Report by the Supervisory Board pursuant to § 96 of the Stock Corporation Act [Aktiengesetz (AktG)]

During the 2020/2021 fiscal year, the Management Board informed the Supervisory Board and the Supervisory Board Audit Committee about the activities of the Group and its subsidiaries in writing and orally on a regular basis, and it discussed all important business events with these bodies. A total of four periodical ordinary meetings of the Group Supervisory Board were held in fiscal year 2020/2021 along with two ordinary meetings of the Audit Committee. The management bodies gave their approval to all business events, which is mandatory in specific cases. No objections were raised in the course of the general supervisory activities or the audit.

The Annual Financial Statements of Energie AG Oberösterreich for the 2020/2021 fiscal year, from 1 October 2020 to 30 September 2021, drawn up according to the Austrian accounting regulations, together with the accounts and the Management Report, were audited by Deloitte Audit Wirtschaftsprüfungs GmbH, Chartered Accountants. The auditor submitted a written report on his audit findings and assessed that the Annual Financial Statements comply with the statutory requirements, give a true and fair view of the assets, liabilities, financial position and profit or loss, and that the Management Report complies with the legal requirements and reconciles with the Annual Financial Statements. The auditor therefore issued its unqualified audit certificate.

The Supervisory Board examined the Annual Financial Statements as of 30 September 2021, together with the Notes and the Management Report, as well as the proposal for the appropriation of the profit. It drew up a written report and recommended that the Supervisory Board approve the auditor's report, together with the auditor's unqualified certificate, as well as the present Annual Financial Statements as of 30 September 2021, together with the Notes and the Management Report, so as to thus adopt the Annual Financial Statements as of 30 September 2021. The Audit Committee also recommended that the Supervisory Board adopt the proposal by the Management Board for the appropriation of the profit. The Supervisory Board noted with approval the outcome of the review conducted by the Audit Committee and of the audit conducted by the auditor, and established that the Supervisory Board, in turn, has no objections regarding the statements. The Supervisory Board states that it is in agreement with the Management Report, presented in accordance with § 96 of the Austrian Stock Corporation Act, and with the proposal for the appropriation of the profit, and that it adopts the Annual Financial Statements as of 30 September 2021, which is thus established.

The Consolidated Financial Statements for the 2020/2021 fiscal year from 1 October 2020 to 30 September 2021 drawn up in accordance with the International Financial Reporting Standards (IFRS), were also audited by Deloitte Audit Wirtschaftsprüfungs GmbH. The Group auditor submitted a written report on his audit findings and assessed that the Consolidated Financial Statements comply with the statutory requirements, give a true and fair view of the assets, liabilities, financial position and profit or loss as well as the Group's cash flows, and that the Management Report complies with the legal requirements and reconciles with the Consolidated Financial Statements. The Group auditor therefore issued its unqualified audit certificate. The Supervisory Board examined the Consolidated Financial Statements and the Group Management Report in detail. The Audit Committee also examined the Consolidated Financial Statements and the Group Management Report in detail. It drew up a written report and recommended that the Supervisory Board approve the auditor's report, together with the auditor's unqualified audit certificate, as well as the present Consolidated Financial Statements as of 30 September 2021, together with the Notes and Management Report. The Supervisory Board noted with approval the outcome of the review conducted by the Audit Committee and of the audit conducted by the Group auditor, and established that the Supervisory Board, in turn, has no objections regarding the statements.

By drawing up the Consolidated Financial Statements in accordance with the IFRS, the company is released from its obligation to prepare Consolidated Financial Statements in accordance with Austrian commercial law provisions.

The consolidated Non-financial Report, which is compulsory under § 267a of the Austrian Commercial Code (UGB) and is published as a separate part of the Group Annual Report, was prepared by the Management Board in compliance with the statutory requirements. The internal audit unit of Energie AG Oberösterreich has reviewed the Non-financial Report on behalf of the Supervisory Board and formed the opinion that the Non-Financial report was prepared in compliance with the statutory requirements. The Supervisory Board agrees with the findings of the review conducted by the internal audit unit and confirmed that it holds no objections against them. It was established that – in accordance with § 243b of the Austrian Commercial Code (Unternehmensgesetzbuch, or UGB) – there is no obligation to prepare a corporate governance report, and that in accordance with § 243c UGB, there is also no obligation to prepare a report on payments to government agencies.

The Supervisory Board would like to express its thanks to the Management Board and all company staff members for their successful work during the 2020/2021 fiscal year.

Linz, 17 December 2021

On behalf of the Supervisory Board

The Chairman of the Supervisory Board

Landesrat Markus Achleitner (signature)

Provincial Counsellor Markus Achleitner

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