Report of the Statutory Auditor to the General Meeting of Shareholders of Bystronic AG, Zurich
We have audited the accompanying remuneration report dated March 11, 2022 of Bystronic AG for the year ended December 31, 2021. The audit was limited to the information according to articles 14-16 of the Ordinance against Excessive compensation in Stock Exchange Listed Companies contained in the tables “Compensation of the Board of Directors for the 2021/2022 term of office”, “Compensation of the Board of Directors for the 2020/2021 term of office”, “Compensation of the former Executive Committee”, “Compensation of the Executive Committee for the financial year 2020” and “Compensation of the Executive Committee for the financial year 2021” on pages 80-84 of the compensation report.
Responsibility of the Board of Directors
The Board of Directors is responsible for the preparation and overall fair presentation of the remuneration report in accordance with Swiss law and the Ordinance against Excessive compensation in Stock Exchange Listed Companies (Ordinance). The Board of Directors is also responsible for designing the remuneration system and defining individual remuneration packages.
Our responsibility is to express an opinion on the accompanying remuneration report. We conducted our audit in accordance with Swiss Auditing Standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the remuneration report complies with Swiss law and articles 14-16 of the Ordinance.
An audit involves performing procedures to obtain audit evidence on the disclosures made in the remuneration report with regard to compensation, loans and credits in accordance with articles 14-16 of the Ordinance. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatements in the remuneration report, whether due to fraud or error. This audit also includes evaluating the reasonableness of the methods applied to value components of remuneration, as well as assessing the overall presentation of the remuneration report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In our opinion, the remuneration report for the year ended December 31, 2021 of Bystronic AG complies with Swiss law and articles 14-16 of the Ordinance.
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Auditor in Charge
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Zurich, March 11, 2022