<SEC-DOCUMENT>0001615774-18-005153.txt : 20180612
<SEC-HEADER>0001615774-18-005153.hdr.sgml : 20180612
<ACCEPTANCE-DATETIME>20180612144134
ACCESSION NUMBER:		0001615774-18-005153
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20180608
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180612
DATE AS OF CHANGE:		20180612

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GARMIN LTD
		CENTRAL INDEX KEY:			0001121788
		STANDARD INDUSTRIAL CLASSIFICATION:	SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS [3812]
		IRS NUMBER:				980229227
		STATE OF INCORPORATION:			V8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-31983
		FILM NUMBER:		18894267

	BUSINESS ADDRESS:	
		STREET 1:		MUHLENTALSTRASSE 2
		CITY:			SCHAFFHAUSEN
		STATE:			V8
		ZIP:			CH-8200
		BUSINESS PHONE:		41 52 630 1600

	MAIL ADDRESS:	
		STREET 1:		MUHLENTALSTRASSE 2
		CITY:			SCHAFFHAUSEN
		STATE:			V8
		ZIP:			CH-8200
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>s110769_8k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UNITED
STATES</B>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Washington,
D.C. 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FORM
8-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Current
Report Pursuant to Section 13 or 15(d) of </B>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>the
Securities Act of 1934</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date
of Report (Date of earliest event reported): June 8, 2018</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>GARMIN
LTD.</B>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(Exact
name of registrant as specified in its charter)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Switzerland</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>0-31983</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>98-0229227</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(State or other
    jurisdiction</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(Commission File
    Number)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(I.R.S. Employer
    Identification No.)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>of
    incorporation)</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>M&uuml;hlentalstrasse
2</B>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>8200
Schaffhausen</B>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Switzerland</B>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address
of principal executive offices)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registrant&rsquo;s
telephone number, including area code: <B>+41 52 630 1600</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Former
name or former address, if changed since last report)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (<I>see </I>General Instruction A.2. below):</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Written
    communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</B></FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="width: 92%; font: 10pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Soliciting
    material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</B></FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="width: 92%; font: 10pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pre-commencement
    communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</B></FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%; font: 10pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="width: 92%; font: 10pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pre-commencement
    communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</B></FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
5.07. Submission of Matters to a Vote of Security Holders.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
June 8, 2018, Garmin Ltd. (&ldquo;Garmin&rdquo;) held its annual general meeting of shareholders. At the annual general
meeting, the shareholders: (i) elected Andrew Etkind as ad hoc Chairman of the meeting; (ii) approved Garmin&rsquo;s 2017
Annual Report, including the consolidated financial statements of Garmin for the fiscal year ended December 30, 2017 and the
statutory financial statements of Garmin for the fiscal year ended December 30, 2017; (iii) approved the appropriation of
available earnings; (iv) approved the payment of a cash dividend in the aggregate amount of $2.12 per share out of
Garmin&rsquo;s reserve from capital contribution in four equal installments; (v) discharged the members of Garmin&rsquo;s
Board of Directors and the members of Executive Management from liability for the fiscal year ended December 30, 2017; (vi)
re-elected Joseph J. Hartnett, Min H. Kao, Charles W. Peffer, Clifton A. Pemble and Rebecca R. Tilden and elected Jonathan C.
Burrell as directors of Garmin for a term extending until completion of the 2019 annual general meeting of shareholders;
(vii) re-elected Min H. Kao as Executive Chairman of the Board of Directors for a term extending until completion of the 2019
annual general meeting of shareholders; (viii) re-elected Joseph J. Hartnett, Charles W. Peffer and Rebecca R. Tilden and
elected Jonathan C. Burrell as members of Garmin&rsquo;s Compensation Committee for a term extending until completion of the
2019 annual general meeting of shareholders; (ix) re-elected the law firm of Reiss+Preuss LLP as Independent Proxy for a term
extending until completion of the 2019 annual general meeting of shareholders; (x) ratified the appointment of Ernst &amp;
Young LLP as Garmin&rsquo;s Independent Registered Public Accounting Firm for the 2018 fiscal year and re-elected Ernst &amp;
Young Ltd. as Garmin&rsquo;s statutory auditor for another one-year term; (xi) approved an advisory resolution approving the
compensation of Garmin&rsquo;s Named Executive Officers, as disclosed in Garmin&rsquo;s proxy statement for the 2018 annual
general meeting of shareholders pursuant to the executive compensation disclosure rules promulgated by the Securities and
Exchange Commission; (xii) approved a binding vote to approve the Fiscal Year 2019 maximum aggregate compensation for
Garmin&rsquo;s Executive Management; (xiii) approved a binding vote to approve the maximum aggregate compensation for
Garmin&rsquo;s Board of Directors for the period between the 2018 Annual General Meeting and the 2019 Annual General Meeting;
(xiv) approved the amendment to Garmin&rsquo;s Articles of Association to add the CEO, the Corporate Secretary or any person
appointed by Garmin&rsquo;s Board of Directors to the list of persons who can act as chairman of a general meeting of the
shareholders; and (xv) approved the amendment to Garmin&rsquo;s Articles of Association to authorize Garmin&rsquo;s Board of
Directors at any time until June 8, 2020 to increase the share capital in an amount not to exceed CHF 3,961,548.30 through
the issuance of up to 39,615,483 fully paid-in registered shares with a nominal value of CHF 0.10 each.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
tabulation of votes with respect to the re-election of five directors and the election of one new director was as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">For</TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">Against</TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">Abstain</TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">Not Voted</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 46%; text-align: left">Joseph H. Hartnett</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">121,743,735</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">932,926</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">50,635</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">29,022,106</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Min H. Kao</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">121,779,513</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">907,336</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">40,447</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">29,022,106</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Charles W. Peffer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">117,188,492</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">5,486,464</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">52,340</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">29,022,106</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Clifton A. Pemble</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">122,182,008</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">504,388</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">40,900</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">29,022,106</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Rebecca R. Tilden</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">117,126,584</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">5,546,144</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">54,568</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">29,022,106</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Jonathan C. Burrell</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">122,080,098</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">603,140</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">44,058</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">29,022,106</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
tabulation of votes with respect to the re-election of three members and the election of one new member of the Compensation Committee
was as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">For</TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">Against</TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">Abstain</TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">Not Voted</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 46%; text-align: left">Joseph H. Hartnett</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">122,046,849</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">621,366</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">59,081</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">29,022,106</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Charles W. Peffer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">117,985,669</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4,685,742</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">55,885</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">29,022,106</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Rebecca R. Tilden</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">115,701,581</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">6,960,648</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">65,067</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">29,022,106</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Jonathan C. Burrell</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">122,433,513</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">237,214</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">56,569</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">29,022,106</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shareholders elected Andrew Etkind as ad hoc Chairman of the meeting. The tabulation of votes on this matter was as follows: 151,366,575
votes for; 212,946 votes against; 169,881 abstentions; and 0 non-votes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shareholders approved Garmin&rsquo;s 2017 Annual Report, including the consolidated financial statements for the fiscal year ended
December 30, 2017 and the statutory financial statements for the fiscal year ended December 30, 2017. The tabulation of votes
on this matter was as follows: 151,177,776 votes for; 258,677 votes against; 312,949 abstentions; and 0 non-votes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shareholders approved the appropriation of available earnings. The tabulation of votes on this matter was as follows: 151,369,782
votes for; 164,413 votes against; 215,207 abstentions; and 0 non-votes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shareholders approved the payment of a cash dividend in the aggregate amount of $2.12 per share out of Garmin&rsquo;s reserve
from capital contribution in four equal installments. The tabulation of votes on this matter was as follows: 151,611,834 votes
for; 70,251 votes against; 67,317 abstentions; and 0 non-votes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shareholders discharged the members of Garmin&rsquo;s Board of Directors and the members of Garmin&rsquo;s Executive Management
from liability for the fiscal year ended December 30, 2017. The tabulation of votes on this matter was as follows: 117,715,392
votes for; 298,683 votes against; 4,713,221 abstentions; and 29,022,106 non-votes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shareholders re-elected Min H. Kao as Executive Chairman of the Board of Directors for a term extending until completion of the
2019 annual general meeting of shareholders. The tabulation of votes on this matter was as follows: 115,835,807 votes for; 6,845,060
votes against; 46,429 abstentions; and 29,022,106 non-votes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shareholders re-elected the law firm of Reiss+Preuss LLP as Independent Proxy for a term extending until completion of the 2019
annual general meeting of shareholders. The tabulation of votes on this matter was as follows: 151,383,306 votes for; 161,400
votes against; 204,696 abstentions; and 0 non-votes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shareholders ratified the appointment of Ernst &amp; Young LLP as Garmin&rsquo;s Independent Registered Public Accounting Firm
for the 2018 fiscal year and elected Ernst &amp; Young Ltd. as Garmin&rsquo;s statutory auditor for another one-year term. The
tabulation of votes on this matter was as follows: 150,026,725 votes for; 1,599,734 votes against; 122,943 abstentions; and 0
non-votes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shareholders approved an advisory resolution approving the compensation of Garmin&rsquo;s Named Executive Officers, as disclosed
in Garmin&rsquo;s proxy statement for the 2018 annual general meeting of shareholders pursuant to the executive compensation disclosure
rules promulgated by the Securities and Exchange Commission. The tabulation of votes on this matter was as follows: 117,580,768
votes for; 4,999,605 votes against; 146,923 abstentions; and 29,022,106 non-votes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shareholders approved a binding vote to approve the Fiscal Year 2019 maximum aggregate compensation for Garmin&rsquo;s Executive
Management. The tabulation of votes on this matter was as follows: 122,065,006 votes for; 424,327 votes against; 237,963 abstentions;
and 29,022,106 non-votes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shareholders approved a binding vote to approve the maximum aggregate compensation for Garmin&rsquo;s Board of Directors for the
period between the 2018 Annual General Meeting and the 2019 Annual General Meeting. The tabulation of votes on this matter was
as follows: 122,271,779 votes for; 219,239 votes against; 236,278 abstentions; and 29,022,106 non-votes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shareholders approved the amendment to Garmin&rsquo;s Articles of Association to add the CEO, the Corporate Secretary or any person
appointed by Garmin&rsquo;s Board of Directors to the list of persons who can act as chairman of a general meeting of the shareholders.
The tabulation of votes on this matter was as follows: 150,956,975 votes for; 352,812 votes against; 439,615 abstentions; and
0 non-votes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shareholders approved the amendment to Garmin&rsquo;s Articles of Association to authorize Garmin&rsquo;s Board of Directors at
any time until June 8, 2020 to increase the share capital in an amount not to exceed CHF 3,961,548.30 through the issuance of
up to 39,615,483 fully paid-in registered shares with a nominal value of CHF 0.10 each. The tabulation of votes on this matter
was as follows: 145,930,328 votes for; 5,364,039 votes against; 455,035 abstentions; and 0 non-votes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
8.01. Other Events</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
June 8, 2018, Garmin issued a press release, a copy of which is attached hereto as Exhibit No. 99.1 and incorporated by reference
herein, announcing that its shareholders have approved a cash dividend in the amount of $2.12 per share out of Garmin&rsquo;s
reserve from capital contribution payable in four equal installments on dates to be determined by the Board of Directors in its
discretion. The Board has determined that the first installment of $0.53 will be payable on June 29, 2018 to shareholders of record
on June 18, 2018. The Board currently expects that the dividend payment and record dates for the remaining three installments
will be as follows: $0.53 on September 28, 2018 to shareholders of record on September 14, 2018, $0.53 on December 31, 2018 to
shareholders of record on December 14, 2018 and $0.53 on March 29, 2019 to shareholders of record on March 15, 2019.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
9.01. Financial Statements and Exhibits</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
    applicable.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibits. The following
    exhibits are furnished herewith:</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 90%; border-collapse: collapse; margin-left: 1in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit
    No.</FONT></TD>
    <TD STYLE="width: 2%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 90%; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Garmin Ltd. Articles
    of Association, as amended and restated on June 8, 2018</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press
Release dated June 8, 2018 (furnished pursuant to Item 8.01)</FONT></P></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SIGNATURE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>GARMIN LTD</B>.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: June 12, 2018</FONT></TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Andrew R. Etkind</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-left: 20pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andrew R.
Etkind</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 20pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vice President, General Counsel and Corporate
Secretary</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXHIBIT
INDEX</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit
    No.</FONT></TD>
    <TD STYLE="width: 2%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 90%; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="s110769_ex10-1.htm">10.1</A></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="s110769_ex10-1.htm">Garmin Ltd. Articles of Association, as amended and restated on June 8, 2018</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="s110769_ex99-1.htm">99.1</A></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="s110769_ex99-1.htm">Press Release dated June 8, 2018 (furnished pursuant to Item 8.01)</A>&nbsp;</FONT></P></TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <!-- Field: /Page -->


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>s110769_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><I>Final Draft</I></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Statuten</B></FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Articles
    of Association</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>der</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>of</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Garmin Ltd.</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Garmin Ltd.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(Garmin AG)</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(Garmin AG)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>mit Sitz in Schaffhausen</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>with registered
    office in Schaffhausen</B></FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>


