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Claw-back right of Galapagos relating to variable remuneration

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

During the financial year 2022 no claw-back events occurred.

The 2022 RSU plans and 2022 subscription right plans contain bad leaver provisions that can result in forfeiture of any unvested RSU and/or subscription right grants in case the beneficiary leaves Galapagos prior to the relevant vesting date. On the leaver date of Mr. Onno van de Stolpe and Dr. Andre Hoekema, their outstanding RSUs under several RSU plans became null and void, respectively, being 65,158 RSUs and 39,407 RSUs.