Report by the Executive Board on Dealings Among Group Companies

In accordance with § 312 AktG, the Executive Board has issued a Report on Dealings among Group Companies that contains the following concluding declaration:

“Based on the circumstances of which we were aware at the time transactions were executed or measures were taken or not taken, Beiersdorf Aktiengesellschaft received appropriate consideration for every transaction and has not been disadvantaged by the fact that measures were taken or not taken.”