The Annual report 2023 of RAI Amsterdam

01 Welcome to RAI Amsterdam

In full flow: Foreword from the Executive Board

A year of potential fulfilled is how 2023 can best be summarised. A meeting with Paul Riemens (CEO) and Maurits van der Sluis (COO) to discuss the reporting year leaves no doubt that this has been a good year for RAI Amsterdam in every respect.

PaulRiemens(right)andMauritsvanderSluis

Which moments in 2023 stand out for you?

Paul: "For me it was mostly walking the exhibition floors and gaining a sense of what was happening all around me. People sharing a passion and doing business in meetings that were in essence organised and made possible by our teams. RAI Amsterdam has built up a portfolio of events which are leaders in their respective sectors and bring the key players from these sectors together. In doing so we make a direct contribution to their innovation capacity in various ways, which in turn leads to sustainable solutions to the challenges of today and tomorrow. From water technology, cleaning and maritime matters to mobility and drones, the moments that stayed with me most revolved around seeing superb innovations unveiled and meeting people who were sharing knowledge and generating new relationships. I had a similar sense during the events we facilitated for external organisers and was proud to serve them and, where possible, enrich their events. A good example is the large medical conferences we host which expand knowledge in the world of science – it’s wonderful that this happens right here, on the Europaplein square in Amsterdam."

Maurits: "If we look at the results achieved, 2023 was a traditional type of year. And that’s a good thing. In the context of recent times, it’s quite an accomplishment to perform as if the pandemic never existed. Taking the RAI’s event cycle into account, it was actually quite busy for an uneven year. International events have returned to Amsterdam and our own events were very active abroad. And that’s being noticed too, with clients telling us that events are relevant and really matter. Yes, 2023 was an excellent event year with many highlights and we celebrated all of them together with our clients. We also managed to fill our agenda for the coming years.”

Paul: “I should also add is that all this was achieved while we, as an organisation, had worked so hard in the year before on our Back to Business recovery plan. Despite the effort required, we were able to move forward smoothly in 2023 with a proper balance between production, efficiency, health and innovation. Add in the excellent financial results and the way we reinforced our value to Amsterdam as a city and you have all the ingredients of a year to remember.”

”We were able to move forward smoothly in 2023 with a proper balance between production, efficiency, health and innovation.

Paul Riemens CEO

Which events took place?

Maurits: “International and national trade exhibitions, conferences and public events as well as other meetings and gatherings. We opened our doors to over 300 events. I prefer not to give specific examples as I don’t want to prioritise… All these events and their sheer diversity make RAI Amsterdam a beating heart of progress. We were also often able to contribute to global innovation by showcasing ideas which are helping sectors move to new levels.”

Paul: “Indeed. The final quarter of 2023 highlighted the enormous diversity of the RAI agenda. From a medical conference to the Millionaire’s Fair, from an exhibition about water technology to an ice-skating show for all ages... The RAI is the home base for all types and sizes of events. And our doors are wide open.”

What were the main challenges?

Maurits: “We continue to closely monitor geopolitical developments in Europe and beyond. There are ongoing wars and unrest in the Middle East. Our organisers of international events are seeing fewer visitors from Asia and there some travel limitations remained in place in 2023. It’s also an ongoing challenge to attract sufficient talent from the labour market.”

“This labour market situation is why it’s so crucial for RAI Amsterdam to be an attractive employer,” adds Paul. “Not just in the way we present ourselves to the outside world, but also in how our employees, clients, suppliers and other relations feel about us. Thankfully, we can all be proud of our reputation and employee satisfaction levels. And in terms of challenges, it’s worth noting that society as a whole has become more demanding. Everyone has, or at least that’s how it seems. Our employees handle this shift in a hospitable and professional way. Operationally speaking everything has been under control in 2023 and all our affairs are in order. Service provision remains of a good quality and, with both the people and the means in place, we can deliver it well.”

How did RAI Amsterdam have value for the city?

Paul: “We try to generate as much value as possible for the city and region with our buildings and our national and international events. The RAI also accommodates very local events such as the King’s Day celebrations, and we function as an emergency centre when required. The municipal health service had a major vaccination centre here until last year, for example. We provide employment inside the RAI and beyond as well as offering many training opportunities. Something that may be less well known is the role we play in helping improve the sustainability of the metropolitan region and as a partner in tackling various social issues. The RAI contributes as much as possible to the well-being, development and transformation of the city, and –

perhaps just as importantly – we are constantly transforming ourselves too. This mainly involves sustainability aspects and we’ve been working on a programme of integrated area development for several years that will further enhance the situation. This is a long-term trajectory but, as we work together more closely, the city and RAI Amsterdam are increasingly recognising how valuable we can be to each other.”

”Amsterdam came tenth in the global top 100 Sustainable Cities Index 2022. This is partly due to the quality of our infrastructure, transport and digital connectivity.

Maurits van der Sluis COO

Maurits: “And, obviously, the events that take place here stimulate innovation and have an economic value for the city. Amsterdam was named the most innovative small city in 2023, and the Netherlands came fourth on the European Innovation Scoreboard. In addition, the Dutch capital was named one of the leading destinations for sustainable meetings. It also came tenth in the global top 100 Sustainable Cities Index 2022. This is partly due to the quality of our infrastructure, transport and digital connectivity. Realising social and economic value is what we strive to do. And thankfully, that’s increasingly what our clients are asking for, too.”

Finally, what are you most looking forward to in 2024? Maurits: "2024 promises to be a good year, even better than 2023. We have a well-filled and well-dispersed agenda. We are working on a number of innovations and I’m really looking forward to realising them together with organisers, exhibitors and the RAI teams."

Paul: "We will continue to develop and make concrete the vision for this area of the city together with Amsterdam council and other stakeholders. In doing so we hope to achieve an integrated transformation that will ensure the RAI premises have even greater added value for organisers, exhibitors, visitors, the city and the region."

Profile

RAI Amsterdam is an international exhibition and conference organisation. Its convention centre in Amsterdam – known simply as ‘the RAI’ – facilitates a wide range of events from small to large. In addition, RAI Amsterdam owns a range of trade and public events which it organises onsite and in cities outside of Europe.

RAI Amsterdam Convention Centre

Our venue on the Europaplein square in Amsterdam hosts a large number of events every year. From trade shows and conferences that fill the RAI with 50,000 people to meetings of ten: we guarantee a friendly welcome and organise each event down to the smallest detail. All the required multifunctional facilities are available and we work constantly to improve, expand and increase the sustainability of our products and service provision. We measure our progress and success year by year via customer reviews, awards and certifications.

The RAI is located in the heart of the city, and is very easy to reach thanks to its location next to the A10 ring road and Amsterdam RAI train station. The Europaplein metro station is literally on our front door. It takes visitors just ten minutes to get to the main hall at Schiphol Airport and even less to the heart of the Dutch capital. Visitors can easily combine their business trip with a pleasant urban stay in Amsterdam.

RAI events in the Netherlands and abroad

We have a portfolio of our own events that we organise in Amsterdam and other convention centres outside of Europe. We are active in various key sectors including professional cleaning, remanufacturing, traffic technology, maritime, water technology and horticulture. We also have our own national trade exhibitions such as Horecava (food service and hospitality) and consumer events like the Huishoudbeurs (lifestyle) and Nine Month fair (for soon to be and new parents). All in all, RAI Amsterdam has a well-rounded portfolio of events which generates turnover, protects our market share, and facilitates knowledge sharing, network expansion and business in the relevant sectors.

Sustainable developments

Leading sectors

The (international) meetings we organise and the networks which are created as a result are crucial to the exchange of knowledge, information and capital. They enable us to contribute to the (sustainable) development of people, markets and society, as well as meeting the United Nations’ sustainable development goals (SDGs) in various sectors.

Enhanced contributions

We are constantly focused on our ecological footprint and social environment. Preventing any damage or nuisance from goods, visitor flows and traffic, and minimising noise are major spearheads to the RAI. At the same time, we continually explore ways to increase our contribution to society, for instance by working with local suppliers and societal partners, and by helping organisers develop sustainable and responsible events.

Value for the region

Hotels, restaurants, museums, transport operators and suppliers all benefit from the exhibitors and visitors who come to the city for the (often international) exhibitions, conventions and shows in RAI Amsterdam. Business visitors who stay for a few days are also good for the city and the wider region, contributing more to the local economy on average than recreational tourists.

Awards and certifications

Our awards and certifications reflect the areas in which RAI Amsterdam excels as an exhibition and conference centre. We will continue to develop ourselves to preserve and strengthen our leading position.

Award overview

In 2023 we received the following awards:

EN Awards: Best International Venue

AEO Excellence Awards: Venue team of the year

Amsterdam Zuidas: Public Award for Sustainability

MT/Sprout: Nr 1 Sustainable Development 400

Certification overview

The RAI has the following certifications:

YOIN Excellent Meeting Places (previously 5hammers)

AIPC Gold

EarthCheck 4.0 Platinum (first event and conference venue in Europe)

ISO-9001 (Quality management)

ISO-14001 (Environmental management)

BREEAM-Excellent certification (for construction of the Amtrium)

Recognised training company

(Samenwerkingsorganisatie BeroepsonderwijsBedrijfsleven)

Strategy and value creation

RAI Amsterdam aims to operate a valued and profitable event location while contributing to the wellbeing and development of visitors, the city and society as a whole. Our primary commercial focus is on multi-day international business-to-business events using the appeal and reachability of Amsterdam as a basis. From a social perspective we are especially keen to contribute to the city and local region. RAI Amsterdam is for everyone and we set ourselves apart by offering modern, innovative and sustainable facilities and a genuinely hospitable organisation.

Corporate Social Responsibility (CSR) is an integral part of our strategy and the six strategic pillars. We are proud that many of our activities have positive social value. How we create added value for the city and society is further detailed in a separate section of the Executive Board report. Recognising that our operations make use of resources, take up space, generate noise and can potentially impact society in other ways, we work hard to minimise any effects. This issue is also clarified further elsewhere in this report.

The diagram below shows how we create value for our stakeholders and the Sustainable Development Goals to which we primarily make a contribution.

Value creation

Six strategic pillars

We realise our goals based on six strategic pillars:

Portfolio development: we work on the ongoing development, purchasing and acquisition of (new) titles, with a focus on business-to-business events in Amsterdam and abroad;

Client solutions: we constantly expand our service portfolio and help our clients realise safe, responsible and hospitable events;

Data & digitalisation: we apply the latest technological developments to generate value for our clients and work more efficiently;

Multifunctional area development: we facilitate business meetings and spontaneous encounters. The RAI should be an attractive environment before, during and after events, now and in the future;

Building & infrastructure: we offer an accessible and safe place for valuable meetings. We increase the available square metres of exhibition space within the existing options and substantially improve logistics and traffic management;

A learning organisation: we challenge ourselves to constantly work in smarter ways and ensure the best possible working environment for our employees.

Connecting and inspiring for over 130 years

RAI Amsterdam has been facilitating valuable meetings that bring people together to make connections and be inspired for over 130 years. Since 1961 we’ve been operating from our multifunctional exhibition and conference centre on Europaplein. We are also active elsewhere in the world with our events, sometimes via partnerships. Organising and facilitating events are our core activities. Partly due to market developments and the strong appeal of the city of Amsterdam, we have been increasingly focused on multi-day international events since the start of this century. This has resulted in a well-dispersed portfolio, which we continued to expand in 2023.

RAI Amsterdam organised and facilitated a total of 322 events in 2023. By facilitating we mean that organisers (external or RAI Amsterdam itself) use our exhibition and conference venue in Amsterdam for their event while we provide a hospitable welcome. This was the case for 314 events in the reporting year. Organising refers to the events organised by our own teams. This applied to 18 events in 2023, eight of which took place abroad in other convention centres, and ten in the RAI itself. These latter ten events were therefore both organised and facilitated by RAI Amsterdam.

Nearly 16,400 exhibitors presented their products, services, concepts and ideas, two-thirds of which came from abroad. This underlines the largely international nature of events in RAI Amsterdam. In 2023 we welcomed nearly 1.5 million visitors, compared to 1.2 million in 2022.

Satisfaction scores among our customers are a key indicator which we gauge structurally using a scale that ranges from 1 (minimum score) to 10 (maximum). Event organisers gave RAI Amsterdam an average of 8.2 (2022: 7.7), exhibitors 7.6 (2022: 7.9) and visitors 7.5 (2022: 8.0). It is very satisfying to see that the vast majority of our customers graded their experiences as ‘good’ or ‘very good’.

