29.Auditor’s Fees

Since fiscal 2018 KPMG AG Wirtschaftsprüfungsgesellschaft, Düsseldorf (Germany) (KPMG AG), has been the elected statutory auditor of Covestro AG and Covestro Group. Dr. Markus Zeimes has been the auditor primarily responsible for carrying out the audit of the consolidated financial statements since April 13, 2018. Ms. Franziska Schenk and Dr. Markus Zeimes were responsible for carrying out the 2021 audit of the consolidated financial statements. Dr. Markus Zeimes first signed the Independent Auditor’s Report on December 31, 2018.

The following fees were recognized as expenses the given fiscal year for the services provided by KPMG AG:

The fees for audit services for fiscal 2021 mainly comprise those for the statutory audit of the consolidated financial statements of the Covestro Group, the review of the Covestro Group’s interim report for the period ended June 30, 2021, and the audit of the financial statements of Covestro AG and its subsidiaries in Germany, including audits relating to the German Energy Industry Act (EnWG) and similar standards. The increase in fees for audit services over the previous year is mainly due to audit services performed in Germany and elsewhere for the acquisition of the Resins & Functional Materials (RFM) business from Koninklijke DSM N.V., Heerlen (Netherlands), and audit services in connection with the reorganization of the Group as part of the LEAP transformation project.

The fees for other attestation services in fiscal 2021 particularly contain the assurance of sustainability information and special audits concerning energy related topics. Tax services mainly include a slight year-over-year increase in the scope of consultancy services for the preparation of tax returns and matters related to VAT. Other services essentially comprise fees for IT security audits, which in fiscal 2021 additionally included cloud and similar environments as well as analyses relating to sustainability reporting.