Authorizations for Capital Raisings and Convertible Bond Issues DAX® and German MDAX® Companies (Based on 2015 Annual Meetings) © 2016 Cleary Gottlieb Steen & Hamilton LLP. All rights reserved. . Preface ® ® This booklet presents a summary overview of authorizations for capital raisings and convertible bond issuances of all DAX and German MDAX companies based on their 2015 annual general meetings. The amount of any authorized capital reflected in this booklet takes into account any issuance of shares out of authorized capital entered into the commercial register prior to December 2015. The amount of any convertible bond authorization and underlying conditional capital reflected in this booklet takes into account the issuance of any convertible bonds based on such authorization prior to December 2015 and the amount of conditional capital underlying such convertible bonds as more fully described in this booklet. All information regarding the free float of the selected companies as of the last index rebalancing date in December 2015 was taken from a website of Deutsche Börse AG (www.dax-indices.com) where such information can be found under “Downloads” → “Composition & Indicators” → “Composition DAX” and “Composition MDAX”. Deutsche Börse AG regularly calculates the free float for index weighting purposes according to the definition set out in Section 2.3 of the “Guide to the Equity Indices of Deutsche Börse” which is also available under www.dax-indices.com (“Downloads” → “Guides & Factsheets”). Inclusion in the DAX® and MDAX® requires, among other things, a minimum free float of 10%. We hope you will find this booklet useful.

We will be pleased to answer any queries you may have in connection with the information presented in this booklet. Frankfurt am Main, February 2016 Dr. Gabriele Apfelbacher (gapfelbacher@cgsh.com) Manuel Metzner (mmetzner@cgsh.com) The authors wish to thank Justus Kortleben for his valuable support in preparing this booklet. © Cleary Gottlieb Steen & Hamilton LLP, 2016. All rights reserved.

Throughout this booklet, “Cleary Gottlieb” refers to Cleary Gottlieb Steen & Hamilton LLP and its affiliated entities in certain jurisdictions, and the term “offices” includes offices of those affiliated entities. This booklet was prepared based on publicly available information from third party sources as a service to clients and other friends of Cleary Gottlieb to provide a compilation of information that may be of interest to them. Cleary Gottlieb does not assume any responsibility for the accuracy or completeness of the information presented in this booklet.

Also, the information presented is general, and should not be considered or relied on as legal advice. . Table of Contents DAX® Companies adidas AG ...................................................................................................1 Allianz SE ...................................................................................................2 BASF SE ....................................................................................................4 Bayer Aktiengesellschaft ............................................................................5 Bayerische Motoren Werke Aktiengesellschaft ..........................................7 Beiersdorf Aktiengesellschaft .....................................................................8 COMMERZBANK Aktiengesellschaft .......................................................10 Continental Aktiengesellschaft .................................................................12 Daimler AG ...............................................................................................13 DEUTSCHE BANK AKTIENGESELLSCHAFT ........................................15 Deutsche Börse Aktiengesellschaft ..........................................................17 Deutsche Lufthansa Aktiengesellschaft ...................................................19 Deutsche Post AG ....................................................................................21 Deutsche Telekom AG .............................................................................23 E.ON SE ...................................................................................................24 Fresenius Medical Care AG & Co. KGaA .................................................25 Fresenius SE & Co. KGaA .......................................................................26 HeidelbergCement AG .............................................................................28 Henkel AG & Co. KGaA ...........................................................................29 Infineon Technologies AG ........................................................................30 K+S Aktiengesellschaft ............................................................................31 Linde Aktiengesellschaft...........................................................................33 MERCK Kommanditgesellschaft auf Aktien .............................................35 Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München ............................................................................................37 RWE Aktiengesellschaft ...........................................................................39 SAP AG ....................................................................................................40 Siemens Aktiengesellschaft .....................................................................41 ThyssenKrupp AG ....................................................................................43 VOLKSWAGEN AKTIENGESELLSCHAFT .............................................45 Vonovia SE ...............................................................................................46 .

German MDAX® Companies Aareal Bank AG ........................................................................................49 Aurubis AG ...............................................................................................51 Axel Springer SE ......................................................................................52 Bilfinger SE ...............................................................................................53 Brenntag AG .............................................................................................55 Covestro AG .............................................................................................57 CTS Eventim AG & Co. KGaA .................................................................58 Deutsche EuroShop AG ...........................................................................59 Deutsche Wohnen AG ..............................................................................61 Deutsche Pfandbriefbank AG ...................................................................63 DMG MORI SEIKI AKTIENGESELLSCHAFT ..........................................65 Dürr Aktiengesellschaft ............................................................................66 ElringKlinger AG .......................................................................................68 Evonik Industries AG ................................................................................69 Fielmann Aktiengesellschaft .....................................................................71 Fraport AG Frankfurt Airport Services Worldwide ....................................72 FUCHS PETROLUB SE ...........................................................................73 GEA Group Aktiengesellschaft .................................................................74 Gerresheimer AG .....................................................................................76 Hannover Rück SE ...................................................................................77 Hella KGaA Hueck & Co. .........................................................................78 HOCHTIEF Aktiengesellschaft .................................................................79 HUGO BOSS AG......................................................................................80 Jungheinrich Aktiengesellschaft ...............................................................81 KION GROUP AG ....................................................................................82 Klöckner & Co SE .....................................................................................84 KRONES Aktiengesellschaft ....................................................................86 KUKA Aktiengesellschaft..........................................................................87 Lanxess Aktiengesellschaft ......................................................................88 LEG Immobilien AG ..................................................................................90 LEONI AG ................................................................................................91 METRO AG ..............................................................................................92 MTU Aero Engines AG .............................................................................93 NORMA Group SE ...................................................................................94 OSRAM Licht AG .....................................................................................96 ProSiebenSat.1 Media AG .......................................................................97 Rheinmetall Aktiengesellschaft ................................................................98 RHÖN-KLINIKUM Aktiengesellschaft.....................................................100 Salzgitter Aktiengesellschaft ..................................................................101 STADA Arzneimittel Aktiengesellschaft..................................................103 STRÖER SE ...........................................................................................104 Südzucker Aktiengesellschaft Mannheim/Ochsenfurt ............................ 105 Symrise AG ............................................................................................106 TAG Immobilien AG ...............................................................................107 Talanx Aktiengesellschaft.......................................................................109 Wacker Chemie AG ................................................................................111 Wincor Nixdorf Aktiengesellschaft ..........................................................112 Zalando SE .............................................................................................114 .

® DAX Companies . Company ISIN WKN adidas AG DE000A1EWWW0 A1EWWW Registered Share Capital EUR 209,216,186 209,216,186 no par value shares 1 EUR notional value per share Free Float as of December 2015 100% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2013/I EUR 50,000,000 July 1, 2018 yes cash Authorized Capital 2013/III EUR 20,000,000 July 1, 2018 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Authorized Capital 2015/I EUR 25,000,000 June 2, 2018 yes, but can be excluded in kind (possible: M&A transactions, debt-equity swap) Comments aggregate amount (45.41%) is below the statutory limit of 50% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of May 8, 2014) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration up to EUR 1,000,000,000 May 7, 2019 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Mandatory Feature Term of Securities Conversion / Strike Price Comments yes Convertible Bonds or Bonds with Warrants Amount of Principal no max. term at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different if mandatory conversion) upon maturity of the convertible bonds (which includes maturity due to termination) the company may deliver shares of another publicly listed company Amount EUR 12,500,000 Comments amount (5.97%) together with other conditional capital outstanding has to be applied towards the statutory limit of 50% of registered share capital 1 . Company Allianz SE DE0008404005 840400 Registered Share Capital ISIN WKN EUR 1,169,920,000 457,000,000 no par value shares EUR 2.56 notional value per share Free Float as of December 2015 99.40% Type of Contribution Authorized Capital Amount Term Subscription Rights Authorized Capital 2014/I EUR 550,000,000 May 6, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Authorized Capital 2014/II EUR 13,720,000 May 6, 2019 yes, but can be excluded Comments aggregate amount (48.18%) is slightly below the statutory limit of 50% of registered share capital; Authorized Capital 2014/I: aggregate amount of share issuances without subscription rights (incl. shares underlying convertible bonds, bonds with warrants or profit participation rights issued without subscription rights) is limited to EUR 233,728,000; Authorized Capital 2014/II: share issuances to company/group employees Authorization to Issue Convertible Bonds and Similar Instruments (of May 7, 2014) Convertible Bonds, Bonds with Warrants or Profit Participation Rights Amount of Principal Term Subscription Rights up to EUR 10,000,000,000 May 6, 2019 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) against contribution in kind: yes, but can be excluded cash in kind (possible: M&A transactions; debt-equity swap) cash Type of Consideration against consideration in kind: yes, but can be excluded cash in kind (possible: M&A transactions; debt-convertible swap) - continued on next page - 2 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature no max. term Amount EUR 250,000,000 Comments amount (21.37%) is below the statutory limit of 50% of registered share capital; bonds issued against consideration in kind cannot be secured by this underlying conditional capital; upon conversion, company will deliver treasury shares or shares issued under authorized capital; the conditional capital is securing bonds issued under the authorization of May 7, 2014 (up to EUR 230,000,000) and under the authorization of May 5, 2010 (EUR 20,000,000) Conversion / Strike Price 3 Comments at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination may be different in case of mandatory conversion) aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights under this authorization and bonds issued without subscription rights under authorization of May 5, 2010 (incl. shares issued without subscription rights under Authorized Capital 2014/I) is limited to EUR 233,728,000 . Company BASF SE DE000BASF111 BASF11 Registered Share Capital ISIN WKN EUR 1,175,652,728.32 918,478,694 no par value shares EUR 1.28 notional value per share Free Float as of December 2015 100% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital (2014) EUR 500,000,000 May 1, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount (42.53%) is below the statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments against contribution in kind: yes, but can be excluded for M&A purposes in kind (possible: M&A transactions; debt-equity swap not possible) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal n/a n/a n/a Amount n/a Comments n/a 4 . Company Bayer Aktiengesellschaft DE000BAY0017 BAY001 Registered Share Capital ISIN WKN EUR 2,116,986,388.48 826,947,808 no par value shares 2.56 EUR notional value per share Free Float as of December 2015 100% Authorized Capital Amount Term Subscription Rights Authorized Capital I (2014) EUR 530,000,000 April 28, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Authorized Capital II (2014) EUR 211,698,560 April 28, 2019 yes, but can be excluded in certain cases ( in particular up to 10% at market) Comments aggregate amount (35.04%) is below the statutory limit of 50% of registered share capital; Authorized Capital I: share issuances against contribution in kind are limited to EUR 423,397,120; aggregate amount of share issuances without subscription rights is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of April 29, 2014) Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Profit-linked Bonds Type of Contribution against contribution in kind: yes, but can be excluded (in particular for M&A purposes and scrip dividend) cash in kind (possible: M&A transactions, debt-equity swap, scrip dividend) cash Amount of Principal Term Subscription Rights Type of Consideration up to EUR 6,000,000,000 April 28, 2019 yes, but can be excluded in certain cases ( in particular up to 10% at market) cash - continued on next page - 5 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature no max. term Amount EUR 211,698,560 Comments amount (10%) is below the statutory limit of 50% of registered share capital Conversion / Strike Price at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) 