Ahold Delhaize ECONOMIC

Target: Koninklijke Ahold Delhaize N.V. Research date: 27 October 2026 Scope: Commercial, financial, operational and supply-chain connections with Israel and Israeli settlements. Evidence convention: Statements of company policy are attributed to the company; allegations are distinguished from independently established commercial transactions.

Supply Chain & Sourcing Relationships

Direct Israeli-origin sourcing

At the 8 April 2026 annual general meeting of Koninklijke Ahold Delhaize N.V., then-European CEO Claude Sarrailh acknowledged that the company’s retail brands stock some products originating in Israel, according to a transcript published by AH Apartheidvrij.¹

The attributed statement confirms Israeli-origin merchandise in the retail assortment as of April 2026, although it does not identify individual producers, exporters, product categories, purchasing volumes or the purchasing legal entity.¹

The statement occurred after 19 July 2024 and November 2024, providing dated evidence of continued Israeli-origin retail sourcing during 2026.¹

The company’s official AGM archive independently identifies 8 April 2026 as the meeting date and provides meeting materials and a recording.²

Act record - Israeli-origin merchandise

• Acting entity: Ahold Delhaize retail brands, described collectively by Claude Sarrailh; the individual purchasing legal entity is unidentified.¹
• Commercial counterparties: Israeli-origin suppliers or their intermediaries; specific names are unidentified.¹
• Beneficiaries: The retail brands and their suppliers through merchandise sales and purchases; amounts are undisclosed.¹
• Channel: Physical retail assortments, with the relevant statement published on ah-apartheidvrij.nl.¹
• Earliest verified observation: 8 April 2026; earlier commencement date unknown.¹
• Latest verified observation: 8 April 2026; independently verified transactions after that date were not identified.¹
• Status: Confirmed as existing in the April 2026 statement; continuation to 27 October 2026 remains unverified.¹
• Audience and persistence: The underlying statement was made at a shareholder meeting and subsequently published on a stakeholder website; the publication’s initial posting date and complete exposure history are not established.¹

Named agricultural exporters

Mehadrin: no public evidence identified establishing a direct contract, shipment or procurement relationship with Ahold Delhaize in the examined corporate sourcing materials.³

Hadiklaim: no public evidence identified establishing a direct contract, shipment or procurement relationship with an identified Ahold Delhaize company.³

Galilee Export: no public evidence identified establishing a specific Ahold Delhaize procurement relationship.³

Agrexco or successor entities: no public evidence identified establishing a current commercial arrangement with Ahold Delhaize.³

Importer of record

The group’s 2025 annual report describes a supply chain involving more than 15,000 first-tier suppliers, more than 180 sourcing countries and over 80 distribution and home-shopping centres worldwide.³

No public evidence identified naming an Israel-specific wholly owned importer, import joint venture or dedicated importer-of-record company within the reviewed supply-chain disclosure.³

Seasonal sourcing

No public evidence identified establishing recurring December–April procurement cycles, specific seasonal purchasing contracts or quantities for Israeli dates, avocados, citrus, herbs or potatoes.³

Third-party sourcing

Ahold Delhaize’s published supply-chain model includes upstream producers, suppliers and vendors delivering merchandise to group distribution facilities.³

The April 2026 statement confirms Israeli-origin merchandise but does not establish whether particular products are bought directly from Israeli manufacturers or through third-party wholesalers.¹

No public evidence identified establishing a named intermediary responsible for Israeli-origin products in a group retail brand.¹

Integrated retail entities relevant to supply-chain attribution

Albert Heijn: The Dutch supermarket brand was explicitly named in the question submitted to the 2026 AGM concerning Israeli-origin products and products from occupied Palestinian territory.¹

Delhaize: The Belgian supermarket brand is part of Ahold Delhaize’s retail portfolio; no individually identified Israeli supplier contract was established in the reviewed business description.⁴

Ahold Delhaize USA: The company’s US businesses form a major geographical operating segment; no specifically identified Israeli supply arrangement was established in the reviewed consolidated disclosures.³

Mega Image: The Romanian retail business belongs to the group’s European portfolio; no specifically identified Israeli supplier contract was established in the reviewed brand information.⁴

