Compensation report

On 1 January 2014, the Ordinance against excessive compensation in listed companies (OaECV) came into force in Switzerland. Pursuant to the ordinance, Swiss public companies whose shares are listed on an exchange in Switzerland or abroad must publish details about the compensation of the directors and corporate bodies. The details that are to be reported are stipulated in articles 13 to 16 of the OaECV.

Introduction

On 1 January 2014, the Ordinance against excessive compensation in listed companies (OaECV) came into force in Switzerland. Pursuant to the ordinance, Swiss public companies whose shares are listed on an exchange in Switzerland or abroad must publish details about the compensation of the directors and corporate bodies. The details that are to be reported are stipulated in articles 13 to 16 of the OaECV.

According to the Regulatory Board Communiqué No. 2 / 2014 of 1 September 2014, No. II, all companies listed on the SIX Swiss Exchange should have to disclose the same information on corporate governance. Issuers that are not subject to the regulations of the OaEC have to therefore publish details about the compensation of the members of the Board of Directors and the Board of Management in the same manner as Art. 14 to 16 of the OaEC. By publishing this compensation report, Liechtensteinische Landesbank AG is fulfilling this obligation.

The following report deals with the compensation policy, the elements of the compensation, the responsibilities and the stipulation procedure. The compensation paid during the 2015 business year is also presented.