LeadershipBaLaNCe growthaNNuaL review 2010

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www.arcadis.com

Iconic building restored The Hague, the Netherlands

In 1893, the Royal Waiting Room was added to Den Haag Hollands Spoor, The Hague’s oldest railway station. It remains one of the best preserved examples of 19th century Neo-Renaissance architecture in the Netherlands. However, over time it has been ravaged by salt and moisture that seeped into its delicate interior. From conducting geological studies and analyzing the structural conditions inside the building to advising on climate control, ARCADIS played an instrumental role in the 10-year restoration of the Royal Waiting Room.

3 INTRODUCTION

5 WHO We ARe6 Our business lines 6 Our vision7 Our clients8 Our positioning8 Our strategy

10 CLIMATe CHANGe

12 WHAT We DO 12 Infrastructure 14 Water16 Environment18 Buildings

20 WATeR

22 OUR ReSULTS

24 MObILITy

27 OUR OUTLOOk

28 ReNeWAbLe eNeRGy

30 OUR VALUeS30 Our people 32 Our community

34 SUSTAINAbILITy

36 FINANCIAL STATeMeNTS37 Balance sheet38 Income 39 Cash flow

40 URbANIZATION

42 OUR TeAM

44 WHeRe TO FIND US

1ARCADIS ANNUAL ReVIeW 2010 CONTeNTS

The ARCADIS Executive Board

(From Left to right) Steven blake, Friedrich Schneider, Harrie Noy (Chief executive Officer), Renier Vree (Chief Financial Officer)

LEADERSHIP BALANCE GROWTH

3ARCADIS ANNUAL ReVIeW 2010 INTRODUCTION

Preserving water quality Arlington County, Virginia, United States

Arlington County needed to increase treatment capacity at its aging Water Pollution Control Plant (WPCP) from 30 to 40 million gallons per day to handle significant wet weather flows.

ARCADIS’ design renovated, expanded or replaced virtually every process and structure in the plant, sustainably reusing existing tanks and systems to provide new facilities. It also designed the first large-scale installation of innovative deep-bed denitrification filter technology to meet enhanced nutrient removal goals.

OUR CLIENT-FOCUSED APPROACH DEFINES WHO WE ARE

We are committed to three core values in everything we do: integrity, entrepreneurship, and agility. Here is what these values mean to us:

• Integrity: we do business in an honest way, to the highest professional standards. We are a reliable partner and treat others with respect.

• Entrepreneurship: we drive initiatives to develop business opportunities that create value and use our resources in the best interests of our clients.

• Agility: we react fast to changing market conditions, are responsive to the needs of our clients and colleagues and eager to perform.

In addition to these three core values, we consider Sustainability fundamental to the way we work. It permeates our thinking and activities and as experts in our fields, we provide the knowledge that can keep our planet livable for future generations.

ARCADIS is an international company providing consultancy, planning, architectural design, engineering and management services for infrastructure, water, environment and buildings.

Our mission is to improve the quality of life by creating places of distinction and providing sustainable solutions to enhance the built and natural environment. By doing so, we produce exceptional value for our clients, employees and shareholders.

To fulfill our mission, we seek to strike the right balance between the built and natural environments, the creative and the functional, the innovative and the proven, and between imagination and results.

Our work addresses the most pressing themes and challenges facing society today, including climate change, urbanization, energy supply, mobility, sustainability and the need for potable water. We strive to ensure our offering meets the most pressing needs of society and are aware of the need to provide sustainable solutions that protect the earth and its resources for future generations.

WE SUPPORT UN-HABITATWITH KNOWLEDGE AND EXPERTISE TO IMPROVE THE QUALITY OF LIFE IN RAPIDLY GROWING CITIES AROUND THE WORLD.

5ARCADIS ANNUAL ReVIeW 2010 WHO We ARe

BUSINESS LINESOur services are focused on four business lines with individual strengths and strategies. At the same time, we work across these disciplines and geographies to deliver integrated solutions to complex issues anywhere in the world. In 2010, a fourth business line, Water, was added to reflect our global strengths in that field.

InfrastructureOur infrastructure services create the conditions for efficient transportation and healthy places to live and work. We work on high-quality railways, road networks (including tunnels and bridges), producing a reliable energy supply, and land development for a variety of purposes. Our professionals bring stability, mobility and a better quality of life to communities around the world.

WaterOur water services focus on the entire water cycle, including the analysis and design of drinking water supply systems. For the treatment of waste water, we advise on advanced treatment technologies and deliver design, engineering and management services. Our offering also includes management consulting for water operators, while our water management related services include the management of rivers and coastal zones, urban and rural water challenges, and issues related to climate change and rising sea levels.

EnvironmentARCADIS has a leading role in environmental services, delivering projects that help protect the earth’s resources while meeting our clients’ economic objectives. From soil, groundwater and sediment remediation and environmental impact assessments, to consultancy on corporate energy, product stewardship, health and safety and waste management issues, our services support environmental policies for companies and governments alike.

BuildingsWe understand the importance of buildings to the urban fabric, to our clients’ real estate portfolios and to the people who use them. We deliver world-class architecture, planning, consultancy and management services for a wide range of buildings, from commercial properties and hospitals, to schools, government buildings and industrial facilities. We help clients achieve their business objectives and create a balance of form, function and environmental stewardship.

OUr vISIONSociety today faces many complex challenges that threaten to disrupt our ability to communicate, travel, connect, live, work and play. We aim to provide innovative solutions that will improve our quality of life by addressing the challenges of sustainability, urbanization, climate change, mobility, renewable energy, and water. Our objective is to make ARCADIS one of the world’s strongest professional services organizations for the built and natural environment. To achieve

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Gross revenue in € million

2003

1786

1740

1233

1510

Gross revenue by business line

1 Infrastructure 26%

2 Water 19%

3 Environment 36%

4 Buildings 19%

2

3

4

1

Gross revenue by region

1 The Netherlands 20%

2 United States 53%

3 Europe* 17%

4 Rest of the world 10%

*excluding the Netherlands

23

4 1

10

09

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Net income from operationsin € million

78.4

74.3

70.0

50.0

62.3

6 ARCADIS ANNUAL ReVIeW 2010WHO We ARe

this, we rely on our core values of integrity, entrepreneurship and agility and on our long-term strategy, which is:• Focus on growth markets: our four business lines provide a

clear focus on growth markets and allow us to offer clients integrated solutions and one-stop shopping.

• Global network based on strong home market positions: this enables us to leverage expertise globally and serve multinational clients with consistent quality worldwide.

• Balance: we seek to create balance in everything we do. In our work for clients we aim for sustainable solutions that balance all stakeholder requirements.

• ‘One firm’ concept: we operate as one firm across the globe with a brand that reflects our mission and is recognized for quality and reliability.

• People are key: the commitment, skills and entrepreneurship of our people make the difference in today’s competitive markets.

Because demand for our services is driven by key themes in society, our strategy creates ample opportunities for long-term growth. Our strong local presence, long-term client relationships and know-how, give us a unique position in the market. As the growth potential is even higher in emerging markets in the coming years, our strategic focus will be to expand our presence in these areas.

OUr CLIENTSWe work for a broad range of public and private sector clients.

In Infrastructure, most of our work is for governments: municipalities, cities, provinces, states, ministries, etc. We also work for utilities, project developers, contractors and other private sector firms.

Most of our clients in Water are public bodies and authorities such as municipalities, water boards, provinces and states, central governments, and utilities, which may also be privately owned.

In Environment, we do a lot of work for the private sector, including the oil and gas, chemical and transportation industries. Many of the Fortune 500 companies are longstanding clients. We also work for governments; from federal clients (such as the U.S. Department of Defense) to municipal customers.

In Buildings, we mainly work for owners, managers, operators or developers of real estate, both in the public and private sectors.

Driving innovation Cerro Pachón, Chile

New technology is changing the way astronomers explore the universe, making it possible to exceed the traditional observational paradigm and undertake large-scale sky surveys. At the heart of this astronomic revolution is the innovative Large Synoptic Survey Telescope (LSST).

The LSST will produce vast volumes of high quality data, challenging the way in which science is presented and analysed and also how we answer fundamental questions, as billions of objects will be seen in the universe for the first time.

Most importantly, no existing telescope can do what the LSST will do. Its digital camera will be the biggest in the world at 3,200 megapixels, providing the best resolution image available, while the 8.4m telescope will delve deeper into the galaxy than ever before. The area covered will be much larger and revisited every three nights for 10 years to reveal changes in the sky.

Housing this unique technology will be a new observatory, currently under construction on the Cerro Pachón mountain, La Serena, Chile. It is expected to be operational by 2018. ARCADIS Chile has been developing the architecture and detailed engineering services for the three key areas of the project: the main telescope, the calibration telescope and the service building.

“This is the first time a project of such scientific importance and complexity has been developed in Chile, by Chilean professionals—a fantastic achievement,” says Juan Carlos Pozo, Project Manager at ARCADIS in Chile. “We are extremely proud of our contribution to this exciting astronomic innovation, which has consolidated our standing in delivering large, composite projects.”

UN GLOBAL COMPACT

WE ARE COMMITTED TO SUSTAINABLE AND RESPONSIBLE BUSINESS PRACTICES THROUGH OUR ONGOING SUPPORT FOR THE

7ARCADIS ANNUAL ReVIeW 2010

POSITIONINGDifferentiation in our highly competitive markets has never been more important. ARCADIS is an established, innovative and respected business leader and for over a century, has stood apart from the rest through steadfast commitment to its values and an emphasis on quality and sustainability. Now, more than ever, our work is vital to solving the challenges facing our clients and communities across the world in a sustainable way. Our position in the market is further defined by:

• Our full range of services within each business line, including consultancy, design, engineering and management services.

• Our commitment to clients and the benefit they gain from our knowledge and the collaboration of our talented professionals.

