Report of the Supervisory Board

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Dr. Manfred Bischoff, Chairman of the Supervisory Board

Dear Shareholders, Mobility and the automotive industry are changing fundamentally. The three main technological areas of activity – electrification, automation and connectivity – are accompanied by new mobility services, regulations for decarbonization and traffic reduction, and global trade conflicts. Daimler aims to shape this transformation in a sustainable manner and to assume social, economic and environmental responsibility. With a consistent commitment to CO2-neutral mobility, the company is setting the course for a successful future.

Supervisory and advisory activities of the Supervisory Board

The Supervisory Board of Daimler AG fully performed its tasks as defined by the law, the Company’s Articles of Incorporation and its own rules of procedure once again in the year 2019. The Supervisory Board continually advised and supervised the Board of Management in the management of the Company and provided support with strategically important issues relating to the Group’s further development.

The Supervisory Board examined whether the annual company and consolidated financial statements, the combined management report and other financial reporting, as well as the non-financial report for Daimler AG and the Daimler Group, were in conformance with the applicable requirements.

In addition, it approved numerous business matters for which its consent was required following careful reviews and consultations. As well as the finance and investment planning, this also included cooperation plans, major equity measures at companies of the Group, associated companies and joint ventures, and the conclusion of contracts with particular importance for the Group. The Board of Management informed the Supervisory Board about a large number of further measures and business transactions, and discussed them with it intensively and in detail, such as the measures for implementation of the new, sustainable business strategy including “Ambition 2039,” in which the Group expresses its commitment to CO2-neutral mobility. Finally, the Board of Management regularly reported to the Supervisory Board on the current status of implementation of “Project Future” for the further development of the corporate structure at Daimler.

The Board of Management regularly informed the Supervisory Board about all significant economic developments of the Group and the divisions. It continually provided information to it on all fundamental questions of corporate planning, including finance, investment, sales and personnel planning, current developments at the companies of the Group, the development of revenue, the situation of the Company and the divisions, and the economic and political environment, as well as on the current status and assessment of significant legal proceedings. Furthermore, the Board of Management reported to the Supervisory Board continually on return on equity and the Group’s liquidity situation, the development of sales and procurement markets, the overall economic situation, and developments in the capital markets and the area of financial services. Additional topics included the further development of the product portfolio, securing the Group’s long-term competitiveness, and the ongoing implementation of measures for safeguarding sustainable and future-oriented mobility. The Supervisory Board also dealt in detail with the shareholder structure, the development of the share price and the related background, and the expected impact of strategic projects on the share price.

Working culture and areas of Supervisory Board activity

In the year 2019, the Supervisory Board convened for eight meetings. Participation in the meetings by the members of the Supervisory Board was at a high level once again. During the year under review, all members of the Supervisory Board participated in significantly more than half of the meetings of the Supervisory Board and of its committees of which they are members. The work of the Supervisory Board featured open and intensive exchanges of information and opinions. The members of the Supervisory Board regularly prepared for upcoming resolutions with the aid of documentation provided in advance by the Board of Management. Furthermore, the members representing the employees and the members representing the shareholders regularly prepared the Supervisory Board meetings in separate discussions, which were also attended by members of the Board of Management. The Supervisory Board was also intensively supported by its committees. In the meetings of the Supervisory Board, its members discussed the measures and business matters to be decided upon in detail with the Board of Management. Executive sessions were regularly arranged for the meetings so that topics could be discussed also in the absence of the Board of Management.

Outside the regular meetings, the Supervisory Board was informed about special events. In addition, the members of the Supervisory Board and of the Board of Management came together for bilateral exchanges of opinions. The Board of Management informed the Supervisory Board also with written reports about the most important indicators of business development and existing risks.

The members of the Supervisory Board independently attend such courses of training and further training regarded as necessary for the performance of their tasks, relating for example to changes in the legal framework and new, future-oriented technologies, in which they are supported by the Company. In a special onboarding program, new members of the Supervisory Board have the opportunity to meet the members of the Board of Management and senior executives with specialist responsibility for a bilateral exchange of opinions and information on fundamental and current topics of the various Board of Management areas, allowing them to gain an overview of the topics relevant to the Daimler Group and of its governance structure.

In its meeting on February 5, 2019, which was attended by the external auditors, the Supervisory Board discussed, took note of and approved the preliminary key figures of the annual company and consolidated financial statements for 2018 and the dividend proposal to be made at the 2019 Annual Shareholders’ Meeting. The Supervisory Board determined that no objections were to be raised to their publication. The preliminary key figures for the year 2018 and the proposal on the appropriation of profit were announced at the Annual Press Conference on February 6, 2019.