Albert: The Czech supermarket operation belongs to the group’s European portfolio; no specifically identified Israeli supplier contract was established in the reviewed brand information.⁴

Super Indo: The Indonesian business operates as a joint venture; no specifically identified Israeli supplier contract was established in the reviewed business description.⁴

Pingo Doce: The Portuguese business operates as a joint venture; no specifically identified Israeli supplier contract was established in the reviewed business description.⁴

Ahold Delhaize’s Standards of Engagement, version 5.0, effective 1 January 2026, explicitly includes Israel in Appendix I’s list of countries not classified as high-risk under amfori’s country-risk classification. However, the same appendix reserves Ahold Delhaize’s right to apply enhanced due diligence in specific geopolitical contexts, including countries classified as non-high-risk. Israel’s inclusion therefore does not exempt Israeli suppliers from additional scrutiny where Ahold Delhaize identifies an elevated compliance risk. The document does not specify whether Israel has been designated for such additional scrutiny.⁵

Section 2.2 of the Standards establishes a second route to additional supplier verification independently of country classification. Where Ahold Delhaize has reasonable grounds to believe that a supplier presents an increased risk of non-compliance, it may require a valid amfori Business Social Compliance Initiative audit report or an equivalent approved audit report, certificate or assurance. Section 1.2 separately requires own-brand suppliers to disclose relevant production and subcontractor locations and provide information and access requested for compliance monitoring. These provisions establish mechanisms through which Israeli-origin supply chains could receive additional scrutiny without Israel first being reclassified as a high-risk country.⁵

Ahold Delhaize’s 2025 sustainability statements clarify the implementation schedule for version 5.0: new supplier contracts and contract renewals are to incorporate the revised Standards, with suppliers receiving a three-year transition period. The same reporting explains that the Standards apply to own-brand, national-brand and non-resale suppliers, while the company’s social compliance programme prioritizes own-brand production in high-risk countries. Consequently, the published implementation framework does not establish that every Israeli-origin supplier had completed all version 5.0 requirements by April 2026, or that every Israeli-origin production facility would automatically undergo a third-party social compliance audit.⁶

Ahold Delhaize’s official minutes of its 8 April 2026 annual general meeting provide direct corporate confirmation of the shareholder exchange concerning Israeli suppliers. The minutes identify Mr. Brenkman, representing BDS Netherlands, as asking what measures the company had taken to ensure compliance concerning Israeli settlements and whether it would consider temporarily suspending Israeli sourcing pending further review. Claude Sarrailh responded that the company maintained guidelines concerning settlements and occupied territories, followed a policy of working only with suppliers that did not operate in those territories, and had supplier due-diligence procedures addressing sanctions and product provenance. These statements establish that management publicly represented relevant supplier screening and geographic-origin checks as already operating on 8 April 2026. The minutes do not identify those measures as an invocation of the enhanced geopolitical due-diligence provision in version 5.0.⁷

8 April–27 October 2026 - no public evidence identified: searches for post-AGM implementation of enhanced geopolitical due diligence concerning Israeli-origin suppliers, including supplier-specific risk classifications, additional audit instructions, completed amfori BSCI assessments, geographic-origin verification reports, corrective-action records, procurement suspensions and revised sourcing decisions. The reviewed Standards, official AGM minutes, corporate supplier-policy page, 2025 sustainability statements and public stakeholder account contain no disclosed Israel-specific implementation record establishing whether the discretionary enhanced-due-diligence provision was invoked following the shareholder discussion. This evidentiary gap establishes neither that enhanced checks were performed nor that they were omitted.^{5, 6, 7, 8, 1}

Product Origin, Labeling & Regulatory Compliance

Israeli-origin labeling

In the April 2026 shareholder exchange, Claude Sarrailh stated that Israeli-origin products sold by the group’s brands are labeled according to applicable origin regulations.¹

He also described supplier due-diligence procedures intended to ensure that the products do not originate in occupied Palestinian territory.¹

This is a company representation of its procedures, rather than independently verified evidence concerning individual product labels, farm locations or supplier audits.¹

