I. The Board of Management and the Supervisory Board of Deutsche Telekom AG hereby declare
that in the period since submission of the most recent declaration of conformity pursuant to
§ 161 AktG on December 30, 2021, Deutsche Telekom AG has complied with the recommendations
of the Government Commission on the German Corporate Governance Code announced by the
Federal Ministry of Justice on March 20, 2020, in the official section of the Federal Gazette
(Bundesanzeiger), with the exception of recommendation C.5 (maximum number of supervisory
board mandates).
II. The Board of Management and the Supervisory Board of Deutsche Telekom AG hereby declare
further that as of today Deutsche Telekom AG complies with 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 (Bundesanzeiger) on
June 27, 2022, with the exception of recommendation C.5 (maximum number of supervisory
board mandates).
III. Reason for the declared deviation from recommendation C.5:
According to recommendation C.5, members of the management board of listed companies
should not have, in aggregate, more than two supervisory board mandates in non-group listed
companies or comparable functions, and should not accept the chairmanship of a supervisory board
in a non-group listed company. In the opinion of the Management Board and the Supervisory Board,
the total number of supervisory board mandates held or the supervisory board chairmanship in
non-group listed companies and comparable functions should be assessed more appropriately on a
case-by-case basis than by means of a rigid limitation. As long as it is ensured that a member of the
Supervisory Board of Deutsche Telekom AG has sufficient time to exercise this supervisory board
mandate with due regularity and care, a deviation from recommendation C.5 may appear
appropriate in individual cases, taking into account all relevant aspects of the respective
circumstances.
Bonn, December 30, 2022
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.
