<SEC-DOCUMENT>0000950103-25-006381.txt : 20250523
<SEC-HEADER>0000950103-25-006381.hdr.sgml : 20250523
<ACCEPTANCE-DATETIME>20250523163644
ACCESSION NUMBER:		0000950103-25-006381
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20250523
FILED AS OF DATE:		20250523
DATE AS OF CHANGE:		20250523

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			On Holding AG
		CENTRAL INDEX KEY:			0001858985
		STANDARD INDUSTRIAL CLASSIFICATION:	RUBBER & PLASTICS FOOTWEAR [3021]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				000000000
		STATE OF INCORPORATION:			V8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40795
		FILM NUMBER:		25983000

	BUSINESS ADDRESS:	
		STREET 1:		FORRLIBUCKSTRASSE 190
		CITY:			8005 ZURICH
		STATE:			V8
		ZIP:			00000
		BUSINESS PHONE:		41 44 225 15 55

	MAIL ADDRESS:	
		STREET 1:		FORRLIBUCKSTRASSE 190
		CITY:			8005 ZURICH
		STATE:			V8
		ZIP:			00000
</SEC-HEADER>
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<TYPE>6-K
<SEQUENCE>1
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<DESCRIPTION>FORM 6-K
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.85pt; text-align: center; text-indent: -6.85pt"><B>REPORT OF FOREIGN
PRIVATE ISSUER PURSUANT TO RULE 13a-16 <BR>
OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.85pt; text-align: center; text-indent: -6.85pt">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of May 2025</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-40795</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 28pt"><B>ON HOLDING AG<BR>
</B></FONT><B><FONT STYLE="font-size: 10pt">(Exact name of registrant as specified in its charter)</FONT></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>F&ouml;rrlibuckstrasse 190<BR>
8005 Zurich, Switzerland<BR>
Tel: +41 44 225 1555<BR>
Fax: +41 44 225 1556<BR>
<FONT STYLE="font-size: 10pt">(Address of principal executive office)</FONT></B></P>

<P STYLE="font: 12pt 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">Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F:</P>

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

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    <TD STYLE="font-size: 12pt; text-align: center; width: 40%"><FONT STYLE="font-size: 10pt">Form 20-F</FONT></TD>
    <TD STYLE="width: 5%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 1pt solid">X&nbsp;</P></TD>
    <TD STYLE="font-size: 12pt; text-align: center; width: 40%"><FONT STYLE="font-size: 10pt">Form 40-F</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 12pt; width: 5%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
  </TABLE>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Annual General Meeting Results</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On May 22, 2025, On Holding AG (&ldquo;<B>On Holding</B>&rdquo;)
held its Annual General Meeting of Shareholders. The final results of the agenda items submitted to a vote of the shareholders are as
follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 1: Acknowledgement of the Annual Report and the Audit
Reports and Approval of the Management Report, the Annual Consolidated Financial Statements of On Holding AG and the Annual Financial
Statements of On Holding AG for 2024</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On Holding shareholders acknowledged the Annual
Report and the Audit Reports and approved the Management Report, the Annual Consolidated Financial Statements of On Holding AG and the
Annual Financial Statements of On Holding AG for 2024.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 2: Appropriation of 2024 Financial Results</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On Holding shareholders approved that the profit
for the year 2024 in the amount of KCHF 63,241.6 increases the &ldquo;profit carried forward&rdquo; from the financial year 2023 of KCHF
36,207.4, resulting in a new balance of &ldquo;profit carried forward&rdquo; of KCHF 99,449.0.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 3: Approval of the Report on Non-Financial Matters</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On Holding shareholders approved the Report on
Non-Financial Matters of On Holding AG for 2024.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 4: Discharge of the Members of the Board of Directors
and of the Executive Officers</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On Holding shareholders approved that the members
of the Board of Directors and of the Executive Officers be discharged from liability for the financial year 2024.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 5: Re-Election of Alex P&eacute;rez as Proposed Representative
of the Holders of Class A Shares on the Board of Directors</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On Holding shareholders approved the re-election
of Alex P&eacute;rez as representative of the holders of Class A shares on the Board of Directors for a term of office of one year (until
completion of the next Annual General Shareholders&rsquo; Meeting in 2026).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 6: Re-Elections of the Members of the Board of Directors</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On Holding shareholders approved the re-election
of David Allemann, Amy Banse, Olivier Bernhard, Caspar Coppetti, Dennis Durkin, Laura Miele and Alex P&eacute;rez as members of the Board
of Directors, each for a term of office of one year (until completion of the next Annual General Shareholders&rsquo; Meeting in 2026).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 7: Election of Helena Helmersson as new Member of the
Board of Director</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On Holding shareholders approved the election of
Helena Helmersson as a new member of the Board of Directors for a term of office of one year (until completion of the next Annual General
Shareholders&rsquo; Meeting in 2026). </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 8: Re-Elections of the Co-Chairmen of the Board of Directors</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 8.1: Re-Election of David Allemann as Co-Chairman of
the Board of Directors</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On Holding shareholders approved the re-election
of David Allemann as Co-Chairman of the Board of Directors for a term of office of one year (until completion of the next Annual General
Shareholders&rsquo; Meeting in 2026).</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 8.2: Re-Election of Caspar Coppetti as Co-Chairman of
the Board of Directors</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On Holding shareholders approved the re-election
of Caspar Coppetti as Co-Chairman of the Board of Directors for a term of office of one year (until completion of the next Annual General
Shareholders&rsquo; Meeting in 2026).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 9: Elections of the Members of the Nomination and Compensation
Committee</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On Holding shareholders approved the election of
Amy Banse, Helena Helmersson and Alex P&eacute;rez as members of the Nomination and Compensation Committee, each for a term of office
of one year (until completion of the next Annual General Shareholders&rsquo; Meeting in 2026).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 10: Re-Election of the Independent Proxy Representative</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On Holding shareholders approved the re-election
of Anwaltskanzlei Keller AG (CHE-194.206.696), Spl&uuml;genstrasse 8, 8002 Zurich, Switzerland, as Independent Proxy Representative for
a term of office of one year (until completion of the next Annual General Shareholders&rsquo; Meeting in 2026).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 11: Re-Election of Statutory Auditors</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On Holding shareholders approved the re-election
of PricewaterhouseCoopers AG (CHE-106.839.438), in Zurich, Switzerland, as statutory auditors of On Holding AG for a term of office of
one year (until completion of the next Annual General Shareholders&rsquo; Meeting in 2026).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 12: Compensation Report; Approval of the Compensation
of the Board of Directors and the Executive Officers</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 12.1: Consultative Vote on the 2024 Compensation Report</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On Holding shareholders took note of and endorsed
the 2024 Compensation Report in a consultative vote.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 12.2: Approval of the Maximum Aggregate Compensation
for the Non-Executive Members of the Board of Directors for the Period between the 2025 Annual General Shareholders&rsquo; Meeting and
the next Annual General Shareholders&rsquo; Meeting to be held in 2026</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On Holding shareholders approved the maximum aggregate
compensation of CHF 2,000,000 for the non-executive members of the Board of Directors for the period between the 2025 Annual General Shareholders&rsquo;
Meeting and the next Annual General Shareholders&rsquo; Meeting to be held in 2026.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 12.3: Approval of the Maximum Aggregate Compensation
for the Executive Officers for the Financial Year 2026</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On Holding shareholders approved the maximum aggregate
compensation of CHF 30,000,000 for the Executive Officers (including, where applicable, for their activities as executive members of the
Board of Directors) for the financial year 2026.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agenda Item 13: Conversion of Class B Shares to Class A Shares /
Amendment of Article 3, Article 3b and Article 3c of the Articles of Association</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On Holding shareholders approved the conversion of 10,520,820 Class B Shares into 1,052,082 Class A Shares, as well as the amendment of
Article 3, Article 3b and Article 3c of the Articles of Association to reflect the updated numbers of registered Class A Shares and registered
Class B Shares mentioned therein.</P>

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


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

<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-indent: 0.5in">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, thereunto duly authorized.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>ON HOLDING AG</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Martin Hoffmann</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="width: 41%"><FONT STYLE="font-size: 10pt">Martin Hoffmann</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Financial Officer and Co-Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Date: May 23, 2025</P>

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


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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="padding-top: 1pt; border-bottom: black 1pt solid; text-align: justify; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt"><B>Exhibit Number</B></FONT></TD>
    <TD STYLE="padding-top: 1pt; border-bottom: black 1pt solid; text-align: justify; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 1pt; text-align: justify; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; text-align: justify; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 1pt; text-align: justify; padding-bottom: 1pt"><A HREF="dp229166_ex9901.htm"><FONT STYLE="font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="padding-top: 1pt; text-align: justify; padding-bottom: 1pt"><A HREF="dp229166_ex9901.htm"><FONT STYLE="font-size: 10pt">Press Release dated May 22, 2025</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 1pt; text-align: justify; padding-bottom: 1pt"><A HREF="dp229166_ex9902.htm"><FONT STYLE="font-size: 10pt">99.2</FONT></A></TD>
    <TD STYLE="padding-top: 1pt; text-align: justify; padding-bottom: 1pt"><A HREF="dp229166_ex9902.htm"><FONT STYLE="font-size: 10pt">Articles of Association of On Holding AG</FONT></A></TD></TR>
  </TABLE>

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

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<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Exhibit 99.1</B></FONT></P>

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

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

<P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B><IMG SRC="image_001.jpg" ALT="" STYLE="height: 56px; width: 28px">&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>PRESS RELEASE</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Thursday, May 22, 2025</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Helena Helmersson Elected To On Board of Directors<BR>
<BR>
</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B><I>ZURICH, Switzerland, May 22, 2025</I></B> &mdash; Swiss performance
sportswear brand On (NYSE: ONON) announced today the election of Helena Helmersson as an additional independent member of the Board of
Directors as well as a member of the Nomination and Compensation Committee.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">David Allemann, Co-Founder and Executive Co-Chairman of On, said: &ldquo;We
are delighted to welcome Helena to On. Her exceptional track record in retail, operations, and purpose-driven leadership will be a powerful
asset as we continue our journey to be the premium global sportswear brand. We&rsquo;re convinced she will play a pivotal role in shaping
On&rsquo;s next chapter of global growth.&rdquo;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Helena Helmersson, newly elected Board member of On, said: &ldquo;I&rsquo;m
honored and excited to join On&rsquo;s Board of Directors. On&rsquo;s unique blend of innovation, performance, and impact creates something
truly special. I look forward to working with the Board and the management team to help shape the future of this inspiring company as
it grows to true scale.&rdquo;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Ms. Helmersson brings a wealth of experience from her long-standing
career in the fashion industry. She served as the Chief Executive Officer of H&amp;M Group from 2020 to 2024. She began her career at
H&amp;M in 1997 as a business controller in the company&rsquo;s buying office and advanced through key leadership roles. From 2010 to
2014, she served as the Head of Sustainability, leading the company&rsquo;s environmental and social initiatives. Ms. Helmersson then
held the position of Global Head of Production from 2015 to 2018, overseeing the company&rsquo;s sourcing and supply chain operations.
Prior to becoming CEO of H&amp;M, she served as its Chief Operating Officer from 2018 to 2020. Ms. Helmersson also serves as a board member
of the digital training company Quizrr and as a chairperson of Circulose, a textile-to-textile recycling company. Ms. Helmersson holds
a Master of Science degree in International Business from Ume&aring; University, Sweden.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">On extends its sincere gratitude to Kenneth Fox for his seven years
of dedicated and meaningful contributions to the Board of Directors, as his term concludes at the 2025 Annual General Shareholders&rsquo;
Meeting. His expertise and strategic guidance have been pivotal in shaping On&rsquo;s growth, including his involvement in the company&rsquo;s
IPO in 2021. The Board extends its best wishes to Mr. Fox for continued success in his future endeavors.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>About On</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="color: #0263C2"><U>On</U></FONT> was born in the Swiss
Alps in 2010 with the mission to ignite the human spirit through movement &ndash; a mission that still guides the brand today. Fifteen
years after market launch, On delivers industry-disrupting innovation in premium footwear, apparel and accessories for high-performance
running, outdoor, training, all-day activities and tennis. On&rsquo;s award-winning CloudTec<SUP>&reg;</SUP> and LightSpray&trade; innovation,
purposeful design and groundbreaking strides within the circular economy have attracted a fast-growing global fan base &ndash; inspiring
humans to explore, discover and Dream On.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">On is present in more than 80 countries globally and engages with a
digital community on <FONT STYLE="color: #0263C2"><U>www.on.com</U></FONT>.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Investor Contact:<BR>
</B>On Holding AG<BR>
Liv Radlinger<BR>
<FONT STYLE="color: blue"><U>investorrelations@on.com</U></FONT><BR>
<I>or<BR>
</I>ICR, Inc.<BR>
Brendon Frey<BR>
<FONT STYLE="color: #0563C1"><U>brendon.frey@icrinc.com</U></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Media Contact:<BR>
</B>On Holding AG<BR>
Adib Sisani<BR>
<FONT STYLE="color: #0563C1"><U>press@on.com</U></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Source: On</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Category: Corporate</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