Act record - public labeling-policy statement

• Acting entity: Claude Sarrailh, speaking as a member of the Management Board of Koninklijke Ahold Delhaize N.V.¹
• Recipient: Participants in the company’s 8 April 2026 shareholder meeting and subsequent readers of the stakeholder publication.¹
• Channel: Shareholder-meeting communication reproduced on ah-apartheidvrij.nl.¹
• Earliest and latest dated observation: 8 April 2026.¹
• Status: Historical public statement; whether the described procedures changed subsequently is unconfirmed.¹
• Audience and persistence: Shareholders attending or following the AGM and visitors to the publishing website; audience size and original publication date are not established.¹

Settlement-origin products

The stakeholder question specifically challenged Ahold Delhaize over the possibility that Israeli-origin goods sold by Albert Heijn might originate from Israeli settlements.¹

The source does not identify a verified settlement-produced item, farm, exporter or documented shipment sold by Ahold Delhaize.¹

No public evidence identified in the reviewed materials establishing a specific Ahold Delhaize product originating from an Israeli settlement in the West Bank, East Jerusalem or Golan Heights.¹

Applicable labeling framework

The Court of Justice of the European Union’s judgment of 12 November 2019 in Case C-363/18 addressed origin information for foodstuffs produced in territories occupied by Israel and the additional provenance information required for products from Israeli settlements.⁹

The applicable legal distinction concerns the actual territory and settlement of production, rather than merely the nationality of a seller or exporter.⁹

Corporate labeling policy

The April 2026 attributed response confirms that management publicly described settlement-related sourcing guidelines and product-origin due diligence.¹

The response did not identify a public copy of the internal policy, its implementation date, the audit methodology, its supplier coverage or specific corrective-action records.¹

Regulatory enforcement

No public evidence identified in the reviewed company disclosures establishing an Ahold Delhaize-specific DEFRA finding, EU customs enforcement action, confirmed origin-labeling penalty or formal settlement-origin mislabeling determination.³

Chronology

The relevant European judicial decision dates to 12 November 2019 and is historical regulatory context rather than an Ahold Delhaize-specific enforcement finding.⁹

Ahold Delhaize’s publicly attributed description of its Israeli-origin sourcing and labeling procedures dates to 8 April 2026.¹

Investment, Capital & Financial Exposure

Direct investment and controlled Israeli companies

Ahold Delhaize describes its business through European and United States reporting segments and associated retail entities.¹⁰

The company’s published technology and innovation profile identifies AD/01, established in Bucharest, Romania, in 2024, and participation in the Netherlands-based KickstartAI initiative.¹¹

No public evidence identified in the reviewed corporate portfolio and innovation disclosures establishing a wholly owned or controlled Israeli operating company, factory, data centre, warehouse or Israeli research facility.¹⁰

Acquired-identity review

No public evidence identified establishing an Israeli-incorporated operating company acquired by Ahold Delhaize and subsequently controlled as a subsidiary.¹⁰

Accordingly, no verified Israeli subsidiary acquisition price, ownership percentage, local manufacturing facility, Israeli workforce, Israeli revenue or defence-sector contract can be attributed to the group from the examined records.¹⁰

Venture-capital investments

On 12 August 2025, Ahold Delhaize announced investments through W23 Global in Harmonya and Protex AI.¹²

W23 Global is supported by Ahold Delhaize and four other international grocery retailers, including Tesco and Woolworths Group.¹²

Harmonya separately confirmed W23 Global’s participation in its investor group in a July 2025 announcement.¹³

Protex AI identifies its European headquarters in Dublin, Ireland, and its US headquarters in Boston, Massachusetts.¹⁴

Protex AI’s corporate history describes an Irish founding and early operations in Limerick and Dublin.¹⁵

On 21 July 2026, Ahold Delhaize announced further W23 Global investments in Moment Energy, Verse, Skyfire, Haast and Cresta.¹⁶

The disclosed investments are venture-capital relationships; the examined announcements do not establish that Ahold Delhaize acquired majority control of an Israeli operating company.¹²

Act record - W23 Global investment programme

• Acting entity: W23 Global, supported by Koninklijke Ahold Delhaize N.V. and other participating retailers.¹²
• Recipients: Harmonya and Protex AI in the 2025 announcement; Moment Energy, Verse, Skyfire, Haast and Cresta in the July 2026 announcement.¹⁶
• Channel: Venture-capital investment, announced through newsroom.aholddelhaize.com.¹⁶
• Earliest verified observation: 2025 for the named Harmonya and Protex AI investments.¹²
• Latest verified observation: 21 July 2026 for the subsequent five named investments.¹⁶
• Status: Announced investment relationships; current holding percentages and exit dates are not established by these announcements.¹⁶
• Financial terms: Individual investment amounts, ownership percentages and exit valuations were not disclosed in the reviewed announcements.¹²

