German Corporate Governance Code
Declaration of Conformity Pursuant to §161 of the German Stock Corporation Act

The management board and supervisory board of All for One Steeb AG hereby declare that since its publication on 24 April 2017 the recommendations of the German Government Com­mission for the German Corporate Governance Code as amended on 7 February 2017, have been complied with, are currently being complied with, and will continue to be complied with in the future except for the deviations outlined below.

The following points are deviations from the code’s recommendations:

Section 3.8 Suitable Deductible on Concluding a D&O Insurance Policy

The management board and supervisory board believe that the supervisory board performs its duties to the fullest extent and in a highly responsible and motivated manner even without a deductible; therefore the D&O insurance will continue to not include a deductible for the members of the company’s supervisory board.

Section 4.2.3 Severance Pay Cap

The management and supervisory boards believe that a clear perspective regarding compen­sation is an essential requirement for recruiting the best-possible candidates. Therefore, the employment contracts for the members of the management board do not provide for any limi­tation to compensation in cases of premature termination of their management-board duties.

Section 5.4.3 Time Limitation of the Judicial Appointment of Supervisory Board Members

The management and supervisory boards believe that the time limitation of the judicial appoint­ment of supervisory board members until the next annual general meeting may influence the independence of the judicially appointed member and therefore does not seem appropriate. The management board will also only apply for the judicial appointment of a candidate that has been approved by the shareholders’ representatives in the supervisory board and in their opinion is an ideal candidate for the position.

Filderstadt, 22 September 2018
All for One Steeb AG

Supervisory and Management Board


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