Declaration of Confirmity of the Management Board and the Supervisory Board of Vonovia SE
with the Recommendations of the German Corporate Governance Code pursuant to Section 161 of the German Stock Corporation Act (AktG)
The Management Board and the Supervisory Board of Vonovia SE declare
that since the last Declaration of Conformity was issued on 9 December 2022 the company has complied with, and in future will comply with, all the recommendations of the Government Commission German Corporate Governance Code (Regierungskommission Deutsche Corporate Governance Kodex) as published by the German Federal Ministry of Justice in the official section of the Federal Gazette on 27 June 2022 (the “Code”), with the exception of the recommendation under G.13 sentence 2.
G.13 sentence 2 of the Code specifies that, if post-contractual non-compete clauses apply, the severance payments shall be taken into account in the calculation of any compensation payments. Due to grandfathering rights, this recommendation has not yet been implemented in one case. In case of extensions of existing contracts or conclusions of new contracts this recommendation will be complied with.
Bochum, 12 December 2023
For the Management Board
Chairman of the Management Board
For the Supervisory Board
Clara C. Streit
Chairwoman of the Supervisory Board