Principal shareholders

Ahold Delhaize’s shareholder-information page identifies BlackRock Inc. with a disclosed 5.63% capital interest and 6.91% voting rights, dated 11 August 2023.¹⁷

The same page identifies Amundi Asset Management with a disclosed 3.09% capital interest and 3.03% voting rights, dated 24 September 2026.¹⁷

No shareholder holding at least 10% was identified in the reviewed company-published summary of registered interests.¹⁷

These are dated regulatory disclosure figures and do not necessarily represent the precise ownership position on 27 October 2026.¹⁷

No public evidence identified establishing Israeli beneficial ownership or controlling Israeli capital in Ahold Delhaize from the reviewed shareholder summary.¹⁷

Investment attribution

BlackRock Inc.: Identified shareholder; the reviewed disclosure does not establish a particular Israeli security transaction executed by Ahold Delhaize through BlackRock.¹⁷

Amundi Asset Management: Identified shareholder; the reviewed disclosure does not establish a particular Israeli security transaction executed by Ahold Delhaize through Amundi.¹⁷

Portfolio exposure and state financing

No public evidence identified in the reviewed corporate financial disclosures establishing direct ownership of Israeli sovereign bonds, Israel Bonds, an Israeli defence manufacturer or a named settlement-active company by Ahold Delhaize.³

No public evidence identified establishing Ahold Delhaize as an Israeli sovereign-debt underwriter, arranger, lender, insurer or distributor of Israel Bonds.³

The annual report identifies a €500 million sustainability-linked bond issued by Ahold Delhaize in 2025, which is the group’s own corporate financing instrument.³

Excluded frame v_econ:c5f58bdbc28c - confirmed investment and economic exposure

Ahold Delhaize’s participation in W23 Global and W23 Global’s investment in Harmonya are confirmed by mutually reinforcing corporate and recipient disclosures. On 8 April 2024, Ahold Delhaize announced the establishment of W23 Global with four other grocery retailers, identifying each retailer as an equal funder and partner. On 28 July 2025, Harmonya announced that it had received investment from W23 Global and added the fund to its investor group. Ahold Delhaize independently confirmed the Harmonya investment on 12 August 2025. These records establish an executed venture-capital investment, rather than merely a proposed transaction or expression of investment interest. The attributable relationship is Ahold Delhaize’s participation in W23 Global, followed by W23 Global’s investment in Harmonya; the records do not establish a separately executed direct purchase of Harmonya shares by Ahold Delhaize.^{18, 13, 12}

The economic downstream result confirmed by the recipient is the addition of W23 Global as an investor and the provision of investment support for Harmonya’s product-data technology and international expansion. Harmonya stated that the investment strengthened its ability to expand into international markets, particularly Europe and Asia-Pacific, and reported ongoing commercial activity involving major consumer-packaged-goods manufacturers and retailers. Its July 2025 announcement described coverage exceeding 20 million products and $500 billion in tracked annual sales. Those figures describe Harmonya’s platform coverage and commercial reach; they are not the investment amount, proceeds received, incremental revenue attributable to W23 Global, or a verified financial return to Ahold Delhaize. The recipient’s disclosure confirms investment participation and an intended commercial-development benefit but does not quantify the funding deployed or demonstrate a realized return on that investment.^{13, 12}

The transaction carries forward Harmonya’s Israeli nexus established in Digital. For Economic purposes, the relevant additional fact is that an Ahold Delhaize-backed venture fund supplied investment capital to a company with that documented nexus. Harmonya’s recipient announcement independently identifies offices in New York and Tel Aviv. The evidence therefore supports an indirect financial connection through venture investment, while leaving the destination and geographic allocation of the invested proceeds unverified. No specific amount can be attributed to Israeli payroll, research operations, infrastructure, procurement or taxation from these disclosures.^{13, 12}

