Shareholders' Letter

Corporate Governance 103 Principles
103 Group structure and shareholders
105 Capital structure
107 Board of Directors
117 Group Executive Board
122 Remuneration, shareholdings and loans
122 Shareholders’ participation rights
124 Change of control and defensive measures
124 Statutory auditors
126 Information policy
Remuneration report 127 Introduction
127 General principles governing remuneration
128 Decision-making powers
129 Remuneration paid to the Board of Directors
130 Remuneration paid to the Group Executive Board
133 Clause on change of control
133 Additional remuneration
133 Remuneration for former members of the Board of Directors
or Group Executive Board
133 Loans
133 Management transactions