INTERNATIONAL FRAMEWORK AGREEMENT of ABN AMRO Bank N.V., 2015

PARTIES:

ABN AMRO Bank N.V., a public company, incorporated under the laws of the Netherlands, having its principal place of business at Gustav Mahlerlaan 10, (1082 PP) Amsterdam, the Netherlands, registered in the Amsterdam Trade Registry under number 34334259, hereafter be referred to as: “ABN AMRO”; and

FNV Finance as a part of FNV , incorporated under the laws of The Netherlands, having its principal place of business at Amsterdam, Naritaweg 10, 1043BX, registered in the Amsterdam Trade Registry under number 40531840, hereafter be referred to as: “FNV"; and

UNI Global Union, incorporated under the laws of Switzerland, having its principal place of business at 8-10 avenue Reverdil Nyon Switzerland, hereafter be referred to as: “UNI”.

PREAMBLE

1Parties are engaged in activities in a multinational global marketplace which raise new challenges. Economic globalisation is lowering barriers to the movement of goods, services and capital. Business enterprises strive to provide a return to their investors, but along with this basic mission goes a social responsibility: to advance the welfare of the societies in which the business implants itself.

2A minimum requirement for fulfilling this responsibility is safeguarding the environment, observing the core labour standards of the International Labour Organisation and the guidelines of the OECD, and providing decent wages and working conditions for ABN AMRO employees.

3ABN AMRO also recognises its responsibilities for the conditions under which its products or services are made and accepts that its social responsibility to use its influence to promote, encourage and monitor application and compliance with the principles as set out in this agreement extend to all workers producing products or services for ABN AMRO whether or not they are employees of ABN AMRO.

4ABN AMRO shall ensure that the principles contained in this agreement shall actively be communicated and promoted within the ABN AMRO Group and towards its contractors and subcontractors when producing or distributing products or services for ABN AMRO and the entire chain of contractors, subcontractors, suppliers and joint ventures.

5The signatories consider that this agreement is based on a joint commitment to human and social rights and to achieve continuous improvement within the areas of working conditions, industrial relations, health and safety standards in the workplace and environmental performance across the globe.

6The provisions of this agreement constitute only minimum standards. Parties do not intend and will not use these minimum standards and conditions as maximum standards, or as the only conditions permitted, or to serve as the basis for any claim as to what standards or conditions of employment should be provided.

7ABN AMRO respects its obligations to employees under labour and social security laws as well as regulations arising from regular employment. The parties shall work towards creating sustainable employment relationships.

LABOUR STANDARDS

ABN AMRO reaffirms its commitment to respect the International Labour Organization (ILO) Declaration on fundamental Principles and Rigths at Work1 , the OECD Guidelines for Multinational Enterprises and the UN Global Compact.

This means that:

Employment is freely chosen

There shall be no use of forced, including bonded or involuntary prison, labour (ILO Conventions 29 and 105). Nor shall workers be required to lodge "deposits" or their identity papers with their employer, including labour supplying companies providing labour or services to ABN AMRO.

Child labour is not used

There shall be no use of child labour. Rules set by the ILO Convention 138 on minimum age for employment, or national regulations, whichever set higher standards, shall be adhered to. Rules set by the ILO Convention 182 on the worst forms of child labour shall be adhered to. Companies shall provide economic assistance to guarantee education opportunities to any replaced child workers.

A child worker, when found employed by ABN AMRO, should be replaced whenever possible by somebody from the family in order to maintain the family income.

Work Life Balance is being observed

Working arrangements and policies should be consistent with work life balance and assist workers in combining employment with other aspects of their lives. Parties regard such an approach as a way of helping to develop a more committed and productive workforce.

Freedom of expression is respected

ABN AMRO considers freedom of expression a fundamental human right and shall respect any constitutional right of freedom of expression.

A respectful working environment is ensured

ABN AMRO ensures a respectful working environment on all levels. All levels of management are held to actively guarantee this climate.

