Item 4

Amendments to the Articles of Association in accordance with the new Ordinance Against Excessive Compensation in Listed Stock Corporations

A. Motion
The Board of Directors proposes the approval of various amendments to the Articles of Association implementing the new Ordinance Against Excessive Compensation in Listed Stock Corporations.

B. Explanation
On 3 March 2013, the Swiss people approved the Minder initiative, which entails
changes to the governance of public companies. The Swiss Federal Council has enacted an ordinance implementing the initiative, which came into effect on 1 January 2014, subject to certain transitional provisions. The amended Articles of Association ensure compliance with the new Ordinance Against Excessive Compensation in Listed Stock Corporations.

For further information we refer to the Report of the Board of Directors on the proposed amendments to the Articles of Association and the amended Articles of Association enclosed in the Annex at the end of this invitation.