FlatexDEGIRO : Explanation of shareholders' rights

Annual General Meeting

of flatexDEGIRO AG on 04 June 2024

Explanatory notes on the rights of shareholders pursuant to Sections 122(2), 126(1) and (4), 127, 130a, 131(1), 118a(1) sentence 2 no. 8 in conjunction with Section 245, Section 118(1) sentence 3 to 5 and (2) sentence 2, Section 129(5) of the German Stock Corporation Act ("AktG")

On the basis of Section 118a AktG in conjunction with Article 16(3) of the Articles of Association, the Management Board of flatexDEGIRO AG ("Company") has decided to hold the Annual General Meeting as a virtual Annual General Meeting without the physical presence of the shareholders and their proxies (with the exception of the proxies appointed by the Company) at the location of the Annual General Meeting.

The notice convening the Annual General Meeting already contains information on the rights of the shareholders pursuant to Section 122(2), 126(1) and (4), Section 127, Section 130a, Section 131(1), Section 118a(1) sentence 2 no. 8 in conjunction with Section 245 of the German Stock Corporation Act (AktG), in particular on the deadlines for exercising these rights. The following information serves to further explain these shareholder rights and the special features that arise due to the fact that the Annual General Meeting is held as a virtual Annual General Meeting.

1. Requests for additions to the agenda pursuant to Section 122(2) AktG

Pursuant to Section 122(2) of the German Stock Corporation Act (AktG), shareholders whose shares together amount to one-twentieth of the share capital or the proportionate amount of EUR 500,000.00 (the latter corresponds to 500,000 shares) may request that items be placed on the agenda and published. Each new item must be accompanied by a statement of reasons or a draft resolution. The request must be made in writing (within the meaning of Section 122(2) in conjunction with (1) sentence 1 AktG) to the executive board of the company and must be received by the company at least 30 days prior to the day of the general meeting; the day of the general meeting and the day of receipt shall not be included in this calculation.

The last possible date of receipt is therefore Saturday, 04 May 2024, 24:00 hours (Central European Summer Time - CEST). Requests for supplements received after this time will not be considered.

The request shall be made in writing to the Board of Directors of the Company at the following address:

flatexDEGIRO AG

c/o Better Orange IR & HV AG Haidelweg 48

81241 Munich Germany

In order to avoid delays due to postal delivery times, we request that any requests for additions to the agenda be addressed as aforementioned and additionally submitted in advance by fax to [phone] or by e-mail to [e-mail].

This explanation and the reproduction of the legal and statutory provisions referenced herein, prepared for the convenience of English-speaking readers, is a translation of the German original(s). For purposes of interpretation the respective German version is the sole legally binding version.

Pursuant to Section 122(2) in conjunction with (1) sentence 3 of the German Stock Corporation Act (AktG), the applicants must prove that they have held the shares for at least 90 days prior to the day of receipt of the request and that they will hold the shares until the decision of the board of directors on the request. The following shall apply to the calculation of the shareholding period: The day of receipt of the request shall not be counted. A transfer from a Sunday, a Saturday or a public holiday to a preceding or following working day shall not be considered. Sections 187 to 193 of the Civil Code shall not apply mutatis mutandis. Certain shareholding periods of third parties shall be credited in accordance with Section 70 AktG.

Additions to the agenda to be announced shall be published in the Federal Gazette without undue delay after their receipt by the Company - unless they have already been announced with the convening notice - and shall be forwarded for publication at the latest at the time of such announcement to such media which may be expected to disseminate the information throughout the European Union.

They will also be made available on the Internet at https://www.flatexdegiro.com under "Investor Relations" in the sub-section "Annual General Meeting & Prospectus", there under "Annual General Meeting 2024" and communicated to the shareholders in accordance with Section 125 AktG.

