Report of the Supervisory Board

Wulf von Schimmelmann
Chairman

Dear Shareholders,

Deutsche Post DHL has overcome the effects of the global economic crisis: it successfully concluded the financial year 2010 with double-digit revenue growth in the DHL divisions, whilst the performance of the MAIL division, although slightly down, was in line with expectations on the whole.

Advising and overseeing the Board of Management

In 2010, the Supervisory Board scrutinised Group and divisional strategy at a closed meeting. At each meeting, the Board of Management provided us with detailed information on the situation and direction of the company and the Group, on strategic initiatives and all key issues related to planning and implementation and on opportunities and risks for business performance. We also regularly discussed developments in the economic climate, progress in implementing the planned restructuring activities, the impact of the takeover of the Karstadt department stores by an investor and the effects of changes to value added tax legislation. All significant decisions were discussed in detail with the Board of Management. It also informed us in a timely and comprehensive manner regarding business performance, key business transactions and projects in the divisions, compliance organisation and compliance management, as well as the company’s risk exposure and risk management. The Board of Management also provided the chairman of the Supervisory Board with continuous updates between Supervisory Board meetings.

Measures requiring the consent of the Supervisory Board were discussed in even greater depth. Such measures were considered in advance by the relevant committees and the results of their deliberations were presented by the respective committee chairs to the Supervisory Board meetings.