Kapsch TrafficCom’s policy is to recommend a distribution of dividends that would reflect a payout ratio of approximately one-third of annual profits. The company’s ability to pay dividends is determined on the basis of the annual financial statements of Kapsch TrafficCom AG. The timing and amount of such dividends, if any, will depend upon the company’s future earnings and prospects, the capital requirements resulting from projects and acquisitions and the company’s financial condition and other factors considered relevant by the managing and supervisory boards. In any event, the dividend is subject to the approval of the shareholders’ meeting.