Share Structure

According to the Articles of Association Royal DSM has two types of shares: one class of ordinary shares and two classes of Cumulative Preference shares series A and B. At this time, next to ordinary shares only Cumprefs A have been issued. The Cumpref B are not issued nor outstanding at this time. All issued Cumprefs C were bought back by DSM in November 2004 and were cancelled on June 3, 2009.

• issued as per 31 December 2008: 181,425,000 shares
• outstanding as per 31 December 2008: 162,227,062 shares
• nominal value of € 1.50 per share
• no certificates on these shares are issued, the voting rights are not limited

• listed on the stock market at Euronext Amsterdam

• issued and outstanding in 2008: 44.04 million shares
• not listed on the stock market
• owned by three Dutch institutional investors
• nominal value of € 1.50 per share
• as of 1 january 2008 the annual dividend amounts to € 0.23 per share ( 4.348% of the issuance price of € 5.2942)

• are not issued nor outstanding at this time
• by virtue of DSM's Articles of Association the Cumprefs B can de issued and placed by DSM by the DSM Preference Shares Foundation, in order to provide protection against a hostile takeover bid
• the DSM Preference Shares Foundation is independent in accordance with the requirement laid down in Appendix X to the Listing and Issuing Rules or Euronext

• all Cumprefs C were bought back by DSM on November 28, 2004.
• as resolved in the Annual General Meeting, held on March 25, 2009, all 37.5 mn Cumpref C shares were cancelled on June 3, 2009.