• Our solid client relationships and thorough knowledge of local market conditions, which allow us to compete in the regions where we work.

• Our ability to deliver global services to multinational clients, particularly in environmental services, as well as the water and real estate markets, where few companies can compete globally.

• Our solid risk management, which allows us to handle new types of contracts requiring a broad, multidisciplinary service offering.

STrATEGYARCADIS’ updated strategy is called ‘Leadership, Balance, Growth’ and aims to build and strengthen leadership positions in our business lines. The strategy is for the period 2011-2013 and will be an enhancement of the strategy that has enabled us to achieve our objectives in recent years. Our leadership ambition also includes:

• Superior growth and profitability: we strive to be in the upper quartile of our peer group and this is reflected in our financial goals.

• Quality, innovation and operational excellence: we seek to distinguish ourselves through the quality of our services and the innovative solutions we provide. This means excellence, not only in design and technical capabilities but also in operational skills.

• Focus on high added value services: leadership implies being active in the high end of the value chain, which has been a strong driver of our improved margins. We continue to look for opportunities to outsource or divest activities with lower added value.

NATURAL ENVIRONMENTS

WE STRIKE A BALANCE BETWEEN THE BUILT AND

Safety firstFlorida, USA

Comprehensive fire testing helps to save lives and protect buildings from fire hazards by using efficient, purpose-built testing facilities to find and develop the best suppression solutions.

In 2010, the Fire and Security unit of multinational conglomerate United Technologies Corporation (UTC) began work on a new Fire Innovation and Test (FIT) center at its facilities in West Palm Beach, Florida. The 15,000 square-foot center includes a main hall for live fire testing, a cold discharge hall, display area and conference room.

The development marks UTC’s growing engineering presence in Florida and will enable the company to conduct scientific testing of fire suppression systems and extinguishers. This knowledge will then be shared with industry regulators, while demonstrating the capabilities of the FIT center to customers.

The center is also designed to minimize its environmental footprint by recycling waste water and operating air emission control. It is also seeking to acquire the internationally-recognized green building Leadership in Energy and Environmental Design (LEED) certificate.

An ARCADIS and RTKL team is providing a range of design services for the center, including architecture, structural, mechanical, electrical, plumbing, civil engineering, landscape, waste water treatment and air emission control systems design.

“This project best demonstrates our integral approach through the consolidated offering ARCADIS and RTKL provide for client benefit,” says Mark Kendall, Vice President, RTKL. “The FIT center is a unique facility that will enable the delivery of leading technologies and cost effective solutions to UTC’s customers around the world.”

8 ARCADIS ANNUAL ReVIeW 2010WHO We ARe

KEY CLIENT TrENDS

We anticipate changing client needs by partnering with clients and other parties in the supply chain. This creates opportunities for larger projects and contracts, providing ARCADIS with a competitive advantage in the market.

• Front end services: client interviews have revealed an increasing demand for front end services to assist with policy planning and provide strategic consultancy, defining investment programs, and managing projects, programs and processes.

• Public-private partnerships: demand for infrastructure is high, but with government budgets under pressure, there will be a strong trend towards public-private partnerships. As the economy recovers, the availability of private funds is increasing, while governments will create conditions to attract private investments for financing of infrastructure.

• The globalization of industry: multinational companies increasingly seek service providers with global capabilities. Many have vendor reduction programs to safeguard quality standards and increase efficiency.

• Outsourcing and privatization: companies are focusing on their core businesses and outsourcing more non-core functions, such as environmental management services. A similar trend is visible in the public sector where budget pressures are enhancing the focus on policy making, while execution, including design and engineering, is outsourced to the private sector.

• Supply chain integration: clients demand alternative delivery methods to achieve better integration across the entire supply chain. This includes Design/Build and Design, Build, Finance and Operate (DBFO) approaches, whereby one party or a consortium takes wider responsibility for a project.

• risk participation: clients increasingly ask or require their suppliers to take on certain project risks. ARCADIS has internal procedures to control the risks involved.

• Employer of choice: we can only fulfill our leadership ambition if we are able to attract and retain the best people. We offer staff an international and inspiring workplace that provides ample opportunity for personal growth.

• Balance as key differentiator: balance goes beyond sustainability. It is part of our mission and at the heart of our business. Integrating sustainability in everything we do strengthens our market position and helps us attract and retain good people.

LONG TErM GrOWTH DrIvErSOur services and market position enable us to anticipate and respond efficiently and effectively to a broad range of societal trends that drive growth in our business.

• Urbanization: population growth and migration to cities is driving urbanization with the development of a growing number of mega cities, especially in emerging countries, which require huge site investments. In developed countries, deteriorated inner city areas are in need of remediation and redevelopment.

• Mobility: all large urban areas suffer from congestion, hampering economic development. Therefore major investment programs are required to expand capacity of roads, highways and public transportation, partly by introducing intelligent traffic management systems.

• renewable energy: expanding populations and economic growth, along with the need to reduce emissions, creates demand for renewable energy projects. This is a growth driver for all our business lines.

• Climate change: rising sea levels caused by climate change represent an unprecedented challenge for delta areas, where more than 50% of the world’s population lives. Our range of services include water management, flood protection, reducing greenhouse gas emissions, lowering carbon footprints and identifying new water resources.

• Water: scarcity of clean, safe, potable water has become a critical issue in many parts of the world. Water is already considered ‘the oil of the 21st century’ which leads to a rising demand for services related to water supply, treatment and reuse.

• Sustainability: preserving quality of life for future generations is of paramount importance. Sustainability is integrated in everything we do. Projects are evaluated in terms of their environmental impact, with the aim to take appropriate mitigation measures.

9ARCADIS ANNUAL ReVIeW 2010 WHO We ARe

Over 1,500 lives were lost when Hurricane Katrina devastated New Orleans in 2005, in addition to the unprecedented wave of destruction it left in its wake. The existing levees and floodwalls were never designed to operate efficiently as a comprehensive flood defence system. Many of these components were overwhelmed by the massive storm surges which breached levees and toppled floodwalls, while almost half of the city’s interior pumping stations were damaged by flooding.

Soon afterwards, the United States Army Corps of Engineers (USACE) was challenged with developing a Hurricane and Storm Damage Risk Reduction System (HSDRRS) to provide 100-year level flood protection for the west bank region of New Orleans, adjacent to the Algiers and Harvey canals. After considerable engineering and environmental study, the Corps determined that a closure structure, located downstream of the

canal convergence, would provide the most effective protection for the 250,000 people living in the tributary area and the numerous industrial and commercial businesses.

The Gulf Intracoastal Waterway West Closure Complex project consists of a navigable closure gate; floodwalls; levee extensions; and an enormous pump station capable of discharging 20,000 cubic feet per second of interior drainage seaward. The pumping facility, thought to be the largest in the world, is complete with safe house, standby power source, fuel storage, and numerous mechanical systems necessary for reliable operation.

The Corps partnered with ARCADIS to complete the construction plans, specifications and design for the pump station and one of the gates. It is also coordinating the completion of the project by contracting the work in four separate procurement packages.

10 ARCADIS ANNUAL ReVIeW 2010CLIMATe CHANGe

CLIMATE CHANGEA NeW DAWN FOR NeW ORLeANSNeW ORLeANS, UNITeD STATeS

The reality of climate change is visible every day. Rising sea levels, changing precipitation patterns, and intensified storms are just some of its indisputable effects. With a deeper understanding of the threats our planet faces, we are better able to address them and be prepared. ARCADIS has its roots in the Netherlands, one of the most densely populated delta areas in the world, and also one of the best protected against flooding. Our heritage and expertise make us uniquely qualified to share our knowledge and experience in this field, and help protect communities that are most vulnerable.

“The Corps is committed to working with both the public and its partners and stakeholders on all projects to complete the Greater New Orleans Hurricane and Storm Damage risk reduction System. We're using resources to expedite the design and construction process for this project as well as innovative measures and teaming with industry to build the best risk reduction solutions possible for Southeast Louisiana. We all have a role to play in reducing risks along the coast. No matter how well we succeed, residual risk remains. Every individual needs to understand their own remaining risk and to have a plan to protect themselves, their families and their property.”

Walter BaumyEngineering Division Army Corps of Engineers, New Orleans District

11ARCADIS ANNUAL ReVIeW 2010 CLIMATe CHANGe

Public transportation - we are leaders in rail infrastructure, with a unique combination of civil engineering and rail systems expertise.

Large transportation corridors and PPP - we have a strong track record in developing large transportation corridors, particularly bridges and tunnels, and experience in several European countries with Public-Private Partnership (PPP) and Design-Build. With public budgets under pressure, the market for large projects will shift to PPPs, allowing us to leverage our experience in developing smart, integrated solutions.

Ports and waterways – with our strong front-end consultancy and design capabilities, we can get involved at the early phases of projects.

INFrASTrUCTUrEARCADIS’ infrastructure professionals create the conditions for a better quality of life in communities around the world. We apply balance and customer focus to deliver efficient transportation systems and healthy places to live and work. This business line includes services for transportation, land development, energy and mining. The market predominantly serves national, regional and local governments, as well as railway companies, utilities, mining firms, developers and contractors. Because of this, we have developed in-depth local knowledge of conditions and client needs, as well as strong positions in our home markets, enabling our specialists to anticipate market developments, deliver tailored solutions and leverage our position globally. To achieve this, we focus on providing specialist expertise that is relevant internationally, including:

WHAT WE DO: BALANCE & CUSTOMER FOCUS

12 ARCADIS ANNUAL ReVIeW 2010WHAT We DO

Intelligent traffic systems – demand in this market is increasing and we possess specialist expertise in both the United States and Europe.

Reduced public expenditure led to a softening of the market in Europe with government budgets inhibited by austerity measures. However, our activities in the United States increased towards the end of the year, while there was strong growth in Brazil and Chile due to a strong economy and investments made in mining and energy.

