Triodos Bank N.V. ANNUAL

Business / Consolidation

Consolidation principles The consolidated financial statements include the financial information of Triodos Bank and its subsidiaries. Subsidiaries are all entities (including structured entities) over which the Group has control. The Group controls an entity where the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. The financial information of subsidiaries is fully consolidated in the consolidated financial statements from the date that control commences until the date that control ceases. In preparing the consolidated financial statements, intercompany transactions, balances and unrealised gains on transactions between group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. The accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. List of principal consolidated entities of Triodos Bank N.V.: Legal Owner Triodos Funds B.V. in Zeist, participating interest 100%, group company, fully consolidated. Legal Owner Triodos Funds B.V. is the legal owner of Triodos Fair Share Fund and holds for the account and risk of the participants in this fund the fund assets in its name. Triodos Investment Management B.V. in Zeist, participating interest 100%, group company, fully consolidated. Triodos Bank UK Ltd in Bristol, participating interest 100%, group company, fully consolidated. Other controlled entities: Sinopel 2019 B.V. in Amsterdam, fully consolidated.