Voting rights

Release of an announcement according to Section 25a, para. 1 of the WpHG
[the German Securities Trading Act]

Wertpapierkennnummer 843002
ISIN DE0008430026

We received the following notification pursuant to sec. 25a, para.1 WpHG:

1. Listed company:

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 Munich, Germany

2. Notifier:

Société Générale SA, Paris, France

3. Triggering event:

Falling below threshold

4. Threshold(s) crossed or reached:

5%

5. Date at which the threshold is crossed or reached:

7 June 2013

6. Total amount of voting rights:

4.46% (equals 7,996,444 voting rights)
calculated from the following total number of voting rights issued: 179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:
3.77% (equals 6,766,690 voting rights)
thereof held indirectly: 1.31% (equals 2,341,000 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
0.12% (equals 207,651 voting rights)
thereof held indirectly: 0.00% (equals 0 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
0.57% (equals 1,022,103 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
Société Générale Effekten GmbH, Frankfurt a.M., Germany

ISIN or name/description of the financial/other instruments:

25a WpHG

• Certificate DE000BN6GRS1, Maturity: 06/21/2013
• Certificate DE000BN9YFH6, Maturity: 12/20/2013
• Certificate DE000DE2UBM7, Maturity: 06/20/2013
• Certificate DE000DX1SEM4, Maturity: 06/19/2014
• Future, Maturity: 12/18/2015
• Future, Maturity: 06/21/2013
• Future, Maturity: 07/19/2013
• Structured Call option, Maturity: 01/02/2015
• Structured Call option, Maturity: 01/03/2025
• Structured Call option, Maturity: 01/05/2015
• Structured Call option, Maturity: 12/14/2018
• Structured Call option, Maturity: 12/15/2017
• Structured Call option, Maturity: 12/16/2016
• Structured Call option, Maturity: 12/18/2015
• Structured Call option, Maturity: 12/19/2014
• Structured Put option, Maturity: 01/02/2015
• Listed Call warrant DE0008173535, Maturity: 01/03/2025
• Listed Call warrant DE000SG1CV87, Maturity: 01/03/2025
• Listed Call warrant DE000SG305F5, Maturity: 01/03/2025
• Listed Call warrant DE000SG3HXM7, Maturity: 01/03/2025
• Listed Call warrant DE000SG3N8H3, Maturity: 01/03/2025
• Listed Call warrant DE000SG2MB05, Maturity: 01/05/2015
• Listed Call warrant DE000SG2WUV5, Maturity: 01/05/2015
• Listed Call warrant DE000SG2WUW3, Maturity: 01/05/2015
• Listed Call warrant DE000SG3AVM6, Maturity: 01/05/2015
• Listed Call warrant DE000SG32RM6, Maturity: 12/14/2018
• Listed Call warrant DE000SG32RN4, Maturity: 12/14/2018
• Listed Call warrant DE000SG32RP9, Maturity: 12/14/2018
• Listed Call warrant DE000SG26ZM1, Maturity: 12/15/2017
• Listed Call warrant DE000SG2WBX1, Maturity: 12/15/2017
• Listed Call warrant DE000SG2WBY9, Maturity: 12/15/2017
• Listed Call warrant DE000SG2LXN9, Maturity: 12/16/2016
• Listed Call warrant DE000SG2LXP4, Maturity: 12/16/2016
• Listed Call warrant DE000SG2LXQ2, Maturity: 12/16/2016
• Listed Call warrant DE000SG3UKX4, Maturity: 12/16/2016
• Listed Call warrant DE000SG3UKY2, Maturity: 12/16/2016
• Listed Call warrant DE000SG12HJ5, Maturity: 12/18/2015
• Listed Call warrant DE000SG12HK3, Maturity: 12/18/2015
• Listed Call warrant DE000SG2AKN9, Maturity: 12/18/2015
• Listed Call warrant DE000SG2HP71, Maturity: 12/18/2015
• Listed Call warrant DE000SG2HP89, Maturity: 12/18/2015
• Listed Call warrant DE000SG3UKV8, Maturity: 12/18/2015
• Listed Call warrant DE000SG3UKW6, Maturity: 12/18/2015
• Listed Call warrant DE000SG26ZJ7, Maturity: 12/19/2014
• Listed Call warrant DE000SG26ZK5, Maturity: 12/19/2014
• Listed Call warrant DE000SG26ZL3, Maturity: 12/19/2014
• Listed Call warrant DE000SG3UKT2, Maturity: 12/19/2014
• Listed Call warrant DE000SG3UKU0, Maturity: 12/19/2014
• Listed Put warrant DE000SG37FJ6, Maturity: 03/21/2014
• Listed Put warrant DE000SG37FK4, Maturity: 03/21/2014
• Listed Put warrant DE000SG4A4C7, Maturity: 03/21/2014
• Listed Put warrant DE000SG4AQU7, Maturity: 03/21/2014
• Listed Put warrant DE000SG4AQV5, Maturity: 03/21/2014
• Listed Put warrant DE000SG4AQW3, Maturity: 03/21/2014
