General Meeting, Shareholders Tacitly Confirm That They Comply with These Conditions

RAPPERSWIL-JONA, 10 MARCH 2020 IMPORTANT ANNOUNCEMENT

Dear shareholders,

In view of the current situation with regard to the Corona virus, the Confederation is currently advising against participation in large gatherings and prohibits events attended by more than 1000 people. Furthermore, the canton of St. Gallen is insisting that at events with fewer than 1000 participants it is ensured that none of the guests was in a risk area in the last 14 days as defined by the Federal Office of Public Health (FOPH)* or indeed comes from such a risk area. By taking part in the General Meeting, shareholders tacitly confirm that they comply with these conditions. As we are legally obliged to hold the General Meeting, we are planning to conduct it.

We ask those shareholders who do not feel completely healthy or who are worried about being infected to delegate their votes to the Independent Proxy via a written or an electronic power of attorney. Due to the limitation to 1000 people, we cannot grant admission to the GM hall for any more than 800 shareholders along with the organisational staff. Due to the current situation, we have decided not to hold the aperitif after the General Meeting and the production exhib ition which was due to take place in the entrance area – we kindly ask for your understanding.

We have also decided to broadcast the General Meeting live on the Internet so that you can still obtain first-hand information. You will find the relevant link on our website→ www.geberit.com/ investors/general-meeting

We must advise you that if you decide to attend the General Meeting, you do so at your own risk. We reserve the right to take further measures if we feel they are necessary, such as fever control or similar protective measures. Furthermore, the General Meeting could be postponed at short notice depending on current developments or if the relevant approval to hold the GM is not granted.

Kind regards,

Albert M. Baehny Chairman of the Board of Directors

* Currently affected areas are China, Iran, South Korea, Singapore as well as the areas Lombardy, Piedmont and Veneto in Italy (updates on the situation will be posted at → www.geberit.com/investors/ general-meeting).

Geberit AG · Schachenstrasse 77 · CH-8645 Jona · Postfach 1575 · CH-8640 Rapperswil Telephone + 41 (0)55 221 69 47 · [email protected] · www.geberit.com

Beiblatt Einladung GV 2020 en.indd 1 04.03.20 17:42 RUBRIK

INVITATION GENERAL MEETING 2020

Geberit_GV-Einladung_A5_2020_E.indd 1 03.03.20 16:45 RUBRIK

INVITATION 21ST ORDINARY GENERAL MEETING

DATE 1 APRIL 2020 AT 4:30 P.M. (DOORS OPEN AT 3:30 P.M.)

LOCATION SPORTHALLE GRÜNFELD GRÜNFELDSTRASSE 8 8645 RAPPERSWIL-JONA SWITZERLAND

Geberit_GV-Einladung_A5_2020_E.indd 2 03.03.20 16:45 TO THE SHAREHOLDERS OF GEBERIT AG

Dear Sir or Madam

We are pleased to invite you to our 21st ordinary General Meeting. Enclosed, please find the agenda of the General Meeting, the response slip for ordering admission cards, and the Summary Report on the 2019 business year. The complete 2019 Annual Report may be viewed at → www.geberit.com/annualreport.

We kindly ask you to return the completed and signed response slip using the envelope provided. Your admission card will then be sent to you.

We would also like to point out that you can register on our shareholder platform at → www.sherpany.com/geberit. In this case, you will receive your documents for the General Meeting in electronic form only and you can grant your proxy and issue instructions to the Independent Proxy online. Of course, you can still attend the General Meeting in person. The hotline +41 (0) 800 808 202 is available in case you need support with the electronic registration. If you choose not to register electronically, you will receive your General Meeting documents as usual by mail.

The General Meeting will be held in Rapperswil-Jona on Wednesday, 1 April 2020, beginning at 4:30 p.m. After the meeting, you are cordially invited to join us for an aperitif.

We very much look forward to welcoming you personally to our General Meeting.

