Supervisory Board Report

Dear Shareholders,

2023 was a transition year for adidas. The appointment of Bjørn Gulden as new CEO effective January 1 paved the way for a successful restart of the company. The overall business environment continued to be characterized by geopolitical tensions, macroeconomic challenges, and elevated inventory levels. Against this backdrop, the company performed significantly better than initially expected as it put the focus back on its core: people, product, consumers, retail partners, and athletes. This started to pay off as brand momentum began to re-accelerate driven by the Terrace trend in Lifestyle and game-changing innovation in Performance. The company improved the relationship to its retailers and invested into broadening its portfolio of sports partners. In addition, adidas successfully reduced high inventory levels by limiting the sell-in to the wholesale channel and clearing excess stock. This was essential to be able to return to a healthier business mix going forward. In addition, adidas was able to conduct two drops of the remaining Yeezy products. As a result, the write-off and destruction of the products could be avoided, and the company made significant donations from the proceeds. Consequently, despite the challenging market environment, adidas was able to upgrade its full year guidance twice in the course of 2023 and ultimately posted top- and bottom-line results significantly above the increasing expectations. This reflects the operational and financial progress made during the year and provides a stronger foundation for further improvements in 2024 and a successful 2025 and 2026.

Supervision and advice in dialogue with the Executive Board

In the year under review, we performed all of our tasks laid down by law, the Articles of Association, the German Corporate Governance Code (‘Code’), and the Rules of Procedure carefully and conscientiously, as in previous years. We regularly advised the Executive Board on the management of the company, as well as diligently and continuously supervised its management activities. The Executive Board involved us directly and in a timely and comprehensive manner in all of the company’s fundamental decisions.

The Executive Board informed us extensively and regularly through written and oral reports. This information covered all relevant aspects of the company’s strategic direction, business planning (including finance, investment, and personnel planning), the business development, and the company’s financial position and profitability. We were also kept up to date on matters relating to accounting processes, the risk situation, the adequacy and further development of the internal Control and Risk Management Systems, and compliance, as well as all major decisions and business transactions. Furthermore, the Executive Board always reported immediately and thoroughly on any deviations in business performance from the plans. In the year under review, such deviations were attributable, in particular, to the handling of the existing Yeezy inventory, the reduction of elevated inventory levels, the impact of foreign exchange developments, and the negative business development in North America.

Furthermore, we received regular comprehensive written reports from the Executive Board for the preparation of our meetings. We thus always had the opportunity to critically analyze the Executive Board’s reports and resolution proposals within the committees and the entire Supervisory Board and to put forward suggestions before passing resolutions based on in-depth examination and thorough consultation. At the Supervisory Board meetings, the Executive Board was available for discussions and for answering our questions. In the periods between our meetings, the Executive Board also provided us with extensive monthly reports on the current business situation. We critically examined and scrutinized the information provided by the Executive Board.

Meetings of the Supervisory Board and its committees

In the past financial year, the Supervisory Board primarily exercised its duties in plenary meetings. Members who were unable to participate in the meetings took part in the resolutions by submitting their votes in writing. In the year under review, the meetings of the Supervisory Board and its committees took place both as physical and virtual meetings. The latest videoconferencing technology was used to ensure an open and appropriate discussion between the Executive Board and the Supervisory Board within the virtual meetings.

The external auditor, PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft (‘PwC’), Frankfurt am Main, Germany, attended the meetings of the Supervisory Board, in particular as part of the Executive Board’s financial reporting to the Supervisory Board, insofar as no Executive Board matters or internal matters of the Supervisory Board and Executive Board were discussed. Furthermore, PwC attended all meetings of the Audit Committee.

In the periods between meetings, the Chairman of the Supervisory Board and the Chairman of the Audit Committee maintained regular contact with the Chief Executive Officer and the Chief Financial Officer, conferring on matters such as the company’s strategic orientation, business planning and development, the risk situation, control and risk management, and compliance. In addition, the Chairman of the Supervisory Board and, as applicable, the entire Supervisory Board, were informed about events of fundamental importance for evaluating the situation, development, and management of the company, if required, also at short notice. The Chairman of the Supervisory Board regularly reported during meetings on discussions with the Executive Board outside the Supervisory Board meetings.

