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Storing vital products with care Vopak at a glance energy to heat houses coatings Storing vital used in computer chemicals used products with care screens in headsets We store products that are vital for everyday life. The energy that allows people to cook, heat or cool their homes and commute to work. The chemicals that enable companies to manufacture millions of useful products. The edible oils to prepare food. Vopak is the world’s leading independent tank storage company and we take pride in storing vital products with care, for a growing world population. energy to charge laptops cosmetics Cover page The symbols used on the cover represent just some of the end-uses of the products we handle: polymers in clothes, energy to heat houses polymers in clothes and charge laptops, cosmetics, chemicals and coatings used in headsets and computer screens. Vopak at a glance 2020 Highlights 3 2020 Number Number Storage capacity of terminals of countries In million cbm Highlights 70 23 35.6 at year-end 2020 34.4 35.6 2019 2020 Royal Vopak is the world’s leading independent tank storage company. With over 400 years of history and a focus on sustainability, we ensure safe, Market capitalization Number of employees Total Injury Rate (TIR) clean and efficient storage and handling In EUR billions In FTE In 200,000 hours worked by own personnel and contractors of bulk liquid products and gases for our customers. By doing so, we enable the delivery of products that are vital to the 5.4 5,637 0.37 0.37 economy and the daily lives of people 17% 83% 0.34 across the globe, ranging from chemicals, 2019 2020 oils, gases and LNG to biofuels and vegoils. We are determined to develop key infrastructure solutions to facilitate the transition of the world’s changing energy FY2020 EBITDA1 FY2020 EPS1 FY2020 ROCE1 and feedstock systems. At the same time, in EUR millions in EUR -excluding exceptional items- we invest in digitalization and innovation to -excluding exceptional items- -excluding exceptional items- improve our performance and our service to our customers. Vopak is listed on Euronext 792 2.42 11.6% Amsterdam and is headquartered in Rotterdam, the Netherlands. 1 For a reconciliation between the IFRS numbers and the amounts excluding exceptional items, reference is made to note 2.2 of the financial statements. CEO statement CEO statement Purpose Business Performance Governance, risk Financial Additional Purpose Business Performance Governance, risk Financial Additional Introduction Sustainability Introduction Sustainability 4 CEO statement & strategy & market & Outlook & compliance Statements information & strategy & market & Outlook & compliance Statements information CEO statement 4 CEO statement 5 Transforming our portfolio In hydrogen, our teams are driving a range of options in become a data-driven company. The latter paves the way We delivered strongly on our strategic agenda and the our new business development funnel. We explore how for further digital innovation. Via Vopak Ventures, which consists CEO statement transformation of our portfolio. I was particularly excited to facilitate imports of green hydrogen to the Netherlands of a Digital Fund and a Sustainability Fund, we invested in about the major acquisition of three industrial terminals from and Germany, with potential supply chains originating a few promising start-ups and scale-ups, including platform Dow along the US Gulf Coast, in partnership with BlackRock. in Southern Europe, Morocco, the Middle East and technologies. As the global leader in our industry, we aim to This is the fruit of our decade-long dedication to contribute South America. We also work on infrastructure solutions contribute to enhancing port logistics and supply chains around In a challenging year, Vopak continued fulfilling its role in society by storing vital products to the long-term success of our customers. It was also to help the industry in the port of Rotterdam decarbonize the world, adding value beyond the boundaries of our own with care. We stay committed to innovation and a more sustainable world. a reward for our consistent focus on expanding our footprint through large-scale use of blue hydrogen. In Singapore, terminals and our customers’ operations. in industrial terminals, which organize product flows for we are exploring the potential of low-carbon ammonia for entire petrochemical clusters in a safe, sustainable and shipping and of flow batteries. To meet the rising demand Making a difference While the Covid-19 health crisis will hopefully subside Ensuring business continuity efficient way. of biofuels in Northwest Europe, we will expand storage We are getting ready for the world of tomorrow. We strive in 2021, its long-term effects on the global economy, the I am extremely proud of all the colleagues, contractors and in the port of Rotterdam for waste-basted renewable to live up to our purpose by focusing on delivering long-term energy transition and society at