1.2 Election of Ulf Berg as Chairman of the Board of Directors

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3 Kuoni Group Agenda 1. Elections 1.1 Election of the Board of Directors Election of Ulf Berg The Board of Directors proposes that, in case the public tender offer by EQT is successful, Ulf Berg be elected as a new member of the Board of Directors for a term of office from the date of the settlement of the public tender offer to the end of the subsequent Annual General Meeting Election of Michael Bauer The Board of Directors proposes that, in case the public tender offer by EQT is successful, Michael Bauer be elected as a new member of the Board of Directors for a term of office from the date of the settlement of the public tender offer to the end of the subsequent Annual General Meeting Election of Thomas Geiser The Board of Directors proposes that, in case the public tender offer by EQT is successful, Thomas Geiser be elected as a new member of the Board of Directors for a term of office from the date of the settlement of the public tender offer to the end of the subsequent Annual General Meeting. The CVs of Ulf Berg, Michael Bauer and Thomas Geiser are available on pages 14 and 15 of this invitation and online on Kuoni Group s website ( Explanation As announced in its press release of 2nd February 2016, the full Board of Directors has agreed to resign in case of the success of the public tender offer by EQT, acting through Kiwi Holding IV S.à r.l. In the same press release, the Board of Directors announced that it will support the public tender offer by EQT, acting through Kiwi Holding IV S.à r.l. This results in the departure of Heinz Karrer, Adrianus (Adriaan) Nühn, Jae Hyun (Jay) Lee, John Lindquist, David Schnell, Annette Schömmel and Selina Neri on the date of settlement of the public tender offer by EQT, acting through Kiwi Holding IV S.à r.l. Therefore, the Board of Directors is proposing the election of Ulf Berg, Michael Bauer and Thomas Geiser. 1.2 Election of Ulf Berg as Chairman of the Board of Directors The Board of Directors proposes that, in case the public tender offer by EQT is successful, Ulf Berg be elected as Chairman of the Board of Directors for a term of Extraordinary general meeting of Kuoni Travel Holding Ltd 01

4 Agenda office from the date of the settlement of the public tender offer to the end of the subsequent Annual General Meeting. 1.3 Election of the Members to the Compensation Committee Election of Ulf Berg The Board of Directors proposes that, in case the public tender offer by EQT is successful, Ulf Berg be elected as a new member of the Compensation Committee for a term of office from the date of the settlement of the public tender offer to the end of the subsequent Annual General Meeting Election of Michael Bauer The Board of Directors proposes that, in case the public tender offer by EQT is successful, Michael Bauer be elected as a new member of the Compensation Committee for a term of office from the date of the settlement of the public tender offer to the end of the subsequent Annual General Meeting. 2. Amendment of the Articles of Incorporation The Board of Directors proposes that, in case the public tender offer by EQT is successful, the Articles of Incorporation be amended to remove the shareholder registration limitations and the voting right limitations as described hereunder. The resolutions regarding the amendment of the Articles of Incorporation pursuant to this agenda item 2 are subject to the condition that the public tender offer of EQT will be successful. The amendment of the Articles of Incorporation will be filed for registration with the commercial register at the publication date of the settlement notice of the public tender offer of EQT. Article 3 bis Conditional Share Capital (deletion of para. 3 and 6) Existing version The share capital may be increased by a maximum amount of CHF by the issuance of up to fully paid registered shares, Category B, with a par value of CHF 1. each, through the exercise of conversion rights and/or warrants issued New version proposed by the Board of Directors The share capital may be increased by a maximum amount of CHF by the issuance of up to fully paid registered shares, Category B, with a par value of CHF 1. each, through the exercise of conversion rights and/or warrants issued 02

