UPC (Switzerland) Pension Fund

Pension fund regulations 01 January 2021 Summary of regulations UPC (Switzerland) Pension Fund

Overview of benefits and financing

Pensionable annual salary Art. 6 into a retirement pension is carried out according to the age of retirement and the ap- Annual salary less coordination offset (see plied conversion rate (see Annex 5). Annex 5). AHV bridging pension up to the maximum Financing Art. 7 AHV retirement pension. Savings contribution (Spb) Retired person's child's pension: 20% of annual salary current retirement pension. "Mini" savings plan (limited availability, see Disability benefits Art. 15 - Art. 17 Art. 46 Transitional provisions) Disability pension: Equals the projected re- Age Employ- Employ- Total tirement capital (less interest) converted ee er Spb using the conversion rate in accordance 25 - 34 4.3 6.5 10.8 with the regulations, maximum 60% of the 35 - 44 6.0 9.0 15.0 pensionable annual salary, from 2 years af- 45 - 54 7.4 11.1 18.5 ter admittance to the pension fund 60% of the pensionable annual salary "Standard" savings plan Disabled person's child's pension: 20% of Age Employ- Employ- Total the current disability pension. ee er Spb Waiver of contribution payments upon ter- 20 - 24 4.0 4.5 8.5 mination of the continued payment of full 25 - 34 5.3 6.5 11.8 salary or expiry of daily allowances. 35 - 44 7.0 9.0 16.0 Death benefits Art. 18 - Art. 22 45 - 54 8.4 11.1 19.5 55 - 65 10.2 13.8 24.0 Spouse's or life partner's pension: 40% of the pensionable annual salary at the time of death "Maxi" savings plan Orphan's pension: 20% of the insured or Age Employ- Employ- Total current disability pension or the current re- ee er Spb tirement pension. 20 - 24 4.5 4.5 9.0 Lump-sum death benefit amounting to 25 - 34 6.3 6.5 12.8 100% of the accrued savings capital, less 35 - 44 8.0 9.0 17.0 the cash value of all the pensions and set- 45 - 54 9.4 11.1 20.5 tlements triggered by the death. 55 - 65 11.2 13.8 25.0 Benefits at departure Art. 23 - Art. 26 Supplementary contribution (Zb) in % of Savings capital: In the event of departure, pensionable annual salary: the savings capital pursuant to Art. 9 be- Age Employ- Employ- Total comes due. ee er Spb Promotion of home ownership Art. 30 18 - 65 1.4 2.1 3.5 Advance withdrawal or pledge of pension benefits for the acquisition or construction Retirement benefits Art. 11 - Art. 14 of residential property for the insured per- Early retirement from age 58 or deferred re- son's own use. tirement to age 70. Retirement capital or retirement pension. The conversion of the retirement capital

Pension fund regulations 01 January 2021 UPC (Switzerland) Pension Fund Table of contents

Table of contents

A. General provisions 1 Art. 1 Name and purpose 1 Art. 2 Insured persons, conditions of admission 1 Art. 3 Medical examination, health restrictions 3 Art. 4 Age, retirement age 3 Art. 5 Start and end of insurance 4 Art. 6 Voluntary continued insurance following termination of employment after the age of 58 4 Art. 7 Pensionable annual salary 5

B. Funding 7 Art. 8 Contributions 7 Art. 9 Savings capital and special savings accounts 8 Art. 10 Entry lump sum, purchase of additional benefits 9

C. Retirement benefits 10 Art. 11 Retirement pension 10 Art. 12 Lump-sum withdrawal of retirement benefits 11 Art. 13 AHV bridging pension 11 Art. 14 Retired person's child's pension 12

D. Disability benefits 13 Art. 15 Disability pension 13 Art. 16 Disabled person's child's pension 14 Art. 17 IV substitute pension 14

E. Benefits in the event of death 15 Art. 18 Surviving spouse's pension 15 Art. 19 Life partner's pension 16 Art. 20 Pension for divorced spouses 18 Art. 21 Orphan's pension 18 Art. 22 Lump-sum death benefit 19

F. Termination benefits 20 Art. 23 Vested benefits 20 Art. 24 Amount of termination benefit 20 Art. 25 Use of the vested benefits 21 Art. 26 Occurrence of an insured event after departure 21

G. Divorce 22 Art. 27 General provisions on pension compensation 22 Art. 28 Pension compensation before retirement age 23 Art. 29 Pension compensation for recipients of retirement pensions, divorce pensions 23

Pension fund regulations 01 January 2021 Table of contents UPC (Switzerland) Pension Fund

H. Financing residential property 24 Art. 30 Advance withdrawal or pledge to finance residential property 24

I. Further provisions governing the benefits 25 Art. 31 Coordination of pension benefits 25 Art. 32 Right of recourse and subrogation 26 Art. 33 Duty of advance payments, reclamation and hardship cases 26 Art. 34 Assignment, pledge and offsetting 27 Art. 35 Adjustment of current pensions in line with inflation 27 Art. 36 Joint provisions 27 Art. 37 Limitation of liability 28 Art. 38 Partial or total liquidation 28

J. Organisation, administration and control 29 Art. 39 Board of Trustees 29 Art. 40 Administrative office, financial year 30 Art. 41 Auditor, pension actuary 30 Art. 42 Duty of notification and information 30 Art. 43 Duty of confidentiality 31 Art. 44 Financial equilibrium, financial restructuring measures 31

K. Transitional and final provisions 33 Art. 45 Entry into force, amendments 33 Art. 46 Gaps in the regulations, disputes 33 Art. 47 Transitional provisions 33

L. Abbreviations and terminology 35

M. Annexes to the pension fund regulations 37

Annex 1 Amount of contributions Annex 2 Purchase of additional benefits Annex 3 Purchase to compensate for the effects of early retirement Annex 4 Purchase of AHV bridging pension Annex 5 Threshold rates, conversion and interest rates Annex 6 Application for lump-sum withdrawal of retirement pension Annex 7 Declaration regarding distribution of the lump sum payable at death Annex 8 Notification of a life partnership

Pension fund regulations 01 January 2021 UPC (Switzerland) Pension Fund General provisions

A. General provisions

Art. 1 Name and purpose

Purpose 1 Under the name UPC (Switzerland) Pension Fund a Foundation exists, the purpose of which is to protect the employees of UPC Switzerland GmbH and those companies with which the Foundation has signed an affiliation agreement, as well as their dependants and survivors, against the financial consequences of old age, death and disability in accordance with the provisions of these regulations and the Swiss Federal Law on Occupational Re- tirement, Survivors' and Disability Pension Plans (BVG).

Pension Fund 2 The Foundation manages a pension fund. The rights and obligations of the beneficiaries of the pension fund and of the employer are governed by these regulations.

Structure 3 The pension fund is divided into pre-insurance and main insurance components. The pre-insurance component is solely a risk insurance component that covers the risks of death and disability before the age of 20. The main insurance component begins from the age of 20 and comprises: a. a savings component managed by the pension fund; b. insurance against the risks of death and disability.

Registration pur- 4 The Foundation provides mandatory employee benefits insurance and is suant to the BVG therefore entered in the register of occupational pension providers pursuant to Art. 48 BVG. It provides the benefits pursuant to the BVG as a minimum. The pension fund is subject to supervision by the Canton of Zurich.

Security Fund 5 The pension fund is affiliated with the Security Fund in accordance with Art. 57 BVG and finances the Security Fund with an annual contribution as determined by the Federal Council.

Reinsurance 6 The Foundation can reinsure the benefits in whole or in part with a life insurance company subject to supervision by the insurance supervisory authority in Switzerland.

Art. 2 Insured persons, conditions of admission

Group of insured 1 All the employees of UPC Switzerland LLC and of the companies with which persons the pension fund has signed an affiliation agreement must become members of the pension fund if they have an annual salary that exceeds the entry threshold of 6/8 of the maximum AHV retirement pension (see Annex 5). Para. 2 is reserved. The entry threshold is adjusted for part-time and partially disabled members of staff by the relevant reduction in the level of employment and/or the level of earning capacity.

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Exemptions 2 The following individuals are not admitted to the pension fund: a. Employees who have not yet completed their 17th year of age; b. Employees who have already reached or exceeded the retirement age (Art. 4); c. Employees whose employment contract was concluded for a maximum period of three months. If the employment relationship is extended for a period of more than three months, the employee is insured from the date on which the extension was agreed. If several consecutive employment relationships last longer than three months in total and there is no interruption of more than three months, the employee shall be insured from the beginning of the fourth month; however, if it was agreed prior to the beginning of the employment relationship that the employment relationship/deployment would last longer than three months, the employee shall be insured from the beginning of the employment relationship; d. Employees who work part-time and already have mandatory insurance cover for their main profession or who are primarily self-employed; e. Employees who have been classified by the Disability Insurance (IV) as at least 70% disabled and persons whose insurance cover is provision- ally continued with the previous pension scheme pursuant to Art. 26a BVG; f. Employees who are not, or do not expect to be, permanently employed in Switzerland and who have adequate insurance cover abroad, provided they apply for exemption from joining the pension fund. This ex- ception does not apply for persons who, in accordance with the bilateral agreements and the European law on which they are based, are subject to social security according to Swiss legislation.

Amounts below 3 If the annual salary falls below the entry threshold and the insured person is the entry thresh- therefore no longer subject to mandatory insurance pursuant to these regula- old tions, the entitlement to benefits in accordance with these regulations shall cease. The pension fund shall continue to manage the savings capital pursuant to Art. 9 on a contribution-free basis for a maximum of two years. If an insured event occurs, the savings capital is paid out. Entitlement is governed mutatis mutandis by these regulations.

Voluntary insur- 4 The pension fund does not offer any voluntary insurance for part-time em- ance ployees for that part of the salary they receive from other employers. Exceptions may be made by the Board of Trustees on the basis of objective criteria.

External insur- 5 The pension fund does not continue any insurance for an employee whose ance employment was terminated without entitlement to a pension. Art. 6 is reserved.

Unpaid leave 6 In the case of unpaid leave, insurance continues unchanged if the contributions are fully paid during the period of leave, but for 12 months at the most. If, however, contributions are no longer paid, the insurance shall only continue for one month after the termination of contribution payments. After this period, the provisions of para. 3 apply.

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Art. 3 Medical examination, health restrictions

Medical exami- 1 After entering the employment relationship, all employees must make a dec- nation laration regarding their health using the form provided by the pension fund. Until this health declaration has been submitted, insurance coverage shall equal the benefits provided by the BVG. The pension fund may present this declaration to its appointed medical examiner for a medical opinion or, based on the information in the declaration, it may request a medical examination at the Founda- tion's expense. The insurance coverage for any additional services is definitive as soon as the pension fund has confirmed acceptance without reservations.

Conditional ac- 2 The pension fund may, based on the results of the health examination, apply ceptance a health reservation for the risk benefits. However, this may only apply for a maximum of five years from the date of enrolment with the pension fund. If an insured event should occur during the period of the health reservation, the reason for which was also the reason for the health reservation, the risk benefits to be paid by the pension fund are reduced for the rest of the insured person's life to the mandatory benefits pursuant to the BVG. The part of the vested benefits brought into the pension fund that exceeds the cash value of these risk benefits is also paid out..

Existing re- 3 No health proviso may be applied to the pension benefits financed with the strictions vested benefits brought into the pension fund unless such a proviso had already been applied by the previous pension scheme. For this proviso, the period that elapsed in the previous pension scheme must be deducted.

Existing ailments 4 If an insured event occurs prior to the medical examination, the pension fund is entitled to limit any risk benefits to the BVG minimum benefits if the event results from illnesses or the consequences of accidents from which the employee already suffered before commencing employment or to which he/she is susceptible due to former ailments as well as for existing ailments and infirmi- ties.

Pre-existing inca- 5 If an employee is not fully capable of working before or upon being admitted pacity for work to the pension fund, but is not disabled as defined by the BVG, and if the cause of this incapacity for work leads to disability or death within the relevant period as defined by the BVG, there is no entitlement to risk benefits under these regulations. If the employee was insured with another pension fund when he became incapable of working, the other pension fund is responsible for providing the relevant benefits.