large are still to be defined. other port workers who went the extra mile to enable Vopak With the same dedication, we continued to drive the feedstocks for the production of biodiesel. value creation for society at large. By contributing to those In any case, its impact is likely to be felt throughout the to maintain business as usual in unusual circumstances. transformation of our portfolio towards lighter fuels, United Nations Strategic Development Goals where we decade. On the positive side, the pandemic led many to They are Vopak’s own heroes, working every day in spite chemicals and new energies. We made progress with our In 2021, some new energies projects should start can make a difference. By managing our environmental and rediscover the values of health and community; it also of challenging circumstances. Our strategy to be leading four LNG terminals and our LNG business development materializing. We now have a healthy funnel of new energies carbon footprint and setting targets to reduce greenhouse showed that global cooperation and concerted action are in digital, allowed us to move overnight to remote working funnel. We upgraded and expanded our chemicals terminals projects in our focus areas, and I am confident that we will gas emissions and emissions to air, water and soil. And by possible and key to address the challenges and opportunities from home where possible. Ours is a physical business, so in Rotterdam, Antwerp and Houston, while the Rotterdam continue to build upon the progress reached so far. On top continuing to promote diversity and inclusion, and care for of our time. This time calls for public parties and businesses presence at the terminals is key. With stringent measures Botlek team made improvements in managing out-of-service of that, we are building a solar park in the North of the our employees, contractors and communities. Vopak wants to join forces for a sustainable economic recovery and in place to protect their health, many colleagues continued capacity through its turnaround project. And we increased Netherlands, which will enable us to gain understanding of to be a force for good in our communities. I deeply respect climate action. their work at our terminals to ensure business continuity. the share of lighter fuels in Panama, Australia and South the field of renewable electricity as an operator and minority the efforts of all the colleagues who allow us to realize With agility and teamwork, we found ways to manage the Africa. We will stay on course in the coming years, with a investor and provide electricity to the equivalent of 8,000 that ambition. A good example are the Covid-19 donations situation effectively. Safety observation rounds continued. continued focus on the transformation of our portfolio and Dutch households. sponsored by the Vopak WeConnect Foundation, as well as “ We delivered good Thankfully, we did not record any severe personal safety through growth in industrial terminals, gas and chemicals. many other initiatives led by colleagues to help provide relief or process safety incidents. We also progressed with our Driving digital innovation in our communities. results in a more volatile sustainability ambitions. The pandemic highlighted the benefits of our digital business environment.” “ We are ready for the world transformation. It is no small achievement that our teams On behalf of the Executive Board, let me wholeheartedly It was hard work to realize our business performance plans, managed to ensure that all our systems kept running smoothly, thank our colleagues, contractors and partners for their which had appeared so realistic at the beginning of 2020. of tomorrow. We strive enabling us to maintain contacts with colleagues, customers dedication and hard work to ensure safe and uninterrupted At Vopak, we store vital products with care. Through our Nonetheless, despite significant headwinds in chemicals and many other stakeholders. Our digital modernization services in a challenging year for all of us. I also thank our Eelco Hoekstra to live up to our purpose.“ global network, we enable society to function by ensuring and in foreign exchange movements, as well as project program is moving full steam ahead. Our IT system for customers, shareholders, authorities and our communities Chairman of the access to products that meet people’s everyday needs – delays due to the pandemic, we continued to focus on customer operations interface MyService is now live at for their trust and support, which enable us to play our role Executive Board including chemicals to produce disinfectants, face masks and both short-term performance and long-term value creation. Over the past years, our activities have been moving beyond 14 locations, including Malaysia, Singapore, the United States, in society. Finally, my gratitude goes out to the health and CEO of other protective equipment. We aim to be the sustainability We worked to improve in safety and health.

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