COREALCREDIT BANK AG

LEGAL AND ARBITRATION PROCEEDINGS
The following includes an overview on the legal, governmental and arbitration proceedings the
Issuer is involved or was involved in during the last twelve months and which may have a
significant impact on the Issuer's economic position or profitability:
Proceedings relating to Profit Participation Certificates
The legal proceedings mainly focussed on lawsuits against the Issuer from holders of profit
participation certificates (Genussscheininhaber).
Since 2005 holders of profit participation certificates have participated in losses. The calculation of
the loss participation or the replenishment of the profit participation certificates was based on the
interpretation of the terms and conditions of the underlying contracts. For details hereto reference
is made to the notes to the accounts (Anhang) of the financial statements (Jahresabschluss) for
the year 2011.
� Certain holders of profit participation certificates sued the Issuer for damages in 2006 and
2007 for losses on their investments. As the claims were combined with an application
under the German Capital Markets Model Case Act (Kapitalanleger-
Musterverfahrensgesetz, KapMuG), a class action (Sammelklage) has been instituted. In
September 2008, according to the provisions of the KapMuG, the regional court
(Landgericht) of Frankfurt am Main referred the case to the higher regional court
(Oberlandesgericht) of Frankfurt am Main. As at 1 April 2012 no court hearings have taken
place in the higher regional court of Frankfurt am Main.
� In the fourth quarter of 2008 and at the beginning of the financial years 2009 and 2010,
several holders of profit participation certificates commenced court proceedings against the
Issuer. Some of such holders of profit participation certificates did not continue to
prosecute their so alleged claims. Certain of the remaining proceedings were decided in
favour of the Issuer; however, the majority of these proceedings have been suspended ex
officio pursuant to the regulations of the German Capital Markets Model Case Act
(Kapitalanleger-Musterverfahrensgesetz, "KapMuG"); a small number of the proceedings
have not yet (up to and including 1 April 2012) been suspended in accordance with the
KapMuG.
However, based on its own legal analysis, the Issuer does not consider the arguments submitted
in the above-mentioned legal disputes to be valid on the merits. Said proceedings are expected to
last for several years. If the legal actions brought in connection with the profit participation
certificates be ultimately upheld, this would lead to a reduction in equity and could also result in an
outflow of liquidity affecting business performance.
� In the financial year 2008, holders of profit participation certificates commenced another
action seeking the performance of obligations under profit participation certificates and
declaration that the redemption claims under unmatured certificates had not been reduced
by losses up to and including the financial year 2008. This legal action does not participate
in the above-mentioned class action. The claim is essentially based on arguments used in
previous actions. Based on its own legal analysis, the Issuer is of the opinion that the
arguments submitted to the court in this case are also not well-founded. The case has
been heard in separate proceedings due to different venues (Frankfurt am Main Regional
Court/Landgericht Frankfurt am Main; Cologne Regional Court/Landgericht Köln). Only in
one of these proceedings (Cologne Regional Court/Landgericht Köln) has the court of first
instance already rendered a judgment; against this judgment the claimants have filed an
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