Company Engagements

SHAREHOLDER LETTER

mercedes-benz group

Following the publication of a white paper by the United Auto Workers alleging interference with workers’ labor rights in Alabama and New York, SOC Investment Group wrote to Mercedes-Benz Group asking them to reaffirm their commitment to respect labor rights, as outlined in the Company’s Principles of Social Responsibility and Human Rights. We also asked that they meet with us to explain their human rights due diligence processes to ensure that the practices of their US subsidiaries are in alignment with their stated principles. In response, Mercedes affirmed its commitment in a March 16, 2026 letter to us, stating:

As Mercedes-Benz Group we are firmly committed to maintaining positive labor relations and upholding our Integrity Code and the Principles of Social Responsibility and Human Rights. With the publication of our revised principles in December 2025, we affirm our commitment to respecting human- and labor rights across all our group companies.

We were pleased that they reaffirmed their commitment and will be monitoring the situation in the US going forward. They did not fulfill our request for a meeting, however, and did not adequately explain how they were addressing the allegations. Subsequently, SOC Investment Group wrote a letter to Mercedes shareholders urging them to vote against Agenda Item 3: Resolution on the ratification of Board of Management members’ actions and Item 4: Resolution on the ratification of Supervisory Board members’ actions at the 2026 Annual Meeting.

SOC Investment Group urges Mercedes-Benz Shareholders to Vote NO on Board of Management and Supervisory Board’s Actions