English translation of original German version for convenience only

Petro Welt Technologies AG

FN 69011 m

Resolutions proposed by the Management Board and the

Supervisory Board

for the 17th Annual General Meeting on 29 June 2022

Ad agenda item 1:

Presentation of the approved annual financial statements including the management report and presentation of the consolidated annual financial statements including the consolidated management report, the corporate governance report and the report of the Supervisory Board, in each case, in relation to the fiscal year ended 31 December 2021.

No resolution of the shareholders on this agenda item is required.

Ad agenda item 2:

Resolution on the discharge of the members of the Management Board in relation to the fiscal year ended 31 December 2021.

The Management Board and the Supervisory Board propose to the shareholders to grant discharge to Messrs. Denis Stankevich and Kirill Bakhmetyev as members of the Management Board for the business year 2021.

Ad agenda item 3:

Resolution on the discharge of the members of the Supervisory Board in relation to the fiscal year ended 31 December 2021.

The Management Board and the Supervisory Board propose to the shareholders to grant discharge to Messrs. Maurice Dijols, Remi Paul and Ralf Wojtek as members of the Supervisory Board for the business year 2021.

Ad agenda item 4:

Resolution on the remuneration of the members of the Supervisory Board in relation to the business year ended 31 December 2021.

The Management Board and the Supervisory Board propose to the shareholders to grant to Messrs. Maurice Dijols, Remi Paul and Ralf Wojtek as members of the Supervisory Board a remuneration for the business year 2021 in the aggregate amount of EUR 120,000. The allocation of this amount to the individual members of the Supervisory Board shall be as follows:

  • for the chairman of the Supervisory Board, Mr. Maurice Dijols, an amount of EUR 35,000;
  • for the vice-chairman of the Supervisory Board, Mr. Remi Paul, an amount of EUR 50,000; and
  • for the member of the Supervisory Board, Mr. Ralf Wojtek, an amount of EUR 35,000.

Ad agenda item 5:

Election to the Supervisory Board.

The Supervisory Board proposes to the shareholders to set the size of the Supervisory Board of the Company again with 3 (three) members and to re-elect

  • Mr. Maurice Dijols,
  • Mr. Remi Paul and
  • Mr. Stephan Theusinger

as members of the Supervisory Board of the Company until the end of the Annual General Meeting which resolves on the discharge for the fiscal year 2026.

Rationale

According to clause 8.1 of the Articles of Association of the Company, the Supervisory Board consists of at least 3 (three) and maximum 7 (seven) members elected by the General Meeting. The Supervisory Board currently consists of 3 (three) members.

With the end of the Annual General Meeting which resolves on the discharge of the Supervisory Board for the fiscal year 2021 the term of office of all Supervisory Board members ends. Three members must therefore be elected in order to keep the current size of the Supervisory Board.

In the opinion of the Supervisory Board, 3 (three) Supervisory Board members are sufficient to fulfil the supervisory duties, particularly, because the current and proposed Supervisory Board members are experts with many years of experience in the oil and petroleum production industry as well as in the technology sector. Details can be found in the respective CVs of the persons.

Re-election is permitted.

The Supervisory Board members will be elected to the Supervisory Board until the end of the Annual General Meeting which resolves on the discharge for the fiscal year 2026.

The three aforementioned candidates have declared their willingness to assume the positions again.

The criteria of section 87 para 2a of the Austrian Stock Corporation Act were taken into account in the selection of the proposed candidates. The declarations of the proposed candidates pursuant to section 87 para 2 of the Austrian Stock Corporation Act regarding their professional qualifications, their professional or comparable functions as well as all circumstances that could give rise to concerns of partiality were disclosed on the website of Petro Welt Technologies AG.

The Supervisory Board of the Company is currently not subject to section 86 para 7 of the Austrian Stock Corporation Act and therefore has no legal obligation to take into account the minimum proportionality requirement pursuant to section 86 para 7 of the Austrian Stock Corporation Act.

M.12979914.1

Ad agenda item 6:

Election of the auditor of the annual financial statements and of the consolidated annual financial statements, in each case, in relation to the fiscal year ending on 31 December 2022.

The Supervisory Board proposes to the shareholders to elect Mazars Austria GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft as auditor for the stand-alone and consolidated financial statements regarding the fiscal year 2022.

Ad agenda item 7:

Resolution on the remuneration report.

The Management Board and the Supervisory Board propose to the shareholders to approve the remuneration report for the fiscal year 2021 in the form made available on the website of Petro Welt Technologies AG.

Rationale

The Management Board and the Supervisory Board of a listed company must prepare a clear and comprehensible remuneration report for the remuneration of the members of the Management Board and the Supervisory Board in accordance with section 78c in connection with section 98a of the Austrian Stock Corporation Act.

The remuneration report for the fiscal year 2021 must be submitted to the Annual General Meeting for approval. The vote has a recommendatory nature. The resolution cannot be appealed (section 78d para 1 of the Austrian Stock Corporation Act).

The Management Board and the Supervisory Board of Petro Welt Technologies AG approved the remuneration report that was prepared in accordance with section 78c in connection with section 98a of the Austrian Stock Corporation Act and made a proposal to resolve on the remuneration report in accordance with section 108 para 1 of the Austrian Stock Corporation Act.

The remuneration report will be available on the Company's website (www.pewete.com) as of 8 June 2022 at the latest.

Ad agenda item 8:

Sale of the participations in Russia.

[will be published separately on 8 June 2022 at the latest]

Vienna, June 2022

The Management Board and the Supervisory Board

M.12979914.1

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Petro Welt Technologies AG published this content on 03 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 June 2022 19:31:10 UTC.