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<FILENAME>dp229166_ex9902.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Exhibit 99.2</B></FONT></P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>STATUTEN</B></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>ARTICLES
    OF ASSOCIATION</B></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">der</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">of</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>On Holding AG</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>On Holding AG</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>mit Sitz in Z&uuml;rich</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>with registered office in Zurich</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -27pt"><FONT STYLE="font-variant: small-caps"><B>I.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GRUNDLAGE</B></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -27pt">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-variant: small-caps"><B>I.&#9;INTRODUCTION</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>1 &ndash; Firma und Sitz</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>1 &ndash; Company Name and
    Registered Office</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Unter der Firma</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Under the company name of</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>On Holding AG</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>On Holding AG</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(On Holding SA)</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(On Holding SA)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>(On Holding Ltd)</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(On Holding Ltd)</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">besteht mit Sitz in Z&uuml;rich auf unbestimmte
    Dauer eine Aktiengesellschaft gem&auml;ss Art.&nbsp;620&nbsp;ff. des schweizerischen Obligationenrechts (OR) (die &quot;<B>Gesellschaft</B>&quot;).</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">a stock corporation according to art. 620 et seqq.
    of the Swiss Code of Obligations (CO) with registered office in Zurich exists for an unlimited period of time (the &quot;<B>Company</B>&quot;).</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>2 &ndash; Zweck</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>2 &ndash; Purpose</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Gesellschaft bezweckt den Erwerb, das Halten,
    die Verwaltung und die Ver&auml;usserung von Beteiligungen an Gesellschaften aller Art in der Schweiz und im Ausland.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The purpose of the Company is the acquisition,
    holding, management and sale of participations in companies of all kinds in Switzerland and abroad.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Gesellschaft kann ausserdem alle Gesch&auml;fte
    abschliessen und Vereinbarungen eingehen, die dem Gesellschaftszweck dienen oder in direktem Zusammenhang damit stehen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Company may also carry out any and all transactions
    and enter into any and all agreements which directly or indirectly serve its corporate purpose or are directly related thereto.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Die Gesellschaft kann ihren direkten oder indirekten Muttergesellschaften sowie deren oder ihren direkten oder indirekten Tochtergesellschaften Darlehen oder andere Finanzierungen gew&auml;hren und f&uuml;r Verbindlichkeiten von solchen anderen Gesellschaften Sicherheiten aller Art stellen,</FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The Company may grant loans or provide other kind of financing to its direct or indirect parent company and its or the parent company's direct or indirect subsidiaries and may grant security of all kind for obligations of those companies, including by means of pledges over or fiduciary transfers of assets of the</FONT></TD></TR>
  </TABLE>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">einschliesslich mittels Pfandrechten an oder fiduziarischen
    &Uuml;bereignungen von Aktiven der Gesellschaft oder Garantien jedwelcher Art, ob gegen Entgelt oder nicht.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Company or by means of guarantees of any kind,
    with or without compensation.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Gesellschaft kann Zweigniederlassungen und
    Tochtergesellschaften in der Schweiz und im Ausland errichten und Grundst&uuml;cke erwerben, halten, verwalten und ver&auml;ussern.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Company may set up branch offices and subsidiaries
    in Switzerland and abroad and acquire, manage, hold and sell real estate.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Gesellschaft kann Patente, Lizenzen, Marken
    und technische und industrielle Kenntnisse erwerben, verwalten, &uuml;bertragen, ver&auml;ussern und lizenzieren.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The Company may acquire, manage, transfer, sell and license patents, licenses, trademarks and technical and industrial knowledge.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -27pt"><FONT STYLE="font-variant: small-caps"><B>II.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KAPITAL</B></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -27pt">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-variant: small-caps"><B>II.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SHARE
    CAPITAL</B></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>3 &ndash; Aktienkapital
    und Aktien</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>3 &ndash; Share Capital
    and Shares</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Das Aktienkapital betr&auml;gt CHF&nbsp;33'699'941.40
    und ist eingeteilt in 303'507'746 Namenaktien mit einem Nennwert von je CHF&nbsp;0.10 (die &quot;<B>Klasse A Aktien</B>&quot;) und in
    334'916'680 Namenaktien mit einem Nennwert von je CHF&nbsp;0.01 (Stimmrechtsaktien) (die &quot;<B>Klasse</B>&nbsp;<B>B Aktien</B>&quot;).</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The share capital amounts to CHF&nbsp;33,699,941.40
    and is divided into 303,507,746 registered shares with a nominal value of CHF&nbsp;0.10 each (the &quot;<B>Class A Shares</B>&quot;) and
    in 334,916,680 registered shares with a nominal value of CHF&nbsp;0.01 each (voting right shares) (the &quot;<B>Class B Shares</B>&quot;).</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Das Aktienkapital ist zu 100&nbsp;% liberiert.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The share capital is paid in at 100&nbsp;%.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>3a &ndash; Bedingtes Aktienkapital</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>3a &ndash; Conditional Share
    Capital</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Das Aktienkapital der Gesellschaft wird im Maximalbetrag
    von CHF&nbsp;1'004'246.10 erh&ouml;ht durch Ausgabe von h&ouml;chstens 10'042'461 vollst&auml;ndig zu liberierenden Namenaktien mit einem
    Nennwert von je CHF&nbsp;0.10 (Klasse A Aktien), durch Aus&uuml;bung von Rechten, die den Verwaltungsr&auml;ten und externen Beratern,
    Dienstleistern und Vertriebspartnern der Gesellschaft oder der Konzerngesellschaften gew&auml;hrt werden.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The share capital of the Company may be increased
    by the maximum amount of CHF&nbsp;1,004,246.10 by issuing up to 10,042,461 fully paid-up registered shares with a nominal value of CHF&nbsp;0.10
    each (Class A Shares), upon exercise of rights that are given to members of the board of directors or independent consultants, service
    partners or sales agents of the Company or of affiliated companies.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Das Bezugsrecht der Aktion&auml;re ist ausgeschlossen.
    Der Erwerb der Klasse A Aktien durch die Aus&uuml;bung von Rechten und die weitere &Uuml;bertragung der Klasse A Aktien unterliegen den
    &Uuml;bertragungs-beschr&auml;nkungen gem&auml;ss Art.&nbsp;5 der Statuten.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The shareholders' statutory subscription rights
    are excluded. The acquisition of Class A Shares through the exercise of rights and the further transfer of the Class A Shares are subject
    to the transfer restrictions pursuant to Art. 5 of the articles of association.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>3b &ndash; Kapitalband f&uuml;r
    Klasse A Aktien</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>3b &ndash; Capital Band
    for Class A Shares</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Gesellschaft verf&uuml;gt &uuml;ber ein Kapitalband
    f&uuml;r Klasse A Aktien zwischen CHF&nbsp;27'850'774.60 (untere Grenze) und CHF&nbsp;32'850'774.60 (obere Grenze). Der Verwaltungsrat
    ist im Rahmen des Kapitalbands f&uuml;r Klasse A Aktien erm&auml;chtigt, bis zum 25. Mai 2028 oder bis zu einem fr&uuml;heren Dahinfallen
    des Kapitalbands f&uuml;r Klasse A Aktien das Aktienkapital einmal oder mehrmals und in beliebigen Betr&auml;gen zu erh&ouml;hen oder
    herabzusetzen. Die Kapitalerh&ouml;hung oder -herabsetzung kann durch Ausgabe von bis zu 25'000'000 voll zu liberierenden Namenaktien
    mit einem Nennwert von je CHF 0.10 (Klasse A Aktien) bzw. Vernichtung von bis zu 25'000'000 Namenaktien mit einem Nennwert von je CHF
    0.10 (Klasse A Aktien) oder durch eine Erh&ouml;hung bzw. Herabsetzung der Nennwerte der bestehenden Namenaktien im Rahmen des Kapitalbands
    oder durch gleichzeitige Herabsetzung und Wiedererh&ouml;hung erfolgen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Company has a capital band for Class A Shares
    between CHF&nbsp;27,850,774.60 (lower limit) and CHF&nbsp;32,850,774.60 (upper limit). Within the capital band for Class A Shares, the
    board of directors is authorized to increase or reduce the share capital once or several times and in any amounts until May 25, 2028 or
    until an earlier expiry of the capital band for Class A Shares. The capital increase or reduction may be effected by issuing up to 25,000,000
    fully paid registered shares with a par value of CHF&nbsp;0.10 each (Class A Shares) or by cancelling up to 25,000,000 registered shares
    with a par value of CHF&nbsp;0.10 each (Class A Shares) or by increasing or reducing the par value of the existing registered shares within
    the capital band or by a combined capital reduction and capital increase.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Im Falle einer Kapitalerh&ouml;hung legt der Verwaltungsrat
    die Anzahl Aktien, 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 anderen Dritten und anschliessendem Angebot an die bisherigen Aktion&auml;re ausgeben. Der Verwaltungsrat ist erm&auml;chtigt, den
    Handel mit Bezugsrechten zu beschr&auml;nken oder auszuschliessen. Nicht ausge&uuml;bte Bezugsrechte kann der Verwaltungsrat verfallen
    lassen oder diese bzw. die 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.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">In the event of a capital increase, the board of
    directors shall determine the number of shares, the issue price, the type of contributions, the time of issue, the conditions for exercising
    subscription rights and the start of dividend entitlement. The board of directors may issue new shares by means of a firm underwriting
    by a bank or another third party and a subsequent offer to the existing shareholders. The board of directors is authorized to restrict
    or exclude trading in subscription rights. The board of directors may allow subscription rights which have not been exercised to lapse
    or place them or the shares for which subscription rights have been granted but not exercised at market conditions or use them otherwise
    in the interest of the Company.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Verwaltungsrat ist erm&auml;chtigt, die Bezugsrechte
    der Aktion&auml;re in Bezug auf die unter diesem Art. 3b auszugebenden Aktien zu entziehen oder zu beschr&auml;nken und einzelnen Aktion&auml;ren,
    Dritten, der Gesellschaft oder Konzerngesellschaften zuzuweisen:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors is authorized to withdraw
    or restrict subscription rights of existing shareholders with regard to shares to be issued according to this Art. 3b and to allocate
    such rights to single shareholders, third parties, the Company or any of its group companies:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(a)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.5in; text-align: justify">wenn der Ausgabebetrag der neuen Aktien unter Ber&uuml;cksichtigung des Marktpreises festgesetzt wird; oder</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(a)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.5in; text-align: justify">if
    the issue price of the new shares is determined by reference to the market price; or</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD></TR>
  </TABLE>

