The report demonstrates how Tony’s Open Chain is working to bring an end to exploitation together with all Mission Allies.
Limited assurance report of the independent auditor
To: the board of directors of Tony's Chocolonely Open Chain B.V.
Assurance report on the selected Tony's Chocolonely's Key Performance Indicators Our conclusion Based on the procedures performed and evidence obtained, nothing has come to our attention that causes us to believe that the selected Tony's Chocolonely's Key Performance Indicators of Tony's Chocolonely Open Chain B.V. over 2022/2023 marked with the symbol ‘ ’ in the Tony’s Open Chain Impact Report 2022/2023 are not prepared in all material respects, in accordance with Tony's Chocolonely's reporting criteria. What we have examined The object of our assurance engagement concerns the selected Tony's Chocolonely's Key Performance Indicators marked with symbol ‘ ’ in the Tony’s Open Chain Impact Report 2022/2023 (hereafter: the TKPIs). The TKPIs examined are as follows: • % of cocoa in Tony’s Open Chain couvertures/liquid chocolate and cocoa powder for our mission allies traceable up to Tony’s Open Chain partner cooperatives; • # of metric tons of beans purchased through Tony’s Open Chain; • # of farmers supplying to Tony’s Open Chain who receive additional premium; • # of partner cooperatives with whom Tony’s Open Chain has committed to a 5-year Memorandum of Understanding; • Amount of premium paid (per metric ton of cocoa) to reach Living Income Reference Price; • # of cocoa growing households in Tony’s Open Chain partner cooperatives who participate in the CLMRS;
NLE00030069.1.1
PricewaterhouseCoopers Accountants N.V., Thomas R. Malthusstraat 5, 1066 JR Amsterdam, P.O. Box 90357, 1006 BJ Amsterdam, the Netherlands T: +31 (0) 88 792 00 20, F: +31 (0) 88 792 96 40, www.pwc.nl ‘PwC’ is the brand under which PricewaterhouseCoopers Accountants N.V. (Chamber of Commerce 34180285), PricewaterhouseCoopers Belastingadviseurs N.V. (Chamber of Commerce 34180284), PricewaterhouseCoopers Advisory N.V. (Chamber of Commerce 34180287), PricewaterhouseCoopers Compliance Services B.V. (Chamber of Commerce 51414406), PricewaterhouseCoopers Pensions, Actuarial & Insurance Services B.V. (Chamber of Commerce 54226368), PricewaterhouseCoopers B.V. (Chamber of Commerce 34180289) and other companies operate and provide services. These services are governed by General Terms and Conditions (‘algemene voorwaarden’), which include provisions regarding our liability. Purchases by these companies are governed by General Terms and Conditions of Purchase (‘algemene inkoopvoorwaarden’). At www.pwc.nl more detailed information on these companies is available, including these General Terms and Conditions and the General Terms and Conditions of Purchase, which have also been filed at the Amsterdam Chamber of Commerce.
• # of participants in CLMRS awareness raising sessions conducted in cocoa communities of Tony’s Open Chain partner cooperatives; • # of child labour cases detected at Tony’s Open Chain partner cooperatives with the CLMRS; • # of cases of child labour closed at Tony’s Open Chain partner cooperatives with the CLMRS; • % of farms in the supply chain GPS mapped and assessed against protected areas; • # of Tony’s Open Chain Mission Allies (Mas) and # of Tony’s Open Chain conversations with Potential Mission Allies (PMAs). We have examined the selected Tony's Chocolonely's Key Performance Indicators in the Tony’s Open Chain Impact Report 2022/2023 of Tony's Chocolonely Open Chain B.V., Amsterdam over 2022/2023. Other information included in the Tony's Open Chain Impact Report 2022/2023 is not in scope of this limited assurance engagement. We were not engaged to report on or conclude on other information presented within the Tony’s Open Chain Impact Report 2022/2023 which is outside our scope. The basis for our conclusion We conducted our examination in accordance with Dutch law, including the Dutch Standard 3000A Assurance engagements, other than audits or reviews of historical financial information (attestation-engagements). This engagement is aimed to provide limited assurance. Our responsibilities under this standard are further described in the section ‘Our responsibilities for the examination’ of our report.
We believe that the assurance information we have obtained is sufficient and appropriate to provide a basis for our conclusion.