<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">I.</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Firma, Sitz und Zweck</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>I.</I></FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Company Name, Registered Office and Objects</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>4</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 1</FONT></TD>
    <TD STYLE="width: 76%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Firma und Sitz</FONT></TD>
    <TD STYLE="text-align: right; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 1</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Company Name and Registered Office</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>4</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 2</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zweck</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 2</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Objects</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>4</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">II.</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aktienkapital und Aktien</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>II.</I></FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Share Capital and Shares</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>4</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 3</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aktienkapital</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 3</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Share Capital</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>4</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 3 a)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sacheinlage</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 3 a)</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Contribution in Kind</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>4</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 4</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anerkennung der Statuten</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 4</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Recognition of Articles of Association</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>5</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 5</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Genehmigtes Kapital</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 5</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Authorized Capital</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>5</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 6</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bedingtes Aktienkapital</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 6</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Conditional Share Capital</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>6</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 7</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aktienzertifikate</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 7</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Share Certificates</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>6</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 8</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aktienbuch, Eintragungsbeschr&auml;nkungen, Nominees</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 8</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Share Register, Restrictions on Registration, Nominees</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>7</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 9</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&Uuml;bertragung</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 9</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Transfer</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>8</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 10</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Umwandlung und Zerlegung von Aktien</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 10</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Conversion and Splitting of Shares</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>8</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 11</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bezugsrechte</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 11</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Subscription Rights</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>8</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">III.</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Organisation</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>III.</I></FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Organization</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>9</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Generalversammlung</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>A.</I></FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>The General Meeting</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>9</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 12</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Befugnisse</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 12</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Authority</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>9</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 13</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recht zur Einberufung</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 13</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Right to call a General Meeting</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>9</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 14</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form der Einberufung</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 14</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Form of the calling of a General Meeting</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>10</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 15</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Universalversammlung</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 15</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Universal Meeting</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>10</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 16</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vorsitz und Protokoll</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 16</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Chairperson and Minutes</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>11</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 17</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stimmrecht und Vertretung</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
</TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 17</I></FONT></TD>
    <TD STYLE="width: 76%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Voting Rights and Representation</I></FONT></TD>
    <TD STYLE="text-align: right; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>11</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 18</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Teilnahme der Mitglieder des Verwaltungsrates</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 18</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Participation of the Members of the Board of Directors</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>12</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 19</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beschlussfassung und Wahlen</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 19</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Resolutions and Voting</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>12</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 20</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Besonderes Stimmen-Quorum</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 20</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Special Vote</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>12</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 21</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Auskunfts- und Einsichtsrecht der Aktion&auml;re</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 21</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Information and Inspection Rights of the Shareholders</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>14</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 22</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recht auf Einleitung einer Sonderpr&uuml;fung</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 22</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Right to Initiate a Special Audit</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>14</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art.&nbsp;22 a)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Verg&uuml;tung des Verwaltungsrates und der Gesch&auml;ftsleitung</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 22 a)</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Compensation of the Board of Directors and Executive Management</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>14</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 22 b)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Allgemeine Verg&uuml;tungsprinzipien</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 22 b)</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>General Compensation Principles</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>16</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 22 c)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zusatzbetrag f&uuml;r Wechsel in der Gesch&auml;ftsleitung</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 22 c)</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Supplementary Amount for Changes to the Executive Management</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>17</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 23</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pr&auml;senzquorum</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 23</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Presence Quorum</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>17</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Verwaltungsrat</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>B.</I></FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>The Board of Directors</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>17</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 24</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zusammensetzung</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 24</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Composition</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>17</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 25</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amtsdauer</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 25</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Term of Office</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>18</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 26</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Konstituierung</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 26</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Constitution</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>18</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 27</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aufgaben</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 27</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Duties</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>18</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 28</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Schadloshaltung</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 28</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Indemnification</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>19</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 29</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Einberufung und Beschlussfassung</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 29</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Calling of Meetings and Quorum</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>20</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 30</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aussch&uuml;sse und Delegation</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 30</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Committees and Delegation</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>21</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 31</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Protokoll</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 31</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Minutes</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>22</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 32</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recht auf Auskunft und Einsicht</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 32</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Right to Information and Inspection</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>22</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art.&nbsp;32 a)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vertr&auml;ge betreffend die Verg&uuml;tung mit Mitgliedern des Verwaltungsrates und der Gesch&auml;ftsleitung</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 32 a)</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Agreements Regarding Compensation with Members of the Board of Directors and Executive Management</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>23</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art.&nbsp;32 b)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mandate ausserhalb des Konzerns</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 32 b)</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Mandates Outside the Group</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>23</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art.&nbsp;32 c)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vorsorgeleistungen</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 32 c)</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Post-Retirement Benefits</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>24</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 33</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zeichnungsberechtigung</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 33</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Signature Power</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>24</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Revisionsstelle</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>C.</I></FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>The Auditors</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>24</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 34</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revision</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 34</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Audit</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>24</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 35</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Organisation der Revisionsstelle</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 35</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Organisation of the Auditor</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>25</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">D.</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rechnungslegung und Verwendung des Bilanzgewinnes</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>D.</I></FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Rendering of Accounts and Allocation of Balance Sheet Profit</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>25</I></FONT></TD></TR>
</TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 2; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 36</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jahresrechnung</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 36</I></FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Annual Financial Accounts</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>25</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 37</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Verwendung des Jahresgewinnes</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 37</I></FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Application of the Annual Profit</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>26</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">E.</FONT></TD>
    <TD COLSPAN="4"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Schlussbestimmungen</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>E.</I></FONT></TD>
    <TD COLSPAN="4"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Final Provisions</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>26</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 38</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aufl&ouml;sung und Liquidation</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 38</I></FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Winding-up and Liquidation</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>26</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 39</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mitteilungen und Bekanntmachungen</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">27</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 39</I></FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Communications and Notifications</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>27</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 40</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Verbindlicher Originaltext</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">27</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 40</I></FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Original Language</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>27</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 41</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitionen</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">27</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Art. 41</I></FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Definitions</I></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>27</I></FONT></TD></TR>
<TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>I.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Firma, Sitz und
    Zweck</B></FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>I.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Company Name, Registered
    Office and Objects</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Firma und Sitz</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Company Name and Registered Office</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unter der Firma Garmin Ltd. (Garmin AG) besteht
    eine Aktiengesellschaft gem&auml;ss den vorliegenden Statuten und den Vorschriften des Schweizerischen Obligationenrechtes
    (OR). Der Sitz der Gesellschaft ist in Schaffhausen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under the company name of Garmin Ltd. (Garmin
    AG) exists a corporation pursuant to the present Articles of Association and the provisions of the Swiss Code of Obligations
    (CO). The registered office of the Company is in Schaffhausen.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zweck</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Objects</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Gesellschaft bezweckt den Erwerb, das Halten,
    die Finanzierung, die Verwaltung und den Verkauf von Beteiligungen an inl&auml;ndischen sowie auch an ausl&auml;ndischen Unternehmen
    jeglicher Art.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The objects of the Company are the acquisition,
    holding, financing, management and sale of participations in Swiss and foreign enterprises of all kinds.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Gesellschaft kann jede Art von finanzieller
    Unterst&uuml;tzung f&uuml;r und an Gruppengesellschaften gew&auml;hren, einschliesslich der Leistung von Garantien.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company may provide any kind of financial
    assistance, including guarantees, to and for group companies.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Gesellschaft kann ferner im In- und Ausland
    Zweigniederlassungen und Tochtergesellschaften errichten, sich an anderen Unternehmen im In- und Ausland beteiligen sowie
    solche Unternehmen erwerben und finanzieren. Im Weiteren kann die Gesellschaft im In- und Ausland Grundst&uuml;cke und gewerbliche
    Schutzrechte erwerben, belasten, ver&auml;ussern und verwalten sowie alle Gesch&auml;fte t&auml;tigen, die geeignet sein k&ouml;nnen,
    den Zweck der Gesellschaft zu f&ouml;rdern, oder die direkt oder indirekt damit in Zusammenhang stehen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company may establish branches and subsidiaries
    in Switzerland and abroad as well as participate in, acquire and finance other enterprises in Switzerland and abroad. The
    company may acquire, encumber, sell and manage real estate and intellectual property rights in Switzerland and abroad. It
    may furthermore make all transactions which may be appropriate to promote the purpose of the company or which are directly
    or indirectly connected therewith.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>II.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aktienkapital und Aktien</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>II.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share Capital and Shares</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aktienkapital</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share Capital</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Das Aktienkapital der Gesellschaft (<B>&bdquo;Aktienkapital&ldquo;)
    </B>betr&auml;gt CHF&nbsp;19&rsquo;807&rsquo;741.80 und ist eingeteilt in 198&rsquo;077&rsquo;418 Namenaktien (<B>&bdquo;Aktien&ldquo;</B>) mit einem
    Nennwert von je CHF&nbsp;0.10. Die Aktien sind vollst&auml;ndig liberiert.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The share capital of the Company (<B>&ldquo;Share
    Capital&rdquo;</B>) amounts to CHF&nbsp;19,807,741.80 and is divided into 198,077,418 registered shares (<B>&ldquo;Shares&rdquo;</B>)
    with a nominal value of CHF&nbsp;0.10 each. The Shares are fully paid up.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75in; text-indent: -0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 3 a)&nbsp;&nbsp;Sacheinlage</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 3 a)&nbsp;&nbsp;&nbsp;&nbsp;Contribution in Kind</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Gesellschaft &uuml;bernimmt bei der Kapitalerh&ouml;hung
    vom 27. Juni 2010 von der Garmin Ltd. mit Sitz in Camana Bay, Cayman Islands (<B>&bdquo;Garmin-Cayman&rdquo;</B>), gem&auml;ss
    Sacheinlagevertrag vom 27. Juni 2010 (<B>&bdquo;Sacheinlagevertrag&rdquo;</B>) 198,077,418&nbsp;Aktien (<I>common shares</I>)
    von Garmin-Cayman. Diese Aktien werden zu einem &Uuml;bernahmewert von insgesamt CHF 9,515,296,140&nbsp;&uuml;bernommen. Als
    Gegenleistung f&uuml;r die Sacheinlage (i) wird der Nennwert jeder Aktie von bisher CHF 0.01 auf neu CHF 10 erh&ouml;ht und
    (ii) gibt die Gesellschaft insgesamt 198,077,418&nbsp;voll einbezahlte Aktien mit einem Nennwert von je CHF 10 an Garmin-Cayman,
    handelnd im eigenen Namen und auf Rechnung derjenigen Aktion&auml;re der Garmin-Cayman, die im Zeitpunkt unmittelbar vor Vollzug
    des Sacheinlagevertrages Aktion&auml;re der Garmin Cayman waren, aus. Die Gesellschaft weist den Differenzbetrag von CHF 7,434,621,960
    den Reserven aus Kapitaleinlage der Gesellschaft zu.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the capital increase of June
    27, 2010, and in accordance with the contribution in kind agreement dated as of June 27, 2010 (<B>&ldquo;Contribution in Kind
    Agreement&rdquo;</B>), the Company acquires 198,077,418&nbsp;common shares of Garmin Ltd., with registered office in Camana
    Bay, Cayman Islands (<B>&ldquo;Garmin-Cayman&rdquo;</B>) from Garmin-Cayman. The shares of Garmin-Cayman have a total value
    of CHF 9,515,296,140. As consideration for this contribution, (i) the nominal value of each Share is increased from CHF 0.01
    to CHF 10 and (ii) the Company issues a total of 198,077,418 fully paid up Shares with a par value of CHF 10 each to Garmin-Cayman,
    acting in its own name and for the account of the holders of common shares of Garmin-Cayman outstanding immediately prior
    to the completion of the Contribution in Kind Agreement. The difference of CHF 7,434,621,960 is allocated to the reserves
    from capital contribution of the Company.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anerkennung der Statuten</B></FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recognition of Articles of Association</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jede Aus&uuml;bung von Aktion&auml;rsrechten
    schliesst die Anerkennung der Gesellschaftsstatuten in der jeweils g&uuml;ltigen Fassung in sich ein.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any exercise of shareholders&rsquo; rights automatically
    comprises recognition of the version of these Articles of Association in force at the time.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genehmigtes Kapital</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authorized Capital</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der
        Verwaltungsrat ist erm&auml;chtigt, jederzeit bis zum 8.&nbsp;Juni&nbsp;2020 das Aktienkapital im Maximalbetrag von CHF&nbsp;3,961,548.30
        durch Ausgabe von h&ouml;chstens 39,615,483 vollst&auml;ndig zu liberierenden Namenaktien mit einem Nennwert von je CHF&nbsp;0.10.
        zu erh&ouml;hen. Erh&ouml;hungen in Teilbetr&auml;gen sind gestattet.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der
        Verwaltungsrat legt den Ausgabebetrag, die Art der Einlagen, den Zeitpunkt der Ausgabe, die Bedingungen der Bezugsrechtsaus&uuml;bung
        und den Beginn der Dividendenberechtigung fest. Dabei kann der Verwaltungsrat neue Aktien mittels Fest&uuml;bernahme durch
        eine Bank oder einen Dritten und anschliessendem Angebot an die bisherigen Aktion&auml;re ausgeben.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der
        Verwaltungsrat ist erm&auml;chtigt, den Handel mit Bezugsrechten zu erm&ouml;glichen, zu beschr&auml;nken oder auszuschliessen.
        Der Verwaltungsrat kann nicht ausge&uuml;bte Bezugsrechte verfallen lassen oder er kann diese bzw. Aktien, f&uuml;r welche
        Bezugsrechte einger&auml;umt, aber nicht ausge&uuml;bt werden, zu Marktkonditionen platzieren oder anderweitig im Interesse
        der Gesellschaft verwenden.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der
        Verwaltungsrat ist ferner erm&auml;chtigt, das Bezugsrecht der Aktion&auml;re zu beschr&auml;nken oder aufzuheben und
        Dritten zuzuweisen, im Falle der Verwendung der Aktien:</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;f&uuml;r
        die Ausgabe von neuen Aktien, wenn der Ausgabebetrag der neuen Aktien unter Ber&uuml;cksichtigung des Marktpreises festgesetzt
        wird; oder</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;f&uuml;r
        die &Uuml;bernahme von Unternehmen, Unternehmensteilen oder Beteiligungen oder f&uuml;r neue Investitionsvorhaben oder
        f&uuml;r die Finanzierung oder Refinanzierung solcher Transaktionen; oder</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;zum
        Zwecke der Erweiterung des Aktion&auml;rskreises in gewissen Finanz- oder Investorenm&auml;rkten oder im Zusammenhang
        mit der Kotierung der Aktien an inl&auml;ndischen oder an ausl&auml;ndischen B&ouml;rsen; oder</FONT></P>
        <P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;f&uuml;r
nationale und internationale Aktienplatzierungen zum Zwecke der Erh&ouml;hung des Streubesitzes oder zur Einhaltung anwendbarer
Kotierungsvorschriften; oder</FONT></P>
        <P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
        Board of Directors is authorized, at any time until June&nbsp;8,&nbsp;2020 to increase the share capital in an amount
        not to exceed CHF&nbsp;3,961,548.30 through the issuance of up to 39,615,483 fully paid-in registered shares with a nominal
        value of CHF&nbsp;0.10 each. An increase in partial amounts shall be permitted.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
        Board of Directors shall determine the issue price, the type of payment, the date of issue of new shares, the conditions
        for the exercise of pre-emptive rights and the beginning date for dividend entitlement. In this regard, the Board of Directors
        may issue new shares by means of a firm underwriting through a banking institution or a third party and a subsequent offer
        of these shares to the current shareholders.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
        Board of Directors is entitled to permit, to restrict or to exclude the trade with pre-emptive rights. The Board of Directors
        may permit pre-emptive rights that have not been exercised to expire or it may place these rights and/or shares as to
        which pre-emptive rights have been granted but not exercised at market conditions or use them for other purposes in the
        interest of the Company.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
        Board of Directors is further authorized to limit or withdraw the pre-emptive rights of shareholders and allocate such
        rights to individual shareholders or to third parties if the shares are to be used:</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.7pt; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;for
        issuing new shares if the issue price of the new shares is determined by reference to the market price; or</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.7pt; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.7pt; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;for
        the acquisition of an enterprise, parts of an enterprise or participations or for new investment projects or for purposes
        of financing or refinancing any such transactions; or</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.7pt; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.7pt; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;for
        the purpose of broadening the shareholder constituency in certain financial or investor markets or in connection with
        the listing of new shares on domestic or foreign stock exchanges; or</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.7pt; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.7pt; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;for
        purposes of national and international offerings of shares for the purpose of increasing the free float or to meet applicable
        listing requirements; or</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.7pt; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>


