S1 Own Workforce

S1 Introduction

FMO will continue its commitment to further increase its impact in the coming years. In addition to the total number of employees, different skillsets will need to be developed to meet changing requirements in respect of impact & ESG themes, regulations and stakeholder expectations, as well as our strategic ambitions. FMO is actively cultivating a culture that values diversity, quality, integrity, and making a positive impact on society. We have an ambitious strategy towards 2030 and recognize the role of culture in long-term value creation. FMO is committed to fostering a work environment that prioritizes the wellbeing and development of its workforce and enabling a healthy and inspiring working environment. FMO provides equal treatment and opportunities for all and strives to create a workplace where everyone can thrive.

In terms of FMO’s commitment to corporate culture, we comply with the Dutch Labor Law and Collective Labor Agreement (CLA Banks) to ensure employee rights and wellbeing are fully incorporated. Comprehensive onboarding and training programs give employees an understanding of FMO’s vision, strategy, and human rights fundamentals.

FMO’s strategy integrates the interests, views, and rights of its workforce through a strong commitment to human rights, and embedded impact management framework following international standards like the UNGPs and OECD Guidelines to guide its human rights practices and sustainability policy with a focus on investments and customers, but also with respect to our own organization. This approach ensures that the rights, including labor rights, of people within FMO are respected and upheld.

This sustainability statement describes FMO’s guidelines, processes, actions, metrics, and targets related to employees and non-employees, enabling the readers to understand its strategy, approach, processes, procedures, and performance in this area. FMO employees are individuals with an employment contract with FMO or a regional office subsidiary, whether for a definite or indefinite period. This includes the regional offices in South Africa, Kenya (branches), and Costa Rica (subsidiary). Non-employees include a variety of individuals such as contractors (including self-employed persons), consultants and secondees. Third Party contractors (security, catering, and cleaning) and Interns are excluded. All FMO employees and non-employees who can be materially impacted are included under this statement.

S1 Impacts, risks and opportunities

We identified the following impacts, risks, and opportunities (IROs) during the double materiality assessment (DMA).

Table 26. IROs and Policies and Actions and Targets

Following the DMA there are no material impacts resulting from climate transition plans of FMO. Employees traveling to (remotely located) projects and/or clients are those that are identified as groups of workers in particular risk of harm. As FMO relies on its people being actively present in developing countries, the associated risks stem from this dependency. All other material risks and opportunities arising from our workforce’s impacts and dependencies pertain to the entire workforce.

S1-1 Policies

FMO employees in the Netherlands fall under the Dutch Labor Law and the Collective Labor Agreement (CLA Banks), and FMO employees in our regional offices fall under the local labor laws. FMO does not have employee-specific policies, and to address material sustainability-related impacts, risks and opportunities for our employees, FMO has developed several procedures and guidelines, such as the FMO Personnel Guide, which are in line with the Dutch Labor Law and CLA Banks.

Our procedures focus on objectives that cultivate diversity, quality, integrity, and a positive societal impact. Furthermore, where we have caused or contributed to a negative impact on our own workforce, we have procedures in place to raise complaints or grievances. The main procedures are outlined below.

Working conditions

FMO aims to foster a workplace environment that prioritizes the health, safety and well-being of our people (including the availability of grievance procedures, investment in health and wellbeing initiatives, investing in learning and development to maintain positive working conditions). This empowers employees to reach their full potential and make meaningful contributions through their work. This includes providing career advancement opportunities, a diverse array of professional development courses and training programs, as well as access to preventive health consultations aimed at promoting a healthy and sustainable work-life balance.

Our Code of Conduct outlines the guidelines that govern our workforce. These guidelines establish the common standards of behavior we expect in our professional activities. By implementing these guidelines, we aim to develop our people’s skills, knowledge, and experience.

