Responsibility statement under the Code

The Code requires the Board of Management to provide a description of PostNL’s main risks in relation to its risk appetite. Such risks may include strategic, operational, compliance, financial reporting and sustainability reporting risks. These risks and the relation to PostNL’s risk appetite are included in the chapter ‘Risk and opportunity management’. The Board of Management confirms that it is responsible for PostNL’s risk management and internal control systems and has reviewed the effectiveness of these systems for the year ended 31 December 2024.

The outcome of these reviews and the analysis has been shared with the Audit Committee and the Supervisory Board and has been discussed with PostNL’s external auditor.

This approach also applies to any material failings identified in PostNL’s risk management and internal control systems and of material changes or improvement implemented in such systems, each if applicable. PostNL continued to implement material organisational and IT changes and improvements. In 2024, our efforts were concentrated on implementing the requirements of the Corporate Sustainability Reporting Directive (CSRD). We also focused on the implementation of the SAP S/4HANA enterprise resource planning system.

No material failings in PostNL’s risk management and internal control systems were reported apart from those outlined in the chapters on Risk and opportunity management and Regulatory developments and provided for external conditions that can reasonably be expected to have an impact on a company’s results. In light of this, the results of PostNL may be influenced by material changes in external conditions, such as macroeconomic developments, regulatory changes, or shifts in market demand. In certain instances, risks that exceed PostNL’s risk appetite may arise due to these external conditions. When such risks are beyond our influence in the short term, PostNL may tolerate them as part of its ongoing adaptation to the current global environment.

Based on the outcome of the PostNL specific approach to risk management and internal control systems as outlined in the chapters Risk and opportunity management and Regulatory developments, the Board of Management believes, to the best of its knowledge, that PostNL’s internal control over financial reporting worked effectively over the year ended 31 December 2024 and provides reasonable assurance that the financial reporting is free from material inaccuracies or misstatements.

Additionally, the Board of Management is of the view that considering the annually updated strategic plan and forecasts, in the current situation, it is justified that PostNL’s financial reporting has been prepared on a going concern basis and that it states those material risks and uncertainties that are relevant for the expectation of PostNL’s continuity for the period of twelve months after the preparation of the report. The above, however, does not imply that PostNL can provide certainty as to the realisation of strategic business and financial objectives. Nor can PostNL’s approach to internal control over financial reporting be expected to prevent or detect all misstatements, errors, fraud or violation of laws or regulations.

In view of the above and based on the outline of the main risks and risk responses described in the chapter 'Risk and opportunity management’, the Board of Management believes it complies with provisions 1.4.2. and 1.4.3. of the Code.