The regulations of the Stock Corporation Act underlying this shareholder right are as follows:

Section 122(1) and (2) (convocation at the request of a minority)

"(1) 1The general meeting shall be convened if shareholders whose shares together amount to one-twentieth of the share capital request the convening in writing, stating the purpose and the reasons; the request shall be addressed to the executive board. 2The articles of association may make the right to demand the convocation of the general meeting subject to another form and to the holding of a smaller proportion of the share capital. 3The applicants shall prove that they have been holders of the shares for at least 90 days prior to the date of receipt of the request and that they hold the shares until the decision of the executive board on the request. 4Section 121(7) shall apply accordingly.

(2) 1In the same manner, shareholders whose shares together amount to one-twentieth of the share capital or the proportionate amount of 500,000 euros may demand that items be placed on the agenda and announced. 2Each new item must be accompanied by a statement of reasons or a draft resolution. 3The request within the meaning of sentence 1 must be received by the company at least 24 days, in the case of listed companies at least 30 days, before the meeting; the day of receipt shall not be counted."

Section 121(7) (General)

"(7) 1In the case of periods and dates calculated back from the meeting, the day of the meeting shall not be counted. 2A transfer from a Sunday, a Saturday or a public holiday to a preceding or following working day shall not be considered. 3Sections 187 to 193 of the Civil Code shall not apply mutatis mutandis. 4In the case of non-listed companies, the articles of association may determine a different calculation of the period."

This explanation and the reproduction of the legal and statutory provisions referenced herein, prepared for the convenience of English-speaking readers, is a translation of the German original(s). For purposes of interpretation the respective German version is the sole legally binding version.

Section 70 (Calculation of the shareholding period)

"1 If the exercise of rights arising from the share is dependent on the shareholder having been the holder of the share for a certain period of time, a claim for transfer of ownership against a credit institution, a financial services institution, an investment firm or an enterprise operating pursuant to Section 53(1) sentence 1 or Section 53b(1) sentence 1 or

1. of the German Banking Act shall be deemed equivalent to ownership. 2The period of ownership of a predecessor in title shall be attributed to the shareholder if he acquired the share free of charge, from his trustee, as universal successor, in the event of the dissolution of a community or in the event of a portfolio transfer pursuant to Section 13 of the Insurance Supervision Act (Versicherungsaufsichtsgesetzes) or Section 14 of the Building Societies Act (Gesetzes über Bausparkassen)."

Section 124 (1) (Publication of requests for amendments; proposals for resolutions)

"(1) 1If the minority has requested in accordance with Section 122(2) that items be placed on the agenda, such items shall be announced either at the time the meeting is convened or otherwise without undue delay after receipt of the request. 2Section 121(4) shall apply mutatis mutandis; in addition, Section 121(4a) shall apply mutatis mutandis to listed companies. 3Notice and delivery shall be made in the same manner as for the convening of the meeting.

Section 125(1) and (2) (Notices to shareholders and to members of the supervisory board)

"(1) 1The board of directors of a company which has not issued registered shares only shall give not less than 21 days' notice of a general meeting as follows:

1. the intermediaries holding shares in the Company,
2. the shareholders and intermediaries who requested the notification, and
3. the associations of shareholders who requested the notification or who exercised voting rights at the last general meeting.

2The day of notification shall not be counted. 3If the agenda is to be amended pursuant to Section 122(2), the amended agenda shall be notified in the case of listed companies. 4In the notification, reference shall be made to the possibility of exercising the voting right by proxy, including by an association of shareholders. 5In the case of listed companies, a proposal for the election of supervisory board members shall be accompanied by information on their membership in other supervisory boards to be established by law; information on their membership in comparable domestic and foreign supervisory bodies of business enterprises shall be enclosed.

(2) 1The same notice shall be given by the board of directors of a company which has issued registered shares to those entered in the register of shareholders at the beginning of the 21st day before the general meeting and to shareholders and intermediaries who have requested the notice and to associations of shareholders who have requested the notice or who have exercised voting rights at the last general meeting."

