FinLab : Annual Report as of December 31, 2022

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Annual report as of 31 December 2022

FinLab AG Annual report as of 31 December 2022

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CONTENTS

ANNUAL REPORT

Report of the Supervisory Board	03
Annual financial statements (HGB)	06
Balance Sheet	07
Income Statement	09
Notes to the financial statements	10
Development of fixed assets	15
Independent auditor's report	16

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FinLab AG Annual report as of 31 December 2022

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REPORT OF THE SUPERVISORY BOARD

Dear Shareholders,

Below, the Supervisory Board provides information on the performance of its duties and the focal points of its activities in the 2022 financial year.

Cooperation between the Executive Board and the Supervisory Board

In the year under review, the Supervisory Board regularly advised the Executive Board on the management of the company and continuously monitored its conduct of business. To this end, the members of the Supervisory Board maintained continuous contact with the members of the Executive Board, kept themselves informed about the course of business and significant events, and consulted with the members of the Executive Board.

The Chairman of the Supervisory Board discussed significant issues with the other members of the Supervisory Board and involved them in the ongoing work of the Supervisory Board.

The Executive Board regularly informed the Supervisory Board in a timely and comprehensive manner, both in writing and verbally, about all important aspects of corporate planning and strategic and ongoing business development. We always had sufficient opportunity to critically discuss the reports, motions and proposed resolutions of the Executive Board in the plenary session of the Supervisory Board and to make suggestions.

The Executive Board submitted all matters requiring approval to the Supervisory Board for decision in a timely manner. The approvals have been granted after a detailed examination of the documents and, if necessary, supplementary explanations by the Executive Board.

In all cases, the formation of opinions and decision-making by the Executive Board and the Supervisory Board proceeded amicably, swiftly and successfully on the basis of thorough and appropriate information.

Supervisory Board meetings

The Supervisory Board of FinLab AG held six ordinary meetings in the 2022 financial year, which were held as face-to-face meetings and as telephone or video conferences due to the Corona- virus crisis.

In the Supervisory Board meetings, the reports of the Executive Board on the situation of the compa- ny, the economic environment, the development of turnover and costs as well as significant business events, transactions and participations were discussed.

Specifically, the Supervisory Board dealt with the following topics:

• Financial planning and discussions on the Company's financing concept, as well as preparation and analysis of agenda items and proposed resolutions for the Annual General Meeting, par- ticularly with regard to the proposed change in the remuneration structure of Heliad Equity Partners GmbH & Co. KGaA

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FinLab AG Annual report as of 31 December 2022

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• Approval of the audited and certified annual financial statements for the financial year 2021 as well as the report of the Supervisory Board to the Annual General Meeting for the financial year 2021
• Appointment of Julian Kappus to the Executive Board of the company
• Resolution on the planning for the 2023 financial year
• Preparation of potential transactions in the investment portfolio, in particular sale of invest- ments
• Other topics, in particular on the development of the venture capital market, strategic implications thereof and any planned capital market communication

Annual financial audit

The annual financial statements of FinLab AG for the financial year 2022 prepered by the Executive Board in February 2023 were audited by ifc Treuhand GmbH Wirtschaftsprüfungsgesellschaft, Dreieich (operating as ifb Treuhand GmbH Wirtschaftsprüfungsgesellschaft, Grünwald until 9 January 2023).

The preparation of the consolidated financial statements for FinLab AG was waived in accordance with § 293 (1) of the German Commercial Code (HGB).

The auditor issued an unqualified audit opinion for the annual financial statements of FinLab AG.

The financial statement documents and the auditor's report were available to the Supervisory Board. They were examined in detail by the Supervisory Board at the balance sheet meeting and discussed in the presence of the auditor, who reported on the results of his audit. At this meeting, the auditor also reported in detail on the scope, focus and costs of the audit. The Supervisory Board was able to satisfy itself about the correctness of the audit and the audit report.

The Supervisory Board concurred with the auditor's findings and, within the scope of its own audit, which was conducted to the customary extent, determined that there were no objections to be raised. It approved the annual financial statements of FinLab AG for the 2022 financial year prepared by the Executive Board. The annual financial statements of FinLab AG are thus adopted in accordance with § 172 German Stock Corporation Act (AktG).

Audit of the report of the Executive Board on relations with affiliated companies

The report on relations with affiliated companies (dependency report) prepared by the Executive Board in accordance with § 312 of the German Stock Corporation Act (AktG) for the 2022 financial year was submitted to the Supervisory Board together with the auditor's report on this subject.

The auditor has audited the dependency report and issued the following unqualified audit opinion in accordance with § 313 German Stock Corporation Act (AktG):

"According to the final results of our audit, there are no objections within the meaning of

• 313 (4) of the German Stock Corporation Act (AktG) to the report of the executive board on relations with affiliated companies. We therefore issue the following unqualified audit opinion on the report of the the 2022 financial year in accordance with § 313 (3) of the German Stock Executive Board on relations with affiliated companies of FinLab AG for Corporation Act (AktG)."

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FinLab AG Annual report as of 31 December 2022

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For its part, the Supervisory Board examined the dependence report of the Executive Board and the audit report of the auditor within the usual scope. The Supervisory Board came to the conclusion that the audit report - as well as the audit conducted by the auditor itself - complied with the legal requirements. The Supervisory Board examined the dependency report in particular for completeness and correctness and also satisfied itself that the group of affiliated companies had been determined with due care and that the necessary precautions had been taken to record the legal transactions and measures subject to the reporting requirements. No indications for objections to the dependency report became apparent during this audit. After the final result of its examination, the Supervisory Board raises no objections to the final declaration of the Executive Board and agrees with the result of the audit by the auditor.

Composition of the Supervisory Board

• Stefan Müller, Chairman of the Supervisory Board
• Herbert Seuling, Deputy Chairman of the Supervisory Board
• Volker Rofalski, Member of the Supervisory Board

Thanks

The Supervisory Board would like to express its sincere thanks to all employees of FinLab AG for their commitment and performance in the past financial year.

Frankfurt am Main, April 2023

For the Supervisory Board

Stefan Müller

(Chairman of the Supervisory Board)

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