In control statement

FMO has internal risk management and control systems in place to support the attainment of objectives in the following categories:

  • Realization of strategic and business objectives;

  • Effectiveness and efficiency of processes;

  • Reliability of financial reporting and sustainability reporting; and

  • Compliance with laws and regulations.

  • The Management Board is accountable for the design, implementation and functioning of FMO’s internal risk management and control systems.

The Management Board regularly considers the design and operation of FMO’s internal risk management and control systems (taking into account the approved risk appetite) and discusses all related significant aspects with senior management. The results of the Management Board’s monitoring of FMO’s internal risk management and control system, including failings, significant changes and planned major improvements (ref. Non-financial risk section), and the defined risk appetite are discussed with FMO’s Audit & Risk Committee, which reports these to the Supervisory Board.

Based upon the assessment of the internal risk management and control systems of FMO, the Management Board states that during the year under review:

  1. The management report provides sufficient insights into any failings in the effectiveness of the internal risk management and control systems;

  2. The aforementioned systems provide reasonable assurance that the financial reporting does not contain any material inaccuracies;

  3. The aforementioned systems provide limited assurance that the sustainability reporting is free from material misstatements;

  4. The Management Board is not aware that the aforementioned systems do not provide sufficient comfort that the material operational and compliance risks faced by the company are effectively controlled in line with the risk appetite;

  5. Based on the current state of affairs, it is justified that the financial reporting is prepared on a going concern basis; and

  6. The report states those material risks and uncertainties that are relevant to the expectation of the company’s continuity for the period of twelve months after the preparation of the report.

Reference is also made to the Corporate Governance Code section in the Corporate Governance paragraph and the Risk Management section in the Annual Report for an explanation on FMO’s Risk Management Framework.

It should be noted that the above does not imply that the internal risk management and control systems provide absolute assurance to FMO as to the realization of its objectives, or that those systems can prevent or detect all misstatements, inaccuracies, errors, fraud and non-compliances with legislation, rules and regulations.

Responsibility Statement

The Management Board has committed to ensuring to the best of its ability that this report was prepared and is presented in accordance with the Integrated Reporting framework and that the integrity of all information presented can be assured. In accordance with article 5:25c sub 2 part c of the Dutch Financial Supervision Act (Wft), the Management Board states that, to the best of its knowledge:

  • The annual accounts give a true and fair view of the assets, liabilities, financial position and profits of FMO and its consolidated companies;

  • The annual report gives a true and fair view of the position on the balance sheet date and developments during the 2025 financial year of FMO and its consolidated companies; and

  • The annual report describes the material risks that FMO faces.

The Hague, March 23, 2026

Franca Vossen, Chief Risk Officer
Huib-Jan de Ruijter, Co-Chief Investment Officer
Michael Jongeneel, Chief Executive Officer, Chief Finance & Operations Officer a.i.

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