6 Comments n/a . Company ISIN WKN Bayerische Motoren Werke Aktiengesellschaft DE0005190003 (ordinary shares; DAX) DE0005190037 (preference shares) 519000 (ordinary shares; DAX) 519003 (preference shares) Registered Share Capital EUR 656,804,600 601,995,196 no par value ordinary shares 54,809,404 no par value preference shares EUR 1 notional value per ordinary/preference share Free Float as of December 2015 ordinary shares: 53.30% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2014 EUR 4,450,383 May 14, 2019 no cash Comments amount (0.68%) is below the statutory limit of 50% of registered share capital; authorization is limited to issuances of preference shares to company/group employees Authorization to Issue Convertible Bonds and Similar Instruments Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal n/a n/a n/a Amount n/a Comments n/a 7 . Company Beiersdorf Aktiengesellschaft DE0005200000 520000 Registered Share Capital ISIN WKN EUR 252,000,000 252,000,000 no par value shares EUR 1 notional value per share Free Float as of December 2015 39.32% Authorized Capital Amount Term Subscription Rights Type of Contribution EUR 42,000,000 March 30, 2020 yes, but can be excluded in certain cases cash EUR 25,000,000 March 30, 2020 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Authorized Capital III (2015) EUR 25,000,000 March 30, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments aggregate amount (36.51%) is below the statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights is limited to 20% of registered share capital Authorized Capital I (2015) Authorized Capital II (2015) Authorization to Issue Convertible Bonds and Similar Instruments (of March 31, 2015) Convertible Bonds or Bonds with Warrants against contribution in kind: yes, but can be excluded for M&A purposes in kind (possible: M&A transactions; debt-equity swap not possible) Amount of Principal Term Subscription Rights Type of Consideration up to EUR 1,000,000,000 March 30, 2020 yes, but can be excluded in certain cases (in particular up to 10% at market) cash - continued on next page - 8 . Basic Terms Mandatory Feature Term of Securities yes max. 20 years Comments at least 80% of reference price determined prior to issuance of bonds / during subscription period Conditional Capital underlying Authorization Conversion / Strike Price aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under other authorizations) is limited to 20% of registered share capital Amount EUR 42,000,000 Comments amount (16.67%) is below the statutory limit of 50% of registered share capital 9 . Company ISIN WKN COMMERZBANK Aktiengesellschaft DE000CBK1001 CBK100 Registered Share Capital EUR 1,252,357,634 1,252,357,634 no par value shares EUR 1 notional value per share Free Float as of December 2015 84.40% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2015/I EUR 569,253,470 April 29, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount (45.45%) is below the statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of April 30, 2015) Convertible Bonds, Bonds with Warrants or Profit Participation Rights against contribution in kind: yes, but can be excluded in kind (possible: M&A transactions, debt-equity swap, scrip dividend) Amount of Principal Term Subscription Rights Type of Consideration up to EUR 13,600,000,000 April 29, 2020 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) cash against consideration in kind: yes, but can be excluded in kind (possible: M&A transactions, debt-convertible swap) - continued on next page - 10 . Basic Terms Mandatory Feature Term of Securities yes no max. term Comments at least 50% of reference price determined prior to issuance of bonds / during subscription period (determination can be different in case of mandatory conversion) Conditional Capital underlying Authorization Conversion / Strike Price aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under other authorizations) is limited to 20% of registered share capital; for shares issued to board members/employees limit in total: 5% Amount EUR 569,253,470 Comments amount (45.45%) is below the statutory limit of 50% of registered share capital 11 . Company Continental Aktiengesellschaft DE0005439004 543900 Registered Share Capital ISIN WKN EUR 512,015,316.48 200,005,983 no par value shares EUR 2.56 notional value per share Free Float as of December 2015 54.00% Authorized Capital Amount Term Subscription Rights Type of Contribution n/a n/a n/a n/a n/a Comments n/a Amount of Principal Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a n/a n/a Amount n/a Comments n/a Authorization to Issue Convertible Bonds and Similar Instruments n/a Basic Terms Conditional Capital underlying Authorizations 12 n/a n/a . Company ISIN WKN Daimler AG DE0007100000 710000 Registered Share Capital EUR 3,069,671,971.76 1,069,837,447 no par value shares EUR 2.87 notional value per share Free Float as of December 2015 93.16% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2014 EUR 1,000,000,000 April 8, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount (32.58%) is below the statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights is limited to 10% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of April 1, 2015) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A purposes, debt-equity swap) Amount of Principal Term Subscription Rights Type of Consideration up to EUR 10,000,000,000 March 31, 2020 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Convertible Bonds or Bonds with Warrants against consideration in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A purposes, debt-convertible swap) - continued on next page - 13 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature max. 10 years Amount EUR 500,000,000 Comments amount (16.29%) together with other conditional capital outstanding has to be applied towards the statutory limit of 50% of registered share capital Conversion / Strike Price 14 Comments at least 80% of reference price determined prior to issuance of bonds / during subscription period aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under other authorizations) is limited to 10% of registered share capital . Company DEUTSCHE BANK AKTIENGESELLSCHAFT DE0005140008 514000 Registered Share Capital ISIN WKN EUR 3,530,939,215.36 1,379,273,131 no par value shares EUR 2.56 notional value per share Free Float as of December 2015 100% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2015/I EUR 352,000,000 April 30, 2020 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Authorized Capital 2015/II EUR 1,408,000,000 April 30, 2020 yes, but can be excluded in certain cases cash Comments aggregate amount (49.85%) is below the statutory limit of 50% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments Amount of Principal Term Subscription Rights Type of Consideration Convertible Bonds, Bonds with Warrants or Profit Participation Rights (Authorization I of May 31, 2012) up to EUR 9,000,000,000 April 30, 2017 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Profit Participation Rights (with Warrants or conversion feature), Hybrid Bonds or Bonds with Warrants or Convertible Bonds (Authorization II of May 22, 2014) up to EUR 12,000,000,000 April 30, 2019 yes, but can be excluded in certain cases (in particular up to 10% at market) cash - continued on next page - 15 . Basic Terms Mandatory Feature Term of Securities Conversion / Strike Price Comments Authorization I (2012) yes max. 20 years or indefinite term (for convertible bonds or bonds with Warrants) at least 50% of reference price determined prior to issuance of bonds / during subscription period n/a Authorization II (2014) yes max. 20 years or indefinite term (for convertible bonds or bonds with warrants) at least 50% of reference price determined prior to issuance of bonds / during subscription period profit participation rights and hybrid bonds must be in line with the requirements of European banking legislation for additional tier 1 capital Amount Authorization I (2012): EUR 230,400,000; Authorization II (2014): EUR 256,000,000 Comments aggregate amount (13.78%) is below the statutory limit of 50% of registered share capital Conditional Capital underlying Authorization 16 . Company ISIN WKN Deutsche Börse Aktiengesellschaft DE0005810055 581005 Registered Share Capital EUR 193,000,000 193,000,000 no par value shares EUR 1 notional value per share Free Float as of December 2015 95.36% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital I (2011) EUR 5,200,000 May 11, 2016 against cash contribution: yes, but can be excluded in certain cases against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions; debt-equity swap might be possible) Authorized Capital II (2015) EUR 19,300,000 May 12, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions; debt-equity swap might be possible) Authorized Capital III (2015) EUR 38,600,000 May 12, 2020 yes Authorized Capital IV (2012) EUR 6,000,000 May 15, 2017 against cash contribution: yes, but can be excluded in certain cases Comments aggregate amount (35.80%) is below the statutory limit of 50% of registered share capital; Authorized Capital IV: share issuances without subscription rights to company/group employees, management, and executive board members are limited to 900,000 shares per financial year cash against contribution in kind: yes, but can be excluded cash in kind - continued on next page - 17 . Authorization to Issue Convertible Bonds and Similar Instruments (of May 15, 2014) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration up to EUR 2,500,000,000 May 14, 2019 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Mandatory Feature Term of Securities Conversion / Strike Price Comments yes Convertible Bonds or Bonds with Warrants Amount of Principal no max. term at least 80% of reference price determined prior to issuance of bonds / during subscription period aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under any other authorization) is limited to 20% of registered share capital Amount EUR 19,300,000 Comments amount (10.00%) is below the statutory limit of 50% of registered share capital 18 . Company Deutsche Lufthansa Aktiengesellschaft DE0008232125 823212 Registered Share Capital ISIN WKN EUR 1,189,219,200 464,538,750 no par value shares 2.56 EUR notional value per share Free Float as of December 2015 100% Authorized Capital Amount Term Subscription Rights Authorized Capital A (2015) EUR 561,160,092 April 28, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Authorized Capital B (2014) EUR 20,132,800 April 28, 2019 no Comments aggregate amount (48,88%) is below the statutory limit of 50% of registered share capital; Authorized Capital A: aggregate amount of share issuances without subscription rights (incl. shares underlying convertible bonds or bonds with warrants issued without subscription rights under authorization below) is limited to 20% of registered share capital; Authorized Capital B: limited to issuances of shares to company/group employees; special rules apply in respect of certain ownership thresholds under the Act to Safeguard Evidence of Ownership and Control of Airlines (LuftNaSiG) Authorization to Issue Convertible Bonds and Similar Instruments (of May 3, 2011) Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Profit-linked Bonds Amount of Principal Term May 2, 2016 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) cash in kind (possible: M&A transactions, debt-equity swap, scrip dividend) cash Subscription Rights up to EUR 1,500,000,000 Type of Contribution against contribution in kind: yes, but can be excluded (in particular for M&A purposes and scrip dividend) Type of Consideration against consideration in kind: yes, but can be excluded for M&A purposes cash in kind (possible: M&A transactions; debt-convertible swap not possible) - continued on next page - 19 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature no max. term Conversion / Strike Price Comments at least 80% of reference price determined prior to issuance of bonds / during subscription period n/a Amount EUR 234,464,035.80 Comments amount (19.72%) together with other conditional capital outstanding has to be applied towards the statutory limit of 50% of registered share capital; bonds issued against consideration in kind cannot be secured by underlying conditional capital; upon conversion, company will deliver treasury shares 20 . Company Deutsche Post AG DE0005552004 555200 Registered Share Capital ISIN WKN EUR 1,212,753,687 1,212,753,687 no par value shares EUR 1 notional value per share Free Float as of December 2015 79.04% Authorized Capital Amount Term Subscription Rights Authorized Capital 2013 EUR 236,267,019 May 28, 2018 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments amount (19.48%) is below the statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights (incl. shares underlying convertible bonds or bonds with warrants issued without subscription rights under authorization below) is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of May 29, 2013) Convertible Bonds, Bonds with Warrants, Profit-linked Bonds or Profit Participation Rights Amount of Principal Term Subscription Rights up to EUR 1,500,000,000 May 28, 2018 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) Type of Contribution against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions, debt-equity swap) Type of Consideration against consideration in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions, debt-convertible swap) - continued on next page – 21 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature no max. term Amount EUR 75,000,000 Comments amount (6.19%) together with other conditional capital outstanding has to be applied towards the statutory limit of 50% of registered share capital Conversion / Strike Price at least 50% of reference price determined prior to issuance of bonds / during subscription period 22 Comments aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under Authorized Capital 2013) is limited to 20% of registered share capital . Company ISIN WKN Deutsche Telekom AG DE0005557508 555750 Registered Share Capital EUR 11,793,028,787.20 4,606,651,870 no par value shares EUR 2.56 notional value per share Free Float as of December 2015 68.79% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2013 EUR 1,777,979,476.48 May 15, 2018 against cash contribution: yes, but can be excluded in certain cases cash Comments amount (15.08%) is below the statutory limit of 50% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of May 15, 2014) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions, debt-equity swap) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration up to EUR 6,500,000,000 May 14, 2019 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Mandatory Feature Term of Securities Conversion / Strike Price Comments yes Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Profit-linked Bonds Amount of Principal no max. term at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under Authorized Capital 2013) is limited to 20% of registered share capital Amount EUR 1,100,000,000 Comments amount (9.38%) is below the statutory limit of 50% of registered share capital 23 . Company E.ON SE DE000ENAG999 ENAG99 Registered Share Capital ISIN WKN EUR 2,001,000,000 2,001,000,000 no par value shares EUR 1 notional value per share Free Float as of December 2015 97.57% Type of Contribution Authorized Capital Amount Term Subscription Rights Authorized Capital 2012 EUR 460,000,000 May 2, 2017 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments amount (22.99%) is below the statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights (incl. those underlying convertible bonds or bonds with warrants issued without subscription rights under authorization below) is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of May 3, 2012) against contribution in kind: yes, but can be excluded cash in kind (possible: M&A transactions; debt-equity swap might be possible) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration up to EUR 5,000,000,000 May 2, 2017 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Mandatory Feature Term of Securities Conversion / Strike Price Comments yes Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Profit-linked Bonds Amount of Principal no max. term at least 80% of reference price determined prior to issuance of bonds aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under Authorized Capital 2012) is limited to 20% of registered share capital Amount EUR 175,000,000 Comments amount (8.75%) is below the statutory limit of 50% of registered share capital 24 .