<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)&nbsp;&nbsp;&nbsp;&nbsp;zwecks
Beteiligung von strategischen Investoren; oder</FONT></P>
        <P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)&nbsp;&nbsp;&nbsp;&nbsp;f&uuml;r
        die Einr&auml;umung einer Mehrzuteilungsoption (&ldquo;greenshoe&rdquo;) an ein oder mehrere Finanzinstitute im Zusammenhang
        mit einer Aktienplatzierung; oder</FONT></P>
        <P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)&nbsp;&nbsp;&nbsp;&nbsp;f&uuml;r
        die Beteiligung von Verwaltungsr&auml;ten, Gesch&auml;ftsleitungsmitgliedern, Mitarbeitern, Beauftragten, Beratern der
        Gesellschaft oder einer Gruppengesellschaft, oder anderen Personen, die Dienstleistungen an die Gesellschaft oder eine
        Gruppengesellschaft erbringen; oder</FONT></P>
        <P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)&nbsp;&nbsp;&nbsp;&nbsp;um
        Kapital auf eine schnelle und flexible Weise zu beschaffen, welche ohne den Ausschluss der Bezugsrechte der bestehenden
        Aktion&auml;re nur schwer m&ouml;glich w&auml;re.</FONT></P>
        <P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zeichnung
        und Erwerb der neuen Aktien sowie jede nachfolgende &Uuml;bertragung der Aktien unterliegen den Beschr&auml;nkungen von
        Artikel 8 dieser Statuten.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 48%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)&nbsp;&nbsp;&nbsp;&nbsp;for
        purposes of the participation of strategic partners; or</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)&nbsp;&nbsp;&nbsp;&nbsp;for
        an over-allotment option (&ldquo;greenshoe&rdquo;) being granted to one or more financial institutions in connection with
        an offering of shares; or</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.7pt; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)&nbsp;&nbsp;&nbsp;&nbsp;for
        the participation of directors, officers, employees, contractors, consultants of, or other persons providing services
        to the Company or a group company; or</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.7pt; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)&nbsp;&nbsp;&nbsp;&nbsp;for
        raising capital in a fast and flexible manner which could only be achieved with great difficulty without exclusion of
        the pre-emptive rights of the existing shareholders.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.7pt; text-indent: -21.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
        subscription and acquisition of the new shares as well as any subsequent transfer of the shares shall be subject to the
        restrictions pursuant to Article 8 of these articles of association.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bedingtes Aktienkapital</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Conditional Share Capital</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Das Aktienkapital kann sich durch Ausgabe von
    h&ouml;chstens 99&rsquo;038&rsquo;709 voll zu liberierenden Namenaktien im Nennwert von je CHF&nbsp;0.10 um h&ouml;chstens CHF&nbsp;9&rsquo;903&rsquo;870.90
    erh&ouml;hen durch:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Share Capital may be increased in an amount
    not to exceed CHF&nbsp;9,903,870.90 through the issuance of up to 99,038,709 fully paid-up registered Shares with a par value
    of CHF 0.10 each through:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">die Aus&uuml;bung von Optionsrechten, die Mitarbeitern
    und / oder Mitgliedern des Verwaltungsrates der Gesellschaft oder einer Gruppengesellschaft gew&auml;hrt werden.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the exercise of option rights which are granted
    to employees and&nbsp;/ or members of the board of directors of the Company or group companies.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Das Bezugsrecht der Aktion&auml;re ist ausgeschlossen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preferential subscription rights of the
    shareholders are excluded.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Aktien, welche &uuml;ber die Aus&uuml;bung
    von Umwandlungsrechten erworben werden, unterliegen den Eintragungsbeschr&auml;nkungen in das Aktienbuch gem&auml;ss Art.
    8 dieser Statuten.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Shares acquired through the exercise of
    rights shall be subject to the limitations for registration in the share register pursuant to Art. 8 of these Articles of
    Association.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aktienzertifikate</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share Certificates</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anstelle von einzelnen Aktien k&ouml;nnen Aktienzertifikate
    &uuml;ber mehrere Aktien ausgestellt werden. Aktien und Zertifikate sind durch ein Mitglied des Verwaltungsrates zu unterzeichnen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In lieu of single shares, the Company may issue
    share certificates covering several shares. Shares and certificates shall be signed by a member of the Board of Directors.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ein Aktion&auml;r hat nur dann Anspruch auf
    die Ausgabe eines Aktienzertifikates, wenn der Verwaltungsrat die Ausgabe von Aktienzertifikaten beschliesst. Aktienzertifikate
    werden in der vom Verwaltungsrat festgelegten Form ausgegeben. Ein Aktion&auml;r kann jederzeit eine Bescheinigung &uuml;ber
    die Anzahl der von ihm gehaltenen Aktien verlangen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A shareholder shall be entitled to a share certificate
    only if the Board of Directors resolves that share certificates shall be issued. Share certificates, if any, shall be in such
    form as the Board of Directors may determine. A shareholder may at any time request an attestation of the number of registered
    Shares held by it.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Gesellschaft kann jederzeit
    auf die Ausgabe und Aush&auml;ndigung von Zertifikaten verzichten und mit Zustimmung des Aktion&auml;rs ausgegebene Urkunden,
    die bei ihr eingeliefert werden, ersatzlos annullieren.</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company may dispense
    with the obligation to issue and deliver certificates, and may, with the consent of the shareholder, cancel without replacement
    issued certificates delivered to the Company.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Verwaltungsrat kann beschliessen, den Aktion&auml;ren
    anstelle von Wertpapieren einfache Beweisurkunden &uuml;ber ihre Beteiligung auszustellen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Board of Directors may decide to issue to
    the shareholders, in lieu of securities, simple documentary evidence for their participation.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Gesellschaft kann ihre Aktien als Wertrechte
    gem&auml;ss Schweizerischem Obligationenrecht und Bucheffekten gem&auml;ss Bucheffektengesetz ausgeben.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company may issue its Shares as uncertificated
    securities within the meaning of the Swiss Code of Obligations and as intermediated securities within the meaning of the Intermediated
    Securities Act.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 42.55pt; text-indent: -42.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art.
    8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aktienbuch, Eintragungsbeschr&auml;nkungen, Nominees</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 42.55pt; text-indent: -42.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art.
    8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share Register, Restrictions on Registration, Nominees</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Gesellschaft selbst oder ein von ihr beauftragter
    Dritter f&uuml;hrt ein Aktienbuch (<B>&bdquo;Aktienbuch&ldquo;</B>). Darin werden die Eigent&uuml;mer und Nutzniesser der
    Namenaktien sowie Nominees mit Namen und Vornamen, Adresse und Staatsangeh&ouml;rigkeit (bei Rechtseinheiten mit Firma und
    Sitz) eingetragen. &Auml;ndert eine im Aktienbuch eingetragene Zivilrechtliche Person ihre Adresse, so hat sie dies dem Aktienbuchf&uuml;hrer
    mitzuteilen. Solange dies nicht geschehen ist, gelten alle schriftlichen Mitteilungen der Gesellschaft an die im Aktienbuch
    eingetragenen Zivilrechtlichen Personen als rechtsg&uuml;ltig an die bisher im Aktienbuch eingetragene Adresse erfolgt.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company shall maintain, itself or through
    a third party, a share register (<B>&ldquo;Share Register&rdquo;</B>) that lists the surname, first name, address and citizenship
    (or the name and registered office for legal entities) of the owners and usufructuaries of the registered Shares as well as
    the nominees. A Person recorded in the Share Register shall notify the share registrar of any change in address. Until such
    notification shall have occurred, all written communication from the Company to Persons of record shall be deemed to have
    validly been made if sent to the address recorded in the Share Register.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ein Erwerber von Namenaktien wird auf Gesuch
    als Aktion&auml;r mit Stimmrecht im Aktienbuch eingetragen, vorausgesetzt, dass ein solcher Erwerber auf Aufforderung durch
    die Gesellschaft ausdr&uuml;cklich erkl&auml;rt, die Namenaktien im eigenen Namen und auf eigene Rechnung erworben zu haben.
    Der Verwaltungsrat kann Nominees, welche Namenaktien im eigenen Namen aber auf fremde Rechnung halten, als Aktion&auml;re
    mit Stimmrecht im Aktienbuch der Gesellschaft eintragen. Der Verwaltungsrat kann Kriterien f&uuml;r die Billigung solcher
    Nominees als Aktion&auml;re mit Stimmrecht festlegen. Die an den Namenaktien wirtschaftlich Berechtigten, welche die Namenaktien
    &uuml;ber einen Nominee halten, &uuml;ben Aktion&auml;rsrechte mittelbar &uuml;ber den Nominee aus.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">An acquirer of registered Shares shall be recorded
    upon request in the Share Register as a shareholder with voting rights; provided, however, that any such acquirer upon request
    of the Company expressly declares to have acquired the registered Shares in its own name and for its own account. The Board
    of Directors may record nominees who hold registered Shares in their own name, but for the account of third parties, as shareholders
    with voting rights in the Share Register of the Company. The Board of Directors may set forth the relevant requirements for
    the acceptance of nominees as shareholders with voting rights. Beneficial owners of registered Shares who hold registered
    Shares through a nominee exercise the shareholders&rsquo; rights through the intermediation of such nominee.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sollte der Verwaltungsrat die Eintragung eines
    Aktion&auml;rs als Aktion&auml;r mit Stimmrecht ablehnen, muss dem Aktion&auml;r diese Ablehnung innerhalb von 20 Tagen nach
    Erhalt des Eintragungsgesuches mitgeteilt werden. Aktion&auml;re, die nicht als Aktion&auml;re mit Stimmrecht anerkannt wurden,
    sind als Aktion&auml;re ohne Stimmrecht im Aktienbuch einzutragen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the Board of Directors refuses to register
    a shareholder as a shareholder with voting rights, it shall notify the shareholder of such refusal within 20 days upon receipt
    of the application. Nonrecognized shareholders shall be entered in the Share Register as shareholders without voting rights.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Verwaltungsrat kann nach Anh&ouml;rung des
    eingetragenen Aktion&auml;rs dessen Eintragung im Aktienbuch als Aktion&auml;r mit Stimmrecht mit R&uuml;ckwirkung auf das
    Datum der Eintragung streichen, wenn diese durch falsche oder irref&uuml;hrende Angaben zustande gekommen ist. Der Betroffene
    muss &uuml;ber die Streichung sofort informiert werden.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">After hearing the registered shareholder concerned,
    the Board of Directors may cancel the registration of such shareholder as a shareholder with voting rights in the Share Register
    with retroactive effect as of the date of registration if such registration was made based on false or misleading information.
    The relevant shareholder shall be informed promptly of the cancellation.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sofern die Gesellschaft an einer B&ouml;rse
    im Ausland kotiert ist, ist es der Gesellschaft mit Bezug auf den Regelungsgegenstand dieses Art. 8 und soweit gesetzlich
    zul&auml;ssig gestattet, die in der jeweiligen Rechtsordnung geltenden Vorschriften und Normierungen anzuwenden.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In case the Company is listed on any foreign
    Exchange, the Company is permitted to comply with the relevant rules and regulations that are applied in that foreign jurisdiction
    with regard to the subject of this Art. 8 to the extent permitted by Swiss law.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zehn Tage vor einer Generalversammlung bis zu
    dem auf die Generalversammlung folgenden Tag nimmt die Gesellschaft keine Eintragungen in das Aktienbuch vor.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">From ten days prior to a general meeting of
    the shareholders until the day following the general meeting of the shareholders, the Company shall not undertake any registration
    in the Share Register.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&Uuml;bertragung</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transfer</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die &Uuml;bertragung von Namenaktien und aller
    damit verbundenen Rechte zu Eigentum oder zur Nutzniessung erfolgt durch Indossament (Unterschrift) auf dem Aktientitel oder
    Zertifikat und Besitzes&uuml;bertragung. Falls keine Aktientitel oder Zertifikate bestehen, erfolgt die &Uuml;bertragung der
    Aktien zu Eigentum oder zur Nutzniessung durch eine schriftliche Abtretungserkl&auml;rung.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The transfer of ownership or the granting of
    a usufruct in registered Shares and in all the rights connected therewith shall be made by endorsement (signature) of the
    share title or certificate and by transfer of possession. If neither share titles nor certificates have been issued, such
    transfer shall be made by written declaration of assignment.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Verf&uuml;gung &uuml;ber die als Bucheffekten
    ausgegebenen Aktien erfolgt gem&auml;ss Bucheffektengesetz.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The transfer of Shares issued as intermediated
    securities, including the granting of security interests, shall be made according to the Intermediated Securities Act.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Im Rahmen des gesetzlich zul&auml;ssigen und
    unter Vorbehalt der &uuml;brigen Bestimmungen dieses Art. 9 darf die &Uuml;bertragung von unzertifizierten Aktien, die im
    Namen eines Aktion&auml;rs durch einen Transfer Agenten, Trust oder einer &auml;hnlichen Einrichtung (der <B>&bdquo;Transfer
    Agent&ldquo;</B>) verwaltet werden, nur in Co-Operation mit diesem Transfer Agenten erfolgen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject to the provisions contained in this
    Art. 9 and to the extent permitted by applicable law if uncertificated securities are administered on behalf of a shareholder
    by a transfer agent, trust company or similar entity (<B>&ldquo;Transfer Agent&rdquo;</B>), such securities and the rights
    deriving from them may be transferred only with the cooperation of the Transfer Agent.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Umwandlung und Zerlegung von Aktien</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Conversion and Splitting of Shares</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Durch &Auml;nderung der Statuten kann die Generalversammlung
    jederzeit Namenaktien in Inhaberaktien umwandeln und umgekehrt.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The general meeting of the shareholders may
    at any time convert registered shares into bearer shares and vice versa by amending the Articles of Association.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sie ist ferner befugt, Aktien in solche von
    kleinerem Nennwert zu zerlegen oder mit Zustimmung des Aktion&auml;rs zu solchen von gr&ouml;sserem Nennwert zusammenzulegen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furthermore, it is authorized to split shares
    into shares with lower nominal value or with the approval of the shareholder to consolidate shares into shares with higher
    nominal value.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bezugsrechte</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Rights</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Im Falle der Erh&ouml;hung des Aktienkapitals
    durch Ausgabe neuer Aktien haben die bisherigen Aktion&auml;re ein Bezugsrecht im Verh&auml;ltnis ihrer bisherigen Beteiligung,
    sofern die Generalversammlung dieses Recht nicht aus wichtigen Gr&uuml;nden einschr&auml;nkt oder ausschliesst. Wichtige Gr&uuml;nde
    sind insbesondere die &Uuml;bernahme von Unternehmen, Unternehmensteilen oder Beteiligungen sowie die Beteiligung der Arbeitnehmer.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the event of an increase of the Share Capital
    by issuing new shares, each existing shareholder has subscription rights in proportion to his/her existing shareholding, to
    the extent the general meeting of the shareholders does not restrict or exclude this right for important reasons. Important
    reasons are, in particular, the takeover of companies, of company parts, or of participations, as well as the participation
    of employees.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Generalversammlung setzt die Emissionsbedingungen
    fest, sofern sie nicht durch Beschluss den Verwaltungsrat dazu erm&auml;chtigt. Der Verwaltungsrat setzt die Einzahlungsbedingungen
    fest und gibt die Emissions- und Einzahlungsbedingungen den bezugsberechtigten Aktion&auml;ren bekannt.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The general meeting of the shareholders shall
    determine the terms of the share issue to the extent it has not, by resolution, authorized the Board of Directors to do so.
    The Board of Directors shall determine the payment terms and communicate the issue and payment terms to the shareholders entitled
    to subscription rights.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>III.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organisation</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>III.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organization</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Die Generalversammlung</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The General Meeting</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 12&nbsp;&nbsp;&nbsp;&nbsp;Befugnisse</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authority</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oberstes Organ der Gesellschaft ist die Generalversammlung.
    Ihr stehen folgende un&uuml;bertragbare Befugnisse zu:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The general meeting of the shareholders is the
    supreme corporate body of the Company. It has the following non-transferable powers:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Festsetzung
    und &Auml;nderung der Statuten; vorbehalten bleibt Art.&nbsp;27;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;adoption and amendment of the Articles of Association; Art. 27 remains reserved;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Festsetzung
der Zahl der Mitglieder des Verwaltungsrates sowie Wahl und Abberufung derselben;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;determination of the number of members of the Board of Directors as well as their election and removal;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wahl
    und Abberufung des Verwaltungsratspr&auml;sidenten;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;election
    and removal of the chair of the Board of Directors;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wahl
    und Abberufung der Mitglieder des f&uuml;r Verg&uuml;tungsfragen zust&auml;ndigen Ausschusses (&ldquo;<B>Verg&uuml;tungsausschuss</B>&rdquo;);</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;election and removal of the members of the committee responsible for compensation matters (&ldquo;<B>Compensation Committee</B>&rdquo;);</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wahl
    und Abberufung des unabh&auml;ngigen Stimmrechtsvertreters;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;election and removal of the independent voting rights representative; </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wahl
    und Abberufung der Revisionsstelle;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;appointment
    and removal of the Auditors;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genehmigung
    des Lageberichtes des Verwaltungsrates;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;approval
    of the management report of the Board of Directors;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genehmigung
    der Jahresrechnung und einer allf&auml;lligen Konzernrechnung;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;approval
    of the annual financial accounts and (if applicable) the group accounts;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beschlussfassung
    &uuml;ber die Verwendung des Bilanzgewinnes, insbesondere Festsetzung der Dividende sowie der Tanti&egrave;me des Verwaltungsrates;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;resolution
    on the application of the balance sheet profit, in particular, determination of dividend and the profit share of the Board
    of Directors;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genehmigung
    der Verg&uuml;tung des Verwaltungsrates und der Gesch&auml;ftsleitung gem&auml;ss Art.&nbsp;22 a) dieser Statuten;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;approval of the compensation of the Board of Directors and Executive Management pursuant to Art.&nbsp;22 a) of these Articles
    of Association;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entlastung
    der Mitglieder des Verwaltungsrates und der &uuml;brigen mit der Gesch&auml;ftsf&uuml;hrung betrauten Zivilrechtlichen Personen;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;discharge
    of the members of the Board of Directors and the Persons entrusted with the management;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beschlussfassung
    &uuml;ber die Gegenst&auml;nde, die der Generalversammlung durch das Gesetz oder die Statuten vorbehalten sind;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;resolution
    on matters which are reserved to the general meeting of the shareholders either by law or the Articles of Association;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Die
    Genehmigung von Zusammenschl&uuml;ssen (die Definition eines Zusammenschlusses findet sich in Art. 41 dieser Statuten), (i)
    soweit sich die Zust&auml;ndigkeit der Generalversammlung nicht bereits aus Art. 12 Ziff. 1. bis 8 ergibt und (ii) soweit
    nicht zwingend ein anderes Organ der Gesellschaft zust&auml;ndig ist.</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
    approval of Business Combinations (definition of this term is in Art. 41 of these Articles of Association), if and to the
    extent that such approval (i) is not covered by the powers of the general meeting pursuant to Art. 12 (1) to (8) and (ii)
    that it is not an inalienable power of another corporate body of the Company.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recht zur Einberufung</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Right to call a General Meeting</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Generalversammlung wird vom Verwaltungsrat,
    n&ouml;tigenfalls von der Revisionsstelle, einberufen. Das Einberufungsrecht steht auch den Liquidatoren und den Vertretern
    der Anleihensgl&auml;ubiger zu. Sie findet am Gesellschaftssitz oder an einem anderen Ort im In- oder Ausland oder, soweit
    nach den gesetzlichen Bestimmungen zul&auml;ssig, ausschliesslich in einer vom Verwaltungsrat von Zeit zu Zeit festgelegten
    virtuellen Form statt.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The general meeting of the shareholders shall
    be called by the Board of Directors or, if necessary, by the Auditors. Liquidators and representatives of bond creditors are
    also entitled to call the general meeting of the shareholders. It shall be held at the Company&rsquo;s registered office or at another
    place in Switzerland or abroad or, to the extent permissible under applicable laws, solely in virtual form, as determined
    by the Board of Directors from time to time.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die ordentliche Generalversammlung findet allj&auml;hrlich
    innerhalb von sechs Monaten nach Abschluss des Gesch&auml;ftsjahres statt, ausserordentliche Versammlungen werden nach Bed&uuml;rfnis
    abgehalten.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The ordinary general meeting of the shareholders
    shall take place annually within six months after the end of the business year, extraordinary general meetings of the shareholders
    shall be held as necessary.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form der Einberufung</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form of the calling of a General
    Meeting</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Generalversammlung wird durch einmalige
    Anzeige in der in Art. 39 f&uuml;r Mitteilungen an die Aktion&auml;re vorgeschriebenen Art und Weise einberufen. Diese Anzeige
    muss mindestens 20 Tage vor der Generalversammlung ergehen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The general meeting of the shareholders shall
    be convened by a single notice as provided for in Art. 39 regarding the manner of communications to shareholders. Such notice
    must be given at least 20 days prior to the general meeting of the shareholders.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tag, Zeit und Ort der Generalversammlung, die
    Verhandlungsgegenst&auml;nde (Traktandenliste) sowie die Antr&auml;ge des Verwaltungsrates und der Aktion&auml;re, welche
    die Durchf&uuml;hrung der Generalversammlung oder die Traktandierung eines Verhandlungsgegenstandes verlangt haben, sind bei
    der Einberufung bekannt zu geben.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The calling shall state the date, time and place
    of the general meeting of the shareholders as well as the agenda and motions of the Board of Directors and of the shareholders
    who have requested the holding of a general meeting of the shareholders or the inclusion of an item on the agenda.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Aktion&auml;re sind bei der ordentlichen
    Generalversammlung dar&uuml;ber zu orientieren, dass der Gesch&auml;ftsbericht (Lagebericht des Verwaltungsrates und Jahresrechnung,
    bestehend aus Erfolgsrechnung, Bilanz und Anhang), der Verg&uuml;tungsbericht und die Revisionsberichte mindestens 20 Tage
    vor dem Versammlungstag zur Einsicht der Aktion&auml;re am Sitz der Gesellschaft aufliegen, sowie dass jeder Aktion&auml;r
    verlangen kann, dass ihm unverz&uuml;glich eine Ausfertigung dieser Unterlagen zugestellt wird.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As far as the ordinary general meeting is concerned,
    the shareholders have to be notified, that the annual business report (the management report of the Board of Directors and
    the annual financial accounts, comprising the profit and loss statement, the balance sheet and notes), the compensation report
    and the audit reports are open to inspection by the shareholders at the registered office at least 20 days prior to the date
    of the general meeting of the shareholders and that any shareholder may request that a copy of these documents be immediately
    sent to him/her.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&Uuml;ber Gegenst&auml;nde, die nicht in dieser
    Weise angek&uuml;ndigt worden sind, k&ouml;nnen Beschl&uuml;sse nicht gefasst werden, ausser &uuml;ber einen Antrag auf Einberufung
    einer ausserordentlichen Generalversammlung, auf Durchf&uuml;hrung einer Sonderpr&uuml;fung oder auf Wahl einer Revisionsstelle
    infolge eines Begehrens eines Aktion&auml;rs nach Art. 727a Abs. 4 OR.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No resolutions may be passed on agenda items
    which have not been announced in this manner, except on motions for the calling of an extraordinary general meeting of the
    shareholders, for the conduct of a special audit or the appointment of auditors at the request of a shareholder pursuant to
    Art. 727a paragraph 4 CO.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Universalversammlung</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Universal Meeting</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Eigent&uuml;mer oder Vertreter s&auml;mtlicher
    Aktien k&ouml;nnen, falls kein Widerspruch erhoben wird, eine Generalversammlung ohne Einhaltung der f&uuml;r die Einberufung
    vorgeschriebenen Formvorschriften abhalten.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The holders of all Shares or their representatives
    may, if no objection is raised, hold a general meeting of the shareholders without observing the formalities required for
    the calling of a general meeting of the shareholders.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In dieser Versammlung kann &uuml;ber alle in
    den Gesch&auml;ftskreis der Generalversammlung fallenden Gegenst&auml;nde g&uuml;ltig verhandelt und Beschluss gefasst werden,
    solange die Eigent&uuml;mer oder Vertreter s&auml;mtlicher Aktien anwesend sind.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provided the holders of all shares or their
    representatives are present, all items within the powers of a general meeting of the shareholders may validly be discussed
    and resolved at such a meeting.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vorsitz und Protokoll</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chairperson and Minutes</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Generalversammlung wird durch den Pr&auml;sidenten
    bzw. Vizepr&auml;sidenten des Verwaltungsrates, den Chief Executive Officer, den Sekret&auml;r des Verwaltungsrates oder eine
    vom Verwaltungsrat ernannte Person geleitet. </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The general meeting of the shareholders shall
    be chaired by the Chairman, the vice-chairman of the Board of Directors, Chief Executive Officer, Corporate Secretary or any
    person appointed by the Board of Directors.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Vorsitzende ernennt den Protokollf&uuml;hrer
    und den oder die Stimmenz&auml;hler. Der Protokollf&uuml;hrer und der oder die Stimmenz&auml;hler m&uuml;ssen nicht Aktion&auml;re
    sein. Der Vorsitzende kann zugleich auch Protokollf&uuml;hrer und Stimmenz&auml;hler sein.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The chairperson shall appoint the keeper of
    the minutes and the scrutineer(s). The keeper of the minutes and the scrutineer(s) need not be shareholders. The chairperson
    may also be the keeper of the minutes and the scrutineer.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&Uuml;ber die Beschl&uuml;sse und Wahlen der
    Generalversammlung ist ein Protokoll zu f&uuml;hren, das vom Vorsitzenden und vom Protokollf&uuml;hrer zu unterzeichnen ist.
    Es h&auml;lt die Angaben gem&auml;ss Art. 702 Abs. 2 OR fest.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minutes shall be kept of the resolutions and
    votes of the general meeting of the shareholders that shall be signed by the chairperson and the keeper of the minutes. They
    shall contain the information required by Art. 702 paragraph 2 CO.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Aktion&auml;re sind berechtigt, das Protokoll
    einzusehen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shareholders may inspect the minutes.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stimmrecht und Vertretung</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voting Rights and Representation</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jede Aktie berechtigt zu einer Stimme.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each share carries one vote.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sofern die Statuten es vorsehen, ist jeder an
    einem bestimmten, durch den Verwaltungsrat vorgegebenen Stichtag, im Aktienbuch eingetragene Aktion&auml;r berechtigt, an
    der Generalversammlung teilzunehmen und an der Beschlussfassung mitzuwirken.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If provided in these Articles of Association,
    each shareholder recorded in the Share Register on a specific qualifying day which may be designated by the Board of Directors
    shall be entitled to participate at the general meeting of the shareholders and in any vote taken.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Aktion&auml;re w&auml;hlen den unabh&auml;ngigen
    Stimmrechtsvertreter an einer Generalversammlung f&uuml;r eine Amtszeit bis zum Abschluss der n&auml;chsten ordentlichen Generalversammlung.
    Wiederwahl ist m&ouml;glich. Ist das Amt des unabh&auml;ngigen Stimmrechtsvertreters aus irgendeinem Grund vakant, ernennt
    der Verwaltungsrat einen unabh&auml;ngigen Stimmrechtsvertreter f&uuml;r die n&auml;chste Generalversammlung. </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The shareholders shall elect the independent
    voting rights representative at a general meeting of the shareholders for a term of office extending until completion of the
    next annual general meeting. Re-election is possible. If the office of the independent voting rights representative is vacant,
    for any reason, the Board of Directors shall appoint an independent voting rights representative for the next general meeting
    of shareholders.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jeder Aktion&auml;r kann sich in der Generalversammlung
    durch einen anderen Aktion&auml;r, einen Dritten oder den unabh&auml;ngigen Stimmrechtsvertreter vertreten lassen. Vertreter
    haben sich durch eine schriftliche Vollmacht auszuweisen, wobei die Vollmacht und die Weisungen an den unabh&auml;ngigen Stimmrechtsvertreter
    auch in einer vom Verwaltungsrat von Zeit zu Zeit festgelegten elektronischen Form erteilt werden k&ouml;nnen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each shareholder may arrange representation
    through another shareholder, a third party or the independent voting rights representative. The representative must produce
    a written power of attorney; provided, however, that the proxy and the instructions to the independent voting rights representative
    may also be granted by electronic means as determined by the Board of Directors from time to time.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Gesellschaft anerkennt nur einen Vertreter
    f&uuml;r jede Aktie.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company shall acknowledge only one representative
    for each share.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Verwaltungsrat kann die Einzelheiten &uuml;ber
    die Vertretung und Teilnahme an der Generalversammlung in Verfahrensvorschriften regeln, einschliesslich mittels Verfahrensvorschriften
    in der Einladung zur Generalversammlung oder in den Stimmrechtskarten, die den Aktion&auml;ren im Zusammenhang mit einer Generalversammlung
    zugestellt werden.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Board of Directors may issue the particulars
    of the right to representation and participation at the general meeting of the shareholders in procedural rules, including
    in procedural rules included in the notice of the general meeting of the shareholders or the proxy cards made available to
    shareholders in connection with a general meeting of the shareholders.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stimmrechte und die damit verbundenen Rechte
    k&ouml;nnen der Gesellschaft gegen&uuml;ber von einem Aktion&auml;r oder Nutzniesser der Aktien jeweils nur in dem Umfang
    ausge&uuml;bt werden, wie diese Person mit Stimmrecht im Aktienbuch eingetragen ist.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Voting rights and rights derived from them may
    be exercised in relation to the Company by a shareholder or usufructuary of Shares only to the extent that such Person is
    recorded in the Share Register with the right to exercise his voting rights.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Teilnahme der Mitglieder des Verwaltungsrates</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.375in; text-indent: -0.375in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art.
    18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Participation of the Members of the Board of Directors</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Mitglieder des Verwaltungsrates sind berechtigt,
    an der Generalversammlung teilzunehmen. Sie k&ouml;nnen Antr&auml;ge stellen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The members of the Board of Directors may take
    part in the general meeting of the shareholders. They may submit motions.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beschlussfassung und Wahlen</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resolutions and Voting</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Generalversammlung fasst ihre Beschl&uuml;sse
    und vollzieht ihre Wahlen mit der Mehrheit der abgegebenen Aktienstimmen, unter Ausschluss der leeren, ung&uuml;ltigen und
    nicht aus&uuml;bbaren Stimmen, soweit Gesetz oder Statuten nichts anderes bestimmen. Bei Stimmengleichheit gilt ein Beschluss
    als nicht zustande gekommen; bei Wahlen entscheidet das Los.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The general meeting of the shareholders shall
    pass its resolutions and elections with a majority of the share votes cast, excluding unmarked, invalid and non-exercisable
    votes, to the extent not otherwise stated by the law or the Articles of Association. Where the votes are tied, a resolution
    shall be deemed not to be passed; in the case of elections, the decision shall be by lot.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Besonderes Stimmen-Quorum</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Special Vote</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Folgende Beschl&uuml;sse m&uuml;ssen von Gesetzes
    wegen mindestens zwei Drittel der vertretenen Stimmen und die absolute Mehrheit der vertretenen Aktiennennwerte auf sich vereinigen:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following resolutions require by law two
    thirds of the votes represented and the absolute majority of the nominal value of the Shares represented in favor:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&Auml;nderung
    des Gesellschaftszweckes;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;amendment
    of the Company objects;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Einf&uuml;hrung
    von Stimmrechtsaktien;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;creation
    of Shares with privileged voting rights;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beschr&auml;nkung
    der &Uuml;bertragbarkeit von Namenaktien;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;restriction
    on the transferability of registered Shares;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genehmigte
    oder bedingte Kapitalerh&ouml;hung;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;approved
    or conditional capital increase;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kapitalerh&ouml;hung
    aus Eigenkapital, gegen Sacheinlage oder zwecks Sach&uuml;bernahme und die Gew&auml;hrung von besonderen Vorteilen;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;capital
    increase out of equity, by way of contributions in kind or for the purpose of acquisition of assets and the granting of special
    benefits;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Einschr&auml;nkung
