Claw-back right of Galapagos relating to variable remuneration

As from financial year 2020, contractual provisions apply to each management board member to ensure that Galapagos has the right to have each management board member forfeit any unvested RSUs, deferred portions of previous cash bonuses or unvested subscription rights in the event of a restatement of the financial statements that has a material negative effect on Galapagos or a material breach of our Code of Conduct and Ethics.

The RSU plans and 2020 subscription rights plan contain bad leaver provisions that can result in forfeiture of any unvested RSU and/or subscription rights grants in case the beneficiary leaves Galapagos prior to the relevant vesting date.

During the financial year 2020 no claw-back events occurred.