Mode of Operation of Supervisory Board

The Supervisory Board oversees and advises the Executive Board in heading up the corporation's business. The Supervisory Board is involved in all decisions of fundamental importance to the company. At regular intervals the Supervisory Board discusses business development and planning, strategy and implementation. The Supervisory Board approves the Consolidated Financial Statements of HOCHTIEF Aktiengesellschaft and the Group, with due consideration for auditing reports from the CPA performing the final audit and the recommendation of the Audit Committee.

The Supervisory Board makes decisions by resolution.

When the Supervisory Board votes, the Chairman has the casting vote, according to the rules of the Codetermination Act, if a second round of voting also ends in a draw.

According to the bylaws of the Supervisory Board, the Board shall institute the following committees:

The committee chairs reports regularly to the Supervisory Board concerning the work of their committees.


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