1. Declaration of conformity pursuant to section 161 (1) AktG

Section 161 (1) of the German Stock Corporation Act (AktG) requires the executive board and supervisory board of a publicly listed company to issue an annual declaration stating that the company has complied with, and intends to comply with, the recommendations in the prevailing version of the GCGC or – if necessary – stating the recommendations with which it has not complied or does not intend to comply, and the reasons why. 

The Executive Board and Supervisory Board of KION GROUP AG submitted the Company’s previous declaration of conformity on December 12/14, 2022.

Both decision-making bodies again considered the recommendations and suggestions of the GCGC in detail and, on November 27 / December 12, 2023, issued the following declaration of conformity for KION GROUP AG as required by section 161 (1) AktG:

Since issuing the last declaration of conformity in December 2022, KION GROUP AG has complied with, and in the future will comply with, all recommendations of the German Corporate Governance Code in the version dated April 28, 2022 with the following exception:

In deviation from recommendation G.10 sentence 2, according to which an executive board member should be able to access the long-term variable bonus amounts only after a period of four years, the Executive Board remuneration system of KION GROUP AG provides that Executive Board members have access to the long-term variable bonus components after three years. The Company is of the opinion that the consistency of the remuneration system for Executive Board members with the remuneration system for the Company’s executives should be maintained.

KION GROUP AG also complies with the non-mandatory suggestions of the German Corporate Governance Code.

Frankfurt am Main, November 27 / December 12, 2023

For the Executive Board:

Dr. Rob Smith

Christian Harm

For the Supervisory Board:

Hans Peter Ring

The declaration of conformity is permanently available to the public on the KION GROUP AG website. KION GROUP AG’s declarations of conformity for the previous ten years are also permanently available to the public via this link on the KION GROUP AG website.