Fixed blackout periods

Members of the Board of Directors and the Corporate Executive Committee and all members of senior and middle management as well as employees involved in preparing of the financial reporting are required to observe the prohibition on trading during the fixed blackout periods.

The fixed blackout periods in connection with the preparation of the regular financial reporting generally last:

• for the annual results: from 1 January to the first trading day following publication;
• for the half-year results: from 1 July to the first trading day following publication;
• for the sales update: from 1 May respectively 1 October to the first trading day following publication.