Number of activities permitted outside the Group

The number of activities that members of the Board of Directors may perform in comparable functions at other companies with an economic purpose outside the Group is according to Article 19, subsection 3 item 1 of the Articles of Association limited to four mandates in listed companies, 10 mandates in non-listed companies, and 10 mandates in other legal entities, such as foundations and associations, with an economic purpose. Any new mandates of members of the Board of Directors in companies outside the Lindt & Sprüngli Group require the prior approval of the Chair of the Board of Directors and the chair of the CNC in accordance with article 10.12 of the Organizational Regulations. Where mandates are assumed in different legal entities of one corporate group, or at the behest of one corporate group, these are accounted in the aggregate as a single mandate but may not exceed 40 mandates in total. These limits may be exceeded temporarily, but in any case not by more than one mandate per category.

Members of the Board of Directors may not be personally compensated for mandates in other companies held on request of the company or in companies controlled by the Group. Any potential exceptions must be approved by the CNC (see article 10.13 of the Organizational Regulations).