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

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

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


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

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



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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(b)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.5in; text-align: justify">f&uuml;r
    die &Uuml;bernahme von Unternehmen, Unternehmensteilen oder Beteiligungen oder f&uuml;r die Finanzierung oder Refinanzierung solcher Transaktionen
    oder die Finanzierung von neuen Investitionsvorhaben der Gesellschaft oder ihrer Konzerngesellschaften, einschliesslich dem Erwerb von
    Produkten, Immaterialg&uuml;terrechten, oder Lizenzen; oder</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(b)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.5in; text-align: justify">for
    the acquisition of companies, part(s) of companies or participations, or for the financing or refinancing of any of such transactions
    or the financing of new investment projects of the Company or any of its group companies, including the acquisition of products, intellectual
    properties or licenses; or</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(c)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.5in; text-align: justify">zum
    Zwecke der Erweiterung des Aktion&auml;rskreises in bestimmten geographischen, Finanz- oder Investoren-M&auml;rkten, zur Beteiligung von
    strategischen Partnern, oder im Zusammenhang mit der Kotierung von neuen Aktien an inl&auml;ndischen oder ausl&auml;ndischen B&ouml;rsen;
    oder</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(c)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.5in; text-align: justify">for
    purposes of broadening the shareholder constituency of the Company in certain geographic, financial or investor markets, for purposes
    of the participation of strategic partners, or in connection with the listing of new shares on domestic or foreign stock exchanges; or</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(d)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.5in; text-align: justify">f&uuml;r
    die Einr&auml;umung einer Mehrzuteilungsoption (<I>Greenshoe</I>) oder einer Option zur Zeichnung von zus&auml;tzlichen Aktien an die
    betreffenden Erstk&auml;ufer oder Fest&uuml;bernehmer im Rahmen einer Aktienplatzierung oder eines Aktienverkaufs; oder</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(d)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.5in; text-align: justify">for
    purposes of granting an over-allotment option (Greenshoe) or an option to subscribe for additional shares in a placement or sale of shares
    to the respective initial purchaser(s) or underwriter(s); or</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(e)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.5in; text-align: justify">f&uuml;r
    die Beteiligung von Mitgliedern des Verwaltungsrates, Mitgliedern der Gesch&auml;ftsleitung, Mitarbeitern, Beauftragten, Beratern oder
    anderen Personen, die f&uuml;r die Gesellschaft oder eine ihrer Konzerngesellschaften Leistungen erbringen; oder</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(e)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.5in; text-align: justify">for
    the participation of members of the board of directors, members of the executive committee, employees, contractors, consultants, or other
    persons performing services for the benefit of the Company or any of its group companies; or</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(f)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.5in; text-align: justify">f&uuml;r
    eine rasche und flexible Kapitalbeschaffung, welche ohne den Ausschluss der Bezugsrechte der bisherigen Aktion&auml;re nicht, oder nur
    mit grossen Umst&auml;nden oder Versp&auml;tung oder zu wesentlich schlechteren Bedingungen m&ouml;glich w&auml;re.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(f)</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.5in; text-align: justify">for
    raising capital in a fast and flexible manner, which would not be possible, or might only be possible with great difficulty or delays
    or at significantly less favorable conditions, without the exclusion of the pre-emptive rights of existing shareholders.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Zeichnung und der Erwerb der Klasse A Aktien
    und die weitere &Uuml;bertragung der Klasse A Aktien unterliegen den &Uuml;bertragungs-beschr&auml;nkungen gem&auml;ss Art.&nbsp;5 der
    Statuten.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Erh&ouml;ht sich das Aktienkapital aufgrund einer
    bedingten Kapitalerh&ouml;hung aus dem bedingten Kapital f&uuml;r Klasse A Aktien, so erh&ouml;hen sich die obere und die untere Grenze
    des Kapitalbands f&uuml;r Klasse&nbsp;A Aktien entsprechend dem Umfang der</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The subscription and acquisition of Class A Shares
    and the further transfer of the Class&nbsp;A Shares are subject to the transfer restrictions pursuant to Art. 5 of the articles of association.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">If the share capital is increased out of the conditional
    capital for Class A Shares, the upper and lower limits of the capital band for Class A Shares shall increase in an extent corresponding
    to</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><IMG SRC="image_002.jpg" ALT="">&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt">&nbsp;</P></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Erh&ouml;hung des aus Klasse A Aktien bestehenden
    Aktienkapitals.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Bei einer Herabsetzung des Aktienkapitals im Rahmen
    des Kapitalbands f&uuml;r Klasse A Aktien legt der Verwaltungsrat, soweit erforderlich, die Verwendung des Herabsetzungsbetrages fest.
    Der Verwaltungsrat kann den Herabsetzungsbetrag auch zur teilweisen oder vollst&auml;ndigen Beseitigung einer Unterbilanz im Sinne von
    Art.&nbsp;653p OR verwenden oder das Aktienkapital im Sinne von Art.&nbsp;653q OR gleichzeitig herabsetzen und mindestens auf den bisherigen
    Betrag erh&ouml;hen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">the increase of the share capital consisting of
    Class A Shares.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">In the event of a reduction of the share capital
    within the capital band for Class A Shares, the board of directors shall, if necessary, determine the use of the reduction amount. The
    board of directors may also use the reduction amount for the partial or complete elimination of a negative net worth within the meaning
    of art.&nbsp;653p CO or reduce the share capital within the meaning of art.&nbsp;653q CO and increase it simultaneously at least to the
    previous amount.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Artikel</B>&nbsp;<B>3c &ndash; Kapitalband f&uuml;r Klasse B Aktien</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>3c &ndash; Capital Band
    for Class B Shares</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Gesellschaft verf&uuml;gt &uuml;ber ein Kapitalband
    f&uuml;r Klasse B Aktien zwischen CHF&nbsp;3'349'166.80 (untere Grenze) und CHF&nbsp;3'507'291.80 (obere Grenze). Der Verwaltungsrat ist
    im Rahmen des Kapitalbands f&uuml;r Klasse B Aktien erm&auml;chtigt, bis zum 25. Mai 2028 oder bis zu einem fr&uuml;heren Dahinfallen
    des Kapitalbands f&uuml;r Klasse B Aktien das Aktienkapital einmal oder mehrmals und in beliebigen Betr&auml;gen zu erh&ouml;hen. Die
    Kapitalerh&ouml;hung kann durch Ausgabe von bis zu 15'812'500 voll zu liberierenden Namenaktien mit einem Nennwert von je CHF&nbsp;0.01
    (Stimmrechtsaktien) (Klasse B Aktien) oder durch eine Erh&ouml;hung der Nennwerte der bestehenden Namenaktien im Rahmen des Kapitalbands
    erfolgen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The Company has a capital band for Class B Shares between CHF&nbsp;3,349,166.80 (lower limit) and CHF&nbsp;3,507,291.80 (upper limit). Within the capital band for Class B Shares, the board of directors is authorized to increase the share capital once or several times and in any amounts until May 25, 2028 or until an earlier expiry of the capital band for Class B Shares. The capital increase may be effected by issuing up to 15,812,500 fully paid registered shares with a par value of CHF&nbsp;0.01 each (voting right shares) (Class B Shares) or by increasing the par value of the existing registered shares within the capital band.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Verwaltungsrat legt die Anzahl Aktien, den
    Ausgabebetrag, die Art der Einlagen, den Zeitpunkt der Ausgabe, und den Beginn der Dividendenberechtigung fest. Dabei kann der Verwaltungsrat
    neue Aktien mittels Fest&uuml;bernahme durch eine Bank oder einen anderen Dritten und anschliessenden Angebots an die bisherigen Aktion&auml;re
    ausgeben.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors shall determine the number
    of shares, the issue price, the type of contributions, the time of issue, the conditions for exercising subscription rights and the start
    of dividend entitlement. The board of directors may issue new shares by means of a firm underwriting by a bank or another third party
    and a subsequent offer to the existing shareholders.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Der Verwaltungsrat ist erm&auml;chtigt, die Bezugsrechte der Aktion&auml;re in Bezug auf die unter diesem Art. 3c auszugebenden Aktien zu entziehen oder zu beschr&auml;nken und einzelnen Aktion&auml;ren, Dritten, der Gesellschaft oder Konzerngesellschaften zuzuweisen f&uuml;r die Beteiligung von Mitgliedern des Verwaltungsrates und Mitgliedern der Gesch&auml;ftsleitung der Gesellschaft oder einer ihrer Konzerngesellschaften.</FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors is authorized to withdraw
    or restrict subscription rights of existing shareholders with regard to shares to be issued according to this Art. 3c and to allocate
    such rights to single shareholders, third parties, the Company or any of its group companies for the participation of members of the board
    of directors or members of the executive committee of the Company or any of its group companies.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD></TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><IMG SRC="image_002.jpg" ALT="">&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt">&nbsp;</P></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Zeichnung und der Erwerb der Klasse B Aktien
    und die weitere &Uuml;bertragung der Klasse B Aktien unterliegen den &Uuml;bertragungsbeschr&auml;nkungen gem&auml;ss Art.&nbsp;6 der
    Statuten.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Erh&ouml;ht sich das Aktienkapital aufgrund einer
    bedingten Kapitalerh&ouml;hung aus bedingtem Kapital f&uuml;r Klasse B Aktien, so erh&ouml;ht sich die Obergrenze des Kapitalbands f&uuml;r
    Klasse&nbsp;B Aktien entsprechend dem Umfang der Erh&ouml;hung des aus Klasse B Aktien bestehenden Aktienkapitals.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The subscription and acquisition of Class B Shares
    and the further transfer of the Class&nbsp;B Shares are subject to the transfer restrictions pursuant to Art. 6 of the articles of association.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">If the share capital is increased out of any conditional
    capital for Class B Shares, the upper limit of the capital band for Class B Shares shall increase in an extent corresponding to the increase
    of the share capital consisting of Class B Shares.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>4 &ndash; Form der Aktien</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>4 &ndash; Form of the Shares</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Gesellschaft kann ihre Namenaktien als Einzelurkunden,
    Globalurkunden, einfache Wertrechte im Sinne des OR (in der jeweils geltenden Fassung), oder als Bucheffekten ausgestalten.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Company may issue its registered shares in
    the form of single certificates, global certificates, simple uncertificated securities within the meaning of the CO (as amended from time
    to time), or intermediated securities.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Bucheffekten und Sicherheiten an Bucheffekten k&ouml;nnen
    nicht mittels Abtretung &uuml;bertragen oder begr&uuml;ndet werden. Werden nicht verurkundete Aktien durch Abtretung &uuml;bertragen,
    bedarf diese zur G&uuml;ltigkeit der Anzeige an die Gesellschaft.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Intermediated securities and security interest
    in any such intermediated securities, cannot be transferred or granted by way of assignment. If uncertificated securities are transferred
    by way of assignment, such assignment must be notified to the Company to be valid.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Nachdem er im Aktienbuch eingetragen worden ist,
    kann der Aktion&auml;r von der Gesellschaft jederzeit die Ausstellung einer Bescheinigung &uuml;ber die in seinem Eigentum stehenden Aktien
    verlangen. Der Aktion&auml;r hat jedoch keinen Anspruch auf Druck und Auslieferung von Aktienurkunden oder Aktienzertifikate oder auf
    die Umwandlung der Namenaktien von einer Form in eine andere. Die Gesellschaft kann demgegen&uuml;ber jederzeit Urkunden f&uuml;r Namenaktien
    (Einzelurkunden oder Zertifikate &uuml;ber eine Mehrzahl von Aktien) ausstellen und ausliefern und mit der Zustimmung des Aktion&auml;rs
    ausgegebene Urkunden, die bei ihr eingeliefert werden, ersatzlos annullieren.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Upon its registration with the share register,
    a shareholder may at any time request from the Company to issue a written confirmation of the registered shares held by such shareholder.
    However, the shareholder has no right to request the issue and delivery of share certificates nor the conversion of the registered shares
    issued in one form into another form. The Company may, however, at any time issue and deliver certificates for registered (single certificates
    or global certificates) and, with the consent of the shareholder, delete without replacement issued share certificates, which have been
    returned to it.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Vorbeh&auml;ltlich des anwendbaren Rechts, kann
    die Gesellschaft jederzeit ohne Zustimmung der Aktion&auml;re ihre Namenaktien von einer Form in eine andere Form umwandeln. Die Gesellschaft
    tr&auml;gt alle mit einer solchen Umwandlung verbundenen Kosten.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Subject to applicable law, the Company may convert
    its registered shares from one form into another form at any time and without the approval of the shareholders. The Company shall bear
    the cost associated with any such conversion.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>5 &ndash; Aktienbuch und
    Beschr&auml;nkung der Eintragung, Nominees</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>5 &ndash; Share Register
    and Restrictions on Registration, Nominees</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD></TD></TR>
  </TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Gesellschaft f&uuml;hrt ein Aktienbuch, in
    welches die Eigent&uuml;mer, Nutzniesser und Nominees der Namenaktien mit Namen, Adresse und Staatsangeh&ouml;rigkeit (bei juristischen
    Personen der Sitz) eingetragen werden.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Company shall maintain a share register that
    lists the shareholders, usufructuaries and nominees of the registered shares with name, address and citizenship (registered office in
    case of a legal entity).</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Im Verh&auml;ltnis zur Gesellschaft wird als Aktion&auml;r,
    Nutzniesser oder Nominee nur anerkannt, wer im Aktienbuch eingetragen ist. Die Gesellschaft anerkennt nur einen Vertreter pro Namenaktie.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">In relation to the Company, only those shareholders,
    usufructuaries or nominees registered in the share register shall be recognized as shareholders, usufructuaries or nominees. The Company
    recognizes only one representative per registered share.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Erwerber von Aktien werden auf Gesuch hin gegen
    Nachweis des Erwerbes oder der Begr&uuml;ndung einer Nutzniessung als Aktion&auml;r mit Stimmrecht im Aktienbuch eingetragen, falls sie
    ausdr&uuml;cklich erkl&auml;ren, dass sie die Aktien in eigenem Namen und f&uuml;r eigene Rechnung halten, dass keine Vereinbarung &uuml;ber
    die R&uuml;cknahme oder die R&uuml;ckgabe entsprechender Aktien besteht und dass sie das mit den Aktien verbundene wirtschaftliche Risiko
    tragen. Das Gesuch um Eintragung im Aktienbuch kann auf elektronischem Weg gestellt werden.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Acquirers of shares shall be registered in the share register as shareholders with voting rights upon their request if they expressly declare to have ac-quired these shares in their own name and for their own account, that there is no agreement on the redemption or the return of corresponding shares and that they bear the economic risk associated with the shares. The application for entry in the share register can be submitted electronically.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Personen, die im Eintragungsgesuch nicht ausdr&uuml;cklich
    erkl&auml;ren, die Aktien f&uuml;r eigene Rechnung zu halten (<I>Nominees</I>) werden ohne Weiteres bis maximal 3&nbsp;% des im Handelsregister
    eingetragenen Aktienkapitals als Aktion&auml;r mit Stimmrecht im Aktienbuch eingetragen. &Uuml;ber diese Eintragungsgrenze hinaus werden
    Nominees als Aktion&auml;re mit Stimmrecht im Aktienbuch eingetragen, wenn der betroffene Nominee die Namen, Adressen, Nationalit&auml;ten
    und Aktienbest&auml;nde derjenigen wirtschaftlichen Berechtigten bekannt gibt, f&uuml;r deren Rechnung er 0.5&nbsp;% oder mehr des ausstehenden
    Aktienkapitals h&auml;lt.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Persons, who do not expressly declare in the registration
    application, to hold the shares on their own account (Nominees) shall be registered as shareholders with voting rights in the share register
    up to a maximum of 3&nbsp;% of the share capital set forth in the commercial register. For any shares in excess this registration threshold,
    Nominees shall be registered as shareholders with voting rights in the share register, if the concerned Nominee declares the names, addresses,
