6   Shareholders’ participation rights

6.1     Voting rights and representation restrictions

Only persons identified as being entered in the share register are entitled to exercise participation rights at the general meeting. The Board of Directors may reject an entry if the number of registered shares held by the acquiring party or by a group of shareholders acting jointly exceeds 5% of the share capital. The registration restrictions may be lifted by a simple majority decision taken by the general meeting. There are no other restrictions.

In the 2011 financial year, the Board of Directors did not reject any entries into share register.

Every shareholder also has the option of representing his shares personally at the general meeting or of having himself represented by a proxy authorised in writing who need not be a shareholder.

The articles of association and the organisational regulations of Allreal Holding AG can be accessed on the Allreal website: www.allreal.ch/Anleger/Corporate Governance/Statuten und Reglemente (www.allreal.ch/weballreal/index/main/anleger/cg-allgemein/cg-kapital-grundlagen.htm).

6.2     Statutory quorums

The articles of association do not specify any quorums over and above the statutory rules on the adoption of resolutions (Art. 703 and 704 Swiss Code of Obligations [CO]).

6.3     Convocation of the general meeting of shareholders

The convocation of the general meeting is governed by the statutory provisions (Art. 699 and 700 CO).

6.4     Inclusion of items on the agenda

Shareholders individually or jointly representing at least 20 000 shares, may submit written proposals and requests for items to be added to the agenda to the Board of Directors until 20 days before the general meeting.

The German-language list of agenda items will be sent to the shareholders along with the invitation to attend the general meeting.

In response to a decision by the general meeting, items to be discussed can be admitted for discussion without prior announcement. However, with the exception of the convening of an extraordinary general meeting or a special audit, a resolution may only be passed at the next general meeting.

6.5     Entry in the share register

Invitations to attend the general meeting will be sent to shareholders at least 20 days in advance. Shareholders entered in the share register by the last dispatch date are entitled to vote.

The qualifying date for the 13th annual general meeting of 30 March 2012 is 8 March 2012.