Declaration on corporate governance in accordance with Article 289a HGB (German Commercial Code)

Relevant information about corporate management practices that extend above and beyond legal requirements, and a description of the working methods of the Board of Management and Supervisory Board of PATRIZIA Immobilien AG

As a company, we have established principles for our business activities and the associated objectives as well as principles applying to our general values which extend beyond daily events:

  • We think in the long-term in order to equip PATRIZIA for the future, we act in a business-oriented manner and act to ensure sustainable development for the Company.

  • We are success-driven and make clear decisions, ensuring they are consistently implemented through optimum processes and need-based solutions.

  • We work together constructively, reflect on our own actions and give respectful and direct feedback. Through leadership and example, we expect and encourage the requisite conduct.

As required by law, PATRIZIA Immobilien AG operates a dual management system based on a clear separation of duties between the Board of Management in its capacity as the executive body and the Supervisory Board in its capacity as the supervisory body. As a listed German stock corporation, the management of PATRIZIA is primarily governed by the Aktiengesetz (German Stock Corporation Act). In addition, cooperation between the Board of Management and the Supervisory Board in a spirit of trust and confidence for the good of the Company is closely based on the principles of the German Corporate Governance Code. The currently applicable declaration of conformity pursuant to Article 161 of the Aktiengesetz (AktG – German Stock Corporation Act) can be found here.

Implementation of the Act on Equal Participation of Women and Men in Executive Positions in the Private and Public Sectors
The Act on Equal Participation of Women and Men in Executive Positions in the Private and Public Sectors requires listed companies – like PATRIZIA Immobilien AG – to set out targets for the proportion of women on the Supervisory Board, on the Board of Management and in the two managerial levels below the Managing Board, as well as deadlines for achieving these targets (Article 111(5) and Article 76(4) of the German Stock Corporation Act – AktG). Respective targets were to be specified by 30 September 2015, while the deadline for achieving the targets may not extend past 30 June 2017.

At present, the Supervisory Board and Board of Management of PATRIZIA Immobilien AG have no female members. Within the management level which reports directly to the Board of Management, the proportion of women is 7%, while in the second managerial level below the Board of Management the proportion has even been over 30% for some years. The Company aims to achieve the statutory target ratio of 30% for both genders at all levels. When appointing persons to any and all positions in the Company, but especially those of Board of Management members and executives, the Supervisory Board and the Company’s management attach paramount importance to the best possible skills and qualifications Consequently, the Board of Management has set a target of at least 7% by 30 June 2017 for the first managerial tier, while for the second managerial tier its target is at least 30% for each gender.

Augsburg, 18 February 2016
PATRIZIA Immobilien AG

The Board of Management:

Wolfgang Egger  
Karim Bohn
Klaus Schmitt