Comments on the financial statements of PUMA SE in accordance with the german commercial code (German GAAP, HGB)

The annual financial statements of PUMA SE are prepared in accordance with the rules of the German Commercial Code (German GAAP, HGB), taking into account the SEAG (German SE Implementation Act) and the German Stock Corporation Act (AktG). PUMA SE is the parent company of the PUMA Group. PUMA SE's results are to a large extent influenced by the directly and indirectly held subsidiaries and shareholdings. The business development of PUMA SE is fundamentally subject, through profit transfers and dividends, to the same risks and opportunities as those of the PUMA Group.

PUMA SE acts as a holding company within the PUMA Group and, as such, is responsible for global licensing management, international product development, merchandising, international marketing, the global areas of finance, operations and PUMA's strategic direction.

With effect from 1 January 2025, PUMA SE fully spun off the operating business segment of sales in the DACH area, consisting of the home market of Germany, Austria, and Switzerland, in the course of a chain carve-out via PUMA Europe GmbH to the newly established subsidiary PUMA Central Europe GmbH. As part of this chain carve-out, pan-European distribution for individual key accounts and the sourcing of products from European production countries were also transferred to PUMA Central Europe GmbH.