CPH Group AG has various pension plans in place, which are each aligned to local conditions and requirements in the countries concerned. The table below gives an overview of their funding surpluses and funding deficits and the economic shares attributable to the employer:

‘Pension plans with surplus’ refers to the CPH Group AG Pension Scheme, which is domiciled in Root (Switzerland) and to which are also affiliated the Perlen Industrieholding AG and UBV Holding AG corporate groups originating also from the former Uetikon chemicals factory. This is a legally autonomous foundation with a board of trustees on which employer and employees are equally represented. The CPH Group AG Pension Scheme meets the occupational pension provision needs of CPH Group AG’s Swiss-based companies under its own responsibility on a defined- contributions basis. Benefits are determined on the basis of each member’s accumulated individual retirement savings. They therefore depend on the savings contributions made, any vested benefits paid in and any further buy-in amounts, in each case including interest. The scheme is funded by statutorily prescribed employer’s and employees’ contributions. The existence of any funding surplus or deficit is determined on the basis of the scheme’s annual financial statements (after deduction of fluctuation reserves), which are compiled in accordance with Swiss GAAP FER 26. At the end of 2024, the scheme showed a funding surplus of CHF 10.3 million (prior year: CHF 3.5 million). Any such funding surplus is available in full to the scheme’s beneficiaries, which is why no economic share is capitalized.

The ‘Patronage fund’ refers to the CPH Group AG Assistance Fund, which is domiciled in Buchrain (Switzerland). This is provided for all Swiss-based employees, and also has affiliated to it the Perlen Industrieholding AG and UBV Holding AG corporate groups originating also from the former Uetikon chemicals factory, though the fund maintains separate funding surplus/deficit accounts for each of these groups. The fund provides both regular occupational pension benefits and financial assistance for employees and their families in hardship situations The fund can also be used to finance the employer’s contributions to the occupational pension schemes of CPH Group AG’s Swiss-based companies. The existence of any funding surplus or deficit is determined on the basis of the fund’s annual financial statements (after deduction of fluctuation reserves), which are compiled in accordance with Swiss GAAP FER 26. At the end of 2024 the fund showed a funding surplus assignable to CPH Group AG of CHF 6.0 million (prior year: CHF 13.8 million). This surplus is available in full to the employer, which is why the corresponding amount is capitalized as an economic share under financial assets. The year-on-year change in the funding surplus amount is attributable largely to the spin-off of the former Paper Division with effect from 25 June 2024.

‘Pension plans with deficit’ includes for 2023 a defined-benefits pension plan in the USA which had been frozen since the end of 2015. This plan was liquidated in 2024. The liquidation gain of CHF 1.1 million resulted in a corresponding reduction in occupational pension expense.

‘Pension plans without surplus/deficit’ includes a defined-contributions 401(k) pension plan in the USA and other non-significant pension plans in other countries. Such plans have neither a funding surplus nor a funding deficit, so no economic shares are recognized on the balance sheet.

CPH Group AG had accumulated an employer contribution reserve in previous years. This developed as follows in 2024: