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Committee Charters

The duties and authorities of the committees are defined in the Committee Charters of the Board of Directors of Sonova Holding AG. The committees report to the Board on their activities and findings. The overall responsibility for duties delegated to the committees remains with the Board.

Audit Committee

Members of the Audit Committee are Dr. Michael Jacobi (Chairman), Ronald van der Vis and Anssi Vanjoki.

Within the context of its overall remit, the Audit Committee reviews on behalf of the Board of Directors the work and effectiveness of the external and internal audit, evaluates the financial control, the financial structure and risk management mechanisms of the company, and reviews the interim and annual financial accounts of the Group.

The Audit Committee also supervises audits to be completed by the internal audit department and reviews the results of these audits (see Committee Charters). The Audit Committee meets at least four times a year, but as often as required. In the reporting period, the Committee met four times.

Nomination and Compensation Committee

The members of the Nomination and Compensation Committee are Robert F. Spoerry (Chairman), Dr. Beat Hess and Stacy Enxing Seng.

The primary task of this Committee is to review and propose to the Board of Directors the compensation structure and the amount for the Board of Directors and the members of the Management Board, and to select and propose to the Board of Directors suitable candidates for election to the Board of Directors and upon recommendation of the CEO for appointment to the Management Board. The Committee submits the relevant proposals and nominations to the Board of Directors (see Committee Charters).

The Nomination and Compensation Committee meets at least three times a year, but as often as required. In the reporting period, the Committee met five times.