Report of the Supervisory Board
The Supervisory Board and its committees performed the duties assigned to them by law and by Rentenbank’s Articles of Association and corporate governance principles and they advised and supervised the Management Board on the proper conduct of its work during the past financial year.
The Supervisory Board assured itself that the Management Board and Supervisory Board observed the Public Corporate Governance Code of the Federal Republic of Germany in the version of 6 November 2024. It will continually see to it that the Code is observed and implemented. The Supervisory Board approves the Corporate Governance Report, including the Statement of Compliance.
The annual financial statements and additionally the management report at 31 December 2025 prepared by the Management Board in accordance with the regulations of the German Commercial Code have been audited and provided with an unqualified audit opinion by Deloitte GmbH Wirtschaftsprüfungsgesellschaft, Frankfurt am Main/Germany. The Supervisory Board has acknowledged and concurred with the audit results.
The Supervisory Board has reviewed the annual financial statements, including the management report, and the Annual Report 2025 of Landwirtschaftliche Rentenbank. It hereby adopts Rentenbank’s 2025 annual financial statements and management report.
Of the net income of euro 39,000,000 presented in the income statement, an amount of euro 19,500,000 will be allocated to the principal reserve pursuant to Section 2 (2) of Rentenbank’s Governing Law. The Supervisory Board resolves to utilise the remaining distributable profit of euro 19,500,000 in such a way that euro 9,750,000 will be allocated to the Federal Republic of Germany’s Special-Purpose Fund and euro 9,750,000 to the Promotional Fund.
Frankfurt am Main/Germany, 18 March 2026
THE SUPERVISORY BOARD OF LANDWIRTSCHAFTLICHE RENTENBANK
The ChairmanJoachim Ruckwied