Turn Change Into Opportunity – 
Embrace Sustainability
Integrated Sustainability Report 2021

Continental AG 
Continental develops pioneering technologies and services for 
sustainable and connected mobility of people and their goods. 
Founded in 1871, the technology company offers safe, efficient, 
intelligent and affordable solutions for vehicles, machines, traffic 
and transportation. In 2021, Continental generated sales of 
€33.8 billion and currently employs more than 190,000 people 
in 58 countries and markets.  
 www.continental.com

Continental AG  2021 Integrated Sustainability Report  
3
 
Group Sustainability Scorecard 
2021 
continuing 
operations 
2020  
continuing and 
discontinued 
operations 
Carbon neutrality1 
  
  
Direct CO2 emissions (Scope 1) in millions of metric tons of CO2 
0.822 
0.784, 5 
Indirect CO2 emissions (Scope 2) in millions of metric tons of CO23 
0.232 
0.214 
Total own CO2 emissions (Scope 1 and 2) in millions of metric tons of CO2 
1.052 
0.994 
Emission-free mobility and industries 
  
  
Allocated zero-tailpipe-emission vehicles business in € millions6, 7 
986 
826 
Allocated low-carbon business beyond zero-tailpipe-emission vehicles business in € millions €8 
6 
n. a. 
Allocated business with emission-free mobility and industry und Industrie in € millions 
991 
n. a. 
Circular economy  
  
  
Waste recycling quota in %9 
812 
814 
Responsible value chain  
  
  
Number of available, valid supplier self-assessment questionnaires (as at Dec. 31)10 
631 
696 
Good working conditions  
  
  
OUR BASICS Live Sustainable Engagement index in %11, 12 
80 
82 
Sickness rate in %13, 14 
3.7 
3.5 
Unforced fluctuation rate in %14, 15 
7 
4.6 
Green and safe factories  
  
  
Environmental protection management system certifications (ISO 14001)  
Employee coverage quota (as at Dec. 31) in %16 
76 
82 
Energy management system certifications (ISO 50001)  
Employee coverage quota (as at Dec. 31) in %16 
40 
51 
Occupational safety and health management system certifications (ISO 45001 or similar)  
Employee coverage quota (as at Dec. 31) in %16 
62 
69 
Accident rate (number of accidents per million working hours)17, 18 
2.6 
2.9 
Benchmark in quality 
  
  
Quality management system certifications (ISO 9001 or similar)  
Employee coverage quota (as at Dec. 31) in %16 
84 
91 
New field quality events (as at Dec. 31)19 
36 
18 
Sustainable management practice  
  
  
Gender diversity – share of female executives and senior executives (as at Dec. 31) in % 
17.8 
16.1 
Innovation and digitalization 
  
  
Research and development expenses (net) in € millions 
2,586.8 
3,381.8 
in % of sales  
7.7 
9.0 
 
 
 
 
1 Definitions in accordance with the GHG Protocol. Scope 1 includes emissions from the burning of fossil fuels as part of Continental’s own processes, and Scope 2 includes emissions from purchased electricity, steam and heat. 
CO2 emission factors correspond to CO2 equivalents (CO2e). 
2 Contains a small amount of imputed data for parts of the Continental Group that did not report data directly. 
3 Calculated using the market-based calculation method of the GHG Protocol. Where contract-specific emission factors were not available, the standard emission factors from Defra (September 2020) were used. 
4 Includes the relevant production and research and development locations. 
5 CO2 emissions from fleet consumption for company cars (leased vehicles) are only partially and not systematically included. 
6 Definition: allocated business with zero-tailpipe-emission vehicles comprises all business with products for vehicles transporting goods and people that count as taxonomy-eligible low-carbon technologies for transport under 
the delegated regulation (2021/2800) for climate change mitigation and adaptation of the Taxonomy Regulation (2020/852). 
7 The business can be allocated via the vehicle manufacturer, the vehicle platform or the product specification, for example. The data includes both pure business and attributable business, such as in the case of combined 
vehicle platforms. For the Tires, ContiTech and Contract Manufacturing business areas, the sales reported at the end of the year were included. For Contract Manufacturing, this was based on an estimation by the customer 
Vitesco Technologies. In the case of the Automotive Technologies group sector, a calculation was carried out for passenger cars and light commercial vehicles using internal, vehicle-specific planning data for sales and 
external data for production quantities, and for medium and heavy commercial vehicles this was based on the relevant customer portfolio. 
8 Definition: allocated low-carbon business beyond business with zero-tailpipe-emission vehicles measures business that enables our customers to significantly contribute to climate change mitigation and is considered Taxon-
omy-eligible under the delegated regulation (2021/2800) for climate change mitigation and adaptation of the Taxonomy Regulation (2020/852), excluding low-carbon technologies for transport. 
9 Definition: proportion of waste that has been sent for material recycling, thermal recovery or any other form of recycling or reuse. 
10 Based on the self-assessment questionnaires via the sustainability platforms EcoVadis and NQC by suppliers selected for this process. 
11 Definition: employee agreement on topics relating to sustainable engagement in the employee survey OUR BASICS Live. 
12 This is based on the responses of 47,472 participants (PY: 4,918 participants) as a representative random sample of Continental’s group sectors and countries. 
13 Definition: sickness-related absence relative to contractual worktime. 
14 Excluding leasing personnel (i.e. permanent staff only). 
15 Definition: voluntary departure of employees from the company relative to the average number of employees. 
16 Valid certifications and concluded recertification processes were counted, as well as ongoing recertification processes, if the achievement of recertification was considered highly probable. 
17 Definition: number of accidents during working hours per million paid working hours. Counted from more than one lost day, i.e. with at least one lost day beyond the day of the accident. 
18 Excluding leasing personnel (i.e. permanent staff only) and way-to-work accidents. 
19 Definition: a field quality event is a risk-minimizing measure for a product manufactured and/or sold by Continental based on a safety-related defect and/or non-compliance with regulations that was initiated by Continental, a 
customer and/or an authority. 
.
Development of Strategic Performance 
Indicators

Continental AG  2021 Integrated Sustainability Report 
4
 
Letter from the Executive Board .............................................................................. 5 
Information on Reporting .......................................................................................... 6 
Corporate Profile ........................................................................................................... 8 
Structure of the Continental Group .......................................................................................................................... 8 
Strategy of the Continental Group ......................................................................................................................... 12 
Sustainability Management in the Continental Group ...................................................................................... 14 
Development of Material Sustainability Topic Areas ..................................... 16 
Carbon Neutrality ....................................................................................................................................................... 16 
Emission-free Mobility and Industries ................................................................................................................... 22 
Circular Economy ........................................................................................................................................................ 24 
Responsible Value Chain ........................................................................................................................................... 26 
Innovation and Digitalization .................................................................................................................................. 29 
Green and Safe Factories .......................................................................................................................................... 33 
Long-term Value Creation ......................................................................................................................................... 36 
Good Working Conditions ......................................................................................................................................... 58 
Benchmark in Quality ................................................................................................................................................ 78 
Safe Mobility ................................................................................................................................................................. 80 
Sustainable Management Practice ......................................................................................................................... 81 
Corporate Citizenship ............................................................................................................................................. 117 
Risks and Opportunities ........................................................................................ 118 
Risk and Opportunity Management and Internal Control System .............................................................. 118 
Material Risks ............................................................................................................................................................ 120 
Material Opportunities ........................................................................................................................................... 127 
Statement on Overall Risk and Opportunities Situation ................................................................................ 128 
Notes ............................................................................................................................ 129 
Information in Accordance with the EU Taxonomy Regulation ................................................................... 129 
Performance Indicator Index ................................................................................................................................ 131 
GRI Index .................................................................................................................................................................... 134 
UN Global Compact Index ...................................................................................................................................... 139 
SDG Index ................................................................................................................................................................... 140 
TCFD Index ................................................................................................................................................................. 141 
SASB Index ................................................................................................................................................................. 142 
Key Memberships..................................................................................................................................................... 143 
Ratings and Rankings .............................................................................................................................................. 144 
Independent Auditor’s Reports ............................................................................................................................ 145 
Content

Continental AG  2021 Integrated Sustainability Report  Letter from the Executive Board 
5
 
 
 
 
Sustainability is transforming our society – globally, comprehen-
sively and with increasing speed. This means that many certain-
ties and structures are undergoing change. Already, sustainability 
is leading to tectonic shifts in the global economy, with far-reach-
ing social effects. This makes sustainability a fundamental para-
digm for companies – and so far there is a clear consensus. How-
ever, it is not yet possible for us to speak of a true consensus. Col-
lective approval means that public discourse has shifted from “IF” 
to “HOW.” Even so, a transition period of at least a decade lies be-
fore us, and its shaping is characterized above all by uncertainty. 
In the course of this development, sustainability will move into the core of every business model. Indeed, it is becoming a business in its 
own right. On the one hand, implementing global sustainability goals leads to transformation costs. These must be divided as fairly as 
possible along the value chain. On the other hand, sustainable products and technologies offer significant commercial potential as de-
mand and interest in them is rapidly growing among consumers, customers and policymakers. It is important to set the course for this 
now. Because sustainability is neither a purely ecological or social issue, nor a niche topic. Instead, it will play a decisive role in determin-
ing companies like Continental’s future (commercial) success. 
The compass we are using for this transformation is our sustainability ambition, which we introduced in 2020 and interlinked closely  
with our corporate strategy. In the “consistent use of opportunities” strategic pillar, the idea of “living sustainability” is explicitly referred to – 
a clear message that we must accept this transformation and actively shape it. This attitude illustrates our commitment to the strong and 
visionary focus areas of our ambition, as well as our wish to achieve them by 2050 at the latest together with our partners along the 
value chain:  
› 100% carbon neutrality,  
› 100% emission-free mobility and industries,  
› 100% closed resource and product cycles, and 
› 100% responsible procurement and business partnerships.  
 
The speed at which we can achieve these goals will be influenced by the transformation speeds of our customers and markets worldwide. 
Our aim is to be able to accommodate these different speeds. Increased and closer cooperation and communication are required to en-
sure that all the links in the value chain can join together. We can only build up a sustainable economic system when politicians, society, 
the financial sector and companies come together. 
This means leaving the “feel-good” corner, vacating the silos and getting into active shaping. Only by working together, can we make the 
economic transformation toward sustainability a success. Our integrated sustainability report will show you where we are on this journey.  
We look forward to your questions and suggestions. And now, on behalf of the entire Executive Board and all our employees, I wish you 
an exciting and informative read.  
With warm regards, 
Dr. Ariane Reinhart 
Group Human Relations, Director of Labor Relations, Group Sustainability 
 
 
Letter from the Executive Board

Continental AG  2021 Integrated Sustainability Report  Information on Reporting 
6
 
This is Continental’s eleventh sustainability report. It also represents our progress report 
for the UN Global Compact (“Communication on Progress”). 
Integrated sustainability reporting concept 
Continental has published a sustainability report every year since 
2012 and a combined non-financial statement each year since 
2018, with both reports looking at the past fiscal year. The main 
medium of our sustainability reporting is the integrated sustainabil-
ity report. This report brings together information, in a modular for-
mat, from the company’s combined non-financial statement, man-
agement report, consolidated financial statements and other 
sources, as well as additional information. 
Reporting standards  
Reporting is based on the standards of the Global Reporting Initia-
tive (GRI), the UN Global Compact, the UN Sustainable Develop-
ment Goals (SDG), the Task Force on Climate-related Financial Dis-
closures (TCFD), and the Sustainability Accounting Standards Board 
(SASB). The relevant indices can be found starting on page 134.  
Reporting period  
The report covers the 2021 fiscal year from January 1 to Decem-
ber 31, 2021, and was published on April 19, 2022.  
Scope of consolidation  
The integrated sustainability report encompasses the same scope 
of consolidation as for the consolidated financial statements (see 
the section on “General Information and Accounting Principles” on 
page 125 of the annual report). The information refers – unless oth-
erwise indicated – to continuing operations of the Continental 
Group and therefore exclude Vitesco Technologies, which was spun 
off on September 15, 2021. The content taken from the combined 
non-financial statement relates in principle to continuing and dis-
continued operations, with the exception of performance indicators 
for the financial year 2021. 
Material topics 
The material topics in our sustainability strategy, and therefore our 
sustainability reporting, were identified in 2019 on the basis of a 
stakeholder survey of more than 1,700 stakeholders, as well as  
additional analyses. The table below provides an overview of these 
key topics and indicates the reports in which they are specifically 
covered. 
 
Key topics in the sustainability 
strategy 
Reports in which the individual topics are covered 
Integrated 
sustainability 
report 
Statutory reporting 
Combined non-financial statement in 
the annual report 
Management report in  
the annual report  
Other annual reporting  
(not part of the management report) 
1 
Carbon neutrality 
X 
X 
 
 
2. 
Emission-free mobility and industries  
X 
X 
 
 
3 
Circular economy  
X 
X 
 
 
4 
Responsible value chain  
X 
X 
 
 
5 
Good working conditions 
X 
X 
 
 
6. 
Green and safe factories  
X 
X 
 
 
7 
Innovation and digitalization 
X 
 
X 
(Research and 
Development section) 
 
8 
Benchmark for quality  
X 
X 
 
 
9 
Safe mobility 
X 
 
X 
(Research and 
Development section) 
 
10. 
Long-term value creation 
X 
 
X 
(Corporate 
Management and 
Economic Report section) 
 
11. 
Sustainable management practice 
X 
X  
 
X  
(Corporate Governance  
section) 
12. 
Corporate citizenship 
X 
 
 
 
 
 
 
Information on Reporting

Continental AG  2021 Integrated Sustainability Report  Information on Reporting 
7
 
Topics covered in the various reporting formats 
The integrated sustainability report presents the management ap-
proach and results, including key performance indicators and other 
key figures and examples, for each key topic of the sustainability 
strategy. By contrast, the combined non-financial statement in  
accordance with Sections 315b and 315c in conjunction with  
Sections 289b to 289e of the German Commercial Code (HGB)  
focuses exclusively on information required by law. 
Text and assurance markings 
The main content of this integrated sustainability report is derived 
from Continental AG corporate publications, such as the consoli-
dated financial statements, the annual report or the remuneration 
report, which were audited by an independent auditor. It should be 
noted that the audits were carried out in a different context, such 
as the statutory audit, and that the audited content for this inte-
grated sustainability report was recompiled. Further selected infor-
mation in this report was subject to an additional audit with limited 
assurance by an independent auditor. The entire integrated sustain-
ability report has not been assured. The externally verified content 
is color-coded as per the following overview.  
 
Significance of color coding and the applicable auditor’s report 
Color coding 
Significance 
Applicable auditor’s report 
Page reference 
auditor’s report 
Yellow marking 
This text section is derived from Continental AG corporate publications 
(consolidated financial statements, management report incl. the combined 
non-financial statement or remuneration report), which was assured by an 
independent auditor. 
Report on the Audit of the Consolidated Financial 
Statements and the Consolidated Management 
Report 
145 
Auditor’s Report on the Remuneration Report 
Green marking 
This text section has been assured in a separate audit for the integrated 
sustainability report. 
Independent Practitioner’s Report on a Limited 
Assurance Engagement on selected Sustainability 
Information in the Integrated Sustainability Report 
of Continental AG 
No color-coding  
This text has not been subject to an external audit. 
--- 
---

Continental AG  2021 Integrated Sustainability Report  Corporate Profile  Structure of the Continental Group 
8
Source: 2021 Annual Report> Management Report > Corporate Profile >  
Structure of the Continental Group (
 starting p. 26) 
 
Five dynamic and flexible business areas  
in Automotive. Tires and ContiTech now 
independent group sectors. 
New organizational structure 
Since January 1, 2022, the Continental Group has been divided 
into four group sectors: Automotive, Tires, ContiTech and Contract 
Manufacturing. These comprise a total of 17 business areas. 
The former Autonomous Mobility and Safety (AMS) and Vehicle 
Networking and Information (VNI) business areas were dissolved 
with effect from January 1, 2022. At the same time, five new, dy-
namic and flexible business areas were created. Their organiza-
tional structure is based on the business strategy of the Automo-
tive group sector and thus on market development in the context 
of the transformation of the mobility industry. 
Tires and ContiTech are now independent group sectors, and the 
former consolidation of business areas in Rubber Technologies has 
been dissolved. 
Following the spin-off of Vitesco Technologies, Contract Manufac-
turing was created as both a new group sector and business area. 
Contract Manufacturing comprises contract manufacturing for 
Vitesco Technologies and therefore the continuing operations of 
the former Powertrain Technologies group sector. 
Business responsibility 
A group sector or business area with overall responsibility for a 
business, including its results, is classified according to product  
requirements, market trends, customer groups and distribution 
channels. 
Overall responsibility for managing the company is borne by the 
Executive Board of Continental Aktiengesellschaft (AG). The Auto-
motive, Tires and ContiTech group sectors are each represented on 
the Executive Board. 
With the exception of Group Purchasing, the central functions of 
Continental AG are represented by the chairman of the Executive 
Board, the chief financial officer and the Executive Board member 
responsible for Human Relations, and assume the functions re-
quired to manage the Continental Group across the group sectors. 
These include, in particular, finance, controlling, compliance, law, IT, 
human relations, sustainability, as well as quality and environment. 
Customer structure 
With a 61% share of consolidated sales, the automotive industry – 
with the exception of the replacement business – is our most im-
portant customer group. This industry is particularly important for 
the growth of the Automotive group sector. In the Tires group sec-
tor, sales to dealers and end users represent the largest share of 
the tire-replacement business. In the ContiTech group sector, the 
customer base is made up of the automotive industry and other 
key industries such as railway engineering, machine and plant con-
struction, mining and the replacement business. In the Contract 
Manufacturing group sector, Vitesco Technologies constitutes the 
sole customer. 
Companies and locations 
Continental AG is the parent company of the Continental Group. In 
addition to Continental AG, the Continental Group comprises 472 
companies, including non-controlled companies. The Continental 
team is made up of 190,875 employees at a total of 527 locations 
in the areas of production, research and development, and admin-
istration, in 58 countries and markets. Added to this are distribution 
locations, with 944 company-owned tire outlets and a total of around 
5,200 franchises and operations with a Continental brand presence. 
 
Corporate Profile  
Structure of the Continental Group

Continental AG  2021 Integrated Sustainability Report  Corporate Profile  Structure of the Continental Group 
9
 
The Automotive group sector comprises technologies for passive 
safety, brake, chassis, motion and motion control systems. Innova-
tive solutions for assisted and automated driving, display and oper-
ating technologies, as well as audio and camera solutions for the 
vehicle interior, are also part of the portfolio, as is intelligent infor-
mation and communication technology for the mobility services of 
fleet operators and commercial vehicle manufacturers. Comprehen-
sive activities relating to connectivity technologies, vehicle electron-
ics and high-performance computers round off the range of products 
and services. The group sector is divided into five business areas: 
› Architecture and Networking 
› Autonomous Mobility 
› Safety and Motion 
› Smart Mobility 
› User Experience 
 
With its premium portfolio in the car, truck, bus, two-wheel and spe-
cialty tire segment, the Tires group sector stands for innovative 
solutions in tire technology. Intelligent products and services re-
lated to tires and the promotion of sustainability complete the 
product portfolio. For specialist dealers and fleet management, 
Tires offers digital tire monitoring and tire management systems, in 
addition to other services, with the aim of keeping fleets mobile 
and increasing their efficiency. With its tires, Continental makes a 
significant contribution to safe, efficient and environmentally friendly 
mobility. In the reporting year, 21% of sales in Tires related to busi-
ness with vehicle manufacturers, and 79% related to the tire-replace-
ment business. The group sector is divided into five business areas: 
› Original Equipment 
› Replacement APAC 
› Replacement EMEA 
› Replacement The Americas 
› Specialty Tires 
The ContiTech group sector develops and manufactures, for ex-
ample, cross-material, environmentally friendly and intelligent prod-
ucts and systems for the automotive industry, railway engineering, 
mining, agriculture and other key industries. Guided by the vision 
of “smart and sustainable solutions beyond rubber,” the group sec-
tor draws on its long-standing knowledge of the industry and mate-
rials to open up new business opportunities by combining various 
materials with electronic components and individual services. In 
the reporting year, 48% of sales in ContiTech related to business 
with automotive manufacturers, and 52% to business with other in-
dustries and in the automotive replacement market. The group sec-
tor is divided into six business areas: 
› Advanced Dynamics Solutions 
› Conveying Solutions 
› Industrial Fluid Solutions 
› Mobile Fluid Systems 
› Power Transmission Group 
› Surface Solutions 
 
As of September 2021, the contract manufacturing of products by 
Continental companies for Vitesco Technologies has been consoli-
dated in the Contract Manufacturing group sector. This contract 
manufacturing is not intended to be a permanent situation; rather, 
the operational separation of production will be promoted in the 
coming years, and the volume of contract manufacturing reduced. 
Contract Manufacturing includes one business area: 
› Contract Manufacturing 
 
 
Structure of the Continental Group in 2022 
Continental Group
Automotive 
Tires
Contract Manufacturing
ContiTech

Continental AG  2021 Integrated Sustainability Report  Corporate Profile  Structure of the Continental Group 
10
Globally interconnected value creation 
Research and development (R&D) took place at 84 locations in the 
reporting year, predominantly in close proximity to our customers 
to ensure that we can respond flexibly to their various requirements 
and to regional market conditions. This applies particularly to pro-
jects of the Automotive and ContiTech group sectors. In the Tires 
group sector, R&D is largely centrally organized, since product re-
quirements for tires are much the same across the world. They are 
adapted according to the specific requirements of each market. 
Continental generally invests between 7% and 8% of sales in R&D 
each year. For more information, see the Research and Develop-
ment section. 
Continental processes a wide range of raw materials and semi-fin-
ished products. The purchasing volume in the reporting year was 
€23.2 billion in total, €15.7 billion of which was for production ma-
terials. The Automotive and Contract Manufacturing group sectors 
use primarily steel, aluminum, precious metals, copper and plastics. 
Electronics and electromechanical components together make up  
around 37% of the Continental Group’s purchasing volume for  
production materials, while mechanical components account for 
around 15%. Natural rubber and oil-based chemicals such as syn-
thetic rubber and carbon black are key raw materials for the Tires 
and ContiTech group sectors. The total purchasing volume for 
these materials amounts to around 23% of the total volume for  
production materials. For more information, see the Development 
of Raw Materials Markets section in the economic report. 
Production and sales in the Automotive and ContiTech group sec-
tors are organized across regions. For the Tires group sector, econ-
omies of scale play a key role when it comes to tire manufacturing. 
Low production costs coupled with large volumes and proximity to 
our customers or high rates of regional growth constitute key suc-
cess factors. For this reason, manufacturing takes place at major lo-
cations in the dominant automotive markets, namely Europe, the 
USA and China. Tires are sold worldwide via our dealer network 
with tire outlets and franchises, as well as through tire trading in 
general. 
Globally interconnected value creation
Purchasing
Diverse
€23.2 billion in volumes
Innovative
€2.6 billion in expenditure
Local
€33.8 billion in sales
Global
210 locations
R&D
Sales & Distribution
Production

Continental AG  2021 Integrated Sustainability Report  Corporate Profile  Structure of the Continental Group 
11
 
Shareholder Structure 
Source: 2021 Annual Report > To Our Shareholders > Continental Shares and 
Bonds (
 p. 7) 
 
Note: This text has been shortened. 
 
Free float unchanged at 54.0% 
As in the previous year, free float as defined by Deutsche Börse AG 
amounted to 54.0% as at the end of 2021. The most recent change 
took place on September 17, 2013, when our major shareholder, 
the IHO Group, Herzogenaurach, Germany, announced the sale of 
7.8 million Continental shares, reducing its shareholding in Conti-
nental AG from 49.9% to 46.0%. 
As at the end of 2021, the market capitalization of Continental AG 
amounted to €18.6 billion (PY: €24.3 billion including Vitesco Tech-
nologies). Market capitalization on the basis of free float averaged 
€10.1 billion over the last 20 trading days of the reporting year (PY: 
€12.6 billion including Vitesco Technologies). Free-float market cap-
italization is the decisive factor for index calculation in the new reg-
ulatory framework of Deutsche Börse AG. 
At the end of 2021, Continental AG ranked 36th in terms of free-
float market capitalization in the new DAX, which has consisted of 
40 constituents since September 2021 (PY: 26th out of 30 DAX 
constituents). 
Share of free float in the USA rises further 
As at the end of the year, we once again determined the distribu-
tion of free float of Continental shares by way of shareholder identi-
fication (SID). 
We were able to assign 105.4 million of the 108.0 million shares 
held in the form of shares or alternatively as American depositary 
receipts (ADRs) in the USA to more than 570 institutional investors, 
banks and asset managers across 40 countries. The identification 
ratio was 97.6% (PY: 90.7%). 
According to the SID, the identified level of Continental shares held 
in Europe was slightly lower than the previous year at 49.0% of free 
float (PY: 52.5%). 
The identified level of shares held by investors from the UK and Ire-
land remained unchanged compared to the previous year at 29.7%. 
The identified free-float holdings of German investors fell to 6.3% in 
the year under review (PY: 9.3%). 
French investors held 3.4% of Continental free-float shares at the 
end of 2021. 
The free-float holdings of Scandinavian investors fell to 3.1% in 
2021 (PY: 4.1%). 
Investors in other European countries increased their share of free 
float to 6.5% in 2021 (PY: 6.0%). 
Shareholdings of investors in North America increased significantly 
in 2021. In total, they held 45.7% (PY: 34.5%) of the free float in the 
form of shares or ADRs. 
The identified shareholdings of investors in Asia, Australia and Africa 
were at 2.9% at the end of 2021 (PY: 3.6%). 
 
 
 
Shareholder Structure and Regional Distribution of Free Float 
 
 
54.0
46.0
Shareholder Structure as at Dec. 31, 2021 in %
Free Float1
IHO-Group
1 According to the definition from Deutsche Börse AG, holdings of less than 5 %  
are considered free float unless they are attributable to a shareholder with a    
total holding of more than 5 %. 
3.4
29.7
6.5
3.1
6.3 
45.7
2.9
2.4
Regional distribution of the free float as at Dec. 31, 2021 in %
(97.6 % identified)
Germany
Not identified
Asia, Australia 
and Africa
USA and Canada 
UK and 
Ireland
France
Scandinavia
Rest of Europe 
In the Spotlight

Continental AG  2021 Integrated Sustainability Report  Corporate Profile  Strategy of the Continental Group 
12
Source: 2021 Annual Report > Management Report > Corporate Profile >  
Strategy of the Continental Group (
 starting p. 29) 
 
Strategy of profitable growth to address 
the transformation in the mobility industry. 
We are committed to our targets. 
With our strategy, which was realigned to address the transformation 
in the mobility industry in 2020, we have paved the way for profita-
ble growth over the coming years. In 2021, we systematically rea-
ligned our entire organizational structure and our management 
processes to this strategy. We see the transformation in the mobil-
ity industry as an opportunity. Our strategy is based on three cor-
nerstones: 
› Strengthening operational performance 
› Differentiating the portfolio 
› Turning change into opportunity 
 
1. Strengthening operational performance 
By strengthening our operational performance, we can ensure our 
future viability and competitiveness. We are aligning our cost struc-
ture to global market conditions. In 2019, we introduced appropri-
ate measures with our Transformation 2019–2029 structural pro-
gram. This will allow us to achieve gross savings of €850 million 
annually from 2023 onward. The new strategy was implemented in 
2020, and the organizational structure was aligned with it in 2021. 
The former Automotive Technologies group sector (which became 
the Automotive group sector from January 1, 2022) now has an 
entirely new organizational structure. The five new business areas 
are responsible for the successful implementation of this strategy. 
They have the decision-making authority and flexibility required to 
be able to quickly respond to market changes. They are supported 
by an overarching advanced engineering organization called Holis-
tic Engineering and Technologies, or “he[a]t.” he[a]t operates in par-
ticular on projects across all strategic action fields, such as the de-
velopment of high-performance computers. The former Rubber 
Technologies group sector has been dissolved, and Tires and Con-
tiTech are now independent group sectors. This new structure elim-
inates an entire intermediate level, making us more streamlined, 
faster and more efficient. 
In connection with the semiconductor shortage, we have launched 
a task force with the aim of enabling us to better respond to fluctu-
ations on the procurement markets. As a result, we have optimized 
our early warning systems and adapted our purchasing structure 
to the procurement networks. In addition, we are building up safety 
stocks in a targeted manner in order to more reliably bridge possi-
ble supply shortages. 
2. Differentiating the portfolio 
Efforts to differentiate our product portfolio in a more targeted 
manner concentrating on growth and value are progressing well. 
Our focus on growth is aimed at establishing strong market posi-
tions in innovative fields featuring highly dynamic growth, while our 
focus on value addresses saturated markets with stable but low 
growth. 
In our Automotive, Tires and ContiTech group sectors, our focus on 
growth is centered around innovations for safe, connected and au-
tomated driving, which will be a critical factor in customers’ future 
purchasing decisions. Vehicles require technologies from Continen-
tal, such as tires, braking systems, hoses for thermal management, 
digital solutions and services, as well as high-performance comput-
ers – irrespective of the vehicle’s drive technology. 
We are purposefully entering into partnerships that make us better 
and faster, in particular with smaller specialist firms and start-up 
companies. In the year under review, for example, we invested in 
collaborations for assisted and autonomous driving. Funding that 
we do not contribute to partnerships is used to establish and de-
velop our in-house expertise. 
When it comes to “value,” our focus is on profitable product areas 
where we have solid competitive positions in markets with a high 
degree of maturity. These include, for example, display and control 
systems, surface materials and the European tire business. The aim 
here is to sustain profitability and generate sufficient funds to ena-
ble us to ensure competitive expansion geared to market and tech-
nology leadership in growth areas that as yet are unable to fully  
finance their ambitious growth themselves. 
 
Strategy of the Continental Group

Continental AG  2021 Integrated Sustainability Report  Corporate Profile  Strategy of the Continental Group 
13
 
The portfolio strategy also includes possible acquisitions, divest-
ments and partnerships. The business areas are regularly assessed 
to determine whether they are capable of creating the best possi-
ble value for Continental, and how their value can be maximized. 
The spin-off of Vitesco Technologies was completed in the year un-
der review as part of these efforts. 
3. Turning change into opportunity 
Continental’s sustainability ambition comprises the four focus areas 
of carbon neutrality, emission-free mobility and industries, circular 
economy, and responsible value chain. It describes how, together 
with our partners, we seek to shape the transformation in the rele-
vant topic areas along the entire value chain by 2050 at the latest. 
Along with the corresponding guidelines, this sustainability ambition 
brings together the existing strategies, programs and processes, as 
well as their further development. The systematic expansion of our 
business in particular with zero-tailpipe-emission vehicles contrib-
utes significantly toward achieving our ambitions in the area of car-
bon neutrality and emission-free mobility and industries, as well as 
toward reducing greenhouse gas emissions in the mobility sector. 
As part of our global Net|Zero|Now program, we also offer our cus-
tomers the neutralization of our business carbon backpack through 
negative emissions as of fiscal 2022. The program focuses on busi-
ness with zero-tailpipe-emission vehicles and thus promotes their 
expanded use. Detailed information on the implementation of our 
sustainability ambition can be found in the Sustainability and Com-
bined Non-Financial Statement section starting on page 36 of this 
annual report. 
Our comprehensive new organizational structure helps us seize 
market opportunities and translate them into profit even more 
quickly. Transparent structures and a high level of autonomy make 
us more flexible in an increasingly complex market environment. 
In the Automotive group sector, we are focusing on the growing 
global demand for safer, connected and convenient mobility. This 
means, in particular, the development of non-differentiating soft-
ware, which makes up around 60% of a vehicle’s software. Such 
software consists of programs that are not critical for the marketing 
of vehicles, but that are necessary to ensure their safe operation. It 
is crucial to achieve cost advantages through standardization and 
scaling in this area. 40% of a vehicle’s software relates to functions 
that make a visible difference, such as for automated driving or in-
fotainment systems. For Automotive overall, we anticipate an ad-
justed EBIT margin of around 6% to 8% in the medium term as well 
as a return on capital employed (ROCE) of over 15%. 
We want to further consolidate our position among the world’s top 
tire manufacturers, particularly in the growth markets of Asia and 
North America. In the passenger-car tire segment, we intend to ex-
pand our business with tires for electric mobility and ultra-high per-
formance tires. We also see future growth in vehicle fleet manage-
ment services. For the Tires group sector, we anticipate an adjusted 
EBIT margin of around 12% to 16% in the medium term as well as 
an ROCE of over 20%. 
For the ContiTech group sector, the main opportunities are pre-
sented by the growing demand for digital and intelligent solutions. 
Business continues to be based on products and systems made 
from rubber, plastic, metal, textiles and electronic components which 
in the future we will be able to combine with customized and digital 
service offerings. For ContiTech overall, we anticipate an adjusted 
EBIT margin of around 9% to 11% in the medium term as well as 
an ROCE of over 20%. 
At corporate level, we aim in the medium term to achieve an ad-
justed EBIT margin of around 8% to 11% and an ROCE of around 
15% to 20%. The cash conversion ratio is expected to exceed 70%.

Continental AG  2021 Integrated Sustainability Report  Corporate Profile  Sustainability Management in the Continental Group 
14
 
Source: 2021 Annual Report > Management Report > Corporate Profile >  
Sustainability and Combined Non-Financial Statement (
 starting p. 36) 
 
Note: This section relates to continuing and discontinued operations, with the 
exception of performance indicators for the financial year 2021. 
 
Ambition, strategy and program 
Sustainability is a driver of innovation for Continental during the 
current transformation of mobility and industries, and is thus firmly 
anchored in its corporate strategy in the cornerstone of “turning 
change into opportunity.” 
In the Continental Group's sustainability ambition, we describe  
how we want to shape this transformation in the relevant topic  
areas with respect to sustainability. Along with the relevant guide-
lines, this sustainability ambition brings together existing strategies, 
programs and processes, as well as their further development. The 
specific ambitions, strategies, programs and processes are pre-
sented in the following sections for the reporting topic areas of the 
combined non-financial statement. The entire ambition can be 
found at  www.continental-sustainability.com. 
Management, organization and responsibilities 
Ultimate responsibility for sustainability lies with the Executive 
Board member for Group Human Relations and Group Sustainabil-
ity, under whose supervision the Group Sustainability group func-
tion is responsible for sustainability management in the Continental 
Group. Sustainability organization is further supplemented by sus-
tainability functions in the group sectors as well as coordinators in 
several business areas and countries. 
The Group Sustainability Steering Committee is responsible for as-
sessing interdepartmental issues, weighing up risks and opportuni-
ties and discussing relevant Executive Board decisions in advance. 
In fiscal 2021, it consisted of three members of the Executive 
Board (chairman of the Executive Board, Group Sustainability, 
Group Finance and Controlling) as well as the heads of the sustain-
ability functions at corporate level and group sector level and the 
heads of other relevant group functions. The committee is chaired 
by the Executive Board member for Group Sustainability and man-
aged by the head of the Group Sustainability group function. Some 
of the group sectors have their own interdepartmental sustainabil-
ity committees, which are coordinated by the relevant sustainability 
functions. 
The sustainability performance indicators are consolidated in the 
Continental Group’s sustainability scorecard, which is approved by 
the Executive Board on an annual basis. The scorecard is based on 
defined quality criteria for the indicators, is continuously developed 
further and establishes the formal basis for integrating sustainability 
into other corporate processes. 
As of fiscal 2021, the topic of sustainability has also been an inte-
gral part of the Continental Group’s strategy development. Signifi-
cant investments must be reviewed and assessed as to their contri-
bution to sustainability as a standard part of the approval process. 
For the Automotive, Tires and ContiTech group sectors, detailed 
roadmaps for the implementation of sustainability ambitions in the 
relevant topic areas are currently being drawn up in stages. 
Remuneration 
The Executive Board and global managers are measured against 
the achievement of sustainability goals. Long-term remuneration 
components (long-term incentive – LTI) are thus linked to sustaina-
bility aspects. The LTI plans are updated on an annual basis. For 
more information, see the remuneration report on our website  
under Company/Executive Board. 
Cultural change 
In order to support cultural change in the organization, we stepped 
up internal communication with respect to sustainability in fiscal 
2021, held numerous sustainability events – mostly virtual due to 
the COVID-19 pandemic – and integrated the topic into key internal 
event formats for managers. 
 
 
 
 
 
 
Inclusion of Stakeholders
Our key stakeholders and interest groups are our employees 
and customers, the capital market, public policymakers, actors 
in civil society, and suppliers. We maintain a regular, ongoing 
dialog via various channels with all relevant stakeholders on  
issues relevant to the company and society as a whole. 
› Customers: e.g. via sales departments or key account man-
agement, cooperative undertakings, and trade fairs 
› Investors and shareholders: e.g. via the annual shareholders’ 
meeting, webcasts, and roadshows 
› Employees: e.g. via town hall meetings, employee surveys, 
webcasts, and employee representatives 
› The general public, e.g. via surveys, trade fairs, engagement 
projects, and open-house events  
The aim of these efforts is to bring together different perspec-
tives, discuss any conflicting points of view that arise, and to 
learn from one another.  
In the first quarter of 2019, we conducted a global stake-
holder survey to initiate a dialog on the key sustainability is-
sues for Continental, and to further develop our sustainability 
strategy. More than 1,700 stakeholders across all groups re-
sponded to this survey.  
The results of this survey, along with further analyses and  
new ideas, are continuously incorporated into the process of 
further developing our sustainability strategy and reporting. 
Sustainability Management in the 
Continental Group 
In the Spotlight

Continental AG  2021 Integrated Sustainability Report  Corporate Profile  Sustainability Management in the Continental Group 
15
 
Steering of Sustainability in the Continental Group

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Carbon Neutrality 
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Management Approach  
Source: 2021 Annual Report > Management Report > Corporate Profile >  
Sustainability and Combined Non-Financial Statement (
 starting p. 36) 
 
Note: This section relates to continuing and discontinued operations, with the 
exception of performance indicators for the financial year 2021. 
 
Carbon neutrality 
Our ambition 
As set out in our sustainability ambition, we strive for 100% carbon 
neutrality along our entire value chain (products, operations and 
supply) by 2050 at the latest, together with our partners along the 
value chain. 
Of central importance for our ambition are the requirements and 
speed of transformation of our customers, industries and markets. 
Concept 
We have set ourselves the corporate target of achieving carbon 
neutrality throughout our production processes – in terms of Scope 
1 and market-based Scope 2 CO2 emissions in accordance with the 
Greenhouse Gas (GHG) Protocol – by 2040. We aim to achieve this 
by means of three measures in particular: 
› Switching our reported supply of energy to renewable energy,  
including through special electricity supply agreements and the 
purchase of energy attribute certificates. 
› Implementing energy efficiency measures and using new tech-
nologies. 
› Reviewing the neutralization of remaining emissions. 
The corporate target of carbon neutrality throughout our produc-
tion processes is managed by the Group Environmental and Climate 
Protection group function as part of the corporate roadmap for de-
carbonization. The group sectors are each responsible for the im-
plementation of appropriate measures and must report on this in-
ternally on a regular basis. 
Scope 1 and market-based Scope 2 CO2 emissions have also been 
part of the LTI plans for the members of the Executive Board and 
global managers since fiscal 2020. For more information, see the 
remuneration report on our website  under Company/Executive 
Board. 
In addition, we have identified various effective levers for achieving 
carbon neutrality beyond our own production processes and 
throughout the value chain (Scope 3 CO2 emissions in accordance 
with the GHG Protocol) by 2050 at the latest. These relate to the 
use phase of our products, coupled with the global shift toward 
emission-free mobility and industries, product design and the con-
version of materials used to renewable and recycled materials, as 
well as generally a transition to circular processes. For more infor-
mation on our concepts in this respect, see the sections on emis-
sion-free mobility and industries and circular economy in this com-
bined non-financial statement. For example, it will be necessary to 
switch to green electricity along the supply chain. The Business 
Partner Code of Conduct was expanded accordingly with a view to 
carbon neutrality in the reporting year. The implementation of car-
bon neutrality throughout the value chain is managed in the indi-
vidual group sectors, each of which is responsible for implementing 
appropriate measures. This is not only the responsibility of Conti-
nental, however, but also requires sustainability efforts on the part 
of customers, suppliers and other partners. 
In order to support these efforts, we offer our customers the neu-
tralization of our business carbon backpack through negative emis-
sions from fiscal 2022, as part of our global program Net|Zero|Now. 
Carbon backpack refers to CO2 emissions produced along the 
value chain (Scope 1, 2 and 3), except for emissions related to the 
customer and product use. The offer focuses on business with 
zero-tailpipe-emission vehicles, but can now also be used for other 
business. Our measure announced in the 2020 annual report as 
“carbon neutrality of the allocated business with zero-tailpipe-emis-
sion vehicles” is thus developed further. 
The Continental Group’s 2040 climate goal and 2050 ambition 
were reviewed by the Science Based Targets initiative (SBTi) in 
2020. On the basis of the method used, the linear derivations for 
2030 were validated and confirmed as being compliant with the 
Paris climate agreement. The derived absolute emission reductions 
for Scope 1 and Scope 2 are set to keep us on track for the 1.5°C 
pathway. 
Results of the concept 
Scope 1 and market-based Scope 2 CO2 emissions, i.e. own CO2 
emissions, amounted to 1.05 million metric tons in fiscal 2021  
(PY: 0.99 million metric tons including Vitesco Technologies). The 
increase is attributable to various causes, in particular higher en-
ergy consumption (e.g. as a result of uninterrupted production op-
erations with the exception of pandemic-related stoppages) and 
the completion of data collection. This previously covered the rele-
vant production and research and development locations and now 
for the first time also includes the rest of the – mostly smaller –  
locations within the Continental Group. 
Following the switch to green electricity for reported energy con-
sumption in fiscal 2020, Continental’s total CO2 emissions have 
been reduced by 70% compared with fiscal 2019, as this green 
electricity produces no CO2 emissions. Appropriate energy attribute 
certificates were purchased for the full volume of reported electric-
ity consumption not already covered by other instruments (such as 
green electricity contracts). Due to national register processes, not 
all deletions of energy attribute certificates were available for small 
residual quantities at the time the report was prepared.
 
 
Development of Material Sustainability 
Topic Areas 
Carbon Neutrality

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Carbon Neutrality 
17
 
Carbon neutrality performance indicators1 
20212 
20204 
Direct CO2 emissions (Scope 1) in millions of 
metric tons of CO2  
0.82 
0.785 
Indirect CO2 emissions (Scope 2) in millions of 
metric tons of CO23  
0.23 
0.21 
Total own CO2 emissions (Scope 1 and 2)  
in millions of metric tons of CO2  
1.05 
0.99 
 
 
 
1 Definitions in accordance with the GHG Protocol. Scope 1 includes emissions from 
the burning of fossil fuels as part of Continental’s own processes, and Scope 2 
includes emissions from purchased electricity, steam and heat. CO2 emission factors 
correspond to CO2 equivalents (CO2e). 
2 Contains a small amount of imputed data for parts of the Continental Group that did 
not report data directly. 
3 Calculated using the market-based calculation method of the GHG Protocol. Where 
contract-specific emission factors were not available, the standard emission factors 
from Defra (September 2020) were used. 
4 Includes the relevant production and research and development locations. 
5 CO2 emissions from fleet consumption for company cars (leased vehicles) are only 
partially and not systematically included. 
 
 
 
Climate Scenario Analysis 
Continental uses various elements of scenario techniques to de-
velop, implement and further develop the company’s climate strat-
egy. In fiscal 2020, we analyzed various projections, extrapolations 
and retropolations as well as strategies and scenarios from custom-
ers, governments and institutions with a particular focus on further 
advancing our path toward carbon neutrality. For Continental, such 
analysis always focuses on the impacts on Continental and our 
markets. Some of the scenarios considered assume that carbon 
neutrality would have to be achieved before 2050, or in the case of 
a 1.5°C path even much earlier, while other considerations assume 
that carbon neutrality will actually not be achieved globally until af-
ter 2050. Continental is therefore expecting our customers, indus-
tries and markets to proceed at differing speeds. Accordingly, we 
took into account in our sustainability ambitions that we want to 
achieve complete carbon neutrality by 2050 at the latest, but pos-
sibly also before 2050. The individual scenarios are used to enable 
comparison with global objectives, to better identify potential op-
portunities and risks, and to adapt to various developments at an 
early stage. Continental’s climate targets were also reviewed by the 
Science Based Targets initiative (SBTi) against specific global reduc-
tion paths and climate scenarios. The SBTi confirmed that the tar-
gets for own emissions (Scope 1 and 2 of the Greenhouse Gas 
(GHG) Protocol) correspond to a 1.5°C path, while for Scope 3 the 
linear derivations for 2030 were validated on the basis of the 
method used and confirmed as being compliant with the Paris  
Climate Agreement and a path well below 2°C. 
Continental Group Roadmap for 
Decarbonization  
Continental’s global production is to be completely carbon-neutral 
by 2040 at the latest. Already all reported electricity purchased in 
fiscal 2020 was made carbon-neutral, for example through special 
power purchase agreements and by purchasing of energy attribute 
certificates (EAC). This has already enabled the company to signifi-
cantly reduce its own CO2 emissions (Scopes 1 and 2). The initial 
reduction achieved in fiscal 2020 compared to fiscal 2019 marked 
a decrease of 70%.  
Reducing the remaining CO2 emissions in Scopes 1 and 2 will re-
quire transforming our production processes and shifting techno-
logically toward the use of new technologies. Two key measures in 
this context include increasing the energy efficiency of plants, sys-
tems, and machinery, for example, and switching to renewable en-
ergy sources, e.g. green hydrogen or biomass. 
These transformation efforts are managed centrally by a project 
team called the “Decarbonization Roadmap 2040,” staffed and 
functioning across all Continental group sectors and business ar-
eas. Initial results that the project achieved in fiscal 2021 included 
clearly defined interim targets up to 2040, a global digital monitor-
ing platform for regulatory frameworks and alternative energy 
sources, and a key performance indicator (KPI) dashboard that em-
ployees can use to transparently track the progress made towards 
decarbonization. The global financial assessment scheme for in-
vestments is currently being adapted, and an internal CO2 price in-
troduced with an eye to promoting climate-friendly projects in fu-
ture.  
 
 
78.1
21.8
Total own CO2 emissions 2021 (1.05 million metric tons of 
CO2) in %1, 2, 3
Scope 2 
emissions
Scope 1 
emissions
1  Definitions in accordance with the GHG Protocol. Scope 1 includes emissions 
from the burning of fossil fuels as part of Continental’s own processes, and 
Scope 2 includes emissions from purchased electricity, steam and heat. CO2
emission factors correspond to CO2 equivalents (CO2e).
2 Contains a small amount of imputed data for parts of the Continental Group 
that did not report data directly.
3 Calculated using the market-based calculation method of the GHG Protocol. 
Where contract-specific emission factors were not available, the standard 
emission factors from Defra (September 2020) were used.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Carbon Neutrality 
18
Indirect CO2 Emissions Along the Value Chain (Scope 3) 
In fiscal 2021, total indirect CO2 emissions along the value chain 
(Scope 3) amounted to 108.89 million metric tons of CO2. (PY: n. a.). 
The CO2 emission factors correspond to CO2 equivalents (CO2e). 
The figures for fiscal 2021 comprise, for the first time, all 15 cate-
gories of the GHG Protocol. These relate only to continuing opera-
tions and therefore no longer include the CO2 emissions of Vitesco 
Technologies (cf. Remarks Regarding Reporting, p. 6).  
The largest categories in Scope 3 are “Use of sold products” and 
“Purchased goods and services,” for which the most significant ab-
solute changes compared to the previous year are also present. 
The reduction for “Purchased goods and services” results in partic-
ular from the absence of CO2 emissions from Vitesco Technologies. 
The increase for “Use of sold products” is due to the increase in the 
product weight sold or tires sold as well as changes to accounting 
factors. 
Indirect CO2 emissions along the value chain (Scope 3) in millions of metric tons of 
CO21 
2021 
2020 
Primary data base  
Category 1: indirect CO2 emissions (Scope 3) – Purchased goods and services  
12.90 
14.65 
Purchased weight, service expenses 
Category 2: indirect CO2 emissions (Scope 3) – Capital goods  
1.23 
n. a. 
Property, plant and equipment expenses 
Category 3: indirect CO2 emissions (Scope 3) – Fuel- and energy related activities  
(not included in Scope 1 and 2) 
0.61 
0.41 
Energy consumption  
Category 4: indirect CO2 emissions (Scope 3) – Upstream transportation and distribution  
0.47 
0.70 
Logistics expenditures 
Category 5: indirect CO2 emissions (Scope 3) – Waste generated in operations  
0.04 
0.04 
Waste generation  
Category 6: indirect CO2 emissions (Scope 3) – Business travel  
0.02 
0.02 
CO2 data of service providers 
Category 7: indirect CO2 emissions (Scope 3) – Employee commuting  
0.19 
n. a. 
Employee survey 
Category 8: indirect CO2 emissions (Scope 3) – Upstream leased assets 
0.02 
n. a. 
Number of logistics warehouse locations 
Category 9: indirect CO2 emissions (Scope 3) – Downstream transportation  
and distribution 
0.30 
0.50 
Logistics expenditures, expert assessment 
Category 10: indirect CO2 emissions (Scope 3) – Processing of sold products2 
1.42 
1.42 
Product weight  
Category 11: indirect CO2 emissions (Scope 3) – Use of sold products3 
87.95 
86.88 
Number of tires, product weight 
Category 12: indirect CO2 emissions (Scope 3) – End-of-life treatment of sold products 
3.66 
3.42 
Product weight  
Category 13: indirect CO2 emissions (Scope 3) – Downstream leased assets  
0.01 
n. a. 
Number of buildings leased and rental income 
for leased equipment 
Category 14: indirect CO2 emissions (Scope 3) – Franchises  
0.01 
n. a. 
Locations 
Category 15: indirect CO2 emissions (Scope 3) – Investments  
0.05 
n. a. 
Sales of equity accounted investees 
Total indirect CO2 emissions along the value chain (Scope 3) 
108.89 
n. a. 
  
 
 
 
 
1 Definitions in accordance with the GHG Protocol. CO2 emission factors correspond to CO2 equivalents (CO2e). Optional reporting aspects for Scope 3 are currently not taken 
into account. 
2 Excluding the industrial business of the ContiTech business area due to an accounting approach that is currently missing. 
3 Excluding the industrial business of the ContiTech business area due to an accounting approach that is currently missing as well as single business operations insignificant in 
terms of CO2 of the Automotive Technologies group sector (two-wheel business) and the Tires business area (e.g. ContiTrade business, parts of the Speciality Tires business unit).  
 
Particular Information About Calculating Scope 3 Emissions 
CO2 emissions are calculated in accordance with the Corporate 
Value Chain (Scope 3) Accounting and Reporting Standards 2011. 
In accordance with the company’s financial reporting and, accord-
ingly, its sustainability reporting, operational control was used as 
the consolidation approach (see also Information on Reporting, 
page 6). 
In most cases and where not otherwise specified, the calculation is 
based on the company’s own primary data. Only the calculation of 
the categories “Business travel” and “Investments” was carried out 
using external primary data. In addition, external secondary data 
such as emission factors from Defra (Full set, Version 2.0, 2021) 
and Sphera (GaBi, version 10.6.0.110) were used, as well as other 
factors. 
The calculation approaches and datasets applied are explained  
below for each report category:  
Category 1: Purchased goods and services 
The weight for purchased product groups was multiplied by the 
specific emission factors of GaBi or internally determined group 
sector- and business area-specific CO2 factors.  
For purchased product groups for which not all weight information 
was available, the missing share was determined through calcula-
tions. For this purpose, the missing value was extrapolated using  
either the number of units or the expenditures.  
The expenditures for services were multiplied either by the specific 
emission factors from Defra or by an internally determined emis-
sion factor. For this purpose, a small volume of expenditure classifi-
cations have been extrapolated.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Carbon Neutrality 
19
 
Category 2: Capital goods 
The expenditures for property, plant and equipment were multi-
plied either by the specific emission factors from Defra or by an in-
ternally determined emission factor. For this purpose, a small vol-
ume of expenditure classifications have been extrapolated. 
Category 3: Fuel- and energy-related activities (not included in 
Scopes 1 and 2) 
Energy consumption was multiplied by the specific emission fac-
tors from Defra.  
Category 4: Upstream transportation and distribution 
The transportation performance for each mode of transport (road, 
rail, sea, and air) determined through calculations on the basis of lo-
gistics expenses were multiplied by the specific emission factors of 
GaBi. Representative routes and internal expert assessments were 
used to determine transportation performance. 
Category 5: Waste generated in operations 
Waste generation was multiplied by the specific emission factors 
from Defra.  
Category 6: Business travel 
CO2 emissions for business trips were surveyed from among travel 
booking service providers. In order to cover business trips that may 
not have been booked via these service providers, internal expert 
assessments for this portion were also used.  
Category 7: Employee commuting 
Commuting mileage and means of transport were determined by 
means of a survey of employees worldwide. The random sample 
taken was extrapolated to the entire workforce and multiplied by 
relevant internal and external factors such as sick days and vaca-
tion days as well as specific emission factors from Defra. 
Category 8: Upstream leased assets 
Significant upstream leased assets are already accounted for under 
Scope 1 and Scope 2. The rented logistics warehouses that have 
not already been reported were identified as additional assets to be 
reported. These were multiplied by an internally determined CO2 
factor. The data were supplemented by internal expert assess-
ments. 
Category 9: Downstream transportation and distribution 
The logistics paid by the customer were extrapolated from Conti-
nental to the customer as well as internal expert assessments on 
the basis of Continental’s own logistics emissions (“Upstream trans-
portation and distribution”).  
Category 10: Processing of sold products 
With the help of the product weight sold and the average vehicle 
weight based on market data, a virtual vehicle quantity was mod-
eled, and this quantity multiplied by the Scope 1 and Scope 2 emis-
sions per vehicle manufactured by selected automotive manufac-
turers. The calculation therefore relates exclusively to Continental’s 
vehicle business, and thus does not currently include the industrial 
business of the ContiTech business area. 
Category 11: Use of sold products 
The product weight sold for the Automotive Technologies group 
sector and the ContiTech business area, as well as the number of 
tires sold for the Tires business area, were calculated with emission 
factors and other assumptions. The EU tire label classes were also 
taken into account in the Tires business area.  
In particular, the following assumptions were applied:  
› The emission factor for passenger cars and light commercial ve-
hicles comes from the International Council on Clean Transporta-
tion (ICCT) (January 2022). 
› The emission factor for heavy to medium commercial vehicles 
comes from Defra. 
› A service life of 200,000 km was assumed for passenger cars 
and light commercial vehicles (source: 2020 Sustainability Re-
ports of Volkswagen and Daimler). 
› For heavy to medium commercial vehicles, a service life of 
1,000,000 km was assumed (source: internal expert assessment).  
› The average vehicle weights for passenger cars and light com-
mercial vehicles come from EEA (source: European Environment 
Agency 2021). 
› The average vehicle weights for heavy to medium commercial 
vehicles come from IHS 2021 (access subject to a charge). 
› The Tire’s share of CO2 emissions as well as other assumptions 
such as tire service life and the number of tires per vehicle are 
based on internal expert assessments and published industrial 
data. 
› Bicycle tires were reported as zero CO2 emissions since they do 
not cause direct CO2 emissions during the use phase. 
The calculation therefore relates exclusively to Continental’s vehicle 
business in passenger cars and light commercial vehicles as well as 
heavy to medium commercial vehicles, and thus does not currently 
include, in particular, the industrial business of the ContiTech busi-
ness area or the business operations insignificant in terms of CO2 
of the Automotive Technologies group sector (two-wheel business) 
and the Tires business area (e.g. ContiTrade business, parts of the 
Speciality Tires business unit).  
Category 12: End-of-life treatment of sold products 
The product weight sold was multiplied by the specific emission 
factors of GaBi in accordance with the disposal and recycling type. 
Internal expert assessments and industrial data were used in the 
classification of disposal and recycling type.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Carbon Neutrality 
20
 
Category 13: Downstream leased assets 
The leased buildings were multiplied by an internally determined 
emission factor. The leased equipment items (e.g. machinery) were 
multiplied by a specific emission factor from Defra. In order to in-
clude any leasing agreements that have not already been reported, 
internal expert assessments regarding this portion were also used.  
Category 14: Franchises 
The number of franchise locations was multiplied by internally de-
termined emission factors and specific emission factors from Defra.  
Category 15: Investments 
Sales of equity-accounted investees in financial reporting were mul-
tiplied by the portion of Continental’s financial contribution and the 
average of Continental’s own CO2 emissions (Scopes 1 and 2) per 
euro of sales. In the event that sales could not be calculated, CO2 
emissions were extrapolated based on the number of these compa-
nies. 
 
 
CO2 balance sheet of the Continental Group
The total CO2 balance sheet is based on the audited Scope 1, 2 and 
3 emissions, which can be found on pages 17 and 18 in this inte-
grated sustainability report.  
In fiscal 2021, the Continental Group’s total carbon footprint, which 
includes the Scope 1, 2 and 3 CO2 emissions in accordance with 
the GHG Protocol, amounted to 109.94 million metric tons of CO2. 
(PY: n. a.). Total Scope 3 CO2 emissions account for 99% of this 
overall total footprint. 
The total gross carbon backpack of Continental’s businesses 
measures the CO2 emissions that can be directly or indirectly influ-
enced by Continental that arise up until the goods are handed over, 
and for the product's end of life. It therefore includes all of Conti-
nental’s own CO2 emissions (Scopes 1 and 2) as well as indirect 
Scope 3 CO2 emissions for the reporting categories “Purchased 
goods and services”, “Capital goods”, “Fuel- and energy-related ac-
tivities (not included in Scopes 1 and 2)”, “Upstream transportation 
and distribution”, “Business travel”, “Employee commuting”, “Up-
stream leased assets” and “End-of-life treatment of sold products”. 
The total gross carbon backpack of Continental’s businesses com-
prised 20.19 million metric ton of CO2. (PY: n. a.).  
Since no negative CO2 emissions could be added yet in fiscal 2021 
as a result of carbon removal (PY: n. a.), the gross carbon backpack 
with 20.19 million metric tons of CO2 (PY: n. a.) corresponds to the 
net carbon backpack, which we define as the gross carbon back-
pack plus the negative CO2 emissions from the removal of CO2.  
Continental has only limited influence over most of its carbon foot-
print. We measure this part as total CO2 emissions related to the 
customer and product use, including indirect Scope 3 CO2 emis-
sions for “Downstream transportation and distribution”, “Processing 
of sold products”, “Use of sold products”, “Downstream leased as-
sets”, “Franchises” and “Investments”. This amounted to 89.75 mil-
lion metric tons of CO2. (PY: n. a.). The key lever for reducing these 
CO2 emissions is to expand our emission-free mobility business. For 
more information, see the section on emission-free mobility and in-
dustries on page 22. 
CO2 balance sheet in millions of metric tons of CO21 
2021 
2020 
Total own CO2 emissions (Scope 1 and 2) 
1.05 
0.99 
Total indirect CO2 emissions along the value chain (Scope 3) 
108.89 
n. a. 
Total carbon footprint (Scope 1, 2 and 3) 
109.94 
n. a. 
Total customer and product use-related CO2 emissions2 
89.75 
n. a. 
Total gross carbon backpack of Continental businesses3 
20.19 
n. a. 
Total negative CO2 emissions by carbon removals4 
0.00 
n. a. 
Total net carbon backpack of Continental businesses5 
20.19 
n. a. 
 
 
 
1 Definitions in accordance with the GHG Protocol. CO2 emission factors correspond to CO2 equivalents (CO2e).  
2 Definition: The customer and product use-related CO2 emissions measure the CO2 emissions over which Continental has no influence or only limited influence, and include 
indirect Scope 3 CO2 emissions for the reporting categories “Downstream transportation and distribution”, “Processing of sold products”, “Use of sold products”, “Downstream 
leased assets”, “Franchises” and “Investments”.  
3 Definition: The total gross carbon backpack of Continental’s businesses measures the CO2 emissions that can be directly or indirectly influenced by Continental and which arise 
up until the goods are handed over, and for the product’s end of life. It therefore includes all own CO2 emissions (Scopes 1 and 2) as well as indirect Scope 3 CO2 emissions for 
the reporting categories “Purchased goods and services”, “Capital goods”, “Fuel- and energy-related activities (not included in Scope 1 or 2)”, “Upstream transportation and 
distribution”, “Business travel”, “Employee commuting”, “Upstream leased assets” and “End-of-life treatment of sold products”. 
4 Only those negative CO2 emissions due to carbon removal that are purchased as part of the Net|Zero|Now global customer program.  
5 Definition: The total net carbon backpack of Continental’s businesses includes the gross carbon backpack as well as the total negative carbon emissions due to removal of CO2.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Carbon Neutrality 
21
 
Carbon-Neutral Business with 
Net|Zero|Now 
Together with our partners along the value chain, we are imple-
menting short-, medium- and long-term measures aimed at achiev-
ing an entirely carbon-neutral value chain by 2050 at the latest 
(see page 16). In doing so, we take into account the varying re-
quirements and speed of transformation of our customers, indus-
tries and markets. 
In addition to innovative and sustainable products, we are already 
offering our customers the opportunity to achieve complete car-
bon neutrality for their business with Continental along the entire 
value chain. As part of its global program Net|Zero|Now, Continental 
will be offering its customers the neutralization of the carbon back-
pack of our business, which remains after reduction measures, 
through negative emissions, as of fiscal 2022. 
The carbon footprint relates to the CO2 emissions generated along 
the value chain (Scopes 1, 2, and 3), except for the emissions re-
lated to the customer and product use contained therein (see 
page 20). The offer focuses on business with zero-tailpipe-emission 
vehicles (see page 22), which, in the best case scenario, already 
use renewable energy sources during their use phase, and can also 
use the program to neutralize Continental’s share of the carbon 
footprint. To this end, we are investing in certified reforestation pro-
jects that absorb CO2 from the atmosphere. And we are also con-
tributing to the restoration of ecosystems. Furthermore, the pro-
gram is no longer limited to these business operations, but can 
now also be applied to other business beyond zero-tailpipe-emis-
sion vehicles. The Net|Zero|Now program supplements, and thus 
rounds off, the range of reduction measures with a component that 
is already able to achieve carbon neutrality for the included busi-
ness without curbing our reduction efforts. The program is there-
fore aimed in particular at customers with ambitious climate tar-
gets and programs.    
Simplified Principle of Net|Zero|Now  
 
We deliberately opted for negative emissions for our neutralization 
efforts. Negative emission measures – also known as greenhouse 
gas removal (GGR) – remove CO₂ from the atmosphere. They are 
an integral part of the net zero carbon footprint concept required in 
line with the Paris Climate Agreement. Accordingly, carbon neutral-
ity means that no more emissions are produced than are removed 
from the atmosphere. To achieve this, emissions need to be re-
duced to a minimum and existing emissions must be offset, so that 
ultimately the carbon footprint comes out to “net zero”. Hence, neg-
ative emissions are still necessary in order to achieve complete car-
bon neutrality for a product or business today. Negative emissions 
are thus reducing the burden on the global carbon budget and are 
a valuable addition to comprehensive reductions. 
To calculate what volume of negative emissions needs to be gener-
ated, the carbon footprint for the business recognized in the pro-
gram was determined on the basis of the reported Scope 1, 2, and 
3 emissions in accordance with the Greenhouse Gas Protocol. 
These calculated emissions are then neutralized by an equal 
amount of negative emissions. The projects used for this purpose 
are purchased by recognized partners. In doing so, we attach im-
portance to projects certified exclusively in accordance with inter-
national standards, to complete long-term projects, a variety of pro-
jects, social aspects, to safeguarding reductions, and other quality 
criteria.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Emission-free Mobility and Industries 
22
 
Management Approach  
Source: 2021 Annual Report > Management Report > Corporate Profile >  
Sustainability and Combined Non-Financial Statement (
 starting p. 36) 
 
Note: This section relates to continuing and discontinued operations, with the 
exception of performance indicators for the financial year 2021. 
 
