Corporate Governance

Board of Directors

As of the First Day of Trading, the Board of Directors will consist of 6 members (including the Chairman and the Lead Independent Director), all of whom are non-executive directors. With the exception of the Chairman (who served as CEO of the Group until March 31, 2017 and thereafter acted as executive chairman of Landis+Gyr AG) all members of the Board of Directors are independent within the meaning of the Swiss Code of Best Practice for Corporate Governance. Other than as disclosed below, none of the members of the Board of Directors has any significant business connection with any members of the Group.

_{AFC: Audit and Finance Committee
RemCo: Remuneration Committee}