Proposal for the Distribution of Available Retained Earnings

CHF

December 31, 2023

December 31, 2022

Balance brought forward

630,738,307

26,156,820

Cancellation of shares

–506,894,780

–

Net income

855,837,104

366,537,238

Other

6,408,780¹

6,573,007

Available retained earnings

986,089,411

399,267,065

Shares and participation certificates as per bylaws of CHF 23,597,720 as at December 31, 2023 (CHF 23,949,460 in prior year)

Release of general legal reserve

–

71,040,000

Release of special reserve

–

471,774,222

1400% (1300% in prior year) dividend

–330 368 080²

–311,342,980

Balance carried forward

655,721,331

630,738,307

Allocation of approved capital contribution reserve to free reserves

–³

–

Withholding tax exempt distribution CHF 0 per registered share/CHF 0 per participation certificate (CHF 0 per RS/CHF 0 per PC in prior year)

–

1	Includes dividends not distributed on treasury stock held of CHF 9,238,320 distributed on options exercised during the period January 1 to April 23, 2023 of CHF –1,474,850, fees for excercising options of CHF –1,362,957, and expired dividends of CHF 8,267.
2	Number of registered shares and participation certificates, status as at December 31, 2023. During the period from January 1 until record date of April 23, 2024, the dividend-bearing capital (the number of registered shares and participation certificates) can change as a result of additions and retirements within either class of treasury stock as well as the exercise of options, granted through the employee stock option plan. Consequently the allocation of the approved capital contribution reserve to free reserves will be adjusted accordingly.
3	Reserves from capital contributions must be used for the share buy-back program currently in place and will not be available for distribution at the 2024 Annual General Meeting.

For 2023 the Board of Directors proposes a total dividend of CHF 1,400 per registered share and CHF 140 per participation certificate.