Continental : Creating Value. For a Better Tomorrow -

Pre-publication on Thursday, April 20, 2023

Creating Value. For a Better Tomorrow.

Speech by Chairman of the Executive Board Nikolai Setzer,

Continental Aktiengesellschaft, Hanover at the

Annual Shareholders' Meeting for Fiscal 2022 on April 27, 2023, in Hanover

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Creating Value. For a Better Tomorrow.

| Continental AG, Nikolai Setzer, April 27, 2023

Ladies and gentlemen,

Welcome to the Annual Shareholders' Meeting of Continental AG.

Mobility is complex.

And it's becoming more and more complex with each passing day.

In Berlin and London.

In New York and Beijing.

Continental is developing solutions to cope with such complexity. Around 200,000 employees are doing this.

With passion and enthusiasm.

They include software engineers as well as experts in hardware.

Our technological expertise ranges from the road to the cloud. That's what makes Continental so unique.

We have a balanced portfolio

for complementary markets and cycles. No other supplier can offer what we do.

We are shaping the future with our products and solutions.

And we're doing so today during challenging times.

During a pandemic. During crises. During war.

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Creating Value. For a Better Tomorrow.

| Continental AG, Nikolai Setzer, April 27, 2023

We can't ignore what's going on around us.

On the contrary, we need to take action.

The war in Ukraine is causing immense human suffering.

I'd therefore like to thank the countless employees who are doing their part to help the victims,

through their contributions and tremendous personal commitment. I'm deeply moved by this. As are we all.

At the same time, we're also feeling the effects of this new situation, including rising prices of goods, raw materials and energy.

In addition to long-standing issues such as

• the transformation of traditional industries, especially the automotive sector
• inflation
• and the climate crisis, which remains a major undertaking.

All of that means change - including in the world of work. Traditional jobs are disappearing. New professions are emerging. We need to take an active role in shaping this change.

And we are doing so successfully.

This success is based on three factors

• First, on the progress made last year.
• Second, on our strategic setup.
• And third, on our technological expertise and power of innovation.

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Creating Value. For a Better Tomorrow.

| Continental AG, Nikolai Setzer, April 27, 2023

Let's start with the progress we've made.

In spite of the considerable headwinds facing us.

In the first half of 2022, there were once again major disruptions to global supply chains.

Not least because China had to close its major ports due to the COVID pandemic.

Off the shores of Shanghai alone, more than 300 container ships were left waiting for several months.

Freight charges skyrocketed as a result.

There were also continued shortages, such as for semiconductors.

Alongside this, the war in Ukraine drove up prices.

For energy.

And the prices of goods and raw materials also rose.

All of these factors were met with a weakened global economy. Interest rates rose as a result, making money more expensive.

For Continental specifically, this translated into impairment losses in the Automotive group sector.

On top of the impairment losses in its Russian business caused by the war and the prescribed sanctions.

All of this had an adverse impact on our net income in the amount of around one billion euros.

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Creating Value. For a Better Tomorrow.

| Continental AG, Nikolai Setzer, April 27, 2023

At the same time, we had to deal with internal issues:

In ContiTech, some industrial hoses were not up to standard.

And some air conditioning lines for cars did not meet our customers' expectations.

Investigations into past cases concerning the diesel issue also remain ongoing.

These were and still are major stress factors.

We're learning lessons from this.

Because integrity isn't something we can pick and choose.

It's an obligation. Every day and everywhere.

We know that integrity is key to fostering innovation.

And to creating trust.

We supply our customers with what we've promised them.

With what we've agreed with one another.

Anything else is unacceptable.

Because it leaves our customers disappointed.

And because it undermines our employees' hard work.

That's why we're setting the tone from the top.

We've realigned Compliance and our Law department.

We're continuing to promote a culture in which mistakes are handled constructively.

A culture of openness and transparency.

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