Federal Act
on the Amendment of the Swiss Civil Code
(Part Five: The Code of Obligations)

¹ The fol­low­ing shall be as­signed to the stat­utory cap­it­al re­serve:

1.

any share is­sue pro­ceeds in ex­cess of the nom­in­al value and the is­sue costs;

2.

the amounts paid up on for­feited shares (Art. 681 para. 2) that have been re­tained, un­less there is a short­fall on the shares newly is­sued in re­turn;

3.

oth­er con­tri­bu­tions and ad­vances made by hold­ers of equity se­cur­it­ies.

² The stat­utory cap­it­al re­serve may be re­paid to the share­hold­ers if the stat­utory cap­it­al re­serves and re­tained earn­ings, under deduction of any losses, ex­ceed one half of the share cap­it­al spe­cified in the com­mer­cial re­gister.

³ Com­pan­ies whose primary pur­pose is to hold equity par­ti­cip­a­tions in oth­er com­pan­ies (hold­ing com­pan­ies) may re­pay the stat­utory cap­it­al re­serve to the share­hold­ers if the stat­utory cap­it­al re­serves and re­tained earn­ings ex­ceed 20 per cent of the share cap­it­al spe­cified in the com­mer­cial re­gister.

⁴ The stat­utory re­tained earn­ings for the com­pany’s own shares in the group (Art. 659b) and the stat­utory re­tained earn­ings from re­valu­ations (Art. 725c) shall not be taken in­to con­sid­er­a­tion when cal­cu­lat­ing the lim­its in para­graphs 2 and 3.