4. Executive Board and Group Executive Management

The Executive Board (EB) is responsible for the operational management of the head office (VP Bank Ltd, Vaduz), whereas Group Executive Management is responsible for the management of VP Bank Group. Group Executive Management (GEM) is in charge of the management of the Group. Its tasks and competencies are specified in the OBR as well as in the functional descriptions for the individual Members of the Executive Board / Group Executive Management. The Chairman of the Executive Board / Group Executive Management (CEO) is responsible for the overall management of the Group and group-wide coordination.

The Members of the Executive Board / Group Executive Management generally meet every two weeks for a session. Additional meetings and workshops are held for the purpose of assessing the strategy and corporate developments as well as for dealing with annual planning, budgeting and other current issues.

4.1 Members of the Executive Board and Group Executive Management

As of 31 December 2025, the Executive Board and Group Executive Management were made up of the following individuals:

Philippe Wüst had taken on the position of Chief Financial Officer on an interim basis on 1 January 2025. In this role, he was also a member of Executive Management of VP Bank Ltd.

The Board of Directors of VP Bank has appointed Roland Kläy as the new Chief Financial Officer and member of the Group Executive Board with effect from 1 October 2025.

Philippe Wüst's role as Chief Financial Officer a.i. and his membership of the Executive Board thus ended on 1 October 2025. As of this date, he will once again focus on his position as Head of Group Finance.

Felix Brill has been a member of the Group Executive Board since the beginning of 2025. With effect from 1 January 2026, Felix Brill was appointed by the Board of Directors as the new Head of International Locations. In this role, he has assumed responsibility for client business in Switzerland, Luxembourg and Singapore. This role was previously held on an ad interim basis by CEO Urs Monstein. In addition, in his role as Chief Investment Officer (CIO), he continues to shape VP Bank's investment strategy and leads the research and investment teams.

Responsibility for products and services was integrated into the new Market Strategy & Client Development division headed by Rolf Steiner on 1 January 2026.

As a result, the Executive Board / Group Executive Management of VP Bank has been composed as follows since 1 January 2026:

• Urs Monstein: Chief Executive Officer
• Roland Kläy: Chief Financial Officer
• Patrick Bont: Chief Risk Officer
• Felix Brill: International Locations / CIO
• Adrian Schneider: Region Liechtenstein / BVI
• Rolf Steiner: Market Strategy & Client Development

4.2 Other activities and vested interests

The other activities of the Members of the Executive Board / Group Executive Management and any interests can be found in the biographies set out below.

Dr Urs Monstein

Born 1962, Citizen of Switzerland

Chief Executive Officer (CEO) and Head International Locations a.i.

Curriculum vitae

Education

1996 Swiss Banking School, Zurich, Switzerland

1994 Dr iur., University of St.Gallen, Switzerland

1991 lic. oec., University of St.Gallen, Switzerland

1988 lic. iur., University of St.Gallen, Switzerland

Professional background

Since 2018 VP Bank Ltd, Vaduz, Liechtenstein
Since 11.2024: Chief Executive Officer (CEO)
05—10.2024: Chief Executive Officer ad interim
2018—10.2024: Chief Operating Officer (COO)
02—09.2019: Chief Executive Officer ad interim, Chief Operating Officer

2006—2018 Bank Julius Bär & Co. Ltd, Zurich, Switzerland
2012—2017: Global Head of IT / Chief Information Officer
2010—2011: Head of Strategic Programs
2008—2009: COO International / Program Manager
2006—2007: Program Manager Strategic Initiatives

2004—2006 Bank Ehinger & Armand von Ernst, Zurich, Switzerland, Chief Operating Officer, Member of the Executive Board

1998—2003 UBS Group Inc., Zurich, Switzerland
2001—2003: Head of Strategic Project Management
2000—2001: Head of Private Banking Services Switzerland
1998—1999: Project Manager Migration Private Banking Switzerland

1992—1997 Union Bank of Switzerland, Zurich, Switzerland
1996—1997: Head of the Investment Clients and Securities Administration Unit
1995—1996: Training placement for corporate clients, Geneva
1993—1995: Assistant to the Chairman of the Executive Board, Region Switzerland
1992—1993: Controlling Region Switzerland

