100 % FUTURE - ALNO

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statements. Having concluded its review, the Supervisory Board did not have any objections to
the annual financial statements or the consolidated financial statements. In a telephone conference
May 30, 2011 the Supervisory Board expressly approved the annual financial statements
and management report, which was combined with the group management report, for fiscal year
2010, as prepared by the Managing Board. The annual financial statements are thus adopted. The
Supervisory Board also approved the IFRS consolidated financial statements and Group management
report as prepared by the Managing Board for fiscal year 2010.
DEPENDENT COMPANY REPORT
The Managing Board has submitted its report on the company’s relationships with affiliated companies
to the Supervisory Board together with the corresponding report prepared by the auditors.
The auditor issued the following unqualified opinion:
“Based on our audit and assessment in accordance with professional standards, we confirm that
1. The factual statements made in this report are correct,
2. The payments made by the company in connection with the legal transactions described in
this report were not unreasonably high.”
The auditor participated in the Supervisory Board’s discussion of the report on relationships with
affiliated companies and presented the key results of the audit.
The Supervisory Board’s review of the report by the Managing Board and the audit report did not
give any grounds for objection; the Supervisory Board concurred with the results of the audit. The
Supervisory Board did not raise any objections to the Managing Board’s declaration at the end of
the report on ALNO AG’s relationships with affiliated companies according to the final results of its
review.
CORPORATE GOVERNANCE
The Supervisory Board also discussed the further developments in corporate governance in fiscal
year 2010, paying particular attention to the changes made to the Corporate Governance Code
in the amendment of May 26, 2010. In application of the new requirements on Managing Board
member’s fees and the relevant recommendations in the Code, the Supervisory Board deliberated
on the remuneration system for the Managing Board and reviewed whether Board emoluments were
reasonable. No Managing Board members were present during these discussions. Furthermore, the
Supervisory Board determined that, in its opinion, it had a sufficient number of independent members,
as well as one independent member with professional knowledge of accounting and auditing.