Report of the Chairman of the
Board of Trustees

Ladies and Gentlemen,

The Board of Trustees of the RAG-Stiftung duly performed the duties incumbent upon it under the articles of association with great commitment in the 2023 financial year.

The 13 members of the Board of Trustees discussed the situation and the concerns of the foundation in its in-person meetings on 3 May and 27 November 2023 in depth. They included resolutions on the consolidated and annual financial statements for 2022, and approval of the economic plan for 2024 and of the budget for education, science and culture for the financial years 2025 through 2027.

Resolutions were also adopted on the reappointment of one member of the Board of Executives, the discharge of the Board of Executives, achievement of the objectives for 2022, and the agreement of goals for the members of the Board of Executives for 2024. In addition, the granting of general commercial power of representation to two foundation employees was approved. An additional budget for RAG-Stiftung to issue what is now the seventh exchangeable bond on Evonik shares was also approved as part of a circular resolution.

The Board of Executives of the foundation informed the Board of Trustees in detail about all current and relevant developments at the RAG-Stiftung during the meetings as well as via quarterly reports. One focus of the reporting was again the diversified investments and the continued progress of the assets, as well as the strategic holdings Evonik Industries AG, RAG Aktiengesellschaft, Vivawest GmbH and RSBG SE. The Board of Trustees also received reports on the real estate investments, in particular that relating to Signa. Additionally, the Board of Executives presented the record of success of the support projects in the areas of education, science and culture. A focus of that was on the special lighthouse projects along the entire education chain as well as post-mining research in the field of science.

The Board of Executives also provided information on fundamental issues related to corporate governance and compliance structures in the Foundation Group. There were no changes on the Board of Trustees over the course of the year.

Armin Laschet
Chairman of the Board of Trustees of the RAG-Stiftung