Our ambition 
As set out in our sustainability ambition, we strive for 100% emis-
sion-free mobility and industry by 2050 at the latest, together with 
our partners along the value chain. “Emission-free” refers to zero 
emissions of greenhouse gases and nitrogen oxides (NOx), for ex-
ample, but does not include harmless emissions such as water va-
por, non-toxic biodegradable particulate emissions or minimal noise 
emissions. 
Of central importance for our ambition are the requirements and 
speed of transformation of our customers, industries and markets. 
Concept 
Continental is shaping the transformation toward emission-free mo-
bility and emission-free industries with customer-oriented solutions, 
such as for electric mobility, emission-free railway engineering, bicy-
cles and wind turbines. In doing so, we rely both on new product 
developments and on the further development of our existing 
product portfolio. 
The respective group sectors and business areas are responsible 
for implementing the sustainability ambition. To this end, relevant 
aspects have been and will continue to be incorporated in portfolio 
analyses, and are included in the strategy and business develop-
ment processes for the group sectors and business areas. 
For the implementation of our concept with respect to emission-
free mobility and industries., we record our allocated business with 
emission-free mobility and industries as a performance indicator. 
This consists of allocated business with zero-tailpipe-emission vehi-
cles as well as allocated low-carbon business beyond business with 
zero-tailpipe-emission vehicles. Only all clearly allocated sales are 
recorded. In terms of vehicles, these include sales of tires, displays, 
sensors, electronic control units, artificial leather and hoses for 
emission-free passenger cars and trucks, as well as air springs for 
emission-free trains and trams; in terms of other business, they in-
clude sales of hoses for wind turbines or photovoltaic systems. 
Results of the concept 
In fiscal 2021, the allocated business with emission-free mobility 
and industries amounted to a total of €991 million (PY: n. a.). The  
allocated business with zero-tailpipe-emission vehicles accounted 
for the largest share at €986 million (PY: €826 million including 
Vitesco Technologies). Despite the absence of corresponding sales 
for Vitesco Technologies, business with emission-free mobility and 
industries therefore increased considerably in fiscal 2021. This is 
attributable in particular to the growing market success of electric 
mobility, since Continental’s products can now be found in many 
mass-produced models. 
Emission-free mobility and industries 
performance indicators 
2021 
2020 
Allocated business with zero-tailpipe-emission 
vehicles in millions of euros1, 2 
986 
826 
Allocated low-carbon business beyond business 
with zero-tailpipe-emission vehicles in millions of 
euros3 
6 
n. a. 
Allocated business with emission-free mobility 
and industries in millions of euros 
991 
n. a. 
 
 
 
1 Definition: allocated business with zero-tailpipe-emission vehicles comprises all 
business with products for vehicles transporting goods and people that count as 
Taxonomy-eligible low-carbon technologies for transport under the delegated 
regulation (2021/2800) for climate change mitigation and adaptation of the 
Taxonomy Regulation (2020/852). 
2 The business can be allocated via the vehicle manufacturer, the vehicle platform  
or the product specification, for example. The data includes both pure business and 
attributable business, such as in the case of combined vehicle platforms. For the 
Tires, ContiTech and Contract Manufacturing business areas, the sales reported at  
the end of the year were included. For Contract Manufacturing, this was based on  
an estimation by the customer Vitesco Technologies. In the case of the Automotive 
Technologies group sector, a calculation was carried out for passenger cars and light 
commercial vehicles using internal, vehicle-specific planning data for sales and 
external data for production quantities, and for medium and heavy commercial 
vehicles this was based on the relevant customer portfolio. 
3 Definition: allocated low-carbon business beyond business with zero-tailpipe-emission 
vehicles measures business that enables our customers to significantly contribute to 
climate change mitigation and is considered Taxonomy-eligible under the delegated 
regulation (2021/2800) for climate change mitigation and adaptation of the 
Taxonomy Regulation (2020/852), excluding low-carbon technologies for transport. 
 
 
Emission-free Mobility and Industries

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Emission-free Mobility and Industries 
23
 
 
Allocated Business with Zero-Tailpipe-Emission-Vehicles – Product Examples 
The transformation of mobility, combined with the end of clas-
sic combustion engine drives, is a megatrend, in which Conti-
nental is already participating. In fiscal 2021, our allocated 
business with zero-tailpipe-emission vehicles amounted to just 
€1 billion. Sales have already increased significantly compared 
to the previous year. We expect further growth in the future.  
The chart below provides an exemplary overview of which 
Continental products are currently part of this growth market 
and are covered in the above-mentioned sales for allocated 
business with zero-tailpipe-emission vehicles. 
 
In the Spotlight

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Circular Economy 
24
 
Management Approach  
 
Our ambition 
As set out in our sustainability ambition, we strive for 100% closed 
resource and product cycles by 2050 at the latest, together with 
our partners along the value chain. 
Of central importance for our ambition are the requirements and 
speed of transformation of our customers, industries and markets. 
Concept 
The switch to a circular economy is a profound and complex trans-
formation process for Continental, which at the same time is highly 
relevant for the achievement of other sustainability ambitions of 
the company. The group sectors are responsible for implementing 
circularity, in particular with respect to product design, business 
models, material use and material procurement. They have each 
started to design and/or implement specific initiatives and projects 
that are aimed at improving circularity. Examples include the use of 
recycled materials, the reprocessing of products and the reduction 
or substitution of resource inputs. 
With regard to operational waste management, as a further key 
component of the circular economy, we have set ourselves the  
corporate target of increasing the waste recycling quota to 95%  
by 2030. Waste recycling includes material recycling, thermal  
recovery or any other form of recycling or reuse. 
The implementation of the corporate target is managed by the 
Group Environmental and Climate Protection group function as 
part of operational environmental management. For more infor-
mation on the organization of operational environmental manage-
ment, see the section on green and safe factories in this combined 
non-financial statement. The waste recycling quota has also been 
part of the LTI plans for the members of the Executive Board and 
global managers since fiscal 2020. For more information, see the 
remuneration report on our website  under Company/Executive 
Board. 
Results of the concept 
The waste recycling quota was at 81% in fiscal 2021 (PY: 81% in-
cluding Vitesco Technologies) and was therefore on a par with the 
previous year, despite the discontinued reporting of waste recycling 
from Vitesco Technologies. This is attributable primarily to the com-
pletion of data collection. This previously covered the relevant pro-
duction and research and development locations and now for the 
first time also includes the rest of the – mostly smaller – locations 
within the Continental Group. 
Circular economy performance indicator  
20212 
20203 
Waste recycling quota in %1 
81 
81 
 
 
 
1 Definition: proportion of waste that has been sent for material recycling, thermal 
recovery or any other form of recycling or reuse. 
2 Contains a small amount of imputed data for parts of the Continental Group that did 
not report data directly. 
3 Includes the relevant production and research and development locations. 
 
 
 
 
In a circular economy, there is no waste, only material in the wrong place
 
 
 
Circular Economy 
Source: 2021 Annual Report > Management Report > Corporate Profile >  
Sustainability and Combined Non-Financial Statement (
 starting p. 36) 
 
Note: This section relates to continuing and discontinued operations, with the 
exception of performance indicators for the financial year 2021. 
In the Spotlight

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Circular Economy 
25
 
Product Examples from the Group Sectors and Business Areas
Tires 
Conti GreenConcept – Low Resource Consumption Along 
the Value Chain 
With the Conti GreenConcept tire concept presented for the 
first time at IAA Mobility in fiscal 2021, Continental is empha-
sizing its vision of being the most progressive tire along the 
value chain target by 2030. The integrated sustainable tire 
concept aims to keep resource consumption particularly low 
along the value chain for tires: from the sourcing of the materi-
als to production and right through to extending service life or 
useful life.  
To this end, we rely on innovative lightweight construction 
methods, a renewable and functional tread and a particularly 
high proportion – over 52% – of renewable and recycled raw 
materials.  
Thanks to the innovative lightweight construction method, the 
rolling resistance of the Conti GreenConcept tire is also around 
25% lower than that of tires with rolling resistance class A ac-
cording to the EU tire label, making it the best in this range.  
The tread of the Conti GreenConcept can be exchanged sev-
eral times and with little time and material effort. In addition, 
the latest generation Continental sensor continuously moni-
tors temperature, pressure and tread depth inside the tire. 
Polyester yarn made from recycled PET is being used for the 
first time. From 2022, Continental will allow the introduction of 
polyester yarn in passenger car tire production, which will be 
produced from plastic bottles that have been recycled. 
ContiTech  
New TPO film –Designed for Recycling 
The focus is not only on the drive system, but also on the path 
to sustainable mobility of the future. Components for vehicle 
interiors are also manufactured in an increasingly resource-ef-
ficient way. One example is the new TPO film: this plasticizer-
free surface material for automotive interiors can be efficiently 
recycled. 
TPO material consists of olefin-based thermoplastic elasto-
mers. Bio-based polymers are made of plant waste. They thus 
absorb CO2 from the atmosphere. 
By combining thermal-mechanical recycling with bio-based 
polymers, the new TPO film becomes a product with signifi-
cantly improved CO2 balance. This has already resulted in 
components with a film solution containing 30% recyclate 
from recycled film material. In combination with chemical re-
cycling, we work on a closed circle.  
Various vehicle manufacturers use TPO film in their models: 
on instrument panels, door panels, door sills, center consoles, 
or seat backs, for example. The material saves weight and is 
equally robust, resistant to aging, and is a low-emissions prod-
uct. TPO now becomes even more attractive for monomaterial 
concepts in the development of interior components due to 
its significantly improved CO2 balance. 
Automotive Technologies 
Recycled Display Units 
Since 2015, Continental has sold several million of its double 
thin-film transistor (TFT) display worldwide, and installed them 
in vehicles in the middle and upper price segments of a major 
German automobile manufacturer. Compound technology – at 
that time an innovation – made it possible to implement visu-
ally attractive customer solutions.  
On some displays, however, a physical effect triggered by UV 
light – known as “white lining” – occurred after a few years. 
This problem can be solved by means of recycling. The dis-
plays can be broken down into their constituent components 
and reassembled in a specially developed process. Only the 
glass that was previously painted with an UV-resistant coating 
is replaced in order to prevent the negative effect from occur-
ring again. All other parts can be reused.  
In this way, 470,000 displays could theoretically be recycled in 
China alone, thereby avoiding the production of spare parts 
and generation of waste, which has a positive impact on the 
energy balance.
 
In the Spotlight

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Responsible Value Chain 
26
 
Management Approach  
 
Our ambition 
As set out in our sustainability ambition, we strive for 100% respon-
sible sourcing and business partnerships by 2050 at the latest, to-
gether with our partners along the value chain. 
Our understanding of a responsible value chain thus refers to our 
supply chain and customer relationships and to our own locations. 
Of central importance for our ambition are the requirements and 
speed of transformation of our customers, industries and markets. 
Concept 
In our Business Partner Code of Conduct, which was most recently 
updated in fiscal 2021, we define the fundamental requirements, 
among others for our suppliers, and for their suppliers, including 
with regard to human rights, working conditions, environmental 
protection, conflict minerals and anti-corruption. Violations of our 
regulations can also be reported via the Compliance & Anti-Corrup-
tion Hotline, which is available around the clock and worldwide. In 
the event that violations of our binding regulations are identified, 
we demand improvements and reserve the right to terminate the 
business relationship. For suppliers of natural rubber, our sourcing 
policy for sustainable natural rubber additionally applies. 
Before even establishing a business relationship, we screen poten-
tial suppliers by means of self-assessments as well as local audits, 
which may also include sustainability topics (such as fire protection 
and occupational safety). We assess selected suppliers with the help 
of self-assessment questionnaires, which we collect via the generally 
accepted sustainability platforms for our industries, EcoVadis and 
NQC, and the amount of which we assess at a corporate level on 
an annual basis. 
We continue to develop our approach for the responsible value 
chain further in dialog with external stakeholders and support the 
development of industry-wide standards, for example through our 
active participation in industry dialog with the German government 
on human rights in the automotive industry and through the Global 
Platform for Sustainable Natural Rubber (GPSNR). 
Responsible sourcing is the responsibility of the relevant purchas-
ing organizations, which are established at Continental by group 
sector and product group, for example, with teams in the various 
countries. A corporate purchasing network regularly deals with re-
sponsible sourcing topics as well. The Group Quality group function 
coordinates the management of conflict minerals, including the 
corresponding reporting processes. 
More information on the implementation of a responsible value 
chain with regard to our own locations can be found in the following 
sections on good working conditions and green and safe factories. 
In the reporting year, under the leadership of the Group Sustaina-
bility group function, a corporate project was launched for the  
implementation of the German Supply Chain Due Diligence Act 
(Lieferkettensorgfalts-pflichtengesetz – LkSG), which will enter into 
force in 2023. 
Results of the concept 
With regard to the sourcing of sustainable natural rubber, the piloted 
approaches for traceability have been further expanded upon as 
part of the Rubberway project and collaboration with the German 
Society for International Cooperation (Deutsche Gesellschaft für  
Internationale Zusammenarbeit – GIZ) in Indonesia. 
As at December 31, 2021, 631 valid supplier self-assessment ques-
tionnaires were available via the two sustainability platforms EcoVa-
dis and NQC (PY: 696 including Vitesco Technologies). This corre-
sponds to a completion rate of 53% of suppliers selected for this 
process (PY: 59% including Vitesco Technologies). The decline in 
the number of available valid self-assessment questionnaires and 
the lower completion rate are due in particular to a large number  
of self-assessment questionnaires completed by suppliers that have 
expired and need to be renewed, and, to a lesser extent, to the spin-
off of Vitesco Technologies.  
Responsible value chain performance indicator  
2021 
2020 
Number of available valid supplier self-assess-
ment questionnaires (as at December 31)1 
631 
696 
 
 
 
1 Based on the self-assessment questionnaires via the sustainability platforms EcoVadis 
and NQC completed by suppliers selected for this process. 
 
 
Responsible Value Chain  
Source: 2021 Annual Report > Management Report > Corporate Profile >  
Sustainability and Combined Non-Financial Statement (
 starting p. 36) 
 
Note: This section relates to continuing and discontinued operations, with the 
exception of performance indicators for the financial year 2021.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Responsible Value Chain 
27
 
Management Approach to Human Rights 
at a Glance  
Continental pursues an integrated management approach to ful-
filling its duty of care with respect to human rights. This means that 
we apply our management approach to both our supply chain and 
our customer relationships, as well as our own locations. The group 
function Group Sustainability coordinates the ongoing develop-
ment of this management approach.  
Principles, guidelines, and training 
In the corporate-wide codes of conduct for our own employees and 
our business partners as well as in the company’s sourcing policy 
for sustainable natural rubber, Continental is committed to respect-
ing human rights and the core labor standards of the International 
Labour Organization (ILO) in accordance with the United Nations 
Guiding Principles on Business and Human Rights (UNGP). We ex-
pect our business partners, including all suppliers and service pro-
viders, to drive forward the implementation of the requirements 
specified in our Code of Conduct and in our sourcing policy for sus-
tainable natural rubber in their respective supply chains as well. In 
our Business Partner Code of Conduct, which was last updated in 
fiscal 2021, we define the basic requirements for our suppliers and, 
in turn, their suppliers, with respect to human rights, working condi-
tions, environmental protection, conflict minerals, and anti-corrup-
tion, among other issues. 
Employees are informed about the Code of Conduct. In fiscal 2021, 
6,378 employees received e-learning on the Code of Conduct (PY: 
n. a.). In addition, training sessions and workshops on specific areas 
of human rights are carried out with relevant group functions in or-
der to promote the integration of human rights aspects into the rel-
evant management and decision-making processes.  
Risk analysis and mitigation  
The group function Group Security systematically analyzes and as-
sesses country-specific risks at a corporate level and makes these 
assessments available to various group functions, such as Purchas-
ing.  
Location-specific risks are analyzed and evaluated in particular by 
our local environment, occupational safety and health managers 
(ESH managers) within the framework of the local management 
systems and our network of country coordinators for labor rela-
tions. Certifications for the environmental management system 
reached a coverage level of 76% as at December 31, 2021 (PY: 
82% including Vitesco Technologies), while the occupational safety 
and health management system had a coverage of 62% of employ-
ees (PY: 69% including Vitesco Technologies).  
Prior to entering into any business relationship, we analyze and 
evaluate risks in our supply chain by means of self-assessment and, 
in some cases, on-site audits, which may also include topics with 
relevance to human rights (e.g. fire protection and occupational 
safety). We assess compliance with the sustainability requirements 
set by our Code of Conduct for Business Partners, in particular by 
means of self-assessments using the EcoVadis and NQC platforms. 
Measures for processing priority areas such as natural rubber or 
conflict minerals (incl. cobalt) have been handled by cross-group 
sector working groups. To continuously develop the responsible 
value chain approach, Continental is actively working with various 
stakeholders in cooperative industry initiatives (see page 28) on 
new joint solutions and approaches along our supply chains. 
Complaint mechanism  
Continental has set up a Compliance & Anti-Corruption Hotline to 
give its employees and third parties outside the Group the oppor-
tunity to report violations of the company’s Code of Conduct or 
suspected violations of the same. Information may also be commu-
nicated anonymously via the hotline, if permitted by law. The group 
functions Group Internal Audit, Group Security, and Group Compli-
ance review and track the information received. Confirmed viola-
tions of our Code of Conduct will be sanctioned. In the event of any 
violation of our human rights regulations by our business partners, 
Continental explicitly reserves the right to demand corrective ac-
tion or to terminate the business relationship.  
Review and reporting  
In the reporting year, a group-wide project was set up under the 
leadership of the group function Group Sustainability in order to 
implement the requirements of Germany’s Supply Chain Due Dili-
gence Act (LkSG) set to come into force in 2023. Further infor-
mation on our approach to human rights management can also be 
found in the Continental Group’s latest “Modern Slavery Statement” 
(available in English only) on the corporate website at 
 www.conti-
nental-sustainability.com.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Responsible Value Chain 
28
 
Sustainability in the Natural Rubber 
Value Chain 
In the past fiscal year, Continental further developed its manage-
ment approach for the strategic dimension of “Sustainability in the 
natural rubber supply chain,” in compliance with the human rights 
and due diligence guidelines of the Organisation for Economic Co-
operation and Development (OECD). 
For Continental, all responsibilities and obligations along the natural 
rubber supply chain are based on the “Sustainable Natural Rubber 
Sourcing Policy“ and the Business Partner Code of Conduct – both 
updated in 2021. They serve as a starting point for an active and 
responsible contribution to promoting a responsible value chain for 
the raw material. We expect our suppliers, service providers and 
partners to promote the implementation of the requirements speci-
fied in the Code of Conduct and the Sustainable Natural Rubber 
Sourcing Policy in their respective supply chains as well. By the end 
of 2023 at the latest, Continental has also set itself the goal of 
reaching all direct suppliers of Central Purchasing with its purchas-
ing policy and documenting their acknowledgement. 
Continental uses digital risk analysis systems to ensure compliance 
with the defined principles of its relevant purchasing policies. For all 
direct and centrally managed suppliers (Tier 1), we assess human 
rights, environmental and ethical risks in our suppliers’ business 
and procurement processes, in particular using verified self-infor-
mation with the help of third-party partners (EcoVadis). In the past 
fiscal year, Continental has reached more than 90% coverage by 
volume of all direct natural rubber suppliers of Central Purchasing.  
To increase transparency and sustainability along our supply 
chains, Continental is actively collaborating with multiple stakehold-
ers in various cooperative industry approaches. As a driver of inno-
vation in the natural rubber sector, Continental and its partners 
(Michelin, SMAG) announced back in 2019 the establishment of 
the “Rubberway” joint venture for digital risk analysis of the up-
stream supply chain (Tier 1 – Tier X). In the past fiscal year, Conti-
nental has reached more than 30% coverage by volume of all di-
rect natural rubber suppliers of Central Purchasing, and on track to 
reach the ambitious target of more than 95% volume by 2030. 
As a founding member of the Global Platform for Sustainable Natu-
ral Rubber (GPSNR), Continental is actively involved in the develop-
ment of global guidelines for sustainable natural rubber and con-
sistently implements the agreed guidelines. In the past fiscal year, 
Continental was elected to the Executive Committee (EC) by the 
GPSNR plenary meeting. In addition, we are actively involved in 
working groups on the platform and share relevant project experi-
ences. Furthermore. the update of our Sustainable Natural Rubber 
Sourcing Policy in 2021 was aligned with GPSNR policy compo-
nents. 
In collaboration with the Gesellschaft für Internationale Zusammen-
arbeit (GIZ) and the Federal Ministry for Economic Cooperation and 
Development (BMZ), Continental has been ensuring the traceability 
of natural rubber from the project region in West Kalimantan, Indo-
nesia, since 2018 by implementing a digital system, capacity build-
ing activities and optimization of the value chain. As part of the ca-
pacity building activities, Continental, GIZ and BMZ are also involved 
in training small farmers involved in the project in sustainable farm-
ing practices. These training sessions and optimization of the sup-
ply chain enable small farmers and their families to improve their 
income through higher raw material yields, and to encourage agro-
forestry.  
In the previous phase of our project, 450 small holders have re-
ceived training and engaged in the project. In the past fiscal year, 
1500 smallholders have been registered, trained and connected to 
Koltiva, the digital tracing system. The aim is to increase the num-
ber of small farmers participating in the program to 4,000 by 
2024. 
Starting in 2022, Continental will report annually on the status of 
the achievement of the various indicators (acceptance of the pur-
chasing policy, verified supplier self-disclosures, Rubberway pur-
chasing volume, small farmers reached in the pilot project).

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Innovation and Digitalization 
29
 
Research and Development 
Source: 2021 Annual Report > Management Report > Corporate Profile >  
Research and Development (
 starting p. 34) 
 
Mobility of the future is sustainable, 
automated and connected. 
In the future, vehicles will have a variety of powerful senses. They 
will speak the same language and communicate with their environ-
ment and the driver. They will be highly responsive and seamlessly 
interconnected, and a central intelligence system will steer them re-
liably and safely to their destination in all situations. 
Driving Planner for highly automated driving 
Continental is developing a software solution that allows vehicles to 
independently perform complex driving maneuvers. The Driving 
Planner demonstrates that automated driving is not reserved exclu-
sively for premium vehicles with special equipment. The software 
determines precise decision-making alternatives from a wide range 
of sensor data in order to automatically master complex driving 
maneuvers on the highway or expressway. The Driving Planner can 
thereby calculate traffic situations several seconds in advance and 
use this information to derive the vehicle’s appropriate response. 
One example illustrating where this new system can relieve drivers 
in the future is when entering highways via a merging acceleration 
lane. The Driving Planner calculates this complex maneuver from 
radar sensor and camera data and makes the best decision. Other 
software modules then carry out the calculated driving maneuver. 
The vehicle accelerates, merges onto the highway and then picks 
up speed according to the flow of traffic. 
The Driving Planner can calculate driving maneuvers up to a speed 
of 130 km/h. The development phase of the software system has 
been completed, and the technology is expected to be launched in 
2024. 
ShyTech displays – essential information at a glance or touch 
ShyTech displays are an innovative and intelligent solution from 
Continental that help drivers keep an eye on important information 
at all times. As modern vehicles become more and more connected 
and automated, the amount of data they process and display con-
tinues to grow. In order to visualize this wealth of information, in-
creasingly large screens are being installed in cars. However, not all 
messages are relevant in all situations, and excessive notifications 
can cause distraction and endanger driving safety. ShyTech dis-
plays increase user-friendliness and enhance safety by hiding  
potential distractions. 
If required, they can take up the entire width of the dashboard, but 
they will only become visible when needed. This is made possible 
by a semi-transparent surface that allows the screens to be seam-
lessly integrated into the surrounding panel – both visually and 
haptically. When the displays are not needed, they are practically  
invisible to the human eye. Navigation and communication infor-
mation and the touch screen menu are therefore readily available 
at all times, but the dashboard appears as if it is a single compo-
nent. The indicators and controls are only activated when a hand, 
for example, draws near the display. It is also possible to activate 
the display via voice control or by briefly tapping the screen sur-
face. The display surface is designed to imitate the look of the 
dashboard. This appearance can take many forms depending on 
the configuration; examples include wooden panels, carbon panels 
or leather-covered surfaces. In addition, it not only looks like the 
original material, but feels like it too. ShyTech innovations allow 
screens to be placed virtually anywhere in the vehicle interior.  
Continental plans to launch the ShyTech display in 2023. 
 
2021 
2020 
Research and development expenses (net) 
€ millions 
% of sales 
€ millions 
% of sales 
Autonomous Mobility and Safety 
1,082.3 
14.4 
1,005.0 
13.3 
Vehicle Networking and Information 
1,054.3 
13.2 
1,274.8 
16.1 
Tires 
293.8 
2.5 
268.0 
2.6 
ContiTech 
156.5 
2.6 
149.7 
2.7 
Contract Manufacturing 
–0.1 
0.0 
3.2 
0.3 
Continental Group 
2,586.8 
7.7 
2,700.7 
8.5 
 
  
  
  
  
Capitalization of research and development expenses 
31.5 
  
137.6 
  
in % of research and development expenses 
1.2 
  
4.8 
  
Depreciation on research and development expenses 
44.0 
  
164.6 
  
 
 
 
 
 
 
 
 
Innovation and Digitalization

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Innovation and Digitalization 
30
 
Conti GreenConcept – sustainable, lightweight, efficient 
The Conti GreenConcept from Continental leverages both current 
and emerging technological approaches to the engineering of sus-
tainable tires for passenger cars. The new concept tire is based on 
three levels: a particularly high proportion of traceable, renewable 
and recycled materials, a resource-saving, lightweight design and 
an extended service life thanks to a renewable tread. 
More than 50% of the materials used to make the Conti GreenCon-
cept are renewable or recycled. In other words, they originate from 
closed-loop cycles, have no harmful effects on people or the envi-
ronment, are responsibly sourced, and are carbon-neutral through-
out the supply chain. The proportion of renewable raw materials 
amounts to 35%. The organic materials used include natural rubber 
from dandelions (Taraxagum), silicate from the ashes of rice husks, 
as well as vegetable oils and resins. 
In addition, the Conti GreenConcept is made from 17% recycled 
materials. The materials Continental uses in the tire’s casing include 
reclaimed steel and recovered carbon black, plus – in an industry 
first – polyester from recycled polyethylene terephthalate (PET) bot-
tles. Continental is planning the gradual rollout of its ContiRe.Tex 
technology from 2022, thus paving the way for the manufacture of 
tires using polyester yarn from recycled PET bottles. The recycling 
process does without the usual intermediate chemical processing 
steps, and the resulting polyester yarn is then made functionally  
capable of handling the high mechanical forces to which tires are 
subjected. As part of the so-called upcycling process, used PET bot-
tles get a new life as high-performance polyester material. Conven-
tional passenger car tires consist of roughly 400 grams of polyes-
ter yarn each. In manufacturing a set of four tires, a total of over 
60 recycled PET bottles can be reused. 
Thanks to its lightweight design, the Conti GreenConcept is also up 
to 40% lighter than today’s standard tires. At the same time, the 
tire’s rolling resistance has been reduced. This means the vehicle 
consumes less energy, thus leading to a positive effect on the envi-
ronment. Internal combustion vehicles therefore have a greater 
mileage and lower carbon emissions, while electric vehicles can 
cover an extended range. 
AMBIENC3 – the vehicle interior of the future 
In its new AMBIENC3 concept vehicle – a converted VW microvan – 
Continental shows how driving, working and relaxing can be com-
bined in a single space. “Third space” is the term used to describe 
the underlying concept, which brings together living and working 
areas within the vehicle. 
The AMBIENC3 features new surface solutions for the floor and 
ceiling, walls, seats, recliners, storage areas and the instrument 
panel, all of which are made from innovative and sustainable mate-
rials. These are either natural and renewable, or recycled and re-
claimed. Good air quality inside the vehicle is ensured through low-
emission, low-pollutant materials, while the lightweight surfaces 
also help to reduce vehicle weight. This lowers energy consump-
tion and therefore CO2 emissions, and increases the range of elec-
tric vehicles. 
The cockpit does not contain any buttons or switches. Instead, 
thanks to shy technology, the functions are always intuitively at 
hand but not permanently displayed. Many of the functions inte-
grated into the surface are invisible at first glance when in “off” 
mode. 
Further highlights in the concept vehicle include a light and sound 
concept that creates different moods, and heatable materials. Made 
using functional printing methods, these can generate heat in sec-
onds. Other surfaces in the AMBIENC3 are distinguished by special 
attributes such as optimized dirt resistance, maximum abrasion re-
sistance and even self-repair in the event of damage. 
By the time fully automated driving has arrived – if not before – the 
time spent in cars will be used for other activities besides steering, 
accelerating and braking. Alongside the driving zone, the new con-
cept vehicle therefore also offers working and relaxing areas, each 
with their own design and materials. As more attention is focused 
on the vehicle interior, the surfaces employed here will become 
ever more important, calling for a holistic spatial concept. 
With solutions and surfaces that can be customized using digital 
printing techniques, automotive manufacturers will have numerous 
options when it comes to tailoring vehicles to their customers’ indi-
vidual requirements. 
2,701
2,587
8.5%
7.7%
2020
2021
Continental Group
Automotive Technologies
Rubber Technologies
2,280
2,137
14.8%
13.9%
2020
2021
418
450
2.7%
2.6%
2020
2021
R&D expenses (net) € millions
R&D ratio %

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Innovation and Digitalization 
31
 
 
Cybersecurity Strategy and Management 
Strategic goals of the Continental Group 
At Continental, cybersecurity, including IT security, deals with pro-
cedures for protecting all IT components connected to the com-
pany network (such as computers and servers, databases, and mo-
bile devices) and the data stored or processed on said IT compo-
nents. Our goal is to prevent attacks or unwanted activities that vio-
late the confidentiality, integrity, or availability of data. Such attacks 
and unwanted activities include theft as well as manipulation or 
sabotage of data. 
Continental Group directives  
Continental cybersecurity management is based on the industry 
standards of the ISO 27001 standard series governing information 
security. While the directives define a corporate-wide cybersecurity 
policy and a dedicated supplementary policy governing non-office 
areas, multiple manuals and standards govern the design and im-
plementation of specific topics. The Continental Group’s key 
measures include both preventive measures as well as reactive, 
mitigating ones, including monitoring and control measures in par-
ticular:  
› Preventive control measures include e.g. secure configuration of 
hardware and software, controlled access to devices and identi-
ties on the basis of necessary knowledge, software updates, vul-
nerability management, defense against malware, and efforts to 
raise user awareness. 
› Proactive control measures include e.g. collecting and testing 
data, processing incidents, measuring external hazard potential, 
as well as site inspections, service testing, and penetration tests. 
› Reactive control measures include e.g. handling incidents, protec-
tive system changes, and emergency response management. 
 
Organization and responsibilities  
The group function Cybersecurity headed up by the Group cyber-
security officer is responsible for strategic, corporate-wide cyberse-
curity management, and is supplemented by corresponding cyber-
security functions in the group sectors or business areas. Opera-
tional implementation of the security rules is the responsibility of 
group sector management and location management.  
Certifications  
As at December 31, 2021, a total of 38 locations in the Automotive 
Technologies group sector were certified to the standards of the 
Trusted Information Security Assessment Exchange (TISAX) (PY: n. 
a.). The aim is to certify all relevant locations of the Automotive 
Technologies group sector by the end of 2023.  
Ethics Regulations for Artificial 
Intelligence 
The technology field of artificial intelligence (AI) is no longer merely 
a strategically important future field for Continental, but rather an 
integral part of numerous current projects and technologies. Intelli-
gent algorithms play a major role in various areas, not just in the 
automotive industry. Areas of application within the Continental 
Group include software architecture in motor vehicles, mobile ro-
bots, autonomous mobility, automated driving, the smart factory, 
and Industry 4.0. Internal processes are also increasingly based on 
artificial intelligence. 
Yet, the global industrial and technical opportunities that AI pre-
sents are the subject of contentious social and economic debate. 
Securing the trust of our various stakeholders by using artificial in-
telligence responsibly is a matter of major concern for us. This is 
why we as a technology company are responsible for ensuring that 
all our product developments and internal processes are not only 
in line with legal standards, but also in line with ethical standards. 
In fiscal 2020, Continental developed ethics guidelines for the use 
of such self-learning systems. These ethics guidelines correspond 
to international regulations such as the EU directives on the use of 
AI (“Ethics Guideline for Trustworthy AI”). The focus is on the tracea-
bility of computer-based decisions, transparency, data security, and 
compliance with Continental’s other internal regulations, such as 
our Code of Conduct. If key work steps are taken over by artificial 
intelligence, a basic prerequisite for acceptance is that people con-
tinue to understand the growing “inner workings” of such a self-
learning system. Where does what data come from? Which compu-
ting steps lead to which actions? How is the data saved?  
The guidelines therefore include the following topics: 
› Compliance with laws, regulations, Continental rules, standards 
and instructions 
› Workplace and fair working conditions 
› Health, safety, the environment, and product integrity 
› Employee diversity, anti-discrimination, fairness in the use of AI 
› Data protection and cybersecurity when using AI 
› Confidential information, intellectual property

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Innovation and Digitalization 
32
 
 
ftcfd 
 
High-Performance Computers (HPC)  
What is a high-performance computer? 
High-performance computers (HPC) are the core element of 
new server-based vehicle architectures. They are used to cen-
tralize vehicle functions that were previously distributed 
across up to 100 control units throughout the entire vehicle. 
High-performance computers are characterized by exception-
ally high computing power, rapid data throughput, and new 
possibilities for over-the-air online updates. 
Areas of application for high-performance computers 
High-performance computers are particularly suitable for real-
izing data- and computing-intensive applications in which con-
ventional electronic control units and vehicle architectures are 
already pushing their performance limits. Examples of such 
applications include autonomous driving or the rapid pro-
cessing of data traffic from the cloud, which will make motor 
vehicles a permanent part of the Internet of Everything (IoE) in 
future. 
Advantages of high-performance computers 
The reduced scope of control units as well as cable pathways 
in the interplay between HPCs and local control units, known 
as zone controllers, has a direct effect on the sustainability of 
motor vehicles. This reduces the amount of material required, 
weighs less than the total of the individual components, and 
saves a large part of the 1.5 km of copper wiring in the vehicle. 
Another key advantage lies in new or improved vehicle func-
tions, such as vehicle safety, user experience, and vehicle con-
nectivity. By way of example, the option of updating your vehi-
cle online via over-the-air (OTA) updates and downloading new 
functions from the cloud eliminates the need to drive to the 
workshop and additional vehicle downtimes. 
Development status 
With the launch of the VW ID.3, the first electric vehicle 
equipped with Continental’s body high-performance computer 
is already on the market. But high-performance computers are 
currently developing rapidly toward an even greater bundling 
of functions from a wide range of vehicle domains. Continental 
is already in talks with numerous automobile manufacturers in 
this regard. 
Cooperative undertakings / partnerships 
Cooperation with various chip manufacturers is a particularly 
important factor in the development of high-performance 
computers for vehicles. This is not only about computing 
power, but also about complying with the high safety require-
ments within the automotive industry. In addition, numerous 
partners coordinate the integration of high-performance com-
puters in the vehicle architecture, particularly in the field of 
software. 
 
 
 
In the Spotlight

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Green and Safe Factories 
33
 
 
Management Approach 
 
Our ambition 
As set out in our sustainability ambition, we conduct our business 
processes in a safe and responsible manner based on systematic 
management and protecting people and the environment. 
Concept 
Our company policy for environment, safety and health protection 
(ESH) defines corporate-wide guidelines for green and safe facto-
ries. On this basis, we pursue ESH targets for the Continental Group 
as a whole: all persons in our company are to be protected against 
accidents and work-related sickness, and their health is to be ac-
tively promoted. CO2 emissions, energy use, water consumption 
and waste generation at the locations are to be reduced, and the 
waste recycling quota and energy efficiency at the locations in-
creased. 
Local management systems drive forward the implementation of 
these guidelines. The concrete organizational and technical require-
ments can be found in the relevant ESH management manuals for 
the group sectors. Many locations have additionally undergone ex-
ternal certification audits. The extent of these certifications are as-
sessed on an annual basis as to how many employees they cover 
with respect to environmental management, energy management, 
and occupational safety and health management systems. The ac-
cident rate – the number of accidents per million working hours – is 
used as an effectiveness indicator for occupational safety and 
health management. The accident rate has also been part of the 
LTI plans for the members of the Executive Board and global man-
agers since fiscal 2020. For more information, see the remunera-
tion report on our website  under Company/Executive Board. 
The Group Environmental and Climate Protection and Group Safety 
and Health group functions are responsible for the related strategic, 
corporate-wide ESH management process, and are supplemented 
by corresponding functions in the individual group sectors. Local 
operational environment, safety and health protection is the re-
sponsibility of the locations and is coordinated by local ESH man-
agers in each case. 
Results of the concept 
As at December 31, 2021, the majority of our employees through-
out the Continental Group were covered by certified management 
systems. The environmental management system certification cov-
ered 76% of employees (PY: 82% including Vitesco Technologies), 
the energy management system certification covered 40% of em-
ployees (PY: 51% including Vitesco Technologies), and the occupa-
tional safety and health management system certification covered 
62% of employees (PY: 69% including Vitesco Technologies). The 
lower year-on-year quotas are attributable in particular to the spin-
off of Vitesco Technologies. 
The accident rate declined to 2.6 accidents per million working 
hours in fiscal 2021 (PY: 2.9 accidents per million working hours  
including Vitesco Technologies). The decline in the accident rate is 
attributable to various effects, including the success of an occupa-
tional safety program in the ContiTech group sector. 
In order to address the impact of the COVID-19 pandemic and facil-
itate safe production, the existing corporate-wide pandemic prepar-
edness plan (“pandemic plan”) was once again applied in fiscal 
2021. The crisis teams set up at corporate and country level re-
mained active. Continental’s own mask production was continued, 
and psychosocial counseling for mental health continued to be  
offered in certain countries.  
Green and safe factories performance indicators  
2021 
2020 
Environmental management system certification 
(ISO 14001)1  
Employee coverage (as at December 31) in % 
76 
82 
Energy management system certification  
(ISO 50001)1 
Employee coverage (as at December 31) in % 
40 
51 
Occupational safety and health management 
system certification (ISO 45001 or similar)1 
Employee coverage (as at December 31) in % 
62 
69 
Accident rate (number of accidents per million 
working hours)2, 3 
2.6 
2.9 
 
 
 
1 Valid certification and concluded recertification processes were counted, as well as 
ongoing recertification processes, if the achievement of recertification was 
considered highly probable. 
2 Definition: number of accidents during working hours per million paid working hours. 
Counted from more than one lost day, i.e. with at least one lost day beyond the day of 
the accident. 
3 Excluding leasing personnel (i.e. permanent staff only) and way-to-work accidents. 
 
 
Green and Safe Factories 
Source: 2021 Annual Report > Management Report > Corporate Profile >  
Sustainability and Combined Non-Financial Statement (
 starting p. 36) 
 
Note: This section relates to continuing and discontinued operations, with the 
exception of performance indicators for the financial year 2021.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Green and Safe Factories 
34
 
 
Occupational Health and Safety Strategy 
In the field of occupational health and safety, we are pursuing the 
vision of “more healthy and profitable years of life.”  
We want to implement this vision with specific programs in the ar-
eas of industrial safety, occupational medicine, health management, 
ergonomics, and hazardous substance management which we de-
velop on the basis of regular and systematic global risk analyses.  
The Safety and Health group function supports and advises the in-
dividual organizational units and locations on implementing the 
programs, and maintains active networks of experts within the 
company to promote international cooperation, exchange of best 
practice, and strategic further development of our topic areas.  
In fiscal 2021, one focus of occupational health and safety activi-
ties was on the prevention of work-related illnesses due to psycho-
social risk factors. For this purpose, we have updated our group-
wide standard for risk assessment of psychological stress. 
Operational Environmental Protection 
Strategy  
In addition to focusing on climate protection (see page 16), our 
strategy for operational environmental protection also includes the 
additional focal topics of energy, water, and waste. 
Topic of focus: Energy 
By 2030, we plan to reduce our energy consumption by 20% com-
pared to 2018 in relation to sales. We also plan to save 1 TWh of 
energy by means of energy efficiency projects. This equates to 
roughly 10% of Continental’s current annual corporate-wide energy 
consumption. We will therefore be focusing on implementing en-
ergy efficiency projects over the coming years. Our employees 
working in energy and engineering roles work closely together. 
This ensures a continuous transfer of knowledge and enables 
highly efficient technologies to be implemented in all areas. These 
efforts also include the regular review of fuels currently used with 
regard to carbon-neutral alternatives.  
Our total energy consumption in fiscal 2021 was 9.0 TWh (PY: 8.7 
TWh including Vitesco Technologies), with purchased electricity 
and natural gas accounting for most of this. Total energy consump-
tion was up 3.1% year-on-year. The increase is attributable to vari-
ous causes, in particular higher energy consumption (e.g. as a re-
sult of uninterrupted production operations with the exception of 
pandemic-related stoppages) and the completion of data collection. 
This previously covered the relevant production and research and 
development locations and now for the first time also includes the 
rest of the – mostly smaller – locations within the Continental 
Group. Measured in terms of group sales, total energy consumption 
rose by 15.2%. This is primarily attributable to the spin-off of 
Vitesco Technologies with its less energy-intensive processes. 
Relative performance 
indicators of operational 
environmental protection 
20211 
continuing 
operations 
20202 
continuing 
and 
discontinued 
operations 
Change 
Total energy consumption  
in MWh/group sales  
in € millions  
265.6 
230.63 
+15.2 % 
Total water withdrawal  
in m3/group sales  
in € millions  
494.6 
458.5 
+7.9 % 
Total waste generation  
in metric tons/group sales 
in € millions  
12.0 
9.1 
+31.9 % 
 
 
 
 
1 Contains a small amount of imputed data for parts of the Continental Group that did 
not report data directly. 
2 Includes the relevant production and research and development locations. 
3 CO2 emissions from fleet consumption for company cars (leased vehicles) are only 
partially and not systematically included. 
Topic of focus: Water 
By 2030, we plan to reduce our water withdrawal in regions af-
fected by high water risk by 4% year-on-year in relation to sales, 
and in regions with moderate water risk by 2% year-on-year in rela-
tion to sales. By adopting this risk-based approach, we’re focusing 
specifically on those regions of the world where water is steadily 
growing scarcer. Our focus here is on implementing efficiency 
projects that avoid water use and promote reuse of water. All of 
our locations will be consistently evaluated in accordance with 
the regularly updated risk assessment tools provided by the World 
Resource Institute and Aqueduct. This will enable us to use the 
available resources in a targeted and efficient manner. Through our 
membership in the voluntary “CEO Water Mandate” initiative, we 
ensure a regular exchange of information on best practice solu-
tions as well as current opportunities and risks in the field of water 
management. 
In fiscal 2021, the total volume of water withdrawal amounted to 
16.7 million m3 (PY: 17.3 million m3 including Vitesco Technolo-
gies). This mainly includes drinking water sourced from public-util-
ity water providers, as well as extracted groundwater and surface 
water. The total volume of water withdrawal fell by 3.5% compared 
to the previous year. The main reason for this was the discontinued 
reporting of water use by Vitesco Technologies. In terms of group 
sales, our total water withdrawal rose by 7.9% year-on-year. This is 
likewise due primarily to the spin-off of Vitesco Technologies with 
its less water-intensive processes.  
Some of these water sources are at the edges of groundwater pro-
tection zones. No negative effects on biodiversity or on local com-
munities have been found either within the group or by authorities 
during regular inspections.  
Topic of focus: Waste 
By 2030, we plan to reduce the total annual volume of waste gen-
erated by 2% in relation to sales. To help us achieve this, we need to 
avoid generating waste or at least recycle it. In this context, the en-
vironmental strategy contributes significantly to mainstreaming the 
approach of a circular economy throughout the entire company.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Green and Safe Factories 
35
Accordingly, consistent and systematic waste management is al-
ready an integral part of our waste logistics. We also want to in-
crease our waste recycling rate to 95% by 2030. A number of pro-
jects aimed at achieving this goal have already been initiated and 
implemented. These include, for example, greater useof regranu-
lates in plastic injection molding processes, use of reusable packag-
ing in collaboration with our suppliers and customers, and pyrolysis 
of vulcanized rubber materials.  
Total waste generation in fiscal 2021 amounted to 405,249 metric 
tons (PY: 341,513 metric tons including Vitesco Technologies). Haz-
ardous waste accounts for a smaller share of 8.2% of this (PY: 9.7% 
including Vitesco Technologies). The total volume of waste gener-
ated therefore increased by almost 18.7% year-on-year. The in-
crease is attributable to various causes, in particular higher energy 
consumption (e.g. as a result of uninterrupted production opera-
tions with the exception of pandemic-related stoppages) and the 
completion of data collection. This previously covered the relevant 
production and research and development locations and now for 
the first time also includes the rest of the – mostly smaller – loca-
tions within the Continental Group. In terms of group sales, waste 
generation rose by 31.9%. This is primarily attributable to the spin-
off of Vitesco Technologies with its less waste-intensive processes. 
The waste recycling rate stagnated at 81% in fiscal 2021 (PY: 81%). 
Figures for Operational Environmental Protection in Detail 
46.5
38.3
10.2
2.2
0.8
2.0
Total energy consumption 2021 (9.0 TWh) in %1
Other
Coal
Electricity
Heating Oil
Steam
Natural Gas
1 Contains a small amount of imputed data for parts of the Continental Group 
that did not report data directly.
46,5
53.5
Total energy consumption 2021 (9.0 TWh) in %1
Renewable
Non-
renewable
1 Contains a small amount of imputed data for parts of the Continental Group 
that did not report data directly.
47.2
34.5
16.6
1.7
Total water demand 2021 (16.7 million m3) in %1
Industrial water
Drinking 
water
Surface water
Ground water
1 Contains a small amount of imputed data for parts of the Continental Group 
that did not report data directly.
91.8
8.2
Total waste generation 2021 (405,249 metric tons) in %1, 2
Non-hazardous
waste
Hazardous
waste
1 Contains a small amount of imputed data for parts of the Continental Group 
that did not report data directly.
2 Classification of waste according to national legislation. 
In the Spotlight

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
36
Corporate Management 
Source: 2021 Annual Report > Management Report > Corporate Profile >  
Corporate Management (
 starting p. 31) 
The goal is the sustained increase in the 
Continental Group’s value. 
Value management 
Value management at Continental is focused on value creation 
through profitable sales growth. Key financial performance indica-
tors are the adjusted EBIT margin, capital employed, as well as the 
amount of capital expenditure and free cash flow. To allow us to 
use the financial performance indicators for management purposes 
as well, and to map the interdependencies between these indica-
tors, we summarize them as key figures as part of a value-driver 
system. Our corporate objectives center on the sustainable en-
hancement of the value of each individual business unit. This goal 
is achieved by generating a positive return on the capital employed 
in each respective business unit. At the same time, this return must 
always exceed the equity and debt financing costs of acquiring the 
operating capital. It is also crucial that the absolute contribution to 
value (Continental Value Contribution, CVC) increases year for year. 
This can be achieved by increasing the return on capital employed 
(with the costs of capital remaining constant), lowering the costs of 
capital (while maintaining the return on capital employed), or de-
creasing capital employed over time. The performance indicators 
used are EBIT, capital employed, and the weighted average cost of 
capital (WACC), which is calculated from the proportional weight of 
equity and debt costs. 
For 2021, the figures for continuing operations are shown. 
EBIT is the net total of sales, other income and expenses plus in-
come from equity-accounted investees and from investments but 
before financial result and income tax expense. In the year under 
review, EBIT from continuing operations amounted to €1.8 billion. 
Capital employed is the funds used by the company to generate  
its sales. At Continental, this figure is calculated as the average of 
operating assets as at the end of the quarterly reporting periods.  
In 2021, average operating assets from continuing operations 
amounted to €18.4 billion. 
The return on capital employed (ROCE) represents the ratio of 
these two calculated values. Comparing a figure from the state-
ment of income (EBIT) with one from the statement of financial  
position (capital employed) produces an integral analysis. We deal 
with the problem of the different periods of analysis by calculating 
the capital employed as an average figure over the ends of quar-
terly reporting periods. The ROCE for the continuing operations of 
Continental amounted to 10.0% in 2021. 
The weighted average cost of capital (WACC) is calculated to deter-
mine the cost of financing the capital employed. Equity costs are 
based on the return from a risk-free alternative investment plus a 
market risk premium, taking into account Continental’s specific risk. 
Borrowing costs are calculated based on Continental’s weighted 
debt-capital cost rate. Based on the long-term average, the 
weighted average cost of capital for our company is about 10%. 
Value is added if the ROCE exceeds the weighted average cost of 
capital (WACC). We call this value added, produced by subtracting 
the WACC from the ROCE multiplied by average operating assets, 
the Continental Value Contribution (CVC). For continuing opera-
tions in 2021, both the ROCE and the WACC amounted to 10%, 
hence no added value (CVC) was generated. 
ROCE by business area (in %) 
2021 
2020 
continuing 
operations 
2020 
continuing 
and 
discontinued 
operations 
Autonomous Mobility and Safety 
–2.8
–2.8
–2.1
Vehicle Networking and Information 
–6.8
–33.3
–31.9
Tires 
25.7 
14.3 
14.3 
ContiTech 
16.8 
7.7 
7.7 
Contract Manufacturing 
29.0 
–28.8
— 
Powertrain 
— 
— 
–14.1
Continental Group 
10.0 
–2.2
–3.2
2,350
1,655
-2,880
-2,975
0
20.6 %
17.0 %
-1.0 %
-3.2 %
10.0 %
2017
2018
2019
2020
2021
Continental Value
Contribution (CVC) € millions
ROCE %
2021
Long-term Value Creation

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
37
 
Financing strategy 
Our financing strategy aims to support the value-adding growth of 
the Continental Group while at the same time complying with an 
equity and liabilities structure adequate for the risks and rewards  
of our business. 
The Finance & Treasury corporate function provides the necessary 
financial framework to finance corporate growth and secure the 
long-term existence of the company. The company’s annual invest-
ment requirements are likely to be around 7% of sales in the com-
ing years. 
 
Our goal is to finance ongoing investment requirements from the 
operating cash flow. Other investment projects, for example acqui-
sitions, should be financed from a balanced mix of equity and debt 
depending on the ratio of net indebtedness to equity (gearing ra-
tio) and the liquidity situation to achieve constant improvement in 
the respective capital market environment. In general, the gearing 
ratio should be below 40% in the coming years and not exceed 
60% in general. If justified by extraordinary financing reasons or 
specific market circumstances, we can rise above this level under 
certain conditions. The equity ratio should exceed 30%. In the re-
porting year, it was 35.3% and the gearing ratio 29.8%. 
Our gross indebtedness should be a balanced mix of liabilities to 
banks and other sources of financing on the capital market. For 
short-term financing in particular, we use a wide range of financing 
instruments. As at the end of 2021, this mix consisted of bonds 
(53%), a syndicated loan (not utilized), other bank liabilities (19%) 
and other indebtedness (28%) based on the gross indebtedness of 
€6,260.5 million. The syndicated loan that was renewed ahead of 
schedule in December 2019 consists of a revolving tranche of 
€4.0 billion and has an original term of five years. The margin will 
also depend on the Continental Group’s sustainability performance. 
In November 2021, Continental exercised the second and final op-
tion to extend the term by one year. The lending banks then ex-
tended this financing commitment until December 2026 at un-
changed conditions. The additional syndicated loan of €3.0 billion 
concluded in May 2020 with a term of 364 days expired in May 
2021 and was not utilized. 
The company strives to have at its disposal unrestricted liquidity of 
about €1.5 billion. This is supplemented by committed, unutilized 
credit lines from banks in order to cover liquidity requirements at 
all times. These requirements fluctuate during a calendar year ow-
ing in particular to the seasonal nature of some business areas. In 
addition, the amount of liquidity required is also influenced by cor-
porate growth. Unrestricted cash and cash equivalents amounted 
to €1,998.2 million as at December 31, 2021. There were also 
committed and unutilized credit lines of €4,880.3 million. 
Gross indebtedness amounted to €6,260.5 million as at December 
31, 2021. Key financing instruments are the syndicated loan with a 
revolving credit line of €4.0 billion that has been granted until De-
cember 2026, and bonds issued on the capital market. 
As at December 31, 2021, the revolving credit line of €4.0 billion 
had not been utilized. Around 53% of gross indebtedness is financed 
on the capital market in the form of bonds. The interest coupons 
vary between 0.0% and 2.5%. The bonds with maturities between 
2023 and 2026 ensure a balanced overall maturity profile for the 
repayment amounts. In addition to the forms of financing already 
mentioned, there were also bilateral credit lines with various banks 
in the amount of €2,103.7 million as at December 31, 2021. Conti-
nental’s corporate financing instruments currently also include sale-
of-receivables programs and commercial paper programs. In 2021, 
Continental had two commercial paper programs in Germany and 
the USA.
 
 
Composition of gross indebtedness (€6,261 million)
0
1,200 
3,307 
1,754 
Syndicated loans
Other bank liabilities
Other liabilities
Bonds

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
38
 
Maturity profile 
Continental strives for a balanced maturity profile of its liabilities in 
order to be able to repay the amounts due each year from free 
cash flow as far as possible. Aside from short-term indebtedness, 
most of which can be rolled on to the next year, promissory note 
loans totaling €264.0 million will mature at the end of April/begin-
ning of May 2022. No repayments of bonds are scheduled in 
2022. The bonds issued in 2019 and 2020 require repayments of 
€1,250.0 million in 2023, €725.0 million in 2024, €600.0 million in 
2025 and €750.0 million in 2026. 
 
Continental’s credit rating unchanged 
In the reporting period, Continental AG was rated by the three rat-
ing agencies Standard & Poor’s, Fitch and Moody’s, each of which 
maintained their investment-grade credit ratings in 2021. The most 
recent rating adjustment took place in spring 2020, when all three 
rating agencies adjusted their long-term credit rating downward by 
one notch. Our goal remains a credit rating of BBB/BBB+. 
Credit rating for Continental AG 
 
December 31, 2021 
December 31, 2020 
Standard & Poor’s1 
  
  
Long-term 
BBB 
BBB 
Short-term 
A-2 
A-2 
Outlook 
negative 
negative 
Fitch2 
  
  
Long-term 
BBB 
BBB 
Short-term 
F2 
F2 
Outlook 
stable 
stable 
Moody’s3 
  
  
Long-term 
Baa2 
Baa2 
Short-term 
P-2 
P-2 
Outlook 
negative 
negative 
 
 
 
1 Contracted rating since May 19, 2000. 
2 Contracted rating since November 7, 2013. 
3 Contracted rating since January 1, 2019.
 
 
Maturities of gross indebtedness (€6,261 million)
1,617
1,516
1,163
765
1,200
2022
2023
2024
2025
from 2026

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
39
 
Economic Report 
Source: 2021 Annual Report > Management Report > Economic Report  
(
 starting p. 47) 
 
Macroeconomic Development 
Following the economic decline in the previous year as a result  
of the COVID-19 pandemic, the economy normalized in all regions 
across the world in 2021. In addition to the increasing number of 
coronavirus vaccinations, the economic stimulus programs in cer-
tain major economies also contributed to this recovery. According 
to the January 2022 World Economic Outlook Update (WEO Up-
date) published by the International Monetary Fund (IMF), the 
global economy grew by 5.9% in fiscal 2021. This slightly ex-
ceeded the IMF’s forecast of 5.5% growth from January 2021. 
In the eurozone, gross domestic product (GDP) rose by 5.2% com-
pared to the previous year’s figures in 2021 according to statistical 
office Eurostat. Of the major eurozone economies, France, Italy and 
Spain reported strong growth rates of around 5% to just under 7% 
in 2021 according to the IMF, after experiencing steep declines in 
GDP in the previous year. In Germany, according to the Federal Sta-
tistical Office, GDP rose by 2.7% in 2021. Other major European 
economies also recorded high growth rates for their economic out-
put. For the UK and Russia, the IMF estimated GDP growth in 2021 
of 7.2% and 4.5%, respectively. 
In North America, according to the Bureau of Economic Analysis, 
the USA reported GDP growth of 5.7% for 2021. For Canada and 
Mexico, the IMF estimated GDP growth of 4.7% and 5.3%, respec-
tively. Other countries in the Americas also recorded an economic 
recovery in 2021. For Brazil, for example, the IMF reported GDP 
growth of 4.7%.  
Asian countries also recorded an economic revival in the year un-
der review according to the IMF. Very high growth rates were  
achieved in 2021 by India’s economy, with growth of 9.0%, and 
China’s economy, with GDP growth of 8.1%. According to the IMF, 
lower growth rates were reported for the Association of Southeast 
Asian Nations (ASEAN) and for Japan, with GDP growth of 3.1% and 
1.6%, respectively. 
Development of Key Customer Sectors and Sales Regions 
With a 61% share of consolidated sales, the automotive industry – 
with the exception of the replacement business – was Continental’s 
most important customer group in fiscal 2021. Automotive Tech-
nologies accounted for the lion’s share, but the Tires and ContiTech 
business areas also generated significant sales figures in this mar-
ket segment. 
The second-biggest market segment for Continental was the global 
replacement-tire business for passenger cars and commercial vehi-
cles, with 28% of total sales in fiscal 2021. Because passenger cars 
and light commercial vehicles make up a considerably higher share 
of the replacement-tire business, their development is particularly 
important to our economic success. 
The third-biggest market segment for Continental was the global 
business with industrial customers and spare parts from the Conti-
Tech business area, with around 9% of total sales. 
Continental’s biggest sales region in the reporting year was still Eu-
rope, which accounted for 49% of sales, followed by North America 
at 25% and Asia-Pacific at 22%. 
Year-on-year economic growth (GDP) in 2021 (for selected countries and the world) 
Sources: IMF – World Economic Outlook Update January 2022, Eurostat, statistical offices of the respective countries, Bloomberg. 
World   5.9% Economic growth (GDP) 2021
–3.1% Economic growth (GDP) 2020
5.7% 
–3.4% 
4.7% 
–3.9% 
7.2% 
–9.4% 
5.2% 
–6.4% 
2.7% 
–4.6% 
4.5% 
–2.7% 
8.1% 
2.3% 
9.0% 
–7.3% 
1.6% 
–4.5%

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
40
 
Development of new passenger-car registrations 
2021 saw high demand for passenger cars in the world’s automo-
tive markets, including as a result of catch-up effects from the previ-
ous year, during which passenger car production was temporarily 
suspended due to the spread of the coronavirus. However, various 
events in the year under review led to an increasing shortage of 
semiconductors and ongoing production limitations among car 
manufacturers, particularly in the second and third quarters, result-
ing in limited availability of many car models in individual regions. 
In the European car market (EU27, EFTA and the United Kingdom), 
there were around 2% fewer new-car registrations in 2021 than in 
the previous year according to preliminary data from the German 
Association of the Automotive Industry (Verband der Automobilin-
dustrie, VDA). According to the VDA, passenger car sales fell in  
Japan by around 4%. 
In other countries, however, registration figures improved in 2021. 
According to the VDA, passenger car sales rose in the major car 
markets of China and the USA by just under 7% and by 3%, respec-
tively. Russia and Brazil recorded growth of 4% and 1%, respectively. 
After the sharp decline in the previous year, India recorded very 
strong growth of 27%. According to preliminary data from car man-
ufacturer Renault, new-car registrations rose by 5% globally in 2021. 
Development of production of passenger cars and light 
commercial vehicles 
In the year under review, semiconductor supply shortages limited 
the recovery of global production of passenger cars and light com-
mercial vehicles weighing less than 6 metric tons after the previous 
year’s pandemic-related decline. According to preliminary figures, 
global production for 2021 rose by around 3% to 77.1 million units. 
European automotive plants were hit particularly hard by the semi-
conductor shortages in the year under review. As a result, the pro-
duction volumes for passenger cars and light commercial vehicles 
in Europe decreased by 4% year-on-year. North American manufac-
turers were also forced to temporarily shut down several plants in 
2021 as a result of the semiconductor shortages, with production 
stagnating at the low level seen in the previous year as a result. In 
China, on the other hand, preliminary data indicates that manufac-
turers were able to increase production by 5% year-on-year. 
 