Horecava2023

A top-level meeting place

The Netherlands is doing well on the international trade and industry stage. To remain competitive the government is investing in various ‘top sectors’, and works closely with businesses and scientists in an impressive collaboration that has received praise from around the world. The economy is also strengthened by this partnership via innovations, the utilisation of international opportunities, the resolution of social challenges, the increase of human capital, and investments in scientific research.

RAI Amsterdam represents, connects and strengthens the Dutch top sectors and their ecosystems. This makes the RAI – and the city of Amsterdam – a meeting place of the highest stature, a place where government officials, scientists, business people, subcontractors and other key players join forces to share knowledge, do business and work together.

RAI Amsterdam as organiser

Various events organised by RAI Amsterdam are directly focused on strengthening the government’s ‘top sectors’. These include GreenTech (horticulture & propagation materials), METSTRADE (maritime) and Aquatech (water). We also organise events that cater to other relevant sectors such as the innovations and challenges related to mobility which were showcased and discussed during Intertraffic and the Amsterdam Drone Week. Horecava is an event we organise for professionals in the foodservice industry, while the lifestyle event Huishoudbeurs is for everyone who loves tasting, sampling and shopping.

We are proud that all our events have a leading position in their relative sectors. This also holds true far beyond the Dutch borders where we work with our partners to organise spin-offs of these events in places like Mexico and China.

RAI Amsterdam as facilitator

Partly due to its central location, excellent accessibility and enormous range of activities, the Netherlands in general and Amsterdam in particular is an attractive destination for organisers. RAI Amsterdam has regular contact with international organisers and, in turn, helps them contact relevant parties in our city, in the Netherlands and beyond. As such, we act as a networking organisation and as a partner to ensure each event is successful for everyone involved.

In addition to a strong network, we have expanded our products and services over the years to ensure organisers benefit from a full-service package. This covers everything from hotel services and IT support to stand construction and catering. Although many interesting developments in 2023 are described later in this report, some of the special events we organised and facilitated in 2023 are highlighted below.

Some highlights in 2023

Cisco Live! makes innovation possible

Cisco Live! offers a unique opportunity for IT professionals to share knowledge, network and discover the latest technologies. Cisco and RAI Amsterdam worked tirelessly to make the RAI the first convention centre in the Netherlands to have a powerful WiFi6 wireless network based on intent-based networking and OpenRoaming. This allowed visitors to keep using a stable and fast network with high coverage even during peak hours. A plan was also made in 2023 with Cisco to introduce private 5G at the 2024 event, the first exhibition and conference venue in Europe to do this.

Skills The Finals showcases student talents

HRH King Willem-Alexander of the Netherlands visited the RAI to see (V)MBO students battle to win the prestigious title of Dutch Champion in their field. Skills The Finals inspires young people to choose trade schooling and offers students a learning experience for future career opportunities. The importance of highlighting this aspect was reinforced by the attendance of representatives from the Dutch government.

ESC brings 24,000 medical professionals together

The European Society of Cardiology (ESC) congress saw the RAI serve as the central meeting point for some 24,000 visitors on-site and 6,000 online in the summer of 2023. The ESC is known as the largest medical conference in Europe, and the largest cardiovascular event in the world. Leading scientists hosted over 800 academic sessions, plenary lectures and seminars on the latest research and clinical studies.

Aquatech visits three continents in one year Aquatech is the international trade exhibition for professionals in water technology and the 2023 event matched the record numbers seen in 2019. This edition focused on bringing together circular and economic management in the various sub-areas of the exhibition, with programmes about re-use, reduce and recovery. A bio-gas pavilion was also included in the show, as was a global partnership with publishing company Global Water Intelligence. The Aquatech Innovation Forum welcomed 150 speakers and featured 70 sessions, a record in the history of the event.

In 2023, we also organised Aquatech in Mexico (the largest edition yet) and China, featuring international missions from the EU, Brazil and Japan.

World Gymnaestrada, a meeting point for gymnasts

For the 17th edition and to mark its 70-year anniversary, World Gymnaestrada returned to the Netherlands, the country where it all began. A key event in the world of international amateur sports, nearly 19,000 participants from 60 countries travelled to Amsterdam to celebrate gymnastics. From an opening ceremony in the Olympic Stadium to national evening programmes, large-scale group performances in the RAI and stages throughout the city, World Gymnaestrada illustrated the comprehensive reach of the sport with a wide mix of cultures and skills.

Horecava focuses on sustainability

The 2023 edition of the RAI Amsterdam event Horecava was a great success, with visitor numbers returning to pre-pandemic levels. The entire exhibition floor highlighted the theme of sustainability in various ways. Topics such as food waste reduction, green innovations and energy and water savings inspired visitors to increase the sustainability of their business. From circularity to packaging solutions, from major changes in the way the sector treats its staff to the normalisation and acceptance of plant-based foods, these subjects and more were on the menu during the 66th edition.

METSTRADE breaks own records

The 35th edition of our METSTRADE show, the world’s largest trade exhibition for leisure marine equipment, materials and systems, broke various records in 2023. It was the largest and most attended edition yet, with over 1,500 exhibitors and almost 29,000 visitors from 130 countries. The exhibition had the highest number of uniform and modular stands to date, built by RAI Amsterdam and featuring attractive branding for the associated exhibitors.

IBC attracts more visitors than ever to the RAI

The world’s leading content and technology exhibition IBC brought over 43,000 visitors from over 170 countries together in the RAI in 2023. IBC is a must-attend event for the entertainment and technology sector. It is also one of the largest exhibitions hosted at the RAI – and the scale achieved is partly thanks to the way our product and service portfolio has grown in parallel. Modular stand construction is taken care of by the RAI’s Design & Build department. The impressive developments in 2023 included an increase in the number of modular stands by 45% compared to the previous year.

GGD, Kraft Heinz, VU and ROC: lots of space for social initiatives

In 2023, the RAI also opened its doors to various social themes and initiatives. This included Kraft Heinz, which hosted a large 'meal packing event' where volunteers –including many RAI employees – were given 25 hours to pack as many meals as possible for people in need. Spaces in our convention centre were also used for Covid testing by the municipal health service GGD, school exams and a range of sports activities.

Awards

Best International Venue

RAI Amsterdam took home the Exhibitions News Award for ‘Best International Venue’ in March and was also a finalist in the ‘Best company culture’ category. Seen as ‘the Oscars’ of the exhibition sector, these awards are presented annually to people and organisations who have made a special contribution to the industry.

Venue Team of the Year

In June, RAI Amsterdam was awarded the Venue Team of the Year Award during the 30th AEO Excellence Awards for the way in which we tackled the challenge of adapting to an innovative concept for the Money20/20 financial event. We were also nominated for the M&IT Awards in September.

Public’s favourite sustainable Zuidas company

In 2023 we won the Zuidas Sustainability Award for our ‘Heartwarming Amsterdam’ food & beverage project. This was the first year in which this award, designed to highlight sustainable initiatives and inspire eco-friendly developments in the Zuidas district, was presented. The Heartwarming Amsterdam food concept is focused on local partnerships and supporting suppliers from the Amsterdam region who use traditional and seasonal methods to produce fresh, sustainable, flavoursome and animal-friendly ingredients. The public award was presented to the kitchen team which has been committed to offering a more local, greener and better food & beverage choice for many years.

Most sustainable business

RAI Amsterdam came out top in this year's SD400 survey by MT/Sprout. Leading the list in the 'Media and Information Industry' category, we scored particularly highly on the ecological aspect while also being among the top four within the social and governance sub-areas. It is the first time that MT/Sprout has conducted research into the valuation related to Environmental, Social & Governance (ESG) aspects. The survey is conducted by the University of Amsterdam among over 1,500 business decision-makers in the Netherlands.

More than an exhibition and conference venue

RAI Amsterdam is more than just a convention centre. We are a networking organisation that provides a wide range of facilities and services for organisers, exhibitors and visitors. In doing so we continuously strive to increase sustainability and enhance our business operations, products and service provision, while also contributing to the city and its residents wherever possible.

As a large employer and training company in Amsterdam, the RAI has a positive social-societal impact. We contribute to the city and its residents in various ways. An example is our weekly preparation of hundreds of meals for the homeless and the fact that we donate residual items from exhibitions to local charities supporting vulnerable residents and others in need.

Our economic impact is very significant. Research by Ecorys for Amsterdam city council in 2020 shows that every euro spent in the RAI generates up to 7 euro for the city and region. Indirectly we employ 6,300 FTEs via the activities we organise and facilitate.

We realise that our activities consume natural resources, take up space, make noise and have other impacts on society that we constantly strive to minimise or avoid.

RAI Amsterdam Convention Centre facilities

Properties

Total surface area

Conference centres

Facilities

116,600 m2

3 interlinked conference locations

Halls 12 interconnected halls, expandable with two semi-permanent halls

Rooms

Foyers and lounges

Entrances

Restaurants and bars

Parking garages

Marina

2 auditoriums, one large ballroom with 2,000 seats. A total of 70 conference and meeting rooms. Accommodation for 10 to 10,000 people per room.

Multifunctional space for exhibitions, parties and celebrations

9 separate entrances: own entrance for each event

9 restaurants, bars and lounges. From buffet to à la carte

Capacity for 4,000 spaces on the premises

Own marina directly connected to the Amsterdam canals

Train station called Amsterdam RAI, adjacent to RAI Amsterdam Convention Centre

Two metro stations

Hotel (nhow)

Amsterdam RAI Station connects to the metro line that forms a circle around the city. The

new Europaplein station is situated just 50 m from the entrance to the RAI and connects the RAI to the city centre.

On-site congress hotel with 650 rooms and 200 parking spaces

Sustainability at the RAI

With Corporate Social Responsibility (CSR) being an integral part of our company, our management and strategy are aimed at ensuring a healthy balance between social, ecological and economic value creation. We are working towards climate-neutral operations and constantly looking for ways to increase the sustainability of our business, both for ourselves the events of our clients. This includes efforts in the field of energy saving, eco-friendly furnishing of indoor and outdoor spaces, waste reduction, sustainable procurement and the recycling and reuse of materials. We also offer our clients various options to enhance the sustainability of their event.

In 2023 we made major progress in increasing the sustainability of our product and service portfolio. We are promoting the use of modular standbuilding during events and processing as much exhibition carpet into polypropylene granulate for reuse as possible, which has a positive effect on the reduction of our waste streams. We also reduce waste streams by offering materials and items that are left over after an event to social initiatives that have a use for them. This donation programme has become a considerable success, with 22 clients using the service in 2023.

We also installed water tap points in this book year so that visitors and employees can refill their own reusable bottles, and banned single use plastic on 1 January 2024 in accordance with Dutch government guidelines. We also enriched our food & beverage range with an entirely new plant-based concept that won us an award in 2023. Surplus products from our kitchens are donated to the Salvation Army, and RAI Amsterdam employees regularly work on a soup bus to serve city residents in need.

RAI Hotel Services

RAI Hotel Services is the largest accommodation intermediary in Amsterdam and the surrounding region, mainly booking hotel reservations for conferences, exhibitions and other events. Its team looks for the ideal places for clients to stay to offer organisers, exhibitors and visitors the best hotels at the most favourable prices. In total we processed 37,100 bookings (2022: 26,936) in the reporting year, involving over 130,000 overnight stays (2022: 89,625). In the last fully operational year before the Covid pandemic (2019) we processed 31,500 bookings, equivalent to 105,000 overnight stays.

RAI Hotel Services works with the Green Hotel Club, a foundation which strives for a fundamental and broad-based increase in sustainability across the hotel sector. This partnership aims to provide visitors to Amsterdam with environmentally friendly accommodation.

RAI Food & Beverage

The food & beverages experience is an important component of every exhibition, conference, stage show or other event. RAI Amsterdam facilitates all aspects of this for organisers, exhibitors and visitors alike. From stand socials to professional baristas and exciting cocktail shakers to fully catered receptions and gala dinners, we can provide a custom solution for any occasion ourselves and with selected suppliers.

Food&BeveragestationatIBC2023

Local, unprocessed and plant-based Food is responsible for 30% of the world’s CO₂ emissions, making it vital for us to make conscious choices when preparing our menus. We mostly purchase local produce in the Amsterdam region and design menus with minimum environmental impact, such as our new plant-based food concept.

During Money20/20, a large-scale event in the field of finance technology, we created a variety of catering stations in 2023. Based on the themes that were most relevant during the event, the stations featured local products where possible as well as a wide range of plant-based food.

