At its meeting on September 16, 2019, the Supervisory Board of Vossloh AG has appointed the current Chief Financial Officer, Mr. Oliver Schuster, as new Chairman of the Executive Board (CEO) with effect as of October 1, 2019 and as member of the Executive Board for further five years until February 28, 2025. Mr. Schuster's responsibility for Vossloh's finance department remains unaffected. In addition, Mr. Dr. Karl Martin Runge has been appointed to the Executive Board for a three-year term effective October 1, 2019. He will, in particular, be responsible for the departments Sales and Technology. The previous precise allocation of responsibilities in relation to the different divisions to specific members of the Executive Board has been omitted. The Executive Board members manage the operating units jointly. Furthermore, the Supervisory Board and the Executive Board members, Mr. Andreas Busemann and Mr. Volker Schenk, have mutually agreed that their appointments expiring on March 31 and April 30, 2020, respectively, will not be extended and that both Executive Board members will resign from office as of September 30, 2019.