1 Group structure and shareholders

1.1 Group structure

The operational Group structure of BKW can be derived from the following illustration and the segment reporting under item 8 on pages 42 to 44 of the BKW Group’s consolidated financial statements.

The entire organisation of the BKW Group can be viewed at www.bkw.ch/organisation.

Listed Group companies

The shares of BKW AG, which has its headquarters in Bern, have been listed on the SIX Swiss Exchange since 12 December 2011. On 31 December 2019, BKW’s stock market capitalisation amounted to CHF 3,768 million.

Scope of consolidation of the BKW Group

With the exception of BKW itself, BKW’s consolidation group only includes companies that are not listed separately on the stock exchange. The individual holdings of BKW in companies that are fully consolidated in the consolidated financial statements are listed on pages 92 to 97 of the consolidated financial statements. In all cases, the holding corresponds to the percentage of shares and voting rights.

1.2 Major shareholders

No other shareholders registered more than 3 % of the voting rights of BKW during the reporting year in accordance with Article 120 of the Federal Act on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (FMIA).

The disclosures pursuant to Art. 120 FMIA that were published by BKW in the reporting year 2019 on the electronic publication platform of SIX Exchange Regulation can be viewed at the link https://www.six-exchange-regulation.com/en/home/publications/significant-shareholders.html.

1.3 Cross shareholdings

BKW has no cross shareholdings of more than 5 % in a company outside of the BKW Group.