Violation of the 1 If an insured person violates their duty of notification by failing to disclose, duty of notifica- incorrectly disclosing or only partially disclosing a pre-existing health impairment tion of which they were aware or should have been aware, the pension fund is entitled, within six months of becoming aware of the violation of the duty of notification, to refuse future benefits and to demand repayment of the benefits already paid out plus interest and/or to limit the benefits to just the statutory benefits.

Art. 4 Age, retirement age

Age 1 The insured person's age is the difference between the current calendar year and the year of birth.

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Retirement age 2 Retirement age is reached on the first day of the month after completing the 65th year of age (men) and the 64th year of age (women). Early or deferred retirement is possible.

Age at purchase 3 The relevant date for the calculation of a purchase equals the difference be- and atretirement tween the year of the purchase and the date of birth. The relevant age to determine the conversion rate is calculated exactly based on year and month. How- ever, the days from the person’s birthday until the first day of the following month are ignored.

Art. 5 Start and end of insurance

Start 1 Provided that the conditions for enrolment pursuant to Art. 2 have been fulfilled, the insurance starts on the day on which the employment relationship begins or the claim to a salary first arises, in any case when the employee leaves for work.

End 2 Insurance coverage ends with the termination of the employment relationship or once the entry threshold pursuant to Art. 2 para. 1 is no longer reached, insofar as there is no entitlement to benefits. The claims of the departing insured are governed by Art. 23 to Art. 26.

Admission 3 Employees are enrolled for the pre-insurance on 1 January of the year following their 17th year of age and for the main insurance on 1 January of the year following their 19th year of age.

Extended cover 4 The insured person remains covered for the risks of death and disability for one month following the termination of the pension relationship. If he enters a new pension relationship within this period, the new pension fund is responsible for the payment of benefits.

Art. 6 Voluntary continued insurance following termination of employment after the age of 58

Conditions 1 Insured persons who leave the mandatory insurance after the age of 58 because the employment relationship was terminated by the employer can apply for the continuation of the full employee benefits insurance cover (retirement savings according to the "Standard" savings plan and risk insurance) or the risk insurance only. The application for the continuation of cover must be submitted in writing to the management office one month after the end of the employment relationship at the latest. The insured person must submit proof that the employment relationship was terminated by the employer. 2 Pensionable The pensionable annual salary at the time of the termination of the employ- annual salary ment relationship shall apply for the continued insurance. However, the insured person can insure a salary lower than the current annual salary or reduce the pensionable annual salary a maximum of two times during the period of continued insurance cover. The following options are available:

a. 100% of the current pensionable annual salary; b. 50% of the current pensionable annual salary; c. Minimum pensionable salary according to the entry threshold (Art. 2 para. Error! Reference source not found.).

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Contributions 3 The insured person must pay all the regulatory employee and employer contributions, except for any employer restructuring contributions pursuant to Art. 44.

Retirement sav- 4 The insured person can apply to suspend or resume the retirement savings ings (payment of according to the "Standard" savings plan as of 1 January every year. The retire- savings contribu- ment savings plan selected will continue to apply for the following year unless tions) the pension fund is informed otherwise in writing by 30 November at the latest.

Joining a new 5 Upon joining a new pension scheme, the termination benefit is transferred to pension scheme the new pension scheme to the extent that it can be used to buy the full regulatory benefits. The balances of the special savings accounts are reduced first, followed by the savings capital. The BVG retirement assets are reduced in proportion to the withdrawal of the full savings capital (including the balances of the special savings accounts). If at least one-third of the termination benefit remains, the insurance is continued. The pensionable annual salary at the time of the termination of the employment relationship is reduced proportionally to the termination benefit that is transferred. Para. 6 applies in all other respects.

End 6 The continued insurance comes to an end: a. upon the request of the insured person (as per the end of the month); b. with the occurrence of an insurance case; c. upon entry in a new pension scheme if more than two-thirds of the termination benefit is required for the purchase of the full regulatory benefits; d. in the event of the contributions no longer being paid, at the end of the month for which the last contribution was paid; e. at the latest, upon reaching retirement age. As a rule, retirement benefits fall due when continued insurance cover ends.

Restrictions 7 If continued insurance cover has lasted for more than two years, the retirement benefits must be drawn in the form of a pension pursuant to these regulations and the termination benefit can no longer be withdrawn in advance or pledged to finance residential property for own use.

Voluntary pur- 8 The purchase of additional benefits pursuant to Art. 10 remains possible, chase even if only the risk insurance is continued.

Art. 7 Pensionable annual salary

Annual salary 1 The annual salary equals the registered annual salary (target income excl. expenses). Salary elements that occur only occasionally, such as shift allowances, service anniversary gifts and special bonuses, are not included.

Coordination off- 2 The coordination offset equals 30% of the annual salary, but 7/8 of the max- set imum AHV retirement pension at most (see Annex 5).

Pensionable an- 3 The pensionable annual salary equals that part of the annual salary that ex- nual salary ceeds the coordination offset.

Maximum/ 4 The pensionable annual salary is capped. It equals at least 1/8 of the maxi- Minimum mum AHV retirement pension. It is limited to 7.5 times the amount of the maximum AHV retirement pension (see Annex 5).

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Enrolment during 5 The annual salary is determined for the full year. If employment is started the year during the year, it is annualised.

Salary adjust- 6 The annual salary is adjusted to the current situation on 1 April, whereby any ments changes agreed for the current year must be taken into account. No adjustments are made for individuals who are fully incapable of working or fully disabled. If an insured event occurs, any incorrect adjustments are reversed. In the event of substantial increases in the pensionable annual salary Art. 3 may be applied mutatis mutandis.

Adjustments to 7 In the case of part-time and partially disabled employees, the maximum sal- threshold ary and the coordination offset are adjusted by a corresponding reduction in the amounts level of employment and/or earning capacity.

Vested rights 8 Insured persons whose annual salary is reduced by at most half after the from age 58 58th year of age can request in writing that their previous pensionable annual salary should be retained until retirement age. The insured person must also pay the employer savings contribution for the continued insurance of this part of the salary. The further insurance of the previous pensionable annual salary is not possible if the insured person already receives retirement benefits from the pension fund (partial retirement).

Salary adjust- 9 If an insured person is declared disabled, benefits are generally divided ac- ment in the event cording to the pension scale pursuant to Art. 15 para. 4 into a disability (passive) of disability portion, for which no salary adjustments are made, and an active part in line with the degree of earning capacity, for which salary adjustments pursuant to the provisions of this Article are possible.

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B. Funding

Art. 8 Contributions

Start of obligation 1 The obligation of the employer and the insured person to pay contributions to pay contribu- starts upon enrolment with the pension fund. tions

End of obligation 2 The obligation to pay contributions ends: to pay contribu- a. upon leaving the pension fund, tions b. when all retirement benefits fall due, c. at the end of the month of death, d. upon termination of the continued payment of the salary or the expiry of the daily benefits, at the latest, however, upon reaching retirement age.

Total contribution 3 The total contribution is made up of both of the following components: a. savings contribution, b. supplementary contribution

Savings contribu- 4 The savings capital is accrued from the savings contributions. tion

Supplementary 5 The supplementary contributions are used to finance: contribution a. death and disability, b. contributions to the security fund, c. administrative and other costs. The supplementary contribution is not refunded upon termination of the employment relationship.

Contribution 6 The level of contributions for the employer and the insured person are deter- amounts mined in Annex 1. The insured person can decide between the "Standard" and "Maxi" savings contributions once a year on 1 January. The insured person must inform the pension fund of this by 30 November of the preceding year at the latest.

Salary reduction 7 In the case of the continued insurance of the previous pensionable annual from age 58 salary following a salary reduction after age 58 (see Art. 6 para. 8), the additional savings and supplementary contributions as well as any restructuring contributions pursuant to Art. 44 para. 4 are debited from the employee.

Salary deduc- 8 The employer is liable to the pension fund for the total contributions. The tions employer must deduct the insured person's contribution from his salary. The contributions are paid on a monthly basis. If the employer is in arrears, the pension fund will charge an appropriate default interest.

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9 Waiver of contri- If an insured person is incapable of gainful employment due to sickness or butions accident for an uninterrupted period of three months, the contributions of the insured person and the employer shall be reduced from the fourth month - but upon termination of the continued payment of full salary at the earliest - in accordance with the level of disability that applies for the calculation of the disability pension. The savings contributions for the waiver of contributions are calculated based on the "Standard" savings plan.

Art. 9 Savings capital and special savings accounts

Savings account 1 A savings account is managed for each insured person.

Accrual of sav- 2 The following is credited to the savings capital: ings capital a. the savings contributions, b. the benefits brought into the pension scheme, c. repayments in the context of the promotion of home ownership, d. compensation payments received following divorce, e. any purchase sums, and f. interest. The savings capital is debited with: a. early withdrawals in the context of the promotion of home ownership, b. compensation payments made following divorce. The total of these sums equals the savings capital.

Special savings 3 Amounts earmarked for the purchase of early retirement or an AHV bridging accounts pension are credited to a separate special savings account. For these accounts, para. 2 applies mutatis mutandis.

Interest rate 4 The interest rate for the business year just ended is determined annually by the Board of Trustees based on the financial situation. The Board of Trustees also determines the interest rate for pro rata payments (insured events) during the current financial year.

Interest 5 The interest is calculated based on the balance of the accounts as per the end of the previous year and credited at the end of the calendar year.

Pro rata interest 6 If a vested benefit was paid in or a purchase made, if an insured event occurred, if lump-sum benefits for the financing of home ownership or due to divorce are paid or if the insured person leaves the pension fund during the year, the interest for the relevant year is calculated pro rata temporis.

Savings capital in 7 The savings account is divided according to the pension scale pursuant to the event of disa- Art. 15 para. 4 into a disabled (passive) part and an active part. bility

BVG retirement 8 The pension fund shall determine how high the share of the retirement assets assets pursuant to the BVG is in relation to the whole savings capital in accordance with para. 2 and 3. The BVG retirement assets earn interest at the minimum interest rate pursuant to Art. 12 BVG.

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Art. 10 Entry lump sum, purchase of additional benefits

Vested benefits 1 Termination benefits from other pension schemes, including funds from brought into the vested benefit accounts and/or safekeeping accounts or vested benefit policies, pension fund must be brought into the pension fund as transfers. The full amount is credited to the savings account as per the transfer date. The pension fund is entitled to request a confirmation by the insured person that all vested benefits have been transferred.

Purchase of 2 An insured person who is capable of working and whose savings capital does maximum bene- not amount to the maximum benefits can purchase additional pension benefits fits at any time prior to the occurrence of an insured event, subject to para. 7 et seq. and taking into account any assets from previous pension relationships and any pillar 3a assets pursuant to Art. 60a of the Ordinance on Occupational Retire- ment, Survivors' and Disability Pension Plans (BVV 2). The calculation of the possible purchase amount can be found in Annex 2.

Purchase for 3 If an actively insured person has purchased all the missing pension benefits early retirement pursuant to para. 2, he/she may additionally make purchases to cover the pension reduction in the event of early retirement pursuant to Annex 3. In the event of a further purchase at a later date, the proposed purchases (incl. interest) will be taken into account. In order to cover the full reduction in pension benefits for a proposed retirement age, the accrued savings capital must be constantly checked against the relevant value in the table and the current pensionable annual salary and further purchases made if necessary. A separate account is managed for the purchase of these pension provisions.

Continued em- 4 If the retirement pension, including any savings capital for the purchase to ployment follow- compensate for early retirement, exceeds the insured retirement pension from ing purchase for the savings capital by more than 5 percent at retirement age, the following early retirement measures come into force: a. The employee and the employer no longer pay any contributions, apart from supplementary contributions pursuant to Art. 8 para. 5 and contributions for financial restructuring pursuant to Art. 44 para. 4a. b. The conversion rate valid at this point is frozen. In the event of the permanent termination of the employment relationship, the retirement pension that is due is calculated using this frozen conversion rate. c. All accounts cease to earn interest. If the benefit target is exceeded due to changes to the level of employment or deposits due to divorce, the excess must be taken into account accordingly. The insured retirement pension at retirement age is determined by the maximum pensionable salary for the last five years.

