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                                        Share Structure

                                        According to the Articles of Association Royal DSM has two types of shares: one class of ordinary shares and two classes of Cumulative Preference shares, series A and B. At this time, in addition to ordinary shares, only Cumprefs A have been issued.

                                        Ordinary shares Royal DSM

                                        • issued as per 31 December 2017: 181,425,000 shares
                                        • outstanding as per 31 December 2017: 174,643,475 shares
                                        • total outstanding as per 31 December 2017: 218,683,475 shares (ordinairy & Cum Prefs)
                                        • nominal value of €1.50 per share
                                        • no certificates on these shares are issued, the voting rights are not limited
                                        • listed on the stock market at NYSE Euronext stock exchange in Amsterdam

                                        Cumulative Preference Shares A

                                        • issued and outstanding in 31 December 2017: 44.04 million shares
                                        • not listed on the stock market
                                        • owned by three Dutch institutional investors
                                        • nominal value of €1.50 per share
                                        • the dividend percentage of the Preference Shares will every year be based upon the dividend yield of the ordinary shares in the preceding year (dividend as a percentage of the average share price)
                                        • over 2016, Cumulative Preference A Shareholders received a dividend percentage of 3.26% of the issuance price of €5.2942, which equals a total dividend pay-out of €0.17 per Preference Share given the aforementioned computation basis

                                        Cumulative Preference Shares B

                                        • are not issued nor outstanding at this time
                                        • by virtue of DSM's Articles of Association, 375,000,000 cumulative preference shares B can be issued
                                        • the DSM Preference Shares Foundation has the right to acquire such preference shares (call option) to a maximum corresponding to 100% of the capital issued in any form other than preference shares B, less one
                                        • the DSM Preference Shares Foundation is independent in accordance with the requirement laid down in Appendix X to the Listing and Issuing Rules of Euronext

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