    oder Aufhebung des Bezugsrechtes;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;restriction
    or withdrawal of subscription rights;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verlegung
    des Sitzes der Gesellschaft;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;relocation
    of the registered office of the Company;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aufl&ouml;sung
    der Gesellschaft;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;winding-up
    of the Company;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fusionsbeschluss
    gem&auml;ss Art. 18 des Fusionsgesetzes (FusG), Spaltungsbeschluss gem&auml;ss Art.&nbsp;43 FusG und Umwandlungsbeschluss
    gem&auml;ss Art. 64 FusG.</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;merger
    resolution pursuant to Art. 18 of the Merger Act (FusG), demerger resolution pursuant to Art. 43 FusG and transformation resolution
    pursuant to Art. 64 FusG.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Im Rahmen des gesetzlich Zul&auml;ssigen und
    unter Vorbehalt anderslautender Vorschriften in diesem Art. 20 ist f&uuml;r folgende Gegenst&auml;nde ein Beschluss der Generalversammlung
    erforderlich, der mindestens 75 % der an der Generalversammlung vertretenen Aktien auf sich vereinigt:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject to the provisions of the applicable
    law and except as otherwise expressly provided in this Art. 20, the approval of at least 75 % of the Shares represented at
    a general meeting of the shareholders shall be required for:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Die
    Genehmigung von Zusammenschl&uuml;ssen (die Definition eines Zusammenschlusses findet sich in Art. 41 dieser Statuten) gem&auml;ss
    Art. 12 (9) dieser Statuten. Dieses besondere Zustimmungserfordernis ist nicht erforderlich f&uuml;r Zusammenschl&uuml;sse,
    welche von der Mehrheit der Unparteiischen Mitgliedern des Verwaltungsrates (die Definition der Unparteiischen Mitglieder
    des Verwaltungsrates findet sich in Art. 41 der Statuten) genehmigt wurden. F&uuml;r solche von der Mehrheit der Unparteiischen
    Mitgliedern des Verwaltungsrates genehmigte Zusammenschl&uuml;sse gen&uuml;gen die im Gesetz oder in den Statuten vorgesehenen
    Mehrheiten, je nach dem welche strenger sind. F&uuml;r den Zweck dieser Bestimmung ist die Mehrheit der Unparteiischen Mitglieder
    des Verwaltungsrates berechtigt und verpflichtet, gest&uuml;tzt auf die ihnen nach angemessenem Aufwand zur Verf&uuml;gung
    stehenden Informationen zu bestimmen, (i) ob eine Person ein Nahestehender Aktion&auml;r ist; (ii) die Anzahl Aktien, die
    eine Person oder eine Gesellschaft direkt oder indirekt h&auml;lt; (iii) ob eine Gesellschaft eine Nahestehende Gesellschaft
    einer anderen ist; und ob (iv) die Aktiven, welche Gegenstand eines solchen Zusammenschlusses sind oder die von der Gesellschaft
    oder einer ihrer Tochtergesellschaften im Zusammenhang mit einem solchen Zusammenschluss ausgegebenen oder &uuml;bertragenden
    Effekten einen aggregierten Marktwert von mindestens 25 % des Marktwertes der gesamten Aktiven unmittelbar vor dem Zusammenschluss
    haben. Die Mehrheit der Unparteiischen Mitglieder des Verwaltungsrates hat zudem das Recht, s&auml;mtliche Bestimmungen und
    Begriffe dieses Art. 20 auszulegen.</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
    approval of Business Combinations (definition of this term is in Art. 41 of these Articles of Association) pursuant to Art.
    12 (9) of these Articles of Association. The foregoing requiring a special resolution of the shareholders shall not be applicable
    to any particular Business Combination, and such Business Combination shall require only such vote as is required by the law
    or by these Articles of Association, whichever is greater, if the Business Combination shall have been approved by a majority
    of the Disinterested Directors (as hereinafter defined in Art. 41 of these Articles of Association) whereby it is understood
    that such majority of the Disinterested Directors shall have the power and duty to determine for the purposes of this Article,
    on the basis of information known to them after reasonable inquiry, (i) whether a person is an Interested Shareholder; (ii)
    the number of Shares of which any person is the beneficial owner; (iii) whether a Person is an Affiliate of another; and (iv)
    whether the assets which are the subject of any Business Combination have, or any securities to be issued or transferred by
    the Company or any Subsidiary in any Business Combination have, an aggregate Fair Market Value equaling or exceeding twenty-five
    percent (25 %) of the Fair Market Value of the combined assets immediately prior to such transfer of the Company and its subsidiaries.
    A majority of the Disinterested Directors shall have the further power to interpret all of the terms and provisions of this
    Art. 20.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jede
    &Auml;nderung dieser Bestimmung.</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
    change to this paragraph of Art. 20 of the Articles of Association.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ein Beschluss der Generalversammlung der mindestens
    zwei Drittel der Gesamtstimmen (die Definition von Gesamtstimmen findet sich in Art. 41 dieser Statuten) auf sich vereinigt,
    ist erforderlich f&uuml;r:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The approval of at least two thirds of the Total
    Voting Shares shall be required for (definition of the term Total Voting Shares is in Art. 41 of these Articles of Association):</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Die
    Abwahl eines amtierenden Mitglieds des Verwaltungsrates</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
    resolution with respect to the removal of a serving member of the Board of Directors.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jede
    &Auml;nderung dieser Bestimmung</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
    change to this paragraph of Art. 20 of the Articles of Association.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ein Beschluss der Generalversammlung der mindestens
    75 % der Gesamtstimmen (die Definition von Gesamtstimmen findet sich in Art. 41 dieser Statuten) auf sich vereinigt, ist erforderlich
    f&uuml;r:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The approval of at least 75 % of the Total Voting
    Shares shall be required for (definition of the term Total Voting Shares is in Art. 41 of these Articles of Association):</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Die
    Reduktion oder Erh&ouml;hung der Anzahl Verwaltungsr&auml;te in Art. 24 dieser Statuten.</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
    increase or reduction of the number of members of the Board of Directors in Art. 24 of these Articles of Association.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jede
    &Auml;nderung dieser Bestimmung.</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 22.7pt; text-indent: -22.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
    change to this paragraph of Art. 20 of the Articles of Association.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Auf Verlangen eines Aktion&auml;rs erfolgt die
    Wahl der Mitglieder des Verwaltungsrates in geheimer Abstimmung. Die &uuml;brigen Wahlen und Beschlussfassungen erfolgen in
    offener Abstimmung, falls die Generalversammlung nichts anderes beschliesst.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">At the request of a shareholder the election
    of members of the Board of Directors shall take place by secret ballot. All other voting and passing of resolutions shall
    occur by open ballot unless otherwise resolved by the general meeting of the shareholders.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ist die Gesellschaft verpflichtet, ihre Jahresrechnung
    und gegebenenfalls ihre Konzernrechnung durch eine Revisionsstelle pr&uuml;fen zu lassen, muss der Revisionsbericht vorliegen,
    bevor die Generalversammlung die Jahresrechnung und die Konzernrechnung genehmigt und &uuml;ber die Verwendung des Bilanzgewinns
    beschliesst. Wird eine ordentliche Revision durchgef&uuml;hrt, so muss die Revisionsstelle an der Generalversammlung anwesend
    sein. Die Generalversammlung kann durch einstimmigen Beschluss auf die Anwesenheit der Revisionsstelle verzichten.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Where the Company is required to have its annual
    financial accounts and, where relevant, its group accounts audited by auditors, the audit report shall be presented to the
    general meeting of the shareholders prior to approval of the annual financial accounts and group accounts and prior to resolving
    on the application of the balance sheet profit. Where an ordinary audit is to be conducted, the Auditors shall be present
    at the general meeting of the shareholders. The general meeting of the shareholders may by way of a unanimous resolution,
    waive the requirement for the presence of the Auditors.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 21&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Auskunfts- und Einsichtsrecht
    der Aktion&auml;re</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 42.55pt; text-indent: -42.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art.
    21&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information and Inspection Rights of the Shareholders</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jeder Aktion&auml;r ist berechtigt, an der Generalversammlung
    vom Verwaltungsrat Auskunft &uuml;ber die Angelegenheiten der Gesellschaft und von der Revisionsstelle &uuml;ber Durchf&uuml;hrung
    und Ergebnis ihrer Pr&uuml;fung zu verlangen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">At the general meeting of the shareholders,
    any shareholder is entitled to request information from the Board of Directors concerning the affairs of the Company and from
    the Auditors concerning the conduct and the results of their review.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Auskunft ist insoweit zu erteilen, als sie
    f&uuml;r die Aus&uuml;bung der Aktion&auml;rsrechte erforderlich ist. Sie kann verweigert werden, wenn durch sie Gesch&auml;ftsgeheimnisse
    oder andere schutzw&uuml;rdige Interessen der Gesellschaft gef&auml;hrdet werden.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The information shall be given to the extent
    necessary for the exercising of shareholders&rsquo; rights. It may be denied if business secrets or other interests of the Company
    worth being protected are jeopardized.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Gesch&auml;ftsb&uuml;cher und Korrespondenzen
    k&ouml;nnen nur mit ausdr&uuml;cklicher Erm&auml;chtigung der Generalversammlung oder durch Beschluss des Verwaltungsrates
    und unter Wahrung des Gesch&auml;ftsgeheimnisses eingesehen werden.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Company books and correspondence may only be
    inspected with the express authorization of the general meeting of the shareholders or by resolution of the Board of Directors
    and under the condition that business secrets are safeguarded.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR STYLE="clear: both">
    <B>Art. 22&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recht auf Einleitung einer Sonderpr&uuml;fung</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 22&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Right to Initiate a Special Audit</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jeder Aktion&auml;r kann der Generalversammlung
    beantragen, bestimmte Sachverhalte durch eine Sonderpr&uuml;fung abkl&auml;ren zu lassen, sofern dies zur Aus&uuml;bung der
    Aktion&auml;rsrechte erforderlich ist und er das Recht auf Auskunft oder das Recht auf Einsicht bereits ausge&uuml;bt hat.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any shareholder may, at the general meeting
    of the shareholders, request that certain matters be subject to a special audit to the extent this is necessary for the exercising
    of shareholders&rsquo; rights and he/she has previously exercised the right to information or the right to inspection.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 42.55pt; text-indent: -42.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art.
    22&nbsp;a)&nbsp;Verg&uuml;tung des Verwaltungsrates und der Gesch&auml;ftsleitung</B></FONT></TD>
    <TD STYLE="padding-left: 42.55pt; text-indent: -42.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 42.55pt; text-indent: -42.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art.
    22 a)&nbsp;Compensation of the Board of Directors and Executive Management </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1) Die Aktion&auml;re genehmigen, unter Vorbehalt
    der nachstehenden Abs.&nbsp;2 und 4, an jeder ordentlichen Generalversammlung die Antr&auml;ge des Verwaltungsrates betreffend
    den Maximalgesamtbetrag (in US Dollars, Schweizer Franken oder einer anderen W&auml;hrung):</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1) The shareholders shall, subject to paras.&nbsp;2
    and 4 below, at each annual general meeting ratify the proposals of the Board of Directors as regards the maximum aggregate
    amount (expressed in U.S. dollars, Swiss francs or any other currency) of, respectively:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 14.2pt; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;der
    Verg&uuml;tung des Verwaltungsrates f&uuml;r die Periode zwischen der ordentlichen Generalversammlung, an welcher um Genehmigung
    ersucht wird, und der n&auml;chsten ordentlichen Generalversammlung; und</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 16.9pt; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;the compensation of the Board of Directors for the period between the annual general meeting at which ratification is
    sought and the next annual general meeting; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 14.2pt; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
der Verg&uuml;tung der Gesch&auml;ftsleitung f&uuml;r das Gesch&auml;ftsjahr, welches nach der ordentlichen Generalversammlung,
    an welcher um Genehmigung ersucht wird, beginnt.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 16.9pt; text-indent: -14.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;the compensation of Executive Management for the fiscal year commencing after the annual general meeting is held at which
    the ratification is sought.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2) Der Verwaltungsrat kann die Aktion&auml;re
    an einer Generalversammlung um Genehmigung eines Gesamtbetrages oder eines Maximalgesamtbetrages der Verg&uuml;tung f&uuml;r
    den Verwaltungsrat beziehungsweise die Gesch&auml;ftsleitung, oder von Elementen davon, oder zus&auml;tzlicher oder bedingter
    Betr&auml;ge, in Bezug auf von Abs.&nbsp;1 dieses Art.&nbsp;22 a) abweichende Zeitperioden ersuchen, sei es auf retrospektiver
    Basis, prospektiver Basis oder einer Kombination davon.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2) The Board of Directors may seek ratification
    by the shareholders at a general meeting of the shareholders on a retrospective basis, on a prospective basis, or a combination
    thereof, of the aggregate amount, or maximum aggregate amount, of compensation, respectively, of the Board of Directors and
    Executive Management, or any element thereof, or any additional or contingent amount, in relation to different time periods
    than those referred to in para.&nbsp;1 of this Art.&nbsp;22 a).</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3) Innerhalb des von den Aktion&auml;ren an
    der jeweiligen Generalversammlung genehmigten Maximalgesamtbetrages ist ausschliesslich der Verwaltungsrat oder, soweit an
    ihn delegiert, der Verg&uuml;tungsausschuss befugt und verantwortlich, die tats&auml;chliche individuelle Verg&uuml;tung jedes
    Mitglieds des Verwaltungsrates beziehungsweise der Gesch&auml;ftsleitung zu bestimmen. Zu diesem Zweck wird der Wert der Verg&uuml;tung
    gem&auml;ss allgemein anerkannten Bewertungsmethoden per Datum der Zuteilung des jeweiligen Verg&uuml;tungselements bestimmt.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3) Within the maximum aggregate amount ratified
    by the shareholders at the relevant general meeting of the shareholders, it shall be the exclusive authority and responsibility
    of the Board of Directors or, where delegated to it, the Compensation Committee to determine the actual individual compensation
    of, respectively, each member of the Board of Directors and Executive Management. For such purposes, the value of compensation
    shall be determined in accordance with generally recognized valuation methods as per the grant date of the respective compensation
    element.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4) Genehmigen die Aktion&auml;re an einer Generalversammlung
    einen Antrag des Verwaltungsrates gem&auml;ss Abs.&nbsp;1 oder 2 hiervor nicht, so zieht der Verwaltungsrat den Antrag, der
    nicht genehmigt wurde, unter Ber&uuml;cksichtigung, soweit feststellbar, der Gr&uuml;nde, aus welchen die Aktion&auml;re den
    Antrag nicht genehmigt haben, in Wiedererw&auml;gung, und ersucht die Aktion&auml;re um Genehmigung eines &uuml;berarbeiteten
    Antrags; die Genehmigung kann an der Generalversammlung, an welcher der Antrag gem&auml;ss Abs.&nbsp;1 oder 2 hiervor nicht
    genehmigt wurde, an einer ausserordentlichen Generalversammlung oder an der n&auml;chsten ordentlichen Generalversammlung
    erfolgen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4) If at the annual general meeting the shareholders
    have not ratified a proposal of the Board of Directors pursuant to para.&nbsp;1 above or para.&nbsp;2 above, the Board of
    Directors shall reconsider the proposal that has not been ratified, taking into account, to the extent identifiable, the reasons
    for which the shareholders did not ratify the proposal, and seek shareholder ratification for a revised proposal at the annual
    general meeting at which the proposal pursuant to para.&nbsp;1 above or para.&nbsp;2 above has not been ratified, at an extraordinary
    general meeting or at the next annual general meeting. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5) Die Gesellschaft oder von ihr kontrollierte
    Gesellschaften k&ouml;nnen Verg&uuml;tung vor der Genehmigung durch die Aktion&auml;re an einer Generalversammlung auszahlen
    oder zuteilen. Solche Verg&uuml;tung steht unter dem Vorbehalt der nachtr&auml;glichen Genehmigung durch die Aktion&auml;re.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5) &nbsp;The Company or companies under its
    control may pay out or grant compensation prior to shareholder ratification at a general meeting of the shareholders. Such
    compensation is subject to subsequent shareholder ratification.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6) Der Begriff &ldquo;Verg&uuml;tung&rdquo;,
    so wie er in diesen Statuten verwendet wird, umfasst jegliche Form der Entsch&auml;digung, einschliesslich, aber nicht beschr&auml;nkt
    auf Verg&uuml;tung in bar, in der Form von Aktien, gesperrten Aktien, Bonus-Aktien, ausgeschobenen Einheiten, Optionen, Wertsteigerungsrechten,
    gesperrten Aktieneinheiten, Leistungspr&auml;mien oder anderen Finanzinstrumenten oder Derivaten, oder irgendeiner Kombination
    davon, oder andere Leistungen und Vorteile, welche Mitgliedern des Verwaltungsrates und/oder der Gesch&auml;ftsleitung bezahlt
    oder zugeteilt wird bzw. welche diese erhalten. Der Begriff &ldquo;Verg&uuml;tung&rdquo; umfasst nicht den Ersatz von Auslagen,
    die ein Mitglied des Verwaltungsrates oder der Gesch&auml;ftsleitung im Interesse der Gesellschaft get&auml;tigt hat.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6) The term &ldquo;compensation&rdquo;, as
    used in these Articles of Association, shall include any form of remuneration, including, without limitation, cash, shares,
    restricted shares, bonus shares, deferred units, stock options, share appreciation rights, restricted stock units, performance
    awards, awards of other financial instruments or derivatives, or any combination of the foregoing, paid or granted to, and
    any other benefits and perquisites received by, members of the Board of Directors and/or Executive Management. The term &ldquo;compensation&rdquo;
    shall not include the reimbursement of expenses incurred by a member Board of Directors or Executive Management in the interests
    of the Company.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 15; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 22&nbsp;b)&nbsp;Allgemeine Verg&uuml;tungsprinzipien</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 16.9pt; text-indent: -16.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art.
    22 b)&nbsp;General Compensation Principles </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1) Die Verg&uuml;tung des Verwaltungsrates
    kann (i) Barkomponenten, (ii) Aktien, gesperrte Aktien, gesperrte Aktieneinheiten, aufgeschobene Einheiten oder &auml;hnliche
    Instrumente und/oder (iii) Leistungen oder Vorteile in der Form von Sach- oder Dienstleistungen umfassen, wie im Einzelnen
    vom Verwaltungsrat oder, soweit an ihn delegiert, vom Verg&uuml;tungsausschuss unter Vorbehalt der anwendbaren Planbestimmungen
    festgelegt. Exekutive Verwaltungsr&auml;te erhalten keine Verg&uuml;tung zus&auml;tzlich zur Verg&uuml;tung, welche ihnen
    im Rahmen ihrer Funktion als Mitglied der Gesch&auml;ftsleitung der Gesellschaft ausgerichtet wird.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1) The compensation of the Board of Directors
    may include (i) cash, (ii) shares, restricted shares, restricted share units, deferred units or similar instruments, and/or
    (iii) benefits and perquisites in kind or in the form of services, as shall be determined by the Board of Directors or, where
    delegated to it, the Compensation Committee and subject to the terms of the applicable plans. Executive directors shall not
    receive any compensation in addition to the compensation paid to them in their roles as officers of the Company.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2) Sofern vom Verwaltungsrat oder, soweit an
    ihn delegiert, &nbsp;vom Verg&uuml;tungsausschuss nicht anders festgelegt, besteht die Verg&uuml;tung der Gesch&auml;ftsleitung
    in der Regel aus (i) einem Basissal&auml;r, (ii) anteilsbasierter oder anderer Leistungs- oder Erfolgsverg&uuml;tung gem&auml;ss
    anwendbaren Pl&auml;nen und (iii) weiterer Verg&uuml;tung, die der Verwaltungsrat oder, soweit an ihn delegiert, der Verg&uuml;tungsausschuss
    als angemessen erachtet, einschliesslich, aber nicht beschr&auml;nkt auf Beitr&auml;ge an Vorsorgeleistungspl&auml;ne und
    Spesenpauschalen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2) Except as otherwise determined by the Board
    of Directors or, where delegated to it, the Compensation Committee, Executive Management compensation shall generally consist
    of (i)&nbsp;a base salary, (ii)&nbsp;equity incentive and other incentive compensation pursuant to applicable plans and (iii)
    any other compensation as deemed appropriate by the Board of Directors or, where delegated to it, the Compensation Committee,
    including, but not limited to, contributions to post-retirement benefit plans and allowances.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3) Verg&uuml;tung gem&auml;ss Beteiligungs-
    oder Leistungs- und Erfolgspl&auml;nen soll so ausgestaltet sein, dass die Interessen der Empf&auml;nger auf diejenigen der
    Aktion&auml;re der Gesellschaft ausgerichtet werden, eine Mitarbeiteranbindung erreicht wird und die Verg&uuml;tung an die
    Leistung infolge der Schaffung von Mehrwert f&uuml;r die Aktion&auml;re gekn&uuml;pft wird. Der Verwaltungsrat oder, soweit
    an ihn delegiert, &nbsp;der Verg&uuml;tungsausschuss ber&uuml;cksichtigen die Funktion, den Umfang der Pflichten und die Verantwortungsstufe
    des jeweiligen Empf&auml;ngers, die Mitarbeiteranbindung, das gegenw&auml;rtige Gesch&auml;ftsumfeld, die pers&ouml;nliche
    Leistung, die Leistung der Gesellschaft oder von Unternehmensteilen, einschliesslich, aber nicht beschr&auml;nkt auf die Aktienrendite
    im Verh&auml;ltnis zum Markt, anderen Unternehmen oder anderen Richtgr&ouml;ssen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3) Compensation pursuant to participation or
    incentive plans shall be designed so as to align the interests of its recipients with those of the Company&rsquo;s shareholders,
    provide retention incentives, and tie compensation to performance through the creation of shareholder value. The Board of
    Directors or, where delegated to it, &nbsp;the Compensation Committee shall take into account the position and level of duties
    and responsibility of the respective recipient, retention considerations, the current business environment, individual performance,
    performance of the Company or parts thereof, including, without limitation, total shareholder return relative to market, other
    companies or other benchmarks.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4) Vorbeh&auml;ltlich der Genehmigung der Bestimmungen
    der Beteiligungs- oder der Leistungs-und Erfolgspl&auml;ne durch die Aktion&auml;re (soweit gem&auml;ss anwendbarem Recht
    oder anwendbaren B&ouml;rsenregularien erforderlich), legt der Verwaltungsrat oder, soweit an ihn delegiert, der Verg&uuml;tungsausschuss
    f&uuml;r anteilsbasierte oder Leistungs- und Erfolgsverg&uuml;tung, soweit anwendbar, die Zuteilungs-, Anfalls- (<I>vesting</I>-),
    Aus&uuml;bungs- und Verfallsbedingungen fest; der Verwaltungsrat oder, soweit an ihn delegiert, &nbsp;der Verg&uuml;tungsausschuss
    kann vorsehen, dass aufgrund des Eintritts von im Voraus bestimmten Ereignissen wie einem Kontrollwechsel oder der Beendigung
    eines Arbeits-, Mandats-oder anderen Vertrags Anfalls- (<I>vesting</I>-) und Aus&uuml;bungsbedingungen fortbestehen oder
    verk&uuml;rzt oder aufgehoben werden, Verg&uuml;tungen unter Annahme der Erreichung der Zielwerte ausgerichtet werden oder
    Verg&uuml;tungen verfallen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4) In relation to equity incentive or other
    incentive awards, subject to the approval of the terms of equity incentive or other incentive plans by shareholders as may
    be required under applicable law and stock exchange rules, the Board of Directors or, where delegated to it, the Compensation
    Committee shall, as applicable, determine the grant, vesting, exercise and forfeiture conditions; the Board of Directors or,
    where delegated to it, the Compensation Committee may provide for the continuation, acceleration or removal of vesting and
    exercise conditions, for the payment or grant of compensation based upon assumed target achievement, or for forfeiture, in
    each case with regard to pre-determined events such as a change-in-control or termination of an employment, mandate or other
    agreement.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 16; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5) Die Gesellschaft kann die Aktien der Gesellschaft,
    die im Rahmen der anteilsbasierten Verg&uuml;tung an die Beg&uuml;nstigten auszugeben oder zu liefern sind, jeweils soweit
    verf&uuml;gbar aus genehmigtem oder bedingtem Aktienkapital oder unter Verwendung von auf dem Markt erworbenen eigenen Aktien
    bereitstellen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5) The Company may procure the shares of the
    Company to be issued or delivered to beneficiaries of equity-based awards, to the extent available, from authorized share
    capital, conditional share capital, or through use of treasury shares purchased in the market.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6) Verg&uuml;tung gem&auml;ss diesen Statuten
    kann durch die Gesellschaft oder durch von ihr kontrollierte Gesellschaften ausbezahlt oder zugeteilt werden.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6) Compensation pursuant to these Articles
    of Association may be paid or granted by the Company or companies under its control.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 42.55pt; text-indent: -42.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art.
    22&nbsp;c)&nbsp;Zusatzbetrag f&uuml;r &Auml;nderungen in der Gesch&auml;ftsleitung</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 42.55pt; text-indent: -42.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art.&nbsp;22
    c)&nbsp;Supplementary Amount for Changes to the Executive Management</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reicht der von den Aktion&auml;ren an einer
    Generalversammlung genehmigte Maximalgesamtbetrag der Verg&uuml;tung der Mitglieder der Gesch&auml;ftsleitung f&uuml;r die
    Verg&uuml;tung eines Mitglieds der Gesch&auml;ftsleitung, das nach dem Zeitpunkt der letzten Genehmigung durch die Aktion&auml;re
    an einer Generalversammlung Mitglied der Gesch&auml;ftsleitung wird oder innerhalb der Gesch&auml;ftsleitung bef&ouml;rdert
    wird, nicht aus, sind die Gesellschaft oder von ihr kontrollierte Gesellschaften erm&auml;chtigt, jedem solchem Mitglied der
    Gesch&auml;ftsleitung f&uuml;r die Dauer der bereits durch die Aktion&auml;re an einer Generalversammlung genehmigten Verg&uuml;tungsperiode(n)
    eine Verg&uuml;tung zu bezahlen oder auszurichten. Eine solche Verg&uuml;tung darf je neu ernanntes oder bef&ouml;rdertes
    Mitglied der Gesch&auml;ftsleitung und je relevante Verg&uuml;tungsperiode unter keinen Umst&auml;nden den letzten von den
    Aktion&auml;ren an einer Generalversammlung genehmigten Maximalgesamtbetrag der Verg&uuml;tung &uuml;bersteigen. Verg&uuml;tung,
    die gem&auml;ss diesem Art.&nbsp;22 c) ausgerichtet wird, bedarf keiner weiteren Genehmigung durch die Aktion&auml;re.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the maximum aggregate amount of compensation
    of Executive Management members ratified by the shareholders at a general meeting of the shareholders is not sufficient to
    also cover the compensation of a member of Executive Management who becomes a member of Executive Management or is being promoted
    within Executive Management after the date of the most recent shareholder ratification at a general meeting of the shareholders,
    the Company or companies under its control shall be authorized to pay and/or grant compensation to such member of Executive
    Management in relation to the compensation period(s) already ratified by the shareholders at a general meeting of the shareholders.
    In no event shall any such compensation for each newly appointed or promoted member of Executive Management and for each relevant
    compensation period exceed the maximum aggregate amount of Executive Management compensation last ratified by shareholders
    at a general meeting of the shareholders. No further shareholder ratification shall be required for any compensation paid
    and/or granted in accordance with this Art.&nbsp;22 c).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 23&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pr&auml;senzquorum</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 23&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Presence Quorum</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jede Beschlussfassung oder Wahl setzt zu ihrer
    G&uuml;ltigkeit im Zeitpunkt der Konstituierung der Generalversammlung ein Pr&auml;senzquorum von Aktion&auml;ren, welche
    mindestens die Mehrheit aller Gesamtstimmen vertreten, voraus. Die Aktion&auml;re k&ouml;nnen mit der Behandlung der Traktanden
    fortfahren, selbst wenn Aktion&auml;re nach Bekanntgabe des Quorums durch den Vorsitzenden die Generalversammlung verlassen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The adoption of any resolution or election requires
    the presence of at least a majority of the Total Voting Shares at the time when the general meeting of the shareholders proceeds
    to business. The shareholders present at a general meeting of the shareholders may continue to transact business, despite
    the withdrawal of shareholders from such general meeting of the shareholders following announcement of the presence quorum
    at that meeting.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 45pt; text-indent: -45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Der Verwaltungsrat</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Board of Directors</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 24&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zusammensetzung</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 24&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Composition</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Verwaltungsrat besteht aus mindestens einem
    und h&ouml;chstens zehn Mitgliedern.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Board of Directors shall consist of no less
    than one and no more than ten members.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Solange die Namenaktien der Gesellschaft an
    einer in- oder ausl&auml;ndischen B&ouml;rse kotiert sind, soll der Verwaltungsrat mindestens drei unabh&auml;ngige Verwaltungsr&auml;te
    (Unabh&auml;ngige Verwaltungsr&auml;te) ausweisen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As long as the registered Shares of the Company
    are listed on a domestic or foreign Exchange, the Company shall maintain a minimum of three Independent Directors on its Board
    of Directors.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 17; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 25&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amtsdauer</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 25&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term of Office</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Aktion&auml;re w&auml;hlen die Mitglieder
    des Verwaltungsrates und den Verwaltungsratspr&auml;sidenten einzeln an einer Generalversammlung f&uuml;r eine Amtsdauer bis
    zum Abschluss der n&auml;chsten ordentlichen Generalversammlung. Wiederwahl ist m&ouml;glich. Ist das Amt des Verwaltungsratspr&auml;sidenten
    aus irgendeinem Grund vakant, ernennt der Verwaltungsrat einen Verwaltungsratspr&auml;sidenten f&uuml;r eine Amtsdauer bis
    zum Abschluss der n&auml;chsten ordentlichen Generalversammlung. </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The shareholders shall elect the members of
    the Board of Directors and the chair of the Board of Directors individually at a general meeting of shareholders for a term
    of office extending until completion of the next annual general meeting. Re-election is possible. If the office of the chair
    of the Board of Directors is vacant, for any reason, the Board of Directors shall appoint a new chair from among its members
    for a term of office extending until completion of the next annual general meeting.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wenn ein Verwaltungsratsmitglied vor Ablauf
    seiner Amtsdauer aus irgendeinem Grund ersetzt wird, endet die Amtsdauer des an seiner Stelle gew&auml;hlten neuen Verwaltungsratsmitgliedes
    mit dem Ende der Amtsdauer seines Vorg&auml;ngers.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If, before the expiration of his term of office,
    a member of the Board of Director should be replaced for any reason, the term of office of the newly elected member of the
    Board of Directors shall expire at the end of the term of office of his predecessor.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ist an der Gesellschaft eine juristische Person
    oder eine Handelsgesellschaft beteiligt, so ist sie als solche nicht als Mitglied des Verwaltungsrates w&auml;hlbar; dagegen
    k&ouml;nnen an ihrer Stelle ihre Vertreter gew&auml;hlt werden.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If a legal entity or another commercial enterprise
    is a shareholder of the Company, it shall not be eligible for membership on the Board of Directors; however, its representatives
    may be elected in lieu thereof.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 26&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Konstituierung</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 26&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Constitution</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vorbeh&auml;ltlich der Wahl des Verwaltungsratspr&auml;sidenten
    und der Mitglieder des Verg&uuml;tungsausschusses durch die Aktion&auml;re an einer Generalversammlung&nbsp;&nbsp;bestimmt
    der Verwaltungsrat seine Organisation selbst. Er kann einen oder mehrere Vize-Pr&auml;sidenten w&auml;hlen. Er bestellt einen
    Sekret&auml;r, der nicht Mitglied des Verwaltungsrates sein muss. Vorbeh&auml;ltlich des anwendbaren Rechts und dieser Statuten
    regelt der Verwaltungsrat die Einzelheiten seiner Organisation in einem Organisationsreglement.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except for the election of the chair of the
    Board of Directors and the members of the Compensation Committee by the shareholders at a General Meeting of Shareholders,
    the Board of Directors shall determine its own organization. It may elect one or more vice-chairs. It shall appoint a Secretary,
    who need not be a member of the Board of Directors. Subject to applicable law and these Articles of Association, the Board
    of Directors shall establish the particulars of its organization in organizational regulations.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 27&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aufgaben</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 27&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Duties</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Verwaltungsrat besorgt die laufenden Gesch&auml;fte
    und vertritt die Gesellschaft nach aussen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Board of Directors shall manage the ongoing
    business and represent the Company externally.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Verwaltungsrat hat die folgenden un&uuml;bertragbaren
    und unentziehbaren Aufgaben:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Board of Directors has the following non-transferable
    and inalienable duties:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oberleitung der Gesellschaft und Erteilung der
    n&ouml;tigen Weisungen;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supreme management
    of the Company and issuance of the relevant instructions;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Festlegung der Organisation, sofern in diesen
    Statuten nicht anders geregelt;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Determination of
    the organisation, except as stated otherwise in these Articles of Association;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ausgestaltung des Rechnungswesens, der Finanzkontrolle
    sowie der Finanzplanung, sofern diese f&uuml;r die F&uuml;hrung der Gesellschaft notwendig ist;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Structuring of the
    accounting system, the financial controls and the financial planning to the extent that this is necessary for the management
    of the Company;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ernennung und Abberufung der mit der Gesch&auml;ftsf&uuml;hrung
    und der Vertretung betrauten Personen sowie Regelung der Zeichnungsberechtigung;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Appointment and
    removal of the persons entrusted with the management and representation of the Company as well as regulation of signatory
    power;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oberaufsicht &uuml;ber die mit der Gesch&auml;ftsf&uuml;hrung
    betrauten Personen, namentlich im Hinblick auf die Befolgung der Gesetze, Statuten, Reglemente und Weisungen;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Overall supervision
    of the persons entrusted with the management of the Company, in particular with regard to their compliance with the law, the
    Articles of Association and other internal rules and regulations;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Erstellung des Gesch&auml;ftsberichtes, des
    Verg&uuml;tungsberichtes sowie Vorbereitung der Generalversammlung und Ausf&uuml;hrung ihrer Beschl&uuml;sse;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preparation of the
    annual business report, the compensation report and the general meeting of the shareholders, as well as implementation of