Purchase of 5 An insured person has the option of pre-financing all or part of an AHV bridg- AHV bridging ing pension in accordance with the table in Annex 4. The AHV bridging pension pension is paid from the retirement age that applies for the pre-financing, even if the insured person continues to work past this retirement age.

Tax 6 The insured person must verify with the relevant authorities whether the vol- deductibility untary purchase according to para. 2, 3, and 5 may be offset against tax.

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Restrictions 7 If purchases have been made, the resulting benefits may not be withdrawn as a lump sum in the following three years. If advance withdrawals were made to finance residential property, voluntary purchases may only be made once these advance withdrawals have been repaid. Insured persons who have made advance withdrawals for the purchase of residential property may make voluntary purchases from the time their entitlement to retirement benefits arises, provided that the purchase, together with the said advance withdrawals, does not exceed the maximum permissible benefits spec- ified by the regulations.

Persons from 8 Persons coming from abroad who have never before belonged to a pension abroad fund in Switzerland may not purchase benefits for more than 20% of their pensionable salary during the first five years following enrolment.

Employer contri- 9 The employer can contribute to a purchase. bution C. Retirement benefits

Art. 11 Retirement pension

Entitlement 1 Upon reaching retirement age, the insured person is entitled to a lifelong retirement pension.

Ratio 2 The amount of the annual retirement pension is determined by the accrued savings capital converted by the relevant conversion rate pursuant to Annex 5. Any accrued additional savings assets can also be drawn in the form of a retirement pension once it has been converted with the same conversion rate.

Early retirement 3 Early retirement is possible from the first of the month following completion of the 58th year of age. In the event of early retirement, the insured person receives a pension from the pension fund from the date of termination of the employment relationship.

Reduction of re- 4 The amount of the retirement pension at early retirement equals the savings tirement pension capital multiplied by the conversion rate pursuant to Annex 5 plus the savings in the "Purchase to compensate for the effects of early retirement" special savings account at the time of early retirement.

Semi-retirement 5 If the insured person partially retires from employment within the period of early retirement, he/she may request a corresponding partial retirement if his/her relevant annual salary is reduced by at least one third.

Deferred retire- 6 If an insured person remains in an employment relationship beyond the ment standard age of retirement with the agreement of his/her employer, he/she may either withdraw his/her pension instalments as cash or return them to his/her savings account in the pension fund where they will earn interest. These deferred pension payments plus interest are paid out as a separate lump sum upon the definitive termination of the employment relationship, at age 70 at the latest.

Disability and re- 7 If an insured person becomes disabled after early retirement or partial retire- tirement ment, there is no entitlement to disability income and retirement benefits are triggered. During the period of deferred retirement no disability benefits are paid. If the insured person becomes disabled during this period, retirement benefits become due.

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Death during de- 8 In the event of death during deferred retirement, unclaimed retirement pen- ferred retirement sions are treated as a lump-sum death benefit pursuant to Art. 22.

Requirements for 9 In the event of the deferment of the total retirement benefits, the annual sal- deferred retire- ary must comprise at least two thirds of the annual salary that the insured person ment would have drawn at retirement age. In the event of the deferment of half the retirement benefits, this must equal at least one third.

Art. 12 Lump-sum withdrawal of retirement benefits

Lump-sum with- 1 The insured person can withdraw all or part of their savings capital including drawal any special savings capital or parts thereof in cash instead of drawing a retirement pension. Such a lump-sum withdrawal results in a corresponding reduction in the retirement pension and the co-insured benefits. A corresponding amount of claims vis-à-vis the pension fund is deemed to have been discharged with the withdrawal of the retirement capital.

Written declara- 2 A corresponding written application (see Annex 6) must be submitted no later tion than three months before the insured person reaches retirement age or three months before the date of any early or deferred retirement. Such an application is irrevocable.

Spouse's con- 3 If the insured person is married, the application is valid only with the written sent consent of the spouse. The pension fund is entitled to request a notarised authentication or any other verification of the signature.

Restrictions 4 A lump-sum withdrawal for recipients of a disability pension is only possible if the insured person had applied to withdraw the lump sum in writing before the occurrence of the incapacity for work that led to the disability.

Art. 13 AHV bridging pension

Entitlement 1 Insured persons who take early retirement are granted an AHV bridging pension equalling the maximum AHV retirement pension on request, which com- pensates for the missing AHV retirement benefits.

Start / end 2 The AHV bridging pension is paid out at the retirement age relevant for the pre-financing. It ceases once the duration determined pursuant to para. 3 has ended or if the insured person dies. In the event of the death of the recipient of an AHV substitute pension, the pension is capitalised for the remainder of the term and paid out as a lump-sum death benefit pursuant to Art. 22.

Amount, duration 3 The amount and duration of the AHV bridging pension can be determined by and financing the insured person himself/herself. The AHV bridging pension equals at most the amount of the maximum AHV retirement pension at the time of the early retirement and is paid until the normal AHV retirement age is reached at most. It is financed via a life-long reduction in the retirement pension or with funds from the special savings account "Purchase of AHV bridging pension".

Semi-retirement 4 In the event of semi-retirement, the AHV bridging pension, possibly already reduced pursuant to para. 1 and 3, is reduced proportionally to correspond with the level of retirement.

Adjustment 5 The AHV bridging pension is not increased following any increase in the AHV retirement pension.

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Art. 14 Retired person's child's pension

Entitlement 1 Recipients of a retirement pension are entitled to a retired person's child's pension for every child that would be entitled to an orphan's pension pursuant to Art. 21 upon their death.

Start / end 2 The retired person's child's pension is paid from the same date as the retirement pension. It expires when the underlying retirement pension ceases, but at the latest once the entitlement pursuant to para. 1 ends.

Ratio 3 The annual retired person's child's pension equals 20% of the current retirement pension for each entitled child. The retired person's child's pension is reduced proportionally as soon as it equals more than 40% of the current retirement pension.

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D. Disability benefits

Art. 15 Disability pension

Entitlement 1 Insured persons who are at least 40% disabled as defined by the IV are entitled to a disability pension, provided that they were insured in the pension fund when the incapacity for work, the cause of which led to disability, occurred.

Advance 2 The Board of Trustees can grant a disability pension before the insured per- payment son has received any benefits from the IV based on the report by its official medical examiner. The prerequisite is that the disability should already have been reported to the IV. Once the continued payment of salary has ceased or all entitlement to any daily allowances from the loss of earnings insurance has expired, the disability pension is paid for a maximum of two years. If there is no decision by the IV at the end of these two years, the insured person must repay all the pension benefits.

Level of disability 3 The level of disability equals the disability level applied by the IV. With regard to the extra-mandatory part of the disability pension, the Board of Trustees may deviate from the decision of the IV, provided that the pension fund's appointed medical examiner supports this adjustment with a medical opinion.

Pension scale 4 If the level of disability is 70% or more, the full disability pension is paid. If the level of disability is at least 60%, the insured person is entitled to a three- quarter pension, if it is at least 50%, a half pension, and if it is at least 40%, a quarter pension. There is no entitlement to a disability pension for a level of disability of less than 40%.

Start 5 The disability pension is paid from the beginning of the payment of the IV pension, but after the termination of the continued payment of salary or the expiry of any daily allowance from the loss of earnings insurance at the earliest.

End 6 The disability pension is paid during the period of earning incapacity, at the most, however, until normal retirement age is reached or until death.

Ratio 7 In the event of full disability, the annual disability pension equals the projected retirement capital comprising the retirement assets at the start of the disability and the future retirement credits (excl. interest) pursuant to the "Stand- ard" savings plan. The projected retirement capital is converted into a pension using the conversion rate pursuant to the regulations. This equals a maximum of 60% of the pensionable annual salary. If the insured person has been insured with the pension fund for more than two years when the incapacity for work resulting in the disability occurs, the annual disability pension equals 60% of the pensionable annual salary. For insured persons who were already insured with the pension fund before 1 September 2008, the annual disability pension equals 60% of the pensionable annual salary.

Congenital de- 8 If at the beginning of insurance with the pension fund a person is at least formity 20% but less than 40% incapable for work due to a congenital deformity or a disability that occurred when they were a minor, there is an entitlement to disability benefits based on these causes of the incapacity for work only if the incapacity for work increased to more than 40% during the period of insurance and the person was insured to at least 40%.

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Special savings 9 In the event of anticipated long-term full disability, the insured person is en- account assets titled to the assets accrued in the special savings accounts "Purchase to compensate for the effects of early retirement" and "Purchase of an AHV bridging loan" at the time of the full disability. In the event of partial disability, all the assets in the special savings accounts "Purchase to compensate for the effects of early retirement" and "Purchase of an AHV bridging loan" earn interest until they mature at retirement.

Art. 16 Disabled person's child's pension

Entitlement Recipients of a disability pension are entitled to a disabled person's child's pension for every child who would be entitled to an orphan's pension pursuant to Art. 21 in the event of their death.

Start / end 2 The disabled person's child's pension is paid from the same date as the disability pension. It expires when the underlying disability pension ends, at the latest, however, when the entitlement according to para. 1 no longer exists.

Ratio 3 The annual fully disabled person's child's pension equals 20% of the current disability pension for each entitled child. In the case of partial disability, the amount of the disabled person's child's pension is determined pursuant to Art. 15 para. 4.

Art. 17 IV substitute pension

Entitlement 1 If the recipient of a disability pension from the pension fund is not yet in receipt of an IV disability pension, the pension fund can pay him/her an IV substitute pension equal to the anticipated IV pension, which is then offset against any IV pension.

Start / end 2 The IV substitute pension is paid for a maximum of two years. If there is no decision by the IV at the end of these two years, the insured person must repay all the IV substitute pension benefits.

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E. Benefits in the event of death

Art. 18 Surviving spouse's pension

Entitlement 1 If the deceased insured person was insured or in receipt of a retirement or disability pension from the pension fund at the time of death or at the time of the occurrence of the incapacity for work the reason for which led to death, the surviving spouse is entitled to a spouse's pension, insofar as at the time of death he/she: a. is responsible for the upkeep of one or more children who are entitled to an orphan's pension, or b. has completed his/her 40th year of age and the marriage has lasted at least three years.

Settlement 2 If the spouse does not fulfil any of these requirements, he/she is entitled to a settlement equalling three annual spouse's pensions.

Start / end 3 The entitlement to a surviving spouse's pension starts in the first month in which the salary or the pension of the deceased insured person is no longer paid. It expires with the death of the surviving spouse.

Ratio 4 The annual surviving spouse's pension for life equals 40% of the pensionable salary upon the death of the insured person before retirement age. In the event of the death of a recipient of a retirement pension, the spouse's pension equals 60% of the current retirement pension.

Increase 5 Before the first payment of the retirement pension, the insured may increase the spouse's prospective pension. The retirement pension is therefore reduced for life based on the technical bases of the Foundation. The increased spouse's pension may not be higher than the reduced retirement pension. The notification period is three months. The notification must be made in writing. This reduction only affects the retirement pension and it remains in force even if the spouse dies before the recipient of the retirement pension.

Surviving 6 If part of the retirement pension was withdrawn as a lump sum upon reaching spouse's pension retirement age, a corresponding surviving spouse's pension falls due only for in the event of the remaining part of the pension. lump-sum withdrawal of the retirement pension

Lump-sum pay- 7 The spouse's pension may also be withdrawn as a lump sum. The capital ment of surviving value equals the actuarial cash value, but the value of the accrued savings cap- spouse's pension ital at most. The surviving spouse must submit the corresponding application to the Board of Trustees within 6 months after the start of the entitlement. Pensions already paid are taken into account in the case of a lump-sum withdrawal. With the withdrawal of the lump sum, all regulatory claims – except for the claim for orphan’s pensions – are deemed to have been discharged.