In the Supervisory Board meeting held on February 13, 2019, the Supervisory Board decided to appoint Harald Wilhelm as a member of the Board of Management of Daimler AG for a period of three years as of April 1, 2019. Bodo Uebber stepped down from the Board of Management of Daimler AG with effect as of the end of the 2019 Annual Shareholders’ Meeting. At that time, Harald Wilhelm took over Board of Management responsibility for “Finance & Controlling/Daimler Financial Services,” which is now called “Finance & Controlling/Daimler Mobility” in line with the renaming of “Daimler Financial Services” as “Daimler Mobility.” Furthermore, the Supervisory Board decided to reappoint Britta Seeger as a member of the Board of Management of Daimler AG with responsibility for “Mercedes-Benz Cars Marketing and Sales for a further five years as of January 1, 2020. Subsequently, it dealt with the annual company financial statements, the annual consolidated financial statements and the combined management report for Daimler AG and the Daimler Group for the year 2018, each of which had been issued with an unqualified audit opinion by the external auditors, as well as with the reports of the Audit Committee and the Supervisory Board, the declaration on corporate governance combined with the corporate governance report, the remuneration report, the nonfinancial report, which was issued with the independent auditor’s limited assurance in accordance with ISAE 3000, and the proposal on the appropriation of profit. In preparation, the members of the Supervisory Board had been provided with comprehensive documentation.

The Audit Committee and the Supervisory Board dealt with those documents in detail and discussed them intensively in the presence of the independent auditors. The independent auditors reported on the results of their audit and on the key audit matters and the respective audit procedure including the conclusions drawn, as well as on the voluntary review of the non-financial report within the framework of a limited assurance engagement, and were available to answer questions and to provide further information. Following the final results of the review by the Audit Committee and its own review, the Supervisory Board declared its agreement with the results of the audit carried out by the external auditors. It determined that no objections were to be raised, approved the financial statements and the combined management report as presented by the Board of Management, and thus adopted the financial statements of Daimler AG for the year 2018. On this basis, the Supervisory Board consented to the proposal made by the Board of Management on the appropriation of distributable profit. In addition, the Supervisory Board approved the non-financial report, the report of the Supervisory Board, the corporate government statement combined with the corporate governance report, and the remuneration report.

Also in its meeting on February 13, 2019, the Supervisory Board discussed the results of the efficiency review carried out in 2018, which once again confirm the professional, very good and very trusting cooperation within the Supervisory Board and with the Board of Management. There was no fundamental need for change, but individual suggestions were made and implemented. The Supervisory Board also dealt with matters pertaining to the remuneration of the members of the Board of Management and, in connection with the item of the agenda on corporate governance, approved the memberships of other boards and further external secondary activities of the members of the Board of Management that were presented in the meeting. In addition, the Supervisory Board discussed the status of the spin-off documentation required to strengthen the divisional structure by forming legally independent entities in the context of “Project Future.” Finally, the Supervisory Board received detailed reports on current legal issues, among other things with regard to the antitrust proceedings of the European Commission against three German car manufacturers concerning possible restrictions of competition with exhaust-gas cleaning technologies, as well as with regard to requests for information, inquiries, investigations, administrative orders and proceedings relating to diesel exhaust emissions.

In its meeting on March 22, 2019, the Supervisory Board approved a number of measures for which its consent was required. These included in particular a cooperation project between Zhejiang Geely Holding Group (Geely Holding) and Daimler to further develop smart as a leading brand for electric mobility, as well as the acquisition of a majority interest in the US company Torc Robotics, a pioneer in the field of autonomous driving. Furthermore, the Supervisory Board again dealt in detail with the spin-off documentation for “Project Future” that was to be submitted to the Annual Shareholders’ Meeting and was informed about the further development of the Group-wide code of conduct in the context of an integrity update. Finally, the Supervisory Board approved its proposed resolutions on the items of the agenda for the 2019 Annual Shareholders’ Meeting.