Independence and quality control We are independent of Tony's Chocolonely Open Chain B.V. in accordance with the ‘Verordening inzake de onafhankelijkheid van accountants bij assurance opdrachten’ (ViO, Code of Ethics for Professional Accountants, a regulation with respect to independence) and other relevant independence requirements in the Netherlands. Furthermore we have complied with the ‘Verordening gedrags- en beroepsregels accountants’ (VGBA, Code of Ethics for Professional Accountants, a regulation with respect to rules of professional conduct). PwC applies the ‘Nadere voorschriften kwaliteitssystemen’ (NVKS, Regulations for quality systems) and accordingly maintains a comprehensive system of quality control including documented policies and procedures regarding compliance with ethical requirements, professional standards and other applicable legal and regulatory requirements.
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Applicable criteria The indicators need to be read and understood together with the reporting criteria. The reporting criteria used for the preparation of the TKPIs are Tony's Chocolonely reporting criteria. These criteria are included in the section ‘Cocoa-related KPIs’ of the ‘Interesting appendices’ in the Tony’s Open Chain Impact Report 2022/2023. The absence of an established practice on which to draw, to evaluate and measure non-financial information allows for different, but acceptable, measurement techniques and can affect comparability between entities, and over time. Emphasis of matter We draw attention to the disclosure in the sustainability information on the number of child labour cases included in the chapter ‘Child labor & forced labor’, paragraph ‘Child labor prevalence remains under 5%’, which explains that there are inherent circumstances that may cause the Child Labour Monitoring and Remediation System (‘CLMRS’) not to detect and report all cases of child labour. Our conclusion is not modified in respect of this matter. Restriction on use This report has been prepared by PricewaterhouseCoopers Accountants N.V. at the instruction of Tony's Chocolonely Open Chain B.V., for the purpose of providing limited assurance on selected TKPIs and in accordance with the terms of PwC's engagement with Tony's Chocolonely Open Chain B.V. of which any other persons to whom this report is disclosed will be unaware. Therefore, it does not address or reflect the needs, interests or circumstances of anyone other than Tony's Chocolonely Open Chain B.V. The report should not be used for any other purpose and no-one other than Tony's Chocolonely Open Chain B.V. may rely on this report. PwC accepts no responsibility, duty of care or liability whatsoever towards anyone other than Tony's Chocolonely Open Chain B.V. Anyone to whom this report is lawfully disclosed should make their own assessment as to whether this report is adequate for any purpose for which the report may be used. Responsibilities for the TKPIs and the examination thereof Responsibilities of the board of directors The board of directors of Tony's Chocolonely Open Chain B.V. is responsible for the preparation of the TKPIs in accordance with the Tony's Chocolonely's reporting criteria, including the identification of the intended users and the criteria being applicable for the purpose of these users. Furthermore, the board of directors is responsible for such internal control as it determines is necessary to enable the preparation of the TKPIs that are free from material misstatement, whether due to fraud or error.
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Our responsibilities for the examination Our responsibility is to plan and perform our examination in a manner that allows us to obtain sufficient and appropriate evidence to provide a basis for our conclusion. Our conclusion aims to provide limited assurance. The procedures performed in this context consisted primarily of making inquiries with management and or relevant staff of the entity and determining the plausibility of the TKPIs. The level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed. Procedures performed We have exercised professional judgement and have maintained professional scepticism throughout the examination in accordance with the Dutch Standard 3000A, ethical requirements and independence requirements. Our examination consisted, among other things of the following: • Evaluating the appropriateness of the reporting criteria used, their consistent application and related disclosures in the Tony’s Open Chain Impact Report 2022/2023. This includes the reasonableness of estimates made by the board of directors. • Through inquiries, obtaining a general understanding of the control environment, processes and information relevant to the preparation of the TKPIs, but not for the purpose of obtaining assurance evidence about their implementation or testing their operating effectiveness. • Identifying areas of the TKPIs with a higher risk of a material misstatement, whether due to fraud or error. Designing and performing assurance procedures responsive to those risks, and obtaining evidence that is sufficient and appropriate to provide a basis for our conclusion. • Those other procedures consisted amongst others of: o Interviewing management and or relevant staff responsible for Tony's Open Chain. o Interviewing relevant staff responsible for providing the information for, carrying out internal control procedures on, and consolidating the data of the TKPIs. o Obtaining assurance evidence that the TKPIs reconcile to underlying records of the company. o Reviewing, on a limited test basis, relevant internal and external documentation. o Performing an analytical review of the data and trends.
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• Evaluating the presentation of the TKPIs in the Tony’s Open Chain Impact Report 2022/2023. • Evaluating the consistency of the TKPIs with the other information in the Tony’s Open Chain Impact Report 2022/2023, which is not included in the scope of our review.
Amsterdam, 2 February 2024 PricewaterhouseCoopers Accountants N.V.
/PwC _Partner _Signature/ B.A.A. Verhoeven RA
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