Company Fresenius Medical Care AG & Co. KGaA DE0005785802 (ordinary shares; DAX) 578580 (ordinary shares; DAX) Registered Share Capital ISIN WKN EUR 311,104,251 311,104,251 no par value ordinary shares EUR 1 notional value per ordinary share Free Float as of December 2015 67.37% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2015/I EUR 35,000,000 May 18, 2020 yes Authorized Capital 2015/II EUR 25,000,000 May 18, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments aggregate amount (19.29%) is below the statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments cash against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions; debt-equity swap might be possible) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal n/a n/a n/a Amount n/a Comments n/a 25 . Company Fresenius SE & Co. KGaA DE0005785604 (ordinary shares) 578560 (ordinary shares) Registered Share Capital ISIN EUR 541,532,600 541,532,600 no par value ordinary shares EUR 1 notional value per ordinary share Free Float as of December 2015 74.92% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital I (2014) EUR 120,960,000 May 15, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments amount (22.38%) is below the statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of May 16, 2014) Convertible Bonds or Bonds with Warrants WKN against contribution in kind: yes, but can be excluded for M&A purposes cash in kind (possible: M&A transactions; debt-equity swap not possible) Amount of Principal Term Subscription Rights Type of Consideration up to 2,500,000,000 May 15, 2019 yes, but can be excluded in certain cases (in particular up to 10% at market) cash - continued on next page - 26 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature no max. term Amount EUR 48,971,202 (Conditional Capital III) Comments amount (9.04%) together with other conditional capital outstanding has to be applied towards the statutory limit of 50% of registered share capital Conversion / Strike Price at least 80% of reference price determined prior to issuance of bonds 27 Comments aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under authorized capital above) is limited to 20% of registered share capital . Company HeidelbergCement AG DE0006047004 604700 Registered Share Capital ISIN WKN EUR 563,749,431 187,916,477 no par value shares EUR 3 notional value per share Free Float as of December 2015 74.09% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital I (2015) EUR 225,000,000 May 6, 2020 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Authorized Capital II (2015) EUR 56,374,941 May 6, 2020 yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions; debt-equity swap might be possible) Comments aggregate amount (49.91%) is slightly below the statutory limit of 50% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of May 8, 2013) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration up to EUR 3,000,000,000 May 7, 2018 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Mandatory Feature Term of Securities Conversion / Strike Price Comments yes Convertible Bonds, Bonds with Warrants, Profit Participations Rights or Profit-linked Bonds Amount of Principal no max. term 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) n/a Amount EUR 168,000,000 Comments amount (29.80%) is below the statutory limit of 50% of registered share capital 28 . Company ISIN WKN Henkel AG & Co. KGaA DE0006048408 (ordinary shares) DE0006048432 (preference shares; DAX) 604840 (ordinary shares) 604843 (preference shares; DAX) Registered Share Capital EUR 437,958,750 259,795,875 no par value ordinary shares 178,162,875 no par value preference shares EUR 1 notional value per ordinary/preference share Free Float as of December 2015 preference shares: 97.93% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2015 EUR 43,795,875 April 12, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount (10.00%) is below the statutory limit of 50% of registered share capital; authorization is limited to issuances of preference shares; share issuances against contribution in kind are limited to 10% of the registered share capital Authorization to Issue Convertible Bonds and Similar Instruments against contribution in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible M&A transactions, debt-equity swap) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal n/a n/a n/a Amount n/a Comments n/a 29 . Company Infineon Technologies AG DE0006231004 623100 Registered Share Capital ISIN WKN EUR 2,258,542,962 1,129,271,481 no par value shares EUR 2 notional value per share Free Float as of December 2015 99.47% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2015/I EUR 676,000,000 February 11, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount (29.93%) is below the statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of February 13, 2014) against contribution in kind: yes, but can be excluded in kind (possible: M&A transactions; debt-equity swap might be possible) Amount of Principal Term Subscription Rights Type of Consideration Convertible Bonds or Bonds with Warrants up to EUR 2,000,000,000 February 12, 2019 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Basic Terms Mandatory Feature Term of Securities Conversion / Strike Price Comments yes no max. term at least 90% of reference price determined prior to issuance of bonds / during subscription period n/a Amount EUR 260,000,000 Comments amount (11.51%) together with other conditional capital outstanding has to be applied towards the statutory limit of 50% of registered share capital Conditional Capital underlying Authorization 30 . Company ISIN WKN K+S Aktiengesellschaft DE000KSAG888 KSAG88 Registered Share Capital EUR 191,400,000 191,400,000 no par value shares EUR 1 notional value per share Free Float as of December 2015 100.00% Authorized Capital Amount Term Subscription Rights Authorized Capital 2015/I EUR 19,140,000 May 11, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments amount (10.00%) is below the statutory limit of 50% of registered share capital; amount of share issuances without subscription rights against contribution in kind is limited to EUR 19,140,000; aggregate amount of share issuances without subscription rights is limited to 10% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of May 12, 2015) Convertible Bonds or Bonds with Warrants Amount of Principal Term Subscription Rights up to EUR 750,000,000 May 11, 2020 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) Type of Contribution against contribution in kind: yes, but can be excluded for M&A purposes and scrip dividend cash in kind (possible: M&A transactions, scrip dividend; debt-equity swap not possible) Type of Consideration against consideration in kind: yes, but can be excluded for M&A purposes cash in kind (possible: M&A transactions; debt-convertible swap not possible) - continued on next page - 31 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature n/a Conversion / Strike Price Comments 80% of reference price determined prior to issuance of bonds / during subscription period aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights is limited to 10% of registered share capital Amount EUR 19,140,000 Comments amount (10.00%) is below the statutory limit of 50% of registered share capital 32 . Company ISIN WKN Linde Aktiengesellschaft DE0006483001 648300 Registered Share Capital EUR 475,476,940.80 185,733,180 no par value shares EUR 2.56 notional value per share Free Float as of December 2015 93.38% Authorized Capital Type of Contribution Amount Term Subscription Rights Authorized Capital I (2013) EUR 47,000,000 May 28, 2018 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions; debt-equity swap might be possible) Authorized Capital II (2012) EUR 37,119,265.28 May 3, 2017 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions; debt-equity swap might be possible) Comments aggregate amount (17.69%) is below the statutory limit of 50% of registered share capital; Authorized Capital I: share issuances without subscription rights to company/group employees are limited to EUR 3,500,000 Authorization to Issue Convertible Bonds and Similar Instruments (of May 29, 2013) Convertible Bonds or Bonds with Warrants Amount of Principal Term Subscription Rights Type of Consideration up to EUR 3,500,000,000 May 28, 2018 yes, but can be excluded in certain cases (in particular up to 10% at market) cash - continued on next page - 33 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature no max. term Conversion / Strike Price Comments at least 80% of reference price determined prior to issuance of bonds / during subscription period n/a Amount EUR 47,000,000 Comments amount (9.89%) together with other conditional capital outstanding has to be applied towards the statutory limit of 50% of registered share capital 34 . Company ISIN WKN MERCK Kommanditgesellschaft auf Aktien DE0006599905 659990 Registered Share Capital EUR 168,014,927.60 129,242,252 no par value shares EUR 1.30 notional value per share Free Float as of December 2015 100% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital (2013) EUR 56,521,124.19 April 26, 2018 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount (33.64%) is below the statutory limit of 50% of registered share capital; proposal to amend Authorized Capital (2013) to reflect exclusion of subscription rights with respect to shares issued against contribution in kind failed at annual general meeting in 2014 (majority requirements not met) Authorization to Issue Convertible Bonds and Similar Instruments (of May 9, 2014) Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Profit-linked Bonds against contribution in kind: yes in kind (possible: M&A transactions, debt-equity swap) Amount of Principal Term Subscription Rights Type of Consideration up to EUR 2,000,000,000 May 8, 2019 yes, but can be excluded in certain cases (in particular up to 10% at market) cash - continued on next page - 35 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature no max. term Amount EUR 16,801,491.20 Comments amount (10%) is below the statutory limit of 50% of registered share capital Conversion / Strike Price at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) 36 Comments aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under authorized capital) is limited to 20% of registered share capital . Company ISIN WKN Registered Share Capital Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München DE0008430026 843002 EUR 587,725,396.48 166,843,961 no par value shares EUR 3.52 notional value per share Free Float as of December 2015 87.98% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2015 EUR 10,000,000 April 22, 2020 no cash Authorized Capital 2013 EUR 280,000,000 April 24, 2018 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments aggregate amount (49.34%) is slightly below the statutory limit of 50% of registered share capital; Authorized Capital 2013: aggregate amount of share issuances without subscription rights is limited to 20% of registered share capital; Authorized Capital 2015: authorization is limited to share issuances to company/group employees Authorization to Issue Convertible Bonds and Similar Instruments (of April 23, 2015) Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Profitlinked Bonds against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions; debt-equity swap might be possible) Amount of Principal Term Subscription Rights Type of Consideration up to EUR 3,000,000,000 April 22, 2020 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) cash against consideration in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions; debt-convertible swap might be possible) - continued on next page – 37 . Basic Terms Term of Securities Conversion / Strike Price Comments yes Conditional Capital underlying Authorization Mandatory Feature no max. term at least 50% of reference price determined prior to issuance of bonds/ during subscription period (determination different in case of mandatory conversion) aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under former Authorized Capital 2013) is limited to 20% of registered share capital Amount EUR 117,000,000 Comments amount (19.91%) is below the statutory limit of 50% of registered share capital 38 . Company ISIN WKN RWE Aktiengesellschaft DE0007037129 (ordinary shares; DAX) DE0007037145 (preference shares) 703712 (ordinary shares; DAX) 703714 (preference shares) Registered Share Capital EUR 1,573,748,477.44 575,745,499 no par value ordinary shares 39,000,000 no par value preference shares EUR 2.56 notional value per ordinary/preference share Free Float as of December 2015 ordinary shares: 83.85% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital (2014) EUR 314,749,693.44 April 15, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments Amount (20%) is below the statutory limit of 50% of registered share capital; limited to issuances of ordinary shares; aggregate amount of share issuances without subscription rights (including shares out of conditional capital underlying convertible bonds or bonds with warrants issued without subscription rights) is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments against contribution in kind: yes, but can be excluded for M&A purposes in kind (possible: M&A transactions; debt-equity swap not possible) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal n/a n/a n/a Amount n/a Comments n/a 39 . Company SAP SE DE0007164600 716460 Registered Share Capital ISIN WKN EUR 1,228,504,232 1,228,504,232 no par value shares EUR 1 notional value per share Free Float as of December 2015 76.14% Authorized Capital Type of Contribution Amount Term Subscription Rights Authorized Capital I (2015) EUR 250,000,000 May 19, 2020 yes Authorized Capital II (2015) EUR 250,000,000 May 19, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments aggregate amount (40.70%) is below the statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights (including shares out of conditional capital underlying convertible bonds or bonds with warrants issued without subscription rights) is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of May 25, 2011) cash against contribution in kind: yes, but can be excluded (in particular for M&A purposes and scrip dividend) cash in kind (possible: M&A transactions, scrip dividend; debt-equity swap might be possible) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration up to EUR 7,500,000,000 May 24, 2016 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Mandatory Feature Term of Securities Conversion / Strike Price Comments no Convertible Bonds or Bonds with Warrants Amount of Principal max. 30 years at least 80% of reference price determined prior to issuance of bonds / during subscription period n/a Amount EUR 100,000,000 Comments amount (8.14%) is below the statutory limit of 50% of registered share capital 40 . Company Siemens Aktiengesellschaft DE0007236101 723610 Registered Share Capital ISIN WKN EUR 2,643,000,000 881,000,000 no par value shares EUR 3 notional value per share Free Float as of December 2015 88.09% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2014 EUR 528,600,000 January 27, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Authorized Capital 2011 EUR 90,000,000 January 24, 2016 no Comments aggregate amount (23.41%) is below the statutory limit of 50% of registered share capital; Authorized Capital 2014: aggregate amount of share issuances without subscription rights (including shares out of conditional capital underlying convertible bonds or bonds with warrants issued without subscription rights) is limited to 20% of registered share capital; Authorized Capital 2011: limited to share issuances to company/group employees Authorization to Issue Convertible Bonds and Similar Instruments Convertible Bonds or Bonds with Warrants (Authorization of January 27, 2015) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions, debt-equity swap) cash Amount of Principal Term Subscription Rights Type of Consideration up to EUR 15,000,000,000 January 26, 2020 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) cash against consideration in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions, debt-convertible swap) - continued on next page - 41 . Convertible Bonds or Bonds with Warrants (Authorization of January 28, 2014) up to EUR 15,000,000,000 January 27, 2019 Mandatory Feature Term of Securities Authorization 2015 yes Authorization 2014 Basic Terms Conditional Capital underlying Authorization against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) against consideration in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A purposes, debt-convertible swap) Conversion / Strike Price Comments no max. term at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under other authorizations) is limited to 20% of registered share capital yes no max. term at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl.