W23 Global economic interest and governance

Ahold Delhaize’s 8 April 2024 founding announcement establishes that W23 Global was structured around five equal funding partners, with their CEOs represented on an investment committee. The accompanying disclosure describes a prospective aggregate investment programme of US$125 million over five years and identifies the fund as domiciled in the United Kingdom. A subsequent interview with W23 Global CEO and Chief Investment Officer Ingrid Maes, published by Ahold Delhaize on 27 February 2025, reconfirms that each retailer holds an equal stake and contributes capital equally. Consequently, Ahold Delhaize has a documented economic interest and governance participation at the W23 Global fund level. The US$125 million figure is the collective programme target, not Harmonya’s investment amount or proof that the entire programme commitment had been deployed.^{18, 19}

The governance evidence establishes a distinction between fund-level participation and portfolio-company control. Ahold Delhaize’s founding announcement places the participating retailers’ CEOs on W23 Global’s investment committee. Maes subsequently stated that W23 Global does not acquire controlling stakes in its portfolio businesses. These disclosures establish a stated non-controlling investment strategy and a governance mechanism through which Ahold Delhaize participates in the collective fund. They do not identify the voting rights, board representation, shareholder vetoes, information rights or contractual protections attached to W23 Global’s particular Harmonya investment. No controlling interest in Harmonya can therefore be attributed to Ahold Delhaize from the published records.^{18, 19}

Investment amount, ownership and holding status

The disclosed investment in Harmonya has no verified transaction-specific monetary value or ownership percentage. Neither Harmonya’s 28 July 2025 recipient announcement nor Ahold Delhaize’s 12 August 2025 investor announcement specifies the amount invested, securities acquired, valuation, percentage ownership, liquidation preferences, dilution provisions or investment-specific governance rights. The equal funding relationship among W23 Global’s five retail partners establishes their participation in the fund but does not establish that each retailer owns an equal percentage of Harmonya or that Harmonya received one-fifth of any particular fund commitment. The absence of those terms prevents a defensible valuation of Ahold Delhaize’s indirect Harmonya exposure and does not establish that the economic interest is insignificant.^{18, 13, 12, 19}

28 July 2025–27 October 2026 - no public evidence identified: searches for a subsequent disposal, secondary sale, share redemption, acquisition, portfolio-company exit, realized distribution or termination of W23 Global’s Harmonya investment. The reviewed recipient announcement, Ahold Delhaize’s August 2025 transaction disclosure, its December 2025 venture-portfolio update and its July 2026 investment update contain no verified Harmonya disposal or realized exit proceeds. W23 Global’s participation was established in July 2025, but the precise legal holding and beneficial ownership position at the 27 October 2026 research cutoff cannot be independently confirmed. A verified disposal is absent from the examined public record; continued ownership at the cutoff remains an inference rather than independently established fact.^{13, 12, 20, 21}

Operational Presence & Market Activity

Physical operations

Ahold Delhaize reported 9,551 stores and approximately 384,000 associates for 2025.³

The company’s 2025 reporting segments are Europe and the United States, with additional interests in international joint ventures.¹⁰

The company’s published operating-country descriptions include the Netherlands, Belgium, Luxembourg, the United States, Greece, Serbia, the Czech Republic, Romania, Portugal and Indonesia.⁴

Israel is not identified as a retail operating country in the reviewed corporate portfolio.⁴

No public evidence identified in these disclosures establishing an Israeli Ahold Delhaize store, distribution centre, warehouse, administrative office or Israeli employee population.⁴

Employment and tax

The 2025 annual report reports approximately 384,000 associates across the consolidated group.³

No public evidence identified in the reviewed geographical disclosures establishing an Israel-specific employee count, payroll, tax-registration number or Israeli corporate tax liability.³

Market activity

The April 2026 attributed management statement confirms that some Israeli-origin products are included in the retail assortment.¹

The statement does not quantify Israeli-related procurement, characterize Israel as a strategic growth market or identify a dedicated Israeli distribution operation.¹

No public evidence identified establishing an Israel-specific sales target, retail market share or domestic Israeli customer base for Ahold Delhaize.³

Retail and technology partnerships

Ahold Delhaize identifies AD/01 as a technology studio launched in Bucharest, Romania, in 2024.¹¹

