Nabaltec_E_GB2016

REPORT OF THE SUPERVISORY BOARD 13 Major events, as well as questions relating to strategy, planning, business development, the risk position, risk management and compliance, were considered by the Supervisory Board both on its own and in conjunction with the Management Board. The Supervisory Board voted on the reports and draft resolutions submitted by the Management Board after care- ful deliberation and review. All transactions requiring approval in Financial Year 2016 were decided positively. All transactions requiring approval were decided positively The Supervisory Board of Nabaltec AG expounded on the objectives for composition of the Supervisory Board in 2016, and this addition was published in the Corporate Governance Report. In the Supervisory Board’s estimation, a sufficient number of its members should be considered independent. However, the Supervisory Board reserves the right to approve consulting and employment agreements between individual members of the body and the company if the Management Board and Supervisory Board concur that the conclusion of such an agreement is in the company’s interest in that particular case. In accordance with the German Corporate Governance Code, the Supervisory Board has re- viewed the efficiency of its activities and has reached a positive conclusion. The focuses of its review were above all on procedures and the timely and adequate provision of information. FINANCIAL YEAR 2016 The Supervisory Board once again opted not to form committees in the past financial year. The Supervisory Board of Nabaltec AG consists of three members, and is therefore of suitable size for all matters to be considered and decided by the full Supervisory Board. No conflicts of interest for individual Supervisory Board members arose in the course of deliberations or voting by the Supervisory Board, or in the Board’s exercise of its supervisory mandate in the 2016 reporting year. The Supervisory Board met in four regular sessions: on 14 April 2016, on 30 June 2016 fol- lowing the Annual General Meeting, on 27 September 2016 and on 15 December 2016. No further sessions were held in 2017 until the Supervisory Board meeting in April, in which the Board votes on adoption of the financial statements. All members were present at all meetings in 2016. The members of the Supervisory Board also deliberated in writing and by telephone, and in ten cases resolutions were approved in writing. Among the Board’s decisions were resolutions with regard to the composition of the Management Board, the reappoint- ment of Management Board members and the appointment of new members. Resolutions were also adopted concerning adjustments with respect to the goals for composition of the Supervisory Board and the Rules of Procedure for the Supervisory Board, as well as the purchase of real estate. FOCUS OF DELIBERATIONS Even outside the Supervisory Board meetings, the Supervisory Board was routinely notified of important events of essential importance for assessing the position, performance and manage- ment of the company. The company’s current situation, the development of the business posi- tion, important transactions and key decisions by the Management Board were also the subject of discussions between the Management Board and the Supervisory Board and were addressed The Supervisory Board met in four regular sessions Annual Report 2016 | Nabaltec AG ||||

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