General
Remuneration
Policy2023

1

.............................................................................................................................1
Introduction .......................................................................................................3
Scope ............................................................................................................................................................ 3
Objective ...................................................................................................................................................... 3
Adyen background and Adyen Formula .................................................................................................. 3
Guiding Principles ...................................................................................................................................... 4
Identified Staff ............................................................................................................................................. 4
Comparison with the external landscape ................................................................................................ 4

Remuneration Policy ........................................................................................5
1. Fixed Remuneration ............................................................................................................................... 5
2. Variable Remuneration .......................................................................................................................... 5
3. Risk adjustments .................................................................................................................................... 6
4. Share-based payments ......................................................................................................................... 7
5. Pension and benefits .............................................................................................................................. 7
6. Agreements and termination ................................................................................................................ 7
7. Review process ....................................................................................................................................... 7
8. Governance and review ......................................................................................................................... 8

Annex to our General Remuneration Policy ..................................................9Annex I: Malus and Claw Back .................................................................................................................. 9

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Introduction
Together with Adyen's latest separate remuneration policies for Management
Board and Supervisory Board members and the latest Terms of Reference of theNomination and Remuneration Committee, the General Remuneration Policy
reflects Adyen's global approach to remuneration.
Scope
This remuneration policy applies to all employees of Adyen N.V. and all its affiliated companies which includes staff members
whose professional activities have a material impact on Adyen's risk profile (“Identified Staff”) pursuant to article 94(2) ofDirective 2013/36/EU (“CRD IV”) and Commission Delegated Regulation (EU) 2021/923 and excluding the Management
Board and Supervisory Board members (the "Remuneration Policy").
This Remuneration Policy is intended to ensure Adyen's compliance with provisions of applicable law and relevant
guidance including:•
Chapter 1.7 of the Dutch Financial Supervision Act (Wet op het financieel toezicht, “DFSA”)•
The Dutch Rules on Sound Remuneration Policies (Regeling beheerst beloningsbeleid)•
Articles 74 92 94 and 85 of CRD IV as implemented in the DFSA•
Commission Delegated Regulation (EU) 2021/923 and•
The Guidelines on sound remuneration policies issued by the European Banking Authority (EBA/GL/2021/04).
We only allow for local deviation from the General Remuneration Policy in case employees are covered by a conflicting
CLA or in case of conflicting legislation.

Objective
The objective of our global remuneration policies is to recruit and retain the best talent worldwide by offering competitive
payment structures that take account of our strategy to focus on our merchant’s growth to change the payment landscapeand on having fun.
Since the start of the company we have successfully recruited and retained talent in line with the Adyen Formula (see below).
We want to attract and retain the best talent available in the market which is not restricted to those who have a backgroundin the payments industry.
Our remuneration policies are consistent with and promote sound and effective risk management and have always beenaligned with our strategy and the Adyen Formula to create long-term value for our company and our merchants.

Adyen background and Adyen Formula
Adyen is a global company with different offices around the world that competes in local labor markets. How we work
together globally is guided by the Adyen Formula. These eight principles are not constant – but constantly evolving to keep
pace with our merchants our business and growth of the team.
•We build to benefit all customers (not just one)•
We make good choices to build an ethical business and drive sustainable growth for our customers•
Winning is more important than ego we work as a team – across cultures and time zones•
We include different people to sharpen our ideas•
We don’t hide behind email instead we pick up the phone•
We create our own path and won’t be slowed down by “stewards”•
We launch fast and iterate•
We talk straight without being rude
The Adyen Formula ensures speed which we view as the foundation of our company. We think fast. We work fast. We
launch fast. Our merchants’ demands shape our development and we never stop – that is our job. We’re creating our own
path with a global team driving sustainable growth.

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The way we work is crucial to our success. It guarantees that we continue to make good choices to build an ethicalbusiness and it secures integrity of our company culture. The Adyen Formula is key to how we recruit grow and retain
talent globally. It underscores our foundational spirit and ensures we keep our focus on our merchant’s growth onchanging the payment landscape and on having fun while doing it.
Adherence to the Adyen Formula and the company's strategy as well as delivering on specific areas of focus including forsustainability is taken into account to determine remuneration decisions such as pay increases for employees including
Identified Staff based on the Remuneration Policy.

