Closing statement by the Board of Management on the dependent company report
Since the Federal Republic of Germany, as minority shareholder of Deutsche Telekom AG, has represented a solid majority at most shareholders’ meetings in the past due to its level of attendance, Deutsche Telekom is a dependent company of the Federal Republic of Germany in accordance with § 17 (1) AktG.
Deutsche Telekom is not subject to any control or profit and loss transfer agreement with the Federal Republic of Germany. Under § 312 AktG, the Board of Management of Deutsche Telekom AG has therefore prepared a dependent company report describing relations between the controlling entity and dependent companies. The Board of Management issued the following statement at the end of the report: “The Board of Management hereby declares that, under the circumstances known to the Board of Management at the time the corporate transactions were performed, the Company received appropriate remuneration for such transactions. The Company did not perform or omit any actions in the interests of, or on the instructions of, the controlling company or any affiliated companies of the Federal Republic.”