Personalstiftung der Zweigniederlassung IWC SCHAFFHAUSEN, Branch of Richemont International SA

The foundation's assets and its returns are to be used exclusively for voluntary welfare services in cases of old age, death, disability, illness and accident, including cases of unprovoked financial hardship, for the benefit of employees of IWC Schaffhausen (or its legal successor) and/or persons closely related to them. Employees as beneficiaries in the aforementioned sense include (i) active employees, (ii) former employees who have been receiving old-age pensions since their retirement from IWC Schaffhausen (or its legal predecessor) and (iii) those who have been receiving disability benefits since leaving IWC Schaffhausen (or its legal predecessor).