The Supervisory Board convened for another meeting in late April 2019. One focus of this meeting was dealing with the sustainable business strategy, in particular “Ambition 2039”, which was presented by the Board of Management. The Supervisory Board was also informed about the status of the HERE cooperation and the battery-cell strategy. Finally, the Supervisory Board also dealt with current legal issues and with compliance measures in this context, especially relating to the requests for information, inquiries, investigations, administrative orders and proceedings relating to diesel exhaust emissions. In addition, the Supervisory Board was informed about the statement of objections from the European Commission concerning possible restrictions of competition with exhaust-gas cleaning technologies and the results of the ongoing investigation of this case by an independent law firm. It also dealt with the question of whether, in connection with the concluded antitrust investigations of truck manufacturers by the European Commission, claims for compensation were to be made against former or current members of the Board of Management. On the basis of the reviews carried out so far and repeatedly updated by an independent law firm, a further review by an independent legal academic, as well as detailed discussions in the Supervisory Board taking into account the welfare of the Company, the Supervisory Board maintained its previous resolution, based on the information available, that no such claims were to be made at the present time.

At the Annual Shareholders’ Meeting held on May 22, 2019, the candidates proposed by the Supervisory Board, Joe Kaeser and Dr. Bernd Pischetsrieder, were reelected as members of the Supervisory Board representing the shareholders. In the Supervisory Board meeting held straight after the Annual Shareholders’ Meeting, the members of the Supervisory Board representing the shareholders reelected Joe Kaeser as a member of the Audit Committee. Furthermore, the Supervisory Board decided to have a voluntary review conducted of the contents of the 2019 non-financial report by KPMG AG Wirtschaftsprüfungsgesellschaft, Berlin, within the framework of a limited assurance engagement.

In a meeting in late July 2019, the Supervisory Board approved a series of capital measures at Group companies and resolved to amend its rules of procedure for the start of the new corporate structure at the beginning of November 2019. In addition, the Supervisory Board discussed in detail with the Board of Management the course of business and the results of the first half of the year, in which there had been two adjustments of the earnings guidance for the full year. The Supervisory Board also received detailed reports on current legal issues, including requests for information, inquiries, investigations, administrative orders and proceedings relating to diesel exhaust emissions, including the proceedings of the Stuttgart District Attorney's Office. Against the backdrop of the complexity of the emissions- and antitrust related proceedings and with regard to the efficient organization of the Supervisory Board’s work, the Supervisory Board resolved to establish a Supervisory Board Committee for Legal Affairs until further notice. This committee coordinates the exercise of the rights and duties of the Supervisory Board with regard to the aforementioned legal issues, prepares the resolutions of the Supervisory Board and makes appropriate recommendations for resolutions. The committee consists of six members elected by the members of the Supervisory Board by a majority of the votes cast and is composed on a parity basis. The members of the committee elect a committee chairman and a deputy committee chairman from among their number. The chairman of the committee is Dr. Clemens Börsig and its deputy chairman is Michael Brecht. Other members of the committee are Dr. Manfred Bischoff and Marie Wieck as shareholder representatives and Michael Häberle and Sibylle Wankel as employee representatives.

In a subsequent joint meeting of the Supervisory Board and the Advisory Board for Integrity and Corporate Responsibility, the participants discussed the integration of sustainability and integrity into Daimler Group strategy and the day-to-day business.

Strategy meeting of the Supervisory Board

On the first day of the two-day strategy workshop in Sindelfingen at the end of September, after careful and intensive discussion of the relevant aspects and considering the relevant reasons and taking into account the best interests of the Company, and after receiving a positive recommendation for a resolution from the Supervisory Board Committee for Legal Affairs, the Supervisory Board approved the decision of the Board of Management not to appeal against the fine imposed by the Stuttgart District Attorney’s Office on September 24, 2019 for negligent violation of supervisory duties during vehicle certification in connection with deviations from regulatory requirements for certain Mercedes-Benz vehicles. In preparing its decision, the Supervisory Board had obtained an expert opinion from an independent law firm. Both the Supervisory Board and the Management Board are of the opinion that the conclusion of the fine proceedings was in the interest of the Company. In this meeting, the Supervisory Board also approved a capital contribution at the Chinese joint-venture company Beijing Benz Automotive Co, Ltd. for the realization of two vehicle projects.

The focus of the strategy workshop was on the strategies for the period until 2030 of Mercedes-Benz AG, Daimler Truck AG and Daimler Mobility AG, and in particular on the “Move Programs” as a holistic approach for the required transformation, and on the “Move Performance Programs” for the improvement of cost structures. The Supervisory Board discussed in detail the goals and the strategic areas for action of the individual divisions. The Supervisory Board dealt with the electrification of vehicle fleets, the further development of fuel-cell technology and autonomous driving. Various vehicle exhibits were also presented. With the involvement of the executives responsible for the topics presented, the members of the Supervisory Board and the Board of Management discussed in a constructive and open dialog how Daimler will prepare for new challenges and which further developments lie ahead. The changing competitive environment was also discussed. The Supervisory Board also discussed the key financial figures and the targets for the Group and the divisions.