The effects of sluggish economic growth are likely to continue into 2011, particularly in local markets in Europe. However, many large projects in the infrastructure market are based on multi-year programs for which financing is already in place. In other markets, such as Brazil and Chile, large contracts are providing a solid basis for continued growth.

ARCADIS in the Netherlands became the first consulting and engineering company to be certified at level five—the highest level available—having reported its sustainability activities in an accurate and transparent way, gaining a discount award of 10% in the tendering process.

The achievement reflects ARCADIS’ ambition to become a more sustainable company by formulating clear objectives for reducing CO2 emissions. “The CO2 performance ladder is an excellent initiative for rewarding sustainable ProRail work,” says Paul Hendriks, Director of ARCADIS Rail. “We are committed to working sustainably and proud that we have achieved the level five CO2 awareness certificate and we fully intend to reduce our carbon emissions even further.”

Climbing the CO2 performance ladderThe Netherlands

Managing environmental performance across the supply chain has become important to a number of large global contractors. In late 2009, Dutch rail operator ProRail launched its CO2 performance ladder, requiring companies to certify their CO2 production levels and develop concrete targets for reducing them.

The performance ladder rates companies according to this environmental parameter and incentivizes positive change by awarding points to the best performers participating in the tendering procedure for new ProRail contracts.

There are five certification levels and reaching level five enables a higher notional discount on projects, giving a competitive advantage to accredited companies. In January,

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Gross revenue Infrastructure in € million

515

507

515

462

506

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Ebita-margin Infrastructure in %

10.2

11.7

13ARCADIS ANNUAL ReVIeW 2010 WHAT We DO

WATErOur renowned Dutch heritage and levee experience make us well positioned to respond to the growing need for water services around the world. With a philosophy that focuses on the whole water cycle, we offer comprehensive services across the business line – from clean water supply, waste water treatment and water management of rivers, coastal zones, to issues related to climate change and rising sea levels.

The international water market is driven by a number of issues, including the increasing scarcity of potable water, and the effects of climate change through sea level rises and changing precipitation patterns. Following our merger with U.S.-based Malcolm Pirnie in 2009, we now have a top 10 position in the global water market and are one of the few consultants to cover the full water cycle. We have excellent client relationships, vast experience and an international network of strong local positions. To maintain this competitive edge, we must:

Expand water treatment in the United States – the need to upgrade existing facilities in big cities and regions is robust and we aim to expand our activities, leveraging Malcolm Pirnie’s considerable experience and eminence in the U.S. market.

Leverage our Dutch water management capabilities – with the success of our recent work in New Orleans, we will focus on coastal regions and rivers in the United States, Europe and Brazil.

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Gross revenue Waterin € million

374

259

131

100

116

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Ebita-margin Waterin %

8.9

7.2

Expand into selected new regions – we will leverage Malcolm Pirnie’s experience and reputation to expand internationally, initially targeting Brazil, Chile and the Middle East. We see opportunities for drinking water treatment in the Netherlands and Belgium and will also review our strategic options in Asia.

Despite pressure on local government spending, the business line experienced growth in 2010, largely as a result of the merger with Malcolm Pirnie. With the help of their experts, our water activities in Chile increased substantially. We saw a rise in water management in Europe, although pricing pressure and increased competition did lead to project losses in the Netherlands and Brazil. Overall, Malcolm Pirnie’s performance was in line with expectations.

Overall, the water market is less sensitive to budget cuts and with ARCADIS being active in the whole water market, we are optimistic about the opportunities ahead. Demand for process optimization and cost reduction among water companies is on the rise and in the United States, there is growing demand for the expansion and renewal of existing facilities in large cities. Recent flooding has put water management on the agenda again and we will continue to focus on vulnerable coasts and river areas in the United States and Europe. We also look to capitalize on growth potential in Chile, Brazil and the Middle East, utilizing the expertise and experience of Malcolm Pirnie.

Clean waters São Paulo, Brazil

Brazil’s beautiful beaches in the Santos metropolitan region have been marred for years by dirty waters that are polluted with sewage and rendered unhealthy to bathe in.

The lack of sewage treatment affects the quality of life for residents, of which only 53% have a wastewater system in their homes, and also impacts the local tourism industry. Several contaminated areas were the cause of waterborne diseases, leading to fewer visitors, which has impacted the livelihoods of nearby businesses and communities. In 2005, the São Paulo State Sanitation Company (SABESP) embarked on a huge project with the state government to increase the collection and treatment of sewage and improve the quality of the environment along the Santos coastline.

ARCADIS was part of a consortium providing project management on the development of seven new wastewater treatment plants, two submarine outfalls, 120 pumping

stations and 1,200 km of sewage network, main collectors and interceptors. This will substantially increase the amount of sewage collected in the area, which will then be treated primarily at the source. The program will directly benefit more than 500,000 residents.

The project also includes the development of an environmental monitoring system, which is vital for water quality management, particularly as the population of the region tends to swell quite significantly in the summer.

“The clean wave program is the largest environmental remediation project on the Brazilian coast and we are confident that the water quality has already improved and will continue to do so as we near completion,” says Durval Bacellar Jr., Director of Water Business at ARCADIS in Brazil. “The clean sea water will complement the stunning coastline of the region and drive tourism back to the area, while simultaneously improving business, the quality of life and health of local residents.”

TOP10POSITION IN THE GLOBAL WATER MARKET

15

ENvIrONMENTARCADIS is one of the world’s leading environmental services companies. Much of this market is driven by legacy issues related to soil, groundwater and sediment contamination, and the decommissioning of industrial operations. This business line also covers environmental assessments, site closure and reuse, product stewardship issues, climate change mitigation – including carbon footprint reduction – health and safety issues, noise abatement, and solid waste disposal.

Our competitive strength lies in the global network and resources that enable us to serve multinational clients; our advanced and cost-effective remediation technology; our GRiP® program for guaranteed remediation solutions; and our strong health and safety culture.

We aim to build on our position as the world’s leading provider of environmental services by continuing to respond effectively to emerging client requirements, especially in the private sector, while strengthening our position in new markets. To reach our goals we are committed to:

Growth in current geographies – a clear and relentless focus on multinational and key national clients, utilizing our advanced remediation skills to drive growth in Europe and Brazil. We will also expand our position in the United States.

Developing the gas pipeline networkPoland

Domestic gas production in Poland accounts for just 30% of the country’s total supplies, with the remainder imported predominantly from Russia and, to a lesser extent, other nations. To ease its over-reliance on any single supplier and increase its energy security, the Polish government has begun constructing a new liquefied natural gas (LNG) terminal at Świnoujście, near Szczecin, in the western part of Poland's Baltic coast.

The terminal will require a network of more than 1,000 km of new pipelines to carry the gas across the country. The terminal and pipeline is scheduled for completion by 2014 and is expected to receive around 2.5 billion cubic metres of liquefied gas each year.

ARCADIS is working with national gas operator GAZ-SYSTEM S.A., which is responsible for overall project implementation of the new pipeline, and ILF Consulting Engineers Polska, which is designing the high-pressure natural gas pipelines. The scope of ARCADIS’ services was to prepare an environmental impact assessment for the implementation of the pipelines and to then monitor the procedure of obtaining an environmental permit. It also prepared documentation to supplement applications for European Union co-financing to support this energy investment.

“ArCADIS is a consultant we know and trust and its experience in large-scale infrastructural projects has been invaluable; enabling us to press ahead with the project efficiently.”

renata CichockaContract Manager for ILF Consulting Engineers

Polska.

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Gross revenue Environmentin € million

733

632

643

465

537

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Ebita-margin Environmentin %

12.3

12.3

13.7

13.5

12.0

ARCADIS ANNUAL ReVIeW 201016

Expanding into select new regions – prioritize promising markets in Canada, Asia and Australia, delivering services to our multinational clients.

Diversifying capabilities - expand services in Strategic Environmental Consultancy, and Environmental Permitting and Planning. Also focus on D4 (Deactivation, Decommissioning, Decontamination and Demolition), while leveraging our strong oil and gas client base to generate opportunities in upstream and offshore work.

The environmental market showed signs of recovery in 2010, with growth coming through increased private sector spending in the United States and Brazil, on the back of an improving economy. This was partly offset by poor performance in Europe, where there is less government expenditure and little private sector demand.

The environmental market is expected to recover further in 2011, led by private sector focus on core activities, while demand for consultancy services for energy savings and carbon footprint reduction is increasing. An upturn is already visible in the United States and Brazil and it is expected that Europe’s economic recovery will drive demand there. With our advanced technology and international positions, we aim to capitalize on opportunities to increase market share. The GRiP® pipeline is robust and several framework contracts with the U.S. Army are yielding work, both in the United States and in Europe.

Sustainable highway A65 Langon - Pau, France

Launched in 2007, Le Grenelle Environnement is an open multi-party roundtable debate that is shaping the French government’s policy on ecological and sustainable development issues. It brings together government, local authorities, trade unions, businesses and voluntary organizations to plan concrete measures that will help protect the environment.

One of the areas covered by Grenelle is road infrastructure. Strict guidelines were issued affecting the design and construction of highways, necessitating an evaluation of their environmental impact. This must then be offset by implementing measures such as landscape integration, archaeological conservation and protection plans for the surrounding environment.

ARCADIS was part of the public-private-partnership (PPP) scheme that modified the A65, the first French highway to meet the new rules. Having evaluated the potential impact, the original design was adapted with parts of the layout diverted and viaducts constructed to avoid disturbing environmental areas of significance. An impermeable drainage network, with a water treatment system, was also installed. ARCADIS was involved in project design and works supervision. The A65 was completed in December 2010 and is expected to become a paradigm for future infrastructural developments in France. The new road cuts 90 minutes off the journey from Bordeaux to Pau while making it safer than the previous route.

