Auditor

Duration of the mandate and term of office of the lead auditor

Since 2012, PricewaterhouseCoopers AG (PwC), Lucerne, has been LUKB's audit firm and auditor within the meaning of the Swiss Code of Obligations. It also audits the Group companies.

PwC meets the requirements set out in the Banking Act and the Stock Exchange Act and is authorised by FINMA to audit banking institutions. According to the Articles of Association¹⁾, the auditors are each elected for a term of office of one year.

As the auditor, PwC checks in particular whether the accounts and annual financial statements as well as the proposal concerning the appropriation of the disposable profit and the consolidated financial statements comply with the law and the Articles of Association. It reports to the company's Annual General Meeting on the results of its audit. Pursuant to Article 26Paragraph 2 of the Articles of Association¹⁾ of Luzerner Kantonalbank and in accordance with the Act on the Conversion²⁾, the auditors report annually to the Government Council of the Canton of Lucerne on the capital adequacy and risk situation of the company.

Based on the statutory provisions on the term of office of the lead auditor, the lead auditor of the selected audit firm PricewaterhouseCoopers AG (PwC), who has been in office since the 2019 financial year, is entitled to exercise his function up to and including the 2025 financial year at the most. In view of this term limit, Luzerner Kantonalbank tendered the mandate of the audit firm and auditor within the meaning of the Swiss Code of Obligations in early 2025. After examining the offers received, Luzerner Kantonalbank has chosen KPMG AG, Zurich, as the new audit firm and auditor from the 2026 financial year.

The switch to KPMG AG as the new auditor within the meaning of the Swiss Code of Obligations is planned in due form and in a timely manner as an agenda item for the Annual General Meeting on 13 April 2026.

Auditing fees

The audit year for the financial audit and the regulatory audit runs from 1 January to 31 December. As the actual payments are made irregularly over the calendar year, Luzerner Kantonalbank publishes the standard fee charged and incurred during the audit year. In 2025, the audit firm invoiced the amount of around 706,000 Swiss francs (including VAT and expenses).

Additional fees

In the 2025 calendar year, the audit firm PwC invoiced around 62,000 Swiss francs for other activities (including VAT and expenses).

Information instruments pertaining to the external audit

The Audit and Finance Committee of the Board of Directors monitors and assesses the effectiveness of the audit firm. The audit firm's risk analysis and audit strategy are acknowledged at a meeting of the Audit and Finance Committee of the Board of Directors, together with the planning of the internal audit. The internal auditors and the audit firm are present at this meeting. The Audit and Finance Committee of the Board of Directors critically analyses the audit reports of the audit firm and discusses them with the lead auditor. It also ensures that deficiencies have been rectified and that the recommendations made by the audit firm have been implemented. Every year after completion of the regulatory audit, the Audit and Finance Committee of the Board of Directors assesses the performance, billing and independence of the audit firm and discusses its assessment with the audit firm. A criteria matrix is used for the assessment.