Conflicts of interest

The Supervisory Board members who are also members of the Piëch or Porsche families or were involved in the transaction in a governing body of Porsche Automobil Holding SE or Dr. Ing. h.c. F. Porsche AG did not participate in the discussions and resolutions of the Supervisory Board regarding the IPO of Dr. Ing. h.c. F. Porsche AG and the sale of 25% plus one ordinary share of Dr. Ing. h.c. F. Porsche AG to Porsche Automobil Holding SE. These Supervisory Board members had already indicated a possible conflict of interest before the Supervisory Board first discussed the plans for and implementation of the IPO and sale of ordinary shares. This was because the financial interests of Porsche Automobil Holding SE and Dr. Ing. h.c. F. Porsche AG, and indirectly those of the Piëch and Porsche families, may potentially have been affected by the matter concerned. This affected Dr. Kiesling, Dr. Piëch, Mr. Pötsch, Dr. Ferdinand Oliver Porsche, Dr. Wolfgang Porsche and Mr. Weresch. Ms. Heiß instead indicated that she would not participate in discussions or resolutions of the Supervisory Board of Porsche Automobil Holding SE, of which she is also a member, where these related to the plans for and implementation of the IPO and sale of ordinary shares. In early September 2022, when Qatar Holding was considering entering into an agreement with Volkswagen AG, Dr. Ing. h.c. F. Porsche AG and Porsche Holding Stuttgart GmbH as a cornerstone investor in relation to the preferred shares in Dr. Ing. h.c. F. Porsche AG, Dr. Al Jaber and Mr. Al-Mahmoud also indicated that they had a possible conflict of interest in connection with the plans for and implementation of the IPO and sale of ordinary shares and did not participate in the further discussions and resolutions of the Supervisory Board regarding the IPO and sale of ordinary shares. This particularly also involved the discussions and resolutions of the Supervisory Board regarding the conclusion of the cornerstone investor agreement with Qatar Holding.

As a precaution, Mr. Pötsch and Ms. Cavallo abstained from the resolutions of the Supervisory Board on September 30, 2022 concerning the way forward with regard to the business activities of Scania and MAN in Russia, which also involved the sale of equity investments by TRATON SE to Volkswagen AG. Mr. Pötsch and Ms. Cavallo are also members of the Supervisory Board of TRATON SE and had already discussed the relevant measures in the TRATON SE Supervisory Board.

No other conflicts of interest were reported or were discernible in the reporting period.