Board of Directors’ proposal for the appropriation of retained earnings and distribution from distributable paid-in capital

At the Annual Shareholder Meeting the Board of Directors will propose the following appropriation of retained earnings:

At the Annual Shareholder Meeting the Board of Directors will propose to pay a distribution of CH 1.50 per share from distributable paid-in capital.

Provided the proposal is approved, the movement in the distributable paid-in capital reserve will be as follows:

If the proposal is approved, the net distribution of CHF 1.50 per entitled share will be paid on May 3, 2018.