Glossary

[Dutch] Corporate Governance Code The Corporate Governance Code applies to all companies with a registered office in the Netherlands, whose shares or depositary receipts thereof are admitted to trading on a regulated market or multilateral trading facility within the EU, or a comparable market or trading facility outside the EU.
Additives Ingredients that are added to feed to improve the feed, for instance with respect to shelf life, taste, odour or nutritional value.
AGM Annual General Meeting of Shareholders.
Agrifirm Dutch cooperative of farmers and horticulturists with subsidiaries in multiple countries in and outside Europe. Strategic partner of ForFarmers for the purchase of fertilisers, seeds and crop protection products in NL.
AMR Anti Microbial Resistance.
AMX The AMX Index (short for Amsterdam Mid Cap Index) is a stock market index composed of Dutch companies, ranking 26-50 in size, which trade on the Euronext Amsterdam stock exchange.
Apollo Feed concept for broilers.
AScX Index The AScX Index (short for Amsterdam Small Cap Index) is a stock market index composed of Dutch companies, ranking 51–75 in size, which trade on the Euronext Amsterdam stock exchange.
Bedding products Products such as chopped straw, flax or wood shavings that are used as bedding in barns.
Better Life concept Quality label developed by 'Dierenbescherming' (The Dutch Society for the Protection of Animals) in the Netherlands for products that are produced with extra care for animal welfare. The number of stars (1, 2 or 3) indicates the extent to which producers meet the quality requirements.
Blend Mixture consisting of various (unground) raw materials, minerals and pre-mix.
Board The Supervisory Board of ForFarmers N.V.
Broiler parent stock Produce hatching eggs which are delivered to the hatchery where the broiler chicks are born.
Calf breeding The raising of a newborn calf.
CEO Chief Executive Officer of ForFarmers N.V.
CFO Chief Financial Officer of ForFarmers N.V.
CIEL Centre for Innovation Excellence in Livestock.
Co-products Products derived from the manufacturing process of human food, such as brewers' grains, which are used for animal feed.
Code of Conduct These are the values, company principles and rules of conduct that apply to everyone who works at ForFarmers. These specify, inter alia, the rules of integrity and responsibilities for both the organisation and the employee.

Company ForFarmers N.V.
Compliance Officer Person, employee of the company, who is responsible for monitoring and managing regulatory compliance issues within an organisation.
Compound feed The collective name for dry animal feeds composed of different ingredients to give them certain properties.
Concentrates A highly concentrated supplementary feed that is diluted at the farm with raw materials available there.
COO Chief Operating Officer, Director responsible for a specific ForFarmers cluster (operating segment).
Coöperatie FromFarmers U.A. Coöperatie FromFarmers U.A. is the majority shareholder of ForFarmers N.V. and has some 4,500 members, which are predominantly active in the ruminant, swine and poultry sectors.
Corn silage Forage crop that is harvested with a chipper as whole plant and then stored in a silo at the cattle farm. Serves as cattle feed.
Cross-selling Cross-selling: sale of products that are related to a product that a customer has already purchased.
Disclosure Committee A disclosure committee is a group tasked with reviewing all proposed disclosures prior to their release. This committee is mandatory for publicly-held companies.
DML DML stands for Dry, Moist and Liquid co-products. See also co-products.
Employee participation plan ForFarmers introduced an employee share ownership plan in 2015 for permanent staff through which employees could purchase a maximum of € 5,000 of ForFarmers depositary receipts per person at a discount. A lock-up period applies to the purchased depositary receipts.
EPS Earnings per share.
Equity on Name A process that has been running since 2006 pursuant to which approximately 82.5% of FromFarmers' equity is registered in the names of members as part of the growth strategy. The last tranche took place in 2017.
Europe+ Europe and adjacent regions.
Executive Board The executive board of the company (ForFarmers N.V). The Company's statutory management board composed of three members, the CEO, CFO and COO.
Executive Committee ForFarmers' Executive Committee is composed of three members of the Executive Board and the other five directors.
FAO Food and Agriculture Organization of the United Nations.
Feed Chain Alliance Feed Chain Alliance Standard (before GMP) is a quality system. managed by OVOCOM, a Belgian platform for animal feed sector.
Feed conversion The amount of feed an animal consumes as compared to the produce of the animal as a ratio. The aim is to get a higher output with a diminishing amount of feed.
Feed efficiency Ratio which indicates how many kilos of animal product (milk, meat, eggs) are made from one kilo of feed.