shares issued without subscription rights under other authorizations) is limited to 20% of registered share capital Amount Authorization 2015: EUR 240,000,000; Authorization 2014: EUR 240,000,000 Comments aggregate amount (18.16%) together with other conditional capital outstanding has to be applied towards the statutory limit of 50% of registered share capital 42 . Company ThyssenKrupp AG DE0007500001 750000 Registered Share Capital ISIN WKN EUR 1,448,801,144.32 565,937,947 no par value shares EUR 2.56 notional value per share Free Float as of December 2015 76.97% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2014 EUR 370,000,000 January 16, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount (25.54%) is below the statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights (including treasury shares sold without subscription rights and shares out of conditional capital underlying convertible bonds or bonds with warrants issued without subscription rights) is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of January 17, 2014) Convertible Bonds against contribution in kind: yes, but can be excluded in kind (possible: M&A transactions; debt-equity swap might be possible) Amount of Principal Term Subscription Rights Type of Consideration up to EUR 2,000,000,000 January 16, 2019 yes, but can be excluded in certain cases ( in particular up to 10% at market) cash - continued on next page - 43 . Basic Terms Term of Securities Conversion / Strike Price Comments yes Conditional Capital underlying Authorization Mandatory Feature no max. term at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (including treasury shares sold without subscription rights and shares issued without subscription rights out of authorized capital) is limited to 20% of registered share capital Amount EUR 250,000,000 Comments amount (17.26%) is below the statutory limit of 50% of registered share capital 44 . Company ISIN WKN VOLKSWAGEN AKTIENGESELLSCHAFT DE0007664005 (ordinary shares) DE0007664039 (preference shares, DAX) 766400 (ordinary shares) 766403 (preference shares, DAX) Registered Share Capital EUR 1,217,872,117.76 295,089,818 no par value ordinary shares 180,641,478 no par value preference shares EUR 2.56 notional value per ordinary/preference share Free Float as of December 2015 preference shares: 87.15% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital (2015) EUR 179,200,000 May 4, 2020 yes cash Authorized Capital (2012) EUR 83,193,715.20 April 18, 2017 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments aggregate amount (21.55%) is below the statutory limit of 50% of registered share capital; Authorized Capital (2015) is limited to issuance of preference shares; out of Authorized Capital (2012) ordinary and/or preference shares can be issued Authorization to Issue Convertible Bonds and Similar Instruments against contribution in kind: yes, but can be excluded cash in kind (possible: M&A transactions; debtequity swap might be possible) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal n/a n/a n/a Amount n/a Comments n/a 45 . Company Vonovia SE DE000A1ML7J1 A1ML7J Registered Share Capital ISIN WKN EUR 466,000,624* 466,000,624 no par value shares EUR 1 notional value per share Free Float as of December 2015 100% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2013 EUR 1,900,790 June 29, 2018 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions, debt-equity swap) Authorized Capital 2015/I EUR 63,257,928 April 29, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions, debt-equity swap) Authorized Capital 2015/II EUR 12,266,064 November 30, 2016 against cash contribution: yes, but can be excluded against contribution in kind: yes, but can be excluded cash in kind Comments aggregate amount (16.61%) is below the statutory limit of 50% of registered share capital; Authorized Capital 2015/I: aggregate amount of share issuances without subscription rights is limited to 20% of registered share capita; Authorized Capital 2015/II: share issuances to shareholders of Deutsche Wohnen AG * On the extraordinary shareholder meeting in November 2015 two capital increases (amount up to EUR 245,194,002 and up to EUR 12,266,064) were resolved, but have not been registered in the commercial register. - continued on next page - 46 . Authorization to Issue Convertible Bonds and Similar Instruments (of April 30, 2015) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration up to EUR 5,311,000,000 April 29, 2020 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Mandatory Feature Term of Securities yes Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Profit-linked Bonds Amount of Principal no max. term Amount EUR 177,053,114 Comments amount (37.99%) is below the statutory limit of 50% of registered share capital against consideration in kind: yes, but can be excluded in kind (possible: M&A transactions; debt-convertible swap might be possible) Conversion / Strike Price at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) 47 Comments aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under other authorizations) is limited to 20% of registered share capital . ® German MDAX Companies 48 . Company Aareal Bank AG DE0005408116 540811 Registered Share Capital ISIN WKN EUR 179,571,663 59,857,221 no par value shares 3 EUR notional value per share Free Float as of December 2015 100% Authorized Capital Amount Term Subscription Rights Authorized Capital 2012 EUR 89,785,830 May 22, 2017 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments amount corresponds to 50% of registered share capital (statutory limit); share issuances to company/group employees are limited to EUR 4,000,000 Authorization to Issue Convertible Bonds and Similar Instruments (of May 21, 2014) Profit Participation Rights (with warrants or conversion feature) Amount of Principal Term Subscription Rights up to EUR 1,000,000,000 May 20, 2019 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) Type of Contribution against contribution in kind: yes, but can be excluded cash in kind (possible: M&A transactions; debt-equity swap might be possible) Type of Consideration against consideration in kind: yes, but can be excluded in case of profit participation rights without conversion rights (in particular for M&A purposes) cash in kind (possible: M&A transactions; debt-profit participation right swap might be possible) - continued on next page - 49 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature no max. term Amount EUR 89,785,830 Comments amount corresponds to 50% of registered share capital (statutory limit) Conversion / Strike Price at least 80% of reference price determined prior to issuance of bonds / during subscription period 50 Comments Profit Participation rights must be in line with the requirements of European banking legislation for additional tier 1 capital; aggregate amount of shares from underlying conditional capital to be issued in connection with profit participation rights with warrants or conversion feature without subscription rights (incl. shares issued without subscription rights under Authorized Capital 2012) is limited to 20% of registered share capital . Company Aurubis AG DE0006766504 676650 Registered Share Capital ISIN WKN EUR 115,089,210.88 44,956,723 no par value shares EUR 2.56 notional value per share Free Float as of December 2015 75.00% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2011 EUR 57,544,604.16 March 2, 2016 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount corresponds to 50% of registered share capital (statutory limit); aggregate amount of share issuances without subscription rights in cases of contribution in kind is limited to EUR 38,046,026.24 Authorization to Issue Convertible Bonds and Similar Instruments (of March 1, 2012) against contribution in kind: yes, but can be excluded in kind (possible: M&A transactions, debt-equity swap) Amount of Principal Term Subscription Rights Type of Consideration Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Profit-linked Bonds up to EUR 700,000,000 February 28, 2017 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Basic Terms Mandatory Feature Term of Securities Conversion / Strike Price Comments yes no max. term at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) n/a Amount EUR 52,313,277.44 Comments amount (45.45%) is below the statutory limit of 50% of registered share capital Conditional Capital underlying Authorization 51 . Company Axel Springer SE DE0005501357 550135 Registered Share Capital ISIN WKN EUR 107,895,311 107,895,311 no par value share EUR 1 notional value per share Free Float as of December 2015 40.89% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2015 2,044,689 April 13, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount (1.90%) is below the statutory limit of 50% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments against contribution in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions, debt-equity swap) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal n/a n/a n/a Amount n/a Comments n/a 52 . Company Bilfinger SE DE0005909006 590900 Registered Share Capital ISIN WKN EUR 138,072,381 46,024,127 no par value shares EUR 3 notional value per share Free Float as of December 2015 70.39% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2014 EUR 69,000,000 May 7, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount (49.97%) is slightly below the statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights is limited to 20% of registered share capital (incl. shares underlying convertible bonds or bonds with warrants issued without subscription rights under authorization below and treasury shares sold without subscription rights) Authorization to Issue Convertible Bonds and Similar Instruments (of April 18, 2013) Convertible Bonds or Bonds with Warrants against contribution in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions, debt-equity swap) Amount of Principal Term Subscription Rights Type of Consideration up to EUR 500,000,000 April 17, 2018 yes, but can be excluded in certain cases (in particular up to 10% at market) cash - continued on next page - 53 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature max. 15 years Amount EUR 13,807,236 Comments amount (10.00%) is below the statutory limit of 50% of registered share capital Conversion / Strike Price at least 100% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) 54 Comments aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under Authorized Capital and treasury shares sold without subscription rights) is limited to 20% of registered share capital . Company Brenntag AG DE000A1DAHH0 A1DAHH Registered Share Capital ISIN WKN EUR 154,500,000 154,500,000 no par value shares EUR 1 notional value per share Free Float as of December 2015 100% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2014 EUR 77,250,000 June 16, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount corresponds to 50% of registered share capital (statutory limit); aggregate amount of share issuances without subscription rights is limited to 20% of registered share capital (incl. shares underlying convertible bonds or bonds with warrants issued without subscription rights under authorization below) Authorization to Issue Convertible Bonds and Similar Instruments (of June 17, 2014) Convertible Bonds or Bonds with Warrants or Profit Participation Rights against contribution in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions; debt-equity swap might be possible) Amount of Principal Term Subscription Rights Type of Consideration up to EUR 2,000,000,000 June 16, 2019 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) cash against consideration in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions; debt-convertible swap might be possible) - continued on next page - 55 . Basic Terms Term of Securities Conversion / Strike Price Comments yes Conditional Capital underlying Authorization Mandatory Feature no max. term at least 80% of reference price determined prior to issuance of bonds / during subscription period aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under Authorized Capital 2014 or any other authorization) is limited to 20% of registered share capital Amount EUR 25,750,000 Comments amount (16.67%) is below the statutory limit of 50% of registered share capital 56 . Company Covestro AG DE0006062144 606214 Registered Share Capital ISIN WKN EUR 202,500,000 202,500,000 no par value shares EUR 1 notional value per share Free Float as of December 2015 n/a Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2015 EUR 101,250,000 October 2, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount corresponds to 50% of registered share capital (statutory limit) Authorization to Issue Convertible Bonds and Similar Instruments (of September 1, 2015) against contribution in kind: yes, but can be excluded (including for purpose of scrip dividend) in kind (possible: M&A transactions, debt-equity swap, scrip dividend) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration up to 1,500,000,000 EUR August 31, 2020 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Mandatory Feature Term of Securities yes Convertible Bonds, Bonds with Warrants and/ or Profit Participation Rights Amount of Principal no max. term Amount EUR 70,000,000 Comments amount (34.57%) is below the statutory limit of 50% of registered share capital against consideration in kind: yes, but can be excluded Conversion / Strike Price at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) 57 Comments n/a in kind (possible: M&A transactions, debt-convertible swap) . Company CTS Eventim AG & Co. KGaA DE0005470306 547030 Registered Share Capital ISIN WKN 96,000,000 EUR 96,000,000 no par value shares EUR 1 notional value per share Free Float as of December 2015 49.79% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2014 EUR 48,000,000 May 7, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments aggregate amount ; issuances without subscription rights to company/group employees are limited to 10% of registered shares capital; aggregate amount of share issuances without subscription rights is limited to 10% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of May 8, 2013) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions; debt-equity