Health, safety and wellbeing

Preventative measures

We recognize that actively managing health and wellbeing is more effective than managing the outcomes of illness and injury. In line with the CLA Banks and the FMO Personnel Guide, procedures are set in place to ensure the health, safety and wellbeing of everyone working at FMO. Our prevention procedures include working with a healthcare provider to support FMO and employees on prevention and management of absenteeism, having first aid kits available on every floor within the office and providing preventive medical checks relevant to the work undertaken for FMO, a company emergency response team (CERT), computer glasses, and vaccination for business travel.

Emergency situations and procedures

FMO has processes in place in preparation for any emergencies such as accidents, dealing with a bomb threat, and fire evacuation processes. In addition, any issues or hazards are to be reported to facility services.

Health, sick leave and reintegration

FMO implements various strategies to support the creation of a healthy work environment and to prevent and manage absenteeism. We provide a range of physical, mental and social well-being initiatives, like home office equipment and ergonomic work stations, sports events and preventative individual psychological support, as well as multiple social events for FMO communities, teams, departments and the entire organization. Additionally, there are processes in place for supporting difficult or sensitive conversations and handling sick leave. For reintegration, FMO has established clear roles and responsibilities, along with timelines for managing illness and reintegration as outlined in the FMO sickness absence protocol. These are set up in accordance with the applicable regulations and business standards.

Purposeful work

FMO is dedicated to creating a positive impact for its workforce by aligning employee roles with our core mission. This alignment fosters a sense of purpose and fulfillment, making FMO an attractive place to work and helping to retain and attract top talent. Our Values in Action program supports this by reinforcing our mission and integrating our core values into staff behavior, cultivating a corporate culture that resonates with our people. According to the EVP Mercer survey, our mission consistently ranks highest among factors that draw individuals to FMO.

Our employees find immense meaning in their work by contributing to projects in developing countries, where they can witness firsthand the transformative impact of their efforts. This commitment extends beyond those who travel for projects, encompassing all employees who contribute to our collective goals. By providing meaningful work and a values-driven environment, we have people who remain engaged and motivated, ultimately driving the success of FMO.

Learning and development

FMO is committed to developing its workforce to enhance skills, knowledge, and expertise, which will contribute to market and product creation, as well as investments in transition technologies. The FMO Academy offers a variety of training programs on a number of personal and technical topics that enable the development of our employees in line with their ambitions and role. Additionally, development opportunities are available in the form of other activities, such as the attendance at professional conferences and secondments between FMO and other DFIs.

Travel safety

As a DFI we know that our employees may be at greater risk of harm during site visits or engagements with customers in the countries where we operate. FMO manages safety and resilience for high-risk engagements by setting a safe travel procedure for travelers to high-risk areas. This includes restricting travel to high-risk countries and areas using the color coding of the Dutch Ministry of Foreign Affairs. In addition, frequent travelers are equipped with information, tools, and training, such as a mandatory one-day travel safety training, and specific travel-related risks are covered through insurances.

Diversity, Equity, Inclusion and Belonging

Equal treatment and opportunities

FMO is committed to being a diverse and inclusive employer and is an advocate of equal opportunities. We strive for diversity at all levels of our organization and do our utmost to create an inclusive work culture for our people. This includes striving for diversity based on gender, gender identity and sexual orientation, culture (topics around ethnicity and race), and age. Our diversity and inclusion statement outlines a clear commitment to an inclusive and diverse society. In addition, FMO has signed the diversity charter of SER to promote the application of the principles of equal opportunities at all levels.

Undesirable behavior including discrimination

FMO will not tolerate discrimination, harassment, bullying or any other form of undesirable behavior. In situations where an employee experienced undesirable behavior, they can file a complaint with the external confidentiality counselor. If an employee feels they are treated differently or unfair compared to the way another employee is or would be treated in a similar situation, individuals may file a complaint that will be processed by the internal Grievance Advisory Committee. FMO takes all complaints and grievances seriously and aims to ensure that any complaint or grievance is discussed at the earliest possible stage, so that it can be addressed at the earliest opportunity and resolved as soon as possible. This treatment may be either direct or indirect, on the basis of the following topics: religion, ethical belief, life conviction, political affiliation, race, gender, nationality, sexual orientation, civil status, age, disability or chronic illness, and/or where an apparently neutral stipulation, benchmark or action specifically affects people of a particular religion, ethical belief, life conviction, political affiliation, race, gender, nationality, civil status, age or sexual orientation or with a disability or chronic illness.

