Declaration of Conformity 2020 to the German Corporate Governance Code

1. The last declaration of conformity was published in December 2019. Since then the SINGULUS TECHNOLOGIES AG (the “Company”) has adhered to the recommendations of the government commission German Corporate Governance Code with its code as of February 7, 2017, published in the Federal Gazette on April 24, 2017, (“DCGK 2017”) excluding the following exceptions:

a) 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 DCGK 2017), 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 be comprised of at least three Supervisory Board members. For this reason a delegation of tasks is not reasonable, either.

b) 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 DCGK 2017). 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.

2. On December 16, 2019, the government commission German Corporate Governance Code presented an amended version of the German Corporate Governance Code, which came into effect with publication in the official part of the Federal Gazette by the Federal Ministry of Justice and Consumer Protection on March 20, 2020 (“DCGK 2019”). Since coming into effect of the DCGK 2019 the Company adhered and adheres to the recommendations of the DCGK 2019 with the following exceptions:

Pursuant to the recommendations D. 2, D. 3, D. 4, D. 5 DCGK 2019 the Supervisory Board should form professionally qualified committees. The Supervisory Board of the Company will not form any committees as long as the Board is only comprised of three members, since in the case of a three-member Supervisory Board a professional fulfillment of the tasks of the Supervisory Board can take place in the plenum. 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 be comprised of at least three Supervisory Board members. For this reason a delegation of tasks is not reasonable, either.

With the exception of the aforementioned deviation the SINGULUS TECHNOLOGIES AG adheres to the recommendations of the DCGK 2019 and will adhere to them in the future as well.

Kahl am Main, in December 2020

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

Dr. rer. pol. Silke Landwehrmann
Deputy Chairwoman of the Supervisory Board

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

Dr.-Ing. Stefan Rinck
Chief Executive Officer

Dipl.-Oec. Markus Ehret
Executive Board member

Dr. rer. nat. Christian Strahberger
Executive Board member

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