3. Board of Directors

3.1 Members of the Board of Directors

Art. 18 of the Articles of Association provides that the Board of Directors shall consist of a minimum of three members, including the chair of the Board (“Chair”). Currently, the Board consists of the following nine members:

At the annual general meeting of the Company (“Annual General Meeting” or “AGM”) on April 8, 2025 (“Annual General Meeting 2025” or “AGM 2025”), six of the previous members of the Board were re-elected¹ and three new members were elected, each for a one-year term of office.

All current members of the Board of Directors are non-executive directors. No members of the Board of Directors were members of the management of the Company or a subsidiary of the Group in the three years preceding the year under review. The Board of Directors determines independence annually in accordance with the Company’s independence criteria set forth in the Organizational Regulations. Pursuant to the Company’s independence criteria and based on the last assessment performed before the AGM 2026, all members of the Board of Directors are deemed to be independent, except for Abdallah al Obeikan.

1 Wah-Hui Chu, Laurens Last, Andreas Umbach and Matthias Währen did not stand for re-election at the AGM 2025 and, hence, their tenure ended on April 8, 2025. The relevant details relating to Wah-Hui Chu, Laurens Last, Andreas Umbach and Matthias Währen can be found at https://reports.sig.biz/annual-report-2024/_assets/downloads/entire-sig-ar24.pdf.

Ola Rollén

Ola Rollén is a Swedish citizen and has served as Chair of the Board of Directors since April 2025. He is also the founder and chief executive officer of Greenbridge Holdings (since 2024). Mr. Rollén has further served as chair of the board of directors of Hexagon AB (STO:HEXA B) (since 2023) and Nstech (since 2022), as well as a member of the board of directors of Neo4J (since 2024) and of Divergent 3D Technologies (since 2022). Previously, Mr. Rollén served as chair of the board of directors of Greenbridge Holdings (from 2016 to 2024) and as president and chief executive officer of Hexagon AB (STO:HEXA B) (from 2000 to 2023). Prior to that, he served as president of Sandvik Materials Technology and as a member of the group management of Sandvik Group (STO:SAND) (from 1999 to 2000). He also served as a member of the board of directors of Vestas Wind Systems (from 2009 to 2011). Mr. Rollén holds a BSc in business administration and economics from the University of Stockholm, Sweden.

Werner Bauer

Werner Bauer is a Swiss and German citizen and has served as a member of the Board of Directors since the IPO. From 2015 until the IPO, he served as an advisory member of the Board for the Company. Mr. Bauer has also served as vice chair of the board of directors of Bertelsmann SE & Co. KGaA (BTG4: FRA) (since 2012). Previously, Mr. Bauer served as member and vice chair of the board of directors of Givaudan SA (SIX: GIVN) (from 2014 to 2023) and as chair of the board of trustees of the Bertelsmann Foundation (from 2011 to 2025). He further served as a member of the board of directors of Lonza Group AG (SIX: LONN) (from 2013 to 2022), as a member of the advisory board of SIG Combibloc Group (from 2015 to 2018) and as a member of the board of directors of GEA-Group AG (from 2011 to 2018). Prior to that, he served as chair of the board of directors of Nestlé Deutschland AG (from 2005 to 2017) as well as chair of the board of directors of Galderma Pharma SA (from 2011 to 2014). Additionally, Mr. Bauer was executive vice president and head of innovation, technology, research & development at Nestlé SA (SIX: NESN) (from 2007 to 2013), and prior to that he served as executive vice president and head of technical, production, environment, research & development for Nestlé SA and held other positions within Nestlé. Furthermore, Mr. Bauer served as chair of the board of directors of Sofinol S.A. (from 2006 to 2012), as a member of the board of directors of L’Oréal SA (XFRA: LOR) (from 2005 to 2012) and as a member of the board of Alcon Inc. (NYSE: ALC) (from 2002 to 2010). Mr. Bauer holds a diploma and a PhD in chemical engineering from the University of Erlangen-Nürnberg, Germany.

Niren Chaudhary

Niren Chaudhary is a US and British citizen and has served as a member of the Board of Directors since April 2025. He is also the founder and chief executive officer of RA-inspired leadership LLC (since 2024). Mr. Chaudhary has further served as a member of the advisory board of the Global Peter Drucker Forum (since 2024), as an executive coach at The ExCo Group (since 2024), and as an executive in residence at Columbia Business School (since 2023). Prior to this, Mr. Chaudhary served as chair of the board of directors of Panera Brands (from 2023 to 2024) and as a member of the board of directors of DKMS Group (from 2023 to 2024) and of Tufts Hospital (from 2021 to 2023). He also served as chief executive officer of Panera Brands (from 2019 to 2023) and previously held the position of chief operating officer and president international of Krispy Kreme (from 2017 to 2019). Earlier in his career, Mr. Chaudhary held various roles at Yum! Brands, including president international of KFC (from 2015 to 2017) and president of Yum India (from 2007 to 2015). Mr. Chaudhary holds a BA in Economics and an MBA from Delhi University, India. He also completed the advanced leadership initiative at Harvard University, USA, and the advanced management program at Harvard Business School, USA.