Guiding Principles
We have defined guiding principles of our Remuneration Policy to ensure that the components of the Remuneration Policy
reflect the objective and are adherent to the Adyen Formula.
Equal pay
We value all perspectives so we see no reason to reward one more than the other – same role same pay. We arecommitted to ensuring equal pay therefore we make sure this is included in our annual equal pay audit to safeguard and to
uphold this standard.
Internal remuneration ratios
On a yearly basis we look at our internal remuneration ratios to make sure Management Board and Supervisory Board
remuneration develops in line with the rest of the organization. For this ratio we deem most relevant the total directcompensation of the CEO compared to the average total direct compensation of all Adyen employees worldwide. On anannual basis we track possible changes to the relevant pay ratio to be able to take account hereof when reviewing
remuneration levels. In our annual remuneration report we report on the internal remuneration ratios.
Level of support in society
We strive to make good choices to build an ethical and sustainable business and drive sustainable growth for ourmerchants articulated in the Adyen Formula. Our Corporate Social Responsibility approach is three-pronged: i) sharing
our knowledge and technology to make a positive impact on society ii) limiting our impact on the environment and iii)
empowering our employees around the world to create their own local initiatives. This is reflected in our employees’ annual
remuneration review amongst others by assessing their adherence to the Adyen Formula and if variable remuneration is inplace delivered performance against relevant non-financial performance objectives.
Our General Remuneration Policy provides us with the opportunity to grant various elements to our employees. Eachelement contributes to the objective of the policy and is aligned with our guiding principles.

Identified Staff
We acknowledge that specific statutory requirements apply to the remuneration of Identified Staff. Excluding members of
the Management Board and the Supervisory Board (who are not within scope of this General Remuneration Policy andinstead are subject to their own remuneration policies). In order to determine its Identified Staff Adyen applies the criteria
set out in the Commission Delegated Regulation (EU) No 604/2014 of March 2 2014 (the "Regulation") and has set
internal definitions in order to identify roles within Adyen which are captured by the requirements.

Comparison with the external landscape
We consider various factors when determining the size of a remuneration package of our employees. One of the factors isthe comparison with the external landscape to ensure that the remuneration offered remains competitive.
We determine the most relevant and meaningful comparison with the external landscape for every individual employee.
This approach might differ across our employees and is dependent amongst others on their level role department andprincipal place of business they are based in. With such a tailored approach we ensure that we define the right reference
market which reflects the relevant market for talent. And although our direct competitors are part of our talent market it is
not necessarily restricted to the payment industry only.

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Remuneration Policy
1. Fixed Remuneration
Base salary levels are set in accordance with the scope of responsibilities and experience of the employee and withreference to the relevant external landscape. The levels are set in such a manner it enables us to attract and retain the righttalent while we remunerate for the professional services rendered.
We review the base salaries on an annual basis whereby we will consider amongst others factors such as the employee’s
performance development within the role our financial and non-financial performance market compensation data and(macro-)economic developments.
Through our Depository Receipt Award plan we have the possibility to pay (directly or through the relevant member of thegroup) the annual increase of the employee’s net fixed salary in Depository Receipts corresponding to an equal number ofordinary shares in the capital of Adyen instead of in cash. Any pay-out in Depository Receipts will be subject to a holding
period of five years.

2. Variable Remuneration
Within Adyen we have various variable remuneration schemes in place. Only selected employees are eligible for variable
remuneration which is typically depending on factors such as but not limited to the employee’s role department andprincipal place of business it is based in. We only award guaranteed variable remuneration such as a sign-on bonus to ouremployees if the award is consistent with the requirements and prohibitions as laid down in the applicable remuneration
regulations.
Irrespective of the character of our variable remuneration scheme we carefully consider the amount of variable
remuneration awards and the applicable performance criteria to ensure our variable remuneration practices are set inaccordance with applicable legislation and the foundation of our General Remuneration Policy.
Award
The amount of our variable remuneration awards is set in accordance with applicable regulatory requirements and will not
exceed the maximum as provided by law. As a consequence, caps on variable remuneration may differ across thecountries we are active in. This is presented in the table below:

The Netherlands(on average)
20%

The Netherlands(maximum)100%

Other EU member states(maximum)100%

Other countries(maximum)200%

Performance criteria
In principle all of our variable remuneration awards are subject to performance against financial and non-financial
performance criteria. The criteria and their weightings are determined at the beginning of the financial year. The selectionof the performance objective is based on our strategy long-term goals and to ensure sustainable outcomes. Consistent
with regulation variable remuneration will for at least 50% be based on non-financial performance criteria.
Financial performance criteria are selected in accordance with our strategy and to drive our long-term value creation. The
financial performance criteria may include but are not limited to:
Sustainable gross margin
Margin increaseNon-financial performance criteria are selected in accordance with our ambition to deliver long-term and sustainablevalue creation for all our stakeholders. The non-financial performance criteria may include but are not limited to:
ESG related objectives aligned with our The Adyen way of building an ethical business guidance
The Adyen formula
Risk and compliance objectives
Operational objectives
Strategic objectives.

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Performance may be based on both individual business or group level and will be measured after the end of theperformance year after which the award amount will be determined. Performance criteria for Control Functions may not bebased on the financial results of the part of the business they oversee in their monitoring role. Performance assessment
will be conducted by the employee’s team lead. In case none of the performance criteria are met we will decrease thevariable remuneration award to zero. The Supervisory Board (in case of Identified Staff) or Management Board (in case of
employees other than Identified Staff) has the discretionary authority to adjust the performance objectives and subsequent
outcomes to reflect exceptional circumstances corporate events or account for significant one-off items.
Identified Staff variable remuneration plan
We may award variable remuneration to our employees classified as Identified Staff. The purpose of variable remuneration
awards, if any, is to incentivize and reward long-term value creation for our company and our stakeholders.
Vesting of any of our awards is set in accordance with applicable regulations. Currently, this means that 60% of the award
vests immediately and 40% is deferred over a period of four years, whereby the deferral vests in 4 equal tranches over thedeferral period. Our awards have a 50/50 split between cash and equity(-linked) instruments.
In any case, after vesting, it is not allowed to sell the equity(-linked) instruments for a year, other than for wage tax obligations
following from the equity award (such as sell-to-cover). The Supervisory Board or Management Board (dependent on typeof employees) is allowed to adjust the vesting and pay-out schedule in order to ensure compliance with applicableregulations.
Staff in control functions
The remuneration of independent control functions is fixed only, to reflect the nature of their responsibilities. Our
Supervisory Board directly oversees the assessment of the performance of senior staff in control functions to ensure theirobjectivity and independence.
Retention bonus
In exceptional circumstances we may offer our employees a retention as part of variable remuneration. Such an award will
be only made in the context of lasting changes to our organization whereby the purpose of the award is solely the retentionof our employees. We will set the event or justification for the retention bonuses (concerns that lead to the risk of
employees leaving, the reasons why the retention of the employee is crucial for us, the consequences if the employee
leaves and the necessity and proportionality of the awarded amount) the award and vesting conditions in accordance withapplicable regulatory requirements. The award of retention bonuses will be subject to our risk adjustment cycle.
Shareholders mandate on maximum variable remuneration
Pending approval of our shareholders at the 2023 AGM we are allowed to award variable remuneration up to 200% of fixed
remuneration for our employees outside the European Economic Area (EEA). The purpose of this mandate is to enable us
to attract and retain the best talent available in a global environment and highly competitive talent market acknowledging
the significant differences in pay levels and structures within the various regions we are active in. We will carefully consider
the use of this mandate and award variable remuneration up to 200% in exceptional circumstances only and inacknowledgement of applicable capital requirements.
Disclosures
The figures on total variable remuneration paid out to Adyen employees which includes Identified Staff and our approachon the shareholders’ mandate on maximum variable remuneration are disclosed in the Remuneration Report.

3. Risk adjustments
Our variable remuneration awards are subject to ex-ante and ex-post risk assessments.
Malus and claw back
The Management Board (or the Supervisory Board if it concerns senior officers in the independent control functions) can
decide to reduce the deferred parts of the individual remuneration of employees awarded in past years or claw backvariable remuneration that has been paid or vested. Application of malus and claw back will be done in accordance with
the information as incorporated in the annex of our General Remuneration Policy.

