Auditors

As part of their auditing activity, the auditors inform the Audit Committee and the Executive Committee regularly about their findings and about suggestions for improvement. Taking into account the reporting and assessments by the Group companies, the Audit Committee evaluates the performance of the auditors and their remuneration in line with market conditions. The Audit Committee approves the audit focus area, provides recommendations to the auditors and makes suggestions for improvement. In 2014, the auditors participated in three regular meetings of the Audit Committee to discuss individual agenda items.

Ernst & Young Ltd, Zurich, were appointed in 2002 as auditors to Holcim Ltd. Since 2011, Willy Hofstetter is responsible for managing the audit mandate, supported by Elisa Alfieri. The rotation of the lead auditor will be carried out in accordance with Art. 730a of the Swiss Code of Obligations. The auditors are elected for a one-year term by the Annual General Meeting.

The fees shown below were charged for professional services rendered to the Group by Ernst & Young in 2014 and 2013:

Million CHF

2014

2013

1

This amount includes the fees for the individual audits of Group companies carried out by Ernst & Young as well as their fees for auditing the Group financial statements.

2

Audit-related services comprise, among other things, amounts for due diligences, comfort letters, accounting advice, information systems reviews and reviews on internal controls.

3

Other services include, among other things, amounts for accounting, actuarial and legal advisory services.

Audit services1

11.4

10.7

Audit-related services2

0.8

0.7

Tax services

0.3

0.6

Other services3

0.3

0.6

Total

12.8

12.5