PAX Anlage AG

IFBC was engaged by the board of directors of PAX Anlage AG to prepare a Fairness Opinion assessing the public tender offer made by Basler Leben AG from a financial point of view. As a qualified evaluator pursuant to Article 30(6) Takeover Ordinance (TOO), IFBC is suitably qualified to prepare Fairness Opinions. PAX Anlage is a Swiss Real Estate company quoted on the SIX Swiss Exchange AG with a market cap of CHF 290 million as of March 2017.