Yours faithfully Geberit AG

SHAREHOLDER PLATFORM Albert M. Baehny Chairman of the Board of Directors SHERPANY

Register now and have your say online: www.sherpany.com/geberit Enclosures – Agenda of the General Meeting – Response slip/instruction form with return envelope – Summary Report of the 2019 business year – Sherpany registration form

Geberit_GV-Einladung_A5_2020_E.indd 3 03.03.20 16:45 AGENDA AND PROPOSALS

1. Approval of the Business and Financial Review, the Financial Statements and the Consolidated Financial Statements for 2019, acceptance of the Auditors’ Reports Proposal: The Board of Directors proposes approval of the Business and Financial Review, the Financial Statements and the Consolidated Financial Statements 2019.

2. Resolution on the allocation of capital contribution reserves from the legal reserves to the free reserves and the appropriation of available earnings

2.1 Resolution on the allocation of capital contribution reserves from the legal reserves to the free reserves Proposal: The Board of Directors proposes the allocation of capital contribution reserves in the amount of CHF 21,501,404 from the legal reserves to the free reserves.

2.2 Resolution on the appropriation of available earnings Proposal: The Board of Directors proposes the appropriation of available earnings as follows:

Net income for the business year 2019 CHF 549,799,986 Balance brought forward CHF 10,211,072 Total available earnings CHF 560,011,058

Transfer to free reserves CHF 150,000,000 Proposed dividend of CHF 11.30 per share CHF 409,928,699* Balance to be carried forward CHF 82,359 Total appropriation of available earnings CHF 560,011,058

* The shares held by the company at the time of the dividend payment do not carry dividend rights. The amount of the dividend shown can thus change accordingly.

If accepted, the dividend will be paid out, less 35% withholding tax, on 7 April 2020.

3. Formal approval of the actions of the Board of Directors Proposal: The Board of Directors proposes that the actions of the members of the Board of Directors during the 2019 business year be approved.

Geberit_GV-Einladung_A5_2020_E.indd 4 03.03.20 16:45 AGENDA AND PROPOSALS

4. Elections to the Board of Directors, election of the Chairman of the Board of Directors and elections to the Compensation Committee Member of the Board of Directors Thomas M. Hübner passed away at the beginning of October 2019. Within the context of succession planning, the Geberit AG Board of Directors nominates Werner Karlen as a new member of the Board of Directors at the General Meeting.

Short CVs of those persons proposed to be re-elected as members of the Board of Directors are available at → www.geberit.com/annualreport > Business report > Corporate Governance > Board of Directors.

4.1 Elections to the Board of Directors and election of the Chairman of the Board of Directors

4.1.1 Re-election of Albert M. Baehny as a member of the Board of Directors and as Chairman of the Board of Directors Proposal: The Board of Directors proposes that Albert M. Baehny be re-elected as a member of the Board of Directors and that he also be re-elected as Chairman of the Board of Directors until the closing of the next ordinary General Meeting.

4.1.2 Re-election of Felix R. Ehrat Proposal: The Board of Directors proposes that Felix R. Ehrat be re-elected as a member of the Board of Directors until the closing of the next ordinary General Meeting.

4.1.3 Re-election of Bernadette Koch Proposal: The Board of Directors proposes that Bernadette Koch be re-elected as a member of the Board of Directors until the closing of the next ordinary General Meeting.

4.1.4 Re-election of Hartmut Reuter Proposal: The Board of Directors proposes that Hartmut Reuter be re-elected as a member of the Board of Directors until the closing of the next ordinary General Meeting.

4.1.5 Re-election of Eunice Zehnder-Lai Proposal: The Board of Directors proposes that Eunice Zehnder-Lai be re-elected as a member of the Board of Directors until the closing of the next ordinary General Meeting.