swap might be possible) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration up to 275,000,000 EUR May 7, 2018 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Mandatory Feature Term of Securities Conversion / Strike Price Comments yes Convertible Bonds or Bonds with Warrants Amount of Principal max. 20 years 130% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) n/a Amount EUR 44,000,000 Comments amount (45.83%) is below the statutory limit of 50% of registered share capital 58 . Company Deutsche EuroShop AG DE0007480204 748020 Registered Share Capital ISIN WKN EUR 53,945,536 53,945,536 no par value shares EUR 1 notional value per share Free Float as of December 2015 82.67% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2013 EUR 26,972,768 June 19, 2018 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount corresponds to 50% of registered share capital (statutory limit); aggregate amount of share issuances without subscription rights against contribution in kind is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of June 16, 2011) Convertible Bonds against contribution in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions; debt-equity swap might be possible) Amount of Principal Term Subscription Rights Type of Consideration up to EUR 200,000,000 June 15, 2016 yes, but can be excluded in certain cases (in particular up to 10% at market) cash - continued on next page - 59 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature max. 10 years Amount EUR 7,300,000 (original amount of conditional capital EUR 10,000,000 minus amount of conditional capital securing November 2012 convertible bond issuances of approximately EUR 2,700,000) Comments original amount (18.54%) is below the statutory limit of 50% of registered share capital Conversion / Strike Price 60 Comments at least 80% of reference price determined prior to issuance of bonds / during subscription period aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights is limited to 20% of registered share capital; in November 2012, the Company issued EUR 100,000,000 convertible bonds without subscription rights secured by up to approximately 2,700,000 shares from underlying conditional capital . Company Deutsche Wohnen AG DE000A0HN5C6 A0HN5C Registered Share Capital ISIN WKN EUR 336,426,511 286,216,731 no par value shares EUR 1 notional value per share Free Float as of December 2015 93.06% Authorized Capital Amount Term Subscription Rights Authorized Capital 2015 EUR 100,000,000 June 11, 2018 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments amount (29.72%) is below the statutory limit of 50% of registered share capital; issuances without subscription rights to company/group employees are limited to 5% of registered shares capital; aggregate amount of share issuances without subscription rights (incl. shares underlying convertible bonds, bonds with warrants or profit participation rights issued without subscription rights under authorization below) is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of June 12, 2015) Convertible Bonds, Bonds with Warrants, Profit Participation Rights and/or Profit-linked Bonds Amount of Principal Term Subscription Rights up to EUR 1,500,000,000 June 11, 2020 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) Type of Contribution against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions; debt-equity swap might be possible) Type of Consideration against consideration in kind: yes, but can be excluded cash in kind (possible: M&A transactions; debt-convertible swap might be possible) - continued on next page - 61 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature no max. term Amount EUR 50,000,000 Comments amount (14.86%) together with other conditional capital outstanding has to be applied towards the statutory limit of 50% of registered share capital Conversion / Strike Price 62 Comments at least 80% of reference price determined prior to issuance of bonds / during subscription period aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under Authorized Capital and treasury shares sold without subscription rights) is limited to 20% of registered share capital . Company Deutsche Pfandbriefbank AG DE0008019001 801900 Registered Share Capital ISIN WKN 380,376,059.67 EUR 134,475,308 no par value shares EUR 2.83 notional value per share Free Float as of December 2015 80.00% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2015 EUR 190,188,029.83 June 9, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount corresponds to 50% of registered share capital (statutory limit); issuances without subscription rights to company/group employees are limited to EUR 2,852,820.45 Authorization to Issue Convertible Bonds and Similar Instruments of June 10, 2015 Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Hybrid Bonds Amount of Principal 3,000,000,000 against contribution in kind: yes, but can be excluded (including for purpose of scrip dividend) in kind (possible: M&A transactions, debt-equity swap, scrip dividend) Term Subscription Rights Type of Consideration cash June 9, 2020 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) against consideration in kind: yes, but can be excluded in kind (possible: M&A transactions, debt-convertible swap) - continued on next page - 63 . Basic Terms Conversion / Strike Price Comments yes Conditional Capital underlying Authorization Term of Securities no max. term at least 50% of reference price determined prior to issuance of bonds / during subscription period (determination may be different in case of mandatory conversion; in case of issuances to company/group employees, management and executive board members) n/a Amount 190,188,029.83 Comments amount corresponds to 50% of registered share capital (statutory limit) Mandatory Feature 64 . Company DMG MORI SEIKI AKTIENGESELLSCHAFT* DE0005878003 587800 Registered Share Capital ISIN WKN EUR 204,926,784.40 78,817,994 no par value shares EUR 2.6 notional value per share Free Float as of December 2015 47.46% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2014 EUR 102,463,392.20 May 15, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount corresponds to 50% of registered share capital (statutory limit); issuances without subscription rights to company/group employees are limited to EUR 5,000,000; aggregate amount of share issuances without subscription rights (incl. those issued under any other authorized capital but not shares issued to company/group employees) is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments against contribution in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions; debt-equity swap might be possible) Conditional Capital underlying Authorization Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a n/a Amount n/a Comments Basic Terms Term n/a n/a Amount of Principal n/a * DMG MORI SEIKI AKTIENGESELLSCHAFT was formerly named Gildemeister Aktiengesellschaft. 65 . Company Dürr Aktiengesellschaft DE0005565204 556520 Registered Share Capital ISIN WKN EUR 88,578,662.40 34,601,040 no par value shares EUR 2.56 notional value per share Free Float as of December 2015 71.30% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2014 EUR 44,289,331.20 April 29, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount corresponds to 50% of registered share capital (statutory limit); aggregate amount of share issuances without subscription rights (incl. shares underlying convertible bonds or bonds with warrants issued without subscription rights under authorization below) is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of April 30, 2014) Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Profit-linked Bonds against contribution in kind: yes, but can be excluded in kind (possible: M&A transactions; debt-equity swap might be possible) Amount of Principal Term Subscription Rights Type of Consideration up to EUR 1,600,000,000 April 29, 2019 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) cash against consideration in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions, debt-convertible swap) - continued on next page - 66 . Basic Terms Term of Securities Conversion / Strike Price Comments yes Conditional Capital underlying Authorization Mandatory Feature no max. term at least 100% of reference price determined prior to issuance of bonds / during subscription period aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under authorized capital) is limited to 20% of registered share capital Amount EUR 44,289,331.20 Comments amount corresponds to 50% of registered share capital (statutory limit) 67 . Company ElringKlinger AG DE0007856023 785602 Registered Share Capital ISIN WKN EUR 63,359,990 63,359,990 no par value shares EUR 1 notional value per share Free Float as of December 2015 48.95% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2012 EUR 31,679,995 May 17, 2017 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount corresponds to 50% of registered share capital (statutory limit) Authorization to Issue Convertible Bonds and Similar Instruments in kind (possible: M&A transactions; debt-equity might be possible) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal against contribution in kind: yes, but can be excluded (in particular for M&A purposes) n/a n/a n/a Amount n/a Comments n/a 68 . Company Evonik Industries AG DE000EVNK013 EVNK01 Registered Share Capital ISIN WKN EUR 466,000,000 466,000,000 no par value shares EUR 1 notional value per share Free Float as of December 2015 25.96% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital (2014) EUR 116,500,000 May 1, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount (25%) is below the statutory limit of 50% of registered share capital; amount of share issuances without subscription rights to company/group employees is limited to 1% of registered share capital; aggregate amount of share issuances without subscription rights (incl. shares underlying convertible bonds or bonds with warrants issued without subscription rights under authorization below) is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of May 20, 2014) Convertible Bonds, Bonds with Warrants against contribution in kind: yes, but can be excluded (in particular for M&A purposes and scrip dividend) in kind (possible: M&A transactions, scrip dividend, debt-equity swap) Amount of Principal Term Subscription Rights Type of Consideration up to EUR 1,250,000,000 May 1, 2019 yes, but can be excluded in certain cases(in particular up to 10% at market) cash - continued on next page - 69 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature no max. term Amount EUR 37,280,000 Comments amount (8%) is below the statutory limit of 50% of registered share capital Conversion / Strike Price at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) 70 Comments aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under authorized capital) is limited to 20% of registered share capital . Company Fielmann Aktiengesellschaft DE0005772206 577220 Registered Share Capital ISIN WKN EUR 84,000,000 84,000,000 no par value shares EUR 1.00 notional value per share Free Float as of December 2015 28.36% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2011 EUR 5,000,000 July 6, 2016 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount (5.95%) is below the statutory limit of 50% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments against contribution in kind: yes, but can be excluded for M&A purposes Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal n/a n/a n/a Amount n/a Comments n/a 71 in kind (possible: M&A transactions; debt-equity swap not possible) . Company ISIN WKN Fraport AG Frankfurt Airport Services Worldwide DE0005773303 577330 Registered Share Capital EUR 923,850,760 92,385,076 no par value shares EUR 10 notional value per share Free Float as of December 2015 40.20% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital (2013) EUR 2,583,280 May 30, 2018 yes, but can be excluded in certain cases cash Comments amount (0.28%) is below statutory limit of 50% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal n/a n/a n/a Amount n/a Comments n/a 72 . Company ISIN WKN FUCHS PETROLUB SE DE0005790430 (preference shares; MDAX) DE0005790406 (ordinary shares) 579043 (preference shares; MDAX) 579040 (ordinary shares) Registered Share Capital EUR 139,000,000 69,500,000 no par value preference shares 69,500,000 no par value ordinary shares EUR 1 notional value per ordinary/preference share Free Float as of December 2015 preference shares: 100% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital (2015) 27,800,000 May 5, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments amount (20%) is below the statutory limit of 50% of registered share capital; amount of share issuances without subscription rights against contribution in kind is limited to 20% of registered share capital; aggregate amount of share issuances without subscription rights (incl. shares underlying convertible bonds or bonds with warrants issued without subscription rights) is limited to 20% of registered share capital; authorized capital provides for issuance of preference shares and ordinary shares Authorization to Issue Convertible Bonds and Similar Instruments against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions, debt-equity swap) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal n/a n/a n/a Amount n/a Comments n/a 73 . Company GEA Group Aktiengesellschaft DE0006602006 660200 Registered Share Capital ISIN WKN EUR 520,375,765.57 192,495,476 no par value shares EUR 2.70 notional value per share Free Float as of December 2015 92.12% Authorized Capital Type of Contribution Amount Term Subscription Rights Authorized Capital I (2012) EUR 77,000,000 April 23, 2017 yes Authorized Capital II (2015) EUR 130,000,000 April 15, 2020 against cash contribution: yes, but can be excluded in certain cases Authorized Capital III (2015) EUR 52,000,000 April 15, 2020 yes, but can be excluded in certain cases (in particular up to 10% at market) Comments aggregate amount (49.78%) is below the statutory limit of 50% of registered share capital; Authorized Capital II: aggregate amount of share issuances without subscription rights is limited to 10% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of