Feed equivalents The key for allocating equity to members. A member that has feed equivalents can use them by acquiring feed or other products. Members receive a credit on their participation account linked to the use of feed equivalents. This credit consists of the right to depositary receipts.
Feed evaluation system Programme with an overview of all of the nutrients per raw material, the degree to which these nutrients are available for the various animals at various ages and the specific nutrient requirements of animals in various phases of life. This data is combined with the available raw materials in order to give the animal exactly those nutrients that it needs in the most (cost) efficient manner.
Feed performance The final result that is achieved from the feed, such as feed intake, growth, milk production, etc.
Feed solutions A supply of feed products that provides for the specific needs of an animal in terms of nutrition.
Feed system The (technical) manner in which the farmer delivers the feed to his animals.
Feed2Milk Feed2Milk is the ForFarmers' approach to feed for dairy cattle. It allows a better assessment of the nutritional value of the feed and as a result, higher milk production, better feed efficiency and healthier animals.
FEFAC European Feed Manufacturers' Federation.
Fermentation Process through which lactic acid bacteria convert (pig) feed into a healthy, tasty mash with high levels of lactic acid, leading to more efficient feed usage, lower feed costs and healthier pigs.
Fertiliser Administration of fertilisers (nitrogen, phosphate, potassium, etc.) to the soil for optimal crop growth. Both animal and chemical fertilisers.
FFEEC ForFarmers European Employees Council. The Europe-wide employee respresentative which consists of employee representatives from the Netherlands, Belgium, Germany and the United Kingdom. It discusses subjects that concern several countries.
Forage / roughage Unperishable products that are specifically cultivated for livestock feed purposes, such as grass and corn silage.
ForFarmers dealers ForFarmers works in the cattle sector in the Netherlands through regional dealers. These are independent businesses which sell ForFarmers products and advise livestock farmers on various issues, including feed recommendations and business development.
ForFarmers European Employees Council FFEEC, the Europe-wide employee respresentative which consists of employee representatives from the Netherlands, Belgium, Germany and the United Kingdom. It discusses subjects that concern several countries.
ForFarmers Group The Company along with the legal persons or companies with which the Company has organisational links forming an economic unit as referred to in Article 2:24b of the Dutch Civil Code. Also referred to as the 'Company'.
ForFarmers N.V. also referred to as the 'Company'.

GMO A GMO is an animal, plant, or other organism whose genetic structure has been changed by genetic engineering. GMO is an abbreviation for 'genetically modified organism'.
GMP+ GMP+ FSA (Feed Safety Assurance) is an internationally recognised scheme to certify the safety of animal feed in all links of the animal feed chain, including the companies supplying raw materials.
GRI The Global Reporting Initiative is a guideline for sustainability reporting. The GRI's goal is to make sustainability reporting a "standard practice" for all companies and to bring sustainability reports to the same level as financial ones.
Group The Company along with the legal persons or companies with which the Company has organisational links forming an economic unit as referred to in Article 2:24b of the Dutch Civil Code.
HACCP Hazard Analysis and Critical Control Points is a risk inventory for foodstuffs. By identifying health risks in processing and preparation processes, and thereby controlling them, the safety of the product is increased.
Horizon 2020 ForFarmers' strategy to further reinforce the organisation, to become the leading feed business in Europe+ and a Total Feed partner for the farmer.
IFRS The International Financial Reporting Standards (IFRS) are an accounting standard for company annual reports. Companies in the EU listed on the stock exchange are required to report in this manner since 1 January 2005.
Integrated feed solutions A combination of feed products, related advice and resources in order to first establish and then achieve the customer's business objectives, and monitor results.
Issued ordinary shares Issued Shares relates to the total number of shares that are sold to and held by shareholders of the company and include treasury shares (i.e. repurchased shares held by the company).
KringloopWijzer KringloopWijzer is a management tool for dairy farmers and maps the mineral cycle at a specific farm.
LCA LifeCycle Analysis. Demonstrates the environmental performance of the entire production chain.
Like-for-like (LFL) Excluding translation effects of currency and the net effect of acquisitions and divestments.
Liquid co-products Liquid products derived from the manufacturing process of human food, such as whey, brewer's yeast or glucose syrup, and which are used as animal feed.
LTI Lost Time Incident. Accidents at work that lead to one day or more of absence from work.
Material aspect A main aspect of the ForFarmers sustainability strategy. It is an indicator for the GRI guidelines.
Materiality analysis Analysis in which it is determined whether a subject is or is not significant to stakeholders of ForFarmers or to ForFarmers itsself. Often used in relation to sustainability.
Materiality matrix A manner (matrix) in which the importance of Corporate Social Responsibility (including sustainability) issues are plotted in 2 dimensions; the relevant importance of the issues to the stakeholder groups and the importance of the issue to the company.
Micro-ingredients Vitamins, minerals, medicines and other substances used in very small quantities and weighed in milligrams, micrograms or parts-per-million (ppm).

