DECLARATION OF COMPLIANCE WITH THE GERMAN CORPORATE GOVERNANCE CODE ISSUED FOR THE 2018 FISCAL YEAR BY THE MANAGEMENT BOARD AND SUPERVISORY BOARD OF INFINEON TECHNOLOGIES AG IN ACCORDANCE WITH SECTION 161 AKTG
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- The Declaration of Compliance issued in November 2017 was updated in February 2018 in view of the Supervisory Board's decision, taken at its meeting on 22 February 2018, to elect the Chairman of the Investment, Finance and Audit Committee, Dr. Eckart Sünner, also to the position of the Chairman of the Supervisory Board. The Management Board and Supervisory Board accordingly have declared a deviation from section 5.3.2, paragraph 3, sentence 3 of the German Corporate Governance Code, according to which the Chairman of the Supervisory Board should not chair the Audit Committee.
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- Since submitting the most recent Declaration of Compliance in November 2017 and February 2018 respectively, Infineon Technologies AG has complied with all recommendations of the German Corporate Governance Code in the version dated 7 February 2017 and will continue to do so, with the exception of the deviation from section 5.3.2, paragraph 3, sentence 3 of the German Corporate Governance Code referred to above in point 1. The rationale for the deviation remains unchanged: Due to his many years of service in the Audit Committees of Infineon and another listed company, Dr. Sünner qualifies as an independent financial expert within the meaning of section 100, paragraph 5, of the German Stock Corporation Act (AktG). His outstanding financial expertise is complemented by extensive knowledge of taxation, law and compliance. Against this background, it is in the interest of the Company for Dr. Sünner to continue chairing the Audit Committee.
Neubiberg, November 2018
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On behalf of the Supervisory Board of Infineon Technologies AG:
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Dr. Eckart Sünner (Chairman of the Supervisory Board)
The Management Board of Infineon Technologies AG:
Dr. Reinhard Ploss Dominik Asam (Chairman of the Management Board)
Dr. Helmut Gassel Jochen Hanebeck