Management review and reporting

As the Executive Board, we are responsible for the Company’s strategy including its risk profile (see page 52) and for taking appropriate measures for the design and operation of the internal risk management and control systems consistent with Nutreco’s business (see page 52). These systems, which are based on the COSO internal control framework, have been designed to detect opportunities and risk on a timely basis, to manage significant risks, to facilitate the realisation of the Company’s strategic, operational and financial objectives, to safeguard the reliability of the Company’s financial reporting and to comply with applicable laws and regulations.

To fulfil our responsibilities, we systematically reviewed and, where necessary, enhanced the Company’s internal risk management and control processes with regard to its strategic, operational, compliance and financial (reporting) risks during the year 2009. The results of these reviews, including changes and planned improvements, have been discussed with the Audit Committee and the Supervisory Board.

Based on our review we are of the opinion that, with respect to the financial reporting risks, the risk management and internal control systems have adequately performed during the year 2009 and provide a reasonable degree of certainty that the 2009 financial reporting of Nutreco contains no inaccuracies of material importance.

In addition we declare, based on article 5.25c Wet op het financieel toezicht (Wft), that to the best of our knowledge and in accordance with the applicable reporting principles:

• the consolidated financial statements of 2009 give a true and fair view of the assets, liabilities, the financial position and the profit and loss of Nutreco and its consolidated operations; and
• the management report includes a fair review of the position as per 31 December 2009 and of the development and performance during 2009 of Nutreco and its related participations of which the data have been included in the financial statements, together with a description of the relevant risks of which the Nutreco group is being confronted.

Amersfoort, 1 March 2010

W. Dekker, CEO
C.J.M. van Rijn, CFO
K. Nesse, EVP Aquaculture
F.J. Tielens, EVP Specialties
J.A. Vergeer, EVP Agriculture