Report by the Supervisory Board

Activities

The Supervisory Board met on six occasions in 2008. The subjects discussed by the Supervisory Board and the Board of Management included various strategic developments, investments and the progress of national and international projects.

The subjects discussed by the Supervisory Board included:

• the TenneT Group's annual plan 2009-2011;    
• annual accounts, appropriation of profits;    
• transfer of responsibility for the management of the 110 kV and 150 kV transmission grids to TenneT with effect from 1 January 2008 and acquisition of the transmission grids;    
• Method Decision for the fourth regulatory period (2008-2010);    
• current status of NorNed project;    
• connection problems and congestion management system;    
• current status of investment projects;    
• vision for 2030;    
• NorNed and CWE market coupling;    
• planned electricity cable to Denmark;    
• new head office in Arnhem;    
• the company's strategy and risk profile;    
• acquisition of Telfort Masten B.V. by NOVEC B.V., and merger of these two companies;    
• the performance of the Supervisory Board and the Board of Management.

Several of these subjects were discussed extensively with the General Meeting of Shareholders.