Development of production of medium and heavy commercial 
vehicles 
Following the pandemic-related decline in the previous year, the 
production of medium and heavy commercial vehicles weighing 
more than 6 metric tons stabilized worldwide in 2021 according to 
preliminary figures, and was almost on a par with the previous year 
with a decline of 1%. 
In Europe and North America, the semiconductor shortages limited 
the recovery of truck production. According to preliminary figures, 
however, production in Europe and North America rose by 13% and 
21%, respectively, compared with the very weak prior-year figures. 
China recorded high demand for commercial vehicles in the first 
half of 2021 due to new emission standards coming into effect 
around the middle of the year. In the second half of the year, de-
mand and production then fell considerably short of the very high 
prior-year figures. Overall, production of medium and heavy com-
mercial vehicles in China in 2021 was down 20% compared to the 
record high seen in the previous year. 
Development of replacement-tire markets for passenger cars 
and light commercial vehicles 
Following the market decline in the previous year in the wake of 
the measures to contain the COVID-19 pandemic, demand for tires 
recovered in 2021. According to preliminary data, global sales vol-
umes of replacement tires for passenger cars and light commercial 
vehicles weighing less than 6 metric tons rose by 11% in the re-
porting year. 
On the basis of preliminary data, sales volumes of replacement tires 
for passenger cars and light commercial vehicles rose by 11% in 
Europe and by 14% in North America in 2021. In China, preliminary 
data indicates a rise in sales volumes of replacement tires of 5%. 
Development of replacement-tire markets for medium and 
heavy commercial vehicles 
In our core markets of Europe and North America, preliminary data 
indicates that year-on-year demand for replacement tires for me-
dium and heavy commercial vehicles weighing more than 6 metric 
tons rose by 10% and 20%, respectively, in 2021.
Changes to vehicle production and sales volumes in the tire-replacement business in 2021 (compared to 2020) 
  
Vehicle production 
Replacement sales of tires 
 
of passenger cars and 
light commercial vehicles 
of medium and heavy  
commercial vehicles 
for passenger cars and 
light commercial vehicles 
for medium and heavy 
commercial vehicles 
Europe 
–4% 
13% 
11% 
10% 
North America 
0% 
21% 
14% 
20% 
China 
5% 
–20% 
5% 
n. a. 
Worldwide 
3% 
–1% 
11% 
n. a. 
 
 
 
 
 
Sources: 
Vehicle production: IHS Inc. (Europe with Western, Central and Eastern Europe incl. Russia and Turkey). 
Tire-replacement business: LMC International Ltd. 
Preliminary figures and own estimates.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
41
 
Development of Raw Materials Markets 
Carbon steel and stainless steel are input materials for many of the 
mechanical components such as die-cast parts integrated by Conti-
nental into its products. Steel wire is used in particular in tire pro-
duction as steel cord but also, for example, in conveyor belts and 
timing belts to increase tensile strength. Aluminum is used in par-
ticular for die-cast parts and stamped and bent components, while 
copper is used in particular in electric motors, mechatronic compo-
nents and printed circuit boards. On a euro basis, prices for carbon 
steel rose by more than 50% on average in 2021. For some materi-
als such as hot-rolled coil, they more than doubled. Prices for alumi-
num and copper, which had already increased in the previous year, 
rose even further in the year under review. The annual average price 
of aluminum increased by around 44% on a US dollar basis in 2021, 
while that of copper rose by around 50% on a US dollar basis. 
 
Sources: 
Carbon steel: hot-rolled coil Northern Europe ex works, from Kallanish Commodities  
(€ per metric ton). 
Copper and aluminum: rolling three-month contracts from the London Metal Exchange 
(US $ per metric ton). 
Precious metals such as silver and gold are used by Continental 
and by our suppliers to coat components. The average price of sil-
ver was up 22% year-on-year on a US dollar basis in 2021. In con-
trast to this, following the rise in the previous year, the price of gold 
remained relatively stable with an increase of 2%. 
Renewed demand for tires led to a rise in prices for natural rubber 
in the year under review. The average price of natural rubber TSR 
20 was up 27% year-on-year on a US dollar basis, for example. 
Crude oil is the most important basic building block for synthetic-
rubber input materials such as butadiene and styrene as well as  
for carbon black, various other chemicals, and plastics. The price  
of crude oil continued the upward trend seen in the second half of 
the previous year in 2021. Due to rising demand and only an incre-
mental increase in production levels, the annual average price of 
Brent crude oil increased by 66% year-on-year on a US dollar basis.  
The rise in the price of crude oil as well as increasing demand led 
to significant price increases for various input materials for syn-
thetic rubber in 2021. Annual average prices for butadiene and  
styrene, for example, increased by 46% and 58%, respectively, on  
a US dollar basis. 
Various plastic granules, known as resins, also saw a noticeable in-
crease in 2021 as a result of the rise in the price of crude oil. Res-
ins, as technical thermoplastics, are required by Continental and 
our suppliers, in particular for the manufacture of housing parts in 
the Automotive Technologies group sector and various other plas-
tic parts in the ContiTech business area. On a US dollar basis, prices 
for resins rose by around 50% on average in 2021. 
 
Sources: 
TSR 20: rolling one-month contracts from the Singapore Exchange (US $ cents per kg). 
Crude oil: European Brent spot price from Bloomberg (US $ per barrel). 
Butadiene: South Korea spot price (FOB) from PolymerUpdate.com (US $ per metric ton). 
Continental uses natural and synthetic rubber in large quantities for 
the manufacture of tires and industrial rubber products. It also uses 
relatively large quantities of carbon black as a filler material and of 
steel cord and nylon cord as structural materials. Due to the high 
volumes and direct purchasing of raw materials, their price devel-
opment has a significant influence on the earnings of the Rubber 
Technologies group sector, particularly the Tires business area. 
Overall, despite a slightly stronger euro, the described price devel-
opments for raw materials led to significant cost burdens in all 
group sectors in 2021, but in particular Rubber Technologies. 
There is usually a gap of several months between purchasing raw 
materials, their delivery and their use in production, depending on 
the product and contractual arrangement. As a result, the rise in 
spot prices in the second half of 2021 is also expected to lead to 
increased costs for raw materials in fiscal 2022. 
 
 
0
50
100
150
200
250
Carbon steel
Copper
Aluminium
Steel, copper and aluminium
Indexed to January 1, 2019
2019
2020
2021
0
50
100
150
200
250
TSR 20
Brent crude-oil
Butadiene
TSR 20, crude oil and butadiene
Indexed to January 1, 2019
2019
2020
2021

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
42
 
Earnings Position 
› Sales up 6.0% 
› Sales up 7.4% before changes in the scope of consolidation and exchange-rate effects 
› Adjusted EBIT up 37.7% 
The following table shows the figures for continuing operations for the reporting and comparative periods. 
Continental Group in € millions 
2021 
2020 
∆ in % 
Sales 
33,765.2 
31,864.4 
6.0 
EBITDA 
4,104.2 
2,763.5 
48.5 
in % of sales 
12.2 
8.7 
  
EBIT 
1,845.8 
–428.0 
531.3 
in % of sales 
5.5 
–1.3 
  
Research and development expenses (net) 
2,586.8 
2,700.7 
–4.2 
in % of sales 
7.7 
8.5 
  
Depreciation and amortization1 
2,258.4 
3,191.5 
–29.2 
thereof impairment2 
29.1 
800.1 
–96.4 
Operating assets as at December 31 
18,949.4 
17,583.5 
7.8 
Operating assets (average) 
18,416.1 
19,565.7 
–5.9 
ROCE in % 
10.0 
–2.2 
  
Capital expenditure3 
1,947.4 
1,779.7 
9.4 
in % of sales 
5.8 
5.6 
  
Number of employees as at December 314 
190,875 
195,896 
–2.6 
 
  
  
  
Adjusted sales5 
33,754.3 
31,648.8 
6.7 
Adjusted operating result (adjusted EBIT)6 
1,900.4 
1,379.9 
37.7 
in % of adjusted sales 
5.6 
4.4 
  
 
 
 
 
1 Excluding impairment on financial investments. 
2 Impairment also includes necessary reversal of impairment losses. Expenses from derecognitions of brand values are likewise included. 
3 Capital expenditure on property, plant and equipment, and software. 
4 Excluding trainees. 
5 Before changes in the scope of consolidation. 
6 Before amortization of intangible assets from purchase price allocation (PPA), changes in the scope of consolidation, and special effects.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
43
 
The following table shows the figures for continuing and discontinued operations in the reporting and comparative periods.  
Continuing and discontinued operations in € millions 
2021 
2020 
∆ in % 
Sales 
38,197.9 
37,722.3 
1.3 
EBITDA 
4,574.8 
3,033.8 
50.8 
in % of sales 
12.0 
8.0 
  
EBIT 
2,159.8 
–718.1 
400.8 
in % of sales 
5.7 
–1.9 
  
Net income attributable to the shareholders of the parent 
1,455.0 
–961.9 
251.3 
Basic earnings per share in € 
7.28 
–4.81 
251.3 
Diluted earnings per share in € 
7.28 
–4.81 
251.3 
Capital expenditure1 
2,152.4 
2,232.2 
–3.6 
in % of sales 
5.6 
5.9 
  
Free cash flow 
1,372.4 
878.7 
56.2 
 
 
 
 
1 Capital expenditure on property, plant and equipment, and software. 
Sales up 6.0% 
Sales up 7.4% before changes in the scope of consolidation and 
exchange-rate effects 
Consolidated sales increased by €1,900.8 million or 6.0% year-on-
year in 2021 to €33,765.2 million (PY: €31,864.4 million). Before 
changes in the scope of consolidation and exchange-rate effects, 
sales rose by 7.4%. The Rubber Technologies group sector reported 
a sales increase, in part because of the negative effects of the 
COVID-19 pandemic in the previous year and the resulting low  
basis for comparison. In the Automotive Technologies group sector, 
supply problems in the semiconductor industry negatively impacted 
sales growth, particularly in the second half of the year. Overall, Au-
tomotive Technologies generated unchanged year-on-year sales in 
2021; they were slightly higher before changes in the scope of 
consolidation and exchange-rate effects. The Contract Manufactur-
ing group sector comprises contract manufacturing for Vitesco 
Technologies. Its sales decreased in the reporting year in accord-
ance with the contractually agreed procedure between Continental 
and Vitesco Technologies. The Continental Group’s sales perfor-
mance was impacted by negative exchange-rate effects of €247.2 
million, while changes in the scope of consolidation had little effect. 
Sales from discontinued operations amounted to €4,432.7 million 
(PY: €5,857.9 million), resulting in total sales of €38,197.9 million 
(PY: €37,722.3 million) for continuing and discontinued operations. 
Adjusted EBIT up 37.7% 
Adjusted EBIT for the Continental Group increased by €520.5 mil-
lion or 37.7% year-on-year to €1,900.4 million (PY: €1,379.9 million) 
in 2021, corresponding to 5.6% (PY: 4.4%) of adjusted sales. 
 
The regional distribution of sales in 2021 was as follows: 
 
Sales by region in % 
2021 
2020 
Germany 
17 
18 
Europe excluding Germany 
31 
31 
North America 
25 
25 
Asia-Pacific 
22 
22 
Other countries 
5 
4

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
44
 
EBIT up 531.3% 
EBIT was up by €2,273.8 million year-on-year in 2021 to €1,845.8 
million (PY: -€428.0 million), an increase of 531.3%. The return  
on sales improved to 5.5% (PY: -1.3%). The cost of sales rose by 
€1,654.3 million to €26,024.9 million (PY: €24,370.6 million), pri-
marily due to higher costs for raw materials, energy and logistics. 
For more information, see the Development of Raw Materials Mar-
kets section in the economic report and the report on expected  
developments. 
EBIT from discontinued operations amounted to €314.0 million 
(PY: -€290.1 million), resulting in total EBIT of €2,159.8 million from 
continuing and discontinued operations (PY: -€718.1 million), with 
a return on sales of 5.7% (PY: -1.9%). 
The amortization of intangible assets from purchase price alloca-
tion (PPA) reduced EBIT from the Continental Group’s continuing 
operations by €159.0 million (PY: €174.5 million). 
The ROCE was 10.0% (PY: -2.2%). 
Special effects in 2021 
Total consolidated income from special effects in 2021 amounted 
to €122.6 million. ContiTech accounted for €130.1 million of this, 
Contract Manufacturing for €26.4 million and the holding for €67.3 
million. Expenses from special effects amounted to €87.3 million 
for Autonomous Mobility and Safety, €4.0 million for Vehicle Net-
working and Information and €9.9 million for Tires. 
The spin-off of parts of the former Powertrain business area re-
sulted in expenses totaling €86.4 million (Autonomous Mobility 
and Safety €48.4 million; Vehicle Networking and Information 
€44.3 million; holding income of €6.3 million). 
The organizational realignment of the Automotive Technologies 
group sector resulted in expenses totaling €3.0 million (Autono-
mous Mobility and Safety €2.4 million; Vehicle Networking and  
Information €0.6 million). 
Impairment on intangible assets resulted in expenses totaling €3.1 
million (Vehicle Networking and Information €0.1 million; Tires €3.0 
million; ContiTech €0.0 million). 
Impairment on property, plant and equipment resulted in expenses 
totaling €25.9 million (Autonomous Mobility and Safety €7.1 mil-
lion; Vehicle Networking and Information €6.6 million; Tires €1.8 
million; Contract Manufacturing €10.4 million). In addition, reversals 
of impairment losses on property, plant and equipment resulted in 
income totaling €9.4 million (Autonomous Mobility and Safety €6.0 
million; ContiTech €3.4 million). These figures do not include im-
pairment and reversal of impairment losses that arose in connec-
tion with restructuring. 
Severance payments resulted in a negative special effect totaling 
€112.2 million (Autonomous Mobility and Safety €38.1 million; Ve-
hicle Networking and Information €20.8 million; Tires €24.0 million; 
ContiTech €18.7 million; Contract Manufacturing €2.0 million; hold-
ing €8.6 million). 
In the Autonomous Mobility and Safety business area, restructuring 
expenses of €4.8 million were incurred. These included impairment 
on property, plant and equipment in the amount of €0.4 million. In 
addition, the reversal of restructuring provisions resulted in income 
of €36.5 million. 
In the Vehicle Networking and Information business area, there 
were restructuring expenses of €10.0 million. These included im-
pairment on property, plant and equipment in the amount of €4.3 
million. In addition, the reversal of restructuring provisions resulted 
in income of €31.9 million. 
In the Tires business area, restructuring expenses of €5.4 million 
were incurred. These included impairment on property, plant and 
equipment in the amount of €1.1 million. The reversal of restructur-
ing provisions also resulted in income of €24.3 million. 
In the ContiTech business area, restructuring expenses of €14.6 
million were incurred. These included impairment on property, plant 
and equipment in the amount of €0.3 million. In addition, the rever-
sal of restructuring provisions resulted in income of €14.4 million. 
In the Contract Manufacturing business area, there were restructur-
ing expenses of €3.5 million, of which €3.4 million were attributable 
to impairment on property, plant and equipment. In addition, the re-
versal of restructuring provisions resulted in income of €43.2 million. 
Restructuring-related expenses resulted in expense totaling €59.5 
million (Autonomous Mobility and Safety €29.0 million; Vehicle Net-
working and Information €19.8 million; ContiTech €9.8 million; 
Contract Manufacturing €0.9 million). 
The termination of OSRAM CONTINENTAL GmbH, Munich, Germany 
– a joint venture with OSRAM GmbH, Munich, Germany – resulted in 
income of €33.5 million in the Vehicle Networking and Information 
business area from the fair value measurement of the 50% stake in 
the joint venture. In addition, income of €0.3 million was generated 
from the sale of an equity-accounted investee. 
In the ContiTech business area, the sale of business activities of 
Special Technologies and Solutions as well as Conveying Solutions 
resulted in income of €155.4 million. 
The spin-off of Vitesco Technologies in September 2021 led to the 
reclassification of components of other comprehensive income. This 
resulted in income amounting to €69.6 million at the holding level.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
45
 
Furthermore, the Vehicle Networking and Information business 
area generated income of €32.5 million from the reversal of the 
provision for capital commitments to OSRAM CONTINENTAL 
GmbH, Munich, Germany. 
Special effects in 2020 
Total consolidated expense from special effects in 2020 amounted 
to €1,636.4 million. Autonomous Mobility and Safety accounted  
for €192.5 million of this, Vehicle Networking and Information for 
€902.8 million, Tires for €310.8 million, ContiTech for €75.2 mil-
lion, Contract Manufacturing for €149.8 million, and the holding  
for €5.3 million. 
The spin-off of parts of the former Powertrain business area re-
sulted in expenses totaling €36.6 million (Autonomous Mobility 
and Safety €15.3 million; Vehicle Networking and Information 
€16.3 million; holding €5.0 million). 
The organizational realignment of the Automotive Technologies 
group sector resulted in expenses totaling €1.6 million (Autono-
mous Mobility and Safety €0.8 million; Vehicle Networking and  
Information €0.8 million). 
Within the context of the annual planning process, global produc-
tion of passenger cars and light commercial vehicles was not ex-
pected to increase substantially compared to pre-crisis levels over 
the years between 2021 and 2025. The expected impact of re-
structuring measures was also taken into account in this planning 
process. Due to this triggering event and other significant assump-
tions made when calculating the value in use of a cash-generating 
unit (CGU) – such as free cash flows, discount rates and their pa-
rameters, and long-term growth rates – goodwill was impaired by 
€654.6 million in the Vehicle Networking and Information business 
area (September 30, 2020: €649.3 million). 
Expenses from derecognitions of brand values totaled €85.7 mil-
lion (Vehicle Networking and Information €71.2 million; ContiTech 
€14.5 million). In addition, expenses related to the impairment of 
intangible assets were incurred in the amount of €0.7 million in the 
Autonomous Mobility and Safety business area. 
Impairment and reversal of impairment losses on property, plant 
and equipment resulted in expense totaling €36.7 million (Autono-
mous Mobility and Safety €5.4 million; Vehicle Networking and In-
formation €17.9 million; Tires €0.5 million; ContiTech €3.0 million; 
Contract Manufacturing €9.9 million; holding €0.0 million). These 
figures do not include impairment and reversal of impairment 
losses that arose in connection with restructuring. 
Severance payments resulted in a negative special effect totaling 
€78.7 million (Autonomous Mobility and Safety €21.3 million; Vehi-
cle Networking and Information €20.0 million; Tires €17.7 million; 
ContiTech €17.5 million; Contract Manufacturing €1.9 million; hold-
ing €0.3 million). 
In the Autonomous Mobility and Safety business area, restructuring 
expenses of €139.2 million were incurred. These expenses in-
cluded impairment on property, plant and equipment in the 
amount of €3.4 million. In addition, the reversal of restructuring 
provisions resulted in income of €4.4 million. 
In the Vehicle Networking and Information business area, there 
were restructuring expenses of €229.9 million. These restructuring 
expenses included impairment on property, plant and equipment in 
the amount of €0.1 million. 
In the Tires business area, there were restructuring expenses of 
€293.9 million. These expenses included impairment on property, 
plant and equipment and intangible assets in the amount of €13.0 
million. Furthermore, restructuring resulted in income of €1.7 mil-
lion, which is entirely attributable to a reversal of impairment losses 
on property, plant and equipment. 
In the ContiTech business area, there were restructuring expenses 
of €43.8 million, of which €7.7 million were attributable to impair-
ment on property, plant and equipment. In addition, the reversal of 
restructuring provisions resulted in income of €7.8 million. This in-
come included reversals of impairment losses on property, plant 
and equipment in the amount of €0.1 million. 
In the Contract Manufacturing business area, there were restructur-
ing expenses of €109.2 million. In addition, the reversal of restruc-
turing provisions resulted in income of €8.7 million. 
Restructuring-related measures resulted in expense totaling €16.1 
million (Autonomous Mobility and Safety €10.5 million; Vehicle Net-
working and Information €3.7 million; Tires €0.2 million; ContiTech 
€1.7 million). 
In the Autonomous Mobility and Safety business area, an expense 
of €3.7 million resulted from an allowance recognized on the carry-
ing amount of an equity-accounted investee. 
In the Vehicle Networking and Information business area, the 50% 
shareholding in equity-accounted associate SAS Autosystemtechnik 
GmbH & Co. KG., Karlsruhe, Germany, was sold. This resulted in in-
come totaling €157.0 million. 
Income on the sale of off-balance-sheet intangible assets was also 
realized in the Vehicle Networking and Information business area in 
the amount of €4.5 million. 
Also in the Vehicle Networking and Information business area, an 
expense totaling €49.9 million was incurred in connection with the 
preparations to repatriate the business from associate OSRAM 
CONTINENTAL GmbH, Munich, Germany. 
The Tires business area recorded an expense of €0.2 million result-
ing from the disposal of companies and assets. 
For the ContiTech business area, there was a loss of €2.5 million 
from the disposal of a company. 
Furthermore, an expense in the amount of €37.5 million was rec-
orded in the Contract Manufacturing business area due to an allow-
ance recognized on the carrying amount of an associate.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
46
 
Procurement 
2021 was characterized by high demand amid a limited supply of 
materials and increased transport costs. In the Automotive Technol-
ogies group sector, this led not only to long delivery times, but also 
to supply bottlenecks and significantly higher prices. The prices of 
key input materials and many raw materials for Rubber Technologies 
increased in the first half of 2021 and reached their peak in  
the second half of the year. Annual average prices for the raw ma-
terials used in the Tires and ContiTech business areas were above 
the previous year’s level, in particular because of significant de-
mand on the procurement market. 
 
Reconciliation of EBIT to net income 
€ millions 
2021 
2020 
∆ in % 
Autonomous Mobility and Safety 
–128.0 
–129.5 
1.2 
Vehicle Networking and Information 
–245.8 
–1,364.9 
82.0 
Tires 
1,700.6 
1,012.3 
68.0 
ContiTech 
514.7 
254.1 
102.6 
Contract Manufacturing 
130.4 
–94.0 
238.7 
Other/Holding/Consolidation 
–126.1 
–106.0 
–19.0 
EBIT 
1,845.8 
–428.0 
531.3 
Financial result 
–136.3 
–187.9 
27.5 
Earnings before tax from continuing operations 
1,709.5 
–615.9 
377.6 
Income tax expense 
–359.5 
50.3 
–814.7 
Earnings after tax from continuing operations 
1,350.0 
–565.6 
338.7 
Earnings after tax from discontinued operations 
156.9 
–353.2 
144.4 
Net income 
1,506.9 
–918.8 
264.0 
Non-controlling interests 
–51.9 
–43.1 
–20.4 
Net income attributable to the shareholders of the parent 
1,455.0 
–961.9 
251.3 
Earnings per share (in €) relating to 
  
  
  
Basic earnings per share from continuing operations 
6.49 
–3.02 
314.9 
Consolidated basic earnings per share 
7.28 
–4.81 
251.3 
Diluted earnings per share from continuing operations 
6.49 
–3.02 
314.9 
Consolidated diluted earnings per share 
7.28 
–4.81 
251.3

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
47
 
Reconciliation of sales to adjusted sales and of EBITDA to adjusted operating result (adjusted EBIT) in 2021 
€ millions 
Autonomous 
Mobility and 
Safety 
Vehicle 
Networking and 
Information 
Tires 
ContiTech 
Contract 
Manufacturing 
Other/ 
Holding/ 
Consolidation 
Continental 
Group 
Sales 
7,496.7 
7,957.6 
11,807.6 
5,912.6 
889.6 
–298.9 
33,765.2 
Changes in the scope of consolidation1 
— 
–10.8 
–0.1 
— 
— 
— 
–10.9 
Adjusted sales 
7,496.7 
7,946.8 
11,807.5 
5,912.6 
889.6 
–298.9 
33,754.3 
 
  
  
  
  
  
  
  
EBITDA 
395.2 
272.9 
2,525.9 
833.7 
194.2 
–117.7 
4,104.2 
Depreciation and amortization2 
–523.2 
–518.7 
–825.3 
–319.0 
–63.8 
–8.4 
–2,258.4 
EBIT 
–128.0 
–245.8 
1,700.6 
514.7 
130.4 
–126.1 
1,845.8 
Amortization of intangible assets from  
purchase price allocation (PPA) 
1.9 
66.2 
18.7 
72.2 
— 
— 
159.0 
Changes in the scope of consolidation1 
— 
18.1 
0.1 
— 
— 
— 
18.2 
Special effects 
  
  
  
  
  
  
  
Impairment on goodwill 
— 
— 
— 
— 
— 
— 
— 
Impairment3 
1.1 
6.7 
4.8 
–3.4 
10.4 
0.0 
19.6 
Restructuring4 
–31.7 
–21.9 
–18.9 
0.2 
–39.7 
— 
–112.0 
Restructuring-related expenses 
29.0 
19.8 
— 
9.8 
0.9 
— 
59.5 
Severance payments 
38.1 
20.8 
24.0 
18.7 
2.0 
8.6 
112.2 
Gains and losses from disposals of  
companies and business operations 
— 
–33.8 
— 
–155.4 
— 
–69.6 
–258.8 
Other5 
50.8 
12.4 
— 
— 
— 
–6.3 
56.9 
Adjusted operating result (adjusted EBIT) 
–38.8 
–157.5 
1,729.3 
456.8 
104.0 
–193.4 
1,900.4 
 
 
 
 
 
 
 
 
1 Changes in the scope of consolidation include additions and disposals as part of share and asset deals. Adjustments were made for additions in the reporting year and for 
disposals in the comparative period of the prior year. 
2 Excluding impairment on financial investments. 
3 Impairment also includes necessary reversal of impairment losses. This item does not include impairment that arose in connection with a restructuring and impairment on 
financial investments. 
4 This also includes restructuring-related impairment losses totaling €9.5 million (Autonomous Mobility and Safety €0.4 million; Vehicle Networking and Information €4.3 million; 
Tires €1.1 million; ContiTech €0.3 million; Contract Manufacturing €3.4 million). 
5 Mainly includes expenses of €86.4 million in connection with the spin-off of parts of the former Powertrain business area. In addition, the termination of OSRAM CONTINENTAL 
GmbH, Munich, Germany, resulted in income of €32.5 million from the reversal of an unused provision for capital commitments.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
48
 
Reconciliation of sales to adjusted sales and of EBITDA to adjusted operating result (adjusted EBIT) in 2020  
€ millions 
Autonomous 
Mobility and 
Safety 
Vehicle 
Networking and 
Information 
Tires 
ContiTech 
Contract 
Manufacturing 
Other/ 
Holding/ 
Consolidation 
Continental 
Group 
Sales 
7,559.8 
7,942.2 
10,158.6 
5,578.6 
969.9 
–344.7 
31,864.4 
Changes in the scope of consolidation1 
–14.8 
–178.3 
— 
–22.5 
— 
— 
–215.6 
Adjusted sales 
7,545.0 
7,763.9 
10,158.6 
5,556.1 
969.9 
–344.7 
31,648.8 
 
  
  
  
  
  
  
  
EBITDA 
412.9 
–29.7 
1,864.9 
628.7 
–22.1 
–91.2 
2,763.5 
Depreciation and amortization2 
–542.4 
–1,335.2 
–852.6 
–374.6 
–71.9 
–14.8 
–3,191.5 
EBIT 
–129.5 
–1,364.9 
1,012.3 
254.1 
–94.0 
–106.0 
–428.0 
Amortization of intangible assets from  
purchase price allocation (PPA) 
— 
65.5 
20.3 
88.7 
— 
— 
174.5 
Changes in the scope of consolidation1 
17.6 
–18.6 
— 
–2.0 
— 
— 
–3.0 
Special effects 
  
  
  
  
  
  
  
Impairment on goodwill 
— 
654.6 
— 
— 
— 
— 
654.6 
Impairment3 
6.1 
89.1 
0.5 
17.5 
9.9 
0.0 
123.1 
Restructuring4 
134.8 
229.9 
292.2 
36.0 
100.5 
— 
793.4 
Restructuring-related expenses 
10.5 
3.7 
0.2 
1.7 
— 
— 
16.1 
Severance payments 
21.3 
20.0 
17.7 
17.5 
1.9 
0.3 
78.7 
Gains and losses from disposals of  
companies and business operations 
0.0 
–161.5 
0.2 
2.5 
— 
— 
–158.8 
Other5 
19.8 
67.0 
— 
— 
37.5 
5.0 
129.3 
Adjusted operating result (adjusted EBIT) 
80.6 
–415.2 
1,343.4 
416.0 
55.8 
–100.7 
1,379.9 
 
 
 
 
 
 
 
 
1 Changes in the scope of consolidation include additions and disposals as part of share and asset deals. Adjustments were made for additions in the reporting year and for 
disposals in the comparative period of the prior year. 
2 Excluding impairment on financial investments. 
3 Impairment also includes necessary reversal of impairment losses. This item does not include impairment that arose in connection with a restructuring and impairment on 
financial investments. It does include expenses from derecognitions of brand values of €71.2 million in the Vehicle Networking and Information business area and of €14.5 
million in the ContiTech business area. 
4 This also includes restructuring-related impairment losses totaling €24.2 million (Autonomous Mobility and Safety €3.4 million; Vehicle Networking and Information €0.1 million; 
Tires €13.0 million; ContiTech €7.7 million) and reversals of impairment losses totaling €1.8 million (Tires €1.7 million; ContiTech €0.1 million). 
5 Mainly includes expenses of €36.6 million in connection with the spin-off of parts of the former Powertrain business area, expenses totaling €49.9 million in connection with 
preparations for the repatriation of the business from associate OSRAM CONTINENTAL GmbH, Munich, Germany, and an expense of €37.5 million due to an allowance 
recognized on the carrying amount of an associate.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
49
 
Research and development 
Research and development expenses (net) declined by €113.9 mil-
lion or 4.2% year-on-year to €2,586.8 million (PY: €2,700.7 million), 
corresponding to 7.7% (PY: 8.5%) of sales. 
In the Automotive Technologies group sector, costs in connection 
with initial product development projects in the original-equipment 
business are capitalized. Costs are capitalized as at the time at which 
we are named as a supplier and have successfully achieved a spe-
cific pre-release stage. Capitalization ends with the approval for un-
limited volume production. The costs of customer-specific applica-
tions, pre-production prototypes and testing for products already 
being sold do not qualify as development expenditure that may  
be recognized as an intangible asset. Capitalized development ex-
penses are amortized on a straight-line basis over a useful life of 
three to seven years and recognized in the cost of sales. In the opin-
ion of the Continental Group, the assumed useful life reflects the pe-
riod for which an economic benefit is likely to be derived from the 
corresponding development projects. Of the development costs in-
curred in 2021, including development expenses for internally de-
veloped software, €31.5 million (PY: €137.6 million) in the Automo-
tive Technologies group sector qualified for recognition as an asset. 
The requirements for the capitalization of development activities 
were not met in the Tires, ContiTech and Contract Manufacturing 
business areas in the reporting year or the previous year. 
This results in a capitalization ratio of 1.2% (PY: 4.8%) for the Conti-
nental Group. 
Depreciation and amortization 
Depreciation and amortization decreased by €933.1 million to 
€2,258.4 million (PY: €3,191.5 million), equivalent to 6.7% of sales 
(PY: 10.0%). This included impairment totaling €29.1 million in 
2021 (PY: €800.1 million). 
Financial result 
The negative financial result improved by €51.6 million year-on-
year to €136.3 million (PY: €187.9 million) in 2021. This is attribut-
able primarily to interest income in connection with income tax 
payables. 
Interest income rose by €12.0 million year-on-year to €102.7 mil-
lion (PY: €90.7 million) in 2021. Interest income in connection with 
income tax payables accounted for €61.8 million of the total (PY: 
€1.6 million). This increase is primarily attributable to a ruling by 
the German Federal Constitutional Court in July 2021, according to 
which the interest rate of 6% p. a. previously applied for interest on 
claims for back taxes and tax refunds is unconstitutional. As a re-
sult, the provisions for possible interest payments on income tax li-
abilities were adjusted, and a reduced interest rate of 3% p. a. was 
assumed from January 1, 2019. As of the reporting year, expected 
income from long-term employee benefits and from pension funds 
is reported net against interest expense from long-term employee 
benefits. The resulting net expense is included in interest expense. 
In the previous year, expected income from long-term employee  
benefits and from pension funds amounted to €60.0 million. This 
did not include the interest income from the plan assets of the  
pension contribution funds. 
Interest expense totaled €180.4 million in 2021 and was thus 
€83.8 million lower than the previous year’s figure of €264.2 mil-
lion. As of the reporting year, interest expense from long-term em-
ployee benefits is reported net against expected income from long-
term employee benefits and from pension funds. The resulting net 
expense of €44.0 million is included in interest expense. This does 
not include the interest income from the plan assets of the pension 
contribution funds or the interest expense from the defined benefit 
obligations of the pension contribution funds. In the previous year, 
interest expense from long-term employee benefits totaled €112.3 
million. This did not include the interest expense from the defined 
benefit obligations of the pension contribution funds. At €136.4 
million, interest expense resulting mainly from bank borrowings, 
capital market transactions and other financing instruments was 
below the prior-year figure of €151.9 million. Interest expense on 
lease liabilities accounted for €25.1 million of this (PY: €26.0 mil-
lion). Interest expenses in connection with income tax payables 
amounted to €10.6 million (PY: €16.1 million). 
The bonds issued by Continental AG and Conti-Gummi Finance B.V., 
Maastricht, Netherlands, resulted in expenses of €50.7 million (PY: 
€50.0 million). The interest-reducing and interest-increasing effects 
from the repayments and issuance of bonds in 2020 largely offset 
each other. As a result, the expenses for 2021 were practically un-
changed from the previous year. 
Effects from currency translation resulted in a negative contribution 
to earnings of €128.1 million (PY: €86.0 million) in the reporting 
year. By contrast, effects from changes in the fair value of deriva-
tive instruments, and other valuation effects resulted in income of 
€69.5 million (PY: €71.6 million). Other valuation effects accounted 
for €121.7 million of this (PY: €7.0 million). The main cause was the 
reversal of allowances for doubtful accounts on loans and the re-
versal of a provision for loan commitments to the former associate 
OSRAM CONTINENTAL GmbH, Munich, Germany, and two of its 
subsidiaries. The derecognition of loans due to a debt waiver had 
an additional effect of €16.8 million. Taking into account exchange-
rate effects, this resulted in income totaling €89.4 million. Addi-
tional income of €30.9 million (PY: €4.4 million) was derived from 
changes in the value of other financial assets. Taking into account 
the sum of the effects from currency translation and changes in the 
fair value of derivative instruments, earnings in 2021 were nega-
tively impacted by €180.3 million (PY: €21.4 million). This resulted 
primarily from the development of the Chinese renminbi in relation 
to the euro.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
50
 
Income tax expense 
Income tax expense in fiscal 2021 amounted to €359.5 million  
(PY: tax income of €50.3 million). The tax rate was 21.0%, com-
pared with 31.5% in the previous year. The prior-year tax rate is 
presented on an adjusted basis before the permanent effects of  
the goodwill impairment recognized in the previous year.As in the 
previous year, foreign tax rate differences as well as incentives and 
tax holidays had positive effects in the year under review. The tax 
rate was negatively impacted by non-cash allowances on deferred 
tax assets totaling €109.5 million (PY: €121.7 million),  
of which €26.9 million (PY: €25.8 million) was for previous years.  
Furthermore, as in the previous year, the tax rate was negatively  
affected by non-deductible expenses and non-imputable foreign 
withholding taxes. 
Net income attributable to the shareholders of the parent 
Net income attributable to the shareholders of the parent improved 
by €2,416.9 million in 2021 to €1,455.0 million (PY: -€961.9 mil-
lion). Basic earnings per share amounted to €7.28 (PY: -€4.81). Basic 
earnings per share from continuing operations amounted to €6.49 
(PY: -€3.02). The figures for basic earnings per share were the same 
as for diluted earnings per share. 
Employees 
The number of employees in the Continental Group fell by 5,021 
from 195,896 in 2020 to 190,875. 
In the Automotive Technologies group sector, lower production vol-
umes and productivity improvements led to a total reduction of 
2,311 employees. The number of employees in the Rubber Tech-
nologies group sector declined by 2,150. This was primarily due to 
the adjustment to demand-driven production as well as efficiency 
and structural programs. The number of employees in the Contract 
Manufacturing group sector fell by 598 to 2,904 (PY: 3,502). 
 
 
Employees by region in % 
2021 
2020 
Germany 
24 
25 
Europe excluding Germany 
34 
33 
North America 
18 
18 
Asia-Pacific 
20 
19 
Other countries 
4 
5

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
51
 
Financial Position 
› Free cash flow at €1.4 billion 
› Cash flow arising from investing activities at €1.6 billion 
› Net indebtedness at €3.8 billion 
Reconciliation of cash flow 
EBIT from continuing and discontinued operations increased by 
€2,877.9 million year-on-year to €2,159.8 million (PY: -€718.1  
million). 
Interest payments fell by €4.0 million to €165.4 million (PY: €169.4 
million). 
Income tax payments decreased by €134.3 million to €751.2  
million (PY: €885.5 million). 
The cash-effective increase in working capital led to a cash outflow 
of €445.1 million (PY: €579.2 million). This resulted from an increase 
in inventories of €1,417.7 million (PY: decrease of €205.6 million). 
The increase was offset by a rise in operating liabilities of €941.4 
million (PY: reduction of €925.0 million) and a decrease in operat-
ing receivables of €31.2 million (PY: €140.2 million). 
Cash flow from operating activities rose by €240.4 million year-on-
year to €2,954.4 million (PY: €2,714.0 million) in 2021, correspond-
ing to 7.7% of sales (PY: 7.2%). 
Cash flow arising from investing activities amounted to an outflow 
of €1,582.0 million (PY: €1,835.3 million). Capital expenditure on 
property, plant and equipment, and software was down €116.6 mil-
lion from €1,942.4 million to €1,825.8 million before the capitaliza-
tion of borrowing costs and right-of-use assets from leases. The net 
amount from the acquisition and disposal of companies and busi-
ness operations resulted in a total cash inflow of €218.1 million in 
2021 (PY: €233.2 million). This cash inflow is mainly attributable to 
a disposal in the ContiTech segment and the sale of a minority 
stake that had been held as a financial investment. 
Free cash flow for fiscal 2021 amounted to €1,372.4 million  
(PY: €878.7 million), corresponding to a year-on-year increase  
of €493.7 million. 
Capital expenditure (additions) 
Capital expenditure for property, plant and equipment, and soft-
ware amounted to €2,152.4 million in 2021 (PY: €2,232.2 million). 
The capital expenditure ratio was 5.6% (PY: 5.9%). Capital expendi-
ture for continuing operations rose by €167.7 million to €1,947.4 
million (PY: €1,779.7 million), whereas the disposal of Vitesco Tech-
nologies had an offsetting effect. The Tires and Autonomous Mobil-
ity and Safety business areas in particular contributed to the in-
crease of €167.7 million. The capital expenditure ratio for continu-
ing operations was 5.8% (PY: 5.6%). 
Open purchase commitments for property, plant and equipment 
amounted to €672.7 million (PY: €569.9 million). Investment re-
quirements are financed from operating cash flow and available 
cash and cash equivalents. 
Financing and indebtedness 
As at December 31, 2021, gross indebtedness amounted to 
€6,260.5 million (PY: €7,334.4 million), down €1,073.9 million on 
the previous year’s level. 
Based on quarter-end values, 80.9% (PY: 77.4%) of gross indebted-
ness taking into account hedging measures had fixed interest rates 
on average over the year. 
The carrying amount of the bonds decreased by €194.4 million 
from €3,501.7 million in the previous year to €3,307.3 million.  
The only change in the bond portfolio in the reporting year was  
the repayment of the €200.0-million Continental AG bond due on 
April 12, 2021, at a rate of 100.00%. The private placement had a 
variable interest rate and a term of one and a half years. 
Bank loans and overdrafts amounted to €1,199.7 million (PY: 
€1,559.8 million) as at December 31, 2021, and were therefore 
€360.1 million below the previous year’s level. 
The syndicated loan that was renewed ahead of schedule in De-
cember 2019 consists of a revolving tranche of €4,000.0 million 
and has an original term of five years. The margin will also depend 
on the Continental Group’s sustainability performance. In Novem-
ber 2021, Continental exercised the second and final option to ex-
tend the term by one year. The lending banks then extended this  
financing commitment until December 2026 at unchanged condi-
tions. As in the previous year, this revolving loan had not been uti-
lized as at December 31, 2021. The additional syndicated loan of 
€3,000.0 million concluded in May 2020 with a term of 364 days 
expired in May 2021 and was not utilized. 
Other indebtedness decreased by €519.4 million to €1,753.5 mil-
lion (PY: €2,272.9 million) as at the end of 2021. This decline is pri-
marily due to reduced use of commercial paper programs and 
lower lease liabilities. Commercial paper issuances resulted in a car-
rying amount of €17.1 million (PY: €263.4 million). Lease liabilities 
decreased by €268.9 million year-on-year to €1,274.1 million (PY: 
€1,543.0 million). As at the end of 2021, the utilization of sale-of-re-
ceivables programs, at €286.8 million (PY: €296.0 million), was only 
slightly lower than in the previous year. Three sale-of-receivables 
programs with a total financing volume of €400.0 million were 
used within the Continental Group as at the end of 2021, the same 
as in the previous year. 
Cash and cash equivalents, derivative instruments and interest-
bearing investments were down by €700.3 million at €2,495.0  
million (PY: €3,195.3 million).

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
52
 
Net indebtedness decreased by €373.6 million as compared to the 
end of 2021 to €3,765.5 million (PY: €4,139.1 million). The gearing 
ratio declined year-on-year to 29.8% (PY: 32.7%). 
As at December 31, 2021, the Continental Group had liquidity re-
serves totaling €7,149.4 million (PY: €10,719.5 million), consisting 
of cash and cash equivalents of €2,269.1 million (PY: €2,938.7 
million) and committed, unutilized credit lines of €4,880.3 million 
(PY: €7,780.8 million). 
The restrictions that may impact the availability of capital are also 
understood to comprise all existing restrictions on the cash and 
cash equivalents. In the Continental Group, the aforementioned 
cash and cash equivalents are restricted with regard to pledged 
amounts and balances in countries with foreign-exchange re-
strictions or other barriers to accessing liquidity. The assessment  
of any restrictions related to cash and cash equivalents is made on 
each respective reporting date. Taxes to be paid on the transfer of 
cash assets from one country to another are not usually consid-
ered to represent a restriction on cash and cash equivalents. As at 
December 31, 2021, unrestricted cash and cash equivalents to-
taled €1,998.2 million (PY: €2,639.8 million). 
 
Reconciliation of net indebtedness 
€ millions 
December 31, 2021 
December 31, 2020 
Long-term indebtedness 
4,643.2 
5,144.4 
Short-term indebtedness 
1,617.3 
2,190.0 
Long-term derivative instruments and interest-bearing investments 
–113.2 
–142.6 
Short-term derivative instruments and interest-bearing investments 
–112.7 
–114.0 
Cash and cash equivalents 
–2,269.1 
–2,938.7 
Net indebtedness 
3,765.5 
4,139.1 
 
 
 
 
Reconciliation of change in net indebtedness  
€ millions 
2021 
2020 
Net indebtedness from continuing and discontinued operations at the beginning of the reporting period 
4,139.1 
4,071.7 
 
  
  
Cash flow arising from operating activities 
2,954.4 
2,714.0 
Cash flow arising from investing activities 
–1,582.0 
–1,835.3 
Cash flow before financing activities (free cash flow) 
1,372.4 
878.7 
Dividends paid 
— 
–600.0 
Dividends paid to and cash changes from equity transactions with non-controlling interests 
–29.3 
–52.7 
Non-cash changes 
–163.7 
–74.5 
Other 
–9.2 
–172.8 
Exchange-rate effects 
44.8 
–46.1 
Change in net indebtedness 
1,215.0 
–67.4 
Less net indebtedness from discontinued operations at the time of disposal 
–841.4 
n. a. 
 
  
  
Net indebtedness at the end of the reporting period 
3,765.5 
4,139.1

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
53
 
Net Assets Position 
› Equity at €12.6 billion 
› Equity ratio at 35.3% 
› Gearing ratio at 29.8% 
Spin-off of Vitesco Technologies 
The spin-off of Vitesco Technologies reduced Continental’s net as-
sets by €2,824.8 million. This therefore had a significant influence 
on its net assets position in fiscal 2021. 
Total assets 
At €35,840.8 million (PY: €39,638.0 million), total assets as at  
December 31, 2021, were €3,797.2 million lower than on the 
same date in the previous year. Goodwill, at €3,711.8 million, was 
down by €649.8 million compared to the previous year’s figure of 
€4,361.6 million. Other intangible assets fell by €259.2 million to 
€1,087.7 million (PY: €1,346.9 million). Property, plant and equip-
ment decreased by €2,349.0 million to €11,411.6 million (PY: 
€13,760.6 million). Deferred tax assets were down €221.9 million 
at €2,529.5 million (PY: €2,751.4 million). Inventories rose by 
€755.5 million to €4,993.7 million (PY: €4,238.2 million), while 
trade accounts receivable declined by €263.7 million to €7,089.5 
million (PY: €7,353.2 million). At €2,269.1 million, cash and cash 
equivalents were down €669.6 million from €2,938.7 million on 
the same date in the previous year. 
Non-current assets 
Non-current assets fell by €3,331.9 million year-on-year to €19,786.0 
million (PY: €23,117.9 million). In relation to the individual items  
of the statement of financial position, this is primarily due to the  
decline in property, plant and equipment of €2,349.0 million to 
€11,411.6 million (PY: €13,760.6 million), the reduction in goodwill 
of €649.8 million to €3,711.8 million (PY: €4,361.6 million) and the 
decline in other intangible assets of €259.2 million to €1,087.7 mil-
lion (PY: €1,346.9 million). 
Current assets 
Current assets fell by €465.3 million to €16,054.8 million (PY: 
€16,520.1 million). In the year under review, inventories increased 
by €755.5 million to €4,993.7 million (PY: €4,238.2 million), while 
trade accounts receivable fell by €263.7 million to €7,089.5 million 
(PY: €7,353.2 million). Cash and cash equivalents were lower by 
€669.6 million at €2,269.1 million (PY: €2,938.7 million). 
Equity 
Total equity (including non-controlling interests) was €4.1 million 
higher than in the previous year at €12,643.2 million (PY: €12,639.1 
million). Net income attributable to the shareholders of the parent 
added €1,455.0 million to equity. Other comprehensive income in-
creased by €1,629.9 million to -€2,735.5 million (PY: -€4,365.4 mil-
lion). The gearing ratio changed from 32.7% to 29.8%. The equity 
ratio improved to 35.3% (PY: 31.9%). 
Non-current liabilities 
At €10,329.4 million, non-current liabilities were down €2,413.7 
million from €12,743.1 million in the previous year. This decline is 
primarily due to a decrease in long-term employee benefits of 
€1,366.9 million to €4,743.0 million (PY: €6,109.9 million). In addi-
tion, long-term indebtedness fell by €501.2 million to €4,643.2 mil-
lion (PY: €5,144.4 million). Long-term provisions for other risks and 
obligations were lower by €454.9 million at €787.7 million (PY: 
€1,242.6 million). 
Current liabilities 
At €12,868.2 million, current liabilities were down €1,387.6 million 
from €14,255.8 million in the previous year. The main contributing 
factors were short-term provisions for other risks and obligations, 
which fell by €594.7 million to €1,130.7 million (PY: €1,725.4 mil-
lion) and short-term indebtedness, which decreased by €572.7 mil-
lion to €1,617.3 million (PY: €2,190.0 million). Tax payables also fell 
by €117.2 million to €672.9 million (PY: €790.1 million). 
Operating assets 
Operating assets from continuing operations increased from 
€17,583.5 million to €18,949.4 million as at December 31, 2021. 
In the previous year, operating assets from continuing and discon-
tinued operations amounted to €20,471.0 million. The following 
figures for the previous year refer to continuing and discontinued 
operations. 
Working capital was up €563.6 million at €6,259.5 million (PY: 
€5,695.9 million). This development was due to a €755.5 million 
increase in inventories to €4,993.7 million (PY: €4,238.2 million) 
and a €67.7 million decline in operating liabilities to €5,865.4 mil-
lion (PY: €5,933.1 million). Operating receivables had an offsetting 
effect, falling by €259.6 million to €7,131.2 million (PY: €7,390.8 
million). 
Non-current operating assets were down €3,124.6 million year-on-
year at €16,922.4 million (PY: €20,047.0 million). Goodwill fell by 
€649.8 million to €3,711.8 million (PY: €4,361.6 million). Property, 
plant and equipment decreased by €2,349.0 million to €11,411.6 
million (PY: €13,760.6 million). Other intangible assets fell by €259.2 
million to €1,087.7 million (PY: €1,346.9 million). Amortization of 
intangible assets from purchase price allocation (PPA) in the amount 
of €159.0 million (PY: €183.6 million) reduced the value of intangi-
ble assets. 
In the Vehicle Networking and Information business area, the agree-
ment with OSRAM GmbH, Munich, Germany, to terminate the joint 
venture OSRAM CONTINENTAL GmbH, Munich, Germany, in the 
form of five share deals and three asset deals led to an increase in 
operating assets of €102.9 million. 
As a result of a share deal in the Tires business area, operating  
assets rose by €12.7 million.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
54
 
In the ContiTech business area, business activities of Special Tech-
nologies and Solutions as well as Conveying Solutions were sold. 
This reduced operating assets by €60.9 million. 
Other changes in the scope of consolidation did not result in any 
notable additions to or disposal of operating assets at corporate 
level. 
Exchange-rate effects increased the Continental Group’s total oper-
ating assets by €657.2 million (PY: decrease of €1,069.7 million). 
Average operating assets from continuing operations fell by 
€1,149.6 million to €18,416.1 million as compared to the previous 
year (€19,565.7 million). In the previous year, average operating  
assets from continuing and discontinued operations amounted to 
€22,536.6 million. 
 
Consolidated statement of financial position 
Assets in € millions 
December 31, 2021 
December 31, 2020 
Goodwill 
3,711.8 
4,361.6 
Other intangible assets 
1,087.7 
1,346.9 
Property, plant and equipment 
11,411.6 
13,760.6 
Investments in equity-accounted investees 
305.9 
351.3 
Long-term miscellaneous assets 
3,269.0 
3,297.5 
Non-current assets 
19,786.0 
23,117.9 
Inventories 
4,993.7 
4,238.2 
Trade accounts receivable 
7,089.5 
7,353.2 
Short-term miscellaneous assets 
1,702.5 
1,990.0 
Cash and cash equivalents 
2,269.1 
2,938.7 
Current assets 
16,054.8 
16,520.1 
Total assets 
35,840.8 
39,638.0 
 
 
 
 
Equity and liabilities in € millions 
December 31, 2021 
December 31, 2020 
Total equity 
12,643.2 
12,639.1 
Non-current liabilities 
10,329.4 
12,743.1 
Trade accounts payable 
5,865.4 
5,933.1 
Short-term other provisions and liabilities 
7,002.8 
8,322.7 
Current liabilities 
12,868.2 
14,255.8 
Total equity and liabilities 
35,840.8 
39,638.0 
 
  
  
Net indebtedness 
3,765.5 
4,139.1 
Gearing ratio in % 
29.8 
32.7

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
55
 
Reconciliation to operating assets in 2021 
€ millions 
Autonomous 
Mobility and 
Safety 
Vehicle 
Networking and 
Information 
Tires 
ContiTech 
Contract 
Manufacturing 
Other/ 
Holding/ 
Consolidation 
Continental 
Group 
Total assets 
7,537.1 
6,982.4 
9,754.6 
4,418.8 
1,036.5 
6,111.4 
35,840.8 
Cash and cash equivalents 
— 
— 
— 
— 
— 
2,269.1 
2,269.1 
Short- and long-term derivative instruments, 
interest-bearing investments 
— 
— 
— 
— 
— 
225.9 
225.9 
Other financial assets 
16.0 
31.6 
28.8 
5.7 
0.4 
16.9 
99.4 
Less financial assets 
16.0 
31.6 
28.8 
5.7 
0.4 
2,511.9 
2,594.4 
Less other non-operating assets 
31.5 
–16.9 
42.6 
5.1 
0.3 
524.5 
587.1 
Deferred tax assets 
— 
— 
— 
— 
— 
2,529.5 
2,529.5 
Income tax receivables 
— 
— 
— 
— 
— 
303.4 
303.4 
Less income tax assets 
— 
— 
— 
— 
— 
2,832.9 
2,832.9 
Segment assets 
7,489.6 
6,967.7 
9,683.2 
4,408.0 
1,035.8 
242.1 
29,826.4 
 
  
  
  
  
  
  
  
Total liabilities and provisions 
4,404.7 
4,254.4 
4,098.5 
2,025.6 
388.5 
8,025.9 
23,197.6 
Short- and long-term indebtedness 
— 
— 
— 
— 
— 
6,260.5 
6,260.5 
Interest payable and other financial liabilities 
— 
— 
— 
— 
— 
26.9 
26.9 
Less financial liabilities 
— 
— 
— 
— 
— 
6,287.4 
6,287.4 
Deferred tax liabilities 
— 
— 
— 
— 
— 
101.6 
101.6 
Income tax payables 
— 
— 
— 
— 
— 
672.9 
672.9 
Less income tax liabilities 
— 
— 
— 
— 
— 
774.5 
774.5 
Less other non-operating liabilities 
1,493.3 
1,176.0 
963.5 
713.6 
106.6 
805.7 
5,258.7 
Segment liabilities 
2,911.4 
3,078.4 
3,135.0 
1,312.0 
281.9 
158.3 
10,877.0 
 
  
  
  
  
  
  
  
Operating assets 
4,578.2 
3,889.3 
6,548.2 
3,096.0 
753.9 
83.8 
18,949.4

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
56
 
Reconciliation to operating assets from continuing operations in 2020 
€ millions 
Autonomous 
Mobility and 
Safety 
Vehicle 
Networking and 
Information 
Tires 
ContiTech 
Contract 
Manufacturing 
Other/ 
Holding/ 
Consolidation 
Continental 
Group 
Total assets 
7,035.3 
6,216.9 
8,970.5 
4,257.8 
529.4 
7,131.9 
34,141.8 
Cash and cash equivalents 
— 
— 
— 
— 
— 
2,938.7 
2,938.7 
Short- and long-term derivative instruments, 
interest-bearing investments 
— 
— 
— 
— 
— 
256.6 
256.6 
Other financial assets 
23.7 
27.1 
13.9 
5.6 
0.5 
23.4 
94.2 
Less financial assets 
23.7 
27.1 
13.9 
5.6 
0.5 
3,218.7 
3,289.5 
Less other non-operating assets 
32.5 
4.7 
49.9 
0.5 
6.6 
654.6 
748.8 
Deferred tax assets 
— 
— 
— 
— 
— 
2,751.4 
2,751.4 
Income tax receivables 
— 
— 
— 
— 
— 
234.8 
234.8 
Less income tax assets 
— 
— 
— 
— 
— 
2,986.2 
2,986.2 
Segment assets 
6,979.1 
6,185.1 
8,906.7 
4,251.7 
522.3 
272.4 
27,117.3 
 
  
  
  
  
  
  
  
Total liabilities and provisions 
4,357.8 
4,144.9 
3,467.7 
1,967.1 
401.5 
9,228.6 
23,567.6 
Short- and long-term indebtedness 
— 
— 
— 
— 
— 
7,334.4 
7,334.4 
Interest payable and other financial liabilities 
— 
— 
— 
— 
— 
36.4 
36.4 
Less financial liabilities 
— 
— 
— 
— 
— 
7,370.8 
7,370.8 
Deferred tax liabilities 
— 
— 
— 
— 
— 
168.6 
168.6 
Income tax payables 
— 
— 
— 
— 
— 
790.1 
790.1 
Less income tax liabilities 
— 
— 
— 
— 
— 
958.7 
958.7 
Less other non-operating liabilities 
1,711.4 
1,293.8 
963.3 
768.9 
81.1 
885.8 
5,704.3 
Segment liabilities 
2,646.4 
2,851.1 
2,504.4 
1,198.2 
320.4 
13.3 
9,533.8 
 
  
  
  
  
  
  
  
Operating assets 
4,332.7 
3,334.0 
6,402.3 
3,053.5 
201.9 
259.1 
17,583.5

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Long-term Value Creation 
57
 
 
 
 
Financial support from public authorities 
Source: 2021 Annual Report > Consolidated Financial Statements > 
Notes to the Consolidated Financial Statements > Notes to the Consoli-
dated Statement of Income > 
8. Research and Development Expenses (
 p. 147), 9. Other Income 
and Expenses (
 p. 148), 14. Grants in Connection with the COVID-19 
Pandemic (
 p. 153) 
and 2021 Annual Report> Consolidated Financial Statements > Notes to 
the Consolidated Financial Statements > Notes to the Consolidated 
Statement of Financial Position >16. Property, Plant and Equipment  
(
 p. 156) 
 
Note: These texts are a compilation of the Annual Report and have been 
shortened. 
 
Research and Development: 
The research and development expenses include government 
grants totaling €43.9 million (PY: €37.3 million). 
Assets:  
In addition, government grants amounting to €7.5 million  
(PY: €9.2 million) that were not intended for investments in 
non-current assets were received and recognized in profit or 
loss in the “Miscellaneous” item. 
COVID-19 Pandemic:  
Government grants paid to the Continental Group as a result 
of the COVID-19 pandemic totaled €10.3 million (PY: €95.6 
million) in the year under review and were recognized in the 
income statement. These primarily include reimbursements of 
social security contributions in the amount of €4.5 million (PY: 
€56.6 million), the majority of which relate to short-time work 
income. 
Property, Plant and Equipment:  
Government investment grants of €86.7 million (PY: €23.7 
million) were deducted directly from cost. 
 
 
 
 
Continental Value Sharing Bonus
The Continental Value Sharing Bonus (CVSB – the Continental 
Group’s profit sharing scheme) is a global program by which 
each and every employee worldwide benefits from the 
Group’s positive performance.  
When calculating the bonus, both the legal regulations and 
contractual agreements in the individual countries are taken 
into account, in addition to economic performance.  
Due to the continuing economic challenges the company is 
facing, Continental has decided to suspend the CSVB for the 
years from 2020 up to and including 2023, payable in 2024. 
The company intends to resume paying a profit sharing bonus 
in the future, however. The Group is in this regard in negotia-
tions with the employees' representatives. 
 
 
 
 
In the Spotlight 
In the Spotlight

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
58
 
 
Management Approach 
 
Our ambition 
As set out in our sustainability ambition, we provide inspiring, 
healthy and fair working conditions. 
Concept 
The Continental Group’s Code of Conduct sets out the cornerstones 
for good working conditions as the basis of our global collaboration, 
including respect for human rights and fair working conditions. Em-
ployees regularly receive training on the Code of Conduct. 
Our HR strategy is geared toward meeting staffing requirements in 
terms of both quantity and quality. The two HR strategy initiatives 
“Industrialize Best Fit” and “Enable Transformation” are therefore fo-
cused on efficiently and effectively bringing together the right peo-
ple and positions and shaping the digital and technological transfor-
mation and cultural shift toward new forms of collaboration. Work-
force planning, the search for, diagnostic selection and development 
of talent (in particular in the areas of software and IT), the promotion 
of employee diversity and lifelong learning, the further development 
of the management culture and the flexibilization of working hours 
are therefore essential action fields of strategic HR work. 
We are tackling the impact of our Transformation 2019–2029 
structural program, which among other things is associated with 
the transformation in mobility and is likely to change up to 23,000 
jobs worldwide, with targeted training measures for the employees 
affected. New career prospects and employment opportunities are 
to be opened up on the internal as well as the external employ-
ment markets. 
Those responsible for HR are the HR functions at Continental 
Group, group sector, business area and country level, which work 
together in a global network. A special network of country coordi-
nators for labor relations is also part of this organization. 
We measure the success of HR work against the OUR BASICS Live 
Sustainable Engagement index, which is calculated on the basis of 
the annual employee survey. The index measures employee agree-
ment on topics such as whether they personally back the company 
values and whether they are proud to work for Continental. Other 
performance indicators we consult are the sickness rate and the 
unforced fluctuation rate. The sickness rate measures sickness-re-
lated absence relative to contractual work time, and the unforced 
fluctuation rate measures the voluntary departure of employees 
from the company relative to the average number of employees. 
The OUR BASICS Live Sustainable Engagement index has also 
been part of the LTI plans for the members of the Executive Board 
and global managers since fiscal 2020. The sickness rate is also 
part of this, although only for the plans launched in fiscal 2020. For 
more information, see the remuneration report on our website  
under Company/Executive Board. 
Results of the concept 
In fiscal 2021, the Sustainable Engagement index was 80% (PY: 
82% including Vitesco Technologies) and therefore fell short of the 
previous year. 
The sickness rate was up compared with the previous year at 3.7% 
(PY: 3.5% including Vitesco Technologies). For the unforced fluctua-
tion rate, we recorded an increase to 7.0% (PY: 4.6% including 
Vitesco Technologies), which applies to all regions to varying de-
grees. 
Information about personnel expenses in fiscal 2021 (i.e. wages 
and salaries, social security contributions and pension and post-
employment benefit costs) can be found in Note 10 of the notes to 
the consolidated statement of income on page 150 of this annual 
report. Employee benefits such as pensions, post-employment ben-
efits and long-term bonus payments are broken down in Note 30 
of the notes to the consolidated statement of financial position on 
page 173.  
Good working conditions performance 
indicators 
2021 
2020 
OUR BASICS Live Sustainable Engagement index 
in %1, 2 
80 
82 
Sickness rate in %3, 4 
3.7 
3.5 
Unforced fluctuation rate in %4, 5 
7.0 
4.6 
 
 
 
1 Definition: employee agreement on topics relating to sustainable engagement in the 
employee survey OUR BASICS Live. 
2 This is based on the responses of 47,472 participants (PY: 4,918 participants) as a 
representative random sample of Continental’s group sectors and countries. The 
participation rate was 75% (PY: 68%). 
3 Definition: sickness-related absence relative to contractual work time. 
4 Excluding leasing personnel (i.e. permanent staff only). 
5 Definition: voluntary departure of employees from the company relative to the 
average number of employees. 
 