RAI Design & Build

Our Design & Build team is pleased to share its knowledge and help organisers and exhibitors enhance their event. They are experts in the field of floor plans and the optimal use of space with minimal complications on the exhibition floor. RAI Design & Build also provides a full range of products and services for stands and even delivers complete stand packages.

RAI Amsterdam offers organisers the option of modular stand construction, with all parts being reused. This approach involves a wide range of choices that can be realised in a relatively short period of time. Various modular stand construction packages have been developed with ecological and recycled materials and lightweight aluminium. They are suitable for stands up to 70 m² and include LED lighting. Using modular stand construction minimises traffic streams as parts are stored regionally and the stand builders are situated in-house or close to Amsterdam. This in turn results in a lower footprint and 100% circularity. In 2023 Design & Build enabled 4,688 exhibitors to use modular stand construction packages at the RAI in 41 events, meaning that 34.5% of all stands in RAI Amsterdam were modular.

RAI IT & Infrastructure

With thousands of visitors a day the RAI requires and provides fast, stable and secure (mobile) networks and applications for data traffic. Our premises are connected to AMS-IX, the largest internet hub in Europe. The infrastructure was developed to allow a huge number of devices – 5,000 cabled systems and 30,000+ mobile devices –to simultaneously connect to the network. We also apply 24/7 monitoring on connectivity. Our IT team works closely with local suppliers to keep the quality of our systems and applications at the highest level. This also benefits clients who require highly specialised knowledge and expertise for their events.

Wi-Fi 6 and WBA OpenRoaming

All halls of the RAI are equipped with Wi-Fi 6, the fast standard for wireless internet communication. We’ve also implemented OpenRoaming, making typing in Wi-Fi passwords and clicking pop-ups a thing of the past. OpenRoaming allows mobile devices to quickly, automatically and safely connect to the Wi-Fi network in our exhibition and conference complex.

Unique: Private 5G

RAI is the first exhibition and conference organisation in Europe to offer a private 5G network. The new technology only became available in the Netherlands on 1 December 2023 and has enabled the RAI to take its next step as an innovation centre. The private 5G network, currently the safest, most reliable mobile network, was first used during Cisco Live! in February 2024, one of the largest IT events worldwide.

RAI Logistics

Our Logistics team is focused on all traffic movements and facilities related to the RAI.

Parking and P+R

The RAI has over 3,500 parking spaces and the capacity to accommodate 4,000 vehicles (including the use of spaces in front of the building) plus 200 spaces in the nhow Amsterdam RAI hotel garage. We also provide 50 spaces for charging electric vehicles. Concentrating parking spaces on the premises strengthens our position by increasing customer satisfaction, stimulating smooth traffic flows and reducing nuisance for the neighbourhood.

In 2023 232,000 P+R customers used our garages (2022: 263,000). Our garages are available on days when there are no major events in the RAI and accessible at an attractive rate to visitors to Amsterdam who can then travel further into the city using the North-South metro line. The reduction in the number of P+R customers was due to the lower availability caused by an increase in the number of events in the RAI. In addition, a price rise was implemented by the City of Amsterdam for P+R parking from one to six euros, with commuters (entering the garages before 10 on working days) seeing an increase from eight to 13 euros.

Combi-deals: public transport and event tickets

We proactively stimulate the use of public transport to offer visitors an alternative to driving and minimise car use around the RAI. Deals that combine tickets to exhibitions and transport, offered in partnership with the public transport companies NS and GVB, are more convenient and cheaper. Our webshop completed over 48,700 transactions online in 2023 (2022: 36,900).

RAI Logistics Management System

The Logistics Management System allows us to manage truck transport from departure to arrival and help drivers optimise their journey, ensuring they reach their final destination at the right time and avoid inactivity once there. The aim is to further reduce the number of vehicles roaming the neighbourhood and any congestion from cargo transport. The system was used for over 17,000 bookings in 2023 (2022: approx. 10,000).

Use of buffer zones

During exhibitions for which busy build-up and/or breakdown periods are expected, some 15,000 m² of external premises in Westpoort (outside the Amsterdam ring-road) or parking areas 17 and 18 adjacent to Amstelpark (a smaller zone closer to the RAI) are used as a buffer zone. Incoming traffic is directed to this area, where the vehicles are registered before being invited to drive through to RAI Amsterdam in an orderly fashion. This significantly spreads truck traffic around the RAI. The buffer zones were used on 48 days in 2023 (2022: 64). This reduction is partly caused by the success of the RAI Logistics Management System, which limits the need for buffering.

RAI Safety & Security

The RAI has had a Safety at Work policy in place since 2010. Unique in the event industry, the policy is aimed at minimising injuries during the build-up and breakdown of events in our halls. The experience, knowledge, policy and communication tools resulting from this approach are actively shared by RAI Amsterdam with other event locations in the Netherlands and abroad. A meeting with employees from other exhibition and conference venues took place in this framework in early 2023.

Reducing our negative impact

Partnerships are a crucial factor in further reducing our negative impact. We try to enhance our positive impact and minimise the negative together with our clients, visitors and the city.

ReducedenergyconsumptionandCO₂ emissions

Despite the RAI welcoming a larger number of events to Amsterdam our energy consumption only rose slightly to 100 TJ (TerraJoule) energy (2022: 98 TJ). Some 62 TJ was generated as electricity (2022: 56 TJ) and 36 TJ as district heating (2022: 43 TJ). Our gas consumption was very limited, and 3.3 TJ was generated by our own solar panels (2022: 3.5 TJ).

All energy consumed by the RAI is green power and leaves no CO₂ footprint. We receive certificates from Centriq confirming the purchase from Vattenfall of green power generated by hydroelectric plants in Scandinavia.

We are replacing TL lighting by LEDs at various locations in our buildings. Sensors are also being installed during this LED roll-out so that the lights automatically switch off when not needed. The Security department can centrally switch the hall lights on and off from the control room. We’re detecting and prioritising stand-by power and looking for a structural solution to prevent this. The climate systems are set on timers so that spaces are not unnecessarily cooled or heated. For several exhibitions we developed a strategy to prevent heat from escaping the halls during build-up activities.

RAI Amsterdam has 1,806 solar panels in use, including 1,632 on the roof of Hall 8. The roof of the Amtrium accommodates an additional 174 panels. A total of 2,164 panels have been placed on the nhow Amsterdam RAI hotel in 2020. As the generated energy is provided to and used by the hotel, this does not affect our CO₂ footprint.

*nodataavailableduetocompanyclosure

In 2022 RAI Amsterdam took the initiative to start a stakeholder dialogue with energy suppliers and the city of Amsterdam related to the future generation and consumption of energy. Various meetings were held under the ‘Energy Table’ banner, focused on how the RAI area can become a net energy resource. In 2023 RAI Amsterdam founded RAI Energy BV to enable possible initiatives with partners.

Like many other companies, increasingly stringent European energy legislation (EED) means the RAI is subject to energy audits to prove we are implementing sustainable energy savings. Having now transitioned to the EarthCheck 4.0 certification, no further energy audits will be required.

Noise

The RAI uses an acoustic map that enables us to accurately predict when we need to apply for a noise exemption permit. Four such permits are allowed per year at the RAI and, like in 2022, we applied for and were granted all four.

CO₂footprint

We have been calculating our carbon footprint since 2012. Total emissions in 2023 were 3,740 tonnes of CO₂. District heating, which is distributed via the city grid, is a more sustainable energy source than natural gas as it is based on the residual heat produced during industrial processes, power generation and/or waste separation.

CO₂footprint/NetZeroCarbonEventPledge

RAI supports the Net Zero Carbon Event Pledge (https://netzerocarbonevents.org). This is developing a roadmap for the industry that shows how the organisations involved can move towards net zero in 2050 and halve their footprint by 2030.

Saving water is becoming increasingly important. While the quality of Dutch drinking water is very high from an international perspective, global freshwater supplies are under increasing pressure. RAI Amsterdam aims to be an example in this regard by working towards efficient water consumption.

*nodataavailableduetocompanyclosure

In 2023 we placed tap points at entrances C and K and in the Hospitality Centre so that visitors and employees can refill their own reusable water bottles. We’ve also installed a new toilet concept with water-saving toilets. Preparations were made in the reporting year to increase the sustainability of our toilet sanitary facilities, where 84% of the material used will be made from recycled plastic.

Wastemanagement

RAI Amsterdam aims to ensure that both its consumption and production are sustainable. Events generate substantial amounts of waste, varying from packaging materials to promotional items and decorations. We do everything possible to prevent and reduce waste. Where unavoidable, we work closely with partners to enable high-quality recycling. RAI Amsterdam applies the ‘polluter pays’ principle whenever possible, making the parties who produce waste responsible for its proper separation (separated waste is cheaper and more eco-friendly than unseparated). We also use reusable materials whenever possible and actively search for market demand outside of the RAI to ensure valuable residual streams are identified and repurposed.

Winterparadijs

More kilograms of waste in fewer kilometres

A second Roll-Packer was installed in 2023, a device which reduces the volume of large amounts of waste or recyclable materials such as wood in containers. Compressing waste enables us to realise an efficient throughput speed during the breakdown of events. It saves some 100 transport movements on an annual basis, resulting in reduced CO₂ emissions.

Separation containers

Separate containers for different kinds of waste were used during the breakdown of events in 2023. A pilot project at two events involved so-called Goodie collectors, who inform exhibitors and help them separate waste during and after events. This resulted in an average residual waste percentage reduction of 14%. We also placed new waste bins for visitors that help them directly separate waste, and implemented new movable outdoor bins with ashtrays to further reduce litter.

Circular carpet tiles

All carpet in the RAI is being replaced by circular carpet tiles that are eligible for the Dutch government’s Mia and Vamil tax schemes for investing in environmentally friendly technology. The first 1,200 m² have already been placed in the renovated hall G with the remaining carpets expected to be replaced by 2029. We’ve also implemented a new ‘circular furniture and furnishing’ policy for conference and office furniture.

Company clothing reused in vehicle upholstery

All employee company clothing, shoes and helmets are reused or recycled into a raw material for vehicle upholstery. Some 60% of the material that is no longer usable for RAI Amsterdam is given a new life or recycled, with 1,825 kg of RAI clothing and shoes processed in 2023. Sustainability and circularity were also a major focal point in the selection of suppliers for the new company clothing.

A flourishing RAI in a flourishing environment

Municipal vision

In line with the new policy framework for ‘connected parties’, the City of Amsterdam’s municipal executive has combined the various public interests involving the RAI in a unilateral vision. This vision can best be summarised as working towards ‘a flourishing RAI in a flourishing environment’. It is the council’s starting point for reaching agreements with RAI Amsterdam on how public interests can best be served and how Amsterdam, RAI Amsterdam and other partners can contribute. The municipal executive is positive about the plans and sees the potential added value of what we refer to as the ‘2030 masterplan’. There are still many steps to take toward its realisation and lot of choices remain open, which the executive plans to make within the frameworks of the formulated vision and in close consultation with RAI Amsterdam.

In the interests of the city

The public added value of the masterplan focuses on the challenges that our direct surroundings and the city of Amsterdam will face in the future. Part of this plan involves an integrated sustainable approach to themes such as energy, mobility, logistics, climate resilience, heating, cooling and biodiversity.

Consultancy company Arcadis performed a social costs and benefits analysis of the masterplan in 2020 and concluded that it will make a positive contribution to the earning capacity of the Netherlands and improve the living environment of Amsterdam and the region. The urban effects in the field of air quality, noise and traffic safety are important to the residents of Amsterdam, and contribute to city council goals related to its programmes for reducing traffic in the city (Amsterdam Autoluw) and having cleaner air (Actieplan Schone Lucht). The construction of a green strip on Wielingenstraat and green roofs on our buildings contribute to council goals related to biodiversity and climate. The masterplan also includes a reduction in the number of traffic movements due to various developments such as the hub function and standbuilding/circularity. This is having a positive effect on the climate, which in turn enables Amsterdam to contribute to the national climate agreement.

The masterplan is initially focused on investing in the digitisation and modernisation of the venue. These investments are crucial for preserving the economic spin-off value of the RAI for the city. Secondly, the masterplan focuses on transforming the RAI premises into a sustainable and multifunctional meeting place. The starting point is the realisation of an infrastructure that will make the RAI’s logistic processes more efficient, effective and flexible.