The Supervisory Board also convened regularly without the Executive Board members, in particular to discuss internal affairs of the Supervisory Board as well as personnel and compensation matters relating to the Executive Board. The Audit Committee also followed recommendation D.10 of the Code and regularly consulted with the auditor in the Audit Committee meetings without the Executive Board.

In this year under review, too, the participation rate of the Supervisory Board and its committees was constantly high, totaling approximately 99% (2022: approximately 96%) and thus exceeding the targeted minimum participation rate of 75%.

Tasks and topics for the entire Supervisory Board

In the year under review, there were seven meetings of the entire Supervisory Board (2022: nine meetings).

The following subject areas were presented to us in detail by the Executive Board for regular discussion at meetings of the entire Supervisory Board: the development of sales, earnings, and the employment situation, the financial position of the company, and the development of the company’s individual operations, brands, and markets. Focus topics in the year under review with regard to stabilizing operating profit were the business development in the major markets and sales channels, the order book development and the sell-through of our products, and the reduction of elevated inventory levels, as well as the handling of the existing Yeezy inventory and the Yeezy partnership in general. In addition, we dealt intensively with the major legal disputes, various brand and product topics, current marketing campaigns, and adidas’ key partnerships. The opportunities of artificial intelligence (‘AI’) for adidas as well as the associated risks were also discussed. The growing importance of ESG (Environmental, Social, Governance) topics and their regulation were further regular topics of discussion at the Supervisory Board meetings. Moreover, the Executive Board informed us about the current status and the developments of the Human Resources organization. As regards personnel matters, the extension of Harm Ohlmeyer’s appointment, the resignations of Roland Auschel, Brian Grevy, and Amanda Rajkumar, from the Executive Board and the appointments of Arthur Hoeld and Michelle Robertson to the Executive Board were the main subjects of consultation.

Due to statutory regulations or the Rules of Procedure, certain transactions and measures of the Executive Board require the approval of the Supervisory Board. The Supervisory Board discussed transactions requiring its approval as they arose and gave its approval to resolution items after thorough reviews, in some cases based on preparations by the relevant committees. In addition, the Supervisory Board regularly conferred on personnel and compensation matters concerning the Executive Board as well as questions of corporate governance. ADIDAS-GROUP.COM/S/COMPENSATION SEE DECLARATION ON CORPORATE GOVERNANCE

At the Supervisory Board’s February meeting, we welcomed the new Chief Executive Officer Bjørn Gulden, who started by sharing his initial impressions of adidas. He addressed the current status of the operating business, the existing challenges, and his priorities for the first few months of his tenure. Subsequently, the Executive Board reported on the company’s situation, the preliminary financial results for the 2022 financial year, and the Business Improvement Plan as well as the challenges in the Chinese market. Further focus topics were the Budget and Investment Plan presented by the Executive Board for the 2023 financial year and the resulting financial guidance for 2023. In this connection, the further handling of the existing Yeezy inventory was also discussed at length. Following a thorough discussion, the Supervisory Board approved the Budget and Investment Plan as presented. Furthermore, we approved the preliminary extension of the Public Cloud Computing contract with AWS. Another focus topic was Executive Board compensation. In this respect, having determined the degree of target achievement and having discussed in detail the individual performance of the Executive Board members, we set the variable compensation to be paid to the Executive Board members for the 2022 financial year. Due to the challenges in the financial year, the overall degree of target achievement for the 2022 Performance Bonus and the 2022 LTI tranche was below 50% for all Executive Board members and no payout was made. Furthermore, following an internal appropriateness test, the Executive Board compensation was assessed to be appropriate. Finally, we approved the Declaration on Corporate Governance.

