Compensation policy

• Fixed compensation is the primary component of compensation for executive management and employees.
• Variable compensation is limited, linked to long-term objectives, and may be reduced or eliminated in the event of risk or compliance incidents.
• Compensation for the board of directors is fixed and not performance-based.
• The compensation structure is reviewed by the board of directors at least annually.

The policy is aligned with the Company's risk profile, investment strategy, and long-term interests. Variable compensation is determined on the basis of long-term operating results and an overall assessment that includes adherence to operating procedures, risk limits, and compliance requirements.

Identified risk takers are subject to stricter principles, including deferred payment and the potential withholding of compensation in the event of subsequent negative results (malus).

The key elements of the policy are published as part of the Company's overall documentation and are included in the independent audit. The board of directors reviews the policy as a separate agenda item at least once a year.