On 1 January 2014 the “Ordinance” entered into effect. It provides that going forward the Annual General Meeting will annually elect the members of the Board of Directors, the Chairman of the Board of Directors, as well as the members of the Compensation Committee, individually and separately, for one-year terms.

The Board of Directors proposes that the following Board members be re-elected for a one-year term:

• Walter B. Kielholz
• Mathis Cabiallavetta
• Renato Fassbind
• Raymund Breu
• Raymond K.F. Ch’ien
• Mary Francis
• Rajna Gibson Brandon
• C. Robert Henrikson
• Hans Ulrich Maerki
• Carlos E. Represas
• Jean-Pierre Roth

Furthermore, the Board of Directors has nominated

• Susan L. Wagner

to be proposed to the Annual General Meeting in 2014 for first-time election as member of the Board of Directors for a one-year term. Susan L. Wagner is co-founder and Director of BlackRock Inc., where she served as Vice Chairman and a member of the Global Executive and Operating Committees before retiring in mid-2012. Over the course of her nearly 25 years at the firm, Susan L. Wagner served as Chief Operating Officer, Head of Strategy, Corporate Development, Investor Relations, Marketing and Communications, Alternative Investments and International Client Business. Susan L. Wagner is American and graduated from Wellesley College with a BA in English and economics, and earned an MBA in finance from the University of Chicago.

The Board of Directors proposes that the following Board member be elected as Chairman of the Board of Directors, for a one-year term:

• Walter B. Kielholz

The Board of Directors also proposes that the following Board members be elected as members of the Compensation Committee, for a one-year term:

• Renato Fassbind
• C. Robert Henrikson
• Hans Ulrich Maerki
• Carlos E. Represas