Corporate Governance Report

This Corporate Governance Report contains the information that is stipulated by the directive on information relating to corporate governance issued by SIX Swiss Exchange AG (“SIX Swiss Exchange”) and follows its structure.

Unless expressly stated otherwise, this Corporate Governance Report presents the circumstances and legal position as of the balance sheet date (31 December 2022). References to legal provisions are, therefore, references to the law applicable as of 31 December 2022. On 1 January 2023, the Swiss Corporate Law Reform (Aktienrechtsreform) came into force, which has an impact on some of the legal provisions and descriptions of the law cited in this Corporate Governance Report. Among other changes, the Ordinance against Excessive Compensation in Listed Stock Corporations (VegüV) was repealed as of 1 January 2023 and its provisions were transferred to the Swiss Code of Obligations with certain amendments. Articles of association and organisational regulations that do not comply with the revised provisions must be adapted to the revised provisions within a transitional period of two years from the entry into force of the Swiss Corporate Law Reform (Aktienrechtsreform), ie. by 1 January 2025.