 
Good Working Conditions 
Source: 2021 Annual Report > Management Report > Corporate Profile >  
Sustainability and Combined Non-Financial Statement (
 starting p. 36) 
 
Note: This section relates to continuing and discontinued operations, with the 
exception of performance indicators for the financial year 2021.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
59
 
 
Personnel Expenses 
Source: 2021 Annual Report > Consolidated Financial Statements > Notes to 
the Consolidated Financial Statements > Notes to the Consolidated Statement 
of Income > 8. Personnel Expenses (
 p. 150) 
 
The following total personnel expenses are included in function costs in the income statement: 
€ millions 
2021 
2020 
Wages and salaries 
7,547.3 
8,033.4 
Social security contributions 
1,474.8 
1,411.1 
Pension and post-employment benefit costs 
414.7 
362.9 
Personnel expenses1 
9,436.8 
9,807.4 
 
 
 
1 Personnel expenses from continuing and discontinued operations in the reporting period amounted to €10,884.4 million (PY: 11,768.7 million).
Compared to the 2020 reporting year, personnel expenses de-
creased by €370.6 million to €9,436.8 million (PY: €9,807.4 mil-
lion). The average number of employees in 2021 was 193,451 (PY: 
195,941). As at the end of the year, there were 190,875 (PY: 
195,896) employees in the Continental Group. The year-on-year 
decrease in personnel expenses resulted in particular from lower 
provisions for restructuring measures. Social security contributions 
of the main German companies of the Continental Group (em-
ployer contributions) amounted to €262.1 million in the reporting 
year (PY: €317.8 million). 
Employee Benefits 
Source: 2021 Annual Report > Consolidated Financial Statements > Notes to 
the Consolidated Financial Statements > Notes to the Consolidated Statement 
of Financial Position > 30. Employee Benefits (
 starting p. 173) 
The following table outlines the employee benefits: 
 
December 31, 2021 
December 31, 2020 
€ millions 
Short-term 
Long-term 
Short-term 
Long-term 
Pension provisions (unfunded obligations and 
net liabilities from obligations and related funds) 
— 
4,286.8 
— 
5,528.8 
Provisions for other post-employment benefits 
— 
168.7 
— 
205.7 
Provisions for similar obligations 
1.4 
49.1 
4.3 
59.1 
Other employee benefits 
— 
225.3 
— 
303.8 
Liabilities for workers’ compensation 
29.4 
13.1 
34.7 
12.5 
Liabilities for payroll and personnel-related costs 
808.4 
— 
756.3 
— 
Termination benefits 
71.6 
— 
60.1 
— 
Liabilities for social security 
164.3 
— 
182.6 
— 
Liabilities for vacation 
168.4 
— 
198.5 
— 
Employee benefits 
1,243.5 
4,743.0 
1,236.5 
6,109.9 
Defined benefit assets  
(difference between pension obligations and related funds) 
  
101.6 
  
82.7

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
60
 
 
Long-term employee benefits 
Pension plans 
In addition to statutory pension insurance, the majority of employ-
ees are also entitled to defined benefit or defined contribution 
plans after the end of their employment. 
Our pension strategy is focusing on switching from defined benefit 
to defined contribution plans in order to offer both employees and 
the company a sustainable and readily understandable pension 
system. 
Many defined benefit plans have been closed for new employees 
or future service and replaced by defined contribution plans. 
In countries in which defined contribution plans are not possible 
for legal or economic reasons, defined benefit plans have been op-
timized or changed to minimize the associated risks of longevity, 
inflation and salary increases. 
Following the spin-off of Vitesco Technologies, the pension plans 
for the affected employees of the former Powertrain segment were 
separated and will be continued independently by Vitesco Technol-
ogies in the future. 
Defined benefit plans 
Defined benefit plans include pension plans, termination indemni-
ties regardless of the reason for the end of employment and other 
post-employment benefits. As a result of the significant increase in 
the number of employees in recent years and the high level of ac-
quisition activity, pension obligations essentially relate to active 
employees. The defined benefit pension plans cover 139,411 ben-
eficiaries, including 90,874 active employees, 23,475 former em-
ployees with vested benefits, and 25,062 retirees and surviving 
dependents. The pension obligations are concentrated in four 
countries: Germany, the USA, the United Kingdom and Canada, 
which account for more than 90% of total pension obligations. 
The weighted average term of the defined benefit pension obliga-
tions is around 19 years. This term is based on the present value 
of the obligations. 
Germany 
In Germany, Continental provides pension benefits through the 
cash balance plan, prior commitments and deferred compensa-
tion. 
The retirement plan regulation applicable to active members is 
based primarily on the cash balance plan and thus on benefit 
modules. When the insured event occurs, the retirement plan as-
sets are paid out as a lump-sum benefit, in installments or as a 
pension, depending on the amount of the retirement plan assets. 
There are no material minimum guarantees in relation to a particu-
lar amount of retirement benefits. 
Pension plans transferred to or assumed by Continental in the con-
text of acquisitions (Siemens VDO, Temic, Teves, Phoenix) were in-
cluded in the cash balance plans. For the main German companies, 
the cash balance plan is partly covered by funds in contractual 
trust arrangements (CTAs). In Germany, there are no legal or regu-
latory minimum funding requirements. 
The separation of the pension plans for employees of the former 
Powertrain segment also resulted in a separation of the associated 
CTAs. 
The CTAs are legally independent from the company and manage 
the plan assets as trustees in accordance with the respective CTAs. 
Some prior commitments were granted through two legally inde-
pendent pension contribution funds. Pensionskasse für Angestellte 
der Continental Aktiengesellschaft VVaG and Pensionskasse von 
1925 der Phoenix AG VVaG have been closed since March 1, 
1984, and July 1, 1983, respectively. The pension contribution 
funds are smaller associations within the meaning of Section 53 of 
the German Insurance Supervision Act (Versicherungsaufsichts-
gesetz – VAG) and are subject to the supervision of the German 
Federal Financial Supervisory Authority (Bundesanstalt für Finanz-
dienstleistungsaufsicht). The investment regulations are in accord-
ance with the legal requirements and risk structure of the obliga-
tions. The pension contribution funds have tariffs with an interest 
rate of 2.6%. Under the German Company Pensions Law (Betriebs-
rentengesetz – BetrAVG), Continental is ultimately liable for the im-
plementation path of the pension contribution fund. In accordance 
with IAS 19, Employee Benefits, the pension obligations covered 
by the pension contribution fund are therefore defined benefit 
pension plans. The pension contribution funds met their minimum 
net funding requirement as at December 31, 2021. However, 
given that only the plan members are entitled to the assets and 
amounts generated, the benefit obligations are recognized in the 
same amount as the existing assets at fair value. 
Continental also supports private contribution through deferred 
compensation schemes. 
Deferred compensation is essentially offered through a fully 
funded multi-employer plan (Höchster Pensionskasse VVaG) for 
contributions up to 4% of the assessment ceiling in social security. 
The pension contribution fund ensures guaranteed minimum inter-
est for which Continental is ultimately liable under the German 
Company Pensions Law. The company is not liable for guarantees 
to employees of other companies. As Höchster Pensionskasse 
VVaG is a combined defined benefit plan for several companies 
and Continental has no right to the information required for ac-
counting for this defined benefit plan, this plan is recognized as a 
defined contribution plan. 
Entitled employees can use the cash balance plan for deferred 
compensation contributions above the 4% assessment ceiling. 
This share is funded by insurance annuity contracts.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
61
 
 
USA 
Owing to its acquisition history, Continental has various defined 
benefit plans in the USA, which were closed to new entrants and 
frozen to accretion of further benefits in a period from April 1, 
2005, to December 31, 2011. In 2017, acquisitions also included 
an open defined benefit plan for unionized employees. 
The closed defined benefit plans are commitments on the basis of 
the average final salary and cash balance commitments. The de-
fined benefit plans for unionized and non-unionized employees are 
based on a pension multiplier per year of service. 
Closed defined benefit plans were replaced by defined contribu-
tion plans. Defined contribution plans apply to the majority of ac-
tive employees in the USA. 
The plan assets of the defined benefit plans are managed in a mas-
ter trust. Investment supervision was delegated to the Pension 
Committee, a body appointed within the Continental Group. The le-
gal and regulatory framework for the plans is based on the US Em-
ployee Retirement Income Security Act (ERISA). 
The valuation of the financing level is required on the basis of this 
law. The interest rate used for this calculation is the average rate 
over a period of 25 years and therefore currently higher than the 
interest rate used to discount obligations under IAS 19. The statu-
tory valuation therefore gives rise to a lower obligation than that in 
line with IAS 19. There is a regulatory requirement to ensure mini-
mum funding of 80% in the defined benefit plans to prevent bene-
fit curtailments. 
United Kingdom 
Continental maintains four defined benefit plans as a result of its 
history of acquisitions in the United Kingdom. All plans are com-
mitments on the basis of the average or final salary. The four plans 
were closed to new employees in the period between April 1, 
2002, and November 30, 2004. Continental offers defined contri-
bution plans for all employees who have joined the company since 
that time. 
As at April 5, 2016, the Continental Group Pension and Life Assur-
ance Scheme was frozen to accretion of further benefits. It was re-
placed by a defined contribution plan as at April 6, 2016. 
As at July 31, 2017, the Mannesmann UK Pension Scheme was 
frozen to accretion of further benefits. It was replaced by a defined 
contribution plan as at August 1, 2017. 
Our pension strategy in the UK focuses on reducing risks and in-
cludes the option of partially or completely funding by purchasing 
annuities. 
The funding conditions are defined by the UK Pensions Regulator 
and the corresponding laws and regulations. The defined benefit 
plans are managed by trust companies. The boards of trustees of 
these companies have an obligation solely to the good of the ben-
eficiaries on the basis of the trust agreement and the law. 
The necessary funding is determined every three years through 
technical valuations in line with local provisions. The obligations 
are measured using a discount rate based on government bonds 
and other conservatively selected actuarial assumptions. Com-
pared to IAS 19, which derives the discount rate from senior cor-
porate bonds, this usually results in a higher obligation. Three of 
the four defined benefit plans had a funding deficit on the basis of 
the most recent technical valuation. The trustees and the company 
have agreed on a recovery plan that provides for additional tempo-
rary annual payments. The valuation process must be completed 
within 15 months of the valuation date. 
The most recent technical valuations of the four defined benefit 
pension plans took place with their valuation dates between De-
cember 2017 and March 2019 and led to the following result: 
› Continental Teves UK Employee Benefit Scheme (assessment as 
at December 31, 2017): As part of the assessment, an agree-
ment on a minimum annual endowment of GBP 1.4 million over 
a period of five years was resolved. This amount is payable until 
the next review is performed in the technical assessment. 
In 2021, another extraordinary allocation was made to the Conti-
nental Teves UK Employee Benefit Scheme of GBP 10 million. 
› Continental Group Pension and Life Assurance Scheme (assess-
ment as at April 5, 2018): An agreement was concluded with an 
insurer in 2019 for a complete buy-out through the acquisition 
of annuities. The necessary data clarifications and preparatory 
work progressed in 2021 but have not yet been finalized. Finali-
zation is expected in 2022. 
› Mannesmann UK Pension Scheme (assessment as at March 31, 
2019): As part of the assessment, an agreement was resolved on 
a minimum annual endowment of GBP 75,000 for the period 
from April 1, 2019, to September 30, 2019; a minimum monthly 
endowment of GBP 100,000 for the period from October 1, 
2019, to March 31, 2020; a minimum monthly endowment of 
GBP 150,000 for the period from April 1, 2020, to March 31, 
2021; a minimum monthly endowment of GBP 175,000 for the 
period from April 1, 2021, to March 31, 2023; and a minimum 
monthly endowment of GBP 200,000 for the period from April 1, 
2023, to August 31, 2026. 
› Phoenix Dunlop Oil & Marine Pension Scheme (assessment as at 
December 31, 2018): As part of the assessment, an agreement 
was resolved on a minimum annual endowment of GBP 2.2 mil-
lion and an annual adjustment of 3.5% over a period of four 
years. Thereafter, there will be an annual payment of GBP 1.4 mil-
lion and an annual adjustment of 3.5% over a period of another 
three years.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
62
 
 
Canada 
Continental maintains various defined benefit plans as a result of 
its history of acquisitions. The pension plans are based mainly on a 
pension multiplier per year of service. 
Fluctuations in the amount of the pension obligation resulting 
from exchange-rate effects are subject to the same risks as overall 
business development. These fluctuations relate mainly to the cur-
rencies of the USA, Canada and the UK and have no material im-
pact on Continental. For information on the effects of interest-rate 
risks and longevity risk on the pension obligations, please refer to 
the sensitivities described later on in this section. 
The pension obligations for Germany, the USA, Canada, the UK 
and other countries, as well as the amounts for Continental as a 
whole, are shown in the following tables. 
 
The reconciliation of the changes in the defined benefit obligations from the beginning to the end of the year is as follows: 
 
2021 
2020 
€ millions 
Germany 
USA 
Canada 
UK 
Other 
Total 
Germany 
USA Canada 
UK 
Other 
Total 
Defined benefit obligations  
as at January 1 
6,570.2 
1,139.0 
125.6 
426.1 
386.9 
8,647.8 
5,781.7 
1,151.6 
124.8 
415.3 
401.7 
7,875.1 
Exchange-rate differences 
— 
89.1 
7.7 
29.1 
5.3 
131.2 
— 
–106.4 
–8.5 
–21.8 
–12.6 
–149.3 
Current service cost 
287.3 
5.0 
1.9 
2.2 
25.2 
321.6 
276.2 
3.9 
1.7 
2.2 
28.1 
312.1 
Service cost from plan amendments 
— 
— 
— 
— 
30.1 
30.1 
— 
— 
— 
0.7 
1.2 
1.9 
Curtailments/settlements 
— 
— 
— 
— 
–2.4 
–2.4 
— 
— 
— 
— 
–0.4 
–0.4 
Interest on defined benefit 
obligations 
51.3 
27.3 
2.6 
6.1 
8.8 
96.1 
69.0 
36.3 
3.5 
7.7 
9.1 
125.6 
Actuarial gains/losses from changes 
in demographic assumptions 
— 
3.5 
— 
–1.9 
0.2 
1.8 
— 
–8.1 
— 
6.0 
–6.1 
–8.2 
Actuarial gains/losses from changes 
in financial assumptions 
–591.9 
–51.4 
–8.5 
–16.2 
–18.3 
–686.3 
543.3 
119.3 
9.1 
43.0 
–10.5 
704.2 
Actuarial gains/losses from 
experience adjustments 
–1.5 
0.6 
–1.3 
–5.0 
–3.8 
–11.0 
5.9 
5.8 
–0.2 
–2.4 
–0.6 
8.5 
Net changes in the scope of 
consolidation 
–837.5 
–80.0 
–80.1 
— 
–61.8 
–1,059.4 
— 
— 
— 
— 
0.0 
0.0 
Employee contributions 
— 
— 
0.3 
0.1 
–0.6 
–0.2 
— 
— 
0.3 
0.1 
–0.6 
–0.2 
Other changes 
0.7 
— 
— 
— 
–0.3 
0.4 
— 
— 
–0.1 
— 
–0.4 
–0.5 
Benefit payments 
–109.8 
–61.5 
–5.0 
–16.8 
–28.0 
–221.1 
–105.9 
–63.4 
–5.0 
–24.7 
–22.0 
–221.0 
Defined benefit obligations 
as at December 31 
5,368.8 
1,071.6 
43.2 
423.7 
341.3 
7,248.6 
6,570.2 
1,139.0 
125.6 
426.1 
386.9 
8,647.8

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
63
 
 
The reconciliation of the changes in the fund assets from the beginning to the end of the year is as follows: 
 
2021 
2020 
€ millions 
Germany 
USA 
Canada 
UK 
Other 
Total 
Germany 
USA Canada 
UK 
Other 
Total 
Fair value of fund assets  
as at January 1 
1,368.2 
1,157.5 
105.9 
408.8 
162.8 
3,203.2 
1,288.5 
1,077.5 
104.7 
398.5 
163.7 
3,032.9 
Exchange-rate differences 
— 
91.5 
6.6 
28.9 
0.8 
127.8 
— 
–106.4 
–7.1 
–21.0 
–6.7 
–141.2 
Interest income from pension funds 
13.6 
27.8 
2.2 
5.9 
4.0 
53.5 
29.7 
34.3 
3.0 
7.5 
4.2 
78.7 
Actuarial gains/losses from 
fund assets 
33.1 
–35.4 
4.3 
–5.0 
1.5 
–1.5 
21.6 
118.8 
7.7 
40.4 
3.0 
191.5 
Employer contributions 
50.0 
4.0 
2.7 
19.3 
13.3 
89.3 
50.7 
98.3 
2.7 
8.0 
11.0 
170.7 
Employee contributions 
— 
— 
0.3 
0.1 
0.9 
1.3 
— 
— 
0.3 
0.1 
0.2 
0.6 
Net changes in the scope of 
consolidation 
–109.6 
–70.2 
–77.5 
— 
–24.1 
–281.4 
— 
— 
— 
— 
— 
— 
Other changes 
— 
–1.7 
–0.4 
— 
–0.1 
–2.2 
— 
–1.6 
–0.4 
— 
–0.2 
–2.2 
Benefit payments 
–24.3 
–61.5 
–5.0 
–16.8 
–18.1 
–125.7 
–22.3 
–63.4 
–5.0 
–24.7 
–12.4 
–127.8 
Fair value of fund assets  
as at December 31 
1,331.0 
1,112.0 
39.1 
441.2 
141.0 
3,064.3 
1,368.2 
1,157.5 
105.9 
408.8 
162.8 
3,203.2 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The carrying amount consisting of the defined benefit assets and 
the pension provisions decreased by €1,260.9 million compared 
with the previous year. This was primarily due to the spin-off of 
Vitesco Technologies. 
The defined benefit assets increased by €18.9 million year-on-year. 
This was due chiefly to an additional allocation to the pension plans 
in the United Kingdom. 
€7,135.8 million (PY: €8,498.3 million) of the defined benefit obli-
gations as at December 31, 2021, related to plans that are fully or 
partially funded, and €112.8 million (PY: €149.5 million) related to 
plans that are unfunded. 
The €1,399.2 million decrease in the defined benefit obligations as 
compared to December 31, 2020, resulted in particular from the 
spin-off of Vitesco Technologies. 
The fund assets in Germany include the CTA assets amounting to 
€996.6 million (PY: €1,016.4 million), pension contribution fund as-
sets of €211.8 million (PY: €223.9 million), insurance annuity con-
tracts amounting to €122.3 million (PY: €127.6 million) and further 
plan assets of €0.3 million (PY: €0.3 million). 
In the year under review, fund assets decreased by €138.9 million 
to €3,064.3 million. This was primarily due to the spin-off of Vitesco 
Technologies. 
Actuarial gains and losses on fund assets in Germany resulted from 
actuarial gains of €33.1 million (PY: €21.0 million) from the CTAs. 
In the Continental Group, there are pension contribution funds for 
previously defined contributions in Germany that have been closed 
to new entrants since July 1, 1983, and March 1, 1984, respec-
tively. As at December 31, 2021, the minimum net funding require-
ment was exceeded; Continental AG has no requirement to make 
additional contributions. The pension fund assets had a fair value of 
€211.8 million as at December 31, 2021 (PY: €223.9 million). The 
pension contribution funds have tariffs with an interest rate of 
2.6%. Under the German Company Pensions Law, Continental AG is 
ultimately liable for the implementation path of the pension contri-
bution fund. It therefore constitutes a defined benefit pension plan 
that must be reported in line with the development of pension pro-
visions. However, given that only the plan members are entitled to 
the assets and income generated, the benefit obligations are recog-
nized in the same amount as the existing assets at fair value.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
64
 
 
The following table shows the reconciliation of the funded status to the amounts contained in the statement of financial position: 
 
December 31, 2021 
December 31, 2020 
€ millions 
Germany 
USA 
Canada 
UK 
Other 
Total 
Germany 
USA 
Canada 
UK 
Other 
Total 
Funded status1 
–4,037.8 
40.4 
–4.1 
17.5 
–200.3 
–4,184.3 
–5,202.0 
18.5 
–19.7 
–17.3 
–224.1 
–5,444.6 
Asset ceiling 
— 
— 
— 
— 
–0.9 
–0.9 
— 
— 
–1.4 
— 
–0.1 
–1.5 
Carrying amount 
–4,037.8 
40.4 
–4.1 
17.5 
–201.2 
–4,185.2 
–5,202.0 
18.5 
–21.1 
–17.3 
–224.2 
–5,446.1 
 
 
 
 
 
 
 
 
 
 
 
 
 
1 Difference between fund assets and defined benefit obligations. 
The carrying amount comprises the following items of the statement of financial position: 
 
December 31, 2021 
December 31, 2020 
€ millions 
Germany 
USA 
Canada 
UK 
Other 
Total 
Germany 
USA 
Canada 
UK 
Other 
Total 
Defined benefit assets 
— 
69.6 
— 
22.9 
9.1 
101.6 
— 
74.8 
1.5 
— 
6.4 
82.7 
Pension provisions 
–4,037.8 
–29.2 
–4.1 
–5.4 
–210.3 
–4,286.8 
–5,202.0 
–56.3 
–22.6 
–17.3 
–230.6 
–5,528.8 
Carrying amount 
–4,037.8 
40.4 
–4.1 
17.5 
–201.2 
–4,185.2 
–5,202.0 
18.5 
–21.1 
–17.3 
–224.2 
–5,446.1 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The assumptions used to measure the pension obligations – in  
particular, the discount factors for determining the interest on ex-
pected pension obligations and the expected return on fund assets, 
as well as the long-term salary growth rates and the long-term pen-
sion trend – are specified for each country. 
 
 
In the principal pension plans, the following weighted-average valuation factors as at December 31 of the year have been used: 
 
2021 
2020 
% 
Germany1 
USA 
Canada 
UK 
Other 
Germany1 
USA 
Canada 
UK 
Other 
Discount rate 
1.25 
2.80 
3.20 
1.90 
3.40 
0.81 
2.40 
2.47 
1.40 
2.43 
Long-term salary growth rate  
3.00 
0.00 
3.00 
1.36 
3.18 
3.00 
0.00 
1.06 
1.32 
2.36 
 
 
 
 
 
 
 
 
 
 
 
1 Not including the pension contribution funds. 
Another parameter for measuring the pension obligation is the 
long-term pension trend. The following weighted average long-
term pension trend was used as at December 31, 2021, for the 
key countries: Germany 1.75% (PY: 1.75%), Canada 0.0% (PY: 1.6%) 
and the United Kingdom 3.5% (PY: 3.12%). For the USA, the long-
term pension trend does not constitute a significant measurement 
parameter.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
65
 
 
Net pension cost can be summarized as follows: 
 
2021 
2020 
€ millions 
Ger-
many 
USA 
Can-
ada 
UK 
Other 
Continuing 
operations 
Continuing 
and 
discontinued 
operations 
Ger-
many 
USA 
Can-
ada 
UK 
Other 
Continuing 
operations 
Continuing 
and 
discontinued 
operations 
Current service cost 
247.1 
5.0 
1.9 
2.2 
21.9 
278.1 
321.6 
224.9 
3.9 
1.7 
2.2 
22.2 
254.9 
312.1 
Service cost from plan 
amendments 
— 
— 
— 
— 
30.1 
30.1 
30.1 
— 
— 
— 
0.7 
1.2 
1.9 
1.9 
Curtailments/settlements 
— 
— 
— 
— 
–1.8 
–1.8 
–2.4 
— 
— 
— 
— 
–0.2 
–0.2 
–0.4 
Interest on defined benefit 
obligations 
46.2 
26.7 
1.2 
6.1 
7.5 
87.7 
96.1 
60.4 
35.2 
1.2 
7.7 
7.5 
112.0 
125.6 
Expected return on the 
pension funds 
–12.8 
–27.2 
–0.9 
–5.9 
–3.3 
–50.1 
–53.5 
–29.7 –33.2 
–0.9 
–7.4 
–3.2 
–74.4 
–78.6 
Effect of change of asset 
ceiling 
— 
— 
— 
— 
0.0 
0.0 
0.0 
— 
— 
— 
— 
0.0 
0.0 
0.0 
Other pension income 
and expenses 
— 
1.5 
0.2 
— 
–0.2 
1.5 
2.0 
— 
1.3 
0.2 
— 
–1.3 
0.2 
0.7 
Net pension cost 
280.5 
6.0 
2.4 
2.4 
54.2 
345.5 
393.9 
255.6 
7.2 
2.2 
3.2 
26.2 
294.4 
361.3 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
A change of plan was introduced in Mexico in the reporting year for consideration of previous years of service. This led to a service cost 
from plan amendments of €29.7 million in other countries.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
66
 
 
The table below shows the changes in actuarial gains and losses that are reported directly in equity: 
 
2021 
2020 
€ millions 
Ger- 
many USA 
Can-
ada 
UK 
Other 
Continuing 
operations 
Continuing 
and 
discontinued 
operations 
Ger- 
many 
USA 
Can-
ada 
UK 
Other 
Continuing 
operations 
Continuing 
and 
discontinued 
operations 
Actuarial gains/losses from 
defined benefit obligations 
527.2 46.4 
–5.8 
23.1 
–21.5 
569.4 
640.9 
–468.2 
–114.9 
–2.8 
–
46.6 
14.3 
–618.2 
–704.5 
Actuarial gains/losses from 
fund assets 
29.9 
–
36.9 
–1.5 
–5.0 
–0.8 
–14.3 
–6.1 
21.6 
115.7 
2.5 
40.4 
1.4 
181.6 
191.5 
Actuarial gains/losses from 
asset ceiling 
— 
— 
— 
— 
0.7 
0.7 
–0.2 
— 
— 
— 
— 
0.5 
0.5 
0.1 
Actuarial gains/losses 
557.1 
9.5 
–7.3 
18.1 
–21.6 
555.8 
634.6 
–446.6 
0.8 
–0.3 
–6.2 
16.2 
–436.1 
–512.9 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Actuarial gains and losses arise from increases or decreases in the 
present value of the defined benefit obligation due to changes in 
the actuarial assumptions made. The decrease in the discount fac-
tor in all countries in the 2021 reporting period as compared to 
2020 resulted in actuarial losses in all countries. The actuarial 
losses in the previous fiscal year likewise resulted from a decrease 
in interest rates compared to the prior year. 
If the other assumptions remained constant, the changes in indi-
vidual key actuarial assumptions that could reasonably have been 
possible at the reporting date would have impacted the defined 
benefit obligation by the following amounts. Although the analysis 
does not take account of the complete allocation of the cash flows 
expected under the plan, it provides an approximation of the sensi-
tivity of the assumptions shown. 
 
If the other assumptions are maintained, a 0.5-percentage-point increase or decrease in the discount rate used to discount pension obli-
gations would have had the following impact on the pension obligations as at the end of the reporting period: 
 
December 31, 2021 
December 31, 2020 
€ millions 
Germany1 
USA 
Canada 
UK 
Other 
Germany1 
USA 
Canada 
UK 
Other 
0.5% increase 
  
  
  
  
  
  
  
  
  
  
Effects on service and interest cost 
–11.6 
–2.4 
–0.3 
1.1 
–0.1 
–20.4 
–2.4 
0.0 
0.6 
–0.1 
Effects on benefit obligations 
–501.8 
–57.1 
–3.6 
–35.5 
–16.8 
–668.5 
–64.7 
–8.7 
–36.8 
–19.8 
0.5% decrease 
  
  
  
  
  
  
  
  
  
  
Effects on service and interest cost 
13.2 
2.0 
0.3 
–1.2 
0.1 
23.6 
2.0 
0.1 
–1.7 
0.1 
Effects on benefit obligations 
587.4 
62.9 
4.0 
39.8 
18.4 
789.0 
71.5 
9.8 
41.3 
21.8 
 
 
 
 
 
 
 
 
 
 
 
1 Not including the pension contribution funds.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
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A 0.5-percentage-point increase or decrease in the long-term salary growth rate would have had the following impact on the pension 
obligations as at the end of the reporting period: 
 
December 31, 2021 
December 31, 2020 
€ millions 
Germany 
USA1 
Canada 
UK 
Germany 
USA1 
Canada 
UK 
0.5% increase 
  
  
  
  
  
  
  
  
Effects on benefit obligations 
3.7 
— 
0.7 
2.5 
5.9 
— 
0.9 
2.4 
0.5% decrease 
  
  
  
  
  
  
  
  
Effects on benefit obligations 
–3.9 
— 
–0.6 
–2.5 
–8.7 
— 
–0.8 
–2.3 
 
 
 
 
 
 
 
 
 
1 Any change in the long-term salary growth rate would have no effect on the value of the benefit obligations. 
A 0.5-percentage-point increase or decrease in the long-term pension trend would have had the following impact on the pension obliga-
tions as at the end of the reporting period: 
 
December 31, 2021 
December 31, 2020 
€ millions 
Germany 
USA1 
Canada 
UK 
Germany 
USA1 
Canada 
UK 
0.5% increase 
  
  
  
  
  
  
  
  
Effects on benefit obligations 
176.0 
— 
— 
25.1 
221.6 
— 
4.2 
24.6 
0.5% decrease 
  
  
  
  
  
  
  
  
Effects on benefit obligations 
–159.5 
— 
— 
–24.9 
–200.1 
— 
–3.8 
–23.8 
 
 
 
 
 
 
 
 
 
1 Any change in the long-term pension trend would have no effect on the value of the benefit obligations. 
Changes in the discount rate and the salary and pension trends do 
not have a linear effect on the defined benefit obligations (DBO) 
owing to the financial models used (particularly due to the com-
pounding of interest rates). For this reason, the net periodic pen-
sion cost derived from the pension obligations does not change by 
the same amount as a result of an increase or decrease in the actu-
arial assumptions. 
In addition to the aforementioned sensitivities, the impact of a one-
year-longer life expectancy on the value of benefit obligations was 
computed for the key countries. A one-year increase in life expec-
tancy would lead to a €270.6 million (PY: €335.9 million) increase 
in the value of the benefit obligations, and that figure would be bro-
ken down as follows: Germany €216.4 million (PY: €278.2 million), 
USA €35.1 million (PY: €37.3 million), United Kingdom €18.3 mil-
lion (PY: €16.9 million) and Canada €0.8 million (PY: €3.5 million).  
In Germany, increased payments in the form of pensions rather 
than capital were assumed in the actuarial valuation, which has the 
effect of increasing the benefit obligations. For the calculation of 
pension obligations for domestic plans, life expectancy is based on 
the 2018 G mortality tables by Prof. Klaus Heubeck. For foreign 
pension plans, comparable criteria are used for the respective 
country. 
Plan assets 
The structure of the Continental Group’s plan assets is reviewed by 
the investment committees on an ongoing basis taking into ac-
count the forecast pension obligations. In doing so, the investment 
committees regularly review the investment decisions taken, the 
underlying expected returns of the individual asset classes reflecting 
empirical values and the selection of the external fund managers

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
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The portfolio structures of the pension funds at the measurement date for the fiscal years 2021 and 2020 are as follows: 
% 
2021 
2020 
Asset class 
Germany1 
USA 
Canada 
UK 
Other 
Germany1 
USA 
Canada 
UK 
Other 
Equity instruments 
6 
3 
59 
14 
14 
6 
6 
49 
10 
12 
Debt securities 
51 
94 
40 
31 
68 
54 
92 
38 
32 
74 
Real estate 
12 
— 
— 
1 
2 
12 
— 
— 
1 
1 
Absolute return2 
18 
— 
— 
6 
— 
17 
— 
— 
10 
— 
Cash, cash equivalents and other 
13 
3 
1 
10 
16 
11 
2 
13 
5 
13 
Annuities3 
— 
— 
— 
38 
— 
— 
— 
— 
42 
— 
Total 
100 
100 
100 
100 
100 
100 
100 
100 
100 
100 
 
 
 
 
 
 
 
 
 
 
 
1 The portfolio structure of the fund assets in Germany excludes the pension contribution funds whose assets are invested mainly in fixed-income securities and shares. 
2 This refers to investment products that aim to achieve a positive return regardless of market fluctuations. 
3 Annuities are insurance contracts that guarantee pension payments. 
The following table shows the cash contributions made by the company to the pension funds for 2021 and 2020 as well as the expected 
contributions for 2022 for continuing operations: 
€ millions 
2022 (expected) 
2021 
2020 
Germany 
41.4 
50.0 
50.7 
USA 
5.2 
4.0 
97.9 
Canada 
1.7 
2.3 
1.9 
UK 
6.0 
19.3 
8.0 
Other 
6.1 
13.1 
10.1 
Total1 
60.4 
88.7 
168.6 
 
 
 
 
1 Contributions made by continuing and discontinued operations in the reporting period totaled €89.3 million (PY: €170.7 million). 
The following overview contains the pension benefit payments made in the reporting year and the previous year, as well as the undis-
counted, expected pension benefit payments for the next 10 years: 
€ millions 
Germany 
USA 
Canada 
UK 
Other 
Total1 
Benefits paid 
  
  
  
  
  
  
2020 
104.5 
61.2 
1.2 
24.7 
18.9 
210.5 
2021 
108.0 
60.2 
2.4 
16.8 
24.2 
211.6 
Benefit payments as expected 
  
  
  
  
  
  
2022 
143.3 
63.5 
1.5 
11.6 
19.7 
239.6 
2023 
130.0 
63.6 
2.3 
12.4 
18.4 
226.7 
2024 
139.8 
63.8 
2.0 
12.8 
21.9 
240.3 
2025 
145.1 
63.9 
2.4 
13.6 
25.4 
250.4 
2026 
153.5 
63.7 
2.2 
14.8 
27.1 
261.3 
Total of years 2027 to 2031 
842.4 
309.7 
13.9 
86.2 
159.2 
1,411.4 
 
 
 
 
 
 
 
1 Benefits paid by continuing and discontinued operations in the reporting period totaled €222.1 million (PY: €221.0 million). 
The pension payments from 2020 onward relate to lump-sum 
amounts in connection with fixed service cost benefit plans, as well 
as annual pension benefits. Furthermore, the earliest eligible date 
for retirement has been assumed when determining future pension 
payments. The actual retirement date could occur later. Therefore, 
the actual payments in future years for present plan members 
could be lower than the amounts assumed.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
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For the current and four preceding reporting periods, the amounts of the defined benefit obligations, fund assets, funded status, as well as 
the remeasurement of plan liabilities and plan assets are as follows: 
€ millions 
2021 
2020 
2019 
2018 
2017 
Defined benefit obligations 
7,248.6 
8,647.8 
7,875.1 
6,595.3 
6,379.7 
Fund assets 
3,064.3 
3,203.2 
3,032.7 
2,728.5 
2,549.1 
Funded status 
–4,184.3 
–5,444.6 
–4,843.9 
–3,866.8 
–3,830.6 
Remeasurement of plan liabilities 
695.5 
704.5 
997.0 
–2.4 
–39.1 
Remeasurement of plan assets 
–1.5 
191.5 
209.0 
–104.5 
77.2 
 
 
 
 
 
 
 
Other post-employment benefits 
Certain subsidiaries – primarily in the USA and Canada – grant eligi-
ble employees healthcare and life insurance on retirement if they 
have fulfilled certain conditions relating to age and years of service. 
The amount and entitlement can be altered. Certain retirement 
benefits, in particular for pensions and healthcare costs, are pro-
vided in the USA for hourly paid workers at unionized tire plants 
under the terms of collective pay agreements. No separate fund as-
sets have been set up for these obligations. 
The weighted average term of the defined benefit pension obliga-
tion is around 12 years. This term is based on the present value of 
the obligation. 
 
The reconciliation of the changes in the defined benefit obligations and the financing status from the beginning to the end of the year is 
as follows: 
€ millions 
2021 
2020 
Defined benefit obligations as at January 1 
205.7 
215.9 
Exchange-rate differences 
12.8 
–18.5 
Current service cost 
1.2 
1.3 
Curtailments/settlements 
0.0 
–1.9 
Interest on healthcare and life insurance benefit obligations 
4.9 
6.6 
Actuarial gains/losses from changes in demographic assumptions 
–1.3 
–0.6 
Actuarial gains/losses from changes in financial assumptions 
–8.0 
18.4 
Actuarial gains/losses from experience adjustments 
–3.1 
–1.7 
Changes in the scope of consolidation 
–30.7 
— 
Benefit payments 
–12.8 
–13.8 
Defined benefit obligations/net amount recognized as at December 31 
168.7 
205.7 
 
 
 
 
The assumptions used for the discount rate and cost increases to calculate the healthcare and life insurance benefits vary according to 
conditions in the USA and Canada. The following weighted average valuation factors as at December 31 of the year have been used: 
% 
2021 
2020 
Discount rate 
2.92 
2.48 
Rate of increase in healthcare and life insurance benefits in the following year 
0.48 
0.82 
Long-term rate of increase in healthcare and life insurance benefits 
0.36 
0.68

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
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The net cost of healthcare and life insurance benefit obligations can be broken down as follows: 
 
2021 
2020 
€ millions 
Continuing 
operations 
Continuing and 
discontinued 
operations 
Continuing 
operations 
Continuing and 
discontinued 
operations 
Current service cost 
1.1 
1.2 
1.1 
1.3 
Service cost from plan amendments 
— 
— 
–1.8 
–1.8 
Curtailments/settlements 
0.0 
0.0 
–0.1 
–0.1 
Interest on healthcare and life insurance benefit obligations 
4.4 
4.9 
5.6 
6.6 
Net cost 
5.5 
6.1 
4.8 
6.0 
 
 
 
 
 
 
If the other assumptions remained constant, the changes in indi-
vidual key actuarial assumptions that could reasonably have been 
possible at the reporting date would have impacted the defined 
benefit obligation by the following amounts. Although the analysis 
does not take account of the complete allocation of the cash flows 
expected under the plan, it provides an approximation of the sensi-
tivity of the assumptions shown. 
 
The following table shows the effects of a 0.5% increase or decrease in the cost trend for healthcare and life insurance obligations: 
€ millions 
2021 
2020 
0.5% increase 
  
  
Effects on service and interest cost 
0.0 
0.1 
Effects on benefit obligations 
1.0 
2.1 
0.5% decrease 
  
  
Effects on service and interest cost 
0.0 
–1.0 
Effects on benefit obligations 
–0.9 
–1.9 
 
 
 
 
A 0.5-percentage-point increase or decrease in the discount rate specified above for calculating the net cost of healthcare and life insur-
ance benefit obligations would have had the following effect on net cost: 
€ millions 
2021 
2020 
0.5% increase 
  
  
Effects on service and interest cost 
0.4 
0.6 
Effects on benefit obligations 
–8.2 
–10.8 
0.5% decrease 
  
  
Effects on service and interest cost 
–0.4 
–0.5 
Effects on benefit obligations 
9.1 
12.1

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
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The following table shows the payments made for other post-employment benefits in the reporting year and the previous year, as well as 
the undiscounted, expected benefit payments for the next 10 years: 
€ millions 
  
Benefits paid1  
  
2020 
12.7 
2021 
11.9 
Benefit payments as expected  
  
2022 
13.3 
2023 
13.3 
2024 
13.4 
2025 
13.4 
2026 
13.3 
Total of years 2027 to 2031 
47.3 
 
 
1 Benefits paid by continuing and discontinued operations in the reporting period totaled €12.8 million (PY: €13.8 million). 
The amounts for the defined benefit obligations, funded status, and remeasurement of plan liabilities for the current and four preceding 
reporting periods are as follows: 
€ millions 
2021 
2020 
2019 
2018 
2017 
Defined benefit obligations 
169.5 
205.7 
215.9 
194.9 
209.3 
Funded status 
–169.5 
–205.7 
–215.9 
–194.9 
–209.3 
Remeasurement of plan liabilities 
12.4 
16.1 
13.2 
–15.6 
6.3 
 
 
 
 
 
 
 
Obligations similar to pensions 
Some companies of the Continental Group have made commit-
ments to employees for a fixed percentage of the employees’ com-
pensation. These entitlements are paid out when the employment 
relationship is terminated. In the year under review, expenses from 
these obligations amounted to €8.0 million (PY: €1.7 million). 
Defined contribution pension plans 
The Continental Group offers its employees pension plans in the 
form of defined contribution plans, particularly in the USA, the UK, 
Japan and China. Not including social security contributions, ex-
penses from defined contribution pension plans amounted to 
€76.4 million (PY: €84.6 million) in the fiscal year. 
Other employee benefits 
Other employee benefits include provisions for partial early retire-
ment programs and anniversary and other long-service benefits. 
The provisions for partial early retirement are calculated using a 
discount rate of 0.0% (PY: 0.0%). Provisions for anniversary and 
other long-service benefits were calculated using a discount rate of 
0.95% (PY: 0.45%). In accordance with the option under IAS 19, 
Employee Benefits, the interest component is reported in the finan-
cial result. 
Variable remuneration elements 
Liabilities for payroll and personnel-related costs also include varia-
ble components based on performance. The variable components 
that are based on performance comprise a short-term remunera-
tion component (performance bonus without equity deferral) as 
well as long-term remuneration components (long-term incentive 
and equity deferral of the performance bonus). Liabilities for payroll 
and personnel-related costs also include the amounts of variable 
remuneration converted into virtual shares of Continental AG for 
members of the Executive Board (performance bonus, deferral) in 
accordance with the remuneration system valid until 2019 (herein-
after “2019 remuneration system”). 
The LTI plans for the years starting from 2014 and the deferral of 
the performance bonus from the 2019 remuneration system are 
classified as cash-settled share-based payments; hence they are 
recognized at fair value in accordance with IFRS 2, Share-based 
Payment. The equity deferral of the performance bonus of the re-
muneration system applicable from 2020 is classified as an equity-
settled share-based payment; hence it is recognized at fair value in 
accordance with IFRS 2, Share-based Payment. 
Long-term incentive plans (LTI plans) 
Expenses of €6.4 million (PY: €33.5 million) from the addition of 
provisions for the TIP bonus, the 2020 LTI plan and the 2021 LTI 
plan were recognized in the respective function costs.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
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› 2014 to 2019 LTI plan: From 2014 to 2019, senior executives of 
the Continental Group and members of the Executive Board were 
granted an LTI bonus. This bonus was intended to allow for partic-
ipation in the long-term, sustainable increase in the Continental 
Group’s value and profitability. The LTI bonus depended on job 
grade and degree of target achievement and was issued in an-
nual tranches. 
› The term of the 2016/19 tranche, which was resolved on March 
18, 2016, by the Supervisory Board for the members of the Exec-
utive Board and on April 21, 2016, by the Executive Board for 
senior executives, begins retroactively as at January 1, 2016, and 
is four years. After the expiry of the 2016/19 LTI tranche in De-
cember 2019, the bonus was not paid out in 2020, as the fair 
value of the tranche as at the payment date was €0.0 million. 
› The term of the 2017/20 tranche, which was resolved on Janu-
ary 27, 2017, by the Supervisory Board for the members of the 
Executive Board and on June 2, 2017, by the Executive Board for 
senior executives, begins retroactively as at January 1, 2017, and 
is four years. After the expiry of the 2017/20 LTI tranche in De-
cember 2020, the bonus was not paid out in 2021, as the fair 
value of the tranche as at the payment date was €0.0 million. 
› The term of the 2018/21 tranche, which was resolved on March 
13, 2018, by the Supervisory Board for the members of the Exec-
utive Board and on May 28, 2018, by the Executive Board for 
senior executives, begins retroactively as at January 1, 2018, and 
is four years. 
› The term of the 2019/22 tranche, which was resolved on March 
14, 2019, by the Supervisory Board for the members of the Exec-
utive Board and on May 24, 2019, by the Executive Board for 
senior executives, begins retroactively as at January 1, 2019, and 
is four years. 
For each beneficiary of an LTI tranche, the Supervisory Board (for 
the members of the Executive Board) or the Executive Board (for 
senior executives) of Continental AG specified the amount of a tar-
get bonus in euros to be paid out upon 100% target achievement. 
The actual LTI bonus paid out on expiry of the LTI tranche depends 
on the degree of target achievement. The LTI bonus can range be-
tween 0% (no payment) and 200% (maximum payment). 
The degree of achievement of two target criteria is decisive for the 
payment and amount of the LTI bonus. The first target criterion is 
the equally weighted average of the Continental Value Contribution 
(CVC) of the Continental Group over a period of four fiscal years, 
starting from the fiscal year in which the LTI tranche is issued. The 
equally weighted average is calculated by adding together 25% of 
the CVC of the four fiscal years of the term of the LTI tranche. The 
second target criterion is the total shareholder return (TSR) on Con-
tinental shares as at the end of the term in relation to the beginning 
of the LTI tranche. The share price used in calculating the TSR is 
the arithmetic mean of closing prices in Xetra trading on the Frank-
furt Stock Exchange (or a successor system) on the trading days in 
the three months from October to December before the issue and 
expiry of the LTI tranche. In addition, all dividends paid during the 
term of the LTI tranche are taken into account for the TSR. 
The scale for determining the degree of target achievement is de-
fined by the Supervisory Board or the Executive Board when the re-
spective LTI tranche is issued. These key data are identical for the 
members of the Executive Board and senior executives. The degree 
of target achievement for the first target criterion can lie between 
0% and 200%. Target achievement is calculated on a straight-line 
basis between 0% and the maximum amount. There is no cap for 
the second target criterion. The ultimate degree of target achieve-
ment used to calculate the LTI bonus to be paid out is determined 
by multiplying the two target criteria. The LTI bonus to be paid out 
is determined by multiplying the degree of target achievement by 
the target bonus. The total maximum achievable LTI bonus is 200% 
of the target bonus. 
A Monte Carlo simulation is used in the measurement of the TSR 
target criterion. This means that log-normal distributed processes 
are simulated for the price of Continental shares. The Monte Carlo 
simulation takes into account the average value accumulation of 
share prices in the respective reference period, the TSR dividends 
and the restriction for the payment amount. 
› 2019 Transformation Incentive Plan (TIP): In 2019, the Conti-
nental Group offered its senior executives the possibility of partic-
ipating in the long-term, sustainable increase in the Continental 
Group’s value by paying a TIP bonus in addition to the fixed sal-
ary and the annual variable remuneration. The term of the TIP, 
which the Executive Board adopted for senior executives on Sep-
tember 2, 2019, extends from October 1, 2019, to December 31, 
2021. 
The Executive Board of Continental AG specifies the amount of 
the target bonus (TIP bonus) in euros for each beneficiary of a 
TIP bonus (senior executives). The TIP bonus is calculated based 
on a certain number of virtual shares of Continental AG (basic 
holding), which can increase through two bonus packages, multi-
plied by the payment share price. The payment share price is the 
arithmetic mean of Continental AG’s closing share prices in Xetra 
trading on the Frankfurt Stock Exchange (or a successor system) 
on the trading days in the last month prior to the Annual Share-
holders’ Meeting that follows the end of the term. The TIP bonus, 
which can total at most 200% of the initial share price, is paid to 
the respective beneficiary as a gross lump sum at the end of the 
second complete calendar month following the Annual Share-
holders’ Meeting that follows the end of the term. Since the basic 
holding can be increased through two bonus packages, the de-
gree of achievement of two target criteria is decisive for the 
amount of the TIP bonus. The target criterion of the first bonus 
package is the results of the OUR BASICS Live corporate survey 
in 2021. If at least 70% (equally weighted average) of all partici-
pants respond positively to the Sustainable Engagement Index, 
the beneficiary receives additional virtual shares equivalent to 
50% of the basic holding.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
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The target criterion of the second bonus package is met if, at the 
end of the term, the total shareholder return (TSR) on Continental 
shares equals or exceeds the performance of the STOXX Europe 
600 Automobiles & Parts Index. In this case, the beneficiary re-
ceives additional virtual shares equivalent to 50% of the basic 
holding. The TSR on Continental shares corresponds to the sum 
of the share price performance as at the end of the term and all 
dividends distributed during the term relative to the share price 
at the beginning of the term. The share price used in calculating 
the TSR is the arithmetic mean of the closing prices in Xetra trad-
ing on the Frankfurt Stock Exchange (or a successor system) on 
the trading days (i) in the first month of the term (“initial share 
price”) and (ii) in the last month of the term (“final share price”). 
A Monte Carlo simulation is used in the measurement of stock 
options. This means that log-normal distributed processes are 
simulated for the price of Continental shares and the price of the 
STOXX Europe 600 Automobiles & Parts Gross Return Index. The 
Monte Carlo simulation takes into account the average value ac-
cumulation of the Continental share prices for the final share 
price and the payment share price, the TSR dividends, the perfor-
mance compared with the benchmark index and the restriction 
for the payment amount. 
› 2020 and 2021 LTI plan: From 2020, a new LTI plan was granted 
to the Executive Board, senior executives and executives that 
aims to promote long-term commitment to the company and its 
sustainable growth. Therefore, the long-term TSR of Continental 
shares, compared with an index consisting of European compa-
nies that are active in the automotive and tire industry and com-
parable with Continental AG (STOXX Europe 600 Automobiles & 
Parts (SXAGR); hereinafter “benchmark index”), is a key perfor-
mance criterion for the LTI. The second performance criterion is a 
sustainability score that is multiplied by the degree of target 
achievement in order to calculate the LTI to be paid. The amount 
of the LTI to be paid is based on the performance of the Conti-
nental share price over the term of the LTI. 
› The term of the 2020 LTI plan, which was resolved on March 17, 
2020, by the Supervisory Board for the members of the Execu-
tive Board, and on March 2, 2020, by the Executive Board for sen-
ior executives and executives, begins retroactively as at Janu-
ary 1, 2020, and is four years for the Executive Board and three 
years for senior executives and executives. 
› The term of the 2021 LTI plan, which was resolved on December 
15, 2020, by the Supervisory Board for the members of the Exec-
utive Board, and on March 22, 2021, by the Executive Board for 
senior executives and executives, begins retroactively as at Janu-
ary 1, 2021, and is four years for the Executive Board and three 
years for senior executives and executives. 
› For each beneficiary of the 2020 and 2021 LTI plan, the Supervi-
sory Board (for the members of the Executive Board) or the Exec-
utive Board (for senior executives and executives) agrees an  
allotment value in euros for the LTI. At the start of the first fiscal 
year of the term of the LTI plan, this allotment value is converted 
into a basic holding of virtual shares. The allotment value is di-
vided by the arithmetic mean of Continental AG’s closing share 
prices in Xetra trading on the Frankfurt Stock Exchange (or a suc-
cessor system) in the last two months prior to the start of the 
term of the respective LTI plan (issue price). The basic holding is 
multiplied by a performance index (PI) in order to determine the 
final holding of virtual shares. The performance index corre-
sponds to the product from the relative total shareholder return 
(TSR) on Continental shares and a sustainability score. The rela-
tive TSR is calculated from the relative performance of the Conti-
nental TSR in comparison with the TSR on the STOXX Europe 
600 Automobiles & Parts (SXAGR). The Continental TSR corre-
sponds to the sum of the average Continental share price in the 
last month of the term (final share price) and all dividends distrib-
uted during the term relative to the average share price in the 
first month of the term (initial share price). The SXAGR TSR is de-
termined using the same method. 
› The Executive Board of Continental AG has resolved to adjust the 
share-based remuneration elements of senior executives and ex-
ecutives to compensate for the effects of the spin-off of Vitesco 
Technologies on the share price of Continental AG. The virtual 
shares of Continental AG granted as part of the LTI have been ad-
justed by a factor of 1.12. The same applies to the total share-
holder return (TSR) of Continental AG applied in the LTI. The ad-
justment factor has been applied to the final share price and to 
the dividends paid after the spin-off. 
Performance criteria and goals of the sustainability score are tar-
gets for CO2 emissions, recycling quotas and the review of good 
working conditions for employees in the Continental Group (e.g. 
based on sick leave, accident rates and employee satisfaction). 
The payment amount of the 2020 and 2021 LTI plan can total at 
most 200% of the defined initial share price (executives and sen-
ior executives) or issue price (Executive Board). The issue price is 
the average price of the two months before the start of the term. 
The final holding of virtual shares is multiplied by the payout ratio 
in order to determine the gross amount of the LTI to be paid out 
in euros (hereinafter “payout amount”). The payout ratio is the 
sum of the arithmetic mean of Continental AG’s closing share 
prices in Xetra trading on the Frankfurt Stock Exchange (or a suc-
cessor system) on the trading days in the last two months prior 
to the next ordinary Annual Shareholders’ Meeting that follows 
the end of the term of the LTI plan and the dividends paid out per 
share during the term of the LTI plan. 
A Monte Carlo simulation is used in the measurement of stock 
options. This means that log-normal distributed processes are 
simulated for the price of Continental shares and the price of the 
STOXX Europe 600 Automobiles & Parts (benchmark index). The 
Monte Carlo simulation takes into account the average value ac-
cumulation of the Continental share prices and the benchmark in-
dex for the final share price and the payment share price, the TSR 
dividends, the performance compared with the benchmark index 
and the restriction for the payment amount.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
74
 
 
The following TSR parameters were used as at the measurement 
date of December 31, 2021: 
› Constant zero rates as at the measurement date of December 31, 
2021: 
2018 LTI plan: -0.77% as at the expected payment date; 
2019 LTI plan: -0.76% as at the due date and -0.72% as at the ex-
pected payment date;  
2019 TIP bonus: -0.76% as at the end of payment share price pe-
riod and -0.77% as at the payment date;  
2020 LTI plan (senior executives and executives): -0.74% as at 
the due date and -0.73% as at the end of the payment share price 
period; 
2020 LTI plan (Executive Board): -0.68% as at the due date 
and -0.67% as at the end of the payment share price period; 
2021 LTI plan (senior executives and executives): -0.68% as at 
the due date and -0.67% as at the end of the payment share price 
period; 
2021 LTI plan (Executive Board): -0.61% as at the due date 
and -0.59% as at the end of the payment share price period. 
› Continental share price at year end of €93.11. 
› Interest rate based on the yield curve for government bonds. 
› Dividend payments as the arithmetic mean based on publicly 
available estimates for 2022 until 2024; the dividend of Conti-
nental AG amounted to €0.00 per share in 2021, and Continen-
tal AG distributed a dividend of €3.00 per share in 2020. 
› Historical volatilities on the basis of daily Xetra closing rates for 
Continental shares and the benchmark index based on the re-
spective remaining term for LTI tranches, the 2019 TIP bonus 
and the 2020 and 2021 LTI plan. The volatility for the 2019 LTI 
plan is 30.35% and for the 2019 TIP bonus 32.94% as at the pay-
ment date. For the 2020 LTI plan it is 32.11% for senior execu-
tives and executives and 41.56% for the Executive Board. The his-
torical benchmark index volatilities for the 2020 LTI plan are 
23.72% for senior executives and executives and 33.74% for the 
Executive Board. The volatility for the 2021 LTI plan is 41.56% for 
senior executives and executives and 38.79% for the Executive 
Board. The historical benchmark index volatilities for the 2020 
LTI plan are 33.74% for senior executives and executives and 
30.92% for the Executive Board. 
› Historical correlations on the basis of daily Xetra closing rates for 
the benchmark index based on the respective remaining term of 
the components of the 2019 TIP bonus and the 2020 and 2021 
LTI plan. The volatility for the 2020 LTI plan is 0.7761 for senior 
executives and executives and 0.8524 for the Executive Board. 
For the 2021 LTI plan it is 0.8524 for senior executives and exec-
utives and 0.8515 for the Executive Board. 
› The fair values of the tranches developed as follows: The amount 
of the provision as at the measurement date of December 31, 
2021, results from the respective vesting level: 
2018 LTI plan: €0.0 million (PY: €0.0 million), the vesting level  
is 100%; 
2019 LTI plan: €0.0 million (PY: €0.0 million), the vesting level  
is 75%; 
2019 TIP bonus: €14.2 million (PY: €24.2 million), the vesting 
level is 100%;  
2020 LTI plan (senior executives and executives): €26.9 million 
(PY: €62.8 million), the vesting level is 67%; 
2020 LTI plan (Executive Board): €1.0 million (PY: €5.7 million), 
the vesting level is 50%;  
2021 LTI plan (senior executives and executives): €27.9 million, 
the vesting level is 33%; 
2021 LTI plan (Executive Board): €1.3 million, the vesting level  
is 25%. 
In total, no expenses or income for the 2017 to 2019 LTI plans 
were recorded in the reporting year. Expenses of €0.8 million (PY: 
€11.1 million) were incurred for the 2019 TIP bonus in 2021. For 
the 2020 LTI plan, reduced liabilities for payroll and personnel-re-
lated costs resulted in income of €3.0 million for senior executives 
and executives (PY: expenses of €20.9 million), and €1.0 million for 
the Executive Board (PY: expenses of €1.4 million). Expenses of 
€9.3 million were incurred for the 2021 LTI plan for senior execu-
tives and executives, and €0.3 million for the 2021 LTI plan for the 
Executive Board. 
Performance bonus (deferral) under the 2019 remuneration 
system 
The performance bonus was based on a target amount that the Su-
pervisory Board determined for each Executive Board member for 
100% target achievement. Target criteria were the year-on-year 
change in the CVC and the return on capital employed (ROCE). For 
Executive Board members with responsibility for a particular busi-
ness area, these criteria related to the relevant business area; for 
other Executive Board members, they related to the Continental 
Group. The CVC target was 100% achieved if the CVC was un-
changed compared to the previous year. If the CVC fell or rose by a 
defined percentage, this element was reduced to zero or reached a 
maximum of 150%. In the case of negative CVC in the previous 
year, target achievement was based on the degree of improvement. 
The criteria for the ROCE target were guided by planning targets. 
This component could also be omitted if a certain minimum value 
was not achieved. 
The CVC target was weighted at 60% and the ROCE target at 40% 
in the calculation of the performance bonus. In any event, the per-
formance bonus was capped at 150% of the target bonus. 
The performance bonus achieved in a fiscal year was divided into a 
lump sum, which was paid out as an annual bonus (immediate pay-
ment), and a deferred payment (deferral). The immediate payment 
amounted to 60% and the deferral 40%. The deferral was con-
verted into virtual shares of Continental AG. Following a holding pe-
riod of three years after the end of the fiscal year for which the re-
spective performance bonus was determined, the value of these 
virtual shares was paid out together with the value of the dividends 
that were distributed for the fiscal years of the holding period. The 
conversion of the deferral into virtual shares and payment of their 
value after the holding period were based on the average share 
price for the three-month period immediately preceding the Annual 
Shareholders’ Meeting in the year of conversion or payment. The 
possible increase in the value of the deferral was capped at 250% 
of the initial value. Future payments of the value of deferrals will still

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
75
 
 
be made under the 2019 remuneration system, provided the 
three-year holding period for the virtual shares has expired. 
A Monte Carlo simulation is used in the measurement of stock op-
tions. This means that log-normal distributed processes are simu-
lated for the price of Continental shares. The measurement model 
also takes into account the average value accumulation of share 
prices in the respective reference period and the floor and cap for 
the payment amount. 
Income of €1.0 million (PY: €0.1 million) from the reversal of provi-
sions from virtual shares was recognized in the respective function 
costs. 
The following parameters were used as at the measurement date 
of December 31, 2021: 
› Constant zero rates as at the measurement date of December 31, 
2021: 
2018 tranche: -0.76% as at the due date and as at the expected 
payment date; 
2019 tranche: -0.74% as at the due date and as at the expected 
payment date. 
› Interest rate based on the yield curve for government bonds. 
› Dividend payments as the arithmetic mean based on publicly 
available estimates for 2022; the dividend of Continental AG 
amounted to €0.00 per share in 2021, and Continental AG dis-
tributed a dividend of €3.00 per share in 2020. 
› Historical volatilities on the basis of daily Xetra closing rates for 
Continental shares based on the respective remaining term for 
virtual shares. The volatility for the 2018 tranche is 32.94% and 
for the 2019 tranche 32.11%. 
As at December 31, 2021, commitments with a fair value of €0.9 
million are attributable to Executive Board members active at the 
end of the reporting period; this is equivalent to 9,393 virtual 
shares (PY: €4.9 million; 37,882 virtual shares). 
Performance bonus (deferral) under the remuneration system 
from 2020 
In the employment contract, the Supervisory Board agrees to a tar-
get amount for the performance bonus (hereinafter “STI target 
amount”) that is granted to each member of the Executive Board in 
the event of 100% target achievement. The maximum amount of 
the performance bonus is limited to 200% of the STI target 
amount. 
The amount of the STI to be paid out depends on the extent to 
which a member of the Executive Board achieves the targets set by 
the Supervisory Board for this Executive Board member for the fol-
lowing three key financial indicators as performance criteria within 
the meaning of Section 87a (1) Sentence 2 No. 4 AktG: 
› Earnings before interest and tax (hereinafter “EBIT”), adjusted for 
goodwill impairment as well as gains and/or losses from the dis-
posal of parts of the company. 
› Return on capital employed (hereinafter “ROCE”) as the ratio of 
EBIT (adjusted, as mentioned above) to average operating assets 
for the fiscal year. 
› Cash flow before financing activities (hereinafter “free cash flow”), 
adjusted for cash inflows and outflows from the disposal or acqui-
sition of companies and business operations. 
The degree to which the EBIT target is achieved is weighted at 
40%, the ROCE target at 30% and the free cash flow target at 30% 
in the calculation of the STI. 
For each financial performance criterion, the target value for 100% 
target achievement corresponds to the value that the Supervisory 
Board agreed in each case for this financial performance criterion 
in the planning for the respective fiscal year. 
For each financial performance criterion, the Supervisory Board de-
termines the values for target achievement of 0% and 200% on an 
annual basis. The degree to which the target is achieved is calcu-
lated on a straight-line basis between 0% and 200% by comparing 
this with the respective actual value for the fiscal year. 
In addition, prior to the start of each fiscal year, the Supervisory 
Board can determine personal, non-financial performance criteria 
to be included in target achievement in the form of a personal con-
tribution factor (hereinafter “PCF”) with a value between 0.8 and 1.2 
for individual or all members of the Executive Board. 
After the end of the fiscal year, the target achievement for each  
financial performance criterion is calculated on the basis of the  
audited consolidated financial statements of Continental AG, and 
the sum total of these financial performance criteria is multiplied by  
the STI target amount in accordance with the weighting described 
above. By multiplying this result by the PCF, the gross value of the 
STI amount to be paid (hereinafter “gross payout amount”) is deter-
mined. 
Each member of the Executive Board is obligated to invest 20% of 
the gross payout amount (generally corresponding to around 40% 
of the net payment amount) in shares of Continental AG. The re-
mainder is paid out as short-term variable remuneration. 
Each member of the Executive Board is obligated to hold the 
shares legally and economically for a period of at least three years 
from the day of acquisition. 
Expenses of €14.1 million (PY: €1.3 million) were incurred for the 
2021 STI in 2021. 
The number of shares converted by the Executive Board from the 
deferral of the 2020 STI came to 2,126 in 2021.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
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Short-term employee benefits 
Liabilities for payroll and personnel-related costs 
The Continental value sharing bonus is a program that allows Con-
tinental employees to share in net income.  
The amount of profits shared is calculated on the basis of key inter-
nal figures. As in the previous year, no provision was recognized for 
the reporting period. 
 