Gender distribution and Diversity, Equity and Inclusion

FMO strives for an equal gender distribution at the organizational and department level. FMO aspires to become one of the leading organizations in the Netherlands, as well as among DFIs, when it comes to diversity, equity and inclusion. As part of this commitment, we consider gender and other diversity-related factors, like age and cultural background for all positions (including management roles) important selection criteria.

Communities within FMO

FMO has various employee communities through which employees can express themselves. These are to be included in the DEIB policy, which is expected to be in place in 2025. Below is an overview of these FMO’s internal communities and networks.

BYOU is FMO's informal network supporting LGBTIQ+ rights. The objective of this network is to make a call for action to LGBTIQ+ and non-LGBTIQ+ employees to promote LGBTIQ+ inclusion at all levels within FMO, and to raise awareness and emphasize FMO's position that a violation of LGBTIQ+ rights is a violation of human rights.

FMO Femmes is an informal internal network aimed to facilitate connection, sharing, and inspiration for both women and men. The network’s focus is on empowering women through advancing career development, enhancing self-leadership, and ensuring they have the support and resources to excel. By cultivating a culture where women feel valued and recognized, FMO Femmes actively contribute to creating an environment where women thrive, positively influencing the success of our clients as well as that of FMO.

Young FMO is an informal network of FMO employees that are under the age 35. Through organizing networking, content related and just fun events both within FMO and with other financial institutions, Young FMO aims to connect young employees to as many like-minded peers as possible.

S1-2 Processes for engaging with own workers and workers’ representatives about impacts

FMO engages with its employees through the regular operational structure (bilateral meetings and team/ department/ staff meetings) and the works council which ultimately represents the full workforce. The works council frequently interacts with senior management and employees about a variety of workplace and people related topics, such as work conditions, benefits, leadership, efficiency and company culture. Employees are furthermore engaged and asked for feedback through a bi-annual (engagement) survey and shorter interim pulse surveys to gauge employee perspective and make informed decisions on the actions that will impact on our own workforce. The results of these surveys used to assess the effectiveness of the engagement with employees. This survey is managed by the HR department on behalf of the Management Board/senior management. In addition, pulse surveys are run related to various specific topics, like corporate values, leadership, undesired behavior and the Employee Net Promoter Score (see 'S1 Entity specific metrics').

All managers, directors and management board members (collectively referred to as ELT: Extended Leadership Team) and therefore, ultimately the CEO - are responsible for employee engagement within the processes and progress towards the IROs. The S1 sustainability statement is governed by HR ensuring the implementation of guidelines, procedures, and action plans, as well as the monitoring of metrics and targets. FMO operates mainly in the Netherlands, therefore it has not signed the Global Framework Agreement. FMO recognizes its responsibility to respect human rights and is committed to acting consistently with the International Bill of Human Rights; the International Labor Organization Declaration on Fundamental Principles and Rights at Work; the OECD Guidelines on Multinational Enterprises and the United Nations Guiding Principles on Business and Human Rights (UNGPs).

S1-3 Processes to remediate negative impacts and channels for own workers to raise concerns

Raising a complaint, a grievance, reporting an irregularity or a risk event

FMO has established processes for raising concerns, complaints, and grievances. These include procedures for filing complaints, grievances, and reporting irregularities or risk events. Employees can file a complaint if they experience undesired behavior such as (sexual) harassment, intimidation, bullying, or discrimination. These complaints can be raised informally with (their) management, and, if desired, with the support from internal confidential advisors. Alternatively, employees can file a complaint with an external specialized confidentiality advisor. Furthermore, if an employee feels they are being treated unfairly, they can file a formal internal grievance.

Both formal and informal procedures for submitting complaints or grievances are detailed in the Personnel Guide. FMO has an internal Grievance Advisory Committee to assist in investigations and to advise senior management on the follow-up. If a complaint is not resolved through the internal processes, employees may also file a complaint with an external specialized consultant.

