Shares and participation certificates of Swiss Estates AG, Lucerne are listed on BX Swiss (www.bxswiss.com) ("admitted to exchange trading"). BX Swiss is operated by BX Swiss AG, which was founded in 1884 as Berner Börsenverein. BX Swiss is a recognized stock exchange, in accordance with the Swiss Financial Market Infrastructure Act (FMIA), which enables the fully integrated electronic trading of securities and meets the requirements of a regulated market. The supervision of BX Swiss lies with the Swiss Financial Market Supervisory Authority (FINMA). Participation certificates of Swiss Estates AG are also tradable on the Düsseldorf Stock Exchange in the primary market (www.boerse-duesseldorf.de), irrespective of the listing on the BX Swiss.