At the balance sheet meeting in March, the Executive Board reported on the financial results for the past financial year as well as on the audit of the 2022 annual financial statements and consolidated financial statements. Before the Supervisory Board passed its resolution, the auditor reported on the material results of the audit, including the results of the audit of the content of the non-financial statement commissioned by the Supervisory Board in accordance with § 111 section 2 sentence 4 of the German Stock Corporation Act (Aktiengesetz – AktG). After in-depth examination of the financial statements and based on the auditor’s report and the Audit Committee report on the audit results, the Supervisory Board approved the annual financial statements and consolidated financial statements as well as the combined Management Report including the non-financial statement for adidas AG and the adidas Group. The annual financial statements were thus adopted. Furthermore, the Executive Board reported on the humanitarian crisis in Turkey and Syria and on the safety of and support for adidas’ employees. The Executive Board also outlined the company’s current business situation and the outlook for the 2023 financial year and gave an update on adidas brand and product topics, current marketing campaigns, and key partnerships. Other topics of discussion included compliance and major legal disputes involving adidas. Moreover, we approved the Supervisory Board Report to the Annual General Meeting as well as the proposed resolutions to be submitted to the 2023 Annual General Meeting, including the proposal on the appropriation of retained earnings for the 2022 financial year. In addition, we determined the criteria and targets for the variable, performance-based compensation of the Executive Board members for the 2023 financial year and approved the Compensation Report for the 2022 financial year at this meeting. Furthermore, in the absence of Jackie Joyner-Kersee, the Supervisory Board approved the continuation of the ambassador agreement between adidas and Jackie Joyner-Kersee. After thorough discussions and following the recommendation of the General Committee, we approved the extension of Harm Ohlmeyer’s appointment as member of the Executive Board of adidas AG by another three years until early 2028 and the termination by mutual consent of Roland Auschel’s and Brian Grevy’s appointments as members of the Executive Board of adidas AG, each effective upon expiry of March 31, 2023. Also upon the General Committee’s recommendation, Arthur Hoeld was appointed as a new Executive Board member with responsibility for Global Sales with effect from April 1, 2023. Responsibility for Global Brands was allocated to Chief Executive Officer Bjørn Gulden.

The May meeting, which took place on the evening before the Annual General Meeting, centered on the current business performance as well as adidas brand and product topics, current marketing campaigns, and key partnerships. The Supervisory Board was given reports on, inter alia, the Partner Camp with key retail partners, the ‘Football is Home’ event, and the Sourcing Partner Summit. Furthermore, we thoroughly discussed the financial results for the first quarter of 2023 and the handling of the existing Yeezy inventory. The Executive Board reported in detail on the business situation in the markets, especially in China and North America. Finally, we were informed about the expected main topics and questions at the Annual General Meeting.

At an extraordinary Supervisory Board meeting in June, we resolved upon the termination of Amanda Rajkumar’s appointment as member of the Executive Board of adidas AG by mutual consent upon expiry of July 15, 2023, based on the recommendation of the General Committee and after thorough deliberation.

At the August meeting, we particularly discussed the financial results for the second quarter and for the first half of 2023, with the Executive Board focusing on the challenges in North America. Furthermore, the Executive Board outlined the most recent update of the outlook for the 2023 financial year due to the positive impact of the first tranche of the Yeezy products sell-off. In this regard, we also discussed with the Executive Board the status of the legal dispute with Kanye West. Moreover, we were given an overview of the situation of the Human Resources organization and of brand and product topics, current marketing campaigns, and key partnerships. The Executive Board reported, in particular, on the lasting positive development of the Terrace shoe models (above all Samba, Gazelle, and Handball Spezial). Finally, training opportunities for the Supervisory Board were presented.

The Supervisory Board meeting in October focused on the discussion of the current business situation and the preliminary financial results for the third quarter of 2023, the outlook for the year under review, adidas brand and product topics, current marketing campaigns, and key partnerships. The main topics were, inter alia, innovations in the Running area and the associated successes in long-distance races on a global scale, and the ‘Fear of God’ basketball product range which was to be launched soon. Moreover, the Executive Board reported on Diversity and Inclusion and in this connection also on the new goals for the promotion of women in leadership positions and the ‘high potential’ development program. Furthermore, we were updated on use cases of artificial intelligence (‘AI’) at adidas as well as the strategic ESG orientation and the associated regulatory provisions. We also discussed the fulfillment of the statutory gender quota in the Supervisory Board stipulated in § 96 section 2 sentences 1, 3, and 4 AktG. In view of the Supervisory Board election at the 2024 Annual General Meeting, both the shareholder representatives and the employee representatives resolved in accordance with § 96 section 2 sentence 3 AktG that the minimum quota of 30% women and 30% men on the Supervisory Board has to be fulfilled separately for the shareholder representatives and the employee representatives.