5 Kuoni Group in connection with bonds or other financial market instruments by the Company or one of its group companies and/or through the exercise of warrant rights granted to the shareholders. The pre-emptive rights of the shareholders shall be excluded in connection with the issuance of bonds or other financial market instruments with conversion rights or warrants attached to them. The then current owners of conversion rights and/or warrants shall be entitled to subscribe for the new registered shares. The conditions of the conversion rights and/or warrants shall be determined by the Board of Directors. The acquisition of registered shares through the exercise of conversion rights and/or warrants and each subsequent transfer of the registered shares shall be subject to the restrictions of Article 5 of these Articles of Incorporation. In connection with the issuance of bonds or other financial market instruments with conversion rights and/or warrants attached to them the Board of Directors shall be authorized to restrict or cancel the advance subscription rights of the shareholders if the issuance is for the purpose of financing, including refinancing, the acquisition of an enterprise, parts of an enterprise, participations or the expansion of business activities and/or the issuance occurs on the national or international capital markets. If the advance subscription rights are neither directly nor indirectly preserved by a resolution of the Board of Directors, the bonds or other financial market instruments shall be issued at the relevant market conditions, the new registered shares shall be issued in accordance with market conditions, having due regard to the stock exchange price of the registered shares and/or comparable instruments having a market price, and conversion rights may be exercised during in connection with bonds or other financial market instruments by the Company or one of its group companies and/or through the exercise of warrant rights granted to the shareholders. The pre-emptive rights of the shareholders shall be excluded in connection with the issuance of bonds or other financial market instruments with conversion rights or warrants attached to them. The then current owners of conversion rights and/or warrants shall be entitled to subscribe for the new registered shares. The conditions of the conversion rights and/or warrants shall be determined by the Board of Directors. In connection with the issuance of bonds or other financial market instruments with conversion rights and/or warrants attached to them the Board of Directors shall be authorized to restrict or cancel the advance subscription rights of the shareholders if the issuance is for the purpose of financing, including refinancing, the acquisition of an enterprise, parts of an enterprise, participations or the expansion of business activities and/or the issuance occurs on the national or international capital markets. If the advance subscription rights are neither directly nor indirectly preserved by a resolution of the Board of Directors, the bonds or other financial market instruments shall be issued at the relevant market conditions, the new registered shares shall be issued in accordance with market conditions, having due regard to the stock exchange price of the registered shares and/or comparable instruments having a market price, and conversion rights may be exercised during Extraordinary general meeting of Kuoni Travel Holding Ltd 03

6 Agenda a maximum 10-year period, and warrants may be exercised during a maximum 7-year period, in each case from the date of the respective issuance. The share capital may, under the exclusion of the Shareholders pre-emptive rights, be increased by a maximum amount of CHF by the issuance of up to fully paid registered shares, Category B, with a par value of CHF 1. each, through the exercise of pre-emptive rights and warrants granted to employees of the Company and group companies according to one or more subscription rights plans. Registered shares may be issued to employees at a price lower than that quoted on the stock exchange. The Board of Directors shall determine the particulars of the issuance conditions. The acquisition of shares within the context of employee share ownership and each subsequent transfer of the registered shares shall be subject to the restrictions of Article 5 of these Articles of Incorporation. a maximum 10-year period, and warrants may be exercised during a maximum 7-year period, in each case from the date of the respective issuance. The share capital may, under the exclusion of the Shareholders pre-emptive rights, be increased by a maximum amount of CHF by the issuance of up to fully paid registered shares, Category B, with a par value of CHF 1. each, through the exercise of pre-emptive rights and warrants granted to employees of the Company and group companies according to one or more subscription rights plans. Registered shares may be issued to employees at a price lower than that quoted on the stock exchange. The Board of Directors shall determine the particulars of the issuance conditions. Article 5 Share Register, Restrictions on Transfer of Shares, Nominees (deletion of para. 2, 3, 4 and 9, with the exception of the first sentence of para. 9, and cancellation of the words and the percentage limitation in Article 5 paragraph 2 of para. 8) Existing version With respect to registered shares, the Company shall maintain a share register indicating the name and first name (in the case of legal entities the name), address and nationality (in the case of legal entities the registered office) of the holders and usufructuaries of registered shares. A person registered in the share register has to notify the Company of a change of New version proposed by the Board of Directors With respect to registered shares, the Company shall maintain a share register indicating the name and first name (in the case of legal entities the name), address and nationality (in the case of legal entities the registered office) of the holders and usufructuaries of registered shares. A person registered in the share register has to notify the Company of a change of 04

