Annual report 2018

78 | Galenica annual report 2018 Ernst & Young Ltd Schanzenstrasse 4a P.O. Box CH-3001 Berne Phone: +41 58 286 61 11 Fax: +41 58 286 68 18 www.ey.com/ch To the General Meeting of Galenica Ltd., Berne Berne, 5 March 2019 Report of the statutory auditor on the remuneration report We have audited the remuneration report of Galenica Ltd. for the year ended 31 December 2018. The audit was limited to the information according to articles 14–16 of the Ordinance against Excessive Compensation in Stock Exchange Listed Companies (Ordinance) con- tained on pages 73 to 77 of the remuneration report. Board of Directors’ responsibility 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. The Board of Directors is also responsible for designing the remuneration system and defining individual remunera- tion packages. Auditor’s responsibility Our responsibility is to express an opinion on the 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 pre- sentation of the remuneration report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Opinion In our opinion, the remuneration report for the year ended 31 December 2018 of Galenica Ltd. complies with Swiss law and articles 14–16 of the Ordinance. Ernst & Young Ltd Roland Ruprecht Jan Meyer Licensed audit expert Licensed audit expert (Auditor in charge) Remuneration Report Galenica