1987—1990 University of St.Gallen, Switzerland, research assistant (tax law, public law)

Other activities and vested interests

• Member of the Board of the Liechtenstein Bankers Association, Vaduz
• Member of the Board of the Liechtenstein Chamber of Commerce and Industry (LIHK), Vaduz

Roland Kläy

Born 1976, Citizen of Switzerland

Chief Financial Officer (CFO)

Curriculum vitae

Education

2020 CAS Risk Management for Banking & Finance, University of Zurich, Switzerland

2015 CAS Financial Mathematics and Statistics, Lucerne University of Applied Sciences and Arts, Switzerland

2008 IFRS/IAS Accountant, Controller Academy, Switzerland

2006 Certified Public Accountant (CPA), Academy for Auditing, Switzerland

2002 Lic. rer. pol. in Business Administration, University of Bern, Switzerland

Professional background

Since 2025 VP Bank Ltd, Liechtenstein
Chief Financial Officer

2021—2025 adicant bank ag, Switzerland
2021—2025: Co-founder and Chief Financial & Chief Risk Officer
2023: Co-CEO

2012—2021 Aargauische Kantonalbank, Switzerland
2019—2021: Deputy Member of the Executive Board, Finance & Risk Division
2017—2019: Chief Risk Officer
2012—2017: Head of Risk Sector

2002—2012 Ernst & Young AG, Zürich, Switzerland
Senior Audit Manager

Other activities and vested interests

• None

Patrick Bont

Born 1975, Citizen of Switzerland

Chief Risk Officer (CRO) and Deputy CEO of VP Bank Group

Curriculum vitae

Education

2016 EMBA in Digital Transformation, HTW Chur, University of Applied Sciences, Switzerland

2012 LL.M. in Company, Foundations and Trust Law, University of Liechtenstein

2001 lic. iur., University of St.Gallen, Switzerland

Professional background

Since 2020 VP Bank Ltd, Vaduz, Liechtenstein, Chief Risk Officer

2009—2020 Financial Market Authority (FMA) Liechtenstein, Vaduz
2016—2020: Member of the Executive Board, Division Manager Banking
2013—2015: Member of the Executive Board, Division Manager Other Financial Intermediaries
2010—2013: Head of Legal and International Affairs
2009—2010: Lawyer, Executive Board staff

2001—2009 UBS Inc., Zurich and Hong Kong
2005—2009: Director, Head of Business Management, Group General Counsel Area, UBS Corporate Center, Zurich
2007—2008: Director, Head of Business Management, Legal & Compliance, UBS Investment Bank, Hong Kong
2003—2005: Business Analyst, Operational Risk, UBS, Corporate Center, Zurich
2001—2003: Junior Client Advisor, UBS Wealth Management, Zurich

Other activities and vested interests

• None

Dr. Felix Brill

Born 1979, Citizen of Germany and Switzerland

Head of Investment & Client Services

Curriculum vitae

Education

2011 PhD in Economics, University of Bern, Switzerland, and Study Center Gerzensee, Switzerland

2006 M.A. HSG in Economics, University of St. Gallen, Switzerland, and Stockholm School of Economics, Sweden

2001 Intermediate diploma in Physics, University of Heidelberg, Germany

Professional background

Since 2018 VP Bank Ltd, Vaduz, Liechtenstein
Since 2018: Chief Investment Officer (CIO)
2025: Head of Investment & Client Services
2020—2024: President of the Board of Trustees VP Fund Solutions (Liechtenstein) AG und VP Fund Solutions (Luxembourg) SA
2018—2020: Member Group Executive Management

2009—2017 Wellershoff & Partners Ltd., Zurich, Switzerland
2015—2017: Chief Executive Officer (CEO)
2009—2015: Founding Partner and Chief Economist

2006—2009 UBS Wealth Management Research, Zurich, Switzerland
2007—2009: Head of Economic Research Switzerland
2006—2007: Graduate Trainee Program (Zurich, New York)

Other activities and vested interests

• President of the Board of Trustees of Treuhand-Personalstiftung, Vaduz, Liechtenstein
• Vice President of the Board of Trustees VP Bank Foundation, Vaduz, Liechtenstein

