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

¹ The man­age­ment re­port presents the busi­ness per­form­ance and the eco­nom­ic po­s­i­tion of the un­der­tak­ing and, if ap­plic­able, of the cor­por­ate group at the end of the fin­an­cial year from points of view not covered in the an­nu­al ac­counts.

² The man­age­ment re­port must in par­tic­u­lar provide in­form­a­tion on:

1.

the num­ber of full-time po­s­i­tions on an­nu­al av­er­age;

2.

the con­duct of a risk as­sess­ment;

3.

or­ders and as­sign­ments;

4.

re­search and de­vel­op­ment activ­it­ies;

5.

ex­traordin­ary events;

6.

fu­ture pro­spects.

³ The man­age­ment re­port must not con­tra­dict the eco­nom­ic po­s­i­tion presen­ted in the an­nu­al ac­counts.