Remuneration

This report was prepared in accordance with the requirements of the Swiss Code of Obligations. The amounts disclosed comprise the overall remuneration granted to the members of the Board of Directors of Alpiq Holding Ltd. and the Executive Board for the 2021 financial year. Remuneration is recognised in the year of final acquisition of title.

As laid down under the Articles of Association, the Annual General Meeting (AGM) approves the overall remuneration amounts for the Board of Directors and the Executive Board once a year, separately and with binding effect, prospectively for the following financial year. The Board of Directors will continue to extend an invitation to the Annual General Meeting to approve the total compensation of the Board of Directors and the Executive Board once a year by way of separate consultative vote in the reporting year.

Information on Compensation Governance can be found in the relevant passages of the Organisational Regulations and is not listed separately here.

Market-compliant remuneration

To ensure that the remuneration of members of the Executive Board and the Board of Directors conforms to standard market practice, Alpiq regularly engages independent external consultancy firms to evaluate overall remuneration packages relative to the market environment. The most recent market comparison of remuneration of the Board of Directors and Executive Board was performed by HCM Hostettler & Company in mid-2018 at Alpiq’s instigation. The amount and structure of remuneration were analysed, using listed electricity and energy companies in Switzerland and Europe of a similar size with comparable structures and operations, as well as industrial companies as a benchmark.

Remuneration policy

Members of the Board of Directors receive fixed remuneration, additional expense allowances and statutory pension benefits. These components are not performance-related. The amount of fixed remuneration depends on whether an office is held as Chairman or as a Board member, as well as on mandates held in other committees of the Board of Directors. Apart from statutory social security contributions and pension contributions if they have pensions with the Swiss pension fund “Stiftung Pensionskasse Energie” (PKE), members of the Board of Directors do not receive any other pension benefits.

Members of the Executive Board receive a fixed salary and a reward. They also receive a company car allowance, an expense allowance and, if requested, a GA travelcard for 1st class travel. The reward is based on performance and value. The reward is not guided by targets set at the start of the financial year, but is evaluated by the NRC on a discretionary basis, taking into account the value-adding factors that have been achieved. It is approved by the Board of Directors and the Annual General Meeting after the end of the financial year. The reward can range between 0 % and 133 %. All members of the Executive Board are covered by statutory social security and the PKE pension fund.

Remuneration paid to the Board of Directors

Remuneration in 2021

Remuneration in 2020

Remuneration paid to the Executive Board

Each member of the Executive Board was paid an additional annual expense allowance of CHF 24,000, and the highest paid member (CEO) received CHF 30,000. Expense allowances for the Executive Board totalled CHF 117,000 in the current year (previous year: CHF 120,000).

• Michel Kolly resigned from the Executive Board at 26 August 2021.
• Thomas Bucher resigned from the Executive Board at 31 August 2021.
• At 1 March 2021, Antje Kanngiesser was appointed CEO and member of the Executive Board.
• At 1 September 2021, Luca Baroni was appointed CFO and member of the Executive Board.
• At 1 November 2021, Alexandra Machnik was appointed Head of Corporate Services and member of the Executive Board.