Geberit_GV-Einladung_A5_2020_E.indd 5 03.03.20 16:45 AGENDA AND PROPOSALS

4.1.6 Election of Werner Karlen Proposal: The Board of Directors proposes that Werner Karlen be elected as a member of the Board of Directors until the closing of the next ordinary General Meeting.

A short CV of Werner Karlen is available at → www.geberit.com > Media > Media Releases >10.03.2020.

4.2 Elections to the Compensation Committee The Geberit Group has a combined Nomination and Compensation Committee (NCC). When electing the members of the Compensation Committee, you will elect the members of the combined Nomination and Compensation Committee.

4.2.1 Re-election of Hartmut Reuter Proposal: The Board of Directors proposes that Hartmut Reuter be re-elected as a member of the Compensation Committee until the closing of the next ordinary General Meeting.

If Hartmut Reuter is re-elected as a member of the Compensation Committee, the Board of Directors intends to appoint him as Chairman of the Compensation Committee.

4.2.2 Re-election of Eunice Zehnder-Lai Proposal: The Board of Directors proposes that Eunice Zehnder-Lai be re-elected as a member of the Compensation Committee until the closing of the next ordinary General Meeting.

4.2.3 Election of Werner Karlen Proposal: The Board of Directors proposes that Werner Karlen be elected as a member of the Compensation Committee until the closing of the next ordinary General Meeting.

5. Re-election of the Independent Proxy Proposal: The Board of Directors proposes that the lawyer’s office hba Rechtsanwälte AG, Zurich, represented by Roger Müller, lawyer, be re-elected as the Independent Proxy until the closing of the next ordinary General Meeting.

A portrait of the lawyer’s office hba Rechtsanwälte AG as well as a short CV of Roger Müller is available at → www.hba.ch.

Geberit_GV-Einladung_A5_2020_E.indd 6 03.03.20 16:45 AGENDA AND PROPOSALS

6. Re-appointment of the Auditors Proposal: The Board of Directors proposes that PricewaterhouseCoopers AG be re-appointed as Auditors for the 2020 business year.

7. Remuneration

7.1 Consultative vote on the 2019 Remuneration Report Proposal: The Board of Directors proposes that the General Meeting take note of and endorse the 2019 Remuneration Report in a consultative vote.

Explanations: The 2019 Remuneration Report provides an overview of the remuneration principles and programmes applicable to the Board of Directors and the Group Executive Board of Geberit, as well as details related to the remuneration awarded to the members of these two bodies for the 2019 business year. The vote on the 2019 Remuneration Report is purely consultative and is conducted in line with the recommendations of the Swiss Code of Best Practice for Corporate Governance. The 2019 Remuneration Report can be found at → www.geberit.com/annualreport > Business report > Remuneration Report.

7.2 Approval of the maximum aggregate remuneration amount for the members of the Board of Directors for the period until the next ordinary General Meeting Proposal: The Board of Directors proposes that the General Meeting approve the maximum aggregate remuneration amount of CHF 2,350,000 for the six members of the Board of Directors for the period until the next ordinary General Meeting.

Explanations: The annex sets out further details in relation to this proposal. In addition, the remuneration system of Geberit is described in the Remuneration Report. The 2019 Remuneration Report can be found at → www.geberit.com/annualreport > Business report > Remuneration Report.

7.3 Approval of the maximum aggregate remuneration amount for the members of the Group Executive Board for the business year 2021 Proposal: The Board of Directors proposes that the General Meeting approve the maximum aggregate remuneration amount of CHF 11,500,000 for the six members of the Group Executive Board for the business year 2021.

Geberit_GV-Einladung_A5_2020_E.indd 7 03.03.20 16:45 ANNEX

Annex to agenda item 7: Remuneration

Explanations: This binding vote is conducted in compliance with the provisions of the Ordinance against Excessive Compensation with respect to Listed Companies (OaEC) and pursuant to Art. 22 of the Articles of Incorporation of Geberit AG.