This explanation and the reproduction of the legal and statutory provisions referenced herein, prepared for the convenience of English-speaking readers, is a translation of the German original(s). For purposes of interpretation the respective German version is the sole legally binding version.

2. Countermotions and election proposals pursuant to Section 126(1) and (4), Section 127 AktG

Shareholders of the Company or their authorised representatives may submit countermotions to proposals of the Executive Board and/or the Supervisory Board on specific items of the agenda as well as election proposals for the election of the auditor of the annual financial statements and the auditor of the consolidated financial statements and for the election of members of the Supervisory Board. Countermotions and election proposals are to be sent exclusively to:

flatexDEGIRO AG

c/o Better Orange IR & HV AG Haidelweg 48

81241 Munich Germany

Fax: [phone]

E-mail: [e-mail]

The Company will publish countermotions to a proposal of the Executive Board and/or the Supervisory Board on a specific agenda item pursuant to Section 126(1) of the German Stock Corporation Act (AktG) and election proposals pursuant to Section 127 of the German Stock Corporation Act (AktG), including the name of the shareholder, any statement of reasons and any statement of the management, on the Internet at https://www.flatexdegiro.com under "Investor Relations" in the sub-section " Annual General Meeting & Prospectus", there under "Annual General Meeting 2024", if they are received by the Company at the latest by 20 May 2024, 24:00 hours (CEST), at the above address, fax number or e-mail address and fulfil the further requirements for an obligation of the Company to make them available pursuant to Sections 126, 127 of the German Stock Corporation Act. Countermotions and election proposals by shareholders addressed otherwise shall be disregarded.

The publication of a counter-motion and/or its grounds, if any, may be waived under the conditions set forth in Section 126(2) AktG. In addition to the cases of Section 126(2) AktG, election proposals by shareholders need not be made available if the proposal does not contain the information pursuant to Section 124(3) sentence 4 AktG and/or, in the case of a proposal for the election of candidates for the Supervisory Board, does not contain the information pursuant to Section 125(1) sentence 5 AktG. However, shareholders' election proposals do not need to be substantiated.

Motions or nominations by shareholders that are to be made available pursuant to Section 126 or Section 127 of the German Stock Corporation Act (AktG) shall be deemed to have been made at the time they are made available pursuant to Section 126(4) sentence 1 of the German Stock Corporation Act (AktG). This shall apply mutatis mutandis to motions on agenda items that are subsequently placed on the agenda by separate announcement on the basis of a supplementary motion by shareholders pursuant to Section 122(2) of the German Stock Corporation Act. If the shareholder who has submitted the motion or election proposal is not duly legitimised and registered for the general meeting, the motion does not have to be dealt with in the virtual general meeting.

Countermotions and election proposals may also be made during the virtual general meeting as part of the speech by way of video communication.

The right of the chairman of the meeting to first put the proposals of the administration to the vote remains unaffected by this (see on the authority of the chairman of the meeting to direct the meeting Article 17(2) of the Articles of Association, which is reproduced below). Should the proposals of the

This explanation and the reproduction of the legal and statutory provisions referenced herein, prepared for the convenience of English-speaking readers, is a translation of the German original(s). For purposes of interpretation the respective German version is the sole legally binding version.

administration be adopted with the necessary majority, the counter-motions or (dissenting) election proposals shall be deemed to have been disposed of.

The provisions of the German Stock Corporation Act on which the above is based, which also determine the conditions under which countermotions and election proposals may not be made available, as well as the provisions of Article 17(2) of the Articles of Association, read as follows:

Section 126 Motions by shareholders

"(1) 1Motions of shareholders, including the name of the shareholder, the statement of grounds and any statement of the management, shall be made available to the entitled persons referred to in Section 125(1) to (3) under the conditions stated therein, if the shareholder has sent a counter-motion against a proposal of the executive board and the supervisory board on a specific item of the agenda, together with the statement of grounds, to the address communicated for this purpose in the notice convening the meeting at least 14 days before the meeting of the company. 2The day of receipt shall not be counted. 3In the case of listed companies, such access shall be made available on the company's website. 4Section 125(3) shall apply mutatis mutandis.

