4.1

• DSM, having acquired Martek, is now theworld’s leading manufacturer of microbially-produced DHA and ARA.

• DHA and ARA are two fatty acids that areimportant for proper infant nutrition due totheir role in brain and eye development.

• DHA and ARA are always in breast milk, butwere not widely available in infant formulasuntil DSM/Martek found ways to economicallyproduce these two fatty acids.

• DHA is also important for proper brain, eye andheart health throughout life, but most people,unless they eat sufficient amounts of fish, donot get adequate amounts of DHA through theirnormal dietary intake. This creates a marketfor DHA supplements and foods fortified withDHA either from fish oil or algae.

• DSM’s DHA from algae, though more costly thanfish oils, has several advantages including thatit is sustainably produced, is appropriate forvegetarian diets and is, in many cases, moreeasily formulated into foods and beveragesthan fish oils.

4.2

4.3

• Martek has been growing rapidly over the pastfew years as its business has expanded beyondproviding DHA and ARA for infant formula.Products now include DHA for supplements,foods & beverages and animal feeds. Thepurchase of Amerifit (now i-Health) in 2010added B2C products to Martek’s portfolio.These products now include the recentlylaunched Brainstrong™ line of DHA supplementsand Ovega-3™, the world’s first DHA/EPAsupplements that come from algae and notfish.

• Martek has also developed a technologyplatform that is very synergistic with DSM’sR&D programs.

• These growth initiatives have resulted in theannual sales and EBITDA growth shown in thecharts. The year 2011 is off to a good start andit is expected that 2011 sales and EBITDA willexceed 2010 levels.

• The primary sources for the important long-chain Omega-3 lipids (DHA and EPA) are fish,fish oil and algae oils. Fish do not naturallyform EPA and DHA. They get it from their diets.Farm-raised fish must be fed a diet thatincludes fish meal, fish oil or a DHA/EPA richsource of algae to have levels of DHA & EPAfound in fish that are not farm raised.

• Algal oil sources of DHA and EPA today areprimarily used for certain high-valueapplications such as infant formulas, foods andbeverages where formulating with fish oils maybe a problem, supplements for pregnant andnursing women, supplements and foods forvegetarians, and by companies that areconcerned about the sustainability of fish-derived sources of DHA and EPA.

4.4

4.5

• The market for Omega-3 and Omega-6 lipids islarge and growing. Recent studies haveconfirmed that shorter-chain PUFAs are not ascardio-protective as DHA & EPA.

• The overall market for fish oils is stillsignificantly larger than that for algal oils dueto the lower pricing for fish oils.

• The global market for DHA and ARA in infantformulas is still growing despite fullpenetration of the US market and a decliningUS birth rate over the last three years. US birthrates returning to normal in the future couldpresent an opportunity for growth.

• Growth is coming from growth in high growtheconomies due to a growing middle class andmore women entering the workforce in thesemarkets as well as from markets with lowerlevels of penetration in Europe, and Latin andSouth America.

• In addition, growing-up milks (for infants over12 months of age) have low levels ofpenetration, presenting an opportunity forfuture growth.

• Growth is also being driven by the sciencewhich supports higher inclusion levels thancurrently exist in some products as well asincreasing consumer awareness of theimportance of DHA and ARA for infantnutrition.

4.6

• This chart illustrates more completely thoseparts of the world that have driven marketgrowth over the past few years and goingforward.

4.7

• These charts further illustrate the areas of theworld presenting the greatest opportunity forgrowth. The combination of Martek with DSM,with DSM’s global footprint, greatly enhancesour ability to reach underserved parts of theworld.

4.8

• Growth of DHA sales outside of infant formulahave been strong despite a weak economy andare expected to grow even faster now thatDSM’s international sales force has beentrained to sell algal-derived DHA. The firstsales from DSM’s international sales force havealready been registered.