 
Labor Relations 
In keeping with our corporate value of “For One Another”, it is of 
great importance to Continental to maintain an open and construc-
tive dialog between management and employees. The forms of di-
rect and indirect employee co-determination vary from country to 
country, and from location to location. In our Code of Conduct, 
which we updated at the start of 2019, we grant our employees 
fundamental rights of co-determination. Co-determination in the 
workplace is governed by law in Germany and Europe. In Germany, 
the workforce is represented at Group level by the Group Works 
Council. At the European level, employee co-determination is up-
held by a transnational body of employee representatives called 
the EuroForum. As provided for in the German Co-Determination 
Act (Mitbestimmungsgesetz – MitbestG), employees also account 
for half the members of the Supervisory Board of Continental AG. 
Collective bargaining agreements are an essential component of 
the collaboration between social partners. These agreements range 
from location-specific agreements on specific workplace design 
and flexibility right through to company-level association agree-
ments on collective pay and industry-level pay-scale agreements 
for the whole of Germany, for example. Collective bargaining agree-
ments of various types and scopes based on country-specific legal 
requirements are a reflection of the tangible employee co-determi-
nation that exists in the vast majority of countries. 
Equal Pay 
Each position at Continental is objectively evaluated according to 
criteria such as tasks, management responsibility and responsibility 
for sales and earnings. Staff employed on the basis of a collective 
bargaining agreement are remunerated according to their position 
evaluations. Non-tariff employees are remunerated according to 
their position evaluations as well as their individual experience and 
performance. For exempt non-tariff employees, therefore, a distinc-
tion is made between a basic salary and performance-related remu-
neration components.  
Fluctuation 
The rate of unforced fluctuation increased to 7.0% in fiscal 2021 
(PY: 4.6% including Vitesco Technologies). The rate of unforced fluc-
tuation is defined as the voluntary departure of employees from 
the company in relation to the average number of employees.  
In Germany, the rate of unforced fluctuation was at 3.0 (PY: 2.1% in-
cluding Vitesco Technologies); in Europe excluding Germany this 
figure was at 6.9% (PY: 4.6% including Vitesco Technologies), in 
North America at 10.5% (PY: 6.8% including Vitesco Technologies), 
in Asia at 9.5% (PY: 5.5% including Vitesco Technologies), and in all 
other countries at 4.7% (PY: 4.5% including Vitesco Technologies). 
The increase therefore affects all regions. These fluctuation rates 
should be interpreted based on factors specific to each country. 
 
Level of Employment  
In 2021, a total of 2.9% of employees worked part-time (PY: 3.1% 
including Vitesco Technologies). Part-time is defined as < 90% of 
full-time working hours.  
 
Overall, 7.0% (PY: 6.5% including Vitesco Technologies) of women 
and 1.7% (PY: 1.8% including Vitesco Technologies) of men worked 
part-time. 
 
 
Unforced fluctuation rate by regions 2021 in %1, 2
1 Definition: voluntary departure of employees from the company relative to the  
average number of employees.
2 Excluding leasing personnel (i.e. permanent staff only).
3.0
6.9
10.5
9.5
4.7
Germany
Europe
excl. Germany
North America
Asia
Other
countries
97.1
2.9
Employees by level of employment as at 31.12.2021 in %1, 2
Full-time
Part-time
1 Part-time is defined as < 90% of full-time working hours.
2 Based on the employees recorded in the HR data system (approx. 98%).

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Good Working Conditions 
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We are continually increasing our efforts to make working hours 
more flexible, including in the production environment. Employees 
can organize their working hours more flexibly, for example by 
working part-time or flex time, or by taking advantage of remote 
working or sabbaticals. The range of opportunities is determined 
by the specific operational possibilities of the respective workplace.  
Type of employment contracts  
Fixed-term contracts had a share of 12.3% in fiscal 2021 (PY: 
14.0% including Vitesco Technologies). The fixed-term contracts in-
clude the contracts of leasing personnel. We employed a total of 
8,565 leasing personnel as at December 31, 2021 (PY: 13,352). 
This is 35.9% less than in the previous year.  
 
In Germany, fixed-term contracts accounted for a share of 7.1% of 
all contracts of employment (PY: 6.5% including Vitesco Technolo-
gies); in Europe excluding Germany this was 10.1% (PY: 12.8% in-
cluding Vitesco Technologies), in North America 3.3% (PY: 5.7% in-
cluding Vitesco Technologies), in Asia 31.4% (PY: 35.0% including 
Vitesco Technologies), and in other countries 8.5% (PY: 4.4% includ-
ing Vitesco Technologies). Overall, 12.4% (PY: 13.5%) of women and 
10.0% (PY: 10.4%) of men were on a fixed-term contract.  
The change in the shares of fixed-term contracts is in line with the 
change in the country-specific numbers of leasing personnel.  
Fixed-term contracts including leasing personnel are important 
tools for Continental to be able to react flexibly and quickly to the 
requirements of the ever more rapidly changing markets. The use 
of leasing employment plays a key role in improving competitive-
ness and thus contributes to safeguarding jobs at our locations. We 
view leasing employment as an option for increasing flexibility, to 
cover peaks in demand for example. It thus enables us to adapt to 
large-scale fluctuations in order volumes on a case-by-case basis.  
Strategic Workforce Planning  
At Continental, strategic workforce planning (SWP) is used to com-
pare the long-term development of the current workforce with fu-
ture personnel requirements to identify quantitative and qualitative 
gaps as well as overlaps in requirements, and to enable appropriate 
HR measures to be taken on this basis. How does SWP actually 
work? First, an analysis of the current workforce is carried out as 
part of SWP. A forecast of the workforce over the next few years is 
then drawn up on the basis of fluctuation and employees entering 
retirement. The next step is to calculate future personnel require-
ments. This is done on the basis of so-called drivers, such as pre-
dicted developments in sales and/or production volume. SWP is 
used to align the company’s HR measures more closely with actual 
business requirements. When doing this, it is important to bring to-
gether the various parties involved in the business and the corre-
sponding group functions, including HR functions, and to discuss 
the effects on future business development together. This gives HR 
staff a better understanding of the strategic alignment of the busi-
ness units while allowing them to contribute their own knowledge, 
for example regarding the availability of talent in the business strat-
egy development process. In this respect, the HR staff also act as a 
sparring partner for business strategy development. 
 
 
 
87.7
12.3
Employees by contract types as at 31.12.2021 in %1
Permanent 
Fixed-term
1 Based on the employees recorded in the HR data system (approx. 98%).

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Benchmark in Quality 
78
 
 
Management Approach 
Source: 2021 Annual Report > Management Report > Corporate Profile >  
Sustainability and Combined Non-Financial Statement (
 starting p. 36) 
 
Note: This section relates to continuing and discontinued operations, with the 
exception of performance indicators for the financial year 2021. 
 
Our ambition 
As set out in our sustainability ambition, we are recognized by our 
customers and society as being a benchmark in quality by ensur-
ing safe and sustainable products. 
Concept 
The decisive factor in becoming a benchmark in quality is a quality-
oriented company culture. Our quality policy sets out guidelines for 
product and process quality at Continental. Product recalls, product 
liability claims and proceedings as a result of quality defects repre-
sent a business risk that we want to avoid due to the resulting 
losses of sales, costs, and loss of customer and market acceptance. 
The report on risks and opportunities containing more information 
about this can be found starting on page 85 of this annual report. 
Local management systems drive forward the implementation of 
these guidelines. The concrete organizational and technical require-
ments can be found in the relevant quality management manuals 
for the group sectors. Many locations have additionally undergone 
external certification audits. The extent of these certifications is as-
sessed on an annual basis as to how many employees they cover 
with respect to quality management systems. The number of new 
field quality events is used as an effectiveness indicator for our qual-
ity management. A field quality event is a risk-minimizing measure 
for a product manufactured and/or sold by Continental on the basis 
of a safety-related defect and/or non-compliance with regulations 
that was initiated by Continental, a customer and/or an authority. 
The Group Quality group function as well as the quality functions  
at various levels in the Continental Group, which work together in  
a global network, are responsible for the strategic, corporate-wide 
quality management process. 
Results of the concept 
As at December 31, 2021, the majority of our employees through-
out the Continental Group, namely 84%, were covered by certified 
quality management systems (PY: 91% including Vitesco Technolo-
gies). The year-on-year decline in the quota is attributable in partic-
ular to the spin-off of Vitesco Technologies. 
Thirty-six new field quality events were identified (PY: 18 including 
Vitesco Technologies). The rise in events is attributable to increased 
regulatory requirements. 
Information about the scope of warranty and product liability claims 
in fiscal 2021 can be found in Note 38 of the other disclosures in 
the notes to the consolidated financial statements, on pages 204 
and 205.  
Benchmark in quality performance indicators 
2021 
2020 
Quality management system certification  
(ISO 9001 or similar)1 
Employee coverage (as at December 31) in % 
84 
91 
New field quality events (as at December 31)2 
36 
18 
 
 
 
1 Valid certification and concluded recertification processes were counted, as well as 
ongoing recertification processes, if the achievement of recertification was 
considered highly probable. 
2 Definition: a field quality event is a risk-minimizing measure for a product 
manufactured and/or sold by Continental based on a safety-related defect and/or 
non-compliance with regulations that was initiated by Continental, a customer and/or 
an authority. 
 
 
 
 
“Living Ownership”: Everyone is Responsible for Quality 
Every day, millions of people around the world put their trust 
in the quality of Continental’s products. The “Living Ownership” 
initiative is intended to raise awareness of this fact. It creates 
an environment in which employees can take on responsibility. 
Through exemplary behavior and a willingness to take on re-
sponsibility, every employee proactively shapes the future of 
the company. In day-to-day work, this means openly address-
ing areas that can be improved, sharing their experience, and 
learning from others. The group functions Group Quality and 
Group Human Relations jointly launched the “Living Owner-
ship” initiative in 2018. Workshops and events are being held 
under the slogan “Everyone is responsible for quality!” to in-
crease awareness and understanding of this common objec-
tive. Dialog formats that promote open communication are 
taught. They are delivered by the “Ownership Champions” – 
trained employees who act as multipliers of the topic within 
the company. By the end of 2021, there were already more 
than 900 “Ownership Champions” active at Continental (PY: 
700). All told, they have already trained more than 24,000 em-
ployees worldwide (PY: 12,000). 
 
 
Benchmark in Quality 
In the Spotlight

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Benchmark in Quality 
79
 
 
Quality Strategy 
“Quality First” has been an integral part of Continental’s corporate 
strategy since 2010. Building on this, a separate, dedicated quality 
strategy was adopted in 2017. Our aspiration is to be perceived by 
our customers as a benchmark for quality. Robust products, soft-
ware and services form the basis for this. Our quality strategy aims 
to build up a quality-oriented corporate culture and enable continu-
ous improvement. Feedback from our customers is the yardstick 
for measuring the success of this strategy.  
The quality strategy is divided into five strategic topics. Continental 
is pursuing its establishment within a clearly-defined chain of ef-
fects. 
1. Ownership  
Taking ownership by each individual employee is the starting point 
for a quality-oriented corporate culture in which continuous im-
provement is practiced. 
2. Transparency 
Complete, accurate data that is available to every employee forms 
the basis for continuous improvement and progress measurement. 
This enables smart decisions and intelligent risk management. 
3. Execution discipline 
An internal set of rules, known as the House of Rules, describes the 
guidelines, processes and standards along the entire value chain, 
thereby creating a basis for action for every employee and, as a re-
sult, the consistent and disciplined implementation of quality. 
4. Yokoten 
Every employee is required to share experience and knowledge 
and apply best practice. In doing so, Continental is consistently fol-
lowing the Japanese philosophy of “Yokoten” – of learning and shar-
ing knowledge, and shared continuous improvement in the organi-
zation.  
5. Robustness 
With all of this, Continental ensures the robustness of products, 
software and services for its customers. This will help to ensure that 
the company is perceived by its customers to be a benchmark for 
quality.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Safe Mobility 
80
 
 
Management Approach  
Vehicle safety is an important aspect of developing new mobility 
solutions. This is because the risk of accidents increases the higher 
the traffic volumes around the world grow, and this figure contin-
ues to rise. Continental’s Automotive group sector develops solu-
tions for active and passive vehicle safety that contribute to a en-
hancing safety in mobility, and can thereby prevent road casualties 
and material damage.  
While active systems warn drivers of hazards in road traffic and in-
tervene, passive systems offer optimum protection in the event of 
an accident. For example, electronic advanced driver assistance 
and brake systems have a preventive effect and, in an emergency, 
play a supporting role in steering as well as brake and vehicle dy-
namics so that – in vehicle with modern tires – potential accident 
risks are minimized. Together with airbags, seatbelts (restraint sys-
tems), and pedestrian protections, these systems increase safety 
throughout the vehicle. 
Advanced driver assistance systems in today’s vehicles form the 
basis for future automated driving functions. For example, today’s 
lane departure warning system with intelligent interconnectivity to 
other vehicle systems will become a partially automated freeway 
assistant that also maintains desired vehicle speeds. Advanced 
driver assistance systems safeguard all higher-level vehicle func-
tions, and will thereby ensure safe driving in the highly and fully au-
tomated driving functions of the future, too.
 
 
 
 
ProViu®360 advanced driver assistance system 
Unfortunately, human error while driving cannot always be 
ruled out. Many road accidents are caused by drivers not hav-
ing a clear view of their surroundings.  
The modern ProViu®360 advanced driver assistance system 
was developed with this fact in mind. Using tried-and-tested 
technologies, multiple images – usually four – are combined to 
form an overall image. This gives the driver a 360° view of the 
vehicle’s surroundings.  
ProViu®360 is even able to use other views to display objects 
that are outside the field of vision and not immediately appar-
ent in a vehicle’s rear-view mirrors. The system thus simplifies 
maneuvering in traffic while reducing the risk of accidents.  
Ultimately, ProViu®360 even increases vehicle operating effi-
ciency, since the system reduces loading and unloading times 
as well as idling and downtimes.  
In addition, vehicle operation is greatly simplified in critical sit-
uations. The content on the screen can be configured individ-
ually and without delay using touch gestures, and offers vari-
ous display options for a 3D model of the vehicle. ProViu®360 
can therefore be used for commercial or industrial purposes 
as well as in recreational vehicles and special vehicles.
 
 
Safe Mobility 
In the Spotlight

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
81
 
 
Management Approach
Source: 2021 Annual Report > Management Report > Corporate Profile >  
Sustainability and Combined Non-Financial Statement (
 starting p. 36) 
 
Note: This section relates to continuing and discontinued operations, with the 
exception of performance indicators for the financial year 2021. 
 
Our ambition 
As set out in our sustainability ambition, we implement effective 
management processes, fair business practices and responsible cor-
porate governance with a balanced view of different perspectives. 
Concept 
To prevent corruption and antitrust violations in particular, the  
Executive Board has established the global compliance organiza-
tion together with the Compliance group function and regional 
subfunctions. This structure is supplemented by compliance coor-
dinators in the countries and at the locations. The fundamental 
principles of compliance management are set out in the corporate-
wide compliance handbook. Continental has a compliance man-
agement system, which is based on a comprehensive analysis of 
potential compliance risks, in particular for the core areas of anti-
trust law and corruption prevention. We set up a new ombuds-
man’s office in fiscal 2021. 
As a further cornerstone for sustainable management practice, we 
are committed to promoting employee diversity, which we under-
stand as internationality, a balanced gender ratio, and a range of ex-
periences and age categories. We have set ourselves the corporate-
wide target of increasing the share of female executives and senior 
executives to 25% by 2025. We intend to achieve this in particular 
by promoting cultural change in the organization through the ex-
pansion of women’s networks and the holding of diversity work-
shops and specific events.  
Gender diversity – the share of female executives and senior execu-
tives – has also been part of the LTI plans for the members of the 
Executive Board and global managers since fiscal 2020. For more 
information, see the remuneration report on our website  under 
Company/Executive Board. 
For more information on sustainable management practice and our 
diversity concept, see the Corporate Governance section starting on 
page 15 of this annual report. For more information on compliance, 
see the Compliance section on page 22 of this annual report, as well 
as the report on risks and opportunities starting on page 85. 
Results of the concept 
In 2016, the design, implementation and effectiveness of Continen-
tal’s compliance management system for the areas of anti-corrup-
tion, competition/antitrust law, fraud and other property offenses 
were audited in accordance with Audit Standard 980 of the Institut 
der Wirtschaftsprüfer e.V. (IDW) and were issued an unqualified  
review opinion. 
As at December 31, 2021, Continental had increased its share of 
female executives and senior executives to 17.8% (PY: 16.1% in-
cluding Vitesco Technologies). A significant share of this was at-
tributable to the spin-off of Vitesco Technologies. Our initiatives and 
measures to promote gender diversity are also proving effective. 
Sustainable management practice  
performance indicator 
2021 
2020 
Gender diversity – share of female executives and 
senior executives (as at December 31) in % 
17.8 
16.1 
 
 
 
 
 
 
 
 
Remuneration 
With the global introduction of the new remuneration system 
in fiscal 2020, remuneration for the Executive Board and man-
agement personnel was increasingly geared towards long-
term and sustainable development of the company in order to 
ensure the long-term viability of the company.  
This move also serves to comply with the German Corporate 
Governance Code (DCGK) and the Law on the Implementation 
of the 2nd EU Shareholder Rights Directive (ARUG II), accord-
ing to which the remuneration structure is to be geared to-
ward sustainable and long-term development. For example, 
sustainability indicators that support Continental’s sustainabil-
ity strategy were included in the Long-Term Incentive Plan 
(LTI). With a focus on the key strategic topics, the Supervisory 
Board or the Executive Board defines medium- to long-term 
performance criteria and targets for a sustainability factor for 
the respective long-term plan. The plan launched in fiscal 
2021 included targets for CO2 emissions, the waste recycling 
rate, sustainable engagement, gender diversity, and accident 
rate.  
Further information on this can be found in the Remuneration 
Report which can be found starting page 95 in this integrated 
sustainability report. 
 
Sustainable Management Practice  
In the Spotlight

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
82
 
Corporate Governance Statement  
Pursuant to Section 289f of the  
German Commercial Code (HGB) 
Source: 2021 Annual Report > To our Shareholders > Corporate Governance > 
Corporate Governance Statement Pursuant to Section 289f of the  
German Commercial Code (HGB) (
 starting p. 15) 
 
Good, responsible corporate governance geared toward sustaina-
ble, long-term value creation and in the interests of all stakeholder 
groups is what governs the actions of the Executive Board and  
Supervisory Board of Continental AG. The following corporate gov-
ernance statement pursuant to Section 289f of the German Com-
mercial Code (Handelsgesetzbuch – HGB) is representative of cor-
porate governance at Continental and is a part of the management 
report. The remuneration report for fiscal 2021 on the remunera-
tion of the Executive Board and the Supervisory Board together 
with the auditor’s report and the valid remuneration system for the 
remuneration of the Executive Board are available on Continental’s 
website  under Company/Executive Board. The valid remunera-
tion system for remuneration of the Supervisory Board is available 
together with the latest remuneration resolution by the Annual 
Shareholders’ Meeting on Continental’s website  under Com-
pany/Supervisory Board. 
Declaration pursuant to Section 161 of the German Stock 
Corporation Act (Aktiengesetz – AktG) and deviations from the 
German Corporate Governance Code 
In October 2021, the Executive Board and the Supervisory Board 
issued the following annual declaration pursuant to Section 161 
AktG: 
“The Executive Board and the Supervisory Board of Continental AG 
declare in accordance with Section 161 German Stock Corpora-
tions Act (AktG) that the recommendations of the ‘Government 
Commission on the German Corporate Governance Code’ in the 
version dated December 16, 2019 (published by the Federal Minis-
try of Justice in the official section of the electronic Federal Gazette 
(Bundesanzeiger) on March 20, 2020; hereinafter “Code”), are be-
ing complied with, with the exceptions set out below. 
Reference is made to the declaration of the Executive Board and 
the Supervisory Board of December 2020 as well as to previous 
declarations in accordance with Section 161 AktG and the devia-
tions from the recommendations of the German Corporate Govern-
ance Code explained therein. 
› According to recommendation C.2 of the Code, the Supervisory 
Board shall set an age limit for members of the Supervisory 
Board. The Supervisory Board does not set an age limit because 
it does not consider such a general criterion to be appropriate for 
evaluating the qualifications of a Supervisory Board member. 
› According to recommendation C.4 of the Code, a Supervisory 
Board member who is not a member of any management board 
of a listed company shall not accept more than five Supervisory 
Board directorships at non-group listed companies or comparable 
functions, with an appointment as Chair of the Supervisory Board 
being counted twice. In connection with the spin-off of Vitesco 
Technologies Group Aktiengesellschaft on September 15, 2021, 
among others, Prof. KR Siegfried Wolf, member of the Supervisory 
Board of Continental AG, has been elected to the Supervisory 
Board of Vitesco Technologies Group Aktiengesellschaft, which 
has been listed on the stock exchange on September 16, 2021. 
Prof. Wolf was elected chairman of the Supervisory Board of 
Vitesco Technologies Group Aktiengesellschaft on October 4, 
2021. As a result, Prof. Wolf exceeds the maximum number of  
supervisory board directorships recommended by recommenda-
tion C.4 of the Code. 
› According to recommendation C.5 of the Code, members of any 
management board of a listed company shall not be on more 
than two supervisory boards in non-group listed companies or 
comparable functions, and shall not accept the chairmanship of a 
Supervisory Board in a non-group listed company. In connection 
with the spin-off of Vitesco Technologies Group Aktiengesellschaft 
on September 15, 2021, among others, Mr. Klaus Rosenfeld, mem-
ber of the Supervisory Board of Continental AG and chief execu-
tive officer of Schaeffler AG, has also been elected to the Super-
visory Board of Vitesco Technologies Group Aktiengesellschaft. 
As Mr. Rosenfeld is also on the supervisory board of another 
listed company, he exceeds the number of supervisory board di-
rectorships recommended in recommendation C.5 of the Code. 
› Mr. Rosenfeld has already announced that he will step down from 
the supervisory of this other company. It is expected to take effect 
at the end of February 2022. Prof. Wolf has announced that he 
will resign from one of his Supervisory Board directorships in 
2022. Due to the only temporary exceeding of the recommended 
maximum number of directorships, the Supervisory Board does 
not consider its appropriate composition affected. 
Hanover, October 2021 
Prof. Dr. Wolfgang Reitzle 
Chairman of the Supervisory Board 
Nikolai Setzer 
Chairman of the Executive Board” 
The declaration of compliance is published in the Company/Corpo-
rate Governance section of Continental’s website . Earlier declara-
tions pursuant to Section 161 AktG can also be found there. Out-of-
date corporate governance statements can also be found there for 
a period of at least five years from the date they were issued. 
As at the date of this corporate governance statement, the indi-
cated deviations from recommendations C.4 and C.5 of the Ger-
man Corporate Governance Code no longer exist. As outlined in 
the report of the Supervisory Board under “Personnel changes in 
the Supervisory Board and Executive Board” (pages 13 and 14), 
Prof. KR Ing. Siegfried Wolf stepped down from the Supervisory 
Board of Continental AG with effect from December 31, 2021. With 
effect from January 1, 2022, the Hanover Local Court appointed 
Mr. Stefan E. Buchner as a member of the company’s Supervisory 
Board at the request of the Executive Board of Continental AG. Mr. 
Klaus Rosenfeld’s resignation, which was commented on in the dec-
laration of compliance of October 2021, has also taken effect in the 
meantime. Continental AG thus now fulfills recommendations C.4

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
83
 
and C.5. The Executive Board and the Supervisory Board will issue 
and publish an updated declaration of compliance in due course. 
Key corporate governance practices 
The following documents are key foundations of our sustainable 
and responsible corporate governance: 
› OUR BASICS – Continental AG’s corporate guidelines. The vision, 
mission and values, desired behavior and self-image of the Conti-
nental Group; available on Continental’s website  under Com-
pany/Sustainability. 
› Sustainability ambition; available on Continental’s website  un-
der Company/Sustainability. 
› Compliance with the binding Code of Conduct for all Continental 
employees. For more information, see the Compliance section on 
page 22 and Continental’s website  under Sustainability. 
Corporate bodies 
In line with the law and the Articles of Incorporation, the company’s 
corporate bodies are the Executive Board, the Supervisory Board 
and the Shareholders’ Meeting. As a German stock corporation, 
Continental AG has a dual management system characterized by a 
strict personnel division between the Executive Board as the man-
agement body and the Supervisory Board as the monitoring body. 
The cooperation between the Executive Board, Supervisory Board 
and Shareholders’ Meeting is depicted on the next page. 
The Executive Board and its practices 
The Executive Board has sole responsibility for managing the com-
pany in the interests of the company, free from instructions from 
third parties in accordance with the law, the Articles of Incorpora-
tion and the Executive Board’s By-Laws, while taking into account 
the resolutions of the Shareholders’ Meeting. All members of the 
Executive Board share responsibility for the management of the 
company jointly. Regardless of this principle of joint responsibility, 
each Executive Board member is individually responsible for the ar-
eas entrusted to them. The chairman of the Executive Board is re-
sponsible for the company’s overall management and business pol-
icy. He ensures management coordination and uniformity on the 
Executive Board and represents the company to the public. The  
Executive Board jointly develops the company’s strategy, agrees it 
with the Supervisory Board and ensures its implementation. 
The Executive Board had seven members as at December 31, 
2021, and five members as at the date of this declaration (for de-
tails, see the report of the Supervisory Board under “Personnel 
changes in the Supervisory Board and Executive Board” (pages 13 
and 14). The first time a person is appointed to the Executive Board, 
his or her term as a rule is three years only. As a rule, a member of 
the Executive Board is not appointed beyond the statutory retire-
ment age. 
Only under exceptional circumstances will a member of the Execu-
tive Board be reappointed earlier than one year prior to the end of 
their term of appointment with simultaneous annulment of their 
current appointment. More information on the members of the  
Executive Board can be found on pages 215 and 216 and on  
Continental’s website  under Company/Corporate Governance.

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The Executive Board has By-Laws that regulate in particular the  
allocation of duties among the Executive Board members, key mat-
ters pertaining to the company and its subsidiaries that require a 
decision to be made by the Executive Board, the duties of the Exec-
utive Board chairman, and the process in which the Executive Board 
passes resolutions. The Executive Board By-Laws are available on 
Continental’s website  under Company/Corporate Governance. 
The Supervisory Board By-Laws on the basis of the Articles of In-
corporation require the consent of the Supervisory Board for signif-
icant actions taken by management. 
The Executive Board has established a separate board for the Auto-
motive group sector and has resolved to set up separate boards for 
the Tires and ContiTech group sectors in the near future. This meas-
ure supports the decentralization of responsibility that the global 
reorganization of the company seeks to achieve, and relieves the 
burden on the Continental Group Executive Board. In addition to 
establishing these boards, the Executive Board has delegated or 
will delegate to them decision-making powers for certain matters – 
particularly those relating to operational decisions – that affect only 
the relevant group sectors. 
The boards for the three group sectors each comprise the Execu-
tive Board member responsible for the group sector in question as 
their chairman, the heads of the relevant business areas within the 
group sector, as well as further members from among the central 
functions of the relevant group sectors. 
In preparation for the spin-off of Vitesco Technologies that was car-
ried out on September 15, 2021, with subsequent listing on Sep-
tember 16, 2021, Vitesco Technologies was granted greater organ-
izational independence as of January 1, 2021, with the aim of pro-
moting its flexibility and agility. As part of this move, the Executive 
Board transferred decision-making authorities, effective January 1, 
2021, to the Management Board of Vitesco Technologies GmbH 
for certain matters relating exclusively to the business of Vitesco 
Technologies. 
The Supervisory Board and its practices 
The Supervisory Board appoints the members of the Executive 
Board and collaborates with the Executive Board to develop a long-
term succession plan. The Supervisory Board discusses this at least 
once a year without the Executive Board. In order to become ac-
quainted with potential successors, the Supervisory Board, in con-
sultation with the Executive Board, offers them the opportunity to 
deliver presentations to the Supervisory Board. 
The Supervisory Board supervises and advises the Executive Board 
in managing the company. The Supervisory Board is directly in-
volved in decisions of material importance to the company. As 
specified by law, the Articles of Incorporation or the Supervisory 
Board By-Laws, certain corporate management matters require the 
approval of the Supervisory Board. The chairman of the Supervi-
sory Board coordinates its work and represents it vis-à-vis third par-
ties. Within reasonable limits, he is prepared to talk to investors 
about issues specific to the Supervisory Board. He maintains regu- 
lar contact between meetings with the Executive Board, and in par-
ticular with its chairman, to discuss issues relating in particular to 
the company’s strategy, business development, risk management 
and compliance. 
Composition of the Supervisory Board 
The Supervisory Board comprises 20 members in accordance with 
the German Co-determination Act (Mitbestimmungsgesetz – Mit-
bestG) and the company’s Articles of Incorporation. Half the mem-
bers of the Supervisory Board are elected individually by the share-
holders in the Shareholders’ Meeting (shareholder representatives), 
while the other half are elected by the employees of Continen-
tal AG and its German subsidiaries (employee representatives). 
Both the shareholder representatives and the employee represent-
atives have an equal duty to act in the interests of the company. The 
Super-visory Board’s chairman must be a shareholder representa-
tive. He has the casting vote in the event of a tie. 
The current Supervisory Board was constituted on April 26, 2019. 
The term of office of the Supervisory Board members lasts until the 
end of the 2024 Annual Shareholders’ Meeting. The chairman of 
the Supervisory Board is Prof. Dr.-Ing. Wolfgang Reitzle who, in ac-
cordance with the German Corporate Governance Code, is inde-
pendent of the company and its Executive Board. The Supervisory 
Board does not include any members who previously belonged to 
the Executive Board of Continental AG, who exercise an executive 
function or advisory role at a major competitor of Continental, or 
who have a personal relationship with such a competitor. 
The company has set up an informational program that provides 
newly elected members of the Supervisory Board with a thorough 
overview of the company’s products and technologies as well as  
finances, controlling and corporate governance at Continental. 
The Supervisory Board has drawn up its own By-Laws that supple-
ment the law and the Articles of Incorporation with more detailed 
provisions, including provisions on Supervisory Board meetings, 
the duty of confidentiality, the handling of conflicts of interest and 
the Executive Board’s reporting obligations, and a list of transac-
tions and measures that require the approval of the Supervisory 
Board. The Supervisory Board By-Laws are available on Continen-
tal’s website  under Company/Corporate Governance. The Super-
visory Board also consults on a regular basis in the absence of the 
Executive Board. Before each regular meeting of the Supervisory 
Board, the representatives of the shareholders and of the employ-
ees each meet separately with members of the Executive Board to 
discuss the upcoming meeting. 
The Supervisory Board regularly reviews how effectively it and its 
committees have fulfilled their responsibilities. It carried out such a 
review in 2021 with the help of an external consultant. This con-
firmed the Supervisory Board’s efficient and professional approach 
to its work in the past years. The Supervisory Board has adopted 
the recommendations that resulted from the 2021 self-assessment.

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Profile of skills and expertise for the Supervisory Board 
In accordance with recommendation C.1 of the German Corporate 
Governance Code, the Supervisory Board has prepared a profile of 
skills and expertise and specified targets for its composition. 
The Supervisory Board as a whole should possess the skills and  
expertise described in more detail below. It is not expected that all 
Supervisory Board members possess all skills and expertise. Instead, 
each area of expertise must be covered by at least one Supervisory 
Board member. The Supervisory Board assumes that all Supervisory 
Board members possess the knowledge and skills required for the 
proper performance of their duties and the characteristics neces-
sary for successful Supervisory Board work. In particular, these in-
clude integrity, commitment, capacity for discussion and teamwork, 
sufficient availability and discretion.  
› Internationality: Due to Continental AG’s global activities, its Su-
pervisory Board requires international professional or business 
experience. This means professional training or work abroad or 
with a strong connection to foreign markets. International profes-
sional and business experience with regard to Asian markets is 
also desirable. 
› Industry experience: The Supervisory Board should have pro-
fessional experience in the automotive industry or other indus-
tries in which the company operates. In particular, the Supervisory 
Board wants to increase its expertise in the new business areas 
that are important parts of the company’s strategy. Therefore, 
professional knowledge or experience of digitalization, information 
technology, telecommunications, mobility services, electric mobil-
ity, or related areas should be available. 
› Management experience: The Supervisory Board should in-
clude members with management experience. In particular, this 
includes experience in corporate management or as a senior 
manager of a business, or experience in a managerial role at 
other large organizations or associations. 
› Financial experience: The Supervisory Board should possess  
financial knowledge and experience, namely in the areas of ac-
counting, control and risk management systems, and the audit of 
financial statements. The chairman of the Audit Committee must 
have in-depth knowledge in these areas. 
› Corporate governance and board experience: Members of the 
Supervisory Board should have experience as a member of the 
supervisory board or executive board of a German listed com-
pany or as a member of such a body of a foreign listed company. 
The Supervisory Board has specified the following targets for its 
composition: 
› The number of members of the Supervisory Board who have the 
required international experience should at a minimum remain 
constant. At least seven members currently have international 
skills and experience. 
› An appropriate number of members with industry experience 
should be maintained. Far more than half of the Supervisory 
Board members cover this area of expertise. 
› The Supervisory Board should have an appropriate number of 
members on the shareholder side whom it deems to be inde-
pendent in accordance with the German Corporate Governance 
Code. Taking into account the ownership structure, a Supervisory 
Board member is therefore considered independent if they are in-
dependent of the company and its Executive Board, and also in-
dependent of a controlling shareholder. 
› The independence of shareholder representatives was assessed 
in accordance with the German Corporate Governance Code by 
shareholder representatives on the Supervisory Board. As part of 
the assessment of independence from the Executive Board and 
the company, it was taken into account that five shareholder rep-
resentatives will have been members of the Supervisory Board 
for more than 12 years in 2022. It was also taken into considera-
tion in the assessment of independence from any controlling 
shareholder that three Supervisory Board members are linked to 
the controlling shareholder, the IHO Group, Herzogenaurach, Ger-
many. As determined in the assessment by the shareholder repre-
sentatives on the Supervisory Board, the Supervisory Board still 
has an appropriate number of members on the shareholder side 
who are independent in accordance with the German Corporate 
Governance Code. This assessment is based on the following 
considerations: 
› More than one half of the shareholder representatives should 
be independent of Continental AG and its Executive Board. In 
the assessment of the independence of the five shareholder 
representatives that have been on the Supervisory Board for 
more than 12 years, given the former and ongoing administra-
tion of the members in question, the shareholder representa-
tives overall see no grounds to accept changing the existing as-
sessment of independence. The shareholder representatives 
currently on the Supervisory Board are therefore all, without ex-
ception, independent of Continental AG and its Executive Board. 
› At least five shareholder representatives should be independent 
of the controlling shareholder, the IHO Group, headquartered in 
Herzogenaurach, Germany. The shareholder representatives in-
dependent of the controlling shareholder are: 
› Prof. Dr.-Ing. Wolfgang Reitzle 
› Stefan E. Buchner (as of January 1, 2022) 
› Dr. Gunter Dunkel 
› Satish Khatu 
› Isabel Corinna Knauf 
› Sabine Neuß 
› Prof. Dr. Rolf Nonnenmacher 
› Prof. KR Ing. Siegfried Wolf (until December 31, 2021) 
 
› In its nominations for election to the Supervisory Board, the  
Supervisory Board as a rule does not nominate candidates who 
have already held this position for three full terms of office at the 
time of the election.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
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› The Supervisory Board has not stipulated an age limit as recom-
mended in recommendation C.2 of the German Corporate Gov-
ernance Code. It does not consider such a general criterion to be 
suitable for evaluating the qualifications of a candidate’s nomina-
tion to the Supervisory Board. 
According to Section 96 (2) AktG, the Supervisory Board of Conti-
nental AG is also subject to the requirement that at least 30% of its 
members be women and at least 30% be men. The company reports 
on this on page 21, in accordance with Section 289f (2) No. 4 to 6 
HGB. 
In its nominations of candidates for election to the Supervisory 
Board, the Supervisory Board takes into account the requirements 
of the profile of skills and expertise for the board as a whole as well 
as the aforementioned targets. 
The corporate governance statement will continue to provide regu-
lar updates on the status of the implementation of the targets. 
Committees of the Supervisory Board 
The Supervisory Board currently has five committees with decision-
making powers: the Chairman’s Committee, the Audit Committee, 
the Nomination Committee, the committee formed in accordance 
with Section 27 (3) of the German Co-determination Act (MitbestG) 
(the Mediation Committee) and the committee for the approval of 
company transactions with related persons (Committee for Related 
Party Transactions) (Section 107 (3) Sentence 4; Section 111b (1) 
AktG). 
The members of the Mediation Committee also form the Chair-
man’s Committee, which comprises the chairman of the Super- 
visory Board, Prof. Dr.-Ing. Wolfgang Reitzle (chairman); his vice 
chairperson, Christiane Benner; Georg F. W. Schaeffler; and Jörg 
Schönfelder. Key responsibilities of the Chairman’s Committee  
are preparing the appointment of Executive Board members and 
concluding, terminating and amending their employment contracts 
and other agreements with them. However, the plenum of the  
Supervisory Board alone is responsible for establishing the total re-
muneration of the Executive Board members. Another key respon-
sibility of the Chairman’s Committee is deciding on the approval of 
certain transactions and measures by the company as specified in 
the Supervisory Board By-Laws. The Supervisory Board has con-
ferred some of these participation rights on the Chairman’s Com-
mittee, each member of which may however, in individual cases, 
demand that a matter again be submitted to the plenary session 
for decision. 
The Audit Committee’s tasks relate primarily to the overseeing of 
the company’s accounting, the audit of the financial statements, 
risk management, and compliance. In particular, the committee 
deals with the audit of the accounts, monitors the accounting pro-
cess and the effectiveness of the internal control system, the risk 
management system, the internal audit system and compliance; 
and performs a preliminary examination of Continental AG’s annual 
financial statements and the consolidated financial statements. The 
committee makes its recommendation to the plenary session of 
the Supervisory Board, which then passes resolutions pursuant to 
Section 171 AktG. Furthermore, the committee discusses the com-
pany’s draft interim financial reports. It is also responsible for ensur-
ing the necessary independence of auditors and deals with addi-
tional services performed by the auditors. The committee engages 
the auditors, determines the focus of the report as necessary, nego-
tiates the fee and regularly reviews the quality of the audit. It also 
gives its recommendation for the Supervisory Board’s proposal to 
the Annual Shareholders’ Meeting for the election of the auditor. 
The Audit Committee is also responsible for the preliminary audit of 
non-financial reporting and for the engagement of an auditor for its 
review, if any. The chairman of the Audit Committee is Prof. Dr. Rolf 
Nonnenmacher. He is independent in all respects as defined in the 
German Corporate Governance Code. As an auditor, he has special 
knowledge and experience in the application of accounting princi-
ples and internal control procedures, and is entrusted with perform-
ing a financial statement audit. Another committee member, Klaus 
Rosenfeld, is also a financial expert, and likewise has in-depth know-
ledge in the area of accounting. The other members are Francesco 
Grioli, Dirk Nordmann, Georg F. W. Schaeffler and Michael Iglhaut. 
Neither a former Executive Board member nor the chairman of the 
Supervisory Board may act as chairman of the Audit Committee. 
The Nomination Committee is responsible for nominating suita-
ble candidates for the Supervisory Board to propose to the Annual 
Shareholders’ Meeting for election. In addition, the committee must 
propose targets for the Supervisory Board’s composition and pro-
file of skills and expertise and review both regularly. The Nomina-
tion Committee consists entirely of shareholder representatives, 
specifically the two members of the Chairman’s Committee, Prof. 
Dr.-Ing. Wolfgang Reitzle (chairman) and Georg F. W. Schaeffler; the 
chairman of the Audit Committee, Prof. Dr. Rolf Nonnenmacher; and 
Maria-Elisabeth Schaeffler-Thumann as an additional member. 
In accordance with Section 31 (3) Sentence 1 MitbestG, the Media-
tion Committee becomes active only if the first round of voting on 
a proposal to appoint a member of the Executive Board or to remove 
a member by consent does not achieve the legally required two-
thirds majority. This committee must then attempt mediation be-
fore a new vote is taken. 
The Committee for Related Party Transactions (RPT Commit-
tee) deals with transactions between Continental AG and a related 
person, where these transactions require the prior consent of Conti-
nental AG’s Supervisory Board in accordance with Sections 111a 
and 111b AktG. Transactions in this case require the prior consent 
of the Supervisory Board. In addition to the chairman of the Super-
visory Board, Prof. Dr.-Ing. Wolfgang Reitzle, and the chairman of 
the Audit Committee, Prof. Dr. Rolf Nonnenmacher, the Committee 
for Related Party Transactions includes two further members 
elected by the Supervisory Board from among the employee repre-
sentatives. 
More information on the members of the Supervisory Board and its 
committees can be found on pages 217 and 218. Current re-
sumes, which are updated annually, are available on Continental’s 
website  under Company/Corporate Governance. They also con-
tain information on how long each member has held their position 
on the Supervisory Board.

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Shareholders and the Shareholders’ Meeting 
The company’s shareholders exercise their rights of participation 
and control in the Annual Shareholders’ Meeting. The Annual Share-
holders’ Meeting, which must be held in the first eight months of 
every fiscal year, decides on all issues assigned to it by law, such as 
the appropriation of profits, the election of shareholder representa-
tives to the Supervisory Board, the discharging of Supervisory 
Board and Executive Board members, the appointment of auditors 
and the approval of the remuneration report. Each Continental AG 
share entitles the holder to one vote. There are no shares confer-
ring multiple or preferential voting rights and no limitations on vot-
ing rights. 
All shareholders who register in a timely manner and prove their 
entitlement to participate in the Shareholders’ Meeting and to exer-
cise their voting rights are entitled to participate in the Sharehold-
ers’ Meeting. To facilitate the exercise of their rights and to prepare 
them for the Shareholders’ Meeting, the shareholders are fully in-
formed about the past fiscal year and the points on the upcoming 
agenda before the Shareholders’ Meeting by means of the annual 
report and the invitation to the meeting. All documents and infor-
mation on the Annual Shareholders’ Meeting, including the annual 
report, are published on the company’s website  in German and 
English. Moreover, the Annual Shareholders’ Meeting can also be 
watched in full in an audio-visual stream on the company’s website. 
When holding the Annual Shareholders’ Meeting, the chairperson 
presiding over the meeting is guided by the fact that an ordinary 
annual shareholders’ meeting should be concluded after four to six 
hours. To make it easier for shareholders to exercise their rights, the 
company offers all shareholders who cannot or do not want to ex-
ercise their voting rights during the Annual Shareholders’ Meeting 
themselves the opportunity to vote at the Annual Shareholders’ 
Meeting via a proxy who is bound by instructions or through ab-
sentee voting. The required voting instructions can also be issued 
to the proxy via an internet service (InvestorPortal) before the end 
of the general debate on the day of the Shareholders’ Meeting. In 
addition, the service provider that assists the company with con-
ducting the Shareholders’ Meeting is instructed not to forward the 
individual voting instructions to Continental until the day before the 
Shareholders’ Meeting. 
Accounting and auditing of financial statements 
The Continental Group’s accounting is prepared in accordance with 
International Financial Reporting Standards (IFRS) as adopted by 
the European Union (EU). The annual financial statements of Conti-
nental AG are prepared in accordance with the accounting regula-
tions of the German Commercial Code (HGB). The Annual Share-
holders’ Meeting on April 29, 2021, elected PricewaterhouseCoop-
ers GmbH Wirtschaftsprüfungsgesellschaft, Hanover (PwC) to audit 
the consolidated financial statements for fiscal 2021 as well as the 
interim financial reports of the company for the first time. Sven  
Rosorius is the responsible auditor at PwC. 
Internal control system and risk management 
Diligent corporate management and good corporate governance 
also require that the company deal with risks responsibly. Continen-
tal has a corporate-wide internal control and risk management sys-
tem, especially in terms of the accounting process, that helps ana-
lyze and manage the company’s risk situation. The risk manage-
ment system serves to identify and evaluate developments that 
could result in significant disadvantages and to avoid risks that 
would jeopardize the continued existence of the company. We re-
port on this in detail in the report on risks and opportunities, which 
forms part of the management report for the consolidated financial 
statements. 
Transparent and prompt reporting 
As part of our investor relations and corporate communications,  
we regularly report to shareholders, analysts, shareholders’ associa-
tions, the media and interested members of the public in equal 
measure on significant developments in the company and its situa-
tion. All shareholders have instant access to all the information that 
is also available to financial analysts and similar parties. The web-
site  of Continental AG provides the latest information, including 
the company’s financial reports, presentations held at analyst and 
investor conferences, press releases and ad-hoc disclosures. The 
dates of key periodic publications (annual report, quarterly state-
ments and half-year report) and events as well as of the Annual 
Shareholders’ Meeting and the annual financial press conference 
are announced well in advance in a financial calendar on the web-
site  of Continental AG. For the scheduled dates for 2022, see the 
 Investors/Events and Presentations section. 
Reporting pursuant to Section 289f (2) No. 4 to 6 HGB 
Pursuant to Section 96 (2) AktG, the Supervisory Board of Conti-
nental AG as a listed stock corporation subject to the German Co-
determination Act consists of at least 30% women and at least 30% 
men. This minimum quota must always be fulfilled by the Supervi-
sory Board as a whole. Due to an objection by the employee repre-
sentatives against the overall fulfillment in accordance with Sec-
tion 96 (2) Sentence 3 AktG before the election of the Supervisory 
Board in spring 2019, the minimum quota for the Supervisory 
Board of Continental AG must be fulfilled separately by the share-
holder representatives and the employee representatives. Women 
made up 30% of both the shareholder and employee representa-
tives on the Supervisory Board of Continental AG as at Decem-
ber 31, 2021. 
In accordance with Section 111 (5) AktG, the Supervisory Board 
must set a target quota of women on the Executive Board and a 
deadline for achieving this target. If the ratio of women is less than 
30% at the time this is set, the target must not subsequently fall be-
low the ratio achieved. In December 2016, the Supervisory Board 
set a target quota for women on the Executive Board of Continen-
tal AG of at least 11% for the period up until December 31, 2021.

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With women making up 28.6% of the Executive Board of Continen-
tal AG as at December 31, 2021, and 40% at the time this report 
was prepared, this target ratio was fulfilled. With the previous time 
period for attaining the target of December 31, 2021, having al-
ready ended, in December 2021 the Supervisory Board set a new 
target quota for women on the Executive Board of Continental AG 
of at least 28.6% by July 31, 2022. Beyond this point in time, the 
ratio requirement as set out in Section 76 (3a) AktG applies for the 
ratios of new Executive Board members. 
In accordance with Section 76 (4) AktG, the Executive Board of 
Continental AG is required to set targets for the ratio of women in 
the first two management levels below the Executive Board and a 
deadline for achieving these targets. In November 2016, the Execu-
tive Board set the following target quotas for women in the first two 
management levels below the Executive Board at Continental AG 
for the period up until December 31, 2021: 26% for the first man-
agement level and 33% for the second management level. Due to 
reorganizations that have taken place in the corporate functions 
since the end of 2016, the total number of managers at the first 
and second management levels has changed. As a result, the target 
quota for the first management level was significantly exceeded at 
37% as at December 31, 2021, while the equivalent target quota 
for the second management level was missed at 29%. 
Given that the time period for attaining the previous target quotas 
came to an end on December 31, 2021, the Executive Board set 
new target quotas for women in the first two management levels 
below the Executive Board at Continental AG for the period up until 
December 31, 2026: 37% for the first management level and 33% 
for the second management level. 
As a global company, Continental continues to attach high priority 
to the goal of steadily increasing the proportion of women in man-
agement positions throughout the Continental Group, above and 
beyond the legal requirements in Germany. 
Diversity concept 
Continental counts on the diversity of its employees. The current 
focus of its commitment to promote diversity is on internationality 
and a balanced gender ratio. 
The Supervisory Board also pays attention to the diversity of the 
composition of the Executive Board. The Executive Board does the 
same when appointing people to management positions. As a basic 
principle, the Executive Board aims to achieve a balanced ratio of 
domestic to international managers everywhere. The proportion of 
local and international managers varies according to region. In 
2021, a total of about 48% of the Continental Group’s managers 
came from countries other than Germany. Continental is also work-
ing on increasing the proportion of women in management posi-
tions. In 2021, we were able to increase this number to around 
18% across the Continental Group (PY: 16%). The proportion is to 
be increased to 25% by 2025. 
In drawing up the Executive Board’s succession plan, the Super- 
visory Board together with the Executive Board makes use of the 
measures and programs to promote internationality and women in 
management positions, thus making it possible to identify and de-
velop potential international candidates and female managers for 
positions on the Executive Board. The aim in the medium term is to 
use these measures to increase the diversity of the Executive Board 
even further. 
The Supervisory Board also pays attention to the diversity of its 
own composition. For the Supervisory Board, diversity refers to age, 
gender, background and professional experience, among other 
things. The Supervisory Board is convinced that it will achieve di-
versity in its composition in particular by fulfilling the profile of skills 
and expertise and meeting the targets for its composition.  
Workforce Diversity Concept 
We firmly believe that workforce diversity enhances our agility and 
innovative capacity as a company because different perspectives 
give rise to new ideas. Particularly in these times of digital transfor-
mation, workforce diversity is instrumental in driving the future suc-
cess of the company. In 2008, Continental signed the German Di-
versity Charter, and in doing so pledged to promote workforce di-
versity. When we updated our Code of Conduct at the start of 
2019, we strengthened our commitment to this pledge internally.  
Facilitating and shaping workforce diversity is an integral part of 
the corporate function Group Talent Management and Organiza-
tional Development, which is responsible for designing a higher-
level strategic framework for the development and promotion of  
diversity and supporting the business units in implementing their 
own objectives. Diversity management is firmly anchored in the 
global HR strategy. “Enable Transformation” is one component of 
the strategic HR alignment that deals with digital transformation. 
This includes a concept to harness the opportunities offered by dig-
italization to the greatest extent possible at Continental. In this con-
text, our company’s strategy to promote workforce diversity helps 
identify the potential of digitalization and promote new ways of 
thinking across business areas.  
Three key corporate-wide levers have been identified to promote 
workforce diversity:  
› Driving wide-scale cultural change  
› Implementing specific objectives to increase diversity  
› Empowering managers to actively support workforce diversity 
 
The “Global Diversity Network” serves as a platform for cultural de-
velopment. There are currently a total of 38 workforce diversity 
networks within this umbrella organization, which provides a forum 
for members from around the world to share their thoughts and ex-
periences in this area on a regular basis.  
 
The important events aimed at supporting a more inclusive corpo-
rate culture include the following:  
› “Transformation Summit”: This event focuses specifically on the 
challenges of transformative and organizational change and aims 
to empower employees to deal with such changes. Here, partici-
pants work in various teams to develop solutions to specific prob-
lems at Continental.

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› “Women (Senior) Executive Networks Event”: In 2021, we brought 
together women with business responsibility from the different 
business areas and regions in six different networks with spon-
sors to provide a platform for networking and sharing thoughts 
and ideas on various topics. With the aim of further expanding 
these networks, they will be meeting together. 
› “LGBTQ+ Awareness Workshop”: For the first time, a workshop 
was held in 2021 for all employees and management personnel 
with a focus on providing information and enabling self-reflection 
on the topic of LGBTQ+ in the workplace. This event not only ad-
dresses people’s own unconscious prejudices, but also demon-
strates ways that contribute to an appreciative working environ-
ment. 
Efforts to strengthen diversity are further supported through the in-
troduction of a global key performance indicator. To promote the 
position of women in our company, we have set ourselves the tar-
get of increasing the proportion of female employees at the execu-
tive and senior executive levels to 25% by 2025. In 2021, this fig-
ure was already at 17.8% (PY: 16.1%) for women in the first two 
management levels. In 2016, we rolled out the Women@Work pro-
gram around the world to nurture women in the early stages of 
their careers and to network them with female employees at the ex-
ecutive and senior executive levels. To date, more than 650 women 
in North America and Europe have participated in this program. 
Many of them are still in regular contact with one another today.  
In addition to supporting their career development, improving the 
balance of work and family life is another important tool for pro-
moting the position of women in our company. In particular, we are 
continually increasing our efforts to make work more flexible. Initia-
tives in this area include the introduction of flexible work models 
such as part-time and flex time, as well as remote working and sab-
baticals.  
Our success in increasing workforce diversity in the company de-
pends to a great extent on the attitudes of management personnel. 
To ensure a variety of viewpoints and perspectives are incorpo-
rated into our corporate culture, “cross moves”, i.e. a move to a dif-
ferent business area, business unit or role, as well as international 
experience, are now essential criteria for promoting our employees 
to executive and senior executive levels.  
Diagnostic procedures also help to ensure that staffing decisions 
are made as objectively as possible. Diversity is also a core element 
of many continuing education and training courses. The “Differ-
ences Add Value” training course supports managers, among oth-
ers, to deepen their understanding of diversity by sharing and dis-
cussing practical experiences and business situations relating to di-
versity at Continental. The “Train the Trainer” principle lays the 
foundation for this training course to reach as many Continental 
employees around the world as possible, giving them a greater un-
derstanding of the added value generated when people with differ-
ent perspectives work together. 
Compliance 
Source: 2021 Annual Report > To our Shareholders > Corporate Governance > 
Compliance (
 starting p. 22) 
 
One of our four values is trust. Trust requires integrity, honesty and 
incorruptibility. Compliance by management and employees with 
all the legal requirements that apply to Continental AG and its sub-
sidiaries and its internal regulations has therefore long been a goal 
of the company and an integral part of its corporate culture. In ad-
dition to our corporate guidelines, OUR BASICS, this aim is reflected 
in particular in our sustainability ambition and the Code of Conduct 
that is binding for all employees. The Executive Board is firmly com-
mitted to these principles and that of “zero tolerance,” particularly 
with regard to corruption and antitrust violations. 
The basis of our compliance management system (CMS) is a com-
prehensive analysis of the compliance risks to which the company 
is exposed. The company and its business activities are examined 
in terms of potential compliance risks that can arise, for instance, 
from its structures and processes, a specific market situation or 
even operations in certain geographic regions. This takes into ac-
count, for example, the results of regular corporate-wide reporting 
on compliance risks in the governance, risk and compliance (GRC) 
system, the findings of investigations by the Group Audit depart-
ment, and external sources such as Transparency International’s 
Corruption Perception Index. This analysis is substantiated and ex-
panded primarily by a series of discussions with management and 
employees at all levels and at our training events. The risk analysis 
is not a one-off procedure, but is constantly reviewed and updated. 
The chief compliance officer heads the Compliance department 
and reports directly to the chairman of the Executive Board. The fo-
cal area of the work of the Compliance department is preventing vi-
olations of antitrust and competition law, corruption, fraud and 
other property offenses, and infringements of regulations for the 
prevention of money laundering. For other areas in which there is a 
risk of compliance violations, responsibility for compliance manage-
ment lies with the respective functions that have performed these 
duties competently for a long time and are supported in these 
tasks by the Compliance department. 
The CMS consists of the three pillars of prevention, detection and 
response: 
› The first pillar of CMS – prevention – serves to maintain and fur-
ther develop a general culture of compliance. This begins with 
setting an appropriate “tone from the top” by the Executive Board 
and management and, in addition to risk analysis, includes in par-
ticular employee training. Here, we attach great importance to in-
person events at which we can address employees personally 
and directly and discuss their questions. Due to the restrictions 
caused by the COVID-19 pandemic, we are currently conducting 
most of this training in the form of webinars. We use e-learning 
programs as well. Prevention is also fostered by consultation on 
specific matters with the Compliance department and by the in-
ternal publication of guidelines on topics such as antitrust law 
and contact with competitors, giving and receiving gifts, and 
sponsoring. Continental introduced the Business Partner Code of

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Conduct to prevent compliance violations by suppliers, service 
providers or similar third parties that could have negative reper-
cussions for Continental, or that could be attributed to the com-
pany under laws such as the UK Bribery Act. This must be recog-
nized as a basic requirement for doing business with Continental. 
If necessary, third-party due diligence can be performed with re-
gard to compliance issues. Another key element of preventive 
compliance is communication measures, which are carried out on 
a regular basis. These include video tutorials on compliance, as 
well as Compliance Days and Compliance Games that are orga-
nized by the individual locations with the support of the compli-
ance organization. They, too, have been converted to a digital for-
mat. 
› The second pillar of CMS – detection – comprises regular and ad 
hoc audits. In addition, compliance-related matters are always the 
subject of audits carried out by the Group Audit department. Con-
tinental has set up the Compliance & Anti-Corruption Hotline to 
give employees and third parties outside the Continental Group 
the opportunity to report violations of legal regulations, its funda-
mental values and ethical standards. Information on any kind of 
potential violations, such as bribery or antitrust behavior, but also 
other offenses or accounting manipulation, can be reported 
anonymously via the hotline where permissible by law. The Group 
Audit and Compliance departments investigate and systemati-
cally pursue all substantiated tips received by this hotline. The 
hotline is available worldwide in many different languages. The 
number of tips received by the hotline has risen steadily over the 
past few years. We see this as a sign of increased awareness of 
compliance topics and as a success in our compliance work. 
Since the start of the COVID-19 pandemic and the associated re-
strictions, we have recorded a decline in the number of tips re-
ceived. 
› The third pillar of CMS – response – deals with the consequences 
of compliance violations that have been identified. The Compli-
ance department is involved in decisions on measures that may 
be required, including any individual sanctions. Furthermore, the 
Compliance department conducts a thorough analysis of such 
events to ensure that isolated incidents are not symptoms of fail-
ings in the system, and to close any gaps in prevention and con-
tinuously further develop the compliance management system. 
In 2016, the design, implementation and effectiveness of Continen-
tal AG’s CMS for the areas of anti-corruption, competition/antitrust 
law, fraud and other property offenses were audited in accordance 
with Audit Standard 980 of the Institut der Wirtschaftsprüfer in 
Deutschland e. V. (IDW) and were issued an unqualified review opin-
ion. 
Material compliance-related matters and risks are described in 
more detail in the report on risks and opportunities starting on 
page 92, and in the notes to the consolidated financial statements 
(Note 38). 
Code of Conduct and Training 
The Continental Code of Conduct describes the framework of Con-
tinental’s alliance for creating top value from values based on our 
shared vision and mission and our four corporate values: Trust, Pas-
sion To Win, Freedom To Act, and For One Another, as well as the 
sustainability of our actions. The Code of Conduct addresses the 
following topics: 
› Compliance with laws, regulations, and internal rules, standards, 
and instructions  
› Respect for human rights and fair working conditions  
› Health, safety, the environment, and product integrity  
› Honest business practices  
› Compliance with antitrust laws  
› Anti-corruption  
› Prevention of money laundering  
› Conflicts of interest  
› Use of Continental’s corporate property  
› Data protection and cybersecurity  
› Confidential information and intellectual property  
› Import and export regulations  
› Tax compliance. 
 
In fiscal 2021, 6,378 employees completed e-learning training on 
the Code of Conduct (PY: n. a.). In addition, some 117,000 partici-
pants were recorded taking other compliance e-learning courses 
on anti-corruption, antitrust law, and the Vitesco spin-off (PY: 
14,400 including Vitesco Technologies), while around 13,000 par-
ticipants (incl. Vitesco Technologies) attended in-person training 
courses on anti-corruption and antitrust law (PY: 10,504 incl. 
Vitesco Technologies), most of which were conducted virtually as 
webinars. Participants in in-person training events are selected on a 
risk-based and target group-oriented basis.  
Compliance training sessions 
2021 
 continuing 
operations 
2020  
continuing and 
discontinued 
operations 
Employees who have completed  
e-learning on the Code of Conduct 
6,378 
n. a. 
Participants in e-learning courses on anti-
corruption, antitrust law, or the Vitesco spin-
off 
~ 117,000 
~ 14,400 
Participants in in-person training courses on 
anti-corruption and antitrust law 
~ 13,0001 
10,504 
 
 
 
1 Number includes both continuing and discontinued operations.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
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Tax Compliance 
We are aware of our social responsibility in terms of meeting our 
tax obligations. In our Code of Conduct, we expressly pledge to 
comply with all national and international tax regulations.  
The Continental Group tax policy sets out a framework for organiz-
ing the management of corporate-wide tax risks to enable monitor-
ing of tax compliance. In this context, a tool-based tax risk manage-
ment system is currently being implemented throughout the Conti-
nental Group. This system identifies and assesses tax risks and stip-
ulates appropriate risk-mitigating measures. In this way, we take 
steps to ensure, for example, that there are no illegal tax reductions 
or infringements of our obligations to cooperate with the tax au-
thorities. Furthermore, the Group tax policy stipulates that Conti-
nental shall not pursue any aggressive tax planning activities and 
will pay taxes in the areas where our business operations create 
value. Our corporate-level tax departments maintain a professional 
relationship with the tax authorities.  
Within the framework of its statutory obligations, Continental AG 
discloses relevant tax information for all Continental Group entities 
on an annual basis, such as tax payments on income and profits, to 
Germany’s Federal Central Tax Office (in what is termed country-by-
country reporting). This tax information is based on consolidated fi-
nancial statements audited and attested to by an independent au-
ditor.