(2) 1A counter-motion and its justification need not be made accessible,

1. insofar as the Executive Board would render itself liable to prosecution by making it accessible,
2. if the counter-motion would lead to a resolution of the general meeting contrary to the law or the articles of association,
3. if the statement of reasons contains obviously false or misleading information in essential points or if it contains insults,
4. if a counter-motion of the shareholder based on the same facts has already been made available to a general meeting of the company pursuant to Section 125,
5. if the same counter-motion of the shareholder with substantially the same grounds has already been made available to at least two general meetings of the company pursuant to Section 125 in the last five years and less than one- twentieth of the share capital represented voted in favour of it at the general meeting,
6. if the shareholder indicates that he will not attend the general meeting and will not be represented, or
7. if the shareholder has not made or caused to be made a counter-motion communicated by him at two general meetings in the last two years.

2The statement of reasons need not be made available if it exceeds 5,000 characters in total.

1. If several shareholders make counter-motions on the same subject matter of the resolution, the executive board may combine the counter-motions and their reasons.
2. 1In the case of the virtual general meeting, motions to be made accessible pursuant to (1) to (3) shall be deemed to have been made at the time of making them

This explanation and the reproduction of the legal and statutory provisions referenced herein, prepared for the convenience of English-speaking readers, is a translation of the German original(s). For purposes of interpretation the respective German version is the sole legally binding version.

accessible. 2The company shall enable the voting right on these motions to be exercised as soon as the shareholders can prove the legal or statutory requirements for exercising the voting right. 3Unless the shareholder who has made the proposal is duly authorised and, if registration is required, has duly registered for the general meeting, the proposal need not be dealt with at the meeting."

Section 127 Election proposals by shareholders

"1Section 126 shall apply mutatis mutandis to the proposal of a shareholder for the election of supervisory board members or auditors. 2The nomination need not be substantiated. 3The executive board need not make the nomination available even if the nomination does not contain the information pursuant to Section 124(3) sentence 4 and Section 125(1) sentence 5. 4 The management board shall provide the proposal of a shareholder for the election of supervisory board members of listed companies to which the Co-Determination Act (Mitbestimmungsgesetz), the Coal and Steel Co-Determination Act (Montan-Mitbestimmungsgesetz) or the Co-Determination Supplementary Act (Mitbestimmungsergänzungsgesetz) applies with the following contents:

1. Reference to the requirements of Section 96(2),
2. Indication of whether the overall fulfilment has been objected to pursuant to Section 96(2) sentence 3 and

3 Indication of how many of the seats on the supervisory board must be occupied at least by women and men respectively in order to comply with the minimum proportion requirement pursuant to Section 96(2) sentence 1".

Section 124(3) sentence 4 (announcement of requests for amendments; proposals for resolutions)

"4The proposal for the election of supervisory board members or auditors shall state their names, occupation and place of residence."

Section 125(1) sentence 5 (Notices to shareholders and to members of the supervisory board)

"5In the case of listed companies, a proposal for the election of supervisory board members shall be accompanied by information on their membership in other statutory supervisory boards; information on their membership in comparable domestic and foreign supervisory bodies of business enterprises shall be enclosed."

Article 17(2) of the Articles of Association of flatexDEGIRO AG (effective with entry in the commercial register as of 19 February 2024)

"(2) The chairman shall chair the meeting and determine the voting procedure. He shall determine the order in which the items on the agenda are discussed and the type and order of voting; in doing so, he may also determine an order of the items to be discussed that deviates from the order in which they were invited."

3. Right to submit comments pursuant to Section 130a(1) to (4) AktG

This explanation and the reproduction of the legal and statutory provisions referenced herein, prepared for the convenience of English-speaking readers, is a translation of the German original(s). For purposes of interpretation the respective German version is the sole legally binding version.

