[47] Comply-or-explain statement regarding the German Corporate Governance Code (DCGK)

In December 2014, the Executive Board and Supervisory Board of KION GROUP AG submitted their comply-or-explain statement for 2014 relating to the recommendations of the German Corporate Governance Code government commission pursuant to section 161 AktG. The comply-or-explain statement has been made permanently available to shareholders on the website of KION GROUP AG at kiongroup.com/comply_statement.