7 Kuoni Group address. Unless such notification has been made, all notifications are validly made to the address indicated in the share register. Without prejudice to Article 5 paragraph 9 of these Articles of Incorporation, the Board of Directors shall deny the registration of an acquirer of registered shares as the holder or the usufructuary of the registered shares with the right to vote if the acquirer, as a result of the registration as a shareholder with the right to vote, were to acquire, or collectively hold, directly or indirectly, more than 3% of the registered share capital entered in the commercial register. With respect to the registered shares exceeding the 3% limitation, the acquirer shall be registered in the share register as a holder or usufructuary of the registered shares without the right to vote. Legal entities or partnerships that are interrelated to one another through capital ownership, voting rights, uniform management or that are otherwise linked with one another, as well as individual persons or legal entities or partnerships who act in concert for the purpose of circumventing the limitation for registration in the share register, shall, for the purpose of the preceding paragraph, be treated as one single acquirer. The limitation for registration in the share register set forth in paragraph 2 of this Article shall, subject to article 652b para. 3 CO, also apply to registered shares which are acquired through the exercise of pre-emptive rights, warrants and conversion rights. The limitation for registration in the share register shall not apply to an acquisition of registered shares by succession, division of estate or marital property law. Other than set forth above, acquirers of registered shares shall be registered in the share register as shareholders with the right to vote upon their application, address. Unless such notification has been made, all notifications are validly made to the address indicated in the share register. Acquirers of registered shares shall be registered in the share register as shareholders with the right to vote upon their application, provided, however, that Extraordinary general meeting of Kuoni Travel Holding Ltd 05

8 Agenda provided, however, that they expressly declare that they have acquired the registered shares in their own name and for their own account. The Board of Directors may register individual persons who do not expressly declare that they hold the registered shares for their own account ( Nominees ) in the share register with the right to vote if the Nominee has entered into an agreement with the Board of Directors with respect to its position and if the Nominee is subject to a recognized bank or financial market supervision. After having heard the person concerned, the Board of Directors may cancel his registration in the share register as a shareholder or Nominee with the right to vote with retroactive effect as of the date of registration if such registration was made based on incorrect information of the acquirer and register such shareholder or Nominee in the share register as shareholder or Nominee without the right to vote. The respective shareholder shall be immediately informed of the cancellation of the registration. The Board of Directors shall specify the particulars and give the necessary directions to ensure compliance with the preceding paragraphs. In particular cases it may allow exemptions from the regulation regarding Nominees and the percentage limitation in Article 5 paragraph 2. For this purpose, the Board of Directors shall issue a regulation. The Board of Directors may delegate its duties. The vested rights of the shareholders (including their successors in law by succession, division of estate or marital property law or statutory merger or contribution in kind to a directly and one hundred percent controlled holding company) registered in the share register as of February 25, 1995, shall remain unaffected. The limitations set forth in this they expressly declare that they have acquired the registered shares in their own name and for their own account. The Board of Directors may register individual persons who do not expressly declare that they hold the registered shares for their own account ( Nominees ) in the share register with the right to vote if the Nominee has entered into an agreement with the Board of Directors with respect to its position and if the Nominee is subject to a recognized bank or financial market supervision. After having heard the person concerned, the Board of Directors may cancel his registration in the share register as a shareholder or Nominee with the right to vote with retroactive effect as of the date of registration if such registration was made based on incorrect information of the acquirer and register such shareholder or Nominee in the share register as shareholder or Nominee without the right to vote. The respective shareholder shall be immediately informed of the cancellation of the registration. The Board of Directors shall specify the particulars and give the necessary directions to ensure compliance with the preceding paragraphs. In particular cases it may allow exemptions from the regulation regarding Nominees. For this purpose, the Board of Directors shall issue a regulation. The Board of Directors may delegate its duties. The vested rights of the shareholders (including their successors in law by succession, division of estate or marital property law or statutory merger or contribution in kind to a directly and one hundred percent controlled holding company) registered in the share register as of February 25, 1995, shall remain unaffected. 06

