On 30 December 2024, the Board of Management and the Supervisory Board of Deutsche Telekom AG declared that the recommendations of the "Government Commission on the German Corporate Governance Code" published by the Federal Ministry of Justice in the official section of the Federal Gazette on 27 June 2022 will be complied with without exception.
The Board of Management and the Supervisory Board of Deutsche Telekom AG update their Declaration of Conformity as a mere precaution with the following declaration of deviation from recommendation B.4:
According to recommendation B.4, any re-appointment of a member of the management board before the end of one year prior to the end of the term of appointment with concurrent termination of the current appointment shall only happen if special circumstances apply. On 27 January 2025, Mr. Timotheus Höttges was re-appointed as Chairman of the Board of Management of Deutsche Telekom AG by the Supervisory Board of Deutsche Telekom AG for the period from 1 February 2025 until 31 December 2028. At the same time the current appointment for the period until 31 December 2026 was terminated with effect as of the end of 31 January 2025.
Deutsche Telekom AG believes that there are special circumstances for the earlier reappointment. In particular, strategic reasons require today to safeguard continuity in the person of the Chairman of the Board of Management beyond 31 December 2026 for the company.
Deutsche Telekom AG nonetheless declares, as a matter of precaution, that it deviates from recommendation B.4 with the early re-appointment of Mr. Timotheus Höttges as member of the Board of Management. This declaration is made to avoid any legal uncertainty. Deutsche Telekom AG intends to comply with the recommendation B.4 again for future re-appointments of members of the Board of Management.
Otherwise the Declaration of Conformity of 30 December2024 remains unchanged.
Bonn, 27 January 2025
Disclaimer: This document is a convenience translation of the German original. In case of discrepancy between the English and German versions, the German version shall prevail.