Significant Events After the Balance Sheet Date

Since January 1, 2016, the strategic transformation of the Bertelsmann Group is reflected even more strongly in the company structure. From the start of the financial year 2016, the Group will form three additional independent divisions from the operating activities of Corporate Investments: BMG, Bertelsmann Education Group and Bertelsmann Investments. BMG is an international music business; the Bertelsmann Education Group comprises the growth businesses and investments in the education segment; and Bertelsmann Investments comprises the funds Bertelsmann Digital Media Investments (BDMI), Bertelsmann Asia Investments (BAI), Bertelsmann Brazil Investments (BBI) and Bertelsmann India Investments (BII), investing in digital businesses worldwide. In addition, the Group’s offset and gravure printing activities were combined in the Bertelsmann Printing Group division as of January 1, 2016. The group comprises the businesses Mohn Media, GGP Media and Vogel Druck previously considered part of service subsidiary Arvato, the gravure activities of Prinovis in Germany and the UK previously operating under Be Printers, and the offset and digital printers of Be Printers in the United States. In the future, the new division will also include individual printing-related service and production businesses such as the Sonopress replication business.

At its meeting on January 26, 2016, the Supervisory Board appointed Bernd Hirsch as the new Bertelsmann Chief Financial Officer. As of April 1, 2016, he will take over the department from Executive Board Chairman Thomas Rabe who was performing this function on a transitional basis.