9 Kuoni Group Article 5 shall neither apply to those registered shares that the shareholders registered in the share register as of February 25, 1995 or their aforementioned successors in law, respectively, have or will have acquired through the exercise of pre-emptive rights, warrants or conversion rights attached to the registered shares registered in the share register as of February 25, 1995 and registered shares derived therefrom. Article 13 Right to Vote, Representation of Shareholders (cancellation of the second and third sentence of para. 1 and deletion of para. 2 and 5, with the exception of the first sentence of para. 5) Existing version Each share carries the entitlement to one vote. In the exercise of voting rights no shareholder shall aggregate with respect to his own shares or shares held as a representative, directly or indirectly, more than 3% of the registered share capital set forth in the commercial register. This limitation on voting rights shall not apply to the Independent Proxy or to shareholders registered in the share register with more than 3% of the registered share capital set forth in the commercial register (Article 5 paragraph 9 of these Articles of Incorporation). Legal entities or partnerships that are interrelated to one another through capital ownership, voting rights, uniform management or that are otherwise linked with one another, as well as individual persons or legal entities or partnerships who act in concert for the purpose of circumventing the limitation for registration in the share register, shall, for the purpose New version proposed by the Board of Directors Each share carries the entitlement to one vote. Extraordinary general meeting of Kuoni Travel Holding Ltd 07

10 Agenda of the preceding paragraph, be treated as one single acquirer. The Board of Directors shall issue procedural rules regarding the participation in, and the representation at, the Shareholders Meeting. A shareholder may only be represented by his legal representative, by representatives acting under written proxies that need not be shareholders, or by the Independent Proxy. All shares held by a shareholder may be represented by one person only. The members of the Board of Directors present at the Shareholders Meeting shall decide whether powers of attorney are to be recognized. The vested rights of the shareholders (including their successors in law by succession, division of estate or marital property law or statutory merger or contribution in kind to a directly and one hundred percent controlled holding company) registered in the share register as of February 25, 1995, shall remain unaffected. The limitations set forth in this Article 13 shall neither apply to those registered shares that the shareholders registered in the share register as of February 25, 1995 or their aforementioned successors in law, respectively, have or will have acquired through the exercise of pre-emptive rights, warrants or conversion rights attached to the registered shares registered in the share register as of February 25, 1995 and registered shares derived therefrom. The Board of Directors shall issue procedural rules regarding the participation in, and the representation at, the Shareholders Meeting. A shareholder may only be represented by his legal representative, by representatives acting under written proxies that need not be shareholders, or by the Independent Proxy. All shares held by a shareholder may be represented by one person only. The members of the Board of Directors present at the Shareholders Meeting shall decide whether powers of attorney are to be recognized. The vested rights of the shareholders (including their successors in law by succession, division of estate or marital property law or statutory merger or contribution in kind to a directly and one hundred percent controlled holding company) registered in the share register as of February 25, 1995, shall remain unaffected. Article 14 Independent Proxy (deletion of para. 9) Existing version The Shareholders Meeting elects an Independent Proxy. Private individuals, New version proposed by the Board of Directors The Shareholders Meeting elects an Independent Proxy. Private individuals, 08