In addition to new real estate for existing RAI functions, the masterplan also includes opportunities related to the housing challenges facing Amsterdam. We are exploring the option of multifunctional facilities that combine living, working, learning and innovating. The addition of these functions and the associated infrastructure and facilities will make the RAI premises more accessible, including to people not visiting our events. The transformation and blending of RAI and non-RAI functions will make our premises more attractive to Amsterdam residents in a recreational and sporting sense. An addition of retail and hospitality in the area along Europaweg will enhance the appeal of the route from the RAI train station via the hotel nhow Amsterdam RAI to the RAI premises. Further development of the plan aims to ensure that the route design and any limited addition of commercial facilities on the RAI premises does not affect the already available retail and hospitality venues in the vicinity, instead having a strengthening and complementary effect.

A well-organised and safe (main) cycling route from the Beatrixpark through the heart of the RAI premises to the surrounding neighbourhoods (Kop Zuidas and Rivierenbuurt) and vice versa is a major pillar of the masterplan. In addition, the RAI aims to reduce waste streams and recycle any remaining waste via various means, including modular and circular standbuilding.

In development

The masterplan is not strictly outlined and needs to be further developed. It is vital to simplify this process, reduce the number of dependencies and integrate flexibility and freedom of choice into the detailed plan. The masterplan will gradually take shape as a growth and choice model, with development areas being prepared and implemented in phases.

Modern convention centre at the heart of the city

City of Amsterdam development strategy

The 2035 Development Strategy plan published in 2024 describes how Amsterdam will develop in the medium term. It is based on the 2050 Environmental Vision plan in which the city council laid out its long-term vision for vital neighbourhoods. Increasing sustainability in terms of energy and making existing neighbourhoods waterproof is another key focal point. This also demands improving accessibility, enhancing green areas and upgrading the facilities.

Growth and more intensive use of the city also entails expanding transport and utility systems, living and recreational areas, facilities, shops and room for employment and cultural expression. The strategy should therefore create space for new residential construction locations as well as other aspects of a complex city.

Over the past three decades, the Zuidas district in which RAI Amsterdam is located has become the main international office location in the Netherlands. The neighbourhood is already developing the vibrancy you would expect for such an urban core. To further facilitate this, homes and facilities are being added and the public space is being enhanced and made greener. Moreover, the role of cars is being reduced to the benefit of pedestrians, cyclists and public transport. The core development is also aimed at meeting the current preferences of (international) business, which is increasingly looking for locations at the heart of lively areas with the functional mix of a city centre environment. This also makes the Zuidas ready for a future as Amsterdam’s central business district.

The Zuidasdok infrastructure project and the development of the Zuid train station as a hub for international rail transport further boost the area’s core development. The station is playing a key role in the desired replacement of short-distance flights with rail travel, while the extension of the North/South metro line to Schiphol will further enable the growth of international train transport and strengthen the relationship between the Zuidas district and the airport. The bicycle connection to the Schinkelkwartier neighbourhood also stimulates this part of the city.

Amsterdam protests against proposed erotic centre

In early 2023 the city council named three preferred locations for a new erotic centre, two of which were in the Zuidas district. Many meetings and public consultations have been held, including in RAI Amsterdam, as residents expressed their displeasure with the plans. In late 2023 the council announced its preference for a location adjacent to Amstelpark, on the other side of the A10 ring road from the RAI. This means the locations in Amsterdam North and close to the RAI are no longer in play. The decision as to whether the erotic centre will eventually be realised and, if so, how, has yet to be taken.

An organisation for people, by people

Our employees (over 370 FTE) make RAI Amsterdam a close-knit team in which everyone works together in an enthusiastic and driven way. Young and old, with varying backgrounds and levels of experience, our staff work hard every day to make each event successful. RAI Amsterdam is a company for people, by people. We realise our company goals to a large extent by empowering employees with responsibilities, streamlining their tasks and enabling them to make the most of their talents. RAI Amsterdam is for everyone – and this includes candidates in the labour market. Our diversity profile is designed to be in line with society, our clients and our other stakeholders.

PreparationsforChef'stable

Employee satisfaction

Employee satisfaction is a crucial yardstick and instrument for the ongoing improvement of our company. The regular survey was again held in 2023, designed to gauge the experiences of employees and record their suggestions for improvement. Major indicators are the employee net promotor score (eNPS) and the scores awarded by our staff.

The introduction of a European variety of the eNPS meant that the score was considerably higher in 2023 than in previous years. The eNPS in 2023 was +62, compared to +8 in 2018 and +21 in 2016. In the European eNPS measurement, a score from 8 to 10 is considered a promotor score (previously only applied to scores 9 and 10). Scores 6 and 7 are now considered neutral (previously 7 and 8). This measurement is more in line with the European scale of reporting with scores up to 10, in which an 8 is considered ‘good’ and 6 ‘sufficient’. Compared to the previously-used scale, we saw a slight improvement compared to our score of +8 in 2018.

Some 70% of the employees considered their work at RAI Amsterdam in 2023 as good or very good (2022: 78%). While this question was not directly asked in the latest survey, making a one-on-one comparison difficult, a calculation was made based on various scores given per theme. The four themes of work content, working environment, working conditions and relationships & communication with co-workers all scored between 7 and 8 on the ten-point scale. The engagement and pride themes scored an average of 6.8 and the work pressure level was 6.6.

The results and associated action points were discussed and evaluated per team or department at various times throughout the year.

Labour market and acquisition

RAI Amsterdam was able to attract the right employees for relevant positions in the organisation in 2023 despite the tight labour market. In late 2023 the occupancy was almost at the desired level of formation. In total we welcomed 92 new colleagues (2022: 108). The experience we give interns also regularly results in employment at RAI Amsterdam. The employee turnover rate was reduced to less than 10%.

Diversity policy: determined & implemented

RAI Amsterdam for everyone

In 2023 RAI set down a diversity and inclusivity policy that promotes inclusion as a primary focal area. We see an inclusive culture as the foundation for a working environment in which everyone feels welcome, valued and heard. It also serves as the key to improving diversity as a whole. In specific terms, we are promoting a sense of belonging and social safety based on the D&I benchmark in 2022 and input from our focus groups.

Although diversity is crucial, we have chosen not to highlight specific themes such as LHBTIQ+, cultural background and gender as much as before. This does not mean these themes are unimportant to us – on the contrary, they are integrated within our policy and addressed indirectly. Our vision remains to embrace both diversity and inclusion.

Balanced male/female ratio

At the end of 2023 we had a well-balanced employee database with 54% female and 46% male staff (on an FTE basis).

Talent to the Top charter goals achieved

The objective in the field of gender diversity as described in the Talent to the Top charter was also met: the share of women in the policy team and second echelon of managers is 49% (2022: 50%).

Employee contract terms

In late 2023, 78% of the RAI Amsterdam employees had a permanent contract and 22% a temporary contract. In 2022 this was 76% and 24% respectively.

Temporary staff

RAI Amsterdam faces major peaks in staff occupancy as an organiser and facilitator of events, which is why we often bring in temporary employees. In 2023 this involved 3,980 people (2022: 4,047). Adding up all hours, their joint efforts amounted to 190 FTE (2022: 156).

Interns

RAI Amsterdam offers work experience to many interns from a wide range of schools and institutions. In 2023, we accommodated around 85 interns (2022: approx. 80), including three work experience spots for intermediate vocational (MBO 1 and 2) students, and one in the framework of BBL & BOL practical training programmes.

Personnel composition

Below are some cross-section figures related to RAI Amsterdam’s employees.

Personnel

Position at end of year

Personnel, by age

/ FTE (balance at the end of the

Vitality

Employee fitness

Although absence due to illness was already low in 2022 at 4.9%, it was reduced still further in 2023 to just 3.1%. This can be considered very limited, especially compared to other companies, and was partially the result of a fall in longterm absence due to illness cases.

Absence due to illness Percentage

Flat

organisational

structure

The organisational structure of RAI Amsterdam is flat and transparent: see section 4 Governance below for an overview of the departments.

The Commerce discipline was split up in the reporting year. Diddy Durant was appointed as Director Business Development and now heads the eponymous department. Annette Bos has become Director of the Markets department. Both are members of the RAI management team.

Remuneration policy in line with market average Directors, managers and employees are paid salaries in line with the market average. The pay ratio that reflects the total remuneration of the best-earning director compared to the average employee is 7.0 (end 2022: 7.1).

Works council

Frequent

and constructive dialogue

A frequent and constructive dialogue was held with the works council in 2023. In addition to formal meetings with the Board, the dialogue took place in a number of subcommittees such as the HRM committee, financial committee, working conditions committee, terms of employment committee, pensions committee and temps committee.

Topics discussed included the restructuring of RAI Amsterdam, the division of the Director Commerce function into two roles (Director Markets and Director Business Development), the implementation of the Senior and Team Manager positions, the extension of the pension schemes, the employee satisfaction survey, changes to the whistleblower scheme, and the CSRD guidelines for sustainability reporting. Another focal point was safety, and there was an annual meeting about improving working conditions which included the topic of remuneration levels.

The works council made various proposals for initiatives such as increasing the kilometre allowance for commuting and appointing an internal confidential counsellor. The Executive Board adopted these proposals. Members of the Supervisory Team joined the formal meetings twice in this book year.

Elections

The works council held its regular elections in November. It applies a term of four years, with half the council stepping down every two years. In view of the rise in the number of employees, the works council was expanded from nine to 11 members. The division of the council into electoral groups ensures a diverse composition.

Prospects

RAI Amsterdam expects 2024 to be an excellent exhibition year and likely to exceed the 2023 results in terms of visitor numbers and turnover. The recovery of the event industry, the increase in international exhibitions and conferences, and the interest in choosing Amsterdam as an event location gives us this confidence. Concerns about the consequences of Covid fell significantly in 2023. On the other hand, the geopolitical tensions in Europe are on the rise. Assuming a situation that remains unchanged in this respect, our expectations remain positive.

The RAI event calendar has also been enriched with a variety of exhibition and conferences over the coming years, including in the field of life sciences & health, technology and the creative industry, where scientists, business people and investors come together to discuss developments and challenges. We have entered into contract extensions with major international organisers who are keen to have their events take place in the heart of Amsterdam until at least 2028. These developments have confirmed our confidence in the chosen course. This trust is further underlined by our high personnel occupancy rate, low absence due to illness percentage, and the clear enjoyment and satisfaction of employees who are doing their utmost to make each and every event a major success.

In 2024 we will complete the legal restructuring (for more information, see section 4, Governance). The organisation will experience limited growth, with an enhanced strategy and a focus on making the 2030 area vision more concrete.

The Board thanks all stakeholders for their involvement.

Amsterdam, 28 March 2024

Executive Board of RAI Holding BV

P. (Paul) Riemens, CEO

M. (Maurits) van der Sluis, COO

Foreword

Dear reader,

Most stakeholders know RAI Amsterdam for its convention centre and simply call it ‘the RAI’. These premises are used to facilitate a wide range of events, small to large, international and local. What it is less commonly known is that RAI Amsterdam organises a number of large trade and consumer exhibitions itself; in the RAI on Europaplein, and in metropolises far beyond Europe such as Shanghai and Mexico City. RAI Amsterdam is an international company in many ways.

The year 2023 saw the world facing multiple challenges. Nonetheless, despite the geopolitical developments and challenging financial markets with high inflation and relatively high interest rates, RAI Amsterdam achieved very good results with a sustainable and profitable increase in turnover. One could almost forget that 2023 was actually the first year since 2019 that we were not affected by Covid. The fact that the company recovered so quickly and strongly while achieving such impressive results fills me with confidence for the future.

And that future was another focal point in various ways during the reporting year. Together with Amsterdam city council we made important steps in the development of the RAI’s 2030 masterplan. The City is keen to work with RAI Amsterdam in determining how the area around Europaplein can be developed. This includes aspects such as adding more greenery, increasing sustainability and strengthening Amsterdam as a conference city. The focal point in all of this is a smart transformation of the area based on a flourishing RAI in balance with its surroundings. We will achieve this by enhancing sustainability and densification, by ensuring our premises are well integrated within the urban fabric and by adding further value to Amsterdam. Meanwhile, we will maintain our focus on innovation in which the development of real estate is not a goal in itself for RAI

Amsterdam but a means to generate value and create an even more attractive area with added value for RAI visitors and exhibitors, the city and its residents.

We would like to express our gratitude to the Executive Board and all RAI Amsterdam employees and congratulate them on the good results, including the growth of exhibition titles. Finally, thanks to our clients, suppliers, shareholders and other stakeholders for their ongoing involvement, support and cooperation.

On behalf of my fellow Supervisory Board members,

Otto Ambagtsheer Chair

Supervisory Board statement

The Supervisory Board hereby presents the Annual Report of RAI Holding BV.