Adrian Schneider

Born 1985, Citizen of Switzerland

Head of Region Liechtenstein & BVI

Curriculum vitae

Education

2022 Oxford Advanced Management & Leadership Programme (OAMLP), Saïd Business School, University of Oxford, United Kingdom

2022 Certificate in ESG Investing, CFA Institute, Charlottesville, USA

2019 Chartered Alternative Investment Analyst (CAIA), Chartered Alternative Investment Analyst Association

2018 Financial Risk Manager (FRM), Global Association of Risk Professionals

2015 Chartered Financial Analyst (CFA) Charterholder, CFA Institute, Charlottesville, USA

2012 Master of Science in Banking and Financial Management (MSc), University of Liechtenstein, Vaduz, Liechtenstein

2010 Bachelor of Science in Business Administration (BSc), University of Liechtenstein, Vaduz, Liechtenstein

2005 Computer Scientist EFZ and Federal Vocational Baccalaureate, VET School Chur and Hamilton Bonaduz AG, Switzerland)

Professional background

Since 2023 VP Bank Ltd, Vaduz, Head of Region Liechtenstein & BVI

2022—2023 BZ Bank Limited, Wilen, Switzerland, Chief Executive Officer

2019—2022 Graubündner Kantonalbank, Chur, Switzerland, Head of the Investment Center / Chief Investment Officer, Member of the Management Board

2011—2019 Kaiser Partner Privatbank AG, Vaduz, Liechtenstein
2014—2019: Head of Investment Solutions, Deputy Executive Officer
2011—2014: Portfolio Manager, Member of the Management

2009 Financial Market Authority (FMA) Liechtenstein, Vaduz, Liechtenstein, Trainee

2006—2007 Graubünden Cantonal Administration, Chur, Switzerland, ICT Support

2005—2006 Hamilton Bonaduz AG, Bonaduz, Switzerland, Application Developer

Other activities and vested interests

• Member of the Board of Trustees of Treuhand-Personalstiftung
• Member of the Board of Trustees of Privatbank Personalstiftung
• Member of the Board of Directors of Embla Fund Management AG

Dr Rolf Steiner

Born 1968, Citizen of Switzerland

Head of Strategic Transformation

Curriculum vitae

Education

2008 CFA Charterholder

1998 Postgraduate diploma in Management and Manufacturing Science, ETH Zurich, Switzerland

1997 Dr sc. techn. at the Institute for Signal and Information Processing, ETH Zurich, Switzerland

1994 Postgraduate diploma in Information Technology, ETH Zurich, Switzerland

1993 Electrotechnology Studies Dipl. El. Ing., ETH Zurich, Switzerland

Professional background

Since 2019 VP Bank Ltd, Vaduz, Liechtenstein
2023—2024: Head of Group Products & Solutions
2019—2022: Group Chief of Staff

2018—2019 Deutsche Bank (Switzerland) Ltd, Zurich, Switzerland, Head of Strategic Transformation EMEA, Wealth Management

2016—2018 Bank Vontobel Ltd, Zurich, Switzerland
2017—2018: Head of Advisory Process & Client Interface, Wealth Management
2016—2017: Head of Sales & Business Management, Wealth Management

2005—2016 Credit Suisse AG, Zurich, Switzerland, 2016: COO of Swiss Universal Bank Finance; 2012—2015: Head of Market & Segment Management Premium Clients Switzerland & Global External Asset Managers
2011—2012: Head of Center of Competence Region Zurich, Private Banking Switzerland
2009—2010: Head of Business Support Region Zurich, Private Banking Switzerland
2006—2009: Head of Business Development for Private Banking Switzerland
2005: Head of Private Banking Program Office of OneBank reorganisation

2003—2005 UBS Inc., Zurich, Switzerland, Head of Product Management Client Reporting, Wealth Management & Business Banking

1999—2003 McKinsey & Company, Zurich, Switzerland, Engagement Manager

Other activities and vested interests

• Member of the CFA Institute and the CFA Society Switzerland
• Foundation Council of AXA Foundation for Occupational Benefits, Principality of Liechtenstein

4.3 Number of authorised activities

VP Bank has not issued any statutory rules concerning the number of authorised activities.

4.4 Management contracts

VP Bank has no management contracts with third parties that involve the delegation of management functions.