April 16, 2015) cash against contribution in kind: yes, but can be excluded (in particular for M&A purposes and scrip dividend) cash in kind (possible: M&A transactions and scrip dividend; debt-equity swap might be possible) cash Amount of Principal Term Subscription Rights Type of Consideration up to EUR 750,000,000 April 15, 2020 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Profitlinked Bonds against consideration in kind: yes, but can be excluded in kind (possible: M&A transactions; debt-convertible swap might be possible) - continued on next page - 74 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature no max. term Amount EUR 51,903,633.82 Comments amount (9.97%) together with other conditional capital outstanding has to be applied towards the statutory limit of 50% of registered share capital; bonds issued against consideration in kind cannot be secured by this underlying conditional capital; upon conversion, company will deliver treasury shares or shares issued under authorized capital Conversion / Strike Price at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) 75 Comments n/a . Company Gerresheimer AG DE000A0LD6E6 A0LD6E Registered Share Capital ISIN WKN EUR 31,400,000 31,400,000 no par value shares EUR 1 notional value per share Free Float as of December 2015 100% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital (2012) EUR 15,700,000 April 25, 2017 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount corresponds to 50% of registered share capital (statutory limit); aggregate amount of share issuances without subscription rights (incl. shares underlying convertible bonds or bonds with warrants issued without subscription rights under authorization below) is limited to EUR 6,280,000 Authorization to Issue Convertible Bonds and Similar Instruments (of April 26, 2012) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions; debt-equity swap might be possible) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration up to EUR 500,000,000 April 25, 2017 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Mandatory Feature Term of Securities Conversion / Strike Price Comments yes Convertible Bonds or Bonds with Warrants Amount of Principal no max. term at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) n/a Amount EUR 6,280,000 Comments amount (20%) is below the statutory limit of 50% of registered share capital 76 . Company ISIN WKN Hannover Rück SE DE0008402215 840221 Registered Share Capital EUR 120,597,134 120,597,134 no par value shares EUR 1 notional value per share Free Float as of December 2015 49.78% Authorized Capital Amount Term Subscription Rights Type of Contribution n/a n/a n/a n/a n/a Comments n/a Amount of Principal Term Subscription Rights Type of Consideration (1) up to EUR 500,000,000 May 2, 2016 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Authorization to Issue Convertible Bonds and Similar Instruments (of May 3, 2011) Convertible Bonds or Bonds with Warrants (1), Profit Participation Rights (2), Profit-linked Bonds (3) (2) up to EUR 500,000,000 (3) up to EUR 500,000,000 Basic Terms n/a against consideration in kind: yes, but can be excluded Term of Securities no Conditional Capital underlying Authorization Mandatory Feature max. 20 years Amount EUR 60,298,567 Comments amount corresponds to 50% of registered share capital (statutory limit) n/a in kind (possible: M&A transactions; debt-convertible swap might be possible) Conversion / Strike Price 77 Comments at least 80% of reference price determined prior to issuance of bonds three parallel, identical authorizations that are secured by the same underlying conditional capital; share issuances against contribution in kind are limited to 20% of registered share capital . Company Hella KGaA Hueck & Co. DE000A13SX22 A13SX2 Registered Share Capital ISIN WKN 222,222,224 EUR 111,111,112 no par value shares EUR 2 notional value per share Free Float as of December 2015 27.68% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2014 44,000,000 EUR October 9, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount (19.80%) is below the statutory limit of 50% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments against contribution in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions; debt-equity swap might be possible) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal n/a n/a n/a Amount n/a Comments n/a 78 . Company HOCHTIEF Aktiengesellschaft DE0006070006 607000 Registered Share Capital ISIN WKN EUR 177,432,151.04 69,309,434 no par value shares EUR 2.56 notional value per share Free Float as of December 2015 25.19% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital (2015) EUR 54,000,000 May 5, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount (30.43%) is below statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights against contribution in kind is limited to 10% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of May 12, 2011) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions; debt-equity swap might be possible) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration up to EUR 1,000,000,000 May 11, 2016 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Mandatory Feature Term of Securities Conversion / Strike Price Comments yes Convertible Bonds, Bonds with Warrants, Profit Participations Rights or Profit-linked Bonds Amount of Principal no max. term at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) n/a Amount EUR 49,280,000 Comments amount (27.77%) is below the statutory limit of 50% of registered share capital 79 . Company ISIN WKN HUGO BOSS AG DE000A1PHFF7 A1PHFF Registered Share Capital EUR 70,400,000 70,400,000 no par value shares EUR 1 notional value per share Free Float as of December 2015 90.08% Authorized Capital Amount Term Subscription Rights Authorized Capital (2014) EUR 35,200,000 May 12, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments amount corresponds to 50% of registered share capital (statutory limit); aggregate amount of share issuances without subscription rights is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments Type of Contribution against contribution in kind: yes, but can be excluded cash in kind (possible: M&A transactions; debt-equity swap might be possible) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal n/a n/a n/a Amount n/a Comments n/a 80 . Company ISIN WKN Jungheinrich Aktiengesellschaft DE0006219934 (preference shares; MDAX) 621993 (preference shares; MDAX) Registered Share Capital EUR 102,000,000 16,000,000 no par value preference shares 18,000,000 no par value ordinary shares EUR 3 notional value per ordinary/preference share Free Float as of December 2015 preference shares: 100% Authorized Capital Amount Term Subscription Rights Type of Contribution n/a n/a n/a n/a n/a Comments n/a Authorization to Issue Convertible Bonds and Similar Instruments n/a n/a Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal n/a n/a n/a Amount n/a Comments n/a 81 . Company KION GROUP AG DE000KGX8881 KGX888 Registered Share Capital ISIN WKN EUR 98,900,000 98,900,000 no par value shares EUR 1 notional value per share Free Float as of December 2015 61.50% Authorized Capital Amount Term Subscription Rights Authorized Capital 2014 EUR 9,890,000 May 18, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments amount (10%) is below the statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights to company/group employees is limited to 5% of registered share capital; aggregate amount of shares issued under Authorized Capital 2014 (incl. shares underlying bond issued under authorizations below or shares issued under any other authorization) is limited to 10% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of May 19, 2014) Amount of Principal Term Subscription Rights up to EUR 800,000,000 May 18, 2019 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) Type of Contribution against contribution in kind: yes, but can be excluded (in particular for M&A purposes) Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Profit-linked Bonds cash in kind (possible: M&A transactions; debt-equity swap might be possible) Type of Consideration against consideration in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A purposes; debt-convertible swap might be possible) - continued on next page - 82 . Basic Terms Term of Securities Conversion / Strike Price Comments yes Conditional Capital underlying Authorization Mandatory Feature no max. term at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination may be different in case of mandatory conversion) aggregate amount of shares from underlying conditional capital to be issued in connection with bonds (incl. shares issued under any other authorization) is limited to 10% of registered share capital Amount EUR 9,890,000 Comments amount (10%) is below the statutory limit of 50% of registered share capital 83 . Company Klöckner & Co SE DE000KC01000 KC0100 Registered Share Capital ISIN WKN EUR 249,375,000 99,750,000 no par value shares EUR 2.50 notional value per share Free Float as of December 2015 89.62% Authorized Capital Amount Term Subscription Rights Authorized Capital 2012 EUR 124,687,500 May 24, 2017 against cash contribution: yes, but can be excluded in certain cases( in particular up to 10% at market) Comments amount corresponds to 50% of registered share capital (statutory limit); aggregate amount of share issuances without subscription rights against contribution in kind is limited to 20% of registered share capital; aggregate amount of share issuances without subscription rights (incl. shares underlying convertible bonds or bonds with warrants issued without subscription rights) is limited to EUR 49,875,000 Authorization to Issue Convertible Bonds and Similar Instruments (of May 24, 2013) Convertible Bonds or Bonds with Warrants Amount of Principal Term Subscription Rights up to EUR 750,000,000 May 23, 2018 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) Type of Contribution against contribution in kind: yes, but can be excluded cash in kind (possible: M&A transactions; debt-equity swap might be possible) Type of Consideration against consideration in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions, debt-convertible swap) - continued on next page - 84 . Basic Terms Mandatory Feature yes Conditional Capital underlying Authorization Term of Securities Conversion / Strike Price at least 80% of reference price determined prior to issuance of bonds no max. term Comments aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. other shares issued without subscription rights) is limited to EUR 49,875,000 Amount EUR 49,875,000 Comments amount (20%) together with other conditional capital outstanding has to be applied towards the statutory limit of 50% of registered share capital 85 . Company KRONES Aktiengesellschaft DE0006335003 633500 Registered Share Capital ISIN WKN EUR 40,000,000 31,593,072 no par value shares EUR 1.27 notional value per share Free Float as of December 2015 48.33% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital (2011) EUR 10,000,000 June 15, 2016 yes cash Comments amount (25%) is below the statutory limit of 50% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal n/a n/a n/a Amount n/a Comments n/a 86 . Company ISIN WKN KUKA Aktiengesellschaft DE0006204407 620440 Registered Share Capital EUR 92,841,619 35,708,315 no par value shares EUR 2.6 notional value per share Free Float as of December 2015 60.15% Type of Contribution Authorized Capital Amount Term Subscription Rights Authorized Capital 2015 EUR 46,420,808.20 June 9, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments amount corresponds to 50% of registered share capital (statutory limit); aggregate amount of share issuances without subscription rights is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of May 28, 2014) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions, debt-equity swap) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration up to 600,000,000 May 27, 2019 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Mandatory Feature Term of Securities Conversion / Strike Price Comments yes Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Profit-linked Bonds Amount of Principal no max. term at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) n/a Amount EUR 33,486,707.80 Comments amount (36,07%) together with other conditional capital outstanding has to be applied towards the statutory limit of 50% of registered share capital 87 . Company Lanxess Aktiengesellschaft DE0005470405 547040 Registered Share Capital ISIN WKN 91,522,936 EUR 91,522,936 no par value shares EUR 1 notional value per share Free Float as of December 2015 100% Type of Contribution Authorized Capital Amount Term Subscription Rights Authorized Capital I 16,640,534 May 22, 2018 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions, debt-equity swap) Authorized Capital II 18,304,587 May 22, 2018 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions, debt-equity swap) Comments aggregate amount (38.18%) is below the statutory limit of 50% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of May 13, 2015) Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Profit-linked Bonds Amount of Principal Term 1,000,000,000 Subscription Rights May 22, 2018 yes, but can be excluded in certain cases (in particular up to 10% at market) Type of Consideration cash - continued on next page - 88 . Basic Terms Term of Securities Conversion / Strike Price Comments yes Conditional Capital underlying Authorization Mandatory Feature no max. term at least 80% of reference price determined prior to issuance of bonds / during subscription period n/a Amount 18,304,587 Comments amount (20%) is below the statutory limit of 50% of registered share capital 89 . Company LEG Immobilien AG DE000LEG1110 LEG111 Registered Share Capital ISIN WKN EUR 62,769,788 62,769,788 no par value shares 1 EUR notional value per share Free Float as of December 2015 100% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2015 EUR 24,021,722 June 23, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount (38.27%) is below the statutory limit of 50% of registered share capital; share issuances to company/group employees are limited to 1,426,586 shares; aggregate