1. Introduction

Each year the Remuneration Report is drawn up by the Remuneration and Appointments Committee, approved by the Supervisory Board and discussed at the General Meeting of Shareholders.

The Remuneration Report sets out the substance of the remuneration policy for the Board of Management (registered directors) and the Supervisory Board of TenneT Holding B.V. as approved by the shareholder, represented by the Ministry of Finance. The Remuneration Report shows which salary adjustments occurred in the previous year for the members of the Board of Management (registered directors), the extent of attainment of the previous year’s targets and the resulting awards of variable remuneration. The report also specifies the remuneration received by the members of the Supervisory Board.

On 18 April 2008, the Supervisory Board approved the Remuneration and Appointments Committee’s proposal for adjustments to fixed salary in accordance with the company’s remuneration policy. The variable remuneration over 2008 was approved at the Supervisory Board meeting held on 29 January 2009.