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Reductions in 8 If the surviving spouse is more than ten years younger than the insured per- pensions son, the spouse's pension is reduced by 1.5% of the full spouse's pension for every full or partial year exceeding the age difference of ten years, but by 50% at most. If the marriage takes place after retirement age, the spouse's pension is reduced as follows: a. marriage during the insured person's 66th year of age: by 20% b. marriage during the insured person's 67th year of age: by 40% c. marriage during the insured person's 68th year of age: by 60% d. marriage during the insured person's 69th year of age: by 80% If the marriage takes place after the insured person's 69th year of age there is no entitlement to a spouse's pension.

Minimum bene- 9 Entitlement to a spouse's pension in accordance with the BVG is guaranteed fits in every case.

Remarriage 10 If the spouse remarries, the spouse's pension expires and there is an entitlement to a lump-sum settlement equalling three annual pensions.

Congenital de- 11 If at the beginning of the insurance with the pension fund a person is at least formity 20% but less than 40% incapable for work due to a congenital deformity or a disability that occurred when they were a minor, there is an entitlement to a survivor's pension based on these causes of the incapacity for work only if the incapacity for work increased to more than 40% during the period of insurance and the person was insured to at least 40%.

Registered part- 12 A registered partnership is deemed the same as a marriage pursuant to the nership Swiss Federal Law on the Registration of Partnerships for Same-Sex Couples. The provisions of these regulations relating to spouses therefore apply equally for insured persons living in a registered partnership.

Art. 19 Life partner's pension

Entitlement 1 Pursuant to the same requirements and reduction provisions as for the spouse's pension, the designated life partner of the insured person (same or opposite sex) is entitled to a survivor's pension equal to the spouse's pension or the single settlement, if: a. the insured person and the beneficiary are unmarried and there are no legal reasons (Art. 96 et seq. Swiss Civil Code), excepting the fact that they are of the same sex, why they should not have married, b. the life partner maintained a demonstrably fixed and exclusive relationship as a couple with the deceased insured person and maintained a joint household with him/her for at least five years immediately prior to the insured person's death and the insured person informed the pension fund in writing prior to his/her death of the entitled life partner (see Annex 8)

or the life partner was responsible for the support of one or more joint children whilst living in the same household with the insured person, c. and the beneficiary is not in receipt of any spouse's or life partner's pension from the employee benefits insurance.

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Conditions 2 The insured person or the beneficiary must submit the documents required for clarification. The application for a life partner's pension must be submitted three months following the death of the insured person at the latest. In the event of a claim, the Board of Trustees establishes finally whether the requirements for a life partner's pension have been fulfilled.

Death of pension 3 In the event of the death of a pension recipient, there is an entitlement to a recipient life partner's pension only if the partnership was entered into before the 60th year of age.

End 4 The life partner's pension ends if the pension recipient marries, enters a new life partnership or dies.

Settlement 5 If the life partner does not fulfil all the requirements for a life partner's pension pursuant to Art. 19 para. 1, but the partnership lasted at least five years, he/she is entitled to a settlement equal to three annual spouse's pensions.

Calculation of 6 The duration of a partnership that has already been registered pursuant to years para. 1 is calculated in the same way as the duration of a marriage pursuant to the requirements for entitlement as set out in Art. 18.

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Art. 20 Pension for divorced spouses

Entitlement 1 Subject to para. 2, the divorced spouse is entitled to a spouse's pension equalling the BVG statutory benefits if: a. he/she was granted a pension or lump-sum settlement to finance a lifelong pension in the divorce decree and b. the marriage lasted at least 10 years.

Reduction 2 The benefits are reduced by the amount that they, together with the benefits from other insurance schemes, in particular the AHV and IV, exceed the entitlement granted in the divorce decree. The benefits from the AHV are taken into account in this only insofar as they are higher than the entitlement to a disability pension from the IV or a retirement pension from the AHV.

Remarriage, 3 If the spouse entitled to a pension remarries or dies, his/her entitlement vis- death à-vis the pension fund expires. The entitlement pursuant to the BVG is guaranteed in every case.

Art. 21 Orphan's pension

Entitlement 1 The children of a deceased insured person or a pension recipient are entitled to an orphan's pension; this applies to foster children only if the deceased insured person can be proved to have been responsible for their support.

Start / end 2 Entitlement starts upon the death of the insured person, at the earliest, however, upon termination of the continued payment of salary. It expires upon the orphan's death or completion of his/her 20th year of age.

Special cases 3 Orphan's pensions are also paid out after completion of the 20th year of age, but at the latest until completion of the 25th year of age: a. to children who are still in education; b. to disabled children who are disabled at completion of their 20th year of age, until earning capacity is achieved. The pension to which the disabled child has a claim is calculated on the basis of the child's level of disability (same scale as in Art. 15 para. 3). If the child is permanently disabled, the Board of Trustees decides on any further pension payments.

Ratio 4 The annual orphan's pension equals 20% of the insured or current disability pension or 20% of the current retirement pension for each entitled child. In the case of full orphans, the pension is doubled.

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Art. 22 Lump-sum death benefit

Entitlement 1 If an active insured person dies before drawing a retirement or disability pension, there is an entitlement to a lump-sum death benefit.

Order of benefi- 2 The survivors are eligible according to the following ranking, independent of ciaries inheritance law: a. the spouse and children and/or foster children of the deceased person who are entitled to an orphan's pension pursuant to Art. 20; in the absence of whom b. natural persons who were supported to a significant degree by the insured person at the time of his/her death or the person with whom the insured deceased person had been living in a permanent marriage-like relationship during the last five years or who is responsible for the support of one or more joint children; in the absence of whom c. the children, insofar as they are not included under a; in the absence of whom Entitlement pursuant to b only applies if the insured person notified the fund management of the beneficiary in writing during his/her lifetime (see Annex 7).

Declaration 3 The insured person can specify in a written declaration for the attention of the pension fund (see Annex 7) which persons within the entitled group are to be beneficiaries and what proportion of the lump-sum death benefit they are entitled to.

Absence of a 4 If there is no written declaration by the insured person regarding the distribu- declaration tion of the lump-sum death benefit, said benefit shall be divided between the groups of beneficiaries according to the order set out under para. 2 as follows: In the case of several beneficiaries in group a: the spouse shall be allocated 50% and the remaining 50% shall be divided equally between the children and foster children of the deceased who are entitled to an orphan's pension pursuant to Art. 20. If there is no spouse, the full lump-sum death benefit shall be divided equally between the children and foster children of the deceased who are entitled to an orphan's pension pursuant to Art. 20. In the event of several beneficiaries in groups b to c: The benefit shall be divided equally. The ranking pursuant to para. 2 must be observed.

Ratio 5 The lump-sum death benefit is the savings capital on death. The lump sum payable at death is reduced by the present value of all pensions and settlements that are triggered by the death.

Special savings 6 Any special savings capital is paid out to all the groups of persons as an accounts additional lump-sum death benefit.

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F. Termination benefits

Art. 23 Vested benefits

Due date 1 If the pension relationship is terminated before an insured event has occurred and without any benefits under these regulations falling due, the insured person leaves the pension fund at the end of the last day for which there is an obligation to pay the salary and vested benefits become due.

Interest on ar- 2 The vested benefits earn interest at the BVG interest rate from the first day rears following the insured person's departure from the pension fund. If the pension fund does not transfer the vested benefits within 30 days after receiving the required instructions for the transfer, interest on arrears must be paid from the end of this period (see Annex 5).

Precedence of 3 If the insured person leaves after the age of 58, there is no entitlement to a retirement bene- termination benefit; instead, early retirement is triggered pursuant to Art. 11 un- fits less the insured person begins new employment and the termination benefit can be transferred to a new pension scheme or the insured person can prove that he/she is registered as unemployed.

Art. 24 Amount of termination benefit

Calculation meth- 1 The vested benefits are calculated pursuant to Art. 15, 17 and 18 FZG. The ods termination benefit equals the higher amount resulting from the comparison of the following methods of calculation.

Savings capital 2 Savings capital pursuant to Art. 15 FZG: The vested benefits equal the accrued savings capital at the date of departure pursuant to Art. 9 plus the special savings accounts pursuant to Art. 8, para. 4 to 6.

Minimum amount 3 Minimum amount pursuant to Art. 17 FZG: The termination benefit equals the total of: a. the vested termination benefits and any purchases plus interest. The interest rate is the same as the BVG interest rate; b. the savings contributions paid by the insured person including interest, plus a premium of 4% per year from the age of 20, up to a maximum of 100%. This excludes any additional savings contributions pursuant to Art. 8 para. 8. The interest rate is the same as the BVG interest rate (see Annex 5). Art. 44 para. 4 is reserved.

BVG retirement 4 BVG retirement assets pursuant to Art. 18 FZG: assets The termination benefit equals the accrued retirement assets as at the date of departure pursuant to the BVG.

Purchases by 5 The share of the purchase sum paid by the employer is deducted from the employer vested benefits upon departure. The deduction is reduced by a tenth of the amount paid for every contribution year. The unused portion is allocated to the employer contribution reserve.

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Art. 25 Use of the vested benefits

New pension 1 The vested benefits are transferred to the new employer's pension scheme. scheme

Vested benefits 2 Insured persons who do not join a new pension scheme must notify the pen- account/policy sion fund of the form in which they wish to receive pension protection: a. by opening a vested benefits account; b. by setting up a vested benefits policy.

Duty of notifica- 3 If the insured person does not notify the pension scheme of any preferences tion as to the treatment of his/her vested benefits, they are transferred to the Na- tional Substitute Pension Plan Foundation, plus interest, no sooner than six months and no later than two years after the vested benefits case occurred.

Payment in cash 4 At the request of the departing insured person, the vested benefits can be paid in cash, if: a. he/she is leaving Switzerland permanently; b. he/she takes up self-employment and is therefore no longer subject to the mandatory employee benefits insurance; c. the termination benefit is less than the insured member's annual contribution. Payment in cash pursuant to point a is not permitted if the insured person leaves Switzerland permanently and moves to Liechtenstein. Insured persons may not request a cash payment of the accrued BVG retirement assets if they remain subject to mandatory insurance for the risks of retirement, death and disability according to the statutory provisions of one of the member states of the Euro- pean Union or of Iceland or Norway.

Signature of 5 If the departing insured person is married, the cash payment is permissible spouse only with the written consent of the spouse. The pension fund is entitled to request a notarised authentication or any other verification of the signature.

Art. 26 Occurrence of an insured event after departure

Extended liability 1 If the pension fund has to pay survivors' or disability benefits after it has period transferred the vested benefits, the vested benefits must be repaid up to the amount of the survivors' or disability benefits to be paid.

Reduction 2 If this repayment is not made, the insured benefits are reduced accordingly.

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G. Divorce

Art. 27 General provisions on pension compensation

Pension 1 Based on a court order, the entitlement accrued in the employee benefits compensation; insurance during the marriage up until the instigation of divorce proceedings is compensated in the event of divorce. Basic principle

Receipt of funds 2 Insurance amounts granted to the entitled spouse due to divorce are treated from compensa- in the same way as a vested benefit brought into the pension scheme. The tion for divorce BVG share is credited to the BVG retirement assets in accordance with the details of the transferring pension scheme.

Transfer of funds 3 Pensions or lump-sum payments within the framework of the pension com- from compensa- pensation must be transferred to the pension scheme or vested benefits institution for divorce tion of the entitled spouse, insofar as he or she has not reached the earliest possible statutory age for retirement and also has no entitlement to a full IV pension. Otherwise, the entitled spouse can request that the transfer of the divorce pension (but not the one-off lump-sum settlement) should be made di- rectly to him or her.

Offset 4 Offsetting vested benefits that have been granted with granted pension units requires the prior agreement of the pension fund and of the insured person. The offsetting must not result in any or at most in only minimal losses for the pension fund. If there are any pension claims, these are settled before the offsetting. The amount of the difference granted is then converted into a lifelong divorce pension.

Repurchase, The obligated spouse may re-purchase benefits to replace the vested benefits BVG retirement transferred, taking into account the maximum possible purchase sum. If the assets transfer was made from the assets of a recipient of a disability pension, no repurchase is possible. In the case of a repurchase, the same proportion of the BVG retirement assets are credited as were transferred for the pension compensation.