Shareholders duly registered for the virtual Annual General Meeting or their proxies have the right to submit comments on items on the agenda by way of electronic communication prior to the Annual General Meeting (Section 130a(1) to (4) AktG).

Comments must be submitted in text form via the password-protected Online service for the Annual General Meeting on the Company's website at https://www.flatexdegiro.com under "Investor Relations" in the sub-section "Annual General Meeting & Prospectus", there under "Annual General Meeting 2024" no later than five days before the virtual Annual General Meeting, i.e. by 29 May 2024 (24:00 hours (CEST)). We kindly ask to limit the volume of comments to a reasonable amount in order to enable the shareholders to properly review the comments. A length of 10,000 characters should serve as a guideline.

The Company will publish statements that meet the above requirements, are submitted in German or English and are to be made available in accordance with the statutory provisions no later than four days prior to the virtual Annual General Meeting, i.e. by 30 May 2024 (24:00 hours (CEST)), stating the name of the submitting shareholder in the password-protected online service for the Annual General Meeting on the Company's website at https://www.flatexdegiro.com under "Investor Relations" in the sub-section " Annual General Meeting & Prospectus", there under "Annual General Meeting 2024".

The submission of several statements is possible. By submitting a statement, the shareholder agrees that the statement will be made available on the password-protected online service under his or her name.

Any statements by the administration will also be published in the password-protected online service for the Annual General Meeting on the Company's website at https://www.flatexdegiro.com under "Investor Relations" in the sub-section "Annual General Meeting & Prospectus", there under "Annual General Meeting 2024".

The opportunity to submit comments does not constitute an opportunity to submit questions in advance pursuant to Section 131(1a) AktG. Any questions, motions, election proposals and objections to resolutions of the Annual General Meeting contained in comments will not be considered in the virtual Annual General Meeting. These are to be submitted or declared exclusively pursuant to the rights specified under nos. 1, 2, 4, 5 and 6.

The regulations of the Stock Corporation Act underlying this shareholder right are as follows:

Section 130a(1) to (4) (right to comment and speak at virtual general meetings)

"(1) 1In the case of a virtual general meeting, shareholders shall have the right to submit comments on the items on the agenda before the meeting by means of electronic communication using the address communicated for this purpose in the convening notice. 2The right may be restricted to shareholders duly registered for the meeting. 3The scope of the comments may be reasonably limited in the convening notice.

1. Comments shall be submitted no later than five days before the meeting.
2. 1The submitted statements shall be made available to all shareholders no later than four days before the meeting. 2The disclosure may be limited to shareholders duly registered for the meeting. 3In the case of listed companies, such disclosure shall be made on the website of the company; in the case of sentence 2, disclosure may also be made on the website of a third party. 4 Section 126(2) sentence 1 nos. 1, 3 and 6 shall apply accordingly.

This explanation and the reproduction of the legal and statutory provisions referenced herein, prepared for the convenience of English-speaking readers, is a translation of the German original(s). For purposes of interpretation the respective German version is the sole legally binding version.

1. Section 121(7) shall apply to the calculation of the time limits referred to in (2) and (3), first sentence.".

4. Right to speak pursuant to Section 130a(5) and (6) AktG

Shareholders or their proxies who are duly registered and electronically connected to the Annual General Meeting shall have the right to speak at the meeting by way of video communication. Motions and election proposals pursuant to Section 118a(1) sentence 2 no. 3 AktG as well as all types of requests for information pursuant to Section 131 AktG may be part of the speech.

From the beginning of the Annual General Meeting, the password-protected online service for the Annual General Meeting on the Company's website at https://www.flatexdegiro.com under "Investor Relations" in the sub-section " Annual General Meeting & Prospectus", there under "Annual General Meeting 2024", will provide a virtual registration table, through which the shareholders or their proxies can register to speak. Persons who have registered to speak via the virtual table will be activated for their speech in the password-protected online service. The chairman of the meeting will explain the procedure for requesting and speaking at the virtual general meeting in more detail.