To report an irregularity, FMO provides a procedure that allows our workforce and third parties to report issues anonymously. The procedures for reporting suspicions are outlined in the Speak Up Policy, which is available to employees, non-employees, and third parties. For more information, refer to the Speak Up Policy and Procedure that is available on the FMO website and is also described in 'G1 Business Conduct'.

The Director HR is responsible for ensuring the Complaints and grievances processes are reviewed periodically and communicated, and ensures training is available for managers and employees. Thereby FMO ensures that our people are aware of and trust these structures as a safe and efficient manner to raise concerns. FMO ensures protection against retaliation for all individuals using these channels, as detailed in the Personnel Guide and Speak Up policy.

S1-4 Key actions

FMO sets out clear actions to pursue positive impacts and opportunities and remedy negative impact and manage risks. These are identified and conceptualized based on internal strategy and in pursue of a positive impact on our workforce or in response to negative impacts identified through the DMA process. The key actions are outlined below. It is important to note that not all identified IROs are currently addressed within the planned actions.

Employee value proposition

One of our main actions is to review and enhance the employee value proposition (EVP) for FMO’s employees, supporting our goal of being an employer of choice. This initiative aims to attract and retain employees by creating more flexibility and, where possible, aligning our offerings better with FMO’s strategic goals, ultimately achieving a positive impact on working conditions.

The effectiveness of this action is tracked and assessed by feedback from employees to management HR and/or the works council (employee representation).

Quality of interaction (Values in Action)

FMO has implemented a Values in Action program to ensure a positive impact on the working conditions of its workforce and integrate FMO’s core values into staff behavior. This initiative, which is designed to enhance corporate culture, is further detailed in 'G1 Business Conduct' (see 'G1 Key actions').

The effectiveness of this action is tracked and assessed by conversations between employees and management as well as during bi-annual engagement surveys.

HR Connect

The main objective of HR Connect is to implement an integrated Human Capital Management System (HCMS) that will improve processes and enhance our workforce’s user experience. HR Connect will help us strengthen business continuity, and enable data-driven decision-making around HR topics, including talent acquisition, ultimately creating a more efficient work environment.

The effectiveness of this action is tracked and assessed by reduced (manual) administration, human errors and shorter throughput times.

Diversity, equity, inclusion and belonging (DEIB) action plan

To implement the DEIB action plan in line with FMO’s D&I statement and the Diversity Charter in Bedrijf of SER, we will conduct regular surveys, provide training, and promote flexible work arrangements to meet legal and societal expectations. Additionally, we will support employee expression through diversity days. This initiative aims to positively impact the working conditions and overall well-being of our workforce and address the material risk of not providing sufficient working conditions and an inclusive work environment that was identified during the DMA.

The effectiveness of this action is tracked and assessed by employee and candidate feedback as well as via engagement surveys.

Mitigation of undesirable behavior and discrimination

FMO will not tolerate discrimination, harassment, bullying or any other form of undesirable behavior. In situations where an employee is treated differently from the way another employee is or would be treated in a similar situation individuals may file a complaint which will be processed with two internal confidentiality counselors. All leaders work together to discuss this to mitigate undesirable behavior. The Management Board and HR measure progress, check data and provide guidelines.

Mitigation of the potential negative impact due to an adverse event during site visits

To minimize potential negative impacts from adverse events during site visits, FMO implements measures to identify risks before employees travel to customers or projects. FMO also prepares its employees through regular mandatory training. Employees are encouraged to avoid unnecessary risks and seek advice when needed. Before traveling, all employees must obtain an FMO emergency pass and activate the BCM app to receive and communicate necessary information. They must also register on the AIG Travel Guard website. Prior to booking a trip, employees should check non-travel destinations and gather safety information from FMO colleagues, the AIG Travel Guard website, and the Dutch Ministry of Foreign Affairs website. In the event of an adverse situation, the FMO travel crisis team, which handles crises in foreign countries, collaborates with AIG Travel Guard to mitigate any adverse effects. Employees are provided with emergency contact numbers for both AIG Travel Guard and the FMO travel crisis team.

