Remuneration of the Management Board - Zurich Airport Ltd.

2. Remuneration of the Management Board

a) for the reporting period (2023):

(in CHF)	Salary	Variable remuneration (cash) 1)	Variable remuneration (shares) 1)	Pension and social insurance contributions 2)	Miscellaneous 3)	Total CHF	Number of shares 4)	Share price (CHF) 4)
Recipient
Lukas Brosi (CEO since May 2023, previously CFO)	365,004	305,328	152,246	199,966	26,044	1,048,588	867	175.60
Other members of the Management Board	1,901,199	978,759	418,279	827,737	132,238	4,258,212	2,382	175.60
Total	2,266,203	1,284,087	570,525	1,027,703	158,282	5,306,800	3,249

Total amount approved by the Annual General Meeting						6,000,000

1) The allocation is rounded down to a whole number of shares and any remainder is added to the cash component. This may result in a slight change in the apportionment of the variable remuneration between cash and equity components, but the total amount remains unchanged.

2) Social insurance contributions excl. pension fund calculated on a blanket basis.

3) Miscellaneous includes representation expenses and the company car, in individual cases it can also include other items such as a long-service gift.

4) The number of shares stated above is based on the share price at year-end. The definitive number of shares is calculated on the basis of the share price at the payment date.

Remuneration of members of the Management Board was effected as shown in the above table. The variable component is based on the degree to which the target for the company’s success set by the Board of Directors for the respective financial year was achieved. The salaries of the other members of the Management Board was increased by 3% over the previous year in the reporting period, in line with inflation. The CEOʼs salary was not increased in line with inflation owing to the staff-related change. The salaries of the new CEO and of the CFO who joined during the reporting period will be brought into line with the defined CEO and CFO salaries in stages.

In the reporting year, total variable compensation (cash and share component) for individual members of the Management Board amounted to between 37% and 148% of their fixed salary and, as the target was achieved, is close to the maximum target bonus of 150%. In the previous year, the level of target achievement was reduced by the Board of Directors, taking due account of special factors, and set at 130%.

The variable remuneration (cash and share components) is accrued for the reporting period and paid out in the spring of the following year. The aggregate variable remuneration (cash and share components) amounts to between 50% and 100% of the fixed salary for individual members of the Management Board. Shares awarded as a component of variable remuneration are blocked for a period of four years (see also Financial report, Consolidated financial statements according to IFRS, Notes to the consolidated financial statements, note 3, Personnel expenses). No long-term remuneration or joining bonus or severance payments were made in 2023.

b) for the prior year (2022):

(in CHF)	Salary	Variable remuneration (cash) 1)	Variable remuneration (shares) 1)	Pension and social insurance contributions	Miscellaneous 2)	Total CHF	Number of shares 3)	Share price (CHF) 3)
Recipient
Stephan Widrig (CEO)	420,000	363,977	182,023	254,763	27,818	1,248,581	1,272	143.10
Other members of the Management Board 4)	1,695,027	749,152	320,115	752,913	171,332	3,688,539	2,237	143.10
Total	2,115,027	1,113,129	502,138	1,007,676	199,150	4,937,120	3,509

Total amount approved by the Annual General Meeting						5,500,000

2) Miscellaneous includes representation expenses and the company car, in individual cases it can also include other items such as a long-service gift.

3) The number of shares stated above is based on the share price at year-end. The definitive number of shares is calculated on the basis of the share price at the payment date.

4) A new member joined the Management Board on 1 June 2022.