Entitlement to 6 The entitlement to a child's pension that is valid at the time of the instigation child's pensions of divorce proceedings is not affected by the divorce compensation.

Deferred retire- 7 If the insured person has deferred retirement pursuant to Art. 4 para. 2 at the ment time of the instigation of divorce proceedings, the savings capital that is available at this time shall be used to calculate the vested benefits to be shared.

Retirement 8 If an insured person enters retirement during the divorce proceedings or if or reaching retire- the recipient of a disability pension reaches retirement age pursuant to Art. 4 ment age para. 2 during the divorce proceedings, the retirement pension will initially be during the di- calculated and paid out irrespective of the divorce proceedings. Once the divorce proceed- vorce proceedings have been concluded, the retirement pension will be reduced ings by the maximum pursuant to Art 19g para. 1 and 2 FZV. However, the pension fund can waive a reduction, if it deems this to be immaterial.

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Art. 28 Pension compensation before retirement age

Reduction 1 If, based on a court order, part of the vested benefits of an insured person or in savings capital part of the savings capital (active and passive part) of a recipient of a retirement and BVG retire- pension is to be transferred to the pension scheme of the entitled spouse, first ment assets the special savings capital and then the savings capital are reduced. The BVG retirement assets are reduced in the same proportion as the ratio of the vested benefits transferred to the savings capital as a whole (incl. the special savings capital).

Reduction 2 In the case of partially disabled insured persons, the savings capital that is in savings capital managed for the active part is reduced first of all. If this is not sufficient, the in the event of passive part is reduced by the remaining amount. partial disability

Coordinated 3 The active and passive part of the savings capital for a recipient of a disability disability pension pension, whose pension has been reduced because of the coordination of benefits from the accident or military insurance, can only be used for pension compensation if the disability pension without the entitlement to child's pensions would not suffer any reduction.

Art. 29 Pension compensation for recipients of retirement pensions, divorce pensions

Reduction in the 1 If the obligated spouse receives a retirement pension, the current retirement retirement pen- pension is reduced by the pension share awarded to the entitled spouse in the sion court order. Any retired person's child's pensions continue to be paid to the same amount.

Divorce pension 2 The pension share awarded to the entitled spouse is converted into a lifelong divorce pension pursuant to Art. 19h FZV when the divorce decree becomes legally valid. The transfer of the divorce pension to the pension scheme or vested benefits institution of the entitled spouse is carried out annually, as a rule in December, and by 15 December at the latest. Direct pension payments to the entitled spouse are generally made on a monthly basis.

Start and end of 3 The claim of the entitled spouse to the divorce pension arises immediately the divorce pen- the divorce decree becomes legally valid. It expires with the death of the entitled sion spouse without any further claim to any other benefits.

Lump-sum settle- 4 The divorce pension is paid to the eligible spouse in the form of a pension. If ment of the di- transfer to a pension fund or vested benefits institution is possible, the eligible vorce pension spouse can choose between a pension and a lump-sum payment. The divorce pension is capitalised in accordance with the pension fund's actuarial tables on the date on which the divorce decree takes legal effect. Any pension instalments that have already been paid are deducted from the lump-sum settlement. With the lump-sum settlement, all the claims of the eligible spouse vis-à-vis the pension fund expire..

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H. Financing residential property

Art. 30 Advance withdrawal or pledge to finance residential property

Advance with- 1 An active insured person is entitled to withdraw an amount (minimum CHF drawal or pledge 20,000) for owner-occupied residential property (purchase and construction of residential property, co-ownership investments in residential property or repayment of a mortgage) every five years up to three years before the insured person becomes entitled to retirement benefits. Owner-occupied means use by the insured person at his domicile or usual place of residence. The insured can also pledge this amount or his claim to pension benefits for the same purpose.

Ratio 2 The insured person may withdraw or pledge an amount equal to his/her vested benefits up until his/her 50th year of age. If the insured person has exceeded the age of 50, he/she may claim, at most, the amount he/she was entitled to at the age of 50, or half of the termination benefit at the time the funds are withdrawn.

Duty of infor- 3 Upon submission of a written request, the insured person may apply for in- mation formation on the amount available for the purchase of residential property and the reduction in benefits related to such a withdrawal. The pension fund advises the insured person on the options for closing the resulting gap in pension cover and the tax implications.

Documents 4 If the insured person makes use of the advance withdrawal or pledge, he/she must submit all the legal documents that are required to confirm the purchase or construction of the residential property, the co-ownership investment in residential property or the repayment of mortgage loans. In the case of married insured persons, written consent of the spouse is also required. The pension fund is entitled to request a notarised authentication or any other verification of the signature.

Voluntary repay- 5 The active insured person may repay the advance withdrawal in full or in part ment (minimum CHF 10,000) until the entitlement to retirement benefits arises. In the case of a repayment, the same proportion of the BVG retirement assets must be credited as were withdrawn for the early withdrawal (see para. 10 below).

Repayment obli- 6 If the residential property is sold or if a third party is granted rights to it, which gation are equivalent to the sale of the property, the advance withdrawal must be repaid by the insured person. The repayment obligation lapses upon the occurrence of a pension claim, when the claim to retirement benefits arises or the termination benefit is paid out in cash pursuant to Error! Reference source not found. para. Error! Reference source not found..

Priorities 7 If the pension fund's liquidity is at risk due to advance withdrawals, the pension fund may postpone the processing of applications. In such a case, the administrative office determines the order of priority for dealing with the applications.

Funding defi- 8 In the case of an actuarial deficiency, the pension fund may postpone the ciency payment of advance withdrawals, reduce the amount or refuse it altogether if the advance withdrawal is to repay a mortgage. It shall inform the insured person of the duration and scope of the measure.

Fees 9 The pension fund may charge the insured person a fee for the administrative expenses incurred in processing the application for an advance withdrawal and/or pledging if these expenses exceed the standard amount. These costs must be disclosed upon request.

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Reduction in sav- 10 First the separate account pursuant to 8 para. 3 is reduced and then the ings capital savings account. The BVG retirement assets are reduced in the same proportion as the ratio of the vested benefits transferred to the savings capital as a whole (incl. the special savings capital).

I. Further provisions governing the benefits

Art. 31 Coordination of pension benefits

Benefit reduc- 1 The benefits pursuant to these regulations are reduced if they exceed, to- tions gether with other eligible income, 90% of the last annual salary before the insured event occurred, and/or if the benefits according to the BVG exceed 90% of the presumed income lost. Creditable income includes benefits from: a. the AHV/IV, b. mandatory accident insurance, c. military insurance, d. Swiss and foreign social security schemes, e. an indemnity insurance (sickness or accident daily allowance) to which the employer, or, in its place, a foundation has paid at least 50% of the premiums, f. other pension schemes, g. vested benefits institutions (vested benefits policies and accounts). For disabled persons, any income or replacement income which the insured still earns or can be reasonably expected to earn can also be taken into account. Any lump-sum benefits are actuarially converted into equivalent pensions. In the case of the continued insurance of the pensionable annual salary after the age of 58 pursuant to Art. 6 para. 8, the annual salary earned prior to the salary reduction shall be used to calculate the excess compensation. A disabled person's earnings in accordance with the IV decision on disability are used in determining the replacement income that can reasonably be expected to be earned. The creditable amount is adjusted following any IV revi- sions.

Benefit reduc- 2 The retirement pension that replaces a disability pension at retirement age is tions at retire- coordinated in the same way as the previous disability pension for as long as ment benefits from the accident or military insurance are paid.

Provisional con- 3 During the provisional continued insurance and maintenance of the benefit tinued insurance claim pursuant to Art. 26a BVG, the pension fund reduces the disability pension in accordance with the reduced level of disability of the insured person, but only to the extent that the pension reduction is balanced by additional income earned by the insured.

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Creditable bene- 4 Children's and orphan's pensions from the AHV/IV are credited in full. Care fits allowances for persons unable to look after themselves and allowances for physical or mental impairment, satisfaction payments and similar benefits are not included. The assets from the special savings accounts are also not credited.

Misconduct 5 If other insurance carriers reduce or refuse their benefits due to incorrect behaviour, the calculation of the excess compensation shall be made based on the full benefits.

Coordination of 6 If the accident insurance does not pay the full disability or death benefits due pension benefits to the fact that the insured event is not exclusively the result of a specific cause covered by the insurer, the benefits are granted pro rata pursuant to these regulations. The above provisions apply mutatis mutandis for insured events pursuant to the MVG.

Relevant date 7 The date of entitlement to disability benefits or the date of death is used to calculate the coordination of the pension benefits. Subsequent pension increases by social security insurers do not result in the reduction of a current pension. However, if the pension from a social security insurer is reduced or terminated, the benefits pursuant to these pension fund regulations are re-calculated.

Additional reduc- 8 The pension fund may reduce its benefits to the same degree if the AHV/IV tions reduces, terminates or declines a benefit due to the fact that the beneficiaries caused the death or disability by gross negligence or object to a rehabilitation measure ordered by the IV. If the accident or military insurance reduces its benefits, the pension fund can also reduce its extra-mandatory benefits.

Art. 32 Right of recourse and subrogation

Subrogation 1 Pursuant to these regulations, the pension fund assumes, as at the date the insured event occurred, the claims of the insured person, their survivors or other beneficiaries up to the amount of the statutory benefits vis-à-vis third parties liable for the insured event. The details are set out in Art. 27 BVV 2.

Duty of assign- 2 The pension fund may demand that the beneficiaries of disability and survi- ment vor's benefits assign their claims vis-à-vis third parties to the pension fund up to the amount of the obligation to pay benefits. To this extent, the pension fund has a right of recourse against the liable third parties. If the insured person or his/her survivors refuse(s) to assign their liability claims to the pension fund, the latter is entitled to reduce its benefits by the amount of the assumed forfeiture of third-party benefits.

Art. 33 Duty of advance payments, reclamation and hardship cases

Duty of advance 1 If at the time the entitlement to benefits occurs the insured person is/was not payments a member of the pension scheme obliged to pay benefits, the pension scheme in which the person was last insured is subject to the duty of advance payments. If the pension fund liable for the payment of benefits is identified at a later date, the pension fund obliged to make advance payments can take recourse to this pension fund. With an advance payment obligation, the benefits of the foundation are limited to the statutory benefits pursuant to the BVG.

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Reclamation 2 Wrongfully received benefits may be reclaimed. Reclamation can be waived if the recipient of benefits received them in good faith and repayment would lead to great hardship.

Period of limita- 3 Reclamation claims expire one year after the entitled pension fund became tion for reclama- aware of the incorrect payment, but at the latest five years after the benefit was tion paid. If a repayment claim results from a criminal offence for which a longer period of limitation is granted under criminal law, this period takes precedence.

Offset of recla- 4 The Foundation can offset the reclamation claims with the benefits in accord- mation ance with the regulations.

Hardship cases 5 In cases of hardship, the Board of Trustees can mitigate or rescind a pension reduction.

Art. 34 Assignment, pledge and offsetting

Assignment 1 Prior to maturity, the claim to benefits may neither be pledged nor trans- /pledging ferred. Art. 30 is reserved.

Offset 2 The benefit claim may be offset against claims assigned to the pension fund by the employer only if these claims refer to regulatory contributions that were not deducted from the insured person's salary.

Art. 35 Adjustment of current pensions in line with inflation

Pension adjust- 1 The Board of Trustees annually reviews the adjustment of current pensions ment to inflation, taking into account the financial situation of the pension fund.

Mandatory pen- 2 By decree of the Swiss Federal Council, mandatory benefits pursuant to the sions BVG for disability and survivors' pensions that have been paid for longer than three years must be adjusted to the increase in the cost of living until the BVG retirement age. The adjustment of the mandatory benefits pursuant to the BVG beyond the BVG retirement age is decided by the Board of Trustees according to the pension fund's financial situation. In all cases, the adjustment to inflation is considered to have been discharged if and for as long as the benefits pursuant to these regulations exceed the BVG benefits.

Annual accounts 3 The pension fund comments on the decisions pursuant to para. 1 in its annual accounts or in the annual report.

