Annual Report 2016

Transitgas AG Bericht über das 45.Geschaftsjahr / Report on the 45rd business year / 2016 Provision for holidays and overtime includes social contributions owed by the employer. Provision for legal cases reflects to pending cases: ARGE Sörenberg with an amount of CHF 1.9m and Speia with an amount of CHF 1.91m. Both cases are still pending and under permanent verification and observation. Provision for abandoned pipeline is annually increased by CHF 1m. The Board of Directors re-considered the abandoned pipeline issue and decided to stop increasing the provision from 2017 onwards unless some explicit request is brought forward by the authorities in the meantime. 3.12 Lease liabilites (not terminable or expiring within 12 months of balance sheet date) 31/12/2016 31/12/2015 within one year 265.729 234.988 within two to five years 397.174 423.206 after five years - - Total 662.903 658.194 Lease liabilities arise from car leasing. Servitude liabilites (not terminable or expiring within 12 months of balance sheet date) 31/12/2016 31/12/2015 within one year 4.107 4.113 within two to five years 16.429 16.452 after five years 126.842 126.972 Total 147.378 147.537 Servitude liabilities arise from servitudes along the pipeline for land which does not belong to Transitgas AG. 3.13 Assets pledged or assigned to secure own liabilities In connection with the expansion of the transportation system, Transitgas AG entered into a financing agreement with a bank syndicate in 2011. As security for this financing agreement, Transitgas AG pledged all current and future receivables from the lease agreement with FluxSwiss Sagl and Swissgas AG until May 28, 2021 to the bank syndicate. As of December 31 the pledged assets amount to: 31/12/2016 31/12/2015 Cash 26.236.472 30.624.652 Trade receivables due from shareholders - - Other current receivables 26.407.685 40.790.126 Total 52.644.157 71.414.778 3.14 Shareholder rights and options No shareholder rights and options were held by manangement or administrative bodies and by employees as at December 31, 2016 and 2015. 3.15 Extraordinary events occured during the financial year No extraordinary events occured during the financial year. 3.15 Significant events occurring after the balance sheet date No significant events occurred after the balance sheet date. 3.16 Fees for audit services 2016 2015 Audit services 52.145 60.645 Other services - - Total 52.145 60.645 26