At the December meeting, we focused on the preliminary Budget and Investment Plan for the 2024 financial year as presented by the Executive Board, which we approved after thorough deliberation, as well as on the marketing and sponsorship agreements concluded in the year under review. After a thorough review, we approved the final Budget and Investment Plan presented to us for resolution in February 2024. Moreover, the Executive Board gave a detailed report on the current business situation, the outlook for the year under review, as well as on adidas brand and product topics, current marketing campaigns, and key partnerships. In addition, we dealt with current legal disputes involving adidas, discussed the assessment of the Supervisory Board members’ independence, and resolved the Declaration of Compliance with the Code. A further agenda item was the review of the objectives of the Supervisory Board regarding its composition (including the competency profile). We also conferred on the upcoming Supervisory Board election in 2024 and thoroughly discussed the horizontal comparison of the Executive Board compensation conducted by an external compensation consultant. Based on this comparison, the Executive Board compensation was assessed to be appropriate. The Supervisory Board also discussed the current implementation status of the proposed measures of improvement resulting from the self-assessment conducted in the 2022 financial year (efficiency examination). Finally, upon the General Committee’s recommendation, we resolved to appoint Michelle Robertson as a member of the Executive Board, responsible for Global Human Resources, People and Culture, effective January 1, 2024.

Tasks and topics for the committees

In order to perform our tasks in an efficient manner, we have established a total of five standing Supervisory Board committees. The committees prepare resolutions and topics for the meetings of the entire Supervisory Board. Within the legally permissible framework and in appropriate cases, we have furthermore delegated the Supervisory Board’s authority to pass certain resolutions to individual committees. With the exception of the Audit Committee, the Chairman of the Supervisory Board also chairs all the standing committees. The respective committee chairmen report to the Supervisory Board on their work as well as the content and results of the committee meetings on a regular and comprehensive basis.

The Steering Committee did not meet in the year under review.

The General Committee held six meetings in the year under review (2022: six meetings). The main task of the General Committee was to prepare resolutions for the entire Supervisory Board on personnel and compensation matters of the Executive Board. In particular, it discussed the extension of Harm Ohlmeyer’s appointment and the terminations of Roland Auschel’s, Brian Grevy’s, and Amanda Rajkumar’s appointments by mutual consent. The General Committee also prepared Arthur Hoeld’s and Michelle Robertson’s appointments. Regarding Executive Board compensation, the General Committee mainly drafted proposals for resolutions on the targets, the target achievement, and the amount of the variable performance-related compensation, and pre-examined the horizontal and vertical appropriateness of the Executive Board compensation. Furthermore, the General Committee dealt intensively with the Compensation Report for the year under review and the revision of the compensation system for the Executive Board. The longterm succession planning for the Executive Board was also discussed by the General Committee.

The Audit Committee held four meetings in the year under review (2022: four meetings). The Chief Financial Officer and the auditor were present at all meetings and reported to the committee members in detail. The Audit Committee followed the recommendation of the Code and regularly consulted with the auditor at Audit Committee meetings without the Executive Board being present.

In addition to the monitoring of the accounting process, the committee’s work focused on the audit of the 2022 annual financial statements and the consolidated financial statements, including the combined Management Report and the non-financial statement of adidas AG and the Group, as well as the proposal regarding the appropriation of retained earnings. Following a detailed presentation of the audit reports by the auditor, the Audit Committee decided to recommend to the Supervisory Board to approve the 2022 annual financial statements and consolidated financial statements. Furthermore, the Audit Committee prepared the audit of the non-financial statement.

In the year under review, the Audit Committee thoroughly discussed the continued development and monitoring of the effectiveness and adequacy of the Risk Management System, the Internal Audit System, the Internal Control System, and the Compliance Management System. Moreover, due to the initial appointment of PwC as auditor by the Annual General Meeting, the Audit Committee also dealt intensively with the progress of PwC’s onboarding and the preparation of the audit. Other matters discussed in detail were the assignment of the audit mandate to the auditor and the determination of the audit fees and key audit matters. In accordance with § 111 section 2 sentence 4 AktG, the Audit Committee furthermore commissioned the auditor with the audit of the content of the non-financial statement with limited assurance and with an audit with reasonable assurance of the statements on the ‘share of sustainable articles offered’ (‘9 out of 10’) KPI contained therein. In addition, the Audit Committee monitored the auditor’s independence and qualification, while also taking into account the non-audit services provided by the auditor. With regard to assessing the quality of the audit, the Audit Committee determined on the basis of, inter alia, an internal quality review, that there were no indications of insufficient quality in the 2022 audit. Finally, the Audit Committee discussed the quarterly financial results and the half-year financial report. Furthermore, in the year under review, the Audit Committee thoroughly dealt with the audit plan and the risk management report. At each committee meeting, the Audit Committee was also informed about the findings and developments of the Internal Audit department and current cases and developments in the area of compliance.