Meeting on operational planning 2020/2021

In the meeting held on December 12, 2019, the Supervisory Board discussed business activities in China, in particular the political and economic aspects of expanding the Group’s presence in China and the significant Chinese investments in our Company. It also dealt with the report of the Board of Management on the development of current acquisitions and cooperations. During the further course of the meeting, on the basis of comprehensive documentation, the Supervisory Board discussed and approved the operational planning for the years 2020 and 2021, and in this context discussed existing opportunities and risks.

Furthermore, the Supervisory Board was informed about current legal issues, also with regard to the requests for information, inquiries, investigations, administrative orders and proceedings relating to diesel exhaust emissions. Once again, it also dealt with the question of whether any claims for compensation were to be made against former or present members of the Board of Management in connection with the concluded antitrust proceedings against truck manufacturers by the European Commission. In addition, the Supervisory Board dealt with the results of the ongoing investigations in connection with the European Commission’s antitrust proceedings concerning possible restrictions of competition with exhaust-gas cleaning technologies. The Supervisory Board decided to discuss the further procedure on the antitrust matters again in February 2020, with due consideration of further developments.

Other subjects discussed at the meeting were matters of corporate governance, in particular the declaration of compliance with the German Corporate Governance Code, and the fulfillment of the qualification profiles for the Board of Management and the Supervisory Board. Furthermore, the Supervisory Board looked ahead to the main topics for the 2020 financial year. Finally, it dealt in this meeting with the further development of the Board of Management remuneration system, on the basis of preparations by the Presidential Committee. Details of the system of Board of Management remuneration and changes to the annual bonus are presented in the »Remuneration Report« of this Annual Report.

Corporate governance and declaration of compliance

During the year 2019, the Supervisory Board was continually occupied with standards of good corporate governance.

In September 2019, the Supervisory Board resolved to update the declaration of compliance with the German Corporate Governance Code due to one of its members taking on another supervisory board position at Mercedes-Benz AG and the resulting exceeding of the maximum number of three supervisory board positions recommended by the Code for members of the boards of management of listed companies. For the purpose of regulating its rules of procedure, which reflect the Code’s recommendation regarding the maximum number of supervisory positions held by members of the boards of management of listed companies, the Supervisory Board has decided, until further notice, not to consider dual positions of members of the Supervisory Board of Daimler AG in other supervisory boards within the Daimler Group. In its meeting in December 2019, the Supervisory Board approved the 2019 declaration of compliance with the German Corporate Governance Code pursuant to Section 161 of the German Stock Corporation Act (AktG). With the exceptions explained there, all recommendations of the Code have been and continue to be complied with.

In accordance with good corporate governance, the members of the Supervisory Board of Daimler AG are obliged to disclose conflicts of interest – especially those that might arise due to an advisory or board function for a customer, supplier or creditor of Daimler, or for other third parties – to the entire Supervisory Board.

There were no indications of any actual conflicts of interest in the year 2019. In order to avoid individual potential conflicts of interest, some members of the Supervisory Board did not participate in discussions of certain items of the agendas in the year 2019. Dr. Bernd Pischetsrieder and Dr. Jürgen Hambrecht left the room during several meetings for the legal status reports, in particular when legal proceedings in connection with diesel exhaust emissions were discussed. As a result, in compliance with the goals of the Supervisory Board, there were no potential conflicts of interest during the year under review for at least half of the members representing the shareholders and for at least 15 members of the entire Supervisory Board.

Law for the equal participation of women and men in management positions

For supervisory boards of listed companies subject to parity codetermination, like that of Daimler AG, the German Stock Corporation Act prescribes a binding gender ratio of at least 30 % women. The ratio is to apply to the entire supervisory board. If the side of the supervisory board representing the shareholders or the side representing the employees objects to the chairman of the supervisory board before the election about the application of the ratio to the entire supervisory board, the minimum ratio is to apply separately to the shareholders’ side and to the employees’ side for that election.