Milk€fficient A programme developed by ForFarmers that combines determining factors of dairy farm results and enables farmers to understand different scenario's how they can improve returns.
Molasses A viscous co-product resulting from refining sugarcane or sugar beets into sugar.
MSCI Netherlands Index The MSCI Netherlands Index is designed to measure the performance of the large and mid cap segments of the Netherlands market.
NIC ForFarmers' Nutrition Innovation Centre works, inter alia, on improving the technical performance of feed, such as feed efficiency and optimal animal growth, and on developing innovative nutritional solutions to contribute to good animal health. The NIC also focuses on improving the sustainabilisation of our products and of the farming industry as a whole.
NL GAAP NL GAAP (also Dutch GAAP) stands for Dutch Generally Accepted Accounting Principles and is used in order to indicate the system of reporting and accounting principles that is applicable in the Netherlands. ForFarmers reported according to NL GAAP until and including 2014. As of 2015, the Company reports according to IFRS.
Nitrogen and nitrogen crisis Nitrogen oxides and ammonia end up in the environment mainly as a result of llivestock farming including manure applications in farming, and emissions from traffic and industry. The Dutch government needs to take measures to reduce emissions of these reactive forms of nitrogen, following a ruling of the Council of State in May 2019.
NOVA A concept for sows. The NOVA products provide a higher milk production per sow, more piglets per litter, a higher weaning weight per piglet and a longer lifespan for sows.
Nutreco International organisation, operating worldwide in the animal feed and fish feed sector. Strategic partner of ForFarmers.
Nutrient requirements A specific animal's need for nutrients such as amino acids, energy, essential fats, vitamins, minerals and trace elements.
Nutrient value Nutritional value, for example, levels of protein, oil, fibre, ash, starch, sugar, calcium, phosphorous, or sodium.
Nutrition Innovation Centre (NIC) Department within ForFarmers responsible for nutrition, research and innovation.
Nutritional matrix Schedule of nutrients and the nutrient requirements of different animals in various phases of life, which forms the basis for the feed solutions that ForFarmers provides.
Nutritional total solutions Total solution offered to cover all livestock feed needs of any type.
Organisation ForFarmers Group. The company headed up by ForFarmers N.V. and/or ForFarmers Group. When 'the Organisation' is referred to, it means ForFarmers Group.
Outstanding ordinary shares Outstanding Shares are the number of issued shares minus the number of treasury shares (i.e. repurchased shares held by the company)
Ovocom OVOCOM is a Belgian quality platform for the animal feed sector comparable to GMP+ in the Netherlands.
Palm oil Vegetable oil extracted from the fruit of the palm tree.

Participation account The participation in the capital of Coöperatie FromFarmers (the proprietary rights per member) registered a member which can be converted by the member into depositary receipts.
Pavo Company specialising in horse feed for both recreational and competitive horses, with branches in the Netherlands and Belgium and sales in practically all of Europe. A subsidiary of ForFarmers.
Performance feed Feed aimed at high performance of the animal (e.g. compound feed, specialties etc.).
Phosphate efficiency Indicator of how efficiently a livestock farm handles phosphates.
Phosphate rights The production of phosphate by the Dutch cattle industry is restricted by phosphate rights. The Dutch Secretary of State for Economic Affairs made this decision in 2016 because phosphate production by the Dutch cattle industry in 2015 was higher than had been agreed with the sector.
Phytases Phytases are enzymes that improve phosphorus digestion in pigs and poultry.
Plant The name of a ForFarmers business unit that focuses on agriculturists, contractors and cattle farmers that produce forage.
PoultryPlus Breeding organisation for broiler chickens with sales in the Netherlands, Germany, Belgium, Switzerland and Austria. A subsidiary of ForFarmers.
Premixes Mixture of vitamins, (trace) minerals and additives that are added to the feed in order to meet the animal's needs.
Priority share The priority share is held by Coöperatie FromFarmers U.A. The priority shareholder has the rights as specified in the ForFarmers Articles of Association.
Priority shareholder The priority share is held by Coöperatie FromFarmers U.A.
Rapeseed meal Rapeseed meal is a protein-rich co-product of the extraction of oil from rapeseed.
Reudink Animal feed supplier specialised in organic animal feeds, operating in the Netherlands, Germany and Belgium. A subsidiary of ForFarmers.
Risk Advisory Board (RAB) Risk Advisory Board is composed of the CFO, Director Supply Chain, Director Reporting, Tax & Risk. The Internal Auditor participates in meetings as an observer.
Roots in the top layer of soil The quantity and distribution of root growth in the top layer of soil.
Roughage+ Farming approach in which the soil, fertiliser, crop growth and management of planting and harvesting are properly synchronised with each other.
RSPO Round Table on Sustainable Palm Oil. Round Table for responsibly produced palm oil. (www.rspo.org)
RTRS Round Table Responsible Soy. Round Table for responsibly produced soy. (www.responsiblesoy.org)
Ruminants Ruminants have four stomachs. They chew the feed again in the mouth after it has been in the rumen. Examples are dairy cattle, beef cattle, goats, and sheep.
SDGs The Sustainable Development Goals are a collection of 17 global goals set by the United Nations, to Transform our World.