The company identifies KickstartAI as a Netherlands-based initiative in which it has participated since 2019.¹¹

No public evidence identified in the reviewed technology profile establishing an Ahold Delhaize-owned research laboratory or accelerator physically operating in Israel.¹¹

Settlement operations

No public evidence identified in the reviewed geographical business descriptions establishing an Ahold Delhaize-controlled retail store, logistics centre or directly operated service location in an Israeli settlement.⁴

The April 2026 management response describes procedures intended to prevent supplier sourcing from occupied Palestinian territory, but provides no named supplier verification records.¹

Constructive-notice chronology

The documented statement acknowledging Israeli-origin products occurred on 8 April 2026, after both July and November 2024.¹

Whether any particular Israeli-origin product was sourced from occupied territory cannot be established from the supplied statement.¹

Corporate Structure & Foundational Ties

Legal identity and founding history

Koninklijke Ahold Delhaize N.V. is a publicly traded company organized under Dutch law.¹⁰

Ahold Delhaize was formed through the combination of Dutch retailer Ahold and Belgian retailer Delhaize Group in July 2016.²²

The company’s July 2026 anniversary announcement confirms that the two predecessor groups announced their merger in June 2015 and completed their combination in 2016.²³

The merger predates 2020 and is historical corporate-formation evidence, with the resulting company continuing to operate in 2026.²³

The company identifies Zaandam, Netherlands, as the location of its corporate announcements and shareholder meetings.²⁴

No public evidence identified establishing Israeli incorporation, an Israeli legal domicile, an Israeli principal headquarters or an Israeli founding identity.¹⁰

Israeli-Nexus Floor factual checks

Founded in Israel: no public evidence identified; the corporate history traces the company to Dutch and Belgian retailers.²²

Headquarters or principal management in Israel: no public evidence identified; corporate governance disclosures identify a Dutch public company.¹⁰

Israeli tax residency or Preferred Technology Enterprise status: no public evidence identified in the reviewed corporate reporting.³

Israeli controlling ownership: no public evidence identified in the reviewed shareholder registry summary.¹⁷

Acquired Israeli operating identity: no public evidence identified in the reviewed group portfolio disclosures.¹⁰

Governance

Ahold Delhaize maintains a two-tier governance structure consisting of a Management Board and Supervisory Board.¹⁰

The company’s leadership page identifies Wiebe Draijer as Chair of the Supervisory Board and Frans Muller as President and CEO.²⁵

On 13 October 2026, shareholders approved appointments involving Thierry Garnier, Claire Peters, Margaret Versteden-Van Duijn and Edmond Mesrobian.²⁶

The October announcement identifies Thierry Garnier as the designated successor to Frans Muller in 2027.²⁶

Named controlling-principal investigation

Frans Muller - President and CEO; reviewed corporate leadership and appointment records and searched for Israel-related personal investment, settlement and defence ties; no public evidence identified establishing a specific attributable Israeli investment.²⁵

Jolanda Poots-Bijl - CFO; reviewed corporate governance records and searched for Israeli corporate investments; no public evidence identified establishing a specific attributable Israeli investment.²⁷

Wiebe Draijer - Supervisory Board Chair; reviewed appointment disclosures and searched for Israeli investment, defence and settlement relationships; no public evidence identified establishing a specific attributable Israeli investment.²⁸

Thierry Garnier - appointed member of the Management Board and designated future CEO; searched for Israeli investment and settlement relationships; no public evidence identified establishing a specific attributable Israeli investment.²⁶

Claire Peters - appointed CEO of Ahold Delhaize USA and Management Board member; no public evidence identified in the reviewed corporate leadership disclosures establishing an attributable Israeli investment.²⁶

Margaret Versteden-Van Duijn - appointed CEO Europe & Indonesia and Management Board member; no public evidence identified in the reviewed corporate leadership disclosures establishing an attributable Israeli investment.²⁶

Edmond Mesrobian - appointed Supervisory Board member; no public evidence identified in the reviewed corporate appointment disclosure establishing an attributable Israeli investment.²⁹

Neela Montgomery - Supervisory Board member appointed in April 2026; no public evidence identified in the reviewed appointment disclosures establishing an attributable Israeli investment.³⁰