    nationalities and shareholdings of such beneficial owners for whose account it holds 0.5&nbsp;% or more of the share capital set forth
    in the commercial register.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Verwaltungsrat ist erm&auml;chtigt, mit Nominees
    Vereinbarungen &uuml;ber deren Meldepflichten abzuschliessen und im Einzelfall Ausnahmen von der Regelung im vorstehenden Abs. 4 dieses
    Artikels zu gew&auml;hren.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors is authorized to enter into
    agreement with the Nominees regarding their notifications obligations and to grant exceptions from the provision of paragraph&nbsp;4 of
    this article in singular cases.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Verwaltungsrat kann Eintragungen im Aktienbuch
    mit R&uuml;ckwirkung auf das Datum der Eintragung streichen, wenn diese durch falsche oder irref&uuml;hrende Angaben zustande gekommen
    sind. Er kann den betroffenen Aktion&auml;r oder Nominee vorg&auml;ngig anh&ouml;ren. Der betroffene</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors may cancel registrations
    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 board of directors may hear the concerned shareholder or Nominee. The relevant</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><IMG SRC="image_002.jpg" ALT="">&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt">&nbsp;</P></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Aktion&auml;r oder Nominee ist &uuml;ber die Streichung
    umgehend zu informieren.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">shareholder or Nominee shall be promptly informed
    of the cancellation.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Verwaltungsrat trifft die zur F&uuml;hrung
    des Aktienbuches notwendigen Anordnungen und kann entsprechende Reglemente oder Richtlinien erlassen. Er kann seine Aufgaben delegieren.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors shall regulate all issue
    the instructions necessary for the maintenance of the share register and may issue corresponding regulations or guidelines. The board
    of directors may delegate its duties.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Verwaltungsrat gibt in der Einladung zur Generalversammlung
    das f&uuml;r die Teilnahme- und Stimmberechtigung massgebende Stichdatum der Eintragung im Aktienbuch bekannt.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors states in the invitation
    to the general meeting the cut-off date of the registration with the share register relevant for the participation and voting rights.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>6 &ndash; &Uuml;bertragung
    der Aktien</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>6 &ndash; Transfer of Shares</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die &Uuml;bertragung der Namenaktien mit einem
    Nennwert von je CHF&nbsp;0.01 (Stimmrechtsaktien) (Klasse B Aktien) oder die Begr&uuml;ndung einer Nutzniessung daran bedarf der Genehmigung
    durch den Verwaltungsrat.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The transfer of ownership in, or the establishment
    of a usufruct in, registered shares with a nominal value of CHF&nbsp;0.01 (voting right shares) (Class B Shares) is subject to the approval
    by the board of directors.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Verwaltungsrat kann die Zustimmung aus wichtigen
    Gr&uuml;nden ablehnen. Als wichtiger Grund gilt das Fernhalten von Erwerbern, die ein Unternehmen betreiben, das mit der Gesellschaft
    in Konkurrenz steht, oder die an einem solchen Unternehmen beteiligt sind, von einem solchen angestellt oder sonst wie daf&uuml;r t&auml;tig
    sind.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors may refuse consent for good
    cause. Good cause shall be deemed to be the refraining of acquirers who operate a competing business with the Company or who have an interest
    in, are employed by or otherwise work for such a business.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Verwaltungsrat kann die Zustimmung ohne Angabe
    von Gr&uuml;nden verweigern, wenn er im Namen der Gesellschaft dem Ver&auml;usserer der Aktien anbietet, die Aktien f&uuml;r deren Rechnung,
    f&uuml;r Rechnung anderer Aktion&auml;re oder f&uuml;r Rechnung Dritter zum wirklichen Wert im Zeitpunkt des Gesuches zu &uuml;bernehmen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors may refuse its approval
    without indication of reasons if the board of directors resolves in the name of the Company to acquire the shares for the account of the
    Company, certain shareholders or third parties at their real value at the time of the request for approval.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Zustimmung kann &uuml;berdies verweigert werden,
    wenn der Erwerber nicht ausdr&uuml;cklich erkl&auml;rt, dass er die Aktien im eigenen Namen und auf eigene Rechnung erworben hat, dass
    keine Vereinbarung &uuml;ber die R&uuml;cknahme oder R&uuml;ckgabe der entsprechenden Aktien besteht, und dass er das mit den Aktien verbundene
    wirtschaftliche Risiko tr&auml;gt.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Moreover, consent may be refused if the acquirer does not expressly declare that it has acquired the shares in his own name and for his own account, that there is no agreement on the redemption or the return of corresponding shares and that he bears the economic risk associated with the shares.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Sind die Klasse B Aktien durch Erbgang, Erbteilung,
    eheliches G&uuml;terrecht oder Zwangsvollstreckung erworben worden, so kann der Verwaltungsrat das Gesuch um Zustimmung nur ablehnen,
    wenn er im Namen der Gesellschaft dem Erwerber die &Uuml;bernahme der Klasse B Aktien zum wirklichen</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">If the Class B Shares have been acquired by inheritance,
    division of an estate, matrimonial property law or execution, the board of directors may only refuse the request for approval if it offers
    to take over the Class B Shares at their real value on behalf of the Company. The real value shall be</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><IMG SRC="image_002.jpg" ALT="">&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Wert anbietet. Der wirkliche Wert ist im Verh&auml;ltnis
    zum Marktpreis der Klasse A Aktien zu bestimmen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">determined in relation to the market value of the
    Class A Shares.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt"><FONT STYLE="font-variant: small-caps"><B>III.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ORGANISATION
    DER GESELLSCHAFT</B></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 20.25pt; text-align: justify; text-indent: -20.25pt"><FONT STYLE="font-variant: small-caps"><B>III.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ORGANIZATION
    OF THE COMPANY </B></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 20.25pt; text-align: justify; text-indent: -20.25pt">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -27pt"><B>A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Generalversammlung</U></B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -27pt">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in"><B>A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>General
    Meeting</U></B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>7 &ndash; Befugnisse</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>7 &ndash; Powers </B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Oberstes Organ der Gesellschaft ist die Generalversammlung
    der Aktion&auml;re. Ihr stehen folgende un&uuml;bertragbare Befugnisse zu:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The supreme body of the Company is the general
    meeting. It has the following non-transferable powers:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: top">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">1.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify">die Festsetzung
und &Auml;nderung der Statuten;</P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">1.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify">the adoption and amendment
of the articles of association;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">2.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">die
Wahl und Abberufung des Pr&auml;sidenten bzw. der Co-Pr&auml;sidenten und der &uuml;brigen Mitglieder des Verwaltungsrates sowie der
Mitglieder des Nominierungs- und Verg&uuml;tungsausschusses;</FONT></P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">2.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify">the
    election and de-selection of the Chairman or the Co-Chairmen, respectively, and the other members of the board of directors and the members
    of the nomination and compensation committee;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 15.9pt; text-align: justify; text-indent: -15.9pt">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">3.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT><FONT STYLE="font-size: 10pt">die
    Wahl und Abberufung des unabh&auml;ngigen Stimmrechtsvertreters;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">3.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify">the
    election and de-selection of the independent voting rights representative;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 15.9pt; text-align: justify; text-indent: -15.9pt">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">4.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT><FONT STYLE="font-size: 10pt">die
    Wahl und Abberufung der Revisionsstelle;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">4.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify">the
    election and de-selection of the statutory auditors;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 15.9pt; text-align: justify; text-indent: -15.9pt">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">5.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT><FONT STYLE="font-size: 10pt">die
    Genehmigung des Gesch&auml;fts- bzw. Lageberichtes und der Konzernrechnung;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">5.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify">the
    approval of the annual and management report and the consolidated accounts;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 15.9pt; text-align: justify; text-indent: -15.9pt">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">6.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">die
    Genehmigung der Jahresrechnung sowie die Beschlussfassung &uuml;ber die Verwendung des Bilanzgewinnes, insbesondere die Festsetzung der
    Dividende;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">6.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify">the
    approval of the annual accounts and the resolution on the allocation of the retained earnings, and in particular the determination of
    the dividend;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 15.9pt; text-align: justify; text-indent: -15.9pt">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">7.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT><FONT STYLE="font-size: 10pt">die
    Festsetzung der Zwischendividende und die Genehmigung des daf&uuml;r erforderlichen Zwischenabschlusses;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
  <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">7.&#9;</FONT></P>
                                                                                <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">the determination of the interim dividend and the approval of the interim financial statements required therefor;</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">8.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT><FONT STYLE="font-size: 10pt">die
    Beschlussfassung &uuml;ber die R&uuml;ckzahlung der gesetzlichen Kapitalreserve;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
<TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">8.&#9;</FONT></P>
                                                                                <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">the passing of resolutions on the repayment of the statutory capital reserve;</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">9.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT><FONT STYLE="font-size: 10pt">die
    Dekotierung der Beteiligungspapiere der Gesellschaft;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">9.&nbsp;&#9;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">the delisting of the Company's equity securities;</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">10.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">die
    Entlastung der Mitglieder des Verwaltungsrates sowie der Gesch&auml;ftsleitung;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">10.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify">the
    discharge of the members of the board of directors and the executive committee;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 15.9pt; text-align: justify; text-indent: -15.9pt">&nbsp;</P></TD></TR>
  </TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">11.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">die
    Genehmigung der Verg&uuml;tungen an den Verwaltungsrat und die Gesch&auml;ftsleitung und gem&auml;ss Art. 21 der Statuten; </FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">11.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify">the
    approval of the compensation of the board of directors and of the executive committee according to Art.&nbsp;21 of the articles of association;
    and</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 15.9pt; text-align: justify; text-indent: -15.9pt">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">12.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">die
    Beschlussfassung &uuml;ber die Gegenst&auml;nde, die der Generalversammlung durch das Gesetz oder die Statuten vorbehalten sind.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">12.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.25in; text-align: justify">the
    adaption of resolutions on matters reserved to the general meeting by law or the articles of association.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 15.9pt; text-align: justify; text-indent: -15.9pt">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>8 &ndash; Einberufung und
    Traktandierung</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>8 &ndash; Convocation and
    Agenda</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die ordentliche Versammlung findet allj&auml;hrlich
    innerhalb sechs Monaten nach Schluss des Gesch&auml;ftsjahres statt, ausserordentliche Versammlungen werden je nach Bed&uuml;rfnis einberufen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The annual general meeting takes place every year
    within six months of the end of the financial year, and extraordinary general meetings are convened as and when required.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Einberufung zu einer Generalversammlung erfolgt
    sp&auml;testens 20 Tage vor dem Versammlungstag durch Brief oder elektronische Daten&uuml;bertragung (inkl. E-Mail) an die im Aktienbuch
    eingetragenen Aktion&auml;re, Nutzniesser und Nominees oder durch Publikation im Schweizerischen Handelsamtsblatt. Die Einberufung erfolgt
    durch den Verwaltungsrat, n&ouml;tigenfalls durch die Revisionsstelle. Das Einberufungsrecht steht auch den Liquidatoren und den Vertretern
    der Anleihensgl&auml;ubiger zu.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The convocation to the general meeting shall be
    made by letter or electronic data transmission (incl. email) to the shareholders, usufructuaries and nominees or by way of announcement
    in the Swiss Commercial Gazette at least 20 days prior to the date of the meeting. The general meeting is convened by the board of directors
    or, where necessary, by the statutory auditors. The liquidators and the representatives of bond creditors also have the right to convene
    general meetings.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Einberufung einer ausserordentlichen Generalversammlung
    kann auch von einem oder mehreren Aktion&auml;ren, die zusammen mindestens 5&nbsp;% des Aktienkapitals oder der Stimmen vertreten, schriftlich
    unter Angabe des Verhandlungsgegenstandes und des Antrages, bei Wahlen der Namen der vorgeschlagenen Kandidaten, verlangt werden.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The convocation of an extraordinary general meeting
    may also be requested in writing, indicating the agenda items and the proposals and, in case of elections, the names of the nominated
    candidates, by one or more shareholders together representing at least 5&nbsp;% of the share capital or the voting rights.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Aktion&auml;re, die zusammen mindestens &uuml;ber
    0.5&nbsp;% des Aktienkapitals oder der Stimmen vertreten, k&ouml;nnen die Traktandierung eines Verhandlungsgegenstandes verlangen. Dies
    hat mindestens 60 Tage vor der Versammlung schriftlich unter Angabe der Verhandlungsgegenst&auml;nde und Antr&auml;ge zu erfolgen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Shareholders, together representing more than 0.5&nbsp;%
    of the share capital or the voting rights, may demand that an item be placed on the agenda. Such request must be made in writing at least
    60 days prior to the meeting by indicating the agenda items and the proposals.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">In der Einberufung sind bekanntzugeben:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The notice convening the meeting shall state:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">1.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT><FONT STYLE="font-size: 10pt">das
    Datum, der Beginn, die Art und der Ort der Generalversammlung;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.65pt; text-align: justify; text-indent: -21.25pt">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">1.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>
                                                                                <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">the date, the beginning, the type and the place of the general meeting;</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">2.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT><FONT STYLE="font-size: 10pt">die
    Verhandlungsgegenst&auml;nde;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.65pt; text-align: justify; text-indent: -21.25pt">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>
                                                                                <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">the agenda items;</FONT></P></TD></TR>
  </TABLE>