• Listed Put warrant DE000SG4AQX1, Maturity: 03/21/2014
• Listed Put warrant DE000SG4BUH4, Maturity: 03/21/2014
• Listed Put warrant DE000SG4BUJ0, Maturity: 03/21/2014
• Listed Put warrant DE000SG4BUK8, Maturity: 03/21/2014
• Listed Put warrant DE000SG4BUL6, Maturity: 03/21/2014
• Listed Put warrant DE000SG3VE00, Maturity: 06/20/2014
• Listed Put warrant DE000SG3VE18, Maturity: 06/20/2014
• Listed Put warrant DE000SG3VEW7, Maturity: 06/20/2014
• Listed Put warrant DE000SG3VEY3, Maturity: 06/20/2014
• Listed Put warrant DE000SG4A4E3, Maturity: 06/20/2014
• Listed Put warrant DE000SG4A4F0, Maturity: 06/20/2014
• Listed Put warrant DE000SG4A4G8, Maturity: 06/20/2014
• Listed Put warrant DE000SG4AQ00, Maturity: 06/20/2014
• Listed Put warrant DE000SG4AQ18, Maturity: 06/20/2014
• Listed Put warrant DE000SG4AQ26, Maturity: 06/20/2014
• Listed Put warrant DE000SG4AQY9, Maturity: 06/20/2014
• Listed Put warrant DE000SG4AQZ6, Maturity: 06/20/2014
• Listed Put warrant DE000SG4BUM4, Maturity: 06/20/2014
• Listed Put warrant DE000SG4BUN2, Maturity: 06/20/2014
• Listed Put warrant DE000SG4BUP7, Maturity: 06/20/2014
• Listed Put warrant DE000SG4BUQ5, Maturity: 06/20/2014
• Listed Put warrant DE000SG3JWU8, Maturity: 06/21/2013
• Listed Put warrant DE000SG3VN33, Maturity: 06/21/2013
• Listed Put warrant DE000SG3VN41, Maturity: 06/21/2013
• Listed Put warrant DE000SG3X777, Maturity: 06/21/2013
• Listed Put warrant DE000SG3X785, Maturity: 06/21/2013
• Listed Put warrant DE000SG4AQB7, Maturity: 07/19/2013
• Listed Put warrant DE000SG4AQC5, Maturity: 07/19/2013
• Listed Put warrant DE000SG4AQD3, Maturity: 07/19/2013
• Listed Put warrant DE000SG4AQE1, Maturity: 07/19/2013
• Listed Put warrant DE000SG4AQF8, Maturity: 07/19/2013
• Listed Put warrant DE000SG4AQG6, Maturity: 07/19/2013
• Listed Put warrant DE000SG31B38, Maturity: 09/20/2013
• Listed Put warrant DE000SG3MNZ0, Maturity: 09/20/2013
• Listed Put warrant DE000SG3PN15, Maturity: 09/20/2013
• Listed Put warrant DE000SG3PN49, Maturity: 09/20/2013
• Listed Put warrant DE000SG3VEP1, Maturity: 09/20/2013
• Listed Put warrant DE000SG3VER7, Maturity: 09/20/2013
• Listed Put warrant DE000SG3VES5, Maturity: 09/20/2013
• Listed Put warrant DE000SG3VN58, Maturity: 09/20/2013
• Listed Put warrant DE000SG3VN66, Maturity: 09/20/2013
• Listed Put warrant DE000SG3VN74, Maturity: 09/20/2013
• Listed Put warrant DE000SG3X793, Maturity: 09/20/2013
• Listed Put warrant DE000SG4AQM4, Maturity: 09/20/2013
• Listed Put warrant DE000SG4AQN2, Maturity: 09/20/2013
• Listed Put warrant DE000SG4BUB7, Maturity: 09/20/2013
• Listed Put warrant DE000SG4BUC5, Maturity: 09/20/2013
• Listed Put warrant DE000SG31B46, Maturity: 12/20/2013
• Listed Put warrant DE000SG3PN72, Maturity: 12/20/2013
• Listed Put warrant DE000SG3PN80, Maturity: 12/20/2013
• Listed Put warrant DE000SG3PPA1, Maturity: 12/20/2013
• Listed Put warrant DE000SG3VEV9, Maturity: 12/20/2013
• Listed Put warrant DE000SG3VN82, Maturity: 12/20/2013
• Listed Put warrant DE000SG3VN90, Maturity: 12/20/2013
• Listed Put warrant DE000SG3VPA9, Maturity: 12/20/2013
• Listed Put warrant DE000SG3X8A6, Maturity: 12/20/2013
• Listed Put warrant DE000SG4AQQ5, Maturity: 12/20/2013
• Listed Put warrant DE000SG4AQR3, Maturity: 12/20/2013
• Listed Put warrant DE000SG4AQS1, Maturity: 12/20/2013
• Listed Put warrant DE000SG4AQT9, Maturity: 12/20/2013
• Listed Put warrant DE000SG4BUD3, Maturity: 12/20/2013
• Listed Put warrant DE000SG4BUE1, Maturity: 12/20/2013
• Listed Put warrant DE000SG4BUF8, Maturity: 12/20/2013
• Listed Put warrant DE000SG4BUG6, Maturity: 12/20/2013

Physically-settled put options:

• Listed Put Option, Maturity: 12/20/2013
• Listed Put Option, Maturity: 12/19/2014
• Listed Put Option, Maturity: 09/20/2013
• Listed Put Option, Maturity: 07/19/2013
• Listed Put Option, Maturity: 06/21/2013
• Listed Put Option, Maturity: 06/20/2014
• Structured Put option, Maturity: 03/21/2014
• Structured Put option, Maturity: 05/30/2014
• Structured Put option, Maturity: 09/20/2013
• Structured Put option, Maturity: 12/19/2014
• Structured Put option, Maturity: 12/20/2013