• Each of the market segments outside of infantformula has its own dynamics. In DietarySupplements the ability to make claims isimportant to grow the market. The recent EUclaims granted by EFSA for DHA and DHA/EPAwill enable that. For the Food & Beveragesegment the ability to serve the need for moreforms and formulations is important, as well asthe support to customers to position novel foodingredients. Cost effectiveness and supportingclinical studies are key elements to beaddressed in the feed market. DSM is in anexcellent position to address all these differentdynamics with its extensive global network, itsvast innovation capabilities and the deeplyrooted know-how of these segments.

• Leading companies from around the world useDSM’s DHA oils in a variety of well knownconsumer brands. Examples include: Coca-

Cola, Dean Foods, Abbott, Smuckers, COFCO,Parmalat, Ernest Jackson(Kraft), Bayer,Laboratorios Thea, Fonterra, Marlow Foods,Ragasa, Bimbo Bakeries, Mengniu, CVS,Walmart & Walgreens.

4.9

• This map illustrates the global footprint we cannow draw upon to sell more DHA & ARA.

4.10

• Amerifit, now i-Health, was selling threeprimary product lines (all in the US) whenacquired by Martek in early 2010: AZO, theleading US over-the-counter UTI pain reliever,Culturelle, the leading US probioticsupplement and Estroven, the leading USnatural menopause relief supplement. Whenacquired, Amerifit’s annual sales totaledapproximately US dollar 80 million. This pastsummer, Brainstrong™ and Ovega-3™ wereadded to i-Health’s product lines. Brainstrong™can already be found on the shelves at over30,000 outlets in the US and initial sales areencouraging. Ovega-3™ is initially beinglaunched in the natural channel in the US Withthe growth in the original three product linesplus the addition of Brainstrong™ and Ovega-3™, annual i-Health sales have grown toapproximately US dollar 100 million.

• The DSM products i-Flex® (joint health), i-Cool™(menopause relief) and SlimShots™ (satiety)have now also been added to the i-Healthproduct portfolio.

• Future growth will be generated from growth inthe existing product lines, from the ability tolaunch certain new DSM products directly to

the consumer and through international growthopportunities.

4.11

• Continuing patents cover certain compositionsof DHA and ARA oils (expiring 2017 and 2023where granted), methods of incorporatingPUFAs into infant formula (expiring 2017 wheregranted) and certain processes (expiring 2017and 2021 where granted).

• In addition, a number of patents have beenapplied for that, if granted, would providecoverage for a second generation DHA product,new processes that result in higherquality/lower cost oils, the new DHA/EPAproduct and process, and certain DHAingredient forms and product applications.

• DSM has sole-source supply agreements withcustomers comprising approximately 75% of itscurrent infant formula revenues. These sole-source arrangements include supplyagreements with Mead Johnson Nutritionals,Pfizer, Danone and Abbott Nutrition, whichextend at least through calendar 2015, 2015,2014 and 2016, respectively.

4.12

• Martek’s algal biotechnology platform is a greatfit for DSM and provides DSM with newexpertise in a set of micro-organisms alreadyproven to have commercial value. Algaecontain fats, carbohydrates and proteins ofcommercial interest and have the potential tobe a sustainable source of nutrition, fuels andindustrial biotechnology products.

4.13

4.14

DISCLAIMER

This document may contain forward-looking statements with respect to DSM's future(financial) performanceand position. Such statements are based on current expectations, estimates and projections of DSM andinformation currently available to the company.

Examples of forward-looking statements include statements made or implied about the company’s strategy,estimates of sales growth, financial results, cost savings and future developments in its existing business aswell as the impact of future acquisitions, and the company’s financial position. These statements can bemanagement estimates based on information provided by specialized agencies or advisors.

DSM cautions readers that such statements involve certain risks and uncertainties that are difficult to predictand therefore it should be understood that many factors can cause the company's actual performance andposition to differ materially from these statements.