    its resolutions;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 18; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Benachrichtigung des Richters im Falle der &Uuml;berschuldung;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.7pt; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notification of
    the judge in the case of over-indebtedness;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beschlussfassung &uuml;ber die nachtr&auml;gliche
    Leistung von Einlagen auf nicht voll liberierte Aktien;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Passing of resolutions
    regarding retroactive payments related to partly paid-in shares;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Feststellungsbeschl&uuml;sse bei Kapitalerh&ouml;hungen
    und daraus folgende Statuten&auml;nderungen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Declaratory resolutions
    regarding capital increases and consequential amendments of the Articles of Association.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Er hat &uuml;berdies die folgenden Aufgaben:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition, the Board of Directors shall have
    the following duties:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F&uuml;hrung der gem&auml;ss Organisationsreglement
    dem Verwaltungsrat vorbehaltenen Gesch&auml;fte (vgl. Art. 30 Abs. 2);</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management of transactions reserved to the Board
    of Directors by the Organizational Regulations (cf. Art. 30 paragraph 2);</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Antragstellung betreffend Verwendung des Bilanzgewinnes;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proposals regarding the application of the balance
    sheet profit;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Festlegung des Gesch&auml;ftsjahres (vgl. Art.
    36);</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Defining the business year (cf. Art. 36).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Behandlung von Eintragungsgesuchen (vgl. Art.
    8).</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Treatment of registration applications (cf.
    Art. 8).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Im &Uuml;brigen kann der Verwaltungsrat in allen
    Angelegenheiten Beschluss fassen, die nicht nach Gesetz, Statuten oder Reglement der Generalversammlung oder einem anderen
    Organ der Gesellschaft vorbehalten oder &uuml;bertragen sind.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Otherwise, the Board of Directors may resolve
    on all matters not reserved or assigned to the general meeting of the shareholders or another corporate body of the Company
    by law, the Articles of Association or other internal rules and regulations.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Mitglieder des Verwaltungsrates zeichnen
    kollektiv zu zweien. Geh&ouml;rt dem Verwaltungsrat nur eine Person an, so ist diese einzelzeichnungsberechtigt.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The members of the Board of Directors shall
    have the power of joint signatories. Where the Board of Directors consists of just one person, he shall have the power of
    single signatory.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR STYLE="clear: both">
    <B>Art. 28&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schadloshaltung</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 28&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indemnification</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Im Rahmen des gesetzlich Zul&auml;ssigen, h&auml;lt
    die Gesellschaft s&auml;mtliche Personen sowie deren Erben, Konkurs- oder Nachlassmassen, welche wegen ihrer T&auml;tigkeit
    als Verwaltungsrat, Mitglied der Gesch&auml;ftsleitung, Officer, Angestellte, Agent oder weil sie in einer anderen Funktion
    f&uuml;r oder im Namen der Gesellschaft (einschliesslich solcher T&auml;tigkeiten, die diese Personen f&uuml;r eine andere
    Gesellschaft, eine nicht rechtsf&auml;hige Personengesellschaft, einen Joint Ventures, einen Trusts, eine sonstige Gesch&auml;ftseinheit
    oder fiduziarisch im Zusammenhang mit von der Gesellschaft unterhaltenen Mitarbeiterbeteiligungspl&auml;nen f&uuml;r oder
    im Namen oder auf Aufforderung der Gesellschaft aus&uuml;bten oder aus&uuml;ben) t&auml;tig wurden, Partei in drohenden, h&auml;ngigen
    oder abgeschlossenen Klagen, Verfahren oder Untersuchungen zivil-, straf-, verwaltungsrechtlicher oder anderer Natur (einschliesslich
    allf&auml;lliger Klagen der Gesellschaft) waren oder werden, schadlos von s&auml;mtlichen Auslagen (einschliesslich Anwaltskosten),
    Abgaben, Verlusten und Sch&auml;den, die diese in diesem Zusammenhang zu bezahlen und damit erlitten haben. Im Rahmen des
    gesetzlich zul&auml;ssigen soll die Gesellschaft Gerichts- und Anwaltskosten im Zusammenhang mit solchen Klagen und Verfahren
    (einschliesslich Rechtsmittelverfahren) bevorschussen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company shall indemnify, to the full extent
    now or hereafter permitted by law, any person (including his heirs, executors and administrators) who was or is a party or
    is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal,
    administrative or investigative (including, without limitation, an action by or in the right of the Company), by reason of
    his acting as, or having in the past acted as, a member of the Board of Director, member of Executive Management, officer,
    employee or agent of, or his acting in any other capacity for or on behalf of, the Company (including his serving for, on
    behalf of or at the request of the Company as a member of the Board of Director, member of Executive Management, officer,
    employee or agent of another company, partnership, joint venture, trust or other enterprise, or in a fiduciary or other capacity
    with respect to any employee benefit plan maintained by the Company) against any expense (including attorneys&rsquo; fees),
    judgments, fines and amounts paid in settlement actually and reasonably incurred by such person (or his heirs, executors and
    administrators) in respect thereof. The Company shall advance the expenses of defending any such action, suit or proceeding
    (including appeals) in accordance with and to the full extent now or hereafter permitted by law.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Verwaltungsrat ist unabh&auml;ngig von der
    Interessenlage des einzelnen Mitgliedes berechtigt, namens der Gesellschaft und zugunsten der in Art. 28 Abs. 2 dieser Statuten
    erw&auml;hnten Personen Versicherungen f&uuml;r die gegen diese Personen im Zusammenhang mit den oben beschriebenen Funktionen
    erhobenen Haftungsanspr&uuml;che sowie deren Folgen abzuschliessen, unabh&auml;ngig davon, ob die Gesellschaft das Recht bzw.
    die Macht h&auml;tte, diese Person in Anwendung von Art. 28 schadlos zu halten.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Board of Directors may, notwithstanding
    any interest of the member of the Board of Directors in such action, authorize the Company to purchase and maintain insurance
    on behalf of any person described in Art. 28 paragraph 2 of these Articles of Association, against any liability asserted
    against him and incurred by him in any such capacity, or arising out of his status as such, whether or not the Company would
    have the power to indemnify him against such liability under the provisions of this Art. 28.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 19; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 28 ist auf alle Anspr&uuml;che, Klagen,
    Prozesse anwendbar, die nach Inkrafttreten dieser Bestimmung eingeleitet werden, unabh&auml;ngig davon, ob sich diese auf
    T&auml;tigkeiten oder Unterlassungen vor Inkrafttreten dieser Bestimmung st&uuml;tzen. Die Vorschrift in diesem Art. 28 soll
    als Vertrag zwischen der Gesellschaft und jedem Verwaltungsratsmitglied, Mitglied der Gesch&auml;ftsleitung, Direktor, Angestellten
    und Agenten, der in den weiter oben beschriebenen Funktionen zu einem beliebigen Zeitpunkt w&auml;hrend der G&uuml;ltigkeit
    dieser Bestimmung und des anwendbaren Rechts t&auml;tig war, gelten, und die Aufhebung oder &Auml;nderung dieser Bestimmung
    soll die zu jenem Zeitpunkt bestehenden Rechte und Pflichten bez&uuml;glich des zu jenem Zeitpunkt bestehenden Tatbestandes
    oder der zu jenem oder einem sp&auml;teren Zeitpunkt gest&uuml;tzt auf diesen Sachverhalt geltend gemachten oder angedrohten
    Klagen, Anspr&uuml;chen oder Prozessen nicht ber&uuml;hren. Sollten einzelne Bestimmungen dieses Art. 28 aus gesetzlichen
    oder regulatorischen Gr&uuml;nden ung&uuml;ltig sein oder in ihrer Anwendung eingeschr&auml;nkt werden, soll dies die Anwendung
    dieser Bestimmung oder die G&uuml;ltigkeit dieser Bestimmung nicht ber&uuml;hren. Die Rechte im Zusammenhang mit der Schadloshaltung
    und der Bevorschussung in diesem Artikel sind weder exklusiv noch sollen sie allf&auml;llige bestehende andere Rechte der
    betroffenen Verwaltungsratsmitglieder, Gesch&auml;ftsleitungsmitgliedern, Direktoren, Angestellten oder Agenten limitieren,
    die diese gest&uuml;tzt auf Vertr&auml;ge oder gest&uuml;tzt auf Beschl&uuml;sse der Organe der Gesellschaft oder in ihrer
    Funktion haben, limitieren. Die Gesellschaft ist dem Grundsatz verpflichtet, wonach die Schadloshaltung der in diesem Artikel
    definierten Personen im Rahmen des gesetzlich zul&auml;ssigen entsprochen werden soll.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The provisions of this Art. 28 shall be applicable
    to all actions, claims, suits or proceedings made or commenced after the adoption hereof, whether arising from acts or omissions
    to act occurring before or after its adoption. The provisions of this Art. 28 shall be deemed to be a contract between the
    Company and each member of the Board of Director, officer, employee or agent who serves in such capacity at any time while
    this Article and the relevant provisions of the law, if any, are in effect, and any repeal or modification thereof shall not
    affect any rights or obligations then existing with respect to any state of facts or any action, suit or proceeding then or
    theretofore existing, or any action, suit or proceeding thereafter brought or threatened based in whole or in part on any
    such state of facts. If any provision of this Art. 28 shall be found to be invalid or limited in application by reason of
    any law or regulation, it shall not affect any other application of such provision or the validity of the remaining provisions
    hereof. The rights of indemnification and advancement of expenses provided in this Article shall neither be exclusive of,
    nor be deemed in limitation of, any rights to which any such member of the Board of Director, officer, employee or agent may
    otherwise be entitled or permitted by contract, vote of members or directors or otherwise, or as a matter of law, both as
    to actions in his official capacity and actions in any other capacity while holding such office, it being the policy of the
    Company that indemnification of the specified individuals shall be made to the fullest extent permitted by law.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 45pt; text-indent: -45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 29&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Einberufung und Beschlussfassung</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 29&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calling of Meetings and Quorum</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Verwaltungsrat versammelt sich, so oft es
    die Gesch&auml;fte erfordern, jedoch mindestens einmal im Jahr. Er wird durch seinen Pr&auml;sidenten oder den Vizepr&auml;sidenten
    einberufen. Jedes Mitglied hat jederzeit das Recht, unter schriftlicher Angabe der Gr&uuml;nde die unverz&uuml;gliche Einberufung
    einer Verwaltungsratssitzung zu verlangen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Board of Directors shall meet as often as
    business demands but at least once a year. It shall be called by the Chairman of the Board of Directors or the vice-chairman.
    Each member may, by giving written reasons therefore, demand that a meeting of the Board of Directors be held without delay.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Einberufung des Verwaltungsrates hat in
    der Regel mindestens f&uuml;nf Werktage vor dem Sitzungstage zu erfolgen. Tag, Zeit und Ort der Sitzung und die Verhandlungsgegenst&auml;nde
    (Traktandenliste) sind bei der Einberufung bekannt zu geben. Gleichzeitig werden die massgebenden Sitzungsunterlagen zugestellt.
    &Uuml;ber Gegenst&auml;nde, die in der Traktandenliste nicht aufgef&uuml;hrt sind, k&ouml;nnen in dringenden F&auml;llen Beschl&uuml;sse
    gefasst werden.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The calling of a meeting of the Board of Directors
    shall, as a rule, be made at least five working days before the date of the meeting. Day, time, and place of the meeting as
    well as the matters for discussion (agenda) shall be notified at the time of the calling. At the same time, the related documents
    for the meeting shall be provided. Matters not contained in the agenda may be resolved upon in urgent cases.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Verwaltungsrat ist beschlussf&auml;hig,
    wenn die absolute Mehrheit der Mitglieder anwesend ist. F&uuml;r Beschl&uuml;sse, die im Rahmen von Kapitalerh&ouml;hungen
    zu treffen sind, ist der Verwaltungsrat auch beschlussf&auml;hig, wenn nur ein Mitglied anwesend ist.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Board of Directors is quorate when the absolute
    majority of members is present. Where a resolution is to be taken in the context of a capital increase, the Board of Directors
    is also quorate when only one member is present.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 20; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Verwaltungsrat fasst seine Beschl&uuml;sse
    und trifft seine Wahlen mit der Mehrheit der abgegebenen Stimmen. Er kann h&ouml;here Beschlussfassungsquoren einf&uuml;hren.
    Diese m&uuml;ssen in einem Reglement festgehalten werden. Bei Stimmengleichheit gibt der Vorsitzende den Stichentscheid, bei
    Wahlen entscheidet das Los.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Board of Directors shall pass its resolutions
    and votes with a majority of the votes cast. The Board of Directors may introduce higher requirements to pass votes. Such
    requirements shall be contained in an internal regulation. Where votes are tied, the chairperson shall give the casting vote;
    in the case of elections this shall be decided by lot.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beschl&uuml;sse k&ouml;nnen auch auf dem Weg
    der schriftlichen Zustimmung (durch Brief, Telefax oder E-Mail) zu einem Antrag gefasst werden, sofern nicht ein Mitglied
    m&uuml;ndliche Beratung verlangt. Diese Beschl&uuml;sse bed&uuml;rfen der Einstimmigkeit und sind zusammen mit den anderen
    Verwaltungsratsprotokollen aufzubewahren.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Resolutions may also be passed by way of written
    consent (by letter, fax or email) provided no member has demanded an oral consultation. These resolutions require unanimity
    and shall be kept with the minutes of the meetings of the Board of Directors.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 45pt; text-indent: -45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 30&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aussch&uuml;sse und Delegation
    </B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 30&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Committees and Delegation</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Verwaltungsrat kann die Vorbereitung, die
    Ausf&uuml;hrung seiner Beschl&uuml;sse und die &Uuml;berwachung von Gesch&auml;ften Aussch&uuml;ssen oder einzelnen Mitgliedern
    zuweisen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Board of Directors may delegate the preparation
    and implementation of its resolutions and the oversight of business to committees or individual members.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Verg&uuml;tungsausschuss besteht aus mindestens
    drei (3) Mitgliedern des Verwaltungsrates. Die Mitglieder des Verg&uuml;tungsausschusses m&uuml;ssen die anwendbaren Anforderungen
    an Unabh&auml;ngigkeit, Erfahrung oder andere regulatorische Anforderungen, einschliesslich des NASDAQ Global Select Market
    oder einer anderen B&ouml;rse, Rule 10C-1(b)(1) des Securities Exchange Act von 1934, in seiner ge&auml;nderten Version (der
    &rdquo;Exchange&nbsp;Act&rdquo;), Rule 16b-3 des Exchange Act und Section 162(m) des Internal Revenue Code, erf&uuml;llen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Compensation Committee shall consist of
    no fewer than three (3) members of the Board of Directors. The members of the Compensation Committee shall meet any applicable
    independence, experience and other regulatory requirements, including of the NASDAQ Global Select Market or any other stock
    exchange, Rule 10C-1(b)(1) of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange&nbsp;Act&rdquo;), Rule 16b-3
    of the Exchange Act, and Section 162(m) of the Internal Revenue Code.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Aktion&auml;re w&auml;hlen die Mitglieder
    des Verg&uuml;tungsausschusses einzeln an einer Generalversammlung f&uuml;r eine Amtsdauer bis zum Abschluss der n&auml;chsten
    ordentlichen Generalversammlung. Wiederwahl ist m&ouml;glich. Bei Vakanzen im Verg&uuml;tungsausschuss aus irgendeinem Grund
    ernennt der Verwaltungsrat aus seiner Mitte Ersatzmitglieder f&uuml;r eine Amtsdauer bis zum Abschluss der n&auml;chsten ordentlichen
    Generalversammlung.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The shareholders shall elect the members of
    the Compensation Committee individually at a general meeting of the shareholders for a term of office extending until completion
    of the next annual general meeting. Re-election is possible. If there are vacancies on the Compensation Committee, for any
    reason, the Board of Directors shall appoint from among its members substitutes for a term of office extending until completion
    of the next annual general meeting.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Verwaltungsrat ernennt den Vorsitzenden
    des Verg&uuml;tungsausschusses. Vorbeh&auml;ltlich anwendbaren Rechts und dieser Statuten regelt der Verwaltungsrat die Einzelheiten
    der Organisation des Verg&uuml;tungsausschusses in einem Reglement oder einer Satzung.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Board of Directors shall elect the chairperson
    of the Compensation Committee. Subject to applicable law and these Articles of Association, the Board of Directors shall establish
    the particulars of the organization of the Compensation Committee in regulations or a charter.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 21; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Verg&uuml;tungsausschuss hat, unter anderem,
    die Aufgabe, (1) die Verg&uuml;tung und die damit verbundene Offenlegung durch den Verwaltungsrat zu &uuml;berpr&uuml;fen
    und dem Verwaltungsrat Empfehlungen diesbez&uuml;glich zu unterbreiten; (2) den Verwaltungsrat in der Erf&uuml;llung seiner
    Pflichten bez&uuml;glich der Verg&uuml;tung der Mitglieder der Gesch&auml;ftsleitung und der damit verbundenen Offenlegung,
    einschliesslich der Erarbeitung von Richtlinien betreffend die Verg&uuml;tungs- und Leistungsprogramme der Gesch&auml;ftsleitung
    zu unterst&uuml;tzen; und (3) die Antr&auml;ge des Verwaltungsrates an die Generalversammlung betreffend die Verg&uuml;tung
    des Verwaltungsrates und der Gesch&auml;ftsleitung vorzubereiten und dem Verwaltungsrat Empfehlungen diesbez&uuml;glich zu
    unterbreiten.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Compensation Committee shall, among other
    things, (1)&nbsp;consider and make recommendations to the Board of Directors on the compensation and related disclosure of
    the Board of Directors; (2)&nbsp;assist the Board of Directors in discharging its responsibilities relating to compensation
    and related disclosure of the members of Executive Management, including the development of policies relating to Executive
    Management compensation and benefit programs; and (3)&nbsp;prepare and recommend to the Board of Directors the proposals of
    the Board of Directors to the general meeting of the shareholders regarding the compensation of the Board of Directors and
    Executive Management.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Verwaltungsrat regelt die Einzelheiten der
    Befugnisse und Pflichten des Verg&uuml;tungsausschusses in einem Reglement oder einer Satzung.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Board of Directors shall establish the particulars
    of the powers and duties of the Compensation Committee in regulations or a charter.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unter Vorbehalt seiner un&uuml;bertragbaren
    und unentziehbaren Aufgaben ist der Verwaltungsrat ferner befugt, die Gesch&auml;ftsf&uuml;hrung oder einzelne Zweige derselben
    und die Vertretung der Gesellschaft an eine oder mehrere Personen, Mitglieder des Verwaltungsrates (Delegierte) oder Dritte
    (Direktoren oder Gesch&auml;ftsf&uuml;hrer), zu &uuml;bertragen. Die Personen, die vom Verwaltungsrat mit Gesch&auml;ftsleitungsaufgaben
    betraut sind, und welche gem&auml;ss einer solchen Delegation die haupts&auml;chliche Verantwortung f&uuml;r die Gesch&auml;ftsf&uuml;hrung
    der Gesellschaft haben, werden in diesen Statuten als &ldquo;<B>Gesch&auml;ftsleitung</B>&rdquo; bezeichnet. Er legt die dazu
    notwendigen Einzelheiten in einem Organisationsreglement fest. </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject to its non-transferable and inalienable
    duties, the Board of Directors is furthermore empowered to delegate executive management of the business or individual branches
    of the same and the representation of the Company to one or more persons, members of the Board of Directors (delegates) or
    third parties (directors or managers). The persons to whom the Board of Directors delegates executive management, and who
    pursuant to such delegation shall have the primary responsibility for the executive management of the Company, shall be referred
    to in these Articles of Association as &ldquo;<B>Executive Management&rdquo;</B>. The Board of Directors shall stipulate the
    necessary details in the Organizational Regulations. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR STYLE="clear: both">
    <B>Art. 31&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Protokoll</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 31&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minutes</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&Uuml;ber die Verhandlungen und Beschl&uuml;sse
    des Verwaltungsrates ist ein Protokoll zu f&uuml;hren. Das Protokoll ist vom Vorsitzenden und vom Sekret&auml;r zu unterzeichnen.
    Besteht der Verwaltungsrat aus nur einem Mitglied, muss auch dieser &uuml;ber seine Entscheidungen Protokoll f&uuml;hren.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minutes shall be recorded of the discussions
    and resolutions of the Board of Directors. The minutes shall be signed by the Chairperson and the Secretary. Where the Board
    of Directors consists of only one member, such person must also keep a record of his decisions.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Protokolle sind vom Verwaltungsrat jeweils
    in der n&auml;chsten Sitzung zu genehmigen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The minutes shall be approved by the Board of
    Directors in the next meeting.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 32&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recht auf Auskunft und Einsicht</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 32&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Right to Information and Inspection</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jedes Mitglied des Verwaltungsrates kann Auskunft
    &uuml;ber alle Angelegenheiten der Gesellschaft verlangen. In den Sitzungen sind alle Mitglieder des Verwaltungsrates sowie
    die mit der Gesch&auml;ftsf&uuml;hrung betrauten Personen zur Auskunft verpflichtet. Ausserhalb der Sitzungen kann jedes Mitglied
    von den mit der Gesch&auml;ftsf&uuml;hrung betrauten Personen Auskunft &uuml;ber den Gesch&auml;ftsgang und, mit Erm&auml;chtigung
    des Pr&auml;sidenten, auch &uuml;ber einzelne Gesch&auml;fte verlangen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each member of the Board of Directors may demand
    information on all matters concerning the Company. At meetings, all members of the Board of Directors as well as the persons
    entrusted with the management of the Company are under a duty to provide information. Outside the meetings, each member can
    demand information from those persons entrusted with the management about the course of business and, with the authorization
    of the president, about individual transactions.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soweit es f&uuml;r die Erf&uuml;llung einer
    Aufgabe erforderlich ist, kann jedes Mitglied dem Pr&auml;sidenten beantragen, dass ihm B&uuml;cher und Akten vorgelegt werden.
    Weist der Pr&auml;sident ein Gesuch auf Auskunft, Anh&ouml;rung oder Einsicht ab, so entscheidet der Verwaltungsrat. Regelungen
    oder Beschl&uuml;sse des Verwaltungsrates, die das Recht auf Auskunft und Einsichtnahme der Mitglieder des Verwaltungsrates
    erweitern, bleiben vorbehalten.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To the extent it is necessary for the performance
    of a task, each member may apply to the Chairman of the Board of Directors that the books and files are made available to
    him. Where the Chairman of the Board of Directors rejects an application for information, a hearing or inspection, the Board
    of Directors shall decide. Regulations or resolutions of the Board of Directors that provide the members of the Board of Directors
    with the right to information and inspection remain reserved.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 22; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 42.55pt; text-indent: -42.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art.
    32 a)&nbsp;Vertr&auml;ge betreffend Verg&uuml;tung mit Mitgliedern des Verwaltungsrates und der Gesch&auml;ftsleitung</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 42.55pt; text-indent: -42.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art.
    32 a)&nbsp;Agreements Regarding Compensation with Members of the Board of Directors and Executive Management</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 45pt; text-indent: -45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Gesellschaft oder von ihr kontrollierte
    Gesellschaften k&ouml;nnen mit Mitgliedern des Verwaltungsrates unbefristete oder befristete Mandatsvertr&auml;ge oder andere
    Vertr&auml;ge &uuml;ber deren Verg&uuml;tung als Verwaltungsr&auml;te abschliessen. Die Dauer von befristeten Vertr&auml;gen
    darf die Amtsdauer eines Verwaltungsrates nicht &uuml;berschreiten. Eine Erneuerung eines&nbsp;&nbsp;befristeten Vertrages
    ist zul&auml;ssig. Unbefristete Vertr&auml;ge haben eine K&uuml;ndigungsfrist von maximal einer Amtsdauer.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company or companies under its control may
    enter into fixed or indefinite mandate or other agreements with the members of the Board of Directors regarding their compensation
    as directors. The duration of fixed term agreements may not exceed a director&rsquo;s term of office. A renewal of a fixed
    term agreement is permissible. Agreements for an indefinite term may have a termination notice period not exceeding a term
    of office.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Gesellschaft oder von ihr kontrollierte
    Gesellschaften k&ouml;nnen mit Mitgliedern der Gesch&auml;ftsleitung unbefristete oder befristete Arbeitsvertr&auml;ge oder
    andere Vertr&auml;ge abschliessen. Befristete Vertr&auml;ge haben eine H&ouml;chstdauer von einem (1) Jahr. Eine Erneuerung
    eines befristeten Vertrages ist zul&auml;ssig. Unbefristete Vertr&auml;ge haben eine K&uuml;ndigungsfrist von maximal &nbsp;zw&ouml;lf
    (12) Monaten.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company or companies under its control may
    enter into employment or other agreements with the members of Executive Management for a fixed term or for an indefinite term.
    Agreements for a fixed term may have a maximum term of one (1) year. A renewal of a fixed term agreement is permissible. Agreements
    for an indefinite term may have a termination notice period of a maximum twelve (12) months.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mitglieder der Gesch&auml;ftsleitung k&ouml;nnen
    w&auml;hrend der K&uuml;ndigungsfrist von ihrer Arbeitspflicht befreit werden. Des Weiteren ist es zul&auml;ssig, dass die
    Gesellschaft oder von ihr kontrollierte Gesellschaften Aufhebungs- oder &auml;hnliche Vereinbarungen abschliessen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Members of Executive Management may be released
    from their obligation of work during the time of the termination notice period. Further, it shall be permissible for the Company
    or companies under its control to enter into termination or similar agreements.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Gesellschaft oder von ihr kontrollierte
    Gesellschaften k&ouml;nnen mit Mitgliedern der Gesch&auml;ftsleitung Konkurrenzverbote f&uuml;r die Zeit nach Beendigung des
    Arbeitsvertrags vereinbaren. Die gesamte Abgeltung eines solchen Konkurrenzverbots darf die an dieses Mitglied der Gesch&auml;ftsleitung
    f&uuml;r das letzte volle Gesch&auml;ftsjahr, w&auml;hrend dem er oder sie von der Gesellschaft oder von einer von ihr kontrollierten
    Gesellschaft angestellt war, ausgerichtete Gesamtjahresverg&uuml;tung nicht &uuml;bersteigen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company or companies under its control may
    enter into non-competition agreements with members of Executive Management for the time after the termination of the employment
    agreement. The total consideration paid for a non-competition undertaking shall not exceed the total annual compensation paid
    to such member of Executive Management during the last full fiscal year in which he or she was employed at the Company or
    companies under its control.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 45pt; text-indent: -45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 45pt; text-indent: -45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art.
    32 b)&nbsp;Mandate ausserhalb des Konzerns</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art.&nbsp;32 b)&nbsp;Mandates Outside the Group
    </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 45pt; text-indent: -45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1) Kein Mitglied des Verwaltungsrates, das
    anderweitig eine Vollzeitbesch&auml;ftigung oder eine Teilzeitbesch&auml;ftigung von mehr als 16 Wochenstunden aus&uuml;bt,
    und kein Mitglied der Gesch&auml;ftsleitung kann mehr als sechs (6) zus&auml;tzliche Mandate wahrnehmen, wovon nicht mehr
    als &nbsp;zwei (2) in Zivilrechtlichen Personen sein d&uuml;rfen, deren Aktien an einer B&ouml;rse kotiert sind. Kein Mitglied
    des Verwaltungsrates, das ansonsten pensioniert ist oder anderweitig eine Teilzeitbesch&auml;ftigung von nicht mehr als 16
    Wochenstunden aus&uuml;bt, kann mehr als zehn (10) zus&auml;tzliche Mandate wahrnehmen, wovon nicht mehr als vier (4) in Zivilrechtlichen
    Personen sein d&uuml;rfen, deren Aktien an einer B&ouml;rse kotiert sind.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1) No member of the Board of Directors who
    otherwise holds full-time employment or part-time employment of more than 16 hours per week and no member of Executive Management
    may hold more than six (6) additional Mandates of which not more than two (2) Mandate<B>s</B> may be in Persons whose shares
    are listed on a stock exchange. No member of the Board of Directors who is otherwise retired or employed in part-time employment
    not exceeding 16 hours per week may hold more than ten (10) additional Mandates of which not more than four (4) Mandates may
    be in Persons whose shares are listed on a stock exchange.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 23; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2) Die folgenden Mandate fallen nicht unter
    die Beschr&auml;nkungen gem&auml;ss Abs.&nbsp;1 dieses Art.&nbsp;32 b):</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2) The following Mandates shall not be subject
    to the limitations set forth in para.&nbsp;1 of this Art.&nbsp;32 b):</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;Mandate in Zivilrechtlichen Personen, welche die Gesellschaft kontrollieren, durch die Gesellschaft kontrolliert werden oder
    unter gemeinsamer Kontrolle mit der Gesellschaft stehen;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;
    Mandates in any Person which controls, is controlled by or under common control with the Company;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;
    Mandate, die auf Anordnung der Gesellschaft oder von Zivilrechtlichen Personen, welche die Gesellschaft kontrollieren, durch
    die Gesellschaft kontrolliert werden oder unter gemeinsamer Kontrolle mit der Gesellschaft stehen, wahrgenommen werden. Kein
    Mitglied des Verwaltungsrates oder der Gesch&auml;ftsleitung kann mehr als zehn (10) solche Mandate wahrnehmen;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;
    Mandates held at the instruction of the Company or any Person which controls, is controlled by or under common control with
    the Company; provided, however, that no member of the Board of Directors or Executive Management shall hold more than ten
    (10) such Mandates;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&nbsp;&nbsp;
    Mandate in Vereinen, gemeinn&uuml;tzigen Organisationen, Stiftungen (einschliesslich Personalf&uuml;rsorgestiftungen), Trusts
    und &auml;hnliche Zivilrechtliche Personen. Kein Mitglied des Verwaltungsrates oder der Gesch&auml;ftsleitung kann mehr als
    zehn (10) solche Mandate wahrnehmen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&nbsp;&nbsp;
    Mandates in associations, charitable organizations, &nbsp;foundations (including in relation to post-retirement benefits),
    trusts and similar Persons; provided, however, that no member of the Board of Directors or Executive Management shall hold
    more than ten (10) such Mandates.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3) Eine vor&uuml;bergehende &Uuml;berschreitung
    der Beschr&auml;nkungen gem&auml;ss Abs.&nbsp;1 und 2 dieses Art.&nbsp;32 b) ist zul&auml;ssig.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3) A temporary exceedance of the limitations
    pursuant to para. 1 and para. 2 of this Art.&nbsp; 32 b) shall be permissible.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4) Der Begriff &ldquo;Mandate&rdquo;, so wie
    er in diesen Statuten verwendet wird, umfasst jeglichen Einsitz in das oberste Leitungs- oder Verwaltungsorgan einer Zivilrechtlichen
    Person, die zur Eintragung in ein Schweizerisches Handelsregister oder ein entsprechendes ausl&auml;ndisches Register verpflichtet
    ist. Mandate in verschiedenen Zivilrechtlichen Personen, welche unter einheitlicher Kontrolle oder gleicher wirtschaftlicher
    Berechtigung stehen, gelten als ein Mandat.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4) The term &ldquo;Mandate&rdquo;, as used
    in these Articles of Association, shall refer to any position in the supreme governing body of a Person that is required to
    be registered in a Swiss commercial register or a foreign register of equivalent nature. Mandates in different Persons that
    are under joint control or same beneficial ownership shall be deemed to be one Mandate. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 45pt; text-indent: -45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 45pt; text-indent: -45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art.
    32 c) Vorsorgeleistungen</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 32 c) Post-Retirement Benefits </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 45pt; text-indent: -45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Gesellschaft kann an Mitglieder der Gesch&auml;ftsleitung
    Vorsorgeleistungen ausserhalb der beruflichen Vorsorge ausrichten, soweit solche Vorsorgeleistungen 50% der jeweiligen Gesamtjahresverg&uuml;tung
    nicht &uuml;bersteigen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company may grant members of the Executive
    Management postretirement benefits beyond occupational pensions, provided, however, that any such post-retirement benefit
    may not exceed 50% of the respective total annual compensation.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 45pt; text-indent: -45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 33</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Zeichnungsberechtigung</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 33</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Signature Power</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die rechtsverbindliche Vertretung der Gesellschaft
    durch Mitglieder des Verwaltungsrates und durch Dritte wird in einem Organisationsreglement festgelegt.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The due and valid representation of the Company
    by members of the Board of Directors and other persons shall be set forth in Organizational Regulations.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Die Revisionsstelle</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    The Auditors</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 34</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Revision</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 34</B>&nbsp;&nbsp;&nbsp;&nbsp; <B>Audit</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Generalversammlung w&auml;hlt die Revisionsstelle.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The general meeting of the shareholders shall
    elect the Auditor.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sie kann auf die Wahl einer Revisionsstelle
    verzichten, wenn:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">It can waive the election of auditors where:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">die Voraussetzungen f&uuml;r eine ordentliche
    Revision nicht gegeben sind;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the requirements for an ordinary audit are not
    present;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">die Zustimmung s&auml;mtlicher Aktion&auml;re
    vorliegt und;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the consent of all shareholders has been given;
    and</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 24; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">die Gesellschaft nicht mehr als zehn Vollzeitstellen
    im Jahresdurchschnitt hat.</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the Company does not have more than ten full-time
    positions on average per year.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Haben die Aktion&auml;re auf eine eingeschr&auml;nkte
    Revision verzichtet, so gilt dieser Verzicht auch f&uuml;r die nachfolgenden Jahre. Jeder Aktion&auml;r hat jedoch das Recht,
    sp&auml;testens zehn Tage vor der Generalversammlung eine eingeschr&auml;nkte Revision zu verlangen. Die Generalversammlung
    muss diesfalls die Revisionsstelle w&auml;hlen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Where the shareholders have waived a limited
    statutory examination, this waiver applies also to the following year. Each shareholder may, however, demand a limited statutory
    examination at the latest ten days prior to the general meeting of the shareholders. The general meeting of the shareholders
    must in this case elect the Auditor.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 35</B>&nbsp;&nbsp;&nbsp;&nbsp; <B>Organisation