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4. Share-based payments
We have various types of share-based payments for our employees, including Identified Staff. The purpose of the sharebased payments is to put our employees in a financial ownership-like position where shares are concerned and for them toobtain an economic interest in the pursuit of Adyen’s long term objectives such as sustainable growth, development,
profitability and financial success of Adyen. As such, the share-based payments link to the company's strategy, long-term
interests and sustainability as this part of the remuneration package drives long-term performance, supports retention
and encourages long-term value creation.
In addition to our Depository Receipt Award plan as part of our fixed remuneration, we have a Restricted Stock Units (RSU)
plan for employees. RSUs may be granted to newly hired employees as a sign-on bonus, provided that the award isconsistent with the remuneration regulations (i.e. Adyen has a sound and strong capital base and the sign-on bonus islimited to the first year of employment).
RSUs will vest over a period of four years. The vesting period starts on the grant date. Every year 25% of RSUs vest on theanniversary of the grant date.

5. Pension and benefits
The pensions and other benefits offered to our employees are set in line with typical market practices and local
requirements.
Benefits
We deeply believe in applying the same approach to all employees. To reflect that we provide similar general employment
conditions to all our employees and we offer the same benefits to everyone.
PensionWe have a Collective Defined Contribution with respect to the maximum fiscal pensionable salary in place for all our
employees in the Netherlands. For employees outside the Netherlands we provide pension arrangements in accordancewith local practices and requirements. We do not provide discretionary pension benefits to our employees.

6. Agreements and termination
Severance pay
No severance is paid in case of voluntary resignation of the employee or in any of the other cases mentioned in article
1:125 (1) DFSA, including dismissal of the employee for an urgent reason as laid down in article 7:677 jo. 7:678 of the
Dutch Civil Code, failure by the employee, seriously culpable behavior/negligence.
Severance payments to daily policy makers as determined in the DFSA are capped at 100% of the person’s annual fixed
remuneration. No severance shall be paid to daily policy makers in case of dismissal due to a failure of the institution, incases such as a request for state aid or if substantial sanctions are imposed by the regulator.
Outstanding variable remuneration
Treatment of outstanding variable remuneration awards, if any, will depend on the reason for employment termination of
the employee. The treatment will be established and laid down in writing as an annex to this Policy.

7. Review process
Remuneration packages
Once a year, Adyen’s Management Board, with support from the Nomination and Remuneration Committee whererequired, will review the remuneration packages of the employees (for the avoidance of doubt, excluding the Management
Board itself) and determine whether, and if so, to what extent the base salary and share-based payments need to be
adjusted. Any yearly remuneration adjustments of the base salary and share-based payments of the employees will be inaccordance with this Remuneration Policy.
Remuneration framework
The Supervisory Board is responsible for an annual risk assessment on Adyen’s remuneration framework to identify
potential risks. As part thereof, the Supervisory Board is responsible for an annual assessment of Identified Staff.

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Internal Audit performs an annual review of the remuneration framework including this policy. The outcome of this review
is annually discussed in Q1 with Adyen’s Supervisory Board.

8. Governance and review
Market circumstances and local requirements
The Supervisory Board strives to keep the Remuneration Policy up to date with market circumstances and requirements
set by local laws.
Policy review and changes
The Remuneration Policy is reviewed on a yearly basis by the different Control Functions within Adyen. The yearly review isdiscussed within Adyen’s Nomination and Remuneration Committee. Changes to the Remuneration Policy are proposedby the Nomination and Remuneration Committee and approved by the Supervisory Board. Any material exemptions fromthe Remuneration Policy for individual staff members are not made without the approval from the Supervisory Board.

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Annex to our General
Remuneration Policy
Annex I: Malus and Claw Back
Malus
The Management Board (or the Supervisory Board, in case of senior officers in the independent control functions) can
decide to reduce the deferred parts of the individual remuneration of employees awarded in past years in case of:•evidence of fundamental misconduct, error and integrity issues by the staff member (e.g. breach of code of
conduct, if any, and other internal rules, especially concerning risks);•a staff member having caused a considerable deterioration in the financial performance of Adyen, especially tothe extent this performance was relevant to the award of variable remuneration;•a significant deficiency in the risk management of Adyen; or•
significant changes in the overall financial situation of Adyen.
The Supervisory Board, advised by the Nomination and Remuneration Committee, monitors any malus decisions taken by
the Management Board.
Claw back
The Management Board (or the Supervisory Board if it concerns senior officers in the independent control functions) canclaw back variable remuneration that has been paid or vested. Claw back may be applied to all employees (including
Identified Staff and former employees). The Management Board (and the Supervisory Board) also retains discretions inthis regard.
Claw back period
In general, Adyen may exercise claw back for up to two years from the date of payment or vesting and, in circumstances
involving a person under investigation, for up to four years from the date of payment or vesting (to the extent permitted bylaw and having regard to regulatory requirements).
This does not limit the terms and conditions providing for the repayment or recovery of awards provided to an employee
under any specific variable remuneration plan.

