Report of the statutory auditor To the General Meeting of Sika Ltd, Baar

Report of the statutory auditor on the Compensation Report

We have audited pages 77 to 79 of the compensation report of Sika AG for the year ended December 31, 2016.

Board of Directors’ responsibility: The Board of Directors is responsible for the preparation and overall fair presentation of the compensation report in accordance with Swiss law and the Ordinance. The Board of Directors is also responsible for designing the remuneration system and defining individual remuneration packages.

Auditor’s responsibility: Our responsibility is to express an opinion on the accompanying compensation report. We conducted our audit in accordance with Swiss Auditing Standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the compensation report complies with Swiss law and articles 14–16 of the Ordinance. An audit involves performing procedures to obtain audit evidence on the disclosures made in the compensation report with regard to compensation, loans and credits in accordance with articles 14–16 of the Ordinance.

The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatements in the compensation report, whether due to fraudor error. This audit also includes evaluating the reasonableness of the methods applied to value components of remuneration, aswell as assessing the overall presentation of the compensation report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Opinion: In our opinion, the compensation report for the year ended December 31, 2016, of Sika AG complies with Swiss law and articles 14–16of the Ordinance.

Zurich, February 22, 2017


Ernst & Young Ltd

Christoph Michel                                     Marc Rüegsegger
Licensed audit expert                               Licensed audit expert