“This project underlines our ability to perform under PPP contracts, while working within the boundaries of stricter environmental regulations. This positions us well for future infrastructure developments in France and other European markets,” says Nicolas Simonin, CEO of ARCADIS in France.

NO.1GLOBAL PROVIDER OF ENVIRONMENTAL SERVICES TO PRIVATE SECTOR

ARCADIS ANNUAL ReVIeW 2010 17

• Expanding front-end capabilities. This allows us to be more involved in earlier phases of projects and offer deeper pools of services. Our program management capabilities assist clients with realizing their investment programs and master planning and workplace strategy capabilities.

• Expanding in to Asia, Middle East and Brazil. These geographies offer considerable growth potential. In Asia, we seek to grow our business organically and through acquisitions; while, in our other markets, our focus is on expansion based on our present positions.

As anticipated, the buildings market, which continued to be affected by the economic crisis, showed the first signs of recovery in late 2010. Significantly, RTKL experienced a notable increase in project opportunities from Asia and the Middle East. At the same time, improvements were noted in Germany, the Netherlands and United Kingdom, although this was partly offset by margin pressure elsewhere.

BUILDINGSThis market is largely driven by private sector investments. It includes institutional investors, such as REIT’s and private sector developers, healthcare and educational institutions, end-users, and government agencies. In recent years, the business has moved to offer services with higher added value, such as architectural design and master planning, management services, consultancy and specialized engineering. With RTKL, we are fast-developing a leadership position in the global buildings market.

ARCADIS has a strong independent position to provide project management worldwide. Despite the market’s sensitivity to economic cycles, a strong demand remains for integrated services, which include sustainable approaches and consultancy, especially for corporate multinationals which are increasingly seeking global partners.

We have identified three pillars to achieve our ambitions:

• Focus on Healthcare and Workplace. In Healthcare, we have a unique combination of skills, including high-level design, technical expertise, equipment planning and experienced project management. In Workplace, we use our multinational client program to develop and leverage relationships with these sizeable clients who benefit from our seamless global service delivery.

New hospital in ShanghaiShanghai, China

The Chinese healthcare market is rapidly changing through an ambitious government healthcare reform plan unveiled in 2009. The government earmarked some US $124 billion to be spent on a three-year improvement program to fulfill the country’s commitment to providing universal healthcare coverage for its population of 1.3 billion. It will also fund the development of community hospitals and clinics across China’s vast rural districts, while expanding urban hospitals to serve as comprehensive regional hubs.

In March, ARCADIS subsidiary RTKL, and its Healthcare Practice Group, were chosen to design the Shanghai Changzheng New Pudong Hospital—the largest single-phase medical center development in China, with a total planned floor space of 361,000 m2. It will be located in the Pudong district, one of China’s most vibrant financial centers.

The 2,200-bed hospital will cost US $413.9 million to build and will feature four in-patient towers, a VIP tower, an

out-patient complex, an emergency centre, and an infectious diseases building. Outside of patient care, plans include research and teaching facilities, dormitories for students and staff, an administration building, and a conference and reception facility.

”Our design for the new Shanghai Changzheng New Pudong Hospital recognizes China's desire for state-of-the-art facilities to serve increasingly sophisticated healthcare consumers,” says RTKL Executive Vice President Brad Barker. ”We want to create a hospital distinguished internationally by its advanced design, excellence in patient-focused care and innovation through research, teaching and technology.”

RTKL has considerable experience in developing world-class medical campuses and is providing master planning and design for the project, thereby significantly strengthening ARCADIS’ local presence and creating a springboard for gaining other healthcare projects in China.

LEADERSHIP POSITION

WE ARE DEVELOPING A FAST GROWING

The situation in the buildings market has improved and this provides the platform for ARCADIS to expand into markets of considerable growth potential in 2011. Uncertainty about reform is causing delays in the U.S. healthcare market, but RTKL remains fully geared on international expansion, with a focus on Asia and the Middle East. The market for commercial real estate in Europe and the United States is stable and the demand for redevelopment of existing real estate is starting to increase. Although project management for publicly funded projects is under pressure, our global network has already yielded several framework contracts with multinationals for offices, laboratories and data centers.

10

09

08

07

06

Gross revenue Buildingsin € million

381

388

451

206

351

10

09

08

07

06

Ebita-margin Buildingsin %

8.2

6.0

8.7

9.9

7.3

19

20 ARCADIS ANNUAL ReVIeW 2010WATeR

WATERReSTORING THe HIGHLAND ReSeRVOIRROCHeSTeR, NeW yORk, USA

The scarcity of clean, safe, potable water is a problem that is growing more acute with each passing generation. For this reason, societies are increasingly demanding critical services related to water supply, treatment and reuse. ARCADIS’ expertise in water means it is ideally suited to help its clients modernize and safeguard essential water supplies, and maintain compliance with evolving regulations while preserving local historic features and landmarks.

One such landmark in need of renovation was the City of Rochester’s Highland Reservoir. The 26 million gallon water storage facility—a critical part of the city’s water supply system—was built in the 1870s and is now situated in the centre of Rochester’s 120 year-old National Historic Registered Highland Park. However, with leakage from the reservoir damaging the park and threatening public safety, the facility was no longer compliant with New York State Dam Safety rules or United States Environmental Protection Agency (USEPA) drinking water regulations.

Focusing on the reservoir’s historic significance, Malcolm Pirnie, the water division of ARCADIS, designed a sustainable solution that would eliminate leakage, achieve regulatory compliance and ensure minimal disruption to the park. Over 4,000 cubic yards of the original stone lining was crushed and placed on the side-slopes to create a more stable foundation for a new geomembrane liner to prevent leakage. Horizontal drilling techniques protected the park’s collection of 100-year-old trees during pipeline construction, while 1870s-vintage cast iron conduits were lined to prevent catastrophic pipe failures.

21ARCADIS ANNUAL ReVIeW 2010 WATeR

“The City came to Malcolm Pirnie with a specific budget to fix our historic drinking water reservoir and they successfully delivered this award winning project—within budget—while carefully protecting the historic nature of this reservoir. They effectively navigated a myriad of permit requirements to secure approval from NYSDEC and SHPO for this reservoir, which is listed on the National register of Historic Places.”

robert L. MorrisonDirector, rochester Water Bureau

22 ARCADIS ANNUAL ReVIeW 2010OUR ReSULTS

SELECTED FINANCIAL DATA

COMPOUND ANNUAL GROWTH OF 19% OF NET INCOME FROM OPERATIONS OVER THE LAST 5 YEARS

Revenue 2010 2009 2008 2007 2006

Gross revenue 2,003 1,786 1,740 1,510 1,233

Net revenue 1,375 1,218 1,162 1,004 837

Operating results

EBITA 135.9 121.6 131.8 107.2 78.8

EBITA recurring 135.9 123.8 131.8 105.9 78.8

EBITA margin, recurring (in %) 9.9 10.2 11.3 10.5 9.4

Operating income 129.6 114.4 119.6 95.0 70.5

Associates 0.7 _ (0.1) (0.8) (0.5)

Net income from operations 1) 78.4 74.3 70.0 62.3 50.0

Net income 73.9 72.8 57.3 54.9 44.9

Capital employed

Balance sheet total 1,424.5 1,315.2 1,058.4 921.7 736.5

Average invested capital 670.3 538.4 478.2 349.4 269.6

Return on average invested capital (in %) 13.9 15.4 18.1 20.1 20.3

Total equity 411.2 368.5 219.9 199.2 200.7

Total equity as % of balance sheet total 29 28 21 22 27

Interest coverage ratio 7 10 7 14 17

Net debt to EBITDA ratio ²) 1.4 1.0 1.3 1.1 0.4

Net cash provided by operating activities 91.8 152.5 80.5 78.9 86.4

Total shares outstanding at December 31 (in thousands) 66,066 66,493 60,101 60,502 60,915

Data per share (in euros)

Net income from operations 1.19 1.18 1.16 1.02 0.82

Net income 1.12 1.15 0.95 0.90 0.74

Dividend proposal 0.47 0.45 0.45 0.41 0.33

Shareholders’ equity 5.80 5.20 3.35 3.03 3.05

Personnel 3)

Average number of contract employees 14,590 13,519 13,180 11,304 9,685

Average number of employees total 4) 15,531 14,417 13,977 12,408 10,728

Total number of employees at December 31 4) 15,905 15,195 14,101 13,391 11,533

Carbon footprint per FTE (in metric tons of carbon dioxide equivalents)5)

Auto transport 2.15 2.08 2.20

Air transport 1.05 0.76 0.96

Public transport 0.06 0.05 0.05

Office energy use 2.14 2.38 2.66

Total 5.40 5.26 5.87

In millions of euros unless otherwise noted

1) Net income excluding amortization and non-operational items2) From 2008 onwards calculated according to bank covenants3) The headcount includes the total number of employees of proportionally consolidated companies4) Including temporary staff5) 2008 and 2009 figures adjusted for consistency with GRP Guidlines

23ARCADIS ANNUAL ReVIeW 2010 OUR ReSULTS

OUR RESULTS ATTEST TO THE SUCCESS OF OUR BALANCED STRATEGY

ARCADIS achieved revenue and profit growth again in 2010, despite the difficult market conditions as we continued to sharpen our client-focused approach and benefit from cost measures taken in previous years. Revenues grew by 12% and surpassed the € 2 billion milestones for the first time, while net income from operations (before amortization and non-operational issues) increased by 6% to € 78.4 million. This strong performance was the result of recovering demand in the U.S. environmental market, successful expansion of our architectural design practice RTKL in Asia and the Middle East and favorable market conditions in Brazil.

rEvENUE AND PrOFITAfter a substantial organic decline of revenues in 2009 caused by the economic crisis, we saw a return to organic growth in the second half of 2010. In the United States, the economic recovery resulted in an increasing demand for environmental services, while in Chile and particularly Brazil, the strong economy pushed demand in the mining and energy sectors. The resulting growth was offset by Europe, where all countries except Germany saw a revenue decline, mainly due to lower demand from local governments. RTKL recovered strongly with growth in the second half, benefiting from attractive healthcare and commercial property markets in Asia and the Middle East. Growth in net revenue was somewhat ahead of growth in gross revenue, caused by the completion at the end of 2009 of a hydropower project in Brazil with substantial subcontracting. The growth from acquisitions came mainly from Malcolm Pirnie. The currency impact of 4% resulted from a weaker euro against most other currencies.