These factors include, but are not limited to, macro-economic, market and business trends and conditions,(low-cost) competition, legal claims, the ability to protect intellectual property, changes in legislation,changes in exchange and interest rates, changes in tax rates, pension costs, raw material and energy prices,employee costs, the implementation of the company’s strategy, the company’s ability to identify and completeacquisitions and to successfully integrate acquired companies, the company’s ability to realize planneddisposals, savings, restructuring or benefits, the company’s ability to identify, develop and successfullycommercialize new products, markets or technologies, economic and/or political changes and otherdevelopments in countries and markets in which DSM operates.

As a result, DSM’s actual future performance, position and/or financial results may differ materially from theplans, goals and expectations set forth in such forward-looking statements.

DSM has no obligation to update the statements contained in this document, unless required by law. The English language version of this document is leading.

A more comprehensive discussion of the risk factors affecting DSM’s business can be found in the company’slatest Annual Report, a copy of which can be found on the company's corporate website, www.dsm.com

6.41

6.42

6-APA 6-amino-penicillanic acid AGI AGI Corporation TaiwanAMEA Asscociation of Machinery and

Equipment AppraisersANH Animal Nutrition & HealthAPI Active pharmaceutical ingredientsAR Anti-reflectiveARA Arachidonic Acid B&C Building and ConstructionB2 Vitamin B2B2C Business-to-ConsumerB6 Vitamin B6BCM Billion Cubic MeterBF Bio-FuelBMM Biomedical Materialbn billionBP&S Bio-based Products & ServicesC/E Central / EastCAGR Compound Annual Growth RateCAPEX Capital ExpendituresCEO Chief Executive OfficerCFO Chief Financial OfficerCH4 MethaneCHF Swiss francCHP Combined heat and powerCIO Chief Innovation OfficerCIS Commonwealth of Independent

StatesCMD Capital Markets DaysCMO Contract Manufacturing

OutsourcingCRM Customer Relationship

ManagementCTO Chief Technology OfficerDA Depreciation and amortizationDAI DSM Anti-InfectivesDBM DSM BioMedicalDBPS DSM Bio-based Products &

ServicesDD DSM DyneemaDEP DSM Engineering PlasticsDEP DSM Engineering PlasticsDHA Docosahexaenoic acidDPP DSM Pharmaceutical ProductsDS Dietary SupplementsDSP DSM Sinochem PharmaceuticalsE&E Electrical & Electronic IndustryEBA Emerging Business AreaEBITDA Earnings Before Interest, Taxes,

Depreciation and Amortization ECO+ The Greenhouse DialogueEFSA European Food and SafetyEP Engineering plasticsEPA Environmental Protection AgencyEPS Earnings per Share

EU European UnionF&B Food & BeverageFD Finished dosage / final doseFDA Food and Drugs AdministrationGBP Pound Sterling GDP Gross Domestic ProductGHG Greenhouse GasGUR Global Utilization RateHGE High Growth EconomiesHMDA Healthcare distribution

management associationHQ HeadquartersIFRS International Financial Reporting

StandardsINF Infant FormularJPY Japanese YenJV Joint VentureKA KuibyshevAzot OJSCKGA Ketoglutaric Acidkt kilotonLATAM Latin AmericaLCD Liquid crystal displaym millionM&A Merger & AcquisitionsMB Managing BoardNGO Non-governmental organizationOEM Original equipment manufacturerOWC Operating Working CapitalP&L Profit and Lossp/a per annumPA6 Polyamide 6PEN PenicillinPI Polymer IntermediatesPM Performance MaterialsPTG The Polymer Technology GroupPUFA Polyunsaturated fatty acidsR&D Research and DevelopmentROCE Return on Capital EmployedSSC Shared Service CenterSSP Supplies Service PartnerUD Unidirectional UHMwPE Ultra-High Molecular Weight

PolyethyleneUOR Urgent Operational RequestsUS United States (of America)US$ United States dollarUSA United States of AmericaUSD United States dollarUV Ultra VioletVA Vitamin AVE Vitamin EVOC Volatile organic compoundsy-o-y Year-on-yearYTD Year-to-Date

Abbreviation ExplanationAbbreviation Explanation