Table 27. Minimum Disclosure Requirements for Actions

S1-5 Targets

The targets in this section were established by HR representatives, taking into account the significant impacts, risks, and opportunities related to our workforce, as well as the disclosure requirements outlined in S1. Additionally, we assessed the Employee Net Promoter Score (see 'S1 Entity specific metrics') concerning key topics. Workforce representatives, such as the HR representatives and the Work council are engaged with setting up and tracking the below targets.

Gender distribution

FMO aims to be a diverse and inclusive employer, promoting diversity across gender, identity, culture, age, and disability. This also accounts for those that may not identify strictly as male or female. We strive for equal gender distribution, particularly in management roles (Managers, Directors, Board members), and we aim to have gender balance within FMO (approximately 50-50) in 2025 and any upcoming years using the baseline year 2022. By considering diversity factors in all recruitment processes and addressing the gender pay gap, we foster an inclusive culture that enhances decision making, creativity, and innovation. This commitment aligns with our core values, helping us attract and retain top talent, ultimately benefiting our employees, stakeholders, and customers.

FMO promotes diversity across all levels, and we aim for well-balanced Supervisory and Management Boards boards by considering members' different perspectives, backgrounds, and experiences. In line with the Act on Gender Balance (‘Wet Ingroeiquotum, 2021) in Management and Supervisory Boards and our internal Diversity Charter, we aim for at least one third of our board members to be men and one third to be women (with ultimate ambition of 40 percent and even most ideally 50 percent of the underrepresented).

As of 2023, our Supervisory Board, consisting of six members, had two women (40 percent) and three men (60 percent) and one vacancy. In 2024 the vacancy was filled by a woman, resulting in a 50/50 gender balance in the Supervisory Board. Our Management Board, with five members, included two women (40 percent) and three men (60 percent), featuring diverse nationalities and well-distributed ages. When vacancies arise, the Selection, Appointment and Remuneration Committee ensures consideration of gender requirements, fit and proper criteria, and the necessary expertise in development banking, as outlined in our Profile and Standing Rules.

Table 28. Minimum Disclosure Requirements for Targets

S1-6 Characteristics of FMO’s employees

FMO employees are individuals with an employment contract with FMO NV or a regional office subsidiary, whether for a definite or indefinite period. This includes the regional offices in South Africa, Kenya, and Costa Rica. All regional offices are included in any following metrics, except those that require specification based on the inclusion of EEA countries or as stated otherwise.

Employee data is entered into our Human Capital Management System (HCMS) by FMO’s HR services. FMO compiles employee analytics to report on HR statistics and diversity metrics to the Management Board each quarter.

Employee numbers are reported at the end of each reporting period, quarterly, and annually for 31 December 2024. Employee numbers are reported as head count unless otherwise stated.

Table 29. FMO Employee* head count by gender 31 December 2024

Table 30. Employee head count by country 31 December 2024

Table 31. Employee head count by contract type 31 December 2024

FMO employee turnover is reported at the end of each reporting period, quarterly, and annually for 31 December 2024. The headcount of employees reported in this metric are those counted on 31 December 2024. Employee numbers are reported as head count. Employees leaving on 31 December 2024 are included within the period as head count and are counted as turnover in 2025.

Table 32. Employee turnover 31 December 2024

Average employee headcount in 2024 was 844 based on headcount at the end of each quarter. The FMO employee turnover rate in 2024 (leavers (69)/average headcount (844)) was 8.18 percent.

A cross-reference of the information reported in this section can be found in table 29 'Staff costs' in the section 'Notes to the consolidated statement of profit or loss' in the 'Consolidated Financial Statements' chapter.

S1-7 Characteristics of non-employee workers in FMO’s own workforce

Non-employees include a variety of individuals such as contractors (including self-employed persons), consultants and secondees. Third Party contractors (security, catering, and cleaning) and Interns are excluded.