Art. 36 Joint provisions

Minimum bene- 1 If the benefits pursuant to the pension fund regulations fall below those as fits set out by the BVG, those of the BVG shall apply.

Payment fre- 2 The pensions are paid in monthly instalments. The pensions are transferred quency to the bank or post office account designated to the pension fund at the end of the month at the latest. If the recipient is domiciled within the European Union or in one of the EFTA states, the pension will be transferred to a bank or post office account in his/her country of domicile.

Pension fund regulations 01 January 2021 27 General provisions UPC (Switzerland) Pension Fund

Interest 3 Lump-sum payments earn interest at the BVG minimum interest rate at maturity. In the case of retrospective pension payments, there is no entitlement to interest.

Expiry of entitle- 4 The full pension is paid for the month in which entitlement to the pension ment to pension ends.

One-off payment 5 A pension is replaced by an equivalent lump-sum (capitalisation of the pension) if the retirement or disability pension amounts to less than 10%, the spouse's pension to less than 6% and the child's pension to less than 2% of the minimum AHV retirement pension.

Period of limita- 6 The entitlement to vested pension rights is not subject to a statutory period tion of limitation as long as the insured person has not left the pension fund at the time of the insured event. A statute of limitation of five years applies to claims with regard to regular contributions and benefits, and of ten years to other claims. Art. 129 - 142 SCO apply.

Place of perfor- 7 The Foundation discharges its obligations (payment of pensions, etc.) at the mance Swiss domicile of the insured person or in the EU/EFTA state of the insured person, in the absence of which at the headquarters of the pension fund.

Registered part- 8 A registered partnership is deemed the same as a marriage pursuant to the nership Swiss Federal Law on the Registration of Partnerships for Same-Sex Couples. The provisions of these regulations relating to spouses therefore apply equally for insured persons living in a registered partnership.

Art. 37 Limitation of liability

Limitation of lia- 1 Claims against the pension fund may not exceed the risk benefits due or the bility current accrued individual savings capital.

Precedence of 2 The provisions of the BVG take precedence over these regulations. How- BVG ever, if the pension fund has assumed in good faith that one of its regulatory provisions is in accordance with the law, the legal provisions may not be applied retrospectively.

Art. 38 Partial or total liquidation

Entitlement 1 In the event of a partial or total liquidation of the pension fund, the insured persons leaving the pension fund are entitled to a share of any free assets.

Conditions and 2 The requirements and procedures are set out in separate regulations. procedures

28 Pension fund regulations 01 January 2021 UPC (Switzerland) Pension Fund General provisions

J. Organisation, administration and control

Art. 39 Board of Trustees

Composition 1 The Board of Trustees consists of at least four members, comprising an equal number of employer and employee representatives.

Tasks 2 The Board of Trustees manages the pension fund in accordance with the law, in particular pursuant to Art. 51a BVG, and according to the provisions of the deed of foundation, the regulations and the directives of the supervisory authority. It may delegate the management wholly or in part to one or more third parties. The Board of Trustees appoints the administrative office and forms the requisite committees.

Employer repre- 3 The employer representatives are appointed by the employer, who can at sentatives any time dismiss and replace the appointed representatives for serious reasons.

Employee repre- 4 The employee representatives are elected by the insured persons from sentatives amongst their ranks. All insured persons are entitled to propose prospective candidates who have received a written endorsement from at least ten insured persons. The proposed employee representatives are elected in a ballot.

Constitution 5 The chairman is chosen from amongst the employer representatives. Other- wise the Board of Trustees constitutes itself. It elects a vice-chairman from amongst its members. The Board of Trustees represents the pension fund ex- ternally and appoints the persons who have binding signatory powers on behalf of the pension fund. It also determines the form of signatory authority.

Term of office 6 The term of office for members of the Board of Trustees is three years. Re- election is possible. Members employed by the company must leave the Board of Trustees when their employment relationship is terminated. Members elected during the term of office inherit their predecessor's term of office.

Meetings 7 The Board of Trustees is convened by the chairman as necessary, but at least once a year. Every member may make a written request that the chairman should convene a meeting.

Adoption of reso- 8 The Board of Trustees is quorate if the majority of the members are present. lutions The Board of Trustees passes its resolutions by simple majority. If the vote is tied, a compromise solution must be found or an external court of arbitration is consulted. Minutes are taken of the resolutions of the Board of Trustees. These must be signed by the chairman or vice-chairman and the secretary.

Decision-making 9 The Board of Trustees takes the final decision in all matters, subject to Art. 46 powers para. 3 of these regulations. In justified individual cases and provided that the claims of the beneficiaries and the statutory provisions are maintained, it may pass resolutions that deviate from these regulations.

Resolutions by 10 Resolutions of the Board of Trustees can also be passed by circular letter if circular letter no member requests an oral discussion.

Training 11 The pension fund guarantees the initial and ongoing training of the members of the Board of Trustees.

Pension fund regulations 01 January 2021 29 General provisions UPC (Switzerland) Pension Fund

Art. 40 Administrative office, financial year

Responsibilities 1 Current business is handled by the management office under the supervision of the Board of Trustees.

Information 2 The management office regularly informs the Board of Trustees of the course of business and immediately in the case of any extraordinary events.

Annual accounts 3 The annual accounts are closed on 31 December every year. Accounting is carried out in compliance with the legal provisions.

Art. 41 Auditor, pension actuary

Auditor 1 The Board of Trustees appoints an auditor to carry out the annual audit of the pension fund's management, accounting and investments. The auditor sub- mits a written report on the results of its audit.

Pension actuary 2 The Board of Trustees appoints a recognised pension actuary to assess the pension fund periodically, but at least once every three years.

Art. 42 Duty of notification and information

Obligation to pro- 1 Insured persons and their survivors and/or all beneficiaries are obliged to vide information inform the pension fund truthfully and without delay of all circumstances and changes relevant to their insurance cover and the calculation of their benefits, and must submit the documents and proof required at their own cost.

Violation of duty 2 If an insured person violates his/her duty of disclosure by failing to disclose of disclosure or only partially disclosing a pre-existing health impairment of which he/she was aware or must have been aware, the pension fund is entitled within six months of becoming aware of the violation of the duty of disclosure ergo notification to refuse future benefits and demand the repayment of benefits already paid out plus interest and/or to limit the benefits to the statutory benefits pursuant to the BVG.

Duty of infor- 3 The pension fund informs the insured persons annually about their entitle- mation ment to benefits, their pensionable annual salary, the contributions, the balance of the savings account, the organisation and financing of the pension fund and the members of the Board of Trustees.

Information upon 4 If requested by the insured persons, they must be provided with the annual request accounts and the annual report, as well as with information on the return on capital, the actuarial risk experience, the administrative costs, the calculation of the actuarial reserve, the creation of reserves and the funding ratio. The insured persons have the right to submit recommendations, suggestions and requests regarding the pension fund personally or in written form to the Board of Trustees at any time.

Duty of infor- 5 The pension fund determines the relevant proportion of the BVG retirement mation regarding assets to the whole of the savings capital at the time of the instigation of divorce the BVG share proceedings or an early withdrawal for owner-occupied residential property. This information must be passed on in the case of a transfer of part of the vested benefits or pension units to another pension scheme or vested benefits institution. If this information is not passed on by the previous pension scheme or vested benefits institution upon the enrolment of an insured person, the pension fund must request it.

30 Pension fund regulations 01 January 2021 UPC (Switzerland) Pension Fund General provisions

Duty of infor- 6 The 2nd Pillar Central Office is notified by the end of January every year of mation vis-à-vis all the persons for whom assets were managed in the December of the previous the 2nd Pillar year. Central Office

Art. 43 Duty of confidentiality

Duty of confiden- 1 The members of the Board of Trustees and the persons entrusted with the tiality management of the pension fund must maintain the utmost confidentiality regarding any information they acquire in the course of carrying out their duties for the pension fund. In particular, this duty extends to the personal, contractual and financial situation of the insured persons and their dependants, as well as their employer.

End of office 2 The duty of confidentiality continues after the resignation from office or the termination of activities.

Art. 44 Financial equilibrium, financial restructuring measures

Actuarial 1 If the actuarial balance sheet reports an actuarial deficiency and the situation balance sheet is not expected to improve in the immediate future, the financial equilibrium of the pension fund must be restored via appropriate measures (reduction in benefits or increase in contributions).

Funding defi- 2 A temporary actuarial deficiency is permitted if the pension fund takes ciency measures to remedy this situation within an appropriate period of time.

Information 3 In the event of an actuarial deficiency, the pension fund must notify the supervisory authority, the insured persons, the pension recipients and the employer, and inform them of the measures taken.

Measures 4 The pension fund has to remedy the actuarial deficiency itself, whereby the measures chosen should take into account the scale of the deficit and the risk profile of the pension fund. To the extent permitted by the law, the following measures may, in principle, be taken: a. Financial restructuring contributions from employees and employer. In this case, the employer's contribution must equal at least the total contributions of the employees; b. Financial restructuring contributions from pension recipients. However, the statutory benefits pursuant to the BVG may not be decreased; c. Undercutting the BVG interest rate, insofar as the measures in accordance with a and b prove to be insufficient; d. Reduction in future benefits (prospective entitlement); e. Financial restructuring deposits from the employer. The employer may also make deposits into a separate account - the employer’s account for contribution reserves with waiver of usage - and also transfer funds from the standard employer contribution reserve to this.

Pension fund regulations 01 January 2021 31 General provisions UPC (Switzerland) Pension Fund

Amount of finan- 5 The amount of the financial restructuring contributions is determined by the cial restructuring Board of Trustees and recorded in an annex to the regulations. The financial contributions restructuring contributions of the employee are not taken into account when cal- culating the vested benefits pursuant to Art. 24 para. 3 (minimum amount).

Interest ratemini- 6 For the duration of the actuarial deficiency, the interest rate used for calcu- mum amount lating the vested benefits pursuant to Art. 24 para. 3 (minimum amount) can be reduced to the interest rate that applies to the savings capital.

32 Pension fund regulations 01 January 2021 UPC (Switzerland) Pension Fund General provisions

K. Transitional and final provisions

Art. 45 Entry into force, amendments

Entry into force 1 These regulations enter into force on 01 January 2021 and replace all previous regulations including any supplements.

Amendments 2 The Board of Trustees may amend the regulations at any time, taking into account the legal provisions and the purpose of the Foundation. The benefits accrued by the insured persons and the pension recipients are guaranteed at all times.

Art. 46 Gaps in the regulations, disputes

Version 1 The German version of the regulations is binding in all matters of interpretation.

Omissions 2 The Board of Trustees shall decide on all individual cases in accordance with the purpose of the Foundation and the law, insofar as no provisions in these regulations apply to the case.

Disputes, place 3 Disputes arising from the interpretation and application of these regulations of jurisdiction will be settled by the competent court. The place of jurisdiction is the Swiss registered office or place of residence of the defendant or the location of the company where the insured person was employed.

Art. 47 Transitional provisions

Current pensions 1 The pensions that are current on 31 December 2016 will continue to be paid as per unchanged, subject to Art. 44 in these regulations. The amount of the future 31.03.2013 benefits for current pensions also remains unchanged. The relevant requirements for entitlement and the provisions for reductions due to over insurance or for other reasons are, however, governed by the current regulations. In the case of disability pensions that are current on 31 December 2016, the savings capital and the savings credits will be accrued in accordance with these regulations. If a disability pension is replaced by a retirement pension, the amount of the retirement pension and the co-insured future benefits are calculated pursuant to these regulations.

Automatic 2 All the persons insured as per 31.12.2016 will automatically switch to the change to the "Standard" savings plan on 1.1.2017 unless the insured person has requested "Standard" sav- in writing by 14.12.2016 to remain in the "Mini" savings plan (so-called "opt-out") ings plan or to change to the "Maxi" savings plan. The "Mini" savings plan can no longer be selected at a later point in time and is only available to insured persons aged 25 - 54, i.e. who were born between 1963 and 1992. By 1 January in the year that the 55th year of age is reached, the insured person must switch to either the "Standard" or the "Maxi" savings plan.

