8. External audit

The audit of the Company’s financial situation, its financial statements, and the conformity of those statements – and the entries to be recorded in the financial statements in accordance with the Companies Code and the bylaws – are entrusted to one or more auditors appointed by the Shareholders’ Meeting from among the members, either natural or legal persons, of the Belgian Institute of Company Auditors.

The responsibilities and powers of the auditor(s) are set by law.

• The Shareholders’ Meeting sets the number of auditors and their emoluments in accordance with the law. Auditors are also entitled to reimbursement of their travel expenses for auditing the Company’s sites and administrative offices.
• The Shareholders’ Meeting may also appoint one or more alternate auditors. Auditors are appointed for three-year renewable terms, which may not be revoked by the Shareholders’ Meeting other than for good reason.

The Audit mandate of Deloitte, represented by Michel Denayer, was renewed at the Ordinary Shareholders’ Meeting of Tuesday, May 10, 2016, for a new term of three years (Shareholders’ meeting 2019). The Meeting also appointed Deloitte, represented by Corine Magnin, as alternate auditor for three years.

The yearly 2017 audit fees for Solvay SA were set at €1.2 million. They include the audit of the statutory and consolidated accounts of Solvay SA. Additional audit fees for Solvay affiliates in 2017 amount to €5.0 million. Supplementary non-audit fees of €1.8 million were paid in 2017 by Solvay affiliates and consisted of the following:

1. Invoiced by the statutory auditor of the Group:
   • Other assurance missions: €1.1 million,
2. Invoiced by other Deloitte entities:
   • Other assurance missions: €0.1 million,
   • Tax advisory and compliance: €0.35 million,
   • Other advisory missions: €0.25 million.