All matters of fundamental or significant importance require the approval of all members of the Management Board.

None of the current Management Board members listed above holds other Board mandates outside the Company.
All matters of fundamental or significant importance require the approval of all members of the Management Board.
The Management Board follows all Company bylaws and guidelines issued by the Supervisory Board, regulating the tasks and responsibilities of the Board members, in particular procedures of the decision-making process, as well as provisions on the avoidance of conflicts of interest.

Petro Welt Technologies AG has taken out a D&O insurance policy for all members of the Supervisory Board and Management Board. The insurance policy has no deductibles in the event of claims.