Conflicts of Interest

When taking decisions and performing their duties the Management Board and Supervisory Board may neither pursue personal interests nor confer advantages on other persons or make personal use of business opportunities which are the purview of the company itself. All members of the Management Board must disclose any conflicts of interest to both the Supervisory Board and other members of the Management Boards. Likewise, all members of the Supervisory Board must disclose any conflicts of interest to the Supervisory Board. Furthermore, in its report the Supervisory Board must notify the General Meeting of Shareholders of any conflicts of interest and how they were dealt with. During the year under review no conflicts of interest arose affecting members of either the Management Board or the Supervisory Board.

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