Corporate Governance

Declaration of PSI Software AG in accordance with Article 161 of the German Stock Corporation Act (Aktiengesetz - AktG)

The Board of Directors and Supervisory Board of PSI Software AG declare pursuant to Article 161 of the German Stock Corporation Act:

PSI Software AG has complied with the recommendations of the Government Commission on the German Corporate Governance Code in the version dated December 16, 2019, since publication and until May 19, 2021, with the exceptions stated in the declaration of December 18, 2020.

Based on the resolutions of the Annual General Meeting on May 19, 2021, PSI Software AG has since complied with the recommendations of the Government Commission on the German Corporate Governance Code in the version dated December 16, 2019, with the following exceptions:

• Recommendation B.5: To date, no age limit has been set for members of the Board of Directors and stated in the corporate governance declaration.
• Recommendation D.5: The Supervisory Board has not formed a Nomination Committee, as all four shareholders’ representatives on the Supervisory Board are involved in nominating candidates for voting at the Annual General Meeting.
• Recommendation G.3: The Supervisory Board considered the customary nature of the compensation in light of the external comparative environment, but the composition of the group of other companies used for the peer group comparison was not disclosed.
• Recommendation G.10: The variable compensation components are granted entirely in cash; a stock option program was dispensed with for reasons of simplification.

Board of Directors and Supervisory Board
Berlin, December 20, 2021