Item 4: In financial year 2017, the Supervisory Board resolved to revise the Management Board members' remuneration system. The main changes, which apply from financial year 2018 onwards, relate inter alia to the inclusion of additional
performance criteria for the both the annual bonus and the long-term incentive (LTI). We raise our concerns over the fact that the revised remuneration system for the Management Board has not been put to shareholder approval at this year's AGM. In line with our guidelines we would in principle recommend opposing the discharge of the Chairman of the Supervisory Board, Wulf Matthias. As the discharge is proposed in a bundled resolution, however, we recommend shareholders to oppose the discharge of the Supervisory Board as a whole.
Item 10: We recommend to oppose the election of Susana Quintana-Plaza to the Supervisory Board due to concerns over aggregate time commitments.