Declaration of Conformity

Declaration of Conformity 2019 to the German Corporate Governance Code

The last declaration of conformity was published in November 2018 on the basis of the German Corporate Governance Code (the “Code”) amended as of February 7, 2017. Since submitting this declaration the SINGULUS TECHNOLOGIES AG (the “Company”) adhered and adheres to the recommendations of the Code in this version subject to the following exceptions:

  1. As long as the Supervisory Board is comprised of three members, there were and will not be committees (cf. Art. 5.3.1, 5.3.2 and 5.3.3 of the Code), since a proper fulfillment of the tasks of the Supervisory Board can only be achieved in a plenary meeting of the three-person Supervisory Board. In this case, committees will neither provide enhancements in efficiency nor an improved handling of complex subject matters nor a more efficient or improved fulfillment of the duties of the Supervisory Board with respect to issues regarding accounting principles, risk management or auditing can be expected from such committees. In addition, corporate law provides that decision-making Supervisory Board committees have to consist of at least three Supervisory Board members. For this reason a delegation of tasks is not reasonable, either.

  2. The Supervisory Board does not set a statutory limit for the time of membership to the Supervisory Board (cf. Art. 5.4.1 Para. 2 of the Code). The Supervisory Board does not deem a limit to be reasonable. The members of the Supervisory Board should exclusively be appointed based on expertise and qualification. The members are to advise and monitor the Executive Board in a competent and efficient manner. The company shall also have at its disposal the expertise of experienced and reliable members of the Supervisory Board. A statutory limit for the time of membership would unduly restrict the flexibility with respect to appointments and the number of potential candidates.

Except for the aforementioned deviations the SINGULUS TECHNOLOGIES AG adheres to the recommendation of the German Corporate Governance Code as amended as of February 7, 2017 and will adhere to them in the future as well.

Kahl am Main, in March 2019

Dr.-Ing. Wolfhard Leichnitz
Chairman of the Supervisory Board

Christine Kreidl
Deputy Chairwoman of the Supervisory Board

Dr. rer. nat. Rolf Blessing
Member of the Supervisory Board

Dr.-Ing. Stefan Rinck
Chief Executive Officer, CEO

Markus Ehret
Chief Financial Officer, CFO

OK

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