As of December 31, 2019, the shareholders’ side of the Supervisory Board of Daimler AG is composed of 30 % women (the members Sari Baldauf, Petraea Heynike and Marie Wieck) and 70 % men. On the employees’ side, the proportions as of that date are 30 % women (the members Elke Tönjes-Werner, Sibylle Wankel and Dr. Sabine Zimmer) and 70 % men. The Supervisory Board as a whole therefore also fulfills the statutory quota.

In its meeting on February 19, 2020, the Supervisory Board discussed the specific proposals for the candidate to be elected at the 2020 Annual Shareholders’ Meeting and decided, upon the recommendation of the Nomination Committee, to propose at the 2020 Annual Shareholders’ Meeting that, Timotheus Höttges, Chairman of the Board of Management of Deutsche Telekom AG, be elected to the Supervisory Board. If the proposed candidate is elected, the statutory quota for women will remain fulfilled both on the shareholder side and for the Supervisory Board as a whole, provided there are no other changes.

For the composition of the Board of Management, the Supervisory Board set the target in December 2016 of at least 12.5 % women, which is applicable until December 31, 2020. As of December 31, 2019, two women are members of the Board of Management: Renata Jungo Brüngger and Britta Seeger; the proportion of women is therefore 25 % as of that date.

Corporate governance at Daimler is described in detail in the »Declaration on Corporate Governance« combined with the »Corporate Governance Report« report and in the »Remuneration Report« of this Annual Report.

The work of the committees

The Presidential Committee convened in the past financial year for eight meetings, which were partially held in the form of conference calls. It dealt in particular with personnel matters and succession planning for the composition of the Board of Management. In addition, the Presidential Committee dealt with the acceptance by members of the Board of Management of board positions at other companies and institutions, with corporate governance topics and with matters of remuneration. Details of the remuneration of the Board of Management are presented in the »Remuneration Report«.

The Audit Committee met six times in 2019. Details of those meetings are provided in a separate »Report of the Audit Committee«.

The Committee for Legal Affairs held five meetings in 2019, including its inaugural meeting. At these meetings, it received detailed information on legal matters concerning emissions and antitrust law, as well as the related further development of the compliance system, and discussed those matters in the presence of the Supervisory Board’s legal advisors. The Committee regularly reports to the Supervisory Board on its work and in two cases, after discussing and considering the relevant aspects and taking into account the best interests of the Company, made recommendations to the Supervisory Board for resolutions. This concerned, on the one hand, the resolution of the Supervisory Board of September 24, 2019 to approve the decision of the Board of Management not to appeal against the fine imposed by the Stuttgart District Attorney’s Office. On the other hand, it concerned the resolution of the Supervisory Board of December 12, 2019 regarding legal matters relating to antitrust law.

The Nomination Committee convened for one meeting in 2019. The Committee dealt in particular with the recommendation for the Supervisory Board’s proposal to be made at the Annual Shareholders’ Meeting in 2020 on the candidate for election to the Supervisory Board. Among other things, and taking into consideration all circumstances of each individual case, the proposal is oriented towards the Daimler Group’s interests and aims to fulfill the overall qualification profile for the entire Supervisory Board, including expertise profile and diversity concept.

There was no occasion to convene the Mediation Committee during the reporting period.

Changes in the Supervisory Board and the Board of Management

Following the proposal of the Supervisory Board, the Annual Shareholders’ Meeting on May 22, 2019 reelected Joe Kaeser und Dr. Bernd Pischetsrieder as members of the Supervisory Board representing the shareholders for the period until the end of the Annual Shareholders’ Meeting that decides on ratification of board members’ actions for financial year 2023.

In the Supervisory Board meeting on February 13, 2019, Harald Wilhelm was appointed to the Board of Management of Daimler AG for a period of 3 years with effect as of April 1, 2019. Bodo Uebber resigned from the Board of Management of Daimler AG with effect as of the end of the Annual Meeting 2019. At the same time, Harald Wilhelm took over the responsibility for “Finance & Controlling/Daimler Financial Services,” which is now called “Finance & Controlling/Daimler Mobility.” Furthermore, Britta Seeger was reappointed to the Board of Management of Daimler AG as the member responsible for “Mercedes-Benz Cars Marketing and Sales” for a further five years effective as of January 1, 2020.

