For some time now, USG People N.V. has had regulations in place relating to the transaction of securities in the company by members of the Supervisory Board, the Executive Board and the Executive Committee. This is the so-called “Model Code”.

In force since 1 January 2005, members of the Supervisory Board, Executive Board and the Executive Committee are also subject to the Tracking Compliance Program. Up to 1 January 2005, these regulations, briefly put, involved mandatory reporting of all transactions in companies with registered offices in the Netherlands, whereby the shares and depositary receipts of shares were listed on a government-recognized stock exchange.

At the end of 2005, the Supervisory Board and the Executive Board carried out a joint review of these regulations and it was decided to implement the amended regulations from 1 January 2006 onwards. Instead of mandatory reporting after the event for all Dutch, publicly listed securities, as of 1 January 2006, reporting of all securities in respect of the so-called Peer Group or direct competitors must now take place in advance. This prior mandatory reporting means that trading in stocks of direct competitors is only permitted on the condition that permission is obtained beforehand from the Compliance Officer of USG People N.V. Download Tracking Compliance Program