The geographical mix shifted towards the United States, caused by the consolidation of Malcolm Pirnie for a full year and by a stronger U.S. dollar. In addition, gross revenues in the United States and Rest of the World grew organically, while Europe saw organic declines, with gross revenues in the Netherlands being impacted by a strong reduction in subcontracting. In the portfolio composition, Water increased due to Malcolm Pirnie, with Environment gaining as well due to organic growth and a positive currency effect. Buildings still suffered from organic declines in revenues while Infrastructure saw strong declines in subcontracting, both in Brazil and the Netherlands.

Operating income increased 13 % to € 129.6 million (2009: € 114.4 million). On a recurring basis, EBITA increased by 10% to € 135.9 million (2009: € 123.8 million). Net income from operations (before amortization and non-operational items) was € 78.4 million, an increase of 6% over the € 74.3 million in 2009. Per share, this is € 1.19 compared to € 1.18 in 2009.

The margin (recurring EBITA as % of net revenue) came out at 10.1% (excluding a minus € 3.2 million impact of Brazilian energy projects) which is around our target level of 10%, and only slightly lower than the 10.2% in 2009.

CASH FLOW AND BALANCE SHEETNet cash from operating activities fell to €92 million (2009: € 152 million). Free cash flow, after regular investments/ divestments in ongoing business, fell to € 58 million (2009: € 128 million).

The balance sheet total rose to € 1,425 million (2009: € 1,315 million), while goodwill increased to € 353 million (2009: € 325 million), € 10 million caused by acquisitions and the remainder by currency effects.

Four acquisitions were completed during the year, all in the Buildings business line. In the Netherlands, we added Plan & Projectpartners, a real estate consultancy firm primarily active in the healthcare field with 30 people. In China, we added AHS, a 45 person architectural unit that specializes in hospital, laboratory and medical facility design. In Germany, GFÖB was acquired, with 15 employees specialized in sustainable buildings. The acquisition of Rise International in the United States, with 180 people active in project and program management, strengthens our position in these high-level services and provides a solid basis for further expansion in the U.S. private sector.

Balance sheet ratios remained strong at year-end 2010:• net debt to equity ratio was 0.5 (2009: 0.5);• net debt to EBITDA ratio was 1.3 (2009: 1.1);• interest coverage ratio was 7 (2009: 10).

24 ARCADIS ANNUAL ReVIeW 2010MObILITy

In September 2010, the Prague ring road, Expressway R1, was opened to relieve the congestion on some of the city’s busiest routes and significantly reduce travelling time through the country. The south-west point of the ring road connects the D1 motorway to Brno with the D5 highway to Pilsen—leading to Germany—through the newly constructed Lochkov tunnel.

ARCADIS Geotechnika was part of a consortium that provided comprehensive geotechnical monitoring on the 1.7 km mined tunnel, starting with an exploratory excavation in 2004. It continued to monitor the tunnel and surface

MOBILITYeASING CITy CONGeSTIONPRAGUe, CZeCH RePUbLIC

Situated at the heart of the continent, the Czech Republic has become a gateway to Central and Eastern Europe (CEE) for global business, spurring the rapid growth of its economy. However, with neighboring countries also looking to develop trade and investment opportunities, the Czech Republic is under mounting pressure to expand its infrastructure. Such development employs one of ARCADIS’ core business lines and utilizes our expertise in creating sustainable, efficient and sophisticated road and rail networks.

structures throughout the four-year construction period, providing reliable information and measurements using its innovative internet database system BARAB®.

The BARAB® system uses a Geographic Information System (GIS) to enable all points of a construction to be located and measured. It also integrates the technical aspects of a project, such as meeting notes, with the measurements collected to provide the user with a fully accessible project database and monitoring system, wherever they are in the world.

25ARCADIS ANNUAL ReVIeW 2010 MObILITy

“The Lochkov tunnel is integral to the Prague ring road and enables drivers to seamlessly pass through the Czech republic, without having to travel on small village roads or through the busy city center. Our specialist knowledge of underground constructions, aligned with our complex monitoring system, enables us to inform both the client and the contractor about the deformation behavior of the construction and provide economical solutions, while ensuring the safety of adjacent buildings, residents and tunnel workers.”

radek BernardProject Manager for Geotechnical Monitoring

at ArCADIS Geotechnika

City Crossing Shenzhen, China

SUSTAINABLE GROWTH

OUR UPDATED STRATEGY PROVIDES A FOUNDATION TO ACHIEVE

27ARCADIS ANNUAL ReVIeW 2010 OUR OUTLOOk

OUR OUTLOOK IS BASED ON SOUND FINANCIAL MANAGEMENT

The economic recovery is leading to increasing investment from the private sector, with the markets in which we operate now stabilizing. However, pricing pressure in the public sector remains a concern, partly offset by the significant opportunities to grow market share in emerging economies.

InfrastructureIn the infrastructure market, ARCADIS works on large multiyear projects, for which financing is secured, such as the A2 through Maastricht and the high-speed railway line from Tours to Bordeaux. Public-Private Partnerships (PPP) for such developments are increasing, while there is also rising demand for intelligent traffic systems. Pricing pressure is likely to continue in local markets. However, investment is strong in Brazil and Chile, with the 2014 FIFA World Cup and 2016 Olympics in Brazil being big drivers for further development.

WaterIn the water market, ARCADIS’ focus on the whole water cycle will provide growth opportunities in 2011. This business line is less sensitive to budget cuts as it mostly concerns utilities with projects financed from specific water charges. We will continue to focus on vulnerable coastal regions and rivers in Europe and the United States, with recent floodings having put this issue back in the spotlight. In the United States, the expansion and upgrading of existing facilities in large cities is increasing, while demand for process optimization and cost reduction among water companies is on the rise. We have a top 10 position in the global water market and aim to build on this by leveraging Malcolm Pirnie’s expertise and experience to capitalize on growth opportunities in Brazil, Chile and the Middle East.

EnvironmentThe increasing demand for services from the private sector gives optimism for further recovery in the environmental market. This is clearly visible in the United States and Brazil, while economic recovery in Europe is expected to drive demand from companies there. Several framework contracts with the U.S. Army are also yielding work, both in the United States and in Europe. Overall, companies have had to focus more on core activities, while considering vendor reduction and outsourcing of environmental services. Our advanced technology and international positions enables us to benefit from this shift and increase market share. Contracting of new GRiP® projects was delayed but the pipeline is well filled. Our integrated sustainability offering will drive growth and we aim to capitalize on heightened demand for consultancy services for energy savings and carbon footprint reductions.

BuildingsThe buildings market has improved, with commercial real estate in the United States and Europe stable. Demand for redevelopment of existing real estate is also beginning to rise. Although the market for project management for publicly funded developments is under pressure, private sector investment is increasing. Our global network has already yielded several framework contracts with multinationals for offices, laboratories and data centers – both for design services and project management. Uncertainty about reform is causing delays in the U.S. healthcare market, but RTKL has a healthy backlog of assignments in Asia and the Middle East and is focused on further international expansion.

Increased private sector investment is being driven by the economy in the United States and Europe. However central governments in Europe have announced measures to balance their budgets, impacting public sector spending, which until now had only affected local governments. The same is happening in the United States and it is unclear how this will affect the economy and markets relevant to us. Conversely, market conditions in Brazil and Chile are very favorable, while opportunities for further growth exist in Asia and the Middle East.

28 ARCADIS ANNUAL ReVIeW 2010ReNeWAbLe eNeRGy

To this end, the European Union, China, India, Russia, Korea, Japan and the United States are collaborating on the ITER project, constructing an ambitious installation that will demonstrate sustainable energy on-site in Cadarache, near Aix-en-Provence in Southern France.

ARCADIS’ Safety and Risk Management (SRM) team from the United Kingdom has been providing specialist human factors advice on-site since 2009. It has consolidated knowledge and its offering with ARCADIS in France, which has advised on local French construction regulations and provided geological support to an important site contractor.

ARCADIS has supported the development of operational procedures to ensure the safe and reliable function of the facility and also undertaken studies to provide assurance that the proposed design, procedures and staffing levels are appropriate for the anticipated tasks.

RENEWABLE ENERGYFUSING NeW eNeRGyCADARACHe, FRANCe

Sourcing sustainable energy is one of the biggest challenges facing governments today, with global energy consumption expected to triple by the end of the 21st century. However, supply from fossil fuels not only has a profoundly negative impact on the environment, it is a resource that is being rapidly depleted. ARCADIS recognizes the increased demand for energy and is committed to driving change by helping those seeking renewable ways of supplying it.

29ARCADIS ANNUAL ReVIeW 2010 ReNeWAbLe eNeRGy

“We’re extremely excited and proud to be involved in such a groundbreaking project that is of utmost importance to the global environment. Our advice and operational support will contribute to ensure the smooth running of the installation and we fully intend to build on our work to date in supporting the extraordinary vision of the ITEr team for 2011 and beyond.”