Moreover, topics such as data privacy and information security, business partner due diligence, and adidas’ Global Business Services, as well as ESG and sustainability topics at adidas were discussed during the Audit Committee meetings. In this regard, a particular focus was on the provisions of the Corporate Sustainability Reporting Directive (CSRD) and the EU Taxonomy. Further topics of deliberation were the subsidiaries’ dividend strategy to ensure the distribution capability of adidas AG and the general requirements for the non-audit services rendered by the auditor. The tax strategy and the pension strategy at adidas were also discussed by the Audit Committee.

The Nomination Committee held two meetings in the year under review (2022: no meetings). The focus topic of both meetings and of deliberations in the period between the meetings was the preparation of the Supervisory Board’s proposals for the election of the Supervisory Board members representing the shareholders at the 2024 Annual General Meeting. The Nomination Committee received support from external personnel consultants in this regard. Taking into account the competency and diversity profile defined by the Supervisory Board and the qualification matrix for the Supervisory Board members as well as the statutory requirements for the candidates’ suitability and independence, the Nomination Committee developed a qualification profile. Based on this profile, the committee members thoroughly discussed the proposals prepared by the personnel consultants and had personal meetings with selected candidates. Following a careful assessment and thorough discussion, a concrete resolution proposal for the Supervisory Board was eventually prepared.

Furthermore, the Nomination Committee discussed the general succession planning for the Supervisory Board, in particular for the position of the Chairman of the Supervisory Board, with the discussion including consideration of investors’ expectations. In this connection, the committee also reviewed the objectives of the Supervisory Board regarding its composition and prepared resolution recommendations for the Supervisory Board.

As in previous years, the Mediation Committee, established in accordance with the German Co-Determination Act (Mitbestimmungsgesetz – MitbestG), did not have to be convened in the year under review.

Election and composition of the Supervisory Board

In the year under review, the composition of the Supervisory Board and its committees did not change. SEE SUPERVISORY BOARD

The members of the Supervisory Board are individually responsible for undertaking any necessary training and further education measures required for their tasks. To assist them in their role, the company offers new Supervisory Board members or members who assume new responsibilities an introduction to the work of the Supervisory Board and/or to new areas of responsibility within adidas AG. In this regard, the Supervisory Board members receive a detailed introduction to the business and subject areas that are relevant to their particular tasks. In the year under review, the Supervisory Board participated in a presentation on the brand’s creative direction organized by the ‘Creative Direction’ team. Moreover, product innovations of adidas and cooperation partners were presented to the Supervisory Board. Furthermore, the company informed the Supervisory Board regularly about current legislative changes, particularly with regard to the increasing regulation of ESG topics and non-financial reporting, and about opportunities for external training, and provided relevant specialist literature.

Changes to the Executive Board

In March 2023, the Supervisory Board resolved to extend Harm Ohlmeyer’s appointment as Chief Financial Officer of the company by another three years until March 2028. Furthermore, the Supervisory Board mutually agreed with Roland Auschel, responsible for Global Sales, and Brian Grevy, responsible for Global Brands, that both would resign as members of the Executive Board with effect from the end of March 31, 2023, and leave the company. The Supervisory Board appointed Arthur Hoeld as a new Executive Board member, responsible for Global Sales, with effect from April 1, 2023, and transferred responsibility for Global Brands to the Chief Executive Officer Bjørn Gulden. Moreover, in agreement with the Supervisory Board, Amanda Rajkumar, responsible for Global Human Resources, People and Culture, resigned as an Executive Board member with effect from the end of July 15, 2023, and left the company. Responsibility for Global Human Resources, People and Culture was transferred to Chief Executive Officer Bjørn Gulden on an interim basis. In December 2023, the Supervisory Board resolved to appoint Michelle Robertson as a new Executive Board member, responsible for Global Human Resources, People and Culture, effective January 1, 2024. SEE EXECUTIVE BOARD