Thomas Dittrich

Thomas Dittrich is a Swiss and German citizen and has served as a member of the Board of Directors since April 2024. He currently holds the position of chief financial officer of Galderma Group AG (SIX: GALD) (since 2019). Mr. Dittrich has also served as a member of the board of the Förderverein des Instituts für Finanzdienstleistungen Zug (IFZ) at Lucerne University of Applied Sciences and Arts (since 2022). Prior to this, Mr. Dittrich served as chief financial officer and executive member of the board of directors of Shire plc (LON: SHP) (from 2018 to 2019). He also served as chief financial officer and member of the executive committee, as well as chief executive officer ad interim of Sulzer AG (SIX: SUN) (from 2014 to 2018). In addition, Mr. Dittrich served as vice president, finance corporate planning and chief accounting officer of Amgen Inc. (NASDAQ: AMGN), and as chief financial officer of Amgen International (from 2006 to 2014). Mr. Dittrich further held various finance and general manager positions at Dell Technologies Inc (NYSE: DELL) (from 1998 to 2006). Mr. Dittrich holds an MSc in mechanical engineering and robotics from Munich Technical University, Germany and a Master’s in finance, controlling and accounting from the University of St. Gallen, Switzerland.

Mariel Hoch

Mariel Hoch is a Swiss and German citizen and has served as a member of the Board of Directors since the IPO. Ms. Hoch has been a partner at the Swiss law firm Bär & Karrer since 2012. She has further served as a member and vice chair of the board of directors of Comet Holding AG (SIX: COTN) (since 2016), where she also chairs the nomination and compensation committee. Furthermore, she has served as a member of the board of directors of Komax Holding AG (SIX: KOMN) (since 2019), where she also serves as a member of the audit committee, and has further served as a member of the board of directors of MEXAB AG (since 2014). Additionally, she has also served as a member of the foundation board of The Schörling Foundation (since 2013), as a member of the foundation board of the Irene M Staehelin Foundation (since 2020), as a member of the Law and Economics Foundation St. Gallen (since 2020), and as a member of the foundation board of the Orpheum Foundation (since 2023). Previously, Ms. Hoch served as a member of the board of directors of Adunic AG (from 2015 to 2018). Ms. Hoch also served as co-chair of the Zurich Committee of Human Rights Watch (from 2017 to 2021). Ms. Hoch was admitted to the Zurich bar in 2005 and holds a law degree and a PhD from the University of Zurich, Switzerland.

Florence Jeantet

Florence Jeantet is a French citizen and has served as a member of the Board of Directors since April 2023. She has further served as a member of the Association des Conseillers du Commerce Exterieure de la France (since 2013), where she has served in various functions including as chair of the Ethics Committee (Comité d’Éthique) (since 2021 as member, since 2024 as chair) and previously as chair of the national Dutch Committee (Comité des Pays Bas) (from 2017 to 2021). Ms. Jeantet has further served as a member of the board of directors of Mérieux NutriSciences (since 2024) and as a member of the supervisory board of Atlantic Grupa (ATGR-R-A) (since 2025). Additionally, she has served as official representative (chef d’exploitation) of SCEA La Calmontaise (since 2023), as well as a member of the mission committee of Citwell (since 2025), and has acted as an independent advisor in the field of ESG/sustainability. Prior to that, Ms. Jeantet was with Danone SA (XPAR.: BN) (from 2004 to 2023), where she held various leadership positions including SVP-OP2B general manager, SVP Danone 2025 & health mission, chief growth officer, Danone worldwide business unit early life nutrition, vice president medical, quality and R&D, Danone early life nutrition, vice president, R&D, Danone baby nutrition, vice president, R&D, Danone waters division and ultimately senior vice president, chief sustainability officer. Before that, Ms. Jeantet held various leadership positions at Unilever NV (XAMS: UNAT) in France, the Netherlands, and Russia (from 1991 to 2004). Ms. Jeantet holds a Master’s in food science and technology engineering from Polytech Montpellier, France. Ms. Jeantet further holds a Certificate d’Administrateur de Sociétés from Sciences Po-IFA, Paris, France, as well as a European Board Diploma from ecoDa/ICGN, France/UK. She also completed the Women on Boards Program at Harvard Business School, USA. She was further awarded the title of Knight of the Order of Merit in France.

Abdallah al Obeikan

Abdallah al Obeikan is a Saudi Arabian citizen and has served as a member of the Board of Directors since April 2021. Mr. al Obeikan has also served as a member of the board of directors of Arabian Shield Cooperative Insurance Company (TADAWUL: 8070) (since 2012) and as a member of the board of directors and CEO of the Obeikan Investment Group (OIG) (since 2000). In addition, Mr. al Obeikan has served as chair of Obeikan AGC Glass Company (TADAWUL: OBEIKAN GLASS) (since 2011), as chair of Riyadh Polytechnic Institute (since 2009), as member of the board of directors of National Water Company (since 2018), and as chairman of the Riyadh Chamber of Commerce (since 2024). Prior to that, Mr. al Obeikan served as member of the board of directors of Social Development Bank (from 2017 to 2022). Furthermore, he served as CEO of the SIG Combibloc Obeikan joint venture companies (from 2000 to 2021). Mr. al Obeikan holds a BSc in electrical engineering from King Saud University, Riyadh, K.S.A.