Munich, 14 June 2013

The Board of Management

Release of an announcement according to Section 25a, para. 1 of the WpHG
[the German Securities Trading Act]

Wertpapierkennnummer 843002
ISIN DE0008430026

On 17 May 2013 we received the following notifications pursuant to sec. 25a para. 1 WpHG:

Notification I:

1. Listed company:

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 Munich, Germany

2. Notifier:

Credit Suisse Group AG, Zurich, Switzerland

3. Triggering event:

Falling below threshold

4. Threshold(s) crossed or reached:

5%

5. Date at which the threshold is crossed or reached:

14 May 2013

6. Total amount of voting rights:

3.67% (equals 6,574,017 voting rights)
calculated from the following total number of voting rights issued: 179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:

0.38% (equals 683,207 voting rights)
thereof held indirectly 0.38% (equals 683,207 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:

0.32% (equals 573,332 voting rights)
thereof held indirectly: 0.32% (equals 573,332 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:

2.97% (equals 5,317,478 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
Credit Suisse AG, Credit Suisse International, Credit Suisse Investments (UK), Credit Suisse Investment Holdings (UK), Credit Suisse Securities (Europe) Limited

ISIN or name/description of the financial/other instrument:

• Call Option, cash settlement, expiry 28 June 2013
• Call Option, cash settlement, expiry 30 June 2014
• Call Option, cash settlement, expiry 30 June 2015
• Call Option, cash settlement, expiry 30 June 2016
• Equity Swap, cash settlement, expiry 16 May 2013
• Equity Swap, cash settlement, expiry 10 June 2013
• Equity Swap, cash settlement, expiry 20 Dec. 2013
• Equity Swap, cash settlement, expiry 30 Dec. 2013
• Equity Swap, cash settlement, expiry 03 Jan. 2014
• Equity Swap, cash settlement, expiry 06 Jan. 2014
• Equity Swap, cash settlement, expiry 02 May 2014
• Equity Swap, cash settlement, expiry 12 May 2014
• Equity Swap, cash settlement, expiry 30 May 2014
• Equity Swap, cash settlement, expiry 04 Aug. 2014
• Equity Swap, cash settlement, expiry 05 Aug. 2014
• Equity Swap, cash settlement, expiry 03 Nov. 2014
• Equity Swap, cash settlement, expiry 04 Nov. 2014
• Equity Swap, cash settlement, expiry 07 April 2015
• Equity Swap, cash settlement, expiry 18 July 2016
• Equity Swap, cash settlement, expiry 28 April 2017
• Equity Swap, cash settlement, expiry 02 Oct. 2017
• Equity Swap, cash settlement, expiry 29 Dec. 2020
• Equity Swap, cash settlement, expiry 31 Dec. 2020

Notification II:

1. Listed company:

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 Munich, Germany

2. Notifier:

Credit Suisse AG, Zurich, Switzerland

3. Triggering event:

Falling below threshold

4. Threshold(s) crossed or reached:

5%

5. Date at which the threshold is crossed or reached:

14 May 2013

6. Total amount of voting rights:

3.67% (equals 6,574,017 voting rights)
calculated from the following total number of voting rights issued: 179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:

0.38% (equals 683,207 voting rights)
thereof held indirectly 0.38% (equals 683,207 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:

0.32% (equals 573,332 voting rights)
thereof held indirectly: 0.32% (equals 573,332 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:

2.97% (equals 5,317,478 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
Credit Suisse International, Credit Suisse Investments (UK), Credit Suisse Investment Holdings (UK), Credit Suisse Securities (Europe) Limited

ISIN or name/description of the financial/other instrument:

• Call Option, cash settlement, expiry 28 June 2013
• Call Option, cash settlement, expiry 30 June 2014
• Call Option, cash settlement, expiry 30 June 2015
• Call Option, cash settlement, expiry 30 June 2016
• Equity Swap, cash settlement, expiry 16 May 2013
• Equity Swap, cash settlement, expiry 10 June 2013
• Equity Swap, cash settlement, expiry 20 Dec. 2013
• Equity Swap, cash settlement, expiry 30 Dec. 2013
• Equity Swap, cash settlement, expiry 03 Jan. 2014
• Equity Swap, cash settlement, expiry 06 Jan. 2014
• Equity Swap, cash settlement, expiry 02 May 2014
• Equity Swap, cash settlement, expiry 12 May 2014
• Equity Swap, cash settlement, expiry 30 May 2014
• Equity Swap, cash settlement, expiry 04 Aug. 2014
• Equity Swap, cash settlement, expiry 05 Aug. 2014
• Equity Swap, cash settlement, expiry 03 Nov. 2014
• Equity Swap, cash settlement, expiry 04 Nov. 2014
• Equity Swap, cash settlement, expiry 07 April 2015
• Equity Swap, cash settlement, expiry 18 July 2016
• Equity Swap, cash settlement, expiry 28 April 2017
• Equity Swap, cash settlement, expiry 02 Oct. 2017
• Equity Swap, cash settlement, expiry 29 Dec. 2020
• Equity Swap, cash settlement, expiry 31 Dec. 2020

Munich, 21 May 2013

The Board of Management

Correction of an announcement according to Section 25, para. 1 of the WpHG
[the German Securities Trading Act]

Wertpapierkennnummer 843002
ISIN DE0008430026

On 13 May 2013 we received the following correction of a notification dated 30 April 2013 - which we had published on 3 May 2013 - pursuant to Section 25 of the WpHG.