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In the Spotlight 
 
Litigation and Compensation Claims 
Source: 2021 Annual Report > Consolidated Financial Statements > 
Notes to the Consolidated Financial Statements > Other Disclosures (
 
starting p. 204) 
 
Continental AG and its subsidiaries are involved in lawsuits, 
regulatory investigations and proceedings worldwide. Such 
lawsuits, investigations and proceedings could also be initiated 
or claims asserted in other ways in the future. 
Product liability 
In particular, Continental is constantly subject to product liabil-
ity and other claims in which the company is accused of the 
alleged infringement of its duty of care, violations against war-
ranty obligations or defects of material or workmanship. 
Claims from alleged breaches of contract resulting from prod-
uct recalls or government proceedings are also asserted. 
Among other cases, claimants in the USA file lawsuits for prop-
erty damage, personal injury and death caused by alleged de-
fects in our products. Claims for material and non-material 
damages, and in some cases punitive damages, are asserted. 
The outcome of individual proceedings, which are generally 
decided by a jury in a court of first instance, cannot be pre-
dicted with certainty. No assurance can be given that Conti-
nental will not incur substantial expenses as a result of the fi-
nal judgments or settlements in some of these cases, or that 
these amounts will not exceed any provisions set up for these 
claims. Some subsidiaries in the USA are exposed to relatively 
limited claims for damages from purported health injuries al-
legedly caused by products containing asbestos. The total 
costs for dealing with all such claims and proceedings have 
amounted to less than €50 million per year since 2006. 
Disputes over industrial property rights 
Continental could be liable to pay compensation for infringe-
ments or could be forced to purchase licenses to continue us-
ing technology from third parties. Continental, for example, 
supplies telecommunication modules that transmit vehicle 
data, enable voice and internet functionality, and are compati-
ble with cellular communication standards. In this respect, 
there is a risk that Continental or its suppliers may be denied 
their own direct license to use patents relating to these stand-
ards (standard essential patents), especially in the field of tele-
communications standards such as 3G, 4G or 5G, and that 
Continental may become dependent on licenses and the con-
ditions under which they are granted to customers. 
Regulatory proceedings 
In May 2005, the Brazilian competition authorities opened in-
vestigations against Continental’s Brazilian subsidiary Conti-
nental Brasil Industria Automotiva Ltda., Guarulhos, Brazil 
(CBIA), following a complaint of anticompetitive behavior in 
the area of commercialization of tachographs. On August 18, 
2010, the Brazilian antitrust authorities determined an “invita-
tion to cartel” and imposed a fine of BRL 12 million (around 
€1.9 million) on CBIA, which was then reduced to BRL 10.8 
million (around €1.7 million). CBIA denies the accusation that 
it has infringed Brazilian antitrust law. Although the court of 
first instance appealed to by CBIA upheld the decision, on 
CBIA’s further appeal the next higher court annulled this deci-
sion and remanded the matter. In case an infringement of Bra-
zilian antitrust law is found, third parties may, in addition, claim 
damages from CBIA. 
On October 2, 2006, South African antitrust authorities re-
ceived a complaint from a third party accusing several South 
African tire manufacturers of alleged antitrust behavior, includ-
ing Continental Tyre South Africa (Pty.) Ltd., Port Elizabeth, 
South Africa (CTSA), a subsidiary of Continental. On August 
31, 2010, the South African antitrust authorities came to the 
conclusion that CTSA had violated South African antitrust law 
and referred the matter to the responsible antitrust court for a 
decision. CTSA denies the allegation of infringements of South 
African antitrust law. However, the tribunal could impose a fine 
of up to 10% of CTSA’s sales. In addition, third parties may also 
claim damages from CTSA in case of an infringement of South 
African competition law. 
As a result of investigations by the US Department of Justice 
(DOJ) and the Korea Fair Trade Commission (KFTC) in connec-
tion with the suspected involvement in violations of US and 
South Korean antitrust law in the instrument cluster business, 
which came to light in 2012, the KFTC imposed a fine on Con-
tinental Automotive Electronics LLC, Bugang-myeon, South 
Korea (CAE), at the end of 2013, the final amount of which 
was set in 2018 at KRW 32,101 million (around €23.8 mil-
lion). In the USA, CAE and Continental Automotive Korea Ltd., 
Seongnam-si, South Korea, agreed to pay a fine of US $4.0 mil-
lion (approximately €3.5 million) in 2015. In the proceedings 
relating to class action lawsuits filed in the USA and Canada 
for alleged damages resulting from the antitrust violations, set-
tlements totaling US $5.0 million (around €4.4 million) were 
concluded in the USA in 2018 and settlements totaling CAN 
$0.6 million (around €0.4 million) concluded in Canada in 
2020.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
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. 
 
The risk of investigations into this matter by other antitrust au-
thorities and claims for damages by further alleged victims re-
mains unaffected by the fines imposed. 
As a result of investigations that came to light in 2014, the Eu-
ropean Commission imposed a fine of €44.0 million on Conti-
nental AG; Continental Teves AG & Co. oHG, Frankfurt am 
Main, Germany; and Continental Automotive GmbH, Hanover, 
Germany; on February 21, 2018, for the unlawful exchange of 
information. This involved specific brake components. Conti-
nental has set aside provisions that cover this fine. Customers 
have since approached Continental to claim for damages, in 
some cases for specific amounts. In addition, two class action 
lawsuits have been filed in Canada against Continental AG and 
several of its subsidiaries. Continental has rejected these 
claims as being without merit. Nevertheless, it cannot be ruled 
out that the resulting expenses will exceed the provisions that 
have been set aside for this purpose. In accordance with 
IAS 37.92 and GAS 20.154, no further disclosures will be 
made with regard to the proceedings and the related 
measures so as not to adversely affect the company’s inter-
ests. 
On March 3, 2021, the Brazilian antitrust authorities (Conselho 
Administrativo de Defesa Econômica, CADE), acting on the ba-
sis of the issues addressed by the European Commission and 
described above, formally initiated proceedings against Conti-
nental Teves AG & Co. oHG, Frankfurt am Main, Germany, and 
certain former employees for alleged unlawful exchange of 
competition-sensitive information concerning hydraulic brake 
systems. The proceedings against Continental are still at an 
early stage. Continental is therefore unable to reliably predict 
in any way what the outcome of these proceedings will be. If 
Continental is found responsible for any violation, CADE could 
impose a fine on the company of 0.1% to 20% of its revenue 
or that of the Continental Group in Brazil in the year prior to 
when the administrative proceedings were launched (2020). 
Non-pecuniary penalties may also be possible. Furthermore, 
customers allegedly affected by the alleged exchange of infor-
mation could claim for damages if indeed a violation of Brazil-
ian antitrust law is established. 
The public prosecutor’s office in Hanover is conducting inves-
tigative proceedings against current and former employees as 
well as former board members of Continental AG suspected of 
committing criminal acts in connection with the development 
and use of illegal defeat devices in VW diesel engines as well 
as in connection with the subsequent investigation of these 
actions, and as part of these proceedings has conducted mul-
tiple searches at locations of Continental AG and individual 
companies of the Continental Group.  
Continental AG and individual companies of the Continental 
Group are ancillary parties to these proceedings. The investi-
gations concern activities of the former Powertrain segment 
that were transferred within the scope of the spin-off to 
Vitesco Technologies Group AG, Regensburg, Germany, and its 
subsidiaries. 
In addition, the public prosecutor’s office in Frankfurt am Main, 
in connection with conducting administrative offense proceed-
ings concerning illegal defeat devices in diesel engines of an 
international automotive manufacturer – proceedings which 
have meanwhile been legally concluded against this automo-
tive manufacturer with payment of a fine – is conducting sepa-
rate administrative offense proceedings against Continen-
tal AG on suspicion of breach of supervisory duties. The public 
prosecutor’s office in Frankfurt am Main is also conducting 
separate investigative proceedings against two former em-
ployees of Continental AG for suspected criminal acts carried 
out in connection with this matter. 
Both the investigations by the public prosecutor’s office and 
the company’s internal investigation into the matters covered 
by these proceedings, which involve considerable costs and 
effort, are ongoing. Continental AG and the companies of the 
Continental Group are cooperating unreservedly with the pub-
lic prosecutor’s offices in Hanover and Frankfurt am Main. 
There is a risk that fines will be imposed as a result of the alle-
gations. The amount of such fines, which could comprise a 
levy and a penalty component, is currently unknown but col-
lectively could be significant. Furthermore, the risk of damage 
to the company’s reputation cannot be ruled out. 
To cover risks and costs arising from the proceedings con-
ducted by the public prosecutor’s offices in Hanover and 
Frankfurt am Main, a provision amounting to a high eight-fig-
ure sum has been set aside. 
In the event that fines or other measures are imposed on Con-
tinental AG and/or individual companies of the Continental 
Group that concern the transferred business, Vitesco Technol-
ogies Group AG is obligated on the basis of and in accordance 
with contractual provisions arising in particular from the cor-
porate separation agreement concluded in the context of the 
spin-off to indemnify Continental AG and any individual com-
panies of the Continental Group against the ensuing costs and 
liabilities. This is consistent with the agreement between the 
parties that all opportunities as well as all risks arising from the 
transferred business shall pass to Vitesco Technologies Group 
AG and the companies of Vitesco Technologies.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
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These regulations have not been taken into account in the for-
mation of the provision described above. In accordance with 
IAS 37.92 and GAS 20.154, no further disclosures will be 
made with regard to the proceedings and the related 
measures and any potential claims against Vitesco Technolo-
gies Group AG so as not to adversely affect the company’s in-
terests. 
In view of the scope of these national and international investi-
gations against automotive manufacturers and suppliers, fur-
ther proceedings by public authorities, civil legal proceedings, 
and claims by third parties along with the related financial 
risks cannot be ruled out.

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Remuneration Report Pursuant to 
Section 162 of the German Stock 
Corporation Act (Aktiengesetz – AktG) 
Source: Corporate Website > Company/Executive Board > 2021 Remuneration 
Report 
 
 
This remuneration report describes the amount and structure  
of the remuneration of the members of the Executive Board and 
Supervisory Board of Continental AG in fiscal 2021 (reporting year). 
It also outlines the principles of the remuneration system for the 
members of the Executive Board and the Supervisory Board. 
Earnings position in fiscal 2021 
Consolidated sales increased by €1,900.8 million or 6.0% year-on-
year to €33,765.2 million in 2021 (PY: €31,864.4 million). Before 
changes in the scope of consolidation and exchange-rate effects, 
sales rose by 7.4%. The Rubber Technologies group sector reported 
a sales increase, in part because of the negative effects of the 
COVID-19 pandemic in the previous year and the resulting low  
basis for comparison. In the Automotive Technologies group sector, 
supply problems in the semiconductor industry negatively impacted 
sales growth, particularly in the second half of the year. Overall,  
Automotive Technologies generated unchanged year-on-year sales 
in 2021; they were slightly higher before changes in the scope of 
consolidation and exchange-rate effects. The Contract Manufacturing 
group sector, which comprises contract manufacturing for Vitesco 
Technologies, reduced its sales in the fiscal year as planned.  
Exchange-rate effects had a negative impact on the Continental 
Group’s sales trend, while changes in the scope of consolidation 
had little effect. Sales from discontinued operations amounted to 
€4,432.7 million (PY: €5,857.9 million), resulting in total sales of 
€38,197.9 million (PY: €37,722.3 million) for continuing and dis-
continued operations. 
Adjusted EBIT for the Continental Group increased by €558.0 million 
or 41.6% year-on-year to €1,900.4 million (PY: €1,342.4 million) in 
2021, corresponding to 5.6% (PY: 4.2%) of adjusted sales. 
Overview of the Remuneration System  
as of January 1, 2020 
The Supervisory Board reviews the Executive Board’s remuneration 
regularly. Most recently in 2019, it once again commissioned an in-
dependent consultant to review the remuneration of the Executive 
Board and the remuneration system, in order to take into account 
changes in the general conditions as a result of the German Act for 
the Implementation of the 2nd EU Shareholder Rights Directive 
(ARUG II) – which took effect on January 1, 2020 – and the new 
version of the German Corporate Governance Code of December 
16, 2019 (published by the German Federal Ministry of Justice in 
the official section of the electronic Federal Gazette (Bundesanzei-
ger) on March 20, 2020). On the basis of reviews by the independ-
ent consultant, the Supervisory Board discussed a new remunera-
tion system for the Executive Board in detail and finalized this at its 
meeting on March 17, 2020. This remuneration system was then 
approved by the Annual Shareholders’ Meeting of Continental AG 
on July 14, 2020, with an approval rate of 97.41% (hereinafter “re-
muneration system”). 
The remuneration system has applied to the remuneration of mem-
bers of the Executive Board of Continental AG since January 1, 
2020. It is available online at  www.continental.com under Com-
pany/Executive Board. This remuneration report describes the key 
elements of the remuneration system as well as the structure and 
amount of the remuneration for individual members of the Execu-
tive Board and Supervisory Board in the reporting year in accord-
ance with Section 162 AktG. 
The remuneration system for members of the Executive Board 
comprises a fixed component that is unrelated to performance  
as well as a variable component that is based on performance. 
1. Fixed remuneration component 
The fixed component that is unrelated to performance comprises 
the fixed annual salary, additional benefits and future benefit rights. 
Additional benefits include (i) provision of a company car, which 
can also be for personal use, (ii) reimbursement of travel expenses, 
as well as relocation costs and expenses for running a second 
household, where this is required for work reasons, (iii) a regular 
health check, (iv) directors’ and officers’ (D&O) liability insurance 
with deductible in accordance with Section 93 (2) Sentence 3 AktG, 
(v) accident insurance, (vi) the employers’ liability insurance associ-
ation contribution including, where necessary, income tax incurred 
as a result, as well as (vii) health insurance and long-term care in-
surance contributions based on Section 257 of Book V of the Ger-
man Social Code (SGB V) and Section 61 of Book XI of the German 
Social Code (SGB XI). 
In accordance with their future benefit rights, each member of the 
Executive Board is granted post-employment benefits that are paid 
starting at the age of 63, but not before they leave the service of 
Continental AG (hereinafter “insured event”). From January 1, 2014, 
the company pension for the members of the Executive Board was 
changed to a defined contribution commitment. A capital compo-
nent is credited to the Executive Board member’s pension account 
each year. To determine this, a fixed contribution, agreed by the Su-
pervisory Board in the Executive Board member’s service agree-
ment, is multiplied by an age factor that represents an appropriate 
return. When the insured event occurs, the benefits are paid out as 
a lump sum, in installments or – as is normally the case due to the 
expected amount of the benefits – as a pension. Post-employment 
benefits must be adjusted after commencement of such benefit 
payments by 1% p. a. in accordance with Section 16 (3) No. 1 of the 
German Company Pensions Law (Betriebsrentengesetz – BetrAVG). 
For Nikolai Setzer, Helmut Matschi and Wolfgang Schäfer, the future 
benefit rights accrued until December 31, 2013, were converted at 
that time into a starting component in the capital account. In these 
cases, the post-employment benefits must be adjusted after com-
mencement of such benefit payments by 1.75% p. a. to take account 
of the obligation stipulated in Section 16 (1) BetrAVG.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
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2. Variable remuneration component 
The variable component that is based on performance comprises a 
short-term remuneration component (performance bonus without 
equity deferral) as well as long-term remuneration components 
(long-term incentive and equity deferral of the performance bonus). 
For the variable remuneration components, before the start of each 
fiscal year, target criteria are determined by the Supervisory Board 
with a view to its strategic goals, the provisions of Sections 87 and 
87a AktG and the German Corporate Governance Code in its re-
spective valid version, whereby the degree to which these criteria 
are met will determine the actual amount paid out. 
The Supervisory Board may take the function and area of respon-
sibility of the individual members of the Executive Board into ac-
count accordingly when determining the amount of the total tar-
get-based remuneration. As part of this, shares of the individual re-
muneration component for the total target-based remuneration  
are indicated below in percentage ranges. The precise proportions 
therefore vary depending on the functional differentiation as well 
as a possible change within the framework of the yearly remunera-
tion review. 
The fixed annual salary comprises 22% to 28% of the target remu-
neration, the performance bonus (excluding equity deferral) between 
17% and 22%, and the equity deferral and long-term incentive be-
tween 33% and 38%. Future benefit rights make up between 17% 
and 23% of the target remuneration, and additional benefits make 
up approximately 1%. 
 
1 Average figure for 2021. 
2 Based on a target amount (here €1.167 million) for 100% achievement of defined EBIT, ROCE and FCF targets as well as a personal contribution factor (PCF) of 1.0. A 
maximum of 200% of the target amount can be achieved. 
3 From the net inflow of the performance bonus, shares of Continental AG with a value of 20% of the total gross amount of the performance bonus must be purchased and held 
for a period of three years. 
4 Based on the allotment value, which is converted into virtual shares of Continental AG. The payment amount depends on the relative total shareholder return, the sustainability 
criteria achieved and the share price before the payment. A maximum of 200% of the allotment value can be achieved. 
a) Performance bonus (short-term incentive, STI) 
In the service agreement, the Supervisory Board agrees to a target 
amount for the performance bonus (hereinafter “STI target amount”) 
that is granted to each member of the Executive Board in the event 
of 100% target achievement. The maximum amount of the perfor-
mance bonus is limited to 200% of the STI target amount. 
The amount of the STI to be paid out depends on the extent to which 
a member of the Executive Board achieves the targets set by the 
Supervisory Board for this Executive Board member for the follow-
ing three key financial indicators as performance criteria within the 
meaning of Section 87a (1) Sentence 2 No. 4 AktG: 
› Earnings before interest and tax (hereinafter “EBIT”), adjusted for 
goodwill impairment as well as gains and/or losses from the dis-
posal of parts of the company. 
› Return on capital employed (hereinafter “ROCE”) as the ratio of 
EBIT (adjusted, as mentioned above) to average operating assets 
for the fiscal year. 
› Cash flow before financing activities (hereinafter “free cash flow”), 
adjusted for cash inflows and outflows from the disposal or acqui-
sition of companies and business operations.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
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The degree to which the EBIT target is achieved is weighted at 40%, 
the ROCE target at 30% and the free cash flow target at 30% in the 
calculation of the STI. 
For each financial performance criterion, the target value for 100% 
target achievement corresponds to the value that the Supervisory 
Board agreed in each case for this financial performance criterion 
in the planning for the respective fiscal year. 
For each financial performance criterion, the Supervisory Board de-
termines the values for target achievement of 0% and 200% on an 
annual basis. The degree to which the target is achieved is calcu-
lated on a straight-line basis between 0% and 200% by comparing 
this with the respective actual value for the fiscal year. 
 
In addition, prior to the start of each fiscal year, the Supervisory 
Board can determine personal, non-financial performance criteria 
to be included in target achievement in the form of a personal con-
tribution factor (hereinafter “PCF”) with a value between 0.8 and 1.2 
for individual or all members of the Executive Board. In the event 
that the Supervisory Board does not determine a PCF for a mem-
ber of the Executive Board, the PCF value is 1.0. 
After the end of the fiscal year, the target achievement for each  
financial performance criterion is calculated on the basis of the  
audited consolidated financial statements of Continental AG, and the 
sum total of these financial performance criteria is multiplied by the 
STI target amount in accordance with the weighting described above. 
By multiplying this result by the PCF, the gross value of the STI 
amount to be paid (hereinafter “total gross amount”) is determined. 
 
Structure of the performance bonus (STI) 
 
1 A maximum of 200% of the target amount can be achieved. 
2 Net amount: from the net inflow of the performance bonus, shares of Continental AG with a value of 20% of the total gross amount of the performance bonus must be 
purchased and held for a period of three years; the corresponding gross amount was calculated assuming a tax and contribution ratio of 50% flat. 
The financial and non-financial performance criteria for the perfor-
mance bonus are intended to incentivize the members of the Exec-
utive Board to create value and to achieve or even exceed the short-
term economic goals as well as motivate them to attain operational 
excellence. The PCF also allows the Supervisory Board to take into 
account the individual or collective achievements of the Executive 
Board members, based on non-financial performance criteria and 
goals, that are decisive for the operational implementation of the 
corporate strategy. 
The performance bonus is intended firstly to reflect the overall  
responsibility for the company of the members of the Executive 
Board and promote collaboration among the group sectors, and 
secondly to provide independent leadership for the respective areas. 
When determining the targets and calculating the STI for each mem-
ber of the Executive Board, the respective business responsibility is 
therefore taken into account as follows: 
› For an Executive Board member whose area of responsibility  
covers the Continental Group as a whole – e.g. chief executive  
officer (CEO), chief financial officer (CFO), chief human relations 
officer (CHRO) – achievement of the EBIT and ROCE targets is 
measured based on the key figures determined for the Continen-
tal Group. For fiscal 2021, the performance bonus for the Executive 
Board member whose area of responsibility covered the Powertrain 
business area was also measured based on the key figures of the 
Continental Group due to the spin-off of this business area. 
› For an Executive Board member whose area of responsibility  
covers a group sector, achievement of the EBIT and ROCE targets 
is measured based on the key figures determined for the Conti-
nental Group and for the group sector (50% each). 
› For an Executive Board member whose area of responsibility  
covers the Autonomous Mobility and Safety (AMS) or Vehicle Net-
working and Information (VNI) business area, achievement of the 
EBIT and ROCE targets is measured based on the key figures de-
termined for the Continental Group (25%), for the Automotive 
Technologies group sector (25%) and for the respective business 
area (50%). 
› For an Executive Board member whose area of responsibility  
covers the ContiTech or Tires business area, achievement of the 
EBIT and ROCE targets is measured based on the key figures de-
termined for the Continental Group (50%) and for the respective 
business area (50%).

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
98
 
› The same applied in fiscal 2020 for the Executive Board member 
whose area of responsibility covered the Powertrain business 
area. 
› Achievement of the free cash flow target is measured for all Exec-
utive Board members based on free cash flow (FCF) for the Conti-
nental Group as a whole. 
 
Short-term incentive (STI) 
Consideration of business responsibility for financial performance criteria 
 
1 For the 2021 STI (“granted” in 2022), the measurement of target achievement for the Executive Board member responsible for Powertrain was also based solely on the 
Continental Group’s key figures due to the spin-off. 
2 For the 2021 STI (“granted” in 2022), this weighting was not applied because an Executive Board member with sole responsibility for one group sector was not appointed. 
Each member of the Executive Board is obligated to invest 20% of 
the total gross amount (generally corresponding to around 40% of 
the net payout amount) in shares of Continental AG. The remainder 
is paid out as short-term variable remuneration. 
Each member of the Executive Board is obligated to hold the shares 
legally and economically for a period of at least three years from 
the day of acquisition. The shares acquired as deferral can be 
counted toward the obligation of the Executive Board member  
to acquire shares of Continental AG in accordance with the share 
ownership guideline presented in Section 3. 
b) Long-term incentive (LTI) 
The long-term incentive (hereinafter “LTI”) is intended to promote 
the long-term commitment of the Executive Board to the company 
and its sustainable growth. Therefore, the long-term total share-
holder return (hereinafter “TSR”) of Continental shares, compared 
with an index consisting of European companies that are active in 
the automotive and tire industry and comparable with Continen-
tal AG (STOXX Europe 600 Automobiles & Parts (SXAGR); hereinaf-
ter “benchmark index”), is a key performance criterion for the LTI. 
The second performance criterion is a sustainability score that is 
multiplied by the degree of target achievement in order to calcu-
late the LTI to be paid. The amount of the LTI to be paid is based on 
the performance of the Continental share price over the term of the 
LTI. 
Each LTI has a term of four fiscal years. In the service agreement, 
the Supervisory Board agrees to an allotment value in euros for the 
LTI with each member of the Executive Board. At the start of the 
first fiscal year of the term of the LTI plan, this allotment value is 
converted into a basic holding of virtual shares. The allotment 
value is divided by the arithmetic mean of Continental AG’s closing 
share prices in Xetra trading on the Frankfurt Stock Exchange (or a 
successor system) in the last two months prior to the start of the 
term of the respective LTI plan (issue price). 
The maximum amount of the LTI to be paid is limited to 200% of 
the allotment value, which is set out in the service agreement for 
the respective member of the Executive Board.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
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For the calculation of the relative TSR, after the four-year term of  
the LTI plan, the TSR on Continental shares (hereinafter “Continental 
TSR”) is compared with the performance of the benchmark index 
over this time period. 
If the Continental TSR corresponds to the benchmark TSR, the TSR 
target is 100% achieved. If the Continental TSR falls short of the 
benchmark TSR by 25 percentage points or more, the target 
achievement is 0%. If the Continental TSR exceeds the benchmark 
TSR by 25 percentage points or more, the target achievement is 
150%. If the Continental TSR falls short of, or exceeds, the bench-
mark TSR by fewer than 25 percentage points, the degree to which 
the targets are achieved is calculated on a straight-line basis be-
tween 50% and 150%. A target achievement of more than 150%  
in the Continental TSR performance criterion is excluded. 
The Supervisory Board sets out appropriate provisions in the event 
of changes to Continental’s share capital, the listing of the Conti-
nental share or the benchmark index that have a substantial im-
pact on the Continental TSR or the benchmark TSR. 
The Executive Board of Continental AG adopted a sustainability 
strategy in fiscal 2019, which the Supervisory Board also inte-
grated into the remuneration system. This sustainability strategy 
defined 12 material topics: climate protection, clean mobility, circu-
lar economy, sustainable supply chains, green and safe factories, 
good working conditions, product quality, corporate governance, 
innovation & digitalization, safe mobility, long-term profitability, and 
corporate citizenship. From these, the Executive Board identified 
the following strategic focus areas: 
› Climate protection 
› Clean mobility 
› Circular economy 
› Sustainable supply chains 
 
On this basis, the Supervisory Board set out up to six performance 
criteria and targets for the sustainability score of the respective LTI 
plan. These can be targets for CO2 emissions and recycling quotas 
or the review of good working conditions for employees in the 
Continental Group (e.g. based on sick leave or accident rates). 
The Supervisory Board determines the extent of the target achieve-
ment based on the audited consolidated financial statements and 
the non-financial statement of the Continental Group for the fourth 
fiscal year of the term of the LTI plan. For the calculation of the sus-
tainability score, to the value of 0.7 for each target that has been 
achieved, a value is added that is determined by dividing 0.6 by  
the number of determined performance criteria. The sustainability 
score can be no higher than 1.3. 
For the calculation of the LTI to be paid out, the relative TSR and 
the sustainability score for the performance index are first multi-
plied together. By multiplying the basic holding of virtual shares 
with the performance index, this results in the final holding of vir-
tual shares. 
The final holding of virtual shares is multiplied by the payout ratio 
in order to determine the gross amount of the LTI to be paid out in 
euros (hereinafter “payout amount”). The payout ratio is the sum of 
the arithmetic mean of Continental AG’s closing share prices in 
Xetra trading on the Frankfurt Stock Exchange (or a successor sys-
tem) on the trading days in the last two months prior to the next 
ordinary Annual Shareholders’ Meeting that follows the end of the 
term of the LTI plan and the dividends paid out per share during 
the term of the LTI plan. 
 
Structure of the 2021 long-term incentive (2021-2024 LTI) 
 
 
3. Share ownership guideline 
In addition to the remuneration components already mentioned, 
each member of the Executive Board is required to invest a mini-
mum amount in Continental AG shares and to hold these shares 
during their term of office plus an additional two years after the 
end of their appointment and the end of their service agreement. 
The minimum amount to be invested by each member of the Exec-
utive Board is based on their agreed gross fixed annual salary. It 
amounts to 200% of the fixed annual salary of the chief executive 
officer and 100% of the fixed annual salary of all other members of 
the Executive Board. Executive Board members have four years to 
accumulate their shares. 
For the duration of the mandatory holding period, a member of the 
Executive Board may neither pledge Continental shares acquired in 
accordance with the share ownership guideline nor otherwise hold 
them.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
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Remuneration System Prior to December 31, 2019 
The remuneration system in place until December 31, 2019, (here-
inafter “2019 remuneration system”) continued to have an impact 
in the reporting year on the remuneration of both active and for-
mer members of the Executive Board, in particular in relation to the 
long-term incentive (hereinafter “LTI”) and the virtual equity deferral 
granted until the end of 2019. In addition, the remuneration of Dr. 
Elmar Degenhart was based on the 2019 remuneration system un-
til he left the Executive Board of Continental AG on November 30, 
2020. The presentation of the 2019 remuneration system is there-
fore limited to the relevant remuneration components. 
Variable remuneration elements 
The Executive Board members also received variable remuneration 
in the form of a performance bonus and a share-based LTI. A key 
criterion for measuring variable remuneration was the Continental 
Value Contribution (hereinafter “CVC”). The CVC represents the ab-
solute amount of additional value created. The delta CVC repre-
sents the change in absolute value creation compared to the prior 
year. The CVC is measured by subtracting the weighted average 
cost of capital (hereinafter “WACC”) from the return on capital em-
ployed (hereinafter “ROCE”) and multiplying this by the average op-
erating assets for the fiscal year. The WACC calculated corresponds 
to the required minimum return. The cost of capital is calculated as 
the weighted average ratio of the cost of equity and borrowing costs. 
The return on capital employed (ROCE) is defined as the ratio of 
EBIT to average operating assets for the fiscal year. The ROCE cor-
responds to the rate of return on the capital employed and is used 
to assess profitability and efficiency. 
a) Performance bonus 
The performance bonus was based on a target amount that the  
Supervisory Board determined for each Executive Board member 
for 100% target achievement. Target criteria were the year-on-year 
change in the CVC and the return on capital employed (ROCE). For 
Executive Board members with responsibility for a particular busi-
ness area, these criteria related to the relevant business area; for 
other Executive Board members, they related to the Continental 
Group. The CVC target was 100% achieved if the CVC was un-
changed compared to the previous year. If the CVC fell or rose by a 
defined percentage, this element was reduced to zero or reached a 
maximum of 150%. In the case of a negative CVC in the previous 
year, target achievement was based on the degree of improvement. 
The criteria for the ROCE target were guided by planning targets. 
This component could also be omitted if a certain minimum value 
was not achieved. 
The CVC target was weighted at 60% and the ROCE target at 40% 
in the calculation of the performance bonus. In any event, the per-
formance bonus was capped at 150% of the target bonus. 
The performance bonus achieved in a fiscal year was divided into a 
lump sum, which was paid out as an annual bonus (immediate pay-
ment), and a deferred payment (hereinafter “deferral”). The immedi-
ate payment amounted to 60% and the deferral 40% of the total 
gross amount. The deferral was converted into virtual shares of 
Continental AG. Following a holding period of three years after the 
end of the fiscal year for which the respective performance bonus 
was determined, the value of these virtual shares was paid out to-
gether with the value of the dividends that were distributed for the 
fiscal years of the holding period. The conversion of the deferral 
into virtual shares and payment of their value after the holding pe-
riod were based on the average share price for the three-month pe-
riod immediately preceding the Annual Shareholders’ Meeting in 
the year of conversion or payment. The possible increase in the 
value of the deferral was capped at 250% of the initial value. Future 
payments of the value of deferrals will still be made under the 2019 
remuneration system, provided the three-year holding period for 
the virtual shares has expired. 
b) Long-term incentive (LTI) 
The LTI plan was resolved by the Supervisory Board on an annual 
basis with a term of four years in each case. It determined the tar-
get bonus to be paid for 100% target achievement for each Execu-
tive Board member, taking into account the Continental Group’s 
earnings and the member’s individual performance. 
The first criterion for target achievement was the average CVC that 
the Continental Group actually generated in the four fiscal years 
during the term, starting with the fiscal year in which the tranche 
was issued. This value was compared to the average CVC, which 
was set in the strategic plan for the respective period. The degree 
to which this target was achieved could vary between 0% and a 
maximum of 200%. The other target criterion was the total share-
holder return (hereinafter “TSR”) on Continental shares during the 
term of the tranche. To determine the TSR, the average price of the 
Continental share in the months from October to December was 
set prior to the beginning and at the end of the respective LTI 
tranche. In addition, all dividends paid during the term of the LTI 
tranche were taken into account for the TSR. The degree to which 
the TSR was achieved was multiplied by the degree to which the 
CVC target was achieved to determine the degree of target 
achievement on which the LTI that would actually be paid after the 
end of the term was based. The maximum payout amount was 
capped at 200% of the target bonus. 
Future payments of the LTI tranches issued may still be made  
under the 2019 remuneration system. 
Individual Remuneration of the Members of the Executive 
Board in Fiscal 2021 
The tables below show the remuneration granted and owed to the 
individual members of the Executive Board based on the new re-
quirements for the disclosure of fixed and variable remuneration 
components in accordance with Section 162 (1) Sentence 2 No. 1 
AktG. Accordingly, remuneration is deemed to have been granted  
if it was actually paid to the Executive Board member in the past 
fiscal year, regardless of whether individual remuneration compo-
nents relate to the past fiscal year. Remuneration owed refers to re-
muneration that is due in a fiscal year but has not yet been paid.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
101
 
This means for this remuneration report that the performance bo-
nus (short-term incentive, STI) for fiscal 2021 as well as the 2018–
2021 LTI, both of which will be paid out in fiscal 2022, are to be 
classified as remuneration granted for fiscal 2022 and will there-
fore be the subject of the remuneration report for the coming re-
porting year. In addition, the remuneration components earned in 
the past fiscal year are presented individually as a voluntary disclo-
sure. Remuneration components are deemed to have been earned 
for the purposes of this presentation if they – similarly to the perfor-
mance bonus for fiscal 2021 and the 2018–2021 LTI – relate to 
the past fiscal year but were not yet paid to the Executive Board 
member in the past fiscal year: 
Presentation of the fixed and variable remuneration components of individual active members of the Executive Board in fiscal 
2021 (Section 162 (1) Sentence 2 No. 1 AktG) 
 
Service agreement commitments/ 
target amounts 
Granted and owed2 
as defined in Section 162 (1) 
Sentence 1 AktG 
Earned3 
In € thousands 
20211 
Relative 
share 
in % 
2021 
(min.) 
2021 
(max.) 
20201 
2021 
Relative 
share 
in % 
2020 
2021 
Relative 
share 
in % 
2020 
Nikolai Setzer 
Chairman of the Executive Board  
since December 1, 2020 
Member of the Executive Board  
since August 12, 2009 
  
  
  
  
  
  
  
  
  
  
  
Fixed remuneration 
1,450 
26.3 
1,450 
1,450 
828 
1,450 
78.6 
828 
1,450 
25.7 
828 
Additional benefits 
20 
0.3 
20 
20 
15 
20 
1.1 
15 
20 
0.3 
15 
Short-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (immediate payment) 
1,500 
27.2 
0 
3,000 
768 
84 
4.6 
209 
2,363 
41.9 
84 
Long-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (deferral) [from 2020]4 
1,000 
18.1 
0 
2,000 
512 
565 
3.0 
— 
1,5766 
27.9 
565 
Performance bonus (deferral) [until 2019]7 
— 
— 
— 
— 
— 
2358 
12.7 
2869 
2358 
4.2 
2869 
Long-term incentive 
1,550 
28.1 
0 
3,100 
847 
0 
0.0 
0 
0 
0.0 
0 
Total 
5,520 
  
1,470 
9,570 
2,970 
1,845 
  
1,338 
5,644 
  
1,269 
Severance payment 
— 
  
  
  
— 
— 
  
— 
— 
  
— 
Fixed/variable ratio in % 
26.6/73.4 
  
  
  
  
79.7/20.3 
  
  
26.0/74.0 
  
  
Total remuneration 
5,520 
100.0 
  
  
2,970 
1,845 
100.0 
1,338 
5,644 
100.0 
1,269 
Hans-Jürgen Duensing 
ContiTech 
Member of the Executive Board  
from May 1, 2015 to May 31, 2021 
  
  
  
  
  
  
  
  
  
  
  
Fixed remuneration 
333 
28.9 
333 
333 
773 
333 
37.6 
773 
333 
23.1 
773 
Additional benefits 
12 
1.0 
12 
12 
23 
12 
1.3 
23 
12 
0.8 
23 
Short-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (immediate payment) 
290 
25.2 
0 
580 
700 
140 
15.8 
126 
475 
32.9 
140 
Long-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (deferral) [from 2020]4 
193 
16.8 
0 
386 
467 
935 
10.5 
— 
3176 
21.9 
935 
Performance bonus (deferral) [until 2019]7 
— 
— 
— 
— 
— 
3088 
34.8 
3129 
3088 
21.3 
3129 
Long-term incentive 
324 
28.1 
0 
652 
783 
0 
0.0 
0 
0 
0.0 
0 
Total 
1,152 
  
345 
1,963 
2,746 
886 
  
1,234 
1,445 
  
1,341 
Severance payment 
— 
  
  
  
— 
— 
  
— 
— 
  
— 
Fixed/variable ratio in % 
29.9/70.1 
  
  
  
  
38.9/61.1 
  
  
23.9/76.1 
  
  
Total remuneration 
1,152 
100.0 
  
  
2,746 
886 
100.0 
1,234 
1,445 
100.0 
1,341

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
102
 
 
Service agreement commitments/ 
target amounts 
Granted and owed2 
as defined in Section 162 (1) 
Sentence 1 AktG 
Earned3 
In € thousands 
20211 
Relative 
share 
in % 
2021 
(min.) 
2021 
(max.) 
20201 
2021 
Relative 
share 
in % 
2020 
2021 
Relative 
share 
in % 
2020 
Katja Dürrfeld 
Group Finance and Controlling and Group IT 
Member of the Executive Board  
since December 14, 2021 
  
  
  
  
  
  
  
  
  
  
  
Fixed remuneration 
40 
29.0 
40 
40 
— 
40 
97.6 
— 
40 
30.3 
— 
Additional benefits 
1 
0.7 
1 
1 
— 
1 
2.4 
— 
1 
0.8 
— 
Short-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (immediate payment) 
35 
25.4 
0 
70 
— 
— 
— 
— 
55 
41.7 
— 
Long-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (deferral) [from 2020]4 
23 
16.7 
0 
46 
— 
— 
— 
— 
366 
27.2 
— 
Performance bonus (deferral) [until 2019]7 
— 
— 
— 
— 
— 
— 
— 
— 
— 
— 
— 
Long-term incentive 
39 
28.2 
0 
78 
— 
— 
— 
— 
— 
— 
— 
Total 
138 
  
41 
235 
— 
41 
  
— 
132 
  
— 
Severance payment 
— 
  
  
  
— 
— 
  
— 
— 
  
— 
Fixed/variable ratio in % 
29.7/70.3 
  
  
  
  
100.0/0.0 
  
  
31.1/68.9 
  
  
Total remuneration 
138 
100.0 
  
  
— 
41 
100.0 
— 
132 
100.0 
— 
Frank Jourdan 
Autonomous Mobility and Safety (AMS) 
Member of the Executive Board  
from September 25, 2013 to December 31, 2021 
  
  
  
  
  
  
  
  
  
  
  
Fixed remuneration 
800 
13.8 
800 
800 
773 
800 
18.3 
773 
800 
16.1 
733 
Additional benefits 
34 
0.6 
34 
34 
29 
34 
0.8 
29 
34 
0.7 
29 
Short-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (immediate payment) 
700 
12.0 
0 
1,400 
700 
76 
1.7 
126 
436 
8.8 
76 
Long-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (deferral) [from 2020]4 
467 
8.0 
0 
934 
467 
515 
1.2 
— 
2916 
5.8 
515 
Performance bonus (deferral) [until 2019]7 
— 
— 
— 
— 
— 
3908 
8.9 
989 
3908 
7.8 
989 
Long-term incentive 
783 
13.5 
0 
1,566 
783 
0 
0.0 
0 
0 
0.0 
0 
Total 
2,784 
  
834 
4,734 
2,752 
1,351 
  
1,026 
1,951 
  
987 
Severance payment 
3,028 
52.1 
  
  
— 
3,028 
69.1 
— 
3,028 
60.8 
— 
Fixed/variable ratio in % 
66.5/33.5 
  
  
  
  
88.2/11.8 
  
  
77.6/22.4 
  
  
Total remuneration 
5,812 
100.0 
  
  
2,752 
4,379 
100.0 
1,026 
4,979 
100.0 
987 
Christian Kötz 
Tires 
Member of the Executive Board since April 1, 2019 
  
  
  
  
  
  
  
  
  
  
  
Fixed remuneration 
800 
28.9 
800 
800 
773 
800 
83.8 
773 
800 
29.2 
733 
Additional benefits 
23 
0.8 
23 
23 
17 
23 
2.4 
17 
23 
0.8 
17 
Short-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (immediate payment) 
700 
25.2 
0 
1,400 
700 
79 
8.3 
348 
1,149 
42.0 
79 
Long-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (deferral) [from 2020]4 
467 
16.8 
0 
934 
467 
535 
5.5 
— 
7656 
28.0 
535 
Performance bonus (deferral) [until 2019]7 
— 
— 
— 
— 
— 
— 
— 
— 
— 
— 
— 
Long-term incentive 
783 
28.3 
0 
1,566 
783 
— 
— 
— 
— 
— 
— 
Total 
2,773 
  
823 
4,723 
2,740 
955 
  
1,138 
2,737 
  
882 
Severance payment 
— 
  
  
  
— 
— 
  
— 
— 
  
— 
Fixed/variable ratio in % 
29.7/70.3 
  
  
  
  
86.2/13.8 
  
  
30.0/70.0 
  
  
Total remuneration 
2,773 
100.0 
  
  
2,740 
955 
100.0 
1,138 
2,737 
100.0 
882

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
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Service agreement commitments/ 
target amounts 
Granted and owed2 
as defined in Section 162 (1) 
Sentence 1 AktG 
Earned3 
In € thousands 
20211 
Relative 
share 
in % 
2021 
(min.) 
2021 
(max.) 
20201 
2021 
Relative 
share 
in % 
2020 
2021 
Relative 
share 
in % 
2020 
Helmut Matschi 
Vehicle Networking and Information (VNI) 
Member of the Executive Board  
from August 12, 2009 to December 31, 2021 
  
  
  
  
  
  
  
  
  
  
  
Fixed remuneration 
800 
11.6 
800 
800 
773 
800 
13.6 
773 
800 
13.3 
733 
Additional benefits 
24 
0.4 
24 
24 
18 
24 
0.4 
18 
24 
0.4 
18 
Short-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (immediate payment) 
700 
10.1 
0 
1,400 
700 
76 
1.3 
126 
436 
7.2 
76 
Long-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (deferral) [from 2020]4 
467 
6.8 
0 
934 
467 
515 
8.7 
— 
2916 
4.8 
515 
Performance bonus (deferral) [until 2019]7 
— 
— 
— 
— 
— 
3368 
5.7 
919 
3368 
5.6 
919 
Long-term incentive 
783 
11.3 
0 
1,566 
783 
0 
0.0 
0 
0 
0.0 
0 
Total 
2,774 
  
824 
4,724 
2,741 
1,751 
  
1,008 
1,887 
  
969 
Severance payment 
4,135 
59.8 
  
  
— 
4,135 
70.3 
— 
4,135 
68.7 
— 
Fixed/variable ratio in % 
71.8/28.2 
  
  
  
  
84.3/15.7 
  
  
82.4/17.6 
  
  
Total remuneration 
6,909 
100.0 
  
  
2,741 
5,886 
100.0 
1,008 
6,022 
100.0 
969 
Philip Nelles 
ContiTech 
Member of the Executive Board since June 1, 2021 
  
  
  
  
  
  
  
  
  
  
  
Fixed remuneration 
467 
28.8 
467 
467 
— 
467 
97.9 
0 
467 
29.2 
— 
Additional benefits 
10 
0.6 
10 
10 
— 
10 
2.1 
0 
10 
0.6 
— 
Short-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (immediate payment) 
411 
25.4 
0 
822 
— 
— 
— 
— 
674 
42.1 
— 
Long-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (deferral) [from 2020]4 
274 
16.9 
0 
548 
— 
— 
— 
— 
4496 
28.1 
— 
Performance bonus (deferral) [until 2019]7 
— 
— 
— 
— 
— 
— 
— 
— 
— 
— 
— 
Long-term incentive 
459 
28.3 
0 
918 
— 
— 
— 
— 
— 
— 
— 
Total 
1,621 
  
477 
2,765 
— 
477 
  
— 
1,600 
  
— 
Severance payment 
— 
  
  
  
— 
— 
  
— 
— 
  
— 
Fixed/variable ratio in % 
29.4/70.6 
  
  
  
  
100.0/0.0 
  
  
29.8/70.2 
  
  
Total remuneration 
1,621 
100.0 
  
  
— 
477 
100.0 
— 
1,600 
100.0 
— 
Dr. Ariane Reinhart 
Group Human Relations and Sustainability 
Member of the Executive Board  
since October 1, 2014 
  
  
  
  
  
  
  
  
  
  
  
Fixed remuneration 
1,100 
34.7 
1,100 
1,100 
1,063 
1,100 
68.6 
1,063 
1,100 
33.2 
1,063 
Additional benefits 
13 
0.4 
13 
13 
14 
13 
0.8 
14 
13 
0.4 
14 
Short-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (immediate payment) 
700 
22.1 
0 
1,400 
700 
76 
4.7 
126 
1,103 
33.3 
76 
Long-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (deferral) [from 2020]4 
467 
14.7 
0 
934 
467 
515 
3.2 
— 
7356 
22.1 
515 
Performance bonus (deferral) [until 2019]7 
— 
— 
— 
— 
— 
3648 
22.7 
2399 
3648 
11.0 
2399 
Long-term incentive 
893 
28.1 
0 
1,786 
893 
0 
0.0 
0 
0 
0.0 
0 
Total 
3,173 
  
1,113 
5,233 
3,137 
1,604 
  
1,442 
3,315 
  
1,443 
Severance payment 
— 
  
  
  
— 
— 
  
— 
— 
  
— 
Fixed/variable ratio in % 
35.1/64.9 
  
  
  
  
69.4/30.6 
  
  
33.6/66.4 
  
  
Total remuneration 
3,173 
100.0 
  
  
3,137 
1,604 
100.0 
1,442 
3,315 
100.0 
1,443

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
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Service agreement commitments/ 
target amounts 
Granted and owed2 
as defined in Section 162 (1) 
Sentence 1 AktG 
Earned3 
In € thousands 
20211 
Relative 
share 
in % 
2021 
(min.) 
2021 
(max.) 
20201 
2021 
Relative 
share 
in % 
2020 
2021 
Relative 
share 
in % 
2020 
Wolfgang Schäfer 
Group Finance and Controlling and Group IT 
Member of the Executive Board  
from January 1, 2010 to November 17, 2021 
  
  
  
  
  
  
  
  
  
  
  
Fixed remuneration 
969 
34.6 
969 
969 
1,063 
969 
65.5 
1,063 
969 
32.6 
1,063 
Additional benefits 
20 
0.7 
20 
20 
17 
20 
1.4 
17 
20 
0.7 
17 
Short-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (immediate payment) 
616 
22.0 
0 
1,232 
700 
76 
5.1 
126 
970 
32.7 
76 
Long-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (deferral) [from 2020]4 
411 
14.7 
0 
822 
467 
515 
3.4 
— 
6476 
21.8 
515 
Performance bonus (deferral) [until 2019]7 
— 
— 
— 
— 
— 
3648 
24.6 
2399 
3648 
12.2 
2399 
Long-term incentive 
785 
28.0 
0 
1,570 
893 
0 
0.0 
0 
0 
0.0 
0 
Total 
2,801 
  
989 
4,613 
3,140 
1,480 
  
1,445 
2,970 
  
1,446 
Severance payment 
— 
  
  
  
— 
— 
  
— 
— 
  
— 
Fixed/variable ratio in % 
35.3/64.7 
  
  
  
  
66.9/33.1 
  
  
33.3/66.7 
  
  
Total remuneration 
2,801 
100.0 
  
  
3,140 
1,480 
100.0 
1,445 
2,970 
100.0 
1,446 
Andreas Wolf 
Powertrain 
Member of the Executive Board  
from June 3, 2020 to September 15, 2021 
  
  
  
  
  
  
  
  
  
  
  
Fixed remuneration 
567 
29.0 
567 
567 
448 
567 
64.5 
448 
567 
30.2 
448 
Additional benefits 
12 
0.6 
12 
12 
8 
12 
1.4 
8 
12 
0.6 
8 
Short-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (immediate payment) 
495 
25.3 
0 
990 
406 
180 
20.4 
— 
780 
41.5 
180 
Long-term variable remuneration 
  
  
  
  
  
  
  
  
  
  
  
Performance bonus (deferral) [from 2020]4 
330 
16.9 
0 
660 
270 
1205 
13.7 
— 
5206 
27.7 
1205 
Performance bonus (deferral) [until 2019]7 
— 
— 
— 
— 
— 
— 
— 
— 
— 
— 
— 
Long-term incentive 
553 
28.2 
0 
1,206 
454 
— 
— 
— 
— 
— 
— 
Total 
1,957 
  
579 
3,435 
1,586 
879 
  
456 
1,879 
  
756 
Severance payment 
— 
  
  
  
— 
— 
  
— 
— 
  
— 
Fixed/variable ratio in % 
29.6/70.4 
  
  
  
  
65.9/34.1 
  
  
30.8/69.2 
  
  
Total remuneration 
1,957 
100.0 
  
  
1,586 
879 
100.0 
456 
1,879 
100.0 
756 
 
 
 
 
 
 
 
 
 
 
 
 
1 The performance bonus (immediate payment) and performance bonus (deferral) [from 2020] as well as the long-term incentive based on 100% target achievement. 
2 There are no remuneration elements owed as defined in Section 162 (1) Sentence 1 AktG, i.e. due but not yet paid. 
3 Voluntary disclosure – earned in terms of the remuneration to be paid for the respective fiscal year, whereby the variable elements of performance bonus (immediate payment) 
and (deferral) as well as the LTI are paid out only in fiscal year n+1. 
4 From the net inflow of the performance bonus, shares of Continental AG with a value of 20% of the total gross amount must be purchased and held for a period of three years; 
the corresponding gross amount was calculated assuming a tax and contribution ratio of 50% flat. 
5 Equity deferral from the 2020 performance bonus. 
6 Equity deferral from the 2021 performance bonus. 
7 Based on the 2019 remuneration system; settlement and payment of the virtual shares of the deferral. 
 
8 Equity deferral from the 2017 performance bonus. 
9 Equity deferral from the 2016 performance bonus.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
105
 
Presentation of the granted remuneration of individual former members of the Executive Board in fiscal 2021 (Section 162 (1) 
and (2) AktG) 
 
Fixed remuneration 
Additional benefits 
Variable remuneration 
Benefit payments 
Other benefits1 
Total 
remuner 
ation 
 
in € 
thousands 
Relative 
share 
in % 
in € 
thousands 
Relative 
share 
in % 
in € 
thousands 
Relative 
share 
in % 
in € 
thousands 
Relative 
share 
in % 
in € 
thousands 
Relative 
share 
in % 
in € 
thousands 
Wolfgang Schäfer2 
(until November 17, 2021) 
40 
100.0 
— 
— 
— 
— 
— 
— 
— 
— 
40 
Andreas Wolf  
(until September 15, 2021) 
— 
— 
— 
— 
— 
— 
— 
— 
— 
— 
— 
Hans-Jürgen Duensing3 
(until May 31, 2021) 
133 
32.7 
6 
1.5 
— 
— 
— 
— 
268 
65.8 
407 
Dr. Elmar Degenhart 
(until November 30, 2020) 
— 
— 
— 
— 
7804 
42.7 
— 
— 
1,047 
57.3 
1,827 
José A. Avila 
(until September 30, 2018) 
— 
— 
— 
— 
3904 
32.7 
— 
— 
803 
67.3 
1,193 
Dr. Ralf Cramer 
(until August 11, 2017) 
— 
— 
2 
1.0 
2224 
105.7 
— 
— 
–14 
–6.7 
210 
Heinz-Gerhard Wente 
(until April 30, 2015) 
— 
— 
— 
— 
— 
— 
408 
100.0 
— 
— 
408 
 
 
 
 
 
 
 
 
 
 
 
 
1 Other benefits in fiscal 2021 include only the granting of compensation for non-competition. 
2 Resignation as at November 17, 2021; end of service agreement as at January 31, 2022. 
3 Resignation as at May 31, 2021; end of service agreement as at July 31, 2021. 
4 Equity deferral from the 2017 performance bonus. 
Target criteria, degree of achievement and target achievement of the performance bonus granted in the past fiscal year for 
fiscal 2020 in accordance with Section 162 (1) Sentence 2 No. 1 AktG 
 
Degree of achievement 
Target achievement 
Target criteria 2020 
0% 
100% 
200% 
Result 2020 
in % 
EBIT in € thousands 
  
  
  
  
  
Continental Group 
975 
1,393 
1,811 
–231 
0.0 
Automotive group sector 
397 
567 
737 
–948 
0.0 
AMS business area 
344 
491 
638 
–98 
0.0 
VNI business area 
53 
76 
99 
–849 
0.0 
Tires business area 
1,005 
1,435 
1,866 
1,013 
1.9 
ContiTech business area 
233 
336 
434 
257 
23.1 
Powertrain business area 
–627 
–482 
–337 
–460 
115.6 
ROCE in % 
  
  
  
  
  
Continental Group 
2.6 
5.6 
8.6 
–1.0 
0.0 
Automotive group sector 
2.6 
5.6 
8.6 
–10.7 
0.0 
AMS business area 
6.6 
9.6 
12.6 
–2.1 
0.0 
VNI business area 
–1.5 
1.5 
4.5 
–20.2 
0.0 
Tires business area 
15.2 
18.2 
21.2 
14.3 
0.0 
ContiTech business area 
6.9 
9.9 
12.9 
7.8 
30.0 
Powertrain business area 
–16.5 
–13.5 
–10.5 
–14.4 
70.0 
Free cash flow in € thousands 
  
  
  
  
  
Continental Group 
559 
798 
1,038 
646 
36.3

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
106
 
Individual weighting and target achievement of the 2020 performance bonus of active members of the Executive Board in 
fiscal 2020 
Target achievement 2020 
(“granted” in 2021) 
Continental Group 
Automotive  
group sector 
Business area 
PCF 
STI target 
amount 
Total 
target 
achievement 
Total 
amount 
Weighting in % 
EBIT 
ROCE 
FCF 
EBIT 
ROCE 
EBIT 
ROCE 
  
in € 
thousands 
in % 
in € 
thousands 
Members of the Executive Board in 2020 
  
  
  
  
  
  
  
  
  
  
  
Nikolai Setzer  
Chairman of the Executive Board  
(since December 1, 2020) 
40.0 
30.0 
30.0 
— 
— 
— 
— 
1.0 
212 
10.9 
23 
Nikolai Setzer  
Automotive Board  
(until November 30, 2020) 
20.0 
15.0 
30.0 
20.0 
15.0 
— 
— 
1.0 
1,068 
10.9 
116 
Hans-Jürgen Duensing  
ContiTech 
20.0 
15.0 
30.0 
  
  
20.0 
15.0 
1.0 
1,167 
20.0 
234 
Frank Jourdan 
AMS 
10.0 
7.5 
30.0 
10.0 
7.5 
20.0 
15.0 
1.0 
1,167 
10.9 
127 
Christian Kötz 
Tires 
20.0 
15.0 
30.0 
— 
— 
20.0 
15.0 
1.0 
1,167 
11.3 
132 
Helmut Matschi 
VNI 
10.0 
7.5 
30.0 
10.0 
7.5 
20.0 
15.0 
1.0 
1,167 
10.9 
127 
Dr. Ariane Reinhart 
Group Human Relations and Sustainability 
40.0 
30.0 
30.0 
— 
— 
— 
— 
1.0 
1,167 
10.9 
127 
Wolfgang Schäfer  
Group Finance and Controlling and Group IT 
40.0 
30.0 
30.0 
— 
— 
— 
— 
1.0 
1,167 
10.9 
127 
Andreas Wolf 
Powertrain (since June 3, 2020) 
20.0 
15.0 
30.0 
— 
— 
20.0 
15.0 
1.0 
678 
44.5 
301 
 
 
 
 
 
 
 
 
 
 
 
 
 
The Supervisory Board did not set any targets for the PCF for any 
of the Executive Board members for fiscal 2020. As a result, the 
value of the PCF is 1.0.  
As the performance bonus for Dr. Elmar Degenhart was still based 
on the 2019 remuneration system, the CVC target criterion was 
used exclusively to measure target achievement (see aforemen-
tioned description of the 2019 remuneration system). As the CVC 
in fiscal 2020 did not improve compared with fiscal 2019, the tar-
get achievement was zero and a performance bonus for fiscal 
2020 was not paid.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
107
 
Target criteria, degree of achievement and target achievement of the performance bonus earned in the past fiscal year for 
fiscal 2021 (voluntary disclosure) 
 
Degree of achievement 
Target achievement 
Target criteria 2021 
0% 
100% 
200% 
Result 2021 
in % 
EBIT in € thousands 
  
  
  
  
  
Continental Group 
722 
1,031 
1,341 
1,344 
200.0 
Automotive group sector 
57 
82 
107 
–408 
0.0 
AMS business area 
120 
172 
223 
–128 
0.0 
VNI business area 
–206 
–86 
34 
–280 
0.0 
Tires business area 
847 
1,210 
1,573 
1,701 
200.0 
ContiTech business area 
191 
273 
355 
359 
200.0 
ROCE in % 
  
  
  
  
  
Continental Group 
1.6 
4.6 
7.6 
6.3 
156.7 
Automotive group sector 
–2.1 
0.9 
3.9 
–5.0 
0.0 
AMS business area 
0.5 
3.5 
6.5 
–2.8 
0.0 
VNI business area 
–5.2 
–2.2 
0.8 
–7.7 
0.0 
Tires business area 
14.1 
17.1 
20.1 
25.7 
200.0 
ContiTech business area 
5.7 
8.7 
11.7 
11.7 
200.0 
Free cash flow in € thousands 
  
  
  
  
  
Continental Group 
1,089 
1,555 
2,022 
1,564 
101.8 
 
 
 
 
 
 
 
Individual weighting and target achievement of the 2021 performance bonus of active members of the Executive Board in 
fiscal 2021 
Target achievement 2021 
(“earned” in 2021) 
Continental Group 
Automotive 
group sector 
Business area 
PCF 
STI target 
amount 
Total 
target 
achievement 
Total 
amount 
Weighting in % 
EBIT 
ROCE 
FCF 
EBIT 
ROCE 
EBIT 
ROCE 
  
in € 
thousands 
in % 
in € 
 thousands 
Members of the Executive Board in 2021 
  
  
  
  
  
  
  
  
  
  
  
Nikolai Setzer 
Chairman of the Executive Board 
40.0 
30.0 
30.0 
— 
— 
— 
— 
1.0 
2,500 
157.6 
3,939 
Hans-Jürgen Duensing 
ContiTech (until May 31, 2021) 
20.0 
15.0 
30.0 
— 
— 
20.0 
15.0 
1.0 
483 
164.1 
792 
Katja Dürrfeld 
Group Finance and Controlling and Group IT 
(since December 14, 2021) 
40.0 
30.0 
30.0 
— 
— 
— 
— 
1.0 
58 
157.6 
91 
Frank Jourdan 
AMS 
10.0 
7.5 
30.0 
10.0 
7.5 
20.0 
15.0 
1.0 
1,167 
62.3 
727 
Christian Kötz 
Tires 
20.0 
15.0 
30.0 
— 
— 
20.0 
15.0 
1.0 
1,167 
164.1 
1,914 
Helmut Matschi 
VNI 
10.0 
7.5 
30.0 
10.0 
7.5 
20.0 
15.0 
1.0 
1,167 
62.3 
727 
Philip Nelles 
ContiTech (since June 1, 2021) 
20.0 
15.0 
30.0 
— 
— 
20.0 
15.0 
1.0 
684 
165.0 
1,122 
Dr. Ariane Reinhart 
Group Human Relations and Sustainability 
40.0 
30.0 
30.0 
— 
— 
— 
— 
1.0 
1,167 
157.6 
1,837 
Wolfgang Schäfer 
Group Finance and Controlling and Group IT 
(until November 17, 2021) 
40.0 
30.0 
30.0 
— 
— 
— 
— 
1.0 
1,026 
157.6 
1,617 
Andreas Wolf1  
Powertrain (until September 15, 2021) 
40.0 
30.0 
30.0 
— 
— 
— 
— 
1.0 
825 
157.6 
1,300 
 
 
 
 
 
 
 
 
 
 
 
 
1 Andreas Wolf will be measured only against the targets of the Continental Group due to the spin-off of Vitesco Technologies in fiscal 2021.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
108
 
The Supervisory Board did not set any targets for the PCF for any 
of the Executive Board members for fiscal 2021. As a result, the 
value of the PCF is 1.0. 
2017–2020 long-term incentive 
The target value of the CVC for the 2017–2020 LTI tranche 
(granted in 2021), which was paid out in fiscal 2021, was €2.53 bil-
lion based on 100% target achievement. If the actual value of the 
CVC fell short of the target value for the CVC by 50% or more, the 
target achievement for the CVC target criterion was 0%. If the ac- 
tual value of the CVC exceeded the target value for the CVC by 
50% or more, the target achievement for the CVC target criterion 
was 200%. Intermediate values were calculated on a straight-line 
basis. 
The initial share price used to determine the TSR was €174.99, and 
the final share price was €107.08. In addition, all dividends paid 
during the term of the LTI tranche were taken into account for the 
TSR. The dividends amounted to €4.25 in 2017, €4.50 in 2018, 
€4.75 in 2019 and €3.00 in 2020. 
 