Urs Riedener

Urs Riedener is a Swiss citizen and has served as a member of the Board of Directors since April 2025. He has further served as chair of the board of directors of Emmi AG (XSWX: EMMN) (since 2023) and as a member of the board of directors of Sandoz Group AG (XSWX: SDZ) (since 2023) and of Bystronic AG (SIX:BYS) (since 2014). In addition, Mr. Riedener has served as a member of the board of directors of Tischlein deck dich Association (since 2024) and as a member of the supervisory board of Schwarz Gruppe (Schwarz Unternehmenstreuhand KG) (since 2022). He has also served as a member of the advisory board of the Institute for Marketing and Customer Insight (since 2008) and the Institute of Management and Strategy (since 2025) at the University of St. Gallen. Previously, Mr. Riedener served as chief executive officer of Emmi AG (XSWX: EMMN) (from 2008 to 2022) and held various roles at Migros-Genossenschafts-Bund (from 2000 to 2008), including head of marketing and member of the executive board, as well as head of marketing food & near food. Before that, he held various positions at Lindt & Sprüngli (XSWX: LISN) (from 1995 to 2000) and at Kraft Jacobs Suchard (from 1992 to 1995). Mr. Riedener holds a lic.oec. HSG from the University of St. Gallen, Switzerland and completed the executive program at Stanford University, USA.

Martine Snels

Martine Snels is a Belgian citizen and has served as a member of the Board of Directors since April 2021. Ms. Snels has also served as a member of the supervisory board of Prodrive Technologies (since 2023) and as a member of the board of directors of Electrolux Professional AB (XSTO: EPRO B) (since 2019). In addition, Ms. Snels is the founder and CEO of L’Advance BV (since 2020) and has served as a member of the advisory board (Beiratsmitglied) of Zentis Fruchtwelt GmbH & Co. KG (since 2021) and as a member of the advisory board (Beiratsmitglied) of Viega Holding GmbH & Co. KG (since 2025). Previously, Ms. Snels served as a member of the supervisory board of URUS Group LLC (from 2021 to 2023). She also served as a member of the supervisory board of VION Food Group NV (from 2020 to 2022) and as a member of the board of directors of Resilux NV (from 2019 to 2022). Prior to that, she served as a member of the executive board of GEA Group AG (from 2017 to 2020) and held various leadership roles at Royal Friesland Campina NV (from 2012 to 2017), including member of the executive board as C.O.O. Ingredients (from 2015 to 2017), Nutreco NV (from 2003 to 2012) and Kemin Industries (from 1996 to 2003). Ms. Snels holds an MSc in agricultural engineering from K.U. Leuven, Belgium.

As of December 31, 2025, there are no material business relationships of any Board member with the Company or with any subsidiary or joint venture company.

The Company aims to have a well-balanced Board of Directors with individuals who bring a variety of perspectives, backgrounds, and skills, and who apply them to permit the Board of Directors to offer informed stewardship. The Board skill matrix below summarizes the current set of skills/traits grouped into 13 categories:

Board skill matrix

3.2 Number of permissible activities

In the interest of good governance, art. 28 para. 1 of the Articles of Association limits the number of outside mandates of the members of our Board as follows:

1. up to four mandates in listed firms; and

2. up to ten mandates in non-listed firms.²

Such a mandate is deemed to be any activity in superior governing or administrative bodies of legal entities that are required to be registered in the commercial register or any comparable foreign register, other than the Company and any entity controlled by or controlling the Company. The Board of Directors shall ensure that such activities do not conflict with the exercise of their duties for the Group. Functions in various legal entities that are under joint control, or in entities in which this legal entity has a material interest, are counted as one function.

2 Pursuant to art. 727 para. 1 number 1 CO.

3.3 Election and term of office

The members of the Board of Directors are elected individually each year by the Annual General Meeting of the Company for a term of office of one year and can be re-elected. The Chair of the Board of Directors is also elected each year by the Annual General Meeting for a period of office of one year. There is no limit on the term in office. The initial election year of each Board member is shown in the table in section 3.1.

3.4 Internal organization – division of roles within the Board of Directors and working methods

The Board of Directors represents the Company vis-à-vis third parties and attends to all matters which have not been delegated to or reserved for another corporate body of the Company. The Chair convenes meetings of the Board of Directors as often as the Group’s business requires, but at least four times a year. The Chair prepares the meetings, draws up the agenda, and chairs the meetings. Any member of the Board can ask for a meeting to be convened and for the inclusion of an item on the agenda. In order to pass resolutions, not less than a majority of the Board members must be attending the meeting. Except as required by mandatory law, the Board will adopt resolutions by a simple majority of the votes cast. In case of a tie, the Chair has no casting vote. Board resolutions may also be passed in writing by way of circular resolution, provided that no member of the Board of Directors requests oral deliberation (in writing, including by email) of the Chair or the secretary. Board resolutions by means of a written resolution require the affirmative vote of a majority of all the members of the Board.