Disclaimer

This report may contain forward-looking statements and projections. These can be identified by words such as ‘anticipate’, ‘intend’, ‘estimate’, ‘assume’, ‘expect’ or the negative equivalents of these terms and similar terms. These forward-looking statements and projections are based on current expectations and assumptions concerning expected developments and other factors that can affect Stedin Group. These are not historical facts or guarantees of future results. Actual results and events can differ from the current expectations due to factors such as economic trends, technological developments, changes in laws and regulations, the behaviour of suppliers and customers, currency risks, tax developments, financial risks or political, economic and social conditions.

Further information on potential risks and uncertainties that can affect Stedin Group is stated in the documents filed by Stedin Group with Euronext Amsterdam and the Euro MTF Market of the Luxembourg Stock Exchange.

Except as required on the basis of laws and regulations, Stedin Group rejects any obligation or liability to revise or adjust projections and forecasts in this document on the basis of new information, future events or otherwise, or to publicly disclose such adjustments or revisions.

Certain parts of the annual report and the financial statements have been audited by our auditor. The section entitled 'Independent Auditor's Report' describes which parts have been audited, and how, by the independent auditor.

This report is a translation of the Dutch annual report 2020 of Stedin Groep. In the event of any discrepancy, the Dutch version will prevail.

Copyright and brand names

The photographs published in this annual report are subject to copyright protection.

Stedin, Enduris and DNWG and NetVerder are brand names of Stedin Holding N.V. or its subsidiaries.

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