FMO compiles non-employee analytics quarterly from ADP Workforce (HCMS) to report on HR statistics. This data is checked and presented to the Management Board each quarter.

Non-employee numbers are reported at the end of each reporting period, quarterly, and annually for 31 December 2024. Non-employee numbers are reported as head count unless otherwise stated.

Non-employees make up 17.8 percent of FMO’s own workforce. On average, there were 170 (headcount) non-employees at FMO during the reporting period.

Table 33. Characteristics of non-employee workers in FMO’s own workforce

S1-8 Collective bargaining coverage and social dialogue

In the Netherlands, all employees (100 percent) are covered by collective bargaining agreements and represented by a Work council reflective of the workforce. Outside of the European Economic Area, no employees (0 percent) are covered by bargaining agreements. There is no agreement with employees for representation by European Works Council (EWC), Societas Europaea (SE) Works Council, or Societas Cooperativa Europaea (SCE) Works Council as within Europe FMO only operates in the Netherlands.

Table 34. Collective bargaining coverage and social dialogue

S1-9 Diversity metrics

FMO defines senior management (Senior Leadership Team, SLT) as members of the Management Board and Directors. The Extended Leadership Team (ELT) includes also the Managers. Below, you will find FMO's diversity metrics, categorized by management division and gender.

Table 35. Management by gender 31 December 2024

Table 36. Employee age distribution 31 December 2024

S1-10 Adequate wages

As a DFI we strive to stay competitive with our compensation and benefits package and be at least comparable with the median standards of our reference market, being the Dutch financial industry. All employees of FMO, including those working outside of the Netherlands, are paid an adequate wage, in line with applicable benchmarks.

S1-11 Social protection

At FMO, all employees (including those outside of the Netherlands) are protected against loss of income due to sickness, unemployment, injury, and acquired disability through public programs or offered benefits. In the Netherlands, employees are partially covered for parental leave under the Dutch social security system and CLA, and for retirement under the AOW. There are no employees in the Netherlands who lack social protection for sickness, unemployment, injury, disability, maternity leave, or retirement. We are currently investigating the status of social protection in our regional offices and expect to report on social protection in regional offices next year. All non-employees in the Netherlands are also covered under the Dutch social security system, which can be supplemented by individual arrangements for sickness, disability, unemployment and retirement.

S1-13 Training and skills development metrics

Career and Performance Management at FMO aims to foster the development of high performing teams to ensure that the right talent is in the right role, at the right time, delivering the optimal performance by enabling our employees to perform, develop and make an impact. FMO aims to provide a supportive environment where feedback is regular through bilateral conversations, is open, and based on trust, providing clarity on expectations and transparency around employee potential and future development opportunities.

All employees participate in the annual appraisal process including goal setting, mid-year, and end-year reviews, except those who join FMO on or after 1 September each year. Employees must have been in their role for at least four months to be appraised and if absent due to illness or for other reasons for longer than eight months, they are not appraised. In 2024, 796 annual appraisals (out of 866 employees, including local offices) were completed (92 percent).

Below is an overview of the distribution of employee training and skills development. The average hours per person represent the total average time spent on training, though individual attendance may cause slight variations.

Table 37. Employee training and skills development distribution 31 December 2024

S1-14 Health and safety metrics

The Dutch Working Conditions Act provides the basis for a sound, healthy, and safe work environment. It applies to all employers and employees in The Netherlands. Based on these legal requirements all employees employed by FMO in the Netherlands (100 percent) are part of this system. The employees in the regional offices, as well as our non-employees, are not covered by this system. No work-related fatalities or injuries were registered in 2024. Additionally, due to employee privacy and confidentiality regarding illness cases, FMO does not maintain records of ill health attributed to work conditions. Consequently, we do not have records of days lost due to work-related injuries, fatalities from workrelated accidents, or work-related ill mental health even if we have been notified voluntarily by the person concerned.

