50. Management Board and Supervisory Board

Compensation of members of the Management Board in the short financial year 2013

Remuneration of the active members of the Management Board essentially consists of a fixed salary, performance-based entitlements (short-term incentive) as well as the share-based payments (long-term incentive) granted in the short financial year 2013.

The amount of the performance-based remuneration for members of the Management Board essentially depends on the development of net earnings and the return on capital employed (RoCE) and also considers the attainment of individually set targets. The use of the key ratio net earnings combined with RoCE rewards profitable growth of METRO GROUP. The calculation of performance-based remuneration during the short financial year 2013 is based on a full annual cycle (1 January 2013 to 31 December 2013). The payments calculated on this basis will be proportionally reduced to the nine-month short financial year.

Remuneration of the active members of the Management Board in the short financial year 2013 amounted to €8.6 million (12M 2012: €9.3 million). This includes €2.6 million (12M 2012: €3.8 million) in fixed salaries, €0.2 million (12M 2012: €0.5 million) in performance-based entitlements, €5.6 million (12M 2012: €4.5 million) in share-based payments and €0.2 million (12M 2012: €0.5 million) in other remuneration.

Share-based payments granted in the short financial year 2013 (performance shares) are posted at fair value at the time of granting. In the short financial year 2013, value changes resulted from the current tranches of share-based remuneration programmes. The company’s expenses amounted to €0.644 million for Mr Koch, €0.391 million for Mr Frese, €0.221 million for Mr Haas, €0.398 million for Mr Hutmacher and €0.523 million for Mr Muller.

The members of the Management Board received 248,688 performance shares.

Other remuneration consists of non-cash benefits.

Total compensation of former members of the Management Board

Former members of the Management Boards of METRO AG and the companies that were merged into METRO AG as well as their surviving dependants received €7.0 million (12M 2012: €8.3 million). The present value of provisions for current pensions and pension entitlements made for this group amounts to €54.1 million (31/12/2012: €55.1 million).

The information released pursuant to § 314 Section 1 No. 6 a Sentence 5 to 9 of the German Commercial Code can be found in the extensive remuneration report in chapter 9 of the combined management report.

Compensation of members of the Supervisory Board

The total remuneration of all members of the Supervisory Board in the short financial year 2013 amounted to €1.4 million (12M 2012: €1.7 million).

Additional information on the remuneration of members of the Supervisory Board can be found in the extensive remuneration report in chapter 9 of the combined management report.