 
Allotment value 
2017–2020 LTI 
Target criterion 1 
CVC 
Target criterion 2 
TSR 
Total target 
achievement 
Total 
amount 
Members of the Executive Board in 2021 
in € thousands 
in % 
in % 
in % 
in € thousands 
Nikolai Setzer 
783 
0.0 
70.6 
0.0 
0 
Hans-Jürgen Duensing (until May 31, 2021) 
783 
0.0 
70.6 
0.0 
0 
Katja Dürrfeld (since December 14, 2021) 
— 
— 
— 
— 
— 
Frank Jourdan 
783 
0.0 
70.6 
0.0 
0 
Christian Kötz 
— 
— 
— 
— 
— 
Helmut Matschi 
783 
0.0 
70.6 
0.0 
0 
Philip Nelles (since June 1, 2021) 
— 
— 
— 
— 
— 
Dr. Ariane Reinhart 
783 
0.0 
70.6 
0.0 
0 
Wolfgang Schäfer (until November 17, 2021) 
893 
0.0 
70.6 
0.0 
0 
Andreas Wolf (until September 15, 2021) 
— 
— 
— 
— 
— 
  
  
  
  
  
  
Former members of the Executive Board 
  
  
  
  
  
Dr. Elmar Degenhart (until November 30, 2020) 
1,517 
0.0 
70.6 
0.0 
0 
José A. Avila (until September 30, 2018) 
342 
0.0 
70.6 
0.0 
0 
Dr. Ralf Cramer (until August 11, 2017) 
120 
0.0 
70.6 
0.0 
0 
 
 
 
 
 
 
 
2018–2021 long-term incentive 
The target value of the CVC for the 2018–2021 LTI tranche 
(earned in 2021), which will be paid out in fiscal 2022, was €2.63 
billion based on 100% target achievement. If the actual value of the 
CVC fell short of the target value for the CVC by 50% or more, the 
target achievement for the CVC target criterion was 0%. If the ac-
tual value of the CVC exceeded the target value for the CVC by 
50% or more, the target achievement for the CVC target criterion 
was 200%. Intermediate values were calculated on a straight-line 
basis. The initial share price used to determine the TSR was €218.92, 
and the closing price was €98.32. In addition, all dividends paid dur-
ing the term of the LTI tranche were taken into account for the TSR. 
The dividends amounted to €4.50 in 2018, €4.75 in 2019, €3.00 in 
2020 and €0.00 in 2021.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
109
 
 
Allotment value 
2018–2021 LTI 
Target criterion 1 
CVC 
Target criterion 2 
TSR 
Total target 
achievement 
Total 
amount 
Members of the Executive Board in 2021 
in € thousands 
in % 
in % 
in % 
in € thousands 
Nikolai Setzer 
783 
0.0 
50.5 
0.0 
0 
Hans-Jürgen Duensing (until May 31, 2021) 
667 
0.0 
50.5 
0.0 
0 
Katja Dürrfeld (since December 14, 2021) 
— 
— 
— 
— 
— 
Frank Jourdan 
783 
0.0 
50.5 
0.0 
0 
Christian Kötz 
— 
— 
— 
— 
— 
Helmut Matschi 
783 
0.0 
50.5 
0.0 
0 
Philip Nelles (since June 1, 2021) 
— 
— 
— 
— 
— 
Dr. Ariane Reinhart 
783 
0.0 
50.5 
0.0 
0 
Wolfgang Schäfer (until November 17, 2021) 
893 
0.0 
50.5 
0.0 
0 
Andreas Wolf (until September 15, 2021) 
— 
— 
— 
— 
— 
  
  
  
  
  
  
Former members of the Executive Board 
  
  
  
  
  
Dr. Elmar Degenhart (until November 30, 2020) 
1,130 
0.0 
50.5 
0.0 
0 
José A. Avila (until September 30, 2018) 
146 
0.0 
50.5 
0.0 
0 
 
 
 
 
 
 
 
Benefit payments to former members of the Executive Board 
Benefit payments totaling €5.297 million were paid to former Exec-
utive Board members who left the company in fiscal 2011 or earlier. 
Benefits in the event of regular termination of employment 
(Section 162 (2) No. 3 AktG) 
In the event of regular termination of their employment relation-
ship, Executive Board members receive the following benefits: 
› Future benefit rights as already described in this remuneration  
report. 
› For each member of the Executive Board, a post-contractual non-
compete covenant is agreed for a duration of two years. Over this 
period of time, appropriate compensation (compensation for non-
competition) is granted at an amount of 50% of the most recently 
contractually agreed benefits each year. 
Benefits in the event of premature termination of employment 
(Section 162 (2) No. 2 AktG) 
In the event of premature termination of their employment relation-
ship under Section 162 (2) AktG, Executive Board members receive 
the aforementioned benefits in accordance with Section 162 (2) 
No. 3 AktG, and in addition the following benefits: 
› In the event of premature termination of Executive Board work 
without good cause, payments to be agreed where necessary 
that are made to the member of the Executive Board, including 
additional benefits, shall not exceed the value of two annual sala-
ries (severance cap) or the value of remuneration for the remain-
ing term of the service agreement of the Executive Board mem-
ber. For the calculation of the severance cap, the total remunera-
tion for the past fiscal year is taken into account, and if necessary 
also the expected total remuneration for the current fiscal year. 
› Any severance payment is to be credited against the compensa-
tion for non-competition. 
› If the Executive Board member dies during the term of the ser-
vice agreement, his/her widow(er) or a registered life partner and 
any dependent orphans are entitled as joint creditors to the fixed 
remuneration for the month of death and the following six 
months, at most until the scheduled end date of the service 
agreement. 
Benefits in the event of termination of employment (pursuant to 
Section 162 (2) Nos. 2 and 4 AktG) 
Hans-Jürgen Duensing left the Executive Board prematurely on May 
31, 2021. His service agreement ended on July 31, 2021. He re-
ceived gross fixed remuneration of €133 thousand for the period 
from June 1, 2021, to July 31, 2021, and additional gross benefits 
of €6 thousand. In addition, he is entitled for this period to a pro rata 
share of the STI for fiscal 2021 and the 2021–2025 LTI. During this 
period, Hans-Jürgen Duensing was continuously available to ensure 
an orderly handover of his duties to his successor, Philip Nelles. The 
entitlement to compensation for non-competition starting from Au-
gust 1, 2021, exceeded the pension entitlements in fiscal 2021. As 
a result, no benefit payments were made to Hans-Jürgen Duensing. 
Wolfgang Schäfer left the Executive Board prematurely on Novem-
ber 17, 2021. His service agreement ended on January 31, 2022 
(“termination date”). Wolfgang Schäfer was entitled to fixed remu-
neration until the termination date. Furthermore, Wolfgang Schäfer 
is entitled to the performance bonus for fiscal 2021 and on a pro 
rata basis until the termination date for fiscal 2022, as well as one 
twelfth of the contractual allotment value of the 2022–2025 LTI. 
His entitlements from earlier LTI tranches also remain unaffected. 
To compensate for the contractual claims that no longer arise as a 
result of the premature termination of the service agreement, a 
compensation claim was agreed in the gross amount of €6.693 
million. Payments to Wolfgang Schäfer in accordance with the 
aforementioned arrangements and other heretofore unpaid varia-
ble remuneration elements depend on certain conditions. If these 
requirements are met, the company will make the payments at a 
later date.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
110
 
Frank Jourdan left the Executive Board prematurely on December 
31, 2021; his service agreement was terminated prematurely as of 
the same date. As compensation for claims from the premature ter-
mination of his service agreement, Frank Jourdan received a one-
time gross severance payment of €3.028 million. 
Helmut Matschi left the Executive Board prematurely on December 
31, 2021; his service agreement was terminated prematurely as of 
the same date. As compensation for claims from the premature ter-
mination of his service agreement, Helmut Matschi received a one-
time gross severance payment of €4.135 million. 
Benefits from third parties to a member of the Executive Board 
(Section 162 (2) No. 1 AktG) 
In fiscal 2021, the members of the Executive Board neither re-
ceived nor were promised payments by a third party with respect 
to their activities on the Executive Board. The same applies to the 
benefits or commitments of other Continental Group companies. 
Comparative presentation of the annual change in the remuneration of the members of the Executive Board, the company’s 
earnings performance and the average remuneration of employees on a full-time equivalent basis in accordance with 
Section 162 (1) Sentence 2 No. 2 AktG 
 
Change  
2017–2016 in % 
Change  
2018–2017 in % 
Change  
2019–2018 in % 
Change  
2020–2019 in % 
Change  
2021–2020 in % 
Remuneration of the Executive Board1  
  
  
  
  
  
Members of the Executive Board in 2021 
  
  
  
  
  
Nikolai Setzer 
–5.5 
–10.9 
–22.9 
–39.5 
37.8 
Hans-Jürgen Duensing (until May 31, 2021) 
67.8 
–4.9 
–19.7 
–14.5 
–6.5 
Katja Dürrfeld (since December 14, 2021) 
— 
— 
— 
— 
— 
Frank Jourdan 
–33.3 
148.1 
–37.7 
–50.8 
326.8 
Christian Kötz 
— 
— 
— 
83.8 
–16.2 
Helmut Matschi 
1.9 
15.6 
–12.7 
–63.5 
437.9 
Philip Nelles (since June 1, 2021) 
— 
— 
— 
— 
— 
Dr. Ariane Reinhart 
–15.4 
26.8 
7.3 
–31.5 
11.2 
Wolfgang Schäfer  
(until November 17, 2021) 
–6.3 
1.2 
–32.2 
–41.6 
2.4 
Andreas Wolf (until September 15, 2021) 
— 
— 
— 
— 
93.0 
  
  
  
  
  
  
Former members of the Executive Board 
  
  
  
  
  
Dr. Elmar Degenhart (until November 30, 2020) 
1.2 
17.2 
–36.8 
–48.5 
–11.4 
José Avila (until September 30, 2018) 
9.7 
–16.5 
–56.4 
–11.9 
19.8 
Ralf Cramer (until August 11, 2017) 
2.8 
5.0 
–48.4 
–106.9 
–275.0 
Heinz-Gerhard Wente (until April 30, 2015) 
–26.7 
4.4 
–69.2 
–23.4 
  
Elke Strathmann (until April 25, 2014) 
–43.3 
–100.0 
— 
— 
— 
 
  
  
  
  
  
Earnings performance 
  
  
  
  
  
Continental AG: net income 
45.1 
–2.4 
324.8 
–84.5 
54.3 
Continental Group: adjusted EBIT 
10.1 
–13.3 
–21.5 
–58.7 
41.6 
 
  
  
  
  
  
Average employee remuneration based on full-time 
equivalent 
  
  
  
  
  
Reference group2 
1.2 
4.2 
1.7 
–2.6 
3.0 
 
 
 
 
 
 
1 Granted and owed remuneration as defined in Section 162 (1) Sentence 1 AktG. 
2 Employees of the German companies of the Continental Group, with the exception of Konrad Hornschuch AG, Hornschuch Stolzenau GmbH, Elektrobit Automotive GmbH, 
Continental Trebbin GmbH & Co. KG, Continental Advanced Antenna GmbH and kek-Kaschierungen GmbH. These exempt companies are currently not integrated into the 
corporate-wide accounting systems; they employ less than 10% of all employees of German companies. Full-time employees (within the meaning of the collectively bargained or 
contractual weekly target working time) who were employed for a total of 360 social security days in fiscal 2021 as at December 31, 2021, excluding interns, trainees and 
posted workers; gross salary with employer share for social security and non-cash benefits; less severance pay and inventor remuneration.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
111
 
Presentation of the number of granted or committed virtual shares based on the deferral of the performance bonus under the 
2019 remuneration system – 2017 performance bonus (2018–2020 deferral) 
 
Deferral 
2017 
Initial 
share price 
Number of 
virtual shares 
2017 
Final 
share price 
Dividend 
for fiscal 
2018 
€4.75 
Dividend 
for fiscal 
2019 
€3.00 
Dividend 
for fiscal 
2020 
€0.00 
Payment  
deferral 
in 2021 
Members of the Executive Board in 2021 
in € 
thousands 
in € 
 
in € 
in € 
thousands 
in € 
thousands 
in € 
thousands 
in € 
thousands 
Nikolai Setzer 
421 
224.98 
1,873 
117.66 
9 
6 
— 
235 
Hans-Juergen Duensing  
(until May 31, 2021) 
552 
224.98 
2,452 
117.66 
11 
7 
— 
308 
Katja Dürrfeld (since December 14, 2021) 
— 
— 
— 
— 
— 
— 
— 
— 
Frank Jourdan 
700 
224.98 
3,112 
117.66 
15 
9 
— 
390 
Christian Kötz 
— 
— 
— 
— 
— 
— 
— 
— 
Helmut Matschi 
603 
224.98 
2,681 
117.66 
13 
8 
— 
336 
Philip Nelles (since June 1, 2021) 
— 
— 
— 
— 
— 
— 
— 
— 
Dr. Ariane Reinhart 
653 
224.98 
2,902 
117.66 
14 
9 
— 
364 
Wolfgang Schäfer  
(until November 17, 2021) 
653 
224.98 
2,902 
117.66 
14 
9 
— 
364 
Andreas Wolf (until September 15, 2021) 
— 
— 
— 
— 
— 
— 
— 
— 
  
  
  
  
  
  
  
  
  
Former members of the Executive Board 
  
  
  
  
  
  
  
  
Dr. Elmar Degenhart 
(until November 30, 2020) 
1,399 
224.98 
6,218 
117.66 
29 
19 
— 
780 
José A. Avila (until September 30, 2018) 
700 
224.98 
3,112 
117.66 
15 
9 
— 
390 
Dr. Ralf Cramer (until August 11, 2017) 
399 
224.98 
1,773 
117.66 
8 
5 
— 
222

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
112
 
Equity deferral performance bonus (from 2020) of active members of the Executive Board in fiscal 2021 
 
Number of shares 
Total value of 
acquired shares1 
Equity 
deferral amount2 
Blocked 
until 
 
  
as at  
December 31, 2021 
  
  
Members of the Executive Board in 2021 
 
in € thousands 
in € thousands 
  
Nikolai Setzer 
  
  
  
  
Equity deferral performance bonus 2020 
225 
21 
  
May 31, 2024 
Equity deferral performance bonus 2021 
  
  
1,576 
— 
Additional SOG holding obligation3 
— 
— 
  
  
Total 
225 
21 
  
  
SOG holding obligation3 
— 
  
  
— 
 
  
  
  
  
Hans-Jürgen Duensing (until May 31, 2021) 
  
  
  
  
Equity deferral performance bonus 2020 
378 
35 
  
May 31, 2024 
Equity deferral performance bonus 2021 
  
  
317 
— 
Additional SOG holding obligation 
708 
66 
  
  
Total 
1,086 
101 
  
  
SOG holding obligation 
1,086 
  
  
July 31, 2023 
 
  
  
  
  
Katja Dürrfeld (from December 14, 2021) 
  
  
  
  
Equity deferral performance bonus 2020 
— 
— 
  
— 
Equity deferral performance bonus 2021 
  
  
36 
— 
Additional SOG holding obligation3 
— 
— 
  
  
Total 
— 
— 
  
  
SOG holding obligation3 
— 
  
  
— 
 
  
  
  
  
Frank Jourdan 
  
  
  
  
Equity deferral performance bonus 2020 
206 
19 
  
May 31, 2024 
Equity deferral performance bonus 2021 
  
  
291 
— 
Additional SOG holding obligation 
462 
43 
  
  
Total 
668 
62 
  
  
SOG holding obligation 
668 
  
  
December 31, 2023 
 
  
  
  
  
Christian Kötz 
  
  
  
  
Equity deferral performance bonus 2020 
213 
20 
  
May 31, 2024 
Equity deferral performance bonus 2021 
  
  
765 
— 
Additional SOG holding obligation3 
— 
— 
  
  
Total 
213 
20 
  
  
SOG holding obligation3 
— 
  
  
— 
 
  
  
  
  
Helmut Matschi 
  
  
  
  
Equity deferral performance bonus 2020 
206 
19 
  
May 31, 2024 
Equity deferral performance bonus 2021 
  
  
291 
— 
Additional SOG holding obligation 
308 
29 
  
  
Total 
514 
48 
  
  
SOG holding obligation 
514 
  
  
December 31, 2023

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
113
 
 
Number of shares 
Total value of 
acquired shares1 
Equity 
deferral amount2 
Blocked 
until 
 
  
as at  
December 31, 2021 
  
  
Members of the Executive Board in 2021 
 
in € thousands 
in € thousands 
  
Philip Nelles 
  
  
  
  
Equity deferral performance bonus 2020 
— 
— 
— 
— 
Equity deferral performance bonus 2021 
  
  
449 
— 
Additional SOG holding obligation3 
— 
— 
  
  
Total 
— 
— 
  
  
SOG holding obligation3 
— 
  
  
— 
 
  
  
  
  
Dr. Ariane Reinhart 
  
  
  
  
Equity deferral performance bonus 2020 
206 
19 
  
May 31, 2024 
Equity deferral performance bonus 2021 
  
  
735  
— 
Additional SOG holding obligation3 
— 
— 
  
  
Total 
206 
19 
  
  
SOG holding obligation3 
— 
  
  
— 
 
  
  
  
  
Wolfgang Schäfer (until November 17, 2021) 
  
  
  
  
Equity deferral performance bonus 2020 
206 
19 
  
May 31, 2024 
Equity deferral performance bonus 2021 
  
  
647  
— 
Additional SOG holding obligation4 
430 
40 
  
  
Total 
636 
59 
  
  
SOG holding obligation4 
636 
  
  
January 31, 2024 
 
  
  
  
  
Andreas Wolf (until September 15, 2021) 
  
  
  
  
Equity deferral performance bonus 2020 
486 
45 
  
May 31, 2024 
Equity deferral performance bonus 2021 
  
  
520  
— 
Additional SOG holding obligation 
760 
71 
  
  
Total 
1,246 
116 
  
  
SOG holding obligation 
1,246 
  
  
September 15, 2023 
 
 
 
 
 
1 Calculated using the closing price of the Continental share on December 30, 2021, in the Xetra system of Deutsche Börse AG, which stood at €93.11. 
2 From the net inflow of the performance bonus, shares of Continental AG with a value of 20% of the “earned” total gross amount must be purchased and held for a period of 
three years; the corresponding gross amount of the deferral in the table on fixed and variable remuneration components of individual active members of the Executive Board in 
fiscal 2021 (Section 162 (1) Sentence 2 No. 1 AktG) was determined assuming a tax and contribution ratio of 50% flat. 
3 As the accumulation period has not yet been completed, an SOG holding obligation does not yet exist. 
4 As at January 31, 2022 (end of the accumulation period).
Malus and clawback provision pursuant to Section 162 (1) 
Sentence 2 No. 4 AktG 
The Supervisory Board of Continental AG did not apply the malus 
and clawback provision in fiscal 2021 because the associated con-
ditions were not met. 
Deviation from the remuneration system pursuant to 
Section 162 (1) Sentence 2 No. 5 AktG 
The company did not deviate from the remuneration system in  
fiscal 2021. 
 
Compliance with the maximum remuneration pursuant to 
Section 162 (1) Sentence 2 No. 7 AktG 
The maximum remuneration includes the fixed salary, additional 
benefits, the variable remuneration and the service cost. It totals 
€11.500 million gross for the chief executive officer, €6.700 million 
gross for the Executive Board members responsible for Finance 
and Human Relations, and €6.200 million gross for the other mem-
bers of the Executive Board. The maximum remuneration will not 
be exceeded for the past fiscal year. Although it cannot be estab-
lished definitively until 2025 whether the maximum remuneration 
has been exceeded because the answer depends on the payout 
amount of the 2021–2024 LTI tranche, the maximum remunera-
tion for the past fiscal year will not be exceeded even if the maxi-
mum amount of the 2021–2024 LTI tranche is assumed to be paid 
out in 2025.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
114
 
Pension entitlements pursuant to Section 162 (2) No. 3 AktG 
The pension entitlements of the individual members of the Executive Board are presented below. 
 
Defined benefit obligation1 
Service cost2 
In € thousands 
December 31, 2021 
December 31, 2020 
2021 
2020 
Members of the Executive Board in 2021 
  
  
  
  
Nikolai Setzer 
9,863 
10,129 
2,157 
999 
Hans-Jürgen Duensing (until May 31, 2021) 
4,475 
4,608 
289 
691 
Katja Dürrfeld (since December 14, 2021) 
81 
— 
25 
— 
Frank Jourdan 
6,563 
6,308 
724 
711 
Christian Kötz 
2,612 
1,899 
1,000 
936 
Helmut Matschi 
9,875 
9,927 
832 
805 
Philip Nelles (since June 1, 2021) 
637 
— 
588 
— 
Dr. Ariane Reinhart 
7,699 
7,431 
1,125 
920 
Wolfgang Schäfer (until November 17, 2021) 
14,781 
14,618 
860 
844 
Andreas Wolf (until September 15, 2021) 
960 
446 
300 
244 
 
 
 
 
 
1 Provisions for pension entitlements accrued to date in accordance with IFRS. 
2 Service cost for the year in accordance with IFRS. 
Individual remuneration of the members of the Supervisory 
Board in fiscal 2021 
Under the remuneration system for the Supervisory Board, each 
member of the Supervisory Board receives an annual fixed remu-
neration of €180 thousand. For the chairman and vice chairperson 
of the Supervisory Board, as well as the chairperson and members 
of a committee, a higher remuneration is paid. This is three times 
the regular fixed remuneration of a Supervisory Board member for 
the chairman of the Supervisory Board, 2.5 times as much for the 
chairman of the Audit Committee, two times as much for the chair-
person of another committee, and 1.5 times as much for the vice 
chairperson of the Supervisory Board and for the members of a 
committee. 
In addition, each Supervisory Board member receives meeting-at-
tendance fees of €1 thousand for each Supervisory Board meeting 
that the member attends in person. This applies, mutatis mutandis, 
to personal attendance of committee meetings that do not take 
place on the same day as a Supervisory Board meeting. The mem-
bers of the Supervisory Board also have their cash expenses reim-
bursed, in addition to the value added tax incurred by them for ac-
tivities relating to Supervisory Board work.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
115
 
Individual remuneration of the Supervisory Board in fiscal 2021 
Presentation of the remuneration granted to individual active and former members of the Supervisory Board in fiscal 2021 in accordance 
with the requirements of Section 162 (1) Sentence 2 No. 1 AktG 
 
Remuneration components 
 
2021 
In € thousands 
Fixed1 
Meeting-attendance fees 
Total 
Prof. Dr.-Ing. Wolfgang Reitzle2 
540 
0 
540 
Hasan Allak3 
180 
7 
187 
Christiane Benner3, 4 
270 
7 
277 
Dr. Gunter Dunkel 
180 
7 
187 
Francesco Grioli3 
270 
8 
278 
Michael Iglhaut3 
270 
23 
293 
Satish Khatu 
180 
5 
185 
Isabel Corinna Knauf 
180 
7 
187 
Carmen Löffler (since September 16, 2021)3 
53 
4 
57 
Sabine Neuß 
180 
10 
190 
Prof. Dr. Rolf Nonnenmacher 
450 
2 
452 
Dirk Nordmann3 
270 
7 
277 
Lorenz Pfau3 
180 
2 
182 
Klaus Rosenfeld 
270 
6 
276 
Georg F. W. Schaeffler 
270 
1 
271 
Maria-Elisabeth Schaeffler-Thumann 
270 
0 
270 
Jörg Schönfelder3 
270 
5 
275 
Stefan Scholz3 
180 
7 
187 
Elke Volkmann3 
180 
7 
187 
Kirsten Vörkel (until September 15, 2021)3 
127 
3 
130 
Prof. TU Graz e.h. KR Ing. Siegfried Wolf 
180 
8 
188 
 
 
 
 
1 The remuneration of the Supervisory Board comprises only a fixed remuneration. 
2 Chairman of the Supervisory Board. 
3 In accordance with the guidelines issued by the German Federation of Trade Unions, these employee representatives have declared that their board remuneration is transferred 
to the Hans Böckler Foundation and in one case to other institutions as well. 
4 Vice chairperson of the Supervisory Board.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Sustainable Management Practice 
116
 
Comparative presentation of the annual change in the company’s earnings performance, the remuneration of the members of 
the Supervisory Board and the remuneration of employees pursuant to Section 162 (1) Sentence 2 No. 2 AktG 
 
Change 
2017–2016 
Change  
2018–2017 
Change  
2019–2018 
Change  
2020–2019 
Change  
2021–2020 
Remuneration of the Supervisory Board1 
in % 
in % 
in % 
in % 
in % 
Members of the Supervisory Board in 2021 
  
  
  
  
  
Prof. Dr.-Ing. Wolfgang Reitzle2 
6.2 
1.8 
–32.3 
34.9 
2.7 
Hasan Allak 
— 
— 
— 
98.9 
2.2 
Christiane Benner3 
— 
— 
–18.6 
36.5 
3.0 
Dr. Gunter Dunkel 
5.5 
2.1 
–31.6 
37.3 
1.6 
Francesco Grioli 
— 
— 
316.7 
34.5 
3.3 
Michael Iglhaut 
40.0 
1.7 
–31.5 
32.5 
10.6 
Satish Khatu 
— 
— 
— 
94.6 
3.4 
Isabel Corinna Knauf 
— 
— 
— 
98.9 
2.2 
Carmen Löffler (since September 16, 2021) 
— 
— 
— 
— 
— 
Sabine Neuß 
5.5 
1.6 
–31.3 
29.9 
9.2 
Prof. Dr. Rolf Nonnenmacher 
5.1 
1.9 
–31.6 
33.4 
3.0 
Dirk Nordmann 
5.1 
2.4 
–32.0 
36.0 
1.8 
Lorenz Pfau 
— 
— 
— 
97.8 
0.0 
Klaus Rosenfeld 
5.5 
2.8 
–32.2 
36.0 
1.5 
Georg F. W. Schaeffler 
5.5 
2.1 
–31.8 
30.7 
2.7 
Maria-Elisabeth Schaeffler-Thumann 
5.6 
0.5 
4.2 
–12.6 
55.2 
Jörg Schönfelder 
5.9 
0.7 
–31.5 
36.9 
1.5 
Stefan Scholz 
5.5 
2.1 
–31.6 
35.8 
2.7 
Elke Volkmann 
7.3 
2.1 
–31.6 
35.1 
3.3 
Kirsten Vörkel (until September 15, 2021) 
5.5 
2.1 
–31.6 
36.6 
–29.0 
Prof. TU Graz e.h. KR Ing. Siegfried Wolf 
5.0 
3.2 
–32.7 
31.8 
8.0 
  
  
  
  
  
  
Former members of the Supervisory Board 
  
  
  
  
  
Hans Fischl (until December 31, 2016) 
–100.0 
— 
— 
— 
— 
Prof. Dr.-Ing. Peter Gutzmer (until April 26, 2019) 
6.7 
1.0 
–78.9 
–100.0 
— 
Peter Hausmann (until October 31, 2018) 
4.8 
–14.0 
–100.0 
— 
— 
Prof. Dr. Klaus Mangold (until April 26, 2019) 
6.1 
2.1 
–78.6 
–100.0 
— 
Hartmut Meine (until February 28, 2018) 
6.3 
–83.6 
–100.0 
— 
— 
Gudrun Valten (until April 26, 2019) 
— 
2.1 
–79.1 
–100.0 
— 
Erwin Wörle (until September 23, 2016) 
–22.3 
2.1 
–79.1 
–100.0 
— 
  
  
  
  
  
  
Earnings performance 
  
  
  
  
  
Continental AG: net income 
45.1 
–2.4 
324.8 
–84.5 
54.3 
Continental Group: adjusted EBIT 
10.1 
–13.3 
–21.5 
–58.7 
41.6 
Average employee remuneration based on full-time 
equivalent 
  
  
  
  
  
Reference group4 
1.2 
4.2 
1.7 
–2.6 
3.0 
 
 
 
 
 
 
1 Granted and owed remuneration as defined in Section 162 (1) Sentence 1 AktG. 
2 Chairman of the Supervisory Board. 
3 Vice chairperson of the Supervisory Board. 
4 Employees of the German companies of the Continental Group, with the exception of Konrad Hornschuch AG, Hornschuch Stolzenau GmbH, Elektrobit Automotive GmbH, 
Continental Trebbin GmbH & Co. KG, Continental Advanced Antenna GmbH and kek-Kaschierungen GmbH. These exempt companies are currently not integrated into the 
corporate-wide accounting systems; they employ less than 10% of all employees of German companies. Full-time employees (within the meaning of the collectively bargained  
or contractual weekly target working time) who were employed for a total of 360 social security days in fiscal 2021 as at December 31, 2021, excluding interns, trainees and 
posted workers; gross salary with employer share for social security and non-cash benefits; less severance pay and inventor remuneration.

Continental AG  2021 Integrated Sustainability Report  Development of Material Sustainability Topic Areas  Corporate Citizenship 
117
 
 
Management Approach  
As an active member of the global community, we demonstrate 
sustained commitment to social issues in many places around the 
world. We are primarily involved in the regions and markets in 
which we are present or that are directly influenced by our busi-
ness activities. Our commitment focuses as far as possible on local 
social needs, and aims to make long-lasting, positive changes to the 
benefit of people’s living conditions and the environment.  
Community projects, donations and other charitable activities are 
therefore initiated and managed at a local level at the discretion of 
the decentral, distributed units. In particular, these include dona-
tions, local support for volunteer work (corporate volunteering), as 
well as partnerships with public and non-profit organizations, 
schools and universities. The focus is on projects and initiatives in 
the areas of education, diversity and equal opportunities, as well as 
with regard to environmental protection and road safety. Wherever 
possible, we also bring in aspects of our core business in order to 
make our employees’ professional skills even more effective in a so-
cial context – such as in the form of mentoring programs.  
Our corporate-wide donations directive defines the main content 
and processes for financial donations and donations in kind. As a 
general rule, we only make donations to charitable non-profit or-
ganizations. We do not make any donations, either directly or indi-
rectly, to political parties, political organizations, or politicians. The 
option that our employees in the United States have of personally 
making political donations through a “political action committee” 
does not contradict this policy.  
We also support and promote our employees’ volunteer work. 
 
 
“Raising Heartbeats Challenge” – Global Fund-Raising Campaign Marking the Company’s Anniversary
 In 2021, in the week marking the company’s 150-year anni-
versary, Continental launched its “Raising Heartbeats Chal-
lenge” – a global fund-raising campaign that company employ-
ees and external parties were able to take part in.  
The donations were collected through a sports and exercise 
campaign: Anyone who verifiably pursued physical exercise 
for a total of 1.5 hours within a period of eight days contrib-
uted one “heart” that Continental converted into one euro 
cash donation. The sporting or exercise activities undertaken 
were documented by way of an app.  
All told, over 190,000 people took part in the campaign, 
160,000 of whom fulfilled the requirements for a donation. 
The donation totaling €160,000 collected in this way was in-
creased by the company’s management to a total of 
€180,000.  
Employees were also able to participate in choosing the bene-
ficiary social projects by voting for the “project close to their 
heart” from a preselection of international and local aid organi-
zations.  
The following recipient organizations and projects from six dif-
ferent countries won the most votes, and thus received a do-
nation of €30,000 each: 
› UERÊ project (Brazil): The UERÊ project is a privately funded 
school in the favelas (slums) of Rio de Janeiro that supports 
children and young people from disadvantaged social back-
grounds in particular.  
› Instituto de Rehabilitación al Maltrato de Menores “NEEDED” 
(Mexico): The Institute provides specialized care for abused 
children to promote their personal development and integra-
tion into families and society.  
› Miyawaki Forests (India): The Miyawaki method can quickly 
create forest in degraded areas that have been used for 
other purposes such as agriculture or construction. The aim 
is to reduce air and noise pollution, promote biodiversity, and 
reduce CO2 emissions. 
› Food Bank Yokohama (Japan): This organization collects un-
used food items and food items marked to be discarded and 
distributes these to homeless people and social institutions. 
› Unity in Africa (UINA) Foundation (South Africa): The UINA 
Foundation supports disadvantaged schoolchildren in Nel-
son Mandela Bay. As part of its program, it promotes and 
finds jobs for qualified engineers who are capable of employ-
ment and suitable for work, who have the will and passion to 
give their workplace added value. 
› Code for Romania (Romania): A community of volunteers 
who develop digital open-source software tools. Their mis-
sion is to create innovations using open data, transparency, 
and civil society technologies. 
Corporate Citizenship 
Im Fokus

Continental AG  2021 Integrated Sustainability Report  Risks and Opportunities  Risk and Opportunity Management and Internal Control System 
118
 
Source: 2021 Annual Report > Management Report > Report on Risks and Op-
portunities (
 starting p. 85) 
 
The overall situation is analyzed and 
managed corporate-wide using the risk  
and opportunity management system. 
The management of Continental is geared toward permanently  
increasing the value of each individual business unit. We evaluate 
risks and opportunities responsibly and on an ongoing basis in or-
der to achieve our goal of adding value. 
We define risk as the possibility of internal or external events occur-
ring that can have a negative influence on the attainment of our 
strategic and operational targets. As a global corporation, Continen-
tal is exposed to a number of different risks, in particular due to the 
transformation in the mobility industry, that could impair business 
and, in extreme cases, threaten the company’s existence. At the 
same time, this transformation also presents opportunities that we 
intend to consistently seize, as described in the Strategy of the 
Continental Group section. We accept manageable risks if the re-
sulting opportunities are expected to result in sustainable growth in 
value. We consider growth in value in terms of the Continental 
Value Contribution (CVC) system described in the Corporate Man-
agement section. 
Risk and Opportunity Management and 
Internal Control System 
In order to operate successfully as a company in a complex busi-
ness environment and to ensure the effectiveness, efficiency and 
propriety of accounting and compliance with the relevant legal and 
sub-legislative regulations, Continental has created a governance 
system that encompasses all relevant business processes. The gov-
ernance system comprises the internal control system, the risk 
management system and the compliance management system, 
which is described in detail in the Compliance section on page 22. 
The risk management system in turn also includes the early risk 
identification system in accordance with Section 91 (2) of the Ger-
man Stock Corporation Act (Aktiengesetz – AktG). 
The Executive Board is responsible for the governance system, 
which includes all subsidiaries. The Supervisory Board and its Audit 
Committee monitor its effectiveness. 
Pursuant to Sections 289 (4) and 315 (4) of the German Commer-
cial Code (Handelsgesetzbuch – HGB), the main characteristics of 
the internal control and risk management system with respect to 
the accounting process must be described. All parts of the risk 
management system and internal control system that could have a 
material effect on the annual and consolidated financial statements 
must be included in the reporting. 
Key elements of the corporate-wide control systems are the clear 
allocation of responsibilities and controls inherent in the system 
when preparing the financial statements. The two-person rule and 
separation of functions are fundamental principles of this organiza-
tion. In addition, Continental’s management ensures accounting 
that complies with the requirements of law via guidelines on the 
preparation of financial statements and on accounting, access au-
thorizations for IT systems and regulations on the involvement of 
internal and external specialists. 
The effectiveness of the financial reporting internal control system 
(Financial Reporting ICS) is evaluated in major areas by testing the 
effectiveness of the reporting units on a quarterly basis. In addition, 
Group Audit reviews the efficiency and effectiveness of control pro-
cesses as well as compliance with internal and external require-
ments. If any weaknesses are identified, the Continental Group’s 
management initiates the necessary measures. 
As part of our opportunity management activities, we assess mar-
ket and economic analyses and changes in legal requirements (e.g. 
with regard to fuel consumption and emission standards as well as 
safety regulations). In addition, we deal with the corresponding ef-
fects on the automotive sector and other relevant markets, our pro-
duction factors and the composition and further development of 
our product portfolio. 
Governance, risk and compliance (GRC) 
In the GRC policy adopted by the Executive Board, Continental de-
fines the general conditions for integrated GRC as a key element of 
the risk management system, which regulates the identification, as-
sessment, reporting and documentation of risks. In addition, this 
also further increases corporate-wide risk awareness and estab-
lishes the framework for a uniform risk culture. In the year under  
review, Continental systematized the calculation of risk-bearing ca-
pacity, among other things, in order to meet the extended require-
ments of the revised auditing standard IDW PS 340 n. F. However, 
this did not lead to any significant changes in the general flow of 
established processes. 
The GRC system incorporates all components of risk reporting and 
the examination of the effectiveness of the Financial Reporting ICS. 
Risks are identified, assessed and reported at the organizational 
level that is also responsible for managing the identified risks.  
 
 
Risks and Opportunities

Continental AG  2021 Integrated Sustainability Report  Risks and Opportunities  Risk and Opportunity Management and Internal Control System 
119
 
 
A multi-stage assessment process is used to involve also the 
higher-level organizational units. The GRC system thus includes all 
reporting levels, from the company level to the top corporate level. 
At the corporate level, the responsibilities of the GRC Committee – 
chaired by the Executive Board member responsible for Finance, 
Controlling and IT – include identifying material risks for the Conti-
nental Group as well as complying with and implementing the GRC 
policy. The GRC Committee regularly informs the Executive Board 
and the Audit Committee of the Supervisory Board of the material 
risks, any weaknesses in the control system and measures taken. 
Moreover, the auditor is required to report to the Audit Committee 
of the Supervisory Board regarding any material weaknesses in the 
Financial Reporting ICS which they have identified as part of their 
audit activities. 
Risk assessment and reporting 
A period under consideration of one year is always applied when 
evaluating risks and opportunities. Risks and their effects are as-
sessed using an end-to-end gross and net assessment methodol-
ogy that helps to identify the impact of risk-minimizing measures. 
Risks are assessed primarily according to quantitative criteria in 
various categories. If a risk cannot be assessed quantitatively, then 
it is assessed qualitatively based on the potential negative effects 
its occurrence would have on achieving corporate goals and based 
on other qualitative criteria such as the impact on Continental’s 
reputation. Risks and opportunities are not offset. 
Material individual risks for the Continental Group are identified 
from all the reported risks based on the probability of occurrence 
and the potential amount of damage that would be caused in the 
period under consideration. Quantified risks are based on EBIT ef-
fect and free cash flow effect. 
The individual risks that Continental has classified as material and 
the aggregated risks that have been assigned to risk categories are 
all described in the report on risks and opportunities, provided the 
potential negative effect of an individual risk or the sum of risks in-
cluded in a category exceeds €100 million in the period under 
consideration or there is a significant negative impact on the cor-
porate goals. 
The aggregated risk inventory is compared with the risk-bearing  
capacity determined under both the liquidation and going-concern 
approaches, taking into account possible interactions, and is sup-
plemented by a qualitative assessment by the GRC Committee on 
non-quantifiable risks in order to derive a statement on the poten-
tial risk to the Continental Group. 
Local management can utilize various instruments for risk assess-
ment, such as predefined risk categories (e.g. exchange-rate risks, 
product-liability risks, legal risks) and assessment criteria, centrally 
developed function-specific questionnaires as well as the Financial 
Reporting ICS’s process and control descriptions. The key controls 
in business processes (purchase to pay, order to cash, asset man-
agement, HR, IT authorizations, the financial statement closing pro-
cess and sustainability reporting) are thus tested with respect to 
their effectiveness.

Continental AG  2021 Integrated Sustainability Report  Risks and Opportunities  Material Risks 
120
 
All major subsidiaries carry out a semiannual assessment of busi-
ness-related risks and an annual assessment of compliance risks in 
the GRC system’s IT-aided risk management application. Any qual-
ity, legal and compliance cases that have actually occurred are also 
taken into account when assessing these risks. The quarterly Finan-
cial Reporting ICS completes regular GRC reporting. 
Furthermore, strategic risks are identified and assessed, for exam-
ple as part of a SWOT analysis (Strengths, Weaknesses, Opportuni-
ties, Threats). Any new material risks arising ad hoc between regu-
lar reporting dates have to be reported immediately and consid-
ered by the GRC Committee. This also includes risks identified in 
the audits by corporate functions. 
In addition to the risk analyses carried out by the reporting units as 
part of integrated GRC, audits are also performed by the Group Au-
dit department. Furthermore, the central controlling function ana-
lyzes the key figures provided as part of this reporting process at 
corporate and group-sector level in order to assess the effects of 
potential risks. 
Continental has set up the Compliance & Anti-Corruption Hotline to 
give employees and third parties outside the Continental Group the 
opportunity to report violations of legal regulations, its fundamental 
values and ethical standards. Information on any kind of potential 
violations, such as bribery or antitrust behavior, but also account-
ing manipulations, can be reported anonymously, where permissi-
ble by law, via this hotline. Tips received by the hotline are exam-
ined, pursued and dealt with fully by the Group Audit and Compli-
ance departments, as required, with the assistance of other depart-
ments. Continental also offers an ombudsman’s office. 
Risk management and monitoring 
The responsible management initiates suitable countermeasures 
that are also documented in the GRC system for each risk identified 
and assessed as material. The GRC Committee monitors and con-
solidates the identified risks and suitable countermeasures at the 
corporate level. It regularly reports to the Executive Board and rec-
ommends further measures if needed. The Executive Board dis-
cusses and resolves the measures, and reports to the Supervisory 
Board’s Audit Committee. The responsible bodies continually moni-
tor the development of all identified risks and the progress of ac-
tions initiated. Group Audit regularly audits the risk management 
process, thereby continually monitoring its effectiveness and fur-
ther development. 
Material Risks 
The order of the risk categories and individual risks presented 
within the four risk groups reflects the current assessment of the 
relative risk exposure for Continental and thus provides an indica-
tion of the current significance of these risks. If no quantitative in-
formation on the amount of damage is provided, the assessment is 
carried out on the basis of qualitative criteria. Unless the emphasis 
is placed on a specific group sector, the risks apply to all group sec-
tors. 
Financial Risks 
Continental is exposed to risks in connection with its financing 
agreements and the syndicated loan. 
Continental is subject to risks in connection with its financing 
agreements. Risks arise from the bonds that Continental AG and 
Conti-Gummi-Finance B.V., Maastricht, Netherlands, have issued as 
part of the Debt Issuance Programme (DIP). These financing agree-
ments contain covenants that could limit Continental’s capacity to 
take action as well as change-of-control provisions. 
In order to finance its current business activities as well as its in-
vestments and payment obligations, Continental concluded a syn-
dicated loan agreement in December 2019, recently updated in 
November 2021, from which risks may arise. Under the terms of 
the syndicated loan agreement, the lenders have the right to de-
mand repayment of the loan in the event of a change of control at 
Continental AG. 
The requirements for and consequences of a change in control in 
accordance with the terms of the bonds or the syndicated loan 
agreement are described in detail in the Additional Disclosures and 
Notes Pursuant to Section 289a and Section 315a HGB section on 
pages 82 and 83. The loans and bonds cited here could also imme-
diately become due and payable if other financing agreements of 
more than €75.0 million are not repaid on time or are prematurely 
called for repayment. 
The committed volume of the syndicated loan consists of a revolv-
ing tranche of €4.0 billion (due in December 2026). This had not 
been utilized as at the end of fiscal 2021.

Continental AG  2021 Integrated Sustainability Report  Risks and Opportunities  Material Risks 
121
 
Continental is exposed to risks associated with changes in 
currency exchange rates and hedging. 
Continental operates worldwide and is therefore exposed to finan-
cial risks that arise from changes in exchange rates. This could re-
sult in losses if assets denominated in currencies with a falling ex-
change rate lose value and/or liabilities denominated in currencies 
with a rising exchange rate appreciate. In addition, fluctuations in 
exchange rates could intensify or reduce fluctuations in the prices 
of raw materials in euros, as Continental sources a considerable 
portion of its raw materials in foreign currency. As a result of these 
factors, fluctuations in exchange rates can influence Continental’s 
earnings situation. 
External and internal transactions involving the delivery of prod-
ucts and services to third parties and companies of the Continental 
Group can result in cash inflows and outflows that are denominated 
in currencies other than the functional currency of the respective 
subsidiary of the Continental Group (transaction risk). To the extent 
that cash outflows of the respective subsidiary of the Continental 
Group in any one foreign currency are not offset by cash flows re-
sulting from operational business in the same currency, the remain-
ing net exchange-rate risk is hedged against on a case-by-case ba-
sis using the appropriate derivative instruments, particularly cur-
rency forwards, currency swaps and currency options with a term 
of up to 12 months. 
Moreover, Continental is exposed to exchange-rate risks arising 
from external and internal loan agreements that result in cash in-
flows and outflows denominated in currencies other than the func-
tional currency of the respective subsidiary of the Continental 
Group. These exchange-rate risks are in general hedged against by 
using appropriate derivative instruments, particularly currency for-
wards, currency swaps and cross-currency interest-rate swaps. Any 
hedging transactions executed in the form of derivative instru-
ments can result in losses. In addition, a number of Continental’s 
consolidated companies report their results in currencies other 
than the euro, which requires Continental to convert the relevant 
items into euros when preparing Continental’s consolidated finan-
cial statements (translation risk). Translation risks are generally not 
hedged. 
In order to quantify the possible effects of transaction-related ex-
change-rate risks from financial instruments on the earnings posi-
tion of the Continental Group, transaction currencies with a signifi-
cant exchange-rate risk within the next 12 months are identified 
based on current net exposure. If the exchange rates of these cur-
rencies all develop disadvantageously for Continental at the same 
time, then the hypothetical negative effect on the Continental 
Group’s earnings position, calculated based on a 10% change in the 
current closing rate, would amount to between €400 million and 
€500 million. 
Continental is exposed to default risks in connection with cash 
and cash equivalents, derivative instruments and interest-
bearing investments. 
In order to minimize the default risk for cash and cash equivalents, 
derivative instruments and interest-bearing investments, Continen-
tal generally uses banks that it has classified as core banks on the 
basis of defined criteria. As a general rule, these banks should have 
at least one investment-grade credit rating from one of the global 
rating agencies. The default risk can therefore be considered very 
low. The creditworthiness of the core banks – and of other banks 
with which investments are made, loans are granted or derivative 
instruments are traded in derogation from the core bank principle 
for operational or regulatory reasons – is continuously monitored. 
Not only the credit ratings but also in particular the premiums for 
insuring against credit default risks (credit default swaps, CDSs) are 
monitored, provided this information is available. In addition, Conti-
nental sets investment limits for each bank and trading limits for 
derivative instruments. The amount of these limits is based on the 
creditworthiness of the respective bank. Compliance with these  
limits is continuously monitored. Within the internally defined risk 
groups, the cash and cash equivalents, interest-bearing invest-
ments and positive (net) fair values of derivative instruments held 
at banks assigned to a higher risk group range from €200 million 
to €300 million. 
Risks Related to the Markets in Which 
Continental Operates 
Continental could be exposed to material risks in connection 
with a global financial and economic crisis. 
With a 61% share of consolidated sales, the automotive industry  
– with the exception of the replacement business – is Continental’s 
most important customer group. The remainder of its sales are 
generated from the replacement or industrial markets, mainly in 
the replacement markets for passenger-car and truck tires, and to a 
lesser extent in the non-automotive end markets of the other group 
sectors. 
In the year under review, global automotive markets recovered 
more slowly than expected, with ongoing high volatility and uncer-
tainty resulting in particular from problems within supply chains. 
Should a long-term revival take longer than anticipated or be 
dampened by a general economic downturn, it would likely further 
adversely affect Continental’s sales and earnings. 
In the year under review, Continental’s five largest OEM customers 
(Daimler, Ford, Renault-Nissan-Mitsubishi, Stellantis and VW) gener-
ated approximately 33% of sales. If one or more of Continental’s 
OEM customers is lost or terminates a supply contract prematurely, 
the original investments made by Continental to provide such 
products or outstanding claims against such customers could be 
wholly or partially lost. 
Moreover, Continental generated 49% of its 2021 total sales in Eu-
rope and 17% in Germany alone. By comparison, 25% of Continen-
tal’s total sales in 2021 were generated in North America, 22% in 
Asia-Pacific, and 4% in other countries. Therefore, in the event of an 
economic downturn in Europe, particularly in Germany, for exam-
ple, Continental’s business and earnings situation could be affected 
more extensively than that of its competitors. Furthermore, the au-
tomotive and tire markets in Europe and North America are largely 
saturated. To minimize this dependence, Continental is striving to 
improve the regional sales balance, particularly by generating more 
sales in emerging markets and especially in Asia.

Continental AG  2021 Integrated Sustainability Report  Risks and Opportunities  Material Risks 
122
 
Based on a scenario analysis that assumes stagnation with regard 
to the global production of passenger cars and light commercial 
vehicles in 2022, and taking into account measures required as a 
result, we anticipate a decline of around 2 percentage points in the 
adjusted EBIT margin. 
Continental could be severely affected by the consequences 
of the COVID-19 pandemic over a longer period. 
Due to the ongoing COVID-19 pandemic and the associated 
measures to tackle this worldwide, as well as the significant re-
strictions on production both at the Continental Group and at its 
customers and suppliers, there is a risk of significant and long-term 
negative effects on sales and procurement markets. This would 
have a considerable negative impact on the availability of raw ma-
terials and components as well as Continental’s sales volumes both 
in the OEM business and in the industrial and replacement busi-
ness. The duration of the general economic downturn as well as its 
effects on global supply chains and Continental’s various business 
units will largely depend on the success of containment measures 
as well as the effectiveness of corresponding relief packages and 
fiscal stimulus measures. While Continental has introduced 
measures aimed, for example, at improving its cost structure and 
ensuring supply chains, there is generally a risk of considerable and 
long-term negative effects on Continental’s earnings, financial and 
net assets position. 
Continental operates in a cyclical industry. 
With a 61% share of consolidated sales, the automotive industry – 
with the exception of the replacement business – is Continental’s 
most important customer group. Global production of vehicles and, 
as a result, sales to OEMs are subjected to major fluctuations in 
some cases. They depend, among other things, on general eco-
nomic conditions, disposable income and household consumer 
spending and preferences, which can be affected by a number of 
factors, including fuel costs as well as the availability and cost of 
consumer financing. As the volume of automotive production fluc-
tuates, the demand for Continental’s products also fluctuates, as 
OEMs generally do not commit to purchasing minimum quantities 
from their suppliers or to fixed prices. It is difficult to predict future 
developments in the markets Continental serves, which also makes 
it harder to estimate the requirements for production capacity. As 
Continental’s business is characterized by high fixed costs, it is thus 
exposed to the risk that fixed costs are not fully covered in the 
event of falling demand and the resulting underutilization of its fa-
cilities (particularly in Automotive). Conversely, should the markets 
in which Continental operates once again grow faster than antici-
pated, there could be insufficient capacity to meet customer de-
mand. To reduce the impact of the potential risk resulting from this 
dependence on the automotive industry, Continental is strengthen-
ing its replacement business and industrial business, including by 
means of acquisitions. 
Continental is exposed to fluctuations in the prices of raw 
materials and electronic components as well as a rise in 
energy and logistics costs. 
For the Automotive group sector, higher prices for raw materials 
and electronic components in particular can result in cost in-
creases. The Tires and ContiTech group sectors mainly use natural 
and synthetic rubber as well as oil-based raw materials. The prices 
for these raw materials and components are exposed to sometimes 
considerable fluctuations worldwide. At present, Continental does 
not actively hedge against the risk of rising prices of electronic 
components or raw materials by using derivative instruments. 
There may also be a significant rise in energy and logistics costs. If 
the company is not able to compensate for the increased costs or 
to pass them on to customers, these price increases could reduce 
Continental’s earnings by €400 million to €500 million. 
Continental is exposed to risks associated with additional or 
higher tariffs. 
Due to the trend toward protectionism and the increase in trade 
conflicts around the world, Continental sees itself at risk from addi-
tional or higher tariffs on automobiles and on the products, compo-
nents and raw materials it supplies or purchases. These tariffs could 
cause demand for Continental’s products to drop and costs to in-
crease, which would have an adverse effect on Continental’s busi-
ness and earnings situation. 
Continental is exposed to geopolitical risks. 
On March 7, 2022, due to ongoing geopolitical developments, the 
Executive Board of Continental amended its report on risks and op-
portunities dated February 22, 2022, as follows: Current geopoliti-
cal developments such as the war in Ukraine, the conflict between 
China and Taiwan, and the recent disputes between China and Lith-
uania could have an impact on Continental’s sales and procure-
ment markets. These include sanctions and other risks in supply 
chains as well as unforeseeable effects on the global economy. 
Continental constantly monitors current developments and derives 
possible scenarios and necessary measures.

Continental AG  2021 Integrated Sustainability Report  Risks and Opportunities  Material Risks 
123
 
Risks Related to Continental’s Business 
Operations 
Continental is exposed to risks in connection with its pension 
commitments. 
Continental provides defined benefit pension plans in Germany, the 
USA, the UK and certain other countries. As at December 31, 2021, 
the pension obligations amounted to €7,248.6 million. These exist-
ing obligations are financed predominantly through externally in-
vested pension plan assets. In 2006, Continental established legally 
independent trust funds under contractual trust arrangements 
(CTAs) for the funding of pension obligations of certain subsidiaries in 
Germany. In 2007, Continental assumed additional CTAs in connec-
tion with the acquisition of Siemens VDO. As at December 31, 2021, 
Continental’s net pension obligations (defined benefit obligations less 
the fair value of plan assets) amounted to €4,184.3 million. 
Continental’s externally invested plan assets are funded by exter-
nally managed funds and insurance companies. While Continental 
generally prescribes the investment strategies applied by these 
funds and takes these into account when selecting external fund 
managers, it does not have any influence over their individual in-
vestment decisions. The assets are invested in different asset clas-
ses, including equity, fixed-income securities, real estate and other 
investment vehicles. The values attributable to the externally in-
vested plan assets are subject to fluctuations in the capital markets 
that are beyond Continental’s influence. Unfavorable developments 
in the capital markets could result in a substantial coverage short-
fall for these pension obligations, resulting in a significant increase 
in Continental’s net pension obligations. 
Any such increase in Continental’s net pension obligations could 
adversely affect Continental’s financial condition due to an in-
creased additional outflow of funds to finance the pension obliga-
tions. Also, Continental is exposed to risks associated with longevity 
and interest-rate changes in connection with its pension commit-
ments, as an interest-rate decrease could have an adverse effect on 
Continental’s liabilities under these pension plans. Furthermore, cer-
tain US-based subsidiaries of Continental have entered into obliga-
tions to make contributions to healthcare costs of former employ-
ees and retirees. Accordingly, Continental is exposed to the poten-
tial risk that these costs may increase in the future. 
If the discount rates used to calculate net pension obligations were 
to decrease by 0.5 percentage points at the end of the year, all 
other things being equal, this would lead to a rise in net pension 
obligations of anywhere from €700 million to €800 million which 
could not be reduced by taking measures to minimize risk. How-
ever, this would not affect EBIT. 
Continental depends on a limited number of key suppliers for 
certain products. 
Continental is subject to the potential risk of unavailability of cer-
tain raw materials and production materials. Although Continental’s 
general policy is to source product components from a number of 
different suppliers, single sourcing cannot always be avoided and, 
consequently, Continental is dependent on certain suppliers in 
Tires and ContiTech as well as with respect to certain products 
manufactured by Automotive. Since Continental’s procurement lo-
gistics are mostly organized on a just-in-time or just-in-sequence 
basis, supply delays, cancellations, strikes, insufficient quantities or 
inadequate quality can lead to interruptions in production and 
therefore have a negative impact on Continental’s business opera-
tions in these areas. Continental tries to limit these risks by endeav-
oring to select suppliers carefully and monitor them regularly. How-
ever, if one of Continental’s suppliers is unable to meet its delivery 
obligations for any reason (e.g. insolvency, destruction of produc-
tion plants as a result of natural disasters, refusal to perform follow-
ing a change in control, or the far-reaching effects of the COVID-19 
pandemic), or if corresponding deliveries are affected by sanctions 
due to geopolitical disputes, Continental may be unable to source 
input products from other suppliers on short notice at the required 
volume. Such developments and events can therefore cause delays 
in the delivery or completion of Continental products or projects 
and could result in Continental having to purchase products or ser-
vices from third parties at higher costs or even to financially sup-
port its own suppliers. Furthermore, in many cases OEM customers 
have approval rights with respect to the suppliers used by Conti-
nental, which could make it impossible for Continental to source in-
put products from other suppliers upon short notice if the relevant 
OEM customer has not already approved other suppliers at an ear-
lier point in time and which could lead to order cancellations. 
Claims for damages on a considerable scale could also not be ruled 
out. Furthermore, Continental’s reputation among OEM customers 
could suffer, with the possible consequence that they select a dif-
ferent supplier. 
Continental is exposed to warranty and product liability 
claims. 
In its quality strategy, Continental has defined the framework condi-
tions for all quality-related activities and ascribes the highest prior-
ity to quality. However, Continental is constantly subject to product 
liability claims and proceedings alleging violations of due care, vio-
lation of warranty obligations or material defects, and claims arising 
from breaches of contract due to recalls or government proceed-
ings. Any such lawsuits, proceedings and other claims could result 
in increased costs for Continental. Moreover, defective products 
could result in loss of sales and loss of customer and market ac-
ceptance. Such risks are insured up to levels considered economi-
cally reasonable by Continental, but its insurance coverage could 
prove insufficient in individual cases. Additionally, any defect in one

Continental AG  2021 Integrated Sustainability Report  Risks and Opportunities  Material Risks 
124
 
of Continental’s products (in particular tires and other safety-related 
products) could also have a considerable adverse effect on the 
company’s reputation and market perception. This could in turn 
have a negative impact on Continental’s sales and income. Moreo-
ver, vehicle manufacturers are increasingly requiring a contribution 
from their suppliers for potential product liability, warranty and re-
call claims. In addition, Continental has long been subject to contin-
uing efforts by its customers to change contract terms and condi-
tions concerning the contribution to warranty and recall cost. Fur-
thermore, Continental manufactures many products pursuant to 
OEM customer specifications and quality requirements. If the prod-
ucts manufactured and delivered by Continental do not meet the 
requirements stipulated by its OEM customers at the agreed date 
of delivery, production of the relevant products is generally discon-
tinued until the cause of the product defect has been identified and 
remedied. Under certain circumstances, this could lead to losses of 
sales and earnings. Furthermore, Continental’s OEM customers 
could potentially claim damages, even if the cause of the defect is 
remedied at a later point in time. Moreover, failure to fulfill quality 
requirements could have an adverse effect on the market ac-
ceptance of Continental’s other products and its market reputation 
in various market segments. 
The quantifiable risks from warranty and product liability claims as 
at December 31, 2021, taking into account provisions, amounted 
to between €100 million and €200 million. 
Continental is subject to the risk of postponed product 
launches due to delayed research and development projects. 
In the Automotive group sector, delays in the development process 
due to steadily increasing complexity or lack of availability of quali-
fied specialists could result in delayed product launches, which 
could lead to potential claims from customers. This could relate to 
specific projects for individual customers as well as general devel-
opments affecting multiple customers. To reduce the potential im-
pact, critical projects are continuously and closely monitored and 
provided with additional resources. Should these measures prove 
insufficient, the potential claims asserted amount to €100 million 
to €200 million. 
Continental is exposed to information-technology risks. 
With regard to its business and production processes, its products 
and its internal and external communication, Continental is highly 
dependent on centralized and standardized information-technol-
ogy systems and networks. These systems and networks as well as 
the products themselves are potentially exposed to the risk of vari-
ous forms of cybercrime as well as damage and disruption that can 
have a wide range of other causes. In hacker attacks, third parties 
could attempt to gain unauthorized access to confidential infor-
mation and data that is stored, processed or communicated in the 
systems and networks. In addition, data, products and systems 
could be blocked, damaged, controlled or destroyed as a result of 
becoming infected with viruses or malware. 
Although Continental has taken appropriate precautions to manage 
the risks associated with system and network disruptions and cor-
responding attacks, a prolonged outage in a computer center or 
telecommunication network or a comparable incident could result 
in systems or networks becoming unexpectedly unavailable over 
an extended period. The measures taken to minimize such risks in-
clude technical and organizational precautions such as duplicated 
data storage and contingency plans, as well as suitable training 
measures that are continuously expanded, particularly to raise 
awareness of the growing threat from cybercrime. 
Should the precautions taken prove insufficient to adequately pro-
tect the systems, networks, products and information, Continental 
could suffer considerable damage and disadvantages as a result of 
outages or the knowledge and use of its information by third par-
ties. 
Continental is exposed to risks from trade restrictions, 
sanctions and export controls. 
Due to the global alignment of the economic activity of the Conti-
nental Group, there are business risks with respect to embargoes, 
sanctions and export controls. As a global company, Continental 
also has business relations with customers and partners based in 
countries that are – or may be in the future – subject to export re-
strictions, embargoes, economic sanctions or other forms of trade 
restrictions. In addition to the fundamental influence that such re-
strictions have on the business activity of the Continental Group,  
violations of relevant provisions may lead to considerable penalties, 
administrative sanctions, damage to the company’s reputation, as 
well as claims for damages. Continental may also be forced, 
through new trade restrictions, to limit or put an end to business 
activity in certain countries or regions. 
Continental could be adversely affected by property loss and 
business interruption. 
Fire, natural hazards, terrorism, power failures or other disturbances 
at Continental’s production facilities or within Continental’s supply 
chain – with customers and with suppliers – can result in severe 
damage and loss. Such far-reaching negative consequences can 
also arise from political unrest or instability. The risks arising from 
business interruption, loss of production, or the financing of facili-
ties are insured up to levels considered economically reasonable by 
Continental, but its insurance coverage could prove insufficient in 
individual cases. Furthermore, such events could injure or damage 
individuals, third-party property or the environment, which could, 
among other things, lead to considerable financial costs for Conti-
nental.

