Specification to promote the participation of women in executive positions pursuant to Sections 76 Paragraph 4 and 111 Paragraph 5 of the German Stock Corporation Act (Aktiengesetz - AktG)
Development of women in management positions
The German Commercial Code (Handelsgesetzbuch – HGB) requires companies such as Biotest AG, which are subject to co-determination under the One-Third Participation Act (Drittelbeteiligungsgesetz), to set targets for gender representation on the Supervisory Board, the Management Board, and at subordinate management levels.
Women on the Supervisory Board
For the financial year 2024, the Supervisory Board had set a target of 30% for the proportion of women. This target had not been met as of 31 December 2024. With effect from 1 January 2025, the Supervisory Board has set a target of 33.3% for the proportion of women on the Supervisory Board and has committed to achieving this by 31 December 2027.
In accordance with the Articles of Association, the Supervisory Board of Biotest AG comprises six members, four of whom are shareholder representatives and two of whom are employee representatives; all these positions were held by men in the reporting year. Consequently, the target of 33.3% women is currently not being met.
Ms Susanne Butler was appointed as an employee representative by court order, following a proposal by the Works Council and with the approval of the Supervisory Board, after Mr Jürgen Heilmann had resigned from his post on 31 January 2026. Since 16 February 2026, one member of the Supervisory Board has been a woman.
The members of the Supervisory Board currently appointed as shareholder representatives were each elected to the Supervisory Board by the Annual General Meeting for the period until the conclusion of the Annual General Meeting that decides on the discharge of the members for the financial year 2026. Regular re-elections will therefore take place at the 2027 Annual General Meeting. The target figure for gender distribution on the Supervisory Board can only be achieved ahead of schedule by increasing the number of members of the Supervisory Board or by the resignation of one or more members and their re-election.
The Supervisory Board does not consider the re-election of Supervisory Board members to meet the target to be expedient. The Supervisory Board is committed to personnel stability within the Supervisory Board. In view of the current period of transition that Biotest AG is undergoing, the Supervisory Board prefers to make succession decisions based on professional qualifications. The Supervisory Board has no influence over the appointment of employee representatives to the Supervisory Board but instead follows the proposals of the Works Council and the election results.
Women on the Management Board
For the financial year 2024, the Supervisory Board had set a target of 33.3% for the proportion of women on the Executive Board. This target was not met as of 31 December 2024. With effect from 1 January 2025, the Supervisory Board has set a target of 0% for the proportion of women on the Executive Board. This target applies until 31 December 2027.
As of 31 December 2025, the Executive Board consisted exclusively of men, with Dr Schüttrumpf as its sole member. In the 2025 financial year, the Supervisory Board considered a one-person Executive Board to be sufficient. The aforementioned target has been achieved.
The Supervisory Board does not consider a change in the composition of the Executive Board or an increase in its size solely for the purpose of raising the proportion of women to be appropriate. Nevertheless, the Supervisory Board regards gender equality and, more generally the promotion of diversity and equality as an important task.
In principle, when selecting suitable members of the Executive Board, the Supervisory Board will, in the interests of a diverse composition of the management body, take into account not only professional and personal qualifications but also gender diversity within the Executive Board.
Following Biotest AG’s change of legal form to a KGaA, the Supervisory Board will no longer determine the composition of the management body.
Women at the first and second management level
The Executive Board of Biotest AG set a target of 35% for the representation of women at the first management level by 1 January 2026 and exceeded this by 31 December 2025 with a proportion of 50.0%. The target for the first management level was maintained by the Executive Board at 35% until 31 December 2027.
The target for the second management level was set at 35% by 1 January 2026. As at 31 December 2025, the proportion of women at this management level stood at 28.1%. The absolute number of female managers at this level is at an all-time high. However, as the total number of positions has grown and, due to low staff turnover, changes are primarily driven by new hires, the proportion is rising only gradually. The target for the second management level was also left unchanged by the Executive Board at 35% until 31 December 2027.