amount of share issuances without subscription rights is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of June 24, 2015) Convertible Bonds, Bonds with Warrants and/or Profit Participation Rights Basic Terms against contribution in kind: yes, but can be excluded (in particular for M&A purposes) Amount of Principal Term Subscription Rights Type of Consideration up to EUR 1,200,000,000 June 23, 2020 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Conversion / Strike Price Comments at least 80% of reference price determined prior to issuance of bonds / during subscription period aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. other shares issued or sold without subscription rights) is limited to 20% of registered share capital Mandatory Feature Term of Securities yes Conditional Capital underlying Authorization in kind (possible: M&A transactions; debt-equity swap might be possible) no max. term Amount EUR 28,531,722 Comments amount (45.45%) is below the statutory limit of 50% of registered share capital 90 . Company LEONI AG DE0005408884 540888 Registered Share Capital ISIN WKN EUR 32,669,000 32,669,000 no par value shares EUR 1 notional value per share Free Float as of December 2015 100% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital (2012) EUR 16,334,500 May 15, 2017 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount corresponds to 50% of registered share capital (statutory limit); aggregate amount of share issuances without subscription rights against contribution in kind is limited to 10% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of May 7, 2015) against contribution in kind: yes, but can be excluded for M&A purposes in kind (possible: M&A transactions; debt-equity swap not possible) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration up to EUR 500,000,000 May 6, 2020 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Mandatory Feature Term of Securities Conversion / Strike Price Comments yes Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Profit-linked Bonds Amount of Principal no max. term at least 80% of reference price determined prior to issuance of bonds / during subscription period aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. other shares issued without subscription rights) is limited to 20% of registered share capital Amount EUR 6,533,800 Comments amount (20%) is below the statutory limit of 50% of registered share capital 91 . Company ISIN WKN METRO AG DE0007257503 (ordinary shares; MDAX) DE0007257537 (preference shares) 725750 (ordinary shares; MDAX) 725753 (preference shares) Registered Share Capital EUR 835,419,052.27 324,109,563 no par value ordinary shares 2,677,966 no par value preference shares EUR 2.56 notional value per ordinary/preference share Free Float as of December 2015 ordinary shares: 50.13% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital I (2012) EUR 325,000,000 May 22, 2017 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount (38.90%) is below the statutory limit of 50% of registered share capital; authorization is limited to issuance of ordinary shares Authorization to Issue Convertible Bonds and Similar Instruments (of February 20, 2015) Convertible Bonds or Bonds with Warrants Basic Terms against contribution in kind: yes, but can be excluded for M&A purposes Amount of Principal Term Subscription Rights Type of Consideration up to EUR 1,500,000,000 February 19, 2020 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Conversion / Strike Price Comments at least 80% of reference price determined prior to issuance of bonds / during subscription period n/a Mandatory Feature Term of Securities yes Conditional Capital underlying Authorization in kind (possible: M&A transactions; debt-equity swap not possible) no max. term Amount EUR 127,825,000 Comments amount (15.30%) is below the statutory limit of 50% of registered share capital 92 . Company MTU Aero Engines AG DE000A0D9PT0 A0D9PT Registered Share Capital ISIN WKN EUR 52,000,000 52,000,000 no par value shares EUR 1 notional value per share Free Float as of December 2015 98.10% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital (2015) EUR 15,600,000 April 14, 2020 yes, but can be excluded in certain cases (in particular up to 5% at market) cash Comments amount (30%) is below the statutory limit of 50% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of April 15, 2015) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration up to EUR 500,000,000 April 14, 2020 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Mandatory Feature Term of Securities Conversion / Strike Price Comments yes Convertible Bonds or Bonds with Warrants Amount of Principal no max. term at least 80% of reference price determined prior to issuance of bonds / during subscription period n/a Amount EUR 5,200,000 Comments amount (10%) is below the statutory limit of 50% of registered share capital 93 . Company NORMA Group SE DE000A1H8BV3 A1H8BV Registered Share Capital ISIN WKN EUR 31,862,400 31,862,400 no par value shares 1 EUR notional value per share Free Float as of December 2015 100% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2015 EUR 12,744,960 May 19, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount (40%) is below the statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights (incl. shares underlying bonds issued without subscription rights under authorization below) is limited to 10% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of May 20, 2015) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions; debt-equity swap might be possible) Amount of Principal Term Subscription Rights Type of Consideration up to EUR 200,000,000 May 19, 2020 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Convertible Bonds, Bonds with Warrants or Profit Participation Rights against consideration in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions; debt-convertible swap might be possible) - continued on next page - 94 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature no max. term Amount EUR 3,186,240 Comments amount (10%) is below the statutory limit of 50% of registered share capital Conversion / Strike Price at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination may be different in case of mandatory conversion) 95 Comments aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights) is limited to 10% of registered share capital . Company OSRAM Licht AG DE000LED4000 LED400 Registered Share Capital ISIN WKN EUR 104,689,400 104,689,400 no par value shares 1 EUR notional value per share Free Float as of December 2015 83.00% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2013 EUR 52,344,700 February 28, 2018 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount corresponds to 50% of registered share capital (statutory limit) Authorization to Issue Convertible Bonds and Similar Instruments (of June 14, 2013) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions; debt-equity swap might be possible) Conditional Capital underlying Authorization Subscription Rights Type of Consideration up to EUR 300,000,000 February 28, 2018 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Mandatory Feature Term of Securities Conversion / Strike Price Comments no max. term at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) n/a Amount EUR 10,207,216 Comments Basic Terms Term yes Convertible Bonds or Bonds with Warrants Amount of Principal amount (9.75%) is below the statutory limit of 50% of registered share capital . 96 . Company ProSiebenSat.1 Media AG DE000PSM7770 PSM777 Registered Share Capital ISIN WKN EUR 218,797,200 218,797,200 no par value ordinary shares EUR 1 notional value per share Free Float as of December 2015 97.68% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2013 EUR 109,398,600 July 22, 2018 against cash contribution: yes, but can be excluded cash Comments amount corresponds to 50% of registered share capital (statutory limit); cross-exclusion of subscription rights possible, thus, holders of preference shares may be excluded from subscription of ordinary shares and holders of ordinary shares may be excluded from subscription of preference shares; proposal for a new Authorized Capital 2014 was on the agenda of the annual general meeting 2014, however, no resolution was adopted Authorization to Issue Convertible Bonds and Similar Instruments against contribution in kind: yes, but can be excluded in kind (possible: M&A transactions; debt-equity swap might be possible) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal n/a n/a n/a Amount n/a Comments n/a 97 . Company Rheinmetall Aktiengesellschaft DE0007030009 703000 Registered Share Capital ISIN WKN EUR 111,510,656 43,558,850 no par value shares EUR 2.56 notional value per share Free Float as of December 2015 96.90% Authorized Capital Amount Term Subscription Rights Authorized Capital (2014) EUR 39,862,784 May 5, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments amount (35.75%) is below the statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights (incl. shares underlying bonds issued without subscription rights under authorization below and treasury shares sold without subscription rights or used for M&A purposes) is limited to 20% of registered share capital; share issuances to company/group employees are limited to EUR 1,000,000 Authorization to Issue Convertible Bonds and Similar Instruments (of May 6, 2014) Convertible Bonds or Bonds with Warrants Type of Contribution against contribution in kind: yes, but can be excluded for M&A purposes cash in kind (possible: M&A transactions; debt-equity swap not possible) Amount of Principal Term Subscription Rights Type of Consideration up to EUR 800,000,000 May 5, 2019 yes, but can be excluded in certain cases (in particular up to 10% at market) cash - continued on next page - 98 . Basic Terms Mandatory Feature yes Conditional Capital underlying Authorization Term of Securities Conversion / Strike Price at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) max. 20 years Comments aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under authorized capital above and treasury shares sold without subscription rights or used for M&A purposes) is limited to 20% of registered share capital Amount EUR 20,000,000 Comments amount (17.94%) is below the statutory limit of 50% of registered share capital 99 . Company RHÖN-KLINIKUM Aktiengesellschaft DE0007042301 704230 Registered Share Capital ISIN WKN EUR 167,406,175 66,962,470 no par value shares EUR 2.50 notional value per share Free Float as of December 2015 55.47% Authorized Capital Amount Term Subscription Rights Type of Contribution n/a n/a n/a n/a n/a Comments n/a Amount of Principal Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a n/a n/a Amount n/a Comments n/a Authorization to Issue Convertible Bonds and Similar Instruments n/a Basic Terms Conditional Capital underlying Authorization 100 . Company Salzgitter Aktiengesellschaft DE0006202005 620200 Registered Share Capital ISIN WKN EUR 161,615,273.31 60,097,000 no par value shares EUR 2.69 notional value per share Free Float as of December 2015 63.52% Authorized Capital Amount Term Subscription Rights Authorized Capital 2012 EUR 80,807,636.65 May 23, 2017 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments amount corresponds to 50% of registered share capital (statutory limit); aggregate amount of share issuances without subscription rights (incl. shares underlying convertible bonds, bonds with warrants, profit participation rights or profit-linked bonds issued without subscription rights) is limited to 20% of registered share capital; share issuances to company/group employees are limited to 5% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of May 23, 2013) Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Profit-linked Bonds Type of Contribution against contribution in kind: no cash in kind (possible: M&A transactions; debt-equity swap might be possible) Amount of Principal Term Subscription Rights Type of Consideration up to EUR 1,000,000,000 May 22, 2018 yes, but can be excluded in certain cases (in particular up to 10% at market) cash - continued on next page - 101 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature no max. term Amount EUR 71,259,604.66 Comments amount (44.09%) is slightly below the statutory limit of 50% of registered share capital; the convertible bonds issued in June 2015 are secured by 3,548,407 shares Conversion / Strike Price at least 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) 102 Comments in June 2015 the company issued convertible bonds with principal amount of EUR 167,900,000; aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under authorized capital) is limited to 20% of registered share capital . Company STADA Arzneimittel Aktiengesellschaft DE0007251803 725180 Registered Share Capital ISIN WKN EUR 162,090,344 62,342,440 no par value shares EUR 2.60 notional value per share Free Float as of December 2015 100% Authorized Capital Amount Term Subscription Rights Authorized Capital (2013) EUR 77,134,304 June 4, 2018 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments amount (47.59%) is slightly below the statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights (incl. shares underlying convertible bonds issued without subscription rights) is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of June 5, 2013) Type of Contribution against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions, debt-equity swap) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration up to EUR 1,000,000,000 June 4, 2018 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Mandatory Feature Term of Securities Conversion / Strike Price Comments yes Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Profit-linked Bonds Amount of Principal no max. term 80% of reference price determined prior to issuance of bonds / during subscription period (determination different in case of mandatory conversion) aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under authorized capital) is limited to 20% of registered share capital Amount EUR 69,188,340 Comments amount (42.69%) together with other conditional capital outstanding has to be applied towards the statutory limit of 50% of registered share capital 103 .

