Report of the Statutory Auditor to the General Meeting of Shareholders of Conzzeta AG, Zurich

We have audited the compensation report dated December 31, 2020, of Conzzeta AG for the year ended December 31, 2020. The audit was limited to the disclosures required under Articles 14–16 of the Ordinance against Excessive Pay at Listed Stock Corporations contained in the sections “Compensation of the Board of Directors for the 2020/2021 term of office” and “Compensation of the Executive Committee for 2020” of the compensation report.

Responsibility of the Board of Directors

The Board of Directors is responsible for the preparation and overall fair presentation of the Compensation Report in accordance with Swiss law and the Ordinance against Excessive compensation in Stock Exchange Listed Companies (Ordinance). The Board of Directors is also responsible for designing the compensation system and defining individual compensation packages.

Auditor’s Responsibility

Our responsibility is to express an opinion on the accompanying Compensation Report. We conducted our audit in accordance with Swiss Auditing Standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the Compensation Report complies with Swiss law and Articles 14–16 of the Ordinance.

An audit involves performing procedures to obtain audit evidence on the disclosures made in the Compensation Report with regard to compensation, loans and credits in accordance with articles 14–16 of the Ordinance. The procedures selected depend on the auditor’s judgment, including an assessment of the risks of material misstatements in the Compensation Report, whether intentional or unintentional. This audit also includes evaluating the reasonableness of the methods applied to value components of compensation, as well as assessing the overall presentation of the Compensation Report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Opinion

In our opinion, the Compensation Report for the year ended December 31, 2020, of Conzzeta AG complies with Swiss law and articles 14–16 of the Ordinance.

KPMG AG

François Rouiller

Licensed Audit Expert
Auditor in Charge

Reto Kaufmann

Licensed Audit Expert

Zurich, March 12, 2021