Continental AG  2021 Integrated Sustainability Report  Risks and Opportunities  Material Risks 
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Continental is exposed to risks in connection with its interest 
in MC Projects B.V. 
Continental and Compagnie Financière Michelin SCmA, Granges-
Paccot, Switzerland (Michelin), each hold a 50% stake in MC Pro-
jects B.V., Maastricht, Netherlands, a company to which Michelin 
contributed the rights to the Uniroyal brand for Europe as well  
as for certain countries outside Europe. In turn, MC Projects B.V.  
licensed to Continental certain rights to use the Uniroyal brand on 
or in connection with tires in Europe and elsewhere. Under the 
terms of the agreement concluded in this connection, both the 
agreement and the Uniroyal license can be terminated if a major 
competitor in the tire business acquires more than 50% of the  
voting rights of Continental AG or of its tire business. 
Furthermore, in this case Michelin also has the right to acquire a 
majority in MC Projects B.V. and to have MC Projects B.V. increase 
its minority stake in the manufacturing company Continental Ba-
rum s.r.o., Otrokovice, Czechia – one of Continental’s largest tire 
plants in Europe – to 51%. These events could have an adverse  
effect on the business and earnings position of Continental’s Tires 
group sector. 
Legal and Environmental Risks 
Continental could be threatened with fines and claims for 
damages for alleged or actual unlawful behavior. 
In May 2005, the Brazilian competition authorities opened investi-
gations against Continental’s Brazilian subsidiary Continental Brasil 
Industria Automotiva Ltda., Guarulhos, Brazil (CBIA), following a 
complaint of anticompetitive behavior in the area of commercializa-
tion of tachographs. On August 18, 2010, the Brazilian antitrust au-
thorities determined an “invitation to cartel” and imposed a fine of 
BRL 12 million (around €1.9 million) on CBIA, which was then re-
duced to BRL 10.8 million (around €1.7 million). CBIA denies the 
accusation that it has infringed Brazilian antitrust law. Although the 
court of first instance appealed to by CBIA upheld the decision, on 
CBIA’s further appeal the next higher court annulled this decision 
and remanded the matter. In case an infringement of Brazilian anti-
trust law is found, third parties may, in addition, claim damages 
from CBIA. 
On October 2, 2006, South African antitrust authorities received a 
complaint from a third party accusing several South African tire 
manufacturers of alleged antitrust behavior, including Continental 
Tyre South Africa (Pty.) Ltd., Port Elizabeth, South Africa (CTSA), a 
subsidiary of Continental. On August 31, 2010, the South African 
antitrust authorities came to the conclusion that CTSA had violated 
South African antitrust law and referred the matter to the responsi-
ble antitrust court for a decision. CTSA denies the allegation of in-
fringements of South African antitrust law. However, the tribunal 
could impose a fine of up to 10% of CTSA’s sales. In addition, third 
parties may also claim damages from CTSA in case of an infringe-
ment of South African competition law. 
As a result of investigations by the US Department of Justice (DOJ) 
and the Korea Fair Trade Commission (KFTC) in connection with 
the suspected involvement in violations of US and South Korean 
antitrust law in the instrument cluster business, which came to light 
in 2012, the KFTC imposed a fine on Continental Automotive Elec-
tronics LLC, Bugang-myeon, South Korea (CAE), at the end of 2013, 
the final amount of which was set in 2018 at KRW 32,101 million 
(around €24 million). In the USA, CAE and Continental Automotive 
Korea Ltd., Seongnam-si, South Korea, agreed to pay a fine of US 
$4.0 million (approximately €3.5 million). In the proceedings relat-
ing to class action lawsuits filed in the USA and Canada for alleged 
damages resulting from the antitrust violations, settlements totaling 
US $5.0 million (around €4.4 million) were concluded in the USA in 
2018 and settlements totaling CAN $0.6 million (around €0.4 mil-
lion) concluded in Canada in 2020. The risk of investigations by 
other antitrust authorities into this matter and further claims for 
damages by further alleged victims remain unaffected by the fines 
imposed. 
As a result of investigations that came to light in 2014, the Euro-
pean Commission imposed a fine of €44.0 million on Continen-
tal AG; Continental Teves AG & Co. oHG, Frankfurt am Main, Ger-
many; and Continental Automotive GmbH, Hanover, Germany; on 
February 21, 2018, for the unlawful exchange of information. This 
involved specific brake components. Customers have since ap-
proached Continental to claim for damages, in one case for a spe-
cific amount. Continental has rejected these claims as being with-
out merit. Nevertheless, it cannot be ruled out that the resulting ex-
penses will exceed the provisions that have been set aside for this 
purpose. In accordance with IAS 37.92 and GAS 20.154, no further 
disclosures will be made with regard to the proceedings and the re-
lated measures so as not to adversely affect the company’s inter-
ests. 
On March 3, 2021, the Brazilian antitrust authorities (Conselho Ad-
ministrativo de Defesa Econômica, CADE), acting on the basis of 
the issues addressed by the European Commission and described 
above, formally initiated proceedings against Continental Teves 
AG & Co. oHG, Frankfurt am Main, Germany, and certain former em-
ployees for alleged unlawful exchange of competition-sensitive in-
formation concerning hydraulic brake systems. The proceedings 
against Continental are still at an early stage. Continental is there-
fore unable to reliably predict in any way what the outcome of 
these proceedings will be. If Continental is found responsible for 
any violation, CADE could impose a fine on the company of 0.1% to 
20% of its revenue or that of the Continental Group in Brazil in the 
year prior to when the administrative proceedings were launched 
(2020). Non-pecuniary penalties may also be possible. Further-
more, customers allegedly affected by the alleged exchange of in-
formation could claim for damages if indeed a violation of Brazilian 
antitrust law is established.

Continental AG  2021 Integrated Sustainability Report  Risks and Opportunities  Material Risks 
126
 
The public prosecutor’s office in Hanover is conducting investiga-
tive proceedings against current and former employees as well as 
former board members of Continental AG suspected of committing 
criminal acts in connection with the development and supply of il-
legal defeat devices for VW diesel engines as well as in connection 
with the company’s subsequent investigation of these actions, and 
as part of these proceedings has conducted multiple searches at 
locations of Continental AG and individual companies of the Conti-
nental Group. Continental AG and individual companies of the Con-
tinental Group are ancillary parties to these proceedings. The inves-
tigations concern activities of the former Powertrain business area 
that were transferred within the scope of the spin-off to Vitesco 
Technologies Group AG, Regensburg, Germany, and its subsidiaries. 
In addition, the public prosecutor’s office in Frankfurt am Main, in 
connection with conducting administrative offense proceedings 
concerning illegal defeat devices in diesel engines of an interna-
tional automotive manufacturer – proceedings which have mean-
while been legally concluded against this automotive manufacturer 
with payment of a fine – is conducting separate administrative of-
fense proceedings against Continental AG on suspicion of breach 
of supervisory duties. The public prosecutor’s office in Frankfurt am 
Main is also conducting separate investigative proceedings against 
two former employees of Continental AG for suspected criminal 
acts carried out in connection with this matter. 
Both the investigations by the public prosecutor’s office and the 
company’s internal investigation into the matters covered by these 
proceedings, which involve considerable costs and effort, are ongo-
ing. Continental AG and the companies of the Continental Group 
are cooperating unreservedly with the public prosecutor’s offices  
in Hanover and Frankfurt am Main. There is a risk that fines will be 
imposed as a result of the allegations. The amount of such fines, 
which could comprise a levy and a penalty component, is currently 
unknown but collectively could be significant. Furthermore, the risk 
of damage to the company’s reputation cannot be ruled out. 
To cover risks and costs arising from the proceedings conducted 
by the public prosecutor’s offices in Hanover and Frankfurt am 
Main, a provision amounting to a high eight-figure sum has been 
set aside. 
In the event that fines or other measures are imposed on Continen-
tal AG and/or individual companies of the Continental Group that 
concern the transferred business, Vitesco Technologies Group AG 
is obligated on the basis of and in accordance with contractual pro-
visions arising in particular from the corporate separation agree-
ment concluded in the context of the spin-off to indemnify Conti-
nental AG and any individual companies of the Continental Group 
against the ensuing costs and liabilities. This is consistent with the 
agreement between the parties that all opportunities as well as all 
risks arising from the transferred business shall pass to Vitesco 
Technologies Group AG and the companies of Vitesco Technolo-
gies. These regulations have not been taken into account in the  
formation of the provision described above. In accordance with 
IAS 37.92 and GAS 20.154, no further disclosures will be made 
with regard to the proceedings and the related measures and any 
potential claims against Vitesco Technologies Group AG so as not 
to adversely affect the company’s interests. 
In view of the scope of these national and international investiga-
tions against automotive manufacturers and suppliers, further pro-
ceedings by public authorities, civil legal proceedings, and claims 
by third parties along with the related financial risks cannot be 
ruled out. 
There is a risk that Continental could infringe on the industrial 
property rights of third parties. 
There is a risk that Continental could infringe on the industrial 
property rights of third parties, since its competitors, suppliers and 
customers also submit a large number of inventions for industrial 
property protection. It is not always possible to determine with cer-
tainty whether there are effective and enforceable third-party in-
dustrial property rights to certain processes, methods or applica-
tions. Therefore, third parties could assert claims (including illegiti-
mate ones) of alleged infringements of industrial property rights 
against Continental. As a result, Continental could be required to 
cease manufacturing, using or marketing the relevant technologies 
or products in certain countries, or be forced to make changes to 
manufacturing processes and/or products. In addition, Continental 
could be liable to pay compensation for infringements or could be 
forced to purchase licenses to continue using technology from 
third parties. Continental, for example, supplies telecommunication 
modules that transmit vehicle data, enable voice and internet func-
tionality, and are compatible with cellular communication stand-
ards. In this respect, there is a risk that Continental or its suppliers 
may be denied their own direct license to use patents relating to 
these standards (standard essential patents), especially in the field 
of telecommunications standards such as 3G, 4G or 5G, and that 
Continental may become dependent on licenses and the condi-
tions under which they are granted to customers. In addition,  
Continental is subject to efforts by its customers to change con-
tract terms and conditions concerning the participation in disputes 
regarding alleged infringements of intellectual property rights. 
Continental is exposed to risks from legal disputes. 
Companies from the Continental Group are involved in a number  
of legal and arbitration proceedings and could become involved in 
other such proceedings in the future. These proceedings could in-
volve substantial claims for damages or payments, particularly in 
the USA. For more information on legal disputes, see Note 38 of 
the notes to the consolidated financial statements.

Continental AG  2021 Integrated Sustainability Report  Risks and Opportunities  Material Opportunities 
127
 
Continental could be unsuccessful in adequately protecting its 
intellectual property and technical expertise. 
Continental’s products and services are highly dependent upon its 
technological know-how and the scope and limitations of its propri-
etary rights therein. Continental has obtained or applied for a large 
number of patents and other industrial property rights that are of 
considerable importance to its business. The process of obtaining 
patent protection can be lengthy and expensive. Furthermore, pa-
tents may not be granted on currently pending or future applica-
tions or may not be of sufficient scope or strength to provide Conti-
nental with meaningful protection or commercial advantage. In ad-
dition, although there is a presumption that patents are valid, this 
does not necessarily mean that the patent concerned is effective or 
that possible patent claims can be enforced to the degree neces-
sary or desired. 
A major part of Continental’s know-how and trade secrets is not  
patented or cannot be protected through industrial property rights. 
Consequently, there is a risk that certain parts of Continental’s 
know-how and trade secrets could be transferred to collaboration 
partners, customers and suppliers, including Continental’s machin-
ery suppliers or plant vendors. This poses a risk that competitors 
will copy Continental’s know-how without incurring any expenses 
of their own. Moreover, Continental has concluded a number of li-
cense, cross-license, collaboration and development agreements 
with its customers, competitors and other third parties under which 
Continental is granted rights to industrial property and/or know-
how of such third parties. It is possible that license agreements 
could be terminated under certain circumstances in the event of 
the licensing partner’s insolvency or bankruptcy and/or in the 
event of a change of control in either party, leaving Continental 
with reduced access to intellectual property rights to commercial-
ize its own technologies. 
Continental could become subject to additional burdensome 
environmental or safety regulations, and new regulations 
could adversely affect demand for the company’s products 
and services. 
As a corporation that operates worldwide, Continental must ob-
serve a large number of different regulatory systems in numerous 
countries that change frequently and are continuously evolving 
and becoming more stringent, particularly with respect to the envi-
ronment, chemicals and hazardous materials, as well as health reg-
ulations. This also applies to air, water and soil pollution regulations 
and to waste legislation, all of which have recently become more 
stringent through new laws, particularly in the EU and the USA. 
Moreover, Continental’s sites and operations necessitate various 
permits and the requirements specified therein must be complied 
with. In the past, adjusting to new requirements has necessitated 
investments, and Continental assumes that further investments in 
this regard will be required in the future.
Material Opportunities 
Unless the emphasis is placed on a specific group sector, the op-
portunities apply to all group sectors. 
There are opportunities for Continental if the economy 
performs better than anticipated. 
If the economy in our major sales regions develops better than we 
have anticipated, we expect that demand for vehicles, replacement 
tires and industrial products will also develop better than we have 
anticipated. Due to the increased demand for Continental’s prod-
ucts among vehicle manufacturers and industrial clients and in the 
replacement business that would be expected as a consequence, 
our sales could rise more significantly than expected and there 
could be positive effects with regard to fixed cost coverage. 
There are opportunities for Continental if the sales markets 
develop better than anticipated. 
If demand for automobiles and replacement tires develops better 
than we have anticipated, this would have positive effects on Conti-
nental’s sales and earnings. Particular importance is attached to the 
European market due to the high share of sales that Continental 
generates in this region (49%). 
There are opportunities for Continental if prices fall on the raw 
materials markets relevant to us. 
Continental’s earnings situation is affected to a significant extent by 
the cost of raw materials, electronic components and energy. For 
Automotive, this particularly relates to the cost of electronic com-
ponents as well as metals and plastics. The earnings situation of 
Tires and ContiTech is significantly impacted by the cost of oil and 
of natural and synthetic rubber. If prices for natural and synthetic 
rubber in particular decline, this could have a positive impact on 
Continental’s earnings, provided sales prices for rubber products  
remain stable. 
The trend toward automated and autonomous driving 
presents Continental with opportunities. 
The trend from assisted driving to automated and autonomous 
driving is set to continue. Several OEMs expect to be able to pro-
vide new models with partially automated “Level 3” functions over 
the next few years. A key requirement for partially automated driv-
ing is that vehicles be equipped with sensors. Today, between two 
and seven sensors for assisted driving are installed per vehicle, de-
pending on the model. Even for partially automated driving, consid-
erably more and also higher-quality radar, camera and LiDAR sen-
sors are required, depending on the scope of the functionality. 
Since Continental is one of the leading providers of advanced 
driver assistance systems, the increasing volume of sensors, elec-
tronic control units and new software such as the Driving Planner

Continental AG  2021 Integrated Sustainability Report  Risks and Opportunities  Statement on Overall Risk and Opportunities Situation 
128 
 
(see the Research and Development section) could result in consid-
erable sales and earnings opportunities. 
Innovations for vehicle interiors present Continental with 
opportunities. 
For optimum interaction between the driver and the vehicle, more 
and more new products are being used in car manufacturing in the 
increasingly important area of “user experience.” For the user expe-
rience of the future, Continental has developed countless innova-
tions such as curved digital 3D displays, ShyTech displays (see the 
Research and Development section) and the Ac2ated Sound speak-
erless sound system. With an integrated solution for interior sensor 
technology, Continental is also increasing the level of comfort and 
safety within the vehicle. Since intelligent concepts for new experi-
ences for car buyers in the vehicle interior are becoming more and 
more important, and Continental is one of the leading providers of 
these, increasing demand among car manufacturers could result in 
considerable sales and earnings opportunities. 
The digitalization of vehicles and the data generated as a 
result presents Continental with opportunities. 
The massive amounts of data generated by driver assistance sys-
tems and driver information systems as well as the immediate pro-
cessing thereof in vehicles require a changeover of the vehicle ar-
chitecture to the most cutting-edge high-performance computers. 
This – together with the new software solutions required for this 
purpose – results in substantial growth potential for Continental 
with positive effects on its future sales and attainable margins. In 
addition, the increasing digitalization of our products gives us the 
opportunity to offer our customers software-based services as well 
as the product itself, and to open up new markets for mobility ser-
vices (smart mobility). 
The tire business presents Continental with opportunities. 
Continental intends to further increase its market share in the 
growth markets of Asia and North America in particular. In the pas-
senger-car tire segment, the global business with tires for electric 
mobility and ultra-high performance tires is to be systematically ex-
panded further. The truck and bus tire business is to be further de-
veloped in all regions through the Conti360˚ fleet services. Conti-
nental’s specialty tire business, which includes not only two-wheel 
and racing tires but also tires for a variety of industrial applications, 
is expected to grow further as well. Smart, digital tire solutions and 
ambitious sustainability goals will also make a significant contribu-
tion to market success and differentiation in the future. In the area 
of service-based digital solutions, the Tires group sector of Conti-
nental aims to become the leading supplier worldwide by 2030. If 
Continental succeeds in increasing its market share in high-growth 
segments and in digital solutions and services even more than 
planned, this is likely to have positive effects on its sales and earn-
ings. 
Digitalization in the industrial business presents Continental 
with opportunities. 
The growth potential results primarily from the increasing demand 
for digital and intelligent solutions in the industrial business. To this 
end, the ContiTech group sector will draw on its long-standing and 
detailed knowledge of the industry and materials to open up new 
business opportunities by combining various materials with elec-
tronic components and individual services. If these new products 
become established more quickly than planned, this would create 
corresponding sales and earnings opportunities for Continental. 
There are opportunities for Continental from changes in the 
legal framework. 
Legal regulations with the aim of further improving traffic safety 
provide an opportunity for a rise in demand for Continental’s prod-
ucts. Based on our broad product portfolio for active vehicle safety, 
we have developed more advanced safety systems over the past 
years. Further volume growth is expected as a result of more strin-
gent requirements in various regional safety tests, since an increas-
ing number of safety systems have been recognized as having 
achieved the very highest level of safety. In addition, more and 
more legal requirements in individual countries are being ex-
panded to include active safety systems. 
 
Statement on Overall Risk and 
Opportunities Situation
In the opinion of the Executive Board, the overall risk situation  
of the Continental Group has not changed significantly in the past 
fiscal year. 
How long the COVID-19 pandemic and the consequences thereof 
will continue to have an effect on the automotive industry and the 
macroeconomic situation remains to be seen. 
However, the analysis for the year under review did not reveal  
any risks, either at the balance sheet date or at the time the annual 
financial statements were prepared, that individually or collectively 
pose a threat to the company or the Continental Group as a going 
concern. In the opinion of the Executive Board, there are also no 
discernible risks to the Continental Group as a going concern in the 
foreseeable future. 
Considering the material opportunities, the overall risk assessment 
for the Continental Group presents a reasonable risk and opportu-
nities situation to which our risk-containment measures and our 
corporate strategy have been aligned accordingly.

Continental AG  2021 Integrated Sustainability Report  Notes  Information in Accordance with the EU Taxonomy Regulation 
129 
 
Source: 2021 Annual Report > Management Report > Corporate Profile >  
Sustainability and Combined Non-Financial Statement (
 starting p. 36) 
 
Note: This section relates to continuing and discontinued operations, with the 
exception of performance indicators for the financial year 2021. 
 
The EU Taxonomy is a classification system 
for determining sustainable economic 
activities in the real economy.  
The following disclosures are the mandatory disclosures of the 
Continental Group in accordance with Art. 8 of EU Taxonomy Regu-
lation 2020/852 in conjunction with Art. 10 (2) of Delegated Regu-
lation 2021/2178 for fiscal 2021. 
Specific Information on the Implementation of disclosure 
requirements in accordance with the EU Taxonomy Regulation 
There is general uncertainty on Continental’s part with respect to 
the reporting to be carried out for the first time as per the EU Tax-
onomy Regulation. This is due on the one hand to the short imple-
mentation period, since the specific disclosure requirements and 
corresponding notes were only resolved or published in the current 
reporting year or after the reporting year; on the other hand, it is 
also attributable to the fact that unclear and ambiguous wording 
continues to be used in the regulations and notes concerning the 
determination of Taxonomy-eligible economic activities as well as 
the calculations for key performance indicators for turnover, capital 
expenditure and operational expenditure. 
When it came to preparing the required information, we took into 
account the information that was available to us up until the state-
ment of the Executive Board on February 22, 2022 (statement of  
the Executive Board on the preparation, completeness and integrity 
of the consolidated financial statements and the management re-
port for Continental AG and the Continental Group, and on the 
other information provided in the annual report). Our assessment 
with regard to determining the Taxonomy eligibility of economic 
activities is primarily based on publicly communicated assess-
ments by industry associations in the supplier and automotive in-
dustry as well as the answers to frequently asked questions pub-
lished by the EU Commission. However, these interpretations have 
only an informative, non-binding nature, and uncertainty over the 
accounting standards persists. 
Taxonomy-eligible economic activities 
As part of our sustainability ambition, we strive for carbon neutral-
ity and emission-free mobility and industries by 2050 at the latest 
(see also the sections on carbon neutrality and on emission-free 
mobility and industries in this combined non-financial statement) 
and thus for the expansion of clean and carbon-neutral mobility. 
With this in mind, we have introduced performance indicators at a 
corporate level as part of our sustainability scorecard, with the aim 
of monitoring our progress. From this scorecard, we classify the al-
located business with emission-free mobility and industries as the 
indicator that comprises all economic activities to be disclosed for 
Continental as Taxonomy-eligible with respect to the environmental 
target of climate change mitigation in accordance with the EU Tax-
onomy Regulation. It consists of allocated business with zero-tail-
pipe-emission vehicles and allocated low-carbon business beyond 
business with zero-tailpipe-emission vehicles. 
All other economic activities of the Continental Group that are not 
included in the aforementioned economic activities are classified as 
Taxonomy non-eligible. 
The allocated business with zero-tailpipe-emission vehicles there-
fore falls under category 3.6 (“Manufacture of other low-carbon 
technologies”) of the delegated regulation for climate change miti-
gation, since it pursues the goal of developing clean or carbon-neu-
tral mobility in accordance with Art. 10 (1) c) in conjunction with 
Art. 10 (1) i) of the EU Taxonomy Regulation. This expansion will 
substantially reduce CO2 emissions from mobility use. The allo-
cated low-carbon business beyond business with zero-tailpipe-
emission vehicles primarily comprises the manufacture of products 
for wind turbines and photovoltaic systems, and therefore falls un-
der category 3.1 (“Manufacture of renewable energy technologies”). 
To a lesser extent, this business also includes the manufacture of 
products for wastewater treatment and waste recycling plants as 
well as for infrastructure in the area of low-carbon water transport, 
which we likewise classify as category 3.6. 
Taxonomy-eligible turnover 
In fiscal 2021, turnover associated with the Taxonomy-eligible  
economic activities of the Continental Group described above 
amounted to 2.9% (PY: n. a.). 
Turnover (in %) 
2021 
2020 
A. Taxonomy-eligible  
  
  
Continental Group 
2.9 
n. a. 
B. Taxonomy non-eligible 
  
  
Continental Group 
97.1 
n. a. 
Total (A + B)  
  
  
Continental Group 
100 
n. a. 
 
 
 
 
The information on turnover is prepared in accordance with sec-
tion 1.1.1 of Annex 1 to the delegated regulation on disclosure obli-
gations (2021/2178) and in compliance with IFRS accounting reg-
ulations. It relates only to continuing operations for the fiscal year 
and therefore excludes Vitesco Technologies, which was spun off 
on September 15, 2021. 
Information on the Continental Group’s total turnover can be found 
in the consolidated statement of income under the “Sales” item on 
page 110 of this annual report. 
 
 
Notes 
Information in Accordance with the 
EU Taxonomy Regulation

Continental AG  2021 Integrated Sustainability Report  Notes  Information in Accordance with the EU Taxonomy Regulation 
130 
 
Taxonomy-eligible capital expenditure and operational 
expenditure 
Capital expenditure associated with the Taxonomy-eligible eco-
nomic activities of the Continental Group amounted to 3.0% in  
fiscal 2021 (PY: n. a.).  
Capital expenditure (in %) 
2021 
2020 
A. Taxonomy-eligible  
  
  
Continental Group 
3.0 
n. a. 
B. Taxonomy non-eligible 
  
  
Continental Group 
97.0 
n. a. 
Total (A + B)  
  
  
Continental Group 
100 
n. a. 
 
 
 
 
Operational expenditure associated with the Taxonomy-eligible 
economic activities of the Continental Group amounted to 2.9% in 
fiscal 2021 (PY: n. a.). 
Operational expenditure (in %) 
2021 
2020 
A. Taxonomy-eligible  
  
  
Continental Group 
2.9 
n. a. 
B. Taxonomy non-eligible 
  
  
Continental Group 
97.1 
n. a. 
Total (A + B)  
  
  
Continental Group 
100 
n. a. 
 
 
 
 
The figures for Taxonomy-eligible capital expenditure and operational 
expenditure are allocations based on the proportion of Taxonomy-
eligible sales at business area level. For reasons connected to the 
business model, the equipment, machinery and buildings of the 
Continental Group are thus used both for Taxonomy-eligible eco-
nomic activities and for other economic activities. This applies both 
to capital expenditure and operational expenditure for assets or 
processes that are associated with Taxonomy-eligible economic ac-
tivities (category a), their expansion (category b) and the acquisi-
tion of products from Taxonomy-aligned economic activities as well 
as the described individual measures (category c) in accordance 
with sections 1.1.2.2 and 1.1.3.2 of Annex 1 to the delegated regu-
lation on disclosure obligations (2021/2178). The allocation se-
lected by Continental ensures that double counting of capital ex-
penditure and operational expenditure is avoided. In its interpreta-
tion of the required disclosure of Taxonomy-eligible capital expendi-
ture and operational expenditure, Continental reasonably assumed 
as part of the reporting process that no capital expenditure or  
operational expenditure as set out in category c) needed to be dis-
closed for Taxonomy non-eligible economic activities, as no reliable 
statements on the Taxonomy alignment of our suppliers’ production 
are available and there is no obligation to assess the Taxonomy 
alignment of our individual measures. Furthermore, owing to the 
calculation method used, the other direct operational expenditure 
according to 1.1.3.1 or 1.2.3.3. of Annex 1 to the delegated regula-
tion on disclosure obligations (2021/2178) were not specified fur-
ther. 
The short-term nature of the interpretation regarding capital expen-
diture and operational expenditure for category c), which, contrary 
to our original interpretation, is based solely on Taxonomy eligibility, 
and the associated ambiguity of the interpretation of Taxonomy eli-
gibility arising from the non-binding statement by the EU Commis-
sion on frequently asked questions dated February 2, 2022, meant 
that it was factually impossible to determine this information by the 
time of the statement of the Executive Board on February 22, 2022. 
As a result, no further capital expenditure and operational expendi-
ture as set out in category c) were identified. 
The information on capital expenditure is prepared in accordance 
with section 1.1.2 of Annex 1 to the delegated regulation on disclo-
sure obligations (2021/2178) in compliance with IFRS accounting 
regulations. Information on the Continental Group’s total capital ex-
penditure can be found in the notes to the consolidated financial 
statements in the segment reporting (Note 1) under the “Invest-
ments” item starting on page 117 of this annual report. As presen-
ted in the notes to the consolidated financial statements, the capital 
expenditure comprises intangible assets (Note 15, page 154), prop-
erty, plant and equipment (Note 16, pages 156 and 157), leases 
(Note 17, page 158) and investment property (Note 18, page 162) 
However, the figures referenced in the notes to the consolidated  
financial statements relate to both continuing and discontinued  
operations. 
Operational expenditure is defined in accordance with section 1.1.3 
of Annex 1 to the delegated regulation on disclosure obligations 
(2021/2178) and have been calculated on an imputed basis as de-
scribed above. 
Capital expenditure and operational expenditure relate only to con-
tinuing operations for the fiscal year and therefore exclude Vitesco 
Technologies, which was spun off on September 15, 2021.

Continental AG  2021 Integrated Sustainability Report  Notes  Performance Indicator Index 
131 
 
The following table summarizes the key sustainability reporting indicators listed in this integrated sustainability report. A complete over-
view of all financial indicators has been omitted. 
However, the performance indicators for fiscal 2021 relate to continuing operations and therefore exclude Vitesco Technologies, which 
was spun off on September 15, 2021. The data for fiscal 2019 and 2020 was transferred over from previous reports and was not ad-
justed and therefore relate to continuing and discontinued operations. Please note the respective footnotes for the performance indica-
tors on the referenced pages. 
Sustainability Topic Area/Performance Indicator 
2019  
continuing and 
discontinued 
operations 
2020  
continuing and 
discontinued 
operations 
2021 
continuing 
operations 
Comment 
(page reference) 
Carbon Neutrality  
  
  
  
  
Total own CO2 emissions (Scope 1 and 2) in millions of metric tons of CO2 
3.22 
0.99 
1.05 
16–17 
Direct CO2 emissions (Scope 1) in millions of metric tons of CO2 
0.84 
0.78 
0.82 
16–17 
Indirect CO2 emissions (Scope 2) in millions of metric tons of CO2 
2.38 
0.21 
0.23 
16–17 
Total indirect CO2 emissions (Scope 3) along the value chain in millions of metric tons of 
CO2 
n. a. 
n. a. 
108.89 
18–20 
Category 1: indirect CO2 emissions (Scope 3) – Purchased goods and services  
16 
14.65 
12.90 
18–20 
Category 2: indirect CO2 emissions (Scope 3) – Capital goods  
n. a. 
n. a. 
1.23 
18–20 
Category 3: indirect CO2 emissions (Scope 3) – Fuel- and energy related activities (not 
included in Scope 1 and 2) 
0.5 
0.41 
0.61 
18–20 
Category 4: indirect CO2 emissions (Scope 3) – Upstream transportation and distribution  
0.6 
0.70 
0.47 
18–20 
Category 5: indirect CO2 emissions (Scope 3) – Waste generated in operations  
0.02 
0.04 
0.04 
18–20 
Category 6: indirect CO2 emissions (Scope 3) – Business travel  
0.1 
0.02 
0.02 
18–20 
Category 7: indirect CO2 emissions (Scope 3) – Employee commuting  
n. a. 
n. a. 
0.19 
18–20 
Category 8: indirect CO2 emissions (Scope 3) – Upstream leased assets 
n. a. 
n. a. 
0.02 
18–20 
Category 9: indirect CO2 emissions (Scope 3) – Downstream transportation and distribution 
0.6 
0.50 
0.30 
18–20 
Category 10: indirect CO2 emissions (Scope 3) – Processing of sold products 
n. a. 
1.42 
1.42 
18–20 
Category 11: indirect CO2 emissions (Scope 3) – Use of sold products 
~ 100 
86.88 
87.95 
18–20 
Category 12: indirect CO2 emissions (Scope 3) – End-of-life treatment of sold products 
4 
3.42 
3.66 
18–20 
Category 13: indirect CO2 emissions (Scope 3) – Downstream leased assets  
n. a. 
n. a. 
0.01 
18–20 
Category 14: indirect CO2 emissions (Scope 3) – Franchises  
n. a. 
n. a. 
0.01 
18–20 
Category 15: indirect CO2 emissions (Scope 3) – Investments  
n. a. 
n. a. 
0.05 
18–20 
Total carbon footprint (Scope 1, 2 and 3) in millions of metric tons of CO2 
n. a. 
n. a. 
109.94 
20 
Total customer and product use-related CO2 emissions in millions of metric tons of CO2 
n. a. 
n. a. 
89.75 
20 
Total gross carbon backpack of Continental businesses in millions of metric tons of CO2 
n. a. 
n. a. 
20.19 
20 
Total negative CO2 emissions by carbon removals in millions of metric tons of CO2 
n. a. 
n. a. 
0.00 
20 
Total net carbon backpack of Continental businesses in millions of metric tons of CO2 
n. a. 
n. a. 
20.19 
20 
Emission-free Mobility and Industries 
  
  
  
  
Allocated business with emission-free mobility and industry in € millions 
n. a. 
n. a. 
991 
22 
Allocated business with zero-tailpipe-emission vehicles in € millions 
n. a. 
826 
986 
22 
Allocated low-carbon business beyond business with zero-tailpipe-emission vehicles in € 
millions 
n. a. 
n. a. 
6 
22 
Circular Economy 
  
  
  
  
Waste recycling quota in %  
80 
81 
81 
24 
Responsible Value Chain 
  
  
  
  
Number of available, valid supplier self-assessment questionnaires (as at Dec. 31) 
670 
696 
631 
26 
Completion rate for supplier self-assessments (as at Dec. 31) in % 
57 
59 
53 
26 
Innovation and Digitalization  
  
  
  
  
Research and development expenses (net) in € millions 
3,364.2 
3,381.80 
2,586.8 
29 
Research and development expenses (net) in € millions in % of sales  
7.6 
9.0 
7.7 
29 
Performance Indicator Index

Continental AG  2021 Integrated Sustainability Report  Notes  Performance Indicator Index 
132 
 
Sustainability Topic Area/Performance Indicator 
2019  
continuing and 
discontinued 
operations 
2020  
continuing and 
discontinued 
operations 
2021 
continuing 
operations 
Comment 
(page reference) 
Green and Safe Factories 
  
  
  
  
Environmental protection management system certifications (ISO 14001) – Employee 
coverage (as at Dec. 31) in % 
82 
82 
76 
33 
Energy management system certifications (ISO 50001) – Employee coverage (as at Dec. 
31) in % 
49 
51 
40 
33 
Occupational safety and health management system certifications (ISO 45001 or similar) – 
Employee coverage (as at Dec. 31) in % 
69 
69 
62 
33 
Accident rate (number of accidents per million working hours) 
3.0 
2.9 
2.6 
33 
Total energy consumption in TWh 
9.6 
8.7 
9.0 
34–35 
Energy consumption – Electricity in % 
49.2 
48.7 
46.5 
34–35 
Energy consumption – Natural gas in % 
36.1 
37.0 
38.3 
34–35 
Energy consumption – Steam in % 
9.5 
9.3 
10.2 
34–35 
Energy consumption – Coal in % 
2.0 
2.1 
2.2 
34–35 
Energy consumption – Heating oil in % 
1.1 
0.7 
0.8 
34–35 
Energy consumption – Other energy sources in % 
2.1 
2.2 
2.0 
34–35 
Total energy consumption – Non-renewable in MWh  
9.32 
4.48 
4.8 
34–35 
Total energy consumption – Renewable in MWh 
0.26 
4.25 
4.2 
34–35 
Total energy consumption in MWh/group sales in € millions 
215.8 
230.6 
265.6 
34–35 
Total water withdrawal in m3  
19.5 
17.3 
16.7 
34–35 
Water withdrawal – Drinking water in % 
47.7 
45.9 
47.2 
34–35 
Water withdrawal – Groundwater in % 
31.1 
33.3 
34.5 
34–35 
Water withdrawal – Surface water in % 
19.6 
18.9 
16.6 
34–35 
Water withdrawal – Industrial water in % 
1.6 
1.9 
1.7 
34–35 
Total water withdrawal in m3/group sales in € millions 
439.5 
458.5 
494.6 
34–35 
Total waste generation in metric tons 
409,280 
341,513 
            405,249  
34–35 
Waste – Non-hazardous in % 
90.3 
90.3 
91.8 
34–35 
Waste – Hazardous in % 
9.7 
9.7 
8.2 
34–35 
Total waste generation in metric tons/group sales in € millions 
9.2 
9.1 
12.0 
34–35 
Good Working Conditions  
  
  
  
  
Total employees 
241,458 
236,386 
190,875 
50 
Employees – Germany in % 
25 
25 
24 
50 
Employees – Europe excluding Germany in % 
32 
33 
34 
50 
Employees – North America in % 
19 
18 
18 
50 
Employees – Asia in % 
20 
19 
20 
50 
Employees – Other countries in % 
4 
5 
4 
50 
OUR BASICS Live Sustainable Engagement index in % 
81 
82 
80 
58 
Sickness rate in % 
3.4 
3.5 
3.7 
58 
Unforced fluctuation rate in % 
6.0 
4.6 
7.0 
58, 76 
Unforced fluctuation rate – Germany in % 
2.2 
2.1 
3.0 
76 
Unforced fluctuation rate – Europe excluding Germany in % 
6.9 
4.6 
6.9 
76 
Unforced fluctuation rate – North America in % 
9.4 
6.8 
10.5 
76 
Unforced fluctuation rate – Asia in % 
6.8 
5.5 
9.5 
76 
Unforced fluctuation rate – Other countries in % 
3.5 
4.5 
4.7 
76 
Employees with part-time contracts (as at Dec. 31) in % 
3.1 
3.1 
2.9 
76–77 
Employees with full-time contracts (as at Dec. 31) in % 
96.9 
96.9 
97.1 
76–77 
Employees with part-time contracts – Female (as at Dec. 31) in % 
6.6 
6.5 
7.0 
76–77 
Employees with part-time contracts – Male (as at Dec. 31) in % 
1.8 
1.8 
1.7 
76–77 
Employees with permanent contracts (as at Dec. 31) in % 
85.8 
86.0 
87.7 
77 
Employees with fixed-term contracts (as at Dec. 31) in % 
14.2 
14.0 
12.3 
77

Continental AG  2021 Integrated Sustainability Report  Notes  Performance Indicator Index 
133 
 
Sustainability Topic Area/Performance Indicator 
2019  
continuing and 
discontinued 
operations 
2020  
continuing and 
discontinued 
operations 
2021 
continuing 
operations 
Comment 
(page reference) 
Employees with fixed-term contracts – Female (as at Dec. 31) in % 
13.7 
13.5 
12.4 
77 
Employees with fixed-term contracts – Male (as at Dec. 31) in % 
11.4 
10.4 
10.0 
77 
Employees with fixed-term contracts – Germany (as at Dec. 31) in %  
6.8 
6.5 
7.1 
77 
Employees with fixed-term contracts – Europe excluding Germany (as at Dec. 31) in % 
13 
12.8 
10.1 
77 
Employees with fixed-term contracts – North America (as at Dec. 31) in % 
4.6 
5.7 
3.3 
77 
Employees with fixed-term contracts – Asia (as at Dec. 31) in % 
34.5 
35.0 
31.4 
77 
Employees with fixed-term contracts – Other countries (as at Dec. 31) in % 
4.8 
4.4 
8.5 
77 
Employees with leasing contract (as at Dec. 31) 
12,638 
13,352 
8,565 
77 
Benchmark in Quality 
  
  
  
  
New field quality events (as at Dec. 31) 
n. a. 
18 
36 
78 
Quality management system certifications (ISO 9001 or similar) – Employee coverage (as at 
Dec. 31) in % 
86 
91 
84 
78 
Sustainable Management Practice 
  
  
  
  
Gender diversity – Share of female executives and senior executives (as at Dec. 31) in % 
15.8 
16.1 
17.8 
81 
Employees who have completed e-learning on the Code of Conduct 
~ 90,000 
n. a. 
6,378 
90 
Participants in e-learning courses on anti-corruption, antitrust law, or the Vitesco spin-off 
> 90% 
~ 14,400 
~ 117,000 
90 
Participants in in-person training courses on anti-corruption and antitrust law 
8,483 
10,504 
~ 13,000 
90 
Information in Accordance with the EU Taxonomy Regulation 
  
  
  
  
Proportion of Taxonomy-eligible turnover in % 
n. a. 
n. a. 
2.9 
129–130 
Proportion of Taxonomy non-eligible turnover in % 
n. a. 
n. a. 
97.1 
129–130 
Proportion of Taxonomy-eligible capital expenditure in % 
n. a. 
n. a. 
3.0 
129–130 
Proportion of Taxonomy non-eligible capital expenditure in % 
n. a. 
n. a. 
97.0 
129–130 
Proportion of Taxonomy-eligible operational expenditure in % 
n. a. 
n. a. 
2.9 
129–130 
Proportion of Taxonomy non-eligible operational expenditure in % 
n. a. 
n. a. 
97.1 
129–130

Continental AG  2021 Integrated Sustainability Report  Notes  GRI Index 
134 
 
This report was prepared in accordance with the GRI standards. The consolidated set of GRI Sustainability Reporting Standards 2020 
served as the basis. The following index gives the page references for required information and provides information on the completeness 
of the answer. 
Universal disclosure obligations 
GRI 102: General Disclosures 
Disclosure 
Description 
Continental comments/ 
page reference 
Completeness  
(self-assessment) 
1. Organizational Profile 
  
102-1 
Name of the organization 
8 f. 
Fully reported 
102-2 
Activities, brands, products, and services 
8 f. 
Fully reported 
102-3 
Location of headquarters 
8 f. 
Fully reported 
102-4 
Location of operations 
8 f. 
Fully reported 
102-5 
Ownership and legal form 
8 f. 
Fully reported 
102-6 
Markets served 
8 f. 
Fully reported 
102-7 
Scale of the organization 
8 f. 
Fully reported 
102-8 
Information on employees and other workers 
8 f., 50, 76 f. 
Fully reported 
102-9 
Supply chain 
8 f. 
Fully reported 
102-10 
Significant changes to the organization and its supply chain 
8 f. 
Fully reported 
102-11 
Precautionary principle or approach 
14 
Fully reported 
102-12 
External initiatives 
143 
Fully reported 
102-13 
Membership of associations 
143 
Partially reported 
2. Strategy 
  
  
102-14 
Statement from senior decision-maker 
5, 14 
Fully reported 
3. Ethics and Integrity 
  
  
102-16 
Values, principles, standards, and norms of behavior 
81 f. 
Fully reported 
4. Governance 
  
  
102-18 
Governance structure 
14, 82 f. 
Fully reported 
5. Stakeholder Engagement 
  
  
102-40 
List of stakeholder groups 
14 
Fully reported 
102-41 
Collective bargaining agreements 
76 f. 
Partially reported 
102-42 
Identifying and selecting stakeholders 
14 f. 
Fully reported 
102-43 
Approach to stakeholder engagement 
14 f. 
Fully reported 
102-44 
Key topics and concerns raised 
6, 14 
Fully reported 
6. Reporting Practice 
  
  
102-45 
Entities included in the consolidated financial statements 
6 f. 
Fully reported 
102-46 
Defining report content and topic boundaries 
6 f. 
Fully reported 
102-47 
List of material topics 
6 f. 
Fully reported 
102-48 
Restatements of information 
6 f. 
Fully reported 
102-49 
Changes in reporting 
6 f. 
Fully reported 
102-50 
Reporting period 
6 f. 
Fully reported 
102-51 
Date of most recent report 
6 f. 
Fully reported 
102-52 
Reporting cycle 
6 f. 
Fully reported 
102-53 
Contact point for questions regarding the report 
146 
Fully reported 
102-54 
Claims of reporting in accordance with the GRI Standards 
6, 134 f. 
Fully reported 
102-55 
GRI content index 
134 f. 
Fully reported 
102-56 
External assurance 
6 f. 
Fully reported 
 
 
 
 
 
GRI Index

Continental AG  2021 Integrated Sustainability Report  Notes  GRI Index 
135 
 
Topic-specific disclosure obligations (by materiality)  
GRI 200: Economic 
Disclosure 
Description 
Continental comments/ 
page reference 
Completeness (self-assessment) 
201 
Economic Performance 
  
  
103 
Management approach 
36 f. 
Fully reported 
201-1 
Direct economic value generated and distributed 
36 f, 52. 
Partially reported 
201-2 
Financial implications and other risks and opportunities due to climate change 
5, 12 f., 14, 16 f., 22f. 
Partially reported 
201-3 
Defined benefit plan obligations and other retirement plans 
59 f. 
Fully reported 
201-4 
Financial assistance received from government 
57 
Fully reported 
202 
Market Presence 
  
  
103 
Management approach 
8 
Partially reported 
202-1 
Ratios of standard entry level wage by gender compared to local minimum wage not reported 
n. a. 
Not reported 
202-2 
Proportion of senior management hired from the local community 
n. a. 
Not reported 
203 
Indirect Economic Performance 
  
  
103 
Management approach  
117 
Partially reported 
203-1 
Infrastructure investments and services supported 
117 
Partially reported 
203-2 
Significant indirect economic impacts 
n. a. 
Not reported 
205 
Anti-Corruption 
  
  
103 
Management approach 
81 f., 89 f. 
Fully reported 
205-1 
Operations assessed for risks related to corruption 
89 f. 
Partially reported 
205-2 
Communication and training about anti-corruption policies and procedures 
89 f. 
Fully reported 
205-3 
Confirmed incidents of corruption and actions taken 
89 f. 
Not reported 
206 
Anti-competitive Behavior 
  
  
103 
Management approach 
81 f.  
Fully reported 
206-1  
Legal actions for anti-competitive behavior, anti-trust and monopoly practices 
92 f.  
Fully reported 
207 
Tax 
  
  
103 
Management approach  
50, 91 
Fully reported 
207-1 
Approach to tax 
50, 91 
Fully reported 
207-2 
Tax governance, control, and risk management 
50, 91 
Partially reported 
207-3 
Stakeholder engagement and management of concerns related to tax 
14, 50, 91 
Not reported 
207-4 
Country-by-country reporting 
91 
Partially reported

Continental AG  2021 Integrated Sustainability Report  Notes  GRI Index 
136 
 
GRI 300: Environment 
Disclosure 
Description 
Continental comments/ 
page reference 
Completeness  
(self-assessment) 
301 
Materials 
  
  
103 
Management approach 
24 
Fully reported 
301-1  
Materials used by weight or volume 
10 
Partially reported 
301-2  
Recycled input materials used 
24 f.  
Not reported 
301-3  
Reclaimed products and their packaging materials 
24 f.  
Not reported 
302 
Energy 
  
  
103 
Management approach 
34 f.  
Fully reported 
302-1 
Energy consumption within the organization 
34 f.  
Fully reported 
302-2 
Energy consumption outside of the organization 
n. a. 
Not reported 
302-3 
Energy intensity 
34 f.  
Fully reported 
302-4 
Reduction of energy consumption 
34 f.  
Partially reported 
302-5 
Reductions in energy requirements of products and services 
16 f., 22 f. 
Partially reported 
303 
Water 
  
  
103 
Management approach 
34 f.  
Fully reported 
303-1 
Water withdrawal by source 
34 f.  
Fully reported 
303-2 
Water sources significantly affected by withdrawal of water 
34 f.  
Fully reported 
303-3 
Water recycled and reused 
34 f.  
Not reported 
305 
Emissions 
  
  
103 
Management approach 
16 f., 22 f., 34 f.  
Fully reported 
305-1 
Direct (Scope 1) GHG emissions 
16 f. 
Fully reported 
305-2 
Indirect (Scope 2) GHG emissions 
16 f. 
Fully reported 
305-3 
Other indirect (Scope 3) GHG emissions 
18 f. 
Partially reported 
305-4 
GHG emissions intensity 
  
Not reported 
305-5 
Reduction of GHG emissions 
16 f., 22 f., 34 f.  
Partially reported 
305-6 
Emissions of ozone–depleting substances (ODS) 
n. a. 
Not reported 
305-7 
Nitrogen oxides (NOX), sulfur oxides (SOX) and other significant air emissions 
n. a. 
Not reported 
306 
Effluents and Waste 
  
  
103 
Management approach 
24, 34 f.  
Fully reported 
306-1 
Water discharge by quality and destination 
n. a. 
Not reported 
306-2 
Waste by type and disposal method 
34 f.  
Partially reported 
306-3 
Significant spills 
n. a. 
Not reported 
306-4 
Transport of hazardous waste 
n. a. 
Not reported 
306-5 
Water bodies affected by water discharges and/or runoff 
n. a. 
Not reported 
307 
Environmental Compliance 
  
  
103 
Management approach 
34 f., 89 f.  
Fully reported 
307-1 
Non–compliance with environmental laws and regulations 
92 f. 
Fully reported 
308 
Supplier Environmental Assessment 
  
  
103 
Management approach 
26 
Partially reported 
308-1 
New suppliers that were screened using environmental criteria 
26 
Partially reported 
308-2 
Negative environmental impacts in the supply chain and actions taken 
26 
Partially reported

Continental AG  2021 Integrated Sustainability Report  Notes  GRI Index 
137 
 
GRI 400: Social 
Disclosure 
Description 
Continental comments/ 
page reference 
Completeness  
(self-assessment) 
401 
Employment 
  
  
103 
Management approach 
58 
Fully reported 
401-1  
New employee hires and employee turnover 
58, 76 f. 
Partially reported 
401-2 
Benefits provided to full-time employees that are not provided to temporary or parttime employees 
58, 59 f. 
Partially reported 
401-3  
Parental leave 
n. a. 
Not reported 
402 
Labor/Management Relations 
  
  
103 
Management approach 
76 
Partially reported 
402-1 
Minimum notice periods regarding operational changes 
76 
Not reported 
403 
Occupational Health and Safety 
  
  
103 
Management approach 
33 f., 58 
Fully reported 
403-1 
Workers representation in formal joint management-worker health and safety committees 
76 
Not reported 
403-2 
Types of injury and rates of injury, occupational diseases, lost days, absenteeism, and the 
number of work-related fatalities 
33, 58 
Partially reported 
403-3  
Workers with high incidence or high risk of diseases related to their occupation 
n. a. 
Not reported 
403-4  
Health and safety topics covered in formal agreements with trade unions 
76 
Fully reported 
404 
Training and Education 
  
  
103 
Management approach 
58 
Fully reported 
404-1 
Average hours of training per year per employee 
58 
Not reported 
404-2 
Programs for upgrading employee skills and transition assistance programs 
58 
Partially reported 
404-3 
Percentage of employees receiving regular performance and career development reviews 
58 
Not reported 
405 
Diversity and Equal Opportunity 
  
  
103 
Management approach 
58, 81, 88 f. 
Fully reported 
405-1 
Diversity of governance bodies and employees 
82 f., 88 f. 
Partially reported 
405-2 
Ratio of basic salary and remuneration of women to men 
76 
Not reported 
406 
Non-discrimination 
  
  
103 
Management approach 
26 f., 58, 88 f. 
Partially reported 
406-1 
Incidents of discrimination and corrective actions taken 
26 f., 58, 88 f. 
Not reported 
407 
Freedom of Association and Collective Bargaining 
  
  
103 
Management approach 
26 f., 57, 59, 76 
Partially reported 
407-1 
Operations and suppliers in which the right to freedom of association and collective 
bargaining may be at risk 
26 f. 
Partially reported 
408 
Child Labor 
  
  
103 
Management approach 
26 f., 57, 59 
Partially reported 
408-1 
Operations and suppliers at significant risk for incidents of child labor 
26 f. 
Partially reported 
409 
Forced or Compulsory Labor 
  
  
103 
Management approach 
26 f., 57, 59 
Partially reported 
409-1 
Operations and suppliers at significant risk for incidents of forced or compulsory labor 
26 f. 
Partially reported 
412 
Human Rights Assessment 
  
  
103 
Management approach 
26 f. 
Fully reported 
412-1 
Operations that have been subject to human rights reviews or impact assessments 
26 f., 33 
Partially reported

Continental AG  2021 Integrated Sustainability Report  Notes  GRI Index 
138 
 
Disclosure 
Description 
Continental comments/ 
page reference 
Completeness  
(self-assessment) 
412-2 
Employee training on human rights policies or procedures 
26 f., 89 f. 
Partially reported 
412-3 
Significant investment agreements and contracts that include human rights clauses or that 
underwent human rights screening 
n. a. 
Not reported 
414 
Supplier Social Assessment 
  
  
103 
Management approach 
26. f. 
Fully reported 
414-1 
New suppliers that were screened using social criteria 
26. f. 
Partially reported 
414-2 
Negative social impacts in the supply chain and actions taken 
26. f. 
Partially reported 
415 
Public Policy 
  
  
103 
Management approach 
117 
Partially reported 
415-1 
Political contributions 
117 
Fully reported 
416 
Customer Health and Safety 
  
  
103 
Management approach 
78 f. 
Partially reported 
416-1 
Assessment of the health and safety impacts of product and service categories 
78 f. 
Partially reported 
416-2 
Incidents of non-compliance concerning the health and safety impacts of products and services 
92 f. 
Fully reported 
418 
Customer Privacy 
  
  
103 
Management approach 
31 
Partially reported 
418-1 
Substantiated complaints concerning breaches of customer privacy and losses of customer data 
n. a. 
Not reported 
419 
Socioeconomic Compliance 
  
  
103 
Management approach 
26 f. 
Partially reported 
419-1 
Non-compliance with laws and regulations in the social and economic area 
92 f. 
Fully reported

Continental AG  2021 Integrated Sustainability Report  Notes  UN Global Compact Index 
139 
 
The following index serves as the 2021 Communication on Progress of Continental Group in relation to the implementation of the princi-
ples of the UN Global Compact and, in this regard, presents the sustainability activities described in the context of the principles of the UN 
Global Compact. 
Topic area 
Principle 
Page reference 
Human Rights 
1. Businesses should support and respect the protection of internationally proclaimed human rights. 
16-20, 22-23, 24-25, 
26-28, 33-35, 58, 76 
 
2. Make sure that they are not complicit in human rights abuses. 
16-20, 22-23, 24-25, 
26-28, 33-35, 58, 77 
Labor 
3. Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining. 
26-28, 58, 76 
 
4. The elimination of all forms of forced and compulsory labor. 
26-28, 58, 77 
 
5. The effective abolition of child labor. 
26-28, 58, 78 
 
6. The elimination of discrimination in respect of employment and occupation. 
26-28, 58, 79 
Environment 
7. Businesses should support a precautionary approach to environmental challenges. 
16-20, 22-23, 24-25, 
26-28, 33-35 
 
8. Undertake initiatives to promote greater environmental responsibility. 
16-20, 22-23, 24-25, 
26-28, 33-36 
 
9. Encourage the development and diffusion of environmentally friendly technologies. 
16-20, 22-23, 24-25, 
26-28, 33-37 
Anti-Corruption 
10. Businesses should work against corruption in all its forms, including extortion and bribery. 
26-28, 89-90 
 
 
 
 
 
 
UN Global Compact Index

Continental AG  2021 Integrated Sustainability Report  Notes  SDG Index 
140 
 
The following index shows the Continental Group’s sustainability activities described in the context of the UN Sustainable Develop-
mentGoals (SDGs). 
SDG 
Page Reference 
SDG 
Page Reference 
 
117 
 
58, 88-89 
 
117 
 
16-20, 22-23, 24-25, 29-32, 36-57, 80, 117 
 
27-28, 33-35, 76-77 
 
16-20, 22-23, 24-25, 29-32, 33-35, 36-57, 80, 117 
 
59-76, 89, 117 
 
16-20, 22-23, 33-35 
 
81, 88-89 
 
33-35 
 
33-35 
 
16-20, 22-23, 24-25, 29-32, 33-35, 36-57, 80, 117 
 
16-20, 22-23, 33-35 
 
26-28, 89-90, 117 
 
36-56, 58 
 
14, 26, 28, 143 
 
16-20, 22-23, 24-25, 29-32, 36-57, 80, 117 
 
 
 
 
 
 
 
SDG Index

Continental AG  2021 Integrated Sustainability Report  Notes  TCFD Index 
141
 
 
The following index shows the Continental Group’s sustainability activities described in the context of the disclosure recommendations for 
climate reporting by the Task Force on Climate-Related Financial Disclosures (TCFD).  
Disclosure 
Page reference 
Governance: Disclose the organization’s governance around climate related risks and opportunities. 
  
a) Describe the board’s oversight of climate-related risks and opportunities. 
b) Describe management’s role in assessing and managing climate-related risks and opportunities. 
5, 13, 14, 81, 95 f. 
Strategy: Disclose the actual and potential impacts of climate-related risks and opportunities on the organization’s businesses, strategy, 
and financial planning where such information is material. 
  
a) Describe the climate-related risks and opportunities the organization has identified over the short, medium, and longterm. 
b) Describe the impact of climaterelated risks and opportunities on the organization’s businesses, strategy, and financial planning. 
c) Describe the resilience of the organization’s strategy, taking into consideration different climate-related scenarios, including a 2°C  
or lower scenario. 
5, 13, 14, 16-21, 22-23 
Risk Management: Disclose how the organization identifies, assesses, and manages climate-related risks. 
  
a) Describe the organization’s processes for identifying and assessing climate-related risks. 
b) Describe the organization’s processes for managing climate-related risks. 
c) Describe how processes for identifying, assessing, and managing climate-related risks are integrated into the organization’s  
overall risk management. 
5, 13, 14, 16-21, 22-23, 
118-128 
Metrics and Targets: Disclose the metrics and targets used to assess and manage relevant climate-related risks and opportunities where 
such information is material. 
  
a) Disclose the metrics used by the organization to assess climaterelated risks and opportunities in line with its strategy and risk 
management process. 
b) Disclose Scope 1, Scope 2, and, if appropriate, Scope 3 greenhouse gas (GHG) emissions, and the related risks. 
c) Describe the targets used by the organization to manage climate-related risks and opportunities and performance against targets. 
16-21, 22-23 
 
 
 
 
 
 
TCFD Index

Continental AG  2021 Integrated Sustainability Report  Notes  SASB Index 
142
 
 
The following index shows the Continental Group’s sustainability activities described in the context of the industry-specific reporting 
standards of the Sustainability Accounting Standards Board (SASB) for automotive suppliers (Automotive Parts).  
Diclosure 
Description 
Page reference 
Energy Management  
  
TR-AP-130a.1 
(1) Total energy consumed, (2) percentage grid electricity, (3) percentage renewable 
16-20, 33-35 
Waste Management  
  
TR-AP-150a.1 
(1) Total amount of waste from manufacturing, (2) percentage hazardous, (3) percentage recycled 
24, 33-35 
Product Safety 
  
TR-AP-250a.1 
Number of recalls issued, total units recalled 
78 
Design for Fuel Efficiency 
  
TR-AP-410a.1 
Revenue from products designed to increase fuel efficiency and/or reduce emissions 
22-23 
Materials Sourcing  
  
TR-AP-440a.1 
Description of the management of risks associated with the use of critical materials 
25, 27-28, 34-35 
Materials Efficiency 
  
TR-AP-440b.1 
Percentage of products sold that are recyclable 
25 
TR-AP-440b.2 
Percentage of input materials from recycled or remanufactured content 
25 
Competitive Behaviour 
  
TR-AP-520a.1 
Total amount of monetary losses as a result of legal proceedings associated with anticompetitive behavior regulations 
92-94 
Activity Metrics 
  
TR-AP-000.A 
Number of parts produced 
n. a. 
TR-AP-000.B 
Weight of parts produced 
n. a. 
TR-AP-000.C 
Area of manufacturing plants 
8 
 
 
 
 
 
 
SASB Index

Continental AG  2021 Integrated Sustainability Report  Notes  Key Memberships 
143
 
 
 
Organisation  
Joined 
 
World Business Council for Sustainable Development (WBCSD) 
2005 
 
Diversity Charter 
2008 
 
Luxembourg Declaration on Workplace Health Promotion in the European Union 
2010 
UN Global Compact 
United Nations Global Compact 
2012 
 
Women’s Empowerment Principles 
2015 
 
econsense ---- Sustainable Development Forum for the German Economy 
2015 
 
Global Platform for Sustainable Natural Rubber 
2018 
 
RE100 
2020 
 
CEO Water Mandate  
2020 
 
Alliance for Development and Climate 
2021 
RBA 
Responsible Business Alliance 
2022 
 
 
 
 
Key Memberships

Continental AG  2021 Integrated Sustainability Report  Notes  Ratings and Rankings 
144
 
 
Continental features in various sustainability indices: 
Index 
Description 
 
Continental is listed in various ECPI sustainability indices. 
 
Continental is represented in the FTSE4Good Index series. 
DAX® 50 ESG 
Continental is listed in the DAX 50 ESG. 
 
 
 
Continental also performed as follows in the rankings indicated below: 
Index 
Year 
Description 
 
February 2022 
Prime (C+) 
1 
February 2022 
BBB  
 
December 2021 
13.2 (low risk) 
Auto Components: Rank 10/210 
Auto Parts: Rank 6/181 
December 2021 
Climate: Score B  
Water: Score B  
Supply chain: Score A 
Supplier engagement leader board  
 
December 2021 
Score: 73/100  
98th percentile 
 
 
 
1 Disclaimer MSCI: The use by Continental of any MSCI ESG Research LLC data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a 
sponsorship, endorsement, or promotion of Continental by MSCI or any of its affiliates. MSCI services and data are the property or MSCI or its information providers. MSCI and 
MSCI ESG Research names and logos are trademarks or service marks of MSCI or its affiliates. 
 
 
Ratings and Rankings

Continental AG  2021 Integrated Sustainability Report  Notes  Independent Auditor’s Reports 
145
The following table shows the audit opinions of the independent auditor PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesell-
schaft, Hanover (PwC) for the audited contents of this report. 
Name of auditor’s report 
Date of the auditor's report2 
Available in the internet at 
Report on the Audit of the Consolidated Financial Statements and 
the Consolidated Management Report 
March 2, 2022/limited to the amendments stated in the 
“Note on Supplementary Audit” section: March 15, 2022 
www.continental-sustainability.com 
Auditor’s Report on the Remuneration Report 
March 17, 2022 
Independent Practitioner’s Report on a Limited Assurance 
Engagement on selected Sustainability Information in the 
Integrated Sustainability Report of Continental AG 
April 12, 2022 
Independent Auditor’s Reports

Continental AG  2021 Integrated Sustainability Report  Publication Details 
146
 
 
Publisher: 
Continental AG 
Vahrenwalder Strasse 9 
30165 Hanover 
Concept, editing and contact: 
Continental AG, Group Sustainability 
Steffen Schwartz-Hoefler, Head of Group Sustainability 
Andrea Lukas, Sustainability Reporting Specialist 
If you have questions or comments, please send us an e-mail to the 
address 
 sustainability@continental.com. 
Further information on sustainability at Continental can be found in 
the internet at 
 www.continental-nachhaltigkeit.com. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Publication Details

Continental Aktiengesellschaft
P.O. Box 1 69, 30001 Hanover, Germany 
Vahrenwalder Strasse 9, 30165 Hanover, Germany 
Phone: +49 511 938 - 01, Fax: +49 511 938 - 81770 
mailservice@conti.de
www.continental.com