Pauline van der Meer Mohr - Supervisory Board member reappointed in April 2026; no public evidence identified in the reviewed appointment disclosures establishing an attributable Israeli investment.³⁰

Katie Doyle - Supervisory Board Vice-Chair; no public evidence identified in the reviewed leadership disclosure establishing an attributable Israeli investment.²⁵

Robert Jan van de Kraats - Supervisory Board member; no public evidence identified in the reviewed leadership disclosure establishing an attributable Israeli investment.²⁵

Helen Weir - Supervisory Board member; no public evidence identified in the reviewed leadership disclosure establishing an attributable Israeli investment.²⁵

Frank van Zanten - Supervisory Board member; no public evidence identified in the reviewed leadership disclosure establishing an attributable Israeli investment.²⁵

Jan Zijderveld - Supervisory Board member; no public evidence identified in the reviewed leadership disclosure establishing an attributable Israeli investment.²⁵

Per Bank - Supervisory Board member; no public evidence identified in the reviewed leadership disclosure establishing an attributable Israeli investment.²⁵

Former and transitional principals

Claude Sarrailh - former CEO Europe & Indonesia and the executive whose April 2026 AGM response addressed Israeli-origin sourcing; the company announced his departure arrangements in May 2026.³¹

Peter Agnefjäll - former Supervisory Board Chair, succeeded by Wiebe Draijer from October 2025; no public evidence identified in the reviewed succession announcement establishing an attributable Israeli investment.²⁸

Laura Miller - former Supervisory Board member whose departure was announced for April 2026; no public evidence identified in the reviewed succession announcement establishing an attributable Israeli investment.³²

Additional named group entities

Koninklijke Ahold Delhaize N.V. - Dutch publicly listed parent; Israeli-origin retail sourcing acknowledged at a consolidated management level in April 2026.¹

Albert Heijn - Dutch retail brand; named in the April 2026 shareholder question about Israeli-origin products.¹

Delhaize - Belgian retail brand; no public evidence identified in the reviewed brand disclosure establishing its own named Israeli supplier agreement.⁴

Ahold Delhaize USA - US operating segment; no public evidence identified in the reviewed segment disclosure establishing an Israeli controlled subsidiary.¹⁰

bol - online retail brand in the corporate portfolio; no public evidence identified in the reviewed brand information establishing a specific Israeli settlement transaction.⁴

Etos - Dutch retail brand; no public evidence identified in the reviewed brand information establishing a specific Israeli commercial contract.⁴

Gall & Gall - Dutch retail brand; no public evidence identified in the reviewed brand information establishing a specific Israeli commercial contract.⁴

Mega Image - Romanian retail brand; no public evidence identified in the reviewed brand information establishing a specific Israeli commercial contract.⁴

Albert - Czech retail brand; no public evidence identified in the reviewed brand information establishing a specific Israeli commercial contract.⁴

Super Indo - Indonesian joint venture; no public evidence identified in the reviewed brand information establishing a specific Israeli commercial contract.⁴

Pingo Doce - Portuguese joint venture; no public evidence identified in the reviewed brand information establishing a specific Israeli commercial contract.⁴

W23 Global - venture-capital programme involving Ahold Delhaize and other retailers; named investments were announced in 2025 and 2026.¹⁶

Government and structural ties

No public evidence identified in the reviewed governance disclosures establishing an Israeli government ownership stake, Israeli state-appointed director, golden share, Israeli government veto right or charter provision requiring support for Israeli state objectives.¹⁰

Ahold Delhaize’s 2025 Annual Report, published in February 2026, provides retrospective primary confirmation that Wiebe Draijer assumed the Supervisory Board chairmanship on 1 October 2025. The Corporate Governance section (p. 175) explicitly records that shareholders appointed Draijer to the Supervisory Board on 8 August 2025, that the Supervisory Board appointed him as Chair, and that he assumed the chairmanship on 1 October 2025, succeeding Peter Agnefjäll. The board-member profile (p. 165) independently distinguishes his Supervisory Board membership effective 8 August 2025 from his chairmanship effective 1 October 2025. This confirms the existing statement under “Former and transitional principals” identifying Peter Agnefjäll as the former Chair succeeded by Draijer from October 2025, and substantiates the existing “Governance” identification of Draijer as Chair. The 8 August 2025 announcement recorded the completed board-member appointment and prospective chairmanship; the subsequent annual report establishes that the planned chairmanship transition actually occurred.^{33, 28}