Company STRÖER SE DE0007493991 749399 Registered Share Capital ISIN WKN 55,282,499 EUR 55,282,499 no par value shares EUR 1 notional value per share Free Float as of December 2015 n/a Authorized Capital Amount Term Subscription Rights June 17, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Type of Contribution against contribution in kind: yes, but can be excluded (in particular for M&A purposes) Authorized Capital 2014 12,525,780 Comments cash in kind (possible: M&A transactions; debt-equity swap might be possible) amount (22.66%) is below the statutory limit of 50% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal n/a n/a n/a Amount n/a Comments n/a 104 . Company ISIN WKN Südzucker Aktiengesellschaft Mannheim/Ochsenfurt DE0007297004 729700 Registered Share Capital EUR 204,183,292 204,183,292 no par value shares EUR 1 notional value per share Free Float as of December 2015 34.00% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2015 EUR 20,000,000 July 15, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments amount (9.80%) is below statutory limit of 50% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions, debt-equity swap) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a Amount of Principal n/a n/a) n/a Amount n/a Comments n/a 105 . Company Symrise AG DE000SYM9999 SYM999 Registered Share Capital ISIN WKN EUR 129,812,574 129,812,574 no par value shares EUR 1 notional value per share Free Float as of December 2015 94.67% Authorized Capital Amount Term Subscription Rights Authorized Capital (2015) EUR 25,000,000 May 11, 2020 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) Comments amount (19.26 %) is below the statutory limit of 50% of registered share capital; aggregate amount of share issuances without subscription rights to company/group employees is limited to 1,000,000 shares Authorization to Issue Convertible Bonds and Similar Instruments (of May 14, 2013) Type of Contribution against contribution in kind: yes, but can be excluded for M&A purposes cash in kind (possible: M&A transactions; debt-equity swap not possible) Basic Terms Conditional Capital underlying Authorization Term Subscription Rights Type of Consideration up to EUR 1,000,000,000 May 13, 2018 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Mandatory Feature Term of Securities Conversion / Strike Price Comments yes Convertible Bonds or Bonds with Warrants Amount of Principal no max. term 80% of reference price determined prior to issuance of bonds / during subscription period aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights is limited to 20% of registered share capital Amount EUR 23,000,000 Comments amount (17.72%) is below the statutory limit of 50% of registered share capital 106 . Company TAG Immobilien AG DE0008303504 830350 Registered Share Capital ISIN WKN EUR 131,712,859 131,712,859 no par value shares 1 EUR notional value per share Free Float as of December 2015 90.39% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2012/I EUR 8,190,307 June 13, 2017 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions; debt-equity swap might be possible) Authorized Capital 2013/I EUR 20,000,000 June 13, 2018 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions; debt-equity swap might be possible) Comments aggregate amount (21.40%) is below the statutory limit of 50% of registered share capital; Authorized Capital 2012/I: aggregate amount of share issuances without subscription rights is limited to 20% of registered share capital; Authorized Capital 2013/I: aggregate amount of share issuances without subscription rights is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments Amount of Principal Term Subscription Rights Type of Consideration Convertible Bonds or Bonds with Warrants (Authorization of July 14, 2013) up to EUR 160,000,000 June 13, 2018 yes, but can be excluded in certain cases (in particular up to 10% at market) cash Convertible Bonds or Bonds with Warrants (Authorization of June 19, 2015) up to EUR 300,000,000 June 18, 2020 yes, but can be excluded in certain cases (in particular up to 10% at market) cash - continued on next page - 107 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature no max. term Amount Authorization 2013: EUR 13,000,000; Authorization 2015: EUR 20,000,000 Comments aggregate amount (25.05%) together with other conditional capital outstanding has to be applied towards the statutory limit of 50% of registered share capital Conversion / Strike Price at least 80% of reference price determined prior to issuance of bonds 108 Comments n/a . Company Talanx Aktiengesellschaft DE000TLX1005 TLX100 Registered Share Capital ISIN WKN EUR 315,997,042.50 252,797,634 no par value shares 1.25 EUR notional value per share Free Float as of December 2015 20.96% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital (2012) EUR 142,307,260 September 28, 2017 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount (45.03%) is below the statutory limit of 50% of registered share capital; share issuances to company/group employees are limited to EUR 785,060 Authorization to Issue Convertible Bonds and Similar Instruments against contribution in kind: yes, but can be excluded in kind (possible: M&A transactions, debt-equity swap) Amount of Principal Term Subscription Rights Type of Consideration Convertible Bonds (Authorization of May 15, 2012) up to EUR 1,100,000,000 May 14, 2017 yes, but can be excluded cash Convertible Bonds and Bonds with Warrants (Authorization I of August 28, 2012) up to EUR 26,000,000 August 27, 2017 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) cash against consideration in kind: yes, but can be excluded in kind (possible: M&A transactions, debt-convertible swap) - continued on next page - 109 . Profit Participation Rights (Authorization II August 28, 2012) up to EUR 26,000,000 August 27, 2017 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) against consideration in kind: yes, but can be excluded cash in kind (possible: M&A transactions, debt-profit participation right swap) Profit-linked Bonds (Authorization III August 28, 2012) up to EUR 26,000,000 August 27, 2017 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) against consideration in kind: yes, but can be excluded cash in kind (possible: M&A transactions, debt-profit-linked bond swap) Mandatory Feature Term of Securities Basic Terms Conversion / Strike Price Comments Authorization of May 15, 2012 only mandatory conversion no max. term conversion ratio is determined by dividing the outstanding principal amount of the bonds through the subscription price per share of Talanx AG on the basis of this authorization the management board of the company is entitled to issue subordinated registered conditional mandatory convertible bonds up to the net dividend income distributed to HDI V.a.G. Authorization I yes indefinite term or max. 20 years at least 80% of reference price determined prior to issuance of bonds Authorization II Yes max. 20 years Authorization III Yes max.

20 years aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights against consideration in kind is limited to 20% of registered share capital Amount Conditional Capital II: EUR 78,000,000 ; Conditional Capital III: EUR 26.000.000 Comments aggregate amount (32.91%) is below the statutory limit of 50% of registered share capital; Conditional Capital III is securing bonds issued out of Authorizations I to III above; Conditional Capital II is securing bonds issued under Authorization of May 15, 2012 Conditional Capital underlying Authorization 110 at least 80% of reference price determined prior to issuance of bonds at least 80% of reference price determined prior to issuance of bonds . Company Wacker Chemie AG DE000WCH8881 WCH888 Registered Share Capital ISIN WKN EUR 260,763,000 52,152,600 no par value shares EUR 5 notional value per share Free Float as of December 2015 28.76% Authorized Capital Amount Term Subscription Rights Type of Contribution n/a n/a n/a n/a n/a Comments n/a Amount of Principal Term Subscription Rights Type of Consideration n/a n/a n/a n/a Mandatory Feature Term of Securities Conversion / Strike Price Comments n/a n/a n/a n/a Amount n/a Comments n/a Authorization to Issue Convertible Bonds and Similar Instruments n/a Basic Terms Conditional Capital underlying Authorization 111 . Company Wincor Nixdorf Aktiengesellschaft DE000A0CAYB2 A0CAYB Registered Share Capital ISIN WKN EUR 33,084,988 33,084,988 no par value shares EUR 1 notional value per share Free Float as of December 2015 90.00% Authorized Capital Amount Term Subscription Rights Type of Contribution Authorized Capital 2014 EUR 16,542,494 January 19, 2019 against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Comments amount corresponds to 50% of registered share capital (statutory limit); aggregate amount of share issuances without subscription rights (incl. shares underlying convertible bonds or bonds with warrants) is limited to 20% of registered share capital; aggregate amount of share issuances against contribution in kind is limited to 20% of registered share capital Authorization to Issue Convertible Bonds and Similar Instruments (of January 21, 2013) against contribution in kind: yes, but can be excluded for M&A purposes in kind (possible: M&A transactions; debt-equity swap not possible) Amount of Principal Term Subscription Rights Type of Consideration up to EUR 500,000,000 January 20, 2018 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Convertible Bonds, Bonds with Warrants, Profit Participation Rights or Profit-linked Bonds against consideration in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions; debt-convertible swap might be possible) - continued on next page - 112 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature max. 20 years Amount EUR 10,000,000 Comments amount (30.23%) together with other conditional capital outstanding has to be applied towards the statutory limit of 50% of registered share capital Conversion / Strike Price at least 90% of reference price determined prior to issuance of bonds (determination different in case of mandatory conversion) 113 Comments aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under authorized capital) is limited to 20% of registered share capital . Company Zalando SE DE000ZAL1111 ZAL111 Registered Share Capital ISIN WKN 247,059,518 EUR 247,059,518 no par value shares EUR 1 notional value per share Free Float as of December 2015 47.69% Authorized Capital Amount Term Subscription Rights Type of Contribution EUR 3,062,125 October 28, 2018 no cash Authorized Capital 2015 EUR 94,694,847 January 19, 2019 Comments amount (39.57%) is below the statutory limit of 50% of registered share capital; Authorized Capital 2015: aggregate amount of share issuances without subscription rights (incl. shares underlying bonds issued without subscription rights under authorization below and treasury shares sold without subscription rights) is limited to 20% of registered share capital Authorized Capital 2013 Authorization to Issue Convertible Bonds and Similar Instruments (of June 2, 2015) against cash contribution: yes, but can be excluded in certain cases (in particular up to 10% at market) against contribution in kind: yes, but can be excluded (in particular for M&A purposes) cash in kind (possible: M&A transactions, debt-equity swap) Amount of Principal Term Subscription Rights Type of Consideration 2,400,000,000 June 1, 2020 against cash consideration: yes, but can be excluded in certain cases (in particular up to 10% at market) cash Convertible Bonds and/or Bonds with Warrants against consideration in kind: yes, but can be excluded (in particular for M&A purposes) in kind (possible: M&A transactions, debt-convertible swap) - continued on next page - 114 . Basic Terms Term of Securities yes Conditional Capital underlying Authorization Mandatory Feature no max. term Amount EUR 73,889,248 Comments amount (29.94%) together with other conditional capital outstanding has to be applied towards the statutory limit of 50% of registered share capital Conversion / Strike Price at least 80% of reference price determined prior to issuance of bonds (determination different in case of mandatory conversion) 115 Comments aggregate amount of shares from underlying conditional capital to be issued in connection with bonds issued without subscription rights (incl. shares issued without subscription rights under authorized capital and treasury shares sold without subscription rights) is limited to 20% of registered share capital . 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