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

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

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">3.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">die
    Antr&auml;ge des Verwaltungsrates mit kurzer Begr&uuml;ndung;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.65pt; text-align: justify; text-indent: -21.25pt">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; width: 48%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">3.&#9;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">the motions of the board of directors and a brief statement of the reasons for these motions;</FONT></P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.65pt; text-align: justify; text-indent: -21.25pt">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">4.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT><FONT STYLE="font-size: 10pt">gegebenenfalls
    die Antr&auml;ge der Aktion&auml;re samt kurzer Begr&uuml;ndung; und</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.65pt; text-align: justify; text-indent: -21.25pt">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">if applicable, the motions of the shareholders together with a brief statement of the reasons therefor; and</FONT></P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.65pt; text-align: justify; text-indent: -21.25pt">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.&#9;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>
                                                                                <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">der Name und die Adresse des unabh&auml;ngigen Stimmrechtsvertreters.</FONT></P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">5.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">the
    name and address of the independent proxy.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 21.65pt; text-align: justify; text-indent: -21.25pt">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Sp&auml;testens 20 Tage vor der ordentlichen Generalversammlung
    sind der Gesch&auml;ftsbericht, der Verg&uuml;tungsbericht und ein allf&auml;lliger Revisionsbericht den Aktion&auml;ren elektronisch
    zug&auml;nglich zu machen. Sofern die Unterlagen nicht elektronisch zug&auml;nglich sind, kann jeder Aktion&auml;r verlangen, dass ihm
    rechtzeitig eine Ausfertigung dieser Unterlagen zugestellt wird.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The annual report, the compensation report and
    any auditors' report shall be made available electronically for inspection by the shareholders no later than 20 days before the ordinary
    general meeting. If such documents are not available electronically, any shareholder may request that a copy of these documents be sent
    to him in due time.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&Uuml;ber Antr&auml;ge zu nicht geh&ouml;rig angek&uuml;ndigten
    Verhandlungsgegenst&auml;nden k&ouml;nnen keine Beschl&uuml;sse gefasst werden; ausgenommen sind Antr&auml;ge auf Einberufung einer ausserordentlichen
    Generalversammlung, auf Durchf&uuml;hrung einer Sonderuntersuchung und auf Wahl einer Revisionsstelle infolge Begehrens eines Aktion&auml;rs.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">No resolutions may be made on motions relating
    to agenda items that were not duly notified; exceptions to this are motions to convene an extraordinary general meeting or to carry out
    a special audit and to appoint an auditor at the request of a shareholder.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Zur Stellung von Antr&auml;gen im Rahmen der Verhandlungsgegenst&auml;nde
    und zu Verhandlungen ohne Beschlussfassung bedarf es keiner vorg&auml;ngigen Ank&uuml;ndigung.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">No advance notice is required to propose motions
    on duly notified agenda items and to debate items without passing resolutions.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>9 &ndash; Universalversammlung</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>9 &ndash; Universal Meeting</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">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.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The owners or representatives of all shares may
    hold a general meeting without observing the formalities applicable to the convocation of a general meeting, provided that no objection
    is raised.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">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.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">As long as the owners or representatives of all
    shares are present or represented at such meeting, all items which fall within the competence of the general meeting may validly be discussed
    and resolved upon.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>10 &ndash; Vorsitz und Protokoll</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>10 &ndash; Chair and Minutes</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Den Vorsitz in der Generalversammlung f&uuml;hrt
    der Pr&auml;sident oder der zust&auml;ndige Co-Pr&auml;sident des Verwaltungsrates, in dessen Verhinderungsfalle der Vize-Pr&auml;sident
    bzw. der andere Co-Pr&auml;sident. Ist auch dieser verhindert, so &uuml;bernimmt ein anderes vom Verwaltungsrat bestimmtes Mitglied</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Chairman or the responsible Co-Chairman of
    the board of directors takes the chair of the general meeting, if he is hindered the vice-Chairman or the other Co-Chairman, respectively.
    If also the latter is hindered, another member of the board of director appointed by the board of</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><IMG SRC="image_002.jpg" ALT="">&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt">&nbsp;</P></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">desselben den Vorsitz. Ist kein Mitglied des Verwaltungsrates
    anwesend, w&auml;hlt die Generalversammlung einen Tagesvorsitzenden.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">directors takes the chair. If no member of the
    board is present, the general meeting appoints the Chairman of the meeting.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Vorsitzende bezeichnet den Protokollf&uuml;hrer
    und die Stimmenz&auml;hler, die nicht Aktion&auml;re zu sein brauchen. Das Protokoll ist vom Vorsitzenden und dem Protokollf&uuml;hrer
    zu unterzeichnen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Chairman appoints the secretary and the scrutineers,
    who do not need to be shareholders. The minutes are to be signed by the Chairman and the secretary.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Jeder Aktion&auml;r kann verlangen, dass ihm das
    Protokoll innerhalb von 30 Tagen nach der Generalversammlung zug&auml;nglich gemacht wird.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The minutes must be made available at the request
    of a shareholder within 30 days of the general meeting.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Vorsitzende hat s&auml;mtliche Leitungsbefugnisse,
    die f&uuml;r die ordnungsgem&auml;sse Durchf&uuml;hrung der Generalversammlung n&ouml;tig sind.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Chairman shall have all powers and authority
    necessary to ensure the orderly conduct of the general meeting.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>11 &ndash; Stimmrecht und
    Vertretung; Unabh&auml;ngiger Stimmrechtsvertreter</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>11 &ndash; Voting Rights
    and Representation; Independent Voting Rights Representative</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Jede im Aktienbuch der Gesellschaft mit Stimmrecht
    eingetragene Aktie berechtigt zu einer Stimme. Vorbehalten bleibt Art. 693 Abs. 3 OR.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Each share registered in the share register of
    the Company with voting rights entitles the holder to one vote. Art. 693 para. 3 CO remains reserved.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Jeder Aktion&auml;r kann seine Aktien in der Generalversammlung
    selbst vertreten oder vertreten lassen durch <I>(i)</I> einen Dritten, der nicht Aktion&auml;r zu sein braucht, mittels schriftlicher
    Vollmacht, <I>(ii) </I>den gesetzlichen Vertreter, oder <I>(iii)</I> den unabh&auml;ngigen Stimmrechtsvertreter.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Each shareholder may represent his shares at the
    general meeting himself or have them represented by <I>(i)</I> a third party who do not need to be a shareholder, based on a written power
    of attorney, <I>(ii)&nbsp;</I>its legal representative, or <I>(iii) </I>the independent voting rights representative.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Generalversammlung kann physisch, an einem
    oder an mehreren Tagungsorten gleichzeitig, virtuell, oder in einer Kombination davon stattfinden. Ausserdem kann die Generalversammlung
    auch an einem ausl&auml;ndischen Tagungsort stattfinden.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The general meeting may be held physically, at
    one or several locations at the same time, virtually, or as a combination thereof. Additionally, the general meeting may also be held
    abroad.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Verwaltungsrat bestimmt die Anforderungen an
    Vollmachten und Weisungen und kann Vorschriften dar&uuml;ber erlassen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors determines the requirements
    as to power of attorney and instructions and may issue the respective rules.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Generalversammlung w&auml;hlt jedes Jahr einen
    unabh&auml;ngigen Stimmrechtsvertreter. Die Amtsdauer endet mit dem Abschluss der n&auml;chsten ordentlichen Generalversammlung. Wiederwahl
    ist m&ouml;glich. Hat die Gesellschaft keinen von der Generalversammlung gew&auml;hlten unabh&auml;ngigen Stimmrechtsvertreter so ernennt
    der Verwaltungsrat einen solchen f&uuml;r die n&auml;chste Generalversammlung.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The general meeting shall elect each year an independent
    voting rights representative. The term of office shall end at the completion of the next ordinary general meeting. Re-election is possible.
    If the Company does not have an independent voting rights representative, the board of directors shall appoint the independent voting
    rights representative for the next general meeting.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>12 &ndash; Beschlussfassung</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>12 &ndash; Resolutions</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><IMG SRC="image_002.jpg" ALT="">&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="margin: 0">&nbsp;<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">Die Generalversammlung fasst ihre Beschl&uuml;sse und vollzieht ihre Wahlen, soweit das Gesetz oder die Statuten es nicht anders bestimmen, mit der Mehrheit der vertretenen Aktienstimmen, unter Ausschluss der Stimmenthaltungen sowie der leeren und ung&uuml;ltigen Stimmen. Bei Stimmengleichheit hat der Vorsitzende einen Stichentscheid.</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">Except where the law or the articles of association provide otherwise, the general meeting passes its resolutions and executes elections with the majority of the share votes represented, excluding the abstentions and the empty and void votes. In the event of a tie, the Chairman has a casting vote.</P>
        <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Vorsitzende der Generalversammlung bestimmt
    das Verfahren der Stimmabgabe (inkl. offene oder geheime Stimmabgabe, schriftliche Stimmabgabe, elektronische Stimmabgabe). Er kann eine
    Abstimmung oder Wahl jederzeit wiederholen lassen, sofern nach seiner Meinung Zweifel am Abstimmungsergebnis bestehen. In diesem Fall
    gilt die vorausgegangene Abstimmung oder Wahl als nicht geschehen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 3%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 46%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Chairman of the general meeting determines
    the voting procedure (incl. open ballot, secret ballot, in writing, by electronic means). The Chairman may at any time order that a resolution
    or election be repeated, if he/she considers the vote to be in doubt. The resolution or election previously held shall then be deemed
    not to have taken place.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Ein Beschluss der Generalversammlung, der mindestens
    zwei Drittel der vertretenen Stimmen und die Mehrheit der vertretenen Aktiennennwerte auf sich vereinigt, ist erforderlich f&uuml;r:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">A resolution of the general meeting passed with
    a majority of at least two thirds of the votes represented and the majority of the nominal values of shares represented shall be required
    for:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">1.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.3in; text-align: justify">die &Auml;nderung des Gesellschaftszweckes;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">1.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.3in; text-align: justify">any amendment of the Company's corporate
    purpose;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">2.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.3in; text-align: justify">die Einf&uuml;hrung oder Aufhebung von
    Stimmrechtsaktien;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">2.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.3in; text-align: justify">any creation or deletion of voting right
    shares;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">3.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.3in; text-align: justify">die Zusammenlegung von Aktien;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">3.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.3in; text-align: justify">the consolidation of shares;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">4.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.3in; text-align: justify">die Beschr&auml;nkung der &Uuml;bertragbarkeit
    von Namenaktien und jede &Auml;nderung und Aufhebung einer solchen Beschr&auml;nkung;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">4.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.3in; text-align: justify">any restrictions of the transferability
    of registered shares and each amendment or the cancelation of such restrictions;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">5.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.3in; text-align: justify">die bedingte Kapitalerh&ouml;hung oder
    die Einf&uuml;hrung eines Kapitalbands;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">5.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.3in; text-align: justify">the introduction of conditional share
    capital or of a capital band;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">6.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.3in; text-align: justify">die Kapitalerh&ouml;hung aus Eigenkapital,
    gegen Sacheinlage oder durch Verrechnung mit einer Forderung und die Gew&auml;hrung von besonderen Vorteilen;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">6.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.3in; text-align: justify">any increase of capital against the Company's
    equity, against a contribution in kind, or by way of set-off with a debt of the Company as well as the granting of special benefits;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">7.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.3in; text-align: justify">den Wechsel der W&auml;hrung des Aktienkapitals;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">7.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.3in; text-align: justify">the change of the currency of the share
    capital;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">8.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.3in; text-align: justify">die Umwandlung von Partizipationsscheinen
    in Aktien;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">8.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -10pt 0pt 0pt 0.3in; text-align: justify">the conversion of participation certificates
    into shares;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>

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




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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">9.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.3in; text-align: justify">die Einf&uuml;hrung einer Statutenbestimmung
    zur Durchf&uuml;hrung der Generalversammlung im Ausland;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 3%; font-size: 12pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 12pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 46%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">9.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.3in; text-align: justify">the introduction of a provision in the
    articles of association regarding the holding of the general meeting abroad;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">10.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.3in; text-align: justify">die Einf&uuml;hrung des Stichentscheids
    des Vorsitzenden in der Generalversammlung;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 12pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">10.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.3in; text-align: justify">the introduction of the casting vote
    of the chairperson of the general meeting;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">11.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.3in; text-align: justify">die Einschr&auml;nkung oder Aufhebung
    des Bezugsrechtes;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 12pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">11.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.3in; text-align: justify">any limitation or withdrawal of subscription
    rights;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">12.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.3in; text-align: justify">die Verlegung des Sitzes der Gesellschaft;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 12pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">12.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.3in; text-align: justify">any change of the registered office of
    the Company;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">13.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.3in; text-align: justify">die Aufl&ouml;sung der Gesellschaft;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 12pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">13.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.3in; text-align: justify">the dissolution of the Company;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">14.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.3in; text-align: justify">die Dekotierung der Beteiligungspapiere;
    und</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 12pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">14.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.3in; text-align: justify">the delisting of the shares; and</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">15.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.3in; text-align: justify">die Einf&uuml;hrung einer statutarischen
    Schiedsklausel.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">15.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.3in; text-align: justify">the introduction of a statutory arbitration
    clause.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Beschlussfassung &uuml;ber die Fusion, Spaltung
    und Umwandlung richtet sich nach den Bestimmungen des Fusionsgesetzes.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The adaption of resolutions on mergers, demergers,
    and conversions is governed by the provisions of the Swiss Merger Act.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Statutenbestimmungen, die f&uuml;r die Fassung
    bestimmter Beschl&uuml;sse gr&ouml;ssere Mehrheiten als die vom Gesetz vorgeschriebenen festlegen, k&ouml;nnen nur mit dem erh&ouml;hten
    Mehr eingef&uuml;hrt und aufgehoben werden.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Provisions of the articles of association, which
    require larger majorities for passing certain resolutions than those provided for by the law, may only be adopted with the proposed majority.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -27pt"><B>B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Verwaltungsrat</U></B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -27pt">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in"><B>B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Board
    of Directors</U></B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>13 &ndash; Wahl und Zusammensetzung
    </B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>13 &ndash; Appointment and
    Constitution</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Verwaltungsrat der Gesellschaft besteht aus
    mindestens drei Mitgliedern.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors is composed by at least
    three members.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Mitglieder des Verwaltungsrates, der Pr&auml;sident
    bzw. die Co-Pr&auml;sidenten des Verwaltungsrates und die Mitglieder des Nominierungs- und Verg&uuml;tungsausschusses werden je einzeln
    von der Generalversammlung f&uuml;r die Amtsdauer von einem Jahr gew&auml;hlt, endend nach Abschluss der n&auml;chsten ordentlichen Generalversammlung.
    Wiederwahl ist m&ouml;glich.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The members of the board of directors, the Chairman
    or the Co-Chairmen, respectively, and the members of the nomination and compensation committee are appointed by the general meeting individually
    and for a term of office of one year, ending at the completion of the next ordinary general meeting. Re-election is possible.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Wird das Amt des Pr&auml;sidenten vakant, ernennt
    der Verwaltungsrat f&uuml;r die verbleibende Amtsdauer aus seiner Mitte einen neuen Pr&auml;sidenten des Verwaltungsrates. Wird das Amt
    eines Co-Pr&auml;sidenten des Verwaltungsrates vakant, handelt der andere Co-Pr&auml;sident als alleiniger Pr&auml;sident f&uuml;r die
    verbleibende Amtszeit.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">If the office of the Chairman becomes vacant, the
    board of directors shall appoint a new Chairman, from among its members for the remaining term of office. If the office of a Co-Chairman
    becomes vacant, the other Co-Chairman shall act as sole Chairman for the remaining term of office.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>