Corporate governance

The Supervisory Board regularly monitors the application and further development of the corporate governance regulations within the company, in particular the implementation of the regulations of the Code. The Supervisory Board and its committees dealt with the corporate governance requirements of the German Stock Corporation Act and the Code at their meetings. Further detailed information on corporate governance within the company is set out in the Declaration on Corporate Governance. SEE DECLARATION ON CORPORATE GOVERNANCE

Following an in-depth discussion, the current Declaration of Compliance pursuant to § 161 AktG was resolved upon by the Executive Board and Supervisory Board of adidas AG in December 2023 and was made permanently available on our website. ADIDAS-GROUP.COM/S/CORPORATE-GOVERNANCE

In the year under review, there were no conflicts of interest among the members of either the Supervisory Board or the Executive Board. In the opinion of the Supervisory Board, the brand ambassador agreement between adidas and the Supervisory Board member Jackie Joyner-Kersee does not constitute a conflict of interest with regard to her role on the Supervisory Board.

Examination of the annual financial statements and consolidated financial statements

Following the Supervisory Board’s proposal, which was based on the Audit Committee’s recommendation, the 2022 Annual General Meeting appointed PwC as auditor and Group auditor for the 2023 financial year. Prior to this, PwC had confirmed to both the Supervisory Board and the Audit Committee that there are no circumstances which could prejudice their independence as auditor or cast doubt on their independence. In this respect, PwC also declared the extent to which non-audit services were rendered for the company in the previous financial year or are contractually agreed for the following year.

PwC audited the 2023 consolidated financial statements prepared by the Executive Board in accordance with § 315e of the German Commercial Code (Handelsgesetzbuch – HGB) in compliance with the International Financial Reporting Standards (IFRS), as they are to be applied in the European Union, and issued an unqualified opinion thereon. This also applies to the 2023 annual financial statements of adidas AG, prepared in accordance with the requirements of the German Commercial Code, and the combined Management Report of adidas AG and the adidas Group. Furthermore, as commissioned by the Supervisory Board, PwC audited the non-financial statement. The financial statements, the proposal on the appropriation of retained earnings, and the reports of the auditor of the annual financial statements and consolidated financial statements were distributed by the Executive Board to all Supervisory Board members in a timely manner.

The financial statements were examined in depth, with a particular focus on legality and regularity, in the presence of the auditor at the Audit Committee meeting held on March 4, 2024, and at the balance sheet meeting of the Supervisory Board on March 12, 2024, during which the Executive Board outlined the financial statements in detail. At both meetings, the auditor reported on the material results of the audit, inter alia with regard to the audit focus points agreed and key audit matters, and was available for questions, providing additional information. The auditor did not report any significant weaknesses of the Internal Control and Risk Management Systems with regard to the accounting process. Prior to the resolution being passed, the auditor also reported on the results of the audit of the non-financial statement with limited assurance as commissioned by the Audit Committee in accordance with § 111 section 2 sentence 4 AktG, and the audit with reasonable assurance of the statements on the ‘share of sustainable articles offered’ (‘9 out of 10’) KPI contained therein. In addition, the Supervisory Board thoroughly discussed and approved the Executive Board’s proposal concerning the appropriation of retained earnings for the 2023 financial year.

Based on our own examinations of the annual financial statements and consolidated financial statements (including the non-financial statement), we came to the conclusion that there are no objections to be raised. Therefore, following the recommendation of the Audit Committee, the Supervisory Board agreed with the auditor’s audit results and approved the financial statements prepared by the Executive Board, including the non-financial statement, for the 2023 financial year. The annual financial statements were thus adopted. PwC has been acting as auditor and Group auditor for adidas AG since the year under review. As the responsible audit partners since the 2023 financial year, the auditors Rainer Kroker and Christian Landau have signed the financial statements.

Expression of thanks

On behalf of the entire Supervisory Board, I wish to thank the current Executive Board and all our employees around the world for their great personal dedication and ongoing commitment. I would also like to express my gratitude for the enduring trust and cooperation between the employee and shareholder representatives on the Supervisory Board.

Moreover, I would like to thank Roland Auschel and Brian Grevy, who resigned from the Executive Board at the end of March 2023, and Amanda Rajkumar, who resigned from the Executive Board in July 2023, for their numerous important contributions and their commitment to adidas.

For the Supervisory Board

THOMAS RABE
CHAIRMAN OF THE SUPERVISORY BOARD
March 2024