11 Kuoni Group legal entities and partnerships are eligible for election. The Independent Proxy must be independent in fact and in appearance; article 728 para. 2-6 CO is applicable. The term of office of the Independent Proxy ends with the closing of the ordinary Shareholders Meeting following the election of the Independent Proxy. Reelection is admissible. If the Company has no Independent Proxy, the Board of Directors designates an Independent Proxy for the next Shareholders Meeting. The Shareholders Meeting may dismiss the Independent Proxy with effect as from the end of the Shareholders Meeting. The Independent Proxy exercises his or her duties in accordance with the applicable legal provisions. The Board of Directors makes sure that the shareholders may give to the Independent Proxy 1. instructions with respect to each motion contained in the invitation concerning agenda items; and 2. general instructions with respect to unannounced motions to agenda items as well as to new agenda items pursuant to article 700 para. 3 CO. The Company further makes sure that the shareholders may submit their proxies and their instructions, also by electronic means, to the Independent Proxy at the latest until 4 pm on the second working day prior to the date of the Shareholders Meeting. Compliance with this term is determined based on the receipt of the proxy and the instructions by the Independent Proxy. The Board of Directors determines the procedures for giving proxies and instructions by electronic means. The Independent Proxy is obligated to vote the shares for which it received proxies in accordance with the instructions given. If he or she has not received any legal entities and partnerships are eligible for election. The Independent Proxy must be independent in fact and in appearance; article 728 para. 2-6 CO is applicable. The term of office of the Independent Proxy ends with the closing of the ordinary Shareholders Meeting following the election of the Independent Proxy. Reelection is admissible. If the Company has no Independent Proxy, the Board of Directors designates an Independent Proxy for the next Shareholders Meeting. The Shareholders Meeting may dismiss the Independent Proxy with effect as from the end of the Shareholders Meeting. The Independent Proxy exercises his or her duties in accordance with the applicable legal provisions. The Board of Directors makes sure that the shareholders may give to the Independent Proxy 1. instructions with respect to each motion contained in the invitation concerning agenda items; and 2. general instructions with respect to unannounced motions to agenda items as well as to new agenda items pursuant to article 700 para. 3 CO. The Company further makes sure that the shareholders may submit their proxies and their instructions, also by electronic means, to the Independent Proxy at the latest until 4 pm on the second working day prior to the date of the Shareholders Meeting. Compliance with this term is determined based on the receipt of the proxy and the instructions by the Independent Proxy. The Board of Directors determines the procedures for giving proxies and instructions by electronic means. The Independent Proxy is obligated to vote the shares for which it received proxies in accordance with the instructions given. If he or she has not received any Extraordinary general meeting of Kuoni Travel Holding Ltd 09

12 Agenda instructions with respect to votes, he or she abstains from voting the respective shares. Granting a proxy to the Independent Proxy does not constitute a violation of the limitation of voting rights according to Article 13 paragraph 1 of the Articles of Incorporation and no formation of a group in the sense of paragraph 2 of the mentioned provision. Each shareholder remains to be bound unconditionally to the provisions about the limitation of voting rights, also in the case of a proxy to the Independent Proxy. If the Independent Proxy is not in a position to act or if the Company has no Independent Proxy, the proxies and instructions given are regarded as given to the Independent Proxy determined by the Board of Directors pursuant to paragraph 3. instructions with respect to votes, he or she abstains from voting the respective shares. If the Independent Proxy is not in a position to act or if the Company has no Independent Proxy, the proxies and instructions given are regarded as given to the Independent Proxy determined by the Board of Directors pursuant to paragraph 3. Article 16 Supermajority for Important Resolutions (deletion of no. 3) Existing version The following resolutions of the Shareholders Meeting shall, in order to be valid, require at least two thirds of the votes represented and the majority of the par value of the shares represented: 1. the amendment of the Articles of Incorporation, including the change of the Company s purpose; 2. the creation of shares with privileged voting rights; 3. the restriction or relaxation of the transferability of registered shares; 4. an authorized or conditional increase in capital; 5. the increase in capital out of equity, against contribution in kind or for the purpose of an acquisition of assets New version proposed by the Board of Directors The following resolutions of the Shareholders Meeting shall, in order to be valid, require at least two thirds of the votes represented and the majority of the par value of the shares represented: 1. the amendment of the Articles of Incorporation, including the change of the Company s purpose; 2. the creation of shares with privileged voting rights; 3. an authorized or conditional increase in capital; 4. the increase in capital out of equity, against contribution in kind or for the purpose of an acquisition of assets 10