Claw back trigger events
The events that may result in a claw back include:• the employee did not comply with the appropriate standards concerning competence and proper behavior. This
includes situations in which an employee acts fraudulently or dishonestly or in a manner that otherwise adversely
affects Adyen’s reputation or which is otherwise – in the opinion of the Management Board or the Supervisory
Board (as the case may be) – characterized as gross misconduct, as well as other situations in which theemployee is in breach of his/her obligations to Adyen through error, omission or negligence;• variable remuneration was awarded on the basis of incorrect information about achieving the objectives
underlying the variable remuneration, or the circumstances on which the variable remuneration was madedependent;• the employee was responsible or accountable for significant matters with material customer and/or shareholder
impact;• the employee was responsible or accountable for behaviors that have led to a marked deterioration of the
Adyen’s financial position;• the employee was responsible or accountable for situations requiring material restatement of Adyen’s financial
statements;• the actions or omissions of the employee directly led to regulatory intervention (e.g. legal action, administrativefines or restrictions on Adyen's regulatory authorizations); andGeneral Remuneration Policy | Page 9•

any other circumstance relating to a serious risk or misconduct event where Adyen determines that the award of
all or part of the variable remuneration was not justified.

This list is not exhaustive and does not limit the circumstances in which claw back may be applied under the specific termsof a staff member's variable remuneration plan(s) (if applicable).
Claw back approach
At a minimum, Adyen will appropriately reduce unvested variable remuneration (i.e. apply a malus) when a claw backtrigger event occurs. When determining the quantum of any claw back adjustment, consideration will be given to thenature and severity of the event, accountability for the event and the total value of any variable remuneration (cash andinstruments) awarded (or to be awarded) to relevant current or former employees.
Individual accountability
In determining whether employees should be subject to a claw back adjustment on the basis of individual or collective
accountability, relevant factors may be considered, including in relation to any failure of risk management or misconduct,
which may include the following:• culpability for, proximity to or responsibility for oversight of the matter(s);• level of participation in (including failure to participate) and responsibility for the matter(s);• whether the employee was aware or could have been reasonably expected to be aware of the circumstances
related to the event;• actions that were taken or could have been taken to prevent the matter(s) from occurring, including any failures
to internally supervise and oversee employee(s);• the root cause of the matter(s) triggering the review; and• financial, regulatory, reputational or client impacts.
Circumstances leading to application of claw back of all variable remuneration
Adyen will in any case demand full repayment of the variable remuneration by an employee, if the employee has committed
fraud and/or in case of material integrity issues and/or has had close involvement in the award of variable remuneration (i)based on misleading information or (ii) in breach of applicable remuneration regulations.
Discretion not to exercise the claw back in specific cases
Where Adyen has the right to claw back all or part of a (former) employees variable remuneration, there may be occasions
where the Management Board determines exercising a claw back is ultimately not appropriate. For example, the decision
may be made that a claw back will not be exercised (or that the amount of a claw back will be reduced) if:• exercising the claw back is considered unreasonable in view of all relevant circumstances of the case;• the likelihood of successful enforcement of the claw back under applicable law is limited and/or the cost andeffort involved are too onerous;• the matter is subject to or connected with pending legal action;• exercising the claw back may prejudice the interests of Adyen; and• a significant amount of time has lapsed since the relevant event occurred.
If a claw back is exercised, the relevant (former) employee will be required to repay all or part of the relevant variable
remuneration award(s) as determined by the Management Board
Under no circumstances may the application of claw back be offset by an increase of other variable remuneration. The
Supervisory Board, advised by the Nomination and Remuneration Committee, monitors any claw back decisions taken by
the Management Board.

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