As a corporation with a stock market listing both in the United States and Germany, we are subject to a number of regulations and recommendations for the management, administration and monitoring of the company and its subsidiaries. On the one hand, we are required to adhere to the German Corporate Governance Code while, at the same time, we are subject to the regulations connected to our listing in the United States, with emphasis on the Sarbanes-Oxley Act and the Corporate Governance Code of the New York Stock Exchange. The Sarbanes-Oxley Act is a law for companies and their auditors aimed at improving disclosure and control. The broadening of regulations for financial reporting and related internal control systems is designed to increase the trust of investors and other interested parties. Fresenius Medical Care follows these discussions very closely and aims to fulfill the latest standards of transparency and stockholder rights. On the following pages we therefore disclose information on Fresenius Medical Care's Corporate Governance approach.