It was compiled by the Executive Board and includes the financial statement for 2023. Deloitte Accountants BV has checked the financial statement and provided it with an approved audit statement.

Consultations between Supervisory Board and committees

The Supervisory Board held four scheduled meetings in 2023, with a 100% attendance from all members. Recurring topics included the progress report (monitoring both financial and non-financial goals), the business update (focused on the main issues related to markets, clients and events) and the corporate annual plan. Other subjects included the reappointment of both Executive Board members and Supervisory Board member Annemarie Macnack-van Gaal, the 2030 masterplan, and changes to the company structure which are mainly aimed at separating the real estate and RAI exhibitions from the daily business of the convention centre. In addition, the new governance and integrity policies and the plans of Amsterdam council to build an erotic centre in the vicinity of the convention centre were discussed.

Auditcommittee

The audit committee – comprised of Michiel Boere (chair) and René Takens – met four times in 2023 in the presence of the Executive Board and financial director. Items discussed include the 2022 Annual Report, the 2022 financial statements, the 2022 accounting report and the 2023 audit plan. Other topics were current financing, repayment of the government’s Covid business loan (GO-C), the corporate finance trajectory initiated for the future, the budget, planned investments and the activities of RAI China, the dividend policy, the payment of a dividend including the dividend and eligibility test, the 2024 budget and the energy procurement policy for 2024. The audit committee also discussed in detail developments in the field of compliance and risk management, including with the risk & compliance officer. It found that the risks were well embedded in the business operations of RAI Amsterdam and was pleased with the progress made in this regard. In addition, the committee discussed the CSRD-GAP analysis, directors’ liability, data leaks, cyber-risk assessment, extension of the agreement with Deloitte for audit activities and an insurance case related to a cancelled event.

Remunerationcommittee

The remuneration committee and selection and appointment committee, both comprising Mariëlle de Macker and Annemarie Macnack-van Gaal, met several times in the reporting year, including twice with the Executive Board and HR manager. Issues discussed included organisational development and culture, the development of the management team and the personnel review (Management board + two echelons including succession planning). Diversity & inclusion were also discussed, including the creation and maintenance of a safe working environment and the use of confidential counsellors, the results of the employee satisfaction survey, and developments related to the labour market. There was a special focus on the company’s working conditions policy this year. As is the case every year, the Executive Board was evaluated. The committee supervised the self-assessment of the Supervisory Board and the process for reappointments to the Executive Board.

2030 Vision steering group

The future vision of the RAI is for ‘a flourishing RAI in a flourishing environment’. The 2030 Vision steering group includes representatives from both shareholders, the CEO, the financial director, the RAI company secretary, and Supervisory Board members Annemarie Macnack-van Gaal (chair of the steering group) and Otto Ambagtsheer. It discusses all aspects relevant to and required for this vision. Decision making takes place within the formal governance structures, which in this case is the general meeting, Supervisory Board and Executive Board.

Presentation

of annual report

The audit committee discussed the financial statement and 2023 annual report with the Executive Board and external accountants Deloitte. The Supervisory Board will propose that the shareholders confirm the financial statements and the 2023 annual report during the general meeting on 25 April 2024. The Supervisory Board proposes that the financial statements be confirmed, that the Executive Board be given discharge for its management and that the Supervisory Board be given discharge for its supervision.

Amsterdam, 25 April 2024

Supervisory Board RAI Holding BV

O. (Otto) Ambagtsheer, chair

A.M.H. (Annemarie) Macnack-van Gaal, vice-chair

M.P. (Michiel) Boere

W.C.M. (Mariëlle) de Macker

R.J. (René) Takens

Corporate governance

RAI Holding BV is a private company in accordance with Dutch law. Our governance is based on Book 2 of the Dutch Civil Code (BW), the statutes, our internal governance policy and various internal regulations. Our governance structure involves a general meeting, Supervisory Board, Executive Board and works council. A legal restructuring was implemented in 2023 which will be finalised in 2024.

Legal restructuring: which company do we mean?

Where this Annual Report says ‘RAI Amsterdam’ (without 'BV') or just 'RAI', we are referring to the name of our organisation and the company RAI Holding BV including its group companies. When we use 'the RAI' – preceded by ‘the’ – we refer to the convention centre on Europaplein in Amsterdam, i.e. a location rather than an organisation or company.

Where this report states ‘RAI Amsterdam BV (NEW)’ it refers to the company RAI Amsterdam BV with CoC number 92449174, newly established in the reporting year. Where the report uses ‘RAI Amsterdam BV (OLD)’ we refer to the company RAI Amsterdam BV with CoC number 34192575, established in 2003. This company will be renamed in 2024 as RAI Real Estate BV. As you can see, there are two companies with identical names, RAI Amsterdam BV, on the balance sheet date and the date of this annual report. This is a temporary situation due to the order of the restructuring process.

New legal structure

In the reporting year it was decided to change the legal structure of RAI Holding BV.

The main purpose is to prepare RAI Amsterdam for the planned area development of the location on Europaplein. This involves separating the real estate, RAI exhibition titles and daily operations of the convention centre into different legal entities: all activities previously took place under the auspices of one company, RAI Amsterdam BV (OLD). The division took place on 28 December 2023, with the establishment of RAI Markets BV (CoC number 92449166) and RAI Amsterdam BV (NEW). In this framework, all activities related to the organisation of the RAI titles were transferred by universal title to RAI Markets BV and all activities related to the daily operations of the convention centre were transferred by universal title to RAI Amsterdam BV (NEW). The real estate remained in RAI Amsterdam BV (OLD). This company will be renamed RAI Real Estate BV over the course of 2024.

A second goal of the restructuring was to place a number of RAI-owned exhibition activities in separate entities. A second division was carried out on 5 March 2024, in which the following companies were separated from RAI Markets BV: RAI Cleaning Technology BV, RAI Horticulture BV, RAI Marine Technology BV, RAI Mobility BV and RAI Water Technology BV. These companies will then be active in the respective domains indicated by their names.

Governance policy

In 2023 the Executive Board and Supervisory Board established and confirmed an internal governance policy. This policy replaces the Corporate Governance Code as a policy framework. The regulations of the Executive Board and Supervisory Board were also updated in view of the new governance policy.

Organisational structure

TheRAI’smanagementteamcomprisesthestatutoryExecutiveBoard,plusfourtitulardirectorsand threebusinesssupportmanagers.

Composition of the Executive Board

The statutory Executive Board consists of two people.

P. (Paul) Riemens (1962), CEO

Appointed to first term on 7 April 2016. Reappointed on 16 December 2023 to third term from 7 April 2024 to 7 April 2028. Dutch national. Areas of expertise: Finance, HR, ICT, Legal and Venue. Supervisory Board (RvC) memberships: none. Additional functions: member of the Supervisory Board (RvT) of NEMO Science Museum, member of the Advisory Board of the University of Amsterdam for economics & business, chair of Concours Hippique International Jumping Amsterdam.

M. (Maurits) van der Sluis (1965), COO

Appointed to first term on 7 April 2016. Reappointed on 16 December 2023 to third term from 7 April 2024 to 7 April 2028. Dutch national. Areas of expertise: Events, Markets, Business Development, Marketing & Communications & CSR. Supervisory Board (RvC) memberships: none. Additional functions: member of UFI Board of Directors. chair of The Leading Centers of Europe, treasurer of the Voorfinanciering- en Garantie Fonds foundation, vice-chair of Nederlandse Ski Vereniging, board member of Stichting Vrienden Stadsarchief Amsterdam, member of the Supervisory Board (RvT) of Stichting Cardiologie Centra Nederland / Sionsberg Netwerk Ziekenhuis.

PaulRiemens(right)andMauritsvanderSluis(left)

Composition of the Supervisory Board

Lefttoright:MichielBoere,AnnemarieMacnack-vanGaal,OttoAmbagtsheer,MariëlledeMackerandRenéTakens

The Supervisory Board consists of five members.

O. (Otto) Ambagtsheer (1969), chair

Appointed to first term as member on 1 November 2020 for four years. Dutch national. CEO of VIA Outlets.

A.M.H. (Annemarie) Macnack-van Gaal (1962), vice-chair

Member of the Remuneration Committee, member of the Selection and Appointment Committee. Appointed on 15 September 2015. Reappointed to third term for two years on 12 December 2023. Dutch national. Chair and speaker, columnist for the De Telegraaf newspaper, member of Supervisory Board of Pathé Holding BV, member of Supervisory Board of Stichting Waarborgfonds Eigen Woningen (Nationale Hypotheek Garantie), board member of Start Foundation, member of Committee of Recommendation for Het Vergeten Kind foundation, member of Advisory Board of Dienst Uitvoering Onderwijs (DUO), member of the Advisory Board of NOB, ambassador for SOS Kinderdorpen.

M.P. (Michiel) Boere (1982)

Chair of the Audit Committee. Appointed to first term on 1 November 2020 for four years. Dutch national. CFO Remote. Advisor Cheaf Technologies, member of the Advisory Board of NOB.

W.C.M. (Mariëlle) de Macker (1967)

Chair of the Remuneration Committee. Chair of the Selection and Appointment Committee. Appointed to first term on 17 March 2017. Reappointed to second term on 21 April 2021 for four years. Dutch national. Owner of MCKR-inbusiness. Member of Supervisory Board of MSD Animal Health, member of Supervisory Board of Van Loon Group, vicechair of Supervisory Board of Maastro Clinics, Board member of Stichting Talent naar de Top, advisor Human Capital & Leadership Innovation Industries.

R.J. (René) Takens (1954)

Member of the Audit Committee. Appointed to first term on 1 October 2021 for four years. On recommendation of shareholder RAI Association. Dutch national.

Shareholders

RAI Amsterdam (RAI Holding BV) has two shareholders: the RAI Association and the City of Amsterdam.

RAI

Association

The RAI Association owns 75% of the shares in RAI Amsterdam. This trade association promotes the interests of manufacturers and importers of passenger cars, trucks, trailers, bodywork and special vehicles, motorcycles and scooters, mopeds and bicycles.

Amsterdam city council

The remaining shares are owned by the City of Amsterdam.

Dividend

policy and payment

Although it had previously been common practice to determine the dividend policy for a five-year period, this

did not take place in 2019. A one-off dividend of €9.9 million to be paid in 2020 was determined at that time. The final €3.75 million of this payment was delayed as a result of the pandemic and eventually paid in the summer of 2023. Dividend payments could not be made sooner due to the company closure caused by Covid and until the government’s GO-C loan and other financing had been fully paid off. In 2023 we discussed a new dividend policy that meets the wish for a stable and fixed dividend on the one hand while offering RAI Amsterdam the room to invest and innovate on the other.

Risk management

RAI Amsterdam continuously works on the structural and systematic control of risks. Risk management is embedded in the strategic and operational processes. The integrated risk management system covers all levels of the business operations and all parts of the company. We re-analysed, registered and monitored the risk and control measures again in 2023 and the analysis also included fraud risks that were identified.

Risk attitude and appetite

Entrepreneurship is one of the core values of RAI Amsterdam and involves having the appetite to take risks in a controlled way. The goal of risk management is therefore not to exclude risks but to gain insights that enable us to properly address opportunities and threats. RAI Amsterdam does limit its risk appetite in other ways. Financial risks, for instance, may not threaten its financial resilience. RAI Amsterdam always aims for a healthy safety margin with regard to its main financing ratio (net debt/EBITDA) of 15%. This implies a constant availability of contracted financing capacity of at least €10 million as a liquidity buffer. RAI Amsterdam aims to be a safe meeting place and is aware of its responsibility to keep locations and events safe, healthy and accessible. In this framework, the company aims to limit security and health risks as much as possible. Compliance with laws and regulations is the starting point. RAI Amsterdam seeks to minimise the risks of non-compliance and applies a very low tolerance in this field. Integrity is important and a zero-tolerance policy is applied with regard to fraud and corruption. The risk attitude of RAI Amsterdam can be schematically represented as follows.

RAI Amsterdam’s risk attitude

Organisation based on 'three lines of defence' model

In setting up its risk management system, RAI Amsterdam applied the 'three lines of defence' model, a structure of measures comprised of the operational line, risk management function and internal audit function.

