Independent Auditor’s Assurance Report on Examination of the Compen­sation Report Pursuant to § 162 Section 3 Aktg

To adidas AG, Herzogenaurach

OPINION

We have formally examined the compensation report of adidas AG, Herzogenaurach, for the financial year from January 1 to December 31, 2021, to determine whether the disclosures pursuant to § 162 section 1 and 2 AktG have been made in the compensation report. In accordance with § 162 section 3 AktG, we have not examined the content of the compensation report. In our opinion, the accompanying compensation report complies, in all material respects, with the disclosure requirements pursuant to § 162 section 1 and 2 AktG. Our opinion does not cover the content of the compensation report.

BASIS FOR OPINION

We conducted our examination of the compensation report in compliance with § 162 section 3 AktG taking into account the IDW assurance standard: Examination of the compensation report pursuant to § 162 section 3 AktG (IDW AsS 870 (08.2021). Our responsibilities under this regulation and this standard are further described in the ‘Our Responsibilities’ section of our assurance report. Our audit firm has applied the IDW Standard on Quality Management 1: Requirements for Quality Management in Audit Firms (IDW QS 1). We have complied with our professional duties pursuant to the German Public Accountants Act [WPO] and the Professional Charter for Auditors/Chartered Accountants [BS WP/vBP], including the independence requirements.

RESPONSIBILITIES OF THE EXECUTIVE BOARD AND THE SUPERVISORY BOARD

The Executive Board and the Supervisory Board are responsible for the preparation of the compensation report, including the related disclosures, in accordance with the requirements of § 162 AktG. The Executive Board and the Supervisory Board are also responsible for such internal control as they have determined necessary to enable the preparation of the compensation report that is free from material misstatement, whether due to fraud or error.

OUR RESPONSIBILITIES

Our objectives are to obtain reasonable assurance about whether the compensation report complies, in all material respects, with the disclosure requirements pursuant to § 162 section 1 and 2 AktG, and to issue an assurance report that includes our opinion. We planned and performed our examination to obtain evidence about the formal completeness of the compensation report by comparing the disclosures made in the compensation report with the disclosures required by § 162 section 1 and 2 AktG. In accordance with § 162 section 3 AktG, we have not examined whether the disclosures are correct or individual disclosures are complete or whether the compensation report is fairly presented.

Munich, February 25, 2022

KPMG AG
Wirtschaftsprüfungsgesellschaft