    der Revisionsstelle</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 35</B>&nbsp;&nbsp;&nbsp;&nbsp; <B>Organisation of the Auditor</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Als Revisionsstelle k&ouml;nnen eine oder mehrere
    nat&uuml;rliche oder juristische Personen oder Personengesellschaften gew&auml;hlt werden.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">One or several individuals or legal persons
    or partnerships may be elected as Auditors.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wenigstens ein Mitglied der Revisionsstelle
    muss seinen Wohnsitz, seinen Sitz oder eine eingetragene Zweigniederlassung in der Schweiz haben.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a minimum one member of the Auditor shall
    be resident or have a registered branch in Switzerland.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Muss die Gesellschaft ihre Jahresrechnung durch
    eine Revisionsstelle ordentlich pr&uuml;fen lassen im Sinne von:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Where the Company is required to arrange an
    ordinary audit of its annual financial accounts by auditors pursuant to:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 727 Abs. 1 Ziff. 2 oder Ziff. 3 OR;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 727 paragraph 1 section 2 or section 3
    CO;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 727 Abs. 2 OR</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Art. 727 paragraph 2 CO</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">w&auml;hlt die Generalversammlung einen zugelassenen
    Revisionsexperten nach den Vorschriften des Revisionsaufsichtsgesetzes (RAG) als Revisionsstelle.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the general meeting of the shareholders shall
    elect a licensed audit expert in accordance with the provisions of the Audit Oversight Act (RAG) as auditors.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ist die Gesellschaft zur eingeschr&auml;nkten
    Revision verpflichtet, kann als Revisionsstelle auch ein zugelassener Revisor nach den Vorschriften des RAG bezeichnet werden.
    Vorbehalten bleibt der Verzicht auf die Wahl einer Revisionsstelle nach Art. 34.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Where the Company is required to arrange a limited
    statutory examination a licensed auditor in accordance with the provisions of the RAG may also be appointed as auditors. Waiver
    of the election of auditors pursuant to Art. 34 remains reserved.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Revisionsstelle muss im Sinne von Art. 728
    bzw. 729 OR unabh&auml;ngig sein.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Auditor must be independent in accordance
    with Art. 728 respectively 729 CO.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Revisionsstelle wird f&uuml;r ein Gesch&auml;ftsjahr
    gew&auml;hlt. Ihr Amt endet mit der Abnahme der letzten Jahresrechnung. Die Wiederwahl ist m&ouml;glich. Die Generalversammlung
    kann die Revisionsstelle jederzeit mit sofortiger Wirkung abberufen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Auditor shall be appointed for one business
    year. Their term of office shall end with the approval of the final annual financial accounts. Re-appointment is possible.
    The general meeting of the shareholders may remove the Auditor with immediate effect at any time.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 42.55pt; text-indent: -42.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>D.&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; Rechnungslegung
    und Verwendung des Bilanzgewinnes</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 42.55pt; text-indent: -42.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>D.&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; Rendering
    of Accounts and Allocation of Balance Sheet Profit</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 36</B>&nbsp;&nbsp;&nbsp;&nbsp; <B>Jahresrechnung</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 36</B>&nbsp;&nbsp;&nbsp;&nbsp; <B>Annual
    Financial Accounts</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Jahresrechnung wird j&auml;hrlich auf den
    31. Dezember oder auf einen anderen, durch den Verwaltungsrat zu beschliessenden Termin abgeschlossen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The annual financial accounts shall be closed
    annually on the 31 December or another date determined by the Board of Directors.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 25; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Erfolgsrechnung, die Bilanz und der Anhang
    sind mindestens gem&auml;ss den gesetzlichen Bestimmungen von Art. 662a - 670 und 957 - 961 OR aufzustellen.</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The profit and loss statement, the balance sheet
    and notes shall be compiled as a minimum in accordance with the provisions of Art. 662a-670 and 957-961 CO.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 37</B>&nbsp;&nbsp;&nbsp;&nbsp; <B>Verwendung des Jahresgewinnes</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 37</B>&nbsp;&nbsp;&nbsp;&nbsp; <B>Application of the Annual
    Profit</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vom in der Jahresbilanz ausgewiesenen Jahresgewinn
    ist j&auml;hrlich ein Betrag von 5 % der allgemeinen Reserve zuzuweisen, bis diese 20 % des einbezahlten Aktienkapitals erreicht
    hat.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">An amount of 5 % of the annual profit identified
    in the annual financial accounts is to be allotted to the general reserves until this has reached 20 % of the paid-up share
    capital.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der verbleibende Jahresgewinnsaldo und ein allf&auml;lliger
    Gewinnvortrag fr&uuml;herer Gesch&auml;ftsjahre stehen unter Vorbehalt der zwingenden gesetzlichen Bestimmungen (Art. 671
    ff. OR) zur freien Verf&uuml;gung der Generalversammlung. Der Verwaltungsrat unterbreitet der Generalversammlung seine Vorschl&auml;ge
    betreffend die Behandlung s&auml;mtlicher Zuweisungen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The remaining annual profit and any balance
    of profit brought forward from previous business years shall, pursuant to binding provisions of the law (Art. 671 et seq.
    CO), be at the free disposal of the general meeting of the shareholders. The Board of Directors shall submit its proposals
    with respect to the treatment of any allocation to the general meeting of the shareholders.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Generalversammlung kann jederzeit die Errichtung
    von speziellen Reserven neben den vom Gesetz vorgeschriebenen Reserven beschliessen und &uuml;ber deren Verwendung bestimmen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The general meeting of the shareholders may
    at any time resolve to set up special reserves in addition to those required by law and determine their application.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividenden, welche nicht innerhalb von f&uuml;nf
    Jahren nach ihrem Auszahlungsdatum bezogen werden, fallen an die Gesellschaft und werden in die allgemeinen gesetzlichen Reserven
    gebucht.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividends that have not been collected within
    five years after their payment date shall enure to the Company and be allocated to the general statutory reserves.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 45pt; text-indent: -45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;   Schlussbestimmungen</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;   Final Provisions</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 38</B>&nbsp;&nbsp;&nbsp;&nbsp; <B>Aufl&ouml;sung und Liquidation</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 38</B>&nbsp;&nbsp;&nbsp;&nbsp; <B>Winding-up and Liquidation</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Generalversammlung kann jederzeit die Aufl&ouml;sung
    der Gesellschaft beschliessen. Die Aufl&ouml;sung und Liquidation sind gem&auml;ss den Vorschriften von Art. 736 ff. OR durchzuf&uuml;hren.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The general meeting of the shareholders may
    at any time resolve to wind-up the Company. The winding-up and liquidation of the Company shall be performed in accordance
    with Art. 736 et seq. CO.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Befugnisse der Generalversammlung bleiben
    auch w&auml;hrend der Liquidation mit der Einschr&auml;nkung gem&auml;ss Art. 739 OR bestehen. Insbesondere unterliegt die
    Liquidationsrechnung der Genehmigung durch die Generalversammlung.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The powers of the general meeting of the shareholders
    shall also continue during the liquidation, limited in accordance with Art. 739 CO. In particular, the liquidation accounts
    are subject to the approval of the general meeting of the shareholders.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Verwaltungsrat besorgt die Liquidation,
    sofern diese nicht durch Beschluss der Generalversammlung Dritten &uuml;bertragen wird.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Board of Directors shall conduct the liquidation
    to the extent that this is not transferred to a third party by a resolution of the general meeting of the shareholders.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Die Liquidatoren sind berechtigt, die Aktiven
    der Gesellschaft freih&auml;ndig zu ver&auml;ussern.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The liquidators may freely dispose of the assets
    of the Company.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nach erfolgter Tilgung der Schulden wird das
    Verm&ouml;gen nach Massgabe der eingezahlten Betr&auml;ge unter den Aktion&auml;ren verteilt, soweit diese Statuten nichts
    anderes vorsehen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon discharge of all liabilities, the assets
    of the Company shall be distributed to the shareholders pursuant to the amounts paid-up, unless these Articles of Association
    provide otherwise.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 26; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 39</B>&nbsp;&nbsp;&nbsp;&nbsp; <B>Mitteilungen und Bekanntmachungen</B></FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 39</B>&nbsp;&nbsp;&nbsp;&nbsp; <B>Communications and Notifications</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Publikationsorgan der Gesellschaft ist das Schweizerische
    Handelsamtsblatt. Der Verwaltungsrat kann weitere Publikationsorgane bestimmen.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company shall make any announcements in
    the Swiss Official Gazette of Commerce. The Board of Directors may appoint other publication bodies.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soweit keine individuelle Benachrichtigung durch
    das Gesetz, b&ouml;rsengesetzliche Bestimmungen oder diese Statuten verlangt wird, gelten s&auml;mtliche Mitteilungen an die
    Aktion&auml;re als g&uuml;ltig erfolgt, wenn sie im Schweizerischen Handelsamtsblatt ver&ouml;ffentlicht worden sind. Die
    Mitteilungen an die Namenaktion&auml;re erfolgen im Falle der in Art. 14 Abs. 3 erw&auml;hnten Hinweise an ihre letzte im
    Aktienbuch eingetragene Adresse durch Brief oder E-Mail. In allen anderen F&auml;llen k&ouml;nnen die Mitteilungen durch Ver&ouml;ffentlichung
    im Publikationsorgan erfolgen. Bekanntmachungen an die Gl&auml;ubiger erfolgen in den vom Gesetz vorgeschriebenen F&auml;llen
    durch Ver&ouml;ffentlichung im Publikationsorgan. Finanzinstitute, welche Aktien f&uuml;r wirtschaftlich Berechtigte halten
    und entsprechend im Aktienbuch eingetragen sind, gelten als bevollm&auml;chtigte Empf&auml;nger.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To the extent that individual notification is
    not required by law, stock Exchange regulations or these Articles of Association, all communications to the shareholders shall
    be deemed valid if published in the Swiss Official Gazette of Commerce. Notices to the registered shareholders shall in the
    case of the notifications set forth in Art. 14 paragraph 3 be sent by letter or electronic mail to the last address registered
    in the Share Register. In all other cases, they may be made by publication in the Company&rsquo;s official instrument for publications.
    Notices to creditors shall be given in the cases prescribed by law by publication in the Swiss Official Gazette of Commerce.
    Financial institutions holding Shares for beneficial owners and recorded in such capacity in the Share Register shall be deemed
    to be authorized recipients.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 45pt; text-indent: -45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 40</B>&nbsp;&nbsp;&nbsp;&nbsp; <B>Verbindlicher Originaltext</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 40</B>&nbsp;&nbsp;&nbsp;&nbsp; <B>Original Language</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Falls sich zwischen der deutsch- und der englischsprachigen
    Fassung dieser Statuten Differenzen ergeben, hat die deutschsprachige Fassung Vorrang.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the event of deviations between the German
    and English version of these Articles of Association, the German text shall prevail.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 41</B>&nbsp;&nbsp;&nbsp;&nbsp; <B>Definitionen</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Art. 41</B>&nbsp;&nbsp;&nbsp;&nbsp; <B>Definitions</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Aktie</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shares</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Aktie(n)</B> hat die in Art.
    3 dieser Statuten aufgef&uuml;hrte Bedeutung.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Share(s)</B> has the meaning assigned
    to it in Art. 3 of these Articles of Association.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Aktienbuch</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Share Register</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Aktienbuch</B> hat die in Art.
    8 dieser Statuten aufgef&uuml;hrte Bedeutung.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Share Register</B> has the meaning
    assigned to it in Art. 8 of these Articles of Association.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Aktienkapital</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Share Capital</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Aktienkapital </B>hat die in
    Art. 3 dieser Statuten aufgef&uuml;hrte Bedeutung.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Share Capital</B> has the meaning
    assigned to it in Art. 3 of these Articles of Association.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>B&ouml;rse</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exchange</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>B&ouml;rse</B> bedeutet Einrichtungen
    des Wertschriftenhandels oder vergleichbare Systeme, an welchen die Aktien der Gesellschaft gehandelt oder anderweitig zeitweise
    zum Handel zugelassen sind.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Exchange</B> shall mean any securities
    exchange or other system on which the registered Shares of the Company may be listed or otherwise authorized for trading from
    time to time.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CHF</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CHF</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>CHF</B> bedeutet Schweizer Franken
    und ist die g&uuml;ltige Schweizer W&auml;hrung.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>CHF </B>shall mean Swiss Francs,
    the legal currency in Switzerland.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 27; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Gesamtstimmen</B></FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total Voting Shares</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Gesamtstimmen</B> bedeutet die
    Gesamtzahl aller an einer Generalversammlung stimmberechtigen Aktien unabh&auml;ngig davon, ob die stimmberechtigten Aktien
    an der Generalversammlung vertreten sind oder nicht.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total Voting Shares</B> means the total number
    of Shares entitled to vote at a general meeting of the shareholders whether or not represented at such meeting.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Gesellschaft</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Company</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Gesellschaft </B>bedeutet Garmin
    Ltd.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Company</B> shall mean Garmin Ltd.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Marktwert</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Fair Market Value</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Marktwert</B> bedeutet (i) im
    Falle von Aktien den h&ouml;chsten Schlusskurs dieser Aktien w&auml;hrend der letzten 30 Tage vor dem massgeblichen Stichtag.
    Dabei entspricht der Marktwert dem h&ouml;chsten von der betreffenden B&ouml;rse gemeldeten Schlusskurs w&auml;hrend der letzten
    30 Tage vor dem massgeblichen Stichtag und, falls eine solche Meldung nicht vorliegt, soll der Marktwert dieser Aktien vom
    Verwaltungsrat in guten Treuen bestimmt werden, wobei er dabei die Art der Aktien, allf&auml;llige Dividenden, Zuteilung von
    Aktien sowie Aufteilungen oder Zusammenlegungen von Aktien ber&uuml;cksichtigt, und (ii) im Fall von Verm&ouml;genswerten,
    die weder Aktien noch Bargeld sind, soll der Marktwert vom Verwaltungsrat in guten Treuen per Stichtag bestimmt werden.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Fair Market Value</B> shall mean
    (i) in the case of shares, the highest closing sale price of a share during the 30-day period immediately preceding the date
    in question of such share admitted to trading on an Exchange or any other system then in use, the Fair Market Value shall
    be the highest closing sale price reported by the Exchange or such other system during the 30-day period preceding the date
    in question, or, if no such quotations are available, the Fair Market Value on the date in question of such share as determined
    by the Board of Directors in good faith, in each case with respect to any class of share, appropriately adjusted for any dividend
    or distribution in shares or any combination or reclassification of outstanding shares of such share into a smaller number
    of shares, and (ii) in the case of property other than cash or shares, the Fair Market Value of such property on the date
    in question as determined by the Board of Directors in good faith.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Monat</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Month</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Monat</B> bedeutet ein Kalendermonat.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Month</B> shall mean a calendar
    month.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Nahestehender Aktion&auml;r</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Interested Shareholder</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Nahestehender Aktion&auml;r</B>
    bedeutet jede nat&uuml;rliche oder juristische Person (unter Ausschluss der Gesellschaft) sowie deren Muttergesellschaften,
    (i) die direkte oder indirekte Eigent&uuml;merin von mehr als 20 % der Stimmrechte der ausgegebenen Aktien ist, oder die (ii)
    eine Nahestehende Gesellschaft der Gesellschaft ist und irgendwann in den zwei unmittelbar vorangehenden Jahren vor dem Zeitpunkt,
    zu dem bestimmt werden muss, ob diese Person ein Nahestehender Aktion&auml;r ist, direkte oder indirekte Eigent&uuml;merin
    von 20 % oder mehr der Stimmrechte der ausgegebenen Aktien war; oder (iii) Aktien &uuml;bertragen bekommen hat, die irgendwann
    in den zwei unmittelbar vorangehenden Jahren vor dem Zeitpunkt, zu dem bestimmt werden muss, ob eine Person ein Nahestehender
    Aktion&auml;r ist, direkt oder indirekt im Eigentum eines Nahestehenden Aktion&auml;rs standen, sofern die &Uuml;bertragung
    (unabh&auml;ngig davon ob in einer oder mehreren Transaktionen) ausserhalb eines &ouml;ffentlichen Angebots stattgefunden
    hat.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Interested Shareholder</B> shall
    mean any person (other than the Company) and any holding company thereof who or which (i) is the beneficial owner directly
    or indirectly, of more than twenty per cent (20%) of the voting power of the outstanding shares of the Company; or, (ii) is
    an Affiliate of the Company and at any time within the two-year period immediately prior to the date in question was the beneficial
    owner, directly or indirectly, of twenty per cent (20%) or more of the voting power of the then-outstanding shares; or (iii)
    is an assignee of or has otherwise succeeded to any shares which were at any time within the two-year period immediately prior
    to the date in question beneficially owned by any Interested Shareholder, if such assignment or succession shall have occurred
    in the course of a transaction or series of transactions not involving a public offering.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Eine nat&uuml;rliche oder juristische Person
    gilt dann nicht als Nahestehender Aktion&auml;r, falls eine solche Person nur darum ein Nahestehender Aktion&auml;r wird,
    weil die Anzahl der ausgegebenen Aktien der Gesellschaft reduziert werden, unabh&auml;ngig davon ob eine solche Reduktion
    auf den R&uuml;ckkauf von Aktien der Gesellschaft durch die Gesellschaft zur&uuml;ckzuf&uuml;hren ist. Die Reduktion der ausgegebenen
    Aktien erh&ouml;ht den prozentualen Anteil der ausgegebenen Aktien im direkten oder indirekten Eigentum der betreffenden Person
    bis diese Person direkte oder indirekte Eigent&uuml;merin zus&auml;tzlicher Aktien wird.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A person shall not be deemed an Interested Shareholder
    if such person would become an Interested Shareholder solely as a result of a reduction of the number of shares of the Company
    outstanding, including repurchases of outstanding shares of the Company by the Company, which reduction increases the percentage
    of outstanding shares of the Company of which such person is the beneficial owner, until such person shall thereafter become
    the beneficial owner of any additional shares.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 28; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Nahestehende Gesellschaft</B></FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Affiliate</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Nahestehende Gesellschaft </B>bedeutet
    bez&uuml;glich einer Person, jede andere Person, die direkt oder indirekt &uuml;ber eine oder mehrere Mittelspersonen die
    andere Person kontrolliert, von dieser anderen Person kontrolliert wird, oder unter gemeinsamer Kontrolle mit dieser anderen
    Person steht. &ldquo;Kontrolle&rdquo; einschliesslich der Begriffe &ldquo;kontrollierend&rdquo; und &ldquo;kontrolliert&rdquo;
    f&uuml;r die Zwecke dieser Definition und allgemein dieser Statuten bedeutet die M&ouml;glichkeit, direkt oder indirekt auf
    die Gesch&auml;ftsf&uuml;hrung und die Gesch&auml;ftspolitik einer Person Einfluss zu nehmen, sei es aufgrund des Haltens
    von Stimmrechten oder auf andere Weise.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Affiliate</B> shall mean with respect
    to any person, any other person controlling or controlled by or under common control with such specified person. For the purposes
    of this definition and generally these Articles of Association, &ldquo;control&rdquo;, &ldquo;controlling&rdquo; and &ldquo;controlled&rdquo;
    when used with respect to any specified person, means the power to direct the management and policies of such person, directly
    or indirectly, whether through the ownership of voting securities or otherwise.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Nahestehende Person</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Associate</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Nahestehende Person</B> bedeutet,
    wenn verwendet zur Bezeichnung einer Beziehung zu einer Zivilrechtlichen Person, (i) jede Kapitalgesellschaft, rechts-oder
    nicht-rechtsf&auml;hige Personengesellschaft oder ein anderer Rechtstr&auml;ger, von welcher diese Zivilrechtliche Person
    Mitglied des Leitungs- oder Verwaltungsorgans, der Gesch&auml;ftsleitung oder Gesellschafter ist oder von welcher diese Person,
    direkt oder indirekt, Eigent&uuml;merin von 20 % oder mehr einer Kategorie von Aktien oder anderen Anteilsrechten ist, die
    ein Stimmrecht vermitteln, (ii) jedes Treuhandverm&ouml;gen (Trust) oder jede andere Verm&ouml;genseinheit, an der diese Zivilrechtliche
    Person wirtschaftlich einen Anteil von 20 % oder mehr h&auml;lt oder in Bezug auf welche diese Zivilrechtliche Person als
    Verwalter (trustee) oder in &auml;hnlich treuh&auml;ndischer Funktion t&auml;tig ist, und (iii) jeder Verwandte, Ehe- oder
    Lebenspartner dieser Person, oder jede Verwandte des Ehe- oder Lebenspartners, jeweils soweit diese den gleichen Wohnsitz
    haben wie diese Person.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Associate</B>, when used to indicate
    a relationship with any Person, means (i) any corporation, partnership, unincorporated association or other entity of which
    such Person is a director, officer or partner or is, directly or indirectly, the Owner of 20% or more of any class of voting
    shares, (ii) any trust or other estate in which such Person has at least a 20% beneficial interest or as to which such Person
    serves as trustee or in a similar fiduciary capacity, and (iii) any relative or spouse of such Person, or any relative of
    such spouse, who has the same residence as such Person.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>OR</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CO</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>OR </B>hat die in Art. 1 dieser
    Statuten aufgef&uuml;hrte Bedeutung.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>CO</B> has the meaning assigned
    to it in Art. 1 of these Articles of Association.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Revisionsstelle</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Auditor</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Revisionsstelle</B> hat die in
    Abschnitt C dieser Statuten aufgef&uuml;hrte Bedeutung.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Auditor</B> has the meaning assigned
    to it in section C of these Articles of Association.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 29; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Sekret&auml;r</B></FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Secretary</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Sekret&auml;r </B>hat die in
    Art. 26 dieser Statuten aufgef&uuml;hrte Bedeutung.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Secretary</B> has the meaning assigned
    to it in Art. 26 of these Articles of Association.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Sitz</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Registered Office</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Sitz </B>hat die in Art. 1 dieser
    Statuten aufgef&uuml;hrte Bedeutung.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Registered Office</B> has the meaning
    assigned to it in Art. 1 of these Articles of Association.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Statuten</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Articles of Association</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Statuten</B> bedeutet die Statuten
    der Garmin Ltd. jeweils in ihrer aktuellsten Fassung.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Articles of Association</B> shall
    mean the Articles of Association of Garmin Ltd. in their most recent version.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Tochtergesellschaft</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Subsidiary</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Tochtergesellschaft </B>bedeutet
    s&auml;mtliche juristischen Personen oder Personenvereinigung, welche von einer anderen juristischen Person beherrscht werden.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Subsidiary </B>shall mean any corporation,
    company, association, foundation or other incorporated legal entity, that directly, or indirectly through one or more intermediaries
    is under control of the person specified.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Unabh&auml;ngige Verwaltungsr&auml;te</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Independent Directors</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>unabh&auml;ngige Verwaltungsr&auml;te
    </B>bedeutet Verwaltungsr&auml;te, welche im Sinne der anwendbaren Bestimmungen derjenigen B&ouml;rse, an welcher die Gesellschaft
    kotiert ist, unabh&auml;ngig sind.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Independent Directors</B> shall
    mean members of the board who are recognized as such by the rules and regulations of the Exchange.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Unparteiische Mitglieder des Verwaltungsrates</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Disinterested Directors</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Unparteiische Mitglieder des
    Verwaltungsrates </B>bedeutet diejenigen Mitglieder des Verwaltungsrates, welche keine Nahestehenden Personen von Nahestehenden
    Aktion&auml;ren sind und bereits Mitglieder des Verwaltungsrates waren, bevor ein Nahestehender Aktion&auml;r ein Nahestehender
    Aktion&auml;r wurde und jedes Verwaltungsratsmitglied, welches erst nachtr&auml;glich eine Vakanz im Verwaltungsrat schloss
    oder erst nachtr&auml;glich gew&auml;hlt wurde und in jedem Fall keine Nahestehende Person des Nahestehenden Aktion&auml;rs
    ist und auf Empfehlung einer Mehrheit der damaligen Unparteiischen Mitgliedern des Verwaltungsrates gew&auml;hlt wurde.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Disinterested Directors</B> shall
    mean any members of the Board of Directors who are unaffiliated with the Interested Shareholder and who were a member of the
    Board of Directors prior to the time that the Interested Shareholder became an Interested Shareholder, and any director who
    is thereafter chosen to fill any vacancy on the Board of Directors or who is elected and who, in either event, is unaffiliated
    with the Interested Shareholder, and in connection with his or her initial assumption of office is recommended for appointment
    or election by a majority of Disinterested Directors then on the Board of Directors.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Verwaltungsrat</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Board of Directors</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Verwaltungsrat</B> hat die in
    Abschnitt B dieser Statuten aufgef&uuml;hrte Bedeutung.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Board of Directors</B> has the meaning
    assigned to it in section B of these Articles of Association.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Vewaltungsratspr&auml;sident</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Chairman of the Board of Directors</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Verwaltungsratspr&auml;sident
    (Pr&auml;sident) </B>hat die in Art. 26 dieser Statuten aufgef&uuml;hrte Bedeutung.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Chairman of the Board of Directors
    (Chairman)</B> has the meaning assigned to it in Art. 26 of these Articles of Association.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 30; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Zivilrechtliche Person</B></FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Person</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Zivilrechtliche Person</B> bedeutet
    jede nat&uuml;rliche Person, Kapitalgesellschaft, rechts-oder nichtrechtsf&auml;hige Personengesellschaft oder jeder andere
    Rechtstr&auml;ger. F&uuml;r die Zwecke von Art.&nbsp;32 b) dieser Statuten sind Individuen nicht erfasst.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Person</B> shall mean any individual,
    corporation, partnership, unincorporated association or other entity. For purposes of Art.&nbsp;32 b) of these Articles of
    Association, it shall not include individuals.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Zusammenschluss</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Business Combination</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der Begriff <B>Zusammenschluss</B> bedeutet
    (i) jede Fusion oder andere Form des Zusammenschlusses der Gesellschaft oder einer ihrer Tochtergesellschaften mit (i) einem
    Nahestehenden Aktion&auml;r (gem&auml;ss Definition in diesem Artikel) oder mit (ii) einer anderen Gesellschaft oder Unternehmung
    (unabh&auml;ngig davon, ob diese selber ein Nahestehender Aktion&auml;r ist), falls diese eine Nahestehende Gesellschaft eines
    Nahestehenden Aktion&auml;rs ist oder durch die Fusion oder Zusammenf&uuml;hrung eine solche wird oder (ii) jeder Verkauf,
    Vermietung oder Verpachtung, Austausch, hypothekarische Belastung oder andere Verpf&auml;ndung, &Uuml;bertragung oder andere
    Verf&uuml;gung (ob in einer oder mehreren Transaktionen) an oder f&uuml;r einen Nahestehenden Aktion&auml;r oder eine Nahestehenden
    Gesellschaft eines solchen Nahestehenden Aktion&auml;rs bez&uuml;glich Verm&ouml;genswerten der Gesellschaft oder einer ihrer
    Tochtergesellschaften mit einem aggregierten Marktwert (gem&auml;ss Definition in diesem Artikel) der mindestens 25 % des
    Marktwertes der gesamten Aktiven unmittelbar vor der Transaktion entspricht, oder (iii) die Ausgabe oder &Uuml;bertragung
    von Anteilen der Gesellschaft oder einer ihrer Tochtergesellschaften (ob in einer oder mehreren Transaktionen) mit einem aggregierten
    Marktwert, der mindestens 25 % des Marktwertes der gesamten Aktiven unmittelbar vor der Transaktion entspricht, an einen Nahestehenden
    Aktion&auml;r oder eine Nahestehende Gesellschaft eines solchen Nahestehenden Aktion&auml;rs im Austausch gegen Bargeld, Effekten
    oder anderen Verm&ouml;genswerten (oder einer Kombination solcher Werte) mit Ausnahme der Ausgabe oder &Uuml;bertragung von
    Anteilen der Gesellschaft oder einer ihrer Tochtergesellschaften im Zusammenhang mit einem Mitarbeiterbeteiligungsprogramm
    der Gesellschaft oder einer ihrer Tochtergesellschaften, oder (iv) der Beschluss &uuml;ber die Liquidation oder Aufl&ouml;sung
    der Gesellschaft auf Antrag oder im Namen eines Nahestehenden Aktion&auml;rs oder einer einem Nahestehenden Aktion&auml;r
    Nahestehenden Gesellschaft, oder (v) jede &Auml;nderung in der Klassifizierung der Anteile der Gesellschaft (einschliesslich
    das Zusammenlegen von Aktien), Rekapitalisierung der Gesellschaft, Fusion oder andere Form des Zusammenschlusses der Gesellschaft
    mit einer ihrer Tochtergesellschaften oder jede andere Transaktion (unabh&auml;ngig davon, ob ein Nahestehender Aktion&auml;r
    involviert ist), die zu einer direkten oder indirekten Erh&ouml;hung des proportionalen Anteils der ausstehenden Anteile der
    Gesellschaft oder einer ihrer Tochtergesellschaften unabh&auml;ngig von der Art der ausstehenden Anteilen (Aktien, Wandelanleihen)
    f&uuml;hren und die direkt oder indirekt einem Nahestehenden Aktion&auml;r oder einer Nahestehenden Gesellschaft eines Nahestehenden
    Aktion&auml;rs geh&ouml;ren (<B>&bdquo;Unverh&auml;ltnism&auml;ssige Transaktion&ldquo;</B>), wobei eine solche Transkation
    dann nicht als Unverh&auml;ltnism&auml;ssige Transaktion gelten soll, wenn die Erh&ouml;hung des Anteils des Nahestehenden
    Aktion&auml;rs bzw. der Nahestehenden Gesellschaft des Nahestehenden Aktion&auml;rs als Folge dieser Transaktion nicht gr&ouml;sser
    ist als die Erh&ouml;hung der Anteile der &uuml;brigen Aktion&auml;re.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The term <B>Business Combination</B> shall mean
    (i) any merger or consolidation of the Company or any subsidiary with (i) any Interested Shareholder (as defined in this Article)
    or (ii) any other company or other entity (whether or not itself an Interested Shareholder) which is, or after such merger
    or consolidation would be, an Affiliate of an Interested Shareholder; or (ii) any sale, lease, exchange, mortgage, pledge,
    transfer or other disposition (in one transaction or a series of transactions) to or with any Interested Shareholder, or any
    Affiliate of any Interested Shareholder, of any assets of the Company or any subsidiary having an aggregate Fair Market Value
    (as defined in this Article) equaling or exceeding twenty-five percent (25%) of the Fair Market Value of the combined assets
    immediately prior to such transfer of the Company and its subsidiaries; or (iii) the issuance or transfer by the Company or
    any subsidiary (in one transaction or a series of transactions) to any Interested Shareholder or any Affiliate of any Interested
    Shareholder in exchange for cash, securities or other property (or a combination thereof), of any securities of the Company
    or any subsidiary having an aggregate Fair Market Value equaling or exceeding twenty-five percent (25%) of the Fair Market
    Value of the combined assets immediately prior to such transfer of the Company and its subsidiaries except pursuant to an
    employee benefit plan of the Company or any subsidiary thereof; or (iv) the adoption of any plan or proposal for the liquidation
    or dissolution of the Company proposed by or on behalf of any Interested Shareholder or any Affiliate of any Interested Shareholder;
    or (v) any reclassification of securities of the Company (including any reverse share split), recapitalization of the Company,
    merger or consolidation of the Company with any of its subsidiaries or other transaction (whether or not with or into or otherwise
    involving an Interested Shareholder), which has the effect, directly or indirectly, of increasing the proportionate share
    of the outstanding shares of any class of equity or convertible securities of the Company or any subsidiary which is directly
    or indirectly owned by any Interested Shareholder or any Affiliate of any Interested Shareholder (a <B>&ldquo;Disproportionate
    Transaction&rdquo;</B>); provided, however, that no such transaction shall be deemed a Disproportionate Transaction if the
    increase in the proportionate ownership of the Interested Shareholder or Affiliate as a result of such transaction is no greater
    than the increase experienced by the other stockholders generally.</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 31; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 80%"><P STYLE="margin: 0">Garmin Ltd., Schaffhausen: Statuten / Articles of Association</P></TD><TD STYLE="width: 20%; text-align: right"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Z&uuml;rich
8. Juni. 2018</FONT></P></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zurich,
June 8, 2018</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Der
ad hoc Vorsitzende:</FONT></P></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>The ad hoc chairperson:</I></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;/s/
    Andrew R. Etkind</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andrew R. Etkind</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 32; Options: Last -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>s110769_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif; width: 51%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investor
    Relations Contact:</FONT></TD>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Media
    Relations Contact:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Teri
    Seck</FONT></TD>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ted
    Gartner</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">913/397-8200</FONT></TD>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">913/397-8200</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>investor.relations@garmin.com</U></FONT></TD>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>media.relations@garmin.com</U></FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 14pt/normal Calibri,sans-serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Garmin<SUP>&reg;
</SUP>Shareholders Approve Quarterly Dividend through March 2019 and Garmin Announces Record Dates and Payment Dates for June
2018 Dividend Installment</B></FONT></P>

