Remuneration report

The following report describes the remuneration received by the Management Board and the Supervisory Board of METRO AG for financial year 2015/16 in accordance with standards laid down by the German Commercial Code (HGB) and the German Corporate Governance Code. In addition, this report outlines the remuneration systems and contains information about share-based compensation for executives of METRO GROUP.

The remuneration system for the Management Board is approved by the Supervisory Board of METRO AG and is prepared by its Personnel Committee. The Annual General Meeting on 20 February 2015 approved the remuneration system, which is unchanged from the previous year, with 99.6 per cent of the votes cast. The following is a description of how the system works.