Outlook

METRO AG is preparing the demerger of METRO GROUP into two independent, exchange-listed companies focusing on the business segments Wholesale & Food Specialist and Consumer Electronics, respectively. The demerger is planned to become effective in mid-2017 and thus over the course of financial year 2016/17. The current remuneration system for members of the Management Board therefore does not reflect the planned demerger of METRO GROUP. Against this background, new Management Board remuneration systems for both new entities are currently being developed. These will be geared specifically to the respective business activities. These remuneration systems will be introduced as of the effective date of the demerger. In this context, the Supervisory Board passed a resolution on the treatment of the short-term incentive in financial year 2016/17 until the time the demerger becomes effective. It will also decide how to handle the already granted tranches of the long-term incentive.