Pension fund regulations 01 January 2021 33 General provisions UPC (Switzerland) Pension Fund

Cushioning 3 From 1.1.2017, the savings capital will be divided into old and new money measures for infor insured persons born between 1952 and1964. The old money represents sured persons the savings capital as per 31.12.2016 and the new money represents the sav- born between ings capital accrued after 31.12.2016. 1952 and 1964

Lump-sum with- 4 A lump-sum withdrawal will always first be financed by the old money for as drawal for in- long as it is available. sured persons born between 1952 and 1964

Old money for in- 5 From 1.1.2017 and for as long as it is available, the old money for insured sured persons persons born between 1952-1964 will be debited with: born between a. early withdrawals in the context of the promotion of home ownership, 1952 and 1964 b. compensation payments made following divorce.

New money for 6 From 1.1.2017 the new money for the insurance years 1952-1964 will be insured persons credited with: born between a. the savings contributions, 1952 and 1964 b. the benefits brought into the pension scheme, c. repayments in the context of the promotion of home ownership, d. compensation payments received following divorce, e. any purchase sums, and f. interest.

Amount of the re- 7 The amount of the annual retirement pension for insured persons born be- tirement pension tween 1952 and 1964 is calculated from the conversion of the old and new for insured per- money available at the time of retirement with the corresponding conversion sons born be- rate (special conversion rates for old and new money pursuant to Annex 5). tween 1952 and 1964

Semi-retirement 8 In the case of semi-retirement, the old money is first converted into a retire- for insured per- ment pension (special conversion rates for old and new money pursuant to An- sons born be- nex 5). tween 1952 and 1964

The Board of Trustees Zurich, 9 December 2020

 Prevanto AG / 15.12.2020

34 Pension fund regulations 01 January 2021 UPC (Switzerland) Pension Fund General provisions

L. Abbreviations and terminology

Employer The founding company and financially or economically closely related companies with which the foundation has signed an affiliation agreement. Employee Employees who have an employment contract with the founding company or one of the affiliated companies. Incapacity for Incapacity for work is defined as the full or partial inability to perform reasonable work work in the previous profession or field of duties due to impaired physical, mental or psychological health. If this persists for a long period of time, a reasonable activity in another profession or field of duties is also considered (Art. 6 ATSG). ATSG Swiss Federal Law on the General Part of the Social Insurance Law of6 October 2000. BVG Swiss Federal Law on Occupational Retirement, Survivors' and Disability Pen- sion Plans of 25 June 1982, including implementing ordinances. BVG interest Interest rate for BVG retirement assets (see Annex 5). rate BVV 2 Ordinance on Occupational Retirement, Survivors' and Disability Pension Plans of 18 April 1984. Registered Pursuant to the Swiss Federal Law on the Registration of Partnerships for partnership Same-Sex Couples, the registered partner has the same legal status as the spouse. Partner Partner living in a partnership that is similar to marriage. Earning inca- Earning incapacity is defined as the continuing full or partial loss of the ability to pacity take up employment in the relevant job market due to impaired physical, mental or psychological health in spite of reasonable treatment and rehabilitation (Art. 7 ATSG). FZG Swiss Federal Law on Vesting in Occupational Retirement, Survivors' and Dis- ability Pension Plans of 17 December 1993. FZV Ordinance on Vesting in Occupational Retirement, Survivors' and Disability Pension Plans of 3 October 1994. Disability Disability is defined as full or partial earning incapacity that is likely to be permanent or to persist in the longer term (Art. 8 para. 1 ATSG). IV Swiss Federal Disability Insurance Illness Illness is defined as any impairment to physical, mental or psychological health that is not due to an accident and that requires medical examination or treatment or which results in an incapacity for work. Those illnesses that exist from birth are defined as congenital defects (Art. 3 ATSG). MVG Swiss Federal Law on Military Insurance of 20 September 1949, including implementing ordinances. PartG Swiss Federal Law on the Registration of Partnerships for Same-Sex Couples of 18 June 2004 (partnership law). Projected inter- Interest rate used for extrapolating the insured person's savings capital until est rate normal retirement age. The projected interest rate is not guaranteed (see An- nex 5).

Pension fund regulations 01 January 2021 35 General provisions UPC (Switzerland) Pension Fund

Technical inter- The technical interest rate has a long-term orientation and is relevant for actu- est rate arial calculations such as the calculation of the conversion rate and the present value of pensions (discount rate for future pension payments) (see Annex 5). Conversion The regulatory percentage rate used to calculate the payment of a lifelong pen- rate sion from the accrued savings capital at retirement. Accident Accident is defined as an unexpected and involuntary injury to the human body resulting from an extraordinary external cause which is harmful to physical, mental and psychological health or which leads to death (Art. 4 ATSG). Funding defi- There is a cover shortage if, on the balance sheet date, the required actuarial ciency pension capital (savings capital and actuarial reserve, including any reinforce- ments of actuarial reserves) as calculated by the pension actuary in accordance with generally accepted principles is not covered by the available pension assets (assets at market value less commercial liabilities). UVG Swiss Federal Law on Accident Insurance of 20 March 1981, including implementing ordinances. Insured per- All male and female employees who have been enrolled with the pension fund. sons Interest on ar- Interest rate pursuant to Art. 7 FZV (see Annex 5). rears WEF Swiss Federal Law on the Encouragement of the Use of Vested Pension Accru- als for Home Ownership of 17 December 1993. WEFV Ordinance on the Encouragement of the Use of Vested Pension Accruals for Home Ownership of 3 October 1994.

36 Pension fund regulations 01 January 2021 UPC (Switzerland) Pension Fund General provisions

M. Annexes to the pension fund regulations

Pension fund regulations 01 January 2021 37

UPC (Switzerland) Pension Fund Annex

Annex 1 Amount of contributions

"Standard" savings plan Amount of the savings and supplementary contributions (Art. 8 para. 4 and 5)

Contributions as % of pensionable annual salary "Standard" Age Savings contributions Supplementary contri- Total contributions butions

Em- Em- Total Em- Em- Total Em- Em- Total ployee ployer ployee ployer ployee ployer

20 - 24 4.0 4.5 8.5 1.4 2.1 3.5 5.4 6.6 12.0

25 - 34 5.3 6.5 11.8 1.4 2.1 3.5 6.7 8.6 15.3

35 - 44 7.0 9.0 16.0 1.4 2.1 3.5 8.4 11.1 19.5

45 - 54 8.4 11.1 19.5 1.4 2.1 3.5 9.8 13.2 23.0

55 - 65 10.2 13.8 24.0 1.4 2.1 3.5 11.6 15.9 27.5

Transfer to the next level of contributions takes place on 1 January

"Maxi" savings plan Amount of the savings and supplementary contributions (Art. 8 para. 4 and 5)

Contributions as % of pensionable annual salary "Maxi" Age Savings contributions Supplementary contri- Total contributions butions

Em- Em- Total Em- Em- Total Em- Em- Total ployee ployer ployee ployer ployee ployer

20 - 24 4.5 4.5 9.0 1.4 2.1 3.5 5.9 6.6 12.5

25 - 34 6.3 6.5 12.8 1.4 2.1 3.5 7.7 8.6 16.3

35 - 44 8.0 9.0 17.0 1.4 2.1 3.5 9.4 11.1 20.5

45 - 54 9.4 11.1 20.5 1.4 2.1 3.5 10.8 13.2 24.0

55 - 65 11.2 13.8 25.0 1.4 2.1 3.5 12.6 15.9 28.5

Pension fund regulations 01 January 2021 I Annex UPC (Switzerland) Pension Fund

Transfer to the next level of contributions takes place on 1 January every year "Mini" savings plan The "Mini" savings plan is offered only under the conditions set out in Art. 46 para. 2.

Amount of the savings and supplementary contributions (Art. 8 para. 4 and 5)

Contributions as % of pensionable annual salary "Mini" Age Savings contributions Supplementary contri- Total contributions butions

Em- Em- Total Em- Em- Total Em- Em- Total ployee ployer ployee ployer ployee ployer

25 - 34 4.3 6.5 10.8 1.4 2.1 3.5 5.7 8.6 14.3

35 - 44 6.0 9.0 15.0 1.4 2.1 3.5 7.4 11.1 18.5

45 - 54 7.4 11.1 18.5 1.4 2.1 3.5 8.8 13.2 22.0

Transfer to the next level of contributions takes place on 1 January every year.

II Pension fund regulations 01 January 2021 UPC (Switzerland) Pension Fund Annex

Annex 2 Purchase of additional benefits The maximum possible purchase equals the amount (as % of pensionable annual salary) pursuant to the following table.

Age Maximum possible savings capital Age at purchase in % of pensionable annual salary at purchase

Mini Standard Maxi Mini Standard Maxi 20 9 9 287 374 401 43 21 17 18 308 398 426 44 22 26 28 332 425 455 45 23 35 37 358 453 484 46 24 44 47 383 481 514 47 25 11 57 61 409 510 545 48 26 22 70 75 436 540 576 49 27 33 83 89 463 570 608 50 28 45 96 103 491 601 641 51 29 56 110 118 519 632 674 52 30 68 124 133 548 664 708 53 31 80 138 149 577 697 742 54 32 93 153 165 735 782 55 33 105 168 181 773 822 56 34 118 183 197 813 864 57 35 135 203 218 853 906 58 36 153 223 239 894 949 59 37 171 243 261 935 992 60 38 190 264 283 978 1037 61 39 208 285 306 1021 1083 62 40 227 307 329 1065 1129 63 41 247 329 352 1111 1176 64 42 267 351 376 1157 1225 65

The insured person must verify himself/herself whether the purchase may be deducted from taxable income. For example, "Maxi" plan Example: - Age (man) 52 years - Pensionable annual salary CHF 40,000 - Balance of savings capital CHF 120,000 - Maximum amount (674%*40,000) CHF 269,600 - Possible purchase (269,600 -120,000) CHF 149,600

Pension fund regulations 01 January 2021 III Annex UPC (Switzerland) Pension Fund

Annex 3 Purchase to compensate for the effects of early retirement

The maximum possible purchase in the special savings account "Purchase to compensate for the effects of early retirement" equals, according to the age selected, the amount (in % of pensionable annual salary) pursuant to the table, less the savings capital accrued in the special savings account.

