Dear Shareholders

The current Board of Directors and its committees (in particular the Nomination and Compensation Committee) began their work with the IPO on 12 June 2020. In Marc Pointet who started with us on 1 June 2020, we acquired a CEO with a wealth of experience in the real estate market. Despite the impact of the coronavirus pandemic, Ina Invest was able to develop extremely well during its first year of business thanks to the excellent cooperation between the CEO and the Board of Directors.

During this first year, the Nomination and Compensation Committee (NCC) has focused on implementing the remuneration system and the policy pertaining to it (particularly the Restricted Share Unit Plan), as well as on determining and evaluating targets for the CEO in the context of the Short Term Incentive Plan (STIP) for the 2020 and 2021 financial years.

A balanced compensation model incorporating both a basic salary and a Short Term Incentive Plan was introduced for the CEO. STIP compensation is split into two equal parts; 50% of the payment is made in the form of a cash bonus, while the remaining 50% is converted in Restricted Share Units (RSUs) that have a vesting period of three years. STIP payments are performance-related and depend on whether financial targets (KPIs) and individual objectives (MBOs) are achieved within a given financial year. For the Board of Directors, it is extremely important that the targets set for the CEO include by objectives on sustainability, in order to ensure that Ina Invest's vision for creating the most sustainable real estate portfolio in Switzerland becomes a reality. Further information on STIP can be found in this compensation report.

Members of the Board of Directors are compensated on a flat-rate basis for their activities as part of the Board and for the committee work that they undertake. A third of the annual payments are made in the form of shares that are blocked for three years.

The compensation for the CEO for the 2020 financial year and for members of the Board of Directors for the period between the Annual General Meetings 2020 and 2021 is within the limits approved at the last AGM. The AGM has approved maximum compensation for the CEO of CHF 1.1m for the 2021 financial year, while the proposed maximum compensation for Executive Management (for the 2022 financial year) and the Board of Directors (for the period between the 2021 and 2022 AGMs) remains unchanged. 

As shareholders, you will have the opportunity to vote on the compensation for Executive Management and the Board of Directors every year at the AGM. As of the upcoming Annual General Meeting on 31 March 2021, this compensation report will also be submitted to you in a non-binding advisory vote (one year before the revision of the Swiss Company Law enter into force).

We will continue to evaluate and review our compensation practices on a regular basis and constantly seek to develop them further. To this end, we maintain regular contact with our investors.

On behalf of the Nomination and Compensation Committee, I would like to thank you, our valued shareholders, for your trust and continuing support.