13 Kuoni Group and the grant of special benefits; 6. the limitation or exclusion of pre-emptive rights; 7. the change of the registered office of the Company; and 8. the dissolution of the Company with liquidation or as a result of a statutory merger. and the grant of special benefits; 5. the limitation or exclusion of pre-emptive rights; 6. the change of the registered office of the Company; and 7. the dissolution of the Company with liquidation or as a result of a statutory merger. Explanation Under the existing Article 5 of the Articles of Incorporation, the registration of an acquirer of Kuoni Travel Holding Ltd s shares in the share register as a shareholder with voting right is limited to 3% of the registered share capital, unless he/she has been registered in the share register since at least 25th February Furthermore, under Article 13 of the Articles of Incorporation, the same 3% limitation applies to the exercise of voting rights at Kuoni Travel Holding Ltd s General Meeting. In case the public tender offer of EQT, acting through Kiwi Holding IV S.à r.l., is successful, the Board of Directors asks the Extraordinary General Meeting to remove the registration and voting right limitations. 3. Any other business Extraordinary general meeting of Kuoni Travel Holding Ltd 11

14 General Information General Information Right to vote All holders of registered shares who are entered with voting rights in the share register of Kuoni Travel Holding Ltd as of 8th April 2016 will automatically receive an invitation to the Extraordinary General Meeting, including the motions by the Board of Directors by mail. Kuoni requests its shareholders to order their admission cards online or to issue the independent proxy with powers of attorney and instructions for exercising voting rights online. Access information for the online platform (the ShareCommService AG platform is being used for the first time) is printed on the reply coupon. If you have any questions, you will find contact information for support on the platform homepage. All holders of registered shares who will be entered in the share register after 8th April 2016 but before 27th April 2016 will receive the invitation to the Extraordinary General Meeting by post after they have been entered in the share register. No entries in the share register will be made as from 27th April Admission cards Written registration In order to participate in person at the Extraordinary General Meeting, the shareholders can request their admission cards by using the enclosed form Registration for personal attendance / Power of attorney to a representative. This duly completed and signed form Registration for personal attendance / Power of attorney to a representative should be returned to the following address: Kuoni Travel Holding Ltd c/o ShareCommService AG Europastrasse 29 CH 8152 Glattbrugg Electronic registration If you would like to take part in the Extraordinary General Meeting in person, you can also order the admission cards online. Access information for the online platform is printed on the reply coupon. The admission cards can also be obtained by presenting the form Registration for 12

15 Kuoni Group personal attendance / Power of attorney to a representative at the entry desk on the day of the Extraordinary General Meeting. Admission cards which have already been issued lose their validity if the relevant shares are disposed of before the Extraordinary General Meeting. Representation and proxy Shareholders who will not participate in person at the Extraordinary General Meeting may be represented by a legal representative or as follows: a) By giving written proxy to a third person who does not need to be a shareholder: The written proxy can be given directly on the form Registration for personal attendance / Power of attorney to a representative. Admission cards which have already been issued can also be handed over subsequently to the representative. In this case, the written proxy is to be given on the reverse of the admission card. The duly completed and signed admission card has to be handed over to the representative in advance of the Extraordinary General Meeting. b) By the independent proxy according to Art. 14 of the Articles of Incorporation, REBER Rechtsanwälte, Utoquai 55, P.O. Box 926, CH 8034 Zurich: For granting power of attorney and issuing instructions to the independent proxy, the duly completed form Power of attorney and instructions on the exercise of voting rights to the independent proxy (attached) should be signed and returned to the independent proxy by Thursday 28th April 2016, 4.00 p.m. at the latest (time of receipt). A separate envelope which is addressed to the independent proxy is also attached to the invitation. Alternatively, shareholders can issue powers of attorney and instructions to the independent proxy electronically via the online platform by Thursday 28th April 2016, 4.00 p.m. at the latest. If a shareholder issues instructions to the independent proxy electronically as well as in writing, the last instructions issued will apply. Exercise of votes The votes will be exercised at the Extraordinary General Meeting by an electronic voting system (Televoting). Restrictions on voting rights Shareholders are reminded of the restrictions on voting rights specified in Art. 13 of the Articles of Incorporation. Extraordinary general meeting of Kuoni Travel Holding Ltd 13

16 General Information / Curricula Vitae Simultaneous interpreting The Extraordinary General Meeting will be held in German, though individual contributions may also be made in English. Simultaneous English and German translations will be offered throughout the meeting. Headphones will be available in the foyer. Refreshments All shareholders are invited to refreshments after the Extraordinary General Meeting. The Board of Directors Kuoni Travel Holding Ltd Zurich, 11th April 2016 Curricula Vitae Curriculum Vitae Ulf Berg Dr. Ulf Berg is a partner of the investment company BLR & Partners Ltd. in Thalwil / Zurich, which focuses on developing smaller industrial companies. Since August 2007 he has been Chairman of the Board of Directors of Ems Chemie Holding AG. He worked for ABB (formerly BBC) in various executive power generation positions in Switzerland and abroad for more than 20 years until In 1999, he joined Carlo Gavazzi Holding AG, first as COO and then CEO. From 2003 to 2004, he was CEO of SIG Beverages Int. AG before moving to Sulzer AG as CEO in After three years as CEO, he was appointed Chairman of the Board of Directors of Sulzer AG, a position he held until From he was a Member of the Board of Swissmem, the Swiss Industry Association and since 2006 he has been a Member of the Board of Directors of Bobst SA. He is Chairman and a Member of the Board of Directors of various portfolio companies of BLR & Partners AG as well as a Member of the Board of Directors of Greater Zurich Area AG and Am-Tec Kredit AG. Dr. Ulf Berg is an industrial advisor to EQT, the private equity house with industrial roots in the Wallenberg Group. Dr. Ulf Berg is a Swiss national and was born in He is a graduate engineer and has a Ph.D. in Mechanical Engineering from the Technical University of Denmark, Copenhagen. 14

17 Kuoni Group Curriculum Vitae Michael Bauer Michael Bauer is a partner at EQT Partners in Zurich and is responsible for EQT s buyout activities in Switzerland. Michael Bauer joined EQT in 2009 and since then has worked in EQT s Zurich, Stockholm and Munich offices. He was involved in a number of EQT s investments over the past few years and is the responsible partner for the investments in BSN medical (Germany) and Lima Corporate (Italy). In this context, he is a member of the advisory board of both companies. Before joining EQT, Michael Bauer worked as an Investment Professional at Capvis, a Swiss private equity fund, from 2003 to Before that, he worked at Credit Suisse in the investment bank division from 2002 to Michael Bauer is a Swiss national and was born in He holds a degree in business administration (lic.oec.) from the University of St. Gallen and an MBA from the University of Chicago Booth School of Business. Curriculum Vitae Thomas Geiser Professor Dr. Thomas Geiser, a Swiss national born in 1952, has been a member of the Foundation Council of the Kuoni and Hugentobler Foundation since Thomas Geiser studied law at the University of Basel and later earned a doctorate in law there. Since 1995, he has been a Professor of Private and Commercial Law at the University of St. Gallen (HSG) and presides as Managing Director over the Research Institute for Economic and Labour Law. That same year, he took up the position of part-time judge in the Swiss Federal Supreme Court. Thomas Geiser was initially assigned to the First Civil Division before changing over to the Second Civil Division in 2009 of which he has been a member to date. Thomas Geiser was Vice-Rector of the University of St. Gallen between 1999 and 2003 and Chairman of its Law Department from 2007 to Since 2009, he has been a Member of the Board of Directors of ALDI Suisse AG. Extraordinary general meeting of Kuoni Travel Holding Ltd 15

18 Directions Since there are only a limited number of parking spaces available at the Renaissance Zurich Tower Hotel, we recommend that shareholders use public transport. Regular local trains (S-Bahn; e.g. S3 / S5 / S6 / S7 / S9 / S12 / S16) leaving from platforms 41/42 of Zurich main station will take you to Zurich Hardbrücke station in approx. five minutes. The hotel is in approx. eight minutes walking distance from Zurich Hardbrücke station. Pe Te k Pfingstweidstrasse Renaissance Zurich Tower Hotel Turbinenstrasse Hardbrücke Pe ke 16

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