheDutchlakesidecities With thecompletionof26-kilometer-long able to flourish. to createnatural islandsonwhichmarine,animal andplantlifewouldbe based ontheBuilding withNatureapproach: usingthesoftclayfrom lake collaboration withtheclient, Boskalis foundthesolutioninaninnovativeidea the softcohesiveclaytakenfrom thebottomofMarkermeer. Inclose wholly onthisapproach.The mainchallengeinthisprojectwasbuildingwith of naturerestorationandhydraulic engineering,tobecarriedoutbased executed byBoskalis,theMarker Wadden project isthefirst,bothinfield Although anumberofBuildingwithNatureprojectshave already been used byBoskalis. Nature foundasustainablesolutionintheBuildingwith approachas of lakearea,theDutchSocietyforPreservation beauty oftheMarkermeer Looking torestoretheecologicalbalance,whilstmaintaining thenatural RESTORING THEECOLOGICALBALANCE

“FROM THEOUTSET, KNOWLEDGEWAS The firststageoftheproject is nearingcompletion.In2017thego-ahead us tousesimilartechniqueson otherprojects.” moreaboutthisapproach.Iamconvincedthat knowledgewillhelp learn possible tousefineclayasabuildingmaterial.Marker Wadden allowsusto “With creativethinkingandbylookingatreality differently, ithasbeen freshwater andsaltwaterenvironmentstheworldover. Postmaelaborates: Nature projects,enablesBoskalistobuildwithfinesediment inboth The know-howacquiredwithintheMarkerWadden andotherBuildingwith food sourceandnestingground.” to createthebestsustainablesolutions:islandsthatwould becomeanew project phases.Rightfromtheoutset,knowledgewasshared betweenparties havecollaboratedthroughout all used, andalsointhewaywhichparties becauseoftheinnovativetechnology project initskind,mostimportantly ofNature,adds:“MarkerWaddenPreservation outtobeaunique has turned MarkerWaddenRoel Posthoorn, ProjectDirectorfortheDutchSociety and marinelife.” of whatprovisionswereneededtocreateahealthyhabitatforplants,wildlife the client,wedevelopedaprojectapproach,thatwasbasedonquestion should be.Thequestionherewas:howsoftcanthedesignbe?Together with “As hydraulicengineers,wearealwaysthinkingabouthowstrongadesign design criteria.” people. Theinterestingthinghereisthatwearedealingwithentirelynovel theweightofbirds,not only: theareahastobestrongenoughsupport oftheislandsisforgoosesteps Thecentralpart start. priority fromthevery densely populatedregion,andlandscapeecologyhavebeengiventop ground-breaking inseveralrespects:anatureareawillbecreated Wadden isaBuildingwithNatureproject‘parexcellence’:“The Hendrik Postma,DirectorofBoskalisNederland,explainswhytheMarker CREATING INNOVATIVE, SUSTAINABLE SOLUTIONS nature will belefttotake itsowncourse andshape theislands. approximately 750 hectares.Afterfinalwork hasbeencompletedin2020, areaofthefourother islandswillbe 250 hectaresand thetotalsurface was givenforthebuildingof three moreislands.Thefirstislandmeasures THE BESTSUSTAINABLE SOLUTIONS” SHARED BETWEENPARTIES TOCREATE

39 CSR 2017 – BOSKALIS 40 CSR 2017 – BOSKALIS Impact on the environment transport vesselsintoa3,000-toncranevessel–theBokalift1 transport With theconversionofoneoursemi-submersibleheavy standards. industry European andinternational thatcomplywithstrict the developmentofoffshorewindfarms, solutionsfor cable-laying capabilities,enablesustoofferturnkey for increasinglycomplexprojects.Combiningthiswithour expanding ourrolebyprovidingabroaderrangeofservices As oneoftheleadingplayersinthismarket,weaimtokeep thereby contributingtolowestLCOE(LevelizedCostofElectricity). forourclients– balance-of-plant solutions–withfewerinterfaces availability ofrenewableenergy. Boskalisofferscost-effective activitiescontributetowardsgreater Our offshorewindfarm SUPPORTING RENEWABLE ENERGY greater availabilityofrenewableenergy. carbon-free technologies,andactivitiesthatcontributetowards transition. Boskalisencouragesinvestmentsinlow-carbonor on fossilfuels:thesearetheambitiousgoalsofenergy Building asocietythatdemandslessenergyandisdependent TRANSITION ENERGY ‚ In 2017welaid587kilometersofcables,including: up to70%. immediately.process canbestarted Thisminimizesdowntimeby that ifacablefails,arrangementsareinplaceandtherepair promotes criticalpreparationstobecarriedoutupfront,ensuring major lossesofproductionforclients.ThePreparetoRepairmodel also increasing.Suchrepairsaretimeconsumingandinvolve means thattheriskofdamagetointer-arraycablesis andexport offshore, which arealsobeingbuiltfurther offshore windfarms, launched CableIntegritySolutions.Thegrowingnumberof withHighVoltageIn partnership engineeringspecialistEDS,we installation workoffshore. outcost-effectiveandflexibleheavylift able tocarry now havetheindustry’s largestself-propelledcranevesselthatis ‚ ‚ ‚ about 27kilometersoffthecoastofSuffolk,UnitedKingdom. whichwillconsistof56windturbines,islocated wind farm, 56 inter-array The cablesfortheGalloperoffshorewind farm. Installation oftwo45-kilometer-longcablesand export installation vessel.The useofsuction bucketjacket foundations and cables andthe provisionofthewindturbine transportation andinstallationof66kV inter-arraytransportation and export foundations andscourprotection, theprocurement,supply, andinstallationofelevensuctionbucket jacket transportation Boskalis includesthedesign, procurement,fabrication,supply, with acapacityof92.4MW. Thescope oftheactivitiesfor Deployment Centre.Theproject consistsofelevenwindturbines Wind alsoknownastheEuropeanOffshoreWind Farm, contract byVattenfall, fortheconstructionofAberdeenOffshore Commencement ofworkontheOffshoreBalancePlant we Thames complex. projects includingLehmanBH,VikingBravo,Vulcan &Vikingand In 2017,Boskaliswasinvolvedinanumberofdecommissioning of suchplatforms. committed toensuringthesafeandsustainabledecommissioning ecology, Boskalishasaleadingedgeinthisgrowthmarketandis and inthefieldofengineering,logistics,surveys our expertise Seaalone.Basedon waiting tobedecommissionedontheNorth isacomplexchallenge.Therearehundredsofplatforms platforms The safeandenvironmentallyfriendlydecommissioningofoffshore DECOMMISSIONING ‚ ‚ in theIrishSea. cablerepairwascarriedout20kilometersoffshore, The export cables intheshallowwatersofouterThamesEstuary. 2.3 depthmadeithighlysuitableforrepairingtwointer-array waters. Thecable-layingbarge’s 8-pointmooringsystemand The repairoftwointer-arraycableinUK cablesandoneexport capacity 66kVpowercablesmakethisprojectunique. in conjunctionwiththelargewindturbinesanduseofhigh We measure,monitorandaimtoreducetheCO EMISSIONS CO offuel.Ourenergy usageand forms keen tolookforalternative thereby consuminglessfuelandcausingemissions.We are buildings. Boskaliscancreatevaluebyoperatingmoreefficiently, company, bymanagingtheemissionsfromfleet,equipmentand roadmap forCO Maritime Organization(IMO)hasindicatedthataproposaland worldwide.TheInternational shippingindustry international it isnotclearwhattherequirementsandgoalswillbefor in 2018.Attheendof2016,EnvironmentCommittee committed toreduceCO oftheParisClimateAccord,mostcountrieshave As part EMISSIONS LEGISLATION the organization. knowledge andbestpractices,promotesawarenesswithin from thekeydivisions.TheTaskforce hasasteeringrole,pools Management, theTaskforce includesspecialistsandprofessionals regulations onemissions.ChairedbyamemberoftheBoard legislationand developments innationalandinternational Our Taskforce EnergyManagementkeepsacloseeyeon TASKFORCE ENERGYMANAGEMENT sustainable solutions. arisingfromclientdemandforlow-emission, – theopportunities Europe from stricterregulationsand–especiallyinNorthwestern Ndurance andStemat Spirit. Cable-laying vessels Ndeavor, 2 emissionslevelarealsorelevantbecauseoftherisksresulting 2 reductionfromshippingwillbemadeavailable 2 emissionsdrasticallyby2050.Asyet, 2 emissionsofour existing infrastructurecanbeusedforbiofuels,theintroductionof Moreover, itispossibletomixthemwithfossilfuels.Becausethe andease-of-useinconventionaldieselmotors. transportation, advantages forshipping:highenergydensity, easystorageand Sustainable biofuels,ontheotherhand,haveanumberofmajor solution tomeetsustainabilitygoalsforworkingvessels. consider LNGasofferingalarge-scale,economicallyviable major impactsonshipdesignandhighercosts–wedonotyet of numerousdrawbacks–includinginsufficientbunkercapacity, ventures withKeppelSmitTowage andMajuMaritime.Because Singapore, BoskalisusestwoLNGdual-fuelharbortugsinjoint of viable, wewillconsiderusingLNG-fueledvessels.InthePort application ofLNGforfleet.Wherepossibleandeconomically We continuetofollowtechnologicaladvancementsinthe LNG ANDSUSTAINABLE MARINEBIOFUELS reduction objective. are makinggoodprogressandhavesetourselvesanambitious innovate andcutbackCO With alargeglobalfleet,Boskalisisconstantlylookingto allowances forCO intheETSsystem,wherebyemission obliged toparticipate back CO 2023, unlesstheIMOsucceedsinimplementingmeasurestocut should beincludedintheEUEmissionsTrading System(ETS)asof thatemissionsfromvessels European Parliamentdetermined 2 emissionsby2021atthelatest.Ifnot,shippingwillbe 2 havetobepurchased. 2 emissions.FortheDutchmarket,we 41 CSR 2017 – BOSKALIS 42 CSR 2017 – BOSKALIS Impact on the environment use onboardourvessels,suchascooling,ventilation, means ofenergy-savingmeasures:bymakingtheinstallationswe Where possiblealso,wemakeourfleetmoresustainableby sustainable, beitmoreexpensive,option. In thisway, weactivelyencourageclientstochooseforthis MGO biofuelthefuelofchoiceinitstendersDutchmarket. It isforthisreason,thatBoskalishas–wherepossiblemade willingness ofourclientstoinvestinlow-emissionalternatives. success ofoursustainablesolutionsdependslargelyonthe However, aslongregulationsandlegislationarelacking,the biofuels, willenableustocreateeconomicallyviablesolutions. retrofitting. Inaddition,thepossibilitytouselower-cost blend currently achievewithoutrequiringcostlyfleetrenewalor reduce emissionsinourfleet,toanextentthatnootherfuelcan In viewofthepositiveresultswithmarinebiofuels,theirusecould most stringentsustainabilitystandards,werepositivelyassessed. 2017, usingMarineGasOil(MGO)typebiofuelsthatmeetthe collaboration withGoodFuels.Thepilots,heldbetween2015and biofuels, thankstothepilotscarriedoutincross-sectoral Boskalis iscurrentlyfrontrunnerintheareaofsustainablemarine willcomefrombiologicalsources. forms all transportation Energy Agencypredictsthatin2050about27%ofthefuelsfor tofossilfuels.TheInternational viable, sustainablealternative in largevolumesatalowerprice,biofuelswillofferaneconomically out.Astheybecomeavailable such fuelsisrelativelyeasytocarry the CO on In 2017,weonceagainreceivedthehighest-levelcertification AMBITIOUS CO Oranje in2015. fossil blendfuelintrailingsuction hopperdredgerWillem van expectations. Anothersuccessful pilotwastheuseofbio/ reduce itsCO In itsactivitiesontheDutchmarket,Boskalishasambitionto is askedinmanytenderevaluationprocedures. materials andrenewableenergy. Laddercertification Performance intheareasofenergy saving,efficientuseof performance agencies andbusinessestorecognize Dutch government pulp andpapercompany. CO was madeoutoflignocellulosic wastestreamsfromaFinnish used wasabiofuel/fossilfuel blendofupto50%.Thebiofuel operations attheMarkerWadden projectin2016.Thebiofuel bio/fossil blendfuelforitscuttersuctiondredgerEdaxduring successes ofpilotprojects.Boskalisusedadrop-inmarine The useofbiofuelhasbeenmadepossible,basedonthe biofuels inourequipment. developments, raisingemployeeawarenessandtheuse of through improvingenergyefficiencybasedontechnical projects by2022,comparedto2017.Thiswillbeachieved Netherlands. TheCO 2 Performance LadderforallBoskalisbusinessunitsinthe Performance 2 footprintforitsownequipmentby35%onlocal 2 REDUCTIONPLAN 2 Performance Ladderisatoolusedby Performance 2 reductionswereinlinewith

We reduceourCO aimtofurther ENERGY-EFFICIENT OFFICES our crews. to promoteawarenessofefficientenergyconsumptionamongst Energy EfficiencyManagementPlanonboardourvessels,serves air-conditioning andlightingmoreefficient.Inaddition,ourShip – withzeroCO Since 2016,weuseelectricitygeneratedfromDutchwindenergy goal ofenergy-neutraloffices. The implementationoftheEMSisasignificantsteptowards CO of thisenvironmentallyfriendlyfuel.To achievetheambitious scalability. thiswillstimulateevenmorewidespreaduse Inturn, Europe. Inthisway, biofuel pricesarelikelytodropasaresultof adoption ofbiofuelonotherBoskalisprojectsinNorthwestern focused onenergyconsumptionandcuttingbackCO for ourDutchofficesandwarehousescontinuestokeepus The EnergyManagementSystem(EMS)wasimplementedin2016 warehouses intheNetherlands. reduction peryearmustbeachievedforallourofficesand 2050. Inordertoachievethistarget,aminimal2%energy aims tohaveenergy-neutralofficesandwarehousesinEuropeby In linewiththetargetsofEUEnergyEfficiencyDirective,Boskalis management systemsofourDutchofficesandwarehouses. continue totakemeasuresstructureandoptimizetheenergy workspaces forouremployees.To achievethesegoals,we efficient officesandwarehouses. Wealsowanttoensurehealthy discussing waysofsavingfuel whileonthejob. recording andmonitoringequipment fuelconsumptionlevelsand change inbehavioramongst ouroperators.Thisisdoneby 2016, the‘KeepFuelinMind’ initiativeaimsatbringingabouta awareness amongstemployeesandstakeholders.Launched in efficiency ofourprocessesandincreasingenergyconsumption The CO Further CO Further expect thatsignificantcutsinCO Based onourextensiveknowledgeacquiredfromthepilots,we Rotterdam. Tankoperations attheHartel Terminal of projectinthePort used byourtrailingsuctionhopperdredgerCauseway, during fossil fuelblendmadeoutofusedcookingoil.Thiswas byGoodFuelsin2018wasa30%biofuel/ commercial delivery GoodFuels forthepurchaseofdrop-inqualitybiofuel.Thefirst Early 2018,Boskalissignedafive-yearcontractofintentwith 2 reduction,commitmentfromclientsisessential. 2 Performance Ladder(level5)andtheBREEAM Performance 2 reduction canbeachievedthroughimprovingthe 2 emissions–forallourofficesintheNetherlands. 2 2 emissionswillalsostimulate footprintthroughenergy- 2 emissions. Boskalis measures and reports onthefleet’sBoskalis measuresandreports totalCO amounted to1.22milliontonsofCO based onfuelconsumption.In2017totalemissionsofthegroup CO Energy Management. to therelevantauthoritiesandBoskalisTaskforcereported EMS remainsanongoingprogress,theresultsofwhichare usinreachingourtargetofreducingenergyuse. support oftheEMS.Thesesystemsfurther anintegralpart in 2016form thatwasachievedin2015andsuccessfullyupgraded certification * CO DREDGING &INLANDINFRA by the Helios, taken into service inthesecondhalfof2017. by theHelios,takenintoservice increased to14weeks(2016:9weeks)andisprimarilycaused dredgers inparticular. Utilizationofthecuttersuction dredgers in higherutilizationlevelsforthelargetrailingsuctionhopper mainly causedbytheincreaseofDredgingactivitiesresulting hopper dredgersincreasedto35weeks(2016:27weeks).Thisis result ofthefollowingfactors:utilizationtrailingsuction dredgers andcuttersuctiondredgers.The25%increaseisthe which wasattributabletothetraditionaltrailingsuctionhopper 551,000 tons(2016:440,000tons),approximately95%of CO Total CO Offices Towage &Salvage Offshore Energy Dredging &InlandInfra

For the method used to convert fuel toCO For themethod usedtoconvert Fleet (%) 2 2 2 2 (MetricTons‘000) MT(‘000) emissionsatDredging&InlandInfraamountedto EMISSIONSIN2017 1,223 MT 99.7 0.3 MT (‘000) FUEL HFO 2 , seepage 69ofthisreport.

2 772 (2016:1.25milliontons). Offices (%) 248 134 114 FUEL MGO MT (‘000) 2 emissions FLEET 448 140 78 61 KWh (million) The CO OFFSHORE ENERGY consumption andtheassociatedemissions. developmentswithintheOffshorefleetimpactingfuel noteworthy early2018.Therewerenoother came backintoservice conversion intoaDP2cranevessel,Bokalift1.The1 of2017for inthefirstquarter Finesse wastakenoutofservice were laidupforthemajorityofyear. theHTV Furthermore, andtwotypeIIvessels 2017, twoHTVsweretakenoutofservice operational vesselsresultedinadeclineoftheHTVemissions.In (69% versus71%in2016),areductionthenumberof (2016: 63%).Despiteanearlyflatvesselutilizationratein2017 (HTV) fleetwhichaccountedfor56%ofthetotalemissions vessel in emissionsiswhollyaccountedforbytheheavytransport 2017 totalled669,000tons(2016:790,000tons).Thereduction ELECTRICITY 2 emissionsproducedbytheOffshoreEnergyfleetin 3 5 – Mj (million) OFFICES GAS 10 – – CO MT (‘000) 1,223 2 2017 669 551 3 - * CO MT (‘000) 2 1,249 2016 790 440 16 3 * 43 CSR 2017 – BOSKALIS 44 CSR 2017 – BOSKALIS Care for Human Capital CAPITAL CARE FORHUMAN 52 51 50 48 46 No InjuriesAccidents(NINA)isatoppriority. Ourhealthandsafety program personal andcareerdevelopmentopportunities. career. We workenvironmentandexcellent avariedand international offer inspiring workenvironment,aswellenhancingemployabilitythroughouta Boskalis aimstoattractandretaintalentedprofessionalsbyprovidingasafe ‚ RISKS &DILEMMAS ‚ KPIs ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ Finding qualified,skilledprofessionals Number ofwork-relatedsafetyincidents operations Safety playingacentralroleinour Employee training Staff turnover DIVERSITY SUSTAINABLE EMPLOYABILITY LABOR PRACTICES TALENT MANAGEMENTANDENGAGEMENT HEALTH ANDSAFETY ‚ OPPORTUNITIES &GOALS ‚ RESULTS ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ environment Offer aninspiringandchallengingwork LTIF: 0.06;TRIR0.55(page46) for ouremployeesandsubcontractors Provide asafeandhealthyenvironment Training hours:77,799 Percentage staff turnover (page50) Percentage staffturnover SDGs 45 CSR 2017 – BOSKALIS 46 CSR 2017 – BOSKALIS Care for Human Capital SAFETY HEALTH AND NINA training. inourinteractive best practiceandareenthusiastictoparticipate excellence. OurclientstooareincreasinglyembracingNINAas other: inopendialogueandcollaborationtoachieveoperational culture, ithasstimulatedthewayinwhichweworkwitheach ofour in 2017.NINAhasnotonlybecomeaninextricablepart decline Frequency hasshownamajorimprovement,withfurther Since theimplementationofNINAin2010,LostTime Injury driven mindset. about procedures,butmostlypromoteownershipandasafety- TheNINAvaluesandrulesarenotonly discussed andreported. responsibilities andpotentiallyhazardoussituationsareopenly their safetyandstimulatesaworkingenvironmentinwhichsafety, NINA makesemployeesawareoftheirownresponsibilitytowards and fiverulesofNINA ofworkingbehavior.safety afullyintegratedpart Thefivevalues embed thedesiredsafetycultureinourorganizationandmakes fromworksafelyeachday.employees return NINAaimsto safety programreflectsourobjectiveofensuringthat OurNoInjuriesAccidents(NINA) weundertake. in everything Safety isoneofourorganization’s corevaluesandatoppriority with regardtoexpectedbehaviorandoperationalriskmanagement. guidance toallemployees,includingthoseofsubcontractors,both ‚ ‚ ‚ ‚ ‚ ‚ NINA RULES NINA VALUES ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ Be fitforduty andwearthePersonalProtective Be informedaboutriskand control measures activities Make ajobhazardanalysis forhazardousnon-routine others andbuildonlessonslearned. allincidents,includingnearmisses,toinform I report Obtain apermittoworkfor definedhigh-riskactivities of rankandposition I acceptfeedbackaboutmysafetybehaviorregardless Equipment required vessel orlocation If necessary, Iwillstopthework I takeactionincaseofunsafeoperations I approach othersaboutworkingsafely Prepare ariskassessmentforeachproject, I amresponsibleformyownsafety have beenspecificallydevelopedtoprovide

appendix. includingOHSAS18001 canbefoundinthe certifications and projectauditswerealso conductedbyclients.Alistof auditswere carriedout.Office and92internal 47 external on ourprojects.Ondredging andoffshorevessels, safetyaudits and21internal In 2017,weconducted13external during operations. and othersuppliers.Inaddition,toolboxsessionswereorganized NINA trainingandinductionsessionswereheldforsubcontractors To ensurethat safetyisguaranteedonsuchprojects,special freelance contractorswhoeachhavetheirownapproach tosafety. Boskalis frequentlyworkswithsubcontractors,suppliersand were filledinand466nearmissesalsoreported. Cards organization. In2017,11,445SafetyHazardObservation oftheproactivesafetyculturewithin near misses,aspart We dangeroussituationsand encourageemployeestoreport improvement areshared. activities, experiences,trainingmaterialandsuggestionsfor environmentinwhich NINA plazawaslaunched:aportal and ourOffshoreWind businessunit.Inaddition,aBoskalis-wide The NINAprogramwassuccessfullyintroducedin2017atVBMS to 0.55in2017. incidents resultingininjury. TheTRIRdeclinedfrom 0.66 in2016 declineinthenumberof Rate) weexpecttoachieveafurther three categories(togetherknownasTRIR–Total RecordableInjury Byaimingforareductioninall improve oursafetyperformance. Medical Treatment CasesandRestrictedWork Cases tofurther on decreased to0.06(2016:0.08).Asfrom2015wealsoreport Frequency) resulting inabsencefromwork(LostTime Injury In 2017,thenumberofincidentsper200,000hoursworked SAFETY PERFORMANCEIN2017 routine andsubconsciousbehavior. increases safetyawareness,butisaimedatbreakingthrough tools includethemoduleSafeMind.Thisspecialnotonly Workbox these Mooring.Nexttogoodpracticesandstorytelling, practical trainingtoolssuchastheWorkbox Handsandthe awareness andpreventtheseincidentsfromhappening,wehave falling, slippingandtrippingincidents.To increaseemployee isheadedby The listofmostcommonincidentsinourindustry Cards(SHOCs). situations usingSafetyHazardObservation improve safety, dangerous NINAencouragesemployeestoreport fully awareofthepotentialriskstaskathand.Inorderto Safety andaccidentpreventionimprovessignificantlyifpeopleare the riskforouremployees,wehavealong-standingpolicyof mosquito-related diseasessuchasmalariaandZika.To mitigate In someoftheregionswhereweoperatethereisarisk for ouremployeesonprojects,vesselsandinoffices. It isourpolicytoensureandsafeguardhealthyworkingconditions PREVENTION OFOCCUPATIONAL ANDOTHERDISEASES INCIDENTS 2017 Falling/slipping/tripping Contact with(heat, dust,etc.) Caught between/in/on Struck by/against 8% 7% 17% 7% 9% 209 Other Overstress, overpressure Object ineye 21% 31% Travel ClinicinRotterdam,theNetherlands. andmedicalspecialistsfromthe SHE-Q andHRdepartments rapidly. ourCorporate Theteamcomprisesemployeesform have anEmergencyResponseTeam (ERT) tobeablerespond tailored preventionprograms.Intheeventofahealthcrisis,we providing vaccinationsandmedicalcheckupsinadditionto RWC =Restricted WorkCases LTI =LostTimeInjuries INCIDENT REPORTS2017 11,445 SAFETYHAZARDOBSER 466 NEARMISSES 162 MTC/F 38 R 9 L WC TI FAC =FirstAidCases MTC =MedicalTreatmentCases AC V A TIONS 47 CSR 2017 – BOSKALIS 48 CSR 2017 – BOSKALIS Care for Human Capital AND ENGAGEMENT TALENT MANAGEMENT programs in 2017. Blended learning combinestraditionalwith programs in2017.Blendedlearning Communication andPersonalEffectivenesswerelaunchedaspilot Two programsonEffective so-calledblendedlearning BLENDED LEARNING TRAINING ANDDEVELOPMENT landscapethatstimulatesinnovation. learning management levelsinBoskalis–iskeytocreatingastrong innovative ideasarestimulated.Theroleofleadership–atall andon-the-job-training,thesharingof which informal trainings,weaimtocreateaculturein providing mandatory innovative solutionsthatexcelthoseofourcompetitors.Nextto intheirfield:abletooffer talents sothattheyremaintheexperts andstimulatingemployees’ arefocusedonsupporting Our efforts development, andcompensationbenefits. management,trainingand areas ofrecruitment,performance our success.Talent managementencompassesallactivitiesinthe Talented, enterprisingandskilledemployeesremainthekeyto and skillsdevelopmentareparamount. 18 months,assignedtomultipleprojects.Knowledgesharing Trainees rotatebetweenthethreedivisionsoveraperiodof A groupof23traineesembarkedontheprogramthisyear. diversity ofourprojectsandtheversatilityrequiredroles. allaboutour businessactivities,discoveringthe trainees learn ofamentor,technical orfinancebackground.Undersupervision professionals withuptotwoyears’workexperience,a of ourcompany. We offeratraineeprogramforgraduatesand continue toattractyoung,high-potentialsisessentialforthefuture projects, weholdagreatattractionforyoungpeople.Ensuring companythatcarriesouthigh-profile As aleadinginternational TRAINEE PROGRAMFORYOUNGTALENT they arelocatedworldwide. toemployeeswherever opportunities we canoffernewlearning applications, totheworkfloorandusingsmart bringing learning positive.By situations. Theresultsofthepilotshavebeenvery goalsinwork continuously triggeredtoreflectontheirlearning are andon-the-jobtraining.Participants online learning

or semi-annualbasis. The aimistorevieweachemployee’s onanannual performance andinteractiveway.cycle isthereforeconductedinauniform management throughout theorganization.Theentireperformance Workday, managementisnowimplemented performance system talent managementmoduleofourHRinformation solutions.Withand translatingtheseintoinspiringlearning the employees iskeytofollowingeachemployee’s developmentneeds thepersonaldevelopmentofour Recording andsupporting PERFORMANCE MANAGEMENT sharing. development andonstimulatingcompany-wideknowledge improving hardandsoftleadershipskills,safety, professional Offshore Energy, andTowage & Salvagedivisionsworkedon of twentyprojectmanagersfromtheDredging&InlandInfra, Operational DevelopmentProgramkickedoffinMarch.Agroup stimulates openideasharing.Thenew, one-yearBoskalis anddevelopment ofemployees,creatingaculturethat learning development programs.Middlemanagementshouldprioritizethe corevaluesinourmanagement entrepreneurship areimportant network andencouraginginnovation building aninternal attention withinourorganization.Developingpersonalleadership, Leadership andpersonaldevelopmentareongoingpointsof MANAGEMENT DEVELOPMENTPROGRAMS independently andsafelyon-siteatprojectsworldwide. work scope,andpreparingthemtobeableoperate tothediversityofBoskalisprojectsand introducing participants professionals.Theprogramisgearedtowards by tenyoungsurvey GraduateProgramwasattended A four-week BoskalisSurveyor withworkingpracticesinvariousBoskalisdivisions. learning CostEngineeringCouncil.Thecoursecombines International Dutch AssociationofCostEngineers,andapprovedbythe Engineer ProgramdevelopedbyBoskalisincollaborationwiththe engineering, embarkedonaone-and-half-yearpost-bachelorCost group ofsevenyoungprofessionals,withabackgroundincost five years’workexperiencefromoutsideBoskalis.In2017,a management. We alsotakeonyoungprofessionalswithupto areas ofplanning,calculation,riskmanagementandcontract professionals, weoffercompetencydevelopmentprogramsinthe In ordertodeveloptheskillsandknowledgeofouryoung YOUNG PROFESSIONALPROGRAMS Council renderedapositive advice orconsent. of recentlyacquiredcompanies. Forallsubjects,theDutchWorks ofworking conditions Papendrecht officesandthe harmonization discussed includedtherationalization planfortheBoskalis Council wasonceagainopen andconstructivein2017.Topics for 54%ofourworkforce.ThedialoguewiththeDutchWorks where wearebased.OuroperationsintheNetherlands account our employees,inaccordancewiththelawsofcountries employee representationbodiesregardingsubjectsrelevant to Boskalis engagesincloseandstructuralconsultationwith the the commercialawarenesstrainingin2018. competencies inthisarea.Itisplannedtohave80people follow divisions launchedaCommercialAwareness programtoimprove In addition,boththeDredgingaswellOffshoreEnergy attending. 2017, withatotalof30peoplefromthroughoutBoskalis innovation drivenmarketplace.Thecoursewasgiventwicein challenges facedbythemintheincreasinglycompetitiveand arecoachedtoovercome frontline.Theparticipants the very is focusedonourproject-drivenbusinessforpeopleoperatingat developed incollaborationwithTSMBusinessSchool.Thiscourse market, afour-day ContractualAwareness coursehasbeen In ordertoremainsuccessfulinanincreasinglycompetitive the rightcompetencieswhenandwhereweneedthem. skills, therebyallowingustoincreaseourcapacityanddeploy todevelopwider The programgivesemployeestheopportunity superintendent, siteengineer, planneranddocumentcontroller. poolforvital project positions,suchas international The Dredgingdivisioninitiatedtheestablishmentofan Boskalis andboostourinnovativepower. Conversely, suchmobilitywillstimulateknowledgesharingwithin career perspectives,therebyenhancingtheiremployability. personal andknowledgedevelopmentimproveemployee between staffandprojectorganizations,weaimtostimulate operationspool.Bywayofincreasedmobility of theinternational have beeninitiatedtooptimizethequality, quantityanddiversity set. Inordertobereadyforthefuture,anumberofprocesses projects. Thisrequiresemployeestohaveanevenbroaderskills Clients demandflawlessexecutionofevermorecomplex engagementisparamount. valued asimportant, specialists andwhereaproperwork/lifebalanceisincreasingly labor marketwhereitisbecomingmoredifficulttoattractcertain An engagedworkforceiskeytoachievingourambitions.Ina EMPLOYEE ENGAGEMENTANDENHANCEDEMPLOYABILITY 49 CSR 2017 – BOSKALIS 50 CSR 2017 – BOSKALIS Care for Human Capital LABOR PRACTICES Boskalis isentering.They willallow ustoestablish which isneedednow andinthefuturenew marketsthat expertise These Talent Labsareexpected toprovideusinsights into what finalized toestablishso-called Talent Labs inthefirsthalfof2018. contracting, additionalcompetencies arerequired.Planswere vessel and2high-endDSVs – andexpansionintosubsea addition ofnewtypesvessels –suchastheBokalift1crane To alignourcurrentworkforcewith ambitions,includingthe Europe. oftheeconomyinNorthwest to thegeneralrecovery On theotherhand,labormarkethasnoticeablytightened due restructuring (2017),wehavereducedouroverallheadcount. fleet rationalizationprogram(2016)andtheheadoffice business environmentinourendmarkets.Asaconsequence ofthe have beenadaptingtheorganizationinlinewithchallenging challenging overthelasttwelvemonths.Ononehand, we Retaining andattractingtalentedprofessionalshasbecome organization inanticipationofselectivegrowth. focusing onengagingwithourworkforceandstrengtheningthe and The secondhalfoftheyearwasspentmovingforward redundancies waslimitedto 130. andretirement,thetotalnumberof turnover voluntary Papendrecht headoffice.However, mobility, asaresultofinternal by mid-2017.Theinitialplanassumedalossof230FTEsatthe bycreatingclarityastowhichpositionswereaffected uncertainty the interestofallemployees,wemanagedtolimitperiod Dutch Works Council,areorganizationplanwasdrawnup.In Following acarefulprocessandincloseconsultationwiththe a morecost-effectiveorganization. office costbasewasreviewedin2017.Thefocusoncreating rationalization programthatwasimplementedin2016,thehead In thewakeofdeterioratedmarketconditionsandfleet READY FORTHEFUTURE ADAPTING TOTHENEWREALITY– representation bodies. agreements, reachedinconsultationwiththeemployee staff. Corporateandoperationalstaffiscoveredbyseparate Labor Agreement.Theyincludemostofourcrewsandproject be foundonpage69).Ofthese,33%arecoveredbyaCollective scopecan 2017, thiswasatotalof5,772employees(reporting We onemployeesemployedbymajorityownedentities.In report Companies inthisrespect. UN GlobalCompactandtheOECDGuidelinesforMultinational LaborOrganization,the endorse theguidelinesofInternational freedom ofassociationandtherighttocollectivebargaining.We Boskalis offersdecentworkingconditionsandiscommittedto coming toanend. left, and954jobswerediscontinuedduetoprojectsorcontracts to thereorganization.Inrelationdivestments106employees andretirement,ofwhich146were related termination (voluntary) whereas 1,847employeesleftBoskalis.Ofthese,787dueto In 2017,wewelcomed1,464newemployees(2016:1,903), on projectcompletion. contract.Inmostcasessuchcontractsarediscontinued temporary employees arehiredlocallywherepossibleorappointedona from aflexibleshell.Dependingontheprojectrequirementsthese For projects,wesupplementourcorestaffwithemployeesdrawn intheNetherlandswas7.9%. reorganization, theemployeeturnover (voluntary) resignationrate.Adjustedfortheheadoffice (voluntary) in 2017ismainlycausedbyahigher The increaseinturnover the Dutchorganizationwasslightlylowerat12.5%(2016:7.8%). contract,was16.9% (2016:12.3%).Turnoverpermanent within tenure withthecompany. underemployeeswitha Staffturnover appointment (2016:76%)andofthiscorestaffmanyhavealong The majorityofouremployees(77%)areonapermanent CONTRACT TYPEANDSTAFF TURNOVER ‘Defined benefitpensionschemes’. in canbefoundinour2017AnnualReport, Detailed information The BoskalispensionplanismanagedbythePGBfund. PENSION SCHEMES management therewhereitismostneeded. implemented in2018andwillenableustofocusourtalent ready forthefuture.Thisstrategicworkforceplanningwillbe development andworkingconditions–tomakesureBoskalisis workforce planning–translatedrecruitmentpolicy, talent acquired throughtheTalent Labs,wewillbesettingupastrategic be requiredinordertofulfillourambitions.Basedontheinsights competencies wealreadyhaveinhouseandwhichnewoneswill operational staff,Boskalisintroduceda3:2(sixweekson/four thereof, andinordertoimprovethework/lifebalanceofour employment willincreasinglybecomeachallenge.Inanticipation employees withphysicallydemandingjobs,sustainable schemes andsustainableemployment.Especiallyamongst to 68years.Thiswillinevitablyhaveconsequencesforpension In 2018,thepensionableageinNetherlandswillberaised phase oflife. Netherlands foranumberofyears,ifthatismorefittingintheir For example,byenablingDutchstafftoworkonprojectsinthe accommodate thevariouslifestagesasmuchpossible. demanding job.We to areopentothisapproachandtry would liketoretrain,forexampleadifferent,lessphysically reviews.Employeescansaywhetherthey item inperformance and developmentprograms.Shapingone’s owncareerisafixed We enabletalentandskillsdevelopmentthroughourtraining to theirretirement. at waystokeepemployeeshealthy, safeandmotivatedthrough employees byenablingtalentandskillsdevelopmentlooking thecontinuedemployabilityofour At Boskalisweaimtosupport EMPLOYABILITY SUSTAINABLE

employees. intention toofferthishealthscanallBoskalisNederland improve theirscorewiththehelpofalifestylecoach.Itis to sustainable employabilityandweregiventheopportunity undergo ahealthchecktomeasuretheirhealth,lifestyleand was launchedin2017.Two hundredemployeeswereinvitedto At BoskalisNederland,theSamenFIT(FITTogether) program on effectivenessandmindfulnessatwork. physical fitness,attentionisalsogiventomentalhealthinacourse put theseintopractice.Becauselifestyleinvolvesmorethanjust employees withtipsforahealthylifestyleandstimulatesthemto including themoduleFitforDuty, whichaimstoprovide Next tothis,weoffervarioustrainingprogramsourfleetstaff, that aimstoencourageemployeesworkontheirownhealth. healthy, safeandmotivated.In2017,aprogramwasintroduced explorehowtokeepemployees Dutch tradeunionstofurther We continuetocollaboratewiththeDutchWorks Councilandthe schedule. replacing theprevious2:1(eightweekson/fouroff) projectsin2017, weeks off)rotationscheduleoninternational 51 CSR 2017 – BOSKALIS 52 CSR 2017 – BOSKALIS Care for Human Capital DIVERSITY Netherlands. staffworkattheheadofficein managers andsupport themost activities andtheequipmentdeployed.Proportionately consistent withtheprofileofcompanyandnature staffis70%-30%.Thisratio management andofficesupport The ratioofoperationalstaff(fleet,yardsandprojects)to workers. option forwomenandalessobviouschoicepart-time locations. Deploymenttoprojectshasprovenbealessattractive maritime staffallovertheworldforlongerperiods,ofteninremote organization thatsendsouttrainedtechnical,financialand with thenatureofourwork.We aretoalargeextentproject staffatBoskalisisconsistent women andoffull-timetopart-time workers in2017was11%(2016:7%).Theratioofmento head office,identicalto2016.Thepercentageofpart-time 75%-25% formanagementandofficestaffworkingattheBoskalis structural nature.In2017,theratioofmentowomenwas is higherforactivitiesthatarefixed,office-basedandofa rateforwomen comparable to2016:90%-10%.Theparticipation staff.Theratioofmentowomenin2017was part-time We employarelativelylargenumberofmenandfew manageable outflowofstaffduetoretirement. junior, mediorandseniorlevels,aswellresultingina age distributionprovidesagoodlevelofstaffingforpositionsat 50, withoverhalf(61%)beinginthe30-50agecategory. This balanced ageprofile.Almost73%ofouremployeesareunder Boskalis’ employeesrepresent64differentnationalitieswitha The DiversityPolicyisavailableonwww.boskalis.com. whereby theprincipleofbestpersonforjobisleading. background, age,religion,gender, sexualorientationordisability, policy forallemployees,regardlessofrace,nationality, ethnic view ondiversity. Boskalisoperatesastrictequalopportunities requires aflexibleandinnovativeapproach,wetakebroad projectenvironmentsuchasours,which In aninternational 1000 2000 3000 4000 5000 6000 0

IN- ANDOUTFLOW Crew/yard staff(46%) Project staff(24%) Office staff(27%) Management (3%) JOB CATEGORIESMALE/FEMALEIN2017(IN%) JOB CATEGORIES RATIO EMPLOYEES BYCOUNTRY Inflow Divestments Germany Belgium *of which146relatedtoreorganization End ofproject/contract (Voluntary) andretirement* termination 1000 2000 3000 4000 5000 31-12-2016 Singapore United Kingdom Philippines The Netherlands 6000 6,153 0 1,464 3% 4% 3% 2% 4% 2% 2% 5% -787* 14% 7% -106 5,772 -954 99 94 68 93 1000 2000 3000 4000 5000 1000 2000 3000 4000 5000 31-12-2017 6000 0 6000 5,772 0 MALE/FEMALE RATIO Male Man Vrouw Other Cyprus Lithuania Finland Mexico Female Inflow Outflow RATIO MALE/FEMALE 54% 31.12.2012 31.12.2011 5,166 Male Female Male 1000 2000 3000 4000 5000 6000 0 606 Man Vrouw TYPE OFEMPLOYMENTCONTRACT

Permanent appointment RATIO BYGENDER FULLTIME/PARTTIME 4,747 362 23% Fulltime Fulltime Parttime 1000 2000 3000 4000 5000 1000 1500 2000 2500 3000 3500 4000 6000 500 5,772 Parttime 0 0 Man Vrouw 419 244 77%

Temporary appointment 613 BY GENDER AGE PROFILE 83 3,122 < 30 396 30 –50 Male > 50 Fulltime Parttime Female 1,431 127 1000 1500 2000 2500 3000 3500 4000 500 32 1 6 7 0 53

CSR 2017 – BOSKALIS < 30 30 –50 > 50 Fulltime Parttime 1000 1500 2000 2500 3000 3500 4000 500 0 < 30 30 –50 > 50 < 30 30 –50 > 50 54 CSR 2017 – BOSKALIS Business Conduct Heemskerk intheNetherlands. Beach replenishment near CONDUCT BUSINESS 60 58 56 our leveragewhereverwecanincreatingvaluewithinthesupplychain. Guidelines forMultinationalEnterprisesandtheUNGlobalCompact.We use We LabourOrganization,OECD endorsetheprinciplesofInternational stakeholders. We dosobyapplyingourGeneralCodeofBusinessConduct. thatactswithintegrity,partner reliabilityandresponsibilitytowards Business conductdescribeshowwefulfillourcommitmenttobeabusiness ‚ RISKS &DILEMMAS ‚ KPIs ‚ ‚ ‚ ‚ ‚ ‚ Our leverageinthevaluechaincanbelimited Supplier CodeofConduct Percentage ofstrategicsupplierswithsigned suppliers duetoprojectorganization Large numberandglobalspreadofdiverse Number ofsuppliersscanned CORPORATE GOVERNANCE RESPONSIBLE SOURCING BUSINESS PRINCIPLES ‚ ‚ ‚ OPPORTUNITIES &GOALS ‚ ‚ RESULTS ‚ ‚ ‚ ‚ ‚ Further evolveour supplychainmanagement Further Effectiveness inmanagingsupplychainrisks Being aresponsibleandintegerbusinesspartner (page 61) 9 suppliersrevisited,11newscanned Supplier CodeofConduct 81% ofstrategicsuppliershavesigned 55 CSR 2017 – BOSKALIS 56 CSR 2017 – BOSKALIS Business Conduct the corporatewebsite. Policy wasrevised atthebeginningof2016 andcanbefoundon detriment asaconsequence of thisnotification.TheWhistleblower in accordancewiththeWhistleblower Policy, shall notsufferany thesuspectedmisconduct tothecounselor,in goodfaithreported misconduct.Theemployee whohas investigation onthereported actions areappropriateand necessary, includingapossible thecounselor shalldecidewhich thereto. Basedonthisinformation inrelation immediately intoconsiderationandgaininformation suspectedmisconduct counselor shalltakethereported appointed forthepurposesofWhistleblowerPolicy. The Conduct. Aconfidentialindependentcounselorhasbeen nature whichisnotinlinewiththeGeneralCodeofBusiness This includesanysubjectofageneral,financialoroperational suspectedmisconductwithinthecompany.the possibilitytoreport Boskalis hasaWhistleblowerPolicyinplacethatoffersemployees andcorruption. bribery monitored withregardtoregulationsandlegislationconcerning andare employees areprovidedwithtargetedinformation incorporated intheaccompanyingemployeemanual.Boskalis the employmentcontractsofBoskalisstaff,havingbeen of part advantage. TheGeneralCodeofBusinessConductforms bestowing anyimproperbusiness,financialorpersonal or acceptbribesotherfavorsforthepurposeofacquiring Business ConductstatesthatBoskalisshallnotoffer, pay, request in theGeneralCodeofBusinessConduct.The andanti-corruptionpolicyisenshrined The Boskalisanti-bribery ANTI-BRIBERY ANDANTI-CORRUPTIONPOLICY on ourcorporatewebsite. The fulltextofourGeneralCodeBusinessConductisavailable the beginningof2018. twoyears,mostrecentlyat reviews itsCodeatleastonceevery andnationalsanctions.Boskalis adhere torelevantinternational judgments andconductsitselfasagoodcitizenorguest.We national legislationandregulations.Boskalisrefrainsfromcultural In thecountrieswhereBoskalisoperates,wearesubjectto responsibility formatterswhichliewithinitssphereofinfluence. Guidelines forMultinationalEnterprises.Boskalisaccepts Labour Organization,theUNGlobalCompactandOECD Human Rights.We endorsetheprinciplesofInternational guidelines,includingtheUniversalDeclarationof on international Boskalis hasaGeneralCodeofBusinessConduct,whichisbased responsible businessconduct,andensuringthesearemaintained. are reinforcedbyestablishingguidelinesandprinciplesfor trust betweenBoskalisanditsstakeholders.Theseintrinsicvalues Integrity, reliabilityandresponsibilityarekeyelementsforbuilding PRINCIPLES BUSINESS TAX PRINCIPLES audits. oftheinternal contracts arepart risks andcompliancewiththeproceduresforconcludingagent efficient settingupandexecutionofprojects.Controlintegrity contacts maybemaintainedbyanagent,whoalsoassistsinthe General CodeofBusinessConductasdescribedabove.Local a contract,whichalsospecificallyincludestheprinciplefrom aresetoutin The guidelinesforcollaboratingwithsuchapartner orsponsor.impossible toconductactivitieswithoutalocalpartner Conduct. InmanycountrieswhereBoskalisoperatesitis suppliers inaccordancewiththeBoskalisSupplierCodeof Boskalis anditssuppliers.Suppliersareobligedtoselecttheirown ofthecontractualrelationshipbetween Conduct, whichispart advantage hasalsobeenincorporatedintheSupplierCodeof or bestowinganyimproperbusiness,financialpersonal offered, paid,requestedoracceptedforthepurposeofacquiring theprinciplethatnobribesorotherfavorsshallbe Furthermore with taxauthorities. Boskalis seekstodevelopstrong,mutuallyrespectfulrelationships RELATIONSHIP WITH TAX AUTHORITIES structuresintaxhavenjurisdictions. ‘artificial’ business rationale.Boskalisdoesnotseektoavoidtaxes through Tax follows the business,meaningthattransactionsmusthavea BUSINESS RATIONALE and standardssuchasIFRS. requirements domestic regulations,aswellapplicablereporting Guidelines. Disclosuresaremadeinaccordancewiththerelevant standards,forexampleOECD guided byrelevantinternational We actatalltimesinaccordancewithapplicablelawsandare COMPLIANCE of our tax managementandtransparency, balancingtheinterests these principlesillustrategoodcorporatepracticeintheareaof Boskalis hasadoptedthefollowingtaxprinciples.We believe governments andcommunities inthecountrieswhichweoperate. governments various stakeholders,includingclients,investorsandthe

57 CSR 2017 – BOSKALIS 58 CSR 2017 – BOSKALIS Business Conduct and bylooking atthingsfromtheclient’s perspective.” from eachother,learning from thebestpracticeswithin Boskalis approach.What’snew uniform more,weare improvingqualityby Working makes65%ofexistingprocedures redundant,thankstoa manager intheDredging&Inland Infradivision:“ThenewWay of Vavier inheropinionbyFrankStikkel,project issupported number ofprojects.” WoW isused extensivelybyvarioustenderteamsforanincreasing coursethispastyear.have completedtheintroductory Already, colleagues. Overeighthundredcolleagues,includingtrainees, program withinourprocess,organizationandthemindset ofour executeandembedour social impact tofurther ideal platform andproposethesetotheclient.Inthatsense,itis alternatives and expectations.WoW stimulatestoconsidersustainable work, suchastheassessmentandinclusionofstakeholder interests role.ThesystemalsointegratesCSRaspectsofour of ourexpert prominent placeinWoW: togethertheyhelpustobemoreaware impact throughoutaproject.OursafetyprogramNINAhas clear understandingoftheclient’s requirementsandofoursocial dialogue,” Vavier explains.“Itiscrucialtoknowthatwehavea principles ofourWay ofWorking. Thisimprovesthequalityof client andcorporateinterestscenterstagebyfocusingonthe toput “No matterwhatphaseaprojectisin,italwaysimportant Vavierperformance,” continues. success ofaprojectandfortheclient,atexpense progress ormanagingsubcontractorscanrepresentathreattothe during theprojectexecutionphase.Differentwaysofmonitoring using differentqualitysystemswerebecomingapparent,especially teaming uptotackleevermorecomplexprojects,thedrawbacksof “Now thatweseedifferentdisciplinesanddivisionsincreasingly GETTING ITRIGHT says corporateSHE-QmanagerJokeVavier. had manyenthusiasticreactions,bothfromcolleaguesandclients,’ understand clientrequirementsbetter. Followingtheimplementation,wehave complexity ofoursystemsandoperationalprocesses,helpsusto focus onprovidingsafeandsustainablesolutions.“WoW reducesthe aconsistentclientapproach,withclear excellence. Itisaimedatoffering inachievingoperational Boskalis employeesthebestpossiblesupport management systemWay ofWorking (WoW). Thesystemisdesignedtogive oftherolloutnewBoskalisintegrated quality This yearwesawthestart REDUCED COMPLEXITY FOCUS ONTHECLIENTAND WAY OFWORKING: achieve this,”StikkelexplainsabouttheWoW goals. request. WoW providesuswiththenecessary, clear frameworkto identification anddiscussionofpossibleinconsistenciesinaproject interpreting clientrequirementscorrectly. Acrucialaspectisthe phase, andwithtightcoordinationtoensurethatweare the process.Itallbeginswithclearcommunicationsintender that allourcolleagueshaveclientexpectationsinmindthroughout execution ofaproject,istokeeptheclientcenterstageandensure “One ofourgoals,bothduringthetenderphaseand subcontractors. Icallthatthe WoW factor!” Janssenconcludes. standardsandoptimizecollaborationwithclients performance tailored totheworkathand. It makesitmucheasiertomaintain than havingtofollowclientprocedures, whichareusuallynot for usisthatwecanworkusing ourowntestedmethods,rather safety systemorcombineitwiththeclient’s ownsystem.Thebenefit take theburdenoffclient:wecannowprovideourproven andparcelofWoW,“In addition,becauseNINAispart wecan different levelsoftheclient’s organization.” at with ourclientsandhelpsustobeacceptedasanequalpartner the benefitsof WoW. “The Way of Working enrichesthedialogue about know moreabouthowwework,”RichardJanssenobserves offshore ordredging,cando.Conversely, theotherdisciplinesalso provides uswithaclearerpictureofwhatotherdisciplines, suchas the sametime,WoW synergiesbecauseit stimulatesinternal It meansthatwecanfindwhatneedinourtoolboxfaster. At “The WoW withinaclearstructure. approachgivesusuniformity THE WOWFACTOR

NINA RULES INPRACTICE MY ROLE ACCORDING TO NINA -workingonenergized systems(including‘LockOut/Tag Out’) -enteringenclosed/con ned spaces (suchaschangeinworkscope ormethodfollowinganincident) ■ ■ Make aJobHazard Analysisforhazardous non-routine activities ■ ■ ■ ■ Obtain aPermittoWork fordefinedhigh-riskactivities ■ ■ ■ Prepare aRiskAssessmentforeachproject, vesselorlocation ■ ■ ■ ■ AS ANEMPLOYEE De nedcontrol measures mustbeimplemented Incaseofhazardous andnon-routine jobs,the supervisorshoulddoaJHA ResponsiblesupervisorissuesaPermittoWork De nedcontrol measures mustbeimplemented BasedontheRiskAssessment otherhigh-riskactivitiescanbede ned Identi edhigh-riskactivities: Themeasures de nedintheRiskAssessmentmustbeimplemented TheRiskAssessment isreviewed periodicallyandupdated whennecessary ResponsibleManager/Captain coordinates theRiskAssessment andmustinvolve Alwaysfollowthevaluesandrules Informyoursupervisorofhazardous situations Ensure thatyouare informed aboutrisksandcontrol AlwayscheckthesafetyofYourself, Equipmentand (Job Hazard Analysis) supervisors measures forthejobandworkenvironment Surroundings (YES) ON LESSONS LEARNED NEAR-MISSES, TO INFORM OTHERS ANDBUILD I REPORT ALLINCIDENTS, INCLUDING POSITION BEHAVIOUR REGARDLESS OFRANK AND I ACCEPT FEEDBACK ABOUT MYSAFETY IF NECESSARY, IWILLSTOP THEWORK I TAKE ACTION INCASE OFUNSAFE OPERATIONS I APPROACH OTHERS ABOUT WORKING SAFELY I AMRESPONSIBLE FOR MYOWN SAFETY VALUES All employees,includingoursub-contractors,are expectedtotakethesevaluesandrulesheart. No Accidents.Thisisembeddedinourcompany’s culture andsupportedthrough Values andRules. Our peopleare ourmostvaluableassets,makingsafetyacore value.Ourgoalis:NoInjuries S AND SHARE KNOWLEDGEAND WE WE EVENTUALITIES ALL MANAGING WE ARE IN CONTROL CLEAR COMMON GOALS WE DEFINE AND ACHIEVE OUR CLIENTS AND CONTRACTS WE FOCUS ONUNDERSTANDING OUR PRINCIPLES commitment with toact respect and integrity. This is how we create new horizons all for our stakeholders. in our teams with experts, facilitates innovation whilst caring and environment the people for with a initiation, planning, execution and completion of our projects. At same the time it promotes diversity systems and procedures, Boskalis the Way of Working provides aconsistent approach towards the with focus aclear on safeand sustainable solutions and aconsistent client approach. More than just BoskalisThe build teamwork, entrepreneurship on professionalism. and we ofexperts, network large and presence With aglobal TEAMS & COMPETENCIES optimization. further for whilst opportunities during operations seeking continuously mitigate and We these risks manage and upfront identify OPPORTUNITIES & RISKS execution. project and management contract to approach professional we By KPIs Plan and ensure utilizing a Group Delivery our &KPIs PLAN DELIVERY of Working. first is our in legislation an essential step applicable the Way Full and client, ofour understanding contract the needs, their & EXPECTATIONSREQUIREMENTS OUR WAY OFWORKINGINPRACTICE CONTINUOUSLY LEARN A INITIATE WAY WORKING quality management OF system aims toachieve operational excellence F E T

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S T JobHazard Analysis orPermittoWork -lifevestduringembarking/disembarkingorifoatingequipmentlacks arailing -high-visibilityclothing -safetyshoesandhard hat -asaresult oftheRiskAssessment -incaseofJobHazard AnalysisorPermittoWork ■ ■ ■ Be FitforDutyandwearthePPErequired ■ ■ ■ Be informedaboutrisk&control measures ■ ■ ■ AS AMANAGER/SUPERVISOR AdditionalPPEare job-speci candbasedontheRiskAssessment, PPEonsite: “FitforDuty”means not underinuenceofalcoholand/ordrugs UpdatesintheRiskAssessment willbecommunicatedwithrelevant personson-site Before startingtheworkatoolboxmeetingisheld: Everyoneonprojects, vesselsandof ces isinformedabouttherelevant riskandcontrol Ensure compliancewiththevaluesandrulesforarea of Create anatmosphere andconditionswithintheorganization Leadbyexampledemonstratingsafetyleadership measures A control address safetyissues where employeesare encouragedtoworksafelyand REQUIRED BE FITFOR DUTYANDWEARTHEPPE MEASURES BE INFORMED ABOUT RISK&CONTROL HAZARDOUS NON-ROUTINE ACTIVITIES MAKE AJOBHAZARD ANALYSIS FOR HIGH-RISK ACTIVITIES OBTAIN APERMITTO WORK FOR DEFINED PROJECT, VESSEL ORLOCATION PREPARE ARISKASSESSMENT FOR EACH RULES OUR IDENTITY WWW.BOSKALIS.COM/WOW of Conduct. Code Supplier our to adhere to and objectives project the commit suppliers and to to We subcontractors our expect PROCUREMENT & SUBCONTRACTING knowledge. share expert and our learn constantly acentury, ofmore than we With history acompany KNOWLEDGE & EXPERIENCE infrastructure. necessary the create and equipment skills, we organize safe, reliable and suitable deploy and management project and fleet global With amodern & INFRASTRUCTURE EQUIPMENT AS AS SOLUTIONS COMMITTED TO ACHIEVE WIN-WIN AS WE LISTEN TO UNDERSTAND AS AS THROUGH NINA OUR PROGRAM SAFETY OWNERSHIP FOR ACTIONS OUR EXECUTE ENTREPRENEURS PLAYERSTEAM PROFESSIONALS T

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GT-002 WAY OF WORKING PROGRAM POSTER REV. JUNE 2017 59 CSR 2017 – BOSKALIS 60 CSR 2017 – BOSKALIS Business Conduct Conditions can bedownloadedfromourwebsite. Supplier CodeofConductand ourGeneralPurchasingTerms and modification endorsedtheSupplier CodeofConduct.Boththe an integratedCSRapproach. AllsuppliersfortheBokalift vesseltocrane wascarriedoutbasedon heavy transport The procurementoftheentire modificationoftheBokalift1from fluctuate fromyeartoyear, due tovariationsinpurchasepatterns. Conduct, comparedto76%in2016.Thispercentagecan 81% ofourstrategicsuppliersendorsedtheSupplierCode of This commitmentisalsoapplicabletotheirownsuppliers. In2017, commit themselvestotheBoskalisSupplierCodeofConduct. procurement contracts.Byenteringintoacontract,suppliers ofall The SupplierCodeofConductisanintegralpart based onsustainabilitycriteria. quality, reliabilityandprice,we alsoselectoursuppliers delivery GeneralCodeofBusiness Conduct.Besidesconsidering internal Boskalis hasaSupplierCodeofConduct,whichmirrorsourown SUPPLIER CODEOFCONDUCT material wasrecycled. Allard-Europe andMagotteaux.In2017,289,000kilogramsof withVanpumps andpickpointsinpartnership Voorden, Vosta, impellers,dredging established cradle-to-cradlechainsforworn enable ustocontributethecirculareconomy. We have that Boskalis isinvolvedinanumberofcross-sectorpartnerships competition andsustainability. andobjectivity,four corevalues:businessethics,expertise open in keepingwiththeNEVICodeofConduct.Thiscodeisbasedon relationshipswithsuppliers aimstoestablishlong-term department toGroupManagement.OurCorporateProcurement and reports for theprocurementpolicyandselectionofstrategicsuppliers, Boskalis Procurement&Logisticsgeneralmanagerisresponsible thatcomefrombuildingasustainablefuture.The opportunities weseektoavoidrisksandseizethe our strategicpartners, 90% ofCorporateProcurementpurchasingvolume.Together with whotogetheraccountfor 200 ofthesearestrategicpartners, andfacilitygoods.Justover wearing andconstructionparts subcontractors, equipment,services, electronics andsurvey andhydraulics, central procurementofconsumables,machinery other Europeancountriesand13%outsideEurope–forthe suppliers –ofwhich73%arebasedintheNetherlands,14% Boskalis maintainsrelationshipswithapproximately1,400 to signandadhereourSupplierCodeofConduct. suppliers basedonvarioussustainabilitycriteriaandrequirethem with supplierswhoactresponsiblyandintegrity. We select At Boskalisresponsiblesourcingstandsforourintentiontowork SOURCING RESPONSIBLE comprising anonline questionnaire based onthe supplier codes of oftheirsuppliers. Itisanassessmentmethod the CSRperformance The toolallows companieslikeBoskalisto execute assessmentsof working formaritimeandoffshore industries. contractors andsubcontractor, andshippingcompaniesyards companies fromacrossthemaritime sector:shipbuilders, include inthisplatform in assessmentmethods.Participants is namedBlueScan,waslaunchedin2017andcreatesuniformity gain insightintheCSRpracticesofoursuppliers.Thetool, which maritime companieshavedevelopedanonlineassessment toolto (MVO Nederland),BoskalisandanumberofleadingDutch In collaborationwiththeMaritimeClusterofCSRNetherlands ONLINE CSRASSESSMENTTOOL during visitstosuppliers. continually monitoradherencetotheSupplierCodeofConduct Besides theseannualimplementationscans,purchaseofficers ‚ ‚ ‚ Institute ofPurchasingandSupply. Theprocedurecomprises: Responsible ProcurementmonitoringmethodoftheChartered criteria intheirownCSRpolicy. ThisisdoneusingtheSocially these suppliershaveadoptedtheSupplierCodeofConduct consultantassessestowhichextent East. Anindependentexternal Africa, SoutheastAsia,China,theUnitedStatesandMiddle been conductedat91uniquesuppliers,basedinEurope,North in2012.Sincethen,scanshave suppliers, werefirstperformed The implementationscans,includingfirst-andsecond-line companies representingacrosssectionofourstrategicsuppliers. 10% ofourstrategicsuppliers.Thisaddsuptoaround20 Each year, weconductanimplementationscanatapproximately IMPLEMENTATION ASSESSMENTSCAN ‚ ‚ ‚ the matrixonnextpage. The dialoguewiththeothersuppliersisstructuredaccordingto our relationshipwiththesesuppliers. will eventuallyterminate Intheabsenceofsufficientprogress,we under oursupervision. impact’ and/or‘higharegiventhechancetoimprove the segmentsindicating‘significantrisk,highsignificant impact Boskalis’businessoperationsorreputation.Suppliersin ofCSRandtowhichextentthismight various suppliersinterms A riskmatrix:usedtoshowthelevelofthatapplies view ofthisapproach. create asustainablesupplychain.Oursupplierstakepositive fromthem.Theaimis toworktogetherdevelopand learn we arealsoopentofeedbackfromoursuppliers,allowingus This isatwo-wayprocess:besidesevaluatingtheperformance, consultant accompaniedbyoneofourseniorprocurementstaff. An onsiteimplementationscan:conductedbyanexternal the SupplierCodeofConduct. consultant. Questionsaresubdividedintothetopicscoveredby A fixedquestionnaire:compiledinconjunctionwiththeexternal CSR IMPLEMENTATIONSCAN2012-2017:91SUPPLIERSSCORED Onsite implementationscanswillalsostillbecarriedoutbyus. the newassessmentmethodinitsresponsiblesourcingstrategy. expectations andprocessimplementation.Boskaliswillintegrate regardingsustainability the unityandclarityforallparties positiveabouttheuser-friendliness ofthetool,aswell were very Eleven ofourstrategicsupplierscompletedtheassessmentand BlueScan wasofficiallylaunchedatthebeginningofNovember. competitive. areas andwhereimprovementiscalledfortoremain helps supplierstogainadeeperunderstandingofpotentialrisk audit request.Inaddition,thetransparencycreatedbyBlueScan only needtoadhereonestandardandhavefulfill sustainable procurementtoahigherlevel,whilemaritimesuppliers assessment method,purchasingcompaniescanlifttheir including ISO26000and20400.Throughthisuniform CSRstandards andinlinewithinternational project partners SIGNIFICANT RISK WITH REGARD TO SOCIALLY AVERAGE RESPONSIBLE PROCUREMENT HIGH LOW IMP ACT ONBOSKALIS’BUSINESSOPERATIONS ORCSRREPUTATION Standard communication (5):generaldiscussionsonCSR; keepingup-to-dateoneachother’s developments communication(4):explainingthe reasonsbehindtheBoskalisCSRpolicy toenableanorganizationadopt thisinternally Informative Persuasive communication (3):focusedonconvincingthe supplier totakemeasuresintheareaof CSR (1and2):constantcoordinationcontinuousdialoguewith thesupplierwithregardtoCSR Dialogue necessary ST INFORMA PERSUASIVE COMMUNICA 2012 -2016 ANDARD COMMUNICA TIVE COMMUNICA 2017 TION TION TION LOW 5 reputation andourbusinessoperations. what thepossiblenegativeimpactcouldbeforBoskalis’ matrix, itisinstantlyclearhowsuppliersscoreregardingCSRand agreements. Resultswererankedinariskmatrix.Byusingsuch based onrelevantdocumentssuchastheirwebsiteandsupplier pilot fortheBlueScantool.All20supplierswereinterviewed quality, ofa clientsandsuppliers.The11newsupplierswerepart Conduct criteriaintheareasofsociety, environment,employees, previous years.ThequestionnairemonitorstheSupplierCodeof visits werebasedonthequestionnaireandmethodsusedin policies. Inaddition,11newsupplierswerevisited.Therecurring developandoptimizetheir themtofurther we willbesupporting impact’ to‘highrisk,lowimpact’.Attherequestofthissupplier, significantly lowercomparedto2012,shiftingfrom‘lowrisk,low improved scorescomparedtotheearlierscan.Onlyonescored 2014 wererevisited.Oftherecurringvisits,8suppliersshowed scan. Thisyear, 9suppliersthatwerevisitedbetween2012and As inpreviousyears,BoskaliscarriedouttheCSRImplementation RESULTS IN2017 AVERAGE 4 HIGH 3 2 2 1 NECESSARY DIALOGUE SIGNIFICANT 61 CSR 2017 – BOSKALIS 62 CSR 2017 – BOSKALIS Business Conduct SUSTAINABLE PROCUREMENT BLUESCAN: CO-CREATING sustainability leveloftheirsuppliers. maritime sectortoexecuteassessmentsofthe tool, enablingcompaniesthroughoutthe resulted inthelaunchofso-calledBlueScan make procurementmoresustainable.This Theunissen Technical Trading joinedforcesto Pon PowerBV, RoyalIHC,80/20and 2016, Boskalis,HeeremaMarineContractors, economic, socialandenvironmentallevel.In to generatesustainedprofitabilityonan thancostfactorsonly.us tolookfurther Keyis Simultaneously, increasingglobalizationforces supply chainsarebecominglesstransparent. lifetime ofaproductisbecomingshorter, is constantlyevolving.Whiletheexpected The roleofprocurementinthemaritimesector foremost ISO26000and ISO20400.” standards:first and Prerequisite was thatitwouldbeinlinewith international thedevelopment ofsuchatool. MVO Netherlands decidedtosupport entire maritimesector. Together withanumberofleadingmaritimepartners, topitchmyidea tocomeoneauditingtoolforthe I tooktheopportunity requirements ofhisclients.At anMVONetherlands(MaritimeCluster)event, supplier whohastocomplywith allthedifferentauditingmethodsand itrequiresfroma Boskalis. “Justimaginetheamount oftimeandeffort Joost Rijnsdorp,GeneralManagerCorporateProcurement &Logisticsat remarks supply chainandoursuppliersweredoingthesameontheir part,” auditing usingtheirownmethods:weweresuppliers rightdownthe “It hadalwaysbaffledme,whyinthemaritimesector, was everybody

proper rating and set a uniform industry standard.” industry proper ratingandsetauniform doubt astotheirinterpretation.Onlythenisitpossible provide a insuchawaythattherecouldbeno questions wereformulated scan has110questionsineightcategories.Itwasessential that audit andhowresultsweretobeinterpretedmeasured. The process wastocreateaconsensusaswhatrequired inthe behalf ofBoskalis,continues:“Thebiggestchallengethe whole Paula Ockeloen,memberoftheBlueScanReviewersBoardon sharingamongst themaritimenetworkpartners.” information for maritimesuppliersworldwide.Inaddition,thetoolenables concrete incentiveforsustainablechoicesinproductsandservices tool offersaccesstoawell-foundedsustainabilitymethodandis and/or evaluationstandard,whichwillleadtoefficiencygains.The prescribes procurementprocessrequirementstoensureahighaudit one auditrequest.Thetoolisembeddedinaprojectframeworkthat only needtoadhereonecommonstandardandwillreceive our suppliers.Inpractice,thismeansthatfromnowon,suppliers several othermethodsthatwereusedtoassessthesustainabilityof entire maritimesector. Thestandardhasbeen basedoninputfrom standardforthe “In creatingtheBlueScantool,we’vesetauniform ONE STANDARD, ONEAUDIT sustainable practices.” have manydifferentinterpretationsandimplementationsof standard hinderedthis.Asaresult,wenow of asingle,uniform boost sustainabilitythroughoutthesupplychain.However, thelack “For sometimealready, numerouscompanieshavebeenlookingto Maritime Exhibitionin November,” Ockeloen adds. officially launched duringtheMaritime Week attheEuroport improvingthescan.BlueScan was extremely valuable infurther the Netherlandsandabroad. Theirfeedbackandinputhasproven suppliers, representativeforboth smallandlargercompaniesfrom implementation scansofourstrategic suppliers.We selectednine “During thispastyear, wepilotedthescanwhilstconducting the PROCUREMENT PRACTICES BRIDGING THEGAPINSUSTAINABLE “IN CREATING THEBLUESCANTOOL, WE HAVE SETAUNIFORMSTANDARD FOR THEENTIREMARITIMESECTOR” throughout theentiremaritimevaluechain,”Rijnsdorpconcludes. and willundoubtedlycreateworldwidepositiverippleeffects BlueScan bytheDutchmaritimesectorwillleadtosignificanteffects contribute tosustainableinnovations.Extensiveadoptionof transparency inthesectorfieldofCSR,butwillalso positive.BlueScannotonlystimulates suppliers havebeenvery sustainable procurementprocessestoahigherlevel.Reactionsfrom By usingtheBlueScantoolcompaniesareabletolifttheir comes tosustainabilityexpectationsandprocessimplementation. whenit have managedtoachieveunityandclarityforallparties we “By aligningmethodsandcollaboratingthroughoneplatform, understanding andresults are.By communicate whattheirefforts customer andsupplier. UserscansharescoresforCSRand transparent way. Bydoingso,itenablesinteraction between levels andpossibleareasofimprovement ofcompaniesina risk BlueScan accuratelymapsthe sustainableperformance, LEARNING FROMEACHOTHER separate scansfordifferentcustomers. only havetosubmitthescanonce,insteadoffillingout considerable efficiencyandcost-savingbenefits:suppliers standards.Thetoolhas in compliancewithinternational custommademethodsandis builds upontheprojectpartners’ of suppliersustainabilitylevels.Itcontainsaquestionnaire that corporate socialresponsibility, aswellexecuteassessments theirownlevelof throughout themaritimesectortodetermine The BlueScantoolisanonlinethatallowscompanies ABOUT BLUESCAN each other and boost their performance. each otherand boosttheirperformance. eachother’s from canlearn results,participants 63 CSR 2017 – BOSKALIS 64 CSR 2017 – BOSKALIS Business Conduct CORPORATE GOVERNANCE Report 2017, the Remuneration Report andourcorporatewebsite. 2017,theRemunerationReport Report BoardandtheofManagement–pleaserefertoourAnnual of theSupervisory policy,governance ofofficeandourorganization–includingthe composition terms Board,theBoardofManagement, ourcorporate ofthe Supervisory For thereports Board. the Supervisory reviewed bytheBoardofManagementBoskalisandisdiscussedinitsentiretywith is directlytotheBoardofManagement.Thereport Communications whoalsoreports wasdrawnupundertheresponsibilityofdirectorIR&Corporate This CSRReport indicators. the BoardofManagementonrespectiveCSRkeyperformance to report The businessunitdirectorsandtheheadsofrelevantstaffdepartments With totheBoardofManagement. regardtoHR-relatedobjectives,theHRdirectorreports totheBoardofManagementonsafetyrelatedtopics. The managerSHE-Qreports inthisrolebytheTaskforcessupported EnergyManagementandEco-Engineering. The BoardofManagementisresponsibleforthecompany’s CSRpolicyandis refer toourcorporatewebsitefortheRemunerationReport. responsible forensuringthattherelevantproceduresarefollowedcorrectly. Please theremunerationandis auditor isinvolvedindetermining objectives. Theexternal corporate ofthelong-term statesclearlythattheseCSRaspectsarepart Report also CSRobjectivessuchassafetyandtalentmanagement.The2017Remuneration Boskalis strategicagenda,incorporatingnotjustfinancial-economicobjectivesbut The remunerationpolicyandelementsaredirectlyderivedfromthe the BoardofManagementandstakeholders. Boardanditscommittees, At BoskalisthereisclosecollaborationbetweentheSupervisory regarding thegeneralaffairsofcompanyandadvisingBoardManagement. managementperformance Boardisresponsibleforsupervising theSupervisory Furthermore, 2017. Report pleaserefertothestrategysectioninourAnnual Board.Formoreinformation, Supervisory Early 2017,theCorporateBusinessPlan2017-2019wasdiscussedandapprovedby valuecreationandtheimplementationthereof. of thelong-term ofthestrategyforrealization theBoardofManagementonformulation supervising and riskstheresultsofcompany.Boardisresponsiblefor TheSupervisory company’s valuecreation,aswellfortheculture,opportunities strategyforthelong-term of thebusiness,continuitycompanyandforsettingoutrealizing are segregated.TheBoardofManagementisresponsiblefortheday-to-daymanagement Boskalis operatesatwo-tierboardmodel,whichmeansthatmanagementandsupervision 65 CSR 2017 – BOSKALIS 66 CSR 2017 – BOSKALIS Appendix cable installation nearNewfoundland, Canada. Fallpipe vesselRockpiper workingonasubmarine APPENDIX 79 78 77 74 72 70 68 GLOSSARY ASSURANCE STATEMENT INDEPENDENT LIMITED SHE-Q DATA HR DATA OVERVIEW STAKEHOLDER DIALOGUE GRI STANDARDS CORE GRI TABLE ABOUT THISREPORT 67 CSR 2017 – BOSKALIS 68 CSR 2017 – BOSKALIS Appendix divestments in2017. ofacquisitionsand foranoverview refer toourAnnualReport Please mid-2017. Gardlinewillbe included inthe2018report. CSR datafromGardline,which wasacquiredandconsolidated is2017 that controlisrelinquished.Excluded fromthisreport uptothemoment is acquired.Divestmentsarereported asfromthemomentcontrol(ownership) acquisitions arereported rulesforconsolidation.Thismeansthat financial reporting inaccordancewiththe acquired. Divestmentsarereported reporting. therefore includescontractorsinitssafetyperformance acknowledges itsresponsibilityforthesafetyofcontractors and dailyactivities. Boskalis number ofcontractorstoperform a controllinginterest.However, Boskalisreliesonasignificant or majorityownedandfromjointventuresinwhichBoskalis has includesonlyCSRdatafromentitiesthatarefully The CSRReport added. indicatorshavebeen meaningful, quantitativekeyperformance risksandachievedresults.Where as describingopportunities, between ourinput,business,outcome,impactandSDGs,aswell instance, byincludingabusinessmodelandmakingclearlink clearer.correlation betweenthevarioussectionsofreport For In2017,wehaveoncemoretakenstepstomakethe CSR report. We giveninour strivetoimprovethequalityofinformation significant byourstakeholders. thatbothofthese areconsideredrelevantand confirmed It valuable inputforourCSRstrategyandstructureofreporting. materiality matrixwasdrawnup.Theanalysisprovided topics forBoskalis.Basedontheresultsofthisprocess,new ofthe theimportance todetermine inthesurvey participated the stakeholders.TheBoskalisgroupmanagementalso theindividualtopicswereto how important was usedtodetermine An onlinesurvey, complementedbydeskresearch and interviews 70 stakeholdersfromourkeystakeholdergroupswereconsulted. guidelines,regulationsandlegislation.Morethan international derived fromBoskalis’strategy, itsactivitiesaswellfrom Boskalis managementselectedrelevantmaterialthemesandtopics analysis in2015.Thiswasfullyupdatedthisyear. requirementswecarriedoutaninitialmateriality information impacted byouractivities.Inordertoensurewemeettheir have aninfluenceonourlicensetooperateorcanbesignificantly requirements ofourkeystakeholders.Ourstakeholderseither isbasedontheinformation The scopeofourCSRreporting since 2009. report (CSR) strategy, andresultsinaseparateannual performance We onourCorporateSocialResponsibility havebeenreporting PURPOSE ANDSCOPEOFTHEREPORT THIS REPORT ABOUT of the reported data compared to the 2016 reporting period. data compared tothe2016reporting of thereported No changeswere madetodefinitionsand measurementmethods inherent limitations ofthedata. next page,weelaborateon the methodology, calculations and limitations associated with measuring and calculating data. On the collection processandthenature ofsustainabilitydatathereare verifying ourdata.However, duetogenericchallengesin thedata auditsandexternally internal databyperforming of ourreported indicators comprisedintheguidelines.We aimtoensurereliability includingtheGRItechnicalprotocolsfor present information, We usegenerally acceptedprotocolstocompile,measureand CALCULATION METHODS OFESTIMATION, MEASUREMENTAND assuranceprovider. andconclusionofourexternal report its keyCSRmetrics.Pleaserefertopage78fortheassurance assuranceprovidertoverify years, Boskalisappointedanexternal outcome ofsystematicdatagatheringandanalysis.Asinprevious faithfullyrepresentsthe containedinthisreport The information EXTERNAL VERIFICATION operations. stakeholder dialogueandtheissuesrelevanttoBoskalis’ KPIsareselectedonthebasisofinteractive of thereport. Standards. TheGRIreferencetableisincludedonpages70-71 version oftheguidelineswhichwerelaunchedin2016:GRI inaccordancewiththemostrecent reporting 2017 westarted Initiative(GRI)standards.In guidelines oftheGlobalReporting reporting principles, whicharebasedontheinternational The CSRdataispreparedinaccordancewithourreporting REPORTING PRINCIPLES accountant. verifiedbyanexternal CSR information audit ensuresareasonablelevelofdatareliabilitywehaveour indicators in2017.Althoughweareconfidentthatourinternal auditswereconductedonmaterialCSRtopicsand internal Inaddition,asinpreviousyears,anumberof of theCSRReport. thatisresponsiblefortheproduction Communications department incloseconsultationwithourCorporate department, tool, whichismonitoredbyourGroupAccounting&Reporting viaadedicatedonlineSAP-basedreporting reporting quarterly Thisisbasedon ending withtheconsolidatedgroupreports. and through therelevantbusinessunitsandstaffdepartments with theprojectsandlocalofficeorganizations,movingup consolidation ofCSRdatatakesplaceatsuccessivelevels,starting Board.The discussed initsentiretywiththeSupervisory the responsibilityofBoardManagement.Itscontentwas CSRteamunder iscompiledbyamultidisciplinary The CSRReport REPORTING PROCESS ‚ ‚ Boskalis Nederland. community programs madebyCorporateHead Officeandby workforce. Communityinvestment dataincludestheinvestmentsin Our operationsintheNetherlands accountfor54%ofour by ourdomesticoperations. the communityinitiativesundertaken on presence intheNetherlands we providequantitativereporting community activitiesforthese operations.Inviewofourpermanent innature.Wetemporary onthe providequalitativereporting limited. Mostofouractivitiesareproject-basedandtherefore operationsoutsidetheNetherlandsare Material permanent COMMUNITY INVESTMENTDATA Cases andRestrictedWork Cases,per200,000hoursworked. Rate(TRIR).TRIRiscomposedofLTIs,Injury MedicalTreatment divisions. InadditiontoLTIF, wealsoprovidetheTotal Recordable LTIF onpage77showsabreakdown forthevarious overview resulting inabsencefromworkper200,000hoursworked.The Frequency (LTIF) expressesthenumberofworkplaceaccidents serious enoughtoresultinabsencefromwork.LostTime Injury (LTI)Lost Time Injury expressesthenumberofworkplaceaccidents SAFETY DATA ISM standardsareusedfortheconversionoffueltoCO applied totheMGO/MDOconversion.ThefollowingISOand followed. Themoststringentdensityfactorof0.890kg/lis conversion ofvolumetoweight,theISO8217:2012standardis CO pleaserefertopages74-76. information, Formore and arenotincludedinthedetailedreporting. employees arenotemployedbyaBoskalismajorityownedentity inviewofthisgroup’sreporting substantialsize.However, these crewoftheDockwisevessels,areincludedinoverall Eastern, The employeesofjointventuresandtheAnglo HR DATA The CO standards areusedfortheconversionoffueltoCO & InlandInfraandOffshoreEnergydivisions.ISOISM ‚ ‚ – HFO0.991kg – MGO/MDO0.890kg per liter: specification 8217E,usingthefollowingspecificgravity Volume toweightconversiontakesplaceaccordingISO Conversion ofMTfueltoCO – MGO/MDO3.206MTCO per MToffuel: Resolution MEPC.212(63),usingthefollowingconversionfactor – HFO3.114MTCO 2 DATA 2 datacoversallfuelconsumedbyvesselsoftheDredging 2 2

2 takesplaceaccordingtoIMO 2 . Forthe 2 : ‚ benchmarked: wasmonitoredand In 2017,oursustainabilityperformance BENCHMARKS volume. some 90%oftheCorporateProcurementdepartment’s purchasing suppliers areregardedasstrategicwhoaccountfor 204ofthese suppliers oftheCentralProcurementdepartment. The supplychaindatareferstotheprocurementspendby SUPPLY CHAINDATA Website: www.boskalis.com/csrreport Email: [email protected] Telephone: +31786969822 Director InvestorRelations& Corporate Communications L.D.Schuttevâer Martijn requested tocontact: engage withyouonthissubject, inwhichcaseyouarekindly onitaregreatlyappreciated.Wethe waywereport arehappyto Any suggestionsyoumayhaveforimprovingourCSRpolicy or CONTACT 2017on8March2018thecorporatewebsite. Annual Report 2017waspublishedatthesametimeas The CSRReport PUBLICATION DATE ‚ ‚ ‚ wererecognizedasfollows: In addition,ourefforts ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ CO forthehighestlevelof Boskalis wasonceagaincertified uninhabited islandGriendintheNetherlands. Constructionmagazine,forstabilizingthe by DredgingandPort attheDPCInnovationAwardsNature category 2017organized Highly commendedintheWorking, BuildingorEngineeringwith innovative andsuccessfulway. relationships withalltheirstakeholdersinthemostcreative, organizations thathaveworkedonmutualbeneficial Management Awards 2018,whichareawardedto attheDutchStakeholder Runner-up intheProfitcategory process,facilitatingdatagatheringandconsolidation. reporting was alsousedasdedicatedonlinetooltooptimizeourCSR Business PlanningandConsolidationapplication(BPC),which Winner ofthe2017SAPQualityAward Goldforrollingoutthe available tosubscribedinvestors. onemissions thatmakes information platform global reporting intheCarbonDisclosureProject,a Once again,wetookpart Affairs. Transparency ofEconomic BenchmarkoftheDutchMinistry We forthe finished43rdoutof477companiessurveyed 2 Performance Ladder(level5)intheNetherlands. Performance 69 CSR 2017 – BOSKALIS 70 CSR 2017 – BOSKALIS Appendix we are reporting on along with the references to the chapters where this information canbefound. onalongwiththereferencestochapterswherethisinformation we arereporting belowliststherequireddisclosures followstheGRIStandards,levelcore.Theoverview This report GRI STANDARDS CORE GRI TABLE 102-44 102-43 102-41 102-9 102-8 102-7 102-6 102-5 102-4 102-3 102-2 102-42 102-40 STAKEHOLDER ENGAGEMENT 102-18 GOVERNANCE 102-16 ETHICS ANDINTEGRITY 102-14 STRATEGY 102-13 102-12 102-11 102-10 102-1 DISCLOSURE GENERAL DISCLOSURES ORGANIZATIONAL PROFILE Collective bargainingagreements Supply chain onemployeesandotherworkers Information Scale oftheorganization Markets served Ownership andlegalform Location ofoperations Location oftheorganization’s headquarters Activities, brands,products,andservices List ofstakeholdergroups structure Governance Values, ofbehavior principles,standards,andnorms Statement fromtheCEOaboutrelevanceofsustainability Name oftheorganization Key topics and concerns raised Key topicsandconcerns Approach tostakeholder engagement Identifying andselectingstakeholders Membership ofassociations initiatives External Principle or approach Precautionary Significant changestotheorganizationanditssupplychain TITLE Appendix –Stakeholderdialogueoverview Boskalis ataglance–CSRstrategy, Boskalis ataglance–CSRstrategyandBusinessmodel Risk management ofBoardManagement– –Report Annual Report Boskalis ataglance–CSRstrategy Chairman’sAnnual report: statementandFinancialperformance Business conduct–Responsiblesourcing Appendix –Stakeholderdialogueoverview Business conduct–Responsiblesourcing Boskalis ataglance–Businessmodel Boskalis ataglance–CSRstrategy, Appendix –HRdata Care forhumancapital–LaborpracticesandDiversity, –ConsolidatedStatementofProfitorLoss Annual Report –KeyFigures Annual Report Boskalis ataglance–Companyprofile –StrategyandFinancialperformance Annual report Cover –KeyeconomicandCSRoutput Business conduct–Responsiblesourcing, Boskalis ataglance–CompanyprofileandCSRstrategy, Boskalis ataglance–Companyprofile –Jointoperations Annual Report Business conduct–Responsiblesourcing Impact onlocalcommunities–Localdevelopment, Boskalis ataglance–CompanyprofileandActivities, Boskalis ataglance–Companyprofile Boskalis ataglance–Activities Boskalis ataglance–CSRstrategy Business conduct–Corporategovernance Business principlesandResponsiblesourcing Boskalis ataglance–CSRstrategyandBusinessmodel,conduct – Chairman’s statement Boskalis ataglance–Companyprofile REFERENCE Appendix –Stakeholderdialogue overview Boskalis ataglance –CSRstrategy, Appendix–Aboutthisreport Boskalis ataglance –CSRstrategy Care forhumancapital–Laborpractices 304 GRI 304:BIODIVERSITY IMPACT ONBIODIVERSITY 403-2 403 GRI 403:OCCUPATIONAL HEALTH ANDSAFETY HEALTH ANDSAFETY DISCLOSURE SPECIFIC STANDARDDISCLOSURES 102-56 102-55 102-54 102-53 102-52 102-51 102-50 102-49 102-48 102-47 102-46 102-45 REPORTING PRACTICE DISCLOSURE Own indicator DMA NO DIRECTLINKWITHGRI LOCAL DEVELOPMENT 414-1 414 GRI 414:SUPPLIERSOCIALASSESSMENT RESPONSIBLE BUSINESSCONDUCT 201-1 201 GRI 201:ECONOMICPERFORMANCE ECONOMIC PERFORMANCE 305-2 305-1 305 GRI 305:EMISSIONS EMISSIONS 304-2 and absenteeism,numberofwork-relatedfatalities Types andratesofinjury, ofinjury occupationaldiseases,lostdays, assurance External GRI contentindex inaccordancewiththeGRIStandards Claims ofreporting New suppliersthatwerescreened usingsocialcriteria Direct economicvaluegeneratedanddistributed Energy indirect(Scope2)GHGemissions Direct (Scope1)GHGemissions onbiodiversity Significant impactsofactivities,products,andservices Management approachdisclosures Management approachdisclosures Contact pointforquestionsregardingthereport cycle Reporting Date ofmostrecentreport period Reporting Changes inreporting Restatements ofinformation List ofmaterialtopics contentandtopicboundaries Defining report Entities includedintheconsolidatedfinancialstatements Management approachdisclosures Management approachdisclosures Management approachdisclosures Management approachdisclosures Description of the activities involving supporting local communities Description oftheactivities involvingsupporting TITLE TITLE Appendix – About this report andVerificationAppendix –Aboutthisreport statement Appendix –GRItablestandardscore P.1 andAppendix–GRItablestandardscore Impact on localcommunities Business conduct–Responsiblesourcing Keyfigures Annual Report: Impact ontheenvironment–Emissions Impact ontheenvironment–Emissions Impact ontheenvironment–biodiversityandecosystems Appendix –SHE-Qdata Care forhumancapital–HealthandSafety REFERENCE REFERENCE Impact ontheenvironment–biodiversityandecosystems Boskalis ataglance–CSRstrategy Boskalis ataglance–BusinessModel Appendix –Aboutthisreport Care forhumancapital–HealthandSafety Boskalis ataglance–CSRstrategy Boskalis ataglance–BusinessModel Appendix –Aboutthisreport Annually 2016,published 8March2017 CSR report 2017–31December 1 January Appendix –Aboutthisreport previous CSRreports providedin No restatementsweremadewithregardtoinformation Boskalis ataglance–CSRstrategy Boskalis ataglance–CSRstrategy, Appendix–Aboutthisreport –Financialperformance Annual report Appendix –Aboutthisreport Appendix –About thisreport Impact onlocalcommunities Boskalis ataglance –CSRstrategy Boskalis ataglance–BusinessModel Appendix –Aboutthisreport Business conduct–CorporateGovernance Business conduct–Responsiblesourcing Boskalis ataglance–CSRstrategy Boskalis ataglance–BusinessModel oftheBoardManagement Report Annual Report: Appendix –Aboutthisreport Impact ontheenvironment–Emissions Boskalis ataglance–CSRstrategy Boskalis ataglance–BusinessModel 71 CSR 2017 – BOSKALIS 72 CSR 2017 – BOSKALIS Appendix this overview. Thetopthreematerialtopicsperstakeholdergroupreflectstheoutcomeofrecentlyconductedmaterialityanalysis. interests andallowsustoestablishtherelevantCSRmaterialtopics.In2017,weengagedwithourstakeholdersregardingtopicslistedin stakeholdersenablesustoacquireaclearunderstandingoftheirexpectationsand andinternal Entering intodialoguewithbothourexternal DIALOGUE OVERVIEW STAKEHOLDER CLIENTS EMPLOYEES 3. 2. 1. 3. 2. 1. ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

Client meetings during project execution project during Client meetings websites and releases Press Conferences and exhibitions Meetings, personal contact, email, telephone HOW ENGAGED WE TOPICS MATERIAL days Family –3issues Magazine Cohesion Information and engagement sessions on-site sessions training implementation and WoW meetings out pre-roll trainingNINA and meetings meetings staff Six senior Management Senior with meeting Plan Corporate projects and vessels to Management of visitsFrequent by Board of Management Works Board and Council between Six meetings HOW ENGAGED WE TOPICS MATERIAL Stakeholder engagement Safety and Health employability Sustainable ecosystems and biodiversity on Impact Economic performance Emissions

■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ labor agreements of recently acquired companies acquired recently of agreements labor of harmonization the organization and (staff) Boskalis Papendrecht the for Reorganization plan WORKS WITH COUNCIL DISCUSSED SUBJECTS Impact Program in Duqm, Oman (pages 20-21) Program (pages in Duqm, Oman Impact Boskalis of Social implementation Successful 31) (page projects Building Nature with of execution and implementation Successful refer to our Annual Report for more information Please projects. multiple of execution Successful RESULT DIALOGUE OF Stakeholder engagement on projects meetings progress Project including Building with Nature approach execution, and design Aligning sustainable Development and implementation of WoW SUBJECTS was launched own health their on work to employees encouraging at aimed A program 2016 the on based plan social reorganization Papendrecht the for plan A social agreementsthe labor harmonization plans Positive Works by the regarding Council advice the reorganization plans Positive Works by the regarding Council advice RESULTS OF DIALOGUE healthy, motivated and employees keep safe how to exploring discussions further Continued DISCUSSED SHAREHOLDERS I ORGANIZATIONS SOCIETY CIVIL AND NGOs SUBCONTRACTORS AND SUPPLIERS NVESTORS AND AND NVESTORS 3. 2. 1. 3. 2. 1. 3. 2. 1. ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

Press releases and website and releases Press Conferences, email, telephone 2016 Full Year 2017 and Year Half results 2017-19, Plan Webcast Business presentations: investor meetings 300 than More General Meeting of Shareholders HOW ENGAG WE TOPICS MATERIAL CSR on State’sthe agency credit export and Ministries NGOs, with together Government Dutch the of rounds in consultation Participation island Marker first on public for Wadden day Open XL Port and Wageningen University and/orUniversity, financially,Delft as such in events kind and research, projects Supporting Meetings, personal contact, email, telephone HOW ENGAG WE TOPICS MATERIAL Implementation scans Conferences and exhibitions Meetings, personal contact, email, telephone HOW ENGAGED WE TOPICS MATERIAL Local development Safety and Health Business conduct ecosystems and biodiversity on Impact Climate change adaptation Waste management and effluents and Waste management ecosystems and biodiversity on Impact Responsible sourcing Business conduct ED ED ED ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ courses training in NINA partners of Participation 42) (page biofuel drop-in Further application of GoodFuel marine 62-63) (pages tool BlueScan of launch Successful 61) (page results scan Implementation RESULT DIALOGUE OF Safety and Health BlueScan implementation scan tool scans implementation Conduct of Code Supplier chain supply in the Sustainability SUBJECTS Clearing the world’s the Clearing plastic from oceans initiatives and cultural Social chain supply in value the shared Creating SUBJECTS Please see our Annual Report RESULT DIALOGUE OF divestments and dividend M&A, including restructuring measures; capital allocation pipeline;project outlook; and financial results 2017-19; Plan Business developments; market topics in 2017 Specific performance. included: financial resultant our and strategy our about possible as transparently and completely as We stakeholders our inform to strive SUBJECTS 23)(page Museum Port to Zierikzee fishingboat Historical 1,291 visitors to the Marker Wadden island 23) online (page MedAssist of Development 32-33) (pages in Monaco Reserve Marine Larvotto the in modules reef six of artificial Placement 22) (page Foundation Sea North Tour the Cleanup NGO with Boskalis Beach 24-25) (pages Cleanup Ocean The for prototype new of Development RESULT DIALOGUE OF while promoting sustainable development field playing level maintain to How effective an reefs using 3D printed ecology marine Restoring DISCUSSED DISCUSSED DISCUSSED

73 CSR 2017 – BOSKALIS 74 CSR 2017 – BOSKALIS Appendix HR DATA COMPOSITION OFWORKFORCE NUMBER OFEMPLOYEES majority ownedentityandarenotincludedinthedetailedreporting. substantial size.However, theseemployeesarenotemployedbyaBoskalis inviewofthisgroup’sDockwise vessels,areincludedintheoverallreporting crewofthe The employeesofjointventuresandtheAngloEastern, The Netherlands TOTAL Man Women WOMEN/MEN RATIOS Number ofdifferentnationalities NATIONALITIES TOTAL Singapore United Kingdom United ArabEmirates South Africa Anglo Eastern Other Germany Germany Cyprus Nigeria Belgium Philippines Lithuania Finland Brazil Mexico BY COUNTRY NUMBER OFEMPLOYEES Joint Ventures TOTAL Subtotal Boskalis 10,732 5,772 3,135 6,410 4,322 5,772 100% 2017 2017 2017 2017 140 130 132 193 133 239 225 175 638 287 417 741 90% 10% 14 18 41 64

11,733 6,960 3,444 6,153 4,773 6,153 2016 100% 2016 2016 2016 368 178 104 496 266 119 385 125 191 121 257 807 89% 11% 18 46 35 63

TRAINING Yes Age >50 Age 30–50 Age <30 JOB CATEGORYANDGENDER AGE PROFILEBYGENDER AGREEMENTS BYGENDER TYPE OFCONTRACTBYGENDER TRAINING HOURSBY TOTAL TOTAL TOTAL TOTAL TOTAL Office staff Crew/yard staff No Parttime Fulltime COLLECTIVE BARGAINING Permanent/indefinite based Fixed term/project Project staff Management BY GENDER FULLTIME/PARTTIME RATIOS TOTAL 2017 TOTAL 2017 TOTAL 2017 TOTAL 2017 TOTAL 2017 38,922 14,563 77,799 23,351 100% 100% 100% 100% 963 89% 23% 61% 12% 67% 11% 77% 33% 27% FEMALE : FEMALE : FEMALE : FEMALE : FEMALE : 4,454: 240: 963: 37% : 11% : 12% : 12% : 13% : 96: 7% : 6% : 5% : 8% :

10,109

22,388 38,682 867 MALE 93% 63% MALE 94% 95% 92% 89% 88% 88% 87% MALE MALE MALE 112,174 27,965 60,901 21,281 2,027 100% 100% 100% 2016 2016 2016 2016 100% 2016 38% 62% 93% 61% 13% 26% 24% 76% 7% 75 CSR 2017 – BOSKALIS 76 CSR 2017 – BOSKALIS Appendix RECRUITMENT DEVELOPMENT TOTAL OUTFLOW BYAGEGENDER TOTAL OUTFLOW BYREASONGENDER TOTAL INFLOW BYAGEGENDER Age <30 Divestments Age <30 Age 30–50 End ofproject/contract Age 30–50 Age >50 Voluntary resignation Age >50 Retirement/death Termination Workforce/Crew JOB CATEGORIESBYAGE JOB CATEGORIESBYGENDER TOTAL TOTAL Office staff Office staff Crew/yard staff Project/Site Staff Project staff Management Management 12% 11% 19% 0% 9% <30 TOTAL 2017 TOTAL 2017 TOTAL 2017 TOTAL 2017 30 T/M50 1,464 51% 59% 61% 61% 66% 1,847 1,100 100% 100% 253 380 831 27% 24% 46% 19% 52% 19% 427 320 3% 6% 4% 2017 49% 30% 27% 21% 26% FEMALE : FEMALE : FEMALE : FEMALE : >50 22% : 13% : 32% : 184 : 107 : 104 : 8% : 5% : 7% : 12: 40: 52: 6% : 7% : 1% : 41 : 36 : 13% 13% 11% 18% 0% 78% 386 1,663 MALE MALE 284 92% 993 95% 87% 93% <30 241 1,360 MALE 340 779 68% 94% 93% 99% MALE 30 T/M50 58% 45% 61% 66% 61% 3,090 1,903 1,645 1,162 100% 100% 2016 2016 2016 2016 2016 21% 31% 45% 35% 44% 13% 29% 55% 26% 23% 21% 362 888 557 379 3% 6% 3% >50 0,0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8 In 2017therewas1fatalityinajointventureprojectwithinourDredging&InlandInfrabusinessunit. OVERVIEW OFCERTIFICATIONS BOSKALIS SHE-Q DATA LOST TIMEINJURY FREQUENCY(LTIF) ANDTOTAL RECORDABLEINJURY RATE (TRIR)BOSKALIS on the new ISO 9001 & 14001 and the OHSAS 18001 standards. Recertification byBureau on thenew ISO9001&14001 andtheOHSAS 18001standards. Recertification isexpectedtobe completedbymid-2018. Veritas Certification assessment fortheBoskalisWayDuring thesecondhalf of2017,conformity ofWorking qualitymanagementsystem andourNINAsafetyprogramcommenced based 1) VCAonlyforprojects andactivitiescarriedoutintheNetherlands, insteadofOHSAS18001 Dredging &InlandInfra Offshore Energy Offshore Towage Europe)&Salvage (Northwest SMIT AmandlaMarine Others &FleetManagement GROUP TOTAL LTIF 2010 0.67 SALVAGE OFFSHORE ENERGY DREDGING &INLANDINFRA 2011 0.32 0.26 2012 2013 0.11 0.09 2014 2015 0.08 ISO 14001 0.08 2016 0.55 0.58 0.43 0.83 0.70 TRIR 0.06 2017 0.02 ✓ ✓ ✓ 0.06 0.10 LTIF 0,0 0,1 0,2 0,3 0,4 0,5 0,6 0,7 0,8 - - HOURS (MILLION) TRIR 2015 0.70 29.66 16.63 8.80 0.24 3.99 2016 0.66 OHSAS 18001ORVCA 0.55 2017 2017 1 LTI’S 9 8 - - ✓ ✓ ✓ 0.19 0.66 0.83 0.41 4.30 0.61 1)

TRIR ISO 9001 0.09 0.08 0.10 0.04 0.99 0.05 LTIF HOURS (MILLION) 35.77 15.06 14.00 ✓ ✓ ✓ 2.15 0.60 3.96 2016 LTI’S 15 7 1 3 3 1 77 CSR 2017 – BOSKALIS 78 CSR 2017 – BOSKALIS Appendix ‚ ‚ tothe31stofDecember2017(the“SelectedInformation”): January fortheperiod1stof includedwithinBoskalis’CSRReport information The scopeofourworkwaslimitedtoassuranceoverthefollowing Scope ofwork includedwithinthescopeofworkdescribedbelow.information ThisAssuranceStatementappliestotherelated 2017 (“theCSRReport”). indicators tobepresentedinitsCorporateSocialResponsibilityReport (Boskalis) toprovidelimitedassuranceoverselectedperformance (Bureau Veritas) wasengaged byRoyalBoskalisWestminster N.V. Bureau Veritas TheNetherlandsB.V. Inspection&Certification Introduction andobjectivesofwork To theStakeholdersofRoyalBoskalisWestminster N.V. ASSURANCE STATEMENT INDEPENDENT LIMITED ‚ Other than Audits or Reviews of Historical Financial Information (effective Other than AuditsorReviews ofHistorical FinancialInformation Assurance Engagements (ISAE)3000Revised,Assurance Engagements We Standard on ourwork inaccordancewithInternational performed Assessment Standard ‚ ‚ ‚ The responsibilitiesofBureauVeritas wereto: arethesoleresponsibilityofmanagementBoskalis. Report intheCSR The preparationandpresentationoftheSelectedInformation Responsibilities detect allerrors,omissionsormisstatementsthatmayexist. this assurance.Thisindependentstatementshouldnotberelied upon to of production measurementarrangementswhichisnotaddressed as part dataisdependentontheaccuracyofmeteringandother of thereported of CSRdataandtheassociatedlimitationsthatthisentails.The reliability This limitedassuranceengagementreliesonariskbasedselected sample futureactions. undertake or interpretativenature,ofopinion,belief,aspirationcommitmentto period,statements ofadescriptive activities outsidethedefinedreporting relatingto The scopeoftheverificationworkdidnotincludeinformation Limitations andExclusions ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ ‚ - Number ofemployeesbrokendownby: (MGO/MDO) fromthefleet; Direct greenhousegas(GHG)emissionsandfuelconsumption - - Report ourconclusionsto theBoardofManagement. Report andevidenceobtained; and performed anindependentconclusionbasedon theassuranceprocedures Form Obtain limitedassuranceoverthe SelectedInformation; Code ofConduct. Percentage ofstrategicsupplierswhohavesignedtheBoskalisSupplier Spend representedbystrategicsuppliers;and Prevention ofoccupationalandotherdiseases; Number ofLTIs andfatalities; Frequency(LTIF)Lost Time Injury andTotal Rate(TRIR); RecordableInjury Talent managementandengagement; (management, officestaff,projectcrew/yardstaff); Number oftraininghoursbrokendownbygenderandjobcategory (<30, 30-50,<50); Composition ofworkforcebrokendownbygenderandage broken downbygender; Percentage ofemployeescoveredbycollectivebargainingagreements and gender, andoutflowbyreason; Inflow andoutflowofemployeesbrokendownbyage(<30,30-50,>50) country andnumberofnationalities; country full-time)andbygender; employment type(part-time, employment contract (permanent or temporary contract)andbygender; ortemporary employment contract(permanent

1 International Federation ofInspectionAgencies –Compliance Code–ThirdEdition 1 International Bureau Veritas TheNetherlandsB.V. Inspection&Certification other BureauVeritas projectswithBoskalis. The assuranceteamforthisworkdoesnothaveanyinvolvement inany business activities. professional behaviourandhighethicalstandardsintheirday-to-day integrity, objectivity, professionalcompetenceandduecare,confidentiality, Agencies (IFIA)1,acrossthebusinesstoensurethatitsemployeesmaintain FederationofInspections meets therequirementsofInternational Bureau Veritas hasimplementedandappliesaCodeofEthics,which requirements. professional standardsandapplicablelegalregulatory and proceduresregardingcompliancewithethicalrequirements, comprehensive systemofqualitycontrolincludingdocumentedpolicies standardsandaccordinglymaintainsa with theinternational Bureau Veritas operatesaQualityManagementSystemwhichcomplies systemsandprocesses. ethical andhealthsafetyinformation, extensive experienceinconductingverificationoverenvironmental,social, accountability withover185years’history. Itsassuranceteamhas specialises inquality, environmental,health,safetyandsocial Bureau Veritas companythat isanindependentprofessionalservices Statement ofIndependence,IntegrityandCompetence is notfairlystatedinallmaterialrespects. nothing hascometoourattentionindicatethattheSelectedInformation On thebasisofourmethodologyandactivitiesdescribedabove, Conclusion 8. 7. 6. 5. 4. 3. 2. 1. ofourindependentverification,workincluded: As part ofworkperformed Summary AuditingandAssuranceStandardsBoard. the International datedonorafterDecember15,2015),issuedby for assurancereports ensure consistencywithassuredinformation. to Assessing thedisclosureandpresentationofSelectedInformation and aggregationcalculationsoftheSelectedInformation; Re-performing analyticalproceduresoftheSelectedInformation; Performing analysis; Reviewing Boskalissystemsforquantitativedataaggregationand the correspondingsourcedocumentation; to theaccuracyofaselectionSelectedInformation Confirming evidenceproducedbyBoskalis; Reviewing documentary boundaries; made, collectionprocesses,andthedatascopereporting includingassessingassumptions compile theSelectedInformation, Reviewing thedatacollectionandconsolidationprocessesusedto withrelevantpersonnelofBoskalis; Conducting interviews Amersfoort, 7March2018 Amersfoort, Sebastiaan terHorst,CERDirector Benelux&UK

CO Cash flowGroupnetprofit+ depreciationamortizationimpairmentlosses. came intoforceon8September2017. BWM ConventionBallastWaterandSedimentsadoptedbytheIMOthat development ofnatureatthesametime. and usesecosystemservicestomeetsociety’sneedforinfrastructureencouragesthe engineering conceptsforriver,coastalanddeltaareas.Itbeginswiththenaturalsystem Building withNatureInnovationprogramthatfocusesonsustainablehydraulic them andhelpprotectnaturalresources. more sustainableenvironmentsthatenhancethewell-beingofpeoplewhoworkin performing assetsacrossthebuiltenvironmentalcycle.BREEAMcertifiedbuildingsare BREAAM Leadingassessmentmethodthatrecognizesandreflectsthevalueinhigher assessments ofthesustainabilityleveltheirsuppliers. BlueScan species. fully loaded.Itcanhaveanegativeenvironmentalimpactduetothespreadofinvasive Ballast waterUsedinshipstoimprovedepth,stabilityandstrengthwhentheshipisnot GLOSSARY for privatedredging contractors. IADC (International AssociationofDredgingCompanies) Global umbrellaorganization HFO GT Grosstonnage. sediment reachesthebottommorerapidly, decreasingtheturbidityinwatercolumn. trailing suctionhopperdredgerfromexcess watercontainingfinesediment.The Green valveSystemtoexcludeairbubblesduring theoverflowfromholdofa sustainability reporting. Global ReportingInitiativeInternationalorganizationthatdevelopsglobalstandardsfor EPC Engineering,procurementandconstructionservices. and thenaturalsurroundings. assess andmeasurethesocialenvironmentaleffectsofaprojecton community Environment andSocialImpactAssessment(ESIA)Widelyusedmethodtoanalyze, Energy transitionBuildingtowardsasocietylessdependentonfossilfuels. major carbonmarket. its keytoolforreducinggreenhousegasemissionscost-effectively.Itistheworld’s first Emissions TradingSystemCornerstoneoftheEU’spolicytocombatclimatechangeand dredging companiesandrelatedorganizations. EuDA EBITDA EBIT for the benefit ofcurrentandfuturegenerations. 100,000 hectaresofnatureintheNetherlands,doingsoasalong-termcommitment Dutch SocietyforthePreservationofNatureManages, protectsandrevitalizesover without anysignificantmodificationinenginesandinfrastructures. Drop-in biofuelsProducedfrombiomassandanalternativetoexistingliquidfuels, been permanentlytakenoutofservice. Decommissioning pumped tolandthroughapressurepipeline. where thesea-orriverbedishardandcompact.Thedredgedmaterialgenerally anchors. Thistechniquecombinespowerfulcuttingwithsuctiondredging.Mainlyused Cutter suctiondredgerVesselthatdredgeswhilebeingheldinplaceusingspudsand this networkingorganization. towards corporatesocialresponsibility.Morethan200companiesareaffiliatedwith CSR NetherlandsNetworkofDutchcompanies,authoritiesandNGOsthatarestriving earth’s atmosphere. 2

Carbon dioxideisanodorlessandcolorlessgreenhousegasthatexistsinthe Earnings beforeinterestandtax. Heavy FuelOil. (European DredgingAssociation)Non-profitindustryassociationforEuropean EBIT beforedepreciation,amortizationandimpairmentlosses. Tool thatallowscompaniesthroughouttheentiremaritimesectortoexecute Dismantling and/orremovalofoilandgasrigsorvesselswhichhave

gives thisaspectof ouractivitiesafirmfootholdwithin organization. Social ImpactProgram Aimstosetoutasocial impactapproachwithinBoskalis that to dobusinesswithsupplierswhoact responsibly andwithintegrity. products andservicesanintegral partofallprocurementcontracts.Boskaliswants Supplier CodeofConductRequirementsdrawnupbyBoskalisfor itssuppliersof sustainable developmentprioritiesand aspirationsfor2030. 193 MemberStates,aswellglobal civilsociety,thegoalsdefineglobal Formulated bytheUnitedNationsthroughadeliberateprocessinvolvingits Sustainable DevelopmentGoals(SDGs)Setofseventeengoalswithspecifictargets. stuck fastandanchorswindturbinesintheseabed. pumped outofthebucket,creatingapressuredifference.Onceinplace,it becomes involves aninvertedsteelbucketthatsinksintothesandysedimentwhenwater is and lower-costsolutionsforlayingfoundationsoffshorewindfarms.The design Suction bucketjacketfoundationInnovativetechnologythatofferslowunderwaternoise Solvency Groupequityas%ofbalancesheettotal(non-currentassetspluscurrentassets). SHE-Q organization. are emissionsfromconsumptionofsourcesenergygeneratedupstream the are emissionsfromsourcesthatownedorcontrolledbytheorganization.Scope2 Scope 1and2emissionsCategoriesforreportinggreenhousegasemissions. and improvethequalityofimmediatesurroundings. higher waterlevelsandpreventflooding.Measuresarebeingtakentoprovidesafety, Room fortheRiverprogramGivesriversinNetherlandsmoreroomtomanage Return onequityNetprofitas%oftheaverageshareholders’equity. Order bookContractrevenueasyetuncompleted. Operating resultEBIT–impairmentsincludingjointventures. consistent withapplicablelawsandinternationallyrecognizedstandards. binding principlesandstandardsforresponsiblebusinessconductinaglobalcontext OECD GuidelinesforMultinationalEnterprisesRecommendationsthatprovidenon- take actiontopreventunsafesituations. The programmakespeopleawareoftheirownresponsibilityandencouragesthemto describes thesafetyconductcompanyexpectsfromitsstaffandsubcontractors. accident-free workingenvironment.NINAsetsoutBoskalis’visiononsafetyand NINA (NoInjuriesNoAccidents)Boskalissafetyprogramtoachieveanincidentand freely tradedintheglobalmarketplace. conditions causedwhenend-of-lifeshipscontainingtoxicmaterialsintheirstructureare rights organizationsworkingtopreventdangerouspollutionandunsafe NGO ShipbreakingPlatformCoalitionof19environmental,humanrightsandlabor Net Groupprofit+netattributabletonon-controllinginterests. MDO/MGO MarineDieselOil/MarineGasOil. LNG LTIF LostTimeInjuryFrequencyper200,000hoursworked. in absencefromwork. LTI LostTimeInjuryexpressesthenumberofworkplaceaccidentsseriousenoughtoresult management systems(ISO14001). Standards includequalitymanagementsystems(ISO9001)andenvironmental ISO standardStandardsissuedbytheInternationalOrganizationforStandardization. managers toimplementandmaintainasafetymanagementsystem. and thepreventionofpollutiononsea-goingvessels.TheISMCoderequiresship for PollutionPrevention:aninternationalstandardcompliancewithsafetyregulations ISM CodeInternationalSafetyManagementfortheSafeOperationsofShipsand framework forsafeandsustainableshipping. Nations. Itsprimarypurposeistodevelopandmaintainacomprehensiveregulatory IMO TheInternationalMaritimeOrganizationisaspecializedagencyoftheUnited Liquefied NaturalGas. Safety, Health,EnvironmentandQuality.

79 CSR 2017 – BOSKALIS 80 CSR 2017 – BOSKALIS Appendix consistent clientapproach. operational excellencewithaclearfocusonsafeandsustainablesolutions WoW BoskalisWayofWorking,qualitymanagementsystemthataimstoachieve personal developmentandperformance. Workday BoskalisHRinformationsystemformeasuringandevaluatingemployees’ universal sustainabilityprinciplesandtotakestepssupportUNgoals. UN GlobalCompactVoluntaryinitiativebasedonCEOcommitmentstoimplement operating companies. VCA Safety,HealthandEnvironmentChecklistforContractorsapplicabletoourDutch underwater animalandplantlife. reduces theincidenceoflightinwater.Thiscanbetemporarilydetrimentalto Turbidity Causedbychurningupthesea-orriverbedduringdredgingactivities,which treatment casesper200,000hoursworked. TRIR Economic AffairsofthecontentandqualityCSRreportsDutchcompanies. Transparency BenchmarkAnnualassessmentonbehalfoftheDutchMinistry bottom doors,byrainbowing,orpumpedontolandusingapipeline. transport materialoverlongdistances.Thedredgedisdumpedthroughflapsor centrifugal pumpsandpipesthattrailoverthebedasvesselsails.Thesevesselscan Trailing suctionhopperdredgerSelf-propelledvesselthatloadsitswellorusing Total RecordableInjuryRate.NumberofLTI’s,restrictedworkcasesandmedical COLOPHON

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