SecureFeed Organisation that guarantees the food safety of animal feeds in the Netherlands. SecureFeed develops and manages a common system for monitoring and risk assessment of raw materials and their suppliers. Dutch dairy farmers are obliged to purchase from SecureFeed members.
Sedex code Supplier Ethical Data Exchange
Seeds Seeds from cultivated crops for planting. Collective name for the entire range of seeds for grasses, grains, maize etc.
Semi-finished products Raw materials that have already been processed but need to be further processed to make a finished product.
Single raw materials / straights Raw materials, including types of grain such as wheat and maize, which the farmer mixes with other feed products at the farm.
Slurry A mixture of solid and liquid manure (urine and dung) from animal origin.
Soybean meal Also known as 'soya meal', 'soya bean meal' or 'soybean meal'. Heat-treated product that remains after extraction of soy oil from the soy bean. Serves as protein-rich raw material for cattle feed.
Special feed Feed for animals in a specific phase of life or with specific requirements.
Stackable co-products Co-products with a lot of moisture that are not fluid but stackable, for example potato starch.
Statutory Board (of the Company) The executive board of the company composed of three members.
Stichting Beheer See Stichting Beheer- en Administratiekantoor ForFarmers.
Stichting Beheer- en Administratiekantoor ForFarmers The ForFarmers Trust Office Foundation holds shares in the capital of the Company and its purpose is, inter alia, to acquire and administrate shares for safekeeping against the granting of depositary receipts and to exercise the voting rights attached thereto and other control rights.
Stichting Continuïteit ForFarmers The ForFarmers Continuity Foundation. This Foundation was set up to safeguard the identity, strategy, independence and continuity of the Company headed up by the organisation. It is fully autonomous and has a fully independent management.
Strategic partnership Close cooperation with other specialist players in the market with the goal of reinforcing each other in terms of knowledge, innovation and purchasing.
Sunflower seed meal A protein-rich co-product of the extraction of oil from sunflower seed.
Supervisory Board The Supervisory Board (the Board) is composed of six members and is tasked with the supervision of the Executive Board's strategy and of the general affairs of the company and the organisation linked to it.
Sustainability Advisory Board Composed of three members of ForFarmers' Executive Committee, one member of the ForFarmers Supervisory Board and six external members. Its role is to provide advice on ForFarmers' sustainability strategy and on major trends and issues that should be taken into account.

Terra+ A total feed approach, introduced in 2017 by ForFarmers, with which dairy farms can improve the quality and output of forage.
TMR concept Total Mixed Ratio (TMR) is the name of a ration whereby all of the feed materials are mixed via the feed mixer wagon and provided and delivered to the cattle.
Toll manufacturing Manufacture (of feeds) for third parties based on specifications provided by these third parties.
Tools Collective name for apps, checklists, programmes, analyses, etc. that ForFarmers offers its customers in order to monitor results or to adjust and improve management.
Total Feed A ForFarmers strategy to offer livestock producers a complete package consisting of feed solutions, corresponding advice and resources in order to establish the customer's business objectives and to monitor the results thereof.
Total Feed approach See Total Feed.
Total Feed Business See Total Feed.
Translac Feed concept for cows in the period around calving.
UFAS Universal Feed Assurance Scheme. The AIC (Agricultural Industries Confederation) have developed a range of Trade Assurance Schemes covering areas of the agri-supply industry. UFAS deals with the production and delivery of compound feeds and the supply of feeds to farms.
ULTRA Feed concept for finishers (pigs).
VIDA Brand name for ForFarmers' feeds for piglets.
Virtual chain integration Companies in a virtual (supply) chain share information across the supply chain to derive additional value e.g. provenance / traceability.
Vital A new approach by Reudink for organic cattle farmers to positively influence the feed intake and health of young animals.
Vleuten-Steijn The feed company focussed on the swine sector in NL and GE, acquired by ForFarmers in October 2016. Special focus on sow and piglet segment.
Wellfare concept Livestock concepts with extra focus on animal welfare.
Wet co-products Liquid products derived from the manufacturing process of human food, such as whey, brewer's yeast or glucose syrup, and which are used as animal feed.
Whistle-blower policy The whistle-blower policy specifies the suspicions of wrongdoing that should be reported and to whom, as well as the procedures that apply thereto. The whistle-blower policy forms part of the Code of Conduct.