The first line of defence is primarily responsible for the operational management and takes ownership of controlling related risks. This control is realised via an adequate set-up of the organisation with regard to structure and processes as well as culture. The second line of defence consists of the risk & compliance function that supervises the set-up and functioning of the risk management system. The second line supports the first line, coordinates and reports to the Board and line management. The third line of defence comprises an independent internal audit function with a scope that is specifically focused on environmental and quality management in line with ISO 9001 and ISO 14001. Based on an internal audit plan, which is updated annually, the function supervises the set-up, existence and functioning of the control measures.

A risk & compliance board oversees progress every quarter, with the Executive Board, senior management and the risk & compliance officer taking part. The Board monitors the effective functioning of the system and, together with the company, aims for continuous improvement and strengthening.

Focus on realising goals

Risk management and internal control are dynamic processes. RAI Amsterdam aims to identify and manage the risks that can occur when realising strategic, tactical and operational goals to a reasonable degree of certainty. Control measures taken in this framework are focused on reducing the chance that the risk will occur and/or reducing any impact that the risk might have should that be the case. To ensure risk management functions well, it is crucial that it is properly embedded in the operational processes and integrally applied. The risk management system developed by RAI Amsterdam is based on the principles of various standards including ISO 31000 and COSO. Although we try to limit this as much as possible, it cannot be excluded that risks which are currently unidentified or considered insignificant will later have a major negative effect on the capacity of RAI Amsterdam to realise its goals.

Supervision

The Supervisory Board monitors the operations of RAI Amsterdam and approves (changes to) the risk management policy. Risk management is also regularly included on the agendas of meetings of the audit committee and Supervisory Board. The Supervisory Board employs the external accountants and approves their audit plan on an annual basis.

The external accountant also acts as supervisor and monitors the set-up, existence and (where necessary) functioning of the administrative organisation and internal supervision based on an annually updated audit plan. The external accountant reports to the Supervisory Board via an audit report and a statement in the annual report.

Risk inventory and assessment

An integrated update of the risk assessment was implemented during 2023 in light of the cyclical evaluation of current developments and any adjusted organisation goals. Due to the explicit connection to the goals of RAI Amsterdam, risk management strengthens the performance management. There are 17 risks in total which are considered most relevant and are often interconnected. RAI Amsterdam has determined sub-risks for these 17 domains and defines, implements and monitors control measures. Evaluating the actual risks involves assessing both the current risk of an incident occurring and the likely current consequences (measured in financial terms) this might have.

Important risks and mitigating measures

Strategyformationandexecution

Strategic and operational manoeuvrability is crucial in turbulent times. The six strategic pillars of RAI Amsterdam were once again leading in all our activities and initiatives in 2023. Towards the end of the year RAI Amsterdam started an integrated programme aimed at updating its strategy for the coming years. In line with this, considerable attention will be paid to how the company can effectively work towards realising its strategic goals.

Marketandcompetition

The commercial playing field and competitive position of RAI Amsterdam can be affected by activities or developments by competitors and potential market partners. With this in mind, a strategic portfolio policy has been developed and a close eye is kept on its market position. The company proactively assesses its opportunities in this field, which are then translated into a market strategy per domain, with the inclusion of changing client preferences. Sustainability and digitisation are increasingly important in this respect.

Outsideinfluences

Developments in the environment of a company can have a material impact on the extent to which strategic goals can be realised. In many cases, RAI Amsterdam has a limited impact on events and our main focus is on how best to manage their consequences. The pandemic, for example, hit RAI Amsterdam at its core and 2023 was the first full year that we could go about our business again without restrictions since it began. The war in Ukraine and resulting energy crisis has also had a major effect on the company, although less so in in 2023. What these events have reinforced is the importance of an energy transition, both in the framework of costs and for increasing the sustainability of RAI Amsterdam. It is a complex issue with many uncertain variables that cannot be easily resolved and RAI Amsterdam is preparing itself in a programmatic way.

Tightlabourmarket

The labour market has been under pressure for a longer period. While RAI Amsterdam is an attractive employer and manages in general to fill its vacancies, it remains difficult to attract and retain suitable talent in a few specific segments. This could make the company vulnerable to staff turnover. Customised recruitment and strategic personnel planning mitigate this risk to a significant extent. The agency staff market is also tight, making it uncertain that we can attract a sufficient number of temps in due time. This in turn can put pressure on our business activities. The risk can be mitigated by proactively and closely aligning the expected capacity demand in advance with temporary staff agencies and service providers.

Cybercrime

Cybercrime is one of the greatest threats to businesses worldwide, and RAI Amsterdam is by no means immune. We have therefore defined a cyber security policy and are taking organisational and physical measures to mitigate this risk as much as possible. The intention is also to reduce consequential risks such as operational disruptions and the loss of privacy-sensitive information.

Economicclimate

The economic climate stabilised somewhat in the past year. While the exceptionally high inflation rates fell, considerable uncertainty remains related to its future development. This is also relevant to RAI Amsterdam as inflation costs put pressure on the profitability of our business and there is a limit to the options available for passing on rising costs in the prices of other products and services. Dedicated cost savings and margin management are used to mitigate the effect of these developments where necessary.

Safetyandsecurity

RAI Amsterdam is a multifunctional venue where lots of people come together. This can have health & safety risks and involve a risk of property theft for visitors and employees. RAI Amsterdam has therefore developed an integrated safety management system that involves a risk-based focus on strategic and operational safety management issues. It also

mitigates as much as possible the risk of business interruption caused by calamities. The effective functioning of these measures is monitored. RAI continuously invests in organisational, technical and IT related solutions to ensure the safety of its employees, visitors and the venue.

Financialrisks

Financial risks usually originate from underlying strategic, operational or compliance risks, and the related control measures take place within the spectrum of financial management and treasury. The focus is on strengthening the financial resilience and profitability of the company in the short and long term.

Reputation

As any damage to the reputation of RAI Amsterdam can have major long-term consequences for the company, a range of mitigation instruments have been deployed. A compliance management system has been set up to ensure that laws and regulations are closely observed. An integrity policy helps prevent undesirable or dishonest behaviour. Intensive stakeholder management is partly focused on consolidating the good reputation of RAI Amsterdam, while a corporate communication policy ensures effective communication to all stakeholders.

Compliance management

RAI Amsterdam aims to comply with all legal and licence-related requirements and guidelines that apply to the company. This also goes for the standards and guidelines with which the RAI organisation has chosen to comply. RAI Amsterdam aims to minimise the risks of noncompliance as much as possible. It has a low tolerance in this respect and has established a compliance management system.

In setting this up we closely followed the starting points and principles of the ISO 19600 standard for compliance management wherever possible. Key starting points included:

A dedicated, structured approach to a continuous process;

A clearly defined scope and a risk analysis-based prioritisation in the context of the specific characteristics of the RAI organisation;

A clear division and appointment of tasks and responsibilities, with a leading and committed role for senior management;

A cyclical process that enables RAI Amsterdam to be a learning organisation;

A focus on culture and behaviour in line with the core values;

Transparency regarding the compliance approach and the way non-compliance is handled.

The compliance management system has comprehensively mapped out the obligations of RAI Amsterdam and secured compliance via programmes. The progress is constantly monitored and discussed in the risk & compliance board, which includes the Board, senior management and the risk & compliance officer.

1.1. Consolidated balance sheet (before proposed appropriation of results)

Consolidated balance sheet Beforeproposedappropriationofresults,Amountsx€1,000

2.1. Consolidated profit and loss account

Consolidated profit and loss account

Consolidated overview of total result Amountsx€1,000

3.1. Consolidated cash flow statement

Consolidated cash flow statement Amounts x €1,000

Adjustments for:

General

RAI Holding BV (also referred to as ‘the company’) has its registered office in Amsterdam (on Europaplein 24), Chamber of Commerce number 33093880. The company’s financial year runs from 1 January to 31 December.

Activities

RAI Holding BV is a holding company. Its main activities are accommodating RAI Amsterdam’s own events and providing facilities to third parties for exhibitions, conferences, corporate events, theatre productions and niche events.

Continuity

These consolidated financial statements have been prepared assuming that the company will continue as a going concern.

General principles for valuation

The annual accounts were drawn up in accordance with the generally accepted principles for financial reporting in the Netherlands and meet the legal provisions regarding the annual accounts recorded in Title 9, Book 2 of the Netherlands Civil Code (BW). The principles for the valuation of assets and liabilities were applied consistently during the previous and current year. The principles for valuation and result determination apply to both the consolidated and company annual accounts.

Shareholder structure

RAI Association has a 75 per cent interest in RAI Holding BV. The remaining 25 per cent of the shares are held by the City of Amsterdam.

Principles of consolidation

The financial data of RAI Holding BV and all its group companies is consolidated. Group companies are participations over which RAI Holding BV has decisive control. The other participating interests are not consolidated.

The financial information of companies acquired during the year under review is consolidated from the moment that RAI Holding BV acquires decisive control over the companies concerned until the moment this control is terminated. Transactions between companies that are consolidated are eliminated.

In the reporting year it was decided to change the legal structure of the group companies of RAI Holding BV. The main purpose is to prepare RAI Amsterdam for the planned development of the area around the RAI location on Europaplein. The real estate, RAI exhibition titles and daily operations of the convention centre have been separated into different legal entities: all activities previously took place under the auspices of one company, RAI Amsterdam BV (OLD), established in 2003 with CoC number 34192575. The division took place on 28 December 2023, with the establishment of RAI Markets BV (CoC number 92449166) and RAI Amsterdam BV (NEW), with CoC number 92449174. In this framework, all activities related to the organisation of the RAI titles were transferred by universal title to RAI Markets BV and all activities related to the daily operations of the convention centre were transferred by universal title to RAI Amsterdam BV (NEW). The real estate remained in RAI Amsterdam BV (OLD). This company will be renamed RAI Real Estate BV over the course of 2024. On the balance sheet date and the date indicated in this Annual Report, there are therefore two companies with the identical name RAI Amsterdam BV. This is a temporary situation due to the sequence being followed in the restructuring project.

RAI Holding BV has 100% of the shares in the following subsidiaries: RAI Amsterdam BV (OLD), RAI Amsterdam BV (NEW), RAI Solar Energy BV, RAI Markets BV and Arfora BV. These companies are all situated in Amsterdam, and include the results of the following indirect participations (100%): RAI USA, Inc., Delaware (USA), Rui Ang Exhibition and Convention Co., Ltd., Shanghai (China), RAI TURKEY ULUSLARARASI FUARCILIK VE GOSTERI HIZMETLERI ITHALAT IHRACAT TICARET LIMITED SIRKETI, Istanbul (Turkey. The results of the indirect 50% participation in IBEX LLC, Maine (USA) and E.J. Krause RAI Events LLC, Delaware (USA) are also included.

Error recovery

Adjustments have been made to the comparative figures presented in the 2023 financial statement taking into account the nature of the item and insights into the financial information. These adjustments have been evaluated in the context of error correction and are not considered material for the understanding of RAI Holding's financial statement.

In 2023 the Executive Board assessed the methodology for clarifying the remuneration of the directors and the presentation of the deferred tax liability for which a generic payment scheme was set up. It concluded that the presentation of these sections should be amended.

As a result, the amount in remuneration to the directors over 2022 was amended. For further information, see the notes in 2.1.3 (Personnel costs). The deferred tax liability was also reclassified in 2022 to the long-term liabilities section for the part that expires over more than one year. For further information, see section 1.1.7. (Long-term liabilities).

Functional currency

The items in the annual accounts of the group companies are valued in accordance with the currency of the economic environment in which the group company mainly performs its activities (the functional currency). The consolidated annual accounts were drawn up in euros; the functional and presentation currency of RAI Holding BV.

Transactions, receivables and liabilities

Transactions in foreign currencies are converted at the exchange rates at the time of the transaction.

Monetary assets and liabilities are converted into the functional currency at the exchange rates on the balance sheet date. The resulting exchange differences are included in the profit and loss account, unless hedge accounting is applied.

Non-monetary assets that are valued in a foreign currency at acquisition cost are converted at the exchange rates valid at the time of transaction.

Non-monetary assets valued in a foreign currency at the current value are converted at the exchange rates which applied at the time the current value was determined.

Conversion differences in long-term inter-group loans that are actually an expansion or reduction of the net investment of foreign participations will be credited or charged directly to the equity in the statutory reserve for exchange differences.

If loans were entered into in a foreign currency to finance or cover the net investment in a foreign participation, the exchange rate differences resulting from the loan will be processed in the statutory conversion differences reserve insofar as the loan is effective as coverage for the exchange differences on the net investment in the foreign participation.