In accordance with the resolution of the Supervisory Board of September 2018, Ola Källenius was reappointed as the Chairman of the Board of Management, responsible for Mercedes-Benz Cars, for a new period of office of five years starting at the end of the Annual Shareholders’ Meeting on May 22, 2019, after Dr. Dieter Zetsche had resigned as a member of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars in consultation with the Supervisory Board effective at the same time. Also by resolution of the Supervisory Board of September 2018, Markus Schäfer was appointed as successor to Ola Källenius as a member of the Board of Management of Daimler AG with responsibility for “Group Research and Mercedes-Benz Cars Development” starting at the end of the Annual Shareholders’ Meeting on May 22, 2019.

In the Supervisory Board meeting on February 19, 2020, Hubertus Troska was appointed as a member of the Board of Management of Daimler AG with responsibility for “Greater China” for a period of five years effective as of January 1st, 2021. In addition, the members of the Supervisory Board representing the shareholders decided, on the basis of a recommendation by the Nomination Committee, to propose the election to the Supervisory Board of Timotheus Höttges at the Annual Shareholders’ Meeting in 2020.

Audit of the company and consolidated financial statements

The financial statements of Daimler AG and the combined management report for the Company and the Group for 2019 were duly audited by KPMG AG, Wirtschaftsprüfungsgesellschaft, Berlin, and were given an unqualified audit opinion. The same applies to the consolidated financial statements for 2019 prepared according to IFRS. On the basis of a voluntary review of the contents of the non-financial report decided upon by the Supervisory Board, the non-financial report for financial year 2019 was reviewed by KPMG AG Wirtschaftsprüfungsgesellschaft, Berlin, within the framework of a limited assurance engagement and was issued with a limited assurance in accordance with ISAE 3000.

In a meeting held on February 10, 2020 attended by the external auditors, the Supervisory Board discussed, took note of and approved the preliminary key figures of the annual company and consolidated financial statements for 2019 and the proposal on the appropriation of profit to be made at the 2020 Annual Shareholders’ Meeting. The Supervisory Board determined that no objections were to be made to their publication. The preliminary key figures for the year 2019 as well as the proposal on the appropriation of profit were announced at the Annual Press Conference on February 11, 2020.

In the meeting held on February 19, 2020, the Supervisory Board dealt with the annual company financial statements, the annual consolidated financial statements and the combined management report for Daimler AG and the Daimler Group, each of which had been issued with an unqualified audit opinion by the independent auditors, as well as with the reports of the Audit Committee and the Supervisory Board, the corporate government statement combined with the corporate governance report, the remuneration report, the non-financial report issued with a limited assurance in accordance with ISAE 3000, and the proposal on the appropriation of profit. In preparation, the members of the Supervisory Board had been provided with comprehensive documentation including the Annual Report with the consolidated financial statements according to IFRS, the combined management report for Daimler AG and the Daimler Group, the declaration on corporate governance combined with the corporate governance report, the remuneration report, the non-financial report, the annual company financial statements of Daimler AG, the proposal of the Board of Management on the appropriation of profit, the audit reports of KPMG AG Wirtschaftsprüfungsgesellschaft on the annual company financial statements of Daimler AG and the consolidated financial statements, each including the combined management report, and the internal control system, as well as drafts of the reports of the Supervisory Board and of the Audit Committee.

The Audit Committee and the Supervisory Board dealt with those documents in detail and discussed them intensively in the presence of the independent auditors, who reported on the results of their audit and in particular on the key audit matters and the respective audit procedure including the conclusions drawn, as well as on the voluntary review of the non-financial statement within the framework of a limited assurance engagement, and who were available to answer supplementary questions and to provide additional information. Following the final results of the review by the Audit Committee and its own review, the Supervisory Board declared its agreement with the results of the audit by the external auditors. It determined that no objections were to be raised and approved the financial statements and the combined management report as presented by the Board of Management. The company financial statements of Daimler AG for the year 2019 were thereby adopted. On this basis, the Supervisory Board consented to the proposal made by the Board of Management on the appropriation of distributable profit. Furthermore, the Supervisory Board approved the non-financial report and the report of the Supervisory Board, the declaration on corporate governance combined with the corporate governance report, and the remuneration report, as well as its proposed resolutions on the items of the agenda for the 2020 Annual Shareholders’ Meeting.

Appreciation

The Supervisory Board thanks all the employees and the management of the Daimler Group for their committed contributions in the challenging environment of the year 2019.

The Supervisory Board also thanks Dr. Dieter Zetsche and Bodo Uebber for their committed work in the Company’s Board of Management.

Stuttgart, February 2020

The Supervisory Board

Dr. Manfred Bischoff
Chairman

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