Declaration of Compliance

The Executive Board and Supervisory Board of ProSiebenSat.1 devote considerable attention to the recommendations and suggestions of the German Corporate Governance Code. They have developed an implementation approach that is appropriate for the company’s specific circumstances.

Latest Declaration of Compliance

The Executive Board and Supervisory Board of a corporation listed on a stock exchange in Germany are legally required (Section 161 AktG) to issue an annual declaration stating whether their company has conformed and will conform with the German Corporate Governance Code (the "Code") in its latest valid version. The Executive Board and Supervisory Board of ProSiebenSat.1 Media AG issued the latest Declaration of Compliance pursuant to Section 161 AktG in March 2014.

The Corporate Governance Code contains provisions with different degrees of binding force. In addition to provisions that reflect the currently valid law of stock corporations, it also contains recommendations (so-called "directory" provisions), which companies are at liberty not to follow. Any such exceptions to the recommendations contained in the Code must be disclosed and the reasons for non-conformity must be stated in the annual Declaration of Compliance.