1. Listed company:

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 Munich, Germany

2. Notifier:

Skandinaviska Enskilda Banken AB, Stockholm, Sweden

3. Triggering event:

Falling below threshold

4. Threshold(s) crossed or reached:

5%

5. Date at which the threshold is crossed or reached:

26 April 2013

6. Total amount of voting rights:

0.00% (equals 0 voting rights)
calculated from the following total number of voting rights issued: 179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:

0.00% (equals 0 voting rights)
thereof held indirectly: 0.00% (equals 0 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:

0.04% (equals 65,700 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25 WpHG:

-

Munich, 14 May 2013

The Board of Management

Release of an announcement according to sec. 21 para. 1 of the WpHG

Wertpapierkennnummer 843002
ISIN DE0008430026

Commerzbank Aktiengesellschaft, Frankfurt am Main, Germany, has informed us according to Section 21, para. 1 of the of the German Securities Trading Act (WpHG) on 8 May 2013 that via shares its voting rights in our company had fallen below the threshold of 3% on 7 May 2013 and amounted to 0.17% (302,912 voting rights) as per this date. Thereof 0.17% (299,365 voting rights) are attributable to it in accordance with Section 22, para. 1 sentence 1 item 6 and 0.0008% (1,480 voting rights) in accordance with Section 22, para. 1 sentence 1 item 6 in connection with sentence 2 of the WpHG.

Munich, 10 May 2013

The Board of Management

Release of an announcement according to Section 25, para. 1 of the WpHG

Wertpapierkennnummer 843002
ISIN DE0008430026

We received the following notification pursuant to sec. 25, para. 1 of the WpHG on 8 May 2013

1. Listed company:
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 Munich, Germany

2. Notifier: Commerzbank Aktiengesellschaft, Frankfurt am Main, Germany

3. Triggering event:
Falling below threshold

4. Threshold(s) crossed or reached:
5%

5. Date at which the threshold is crossed or reached:
7 May 2013

6. Total amount of voting rights:
0% (equals 0 voting rights)
calculated from the following total number of voting rights issued: 179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
0% (equals 0 voting rights)
thereof held indirectly: 0% (equals 0 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
0.17% (equals 302,912 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25 WpHG:
-

Munich, 10 May 2013

The Board of Management

Release of an announcement according to Section 25a, para. 1 of the WpHG
[the German Securities Trading Act]

Wertpapierkennnummer 843002
ISIN DE0008430026

We received the following notification pursuant to sec. 25a para. 1 WpHG on 8 May 2013:

1. Listed company:
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 Munich, Germany

2. Notifier:
Commerzbank Aktiengesellschaft, Frankfurt am Main, Germany

3. Triggering event:
Falling below threshold

4. Threshold(s) crossed or reached:
5%

5. Date at which the threshold is crossed or reached:
7 May 2013

6. Total amount of voting rights:
0.93% (equals 1,670,850 voting rights)
calculated from the following total number of voting rights issued: 179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:
0.76% (equals 1,367,938 voting rights)
thereof held indirectly: 0% (equals 0 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
0% (equals 0 voting rights)
thereof held indirectly: 0% (equals 0 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
0.17% (equals 302,912 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
-

ISIN or name/description of the financial/other instrument:

• Put-Option with physical delivery, expiry 17 May 2013
• Put-Option with physical delivery, expiry 21 June 2013
• Put-Option with physical delivery, expiry 20 Sept. 2013
• Put-Option with physical delivery, expiry 20 Dec. 2013
• Put-Option with physical delivery, expiry 21 March 2014
• Put-Option with physical delivery, expiry 20 June 2014
• Put-Option with physical delivery, expiry 19 Dec. 2014
• Equity Futures, maturity 17 May 2013

Munich, 10 May 2013

The Board of Management

Release of an announcement according to sec. 21 para. 1 and sec. 24 of the WpHG

Wertpapierkennnummer 843002
ISIN DE0008430026

Skandinaviska Enskilda Banken AB, Stockholm, Sweden, has informed us according to Section 21, para. 1 of the of the German Securities Trading Act (WpHG) that via shares its voting rights in our company had exceeded the threshold of 3% on 23 April 2013 and amounted to 4.29% (7,694,094 voting rights) as per this date. Thereof 4.2255% (7,577,985 voting rights) are attributable to it in accordance with Section 22, para. 1 sentence 1 item 1 of the WpHG and are held i.a. by SEB AG, Germany, which is a controlled undertaking holding 3% or more of the voting rights in our company.

At the same time SEB AG, Frankfurt, Germany, has informed us according to Section 21, para. 1 of the of the German Securities Trading Act (WpHG) that via shares its voting rights in our company had exceeded the threshold of 3% on 23 April 2013 and amounted on that day to 4.19% (7,517,285 voting rights).