Gary BamfordDirector, ArCADIS SrM

“Having integrity means knowing our values, beliefs and principles, and behaving in a way that is consistent with these values. Integrity is what we do, what we say, and what we say we do. It builds trust, and trust is the glue that holds our relationships together.”

rula DeebTechnical Director, ArCADIS US

OUr PEOPLEAt ARCADIS, we aim to be an employer of choice, offering an international and inspiring workplace that provides ample opportunity for personal growth. Throughout our global operations, we seek to attract, engage and develop excellent people with strong values. In doing so, we create an environment in which a strong business commitment and a high degree of professionalism are the standard.

People are attracted to ARCADIS because of our:• Core values: integrity, entrepreneurship and agility.• Innovative and challenging projects that make a positive contribution

to society.• Long-term relationships with clients who recognize and reward the

added value we provide.• Culture, which meets the expectations of high-level professionals

and focuses on autonomy, entrepreneurship and personal and professional development opportunities.

• Sharing and rewarding success appropriately.• Healthy and safe work environment.• International and diverse workforce at all levels of the

organization.

Increase in total number of employees The total number of employees at year-end 2010 increased to 14,963 (2009: 14,287). Including temporary staff, capacity at year-end 2010 increased by 5% to 15,905 (2009: 15,195). This was partly caused by smaller acquisitions, but to a larger extent by organic growth of our business in Brazil, Chile, the United States, and at RTKL.

OUR VALUES ARE THE FOUNDATION FOR THE WORK WE DO

30 OUR VALUeS

“Integrity is innate. It speaks to the core of the people we are. It’s a simple rule, but it means we do the right thing and treat our clients and communities the way we would want them to treat us.”

Kristina Miller, PEProject Manager, TKI Technical Support Leader for

Infrastructure NEPA/Natural resources, ArCADIS US

New headquarters improves communicationOur new international headquarters in the Symphony office tower at the Zuidas, Amsterdam, provides space for 40 corporate staff, including the Executive Board. This reflects ARCADIS’ increasingly global profile and fits our strategy of creating synergies in the interests of our clients.

EngagementStaff engagement remained high and we began to benchmark our engagement levels externally. Our support for UN-HABITAT is an important driver, enabling our staff to contribute in resolving world problems. The Global Account Managers program continued to operate successfully, with 20 global managers participating. As part of this initiative, the Global Account Career Track program clearly defines a roadmap for ARCADIS professionals who seek a career in global account management.

Strengthening Global Account ManagementOur global account managers program continued to operate successfully in 2010. The program aims to support our client-focused approach, which is key to the success of our growth strategy. The Global Account Career Track is part of the program. This provides ARCADIS employees, who have the ambition and ability for a career in global account management, with a clearly defined roadmap that accelerates their career, while at the same time allowing ARCADIS to enhance its competitive edge.

Developing knowledgeWithin ARCADIS, we use different channels to enable collaboration

and knowledge sharing, including web events, podcasts and social networking.

Developing talent in a challenging environmentIn order to achieve our ambitions, it is essential to have the best

people in key positions throughout the organization, now and in the future. The ARCADIS Leadership Model is used to select, assess and develop current and future leaders while our Talent Challenge, involving self-assessment and training, helps our most talented people re-assess their priorities and career paths.

Sharing in successSince 2001, Lovinklaan Foundation, ARCADIS’ largest shareholder representing the employees, has facilitated an employee share purchase program to stimulate share ownership among employees and increase their involvement in the Company. In 2010, 363,556 discounted shares were distributed to employees under the program, with more than 4,400 employees participating.

16,000 PEOPLE

IN 2010 WE EMPLOYED ALMOST

ACCROSS THE GLOBE

31ARCADIS ANNUAL ReVIeW 2010 OUR VALUeS

OUr COMMUNITYAt ARCADIS, we recognize that everything we do has an impact on the people around us, whether they are employees, clients, shareholders, suppliers or the residents of the communities in which we work. In addition to the important work we do, we seek to play a positive role in community initiatives by supporting programs that address societal needs and by sponsoring and actively participating in community projects. In some countries, we also encourage our employees to co-contribute to community projects.

ShelterARCADIS’ partnership with UN-HABITAT, the United Nations agency for human settlements, was inaugurated in March 2010 with a common objective to improve the quality of life in rapidly growing cities around the world.

Despite this being just our first year, we have already achieved many significant milestones. In September, a team consisting of five urban planners, architects and experts in potable water participated in an international sanitation mission to Haiti as part of the reconstruction effort following the earthquake there in January 2010. This was followed by further missions to Haiti in October and November. Our activities will be expanded in 2011 as we aim to raise awareness of the program and develop our Shelter missions.

Our high standards for responsible business conduct are outlined within our Corporate Social Responsibility policy, which forms the foundation of our business practices. The policy applies to all employees and contains clear guidelines on the fundamentals of our approach: integrity, transparency, accountability and maintaining the highest ethical standards. In turn, these standards foster respect for employees, local cultures and the environment. They can be summarized as follows:

Integrity and corporate governanceIntegrity is a core ARCADIS value. We have developed and endorsed a clear set of General Business Principles to promote this value across the company. More than just a single action or belief, integrity lies at the foundation of our business and is the fulfillment of our responsibility to our clients and

Geographical spread personnel

1 The Netherlands 3,284

2 United States 6,226

3 Europe* 3,765

4 Rest of the world 2,630

*excluding the Netherlands

2

3

4

1

Managing environmental riskBrazil

Protecting the Amazon Rainforest and the surrounding springs, rivers, mangroves and communities is integral to maintaining the biodiversity of an area that represents over half of the planet’s remaining rainforests. It is also of importance to Brazil’s export industry with many sections of the forest running alongside the Carajás Railroad (EFC)—the central cog in a logistics network that transports some 93 million tons of freight every year.

The railroad is run by VALE, Brazil’s leading mining company, and it connects the largest opencast iron ore mine in the world with the port of São Luís. In addition, the EFC passenger train transports more than 1,300 people every day between the states of Pará and Maranhão. However, during its 26 years of operation much of the railroad has become contaminated as a result of the impact of out-dated practices and accidents.

ARCADIS was invited to assess, manage and remediate more than 40 contaminated areas along the railroad, including those located in mangrove areas and the Amazon rainforest. The areas comprise storage tank or refueling areas, industrial, sanitary and contaminated soybean landfills, locomotive workshops, sites of accidents involving tank cars and areas destined for sleeper storage and treatment.

“Our main objective has been to protect the very sensitive environment surrounding the contaminated areas to ensure that the natural resources of the forest are preserved,” says André Rebouças, Director at ARCADIS Tetraplan. “Our remedial work has taken into account the unique conditions of each site, using a sophisticated system to analyze the type of contamination and the logistical challenges presented in some of the more remote areas of the Amazon Rainforest, where there is limited infrastructure.”

Work is expected to be complete by 2015.

32 ARCADIS ANNUAL ReVIeW 2010

“Integrity is the foundation of our business. If we compromise that, we put our future at risk. In doing business, our integrity must be non-negotiable.”

Michael EricksonArCADIS US

the cultures and countries in which we operate. Integrity also implies transparency, accountability and proper supervision. Thus, we have adopted a Corporate Governance structure that is aligned with the best practices and principles of the Dutch Corporate Governance Code.

Customer and supplier selection and contract termsWe approach any project with the aim to be a reliable partner for our clients and to carry out our services without jeopardizing the interests of society, employees or shareholders. We achieve both goals simultaneously by working for our clients in accordance with a wide range of compliance and risk management practices. We make sure our values and independent judgment are never compromised by the terms of a contract.

Corporate Social responsibilityARCADIS recognizes the principles of sustainable development and acknowledges the challenge of balancing the needs of business with the needs of the environment. As a member of the U.N. Global Compact, we are committed to sustainability at every level. Our goal is to reduce our ‘corporate’ impact on the environment through our Global Sustainability Program. In 2008, we set a five-year goal to reduce our carbon footprint by 50%, on a full-time equivalent basis, and are committed to benchmarking our progress against it each year. As of 2010, we have achieved a reduction of 19% compared to the original 2008 baseline measurement.

Compliance with local laws and customs, and community involvementARCADIS complies with the laws and respects the cultures of the countries in which it operatesd. We recognize our responsibility to be a good corporate citizen and give back to the societies and communities in which we work through regular sponsorship of community projects – either by ARCADIS or one of its shareholder-based foundations.

Equal opportunity, health and safety and a culture of personal growthARCADIS values employees and strives to create a work environment that encourages communication, engagement and responsibility, as well as personal development that recognizes the optimum use of talents. Within ARCADIS, no form of discrimination or harassment is tolerated and every employee has an equal opportunity for personal recognition, advancement, career development and compensation, regardless of personal background or beliefs. As part of this commitment, we seek to create a healthy, safe and secure work environment that protects staff from injury, illness and harassment. We approach health and safety in a systematic way that reduces and manages risks throughout the company. This approach is outlined in our Health and Safety vision and policy, which is led by management and supported by a global management system of internationally recognized standards.

33ARCADIS ANNUAL ReVIeW 2010

34 ARCADIS ANNUAL ReVIeW 2010SUSTAINAbILITy

“Sustainable building involves more than just using sustainable materials and we are extremely excited about the positive impact this facility will have on the environment. ArCADIS is an important partner in the project, not only to ensure the reduced energy consumption of the building but also in considering the physiological impact it will have on the people who live and work there —comfort is key”

Alain YzermansMayor of Houthalen-Helchteren

35ARCADIS ANNUAL ReVIeW 2010 SUSTAINAbILITy

SUSTAINABILITYbUILDING FOR eNeRGy eFFICIeNCyHOUTHALeN-HeLCHTeReN, beLGIUM

The pressure to promote sustainable development is more intense than ever. Several industrial countries are looking to reduce their greenhouse gas emissions in line with Kyoto Protocol targets for 2012, and a number of regional governments have set themselves independent goals. They aim to maximize the social and environmental benefits of local sustainable development work and have found an ideal partner in ARCADIS. We want to preserve our natural environment and amenities for future generations and do so by helping supply more sustainable infrastructure and buildings.

