For Henkel, good corporate governance means responsible, transparent management and control aligned to the long-term generation of shareholder value. Within this context, the Management Board, Shareholders’ Committee and Supervisory Board have committed themselves to the following maxims:

• Value creation as the foundation of our managerial approach
• Sustainability as a criterion for responsible management
• Transparency underpinned by an active and open information policy

Notwithstanding the above-mentioned special features, Henkel KGaA complies with the main recommendations (“shall” provisions) of the German Corporate Governance Code, with one exception: in order to protect the legitimate interests and private spheres of the members of the Henkel family, their individual shareholdings are not disclosed unless required by priority statutory obligations. The Code requires disclosure of shareholdings in excess of 1 percent.

Further details regarding these special features and the implementation of the Corporate Governance Code are given in the following document.