Audit Committee

The Audit Committee deals in particular with monitoring the accounting process and the effectiveness of the internal control and risk management systems, as well as with the audit of the Annual Financial Statements. With regard to the audit of the Annual Financial Statements, the Audit Committee deals with the independence of the auditor, the additional services provided by the auditor, the issuing of the audit mandate to the auditor, including the determination of key audit areas, and the auditor’s fee agreement. The audit committee oversees the collaboration between the auditors and NORMA Group SE and ensures that opportunities for improvement identified during the audit are implemented promptly. It is responsible for preparing the accounting documents and the Supervisory Board’s resolution on the Annual and Consolidated Financial Statements. The Audit Committee is also responsible for verifying the effectiveness of the internal control systems.

The Audit Committee consists of three members. In accordance with the recommendations in Section D.3 of the German Corporate Governance Code (DCGK), the Chairman of the Supervisory Board does not chair the Audit Committee. The Chair of the Audit Committee, Ms. Kerstin Müller-Kirchhofs, has the necessary expertise in the field of auditing and accounting, based on her many years of professional experience at an auditing firm and in management positions in the finance departments of various companies, most recently as CFO of GESCO SE. At least one other member of the Audit Committee, Mr. Mark Wilhelms, has the necessary expertise in the field of accounting due to his many years of professional experience as CFO of various commercial enterprises. Kerstin Müller-Kirchhofs and Mark Wilhelms are independent financial experts as defined in Section 100 (5) AktG. Due in particular to their many years as CFO and in various management positions, they have special knowledge and experience in the application of accounting principles and internal control procedures, as well as sustainability reporting and its auditing. Further information on the respective special knowledge and experience can be found in the CVs of the current members of the Audit Committee published on the company’s website. WWW.NORMAGROUP.COM