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Report of the
Supervisory Board

Report of the Supervisory Board

Ladies and Gentlemen,

Amprion GmbH can look back on a very successful financial year 2019. The company worked intensively to implement its legal mandate to convert and expand the transmission grid in keeping with demand. The progress achieved in expanding the grid is tangible: important projects entered the final approval phase last year, including Wullenstetten – Niederwangen, Kriftel – Farbwerke Höchst Süd or sections of Wesel/Niederrhein – Osterath and Kühmoos – Maximiliansau. In 2019, Amprion made important progress in defining converter locations for the A-North and Ultranet direct current links. The projects were accompanied by extensive communication. While construction is underway in many areas, 2019 also saw the completion of important nodes in the transmission grid: the substation in Kriftel, where the most high-performance hybrid plant for reactive power compensation in Europe has entered operation, deserves a special mention. It plays a vital role in stabilising the European power grid and securing the power supply in the Rhine-Main region.

The Supervisory Board followed the company’s development in the 2019 financial year. The Board fulfilled the tasks for which it is responsible according to the law and the articles of association and, in particular, performed its supervisory and advisory functions vis-à-vis the management. To do this, it was provided with written and oral information by the managing directors concerning the course of business, fundamental issues of business policy and the situation and development of the company, discussed significant business transactions with the management in detail and took the necessary decisions. In addition, the Chairman of the Supervisory Board also discussed important individual processes with the managing directors outside of the Supervisory Board sessions and debated issues of corporate strategy and business policy in preparation for the committee meetings. The audit committee also fulfilled the tasks incumbent upon it under the articles of association and, in particular, prepared extensively for the adoption of the annual financial statements by the Supervisory Board.

Four Supervisory Board meetings were conducted during the reporting period. Discussions focused on detailed reporting by the managing directors concerning the company’s position, including the development of sales and earnings and the company’s strategic goals. Long-term investment planning up to 2029 was also discussed in detail and approved by the Supervisory Board. Based on this, the Supervisory Board intensively discussed the submitted long-term financial plan, particularly in terms of the coverage of funding requirements – with the financing tasks, some of which were challenging, on the time axis – and approved it for the relevant time periods. The Supervisory Board additionally dealt with the company’s regulatory environment as well as the forthcoming or implemented changes to the legal framework.

During its meeting on 26 November 2019, the Supervisory Board resolved to extend the Management Board due to growth in tasks in the financial area. Mr Peter Rüth will take over these tasks in the Management Board as of 1 April 2020. At this point in time, the Supervisory Board entrusted the chairmanship of the Management Board to Dr Hans-Jürgen Brick.

BDO AG, Wirtschaftsprüfungsgesellschaft Düsseldorf, the auditor chosen by a resolution of the shareholders on 30 April 2019 and commissioned by the company’s Supervisory Board to undertake the audit, has audited the annual financial statements and the management report of Amprion GmbH for the 2019 financial year, including the accounting, and has issued an unqualified auditor’s opinion.

The auditor’s report, the annual financial statements and the management report were handed over to the members of the Supervisory Board in good time prior to the Supervisory Board meeting on 7 April 2020 and were discussed extensively during the meeting. The auditor participated in the Supervisory Board’s discussions and reported on the material results of his audit. He was also available to provide supplementary information. The Supervisory Board approved the result of the audit. It in turn reviewed the annual financial statements and management report prepared by the management. No objections are to be raised according to the concluding result of its review. The Supervisory Board has approved the management report and the annual financial statements for the 2019 financial year; the annual financial statements are therefore adopted.

The following personnel changes took place in the Supervisory Board during the 2019 financial year:

Supervisory Board member Mr Frank Amberg resigned from his office as a member of the Supervisory Board of Amprion GmbH with effect from 30 April 2019. By shareholder resolution of 30 April 2019, Mr Robert Pottmann, Head of Portfolio Management Illiquid Assets at MEAG MUNICH ERGO AssetManagement GmbH, Munich, was elected as a member of the Supervisory Board of Amprion GmbH with effect from 1 May 2019.

The mandate of the Supervisory Board members appointed on behalf of the employees, Mr Josef Frankemölle and Mr Malte Glasneck, ended with the announcement of the employee representative election results pursuant to the German One-Third Employee Participation Act (DrittelbG), as these members no longer stood for re-election. By election on 19 February 2019 pursuant to DrittelbG, Ms Nerima Uzeirovic and Mr Wolfgang Hölzle became new members of the Supervisory Board appointed on behalf of the employees.

The Supervisory Board would like to express its thanks and appreciation to the management and all employees of Amprion GmbH for their work during the 2019 financial year.

Dortmund, 7 April 2020

Prof. Heinz-Werner Ufer

Chairman of the Supervisory Board