Article 7a Multiple distributions constituting a disproportionate drag on own fundsF1

the dividend multiple is a multiple of the distribution paid on the voting instruments and not a predetermined fixed amount;

the dividend multiple is set contractually or under the statutes of the institution;

the dividend multiple is not revisable;

the same dividend multiple applies to all instruments with a dividend multiple;

the amount of the distribution on one instrument with a dividend multiple does not represent more than 125 % of the amount of the distribution on one voting Common Equity Tier 1 instrument.

In formulaic form this shall be expressed as:

$l\le \mathrm{1,25}\times k$

where:

• k shall represent the amount of the distribution on one instrument without a dividend multiple;

• l shall represent the amount of the distribution on one instrument with a dividend multiple;

the total amount of the distributions paid on all Common Equity Tier 1 instruments during a one year period does not exceed 105 % of the amount that would have been paid if instruments with fewer or no voting rights received the same distributions as voting instruments.

In formulaic form this shall be expressed as:

$\mathrm{kX}+\mathrm{lY}\le \left(\mathrm{1,05}\right)\times k\times \left(X+Y\right)$

where:

• k shall represent the amount of the distribution on one instrument without a dividend multiple;

• l shall represent the amount of the distribution on one instrument with a dividend multiple;

• X shall represent the number of voting instruments;

• Y shall represent the number of non-voting instruments.

The formula shall be applied on a one-year basis.