<P STYLE="font: 14pt/normal Calibri,sans-serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/115% Calibri,sans-serif; margin: 0pt 0; color: #222222"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Schaffhausen,
Switzerland / June 8, 2018/ Business Wire</FONT></P>

<P STYLE="font: 10pt/115% Calibri,sans-serif; margin: 0pt 0; color: #222222"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/13.5pt Calibri,sans-serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SCHAFFHAUSEN,
Switzerland--(<U>BUSINESS WIRE</U>)--At Garmin Ltd.&rsquo;s annual shareholders&rsquo; meeting held today, approval was received
from the shareholders in accordance with Swiss corporate law for a cash dividend in the amount of $2.12 per share (subject to
adjustment in the event that the Swiss Franc weakens more than 35% relative to the USD), payable in four equal installments. The
Board has determined that the June installment of the dividend will be paid as indicated below and currently anticipates the scheduling
of the remaining quarterly dividends as follows:</FONT></P>

<P STYLE="font: 10pt/13.5pt Calibri,sans-serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 60%; border-collapse: collapse; font-size: 12pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Dividend
    Date</U></B></FONT></TD>
    <TD STYLE="width: 20%; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Record
    Date</U></B></FONT></TD>
    <TD STYLE="width: 20%; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>$s
    per share</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June
    29, 2018</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June
    18, 2018</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.53</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">September
    28, 2018</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">September
    14, 2018</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.53</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">December
    31, 2018</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">December
    14, 2018</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.53</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March
    29, 2019</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March
    15, 2019</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0.53</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/13.5pt Calibri,sans-serif; margin: 0pt 0; text-align: center; color: #222222">&nbsp;</P>

