The external auditor is appointed by the annual general meeting. The Supervisory Board is directly responsible for supervising the work of the external auditor.

Together with the Group Management Board, the Supervisory Board evaluates the performance of the external auditor once every four years. The annual general meeting is informed of its conclusions.

The external auditor attends the meetings of the Supervisory Board that consider the external auditor’s report on the audit of the financial statements and the adoption of the financial statements. The external auditor also attends the meeting of the Supervisory Board that considers the half-year results.

The Group Management Board and the Supervisory Board took measures several years ago to ensure the auditor’s objectivity and independence by restricting the other engagements awarded to it.