— Compensation report — Letter to the shareholders

Zug, February 22, 2021

Dear Shareholder, 

2021 was a landmark year for the medmix team. There are many achievements for us to celebrate, but most notable is our successful listing as an independent company. With this crucial new step came the need to invest in new, improved capabilities that support our growth ambitions for the future. Underpinning this is our policy on reward and compensation.

The purpose of a compensation policy is to enable the company to attract, retain, and motivate the talent that is key to the company’s performance and long-term success. To facilitate our journey towards this goal, medmix’ compensation programs are being designed to reward performance that delivers sustainable growth and long-term shareholder value creation.

During the reporting period, the Board of Directors and the Remuneration Committee began the discussions related to medmix’ compensation policy and programs to ensure that they are built to enhance focus on the company’s strategy and shareholders’ interests. We will communicate on this approach in more depth in due course.

We also reviewed the composition of our Executive Committee and were pleased to announce the appointment of Itee Satpathy as the new Chief Human Resources Officer of medmix. With her broad background in the life sciences industry and experience across the HR function, Itee is well positioned to support our agenda for growth in healthcare.

At the time of our spin-off from Sulzer, we embarked on our journey with a Board of Directors composed of three directors. To better align with market practices, and following the decision of Jill Lee to not stand for re-election as board member, we will propose up to five additional Directors for a shareholder vote at the annual general meeting (AGM). With these proposed additions, we would achieve our maximum target size of seven.

In this report you will find additional information on our activities and governance mechanisms. This compensation report will be submitted for a non-binding, consultative shareholders’ vote at the AGM in April 2022. Shareholders will also vote on the maximum aggregate board compensation for the term from the 2022 AGM to the 2023 AGM and on the maximum aggregate Executive Committee compensation for 2023.

As part of our commitment to effective corporate governance, we will regularly review and assess our compensation programs to ensure they remain effective. We thank you, our shareholders and your representatives, for this opportunity and for your confidence in us.

Sincerely,

Marco Musetti

Chairman of the Remuneration Committee