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

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Mit Ausnahme der Wahl des Pr&auml;sidenten bzw.
    der Co-Pr&auml;sidenten und der Wahl der Mitglieder des Nominierungs- und Verg&uuml;tungsausschusses durch die Generalversammlung, konstituiert
    sich der Verwaltungsrat selbst.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Except for the election of the Chairman or the
    Co-Chairmen, respectively, and the members of the nomination and compensation committee by the general meeting, the board of directors
    constitutes itself on its own.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Verwaltungsrat w&auml;hlt nach Bedarf einen
    oder mehrere Vizepr&auml;sidenten, Delegierte sowie den Sekret&auml;r, der nicht Mitglied des Verwaltungsrates sein muss.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors may elect one or several
    vice-chairmen, directors and a secretary, who need not be a member of the board of directors.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Jeder Co-Pr&auml;sident kann nach aussen einzeln
    alle Kompetenzen eines Pr&auml;sidenten aus&uuml;ben und die Gesellschaft wie ein Pr&auml;sident unter der Bezeichnung Co-Pr&auml;sident
    vertreten.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Each Co-Chairman can exercise all competences of
    a Chairman against the outside and represent the Company like a Chairman under the title Co-Chairman.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Aufgaben des Pr&auml;sidenten bzw. der Co-Pr&auml;sidenten
    sind im Organisationsreglement der Gesellschaft zu regeln. Im &Uuml;brigen verst&auml;ndigen sich die Co-Pr&auml;sidenten &uuml;ber die
    Erf&uuml;llung ihrer Aufgaben.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The duties of the Chairman or of the Co-Chairmen
    are to be regulated in the organizational regulations of the Company. Otherwise, the Co-Chairmen agree on the execution of their duties.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Bestehen in Bezug auf das Stimmrecht oder die verm&ouml;gensrechtlichen
    Anspr&uuml;che verschiedene Aktienkategorien, so haben die Aktion&auml;re jeder Aktienkategorie Anspruch auf Vertretung im Verwaltungstrat
    durch ein Mitglied. Der Verwaltungsrat trifft die notwendigen Anordnungen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">If different share categories exist with regard
    to voting rights or pecuniary rights, then the shareholders of each share category have the right to be represented on the board of directors
    by one member. The board of directors issues the instructions.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>14 &ndash; Erstattung von
    Spesen und Schadloshaltung</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>14 &ndash; Reimbursement
    of Expenses, Indemnification</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Mitglieder des Verwaltungsrates haben Anspruch
    auf Erstattung aller im Interesse der Gesellschaft entstandenen Spesen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The members of the board of directors shall be
    entitled to the reimbursement of all expenses incurred in the interest of the Company.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Soweit nicht durch Versicherungen gedeckt oder
    von Dritten bezahlt, h&auml;lt die Gesellschaft soweit gesetzlich zul&auml;ssig, die gegenw&auml;rtigen und bisherigen Mitglieder des
    Verwaltungsrates und der Gesch&auml;ftsleitung sowie deren Erben, Testamentsvollstrecker und Verwalter aus dem Verm&ouml;gen der Gesellschaft
    von allen angedrohten, h&auml;ngigen, und abgeschlossenen Klagen, Prozessen oder Verfahren &ndash; ob zivil-, straf-, verwaltungs- oder
    untersuchungsrechtlich &ndash; schadlos, sowie von allen Kosten, Geb&uuml;hren, Verlusten, Sch&auml;den und Ausgaben, die ihnen oder einem/einer
    von ihnen, ihren Erben, Testamentsvollstreckern oder Verwaltern durch<BR>
    oder aufgrund von tats&auml;chlichen oder vermeintlichen Handlungen, Zustimmungen oder</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">To the extent not included in insurance coverage
    or paid by third parties, the Company shall indemnify and hold harmless, to the extent permitted by law, the existing and former members
    of the board of directors, the executive committee, and their heirs, executors and administrators, out of the assets of the Company from
    and against all threatened, pending or completed actions, suits or proceedings &ndash; whether civil, criminal, administrative or investigative
    &ndash; and all costs, charges, losses, damages, and expenses which they or any of them, their heirs, executors or administrators, shall
    or may incur or sustain by or by reason of any actual or alleged actions, consents or omissions in or about the execution of their duty,
    or alleged duty, or by reason of the fact</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Unterlassungen im Zusammenhang mit der Aus&uuml;bung
    ihrer Pflicht oder vermeintlichen Pflicht oder aufgrund der Tatsache, dass er/sie ein Mitglied des Verwaltungsrates oder der Gesch&auml;ftsleitung
    der Gesellschaft oder des Verwaltungsrates (oder eines gleichwertigen Gesellschaftsorgans) oder der Gesch&auml;ftsleitung einer ihrer
    Konzerngesellschaften ist oder war, oder dass er/sie w&auml;hrend seiner/ihrer T&auml;tigkeit als Mitglied des Verwaltungsrates oder der
    Gesch&auml;ftsleitung der Gesellschaft, auf Ersuchen der Gesellschaft, als Mitglied des Verwaltungsrates oder der Gesch&auml;ftsleitung,
    Angestellter oder Beauftragter einer anderen Kapitalgesellschaft, Personengesellschaft, eines Joint Ventures, eines Trusts oder eines
    anderen Unternehmens t&auml;tig ist oder war, entstanden sind, entstehen oder entstehen k&ouml;nnten, jedoch unter der Voraussetzung,
    dass sich diese Schadloshaltung nicht auf eine Angelegenheit erstreckt, in der eine der genannten Personen gem&auml;ss einem rechtskr&auml;ftigen
    Urteil oder Beschluss eines Gerichts oder einer zust&auml;ndigen Regierungs- oder Verwaltungsbeh&ouml;rde, gegen den kein Rechtsmittel
    eingelegt werden kann, eine vors&auml;tzliche oder grobfahrl&auml;ssige Verletzung ihrer gesetzlichen Pflichten als Mitglied des Verwaltungsrates
    oder der Gesch&auml;ftsleitung begangen hat.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">that he/she is or was a member of the board of
    directors or executive committee of the Company or the board of directors (or equivalent corporate body) or the management of one of its
    subsidiaries, or, while serving as a member of the board of directors or executive committee of the Company, is or was serving at the
    request of the Company as a director, member of the executive committee, employee or agent of another corporation, partnership, joint
    venture, trust or other enterprise; provided, however, that this indemnity shall not extend to any matter in which any of said persons
    is found, in a final judgment or decree of a court or governmental or administrative authority of competent jurisdiction not subject to
    appeal, to have committed an intentional or grossly negligent breach of his statutory duties as a member of the board of directors or
    executive committee.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Ohne den vorstehenden
    Absatz 2 dieses Art</FONT><FONT STYLE="font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-size: 10pt">14 einzuschr&auml;nken, hat die Gesellschaft
    den gegenw&auml;rtigen und ehemaligen Mitgliedern des Verwaltungsrates und der Gesch&auml;ftsleitung die Kosten und Auslagen zu erstatten,
    die nach diesem Artikel erstattungsf&auml;hig sind, soweit sie nicht durch Versicherungen gedeckt sind oder von Dritten vorab erstattet
    werden. Die Gesellschaft kann jedoch diese vorausbezahlten Kosten zur&uuml;ckfordern, wenn eine der genannten Personen in einem rechtskr&auml;ftigen
    Urteil oder Beschluss eines Gerichts oder einer zust&auml;ndigen Regierungs- oder Verwaltungsbeh&ouml;rde, gegen das kein Rechtsmittel
    eingelegt werden kann, wegen vors&auml;tzlicher oder grobfahrl&auml;ssiger Verletzung ihrer gesetzlichen Pflichten als Mitglied des Verwaltungsrates
    oder der Gesch&auml;ftsleitung verurteilt wird.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Without limiting the foregoing paragraph 2 of this
    Art.&nbsp;14, the Company shall advance costs and expenses indemnifiable thereunder to the existing and former members of the board of
    directors and executive committee to the extent not included in insurance coverage or advanced by third parties. The Company may however
    recover such advanced costs if any of said persons is found, in a final judgment or decree of a court or governmental or administrative
    authority of competent jurisdiction not subject to appeal, to have committed an intentional or grossly negligent breach of his statutory
    duties as a member of the board of directors or executive committee.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>15 &ndash; Sitzungen und
    Beschlussfassung</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>15 &ndash; Meetings and
    Resolutions</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Sofern das Organisationsreglement nichts Anderes
    vorsieht, ist der Verwaltungsrat nur beschlussf&auml;hig, sofern die Mehrheit seiner</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Unless the organizational regulations provide otherwise,
    the board of directors may only pass resolutions if the majority of its members are</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Mitglieder anwesend ist oder sich an einer per
    Telefon, Videokonferenz oder mittels anderer Mittel der elektronischen Daten&uuml;bertragung durchgef&uuml;hrten Diskussion und Beschlussfassung
    mit oder ohne Sitzungsort beteiligt. Dieses Quorum ist nicht notwendig f&uuml;r die Feststellung der Kapitalerh&ouml;hung und die zugeh&ouml;rige
    Statuten&auml;nderung sowie f&uuml;r diejenigen Beschl&uuml;sse des Verwaltungsrats, die der &ouml;ffentlichen Beurkundung bed&uuml;rfen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">present or attending the discussion and resolution
    with or without a meeting place by phone, videoconference or other means of electronic data transmission. Such quorum is not necessary
    for the implementation of a capital increase and the related amendment to the articles of association or for resolutions of the board
    of directors that have to be officially authenticated.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Verwaltungsratssitzungen werden vom Pr&auml;sidenten
    bzw. vom zust&auml;ndigen Co-Pr&auml;sidenten einberufen und bei dessen Verhinderung durch den Vize-Pr&auml;sidenten bzw. den anderen
    Co-Pr&auml;sidenten. Jedes Mitglied des Verwaltungsrates kann unter Angabe der Gr&uuml;nde vom Pr&auml;sidenten bzw. vom zust&auml;ndigen
    Co-Pr&auml;sidenten die unverz&uuml;gliche Einberufung einer Sitzung verlangen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The meetings of the board of directors are convened
    by the Chairman or by the responsible Co-Chairman, respectively, and, if he/she is hindered, by the vice-Chairman or the other Co-Chairman.
    Each member of the board of directors may by indicating the reasons request that the Chairman or the responsible Co-Chairman immediately
    convenes a meeting without delay.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Sofern das Organisationsreglement nichts Anderes
    vorsieht, fasst der Verwaltungsrat seine Beschl&uuml;sse mit der Mehrheit der abgegebenen Stimmen. Der Pr&auml;sident bzw. der zust&auml;ndige
    Co-Pr&auml;sident hat einen Stichentscheid.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Unless the organizational regulations provide otherwise,
    the board of directors passes its resolutions with the majority of the votes casted. The Chairman or the responsible Co-Chairman, respectively,
    has a casting vote.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Beschl&uuml;sse k&ouml;nnen auch schriftlich oder
    mittels elektronischer Daten&uuml;bertragung (inkl. E-Mail) zu einem gestellten Antrag gefasst werden, sofern nicht ein Mitglied die m&uuml;ndliche
    Beratung verlangt. Im Falle der Beschlussfassung auf elektronischem Weg ist keine Unterschrift erforderlich.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Resolutions may also be passed in writing or by
    means of electronic data transmission (incl. email), if no member requests an oral discussion. In the event of resolutions being passed
    electronically, no signature shall be required.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&Uuml;ber die Verhandlungen und Beschl&uuml;sse ist ein Protokoll zu f&uuml;hren, das vom Pr&auml;sidenten bzw. vom zust&auml;ndigen Co-Pr&auml;sidenten und einem Protokollf&uuml;hrer unterzeichnet wird.</FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The meetings and resolutions shall be recorded in minutes, which are to be signed by the Chairman or the responsible Co-Chairman, respectively, and the minute taker.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Verwaltungsrat regelt im Organisationsreglement
    die Einzelheiten zur Beschlussf&auml;higkeit, Beschlussfassung und Gesch&auml;ftsf&uuml;hrung</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors shall regulate the details
    of the attendance quorum, the adaption of resolutions and the management in the organizational regulations.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>16 &ndash; Recht auf Auskunft
    und Einsicht</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>16 &ndash; Information and
    Inspection Rights</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Jedes Mitglied des Verwaltungsrates kann Auskunft
    &uuml;ber alle Angelegenheiten der Gesellschaft verlangen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Each member of the board of directors may request
    information on all matters of the Company.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">In den Sitzungen sind alle Mitglieder des Verwaltungsrates
    und der Gesch&auml;ftsleitung zur Auskunft verpflichtet.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">At the meetings, all members of the board of directors
    and executive committee are obliged to provide information.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">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
    bzw. des zust&auml;ndigen Co-Pr&auml;sidenten, auch &uuml;ber einzelne Gesch&auml;fte verlangen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Outside of the meetings, each member may request
    from the persons entrusted with the management information on the business, and, with the authorization of the Chairman or the responsible
    Co-Chairman, respectively, also on individual transactions.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Soweit es f&uuml;r die Erf&uuml;llung einer Aufgabe
    erforderlich ist, kann jedes Mitglied beim Pr&auml;sidenten bzw. beim zust&auml;ndigen Co-Pr&auml;sidenten beantragen, dass ihm B&uuml;cher
    und Akten vorgelegt werden.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">As far as necessary for the fulfilment of a duty,
    each member may request from the Chairman or the responsible Co-Chairman, respectively, that he/she is granted access to the books and
    records.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Weist der Pr&auml;sident bzw. der zust&auml;ndige
    Co-Pr&auml;sident ein Gesuch auf Auskunft, Anh&ouml;rung oder Einsicht ab, so entscheidet der Verwaltungsrat.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">If the Chairman or the responsible Co-Chairman,
    respectively, rejects an information, hearing or inspection request, then the entire board of directors resolves on it.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Regelungen oder Beschl&uuml;sse des Verwaltungsrates,
    die das Recht auf Auskunft und Einsichtnahme der Verwaltungsr&auml;te erweitern, bleiben vorbehalten.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Regulations and resolutions of the board of directors,
    which broaden the information and inspection rights of the members of the board of directors, remain reserved.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>17 &ndash; Aufgaben</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>17 &ndash; Tasks</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Verwaltungsrat kann in allen Angelegenheiten
    Beschluss fassen, die nicht nach Gesetz, Statuten oder Organisations-reglement der Generalversammlung oder einem anderen Gesellschaftsorgan
    &uuml;bertragen oder vorbehalten sind.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors may pass resolutions on
    all matters, which are not delegated or reserved to the general meeting or other corporate bodies of the Company by law, by the articles
    of association or the organizational regulations.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Verwaltungsrat hat folgende un&uuml;bertragbare
    und unentziehbare Aufgaben:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors has the following non-transferable
    and inalienable duties:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">1.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">die
    Oberleitung der Gesellschaft und die Erteilung der n&ouml;tigen Weisungen;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">1.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify">the
    overall management of the Company and the issuing of all necessary directives;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">2.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT><FONT STYLE="font-size: 10pt">die
    Festlegung der Organisation; </FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">2.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify">determination
    of the Company's organisation;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">3.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">Ausgestaltung
    des Rechnungswesens, der Finanzkontrolle sowie der Finanzplanung;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">3.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify">the
    organization of the Company's accounting, financial control and financial planning systems;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">4.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT><FONT STYLE="font-size: 10pt">die
    Ernennung und Abberufung der mit der Gesch&auml;ftsf&uuml;hrung und der Vertretung betrauten Personen;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">4.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify">the
    appointment and dismissal of persons entrusted with managing and representing the Company;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">5.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">die
    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></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">5.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify">overall
    supervision of the persons entrusted with managing, in particular with regard to compliance with the law, the articles of association,
    operational regulations and directives;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">&nbsp;</P></TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><IMG SRC="image_002.jpg" ALT="">&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt">&nbsp;</P></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">6.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">die
    Erstellung des Gesch&auml;fts- bzw. Lageberichtes, des Verg&uuml;tungsberichts sowie die Vorbereitung der Generalversammlung und die Ausf&uuml;hrung