Ahold Delhaize’s official announcement dated 13 October 2026 confirms that shareholders appointed Edmond Mesrobian as a member of the Supervisory Board during that day’s Extraordinary General Meeting. The announcement explicitly describes the appointment as completed and includes Supervisory Board Chair Wiebe Draijer’s welcome to Mesrobian. The company’s official leadership page also lists Mesrobian among its Supervisory Board members. This confirms the existing “Governance” statement that shareholders approved appointments involving Mesrobian on 13 October 2026 and substantiates the “Named controlling-principal investigation” entry describing him as an appointed Supervisory Board member. The existing End Note 21, dated 23 June 2026, documents his nomination rather than the completed appointment; the 13 October announcement supplies the appropriate primary evidence for the completed appointment. Neither appointment record independently establishes the presence or absence of Mesrobian’s personal Israeli investments.^{26, 25}

Profit Repatriation & Economic Contribution

Consolidated revenue

Ahold Delhaize reported approximately €92.4 billion in net sales for 2025.³

The company attributed approximately €53.1 billion of those sales to the United States and €39.3 billion to Europe.³

No separate Israel revenue category is provided in these headline geographical figures.³

Israel-specific revenue

The April 2026 management statement establishes the presence of Israeli-origin products in retail assortments but does not disclose procurement expenditure, retail sales revenue, supplier payments or profit arising from those products.¹

No public evidence identified in the reviewed annual-report presentation quantifying revenue attributable to Israel as a consumer market.³

Profit direction

Ahold Delhaize is a Dutch public company whose principal disclosed operating segments are the United States and Europe.¹⁰

The group’s financial reporting does not establish a stream of Israeli operating-company profits remitted to an Israeli parent company.³

No public evidence identified establishing dividends, royalties or subsidiary-profit repatriation from an Ahold Delhaize-controlled Israeli operating business.³

Economic transactions

The April 2026 attributed statement confirms that the group’s retail assortment includes some products originating in Israel.¹

The purchasing amounts, supplier identities and allocation of commercial proceeds between producers, exporters, distributors and retailers are not disclosed in that statement.¹

Consequently, no verified Israel-specific expenditure amount can be derived from the source.¹

Venture-capital financial flows

Ahold Delhaize announced investments through W23 Global in Harmonya and Protex AI in 2025 and five additional named businesses in 2026.¹⁶

The examined announcements do not disclose an Israel-specific investment allocation or identify a controlled Israeli subsidiary generating repatriated profits.¹⁶

Sector significance

Ahold Delhaize describes itself as a major international grocery retailer with substantial operations in Europe and the United States.⁴

No public evidence identified in the reviewed corporate reporting establishing its status as a leading Israeli retailer, major Israeli employer, Israeli infrastructure operator or designated participant in Israeli critical national infrastructure.⁴

Financial-sector activities

No public evidence identified in the reviewed company disclosures establishing Israeli sovereign-bond underwriting, military-finance lending, insurance underwriting of Israeli defence operations or a direct financing facility for a named Israeli settlement enterprise.³

Period of observation

The latest direct, company-attributed evidence of Israeli-origin product sourcing examined for this audit is dated 8 April 2026.¹

The most recent venture-investment announcement examined is dated 21 July 2026.¹⁶

The most recent corporate-governance appointment announcement examined is dated 13 October 2026.²⁶

Economic contribution arising from Harmonya investment

The identifiable financial transmission mechanism is Ahold Delhaize’s capital participation in W23 Global and W23 Global’s executed investment in Harmonya. This establishes venture financing available to the recipient business, which has the Israeli nexus already documented in Digital. The available records do not identify the portion of investment proceeds applied to activities in Israel, the amount of subsequent expenditure attributable to Israeli operations, or any distributions, dividends, realized capital gains or other financial returns flowing from Harmonya through W23 Global to Ahold Delhaize. The documented downstream result is investment-backed support for Harmonya’s business development; realized Israel-specific expenditure and investment profitability remain unquantified.^{18, 13, 12, 19}