Shares owned by the Supervisory Board and by the Executive Board

Members of the Executive Board are shareholders of the Company.

Freely available shares
Of the members of the Executive Board, as at 31 December 2009, Mr C.J.M. van Rijn only held 427 ordinary shares (2008: 141 shares). No restrictions apply to these shares. Following the departure of  Mr J.B. Steinemann on 30 June 2009, shares held by  Mr J.B. Steinemann, whether restricted or freely available, are no longer reported as per 31 December 2009.

Shares resulting from the 2004 and 2005 LTI programmes for which a lockup restriction applies
The CEO and the CFO held 64,165 shares resulting from the long-term incentive programmes 2004 and 2005, for which a lockup restriction applies until 2011. From these shares 38,500 shares (2008: 38,500 shares) were held by Mr W. Dekker and 25,665 shares (2008: 25,665 shares) by Mr C.J.M. van Rijn. The dividend to these shares is freely available.

Shares resulting from the 2006 LTI programme for which a lockup restriction applies
In addition, the CEO and the CFO held 29,501 shares resulting from the long-term incentive programme 2006, for which a five-year lockup restriction applies until 2013. From these shares 20,166 shares were held by Mr W. Dekker and 9,335 shares by Mr C.J.M. van Rijn. The dividend to these shares is freely available. Furthermore, Mr C.J.M. van Rijn held 191 shares resulting from the employee share participation scheme.

Unvested shares granted under the 2007, 2008 and 2009 LTI programmes
The Executive Board members have also been conditionally granted 165,838 performance shares under the 2007, 2008 and 2009 long-term incentive programmes, of which 72,643 performance shares were held by Mr W. Dekker, 50,495 performance shares by Mr. J.B. Steinemann, 50,495 performance shares by Mr C.J.M. van Rijn, 16,700 performance shares by Mr K. Nesse, 9,300 performance shares by Mr F.J. Tielens and 16,700 performance shares by Mr J.A. Vergeer.

Shares held by members of the Supervisory Board
One Supervisory Board member, Mr Y. Barbieux, invested privately in Nutreco shares and held 504 ordinary shares (2008: 466 shares).

For the movement in stock options and performance shares held by the Executive Board and other managerial staff, please refer to pages 138-139 of the consolidated financial statements.

Since  Mr J.B. Steinemann is no longer a member of the Executive Board, the lockup restriction on the shares which he owned as at 31 December 2008 no longer applies and have become freely available. The shares which were conditionally granted to Mr J.B. Steinemann under the 2007, 2008 and 2009 plans will vest on a pro-rata basis as well as the TSR position of the Company compared to the peer group.

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