    ihrer Beschl&uuml;sse;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">6.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify">compilation
    of the annual and management report, compensation report and preparation for the general meeting and implementation of its resolutions;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">7.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">die
    Einreichung eines Gesuches um Nachlassstundung und Benachrichtigung des Gerichts im Falle der &Uuml;berschuldung.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">7.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify">filing
of a moratorium request and notification of the court in the event of the Company's over-indebtedness.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify; text-indent: -18.15pt">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">Der Verwaltungsrat kann die Vorbereitung und die Ausf&uuml;hrung seiner Beschl&uuml;sse oder die &Uuml;berwachung von Gesch&auml;ften Aussch&uuml;ssen oder einzelnen Mitgliedern zuweisen. Er hat f&uuml;r eine angemessene Berichterstattung an seine Mitglieder zu sorgen.</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">The board of directors may assign the preparation and execution of its resolutions or the supervision of transactions to committees or individual members. It shall ensure appropriate reporting to its members.</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>18 &ndash; &Uuml;bertragung
    der Gesch&auml;ftsf&uuml;hrung und der Vertretung</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>18 &ndash; Delegation of
    Management and Representation</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Verwaltungsrat kann die Gesch&auml;ftsf&uuml;hrung
    nach Massgabe eines Organisationsreglements ganz oder zum Teil an einzelne Mitglieder oder an Dritte &uuml;bertragen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors may delegate the management
    of the Company entirely or in part to individual members or to third parties in accordance with organizational regulations.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Das Organisationsreglement ordnet die Gesch&auml;ftsf&uuml;hrung,
    bestimmt die hierf&uuml;r erforderlichen Stellen, umschreibt deren Aufgaben und regelt insbesondere die Berichterstattung.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The organizational regulations shall regulate the
    management of the Company, determine the offices required for this purpose, define their duties and, in particular, regulate the reporting.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Soweit die Gesch&auml;ftsf&uuml;hrung nicht &uuml;bertragen
    worden ist, steht sie allen Mitgliedern des Verwaltungsrates gesamthaft zu.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Where the management of the Company's business
    has not been delegated, it is the responsibility of all the members of the board of directors.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>19 &ndash; Nominierungs-
    und Verg&uuml;tungsausschuss</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>19 &ndash; Nomination and
    Compensation Committee</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Nominierungs- und Verg&uuml;tungsausschuss
    besteht aus mindestens drei Mitgliedern des Verwaltungsrates.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The nomination and compensation committee shall
    consist of at least three members of the board of directors.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Mitglieder des Nominierungs- und Verg&uuml;tungsausschusses
werden je einzeln j&auml;hrlich durch die Generalversammlung gew&auml;hlt. Die Amtsdauer endet nach Abschluss der n&auml;chsten ordentlichen
Generalversammlung. Wiederwahl ist m&ouml;glich.</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The members of the nomination and compensation
committee shall be elected individually and annually by the general meeting. The term of office ends at completion of the next ordinary
general meeting. Re-election is possible.</P></TD></TR>
  </TABLE>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><IMG SRC="image_002.jpg" ALT="">&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt">&nbsp;</P></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Bei Vakanzen kann der Verwaltungsrat aus seiner
    Mitte Ersatzmitglieder f&uuml;r eine Amtsdauer bis zum Abschluss der n&auml;chsten ordentlichen Generalversammlung ernennen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">If there are vacancies, the board of directors
    may appoint substitute members from among its members for a term of office extending until completion of the next ordinary General Meeting.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Vorsitzende des Nominierungs- und Verg&uuml;tungsausschusses
    wird vom Verwaltungsrat bestimmt.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Chairman of the nomination and compensation
    committee shall be appointed by the board of directors.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Nominierungs- und Verg&uuml;tungsausschuss
    hat folgende Aufgaben und Zust&auml;ndigkeiten:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The nomination and compensation committee has the
    following duties and powers:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">1.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">Vorbereitung
    und periodische &Uuml;berarbeitung des Verg&uuml;tungssystems und der Leistungskriterien im Bereich Verg&uuml;tung;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">1.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">Preparation
    and periodical review of the compensation system and performance criteria relating to compensation;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">2.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">Periodische
    &Uuml;berpr&uuml;fung der Umsetzung derselben sowie diesbez&uuml;gliche Antragsstellung und Abgabe von Empfehlungen an den Verwaltungsrat;
    und</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">2.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">Periodic
    review of their implementation as well as submitting related motions and recommendations to the board of directors; and</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">3.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">Vorbereitung
    aller relevanten Entscheide des Verwaltungsrates betreffend die Verg&uuml;tung der Mitglieder des Verwaltungsrates und der Gesch&auml;ftsleitung
    sowie diesbez&uuml;gliche Antragsstellung und Abgabe von Empfehlungen an den Verwaltungsrat.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">3.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">Preparation
    of all relevant resolutions of the board of directors on the compensation of the members of the board of directors and of the executive
    committee as well as submitting related motions and recommendations to the board of directors.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Organisation, Arbeitsweise und Berichterstattung
    des Nominierungs- und Verg&uuml;tungsausschusses werden vom Verwaltungsrat in einem Reglement, welches Teil des Organisationsreglements
    sein kann, geregelt.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The organisation, functioning and reporting of
    the nomination and compensation committee shall be regulated by the board of directors in regulations, which may be part of the organizational
    regulations.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Verwaltungsrat kann dem Nominierungs- und Verg&uuml;tungsausschuss
    weitere Aufgaben zuweisen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors may delegate further tasks
    to the nomination and compensation committee.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>20 &ndash; Allgemeine Grunds&auml;tze
    der Verg&uuml;tung des Verwaltungsrates und der Gesch&auml;ftsleitung</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>20 &ndash; General Principles
    of the Compensation of the Board of Directors and the Executive Committee</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Verg&uuml;tung der Mitglieder des Verwaltungsrates
    kann aus fixen und variablen Verg&uuml;tungselementen bestehen. Bei der Gesamtverg&uuml;tung wird die Position und die Verantwortung des
    Empf&auml;ngers beachtet.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The compensation of the members of the board of
    directors may consist of fixed and variable compensation elements. Total compensation shall take into account the position and level of
    responsibility of the recipient.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Verg&uuml;tung der Mitglieder der Gesch&auml;ftsleitung
    kann aus fixen und variablen Verg&uuml;tungselementen bestehen. Die fixe Verg&uuml;tung besteht aus einem Basissal&auml;r und weiteren
    Verg&uuml;tungselementen. Die variable Verg&uuml;tung kann von der Erreichung von spezifischen Leistungszielen abh&auml;ngig gemacht</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The compensation of the members of the executive
    committee may consist of fixed and variable compensation elements. Fixed compensation comprises the base salary and may consist of other
    compensation elements. Variable compensation may take into account the achievement of specific performance targets.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><IMG SRC="image_002.jpg" ALT="">&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">werden. Bei der Gesamtverg&uuml;tung wird die Position
    und die Verantwortung des Empf&auml;ngers beachtet.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Total compensation shall take into account the
    position and level of responsibility of the recipient.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Bei den Leistungszielen kann es sich um individuelle
    Ziele, um Ziele der Gesellschaft, des Konzerns oder von Teilen davon oder um Ziele in Bezug auf den Markt, andere Unternehmen oder vergleichbare
    Vergleichswerte handeln, wobei die Position und die Verantwortungsstufe des Empf&auml;ngers ber&uuml;cksichtigt werden. Der Verwaltungsrat
    oder, soweit an ihn delegiert, der Nominierungs- und Verg&uuml;tungsausschuss legt das relative Gewicht der Leistungsziele und die jeweiligen
    Zielwerte fest.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The performance targets may include individual
    targets, targets of the Company, group or parts thereof or targets in relation to the market, other companies or comparable benchmarks,
    taking into account the position and level of responsibility of the recipient. The board of directors or, to the extent delegated to it,
    the nomination and compensation committee shall determine the relative weight of the performance targets and the respective target values.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Verg&uuml;tung kann in Form von Bargeld, Aktien,
    Optionen oder anderen aktienbasierten Instrumenten oder Einheiten oder in Form von anderen Arten von Leistungen ausgerichtet werden. Der
    Verwaltungsrat oder, soweit an diesen delegiert, der Nominierungs- und Verg&uuml;tungsausschuss legt die Zuteilung-, Vesting-, Aus&uuml;bungs-,
    Beschr&auml;nkungs- und Verfallsbedingungen und -fristen fest. Diese k&ouml;nnen vorsehen, dass aufgrund im Voraus bestimmter Ereignisse,
    wie eines Kontrollwechsels oder der Beendigung eines Arbeits- oder Mandatsvertrages, Vesting- und/oder Aus&uuml;bungsbedingungen und -fristen
    weitergelten, verk&uuml;rzt oder aufgehoben werden, sowie Verg&uuml;tungen unter Annahme der Erreichung der Zielwerte ausgerichtet werden
    oder Verg&uuml;tungen verfallen. Die Gesellschaft kann die erforderlichen Aktien am Markt erwerben<BR>
    oder aus dem Bestand eigener Aktien oder unter Verwendung von bedingtem Kapital oder des Kapitalbands bereitstellen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Compensation may be paid in the form of cash, shares,
    options or other share-based instruments or units, or in the form of other types of benefits. The board of directors or, to the extent
    delegated to it, the nomination and compensation committee shall determine grant, vesting, exercise, restriction and forfeiture conditions
    and periods. They may provide for continuation, acceleration or removal of vesting and/or exercise conditions and periods, for payment
    or grant of compensation based upon assumed target achievement, or for forfeiture, in each case in the event of pre-determined events
    such as a change of control or termination of an employment or mandate agreement. The Company may procure the required shares through
    purchases in the market, from treasury shares or by using conditional share capital or the capital band.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Entsch&auml;digung kann von der Gesellschaft
    oder von ihr kontrollierten Unternehmen geleistet werden.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Compensation may be paid by the Company or companies
    controlled by it.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>21 &ndash; Genehmigung der
    maximalen Gesamtbetr&auml;ge der Verg&uuml;tungen des Verwaltungsrates und der Gesch&auml;ftsleitung</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>21 &ndash; Approval of the
    maximum Compensation of the Board of Directors and the Executive Committee</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Generalversammlung stimmt j&auml;hrlich wie
    folgt gesondert &uuml;ber die Genehmigung der Antr&auml;ge des Verwaltungsrates zum Gesamtbetrag der Verg&uuml;tungen ab:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The general meeting shall resolve annually and
    separately on the approval of the proposals of the board of directors in relation to the aggregate compensation amounts as follows:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><IMG SRC="image_002.jpg" ALT="">&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">1.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT><FONT STYLE="font-size: 10pt">des
    Verwaltungsrates f&uuml;r die Dauer bis zum Abschluss der n&auml;chsten ordentlichen Generalversammlung; und</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">1.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">of
    the board of directors for the period until the completion of the next annual general meeting; and</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">2.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">der
    Gesch&auml;ftsleitung f&uuml;r das kommende Gesch&auml;ftsjahr.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">2.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">of
    the executive committee for the coming business year.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Verwaltungsrat kann den jeweiligen maximalen
    Gesamtbetrag in einen maximalen Gesamtbetrag f&uuml;r fixe und f&uuml;r variable Verg&uuml;tungen unterteilen und die entsprechenden Antr&auml;ge
    der Generalversammlung separat zur Genehmigung vorlegen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The board of directors may divide the respective
    maximum aggregate amount into a maximum aggregate amount for fixed and for variable compensation and submit the respective proposals to
    the general meeting separately for approval.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Verweigert die Generalversammlung die Genehmigung,
    kann der Verwaltungsrat einen neuen Antrag an derselben oder an einer nachfolgenden Generalversammlung stellen und die Gesellschaft oder
    ihre Konzerngesellschaften darf Verg&uuml;tungen unter dem Vorbehalt der nachtr&auml;glichen Genehmigung durch die Generalversammlung
    ausrichten.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">If the general meeting refuses the approval, the
    board of directors may submit a new proposal at the same or a subsequent general meeting and the Company or its group companies may pay
    out compensations subject to the subsequent approval by the general meeting.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>22 &ndash; Zusatzbetrag
    f&uuml;r die Gesch&auml;ftsleitung</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>22 &ndash; Supplementary
    Amount for the Executive Committee</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Reicht der von der Generalversammlung bereits genehmigte
    maximale Gesamtbetrag der Verg&uuml;tungen nicht aus, um auch die Verg&uuml;tungen einer oder mehrerer Personen abzudecken, die nach der
    Genehmigung der Verg&uuml;tungen der Gesch&auml;ftsleitung durch die Generalversammlung f&uuml;r die betreffende Periode Mitglied der
    Gesch&auml;ftsleitung werden, so ist die Gesellschaft oder von ihr kontrollierte Gesellschaften erm&auml;chtigt, diesen Mitgliedern w&auml;hrend
    der bereits genehmigten Verg&uuml;tungsperiode(n) einen Zusatzbetrag zu bezahlen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">If the maximum aggregate amount of compensation
    already approved by the general meeting is not sufficient to also cover the compensation of one or more persons who become members of
    the executive committee after the general meeting has approved the compensation of the executive committee for the relevant period, then
    the Company or companies controlled by it shall be authorized to pay such member(s) a supplementary amount during the compensation period(s)
    already approved.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Verg&uuml;tung eines Mitglieds der Gesch&auml;ftsleitung,
    welches nach dem Zeitpunkt der Generalversammlung innerhalb der Gesch&auml;ftsleitung bef&ouml;rdert wird, wird an der n&auml;chsten Generalversammlung
    genehmigt, sofern und soweit der bereits genehmigte maximale Gesamtbetrag nicht ausreicht.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">If and to the extent that the approved maximum
    total amount is not sufficient for the remuneration of a member of the executive committee who is promoted within the executive committee
    after the date of the general meeting, the amount shall be approved at the next general meeting.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Der Zusatzbetrag darf je Verg&uuml;tungsperiode
    40&nbsp;% des Gesamtbetrages des zuletzt von der Generalversammlung genehmigten maximalen Gesamtbetrages der Verg&uuml;tung der Gesch&auml;ftsleitung
    nicht &uuml;bersteigen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The supplementary amount per compensation period
    shall not exceed 40&nbsp;% of the maximum aggregate amount of compensation of the executive committee last approved.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>23 &ndash; Mandate ausserhalb
    der Gruppe</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>23 &ndash; Mandates outside
    of the Group</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Anzahl der Mandate von Mitgliedern des Verwaltungsrates
    oder der Gesch&auml;ftsleitung in vergleichbaren Funktionen bei anderen Unternehmen mit wirtschaftlichem Zweck ausserhalb des Konzerns,
    ist beschr&auml;nkt:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The number of mandates for members of the board
    of directors or of the executive committee in comparable functions at other companies with an economic purpose outside the group is limited:</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">1.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">auf
    15 Mandate, davon nicht mehr als 5 in b&ouml;rsenkotierten Unternehmen f&uuml;r Mitglieder des Verwaltungsrates; und</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">1.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT><FONT STYLE="font-size: 10pt">for