One of the most ambitious regional plans is in the Belgian municipality of Houthalen-Helchteren, located in the province of Limburg, which is working towards a 90% reduction in its carbon footprint by 2050. As part of these efforts it is constructing a new administrative center that is set to become the country’s most energy efficient office building. Several municipality services will be integrated inside the low-energy structure which will produce an efficiency level of E45, meaning that energy consumption will be only 45% of the normal building standard.

ARCADIS is providing structural and stability calculations and drawings, technical design, environmental infrastructure and sustainability services. It is part of a consortium, THV

Mandala, seeking to create a sustainable complex that will strike an optimal balance between ecological, economic and social needs.

One of ARCADIS’ most significant contributions has been towards increasing energy efficiency. This was achieved by optimizing the building’s insulation and using geothermal energy (heat and cold storage), efficient energy lighting and concrete flooring that ensures a comfortable temperature all year round.

Once completed, the administrative center will integrate municipal services, social security services, and a library. The building will open in June 2012.

36 TITLe ARCADIS ANNUAL ReVIeW 2010

360 MALL Kuwait City, Kuwait

37ARCADIS ANNUAL ReVIeW 2010 bALANCe

IT’S ALL ABOUT BALANCE

CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT DECEMBEr 31 Before allocation of profitIn Eur 1,000

Assets 2010 2009

Non-current assets

Intangible assets 373,390 342,691

Property, plant & equipment 93,364 84,788

Investments in associates 30,493 26,221

Other investments 193 211

Deferred tax assets 29,131 17,959

Derivatives 86 1,207

Other non-current assets 24,404 19,818

Total non-current assets 551,061 492,895

Current assets

Inventories 419 467

Derivatives 370 102

(Un)billed receivables 591,985 555,090

Corporate income tax receivable 4,104 6,219

Other current assets 44,385 35,871

Assets classified as held for sale 24,440

Cash and cash equivalents 207,766 224,509

Total current assets 873,469 822,258

Total assets 1,424,530 1,315,153

Equity and liabilities

Shareholders’ equity

Share capital 1,354 1,354

Share premium 106,788 106,788

Translation reserve (20,858) (28,397)

Hedging reserve (3,943) 78

Retained earnings 235,529 199,128

Net income 73,930 72,753

Total equity attributable to equity holders of the Company 392,800 351,704

Non-controlling interests 18,395 16,833

Total equity 411,195 368,537

Non-current liabilities

Provisions 26,645 28,363

Deferred tax liabilities 11,021 10,790

Loans and borrowings 318,204 342,056

Derivatives 7,196 843

Total non-current liabilities 363,066 382,052

Current liabilities

Billing in excess of cost 157,161 158,777

Corporate tax liabilities 14,780 7,363

Current portion of loans and borrowings 68,071 5,600

Current portion of provisions 6,367 6,039

Derivatives 3,857 2,686

Accounts payable 139,760 128,940

Accrued expenses 15,871 21,294

Bank overdrafts and short-term borrowings 22,197 26,906

Other current liabilities 199,030 206,959

Liabilities classified as held for sale 23,175

Total current liabilities 650,269 564,564

Total liabilities 1,013,335 946,616

Total equity and liabilities 1,424,530 1,315,153

38 ARCADIS ANNUAL ReVIeW 2010bALANCe

CONSOLIDATED STATEMENT OF COMPrEHENSIvE INCOME FOr THE YEAr ENDED DECEMBEr 31In Eur 1,000

2010 2009

Gross revenue 2,002,807 1,785,773

Materials, services of third parties and subcontractors (628,090) (568,219)

Net revenue 1,374,717 1,217,554

Personnel costs (983,214) (865,548)

Other operational costs (228,631) (207,668)

Depreciation and amortization (27,262) (24,513)

Amortization other intangible assets (6,276) (7,140)

Other income 324 1,734

Total operational costs (1,245,059) (1,103,135)

Operating income 129,658 114,419

Finance income 8,760 6,369

Finance expenses (21,963) (14,902)

Fair value change of derivatives (5,111) 4,896

Net finance expense (18,314) (3,637)

Income from associates 689 15

Profit before income tax 112,033 110,797

Income taxes (34,584) (36,989)

Profit for the period 77,449 73,808

Other comprehensive income

Exchange rate differences for foreign operations 9,597 15,453

Effective portion of changes in fair value of cash flow hedges (4,021) 78

Other comprehensive income, net of income tax 5,576 15,531

Total comprehensive income for the period 83,025 89,339

Net income from operations

Profit for the period attributable to equity holders of the company (net income) 73,930 72,753

Net effect of financial instruments1) - (5,583)

Lovinklaan employee share purchase plan2) 322 2,598

Amortization identifiable intangible assets, net of taxes 4,139 4,534

Net income from operations 78,391 74,302

Profit attributable to:

Equity holders of the company (net income) 73,930 72,753

Non-controlling interest 3,519 1,055

Profit for the period 77,449 73,808

Total comprehensive income attributable to:

Equity holders of the Company 77,448 87,764

Non-controlling interest 5,577 4,692

Total comprehensive income for the period 83,025 92,456

Earnings per share (in euros)

Basic earnings per share 1.12 1.15

Diluted earnings per share 1.08 1.13

Net income from operations per share (in euros)

Basic earnings per share 1.19 1.18

Diluted earnings per share 1.15 1.16

1) Net effect of financial instruments relates to the fair value changes of the swap related to the $350 million loan, which was settled early January 2009. 2) The Lovinklaan employee share purchase plan is controlled by the Lovinklaan Foundation and the company has no influence on this scheme. Accordingly, the company does consider the related

share based payments expenses that need to be recorded under IFRS as a non-operational expense.

39ARCADIS ANNUAL ReVIeW 2010 bALANCe

CONSOLIDATED STATEMENT OF CASH FLOWS FOr THE YEAr ENDED DECEMBEr 31In Eur 1,000

Cash flows from operating activities 2010 2009

Profit for the period 77,449 73,808

Adjustments for:

Depreciation and amortization 33,538 31,653

Taxes on income 34,584 36,989

Net finance expense 18,314 3,637

Income from associates (689) (15)

163,196 146,072

Share-based compensation 7,273 9,341

Sale of activities, net of cost (1,879)

Change in operational derivatives 4,650 51

Settlement of operational derivatives (4,354)

Change in inventories 60 340

Change in receivables (27,607) 73,060

Change in provisions (2,191) 1,903

Change in billing in excess of costs (9,169) (30,220)

Change in current liabilities 7,362 12,088

Dividend received 500 288

Interest received 3,476 3,360

Interest paid (22,065) (16,213)

Corporate tax paid (29,337) (45,699)

Net cash flow from operating activities 91,794 152,492

Cash flows from investing activities

Investments in (in)tangible assets (35,697) (26,307)

Proceeds from sale of (in)tangible assets 2,116 1,883

Investments in consolidated companies (40,187) (80,218)

Proceeds from sale of consolidated companies 1,763

Investments in associates and other investments (1,506) (6,342)

Proceeds from sale of associates and other investments 201 22

Investments in other non-current assets (8,883) (6,191)

Proceeds from (sale) of other non-current assets 6,649 3,111

Net cash flow used in investing activities (77,307) (112,279)

Cash flows from financing activities

Proceeds from exercise of options 5,044 3,364

Proceeds from issue of shares 5,764

Purchase of own shares (18,671)

Settlement of financing derivatives (4,279) (5,615)

New long-term loans and borrowings 25,527 90,962

Repayment of long-term loans and borrowings (10,155) (16,867)

New short-term borrowings 18,214 18,430

Repayment of short-term borrowings (22,191) (9,152)

Dividend paid (32,146) (27,263)

Net cash flow from financing activities (38,657) 59,623

Net change in cash and cash equivalents less bank overdrafts (24,170) 99,836

Exchange rate differences 9,850 1,040

Cash and cash equivalents less bank overdrafts at January 1 212,552 111,676

Cash and cash equivalents less bank overdrafts at December 31 198,232 212,552

40 ARCADIS ANNUAL ReVIeW 2010URbANIZATION

“Having closed the Bayernoil refinery, we recognised the exciting opportunity to create a long‐term, sustainable urban development that would benefit from the striking natural features surrounding the site. ArCADIS is the perfect partner in this project, handling everything from remediation planning to approval management, and helping us to gradually transform an industrial wasteland to an area of urban sophistication and longevity.”

Karl StrummerManaging Director at BAYErNOIL

41ARCADIS ANNUAL ReVIeW 2010 URbANIZATION

Photograph, Copyright Bayernoil

URBANIZATIONCONSeRVING OPeN SPACeSINGOLSTADT, GeRMANy

The natural landscape is a limited resource that is constantly fragmented by new construction; often damaging the habitats of plants and animals and reducing the accessibility of recreational spaces to humans. ARCADIS is always trying to find new ways to sustain increasing urbanization through the remediation and renewal of existing sites and infrastructure.

Increased land consumption is one of the main reasons for species loss in Central Europe as housing and transport-related development continues apace. In Germany, new construction is developing some 130 hectares of land each day—equivalent in size to around 100 football pitches.

The German government intends to reverse this trend by implementing greater recycling of land so that by 2020, new land use will account for just 30 hectares per day.

Bayernoil and the city of Ingolstadt are leading the way by preparing the site of an old oil refinery, decommissioned in 2008, for re-use. With the city growing by around 1,000 inhabitants every year, the 108 hectare site provides a great opportunity to develop a new city quarter, complete with sports and recreational facilities as well as residential and commercial areas. The development will complement the area and protect resources at the same time.

ARCADIS has played an integral role in the challenge to develop the site by providing all project management and planning services for the decommissioning, remediation and construction process, while also directing the marketing and transactional management for the sale of the property.

