6 Reasons to List on SIX

6 reasons to list on SIX

Based on most important factors according to PwC “Capital Markets in 2025” survey (1) Liquidity SIX is one of the most liquid exchanges in Europe

Free float market cap in US$m

3'000'000

Milan 2'500'000

2'000'000

1'500'000

London Amsterdam 1'000'000

500'000 Paris Zurich Frankfurt

Stockholm Madrid - LSE NYSE Euronext SIX Deutsche Börse Nasdaq OMX BME

Liquidity ratios of European bluechip indices

990,021 771,566 451,308 882,583 Turnover in Mio SFr 59,275 50,603 932,424 50,226 Average executable size in SFr 13,071 10,553 23,587 24,629 Average trade size in SFr 61.2% 66.4% 67.5% 67.4% Market share vs MTFs 26.8% 38.1% 50.4% 23.9% EBBO size 8.16 7.00 9.54 5.39 Spread in bps

Source: STOXX Europe TMI / TAG Nov-12

Zurich, 05/06/2013 Page 2 (2) Investor base SIX listing is your key to unlock global private wealth

Channel Islands Caribbean Hong Kong Switzerland UK Dublin Luxembourg Panama Singapore US

North 0.04 0.12 0.11 0.39 0.05 America

Western 0.93 0.15 0.51 0.36 0.13 0.14 0.12 Europe 0.93 0.36

Eastern 0.09 0.05 0.04 0.03 0.03 Europe

Asia 0.23 0.26 0.14 0.06 0.16 0.76 0.20 Pacific

Latin 0.25 0.03 0.03 0.01 0.25 0.24 America

Middle East 0.56 0.33 0.21 0.04 0.06 0.06 0.04 Africa 0.56 0.33 0.21

2.1 0.9 1.0 0.5 1.0 1.0 0.6

Source: BCG Global Wealth Report 2012 / AuM in US$trn

Zurich, 05/06/2013 Page 3 (3) Listing requirements SIX provides the most efficient access to European buyside

LSE NYSE Euronext Deutsche Börse

Listing requirements 25% free float 25% free float 25% free float or 25% free float SFr25m market cap £700k market cap 5% equivalent to €5m €1.25m market cap SFr25m equity capital working capital for 12 mth working capital for 12 mth 10,000 of issued shares 3 years track record 3 years track record 3 years track record 3 years track record + + + + Regulatory approval SIX approved prospectus FSA approved prospectus AMF approved prospectus BaFin approved in line with SIX directives in line with EU directive in line with EU directive prospectus (EU directive) - 4 weeks - 4 months - 2 months - 4 months +++ + ++ + National index inclusion day1 regardless of quarterly, assignment of quarterly, subject to 20% HQ in Germany or EU domicile and share type UK nationality required velocity requirement with turnover threshold +++ + ++ +

Listing Fees SFr19,000 initially £62,936 initially €64,000 initially €5,500 initially (100m market cap) SFr7,000 p.a. £8,785 p.a. €23,000 p.a. €10,000 p.a. ++ + + ++

Overall +++ + ++ ++

Source: Baker & McKenzie Listing Handbook 2012 / Index rules

Zurich, 05/06/2013 Page 4 (4) Infrastructure SIX is a fully integrated operator of secondary markets

Investment Bank

Equity Equity Capital Investors Issuers Brokerage Markets

UK Regulation Listing Authority

London Stock Trading Exchange

Clearing LCH.Clearnet

Settlement Euroclear

Zurich, 05/06/2013 Page 5 (5) Valuation SIX listed companies achieve higher valuation multiples

P/E multiples Index est. EV / EBITDA

SLI 30 OMX 30

IBEX 35 SLI 30

OMX 30 CAC 40

DAX 30 IBEX 35

FTSE 100 DAX 30

CAC 40 FTSE 100

0x 4x 8x 12x 16x 0x 4x 8x 12x 16x ytd 2012 FY2011 ytd 2012 FY2011

Open today`s FT (page 23) and see it for yourself that SIX listed companies do indeed achieve higher valuations compared to their European peers. This is not only true for the broader Swiss equity market in general but also for sectors in which SIX dominates in Europe (see next slide).

Source: Bloomberg, Nov-12

Zurich, 05/06/2013 Page 6 (6) Sector focus SIX dominates in a dozen European industry sectors

Rank 1 sector / rank 1 company

Recruitment Industrial Machinery Adecco ABB

Retailers Food Products Galenica , Dufry Nestle

Real Estate Pharma Rank 2 sector / rank 2 company Swiss Prime Site Novartis

BioTech Specialty Chemicals Actelion Syngenta

Luxury Goods Full Line Insurance Richemont Zurich

Building Materials Reinsurance Holcim Swiss Re

Source: STOXX Europe TMI, Nov-12

Zurich, 05/06/2013 Page 7 Thank you Contact: +41 58 399 2245 | [email protected]

Marco Estermann Konstantin Dombrowski Christian Ryf Head Issuer Relations Senior Relationship Manager Analyst +41 58 399 2406 +41 58 399 4640 +41 58 399 2153 [email protected] [email protected] [email protected]

Disclaimer

None of the information contained herein constitutes an offer to buy or sell a financial instrument that is traded on SIX Swiss Exchange Ltd. SIX Swiss Exchange Ltd is liable neither for the completeness and accuracy of the information given, nor for any loss incurred as a result of action taken on the basis of information provided in this or any other SIX Swiss Exchange Ltd publication. SIX Swiss Exchange Ltd expressly reserves the right to alter prices or product composition at any time.

SIX Swiss Exchange Ltd is a joint-stock company under Swiss law. It operates a securities exchange which is licensed and supervised by the Swiss Federal Banking Commission. SIX Swiss Exchange Ltd is a stock exchange recognised in France, Italy, the Netherlands and the United Kingdom. It may also operate in Austria, Finland, Germany, Sweden, Belgium and Luxembourg.

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