The members of the Board of Directors receive a fixed remuneration only. They are neither eligible to variable or performance-based remuneration nor entitled to participate in the pension plans of Geberit. The remuneration of the Board of Directors is paid as summarised below:

Fixed annual amount In CHF Delivery Chairman of the Board of Directors 885,000 70% in cash and 30% in restricted shares Vice Chairman of the Board of Directors 245,000 Restricted shares Member of the Board of Directors 190,000 Restricted shares

Additional annual fees Chairman of NCC/Audit Committee 45,000 Restricted shares Member of NCC/Audit Committee 30,000 Restricted shares Expense allowance1 15,000 Cash

1 The Chairman of the Board of Directors is eligible to expense allowance.

Geberit_GV-Einladung_A5_2020_E.indd 8 03.03.20 16:45 ANNEX

The following table illustrates the composition of the proposed maximum aggregate amount of CHF 2,350,000 for the remuneration of the Board of Directors for the period until the next ordinary General Meeting.

Approved ordinary Expected payout Proposal ordinary General Meeting ordinary General General Meeting 2019–2020 Meeting 2020–2021 2019–2020 Number of members 6 6 6 of the Board of Directors

In CHF Annual retainer 1,890,000 1,797,111 1,890,000 Committee fees 210,000 210,000 210,000 Expense allowance 90,000 82,667 90,000 Employer contributions 160,000 103,141 160,000 to social security Total 2,350,000 2,192,919 2,350,000

The proposed maximum aggregate amount is calculated for six members of the Board of Directors, assuming that all proposed individuals are being elected as members of the Board of Directors at the 2020 ordinary General Meeting. It includes the cash remuneration of the Chairman, the value of the annual retainer and the committee fees paid in restricted shares, the expense allowance and the mandatory social security contributions made by the employer (for the restricted shares, calculated based on the value at grant).

The proposed amount is consistent with the amount approved at the last ordinary General Meeting and includes small reserves. All remunerations will remain unchanged.

The actual remuneration paid will be disclosed in the Remuneration Report of the respective year, which will be submitted to a consultative shareholder vote.

Further information on the remuneration of the Board of Directors is provided in the 2019 Remuneration Report → www.geberit.com/annualreport > Business report > Remuneration Report.

Geberit_GV-Einladung_A5_2020_E.indd 9 03.03.20 16:45 ANNEX

7.3 Approval of the maximum aggregate remuneration amount for the members of the Group Executive Board for the business year 2021 Proposal: The Board of Directors proposes that the ordinary General Meeting approve the maximum aggregate remuneration amount of CHF 11,500,000 for the six members of the Group Executive Board for the business year 2021.

Explanations: This binding vote is conducted in compliance with the Ordinance against Excessive Compensation with respect to Listed Companies (OaEC) and pursuant to Art. 22 of the Articles of Incorporation of Geberit AG.

The remuneration policy of Geberit is driven by the pay-for-performance philosophy and a strong alignment with long-term shareholder value creation. Therefore, the overall remuneration of the members of the Group Executive Board consists of a fixed and a variable remuneration. The variable remuneration is performance-based and includes a short-term incentive in cash (with voluntary investment into restricted shares) and a long-term incentive plan in the form of performance options. This system shall reward superior sustaina- ble performance and shall encourage behaviour that is in line with the company’s high standards of integrity.

Elements of remuneration of the Group Executive Board Base salary Benefits Short-term incentive Long-term incentive Reflects the function Establishes a level Rewards performance Rewards the com and scope of res- of security for the and the achieve- pany’s success over ponsibilities, as well as employees and their ment of business, a three-year period the personal profile dependents against financialand personal and drives long-term of the incumbent (ex- risks such as age, o b j e c ti v e s o v e r value added. Deliv- perience and skill death and disability. a one-year period. ered in share options. set). Delivered in cash Tailored to local Delivered in cash, with on a monthly basis. regulations and mar- possibility to invest ket practice. part or all of the incentive in restricted shares, with one matching performance option for each share purchased.

