Remuneration of the Individual Executive Board Members in 2025

The tables below show the individual remuneration of the serving members of the Executive Board in 2025.

Target Remuneration and Adjustments 2025

The tables show the targets along with the achievable minimum and maximum figures, which correspond to “benefits granted” (“gewährte Zuwendungen”) within the meaning of the remuneration tables of the German Corporate Governance Code in the version dated February 7, 2017 (“2017 Code”).

The amount of target remuneration was reviewed by the Supervisory Board in its meetings on November 29, 2024, and at the beginning of the 2025 financial year, and adjusted/increased with effect from 2025, primarily with respect to the long-term variable remuneration. The review and adjustment was also carried out in connection with the reappointment of the Chairman of the Executive Board and other members of the Executive Board. In this respect, the Supervisory Board decided, after due consideration, that the respective adjustment is in the interest of the company and is appropriate to ensure competitive remuneration in line with standard market practice. In doing so, the Supervisory Board took into account both the extraordinarily successful business development of the preceding years and the successful implementation of the “Win with Care” strategy up to that point, which was also reflected in the development of the share price, as well as the performance and increased scope of tasks and responsibilities of the Executive Board in an increasingly complex business environment. With regard to the Chairman of the Executive Board, it was also taken into account that, from the Supervisory Board’s point of view, the target remuneration in the first years of his term of office as Chairman was initially below the long-term target level and therefore should be adjusted now. Moreover, the increase of target remuneration for the LTP is intended to provide a greater incentive for continued implementation of the business strategy and thus long-term and sustainable value generation for the company.

The market conformity of the adjusted target remuneration was reviewed by an external remuneration consultant and the appropriateness confirmed by the Supervisory Board on this basis. The adjusted remuneration amount in each case can be found in the tables below by comparing the target remuneration (base and variable remuneration) of the previous year with the target remuneration for the reporting year.

For the regular or rolling LTP, the target values shown include the full value of the “LTP 2025” annual tranche allocated in the reporting year as annual target remuneration, regardless of the respective term or evaluation period. For the additional “LTP 2025-2029” LTP tranche, a prorated annual value is reported as annual target remuneration; the total target remuneration from this LTP tranche is distributed accordingly across the entire term from 2025 to 2029.

Remuneration Granted and Owed

The tables also show the remuneration granted and owed in the financial year within the meaning of § 162 (1) sentence 1 AktG. Remuneration is reported as having been “granted” (“gewährt”) in the financial year if the (one-year or multi-year) evaluation period has ended, even if it is not received (i.e., paid out) until the following financial year. Remuneration “owed” (“geschuldet”) is remuneration that is due but has not (yet) been received. Disclosing remuneration ensures clearer, more transparent reporting and comparability of performance, corporate development, and remuneration during the reporting period. In particular, the Annual Bonus granted in a financial year can be compared against the results of operations for that financial year. This corresponds to “benefits received” (“Zufluss”) within the meaning of the 2017 Code.

On this basis, remuneration granted and owed in the table below includes, in addition to base remuneration and ancillary benefits for financial year 2025, the 2025 Annual Bonus, for which the measurement period ended on December 31, 2025, and which will be paid out after the 2026 Annual General Meeting. By contrast, the long-term variable remuneration components (LTP) allocated for 2025 are not reported as granted and owed in the reporting year given that their evaluation periods are still ongoing.

Relative Shares and Maximum Remuneration

The table below also shows the relative shares of fixed and variable remuneration. These shares also relate to the remuneration granted and owed in the relevant financial year within the meaning of § 162 (1) sentence 1 AktG. Therefore, they are not comparable with the relative shares in the description of the remuneration system in accordance with § 87a (1) no. 3 AktG, which refer to the respective targets or, in the case of long-term variable remuneration, to the annual target values on a prorated basis (see “Remuneration Structure and Elements” above).

The tables also compare the maximum remuneration set by the remuneration system with the remuneration granted and owed in the reporting year. In accordance with § 162 (1) sentence 2 no. 7 AktG, it is explained that the maximum remuneration was adhered to for each member in 2025. A conclusive presentation based on the remuneration allocated each financial year will not be possible until the future financial years in which the long-term variable remuneration is granted and owed.

Remuneration Granted and Owed to Serving Executive Board Members in Accordance With § 162 (1) AktG (in € thousand)

For 2025, the remuneration granted and owed pursuant to § 162 (1) AktG to all serving Executive Board members in the reporting year amounted to €12,031 thousand (previous year: €50,107 thousand). Of this total, fixed remuneration accounted for €5,850 thousand (previous year: €5,400 thousand), ancillary benefits for €4,975 thousand (previous year: €3,036 thousand), the short-term Annual Bonus for €1,206 thousand (previous year: €2,379 thousand), and the LTP for €0 thousand (previous year: €39,292 thousand). The ratio of fixed to variable remuneration is therefore 90.0% to 10.0% (previous year: 16.8% to 83.2%).

Beyond the statutory requirements of § 162 (1) sentence 1 AktG, the report shows the total remuneration offered for the financial year 2025, including the annual allotments of LTP tranches in the form of additions to the provisions, regardless of whether these were granted and owed in the reporting year. This corresponds to recognition as expenses in accordance with the IFRSs. Total remuneration recognized as expenses pursuant to the IFRSs for all serving members of the Executive Board amounted to €24,555 thousand in 2025 (previous year: €23,609 thousand). Of this total, the short-term remuneration, including base remuneration, ancillary benefits and the Annual Bonus, accounted for €11,681 thousand (previous year: €11,115 thousand) and the long-term variable remuneration LTP for €12,874 thousand (previous year: €12,494 thousand). Provisions for the LTP amounted to €12,874 thousand as of the balance sheet date.

Former Executive Board members

The table below shows the fixed and variable remuneration components granted and owed in 2025 to former Executive Board members in accordance with § 162 AktG and their relative share of total remuneration. For the sake of clarity, the amounts are shown as relating to the entire reporting year, even if (depending on the individual case) the appointment of the relevant Executive Board member was terminated during the year and prior to the regular expiry of their service agreement. In accordance with § 162 (5) AktG, personal remuneration is reported until the expiry of ten years after the end of the financial year in which the Executive Board member concerned terminated their activity. For Executive Board members who left longer ago, a total figure is reported. No remuneration was granted and owed in 2025 to any Executive Board member whose activities ended less than 10 years ago.

A total of €32,723 thousand (previous year: €35,073 thousand; amount adjusted to § 285 no. 9b Handelsgesetzbuch (German Commercial Code, HGB) has been accrued for pension obligations to former members of the Executive Board and their surviving dependents. As of 2007, newly concluded employment contracts no longer contain any corresponding pension commitments.

Commitments for Executive Board members stepping down in 2025

Patrick Rasquinet, who left the Executive Board at the end of his service agreement as of June 30, 2025, received all contractually agreed benefits until June 30, 2025. Patrick Rasquinet has been available to the company, in particular to La Prairie, in an advisory capacity for a transitional period with a noncompete clause since June 30, 2025. Additional noncompete compensation is not owed.

Where necessary, the commitments described above are also reported for Patrick Rasquinet in the table on remuneration of the individual Executive Board Members.