This code sets forth significant legal regulations for the management and oversight of German publicly listed companies and contains both nationally and internationally recognized standards of good and responsible corporate management. It is also designed to promote the trust and confidence of domestic and international investors, clients, employees and the public in the managing and supervision of German public stock corporations.

Through its commitment, Managing Board and Supervisory Board wants to clearly demonstrate how they intend to exercise responsible corporate leadership and control that is geared toward increasing the value for its stakeholders. Doing so will encourage and enhance the trust and confidence of current and future shareholders, customers, employees and other interested parties from the general public.

This commitment to the German Code of Corporate Governance operates on the principle of “comply or explain”. Basler AG will issue a statement every year outlining the extent to which corporate management is in compliance with the code’s provisions. Any deviation from the code will be appropriately explained and justified. The implementation of the code is also a verifiable component of the annual audit and therefore an integral part of the management report.