    members of the board of directors, to 15 mandates, of which no more than 5 in listed companies; and</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">2.</FONT><FONT STYLE="font-size: 10pt"></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">auf
    10 Mandate, davon nicht mehr als 2 in einer b&ouml;rsenkotierten Gesellschaft f&uuml;r Mitglieder der Gesch&auml;ftsleitung.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">2.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: -11pt 0pt 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT><FONT STYLE="font-size: 10pt">for
    members of the executive committee, to 10 mandates, of which no more than 2 in a listed company.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Mandate in verschiedenen juristischen Personen,
    die demselben Konzern angeh&ouml;ren oder f&uuml;r denselben Konzern t&auml;tig sind, gelten als ein Mandat.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Mandates in different legal entities being part
    of the same group or for the same group are deemed to be one mandate.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Mandate, die ein Mitglied des Verwaltungsrates
    oder der Gesch&auml;ftsleitung in Aus&uuml;bung dieser Funktion auf Anordnung der Gesellschaft oder einer ihrer Konzerngesellschaften
    in vergleichbarer Funktion bei Unternehmen ausserhalb der On Gruppe wahrnimmt, unterliegen nicht der oben genannten Beschr&auml;nkung.
    Kein Mitglied des Verwaltungsrates oder der Gesch&auml;ftsleitung darf mehr als 15 solche Mandate wahrnehmen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Mandates by members of the board of directors or
    of the executive committee in comparable functions at other companies with an economic purpose outside the On Group held by instruction
    of the Company or one of its group companies are not subject to the above restriction. No member of the board of directors or the executive
    committee shall hold more than 15 such mandates.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Mandate, die ein Mitglied des Verwaltungsrates oder der Gesch&auml;ftsleitung in vergleichbarer Funktion bei Vereinen, gemeinn&uuml;tzigen Organisationen, Familienstiftungen und Stiftungen, Trusts, sowie Personalf&uuml;rsorgestiftungen ohne wirtschaftlichen Zweck aus&uuml;bt, unterliegen nicht den oben genannten Beschr&auml;nkungen. Kein Mitglied des Verwaltungsrates oder der Gesch&auml;ftsleitung darf mehr als 15 solche Mandate wahrnehmen.</FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Mandates by members of the board of directors or
    of the executive committee in comparable functions of associations, charitable organizations, family trusts and foundations, trust and
    employees' benefit foundations without an economic purpose are not subject to the above limitations. No member of the board of directors
    or the executive committee shall hold more than 15 such mandates.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Annahme durch Mitglieder des Verwaltungsrates
    oder der Gesch&auml;ftsleitung von Mandaten in vergleichbarer Funktion in Unternehmen mit wirtschaftlichem Zweck ausserhalb des Konzerns
    erfordert die vorg&auml;ngige Genehmigung des Verwaltungsrates oder, sofern an diesen delegiert, des Nominierungs- und Verg&uuml;tungsausschusses.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The acceptance of mandates by members of the board
    of directors or of the executive committee in comparable functions at other companies with an economic purpose outside the On Group requires
    the prior approval of the board of directors or, if delegated to it, of the nomination and compensation committee.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Mitglieder des Verwaltungsrates oder der Gesch&auml;ftsleitung,
    welche im Zeitpunkt ihrer Wahl bei der Gesellschaft oder welche durch die Annahme eines Mandates bei einer Rechtseinheit</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Members of the board of directors or of the executive
    committee who, at the time of their election by the Company or who, by accepting a mandate with a legal entity outside the On Group,</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt"><IMG SRC="image_002.jpg" ALT="">&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin: 0pt">&nbsp;</P></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">ausserhalb der On Gruppe, die Anforderung dieses
    Artikels nicht oder nicht mehr erf&uuml;llen, haben bis zum ordentlichen R&uuml;cktrittsdatum eines &uuml;berz&auml;hligen Mandates, l&auml;ngstes
    aber innert zw&ouml;lf Monaten seit dieser Wahl oder Annahme, ihre Anzahl Mandate auf das erlaubte Mass zu reduzieren. W&auml;hrend dieser
    Zeit sind sie Mitglied des Verwaltungsrates oder der Gesch&auml;ftsleitung mit allen Rechten und Pflichten.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">do not or no longer fulfill the requirements of
    this article, shall reduce their number of mandates to the permitted level until the ordinary resignation date of a surplus mandate, but
    at the latest within twelve months of such election or acceptance, during which time they shall remain a member of the board of directors
    or of the executive committee with all rights and duties.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>24 &ndash; Vertr&auml;ge
    &uuml;ber die Verg&uuml;tung</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>24 &ndash; Agreement on
    the Compensation</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Gesellschaft oder von ihr kontrollierte Gesellschaften
    k&ouml;nnen mit Mitgliedern des Verwaltungsrates Vertr&auml;ge &uuml;ber deren Verg&uuml;tung abschliessen. Die Dauer und Beendigung richtet
    sich nach der Amtsdauer und dem Gesetz.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Company or companies controlled by it may enter
    into agreements with members of the board of directors relating to their compensation. The duration and termination are subject to the
    term of office and the law.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Gesellschaft oder von ihr kontrollierte Unternehmen
    k&ouml;nnen mit Mitgliedern der Gesch&auml;ftsleitung befristete oder unbefristete Arbeitsvertr&auml;ge abschliessen. Befristete Vertr&auml;ge
    haben eine H&ouml;chstdauer von einem Jahr. Eine Erneuerung ist m&ouml;glich. Unbefristete Vertr&auml;ge haben eine K&uuml;ndigungsfrist
    von maximal zw&ouml;lf Monaten.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Company or companies controlled by it may enter
    into employment agreements with members of the executive committee for a fixed term or for an indefinite term. Fixed term agreements may
    have a maximum duration of one year. Renewal is possible. Agreements for an indefinite term shall have a notice period of maximum twelve
    months.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Vereinbaren die Gesellschaft oder von ihr kontrollierte
    Gesellschaften ein nachvertragliches Konkurrenzverbot mit Mitgliedern des Verwaltungsrates oder der Gesch&auml;ftsleitung f&uuml;r die
    Zeit nach Beendigung des Arbeitsverh&auml;ltnisses, so darf die Entsch&auml;digung f&uuml;r ein solches Konkurrenzverbot den Durchschnitt
    der Verg&uuml;tungen der letzten drei Gesch&auml;ftsjahre nicht &uuml;bersteigen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">If the Company or companies controlled by it enter into non-compete agreements with members of the board of directors or the executive committee for the time after termination of employment, the consideration paid for such non-compete agreements shall pro rata not exceed the average of the remunerations of the last three business years.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>25 &ndash; Darlehen und
    Kredite</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>25 &ndash; Loans and Credits</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Den Mitgliedern des Verwaltungsrates und der Gesch&auml;ftsleitung
    k&ouml;nnen Darlehen und Kredite in der maximalen H&ouml;he von CHF&nbsp;1'000'000 und nur zur markt&uuml;blichen Bedingungen gew&auml;hrleistet
    werden.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The members of the board of directors and the executive
    committee may be granted loans and credits up to a maximum amount of CHF&nbsp;1,000,000 and only at arm's length conditions.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>26 &ndash; Vorsorgeleistungen</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>26 &ndash; Post-Retirement
    Benefits</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Gesellschaft oder von ihr kontrollierte Gesellschaften
    k&ouml;nnen den Mitgliedern des Verwaltungsrates und der Gesch&auml;ftsleitung &uuml;ber die berufliche Vorsorge hinausgehende Vorsorgeleistungen
    gew&auml;hren, welche die zuletzt ausbezahlte j&auml;hrliche Verg&uuml;tung des jeweiligen</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Company or companies controlled by it may grant
    to members of the board of directors and the executive committee post-retirement benefits beyond the occupational benefit schemes, which
    do not exceed the annual compensation of the respective member of the board of directors or the executive committee last paid.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Mitglieds des Verwaltungsrates oder der Gesch&auml;ftsleitung
    nicht &uuml;bersteigen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -27pt"><B>C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Revisionsstelle</U></B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -27pt">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in"><B>C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Statutory
    Auditors</U></B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>27 &ndash; Revision</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>27 &ndash; Audit</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Generalversammlung w&auml;hlt j&auml;hrlich
    ein staatlich beaufsichtigtes Revisionsunternehmen im Sinne des Revisionsaufsichtsgesetzes (in der jeweils g&uuml;ltigen Fassung) als
    Revisionsstelle f&uuml;r eine Amtsdauer von einem Jahr bis zum Abschluss der n&auml;chsten ordentlichen Generalversammlung. Wiederwahl
    ist m&ouml;glich.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The general meeting shall annually elect a state-supervised
    auditing company within the meaning of the Audit Supervision Act (as amended from time to time) as statutory auditors for a term of office
    of one year until the completion of the next ordinary general meeting. Re-election is possible.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Revisionsstelle hat die ihr gesetzlich zugewiesenen
    Befugnisse und Pflichten.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The statutory auditors have the powers and duties
    assigned to them by law.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt"><FONT STYLE="font-variant: small-caps"><B>IV.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RECHNUNGSABSCHLUSS
    UND GEWINNVERTEILUNG</B></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-indent: -0.3in"><FONT STYLE="font-variant: small-caps"><B>IV.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FINANCIAL
    REPORTING AND PROFITS DISTRIBUTION</B></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-indent: -0.3in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>28 &ndash; Gesch&auml;ftsjahr
    und Buchf&uuml;hrung</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>28 &ndash; Business Year
    and Financial Statements</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Das Gesch&auml;ftsjahr wird vom Verwaltungsrat
    festgelegt.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The fiscal year is determined by the board of directors.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Rechnungslegung erfolgt nach Massgabe der anwendbaren
    gesetzlichen Vorschriften sowie des anwendbaren Standards zur Rechnungslegung.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The financial statements are prepared in accordance
    with the applicable legal requirements and the applicable accounting standards.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>
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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>29 &ndash; Reserven und
    Gewinnverwendung</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>29 &ndash; Reserves and
    Appropriation of Profit</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Generalversammlung beschliesst im Rahmen der
    zwingenden gesetzlichen Bestimmungen &uuml;ber die Verwendung des Bilanzgewinns.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The general meeting shall resolve on the allocation
    of the profit as shown on the balance sheet in accordance with applicable law.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.05in 0pt 0; text-align: justify">Neben den gesetzlichen Reserven kann
    die Generalversammlung weitere Reserven bilden.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.05in 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">In addition to the reserves required by law, the
    general meeting may create other reserves.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Dividenden, die nicht innerhalb von f&uuml;nf Jahren nach ihrer F&auml;lligkeit bezogen worden sind, verfallen zugunsten der Gesellschaft.</FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Dividends that have not been collected within five years after their payment date shall inure to the Company.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>30 &ndash; Aufl&ouml;sung
    und Liquidation</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>30 &ndash; Dissolution and
    Liquidation</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die Aufl&ouml;sung der Gesellschaft kann durch
    einen Beschluss der Generalversammlung, &uuml;ber den eine &ouml;ffentliche Urkunde zu errichten ist, erfolgen.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The dissolution of the Company may be effected
    by a resolution of the general meeting, on which a public deed shall be drawn up.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.05in 0pt 0; text-align: justify">Die Liquidation wird durch den Verwaltungsrat
    besorgt, falls sie nicht durch einen Beschluss der Generalversammlung anderen Personen</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.05in 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Liquidation shall be carried out by the board of
    directors, unless it is assigned to other persons by a resolution of the general meeting. The</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  </TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.05in 0pt 0; text-align: justify">&uuml;bertragen wird. Die Liquidation
    erfolgt gem&auml;ss Art. 742 ff. OR.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.05in 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">liquidation shall be carried out in accordance
    with Art. 742 et seqq. CO.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Das Verm&ouml;gen der aufgel&ouml;sten Gesellschaft
    wird nach Tilgung ihrer Schulden nach Massgabe der einbezahlten Betr&auml;ge unter die Aktion&auml;re verteilt.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The assets of the dissolved Company shall be distributed
    among the shareholders after repayment of its debts in proportion to the amounts paid in.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -27pt"><FONT STYLE="font-variant: small-caps"><B>V.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BENACHRICHTIGUNG</B></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -27pt">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-indent: -0.3in"><FONT STYLE="font-variant: small-caps"><B>V.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOTIFICATION</B></FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.3in; text-indent: -0.3in">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Artikel</B>&nbsp;<B>31 &ndash; Mitteilungen
    und Bekanntmachungen</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Article</B>&nbsp;<B>31 &ndash; Notices and Announcements</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Mitteilungen an die Aktion&auml;re erfolgen per
    Brief oder E-Mail an die im Aktienbuch eingetragene Adresse bzw. an die letzte der Gesellschaft bekanntgegebene E-Mail-Adresse oder mittels
    Publikation im Schweizerischen Handelsamtsblatt.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Notices to shareholders shall be made by letter
    or email to the addresses recorded in the share register or to the last address communicated to the Company or by publication in the Swiss
    Official Gazette of Commerce (SOGC).</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Publikationsorgan der Gesellschaft ist das Schweizerische
    Handelsamtsblatt.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The official means of publication of the Company
    shall be the Swiss Official Gazette of Commerce.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Artikel</B>&nbsp;<B>32 &ndash; Sacheinlage und Sach&uuml;bernahme</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Article</B>&nbsp;<B>32 &ndash; Contribution in Kind and Acquisition
    in Kind</B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Die Gesellschaft &uuml;bernimmt bei der Kapitalerh&ouml;hung vom 20. Januar 2020 gem&auml;ss Sacheinlage- und Sach&uuml;bernahmevertrag vom 20. Januar 2020 von Thilo Brunner, von Hemberg, in Z&uuml;rich, und J&ouml;rg Mettler, von Hemberg, in Niederlenz, s&auml;mtliche Stammanteile mit einem Nennwert von je CHF 1'000 der Brunner Mettler GmbH, Z&uuml;rich, im Wert von mindestens und zum Preis von CHF 929'660, wof&uuml;r die Einleger insgesamt 366 neue Namenaktien der Gesellschaft mit einem Nennwert von je CHF 10 erhalten sowie CHF 926'000 in bar.</FONT></TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In the course of the capital increase on January 20, 2020 and pursuant to agreement related to the contribution in kind and acquisition in kind dated January 20, 2020, the Company acquires from Thilo Brunner, from Hemberg, in Zurich, and J&ouml;rg Mettler, from Hemberg, in Niederlenz, all quotas with a nominal value of CHF 1,000.-- each in Brunner Mettler GmbH, Zurich, with a value of at least and at a price of CHF 929,660.--, for which the contributors receive a total of 366 new registered shares in the Company with a nominal value of CHF 10.-- each, as well as CHF 926,000.-- in cash.</FONT></TD></TR>
  </TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="4">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">*&nbsp;&nbsp;*&nbsp;&nbsp;*&nbsp;&nbsp;*&nbsp;&nbsp;*</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Die englische Fassung der Statuten ist eine &Uuml;bersetzung
    des deutschen Originaltextes und ist rechtlich nicht verbindlich.</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%; font-size: 10pt; layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The English version of the articles of association is a translation of the German original and shall not have legal binding effect.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Z&uuml;rich, den 22. Mai 2025</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>Zurich, May 22, 2025</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">______________________</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%; font-size: 10pt; layout-grid-mode: line; text-align: justify">______________________</FONT></TD></TR>
  </TABLE>
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    <TD STYLE="width: 48%">David Allemann</P>

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    <TD STYLE="width: 2%; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
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