<P STYLE="font: 10pt/13.5pt Calibri,sans-serif; margin: 0pt 0; text-align: center; color: #222222"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">#
# #</FONT></P>

<P STYLE="font: 10pt/13.5pt Calibri,sans-serif; margin: 0pt 0; text-align: center; color: #222222"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt Calibri,sans-serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>About
Garmin Ltd:</B> For decades, Garmin has pioneered new GPS navigation and wireless devices and applications that are designed for
people who live an active lifestyle. Garmin serves five primary business units, including automotive, aviation, fitness, marine,
and outdoor recreation. For more information, visit Garmin's virtual pressroom at <U>garmin.com/newsroom</U>, contact the Media
Relations department at 913-397-8200, or follow us at&nbsp;<U>facebook.com/garmin</U>, <U>twitter.com/garmin</U>, or&nbsp;<U>youtube.com/garmin</U>.</FONT></P>

<P STYLE="font: 8pt Calibri,sans-serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt Calibri,sans-serif; margin: 0pt 0; color: #222222"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Garmin
Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom.
Garmin is a registered trademark of Garmin Ltd.</FONT></P>

<P STYLE="font: 8pt Calibri,sans-serif; margin: 0pt 0; color: #222222"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt Calibri,sans-serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Notice
on Forward-Looking Statements:</B> This release includes projections and other forward-looking statements regarding Garmin Ltd.
and its business. Such statements are based on management&rsquo;s current expectations. The forward-looking events and circumstances
discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors
and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for
the year ended December 30, 2017, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983).
A copy of such Form 10-K is available at <U>http://www.garmin.com/aboutGarmin/invRelations/finReports.html</U>. No forward-looking
statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes
no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events,
or otherwise.</FONT></P>

<P STYLE="font: 8pt Calibri,sans-serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt Calibri,sans-serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 1; Options: Last -->
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
<!-- Field: /Page -->


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
