Dear Shareowners

I believe that all of you are safe and healthy together with your respective familiesas the past few months have been very challenging due to the coronavirus pandemic. Thishas caused great uncertainty all over the globe for each and every one of us. So far wehave already lost more than a month's operations to the pandemic in the current fiscal2020/21 and are moving ahead with caution in order to mitigate its' impact in the comingmonths.

At Voith ‘safety' of our employees continues to be the top most priority and thelocal management of your company closely monitors the implementation of ‘safetymeasures' to remain accident free. I am happy to report that your company has maintained a‘zero injury frequency rate' in its operations for more than 11 years in a row whichis quite commendable. We remain committed to provide our employees a safe and secure workenvironment and expect them to observe prudent behaviour at work to achieve this goal.

I am glad to inform you that the performance of your company has not only remainedstable but also registered reasonable growth in the year 2019/20 despite the closure ofits operations for about last 10 days of the year due to lockdown imposed in the regionowing to the pandemic.

I would like to express my appreciation and thank everyone associated with the companywho contributed in delivering such a performance.

The global demand for paper continues to show a growing trend with the increasing focuson education e-commerce and hygiene coupled with anticipated economic growth - which is agood sign for the future of your company as well.

To continue profitable growth we intend to put in place systems to be valued as adifferentiator amongst our customers - providing sustainable and efficient papermakingsolutions from single source. Voith Group is committed to strengthen its role in thecircular economy of sustainable technologies and to become carbon neutral in the nearfuture.

I look forward to your continued patronage to successfully move ahead in future bypreparing ourselves to be vigilant about the needs of our customers and to be able to meettheir expectations by bringing about the desired solutions.

Lastly I wish to thank all stakeholders of the company for their continuing supportthat enabled your company to perform reasonably well and look forward to virtually meetyou at the forthcoming Annual General Meeting of your company in accordance with the locallegal provisions announced by the regulators for the purpose.

Warm regards

Benno Edmund Morlock