Corporate Bodies

ProSiebenSat.1 Media AG is a stock exchange-listed company with its registered head office in Unterföhring, near Munich. A stock corporation organized under German law has three main corporate bodies:

Executive Board

Supervisory Board

Annual General Meeting.

The governing bodies' decision-making powers are strictly demarcated from each other:

The basic rules for this dual management system are defined in ProSiebenSat.1 Media AG's articles of incorporation and in the rules of procedure for the Executive Board and Supervisory Board.

In order to facilitate a stronger international alignment of the digital business, ProSiebenSat.1 Media AG announced on October 15, 2014, that it intends to change its legal form to a European Company (Societas Europaea/SE). The conversion will not affect the rights of the employees and the shareholders. The entity will continue to operate with a dualistic system consisting of the Executive Board and the Supervisory Board. The Annual General Meeting on May 21, 2015, is to decide on the change in legal form to a SE. The completition of the conversion is planned for the summer of 2015. As a result, shareholders of ProSiebenSat.1 Media AG will automatically become shareholders in the future ProSiebenSat.1 Media SE. The listing of the Company's shares will remain unaffected by this measure; the Company's registered office will continue to be in Unterföhring near Munich.