35. Related Party Disclosures – Entities

Since March 30, 2004, maxingvest GmbH & Co. KGaA has held more than 50% of Beiersdorf Aktiengesellschaft’s share capital. Accordingly, Beiersdorf Aktiengesellschaft is a dependent company within the meaning of § 312 (1) sentence 1 in conjunction with § 17 (2) AktG. Since no control agreement exists between Beiersdorf Aktiengesellschaft and maxingvest GmbH & Co. KGaA, the Executive Board of Beiersdorf Aktiengesellschaft prepares a report on dealings among Group companies in accordance with § 312 (1) sentence 1 AktG. In fiscal year 2023, as in the previous year, Beiersdorf Aktiengesellschaft and its affiliated companies as well as maxingvest GmbH & Co. KGaA and its affiliated companies pooled purchase volumes to achieve cost benefits and sourced products and services from each other at standard market terms to an extent that is not material. There was also limited collaboration in various areas.