Declaration in accordance with Section 161 of the German Public Companies Act

In accordance with Section 161 of the German Public Companies Act, the Management and Supervisory Boards of listed companies are required to publish an annual declaration in which they indicate the extent to which their management and oversight system complies with or deviates from the recommendations of the German Corporate Governance Code. Our aim is to conform to the Code as fully as possible even as a non-listed company. In December 2015, the Management Board and the Supervisory Board of HSH Nordbank therefore voluntarily issued a Declaration of Conformity with the GCGC in which the deviations from the Code recommendations were disclosed.