It has ensured the sustainable development of the site, by managing the recycling of metal from the demolished production facilities and tanks, and reusing more than 10,000 m3 of concrete to prepare the ground for the new stadium of local football team, FC Ingolstadt 04. The Audi Sportpark stadium was opened in July 2010, providing capacity for 15,000 spectators, and represents the first landmark of this large and fast-moving project.

OUR TEAM1. Harrie L.J. Noy, Meng (1951), Dutch nationality Chairman of the Executive Board since 2000

2. Renier Vree (1964), Dutch nationality Chief Financial Officer since 2010

3. Steven b. blake, MSc (1956), U.S. nationality Member of the Executive Board since 2010 CEO ArCADIS U.S., Inc. since 2003

4. Friedrich M.T. Schneider, MA, PhD (1962), German nationality Member of the Executive Board since 2006

5. Tom Haak, MSc (1956), Dutch nationality Corporate Director Human resources since 2006

6. Chuck Leichner (1959), U.S. nationality Global Director Corporate Development since 2011

7. Craig e. eisen, MSc (1951), U.S. nationality Director of Mergers and Acquisitions since 2002

8. bill Dee, bSCe, MSee (1948), U.S. nationality Global Director Water since 2010

9. bob Goldman (1957), U.S. nationality Global Director Environment since 2007

10. yann Leblais (1952), French nationality Global Director Infrastructure since 2009

11. Walter Verbruggen (1963), belgian nationality Global Director Buildings since 2010

12. bartheke Weerstra, LLM (1973), Dutch nationality General Counsel/Company Secretary since 2010

ExECUTIvE BOArDGLOBAL BUSINESS LINE DIrECTOrS

COMPANY SECrETArY

COrPOrATE STAFF DIrECTOrS

1

2

5

6

8

9

10

11

3

12 4

7

42 ARCADIS ANNUAL ReVIeW 2010OUR TeAM

13. Marek Adamek, MSc (1960), Polish nationality CEO ArCADIS Polska Sp.zo.o. since 2004

14. Manoel da Silva, MSc (1953), brazilian nationality CEO ArCADIS Logos Ltda. since 2008

15. Gary Coates, bSc (1951), U.S. nationality COO ArCADIS U.S. since 2010

16. Stephanie Hottenhuis MSc (1965), Dutch nationality CEO ArCADIS Deutschland since 2008

17. Hernán bezamat Cuadra, Civ. eng. (1954), Chilean nationality CEO ArCADIS Geotecnica Consultores SA since 2007

18. Theo Dilissen (1953), belgian nationality CEO ArCADIS Belgium since 2010

19. Peter Vince, MRICS (1958), british nationality CEO ArCADIS UK since 2003

20. Rob Mooren,MSc (1956), Dutch nationality CEO ArCADIS Nederland since 2009

21. Nicolas Simonin, MSc (1962), French nationality CEO ArCADIS France since 2009

22. Lance Josal, FAIA (1955), U.S. nationality CEO rTKL Associates Inc. since 2009

OTHEr MEMBErS SENIOr MANAGEMENT COMMITTEE

13

16

19

21

14

17

20

15

18

22

43ARCADIS ANNUAL ReVIeW 2010 OUR TeAM

WHERE TO FIND US

44 ARCADIS ANNUAL ReVIeW 2010WHeRe TO FIND US

HEAD OFFICE

ARCADIS NVGustav Mahlerplein 99-1031082 MS Amsterdam,The NetherlandsP.O.Box 78951008 AB Amsterdam, The NetherlandsPhone +31 20 2011011Fax +31 20 2011002E-mail: info@arcadis.comInternet: www.arcadis.comCeOHarrie Noy, MEng

PrINCIPAL OFFICESBelgiumARCADIS belgium NVClara Snellingsstraat 272100 Antwerpen, BelgiumPhone +32 3 3608300Fax +32 3 3608301E-mail: info@arcadisbelgium.be.CeOTheo Dilissen

BrazilARCADIS Logos Ltda.Rua Líbero Badaró, 377 - 11º AndarCEP 01009-906, São Paulo, BrazilPhone: +55 11 3117 3171Fax: +55 11 3105 7351E-mail: contata@logoseng.com.brInternet: www.logoseng.com.brCeOManoel Antonio da Silva, MSc

ChileARCADIS Geotécnica SAAv. Eliodoro Yáñez 1893Providencia, Santiago, ChilePhone: +56 2 3816000Fax: +56 2 3816001E-mail: info@arcadis.clInternet: www.arcadis.clCeOHernán Bezamat Cuadra, Civ. Eng., DPA

ChinaARCADIS AsiaZhongrong Plaza, Unit 12031088 South Pu Dong Road,Pudong New Area200122 Shanghai, ChinaPhone: +86 21 587 61 451Fax: +86 21 587 82 738E-mail: info@arcadis.cnInternet: www.arcadis.com/arcadis_asiaexecutive DirectorThomas Kustusch, MSc

Czech republicARCADIS CZ, a.s.Na Strži 1702/65140 62 Praha 4, Czech RepublicPhone + 42 296 330 111Fax + 42 224 236 313E-mail: info@arcadis.czInternet: www.arcadis.cz/enManaging DirectorVáclav Hořejší

FranceARCADIS eSG9 Avenue Réaumur92354 Le Plessis-Robinson Cedex, FrancePhone: +33 1 46 01 24 00Fax: +33 1 46 01 35 80E-mail: direction@arcadis-fr.comInternet: www.arcadis-fr.comCeONicolas Simonin, Ing

GermanyARCADIS Deutschland GmbHEuropaplatz 364293 Darmstadt, GermanyPhone: +49 6151 3880Fax: +49 6151 388999E-mail: info@arcadis.deInternet: www.arcadis.deCeOStephanie Hottenhuis, MSc

ItalyARCADIS SeT S.r.l.Via Piemonte, 3220090 Buccinasco (MI), ItalyPhone: +39 02 4884 1600Fax: +39 02 4884 9056E-mail: info@arcadis.itInternet: www.setsrl.comManaging DirectorLorenz San Nicolo, Bsc

The NetherlandsARCADIS Nederland bVPiet Mondriaanlaan 263812 GV AmersfoortP.O Box 2203800 AE Amersfoort, The NetherlandsPhone: +31 33 4771000Fax: +31 33 4772000E-mail: info@arcadis.nlInternet: www.arcadis.nlCeORob Mooren, MSc

PolandARCADIS Polska Sp. z o.o.ul. Pulawska 18202-670 Warsaw, PolandPhone: +48 22 203 2000Fax: +48 22 203 2001E-mail: arcadis@arcadis.plInternet: www.arcadis.plCeOMarek Adamek, MSc

romaniaARCADIS eurométudes S.A.Calea Grivitei nr. 136Corp B, etaj 2Sector 1 Bucharest. RomaniaPhone: +40 21 31 22699Fax: +40 21 31 22697E-mail: office@arcadis-ro.comManaging DirectorNicolae Micu

United KingdomARCADIS Uk10 Furnival StreetLondon EC4A 1YH, United KingdomPhone: +44 20 72161000Fax: +44 20 72161001E-mail: info@arcadis-uk.comInternet: www.arcadis-uk.comCeOPeter Vince, MRICS

United StatesARCADIS U.S., Inc.630 Plaza DriveSuite 200Highlands RanchColorado 80129, United StatesPhone: +1 720 344 3500Fax: +1 720 344 3535E-mail: arcadisgm@arcadis-us.comInternet: www.arcadis-us.comCeOSteve Blake, PE, PG

rTKLRTkL Associates Inc.901 South Bond StreetBaltimoreMaryland 21231, United StatesPhone: +1 410 537 6000Fax: +1 410 276 2136Internet: www.rtkl.comPresident and CeOLance K. Josal, FAIA

RTkL Uk Ltd.22 Torrington PlaceLondon WC1E 7HP, United KingdomPhone: +44 (0)20 7306 0404E-mail: London-Info@rtkl.comDirectorAlan Morgan

RTkL International Ltd.Suite 2106 Platinum233 Taicang RoadShanghai 200020, ChinaPhone: +86 21 6122 7922E-mail: Shanghai-Info@rtkl.comVice PresidentJay Clark, AIA, LEED AP

Publication:ARCADIS NV, March 2011Writing and editing:CS Blue, London and AmsterdamARCADIS Corporate Communications, Amsterdam, the Netherlands21Sustainable, Amsterdam, the NetherlandsDesign & project management:RTKL Inc., Baltimore, Maryland, United StatesCS Blue, London and AmsterdamTypesetting and DTP:Océ Business Services, Arnhem, The NetherlandsPhotography:David Whitcomb, RTKL, United States Onno Kummer, the Netherlands (Executive Board photo)Taco Anema, the Netherlands Marco Lillo, ChileStuart Key, United KingdomDick Brouwers, the NetherlandsRaf Willems, Belgium Michel Kievits, the NetherlandsAerial Photos, United StatesPascal le Doaré, FranceITER, France Rodrigo Santini, Brazil BAYERNOIL, Germany Lithography and printing:Gravo Offset, Purmerend, The NetherlandsThis Annual Report is printed on:150 grs Revive 50:50, FSC certified

Disclaimer: This Annual Review includes information about the financial and operational developments at ARCADIS during the year 2010. This information was drawn from the ARCADIS NV Annual Report 2010 in summarized form to enhance readability. Should conflicts about its contents or interpretation thereof arise, then the information in the ARCADIS NV Annual Report 2010 prevails.

Cover image: A new dawn for New Orleans. ArCADIS worked with the United States Army Corps of Engineers on developing a Hurricane and Storm Damage risk reduction System to provide 100-year level flood protection for New Orleans. This project is due for completion in 2011, making life safer for the city and its inhabitants.

This Annual Report is printed on FSC-paper by an FSC-certified printer

LeadershipBaLaNCe growthaNNuaL review 2010

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