Geberit_GV-Einladung_A5_2020_E.indd 10 03.03.20 16:45 ANNEX

The following table illustrates the composition of the proposed maximum aggregate amount of CHF 11,500,000 for the remuneration of the Group Executive Board for the business year 2021.

Maximum Maximum amount requested to approved ordinary General Meeting for amount 2021 for 2020 (if all targets are achieved In TCHF to maximum level) Annual base salaries 3,690 3,690 Benefits1 970 970 Short-term incentive2 3,980 3,980 Long-term incentive3 2,860 2,860 Total 11,500 11,500

1 Includes employer contributions to pension plans and mandatory employer contributions to social security. Mandatory employer contributions to social security on equity of plans granted in previous years are not included. 2 Calculated under the assumption that the short-term incentive is paid out exclusively in the form of shares and including the estimated value of the matching performance options. The value of the performance options has been estimated under the following assumptions: the number of matching options is based on the share price of CHF 513.20 on 3 February 2020 and the option value of CHF 44.56 (using the binomial method, based on parameters as on 3 February 2020). The number of matching options granted and the final value of the option will only be known at the time of granting and may differ from this valuation. Any such difference is not included in the amount submitted for approval. 3 Corresponds to the fair value of the share options at the time of granting.

Geberit_GV-Einladung_A5_2020_E.indd 11 03.03.20 16:45 ANNEX

The proposed maximum aggregate amount is calculated for six members of the Group Executive Board. It includes:

– annual base salaries;

– benefits: employer contributions to pension plans and estimated employer contributions to social security calculated on the basis of the maximum potential payout under the short-term and the long-term incentive programmes and excluding social security contributions related to equity plans granted in previous years;

– maximum possible payout under the short-term incentive programme if the achievement of all performance objectives reaches the cap level and assuming a maximum investment into the share participation plan with matching performance options. Excludes any change in the share price over the blocking and vesting periods;

– fair value of the options at the time of granting.

Therefore, the maximum aggregate remuneration amount submitted to a shareholders’ vote at the General Meeting is potentially much higher than the amount of remuneration that will be effectively paid out to the members of the Group Executive Board based on the performance achieved.

Geberit_GV-Einladung_A5_2020_E.indd 12 03.03.20 16:45 ANNEX

The following table illustrates the actual remuneration paid out to the members of the Group Executive Board versus the maximum potential remuneration for a period of five years.

0 2017 2018 2019 2020 2021

Amount paid to Group Executive Board Maximum

2017 2018 2019 2020 2021 In TCHF Actual Max. Actual Max. Actual Max. Max. Max. Remuneration 9,608 9,950 8,727 11,300 10,278 11,300 11,500 11,500 Number of Group Executive 6 – 7 – 7 – 7 6 Board members at the time of approval of the max. aggregate remuneration

Effective number of Group 7 – 7 – 7 – – – Executive Board members on 31.12.

The maximum aggregate amount for 2021 remains unchanged compared to the amount approved for 2020. The actual remuneration paid will be disclosed in the 2021 Remuneration Report, which will be submitted to a consultative shareholder vote.

Further information on the remuneration of the Group Executive Board is provided in the 2019 Remuneration Report → www.geberit.com/annualreport > Business report > Remuneration Report.

Geberit_GV-Einladung_A5_2020_E.indd 13 03.03.20 16:45 DOCUMENTS AND ADMISSION CARDS

DOCUMENTS The 2019 Annual Report, the Financial Statements and the Consolidated Financial Statements 2019 as well as the Auditors’ Reports are available for review at the company’s headquarters at Schachenstrasse 77, 8645 Rapperswil-Jona, as of now. The Summary Report on the 2019 business year is enclosed with this invitation. The full Annual Report is available at → www.geberit.com/ annualreport. In case you have any questions, please write an e-mail to → corporate.[email protected].

