Corporate Governance

In accordance with section 17 (2) of the SE-Ausführungsgesetz (SEAG — German SE Implementation Act), the Supervisory Board of a listed SE, whose Supervisory Board has an equal number of shareholder and employee representatives, must be at least 30% women and at least 30% men.

The Supervisory Board of the Company has satisfied these requirements since the most recent elections to the Supervisory Board at the 2016 Annual General Meeting.

Pursuant to section 111 (5) of the AktG, the Supervisory Board of MAN SE has again set a target of 0% for female members of the Executive Board in the period from January 1, 2017 to December 31, 2021. Pursuant to section 76 (4) of the AktG, the Executive Board of MAN SE has likewise set the following goals for females in the two management levels directly below the Executive Board in the period from January 1, 2017 to December 31, 2021: 29.2% for females in the first management level below the Executive Board and 40% for females in the second management level below the Executive Board.

Pursuant to section 111 (5) of the AktG, the Supervisory Board of MAN Truck & Bus AG has set a target of 18.8% for female members on the Supervisory Board and 0% for female members on the Executive Board in the period from January 1, 2017 to December 31, 2021.

Pursuant to section 76 (4) of the AktG, the Executive Board of MAN Truck & Bus AG has likewise set the following goals for females in the two management levels directly below the Executive Board in the period from January 1, 2017 to December 31, 2021: 9.4% for females in the first management level below the Executive Board and 12.1% for females in the second management level below the Executive Board.

Pursuant to section 111 (5) of the AktG, the Supervisory Board of MAN Truck & Bus Deutschland GmbH has set a target of 16.7% for female members on the Supervisory Board and 0% for female Directors in the period from January 1, 2017 to December 31, 2021.

Pursuant to section 36 of the GmbHG, the Directors of MAN Truck & Bus Deutschland GmbH have likewise set the following goals for females in the two management levels directly below the Directors in the period from January 1, 2017 to December 31, 2021. 9.5% for females in the first management level below the Directors and 29.4% for females in the second management level below the Directors.

Pursuant to section 111 (5) of the AktG, the Supervisory Board of MAN Energy Solutions SE (formerly MAN Diesel & Turbo SE) has set a target of 5.6% for female members on the Supervisory Board and 0% for female members on the Executive Board in the period from January 1, 2017 to December 31, 2021.

Pursuant to section 76 (4) of the AktG, the Executive Board of MAN Energy Solutions SE has likewise set the following goals for females in the two management levels directly below the Executive Board in the period from January 1, 2017 to December 31, 2021: 7.5% for females in the first management level below the Executive Board and 11.6% for females in the second management level below the Executive Board.

Pursuant to section 96 (2) sentence 1 of the Aktiengesetz (AktG — German Stock Corporation Act), the Supervisory Board of a listed company to which the Mitbestimmungsgesetz (MitbestG – German Codetermination Act) applies, must be at least 30% women and at least 30% men.

The shareholder representatives objected to the overall fulfillment of the quota pursuant to section 96 (2) of the AktG. As a result, at least two women and at least two men are to be appointed to both the shareholder side and the employee side of the Supervisory Board.

The shareholder side of the Supervisory Board is made up of two women and four men, fulfilling this requirement. The employee side of the Supervisory Board is made up of six men and no women. However, this does not contravene the statutory requirement since the members were appointed in previous years.

Pursuant to section 111 (5) of the AktG, the Supervisory Board of RENK Aktiengesellschaft has again set a target of 0% for female members of the Executive Board in the period from January 1, 2017 to December 31, 2021.

Pursuant to section 76 (4) of the AktG, the Executive Board set a target of 0% for the percentage of women in the first and 12.8% for the percentage of women in the second management level below the Executive Board on July 27, 2015. The deadline for reaching both targets was June 30, 2017. The target was not met for the second management level below the Executive Board.

The percentage of women in the second management level below the Executive Board was 10.9% as of June 30, 2017. The failure to meet this target is due to the departure of two female managers. The duties of one of these managers were reassigned to other organizational functions and the vacant position was not filled. It was not possible to find a female manager with the corresponding profile of skills and expertise for the other position.

This means that the percentage of women in the second management level is on par with that of women in the entire workforce. The Executive Board’s instructions to increase the percentage of women in the workforce as a whole and, particularly, the percentage of female academics are specifically intended to help achieve the target for the percentage of women set by the Executive Board. RENK traditionally fills most of its management positions from its own ranks. In light of this, women are more likely to be nominated for regular training programs for junior managers and to undergo managerial training.

Pursuant to section 76 (4) of the AktG, the Executive Board has again set a target of 0% for the percentage of women in the first and 12.8% for the percentage of women in the second management level below the Executive Board in the period from July 1, 2017, to December 31, 2021.