Additionally Skandinaviska Enskilda Banken AB, Stockholm, Sweden, has informed us according to Section 21, para. 1 of the of the German Securities Trading Act (WpHG) that via shares its voting rights in our company had fallen below the threshold of 3% on 26 April 2013 and amounted to 0.04% (65,700 voting rights) as per this date. Thereof 0.04% (65,700 voting rights) are attributable to it in accordance with Section 22, para. 1 sentence 1 item 1 of the WpHG.

Furthermore SEB AG, Frankfurt, Germany, has informed us according to Section 21, para. 1 of the of the German Securities Trading Act (WpHG) that via shares its voting rights in our company had fallen below the threshold of 3% on 26 April 2013 and amounted on that day to 0.003% (5,000 voting rights).

Munich, 3 May 2013

The Board of Management

Release of an announcement according to Section 25, para. 1 of the WpHG
[the German Securities Trading Act]

Wertpapierkennnummer 843002
ISIN DE0008430026

We received the following notifications pursuant to sec. 25, para. 1 of the WpHG:

Notification I:

1. Listed company:
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Deutschland

2. Notifier:
Skandinaviska Enskilda Banken AB, Stockholm, Sweden

3. Triggering event:
Exceeding threshold

4. Threshold(s) crossed or reached:
5%

5. Date at which the threshold is crossed or reached:
23 April 2013

6. Total amount of voting rights:
5.9228% (equals 10,621,998 voting rights)
calculated from the following total number of voting rights issued:
179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
1.6326% (equals 2,927,904 voting rights)
thereof held indirectly: 1.0004% (equals 1,794,146 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
4.2902% (equals 7,694,094 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25 WpHG:

Chain of controlled undertakings:
SEB AG, Germany

ISIN or name/description of the financial/other instrument:
Positions result from unlimited retransfer rights of securities lending
Maturity: after call
Exercise period: Anytime till call

Notification II:

1. Listed company:
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Deutschland

2. Notifier:
SEB AG, Frankfurt, Deutschland

3. Triggering event:
Exceeding threshold

4. Threshold(s) crossed or reached:
5%

5. Date at which the threshold is crossed or reached:
23 April 2013

6. Total amount of voting rights:
5.19% (equals 9,311,431 voting rights)
calculated from the following total number of voting rights issued:
179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
1.00% (equals 1,791,146 voting rights)
thereof held indirectly: 0% (equals 0 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
4.19% (equals 7,517,285 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25 WpHG:

Chain of controlled undertakings:
-

ISIN or name/description of the financial/other instrument:
Positions result from unlimited retransfer rights of securities lending
Maturity: after call
Exercise period: Anytime till call

Notification III:

1. Listed company:
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Deutschland

2. Notifier:
Skandinaviska Enskilda Banken AB, Stockholm, Sweden

3. Triggering event:
Falling below threshold

4. Threshold(s) crossed or reached:
5%

5. Date at which the threshold is crossed or reached:
26 April 2013

6. Total amount of voting rights:
0.04% (equals 65,700 voting rights)
calculated from the following total number of voting rights issued:
179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
0.00% (equals 0 voting rights)
thereof held indirectly: 0.00% (equals 0 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
0.04% (equals 65,700 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25 WpHG:

-

Notification IV:

1. Listed company:
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Deutschland

2. Notifier:
SEB AG, Frankfurt, Deutschland

3. Triggering event:
Falling below threshold

4. Threshold(s) crossed or reached:
5%

5. Date at which the threshold is crossed or reached:
26 April 2013

6. Total amount of voting rights:
0% (equals 0 voting rights)
calculated from the following total number of voting rights issued:
179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
0.00% (equals 0 voting rights)
thereof held indirectly: 0.00% (equals 0 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
0.003% (equals 5,000 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25 WpHG:

-

Munich, 3 May 2013

The Board of Management

Release of an announcement according to Section 25a, para. 1 of the WpHG
[the German Securities Trading Act]

Wertpapierkennnummer 843002
ISIN DE0008430026

We received the following notifications pursuant to sec. 25a para. 1 WpHG:

Notification I:

1. Listed company:
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Deutschland

2. Notifier:
Skandinaviska Enskilda Banken AB, Stockholm, Sweden

3. Triggering event:
Exceeding threshold

4. Threshold(s) crossed or reached:
5%

5. Date at which the threshold is crossed or reached:
23 April 2013

6. Total amount of voting rights:
6.0064% (equals 10,771,998 voting rights)
calculated from the following total number of voting rights issued:
179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:
0.0836% (equals 150,000 voting rights)
thereof held indirectly: 0.0836% (equals 150,000 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
1.6326% (equals 2,927,904 voting rights)
thereof held indirectly: 1.0004% (equals 1,794,146 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
4.2902% (equals 7,694,094 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
SEB AG, Germany

ISIN or name/description of the financial/other instrument:
Cash Settled Equity Swap
Expiry: 08 May 2013

Notification II:

1. Listed company:
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Deutschland

2. Notifier:
SEB AG, Frankfurt, Deutschland

3. Triggering event:
Exceeding Threshold

4. Threshold(s) crossed or reached:
5%

5. Date at which the threshold is crossed or reached:
23 April 2013

6. Total amount of voting rights:
5.28% (equals 9,461,431 voting rights)
calculated from the following total number of voting rights issued:
179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:
0.08% (equals 150,000 voting rights)
thereof held indirectly: 0% (equals 0 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
1.00% (equals 1,794,146 voting rights)
thereof held indirectly: 0% (equals 0 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
4.19% (equals 7,517,285 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
-