ADMISSION CARDS Upon return of your response slip, as from 18 March 2020, we will send you the admission card with the voting coupons. Those shareholders who were registered in the share register on 27 March 2020, 5:30 p.m. CET, are entitled to vote. No registrations in the share register will be made from 28 March up to and including 1 April 2020. Shareholders who sell their shares prior to the General Meeting are no longer entitled to vote. If some of the shares have been sold, the delivered admission card must be exchanged at the shareholder desk on the day of the General Meeting.

GRANTING OF PROXIES AND ISSUING OF INSTRUCTIONS BY ELECTRONIC MEANS/ SHERPANY If you would like to use the shareholder platform Sherpany to grant proxies and issue instructions to the Independent Proxy by electronic means, please follow the instructions in the enclosed letter. Any instructions communicated electronically can be changed until 30 March 2020 at 11:59 p.m. CET, at the latest. If you have any questions please contact the hotline +41 (0) 800 808 202 or → [email protected]. Without registration, you will receive your General Meeting documents as usual by mail.

Geberit_GV-Einladung_A5_2020_E.indd 14 03.03.20 16:45 REPRESENTATION AND PROXY

Shareholders who do not personally attend the General Meeting can be represented as follows:

– by another shareholder entitled to vote or their legal representative. The appropriately completed registration form grants proxy. The admission card will be sent directly to the authorised representative. Shareholders already registered on Sherpany who wish to be represented by another shareholder entitled to vote have to request the admission card directly from the share register of Geberit AG → [email protected].

– by the Independent Proxy, hba Rechtsanwälte AG, Bellerivestrasse 28, 8008 Zurich, represented by Roger Müller, lawyer. The appropriately completed registration form grants proxy (it is not necessary to request the admission card). To instruct the Independent Proxy, please use the instruction form on the reverse side of the response slip enclosed with this invitation. By signing the response slip, the shareholder authorises the Independent Proxy to vote in favour of the proposals of the Board of Directors as far as no written instructions to the contrary are given. This also applies in case of any votes held at the General Meeting in relation to proposals which were not included in the invitation.

Rapperswil-Jona, 10 March 2020

Geberit AG On behalf of the Board of Directors The Chairman

Albert M. Baehny

Geberit_GV-Einladung_A5_2020_E.indd 15 03.03.20 16:45 Geberit AG Schachenstrasse 77 CH-8645 Rapperswil-Jona

T +41 (0) 55 221 64 81 F +41 (0) 55 221 62 42

[email protected] www.geberit.com

from Rüti

from Zurich S5 from the motorway Zurich–Uster S7 ”exit Jona“ Jona from St. Gallen Zür Jona from Chur, Glarus cher railway AMAG

strasse station Alte Jonastrasse St. Gallerstrasse Gemeindehaus

asse castle Neue St. Gallerstrasse Jonastrasse ldlistr e Rapperswil Schachenstr F railway station asse Stamp Schmerik on/W fstr attwil asse

from the motorway Rapperswil Eisenbahn P Zurich–Chur Blumenau ”exit Rapperswil“ railway station

P Sporthalle Geberit Grünfeld General asse fstr Meeting Stamp P

Arrival by car When you reach Rapperswil-Jona, signposts will direct you to the designated parking areas. A shuttle service will take you to the venue.

Arrival and departure by train: Rapperswil–Blumenau–Rapperswil Departure Rapperswil Arrival Blumenau 3:33 p.m. 3:35 p.m. (200 m to Sporthalle Grünfeld)

Departure Blumenau Arrival Rapperswil 6:23 p.m. 6:27 p.m. 7:23 p.m. 7:27 p.m.

Bus transfer: Rapperswil railway station–Sporthalle Grünfeld–Rapperswil railway station Transfer 4:00 p.m. from south side of Rapperswil railway station (Hochschule Rapperswil) 6:00 p.m. from Sporthalle Grünfeld (shuttle service)

Geberit_GV-Einladung_A5_2020_E.indd 16 03.03.20 16:45