The assets and liabilities of the participations included in the consolidation at a functional currency that is different than the presentation currency will be converted at the exchange rates on the balance sheet date. The profits and losses are converted at the exchange rates at the time of transaction. The resulting conversion differences will be credited or charged directly to the equity in the statutory conversion differences reserve.

Use of estimates

The management of RAI Holding BV makes certain estimates and suppositions in accordance with the generally accepted principles of financial reporting in order to help determine the included figures when drawing up the annual accounts. The factual results can deviate from these estimates.

The estimates and underlying suppositions are regularly evaluated. Revisions of estimates are recorded in the period in which the estimate is revised and in future periods affected by the revision.

Financial instruments

Financial instruments include both primary financial tools such as receivables or debts, and financial derivatives. Please see the description for each balance sheet item for the principles of the primary financial instruments.

RAI Holding BV applies hedge accounting based on documentation for each individual hedge relationship, and documents how the hedge relations fit in with the goals of the risk management, hedge strategy and expectations regarding the effectiveness of the hedge.

The effective part of the financial derivatives assigned to cost-price hedge-accounting is measured at cost value while the ineffective part is measured at fair value. The valuation changes of the fair value of the ineffective part are immediately processed in the profit and loss accounts.

Principles for the valuation of assets and liabilities

The assets and liabilities are valued at nominal value unless the notes for the individual items indicate otherwise.

Intangible fixed assets

Externally acquired exhibition titles are valued at cost price or market value if lower, and are depreciated over their economic life, which is assumed to be 20 years at most.

The economic life of the IBEX exhibition title is assumed to be 15 years at most.

Software is valued at historic cost and depreciated over its economic life, which is assumed to be ten years at most. Operating rights are valued at acquisition price and depreciated annually based on the term of these rights.

Tangible fixed assets

Tangible fixed assets are valued at their acquisition price, minus straight-line depreciation based on their economic life and minus any special depreciation.

Maintenance costs for buildings owned are immediately charged to the results, or entered as assets and depreciated if the asset criteria allow. The depreciation calculation takes the residual value into account, which is expected to be nil in all cases.

Financial fixed assets

Participating interests over which significant control is exercised over business and financial policy are stated at their net asset value, determined on the basis of the accounting principles of RAI Holding BV. Participating interests over which no significant control is exercised are stated at the acquisition price or current value if lower.

Receivables from and loans to participating interests as well as other receivables are stated at the fair value in the initial processing, then valued at the amortised cost minus the necessary provisions.

Special depreciation of fixed assets

An evaluation is made each year to check for any indications of intangible, tangible or financial fixed assets being subject to special depreciation. Special depreciations apply when the balance sheet value of the asset is higher than the realisable value. In such cases the relevant asset is devalued to the realisable value. The loss is immediately processed as an expense in the profit and loss accounts.

Receivables

Receivables are stated at fair value in the initial processing, then valued at the amortised cost, which is the same as the nominal value minus any provisions for doubtful debts. These provisions are determined based on an individual assessment of the receivables.

The receivables have an expected term of up to one year, unless stated otherwise.

Stock

The stock mainly involves food & beverage products of which the valuation is determined at acquisition costs, minus a provision for obsolescence where necessary.

Securities

Securities are stated at their cost or market value on the balance sheet date, whichever is the lower. The market value is in principle equal to the value quoted on the stock exchange. If a sale is expected in the short term, the directly realisable value is considered the market value.

Liquidities

Liquidities are at the disposal of the company.

Provisions

Provisions are included for all legally binding or factual obligations resulting from an event before the balance sheet date where an export of capital is expected to be required for the fulfilment thereof and of which the scope can be reliably estimated.

A provision for long-service payments is included based on the valid long-service scheme per balance sheet date, taking into account the likelihood of continued employment, future labour cost developments and discount provisions.

A provision is included for bonus schemes and participations based on relevant performance schemes. This provision is included under current liabilities.

Pension scheme

The company has two active pension schemes for its employees. Those who started working for the company before 1 January 2013 are subject to a pension provision that qualifies as a defined benefit plan, in which the defined pension payments are based on average pay. This pension scheme has been placed with a pension insurer. It is processed in the financial statements as a defined contribution scheme due to the fact that the obligations for realising this pension scheme are entirely reinsured.

Employees who started working for the company since 1 January 2013 or those who have voluntarily switched to the new pension scheme are subject to a premium scheme with the nature of a defined contribution agreement in which the company obligations are limited to making an annual contribution to the insurance company. Future payable contributions will partly depend on the development of the employment conditions and the returns on the invested contributions achieved by the insurer.

Long-term liabilities

Long-term liabilities include debts with a remaining term of over one year. These debts are stated at the fair value in the first processing and then valued at the amortised cost.

Current liabilities

Current liabilities are stated at their fair value in the first processing and then at the amortised costs. They have an expected term of less than one year. A provision is included for bonus schemes and participations based on relevant performance schemes. There is also a provision included for contractual agreements with employees.

(Deferred) corporation tax

Temporary differences between the determination of profit for commercial and tax purposes are stated at their nominal value in the balance sheet as a tax deferral or asset. Deferred claims for corporation tax on account of tax-deductible losses are valued at the future tax rate on the balance sheet date in so far as it can reasonably be expected that the claims are realisable.

RAI Holding BV is the leading company of a group that is treated as a single entity for tax purposes. The other members of the group are RAI Amsterdam BV, RAI Solar Energy BV and Arfora BV.

Principles for determination of results

Revenue

The financial statements have been prepared on the basis of historical cost. The revenue recognition applies to all categories as specified under 2.1.1. The net turnover includes revenue from the delivery of goods and services as specified under 2.1.1, minus discounts and the like and turnover tax. Revenue and expenses are accounted for in the period during which the activity is performed. For exhibitions and events this is the period in which the event takes place. Profits are accounted for in that period. Losses and risks that originated before the end of the financial year are processed if and insofar as they became known before the annual accounts were drawn up.

The revenue and expenses for participations in which RAI Amsterdam plays a deciding role are consolidated proportionally. For participations in which RAI Amsterdam does not play a deciding role, the result attributable to RAI Holding BV is included.

Costs of outsourced work

The costs for outsourced work and other external costs involve direct and indirect costs, including purchasing costs of sold catering stock that can be attributed to the turnover.

Depreciation

The depreciation of tangible fixed assets is calculated on a linear basis by reference to the expected economic life.

The applied depreciation rates are between 2% and 20%. The depreciation of the intangible fixed assets is related to the acquisition value, and ranges between 5% and 20%. Possible residual values of tangible and/or intangible fixed assets are not taken into account.

Financial revenue and expenditure

The financial revenue and expenditure involve the exchange rate differences, interest income and expenses and similar results attributable to the period concerned.

Participating interest results

The participating interest results concern the share of the company in the results of the net asset value of the participating interests. The share that the company is due is stated as the result of a specific participating interest in the participating interest results.

Corporation tax

Corporation tax is calculated on the commercial pre-tax profit, taking into account tax facilities. The change in the provision for deferred corporation tax is taken into account in the calculations.

A continuous evaluation is made as to whether the financial reporting should or could be adapted in the framework of new fiscal legislation.

Cash flow statement

The cash flow statement has been drawn up in accordance with the indirect method. The resources in the cash flow statement consist of liquidities.

Notes on the consolidated balance sheet as of 31 December 2023

1.1.1. Intangible fixed assets

Intangible fixed assets

Amounts x € 1.000

Investments in exhibition titles (paid goodwill) are depreciated over a maximum period of 20 years. An impairment test on titles that were externally acquired in the past is performed annually. The latest test gives no reason to depreciate the externally acquired titles. Software is depreciated over a period of ten years at most, calculated from the time it is first used.

The ‘other’ category primarily concerns the use of a lounge in the Johan Cruijff ArenA. These rights will be depreciated until the year 2026. Divestments are related to assets that are no longer used. The work in progress concerns investments in software for projects that have not yet been taken into use.

1.1.2.

Tangible fixed assets

Tangible fixed assets

Amounts x €1,000

Buildings and land are depreciated over a period of five to 50 years, the Convention Centre over a period of 20 years, and installations over a period of 10 to 20 years. The other fixed assets are depreciated over a period of five to 20 years. A trigger analysis is performed on the tangible fixed assets every year. As no triggers were identified in 2022 an impairment test was not necessary and there was no reason to depreciate the tangible fixed assets.

In 2017 RAI Amsterdam renewed its long-term land lease retroactively from 1 November 2016. The paid land lease until 2066 amounts to €2,827,388.71 (2022: €2,893,397.79). The paid land lease is depreciated over the entire canon period until 2066. Divestments are related to fixed assets that are no longer used.

1.1.3. Financial fixed assets

Financial fixed assets

Amounts x €1,000

of 31-12-2023

The financial fixed assets refer to a capital interest in Stadion Amsterdam CV of 1/9 share of the limited capital. The valuation of this capital interest is valued at the acquisition price or current value if lower.

1.1.4. Current assets, receivables

assets, receivables

x €1,000

The trade receivables include, among other items, receivables for future events to an amount of €9,790,818 (2022: €7,447,918).

The other receivables include, among other items, yet to be billed invoices to an amount of €2,784,367 (2022: €2,428,757) and an accounts receivable relating to recoverable value-added tax (VAT) of €1,726,054.

The accrued assets include, among other items, invoices received for costs in the new book year to the amount of €1,943,592 (2022: €1,643,940) and involves paid personnel costs and other costs for future events to an amount of €5,603,671 (2022: €3,962,590) of which a sum of €172,570 applies to exhibitions longer than one reporting period (2022: €663,161).

1.1.5. Shareholder equity

For an explanation of the changes in the shareholder equity in 2023 and 2022 see the notes on the company annual accounts of RAI Holding BV (see 4.1.2.).

1.1.6. Provisions

The other provisions mainly involve a provision for long-service payments and other personnel-related provisions. The above provisions are primarily of a long-term nature.

1.1.7. Long-term liabilities

Overview of long-term loans

On 31 December 2023, Amounts x €1,000

Based on the deferral of payments related to the pandemic, RAI Amsterdam has opted to repay the tax debt in 60 monthly instalments until 1 October 2027 (interest rate 4%).

As a result of the agreed payment scheme, the long-term part of the tax debt is accounted for retrospectively under long-term liabilities, as it has, in fact, been of a long-term nature since 2022. The table below indicates which changes were implemented.

RAI Holding was refinanced in 2020. After the financing trajectory, a financing agreement with three banks – ING Bank NV, Deutsche Bank AG and Coöperatieve Rabobank UA – was concluded in April 2020. Each bank has provided one third of the loan.

RAI Amsterdam entered into an additional financing agreement with the same banks in December 2020, divided in the same way and based on the Corporate Financing Guarantee C (GO-C). This agreement amounts to €20 million over a term of three years. The interest on the GO-C loan is Euribor with a margin of + 2.65.

In 2022 the refinancing was extended to April 2026 under the same conditions.

The credit agreement consists of the GO-C loan and:

An overdraft facility to an amount of €30 million; Long-term loans with a total scope of €60 million.

The interest on the loans is Euribor with a margin of 1.5.

In the years 2020 to 2022 RAI Amsterdam entered into an interest swap contract with the aforementioned banks to the tune of €28.5 million. Based on this interest swap, RAI Holding BV pays an interest rate of -0.46% (excluding margin). From April 2024 to March 2026 RAI Holding will pay an interest rate of 1.58% (excluding margin).

The business premises at Europaplein have been mortgaged as security for the repayment of the long-term debts and overdraft facility.

A credit agreement with Triodos Bank in 2014 to finance solar panels was fully paid off in 2023.

Another credit agreement to finance solar panels was made with the Amsterdam Investment Fund of the Municipality of Amsterdam in 2014. This consists of a loan of €0.1 million for the period until 5 March 2029. The loan will be repaid at the latest by 5 March 2029 and the interest rate is 0%.

The other long-term liabilities concern a lump-sum payment received in 1988 from the Municipality of Amsterdam for the operating losses of the convention centre in the period until 2038. This lump-sum payment was acquired in the past at an interest rate of 7.46% and is mainly of a long-term nature. The release benefits the operational costs. The annual interest increase is at the expense of the financial revenue and expenditure.

Of the long-term liabilities, a total of €5.2 million has a term of over five years.

1.1.8. Short-term debts

The accrued liabilities largely consist of receivable invoices for incurred costs of €13,058,276 (2022: €10,135,287) and accrued liabilities related to personnel of €4,178,942 (2022: €3,318,746).

The sums invoiced in advance include an amount of €487,956 which applies to exhibitions that take place after one reporting period (2022 €879,053).