Maximum potential savings capital in special savings account Age at purchase as % of pensionable annual salary Men Women Men and Women Age of retirement Duration of early retirement 65 64 1 Year 2 Years 3 Years 4 Years 5 Years Mini St'ard Maxi Mini St'ard Maxi Mini St'ard Maxi Mini St'ard Maxi Mini St'ard Maxi 20 1% 1% 2% 3% 4% 4% 5% 5% 7% 7% 21 20 2% 2% 5% 5% 8% 8% 11% 11% 14% 15% 22 21 3% 4% 7% 8% 11% 12% 16% 17% 21% 22% 23 22 5% 5% 10% 10% 15% 16% 21% 23% 28% 30% 24 23 6% 6% 12% 13% 19% 20% 27% 29% 35% 37% 25 24 1% 7% 8% 3% 15% 16% 4% 24% 25% 6% 33% 35% 7% 43% 45% 26 25 2% 8% 9% 5% 18% 19% 8% 28% 29% 11% 39% 41% 15% 51% 53% 27 26 4% 10% 10% 8% 20% 22% 12% 32% 34% 17% 45% 47% 22% 59% 62% 28 27 5% 11% 12% 10% 23% 24% 16% 36% 38% 23% 51% 54% 30% 66% 70% 29 28 6% 13% 13% 13% 26% 27% 21% 41% 43% 29% 57% 60% 38% 75% 79% 30 29 8% 14% 15% 16% 29% 31% 25% 45% 48% 35% 63% 67% 46% 83% 87% 31 30 9% 15% 16% 19% 32% 34% 29% 50% 53% 41% 70% 74% 54% 91% 96% 32 31 10% 17% 18% 22% 35% 37% 34% 55% 58% 48% 76% 81% 62% 100% 105% 33 32 12% 18% 19% 25% 38% 40% 39% 60% 63% 54% 83% 88% 71% 109% 115% 34 33 13% 20% 21% 28% 41% 43% 43% 65% 68% 61% 90% 95% 80% 118% 124% 35 34 15% 21% 22% 31% 44% 47% 48% 70% 73% 67% 97% 102% 89% 127% 134% 36 35 16% 23% 24% 34% 48% 50% 53% 75% 79% 74% 104% 110% 98% 136% 144% 37 36 18% 24% 26% 37% 51% 54% 58% 80% 84% 81% 111% 117% 107% 146% 154% 38 37 19% 26% 27% 40% 54% 57% 63% 85% 90% 88% 119% 125% 116% 156% 164% 39 38 21% 28% 29% 44% 58% 61% 68% 91% 95% 96% 126% 133% 126% 165% 174% 40 39 22% 29% 31% 47% 61% 65% 74% 96% 101% 103% 134% 141% 135% 176% 185% 41 40 24% 31% 33% 50% 65% 68% 79% 102% 107% 111% 142% 150% 145% 186% 196% 42 41 26% 33% 35% 54% 69% 72% 85% 107% 113% 119% 150% 158% 156% 196% 207% 43 42 28% 35% 37% 58% 72% 76% 90% 113% 119% 126% 158% 167% 166% 207% 218% 44 43 29% 37% 38% 61% 76% 80% 96% 119% 126% 134% 166% 175% 177% 218% 230% 45 44 31% 38% 40% 65% 80% 84% 102% 125% 132% 143% 175% 184% 187% 229% 242% 46 45 33% 40% 42% 69% 84% 89% 108% 132% 139% 151% 184% 194% 198% 240% 254% 47 46 35% 42% 45% 73% 88% 93% 114% 138% 145% 160% 192% 203% 210% 252% 266% 48 47 37% 44% 47% 77% 92% 97% 120% 144% 152% 168% 201% 212% 221% 264% 278% 49 48 39% 46% 49% 81% 96% 102% 127% 151% 159% 177% 211% 222% 233% 276% 291% 50 49 41% 48% 51% 85% 101% 106% 133% 158% 166% 186% 220% 232% 244% 288% 304% 51 50 43% 50% 53% 89% 105% 111% 140% 165% 174% 195% 230% 242% 257% 301% 317% 52 51 45% 53% 55% 93% 110% 115% 147% 172% 181% 205% 239% 252% 269% 314% 331% 53 52 47% 55% 58% 98% 114% 120% 153% 179% 188% 214% 249% 263% 282% 327% 344% 54 53 49% 57% 60% 102% 119% 125% 160% 186% 196% 224% 259% 274% 294% 340% 358% 55 54 59% 62% 123% 130% 193% 204% 270% 284% 353% 373% 56 55 62% 65% 128% 135% 201% 212% 280% 296% 367% 387% 57 56 64% 67% 133% 140% 209% 220% 291% 307% 381% 402% 58 57 66% 70% 138% 146% 217% 228% 302% 319% 396% 417% 59 58 69% 72% 143% 151% 225% 237% 313% 330% 410% 433% 60 59 71% 75% 149% 157% 233% 245% 325% 342% 425% 448% 61 60 74% 78% 154% 162% 241% 254% 336% 355% 62 61 76% 81% 159% 168% 250% 263% 63 62 79% 83% 165% 174% 64 63 82% 86%

Example of purchase to compensate for pension reduction (Age 52, Standard Plan):

Pensionable annual salary CHF 40'000 Preferred retirement date: 3 years before regular retirement Value according to table for age 52 172% Complete purchase to compensate for early retirement 172% x CHF 40'000 = CHF 68'800

The insured person must contact the tax authority themselves to find out whether the purchase can be deducted from taxable income.

IV Pension fund regulations 01 January 2021 UPC (Switzerland) Pension Fund Annex

Annex 4 Purchase of AHV bridging pension The maximum possible purchase in the special savings account "Purchase of AHV bridging pension", according to the retirement age selected, equals the amount (in percentage of the maximum AHV retirement pension) pursuant to the table, less the accrued savings capital in the corresponding special savings account. Maximum possible special savings capital Age at purchase as % of max. AHV retirement pension Selected retirement age (men / women) Men Women 64 / 63 63 / 62 62 / 61 61 / 60 60 / 59 59 / 58 58 / - 25 26% 53% 81% 110% 140% 171% 203% 26 25 27% 55% 84% 114% 145% 177% 210% 27 26 28% 57% 87% 118% 150% 183% 218% 28 27 29% 59% 90% 122% 155% 190% 225% 29 28 30% 61% 93% 126% 161% 196% 233% 30 29 31% 63% 96% 131% 166% 203% 242% 31 30 32% 65% 100% 135% 172% 210% 250% 32 31 33% 68% 103% 140% 178% 218% 259% 33 32 34% 70% 107% 145% 185% 225% 268% 34 33 36% 73% 111% 150% 191% 233% 277% 35 34 37% 75% 115% 155% 198% 242% 287% 36 35 38% 78% 119% 161% 205% 250% 297% 37 36 40% 80% 123% 166% 212% 259% 307% 38 37 41% 83% 127% 172% 219% 268% 318% 39 38 42% 86% 131% 178% 227% 277% 329% 40 39 44% 89% 136% 185% 235% 287% 341% 41 40 45% 92% 141% 191% 243% 297% 353% 42 41 47% 95% 146% 198% 252% 307% 365% 43 42 49% 99% 151% 205% 260% 318% 378% 44 43 50% 102% 156% 212% 269% 329% 391% 45 44 52% 106% 162% 219% 279% 341% 405% 46 45 54% 110% 167% 227% 289% 353% 419% 47 46 56% 113% 173% 235% 299% 365% 433% 48 47 58% 117% 179% 243% 309% 378% 449% 49 48 60% 121% 185% 252% 320% 391% 464% 50 49 62% 126% 192% 260% 331% 405% 481% 51 50 64% 130% 199% 270% 343% 419% 497% 52 51 66% 135% 206% 279% 355% 433% 515% 53 52 68% 139% 213% 289% 367% 449% 533% 54 53 71% 144% 220% 299% 380% 464% 551% 55 54 73% 149% 228% 309% 393% 481% 571% 56 55 76% 155% 236% 320% 407% 497% 591% 57 56 79% 160% 244% 331% 421% 515% 611% 58 57 81% 166% 253% 343% 436% 533% 633% 59 58 84% 171% 262% 355% 452% 552% 60 59 87% 177% 271% 367% 467% 61 60 90% 184% 280% 380% 62 61 93% 190% 290% 63 62 97% 197% 64 63 100%

Pension fund regulations 01 January 2021 V

UPC (Switzerland) Pension Fund Annex

Annex 5 Threshold rates, conversion and interest rates

Thresholds (in CHF) As at 01/01/2021

Maximum AHV retirement pension 28,680

Entry threshold 21,510

Coordination offset 30% of annual salary, max. CHF 25,095

Maximum pensionable annual salary 215,100

Minimum pensionable annual salary 3,585

Interest rates As at 01/01/2021

BVG interest rate 1.00%

Projected interest rate 1.00%

Technical interest rate 0.00%

Interest on arrears 2.00%

Pension fund regulations 01 January 2021 VII Annex UPC (Switzerland) Pension Fund

Conversion rate used to calculate the retirement pension at retirement age:

Old money (see Art. 46 para. 7)

Conversion rate (men and women) Enrolment in relation to the year the pension started in the insurance Age during year 65 64 63 62 61 60 59 58

2017 5.59% 5.44% 5.29% 5.14% 4.99% 4.84% 4.69% 4.54%

2018 5.47% 5.32% 5.17% 5.02% 4.87% 4.72% 4.57% 4.42%

2019 5.36% 5.21% 5.06% 4.91% 4.76% 4.61% 4.46% 4.31%

2020 5.24% 5.09% 4.94% 4.79% 4.64% 4.49% 4.34% 4.19%

2021 5.13% 4.98% 4.83% 4.68% 4.53% 4.38% 4.23% 4.08%

2022 5.06% 4.91% 4.76% 4.61% 4.46% 4.31% 4.16% 4.01% 2023 and 5.00% 4.85% 4.70% 4.55% 4.40% 4.25% 4.10% 3.95% later

New money (see Art. 46 para. 8)

Conversion rate (men and women) Enrolment in relation to the year the pension started in the insurance Age during year 65 64 63 62 61 60 59 58

2017 and 5.00% 4.85% 4.70% 4.55% 4.40% 4.25% 4.10% 3.95% later

The conversion rate may be reviewed at any time by the Board of Trustees and adjusted. In determining the conversion rate the age of the insured person is calculated exactly according to the year and the month (interpolation).

VIII Pension fund regulations 01 January 2021 UPC (Switzerland) Pension Fund Annex

Annex 6 Application for lump-sum withdrawal of retirement pension

For the attention of the Board of Trustees of the pension fund

APPLICATION for lump-sum withdrawal of retirement pension

Pursuant to the valid regulations, an application for a partial or a full capitalisation of the retirement pension must be submitted at least three months before the pension entitlement takes effect.

I would like to take advantage of this option and request the capitalisation of ………..% of my retirement pension.

I am aware that all claims vis à vis the pension fund are discharged for the part of the retirement pension that I withdraw as a lump sum.

My personal details:

Last name:...... AHV no.:......

First name:...... Place / date:......

Signature of applicant: ......

Signature of spouse: ...... (with notarial authentication or other evidence)

Pension fund regulations 01 January 2021 IX Annex UPC (Switzerland) Pension Fund

Annex 7 Declaration regarding distribution of the lump sum payable at death The undersigned requests that the lump sum payable upon his/her death before retirement age be paid to the eligible survivors in the following percentages:

Share * Order Beneficiaries (in % / in CHF)

...... a. Spouse and children and/or foster children ...... of the deceased person who are entitled to ...... an orphan's pension pursuant to Art. 20 ......

b. Natural persons who were supported to a significant degree by the insured person at the time of his/her death or the person with whom the insured deceased person had ...... been living in a permanent marriage-like re- ...... lationship during the last five years or who is responsible for the support of one or more joint children

...... c. Children not included in a......

Total 100 %

* We recommend stating the ratios in % to which the individual persons are entitled in terms of the total capital to be paid out by the pension fund. Persons in group b only become entitled if there are no entitled persons in group a, and those in group c only if there are no entitled persons in groups a and b, etc. The insured person acknowledges that this declaration has no legal validity if it contradicts the legal or tax provisions.

Last name, first name of the insured person: ......

Place / date and signature ...... The Board of Trustees has taken note of this declaration. Place / date: ...... On behalf of the Board of Trustees: ......

X Pension fund regulations 01 January 2021 UPC (Switzerland) Pension Fund Annex

Annex 8 Notification of a life partnership

Insured person:

Surname First name Date of birth Marital status

………………. ……………….. ………………… ………………….

Address AHV no.

……………………………………………. …………………………………

Life partner:

Surname First name Date of birth Marital status

………………. ……………….. ………………… ………………….

Address AHV no.

……………………………………………. …………………………………

1. Under certain conditions, Art. 18 of the pension fund regulations of UPC (Switzerland) Pension Fund grants a pension to the surviving life partner of an insured person. Eligi- bility to a life partner’s pension is only checked by UPC (Switzerland) Pension Fund after the death of the insured person.

2. We herewith register our life partnership in accordance with Art. 18 of the pension fund regulations of UPC (Switzerland) Pension Fund. We confirm that we have been living together in a joint household without interruption since

………………………………… at …………………………………………………….. (place of residence and address).

3. The insured person undertakes to inform UPC (Switzerland) Pension Fund about any changes and the dissolution of the life partnership without delay.

Place Date

………………………………………… ………………………….

Signature of the insured person …………………………………………….

Signature of the life partner ……………………………………………….

Pension fund regulations 01 January 2021 XI Annex UPC (Switzerland) Pension Fund

Contact:

UPC (Switzerland) Pension Fund Office PO Box 8152 Glattbrugg

Mail: [email protected], Phone: 043 210 19 38

Responsible for you - Kerstin Lohrmann (Managing Director), Sabina Karunakaran (Admin- istration)

XII Pension fund regulations 01 January 2021