Following Cerberus' withdrawal as a major shareholder in BAWAG Group AG, Dr. Pieter Korteweg, the Cerberus delegated representative and Chairman of the supervisory board since BAWAG Group's public listing in 2017, has decided to resign after having served as a Cerberus representative on the Supervisory Board for more than 12 years. With Dr. Korteweg's resignation, the Austrian Mr. Egbert Fleischer, the current Deputy Chairman of the Supervisory Board since 2017, will succeed Dr. Korteweg as Chairman of the Supervisory Board.