Off-balance sheet information

1. Since the start of 2020 RAI Amsterdam has had the parking facility of the nhow Amsterdam RAI hotel available. The rental contract started as soon as the garage was completed and has a term of 20 years. The rent for 2024 is €779,528 (2023: €771,664) a year and will be indexed annually. The total contractual obligation is €12,472,442 (2022: €13,118,288) of which €779,528 (2022: €771,664) is due within a year, and a sum of €3,897,638 (2022: €3,858,320) is due in five years. The remainder involves the period from 2029 to 2039.

2. There were bank guarantees issued to an amount of €219,975 (2022: €219,975).

3. There are operational lease commitments for 21 (2022: 21) cars. At the end of the financial year the contractual commitments totalled €409,481 (2022: €364,237), of which €181,641 is due within one year. The remainder is due within five years.

4. A total of €409,479 (2022: €411,439) in lease payments was made in 2023.

5. In 2017 an agreement was reached with the Land Lease and the Land Issuance and Development department of the Municipality of Amsterdam regarding an early amendment to the long-term land lease agreement. This new agreement has a term of 50 years until 30 October 2066. The available part of the capitalised acquired long-term land lease as of 1 November 2016 will be depreciated over the new term of 50 years. The total liability for long-term land lease (until 2066) is €13,011,735 of which €302,598 is due in one year and €1,512,992 in five years. The remaining sum involves the period from 2029 to 2066. The amounts due are indexed annually.

6. RAI Holding BV is the leading company of a group that is treated as a single entity for corporation tax purposes. The other members of the group are RAI Amsterdam BV, RAI Solar Energy BV and Arfora BV. Each company is severally liable for the liabilities of the fiscal entity.

7. RAI has a credit facility of €30 million which had not been used on the balance sheet date (2022: €30.0 million, on the balance sheet date in 2022 the facility had been fully used).

Financial instruments

The risks associated with the financial tools are clarified below.

Credit risk

Exposure is constantly monitored and acted upon in order to manage the credit risk. There was no major concentration of credit risks at the end of the financial year. Credit risks relate to debtors and other short-term receivables. Sufficient provisions were included accordingly.

Currency risk

There are no substantial currency risks as the operational cash flows and financing activities mainly take place in euros.

Interest risk

Interest risks mainly concern long-term loans. RAI Amsterdam BV has interest rate swap contracts to cover interest risks. In order to fix the interest rates, interest rate swaps were concluded in 2020 for the period until March 2024 amounting to €24.5 million at the end of 2022. RAI Amsterdam BV pays an interest rate of -0.46% on the interest swap with ING Bank NV, Deutsche Bank AG and Coöperatieve Rabobank UA. The amounts covered by the interest swaps are smaller than or equal to the outstanding principle of the loans from ING Bank NV, Deutsche Bank A. and Coöperatieve Rabobank UA.

In 2022 interest swaps were concluded with the aforementioned financers due to the extension of the financing agreement. From April 2024 RAI Holding will pay a fixed interest rate of 1.58% excluding margin over a sum of €24 million.

On 31 December 2023 the interest swaps had a fair value of €647,270 (2022: €1,796,892).

The nominal value will be reduced to zero over the remaining interest swap period (until 2026).

A variable interest rate of three months Euribor plus an individual surcharge is paid on the bank overdrafts.

Notes on the consolidated profit and loss account 2023

2.1.1. Turnover

Amounts x €1,000

2.1.2. Costs of outsourced work and other external costs

Costs of outsourced work and other external costs

Amounts x €1,000

2.1.3. Personnel costs

RAI has two pension schemes in its working conditions:

Premium pension scheme (the standard from 2013) Defined benefit plan based on average pay (for employees who started working for the company prior to 2013)

The average pay is a conditional indexed average in which indexation occurs under specific conditions indexed.

The reservations for 2023 were processed in the results.

The salary (including benefits) paid to (two) Board members totalled €1.050.900 (2022: €747,700).

The provisions for 2023 were processed in the results.

The remuneration (including employee benefits) of the two directors totalled €1,050,900 (2022: €747,700).

The comparative figure for 2022 was amended from €835,875 to €747,700 as a supplementary payment of €88,175, relating to previous years, took place in 2022.

The salary paid to Supervisory Board members (an average of five) amounted to €157,439 (2022: €143,126, average of five).

2.1.4. Depreciation on intangible and tangible fixed assets

The depreciation on intangible and tangible fixed assets consists of €13.9 million in regular depreciations. There are no book losses on divested tangible fixed assets.

2.1.5. Other operating costs

Accountancy costs

In accordance with Article 382a Book 2 of the Netherlands Civil Code, an amount of €199,970 (2022: €168,045) is due to Deloitte Accountants BV in the book year, of which €130,200 (2022: €125,000) relates to the annual audit and €69,770 to other audit assignments.

2.1.6. Interest revenue and costs and similar

Interest revenue and costs and similar

Amounts x €1,000

The interest costs and similar expenses such as financing costs consist of €2,623,049 in owed interest and €30,983 in costs from exchange rate results and similar results.

2.1.7. Taxes

Taxes

Amounts x €1,000

The effective taxation rate over 2023 was 29.5% (2022: 29.7%) which is above the generally applicable tax rate for negative results in the Netherlands. The reason for the difference is the introduction of the WOZ depreciation restriction for buildings in own use as of 1 January 2019 (WOZ is the valuation of immovable property system used for tax purposes in the Netherlands).

In 2022 RAI Amsterdam met with the inspector of direct taxes to establish a tax maintenance provision for book year 2017 in which changes have been made from the commercial qualifications within the applicable tax legislation, regulations and jurisprudence. This tax maintenance provision was also present in 2023.

The effective tax burden can be specified as follows.

Amounts x €1,000

4.1.

Company balance sheet (before proposed appropriation of results)

Company balance sheet Before proposed appropriation of results, Amounts x €1,000

5.1. Company profit and loss account

Company profit and loss account

Amounts x €1,000

The company profit and loss account has been drawn up in accordance with Article 402 of Book 2 of the Netherlands Civil Code.

The financial data of RAI Holding BV is included in the consolidated annual account. As a result, the profit and loss account of RAI Holding BV only states the share in profits after taxation of participating interests and the other result after taxes, in accordance with Article 402 of Book 9 of the Netherlands Civil Code.

Notes on the company balance sheet as on 31 December 2023

4.1.1. Financial fixed assets

Financial fixed assets

Amounts x €1,000

The company owns 100 percent (unless otherwise stated) of the shares in the following participations: RAI Amsterdam BV, Amsterdam (CoC 34192575); RAI Amsterdam BV, Amsterdam (CoC 92449174); RAI Solar Energy BV, Amsterdam; RAI Markets BV, Amsterdam; Arfora BV, Amsterdam.

The results of these group companies include those of the following indirect participations (100%): RAI USA, Inc., Delaware; Rui Ang Exhibition and Convention Co., Ltd., Shanghai en RAI TURKEY ULUSLARARASI FUARCILIK VE GOSTERI HIZMETLERI ITHALAT IHRACAT TICARET LIMITED SIRKETI, Istanbul.

Shareholder equity

Amounts x €1,000

The authorised capital is €13,650,000, divided into 225,000 ordinary ‘A’ shares and 75,000 ordinary ‘B’ shares, each having a nominal value of €45.50. Of these, 45,000 ‘A’ shares and 15,000 ‘B’ shares have been issued and fully paid up.

4.1.3. Receivables from/debts to group companies

Receivables from/debts to group companies

Amounts x €1,000

as of 31-12-2023

The determined dividend for the year 2018 is paid in full via the subsidiary RAI Amsterdam BV to the shareholders and charged to RAI Holding via a current account relationship. No interest applies to receivables from group companies. The debts to group companies also include a claim on group company Arfora. The company balance sheet shows the receivables and debts separately.

Corporate tax is passed on to the subsidiaries if they are independently taxable, and in a similar way to the calculation method at the level of the mother company. As such, no latency or corporate tax benefits are included in the nonconsolidated financial statements.

Personnel

As was the case in 2022, the holding did not employ any staff in 2023.

Off-balance sheet information

Letters of liability in accordance with Article 403 of Book 2 of the Netherlands Civil Code have been issued and deposited for the participating interests in RAI Amsterdam BV and RAI Solar Energy BV.

Amsterdam, 25 April 2024

Executive Board of RAI Holding BV

P. (Paul) Riemens, CEO

M. (Maurits) van der Sluis, COO

Supervisory Board of RAI Holding BV

O. (Otto) Ambagtsheer, chair

A.M.H. (Annemarie) Macnack-van Gaal, vice-chair

M.P. (Michiel) Boere

W.C.M. (Mariëlle) de Macker

R.J. (René) Takens

Proposed appropriation of profit

Proposed appropriation of profit

The general meeting of shareholders is proposed to approve a dividend payout of €6.8 million over 2023. The result after tax over 2023 is included in the unappropriated profit item under shareholder equity.

Events after the balance sheet date

In the reporting year it was decided to change the legal structure of the group companies of RAI Holding BV. Part of this change was realised in the reporting year, as is explained in the ‘Principles of consolidation’ paragraph (part of the General principles for valuation). A second part of the restructuring involves placing a number of our own exhibition activities in separate entities. A division to this purpose took place on 5 March 2024, in which the following companies and their activities in RAI Markets BV were divided by universal title: RAI Cleaning Technology B.V., RAI Horticulture BV, RAI Marine Technology BV, RAI Mobility BV and RAI Water Technology BV. These companies will then be active in the respective domains indicated by their names.

Result appropriation in accordance with the statutes

Article 24 of the company statutes states the following regarding the appropriation of profit.

1 In addition to several other reserves, the company can keep a general reserve, a share premium reserve A, a share premium reserve B, a dividend reserve A, and a dividend reserve B in its books. The respective rights to these reserves go to owners of shares A and shares B, pro rata to the number and type of shares they own.

2 Payments to shares A and shares B that exceed the nominal value of those shares are added to the share premium reserve concerned.

3 Without prejudice to that determined elsewhere in this article, the distributable profit is freely at the disposal of the general meeting for the payment of dividend, reservations or other such purposes within the company’s goal as determined by the general meeting.

4 The general meeting can determine, with prior approval from the holders of shares of the type concerned, not to distribute profits on those shares but to reserve that portion of the profit and add it to dividend reserve A or B respectively. Payment from dividend reserve A or B respectively can only be made to holders of the type of shares concerned if the general meeting determines as such after prior approval by a meeting of those holders.

5 Without prejudice to that determined elsewhere in this article, if the general meeting decides to reserve profit or pay dividend on all shares regardless of the type, equal amounts of the profit will be reserved or paid as dividend. The company can only make payments to shareholders and other parties that have a right to the payable profits insofar as the shareholder capital is larger than the paid and requested part of the capital increased by the reserves that must be applied in accordance with the law or statutes. The shares kept in the capital of the company are not included in the calculation of the appropriation of profit.

7. Appropriation of profit will occur after the determination and approval of the annual accounts which show that payment is permissible.

The general meeting is authorised to determine payments on one or more interim dividends, with due regard to point seven.

9 Unless the general meeting determines another date, dividends are immediately payable after approval.

10 The right to claim for payment of dividend lapses after a period of five years.

Reference to the audit statement by the independent accountant

RAI Holding B.V. prepares its annual financial statements in the Dutch language. In order to be able to distribute the financial statements to international stakeholders, management has decided to prepare an exact translation into the English language of the 2023 financial statements.

The financial statements of RAI Holding B.V. for the year ended 31 December 2023 have been prepared on the date of 25 April 2024. On that same date, Deloitte Accountants B.V. issued an unqualified independent auditor’s report on these financial statements.

Amsterdam, 25 April 2024

Deloitte Accountants BV

Signed by: F.E. Mijinke

08 Annex: key figures for five years

* No comparative figures available. Due to the COVID pandemic and restrictions imposed by the government the RAI was closed for a large part of 2021.

Quality

Customer satisfaction

Score (from 1 to 10) for satisfaction with RAI Amsterdam Convention Centre

Employee satisfaction

Percentage with the scores 4 (‘agree’) and 5 ('strongly agree') on a five-point scale for general satisfaction.

Exhibitors Number

Personnel Employed by the group, average

Natural resources

Energy: consumed and generated. CO2 emissions, involves scope 1, 2 and, partially, scope 3.

and result x €1

RAIAmsterdam

Europaplein 1078GZAmsterdam P.O.box77777

1070MSAmsterdam

TheNetherlands

Tel.+31205491212

Fax+31206464469 www.rai.nl