Mynaric : Declaration of Conformity - April 2024

Declaration by the Management Board and Supervisory Board of Mynaric AG

on the recommendations of the "Government Commission on the German Corporate Govern-

ance Code" (Regierungskommission Deutscher Corporate Governance Kodex)

in accordance with Section 161 German Stock Corporation Act (Aktiengesetz, AktG)

The Management Board and Supervisory Board of Mynaric AG declare in accordance with Section 161 AktG:

1. Since issuing the last declaration of compliance on April 26, 2023, as amended and updated on October 10, 2023, Mynaric AG has complied with the recommendations of the German Corporate Governance Code in the version dated April 28, 2022 ("GCGC"), with the exceptions described below:

• The company does not yet comply with recommendation A.3 of the GCGC, according to which the internal control system and the risk management system should also cover sus- tainability-related objectives, whereby this should also include the processes and systems for recording and processing sustainability-related data. The company is currently working on a corresponding adjustment to the internal control system and the risk management sys- tem and intends to comply with recommendation A. 3 of the GCGC soon.
• Precautionary, the company declares that it does not comply with recommendation C.10 of the GCGC, according to which the Chairman of the Supervisory Board should be independ- ent of the company and the Management Board. According to recommendation C.7 of the GCGC, the assessment of independence should take into account, among other things, whether the Supervisory Board member was a member of the company's Management Board in the two years prior to the appointment.
  The Chairman of the Supervisory Board, Bulent Altan, was a member of the company's Man- agement Board in the two years prior to his election as a member and Chairman of the Supervisory Board. However, the Supervisory Board is of the opinion that the company will benefit from Bulent Altan's many years of service to the company and from his extensive experience and knowledge of the industry, particularly in his role as a member and Chairman of the Supervisory Board. Furthermore, the company continues to have no reason to assume that Bulent Altan does not make his decisions as Chairman of the Supervisory Board inde- pendently and in the exclusive interests of the company.
• The company still does not comply with recommendation F.2 of the GCGC, according to which the consolidated financial statements and the group management report should be publicly accessible within 90 days of the end of the financial year. The company considers the statutory requirements for the publication of the consolidated financial statements and the group management report to be sufficient to ensure proper accounting.

• The company still does not comply with recommendation G.17 of the GCGC, according to which the time commitment of the Chairman and members of Supervisory Board committees is appropriately taken into account in the remuneration.
  The company's 2021 Annual General Meeting set higher remuneration for the Chairman and members of the Audit Committee. The company's 2022 Annual General Meeting confirmed this resolution and approved a corresponding remuneration system for the Supervisory Board. The members of the Supervisory Board do not receive higher remuneration for their work as Chairman and members of the Remuneration Committee and the Corporate Governance and Nomination Committee.
  The work of the Chairman and the members of the Remuneration Committee and the Cor- porate Governance and Nomination Committee does not result in a significantly higher time commitment, meaning that the company is of the opinion that higher remuneration is not necessary.

2. Mynaric AG will - with the above-mentioned exceptions - continue to comply with the recommen- dations of the GCGC.