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4. Loans and credits

Article 32 (2) of the Articles of Association of Emmi AG stipulates that members of the Board of Directors and Group Executive Management may be granted advance payments up to a maximum of KCHF 1,000, in particular in the form of advances on costs for litigation connected to the activity of the person concerned as a member of the Board of Directors or Group Executive Management. These limits were not utilised in the financial year.