Right to information and consultation within the group at all levels is observed

ABN AMRO informs and consults employees and their unions at the appropriate level in a meaningful and timely manner before decisions affecting employment and working conditions are taken, in particular regarding restructuring, redundancies, outsourcing and offshoring.

Restructuring is being carried out carefully

In the context of its responsibilities toward staff and the local economies, ABN AMRO endeavours to anticipate change and restructuring in order to minimise as far as possible any negative consequences on employment, to avoid or limit lay offs and mitigate financial damage for workers.

ABN AMRO will integrate employment and social consequences in strategic decisions and will - where relevant - provide training to facilitate the necessary changes. ABN AMRO will pro actively engage in dialogue with local union organisations and elected staff representatives on economic issues, the consequences of decisions and suitable individual and collective support.

Sustainable development is integral part of ABN AMRO’s business

ABN AMRO recognizes that its business has an impact on people, industry and society. It is ABN AMRO’s aim to be positively recognised for its position on sustainability and transparency. In striving to achieve this goal, ABN AMRO is guided by its sustainability strategy, which consists of four key elements:

ABN AMRO puts its clients’ interests centre stage and build sustainable relationships;

ABN AMRO pursues sustainable business operations;

ABN AMRO uses its financial expertise for the benefit of society;

ABN AMRO finances and invests for its clients in a sustainable manner.

IMPLEMENTATION

1Parties are jointly responsible for the implementation and communication of this framework agreement. ABN AMRO shall communicate it to its national and local management teams and make this agreement yearly known to its employees and will actively recommend the practices in this agreement to the suppliers and subcontractors with whom the company has contractual relationships.

2Parties commit themselves to create a monitoring group, consisting of a balanced representation of parties, with the role of looking into the divergences of interpretation and application of this framework and to present conclusions and suggestions to resolve them. The monitoring group will at least consists of representatives from ABN AMRO including HR, business, Corporate sustainability and FNV and UNI.

3The monitoring group shall meet once a year. The HR Director of ABN AMRO will be the meeting chair and prepares, together with a representative from the union, the agenda 15 days before the meeting. The monitoring group may rely on the existing information within ABN AMRO regarding the subjects in this agreement, by example the Sustainability Report.

4If a complaint should be filed under the terms of the present agreement that cannot be resolved by the national of regional management, UNI or FNV may raise the matter with ABN AMRO’s HR Director. An inquiry shall then be conducted without delay in an open and transparent manner. If the issue can still not be resolved, it may be submitted to the monitoring group. In the event that parties are unable to resolve a dispute concerning the application of the present agreement after having discussed it at a meeting of the monitoring group, it may be submitted by mutual consent to a mediator. Parties shall choose the mediator jointly. Neither party may refuse a request for mediation without just cause. The specific problems of employees or local disputes concerning collective bargaining shall be handled and settled in accordance with local dispute settlement procedures. Recourse to a higher jurisdiction may only be justified if the question or issue relates to a right or a standard established within the context of the present agreement.

5Parties recognizes that the present agreement does not grant any contractual rights to third parties or to any employee of ABN AMRO, and that the agreement may not affect the practices of agreements negotiated with other trade unions that are active within ABN AMRO.

6This agreement comes into effect on signing and will be evaluated in the monitoring group on a regular base. It may be terminated by either of the parties providing it is done in writing and notice of six months has been given.

SIGNING PAGE

AGREED AND SIGNED IN FIVEFOLD,

ABN AMRO BANK N.V.

NAME: G. Zalm

TITLE: Voorzitter Raad van Bestuur

ABN AMRO BANK N.V.

NAME: C.E. Princen

TITLE: Lid Raad van Bestuur

FNV FINANCE

NAME: Carla F. Kiburg

TITLE: Union official

FNV

NAME: Ton J.M. Heerts

TITLE: Chair

UNI GLOBAL UNION

NAME: Philip Jennings

TITLE: General secretary