Pursuant to Section 130a(6) of the German Stock Corporation Act (AktG), the Company reserves the right to check the functionality of the video communication between the shareholder or proxy and the Company during the meeting and prior to the speech and to reject it if the functionality is not ensured. The minimum technical requirements for a live video feed are therefore an internet-capable device with a camera and microphone that can be accessed from the browser, as well as a stable internet connection.

Recommendations for an optimal functioning of the video communication can be found on the Company's website at https://www.flatexdegiro.com under "Investor Relations" in the sub-section " Annual General Meeting & Prospectus", there under "Annual General Meeting 2024".

The regulations of the Stock Corporation Act underlying this shareholder right are as follows:

Section 130a(5) and (6) (right to comment and speak at virtual general meetings)

"(5) 1Shareholders who are electronically connected to the meeting shall be granted the right to speak at the meeting by means of video communication. 2 The form of video communication offered by the company shall be used for the speeches. 3 Motions and election proposals according to Section 118a(1) sentence 2 no. 3, the request for information according to Section 131(1), follow-up questions according to Section 131(1d) as well as further questions according to Section 131(1e) may be part of the speech. 4Section 131(2) sentence 2 shall apply accordingly.

1. The company may reserve the right in the convening notice to check the functionality of the video communication between the shareholder and the company in the meeting and before the speech and to reject it if the functionality is not ensured."

5. Right to information pursuant to Section 131(1) AktG

Pursuant to Section 131(1) of the German Stock Corporation Act (AktG), duly registered shareholders or their proxies may request information from the Executive Board at the Annual General Meeting on matters concerning the Company, provided that the information is necessary for the proper

This explanation and the reproduction of the legal and statutory provisions referenced herein, prepared for the convenience of English-speaking readers, is a translation of the German original(s). For purposes of interpretation the respective German version is the sole legally binding version.

assessment of an item on the agenda and there is no right to refuse to provide information. The duty to provide information also extends to the legal and business relations of the company with affiliated companies as well as to the situation of the group and the companies included in the consolidated financial statements. In addition, the shareholders or their proxies have the right to ask questions on all answers given by the executive board in the virtual general meeting pursuant to Section 131(1d) AktG.

According to the articles of association of flatexDEGIRO AG, the chairman of the meeting is authorised to reasonably limit the time for shareholders' right to speak as well as their right to ask questions. In particular, the chairman of the meeting may, at the beginning or during the general meeting, set a reasonable time frame for the entire course of the general meeting, for the discussion of the individual items on the agenda and for the individual questions and speeches.

By order of the chairman of the meeting pursuant to Section 131(1f) of the German Stock Corporation Act, all types of information rights pursuant to Section 131 of the German Stock Corporation Act may be exercised in the virtual Annual General Meeting exclusively by way of video communication via the password-protected online service for the Annual General Meeting on the Company's website at https://www.flatexdegiro.com under "Investor Relations" in the sub-section " Annual General Meeting

• Prospectus", there under "Annual General Meeting 2024". It is intended that such a determination will be made by the chairman of the meeting at the virtual general meeting. No other submission of questions by way of electronic or other communication is envisaged either before or during the General Meeting.

In particular, a requirement by the Executive Board pursuant to Section 131(1a) AktG that questions be submitted in advance of the virtual general meeting is expressly not provided for. Accordingly, the right to information can be exercised at the virtual general meeting without the restrictions provided for by law in the event of such a requirement.