ISIN or name/description of the financial/other instrument:
Cash Settled Equity Swap
Expiry: 08 May 2013

Notification III:

1. Listed company:
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Deutschland

2. Notifier:
Skandinaviska Enskilda Banken AB, Stockholm, Sweden

3. Triggering event:
Falling below threshold

4. Threshold(s) crossed or reached:
5%

5. Date at which the threshold is crossed or reached:
26 April 2013

6. Total amount of voting rights:
0.12% (equals 215,700 voting rights)
calculated from the following total number of voting rights issued:
179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:
0.08% (equals 150,000 voting rights)
thereof held indirectly: 0.08% (equals 150,000 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
0.00% (equals 0 voting rights)
thereof held indirectly: 0.00% (equals 0 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
0.04% (equals 65,700 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
SEB AG, Germany

ISIN or name/description of the financial/other instrument:
Cash Settled Equity Swap
Expiry: 08 May 2013

  Notification IV:

1. Listed company:
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Deutschland

2. Notifier:
SEB AG, Frankfurt, Deutschland

3. Triggering event:
Falling below threshold

4. Threshold(s) crossed or reached:
5%

5. Date at which the threshold is crossed or reached:
26 April 2013

6. Total amount of voting rights:
0.09% (equals 155,000 voting rights)
calculated from the following total number of voting rights issued: 179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:
0.08% (equals 150,000 voting rights)
thereof held indirectly: 0% (equals 0 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
0.00% (equals 0 voting rights)
thereof held indirectly: 0.00% (equals 0 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
0.003% (equals 5,000 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
-

ISIN or name/description of the financial/other instrument:
Cash Settled Equity Swap
Expiry: 08 May 2013

Munich, 3 May 2013

The Board of Management

Release of an announcement according to sec. 21 para. 1 and sec. 24 of the WpHG

Wertpapierkennnummer 843002
ISIN DE0008430026

Commerzbank Aktiengesellschaft, Frankfurt am Main, Deutschland has informed us according to Section 21, para. 1 of the of the German Securities Trading Act (WpHG) on 29 April 2013 that via shares its voting rights in our company had exceeded the threshold of 3% on 23 April 2013 and amounted to 3.56% (6,377,862 voting rights) as per this date. Thereof 0.14% (245,325 voting rights) are attributable to it in accordance with Section 22, para. 1 sentence 1 item 6 and 0.0008% (1,480 voting rights) in accordance with Section 22, para. 1 sentence 1 item 6 in connection with sentence 2 of the WpHG.

Munich, 3 May 2013

The Board of Management

Release of an announcement according to Section 25, para. 1 of the WpHG
[the German Securities Trading Act]

Wertpapierkennnummer 843002
ISIN DE0008430026

We received the following notification pursuant to sec. 25, para. 1 of the WpHG on 29 April 2013

1. Listed company:
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Germany

2. Notifier:
Commerzbank Aktiengesellschaft, Frankfurt am Main, Germany

3. Triggering event:
Exceeding threshold

4. Threshold(s) crossed or reached:
5%

5. Date at which the threshold is crossed or reached:
23 April 2013

6. Total amount of voting rights:
7.64% (equals 13,698,972 voting rights)
calculated from the following total number of voting rights issued:
179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
4.08% (equals 7,321,110 voting rights)
thereof held indirectly: 0% (equals 0 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
3.56% (equals 6,377,862 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25 WpHG:

Chain of controlled undertakings:
.

ISIN or name/description of the financial/other instrument:

• Retransfer rights of lending , period: for the time being
• Call-Option with physical delivery, expiry 21 June 2013
• Call-Option with physical delivery, expiry 20 Sept. 2013
• Call-Option with physical delivery, expiry 20 Dec. 2013
• Call-Option with physical delivery, expiry 21 March 2014
• Call-Option with physical delivery, expiry 19 Dec. 2014

Munich, 3 May 2013

The Board of Management

Release of an announcement according to Section 25a, para. 1 of the WpHG
[the German Securities Trading Act]

Wertpapierkennnummer 843002
ISIN DE0008430026

We received the following notification pursuant to sec. 25a para. 1 WpHG on 29 April 2013:

1. Listed company:
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Deutschland

2. Notifier:
Commerzbank Aktiengesellschaft, Frankfurt am Main, Deutschland

3. Triggering event:
Exceeding threshold

4. Threshold(s) crossed or reached:
5%

5. Date at which the threshold is crossed or reached:
23 April 2013

6. Total amount of voting rights:
8.54% (equals 15,305,080 voting rights)
calculated from the following total number of voting rights issued:
179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:
0.90% (equals 1,606,108 voting rights)
thereof held indirectly: 0% (equals 0 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
4.08% (equals 7,321,110 voting rights)
thereof held indirectly: 0% (equals 0 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
3.56% (equals 6,377,862 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
-

ISIN or name/description of the financial/other instrument:

• Put-Option with physical delivery, expiry 17 May 2013
• Put-Option with physical delivery, expiry 21 June 2013
• Put-Option with physical delivery, expiry 20 Sept. 2013
• Put-Option with physical delivery, expiry 20 Dec. 2013
• Put-Option with physical delivery, expiry 21 March 2014
• Put-Option with physical delivery, expiry 20 June 2014
• Put-Option with physical delivery, expiry 19 Dec. 2014
• Equity Futures, maturity 17 May 2013
• Equity Futures, maturity 21 June 2013

Munich, 3 May 2013

The Board of Management

Release of an announcement according to Section 25a, para. 1 of the WpHG
[the German Securities Trading Act]

Wertpapierkennnummer 843002
ISIN DE0008430026

We received the following notifications pursuant to sec. 25a para. 1 WpHG on 30 April 2013:

Notice I:

1. Listed company:
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Germany

2. Notifier:
Credit Suisse Group AG, Zurich, Switzerland

3. Triggering event:
Exceeding threshold

4. Threshold(s) crossed or reached:
5%

5. Date at which the threshold is crossed or reached:
25 April 2013

6. Total amount of voting rights:
5.33% (equals 9,565,322 voting rights)
calculated from the following total number of voting rights issued:
179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:
3.35% (equals 6,003,159 voting rights)
thereof held indirectly: 3.35% (equals 6,003,159 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
0.22% (equals 392,444 voting rights)
thereof held indirectly: 0.22% (equals 392,444 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
1.77% (equals 3,169,719 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
Credit Suisse AG, Credit Suisse International, Credit Suisse Investments
(UK), Credit Suisse Investment Holdings (UK), Credit Suisse Securities
(Europe) Limited

ISIN or name/description of the financial/other instrument:

• Call Option, cash settlement, expiry 28 June 2013
• Call Option, cash settlement, expiry 30 June 2014
• Call Option, cash settlement, expiry 30 June 2015
• Call Option, cash settlement, expiry 30 June 2016
• Equity Swap, cash settlement, expiry 02 May 2013
• Equity Swap, cash settlement, expiry 08 May 2013
• Equity Swap, cash settlement, expiry 09 May 2013
• Equity Swap, cash settlement, expiry 16 May 2013
• Equity Swap, cash settlement, expiry 05 July 2013
• Equity Swap, cash settlement, expiry 10 Feb. 2014
• Equity Swap, cash settlement, expiry 02 May 2014
• Equity Swap, cash settlement, expiry 30 May 2014
• Equity Swap, cash settlement, expiry 04 June 2014
• Equity Swap, cash settlement, expiry 27 June 2014
• Equity Swap, cash settlement, expiry 04 Aug. 2014
• Equity Swap, cash settlement, expiry 08 Sept. 2014
• Equity Swap, cash settlement, expiry 07 April 2015
• Equity Swap, cash settlement, expiry 28 April 2017
• Equity Swap, cash settlement, expiry 02 Oct. 2017
• Equity Swap, cash settlement, expiry 29 Dec. 2020
• Equity Swap, cash settlement, expiry 31 Dec. 2020

Notice II:

1. Listed company:
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Germany

2. Notifier:
Credit Suisse AG, Zurich, Switzerland

3. Triggering event:
Exceeding Threshold

4. Threshold(s) crossed or reached:
5%

5. Date at which the threshold is crossed or reached:
25 April 2013

6. Total amount of voting rights:
5.33% (equals 9,565,322 voting rights)
calculated from the following total number of voting rights issued:
179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:
3.35% (equals 6,003,159 voting rights)
thereof held indirectly: 3.35% (equals 6,003,159 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
0.22% (equals 392,444 voting rights)
thereof held indirectly: 0.10% (equals 182,444 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
1.77% (equals 3169719 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
Credit Suisse International, Credit Suisse Investments (UK), Credit Suisse
Investment Holdings (UK), Credit Suisse Securities (Europe) Limited

ISIN or name/description of the financial/other instrument:

• Call Option, cash settlement, expiry 28 June 2013
• Call Option, cash settlement, expiry 30 June 2014
• Call Option, cash settlement, expiry 30 June 2015
• Call Option, cash settlement, expiry 30 June 2016
• Equity Swap, cash settlement, expiry 02 May 2013
• Equity Swap, cash settlement, expiry 08 May 2013
• Equity Swap, cash settlement, expiry 09 May 2013
• Equity Swap, cash settlement, expiry 16 May 2013
• Equity Swap, cash settlement, expiry 05 July 2013
• Equity Swap, cash settlement, expiry 10 Feb. 2014
• Equity Swap, cash settlement, expiry 02 May 2014
• Equity Swap, cash settlement, expiry 30 May 2014
• Equity Swap, cash settlement, expiry 04 June 2014
• Equity Swap, cash settlement, expiry 27 June 2014
• Equity Swap, cash settlement, expiry 04 Aug. 2014
• Equity Swap, cash settlement, expiry 08 Sept. 2014
• Equity Swap, cash settlement, expiry 07 April 2015
• Equity Swap, cash settlement, expiry 28 April 2017
• Equity Swap, cash settlement, expiry 02 Oct. 2017
• Equity Swap, cash settlement, expiry 29 Dec. 2020
• Equity Swap, cash settlement, expiry 31 Dec. 2020

Munich, 3 May 2013

The Board of Management

Release of an announcement according to Section 25a, para. 1 of the WpHG
[the German Securities Trading Act]

Wertpapierkennnummer 843002
ISIN DE0008430026

We received the following notification pursuant to sec. 25a, para.1 WpHG:

