German Corporate Governance Code - dcgk

German Corporate Governance code (as amended on 7 February 2017, convenience translation). German Corporate Governance code 7 February 2017. 1. 1 Foreword The German Corporate Governance code (the code ) incorporates significant statutory requirements for the management and supervision ( Governance ) of German listed corporations and contains internationally and nationally accepted standards of good and responsible Governance . The objective of the code is to make the German Corporate Governance system transparent and understandable. It aims to promote confidence in the management and supervision of German listed corporations by international and national investors, customers, employees and the general public. The code highlights the obligation of the Management and Supervisory Boards to ensure the continued existence of the company and its sustainable value creation in line with the principles of the social market economy (the company's best interests). These principles not only require compliance with the law, but also ethically sound and responsible behaviour (the reputable businessperson concept, Leitbild des Ehrbaren Kaufmanns).

German Corporate Governance Code 7 February 2017 5 unless such actions are permitted under applicable law. In making their decisions, the Management Board and Supervisory Board are bound to observe the best interests of the

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