S1-15 Work-life balance metrics

At FMO, all employees (100 percent) are entitled to family-related leave in accordance with the respective laws and regulations, the FMO Personnel Guide and/ or collective bargaining agreements (in the Netherlands). Non-employees are not included in this metric.

Table 38. Family related leave

Family related leave includes the following categories: Maternity, Birth, Full-time Parental, Bereavement, and Short-term care leave.

S1-16 Compensation metrics (pay gap and total compensation)

FMO conducts periodically - at least once a year - quantitative research to compare men’s and women’s salaries.

The uncorrected gender pay gap based on gross hourly pay levels of all female and male employees is 16.4 percent (reference date 31 December 2024).

Additionally, FMO performs an analysis to determine the corrected gender pay gap. The corrected gender pay gap is determined using the Oaxaca-Blinder decomposition and corrects for variables like salary grade, age, type of work and tenure to have a fair comparison. The analysis has been performed by an external consultant. The outcome of this analysis for the base salary as well as for the total cash income (base salary and variable income) showed a gap of 1.4 percent in male’s advantage (reference date 1 April 2024). The analysis also resulted in a statistically significant difference, which means that men and women at FMO at the reference date were not awarded the same for equal work (same salary bands). In the gender pay gap analysis of April 2024 the local office employees (six employees at the time of the survey) were not included, which was less than one percent of the total workforce.

Compared to the Dutch corporate sector and the Dutch government, the corrected gender pay gap at FMO is smaller. Data published by Statistics Netherlands (CBS) shows on average a corrected gender paygap in the private sector in the Netherlands of approx. 6,9 percent and approx. 1.8 percent in the government. (Source: ‘Monitor Loonverschillen mannen vrouwen’, 2022.)

The pay ratio compares the total remuneration of the CEO, the highest-paid individual, with the median of the total salary of all other FMO employees. At FMO, efforts are made to maintain a moderate pay ratio. The CEO's salary does not fluctuate as it lacks variable elements. The rest of the staff, with exception of the senior management, is eligible for individual discretionary bonuses. The total amount of individual bonuses is less than 1 percent of the sum of all total fixed annual remuneration.

In 2024, the methodology for calculating the ratio was revised to include employees in the regional offices. Additionally, to determine the median total salary of all other employees, the median of the total fixed remuneration was utilized and converted into a total annual remuneration amount. This adjustment was necessary because not all required reports were available at the time of calculating the median of the total remuneration of the entire employee population. We aim to align the methodology with the applicable regulatory requirements.

The pay ratio between the median annual employee remuneration (including employees working outside the Netherlands) and the total annual remuneration of the CEO in 2024 was 3.5. In 2023, this ratio was also 3.5 (which was based on the median of the fixed salary of all FMO employees in the Netherlands).

S1-17 Incidents, complaints and severe human rights impacts

In 2024, no instances of discrimination, including harassment, that resulted in formal complaints or grievances were reported.

During the same reporting period, one employee filed three grievances with the internal Grievance Advisory Committee (GAC), which were considered admissible. After further investigation, all complaints were resolved.

Additionally, in 2024, our external confidentiality agency regarding undesired behavior received one complaint, which was declared inadmissible by the complaints committee.

S1 FMO entity specific metrics

Employee engagement score and employee Net Promoter score

In 2023, an employee engagement survey gauged the experience of our employees and obtained feedback on inclusion, team leadership, engagement, psychological safety and employership. The average employee engagement score was 7.5 (2022: 7.3). In 2023 we decided to reduce the frequency of the employee engagement survey to once every two years. The next employee engagement will be assessed again in 2025.

In 2024, a follow-up pulse survey was conducted regarding psychological safety and work atmosphere, with follow-up sessions with teams as needed or desired. The pulse survey also focused on the employee-Net Promoter Score(eNPS), showing that the outcome was a further improvement in the employee-NPS score to 21 (2023: 15). The eNPS indicates the extent to which employees are willing to name FMO as an ‘employer of choice’.

Table 39. Minimum disclosure requirements for metrics: Employee engagement score

Table 40. Minimum disclosure requirements for metrics: employee Net promoter score (eNPS)