1. Listed company:
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107, 80802 München, Germany

2. Notifier:
Société Générale SA, Paris, Frankreich

3. Triggering event:
Exceeding Threshold

4. Threshold(s) crossed or reached:
5%

5. Date at which the threshold is crossed or reached:
18.01.2013

6. Total amount of voting rights:
5.97% (equals 10,709,149 voting rights) calculated from the following total number of voting rights issued:
179,341,212

7. Detailed information on the voting rights proportion:

Voting rights proportion based on financial/other instruments pursuant to sec. 25a WpHG:
5.544% (equals 9,943,603 voting rights)
thereof held indirectly: 2.70% (equals 4,849,000 voting rights)

Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG:
0.204% (equals 366,143 voting rights)
thereof held indirectly: 0% (equals 0 voting rights)

Voting rights pursuant to sec. 21, 22 WpHG:
0.22% (equals 399,403 voting rights)

8. Detailed information on financial/other instruments pursuant to sec. 25a WpHG:

Chain of controlled undertakings:
Société Générale Effekten GmbH, Frankfurt a.M., Deutschland

ISIN or name/description of the financial/other instruments:

§ 25a WpHG:

• Future, Maturity 15.03.2013
• DE0008173535 Listed Call Warrant, Maturity: 03.01.2025
• DE000GS1P4Y7 Listed Call Warrant, Maturity: 19.06.2013
• DE000GS5QC56 Listed Call Warrant, Maturity: 20.06.2013
• DE000VT244Q3 Listed Call Warrant, Maturity: 21.06.2013
• DE000SG26ZL3 Listed Call Warrant, Maturity: 19.12.2014
• DE000SG26ZI7 Listed Call Warrant, Maturity: 19.12.2014
• DE000SG26ZK5 Listed Call Warrant, Maturity: 19.12.2014
• DE000SG3UKT2 Listed Call Warrant, Maturity: 19.12.2014
• DE000SG3UKU0 Listed Call Warrant, Maturity: 19.12.2014
• DE000SG12HK3 Listed Call Warrant, Maturity: 18.12.2015
• DE000SG2AKN9 Listed Call Warrant, Maturity: 18.12.2015
• DE000SG2HP71 Listed Call Warrant, Maturity: 18.12.2015
• DE000SG2HP89 Listed Call Warrant, Maturity: 18.12.2015
• DE000SG12HJ5 Listed Call Warrant, Maturity: 18.12.2015
• DE000SG3UKV8 Listed Call Warrant, Maturity: 18.12.2015
• DE000SG3UKW6 Listed Call Warrant, Maturity: 18.12.2015
• DE000SG2MB05 Listed Call Warrant, Maturity: 05.01.2015
• DE000SG2WUV5 Listed Call Warrant, Maturity: 05.01.2015
• DE000SG2WUW3 Listed Call Warrant, Maturity: 05.01.2015
• DE000SG3AVM6 Listed Call Warrant, Maturity: 05.01.2015
• DE000SG2LXN9 Listed Call Warrant, Maturity: 16.12.2016
• DE000SG2LXP4 Listed Call Warrant, Maturity: 16.12.2016
• DE000SG2LXQ2 Listed Call Warrant, Maturity: 16.12.2016
• DE000SG3UKX4 Listed Call Warrant, Maturity: 16.12.2016
• DE000SG3UKY2 Listed Call Warrant, Maturity: 16.12.2016
• DE000SG2WBX1 Listed Call Warrant, Maturity: 15.12.2017
• DE000SG26ZM1 Listed Call Warrant, Maturity: 15.12.2017
• DE000SG2WBY9 Listed Call Warrant, Maturity: 15.12.2017
• DE000SG1CV87 Listed Call Warrant, Maturity: 03.01.2025
• DE000SG3HXM7 Listed Call Warrant, Maturity: 03.01.2025
• DE000SG3N8H3 Listed Call Warrant, Maturity: 03.01.2025
• DE000BN9YFH6 Certificate, Maturity: 20.12.2013
• DE000UU722K9 Certificate, Maturity: 19.04.2013
• DE000UU8B1M4 Certificate, Maturity: 15.03.2013
• Certificate *
• Certificate *
• Structured Call Option, Maturity: 17.05.2013
• Structured Call Option, Maturity: 19.12.2014
• Structured Call Option, Maturity: 02.01.2015
• Structured Call Option, Maturity: 05.01.2015
• Structured Call Option, Maturity: 18.12.2015
• Structured Call Option, Maturity: 16.12.2016
• Structured Call Option, Maturity: 15.12.2017
• Structured Call Option, Maturity: 03.01.2025

§ 25 WpHG:

• Listed Call Option *, Maturity: 15.03.2013
• Listed Call Option *, Maturity: 21.06.2013
• Listed Call Option *, Maturity: 20.09.2013
• Listed Call Option *, Maturity: 20.12.2013
• Listed Call Option *, Maturity: 20.06.2014
• Listed Call Option *, Maturity: 19.12.2014
• Structured Call Option, Maturity: 15.03.2013
• Structured Call Option, Maturity: 21.06.2013
• Structured Call Option, Maturity: 20.09.2013
• Structured Call Option, Maturity: 20.12.2013

* ISIN Code to be provided

Munich, 25 January 2013

The Board of Management