The information provided by the executive board shall comply with the principles of conscientious and faithful accountability. The executive board may refrain from answering individual questions for the reasons stated in Section 131(3) AktG, e.g. because the provision of the information is, according to reasonable commercial judgement, likely to cause a not inconsiderable disadvantage to the company or an affiliated company. In this context, a disadvantage is any significant impairment of the company's interest. This may, but need not necessarily, be a quantifiable financial loss. Information may also be refused if it relates to tax valuations or the amount of individual taxes.

There is also a right to withhold information about the difference between the value at which items have been recognised in the annual balance sheet and a higher value of these items (so-called hidden reserves), as well as about the accounting and valuation methods, insofar as the corresponding information in the notes to the annual financial statements is sufficient to provide a true and fair view of the company's net assets, financial position and results of operations; these grounds for withholding information do not apply if the annual general meeting adopts the annual financial statements. These rights to withhold information exist primarily to protect the company from damage by competitors and business partners.

Furthermore, the executive board may refuse to provide information if it would render itself liable to prosecution by providing the information. This right to refuse information serves the unity of the legal system. In such cases, the executive board is not only entitled but obliged to refuse to provide information. A right to refuse information also exists if the information is continuously accessible on the company's website for a period of at least seven days before the beginning and during the general meeting.

This explanation and the reproduction of the legal and statutory provisions referenced herein, prepared for the convenience of English-speaking readers, is a translation of the German original(s). For purposes of interpretation the respective German version is the sole legally binding version.

If information has been given to a shareholder outside the general meeting because of his capacity as a shareholder, it shall be given to any other shareholder at his request in the general meeting, even if it is not necessary for the proper assessment of the item on the agenda. In this case, the executive board may only refuse to provide the information if it would render itself liable to prosecution by providing the information or if the information is continuously accessible on the website of the company for a period of at least seven days before the beginning as well as during the general meeting.

The regulations of the Companies Act underlying the right to information, which also determine under which conditions the provision of information may be waived, are as follows:

Section 131(1), (1d), (1f), (2) to (5) (shareholder's right to information)

"(1) 1Each shareholder shall, upon request, be provided with information at the general meeting by the executive board regarding the affairs of the company to the extent that such information is necessary to permit a proper evaluation of the item on the agenda. 2The duty to provide information shall also extend to the legal and business relations of the company with an affiliated company. 3If a company makes use of the facilitations pursuant to Section 266(1), sentence 3, Section 276 or Section 288 of the German Commercial Code, each shareholder may demand that the annual financial statements be presented to him at the general meeting on the annual financial statements in the form they would have been presented without these facilitations. 4The duty of the management board of a parent company (Section 290(1), (2) of the Commercial Code) to provide information at the general meeting to which the consolidated financial statements and the group management report are submitted also extends to the situation of the group and the companies included in the consolidated financial statements.

(1d) 1Each shareholder who is electronically connected to the meeting shall be granted the right to ask questions at the meeting by means of electronic communication regarding all answers given by the board of directors before and at the meeting. 2 (2) sentence 2 shall also apply to the right to ask questions.

(1f) 1The chairman of the meeting may determine that the right to information under (1), the right to ask questions under( 1d) and the right to ask questions under (1e) may be exercised in the general meeting exclusively by means of video communication.

(2) 1The information shall comply with the principles of conscientious and faithful accountability. 2The articles of association or the rules of procedure pursuant to Section 129 may authorise the chairman of the meeting to impose reasonable time limits on the shareholder's right to ask questions and to speak, and to determine further details in this respect.

(3) 1The executive board may refuse to provide information,

1. insofar as the provision of the information is likely, according to reasonable commercial judgement, to cause a not inconsiderable disadvantage to the company or an affiliated company;
2. insofar as it relates to tax valuations or the amount of individual taxes;
3. on the difference between the value at which items have been stated in the annual balance sheet and a higher value of such items, unless the annual general

meeting adopts the annual financial statements;

This explanation and the reproduction of the legal and statutory provisions referenced herein, prepared for the convenience of English-speaking readers, is a translation of the German original(s). For purposes of interpretation the respective German version is the sole legally binding version.